SBI’s New Green Rupee Term-Deposit Scheme: A Step Towards Climate-Friendly Projects
Introduction The State Bank of India (SBI), the country’s largest lender, has launched the SBI Green Rupee Term Deposit (SGRTD). This initiative aims to mobilize funds to support environmentally friendly initiatives and projects, fostering the growth of a green finance ecosystem in India. About the Scheme According to an SBI spokesperson, the interest rate on […]
All Entities to Register for M2M, WPAN, WLAN via SaralSanchar: Telecom Dept’s Latest Announcement
The Department of Telecommunications (DoT) has announced that all entities engaged in Machine-to-Machine (M2M) service provisioning and Wireless Personal Area Network as also Wireless Local Area Network (WPAN/WLAN) connectivity provisioning are required to register with DoT through a simple and transparent online process via SaralSanchar portal. What is M2M and WPAN/WLAN? M2M is a technology […]
India’s Coal Ministry Sets Robust Production Goal: 186.63 MT from Captive and Commercial Mines in FY 2024-25
The Ministry of Coal has set an ambitious target of producing 186.63 million tonnes of coal exclusively from captive or commercial coal mines during the financial year 2024-25, which starts this April. This is a significant increase from the estimated production of 87.5 million tonnes in the current fiscal year and accounts for about 17% […]
Dr. Mansukh Mandaviya Inaugurates ‘PRASADAM’: Pioneering Healthy & Hygienic Food Streets in India
A Pioneering Initiative Ujjain, a city already renowned for its spiritual significance, has added another feather to its cap with the inauguration of India’s first health food street, ‘Prasadam’. Union Health Minister Mansukh Mandaviya and Madhya Pradesh’s Chief Minister Mohan Yadav unveiled this innovative project in Ujjain, marking a significant step towards promoting healthy eating […]
2023: A Landmark Year for Indian Startups with $11 Bn Raised
2023: A Landmark Year for Indian Startups with $11 Bn Raised The year 2023 was a challenging yet rewarding one for Indian startups, as they raised more than $11 billion in venture capital across 984 deals, according to startup data intelligence platform TheKredible. Despite the funding crunch, economic slowdown and mass layoffs, the ecosystem also […]
IFSC Announces Tax Exemption for Non-Resident Investors
The International Financial Services Centre (IFSC) at GIFT City in Gujarat has announced a slew of tax incentives for non-resident investors in its latest budget. The amendments to the Finance Bill, 2023, which were passed by the Lok Sabha on Friday, aim to make the IFSC more attractive and competitive as a global financial hub. […]
Highway Construction in FY24: Road Ministry’s 13,814 km Target
The Ministry of Road Transport and Highways (MoRTH) has set an ambitious target of constructing 13,814 km of national highways in the financial year 2023-24, which is higher than the previous year’s achievement of 13,327 km. The ministry is confident of meeting this target despite the challenges posed by the covid-19 pandemic and the rising […]
Ordinance to Amend Kerala’s GST Law on Gambling Signed by Governor
The Kerala Governor Arif Mohammed Khan has signed an ordinance amending the state GST law on gambling, online gaming and horse racing. The ordinance was promulgated by the state government after the 50th Goods and Service Tax (GST) Council meeting had fixed 28 per cent GST on gambling at casinos, horse racing and online gaming […]
A New Era of Energy Cooperation: India and Nepal Inaugurate Transmission Lines
In a landmark agreement that marks a new era in the energy sector of South Asia, Nepal and India have formalized a significant power trade agreement. Under this accord, Nepal will export 10,000 megawatts (MW) of hydroelectricity to India over the next decade. This agreement not only underscores the strengthening ties between the two neighboring […]
Insolvency Proceedings in Crisis: Understanding the Impact of Extended Timelines
As of September 2023, the insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) has faced significant delays, with timelines stretching far beyond the prescribed limits. This has led to a decrease in the asset value of companies undergoing the resolution process. Since the implementation of the IBC in December 2016, creditors have realized […]