Category: India

  • MIL-OSI Economics: Quarterly BSR-2: Deposits with Scheduled Commercial Banks – December 2024

    Source: Reserve Bank of India

    Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks1 – December 20242’ on its ‘Database on Indian Economy’ portal3 (https://data.rbi.org.in Homepage > Publications).

    Scheduled commercial banks (SCBs) {excluding regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern, size and interest rate range wise distribution of term deposits as well as number of employees in the quarterly ‘Basic Statistical Return’ (BSR) – 2 return. These data are released at disaggregated level (viz., population groups4, bank groups, states, districts and centres).

    Highlights:

    • Aggregate deposits increased by 11.0 per cent in December 2024 as compared with 11.7 per cent growth a quarter ago.

    • Term deposits rose by 14.3 per cent (y-o-y) as compared with 5.1 per cent growth in saving deposits in December 2024; as a result, the share of term deposits in total deposits rose to 62.1 per cent from 60.3 per cent a year ago.

    • The share of deposits bearing seven per cent or above interest rate in total term deposits increased to 70.8 per cent in December 2024 from 61.4 per cent a year ago.

    • With rise in return on term deposits, nearly 79.8 per cent of the incremental term deposits mobilized during April-December 2024 were held in the original maturity bucket of one to three years; on an outstanding basis, over two third of term deposits were in this maturity bucket and another 11 per cent had higher original maturity.

    • During April-December 2024, 56.1 per cent of the total term deposits were of size ‘Rs. one crore and above’.

    • Senior citizens owned 20.2 per cent of the total deposits in December 2024.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2228


    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on JM Financial Home Loans Limited

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated February 17, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on JM Financial Home Loans Limited (the company) for non-compliance with certain provisions of the ‘Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 52A of the National Housing Bank Act, 1987.

    The statutory inspection of the company was conducted by the National Housing Bank with reference to its financial position as on March 31, 2022 and March 31, 2023. Based on the supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the company was sustained, warranting imposition of monetary penalty:

    The company failed to disclose, the approach for gradation of risk and rationale for charging different rate of interest to different categories of borrowers, to its customers in the application forms and also did not communicate the same explicitly in the sanction letters.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2225

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on Asirvad Micro Finance Limited

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated February 20, 2025, imposed a monetary penalty of ₹6.20 lakh (Rupees Six Lakh Twenty Thousand only) on Asirvad Micro Finance Limited (the company) for non-compliance with certain provisions of the ‘Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022’, and ‘Appointment of Internal Ombudsman by Non-Banking Financial Companies’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.

    The statutory inspection of the company was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the company were sustained, warranting imposition of monetary penalty:

    1. The company failed to report the household income of certain borrowers to Credit Information Companies;

    2. The company failed to provide factsheets to certain gold loan customers; and

    3. The company failed to establish a system of auto-escalation of all complaints that were partly or wholly rejected by its internal grievance redress mechanism to the Internal Ombudsman for a final decision.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2226

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Executive Body Meeting of the South and West Asian Regional Branch of the International Council on Archives (SWARBICA) held at India International Centre

    Source: Government of India (2)

    Posted On: 21 FEB 2025 5:11PM by PIB Delhi

    The two-day Executive Body Meeting of the Heads of Archives of the South and West Asian Regional Branch of the International Council on Archives (SWARBICA) was inaugurated by Shri Gajendra Singh Shekhawat, Minister for Tourism and Culture, Government of India, on 20thFebruary 2025, at the India International Centre, Max Mueller Marg, New Delhi. The event was hosted by the National Archives of India.

    Representatives from the National Archives of Nepal, Bhutan, Bangladesh, and Sri Lanka attended both the inaugural and business sessions. The National Archives of Pakistan participated online, while the National Archives of Iran could not attend due to visa issues.

    The Chief Guest emphasized the shared cultural and religious heritage of SWARBICA member countries and underscored the importance of exchange programs, training in digital preservation, and archival conservation to strengthen collaboration. Shri Arun Singhal, Director General, National Archives of India, and Treasurer of SWARBICA, delivered a comprehensive presentation on the digitization of archival records undertaken by the National Archives of India. This SWARBICA meeting was convened after a gap of eight years, following the last meeting held in Colombo, Sri Lanka, in 2017.

    In addition to the Executive Body Meeting, the National Archives of India will host a seminar titled “Using AI for Digital Preservation in Archives” on 21st February 2025. The seminar will explore the role of AI in digital preservation, highlighting its significance and applications. Experts from India, Bangladesh, Nepal, Sri Lanka, and SAMHiTA (International Research Division, India International Centre, New Delhi) will participate as resource persons.

    The South and West Asian Regional Branch of the International Council on Archives (SWARBICA) is an international umbrella organization for archival institutions. It provides a platform for archivists across the region to collaborate, strengthen professional relations, and enhance archival preservation. The idea to establish SWARBICA was conceived in 1973 at an Executive Committee Meeting of the International Council on Archives in Brussels, Belgium. It was officially formed on 11th December 1976 in a ceremonial event at Vigyan Bhawan, New Delhi.

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    Sunil Kumar Tiwari

    pibculture[at]gmail[dot]com

    (Release ID: 2105300) Visitor Counter : 82

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India Japan partnership rooted in brotherhood, democracy,culture and economic cooperation: Union Commerce and Industry Minister Piyush Goyal

    Source: Government of India (2)

    India Japan partnership rooted in brotherhood, democracy,culture and economic cooperation: Union Commerce and Industry Minister Piyush Goyal

    The partnership reflects a unique fusion of Sushi and Spices, distinct yet complementary: Shri Goyal

    Posted On: 21 FEB 2025 5:07PM by PIB Delhi

    Union Minister of Commerce and Industry, Shri Piyush Goyal stated that India and Japan share a globally recognized strategic partnership rooted in brotherhood, democracy, culture, and economic cooperation. This was stated by the Minister at his keynote address at the India-Japan Economy and Investment Forum today.

    The Minister highlighted that the Seven Lucky Gods of Japan have origins in Indian tradition, underscoring the deep cultural ties between the two nations. He noted that the relationship between India and Japan reflected Sushi and spices, a fusion of distinct yet complementary elements, contributing to an extraordinary partnership. Japan has been a key ally in India’s economic growth, with Foreign Direct Investment (FDI) from Japan exceeding $43 billion between 2000 and 2024, making it India’s fifth-largest source of foreign investment, added the Minister.

    The Minister highlighted that the Comprehensive Economic Partnership Agreement (CEPA) signed in 2011 has significantly strengthened bilateral trade, with over 1,400 Japanese companies operating in India and 11 industrial townships across eight states hosting Japanese enterprises. He pointed out that major infrastructure projects such as the Mumbai-Ahmedabad High-Speed Rail and metro systems in Delhi, Ahmedabad, Bengaluru, and Chennai reflect Japan’s active participation in India’s development. He expressed optimism about the commencement of the Shinkansen bullet train service between Mumbai and Ahmedabad in the near future.

    The Minister stated that under the leadership of Prime Minister Shri Narendra Modi, the ‘Make in India’ initiative launched in 2014 has provided a significant boost to India’s manufacturing sector. He stated that India and Japan are collaborating to build globally competitive brands, citing the example of Maruti exporting vehicles to various countries, including Japan. He reiterated the objective of increasing the share of manufacturing in India’s GDP to 25%, with Japan playing a crucial role in achieving this target.The Minister cited the Prime Minister, emphasizing that trade, technology, tourism, and investment will remain key pillars of India’s international economic strategy, with the partnership with Japan playing a crucial role in strengthening economic ties.

    He also noted India’s commitment to fostering a business-friendly environment, emphasizing that ease of doing business improvements are being implemented at both central and state levels. Infrastructure development, public-private partnerships in innovation, and a strengthened R&D ecosystem, supported by recent budget announcements, reflect the government’s strategic focus on economic growth. He underscored that India has the world’s largest number of STEM graduates, with women accounting for 43% of them, contributing to the country’s skilled workforce.

    The Minister pointed out five key drivers of India’s economic growth—decisive leadership, demographic dividend, democracy, diversity, and demand generated by 1.4 billion people—stating that these factors collectively shape India’s growing economy. He reiterated that large-scale investments will coexist in India with MSMEs to provide global solutions.

    Quoting Prime Minister Narendra Modi “ Today’s India inspires confidence in the world”, Shri Goyal added that  with a young and skilled workforce India today is a destination to invest and a destination to source goods and services.

    On quality standards, the Minister stated that Japan serves as a benchmark for excellence and that India seeks to adopt similar high standards in manufacturing. He noted that Indian manufacturers are being encouraged to embrace ‘Kaizen’ (continuous improvement) and Lean Six Sigma principles to enhance quality and efficiency. He further stated that efforts are being made to balance trade between India and Japan, with a focus on increasing Indian exports to ensure reciprocal benefits.The Minister invited participation in India’s growth story, particularly in green energy, renewable energy, high-tech manufacturing of semiconductors, electronic goods, and artificial intelligence. He emphasized that digital technologies will drive progress towards prosperity, reinforcing India’s commitment to innovation and sustainable development.

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    Abhishek Dayal/ Abhijith Narayanan

    (Release ID: 2105293) Visitor Counter : 120

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India’s intervention in Employment Working Group (EWG) in First G20 Employment Working Group Meeting under South African Presidency

    Source: Government of India (2)

    India’s intervention in Employment Working Group (EWG) in First G20 Employment Working Group Meeting under South African Presidency
    Secretary (L&E) outlines India’s achievement in leveraging technology and presented case studies on NCS and e-Shram portal as global best practices

    Bilateral held with ILO & OECD to expedite the feasibility study on International reference Classification of Occupations and Skills

    Bilateral held with Germany on collaboration in the field of AI and its impact on Jobs, OSH related knowledge exchange and strengthening labour administration under Joint Declaration of Intent

    Bilateral held with Netherlands on living wages and its alignment with India’s Multidimensional Poverty index

    Posted On: 21 FEB 2025 4:22PM by PIB Delhi

    The first G20 Employment Working Group (EWG) Meeting under South African Presidency concluded today on 21st Feb, 2025 at Port Elizabeth, South Africa. The EWG priorities (i) Inclusive Growth & Youth Empowerment and (ii) Social Security & Digitalisation for an Inclusive Future of Work, as was discussed in the working sessions of EWG meeting.

    During the four-days, delegates of G20 Members and invited states made interventions and presentations on key focus areas of the G20 Labour & Employment track.  Ms. Sumita Dawra, Secretary (Labour & Employment) led the Indian delegation and made interventions from Indian side on both the priorities. Secretary took an evidence-based approach on increased social security coverage in India, rising workforce in employment, as well as presented case studies on NCS and eShram to emphasize harnessing of technology by India for labour welfare.

    Secretary Labour highlighted India’s transformative use of technology to (i) onboard workers in unorganised sector and build a national database on EShram, and further utilise the portal for building access of workers to various social security schemes; (ii) Use of National Career Service (NCS) Portal to bridge the supply-demand in labour market through convergence of various stakeholders- employers, job-seekers, counselling and skilling services, etc. Case studies were presented on both EShram and NCS, both of which drew much interest of delegates of G20 member states on India’s strides in harnessing technology for the labour market.

    Case Study 1: eShram Portal

    India presented the eShram Portal as a case study, showcasing its role as a comprehensive national database for unorganized and platform workers, for ensuring seamless access to social security benefits as a ‘one-stop-solution.’ Available in 22 languages and powered by Bhashini, the portal assigns a Universal Account Number (UAN) to each worker, enhancing transparency and accountability. Further, the platform workers’ module, launched on December 12, 2024, enables aggregators to onboard workers and share engagement details, facilitating intelligent mapping to their employers. This initiative strengthens last-mile delivery of social security benefits, empowering millions in the informal sector and exemplifying India’s commitment to leveraging technology for inclusive welfare.

    Case Study 2: National Career Service (NCS) Portal

    India’s effort on leveraging technology to bridge the Jobs-Skills gap was presented through case study on NCS Portal. The Portal had mobilized over 440 million vacancies and registered 4 million employers, bridging the gap between job seekers and employers. NCS is also integrated with the Skill India Digital Hub (SIDH). Upskilling initiatives in green jobs, AI, and the platform economy were prioritized to meet future workforce demands. The QS World Future Skills Index 2025 recognized India’s strength in ‘ready-to-recruit’ markets for digital, AI and green jobs.

    Bilateral with ILO, OECD

    Follow-up on India’s G20 2023 Presidency with respect to developing an international framework for mutual recognition of skills and qualifications has been prioritised by the delegation. Accordingly, on the side-lines of 1st G20 EWG meeting, India held bilateral discussions with ILO, OECD and Germany regarding skill gap mapping feasibility study, its work plan and time-lines.

    Secretary briefed on the latest updates regarding funding, status of agreement with ILO to complete the study, and collaboration with concerned stakeholders. It was agreed that feasibility study will focus on three key sectors: IT, Green Jobs, and Care-related roles.

    Given India’s demographic dividend, and the projection of India to increasingly meet incremental global workforce requirements over the next decade, this study assumes great significance for facilitation of international mobility of qualified Indians.

    Bilateral with Netherlands

    A bilateral discussion was held with the Netherlands, focusing on India’s Multidimensional Poverty Index (MPI) and its alignment with global efforts to address poverty through the concept of ‘Living Wages,’ thus improving living standards. Collaboration with the Netherlands and the ILO was highlighted as critical to advancing living wages, with proposals for exchange of best practices and technical discussion on estimation of living wages. India reiterated its dedication to collaborating with international partners to advance decent work, sustainable wage systems, and enhanced livelihoods for workers.

    Bilateral with Germany

    During bilateral discussion with Germany, the importance of the Joint Declaration of Intent (JDI) entered by India with Germany in the month of October 2024 was highlighted. The JDoI is important for enhancing cooperation in work in global supply chains, human-centric AI and its impact on Jobs, developing Gig economy, a global skills referencing framework, etc. India reaffirmed its commitment to deepening collaboration with Germany, fostering innovative projects and a shared vision for an inclusive and equitable future of work.

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    Himanshu Pathak

    (Release ID: 2105272) Visitor Counter : 148

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Gender participation in governance is fundamental to bring about equality and to cut into inequities: Vice President of India, Dr Jagdeep Dhankhar

    Source: Government of India

    Gender participation in governance is fundamental to bring about equality and to cut into inequities: Vice President of India, Dr Jagdeep Dhankhar

    India is trying to leverage its technology for empowering people, to mitigate the suffering and to cut corruption and to generate transparency and accountability: Vice President

    Vice President of India, Dr Jagdeep Dhankhar addressed the conference of African-Asian Rural Development Organization

    Posted On: 21 FEB 2025 4:47PM by PIB Delhi

    Addressing the delegates at the conference of African-Asian Rural Development Organization in New Delhi today the Vice President of India, Dr Jagdeep Dhankhar said that the gender participation in governance is fundamental to bring about equality and to cut into inequities. India perhaps the only country in the world that has constitutionally structured participation of women in governance. He said that in village and municipal one third seats has been reserved for women. Pertaining to women empowerment he said that his government has taken initiatives that women at all level right from the Panchayat to be empowered. He informed that lakhs of women are frequently being elected through the election process in Panchayat, Cooperative etc. level. They are heading challenges of governance at village Panchayat and district level. He said that elections have been fortified in the constitution it’s a legal framework of functioning of various democratic institution, where the participation of women has been given priority.

    Dr Jagdeep Dhankhar informed that in a country of 1.5 billion people, drastic change is seen in every field in last one decade, education, economy and other basic immunity providing sectors like internet, electricity, cocking gas, toilet etc. He said that massive transformative steps have been taken through two aspects by the government that has helped the country with enormously benefited people. Of them one is education and the second is empowering of the people, when it comes to internet uses per capita India is more than USA & China.

    He said that when it comes to formalization of economy or digital transfer, we account more than 50 percent of the global communities. In decade ago, our economy had only double digit in global bench mark and now we are fifth position in the world and on the way to becoming third economic power of the world in next two years. He said that our nation is set for target that India would be a developed nation by 2047; there was a time our nation has to deposit its gold with Banks in Switzerland to sustain our fiscal credibility by then the foreign exchange reserve was only 11 billion US dollar, if it can be compared to the present situation the volume has gone to 7 hundred billion US dollar. Dr Dhankhar said that India is an example for the rest of the world that what could be impacts of the good initiatives in the field of rural development; empowerment of people etc. This convergence is a significant mile stone that would take the nation to a new height. Vice President said that this conference of African-Asian Rural Development Organization would go a long way in defining the stability of the world, he said that if World’s stability is to be defined then growth of rural sector, agriculture and corporative sector etc.  are top most important. 

    He said that the world is facing challenges for its safe existence. Indicating climate change the Vice President Shri Dhankhar said that it’s a menace created only by us by reckless exploitation of natural resources of which we are not the owner.  He said that we thought that this planet is meant for only human being not for others but there are also other challenges that include hunger, poverty. In one hand we have exploited technology to its maximum extent and on the other hand we have problem like hunger & poverty. In such a situation India is trying to leverage its technology for empowering people, to mitigate the suffering and to cut the corruption and to generate transparency and accountability.

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    MG/NR

    (Release ID: 2105287) Visitor Counter : 51

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: 17.01 lakh new workers enrolled under ESI Scheme in the month of December, 2024

    Source: Government of India (2)

    17.01 lakh new workers enrolled under ESI Scheme in the month of December, 2024

    8.22 lakh young employees upto the age group of 25 years constitute new registrations

    3.46 lakh female employees enrolled in the ESI Scheme

    20,360 new establishments registered under ESI Scheme in the month of December, 2024

    73 transgender employees registered under ESI Scheme in December, 2024

    Posted On: 21 FEB 2025 4:12PM by PIB Delhi

    The provisional payroll data of ESIC reveals that 17.01 lakh new employees have been added in the month of December, 2024.

    20,360 new establishments have been brought under the social security ambit of the ESI Scheme in the month of December, 2024 thus ensuring social security to more workers.

    Through the data, it is noticeable that out of the total 17.01 lakh employees added during the month, 8.22 lakh employees amounting to around 48.35% of the total registrations belong to the age group of upto 25 years.

    Also, the gender-wise analysis of the payroll data indicates that the net enrolment of female members has been 3.46 lakh in December, 2024. Besides, a total of 73 transgender employees have also got registered under ESI Scheme in the month of December, 2024 which attests the commitment of ESIC to deliver its benefits to every section of the society.

    The payroll data is provisional since the data generation is a continuous exercise.

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    Himanshu Pathak

     

    (Release ID: 2105266) Visitor Counter : 81

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minster Shri Shivraj Singh Chouhan to visit the inaugural function of Pusa Krishi Vigyan Mela 2025 at ICAR-IARI in New Delhi tomorrow

    Source: Government of India (2)

    Union Minster Shri Shivraj Singh Chouhan to visit the inaugural function of Pusa Krishi Vigyan Mela 2025 at ICAR-IARI in New Delhi tomorrow

    The theme of the mela is Unnat Krishi – Viksit Bharat

    Posted On: 21 FEB 2025 3:53PM by PIB Delhi

    Union Minster of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan will visit the Pusa Krishi Vigyan Mela 2025 in New Delhi tomorrow. Shri Chouhan will be the Chief Guest of the inaugural function. Pusa Krishi Vigyan Mela (PKVM) 2025 of Indian Council of Agricultural Research -Indian Agricultural Research Institute (ICAR-IARI) is going to be held during February 22-24, 2025. The theme of the mela is Unnat Krishi – Viksit Bharat. Ministers of State for Agriculture and Farmers’ Welfare Shri Ramnath Thakur and Shri Bhagirath Choudhary will be the Chief Guest of the Valedictory Session on 24th February 2025. Secretary DARE and Director General, ICAR, Dr. Himanshu Pathak will preside over the inaugural and valedictory sessions.

    The main attractions of the PKVM this year will be:

    • Live demonstrations of the new varieties and technologies developed by IARI
    • Exhibitions on promising technologies, products and services of IARI as well as ICAR Institutes, Agricultural Universities, KVKs, FPOs, entrepreneurs, start-ups, public and private companies
    • Technical Sessions and Farmers-Scientists interactions on important issues like Climate Resilient Agriculture, Crop Diversification, Digital Agriculture; Entrepreneurship Development of Youth and Women; Agricultural Marketing, Farmers Organizations and Start-ups; and Farmers’ Innovation
    • Sale of Pusa Seeds of important varieties
    • On-Spot agro-advisories

    Realizing the growing significance of climatic risk and nutrition, the research program at IARI laid emphasis upon on developing climate-resilient crop varieties and bio-fortified cultivars with enhanced nutrient profile along with higher productivity. During 2024, a total of 27 crop cultivars in 10 different crops namely, 7 in bread wheat, 3 in rice, 8 maize hybrids, 1 pearl millet hybrid, 2 chickpea cultivars, 1 pigeon pea hybrid, 3 mung bean varieties, 1 lentil variety, 2 double zero mustard varieties and 1 soybean variety have been released. These include 16 varieties and 11 hybrids. IARI has been making stupendous contributions in Basmati rice production and trade through development of superior varieties. Basmati rice varieties including Pusa Basmati 1718, Pusa Basmati 1692, Pusa Basmati 1509 and the ones with resistance to both bacterial blight and blast diseases namely, PB 1847, PB 1885, and PB 1886 contribute to about 90% of the 5.2 million tons of Basmati rice exports earning of Rs. 48389 crores from India in 2023-2024. During April to November 2024, the export earnings from our Basmati rice stands at Rs 31,488 crores. Two short duration non-Basmati rice varieties namely, Pusa 1824 and Pusa 2090 have been released, which can help provide sufficient time for after-harvest operations. Pusa RH 60 is a high-yielding, short-duration, aromatic rice hybrid with long slender grains, best suited for Bihar and Uttar Pradesh. Pusa Narendra KN1 and Pusa CRD KN2 are improved Kalanamak varieties with better resistance and higher yield, recommended for Uttar Pradesh.

    Institute’s research program also laid focus upon nutritional security and developed eight biofortified cultivars. One bread wheat variety (HI 1665) and one durum wheat, HI 8840 was developed with high iron and zinc content, suitable for central zone. A multi-nutrient hybrid Pusa Biofortified maize Hybrid 5 has been developed, which is enriched with α-tocopherol (21.60 ppm) provitamin A (6.22 ppm), high lysine (4.93%) and tryptophan (1.01%). Pusa Biofortified Maize Hybrid-4 is biofortified with high provitamin A, lysine, and tryptophan. Pusa Popcorn Hybrid-1 and Hybrid-2 offer high popping percentage and butterfly-type popped flakes, ideal for NWPZ and PZ zones. Pusa HM4 Male Sterile Baby Corn-2 is a male sterile-based hybrid developed for NEPZ, PZ, and CWZ zones.

    Two double zero mustard varieties (Pusa Mustard 35 and Pusa Mustard 36) were released with low erucic acid and glucosinolates content; which  provide high yield under timely sown irrigated conditions in Zone-III (Madhya Pradesh, Uttar Pradesh, Uttarakhand, and Rajasthan). Pearl Millet Pusa 1801 (MH 2417) is a dual-purpose variety (grain and fodder) biofortified with high iron (70 ppm) and zinc (57 ppm) content. It is resistant to multiple diseases and is best suited for the NCT of Delhi. Chickpea var Pusa Chickpea Vijay 10217 is a high-yielding variety resistant to Fusarium wilt, recommended for irrigated conditions in Uttar Pradesh. Chickpea var Pusa 3057 has high seed protein content (24.3%) and is resistant to multiple diseases, including Fusarium wilt, collar rot, and dry root rot. It is also moderately resistant to pod borer and has large seeds with excellent grain color and shape. Pigeon pea var Pusa Arhar Hybrid-5 is a high-yielding variety (23.35 q/ha on average, with a potential of 25.46 q/ha) resistant to SMD, Phytophthora stem blight, Macrophomina blight, and Alternaria leaf spot, making it suitable for Delhi and NCT.

     

    Striving towards attainment of goals of crop diversification for economic as well as ecological benefits, Institute has standardized Integrated Farming System Models (IFS).  Integrated farming system model of 1.0 ha area for small farmers involving crops, dairy, fishery, duckery, biogas plant, fruit trees and agro-forestry developed by ICAR-IARI has potential to generate the net returns up to Rs. 3,79,000/ha/year with an employment generation of 628 man-days. Similarly, Integrated Farming System Model of 0.4 ha area for marginal farm holders integrating polyhouse culture, mushroom cultivation along with crop and horticulture enterprises has the potential to generate the net income of Rs. 1,75,650/acre/year. 

    Horticulture-based crop diversification has been popular among farmers. Cultivation of vegetables, fruits and flowers has been profitable, while fruits and vegetable cultivation is also useful in promotion of nutritional security.  To promote vegetable cultivation, IARI has developed 268 improved vegetable varieties in 48 vegetable crops comprising of 41 hybrids and 227 varieties. IARI has developed nutritionally superior varieties in carrot (Pusa Prateek, Pusa Rudhira, Pusa Asita), okra (Pusa Lal Bhindi-1), Indian bean (Pusa Lal Sem), broccoli (Pusa Purple Broccoli-1) & Vitamin C rich spinach variety (Pusa Vilayati Palak) to address the issue of malnutrition. Yellow vein mosaic virus (YVMV) resistant andEnation leaf curl virus ELCV tolerant okra varieties (Pusa Bhindi-5 and DOH-1) were released to minimize the application of pesticides use and reduction in cost of cultivation. Six varieties and one hybrid in brinjal, three varieties in onion, two varieties and one hybrid in cucumber, three varieties in Indian bean, three hybrids in bitter gourd, two varieties and one hybrid in musk melon were released for cultivation. Two soft-seeded guava varieties, Pusa Aarushi (red pulp) and Pusa Pratiksha (white pulp), have been developed along with a gynodioecious, semi-dwarf papaya variety, Pusa Peet. One marigold variety i.e. Pusa Bahar has been recommended for release. A mid-season gladiolus var. Pusa Sinduri has been released for West Bengal, Punjab, New Delhi and Rajasthan. The production of quality seeds has increased more than four times since 2018-19 (239.861 tons) to 975.478 tons in 2023-24. The nutritious food products developed by the Division of Biochemistry are Divine Dough which is pearl millet flour with richness of quality protein, resistant starch, fibre and micronutrients like Fe and Zn. Pearly Loaf is a gluten-free bread pre-mix made entirely from whole pearl millet, offering a nutritious alternative to wheat-based bread. With a low glycemic index (pGI 68-69%), it supports blood sugar management while being rich in fiber, essential minerals, and bioactive compounds.

    A rapid colorimetric test kit named ‘Speedy Seed viability kit’ has been developed by our institute to distinguish between viable and non-viable seeds within 1–4 hours, depending on the seed type. Pusa STFR Meter developed by ICAR-IARI is a low cost, user-friendly, digital instrument to analyses fourteen important soil parameters including secondary and micronutrients viz., soil pH, EC, organic carbon, available N (derived from organic carbon), P, K, S, B, Zn, Fe, Cu, Mn as well as lime and gypsum requirement. Pusa Decomposer developed by ICAR-IARI is an eco-friendly and economically viable effective microbial solution for in-situ and ex-situ residue management. It has also been developed into ready to use powder formulation, which is completely dissolvable in water and can be used easily with mechanical sprayers. 500g per acre is recommended for decomposition of paddy straw in the field. The farm Sun Fridge developed by ICAR-IARI is an off-grid, battery-less solar refrigerated and evaporative cooled (SREC) structure. The objective of the technology is to have a solar cold store on farm fields. The cold store is used for storage of perishables. “PUSA MeFly KIT” and “PUSA CueFly KIT” are ready-to-use kits to manage fruit fly menace in a wide range of fruit and cucurbit vegetables, respectively. Point of care diagnostic kit and Easy PCR detection kit have been developed for rapid detection of chilli leaf curl virus and mung bean yellow mosaic virus, respectively. Pusa Dhan Bakanae parikshan kit has been developed for identifying pathogens causing bakanae disease in seed as well as in soil.

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    Read this release in: Hindi

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  • MIL-OSI Asia-Pac: In its drive against facilities engaged in printing of Fake Indian Currency Notes (FICN), DRI busts seven more modules in Maharashtra (4), Haryana (1), Bihar (1) and Andhra Pradesh (1); nine arrested

    Source: Government of India

    Posted On: 21 FEB 2025 3:11PM by PIB Delhi

    Continuing the drive against modules involved in the import of security paper and printing Fake Indian Currency Notes (FICN), on 20th February 2025, DRI conducted simultaneous searches at 11 different places across Maharashtra, Haryana, Telangana, Tamil Nadu and Bihar yesterday and busted seven (7) additional modules involved in printing of FICN.

    Earlier on 8th Feb, 2025, the Directorate of Revenue Intelligence (DRI) had arrested two persons found to be the actual importers of high-quality paper with embedded security thread having inscriptions of RBI’ and Bharat (security paper) in Ghazipur District, Uttar Pradesh and Bengaluru, Karnataka and in the follow-up next day on 9th Feb, DRI had busted two facilities (Thane, Maharashtra & Bhiwani District Haryana) printing FICN using imported security papers, where three persons were arrested by jurisdictional police authorities based on complaint made by DRI.

    In the present case, in Vikhroli West, Mumbai, DRI identified and located the importer. After thorough search in a densely populated locality, a sophisticated facility for printing and finishing the Fake Indian Currency Notes was unearthed and fake currency of denomination of Rs. 50 & Rs. 100, several machinery/tools were seized. Seized items includes laptops, printers, pen drives, security paper, A-4 sized papers & butter paper with watermark of Mahatma Gandhi etc. On the basis of the complaint filed by DRI officers, the person was arrested and all the apparatus and tools were seized by the jurisdictional police authorities under Bhartiya Nyaya Sanhita (BNS) for further investigation.

    In Sangamner district and in Kolhapur district, the DRI unearthed similar set up with computers and printers, which were being used to print fake Indian Currency Notes. At both the places, on the basis of the complaint filed by DRI officers, the two accused were arrested and the contraband was seized by the jurisdictional police authorities under BNS for further investigation.

    The questioning of the accused in the Kolhapur module led to the busting of another module with printing set up in Belgaum, by Kolhapur police, who arrested three more persons in the case.

    In three other locations, (West Godavari district in Andhra Pradesh; Khagaria District in Bihar and Rohtak in Haryana) the importers of the security paper were traced. Incriminating evidence such as restricted security paper and printer at West Godavari; laptops, printer and restricted security paper at Khagaria district were also recovered. The three accused have been arrested by jurisdictional police based on complaint by DRI officials and the matter has been handed over for further investigation under BNS.

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  • MIL-OSI Asia-Pac: TRAI releases Recommendations on ‘Framework for Service Authorisations for provision of Broadcasting Services under the Telecommunications Act, 2023’

    Source: Government of India

    Posted On: 21 FEB 2025 3:28PM by PIB Delhi

    The Telecom Regulatory Authority of India (TRAI) has today released Recommendations on ‘Framework for Service Authorisations for provision of Broadcasting Services under the Telecommunications Act, 2023’.

    As per the extant guidelines for various broadcasting services, licenses/permissions/ registrations are issued by Ministry of Information and Broadcasting (MIB) under Section 4 of the Indian Telegraph Act, 1885 for provision of broadcasting services, like, television channel uplinking/downlinking (including Teleport), SNG/DSNG, DTH, HITS, IPTV, FM Radio, and Community Radio Stations (CRS).

    The Government has notified the Telecommunications Act, 2023 in the Gazette of India, which repeals the Indian Telegraph Act, 1885. However, the appointed date for various sections of the Telecommunications Act, 2023 is yet to be notified. Section 3(1)(a) of the Telecommunications Act, 2023 mandates authorisation for those intending to provide telecommunication services, subject to the terms and conditions, including fees or charges, as may be prescribed.

    MIB, vide its letter dated 25th July 2024, has sought recommendations of TRAI under Section 11(1)(a) of TRAI Act, 1997 on the terms and conditions, including fees or charges; for authorisation to provide broadcasting services, aligning it to the Telecommunications Act, 2023 and harmonizing the terms and conditions across various service providers.

    Accordingly, on 30th October 2024, the Authority initiated a consultation process by releasing a Consultation Paper titled ‘Framework for Service Authorisations for provision of Broadcasting Services under the Telecommunications Act, 2023‘ and sought stakeholder’s comments. In response, the comments and counter comments received from the stakeholders were uploaded on TRAI’s website. As part of the consultation process, Open House Discussion (OHD) was held on 18th December 2024.

    Based on the comments and counter-comments received from stakeholders as well as inputs gathered during OHD, examination of the existing provisions of various broadcasting policy guidelines, taking into account relevant earlier recommendations of TRAI that are under consideration of the Government, and its own analysis, TRAI has collated and restructured the terms and conditions into a simplified authorisation framework. The terms and conditions are aligned to the relevant provisions of the Telecommunications Act, 2023. Accordingly, TRAI has finalized its Recommendations on ‘Framework for Service Authorisations for provision of Broadcasting Services under the Telecommunications Act, 2023. The recommendations aim to promote growth and enhance ease of doing business in the sector.

    The recommended authorisation framework provides for two distinct sets of terms and conditions, the first set, for the applicant entity intending to obtain authorisation for broadcasting services; and the second set, to comply with by the authorised entity for service provisioning during the period of authorisation.

    These two sets of terms and conditions should be adopted while framing the Rules, namely, ‘The Broadcasting (Grant of Service Authorisations) Rules’ and ‘The Broadcasting (Television Channel Broadcasting, Television Channel Distribution, and Radio Broadcasting) Services Rules’.

    The recommended authorisations for broadcasting services include those for Television Channel Broadcasting (Satellite-based/Ground-based), News Agency for Television Channel(s), Teleport/Teleport Hub, Uplinking of Live event/news/footage by Foreign Channel/News Agency, Direct to Home (DTH) Service, Head End in the Sky (HITS) Service, Terrestrial Radio Service, Community Radio Stations and Low Power Small Range Radio Service.

    Salient points of the recommendations are given below:

      • Broadcasting service authorisations shall be granted under Section 3(1)(a) of the Telecommunications Act, 2023, in place of the extant practice of issuing license/permission under Section 4 of the Indian Telegraph Act, 1885. Terms and conditions for service authorisations shall be notified as Rules under Section 56 of the Telecommunications Act, 2023.
      • Grant of service authorisation under Section 3(1)(a) should be in the form of an authorisation document containing essential details pertaining to the service. The format of the authorisation document has been recommended.
      • The terms and conditions for ‘Grant of Service Authorisations’ have been harmonized for similar services and covers eligibility criteria, application process and other relevant details/information required by an applicant entity before applying for service authorisation.
      • Migration of existing licensee/permission holder to new authorisation regime shall be voluntary, till the expiry of their license/permission. Further, no processing fee or entry fee will be required for migration, in case of broadcasting services. However, the validity period of the respective service authorisation should be from the effective date of migration to the authorisation regime, irrespective of the validity period of existing license/permission.
      • Addition of new services, namely, ‘Ground-based Broadcasting of a Television Channel’ and ‘Low Power Small Range Radio Service’, based on earlier recommendations of the Authority.
      • The terms and conditions for service provisioning encompasses two parts, namely, ‘Common Terms and Conditions’ applicable to all broadcasting service authorisations in a harmonized manner and ‘Specific Terms and Conditions’ applicable to service specific authorisations.
      • To protect the interests of service providers, it has been recommended that amendments to terms and conditions of service authorisations (except for reasons of National Security) shall require TRAI’s recommendations.
      • Mandatory co-location should be removed for authorised entities of Radio Broadcasting Services.
      • Infrastructure sharing, on voluntary basis, among broadcasting service providers as well as with the telecom service providers/infrastructure providers, wherever technically and commercially feasible, has been recommended.
      • Authorised entities of ‘Television Channel Distribution Services’ shall endeavour to adopt interoperable STBs to enhance consumer choice and reduce electronic waste.
      • TEC to prepare and notify standards for interoperable STBs and television sets with inbuilt STB functionality.
      • The minimum net worth requirement of Rs. 100 crore for the Internet Service Providers to provide IPTV Service is recommended to be removed and the same should be aligned with the provisions contained in the authorisation for Internet Services to be issued by DoT.
      • Terms and conditions for Radio Broadcasting Service have been made technology agnostic enabling adoption of digital technology.
      • Service authorisation for ‘Terrestrial Radio Service’ to be delinked from frequency assignment and the auction of spectrum for frequency assignment for Terrestrial Radio Service shall be done separately.
      • In addition to broadcasting of radio channel(s), the authorised entities for Terrestrial Radio Service should be allowed streaming the same content through internet concurrently without any user control.
      • MIB should prescribe separate Programme Code and Advertisement Code for radio broadcasting service providers.
      • The terms and conditions including fees and charges for various broadcasting services, particularly in the ‘Television Channel Distribution Services’, have been harmonized with the provisions in the Telecommunications Act, 2023. Salient recommended terms and conditions are as under:

     

    Conditions

    Existing

    Recommended

    Authorisation Fees (erstwhile License Fee) for DTH services

    8% of AGR

    3% of AGR, to be reduced to ‘zero’. No authorisation fee after the end of FY 2026-27

    Authorisation Fees (erstwhile Annual Fee) for Radio Broadcasting Services

    • 4% of GR or 2.5% of NOTEF, whichever is higher;
    • 2% of GR or 1.25% of NOTEF for NE states, J&K and island territories during initial 3 years, thereafter as above
    • 4% of AGR for all the cities;
    • 2% of AGR for NE states, J&K and island territories during initial 3 years, thereafter as above

    Bank Guarantee for

    DTH Service

    Rs. 5 crore initial, thereafter License Fee of two quarters

    Rs. 5 crore or 20% of Authorisation Fee for two quarters, whichever is higher

    Bank Guarantee for

    HITS Service

    Rs. 40 crore for initial 3 years

    Rs. 5 crore for the validity of authorisation

    Processing Fees of

    HITS Service

    Rs. 1 Lac

    Rs. 10000

    Validity Period of

    HITS Service

    10 years initially, no provision for renewal

    20 years with renewal by 10 years at a time

    Renewal Period for Terrestrial Radio Service

    No provision for renewal in FM Radio

    Renewal by 10 years at a time

     

    In addition to harmonization of financial requirements, harmonization of common terms and conditions, roll out obligations for similar services (DTH and HITS), provisions enabling infrastructure sharing, provisions applicable in case of emergency/disaster, monitoring and inspection, contravention of rules, applicable Program Code and Advertisement Code for television broadcasting /distribution services and that for all Radio broadcasting services has been recommended.

    The Recommendations have been placed on the TRAI’s website (www.trai.gov.in). For any clarification/information Dr. Deepali Sharma, Advisor (Broadcasting and Cable Services), TRAI may be contacted at Telephone Number +91-11-20907774.

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  • MIL-OSI Asia-Pac: Gujarat Finance Minister presents Budget 2025-26 digitally via NeVA

    Source: Government of India

    Posted On: 21 FEB 2025 3:19PM by PIB Delhi

    The Finance Minister of Gujarat, Shri Kanu Desai, presented the Budget 2025-26 digitally via National eVidhan Application (NeVA) at the Assembly, marking a step towards paperless governance.

    National eVidhan Application is a transformative project under the Digital India initiative aiming to transform the governance landscape in India with a paperless and digital legislative process.

    ***

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  • MIL-OSI Asia-Pac: FIRST TRAINING SQUADRON OF INDIAN NAVY ARRIVED AT CAM RANH BAY, VIETNAM

    Source: Government of India (2)

    Posted On: 21 FEB 2025 3:17PM by PIB Delhi

    Building Bridges of friendship whilst training young minds, the ships of First Training Squadron – INS Tir and ICGS Veera arrived at Cam Ranh Bay, Vietnam on 20 Feb 25. The ships received a warm welcome by the Vietnam People’s Navy and members of Indian mission at Vietnam. The visit is poised to further strengthen the longstanding friendship and growing partnership between the two maritime nations.

    During the port call, various cross training visits, professional and community interactions including a visit to Vietnam Naval Academy are planned. The visit will conclude with bilateral exercises with Vietnam People’s Navy and Coast Guard. The exercise would further enhance the interoperability and exchange of Best Practices.

    India and Vietnam share comprehensive strategic partnership which was further strengthened during the recent visit of the PM of Vietnam to India in Aug 24. Furthering the ties, the visit by Training Squadron of the Indian Navy to Vietnam reinforces closer maritime cooperation and training exchange between the two Navies. The extant deployment is aligned with Government of India’s broader initiative to enhance capacity building and strengthen regional maritime security in line with the vision of Security And Growth for All in the Region (SAGAR).

    ****

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  • MIL-OSI Asia-Pac: In its crusade against facilities engaged in printing of Fake Indian Currency Notes (FICN), DRI busts seven more modules in Maharashtra (4), Haryana (1), Bihar (1) and Andhra Pradesh (1); nine arrested

    Source: Government of India (2)

    Posted On: 21 FEB 2025 3:11PM by PIB Delhi

    Earlier on 8th Feb, 2025, the Directorate of Revenue Intelligence (DRI) had arrested two persons found to be the actual importers of high-quality paper with embedded security thread having inscriptions of RBI’ and Bharat (security paper) in Ghazipur District, Uttar Pradesh and Bengaluru, Karnataka and in the follow-up next day on 9th Feb, DRI had busted two facilities (Thane, Maharashtra & Bhiwani District Haryana) printing FICN using imported security papers, where three persons were arrested by jurisdictional police authorities based on complaint made by DRI.

    Continuing the drive against modules involved in the import of security paper and printing Fake Indian Currency Notes (FICN), on 20th February 2025, DRI conducted simultaneous searches at 11 different places across Maharashtra, Haryana, Telangana, Tamil Nadu and Bihar yesterday and busted seven (7) additional modules involved in printing of FICN.

    In Vikhroli West, Mumbai, DRI sleuths identified and located the importer. After thorough search in a densely populated locality, a sophisticated facility for printing and finishing the Fake Indian Currency Notes was unearthed and fake currency of denomination of Rs. 50 & Rs. 100, several machinery/tools were seized. Seized items includes laptops, printers, pen drives, security paper, A-4 sized papers & butter paper with watermark of Mahatma Gandhi etc. On the basis of the complaint filed by DRI officers, the person was arrested and all the apparatus and tools were seized by the jurisdictional police authorities under Bhartiya Nyaya Sanhita (BNS) for further investigation.

    In Sangamner district and in Kolhapur district, the DRI unearthed similar set up with computers and printers, which were being used to print fake Indian Currency Notes. At both the places, on the basis of the complaint filed by DRI officers, the two accused were arrested and the contraband was seized by the jurisdictional police authorities under BNS for further investigation.

    The questioning of the accused in the Kolhapur module led to the busting of another module with printing set up in Belgaum, by Kolhapur police, who arrested three more persons in the case.

    In three other locations, (West Godavari district in Andhra Pradesh; Khagaria District in Bihar and Rohtak in Haryana) the importers of the security paper were traced. Incriminating evidence such as restricted security paper and printer at West Godavari; laptops, printer and restricted security paper at Khagaria district were also recovered. The three accused have been arrested by jurisdictional police based on complaint by DRI officials and the matter has been handed over for further investigation under BNS.

    ****

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  • MIL-OSI Asia-Pac: Biodiversity to Bioeconomy

    Source: Government of India (2)

    Biodiversity to Bioeconomy

    How Biotechnology is Transforming North East India

    Posted On: 21 FEB 2025 2:53PM by PIB Delhi

    Nestled in the lap of the Himalayas and blessed with lush biodiversity, India’s North East Region (NER) is a land of hidden treasures. Its vibrant landscapes, rich culture, and vast  pool of resources offer immense potential for innovation. Now, with the transformative power of biotechnology, the NER is not just preserving its natural heritage but also scripting a new chapter of growth and sustainability.

    Imagine a region where farmers cultivate medicinal plants that fuel both health industries and local incomes, where young researchers develop resilient crop varieties that withstand changing climates, and where bio-entrepreneurs thrive by transforming indigenous knowledge into global products. This vision is steadily turning into reality, thanks to the Department of Biotechnology’s North Eastern Programme. The main objectives of the programme are:

    Since 2010, DBT has consistently allocated 10% of its annual budget to specialized programmes in the NER, aiming to bridge the gap between potential and prosperity. These initiatives focus on harnessing endemic bioresources, promoting biotech education, and creating employment opportunities through bio-based entrepreneurship.

    North Eastern Programme timeline

     

    Biotechnology thrives on knowledge and innovation. Recognizing this, the DBT has launched multiple educational and training programmes focused on NER:

    Twinning R&D Programme for NER

    The programme was initiated in 2010-2011 towards developing core competence and capacity in various areas of biotechnology through collaboration of Institutes from North East India with other leading Institutes across the country. The programme has catalyzed vibrant collaborations between 65+ institutions from NER and those from the rest of India in various spheres of biotechnology, where close to 650 R&D projects has been supported benefitting around 450 researchers and 2000 young researchers / students.

    Collaborations under the DBT- Twinning R&D Programme

     

    Establishment of Biotech Hubs across NER

    Since 2011, a network of 126 Biotech Hubs were established across NER, providing necessary infrastructure in universities/ colleges/ institutions and the required training in sophisticated technologies to support and promote biological sciences / biotechnology education and research. In the Phase-II, 54 Biotech have been supported for focused Research & training on local issues.

     

    Biotechnology Labs in Senior Secondary schools (BLiSS) of NER 

    To create awareness among school students about biological sciences at the school level and also to provide an environment of access to a well-equipped laboratory, DBT initiated a programme for establishing “Biotechnology Labs in Senior Secondary Schools (BLiSS)” in NER in 2014.

    Visiting Research Professorship (VRP) programme

    The Programme was initiated in 2015, to utilize the expertise of outstanding scientists for bringing advancements in the Biotechnology and Life Science related activities in various institutions of research and higher learning in the NE States of India.

    Specialized training programmes for NE researchers by National Institutions

    Chemical Ecology Programme between NER and Bangalore Institutes  (NCBS, UAS and IISc.) initiated in 2015, trained and equipped young scientists from  the NER to produce quality research outcomes by providing tailormade interdisciplinary training to Ph.D. students and postdoctoral fellows recruited under collaborative projects in the field of chemical ecology.

     

    Enhancing Capacity in Genomics-Driven Research in Human Health & Disease in the North-East Region by DBT-NIBMG, Kaylani.

    The programme, initiated in 2016 provided comprehensive training to scientists, research students and clinicians belonging to the NER, engaged in “Biomedical Research”. Short-term training programme included workshops on various aspects of molecular and genetics-based analyses, handling clinical materials such as blood and tissue samples and/or cell lines.

    The following Human Resource Development focused programmes are being implemented in the North Eastern Region:

    Programmes to support locals

    To emphasise services to farmers, and academics, the “DBT-North East Centre for Agricultural Biotechnology (DBT-NECAB): Phase III” project has been supported. Similarly, to strengthen Citrus research in NER, facilities were established at Institute of Horticulture Technology (IHT), Mandira, Assam, for the generation of certified scion material from Khasi mandarin (Citrus reticulata) and sweet orange. Rootstocks free from Citrus greening bacteria (CGB) and Citrus tristeza virus have been developed.

    In view of promoting sustainable bioresources, a total area of 64.1 acres was covered for captive cultivation of selected medicinal crops like Curcuma caesia and compound-rich lemongrass (elemicinrich and methyl-eugenol-rich). About 649 farmers and entrepreneurs from NER benefited from the training and awareness program. Additionally, an essential oil distillation unit has been installed at Mudoi village, Arunachal Pradesh, to support farmers in revenue generation. Furthermore, the Docynia indica, commonly known as Assam apple or wild apple, has been successfully explored towards making value-added products such as pickles, jam, candy, juice, etc., and the knowledge is being popularized among the tribal communities of Assam and Meghalaya through awareness campaigns and meetings

    The major outcomes of the North Eastern programmes are:

     

    • Bacterial Blight resistant introgressed rice variety “Patkai”: A rice variety has been developed by AAU- Assam using introgressing blight resistant from improved samba mahsuri (ISM) into Ranjeet Sub1 background. This variety was notified by Central Variety Release Committee (CVRC)
    • Lateral flow assay for the rapid detection of brucellosis: A chimeric protein conjugate based Lateral Flow Assay (LFA) for the detection of anti-brucella antibodies in multiple livestock was standardized. The analytical sensitivity considering iELISA test as gold standard with sera sample revealed significant positivity in lateral flow tests.
    • Mobile app – Pig Disease Diagnosis Expert System (PDDES), a Computer-based application to assist in the diagnosis of pig diseases or medical conditions was developed. Using PDDES, veterinarians, farmers, and other swine industry professionals can quickly identify and treat diseases to minimize their impact on pig production and profitability. The application is available in Google playstore.

    By harnessing the region’s rich biodiversity and empowering local communities through education, research, and entrepreneurship, the Department of Biotechnology’s initiatives are not only preserving cultural and ecological heritage but also driving sustainable economic growth. As North East India continues to evolve into a hub of bio-innovation, it sets a remarkable example of how science and tradition can coexist to shape a prosperous and sustainable future.

    References

    https://dbtindia.gov.in/scientific-directorates/advanced-biofuels-sustainability-ner/ner#

    Annual Report 2023-24 https://dbtindia.gov.in/about-us/annual-report/dbt

    Biotechnology Support in the North Eastern Region (2010-2021) pdf

    https://dbtindia.gov.in/publications

    Click here to see PDF:

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  • MIL-OSI Asia-Pac: Novel technique unearthed to enhance next-generation lighting

    Source: Government of India

    Posted On: 21 FEB 2025 5:32PM by PIB Delhi

    An innovative method to minimize anion migration in perovskite nanocrystals, thereby reducing their sensitivity to heat and moisture, as well as colour instability, paving the way for efficient, durable optoelectronic devices.

    Lighting consumes nearly 20% of global electricity, and advancements in lighting technology have significantly improved energy efficiency. From the incandescent and fluorescent lamps of the past to the invention of LEDs in the 1960s, lighting has come a long way.

    A pivotal breakthrough occurred in 1993 when Shuji Nakamura and his team members developed high-brightness blue LEDs, enabling energy-efficient white LEDs (WLEDs), a feat recognized with the 2014 Nobel Prize in Physics. Today, LEDs lead the market in efficiency and lifespan.

    Currently, emerging light related technologies like OLEDs that offer vibrant colors, QLEDs that provide precise colour control and durability and micro/mini-LEDs that deliver high brightness and stability, are shaping the future of lighting.

    While thin and flexible OLEDs (Organic LEDs) are costly and have shorter lifespans, QLEDs (Quantum Dot LEDs) are toxic and their production is challenged by resource scarcity and Micro/Mini-LEDs are limited in their application due to high production costs.

    Perovskite (class of compounds which have the same type of crystal structure as CaTiO3 – Calcium Titanate) LEDs (PeLEDs) combine the advantages of OLEDs and QLEDs, positioning them as an excellent choice for next-generation lighting. However, their widespread application is limited by challenges such as sensitivity to heat and moisture, as well as colour instability caused by anion migration (which occurs when halide ions — chloride, bromide, or iodide move between quantum dots in mixed layers).

    To tackle this issue, researchers at the Centre for Nano and Soft Matter Sciences (CeNS) in Bengaluru, an autonomous institute under the Department of Science and Technology (DST), have developed an innovative method to minimize anion migration in CsPbX₃ perovskite nanocrystals.

    The team, led by Dr. Pralay K. Santra, synthesized green light emitting cesium lead bromide (CsPbBr₃) perovskite nanocrystals using a hot injection method, where oleylamine serves as the passivating ligand. To enhance stability, they applied argon-oxygen (Ar-O₂) plasma treatment, which immobilizes the surface ligands by creating a cross-linked, hydrophobic layer. This approach effectively stabilizes the ligands and slows anion exchange, significantly improving colour stability by several orders.

    This breakthrough published in the journal Nanoscale, provides valuable insights into stabilizing perovskite nanocrystals, paving the way for efficient, durable optoelectronic devices.

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  • MIL-OSI Asia-Pac: India Assumes Chairmanship of Bay of Bengal Inter-Governmental Organisation at the 13th Governing Council Meeting in Malé, Maldives

    Source: Government of India

    India Assumes Chairmanship of Bay of Bengal Inter-Governmental Organisation at the 13th Governing Council Meeting in Malé, Maldives

    Pledges Stronger Regional Cooperation for Strengthening Blue Economy and Protection of Marine Ecosystems

    Posted On: 21 FEB 2025 5:21PM by PIB Delhi

    In a historic move, India assumed Chairmanship of Bay of Bengal (BOB) Inter-Governmental Organisation from Bangladesh at the 13th Governing Council Meeting at Malé, Maldives today, in the presence of senior government representatives from Sri Lanka, Maldives and Bangladesh. The event was part of the high-level conference ‘Policy Guidance for Mainstreaming Ecosystem Approach to Fisheries Management (EAFM) in Small-Scale Fisheries’, hosted by the Ministry of Fisheries & Ocean Resources of the Maldives government, in collaboration with the Bay of Bengal Programme Inter-Governmental Organisation (BOBP-IGO), that has been successfully convened from February 20 to 22, 2025, in Lankanfinolhu, Maldives.  

       

    The Indian delegation, led by Dr. Abhilaksh Likhi, Secretary, Department of Fisheries, Government of India (GoI) assumed the Chair during the event. Secretary, Department of Fisheries highlighted that India is committed to upholding and building upon the achievements of the Bay of Bengal Programme Inter-Governmental Organisation (BOBP-IGO) as the leadership transitions from Bangladesh to India. He assured that the Department of Fisheries (GoI) would diligently work towards elevating the success of BOBP- IGO to newer heights and will be forthcoming in providing definitive guidance for all future endeavours for the development of fisheries sector across all member countries.

     

    Further, Dr. Abhilaksh Likhi underscored the importance of regional collaboration, and the crucial role India and other countries are playing in advancing the interests of the developing nations. Key areas of focus for increased regional co-operation include marine resource management, training & capacity building programs, research & policy advocacy, addressing Illegal, Unreported, and Unregulated (IUU) fishing, resolving regional issues etc.  As India remains optimistic about receiving continued support and collaboration from Food and Agriculture Organization (FAO), Southeast Asian Fisheries Development Center (SEAFDEC), United Nations Office on Drugs and Crime (UNODC), and other relevant organizations, Secretary, Department of Fisheries (GoI) urged all member nations to enhance and foster mutual support through exchange of knowledge, technology, experiences, data and best practices. The collaborations are expected to strengthen region’s blue economy, harmonize economic development along with protection of marine ecosystem and help in poverty alleviation. During the meeting, Secretary, Department of Fisheries (GoI) highlighted India’s developmental policies aimed at improving the well-being of small-scale fisheries and the sustainability measures being implemented under its various schemes and programs.

    With the successful culmination of this important event and India assuming Chair of the BoBP-IGO, it will be the endeavour of the Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying to not only lead the member nations in the most effective and efficient manner through collaborative efforts but also ensure that significant progress is made in the development of Small-scale fisheries (SSF) in the region. This achievement not only bestows international leadership and responsibilities on India, it is also expected to bring in multifaceted advancements for achieving the national goal of ‘Viksit Bharat 2047’.

    India’s Thrust on Small Scale Fisheries & The Way Forward

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  • MIL-OSI Asia-Pac: India Expands Collaboration with UK in Key Areas of Telecom, AI, and Emerging Technologies

    Source: Government of India (2)

    India Expands Collaboration with UK in Key Areas of Telecom, AI, and Emerging Technologies

    C-DOT and SONIC Labs Join Hands to Drive Open RAN Innovation

    Roundtable on Telecoms & AI: Dr. Neeraj Mittal, Secretary T highlights India’s leadership in the telecommunications sector and its rapid advancements in next-generation network technologies

    Posted On: 21 FEB 2025 1:45PM by PIB Delhi

    The Secretary (Telecom) of India visited the United Kingdom to engage with the Department of Science, Innovation and Technology (DSIT), UK and explore opportunities for collaboration in next-generation telecommunications, artificial intelligence, and space technology, further strengthening Indo-UK ties in these critical areas.

    The Secretary (Telecom) met with Mr. Chris Johnson, National Scientific Adviser, and Mr. Dave Smith, National Technology Adviser of DSIT. The discussions centred on emerging technologies and their applications in 5G, 6G, digital infrastructure security.

    The Secretary also met with Mr. Geoff Huggins, Director, Digital Directorate, Govt of Scotland, to discuss collaborative efforts in digital transformation through telecom, telecom security, and emerging telecom technologies.

    Secretary (Telecom) held a field visit at one of the six Federated Telecom Hubs (FTH) in the UK, specializing in Cloud and Distributed Computing (CHEDDAR). This hub leads cutting-edge research in 6G distributed cloud, AI for 6G, green 6G, and advanced sensing technologies.
    Furthermore, the Secretary met with Ms. Jean Innes, CEO of the Alan Turing Institute, for discussions on potential collaboration in digital twins, AI for telecom security, ethical AI, and fostering an AI innovation and startup ecosystem.

    Additionally, the Secretary visited Scotland’s 5G Centre at the University of Strathclyde and the 6G Research Centre at the University of Glasgow’s James Watt School of Engineering. These visits facilitated discussions on collaboration in 6G innovation, future sensing technologies, the exchange of technology such as the 5G stack, and student exchange programs to foster academic and industrial partnerships.

    Scotland  5G Center                                                                    Demonstration of remote dental surgery at 6G research Center

    UK-India Telecom Roundtable & MoU Signing

    Building on the strong foundation of the UK-India Technology Security Initiative (TSI), where telecom remains a key priority, a roundtable discussion was convened with key UK stakeholders from DSIT, leading business entities such as BT and Ericsson, and innovation hubs and centres, including SONIC Labs, UK Telecom Labs, TITAN, JOINER. Representatives from the UK Space Agency, European Space Agency, Innovate UK, and the UK Technology Innovation Network (UKTIN) also participated, exploring avenues for mutual cooperation. The roundtable was organized by the High Commission of India (HCI) in partnership with UKTIN. Dr. Neeraj Mittal highlighted India’s leadership in the telecom sector and its rapid advancements in next-generation network technologies.

    Following the roundtable, a Memorandum of Understanding (MoU) was signed between SONIC Labs and the Centre for Development of Telematics (CDOT). The agreement focuses on Open RAN-related policy and technical matters, including 5G Open RAN and Artificial Intelligence in 4G/5G

    Other key areas of collaboration which have been identified during the deliberations with various stakeholders on the telecom ecosystem of UK :

    • Establishment of a Joint Centres of Excellence focusing on telecom cybersecurity, AI in telecom, and digital twins.
    • Collaborative initiatives with British telcos to leverage mobile phone data for infrastructure planning, building upon India’s success in using such data for metro route planning.
    • Joint contributions to ITU for the development of 6G standards (IMT 2030).
    • Mutual recognition of testing labs and the establishment of new testing facilities.
    • Collaboration on Digital Twins, including standardization frameworks, privacy-enhancing technologies, and cross-sectoral data applications.
    • Advancing quantum communication solutions and submarine sea cable security.
    • Promoting the Indigenous 4G/5G telecom stack developed by CDOT.
    • Collaboration on space technology communication (TN-NTN) between the UK and India’s Bharat 6G Alliance.

    This visit underscored the shared commitment of India and the UK to drive innovation in telecom and digital infrastructure, paving the way for enhanced collaboration in next-generation connectivity solutions. It also reflects India’s proactive approach to shaping global telecom policies, fostering AI-driven innovations, and strengthening international partnerships for a digitally inclusive future.

    About C-DOT

    C-DOT is the premier research and development centre of the Department of Telecommunications (DoT), Government of India. It is dedicated to developing indigenous telecom technologies, including 4G/5G solutions, AI-driven network management, and cybersecurity frameworks, to enhance India’s telecom ecosystem and contribute to global standardization efforts.

    About SONIC Labs

    SONIC Labs (SmartRAN Open Network Interoperability Centre) is a world-leading innovation programme and R&D facility based in London, funded by the UK Government’s Department for Science, Innovation and Technology (DSIT). Co-delivered by Digital Catapult and Ofcom, SONIC Labs drives global technology development in Open RAN, aiming to create a diverse and competitive telecom supply chain.

    About The Alan Turing Institute, UK

    The Alan Turing Institute, the UK’s national institute for data science and AI, drives world-class research, fosters AI innovation, and collaborates with academia, industry, and policymakers to address global challenges. With a network of 13 partner universities and an open collaboration model, it plays a pivotal role in advancing AI-driven solutions, shaping public policy, and developing future skills. The Institute supports global AI initiatives, where AI is a key driver of economic growth and societal transformation.

    About CHEDDAR

    The Communications Hub for Empowering Distributed Cloud Computing Applications and Research (CHEDDAR) is a pioneering research hub advancing next-generation computing, Edge Computing, and AI-driven systems. Funded by the Engineering and Physical Sciences Research Council (EPSRC) – UK Research and Innovation (UKRI) via the Technology Missions Fund (TMF), CHEDDAR serves as a critical platform for collaboration across academia, industry, and the global community. Led by Imperial College London, with core partners including Cranfield, Durham, Glasgow, Leeds, and York universities, CHEDDAR focuses on integrating future communication systems with cloud and AI technologies. With 6G standards on the horizon, CHEDDAR aims to drive research in secure, sustainable, and intelligent communication infrastructures, ensuring the UK remains at the forefront of technological innovation.

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  • MIL-OSI Asia-Pac: Import of poultry eggs from Chhindwara District of Madhya Pradesh State in India suspended

    Source: Hong Kong Government special administrative region

    Import of poultry eggs from Chhindwara District of Madhya Pradesh State in India suspended
    Import of poultry eggs from Chhindwara District of Madhya Pradesh State in India suspended
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         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (February 21) that in view of a notification from the World Organisation for Animal Health (WOAH) about an outbreak of highly pathogenic H5N1 avian influenza in Chhindwara District of Madhya Pradesh State in India, the CFS has instructed the trade to suspend the import of poultry eggs from the area with immediate effect to protect public health in Hong Kong.     A CFS spokesman said that Hong Kong has currently established a protocol with India for the import of poultry eggs but not for poultry meat. According to the Census and Statistics Department, no eggs were imported into Hong Kong from India last year.     “The CFS has contacted the Indian authority over the issue and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreak. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

     
    Ends/Friday, February 21, 2025Issued at HKT 16:15

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  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation, Shri Amit Shah, will Chair the 27th meeting of the Western Zonal Council at Pune, Maharashtra on Saturday, February 22

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation, Shri Amit Shah, will Chair the 27th meeting of the Western Zonal Council at Pune, Maharashtra on Saturday, February 22

    Prime Minister Shri Narendra Modi has stressed on the need to leverage cooperative and competitive federalism for all round development of the country

    Union Home Minister and Minister of Cooperation, Shri Amit Shah, has stressed on the cooperative federalism approach to empower states and promote better understanding between the Centre and the states

    In the Modi Government, role of Zonal Councils has been changed from advisory to action platform to make them effective

    Zonal Councils discuss broad issues relating to infrastructure, mining, environment and forests, food security parameters and other subjects of common interest at the regional level

    Posted On: 21 FEB 2025 1:16PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah, will chair the 27th meeting of the Western Zonal Council on Saturday, 22nd February, 2025 at Pune, Maharashtra. The Western Zonal Council comprises the states of Gujarat, Goa, Maharashtra and the Union Territories of Dadra and Nagar Haveli and Daman & Diu. Maharashtra Government is hosting the meeting which is being organized by the Inter State Council Secretariat under the Ministry of Home Affairs, Government of India, in collaboration with the Government of Maharashtra.

    The 27th meeting of the Western Zonal Council will be attended by the Chief Ministers of the member states and the Administrator of the Union Territories, along with two senior ministers from each state. The Chief Secretaries, Advisors and other senior officers of the State Governments and Union Territories and Union Home Secretary, Secretary, Inter State Council and other senior officers of the Central Government will also participate in the meeting.

    Five Zonal Councils were established in the year 1957 under Section 15-22 of the States Reorganization Act, 1956. Union Home Minister is the Chairman of these five Zonal Councils, while the Chief Ministers of the States included in the respective Zonal Council and the Administrator/Lieutenant Governor of the Union Territories are its members. Chief Ministers of the states included in Zonal Council become vice-its chairman by turn. Two more ministers from each state are nominated by the Governor as members of the council. Each Zonal Council has also constituted a Standing Committee at the level of Chief Secretaries.

    Prime Minister Shri Narendra Modi, has stressed the need to leverage cooperative and competitive federalism for the all-round development of the country. In the spirit that strong States make strong nations, Zonal Councils provide a platform to enhance cooperation through a systematic mechanism for regular dialogue and discussion on issues affecting two or more states or the Center and the States.

    Union Home Minister and Minister of Cooperation, Shri Amit Shah, has stressed on the cooperative federalism approach to empower states and promote better understanding between the Centre and the States. In the Modi Government, role of Zonal Councils has been changed from advisory to action platform to make them effective. Meetings of respective standing committees of all five Zonal Councils, except Southern Council, were organized last year.

    The Zonal Councils take up issues involving the Centre and the States and between one or more States in the region. Thus, the Zonal Councils provide an excellent platform for resolving disputes and issues between the Centre and the States and between the several States in the region. The Zonal Councils hold discussions on a wide range of issues including speedy investigation of cases of sexual offence/rape against women and children and implementation of Fast Track Special Courts (FTSCs) for expeditious disposal of such cases, facilitation of banks/India Post Payment Bank branches within 5 kms in each village, implementation of Emergency Response Support System (ERSS-112), issues relating to infrastructure, mining, environment and forests, food security parameters and other subjects of common interest at the regional level.

    Many issues of national importance are also discussed in each meeting of the Zonal Councils. These include power operations, urban master plan, eliminating malnutrition among children through POSHAN Abhiyan, discussion on reducing the dropout rate of school children, participation of government hospitals in Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana, strengthening Primary Agricultural Credit Societies (PACS) and other issues of common interest.

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  • MIL-OSI Asia-Pac: Ministry of Mines classifies Barytes, Felspar, Mica and Quartz as Major Minerals

    Source: Government of India (2)

    Posted On: 21 FEB 2025 1:14PM by PIB Delhi

    The Ministry of Mines vide gazette notification dated 20th February, 2025 has shifted minerals Barytes, Felspar, Mica and Quartz from the list of minor minerals to the category of major minerals.

    This move follows the recent approval of the National Critical Mineral Mission by the Union Cabinet on 29th January, 2025. The Mission envisages exploration and mining of critical minerals within the country including recovery of these minerals from mines of other minerals, overburden and tailings.

    Quartz, Felspar and Mica are found in pegmatite rocks, which are an important source of many critical minerals such as Beryl, Lithium, Niobium, Tantalum, Molybdenum, Tin, Titanium, Tungsten, etc. These minerals have vital role in various new technologies, in energy transition, spacecraft industries, healthcare sector, etc. When the leases of Quartz, Felspar and Mica are granted as minor mineral leases, the lease holders do not declare existence of critical minerals or extract the critical minerals associated with it such as Lithium, Beryl, etc. as their primary objective is to use these minerals as minor minerals for construction, glass / ceramic making, etc. Consequently, the critical minerals associated with these minerals are neither getting extracted nor reported.

    Similarly, Baryte has various industrial applications which is used for oil and gas drilling, electronics, TV screens, rubber, glass, ceramics, paint, radiation shielding and medical applications. Baryte is used to make high density concrete to block x-ray emissions in hospitals, power plants, and laboratories. Baryte often occurs as concretions and vein fillings in limestone and dolostone. It is found in association with ores of Antimony, Cobalt, Copper, Lead, Manganese and Silver. Baryte with iron ore occurs in pocket type of deposit which cannot be mined in isolation. While mining either of the minerals, the production of associated mineral is inevitable.

    In view of the importance of these minerals, the Inter-Ministerial Committee on Mines & Minerals Sector constituted under the chairmanship of Dr. V. K. Saraswat, Member NITI Aayog, recommended that these minerals be shifted from the list of minor minerals to the category of major minerals. Once categorised as major minerals, there would be an increase in exploration and scientific mining of these minerals which are an important source of many critical minerals.

    Reclassification of minerals Barytes, Felspar, Mica and Quartz will not adversely affect the lease period of the existing leases. As major minerals, the leases for these minerals will get extended to a period of 50 years from the date of grant or till the completion of renewal period, if any, whichever is later as per section 8A of the MMDR Act, 1957.These mines will gradually register with the Indian Bureau of Mines and will be regulated as major minerals. A transition time of four months, that is, up to 30th June, 2025 has been provided. The revenue from mines of these minerals will continue to accrue to the State Government as earlier.

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  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi inaugurates the first edition of the SOUL Leadership Conclave

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi inaugurates the first edition of the SOUL Leadership Conclave

    The School of Ultimate Leadership (SOUL) will shape leaders who excel nationally and globally: PM

    Today, India is emerging as a global powerhouse: PM

    Leaders must set trends: PM

    In future leadership, SOUL’s objective should be to instill both the Steel and Spirit in every sector to build Viksit Bharat: PM

    India needs leaders who can develop new institutions of global excellence: PM

    The bond forged by a shared purpose is stronger than blood: PM

    Posted On: 21 FEB 2025 12:54PM by PIB Delhi

    The Prime Minister, Shri Narendra Modi inaugurated the School of Ultimate Leadership (SOUL) Leadership Conclave 2025, the first of its edition, at Bharat Mandapam, New Delhi today. Welcoming all the distinguished leaders and the upcoming young leaders of the future, Shri Modi remarked that some events are very dear and today was one such event. “Development of better citizens is necessary for Nation building, Development of excellent Leaders is necessary in every field”, said the Prime Minister. He remarked that it was necessary to groom excellent leaders in every sector, which is the need of the hour. Therefore, he highlighted, the School of Ultimate Leadership is an important milestone in the development journey of Viksit Bharat. Adding that SOUL was not just in the name of the organization, the Prime Minister remarked that SOUL would be the soul of the social life of India. He added that in another sense, SOUL also beautifully captures the essence of spiritual experience. Extending his greetings to all the stakeholders of SOUL, Shri Modi announced that a new, vast campus of SOUL would be ready near GIFT City, Gujarat in the near future. 

    The Prime Minister said that today when SOUL is taking the first step in its journey, India has to remember its critical role in shaping the institutes’ future. Quoting Swami Vivekanand, Shri Modi said the visionary leader always wanted to free India from the shackles of slavery and transform it with the help of merely 100 effective and efficient leaders. He remarked that the country has to move ahead with the same zeal. Noting that every citizen is working round the clock to achieve the dreams of a 21st-century Viksit Bharat, Shri Modi underlined the need for good leadership across all sectors in a country with a population of 140 crores. He expressed hope that the School of Ultimate Leadership will create leaders who will leave a mark all over the world, including in the field of Politics. The Prime Minister also highlighted the critical role of both human and natural resources and their role in the progress of any nation. He also cited an instance to show how Gujarat has emerged as a top state due to its leadership driven by its human capital, despite lack of sufficient natural resources. He added, “Human Resource has the greatest potential”. He said that the 21st century calls for resources capable of leading innovation and channelizing skills. He pointed out the growing importance of skills across various sectors. Shri Modi further stressed the need for leadership development for embracing new skills, which must be pursued through scientific and structured approach. Acknowledging the significant role that institutes like SOUL will play in the process, the Prime Minister was pleased to learn that it has already begun work in this direction. He also mentioned that workshops have been conducted for State Education Secretaries, State Project Directors, and other officials for the effective implementation of the new National Education Policy. Additionally, a leadership development camp has been organized for the Chief Minister’s Office staff in Gujarat. He stated that this is just the beginning, and SOUL must aim to become the world’s leading institution for leadership development.

    “India is emerging as a global powerhouse”, emphasized the Prime Minister. He remarked that for this momentum and speed to increase across all sectors, world-class leaders and international leadership are needed. Highlighting the potential of leadership institutions like SOUL to be game changers, he stated that such international institutions are not only a choice but a necessity. “There is a need for energetic leaders in every sector who can find solutions to global complexities and needs while prioritizing the nation’s interests on the global stage”, underscored Shri Modi. He emphasized that these leaders should have a global approach but retain a local mindset. He noted the importance of preparing individuals who understand both the Indian mind and the international mindset, and who are ready for strategic decision-making, crisis management, and futuristic thinking. The Prime Minister highlighted that to compete in international markets and global institutions, leaders who understand international business dynamics are required. He added that the role of SOUL is to prepare such leaders, with a large scale and scope, and with high expectations from them. 

    Shri Modi advised everyone to keep in mind that future leadership will not be limited to power, but leadership roles will require capabilities in innovation and impact. He highlighted the need for individuals in the country to emerge according to this necessity. He stated that SOUL will develop critical thinking, risk-taking, and solution-driven mindsets in these individuals. He expressed confidence that the institution will produce leaders who are prepared to work amidst disruptive changes. 

    Stressing the need to create leaders who set trends rather than just follow them, the Prime Minister remarked that as India advances new leadership in sectors ranging from diplomacy to tech innovation, the influence and impact of the country will multiply across various sectors. Highlighting that India’s entire vision and future depend on a strong leadership generation, Shri Modi stressed the importance of treading forward by combining global thinking with local upbringing. Underscoring the need to make governance and policy-making world-class, the Prime Minister said that this can be achieved when policymakers, bureaucrats, and entrepreneurs frame policies incorporating global best practices. He emphasised the significant role institutions like SOUL will play in this regard.

    Reiterating the need for rapid progress in all sectors to build a Viksit Bharat, Shri Modi quoted the scriptures emphasizing that people follow the conduct of great individuals. Therefore, he underscored the importance of leadership that reflects and conducts itself according to India’s national vision. He highlighted that the objective of SOUL should be to instill the necessary strength and spirit for constructing a developed India. He expressed confidence that the necessary changes and reforms will follow naturally once strong leadership is established.

    Emphasizing the need to develop both strength and spirit in public policy and social sectors, the Prime Minister remarked on the necessity of preparing leadership for emerging sectors such as deep-tech, space, biotech, and renewable energy. He highlighted the importance of creating leadership for conventional sectors like sports, agriculture, manufacturing, and social service. He stressed that India must not only aspire to excellence in all sectors but also achieve it. Shri Modi remarked “India needs leaders who can develop new institutions of global excellence”. He noted that India’s history is filled with glorious stories of such institutions and emphasized the need to revive that spirit. Expressing confidence that there are many capable individuals among those present at the event, Shri Modi stated that the institute should be a laboratory for their dreams and vision. He stressed that the foundation being laid today should be a source of pride for future generations, who will remember it with pride 25-50 years from now. 

    Shri Modi emphasized the need for the institute to have a clear understanding of the aspirations and dreams of crores of Indians. He remarked that the sectors and factors that present both challenges and opportunities should be well-defined. “When we move forward with a common goal and collective effort, the results are extraordinary”, said the Prime Minister. He stated that the bond forged by a shared purpose is stronger than blood, uniting minds, fueling passion, and standing the test of time. He remarked that a significant common goal and purpose lead to the development of leadership and team spirit. He noted that individuals dedicate themselves to their goals, bringing out their best capacities. Shri Modi stressed that a shared purpose not only brings out the best in individuals but also enhances their capabilities according to the larger objective. He highlighted that this process develops leaders who strive to acquire the necessary skills to reach higher levels.

    “A shared purpose fosters an unprecedented sense of team spirit”, said Shri Modi. He remarked that when people walk together as co-travellers with a shared purpose, a strong bond develops. He highlighted that this process of team building also gives rise to leadership. He cited the example of India’s freedom struggle as the best illustration of a shared purpose, noting that it produced leaders not just in politics but in other sectors as well. Shri Modi stressed the need to revive the spirit of the freedom movement and draw inspiration from it to move forward.

    Quoting a Sanskrit verse, the Prime Minister emphasised that there is no word that cannot be turned into a mantra, no herb that cannot become medicine, and no person who is incapable. He highlighted the need for a planner to properly utilize and guide individuals. He remarked that SOUL plays the role of such a planner. Shri Modi noted that many leaders who were present at the event, have learned and honed their leadership skills. He cited a quote emphasizing the different levels of development: personal success through self-development, organizational growth through team development, and explosive growth through leadership development. He stressed that these principles should always remind everyone of their duties and contributions. 

    Highlighting the formation of a new social order in the country, being shaped by the youth born in the 21st century as well as in the past decade, Shri Modi said that this generation will truly be the first developed generation of India, referring to them as the “Amrit Peedhi”. Expressing confidence that the new institution, SOUL, will play a significant role in preparing the leadership of this “Amrit Peedhi”, he extended his best wishes to everyone associated with the institute.

    The Prime Minister of Bhutan, H.E. Mr. Dasho Tshering Tobgay, Chairman of the SOUL Board, Shri Sudhir Mehta and Vice Chairman, Shri Hasmukh Adhia were present among other dignitaries and delivered the keynote address at the event. Shri Modi also thanked the Prime Minister of Bhutan for being present at the event on such an important day of the birthday of the King of Bhutan. 

    Background

    The two day SOUL Leadership Conclave from 21st to 22nd February will serve as a premier platform where leaders from diverse domains like politics, sports, arts and media, the spiritual world, public policy, business and the social sector will share their inspiring life journeys and discuss aspects relating to leadership. The conclave will foster an ecosystem of collaboration and thought leadership, facilitating learning from both failures and successes, to inspire young audiences.

    School of Ultimate Leadership is an upcoming leadership institution in Gujarat to enable authentic leaders to advance public good. The aim is to broaden the landscape of political leadership in India through formal training and to include those who rise through merit, commitment, and passion for public service and not just from political lineage. SOUL brings in insights, skills and expertise necessary to navigate the complex challenges of leadership in today’s world.

     

     

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  • MIL-OSI Asia-Pac: NHRC, India organised a meeting of the Core Group on Women on the theme ‘Empowering ASHAs: Securing the right to work with dignity’

    Source: Government of India (2)

    NHRC, India organised a meeting of the Core Group on Women on the theme ‘Empowering ASHAs: Securing the right to work with dignity’

    NHRC, India Chairperson, Justice Shri V Ramasubramanian attributes a significant reduction in neonatal and infant mortality rates in the country to the services of ASHAs

    Calls for collaborative efforts between the Centre and State Governments to address the issues concerning ASHA workers’ welfare

    Member, Justice (Dr) Bidyut Ranjan Sarangi says, ASHAs’ voluntary role as the first line of medical care in far-flung areas needs to be better recognized

    Secretary General, Shri Bharat Lal says, their issues related viz. workload and insufficient resources need to be addressed

    Among various suggestions, replacing an incentive-based payment structure with a fixed salary plus performance-based benefits underscored

    Providing ASHAs with health insurance, maternity benefits, and accident coverage also highlighted

    Posted On: 21 FEB 2025 11:54AM by PIB Delhi

    The National Human Rights Commission (NHRC), India organised a core group meeting in hybrid mode on women on the theme ‘Empowering Accredited Social Health Activists (ASHAs): Securing the right to work with dignity’ at its premises in New Delhi. It was chaired by the NHRC, India Chairperson, Justice Shri V. Ramasubramanian in the presence of Member, Justice (Dr) Bidyut Ranjan Sarangi, Secretary General, Shri Bharat Lal, senior officers, experts, and ASHAs.

    Addressing the participants, Chairperson, Justice Shri V. Ramasubramanian highlighted the remarkable contributions made by ASHAs over the past 20 years towards improvements in the healthcare sector in the country. He emphasised that the significant impact of ASHAs has led to notable progress in reducing neonatal and infant mortality rates. They showed that individuals without formal education can still be trained to become skilled workers. He also noted that while there are many educated people today, the number of skilled workers is decreasing. This gap is being addressed by the ASHA scheme. However, he pointed out that ASHAs’ have been stating that their remuneration is not in proportion to their contribution to society. The irony is that at times, those who contribute the most often receive the least; those who care for the marginalized end up being marginalized themselves.

    Justice Ramasubramanian said that public health and fixing of minimum wages is a subject coming under the State. Population control and family planning fall under the Concurrent list. Hence, there should be a collaborative effort between the Centre and State Governments to address the issues concerning ASHAs’ welfare. He also called for a concrete policy and actionable measures for improving the working conditions and living standards of ASHAs.

    NHRC, India Member, Justice (Dr) Bidyut Ranjan Sarangi said that the ASHAs are the first responders to any distress related to pregnant women and children in the village areas before consultation with any doctors materializes. Therefore, their role as activists should be better recognized with adequate incentives, compensation, and security to ensure their right to life with dignity.

    Before this, while setting the agenda of the meeting and providing background, the Secretary General, Shri Bharat Lal highlighted the theme of the three technical sessions. These included: ‘The Evolving Nature of Challenges faced by ASHA’, ‘Role of the Government in Protecting and Promoting the Rights of ASHAs’, and ‘Way Forward: Ensuring the Right to Work with Dignity for ASHAs.’ He said that the Government has come up with various schemes for women’s empowerment and given the contribution of ASHAs in primary healthcare, their issues such as low honorarium, excessive workload, and insufficient resources also need to be addressed. He highlighted their role during COVID-19 as frontline workers have been exemplary, which has also been acknowledged by the WHO.

    The speakers included Shri Saurabh Jain, Joint Secretary, MoHFW; Ms Pallavi Agarwal, Joint Secretary, Ministry of Women & Child Development; Dr Shweta Khandelwal, Senior Advisor Jhpiego India; Ms Ruth Manorama, President, The National Alliance of Women (NAWO); Dr Sabiha Hussain, Professor and Director, Sarojini Naidu Center for Women’s Studies, Jamia Islamia University; Ms. Vaishali Barua, National Coordinator, UN Women India; Ms Dipa Sinha, Visiting Professor, Azim Premji University; Ms Surekha Secretary, ASHA Workers’ and Facilitators’ Federation of India (AWFFI); Ms Sunita, ASHA Worker, Haryana, NHRC, India DG (I), Shri R Prasad Meena, Registrar (Law), Joginder Singh, Director, Lt Col Virender Singh among others.

    Some of the suggestions that emanated from the discussion included;

    • Need to consider granting ASHAs formal worker status with fixed monthly emoluments, social security, pensions, paid leave, etc.;
    • Standardize honorarium/ wages across states, ensuring that honorariums align with minimum wage regulations;
    • Replace incentive-based payment structure with a fixed amount plus performance-based benefits;
    • Provide health insurance, maternity benefits, and accident coverage to ASHAs;
    • Ensure free personal protective equipment (PPE), transport allowances, and access to clean rest areas during field visits;
    • Enforce strict policies against harassment and violence, ensuring safe working conditions for ASHAs in all regions;
    • Utilize Rs 49,269 crore (As of 2022) of unspent funds from the Building and Other Construction Workers Welfare Cess Act for childcare, elderly care, and ASHA welfare;
    • Allocate Rs 70,051 crore health sector grants towards strengthening early childhood care and healthcare workers’ training;
    • Establish state-funded creches at primary health centres and community centres to support ASHAs who are also primary caregivers at home;
    • Develop structured career pathways for ASHAs to transition into higher-paying healthcare roles, such as nursing, midwifery, and public health administration;
    • Provide regular skill enhancement training in disease surveillance, mental health counseling, and emergency medical response;
    • Introduce bridge courses in collaboration with medical colleges and universities to certify ASHAs for formal healthcare roles;
    • Incentivize private sector investments in childcare and elderly care infrastructure, with tax benefits for employers offering workplace childcare solutions;
    • Promote cooperative models, like the SEWA model, to ensure ASHAs have decision-making power over wages and working conditions; and
    • Foster public-private partnerships to expand affordable community-based care services, creating decent job opportunities for ASHAs.

     

    The Commission will further deliberate on the suggestions, seek additional inputs and deliberate to take a view in the matter to ensure the welfare of ASHAs.

     

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  • MIL-OSI Asia-Pac: Day 2 #CTDDR2025: The 9th MahaKumbh for Drug Research

    Source: Government of India

    Day 2 #CTDDR2025: The 9th MahaKumbh for Drug Research

    Drug Resistance, Car T Cell Therapy, Parasitic, Viral disease and Natural Product Chemistry was the main theme of the Day

    Experts from different area shared their recent findings with the participants

    Posted On: 21 FEB 2025 11:35AM by PIB Delhi

    Today, on the second day of the 9th “International Symposium on Current Trends in Drug Discovery Research” at CSIR-Central Drug Research Institute, Lucknow, observed important scientific deliberations by eminent scientists. Researchers and scholars presented their work through visually compelling posters, fostering discussions and knowledge exchange

    Pan-drug-resistant Gram-negative isolates are major risk for life,

    novel beta-lactam enhancerwould be helpful to manage the Pan-drug resistant: Sachin S. Bhagwat

    In scientific session II on “Concept to point of care: Drugs pending submission/approval or recently approved,” Dr. Sachin S. Bhagwat from the Wockhardt Research Center, Aurangabad, India, delivered his talk on the discovery of a novel mechanism of action-based β-lactam + β-lactam enhancer combination, WCK 5222, with comprehensive coverage of pan-drug resistant Gram negatives. He highlighted AMR has rendered many existing antibiotics ineffective, posing a major global health crisis.The widespread prevalence of MDR, XDR, and PDR Gram-negative pathogens, including carbapenem-resistant strains, has rendered many last-line antibiotics ineffective. The ICMR data shows concerning carbapenem resistance rates: over 90% in Acinetobacter, 45% in P. aeruginosa, and 69% in Klebsiella. As a result, clinicians frequently use medications with diminished safety or unproven combinations. These infections are responsible for up to 8.85 lakh deaths annually, with an additional 9.6 lakh linked to sepsis. Further, he shared his research on the development of a novel β-lactam enhancer, Zidebactam, which, in combination with cefepime (WCK 5222), demonstrated potent activity against 35,000 global pan-drug-resistant Gram-negative isolates. He mentioned that WCK 5222 has saved over 45 lives under compassionate use and completed successful trials in severe documented meropenem-resistant infections and is expected to change the treatment paradigm for life-threatening Gram-negative infections.

    Dr. Sachin S. Bhagwat speaking at the 9th “International Symposium on Current Trends in Drug Discovery Research” #CTDDR2025 at CSIR-CDIR, Lucknow.

    CAR-T cell therapy is an emerging approach for cancer care: Prof. Rahul Purwar

    Prof. Rahul Purwar from the Indian Institute of Technology, Bombay, shared the journey on First “Make in India” CAR-T cell therapy: from R&D to clinic to market. Cancer is a worldwide issue and India has the second-highest cancer mortality rate. The CAR-T cell therapy is an emerging approach for cancer care. However, this technology is extremely expensive (500,000 USD/patient) and not available in India. To ensure its accessibility to all, they developed a robust, safe and affordable technology platform and validated through Phase I and Phase II clinical trials. He further noted that, CD19 CAR-T is approved by CDSCO for commercial use in October 2023, and now over 300 patients are treated across the country.

    Prof. Rahul Purwar from IIT, Bombay speaking at the 9th “International Symposium on Current Trends in Drug Discovery Research” #CTDDR2025 at CSIR-CDIR, Lucknow.

    Mitochondrial translation can be targeted for new possibilities of new therapeutic development for Apicomplexan parasites borne diseases: Prof. Dominique Soldati-Favre

    In her Plenary Lecture on Toxoplasma gondii Mitoribosome from highly fragmented rRNAs to a functional Machine, Prof. Dominique Soldati-Favre from the University of Geneva, Switzerland, shared her research on Toxoplasma gondii Mitoribosome. Apicomplexan parasites are responsible for severe human diseases such as malaria, toxoplasmosis, and babesiosis. She said, these parasites, in addition to small mitochondrial genome, contain fragmented mitoribosomal rRNAs, which complicates our understanding of mitoribosome assembly. Using apicoplast-less T. gondii parasites, they have identified drugs that specifically target mitochondrial translation. This approach offers exciting new possibilities for therapeutic development.

    Prof. Dominique Soldati-Favre speaking at the 9th “International Symposium on Current Trends in Drug Discovery Research” #CTDDR2025 at CSIR-CDIR, Lucknow.

    HACK-indices provides a rational basis for selecting next-generation probiotics and live biotherapeutic products: Dr. Tarini Shankar Ghosh

    Dr. Tarini Shankar Ghosh from The Indraprastha Institute of Information Technology, Delhi, presented the efforts to identify the Health-Associated Core-Keystones (HACK) across population groups. The availability of HACK-indices provides a rational basis for selecting next-generation probiotics and live biotherapeutic products to promote general health. Through global meta-analysis of gut microbiomes from 127 studies, his group investigated 196 taxa for their association with three hallmark properties, i.e., prevalence/community-influence in non-diseased subjects, longitudinal stability and host health and integrated them into a single measure, the HACK-index. Using this HACK-index, they presented a ranking order of microbiome taxa based on their estimated contribution to both microbiome stability and host-health.

    Host-directed therapy for infectious diseases may be new hope for targeting antimicrobials: Prof. Christian Doerig

    Prof. Christian Doerig from the Royal Melbourne Institute of Technology University, Australia, explained about the host-directed therapy that offers untapped targets limiting cross-resistance to existing antimicrobials and reduced susceptibility to de novo resistance. Using an antibody microarray directed against human signalling proteins, they identified potential antiviral targets as well as lead compounds. He further reported the identification of some erythrocytic kinases that are activated by infection with Plasmodium falciparum. Inhibitors targeting these kinases display high potency against parasite proliferation.

    Prof. Christian Doerig speaking at the 9th “International Symposium on Current Trends in Drug Discovery Research” #CTDDR2025 at CSIR-CDIR, Lucknow.

    Single-dose liposomal amphotericin B (LAmB) as a game changer in the management of visceral leishmaniasis: Prof. Shyam Sundar

    Prof. Shyam Sundar from the Banaras Hindu University, Varanasi, shared the journey of the epidemic of visceral leishmaniasis (VL), starting from its origin to elimination, in India. He emphasized single-dose liposomal amphotericin B (LAmB) as a game changer in the management of VL in India. He noted that the elimination target for VL needs to hold in 2025 to obtain the WHO certification.

    The open science discovery of DNDi-6510 led to an orally bioavailable SARS-CoV2 antiviral: Dr. Peter Sjö

     

    In Session IV today, Dr. Peter Sjö from the Drugs for Neglected Diseases Initiative (DNDi), Switzerland, shared about the need for broad-spectrum oral antivirals. He reported the results of the COVID Moonshot, a fully open-science, crowd sourced, structure-enabled drug discovery campaign targeting the SARS-CoV-2 main protease. He further discussed the lead series discovery and approaches to overcome ADMET issues which lead to the front runner preclinical candidate DNDI-6510 against SARS-CoV2.

    Novel antivirals to provide immediate therapeutic options against serious viral infections is need of the day: Prof. Sudhanshu Vrati

    Prof. Sudhanshu Vrati from the Regional Centre for Biotechnology (RCB), Faridabad, also mentioned the need for the novel antivirals to provide immediate therapeutic options against serious viral infections. As the new viral pathogens are constantly emerging and posing a serious threat of imminent epidemics. He presented the background to the science of antiviral development with an example of a novel antiviral against Chikungunya virus, developed in his lab.

    New rapid antigen tests are being developed for dengue, zika and chikungunya: Prof. Gaurav Batra

    Prof. Gaurav Batra fromthe Translational Health Science and Technology Institute (THSTI), Faridabad delivered their novel findings on the diagnostics of Arboviral infections, which include, dengue, Zika, and chikungunya. He presented the data on the development of ELISA and rapid NS1 tests with high sensitivity, serotype-independent performance, and significantly improved detection of secondary infections of dengue virus. They are also developing rapid antigen tests for Zika and chikungunya, with the goal of integrating them into a multiplex diagnostic platform. These advanced diagnostics could enhance clinical trial design, patient selection, and treatment evaluation, ultimately contributing to more effective therapeutic strategies and public health responses.

    The V Parallel Session of #CTDDR2025 was dedicated on Natural product chemistry for novel drugs.

    Prof. Inder Pal Singh from NIPER, SAS Nagar, shared his research on development of wound healing and anti-inflammatory formulations from Seabuckthorn plant Hippophae rhamnoides L. They developed a cost effective method for plant extraction leading to isolation of Seabuckthorn fruit oil (IPHRFH) which showed good wound healing activity and was developed into Cream and Gel formulation.

    Dr. Chandra Kant Katiyar from Emami Ltd, Gurgaon, shared his thoughts on new drug discovery from medicinal plants: Issues, challenges and way forward. His talk shared insights into the multifaceted approaches to developing plant-based drugs, covering forward pharmacology, where compounds are screened for biological activity, and reverse pharmacology, which builds on traditional knowledge to validate therapeutic claims. He emphasized that, by integrating traditional knowledge with technology guided by regulations, medicinal plants can continue to be a cornerstone in addressing unmet medical needs globally.

    Dr. Ashutosh Pandey from the National Institute of Plant Genome Research (NIPGR), New Delhi, delivered a talk on “Engineering crops for value addition of health-beneficial natural products: From fundamentals to applications”. He presented insights into how plant metabolites regulate, interact with cellular signalling pathways, and modulate gene expression. Additionally, he discussed the regulatory roles of transcriptional factors and their interplay in fine-tuning flavonoid biosynthesis in agriculturally important crops like chickpea and banana. This knowledge can be leveraged for genetic manipulation to enhance the nutritional value of crops.

    In the Flash Talks & Poster Session Young Investigators presented their novel findings

    In the flash talk session, selected students and young faculty from different scientific fields, related to drug development, delivered their novel findings. In the Poster session today more than 180 posters were presented by the young investigators.

    ***

    NKR/PSM

    (Release ID: 2105196) Visitor Counter : 8

    MIL OSI Asia Pacific News

  • MIL-OSI Global: South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Source: The Conversation – Africa – By Andrew Robert Donaldson, Senior Research Associate, Southern Africa Labour and Development Research Unit, University of Cape Town

    South Africa’s finance minister, Enoch Godongwana, cancelled the unveiling of the country’s 2025 budget as it was due to be released. The move is unprecedented in the country’s history.

    The reason for the abrupt cancellation was the failure of the minister to get cabinet approval for the proposal to raise value added tax (VAT) from 15% to 17%. VAT is the second biggest contributor to tax collection after personal income tax, followed by corporate taxes.

    The strongest opposition to the idea came from parties that have joined the African National Congress in a government of national unity which was formed after the ruling party lost its majority in polls in June 2024.

    To understand the finance minister’s efforts to raise VAT it’s helpful to revisit the revenue proposals of a year ago.

    In the 2024 budget, all the additional revenue was to come from a “stealth tax” on personal income. Because personal income tax is levied at increasing rates as income rises, the tax burden rises as wages go up if tax thresholds are not adjusted for inflation.

    In the Treasury’s estimates, R16.3 billion (US$889 million) was raised in 2024/25 by not making inflation-related adjustments to the personal income tax brackets and rebates. This meant that another 200,000 income-earners became taxpayers, and everyone’s effective tax rate was raised.

    This has been a long-standing trend. Over the past decade, the tax threshold (for individuals under the age of 65) has declined from R115,000 (in today’s prices) to R95,750, bringing about 850,000 more people into the tax net.

    Above the threshold, tax rates were raised by one percentage point in 2015 and the 45% rate was introduced in 2017.

    As a strategy for raising personal income tax, the results have been impressive. Personal income tax has increased from 8% of GDP in 2014 to nearly 10%. In the nine months to December 2024, personal income tax increased by over 13% compared with the same period in 2023. Even after taking account of the revenue windfall from retirement fund withdrawals following recent reforms, this signals a substantial erosion of households’ disposable income.

    But that is precisely the problem. Taxes collected on goods and services (mainly VAT and excise duties) increased by just 0.4% last year by comparison with 2023. Revenue from corporate income tax declined. The implication is clear: higher taxes on personal income are at least partially offset by reduced consumption and declines in revenue from other sources.

    So the Treasury has taken the view, this year, that there should be relief given in the personal income tax and that additional revenue will have to come from taxes on consumption.

    There are good reasons for this: personal income tax has contributed a rising share of the overall tax burden over the past decade, while households also face rising costs of electricity, housing and services. However, raising VAT also has its downsides: it generates revenue by raising prices relative to the costs of production, and effectively also reduces households’ spending power.

    The Treasury’s estimate is that an increase in VAT from 15% to 17% would raise an additional R60 billion (US$3.3 billion) in revenue. To offset the impact on low-income households, the schedule of basic foods that don’t attract VAT will be extended beyond the present list of 21 items to include various specified meat cuts and tinned and bottled vegetables. In addition, above-inflation adjustments to social grants are proposed.

    The main argument against increasing the VAT rate is that it is regressive – it has a greater impact on lower-income households than on the rich. But a two percentage point VAT increase would also be a substantial shock to overall consumption spending. It would temporarily raise inflation and it would have a negative impact on business income and profitability.

    The arguments for a higher VAT rate, rather than other tax increases, are in part about its broad base and comparative ease of collection.

    There are nonetheless valid concerns from an administrative perspective. The Treasury argues that other countries have higher VAT rates than South Africa (Morocco, Turkey, Brazil and India, for example). But this is not in itself protection against the potential impact of a higher tax rate on non-compliance and tax fraud.

    The upsides

    There may be deeper economic considerations behind the Treasury’s tax proposal.

    The most compelling arguments for VAT as a revenue source are in its basic design structure: what is taxed and what is not. There are two key features. The first is that it taxes imports and zero-rates exports. The second is that the VAT base excludes investment.

    The import VAT is sometimes seen as an unfair form of trade protection. But it simply levels the consumption tax across foreign and domestic-produced goods. And it’s simpler than excise and sales taxes.

    The important consideration for domestic production is that by comparison with alternative taxes on income, the VAT encourages exports.

    The exclusion of investment from the VAT base caused some controversy when the tax was introduced in 1990. Some argued that this would bias economic development in favour of capital and against labour. But investment and employment are complements. To achieve higher rates of employment, South Africa needs far greater levels of investment. Since 2013, investment has fallen as a percentage of GDP from 19% to less than 15%: nowhere enough to generate growth sufficient to bring down South Africa’s unemployment rate.

    Because the VAT base is consumption, not investment, it supports expansion of the economy’s productive capacity.

    Managing the fallout

    But this doesn’t change the short-term impact on the cost of living that would result from a VAT rise. A higher tax burden will reduce demand and inhibit growth at first, before potentially contributing to fiscal stability and lower interest rates.

    If the tax increase is to be avoided, then the spotlight will have to fall on the expenditure side of the budget. This is a far harder discussion than tax policy – there are a thousand options to consider, and there are vested interests wherever you look.

    If Godongwana’s VAT rate increase is to be rejected, tough choices on the alternatives will have to be confronted.

    Andrew Robert Donaldson is a former National Treasury official.

    ref. South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax – https://theconversation.com/south-africas-finance-minister-wanted-to-raise-vat-the-pros-and-cons-of-a-tricky-tax-250460

    MIL OSI – Global Reports

  • MIL-OSI Africa: South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

    Source: The Conversation – Africa – By Andrew Robert Donaldson, Senior Research Associate, Southern Africa Labour and Development Research Unit, University of Cape Town

    South Africa’s finance minister, Enoch Godongwana, cancelled the unveiling of the country’s 2025 budget as it was due to be released. The move is unprecedented in the country’s history.

    The reason for the abrupt cancellation was the failure of the minister to get cabinet approval for the proposal to raise value added tax (VAT) from 15% to 17%. VAT is the second biggest contributor to tax collection after personal income tax, followed by corporate taxes.

    The strongest opposition to the idea came from parties that have joined the African National Congress in a government of national unity which was formed after the ruling party lost its majority in polls in June 2024.

    To understand the finance minister’s efforts to raise VAT it’s helpful to revisit the revenue proposals of a year ago.

    In the 2024 budget, all the additional revenue was to come from a “stealth tax” on personal income. Because personal income tax is levied at increasing rates as income rises, the tax burden rises as wages go up if tax thresholds are not adjusted for inflation.

    In the Treasury’s estimates, R16.3 billion (US$889 million) was raised in 2024/25 by not making inflation-related adjustments to the personal income tax brackets and rebates. This meant that another 200,000 income-earners became taxpayers, and everyone’s effective tax rate was raised.

    This has been a long-standing trend. Over the past decade, the tax threshold (for individuals under the age of 65) has declined from R115,000 (in today’s prices) to R95,750, bringing about 850,000 more people into the tax net.

    Above the threshold, tax rates were raised by one percentage point in 2015 and the 45% rate was introduced in 2017.

    As a strategy for raising personal income tax, the results have been impressive. Personal income tax has increased from 8% of GDP in 2014 to nearly 10%. In the nine months to December 2024, personal income tax increased by over 13% compared with the same period in 2023. Even after taking account of the revenue windfall from retirement fund withdrawals following recent reforms, this signals a substantial erosion of households’ disposable income.

    But that is precisely the problem. Taxes collected on goods and services (mainly VAT and excise duties) increased by just 0.4% last year by comparison with 2023. Revenue from corporate income tax declined. The implication is clear: higher taxes on personal income are at least partially offset by reduced consumption and declines in revenue from other sources.

    So the Treasury has taken the view, this year, that there should be relief given in the personal income tax and that additional revenue will have to come from taxes on consumption.

    There are good reasons for this: personal income tax has contributed a rising share of the overall tax burden over the past decade, while households also face rising costs of electricity, housing and services. However, raising VAT also has its downsides: it generates revenue by raising prices relative to the costs of production, and effectively also reduces households’ spending power.

    The Treasury’s estimate is that an increase in VAT from 15% to 17% would raise an additional R60 billion (US$3.3 billion) in revenue. To offset the impact on low-income households, the schedule of basic foods that don’t attract VAT will be extended beyond the present list of 21 items to include various specified meat cuts and tinned and bottled vegetables. In addition, above-inflation adjustments to social grants are proposed.

    The main argument against increasing the VAT rate is that it is regressive – it has a greater impact on lower-income households than on the rich. But a two percentage point VAT increase would also be a substantial shock to overall consumption spending. It would temporarily raise inflation and it would have a negative impact on business income and profitability.

    The arguments for a higher VAT rate, rather than other tax increases, are in part about its broad base and comparative ease of collection.

    There are nonetheless valid concerns from an administrative perspective. The Treasury argues that other countries have higher VAT rates than South Africa (Morocco, Turkey, Brazil and India, for example). But this is not in itself protection against the potential impact of a higher tax rate on non-compliance and tax fraud.

    The upsides

    There may be deeper economic considerations behind the Treasury’s tax proposal.

    The most compelling arguments for VAT as a revenue source are in its basic design structure: what is taxed and what is not. There are two key features. The first is that it taxes imports and zero-rates exports. The second is that the VAT base excludes investment.

    The import VAT is sometimes seen as an unfair form of trade protection. But it simply levels the consumption tax across foreign and domestic-produced goods. And it’s simpler than excise and sales taxes.

    The important consideration for domestic production is that by comparison with alternative taxes on income, the VAT encourages exports.

    The exclusion of investment from the VAT base caused some controversy when the tax was introduced in 1990. Some argued that this would bias economic development in favour of capital and against labour. But investment and employment are complements. To achieve higher rates of employment, South Africa needs far greater levels of investment. Since 2013, investment has fallen as a percentage of GDP from 19% to less than 15%: nowhere enough to generate growth sufficient to bring down South Africa’s unemployment rate.

    Because the VAT base is consumption, not investment, it supports expansion of the economy’s productive capacity.

    Managing the fallout

    But this doesn’t change the short-term impact on the cost of living that would result from a VAT rise. A higher tax burden will reduce demand and inhibit growth at first, before potentially contributing to fiscal stability and lower interest rates.

    If the tax increase is to be avoided, then the spotlight will have to fall on the expenditure side of the budget. This is a far harder discussion than tax policy – there are a thousand options to consider, and there are vested interests wherever you look.

    If Godongwana’s VAT rate increase is to be rejected, tough choices on the alternatives will have to be confronted.

    – South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax
    – https://theconversation.com/south-africas-finance-minister-wanted-to-raise-vat-the-pros-and-cons-of-a-tricky-tax-250460

    MIL OSI Africa

  • MIL-OSI Economics: Samsung Transforms Smartphone Service Centres with Premium Design and Exceptional Customer Service

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, is set to elevate its smartphone customer service experience with a comprehensive redesign of its service centres. This initiative aims to establish a seamless service-to-sales journey, reinforcing Samsung’s commitment to superior after-sales support with a strong focus on premium customer care.
     
    Designed to deliver an integrated omni-channel experience, the remodelled service centres incorporate advanced digitalised processes to cater to evolving expectations of Samsung’s young and dynamic customer base. They not only boast a diverse product portfolio but also lead the way in technological innovation with advanced diagnostic tools that detect issues with pin-point accuracy.
     
    The upgraded centres break away from traditional layouts, introducing plush, sofa-style seating equipped with inbuilt wireless charging stations to create a lounge-like ambience. Reimagined accessory walls showcase Samsung’s extensive range of wearables, while ultra-large digital screens feature the latest product innovations, offering visitors an immersive experience.
     

     
    “Over the decades, we have expanded a robust network of service centres to support our existing customer base which is concurrent to the needs of our sales partners. As consumer expectations evolve every day, we wanted to transform these spaces by infusing youthful and efficient design elements to make them more appealing, while keeping traditional customer needs in mind. At the heart of this is Samsung’s commitment to providing a premium experience to its customers,” said Sunil Cutinha, VP, Customer Satisfaction, Samsung India.
     
    To enhance customer interactions, dedicated kiosks will enable visitors to connect with product support specialists, explore new product launches, and stay updated on exclusive offers and discounts. An online appointment booking system will allow customers to schedule their visits in advance, ensuring a hassle-free experience with minimal wait times.
    Samsung currently operates more than 3,000 service touch points across India including physical service centres, resident engineers and collection points. The roll-out of the service centre redesign will be implemented in phases across key cities, ensuring an elevated customer experience nationwide.

    MIL OSI Economics

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – HCBL Co-operative Bank Ltd., Lucknow – Extension of period

    Source: Reserve Bank of India

    The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to HCBL Co-operative Bank Ltd., Lucknow vide Directive No. LKO.DOS.SED.No.S842/10-12-133/2022-2023 dated February 23, 2023 for a period of six months up to August 24, 2023 as modified from time to time, which were last extended up to February 24, 2025 vide Directive No. DOR.MON/D-71/12.22.133/2024-25 dated November 19, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond February 24, 2025.

    2. Accordingly, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business of February 24, 2025 to close of business of May 24, 2025, subject to review.

    3. Other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2217

    MIL OSI Economics

  • MIL-OSI: Finnvera Group’s Report of the Board of Directors and Financial Statements 2024 – Level of financing reduced from previous year, expectations of future demand positive – Result EUR 228 million

    Source: GlobeNewswire (MIL-OSI)

    Finnvera Group, Stock Exchange Release, 21 February 2025

    Finnvera Group’s Report of the Board of Directors and Financial Statements 2024

    Level of financing reduced from previous year, expectations of future demand positive – Result EUR 228 million

    Finnvera Group, summary 2024 (vs. 2023)

    • Result 228 MEUR (433) – The result for the period under review was strong for all business operations. Net interest income grew by 20% and net fee and commission income by 12%. During the period under review, Finnvera was able to partially reverse loss provisions for export credit guarantees and special guarantees, which have had a significant impact on the company’s result in recent years, especially those relating to cruise shipping companies. The reference period saw larger reversals of loss provisions than the period under review.
    • Result by business operations: Result of parent company Finnvera plc’s SME and midcap business stood at 23 MEUR (55) and that of Large Corporates business at 173 MEUR (351). The impact of Finnvera’s subsidiary, Finnish Export Credit Ltd, on the Group’s result was 32 MEUR (27).
    • The cumulative self-sustainability target set for Finnvera’s operations was achieved.
    • The balance sheet total EUR 14.8 bn (14.3) increased by 3%.
    • Contingent liabilities decreased by 9% and stood at EUR 14.9 bn (16.4).
    • Non-restricted equity and the assets of the State Guarantee Fund, which provide the Group’s reserves for covering potential future losses, increased by 12% and totalled EUR 2.1 bn (1.9).
    • Expected credit losses on the balance sheet were reduced by 4% to EUR 1.1 bn (1.2).
    • The NPS index (Net Promoter Score) used to measure client satisfaction improved by 15 points to 79 (64).
    • Outlook for 2025: The business outlook for cruise shipping companies continued to improve in 2024. The credit loss risk of export financing liabilities remains high, however, which causes uncertainty concerning the Finnvera Group’s financial performance in 2025.
    Finnvera Group, year 2024 (vs. 2023)
    Result
    228 MEUR
    (433), change -47%
    Balance sheet total
    EUR 14.8 bn
    (14.3), change 3%
    Contingent liabilities
    EUR 14.9 bn
    (16.4), change -9%
    Non-restricted equity and
    the assets of The State Guarantee Fund
    EUR 2.1 bn (1.9), change 12%
    Expense-income ratio
    17.3%
    (19.4), change -2,1 pp
    NPS index
    (net promoter score)
    79
    (64), change 15 points

    Comments from CEO Juuso Heinilä: 

    “Year 2024 was challenging for the Finnish economy, even if a cautious improvement could be observed in the early part of the year. Finland’s key export markets were also affected by a downturn, which dampened Finnish export companies’ prospects. While interest rates dropped and inflation decreased, geopolitical uncertainty persisted.

    Finnvera granted EUR 0.9 billion (1.8) in domestic loans and guarantees in 2024. The significant decrease in financing from the previous year is due to a major individual amount of working capital financing granted to a large corporate in the reference period. The level of SME and midcap financing was similar to the reference period. The largest share of funding by sector was granted to industry, and the regional drivers were the Helsinki Metropolitan Area and Lapland. Financing for investments did not reach the previous year’s level. The level of financing for corporate acquisitions and transfers of ownership was also lower than in previous years.

    A total of EUR 73 million (36) was granted in climate and digitalisation loans intended for green transition and digitalisation projects under the InvestEU guarantee programme. These loans were first granted in June 2023. To ensure that companies of all sizes have access to financing, we launched loans for micro-enterprises’ growth as a pilot project at the beginning of October 2024. Over three months, EUR 6 million in these loans was granted to micro-enterprises. The pilot project will continue until the end of March 2025, after which we will reassess the availability of financing for small companies.

    In accordance with Finnvera’s strategy, 92% of domestic financing was allocated to start-ups, SMEs seeking growth and internationalisation, investments, transfers of ownership, export and delivery projects, and SME guarantee projects. The long period of economic uncertainty eroded SMEs’ liquidity and increased the number of applications for corporate restructuring and bankruptcy.

    Finnvera granted export credit guarantees, export guarantees and special guarantees amounting to EUR 2.9 billion (5.4). The lower amount of export financing reflected the post-cyclical nature of Finnish exports and reduced demand for exports. Annual fluctuations are also always influenced by the timing of large individual export transactions. In particular, financing was granted to companies in the telecommunications, cruise shipping and mining sectors.

    Largest export credit guarantee agreement related to telecommunications sector in Finnvera’s history was signed in April concerning Nokia’s deliveries for the Indian 5G network worth USD 1.5 billion. In the mining sector, we financed Sibanye-Stillwater’s Keliber lithium project with a Finance Guarantee, which can be granted for domestic investments that support exports. In the energy sector, we financed Wärtsilä’s deliveries of energy storage systems for solar and wind power projects in the United States and Chile. These mining and energy projects, whose total value was approx. EUR 500 million, were the first export financing projects compliant with Finnvera’s climate criteria. Towards the end of the year, Finnvera participated in Meyer Turku’s construction financing that amounted to around EUR 1 billion for the Icon 3 ship.

    Finnish Export Credit Ltd, which is Finnvera’s subsidiary, granted EUR 0.6 billion in export credits (0.5) in 2024. While the demand for export credits increased slightly, it remains significantly lower than in pre-pandemic years. An increasing number of export transactions are financed by a bank to which Finnvera grants a guarantee.

    2024 was a successful year for Finnvera. The Finnvera Group’s result was EUR 228 million (433). The SME and midcap business, export credit guarantee and special guarantee operations, and subsidiary Finnish Export Credit Ltd turned a profit. Finnvera also built up its reserves for possible future losses. The business outlook for the cruise shipping sector, which is important for Finnvera’s export credit guarantee exposure, has continued to improve. Repayments have also helped to reduce exposure relating to Russia. In recent years, Finnvera has been able to partially reverse loss provisions for export financing, which have had a significant impact on the Group’s financial performance since 2020. The reversal of loss provisions has especially impacted the good results for the last two financial periods.

    As a result of crises affecting the global economy, the difficulties faced by some companies around the world and in various sectors have built up to form an insurmountable obstacle. During the period under review, Finnvera incurred major export credit guarantee losses in two cases. Our mission is to bear the risks of export companies. Our core business enjoys a high level of profitability, building up our reserves and creating preconditions for enabling companies’ growth and exports. However, the credit loss risks of exposure relating to export financing remain high, which may affect Finnvera’s future financial performance and reserves.

    We continued to develop our operations and services in line with our strategy in 2024. The ongoing upgrade of our basic information systems supports the digitalisation of services and a good client experience. Our client satisfaction reached an exceptionally high level, as did our personnel satisfaction. We invested in accelerating the growth of midcap enterprises in close cooperation with the European Investment Bank and the Tesi Group, and worked together with the Team Finland network and Business Finland to promote exports. We maintained export financing expertise, especially in SMEs and midcap enterprises, and we brought out new export financing instruments to ensure the availability of financing. The overhaul of the legislation applicable to Finnvera, which is included in the Government Programme and which is extremely important in terms of developing Finnvera’s operations and the competitiveness of export financing, was circulated for comments.

    We advanced our sustainability measures based on our goals in 2024. We joined the Net-Zero ECA Alliance of export credit agencies, which enables us to focus on the sustainability theme and enhance our impact through international cooperation. We developed Finnvera’s sustainability reporting as planned.

    In 2025–2028, our new strategy adopted by the company’s Board of Directors at the end of the year will emphasise increasing the volume of Finnish exports and the number of exporters as well as enabling growth and new business. The achievement of these goals will be supported by our competent personnel and management as well as client-oriented digitalisation. Finnvera contributes to ensuring that Finnish companies are able to invest, develop their products and get their products out around the world. This is a prerequisite for ensuring that we can continue to look after our welfare in Finland in the future.”

    Finnvera Group Financing granted, EUR bn 2024 2023 Change, %
    Domestic loans and guarantees 0.9 1.8 -51%
    Export credit guarantees, export guarantees and special guarantees 2.9 5.4 -47%
    Export credits 0.6 0.5 15%
    The fluctuation in the amount of granted financing is influenced by the timing of individual major financing cases.

    The credit risk for the subsidiary Finnish Export Credit Ltd’s export credits is covered by the parent company Finnvera plc’s export credit guarantee.

    Exposure, EUR bn 31 Dec 2024 31 Dec 2023 Change, %
    Domestic loans and guarantees 2.9 3.0 -4%
    Export credit guarantees, export guarantees and special guarantees 21.1 23.4 -10%
    – Drawn exposure 14.3 14.2 1%
    – Undrawn exposure 4.4 4.5 -2%
    – Binding offers 2.4 4.7 -49%
    Parent company’s total exposure 24.0 26.4 -9%
    Contract portfolio of export credits 10.2 11.0 -8%
    – Drawn exposure 6.5 7.3 -11%
    – Undrawn exposure 3.7 3.7 -2%
    The exposure includes binding credit commitments as well as recovery and guarantee receivables.

    Financial performance 

    The Finnvera Group’s result for 2024 was EUR 228 million (433). Finnvera’s result was strong for all business operations. EUR 46 million of the total result was generated in the last quarter of the year, and EUR 182 million between January and September. Compared to the year before, the result was most significantly affected by the changes in the amount of expected losses, or loss provisions. Loss provisions have had a significant impact on the Group’s result in recent years. Finnvera was able to partially reverse its loss provisions for export credit guarantees and special guarantees in 2024, especially those relating to cruise shipping companies. In the reference period, Finnvera was able to reverse more loss provisions than in the review period, which led to an exceptionally good result in 2023. The result for the review period was also significantly affected by higher net interest income and fee and commission income as well as changes in the value of items recognised at fair value through profit or loss.

    The Group’s realised credit losses and change in expected losses totalled EUR 49 million during the review period, whereas the corresponding item was positive with a value of EUR 210 million during the reference period. The realised credit losses of EUR 121 million (128) were slightly lower than in the reference period. During the period under review, two larger individual export credit guarantee compensations were paid. Expected losses, or loss provisions, decreased by EUR 51 million (320), of which the reversal of loss provisions for export credit guarantee and special guarantee operations accounted for EUR 74 million (376). Credit loss compensation from the State covering losses in domestic financing totalled EUR 20 million (18).

    Compared to the year before, the Group’s net interest income increased by 20% to EUR 139 million (115) and net fee and commission income by 12% to EUR 198 million (177). The higher level of market interest rates was a particularly important factor affecting the increased net interest income. The most significant factors increasing the net fee and commission income were recognition of guarantee premiums for reimbursed export and special guarantees and prepayments of individual liabilities as well as the reimbursement of insurance premiums received as a result of the cancellation of reinsurance contracts. The changes in the Group’s value of items recognised at fair value through profit or loss and net income from foreign currency operations amounted to EUR 8 million (-9).

    After the result of the period under review, the parent company’s reserves for domestic operations as well as export credit guarantee and special guarantee operations for covering potential future losses amounted to a total of EUR 1,878 million (1,676) at the end of December. These reserves, which also cover the credit risk of export credits granted by the subsidiary, consisted of the following: the reserve for domestic operations, EUR 432 million (405) as well as the reserve for export credit guarantees and special guarantees and the assets of the State Guarantee Fund for covering losses, totalling EUR 1,446 million (1,272). The State Guarantee Fund is an off-budget fund whose assets include the assets accumulated from the activities of Finnvera’s predecessor organisations. Under the Act on the State Guarantee Fund, the Fund covers the result showing a loss in the export credit guarantee and special guarantee operations if the reserve funds in the company’s balance sheet are not sufficient. The non-restricted equity of the subsidiary, Finnish Export Credit Ltd, amounted to EUR 230 million (198) at the end of December.

    Finnvera Group
    Financial performance
    2024
    MEUR
    2023
    MEUR
    Change
    %
    Q4/2024
    MEUR
    Q4/2023
    MEUR
    Change
    %
    Net interest income 139 115 20% 37 33 10%
    Net fee and commission income 198 177 12% 50 40 24%
    Gains and losses from financial instruments carried at fair value through P&L and foreign exchange gains and losses 8 -9 -2 -5 -54%
    Net income from investments and other operating income 0 1 -95% 0 0 -23%
    Operational expenses -53 -50 6% -16 -14 12%
    Other operating expenses, depreciation and amortisation -7 -5 35% -3 -1 118%
    Realised credit losses and change in expected credit losses, net -49 210 -19 209
    Operating result 236 439 -46% 47 262 -82%
    Income tax -8 -6 45% -1 -1 4%
    Result 228 433 -47% 46 261 -82%

    Outlook for financing 

    The worst of the recession is behind us, and the Finnish economy is forecast to start growing in 2025. Great expectations are currently placed on the improved outlook for exports as well as the growth and renewal of the entire business sector.

    We expect that the demand for Finnvera’s domestic financing will increase, including more and more financing for investments, as the economic upturn drives a need for more production capacity. Due to the long-standing uncertainty, the economic position of many companies is weak. Finnvera’s role is stressed in arranging financing and sharing the risk with other providers of financing.

    We encourage companies to grasp the growth opportunities created by the green transition with the help of our climate and digitalisation loans and other incentives for sustainable financing. We will continue piloting loans for micro-enterprises’ growth projects until the end of March 2025. While we expect the high demand for the loans to continue, we will reassess small companies’ access to financing after the conclusion of the pilot. Finnvera strives to be active wherever our input is needed to arrange access to financing.

    We expect that the demand for export credit guarantees will start growing in 2025 and that this growth will continue in 2026. Exportation of investment goods, which is vital for Finland’s exports, is post-cyclical and the increase in demand will be reflected in export credit guarantees granted by Finnvera with a delay. Positive signs can already be seen in several sectors, however. Finnvera plays an important role in granting guarantees for long-term trade. We encourage export companies to seek growth in emerging and new markets and to rely on Finnvera for financing export transactions and risk hedging. We will continue to grant export credit guarantees to Ukraine as part of Finland’s national reconstruction programme for the country.

    Finnvera, the Tesi Group and Business Finland will step up their cooperation with the goal of boosting companies’ growth, exports, and the impact of financing. We will continue to work actively together with Team Finland and promote the growth and internationalisation of companies, also while the renewal of public export functions is underway. Finnvera’s Trade Facilitators strive to bring together foreign buyers and Finnish exporters and to promote trade using Finnvera’s export financing together with Business Finland. The aims also include increasing the number of midcap enterprises in Finland.

    Outlook for 2025

    The business outlook for cruise shipping companies continued to improve in 2024. The credit loss risk of export financing liabilities remains high, however, which causes uncertainty concerning the Finnvera Group’s financial performance in 2025.

    Further information:

    Juuso Heinilä, CEO, tel. +358 29 460 2576

    Ulla Hagman, CFO, tel. +358 29 460 2458

    Finnvera publishes the Report of the Board of Directors and its financial statements as an XHTML file compliant with the European Single Electronic Format (ESEF) requirements. Auditor Ernst & Young Ltd has issued an independent assurance report that provides reasonable assurance concerning Finnvera’s ESEF financial statements. The XHTML file is available in Finnish and English. Finnvera additionally publishes the report and financial statements in PDF format.

    ESEF Report 2024 (ZIP)

    Finnvera Group’s Report of the Board of Directors and Financial Statements 1 January – 31 December 2024 (PDF)

    Distribution: NASDAQ Helsinki Ltd, London Stock Exchange, key media, www.finnvera.fi

    The report is available in Finnish and English at www.finnvera.fi/financial_reports

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    The MIL Network

  • MIL-OSI Economics: RBI retains Advisory Committee of Aviom India Housing Finance Private Limited

    Source: Reserve Bank of India

    It may be recalled that, in exercise of powers conferred under Section 45-IE (5) (a) of the RBI Act, 1934, the Reserve Bank had, on January 30, 2025, constituted a three-member Advisory Committee to assist Shri Ram Kumar, Administrator of Aviom India Housing Finance Private Limited (AVIOM) in discharge of his duties. The members of the Committee are:

    1. Shri Paritosh Tripathi, ex-CGM, State Bank of India

    2. Shri Rajneesh Sharma, ex-CGM, Bank of Baroda

    3. Shri Sanjaya Gupta, ex-MD & CEO, PNB Housing Finance Limited

    Upon admission of the petition for insolvency resolution process by the New Delhi Bench of the Hon’ble National Company Law Tribunal in respect of AVIOM vide order dated February 20, 2025, the Reserve Bank has decided that the above mentioned three-member Committee shall continue as the Advisory Committee under Rule 5 (c) of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The Advisory Committee shall advise the Administrator in the operations of AVIOM during the Corporate Insolvency Resolution Process.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2216

    MIL OSI Economics