The Union Cabinet chaired by Prime Minister, Shri Narendra Modi approved the progressive expansion in the Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’ to make it more attractive, impactful, and inclusive. In a significant move to enhance and strengthen the agricultural infrastructure in the country and support the farming community,
The government has announced a series of measures to expand the scope of Agricultural Infrastructure Fund (AIF) scheme. These initiatives aim to expand the scope of eligible projects and integrate additional supportive measures to foster a robust agricultural infrastructure ecosystem.
Viable Farming Assets: To allow all eligible beneficiaries of scheme to create of infrastructure covered under 'viable projects for building community farming assets'.
Integrated Processing projects: To include integrated primary secondary processing projects in eligible activities under AIF. However standalone secondary projects would not be eligible under MoFPI schemes.
PM KUSUM Component-A: To allow convergence of Component-A of PM-KUSUM with AIF for farmers/groups of farmers/ Farmer Producer Organizations/ Cooperatives/ Panchayats.
NABSanrakshan: In addition to CGTMSE, it is proposed to extend AIF credit guarantee coverage of FPOs through the NABSanrakshan Trustee Company Pvt. Ltd. also.
Since its launch by the Prime Minister in 2020, AIF has been instrumental in supporting the creation of 6623 warehouses, 688 cold stores, and 21 silos projects, resulting in additional storage capacity of about 500 LMT in the country. This includes 465 LMT of dry storage and 35 LMT of cold storage capacity.
With this additional storage capacity, 18.6 LMT of food grains and 3.44 LMT of horticulture produce can be saved annually. Rs. 47,575 Crore has been sanctioned for 74,508 projects under AIF till date. These sanctioned projects have mobilized an investment of Rs 78,596 Crore in the agriculture sector, out of which Rs.78,433 Crore has been mobilised from private entities.
In addition, infrastructure projects sanctioned under AIF have helped in generating more than 8.19 Lakh rural employment opportunities in the agriculture sector.
The expansion in the scope of the AIF scheme is poised to further drive growth, improve productivity, enhance farm incomes, and contribute to the overall sustainability of agriculture in the country.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra Modi, has approved 3 (Three) projects of the Ministry of Railways with a total estimated cost of Rs. 6,456 Crore (approx.).
The approved projects will improve logistical efficiency by connecting the unconnected areas, increasing the existing line capacity and,
enhancing transportation networks, resulting in streamlined supply chains and accelerated economic growth. The new line proposals will provide direct connectivity and improve mobility, providing enhanced efficiency and service reliability for Indian Railways.
The projects are the result of PM-Gati Shakti National Master Plan for multi-modal connectivity which has been possible through integrated planning and will provide seamless connectivity for the movement of people, goods, and services.
The 3 (Three) projects covering 7 Districts in 4 States i.e., Odisha, Jharkhand, West Bengal and Chhattisgarh,
will increase the existing network of Indian Railways by about 300 Kms.
With these projects 14 New Stations will be constructed, providing enhancing connectivity to 2 (Two) Aspirational Districts (Nuapada and East Singhbum). New Line projects will provide connectivity to approx. 1,300 villages and about 11 Lakh population.
Multi-tracking project will enhance connectivity to approx. 1,300 villages and about 19 lakh population.
These are essential routes for transportation of commodities such as agricultural products, fertilizer, coal, iron ore, steel, cement, limestone etc. The capacity augmentation works will result in additional freight traffic of magnitude 45 MTPA (Million Tonnes Per Annum)
The Railways being environment friendly and energy-efficient mode of transportation, will help both in achieving climate goals and minimizing logistics cost of the country, reduce oil import (10 Crore Litres) and lower CO2 emissions (240 Crore Kg) which is equivalent to plantation of 9.7 Crore trees.
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the proposal for the conduct of 3rd batch of ascending e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs.784.87 crore under the Private FM Radio Phase Ill Policy.
State-wise list of the cities / towns and the number of Private FM channels approved for fresh auctions is enclosed as Annexure.
The Cabinet also approved the proposal to charge Annual License Fee (ALF) of FM channel as 4% of Gross Revenue excluding Goods and Services Tax (GST). This will be applicable to 234 new cities/towns.
The Private FM Radio rollout in 234 new cities/towns will fulfill the unmet demand for FM radio in these cities/towns, which still remain uncovered by Private FM radio broadcasting and bring new / local content in the mother tongue.
It will lead to creation of new employment opportunities, boost to local dialect and culture and ‘vocal for local’ initiatives.
The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investment of Rs. 28,602 crore. This move is set to transform the industrial landscape of the country,
creating a robust network of industrial nodes and cities that will significantly boost economic growth and global competitiveness.
Spanning across 10 states and strategically planned along 6 major corridors, these projects represent a significant leap forward in India's quest to enhance its manufacturing capabilities and economic growth.
These industrial areas will be located in Khurpia in Uttrakhand, Rajpura-Patiala in Punjab, Dighi in, Maharashtra, Palakkad in Kerela, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP and Jodhpur-Pali in Rajasthan.
Strategic Investments: These industrial nodes will act as catalysts for achieving $2 trillion in exports by 2030,
reflecting the government's vision of a self-reliant and globally competitive India.
Smart Cities and Modern Infrastructure: The new industrial cities will be developed as greenfield smart cities of global standards, built "ahead of demand" on the 'plug-n-play' and 'walk-to-work' concepts.
Area Approach on PM GatiShakti: Aligned with the PM GatiShakti National Master Plan, the projects will feature multi-modal connectivity infrastructure, ensuring seamless movement of people, goods, and services.
Vision for a 'Viksit Bharat': The approval of these projects is a step forward in realizing the vision of ‘Viksit Bharat’ - a developed India.
Economic Impact and Employment Generation: NICDP is expected to generate significant employment opportunities, with an estimated 1 million direct jobs and upto 3 million indirect jobs being created through planned industrialization.
Commitment to Sustainable Development: The projects under the NICDP are designed with a focus on sustainability,
incorporating ICT-enabled utilities and green technologies to minimize environmental impact.
The approval of 12 new industrial nodes under the NICDP marks a significant milestone in India's journey towards becoming a global manufacturing powerhouse.
India and Russia sign working plan of Joint Russian- Indian Commission on the Cooperation in the Field of Emergency Management for 2025-2026
Both countries agreed to implement the Plan during 2025-2026 and decided to continue the exchange of the best practices in the field of Disaster Management.
The Competition Commission of India (CCI) has approved the proposed combination involving Reliance Industries Limited (RIL), Viacom18 Media Private Limited (Viacom18), Digital18 Media Limited, Star India Private Limited (SIPL) and Star Television Productions Limited (STPL), subject to the compliance of voluntary modifications.
The proposed combination envisages combining the entertainment businesses (along with certain other identified businesses) of Viacom18, part of the RIL group, and SIPL, wholly owned by The Walt Disney Company (TWDC). As a result of the transaction, SIPL, currently a wholly owned entity of TWDC through its subsidiaries, shall become a joint venture (JV),
which will be jointly held by RIL, Viacom18 and existing TWDC subsidiaries.
The merger of Reliance and Disney's entertainment businesses, a deal valued at over Rs 70,000 crore or $8.5 billion. The merger will result in the creation of India's largest entertainment company, boasting 120 TV channels and two streaming services.
Following the merger, Reliance will hold a 63.16 percent stake in the combined entity, while Walt Disney will retain the remaining 36.84 percent stake.
The Department of Economic Affairs, Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956 to ease the listing requirements for Indian companies seeking to list on international exchanges within International Financial Service Centres (IFSCs) at par with global standards.
‘Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme’ under the Foreign Exchange Management (Non-Debt Instruments), 2019 and Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024 together, provide an overarching regulatory framework to enable public Indian companies,
to issue and list their shares in permitted international stock exchanges at GIFT-IFSC. To further facilitate this, the new rules stipulate that:
Minimum Public Offer: For public Indian companies desiring to list solely on international exchanges in IFSCs,the minimum offer and allotment to the public as per the offer document shall be at least 10% of the post-issue capital.
Continuous Listing Requirements: The continuous listing requirement for such companies has also been set at 10%, as outlined under Rules 19 (2)(b) and 19A of the SCRR.
By reducing these thresholds, the amendments in SCRR facilitate easier access to global capital for Indian start-ups and companies in the sunrise and the technology sectors.
This will particularly benefit Indian companies going global and having ambitions to look at opportunities for expanding their presence in other markets.
This initiative underscores the Government's commitment to providing an agile and world-class regulatory and business environment in the IFSCs, thereby strengthening India's position in the global financial system.
Shriram Capital Pvt Ltd, the holding company of the Shriram Group, announced the appointment of Subhasri as the company’s Managing Director and CEO, effective September 1, 2024.
Currently serving as the Joint Managing Director, Subhasri will step into her new role as MD and CEO.
Subhasri’s association with the Shriram Group began in 1991 as an Officer in the NBFC business,
And she has since been instrumental in driving the company’s growth and expansion. She is a Fellow of the Institute of Company Secretaries of India and the Institute of Cost & Works Accountants of India. Previously, she held positions as Executive Director and CFO of Shriram City Union Finance (now Shriram Finance) and Joint MD of Shriram Capital Pvt Ltd.
ESAF Small Finance Bank has launched the Inori RuPay Platinum Credit Card, a premium financial product designed in collaboration with the National Payments Corporation of India (NPCI) to offer cardholders exclusive benefits and privileges.
The card’s name “Inori” is derived from the Japanese word for “wish,” symbolising our aspiration,
to fulfill the desires and expectations of customers. Cardholders can enjoy a range of rewards, including exciting cashback offers on monthly transactions and comprehensive insurance coverage of up to ₹2 lakh. Additionally, the card provides access to exclusive merchant offers and global acceptance.
The RuPay Platinum Credit Card also includes personalized concierge services, offering assistance with travel, dining, and lifestyle needs.
K Paul Thomas is the MD and CEO of ESAF Small Finance Bank.
Defence minister Rajnath Singh is set to commission India’s second nuclear-powered ballistic missile submarine (SSBN),INS Arighat or S-3, in the presence of top naval officials at a quiet event in Visakhapatnam. The commissioning will be attended by Chief of Naval Staff Admiral Dinesh Tripathi, head of Indian strategic command Vice Admiral Suraj Berry and top DRDO official.
The SSBN will function under India's strategic command. While the defence ministry was tight-lipped about the classified project, HT has learnt that the 6,000-tonne INS Arighat is set to embark on a long-range patrol of the Indo-Pacific armed with 750-km range nuclear ballistic missiles K-15. India’s third SSBN, INS Aridaman or S4, is also set to be commissioned next year,
followed shortly after by a fourth SSBN codenamed S-4*, the people said on condition of anonymity.
India will now have two SSBNs – INS Arihant (S-2) and INS Arighat -- patrolling the high seas as a crucial part of the country’s nuclear triad and second-strike capability (due to its no-first-use policy).
In Iran, for the first time, a woman will be the government spokesperson. At the suggestion of Iranian President Masoud Pezeshkian and with the approval of the Cabinet of Ministers, Fatemeh Mohajerani was appointed as the first female government spokesperson.
Mohajerani, 54, is a Doctor of Business Administration from Edinburgh and,
has earlier served as the head of the Technical and Vocational Training University of Shariati (for women).
This is the latest appointment of a woman to a senior position. Besides her, three women hold high positions in the government including Shina Ansari who was appointed last week as head of the Department of Environment.
Vice Admiral Rajesh Dhankhar NM, assumed duties of the Director General Project Seabird, with a charter to oversee the largest defence infrastructure project currently progressing at the Karwar Naval Base, from Vice Admiral Tarun Sobti, on 28 August 2024. The change of guard took place at the Headquarters, of Project Seabird, New Delhi.
VAdm Rajesh Dhankhar was commissioned into the Indian Navy on 01 July 1990 and is a specialist in Navigation & Direction.
The Flag Officer is an alumnus of the prestigious Naval Academy, Defence Services Staff College, and has undergone the Higher Command Course in Japan. During his illustrious career spanning 34 years,
the Flag Officer has tenanted specialist appointments onboard warships Pondicherry, Godavari, Kora, and Mysore. The officer has also done instructional tenures in the erstwhile Project 15 Training Team, Navigation & Direction School and at the MIDS Wing Officer's Cadet School, Singapore.
His command appointments include Executive Officer onboard INS Delhi, and as Commanding Officer onboard INS Gharial, Mumbai, and Vikramaditya. The Flag Officer is a recipient of the Nao Sena Medal (Gallantry) in 2015 for Non-Combatant Evacuation Operations (NEO) of Indian nationals from Aden and Al-Hodeida, Yemen.
Indian Railways Management Service (IRMS) officer Satish Kumar has been appointed as the chairman and chief executive officer of the Railway Board, a government order said, making him the first ever member from a Scheduled Caste community selected for the board’s top post.
Kumar, whose tenure is set to begin on September 1, will replace the current chairperson and CEO of the board, Jaya Varma Sinha, who is superannuating on August 31. When she took charge on September 1 last year, Sinha became the first woman to be appointed as the CEO of the board, the topmost post in the Indian Railways.
The Union government, in an order on July 29, appointed current Railway Board chairperson Jaya Varma Sinha as an administrative member in the Central Administrative Tribunal (CAT).
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹8.00 lakh (Rupees Eight lakh Only) on the Mahoba Urban Co-operative Bank Ltd., Mahoba, Uttar Pradesh (the bank) for contravention of the provisions of section 26A(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act), non-compliance with directions issued By,
RBI on ‘Income Recognition, Asset Classification, Provisioning, and Other Related Matters – UCBs’ and ‘Exposure Norms and Statutory / Other Restrictions – UCBs’.
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on the Uttarkashi Zila Sahkari Bank Ltd., Uttarkashi (the bank),
For contravention of the provisions of section 20(1) and section 26A(2) read section 56 of the Banking Regulation Act, 1949 (BR Act).
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹3.00 Lakh (Rupees Three Lakh only) on the U. P. Postal Primary Co-operative Bank Ltd., Lucknow (the bank),
For non-compliance with the specific directions issued by RBI under the Supervisory Action Framework (SAF). This penalty has been imposed in the exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.
Reserve Bank of India (RBI) has imposed a penalty of Rs3.91 crore on two non-banking financial companies (NBFCs), Innofin Solutions Pvt Ltd and NDX P2P Pvt Ltd, for violating various rules and regulations set by the banking regulator.
Innofin Solutions, also known as LenDen Club and NDX P2P, also known as LiquiLoans, were fined Rs1.99 crore and Rs1.92 crore, respectively,
For non-compliance with certain provisions of the NBFC - peer-to-peer lending platform RBI directions, 2017 and guidelines on digital lending.
Issues like, the use of space monitoring technologies for risk forecasting and emergency response, the Exchange of experience in responding to large-scale disasters, and, Cooperation in the field of training of fire and rescue specialists, were discussed during the meeting.
Under the leadership of Prime Minister Shri Narendra Modi and the guidance of Union Home Minister Shri Amit Shah, the Government is making sustained efforts to make India, disaster-resilient.
Reserve Bank of India has imposed monetary penalties on five urban cooperative banks, totaling Rs 36.50 lakh crore.
Shikshak Sahakari Bank in Nagpur was fined Rs 25 lakh, while the Cooperative Bank of Rajkot faced a penalty of Rs 8 lakh.
The Maharashtra Nagari Sahakari Bank, Nashik Jilha Mahila Sahakari Bank, and Gandhidham Mercantile Cooperative Bank,
were also among those penalized.
The RBI also extended the period of directions for Thodupuzha Urban Cooperative Bank and Saibaba Janata Sahakari Bank by an additional three months.
Maharashtra Nagari Sahakari Bank Limited in Latur was fined Rs 2 lakh for violations related to Income Recognition and Asset Classification (IRAC) norms and contraventions of sections of
26A and 56 of the Banking Regulation Act, 1949.
Gandhidham Mercantile Co-operative Bank Limited in Kachchh was penalized Rs 1 lakh for failing to adhere to directions on donations to trusts and institutions where directors or their relatives hold positions or have an interest.
The Nashik Jilha Mahila Sahakari Bank Ltd. was fined Rs 50,000 for contraventions of section 26 A(2) of the Banking Regulation Act.
