BUSINESS & ECONOMY

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Central Bureau of Narcotics busts illicit drug manufacturing kitchen lab at Karnal, Haryana

Acting on the said specific information, officers of Central Bureau of Narcotics, New Delhi, raided on 05/07/2022 and busted a clandestine Kitchen Lab where narcotics drugs containing Diphenoxylate was being manufactured. Preventive and Intelligence Cell , Central Bureau of Narcotics, New Delhi had developed an information about a clandestine kitchen lab of Narcotics powder containing …

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E-governance

The Ministry of Electronics and Information Technology (MeitY), Government of India launched the ‘Digital India’ programme with the vision to transform India into a digitally empowered society and knowledge-based economy by ensuring digital access, digital inclusion, digital empowerment and bridging the digital divide. In summary, our mission is to ensure that the digital technologies improve …

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Number of employees in it

As per National Association of Software and Services Companies (NASSCOM), Indian Information Technology (IT) Industry directly employs around 51 lakh persons in FY 2021-22, most of which are IT skilled. In addition, with increasing digitalization under the Digital India program in the last 7 years, other economic sectors have created large opportunities for digitally enabled …

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Digital transaction

During the last three years, digital payment transactions have registered unprecedented growth in India. Easy and convenient modes of digital payment, such as Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), Immediate Payment Service (IMPS), pre-paid payment instruments (PPIs) and National Electronic Toll Collection (NETC) system have registered substantial growth and have transformed digital payment ecosystem …

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CCI approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC

The Competition Commission of India (CCI) approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC. The proposed combination envisages acquisition of 99.96% stake in IDFC Asset Management Company Limited (IDFC AMC) and 100% stake in IDFC AMC Trustee Company Limited (IDFC …

CCI approves acquisition of stake in IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited by Bandhan Financial Holdings Limited, ChrysCapital and GIC Read More »

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CCI approves acquisition of 50.1% of the equity share capital of Sanmina-SCI India Private Limited (SCIPL) by Reliance Strategic Business Ventures Limited (RSBVL)

The Competition Commission of India (CCI) approves acquisition of 50.1% of the equity share capital of Sanmina-SCI India Private Limited (SCIPL) by Reliance Strategic Business Ventures Limited (RSBVL). The proposed combination envisages acquisition of 50.1% of the equity share capital of SCIPL by RSBVL. RSBVL is a subsidiary of Reliance Industries Limited. RSBVL’s principal activities …

CCI approves acquisition of 50.1% of the equity share capital of Sanmina-SCI India Private Limited (SCIPL) by Reliance Strategic Business Ventures Limited (RSBVL) Read More »

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CCI approves Composite Scheme of Arrangement and Amalgamation between Shriram Group Companies

The Competition Commission of India (CCI) approves Composite Scheme of Arrangement and Amalgamation between Shriram Group Companies under Section 31(1) of the Competition Act, 2002. The proposed combination involves composite scheme of arrangement and amalgamation (Scheme) between Shrilekha Business Consultancy Private Limited (SBCPL), Shriram Financial Ventures (Chennai) Pvt. Ltd (SFVPL), Shriram Capital Limited (SCL), Shriram …

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Nearly 275 Persons with Disabilities – employees of central Oil and Gas public enterprises are participating in the Games

Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs Shri Hardeep Singh Puri inaugurated the fourth ONGC Para Games in Thyagaraj Sports Complex in New Delhi today. 275 Persons with Disabilities (PwD) – employees of eight central oil and gas public enterprises – are participating in the 4th ONGC Para Games, being …

Nearly 275 Persons with Disabilities – employees of central Oil and Gas public enterprises are participating in the Games Read More »

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Udyam Portal of Ministry of MSME achieves landmark One crore registrations

The Ministry of MSME celebrated the landmark of 1 crore registrations on its Udyam Portal today. Following the adoption of the revised definition of Micro, Small and Medium Enterprises (MSMEs) on 26th June, 2020, which is based on investment in plant & machinery or equipment; and turnover, the Udyam Registration Portal was launched on 1st July, 2020. …

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Irregularities in cooperative credit societies

Co-operative societies registered under the provisions of the Multi State Cooperative Societies (MSCS) Act, 2002 are functioning as autonomous cooperative organizations accountable to their members. Whenever, complaints are received against any of the multi-State cooperative credit societies for violation of MSCS Act or Rules or non- repayment of deposits on maturity, action is taken as …

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Amount duped by cooperative societies

The Co-operative societies with members from one state are registered under the provisions of concerned State Cooperative Societies Act and are regulated by the concerned State Registrars of the Cooperative Societies. The details of such societies including multipurpose cooperative societies registered under the State Cooperative Act is maintained by the concerned State Registrar of Cooperative …

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ED attaches assets worth ₹415 crore in Yes Bank- DHFL fraud case

Enforcement Directorate has attached assets totalling ₹415 crore in Yes Bank- DHFL Fraud case. Of the total, ₹251 crore assets were of Sanjay Chhabria and ₹164 crore of Avinash Bhosale. ED issued two provisional attachment orders under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) against the duo. With this latest attachment, the total goes …

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Indian Railways records best ever July Monthly freight loading of 122.14 MT in July’22

Indian Railways (IR) has recorded best ever July Monthly freight loading of 122.14 MT in July’22. The incremental loading in the month of July has been 9.3 MT i.e. a growth of 8.25 % over  the previous best July figures achieved in 2021. With this, Indian Railways has had 23 straight months of best ever …

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India achieves landmark milestone, over 75000 startups recognised so far

Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile Shri Piyush Goyal today announced that India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country. These numbers tell the power of a vision. A vision to see innovation & enterprise drive growth, he emphasized. The …

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4,31,86,423 subscribers enrolled under Atal Pension Yojana up to 21.07.2022

As per information received from Pension Fund Regulatory and Development Authority (PFRDA), 4,31,86,423 subscribers have been enrolled under Atal Pension Yojana (APY) up to 21.07.2022. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today. Giving more details, the Minister …

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DEA conducts training programme as a part of Capacity Building initiatives in infrastructure sector, in association with Indian School of Business (ISB), Mohali, and Indian Institute of Management, Calcutta

Under the Capacity Enhancement Plan (CEP) framed by the Department of Economic Affairs (DEA) in collaboration with Capacity Building Commission (CBC), for driving relevant capacities across Ministries, State Governments, and extended ecosystem of infrastructure execution in the country. Till date, twelve training programmes (mix of offline and online) have been conducted for 358 senior officials …

DEA conducts training programme as a part of Capacity Building initiatives in infrastructure sector, in association with Indian School of Business (ISB), Mohali, and Indian Institute of Management, Calcutta Read More »

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Rs 9.98 lakh crore sanctioned to 16.67 crore loan accounts under Pradhan Mantri Mudra Yojana in 3 years

As per the extant guidelines, any individual who is otherwise eligible to take loan and has a business plan for non-farm income generating activities in sectors such as manufacturing, trading, services and activities allied to agriculture and whose credit need is up to Rs.10 lakh is eligible to avail credit under the Pradhan Mantri Mudra …

Rs 9.98 lakh crore sanctioned to 16.67 crore loan accounts under Pradhan Mantri Mudra Yojana in 3 years Read More »

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RBI allowed invoicing and payments for international trade in Indian Rupee

The Reserve Bank of India (RBI) has allowed invoicing and payments for international trade in Indian Rupee vide A.P (DIR Series) Circular No. 10 RBI/2022-2023/90 dated 11.07.2022 on “International Trade Settlement in Indian Rupees (INR)”. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a …

RBI allowed invoicing and payments for international trade in Indian Rupee Read More »

Frequently Asked Questions (FAQs) about the Indian National Flag

Q1. Is the use, display and hoisting of the National Flag guided by any overarching set of instructions?  Yes, the “Flag Code of India 2002′ and the Prevention of Insults to National Honour Act, 1971. Q2. What is the Flag Code of India?  The Flag Code of India brings together all laws, conventions, practices, and instructions for …

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Notices issued to three Chinese mobile companies for tax evasion: Sitharaman

The government is looking into cases of alleged tax evasion by three mobile companies of China and notices have been given to them, Finance Minister Nirmala Sitharaman informed Rajya Sabha on Tuesday. Replying to supplementaries during the Question Hour, the minister said the three companies are Oppo, Vivo India and Xiaomi. The Department of Revenue …

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Telecom Industry responds to Prime Ministers Telecom reforms: 5G spectrum auction grosses Rs. 1,50,173 Cr.

Government of India had put 72,098 MHz spectrum to auction, of which 51,236 MHz (71% of the total) has been sold with bid amounting to Rs. 1,50,173 Cr. M/s Adani Data Networks Ltd has obtained 400 MHz spectrum in mm wave band (26 GHz). M/s Bharti Airtel Ltd has obtained 19,867.8 MHz in 900, 1800, …

Telecom Industry responds to Prime Ministers Telecom reforms: 5G spectrum auction grosses Rs. 1,50,173 Cr. Read More »

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Atal Innovation Mission commences Call for Application for setting up Incubation Centres

Atal Innovation Mission (AIM), NITI Aayog today launched Call for Applications for its two leading programs Atal Incubation Centre (AIC) and Atal Community Innovation Centre (ACIC). The call for applications is a step to expand the current ecosystem of incubators and to provide them with access to global benchmarks and best practices.   Both the programs envision …

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Under CLSS vertical of PMAY-U, so far, an interest subsidy of ₹48,095 crore has been released for 20.76 lakh beneficiaries

The Minister of State for Housing and Urban Affairs, Shri Kaushal Kishore in a written reply to a question in the Rajya Sabha today informed that the Government provides interest subsidy on home loans under Credit Linked Subsidy Scheme (CLSS) vertical of Pradhan Mantri Awas Yojana-Urban (PMAY-U).   Interest subsidy is credited upfront to the loan account …

Under CLSS vertical of PMAY-U, so far, an interest subsidy of ₹48,095 crore has been released for 20.76 lakh beneficiaries Read More »

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Shri Satyendra Prakash assumes charge as Principal Director General, Press Information Bureau

Shri Satyendra Prakash assumed charge as Principal Director General of Press Information Bureau (PIB) today. Shri Prakash is an Officer of the Indian Information Service, Batch of 1988. Prior to this he held the position of Principal DG, Central Bureau of Communication. Shri Satyendra Prakash has a wide experience in Central Government in the field …

Shri Satyendra Prakash assumes charge as Principal Director General, Press Information Bureau Read More »

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Health Care for Unorganised Workers

Ministry of Labour and Employment runs a Labour Welfare Scheme (Health) for providing Health care facilities to the beedi/cine/iron, manganese, chrome/limestone & dolomite/mica mine workers and their family members through 285 Dispensaries and 10 Hospitals located across the Country. The scheme also provides for reimbursement of expenditure on specialized treatment under the Government recognized Hospitals …

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All India Survey on Migrant Workers

Labour Bureau has launched All India Survey on Migrant Workers with effect from 1st April, 2021, with the following objectives: To estimate the number of domestic/internal migrant workers in the country. To collect data on their household characteristics, socio economic conditions and working conditions. Study the impact of COVID19 on their work.   The survey …

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Enforcement of Minimum Wages

The provisions of the Minimum Wages Act, 1948, are being enforced by the Central Government and the State Governments in their respective jurisdiction. In the Central sphere the enforcement is done through the Inspecting Officers of the Chief Labour Commissioner (Central) commonly designated as Central Industrial Relations Machinery (CIRM) and the compliance in the State …

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Regular Source of Working Capital for MSMEs

To address the regular requirement of working capital including small ticket size loan by Micro, Small and Medium Enterprises (MSMEs) and to stay afloat, the Government has taken a number of initiatives in recent years which inter-alia includes measures such as (i) Collateral free Automatic Loans under Emergency Credit Line Guarantee Scheme (ECLGS) for businesses, …

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Procurement of Goods and Services from MSMEs

As per the information available on Sambandh Portal (as on 28.07.2022), the details of procurement by various Central Government Ministries/Departments, including the Central Public Sector Undertakings (CPSUs), which have reported their procurement from Micro and Small Enterprises (MSEs), since the year 2017-18 are given below :   Year Procurement by Central Government Ministries/Departments/Public Sector Enterprises …

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Bailout Package for MSMESs Sector

Government has announced and operationalised Aatma Nirbhar Bharat Package for MSMEs to cope up with the COVID-19 crisis, which inter alia includes the following major schemes:   Emergency Credit Line Guarantee Scheme (ECLGS): This scheme was announced as a part of Aatma Nirbhar Bharat Package in May, 2020 to provide Collateral free Automatic Loans for  …

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