Singapore and India have signed a Letter of Intent (LOI) to cooperate on maritime digitalisation and decarbonisation. The LOl was inked by Mr Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore and Shri R. Lakshmanan, Joint Secretary of the Ministry of Ports. Shipping and Waterways ( (MOPSW) of India.
Under the LOl, both sides will collaborate on maritime digitalisation and decarbonisation projects, including identifying relevant stakeholders who could contribute to the effort, and work towards formalising the partnership through a memorandum of understanding on a Singapore-India Green and Digital Shipping Corridor (GDSC).
Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya announced that the Employees’ State Insurance Corporation (ESIC) has expanded its coverage in Uttar Pradesh by notifying 15 additional districts under the Employees’ State Insurance (ESI) Scheme. This marks significant step towards strengthening social security for workers in the state.
He mentioned that with this notification, a total of 74 out of 75 districts in Uttar Pradesh are now fully covered under the ESI Scheme, benefiting 30.08 lakh Insured Persons (IPs) and 1.16 crore beneficiaries.
Canara Bank has appointed S.K. Majumdar as its Executive Director, with effect from March 24, 2025. His promotion follows a distinguished career of more than 25 years in banking, with his last assignment as Chief Financial Officer in Canara Bank. The appointment was made official by a notification from the Ministry of Finance, Department of Financial Services.
S.K. Majumdar is 56 years old and a very seasoned banking expert with impressive qualifications as a Chartered Accountant and Cost Accountant. Joining Canara Bank in January 2000, he has proven himself to be an outstanding leader with very strong financial skills in several assignments at branches and administrative offices.
Ribbit Capital, a leading Fintech-focused VC firm from San Francisco, is preparing to raise $500 million for its latest flagship fund, Ribbit Capital Y, as revealed in recent filings with the U.S. Securities and Exchange Commission (SEC).
Ribbit Capital has positioned itself as one of the major players in the fintech space, having invested in some of India’s top unicorns,
like CRED, Razorpay, BharatPe, and PhonePe. The company initially invested in India in 2014 with PolicyBazaar and has backed other digital platforms like MoneyView and the now-dissolved ZestMoney.
The company’s fresh fundraising campaign reflects its long-term commitment to the Indian market, where two of its best companies—PhonePe and Groww—are said to be preparing for,
initial public offerings (IPOs). PhonePe, which is valued at around $12 billion, is planning to file draft papers by June for a listing this year. The company wants to be worth $15 billion when it lists. Similarly, Groww is also preparing for its own IPO, aiming to raise over $1 billion.
Bain Capital, a leading global private investment firm, has announced its acquisition of joint control in Manappuram Finance, one of India’s foremost non-banking financial companies (NBFCs) and the second-largest gold financier in the country. The firm will invest Rs. 4,385 crore (approximately $508 million) to acquire an 18% stake in the company through its affiliates,
BC Asia Investments XXV Limited and BC Asia Investments XIV Limited. This strategic move is expected to enhance Manappuram Finance’s operational excellence and expand its market presence.
The investment will be executed via a preferential allotment of equity and warrants priced at Rs. 236 per share, which represents a 30% premium over the six-month average trading price.
As part of the agreement, Bain Capital will trigger a mandatory open offer for an additional 26% stake in Manappuram Finance. Depending on the subscription to this open offer, Bain’s total stake could increase to between 18% and 41.7%.
Founded in 1949, Manappuram Finance has established itself as a trusted financial institution with a customer base exceeding 6.59 million.
The Centre announced a revision in the salary, pension and additional pension of Members of Parliament (MPs) and Ex-Members of Parliament notifying a 24 per cent hike in the salaries of the current MPs.
The notification, issued by the Ministry of Parliamentary Affairs, also increased the daily allowances for sitting members and pension and,
pension and additional pension for every year of service over five years for former members.
The increase in the salary has been notified in the exercise of the powers granted under the Salary, Allowances and Pension of Members of Parliament Act based on the Cost Inflation Index specified in the Income Tax Act of 1961.
The National Education Policy (NEP), 2020 emphasizes the critical importance of universal and high-quality Early Childhood Education along with the power of multilingualism and the importance of including children’s languages in primary education.
To fulfil the vision of NEP 2020, the Department of School Education & Literacy (DoSE&L), Ministry of Education has launched “Baalpan ki Kavita initiative: Restoring Bhartiya rhymes/poems for young children” for preparing a compendium of nursery rhymes/poems in all Bhartiya Bhasha and also in English, focusing on content relevant to the Indian context.
The purpose of this initiative is that the young children can have better learning at the Foundational stage by becoming familiar with the world around them through easily understandable and joyful poems and rhymes, in their mother tongue.
To further this initiative, the DoSE&L in collaboration with MyGov is inviting contribution to the,
“Baalpan ki Kavita initiative: Restoring Bhartiya rhymes/poems for young children”. The participants of the contest can send existing poems/rhymes popular in folklore (mentioning the name of the author) or newly composed joyful poems/rhymes under three categories:
Pre-primary (ages 3-6)
Grade 1 (ages 6-7)
Grade 2 (ages 7-8)
The Gold Monetisation Scheme (GMS) was announced on 15th September, 2015 with the objective to reduce country’s reliance on the import of gold in the long run and mobilise gold held by households and institutions in the country to facilitate its use for productive purposes.
The GMS comprised of 3 components:
Short Term Bank Deposit (1-3 years)
Medium Term Government Deposit (5-7 years), and
Long-Term Government Deposit (12- 15 years)
Based on the examination of the performance of Gold Monetisation Scheme (GMS) and evolving market conditions, it has been decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of the GMS w.e.f. March 26, 2025.
Accordingly, any gold deposits tendered at the designated Collection and Purity Testing Centre (CPTC) or GMS Mobilisation, Collection & Testing Agent (GMCTA) or the designated bank branches under the said components of GMS shall not be accepted with effect from March 26, 2025.
However, the existing deposits under MLTGD shall continue till redemption as per extant guidelines of GMS issued vide Reserve Bank Master Direction.
Further, the Short-Term Bank Deposits (STBD) offered by the banks under GMS shall continue at the discretion of the individual banks based on the commercial viability as assessed by them.
Government is reviewing the financial performance of Regional Rural Banks (RRBs) at national and regional levels. The agenda items for the review meetings, inter-alia, include:
The Ministry of Statistics and Programme Implementation (MoSPI), in collaboration with the Indian Institute of Management Ahmedabad (IIMA), organized a workshop on "Emerging Trends in Public Data and Technology for Research and Policy" at the IIM Ahmedabad campus.
This initiative aligns with MoSPI's ongoing efforts to enhance the national data ecosystem and advance evidence-based policymaking.
A major milestone of the workshop was the signing of a Memorandum of Understanding (MoU) between MoSPI and IIMA. This partnership will serve as a framework for collaborative efforts in data innovation,
ensuring that academic research contributes effectively to policy development. As a precursor to the workshop, a focused session with IIMA faculty was conducted in the forenoon. The session explored avenues for leveraging the expertise of both institutions to enhance data-driven policy support.
The Competition Commission of India has approved acquisition of Athaang Devanahalli Tollway Private Limited, Athaang Jammu Udhampur Highway Private Limited and Quazigund Expressway Private Limited by Cube Highways Trust and Cube Highways and Infrastructure V Pte. Ltd.
The Proposed Combination envisages:
acquisition of 100% shareholding of Athaang Devanahalli Tollway Private Limited (ADTPL) by Cube Highways and Infrastructure V Pte. Ltd. (Cube V); and
acquisition of 100% shareholding of (i) Athaang Jammu Udhampur Highway Private Limited (AJUHPL), and (ii) Quazigund Expressway Private Limited (QEPL) by Cube Highways Trust (Cube Trust).
Hereinafter ADTPL, AJUHPL and QEPL are collectively referred to as the ‘Targets’)
The Cube Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India (SEBI) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (as amended).
The Competition Commission of India has approved the proposed combination involving, inter alia, Maple Infrastructure Trust (MIT); CDPQ Infrastructures Asia III Inc. (CDPQ Asia); Maple Highways Pte. Ltd.; 360 ONE Private Equity Fund and certain road assets of the Ashoka Buildcon group.
The Proposed Combination involves the acquisition by MIT, acting through Maple Infra Invit Investment Manager Private Limited (Maple IM) of Ashoka Dhankuni Kharagpur Tollway Limited (ADKTL); Ashoka Sambalpur Baragarh Tollway Limited (ASBTL); Ashoka Belgaum Dharwad Tollway Limited (ABDTL); Ashoka Highways (Bhandara) Limited (AHBL); and Ashoka Highways (Durg) Limited (AHDL).
In 2006, the United Nations General Assembly, through resolution 61/19, recognized that “the slave trade and slavery are among the worst violations of human rights in the history of humanity, bearing in mind particularly their scale and duration” and designated 25 March 2007 as the International Day for the Commemoration of the Two-hundredth Anniversary,
of the Abolition of the Transatlantic Slave Trade. The following year, through resolution 62/122, it designated 25 March as an annual International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade, beginning in 2008.
The Abolition of the Slave Trade Act was passed in the United Kingdom on 25 March 1807.
Every year, it is observed on March 25 by the United Nation to commemorate the anniversary of the abduction of Alec Collett, who was a journalist and died while working for the UN. Take a look at its origin, the purpose behind the observation, and more.
The first resolution on staff security was adopted by the UN Security Council in September 1993.
Since the founding of the United Nations in 1945, hundreds of brave men and women have lost their lives in its service. During the 1990s, the growing number and scale of UN peacekeeping missions put many more at risk. More lives were lost during the 1990s than in the previous four decades combined.
