The Ministry of Ayush, Government of India and the World Health Organization signed a Donor Agreement during a signing ceremony organized at WHO Headquarters in Geneva 2024. This agreement, outlines the financial terms for implementing the activities of the WHO Global Traditional Medicine Centre (GTMC) in Jamnagar, Gujarat.
And was signed by H.E Mr. Arindam Bagchi, Permanent Representative of India to the UN, Geneva, and Dr. Bruce Aylward, Assistant Director-General for Universal Health Coverage and Life Course on behalf of the Ministry of Ayush and WHO respectively. Through this collaboration, the Government of the Republic of India will donate US$ 85 million over 10 years (2022-2032).
To support the operations of the WHO Global Traditional Medicine Centre (GTMC) in Jamnagar, Gujarat, India. The Donor agreement recognizes the establishment of the WHO Global Traditional Medicine Centre as a key knowledge hub for evidence-based Traditional Complementary and Integrative Medicine (TCIM) aiming to advance the health and well-being of people and the planet.
The Indian Institute of Corporate Affairs (IICA) in collaboration with HP India, launched the inaugural batch of the “HP Future Impact Leader – IICA Certified Environmental-Social-Governance (ESG) Professional Programme”, in Manesar. The event marked a pivotal step towards cultivating leaders to drive sustainable and responsible business practices,
to benchmark the impact of leadership in India. Dr. Ajay Bhushan Prasad Pandey, Director General & CEO of IICA and Chairperson of NFRA, and former Secretary of the Ministry of Finance, Government of India, delivered the event’s Keynote Address. ESG has grown rapidly over the past two decades due to the evolving global landscape.
ESG has become key to the sustained growth of businesses, aligning perfectly with the 4Ps of the G20 New Delhi Declaration Landmark Document 2023: Planet, People, Peace, and Prosperity. Adopting ESG core principles in business operations helps identify cost-saving opportunities, lower energy consumption, reduce resource waste, and minimize operational costs.
India has been elected as vice-chair of the supply chain council, one of the three bodies set up by the 14-member Indo-Pacific Economic Framework (IPEF) bloc, the Commerce and Industry Ministry. The council was set up under the IPEF Supply Chain Resilience Agreement, which aims to help mitigate risks of economic disruptions from supply chain shocks,
Improve crisis coordination, and reduce the member countries' dependence on China. The council aims to pursue targeted, action-oriented work to strengthen the supply chains for those sectors and goods most critical to national security, public health, and economic well-being.
Gurugram-based insurance marketplace InsuranceDekho has received the composite insurance broking licence from the Insurance Regulatory and Development Authority of India. This will allow the firm to offer reinsurance services to its clients beyond insurance broking. This move will aid in the expansion of contribution margins and directly increase the EBITDA margin.
Reinsurance is the system through which some amount of the risk on the books of an insurer gets transferred to another insurance company.
The composite insurance broker licence will enable the company to leverage its technology and data analytics to place reinsurance business at competitive prices
India Ratings & Research (Ind-Ra) upped India's GDP growth forecast for the current fiscal to 7.5 percent from 7.1 percent projected earlier on an expectation of improved consumption demand. The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from Union Budget.
The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy.
"Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 percent.
Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 percent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 percent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a 3-year high of 7.4 percent in FY25, from 4 percent in FY24.
Indian tennis player Yuki Bhambri and his French partner Albano Olivetti won the Swiss Open 2024 doubles event after a come-from-behind victory against the French pair of Fabrice Martin and Ugo Humbert in the final.This is the year’s second ATP Tour title for the Indo-French pair. Bhambri and Olivetti also won the Bavarian International Tennis Championships in Munich April.
Bhambri and Olivetti, seeded third in the ATP 250 tournament, took 69 minutes to defeat their unseeded opponents 3-6, 6-3, 10-6 at the Roy Emerson Arena in Gstaad. Martin and Humbert asserted early dominance by breaking their opponent’s serve in the fourth game. It proved to be decisive as the all-French pair went on to win the set 6-3.
In 2012, the International Association for the Study of Lung Cancer and the Forum of International Respiratory Societies established that August 1 would be recognised annually as World Lung Cancer Day. This observance aims to increase awareness about lung cancer and promote healthier lifestyle choices to mitigate the risk.
Every year since then, August 1 has been dedicated to this cause.
This year, World Lung Cancer Day focuses on the theme ‘Close the Care Gap: Everyone Deserves Access to Cancer Care’, emphasising the need for equitable healthcare access for all individuals affected by cancer.
Muslim Women’s Rights Day is celebrated nationwide on August 1st to mark the enactment of the law against triple talaq. On this day in 2019, the central government made the practice of instant triple talaq a criminal offense. The Muslim Women (Protection of Rights on Marriage) Act, 2019, prohibits the practice of triple talaq in India.
In a bid to boost industrial and real estate growth, Chief Minister Siddaramaiah-led Cabinet in Karnataka approved the renaming of Ramanagara district in the state as Bengaluru South district. This may lead to developers and investors eyeing new projects and developments in the area and help fuel property prices in the area.
This move will help the people of the district to retain their identity as Bengalureans, adding that the IT capital has scope to grow only towards Tumakuru and Ramanagara, as other sides border Tamil Nadu and Andhra Pradesh. Ramanagara town, 50 km from Bengaluru, will continue to serve as the district headquarters, the state government reaffirmed.
Lieutenant Governor Manoj Sinha addressed the Certificate Award Ceremony marking the recognition of Srinagar as a ‘World Craft City’ by the World Crafts Council (WCC).
Srinagar is the 4th city in India to receive the prestigious title of ‘World Craft City’.
The Certificate Award Ceremony was attended by World Crafts Council President Sa’ad Hani Al-Qaddumi and other prominent personalities of the Council. Jammu Kashmir is known as a Crown Jewel of India not only because of its geographical position but also because of its quest for spiritual wisdom and its ageless Indian cultural assets the Lt Governor observed.
Former Indian cricketer Anshuman Gaekwad passed away at 71 after a long battle with cancer. The Mumbai-born cricketer played 55 international matches for India and over 250 domestic matches for Baroda. He made his international debut against West Indies in a Test match at Eden Gardens and played his last ODI game in 1987.
Gaekwad was also the coach of the Indian team that finished runners-up at the 2000 ICC Champions Trophy. Gaekwad has also played 205 first-class matches in a career spanning 22 years.He later took over as coach of the Indian team. His glorious moments came at Sharjah in 1998 and in a Test match at Ferozeshah Kotla Pakistan.
India and Vietnam, two nations with a rich and intertwined maritime history, are joining forces to develop the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat. This partnership, rooted in centuries-old maritime connections, highlights the enduring bond between the two countries and their commitment to preserving and celebrating their shared heritage.
A Memorandum of Understanding (MoU) was signed between India and Vietnam at Hyderabad House in New Delhi,in the presence of Prime Minister Narendra Modi and the Prime Minister of Vietnam Mr. Pham Minh Chinh.This MoU marks a significant step forward in the collaborative efforts to bring the NMHC to life, further strengthening the strategic partnership between the two nations
The collaboration between India and Vietnam on the National Maritime Heritage Complex (NMHC) in Lothal marks a significant milestone in our shared commitment to preserving and celebrating our rich maritime history. The Government of Gujarat has allocated 400 acres of land in the Saragwala village for NMHC,
And has also undertaken the development of external infrastructure for the project. The construction of Phase 1A is in full swing and more than 55% of physical progress has already been achieved. The project will be opened to the public in the next year.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on The Hindusthan Co-operative Bank Limited, Mumbai, for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions - UCBs’, ‘Limits on exposure to single and group borrowers/parties and large exposure -UCBs’ and KYC Norms’.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Alibag Co-operative Urban Bank Limited, Alibag for non-compliance with certain directions issued by RBI on ‘Management of Advances-UCBs’.
The Reserve Bank of India (RBl) has imposed a monetary penalty of ₹2.08 lakh (Rupees Two Lakh and Eight thousand only) on Shrikrishna Co-operative Bank Limited, Umrer, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms /concerns in which they are interested’.
The Reserve Bank of India (RBl) has imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nagnath Urban Co-operative Bank Limited, Hingoli, Maharashtra (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act).
These penalties have been imposed in the exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty totaling Rs 2 crore on HDFC Life for violating various IRDAI regulations,the company informed the exchange in a filing.According to the company, the penalty was levied after an onsite inspection conducted by IRDAI in September 2020, covering the financial years 2017-18,18-19,and 19-20.
The penalty of Rs 1 crore was levied for issues related to the protection of policyholders' interests. Additionally, a penalty of Rs 1 crore was imposed for irregularities concerning the outsourcing of services by the company.
