₹48,075.75 Crore in Relief: Unpacking EPFO’s Non-Refundable Withdrawals During Covid-19
During the Covid-19 pandemic, the Employees’ Provident Fund Organisation (EPFO) in India provided a crucial financial relief measure to its members by introducing a special window for non-refundable withdrawals.
The Big Transfer: Unraveling the Economic Significance of Sahara’s Rs 25,000 Crore to the Government
The transfer of Rs 25,000 crore from Sahara’s unclaimed funds to the Indian government could have several implications for the economy and bond market. This analysis synthesizes data and insights from multiple sources.
Clean Energy Revolution: India Mandates Bio-Gas Blending for CNG and PNG
Finance Minister Nirmala Sitharaman announced the establishment of 500 new ‘waste to wealth’ plants under the Galvanizing Organic Bio-Agro Resources Dhan scheme (GOBARdhan) in the Union Budget 2023, presented on February 1, 2023. This includes 200 compressed biogas (CBG) plants and 300 community or cluster-based plants, with a total investment of Rs 10,000 crore.
RITES Ltd Granted ‘Navratna’ Status: India’s 16th Central Public Sector Enterprise
RITES Ltd, a Central Public Sector Enterprise (CPSE) under the Ministry of Railways, has been conferred the prestigious ‘Navratna’ status by the Indian government, marking a significant milestone in its history. This designation places RITES as the 16th Navratna CPSE in India. The Ministry of Finance announced this status on October 12, 2023.
Reliance SBI Card: A Credit Card Designed for the Modern Consumer
The partnership between SBI Card and Reliance Retail has led to the introduction of the ‘Reliance SBI Card’, a co-branded shopping credit card. This partnership marks a significant development in the Indian retail and banking sectors. Here are the key details about the card and the partnership
Tata Enters iPhone Manufacturing Arena: India Poised to Become Global Electronics Hub
The Tata Group is set to become India’s first homegrown iPhone manufacturer, marking a significant milestone in the country’s technology and manufacturing sector. This development follows the approval by Wistron Corp’s board for the sale of its Wistron InfoComm Manufacturing (India) Private Ltd unit to Tata for $125 million, equivalent to approximately Rs 1,040 crore.
Empowering the Disabled: Government Announces 1% Rebate on Loan Repayments
The Indian Government, particularly the Ministry of Social Justice and Empowerment, has introduced an initiative to support Persons with Disabilities (PwDs), commonly referred to as ‘divyangjan’ in India, by offering a 1% interest rate rebate on loans.
India Shines Bright: Poised to Become World’s Second Largest Solar Module Manufacturer by 2025
By the end of March 2025, India’s annual solar module manufacturing capacity is expected to reach between 38 to 43 gigawatts (GW). This marks a nearly 400% increase from the 8GW per year capacity as of early 2021.
UPI Cleanup: NPCI to Deactivate Inactive IDs by December 31
This decision was taken to prevent the inadvertent transfer of funds to unintended recipients when customers change their mobile numbers without disconnecting the old number from the banking system. It addresses the possibility that the old mobile number may be assigned to a new operator.
Nippon Life India AIF Taps into Growing Private Credit Market with ₹1,000 Crore Initiative
Nippon Life India Alternative Investment Fund (AIF) has made a significant move in the financial sector of India by announcing its plan to mobilize ₹1,000 crore for the expansion of private credit.