Daily News

Image

Central Electronics Ltd granted 'Mini RATNA' (Category-1) status

Union Minister Dr Jitendra Singh announced the grant of "Mini RATNA" status (Category-1) for Central Electronics Limited (CEL) at its Golden Jubilee celebration at the Ghaziabad campus. CEL is pioneer in the country in the field of Solar Photovoltaic (SPV) and it has developed the technology with its own R&D efforts.

Did you Know

Image

Central Electronics Ltd granted 'Mini RATNA' (Category-1) status

Criteria for grant of Miniratna status to CPSEs:

Miniratna Category-I status: - The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.

Did you Know

Image

Central Electronics Ltd granted 'Mini RATNA' (Category-1) status

The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status. Central Electronics Limited is a Govt. of India Enterprise under the Department of Scientific and Industrial Research, Ministry of Science & Technology. It was established in 1974.

Did you Know

Image

Mazagaon Dock Shipbuilders get Navratna status as 18th PSU

Mazagon Dock Shipbuilders has been granted "Navratna" status by the Department of Public Enterprises. It is now the 18th PSU in the country to receive this status. A Navratna company can undertake investments worth up to Rs. 1,000 crore, without needing approval from the central government.

Did you Know

Image

Mazagaon Dock Shipbuilders get Navratna status as 18th PSU

It is also allowed to form Joint Ventures, and alliances and establish subsidiaries abroad. Some notable Navratnas are Engineers India, CONCOR, Bharat Electronics, Hindustan Aeronautics, RCF, NALCO, NMDC, RVNL, IRCON and IREDA. In order to become a Navratna company, the PSU should first be a Miniratna company.

Did you Know

Image

Mazagaon Dock Shipbuilders get Navratna status as 18th PSU

It must also report a net profit of ₹5,000 crore for three years in a row and must maintain an average annual turnover of over ₹25,000 crore for three years, or have an average annual net worth of over ₹15,000 crore for three years. Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yard in India. Its headquarters is located in Mumbai.

Did you Know

Image

Micro-, Small and Medium-sized Enterprises Day I 27 June

The United Nations has declared June 27 as MSMEs Day to appreciate and encourage the contribution of small and medium-sized businesses worldwide. Theme for this year is 'leveraging the power and resilience of Micro-, Small and Medium-sized Enterprises (MSMEs) to accelerate sustainable development and eradicate poverty in times of multiple crises.'

Did you Know

Image

Micro, Small and Medium-sized Enterprises Day I 27 June

The first MSME Day was celebrated on June 27th, 2017. The MSME Ministry is organising the Udyami Bharat programme to discuss legal reforms required in the MSMED Act to support MSMEs. India is home to approximately 63 million MSMEs, as reported by the MSME Ministry’s FY23 annual report. This number is second only to China.

Did you Know

Image

Micro, Small and Medium-sized Enterprises Day I 27 June

Indian MSMEs contribute about 30 per cent to the GDP, over 40 per cent to exports, and have created 110 million jobs. According to the United Nations Conference on Trade and Development, formal and informal MSMEs make up over 90 per cent of all companies worldwide, average of 70 per cent of total employment and 50 per cent of GDP.

Did you Know

Image

NPS logs over 110,000 fresh subscribers in April, reveals NSO data

The National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens. Initially, NPS was introduced for the new government recruits (except armed forces). With effect from 1st May, 2009, NPS has been provided for all citizens of the country including the unorganised sector workers on voluntary basis.

Did you Know

Image

NPS logs over 110,000 fresh subscribers in April, reveals NSO data

Managed by the Pension Fund Regulatory and Development Authority, the NPS is designed on a defined contribution basis. Here, both the subscriber and the employer contribute an equal amount to a person’s account. The Union government has mandated the National Pension System for all its new employees.

Did you Know

Image

NPS logs over 110,000 fresh subscribers in April, reveals NSO data

The corporate component of the scheme is voluntary in nature and includes people working in public sector organisations, private limited companies, or public sector banks among others. Any citizen of India between 18 and 70 years of age is eligible for the scheme. However, Hindu Undivided Families and Persons of Indian Origin are not eligible for subscribing to NPS.

Did you Know

Image

NPS logs over 110,000 fresh subscribers in April, reveals NSO data

110,655 fresh subscribers joined the National Pension System in April, with state government employees constituting nearly two-thirds of these new subscribers. Overall, 937,000 subscribers joined the National Pension System during FY24, 13.6 per cent higher than the 824,700 subscribers logged in the preceding financial year.

Did you Know

The NPS assets under management has reached ₹11.73 lakh crore (₹8.98 lakh Crore) in FY24

Image

Digital Rupee transactions slump after reaching initial RBI target

The Reserve Bank of India started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions per day by December 2023. e-rupee has since then seen a sharp decline in usage, dropping to 10% of its December peak. e-rupee/CBDC is of 2 types- retail CBDC and wholesale CBDC.

Did you Know

Image

Digital Rupee transactions slump after reaching initial RBI target

A retail CBDC is used by the general public, while a wholesale CBDC is used for transactions between banks and other financial institutions. The central bank had started the pilot on CBDC on the wholesale side from November 1, 2022, while the retail testing was started on December 1.

Did you Know

Image

Digital Rupee transactions slump after reaching initial RBI target

Wholesale CBDC in circulation is Rs. 0.08 crore whereas retail CBDC in circulation is Rs 234.04 crore. Globally, among 86 central banks surveyed by the Bank of International Settlements, a third are running a pilot CBDC.

Did you Know

Image

NATO Allies select Mark Rutte as next Secretary General

NATO has decided to appoint Dutch Prime Minister Mark Rutte as the next Secretary General of NATO, succeeding Jens Stoltenberg. He will assume this role from 1 October 2024. Jens Stoltenberg was the Secretary General for a decade. NATO is a Western security alliance founded on April 4, 1949, with 12 founding members. Presently, it has 32 members.

Did you Know

NATO headquarters is located at Brussels, Belgium. Its newest member is Sweden.

Image

BlinkX opens India’s first Gen AI lab in the stock broking industry

BlinkX, the digital stockbroking arm of JM Financial, has set up BlinkX Gen AI Lab for operational efficiencies and enhancing customers’ experiences. The lab is claimed to be one of the first in the stockbroking industry. Its AI-driven Nudge Engine would send personalised nudges to customers based on their behaviour and channel preference.

Did you Know

Image

Health dept to launch 2-month ‘Stop Diarrhoea’ drive on July 1

The Union Health Minister JP Nadda has launched National STOP Diarrhea Campaign 2024. The campaign aims at reducing the child deaths due to diarrhea. The campaign will be implemented in two phases - the preparatory phase from June 14 to 30, and the campaign phase from July 1 to August 31. The campaign's slogan, "Diarrhoea ki roktham, Safai aur ORS se rakhen apna dhyan."

Did you Know

Image

Health dept to launch 2-month ‘Stop Diarrhoea’ drive on July 1

Key activities during this period include the distribution of ORS and zinc co-packages by ASHA workers to households with children under five, setting up ORS-Zinc corners at health facilities and Anganwadi centres, intensifying advocacy and awareness efforts for effective disaster management.

Did you Know

India was the first country to introduce the Rotavirus vaccine.

Image

Paraguay joins International Solar Alliance as 100th full member

Paraguay has become the 100th country to join the International Solar Alliance (ISA) as a full member. Ambassador of Paraguay, H.E. Mr. Fleming Raul Duarte, handed over the Instrument of Ratification during a meeting with Shri Abhishek Singh, Joint Secretary (ED & MER) and Head of Depository, in New Delhi. 119 countries are now signatories to the ISA Framework Agreement.

Did you Know

Image

Paraguay joins International Solar Alliance as 100th full member

The ISA was launched on 30 November 2015 by Prime Minister Shri Narendra Modi and President of France, H.E. Mr. Emmanuel Macron during COP21 in Paris. The ISA aims to accelerate the deployment of solar energy globally in support of Climate Action. Its headquarters is located at National Institute of Solar Energy, Gurugram. Dr. Ajay Mathur is the Director General of the ISA.

Did you Know