Sep 16, 2023
- Cabinet Approval on September 13, 2023 The Union cabinet chaired by Prime Minister(PM) Narendra Modi has approved the following proposals on 13th September 2023. Resolution on the success of the New Delhi Group20 (G20) Summit. The Union Cabinet approved the extension of Pradhan Mantri Ujjwala Yojana (PMUY) 2.0 for release of 75 lakh LPG (Liquefied Petroleum Gas) connections over 3 years from Financial Year 2023-24 to 2025-26. Approved the eCourts Project Phase Ill as a Central Sector Scheme spanning 4 years (starting from 2023 onwards) with financial outlay of Rs.7210 crore. Approval of MoUs between India and 3 other Countries MoU between India and Armenia, India and Antigua & Barbuda, India and Sierra Leone.
- NITI Aayog Completes Special Campaign 2.0 for Disposal of Pending Matters and Swachhta The National Institution for Transforming India (NITI Aayog) has successfully completed its Special Campaign 2.0, which aims to resolve pending matters and promote cleanliness (Swachhta) within government offices. The Special Campaign 2.0, initiated by the Department of Administrative Reforms and Public Grievances (DARPG), under the Ministry of Personnel, Public Grievances and Pensions, was undertaken from November 2022 to August 2023. About 95% of public grievances and appeals were successfully addressed during the campaign period. Special Campaign 2.0 is a step towards transparent, efficient governance and cleanliness in government institutions. The main goal of Special Campaign 2.0 was to quickly and effectively resolve public complaints, as well as references from Members of Parliament, State Governments, and other government agencies.
- IIT Kanpur Partners with ICICI Bank to Foster Startup Ecosystem The Indian Institute of Technology (IIT), Kanpur in Uttar Pradesh(UP) has signed a Memorandum of Understanding (MoU) with the ICICI Bank Limited to support the startup ecosystem at provide the Startup Incubation and Innovation Centre (SIIC) IIT Kanpur. The partnership offers a comprehensive support system to early-stage ventures.
- Max Life Launched Life Insurance & Health Combined Insurance Policy Named 'SEWA' Max Life Insurance Company Limited has launched a new insurance plan "Max Life Secure Earnings & Wetness Advantage (SEWA) Plan" that combines the benefits of health and life insurance under a single plan. It allows the insured to fulfill the healthcare needs of their family while simultaneously ensuring a financial backup for future expenses. It integrates health, protection, savings, and wellness benefits for the insured and offers a comprehensive plan that covers hospitalisation, Intensive Care Unit (ICU) charges, etc. along with life cover. SEWA Plan is available in 2 variants namely: Elite Variant and Lite Variant.
- RBI Issues Guidelines on Responsible Lending Conduct; Revises Banks' Investment Portfolio Norms, w.e.f April 1, 2024 On September 13, 2023, the Reserve Bank of India (RBI) issued guidelines on Responsible Lending Conduct which directs Regulated Entities (REs) to release all original movable or immovable property documents, and remove charges registered with any registry within 30 days of full repayment or settlement of personal loans by borrowers. lf REs delay property document release or fail to file charge satisfaction forms after 30 days post-loan settlement, they must explain the reasons to the borrower. If the delay is REs' fault, they must compensate the borrower at Rs 5,000/day.
- SIDBI partners with Tata Power to Finance Solar Rooftop Initiatives for MSMEs A Memorandum of Understanding (MoU) was signed between the Tata Power Solar Systems Limited (TPSSL), and Small Industries Development Bank of India (SIDBI) to offer an easy financing option for Micro, Small & Medium Enterprises (MSMEs). TPSSL is the wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL) while TPREL is a subsidiary of Tata Power. Signatories: Dr. Praveer Sinha, Chief Executive Officer (CEO) & Managing Director (MD), Tata Power; and Sivasubramanian Ramann, Chairman & Managing Director (CMD), SIDBI signed in the presence of Minister of State (MoS) of Finance, Dr. Bhagwat Karad, at the Global SME Finance Forum 2023 in Mumbai, Maharashtra.
AWARDS & RECOGNITIONS (NEWS):
- Indian Fashion Designer honoured with France's Chevalier dans I'Ordre des Arts et des Lettres The Government of France has awarded the "Chevalier de I'Ordre des Arts et des Lettres" (Knight of the Order of Arts and Letters) to the Indian Fashion Designer Rahul Mishra. The award recognises his achievements in the field of arts as a designer, and his commitment to promote Indian crafts and know-how internationally. The award also honours his contribution to the cultural relationship and cooperation between France and India. On 12th September 2023, Emmanuel Lenain, Ambassador of France to India, presented the insignia of the award to Rahul Mishra at a special ceremony at the Residence of France, New Delhi, Delhi.
ACQUISITIONS & MERGERS (NEWS):
- KKR Set to Invest Rs 2069.50 Crore in Reliance Retail The global investment firm KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is set to invest Rs 2,069.50 crore into Reliance Retail Ventures Limited (RRVL) to raise its total equity stake to 1.42% from 1.17% on a fully diluted basis. This investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis. The investment is at a pre-money equity value of Rs 8.361 lakh crore (around USD 100 billion). The deal makes RRVL one of the top four companies by equity value in India. RRVL is the retail arm and a subsidiary of Reliance Industries Limited(RIL). KKR had earlier invested Rs 5,550 crore in RRVL in 2020. In September 2023, RIL received Rs 8278 crore from Qatar Investment Authority (QIA) for around 1% stake in RRVL.
SCIENCE & TECHNOLOGY (NEWS):
- WHO Launches 2 New Resources Designed to Strengthen Suicide Prevention Efforts On 12th September 2023, the World Health Organization (WHO) launched 2 resources designed to strengthen suicide prevention efforts. The 2 resources are 4th version of Preventing Suicide: a resource for media professionals (2023 update). Policy brief on the health aspects of decriminalization of suicide and suicide attempts. The resources provide important guidance on two areas that are critical to suicide prevention efforts namely Responsible reporting of suicide by the media and Decriminalization of suicide and suicide attempts.
- AWS Signed MoU with ISRO & IN-SPACe to Support Space-tech Innovations through Cloud Computing Amazon Web Services (AWS) India Private Limited has signed a Memorandum of Understanding (MoU) with the Indian Space Research Organization (ISRO) and Indian National Space Promotion and Authorization Centre (IN-SPACe) to support space-tech innovations through cloud computing. Cloud computing provides speedy handling of enormous numbers of raw space data as well as the execution of Artificial intelligence (Al), Machine learning (ML) and analytics workloads to achieve meaningful results at a low cost.
- SAFF U16 Championship 2023: India Won the Title Defeating Bangladesh Indian Under 16 (U-16) men's football team won the South Asian Football Federation (SAFF) U-16 Championship 2023 title defeating Bangladesh (2-0) in the finals. The 2023 SAFF U16 Championship was held from 2nd to 10th September 2023 in Changlimithang Stadium in Thimphu, Bhutan. 2023 SAFF U16 Championship is the 8th edition of the SAFF U-15/U-16/U-17 Championship, the annual international football competition cont