PM MITRA Parks Expected to Bring ₹70,000 Crore Investment and 21 Lakh Jobs: Indian Government
The Indian government has announced the sites for setting up of seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks for the textile industry. The parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. The scheme is inspired by the 5F vision of Prime Minister Narendra […]
Report: India Plans to Double Cash Support for Women Farmers Before Lok Sabha Election
Background Prime Minister Narendra Modi’s government is considering doubling the annual payout to landowning female farmers to Rs 12,000, three sources with knowledge of the matter told Reuters, a move likely to appeal to women voters ahead of a general election. The plan is likely to be announced in the budget on February 1 and […]
“West Bengal Coastal Regions to Witness the 12th Phase of ‘Sagar Parikrama’ Starting Wednesday
The 12th phase of ‘Sagar Parikrama’, a flagship programme of the Ministry of Fisheries, Animal Husbandry and Dairying, will commence on Wednesday, January 10, 2024, covering the coastal regions of West Bengal. The programme aims to resolve the issues of fishermen and other stakeholders and facilitate their economic upliftment through various schemes and initiatives. Sagar […]
RBI Greenlights PFC’s IFSC Finance Company in GIFT City
What is PFC? Power Finance Corporation (PFC) is an infrastructure finance company under the power ministry. It provides financial assistance to various power projects in the country, such as generation, transmission, distribution, and renewable energy. PFC also offers consultancy services and promotes energy efficiency and conservation. As of March 2023, PFC had a loan portfolio […]
Denmark Spearheads Sustainable Energy Collaboration with Green Fuels Alliance India Launch at GIM 2024
Denmark has launched a new initiative to boost its collaboration with India in the sustainable energy solutions sector, especially in the field of green fuels such as hydrogen and its derivatives. The initiative, called Green Fuels Alliance India (GFAI), was announced at the Global Investors Meet (GIM) 2024 in Chennai, where Denmark was the partner […]
IndiGo’s New Pricing Strategy: Rs 2,000 for Premium Front Row Seats
Introduction: Hike in Charges for Front Row Seats IndiGo, one of the leading airlines in India, has recently updated its seat selection charges. Passengers opting for extra legroom in the front row of their aircraft will now face increased charges. Specifically, selecting a window or aisle seat in the front row of an A321 aircraft, […]
Advancing Financial Inclusion: Fino Payments Bank’s Journey to Becoming a Small Finance Bank
Introduction Fino Payments Bank, a notable player in the banking sector, has recently taken a significant step forward in its growth trajectory. The bank has formally applied for a license to operate as a Small Finance Bank (SFB) with the Reserve Bank of India (RBI). Application and Compliance This move by Fino Payments Bank aligns […]
How Switzerland’s Duty-Free Decision Affects India’s FTA Benefits
Switzerland, one of the most expensive countries in the world, has decided to abolish import duties on almost all industrial goods from 1 January 2024. This move is expected to reduce costs for consumers and businesses, and improve the competitiveness of the Swiss economy. However, it also poses a challenge for India, which has been […]
BI announces new policy for small finance banks with higher capital requirement
The Reserve Bank of India (RBI) has announced a new policy for licensing of small finance banks (SFBs) in the private sector on an ‘on tap’ basis. The policy aims to expand the banking services to the unserved and underserved sections of the society through high technology-low cost operations. Key changes in the policy
MoU Between India and Guyana in Hydrocarbon Sector Gets Cabinet’s Green Light
India and Guyana have agreed to cooperate in the hydrocarbon sector, covering the complete value chain from exploration and production to refining and renewables. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing of a Memorandum of Understanding (MoU) between the Ministry of Petroleum and Natural Gas, India and the Ministry […]