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  • MIL-OSI Australia: International visitors flock to Greater Bendigo

    Source: New South Wales Ministerial News

    International visitors are spending more money and staying longer in the Bendigo Loddon region, according to the latest figures from Tourism Australia.

    New data for the year ending 2024 shows the region is almost back to pre-pandemic international tourist numbers and smashing international visitor spend records.

    There were 27,000 overnight international visitors compared to 16,000 in 2023. This is a 68 per cent increase. International visitor spending has significantly increased to $37 million, compared to $14 million ten years ago.

    City of Greater Bendigo Manager Economy & Experience James Myatt said the Bendigo Loddon region was a key destination of choice for international tourists visiting Victoria.

    “It is fantastic to see more people from overseas coming to the region and spending a lot more time here,” Mr Myatt said.

    “We know that international visitors are drawn to our Gold Rush heritage, arts and cultural experiences, farm stays, beautiful natural landscapes, and food and wine offerings.

    “Popular attractions amongst international visitors include Bendigo Tramways, Central Deborah Gold Mine, The Great Stupa, Bendigo Art Gallery, Bendigo Pottery, Dumawul Tours, and the Golden Dragon Museum.

    “Greater Bendigo is also a key destination on the Sydney Melbourne Inland Discovery drive, a self-drive touring route promoted primarily in the United States, UK, Europe, and New Zealand tourism markets throughout the year.

    “Over the past ten years, the City has focused on attracting and marketing major events and developing highly engaging destination marketing and activation campaigns.

    “The figures show strong growth in the international market and people want to visit Greater Bendigo for the range of experiences we offer all year round.

    “The survey results prove our strategies are working. The passion and commitment from many tourism operators contribute to this very positive trend.”

    The City has hosted over 50 travel agents from across the world over the past nine months, giving them the opportunity to experience attractions firsthand. That knowledge is shared with their teams and potential visitors from their countries.

    The City held a training session with Visit Victoria earlier this year to guide local tourism and service operators on how to attract international visitors.

    Key destination campaigns, such as the tulip displays during Bloom and major events like the Bendigo Easter Festival are promoted to Melbourne’s Indian and Chinese communities, attracting families and their visiting friends and relatives from overseas.

    The Greater Bendigo region is being represented at the Australian Tourism Exchange (ATE) this week in Brisbane, the largest international trade show hosted by Tourism Australia. Over 100 meetings are organised with media and travel agents from around the world to promote Greater Bendigo’s unique visitor destination offerings. For the first time, representatives from Greater Bendigo have also been invited to showcase Agri-tourism experiences in the region.

    “We see some great opportunities to build business at ATE with key decision makers who promote Australia across the world. In particular, our focus is on attracting visitation from the UK, Europe, New Zealand, India, China and South East Asia markets,” Mr Myatt said.

    Tourism Research Australia is the country’s leading provider of quality tourism intelligence across both international and domestic markets. Their data underpins government tourism policy and helps improve the performance of the tourism industry for the benefit of the Australian community.

    MIL OSI News –

  • MIL-OSI USA: Shaheen, Colleagues Introduce Bipartisan America the Beautiful Act

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) joined her colleagues, U.S. Senators Steve Daines (R-MT) and Angus King (I-ME), to introduce their bipartisan conservation bill, the America the Beautiful Act. This legislation builds on the 2020 Great American Outdoors Act, which Shaheen cosponsored, by strengthening and reauthorizing the Legacy Restoration Fund (LRF) and addressing the serious maintenance backlog in national parks and public lands.
    “New Hampshire’s public lands and outdoor spaces are integral to our state identity and our thriving outdoor recreation economy. We must take steps to protect these resources for future generations of Granite Staters,” said Shaheen. “I was proud to see the Great American Outdoors Act become law, and I’ll continue fighting to protect and preserve outdoor spaces by passing this legislation which will continue the progress we’ve made.” 
    Shaheen, Daines and King were joined by U.S. Senators Kevin Cramer (R-ND), Mark Warner (D-VA), Tim Sheehy (R-MT) and Lisa Murkowski (R-AK) in introducing the bill.
    The America the Beautiful Act reauthorizes the LRF through 2033 and increases funding to $2 billion per year to help address the maintenance backlog in national parks and public lands. Currently, the maintenance backlog for each agency is $23.26 billion for the U.S. Park Service, $8.695 billion for the U.S. Forest Service, $2.65 billion for the U.S. Fish and Wildlife Service, $5.72 billion for the U.S. Bureau of Land Management and $804.5 million for the U.S. Bureau of Indian Education. In New Hampshire, National Parks and U.S. Fish and Wildlife Refuges have approximately $13 million in outstanding deferred maintenance needs.
    Since its creation in 2020, the LRF has benefitted numerous national parks and public lands in New Hampshire. Saint-Gaudens National Historical Park has received more than $14 million from the Legacy Restoration Fund to rehabilitate four historic structures and address electrical, HVAC and alarm systems. Across the White Mountain National Forest, the Legacy Restoration Fund is supporting trail restoration work on the Ammonoosuc Ravine Trail and Rumney Rocks Climbing Area, as well as repairs of the Tripoli Bridge. Sections of the Appalachian National Scenic Trail across New England are slated to receive $15 million in FY25 to rehabilitate and repair facilities along the trail that will address maintenance needs and improve visitor safety. 
    The America the Beautiful Act is supported by over 40 public lands, conservation and recreation groups. Click here to view the full list of statements of support and supporting groups.
    You can read the full bill text here.
    Shaheen has led efforts to safeguard our natural environment and invest in climate resiliency while boosting New Hampshire’s recreation economy. Shaheen led the bipartisan Outdoor Recreation Jobs and Economic Impact Act into law to require the federal government to measure the impact of the outdoor recreation on the economy. In November 2024, Shaheen applauded the release of an annual report showing a $1.2 trillion economic contribution by the outdoor recreation sector in 2023, including $3.9 billion in New Hampshire. Shaheen also helped reintroduce the Ski Hill Resources for Economic Development (SHRED) Act to fuel investment in outdoor recreation in national forests that benefits mountain communities.
    Shaheen has also led efforts to help secure full funding and permanent authorization for the Land and Water Conservation Fund (LWCF), which has helped protect more than 2.5 million acres of land and supported tens of thousands of state and local outdoor recreation projects throughout the nation. In 2020, Shaheen helped lead the Great American Outdoors Act into law to permanently fund the LWCF and provide mandatory funding for deferred maintenance on public lands.  

    MIL OSI USA News –

  • MIL-OSI USA: Cortez Masto, Rounds Reintroduce Bipartisan Legislation to Provide Tribal Courts Access to Electronic Evidence

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto

    Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Mike Rounds (R-S.D.) reintroduced the Tribal Access to Electronic Evidence Act, bipartisan legislation to provide Tribal courts the same ability to issue warrants for electronic evidence – such as emails, social media messages, and other online communications – as their non-Tribal counterparts.

    “All law enforcement agencies across the Silver State should have the same access to electronic evidence needed to deliver justice and closure to the victims of crimes and their families,” said Senator Cortez Masto. “It is time that Congress pass this commonsense, bipartisan legislation to give Tribes the tools they need to protect their communities.”

    The commission created by Cortez Masto’s Not Invisible Act — which was signed into law alongside her Savanna’s Act in October 2020 — issued a report with dozens of recommendations to improve the federal response to the Missing and Murdered Indigenous Women (MMIW) crisis. One key congressional recommendation was to address the challenges Tribes face in accessing essential electronic information for criminal investigations. The bipartisan Tribal Access to Electronic Evidence Act would amend current law to:

    • Include courts of federally recognized Tribes as “courts of competent jurisdiction” under the Stored Communications Act,
    • Require Tribal courts to adhere to warrant procedures described in the Indian Civil Rights Act to access electronic information, and
    • Recognize Tribes as a government entity under the federal statute.

    This bipartisan bill has been endorsed by the National Native American Bar Association, the National American Indian Court Judges Association, and the National Native American Law Enforcement Association.

    The full text of the legislation can be found here.

    Senator Cortez Masto has long been a champion for Tribal communities. Last year, the Senate passed both her legislation to make it easier for Indian Health Services to recruit and retain doctors and her legislation to strengthen Tribal public safety. She repeatedly called on the Biden administration to do more to address the epidemic of violence against Native women and girls, including securing federal funding to protect Native communities, urging the administration to draft a plan to address this issue, and requesting the Government Accountability Office (GAO) investigate the federal response to this crisis.

    MIL OSI USA News –

  • MIL-OSI Security: Marty Man Sentenced to 18 Years in Federal Prison for Assault Resulting in Serious Bodily Injury and Kidnapping

    Source: Office of United States Attorneys

    SIOUX FALLS – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Roberto A. Lange has sentenced a Marty, South Dakota, man convicted of Assault Resulting in Serious Bodily Injury and Kidnapping. The sentencing took place on April 25, 2025.

    Ellery Zephier, age 39, was sentenced to 18 years in federal prison, followed by five years of supervised release, and a special assessment to the Federal Crime Victims Fund in the amount of $200, and restitution in the amount of $22,260.

    Zephier was indicted by a federal grand jury in August 2024. Following his trial in January, he was found guilty. The conviction stemmed from incidents between July 20-25, 2024, when Zephier kidnapped and held a woman against her will in his home in Marty and assaulted her resulting in the infliction of serious bodily injury.

    This matter is being prosecuted by the U.S. Attorney’s Office because the Major Crimes Act, a federal statute, mandates that certain violent crimes alleged to have occurred in Indian Country be prosecuted in federal court as opposed to State court.

    This case was investigated by the FBI and the Yankton Sioux Law Enforcement. Assistant U.S. Attorneys Paige Petersen and Ann M. Hoffman prosecuted the case.

    Zephier was immediately remanded to the custody of the U.S. Marshals Service. 

    MIL Security OSI –

  • MIL-OSI Security: Vero Beach Meth Dealer Sentenced to 14 years in Prison

    Source: Office of United States Attorneys

    MIAMI – On April 30, Denzil Olajuwon Stewart, 30, was sentenced to 144 months in federal prison, followed by five years of supervised release, by U.S. District Judge Donald M. Middlebrooks, for selling 276.7 grams of pure methamphetamine. 

    On Dec. 28, 2023, law enforcement officers observed Stewart drive away from his Vero Beach home in a white Porsche SUV, arrive at another residence about 30 minutes away, and sell what they later discovered was 276.7 grams of pure methamphetamine. The methamphetamine was packaged in a plastic shopping bag, which bore Stewart’s fingerprints.

    A jury found Stewart guilty of conspiracy to possess with intent to distribute 50 grams or more of methamphetamine actual, and distribution of 50 grams or more of methamphetamine actual.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; Special Agent in Charge Deanne L. Reuter of the DEA, Miami Field Division, and Indian River County Sheriff Eric Flowers made the announcement. 

    DEA Port Saint Lucie and the Indian River County Sheriff’s Office investigated the case. Assistant U.S. Attorneys Christopher Hudock and Michael Porter prosecuted it.

    You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at https://www.justice.gov/usao-sdfl.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov under case number 24-cr-14058.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Ashland man sentenced to more than 12 years in prison for trafficking meth on the Northern Cheyenne Indian Reservation

    Source: Office of United States Attorneys

    BILLINGS – An Ashland man who trafficked methamphetamine on the Northern Cheyenne Indian Reservation was sentenced today to 151 months in prison to be followed by 4 years of supervised release, U.S. Attorney Kurt Alme said.

    Joe Vega, 49, pleaded guilty in July 2024 to possession with intent to distribute methamphetamine.

    U.S. District Judge Susan P. Watters presided.

    The government alleged in court documents that in December of 2023, the FBI began an investigation into Joe Vega for the distribution of methamphetamine. One source reported purchasing methamphetamine from Vega a dozen times.

    In April of 2024, the FBI intercepted a package from Arizona destined for Vega’s Billings address. Agents obtained a search warrant for the package and discovered 1331.5 grams of meth, almost three pounds, that was 100% pure.

    The FBI later learned Vega was traveling to Arizona, possibly to pick up methamphetamine. On April 22, 2024, a Montana Highway Patrol trooper conducted a stop of the vehicle in which Vega was a passenger. Vega and the driver consented to a search and law enforcement found two pounds of methamphetamine in a bag belonging to Vega. That meth was also 100% pure.

    Assistant U.S. Attorney Julie Patten prosecuted the case. The investigation was conducted by the FBI, with the assistance of BIA, Montana DCI, and the Montana Highway Patrol.

    The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

    MIL Security OSI –

  • MIL-OSI USA: Senators Murray, Wyden, and Padilla and West Coast Ports Sound Alarm on Trump’s Tariffs Leaving Shelves Bare, Forcing Painful Layoffs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    ***WATCH THE FULL PRESS CONFERENCE HERE; DOWNLOAD HERE***
    Washington, D.C. — Today, U.S. Senators Patty Murray (D-WA), Ron Wyden (D-OR), and Alex Padilla (D-CA) held a virtual press call alongside West Coast ports to sound the alarm on the dramatic decline of container ships making the trip to West Coast ports and the harmful consequences of Trump’s tariffs across the American economy—price hikes, layoffs, empty store shelves, and more.
    The Senators were joined by Mario Cordero, Chief Executive Officer of the Port of Long Beach; Ryan Calkins, Port of Seattle Commissioner; and Dick Marzano, Port of Tacoma Commissioner. The press call comes just one day after the overwhelming majority of Senate Republicans rejected a bipartisan resolution led by Senator Wyden and unanimously supported by Democrats to repeal President Donald Trump’s global tariffs.
    A new forecast by Apollo Global Management contends that the U.S. economy is on the verge of a self-inflicted recession as a result of Trump’s tariff policies, drawing a plain timeline from Trump’s so-called “Liberation Day” on April 2nd to a dramatic slowdown of container ships making their way to U.S. ports. Apollo predicts this slowdown of container ships will lead to a sharp decrease in trucking demand by mid-to-late May, which will subsequently result in supply shortages and lower sales for retailers. By late May to early June, Apollo predicts layoffs will occur across trucking and retail industries and that the U.S. economy will fall into a recession by this summer.
    During the call, the West Coast Senators sounded the alarm on the major warning signs for the economy and continued to urge their Republican colleagues to join them in asserting Congressional authority over tariffs to put an end to Trump’s trade war and minimize the economic damage already inflicted by the President.
    “We are already seeing the consequences of Trump’s tariffs at our ports: fewer ships from across the Pacific, means less cargo at our ports, less cargo at our ports means less goods for our truckers to transport—and that ultimately means bare shelves for our retailers and the American consumer,” said Senator Murray. “Our ports know better than anyone that supply chains do not reset in an instant. The time to reverse these Republican tariffs was the same day they were announced. Every day This Republican Congress refuses to reject these tariffs is a day they are actively enabling Trump’s pro-recession agenda and higher taxes on every American. Congress needs to take the matches away from the President who is setting fire to the economy. Democrats are going to make sure Republicans continue to feel the pressure until this Congress takes action and overrides this President.”
    “Oregon knows firsthand that Trump’s tariff chaos is already hurting small businesses and drying up markets for red-white-and-blue products,” said Senator Wyden. “Speaking with small businesses and workers all over Oregon last week, every single one warned of damage from tariffs in the near future. West Coast senators will be on the front lines pushing back against these senseless Republican tariffs.”
    “California’s Ports of Los Angeles and Long Beach are keystones for the success of not just our state’s economy, but our national economy. So when the San Pedro Bay ports and other West Coast ports send warning signs about the damage of Trump’s tariffs, we know they’re really warning signs for our country,” said Senator Padilla. “The drop in cargo volume caused by Trump’s tariffs will mean empty shelves when products don’t reach our stores, rising prices on everything from groceries to clothes to cars, and undoubtedly, more Americans out of work. While today, it’s Western ports — we know it will only be a matter of weeks before the ripple effect causes pain across the nation.”
    “We take our mission as ports seriously because a lot is at stake. The current tariffs will have far-reaching consequences for Washington businesses and consumers, and the thousands of jobs that rely on international trade. We are fortunate to have such a great advocate in Senator Murray and are grateful for her continued attention to these critical issues,” said Northwest Seaport Alliance Managing Member and Port of Tacoma Commissioner, Dick Marzano.
    “At the Northwest Seaport Alliance, we have already started to see serious impacts of the tariff war on our docks. As our policy makers address economic and security concerns with international trading partners, we encourage them to tread carefully in order to preserve space for a commercial relationship. We thank Senator Murray for her advocacy for policies that support Washington businesses, jobs, and communities,” said Northwest Seaport Alliance Managing Member and Port of Seattle Commissioner, Ryan Calkins.  
    “As one of America’s largest ports, Long Beach moves more than $300 billion in cargo every year to and from every congressional district, supporting 2.7 million jobs. Due to the new trade policies, we are about to see a shift from cargo surge to cargo slowdown in the supply chain, and this will have a real impact on the American economy. For workers across the country whose jobs depend on cargo moving through the Port of Long Beach – dockworkers, truckers, logistics workers, retailers, farmers, factory workers – any sort of long-term, sustained downturn in shipments caused by the tariff will be detrimental to the job market. I remain hopeful that leaders in our nation’s capital recognize the significance of the goods movement industry and will take necessary action to ensure America’s economy can thrive,” said Mario Cordero, CEO of the Port of Long Beach.
    “Cargo volume at the nation’s busiest port will drop by about one-third next week,” said Port of Los Angeles Executive Director, Gene Seroka. “That means fewer jobs along with rising prices for consumers and businesses. Additionally, counter tariffs are having a severe impact on American agricultural exporters. We need agreements quickly with our trading partners that benefit and support the U.S. economy and supply chain.”
    Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will struggle to absorb the impact of retaliatory tariffs. Canada is Washington’s largest trading partner, accounting for nearly $20 billion in imports and $10 billion in exports. China is the world’s second-largest economy and Washington state exported over $12 billion in goods to China last year—making China Washington state’s top export partner—and imported $11.2 billion in goods, the most in imports from any country aside from Canada. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.
    Senator Murray has been a vocal opponent of Trump’s chaotic trade war from the very start and has been lifting up the voices of people in Washington state harmed by this administration’s approach to trade and calling on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier last month, Senator Murray brought together leaders across Washington state who highlighted how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector. Senator Murray also took to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else.
    Murray has also been sounding the alarm on Trump’s tariffs across Washington state. Recently, Senator Murray held a roundtable discussion in Tacoma with local businesses and ports, met with farmers in Yakima to discuss the consequences of Trump’s tariffs, and held a roundtable discussion in Vancouver at a local metal fabrication company to highlight how Trump’s trade war is hurting businesses and our economy Washington state. Just last week, Senator Murray met with small business owners in Seattle’s University District to hear how Trump’s tariffs and the broader economic uncertainty are affecting them, and later she met with farmers in Skagit County to discuss tariffs, and visited Blaine near the Canadian border to highlight the impacts of Trump’s trade war.
    Senator Murray’s full remarks as delivered during today’s press call are below:
    “Thank you everyone for joining us, and I am so glad to be on this call today with some of my colleagues from the West Coast—the best coast. You’re going to hear from Senators Wyden and Padilla, and our West Coast ports. 
    “We are here to sound the alarm on Trump’s disaster of a trade policy with some of the ports that we represent, because the window of opportunity we have to minimize the worst consequences of this inane tariff agenda is rapidly shrinking. I want to be clear what’s happening here, one economically illiterate President is forcing a totally unpredictable and thoughtless trade war onto the entire world—and although Trump inherited a remarkably strong and resilient American economy, he is singlehandedly pushing this nation toward a painful Republican Recession while forcing a tax increase on everyone.
    “All of the major economic indicators are there, we’re talking big red, flashing sirens. We went from months of strong economic growth and predictions of more growth to come, to a shrinking economy all thanks to Trump and his tariffs. Consumer confidence is at its lowest level since COVID because it’s pretty obvious Trump is driving the economy into the ground on purpose. Small businesses in my state who rely on imports are telling me the situation is as dire for them as it was during COVID—during COVID! They’re actually calling Trump’s trade war a kind of COVID 2.0 for them.
    “They are facing tariffs on items we either don’t grow or make in the United States, and realistically never will, for things like coffee or Green Tea. They are shouting from the rooftop that Trump is singlehandedly detonating a mass extinction event for small businesses in America.
    “And listen, few people understand better than our Ports that you don’t need these tariffs to last very long for them to have a verybig impact. Fewer ships from across the Pacific, means less cargo at our ports, less cargo at our ports means less goods for our truckers to transport, and that ultimately means bare shelves for our retailers and the American consumer.
    “Now even if you assume the most optimistic outlook that Trump is going to cut amazing new trade deals with everyone he’s burned—which he won’t—there will still be a painful cost from the shock to the economy that has already been set in motion. Supply chains do not reset in an instant. The time to reverse these Republican tariffs was the same day they were announced.
    “Just three Republicans chose to support Senator Wyden’s resolution yesterday, with the majority blocking that bill. That is a dangerous and deliberate decision by Republicans to enable Trump’s pro-recession agenda and higher taxes on every American—and for every day that Republicans choose to allow Trump to sabotage the economy, more small businesses will continue to suffer.
    “Businesses in Washington state are already having to take cost cutting measures, they’re laying off employees, some may even close for good. For what? There’s no strategy here. It’s short-term pain for long-term pain. This entire debacle is already a prime example of self-inflicted economic arson. No one wins here.
    “Republicans need to cut their losses, and work with Democrats immediately to end this tax on consumers and stop these nonsense trade wars. Congress needs to take the matches away from the President who is setting fire to the economy. So, Democrats are going to make sure Republicans continue to feel the pressure until this Congress takes action and overrides this President.
    “So, with that, I want to turn it over to Senator Wyden. He has been a leader in our efforts to rein in Trump’s tariffs.”

    MIL OSI USA News –

  • MIL-OSI USA: Murray, Daines Introduce Bill to Cut Red Tape, Create Simplified Pathway for Ecosystem Restoration in Regulated Floodplains

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, introduced the Floodplain Enhancement and Recovery Act with Senator Steve Daines (R-MT). This bipartisan legislation would create a new pathway for ecosystem restoration projects in floodplains that meet specific low-risk criteria and would simplify approval for important restoration work while still upholding flood safety standards.
    Under the current Federal Emergency Management Agency (FEMA) policy, any proposed development in a regulated floodway, whether it’s a shopping mall or salmon habitat, must prove that it will not increase the base flood elevation (BFE) of the area. This requirement is commonly referred to as the “No Rise” rule. While important for protecting communities from increased flood risks, it has had major unintended consequences on important environmental restoration in Washington state and around the country.
    “Here in Washington state ensuring our waterways stay healthy is critical for not just environmental conservation efforts, but important for our communities and economy as well. This legislation will simplify approval of ecosystem restoration projects in floodplains, which is critical for many projects in Washington state where many communities are in a regulated floodway,” said Senator Murray. “Government should be making it easier to protect our environment, not harder. I am proud to be a partner to the many Tribes and advocates in Washington state that have been pushing for the Floodplain Enhancement and Recovery Act, and I will continue to fight for commonsense solutions to protect and restore our ecosystems.”
    In Washington state, many salmon habitat restoration projects involve placing woody debris in a waterway to slow water and make safe spaces for juvenile salmon to develop. These projects, and many others, often fail the “No Rise” rule. Currently, the only way around the rule is to first update FEMA’s flood maps with the projected BFE impacts. This requires extensive and very expensive hydrologic and hydraulic analyses, often performed by a third-party engineer. FEMA then reviews the analyses, replicates them, and approves them internally before giving the okay to move forward, which has taken up to three years to complete. While this process often makes sense in an urbanized, flood-prone community, it is an unnecessary exercise for restoration in remote areas.
    “Critical ecosystem restoration projects across Montana have been abandoned due to FEMA’s onerous and costly ‘No Rise’ rule. This commonsense, bipartisan bill will reduce unnecessary burdens on important conservation and restoration work, while continuing to keep our communities safe from flooding,” said Senator Daines.
    Many communities in Washington have avoided doing restoration work in regulated floodways—which makes up much of the state—to avoid the associated costs. This bill would allow for a more efficient process for ecosystem restoration in a regulated floodplain and addresses the issue of “No Rise,” which has been a priority concern for a number of Tribal communities and salmon advocates in Washington state for the last few years.
    “Ecosystem restoration projects reduce flood risk and restore the natural functions of floodplains,” said Ed Johnstone, Chairman of Northwest Indian Fisheries Commission. “This proposed legislation is a strong step toward removing an undue burden for these essential habitat restoration and nature-based solution projects. Treaty tribes support legislation that keeps communities safe while restoring salmon habitat and protecting treaty rights in the Pacific Northwest.”
    “Restoring healthy floodplains is just one of many nature-based solutions that must be integrated into our national efforts to make communities safer and rivers healthier in the face of increasingly extreme weather,” said Eileen Shader, Senior Advisor for American Rivers Action Fund and a floodplains expert. “Making sure that these cost-efficient and common-sense restoration projects are not limited by inefficiencies in the regulatory framework is an important step in ensuring lives and property are protected.” 
    “The Association of State Floodplain Managers supports this legislation because it is a practical solution balancing the need to identify any relevant impacts of floodplain restoration projects with time, effort and resources to do so,” said Chad Berginnis, Executive Director of The Association of State Floodplain Managers. “The land use and development standards of the NFIP need to be sensibly applied in a way to protect and enhance the natural and beneficial functions of our nation’s floodplains.”  
    “We appreciate Senator Murray’s leadership and partnership in developing this important legislation. It’s a common-sense approach that reduces costs and delays for watershed restoration while maintaining flood safety,” said Casey Sixkiller, Director of the Washington State Department of Ecology. “By giving our federal partners more flexibility in their review processes, this bill will help move critical ecosystem and salmon recovery projects forward without unnecessary regulatory hurdles or added costs.”
    “There are many benefits to having intact natural floodplains. One of them is that they lower the risks associated with flooding. That is one of the main reasons why The Nature Conservancy supports policies, like this one from Senators Murray and Daines, that help scale up work to restore floodplains,” said Cameron Adams, Policy Advisor for The Nature Conservancy. “This bipartisan legislation would give communities the flexibility they want and need to do science-backed ecosystem restoration projects in flood zones. These types of projects don’t just benefit people, but also plants and animals that thrive in healthy landscapes.”
    “Ecosystem restoration projects are a vital tool to address landscape recovery and habitat restoration, especially after major weather events. This amendment would make it easier for local communities to develop effective and necessary restoration projects by streamlining the approval process for ecosystem restoration projects,” said Jeremy Peters, CEO of National Association of Conservation Districts. “NACD appreciates the clarity and flexibility provided in this amendment and looks forward to seeing how local conservation districts will have an even greater impact in areas in need of restoration.”
    Senator Murray has been a champion for protecting and strengthening critical salmon and fish populations throughout her time in the Senate. Senator Murray secured a historic $2.85 billion investment in salmon and ecosystem restoration programs—including $400 million for a new community-based restoration program focused on removing fish passage barriers in the Bipartisan Infrastructure Law—and in the Inflation Reduction Act, Murray secured hundreds of millions for Washington state priorities including $15 million for the Pacific Coastal Salmon Recovery Fund, $3 million to support facilities at the Olympic Coast National Marine Sanctuary, $27 million for Pacific salmon research, and more.
    Last Congress, as then-Chair of the Senate Appropriations Committee, Murray protected critical funding for salmon recovery and fishery projects in the Fiscal Year 2024 government spending bills she negotiated and passed into law, including securing: $50 million in the construction of the Howard Hanson Dam Fish Passage facility; $75 million for the Pacific Salmon account at the National Marine Fisheries Service (NMFS), $65 million for the Pacific Coastal Salmon Recovery Fund, $54 million for the EPA’s Puget Sound Geographic Program, and more.

    MIL OSI USA News –

  • MIL-OSI: First Savings Financial Group, Inc. Announces Redemption of Subordinated Notes

    Source: GlobeNewswire (MIL-OSI)

    JEFFERSONVILLE, Ind., May 01, 2025 (GLOBE NEWSWIRE) — First Savings Financial Group, Inc. (NASDAQ: FSFG) (the “Company”), the holding company for First Savings Bank (the “Bank”), announced today the redemption of $20.0 million of subordinated notes, at par, on April 30, 2025. The subordinated notes were issued by the Company on September 20, 2018 as a 5.95% Fixed-to-Floating Rate Subordinated Note due 2028, in the principal amount of $20.0 million. Prior to redemption, the subordinated notes were floating rate and yielded 7.66%. In order to consummate the redemption, the Bank paid the Company a dividend of $19.0 million, which the Bank funded with a like dollar amount of short-term wholesale borrowings at a rate of 4.48%. Subsequent to the dividend, the Bank maintained leverage and total risk-based capital ratios in excess of 9.0% and 12.0%, respectively, as of March 31, 2025. Subsequent to the redemption, the Company maintained leverage and total risk-based capital ratios in excess of 9.0% and 12.0%, respectively, as of April 30, 2025.

    Commenting on the redemption, Larry W. Myers, President and CEO, stated “We are very pleased to have redeemed and retired this excess, high-cost debt, which we expect will contribute to expansion in net interest margin. This debt redemption and the repurchase of Company common shares have been strategic initiatives we’ve desired to implement. The redemption helps clear a path for the opportunity to repurchase Company common shares in the forthcoming months should we continue to build excess capital, which we currently anticipate, and should such repurchases be accretive to the Company’s earnings per share.”

    The Bank is an entrepreneurial community bank headquartered in Jeffersonville, Indiana, which is directly across the Ohio River from Louisville, Kentucky, and operates fifteen depository branches within Southern Indiana. The Bank also has two national lending programs, including single-tenant net lease commercial real estate and SBA lending, with offices located predominately in the Midwest. The Bank is a recognized leader, both in its local communities and nationally for its lending programs. The employees of First Savings Bank strive daily to achieve the organization’s vision, We Expect To Be The BEST community BANK, which fuels our success. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “FSFG.”

    This release may contain forward-looking statements within the meaning of the federal securities laws. These statements are not historical facts; rather, they are statements based on the Company’s current expectations regarding its business strategies and their intended results and its future performance. Forward-looking statements are preceded by terms such as “expects,” “believes,” “anticipates,” “intends” and similar expressions.

    Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company’s actual results, performance and achievements to be materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, changes in general economic conditions; changes in market interest rates; changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; and other factors disclosed in the Company’s periodic filings with the Securities and Exchange Commission.

    Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this release or made elsewhere from time to time by the Company or on its behalf. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

    Contact:

    Tony A. Schoen
    Chief Financial Officer
    (812) 283-0724

    The MIL Network –

  • MIL-OSI USA: Cassidy, Young, Colleagues Introduce Legislation to Increase Affordable Housing

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), Todd Young (R-IN), and colleagues introduced the Affordable Housing Credit Improvement Act to increase affordable housing for families and workers by expanding and strengthening the Low-Income Housing Tax Credit. The bill also helps build nearly 1.6 million new affordable homes over the next decade.
    “Doing something to help someone buy a home is consistent with President Trump’s goal of helping working families,” said Dr. Cassidy. “No one should be priced out of a roof over their heads.”
    “Affordable housing is needed in Indiana and across the country. The Affordable Housing Credit Improvement Act will leverage private sector investment to increase the stock of affordable housing in both urban and rural communities.  As a result, this will help to tackle the housing affordability crisis head-on to help Hoosier families, expand our workforce, and strengthen our communities,” said Senator Young.
    Cassidy and Young were joined by U.S. Senators Maria Cantwell (D-WA), Marsha Blackburn (R-TN), and Ron Wyden (D-OR) in introducing the legislation. It is endorsed by the ACTION Campaign and the Affordable Housing Tax Credit Coalition.
    “Ensuring access to affordable housing is a critical component in helping Tennessee continue to grow and prosper,” said Senator Blackburn. “The Affordable Housing Credit Improvement Act strengthens the Low-Income Housing Tax Credit, an important tool that helps to drive private sector investment in affordable housing for all Americans, including our nation’s veterans and seniors.”
    Background
    Currently, nearly one-in-four renters, over 11 million families, spend more than half of their household income on rent, cutting into other essential expenses like childcare, medication, groceries, and transportation. At the same time, over 600,000 Americans are experiencing homelessness on any given day, an increase over pre-COVID levels.
    The Housing Credit has built or restored more than 4 million affordable housing units, nearly 90 percent of all federally funded affordable housing since its creation. Roughly nine million American households have benefited from the credit, and the economic activity that it generated has supported 6.6 million jobs and spurred more than $746 billion in wages.
    More specifically, the Affordable Housing Credit Improvement Act would: 
    Increase the number of credits available to states by 50 percent for the next two years and make the temporary 12.5 percent increase secured in 2018 permanent, which has already helped build more than 59,000 additional affordable housing units nationwide.
    Stabilize financing for workforce housing projects built using private activity bonds by decreasing the amount of private activity bonds needed to secure Housing Credit funding. As a result, projects would have to carry less debt, and more projects would be eligible to receive funding.
    Improve the Housing Credit program to better serve veterans, victims of domestic violence, formerly homeless students, Native American communities, and rural Americans. 
    The Affordable Housing Credit Improvement Act was recently introduced in the U.S. House of Representatives by U.S. Representatives Darin LaHood (R-IL-16), Suzan DelBene (D-WA-01), Claudia Tenney (R-NY-24), Don Beyer (D-VA-08), Randy Feenstra (R-IA-04), and Jimmy Panetta (D-CA-19).

    MIL OSI USA News –

  • MIL-OSI Economics: US diagnostic imaging market faces tariff-driven supply chain and capital risks, reveals GlobalData

    Source: GlobalData

    US diagnostic imaging market faces tariff-driven supply chain and capital risks, reveals GlobalData

    Posted in Medical Devices

    The US diagnostic imaging (DI) market is facing growing pressure as new US tariffs raise procurement risks and threaten supply chains. With high-value systems like computed tomography (CT) and magnetic resonance imaging (MRI) heavily reliant on global production, hospitals may delay capital spending amid uncertainty. Although domestic manufacturing offers some short-term protection, extended trade tensions could disrupt pricing, planning, and access to critical imaging equipment across the country, says GlobalData, a leading data and analytics company.

    Diagnostic imaging (DI), which is one of the MedTech industry’s most capital-intensive and strategically vital segments, relies on global production networks and long procurement cycles. Even in absence of major pricing shifts, the perceived instability surrounding policy may prompt hospitals to delay purchases or reassess capital planning, making the sector susceptible to long-term impacts.

    GlobalData projects the US diagnostic imaging market to grow from $10.4 billion in 2024 to $15 billion in 2034. While domestic manufacturing may initially protect some vendors from the impact of rising tariffs, they could still face supply chain disruptions, requiring adjustments to manufacturing strategies, pricing structures, and capital expenditure planning if trade tensions continue.

    Among the leading DI companies, GE Healthcare stands out with a comparatively large US production operation. GlobalData’s MedSource supply chain database shows that 21% of GE’s 510(k)-approved DI devices are manufactured exclusively in the US, well ahead of Siemens at 12% and Philips at 9%.

    Ashley Clarke, Senior Medical Analyst at GlobalData, comments: “While a bigger domestic footprint does not make GE immune, it may reduce tariff exposure in the short-term. Devices with US-based final assembly can qualify for origin exemptions, helping maintain competitive pricing if trade volatility continues. GE may have greater pricing flexibility and margin protection, giving it a tactical advantage, but like other companies will still face challenges in raw material and parts procurement and production.”

    High-value systems like CT and MRI systems, which together account for more than 20% of the US DI market, rely heavily on global production networks. According to MedSource, Siemens’ flagship SOMATOM CT systems are primarily built in Germany and China, while GE assembles its units in Wisconsin using international components. MRI systems follow similar trends, with components like coils sourced heavily from overseas.

    Clarke continues: “The procurement planning for 2025 and beyond could face more scrutiny if pricing or access to key components becomes less certain.”

    If trade disruptions extend into next year, both manufacturers and buyers will need to adapt. Vendors with high offshore exposure, particularly those relying on China, India, or EU-based services, may face pressure to localize or diversify production supply chains. With DI systems already representing one of the largest capital expenditures in hospital tech budgets, even modest cost shifts can trigger downstream effects.

    Clarke concludes: “Providers are navigating broader cost pressures on other essential medical supplies, so even if DI equipment costs hold, there is growing incentive to delay high-cost imaging upgrades or replacements. Such delays in imaging infrastructure can limit access to timely diagnostics, raising risks for patient outcomes and placing additional strain on the already overburdened healthcare sector.”

    MIL OSI Economics –

  • MIL-OSI: Fairfax India Holdings Corporation First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

    (Note:   All dollar amounts in this press release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS®Accounting Standards”), except as otherwise noted. This press release contains certain non-GAAP and other financial measures, including book value per share and cash and marketable securities, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See “Glossary of non-GAAP and other financial measures” at the end of this press release for further details.)
         

    TORONTO, May 01, 2025 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (TSX: FIH.U) announces a net loss of $211.2 million ($1.57 net loss per diluted share) in the first quarter of 2025, compared to a net loss of $293.5 million in the first quarter of 2024 ($2.17 net loss per diluted share). The company’s book value per share decreased 7.4% to $19.41 at March 31, 2025 from $20.96 at December 31, 2024, primarily due to unrealized losses recorded on the company’s publicly listed investments.

    Highlights for the first quarter of 2025 included the following:

    • The company recorded a net change in unrealized losses on investments of $222.9 million, principally from decreases in the fair values of the company’s publicly listed investments in IIFL Capital (formerly IIFL Securities) ($106.8 million), IIFL Finance ($64.5 million), Fairchem Organics ($28.1 million), 5paisa ($10.0 million) and CSB Bank ($9.9 million), and private company investment in Sanmar ($19.2 million) (primarily due to a decrease in the publicly traded share price of its subsidiary, Chemplast), partially offset by an increase in the fair value of the company’s private company investment in Seven Islands ($18.7 million).
    • On February 20, 2025 the company completed its previously announced investment of an additional 10.0% equity interest in Bangalore International Airport Limited (“BIAL”) for a purchase price of $255.0 million. In accordance with the agreement with Siemens Project Ventures GmbH (“Siemens”), the company paid an initial installment on the closing date and recognized a payable for securities purchased of $170.9 million, representing the second and third installments to be paid in the third quarters of 2025 and 2026, respectively.
    • In February 2025, the company also increased the borrowing limit of its revolving credit facility from

    $175.0 million to $250.0 million, including the use of letters of credit. The company issued a letter of credit for $170.9 million in favour of Siemens equal to the deferred purchase price for the additional 10.0% equity interest in BIAL. The increased borrowing limit and Siemens letter of credit will be reduced over a period of approximately eighteen months in accordance with the terms of the amended credit agreement and letter of credit.

    Fairfax India is in strong financial health, with cash and marketable securities at March 31, 2025 of $113.0 million and $79.2 million available under its revolving credit facility.

    There were 134.8 million and 135.4 million weighted average common shares outstanding during the first quarters of 2025 and 2024, respectively. At March 31, 2025 there were 104,839,462 subordinate voting shares and 30,000,000 multiple voting shares outstanding.

    Unaudited balance sheets, earnings (loss) and comprehensive income (loss) information follow and form part of this press release. Fairfax India’s detailed first quarter report can be accessed at its website www.fairfaxindia.ca.

    Fairfax India Holdings Corporation is an investment holding company whose objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.

    For further information, contact: John Varnell, Vice President, Corporate Affairs
      (416) 367-4755
    Information on            
    CONSOLIDATED BALANCE SHEETS            
    as at March 31, 2025 and December 31, 2024            
    (unaudited – US$ thousands)            
      March 31, 2025
    		   December 31, 2024
    		  
    Assets    
    Cash and cash equivalents   21,616     59,322  
    Bonds   114,823     180,507  
    Common stocks   3,419,382     3,381,206  
    Total cash and investments   3,555,821     3,621,035  
                 
    Interest and dividends receivable   5,093     8,849  
    Income taxes refundable   175     174  
    Other assets   844     722  
    Total assets   3,561,933     3,630,780  
         
    Liabilities    
    Accounts payable and accrued liabilities   1,106     1,300  
    Accrued interest expense   2,736     8,611  
    Income taxes payable   1,547     5,379  
    Payable to related parties   9,434     10,099  
    Payable for securities purchased   170,850     —  
    Deferred income taxes   129,973     149,780  
    Borrowings   498,479     498,349  
    Total liabilities   814,125     673,518  
         
    Equity    
    Common shareholders’ equity   2,617,071     2,826,495  
    Non-controlling interests   130,737     130,767  
    Total equity   2,747,808     2,957,262  
        3,561,933     3,630,780  
                 
    Book value per share $       19.41   $ 20.96  
             
    Information on        
    CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)        
    for the three months ended March 31, 2025 and 2024        
    (unaudited – US$ thousands except per share amounts)        
      First quarter
      2025   2024  
    Income        
    Interest 3,196   5,038  
    Dividends 2,998   7,049  
    Net realized gains on investments 616   116,924  
    Net change in unrealized losses on investments (222,862 ) (410,927 )
    Net foreign exchange gains (losses) 3,245   (376 )
      (212,807 ) (282,292 )
    Expenses        
    Investment and advisory fees 9,399   9,484  
    General and administration expenses 1,648   2,536  
    Interest expense 6,755   6,380  
      17,802   18,400  
             
    Loss before income taxes (230,609 ) (300,692 )
    Recovery of income taxes (19,142 ) (7,483 )
    Net loss (211,467 ) (293,209 )
             
    Attributable to:        
    Shareholders of Fairfax India (211,224 ) (293,504 )
    Non-controlling interests (243 ) 295  
      (211,467 ) (293,209 )
                 
    Net loss per basic and diluted share $         (1.57 ) $    (2.17 )
    Shares outstanding (weighted average) 134,839,462   135,365,933  
             
             
             
    Information on        
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)        
    for the three months ended March 31, 2025 and 2024        
    (unaudited – US$ thousands)        
      First quarter
      2025   2024  
    Net loss (211,467 ) (293,209 )
    Other comprehensive income (loss), net of income taxes        
    Item that may be subsequently reclassified to net earnings (loss)        
    Unrealized foreign currency translation gains (losses), net of income taxes of nil (2024 – nil) 2,046   (5,708 )
    Comprehensive loss (209,421 ) (298,917 )
             
    Attributable to:        
    Shareholders of Fairfax India (209,391 ) (298,926 )
    Non-controlling interests (30 ) 9  
      (209,421 ) (298,917 )

    This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the company’s or an Indian Investment’s future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the company, an Indian Investment, or the Indian market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

    Forward-looking statements are based on our opinions and estimates as of the date of this press release, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the following factors: oil price risk; geographic concentration of investments; potential lack of diversification; foreign currency fluctuation; volatility of the Indian securities markets; investments may be made in foreign private businesses where information is unreliable or unavailable; valuation methodologies involve subjective judgments; financial market fluctuations; pace of completing investments; minority investments; reliance on key personnel and risks associated with the Investment Advisory Agreement; disruption of the company’s information technology systems could significantly affect the company’s business; lawsuits; use of leverage; significant ownership by Fairfax may adversely affect the market price of the subordinate voting shares; trading price of subordinate voting shares relative to book value per share risk; weather risk; taxation risks; emerging markets; legal, tax and regulatory risks; MLI; economic risk; reliance on trading partners; and economic disruptions from conflicts in Ukraine and the Middle East and the development of other geopolitical events and economic disruptions worldwide. Additional risks and uncertainties are described in the company’s annual information form dated March 7, 2025 which is available on SEDAR+ at www.sedarplus.ca and on the company’s website at www.fairfaxindia.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the company. These factors and assumptions, however, should be considered carefully.

    Although the company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The company does not undertake to update any forward-looking statements contained herein, except as required by applicable securities laws.

    GLOSSARY OF NON-GAAP AND OTHER FINANCIAL MEASURES
    Management analyzes and assesses the financial position of the consolidated company in various ways. Certain of the measures included in this press release, which have been used consistently and disclosed regularly in the company’s Annual Reports and interim financial reporting, do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar measures presented by other companies. Those measures are described below.

    Book value per share – The company considers book value per share a key performance measure in evaluating its objective of long term capital appreciation, while preserving capital. This measure is also closely monitored as it is used to calculate the performance fee, if any, to Fairfax Financial Holdings Limited. This measure is calculated by the company as common shareholders’ equity divided by the number of common shares outstanding.

    Cash and marketable securities – This measure is calculated by the company as the sum of cash, cash equivalents, short term investments and Government of India bonds. The company uses this measure to monitor short term liquidity risk.

    The MIL Network –

  • MIL-OSI: SB Financial Group Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    DEFIANCE, Ohio, May 01, 2025 (GLOBE NEWSWIRE) — SB Financial Group, Inc. (NASDAQ: SBFG) (“SB Financial” or the “Company”), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services today reported earnings for the first quarter ended March 31, 2025.

    First Quarter 2025 Highlights Over the First Quarter Prior Year Include:

    • Adjusted net income of $2.7 million, after accounting for $0.7 million of nonrecurring merger expenses, was up 23.2 percent from the prior year adjusted net income of $2.2 million, with adjusted Diluted Earnings Per Share (“DEPS”) of $0.42. Unadjusted net income and EPS were slightly below the prior year quarter.
    • Successful completion of the Marblehead Bank acquisition, adding $56 million of low-cost deposits and $19 million in loans.
    • Interest income of $17.4 million increased by 13.5 percent from $15.3 million reported in the prior year quarter.
    • Loan growth of $96.7 million, or 9.8 percent from the prior-year quarter, with growth from the linked quarter of $41.6 million. This was our fourth consecutive quarter of sequential expanding loan growth, year over year. Growth adjusted for the Marblehead acquisition would be $78.2 and $23.1 million, from the linked quarter.
    • Deposit growth of $159.7 million, or 14.4 percent from the prior-year quarter, with growth from the linked quarter of $119.4 million. Growth adjusted for the Marblehead acquisition would be $103.7 and $63.4 million, from the linked quarter.
    • Tangible book value (“TBV”) per share ended the quarter at $15.79 up $0.86 per share or 5.8 percent from the prior year quarter. Absent the per share dilution from the acquisition of $0.87, TBV would have been up $1.73 per share or 11.6 percent.
    Earnings Highlights Three Months Ended
    ($ in thousands, except per share & ratios) Mar. 2025 Mar. 2024 % Change
    Operating revenue $ 15,386   $ 13,131   17.2 %
    Interest income   17,372     15,300   13.5 %
    Interest expense   6,093     6,120   -0.4 %
    Net interest income   11,279     9,180   22.9 %
    Provision for credit losses   387     –   N/M
    Noninterest income   4,107     3,951   3.9 %
    Noninterest expense   12,410     10,282   20.7 %
    Net income   2,158     2,368   -8.9 %
    Merger adjusted Earnings per diluted share   0.42     0.33   27.3 %
    Earnings per diluted share   0.33     0.35   -5.7 %
    Merger adjusted Return on Avg. Assets   0.76 %   0.67%   13.4 %
    Return on average assets   0.60 %   0.71%   -15.5 %
    Merger adjusted Return on Avg. Equity   8.35 %   7.26%   15.0 %
    Return on average equity   6.63 %   7.72%   -14.1 %

    “Our first quarter results highlight the value of our growth strategy, even in the midst of temporary economic uncertainty,” said Mark A. Klein, Chairman, President, and CEO. “Merger adjusted net income for the quarter was $2.7 million, a 22.3 percent increase from the prior-year quarter, with the GAAP EPS of $0.33 slightly down from the prior year. The successful closing of the acquisition in the first quarter significantly strengthened our liquidity position through their low-cost deposit base and further expanded our market presence in Northern Ohio. This marks an important milestone in executing our long-term growth strategy to grow organically and through M & A.”

    Interest income for the quarter grew by 13.5 percent to $17.4 million compared to the previous year, driven by continued strong loan growth. Total loans increased by $96.7 million, compared to the prior year, and by $41.5 million from the linked quarter. Adjusted for the Marblehead acquisition, total loan growth would have been $78.2 and $23.1 million, respectively. Deposits rose by $158.9 million, or 14.3 percent, to $1.27 billion, a result of the acquisition and a testament to the trust our clients place in us. Adjusted for the acquisition, deposit growth would have been $102.9 and $62.6 million, respectively.

    RESULTS OF OPERATIONS

    Consolidated Revenue

    In the first quarter of 2025, total operating revenue increased to $15.4 million, a 17.2 percent rise from $13.1 million in the prior year and a slight 0.1 percent decrease from the linked quarter, driven by growth in both net interest income and noninterest income. Net interest income reached $11.3 million, a strong 22.9 percent year-over-year increase, reflecting higher interest income on loans, which rose by $1.7 million to $15.4 million. Deposit costs increased by 5.1 percent to $5.4 million, but were largely offset by decreases in interest expense on other funding sources, resulting in a 0.4 percent decrease in total interest expense compared to the prior year quarter. As a result, the net interest margin expanded by 41 basis points year-over-year to 3.40 percent, reflecting the continued strength of our interest-earning assets and disciplined management of our funding costs. Noninterest income for the quarter increased by 3.9 percent year-over-year to $4.1 million due to improvements in gains on sale and title insurance, partially offset by decreases in mortgage loan servicing fees. Looking ahead, we remain focused on maintaining a balanced strategy that drives sustainable revenue growth while effectively managing costs, ensuring consistent value creation for our shareholders.

    Mortgage Loan Business

    Net mortgage banking revenue for the quarter reached $1.5 million, down $84,000 from the prior-year quarter. Loan servicing fees added $894,000 to revenue, reflecting an increase of $39,000 from the prior year quarter. The OMSR net valuation adjustment for the first quarter of 2025 was a positive $11,000 compared to a positive $181,000 in the first quarter of 2024.

                 
    Mortgage Banking            
    ($ in thousands) Mar. 2025 Dec. 2024 Sep. 2024 Jun. 2024 Mar. 2024 Prior Year
    Growth
    Mortgage originations $ 39,775   $ 72,534   $ 70,715   $ 75,110   $ 42,912   $ (3,137 )
    Mortgage sales   39,279     62,301     61,271     55,835     36,623     2,656  
    Mortgage servicing portfolio   1,432,184     1,427,318     1,406,273     1,389,805     1,371,713     60,471  
    Mortgage servicing rights   14,965     14,868     14,357     14,548     14,191     774  
                 
                 
    Revenue            
    Loan servicing fees   894     886     874     862     855     39  
    OMSR amortization   (294 )   (358 )   (370 )   (335 )   (273 )   (21 )
    Net administrative fees   600     528     504     527     582     18  
    OMSR valuation adjustment   11     288     (465 )   38     181     (170 )
    Net loan servicing fees   611     816     39     565     763     (152 )
    Gain on sale of mortgages   849     1,196     1,311     1,277     781     68  
    Mortgage banking revenue, net $ 1,460   $ 2,012   $ 1,350   $ 1,842   $ 1,544   $ (84 )
                 

    Noninterest Income and Noninterest Expense

    “Noninterest income for the first quarter of 2025 totaled $4.1 million, up $156,000 or 3.9 percent from the prior-year quarter, primarily due to increased gains on sales of mortgage loans and OSMR, and increased title service and other revenue. Compared to the prior-year quarter, gains on sales of mortgage loans and OSMR grew modestly by $68,000 year over year, and title insurance revenue added $131,000, reflecting the consistent benefit of our revenue diversification strategy,” Mr. Klein noted.

                   
    Noninterest Income/Noninterest Expense          
    ($ in thousands, except ratios)   Mar. 2025 Dec. 2024 Sep. 2024 Jun. 2024 Mar. 2024 Prior Year
    Growth
    Noninterest Income (NII)   $ 4,107   $ 4,557   $ 4,123   $ 4,386   $ 3,951   $ 156  
    NII / Total Revenue     26.7%     29.5%     28.8%     31.5%     30.1%     -3.4%  
    NII / Average Assets     1.1%     1.3%     1.2%     1.3%     1.2%     -0.1%  
    Total Revenue Growth     17.2%     2.2%     4.5%     -0.6%     -6.1%     23.3%  
                                           
    Noninterest Expense (NIE)   $ 12,410   $ 11,003   $ 11,003   $ 10,671   $ 10,282   $ 2,128  
    Efficiency Ratio     80.0%     71.1%     76.8%     75.9%     78.2%     1.8%  
    NIE / Average Assets     3.4%     3.2%     3.2%     3.2%     3.1%     0.3%  
    Net Noninterest Expense/Avg. Assets   -2.3%     -1.9%     -2.0%     -1.9%     -1.9%     -0.4%  
    Total Expense Growth     20.7%     6.1%     5.0%     3.2%     -4.6%     25.3%  

    Noninterest expense for the first quarter of 2025 was impacted by the one-time merger related expenses of $726,000. Adjusting for these expenses and the $300,000 in Marblehead operating expenses for the quarter, total operating costs were up just 3.5 percent from the linked quarter and 10.7 percent.

    “Our efficiency ratio in the first quarter of 2025 was 76.0 percent when we factor out the merger related costs, which was an improvement compared to the prior year.” stated Mr. Klein.

    Balance Sheet

    As of March 31, 2025, SB Financial reported total assets of $1.50 billion, higher from both the linked quarter and the previous year. This growth was primarily driven by a robust increase in the loan portfolio, which reached $1.09 billion, marking a $96.7 million or 9.8 percent increase year over year. Loan growth also included $18.7 million in loans added with the completion of the acquisition. Cash increased by $78.5 million from the prior year, including $35 million added from the liquidation of the acquired investment portfolio.

    Total deposits increased to $1.27 billion, growing $158.9 million or 14.3 percent year over year, including $56 million in low-cost deposits from the acquisition and $102.9 million in organic deposit growth reflecting SB Financial’s successful efforts in deposit gathering and customer engagement. Shareholders’ equity ended the quarter at $131.5 million, representing a $7.8 million increase from the prior year. This growth reflects management’s commitment to enhancing shareholder value and the Company’s disciplined approach to capital management.

    During the first quarter, SB Financial repurchased 26,446 shares, less than previous quarters as the average price was above our target range. This reflects the Company’s dedication to returning value to shareholders through dividends and share repurchases while retaining adequate capital to support our long-term growth.

    “As we progress through the remainder of 2025, our balance sheet strength and strategic management of resources highlight our long-term strategic growth ambitions, both organically and through successful acquisitions,” said Mr. Klein, Chairman, President, and CEO. “Even in the current challenging rate environment, we achieved our fourth consecutive quarter of loan growth, with balances increasing by $96.7 million from the previous year, which included $78.2 million of organic loan growth. This performance underscores the strength of our deep client relationships and our continued competitiveness in the market. Our strong asset quality, supported by top-decile coverage ratios, remains a cornerstone of our financial stability, which we will leverage to take advantage of emerging opportunities while maintaining our focus on operational excellence. Looking ahead, we are committed to driving shareholder value and sustaining robust financial performance as the economic landscape stabilizes.”

                 
    Loan Balances            
    ($ in thousands, except ratios) Mar. 2025 Dec. 2024 Sep. 2024 Jun. 2024 Mar. 2024 Annual
    Growth
    Commercial $ 125,878   $ 124,764   $ 123,821   $ 123,287   $ 120,016   $ 5,862  
    % of Total   11.6%     11.9%     12.0%     12.3%     12.1%     4.9%  
    Commercial RE   509,518     479,573     459,449     434,967     429,362     80,156  
    % of Total   46.8%     45.8%     44.6%     43.3%     43.3%     18.7%  
    Agriculture   61,443     64,680     64,887     64,329     62,365     (922 )
    % of Total   5.6%     6.2%     6.3%     6.4%     6.3%     -1.5%  
    Residential RE   319,307     308,378     314,010     316,233     314,668     4,639  
    % of Total   29.3%     29.5%     30.5%     31.5%     31.7%     1.5%  
    Consumer & Other   72,128     69,340     67,788     66,574     65,141     6,987  
    % of Total   6.6%     6.6%     6.6%     6.6%     6.6%     10.7%  
    Total Loans $ 1,088,274   $ 1,046,735   $ 1,029,955   $ 1,005,390   $ 991,552   $ 96,722  
    Total Growth Percentage                 9.8%  
                 
                 
    Deposit Balances            
    ($ in thousands, except ratios) Mar. 2025 Dec. 2024 Sep. 2024 Jun. 2024 Mar. 2024 Annual
    Growth
    Non-Int DDA $ 240,446   $ 232,155   $ 222,425   $ 208,244   $ 219,395   $ 21,051  
    % of Total   18.9%     20.1%     19.2%     18.7%     19.7%     9.6%  
    Interest DDA   208,583     201,085     202,097     190,857     169,171     39,412  
    % of Total   16.4%     17.4%     17.4%     17.1%     15.2%     23.3%  
    Savings   285,902     237,987     241,761     231,855     244,157     41,745  
    % of Total   22.5%     20.6%     20.8%     20.8%     21.9%     17.1%  
    Money Market   257,013     222,161     228,182     225,650     221,362     35,651  
    % of Total   20.2%     19.3%     19.7%     20.2%     19.9%     16.1%  
    Time Deposits   279,276     259,217     265,068     258,582     258,257     21,019  
    % of Total   22.0%     22.5%     22.9%     23.2%     23.2%     8.1%  
    Total Deposits $ 1,271,220   $ 1,152,605   $ 1,159,533   $ 1,115,188   $ 1,112,342   $ 158,878  
    Total Growth Percentage                 14.3%  
                 

    Asset Quality

    As of March 31, 2025, SB Financial continued to demonstrate strong asset quality metrics. Nonperforming assets totaled $6.1 million, representing 0.41 percent of total assets, an increase of $3.2 million compared to $2.9 million or 0.22 percent of total assets reported in the prior year. This year-over-year growth was driven by weakness in three credits that we continue to expect to resolve favorably in 2025.

    The allowance for credit losses remained strong at 1.41 percent of total loans, providing 254.4 percent coverage of nonperforming loans, a level slightly lower than the linked quarter but indicative of our conservative approach to risk management amid the current environment. The net loan charge-offs to average loans ratio remained modest at 3 basis points, improving from 7 basis points in the prior quarter and consistent with the year-ago period, reflecting disciplined credit practices and effective collateral management.

    “Our asset quality metrics fully illustrate the diligence of our approach and commitment to disciplined risk management,” stated Mark Klein, Chairman, President, and CEO. “While we observed a slight uptick in nonperforming assets compared to the prior year, our reserve coverage ratio and continued low charge-off levels underscore the quality of our loan portfolio. We remain focused on balancing our conservative approach in maintaining the integrity of our credit processes with the need to effectively manage our balance sheet for long-term growth.”

                 
    Nonperforming Assets                
    ($ in thousands, except ratios) Mar. 2025 Dec. 2024 Sep. 2024 Jun. 2024 Mar. 2024   Annual
    Change
    Commercial & Agriculture $ 3,418   $ 2,927   $ 2,899   $ 2,781   $ 897   $ 2,521  
    % of Total Com./Ag. loans   1.82%     1.55%     1.54%     1.48%     0.49%     281.0%  
    Commercial RE   798     807     813     475     49     749  
    % of Total CRE loans   0.16%     0.17%     0.18%     0.11%     0.01%     1528.6%  
    Residential RE   1,608     1,539     1,536     1,247     1,295     313  
    % of Total Res. RE loans   0.50%     0.50%     0.49%     0.39%     0.41%     24.2%  
    Consumer & Other   227     243     270     231     193     34  
    % of Total Con./Oth. loans   0.31%     0.35%     0.40%     0.35%     0.30%     17.6%  
    Total Nonaccruing Loans   6,051     5,516     5,518     4,734     2,434     3,617  
    % of Total loans   0.56%     0.53%     0.54%     0.47%     0.25%     148.6%  
    Foreclosed Assets and Other Assets   73     –     –     510     510     (437 )
    Total Change (%)             -85.7%  
    Total Nonperforming Assets $ 6,124   $ 5,516   $ 5,518   $ 5,244   $ 2,944   $ 3,180  
    % of Total assets   0.41%     0.40%     0.40%     0.39%     0.22%     108.02%  


    Webcast and Conference Call

    The Company will hold the first quarter 2025 earnings conference call and webcast on May 2, 2025, at 11:00 a.m. EDT. Interested parties may access the conference call by dialing 1-888-338-9469. The webcast can be accessed at ir.yourstatebank.com. An audio replay of the call will be available on the Company’s website.

    About SB Financial Group

    Headquartered in Defiance, Ohio, SB Financial is a diversified financial services holding company for the State Bank & Trust Company (State Bank) and SBFG Title, LLC dba Peak Title (Peak Title). State Bank provides a full range of financial services for consumers and small businesses, including wealth management, private client services, mortgage banking and commercial and agricultural lending, operating through a total of 26 offices: 24 in ten Ohio counties and two in Northeast, Indiana, and 26 ATMs. State Bank has six loan production offices located throughout the Tri-State region of Ohio, Indiana and Michigan. Peak Title provides title insurance and title opinions throughout the Tri-State and Kentucky. SB Financial’s common stock is listed on the NASDAQ Capital Market with the ticker symbol “SBFG”.

    Forward-Looking Statements

    Certain statements within this document, which are not statements of historical fact, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those predicted by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in the national and regional banking industry, changes in economic conditions in the market areas in which SB Financial and its subsidiaries operate, changes in policies by regulatory agencies, changes in accounting standards and policies, changes in tax laws, fluctuations in interest rates, demand for loans in the market areas in SB Financial and its subsidiaries operate, increases in FDIC insurance premiums, changes in the competitive environment, losses of significant customers, geopolitical events, the loss of key personnel and other risks identified in SB Financial’s Annual Report on Form 10-K and documents subsequently filed by SB Financial with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and SB Financial undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, except as required by law. All subsequent written and oral forward-looking statements attributable to SB Financial or any person acting on its behalf are qualified by these cautionary statements.

    Non-GAAP Financial Measures

    This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Non-GAAP financial measures, specifically pre-tax, pre-provision income, tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, total interest income – FTE, net interest income – FTE and net interest margin – FTE are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. In addition, the Company excludes the OMSR valuation adjustment and any gain on sale of assets from net income to report a non-GAAP adjusted net income level. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

    Investor Contact Information:

    Mark A. Klein
    Chairman, President and
    Chief Executive Officer
    Mark.Klein@YourStateBank.com

    Anthony V. Cosentino
    Executive Vice President and
    Chief Financial Officer
    Tony.Cosentino@YourStateBank.com

        SB FINANCIAL GROUP, INC.
        CONSOLIDATED BALANCE SHEETS – (Unaudited)
                               
              March   December   September   June   March
          ($ in thousands)     2025       2024       2024       2024       2024  
                               
    ASSETS                    
      Cash and due from banks   $ 105,145     $ 25,928     $ 49,348     $ 21,983     $ 26,602  
      Interest bearing time deposits     1,565       1,565       1,706       2,417       2,417  
      Available-for-sale securities     199,721       201,587       211,511       207,856       213,239  
      Loans held for sale     4,286       6,770       8,927       7,864       4,730  
      Loans, net of unearned income     1,088,274       1,046,735       1,029,955       1,005,390       991,552  
      Allowance for credit losses     (15,391 )     (15,096 )     (15,278 )     (15,612 )     (15,643 )
      Premises and equipment, net     21,875       20,456       20,715       20,860       20,985  
      Federal Reserve and FHLB Stock, at cost     5,340       5,223       5,223       5,204       6,512  
      Foreclosed assets and other assets     73       –       –       510       510  
      Interest receivable     5,072       4,908       4,842       4,818       3,706  
      Goodwill     27,158       23,239       23,239       23,239       23,239  
      Cash value of life insurance     30,871       30,685       30,488       30,294       30,103  
      Mortgage servicing rights     14,965       14,868       14,357       14,548       14,191  
      Other assets     12,048       12,649       8,916       12,815       13,869  
                               
          Total assets   $ 1,501,002     $ 1,379,517     $ 1,393,949     $ 1,342,186     $ 1,336,012  
                               
                               
                               
    LIABILITIES AND SHAREHOLDERS’ EQUITY                    
      Deposits                    
        Non interest bearing demand   $ 240,446     $ 232,155     $ 222,425     $ 208,244     $ 219,395  
        Interest bearing demand     208,583       201,085       202,097       190,857       169,171  
        Savings     285,902       237,987       241,761       231,855       244,157  
        Money market     257,013       222,161       228,182       225,650       221,362  
        Time deposits     279,276       259,217       265,068       258,582       258,257  
                               
          Total deposits     1,271,220       1,152,605       1,159,533       1,115,188       1,112,342  
                               
      Short-term borrowings     11,058       10,585       15,240       15,178       12,916  
      Federal Home Loan Bank advances     35,000       35,000       35,000       35,000       35,000  
      Trust preferred securities     10,310       10,310       10,310       10,310       10,310  
      Subordinated debt net of issuance costs     19,702       19,690       19,678       19,666       19,654  
      Interest payable     2,634       2,351       3,374       2,944       2,772  
      Other liabilities     19,552       21,468       17,973       18,421       19,295  
                               
          Total liabilities     1,369,476       1,252,009       1,261,108       1,216,707       1,212,289  
                               
      Shareholders’ Equity                    
        Common stock     61,319       61,319       61,319       61,319       61,319  
        Additional paid-in capital     14,955       15,194       15,090       15,195       14,978  
        Retained earnings     117,397       116,186       113,515       112,104       109,938  
        Accumulated other comprehensive loss     (26,872 )     (30,234 )     (24,870 )     (31,801 )     (31,547 )
        Treasury stock     (35,273 )     (34,957 )     (32,213 )     (31,338 )     (30,965 )
                               
          Total shareholders’ equity     131,526       127,508       132,841       125,479       123,723  
                               
          Total liabilities and shareholders’ equity $ 1,501,002     $ 1,379,517     $ 1,393,949     $ 1,342,186     $ 1,336,012  
    SB FINANCIAL GROUP, INC.
    CONSOLIDATED STATEMENTS OF INCOME – (Unaudited)
                             
    ($ in thousands, except per share & ratios)   At and for the Three Months Ended
                             
            March   December   September   June   March
    Interest income      2025     2024       2024     2024       2024  
      Loans                    
      Taxable   $ 15,244   $ 14,920     $ 14,513   $ 13,883     $ 13,547  
      Tax exempt     115     122       127     124       123  
      Securities                    
      Taxable     1,169     1,178       1,192     1,226       1,274  
      Tax exempt     38     35       37     37       37  
      Other interest income     806     592       679     384       319  
                             
        Total interest income     17,372     16,847       16,548     15,654       15,300  
                             
    Interest expense                      
      Deposits     5,352     5,169       5,568     5,208       5,090  
      Repurchase agreements & other     24     41       43     36       34  
      Federal Home Loan Bank advances   362     369       369     370       613  
      Trust preferred securities     160     177       187     187       188  
      Subordinated debt     195     194       195     194       195  
                             
        Total interest expense     6,093     5,950       6,362     5,995       6,120  
                             
                             
    Net interest income     11,279     10,897       10,186     9,659       9,180  
                             
      Provision for credit losses     387     (76 )     200     –       –  
                             
    Net interest income after provision                    
      for loan losses       10,892     10,973       9,986     9,659       9,180  
                             
    Noninterest income                    
      Wealth management fees     864     916       882     848       865  
      Customer service fees     879     842       870     875       880  
      Gain on sale of mtg. loans & OMSR   849     1,196       1,311     1,277       781  
      Mortgage loan servicing fees, net     611     816       39     565       763  
      Gain on sale of non-mortgage loans   15     10       20     105       10  
      Title insurance revenue     397     478       485     406       266  
      Net gain on sales of securities     –     –       –     –       –  
      Gain (loss) on sale of assets     –     –       200     –       –  
      Other     492     299       316     310       386  
                             
        Total noninterest income     4,107     4,557       4,123     4,386       3,951  
                             
    Noninterest expense                    
      Salaries and employee benefits     6,237     6,185       6,057     6,009       5,352  
      Net occupancy expense     893     702       706     707       769  
      Equipment expense     1,072     1,127       1,069     1,060       1,077  
      Data processing fees     1,439     821       758     727       769  
      Professional fees     1,034     895       659     615       758  
      Marketing expense     165     207       241     176       197  
      Telephone and communication expense     139     136       128     156       105  
      Postage and delivery expense     137     116       145     89       97  
      State, local and other taxes     224     224       208     230       245  
      Employee expense     174     168       228     159       178  
      Other expenses     896     422       804     743       735  
                             
        Total noninterest expense     12,410     11,003       11,003     10,671       10,282  
                             
                             
    Income before income tax expense     2,589     4,527       3,106     3,374       2,849  
                             
      Income tax expense     431     892       752     261       481  
                             
    Net income       $ 2,158   $ 3,635     $ 2,354   $ 3,113     $ 2,368  
                             
    Common share data:                    
      Basic earnings per common share   $ 0.33   $ 0.55     $ 0.35   $ 0.47     $ 0.35  
      Diluted earnings per common share $ 0.33   $ 0.55     $ 0.35   $ 0.47     $ 0.35  
                             
    Average shares outstanding (in thousands):                    
      Basic:     6,481     6,575       6,660     6,692       6,715  
      Diluted:     6,502     6,599       6,675     6,700       6,723  
    SB FINANCIAL GROUP, INC.
    CONSOLIDATED FINANCIAL HIGHLIGHTS – (Unaudited)
                         
    ($ in thousands, except per share & ratios) At and for the Three Months Ended
                         
        March   December   September   June   March
    SUMMARY OF OPERATIONS     2025       2024       2024       2024       2024  
                         
    Net interest income   $ 11,279     $ 10,897     $ 10,186     $ 9,659     $ 9,180  
    Tax-equivalent adjustment     41       42       44       43       43  
    Tax-equivalent net interest income     11,320       10,939       10,230       9,702       9,223  
    Provision for credit loss     387       (76 )     200       –       –  
    Noninterest income     4,107       4,557       4,123       4,386       3,951  
    Total operating revenue     15,386       15,454       14,309       14,045       13,131  
    Noninterest expense     12,410       11,003       11,003       10,671       10,282  
    Pre-tax pre-provision income     2,976       4,451       3,306       3,374       2,849  
    Net income     2,158       3,635       2,354       3,113       2,368  
                         
    PER SHARE INFORMATION:                    
    Basic earnings per share (EPS)     0.33       0.55       0.35       0.47       0.35  
    Diluted earnings per share     0.33       0.55       0.35       0.47       0.35  
    Common dividends     0.145       0.145       0.140       0.140       0.135  
    Book value per common share     20.29       19.64       20.05       18.80       18.46  
    Tangible book value per common share (TBV)     15.79       16.00       16.49       15.26       14.93  
    Market price per common share     20.82       20.91       20.56       14.00       13.78  
    Market price to TBV     131.8 %     130.7 %     124.7 %     91.8 %     92.3 %
    Market price to trailing 12 month EPS     12.2       12.1       11.8       7.9       7.9  
                         
    PERFORMANCE RATIOS:                    
    Return on average assets (ROAA)     0.60 %     1.04 %     0.68 %     0.93 %     0.71 %
    Pre-tax pre-provision ROAA     0.83 %     1.28 %     0.96 %     1.01 %     0.86 %
    Return on average equity (ROE)     6.63 %     11.13 %     7.32 %     10.16 %     7.72 %
    Return on average tangible equity     8.32 %     13.58 %     8.97 %     12.59 %     9.55 %
    Efficiency ratio     80.00 %     71.09 %     76.78 %     75.86 %     78.17 %
    Earning asset yield     5.23 %     5.18 %     5.16 %     5.02 %     4.97 %
    Cost of interest bearing liabilities     2.32 %     2.36 %     2.53 %     2.47 %     2.55 %
    Net interest margin     3.40 %     3.35 %     3.17 %     3.10 %     2.99 %
    Tax equivalent effect     0.01 %     0.01 %     0.02 %     0.01 %     0.01 %
    Net interest margin, tax equivalent     3.41 %     3.36 %     3.19 %     3.11 %     3.00 %
    Non interest income/Average assets     1.14 %     1.31 %     1.20 %     1.31 %     1.19 %
    Non interest expense/Average assets     3.45 %     3.15 %     3.20 %     3.18 %     3.08 %
    Net noninterest expense/Average assets     -2.31 %     -1.85 %     -2.00 %     -1.87 %     -1.90 %
                         
    ASSET QUALITY RATIOS:                    
    Gross charge-offs     87       195       29       –       66  
    Recoveries     2       13       2       16       9  
    Net charge-offs     85       182       27       (16 )     57  
    Nonperforming loans/Total loans     0.56 %     0.53 %     0.54 %     0.47 %     0.25 %
    Nonperforming assets/Loans & OREO     0.56 %     0.53 %     0.54 %     0.52 %     0.30 %
    Nonperforming assets/Total assets     0.41 %     0.40 %     0.40 %     0.39 %     0.22 %
    Allowance for credit loss/Nonperforming loans     254.35 %     273.68 %     276.83 %     329.78 %     642.69 %
    Allowance for credit loss/Total loans     1.41 %     1.44 %     1.48 %     1.55 %     1.58 %
    Net loan charge-offs/Average loans (ann.)     0.03 %     0.07 %     0.01 %     (0.01 %)     0.02 %
                         
    CAPITAL & LIQUIDITY RATIOS:                    
    Loans/ Deposits     85.61 %     90.81 %     88.82 %     90.15 %     89.14 %
    Equity/ Assets     8.76 %     9.24 %     9.53 %     9.35 %     9.26 %
    Tangible equity/Tangible assets     6.96 %     7.66 %     7.97 %     7.72 %     7.63 %
    Common equity tier 1 ratio (Bank)     12.35 %     13.43 %     13.19 %     13.98 %     13.84 %
                         
    END OF PERIOD BALANCES                    
    Total assets     1,501,002       1,379,517       1,393,949       1,342,186       1,336,012  
    Total loans     1,088,274       1,046,735       1,029,955       1,005,390       991,552  
    Deposits     1,271,220       1,152,605       1,159,533       1,115,188       1,112,342  
    Shareholders equity     131,526       127,508       132,841       125,479       123,723  
    Goodwill and intangibles     29,125       23,597       23,613       23,630       23,646  
    Tangible equity     102,401       103,911       109,228       101,849       100,077  
    Mortgage servicing portfolio     1,432,184       1,427,318       1,406,273       1,389,805       1,371,713  
    Wealth/Brokerage assets under care     519,158       547,697       557,724       525,713       525,517  
    Total assets under care     3,452,344       3,354,532       3,357,946       3,257,704       3,233,242  
    Full-time equivalent employees     262       252       248       249       245  
    Period end common shares outstanding     6,483       6,494       6,624       6,676       6,702  
    Market capitalization (all)     134,982       135,780       136,189       93,458       92,359  
                         
    AVERAGE BALANCES                    
    Total assets     1,459,896       1,395,473       1,376,849       1,342,847       1,333,236  
    Total earning assets     1,346,354       1,301,872       1,283,407       1,246,099       1,230,736  
    Total loans     1,076,328       1,040,580       1,018,262       1,005,018       993,310  
    Deposits     1,227,449       1,163,531       1,145,964       1,120,367       1,091,803  
    Shareholders equity     131,944       130,647       128,608       122,510       123,058  
    Goodwill and intangibles     26,714       23,605       23,621       23,638       23,654  
    Tangible equity     105,230       107,042       104,987       98,872       99,404  
    Average basic shares outstanding     6,481       6,575       6,660       6,692       6,715  
    Average diluted shares outstanding     6,502       6,599       6,675       6,700       6,723  
    SB FINANCIAL GROUP, INC.
      Rate Volume Analysis – (Unaudited)
      For the Three Months Ended Mar. 31, 2025 and 2024
               
      ($ in thousands) Three Months Ended Mar. 31, 2025     Three Months Ended Mar. 31, 2024
        Average   Average     Average   Average
    Assets Balance Interest Rate     Balance Interest Rate
                       
      Taxable securities $ 196,880   $ 1,276 2.63 %     $ 210,252   $ 1,413 2.70 %
      Overnight Cash   66,460     699 4.27 %       20,729     180 3.48 %
      Nontaxable securities   6,686     38 2.30 %       6,445     37 2.30 %
      Loans, net   1,076,328     15,359 5.79 %       993,310     13,670 5.52 %
                       
      Total earning assets   1,346,354     17,372 5.23 %       1,230,736     15,300 4.99 %
                       
      Cash and due from banks   10,339             4,512      
      Allowance for loan losses   (15,238 )           (15,830 )    
      Premises and equipment   21,082             21,281      
      Other assets   97,359             92,537      
                       
      Total assets $ 1,459,896           $ 1,333,236      
                       
    Liabilities                
      Savings, MMDA and interest bearing demand $ 709,324   $ 2,959 1.69 %     $ 605,243   $ 2,525 1.67 %
      Time deposits   276,253     2,393 3.51 %       258,592     2,565 3.98 %
      Repurchase agreements & other   13,106     24 0.74 %       15,993     34 0.85 %
      Advances from Federal Home Loan Bank   35,044     362 4.19 %       51,030     613 4.82 %
      Trust preferred securities   10,310     160 6.29 %       10,310     188 7.31 %
      Subordinated debt   19,694     195 4.02 %       19,646     195 3.98 %
                       
      Total interest bearing liabilities   1,063,731     6,093 2.32 %       960,814     6,120 2.55 %
                       
      Non interest bearing demand   241,872     –         227,968     –  
                       
      Total funding   1,305,603     1.89 %       1,188,782     2.06 %
            44.20 %         1  
      Other liabilities   22,349             21,396      
                       
      Total liabilities   1,327,952             1,210,178      
                       
      Equity   131,944             123,058      
                       
      Total liabilities and equity $ 1,459,896           $ 1,333,236      
                       
      Net interest income   $ 11,279         $ 9,180  
                       
      Net interest income as a percent of average interest-earning assets – GAAP measure 3.40 %         2.99 %
                       
      Net interest income as a percent of average interest-earning assets – non GAAP 3.41 %         3.00 %
      – Computed on a fully tax equivalent (FTE) basis             
    Non-GAAP reconciliation Three Months Ended
           
    ($ in thousands, except per share & ratios) Mar. 31, 2025   Mar. 31, 2024
           
    Total Operating Revenue $ 15,386     $ 13,131  
    Adjustment to (deduct)/add OMSR recapture/impairment *   (11 )     (181 )
           
    Adjusted Total Operating Revenue   15,375       12,950  
           
           
    Total Operating Expense $ 12,410     $ 10,282  
    Adjustment for merger expenses   (726 )     –  
           
    Adjusted Total Operating Expense   11,684       10,282  
           
           
    Income before Income Taxes   2,589       2,849  
    Adjustment for OMSR*/Merger Expenses   715       (181 )
           
    Adjusted Income before Income Taxes   3,304       2,668  
           
           
    Provision for Income Taxes   431       481  
    Adjustment for OMSR/Merger Expenses **   150       (38 )
           
    Adjusted Provision for Income Taxes   581       443  
           
           
    Net Income   2,158       2,368  
    Adjustment for OMSR*/Merger Expenses   565       (143 )
           
    Adjusted Net Income   2,723       2,225  
           
           
    Diluted Earnings per Share   0.33       0.35  
    Adjustment for OMSR*/Merger Expenses   0.09       (0.02 )
           
    Adjusted Diluted Earnings per Share $ 0.42     $ 0.33  
           
           
    Return on Average Assets   0.60 %     0.71 %
    Adjustment for OMSR*/Merger Expenses   0.15 %     -0.04 %
           
    Adjusted Return on Average Assets   0.75 %     0.67 %
           
    *valuation adjustment to the Company’s mortgage servicing rights    
           
    **tax effect is calculated using a 21% statutory federal corporate income tax rate

    The MIL Network –

  • MIL-OSI USA: Strickland, Randall Re-Launch Puget Sound Recovery Caucus

    Source: United States House of Representatives – Congresswoman Marilyn Strickland (WA-10)

    Washington, D.C. – Today, during the annual Puget Sound Day on the Hill, U.S. Representatives Marilyn Strickland (WA-10) and Emily Randall (WA-06) announced the re-launch of the Puget Sound Recovery Caucus for the 119th Congress.

    The Caucus, which was founded in 2013 by then-Representatives Denny Heck and Derek Kilmer, focuses on recovering Puget Sound through steps like preventing pollution from urban stormwater runoff, protecting and restoring habitat, and restoring and re-opening shellfish beds. Representative Emily Randall, who was elected in 2024, replaces Kilmer as Co-Chair.

    “The Puget Sound is a national treasure, not only because of its breathtaking beauty, but also because of how critical it is to our economy, jobs, tribal treaty rights, and the environment. We all know how vital the Puget Sound is to our fish and wildlife habitat, biodiversity, and water supply – which is all the more reason to act now. I look forward to the re-launch of the Puget Sound Recovery Caucus, alongside my colleague, Congresswoman Randall, to ensure that we have federal support for the Puget Sound’s recovery and revitalization,” said Strickland.

    “I am elated to join Rep. Strickland in co-leading the Puget Sound Recovery Caucus. The Puget Sound is a cornerstone of our region’s natural beauty, and a vital ecosystem whose health is inextricably linked to our communities, culture, and economy. Yet, it faces persistent and growing threats that demand urgent and sustained action,” said Rep. Emily Randall. “Through the work of this Caucus, we hope to help direct the federal government’s enduring commitment to protecting and restoring this irreplaceable resource — from revitalizing salmon populations and safeguarding critical habitats to advancing broader climate resilience. I am deeply grateful to our partners for their unwavering dedication to preserving the Puget Sound for generations to come.”

    “The Puget Sound Recovery Caucus has long been a strong advocate in Congress for the recovery and protection of Puget Sound, and we are proud to support the relaunch of this important effort,” said Larry Epstein, Deputy Director of the Puget Sound Partnership. “We are fortunate to have such dedicated leadership in our congressional delegation. Through their support, we can continue making investments that protect public health, strengthen local economies, restore vital salmon habitats, and build resilience against flooding.”

    “We welcome the continued leadership of Rep. Marilyn Strickland and fresh energy from Rep. Emily Randall as they carry on the work that Reps. Denny Heck and Derek Kilmer began when they created the Puget Sound Recovery Caucus in 2013,” said Ed Johnstone, Chairman of the Northwest Indian Fisheries Commission. “Recovering Puget Sound is absolutely essential to the protection and continued exercise of our treaty-protected rights. The Puget Sound Recovery Caucus can help us build climate resilience and face ongoing challenges from unchecked human development and recreational impacts from an ever-expanding population.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: King, Daines Introduce Bipartisan Bill to Preserve America’s Parks and Public Lands

    US Senate News:

    Source: United States Senator for Maine Angus King

    WASHINGTON, D.C. — U.S. Senators Angus King (I-ME) and Steve Daines (R-MT), leaders of the Senate National Parks Subcommittee, are introducing bipartisan legislation to strengthen and better manage public lands across the country. The America the Beautiful Act would reauthorize the National Parks and Public Land Legacy Restoration Fund (LRF) and increase its funding to address serious maintenance backlog and ensure that America’s public lands can be enjoyed for generations to come. 

    Senator King first introduced the bipartisan Restore Our Parks Act in July 2018 which established the “National Park Service Legacy Restoration Fund” to reduce the maintenance backlog by allocating existing revenues the government collects from on and offshore energy development. It was passed in the 2020 Great American Outdoors Act, but now requires reauthorization.

    “People travel from across the globe to experience the natural beauty of America’s public lands — from Maine to Montana and across the nation,” said Senator King, Ranking Member of the Senate National Parks Subcommittee. “However, deferred repairs on aging infrastructure like roads and trails can become unsafe and diminish the visitor experience for those enjoying our public lands and National Parks. By addressing maintenance backlog and reauthorizing the Legacy Restoration Fund, the bipartisan America the Beautiful Act will help better protect our lands and the visitor experience. This is an important step forward in creating lasting protections for our public lands and continues to demonstrate that stewardship is not partisan.”

    “When President Trump signed my Great American Outdoors Act into law in 2020, it was the greatest conservation win for Montana and the entire country in 50 years. I’m proud to work with my colleagues to strengthen that win and protect our outdoor way of life for generations to come,” said Senator Daines, Chairman of the Senate National Parks Subcommittee. “The America the Beautiful Act will fund crucial projects and address maintenance backlogs, so that people can get outside and enjoy the natural beauty we’re lucky to have here in the U.S.” 

    “America’s parks are our legacy to uphold — and bold action is essential to fulfill that promise. The National Park Foundation applauds Senators Daines and King for their leadership in introducing bipartisan legislation to reauthorize the Legacy Restoration Fund,” said Jeff Reinbold, President and CEO of the National Park Foundation. “Since its establishment through the Great American Outdoors Act, this vital program has already delivered billions toward transformative infrastructure projects across our national parks. As we approach America’s 250th anniversary, reauthorizing this investment affirms a bold democratic ideal — that every generation deserves to experience our parks as we do today. We look forward to working with Congress to ensure these magnificent landscapes and historic sites can continue welcoming visitors for generations to come.”

    “We applaud the leadership of U.S. Senators Steve Daines (R-MT) and Angus King (I-ME) in reintroducing legislation to reauthorize the Legacy Restoration Fund. This proven, bipartisan investment keeps national parks running. The reauthorization of this bill will allow Acadia National Park to continue to make progress against a long list of needed projects that are essential for protecting resources and elevating the visitor experience. With nearly 4 million visits to Acadia in 2024 alone, and over 330 million to national parks nationwide, continued investment to maintain park infrastructure is critical,”  said Eric Stiles, President & CEO, Friends of Acadia.

    The America the Beautiful Act reauthorizes the LRF for through 2033 and increases funding to $2 billion per year to help address the maintenance backlog in national parks and public lands. Currently, the maintenance backlog for each agency is as follows:

    1. U.S. Park Service: $23.26 billion
    2. U.S. Forest Service: $8.695 billion
    3. U.S. Fish and Wildlife Service: $2.65 billion
    4. U.S. Bureau of Land Management: $5.72 billion
    5. U.S. Bureau of Indian Education: $804.5 million

    Senators Kevin Cramer (R-ND), Mark Warner (D-VA), Tim Sheehy (R-MT), and Jeanne Shaheen (D-NH) are original cosponsors of the America the Beautiful Act. The legislation is supported by over 40 public lands, conservation and recreation groups. 

    Read the bill text HERE and a one pager on the bill HERE.

    As a lifelong advocate for conservation and Chairman of the Energy and Natural Resources Subcommittee on National Parks, Senator King is among the Senate’s most prominent voices advocating for conservation. Senator King helped lead the passage the Great American Outdoors Act (GAOA) into law; the legislation that included the Legacy Restoration Fund (LRF). Because of his work, in 2020, Senator King was awarded the inaugural National Park Foundation (NPF) “Hero” Award. Since the creation of the LRF, Senator King has pushed park leaders to discuss funding maintenance efforts, maintaining a sufficient NPS workforce, and managing growing park visitation.

    Senator King’s work on this legislation is the culmination of more than four decades of work on land conservation efforts in Maine, including helping to establish the Land for Maine’s Future program in 1987 and supporting extensive conservation projects during his time as Governor. Under King’s leadership in his eight years as Maine governor, he put more Maine land under conservation than in the state’s 175 year history.

    MIL OSI USA News –

  • MIL-OSI Security: South Bend Man Sentenced to 82 Months in Prison

    Source: Office of United States Attorneys

    SOUTH BEND – Johnny Daniels, 44 years old, of South Bend, Indiana, was sentenced by United States District Court Judge Cristal C. Brisco after pleading guilty to being a convicted felon in possession of a firearm, announced Acting United States Attorney Tina L. Nommay.

    Daniels was sentenced to 82 months in prison followed by 3 years of supervised release.

    According to documents in the case, in April 2024 Daniels illegally possessed a loaded firearm while he assaulted and threatened the life of another person during the course of stealing items from a residence. Daniels’ prior convictions include numerous felony offenses, any one of which make it unlawful for him to possess the firearm in this case, including a robbery in which the victim was shot and killed.

    This case was investigated by the Bureau of Alcohol, Tobacco, Firearms and Explosives with assistance from the South Bend Police Department and the St. Joseph County Prosecutor’s Office.  The case was prosecuted by Assistant United States Attorney Joseph P. Falvey.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

  • MIL-OSI USA: NASA Invests in Future STEM Workforce Through Space Grant Awards 

    Source: NASA

    NASA is awarding up to $870,000 annually to 52 institutions across the United States, the District of Columbia, and Puerto Rico over the next four years. The investments aim to create opportunities for the next generation of innovators by supporting workforce development, science, technology, engineering and math education, and aerospace collaboration nationwide. 
    The Space Grant College and Fellowship Program (Space Grant), established by Congress in 1989, is a workforce development initiative administered through NASA’s Office of STEM Engagement (OSTEM). The program’s mission is to produce a highly skilled workforce prepared to advance NASA’s mission and bolster the nation’s aerospace sector. 
    “The Space Grant program exemplifies NASA’s commitment to cultivating a new generation of STEM leaders,” said Torry Johnson, deputy associate administrator of the STEM Engagement Program at NASA Headquarters in Washington. “By partnering with institutions across the country, we ensure that students have the resources, mentorship, and experiences needed to thrive in the aerospace workforce.” 
    The following is a complete list of awardees: 

    University of Alaska, Fairbanks 

    University of Alabama, Huntsville 

    University of Arkansas, Little Rock 

    University of Arizona 

    University of California, San Diego 

    University of Colorado, Boulder 

    University of Hartford, Connecticut 

    American University, Washington, DC 

    University of Delaware 

    University of Central Florida 

    Georgia Institute of Technology 

    University of Hawaii, Honolulu 

    Iowa State University, Ames 

    University of Idaho, Moscow 

    University of Illinois, Urbana-Champaign 

    Purdue University, Indiana 

    Wichita State University, Kansas 

    University of Kentucky, Lexington 

    Louisiana State University and A&M College 

    Massachusetts Institute of Technology 

    Johns Hopkins University, Maryland 

    Maine Space Grant Consortium 

    University of Michigan, Ann Arbor 

    University of Minnesota 

    Missouri University of Science and Technology 

    University of Mississippi 

    Montana State University, Bozeman 

    North Carolina State University 

    University of North Dakota, Grand Forks 

    University of Nebraska, Omaha 

    University of New Hampshire, Durham 

    Rutgers University, New Brunswick, New Jersey 

    New Mexico State University 

    Nevada System of Higher Education 

    Cornell University, New York 

    Ohio Aerospace Institute 

    University of Oklahoma 

    Oregon State University 

    Pennsylvania State University 

    University of Puerto Rico 

    Brown University, Rhode Island 

    College of Charleston, South Carolina 

    South Dakota School of Mines & Technology 

    Vanderbilt University, Tennessee 

    University of Texas, Austin 

    University of Utah, Salt Lake City 

    Old Dominion University Research Foundation, Virginia 

    University of Vermont, Burlington 

    University of Washington, Seattle 

    Carthage College, Wisconsin 

    West Virginia University 

    University of Wyoming 

    Space Grant operates through state-based consortia, which include universities, university systems, associations, government agencies, industries, and informal education organizations engaged in aerospace activities. Each consortium’s lead institution coordinates efforts within its state, expanding opportunities for students and researchers while promoting collaboration with NASA and aerospace-related industries nationwide. 
    To learn more about NASA’s missions, visit: https://www.nasa.gov/ 

    MIL OSI USA News –

  • MIL-OSI Security: Sapulpa Woman Sentenced for Second Degree Murder

    Source: Office of United States Attorneys

    TULSA, Okla. – A Sapulpa woman was sentenced today for Second Degree Murder in Indian Country, announced U.S. Attorney Clint Johnson.

    U.S. District Judge John D. Russell sentenced Christin Brianna Kelley, 35, to 240 months imprisonment, followed by five years of supervised release.

    Shortly after 4:00 a.m. on the morning of January 9th, 2024, Kelley and the victim, Isaac Smith, were sitting in a car in the parking lot of a gas station in Sand Springs. Kelley shot Isaac Smith several times, killing him. Law enforcement recovered the loaded pistol Kelley used in a trash can near the car.

    Kelley is a citizen of the Muscogee (Creek) Nation and will remain in custody pending transfer to the U.S. Bureau of Prisons.

    The FBI, the Sand Springs Police Department, and the Oklahoma State Bureau of Investigations investigated the case, and Assistant U.S. Attorneys Eric Johnston and Stephen Flynn prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    MIL Security OSI –

  • MIL-OSI Asia-Pac: Need to transform global IP ecosystem; IP acts as catalyst for employment, development and innovation for all countries: Daren Tang, Director General, WIPO

    Source: Government of India

    Need to transform global IP ecosystem; IP acts as catalyst for employment, development and innovation for all countries: Daren Tang, Director General, WIPO

    The session on “The Role of IP & Copyright for Audio-Visual Performers and Content Creators” sparks insightful dialogue at WAVES 2025

    Posted On: 01 MAY 2025 8:06PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    A panel discussion titled “The Role of IP & Copyright for Audio-Visual Performers and Content Creators” was held today at the World Audio Visual and Entertainment Summit (WAVES) currently underway at the Jio World Centre in Mumbai. This session brought together influential voices from the global entertainment, legal and creative industries to discuss the role of intellectual property (IP) rights in empowering creators in the digital age.

    The panel addressed the evolving legal landscape and highlighted the urgent need for stronger awareness and protection of IP rights, especially for performers and content creators whose work is increasingly vulnerable to unauthorised use and exploitation.

    Shri Ameet Datta, veteran lawyer, moderated the session, steering a dynamic discussion among an esteemed panel of experts and creators. The panel included Mr. Daren Tang, Director General of the World Intellectual Property Organization (WIPO), who offered a global perspective on policy frameworks and WIPO’s efforts to strengthen protections for performers worldwide. He said that India’s IP journey in last 5 decades is extraordinary and its creative economy grows tremendously. He said that there is a need to transform global IP ecosystem as IP acts as catalyst for employment, development and innovation for all countries. Talking about WIPO’s creative economy data model, he said that it is helping policy makers, economists and creators of its member states to find better metrics to measure creative economy.

    Feroz Abbas Khan, acclaimed director and playwright, shared insights from his decades-long experience in theatre and the challenges of safeguarding original creative works. He said that IP is about human dignity and society should first respect the work of artists.

    Steve Krone, noted film and television producer, emphasized the importance of copyright in protecting investments in audio-visual storytelling and the need for standardized global enforcement mechanisms. He said that copyright is not just about money but about controlling the works of creators from exploitation.

    Anjum Rajabali, veteran screenwriter, spoke about the creative process and the necessity for writers to understand and claim their rights in an increasingly complex content economy. He said that today access is far easy and restrictions should be there.

    Throughout the session, the panellists delved deeply into copyright ownership, licensing, moral rights, the impact of AI and the balance between access and protection in a rapidly digitising world.

     

    * * *

    PIB TEAM WAVES 2025 | Rajith/ Poushali /Barnali / Darshana | 131

    (Release ID: 2125906) Visitor Counter : 61

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: “Braving the Odds, Scripting a New Narrative”: WAVES 2025 celebrates courage, equality and resilience in M&E

    Source: Government of India

    “Braving the Odds, Scripting a New Narrative”: WAVES 2025 celebrates courage, equality and resilience in M&E

    Ariane Hingst, Former German Footballer and World Champion, Advocates for Equal Opportunities in Sports, at WAVES 2025

    Bianca Balti highlights the power of social media in challenging inequality and promoting fair representation at WAVES 2025

    Rona-Lee Shimon highlights media’s role in strengthening female voices and breaking cinema stereotypes at WAVES 2025

    Posted On: 01 MAY 2025 8:45PM by PIB Mumbai

    Mumbai, 1stMay, 2025

    The panel discussion on the theme”Braving the Odds, Scripting a New Narrative” held at WAVES 2025 Global Summit today featured three inspiring speakers – Rona-Lee Shimon, well-known Israeli Actress famous for her strong roles in action-packed dramas like Fauda; Bianca Balti, globally recognized Italian model and cancer survivor; and Ariane Hingst, former German footballer and world champion – who have overcome personal or professional challenges while excelling in their fields.

     

    Instead of being held back by these challenges, the speakers used them as a chance to grow and build a new path forward. WAVES 2025 is all about celebrating people who turn tough experiences into strength and use their journeys to inspire others. It is a platform that honors courage, change and leadership, especially by those who break social barriers or rise above difficult situations.

    During the event, Ariane Hingst shared her journey as a professional footballer in a male-dominated sport. She spoke about overcoming gender bias to become a world champion and how she now uses her voice to promote fairness and equality in sports. She highlighted the lack of media coverage and proper platforms for women’s football compared to men’s and stressed the need for equal opportunities and recognition for women athletes.

     

    As part of the panel discussion, Bianca Balti, a globally recognized model and cancer survivor, shared her powerful story of resilience and her return to work after recovery. She spoke about the gender pay gap in the modeling industry, pointing out that female models are often paid less than their male counterparts and that men still occupy more space in media. Bianca emphasized that the true power of media especially social media lies in its ability to create change. It can help raise unheard voices, challenge inequality and promote fair representation, particularly for women.

     

     

    During the event, Rona-Lee Shimon highlighted that WAVES provides a platform for storytellers to change narratives and bring people together. She emphasized the importance of women uniting to create new opportunities in cinema, encouraging them to be brave, support one another, and not be afraid to stand up for change. She also noted that social media plays a key role in this movement by giving women the power to share their voices and stories. Known for her strong and dynamic roles on screen, Rona-Lee continues to break stereotypes in the entertainment industry, proving that strength, action, and depth are not defined by gender.

     

     

    Each speaker has faced personal or professional odds and instead of being defined by them, they’ve used those moments to rewrite their own story. That is exactly what WAVES 2025 stands for: celebrating individuals who are not just surviving challenges, but transforming them into platforms for change and inspiration.

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  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah unveils statue and naming of Road and Rotary in New Delhi as a Tribute to Bodofa Upendranath Brahma

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah unveils statue and naming of Road and Rotary in New Delhi as a Tribute to Bodofa Upendranath Brahma

    The statue of Bodofa Upendranath Brahma is a tribute not only to Bodoland but to all the people of the country who struggled for the development of their language and religion

    The Bodofa statue in New Delhi is a symbol of self-respect of the tribal society across the country

    Bodofa known for his peaceful fight for respect, identity and equal rights not only for Bodoland and Bodo tribe but for the entire tribal community

    We have solved 96 per cent of the issues of the Bodo Accord and will soon resolve 100 per cent of the issues

    Modi government has made more than 20 agreements in North East, more than 10 thousand people from there have surrendered their weapons and come into the mainstream and 78 per cent of the issues have been fulfilled by Modi government in the last 3-4 years

    Now the Bodo youth should carry forward the basic concept of Batho religion with the principle of live and let live and contribute to the development of Assam

    Posted On: 01 MAY 2025 8:54PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah today unveiled the statue and naming of Road and Rotary as a tribute to Bodofa Upendranath Brahma in New Delhi. Many dignitaries including Assam Chief Minister Dr. Himanta Biswa Sarma and Delhi Chief Minister Smt. Rekha Gupta were present on the occasion.

    In his address, Union Home Minister and Minister of Cooperation Shri Amit Shah said that today is the 35th death anniversary of Bodofa Upendranath Brahma, who fought for the respect and rights of his community and region all his life. To pay tribute to him, today his life-size statue and an important road in the capital Delhi have been named as Bodofa Upendranath Brahma Marg. Shri Shah said, the statue of Bodofa Upendranath Brahma is a tribute not only to Bodoland but to all the people of the country who struggled for the development of their language and religion. The Bodofa statue in New Delhi is a symbol of self-respect of the tribal society across the country.

    Shri Shah said that the statue installed in Delhi is not only a matter of respect for Bodoland but also for the struggle made by small tribes across the country for the upliftment and development of their language, religion, caste and the people.

    While paying tribute to those who lost their lives in the Pahalgam terror attack, the Home Minister told the families of those who lost their lives in the attack that this is not just their loss but the loss of the entire nation. Shri Shah said that the pain of the loss of lives in the Pahalgam attack is as much in the hearts of their families as it is in the heart of every citizen of the country. He said that, Prime Minister Shri Narendra Modi has a zero tolerance policy against those involved in terrorism in Kashmir and we are fighting our battle strongly. The Home Minister said that the terrorists should not think that today they have won this battle by taking the lives of our citizens. Shri Shah said that this is not the end of the battle and every person responsible for terrorism will be answered and will also be asked to answer.

    Shri Amit Shah said that under the leadership of Prime Minister Shri Narendra Modi, whether it’s insurgency in North East, Left Wing Extremism or terrorism in Kashmir, all these have been given befitted reply. He said that if anyone thinks that they have won by carrying out cowardly attacks, then they should know that this is the Modi Government which will not spare anyone. The Home Minister said that the resolve of the Modi Government to root out terrorism from the soil of India will be fulfilled. He said that not only 140 crore Indians but the entire world is standing with India in this fight. All the countries of the world are unitedly standing with the people of India in the fight against terrorism. He said that our fight will continue till terrorism is not eliminated and those who have committed this misdeed will definitely be punished.

    Union Home Minister said that today a 9 feet high statue of Bodofa Upendranath Brahma has been unveiled. Bodofa is known for fighting for respect, identity and equal rights not only for Bodoland and Bodo community but also for the entire tribal community. Shri Shah said that a tribal child born in a remote area of ​​the country united the entire tribal society and taught them to fight for their rights in a peaceful manner. Bodofa brought together people of all tribes living in abject poverty. Shri Shah said that today Bodofa is no more but his formula of live and let live has been accepted by the entire Bodoland and tribal society. He said that after the sacrifice of thousands of youth, today our Bodoland has moved ahead on the path of peace and development. Today the whole of Assam accepts the people of Bodoland and Bodoland accepts Assam. He said that the Bodo people have as much right on this country as all of us. The Home Minister said that since 2014, the government running in the country under the leadership of Prime Minister Modi believes that everyone has a right on India and India has a right on everyone and under this principle, today Bodoland has moved ahead on the path of development.

    Shri Amit Shah said that after 9 months of extensive discussion, the Bodo Accord was signed in 2020 and all the people have joined the mainstream by laying down their arms. He said that the Modi government also abides by whatever agreements it makes. Our government is also abiding by the agreements made during the tenure of the previous government. He said that we have cleared 96 per cent of the issues of the Bodo Accord and will soon resolve 100 per cent of the issues. Shri Shah said that this is a huge gift of the Modi government to the people of Assam and the North East. He said that the Modi government has signed more than 20 agreements in the North East and more than 10 thousand people have laid down their arms and joined the mainstream. In more than 20 agreements, 78 per cent of the issues have been fulfilled by the Modi government in the last 3-4 years. He said that this shows that we do what we say and today the whole of Assam has moved forward on the path of peace.

    Union Home Minister and Minister of Cooperation said that now the Bodo youth should carry forward the basic idea of ​​Bathou religion with the motto of live and let live and contribute to the development of Assam. He said that today Assam has become a center of attraction for industrial investment in the entire country and many industries are developing in Assam. He said that our North East has more than 220 ethnic groups, over 160 tribes, more than 200 languages ​​and dialects, more than 50 unique festivals, over 30 traditional dance styles and more than 100 delicious dishes. Home Minister said that the culture of North East and Assam is a priceless jewel of the culture of India. Prime Minister Shri Narendra Modi has done a lot of work for the development of Assam and North East. Shri Narendra Modi is the only Prime Minister who has visited North East more than 50 times after becoming the Prime Minister. Shri Shah said that Prime Minister Shri Narendra Modi has visited even the remote areas like Bodoland many times, which shows that our North East is a very big and important part of the country. He said that the culture and strength of the North East are priceless and the Modi government is working with this objective of using the strength of the entire nation in the development of the North East.

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  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah addresses a Programme on Gujarat Day and Maharashtra Day in New Delhi

    Source: Government of India

    Union Home Minister and Minister of Cooperation Shri Amit Shah addresses a Programme on Gujarat Day and Maharashtra Day in New Delhi

    Prime Minister Shri Narendra Modi has taken steps to to preserve the purity and sanctity of Yamuna water from Yamunotri to Prayagraj and to build a riverfront on the lines of Sabarmati in Delhi

    Purification of Yamuna is of great importance not only for the people of Delhi and neighboring states but also for all Indians who worship Shri Krishna and Yamuna ji

    Gujarat and Maharashtra, formed out of one state, have set an excellent example of developing the country through their own development by respecting each other and having healthy competition between the two states without any bitterness against each other

    Prime Minister Shri Narendra Modi by taking the resolution of Ek Bharat Sreshtha Bharat has foiled all evil ideas that weaken our unity, the result is today every language and culture draws strength from each other

    If a person decides in his heart that everything that causes disintegration should be eliminated, then Prime Minister Modi has given an ideal example of this by imagining Ek Bharat Shreshtha Bharat

    Maharashtra, the land of Veer Chhatrapati, keeping up with its tradition, gave a strong fight to the Mughals and kept the flag of Swabhasha, Swaraj and Swadharma fluttering

    Today Garba is celebrated with equal enthusiasm in Maharashtra and during Ganesh festival in Gujarat, Ganpati is brought to every house with reverance

    Vibrant Gujarat and Magnificent Maharashtra are strong pillars of the country’s development

    Under the leadership of Prime Minister Modi, both the states have finalized their development roadmap till 2047

    Posted On: 01 MAY 2025 8:45PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Minister Shri Amit Shah today addressed a program on the occasion of Gujarat and Maharashtra Day in New Delhi. Many dignitaries including Union Minister Dr. Mansukh Mandaviya, Lieutenant Governor of Delhi Shri VK Saxena and Chief Minister of Delhi Smt. Rekha Gupta were present on the occasion.

    In his address, Union Home Minister and Minister of Cooperation Shri Amit Shah said that Prime Minister Shri Narendra Modi has taken steps to preserve the purity and sanctity of Yamuna water from Yamunotri to Prayagraj and to build a riverfront on the lines of Sabarmati in Delhi. He said that purification of Yamuna is of utmost importance not only for the people of Delhi and its neighboring states but also for all Indians who worship Shri Krishna and Yamuna ji.

    Union Home Minister said that today is the foundation day of both Gujarat and Maharashtra. He said that Gujarat and Maharashtra have set an excellent example of how two states formed out of one state can lead the country through their development by respecting each other and with a healthy competition between them without any bitterness. He said that people who wanted to divide the country by making the issues of boundaries, language and culture were succeeding in their ill intentions but Prime Minister Shri Narendra Modi ji foiled all these evil ideas. He said Shri Narendra Modi has taken the resolution of Ek Bharat, Shreshtha Bharat, the result of which is that today every language and culture draws strength from each other.

    Shri Amit Shah said that there is no competition between Marathi and Gujarati and both are great languages ​​in their own places. He said that the idea of Ek Bharat Shreshtha Bharat is an ideal example of how one can fight against those that adversely impact our unity. He said that on May 1, 1960, two states were born from the state of Mumbai, one became glorious Gujarat and the other became great Maharashtra. He said that both the states have contributed a lot in solving every problem of the country and taking development forward for many years.

    Union Home Minister and Minister of Cooperation said that Maharashtra, the land of Veer Chhatrapati, carried forward his tradition and from Bajirao Peshwa to other generals, gave a strong fight to the Mughals and raised the flag of mother language, self rule and self religion.

    He said that the first idea of ​​complete independence was put forward by young Shivaji Maharaj and when the British rule came it was taken forward by Lokmanya Bal Gangadhar Tilak Maharaj who gave the slogan of Swaraj is my birthright,. Shri Shah said that whether it is Bhakti movement or the progressive path of social reform, Jyotiba Phule, Babasaheb Dr. Bhimrao Ambedkar Ji, all showed the way not only to Maharashtra but to the entire country. He said that Veer Savarkar ji became the source of inspiration for crores of youth across the country as a dedicated patriot.

    Shri Amit Shah said that Gujarat was also the karmabhoomi of Shri Krishna and the birthplace of Swami Dayanand Saraswati. He said that many strong empires were born in Gujarat and in the freedom struggle, Mahatma Gandhi and Sardar Patel worked to give shape to the entire freedom movement. He said that after independence, India has been able to cover such a long distance today only under the leadership of Prime Minister Shri Narendra Modi in achieving the goal of development and uniting the country and strengthening it to reach the highest position in the world.

    Union Home Minister said that the contribution of both Maharashtra and Gujarat in the development of India has been huge before and after independence. He said that today Garba is celebrated with the same enthusiasm in Maharashtra and during Ganesh Utsav in Gujarat, Ganpati is brought to every house with respect. He said that this is the biggest strength of our country. Shri Shah said that both the states are standing as very strong pillars of the country’s economic development. He said that Maharashtra has always been the economic capital of the country and even today it is the country’s largest economy. Home Minister said that Gujarat’s GSDP has also crossed 30 lakh crores and it is the third largest economy of the country. Gujarat has the largest port, the largest refinery, Asia’s largest renewable energy park, the first bullet train will go from Gujarat, the first GIFT city and now Dholera Smart City is also being built in Gujarat. He said that Vibrant Gujarat and Magnificent Maharashtra have become strong pillars of the country’s development. He said that under the leadership of Prime Minister Modi, both the states have finalized the roadmap for their development till 2047.

    Shri Amit Shah said that Gujarat and Maharashtra have accepted modernity while preserving their heritage and have contributed a lot to the unity and integrity of the country. He said that in Modi ji’s vision of a great India, both the states have accepted the formula of healthy competition between the states and the development of the country through it. Shri Shah said that when a developed India will be formed in 2047, both the states will have the biggest contribution in it.

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  • MIL-OSI Asia-Pac: Assamese Filmmakers and Actors join the Discussion on “Challenges and Prospects of Cinema in Northeast India” at WAVES 2025

    Source: Government of India

    Assamese Filmmakers and Actors join the Discussion on “Challenges and Prospects of Cinema in Northeast India” at WAVES 2025

    Northeast is a reservoir of talent: Jahnu Barua

    “Assam needs OTT platforms to better market its films”, says Jatin Bora

    Our languages carry centuries of oral history: Aimee Barua

    Posted On: 01 MAY 2025 8:36PM by PIB Mumbai

    Mumbai, 1 May 2025

    In a landmark moment for Northeast Indian cinema, a panel discussion titled “Challenges and Prospects of Cinema in Northeast India” was held at the World Audio Visual and Entertainment Summit (WAVES) 2025 at the Jio World Centre in Mumbai. The session brought together some of the most prominent voices from the region’s film industry to explore its vibrant cinematic landscape.


    The panel featured acclaimed filmmakers and actors including Jahnu Barua, Jatin Bora, Ravi Sarma, Aimee Baruah, HaobamPaban Kumar, and Dominic Sangma, all of whom have played instrumental roles in shaping the film culture of the Northeast.

     

    The discussion addressed a range of challenges faced by filmmakers in the region, including inadequate production infrastructure, language barriers, limited market access and a lack of institutional support. Despite these hurdles, the panelists unanimously agreed that the Northeast remains a fertile ground for cinematic innovation and cultural storytelling.

    Veteran filmmaker Jahnu Barua remarked thatthe Northeast is a reservoir of talent. Filmmakers from this region are producing remarkable work. He emphasized the region’s rich socio-cultural fabric and its abundance of untold stories. The future of Northeast cinema is very bright, with many young talents emerging, he added.

    Jatin Bora, a celebrated actor from Assam, highlighted the limited reach of Northeastern films beyond regional boundaries. Speaking on the need for digital distribution, he said, Assam needs OTT platforms to better market its films. He urged the government to support the creation of such platforms to help regional films reach broader audiences. He also called on both central and state governments to develop long-term policies to support the regional film ecosystem, stressing that without a robust distribution network, even the best films struggle to cross state lines.

    Ravi Sarma spoke about the urgent need for systemic investment in the region’s creative infrastructure. Financial backing and marketing infrastructure are crucial for the growth of the regional industry. The Northeast holds millions of beautiful and unique stories, he said.

    Actor-director Aimee Baruah focused on the role of cinema in preserving linguistic diversity. “Our languages carry centuries of oral history. Film is a powerful medium to protect and promote them,” she noted.

    Filmmakers HaobamPaban Kumar and Dominic Sangma shared insights into grassroots-level filmmaking in the region, pointing out how many storytellers continue to work without formal support systems.

    The session concluded on a hopeful note, with panellists calling for policy reforms, regional collaborations, and strategic use of OTT platforms to break traditional barriers. They urged all stakeholders, government bodies, private investors and national studios to come together in recognizing and elevating the cinematic voices of the Northeast.

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  • MIL-OSI Asia-Pac: Mukesh Ambani Unveils Vision for India-Led Global Entertainment Revolution at WAVES 2025

    Source: Government of India

    Mukesh Ambani Unveils Vision for India-Led Global Entertainment Revolution at WAVES 2025

    Let ‘WAVES’ be the message of hope from a resurgent new India to the world: Mukesh Ambani

    Media & Entertainment is not just India’s soft power—It’s India’s real power: Ambani

    Posted On: 01 MAY 2025 8:32PM by PIB Mumbai

    Mumbai, 1 May 2025

    “India is not just a nation—it is a civilization of stories, where story-telling is a way of life”, said Shri Mukesh Ambani, Chairman and Managing Director of Reliance Industries, as he delivered the keynote address at WAVES 2025, the pioneering global media and entertainment summit started in Mumbai today.

    In a rousing and forward-looking address titled “Building the Next Global Entertainment Revolution from India,” Ambani envisioned a future where India becomes the epicentre of the world’s entertainment industry. He credited the bold vision of Prime Minister Shri Narendra Modi for inspiring this transformation and hailed the WAVE Summit as a historic step in that direction. “People say Media & Entertainment is India’s soft power—I call it India’s real power,” said Ambani, affirming the country’s rising influence in global culture and creativity.

    He identified two tectonic shifts reshaping the creative landscape: geo-economics and technology. As the economic might of the Global South surges—home to 85% of the world’s population—so does its role in content creation and consumption. At the same time, cutting-edge technologies like Artificial Intelligence are revolutionizing every stage of the entertainment value chain, from content creation to distribution. “AI is dissolving the boundaries between imagination and execution. What AI is doing for entertainment today is a million times more transformative than what the silent camera did for cinema a century ago”, he flagged.

    Highlighting India’s unique strengths, Ambani said that the country is poised to lead the entertainment revolution, powered by three pillars; Compelling Content, Dynamic Demography and Technological Leadership. “India’s digital revolution is not just a story of scale—it is a story of aspiration, ambition, and transformation,” he declared.

    Concluding his keynote, Ambani offered a message of optimism: “In a polarized and uncertain world, people seek joy, connection, and inspiration. India will answer this global hunger for entertainment. Let WAVES be the message of hope from a resurgent new India to the world.”

     

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  • MIL-OSI Asia-Pac: Day One of NAM Conclave Witnesses Dynamic Participation from State & UT Ayush/Health Ministers, Paving Way for Strengthened Ayush Collaboration

    Source: Government of India

    Day One of NAM Conclave Witnesses Dynamic Participation from State & UT Ayush/Health Ministers, Paving Way for Strengthened Ayush Collaboration

    Our Goal is Illness to Wellness leading to Happiness: Hon’ble Union Minister of State (IC), Ministry of Ayush Prataprao Jadhav

    11.56 crore benefit from Ayushman Arogya Mandir (Ayush) in 2024: Union Minister of State (IC), Ministry of Ayush Prataprao Jadhav

    Posted On: 01 MAY 2025 8:16PM by PIB Mumbai

    Reaffirming its commitment and highlighting the strides taken by various States and Union Territories in the Ayush sector, the National Ayush Mission (NAM) Conclave 2025 commenced today at Kaivalyadhama, Lonavala (Maharashtra). The event sets the stage for a future roadmap to consolidate and expand the outreach of Ayush services across the nation.

    Shri Prataprao Jadhav, Union Minister of State (Independent Charge) for Ayush and Union Minister of State, Ministry of Health & Family Welfare inaugurated the two-day conclave, along with Ayush/Health Ministers and senior officials from various State and UT governments including Dr. Prem Chand Bairwa, Deputy Chief Minister and Minister-in-charge of Ayush, Government of Rajasthan; Shri Y. Satya Kumar Yadav, Minister of Health, Family Welfare, and Medical Education, Government of Andhra Pradesh; Dr. Dayashankar Mishra ‘Dayalu’, Minister of State (Independent Charge) for Ayush, Food Safety, and Drug Administration, Government of Uttar Pradesh; Shri Shyam Bihari Jaiswal, Minister of Health and Family Welfare and Medical Education, Government of Chhattisgarh; Shri Yadvinder Goma, Minister of Ayush, Youth Services & Sports, and Law, Government of Himachal Pradesh;  Shri G.T. Dhungel, Minister of Health & Family Welfare and Culture, Government of Sikkim; and Smt. Pi Lalrinpuii, Minister of Health & Family Welfare, Government of Mizoram.

    Organised by the Ministry of Ayush, Government of India, the conclave has brought together Ayush experts, policymakers, health professionals, researchers, and innovators. It aims to strengthen the integration of traditional Indian systems of medicine into mainstream healthcare—making wellness more accessible, affordable, and evidence-based for the common citizen.

    Setting the tone of the conclave, the Union Ayush Minister said, “It is noteworthy that the Ministry had organised a NAM Conclave in 2023, where Hon’ble Ministers and senior officials from various States and UTs shared valuable insights for the effective implementation of the NAM scheme. That dialogue resulted in the formulation of an action plan to improve the execution and outcomes of the National Ayush Mission. The initiative of establishment of 12,500 Ayushman Arogya Mandir (Ayush) has significantly enhanced healthcare availability, with the number of beneficiaries rising from 1.5 crore in 2021 to more than 11.5 crore in 2025. As a result, there has been a remarkable improvement in the accessibility of Ayush healthcare services, driven by improved infrastructure, availability of medicines, trained manpower, and strengthened educational institutions.”

    Encouraged by the previous success, the Union Minister added, “I am confident that this second edition of the National Ayush Mission Conclave will serve as a robust platform for both States/UTs and the Central Government to jointly review the Mission’s progress, strengthen governance systems, promote innovation, streamline financial processes, and ensure rapid and effective implementation of programmes at the grassroots level. On this occasion, I extend my heartfelt best wishes for the success of the Conclave to the teams working tirelessly at both the State/UT and Central levels. I also express my sincere gratitude to the dedicated and committed team of Kaivalyadhama for their tireless efforts.”

    Delivering the welcome address, Vaidya Rajesh Kotecha, Secretary, Union Ministry of Ayush, emphasized the growing significance of the Ayush sector through NAM, and stated, “Since its inception in 2014 with an initial budget of ₹78 crore, the National Ayush Mission has witnessed a remarkable increase in allocation, reaching ₹1275 crore in 2025–26—reflecting the immense success of the scheme and the unwavering commitment of the Government of India towards strengthening Ayush healthcare across the country. Ayush systems are gaining prominence due to their holistic approach, personalized care, and increasing global interest, backed by strong government support. According to NSSO (2022–23), nearly 95% of rural and 96% of urban Indians are aware of Ayush, with millions regularly practicing Yoga—signifying growing trust and nationwide acceptance”, the Secretary further added.

    Dr. Dayashankar Mishra, Minister of Ayush, Uttar Pradesh, lauded the efforts of the Union Government to boost the integrative healthcare infrastructure of the state through progressive schemes such as the National Ayush Mission. The Minister also mentioned, “Uttar Pradesh, the most populous state in the world, has made remarkable progress in the Ayush sector. Currently, the state has 3,959 operational Ayush hospitals, offering facilities with capacities of 4 beds, 15 beds, 25 beds, and 30 beds.”

    Shri Shyam Bihari Jaiswal, Minister of Health & Family Welfare, Chhattisgarh mentioned, “Integrated Medicine offers a meaningful solution by combining Ayush and modern medical systems, providing dual benefits to patients.”

    Shri Prem Chand Bairwa, Deputy Chief Minister, Rajasthan, mentioned, “Through the joint efforts of Hon’ble Union Ayush Minister Shri Prataprao Jadhav, Ayush Secretary, Vaidya Rajesh Kotecha, and the State Government, Ayurveda is being brought to the grassroots level. The two-day Conclave is expected to be a milestone in the development of Ayurveda. The State Government is preparing a comprehensive Ayush policy aimed at the integrated growth of all Ayush systems.

    Shri Yadvinder Goma, Minister of Ayush, Himachal Pradesh highlighted how with the support through National Ayush Mission the healthcare infrastructure continues to grow. He also stated, “Himachal Pradesh has developed an integrated model in the Ayush sector, combining traditional knowledge with modern technology, ensuring outreach to rural areas, focusing on women’s health, and enhancing transparency through digital solutions. This progress is a meaningful step towards realising Prime Minister Shri Narendra Modi’s vision of ‘Ayushman Bharat’.

    Smt. Pi Lalrinpuii, Minister of Health & Family Welfare, Government of Mizoram, stated  “I am pleased to note that since the establishment of our Ayush Wellness Centers, various Ayush systems have gained considerable popularity in just a few years. This progress is largely due to the unwavering support we receive from the Ministry and the relentless efforts of our dedicated teams at state and central level.”

    Shri G.T. Dhungel, Minister of Health & Family Welfare, Sikkim, appreciated the assistance of the Union Government through the National Ayush Mission and said, “The Government of Sikkim has been constantly working to ensure delivery of healthcare in all areas of the state and the NAM scheme has helped developing the integrative healthcare infrastructure in the state to greatly complement these efforts.”

    Speaking on the themes of the Conclave, Ms. Kavita Garg, Joint Secretary, Ministry of Ayush, shared key milestones: “Additionally, 5.6 crore beneficiaries have availed services at Ayush tertiary care institutions. NABH entry-level certification for 1,372 Ayush Health and Wellness Centres, and the establishment of 189 Integrated Ayush Hospitals reflect our commitment to quality and accessibility. ”

    A key highlight of the inaugural session was the release of the Standard Treatment Guidelines (STGs) on Metabolic Disorders in Ayush Systems of Medicine by the Hon’ble Union Minister and other dignitaries. Developed by the Ayush Vertical in collaboration with various Research Councils, these guidelines cover five major metabolic disorders—Diabetes Mellitus, Obesity, Gout, Non-Alcoholic Fatty Liver Disease (NAFLD), and Dyslipidemia. Vetted by Allopathic experts, the STGs integrate Yoga, disease-specific dietary protocols, and standardized clinical procedures to serve as a comprehensive reference for practitioners, educators, and primary healthcare providers across the country.

    The inaugural session was followed by a roundtable discussion among the participating Ayush/Health ministers from various states/UTs focused on the way forward for strengthening Ayush services in the country through NAM activities in their respective states. The session was chaired by Shri Prataprao Jadhav, Hon’ble Union Minister of State (Independent Charge), Ministry of Ayush wherein the ministers and concerned officials from states and UTs exchanged their experiential wisdom while pointing out respective future strategies to address the challenges and negotiate the opportunities.

    During the program a special Y-Break session was also organised with enthusiastic participation from all led by Honourable Ministers and senior officials.

     

    About the National Ayush Mission (NAM):

    The flagship program National Ayush Mission launched in 2014 and it has played a crucial role in preserving and promoting India’s traditional systems of medicine and their integration into the mainstream healthcare system. It aims to enhance the availability, accessibility, and quality of Ayush healthcare services across the country through Ayushman Arogya Mandir (Ayush) as part of Government of India’s Ayushman Bharat scheme.

    In the last edition of NAM Conclave held in 2023, several key resolutions were adopted, including expansion of Ayush Health and Wellness Centres (now AAM-Ayush), integration of Ayush services with National Health Programs, and capacity building of Ayush practitioners. The 2025 edition aims to build upon these achievements, with renewed focus on innovation, standardisation, and international outreach.

     

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  • MIL-OSI Asia-Pac: India Advocates Global Action on Chemicals and Waste at BRS COPs 2025

    Source: Government of India

    India Advocates Global Action on Chemicals and Waste at BRS COPs 2025

    Union Minister for Environment Forest & Climate Change Shri Bhupender Yadav leads Indian Delegation at high-level Segment in Geneva

    Shri Yadav emphasizes India’s Regulatory Framework and Global Leadership on Plastic Pollution

    Posted On: 01 MAY 2025 8:27PM by PIB Delhi

    An Inter-Ministerial delegation from India, led by the Union Minister of Environment, Forest and Climate Change, Shri Bhupender Yadav, is participating in the Conference of the Parties (COPs) to the Basel, Rotterdam and Stockholm (BRS) Conventions, taking place in Geneva from 30th April to 1st May, 2025. The theme of this year’s high-level segment is “Make visible the invisible: Sound management of chemicals and wastes.”

    During his address in opening ceremony, Shri Bhupender Yadav emphasized that the theme reflects the global imperative of addressing the often-unseen threats of chemical and waste mismanagement. He reiterated India’s commitment to environmentally sound policies, underpinned by a robust legal and institutional framework.

    Key Interventions and Bilateral Engagements

    At the ministerial roundtable on ‘Means of Implementation’, Shri Yadav highlighted that the effective execution of the BRS Conventions relies significantly on access to finance, technology transfer, capacity-building, technical assistance, and strengthened international cooperation. He outlined India’s integrated approach to implementing the conventions through national legislation such as the Environment (Protection) Act, the Hazardous and Other Wastes (Management and Transboundary Movement) Rules, and the E-Waste Management Rules, 2016, which are supported by sustained investments in institutional and technical infrastructure.

    On the sidelines of the COPs, the Union Minister Shri Yadav participated in a consultation meeting organized by Norway on the work of the Intergovernmental Negotiating Committee (INC) on Plastic Pollution. He apprised participants of India’s domestic initiatives such as the ban on identified single-use plastic items and the implementation of Extended Producer Responsibility (EPR) for plastic packaging.

    Shri Yadav further underlined India’s pioneering role in international environmental governance under the leadership of Prime Minister Shri Narendra Modi, highlighting that India introduced a resolution on single use plastics at UNEA-4, bringing the issue to the center of global discourse.

    During the bilateral meeting with Ms. Katrin Schneeberger, Director of the Federal Office for the Environment, Switzerland, Shri Yadav discussed matters related to the development of a legally binding international instrument on plastic pollution, and India’s support for the establishment of a Science-Policy Panel on Chemicals and Waste, as mandated by UNEA resolutions.

    Forward-Looking Engagement

    The High-Level Segment of the BRS COPs features ministerial roundtables and interactive dialogues focused on collaborative global action.

    India remains steadfast in its commitment to multilateral environmental cooperation and will continue to advocate for the interests of developing countries while ensuring equitable, science-based, and sustainable solutions for the planet.

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    GS

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  • MIL-OSI Asia-Pac: Day One of National Ayush Mission Conclave Witnesses Dynamic Participation from State & UT Ayush/Health Ministers, Paving Way for Strengthened Ayush Collaboration

    Source: Government of India

    Day One of National Ayush Mission Conclave Witnesses Dynamic Participation from State & UT Ayush/Health Ministers, Paving Way for Strengthened Ayush Collaboration

    Our Goal is ‘Illness to Wellness’ leading to Happiness: Union Minister of State (IC), Ministry of Ayush Prataprao Jadhav

    11.56 crore benefit from Ayushman Arogya Mandir (Ayush) in 2024: Union Ayush Minister

    Posted On: 01 MAY 2025 8:24PM by PIB Delhi

    Reaffirming its commitment and highlighting the strides taken by various States and Union Territories in the Ayush sector, the National Ayush Mission (NAM) Conclave 2025 commenced today at Kaivalyadhama, Lonavala (Maharashtra). The event sets the stage for a future roadmap to consolidate and expand the outreach of Ayush services across the nation.

    Shri Prataprao Jadhav, Union Minister of State (Independent Charge) for Ayush and Union Minister of State, Ministry of Health & Family Welfare inaugurated the two-day conclave, along with Ayush/Health Ministers and senior officials from various State and UT governments including Dr. Prem Chand Bairwa, Deputy Chief Minister and Minister-in-charge of Ayush, Government of Rajasthan; Shri Y. Satya Kumar Yadav, Minister of Health, Family Welfare, and Medical Education, Government of Andhra Pradesh; Dr. Dayashankar Mishra ‘Dayalu’, Minister of State (Independent Charge) for Ayush, Food Safety, and Drug Administration, Government of Uttar Pradesh; Shri Shyam Bihari Jaiswal, Minister of Health and Family Welfare and Medical Education, Government of Chhattisgarh; Shri Yadvinder Goma, Minister of Ayush, Youth Services & Sports, and Law, Government of Himachal Pradesh;  Shri G.T. Dhungel, Minister of Health & Family Welfare and Culture, Government of Sikkim; and Smt. Pi Lalrinpuii, Minister of Health & Family Welfare, Government of Mizoram.

    Organised by the Ministry of Ayush, Government of India, the conclave has brought together Ayush experts, policymakers, health professionals, researchers, and innovators. It aims to strengthen the integration of traditional Indian systems of medicine into mainstream healthcare—making wellness more accessible, affordable, and evidence-based for the common citizen.

    Setting the tone of the conclave, the Union Ayush Minister said, “It is noteworthy that the Ministry had organised a NAM Conclave in 2023, where the Ministers and senior officials from various States and UTs shared valuable insights for the effective implementation of the NAM scheme. That dialogue resulted in the formulation of an action plan to improve the execution and outcomes of the National Ayush Mission. The initiative of establishment of 12,500 Ayushman Arogya Mandir (Ayush) has significantly enhanced healthcare availability, with the number of beneficiaries rising from 1.5 crore in 2021 to more than 11.5 crore in 2025. As a result, there has been a remarkable improvement in the accessibility of Ayush healthcare services, driven by improved infrastructure, availability of medicines, trained manpower, and strengthened educational institutions.”

    Encouraged by the previous success, the Union Minister added, “I am confident that this second edition of the National Ayush Mission Conclave will serve as a robust platform for both States/UTs and the Central Government to jointly review the Mission’s progress, strengthen governance systems, promote innovation, streamline financial processes, and ensure rapid and effective implementation of programmes at the grassroots level. On this occasion, I extend my heartfelt best wishes for the success of the Conclave to the teams working tirelessly at both the State/UT and Central levels. I also express my sincere gratitude to the dedicated and committed team of Kaivalyadhama for their tireless efforts.”

    Delivering the welcome address, Vaidya Rajesh Kotecha, Secretary, Union Ministry of Ayush, emphasized the growing significance of the Ayush sector through NAM, and stated, “Since its inception in 2014 with an initial budget of ₹78 crore, the National Ayush Mission has witnessed a remarkable increase in allocation, reaching ₹1275 crore in 2025–26—reflecting the immense success of the scheme and the unwavering commitment of the Government of India towards strengthening Ayush healthcare across the country. Ayush systems are gaining prominence due to their holistic approach, personalized care, and increasing global interest, backed by strong government support. According to NSSO (2022–23), nearly 95% of rural and 96% of urban Indians are aware of Ayush, with millions regularly practicing Yoga—signifying growing trust and nationwide acceptance”, the Secretary further added.

    Dr. Dayashankar Mishra, Minister of Ayush, Uttar Pradesh, lauded the efforts of the Union Government to boost the integrative healthcare infrastructure of the state through progressive schemes such as the National Ayush Mission. The Minister also mentioned, “Uttar Pradesh, the most populous state in the world, has made remarkable progress in the Ayush sector. Currently, the state has 3,959 operational Ayush hospitals, offering facilities with capacities of 4 beds, 15 beds, 25 beds, and 30 beds.”

    Shri Shyam Bihari Jaiswal, Minister of Health & Family Welfare, Chhattisgarh mentioned, “Integrated Medicine offers a meaningful solution by combining Ayush and modern medical systems, providing dual benefits to patients.”

    Shri Prem Chand Bairwa, Deputy Chief Minister, Rajasthan, mentioned, “Through the joint efforts of Hon’ble Union Ayush Minister Shri Prataprao Jadhav, Ayush Secretary, Vaidya Rajesh Kotecha, and the State Government, Ayurveda is being brought to the grassroots level. The two-day Conclave is expected to be a milestone in the development of Ayurveda. The State Government is preparing a comprehensive Ayush policy aimed at the integrated growth of all Ayush systems.

    Shri Yadvinder Goma, Minister of Ayush, Himachal Pradesh highlighted how with the support through National Ayush Mission the healthcare infrastructure continues to grow. He also stated, “Himachal Pradesh has developed an integrated model in the Ayush sector, combining traditional knowledge with modern technology, ensuring outreach to rural areas, focusing on women’s health, and enhancing transparency through digital solutions. This progress is a meaningful step towards realising Prime Minister Shri Narendra Modi’s vision of ‘Ayushman Bharat’.

    Smt. Pi Lalrinpuii, Minister of Health & Family Welfare, Government of Mizoram, stated  “I am pleased to note that since the establishment of our Ayush Wellness Centers, various Ayush systems have gained considerable popularity in just a few years. This progress is largely due to the unwavering support we receive from the Ministry and the relentless efforts of our dedicated teams at state and central level.”

    Shri G.T. Dhungel, Minister of Health & Family Welfare, Sikkim, appreciated the assistance of the Union Government through the National Ayush Mission and said, “The Government of Sikkim has been constantly working to ensure delivery of healthcare in all areas of the state and the NAM scheme has helped developing the integrative healthcare infrastructure in the state to greatly complement these efforts.”

    Speaking on the themes of the Conclave, Ms. Kavita Garg, Joint Secretary, Ministry of Ayush, shared key milestones: “Additionally, 5.6 crore beneficiaries have availed services at Ayush tertiary care institutions. NABH entry-level certification for 1,372 Ayush Health and Wellness Centres, and the establishment of 189 Integrated Ayush Hospitals reflect our commitment to quality and accessibility. ”

    A key highlight of the inaugural session was the release of the Standard Treatment Guidelines (STGs) on Metabolic Disorders in Ayush Systems of Medicine by the Hon’ble Union Minister and other dignitaries. Developed by the Ayush Vertical in collaboration with various Research Councils, these guidelines cover five major metabolic disorders—Diabetes Mellitus, Obesity, Gout, Non-Alcoholic Fatty Liver Disease (NAFLD), and Dyslipidemia. Vetted by Allopathic experts, the STGs integrate Yoga, disease-specific dietary protocols, and standardized clinical procedures to serve as a comprehensive reference for practitioners, educators, and primary healthcare providers across the country.

    The inaugural session was followed by a roundtable discussion among the participating Ayush/Health ministers from various states/UTs focused on the way forward for strengthening Ayush services in the country through NAM activities in their respective states. The session was chaired by Shri Prataprao Jadhav, Hon’ble Union Minister of State (Independent Charge), Ministry of Ayush wherein the ministers and concerned officials from states and UTs exchanged their experiential wisdom while pointing out respective future strategies to address the challenges and negotiate the opportunities.

    During the program a special Y-Break session was also organised with enthusiastic participation from all led by Honourable Ministers and senior officials.

     

    About the National Ayush Mission (NAM):

    The flagship program National Ayush Mission launched in 2014 and it has played a crucial role in preserving and promoting India’s traditional systems of medicine and their integration into the mainstream healthcare system. It aims to enhance the availability, accessibility, and quality of Ayush healthcare services across the country through Ayushman Arogya Mandir (Ayush) as part of Government of India’s Ayushman Bharat scheme.

    In the last edition of NAM Conclave held in 2023, several key resolutions were adopted, including expansion of Ayush Health and Wellness Centres (now AAM-Ayush), integration of Ayush services with National Health Programs, and capacity building of Ayush practitioners. The 2025 edition aims to build upon these achievements, with renewed focus on innovation, standardisation, and international outreach.

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    MV/AKS

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  • MIL-OSI Asia-Pac: India Post Payments Bank Reiterates its Commitment to the Labour Force of India, this Labour Day

    Source: Government of India

    Posted On: 01 MAY 2025 8:22PM by PIB Delhi

    • IPPB introduced Antyodaya Shramik Suraksha Yojana in 2023, an affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers.

    On the occasion of Labour Day, India Post Payments Bank reiterates its commitment to the welfare of Shramiks or labourers. IPPB launched the Antyodaya Shramik Suraksha Yojana (ASSY) for unorganised sector workers, a visionary and affordable insurance scheme aimed at providing comprehensive coverage and protection to the unorganized sector workers. The scheme was launched by the Hon’ble Chief Minister of Gujarat on 8th July 2023 at Kheda, Gujarat.

    Since the inception of ASSY, a total of 6,97,531 policies have been issued to labourers or Shramiks. A total of 355 claims have been settled and claim amount of Rs. 5,41,17,754 has been disbursed. The scheme is being offered through IPPB & issued by its six insurance partners including New India Assurance, Bajaj Allianz general Insurance, TATA AIG General Insurance, Niva Bupa Health Insurance, Aditya Birla Health Insurance and Start Health.

    Sharing his thoughts on Labour Day, Mr. R. Viswesvaran, MD & CEO, India Post Payments Bank said “We are committed to the welfare and upliftment of labourers. For this reason, we had implemented the Antyodaya Shramik Suranksha Yojana for the labourers which has helped lakhs of Shramiks improve their quality of life and well-being”.

    With such initiatives IPPB strives to bring life changing experience and access to digital banking at the doorstep of every household of India. IPPB has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    About India Post Payments Bank

    India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

    IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.

    IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important, every transaction is significant and every deposit is valuable.

     Reach us at:  www.ippbonline.com  marketing@ippbonline.in

    Social Media Handles:

    Twitter – https://twitter.com/IPPBOnline

    Instagram – https://www.instagram.com/ippbonline

    LinkedIn – https://www.linkedin.com/company/india–post–paymentsbank

    Facebook – https://www.facebook.com/ippbonline

    YouTube- https://www.youtube.com/@IndiaPostPaymentsBank

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  • MIL-OSI Asia-Pac: WAVES 2025 highlights India’s Evolving Broadcast Regulatory Landscape and its Future Challenges

    Source: Government of India

    Posted On: 01 MAY 2025 8:14PM by PIB Mumbai

    Mumbai, 1 May 2025

     

    The media and entertainment (M&E) sector’s evolving landscape and the need for a balanced regulatory framework took prominence at the breakout sessions held as part of the global summit WAVES 2025 which was kickstarted in Mumbai today.

    The breakout session on Regulating Broadcast in the Digital Age – Key Frameworks & Challenges featured prominent voices from international and Indian media regulatory bodies. Panelists included Shri Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TRAI). Ms. Philomena Gnanapragasam, Director, Asia-Pacific Institute for Broadcasting Development (AIBD); Mr. Ahmed Nadeem, Secretary General, Asia-Pacific Broadcasting Union (ABU) and Ms. Carolina Lorenzo, Director, International Affairs, Mediaset.

    Shri Lahoti outlined India’s regulatory evolution from the Cable Television Networks (Regulation) Act of 1995 to the digitisation of cable TV and TRAI’s current focus on consumer choice and quality of service. He emphasised TRAI’s efforts in ensuring a level playing field and advocated for deregulation wherever consumer interests are not compromised.

    The Panelists discussed the rapid rise of Over-the-Top (OTT) platforms and the complexities they introduce. With India’s digital media market reaching USD 9.7 billion in 2024, the need for balanced regulation is paramount. Shri Lahoti underscored TRAI’s proposals for digital radio, simplified network architecture, and a national broadcasting policy.

    Ms. Gnanapragasam highlighted the importance of media literacy in tandem with regulation. Mr. Nadeem advocated for a phased approach to regulation to encourage innovation while ensuring accountability. Ms. Carolina Lorenzo, Director, International Affairs, Mediaset, pointed to Europe’s experience with platform accountability and put light upon the emerging challenges of network effects in software and hardware in technologies such as smart TVs.

    The session concluded with consensus on the need for cohesive regulation while protecting the interests of the consumer and reducing regulatory complexity.

     

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  • MIL-OSI Asia-Pac: AI Meets Creativity: Industry Leaders Outline India’s Role in the Future of Digital Expression at WAVES 2025

    Source: Government of India

    AI Meets Creativity: Industry Leaders Outline India’s Role in the Future of Digital Expression at WAVES 2025

    “AI isn’t here to replace jobs—it’s a means to an end.” — Richard Kerris, NVIDIA

    “Creativity has transformed every industry.” — Shantanu Narayen, Adobe

    Posted On: 01 MAY 2025 8:52PM by PIB Mumbai

    Mumbai, May 1, 2025

     

    WAVES 2025 witnessed a convergence of innovation, creativity, and cutting-edge technology with Artificial Intelligence at the heart of the discourse. Three sessions held on the inaugural day of the Summit in Mumbai today, led by global industry figures, mapped the dynamic intersection of AI with media, storytelling, and digital production—reaffirming India’s rising stature in this creative-technological evolution.

    “Creativity has transformed every industry.” — Shantanu Narayen, Adobe

    In the keynote address on “Design, Media and Creativity in the Age of AI”, Adobe Chairman and CEO Shantanu Narayen offered an expansive perspective on the evolving creative economy. Tracing the digital journey from the internet to mobile and now to artificial intelligence, Narayen pointed to India’s growing role in content creation, with over 500 million Indians consuming online content and a significant shift towards regional languages.

    He stressed that AI is not replacing creativity but amplifying it. “Generative AI is enabling Indian creators to transcend traditional mediums,” he said, noting how it supports diverse storytelling across imaging, video, and design. From cinema to real-time mobile storytelling, the creative potential is expanding.

    Highlighting India’s unique position in building AI-powered frameworks—from applications to data infrastructure—Narayen outlined a four-fold strategy: supercharge creativity and production, innovate business models, lead an AI-skilled workforce, and foster entrepreneurship. He concluded by thanking the Government of India and the Ministry of Information and Broadcasting for creating a visionary platform through WAVES.

    “AI isn’t here to replace jobs—it’s a means to an end.” — Richard Kerris, NVIDIA

    In a thought-provoking fireside chat titled “AI Beyond Work”, Richard Kerris, Vice President at NVIDIA, and Vishal Dhupar, Managing Director, NVIDIA India, explored how AI is redefining personal computing and creative productivity.

    Reflecting on the evolution of the PC era, Dhupar remarked, “PCs used to sleep after office hours. But humans don’t.” He explained how NVIDIA’s early vision—imagining PCs as creative companions—now resonates in a world powered by AI.

    Kerris provided a historical view, recalling the complexities of mastering 3D animation in the past. “Now, with generative AI, we can go from idea to creation much faster,” he said. Yet, he cautioned against losing touch with fundamentals: “Just because we all have a camera on our phone doesn’t make us all great photographers.”

    The speakers agreed that AI enhances human creativity rather than replacing it. “AI puts tools in your hands—but knowing the craft, the basics, that’s still essential,” Kerris stressed. Dhupar concluded: “Creative people live their work. AI doesn’t replace that—it enables it.”

    “Bringing Stories to Life with Gen AI” — Anish Mukherjee, NVIDIA

    The third session, a masterclass by Anish Mukherjee, Solutions Architect at NVIDIA, focused on the practical applications of generative AI in media. Titled “Bringing Stories to Life with Gen AI”, the session spotlighted NVIDIA’s platform approach, moving beyond hardware to transformative tools.

    Mukherjee demonstrated AI-powered solutions including converting static images to digital humans, multilingual voice-overs, and audio-based character animation. Using NVIDIA’s Fugato model, he showcased AI-generated music and realistic lip-syncing for dubbing. He also introduced Cosmos, a suite of foundational models for video generation and simulation-based training via the Omniverse platform.

    Explaining the convergence of large language models with AI animation and DLSS, he noted their role in creating immersive storytelling experiences, especially in game development. “AI-powered characters that respond intelligently to players are redefining narrative engagement,” he said.

    Mukherjee closed with a call to harness compute power, rich datasets, and algorithmic strength to unlock generative AI’s full potential. NVIDIA’s open-source ecosystem, including Nemostack, empowers creators to develop custom models, furthering innovation across industries.

    WAVES 2025: Setting the Stage for AI-Led Creative Transformation

    As discussions unfolded across the sessions, a unifying message emerged—AI is a tool for empowerment, not replacement. Whether in design, film, animation, or storytelling, the future belongs to those who understand the basics, harness new tools responsibly, and build systems rooted in ethics, creativity, and inclusion. WAVES 2025 thus stands as a testament to India’s pivotal role in the global creative and technological landscape.

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