In a significant development aimed at strengthening long-term financial security and fostering early savings habits, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, has launched the National Pension System Vatsalya (NPS Vatsalya) scheme. Announced in the Union Budget 2024-25 on July 23, 2024,
this innovative pension scheme is designed exclusively for minors, marking a significant advancement in financial planning and setting a new standard for prudent financial management from a young age.
This innovative saving-cum-pension scheme, regulated and administered by the Pension Fund Regulatory Authority of India (PFRDA),
marks a significant advancement in the government’s efforts to enhance financial planning and security across generations. By focusing on intergenerational equity, NPS Vatsalya not only aims to secure the future of its young subscribers but also underscores the importance of nurturing a culture of savings from an early age.
Under the NPS Vatsalya scheme, parents can invest a minimum of ₹1,000 per month with no upper limit, thereby fostering a habit of disciplined savings for their children. The scheme is designed to be operated by parents until the child reaches 18, at which point the account transitions into the child’s name.
Upon reaching adulthood,the account can be seamlessly converted into a regular NPS account or another non-NPS scheme.With the promise of substantial wealth accumulation through the power of compounding,NPS Vatsalya envisions providing a dignified and secure financial future for its subscribers, aligning with the government’s commitment to comprehensive financial well-being.
Under the NPS Vatsalya scheme, all minor citizens up to the age of 18 are eligible to open an account. The account is opened in the name of the minor and managed by their guardian until the child reaches adulthood, ensuring that the minor remains the sole beneficiary throughout the process.
Union Minister of Health and Family Welfare, Shri Jagat Prakash Nadda, inaugurated the second edition of the Global Food Regulators Summit 2024 in the presence of Shri Pralhad Joshi, Union Minister of Consumer Affairs, Food and Public Distribution, and Minister of New and Renewable Energy at Bharat Mandapam, here.
The Summit being organized by the Food Safety and Standards Authority of India (FSSAI) under the aegis of the Ministry of Health and Family Welfare, alongside the World Food India 2024 event being organised by the Ministry of Food Processing Industries, aims to establish a global platform for food regulators to exchange insights on strengthening food safety systems and
regulatory frameworks throughout the food value chain. Several innovative initiatives aimed at transforming food safety practices and enhancing information sharing were launched during the ceremony. Among these initiatives was the introduction of the Food Import Rejection Alerts (FIRA), an online portal
designed to notify the public and relevant food safety authorities about food import rejections at Indian borders.
The summit also unveiled a new website for the Food Import Clearance System 2.0 (FICS 2.0), an advanced version of the Food Import Clearance System for faster processing and transparency,
addresses the limitations of the earlier system by offering a complete online solution with new features, automation, and integration with other relevant portals.
A millets recipe show ‘Flavours of Shree Anna – Sehat aur Swaad Ke Sang’ has been launched as a 13-episode series on Doordarshan, aimed at promoting millet-based recipes.
This initiative seeks to boost nutrition awareness and highlight the health benefits and versatility of millets in everyday cooking. Another significant highlight of the inaugural session was the release of the State Food Safety Index (SFSI) 2024, an annual report evaluating the food safety performance of Indian states and union territories.
Kerala, Tamil Nadu, Jammu & Kashmir, Gujarat, and Nagaland are at the top positions in the index.
Shri G Kamala Vardhana Rao, CEO, FSSAI; Shri US Dhyani, Executive Director, FSSAI and senior officials of the Union Health Ministry were present at the event.
Indian pace spearhead Jasprit Bumrah completed 400 wickets in international cricket, becoming the 10th bowler from his team to do so. Bumrah reached this milestone during India's first Test against Bangladesh at Chennai.
In 196 international matches, Bumrah has taken 401 wickets at an average of 21.01, with the best bowling figures of 6/19.
He is the only sixth Indian pacer to reach this milestone. In 37 Tests, Bumrah has taken 163 wickets at an average of 20.49, with the best figures of 6/27. He has 10 five-wicket hauls in the long format.
The top three wicket-takers for India in international cricket are: Anil Kumble (953 wickets), Ravichandran Ashwin (744 wickets), and Harbhajan Singh (707 wickets).
Delhi's Indira Gandhi International Airport (IGIA) has climbed to 24th place in the latest ranking of global "megahub" airports, up from its previous 25th position, according to international aviation analytics firm OAG. This ranking identifies airports with the highest ratio of scheduled international connections relative to the destinations they serve.
The other Indian airport in the top 50, Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA), has slipped 10 places, now sitting at 44th compared to last year. However, both Delhi and Mumbai airports fare better in OAG’s ranking of megahub airports for low-cost carrier (LCC) operations.
Thanks to IndiGo, the Delhi airport rose to 5th place, up from 6th last year, while Mumbai maintained its position at 11th. Globally, the top five megahubs are London Heathrow, Kuala Lumpur International, Tokyo-Haneda, Amsterdam Schiphol, and Seoul’s Incheon Airport.
The Kuala Lumpur International leads the LCC megahub category, followed by Manila Ninoy Aquino International, Incheon, and Singapore Changi Airport. OAG's rankings are based on flight data from the 100 largest global and international airports, considering their total scheduled seats for the year spanning September 2023 to August 2024.
Paisabazaar, India's leading online marketplace for consumer credit and free credit score platform, has partnered with YES BANK, India's sixth largest private sector bank, to unveil their co-branded credit card - YES BANK Paisabazaar PaisaSave Credit Card.The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchase,
both online and offline, making it a must-have for value-conscious customers.
Cashback* of 3% on online purchases across popular platforms including Amazon, Myntra, Flipkart, Nykaa, Swiggy, Zomato, Tata Cliq, Ajio, among others
After reaching a monthly cashback limit of INR 5,000 on online transactions, users will continue to earn 1.5% cashback* on further online purchase,
Unlimited 1.5% cashback* on all offline purchases, including in-store transactions
Fuel surcharge waiver of 1%* at all fuel stations. The PaisaSave Credit Card provides an easy way for customers to save as they spend, especially on online transactions where cashback is accelerated to 3%.
The card has no joining fee, and the annual fee of INR 499 can be waived off from the second year if users meet the spending threshold of INR 1.2 lakh per annum in the preceding year, making the PaisaSave Credit Card highly cost-effective for regular shoppers. Additionally, customers can opt for a virtual YES BANK Rupay Credit Card while applying, enabling them to make UPI.
Magnus Carlsen and Judit Polgar were felicitated with the best male and female player awards, respectively at the FIDE 100 Awards ceremony in Hungary. Carlsen, ranked world number one, is a part of the Norway team in the ongoing Chess Olympiad 2024.
Carlsen has held the No. 1 position in the FIDE world chess rankings since July 1, 2011, trailing only Kasparov in time spent as the highest-rated player in the world.
Polgar, on the other hand, announced retirement from competitive chess in 2014.
The International Day of Peace (“Peace Day”) is observed around the world each year on 21 September. Established in 1981 by unanimous United Nations resolution, Peace Day provides a globally shared date for all humanity to commit to Peace above all differences and to contribute to building a Culture of Peace.
This year marks the 25th anniversary of the United Nations General Assembly’s adoption of the Declaration and Programme of Action on a Culture of Peace.
The International Day of Peace has always been a time to lay down weapons and observe ceasefires. But it now must also be a time for people to see each other’s humanity. Our survival as a global community depends on that.
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Rajapur Sahakari Bank Ltd., Mumbai, Maharashtra with The Malad Sahakari Bank Ltd., Mumbai, Maharashtra. The Scheme has been sanctioned in the exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.
The Scheme will come into force with effect from September 23, 2024. The branches of The Rajapur Sahakari Bank Ltd., Mumbai (Maharashtra) will function as branches of The Malad Sahakari Bank Ltd., Mumbai (Maharashtra) with effect from September 23, 2024.
The Reserve Bank of India (RBl) has, by an order dated September 13, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Dr. Babasaheb Ambedkar Sahakari Bank Limited, Nashik, Maharashtra (the bank), for non-compliance with directions issued by RBI on ‘Loans and advances to directors, relatives, and firms/concerns in which they are interested’.
The Reserve Bank of India (RBI) has, by an order imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Urban Co-operative Bank Limited., Anantnag (the bank) for non-compliance with directions issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’. This penalty has been imposed in the exercise of powers vested in RBI.
The Reserve Bank of India (RBI) has, by an order imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on Lucknow University Primary Co-operative Bank Ltd., Lucknow (the bank) for non-compliance with the direction issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’.
Online travel tech platform in India, EaseMyTrip.com has introduced ScanMyTrip.com, the country’s first travel marketplace of its kind, the company said in a press release.
It has also become the first OTA (Online Travel Agency) to both offer and purchase travel services through the ONDC Network.
ScanMyTrip.com will serve as a platform where OTAs, MSMEs, travel agents, and homestays can list services such as flights, hotels, and accommodations on the ONDC Network, expanding their reach within the digital marketplace. With EaseMyTrip’s collaboration with the ONDC Network, businesses in the travel and tourism sector can benefit from the digital infrastructure,
provided by ONDC. This partnership enables even small-scale service providers to access a larger customer base. ScanMyTrip.com streamlines the onboarding process, making it simpler for businesses to engage with travellers and thrive in the competitive online marketplace.
The Republic of Korea’s Permanent Representative has been elected as the President of the IAEA’s 68th General Conference.
Sang Wook Ham was appointed as the Republic of Korea’s (ROK) Permanent Representative to the International Organizations in Vienna in 2022 after an extensive service with the ROK Ministry of Foreign Affairs.
The General Conference elects a President at the beginning of each annual session, following consultations among Member States before the conference. They hold office for the duration of the conference. Last year the position was held by Thailand’s Vilawan Mangklatanakul.
Dhruvi Patel, a Computer Information System student from the USA, has been declared the winner of Miss India Worldwide 2024, the longest-running Indian pageant outside of India.
Dhruvi aspires to be a Bollywood actor and UNICEF Ambassador.
Lisa Abdoelhak from Suriname was declared the first runner-up,
while Malvika Sharma from the Netherlands was adjudged the second runner-up in the same race.
In the Mrs category, SuAnn Mouttet from Trinidad and Tobago was the winner, with Sneha Nambiar the first and Pawandip Kaur from the United Kingdom the second-runner up.
In the Teen category, Sierra Suret from Guadeloupe was crowned Miss Teen India Worldwide.
Shreya Singh from the Netherlands and Shradha Tedjoe from Suriname were declared the first and second runners-up.
The beauty pageant is organised by New York-based India Festival Committee and is headed by Indian-Americans Neelam and Dharmatma Saran.
Nikhat Zareen, a world boxing champion and Olympic athlete, has joined the Telangana Police as the Deputy Superintendent of Police (Special Police).
She officially took on her new role by submitting her joining report to the DGP of Telangana Police.
Zareen's new position follows her recent participation in the Paris Olympics.
Competing in the women's 50 kg category, she lost to China's Wu Yu in the pre-quarterfinals. Zareen, who contested as an unseeded boxer, acknowledged that this was the hardest loss she has faced.
