Following the significant sell-off in the Indian stock markets on 07 April 2025, coupled with a sharp rebound the following day;
Jaison Davis, Economic Research Analyst atGlobalData, a leading data and analytics company, provides his perspective:
“On 07 April 2025, the Indian stock market experienced a significant downturn, with the BSE Sensex and NSE Nifty recording their sharpest single-day declines of the year. This sell-off was triggered by the 26% US tariff on Indian imports, which led to widespread investor panic and the decline resulted in an estimated loss of $16.8 billion-$22.8 billion in market capitalization in just one trading session.
“The downturn was broad-based, impacting nearly all sectors. The Nifty Metal index suffered the most due to fears of reduced industrial demand amid concerns of a potential US recession. The Nifty IT index also faced losses exceeding 2%, reflecting its high exposure to the US market. Other sectors, including auto, realty, and financials, experienced substantial declines. Broader market indices, such as the BSE Midcap and Smallcap indices, saw even steeper losses, indicating that negative sentiment extended beyond large-cap stocks. The India VIX, a measure of market volatility, surged over 65%, signaling heightened anxiety among investors regarding trade implications.
“The Indian market’s decline was part of a broader global sell-off, with Asian markets experiencing their worst single-day fall in over a decade. This synchronized downturn highlights the interconnectedness of global economies amid concerns over potential trade wars. The outlook for the Indian stock market remains mixed, with short-term volatility expected as investors assess the implications of the tariffs and await developments in trade negotiations. The sectors heavily reliant on the US market, such as IT and textiles, may face challenges immediately, while domestic demand-driven sectors like FMCG and infrastructure could show resilience.
“On 08 April 2025, the Indian stock market rebounded significantly, with Sensex and Nifty surged more than 1.5% in early trades of the day, driven by a global market recovery and optimism over potential easing of US trade tariffs. Strong buying from domestic institutional investors, despite foreign institutional selling, contributed to this rebound. Broad-based gains across sectors like banking, IT, and FMCG further supported the recovery. However, the sustainability of this rebound remains uncertain, hinging on global trade developments, the Reserve Bank of India’s monetary policy, and ongoing market volatility, necessitating cautious investor sentiment.”
The uveitis market in the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK, and Japan) is set to grow from $522.5 billion in 2023 to $1.5 billion in 2033, driven by the entry of therapies with new mechanisms of action and route of administration into the market, as well as the growth of the uveitis population, forecasts GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Uveitis: Opportunity Assessment and Forecast,” reveals that the growth will be supported by the anticipated launch of six novel pipeline agents, two of which are projected to launch across the 7MM, coupled with the growing uveitis population throughout the forecast period.
Sara Reci, MSc, Managing Pharma Analyst at GlobalData, comments: “While the use of corticosteroids are well-established in the uveitis space, their side effects profile makes them fall short. The key opinion leaders (KOLs) interviewed by GlobalData emphasized that the most pressing unmet needs in the management of uveitis included improving the safety and side-effect profile, longer acting therapies, drugs with other mechanisms of action, and greater awareness and education of physicians.”
Looking ahead, the late-stage pipeline products that are anticipated to reach the uveitis market during the forecast period will introduce new mechanisms of action.
These include Tarsier Pharma’s TRS-01, an angiotensin-converting enzyme 2 activator, neuropilin-1 antagonist, and toll like receptor family inhibitor administered as eye drops; Priovant Therapeutics’ PF-06700841-15 (brepocitinib tosylate), a non receptor tyrosine protein kinase TYK2 inhibitor and tyrosine protein kinase JAK1 inhibitor administered orally; Eli Lilly’s Olumiant (baricitinib), a tyrosine protein kinase JAK1 inhibitor, tyrosine protein kinase JAK2 inhibitor, administered orally; Kiora Pharmaceuticals’ KIO-104, a dihydroorotate dehydrogenase quinone mitochondrial inhibitor, administered intravitreally; and Roche’s EBI-031 (vamikibart), an IL-6 inhibitor administered intravitreally.
Furthermore, Oculis Holding’s OCS-02 (licaminlimab), a TNF inhibitor in late-stage pipeline development, introduces the first monoclonal antibody with an ophthalmic route of administration into the uveitis space.
Reci continues: “All in all, these late-stage pipeline candidates are of great benefit within the uveitis space, especially in the cases of patients who do not respond well to existing treatment options.”
While the uveitis market is projected to grow in the forecast period across the 7MM, it may face some challenges. KOLs have noted that despite the side effects associated with corticosteroids, they have a proven track record in being effective and quick-acting.
Reci concludes: “Pipeline agents will face difficulty in proving that their efficacy matches that of corticosteroids. Furthermore, an anticipated high cost of therapy associated with pipeline agents may impact the drugs’ shares of the market once they reach the uveitis market. Nonetheless, the launch of late-stage pipeline therapies with new mechanisms of action, routes of administration, and longer treatment intervals will undoubtedly be a driving force for market growth in the uveitis space.”
NASA astronaut Jonny Kim, accompanied by Roscosmos cosmonauts Sergey Ryzhikov and Alexey Zubritsky, arrived at the International Space Station on Tuesday, bringing the number of residents to 10 for the next two weeks. The Soyuz MS-27 spacecraft carrying Kim, Ryzhikov, and Zubritsky docked to the Prichal module at 4:57 a.m. EDT, following a three-hour, two-orbit journey to the space station. They launched at 1:47 a.m. (10:47 a.m. Baikonur time) from the Baikonur Cosmodrome in Kazakhstan. When hatches open at approximately 7:20 a.m., the trio will join the Expedition 72 crew, including NASA astronauts Nichole Ayers, Anne McClain, and Don Pettit, JAXA (Japan Aerospace Exploration Agency) astronaut Takuya Onishi, and Roscosmos cosmonauts Kirill Peskov, Ivan Vagner, and Alexey Ovchinin. NASA’s live coverage of hatch opening will begin at 7 a.m. on NASA+. Learn how to watch NASA content through a variety of platforms. Expedition 73 will begin on Saturday, April 19, following the departure of Pettit, Ovchinin, and Vagner, as they conclude a seven-month science mission aboard the orbiting laboratory. Watch the ceremonial change of command at 2:40 p.m. on Friday, April 18, as Ovchinin transfers the distinction to Onishi, live on NASA+. Throughout his eight-month stay aboard the orbital outpost, Kim will conduct scientific research in technology development, Earth science, biology, human research, and more. This is the first flight for Kim and Zubritsky, and the third for Ryzhikov. Learn more about space station activities at: https://www.nasa.gov/station -end- Joshua FinchHeadquarters, Washington202-358-1100joshua.a.finch@nasa.gov Sandra JonesJohnson Space Center, Houston281-483-5111sandra.p.jones@nasa.gov
What you need to know: CAL FIRE is launching a new campaign supporting Californians to take steps now – including home hardening and defensible space – to prepare for peak fire season.
SACRAMENTO – “Prepare your home and property! Start at the house and work your way out.” Millions of Californians will soon see that message as the state launches a new wildfire preparedness campaign to support preparation efforts for fire season.
As California heads into peak wildfire season, CAL FIRE is urging residents across the state to take proactive steps now to protect their homes and communities. Today’s campaign launch follows Governor Newsom’s action last month proclaiming a state of emergency to fast-track critical projects protecting communities from wildfire, ahead of peak fire season.
2025 has already seen an unprecedented start to the year with January’s Eaton and Palisades fires in Los Angeles. These fires rank as the second and third most destructive in California’s history, underpinning the importance of acting now to prepare one’s family, property, and community for wildfire.
The Los Angeles fires are a stark reminder of the year-round threat wildfire poses for our communities. As we head into peak fire season, we’re ramping up efforts to communicate with those in areas where preparedness measures like home hardening and defensible space can save lives. Now is the time to prepare your home and property.
Governor Gavin Newsom
This year’s campaign emphasizes two essential strategies in wildfire preparedness: home hardening and defensible space. Now through late May residents across the state will see digital and social media advertising, posters and materials at hardware and convenience stores, and messaging at gas pumps and other popular locations in Wildland Urban Interface communities. Outreach will be delivered in both English and Spanish to reach as many Californians as possible.
Creating a five foot buffer zone of defensible space, known as Zone 0, and taking steps to harden your home has been scientifically proven to be the most effective way to increase the likelihood of your home surviving a wildfire.
Governor Newsom has invested unprecedented resources into wildfire response and prevention, including nearly doubling CAL FIRE’s budget to $4 billion and investing 10x the amount than when the Governor took office for forest and land management. The state has also created the world’s largest aerial firefighting fleet, increased the use of prescribed burns, and implemented new technologies including AI and satellite technology to fight fires.
Key tips to prepare for wildfire
Home hardening:
Install or upgrade to fire-resistant materials on roofs, vents, siding, windows, and decks.
Clear debris from roofs, gutters, vents, and under decks.
Seal all cracks and openings larger than 1/8 inch to prevent embers from entering the home.
Defensible space:
Maintain a 5-foot ember-resistant zone immediately around the home—no flammable vegetation or materials.
Maintain 100 feet of defensible space, including trimming trees, cutting grasses, and removing dead vegetation.
Store combustible items (firewood, propane tanks, vehicles) at least 30 feet away from structures.
To make preparation easier, CAL FIRE offers the firePLANNER tool at ReadyForWildfire.org, where residents can:
Create a custom wildfire readiness plan.
Access checklists, safety tips, and alerts.
Stay informed with real-time wildfire and evacuation updates.
Now is the time to act. Start at the house and work your way out. Learn more at ReadyForWildfire.org.
Press Releases, Recent News
Recent news
Apr 7, 2025
News What you need to know: As National Library Week begins, California is suing the Trump administration after millions of dollars in grants to the state’s libraries were terminated abruptly when the federal administration illegally dismantled a federal agency….
Apr 5, 2025
News Family farmers share how these cuts will harm their businesses and communities What you need to know: Governor Newsom sent a letter of appeal today to the Department of Agriculture asking for a reversal of the termination of $47 million meant to support…
Apr 5, 2025
News California Just a Nevada-Sized Economy Away from Overtaking Germany and Japan as World’s No. 3 Economy— Bloomberg News SACRAMENTO — As President Trump threatens the U.S. economy with reckless tariffs and rising uncertainty, Governor Gavin Newsom announced new…
What you need to know: As National Library Week begins, California is suing the Trump administration after millions of dollars in grants to the state’s libraries were terminated abruptly when the federal administration illegally dismantled a federal agency.
Sacramento, California – As National Library Week begins, Governor Gavin Newsom and Attorney General Rob Bonta announced a lawsuit against the Trump administration after millions of dollars in grants to state libraries were terminated abruptly through the Trump administration’s efforts to illegally shutter the agency that administers them. This threatens federal funding to California libraries that support library staff and critical library programs, including literacy and language tutoring and summer reading and activity programs.
In California, we know libraries hold more than books. Libraries, and librarians, stand at the crossroads of opportunity and information, offering countless programs and supports for everyone in the community, from career help to free meals for children. An attack on libraries is an attack on communities – and California is fighting back.
Governor Gavin Newsom
“Our libraries are hubs for learning, civic engagement, and community. They provide important services to Californians, from kids summer reading and meal programs, to programs that help families, seniors, and veterans navigate an increasingly digital world,” said Attorney General Rob Bonta. “On Friday, we sued the Trump Administration for unlawfully attempting to shutter the Institute of Museum and Library Services—a federal agency that supports libraries across the nation. This National Library Week, we recognize the essential role that libraries play in our communities and to preserve our rich cultural heritage, and vow to continue the fight to ensure that all Californians can access the public services libraries provide our communities every day.”
Executive Order No. 14238 continues the Trump administration’s unlawful attack on several Congressionally-established agencies, including the Institute of Museum and Library Services (IMLS), which supports educational and cultural institutions and programs across the country. Through IMLS’s Grants to States Program, the California State Library received $15.7 million in federal funding to support statewide library programs and staffing – less than 40 cents per Californian. Over 21 percent of that funding has yet to be sent to California.
IMLS funds support numerous programs that serve all Californians – especially lower-income families, seniors, and veterans. These funds also help expand access to the Career Online High School program that enables adults to earn their high school diplomas through local libraries, and the Braille and Talking Book Library that ensures that visually impaired Californians have free access to books in accessible formats. If the Order stands, all functions and staff positions paid for with IMLS funding will be at risk.
Attorney General Bonta joined the lawsuit alongside the attorneys general of New York, Rhode Island, Hawaii, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, Oregon, Vermont, Washington, and Wisconsin.
This is California’s 12th lawsuit against the Trump administration. A copy of the lawsuit is available here.
More on California’s State Library
With IMLS funding, the State Library works with the 1,127 libraries across the state to provide high-quality literacy and summer programs, high-speed broadband, disaster preparedness, early learning, homework help, teen services, career resources, and collections. It supports transparency, providing free and open access to government information through the Federal and State Depository Library Programs. The State Library also maintains and expands the Braille and Talking Book Library, providing audio and braille books, magazines, and descriptive videos to blind and print disabled Californians.
Press Releases, Recent News
Recent news
Apr 5, 2025
News Family farmers share how these cuts will harm their businesses and communities What you need to know: Governor Newsom sent a letter of appeal today to the Department of Agriculture asking for a reversal of the termination of $47 million meant to support…
Apr 5, 2025
News California Just a Nevada-Sized Economy Away from Overtaking Germany and Japan as World’s No. 3 Economy— Bloomberg News SACRAMENTO — As President Trump threatens the U.S. economy with reckless tariffs and rising uncertainty, Governor Gavin Newsom announced new…
Apr 4, 2025
News “California is not Washington, D.C.” What you need to know:As President Trump’s tariffs take effect, Governor Gavin Newsom is pursuing new strategic partnerships with international trading partners while calling for California-made products to be excluded from…
New Delhi, India, 7 April 2025: The Development Monitoring and Evaluation Office (DMEO) of the National Institution for Transforming India (NITI Aayog) and the Independent Evaluation Office (IEO) of the New Development Bank (NDB) have signed a statement of intent to enhance cooperation in the field of independent evaluation and capacity-building.
The statement of intent establishes a framework for strategic and technical collaboration between DMEO and IEO, supporting evidence-based policymaking and improving development effectiveness. The partnership will focus on knowledge exchange, evaluation capacity-building, and awareness initiatives to reinforce India’s evaluation landscape.
Key areas of cooperation between DMEO and IEO include:
Technical assistance: Sharing expertise and best practices in independent evaluation methodologies.
Capacity-building: Organising workshops and training programmes to strengthen technical capabilities at national and state levels.
Knowledge-sharing: Facilitating exchange of methodologies, tools and evaluation approaches.
Awareness and communications: Joint activities to promote M&E, including conferences, stakeholder meetings and learning events.
In her message on this occasion, Ms. Nidhi Chhibber, Director-General, DMEO, NITI Aayog, stated, “By bringing together the expertise of DMEO, NITI Aayog and IEO, NDB, the partnership will facilitate the sharing of technical knowledge, development of methodologies, and capacity building, leading to a more synergistic and strengthened monitoring & evaluation ecosystem”.
In his remarks, Mr. Ashwani K. Muthoo, Director General, IEO, NDB, noted, “With 26 projects worth USD 8.6 billion financed in India since 2016, NDB is deeply committed to supporting the country’s development journey. Independent evaluation ensures that these investments yield sustainable results. Through this collaboration with DMEO, we aim to not only enhance evaluation capacity but also contribute to India’s long-term development goals by strengthening accountability, evaluation-based knowledge-sharing and evidence-driven decision-making”.
NDB’s portfolio in India spans critical sectors such as transport infrastructure (with 55% of its projects focused on this sector), water and sanitation (16%), renewable energy (3%), and COVID-19 emergency assistance (23%). These projects are spread across 13 states and union territories, with four initiatives having a nationwide scope.
This partnership underscores NDB’s commitment to supporting India’s development agenda and reinforces its role in fostering sustainable and inclusive growth.
About the New Development Bank
NDB is a multilateral bank established in 2015 by Brazil, Russia, India, China and South Africa (BRICS) with the aim of mobilising resources for infrastructure and sustainable development projects in BRICS countries and emerging markets and developing countries (EMDCs). In alignment with its members’ development objectives and commitments under the Sustainable Development Goals (SDGs) and the Paris Agreement, NDB prioritises high-impact operations that are climate-smart, disaster-resilient, technology-integrated, and socially inclusive. NDB’s Independent Evaluation Office (IEO) is responsible for independently evaluating the Bank’s policies, strategies, processes, initiatives and operations. IEO also contributes and provides oversight to improve the effectiveness of the Bank’s quality assurance and self-evaluation activities.
About theDevelopment Monitoring and Evaluation Office (DMEO)
DMEO was established by the Government of India on 18th September 2015, as an attached office of the NITI Aayog by merging the erstwhile Program Evaluation Office and Independent Evaluation Office. To ensure that DMEO is able to function independently, it has been given separate budgetary allocations and manpower in addition to complete functional autonomy. The Programme Evaluation Organization (PEO) was established by the Government of India in October 1952 with a specific task of evaluating the community development programmes and other intensive area development schemes which were being funded by the Government of India. It worked as a division of the erstwhile Planning Commission and was headed by an Adviser (PEO) who reported to the Member, Planning Commission. PEO had 15 field units (7 Regional Evaluation Offices + 8 Project Evaluation Offices) located across the country. In an effort to accord more functional autonomy to the programme evaluation mechanism in the country, the Government of India established the Independent Evaluation Office (IEO) in November, 2010. The IEO was headed by a Director General, equivalent to a Union Minister of State in rank and status.
Global executions hit their highest figure since 2015, as over 1,500 people were executed across 15 countries in 2024, said Amnesty International today as it released its annual report on the global use of the death penalty.
According to the report, Death Sentences and Executions 2024, 1,518 executions were recorded in 2024 – the highest number since 2015 (at least 1,634) – with the majority in the Middle East. However, for the second year in a row, countries carrying out executions remained at the lowest point on record.
The known totals do not include the thousands of people believed to have been executed in China, which remains the world’s lead executioner, as well as North Korea and Viet Nam which are also believed to resort to the death penalty extensively. Ongoing crises in Palestine (State of) and Syria meant that Amnesty International could not confirm a figure.
The death penalty is an abhorrent practice with no place in today’s world.
Agnès Callamard, Amnesty International’s Secretary General
Iran, Iraq and Saudi Arabia were responsible for the overall rise in known executions. In total, the trio accounted for a staggering 1,380 recorded executions. Iraq almost quadrupled its executions (from at least 16 to at least 63) and Saudi Arabia doubled its yearly total (from 172 to at least 345), while Iran executed 119 more individuals than last year (from at least 853 to at least 972) – accounting for 64% of all known executions.
“The death penalty is an abhorrent practice with no place in today’s world. While secrecy continued to shroud scrutiny in some countries that we believe are responsible for thousands of executions, it’s evident that states that retain the death penalty are an isolated minority. With just 15 countries carrying out executions in 2024, the lowest number on record for the second consecutive year, this signals a move away from this cruel, inhuman and degrading punishment,” said Agnès Callamard, Amnesty International’s Secretary General.
“Iran, Iraq, and Saudi Arabia were responsible for the sharp spike in deaths last year, carrying out over 91% of known executions, violating human rights and callously taking people’s lives for drug-related and terrorism charges.”
The five countries with the highest number of recorded executions in 2024 were China, Iran, Saudi Arabia, Iraq and Yemen.
Authorities weaponizing death penalty
Throughout 2024, Amnesty International witnessed leaders weaponizing the death penalty under the false pretence that it would improve public safety or to instil fear among the population. In the USA, which has experienced a steady upward trend in executions since the end of the Covid-19 pandemic, 25 people were executed (against 24 in 2023). Newly electedPresident Trump repeatedly invoked the death penalty as a tool to protect people “from violent rapists, murderers, and monsters”. His dehumanizing remarks promoted a false narrative that the death penalty has a unique deterrent effect on crime.
In some countries in the Middle East region, death sentences were used to silence human rights defenders, dissidents, protesters, political opponents, and ethnic minorities.
Those who dare challenge authorities have faced the most cruel of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out.”
Agnès Callamard
“Those who dare challenge authorities have faced the most cruel of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out,” said Agnès Callamard.
“In 2024, Iran persisted in their use of the death penalty to punish individuals who had challenged the Islamic Republic establishment during the Woman Life Freedom uprising. Last year saw two of those people – including a youth with a mental disability – executed in connection with the uprising following unfair trials and torture-tainted ‘confessions’, proving how far the authorities are willing to go to tighten their grip on power.”
Saudi authorities continued to weaponize the death penalty to silence political dissent and punish nationals from the country’s Shi’a minority who supported “anti-government” protests between 2011 and 2013. In August, the authorities executed Abdulmajeed al-Nimr for terrorism-related offences related to joining Al-Qaeda, despite initial court documents referring to his participation in protests.
The Democratic Republic of Congo announced its intention to resume executions while Burkina Faso’s military authorities announced plans to reintroduce the death penalty for ordinary crimes.
Rise in executions for drug-related offences
Over 40% of 2024’s executions were carried out unlawfully for drug-related offences. Under international human rights law and standards, the use of the death penalty must be restricted for the ‘most serious crimes’ – sentencing people to death for drug-related offences does not meet this threshold.
“Drug-related executions were prevalent in China, Iran, Saudi Arabia, Singapore and, while no confirmation was possible, likely Viet Nam. In many contexts,sentencing people to death fordrug-related offences has been found to disproportionately impact those from disadvantaged backgrounds, while it has no proven effect in reducing drug trafficking,” said Agnès Callamard.
“Leaders who promote the death penalty for drug-related offences are proposing ineffective and unlawful solutions. States considering introducing capital punishment for drug-related offences, such as the Maldives, Nigeria and Tonga, must be called out and encouraged to put human rights at the centre of their drug policies.”
The power of campaigning
Despite a rise in executions, just 15 countries were known to have carried them out – the lowest number on record for the second consecutive year. As of today, 113 countries are fully abolitionist and 145 in total have abolished the death penalty in law or practice.
In 2024, Zimbabwe signed into law a bill that abolished the death penalty for ordinary crimes. For the first time, more than two thirds of all UN member states voted in favour of the tenth General Assembly resolution on a moratorium on the use of the death penalty. Death penalty reforms in Malaysia also led to a reduction by more than 1,000 in the number of people at risk of execution.
When people prioritize campaigning for an end to the death penalty, it really does work.
Agnès Callamard
Furthermore, the world witnessed the power of campaigning. Hakamada Iwao – who spent nearly five decades on death row in Japan – was acquitted in September 2024. This has continued into 2025. In March, Rocky Myers – a Black man sentenced to death in Alabama despite serious flaws in the proceedings – was granted clemency following calls from his family and legal team, a former juror, local activists and the international community.
“When people prioritize campaigning for an end to the death penalty, it really does work,” said Agnès Callamard. “Despite the minority of leaders determined to weaponize the death penalty, the tide is turning. It’s only a matter of time until the world is free from the shadows of the gallows.”
In 2024, global executions surged to 1,518, the highest since 2015
Iran, Iraq and Saudi Arabia responsible for 91% of executions
Known totals do not include thousands of people believed to have been executed in China, which remains the world’s lead executioner
Countries weaponising death penalty against protesters and there’s a rise in drug-related executions
‘Those who dare challenge authorities have faced the cruellest of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out’ – Agnès Callamard
Global executions hit their highest figure since 2015, as over 1,500 people were executed across 15 countries in 2024, said Amnesty International today as it released its annual report on the global use of the death penalty.
The 48-page report, Death Sentences and Executions 2024, found that 1,518 executions were recorded in 2024 – the highest number since 2015 (at least 1,634) – with the majority in the Middle East. However, for the second year in a row, countries carrying out executions remained at the lowest point on record.
The known totals do not include the thousands of people believed to have been executed in China, which remains the world’s lead executioner, as well as North Korea and Vietnam which are also believed to resort to the death penalty extensively. Ongoing crises in Palestine (State of) and Syria meant that Amnesty could not confirm a figure.
Iran, Iraq and Saudi Arabia were responsible for the overall rise in known executions. In total, the three countries accounted for a staggering 1,380 recorded executions. Iraq almost quadrupled its executions from at least 16 to at least 63 and Saudi Arabia doubled its yearly total from 172 to at least 345, while Iran executed 119 more individuals than last year rising from at least 853 to at least 972 accounting for 64% of all known executions.
Agnès Callamard, Amnesty International’s Secretary General, said:
“The death penalty is an abhorrent practice with no place in today’s world. While secrecy continued to shroud scrutiny in some countries that we believe are responsible for thousands of executions, it’s evident that countries that retain the death penalty are an isolated minority. With just 15 countries carrying out executions in 2024, the lowest number on record for the second consecutive year, this signals a move away from this cruel, inhuman and degrading punishment.
“Iran, Iraq, and Saudi Arabia were responsible for the sharp spike in deaths last year, carrying out over 91% of known executions, violating human rights and callously taking people’s lives for drug-related and terrorism charges.”
Authorities weaponising death penalty
Throughout 2024, Amnesty witnessed leaders weaponising the death penalty under the false pretence that it would improve public safety or to instil fear among the population. In the USA, which has experienced asteady upward trend inexecutionssince the end of the Covid-19 pandemic,25 people were executed (against 24 in 2023). Newly elected President Trump repeatedly invoked the death penalty as a tool to protect people “from violent rapists, murderers, and monsters”. His dehumanising remarks promoted a false narrative that the death penalty has a unique deterrent effect on crime.
In some countries in the Middle East region, death sentences were used to silence human rights defenders, dissidents, protesters, political opponents, and ethnic minorities.
Agnès Callamard added:
“Those who dare challenge authorities have faced the cruellest of punishments, particularly in Iran and Saudi Arabia, with the death penalty used to silence those brave enough to speak out.
“In 2024, Iran persisted in their use of the death penalty to punish individuals who had challenged the Islamic Republic establishment during the Woman Life Freedom uprising. Last year saw two of those people – including a youth with a mental disability – executed in connection with the uprising following unfair trials and torture-tainted ‘confessions’, proving how far the authorities are willing to go to tighten their grip on power.”
Saudi authorities continued to weaponise the death penalty to silence political dissent and punish nationals from the country’s Shi’a minority who supported “anti-government” protests between 2011 and 2013. In August, the authorities executed Abdulmajeed al-Nimr for terrorism-related offences related to joining Al-Qaeda, despite initial court documents referring to his participation in protests.
The Democratic Republic of Congo announced its intention to resume executions while Burkina Faso’s military authorities announced plans to reintroduce the death penalty for ordinary crimes.
Rise in executions for drug-related offences
Over 40% of executions in 2024 were carried out unlawfully for drug-related offences. Under international human rights law and standards, the use of the death penalty must be restricted for the ‘most serious crimes’ – sentencing people to death for drug-related offences does not meet this threshold.
Agnès Callamard said:
“Drug-related executions were prevalent in China, Iran, Saudi Arabia, Singapore and, while no confirmation was possible, likely Vietnam. In many contexts, sentencing people to death for drug-related offences has been found to disproportionately impact those from disadvantaged backgrounds, while it has no proven effect in reducing drug trafficking.
“Leaders who promote the death penalty for drug-related offences are proposing ineffective and unlawful solutions. States considering introducing capital punishment for drug-related offences, such as the Maldives, Nigeria and Tonga, must be called out and encouraged to put human rights at the centre of their drug policies.”
The power of campaigning
Despite a rise in executions, just 15 countries were known to have carried them out – the lowest number on record for the second consecutive year. As of today, 113 countries are fully abolitionist and 145 in total have abolished the death penalty in law or practice.
In 2024, Zimbabwe signed into law a bill that abolished the death penalty for ordinary crimes. For the first time, more than two thirds of all UN member states voted in favour of the tenth General Assembly resolution on a moratorium on the use of the death penalty. Death penalty reforms in Malaysia also led to a reduction by more than 1,000 in the number of people at risk of execution.
Furthermore, the world witnessed the power of campaigning. Hakamada Iwao – who spent nearly five decades on death row in Japan – was acquitted in September 2024. This has continued into 2025. In March, Rocky Myers – a Black man sentenced to death in Alabama despite serious flaws in the proceedings – was granted clemency following calls from his family and legal team, a former juror, local activists and the international community.
Agnès Callamard added:
“When people prioritise campaigning for an end to the death penalty, it really does work. Despite the minority of leaders determined to weaponise the death penalty, the tide is turning. It’s only a matter of time until the world is free from the shadows of the gallows.”
We’ve done well in raising the profile of disability-inclusive disaster risk reduction — now it’s time to deliver results on the ground.
As Sendai implementation picks up pace, I suggest five areas that could offer lasting wins for persons with disabilities – a group that comprises 15% of the global population.
In early April 2025, I had the privilege of attending the Global Disability Summit in Berlin, which was hosted by the Governments of Germany and Jordan. Held at Station Berlin, at historic Potsdamer Platz, the event brought together more than 4,000 participants from across the world to explore how we can put persons with disability at the heart of every aspect of human life, to ensure that they are fully included in our collective flourishing.
The atmosphere was truly inspiring, charged with hope, optimism and a palpable “can do” attitude. The phrase, “nothing about us, without us” rang out clearly as a powerful, heartfelt dictum. I was particularly glad to see disaster risk reduction (DRR) featuring prominently at the Summit.
While the global, national, and local discourse on the topic has come a long way, specific on-the-ground actions still need to catch up. As one speaker said during the Opening Ceremony, we need to cultivate a sense of “radical curiosity about the experiences of persons with disability.”
We’ve seen in several recent disasters that mortality and morbidity rates among persons with disability have been several times higher than the general populace – a reminder of the urgent work ahead. In the remaining five years of the Sendai Framework, if we pursue the following five strands with urgency, we will show the concrete results that we need:
1. Embed disability inclusion in DRR plans and strategies
A decade into the Sendai Framework’s implementation, the most progress has been on Target E – plans and strategies for disaster risk reduction. Yet many of these still fall short of addressing the specific needs and capacities of persons with disabilities.
These strategies must be informed not only by data and evidence – such as census information on persons with different types of physical and intellectual disabilities – but also by the lived experience of persons with disabilities themselves. To make this happen we need to build an institutional culture that is responsive to specific individual needs, especially those of the most vulnerable people.
2. Gather data on disaster impacts on persons with disabilities
The Sendai Monitor calls for disaster loss data that is disaggregated by gender, age, and disabilities. However, only a few dozen countries presently collect and report such data for persons with disabilities. In some data-scarce contexts, this may be a challenging task – especially when the baseline data on persons with disabilities don’t exist.
However, we must start somewhere. If we begin collecting data on disaster impacts on persons with disabilities now, in a few years this will throw up rich insights that can help us refine our strategies for persons with disabilities.
3. Move from policies and guidelines to specific actions:
In recent years, several countries – and sub-national bodies – have developed and adopted policies and guidelines for disability-inclusive disaster risk reduction – a close-to-home example (for me) is India, with guidelines at the national level and the sub-national level(Kerala State as one instance).
What specific actions flow from these instruments? In the context of early warning systems, we’ve seen examples of standard operating procedures developed to ensure a suite of disability inclusive actions – from accessible warning and inclusive evacuation plans to suitable evacuation infrastructure. However, such concrete actions should also extend to address comprehensive disaster risk reduction efforts.
Let’s take flood risk management as an example: if a community has to relocate away from a flood-prone settlement, how can it ensure that the new location is suitable for persons with disabilities? Or if houses are being retrofitted and being raised on stilts, how can these meet the needs of persons with disabilities? Similarly, what does it mean for persons with disabilities to “build back better” after disasters? We need to stretch our imagination of risk reduction to turn policies and guidelines into concrete inclusive actions.
4. Extend access to assistive technologies
The last decade has seen great progress in assistive technologies for persons with disabilities. Rapid advances in fields such as AI, neurosciences, and synthetic biology promise an even brighter future. But access to these technologies is highly unequal – between men and women, between developing and developed countries, between rural and urban areas, and so on.
Governments must take a proactive policy stance to address these inequalities. Could disability-disaggregated census data be used to incentivize both public and private sector investments in developing assistive technologies that are cost-efficient and affordable?
5. Ask: is it really working?
And finally, we must find smarter ways to asses our impact. A good start would be for every post-disaster “after action review” to include this key question for persons with disabilities: “Did the systems work for you?”
At UNDRR, we have made disability-inclusive DRR a priority. In my recent missions to Australia, Finland, Fiji and Germany, I was struck by deep commitment to this cause – and a rising sense of urgency – from governments. In Berlin, I had rich discussions with ministers from Italy and Scotland – both are serious about making real changes in their countries.
UNDRR has endorsed the Amman-Berlin Declaration, the fruit of the Global Disability Summit. This declaration calls for all international development programmes to be inclusive of and accessible to persons with disabilities, and for at least 15% of country-level development programmes to explicitly pursue disability inclusion as an objective: “15 percent for the 15 percent.”
We are making steady progress on disability inclusion in disaster risk reduction. With accelerated action and wider mobilization, transformational change is within reach!
Source: People’s Republic of China – Ministry of National Defense
By Yang Yuan, Zhang Boyu and Zeng Xuetong
BEIJING, Apr. 8 — Recently, the 23rd Chinese peacekeeping multi-role engineering company to the United Nations Interim Force in Lebanon (UNIFIL) dispatched an explosive ordnance disposal (EOD) team to help the South Korean peacekeeping troops neutralize expired high explosive ammunition, thereby eliminating security risks in the UNIFIL camps.
The continuing tension in southern Lebanon exacerbates the already acute challenge faced by the UNIFIL troop-contributing countries in the disposal of expired ammunition. Recently, the Chinese EOD team was assigned by the Combat Engineering Division of the UNIFIL Operations Department to destroy 277.2 kilograms of expired COMP-C4 explosives.
Prior to the operation, the Chinese peacekeepers conducted an overall security assessment of the blasting site under the control of the UNIFIL. During the process, all steps, including the movement, placement and detonation of the explosives, were conducted in strict accordance with the UN standard operating procedures. After the successful destruction of the expired high explosive ammunition, the South Korean peacekeeping troops expressed their heartfelt thanks to the Chinese EOD team.
Source: Hong Kong Government special administrative region
SFST’s opening remarks on financial services at LegCo Finance Committee special meeting Chairman and Honourable Members,
I will briefly introduce the estimates of expenditure for financial services and our key areas of work in 2025-26.
Estimates of expenditure
The allocation to the Financial Services Branch (FSB) and departments under its purview for 2025-26 is around $1.6 billion. The allocation is decreased by around $0.6 billion over the revised estimate of last year, mainly due to the one-off provision of $200 million to the Accounting and Financial Reporting Council last year, but no such special expenditure is estimated for 2025-26. Secondly, most of the system development costs of the eMPF Platform have been settled in previous years, and the eMPF Platform Company Limited has to repay a one-off cash advance to the Government, resulting in a decrease in cash flow requirement for the Platform in 2025-26. Furthermore, allocation for various funding schemes/initiatives under the “Funding for promoting and facilitating the development of the financial services sector” in 2025-26 is revised.
Key areas of work
In the coming year, our work will focus on six main themes, namely, continuously supporting the vibrant development of stock market and initial public offering (IPO) market, facilitating asset and wealth management business, attracting enterprises, boosting fintech and innovation, deepening mutual access and international co-operation and taking forward institutional reforms continuously.
(i) To continuously support the vibrant development of the stock market and IPO market, Hong Kong Exchanges and Clearing Limited (HKEX) is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to further assist specialist technology and biotechnology companies in raising funds and expanding business, facilitating the relevant companies in preparing for listing applications. Meanwhile, the Securities and Futures Commission (SFC) and the HKEX will take forward a comprehensive reform to the listing regime and review the market structure to dovetail with the latest economic trends and corporate needs, attracting more Mainland and overseas issuers to raise funds in Hong Kong as well as investors to increase their allocation to Hong Kong stocks. In addition, we will take forward various measures in facilitating financing of overseas enterprises and specific products, improving trading and risk management efficiency, and promoting trading of Renminbi (RMB) stocks, thereby driving the high-quality development of the Hong Kong securities market and creating more new growth areas.
(ii) To facilitate the asset and wealth management business, we will formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year, including expanding the scope of “fund” under the tax exemption regime and increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices. Our target is to submit the legislative proposals to the Legislative Council (LegCo) for consideration next year, and strive for the LegCo’s approval as soon as possible to apply the relevant measures with effect from the 2025-26 financial year. Furthermore, Invest Hong Kong has assisted over 160 family offices to set up or expand their businesses in Hong Kong. The third edition of the Wealth for Good in Hong Kong Summit, themed “Hong Kong of the World, for the World”, was successfully held last month, attracting around 360 family office principals and industry leaders, to showcase Hong Kong’s advantages as a leading global family office hub.
(iii) We strive to attract enterprises from the Mainland and around the world to set up headquarters or corporate divisions in Hong Kong. Meanwhile, we submitted a bill to the LegCo for the introduction of a company re-domiciliation mechanism to provide facilitation for companies domiciled overseas to re-domicile to Hong Kong. The scrutiny of the bill is approaching the final stage, and we are thankful to Members for their support. We will pursue the passage of the bill in May for it to take immediate effect.
(iv) We are at the forefront of fintech and are actively promoting innovation.
On virtual assets, we will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets, and will conduct consultation on the licensing regimes of virtual asset over-the-counter trading services and custodian services this year. The Stablecoins Bill submitted to the LegCo at the end of last year has also reached the final stage of scrutiny.
In terms of gold and commodities market, we established the Working Group on Promoting Gold Market Development last December, which will formulate a plan this year to enhance gold storage facilities, trading mechanisms, etc. The London Metal Exchange, a subsidiary of the HKEX, has included Hong Kong as an approved delivery point, further strengthening our market position.
We, together with the Office for Attracting Strategic Enterprises and the Hong Kong Trade Development Council, will host the inaugural Hong Kong Global Financial and Industry Summit this year, which will, through financial empowerment, attract more leading companies in advanced industries, domestic as well as overseas enterprises and investors to establish a foothold in Hong Kong.
On fixed income and currency hub, the SFC and the Hong Kong Monetary Authority (HKMA) have set up a task force to formulate a roadmap. We will also organise a flagship forum in the second half of this year to promote Hong Kong’s strengths in this regard. We will also conduct research into the current legal and regulatory regime related to the issuance and transactions of digital bonds and explore enhancement measures to promote the wider adoption of tokenisation in Hong Kong’s bond market.
(v) Hong Kong’s status as an international financial centre is inseparable from our connection with the Mainland and the world. To deepen mutual access and international co-operation, we will strive to enhance the mutual access mechanism. For example, we will explore extending the Cross-boundary Wealth Management Connect Scheme in the Greater Bay Area. Both places are also conducting technical preparations to implement the inclusion of RMB trading counter under Southbound trading of Stock Connect, and taking forward further expansion initiatives. Offshore RMB business is also being upgraded, with the liquidity pool expanding to approximately RMB1.1 trillion.
The Government and the HKEX will step up promotion in ASEAN (Association of Southeast Asian Nations) and the Middle East, foster financial co-operation, attract more enterprises to list in Hong Kong, and explore co-operation including listing of exchange-traded funds to promote two-way capital flows.
(vi) We will also take forward institutional reforms on different aspects continuously.
On improving trading and risk management efficiency, the HKEX is gradually conducting upgrades to its post-trade system to ensure technical compatibility with the T+1 settlement cycle by the end of this year, and will also put forward recommendations on improving the trading unit system (or so-called “board lot” system) within this year. In addition, to meet the risk management needs of investors, the SFC has consulted the market on the proposal to increase the position limits for key index derivatives, so as to enhance flexibility for investors to use the relevant derivatives while safeguarding financial safety.
On reforming the MPF (Mandatory Provident Fund) System, the MPFA (Mandatory Provident Fund Schemes Authority) commenced public consultation on the proposal of MPF “Full Portability” in late March, and will submit consultation conclusions and a legislative amendment proposal to the Government upon completion of the public consultation. Subject to the results of the public consultation, the Government will proceed with legislative amendments, so that MPF “Full Portability” could be launched soon after the full implementation of the eMPF Platform.
Chairman, my colleagues and I will be happy to answer Members’ questions. Thank you, Chairman. Issued at HKT 17:57
Source: Hong Kong Government special administrative region
Appointments to Community Involvement Committee on Greening announced The new non-official members are Dr Edmond Cheng Kam-wah, Ms Linda Ho Wai-ping, Ms Venus Kuk Wing-yee, Ms Grace Kwok May-han, Mr Lam Tak-shing, Dr Louis Lee Shing-him, Mr Warren Luk Hua and Dr Tse Wai-lok. The reappointed non-official members are Miss Linda Choy Siu-min, Dr Tony Ip Chung-man, Miss Trazy Kong Lok-yi, Ms Florence Tsui Ho-fun, Mr Wong Chung-leung and Ms Idy Wong Lai-yin.
A spokesman for the DEVB said, “The CICG comprises members from various sectors including community, construction/property management, education, green groups/industry bodies and public relations. The Committee offers valuable insights and advice on the promotion of our greening efforts and related community involvement activities.”
The spokesman also expressed gratitude to the nine outgoing non-official members, Dr Johnnie Chan Chi-kau, Ms Chan Man-kuen, Mr Cheng Ka-ho, Mr Cheung Yung-pong, Dr Jeffrey Hung Oi-shing, Ms Una Lau Yuk-min, Dr Caroline Law Man-yee, Dr Angie Ng Ying-sim and Ms Poon Wing-yi, for their invaluable advice and contributions to the CICG during their tenure.
Appointed by the Secretary for Development, members of the CICG advise the DEVB on measures to encourage quality greening and nurture a culture of tree care through civic education and community involvement activities. The membership of the new term of the CICG is set out below:
Chairman ———— Permanent Secretary for Development (Works)
Non-official members ————————— *Dr Edmond Cheng Kam-wah Miss Linda Choy Siu-min *Ms Linda Ho Wai-ping Dr Tony Ip Chung-man Miss Trazy Kong Lok-yi *Ms Venus Kuk Wing-yee *Ms Grace Kwok May-han *Mr Lam Tak-shing *Dr Louis Lee Shing-him *Mr Warren Luk Hua *Dr Tse Wai-lok Ms Florence Tsui Ho-fun Mr Wong Chung-leung Ms Idy Wong Lai-yin
Official Members ——————— Secretary for Education or representative Director of Agriculture, Fisheries and Conservation or representative Director of Civil Engineering and Development or representative Director of Environmental Protection or representative Director of Home Affairs or representative Director of Housing or representative Director of Leisure and Cultural Services or representative Deputy Secretary for Development (Works) 1
Secretary ———— Head of Greening, Landscape and Tree Management Section
Source: Hong Kong Government special administrative region
2025 Rural Representative Election voter registration campaign starts There are three types of Rural Representatives, namely Indigenous Inhabitant Representatives (IIRs), Resident Representatives (ReRs) and Kaifong Representatives (KFRs). An IIR, returned by indigenous inhabitants, their spouses or surviving spouses of an Indigenous Village/Composite Indigenous Village, is to reflect views on the affairs of the village on behalf of its indigenous inhabitants, and to deal with affairs relating to the lawful traditional rights and interests and the traditional way of life of those indigenous inhabitants. An ReR, returned by residents (both indigenous and non-indigenous inhabitants) residing in an Existing Village, is to reflect views on the village affairs on behalf of its residents. A KFR, returned by residents residing in a Market Town (i.e. Cheung Chau and Peng Chau), is to reflect views on the affairs of the Market Town on behalf of its residents.
“As the eligibility requirements for registration as electors vary for these elections, applicants should ascertain whether they meet the relevant requirements before registration,” an HAD spokesman said. “Indigenous inhabitants, their spouses or surviving spouses who have been residing in an Existing Village or a Market Town for the three years immediately preceding the date of application for registration and meet the eligibility requirements for electors in the relevant election may register as electors for both the IIR Election and the ReR Election or the KFR Election through the submission of two separate applications for voter registration.” Application forms for new voter registration and change of registration particulars by an elector can be obtained from the HAD, Home Affairs Enquiry Centres and overseas offices of the Hong Kong Special Administrative Region Government, or downloaded from the RRE website. The HAD will roll out the voter registration campaign through the RRE website, posters, newspaper advertisements and more to encourage eligible persons to register as electors and remind registered electors to update their registration particulars by the deadline.Issued at HKT 10:00
Government of India Procures 100 Lakh Bales of Cotton Under MSP Operations through its Nodal Agency 38% of total cotton arrivals procured under MSP operations up to March 31, 2025
Rs 37,450 crore paid to cotton farmers
Telangana leads with 40 lakh bales, followed by Maharashtra WITH 30 lakh bales and Gujarat WITH 14.02 lakh bales
508 procurement centers operational
Direct Aadhaar-linked payments and digital tracking through the Cott-Ally mobile app
Posted On: 08 APR 2025 3:27PM by PIB Delhi
In current cotton season 2024-25, up to March 31, 2025, Government of India, through its nodal agency, the Cotton Corporation of India Ltd. (CCI) under Ministry of Textiles has successfully procured 525 lakh quintals of seed cotton, equivalent to 100 lakh bales, under Minimum Support Price (MSP) operations. This procurement accounts for 38% of the total cotton arrivals of 263 lakh bales and 34% of the estimated total cotton production of 294.25 lakh bales in the country.
Among the states, Telangana has recorded the highest procurement at 40 lakh bales, followed by Maharashtra with 30 lakh bales and Gujarat with 14 lakh bales. Other states with significant procurement include Karnataka (5 lakh bales), Madhya Pradesh (4 lakh bales), Andhra Pradesh (4 lakh bales), and Odisha (2 lakh bales). Procurement in Haryana, Rajasthan, and Punjab stands at 1.15 lakh bales. In total, Rs.37,450 crore has been paid to approximately 21 lakh cotton farmers across all cotton producing states.
The MSP mechanism continues to provide remunerative prices to cotton farmers, protecting them from distress sales when market prices fall below the MSP. To facilitate efficient procurement, CCI has opened 508 procurement centers nationwide. Several digital initiatives have been implemented, including on-spot Aadhaar authentication, SMS notifications for payments and 100% direct payments through the National Automated Clearing House (NACH). The Cott-Ally mobile app, available in nine regional languages, enables farmers to access real-time information on MSP rates, procurement centers, and payment tracking. Further, all cotton bales produced by CCI are traceable via QR codes, by using Block-chain technology to ensure transparency and accountability.
Government of India remains committed to safeguard interests of cotton farmers through a fair, transparent and efficient procurement process.
Source: Hong Kong Government special administrative region
Executive Council gives consent to increase tramway fares (Change) Persons aged 12 or above $3.0 $3.3 (+$0.3) Children (aged 3 to 11) $1.5 $1.6 (+$0.1)??? Since its last fare adjustment in July 2022, HKT has been facing competition from other modes of public transport. Patronage has not recovered to the pre-pandemic level, while the potential to further increase non-fare box revenue, currently accounting for about 50 per cent of HKT’s total revenue, is rather limited. At the same time, the operating costs and staff costs of HKT have been rising continuously. HKT will also continue to invest in improvement projects, including the renewal of tram track and upgrading tram cars in the fleet to provide passengers with more stable rides, safer and more comfortable journeys. In addition, HKT is expected to launch a new mobile application in the second quarter of this year to provide service information, such as real-time estimated times of arrival for passengers, thus improving their ride experience. Issued at HKT 16:28
Source: United Kingdom – Executive Government & Departments
Press release
West Yorkshire manufacturer opens factory and expands global reach with UKEF support
Rosehill Polymers Group has opened a new factory in Sowerby Bridge following a previous financing agreement with UK Export Finance (UKEF) and Virgin Money.
The company now exports directly to over 60 countries, through an established network of distributors and end customers.
The financing is also supporting apprenticeship schemes and university placements in West Yorkshire, helping to develop the region’s future manufacturing workforce.
Founded in 1988, Rosehill Polymers Group is a UK manufacturer of high-performance polymer systems using recycled rubber. Its solutions are widely used across sectors such as highways, rail, energy, sport, and security infrastructure.
In 2023, UKEF, the UK government’s export credit agency, issued a credit guarantee for Rosehill under its General Export Facility. This unlocked new financing from Virgin Money, enabling Rosehill to scale its operations and invest in global growth.
Thanks in part to this financing, the company has now expanded its direct export markets from 52 to over 60 countries and opened a second factory in Sowerby Bridge. This reflects strong international demand and the versatility of its solutions across diverse applications.
In 2024–25 alone, Rosehill used the new financing to break into nine new export markets, including Chile, Colombia, the Cayman Islands, South Africa, Angola, Saudi Arabia, Turkey, Iraq, and Romania.
Further growth is anticipated in 2025, with market entries planned in Argentina, Bolivia, Panama, Suriname, French Guiana, Namibia, Malaysia, Croatia, Latvia, and Singapore.
With around 100 staff based at its West Yorkshire site, including in-house chemists and technical specialists, Rosehill continues to invest in skills through apprenticeships and university placements, ensuring a strong foundation for the future.
UKEF’s support has been instrumental in helping Rosehill drive sustainable manufacturing growth, expand its international footprint, and contribute to the UK’s global trade ambitions under the government’s Plan for Change.
Alexander Celik, CEO at Rosehill Polymers Group, said:
“Rosehill has an established history of exporting our products to several developed key markets. However, as competition within the sector increases, it is more important than ever to mirror this success elsewhere. Working with UKEF has not only enabled us to tap into the potential held within Latin America, Southeast Asia and Europe, but also expand our innovative product offering to even more customers worldwide.
“As we enter this next exciting phase of growth, our attention turns to meeting global demand, all while providing opportunities for people across Yorkshire. Our apprenticeship and placement schemes lay at the heart of what we do, and as we expand our overseas footprint, we hope to see this result in increased opportunities to attract the best talent to the industry.”
Alissia Deane, West Yorkshire Export Finance Manager at UKEF, said:
“The support provided to Rosehill Polymers highlights UKEF’s commitment to helping British SMEs achieve growth in overseas markets – something which in turn supports economic growth across the UK.
“It’s fantastic to see how our support ended up helping Rosehill to reach new export markets and develop jobs and talent in the local manufacturing industry.”
Craig Wilson, Head of FX Sales & Trade Finance at Virgin Money, said:
“Rosehill are a fabulous example of a successful and innovative UK manufacturing business growing their customer base through the world, and in the process growing their workforce locally.
“We are proud to be a key partner of Rosehill and provide some of the international tools and expertise to help them to continue to grow their already impressive international success. The current deal in conjunction with UK Export Finance is another great example of collaboration between Virgin Money and UKEF to support customers trading internationally.”
Customs today appealed to the public to stay alert to deceptive phone calls purporting to be made by the department.
Customs noted that it recently received a number of public enquiries about receiving phone calls from +852 2815 7711, which is the same number as its general enquiry hotline, or from other local mobile phone numbers.
The callers, claiming to be officers of Hong Kong Customs, tell the called party that they have seized an express parcel or cargo consignment because contraband items were found inside it.
Some of the callers also requested the called party to visit the Shenzhen Bay Control Point or other control points for investigations or penalty payments, or download unknown mobile applications.
Customs clarified that it has not made such calls, adding the incident has been reported to Police.
It reminded the public that its officers will provide relevant information to verify the identity of both parties if they need to contact them and will not request sensitive personal information nor ask them to download unofficial mobile applications.
Source: Hong Kong Government special administrative region
Opening remarks by SCS at LegCo Finance Committee special meeting Chairman,
Among the matters related to the civil service in the 2025-26 Draft Estimates of Expenditure, I would like to focus my introduction on the following items.
The first item is the civil service establishment. We have implemented the zero-growth policy in the civil service establishment since 2021-22 with the overall establishment controlled at a level not exceeding that as at end-March 2021, i.e. about 196 000 posts. With the concerted efforts of bureaux and departments, the civil service establishment has been reducing every year. It is anticipated that by March 31, 2026, the overall civil service establishment will have reduced to about 193 000 posts, i.e. a reduction by approximately 3 000 posts on a cumulative basis.
To better utilise manpower resources, we will trim the civil service establishment further, reducing it by 2 per cent each in 2026-27 and 2027-28 basing on the establishment of the preceding financial year. By April 1, 2027, about 10 000 posts are expected to be deleted from the civil service establishment within this term of Government. The resources saved will be included in the 2 per cent savings of the recurrent expenditure of the departments concerned under the Financial Services and the Treasury Bureau’s Productivity Enhancement Programme.
In addition, the Government has put forward in the Budget that for 2025-26, the executive authorities, the legislature, the judiciary and members of the District Councils take a pay freeze. This applies to members of the civil service. The effective date of the civil service pay freeze is April 1, 2025.
I understand recent concerns over the civil service establishment. Some people think that since the current vacancy rate stands at about 10 per cent, cutting the vacancies directly will achieve greater savings in expenditure. I would like to take this opportunity to clarify the matter. The reduction in the civil service establishment proposed in the Budget aims to optimise manpower arrangements through reorganisation and reprioritisation of work while maintaining the efficiency of public services. To this end, all posts, both filled and vacant, will be reviewed to ascertain the necessity to retain them. It does not mean that we can achieve the objective simply by deleting all vacant posts. For posts that are essential to the provision of public services, such as Air Traffic Control Officers and Station Officers, we have to retain them, and recruitment will continue. For posts currently occupied, they are not immune from deletion but may be deleted after the transfer of the incumbents and redistribution of work.
As a matter of fact, with the increasing workload of the Government, it requires much effort in planning for departments to cut expenditure and reduce their establishment at the same time. However, it also presents a good opportunity for them to think outside the box and adopt innovative thinking to enhance efficiency and effectiveness. The Government will continue to promote the adoption of management measures and digitalisation among departments with a view to optimising the use of civil service manpower resources and enhancing efficiency by reprioritising their work, redeploying internal resources, streamlining procedures and leveraging technology. In so doing, the leaner civil service can continue to deliver high-quality public services.
The second item is about civil service training. The Civil Service College will continue to take forward various initiatives to strengthen the governance capabilities of the civil service. The relevant estimated expenditure is about $255 million in 2025-26. The College will launch the Governance Talents Development Programme as proposed in the Policy Address to nurture governance talent with a macro perspective and professional leadership ability. It will also continuously enhance the content on technology application in civil service leadership training, enabling departmental leaders to better grasp the impact of technological development on public policy formulation and implementation. This will equip them to take on leadership responsibilities, guiding their departments to leverage technology, including optimising departmental information technology systems, better utilising big data and artificial intelligence to transform public services, and arranging appropriate training for departmental staff.
Regarding the medical and dental benefits for civil servants, the Government will continue to honour its contractual obligation as the employer and provide medical benefits for serving civil servants, pensioners and other eligible persons. The medical services provided by the Hospital Authority as part of the medical benefits have been included in the overall provision allocated to it. Regarding Families Clinic services and dental services provided by the Department of Health (including the pilot scheme on provision of dental scaling services via private dental organisations and the pilot scheme on receiving designated dental services at a medical institution in Shenzhen), a provision of around $1,158 million has been reserved. Also, we have reserved about $1,766 million to cover the expenditure on reimbursement of medical expenses that cannot be fully anticipated.
The Civil Service Bureau will continue to implement various policies and initiatives, such as strengthening civil service training, continuing to organise the Civil Service Staff Exchange and Collaboration Programme jointly with Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area and beyond, further enhancing the civil service disciplinary mechanism, implementing the two pilot schemes on dental services for civil servants, providing childcare leave for government employees, etc.
Chairman, this is the end of my introduction. I would welcome questions from Members. Issued at HKT 16:03
Source: Hong Kong Government special administrative region
Hong Kong Customs alerts public to fraudulent phone calls Customs has recently received a number of public enquiries about receiving phone calls from +852 2815 7711, which is the same number as Customs’ General Enquiry Hotline (2815 7711), or from other local mobile phone numbers. The callers claimed to be an officer of Hong Kong Customs and told members of the public concerned that they had an express parcel or cargo consignment seized by Customs because contraband items had been found therein. Some of the callers also requested members of the public to take further actions, such as visiting the Shenzhen Bay Control Point or other control points for investigations or penalty payments, or downloading unknown mobile applications.
Customs clarified that the department had not made any of the calls in question. If Customs officers need to contact members of the public, they will provide relevant information to verify the identity of both parties, but will not request the public to provide sensitive personal information nor download unofficial mobile applications.
Customs has reported the incident to the Police for follow-up investigations.
Customs reminds members of the public to remain vigilant and verify the identity of a caller when receiving any suspicious phone call, and do not disclose their personal information to others arbitrarily. If in doubt, please report to the Police immediately.
Customs said impersonating a public officer is a serious offence and urged the public not to defy the law. Issued at HKT 16:00
Prime Minister Shri Narendra Modi interacts with MUDRA Yojana beneficiaries Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet: PM
Mudra Yojana has a transformative impact in fostering entrepreneurship and self-reliance: PM
Mudra Yojana has brought a silent revolution with shift in the societal attitude about entrepreneurship: PM
Women are among the highest beneficiaries of Mudra scheme: PM
52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally: PM
Posted On: 08 APR 2025 12:03PM by PIB Delhi
The Prime Minister Shri Narendra Modi interacted with MUDRA Yojana beneficiaries on the occasion of completion of 10 years of Pradhan Mantri Mudra Yojana at 7, Lok Kalyan Marg in New Delhi today. He extended his heartfelt gratitude to all attendees, emphasizing the cultural significance of welcoming guests and the sanctity their presence brings to a home. He invited participants to share their experiences. Shri Modi, interacting with a beneficiary who has turned a pet supplies, medicines, and services entrepreneur, highlighted the importance of expressing gratitude to those who believed in one’s potential during challenging times. He asked the beneficiary to invite the bank officials who had approved loans and showcase the progress made due to the loan. Shri Modi emphasized that such actions would not only acknowledge their trust but also inspire confidence in their decision to support individuals who dared to dream big. He further noted that demonstrating the outcomes of their support would undoubtedly make them feel proud of their contribution to fostering growth and success.
Speaking to Shri Gopi Krishna, an entrepreneur from Kerala, the Prime Minister highlighted the transformative impact of the Pradhan Mantri Mudra Yojana which enabled him to transition into a successful entrepreneur, focusing on renewable energy solutions for households and offices while creating job opportunities. The Prime Minister noted the beneficiary’s journey, after deciding to resign from his company in Dubai upon learning about the Mudra Loan. He noted that the solar installations under the PM Surya Ghar initiative were completed within two days. He also heard about the reactions of beneficiaries of the PM Surya Ghar initiative, noting that households in Kerala now enjoy free electricity despite challenges such as heavy rainfall and dense tree cover. Shri Krishna remarked that electricity bills, previously around ₹3,000, have now reduced to ₹240-₹250, while his monthly earnings have reached ₹2.5 lakh and above.
The Prime Minister further interacted with a female entrepreneur and the founder of House of Puchka from Raipur, Chattishgarh, who shared her inspiring journey from cooking at home to establishing a successful café business. She said that research into profit margins and food cost management played a crucial role in this entrepreneurial success. She further added that there is fear in the minds of the youth, stating that many prefer settling into jobs rather than taking risks. The Prime Minister in response, highlighted the importance of risk-taking capacity and shared that the founder of House of Puchka, at the age of 23, leveraged her ability to take risks and her time effectively to build her business. The beneficiary remarked on the discussions among friends from Raipur, the corporate world, and students, noting their curiosity and questions about entrepreneurship. She further highlighted the lack of awareness among youth regarding government schemes that provide funding without requiring collateral. She expressed gratitude that schemes like Mudra Loan and PMEGP Loan offer significant opportunities for those with potential and encouraged the youth to research these schemes and take bold steps, stating that the sky has no limits for those willing to grow and succeed.
Another beneficiary, Shri Mudassir Naqshbandi, the owner of Bake My Cake in Baramulla, Kashmir, shared his journey of transitioning from being a job seeker to a job creator, adding that he has provided stable employment to 42 individuals from remote areas of Baramulla. The Prime Minister enquired about his earnings before receiving MUDRA loan, to which Mudassir replied that his earnings were in thousands, but his entrepreneurial journey has now elevated him to earning in lakhs and crores. The Prime Minister acknowledged the widespread use of UPI in Mudassir’s business operations. He noted Mudassir’s observation that 90% of transactions are conducted through UPI, leaving only 10% of cash in hand.
The Prime Minister then heard the inspiring journey of Shri Suresh, who transitioned from a job in Vapi to becoming a successful entrepreneur in Silvassa. Suresh said that in 2022, he realized that a job alone would not suffice and decided to start his own business. He added that with my success, some friends are now considering applying for Mudra Loans to start their own ventures. The Prime Minister emphasized the ripple effect of such success stories in motivating others to take bold steps toward entrepreneurship.
A woman entrepreneur from Raebareli, expressed her gratitude for the support extended to MSMEs under his leadership. She remarked on the ease of obtaining licenses and funding, which were previously challenging, and pledged to contribute to building a developed India. The Prime Minister acknowledged her emotional testimony and noted her success in running a bakery business with a monthly turnover of ₹2.5 to ₹3 lakh, providing employment to seven to eight individuals.
Shri Lavkush Mehra from Bhopal, Madhya Pradesh, started his pharmaceutical business in 2021 with an initial loan of ₹5 lakh. Despite initial apprehensions, he expanded his loan to ₹9.5 lakh and achieved a turnover of over ₹50 lakh, up from ₹12 lakh in the first year. The Prime Minister emphasized that the Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet. He remarked on Lavkush’s recent achievements, including purchasing a house worth ₹34 lakh and earning over ₹1.5 lakh per month, a significant leap from his previous job earning ₹60,000 to ₹70,000. The Prime Minister congratulated him and acknowledged the role of hard work in achieving success. He also urged the beneficiaries to further spread the word to people about the MUDRA loan and its benefits.
The Prime Minister then heard the inspiring journey of a young entrepreneur from Bhavnagar, Gujarat, who founded Aditya Lab at the age of 21. The entrepreneur, a final-year Mechatronics student, successfully utilized a ₹2 lakh Mudra Loan under the Kishor category to start a business in 3D printing, reverse engineering, rapid prototyping, and robotics. The Prime Minister noted the entrepreneur’s dedication, balancing college on weekdays and business operations on weekends, earning ₹30,000 to ₹35,000 monthly while working remotely with support from family.
A woman entrepreneur from Manali shared her story of working in a vegetable market to running a successful business. She said that she started with a ₹2.5 lakh Mudra Loan in 2015-16, which she repaid within two and a half years. With subsequent loans of ₹5 lakh, ₹10 lakh, and ₹15 lakh, she expanded her business from a vegetable shop to a ration shop, achieving an annual income of ₹10 to ₹15 lakh. The Prime Minister commended their determination and the positive impact of the Mudra Yojana in empowering entrepreneurs across the country.
The Prime Minister further heard the inspiring journey of a woman entrepreneur from Andhra Pradesh, who transitioned from being a housewife to running a successful business in jute bags. She remarked that after receiving training at the Rural Self Employment Training Institute in 2019, she secured a ₹2 lakh Mudra Loan from Canara Bank without any collateral. The Prime Minister noted her determination and the bank’s trust in her potential. He acknowledged her dual role as a jute faculty member and entrepreneur, commending her efforts in empowering rural women through employment and skill development. The Prime Minister remarked on the transformative impact of the Mudra Yojana in fostering entrepreneurship and self-reliance.
Prime Minister highlighted the transformative impact of the Mudra Yojana on empowering citizens, particularly women, and fostering entrepreneurship across India. He emphasized how the scheme has provided financial support to individuals from marginalized and economically disadvantaged backgrounds, enabling them to start their own businesses without requiring guarantees or extensive paperwork. Shri Modi remarked on the silent revolution brought about by Mudra Yojana, noting the significant shift in societal attitudes towards entrepreneurship. He underlined that the scheme has empowered women by not only offering financial assistance but also creating opportunities for them to lead and grow their businesses. He pointed out that women are among the highest beneficiaries of the scheme, leading in loan applications, approvals, and swift repayments.
Prime Minister Shri Narendra Modi highlighted the discipline instilled in individuals through responsible utilization of Mudra loans. He remarked that the scheme provides an opportunity to build lives and careers, while discouraging misuse of funds or unproductive efforts. The Prime Minister pointed out that ₹33 lakh crore has been disbursed to the citizens of India under the Mudra Yojana without the need for guarantees. He emphasized that this amount is unprecedented and surpasses any financial support extended to wealthy individuals collectively. He expressed his trust in the nation’s talented youth who have utilized the funds effectively to generate employment and stimulate the economy.
Shri Modi remarked that job creation through Mudra Yojana has significantly contributed to economic growth. He observed that the earnings of common citizens have increased, enabling them to improve their living standards and invest in education for their children. He acknowledged the societal benefits brought by the scheme.
Reflecting on the government’s commitment, the Prime Minister noted that unlike traditional approaches, his administration is actively seeking feedback after 10 years of the scheme’s implementation. He stressed the importance of reviewing the scheme’s progress by consulting beneficiaries and groups nationwide, identifying opportunities for improvement, and implementing necessary reforms for further success.
Highlighting the remarkable confidence displayed by the government in expanding the scope of Mudra loans, which initially ranged from ₹50,000 to ₹5 lakh, to now reaching ₹20 lakh, Shri Modi noted that this expansion reflects the trust placed in the entrepreneurial spirit and capabilities of India’s citizens, which has strengthened through the successful implementation of the scheme.
Emphasising the importance of encouraging others to leverage the Mudra Yojana and start their own ventures, Shri Modi urged individuals to inspire and support at least five to ten others, fostering confidence and self-reliance among them. He highlighted that 52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally.
Recalling his tenure in Gujarat, Shri Modi mentioned the “Garib Kalyan Mela,” where motivational street plays inspired people to overcome poverty. He shared an anecdote about individuals surrendering their government benefits after achieving financial independence, showcasing their transformation. He narrated an inspiring story of a tribal group in Gujarat who, with a small loan, transitioned from performing traditional music to forming a professional band. This initiative not only improved their financial status but also highlighted how small efforts can lead to significant changes. He remarked that such stories of transformation inspire him and reflect the potential of collective efforts in nation-building.
Shri Modi reiterated his belief in the Mudra Yojana as a tool to study and address people’s aspirations and circumstances. He expressed confidence in the scheme’s success and urged beneficiaries to give back to society, emphasizing the satisfaction derived from contributing to the community.
The Union Minister of State for Finance, Shri Pankaj Chaudhary was present during the interaction.
Mudra Yojana has given opportunities to countless people to showcase their entrepreneurial skills. Interacted with some of the beneficiaries of the scheme. Their journey is inspiring. #10YearsOfMUDRAhttps://t.co/QcoIK1VTki
PRESIDENT RECEIVES ‘CITY KEY OF HONOUR’ OF LISBON ATTENDS BANQUET HOSTED IN HER HONOUR BY THE PRESIDENT OF PORTUGAL
WE CONSIDER PORTUGAL AS OUR PARTNER IN HARNESSING INDIA’S STRENGTHS AS A KNOWLEDGE-BASED ECONOMY: PRESIDENT MURMU
Posted On: 08 APR 2025 11:44AM by PIB Delhi
The President of India, Smt Droupadi Murmu received the ‘City Key of Honour’ of Lisbon City from the Mayor of Lisbon at a function held at the City Hall of Lisbon, Portugal yesterday (April 7, 2025).
Speaking on the occasion, the President thanked the Mayor and the people of Lisbon for the gesture. She said that Lisbon is known for its open-mindedness, the warmth of its people and its culture, along with tolerance and respect for diversity. She was happy to note that Lisbon is a global city that is at the forefront of technological change, innovation, digital public infrastructure and digital transition. She said that in these areas India and Portugal could further cooperate.
Yesterday evening (April 7, 2025), the President attended a banquet hosted in her honour by the President of the Republic of Portugal, H.E. Mr Marcelo Rebelo de Sousa at Palacio da Ajuda.
In her banquet remarks, the President said that the cultural ties between our peoples span centuries, and these ties have left an indelible mark on our collective imagination. These include our shared past which is reflected in architecture, historical sites and languages, as well as our cuisines.
The President said that this year holds special significance as we celebrate 50 years of India-Portugal bilateral relations. With our natural synergy and potential for cooperation in diverse fields, our historic ties are firmly on their way to becoming a dynamic and visionary partnership. She was happy to note the steady and progressive growth in India-Portugal cooperation in various fields, including science and technology, defence, IT, start-ups, research, educational and cultural cooperation.
The President said that as a knowledge-based economy, India is harnessing its strengths in areas such as science and technology, information and communication technology, digital public infrastructure, start-ups and innovation to create an inclusive and sustainable development model that benefits all. She stated that India considers Portugal as its partner in these efforts.
The President appreciated Portugal’s role in promoting India’s relations with the European Union. She highlighted that it was during Portugal’s Presidency of the European Union that the first India-EU Summit was held in 2000, and in May 2021, once again under the Portuguese Presidency, the historic “India-EU Plus 27” Leadership Summit took place in Portugal.
The President expressed confidence that India-Portugal bilateral relations will become even closer and broader in the times to come and it will be beneficial not only for our people but for the entire world.
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced today (April 8) sector-specific support measures to further assist more small and medium-sized enterprises (SMEs) in obtaining bank financing and in their upgrade and transformation. The measures were introduced following meetings held by the Banking Sector SME Lending Coordination Mechanism (Mechanism) and the Taskforce on SME Lending (Taskforce) today.
Since the launch of the “9+5” (Note 1) SME support measures by the HKMA and the banking sector last year, more than 39 000 SMEs have benefitted from these measures, involving an aggregate credit limit of over HK$95 billion. The total amount of dedicated funds for SMEs set aside by the participating banks in the Taskforce in their loan portfolio has increased from HK$370 billion in October 2024 to more than HK$390 billion at present.
With the establishment of the Taskforce in August 2024, the HKMA and the banking sector have been actively strengthening the work of supporting SMEs at both the individual case and the industry levels. Up until the end of March 2025, the Taskforce has received around 590 enquiries and cases from various industries through different channels, of which nearly 90 per cent have been handled. At the industry level, the Taskforce has held more than 160 engagement events with trade associations and representatives from different industry sectors―including the retail and wholesale, import and export and manufacturing, construction, and transport sectors ― to gain a deeper understanding of the operations of SMEs in various industries.
In the light of the current trade tension and uncertainties surrounding the external economic environment, and after taking into account and discussing the views of the commercial sectors in the Mechanism and Taskforce meetings, the banking sector reaffirmed its commitment to actively implement the “9+5” SME support measures previously launched. The banking sector will continue to be accommodative in offering credit reliefs, including flexible repayment arrangements and deferment of repayment period, referencing the principles under the Pre-approved Principal Payment Holiday Scheme, to assist corporates in coping with their liquidity needs. Furthermore, banks will introduce more targeted support for various industries under the overarching principle of prudent risk management:
Import and export and manufacturing sectors: The commercial sectors reflected their concerns about the current global trade frictions during the meeting. The participating banks agree to provide flexible extensions to trade facilities (e.g. 90 or 120 days), or offer alternative suitable credit arrangements (such as repaying the trade loans by instalments, providing partial principal repayment options, or even offering principal moratorium), to assist individual customers experiencing short-term cashflow pressure due to trade frictions. The Mechanism and the Taskforce will closely monitor the latest developments regarding global tariff disputes and maintain dialogue with the import and export and manufacturing sectors.
Construction sector: The participating banks will assist corporates facing cashflow pressure, particularly subcontractors in the construction sector that may be experiencing sudden cashflow pressure due to capital chain rupture, through a collaborative mechanism. The banks will collaboratively offer flexible financial arrangements as far as practicable to alleviate customers’ cashflow pressure.
Transport sector: The participating banks will actively consider introducing financing products that are better suited to the transport sector, with a view to supporting the Government’s implementation of measures to enhance taxi services. The banks will offer more flexible repayment arrangements to assist customers in coping with operational challenges, taking into account individual circumstances. The banks will also consider correspondingly extending the loan tenor to support the development of the sector (Note 2).
​ Furthermore, the HKMA and the banking sector will support the economic development of Hong Kong in other areas, including:
Lease extension: The banking sector will strengthen the promotion of the Extension of Government Leases Ordinance (the Ordinance) (Note 3). Banks will ensure that frontline staff are familiar with land lease extension matters under the Ordinance, so that they can properly address customers’ mortgage enquiries related to land leases and offer suitable services to them.
Northern Metropolis development: With the HKMA’s facilitation, the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong have recently engaged with the Development Bureau to gain an understanding of the latest development of the Northern Metropolis. The banking sector will explore ways to provide suitable financing support to tie in with the Government’s implementation of large-scale land disposal and other developments.
The HKMA and the banking sector will maintain close communication with the commercial sectors through the Mechanism and the Taskforce and work in concert to support the business development and transformation of SMEs.
Background ————–
The Banking Sector SME Lending Coordination Mechanism
The Banking Sector SME Lending Coordination Mechanism was established by the HKMA in October 2019. Participants include 11 banks (Note 4) that are most active in SME lending, the Hong Kong Association of Banks (HKAB) and the HKMC Insurance Limited. Since its establishment, the HKMA and the Mechanism have rolled out several rounds of relief measures for corporates, including the Pre-approved Principal Payment Holiday Scheme and the nine SME support measures launched in March 2024.
The Taskforce on SME Lending
The Taskforce on SME Lending was jointly established by the HKMA and HKAB in August 2024. Participants include representatives of the HKMA, HKAB and 18 banks (Note 5) that are active in SME lending. The Taskforce aims to further strengthen the related work for supporting SMEs at both the individual case and the industry levels. These include setting up a mechanism to handle individual cases of SMEs encountering difficulties when obtaining bank financing, working out appropriate solutions across banks and enhancing communication among the HKMA, the banking industry and the commercial sector so as to understand the financing needs of SMEs in a more timely manner.
Note 1: The HKMA and the banking sector introduced nine measures to support SMEs’ access to financing and continuous development in March 2024, and another five measures to support SMEs’ upgrade and transformation in October 2024.
Note 2: The above-mentioned arrangements are also applicable to taxi loans, public light bus loans and commercial vehicle loans taken out by personal customers.
Note 3: Under the Ordinance, which came into effect on July 5, 2024, general purpose leases (i.e. general residential, commercial, industrial leases) will be extended upon expiry for a term of 50 years without payment of any additional premium, but subject to an annual payment of Government rent at 3 per cent of rateable value. The encumbrances, interests and rights under the original lease (such as mortgages) will be carried forward to the extended lease term without being affected, and owners are no longer required to execute lease extension documents with the Government or re-arrange mortgages. The Ordinance is not applicable to special purpose leases (SPL) (including purposes such as petrol filling station, education, recreation, public utility, welfare and special industries). The Lands Department has made an “SPL identification note” in the Land Registry register for SPLs for identification.
Note 4: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank (Hong Kong), Hang Seng Bank, The Hongkong and Shanghai Banking Corporation, Industrial and Commercial Bank of China (Asia), OCBC Bank (Hong Kong), and Standard Chartered Bank (Hong Kong).
Note 5: Including the 11 banks participating in the Mechanism, and Bank of Communications (Hong Kong), China CITIC International, Fubon Bank (Hong Kong), Fusion Bank, Nanyang Commercial Bank, PAO Bank and Shanghai Commercial Bank.
Source: Hong Kong Government special administrative region
LCSD’s “Hong Kong Artists” Series to present cross-genre arts performance “Soundscape Impressions” in May The first half of the programme opens with Debussy’s “Sonata in G minor, L. 140” and Saint-Saëns’s “Suite for Cello and Piano, Op.16”, paired with the paintings of small animals and natural scenery of the four seasons respectively to highlight the resonance between music and painting. It is followed by Ravel’s piano four-hand work “‘Ma Mère l’Oye’ (The Mother Goose) Suite”, inviting audiences into a whimsical fairytale world through the interplay of melodies and painting images. The second half features Ravel’s “Piano Trio in A minor” accompanied by paintings depicting the Hong Kong cityscape, which further explores the boundless possibilities of cross-genre artistic inspiration. This fusion also allows audiences to appreciate and interpret classical music and paintings from multiple perspectives.
Lee is currently the Honorary Artist-in-Residence of the Education University of Hong Kong and a tutor at the Hong Kong Academy for Performing Arts (HKAPA) and the Hong Kong Baptist University (HKBU). Lee has performed worldwide in solo recitals and with numerous renowned orchestras, such as Warsaw Philharmonic Orchestra, China Philharmonic Orchestra, the Israel Philharmonic Orchestra and Hong Kong Philharmonic Orchestra, among others. She has appeared in major festivals, including the Duszniki Festival Poland, Musicus Fest in Espoo, Finland and Shanghai New Music Week.
Fu currently engages in painting and art education. He is a tutor in watercolour painting courses at the School of Continuing and Professional Studies of the Chinese University of Hong Kong. His works centre on everyday scenes of life and people and have been exhibited in more than 20 countries in Europe, America and Asia. He has also received numerous awards, including the Honorable Mention Award in the 2nd International Watercolor Society India Biennale in 2017, the Special Prize in the Poland International Watercolor Competition in 2019 and the Silver Award at the third Asia Pacific Art Biennial Exhibition the following year.
Chan is a violinist sought after as a soloist and chamber player around the globe. He is a two-time Sylva Gelber Music Foundation Award recipient in Canada. In 2023, Chan won the Musicus Society’s Young Artist Audition and was selected to join the roster of Musicus Soloists Hong Kong.
Poon now serves as the Artistic Director of the Hong Kong International Cello Association and teaches at the HKAPA and the HKBU. Poon’s performance engagements with various organisations have taken her to China, Thailand, Japan, Italy, France, Spain, and more, in addition to her regular concert appearances in Hong Kong.
Young pianist Wong has given solo recitals in the United States, Europe and Asia and has performed at venues, such as the National Concert Hall in Dublin and Carnegie Hall in New York. She is a prize winner in the 2022 Steinway Förderpreis Münster and gained first prizes in the Karlovac International Piano Competition, the Valletta International Piano Competition, and more.
Source: Hong Kong Government special administrative region
Business of Innovation and Technology Week in April to showcase Hong Kong’s innovation and technology strengths The third InnoEX, co-organised by the ITIB and the Hong Kong Trade Development Council (HKTDC), will occur from April 13 to 16 at the Hong Kong Convention and Exhibition Centre (HKCEC). This annual event brings together I&T elites, enterprises and buyers from the Mainland and overseas to jointly promote I&T advancements and applications and explore global collaboration opportunities. Themed “Innovation • Automate • Elevate”, this year’s InnoEX will showcase cutting-edge technology solutions across five key areas: low-altitude economy, artificial intelligence, robotics, cybersecurity and smart mobility. A highlight of the event is the Smart Hong Kong Pavilion set up by the Digital Policy Office, which will showcase over 100 I&T solutions, including those developed by different government departments in relation to citizens’ daily lives, as well as award-winning I&T projects by local innovators and students, demonstrating Hong Kong’s achievements in I&T and smart city development.
The second Hong Kong World Youth Science Conference and the Xiangjiang Nobel Forum 2025 will also take place from April 13 to 16 at the HKCEC. Organised by the Hong Kong Alumni Association of Beijing Universities with the full support of the ITIB, the event will gather top-notch I&T talent and renowned scientists, including laureates of the Nobel Prize and Turing Award, in Hong Kong. Through keynote speeches, roundtable forums and other formats, participants will tap into global wisdom on cutting-edge topics in the areas of big data, AI, biotechnology, new materials and large models, thereby enhancing Hong Kong’s status in the international scientific arena.
Meanwhile, another major I&T highlight this April – the World Internet Conference Asia-Pacific Summit – a high-level global Internet conference, will take place on April 14 and 15 at the HKCEC. Under the theme “Integration of AI and Digital Technologies Shaping the Future – Jointly Building a Community with a Shared Future in Cyberspace”, the Summit will focus on forward-looking discussions in large AI models, digital finance, and digital government and smart life, attracting around 1 000 participants from the Mainland and overseas, including representatives from governments and enterprises, international organisations, internet giants, experts and scholars to attend in person.
The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, “This April, Hong Kong’s BIT Week will bring together I&T elites from 29 countries and regions and over 2 800 exhibitors. Through a series of exhibitions, forums, seminars, business networking, talent matching and industry events, we will showcase Hong Kong’s I&T strengths and unique edge to the world. The Hong Kong Special Administrative Region Government is particularly delighted to co-organise the Asia-Pacific Summit with the World Internet Conference for the first time in Hong Kong, creating a top-notch platform for exchanges, dialogue and co-operation in I&T, and further strengthening Hong Kong’s position as an international I&T centre.”
Other major industry events during the BIT Week include the HKTDC’s Hong Kong Electronics Fair (Spring Edition) and Smart Lighting Expo, as well as the Hong Kong Web3 Festival cohosted by Wanxiang Blockchain Labs and HashKey Group and organised by W3ME, all contributing to the prosperous development of Hong Kong’s I&T ecosystem and greater synergies.
The Prime Minister, Shri Narendra Modi today highlighted MUDRA Yojana’s pivotal impact in an interview with Economic Times. In an interview with ET, Shri Modi spoke in detail about the path-breaking impact of the Pradhan Mantri MUDRA Yojana (PMMY).
In a post on X, the Prime Minister said;
“Sharing my interview with Economic Times, where I elaborate on the life changing ability of Mudra Yojana and why it remains an important scheme in our quest for dignity and empowerment. #10YearsOfMUDRA.”
Sharing my interview with Economic Times, where I elaborate on the life changing ability of Mudra Yojana and why it remains an important scheme in our quest for dignity and empowerment. #10YearsOfMUDRA.https://t.co/W4ercecYsj
Source: Hong Kong Government special administrative region
The Chief Executive in Council today (April 8) authorised the railway scheme of the Northern Link (NOL) Main Line in accordance with the Railways Ordinance (Cap. 519).
Taking into account the pace of developments along the NOL, the NOL project is implemented in two phases. Phase 1 involves the construction of the Kwu Tung (KTU) Station above the tunnel structure of the existing Lok Ma Chau Spur Line of the East Rail Line (EAL). The construction works of the KTU Station project commenced in September 2023 with target completion in 2027 to tie in with the intake of major new population of Kwu Tung North New Development Area. Phase 2 is the NOL Main Line, which involves the construction of a 10.7-kilometre railway connecting the existing Kam Sheung Road (KSR) Station of the Tuen Ma Line (TML) and the KTU Station, with three intermediate stations at Au Tau, Ngau Tam Mei and San Tin. The detailed planning and design of the NOL Main Line have been substantially completed, and the advance works have also commenced. The target is to complete the works of the Main Line by 2034.
A Government spokesperson said, “The NOL Main Line will become the main transportation backbone of the Northern Metropolis, unleashing the development potential of land along the railway. It will also connect the existing TML and the EAL, forming a railway loop linking up the New Territories and the Kowloon urban area, substantially improving the connections of the existing railway network. When the NOL Main Line comes into operation, the expected travel time between KSR Station and KTU Station is expected to be substantially reduced from the current 60 to 80 minutes during peak hours to about 12 minutes.”
“The Government and the MTR Corporation Limited (MTRCL) have collected public views on the NOL Main Line project through various channels earlier, including consulting the North District Council and the Yuen Long District Council, exchanging views with relevant rural committees and stakeholders and organising various publicity activities in the community. The public is generally supportive of the NOL Main Line project,” the spokesman added.
The original scheme of the NOL Main Line was gazetted on October 6, 2023, with two subsequent amendments. The first amendment and correction to the scheme was gazetted on May 3, 2024, and the second amendment to the scheme was gazetted on August 30, 2024. In respect of the objections received, the Government together with the MTRCL has carefully studied the grounds of each opinion, and met with the objectors to explain the railway scheme and respond to their concerns. All of the unwithdrawn objections have been submitted to the Executive Council for consideration.
“During the implementation of the NOL Main Line project, the MTRCL will continue to maintain close communication with relevant stakeholders. Furthermore, the MTRCL is also required to comply with the conditions set out in the environmental permit issued by the Director of Environmental Protection to mitigate the environmental impacts of the works,” the spokesman said.
Pradhan Mantri Mudra Yojana (PMMY) — completes 10 glorious Years of empowering Small and Micro Entrepreneurs Launched with Prime Minister’s vision of “Funding the Unfunded”, PMMY extends collateral-free loans to small enterprises that face significant challenges in accessing formal institutional credit: Union Finance Minister Smt. Nirmala Sitharaman
PMMY is one of the most significant initiatives not only in India but also globally, aimed at promoting entrepreneurship: MoS Sh. Pankaj Chaudhary
PMMY provides easy collateral-free loans up to ₹20 lakh for non-corporate and non-farm income-generating activities
PMMY extended over ₹33.65 lakh crore through 52.37 crore loans, instilling a new sense of confidence among borrowers
Posted On: 08 APR 2025 11:27AM by PIB Delhi
The Pradhan Mantri MUDRA Yojana (PMMY), launched on 8th April 2015 by Prime Minister Shri Narendra Modi, celebrates 10 glorious years of empowering small and micro-entrepreneurs across India. Aimed at fostering financial inclusion, PMMY provides easy collateral-free loans up to ₹10 lakh for non-corporate and non-farm income-generating activities. To strengthen support for aspiring entrepreneurs, the Finance Minister announced an increase in the loan limit to ₹20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit took effect on October 24, 2024.These loans are extended through Banks, NBFCs, MFIs, and other financial institutions.
The newly announced loan category, Tarun Plus, is designed specifically for those who have previously availed and successfully repaid loans under the Tarun category, allowing them to access funding between ₹10 lakh and ₹20 lakh. Additionally, the Credit Guarantee Fund for Micro Units (CGFMU) will now provide guarantee coverage for these enhanced loans, further reinforcing the government’s commitment to nurturing a robust entrepreneurial ecosystem in India.
Micro, Small, and Medium Enterprises (MSMEs) play a vital role as ancillary units, complementing large industries and significantly contributing to the country’s inclusive industrial growth. These enterprises are continually expanding their presence across various sectors of the economy, offering a diverse array of products and services to meet both domestic and international market demands.
The availability of credit for MSMEs has seen consistent growth, driven by advancements in technology and data-driven lending practices. A notable government initiative supporting MSMEs’ access to credit is the Pradhan Mantri MUDRA Yojana, aptly described as a scheme dedicated to “Funding the Unfunded”.
On the occasion of the 10th successful year of PMMY, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman said, “The Pradhan Mantri MUDRA Yojana (PMMY) was launched by Prime Minister Shri Narendra Modi, with the mission of empowering hardworking micro-enterprises and first-generation entrepreneurs. Guided by the Prime Minister’s vision of “Funding the Unfunded”, the scheme extended collateral-free loans to bridge the gap in timely and affordable financing for small enterprises that faced significant challenges in accessing formal institutional credit.”
Highlighting PMMY’s role in Empowering Millions and Fulfilling the Vision of Inclusive Growth, Union Minister of Finance remarked, “With over Rs.33.65 lakh crore sanctioned to more than 52 crore MUDRA loan accounts, the scheme has proved to be an important milestone in giving wings to the aspirations of crores of entrepreneurs, particularly those belonging to marginal sections of society.
Since 2015, Rs.11.58 lakh crores worth of MUDRA loans have been sanctioned to various marginalised communities belonging to Scheduled Castes, Scheduled Tribes and OBCs realising PM’s mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayaas’”
Union Finance Minister Smt. Nirmala Sitharaman lauded the scheme’s impact with MUDRA: Fueling Women’s Entrepreneurship and Economic Growth, stating, “It is heartening to note that nearly 68% of the total MUDRA loan accounts have been sanctioned to women, becoming a tool for empowerment and enabling women to national economic growth, and inspire the next generation of female entrepreneurs.
In line with the Budget 2024-25 announcement, the introduction of the Tarun-Plus category last year, with an increased loan limit of ₹20 lakh, will further help thriving entrepreneurs expand and unlock their full potential.”
On the occasion, Union Minister of State (MoS) for FinanceShri Pankaj Chaudhary said,“The Pradhan Mantri MUDRA Yojana (PMMY) is one of the most significant initiatives not only in India but also globally, aimed at promoting entrepreneurship. Financial inclusion is one of the top priorities of the government, as it plays a vital role in achieving inclusive growth. PMMY provides a platform for small entrepreneurs to access loan support from banks, NBFCs, and MFIs.”
“While launching the scheme, Prime Minister stated that supporting India’s small entrepreneurs is one of the most effective ways to help the Indian economy grow and prosper. The scheme has provided crucial financial assistance to a vast number of entrepreneurs, helping them set up and operate their businesses and instilling a sense of financial security in them.
It has created self-employment opportunities across the country, especially for marginalized sections of society, including Scheduled Castes/Scheduled Tribes, Other Backward Classes (50% of loan beneficiaries), and women (68% of loan beneficiaries).” MoS added
Stressing on Mudra’s impact MoS said ” The core objective of the MUDRA Yojana is “Funding the Unfunded.” The scheme has successfully ended the exploitation of India’s small entrepreneurs by informal lenders. In less than a decade, it has extended over ₹33.65 lakh crore through 52.37 crore loans, instilling a new sense of confidence among borrowers. This clearly reflects the government’s firm commitment to support their efforts and its accelerated journey toward making India a developed nation by 2047 through inclusive growth enabled by financial inclusion.”
As we celebrate completion of glorious 10 years of providing financial inclusion through the pillars of Pradhan Mantri MUDRA Yojana (PMMY), let us glance through some of the major features and achievements of the Scheme:
The implementation of financial inclusion programme in the country is based on three pillars, namely,
1. Banking the Unbanked
2. Securing the Unsecured and
3. Funding the Unfunded
These aforesaid three objectives are being achieved through leveraging technology and adopting multi-stakeholders’ collaborative approach, while serving the unserved and underserved as well.
One of the three pillars of FI – Funding the Unfunded, is reflected in the Financial Inclusion ecosystem through PMMY, which is being implemented with the objective to provide collateral free access to credit for small/ micro entrepreneurs.
Key Features of PMMY:
MUDRA loans now will be offered in four categories namely, ‘Shishu’, ‘Kishor’, ‘Tarun’ and newly added category ‘Tarun Plus’ which signifies the stage of growth or development and funding needs of the borrowers: –
Shishu: covering loans upto Rs. 50,000/-
Kishor: covering loans above Rs. 50,000/- and up to Rs. 5 lakhs
Tarun: covering loans above Rs. 5 lakh and up to Rs. 10 lakhs
Tarun Plus: Rs. 10 lakh and up to Rs. 20 lakhs
Loans cover term financing and working capital needs across manufacturing, trading and service sectors, including activities allied to agriculturelike poultry, dairy, and beekeeping, etc.
The interest rate is governed by RBI guidelines, with flexible repayment terms for working capital facilities.
Achievements under Pradhan Mantri Mudra Yojana (PMMY) as on 21.03.2025
Women Borrowers: A total of ₹ 8.49 lakh crore was disbursed under the Shishu category, ₹ 4.90 lakh crore under Kishor, and ₹ 0.85 lakh crore under the Tarun category.
Minority Borrowers: The disbursements amounted to ₹ 1.25 lakh crore under Shishu, ₹ 1.32 lakh crore under Kishor, and ₹ 0.50 lakh crore under Tarun.
New Entrepreneurs / Accounts:
Shishu category: 8.21 crore accounts with a sanctioned amount of ₹ 2.24 lakh crore and disbursed amount of ₹ 2.20 lakh crore.
Kishor category: 2.05 crore accounts with ₹ 4.09 lakh crore sanctioned and ₹ 3.89 lakh crore disbursed.
Tarun category: 45 lakh accounts with a sanctioned amount of ₹ 3.96 lakh crore and ₹ 3.83 lakh crore disbursed.
Category-wise breakup:- (Number of loans and amount sanctioned)
Category
Percentage as per No. of Loans
Percentage as per Amount Sanctioned
Shishu
78%
35%
Kishor
20%
40%
Tarun
2%
25%
Tarun Plus
0%
0%
Total
100%
100%
Targets have been achieved since the inception of the Scheme, except for FY 2020-21 due to COVID-19 pandemic.
Year-wise sanction amount is as under:-
Financial Year
No. of Loans Sanctioned
(in Crore)
Amount Sanctioned
(Rs. in Lakh Crore)
2015-16
3.49
1.37
2016-17
3.97
1.80
2017-18
4.81
2.54
2018-19
5.98
3.22
2019-20
6.23
3.37
2020-21
5.07
3.22
2021-22
5.38
3.39
2022-23
6.24
4.56
2023-24
6.67
5.41
2024-25
(as on 21.03.2025) *
4.53
4.77
Total
52.37
33.65
Special Initiatives:
A Credit Guarantee Fund for Micro Units (CGFMU) was established in 2016 to secure loans under PMMY.
An Interest Subvention of 2% was provided on Shishu loans during FY 2020-21 under Aatma Nirbhar Bharat Abhiyan, reducing the cost of credit for eligible borrowers.
As India celebrates 10 glorious years of PMMY, it reaffirms the government’s commitment to “Banking the Unbanked,” “Securing the Unsecured,” and “Funding the Unfunded,” fostering financial inclusion and supporting entrepreneurial dreams.
#10YearsofMudra A Decade of Empowering Dreams! From ₹1.37 Lakh Cr (2015-16) to ₹33.65 Lakh Cr (2024-25) —2322% growth in loans sanctioned to entrepreneurs. India rises, one dream at a time pic.twitter.com/NccNnn7oTC
Celebrating the glorious years of Pradhan Mantri Mudra Yojana! With 70% of loans going to women, and a 160% rise in the average loan amount—from ₹24,746 in 2015-16 to ₹64,537 in 2024-25—PMMY is truly preparing Sashakt Naari for a Svarnim Bhavishya #10YearsofMudrapic.twitter.com/SrwBwlmO7K
Empowering Businesses Across India! Collateral-free Mudra loans support manufacturing, services, trading, and agri-allied sectors. Over 52 Cr loans worth ₹33+ Lakh Cr sanctioned—70% to womenpreneurs, 50% to SC/ST/OBC, and 31% to new entrepreneurs. #10YearsofMudrapic.twitter.com/U2WaiOpXMj
Celebrating the glorious years of #PMMY—empowering entrepreneurs with collateral-free loans under four categories: Shishu (up to ₹50K), Kishor (₹50K–₹5L), Tarun (₹5L–₹10L), and Tarun Plus (₹10L–₹20L) for those who’ve successfully repaid Tarun #10YearsofMudrapic.twitter.com/Ic31SanRA2
DDWS joins hands with Ministry of Women and Child Development for Poshan Pakhwada 2025, promoting “Shuddh Jal aur Swachhta Se SwasthBachpan” campaign 7th edition of Poshan Pakhwada from 8th to 23rd April 2025 “Purn Poshan Ki Shuruwaat, Shuddh Jal aur Swachhta Ke Saath” will be the campaign tagline
The campaign focusing on clean water practices and sanitation as crucial elements for a child’s nutrition and overall health
Extensive awareness generation sessions and sensitisation activities to be carried out by States/ UTs
Posted On: 08 APR 2025 2:57PM by PIB Delhi
Department of Drinking Water and Sanitation (DDWS) under Ministry of Jal Shakti, is actively participating in the 7thedition of Poshan Pakhwada from 8thto 23rdApril 2025. Aligning with the Ministry of Women and Child Development’s Saksham Anganwadi scheme, the department’s campaign is themed “Shuddh Jal aur Swachhta Se SwasthBachpan” (Clean Water and Sanitation for Healthy Childhood), with a tagline “Purn Poshan Ki Shuruwaat, Shuddh Jal aur Swachhta Ke Saath” focusing specifically on clean water practices and sanitation as crucial elements for a child’s nutrition and overall health.
Poshan Pakhwada aims to combat malnutrition through behaviour changes at individual, family, and community levels, highlighting four key areas:
Emphasis on the first 1000 days of human life
Popularization of the Beneficiary Module in the Poshan Tracker App
Effective management of malnutrition through the CMAM module
Promotion of healthy lifestyles to address childhood obesity
States/ UTs will conduct extensive community-level activities to underline the critical role of safe drinking water and sanitation practices in preventing malnutrition and diseases.
Planned activities include:
Shuddh Jal and Swachhta Drive:Conducting community sessions on safe drinking water, sanitation practices, hand hygiene, composting, and waste management.
Capacity Building for Anganwadi Workers:Sensitization sessions and training on safe water consumption and good sanitation practices to aid in better counselling for mothers.
Awareness Generation for Lactating Mothers:IEC activities by Anganwadi and ASHA workers on safe drinking water and sanitation to enhance community health.
Smart Poshan Anganwadi Certification:Recognizing top-performing Anganwadi Centers for maintaining high hygiene and nutrition standards.
Swachh Jal, Sundar Aangan Initiative:Improving sanitation facilities at Anganwadi centers with community and Self-Help Groups (SHGs) involvement, including murals and child-friendly water stations.
Awareness Rallies:Community mobilization focusing on preventing waterborne diseases through proper sanitation and hygiene.
Department will also complement the efforts of WCD by promoting the campaign over social media platforms which is an integral part of the campaign, utilizing hashtags #DDWSJoinsPoshanPakhwada and #PoshanPakhwada to maximize outreach and impact.
Through these collective efforts, including WASH (Water, Sanitation, and Hygiene) initiatives, the Jal Jeevan Mission, and the Swachh Bharat Mission-Grameen, Poshan Pakhwada aims to create enduring awareness and drive substantial behavioral change in rural communities, enabling improved health, sanitation, and nutrition for every child in India.
Department of Financial Services (DFS) has notified amalgamation of 26 Regional Rural banks (RRBs) on the principles of “One State One RRB”. This is fourth phase of amalgamation of RRBs.
Considering the improvement in efficiency of the RRBs due to amalgamations in the past, Ministry of Finance had rolled out an amalgamation plan in November-2024 for consultation with stakeholders. After consultation with stakeholders, amalgamation of 26 RRBs in 10 States and 1 UT have been carried out with primary focus on improvement in scale efficiency and cost rationalization.
At present, 43 RRBs are functioning in 26 States and 2 UTs. Post amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22000 branches covering 700 districts. Their predominant area of operation is in rural areas with approx. 92% of branches in rural/semi urban areas.
This is fourth phase of amalgamation. In previous 3 phases viz. Phase-I (FY 2006 to FY 2010) number of RRBs were reduced from 196 to 82, Phase-2 (FY 2013 – FY 2015) number of RRBs were reduced from 82 to 56 and Phase-3 (FY 2019 to FY 2021) number of RRBs were reduced from 56 to 43.
Source: Hong Kong Government special administrative region
New batch of declarations for “Well-off Tenants Policies” and “Occupancy Status” commences The Hong Kong Housing Authority (HA) has distributed the “Well-off Tenants Policies” (WTP) declaration forms and “Declaration Form on Occupancy Status” to approximately 210 000 public rental housing (PRH) tenants involved in the new batch of declaration cycle of WTP. A spokesman for the HA today (April 8) reminded the relevant tenants that they must return the completed forms to the Housing Department (HD) by May 31 this year.
Both declaration forms were delivered into the letter boxes of the tenants concerned on April 1. Tenants are required to declare their income, assets, and any domestic property ownership in Hong Kong in the WTP declaration forms, as well as confirm their regular and continuous residence in the PRH flats and report any left vacant or unauthorised use of the PRH flats in the “Occupancy Status” declaration forms.
The spokesman reminded tenants and their family members that they must truthfully make declarations. Those who knowingly made false declarations may be prosecuted. Tenants should note the following key points:
(i) Tenants who refuse to declare will have their tenancies terminated; (ii) Tenants must declare honestly to the HA their occupancy status, income, assets, and any domestic property ownership in Hong Kong; including any household members who have signed purchase agreements (including preliminary agreements) or acquired any domestic properties (including uncompleted flats), along with the expected date of assignment and completion of transactions; (iii) PRH households whose tenancies are terminated due to abuse of PRH resources and breaches of the tenancy agreement, such as abandoning or subletting the units or using the units for illegal use, will be ineligible to apply for PRH for five years; (iv) For households whose tenancies are terminated under the WTP due to ineligibility for continuous renting of PRH flats, the member(s) who have made false declarations will be subject to a five-year debarment from applying for PRH and are liable to prosecution;
Under the prevailing WTP, PRH tenants who have resided for 10 years are required to declare their income, assets and property ownership in Hong Kong every two years. Except for the aforesaid tenants, other tenants will receive declaration forms in later batches and do not need to worry.Issued at HKT 17:00