In current cotton season 2024-25, up to March 31, 2025, Government of India, through its nodal agency, the Cotton Corporation of India Ltd. (CCI) under Ministry of Textiles has successfully procured 525 lakh quintals of seed cotton, equivalent to 100 lakh bales, under Minimum Support Price (MSP) operations.
This procurement accounts for 38% of the total cotton arrivals of 263 lakh bales and 34% of the estimated total cotton production of 294.25 lakh bales in the country.
Among the states, Telangana has recorded the highest procurement at 40 lakh bales, followed by Maharashtra with 30 lakh bales and Gujarat with 14 lakh bales.
Other states with significant procurement include Karnataka (5 lakh bales), Madhya Pradesh (4 lakh bales), Andhra Pradesh (4 lakh bales), and Odisha (2 lakh bales). Procurement in Haryana, Rajasthan, and Punjab stands at 1.15 lakh bales. In total, Rs.37,450 crore has been paid to approximately 21 lakh cotton farmers across all cotton producing states.
The MSP mechanism continues to provide remunerative prices to cotton farmers, protecting them from distress sales when market prices fall below the MSP. To facilitate efficient procurement, CCI has opened 508 procurement centers nationwide. Several digital initiatives have been implemented, including on-spot Aadhaar authentication,
SMS notifications for payments and 100% direct payments through the National Automated Clearing House (NACH). The Cott-Ally mobile app, available in nine regional languages, enables farmers to access real-time information on MSP rates, procurement centers, and payment tracking.
Department of Financial Services (DFS) has notified amalgamation of 26 Regional Rural banks (RRBs) on the principles of “One State One RRB”. This is fourth phase of amalgamation of RRBs.
Considering the improvement in efficiency of the RRBs due to amalgamations in the past,
Ministry of Finance had rolled out an amalgamation plan in November-2024 for consultation with stakeholders. After consultation with stakeholders, amalgamation of 26 RRBs in 10 States and 1 UT have been carried out with primary focus on improvement in scale efficiency and cost rationalization.
At present, 43 RRBs are functioning in 26 States and 2 UTs. Post amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22000 branches covering 700 districts. Their predominant area of operation is in rural areas with approx. 92% of branches in rural/semi urban areas.
This is fourth phase of amalgamation. In previous 3 phases viz. Phase-I (FY 2006 to FY 2010) number of RRBs were reduced from 196 to 82, Phase-2 (FY 2013 – FY 2015) number of RRBs were reduced from 82 to 56 and Phase-3 (FY 2019 to FY 2021) number of RRBs were reduced from 56 to 43.
The Pradhan Mantri MUDRA Yojana (PMMY), launched on 8th April 2015 by Prime Minister Shri Narendra Modi, celebrates 10 glorious years of empowering small and micro-entrepreneurs across India. Aimed at fostering financial inclusion, PMMY provides easy collateral-free loans up to Rs. 10 lakh for non-corporate and non-farm income-generating activities.
To strengthen support for aspiring entrepreneurs, the Finance Minister announced an increase in the loan limit to Rs. 20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit took effect on October 24, 2024.These loans are extended through Banks, NBFCs, MFIs, and other financial institutions.
Department of Drinking Water and Sanitation (DDWS) under Ministry of Jal Shakti, is actively participating in the 7thedition of Poshan Pakhwada from 8thto 23rdApril 2025. Aligning with the Ministry of Women and Child Development’s Saksham Anganwadi scheme, the department’s campaign is themed,
“Shuddh Jal aur Swachhta Se SwasthBachpan” (Clean Water and Sanitation for Healthy Childhood), with a tagline “Purn Poshan Ki Shuruwaat, Shuddh Jal aur Swachhta Ke Saath” focusing specifically on clean water practices and sanitation as crucial elements for a child’s nutrition and overall health.
PNB MetLife India Insurance Company Limited has partnered with Policybazaar to launch the PNB MetLife Pension Premier Multicap Fund under its Unit-Linked Insurance Plans (ULIPs). This new fund is designed to help customers build a robust retirement corpus while providing life insurance coverage, ensuring financial protection for families in unforeseen circumstances.
The Pension Premier Multicap Fund is available with the PNB MetLife Smart Invest Pension Plan (UIN – 117L137V02), which combines wealth creation with life insurance. The fund is open for subscription from April 1 to April 15, 2025, at an initial Net Asset Value (NAV) of Rs. 10. After this period, it will be available at market value.
Key Features of the Pension Premier Multicap Fund:
Diversified Portfolio: The fund invests across various sectors and market capitalizations to ensure balanced growth.
Proven Strategy: It leverages PNB MetLife’s successful multicap investment strategy for consistent wealth generation.
Market Outperformance: Aims to deliver returns exceeding the S&P BSE 500 Index.
Bank of Baroda has introduced a new fixed deposit option called the ‘bob Square Drive Deposit Scheme’. The updated FD interest rates, including the new scheme, came into effect on April 7 and apply to deposits of less than Rs 3 crore. Meanwhile, the bank has also withdrawn its special Utsav Deposit Scheme.
The ‘bob Square Drive Deposit Scheme’ offers a tenure of 444 days with an interest rate of 7.15 per cent per annum for the general public. Senior citizens will receive a higher interest rate of 7.65 per cent per annum, while super senior citizens (aged 80 years and above) will earn an even higher rate of 7.75 per cent per annum.
The Board of Oman India Joint Investment Fund—Management Company, a private equity fund manager promoted by the Oman Investment Authority and the State Bank of India, has appointed Satish Chavva as its Chief Executive Officer.
Chavva joins from British International Investment, the UK’s development finance institution, where he held various roles, including heading Direct Private Equity for South Asia.
He brings over 20 years of experience across private equity investing and finance.
Chavva has a deep association with OIJIF, having previously served as Director of Investments at OIJIF between 2016 and 2022. Prior to that, he was with Citi Group in India and the UK, including in its private equity arm,
Citi Venture Capital International for over 9 years.
Padma Shri Ram Sahay Pandey, a legendary figure in Rai folk dance, passed away at 92 after a prolonged illness. Pandey’s contributions to Rai dance left a lasting impact.
Chief Minister Mohan Yadav paid tribute, recognizing his dedication to folk art and global recognition of Rai dance.
Pandey fought against societal stigma, especially since Rai is linked to the marginalized Bedia community, once targeted by the Criminal Tribes Act. He was awarded the Padma Shri in 2022 for his work in preserving and promoting Rai dance. He also received the title ‘Nritya Shiromani’ and was appointed to the Tribal Folk Art Council by the Madhya Pradesh government.
Virat Kohli became the first Indian to complete 13,000 runs in T20 cricket history. He achieved the historic milestone during the clash between Royal Challengers Bengaluru (RCB) and Mumbai Indians (MI) at the iconic Wankhede Stadium, April 7.
Virat Kohli became the first Indian and only fifth overall cricketer to score 13,000 runs in T20 cricket.
Virat Kohli became the first Indian and only fifth overall cricketer to score 13,000 runs in T20 cricket. He achieved it with the 17th run he scored during his innings against MI.
He achieved it with the 17th run he scored during his innings against MI.
Before him, only four batters have managed to attain the 13,000 T20 runs mark.
The list is led by West Indies legend Chris Gayle with 14562 runs, followed by England batter Alex Hales (13,610), former Pakistan skipper Shoaib Malik (13557) and Keiron Pollard (13537).
Lisbon Mayor Carlos Moedas welcomed President Droupadi Murmu in a ceremony to hand over the City Key of Honour, making her an honorary citizen of the City of Seven Hills.
The President, who is on a two-day state visit to Portugal, was given a Guard of Honour at the Camara Municipal de Lisboa, the historical building where the proclamation of the First Republic of Portugal had taken place from its Noble balcony in 1910.
Mr. Moedas said with the handing over of the City Key of Honour, President Murmu becomes an honorary citizen of Lisbon.
She was taken to the Noble Salon where the ceremony to hand over the City Key of Honour took place with the room packed with Indians who had settled there.
the Ministry of Coal has signed Coal Mine Development and Production Agreements (CMDPAs) with the successful bidders of two coal mines—Marwatola-II and Namchik West—under the 11th round of commercial coal mining auctions.
These agreements mark another step toward the country’s goal of achieving self-reliance in coal production.
Singhal Business Private Limited has secured the Marwatola-II block, while PRA Nuravi Coal Mining Private Limited has emerged as the successful bidder for Namchik West.
Of the two coal mines, one is fully explored and the other is partially explored.
Combined, they are projected to generate an estimated annual revenue of Rs. 106.14 crore, based on a total Peak Rated Capacity (PRC) of ~0.34 million tonnes per annum (MTPA). To operationalise these mines, a capital investment of approximately Rs. 55 crore will be required.
In terms of employment potential, the two blocks are expected to create around 460 direct and indirect job opportunities, contributing to the socio-economic development of their respective regions.
With these additions, the Ministry of Coal has now signed CMDPAs for a total of 120 coal mines auctioned under the commercial coal mining framework.
These mines represent a cumulative PRC of 265.64 MTPA, with an estimated annual revenue generation of Rs. 37,300 crore and a projected investment of Rs. 39,900 crore. Moreover, they are expected to provide employment to nearly 3,59,200 individuals across the country.
The Investor Education and Protection Fund Authority (IEPFA), under the aegis of the Ministry of Corporate Affairs, and India Post Payments Bank (IPPB), operating under the Department of Posts, have signed a Memorandum of Agreement (MoA) to jointly launch Phase 2 of the “Niveshak Didi” initiative.
This strategic collaboration aims to scale financial literacy among women in rural, semi-urban, and underserved areas through grassroots mobilization and community-driven education.
“Niveshak Didi” is a unique initiative that trains women postal workers and community leaders to act as financial educators within their local regions.
During Phase 1, more than 55,000 beneficiaries participated in IPPB Financial Literacy Camps across India, with approx. 60% female beneficiaries mostly in the youth & economically active age group. Every 2 out of 3 such beneficiaries belonged to deep rural locations ensuring maximum penetration at the grassroots levels.
Building on the success of Phase 1, this new phase will see the deployment of over 4,000 financial literacy camps across India. These camps will be led by almost 40,000 women postal workers trained as Niveshak Didis, who will conduct sessions on responsible investing, fraud awareness, savings habits, and digital banking tools.
