Nurse Maria Victoria Juan from Philippines, a Consultant at Philippines Army Health Services and Colonel, Reserve Force of the Armed Forces of the Philippines, has been announced as the winner of the Aster Guardians Global Nursing Award 2024 and awarded with USD 250,000 at a prestigious award ceremony held in Bengaluru, India.
Launched in 2021, the Aster Guardians Global Nursing Award recognizes the critical role of nurses in healthcare. This year, over 78,000 applications were received from 202 countries, marking a 50% increase from 2023.
About Aster DM Healthcare:
Founded in 1987 by Dr. Azad Moopen, Aster DM Healthcare is a leading integrated healthcare provider, across seven countries.
China has opened its first overseas atmospheric monitoring station in Antarctica as it continues to firm up its presence in the icy and resource-rich southernmost continent by building research stations. Located in the Larsemann Hills in East Antarctica, the Zhongshan National Atmospheric Background Station began operating,
according to the China Meteorological Administration (CMA).
The station will conduct "continuous and long-term operational observations of concentration changes in Antarctic atmospheric components, and provide a faithful representation of the average state of atmospheric composition and related characteristics in the region.
It is China's ninth operational atmospheric monitoring station and its first overseas. In addition, 10 new atmospheric monitoring stations are currently being tested in China.
Currently, there are 70 permanent research stations scattered across Antarctica, representing 29 countries from every continent, according to reports.
India has two active research stations - Maitri and Bharti in Antarctica. The first research station, Dakshin Gangotri, set up in 1983,had to be abandoned after it sank in the snow.
The US has six stations while Australia has three.
China signed the Antarctic Treaty in 1983. The treaty designates the continent as natural reserve and prohibits commercial resource extraction.
The Mahila Samman Savings Certificate Scheme (MSSC) was launched on 31.03.2023 to commemorate the ‘Azadi ka Amrit Mahotsav’ exclusively for the women and minor girls, and so far, 43,30,121 accounts have been opened under it till 31.10.2024.
The scheme was launched by the Government to promote financial independence of the woman of the country,
by allowing attractive rate of interest and to also help in achieving objectives of financial inclusion as set by Government of India. The account under this MSSC shall be opened by a woman for herself, or by the guardian on behalf of a minor girl, on or before 31st March, 2025.
Some of the salient features of the schemes include:
The account may be opened with a minimum deposit of Rs. 1000/- and maximum deposit of Rs. 2 Lakhs for a tenure of two years only.
The interest rate for MSSC is 7.5% p.a. which is compounded quarterly and credited to the account.
The facility of partial withdrawal and premature closure on compassionate grounds are also available under this Scheme.
Mahindra Finance, a leading non-banking financial company (NBFC), has entered into a strategic corporate agency agreement with Magma HDI General Insurance Company, a rising name in India’s general insurance sector. This collaboration aims to provide a diverse range of tailor-made insurance solutions to Mahindra Finance customers, spanning motor and non-motor segments.
The partnership was formally signed in the presence of Raul Rebello, Managing Director & CEO of Mahindra Finance, and Rajive Kumaraswami, Managing Director & CEO of Magma HDI General Insurance, along with other senior officials.
By leveraging Mahindra Finance’s extensive rural reach and Magma HDI’s insurance expertise,the partnership aims to enhance customer experience etc.
India has signed the Supply Chain Resilience Agreement (Pillar-II) in November 2023 under the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14 member plurilateral grouping in the region. The Agreement seeks to strengthen supply chain crucial for national security and economic stability. The Agreement came into force on February 24, 2024.
Under the Agreement, a Supply Chain Council (SCC) has been set up with the US as Chair and India as Vice-Chair.
IPEF partners represent approximately 40 percent of the global GDP, and 28 percent of global goods and services trade, making it crucial for international trade dynamics.
The Agreement seeks to strengthen economic, commercial, and trade relationships among enterprises in the economies of the Parties and improve supply chain resilience in critical sectors. Article 6.10 of the Agreement also encourages private sector engagement to improve the resilience, efficiency, productivity, sustainability inclusivity etc. of IPEF supply chains.
Supply Chain Council formed under Supply Chain Resilience Agreement, with USA as Chair and India as Vice-Chair.
Further, two Memorandum of Understanding (MoUs) have also been signed by Department of Commerce with the USA in last two years: one in the sector of semiconductors and other in the sector of critical minerals both of which are a strong step towards securing India.
As a part of the Government of India’s Action Plan for Viksit Bharat@2047, the Department of Chemicals and Petrochemicals launched the first training programme on “Chemical and Petrochemical Industrial Safety” at Ahmedabad, Gujarat.
The first two-day residential training programme was conducted from 28th to 29th November 2024 at Central Institute of Petrochemical Engineering & Technology (CIPET): Institute of Petrochemicals Technology (IPT) Ahmedabad, focusing on Major Accident Hazard (MAH) units in the Chemical and Petrochemical Sector.
This program is a part of a series of training programmes that are going to be organised by the Department on Industrial Chemical Safety with the objective of safety and security for all the Major Accident Hazard Units identified across the country. The number of such units is 2,393 at present.
The First programme organised at Ahmedabad witnessed participation of 100 representatives across 62 chemical industries. A total of 13 specialized lectures on chemicals and petrochemicals industrial safety delivered by the eminent experts from industries as well as distinguished speakers from academic institutions such as IITs & NITs over the course of the two days program.
Bharti Airtel, India’s second-largest telecom operator, has signed a multi-year, multi-billion-dollar agreement with Swedish telecom equipment provider Ericsson to extend its 4G and 5G contracts, the company said in a press statement.
As per the new contract, Ericsson will deploy centralised RAN and Open RAN-ready solutions for network transformation which will help customers with wider coverage and enhanced capacity on the network. Ericsson will also undertake the software upgradation of its currently deployed 4G radios thereby enhancing the customer experience.
This move aligns with Airtel's strategy to bolster its 4G and 5G infrastructure and upgrade feature phone users in critical regions, amid fierce competition from Reliance Jio and Vodafone Idea. Vodafone Idea is expanding its 4G services and preparing for a 5G rollout by March.
On December 4, the Directorate of Revenue Intelligence (DRI), India’s premier investigative agency tasked with safeguarding the nation’s economic interests, celebrates its 67th year of establishment. Although the genesis of DRI can be traced to 1953 with the formation of the Central Revenue Intelligence Board, DRI was carved out as a specialised agency in 1957,
with the primary objective of curbing the smuggling of goods, particularly contraband like gold, drugs, and other prohibited items.
Operating under the Department of Revenue (DoR) until June 1970, DRI was placed under the Ministry of Home Affairs for a brief period before being assigned to the Cabinet Secretariat.
Kotak Mahindra Asset Management Company (AMC) is set to enter the private credit market with the launch of a fund, which aims to raise between Rs 1,500 crore and Rs 2,000 crore, next month.
The fund will cater to the capital needs of unlisted companies by providing debt funds for acquisition financing and capital expansion.
Private credit funds provide debt financing to companies, offering an alternative to traditional bank funding sources. Companies with lower credit ratings often seek these funds that require more flexible repayment terms.
With the launch of its private credit fund, Kotak AMC will join other fund houses that have already entered this space, amid growing investor interest.
A vast majority of income tax filers want simplified ITRs for individuals, easier way for computing incentives and deductions, and simplification of TDS framework for 'one rate one section', a Deloitte survey said.
Deloitte's Income-Tax Policy Survey also suggested doing away with the requirement of issuing Form 16A as the TDS information is already reported and,
available in the Form 26AS and AIS of the recipient.
The survey also suggested limiting the number of sections with regard to withholding tax, classifying payments into two-to-three distinct and non-overlapping categories, and ensuring that each section has only one rate,
which will significantly reduce the burden of compliance without any major loss in tax collections from a tax administrative perspective.
For example, 1 per cent TDS on tangible goods, 2 per cent on services, 0.1 per cent on e-commerce transactions, and 10 per cent on other transactions such as dividend and interest.
The Income Tax Policy Survey involves an online survey of over 320 industry professionals in organisations across multiple industries, including C-suite, directors and presidents from the finance and tax functions; general managers (finance/tax), and vice-presidents (finance/tax); as well as finance and taxation managers.
A vast majority of respondents (76 per cent) rooted for simplification in computing incentives and deductions, reflecting taxpayers' concern in understanding and computing eligible incentives/deductions.
Deloitte also suggested that as a simpler income tax law is in the works, the government should avoid the use of provisos and instead,
the text could be integrated into simple sentences so that the reader can understand its logical function better.
The effectiveness of the tax law can be significantly enhanced if the words used are meaningful, well thought out, and well organised.
For example, several related sections, perhaps located in different parts of the statute, could be combined into one chapter.
Indian Society of Aerospace Medicine (ISAM) is organising its 63rd annual conference at Institute of Aerospace Medicine (IAM), Bengaluru, from 05 to 07 December 2024. The Institute deals with military and civil aerospace medicine including the human aspects of space flight programme of the country.
Established in the year 1952, it is the only registered society dedicated to promote the knowledge and practice of aerospace medicine in India.
With an aim to advance research, foster knowledge exchange and seek solution to aeromedical challenges, ISAM has been conducting an annual scientific conference since the year 1954.
The current conference is themed 'Collaborate for Research' which highlights a forward-thinking approach to foster partnerships and innovations within the fields of aviation and space medicine. The collaboration emphasises the vital need for interdisciplinary co-operation and collective problem solving, to drive meaningful research and development in the field of aerospace.
The conference will be inaugurated by Air Marshal SP Dharkar, Vice Chief of the Air Staff, on 05 December 2024. The conference will host a mix of in-person and virtual delegates, drawing approximately 300 attendees from across the country and around the globe.
On 19 December 2019, the UN General Assembly adopted resolution 74/245, which designated 4 December as the International Day of Banks in recognition of the significant potential of multilateral development banks and other international development banks in financing sustainable development and providing know-how; and,
also in recognition of the vital role of the banking systems in Member States in contributing to the improvement of the standard of living.
In September 2015, the General Assembly adopted the comprehensive, far-reaching and people-centred set of universal and transformative Sustainable Development Goals and targets.
India's total external debt has increased by $ 31 billion to $ 646.79 billion in 2023, according to World Bank International Debt Report.
The report further said that interest payment increased from $ 15.08 billion in 2022 to $ 22.54 billion in 2023.
While the long-term debt stocks have risen 7 per cent to $ 498 billion in 2023, short-term debt stocks declined marginally to $ 126.32 billion in 2023.
According to the report, external debt stock as percentage of exports was 80 per cent, while debt servicing was 10 per cent of exports in 2023.
The World Bank International Debt Report, 2024, further said that net debt inflows during the year worked out to be $ 33.42 billion, while the net equity inflows was higher at $ 46.94 billion in 2023.
RBI's regulatory initiatives and asset quality trends will push non-bank lenders to slow down their growth in asset under management (AUM) to 15-17 per cent in the current fiscal and next, domestic rating agency Crisil said on Monday. The sector had achieved a handsome growth of 23 per cent in the AUM in FY24, the agency said.
adding that even with the slower growth, the AUM expansion will be higher than the 14 per cent of the last decade.
Entities will opt for "sustainable growth" because of the regulatory environment and asset quality trends, the rating agency said, adding that the present situation will lead to recalibration in strategies.
RBI had in November last year increased the risk weights on banks' lending to NBFCs along with the lending to unsecured loans, where NBFCs are very active. Additionally, the micro loan segment is also showing signs of stress on asset quality lately.
Crisil's managing director- Subodh Rai
