In order to streamline reporting, enhance efficiency and automate the payments fraud management process, the RBI said the fraud reporting module will be migrated to DAKSH --- the Reserve Bank's advanced supervisory monitoring system -- from January 1.
This reporting was earlier facilitated through Electronic Data Submission Portal (EDSP) and is being migrated to DAKSH.
'Arnala', the first of 08 x ASW SWC Project, being built by GRSE for the Indian Navy was launched at M/s L and T, Kattupalli, Chennai. She made her first contact with the water of the Bay of Bengal at 1040 hrs at the Launch Ceremony graced by Smt Rasika Chaube, Financial Adviser (Defence Services), Ministry of Defence.
Lieutenant General Arvind Walia has been appointed as the next Engineer-in-Chief of the Indian Army. He would be succeeding Lt Gen Harpal Singh who is superannuating on December 31.
Lt Gen Walia has previously commanded an independent squadron in the desert sector, a regiment in Jammu and Kashmir and an Engineer Brigade along the western front.
Bharat Biotech has said that its nasal vaccine against Covid-19, iNCOVACC, would be available to the public from the fourth week of January. The Hyderabad-based biotechnology company said that the vaccine will cost 800 rupees for private markets and 325 rupees for governments. iNCOVACC has been developed by Bharat Biotech in partnership with America's Washington University
Power Ministry and the Defence Research and Development Organisation, DRDO, have signed an Memorandum of Understanding, MOU, for implementation of Early Warning System for Vulnerable Hydro Projects and Power Stations. Power Secretary Alok Kumar and DRDO Chairman Dr Samir V Kamat signed the MoU in New Delhi.
Indian Energy Exchange is setting up a wholly-owned subsidiary, International Carbon Exchange Private Ltd, to explore business opportunity in the voluntary carbon market. The ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate reduction of global GHG emission by 45% by 2030.
S N Goel, Chairman & Managing Director, IEX
The Ministry of Railways, as part of its station redevelopment drive, has formulated a new scheme to modernise over 1,000 small stations over the coming years. Under the Amrit Bharat Station Scheme, stations will be equipped with facilities inspired by the mega-upgradation of marquee stations such as New Delhi and Ahmedabad, albeit at a lower cost.
Pradhan Mantri Jan Dhan Yojana accounts in the country have seen an increase in the deposit base during the past eight years, and only 8.2 per cent of such accounts had zero balance in August, the Reserve Bank of India’s Trend & Progress report said. A PMJDY account is regarded as inoperative if there are no customer-induced transactions in it for two years.
The Ministry of Electronics and Information Technology would be the nodal ministry for matters relating to online gaming with monetary risks, said a gazette notification. This move clears the way for a policy on such online gaming, which is expected in two-three weeks. India’s gaming market is currently estimated at $2.6 billion expected to be worth $8.6 billion by 2027.
The Reserve Bank of India has approved the re-appointment of Baskar Babu Ramachandran as the MD & CEO of Suryoday Small Finance Bank effective January 23, 2023. He sold bank’s 50 lakh shares on December 16 for ₹55.44 crore to close a loan for exercising warrants to maintain the promoter’s stake at the minimum of 26% for the first 5 years (up to January 22, 2022) as per RBI.
The Government of India and Asian Development Bank signed a $125 million loan to develop climate-resilient sewage collection and treatment, and drainage and water supply systems in three cities in the state of Tamil Nadu. The financing is the third and the last tranche of the $500 million multi-tranche financing facility (MFF) for the Program approved by ADB in 2018.
The Indian Institute of Science, Bengaluru, will function as the secretariat for Science 20, a working group set up as part of the G20 which will be presided over by India in 2023. S20 has been set up as part of efforts by G20, the intergovernmental forum comprising 19 countries & EU to address global challenges including climate change mitigation & Sustainable Development.
The theme of S20 for 2023 'Disruptive Science for Innovative and Sustainable Development'
State-owned NTPC Ltd and GE Power India Ltd, a listed Indian company of GE Steam Power, on signed a Memorandum of Understanding for feasibility to demonstrate technologies to reduce the carbon footprint of power generating utility’s existing coal-fired power plants. The collaboration is to support NTPC in co-firing of biomass pellets beyond 20% and up to 100%
Drone manufacturer Garuda Aerospace has become India’s first drone startup to receive both Type Certification and RTPO approvals by DGCA for their indigenously designed Kisan Drones. DGCA Type certification is provided on the basis of the quality check of the drones and is issued after a rigorous testing process.
Garuda Aerospace Founder and CEO Agnishwar Jayaprakash
Fifteen Start-ups selected in the first-of-its-kind product accelerator program for innovators developing sustainable solutions will soon start working towards solutions in the healthcare and agriculture domains. This is the first cohort of the NIRMAN Accelerator Program launched by Start-ups Incubation and Innovation Centre (SIIC) IIT Kanpur.
Infibeam Avenues Ltd., the country’s first listed payments infrastructure firm, has received Perpetual Licence from the Reserve Bank of India (RBI) for its bill payments business, BillAvenue. The licence will allow BillAvenue to function as a Bharat Bill Payment Operating Unit (BBPOU) under Bharat Bill Payment System (BBPS).