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Defence Secretary Shri Rajesh Kumar Singh launches Rashtraparv Website & Mobile App on Good Governance Day.

Defence Secretary Shri Rajesh Kumar Singh launched the Rashtraparv Website along with its Mobile App on Dec 25, 2024 on the occasion of ‘Good Governance Day’ commemorating the birth anniversary of former Prime Minister Shri Atal Bihari Vajpayee.

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Defence Secretary Shri Rajesh Kumar Singh launches Rashtraparv Website & Mobile App on Good Governance Day.

The website will facilitate access to information related to organization of national events such as Republic Day, Beating Retreat Ceremony, Independence Day etc., live streaming, purchase of tickets, provide information related to seating arrangements & route-maps of events etc.

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Defence Secretary Shri Rajesh Kumar Singh launches Rashtraparv Website & Mobile App on Good Governance Day.

The website and mobile application have been a result of consultative process adopted by Ministry of Defence. The states had suggested for a portal for management of tableaux designs data. Similarly, viewers of Republic Day event in the feedback had suggested to have information regarding events, parade, tableaux with them.

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Equity raised through IPOs will cross Rs 2 trillion in 2025: Report.

India has emerged as the global leader in Initial Public Offerings (IPOs), hosting twice as many IPOs as the United States and 2.5 times more than Europe, shows data analysed by Pantomath Group. In the first 11 months of 2024 alone, 76 companies raised Rs 1.3 trillion. Pantomath Group’s report now predicts Rs 2 trillion+ record-breaking IPO fundraising in 2025.

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Equity raised through IPOs will cross Rs 2 trillion in 2025: Report.

India achieved a historic milestone by securing the top position globally in terms of IPO volume for the first time, surpassing both the US and Europe, with nearly double the number of IPOs listed compared to the US and two-and-a-half times more than Europe. In contrast, the US reclaimed the lead in IPO proceeds for the first time since the peak in 2021,

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Equity raised through IPOs will cross Rs 2 trillion in 2025: Report.

reinforcing its status as the most vibrant and appealing market for global investors," noted the report.

Meanwhile, tighter regulations in mainland China resulted in the weakest IPO performance in a decade in that region. The Technology, Media and Telecommunications (TMT), industrials, and consumer sectors were the leading drivers of global IPO activity,

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Equity raised through IPOs will cross Rs 2 trillion in 2025: Report.

collectively representing about 60% of the total IPOs by both number and proceeds.

The table above shows that India leads globally in IPO activity, with 332 IPOs, significantly outpacing the US at 205 and China at 130. Western Europe and Japan trail far behind with 64 and 80 IPOs, respectively.

This suggests that India is experiencing a booming IPO market.

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Equity raised through IPOs will cross Rs 2 trillion in 2025: Report.

However, despite having fewer IPOs, the US dominates in total IPO value at $35.6 billion, indicating larger IPO sizes on average. India follows at $22.7 billion, reflecting a vibrant but smaller-scale IPO market. Western Europe and China have comparable IPO values at $17.7 billion and $17.0 billion, while Japan lags significantly at just $2.3 billion.

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Banks' average daily reserves fall after FIT framework: RBI report.

The average daily reserves maintained by banks have come down, resulting in freeing up incremental resources that may be deployed for productive purposes after the Reserve Bank of India (RBI) adopted a flexible inflation targeting (FIT) framework in 2016 and introduced automatic sweep in sweep out (ASISO) facility, according to report by RBI staffers.

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Banks' average daily reserves fall after FIT framework: RBI report.

Additionally, the volatility in daily reserves maintenance as a percentage of requirement is significantly lower under the post-ASISO regime, enabling banks to effectively manage their daily reserves, said the report.

The RBI introduced the ASISO facility in August 2020 to offer greater flexibility in managing day-end cash reserve ratio (CRR) balances.

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Banks' average daily reserves fall after FIT framework: RBI report.

Under this facility, banks are able to pre-set a specific amount (or range) that they wish to maintain at the end of the day. Any shortfall or excess balances maintained by banks would automatically trigger marginal standing facility (MSF) or standing deposit facility (SDF) /reverse repo bids under the ASISO facility.

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Banks' average daily reserves fall after FIT framework: RBI report.

In India, reserves by banks need to be maintained on an average basis over a fortnight. However, a certain per cent of the CRR requirement needs to be maintained on any given day during the fortnight. This has helped banks in their day-to-day liquidity management to meet unforeseen flows while avoiding undue volatility in demand for funds.

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Banks' average daily reserves fall after FIT framework: RBI report.

Daily maintenance of CRR depends on the business considerations of banks on the evolving interest rate scenario. Moreover, at the systemic level, if the liquidity is in surplus during the first week of the reserve maintenance period, it could take care of the average requirement for the entire fortnight if the liquidity is deficit in the second week, the report said.

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Banks' average daily reserves fall after FIT framework: RBI report.

Additionally, volatility in daily excess reserves maintained by scheduled banks as a proportion of net demand and time liabilities (NDTL) has fallen during the FIT period mainly due to the refinements in liquidity management and operating procedure of the monetary policy, it said.

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Banks' average daily reserves fall after FIT framework: RBI report.

In the pre-FIT period, banks were maintaining reserves in the range of 85 to 120 percent of requirement along with a positive skew. During the FIT period, range of daily reserve balances was reduced (in the range of 95 to 115 percent) with some outliers.

According to the report, in the FIT period, more banks were maintaining below 100 percent on some days of the fortnight.

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Banks' average daily reserves fall after FIT framework: RBI report.

With the improvement in the liquidity management framework during the FIT period, banks choose an optimum strategy of holding reserves based on their intraday cash flows and money market participation — enabling them to be more flexible in managing daily reserve requirements, the report said.

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President Murmu appoints new governors; Ajay Kumar Bhalla gets Manipur, Kerala's Arif Mohammed Khan picked for Bihar.

President of India, Droupadi Murmu, has appointed new governors for several states including Kerala and Manipur.

Former Union home secretary Ajay Kumar Bhalla has been appointed as Manipur governor.

Additionally, Kerala's governor Arif Mohammed Khan has been granted another term after a full tenure in Kerala. He has now been appointed to work for Bihar.

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President Murmu appoints new governors; Ajay Kumar Bhalla gets Manipur, Kerala's Arif Mohammed Khan picked for Bihar.

Moreover, the President accepted resignation of Raghubar Das as Governor of Odisha. In place of Das, Mizoram's Dr Hari Babu Kambhampat has been granted responsibility of the state.

(i) Dr Hari Babu Kambhampati, Governor of Mizoram appointed as Governor of Odisha.

(ii) General (Dr) Vijay Kumar Singh, PVSM, AVSM, YSM (Retd.) appointed as Governor of Mizoram.

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President Murmu appoints new governors; Ajay Kumar Bhalla gets Manipur, Kerala's Arif Mohammed Khan picked for Bihar.

(iii) Rajendra Vishwanath Arlekar, Governor of Bihar appointed as Governor of Kerala.

(iv) Arif Mohammed Khan, Governor of Kerala appointed as Governor of Bihar.

(v) Ajay Kumar Bhalla appointed as Governor of Manipur.

As per Rashtrapati Bhavan's statement, the appointments of the governors will take effect from the dates they will assume charge of their respective offices.

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J&K Bank appoints Amitava Chatterjee as its new MD.

J&K Bank announced the appointment of Amitava Chatterjee, currently Deputy Managing Director of State Bank of India (SBI), as its new managing director (MD) and CEO. Chatterjee will replace Baldev Prakash, whose term comes to an end on December 29.

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J&K Bank appoints Amitava Chatterjee as its new MD.

The Board of Directors in their meeting held on December 25, 2024, have appointed Amitava Chatterjee as Managing Director and Chief Executive Officer of the bank for a period of three years to be effective from December 30, 2024, J&K Bank said in a regulatory filing.

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J&K Bank appoints Amitava Chatterjee as its new MD.

Chatterjee, in his banking career spanning over more than three decades in diverse geographical locations and strategic positions, also served as MD and CEO of SBI CAPS.

His diverse experience includes heading the SBI's operation as CGM New Delhi, circle and Jaipur Circle with high-end clientele like PSUs, NBFCs, and DISCOMs.

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Centre appoints Arunish Chawla as new Revenue Secretary in FinMin.

The Appointments Committee of the Cabinet on Wednesday appointed secretary in the Department of Pharmaceuticals Arunish Chawla as the next revenue secretary.

A 1992-batch Indian Administrative Service (IAS) officer from the Bihar cadre, Chawla will take over from economic affairs secretary Ajay Seth.

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Centre appoints Arunish Chawla as new Revenue Secretary in FinMin.

Seth is holding additional charge of revenue secretary following Sanjay Malhotra’s appointment as Reserve Bank of India (RBI) governor.

Chawla has been serving as secretary in the Department of Pharmaceuticals within the Ministry of Chemicals and Fertilisers since November 1, 2023.

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Centre appoints Arunish Chawla as new Revenue Secretary in FinMin.

Also, the appointments committee appointed textiles secretary Rachna Shah as new secretary in the Department of Personnel and Training.

Neelam Shami Rao, currently secretary in the National Commission of Minorities, is the new textiles secretary.

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Centre appoints Arunish Chawla as new Revenue Secretary in FinMin.

Amit Agrawal, chief executive officer (CEO) at the Unique Identification Authority of India (UIDAI), will become secretary in the Department of Pharmaceuticals. Vineet Joshi has been appointed secretary in the Department of Higher Education.

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Adani's Mundra port welcomes its first-ever LNG-Powered Vessel.

Adani Ports and Special Economic Zone (APSEZ) Mundra welcomed CMA CGM Fort Diamant, the first-ever Liquefied Natural Gas (LNG) powered container vessel to dock at the port's Container Terminal-CT4, the APSEZ said.

This vessel, measuring 268 meters in length and 43 meters in beam, is the third in a series of LNG-powered ships with a capacity of 7,000 containers.

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Adani's Mundra port welcomes its first-ever LNG-Powered Vessel.

Operating on the CIMEX2K/AS-1 service, it connects the Indian subcontinent with China, further enhancing global trade routes.

Adani's, Mundra port is India's largest port and a flagship of APSEZ, and is equipped with state-of-the-art infrastructure to handle vessels of up to 21 meters in depth, supported by robust connectivity through highways, rail corridors, and,

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Adani's Mundra port welcomes its first-ever LNG-Powered Vessel.

the Dedicated Freight Corridor (DFC).

The adoption of LNG as a fuel source reflects the shipping industry's ongoing commitment to reducing carbon emissions. LNG-powered ships offer a cleaner, greener alternative to traditional marine fuels, contributing to the global transition towards sustainable maritime practices.

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Adani's Mundra port welcomes its first-ever LNG-Powered Vessel.

Adani Ports and Special Economic Zone Limited (APSEZ) is the largest commercial ports operator in India accounting for nearly one-fourth of the cargo movement in the country. It has presence across 13 domestic ports in seven maritime states of Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

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Adani's Mundra port welcomes its first-ever LNG-Powered Vessel.

Through its subsidiary Adani Logistics Ltd., APSEZ also operates three logistics parks located at Patli in Haryana, Kila-Raipur in Punjab and Kishangarh in Rajasthan.

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Akums Group inks pact worth 200 million euros for European market.

Contract development and manufacturing organisation, Akums Group said it has entered into a strategic long-term agreement at an estimated value of 200 million euros (Rs 1,760 crore) with an undisclosed global pharma firm for manufacturing and supply of formulations in the European market.

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Akums Group inks pact worth 200 million euros for European market.

Under this collaboration, Akums Group will produce and supply multiple Stock keeping units of oral liquid formulations, which the partner company will market across various European countries, the company said in a statement.

The total value of this agreement is estimated at 200 million euros (Rs 1,760 crore).

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Akums Group inks pact worth 200 million euros for European market.

As part of the agreement, Akums Group will receive an upfront payment of 100 million euros (Rs 880 crore) for product development and site approval from European authorities," it added.

The commercial supply of these products is expected to begin in 2027 and will continue to be supplied till 2032, the company said.

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Good Governance Day | 25 December

Good Governance Day, observed on December 25 each year in honour of former Prime Minister Shri Atal Bihari Vajpayee’s birth anniversary. The day reminds us that governance is not just about administration, but about making life better for every citizen. Shri Vajpayee’s leadership exemplified the principles of good governance, which focused on accountability, transparency.

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Good Governance Day | 25 December

The government celebrates Good Governance Week (Sushasan Saptah) every year from December 19 to 25, reinforcing its commitment to transparent, effective, and accountable governance. The week-long celebrations aim to spread the concept of good governance from districts to villages, ensuring that governance is transparent, effective, and accountable.

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RBI imposes monetary penalty on The Bharat Co-operative Bank Ltd., Bengaluru.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024,

imposed a monetary penalty of Rs. 3.00 lakh (Rupees Three Lakh only) on The Bharat

Co-operative Bank Ltd., Bengaluru (the bank) for non-compliance with specific

directions issued by RBI under ‘Supervisory Action Framework (SAF)’.

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RBI imposes monetary penalty on The Bharat Co-operative Bank Ltd., Bengaluru.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of Rs. 1.00 lakh (Rupees One Lakh only) on Swami Vivekanand Sahakari Bank Niyamit, Nidagundi, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Know Your Customer (KYC)’.

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RBI imposes monetary penalty on The Bharat Co-operative Bank Ltd., Bengaluru.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of Rs. 1.00 lakh (Rupees One Lakh only) on Sri Basaveshwara Pattana Sahakara Bank Niyamit, Sindgi, Karnataka (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’.

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RBI imposes monetary penalty on The Bharat Co-operative Bank Ltd., Bengaluru.

The Reserve Bank of India (RBI) has, by an order dated December 18, 2024, imposed a monetary penalty of Rs. 50,000/- (Rupees Fifty Thousand only) on Manjra Mahila Urban Co-operative Bank Limited, Bidar, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’.

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Martina Devi wins silver in women’s junior +87kg at Asian Junior Weightlifting Championships.

In Weightlifting, Martina Devi clinched a silver medal in the women’s junior +87kg category at the Asian Junior Championships in Doha yesterday. The 18-year-old from Manipur lifted a total of 225 kg to finish second. She also won a silver medal for her clean and jerk effort and a bronze for her snatch.

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Martina Devi wins silver in women’s junior +87kg at Asian Junior Weightlifting Championships.

Medals are awarded separately for snatch, clean and jerk, and total lift in continental, World Cups and World Championships.

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PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme.

Prime Minister Shri Narendra Modi will distribute over 50 lakh property cards under SVAMITVA Scheme to property owners in over 46,000 villages in 200 districts across 10 States and 2 Union territories on 27th December.

SVAMITVA scheme was launched by Prime Minister with a vision to enhance the economic progress of rural India by providing ‘Record of Rights’,

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PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme.

to households possessing houses in inhabited areas in villages through the latest surveying drone technology.

The scheme also helps facilitate monetization of properties and enabling institutional credit through bank loans; reducing property-related disputes; facilitating better assessment of properties and property tax in rural areas and,

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PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme.

enabling comprehensive village-level planning.

Drone survey has been completed in over 3.1 lakh villages, which covers 92% of the targeted villages. So far, around 2.2 crore property cards have been prepared for nearly 1.5 lakh villages.

The scheme has reached full saturation in Tripura, Goa, Uttarakhand and Haryana.

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PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme.

Drone survey has been completed in the states of Madhya Pradesh, Uttar Pradesh, and Chhattisgarh and also in several Union Territories.

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RINL wins Gold award at the AP State Energy Conservation Award-2024 competitions.

RINL, the corporate entity of Visakhapatnam Steel Plant has won the prestigious “Gold Award” in the State Energy Conservation Award 2024 competitions (conducted by the State Energy Conservation Mission of Andhra Pradesh) for its significant initiatives towards Energy Conservation in Iron & Steel category.

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RINL wins Gold award at the AP State Energy Conservation Award-2024 competitions.

This prestigious Gold award was bestowed on RINL for implementing Energy conservation measures during the last 3 years, harnessing waste energy.

The Gold Award was received on behalf of RINL by Sri Uttam Brahma, GM (Energy, Environment & Utilities) RINL and Sri VVVS Pulla Reddy, DGM (Energy Management Department) RINL.

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