The government has launched a 'Mission on Advanced and High-Impact Research (MAHIR)' with a view to leverage emerging technologies in the power sector and make the country a manufacturing hub. It aims to facilitate indigenous research, development and demonstration of the latest and emerging technologies in the power sector. The Mission will be funded by pooling financial resources of the Ministry of Power, Ministry of New and Renewable Energy and the Central Public Sector Enterprises under the two Ministries. Additional funding will be mobilized from Government of India's budgetary resources. The mission is Planned for an initial period of five....Read More

Factors like high inflation, uncertain macroeconomic outlook and debt distress are keeping the world off-track for attaining United Nations-mandated Sustainable Development Goal 7 by 2030, according to a new UN report. SDG 7 is to “ensure access to affordable, reliable, sustainable and modern energy for all.” The Report is produced annually by five of the custodian agencies responsible for tracking global progress toward Sustainable Development Goal 7 (SDG 7). The custodians developing the report are the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the United Nations Statistics Division (UNSD), the World Bank, and the World Health Organization....Read More

Reserve Bank of India (RBI) Governor Mr. Shaktikanta Das recently launched a Financial Inclusion Dashboard, named Antardrishti. The dashboard will provide the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters. The dashboard, presently intended for internal use in the RBI, will further facilitate greater financial inclusion through a multi-stakeholder approach.Read More

The Reserve Bank of India (RBI) launched the ‘100 Days 100 Pays’ Campaign for Return of Unclaimed Deposits As of February 2023, the total amount of unclaimed deposits transferred to the RBI by public sector banks (PSBs) reached Rs 35,012 crore. Balances in savings / current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as “Unclaimed Deposits”. These amounts are transferred by banks to “Depositor Education and Awareness” (DEA) Fund maintained by the Reserve Bank of India. The campaign is aimed for banks to trace and....Read More

The Union Minister of Ports, Shipping & Waterways flagged off MV Empress, India’s first international cruise vessel - from Chennai to Sri Lanka. The MV Empress will sail to three Sri Lankan ports: Hanbantota, Trincomalee, and Kankesanturei. An MoU was signed during the first Incredible India International Cruise Conference in 2022 between Chennai Port and M/S Waterways Leisure Tourism Pvt Ltd to start domestic and international cruise service. The government also plans to develop three new international cruise terminals in Andamans, Puducherry, and Lakshadweep, which are expected to be operational by 2024.Read More

Morgan Stanley and Nomura in their recent assessments said that this decadal growth will be led by countries like India and from southeast Asia (Indonesia etc.). They reported that Asia's flying geese model is back in operation. ABOUT FLYING GEESE MODEL It is a theory of industrial development in latecomer economies, was developed in the 1930s by Japanese economist Kaname Akamatsu. It intends to explain the catching-up process of industrialization of latecomer economies, especially Japan and the East Asian Economies. This approach saw the US (on global scale) and Japan (in Asia) as the lead geese, followed by Asian emerging....Read More

CSIR- Indian Institute of Integrative Medicine (CSIR-IIIM) is supporting farmers in the cultivation of Lavender in the Bhaderwah, Doda district, J&K under CSIR-Aroma Mission. In India, the term purple revolution is generally associated with Lavender production. Aroma Mission aims to promote the cultivation of aromatic crops for essential oils that are in great demand by aroma industry for fuelling the growth of aroma industry and rural employment. Under it, Lavender cultivation is being promoted in the temperate regions of J&K.Read More

Farmers have reported “foot rot” disease on the saplings of Basmati variety of paddy that are in the nurseries. ABOUT FOOT ROT DISEASE It is also known as Bakanae Disease. It is a soil and seed-borne deadly fungus which is seen only in the Basmati variety of paddy. It is caused by ‘Fusarium verticillioides’ fungi. The infected saplings turn pale yellow and become elongated and later, the saplings start drying and usually die. Symptoms sometimes appear after transplantation and the infected plants first grow way taller than the normal plants and die after a few days.Read More

As per reports, many finfluencers are now "renting out" research analyst (RA) licences for a fee. A finfluencer — as a financial influencer is usually called — is one who gives the ordinary investor information and advice on an array of financial topics such as stock market trading, personal finance and mutual funds. Several finfluencers were quoted in the report as saying that their applications are being rejected as RA regulations are very strict in India. Currently, in India, to become a registered RA, a person must hold a post-graduate degree or a professional qualification and market experience of five....Read More

The Insurance Regulatory and Development Authority of India (IRDAI) issued draft guidelines for Bima Vahaks. It seeks to establish a dedicated distribution channel at the level of Gram Panchayats. Bima Vahaks, a core component of IRDAI’s ‘Insurance for all by 2047’goal, aims to improve accessibility and availability of insurance in country. Three pillars of entire insurance ecosystem: Insurance customers (policyholders), Insurance providers (insurers) and Insurance distributers (intermediaries). Objectives of Bima Vahak guidelines Establish dedicated distribution channel focused on enhancing insurance inclusion and creating awareness in every Gram Panchayat. Identification and development of local resources within each Gram Panchayat, with a....Read More