The Reserve Bank of India will shortly issue Rs. 50 denomination bank notes in Mahatma Gandhi (new) Series bearing the signature of newly appointed Governor Sanjay Malhotra.
The design of these notes is similar in all respects to Rs. 50 banknotes in Mahatma Gandhi (new) Series.
All banknotes in the denomination of Rs. 50 issued by the Reserve Bank in the past will continue to be legal tender,” the RBI said.
Malhotra took over as the new RBI chief on December 9, 2024.
A Memorandum of Understanding (MoU) was signed between Apparel Training & Design Centre (ATDC), Gurugram, and South Eastern Coalfields Limited (SECL), a Bilaspur based CIL Subsidiary under the jurisdiction of Ministry of Coal, for a vocational training program aimed at uplifting under privileged youth from economically weaker sections of society.
The program, which is part of SECL's Corporate Social Responsibility (CSR) initiatives, is set to benefit 400 candidates, providing them with the skills needed for self-employment. A total of Rs. 3.12 Crore will be allocated for the initiative. Under this agreement, ATDC will establish training centers for 300 candidates in a non-residential self-employed tailor program,
across SECL Bishrampur, Sohagpur and Korba areas. Additionally, 100 candidates will undergo a fully residential program at the ATDC training center in Chhindwada, Madhya Pradesh, which will include free boarding and lodging. These candidates will be selected from within a 25-kilometer radius of SECL's establishments.
Small Industries Development Bank of India (SIDBI) and the French development agency Agence Française de Développement (AFD) have entered into a $100 million Credit Facility Agreement (CFA) to promote green finance solutions for India’s micro, small, and medium enterprises (MSMEs).
This strategic partnership aims to drive sustainable growth and support India’s transition to a low-carbon economy.
Under the agreement, AFD will provide a $100 million credit line to SIDBI, enabling the financial institution to expand access to affordable financing for MSMEs investing in energy-efficient technologies, renewable energy solutions,
and climate-friendly business practices. This initiative aligns with both organisations’ shared commitment to fostering sustainable economic development and enhancing climate resilience in emerging markets.
Shri Manoj Mittal, Chairman and Managing Director, SIDBI.
Mrs. Lise Breuil, AFD Country Director, India.
The Reserve Bank of India (RBI) has approved small finance banks (SFBs) to offer credit lines on the Unified Payments Interface (UPI), in accordance with the regulator’s announcement made during the December 2024 monetary policy committee meeting.
This product empowers individuals and small businesses to obtain pre-sanctioned credit lines from banks,
which can be utilised immediately for transactions through UPI. It facilitates availability and frictionless usage of credit lines, overdrafts and retail loans.
“Banks may, as per their Board-approved policy, stipulate terms and conditions of use of such credit lines. The terms may include, among other items, credit limit, period of credit, rate of interest,” the RBI said.
Bangladesh's Shohely Akhter has become the first woman cricketer to be banned by the International Cricket Council (ICC) on corruption charges. The ICC found her guilty of attempting to fix matches during the 2023 Women's T20 World Cup. The 36-year-old off-spinner received a five-year ban.
She had played two One Day Internationals (ODIs) and 13 T20 Internationals (T20Is) for Bangladesh before last appearing for the national team in 2022.
Shohely admitted to breaching five provisions of the ICC Anti-Corruption Code. The charges were linked to corrupt approaches made during the tournament in South Africa.
Shohely admitted to violating Articles 2.1.1, 2.1.3, 2.1.4, 2.4.4, and 2.4.7 of the ICC’s Anti-Corruption Code. She accepted a five-year ban, which will take effect from February 10, 2025. The ICC continues its efforts to enforce strict anti-corruption measures in cricket.
Design and technology service provider Tata Elxsi has partnered with drone maker Garuda Aerospace for setting up a design, engineering, and certification centre to develop indigenous drone technologies. The technology to developed at the proposed centre for which the two companies have signed a memorandum of understanding at the ongoing defence and aerospace show,
Aero India 2025, in Bengaluru will specifically have Indian defence applications, along with agriculture, and smart cities, supporting the 'Make in India' initiative, Tata Elxsi said.
Tata Elxsi and Garuda Aerospace are showcasing prototypes, designs, and operational UAVs at Aero India 2025.
In addition, a demonstration of indigenised UAV components highlights India's advancements in autonomous UAV technologies.
Under the collaboration, Tata Elxsi will lead the design, development, testing, and certification of UAV subsystems, leveraging its expertise in avionics, miniaturisation, ground control systems, secured communication, and energy optimisation.
The Securities and Exchange Board of India (Sebi) has introduced a digital platform that assists investors in tracking inactive and unclaimed mutual fund folios. Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) will help with investments that may have been overlooked, lost, or left unclaimed due to outdated know your customer (KYC) details or,
the demise of the original investor, according to Sebi.
Key features of MITRA-
MITRA, which has been developed by Registrar and Transfer Agents (RTAs), aims to empower investors by:
Helping them identify overlooked investments or those for which there are legal claimants.
Encouraging investors to complete KYC as per current norms.
Reducing the number of unclaimed mutual fund folios.
Promoting financial transparency and security.
Mitigating risks related to fraud in inactive folios.
MITRA will be jointly hosted by two qualified RTAs (QRTAs) – Computer Age Management Services Limited (CAMS) and KFIN Technologies Limited – who will act as agents of asset management companies (AMCs).
The Securities and Exchange Board of India (Sebi) proposed new measures to strengthen the regulatory framework for ESG Rating Providers (ERPs), aiming to enhance transparency and accountability. The proposals focus on key areas such as withdrawal of ESG ratings and disclosure of rating rationale.
ERPs are entities providing environment, social and governance (ESG) ratings. Last year, the market regulator made it mandatory for such entities to register and obtain an ERP license.
Now, in a discussion paper, Sebi has outlined conditions for ERPs to withdraw ratings under both subscriber-pays and issuer-pays models.
Under the subscriber-pays model, Sebi has proposed that ERPs can withdraw a rating if there are no subscribers for the rating. However, if the rated entity or instrument is part of a rating package (such as the Nifty 50 index) with subscribers, the rating may not be withdrawn. Also, if any rating is withdrawn, the rating has to be withdrawn for all subscribers, Sebi said.
Meanwhile, under the issuer-pays model, ERPs will be able to withdraw a rating after rating the security continuously for three years, or 50 per cent of the security’s tenure -- whichever is higher-- and on receiving a nod from 75 per cent of bondholders by value.
Sebi has also proposed that ERPs following a subscriber-pays model should share detailed rating rationales and reports only with subscribers and not disclose them on their websites. However, they must disclose the ESG ratings assigned on their websites in a specified format.
Further, stock exchanges will be asked to prominently disclose ESG ratings on their websites under a separate tab or a section for listed companies and securities.
The regulator has also proposed that internal audits and composition of nomination and remuneration committee (NRC) for Category-II ERPs will be mandated after two years after issuance of the new rules.
The regulator has invited public comments on the proposals by March 6.
Since the introduction of ERP framework, close to a dozen entities have either obtained an ERP registration or are in the process of obtaining one. Some of these include NSE’s arm NSE Sustainability Ratings & Analytics, units owned by credit rating agencies ICRA, Crisil and CareEdge.
The Reserve Bank of India (RBI) has, by an order dated February 07, 2025, imposed a monetary penalty of Rs. 1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Tiruppur Co-operative Urban Bank Ltd., Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’, and ‘Know Your Customer (KYC)’.
The Reserve Bank of India (RBI) has, by an order dated February 07, 2025, imposed a monetary penalty of Rs. 50,000/- (Rupees Fifty Thousand only) on The Ramanathapuram Co-operative Urban Bank Ltd., Ramanathapuram, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’.
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1.75 lakh on The Salem Urban Co-operative Bank Ltd., Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’, ‘Exposure Norms and Statutory/Other Restrictions – UCBs’, and KYC.
The Reserve Bank of India (RBI) has, by an order dated February 11, 2025, imposed a monetary penalty of Rs. 50,000/- (Rupees Fifty Thousand only) on The Mumbai Mahanagarpalika Shikshan Vibhag Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’.
World Radio Day on February 13, 2025, is dedicated to “Radio and Climate Change” to support radio stations in their journalistic coverage of this issue.
Proclaimed in 2011 by the Member States of UNESCO and adopted by the United Nations General Assembly (A/RES/67/124) in 2012 as an International Day, February 13 became World Radio Day (WRD).
Radio is a powerful medium for celebrating humanity in all its diversity and constitutes a platform for democratic discourse. At the global level, radio remains the most widely consumed medium.
Radio is uniquely positioned to bring communities together and foster positive dialogue for change.
Department for Promotion of Industry and Internal Trade (DPIIT) announced partnership with Rukam Capital and Bootstrap Incubation & Advisory Foundation on Monday to propel holistic growth of India’s startup ecosystem.
According to DPIIT, this collaboration, formalized through a Memorandum of Understanding (MoU), is aimed at creating dedicated programs and,
initiatives that empower product startups, innovators, and entrepreneurs across the country.
Their efforts will include providing access to critical resources such as infrastructure, mentor networks, funding opportunities, market linkages, and an extensive knowledge repository. Additionally, they will guide startups in achieving key milestones such as prototype development.
