The Ministry of Mines signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) on cooperation in Critical Minerals. The present collaboration would provide India with access to reliable data, analysis, and policy recommendations in the critical mineral sector, thereby enhancing its decision-making capabilities and ensuring resource management.
The International Energy Agency (IEA) is an international organization within the framework of the Organization for Economic Co-operation and Development (OECD).
The MoU with the IEA would facilitate capacity building and knowledge exchange between India and the IEA member states.
Collaboration on data collection, modelling, and analysis would enhance India's technical capabilities and institutional capacity in the critical mineral sector. Furthermore, the joint research projects, workshops, and training programs carried out under this MoU would help fostering collaboration and innovation in technology development, extraction techniques, etc.
The dream of a world-class capital for Andhra Pradesh is advancing with a major funding boost. The World Bank and Asian Development Bank have jointly agreed to grant a loan of Rs. 13,500 crore rupees for Amaravati development project.
The two-day long negotiations between executives of World Bank, Asian Development Bank, Union Finance Ministry and the Andhra Pradesh Capital Region Development Authority in New Delhi concluded on a positive note with the World Bank and ADB giving final clearance to grant a loan of Rs. 13,500 crores for development of green field capital city, Amaravati.
Titled, “the Amaravati Inclusive and Sustainable Capital City Development Program,” the program aims to build a safe and sustainable city with focus on inclusive socioeconomic growth and community development, building resilient service delivery, and strengthening governance and financing frameworks.
The Municipal corporations (MCs) in the country need comprehensive reforms to boost their own sources of revenue through tax reforms, rationalisation of user charges, and strengthening of collection mechanisms to plug leakages, according to a report released by the Reserve Bank of India (RBI).
The report titled ‘Own Sources of Revenue Generation in Municipal Corporations: Opportunities and Challenges’ analysed the budgetary data for 232 MCs, covering more than 90 percent of the total MCs in the country.
While the revenue account of the MCs has remained in surplus, their heavy reliance on transfers and grants from upper tiers of government continues.
The own revenue sources are not adequate for meeting the revenue expenditure of most of the MCs. This affects their functional and financial autonomy, it said.
The revenue receipts of MCs rose by 20.1 percent year on year (Y-o-Y) to Rs 1.7 trillion till March 2024 (FY24). In the preceding year, their revenues were Rs 1.42 trillion, and Rs 1.37 trillion in FY22.
The share of own resources in receipts stood at 61.9 percent (Budget estimates) in FY24, up from 59.7 percent (revised estimates) in FY23.
The report said the municipal revenues, which were hit during the COVID-19 pandemic in 2020-21, recovered in 2021-22 and 2022-23.
Despite significant responsibilities, the revenue streams of municipalities are limited and pale in comparison to those of State and Central governments. The revenues of MCs show concentration, with the top 10 MCs accounting for over 58 per cent of the total municipal revenue receipts in India, it said.
The revenue expenditure of MCs grew by 13.9 per cent to Rs 1.49 trillion in FY24 from Rs 1.31 trillion in FY23 and Rs 1.23 trillion in FY22.
The report said the property tax revenues of MCs would benefit from steps like the adoption of Geographic Information System (GIS) mapping, digital payment systems, dynamic valuation systems, and better monitoring to plug leakages.
India’s outward foreign direct investment (FDI) commitments rose to $3.24 billion in October 2024, up from $2.55 billion in October 2023.
However, sequentially, they declined from $3.77 billion in September 2024, according to data from the Reserve Bank of India (RBI).
Outbound FDI expressed as a financial commitment, comprises three components: equity, loans, and guarantees.
Equity commitments fell to $655.84 million in October 2024, compared with $993.35 million a year ago and $817.64 million recorded in September 2024.
Debt commitments rose sharply to $1.24 billion in October 2024, up from $248.4 million in October 2023, and were also higher than the $1.16 billion in September 2024. Guarantees for overseas units remained flat at $1.33 billion in October 2024, compared with $1.31 billion a year ago, but were down from $1.79 billion in September 2024, RBI data showed.
In Australia, the government has appointed the country’s first anti-slavery commissioner. Attorney-General Mark Dreyfus announced that Chris Evans, a former senator and human rights official, will serve as the inaugural Australian anti-slavery commissioner for a five-year term commencing in December.
The new commissioner role will strengthen the work undertaken across government, business, and society in Australia to prevent and respond to modern slavery, he added. Walk Free’s 2023 Global Slavery Index estimated that 41,000 people were living in modern slavery in Australia in 2021.
A report released by the anti-slavery commissioner of the state of New South Wales in September estimated that there were 16,400 people in modern slavery in the state.
The Professional Golf Tour of India (PGTI) announced the appointment of Amandeep Johl as its new Chief Executive Officer (CEO) from January 2025.
A respected name in Indian golf, Johl brings extensive experience to his new role.
The appointment comes alongside another recent significant leadership addition, with the legendary cricketer Kapil Dev assuming the role of PGTI President in June 2024. Johl replaces Uttam Singh Mundy, who has essayed a key role in the organisation since its inception.
In 2007 General Assembly adopted resolution 61/225 designating 14 November as World Diabetes Day. The document recognized “the urgent need to pursue multilateral efforts to promote and improve human health, and provide access to treatment and health-care education.”
Diabetes and well-being is the theme for World Diabetes Day 2024-26.
Diabetes is a chronic disease, which occurs when the pancreas does not produce enough insulin, or when the body cannot effectively use the insulin it produces. This leads to an increased concentration of glucose in the blood (hyperglycaemia).
Gestational diabetes is hyperglycaemia that is first recognized during pregnancy.
Wholesale price inflation rose to a 4-month high of 2.36 percent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, as per the government data released on Thursday.
The wholesale price index (WPI) based inflation was 1.84 percent in September 2024. It was (-) 0.26 percent in October, last year.
As per the data, inflation in food items shot up to 13.54 percent in October, as against 11.53 percent in September. This was led by 63.04 percent inflation in vegetables, as against 48.73 percent in September.
Inflation in potatoes and onions remained high at 78.73 percent and 39.25 percent, respectively, in October.
The month of October witnessed the second consecutive month of rise in WPI inflation print. WPI higher than October's level was recorded last in June 2024, when it was 3.43 percent.
The fuel and power category witnessed a deflation of 5.79 percent in October, against a deflation of 4.05 percent in September.
Galaxy Health Insurance has recently launched “Galaxy Promise”, a robust health insurance solution aimed at providing affordable and extensive coverage for Indian families. Available with sum insured options ranging from Rs 3 Lakhs to Rs 1 Crore, the product offers different plan levels, including the Signature, Elite, and Premier plans,
along with additional Enhanced Optional Covers to cater to a variety of health needs.
Designed with a customer-centric approach, Galaxy Promise addresses India’s escalating healthcare costs, which are influenced by factors such as inflation, advances in treatment, and the growing demand for specialized care.
The company, jointly promoted by the esteemed TVS family—represented by Shri. Venu Srinivasan, Chairman Emeritus of TVS Motor Company and Sundaram–Clayton Limited—and Shri. V. Jagannathan, the founder of Star Health & Allied Insurance Co. Ltd., received its IRDAI license earlier this year, marking its official entry into the insurance market.
The 18th PBD Convention will be organised from January 8 to January 10 next year in Bhubaneswar in collaboration with the Odisha government, and it will be inaugurated by Prime Minister Narendra Modi, the Ministry of External Affairs (MEA) said.
The official website of the 18th PBD Convention was jointly launched by External Affairs Minister S Jaishankar and Odisha Chief Minister Mohan Charan Majhi.
Minister of State for External Affairs Kirti Vardhan Singh also joined the launch ceremony. The Pravasi Bharatiya Divas (PBD) Convention is a flagship event of the government of India.
It provides an important platform to engage and connect with the Indian diaspora.
The 18th PBD Convention will be inaugurated by Modi. A youth edition of the convention will be held in partnership with the Ministry of Youth Affairs and Sports. President Droupadi Murmu will confer the Pravasi Bharatiya Samman Awards and preside over the valedictory session, the MEA said.
The launch of the PBD website marks the commencement of online registration for participation in the PBD Convention 2025. The website will also facilitate reservation of accommodation in Odisha and provide detailed information on PBD 2025.
The Ministry of Labour & Employment signed a Memorandum of Understanding (MoU) with TeamLease EdTech in New Delhi, marking a significant milestone in promoting employment opportunities across multiple sectors. The MoU was signed by Shri. Amit Nirmal, Deputy Director General (Employment), Ministry of Labour and Employment and Shri Jaideep Kewalramani.
This collaboration underscores a shared commitment to leveraging the National Career Service (NCS) portal to expand job opportunities for jobseekers of NCS.
The partnership with TeamLease EdTech will marks a major step in broadening employment prospects for jobseekers registered on NCS, empowering them to find roles that align with their career goals and fostering growth.
Under the MoU, more than 15,000 open jobs available with TeamLease EdTech on daily basis, will be shared with NCS portal through integration. The collaboration will also introduce work-linked degree programs, combining academic learning with practical experience to boost youth employability and align education with industry needs.
The National Career Service (NCS) portal, operational since July 2015, has been a transformative platform in the employment landscape. Managed by the Ministry of Labour & Employment, it provides a wide range of services, including job search, career counselling, vocational guidance, and skill development resources.
Secretary, Department of Science and Technology, Professor Abhay Karandikar launched Operation Dronagiri, a pilot project under National Geospatial Policy 2022 to demonstrate the potential applications of geospatial technologies and innovations in improving the quality of life of citizens and ease of doing business, at Foundation for Innovation and Technology Transfer,
Indian Institute of Technology Delhi, New Delhi on 13 November, 2024.
In the first phase, Operation Dronagiri will be implemented in the states of Uttar Pradesh, Haryana, Assam, Andhra Pradesh & Maharashtra, where pilot projects will be run and use cases will be demonstrated to showcase the potential applications of integration of geospatial data and technology in 3 sectors
--Agriculture, Livelihoods, Logistics and Transport. Several Government departments, Industry, Corporate, and Startups will be partnered with in the first phase. This will create the base for its Nationwide rollout.
Professor Karandikar emphasised that Operation Dronagiri gains a powerful backbone with support from Integrated Geospatial Data Sharing Interface (GDI), also unveiled, that will make spatial data accessible, bringing transformation similar to the process in which UPI has brought about financial inclusion.
The Integrated Geospatial Data Sharing Interface (GDI) enables seamless data sharing, access, and analysis for urban planning, environmental monitoring, disaster management, and more.
The Anusandhan National Research Foundation (ANRF) has announced the launch of the Partnerships for Accelerated Innovation and Research (PAIR) Program.
The operationalisation of the ANRF was initiated with the First Meeting of the Governing Board (GB) on September 10, 2024, which was chaired by the Hon’ble Prime Minister as the President of the Governing Board (GB).
The ANRF signals a new beginning for the R&D ecosystem of the country. In line with this, the PAIR programme would bring major transformation in Indian Universities.
The groundbreaking PAIR initiative aligned with the objectives set by the National Education Policy (NEP) 2020, is designed to cultivate research excellence across Indian universities,
particularly central and state public universities with limited research capabilities, by fostering collaborations with top-tier institutions.
In the first phase, the Hub institutions would include institutions within the top 25 NIRF overall ranking as well as Institutions of National Importance within top 50 NIRF overall ranking.
The spoke institutions will include, Central and State Public Universities and select NITs and IIITs. Each PAIR network would consist of one hub and up to seven spoke institutions. Only one proposal per hub institution is allowed, with a mandatory involvement of multi-departmental faculty teams from spoke institutions.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 6.34 lakh on The Jaynagar Mozilpur People’s Co-operative Bank Ltd., West Bengal (the bank) for non-compliance with certain directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making a contribution to the Micro and Small Enterprises.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1.00 lakh (Rupees One Lakh only) on The Vijapur Nagarik Sahakari Bank Ltd., Vijapur, Dist. Mehsana, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Know Your Customer’.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 2.50 lakh on The Nawanagar Co-operative Bank Ltd., Jamnagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are interested’ and ‘Financial Statements - Presentation and Disclosures’.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1.00 lakh on Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on contributing to the Micro and Small Enterprises (MSE) Refinance Fund.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 80,000 (Rupees Eighty Thousand only) on The Gauhati Co-operative Urban Bank Limited (the bank) for non-compliance with the certain directions issued by RBI on ‘Know Your Customer (KYC)’ and ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’.
