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DPIIT Partners With Stride Ventures To Accelerate Growth And Global Expansion of Indian Startups.

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry has partnered with Stride Ventures, a leading venture debt firm, to catalyze the growth of Indian startups and widen their global footprint.

Pertinently, this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support,

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DPIIT Partners With Stride Ventures To Accelerate Growth And Global Expansion of Indian Startups.

with strategic mentorship and market access.

Notably, Stride Ventures will give thrust focus on identifying startups with high growth potential, offering funding, market access, and policy support to Indian startups aiming to expand globally and global startups entering India.

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RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank.

Reserve Bank of India on January 3 said it has approved the voluntary merger of The National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra).

"The Scheme of Amalgamation has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.

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RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank.

The Scheme will come into force with effect from January 6, 2025," said RBI in a statement.

The branches of The National Co-operative Bank Ltd., Bangalore (Karnataka) will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025, said the banking regulator.

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RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank.

National Cooperative Bank Ltd. has a total of 13 branches— 12 in Bangalore and one in Mysore.

Mumbai-based Maratha Sahakari Bank (with 7 branches) and Sahebrao Deshmukh Sahakari Bank (with 11 branches) merged into Cosmos Bank in the financial year ended March 2024.

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SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens.

The State Bank of India (SBI), has announced the launch of two new deposit schemes for customers. The launch of two schemes has been announced via press release. The two new deposit schemes are: Har Ghar Lakhpati and SBI Patrons.

‘Har Ghar Lakhpati’ is a pre-calculated recurring deposit scheme designed to help customers to accumulate Rs 1 lakh or multiples thereof.

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SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens.

The new scheme simplifies the process of achieving financial goals, allowing customers to plan and save effectively. This product is also available to minors, encouraging early financial planning and savings habits.

SBI has also introduced ‘SBI Patrons,’ for select senior citizens.

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SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens.

This is a specialized fixed deposit scheme tailored for senior citizens aged 80 years and above. The new SBI scheme offers enhanced interest rates, recognizing the long-standing relationship many senior customers have with the bank. ‘SBI Patrons’ is available to both existing and new FD investors.

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SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens.

SBI has launched other deposit schemes offering higher FD rates to its customers. For instance, SBI We-care deposit scheme offers senior citizens an interest rate of 7.50% for tenor of 5 years to less than 10 years. Similarly, SBI 444 days FD scheme (Amrit Vrishti) offers senior citizens interest rate of 7.75%. The scheme is available till March 31, 2025.

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SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens.

SBI Amrit Kalash, an FD scheme with 400 days offers interest rate of 7.60% to senior citizens. The scheme is also available till March 31, 2025.

CS Setty- Chairman of State Bank of India.

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EPFO completes rollout of centralised system for pensioners.

The Employees’ Provident Fund Organisation (EPFO) has completed full-scale implementation of the new Centralised Pension Payments System (CPPS) to provide PF pensions under the Employees’ Pension Scheme (EPS). Pension worth Rs. 1,570 crore, for December 2024,was disbursed to more than 68 lakh pensioners in 122 pension disbursing regional offices, Union Labour Ministry said.

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EPFO completes rollout of centralised system for pensioners.

The pilot of the CPPS was completed in October 2024 in Karnal, Jammu and Srinagar regional offices. The second pilot was taken up in November 2024 in 24 regional offices. Announcing the successful rollout, Union Labour Minister Mansukh Mandaviya termed the move a historic milestone.

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EPFO completes rollout of centralised system for pensioners.

The EPFO has been maintaining that the CPPS is a paradigm shift from the existing pension disbursement system that is decentralised, with each zonal/ regional office of the EPFO maintaining separate agreements with only three to four banks.

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EPFO completes rollout of centralised system for pensioners.

In CPPS, not only the pensioner will be able to take pension from any bank, but also, there will be no need for pensioners to visit the bank for any verification at the time of commencement of pension and the pension shall be immediately credited upon release.

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EPFO completes rollout of centralised system for pensioners.

The CPPS system will also ensure disbursement of pension without any need for transfer of Pension Payment Orders from one office to another even when the pensioner moves from one location to another or changes his bank or branch.

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India's first ever glass sea bridge opened in Kanyakumari.

A stunning 77-meter-long and 10-metre wide glass bridge was inaugurated on December 30, 2024, by Tamil Nadu Chief Minister M K Stalin, connecting the iconic Vivekananda Rock Memorial and the towering 133-foot Thiruvalluvar statue off the coast of Kanyakumari.

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India's first ever glass sea bridge opened in Kanyakumari.

As the first of its kind in India, this groundbreaking structure offers visitors a mesmerizing experience of walking above the sea, with breathtaking panoramic views of both monuments and the surrounding ocean.

The project, valued at Rs 37 crore, was inaugurated on the 25th anniversary of the Thiruvalluvar statue's unveiling by the late Chief Minister M Karunanidhi,

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India's first ever glass sea bridge opened in Kanyakumari.

adding a historic layer to this achievement. The bridge not only enhances the visitor experience by eliminating the need for ferry rides but also allows tourists to immerse themselves in breathtaking seascapes while traversing this marvel of modern engineering.

Designed with cutting-edge technology, the bridge is built to endure the challenging coastal conditions,

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India's first ever glass sea bridge opened in Kanyakumari.

including high humidity, salt-laden air, and corrosion. The state government emphasized that the bowstring arch structure was specifically designed to withstand the region’s saline breeze and humidity.

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Decline in India’s rural poverty from 25.7% to 4.86% in last 12 years.

India’s rural poverty has declined significantly to 4.86 percent in the financial year 2023-24, compared to 25.7 percent in the financial year 2011-12. According to the State Bank of India’s research on the consumption expenditure survey, urban poverty has fallen to 4.09 percent from 13.7 percent over the last twelve years.

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Decline in India’s rural poverty from 25.7% to 4.86% in last 12 years.

The SBI’s research highlighted that the sharp decline in the rural poverty ratio is due to higher consumption growth in the lowest 0-5 percent decile, along with significant government support. The report emphasized that such support is crucial, as changes in food prices have a significant impact not only on food expenditures but also on overall spending patterns.

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Decline in India’s rural poverty from 25.7% to 4.86% in last 12 years.

The research further underscored the possibility of minor revisions to these figures once the 2021 census is completed and the new rural-urban population share is published. It also suggested that urban poverty could decline even further. At an aggregate level, the report projected that poverty rates in India could now be in the range of 4 per cent-4.5 percent,

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Decline in India’s rural poverty from 25.7% to 4.86% in last 12 years.

with minimal extreme poverty remaining.

The research also highlighted that the gap between rural and urban monthly per capita consumption expenditure (MPCE) has now narrowed to 69.7 percent, a sharp decline from 88.2 percent in 2009-10.

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World Braille Day | 4 January

World Braille Day, marked on January 4 every year, is observed across the globe to raise awareness about the importance of Braille as a means of communication for blind and partially sighted people.

In 2018, the United Nations General Assembly decided to proclaim January 4 as World Braille Day as a tribute to Louis Braille, the visionary behind the braille system.

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World Braille Day | 4 January

Braille has been described by the United Nations as a “tactile representation of alphabetic and numerical symbols using six dots to represent each letter and number, and even musical, mathematical and scientific symbols.”

Named after its inventor Louis Braille, it is used by both blind and partially sighted people worldwide to read books and periodicals.

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Faiz Ahmed Kidwai, 1996 batch IAS officer, appointed DGCA director general.

Faiz Ahmed Kidwai, a 1996-batch Indian Administrative Service (IAS) officer was appointed on Friday as the director general of the Directorate General of Civil Aviation (DGCA).

Kidwai, who is presently serving as additional secretary in the Department of Agriculture and Farmers Welfare, was appointed by the Appointments Committee of the Cabinet (ACC).

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Faiz Ahmed Kidwai, 1996 batch IAS officer, appointed DGCA director general.

Vikram Dev Dutt, a 1993-batch IAS officer who previously served as DG of the aviation regulator from February 28, 2023, stepped down on October 20, 2024 after his appointment as the coal secretary. Since then, Dinesh Chand Sharma, the senior most joint director general of DGCA, has held additional charge.

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IAS Ashutosh Agnihotri Appointed Chairman & Managing Director of Food Corporation of India.

Mr. Ashutosh Agnihotri, a 1999-batch IAS officer of the Assam-Meghalaya cadre, currently serving as Additional Secretary in the Department of Home, Ministry of Home Affairs, has been appointed as Chairman & Managing Director of the Food Corporation of India. He will hold the rank and pay of the Additional Secretary.

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IAS Ashutosh Agnihotri Appointed Chairman & Managing Director of Food Corporation of India.

This appointment underscores Mr. Agnihotri’s extensive experience and leadership in administrative roles. The Food Corporation of India (FCI) is a government-owned corporation responsible for the procurement, storage, and distribution of food grains across India. It plays a crucial role in ensuring food security and implementing government food policies.

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