Indian sailor Vishnu Saravanan won the gold medal at the Europa Cup 2024 in the ILCA 7 category in Mallorca, Spain. The event was organised by Reial Club Nautic Port de Pollenca. Saravanan topped the 91-boat race with 17 net points. The ILCA7 is a category within the ILCA -International Laser Class Association sailing class.
Saravanan became the first Indian sailor to qualify for successive Olympics.
The Hon’ble President of India vide warrant dated 9th February 2024 and by virtue of the power vested under Section 4 (1) of the Central vigilance Commission Act, 2003 has appointed Shri AS Rajeev as Vigilance Commissioner in the Central Vigilance Commission.
The Central Vigilance Commission Act, 2003, provides for the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners. The tenure of the Vigilance Commissioner is of four years or till the incumbent attains the age of 65 years.
Bank of Baroda (BoB) has announced the launch of the bob Earth Green Term Deposit Scheme, aimed at raising deposits for financing eligible environment-friendly projects and sectors. The scheme offers customers the dual benefits of stable financial returns and contribution to a greener planet.
It offers annual interest rates, ranging from 6.75 per cent for a tenure of 12 to 18 months to 7.15 per cent for 777 days. Additionally, for longer tenures of 1,111 days, 1,717 days, and 2,201 days, the interest rates are set at 6.40 per cent per annum. Funds collected through this scheme will be directed towards financing green initiatives such as renewable energy.
L&T Finance, L&T Infra Credit, and five other non-banking financial companies (NBFCs) have surrendered their certificates of registration to the Reserve Bank of India. The other five NBFCs which surrendered their CoR are Marudhar Food & Credit Ltd, Creative Intra Ltd, Jinvani Trading & Investment Company, Manjushree Fincap, and Shruti Financial Services.
Following this, the central bank cancelled their Certificate of Registration (CoR) as they ceased to be a legal entity after amalgamation, merger, dissolution or voluntary strike-off. RBI said it has cancelled CoR of four NBFCs -- Nimisha Finance India, R.M.B. Finance Company, Suyash Finovest, and Kamdhar Leasing and Finance Ltd.
Prime Minister Narendra Modi announced the development of "Mission Divyastra" -- an indigenously developed, landmark weapons system that alters the country's geopolitic and strategic position and significantly changes the situation in southeast Asia. The Agni-5 MIRV missile, developed by defence research centre DRDO for over a decade, took its first flight from Odisha.
The new weapon system of DRDO (Defence Research Development Organisation) has Multiple Independently Targetable Re-entry Vehicle (MIRV) technology, which ensures that a single missile can deploy multiple nuclear warheads and hit targets at different locations simultaneously. MIRVs have been developed by the US, UK, Russia, France and China.
"The first flight test of Agni V under Mission Divyastra marks a very important milestone in India's march towards greater geo-strategic role and capabilities. An MIRV payload involves a single missile carrying several nuclear warheads, each programmed to hit a separate target.
This means optimum use of a single missile and gives India the capability of targeting adversaries in the east and west within a 5,000-plus km radius. To make this effective, the system is also equipped with indigenous avionics systems and high accuracy sensor packages, which ensure that the re-entry vehicles accurately reach the target points.
In Divyastra, the basic missile is a three-stage Agni-5 missile, but the nose cone is modified to accommodate many micro-nukes, mini-nukes and even a big thermo-nuclear weapon, he added. Each MIRV acts like a targeted tactical weapon. Agni has been part of India's arsenal since the 1990s.
Big Bang Boom Solutions Private Limited, has secured an order worth more than Rs 200 crores from the Indian Air Force and the Indian Army for its counter-unmanned aerial systems technology. This contract is the largest the Ministry of Defence has awarded under the Innovations for Defence Excellence initiative, and one of the largest signed by the MoD with a Indian start-up.
C-UAS systems are intended to counter the growing threat from technologically simple, inexpensive, commercially available drones that can inflict disproportionate damage on Indian targets. The drones can fly over a border to deliver contraband loads, such as weapons and ammunition or be rigged as improvised explosive devices (IEDs).
Indian Renewable Energy Development Agency Ltd. (IREDA) celebrated its 38th Foundation Day on March 11, 2024, marking a significant milestone in its journey towards fostering renewable energy development in India. The Foundation Day celebration provided a valuable opportunity to look back on IREDA's 37-year journey and accomplishments.
Dr. Mansukh Mandaviya, Union Minister for Chemicals & Fertilizers and Health & Family Welfare inaugurated a credit assistance program for Jan Aushadhi Kendras. In this regard, he presided over the exchange of an MoU between Small Industries Development Bank of India (SIDBI) and Pharmaceuticals and Medical Devices Bureau of India (PMBI).
Under the MoU, project loans for a credit limit up to Rs. 2 lakhs at a very competitive and affordable interest rate will be offered by SIDBI for small entrepreneurs of Jan Aushadhi Kendras.
The Department of Tourism, Madhya Pradesh, has signed a Memorandum of Understanding (MOU) with MakeMyTrip and redBus. This partnership aims to foster sustainable tourism development and promote Madhya Pradesh as a premier tourist destination. The MOU outlines a mutual commitment to promote homestays in Madhya Pradesh.
redBus will be recognised as the official “Online Bus Ticketing Partner” by the Madhya Pradesh Tourism Board and will work to help travellers discover the far reaches of the state.
Airtel Payments Bank has appointed Anuj Bansal as its chief financial officer. Prior to his new role, Bansal was vice president for financial planning & analysis at MasterCard India.
Bansal will be responsible for overall financial strategy, including corporate financial planning, budgeting, supply chain and treasury management.
Anubrata Biswas is the managing director and CEO of Airtel Payments Bank
The Indian Bank announced on 10 March that the Central Government has appointed Brajesh Kumar Singh as its new Executive Director for a three-year tenure. The Central Government vide Notification No 4/1(viii) dated March 9, 2024 appointed Brajesh Kumar Singh, Chief General Manager, Bank of Baroda as Executive Director of Indian Bank for a period of three years.
Cashinvoice, a digital supply chain finance platform, has teamed with SBI Global Factors Limited, India’s leading factoring provider, to broaden the use of factoring solutions for MSMEs in India. This collaboration is positioned to demonstrate the potential of invoice factoring to reduce working capital requirements and improve credit availability for Indian MSMEs.
Arun Poojari, Founder and CEO, Cashinvoice.
IndusInd Bank introduced ‘Indus PayWear,’ a new wearable payment solution, available on Mastercard. These wearables enable users to tokenise their IndusInd Bank cards for tap-and-pay transactions at contactless Point-of-Sale (PoS) terminals worldwide. The company reported, with a mobile app, users can easily set up their cards on the wearable and switch between them.
Transactions below ₹5,000 can be made with a tap, while those exceeding ₹5,000 require the PIN entry as per RBI guidelines.
