Research Education and Training Outreach (REACHOUT) Scheme: An Initiative to Enhance Healthcare Services in Rural Areas The Ministry of Health and Family Welfare has launched a new scheme called the Research Education and Training Outreach (REACHOUT) Scheme. The aim of this scheme is to provide high-quality healthcare services to people living in rural and remote…
India’s Forex Reserves Fall $2.40 Billion to 3-Month Low of $560 Billion India’s foreign exchange reserves fell by $2.4 billion to a three-month low of $560.02 billion in the week ended April 9, as per the Reserve Bank of India’s (RBI) weekly statistical supplement released on Friday. India’s forex reserves had touched a lifetime high…
National Company Law Tribunal (NCLT) Approves HDFC and HDFC Bank Merger The National Company Law Tribunal (NCLT) has approved the merger of HDFC Developers Ltd with HDFC Bank. The merger was announced in November 2021, and the NCLT’s approval comes after HDFC Developers’ shareholders approved the merger in March 2022. As per the merger deal,…
FDIC appoints former Fannie Mae chief Tim Mayopoulos as CEO of Silicon Valley Bank The Federal Deposit Insurance Corporation (FDIC) has appointed Tim Mayopoulos as the CEO of Silicon Valley Bank (SVB). Mayopoulos is the former CEO of Fannie Mae, one of the largest mortgage finance companies in the United States. He will succeed SVB’s…
Ministry of Culture Administers Financial Assistance to Veteran Artists Scheme The Ministry of Culture has announced a financial assistance scheme for veteran artists, folk artists, and artisans. The scheme aims to provide monetary assistance to those who have contributed to their respective fields for a long time but are facing financial difficulties due to age-related…
Begging has been a long-standing social issue in India, with millions of people forced to beg for their livelihood due to poverty and unemployment. The Nagpur Municipal Corporation (NMC) has launched a new initiative called “Beggar-Free City” to address this problem. This initiative aims to provide vocational training and employment opportunities to beggars, enabling them…
Women’s World Boxing Championships 2023: MC Mary Kom & Farhan Akhtar Named Brand Ambassadors The upcoming Women’s World Boxing Championships 2023 has been the talk of the town ever since it was announced to be held in India. And now, the championship has received a major boost as two renowned personalities, MC Mary Kom and…
The Life Insurance Corporation of India (LIC) has appointed Tabelesh Pandey and M Jagannath as its new managing directors (MDs). Pandey and Jagannath will take over as MDs of the insurance giant on 1st May 2023, replacing current MDs MR Kumar and TC Suseel Kumar, who are set to retire on 30th April 2023. Why…
India’s Digital Payments Market Will More Than Triple to $10 Trillion by 2026 Digital payment systems have been rapidly gaining traction in India in recent years, thanks to the government’s push towards a cashless economy and increased adoption of smartphones and internet services. According to a report by RedSeer Consulting, India’s digital payments market is…
PMLA 2002 Amended to Include Cryptocurrency Trade The Indian government has recently amended the Prevention of Money Laundering Act (PMLA) 2002 to include transactions related to cryptocurrencies such as Bitcoin, Ethereum, and other digital currencies. This move comes after the Reserve Bank of India (RBI) had banned banks from dealing with cryptocurrency exchanges in 2018,…
