Axis AMC Launches India’s First Target Maturity Mutual Fund Scheme Focused on the NBFC Sector.
Axis Asset Management Company (AMC) has launched India's first mutual fund scheme targeting the non-banking financial company (NBFC) sector. This innovative scheme is designed to provide investors with an opportunity to invest in fixed-income securities with a target maturity. The mutual fund aims to capitalize on the growth potential of the NBFC sector, which has been playing a crucial role in financing and supporting various sectors of the economy. By focusing on this segment, Axis AMC aims to enhance investor returns while managing risks effectively.
The new fund offers investors a unique opportunity to diversify their portfolios with a focus on the NBFC sector.
__________________________________________
National Service Scheme (NSS) day is celebrated on 24 September 2024.
On September 24, 2024, the National Service Scheme (NSS) Day was celebrated across India to honor the contributions of the NSS in promoting social responsibility among youth. Established in 1969, NSS aims to engage students in community service and awareness programs, fostering a spirit of volunteerism and civic engagement. Various activities were organized by educational institutions, including health camps, cleanliness drives, and workshops focused on social issues. The celebration emphasized the importance of youth participation in nation-building and encouraged students to contribute positively to society, thereby strengthening the bond between them and their communities.
Engaging in community service through NSS helps students develop leadership skills and a sense of empathy for others.
NSS encourages students to take initiative and become active participants in addressing societal challenges in their communities.
__________________________________________
Ayushman Bharat PM-JAY Celebrates 6 Years of Successful Implementation.
PM-JAY(Pradhan Mantri Jan Arogya Yojana) is a flagship health insurance scheme launched by the Government of India in 2018, aimed at providing affordable healthcare to economically disadvantaged families. As it completes six years of successful implementation, PM-JAY has significantly transformed the healthcare landscape in India. The scheme has facilitated access to quality medical services for over 10 crore beneficiaries, covering hospitalization costs for a wide range of treatments. Its focus on financial protection has helped reduce out-of-pocket expenses for families, ensuring they receive timely medical care. The initiative continues to strengthen India’s commitment to universal health coverage.
The scheme promotes preventive healthcare, encouraging regular check-ups and early diagnosis to improve overall community health.
PM-JAY strengthens healthcare infrastructure by collaborating with private hospitals, ensuring better services and facilities across regions.
__________________________________________
From 15th to 17th September 2024, PM Narendra Modi was on a visit to three states aimed at boosting infrastructure, health, and education initiatives.
From 15th to 17th September 2024, PM Narendra Modi visited Jharkhand, Gujarat, and Odisha to boost infrastructure, health, and education initiatives. During his visit, he reviewed the progress of key development projects, focusing on enhancing regional infrastructure and improving healthcare and educational facilities. The Prime Minister inaugurated new industrial zones and launched various public welfare schemes aimed at promoting economic growth. He also held discussions with state officials and local communities to address specific challenges and explore growth opportunities. This tour was part of the government's continued efforts to accelerate development across different regions of the country.
The Prime Minister emphasized the importance of collaboration between the central and state governments to ensure effective implementation of development projects.
Local community engagement was highlighted as a crucial factor in addressing regional issues and tailoring solutions to specific needs.
__________________________________________
Union Finance Minister Nirmala Sitharaman Launches "NPS Vatsalya" a Pension Scheme for Minors under the National Pension System (NPS) in New Delhi.
Union Finance Minister Nirmala Sitharaman launched NPS Vatsalya, a new pension scheme for minors, in New Delhi. The initiative aims to provide financial security for children, enabling them to accumulate savings from a young age. Under the National Pension System (NPS), the scheme will allow parents or guardians to invest on behalf of their children, ensuring a stable income source when they reach adulthood. This program is part of the government's broader efforts to promote financial literacy and inclusion among the youth. Sitharaman emphasized the importance of early savings for future financial stability.
The NPS Vatsalya scheme encourages responsible financial planning for children, fostering a habit of saving early in life.
This initiative aims to enhance financial security for minors, promoting their future well-being and independence.
__________________________________________
Jana Small Finance Bank Launches "Liquid Plus" FD Offering 6.75% Interest Rate.
Jana Small Finance Bank has announced the launch of its "Liquid Plus" fixed deposit (FD) scheme, offering an attractive interest rate of 6.75%. This new product aims to provide customers with a safe investment option while ensuring liquidity. With the Liquid Plus FD, depositors can enjoy the benefits of higher returns compared to traditional savings accounts, making it an appealing choice for those looking to grow their savings. The bank encourages customers to take advantage of this opportunity to enhance their financial portfolio. The scheme is part of Jana Small Finance Bank's commitment to offering innovative financial solutions.
The "Liquid Plus" FD offers flexible tenures to cater to diverse customer needs and preferences.
__________________________________________
Mizoram CM Pu Laldahoma Launches "Bana Kaih" Scheme to Support Farmers and Entrepreneurs.
Mizoram Chief Minister Pu Lalduhoma has launched the Bana Kaih scheme aimed at supporting farmers and entrepreneurs in the state. The initiative is designed to provide financial assistance and resources to enhance agricultural productivity and promote local businesses. During the launch, Lalduhoma emphasized the importance of empowering the farming community and fostering entrepreneurship as key drivers of economic growth in Mizoram. The scheme will focus on sustainable practices and innovative techniques to boost agricultural output while encouraging young entrepreneurs to contribute to the state's development. This move is expected to improve livelihoods and strengthen the local economy.
The scheme will provide training programs to enhance farmers' skills and promote innovative agricultural techniques.
Financial support will be available for small businesses to encourage entrepreneurship in rural areas.
__________________________________________
Fabindia Collaborates with Ministry of Micro, Small and Medium Enterprises (MoMSME) to Empower India's Artisanal Heritage under the PM Vishwakarma Scheme.
Fabindia has announced a collaboration with the Ministry of Micro, Small and Medium Enterprises (MoMSME) to promote India's rich artisanal heritage under the PM Vishwakarma Scheme. This initiative aims to empower local artisans by providing them with access to markets, training, and resources. By leveraging Fabindia's extensive retail network, artisans will gain visibility and opportunities to showcase their craftsmanship. The partnership underscores the commitment to preserving traditional crafts while fostering sustainable economic growth in rural communities. This move is expected to enhance the livelihoods of countless artisans across India, contributing to the revival and promotion of indigenous skills and products.
The collaboration will enhance training programs for artisans, improving their skills and productivity in traditional crafts.
Fabindia aims to increase market access for artisans, helping them reach a broader customer base across India.
__________________________________________
"Small Savings Schemes Surge 13.8%, Driven by Sukanya Samriddhi and Senior Citizen’s Scheme.
Recent data show small savings schemes have experienced a robust 13.8% annual growth, reaching ₹18.1 lakh crore by February 2024. This surge is largely attributed to the popularity of the Sukanya Samriddhi Yojana and the Senior Citizens Savings Scheme. These schemes offer attractive returns and have attracted significant investor interest. Despite interest rates being linked to government bond yields and needing quarterly adjustments, changes have been infrequent.
Seven out of the 20 small savings schemes have recorded notable growth rates between 9% and 11% over the past year, contributing to the overall increase.
These schemes help the government finance its expenditure while promoting regular savings among the public, aligning with broader financial and economic policies.
Analysts will be watching how upcoming adjustments to interest rates and economic conditions influence the growth of these savings schemes in the future.
__________________________________________
Union Minister Kiren Rijiju Launches 6 Initiatives as Part of 100-Day Achievements of the Ministry of Panchayati Raj (MPA).
Union Minister Kiren Rijiju has launched six new initiatives as part of the Ministry of Panchayati Raj’s (MPA) 100-day achievements. These initiatives aim to enhance rural development and strengthen local governance. The new projects focus on improving infrastructure, increasing transparency in Panchayat elections, and fostering better community engagement. The moves are designed to empower local self-governance bodies and ensure that the benefits of government schemes reach rural areas more effectively. Rijiju emphasized that these initiatives reflect the government's commitment to holistic development and strengthening the foundations of grassroots democracy.
The initiatives will boost rural employment opportunities and enhance the delivery of essential services at the local level.
Increased funding for Panchayats will support infrastructure development and improve access to government schemes for villagers.
__________________________________________
Pradhan Mantri Kisan Maandhan Yojana Completes 5 Years of Successful Implementation.
The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) has successfully completed five years since its launch. Introduced in 2019, the scheme aims to provide financial security to small and marginal farmers across India by offering a monthly pension of ₹3,000 after the age of 60. Over the past five years, millions of farmers have enrolled in the scheme, which is seen as a significant step towards ensuring the welfare of the agricultural community. By promoting social security, the initiative helps alleviate financial concerns for farmers in their later years, contributing to a more stable rural economy.
Over 2 crore farmers have benefitted from the scheme, ensuring long-term financial stability for many.
The government plans to enhance the scheme by expanding eligibility and increasing pension benefits in the future.
__________________________________________
Odisha CM Mohan Charan Majhi Launches CM-KISAN Scheme.
Odisha Chief Minister Mohan Charan Majhi has launched the CM-KISAN Scheme, aimed at supporting farmers across the state. The initiative is designed to provide financial assistance and resources to enhance agricultural productivity and ensure better livelihoods for the farming community. Under this scheme, farmers will receive subsidies on various agricultural inputs, including seeds and fertilizers, and access to advanced farming techniques. The CM-KISAN Scheme reflects the government's commitment to improving the economic conditions of farmers and boosting agricultural growth in Odisha. The launch event was attended by various government officials and local leaders.
The scheme will also offer training programs to enhance farmers' skills in modern agricultural practices.
Farmers can avail of low-interest loans through the CM-KISAN Scheme for purchasing farming equipment and technology.
__________________________________________
Deposit Insurance and Credit Guarantee Corporation (DICGC) Introduces 'Daava Soochak' for Claim Status Tracking.
The Deposit Insurance and Credit Guarantee Corporation (DICGC) has introduced a new feature called 'Daava Soochak' to streamline the process of tracking insurance claims. This tool is designed to help policyholders easily check the status of their claims under the DICGC scheme. By providing real-time updates, 'Daava Soochak' aims to enhance transparency and efficiency, ensuring that claimants are well-informed throughout the process. This initiative reflects DICGC's commitment to improving customer service and ensuring a smoother experience for individuals seeking insurance compensation. The new feature is now available on the DICGC official website.
'Daava Soochak' simplifies claim status tracking, reducing processing delays and enhancing user experience.
The tool is accessible online, allowing users to monitor their insurance claims from anywhere.
__________________________________________
Bank of India (BoI) Launches 333-Day Star Dhan Vriddhi Fixed Deposit Scheme with Higher Interest Rates.
The Bank of India has unveiled its new 333-day fixed deposit scheme, Star Dhan Vriddhi, which offers attractive interest rates. This scheme is aimed at providing customers with a lucrative medium-term investment option, enhancing their savings growth. By offering higher returns compared to traditional fixed deposits, BoI seeks to meet the evolving needs of its clients and strengthen its competitive position in the financial market.
The new FD scheme offers attractive benefits for short-term investors looking for high returns.
Customers can enjoy a secure investment option with a fixed tenure and higher interest rates.
__________________________________________
Madhya Pradesh Government Launches Brindavan Gram Scheme and Gita Bhavan Project.
The Madhya Pradesh government has unveiled two significant initiatives: the Brindavan Gram Scheme and the Gita Bhavan Project. The Brindavan Gram Scheme aims to enhance rural infrastructure and improve the quality of life in villages by providing better facilities and services. Meanwhile, the Gita Bhavan Project is designed to promote cultural and spiritual activities by establishing centers dedicated to the teachings of the Bhagavad Gita. These projects are part of the government's broader effort to foster development and enrich the cultural fabric of the state.
The schemes aim to boost rural employment by creating local development projects and opportunities for residents.
The Gita Bhavan Project will include educational programs and community events focused on spiritual growth and heritage.
__________________________________________
DEA Announces 6 New Rules for PPF, Sukanya Samriddhi Yojana, and Other Small Savings Schemes Effective October 1, 2024.
The Department of Economic Affairs (DEA) has introduced six new regulations for Public Provident Fund (PPF), Sukanya Samriddhi Yojana, and other small savings schemes, effective October 1, 2024. These changes aim to enhance transparency and efficiency in the management of these schemes. The new rules include revised interest rates, updated eligibility criteria, and streamlined procedures for deposits and withdrawals. Investors are advised to review these changes to understand how they may impact their savings strategies. The DEA's move is part of its broader initiative to improve financial inclusion and safeguard the interests of small investors.
The new rules mandate annual reviews of interest rates to align with market conditions and Simplified documentation requirements aim to make account management easier for investors.
__________________________________________
RBI Launches Scheme for Trading and Settlement of Sovereign Green Bonds in International Financial Services Centre (IFSC).
The Reserve Bank of India (RBI) has introduced a new scheme for the trading and settlement of sovereign green bonds within the International Financial Services Centre (IFSC) in GIFT City, Gujarat. This initiative aims to enhance market access and liquidity for green bonds, supporting India's sustainable finance goals. The scheme will allow for more efficient and transparent transactions, providing a boost to the green bond market. It is expected to attract both domestic and international investors, reinforcing India's commitment to environmental sustainability and green financing.
The scheme facilitates streamlined green bond trading, enhancing India's role in global sustainable finance initiatives.
It provides a platform for international investors to engage in India's green bond market, fostering global collaboration.
__________________________________________
Union Cabinet Approves Progressive Expansion of Central Sector Scheme under Agriculture Infrastructure Fund.
The Union Cabinet has approved the progressive expansion of the Central Sector Scheme under the Agriculture Infrastructure Fund (AIF). This move aims to strengthen the agricultural sector by providing financial support for the creation of post-harvest management infrastructure and community farming assets. The expansion will facilitate increased credit flow and investment in agriculture, benefiting farmers, agripreneurs, and agricultural cooperatives. The scheme, which initially targeted infrastructure development, will now include additional components to ensure comprehensive agricultural growth and sustainability. This decision is expected to boost rural economies and enhance the overall agricultural productivity of the country.
The scheme expansion focuses on modernizing agricultural infrastructure to reduce post-harvest losses and increase farmer income.
Increased private sector participation will be encouraged under the expanded scheme for sustainable agricultural growth.
__________________________________________
Spices Board Launches SPICED Scheme to Boost Spice Exports and Productivity.
The Spices Board has introduced the SPICED (Spice Promotion and International Connectivity for Export Development) scheme to enhance spice exports and productivity. This initiative aims to support spice growers and exporters by providing financial assistance, technical support, and market development opportunities. The SPICED scheme will focus on improving infrastructure, quality standards, and international market access for Indian spices. By fostering innovation and efficiency in the spice industry, the board hopes to boost India's position in the global spice market and contribute to the overall growth of the sector.
The SPICED scheme will prioritize research and development to improve spice quality and production techniques.
Training programs under SPICED will educate farmers on best practices for sustainable and efficient spice cultivation.
__________________________________________
Pradhan Mantri Jan Dhan Yojana Celebrates 10 Years of Successful Implementation.
The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in August 2014, has completed 10 years of successful implementation. This flagship financial inclusion program aimed to provide access to banking services for all households, particularly those in rural and underserved areas. Over the decade, PMJDY has opened millions of bank accounts, significantly increasing financial literacy and inclusion across India. With features like zero-balance accounts and insurance coverage, the scheme has empowered numerous citizens. The 10-year milestone highlights the program's impact on reducing financial disparities and enhancing economic participation among India's population.
PMJDY has facilitated easier access to credit for underserved communities, boosting economic activities and small businesses.
The scheme has integrated digital banking features, enhancing the convenience of financial transactions for millions of users.
__________________________________________
Himachal Pradesh Government Launches Mukhya Mantri Sukh Sikhsha Yojana with Rs 53.21 Crore Allocation.
The Himachal Pradesh Government has launched the Mukhya Mantri Sukh Sikhsha Yojana with an allocation of Rs 53.21 crores. This initiative aims to improve the quality of education in the state, ensuring better learning environments for students. The scheme is expected to provide enhanced educational resources, infrastructure development, and support for teachers. With this allocation, the government intends to uplift the education sector, focusing on holistic development and equal opportunities for all students across the state.
Focuses on digital learning tools and modern classrooms to bridge the rural-urban education gap in Himachal Pradesh.
Targets underprivileged students by offering scholarships and financial aid for higher education opportunities.
__________________________________________
Cabinet approves Vigyan Dhara scheme to promote S&T capacity building, research, innovation.
The Union Cabinet has approved the Vigyan Dhara scheme, aimed at boosting science and technology (S&T) capacity building, research, and innovation in India. This initiative is designed to enhance the country’s S&T infrastructure and foster a culture of research and development. The scheme will provide support for various S&T projects, promote collaboration between institutions, and encourage innovative solutions to address key challenges. By focusing on strengthening the S&T ecosystem, the Vigyan Dhara scheme seeks to position India as a global leader in scientific research and technological advancements.
The scheme will also facilitate funding for cutting-edge technologies and support startups in the S&T sector.
It aims to enhance skill development programs to build a skilled workforce for future scientific and technological advancements.
__________________________________________
Ministry of Labour & Employment (MoL&E) Launches Building and Other Construction Workers' (BoCW) Management System (MS) Portal.
The Ministry of Labour & Employment has introduced the Building and Other Construction Workers' (BoCW) Management System (MS) Portal to streamline the registration and welfare processes for construction workers. This new digital platform aims to simplify the documentation process, enhance transparency, and improve the delivery of benefits and services to workers in the construction sector. The portal will help in maintaining accurate records, facilitating easy access to welfare schemes, and ensuring timely assistance for workers. This initiative is expected to boost efficiency and support the well-being of millions of construction workers across the country.
The BoCW MS Portal enables online application submission, reducing the need for physical visits to offices.
The portal also provides a centralized platform for monitoring and reporting construction worker welfare activities.
__________________________________________
RBI Approves IndusInd Bank to Launch Mutual Fund Asset Management Business.
The Reserve Bank of India (RBI) has granted approval to IndusInd Bank to establish a mutual fund asset management business. This move marks a significant expansion for the bank, allowing it to diversify its financial services and offer investment solutions to its clients. The new venture will enable IndusInd Bank to manage and operate mutual fund schemes, providing investors with a range of options for wealth accumulation and financial planning. The approval is expected to enhance the bank's market presence and contribute to its growth strategy in the competitive financial sector.
IndusInd Bank aims to strengthen its portfolio with the introduction of innovative mutual fund schemes.
The new asset management business is expected to attract a diverse range of investors.
__________________________________________
LIC Housing Launches "Griha Rakshak" Home Loan Scheme for Armed Forces Personnel.
LIC Housing Finance Ltd. has launched the "Griha Rakshak" home loan scheme specifically designed for armed forces personnel. This initiative aims to provide financial assistance for purchasing or constructing a home. The scheme offers competitive interest rates, flexible repayment options, and benefits tailored to the unique needs of military personnel. LIC Housing recognizes the dedication and service of the armed forces and seeks to support them in achieving their homeownership dreams. The "Griha Rakshak" scheme is expected to empower soldiers and their families by making homeownership more accessible and affordable.
The "Griha Rakshak" scheme includes special interest rate discounts for women applicants in the armed forces.
The scheme offers a simplified application process to accommodate the unique circumstances of military personnel.
__________________________________________
Chief Minister Sukhwinder Singh Sukhu launched 'Mukhyamantri Bal Nutritious Food Scheme' for school children.
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has launched the Mukhyamantri Bal Paushik Aahar Yojna, a new nutritional scheme aimed at improving the health and well-being of school children in the state. This initiative will provide balanced and nutritious meals to students, ensuring they receive the necessary vitamins and minerals for their growth and development. The program targets underprivileged children and aims to combat malnutrition and support their educational performance. By implementing this scheme, the government hopes to promote better health outcomes and enhance the overall quality of education in Himachal Pradesh.
The scheme includes regular health check-ups to monitor the nutritional status of students.
Local school staff will assist in meal distribution and ensure compliance with nutritional standards.
__________________________________________
RBL Bank Launches 'Vijay Fixed Deposits' to Honor India's 78th Independence Day.
RBL Bank has introduced a special fixed deposit scheme called 'Vijay Fixed Deposits' to commemorate India's 78th Independence Day. This new scheme offers attractive interest rates and flexible tenure options, making it an ideal choice for investors seeking secure returns. The launch of 'Vijay Fixed Deposits' reflects RBL Bank's commitment to providing innovative financial solutions to its customers. The bank aims to encourage savings and financial growth through this initiative, aligning with the spirit of independence and self-reliance. Customers can avail of this scheme by visiting the nearest RBL Bank branch or through online banking.
Limited-time Offer: The 'Vijay Fixed Deposits' scheme is available for a limited period, encouraging prompt investment.
Customers opting for this scheme may receive additional rewards or bonuses based on their deposit amount.
__________________________________________
Hemant Soren Launches 'Mukhya Mantri Maiya Samman Yojana' Scheme for Women in Jharkhand.
Jharkhand Chief Minister Hemant Soren has launched the 'Mukhya Mantri Maiya Samman Yojana' to empower women in the state. The scheme aims to support economically disadvantaged women by providing financial assistance and various benefits. Under this initiative, eligible women will receive direct financial support, health benefits, and educational assistance. The program is designed to enhance women's socio-economic status and ensure their participation in the state's development. Soren emphasized the importance of women's empowerment in achieving inclusive growth and promised that the scheme would significantly benefit the women of Jharkhand.
The scheme targets low-income families to uplift women through comprehensive financial and social support.
Women beneficiaries will receive assistance for healthcare, education, and skills development to enhance their livelihoods.
__________________________________________
Maharashtra Government Announces Official Launch of Mukhyamantri Majhi Ladki Bahin Yojna.
The Maharashtra government has officially launched the Mukhyamantri Majhi Ladki Bahin Yojna. This new initiative aims to support and empower young women in the state. Under the scheme, eligible beneficiaries will receive various forms of assistance, including educational support, financial aid, and skill development programs. The government hopes that this scheme will improve opportunities for women, enhance their overall well-being, and contribute to their personal and professional growth. The announcement was made during a press conference where officials highlighted the program's goals and the positive impact it is expected to have on the lives of young women.
The scheme includes career counseling and job placement assistance to help women transition from education to employment.
Beneficiaries will receive mentorship from industry experts to enhance their skills and career prospects.
__________________________________________
UP CM Yogi Adityanath Announces Myuva Scheme to Empower Youth Entrepreneurs.
Uttar Pradesh Chief Minister Yogi Adityanath has launched the Myuva scheme aimed at empowering young entrepreneurs in the state. This initiative seeks to provide financial support, training, and resources to help youth establish and grow their businesses. The Myuva scheme is part of a broader effort to boost economic development and job creation in Uttar Pradesh. By focusing on entrepreneurship, the scheme intends to harness the potential of young people and stimulate innovation across various sectors. This move is expected to create numerous opportunities for the youth, enhancing their role in the state's economic progress.
The Myuva scheme will offer mentorship and networking opportunities for young entrepreneurs. It aims to foster sustainable business practices.
__________________________________________
Kiren Rijiju & George Kurian Launches Haj Application 2025 & Jiyo Parsi Scheme Portal.
Kiren Rijiju and George Kurian have introduced two significant initiatives: the Haj Application 2025 and the Jiyo Parsi Scheme Portal. The Haj Application 2025 aims to simplify the application process for pilgrims, improving efficiency and accessibility. The Jiyo Parsi Scheme Portal provides financial assistance to eligible Parsi couples through Direct Benefit Transfer (DBT), supporting community welfare. Both platforms reflect the government's commitment to enhancing support and services for these communities.
Mr. Rijiju announced that Muslim women aged 45+ can now perform Haj without a Mehram.
Mr. Rijiju urged eligible Parsi couples to use the Jiyo Parsi Scheme Portal, which offers financial assistance through Direct Benefit Transfer (DBT).
__________________________________________
Himachal Pradesh Launches HIM-UNNATI Scheme to Promote Natural Farming.
Himachal Pradesh (HP) has introduced the HIM-UNNATI scheme to encourage natural farming practices across the state. The full form of HIM-UNNATI is "Himachal Integrated Mission for Sustainable Agriculture and Natural Farming Initiatives." This initiative aims to promote eco-friendly agricultural techniques, reduce the dependence on chemical inputs, and enhance soil health. The scheme will provide financial assistance, technical support, and training to farmers adopting natural farming methods. By fostering sustainable agricultural practices, the program seeks to improve crop quality and farmer livelihoods while ensuring environmental conservation.
The scheme aims to enhance biodiversity by encouraging the use of traditional farming practices and organic inputs.
Farmers will receive subsidies for purchasing natural farming tools and equipment to support the transition.
__________________________________________
MNRE Issues Operational Guidelines for Model Solar Village Scheme Under PM Surya Ghar Muft Bijli Yojna.
The Ministry of New and Renewable Energy (MNRE) has released operational guidelines for the Model Solar Village Scheme under the PM Surya Ghar Muft Bijli Yojna. This initiative aims to promote solar energy usage in rural areas by setting up model solar villages. The guidelines outline the process for implementing solar projects, including eligibility criteria, funding mechanisms, and technical specifications. The scheme is expected to enhance the sustainability and energy security of rural communities by providing them with reliable and clean energy sources. This move is a significant step towards achieving India's renewable energy goals.
The scheme will facilitate the installation of solar panels in remote villages, improving energy access and reliability.
Beneficiaries will receive technical support and training to maintain solar systems, ensuring long-term operational efficiency.
__________________________________________
Assam CM Himanta Biswa Sarma Launches Mukhya Mantri Nijut Moina Asoni Scheme to Combat Child Marriage.
Assam Chief Minister Himanta Biswa Sarma has launched the "Mukhya Mantri Nijut Moina Asoni" scheme to combat child marriage in the state. This initiative aims to provide financial assistance and support to families who prevent their children from marrying before reaching legal adulthood. The scheme will offer incentives to those who ensure their children complete their education and delay marriage until the age of 18 for girls and 21 for boys. The move is part of a broader effort by the state government to tackle social issues and improve child welfare.
The scheme promotes education and awareness about the harmful effects of child marriages.
Local authorities will monitor and assist in implementing the scheme effectively.
__________________________________________
"RBI Extends Maturity Date Scheme for Kisan Credit Card (KCC) Agricultural Loans to FY25"
The Reserve Bank of India (RBI) has announced an extension of the Maturity Date Extension Scheme (MISS) for agricultural loans provided through the Kisan Credit Card (KCC) for the fiscal year 2025. This decision aims to provide additional support to farmers by allowing them more time to repay their loans. Under this scheme, the maturity dates of loans can be extended, helping farmers manage their financial commitments better, especially in challenging agricultural conditions. This move is expected to ease the financial burden on the farming community and improve their access to credit.
The extension aims to provide relief during unpredictable weather conditions affecting agricultural productivity.
Farmers can now access longer-term repayment plans under the KCC scheme for better financial stability.
__________________________________________
"RBI Extends Maturity Date Scheme for Kisan Credit Card (KCC) Agricultural Loans to FY25"
The Reserve Bank of India (RBI) has announced an extension of the Maturity Date Extension Scheme (MISS) for agricultural loans provided through the Kisan Credit Card (KCC) for the fiscal year 2025. This decision aims to provide additional support to farmers by allowing them more time to repay their loans. Under this scheme, the maturity dates of loans can be extended, helping farmers manage their financial commitments better, especially in challenging agricultural conditions. This move is expected to ease the financial burden on the farming community and improve their access to credit.
The extension aims to provide relief during unpredictable weather conditions affecting agricultural productivity.
Farmers can now access longer-term repayment plans under the KCC scheme for better financial stability.
__________________________________________
J&K Bank Launches "Kisan Ka Samman" to Empower Farmers in Jammu & Kashmir.
J&K Bank has introduced the "Kisan Ka Samman" scheme to support and empower farmers across Jammu & Kashmir. This initiative aims to provide financial assistance and resources to enhance agricultural productivity and improve the livelihood of farmers in the region. The scheme offers various benefits, including easy access to credit, low-interest loans, and insurance coverage. By launching this program, J&K Bank reaffirms its commitment to boosting the agricultural sector and ensuring the welfare of farmers, who are the backbone of the state's economy.
The "Kisan Ka Samman" scheme also includes specialized training programs for farmers to adopt modern agricultural practices and improve crop yields.
J&K Bank will collaborate with local agricultural institutions to ensure the successful implementation of the scheme and provide continuous support to farmers.
__________________________________________
Education Minister Launches NATS 2.0 and Disburses Rs. 100 Crore Stipends.
Union Minister for Education Dharmendra Pradhan today launched the National Apprenticeship and Training Scheme 2.0 Portal and disbursed 100 crore rupees stipends to apprentices through the DBT mode in New Delhi. These apprentices are undergoing training in various sectors Information Technology, manufacturing, automobile and among other. This initiative aligns with the Government’s focus on skilling and employability of youth.
NATS 2.0 integrates digital tools to streamline apprenticeship tracking and enhance learning outcomes.
The scheme aims to create stronger industry-academia partnerships, fostering better job opportunities for graduates.
__________________________________________
MSDE Revamps Model Skill Loan Scheme, Raises Limit to Rs 7.5 Lakh.
The Ministry of Skill Development and Entrepreneurship (MSDE) has revamped the Model Skill Loan Scheme to enhance accessibility and support for skill development. The revised scheme now raises the loan limit to Rs 7.5 lakh, up from the previous limit, making it more feasible for individuals seeking financial assistance for vocational training and skill enhancement. This change aims to facilitate greater access to quality skill training programs and support the government’s efforts to improve employability. The updated scheme is expected to benefit a larger number of candidates by providing more substantial financial support for their skill development needs.
The increased loan limit will cover more comprehensive skill training programs and related expenses.
The revamped scheme supports the government's goal of enhancing vocational skills and reducing unemployment rates.
__________________________________________
Andhra Pradesh Government Renames 6 Student Welfare Schemes After Notable Educators.
The Andhra Pradesh government has renamed six student welfare schemes to honor prominent educational pioneers. The initiative aims to celebrate the contributions of these influential figures in the field of education and to inspire students across the state. The schemes, previously known by generic names, will now bear the names of renowned educators who have made significant impacts on learning and teaching. This move reflects the government's commitment to acknowledging and preserving the legacy of educational leaders while enhancing the support provided to students.
The renaming aims to raise awareness about the impact of these educators on the educational system.
The renamed schemes are expected to boost student engagement and motivation by connecting with historical figures.
__________________________________________
RBI selects 5 entities under its regulatory sandbox scheme.
The Reserve Bank of India (RBI) has selected five entities for its regulatory sandbox scheme. This initiative allows these organizations to test their innovative financial products and services in a controlled environment under the RBI’s supervision. The selected entities will have the opportunity to evaluate their solutions' viability and compliance with regulatory requirements before a full-scale launch. This move aims to foster innovation in the financial sector while ensuring consumer protection and financial stability. The RBI's regulatory sandbox is a significant step towards modernizing the financial landscape and encouraging technological advancements in banking and finance.
The sandbox provides a safe environment to test innovative financial solutions before broader market implementation.
It encourages startups and fintech firms by offering regulatory flexibility and support during the testing phase.
__________________________________________
DGFT Simplifies Export Promotion Capital Goods Scheme for Enhanced Business Efficiency.
The Directorate General of Foreign Trade (DGFT) has announced a simplification of the Export Promotion Capital Goods (EPCG) Scheme to improve the ease of doing business in India. The revised procedures aim to streamline the process for importing capital goods used in export production, making it more efficient and less cumbersome for businesses. This initiative is expected to reduce bureaucratic hurdles and expedite the approval process, thereby encouraging more firms to invest in advanced machinery and technology. The move aligns with the government’s broader objective of enhancing India’s business environment and boosting economic growth.
Simplified procedures aim to reduce delays and costs associated with importing capital goods for export production.
The changes are expected to attract more investments in advanced technology, enhancing overall industrial productivity.
__________________________________________
Govt extends Electric Mobility scheme, increases outlay to Rs 778 crore.
The Indian government has extended its Electric Mobility scheme and increased the funding allocation to ₹778 crore. This extension aims to promote the adoption of electric vehicles (EVs) and support the development of EV infrastructure across the country. The enhanced budget will be used to subsidize EV purchases, improve charging infrastructure, and incentivize manufacturing and innovation in the electric vehicle sector. This move is part of the government's broader strategy to reduce carbon emissions, combat climate change, and transition towards more sustainable transportation solutions.
The scheme extension will support local EV manufacturers and encourage research in battery technology.
Increased funding aims to make electric vehicles more affordable for consumers.
__________________________________________
Telangana CM launches ₹1 lakh aid for Civil Services prelims qualifiers.
Telangana Chief Minister A. Revanth Reddy launched a unique programme to provide financial assistance to the Civil Services aspirants from Telangana, under which the candidates who qualify for the Mains exams will be provided with ₹1 lakh for preparation.Named “Rajiv Gandhi Civils Abhayahastam”, the scheme will be helpful to about 400 candidates from Telangana region who qualify for the Mains every year.
The scheme aims to ease financial burdens for civil service aspirants, boosting their preparation and success rates.
Candidates from Telangana qualifying for Mains will receive monetary support to enhance their study resources and preparation.
__________________________________________
Gujarat To Provide Rented Accommodation To Construction Workers For Rs 5 Per Day.
On Thursday, Gujarat Chief Minister Bhupendra Patel launched the 'Shramik Basera' scheme, aimed at providing temporary accommodation to nearly 15,000 construction workers at a nominal rate of Rs 5 per day. The Chief Minister performed the ground-breaking ceremony for 17 new dwelling structures in Ahmedabad, Gandhinagar, Vadodara, and Rajkot. This initiative is expected to support workers with affordable housing and improve their living conditions, as stated in an official release.
The scheme aims to improve living standards for construction workers by offering affordable housing options.
The initiative will help ease accommodation challenges faced by workers in major Gujarat cities.
__________________________________________
UP Introduces Upvan Yojna and Heritage Tree Adoption to Improve Green Cover.
The Uttar Pradesh government has launched two new initiatives to enhance green cover in urban areas. The "Upvan Yojna" aims to increase greenery through extensive tree planting and the development of parks. Additionally, the "Heritage Tree Adoption Scheme" encourages citizens to adopt and care for historic trees, preserving their ecological and cultural value. These programs are designed to improve air quality, beautify cities, and promote environmental sustainability. The government's efforts underscore its commitment to creating a greener and healthier living environment for urban residents.
The Upvan Yojna focuses on creating more green spaces in cities for enhanced urban aesthetics and environment.
The Heritage Tree Adoption Scheme promotes community involvement in maintaining and preserving historic trees for future generations.
__________________________________________
Haryana Cabinet Approves IT Saksham Yuva Scheme for 5,000 Jobs.
The scheme has been designed in accordance with the ‘Mission 60,000’ announced while presenting the 2024-25 budget proposals aiming to give employment to at least 60,000 young individuals from poor families. The Haryana Cabinet on Friday gave nod to launch the IT Saksham Yuva Scheme, 2024, the target of which is to give jobs to 5,000 youths in the first phase.
The IT Saksham Yuva Scheme is part of a broader plan to enhance employment opportunities for underprivileged youth.
The scheme aims to support young individuals from poor families with job placements in the IT sector.
__________________________________________
Maharashtra CM Launches ‘Ladka Bhau’ Job Training Scheme.
Maharashtra Chief Minister Eknath Shinde announced a job training and stipend scheme for youth, tentatively named ‘Ladka Bhau’ Yojana, days after it introduced a monthly financial assistance scheme for eligible women. He declared broad features of the new scheme, primarily targeting men, at Pandharpur in Solapur district on the occasion of Ashadhi Ekadashi.
The ‘Ladka Bhau’ scheme aims to provide job training and financial support specifically targeting young men.
The announcement was made during the Ashadhi Ekadashi festival in Pandharpur, highlighting the scheme’s significance.
__________________________________________
Bank of Baroda, BoM launch deposit schemes to fund credit demand.
BoB said its special scheme dubbed “the bob Monsoon Dhamaka Deposit Scheme” comes with two tenor buckets — offering interest rates of 7.25 per cent per annum for 399 days and 7.15 per cent per annum for 333 days. The scheme opened on Monday and it would be for retail deposits below Rs 3 crore. Senior citizens will earn an additional interest rate of 0.50 per cent for both buckets. Further, Non-Callable Deposits will get 0.15 per cent extra, BoB said.
The deposit scheme is available only for retail deposits and not for corporate or institutional accounts.
Special rates apply to both senior citizens and non-callable deposits, enhancing returns for these categories.
__________________________________________
Shri Jayant Chaudhary attends Kaushal Samwaad on World Youth Skills Day 2024.
Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE), Shri Jayant Chaudhary, attended an open house, "Kaushal Samwaad", to celebrate World Youth Skills Day, which is recognised globally by the United Nations. He also interacted with professionals, trained on various skills through different Skill India schemes and programs and their trainers during the event. The day also commemorated the 10th-year celebrations of the Skill India Mission.
The event highlighted the impact of skill development in empowering youth and fostering economic growth.
Shri Jayant Chaudhary emphasized the role of continuous learning in shaping a skilled and competitive workforce.
__________________________________________
Shri Jayant Chaudhary attends Kaushal Samwaad on World Youth Skills Day 2024.
Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE), Shri Jayant Chaudhary, attended an open house, "Kaushal Samwaad", to celebrate World Youth Skills Day, which is recognised globally by the United Nations. He also interacted with professionals, trained on various skills through different Skill India schemes and programs and their trainers during the event. The day also commemorated the 10th-year celebrations of the Skill India Mission. Shri Chaudhary and Shri Atul Kumar Tiwari, Secretary, MSDE, also planted a tree on the Kaushal Bhawan premises, symbolizing growth and the nurturing of talent.
Shri Jayant Chaudhary emphasized the importance of vocational skills in enhancing India's economic growth and development.
The event highlighted successful stories of Skill India beneficiaries, motivating youth towards skill-based careers.
__________________________________________
Goi caps interest equalisation at Rs 1.66 crore per IEC for July-August 2024.
The Government of India has announced a cap of Rs 1.66 crore per Importer Exporter Code (IEC) under the Interest Equalisation Scheme for July-August 2024. This scheme aims to support exporters by subsidizing interest rates on loans. By limiting the subsidy amount, the government seeks to manage fiscal resources effectively while continuing to facilitate export growth. The decision comes amidst efforts to boost India's exports and enhance competitiveness in global markets.
This move aims to streamline subsidies and ensure targeted support for exporters during economic challenges. The decision reflects efforts to balance fiscal prudence with export promotion objectives.
__________________________________________
Bajaj Finserv AMC launches fixed income plan for retail investors.
Bajaj Finserv Asset Management has launched Bajaj Finserv Savings+ which provides retail investors an avenue to manage their idle money in savings account. The scheme allows investors to seamlessly invest in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund offering competitive returns and the convenience of liquidity.In comparison to traditional Savings Accounts, Liquid Funds have delivered 7.17 per cent return between last July to June, 2024.
Bajaj Finserv Savings+ offers flexibility with instant redemption and competitive interest rates for retail investors.
The plan ensures ease of transaction through digital platforms, enhancing investor convenience and accessibility.
__________________________________________
RBI expands Liberalised Remittance Scheme norms for investment via GIFT IFSC.
The Reserve Bank of India (RBI) has widened the scope of the Liberalised Remittance Scheme (LRS) to include investments through the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC). This move allows Indian residents to invest in permitted securities in IFSCs under the LRS, providing more avenues for international investments through this financial hub.
The RBI aims to facilitate greater international investment opportunities for Indian residents by leveraging the infrastructure and regulatory framework of the GIFT IFSC.
Indian investors can now diversify their portfolios with a wider range of financial products and services available within the IFSC ecosystem.
__________________________________________
Maharashtra 's Chief Minister Majhi Ladki Bahin Yojana will provide support of ₹ 1,500 per month.
In a move aimed at empowering women, Maharashtra Deputy Chief Minister and NCP chief Ajit Pawar announced the launch of the 'Mukhyamantri Majhi Ladki Bahin' (CM My Beloved Sister) scheme.This initiative, unveiled during the presentation of the state Budget at the Maharashtra Assembly, will provide all women aged between 21 and 60 years in the state with a monthly allowance of ₹1,500 starting from July 2024.
Aimed at economic empowerment, the scheme benefits women aged 21-60 with ₹1,500 monthly support starting July 2024.
Maharashtra's Deputy CM Ajit Pawar launched 'Mukhyamantri Majhi Ladki Bahin' scheme for women's empowerment in Budget 2024.
__________________________________________
DRDO Sanctions 7 New Projects Under Tech Development Fund.
Providing impetus to Aatmanirbharta, Defence Research & Development Organisation (DRDO) has awarded seven new projects to industries under the Technology Development Fund scheme for various requirements of the Armed Forces and aerospace & defence sectors. These project sanctions are a testimony to the continuing endeavour of DRDO in nurturing Industries, especially MSMEs & start-ups, in defence and aerospace domains. The indigenous development of these technologies will strengthen the military industrial ecosystem.
DRDO's initiatives enhance India's self-reliance, fostering growth in defence technology among MSMEs and start-ups.
New projects bolster the defence sector, ensuring cutting-edge advancements for armed forces' operational efficiency.
__________________________________________
Rajasthan Finance Minister Diya Kumari Presents State Budget for FY25.
Rajasthan's Finance Minister Diya Kumari presented the state budget for fiscal year 2025, emphasizing healthcare, education, agriculture, and infrastructure. The budget boosts healthcare and education funding, enhances agriculture through irrigation and modernization, and plans urban connectivity improvements. It prioritizes welfare schemes for marginalized groups and aims to stimulate economic growth and employment statewide.
The budget also focuses on environmental sustainability through renewable energy and conservation initiatives.
Measures for digital infrastructure enhancement and IT sector growth are integral parts of the budget.
__________________________________________
Raksha Rajya Mantri Shri Sanjay Seth Launches GRSE Accelerated Innovation Nurturing Scheme (GAINS 2024).
Raksha Rajya Mantri Shri Sanjay Seth launched “GRSE Accelerated Innovation Nurturing Scheme (GAINS 2024) of Garden Reach Shipbuilders & Engineers Limited ( GRSE) in Kolkata on July 10, 2024. It is an innovative scheme which seeks solution to the problems related to the shipyards and promotes technology development using the start-ups created and nurtured in the country. It encourages and enables MSMEs and Start-Ups to develop innovative solutions for further technological advancement.
GAINS 2024 aims to foster collaboration between MSMEs, startups, and GRSE for rapid technological innovations.
The scheme encourages adaptive solutions to enhance efficiency and competitiveness in shipbuilding and engineering sectors.
__________________________________________
MoRD and MoMSME Forge Alliance to Boost SHG Women-Led Rural Enterprises.
The Union Ministry of Rural Development (MoRD) and Union Ministry of Micro, Small and Medium Enterprises (MoMSME), today in the spirit of a whole-of-government approach, signed a Statement of Intent (SoI) to collaborate on formalizing and strengthening Self Help Group (SHG) women-led rural enterprises through MoMSME's flagship schemes.
MoRD and MoMSME collaborate to empower women-led rural enterprises via flagship schemes.
MoRD and MoMSME collaborate to empower women-led rural enterprises through flagship schemes.
__________________________________________
NABARD Integrates Jan Suraksha Schemes Across 43 RRBs with Online PSB Loans.
National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Ltd. have signed a Memorandum of Understanding (MoU) to smoothen the enrolment and claim settlement processes under the Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs).
NABARD and Online PSB Loans streamline Jan Suraksha across RRBs.
NABARD and Online PSB Loans MoU enhances rural insurance accessibility.
__________________________________________
Andhra CM launches NTR Bharosa pension.
Chief Minister N. Chandrababu Naidu launched the distribution of social security pensions amounting to ₹4,408 crore under NTR Bharosa Pension Scheme on July 1. Each beneficiary was given ₹7,000, including July month’s pension of ₹4,000.
Mr. Naidu called it the beginning of a fresh chapter in welfare. The YSR Congress Party (YSRCP) had made people’s lives miserable and caused a lot of trouble to the pensioners, he said.
The YSRCP government destroyed Brand AP, as a consequence of which entrepreneurs were scared to invest in the State.
__________________________________________
MoD Signs MoU for Testing Facilities in Tamil Nadu Defence Corridor.
MoD has signed an MoU to establish advanced testing facilities in Chennai under Tamil Nadu's Defence Corridor. These facilities, focused on Unmanned Aerial System, Electronic Warfare, and Electro Optics, aim to enhance indigenous defence capabilities. The agreement was formalized under the Defence Testing Infrastructure Scheme on July 2, 2024, in New Delhi.
The DTIS provides up to 75% government funding as ‘Grant-in-Aid’, with the remaining 25% funded by the Special Purpose Vehicle (SPVs), comprising Indian private entities and State/Central Governments.
These facilities will provide advanced testing equipment and services to bolster self-reliance in defence for both government and private sectors.
__________________________________________
Government keeps small savings schemes' rates steady for Q2FY25.
The Finance Ministry has announced that the interest rates on various small savings schemes for the second quarter of FY 2024-25, spanning from July 1, 2024, to September 30, 2024, will remain unchanged from those set in the first quarter (March 1, 2024, to June 30, 2024). This decision, outlined in a recent notification, ensures continuity in the prevailing rates for schemes such as savings accounts, fixed deposits, and other small savings instruments.
Interest rates on small savings schemes unchanged for Q2FY25.
__________________________________________
SEBI Raises Basic Demat Account Limit to Rs 10 Lakh to Boost Participation.
SEBI, the Securities and Exchange Board of India, has increased the limit for Basic Services Demat Accounts (BSDA) from Rs 2 lakh to Rs 10 lakh. This move aims to encourage wider participation in the securities market by reducing the cost of maintaining demat accounts for retail investors. The BSDA scheme offers reduced charges for small investors, making it more accessible for them to invest in stocks and other securities.
Eligibility for BSDA: Single demat account, one BSDA, securities ≤ Rs 10 lakh.BSDA holders are ineligible if they trade derivatives.
__________________________________________
India & Gambia Signed Extension of MoU on Governance Reforms for 5 Years.
The original MoU, signed on July 8, 2021, laid the foundation for a three-year partnership aimed at improving governance practices in both countries. The extension signifies a continued commitment to this collaboration, underscoring the shared goal of promoting transparency, accountability, and efficiency in public administration. The MoU focuses on the exchange and implementation of best practices in administrative reforms through various initiatives, including good governance webinars, research publications, and capacity-building programs. Key areas of cooperation include improving performance management systems in government, implementing contributory pension schemes, and advancing e-recruitment processes.
This partnership aims to drive significant improvements in public service delivery in both countries, leveraging the strengths and experiences of each other to achieve more effective and efficient governance.
__________________________________________
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.
__________________________________________
Assam Launches 'Mukhya Mantri Nijut Moina' Scheme to Promote Girl Education.
Assam chief minister Himanta Biswa Sarma said that in a push to increase enrolment of girl students in higher education, the Cabinet has accorded approval to provide financial assistance to girl students under the Mukhya Mantri Nijut Moina scheme to be offered as Admission Assistance. Girl students enrolled in Higher Secondary, Degree First Year and PG First Year of Government and Venture Schools, Colleges and Universities irrespective of their economic status is eligible for this scheme. The chief minister added, “From this academic year, both Boys and Girls who score more than 75% marks will receive 10,000 as a one-time financial grant under the Anundoram Borooah Scheme. From next academic year, scooters will be distributed to both boy and girl students who secure more than 75% marks.
The scheme is expected to cover around one million girl students and cost the exchequer Rs.300 crore in the first year and around Rs.1,500 crore over a five-year period.
__________________________________________
Motilal Oswal AMC Introduced Nifty India Defence index. India's Index Fund Investing in Defence Stocks.
Motilal Oswal Mutual Fund is set to introduce the Motilal Oswal Nifty India Defence Index Fund, an open-ended fund designed to mirror the total returns of the Nifty India Defence Index. The new fund offer (NFO) for this scheme will be open for subscription from June 13 until June 24. The fund's investment objective is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the Nifty India Defence Total Return Index, subject to tracking error. Its performance will be measured against the Nifty India Defence Total Return Index and will be overseen by Swapnil Mayekar and Rakesh Shetty.
The Motilal Oswal Nifty India Defence Index Fund requires a minimum application amount of Rs 500, with subsequent investments allowed in multiples of Re 1.
This scheme caters to investors aiming for returns aligned with the performance of the Nifty India Defence Total Return Index, with consideration for tracking error, and those pursuing long-term capital growth.\
__________________________________________
Global carbon pricing revenues reached record USD 104 billion in 2023, milestone in climate action:WB Report
A World Bank report reveals that countries with carbon pricing mechanisms generated a record $104 billion in revenues last year. Over half of the funds were directed towards climate and nature-related programs. Carbon pricing, implemented through carbon taxes or emissions trading systems (ETS), is critical for reducing emissions and fostering low-emission growth. Despite this achievement, the report emphasizes that current carbon taxes and emissions trading schemes remain insufficient to meet the Paris Agreement’s climate goals. Although 24% of global emissions are covered by some form of carbon pricing, less than 1% are subject to prices high enough to limit temperature increases to below 2°C.
The High-Level Commission on Carbon Prices recommended carbon prices be in the $50-100 per ton range by 2030. Adjusted for inflation, this range is now $63-127 per ton.
Over the past year, the adoption of carbon pricing has been limited, but there are promising signs of uptake in middle-income nations.
__________________________________________
IFC Extends US$500 Million to HDFC Bank to Ramp Up Microloans to Underserved Women Borrowers in India.
Women, especially microloan borrowers in semi-urban and rural areas, will have increased access to finance with IFC financing of up to US$500 million to HDFC Bank—the largest private sector bank in India—aiming to support lending for income generation purposes, fostering financial inclusion and socio-economic growth in the country.The Bank, with a long-standing history of lending to women, will use IFC’s financing for on-lending as microloans to Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) enrolled in the Sustainable Livelihoods Initiative (SLI). SLI is the Bank’s business line responsible for microfinance lending programs exclusively for women borrowers. IFC’s loan will further enable the Bank to grow its microcredit and microlending to women, especially allowing SHG and JLG borrowers to graduate to individual lending schemes.
HDFC Bank emphasizes its commitment to empowering women through targeted lending to Self-Help Groups (SHGs) and Joint Liability Groups (JLGs), aiming to extend banking services to underbanked and unbanked populations.
These financial entities collectively serve approximately 47 million clients with a combined gross loan portfolio of US$31.6 billion as of December 31, 2023.
Non-banking financial entities, including microfinance institutions (MFIs) and small finance banks, play a significant role in lending to women for income generation, representing about 65.7% of total microfinance lending in India.
__________________________________________
SBI Mutual Fund launches SBI Automotive Opportunities Fund.
SBI Automotive Opportunities Fund: The minimum application for lumpsum is ₹5,000, and for SIP, it is ₹500.SBI Automotive Opportunities Fund is a thematic mutual fund that aims to generate long-term capital appreciation for unit holders by investing in a portfolio of companies engaged in automotive and allied activities. The scheme opened for subscription on May 17 and will close on May 31.
The fund's investment scope encompasses various sectors, including original equipment manufacturers (OEMs), auto component manufacturers, electric mobility, and companies with auto export potential.
Company classification within the automotive and allied industries will primarily follow the guidelines set by the Association of Mutual Funds in India (AMFI) for basic industry classification.
__________________________________________
SEBI tweaksNISM certification requirement for AIF investment manager.
The Sebi circular says at least one key personnel should obtain relevant certification from the National Institute of Securities Market by passing the Alternative Investment Fund Managers Certification Examination.Markets regulator Securities and Exchange Board of India (Sebi) has recently tweaked regulations, making it mandatory for at least one key personnel within the investment team of the manager of an Alternative Investment Fund (AIF) to have the relevant certification.As per a Sebi circular dated May 13, the investment team of the manager of an AIF should have at least one key personnel with relevant certification from the National Institute of Securities Market (NISM). This is an eligibility criterion for obtaining certification of registration as an AIF. The requirement needs to be complied with on or before May 9, 2025, for a) existing schemes of AIFs, schemes of AIFs, and b) schemes of AIFs whose application for launch of scheme pending with Sebi as on May 10, 2024.
Sebi Regulation Amendment: Sebi has made it mandatory for at least one key personnel within the investment team of an Alternative Investment Fund (AIF) manager to obtain relevant certification from the National Institute of Securities Market (NISM).
Circular Details: The circular, dated May 13, specifies that this certification is an eligibility criterion for AIF registration and must be fulfilled by May 9, 2025, for existing and pending schemes.
Enhanced Eligibility Requirement: This amendment aims to enhance professionalism and expertise within AIF management teams, ensuring better compliance and competence in the alternative investment space.
__________________________________________
India's first multi-asset allocation mutual fund with dividend yield strategy launched :Bajaj Finserv Multi Asset Allocation Fund.
Bajaj Finserv Asset Management Company (Bajaj Finserv AMC) on Monday (May 13) launched Bajaj Finserv Multi Asset Allocation Fund. This scheme is the nation's first multi-asset fund with a dividend yield strategy.The new fund offer (NFO) for the scheme will remain open until May 27.Following this, it will be available for subscription until or before June 6, 2024.The mutual fund house noted that dividend is due only when declared and there is no assurance that a company may continue paying dividend in future.The scheme is vulnerable to instances where investments in securities may not earn dividend or where lesser dividend is declared by a company in subsequent years in which investments are made by scheme, Bajaj Finserv Mutual Fund said.The Bajaj Finserv Multi Asset Allocation Fund offers a diversified portfolio across various asset classes, including equities, fixed income instruments, commodities such as gold and silver ETFs, and REITs/InvITs.With an equity allocation ranging from 35-80%, the fund employs a multi-theme, multi-sector, and multi-cap approach to investment.
NFO open until May 27, subscription available until June 6, 2024.
Dividend dependent on declaration, no future assurance.
Diversified portfolio including equities, fixed income, commodities, REITs/InvITs.
__________________________________________
Bank of India Signs MOU with Indian Coast Guard for BOI Rakshak Package.
Bank of India, one of the leading public sector banks, reinforced its commitment to the Defence Sector by signing an MOU with the Indian Coast Guard, offering a Defence service Salary Package with best-in-class features under its “BOI Rakshak Salary/ Pension Savings Scheme”.The Signing Ceremony was held on 9th May 2024 at the Coast Guard Headquarters, New Delhi with the Indian Coast Guard represented by Shri Narendra Singh, Deputy Inspector General & Principal Director (Administration) and Bank of India was represented by Shri Sharda Bhushan Rai, Chief General Manager Head Office (Resource/ Marketing/ GBD) Mumbai, Shri Lokesh Krishna, General Manager FGMO New Delhi and Shri Ajay Kumar Panth, Deputy General Manager, Government Business Department.Through this exclusive BOI Rakshak Package, Bank of India will offer numerous benefits to all Ranks of the Indian Coast Guard, Veterans, Recruits and Agniveers including Personal Accidental Insurance coverage upto 150 Lakhs, Permanent Total Disability cover upto Rs 50 Lakhs, Air Accidental Cover upto Rs 100 Lakhs and Permanent Partial Disability Cover of Rs 25 Lakhs. Apart from this the Bank will also offer Concessions in Retail Loans, Processing Charges and Locker Rentals.
Bank of India strengthens its commitment to the Defence Sector by signing an MOU with the Indian Coast Guard.
The "BOI Rakshak Salary/ Pension Savings Scheme" offers best-in-class features to Indian Coast Guard personnel, veterans, recruits, and Agniveers.
Benefits include personal accidental insurance coverage, disability cover, air accidental cover, and concessions in retail loans and processing charges.
__________________________________________
Mirae Asset Mutual Fund (AMF) launched Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF, an open-ended scheme replicating and tracking the Nifty MidSmallcap400 Momentum Quality 100 Total Return index.
Mirae Asset Mutual Fund (AMF) launched Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF, an open-ended scheme replicating and tracking the Nifty MidSmallcap400 Momentum Quality 100 Total Return index. The product is India's first mutual fund scheme in the ‘mid and smallcap’ category where the underlying portfolio will consist of 50 midcap and smallcap stocks each. The fund house has picked the 100 stocks (50 each from midcap and smallcap segments) from based on a host of factors including quality and momentum. The MF scheme aims to offer investors exposure to high-growth potential companies within the mid and small-cap segments of the market. The new fund offer (NFO) for Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF will open for subscription on 6 May 2024, and close on 17 May 2024.
The Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF fund of funds will open for subscription on 10 May 2024, and close on 24 May 2024.
Both schemes, the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF and the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF FOF, will be available at a minimum investment of Rs 5,000 (subsequent investments in multiples of Re 1 thereof).
__________________________________________
SEBI has approved amendments to its mutual fund regulations aimed at establishing an institutional mechanism to curb front-running and fraudulent transactions.
SEBI has approved amendments to its mutual fund regulations aimed at establishing an institutional mechanism to curb front-running and fraudulent transactions. SEBI floated a consultation paper in this regard in May 2023 after noticing a significant spike in the number of front-running and insider trading activities. Front-running refers to trading in a stock or any other financial asset while having insider knowledge of a future transaction. The regulator also approved streamlining of prudential rules for passive mutual fund schemes regarding exposure to the securities of group companies. Currently, mutual fund schemes are not allowed to invest more than 25% of their net asset value in a sponsor’s group companies. This restricts passive funds to effectively replicate the underlying index in cases where the group companies of a sponsor comprise more than 25% in an index.
In February 2023, Sebi restrained the former chief dealer of Axis Mutual Fund, Viresh Joshi, and 20 other individuals from accessing the securities markets in a case of alleged front-running of the trades of Axis Mutual Fund.
__________________________________________
As per ADB' report titled 'Aging Well In Asia', India having the lowest health insurance coverage among older people at 21 percent.
As per ADB report, India is one of the lowest health insurance coverage among the Asia Pacific nations for older people. While the South Korea and Thailand have achieved universal health coverage, others lag behind with India having the lowest health insurance coverage among older people at 21 percent, a report titled 'Aging Well In Asia' prepared by ADB said. However, schemes like Ayushman Bharat that provides cashless healthcare to bottom quartile of population has improved health coverage since its launch. Expanding it further will improve the condition and make people aged over 60 years more productive for the economy, adding, silver dividend can be higher for such countries who gainfully employ them. The economic growth impact due to ageing population during 2031-40 would be lower in the case of India as it would still have high young population.
The number of people aged 60 and older in developing Asia and the Pacific is set to nearly double by 2050 to 1.2 billion.
__________________________________________
RBI announced an 8 percent interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) for the half year 30 April 2024 to 29 October 2024.
On 29 April 2024, The Reserve Bank of India (RBI) announced an 8 percent interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) for the half year 30 April 2024 to 29 October 2024. FRB 2034 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e, April 30, 2024) of 182 Day T-Bills, plus a fixed spread (0.98 percent). It is linked to the interest rate of the National Savings Certificate (NSC), a small savings scheme backed by the Union government. The interest rate of RBI Floating Rate Savings Bonds is 0.35% higher than what NSC offers. Now, NSC offers an interest rate of 7.7% for the April-June quarter. Going by the set formula, RBI Floating Rate Savings Bond 2020 (Taxable) will continue to fetch a high interest rate of 8.05% from July 1, 2024, for the next six months.
The Government of India is issuing a special type of bond called a Floating Rate Bond (FRB) that matures in 2034.
FRBs have a maturity period of seven years.
__________________________________________
Ayushman Bharat Diwas is celebrated annually on 30 April in India to raise awareness of the objectives of the government's Ayushman Bharat Yojana.
Ayushman Bharat Diwas is celebrated annually on 30 April in India to raise awareness of the objectives of the government's Ayushman Bharat Yojana. The Pradhan Mantri Jan Arogya Yojana (PMJAY) is also known as the Ayushman Bharat Yojana. It is a healthcare scheme launched by the Indian government to provide affordable and accessible healthcare to about 50 crore people who are economically disadvantaged. The Ayushman Bharat Yojana (PM-JAY) is a healthcare scheme launched by Prime Minister Narendra Modi in 2018. Under this scheme, free health insurance of Rs 5 lakh is provided to more than 10.74 crore poor and vulnerable families every year under the PM-JAY scheme.
__________________________________________
Securities and Exchange Board of India (SEBI) allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector.
Securities and Exchange Board of India (SEBI) allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector. The regulator has also provided additional flexibility to AIFs and their investors to deal with unliquidated investments of their schemes. Category I and Category II AIFs may create an encumbrance on equity of investee company, which is in the business of development, operation or management of projects in any of the infrastructure sub-sectors. SEBI existing schemes of category I and category II AIFs who have not on-boarded any investors prior to April 25, 2024, may create an encumbrance on the equity of the investee company for the purpose of borrowing of the investee company. During the liquidation phase of a scheme, an AIF can give unsold investments to investors or go into dissolution, but it needs approval from at least 75 percent of investors by value. Before getting investor consent, the AIF/manager must arrange bids for at least 25 percent of the unliquidated investments' value.
The regulator has decided to provide a one-time flexibility to schemes of AIFs whose liquidation period has expired or will expire by 24 July 2024.
Such schemes will get a new liquidation period until April 24, 2025.
__________________________________________
Groww Mutual Fund has received the approval from the Securities and Exchange Board of India (SEBI) to introduce India's 1st Nifty Non-Cyclical Consumer Index Fund.
Groww Mutual Fund has received the approval from the Securities and Exchange Board of India (SEBI) to introduce India's 1st Nifty Non-Cyclical Consumer Index Fund. The fund will operate as an open-ended scheme, closely mirroring the performance of the Nifty Non-Cyclical Consumer Index-TRI (Total Return Index). By tracking this index, the fund aims to attain long-term capital growth by strategically investing in securities that constitute the Nifty Non-Cyclical Consumer Index (TRI). The minimum investment amount will be Rs500 and in multiples of Re 1 for purchases and of Re 0.01 for switches. For SIP, the minimum amount is Rs1,200 (subject to a minimum of 12 SIP instalments of Rs100 each for monthly instalments and Rs300 for quarterly instalments). The minimum redemption amount for all plans will be Rs500 and in multiples of Re 1.
The scheme will offer both regular and direct plans along with growth and IDCW options.
The scheme will invest 95-100% in equities and equity-related securities of companies engaged in or expected to benefit from consumption and consumption-related activities and 0-5% in debt.
__________________________________________
Indian Bank has partnered with Tata Power Solar Systems Ltd (TPSSL) to empower residential consumers by providing them with financial support for solar installations.
Indian Bank has partnered with Tata Power Solar Systems Ltd (TPSSL) to empower residential consumers by providing them with financial support for solar installations. Under the alliance, Indian Bank will extend financial assistance to residential consumers under the PM Surya Ghar Muft Bijli Yojana scheme. The scheme offers support for installations up to 3 KW and extends further assistance for installations ranging from 3 to 10 KW under the regular scheme. Residential consumers can avail loans up to ₹2 lakh at an annual interest rate of 7 percent, with a nominal margin money requirement of 10 per cent and collateral-free financing. The repayment tenure is set at 10 years, ensuring convenience and flexibility for consumers. Interest rates ranging from 8.4 percent to 10.8 percent per annum ensure competitive financing options.
__________________________________________
Linking of the Ayushman Bharat Health Account (ABHA) number with the Central Government Health Scheme (CGHS) Beneficiary ID has been extended for 120 days or four months from 30 June 2024.
Linking of the Ayushman Bharat Health Account (ABHA) number with the Central Government Health Scheme (CGHS) Beneficiary ID has been extended for 120 days or four months from 30 June 2024. To better assist CGHS beneficiaries, the government said in a statement that kiosks would be made operational at all wellness centres by June 30. The government was aiming to allocate ABHA ID and benefits for all Indians at every health facility. The ministry came up with the statement to clarify "misinformation" in the healthcare sphere around the recent move to link the CGHS Beneficiary ID to the ABHA number. ABHA is a unique health ID based purely on Aadhaar. The need for ABHA (separate health ID) arose because one cannot save or store an Aadhaar on any system without implementing an Aadhaar vault and other security systems.
__________________________________________
SIDBI signed a MOU With Jeevika Bihar & UMED Maharashtra To Extend Prayaas Scheme To State Rural Livelihood Missions.
Small Industries Development Bank of India (SIDBI) in association with Women’s World Banking (WWB) signed an MoU with Jeevika, Bihar State Rural Livelihoods Mission (SRLM) & UMED, Maharashtra-SRLM to extend Prayaas scheme to SHG Individual Women through Cluster Level Federations (CLF). This partnership will help in unlocking the potential of Cluster Level Federations and will establish a new and scalable credit distribution ecosystem. SIDBI in the pilot phase will partner 35-40 CLFs across Bihar and Maharashtra with a target of serving affordable credit of up to `2 lakhs to 5,000 Women Entrepreneurs. It is supported by a grant from MetLife Foundation as part of its commitment to fostering inclusive economic mobility for underserved and underrepresented communities.
__________________________________________
The Ministry of Law and Justice notified a six-member committee to address issues related to the queer community, the committee, to be headed by the Cabinet Secretary Rajiv Gauba.
The Ministry of Law and Justice notified a six-member committee to address issues related to the queer community, the committee, to be headed by the Cabinet Secretary Rajiv Gauba. The committee will suggest measures to ensure that the queer community does not encounter any discrimination in accessing goods and services, social welfare schemes, or face threat of violence among others. The government order noted that the Supreme Court judgment dated October 17, 2023, directed the Centre to constitute a committee to be chaired by the Cabinet Secretary to examine the various issues relating to queer community. The committee will be headed by the Cabinet secretary as chairperson and will include -Secretary, Department of Home; Secretary, Ministry of Women and Child Development; Secretary, Department of Health and Family Welfare; Secretary, Legislative Department; and Secretary, Department of Social Justice and Empowerment. The panel will examine measures that can be taken to ensure there is no discrimination against LGBTQ+ people in access to goods and services, and measures that can be taken to ensure that the LGBTQ+ community does not face any threat of violence, harassment or coercion.
__________________________________________
RECPDCL has handed over two project-specific SPVs namely 'Kallam Transco Limited' and 'Jalpura Khurja Power Transmission Limited', to Tata Power.
REC Power Development and Consultancy Limited (RECPDCL) has handed over two project-specific Special Purpose Vehicles (SPVs) namely 'Kallam Transco Limited' and 'Jalpura Khurja Power Transmission Limited' formed for implementation of two power transmission projects. An SPV Kallam Transco Limited has been formed for “Western Region Network Expansion Scheme in Kallam area of Maharashtra”, an Inter State Transmission Project of Ministry of Power, Government of India. The SPV has been handed over to M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium), the successful bidder. Jalpura Khurja Power Transmission Limited has been formed for “Construction of 400/220 kV, 2×500 MVA GIS substation Metro Depot with associated lines and 400/220 kV, 2×500 MVA GIS substation Jalpura”, an Intra-state project of Government of Uttar Pradesh. The SPV has been handed over to M/s The Tata Power Company Limited, the successful bidder.
REC Power Development and Consultancy Limited, RECPDCL, a wholly owned subsidiary of REC Limited, has been providing knowledge-based consultancy and expert project implementation services to more than 50 State power distribution companies and Power Departments of States.
__________________________________________
Tata Mutual Fund launched 6 thematic index funds.
Tata Mutual Fund launched 6 thematic index funds. The new index funds are Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. The new fund offers (NFO) for these schemes will be open from April 8 to April 22, 2024. The minimum investment during the NFO period is Rs 5,000. Among the six schemes, three are industry firsts: Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. The fund house has co-created the benchmarks with Nifty Indices, an index provider and subsidiary of the National Stock Exchange of India.
__________________________________________
Union Health Secretary Apurva Chandra launched the myCGHS app for Central Government Health Scheme (CGHS) beneficiaries.
Union Health Secretary Apurva Chandra launched the myCGHS app for the iOS ecosystem of devices, designed to enhance access to electronic health records, information, and resources for Central Government Health Scheme (CGHS) beneficiaries. Developed by the technical teams of the National Informatics Centre (NIC) Himachal Pradesh and NIC Health Team, myCGHS is a convenient mobile application offering features aimed at enhancing information and accessibility for CGHS beneficiaries. The myCGHS app facilitates a wide range of services, including: booking and cancellation of online appointments, downloading the CGHS card and index card, accessing lab reports from CGHS labs; checking medicine history, checking medical reimbursement claim status, accessing referral details, locating nearby wellness centres, etc. The app features security features like 2-factor authentication and the functionality of mPIN, ensuring the confidentiality and integrity of users’ data.
__________________________________________
Canara Bank launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure.
Canara Bank launched a slew of new products, including a loan scheme to meet shortfall of hospital expenditure. A healthcare-focused loan product called Canara Heal is aimed at meeting the shortfall of hospitalisation expenditure while settling through TPA healthcare insurance claims of self and/or dependents. The loan for meeting hospital expenses will be available at 11.55 percent per annum on a floating basis and 12.30 percent at fixed interest rate basis. The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney. The bank also unveiled 'Canara UPI 123PAY ASI', a user-friendly payment interface, and 'Canara HRMS Mobile App for Staff', an HR management solution for the bank's employees.
Canara Bank becomes the first bank to offer seamless doorstep digital services to self-help groups (SHGs) in collaboration with Reserve Bank Innovation Hub.
Digital SHG will help the customers to get instant digital credit in their accounts.
__________________________________________
Sheyphali B. Sharan has assumed charge as the Principal Director General of Press Information Bureau (PIB) upon superannuation of Manish Desai.
Sheyphali B. Sharan has assumed charge as the Principal Director General of Press Information Bureau (PIB) upon superannuation of Manish Desai. Ms. Sharan is an officer of the 1990 batch of Indian Information Service. During an illustrious career spanning over three decades, she has held cadre portfolios of largely looking after media publicity work as Press Information Bureau officer for Ministries such as Finance, Ministry of Health and Family Welfare, Ministry of Information and Broadcasting. She has also served as the Spokesperson for Election Commission of India. In addition, she has worked on Central Staffing Scheme Deputations as Director in Ministry of Health (Department of Traditional Systems of Medicine/AYUSH (2002-2007)) and Ministry of Finance (Department of Economic Affairs 2013-2017).
__________________________________________
The Quality Council of India (QCI) has signed a MoU with Laghu Udyog Bharati (LUB) to enhance awareness and participation in the MSME Competitive Lean Scheme (MCLS).
The Quality Council of India (QCI) has signed a MoU with Laghu Udyog Bharati (LUB) to enhance awareness and participation in the Micro, Small, and Medium Enterprises (MSME) Competitive Lean Scheme (MCLS) among the members of Laghu Udyog Bharati (LUB). The MoU outlines a roadmap for collaborative initiatives, including awareness programs, camps, and consultations at state and district levels, to facilitate the adoption of lean principles and sustainable practices under the scheme among the LUB members. To ensure smooth implementation, a designated nodal officer from each organization will act as a single point of contact for all MCLS-related matters.
__________________________________________
The Ministry of Health and Family Welfare (MoHFW) has issued a directive, effective from 1st April 2024, to link their Central Government Health Scheme (CGHS) Beneficiary ID with their Ayushman Bharat Health Account (ABHA) ID.
The Ministry of Health and Family Welfare (MoHFW) has issued a directive, effective from 1st April 2024, to link their Central Government Health Scheme (CGHS) Beneficiary ID with their Ayushman Bharat Health Account (ABHA) ID. According to a memorandum by CGHS Director Manoj Jain, all existing beneficiaries must complete this linking process within 30 days. The linking of the CGHS beneficiary ID with the Ayushman Bharat ID is aimed at creating digital health identification of CGHS beneficiaries and storing their digital health records.
The CGHS, initiated in 1954, aims to offer comprehensive healthcare to Central Government employees, pensioners, and their families.
Ayushman Bharat Health account is a 14-digit number that allows citizens to maintain their medical records digitally.
__________________________________________
The Competition Commission of India (CCI) has approved a acquisition of an 8% stake in MG Motor India by IndoEdge India Fund – Large Value Fund (LVF) Scheme.
The Competition Commission of India (CCI) has approved a acquisition of an 8% stake in MG Motor India by IndoEdge India Fund – Large Value Fund (LVF) Scheme. The acquisition of shares in MG Motor India will grant IndoEdge India Fund 8.70% of the voting and economic rights. IndoEdge is a large-value fund tailored for accredited investors. It is a scheme offered by IndoEdge India Fund, a contributory determinate trust registered under the Securities and Exchange Board of India as a Category II Alternative Investment Fund, complying with the SEBI (AIF) Regulations, 2012.
__________________________________________