REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the SKOCH ESG Award 2024 in the 'Renewable Energy Financing' category. The award underscores REC's dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy.
The SKOCH ESG Awards recognize organizations that demonstrate outstanding performance in Environmental, Social, and Governance practices. The SKOCH ESG Award and Assessment serve as an important benchmark for evaluating organizations' commitment to India 2047.
REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.
REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), DDUGJY, National Electricity Fund (NEF) Scheme which resulted in strengthening of last-mile distribution system, 100% village electrification and household electrification.
REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). The loan book of REC stands at Rs 4.97 Lakh Crores and Net Worth at Rs. 64,787 crores as on 31st December, 2023.
Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%. GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same period last year.
Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.18 lakh crore exceeding ₹20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year’s average of ₹1.5 lakh crore.
Breakdown of March 2024 Collections:
Central Goods and Services Tax (CGST): ₹34,532 crore;
State Goods and Services Tax (SGST): ₹43,746 crore;
Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods;
Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.
Ms Sheyphali B. Sharan has assumed charge as the Principal Director General, Press Information Bureau upon superannuation of Shri Manish Desai yesterday. Ms. Sharan is an officer of the 1990 batch of Indian Information Service.
The Indian Air Force is conducting its biggest exercise ‘Gagan Shakti’ at the Pokhran Field Firing Range in Jaisalmer district. This exercise which began on 3 April, will continue till April 10. In the exercise, all the major fighter aircraft and modern helicopters of the Air Force are demonstrating their striking capabilities.
The exercise is being conducted at various locations across the country, including the Pokhran Field Firing Range in Jaisalmer. Many fighter planes and helicopters including Tejas, Rafale, Sukhoi 30, Jaguar, Globemaster, Chinook, Apache, and Prachanda will participate in the exercise.
It was last held in 2018, during which the IAF completed over 11,000 sorties during the two-phase air manoeuvre. The Indian Army is providing logistics support for this mega exercise, facilitating a comprehensive pan-India movement of approximately 10,000 IAF personnel and ammunition in order to validate the Operational Rail Mobilisation Plan aspects of the Indian Air Force
The Securities and Exchange Board of India – SEBI has launched a new and more user friendly version of its complaint redress system – SCORES 2.0. According to SEBI, the timeline for redressal of complaints in SCORES 2.0 has been reduced to 21 calendar days.
Besides, there will be two levels of review, first by the ‘Designated Body’ and if the investor is dissatisfied, SEBI will undertake a second review. The market regulator has enabled integration with the KYC Registration Agency database for easy registration of the investor on SCORES.
Tokyo Olympics medallist Mirabai Chanu became the only Indian weightlifter to qualify for the Paris Olympics this year after competing successfully at the IWF World Cup in Phuket, Thailand. The 29-year-old Olympic silver medalist finished third in Group B of the women’s 49kg (and 11th overall) at the event to book her berth at the 2024 Paris Games.
Ever since the United Nations General Assembly designated 2 April as World Autism Awareness Day (WAAD) in 2007, the United Nations has observed the day as a means to affirm and promote the full realization of all human rights and fundamental freedoms for autistic people on an equal basis with others.
The theme of World Autism Awareness Day this year is 'Empowering Autistic Voices' which aims at providing more support and power to the individuals with this condition, in order to ensure they lead a meaningful life and even pursue successful careers.
The board of directors of Aditya Birla Fashion and Retail (ABFRL) authorised the management of the company to evaluate the vertical demerger of the Madura Fashion & Lifestyle (MFL) business from ABFRL into a separate, listed company.
The MFL business consists of four lifestyle brands: Louis Philippe, Van Heusen, Allen Solly and Peter England. These, along with casual wear brands American Eagle & Forever 21, sportwear brand Reebok, and the innerwear business under Van Heusen, will be demerged into a separate listed entity.
Work generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) increased 4.81% to 3.1 billion person-days in 2023-24 from 2.96 billion in the previous financial year, though individual demand for work remained nearly the same at 332.7 million, as against 331.5 million in 2022-23, showed the rural development ministry data.
The number of households that got work under the flagship rural jobs scheme increased 5.76% to 230.4 million in 2023-24 from 217.9 million in FY23. Household demand for work under the scheme went up 2.7% to 265.6 million in 2023-24 from 258.5 million in 2022-23.
AU Small Finance Bank (AU SFB) amalgamated Fincare Small Finance Bank, marking the first such consolidation in the sector. In an all-stock merger deal first announced on October 29, 2023, where the shareholders of Fincare SFB received 579 equity shares in AU SFB for every 2,000 equity shares held in Fincare SFB, the merger received final approval from RBI.
As part of the financial inclusion drive, the Small Finance Banks are created to provide basic banking services like accepting deposits and lending to the unbanked sections such as small farmers, micro business enterprises, micro and small industries and unorganised sector entities.
The Indian government designates April 1 to April 7 as Prevention of Blindness Week. This observance serves as a poignant call to individuals, emphasising the importance of prudent lifestyle choices and regular eye examinations to mitigate the risk of eye ailments, including age-related macular degeneration.
Jawaharlal Nehru and Raj Kumari Amrit Kaur founded the National Society for the Prevention of Blindness in 1960 under the Societies Registration Act of 1860. It is an entirely voluntary organisation that accepts donations and contributions and actively collaborates with Sight Savers, Rotary International and other significant companies.
