As announced by the Finance Minister on 23rd July 2024 in the Union Budget 2024-25, the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from current Rs. 10 lakh to Rs. 20 lakh. This increase aspires to further the overall objective of the Mudra Scheme which is Funding the Unfunded.
This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion. The move is in alignment with the government’s commitment to fostering a robust entrepreneurial ecosystem.
As per the notification issued in this regard, the new category of Tarun Plus is for Loans above Rs. 10 lakh and,
upto Rs. 20 lakh and would be available to the entrepreneurs who have availed and successfully repaid previous loans under the Tarun category. The guarantee coverage of PMMY loans upto Rs. 20 lakh will be provided under the Credit Guarantee Fund for Micro Units (CGFMU).
Shri Rajiv Ranjan Singh alias Lalan Singh, Minister of Panchayati Raj, Shri (Dr.) Jitendra Singh, Minister of State (Independent Charge) for Science and Technology & Earth Sciences, and Prof. S. P. Singh Baghel, Minister of State for Panchayati Raj, launched Gram Panchayat-Level Weather Forecasting in Vigyan Bhawan, New Delhi.
This initiative, developed in collaboration between the Ministry of Panchayati Raj (MoPR) and the India Meteorological Department (IMD), Ministry of Earth Sciences (MoES), marks a major step forward in climate preparedness at the grassroots level. This significant endeavour is part of the Government’s 100 Days Agenda and reflects a Whole of Government approach,
with the Ministry of Panchayati Raj working closely with expert Departments to bring transformative changes in grassroots governance. The initiative will provide Gram Panchayats with a five-day weather forecast and hourly updates, enabling rural communities to better plan agricultural activities and prepare for weather-related risks.
The weather forecasting data will be accessible through digital platforms such as Meri Panchayat app, eGramSwaraj, and Gram Manchitra, that play a crucial role in streamlining governance and fostering transparency at the grassroots level. The eGramSwaraj platform helps with project tracking and resource management, while the Meri Panchayat app promotes community engagement.
Reliance Industries and Nvidia announced a partnership to build large-scale AI infrastructure in India in a move that could accelerate India's artificial intelligence capabilities. The announcement came during a fireside chat between Reliance Chairman Mukesh Ambani and Nvidia CEO Jensen Huang at the Nvidia AI Summit 2024 in Mumbai.
The partnership will see Reliance deploying Nvidia's latest GB 200 supercomputer technology to build a massive AI infrastructure.
The collaboration aims to make AI accessible and affordable to India's 1.4 billion population, following a model similar to what Reliance's Jio did for mobile data.
The Asian Development Bank (ADB) has approved a USD 434.25 million (about Rs 3,600 crore) loan to increase renewable energy capacity and improve energy security in Assam.
This project will help Assam develop a renewable energy road map and increase its solar energy capacity to achieve its target of 3,000 megawatts (MW) by 2030, it said.
The Assam Solar Project will construct a grid-connected solar photovoltaic (PV) facility in Karbi Anglong district with a capacity of 500 MW, it said, adding the project will support the development of a grid-connected battery energy storage system to ensure grid stability and meet peak power demand.
This storage system will be established through a joint venture between the Assam Power Distribution Company Limited (APDCL) and the Oil and Natural Gas Corporation Ltd. Tripura Power Company Ltd, it said.
The project will help establish a PPP agreement to develop an additional 250 MW solar PV facility in the Karbi Anglong district, it added.
ADB will provide an additional $1 million technical assistance grant from its Clean Energy Fund under the Clean Energy Financing Partnership Facility to support project implementation, awareness-raising, and capacity building of the APDCL and surrounding communities, it said.
ADB Established in 1966, it is owned by 69 members.
Global industry body International Copper Association (ICA) has elected Aditya Birla Group firm Hindalco Industries Ltd as its newest member.
Operating since 1958, Hindalco Industries., the metals flagship firm of the Aditya Birla Group, is a leading copper and aluminium producer.
The company produces copper cathodes and continuous cast copper rods for domestic and international markets.
ICA is a not-for-profit trade association representing half the world's copper production, with 33 members across six continents. Headquartered in Washington, it operates in the US, Europe, Asia and Latin America.
The Indian Institute of Management Shillong, through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has inked a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI).
By leveraging SIDBI’s vast network and IIMSFIE’s infrastructure and experience, the initiative is expected create a robust support system,
the initiative is expected create a robust support system to nurture innovative start-ups and enterprises.
As part of this collaboration, IIMSFIE will introduce the Skill to Enterprise Model (STEM) Programme in partnership with SIDBI. The STEM Programme is designed to equip aspiring entrepreneurs with the skills, knowledge, and
mentorship needed to transform their innovative ideas into successful businesses.
Under this, the IIMSFIE will offer an intensive 18-month entrepreneurship training programme designed for 30 selected candidates. This comprehensive programme combines rigorous classroom teaching, hands-on training, incubation support at IIMSFIE, and personalised mentorship.
On the other hand, Meghalaya government signed a Master Agreement (MA) with SIDBI for availing soft loans under SIDBI Cluster Development Fund (SCDF) scheme. The pact was signed by Commissioner and Secretary, Finance department, Dr Vijay Kumar D, and General Manager, Guwahati RO In-charge, SIDBI, Bhanu Prakash Verma, in Shillong.
Indian Navy’s Destroyer INS Delhi, German Navy’s Frigate Baden-Württemberg, and Tanker Frankfurt Am Main undertook a Maritime Partnership Exercise (MPX) in the Indian Ocean. The exercises conducted include cross-deck flying operations, underway replenishment, weapon firing, and tactical manoeuvres.
The maiden IN – GN Maritime Partnership Exercise in the Bay of Bengal is aimed at further strengthening the maritime connection between the two nations and interoperability between the navies.
INS Delhi is the lead ship of her class of guided missile destroyers and is part of the Eastern Fleet of the Indian Navy. Baden-Württemberg is the lead ship of the F125 class of,
German Navy frigates. Frankfurt Am Main is the second ship of the Berlin-class replenishment ships of the German Navy.
The Department of Pension and Pensioners' Welfare (DoPPW) recently announced that central government pensioners aged 80 and older will qualify for an additional pension called compassionate allowance. New guidelines have been issued for central government civil service retirees who reach the age of 80 to access these supplementary benefits.
The guidelines simplify the process for distributing these additional allowances.
Additional compassionate allowance shall be payable in the following manner:
From 80 to 85 years of age: 20 percent of basic pension/compassionate allowance.
From 85 to 90 years of age: 30 percent of basic pension/compassionate allowance.
From 95 to 100 years of age: 50 percent of basic pension/compassionate allowance.
100 years or more: 100 percent of basic pension/compassionate allowance.
The additional pension or compassionate allowance will be effective from the first day of the month in which the pensioner reaches the designated age.
Axis Bank has confirmed the reappointment of Amitabh Chaudhry as Managing Director and Chief Executive Officer for an additional three years, following approval from the Reserve Bank of India (RBI). Chaudhry’s extended term will commence in January 2025 and conclude on December 31, 2027.
This decision had earlier gained shareholder approval during the bank’s 30th Annual General Meeting on July 26, 2024.
Chaudhry, who joined Axis Bank in 2019 after a nine-year tenure with HDFC Life, has played a pivotal role in the bank’s growth.
Bihar Chief Minister Nitish Kumar inaugurated and laid the foundation stone for various projects worth Rs 7,160 crore. The projects for which the CM virtually laid the foundation stones include 2,615 panchayat government buildings in different blocks in the state and a panchayat resource center in Sonepur in the Saran district.
Kumar also inaugurated 13 district panchayat resource centres, 65 panchayat government buildings, an e-gram kachhari court management system and portals of several district councils at a function held at the official residence of the CM.
The government has set a target of constructing such buildings in every gram panchayat.
Initially, 330 panchayat government buildings were built.
Of 8,053 panchayat buildings in the state, 6,858 have been approved. Out of these, 1,548 are complete and the rest are under construction.
Besides, the CM said there are 1,09,321 wards in the state and there is a target to install 11,75,740 street lights in these areas.
In 1972, the General Assembly established World Development Information Day to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them (resolution 3038(XXVII)). The Assembly decided that the date for the Day should coincide with United Nations Day, 24 October, which was also the date of the adoption,
in 1970, of the International Development Strategy for the Second United Nations Development Decade.
The Assembly deemed that improving the dissemination of information and the mobilization of public opinion, particularly among young people, would lead to greater awareness of the problems of development, thus, promoting efforts in the sphere of international development.
Union Minister Rajiv Ranjan Singh on Friday launched 21st Livestock Census, to be conducted till February next year at a cost of Rs 200 crore and said the availability of precise data will help the government frame policies for ensuring health security of animals and achieve higher growth in the sector.
Singh, who is Minister of Fisheries, Animal Husbandry, and Dairying, also launched a USD 25 million 'Pandemic Fund Project' to strengthen animal health security in India for pandemic preparedness and response.
The 21st Livestock Census will be conducted during October 2024 - February 2025.
At all-India level, around 1 lakh field officials who are mostly veterinarians or para-veterinarians will be involved in the enumeration process.
The census will capture data on 219 indigenous breeds of 16 species.
The census will collect data on 15 species of livestock-- Cattle, Buffalo, Mithun, Yak, Sheep, Goat, Pig, Camel, Horse, Ponies, Mule, Donkey, Dog, Rabbit and,
Elephant.
Other than livestock, headcount of poultry birds -- Fowl, Duck, Turkey, Geese, Quail, Gini Fowl, Ostrich and Emu -- will also be taken from each household/ household enterprises/ non-households/institution.
These species are recognised by ICAR-National Bureau of Animal Genetic Resources (NBAGR).
The livestock census is a crucial exercise that has been conducted every five years since 1919, serving as the backbone for policy formulation and the implementation of various programmes in the animal husbandry sector.
The census involves a comprehensive door-to-door survey that captures detailed data on domesticated animals and birds across the nation.
Till date, 20 livestock censuses have been conducted and the last census was held in 2019.
Notably, it will be the first census in the country in which data on livestock holding by pastoralists will be available independently.
This livestock census will also make available information on "gender of the person majorly involved in livestock rearing".
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Vidyasagar Central Co-operative Bank Limited, Midnapore, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Housing Finance’.
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹1.25 lakh (Rupees One Lakh Twenty Five Thousand only) on The Aurangabad District Central Co-operative Bank Ltd., Bihar (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI
on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of BR Act and section 25 of the Credit Information Companies (Regulation) Act, 2005.
