Karnataka, Gujarat, and Tamil Nadu Recognized as Major Beneficiaries of 1990s Economic Reforms by the Economic Advisory Council to the Prime Minister.
Karnataka, Gujarat, and Tamil Nadu have emerged as the major beneficiaries of the economic reforms initiated in the 1990s, according to a report by the Economic Advisory Council to the Prime Minister (EAC-PM). The reforms, which liberalized the Indian economy, played a pivotal role in driving growth and development in these states. Karnataka's technology sector flourished, Gujarat became a hub for manufacturing, and Tamil Nadu saw significant advancements in industries like textiles and automobiles. The report highlights how these states effectively utilized the opportunities presented by the reforms, contributing to their economic prosperity and setting benchmarks for others.
The economic reforms of the 1990s paved the way for increased foreign investment in India, enhancing growth prospects.
These states have created job opportunities through industrial development, improving living standards and overall economic conditions.
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Government declares Adichunchanagiri in Karnataka and Choolannuar in Kerala as Peacock Sanctuary.
The government has declared Adichunchanagiri in Karnataka and Choolannuar in Kerala as new Peacock Sanctuaries. This decision is aimed at protecting and preserving the habitat of the peacock, India's national bird. The sanctuaries will provide a safe haven for peafowls, allowing them to thrive in their natural environment. Conservation efforts will include measures to protect these areas from human encroachment and habitat destruction. The establishment of these sanctuaries underscores the government's commitment to wildlife conservation and the protection of India's rich biodiversity.
The sanctuaries will include educational programs to raise awareness about peacock conservation among local communities.
The government plans to monitor and research peacock populations to ensure the effectiveness of conservation efforts.
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Karnataka Cabinet clears proposal to rename Ramanagara district as Bengaluru South district.
The Karnataka Cabinet has approved a proposal to rename Ramanagara district as Bengaluru South district. This decision aims to better reflect the district's geographical and administrative connection to Bengaluru. The move is expected to enhance administrative efficiency and align with the growing urban landscape of Bengaluru. The renaming process will involve updating official documents and signs, and officials are working to ensure a smooth transition. This change underscores the state's commitment to improving regional governance and responding to the evolving needs of its districts.
The renaming reflects the growth and expansion of Bengaluru's metropolitan area.
Local residents and officials support the name change for improved administrative clarity.
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ICICI Lombard Partners Karnataka Bank For Bancassurance.
ICICI Lombard General Insurance has announced a strategic partnership with Karnataka Bank to enhance its bancassurance offerings. This collaboration aims to leverage Karnataka Bank’s extensive branch network to offer ICICI Lombard’s diverse insurance products to a broader customer base. The partnership will provide customers with a range of insurance solutions, including health, motor, and property coverage, through Karnataka Bank’s branches. This initiative is expected to streamline access to insurance products for customers and strengthen ICICI Lombard’s market presence in the region.
Karnataka Bank customers will benefit from ICICI Lombard’s tailored insurance plans, enhancing financial security.
The alliance strengthens ICICI Lombard’s distribution channel, increasing accessibility to insurance products across Karnataka.
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Karnataka government promotes investment in Seoul.
On the second day of the delegation’s visit to Seoul, South Korea, the Government of Karnataka has signed two Memorandums of Understanding (MoUs) totalling ₹1040 crore with DN Solutions and EMNI Co. Ltd. The delegation was led by Minister for Large and Medium Industries and Infrastructure Development, M.B. Patil. These strategic partnerships are set to advance the state’s manufacturing, research and development, and battery technology sectors.
Karnataka aims to boost job creation through expanded industrial partnerships in Seoul. Minister Patil emphasizes growth in manufacturing and R&D sectors with Korean collaborations.
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GST rate rationalisation panel reconstituted with Bihar Deputy CM Chaudhary as convenor.
The GST Council on Friday made public that Group of Ministers to give recommendation on rate rationalisation has been reconstituted with Deputy Chief Minister of Bihar, Samrat Chaudhary as new convenor. Chaudhary will replace Finance Minister of Uttar Pradesh Suresh Khanna. The office memorandum, dated February 27 but posted the Council website now, says other members of the reconstituted panel are Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport Minister Mauvin Godinho, Rajasthan Medical, and Health Services Minister Gajendra Singh. It also includes West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, and Kerala Finance Minister K N Balagopal.
Chaudhary will replace Finance Minister of Uttar Pradesh Suresh Khanna.
Out of seven members GoM, four are from NDA and three from opposition-ruled States.
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ISRO successfully conducts 3rd and final landing experiment of Reusable Launch Vehicle ‘Pushpak’.
ISRO chairman S Somanath congratulated the team for their dedication in sustaining the streak of success in the landing experiment of ‘Pushpak’. The Indian Space Research Organisation (ISRO) accomplished the third landing experiment of the Reusable Launch Vehicle (RLV LEX-03) named ‘Pushpak’ on Sunday. According to a statement by the space agency, the test was carried out at 07:30 IST at the Aeronautical Test Range (ATR) located in Karnataka's Chitradurga.
The winged vehicle, 'Pushpak', was released from an Indian Air Force Chinook Helicopter at an altitude of 4.5 km on Sunday.
As a result of this mission, the sophisticated guidance algorithm addressing longitudinal and lateral plane error corrections, vital for future Orbital Re-entry Missions, has been authenticated.
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KVGB Received National Award from PFRDA for Implementation of APY.
Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank Bank has bagged National Award for significant enrollment under Atal Pension Yojana (APY) from Pension Fund regulatory and Development Authority (PFRDA) New Delhi. Mr. Shreekant M Bhandiwad, Chairman, KVGB received the Award from Dr. Vivek Joshi, Secretary, DFS, Government of India and Dr. Deepak Mohanty Chairman, PFRDA in a Summit held at New Delhi on Wednesday.
At present the Bank has 629 branches in the nine district jurisdiction from Vijayapura to Mangalore. It may be recalled here that the Bank made a national record by enrolling more than 44000 accounts on a single day in the last fiscal.
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Karnataka Bank Launched KBL WISE Senior Citizen Savings Account.
Karnataka Bank at a launch event held in Bengaluru announced the launch of KBL WISE Senior Citizens Savings Bank Account, a unique banking product designed to cater to the Banking, Healthcare & Wellness needs of our esteemed senior citizens. The Product has been aptly named KBL WISE i.e.: Wellness Investments & Savings for Elderly. The Savings product is available in two exclusive variants - KBL Wise Signature, a regular variant and KBL Wise Advantage, a premium variant. This innovative product offers an array of bundled features like 'Free Top-up Health insurance upto Rs.10 Lakhs, Free MediBuddy Healthcare Benefits, Free HospiCash Facility, Discount on Locker Rentals, Doorstep Banking facility, a Lifetime Free Ru pay Platinum Debit card, and other features.
The Bank has partnered with Care Health Insurance Co, a leading Health Insurance player and MediBuddy, one of India's largest Digital Healthcare platform to bring together the proposition on the Health and Wellness front.
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Karnataka becomes 1st State to give RS 1 Cr Accident Insurance Compensation; KSRTC distributes RS 1 Cr to Employees Dependents.
Transport Minister Ramalinga Reddy on Wednesday distributed compensation of Rs 1 crore each to the dependents of four Karnataka State Road Transport Corporation (KSRTC) employees who died in road accidents while on duty. The amount was awarded under KSRTC’s accident insurance relief compensation (Saarige Suraksha). At a programme held at the KSRTC head office here, the minister also handed over Rs 10 lakh each to the dependents of 23 employees who died due to various ailments, under KSRTC’s employees’ family welfare compensation scheme.
He also distributed Rs 10 lakh each to the dependents of four passengers who died in accidents while travelling in KSRTC buses.
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Ligdus Garvale a new spider speciee found in Karnataka.
A team of naturalists recently documented a new spider species named ‘Ligdus Garvale’ from Garvale, a village nestled in the Somwarpet taluk of the Kodagu district, Karnataka.Jumping spiders are the largest family of spiders, with more than 6,380 species (family Salticidae). They are known for their ability to jump and pounce upon their prey. They are very common in the tropics, but some also live in northern and even Arctic regions.
It is a new species of jumping spider. It marks only the second recorded instance of the Ligdus genus in 129 years.
It was discovered under the leaf of a torch ginger plant and bears a resemblance to Pseudoscorpions.
Due to its nature as a high canopy jumper, it often goes unnoticed and constructs a double-layered web for retreat.
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BJP MP from Karnataka's Chamarajanagar and former Union minister V Sreenivasa Prasad passed away at the age of 76 in Bengaluru.
BJP MP from Karnataka's Chamarajanagar and former Union minister V Sreenivasa Prasad passed away at the age of 76 in Bengaluru. On March 18 this year, Prasad announced his retirement from electoral politics. He started his political career with the erstwhile Janata Party in 1976 and joined the Congress in 1979. He also had a stint with the JD(S), JD(U), and the Samata Party before joining the BJP. Prasad served as the Union Minister of State for Consumer Affairs Food and Public Distribution in the Atal Bihari Vajpayee government from 1999 to 2004. He joined the Congress later, got elected as an MLA in 2013 and became the revenue and religious endowment minister in the Siddaramaiah government.
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Karnataka Bank has partnered with FISDOM to offer 3-in-1 (savings, demat and trading accounts) through the bank's mobile banking app 'KBL Mobile Plus'.
Karnataka Bank has partnered with FISDOM to offer 3-in-1 (savings, demat and trading accounts) through the bank's mobile banking app 'KBL Mobile Plus'. This strategic association is all set to enhance the current value proposition of enabling customers to invest in stocks and mutual funds. This offering will empower its customers with seamless access to both investment opportunities and trading functionalities, all within a single, user-friendly interface. The 3-in-1 facility enables customers to streamline their investment journey by consolidating their demat and trading accounts. Karnataka Bank offer a wide range of customized products and services, including loans, deposits, and international banking solutions.
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Tata Advanced Systems (TASL) has launched India’s first private sector-built sub-metre resolution earth observation satellite, TSAT-1A, in collaboration with Satellogic.
Tata Advanced Systems (TASL), Tata Sons' wholly-owned subsidiary, has launched India’s first private sector-built sub-metre resolution earth observation satellite, TSAT-1A, in collaboration with Satellogic. The satellite was launched from the Kennedy Space Center, Florida, by SpaceX Falcon 9 rocket on April 7. The satellite was assembled at TASL’s facility in Karnataka. Elon Musk's SpaceX launched a total of 11 satellites in its maiden Bandwagon flight. TSAT-1A will provide high-resolution satellite images with low-latency delivery. The Indian armed forces are expected to be one of its major users. This is the first sub-metre high-resolution earth observation satellite by the private sector in India.
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Air India and Bangalore International Airport Limited (BIAL) have signed a pact to develop the Bengaluru airport as an aviation hub.
Air India and Bangalore International Airport Limited (BIAL) have signed a pact to develop the Bengaluru airport as an aviation hub. Air India (along with other Tata Group airlines – AIX and Vistara) and BIAL will collaborate to enhance international connectivity, operational efficiency, and passenger experience over the next five years. Air India and Vistara will strengthen their presence at the Bengaluru airport. Air India has signed a Memorandum of Understanding (MoU) with the Karnataka government to establish a comprehensive MRO facility at the Bengaluru airport.
Air India is wholly owned by the Tata Group, while AIX Connect and Air India Express are its wholly-owned subsidiaries.
The Bengaluru airport is operated by Fairfax-run BIAL.
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The government appointed former Karnataka High Court Chief Justice PS Dinesh Kumar as the presiding officer and former principal chief commissioner of income tax Dheeraj Bhatnagar as a technical member to the Securities Appellate Tribunal (SAT).
The government appointed former Karnataka High Court Chief Justice PS Dinesh Kumar as the presiding officer and former principal chief commissioner of income tax Dheeraj Bhatnagar as a technical member to the Securities Appellate Tribunal (SAT). Justice Kumar has been appointed for four years or till he attains the age of 70 years, whichever is earlier. While Bhatnagar has been appointed for four years or until he turns 67 years, whichever comes first. They are replacing Justice Tarun Agarwala who demitted office in December 2023 and technical member MT Joshi, who retired in February 2023. Presently, there is only one technical member, Meera Swarup who has been hearing matters.
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NDDB chief Meenesh Shah has been unanimously elected as chairman of National Cooperative Dairy Federation of India Ltd (NCDFI).
NDDB chief Meenesh Shah has been unanimously elected as chairman of National Cooperative Dairy Federation of India Ltd (NCDFI). NCDFI has also elected 8 directors on its board unopposed. 8 directors on the Board unopposed which include, Dr Meenesh Shah, Jharkhand Milk Federation; Dr. Mangal Jit Rai, Sikkim Milk Union; Shamalbhai B. Patel, Gujarat Milk Federation; Randhir Singh, Haryana Milk Federation; K. S Mani, KeralaMilk Federation; Balachandra L. Jarakiholi, Karnataka Milk Federation; Narinder Singh Shergill, Punjab Milk Federation and Sameer Kumar Parida, West Assam Milk Union. Apart from these elected directors, Shri S. Regupathi, Executive Director, NDDB is the nominated director on the Board of NCDFI. Dr. Meenesh Shah has long been acknowledged for his pivotal role and substantial contributions to the dairy cooperative sector, fostering growth and sustainability over the years.
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India plans to build its first privately managed strategic petroleum reserve (SPR) by 2029-30.
India plans to build its first privately managed strategic petroleum reserve (SPR) by 2029-30, granting the operator the freedom to trade all of the stored oil. Allowing a fully commercial SPR mirrors the model adopted by countries such as Japan and South Korea, which allow private lessees, mostly oil majors, to trade the crude. So far, India has allowed only partial commercialisation for its three existing SPRs in southern India, which have a combined capacity of 36.7 million barrels. India plans to build two new SPRs - the first a 18.3 million barrels cavern at Padur in southern Karnataka state, and then a 29.3 million barrels SPR in eastern Odisha state - with private partners allowed to trade all of the oil locally.
Expanding oil storage capacity would also help India join the International Energy Agency (IEA), which requires its members to hold a minimum of 90 days of oil consumption.
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