In a significant stride towards fostering collaboration in the field of cooperative management within the fisheries sector, the Central Institute of Fisheries Education (ICAR-CIFE) and the Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM) signed a Memorandum of Understanding (MoU).
This is an important step forward in realization of the vision of establishment of 2 lakh PACS, Dairy, and Fishery Cooperatives in every Panchayat. Fisheries in India provides livelihood to 14.46 million people and this strategic partnership aims to enhance integration and reach of advanced technology as well as promotion of value addition in fishery cooperatives.
VAMNICOM and ICAR-CIFE will together explore new opportunities in the area of Fish, Fish cooperative and Fisheries ecosystem from the perspective of education, research, capacity building and consultancy. The ceremony, held at the ICAR-CIFE campus in Mumbai,was graced by Dr. Ravishankar CN, Director and Vice Chancellor of ICAR-CIFE, and Dr. Hema Yadav, Director of VAMNICOM.
The corporate entity of Visakhapatnam Steel Plant, RINL signed a MoU(memorandum of understanding) with M/s. IOCL for the supply of hydraulic and lubricating oils & greases for a period of 5 years from 2024 to 2029 at a Main conference hall in the administrative building of RINL.
It may be noted that the 1st MoU was signed in the year 1994-95 between RINL & IOCL.
This MOU will benefit VSP by ensuring an uninterrupted and continuous supply of lubricants from IOCL to meet the RINL’s requirements. IOCL will provide technical support to RINL, Visakhapatnam steel plant in the field of lubrication, condition monitoring of critical and large hydraulic and lube systems, total bulk oil handling, and used oil management.
Secretary, Ministry of Textiles chaired the 8th Empowered Programme Committee (EPC) meeting under the National Technical Textiles Mission, at Udyog Bhawan, New Delhi. The committee has approved 4 Start-Ups with a grant of approx. INR 50 Lakhs, each, under the ‘Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)’ scheme.
The committee has also approved a grant of approx. INR 20 Cr. to 5 Education Institutes to introduce courses in Technical Textiles under the ‘General Guidelines for Enabling of Academic Institutes in Technical Textiles’.
The approved Start-Up projects are focused on key strategic areas of Composites, Sustainable Textiles, and Smart Textiles.
The approved Education Institutes have proposed to introduce a new B.Tech courses in different fields and applications of technical textiles including Geotextiles, Geosynthetics, Composites, Civil Structures, etc.
The National Human Rights Commission (NHRC), India announced the results of its online human rights photography competition 2024 organized in collaboration with MyGov. The Full Commission Jury comprising of the Acting Chairperson,Secretary General, Divisional Heads and an external expert after due deliberations did not find any photograph suitable for the 1st and 2nd prizes
However, one photograph was chosen for the third prize of Rs. 5,000/- and 5 for the consolation prize of Rs. 2,000/- each.
This competition aimed to capture visual impressions of human rights situations related to these themes which may ignite the rights consciousness, positivity in adversity, and imagination of the people to work for the betterment of society.
GST taxpayers who do not furnish bank account details to GST authorities will be barred from filing outward supply return GSTR-1 from September 1, GST Network (GSTN) has said in an advisory.
As per GST Rule 10A, a taxpayer is required to furnish details of a valid bank account within 30 days from the date of grant of registration, or,
before furnishing the details of outward supplies of goods or services or both in Form GSTR-1 or using Invoice Furnishing Facility (IFF), whichever is earlier.
The GST Council in its meeting in July last year, had approved an amendment to Rule 10A to strengthen the registration process and to effectively deal with the menace of fake and fraudulent registrations in GST.
As per the amendment, a registered taxpayer was required to furnish the details of their bank account having his name and PAN within 30 days of the grant of registration or before filing a statement of outwards supply in Form GSTR-1/IFF (invoice furnishing facility), whichever is earlier.
In the advisory, the GSTN asked all the taxpayers who have not yet furnished the details of a valid bank accounts to add their bank account information in their registration details by visiting the GST portal.
Bharti Airtel has partnered with Apple to bring exclusive offers for Apple Music and Apple TV+ to customers in India later this year, the telecom company said.
Apple TV+ will be included on Airtel’s video-streaming service Xstream with premium wifi and postpaid plans, and users of the company’s music-streaming service,Wynk Premium, will have access to offers on Apple Music.
Bharti Airtel did not disclose a deal value for the partnership, nor did it provide information on the costs of the plans.
This comes as Disney and Reliance try to secure India antitrust approval for their $8.5 billion merger, aiming to create India’s biggest entertainment player.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) which completed ten years of its implementation on Wednesday has had a profound impact on every corner of the country.
The scheme launched in 2014, has proven to be the foundation stone in bringing over 80 percent of Indian women under the ambit of financial inclusion.
A significant boost in the bank account ownership of women in a decade, it has gone up from just 26 percent in 2011 to 78 percent in 2021.
Out of the total 53.13 crore Jan Dhan accounts over 30 crore are women's accounts. Over 35 crore of the Jan Dhan account hail from rural or semi-urban areas.
PM Jan Dhana Yojana has diminished the rural-urban divide in terms of bank accounts. The percentage of households that have a bank account or a post office account is now almost the same in urban and rural areas, 95 percent vs 96 percent respectively.
PM Jan Dhan Yojana has also bridged the gender gap in access to financial services.
The gender gap in accessing financial services was 20 percent in 2011, and it has been reduced to 6 percent in 2017 which was less than the Global gap of 9 percent.
PMJDY has other benefits as well in terms of financial inclusion. As of August 2024, over 36.13 crores of RuPay debit cards are issued without any cost to Jan Dhan account holders.
The RuPay debit card is free of cost, gives an insurance benefit of ₹ 2 lakh along with an overdraft facility of up to Rs10,000 to every cardholder.
PMJDY has been the foundation stone for many more people-centric economic initiatives. Whether it is direct benefit transfers, COVID-19 financial assistance,PM-KISAN, increased wages under MGNREGA, or life and health insurance.
In 2023,a G20 report by the World Bank reveals that India has achieved its financial inclusion goals in just 6 years,a feat that would have taken 47 years without its advanced Digital Public Infrastructure.
India has surpassed China in financial inclusion metrics says the SBI report of 2021. Mobile and Internet banking transactions soared to 13,615 per 1,000 adults in 2020.
up from 183 in 2015, while the number of bank branches per 100,000 adults rose to 14.7, exceeding those in Germany, China, and South Africa.
India's account ownership more than doubled from 35 percent in 2011 to 78 percent in 2021. All these are because of the government's various initiatives for financial inclusion.
Jana Small Finance Bank has once again cemented its status as a frontrunner in the Indian banking industry. The bank's commitment to excellence and innovation was recognized at the prestigious 2nd ICC Emerging Asia Banking Conclave & Awards, where it clinched four coveted awards.
Jana Small Finance Bank was honoured with the titles of Best Small Finance Bank, India, Best Performance on Profitability (Runners-up), Best Performance on Asset Quality, and Best Performance on Risk Management. This quadruple win underscores the bank's exceptional performance across key metrics and its dedication to providing innovative financial solutions.
The Himachal Pradesh government has allocated Rs 53.21 crore annually to the 'Mukhya Mantri Sukh Shiksha Yojana,' a scheme aimed at providing financial assistance to widows, destitute women, divorced women, and disabled parents to support the education and well-being of their children.
The scheme targets two specific age groups. For children under 18 years, eligible women and disabled parents will receive a monthly grant of Rs1,000 to cover educational, health, and nutritional expenses.
Additionally, children who secure admission to undergraduate, postgraduate, diploma, or vocational courses will receive financial aid from the government to cover,
tuition and hostel costs.
The scheme aims to prevent issues such as child abuse, trafficking, teenage marriages, and drug abuse by strengthening child protection at the family level.
All eligible women, children, and individuals with a family income not exceeding Rs1 lakh per annum are covered under the scheme.
Rajasthan Chief Minister Bhajan Lal Sharma on announced a new religious circuit called ‘Shri Krishna Gaman Path’ which will connect Krishna’s birthplace Mathura with Ujjain in Madhya Pradesh.
The Chief Minister said that this new circuit will be built connecting the places where Krishna left his footprints while travelling to Ujjain from his birthplace in Mathura.
He said that both governments will work jointly for the development of this circle while identifying the places where he (Krishna) left his footprints while travelling from Mathura to Ujjain.
BCCI Secretary Jay Shah was elected unopposed as the new Chairman of the International Cricket Council (ICC). Shah, currently serving as the Secretary of the Board of Control for Cricket in India (BCCI), will officially assume the role on December 1, 2024.
This election marks a significant milestone as Shah becomes the youngest person to lead the global cricket governing body.
At 35 years old, Jay Shah will be the youngest person to head the ICC. His appointment also marks the fifth time an Indian has held the chairman position, following Jagmohan Dalmiya, Sharad Pawar, N Srinivasan, and Shashank Manohar.
Shah will leave his current position as BCCI secretary, which he has held since 2019, in the Board's Annual General Meeting to be held towards the end of the next month or in October.
Shah is currently the head of ICC's most powerful sub-committee, the Finance and Commercial Affairs (F&CA), a role that he took over in 2022.
The Centre appointed 1992 batch Indian Police Service (IPS) officer B Srinivasan as the new director general of the National Security Guard (NSG).
Srinivasan, a 1992 batch Bihar cadre IPS officer, takes over as NSG director general after Nalin Prabhat's departure to being deputed as Jammu and Kashmir's Special Director General of Police.
The Appointments Committee of the Cabinet has approved appointment of Srinivasan as Director General, NSG, from the date of joining the post and up to August 31, 2027 i.e., the date of his superannuation. The Centre had curtailed Nalin Prabhat's tenure as NSG director general and facilitated his inter-cadre deputation from Andhra Pradesh to the,
Union Territories cadre (AGMUT) for an initial period of three years.
Prabhat, a 1992 batch Andhra Pradesh IPS officer will take over as special DG of Jammu and Kashmir Police following the retirement of RR Swain on September 30.
Prabhat has had a distinguished career marked by multiple accolades, including three Police Gallantry Medals and the Parakram Padak.
Following the appointment of Nalin Prabhat as J&K special DG, the Centre had assigned an additional charge to Central Reserve Police Force (CRPF) director general Anish Dayal Singh.
He 1988-batch Indian Police Service (IPS) officer of the Manipur cadre, and will hold the additional charge of director general (DG) NSG.
Following the appointment of Nalin Prabhat as J&K special DG, the Centre had assigned an additional charge to Central Reserve Police Force (CRPF) director general Anish Dayal Singh.
He 1988-batch Indian Police Service (IPS) officer of the Manipur cadre, and will hold the additional charge of director general (DG) NSG.
The Indian economy is expected to grow at 7.0-7.1 percent in the April-June period, the first quarter of 2024-25, according to a report by SBI Research, However, this growth forecast comes with a downward bias.
SBI Research, in its latest Ecowrap report authored by Group Chief Economic Adviser Soumya Kanti Ghosh, noted that the Indian economy remained resilient despite,
challenges from supply chain pressures, including rising global freight and container costs, and semiconductor shortages.
The Reserve Bank of India, in its latest monetary policy meeting, projected GDP growth for 2024-25 at 7.2 percent, with growth for Q1 expected at 7.1 percent, Q2 at 7.2 percent, Q3 at 7.3 percent, and Q4 at 7.2 percent.
The Reserve Bank of India will launch a Unified Lending Interface (ULI) that will transform the lending ecosystem in the country like the Unified Payments Interface (UPI) has done for the payments system, RBI Governor Shaktikanta Das said.
The ULI will facilitate seamless and consent-based flow of digital information, like PAN and Aadhaar records, previous lending history, income and credit records of individuals, as well as land records of various states, from multiple data service providers to lenders. This will reduce the time taken for credit appraisal, especially for smaller and rural borrowers.
According to the Governor, the ULI architecture will have common and standardised APIs (Application Programming Interface), designed for a 'plug and play' approach to ensure digital access to information from diverse sources.
Das said the ‘new trinity’ of JAM-UPI-ULI will be a revolutionary step forward in India’s digital infrastructure journey.
JAM refers to Jan Dhan, Aadhaar and Mobile. Like UPI, the Unified Lending Interface is also expected to be user-friendly and reduce the complexity of multiple technical integrations. It is expected to enable borrowers to get the benefit of seamless delivery of credit, and quicker turnaround time without requiring extensive documentation.
Reserve Bank of India (RBI) has imposed a penalty of Rs3.50 lakh on two cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Manipur State Cooperative Bank Ltd.
The other bank penalised by RBI is Cuttack-based Urban Cooperative Bank Ltd.
Manipur State Cooperative Bank has been penalised for contravention of provisions of Section 9 of the Banking Regulation Act (BR Act) and non-compliance with the provisions of the Credit Information Companies (CIC) Regulation Act. Urban Cooperative Bank was fined Rs1.50 lakh for failing to comply with RBI directives on know-your-customer (KYC),
exposure and other statutory restrictions specific to urban cooperative banks (UCBs).
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.25 lakh (Rupees One lakh twenty-five thousand only) on The Valsad Mahila Nagarik Sahakari Bank Ltd., Valsad, Gujarat (the bank) for non-compliance with certain directions issued by RBI,
On ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’, ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’, ‘Know Your Customer (KYC) norms’ and ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’.
