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CURRENT AFFAIRS : BANKING & FINANCE

India & the Asian Development Bank (ADB) ink $100 million loan pact to enhance urban services and boost tourism infrastructure in the state of Tripura

• The Government of India (GoI) signed an agreement with Asian Development Bank (ADB) to avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern state of Tripura.
• The signatories to the loan agreement for the Tripura Urban and Tourism Development Project were Juhi Mukherjee, Joint Secretary Department of Economic Affairs in the Ministry of Finance, for the Government of India, and Mr. Nilaya Mitash, Officer-in-Charge of ADB’s India Resident Mission, for ADB.
• Aim : To enhance urban services and tourism facilities in Tripura, focusing on improving municipal infrastructure, public services, and key tourism sites.

Key Highlights :

• Urban Infrastructure Upgrades :
• Installation of 42 km of new transmission and distribution pipes for urban water supply.
• Establishment of 4 new water treatment plants.
• Improvement of 55 km of stormwater drains
• Upgradation of 21 km of urban roads with features catering to the needs of diverse populations (elderly, women, children, and differently-abled).
• Capacity Building: The project includes capacity building for 12 urban local bodies, covering planning, infrastructure operations, financial management, gender equality, social inclusion, and project management.
• Building Regulations: The state government will update building regulations to incorporate spatial planning and green building principles, ensuring climate and disaster resilience.
• Tourism Development : Through this project, ADB will help upgrade tourist destinations, such as the Chaturdash Devata Temple, Kasba Kalibari, and Neermahal Palace, by improving the amenities, rooms, landscaping, and making them more visitor- and gender-friendly destinations.
• It will establish a digital museum and a new adventure park.
• Tourism Business Plan: A 10-year tourism business plan will be developed to guide marketing, promotion, and attract private sector investments in the tourism sector.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

RBI's Model Anticipates Retail Inflation to Reach 4.8% in FY25

• The Reserve Bank of India’s (RBI's) Dynamic Stochastic General Equilibrium (DSGE) model forecasts retail inflation to be 4.8% in the fiscal year 2024-25.
• The projected inflation rate surpasses the Monetary Policy Committee's (MPC) target of 4%.

Key Highlights :

• CPI Inflation Trends: The Consumer Price Index (CPI) inflation is anticipated to ease post Q3 FY24, averaging at 5.3% for the entire FY24 and further moderating to 4.8% in FY25.
• Repo Rate Implications: The DSGE model suggests that, based on the retail inflation forecast, the repo rate is likely to remain at 6.5% for the majority of FY25.
• MPC Focus on Accommodation Withdrawal: The Monetary Policy Committee plans to maintain the repo rate at 6.5% as part of its strategy to withdraw accommodation and align with the 4% inflation target.
• Real GDP Growth Projection (2023-24): The DSGE model projects a real GDP growth rate of 7.1% for the financial year 2023-24.
• DSGE Model Overview : The Dynamic Stochastic General Equilibrium (DSGE) model for the Indian economy captures the dynamic interactions between various agents in the economy as well as their response to shocks.
• For arriving at FY24 and FY25 real GDP growth projections, the DSGE model has made following assumptions:
• Global GDP growth of 2.6% and 2.1% for 2023-24 and 2024- 25, respectively
• Global CPI inflation of 5.5% and 4.0% for FY24 and FY25 respectively
• Unchanged policy repo rate and US Fed funds rate at 6.5% and 5.5% for the current and next financial year, respectively.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

MSME lender U Gro Capital raises ₹250 crore from Dutch development bank                                        

• Micro, Small and Medium Enterprises (MSME) lender U Gro Capital has raised ₹250 crore from Dutch development bank through rupee-denominated non-convertible debentures (NCDs).
• The association will help strengthen the fund’s commitment towards greater financial inclusion in India.
• The MSME-lending-focused NBFC has provided credit to more than 80,000 small businesses.
• Prior to this, it had raised ₹240 crore from Denmark’s Investment Fund for Developing Countries (IFU) in May 2023.
• Out of U Gro Capital’s total borrowings, about 20% are from development financial institutions and impact funds like ResponsIbility, Calvert Impact Capital, Enabling Qapital, SIDBI, and others.

IMF Reclassified India's Exchange Rate Regime from Floating to Stabilized Arrangement

• India’s de facto exchange rate regime has been reclassified by the International Monetary Fund (IMF) from “floating” to “stabilised arrangement” for the period December 2022 to October 2023.
• However, IMF has retained the de jure classification as “floating” after an article IV review.

Key Highlights :

• IMF Article IV Review Process : A team from the IMF staff visits the nation as part of the Article IV review process.
• The team gathers financial and economic data and discusses with officials the economic development and policies of the nation. The team prepares a report based on these.
• Rupee-Dollar Fluctuations : The staff saw that the rupee-dollar had fluctuated dramatically during the previous two years, losing almost 15% of its value between December 2019 and November 2022.
• Reform Efforts and Potential Growth : India has a far higher potential growth rate, according to the IMF, if reform efforts are advanced.
• Economic Projections : The IMF stated that real GDP is projected to grow at 6.3% in FY 2023/24 and FY2024/25.
• Inflation Outlook : Headline inflation is expected to gradually decline to the target.
• Current Account Deficit Improvement : The current account deficit is expected to improve to 1.8% of GDP in FY 2023/24.

About IMF :

• Headquarters : Washington, D.C., United States
• Managing Director : Kristalina Georgieva
• Membership : 190 countries (189 UN countries and Kosovo)

LIC Granted Extension Until May 2032 to Attain 25% Minimum Public Shareholding

• Life Insurance Corporation of India (LIC) will get time till May 2032 to comply with Minimum Public Shareholding (MPS) norms prescribed by the Securities and Exchange Board of India (SEBI) under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957.

Key Highlights :

• As of September 30, 2023, the government owns 96.5% in LIC.
• The government divested 3.5% of its shareholding in LIC last year, and accordingly, it got listed on stock exchanges.
• Rule 19A of the Securities Contract Regulation Rules says every listed company, other than a public sector company, shall maintain a public shareholding of at least 25%.
• Such a company will get three years from the date of listing to ensure MPS.
• Such a provision aims to bring more public shareholding.
• The public can be an individual or an institution.

About LIC:

• Established: 1st September 1956
• MD: Siddhartha Mohanty
• Headquarters: Mumbai, Maharashtra, India

NABARD's Initiative to Access Global Climate Capital for the Indian Agricultural Sector

• The National Bank for Agriculture and Rural Development (NABARD) has teamed up with the Asian Development Bank (ADB) to help the farming sector tackle the adverse impact of climate change.
• The two organisations, in association with the Bill and Melinda Gates Foundation, will tap climate capital to fund agricultural, natural resources and rural development (ANR) initiatives.

Key Highlights :

• The collaboration is aimed at enhancing food security and climate financing in India’s ANR sector.
• NABARD will also receive support to formulate a climate financing policy and its adoption.
• Intellecap Advisory Services Private Limited will manage the TCU set up under the agreement.
• The firm has experience in managing large-scale programmes in agriculture and other allied sectors, with a focus on climate adaptation and mitigation.
• The partnership will identify and support food security and climate financing programmes in the ANR sector.
• The support can also be extended to NABARD’s ongoing and future projects, the ADB and other public and private funds can add value.
• The projects eligible for support include climate-resilient agriculture and agroforestry projects, irrigation modernisation projects and JIVA (agro-ecology programme for revitalising natural resources management).

About JIVA :

• Launched by NABARD in 2022.
• JIVA is a community-based participatory programme for watershed (rainfed) and wadi (tribal) areas, extending over 2.5 million hectares, with a funding commitment of about Rs 5,000 crore.

About NABARD :

• Headquarters : Mumbai, Maharashtra, India
• Chairman : Shri. Shaji K V
• It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
• NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).

IndusInd Bank Divests from Nippon Life India Asset, Sells Shares Valued at Rs 795 Crore

• Hinduja-promoted IndusInd Bank sold its entire 2.86% stake in Nippon Life India Asset Management for Rs 795 crore through open market transactions.
• SBI Mutual Fund (MF), ICICI Prudential MF, Bajaj Allianz Life Insurance, ICICI Prudential Asset Management Company, Societe Generale and Morgan Stanley Asia Singapore, were among the buyers.
• Through 13 tranches, IndusInd Bank offloaded 1,78,57,355 shares, amounting to a 2.86% stake in Nippon Life India Asset Management (NAM-INDIA), as per the block deal data available with the BSE.
• The shares were disposed of at an average price of Rs 445.35 per piece, taking the combined transaction value to Rs 795.27 crore.
• At the end of the September quarter, IndusInd Bank held 1,78,57,355 shares, representing a 2.86 per cent stake in NAM-INDIA, according to shareholding data on the BSE.
• According to the block deal data available with the National Stock Exchange (NSE), K S Kolbenschmidt GMBH sold 39 lakh shares, amounting to a 8.85 per cent stake in Shriram Pistons & Rings Ltd.

About IndusInd Bank :

• Founded : April 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sumant Kathpalia.
• Tagline : We Make You Feel Richer

ETO Motors gets Rs 12.45 crore grant from SIDBI to deploy 300 electric three-wheelers in Delhi and Hyderabad

• The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 electric three-wheelers in Hyderabad, Telangana and New Delhi, Delhi for first- and last-mile passenger connectivity.
• The EV maker will also build an EV charging infrastructure to support the deployment of the electric three-wheelers.
• The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two-, three- and four-wheelers through direct and indirect lending.
• The objective of this scheme is to provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.
• As part of the funding, ETO Motors is expected to set up 180 charging points in the two cities.
• The electric three-wheelers will be manufactured at ETO Motors’ capacity in Jadcherla, Telangana which also includes a modern research and development lab.

About Small Industries Development Bank of India :

• Established : 2 April 1990
• Headquarters : Lucknow, Uttar Pradesh, India
• Chairman & MD : Sivasubramanian Ramann
• The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).

CURRENT AFFAIRS: NATIONAL NEWS

Ministry of Textiles launches “Paat-Mitro” application to facilitate jute farmers

• The Ministry of Textiles launched “Paat-Mitro” - a mobile application to provide important information about MSP and agronomy to jute farmers.
• Rachna Shah, Assistant Secretary, Textiles Ministry, has launched it, which is available at 6 beaches.
• This mobile application was developed by the Jute Corporation of India Limited (JCI) during the ‘Jute Symposium’. It is available in six languages.
• It will provide information about the latest agronomic practices and Minimum Support Prices (MSP); Jute Gradation Parameters, Farmer-centric schemes like ‘Jute-ICARE’, weather forecasts, etc.
• Through this application, farmers will also be able to track the status of their payments for the raw jute sold to JCI under MSP.
• Many latest features like Chatbot are included in this application for resolving queries.
• To create awareness and popularize Jute based technical textiles, the ‘Jute Symposium’ was organized.

About JCI

• Jute Corporation of India Limited (JCI) was set up in 1971 as an official agency by the Government of India with the aim to provide minimum support price (MSP) to jute cultivators.
• It is under the administrative control of the Ministry of Textiles.
• It spread in 7 states which are eminent for jute growing in India, including West Bengal, Bihar, Assam, Meghalaya, Tripura, Orissa, and Andhra Pradesh. It has been provided with an authorised and paid-up capital of Rs. 5 crore.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Bhutan Unveils Ambitious Project for a 1,000-sq. km. Green City along Assam Border, Linking South Asia to Southeast Asia

• Bhutan is planning to build a huge "International City" over an area of more than 1,000 sq km on its border with Assam.
• Bhutanese King Jigme Khesar Namgyel Wangchuck announced the project in Thimphu.

Key Highlights :

• The project is envisioned as an "economic corridor" connecting South Asia to Southeast Asia, particularly through the northeastern states of India.
• India and Bhutan agreed to build the first India-Bhutan railway line up to Gelephu, which over time will also be connected to road routes and border trade and crossing points in Assam and West Bengal.
• Bhutan's initiative will provide access to Myanmar, Thailand, Cambodia, and Singapore.
• The ambitious project will be named the 'Gelephu Smart City Project.'
• Gelephu's plans include a "zero emissions" industry, aligning with sustainable and environmentally friendly practices.
• The project envisions a "mindfulness city" leveraging Bhutan's strengths in tourism and wellness.
• The project is expected to encompass various infrastructure components, including companies focusing on construction and development.

About Bhutan : 

• Prime Minister : Lotay Tshering
• Capital : Thimphu
• Currency : Ngultrum

CURRENT AFFAIRS: BUSINESS AND ECONOMY

RBI Releases Draft Licensing Framework for Authorised Persons Under FEMA

• The Reserve Bank of India (RBI) has released a draft 'Licensing Framework for Authorised Persons (APs)' under the Foreign Exchange Management Act (FEMA), 1999.
• According to the RBI release, the focus of the draft norms is on rationalising the authorisation framework for money changers because of the widespread availability of banking services to public, to look at alternate models for facilitating foreign exchange-related services and improve the scope of services being offered by AD-Category II entities.
• It added that it will also review the regulatory framework for APs.
• The RBI had, in its June monetary policy meeting, the Central Bank decided to rationalise and simplify the licensing framework for APs to effectively meet the emerging requirements of the rapidly growing Indian economy.

Unclaimed deposits with banks rise by 28 pc to Rs 42,270 cr in FY23

• Unclaimed deposits with banks have witnessed a significant 28% annual increase, reaching Rs 42,270 crore as of March 2023, from Rs 32,934 crore in the fiscal year 2022.
• The unclaimed deposits are divided, with Rs 36,185 crore held by public sector banks and Rs 6,087 crore with private sector banks as of March 2023.
• Banks typically transfer unclaimed deposits of account holders dormant for 10 or more years to the RBI's Depositor Education and Awareness (DEA) Fund.
• To address the issue, the RBI has directed banks to display lists of unclaimed deposits from accounts inactive for a decade or more on their websites.
• The RBI has introduced a centralised web portal called Unclaimed Deposits Gateway to Access Information (UDGAM) to facilitate the search for unclaimed deposits across multiple banks.
• Furthermore, a campaign named '100 Days 100 Pays' has been launched by the RBI, encouraging banks to trace and settle the top 100 unclaimed deposits of every bank in each district within a 100-day timeframe.
• After the campaign, 31 major banks, constituting over 90% of unclaimed deposit balances with the DEA Fund, have refunded Rs 1,432.68 crore.

CURRENT AFFAIRS: AWARDS AND HONOURS

Gaja Capital Business Book Prize 2023 announced

• The Gaja Capital Business Book Prize 2023 has been jointly won by Against All Odds: The IT Story of India (Penguin) by Kris Gopalakrishnan, N Dayasindhu and Krishnan Narayanan, and Winning Middle India: The Story of India’s New-Age Entrepreneurs (Penguin) by TN Hari and Bala Srinivasa.
• The Rs 15 lakh cash prize is awarded annually to authors of narrative non-fiction about Indian business and entrepreneurship.
• Last year’s award was won by The Indian Express National Rural Affairs and Agriculture Editor Harish Damodaran for Broke to Breakthrough: The Rise of India’s Largest Private Dairy Company.
• The Gaja Capital Business Book Prize was instituted in 2019, to encourage Indian entrepreneurs, writers, and journalists to tell their stories to the world.

UNESCO: Bengaluru Airport’s T2 named among ‘world’s most beautiful airports’

• Terminal 2 (T2) of Kempegowda International Airport (KIA) in Bengaluru has been awarded the Special Prize for an Interior at the UNESCO’s 2023 Prix Versailles Awards.
• Kempegowda International Airport (KIA) is the only Indian airport to receive this award.
• The Prix Versailles awards were established in 2015.
• It is announced each year at UNESCO.
• T2 called a “Terminal in a Garden” was inaugurated in 2022.
• The terminal can accommodate 25 million passengers annually.
• It had previously earned the prestigious IGBC platinum certification from the Indian Green Building Council.
• Green building rating brings together a host of sustainable practices and solutions to reduce environmental impacts.
• It is also the world’s largest terminal pre-certified with a platinum LEED rating by the US Green Building Council (UGBC) even before commencing operations, reflecting its sustainable design.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Egypt's El-Sisi Secures Third Presidential Term with 89.6% Majority Vote

• Abdel Fattah el-Sisi won the third Presidential Election in Egypt by winning 89.6% of the vote in the election.
• His term as President of Egypt has been extended to 6 years.
• The election came as Egypt grapples with a slow-growing economic crisis and tries to manage the risk of an outbreak of war in Gaza, which borders Egypt's Sinai Peninsula.
• Voting took place in Egypt for three days from December 10 to 12, 2023.
• He was elected to the presidency in 2014, and re-elected in 2018, both times with 97% of the vote.
• In 2019, the constitution was amended, extending the presidential term from four to six years and allowing Mr Sisi to stand for a third term.

About Egypt :

• President : Abdel Fattah el-Sisi
• Prime Minister : Moustafa Madbouly
• Capital : Cairo
• Currency : Egyptian pound

Bisleri Appoints Deepika Padukone as Global Brand Ambassador    

• Bisleri, India’s leading mineral water brand, has roped in Deepika Padukone as its first-ever global brand ambassador and feature in the new campaign Bisleri #DrinkItUp.
• The ad film showcases Padukone grooving to a snappy and modern take on the iconic song 'Jhoom Jhoom Jhoom Baba' while relishing the pure refreshment of the original beverage, 'water'.
• The Bisleri #DrinkItUp campaign was shot by Nirvana Films and directed by ace-director Prakash Verma, while Bisleri’s association with Padukone was managed by Wavemaker and GroupM ESP.
• The integrated campaign will be promoted across various platforms, including television, digital, Out-of-Home media, delivery vehicles, influencer engagement, OTT platforms, and much more.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Quality Council of India to Provide Technical Support to Andhra Pradesh Govt. in Agriculture & Allied Sectors

• The Quality Council of India (QCI) and the Government of Andhra Pradesh have forged a landmark partnership by signing an MoU to transform the state’s agricultural sector during the Andhra Pradesh Gunvatta Sankalp event, a QCI initiative to foster a quality mission across the states of India.
• This collaboration will witness QCI providing extensive technical support across various agriculture and allied sectors, fuelling Andhra Pradesh's journey towards a Viksit Bharat built on quality and sustainability.
• The Andhra Pradesh Gunvatta Sankalp commenced with lighting the lamp in the presence of the Minister for Agriculture, Andhra Pradesh Govt. Shri Kakani Govardhan Reddy; Shri Jaxay Shah, Chairperson, QCI; Shri Gopal Krishna Dwivedi, Chief Commissioner, RBKs, & Special Chief Secretary to A.P. Govt.; Shri Chiranjiv Choudhary, Principal Secretary to Govt. Marketing & Cooperation Development; Dr S.S. Sreedhar, Commissioner of Horticulture & Sericulture and Dr. A. Raj, CEO of the National Board for Quality Promotion, QCI. Hon’ble Minister also launched the QCI IndG.A.P. Portal and presented IndG.A.P. certificates to selected farmers from different state villages.
• Under this strategic partnership, QCI will lend its expertise in developing and designing a robust conformity assessment framework for the state's agricultural sector.
• This framework will establish clear quality standards and ensure adherence to best practices throughout the value chain, from farm to fork.
• It will provide crucial training programs for stakeholders at all levels, empowering farmers, cooperatives, industry players, and government officials with the knowledge and skills needed to navigate the quality ecosystem effectively.
• Additionally, QCI will offer its esteemed accreditation services, further bolstering confidence in the quality and safety of Andhra Pradesh's agricultural produce.

Ministry of Rural Development signs MoU with Reliance Retail’s JioMart, to on-board  DAY-NRLM’s SHGs

• The Ministry of Rural Development (MoRD) has signed a memorandum of understanding (MoU) with Reliance Retail’s JioMart as part of its efforts to enhance the outreach of the products of self-help groups (SHGs) of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
• This will bring SHGs under MoRD’s SARAS collection brand onto JioMart offering a range of handlooms and handicrafts products from traditional textiles to pantry, home décor and beauty products.
• This initiative will further boost MoRD’s provision under the SARAS collection to be available to a larger consumer base.
• JioMart will also help set-up and support them to navigate and operate their account on the marketplace.
• Additionally, JioMart will jointly participate in trainings and workshops facilitated by MoRD to enable sellers to familiarise selling experience on the portal.

CURRENT AFFAIRS: RANKING AND REPORTS

Kerala most preferred state to work in India: Skills Report

• As per the India Skills Report 2024, Kerala is the most preferred State to work in India.
• Kochi and Thiruvananthapuram have emerged as premier employment destinations for the youth in the country.
• According to this report, in urban areas, both men and women prefer to work regardless of their age.
• This report has been published by talent assessment agency Wheebox in collaboration with AICTE, CII, AIU, Google, and Tagged.
• 88 lakh youth have been surveyed through a National Employability Test conducted nationwide.
• This report shows that employability in India has improved and 51.25% of the youths have been found employable with the required skills.
• In overall employability among the 18-21 age group, Kerala secured second position.
• Thiruvananthapuram leads in providing computer skills.
• Kerala is in third position in terms of the highest concentration of employable talent in the B.E./BTech and polytechnic domains.
• The report appreciated Kerala’s government’s step to impart skills to over 2.5 lakh higher secondary students in the last decade.

Daily CA One- Liner: December 27

• The Ministry of Textiles launched “Paat-Mitro” - a mobile application to provide important information about MSP and agronomy to jute farmers.
• The Reserve Bank of India (RBI) has released a draft 'Licensing Framework for Authorised Persons (APs)' under the Foreign Exchange Management Act (FEMA), 1999
• Unclaimed deposits with banks have witnessed a significant 28% annual increase, reaching Rs 42,270 crore as of March 2023, from Rs 32,934 crore in the fiscal year 2022.
• The Gaja Capital Business Book Prize 2023 has been jointly won by Against All Odds: The IT Story of India (Penguin) by Kris Gopalakrishnan, N Dayasindhu and Krishnan Narayanan, and Winning Middle India: The Story of India’s New-Age Entrepreneurs (Penguin) by TN Hari and Bala Srinivasa.
• Terminal 2 (T2) of Kempegowda International Airport (KIA) in Bengaluru has been awarded the Special Prize for an Interior at the UNESCO’s 2023 Prix Versailles Awards.
• The Government of India (GoI) signed an agreement with Asian Development Bank (ADB) to avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern state of Tripura.
• The Reserve Bank of India’s (RBI's) Dynamic Stochastic General Equilibrium (DSGE) model forecasts retail inflation to be 4.8% in the fiscal year 2024-25.
• Micro, Small and Medium Enterprises (MSME) lender U Gro Capital has raised ₹250 crore from Dutch development bank through rupee-denominated non-convertible debentures (NCDs).
• India’s de facto exchange rate regime has been reclassified by the International Monetary Fund (IMF) from “floating” to “stabilised arrangement” for the period December 2022 to October 2023.
• Life Insurance Corporation of India (LIC) will get time till May 2032 to comply with Minimum Public Shareholding (MPS) norms prescribed by the Securities and Exchange Board of India (SEBI) under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957.
• The National Bank for Agriculture and Rural Development (NABARD) has teamed up with the Asian Development Bank (ADB) to help the farming sector tackle the adverse impact of climate change.
• Hinduja-promoted IndusInd Bank sold its entire 2.86% stake in Nippon Life India Asset Management for Rs 795 crore through open market transactions.
• The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 electric three-wheelers in Hyderabad, Telangana and New Delhi, Delhi for first- and last-mile passenger connectivity.
• Bhutan is planning to build a huge "International City" over an area of more than 1,000 sq km on its border with Assam.
• Abdel Fattah el-Sisi won the third Presidential Election in Egypt by winning 89.6% of the vote in the election.
• Bisleri, India’s leading mineral water brand, has roped in Deepika Padukone as its first-ever global brand ambassador and feature in the new campaign Bisleri #DrinkItUp.
• The Quality Council of India (QCI) and the Government of Andhra Pradesh have forged a landmark partnership by signing an MoU to transform the state’s agricultural sector during the Andhra Pradesh Gunvatta Sankalp event, a QCI initiative to foster a quality mission across the states of India.
• The Ministry of Rural Development (MoRD) has signed a memorandum of understanding (MoU) with Reliance Retail’s JioMart as part of its efforts to enhance the outreach of the products of self-help groups (SHGs) of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
• As per the India Skills Report 2024, Kerala is the most preferred State to work in India.