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Category: India

  • MIL-OSI Global: Autocrats and cities: how capitals have become a battleground for protest and control

    Source: The Conversation – Africa – By David Jackman, Departmental Lecturer in Development Studies, University of Oxford

    Prime Minister Sheikh Hasina, the world’s longest reigning female political leader, fled Bangladesh on 5 August 2024 for the safety of India. Meanwhile, hundreds of thousands of protesters descended on Bangladesh’s capital city, Dhaka. The crowds ransacked her official residence, occupied the nation’s parliament and burnt down her family home.

    Hasina, who had ruled the country for more than 20 years in total, had been widely accused of turning autocratic and clamping down severely on any opposition to her rule.

    For many, the Bangladesh revolution offers hope in the context of growing global authoritarianism. It illustrates the power of the youth to confront entrenched leaders, and the fragility of authoritarianism. It also highlights a striking feature of contemporary global politics: how central capital cities are to the political life of nations.

    In our new book, Controlling the Capital: Political Dominance in the Urbanizing World, a diverse range of scholars argue that capital cities are crucial political sites. They’re where governing elites seek to assert and maintain political control, and they are also stages for political contestation.

    The book is focused on sub-Saharan Africa and South Asia, the two fastest-urbanising regions of the world.

    Authors explore the strategies and tactics used by ruling elites to politically dominate their capital cities in Bangladesh, Ethiopia, Sri Lanka, Uganda, Zambia and Zimbabwe.

    The authors also consider how urban populations have engaged with these efforts. People may resist authority, but they can also cooperate with it in ways that benefit themselves – which sometimes reinforces or supports authoritarian control.

    This is increasingly important in the context of two contemporary trends. First, authoritarianism is growing globally. Just 10 years ago under half of the world’s population lived under authoritarian rule; now the figure is at 71%. The second trend is the ongoing rapid urbanisation of the world’s population, with the majority of us globally now living in urban areas.

    Urban unrest

    Over the past year we’ve seen how capital cities are spaces for contestation.

    Some pro-democracy movements draw from their own histories of struggle and the paths that have been carved by those before them. The template of Bangladesh’s 2024 revolution is ingrained in politics from the ways in which liberation was fought and how later struggles against authoritarian rule were won. The capital city has also been crucial, and students at Dhaka University were key mobilisers in such movements.

    In other contexts, the link between political resistance and urban areas is a relatively new and surprising route to political change. One example is “the struggle” seen in Sri Lanka’s capital Colombo and the unseating of the Rajapaksa family, who were perceived as increasingly authoritarian rulers of the country. The Colombo chapter in this volume highlights how such protests emerged in a context where urban unrest had rarely threatened those in power before.

    Even where anti-authoritarian protests have proved futile time and again, urban populations rarely remain quiet.

    In Kampala, Uganda, demonstrations prior to the 2021 elections resulted in a horrifying government crackdown. Inspired by events in neighbouring Kenya, protesters took to the streets once more in July 2024 to demonstrate against corruption.



    Read more:
    Kenya’s protests happened in every major urban centre – why these spaces are explosive

    The protests that erupted in Nairobi from late June 2024 against tax rises engulfed the capital city. They continued for some time, fuelled by the brutal police response. Similarly, Nigeria’s 2020 #EndSARS protests against police brutality created a powerful movement in cities such as Abuja and Lagos which shook government, and resonated across much of the continent.

    In an age of social media, learning and mimicry across national borders is increasingly common. One of the defining images of Kenya’s 2024 urban uprising was of a group of men with their arms raised and crossed at the wrists – a gesture of anti-authoritarian protest that gained particular resonance several years back during neighbouring Ethiopia’s own uprising.

    As urban protest seems set to continue and spread – often taking intentionally similar forms – techniques of urban authoritarian control are more varied and complex.

    Strategies to dominate and control city populations can be dramatic and repressive – such as the brute force of police violence – and they can also be subtle, deeply ingrained, and sometimes difficult to discern.

    Authoritarian tactics

    Our book argues that authoritarian leaders are increasingly aware of the power of the urban masses. As a result, they are using a range of subtle, and not-so-subtle, tactics to entrench their domination in capital cities.

    We broadly described two types of interventions that elites use.

    The first are policies and favours that actively build support among urban groups. These can range from inclusion in political parties to investments in social provisions or infrastructure to win support. The book’s chapter on Addis Ababa shows how the latter were particularly striking under the previous governing regime in Ethiopia.

    The second are repressive interventions that aim to crush opposition. These are also diverse, and include violent crackdowns, but also surveillance and intimidation.

    In practice, the two types of interventions often overlap. The line also blurs through various forms of manipulation. For instance, misinformation or the delivery of goods in exchange for performances of political loyalty, underpinned by implicit threats of coercion.

    We also highlight the significance of urban geography.

    Ruling elites often seek to divide city populations (for example inner-city dwellers versus the peripheries). This is evident in our book’s chapter on Colombo, Sri Lanka. The Rajapaksas tried to consolidate power by appealing to the new middle class suburbanites through “beautification” projects. But these displaced and excluded the inner-city poor.

    Chapters on Harare and Kampala also show how particular peripheral areas have become central to efforts to build an urban support base by Zanu-PF and the National Resistance Movement. This often plays out through the informal parcelling out of land to supporters.

    Contesting autocratic rule

    Concerns about authoritarian politics are at an all-time high.

    The above Google Ngram highlights the perilous rise in the use of the term “autocratization” in published work over the past decade.

    Meanwhile, the contestation of autocratic rule will continue to erupt in cities, especially in rapidly urbanising parts of the world. In this context, the need to understand how autocracy and urbanisation collide could hardly be more important.

    If pro-democracy forces are to have any hope of prevailing against efforts by authoritarian ruling elites to entrench their position, there is a crucial need to better understand their urban strategies and tactics.

    David Jackman received funding from the Leverhulme Trust.

    Tom Goodfellow is currently a Senior Research Fellow at the Foreign, Commonwealth and Development Office, which funded part of the research on which this book is based.

    – ref. Autocrats and cities: how capitals have become a battleground for protest and control – https://theconversation.com/autocrats-and-cities-how-capitals-have-become-a-battleground-for-protest-and-control-240377

    MIL OSI – Global Reports –

  • MIL-OSI Banking: Apple’s new Mac mini is more mighty, more mini, and built for Apple Intelligence

    Source: Apple

    Headline: Apple’s new Mac mini is more mighty, more mini, and built for Apple Intelligence

    October 29, 2024

    PRESS RELEASE

    Apple’s all-new Mac mini is more mighty, more mini, and built for Apple Intelligence

    The compact, do-it-all desktop now features the power of M4 and M4 Pro, and marks an important environmental milestone as the first carbon neutral Mac

    CUPERTINO, CALIFORNIA Apple today unveiled the all-new Mac mini powered by the M4 and new M4 Pro chips, and redesigned around Apple silicon to pack an incredible amount of performance into an even smaller form of just 5 by 5 inches. With M4, Mac mini delivers up to 1.8x faster CPU performance and 2.2x faster GPU performance over the M1 model.1 With M4 Pro, it takes the advanced technologies in M4 and scales them up to tackle even more demanding workloads. For more convenient connectivity, it features front and back ports, and for the first time includes Thunderbolt 5 for faster data transfer speeds on the M4 Pro model. The new Mac mini is also built for Apple Intelligence, the personal intelligence system that transforms how users work, communicate, and express themselves while protecting their privacy. And marking an important environmental milestone, Mac mini is Apple’s first carbon neutral Mac with an over 80 percent reduction in greenhouse gas emissions across its materials, manufacturing, transportation, and customer use.2 Starting at just $599 with 16GB of memory, the new Mac mini is available to pre-order today, with availability beginning November 8.

    “The new Mac mini delivers gigantic performance in an unbelievably small design thanks to the power efficiency of Apple silicon and an innovative new thermal architecture,” said John Ternus, Apple’s senior vice president of Hardware Engineering. “Combined with the performance of M4 and the new M4 Pro chip, enhanced connectivity on both the front and back, and the arrival of Apple Intelligence, Mac mini is more capable and versatile than ever, and there is nothing else like it.”

    Small, but Fierce

    The new Mac mini footprint is less than half the size of the previous design at just 5 by 5 inches, so it takes up much less space on a desk. The super-compact system is enabled by the incredible power efficiency of Apple silicon and an innovative thermal architecture, which guides air to different levels of the system, while all venting is done through the foot.

    When compared to the best-selling PC desktop in its price range, Mac mini is up to 6x faster at one-twentieth the size.1 For a wide range of users, from students to aspiring creatives and small business owners, the Mac mini with M4 is a tiny powerhouse. Mac mini with M4 features a 10-core CPU, 10-core GPU, and now starts with 16GB of unified memory. Users will feel the performance of M4 in everything they do, from multitasking across everyday productivity apps to creative projects like video editing, music production, or writing and compiling code.

    When compared to the Mac mini with Intel Core i7, Mac mini with M4:

    • Applies up to 2.8x more audio effect plugins in a Logic Pro project.1
    • Delivers up to 13.3x faster gaming performance in World of Warcraft: The War Within.1
    • Enhances photos with up to 33x faster image upscaling performance in Photomator.3

    When compared to the Mac mini with M1, Mac mini with M4:

    • Performs spreadsheet calculations up to 1.7x faster in Microsoft Excel.1
    • Transcribes with on-device AI speech-to-text up to 2x faster in MacWhisper.1
    • Merges panoramic images up to 4.9x faster in Adobe Lightroom Classic.4

    Introducing M4 Pro for Pro-Level Performance 

    For users who want pro-level performance, Mac mini with M4 Pro features the world’s fastest CPU core5 with lightning-fast single-threaded performance. With up to 14 cores, including 10 performance cores and four efficiency cores, M4 Pro also provides phenomenal multithreaded performance. With up to 20 cores, the M4 Pro GPU is up to twice as powerful as the GPU in M4, and both chips bring hardware-accelerated ray tracing to the Mac mini for the first time. The Neural Engine in M4 Pro is also over 3x faster than in Mac mini with M1, so on-device Apple Intelligence models run at blazing speed. M4 Pro supports up to 64GB of unified memory and 273GB/s of memory bandwidth — twice as much bandwidth as any AI PC chip — for accelerating AI workloads. And M4 Pro supports Thunderbolt 5, which delivers up to 120 Gb/s data transfer speeds on Mac mini, and more than doubles the throughput of Thunderbolt 4.

    When compared to the Mac mini with Intel Core i7, Mac mini with M4 Pro:

    • Performs spreadsheet calculations up to 4x faster in Microsoft Excel.1
    • Executes scene-edit detection up to 9.4x faster in Adobe Premiere Pro.3
    • Transcribes with on-device AI speech-to-text up to 20x faster in MacWhisper.1
    • Processes basecalling for DNA sequencing in Oxford Nanopore MinKNOW up to 26x faster.1

    When compared to the Mac mini with M2 Pro, Mac mini with M4 Pro:

    • Applies up to 1.8x more audio effect plugins in a Logic Pro project.1
    • Renders motion graphics to RAM up to 2x faster in Motion.6
    • Completes 3D renders up to 2.9x faster in Blender.6

    Upgraded Connectivity and Display Support 

    The new Mac mini features a wide array of ports to drive any setup. It includes front-facing ports for more convenient access, including two USB-C ports that support USB 3, and an audio jack with support for high-impedance headphones. On the back, Mac mini with M4 includes three Thunderbolt 4 ports, while Mac mini with M4 Pro features three Thunderbolt 5 ports. Mac mini comes standard with Gigabit Ethernet, configurable up to 10Gb Ethernet for faster networking speeds, and an HDMI port for easy connection to a TV or HDMI display without an adapter. With M4, Mac mini can support up to two 6K displays and up to one 5K display, and with M4 Pro, it can support up to three 6K displays at 60Hz for a total of over 60 million pixels.

    A New Era with Apple Intelligence on the Mac

    Apple Intelligence ushers in a new era for the Mac, bringing personal intelligence to the personal computer. Combining powerful generative models with industry-first privacy protections, Apple Intelligence harnesses the power of Apple silicon and the Neural Engine to unlock new ways for users to work, communicate, and express themselves on Mac. It is available in U.S. English with macOS Sequoia 15.1. With systemwide Writing Tools, users can refine their words by rewriting, proofreading, and summarizing text nearly everywhere they write. With the newly redesigned Siri, users can move fluidly between spoken and typed requests to accelerate tasks throughout their day, and Siri can answer thousands of questions about Mac and other Apple products. New Apple Intelligence features will be available in December, with additional capabilities rolling out in the coming months. Image Playground gives users a new way to create fun original images, and Genmoji allows them to create custom emoji in seconds. Siri will become even more capable, with the ability to take actions across the system and draw on a user’s personal context to deliver intelligence that is tailored to them. In December, ChatGPT will be integrated into Siri and Writing Tools, allowing users to access its expertise without needing to jump between tools.

    Apple Intelligence does all this while protecting users’ privacy at every step. At its core is on-device processing, and for more complex tasks, Private Cloud Compute gives users access to Apple’s even larger, server-based models and offers groundbreaking protections for personal information. In addition, users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. For those who choose to connect their account, OpenAI’s data-use policies apply.

    The First Carbon Neutral Mac 

    The new Mac mini is Apple’s first carbon neutral Mac, marking a significant milestone toward Apple 2030, the company’s goal to be carbon neutral across the entire carbon footprint by the end of this decade.

    Mac mini is made with over 50 percent recycled content overall, including 100 percent recycled aluminum in the enclosure, 100 percent recycled gold plating in all Apple-designed printed circuit boards, and 100 percent recycled rare earth elements in all magnets. The electricity used to manufacture Mac mini is sourced from 100 percent renewable electricity. And, to address 100 percent of the electricity customers use to power Mac mini, Apple has invested in clean energy projects around the world. Apple has also prioritized lower-carbon modes of shipping, like ocean freight, to further reduce emissions from transportation. Together, these actions have reduced the carbon footprint of Mac mini by over 80 percent.2 For the small amount of remaining emissions, Apple applies high-quality carbon credits from nature-based projects, like those generated by its innovative Restore Fund.

    In another first for Mac mini, the packaging is now entirely fiber-based, bringing Apple closer to its goal to remove plastic from its packaging by 2025.

    An Unrivaled Experience with macOS Sequoia

    macOS Sequoia completes the new Mac mini experience with a host of exciting features, including iPhone Mirroring, allowing users to wirelessly interact with their iPhone, its apps, and notifications directly from their Mac.7 Safari, the world’s fastest browser,8 now offers the Highlights feature, which quickly pulls up relevant information from a site; a smarter, redesigned Reader with a table of contents and high-level summary; and a new Video Viewer to watch videos without distractions. With Distraction Control, users can hide items on a webpage that they may find disruptive to their browsing. Gaming gets even more immersive with features like Personalized Spatial Audio and improvements to Game Mode, along with a breadth of exciting titles, including the upcoming Assassin’s Creed Shadows. Easier window tiling means users can stay organized with a window layout that works best for them. The all-new Passwords app gives convenient access to passwords, passkeys, and other credentials — all stored in one place. And users can apply new, beautiful built-in backgrounds for video calls, which include a variety of color gradients and system wallpapers, or upload their own photos.

    Pricing and Availability

    • Customers can pre-order the new Mac mini with M4 and M4 Pro starting today, Tuesday, October 29, on apple.com/store and in the Apple Store app in 28 countries and regions, including the U.S. It will start arriving to customers, and in Apple Store locations and Apple Authorized Resellers, beginning Friday, November 8.
    • Mac mini with M4 starts at $599 (U.S.) and $499 (U.S.) for education. Additional technical specifications are available at apple.com/mac-mini.
    • Mac mini with M4 Pro starts at $1,399 (U.S.) and $1,299 (U.S.) for education. Additional technical specifications are available at apple.com/mac-mini.
    • New accessories with USB-C — including Magic Keyboard ($99 U.S.), Magic Keyboard with Touch ID ($149 U.S.), Magic Keyboard with Touch ID and Numeric Keypad ($179 U.S.), Magic Trackpad ($129 U.S.), Magic Mouse ($79 U.S.), and Thunderbolt 5 Pro Cable ($69) — are available at apple.com/store.
    • Apple Intelligence is available now as a free software update for Mac with M1 and later, and can be accessed in most regions around the world when the device and Siri language are set to U.S. English. The first set of features is in beta and available with macOS Sequoia 15.1, with more features rolling out in the months to come.
    • Apple Intelligence is quickly adding support for more languages. In December, Apple Intelligence will add support for localized English in Australia, Canada, Ireland, New Zealand, South Africa, and the U.K., and in April, a software update will deliver expanded language support, with more coming throughout the year. Chinese, English (India), English (Singapore), French, German, Italian, Japanese, Korean, Portuguese, Spanish, Vietnamese, and other languages will be supported.
    • With Apple Trade In, customers can trade in their current computer and get credit toward a new Mac. Customers can visit apple.com/shop/trade-in to see what their device is worth.
    • AppleCare+ for Mac provides unparalleled service and support. This includes unlimited incidents of accidental damage, battery service coverage, and 24/7 support from the people who know Mac best.
    • Every customer who buys directly from Apple Retail gets access to Personal Setup. In these guided online sessions, a Specialist can walk them through setup, or focus on features that help them make the most of their new device. Customers can also learn more about getting started with their new device with a Today at Apple session at their nearest Apple Store.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Testing was conducted by Apple in September and October 2024. See apple.com/mac-mini for more information.
    2. Carbon reductions are calculated against a business-as-usual baseline scenario: No use of clean electricity for manufacturing or product use, beyond what is already available on the latest modeled grid; Apple’s carbon intensity of key materials as of 2015; and Apple’s average mix of transportation modes by product line across three years. Learn more at apple.com/2030.
    3. Results are compared to previous-generation 3.2GHz 6-core Intel Core i7-based Mac mini systems with Intel Iris UHD Graphics 630, 64GB of RAM, and 2TB SSD.
    4. Results are compared to previous-generation Mac mini systems with Apple M1, 8-core CPU, 8-core GPU, 16GB of RAM, and 2TB SSD.
    5. Testing conducted by Apple in October 2024 using shipping competitive systems and select industry-standard benchmarks.
    6. Results are compared to previous-generation Mac mini systems with Apple M2 Pro, 12-core CPU, 19-core GPU, 32GB of RAM, and 8TB SSD.
    7. Available on Mac computers with Apple silicon and Intel-based Mac computers with a T2 Security Chip. Requires that iPhone and Mac are signed in with the same Apple Account using two-factor authentication, iPhone and Mac are near each other and have Bluetooth and Wi-Fi turned on, and Mac is not using AirPlay or Sidecar. Some iPhone features (e.g., camera and microphone) are not compatible with iPhone Mirroring.
    8. Testing was conducted by Apple in August 2024. See apple.com/safari for more information.

    Press Contacts

    Michelle Del Rio

    Apple

    mr_delrio@apple.com

    Starlayne Meza

    Apple

    starlayne_meza@apple.com

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Global Banks –

  • MIL-OSI Security: Man Pleads Guilty and is Sentenced for Exposing Himself on an Aircraft

    Source: Office of United States Attorneys

    BOSTON – An Indian man, arrested last week for masturbating and exposing himself on a flight within the view of two other passengers, has pleaded guilty and was sentenced.

    Krishna Kunapuli, 39, pleaded guilty on Oct. 24, 2024 to one count of committing lewd, indecent, or obscene acts on an aircraft. Kunapuli was also sentenced by U.S. Magistrate Judge David H. Hennessy to two years of probation and a $5,000 fine. He was also ordered to delete, in the presence of law enforcement, photographs that he took of a female passenger during the flight and to have no contact with her.  

    According to the charging documents, Kunapuli made unwanted sexual advances towards a female passenger on board a flight from Abu Dhabi to Boston, including touching her hair and taking pictures of her without her permission.  After a crew member intervened, Kunapuli returned to his seat.

    Later in the flight, two male passengers seated near Kunapuli noticed Kunapuli masturbating under a blanket and, at times, with his penis fully exposed. One of the passengers reported this conduct to a flight attendant, who intervened, and alerted law enforcement.

    Acting United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Colonel Geoffrey D. Noble of the Massachusetts State Police made the announcement today. Assistant U.S. Attorney Elianna J. Nuzum of the Major Crimes Unit prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: Midwest Manufacturer To Pay Over $3.6 Million To Resolve Allegations It Received Paycheck Protection Program Loan In Violation Of Employee Size Rules

    Source: Office of United States Attorneys

              GRAND RAPIDS – U.S. Attorney for the Western District of Michigan Mark Totten today announced that Exo-s US LLC, a manufacturing company with plants and offices located in Coldwater, Michigan, and Howe, Indiana, has agreed to pay $3,628,819.44 to resolve allegations that it violated the False Claims Act by falsely obtaining a Paycheck Protection Program (PPP) loan for which it was ineligible.

              “The Paycheck Protection Program provided important relief to eligible small businesses and other entities,” said U.S. Attorney Mark Totten. “Today’s resolution demonstrates our continued commitment to work with the Small Business Administration to protect taxpayer dollars and investigate allegations of fraud on critical government programs.”

              When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 and the American Rescue Plan Act (ARPA) in 2021, it enacted a program to provide emergency financial assistance to individuals and businesses suffering economic and public health effects caused by the COVID-19 pandemic. ARPA continued the CARES Act’s PPP loan program administered by the Small Business Administration (SBA), creating a second-draw PPP loan that allowed eligible businesses that had previously received a PPP loan to apply for a second loan.  One of the eligibility requirements for receiving this second-draw loan was that the applicant had no more than 300 employees, including employees of affiliated entities.

              In March 2021, Exo-s US LLC obtained a second-draw PPP loan, which the SBA subsequently forgave. The United States alleges that the company was not eligible for this loan because Exo-s US LLC and its affiliates had more than 300 employees.

              “The favorable settlement in this case is the product of enhanced efforts by federal agencies such as the Small Business Administration working with the U.S. Attorney’s Office, other federal law enforcement agencies, as well as financial institutions or private individuals who uncover misconduct to recover the lending program’s damages,” said Therese Meers, SBA General Counsel.

              The civil settlement includes the resolution of claims brought under the qui tam or whistleblower provisions of the False Claims Act against Exo-s US LLC. Under the qui tam provisions of the False Claims Act, a private party can file an action on behalf of the United States and receive a portion of the settlement or judgment. Here, the United States elected to take over the case, investigated it, and negotiated the settlement. The qui tam case is captioned U.S. ex rel. GNGH2 Inc. v. Exo-s US LLC, No. 1:24-cv-264 (W.D. Mich.).

              The resolution obtained in this matter was the result of a coordinated effort between the U.S. Attorney’s Office for the Western District of Michigan and the SBA. Assistant United States Attorney Andrew J. Hull investigated this case.

              The claims resolved by the settlement are allegations only and there has been no determination of liability.

    # # #

    MIL Security OSI –

  • MIL-Evening Report: Autocrats and cities: how capitals have become a battleground for protest and control

    Source: The Conversation (Au and NZ) – By David Jackman, Departmental Lecturer in Development Studies, University of Oxford

    Prime Minister Sheikh Hasina, the world’s longest reigning female political leader, fled Bangladesh on 5 August 2024 for the safety of India. Meanwhile, hundreds of thousands of protesters descended on Bangladesh’s capital city, Dhaka. The crowds ransacked her official residence, occupied the nation’s parliament and burnt down her family home.

    Hasina, who had ruled the country for more than 20 years in total, had been widely accused of turning autocratic and clamping down severely on any opposition to her rule.

    For many, the Bangladesh revolution offers hope in the context of growing global authoritarianism. It illustrates the power of the youth to confront entrenched leaders, and the fragility of authoritarianism. It also highlights a striking feature of contemporary global politics: how central capital cities are to the political life of nations.

    In our new book, Controlling the Capital: Political Dominance in the Urbanizing World, a diverse range of scholars argue that capital cities are crucial political sites. They’re where governing elites seek to assert and maintain political control, and they are also stages for political contestation.

    The book is focused on sub-Saharan Africa and South Asia, the two fastest-urbanising regions of the world.

    Authors explore the strategies and tactics used by ruling elites to politically dominate their capital cities in Bangladesh, Ethiopia, Sri Lanka, Uganda, Zambia and Zimbabwe.

    The authors also consider how urban populations have engaged with these efforts. People may resist authority, but they can also cooperate with it in ways that benefit themselves – which sometimes reinforces or supports authoritarian control.

    This is increasingly important in the context of two contemporary trends. First, authoritarianism is growing globally. Just 10 years ago under half of the world’s population lived under authoritarian rule; now the figure is at 71%. The second trend is the ongoing rapid urbanisation of the world’s population, with the majority of us globally now living in urban areas.

    Urban unrest

    Over the past year we’ve seen how capital cities are spaces for contestation.

    Some pro-democracy movements draw from their own histories of struggle and the paths that have been carved by those before them. The template of Bangladesh’s 2024 revolution is ingrained in politics from the ways in which liberation was fought and how later struggles against authoritarian rule were won. The capital city has also been crucial, and students at Dhaka University were key mobilisers in such movements.

    In other contexts, the link between political resistance and urban areas is a relatively new and surprising route to political change. One example is “the struggle” seen in Sri Lanka’s capital Colombo and the unseating of the Rajapaksa family, who were perceived as increasingly authoritarian rulers of the country. The Colombo chapter in this volume highlights how such protests emerged in a context where urban unrest had rarely threatened those in power before.

    Even where anti-authoritarian protests have proved futile time and again, urban populations rarely remain quiet.

    In Kampala, Uganda, demonstrations prior to the 2021 elections resulted in a horrifying government crackdown. Inspired by events in neighbouring Kenya, protesters took to the streets once more in July 2024 to demonstrate against corruption.



    Read more:
    Kenya’s protests happened in every major urban centre – why these spaces are explosive

    The protests that erupted in Nairobi from late June 2024 against tax rises engulfed the capital city. They continued for some time, fuelled by the brutal police response. Similarly, Nigeria’s 2020 #EndSARS protests against police brutality created a powerful movement in cities such as Abuja and Lagos which shook government, and resonated across much of the continent.

    In an age of social media, learning and mimicry across national borders is increasingly common. One of the defining images of Kenya’s 2024 urban uprising was of a group of men with their arms raised and crossed at the wrists – a gesture of anti-authoritarian protest that gained particular resonance several years back during neighbouring Ethiopia’s own uprising.

    As urban protest seems set to continue and spread – often taking intentionally similar forms – techniques of urban authoritarian control are more varied and complex.

    Strategies to dominate and control city populations can be dramatic and repressive – such as the brute force of police violence – and they can also be subtle, deeply ingrained, and sometimes difficult to discern.

    Authoritarian tactics

    Our book argues that authoritarian leaders are increasingly aware of the power of the urban masses. As a result, they are using a range of subtle, and not-so-subtle, tactics to entrench their domination in capital cities.

    We broadly described two types of interventions that elites use.

    The first are policies and favours that actively build support among urban groups. These can range from inclusion in political parties to investments in social provisions or infrastructure to win support. The book’s chapter on Addis Ababa shows how the latter were particularly striking under the previous governing regime in Ethiopia.

    The second are repressive interventions that aim to crush opposition. These are also diverse, and include violent crackdowns, but also surveillance and intimidation.

    In practice, the two types of interventions often overlap. The line also blurs through various forms of manipulation. For instance, misinformation or the delivery of goods in exchange for performances of political loyalty, underpinned by implicit threats of coercion.

    We also highlight the significance of urban geography.

    Ruling elites often seek to divide city populations (for example inner-city dwellers versus the peripheries). This is evident in our book’s chapter on Colombo, Sri Lanka. The Rajapaksas tried to consolidate power by appealing to the new middle class suburbanites through “beautification” projects. But these displaced and excluded the inner-city poor.

    Chapters on Harare and Kampala also show how particular peripheral areas have become central to efforts to build an urban support base by Zanu-PF and the National Resistance Movement. This often plays out through the informal parcelling out of land to supporters.

    Contesting autocratic rule

    Concerns about authoritarian politics are at an all-time high.

    The above Google Ngram highlights the perilous rise in the use of the term “autocratization” in published work over the past decade.

    Meanwhile, the contestation of autocratic rule will continue to erupt in cities, especially in rapidly urbanising parts of the world. In this context, the need to understand how autocracy and urbanisation collide could hardly be more important.

    If pro-democracy forces are to have any hope of prevailing against efforts by authoritarian ruling elites to entrench their position, there is a crucial need to better understand their urban strategies and tactics.

    David Jackman received funding from the Leverhulme Trust.

    Tom Goodfellow is currently a Senior Research Fellow at the Foreign, Commonwealth and Development Office, which funded part of the research on which this book is based.

    – ref. Autocrats and cities: how capitals have become a battleground for protest and control – https://theconversation.com/autocrats-and-cities-how-capitals-have-become-a-battleground-for-protest-and-control-240377

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Attorney General Labrador Joins Coalition Asking Supreme Court to Expedite Virginia Voter Registration Case

    Source: US State of Idaho

    [BOISE] – Attorney General Raúl Labrador joined attorneys general from 26 states in filing an amicus brief urging the U.S. Supreme Court to allow Virginia to remove non-citizens from its voter roll.
    “It is gravely concerning that the Biden-Harris Department of Justice and liberal activists are fighting so hard to keep non-citizens on the voting rolls, especially this close to an election,” said Attorney General Labrador.  “We cannot permit the ongoing erosion of trust in our most critical freedom, the right to vote, and I’m asking SCOTUS to intervene immediately.”
    The brief argues that a preliminary injunction that halted the state of Virginia from removing self-identified non-citizens from its rolls undermines a states’ authority to determine voter qualifications. Virginia’s law provides mechanisms to protect election integrity, while ensuring only U.S. citizens remain on voter rolls.
    “The upcoming election is hotly contested and has caused division around the country. Perhaps the division would be lower if the federal government were not interfering with the election via last-minute attacks on state efforts to police voter qualifications,” the amicus brief reads.
    The Eastern District of Virginia Court’s recent decision to temporarily stop Virginia from removing non-citizens from its rolls will result in Congress forcing a state to allow non-citizens to vote in an election over the objection of that state.
    It converts Virginia’s statute into a federal mandate that forces states to allow non-citizens to vote in an upcoming election in violation of state law and federal law itself when a non-citizen is discovered on the rolls within 90 days of an election, according to the brief.
    “Non-citizens are not eligible voters. They were not eligible voters before Congress passed the National Voter Registration Act, they were not eligible when Congress passed the NVRA, and they are not eligible today,” the amicus reads.
    In addition to Idaho and Kansas, attorneys general from 25 other states joined the brief. They include attorneys general from Alabama, Alaska, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, and Wyoming.
    Read the amicus brief here.

    MIL OSI USA News –

  • MIL-OSI: C&F Financial Corporation Announces Net Income for Third Quarter and First Nine Months

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., Oct. 29, 2024 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $5.4 million for the third quarter of 2024, compared to $5.8 million for the third quarter of 2023. The Corporation reported consolidated net income of $13.9 million for the first nine months of 2024, compared to $18.7 million for the first nine months of 2023. The following table presents selected financial performance highlights for the periods indicated:

                                     
        For The Quarter Ended     For the Nine Months Ended  
    Consolidated Financial Highlights (unaudited)   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Consolidated net income (000’s)   $ 5,420     $ 5,777     $ 13,889     $ 18,658  
                                     
    Earnings per share – basic and diluted   $ 1.65     $ 1.71     $ 4.15     $ 5.41  
                                     
    Annualized return on average equity     9.74 %     11.28 %     8.47 %     12.22 %
    Annualized return on average tangible common equity1     11.16 %     13.19 %     9.74 %     14.18 %
    Annualized return on average assets     0.86 %     0.96 %     0.75 %     1.04 %

    ________________________
    1 For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    “We are pleased with our results from the third quarter,” commented Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation. “Both loans and deposits demonstrated solid growth, and the community banking segment showed increased earnings when compared to the previous quarter. Despite market and industry challenges, the consumer finance and mortgage banking segments remained profitable. Our net interest margin was relatively flat when compared to the second quarter, which was expected, and asset quality, liquidity and capital all remain strong.”

    Key highlights for the third quarter and first nine months of 2024 are as follows.

    • Community banking segment loans grew $158.5 million, or 16.6 percent annualized, and $185.6 million, or 14.9 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Consumer finance segment loans grew $8.8 million, or 2.5 percent annualized, and $6.1 million, or 1.3 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Deposits increased $69.8 million, or 4.5 percent annualized, and $107.5 million, or 5.3 percent, compared to December 31, 2023 and September 30, 2023, respectively;
    • Consolidated annualized net interest margin was 4.13 percent for the third quarter of 2024 compared to 4.29 percent for the third quarter of 2023 and 4.12 percent in the second quarter of 2024;
    • The community banking segment recorded provision for credit losses of $700,000 and $1.7 million for the third quarter and first nine months of 2024, respectively, compared to $500,000 and $1.6 million for the same periods in 2023;
    • The consumer finance segment recorded provision for credit losses of $3.0 million and $8.1 million for the third quarter and first nine months of 2024, respectively, compared to $1.6 million and $4.3 million for the same periods in 2023;
    • The consumer finance segment experienced net charge-offs at an annualized rate of 2.36 percent of average total loans for the first nine months of 2024, compared to 1.75 percent for the first nine months of 2023;
    • Mortgage banking segment loan originations were $157.0 million for the third quarter of 2024, an increase of $27.3 million, or 21.1 percent, and an increase of $11.0 million, or 7.5 percent, compared to the third quarter of 2023 and the second quarter of 2024, respectively;
    • During the third quarter of 2024, the community banking segment opened a new retail banking branch in Colonial Heights, Virginia and announced the closure of its Hampton, Virginia branch in the fourth quarter of 2024.

    Community Banking Segment. The community banking segment reported net income of $5.3 million and $13.9 million for the third quarter and first nine months of 2024, respectively, compared to $5.7 million and $17.7 million for the same periods in 2023. The decreases in community banking segment net income were due primarily to:

    • higher interest expense due primarily to higher rates on deposits and higher balances of interest-bearing deposits, partially offset by lower balances of borrowings;
    • higher salaries and employee benefits expense for the first nine months of 2024, as compared to the same period in 2023, which have generally increased in line with market conditions. Salaries and employee benefits expense decreased to $8.9 million for the three months ended September 30, 2024, compared to $9.1 million and $9.4 million for the three months ended June 30, 2024 and March 31, 2024, respectively, due primarily to a reduction in headcount through attrition;
    • higher occupancy expense related to branch network improvements, including the relocation of a branch and the opening of a new branch; and
    • higher data processing and consulting costs related to investments in operational technology to improve resilience, efficiency and customer experience;

    partially offset by:

    • higher interest income resulting from the effects of higher interest rates on asset yields and higher average balances of loans, offset in part by lower average balances of securities; and
    • higher wealth management services income as assets under management increased 19.0 percent for the first nine months of 2024, as compared to the same period in 2023.

    Average loans increased $186.5 million, or 15.2 percent, for the third quarter of 2024 and increased $158.4 million, or 13.2 percent, for the first nine months of 2024, compared to the same periods in 2023, due primarily to growth in the construction, commercial real estate, and residential mortgage segments of the loan portfolio. Average deposits increased $135.8 million, or 6.8 percent, for the third quarter of 2024 and increased $101.2 million, or 5.1 percent, for the first nine months of 2024, compared to the same periods in 2023, due primarily to higher balance of time deposits, partially offset by decreases in savings and interest-bearing demand deposits and noninterest-bearing demand deposits.

    Average loan yields and average costs of interest-bearing deposits were higher for the third quarter and first nine months of 2024, compared to the same periods of 2023, due primarily to the effects of the higher interest rate environment.

    The community banking segment’s nonaccrual loans were $628,000 at September 30, 2024 compared to $406,000 at December 31, 2023. The community banking segment recorded provision for credit losses of $700,000 and $1.7 million for the third quarter and first nine months of 2024, respectively, compared to $500,000 and $1.6 million for the same periods of 2023. At September 30, 2024, the allowance for credit losses increased to $17.5 million, compared to $16.1 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 1.22 percent at September 30, 2024 from 1.26 percent at December 31, 2023. The increases in provision and allowance for credit losses are due primarily to growth in the loan portfolio. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

    Mortgage Banking Segment. The mortgage banking segment reported net income of $351,000 for the third quarter of 2024, compared to a net loss of $5,000 for the same period of 2023, due primarily to:

    • higher gains on sales of loans due to higher volume of mortgage loan originations; and
    • higher mortgage banking fee income;

    partially offset by:

    • higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits, and data processing expenses.

    The mortgage banking segment reported net income of $1.0 million for the first nine months of 2024, compared to $568,000 for the same period of 2023, due primarily to:

    • lower variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits, as well as mortgage banking loan processing expenses and data processing expenses;
    • lower occupancy expense due to an effort to reduce overhead costs;
    • higher mortgage banking fee income; and
    • relatively unchanged gains on sales of loans and mortgage loan production volume;

    partially offset by:

    • lower mortgage lender services income due lower mortgage loan production volume across the industry.

    The sustained elevated level of mortgage interest rates, combined with higher home prices and lower levels of inventory, has led to a level of mortgage loan originations in 2024 and 2023 for the industry that is lower than recent historical averages. Mortgage loan originations for the mortgage banking segment were $157.0 million for the third quarter of 2024, comprised of $15.0 million refinancings and $142.0 million home purchases, compared to $129.7 million, comprised of $11.9 million refinancings and $117.8 million home purchases, for the same period in 2023. Mortgage loan originations for the mortgage banking segment were $397.3 million for the first nine months of 2024, comprised of $34.3 million refinancings and $363.0 million home purchases, compared to $400.6 million, comprised of $40.2 million refinancings and $360.4 million home purchases, for the same period in 2023. Mortgage loan originations in the third quarter of 2024 increased $11.0 million compared to the second quarter of 2024 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

    During the third quarter and first nine months of 2024, the mortgage banking segment recorded a reversal of provision for indemnification losses of $100,000 and $375,000, respectively, compared to a reversal of provision for indemnification losses of $200,000 and $435,000 in the same periods of 2023. The mortgage banking segment increased reserves for indemnification losses during 2020 based on widespread forbearance on mortgage loans and economic uncertainty related to the COVID-19 pandemic. The release of indemnification reserves in 2024 and 2023 was due primarily to improvement in the mortgage banking segment’s assessment of borrower payment performance, lower volume of mortgage loan originations in recent years and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

    Consumer Finance Segment.   The consumer finance segment reported net income of $311,000 and $1.1 million for the third quarter and first nine months of 2024, respectively, compared to net income of $682,000 and $2.3 million for the same periods in 2023. The decreases in consumer finance segment net income were due primarily to:

    • higher provision for credit losses due primarily to increased net charge-offs and loan growth; and
    • higher interest expense on variable rate borrowings from the community banking segment as a result of higher interest rates and higher balances of borrowings;

    partially offset by:

    • higher interest income resulting from the effects of higher interest rates on loan yields and higher average balances of loans;
    • lower salaries and employee benefits expense due to an effort to reduce overhead costs; and
    • lower loan recovery expense related to growth in loans with stronger credit quality and efficiency initiatives within the collections department.

    Average loans increased $8.3 million, or 1.8 percent, for the third quarter of 2024 and increased $3.0 million, or less than one percent, for the first nine months of 2024, compared to the same periods in 2023. The consumer finance segment experienced net charge-offs at an annualized rate of 2.36 percent of average total loans for the first nine months of 2024, compared to 1.75 percent for the first nine months of 2023, due primarily to an increase in the number of delinquent loans and repossessions and a higher average charge-off per unit as a result of larger loan amounts due to higher automobile values during 2020 and 2021 and a decline in wholesale values of used automobiles since then. At September 30, 2024, total delinquent loans as a percentage of total loans was 3.49 percent, compared to 4.09 percent at December 31, 2023, 3.30 percent at September 30, 2023, and 3.51 percent at June 30, 2024. Delinquency and loss rates have generally returned to pre-pandemic levels due to the passage of time since the expiration of stimulus and enhanced unemployment benefits that benefitted borrowers.

    The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. The average amounts deferred on a monthly basis during the third quarter and first nine months of 2024 were 1.91 percent and 1.70 percent of average automobile loans outstanding compared to 2.20 percent and 1.83 percent during the same periods during 2023. The allowance for credit losses was $23.2 million at September 30, 2024 and $23.6 million at December 31, 2023. The allowance for credit losses as a percentage of total loans decreased to 4.87 percent at September 30, 2024 from 5.03 percent at December 31, 2023, primarily as a result of growth in loans with stronger credit quality while balances of loans with lower credit quality declined. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

    Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of September 30, 2024, the Corporation’s uninsured deposits were approximately $607.6 million, or 28.5 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $455.6 million, or 21.3 percent of total deposits as of September 30, 2024. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $287.4 million and borrowing availability was $583.8 million as of September 30, 2024, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $415.6 million as of September 30, 2024.

    In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings increased to $142.3 million at September 30, 2024 from $109.5 million at December 31, 2023 due primarily to higher borrowings from the FHLB. Borrowings decreased $4.7 million from $147.0 million at September 30, 2023.

    Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities and the issuance of brokered certificates of deposit.

    Capital and Dividends.   The Corporation declared a quarterly cash dividend for the third quarter of 2024 of $0.44 per share, which was paid on October 1, 2024. This dividend represents a payout ratio of 26.7 percent of earnings per share for the third quarter of 2024. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

    Total consolidated equity increased $10.4 million at September 30, 2024, compared to December 31, 2023, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by share repurchases and dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of rising market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest and unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale decreased to $17.2 million at September 30, 2024 compared to $25.0 million at December 31, 2023 due primarily to fluctuations in market interest rates of debt securities.

    As of September 30, 2024, the most recent notification from the FDIC categorized the C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at September 30, 2024, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at September 30, 2024. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses became realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

    In December 2023, the Board of Directors authorized a program, effective January 1, 2024, to repurchase up to $10.0 million of the Corporation’s common stock through December 31, 2024. During the third quarter and first nine months of 2024, the Corporation repurchased 60,520 shares, or $3.2 million, and 149,594 shares, or $7.3 million, of its common stock under this share repurchase program, respectively.

    About C&F Financial Corporation.  The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $61.78 per share on October 28, 2024. At September 30, 2024, the book value per share of the Corporation was $70.29 and the tangible book value per share was $62.13. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    C&F Bank operates 32 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia, North Carolina, and West Virginia. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered in Alabama, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

    Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE.

    Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

    Forward-Looking Statements.   This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

    • interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, increases in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
    • general business conditions, as well as conditions within the financial markets
    • general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
    • general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts between Russia and Ukraine and in the Middle East) or other major events, or the prospect of these events
    • average loan yields and average costs of interest-bearing deposits
    • financial services industry conditions, including bank failures or concerns involving liquidity
    • labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
    • the legislative/regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
    • monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
    • demand for financial services in the Corporation’s market area
    • the value of securities held in the Corporation’s investment portfolios
    • the quality or composition of the loan portfolios and the value of the collateral securing those loans
    • the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
    • the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
    • the level of net charge-offs on loans and the adequacy of our allowance for credit losses
    • the level of indemnification losses related to mortgage loans sold
    • demand for loan products
    • deposit flows
    • the strength of the Corporation’s counterparties
    • the availability of lines of credit from the FHLB and other counterparties
    • the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
    • competition from both banks and non-banks, including competition in the non-prime automobile finance markets and marine and recreational vehicle finance markets
    • services provided by, or the level of the Corporation’s reliance upon third parties for key services
    • the commercial and residential real estate markets, including changes in property values
    • the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
    • the Corporation’s technology initiatives and other strategic initiatives
    • the Corporation’s branch expansions and consolidations plans
    • cyber threats, attacks or events
    • C&F Bank’s product offerings
    • accounting principles, policies and guidelines, and elections by the Corporation thereunder

    These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

       
    C&F Financial CorporationSelected Financial Information
    (dollars in thousands, except for per share data)
    (unaudited)    		  
       
    Financial Condition   9/30/2024    12/31/2023    9/30/2023  
    Interest-bearing deposits in other banks   $ 32,507   $ 58,777   $ 53,407  
    Investment securities – available for sale, at fair value     409,045     462,444     460,653  
    Loans held for sale, at fair value     44,677     14,176     25,469  
    Loans, net:                    
    Community Banking segment     1,414,576     1,257,557     1,230,694  
    Consumer Finance segment     454,062     444,931     446,787  
    Total assets     2,550,904     2,438,498     2,421,705  
    Deposits     2,135,891     2,066,130     2,028,429  
    Repurchase agreements     28,643     30,705     28,660  
    Other borrowings     113,683     78,834     118,388  
    Total equity     227,958     217,516     200,380  
                                     
        For The     For The  
        Quarter Ended     Nine Months Ended  
    Results of Operations   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Interest income   $ 36,131     $ 31,686     $ 103,151     $ 91,729  
    Interest expense     11,442       7,224       31,476       17,964  
    Provision for credit losses:                                
    Community Banking segment     700       500       1,650       1,550  
    Consumer Finance segment     3,000       1,550       8,100       4,250  
    Noninterest income:                                
    Gains on sales of loans     1,825       1,220       4,814       4,930  
    Other     6,947       4,994       18,774       16,882  
    Noninterest expenses:                                
    Salaries and employee benefits     13,921       12,921       41,625       40,841  
    Other     9,170       8,605       26,989       25,969  
    Income tax expense     1,250       1,323       3,010       4,309  
    Net income     5,420       5,777       13,889       18,658  
                                     
    Fully-taxable equivalent (FTE) amounts1                                
    Interest income on loans-FTE     33,070       28,423       94,166       81,999  
    Interest income on securities-FTE     2,958       3,134       9,033       9,589  
    Total interest income-FTE     36,417       31,936       104,010       92,424  
    Net interest income-FTE     24,975       24,712       72,534       74,460  

    ________________________
    1For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                                       
        For the Quarter Ended  
          9/30/2024      9/30/2023     
        Average      Income/      Yield/   Average      Income/      Yield/  
    Yield Analysis   Balance     Expense     Rate   Balance     Expense     Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 318,834     $ 1,828   2.29 % $ 414,036     $ 2,207   2.13 %
    Tax-exempt     119,253       1,130   3.79     110,182       927   3.37  
    Total securities     438,087       2,958   2.70     524,218       3,134   2.39  
    Loans:                                  
    Community banking segment     1,411,337       19,797   5.58     1,224,791       15,887   5.15  
    Mortgage banking segment     40,232       597   5.90     30,210       517   6.79  
    Consumer finance segment     481,124       12,676   10.48     472,811       12,019   10.09  
    Total loans     1,932,693       33,070   6.81     1,727,812       28,423   6.53  
    Interest-bearing deposits in other banks     38,756       389   3.99     38,507       379   3.90  
    Total earning assets     2,409,536       36,417   6.02     2,290,537       31,936   5.54  
    Allowance for credit losses     (40,879 )               (41,014 )            
    Total non-earning assets     158,063                 151,070              
    Total assets   $ 2,526,720               $ 2,400,593              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 323,019       540   0.67   $ 341,707       505   0.59  
    Money market deposit accounts     293,789       1,104   1.49     304,309       782   1.02  
    Savings accounts     178,417       23   0.05     204,042       29   0.06  
    Certificates of deposit     801,669       8,524   4.23     571,499       4,316   3.00  
    Total interest-bearing deposits     1,596,894       10,191   2.54     1,421,557       5,632   1.57  
    Borrowings:                                  
    Repurchase agreements     27,207       117   1.72     29,440       95   1.29  
    Other borrowings     93,961       1,134   4.83     122,250       1,497   4.90  
    Total borrowings     121,168       1,251   4.13     151,690       1,592   4.20  
    Total interest-bearing liabilities     1,718,062       11,442   2.65     1,573,247       7,224   1.83  
    Noninterest-bearing demand deposits     537,796                 577,382              
    Other liabilities     48,330                 45,124              
    Total liabilities     2,304,188                 2,195,753              
    Equity     222,532                 204,840              
    Total liabilities and equity   $ 2,526,720               $ 2,400,593              
    Net interest income         $ 24,975             $ 24,712      
    Interest rate spread               3.37 %             3.71 %
    Interest expense to average earning assets               1.89 %             1.25 %
    Net interest margin               4.13 %             4.29 %
                                       
        For the Nine Months Ended  
          9/30/2024      9/30/2023     
        Average      Income/      Yield/   Average      Income/      Yield/  
    Yield Analysis   Balance     Expense     Rate   Balance     Expense     Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 340,297     $ 5,665   2.22 % $ 441,204     $ 7,017   2.12 %
    Tax-exempt     119,931       3,368   3.74     104,549       2,572   3.28  
    Total securities     460,228       9,033   2.62     545,753       9,589   2.34  
    Loans:                                  
    Community banking segment     1,357,962       55,671   5.48     1,199,560       45,375   5.06  
    Mortgage banking segment     30,759       1,411   6.13     26,713       1,312   6.57  
    Consumer finance segment     477,768       37,084   10.37     474,738       35,312   9.94  
    Total loans     1,866,489       94,166   6.74     1,701,011       81,999   6.45  
    Interest-bearing deposits in other banks     30,197       811   3.59     33,072       836   3.38  
    Total earning assets     2,356,914       104,010   5.89     2,279,836       92,424   5.42  
    Allowance for loan losses     (40,670 )               (41,192 )            
    Total non-earning assets     155,935                 150,826              
    Total assets   $ 2,472,179               $ 2,389,470              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 326,540       1,569   0.64   $ 359,157       1,578   0.59  
    Money market deposit accounts     295,257       3,177   1.44     323,630       2,121   0.88  
    Savings accounts     181,880       85   0.06     213,940       91   0.06  
    Certificates of deposit     753,114       23,140   4.10     509,424       9,447   2.48  
    Total interest-bearing deposits     1,556,791       27,971   2.40     1,406,151       13,237   1.26  
    Borrowings:                                  
    Repurchase agreements     26,774       325   1.62     32,048       273   1.14  
    Other borrowings     91,024       3,180   4.66     122,984       4,454   4.83  
    Total borrowings     117,798       3,505   3.97     155,032       4,727   4.07  
    Total interest-bearing liabilities     1,674,589       31,476   2.51     1,561,183       17,964   1.54  
    Noninterest-bearing demand deposits     533,113                 582,573              
    Other liabilities     45,835                 42,108              
    Total liabilities     2,253,537                 2,185,864              
    Equity     218,642                 203,606              
    Total liabilities and equity   $ 2,472,179               $ 2,389,470              
    Net interest income         $ 72,534             $ 74,460      
    Interest rate spread               3.38 %             3.88 %
    Interest expense to average earning assets               1.78 %             1.05 %
    Net interest margin               4.11 %             4.37 %
                       
        9/30/2024
    Funding Sources    Capacity      Outstanding      Available
    Unsecured federal funds agreements   $ 75,000   $ —   $ 75,000
    Borrowings from FHLB     254,445     60,000     194,445
    Borrowings from Federal Reserve Bank     314,385     —     314,385
    Total   $ 643,830   $ 60,000   $ 583,830
                   
    Asset Quality   9/30/2024   12/31/2023  
    Community Banking              
    Total loans   $ 1,432,109   $ 1,273,629  
    Nonaccrual loans   $ 628   $ 406  
                   
    Allowance for credit losses (ACL)   $ 17,533   $ 16,072  
    Nonaccrual loans to total loans     0.04 %   0.03 %
    ACL to total loans     1.22 %   1.26 %
    ACL to nonaccrual loans     2,791.88 %   3,958.62 %
    Annualized year-to-date net charge-offs to average loans     0.01 %   0.01 %
                   
    Consumer Finance              
    Total loans   $ 477,300   $ 468,510  
    Nonaccrual loans   $ 1,101   $ 892  
    Repossessed assets   $ 522   $ 646  
    ACL   $ 23,238   $ 23,579  
    Nonaccrual loans to total loans     0.23 %   0.19 %
    ACL to total loans     4.87 %   5.03 %
    ACL to nonaccrual loans     2,110.63 %   2,643.39 %
    Annualized year-to-date net charge-offs to average loans     2.36 %   1.99 %
                                     
        For The     For The  
        Quarter Ended     Nine Months Ended  
    Other Performance Data   9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Net Income (Loss):                                
    Community Banking   $ 5,337       $ 5,685       $ 13,920       $ 17,742    
    Mortgage Banking     351         (5 )       1,021         568    
    Consumer Finance     311         682         1,142         2,261    
    Other1     (579 )       (585 )       (2,194 )       (1,913 )  
    Total   $ 5,420       $ 5,777       $ 13,889       $ 18,658    
                                     
    Net income attributable to C&F Financial Corporation   $ 5,389       $ 5,789       $ 13,797       $ 18,536    
                                     
    Earnings per share – basic and diluted   $ 1.65       $ 1.71       $ 4.15       $ 5.41    
    Weighted average shares outstanding – basic and diluted     3,258,420         3,391,624         3,323,942         3,426,845    
                                     
    Annualized return on average assets     0.86   %     0.96   %     0.75   %     1.04   %
    Annualized return on average equity     9.74   %     11.28   %     8.47   %     12.22   %
    Annualized return on average tangible common equity2     11.16   %     13.19   %     9.74   %     14.18   %
    Dividends declared per share   $ 0.44       $ 0.44       $ 1.32       $ 1.32    
                                     
    Mortgage loan originations – Mortgage Banking   $ 156,968       $ 129,658       $ 397,324       $ 400,559    
    Mortgage loans sold – Mortgage Banking     146,143         140,214         367,449         389,465    

    ________________________
    1 Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
    2 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                   
    Market Ratios   9/30/2024     12/31/2023
    Market value per share   $ 58.35     $ 68.19
    Book value per share   $ 70.29     $ 64.28
    Price to book value ratio     0.83       1.06
    Tangible book value per share1   $ 62.13     $ 56.40
    Price to tangible book value ratio1     0.94       1.21
    Price to earnings ratio (ttm)     10.30       9.87

    ________________________
    1 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                         
                         
                    Minimum Capital
    Capital Ratios   9/30/2024   12/31/2023   Requirements3
    C&F Financial Corporation1                    
    Total risk-based capital ratio     13.8 %   14.8 %   8.0 %
    Tier 1 risk-based capital ratio     11.6 %   12.6 %   6.0 %
    Common equity tier 1 capital ratio     10.5 %   11.3 %   4.5 %
    Tier 1 leverage ratio     9.8 %   10.1 %   4.0 %
                         
    C&F Bank2                    
    Total risk-based capital ratio     13.4 %   14.1 %   8.0 %
    Tier 1 risk-based capital ratio     12.1 %   12.9 %   6.0 %
    Common equity tier 1 capital ratio     12.1 %   12.9 %   4.5 %
    Tier 1 leverage ratio     10.1 %   10.3 %   4.0 %

    ________________________
    1 The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
    2 All ratios at September 30, 2024 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2023 are presented as filed.
    3 The ratios presented for minimum capital requirements are those to be considered adequately capitalized.

                                     
        For The Quarter Ended     For The Nine Months Ended  
        9/30/2024     9/30/2023     9/30/2024     9/30/2023  
    Reconciliation of Certain Non-GAAP Financial Measures                        
    Return on Average Tangible Common Equity                                
    Average total equity, as reported   $ 222,532       $ 204,840       $ 218,642       $ 203,606    
    Average goodwill     (25,191 )       (25,191 )       (25,191 )       (25,191 )  
    Average other intangible assets     (1,242 )       (1,507 )       (1,303 )       (1,572 )  
    Average noncontrolling interest     (573 )       (484 )       (670 )       (668 )  
    Average tangible common equity   $ 195,526       $ 177,658       $ 191,478       $ 176,175    
                                     
    Net income   $ 5,420       $ 5,777       $ 13,889       $ 18,658    
    Amortization of intangibles     65         69         195         205    
    Net (income) loss attributable to noncontrolling interest     (31 )       12         (92 )       (122 )  
    Net tangible income attributable to C&F Financial Corporation   $ 5,454       $ 5,858       $ 13,992       $ 18,741    
                                     
    Annualized return on average equity, as reported     9.74   %     11.28   %     8.47   %     12.22   %
    Annualized return on average tangible common equity     11.16   %     13.19   %     9.74   %     14.18   %
                                 
        For The Quarter Ended     For The Nine Months Ended
        9/30/2024     9/30/2023     9/30/2024   9/30/2023
    Fully Taxable Equivalent Net Interest Income1                            
    Interest income on loans   $ 33,021     $ 28,369     $ 94,014   $ 81,845
    FTE adjustment     49       54       152     154
    FTE interest income on loans   $ 33,070     $ 28,423     $ 94,166   $ 81,999
                                 
    Interest income on securities   $ 2,721     $ 2,938     $ 8,326   $ 9,048
    FTE adjustment     237       196       707     541
    FTE interest income on securities   $ 2,958     $ 3,134     $ 9,033   $ 9,589
                                 
    Total interest income   $ 36,131     $ 31,686     $ 103,151   $ 91,729
    FTE adjustment     286       250       859     695
    FTE interest income   $ 36,417     $ 31,936     $ 104,010   $ 92,424
                                 
    Net interest income   $ 24,689     $ 24,462     $ 71,675   $ 73,765
    FTE adjustment     286       250       859     695
    FTE net interest income   $ 24,975     $ 24,712     $ 72,534   $ 74,460

    ____________________
    1 Assuming a tax rate of 21%.

                   
        9/30/2024     12/31/2023
    Tangible Book Value Per Share          
    Equity attributable to C&F Financial Corporation   $ 227,340       $ 216,878  
    Goodwill     (25,191 )       (25,191 )
    Other intangible assets     (1,211 )       (1,407 )
    Tangible equity attributable to C&F Financial Corporation   $ 200,938       $ 190,280  
                   
    Shares outstanding     3,234,363         3,374,098  
                   
    Book value per share   $ 70.29       $ 64.28  
    Tangible book value per share   $ 62.13       $ 56.40  
       
    Contact: Jason Long, CFO and Secretary
      (804) 843-2360

    The MIL Network –

  • MIL-OSI Security: Peoria Man Sentenced to More Than 11 Years in Prison for Multi-Year Fraud Scheme

    Source: Federal Bureau of Investigation (FBI) State Crime News

    PEORIA, Ill. – A Peoria, Illinois, man, Chad Duane Campen, 35, was sentenced on October 24, 2024, to 135 months (11.3 years) following his convictions for bank fraud (one count), wire fraud (three counts), illegal monetary transaction (one count), bankruptcy fraud (one count), and false statements under oath (one count).

    At the sentencing hearing before U.S. District Judge James E. Shadid, the government presented evidence that Campen successfully swindled dozens of individuals and financial institutions between 2013 and 2021. During the course of the sentencing, the court heard from several of Campen’s victims who described themselves as “survivors” of Campen’s crimes. Campen pretended to be engaged in various business ventures ranging from farming to the construction of a solar farm. Via this elaborate scheme, Campen obtained loans from multiple banks using each fraudulent loan to not only enrich himself but also to pay off his previous victim. By the time his scheme collapsed, the government showed that Campen had obtained more than $17 million from these banks, of which almost $5 million was still outstanding.

    Campen, however, did not limit himself to stealing from banks, he also defrauded individuals. Witnesses, victim letters, and other evidence demonstrated how Campen would pretend to befriend people over the course of years and be welcomed into their families and homes only to steal from them. Campen caused a family farm to have its equipment repossessed after he claimed their equipment as his to secure one of his fraudulent loans. In another instance, Campen offered to assist an elderly man, gained access to his home, and stole more than $50,000 from him. And Campen convinced a family to invest in a purported farming opportunity. The family took out a loan using their own farm as collateral. When Campen’s fraud scheme collapsed, the family not only lost the money they had given Campen, but their farm—which had been in their family for more than 100 years—had to be sold.

    Another victim of Campen’s fraud was the Village of Bartonville, Illinois. Campen with co-conspirator Richard Weiss, convinced the Village to extend loans and additional funds to tear down the old Bowen Building in Bartonville. Campen lied to the Village and made promises that he could recoup the Village’s loan and investments through the sale of materials from the building. Campen secured these funds by falsely claiming that he already had buyers lined up for the stone for the building. As a result of Campen’s fraud, the Village lost the equivalent of half of all its property tax revenue for an entire year.

    Campen’s co-conspirator in certain acts connected with that fraud, the owner of the Bowen building, Richard Weiss, 62, of Pekin, Illinois, was charged in a separate case in February 2024 with bank fraud and conspiracy to commit money laundering, related to his and Campen’s receipt of funds from the Village. He pleaded guilty to both counts in February and was sentenced the same day as Campen to 15 months of imprisonment. Weiss’s sentence took into account his unique personal characteristics and significantly smaller role in the offense. In imposing the sentence, Judge Shadid noted that Weiss himself was a victim of Campen’s fraud.

    As Campen’s scheme began to unravel, he tried to use the mechanisms of bankruptcy court to delay his creditors and prevent discovery of his fraud. Campen committed additional fraud in the bankruptcy court by filing counterfeit documents and making false statements in his pleadings and under oath. Campen’s fraud was quickly detected by the professionals with the Office of the United States Trustee for Region 10, who added to the growing investigation of Campen by providing a criminal referral to the United States Attorney’s Office.

    A seventeen-count indictment was filed January 19, 2022, and Campen was arrested and detained five days later. Although he has filed several motions and appeals requesting bond, he has remained in the custody of the U.S. Marshals Service since his arrest. Campen entered into a written plea agreement in March 2024, pleading guilty to seven of the seventeen counts.

    The statutory penalties for the charges are:

    Charge

    Imprisonment Time

    Supervised Release
    Bank Fraud (Ct. 5) Not more than 30 years 5 years
    Wire Fraud (Cts. 6, 12, 13) Not more than 20 years 3 years
    Illegal Monetary Transaction (Ct. 14) Not more than 10 years 3 years
    Bankruptcy Fraud (Ct. 16) Not more than 5 years 3 years
    False Statements Under Oath (Ct. 17) Not more than 5 years 3 years

    During his term of supervised release, Campen is to refrain from engaging in any occupation, business or profession related to the banking industry, including, but not limited to, employment by a bank or any other financial institution.

    “The defendant’s repeated acts of fraud caused great damage not only to financial institutions, but also to members of our community, including but not limited to the Village of Bartonville and its taxpayers,” said U.S. Attorney Gregory K. Harris. “Our office is committed to protecting individuals and banks from predatory acts like those of the defendant and will vigorously pursue such cases. We are grateful to our federal law enforcement partners, the Internal Revenue Service and the Federal Bureau of Investigation, as well as the Office of the United States Trustee for Region 10.”

    “Today’s sentence will go a long way in protecting the integrity of the bankruptcy system,” said Nancy J. Gargula, United States Trustee for Indiana and the Central and Southern Districts of Illinois (Region 10).  “We are grateful to U.S. Attorney Harris and our law enforcement partners for their commitment to protect the interests of creditors and the public.”

    “Driven by an unquenchable thirst for ill-gotten gains, Chad Campen embarked on an eight-year fraud spree which led to devastating results for those who put their trust in him,” said FBI Springfield Special Agent in Charge Christopher Johnson. “This sentence sends a clear message about the consequences of greed and demonstrates the resolve of the FBI and our law enforcement partners to follow the money trail and ensure justice.”

    “Over several years, Chad Campen defrauded dozens of victims, creating severe economic distress for families and straining resources for institutions that fell victim to his fraud scheme,” said Marta C. Grijalva, Assistant Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “This sentencing reflects the consequences of actions that caused significant financial pain to not only institutions and communities, but also individual families. That is why IRS Criminal Investigation and its fellow law enforcement partners remain committed to safeguarding the financial security of our communities and holding accountable those who exploit the system for personal gain.”

    The case investigation was conducted by the IRS Criminal Investigation and the Federal Bureau of Investigation, Springfield Field Office. The bankruptcy fraud charge was referred for criminal prosecution by the Office of the United States Trustee for Region 10, Nancy J. Gargula. The U.S. Trustee Program is the component of the Justice Department that protects the integrity of the bankruptcy system by overseeing case administration and litigating to enforce the bankruptcy laws. Region 10 is headquartered in Indianapolis, with additional offices in South Bend, Indiana, and Peoria, Illinois. Assistant U.S. Attorney Douglas F. McMeyer represented the government in the prosecution.

    MIL Security OSI –

  • MIL-OSI: Federal Home Loan Bank of Indianapolis Announces Third Quarter 2024 Dividends, Reports Earnings

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, Oct. 29, 2024 (GLOBE NEWSWIRE) — Today the Board of Directors of the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) declared its third quarter 2024 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 9.50% and 4.50%, respectively. The higher dividend rate on activity-based stock reflects the Board’s discretion under the Bank’s capital plan to reward members that use FHLBank Indianapolis in support of their liquidity needs.

    The dividends will be paid in cash on October 30, 2024.

    Earnings Highlights

    Net income, for the third quarter of 2024, was $91 million, a net increase of $214,000 compared to the corresponding quarter in the prior year. The increase was primarily due to net changes in gains (losses) on investments, substantially offset by an increase in voluntary allocations to affordable housing, small business and community investment programs.

    Net income, for the nine months ended September 30, 2024, was $275 million, a net increase of $1 million compared to the corresponding period in the prior year. The increase was primarily due to higher earnings on the portion of the Bank’s assets funded by its capital.1 However, such increase was substantially offset by net gains on the extinguishment of consolidated obligations in the corresponding period that did not occur in the current period and an increase in voluntary allocations to affordable housing, small business and community investment programs.

    __________________
    1     FHLBank Indianapolis earns interest income on advances to and mortgage loans purchased from its Michigan and Indiana member financial institutions, as well as on long- and short-term investments. Net interest income is primarily determined by the size of the Bank’s balance sheet and the spread between the interest earned on its assets and the interest cost of funding with consolidated obligations. Because of the Bank’s inherent relatively low interest-rate spread, it has historically derived a substantial portion of its net interest income from deploying its interest-free capital in floating-rate assets.

    Affordable Housing Program Allocation

    The Bank’s Affordable Housing Program (“AHP”) provides grant funding to support housing for low- and moderate-income families in communities served by its Michigan and Indiana members. For the nine months ended September 30, 2024, AHP assessments2 totaled $32 million. Full-year 2024 required allocations will be available to the Bank’s members in 2025 to help address their communities’ affordable housing needs, including construction, rehabilitation, accessibility improvements and homebuyer down-payment assistance.

    In addition, as part of the Bank’s commitment to further support its AHP and additional affordable housing, small business and community investment programs, the Bank voluntarily allocated additional funding in 2024 totaling $23 million, based on 5% of its net earnings for 2023. During the third quarter of 2024, the Bank also committed additional voluntary funding of $10 million, raising the total voluntary allocation for 2024 to $33 million, of which $17 million has been recognized in the nine-month period and is reported in other expenses. The timing of the recognition of such allocations in other expenses can vary due to the application of the related accounting requirements.

    As a result, the Bank’s combined required and voluntary allocation recognized in the nine-month period totaled $49 million, an increase of $11 million, or 30%, compared to the corresponding period in the prior year.

    Condensed Statements of Income

    The following table presents unaudited condensed statements of income ($ amounts in millions):

        Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
        2024   2023   2024   2023
    Interest income (a)   $ 1,090   $ 974   $ 3,140   $ 2,743
    Interest expense (a)     960     846     2,756     2,388
    Provision for credit losses     —     —     —     —
    Net interest income after provision for credit losses     130     128     384     355
    Other income (b)     9     —     26     39
    Other expenses (c)     37     27     103     89
    AHP assessments     11     10     32     31
                     
    Net income   $ 91   $ 91   $ 275   $ 274
    (a)   Includes hedging gains (losses) and net interest settlements on fair-value hedge relationships. The Bank uses derivatives, specifically interest-rate swaps, to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations. These derivatives are designated as fair-value hedges and, therefore, changes in the estimated fair value of the derivative, and changes in the fair value of the hedged item that are attributable to the hedged risk, are recorded in net interest income.
    (b)   Includes impact of purchase discount (premium) recorded through mark-to-market gains (losses) on trading securities and net interest settlements on derivatives hedging trading securities, while generally offsetting interest income on trading securities is included in interest income.
    (c)   Includes voluntary allocations to the Bank’s AHP and other affordable housing, small business and community investment programs.

    __________________
    2 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.

    Balance Sheet Highlights

    Total assets, at September 30, 2024, were $81.1 billion, a net increase of $4.5 billion, or 6%, from December 31, 2023, primarily due to an increase in advances outstanding.

    Advances 3

    Advances outstanding, at September 30, 2024, at carrying value, totaled $38.6 billion, a net increase of $3.0 billion, or 9%, from December 31, 2023. The par value of advances outstanding increased by 7% to $38.5 billion, which included a net increase in short-term advances of 31% and a net decrease in long-term advances of 2%. At September 30, 2024, based on contractual maturities, long-term advances composed 67% of advances outstanding, while short-term advances composed 33%.

    The par value of advances outstanding to depository institutions — comprising commercial banks, savings institutions and credit unions — increased by 11%, while advances outstanding to insurance companies increased by 1%. As a percent of total advances outstanding at par value, at September 30, 2024, advances to commercial banks and savings institutions were 50% and advances to credit unions were 15%, resulting in total advances to depository institutions of 65%, while advances to insurance companies were 35%.

    Mortgage Loans Held for Portfolio 4

    Mortgage loans held for portfolio, at September 30, 2024, totaled $10.0 billion, a net increase of $1.3 billion, or 16%, from December 31, 2023, as the Bank’s purchases from its members exceeded principal repayments by borrowers. Purchases of mortgage loans from members, for the nine months ended September 30, 2024, totaled $2.0 billion.

    Liquidity Investments 5

    Liquidity investments, at September 30, 2024, totaled $11.3 billion, a net decrease of $874 million, or 7%, from December 31, 2023. The Bank’s liquidity remained well above regulatory requirements and continues to enable the Bank to be a reliable liquidity provider to its members.

    Cash and short-term investments decreased by $1.4 billion, or 12%, to $10.2 billion. The portion of U.S. Treasury obligations classified as trading securities increased by $501 million, or 84%, to $1.1 billion. As a result of this activity, cash and short-term investments represented 90% of the total liquidity investments at September 30, 2024, while U.S. Treasury obligations represented 10%.

    The total outstanding balance and composition of the Bank’s liquidity investments are influenced by its liquidity needs, regulatory requirements, actual and anticipated member advance activity, market conditions, and the availability of short-term investments at attractive interest rates, relative to the cost of funds.

    Other Investment Securities

    Other investment securities, which consist substantially of mortgage-backed securities and U.S. Treasury obligations classified as held-to-maturity or available-for-sale, at September 30, 2024, totaled $20.3 billion, a net increase of $881 million, or 5%, from December 31, 2023.

    __________________
    3 Advances are secured loans that the Bank provides to its member institutions.
    4 The Bank purchases mortgage loans from its members to support its housing mission, provide an additional source of liquidity to its members, and diversify its investments.
    5 The Bank’s liquidity investments consist of cash, interest-bearing deposits, securities purchased under agreements to resell, federal funds sold and U.S. Treasury obligations.

    Consolidated Obligations 6

    FHLBank Indianapolis’ consolidated obligations outstanding, at September 30, 2024, totaled $75.0 billion, a net increase of $3.9 billion, or 6%, from December 31, 2023, which reflected increased funding needs associated with the net increase in the Bank’s total assets.

    Capital 7

    Total capital, at September 30, 2024, was $4.1 billion, a net increase of $383 million, or 10%, from December 31, 2023. The net increase resulted from issuances of capital stock to support advance activity, the growth in retained earnings and an increase in accumulated other comprehensive income.

    The Bank’s regulatory capital-to-assets ratio8, at September 30, 2024, was 5.56%, which exceeds all applicable regulatory capital requirements.

    __________________
    6 The primary source of funds for FHLBank Indianapolis, and for the other FHLBanks, is the sale of FHLBanks’ consolidated obligations in the capital markets. FHLBank Indianapolis is the primary obligor for the payment of the principal and interest on the consolidated obligations issued on its behalf; additionally, it is jointly and severally liable with each of the other FHLBanks for all of the FHLBanks’ consolidated obligations outstanding.
    7 FHLBank Indianapolis is a cooperative whose member financial institutions and former members own all of its capital stock as a condition of membership and to support outstanding credit products.
    8 Total regulatory capital, which consists of capital stock, mandatorily redeemable capital stock and retained earnings, as a percentage of total assets.

    Condensed Statements of Condition

    The following table presents unaudited condensed statements of condition ($ amounts in millions):

        September 30, 2024   December 31, 2023
    Advances   $ 38,600     $ 35,562  
    Mortgage loans held for portfolio, net     9,955       8,614  
    Liquidity investments     11,278       12,152  
    Other investment securities (a)     20,332       19,451  
    Other assets     894       829  
             
    Total assets   $ 81,059     $ 76,608  
             
    Consolidated obligations   $ 74,989     $ 71,053  
    MRCS     363       369  
    Other liabilities     1,580       1,442  
    Total liabilities     76,932       72,864  
             
    Capital stock (b)     2,476       2,285  
    Retained earnings (c)     1,668       1,532  
    Accumulated other comprehensive income (loss)     (17 )     (73 )
    Total capital     4,127       3,744  
             
    Total liabilities and capital   $ 81,059     $ 76,608  
             
    Total regulatory capital (d)   $ 4,507     $ 4,186  
             
    Regulatory capital-to-assets ratio     5.56 %     5.46 %
    (a)   Includes held-to-maturity and available-for-sale securities.
    (b)   Putable by members at par value.
    (c)   Includes restricted retained earnings, at September 30, 2024 and December 31, 2023, of $453 million and $398 million, respectively.
    (d)   Consists of total capital less accumulated other comprehensive income plus mandatorily redeemable capital stock.
         

    All amounts referenced above are unaudited. More detailed information about FHLBank Indianapolis’ financial condition as of September 30, 2024, and its results for the three and nine months then ended, will be included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Bank’s Quarterly Report on Form 10-Q.

    Safe Harbor Statement

    This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 concerning plans, objectives, goals, strategies, future events and performance. Forward-looking statements can be identified by words such as “will,” “believes,” “may,” “temporary,” “estimates,” and “expects” or the negative of these words or comparable terminology. Each forward-looking statement contained in this news release reflects FHLBank Indianapolis’ current beliefs and expectations. Actual results or performance may differ materially from what is expressed in any forward-looking statements.

    Any forward-looking statement contained in this news release speaks only as of the date on which it was made. FHLBank Indianapolis undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are referred to the documents filed by the Bank with the U.S. Securities and Exchange Commission, specifically reports on Form 10-K and Form 10-Q, which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov.

    Media Contact:
    Scott Thien
    Sr. Communications Lead
    317-902-3103
    sthien@fhlbi.com

    Building Partnerships. Serving Communities.
    FHLBank Indianapolis is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com. Also, follow the Bank on LinkedIn, as well as Instagram and X at @FHLBankIndy.

    The MIL Network –

  • MIL-OSI Canada: Statement by Minister Virani on the Final Report from the Independent Special Interlocutor for Missing Children and Unmarked Graves and Burial Sites associated with Indian Residential Schools

    Source: Government of Canada News

    GATINEAU, Quebec, Unceded Algonquin Traditional Territory, October 29, 2024

    Content warning: this statement contains information regarding Indian Residential Schools.

    A National Residential School Crisis Line is available to provide support for former Residential School students. Emotional and crisis referral services are available by calling the 24-hour national crisis line: 1-866-925-4419.

    The Hope for Wellness Line is available to all Indigenous peoples and provides immediate, toll-free telephone and on-line support and crisis intervention 24 hours a day, seven days a week and is available in English, French and, upon request, Cree, Ojibway and Inuktitut. Trained counsellors are available by phone at 1-855-242-3310 or by online chat on their website.

    Today, the Honourable Arif Virani, Minister of Justice and Attorney General of Canada, issued the following statement after receiving the Final Report of the Independent Special Interlocutor for Missing Children and Unmarked Graves and Burial Sites associated with Indian Residential Schools:

    “We cannot ignore the lasting impact of the Indian residential school system and the pain it has caused to Indigenous peoples. The harmful legacy of residential schools, which is one of lost children, languages and cultures, lost opportunities to thrive, grow and live full healthy lives and silenced truths, continues to be deeply felt today and cannot be denied.

    “In June 2022, Kimberly Murray was appointed as Special Interlocutor to work with First Nations, Inuit and Métis Survivors, families and communities to identify needed measures and recommend a new federal legal framework to ensure the respectful and culturally appropriate treatment of unmarked graves and burial sites associated with former residential schools.

    “I thank First Nations, Inuit and Métis Survivors, families and community members from coast to coast to coast who courageously shared their stories, knowledge and experiences with the Special Interlocutor in order to produce the Final Report.

    “Today, on behalf of the Government of Canada, I have the honour of receiving the Special Interlocutor’s Final Report, an Indigenous-led Reparations Framework, which is being delivered concurrently to myself and First Nations, Inuit and Métis Survivors, communities and families. It is my sincere hope that the Special Interlocutor’s Final Report and the recommendations in it will honour the memory of the children who never returned home from residential schools and will lead to healing for families and Survivors.

    “I thank Kimberly Murray for her crucial work listening to Survivors and families and identifying needed measures and recommendations for a new federal legal framework, to ensure that unmarked graves and burial sites at former residential schools are treated with the respect and protection they deserve. Kim Murray’s work has contributed significantly to telling and acknowledging the truth. There is still more to be learned, accepted and understood.

    “In line with the United Nations Declaration on the Rights of Indigenous Peoples Act and to continue the government’s efforts towards reconciliation, we will work with First Nations, Inuit and Métis communities to address the ongoing legacy of Indian Residential Schools in a way that respects their wishes and traditions.”

    Associated links

    MIL OSI Canada News –

  • MIL-OSI USA: Murphy Introduces Bipartisan Legislation to Protect Medicare for Physicians and Patients

    Source: United States House of Representatives – Representative Stephanie Murphy (D-Fla)

    Washington, D.C. — Congressman Greg Murphy, M.D. issued the following statement after introducing the bipartisan Medicare Patient Access and Practice Stabilization Act, to support physicians and protect access to care for Medicare beneficiaries. 

    “America’s physicians are at a breaking point and access to high-quality, affordable care is at risk for millions of Medicare patients,”said Congressman Greg Murphy, M.D. “When a physician sees a Medicare patient, they do so out of the goodness of their heart, not because it makes financial sense. Medical inflation is much higher and the cost of seeing patients continues to rise. Unfortunately, reimbursements continue to decline, putting immense pressure on doctors to retire, close their practices, forgo seeing new Medicare patients, or seek a less efficient employment position. This bipartisan legislation would stop yet another year of reimbursement cuts, give them a slight inflationary adjustment, and protect Medicare for physicians and patients alike.”

    “Medicare payments to physicians are just not keeping pace with our economic realities and the cost of care,” said Congressman Jimmy Panetta. “Our bipartisan legislation would not only prevent harmful cuts but also would adjust provider reimbursements for inflation.  Such a law would expand seniors’ access to quality healthcare by helping medical providers continue their care for Medicare beneficiaries.”

    “Access to quality healthcare is a something every senior deserves, but declining Medicare reimbursement is putting that access at risk,” said Congresswoman Mariannette Miller-Meeks. “The bipartisan Medicare Patient Access and Practice Stabilization Act is crucial to reversing the damaging trend of cuts that threaten our healthcare providers, especially in underserved communities. We must act now to prevent further burnout and consolidation in our system, ensuring that every Medicare beneficiary receives the care they need and deserve.”

    “Having an outdated Medicare reimbursement rate for physicians makes it harder for healthcare professionals to provide high-quality care, putting patients at risk,” said Congressman Ami Bera, M.D. “Physicians, unlike the rest of the players in health care, have never received an inflationary update and consistently received cuts. This bill ensures a more stable Medicare payment system, allowing providers to focus on delivering care rather than worrying about losing their practice. With this bipartisan effort, we are working toward a system that supports both patients and doctors.”

    “All patients deserve timely access to healthcare from quality physicians in their communities,” said Congressman Larry Bucshon, M.D. “Inadequate Medicare reimbursement threatens that access. I have long fought to correct the current trend of cutting reimbursement levels year after year, and I am proud to join my bipartisan colleagues to introduce the Medicare Patient Access and Practice Stabilization Act. The current path toward further consolidation, physician burnout, and closure of medical practices must be corrected.”

    “Over the past 22 years, adjusting for inflation, physicians have essentially taken a 26% pay cut from Medicare,” said Congresswoman Kim Schrier, M.D. “Their reimbursement has been flat or declining, while overhead costs have increased by about 47%: rent, labor, equipment, and insurance. I cannot think of another profession whose compensation has dropped by 26% over 2 decades. Physicians have been holding their breath, year after year, hoping that Congress will act to avert these devastating decreases in reimbursement. Without adequate reimbursement, solo and small practice physicians—most often in rural or underserved areas—are already closing their doors.  It’s up to Congress to ensure that physicians are fairly compensated and can continue to practice, so that all Medicare patients have access to high-quality, affordable care, and I am proud to co-sponsor legislation that will achieve just that.”

    “As a physician, I recognize that year after year cuts to Medicare reimbursement jeopardizes access to care for our nation’s seniors,” said Congressman John Joyce, M.D. “We must work in Congress to create a more sustainable long-term solution to ensure that Medicare patients continue to receive the high-quality affordable care that they deserve. While we continue this important work, I am proud to co-lead the Medicare Patient Access and Practice Stabilization Act, in order to protect access for Medicare beneficiaries and support Medicare physicians in the face of these proposed cuts.”

    “As an emergency medicine physician, I know how important it is for families and individuals I serve to have access to the necessary health care services they rely on,” said Congressman Raul Ruiz M.D. “I am deeply concerned about the impact the outdated Medicare reimbursement rate has on health care access for my constituents. That is why I am co-leading the ‘Medicare Patient Access and Practice Stabilization Act’ that will move us away from a system where every year seniors’ access to essential care is threatened due to potential cuts.”

    Background
    In July 2024, the Centers for Medicare & Medicaid Services (CMS) proposed a rule that would decrease Medicare reimbursement for physician services by 2.8% beginning on January 1, 2025. Compounded with CMS’ own estimates of a projected 3.6% increase in practice cost expenses for next year, physicians will be faced with an 6.4% cut unless Congress acts.

    According to the American Medical Association, when adjusted for inflation, Medicare reimbursement for physician services has declined 29% from 2001 to 2024. 

    Medicare reimbursement cuts for physicians have significant ripple effects across our health care system, particularly in rural and underserved areas.

    The decline in reimbursement rates, while wages and operational costs continue to rise, is forcing many physician practices to consider layoffs, reduced services, or office closure.

    At a time when we’re facing a physician shortage and a historic number of doctors are nearing retirement age, these cuts risk accelerating physician burnout and reducing access to care for Medicare patients.

    Supporting Organizations
    Academy of Nutrition and Dietetics, Academy of Orthopaedic Physical Therapy, ADVION (formerly National Association for the Support of Long Term Care), Alliance for Headache Disorders Advocacy, Alliance for Physical Therapy Quality and Innovation, Alliance of Specialty Medicine, Alliance of Wound Care Stakeholders, Ambulatory Surgery Center Association, American Academy of Audiology, American Academy of Dermatology Association, American Academy of Family Physicians, American Academy of Hospice and Palliative Medicine, American Academy of Neurology, American Academy of Ophthalmology, American Academy of Oral and Maxillofacial Pathology, American Academy of Otolaryngology–Head and Neck Surgery, American Academy of Pain Medicine, American Academy of Physical Medicine and Rehabilitation, American Academy of Sleep Medicine, American Association for the Study of Liver Diseases, American Association of Child and Adolescent Psychiatry, American Association of Hip and Knee Surgeons, American Association of Neurological Surgeons, American Association of Nurse Anesthesiology, American Association of Oral and Maxillofacial Surgeons, American Association of Orthopaedic Surgeons, American Chiropractic Association, American Clinical Neurophysiology Society, American College of Allergy, Asthma and Immunology, American College of Cardiology, American College of Chest Physicians, American College of Emergency Physicians, American College of Gastroenterology, American College of Mohs Surgery, American College of Obstetricians and Gynecologists, American College of Osteopathic Family Physicians, American College of Osteopathic Internists, American College of Physicians, American College of Radiation Oncology, American College of Radiology, American College of Rheumatology, American College of Surgeons, American Gastroenterological Association, American Geriatrics Society, American Glaucoma Society, American Health Care Association, American Medical Association, American Medical Group Association, American Medical Rehabilitation Providers Association, American Medical Women’s Association, American Occupational Therapy Association, American Optometric Association, American Osteopathic Association, American Physical Therapy Association, American Physical Therapy Association – Private Practice Section, American Podiatric Medical Association, American Psychiatric Association, American Psychological Association Services, American Society for Clinical Pathology, American Society for Dermatologic Surgery Association, American Society for Gastrointestinal Endoscopy, American Society for Radiation Oncology, American Society of Breast Surgeons, American Society of Cataract and Refractive Surgery, American Society of Colon & Rectal Surgeons, American Society of Dermatopathology, American Society of Diagnostic and Interventional Nephrology, American Society of Echocardiography, American Society of Hand Therapists, American Society of Nuclear Cardiology, American Society of Pediatric Nephrology, American Society of Plastic Surgeons, American Society of Retina Specialists, American Society of Transplant Surgeons, American Speech-Language-Hearing Association, American Urogynecologic Society, American Urological Association, Association for Clinical Oncology , Association of American Medical Colleges, Association of Clinicians for the Underserved, Association of Diabetes Care & Education Specialists, Association of Women in Rheumatology, Brain Injury Association of America, California Medical Association, CardioVascular Coalition, Clinical Social Work Association, Coalition of State Rheumatology Organizations, College of American Pathologists, Community Oncology Alliance (COA), Congress of Neurological Surgeons, Dialysis Vascular Access Coalition, Digestive Health Physicians Association, Digestive Health Physicians Association, Emergency Department Practice Management Association, Endocrine Society, Federation of American Hospitals, Free2care, Healthcare Business Management Association, Heart Failure Society of America, Heart Rhythm Society, Indiana Associations Pathologists, Infectious Diseases Society of America, Infusion Providers Alliance, LUGPA, Massachusetts Medical Society, Medical Group Management Association, National Association of ACOs, National Association of Rehabilitation Providers and Agencies, National Association of Spine Specialists, National Infusion Center Association, National Rural Health Association, North Carolina Rheumatology Association, Office-Based Facility Organization, Outpatient Endovascular and Interventional Society, Pediatrix Medical Group, Inc., Physician-Led Healthcare for America, Physicians Advocacy Institute, Post-Acute and Long-Term Care Medical Association, Practicing Physicians of America, Renal Physicians Association, Society for Cardiovascular Angiography and Interventions, Society for Vascular Surgery, Society of American Gastrointestinal and Endoscopic Surgeons, Society of General Internal Medicine, Society of Gynecologic Oncology, Society of Hospital Medicine, Society of Interventional Radiology, Society of Thoracic Surgeons, Texas Medical Association, and the US Oncology Network.

    MIL OSI USA News –

  • MIL-Evening Report: Gender is playing a crucial role in this US election – and it’s not just about Kamala Harris

    Source: The Conversation (Au and NZ) – By Carol Johnson, Emerita Professor, Department of Politics and International Relations, University of Adelaide

    Having a female presidential candidate has made gender obvious in this US presidential election, even to many who normally neglect its role. The specific contest between Kamala Harris and Donald Trump, along with the prominence of issues such as abortion, has resulted in a particularly large gender voting gap. Far more women have consistently indicated support for Harris and far more men for Trump.

    However, gender has always been crucial in US presidential elections, not just because of gender voting patterns but because competing performances of masculinity have always played a major role.

    Role of masculinity in 2020 election

    The last presidential election saw Joe Biden’s form of kind and caring protective masculinity being explicitly contrasted with Trump’s divisive, hyper-masculine one.

    Furthermore, strong male leaders are meant to protect the people from physical, social and economic harm. I have argued that one factor that contributed to Trump’s 2020 electoral defeat was a protective masculinity failure, especially in regard to COVID.

    For example, former President Barack Obama argued that, unlike Biden, Trump could not be counted on to protect Americans:

    Eight months into this pandemic, new cases are breaking records. Donald Trump isn’t going to suddenly protect all of us. He can’t even take the basic steps to protect himself […]. Joe understands […] that the first job of a president is to keep us safe from all threats: domestic, foreign, and microscopic.

    Trump’s re-energised protective masculinity

    However, since his 2020 electoral defeat, Trump has resurrected himself as a strong masculine protector. He claims that “our enemies” are trying to use legal charges to take away his freedom and silence him because he “will always stand” in the way of their attempt to silence the American people and take away their freedom.

    He will also be a vengeful protector, declaring:

    I am your warrior. I am your justice. And for those who have been wronged and betrayed: I am your retribution. I will totally obliterate the deep state.

    Trump has long appealed to men who feel that traditional masculinity, and its related entitlements, are under threat.

    He is currently courting white males, the youth manosphere, “techno bros”, “crypto bros”, conservative male unionists threatened by globalisation and offshoring, and conservative black and Latino men.

    He has been explicitly mobilising misogyny, including by making lewd references to Harris. JD Vance has assisted Trump’s efforts.

    Nonetheless, Trump claims that he will be a strong male protector of women, protecting them from illegal immigrants, crime, foreign threats and other anxieties:

    You will be protected and I will be your protector. Women will be happy, healthy, confident and free.

    Trump has even promised that, as a result, women “will no longer be thinking about abortion.” This is all despite his own alleged history of sexual assault.

    Harris, gender and the women’s vote

    By 2024, Biden’s apparent physical and cognitive decline meant that he was no longer a convincing masculine protector (or viable ongoing presidential candidate).

    The choice of Harris as his replacement candidate had advantages, but it was also a gamble given the combined roles of gender and race. After all, despite the long history of US racism, it still proved easier to elect a black man (Obama) to the presidency than a white woman (Hillary Clinton).

    However, the women’s vote is particularly important this election. As well as Harris’ appeal to younger and black women, Democrats have emphasised the importance of her appeal to white women, including some who previously voted Republican. Anti-Trump Republicans such as Liz Cheney are assisting Harris in appealing to the latter.

    Issues such as abortion are crucial. The overturning of Roe v Wade abortion rights, enabled by Trump stacking the Supreme Court, also puts IVF at risk by not clarifying when life begins (with implications for frozen embryos). Senate Republicans have twice blocked a vote on a Democrat-led bill designed to protect IVF. Harris has pledged to sign a law protecting abortion rights (if Congress passes it).

    Trump claims he supports IVF, won’t bring in a national ban on abortion and believes in abortion “exceptions for rape, incest, and life of the mother”.

    However, Trump Republicans are courting, and influenced by, the American religious right on abortion. There aren’t such exceptions in several Republican states, as Harris’s heartrending accounts of the impact on women and their health reveals. Furthermore, Missouri, Kansas and Idaho are also trying to drastically reduce legal access to the abortion drug mifepristone.

    Harris also emphasises other issues of particular significance for women, such as affordable childcare and better pay for care workers.

    Harris and “tonic” masculinity

    Given the role of competing masculinities in US presidential elections, Harris’ campaign has intentionally appealed to a very different form of protective masculinity from Trump’s.

    Vice presidential candidate, Tim Walz’s, “America’s dad” image (of being a warm, caring but sports loving coach, national guard serving, gun owning, hunter) is used to contrast his “tonic masculinity” with Trump’s “toxic” masculinity. Harris’s husband, Doug Emhoff, is depicted as a supportive “wife-guy” who has “reshaped the perception of masculinity” (while strongly denying allegations he once slapped a woman).

    Despite conservative claims of men being economically left behind, the Biden/Harris administration argues it has revitalised manufacturing and male jobs along with it and Harris will continue to do so. Meanwhile, Obama has urged black men to get behind Harris and the Harris campaign has highlighted its policies benefiting black men.

    Can Harris mobilise protective femininity?

    Given the major role of gender in US presidential elections, a key issue is whether Harris can successfully evoke a caring, motherly, protective femininity that promises security and economic benefits to voters and helps to counter Trump’s protective masculinity.

    Other women politicians have been able to (for example, Germany’s Angela Merkel). Women leaders particularly mobilised protective femininity during the COVID health crisis (for example, New Zealand’s Jacinda Ardern). However, it always seemed likely masculinist leadership stereotypes would re-emerge once the economy needed rebuilding after the pandemic.

    Harris has pledged she will “create an opportunity economy” and “protect our fundamental rights and freedoms, including the right of a woman to make decisions about her own body and not have her government tell her what to do”. She promises to be the kind of president “who cares about you and is not putting themselves first”. Whether such electoral pitches are successful remains to be seen.

    Why the outcome of this election is crucial for gender equality.

    A woman US president is long overdue after 46 male ones. A Trump victory would have major implications for abortion, IVF and women’s rights generally, including progress on the Biden/Harris National Strategy on Gender Equity and Equality. Immigrant and black women will be particularly vulnerable. A Trump victory would also have major implications for which models of masculinity are publicly endorsed.

    A Trump victory would embolden conservative so-called anti-gender ideology campaigns. The Trump campaign has recently spent US $21 million (A$31.9 million) on ads associating Harris with LGBTIQ+ equality, especially transgender rights.

    The Trump campaign asserts that “Kamala’s for they/them. President Trump is for you.” While Trump has also pledged that “we will get critical race theory and transgender insanity the hell out of our schools.”

    A Trump victory will influence the future US economy, including risking increasing gender inequality in an Elon Musk-style unregulated technopoly.

    Finally, academic commentators have drawn attention to the way in which socially conservative views on gender have been mobilised to support new forms of authoritarian regimes in Europe and elsewhere.

    In short, this presidential election is a crucial one for the American people generally, but for the female half of the population in particular.

    Carol Johnson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Gender is playing a crucial role in this US election – and it’s not just about Kamala Harris – https://theconversation.com/gender-is-playing-a-crucial-role-in-this-us-election-and-its-not-just-about-kamala-harris-242113

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Money Market Operations as on October 28, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 559,669.89 6.45 5.00-6.75
         I. Call Money 9,351.89 6.62 5.10-6.75
         II. Triparty Repo 407,058.50 6.43 6.11-6.60
         III. Market Repo 142,040.79 6.52 5.00-6.70
         IV. Repo in Corporate Bond 1,218.71 6.69 6.65-6.75
    B. Term Segment      
         I. Notice Money** 209.50 6.43 6.10-6.65
         II. Term Money@@ 489.50 – 6.50-7.05
         III. Triparty Repo 2,536.00 6.42 6.35-6.55
         IV. Market Repo 2,134.85 6.53 6.45-6.57
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 28/10/2024 1 Tue, 29/10/2024 1,648.00 6.75
    4. SDFΔ# Mon, 28/10/2024 1 Tue, 29/10/2024 103,800.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -102,152.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 18/10/2024 13 Thu, 31/10/2024 20,073.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo Fri, 25/10/2024 6 Thu, 31/10/2024 25,005.00 6.55
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,696.81  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     17,168.81  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -84,983.19  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 28, 2024 1,010,098.68  
         (ii) Average daily cash reserve requirement for the fortnight ending November 01, 2024 1,016,726.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 28, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 04, 2024 488,495.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1389

    MIL OSI Economics –

  • MIL-OSI: IDEX Biometrics interim report for the third quarter of 2024

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway – 29 October 2024 – IDEX Biometrics ASA’s interim report for the third quarter is attached to this notice (link below). The interim report is also available on the IDEX Biometrics website: www.idexbiometrics.com/investors/interim-results/

    A webcast presentation of the interim report will be held by Catharina Eklof, Chief Executive Officer, today at 09:00 CET. The webcast presentation is attached to this notice (link below), and can be viewed at the following link:

    https://idexbiometrics.videosync.fi/q3-2024

    “Transitioning into the CEO role this quarter, my focus has been on executing our transformation program and implementing key initiatives to achieve the targeted cash quarterly operating expense run rate of $2.5 million. By the end of the third quarter, IDEX had executed on targeted reorganization initiatives, significantly reducing operating expenses. We have consolidated our technology and administrative teams into the UK and Europe, and optimized our entire workforce to capture the fast growing opportunity across the APAC region.” Said Catharina Eklof, Chief Executive Officer at IDEX Biometrics.

    Ms. Eklof added, “On the customer side, we continue to expand our manufacturing partners and solution integrators with our open software platforms and flexible operating system. Focus over the last quarters has been on supporting manufacturers from certification to industrialized production. As a result, KONA I has achieved Mastercard approval for the world first metal biometric card, based on the IDEX Pay platform. A first commercial program is now in the planning phase of being rolled out in Asia.”

    In September, IDEX demonstrated a successful live transaction on the India based RuPay network with IDEX Pay, together with our manufacturing partners. This is a leading indicator of the IDEX biometric platform readiness to bring trusted identity solutions to consumers around the world.

    Financials:

    • Revenues in the third quarter totaled $0.1M.
    • Net Income in Q3 was $1.4M with Adjusted Net Loss of $4.8M. Adjustments are related to the restructuring charges and the derivative value changes.
    • Operating expenses reduced to $4.1M, a reduction of $2.0M from last quarter.
    • Restructuring cost during Q3 were $0.4M including severance and other items.  Restructuring gain of $0.7M resulting from two lease cancellations.
    • On track to achieve a cash operating run-rate of $2.5M per quarter by the end of this year.
    • Recorded a gain of $5.5M from a change in the derivative value related to outstanding warrants and the favorable renegotiation of our outstanding convertible bond.

    For further information contact:
    Marianne Bøe, Head of Investor Relations
    E-mail: ir@idexbiometrics.com
    Tel: + 47 67 83 91 19

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. 

    For more information, visit www.idexbiometrics.com

    TRADEMARK STATEMENT
    IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    Attachments

    The MIL Network –

  • MIL-OSI Russia: To the participants and organizers of the 30th International Industrial Exhibition “Metal-Expo”

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The exhibition will be held from October 29 to November 1 in Moscow.

    Dear colleagues!

    I am pleased to welcome the participants and organizers of the 30th anniversary International Industrial Exhibition “Metal-Expo”.

    Over three decades, it has become an important platform for exchanging experience and holding negotiations between leading steel companies and consumers of their products, equipment manufacturers and technological innovators. This year, about a thousand enterprises from the CIS and far abroad countries, including China, India, Iran, Turkey and the European Union, are represented here.

    Today, the domestic metallurgical industry, having successfully adapted to the sanctions pressure, is implementing large-scale plans and is actively developing. According to the results of last year, its growth exceeded 3 percent. High demand for products is largely due to housing and road construction, modernization of public infrastructure and utility networks. This year, the Moscow-St. Petersburg high-speed railway project was launched, the expansion of the BAM and the Trans-Siberian Railway, the federal highway M-12 “East” continues, dozens of river and sea vessels for various purposes are being built at shipyards across the country. The restoration of automobile production is gaining momentum – from January to June, the output of trucks increased by 21 percent, cars – three times more. And this is an additional hundreds of thousands of tons of various types of rolled and cast products.

    In many ways, these results were facilitated by the implementation of the Strategy for the Development of the Metallurgical Industry until 2030, prepared on the instructions of the head of state. Work is being carried out in three main areas – deepening processing and mastering high value added processes, providing critical raw materials and stimulating domestic demand, as well as reorienting exports to the markets of friendly countries.

    The President emphasized that the industry is becoming more and more high-tech year after year. Advanced engineering and production solutions are being actively implemented, and unique alloys are being developed that allow for the creation of materials with special properties. All this opens up new and broad opportunities in various fields – from aviation and cosmonautics to electronics and medicine.

    I am confident that the exhibition and the professional competitions, conferences and seminars planned within its framework will allow us to find answers to the most difficult questions, discuss new challenges and opening prospects.

    I wish all participants and organizers constructive discussions and success.

    M. Mishustin

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: PM to visit Gujarat on 30-31 October

    Source: Government of India

    PM to visit Gujarat on 30-31 October

    PM to participate in Rashtriya Ekta Diwas celebrations

    PM to inaugurate and lay the foundation stone of various infrastructural and development projects worth over Rs 280 crore in Ekta Nagar

    PM to address the Officer Trainees of the 99th Common Foundation Course in Aarambh 6.0

    Posted On: 29 OCT 2024 3:35PM by PIB Delhi

    Prime Minister Shri Narendra Modi will visit Gujarat on 30-31 October. On 30th October, he will travel to Ekta Nagar, Kevadia and at around 5:30 PM, he will inaugurate and lay the foundation stone of various infrastructural and development projects worth over Rs 280 crore in Ekta Nagar. Thereafter, at around 6 PM, he will address the Officer Trainees of the 99th Common Foundation Course in Aarambh 6.0. On 31st October, at around 7:15 AM, Prime Minister will offer floral tribute at the Statue of Unity, which will be followed by Rashtriya Ekta Diwas celebrations.

    Prime Minister will inaugurate and lay the foundation stone of various infrastructural and development projects in Ekta Nagar. These projects aim to enhance the tourist experience, improve accessibility and support sustainability initiatives in the area.

    Prime Minister will address the Officer Trainees of the 99th Common Foundation Course on the eve of the Rastriya Ekta Diwas in Aarambh 6.0. The theme for this year’s programme is “Roadmap for Aatmanirbhar and Viksit Bharat.” The 99th Common Foundation Course – Aarambh 6.0 – includes 653 Officer Trainees from across 16 civil services of India and 3 civil services of Bhutan.

    On 31st October, Prime Minister will participate in the Rashtriya Ekta Diwas celebrations and offer floral tribute to Sardar Vallabhbhai Patel. He will administer the Ekta Diwas pledge and witness Ekta Diwas Parade which will comprise of 16 marching contingents from 9 States and 1 UT Police, 4 Central Armed Police Forces, NCC and a marching band. Special attractions include Hell March contingent of NSG, daredevil show by BSF and CRPF women and men bikers, a show on combination of Indian Martial Arts by BSF, piped band show by school children, ‘Surya Kiran’ flypast by Indian Air Force, among others.

     

    ***

    MJPS

    (Release ID: 2069191) Visitor Counter : 8

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Rajasthan village marches towards zero-waste through green technology interventions

    Source: Government of India (2)

    Posted On: 29 OCT 2024 3:11PM by PIB Delhi

    Aandhi, a tiny village in the district of Jaipur, and about 43 Km from Rajasthan’s capital city of Jaipur is transforming itself to a zero-waste model with the help of green technology interventions.

    Food waste, agro waste, waste water, hospital waste coming from various village sources including institutions like schools, agricultural fields, community health centres could now be converted to resources with the help of a package of technology interventions that have been recently installed in the village.

    The package of technology interventions consisting of Organic Waste Bio-Methanation Plant, Vermifiltration Technology, Constructed Wetlands, resource recovery centre, stands as a unique and socially relevant initiative, creating a zero-waste model through the integration of innovative technologies.  

    Recently, the demonstration plants were inaugurated at three identified locations—a government school, a community health centre, and the constructed wetland at the main pond. It was graced by Dr. Anita Gupta, Head of the Climate, Energy, and Sustainable Technology (CEST) Division, along with Dr. G.V Raghunath Reddy, the Programme Officer.

    The Organic Waste Bio-Methanation Plant at Government School (100 Kg Capacity) converts organic waste, such as food scraps and agricultural residues, into biogas through anaerobic digestion. Equipped with a 5 KW solar energy system. It provides clean energy for cooking and electricity generation, reducing reliance on traditional fuels and promoting renewable energy, cleaner air, and lower greenhouse gas emissions.

    Utilizing earthworms to filter and treat wastewater, the Vermifiltration Technology at the Community Health Center (10 KLD Capacity) makes it suitable for purifying greywater and sewage. The treated water can be reused for agricultural irrigation or landscape watering. Solar energy integration in this patented technology ensures an eco-friendly and energy-efficient wastewater management process, contributing to sustainable water reuse and environmental conservation.

    The Constructed Wetlands at the Main Pond in Aandhi Village (20 KLD Capacity) replicate natural wetland processes to treat wastewater and restore ecosystems. This system will help manage village wastewater while enhancing biodiversity, supporting local flora and fauna, and improving the overall health of the pond ecosystem.

    Partnerships have been established with recycling agencies for the collection and segregation of recyclable waste from the Resource Recovery Center (RRC), ensuring its proper disposal and recycling. Vermicomposting units have also been developed, and the techniques have been disseminated among the villagers for their utilization.

    These initiatives demonstrate the transformative power of green technology in rural communities, showcasing DST’s commitment to promoting innovation and environmental stewardship. The project aligns closely with India’s broader goals of achieving environmental sustainability, mitigating climate change, and promoting waste-to-wealth models that uplift local communities.

    By leveraging advanced green technologies, the project aims to create a self-sustaining model of zero-waste management that can be replicated in other rural areas across the country, contributing to a cleaner, greener, and more sustainable future for all.

    Such interventions could potentially offer a good prospect to be replicated across various villages creating a new pathway for India to march towards a development led inclusive and sustainable net Zero nation.

     

     

    ***

    NKR/KS/AG

    (Release ID: 2069178) Visitor Counter : 56

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi launches, inaugurates and lays the foundation stone of multiple projects related to health sector worth over Rs 12,850 crore

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi launches, inaugurates and lays the foundation stone of multiple projects related to health sector worth over Rs 12,850 crore

    Augmenting the healthcare infrastructure is our priority, Initiatives relating to the sector launched today will make top-quality and affordable facilities available to the citizens:PM

    It is a matter of happiness for all of us that today Ayurveda Day is being celebrated in more than 150 countries: PM

    Government has set five pillars of health policy:PM

    Now every senior citizen of the country above the age of 70 years will get free treatment in the hospital,Such elderly people will be given Ayushman Vaya Vandana Card:PM

    Government is running Mission Indradhanush campaign to prevent deadly diseases: PM

    Our government is saving the money of the countrymen by making maximum use of technology in the health sector: PM

    Posted On: 29 OCT 2024 3:09PM by PIB Delhi

    On the occasion of Dhanvantari Jayanti and 9th Ayurveda Day, the Prime Minister, Shri Narendra Modi today launched, inaugurated and laid the foundation stone for multiple projects related to the health sector worth around Rs 12,850 crore at All India Institute of Ayurveda (AIIA) in New Delhi.

    Addressing the gathering, the Prime Minister noted the occasion of Dhanvantari Jayanti and Dhanteras and conveyed his best wishes on the occasion. He conveyed his wishes to all business owners of the country as most people tend to buy something new for their homes, and also extended advanced greetings for Diwali.

    The Prime Minister underlined that this Diwali is a historic one as Lord Shri Ram’s temple in Ayodhya will be lit up with thousands of diyas, making the celebrations unprecedented. “Lord Ram has once again returned to his abode in this year’s Diwali”, the Prime Minister remarked, adding that this wait is finally over not after 14 but 500 years. 

    Shri Modi said that it is no coincidence that this year’s festival of Dhanteras is an amalgamation of prosperity and health but a symbol of India’s culture and philosophy of life. Quoting sages and saints, the Prime Minister explained that health is considered supreme wealth and this ancient notion is finding acceptance across the world in the form of Yoga. Shri Modi expressed happiness that Ayurveda Diwas is being celebrated in more than 150 countries today and said that it is proof of the growing attraction towards Ayurveda, and India’s contribution to the world from its ancient past. 

    The Prime Minister underscored that in the past decade, the country had witnessed the beginning of a new chapter in the health sector with the amalgamation of knowledge of  Ayurveda with Modern medicine. He added that All India Institute of Ayurveda had been a focal point of this chapter. Shri Modi remarked that seven years ago on Ayurveda day, he was fortunate to dedicate the first phase of the institute to the country and today with the blessings of Lord Dhanvantri, he was inaugurating the second phase of the institute. He noted that it would be possible to see the  ancient techniques like Panchakarma infused with modern technology in this institute along with advanced research studies in the fields of Ayurveda and medical science. Shri Modi congratulated the citizens of India for this advancement. 

    Noting that the progress of a nation is directly proportional to the health of its citizens, the Prime Minister highlighted the government’s priority to the health of its citizens and outlined the five pillars of health policy. He listed the five pillars as preventive healthcare, early detection of ailments, free and low-cost treatment and medicines, availability of doctors in small towns and lastly expansion of technology in health services. “India is looking at the health sector as holistic health”, Shri Modi said, adding that the projects of today provide a glimpse of these five pillars. Touching upon the inauguration and foundation stone laying of projects worth more than Rs 13,000 crore, the Prime Minister mentioned creation of 4 centers of excellence under Ayush Health scheme, expansion of health services with the use of drones, helicopter service in AIIMS, Rishikesh, new infrastructure in AIIMS, New Delhi and AIIMS, Bilaspur, expansion of services in five other AIIMS in the country, establishment of medical colleges, bhoomi pujan of nursing colleges and other projects related to the health sector.The Prime Minister expressed happiness with several hospitals being established for the treatment of shramiks and said that it would become a center of treatment for shramiks. He also touched upon the inauguration of pharma units that would play a key role in manufacturing of advanced medicine and high quality stents and implants and further India’s growth. 

    The Prime Minister noted that most of us come from a background where illness meant a lightning strike on the entire family and especially in a poor household if a person is down with serious ailment, every member of the family was deeply affected. He added that there was a time when people would sell their houses, lands, jewelry, everything for treatment and be unable to bear the huge out-of-pocket expenditure while poor people had to make a choice between healthcare and other priorities of family. Shri Modi underlined that to overcome the despair of the poor, our Government introduced the Ayushman Bharat Yojana, where the government would bear the cost of hospitalization of the poor up to Rs. 5 lakh. The Prime Minister expressed satisfaction that about 4 crore poor people in the country have benefited from the Ayushman Yojana by getting treated without having to pay a single rupee. Shri Modi remarked that when he meets the beneficiaries of Ayushman Yojana in different states of the country, he feels satisfied that the scheme was a blessing for every person associated with it, be it a doctor or a paramedical staff. 

    Expressing satisfaction on the expansion of Ayushman Yojana, Shri Modi said that every elderly person was looking forward to it and the poll guarantee, if elected for the third term, of bringing all the elderly above 70 years of age under the ambit of Ayushman Yojana was being fulfilled. He added that every elderly person above 70 years of age in the country will get free treatment in the hospital by a Ayushman Vaya Vandana Card. Shri Modi highlighted that the card was universal and there was no restriction on income, be it poor or middle class or upper class. Informing that the scheme would prove to be a milestone for its universal applicability, Shri Modi remarked that with a Ayushman Vaya Vandana card for an elderly in the house, the Out-of-Pocket expenditure will be reduced to a great extent. He congratulated all the countrymen for this scheme and also informed that the scheme was not implemented in Delhi and West Bengal.

    Reiterating the government’s priority to reduce the cost of treatment, be it the poor or middle class, the Prime Minister mentioned the launch of more than 14,000 PM Jan Aushadhi Kendras across the country where medicines are available at 80 percent discount. He informed that the poor and middle class have managed to save Rs 30,000 crore due to availability of cheap medicines. He further added that prices of devices like stents and knee implants have been reduced, therefore, preventing a loss of more than Rs 80,000 crores rupees by the common citizens. He also mentioned the free dialysis scheme and Mission Indradhanush campaign to prevent fatal diseases and saving the lives of pregnant women and newborn babies. The Prime Minister assured that he will not rest until the poor and middle class of the country are free from the burden of expensive treatment. 

    The Prime Minister emphasized the importance of timely diagnosis in reducing the risks and inconveniences associated with illnesses. He highlighted that over two lakh Ayushman Arogya Mandirs have been established across the country to facilitate early diagnosis and treatment. He said that these Arogya Mandirs enable crores of citizens to easily check for diseases like cancer, hypertension, and diabetes. He said that timely diagnosis leads to prompt treatment, ultimately saving costs for patients. The Prime Minister explained that the government is leveraging technology to enhance healthcare and save citizens’ money under the e-Sanjeevani scheme where over 30 crore people have consulted doctors online. “Free and accurate consultations from doctors have significantly reduced healthcare expenses”, he added. Shri Modi announced the launch of the U-win platform which will provide India with a technologically advanced interface in the health sector. “The world witnessed the success of our Co-win platform during the pandemic, and the success of the UPI payment system has become a global story,” he said, adding that India aims to replicate this success in the healthcare sector through Digital Public Infrastructure. 

    The Prime Minister highlighted the unprecedented progress made in India’s healthcare sector over the past decade, contrasting it with the limited achievements in the previous six to seven decades and said, “In the last 10 years, we have seen a record number of new AIIMS and medical colleges being established”. Referring to today’s occasion, the Prime Minister said that hospitals were inaugurated in Karnataka, Uttar Pradesh, Madhya Pradesh, and Andhra Pradesh. He also mentioned the foundation stone laying for new medical colleges in Narsapur and Bommasandra in Karnataka, Pithampur in Madhya Pradesh, Achitapuram in Andhra Pradesh, and Faridabad in Haryana. “Additionally, work has begun on the new ESIC Hospital in Meerut, Uttar Pradesh, and a new hospital was inaugurated in Indore”, he added. The Prime Minister emphasized that the increasing number of hospitals reflects a proportional rise in medical seats. He affirmed that no poor child’s dream of becoming a doctor would be shattered, and no middle-class student would be forced to study abroad due to lack of options in India. Shri Modi informed that nearly 1 lakh new MBBS and MD seats have been added over the past 10 years and reiterated the commitment to announcing another 75,000 seats in the next five years. 

    The Prime Minister informed that 7.5 lakh registered AYUSH practitioners are already contributing to the nation’s healthcare. He stressed on increasing this number further and highlighted the growing demand for medical and wellness tourism in India. He stressed the need for the youth and AYUSH practitioners to prepare for expanding fields such as preventive cardiology, Ayurvedic orthopedics, and Ayurvedic rehabilitation centers, both in India and abroad. “Immense opportunities are being created for AYUSH practitioners. Our youth will not only progress themselves through these opportunities but will also render a great service to humanity”, he added. 

    PM Modi noted the rapid progress in medicine during the 21st century, with breakthroughs in treatments for previously incurable diseases. He said, “As the world places importance on wellness along with treatment, India has thousands of years of knowledge in this area.” The Prime Minister announced the launch of the Prakriti Parikshan Abhiyan aimed at designing ideal lifestyles and risk analysis for individuals using Ayurveda principles. He emphasized that this initiative can redefine the healthcare sector globally and provide a new perspective for the entire world. 

    Prime Minister Modi underscored the importance of validating traditional herbs like Ashwagandha, turmeric, and black pepper through high-impact scientific studies. “Lab validation of our traditional healthcare systems will not only increase the value of these herbs but also create a significant market”, he remarked, pointing to the rising demand for Ashwagandha, which is projected to reach $2.5 billion by the end of this decade. 

    Underlining that the success of AYUSH is transforming not only the health sector but also the economy, the Prime Minister informed that the AYUSH manufacturing sector has grown from $3 billion in 2014 to nearly $24 billion today, an 8-fold increase in just 10 years. He added that over 900 AYUSH start-ups are now operational in India, creating new opportunities for the youth. The Prime Minister highlighted the global export of AYUSH products to 150 countries, benefiting Indian farmers by turning local herbs and superfoods into global commodities. He also pointed out initiatives like the Namami Gange project, which promotes natural farming and herb cultivation along the Ganga river.

    Reflecting on India’s commitment to health and well-being, Shri Modi said that it is the soul of India’s national character and social fabric. He emphasized that the government in the last 10 years has aligned the nation’s policies with the philosophy of ‘Sabka Saath, Sabka Vikas.’ “In the next 25 years, these efforts will lay a strong foundation for a developed and healthy India”, Shri Modi concluded. 

    Union Minister for Health and Family Welfare & Chemicals & Fertilizers, Shri J P Nadda, and Minister of Labour and Employment & Youth Affairs and Sports, Dr Mansukh Mandaviya were present on the occasion among others.

    Background

    As a major addition to the flagship scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), the Prime Minister launched expansion of health coverage to all senior citizens aged 70 years and above. This will help provide health coverage to all senior citizens regardless of their income.

    It has been the constant endeavor of the Prime Minister to provide quality healthcare services all across the country. In a major boost to healthcare infrastructure, the Prime Minister inaugurated and laid the foundation stone of multiple healthcare institutions.

    The Prime Minister inaugurated Phase II of India’s First All India Institute of Ayurveda. It includes a Panchakarma hospital, an Ayurvedic pharmacy for drug manufacturing, a sports medicine unit, a central library, an IT and start-ups incubation center and a 500-seat auditorium among others. He also inaugurated three medical colleges at Mandsaur, Neemuch and Seoni in Madhya Pradesh. Further, he inaugurated facility and service extensions at various AIIMS in Bilaspur in Himachal Pradesh, Kalyani in West Bengal, Patna in Bihar, Gorakhpur in Uttar Pradesh, Bhopal in Madhya Pradesh, Guwahati in Assam and in New Delhi, which will also include a Jan Aushadhi Kendra. The Prime Minister also inaugurated a Super Speciality Block in Government Medical College at Bilaspur in Chhattisgarh and a Critical Care Block in Bargarh, Odisha.

    The Prime Minister also laid the foundation stone of five Nursing Colleges in Shivpuri, Ratlam, Khandwa, Rajgarh and Mandsaur in Madhya Pradesh; 21 Critical Care Blocks at Himachal Pradesh, Karnataka, Manipur, Tamil Nadu and Rajasthan under Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) and several facilities and service extensions at AIIMS in New Delhi and in Bilaspur, Himachal Pradesh.

    The Prime Minister also inaugurated an ESIC Hospital at Indore in Madhya Pradesh, and lay the foundation stone for ESIC hospitals at Faridabad in Haryana, Bommasandra and Narasapur in Karnataka, Indore in Madhya Pradesh, Meerut in Uttar Pradesh, and Atchutapuram in Andhra Pradesh. These projects will bring healthcare benefits to around 55 lakh ESI beneficiaries.

    The Prime Minister has been a strong proponent of expanding the usage of technology to enhance service delivery across sectors. In an innovative usage of drone technology to enhance service delivery to make healthcare more accessible, the Prime Minister launched drone services at 11 Tertiary Healthcare Institutions. These are AIIMS Rishikesh in Uttarakhand, AIIMS Bibinagar in Telangana, AIIMS Guwahati in Assam, AIIMS Bhopal in Madhya Pradesh, AIIMS Jodhpur in Rajasthan, AIIMS Patna in Bihar, AIIMS Bilaspur in Himachal Pradesh, AIIMS Raebareli in Uttar Pradesh, AIIMS Raipur in Chhattisgarh, AIIMS Mangalagiri in Andhra Pradesh and RIMS Imphal in Manipur. He will also launch Helicopter Emergency Medical Services from AIIMS Rishikesh, which will help deliver speedy medical care.

    The Prime Minister launched the U-WIN portal. It will benefit pregnant women and infants by fully digitalizing the vaccination process. It will ensure timely administration of life-saving vaccines to pregnant women and children (from birth to 16 years) against 12 vaccine-preventable diseases. Further, the Prime Minister also launched a portal for allied and healthcare professionals and institutes. It will act as a centralized database of existing healthcare professionals and institutes.

    The Prime Minister launched several initiatives to strengthen the R&D and testing infrastructure to improve the healthcare ecosystem in the country. The Prime Minister inaugurated a Central Drugs Testing Laboratory in Gothapatna in Bhubaneswar, Odisha.

    He laid the foundation stone of two Central Research Institutes in Yoga and Naturopathy at Khordha in Odisha, Raipur in Chhattisgarh. He also laid the foundation stone of four Centres of Excellence at NIPER Ahmedabad in Gujarat for medical devices, NIPER Hyderabad in Telangana for bulk drugs, NIPER Guwahati in Assam for phytopharmaceuticals, and NIPER Mohali in Punjab for anti-bacterial anti-viral drug discovery and development.

    The Prime Minister launched four Ayush Centres of Excellence, namely Centre of Excellence for diabetes and metabolic disorders at Indian Institute of Science, Bengaluru; Centre of Excellence in sustainable Ayush for advanced technological solutions, start-up support and net zero sustainable solutions for Rasaushadhies at IIT Delhi; Centre of Excellence for fundamental and translational research in Ayurveda at Central Drug Research Institute, Lucknow; and Centre of Excellence on Ayurveda and Systems Medicine at JNU, New Delhi.

    In a major boost to Make in India initiative in the healthcare sector, Prime Minister inaugurated five projects under the Production Linked Incentive (PLI) scheme for medical devices and bulk drugs at Vapi in Gujarat, Hyderabad in Telangana, Bengaluru in Karnataka, Kakinada in Andhra Pradesh and Nalagarh in Himachal Pradesh. These units will manufacture high-end medical devices, such as body implants and critical care equipment, along with important bulk drugs.

    The Prime Minister also launched a nationwide campaign, “Desh Ka Prakriti Parikshan Abhiyan,” that aims to raise health awareness among the citizens. He also launched the State specific Action Plan on Climate Change and Human Health for each state and UT which will lay out adaptation strategies towards developing climate resilient healthcare services.

     

     

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  • MIL-OSI Asia-Pac: Magic recipes to create hydrogels from viral protein fragments can improve drug delivery

    Source: Government of India (2)

    Posted On: 29 OCT 2024 3:03PM by PIB Delhi

    A new way discovered to create hydrogels using tiny protein fragments of just five amino acids from the SARS-CoV-1 virus, could help improve targeted drug delivery & reduce side effects

    Due to the increase in chronic and infectious diseases, researchers are for ever on the lookout for new methods of drug delivery to improve the effectivity of treatments. Hydrogels are known to be suitable for drug delivery because of their swelling behaviour, mechanical strength and biocompatibility.

    Short peptide-based hydrogels hold enormous potential for a wide range of applications. However, researchers have found the gelation of these systems very challenging to control. Minor changes in the peptide sequence can significantly influence the self-assembly mechanism and thereby the gelation propensity.

    Following the involvement of SARS CoV E protein in the assembly and release of the virus suggested to researchers from Bose Institute an autonomous institute of the Department of Science and Technology (DST) in Kolkata that it may have inherent self-assembling properties that can contribute to the development of hydrogels.

    Professor Anirban Bhunia and his team at the Department of Chemical Sciences in Bose Institute, explored this possibility and discovered a new way to create useful gel materials.

    In a paper recently published in the prestigious journal Small (Wiley), Prof. Bhunia and his collaborators from the Indian Institute of Science, Bangalore, University of Texas Rio Grande Valley, USA and Indian Association for the Cultivation of Science, Kolkata showed that by rearranging just five amino acids of the SARS-CoV-1 virus, one can make gels made up of pentapeptides with unique properties. Some of them gel when heated, others at room temperature.

    This unique discovery could lead to significant medical advancements like customizable hydrogels that can improve targeted drug delivery enhancing treatment efficacy while reducing side effects.

    These materials could revolutionize tissue engineering, potentially aiding in organ regeneration. These gels might also advance wound healing treatments and enable more accurate disease modelling for research.          

     

     

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  • MIL-OSI Asia-Pac: Indigenous Transponders Become Lifeline for Fishermen During Cyclone DANA

    Source: Government of India

    Posted On: 29 OCT 2024 2:31PM by PIB Delhi

    The Department of Fisheries under the Ministry of Fisheries, Animal Husbandry, and Dairying (MoFAH&D) with the help of the Vessel Communication and Support System under the Pradhan Mantri Matsya Sampada Yojana has been able to enhance the safety and security of fishermen at sea. Launched by Prime Minister Shri Narendra Modi, from Palghar, Maharashtra on 30th August, 2024 this project has an outlay of ₹364 crores. These transponders are being given to the fishermen free of cost. This initiative of MoFAH&D for Vessel Communication and Support System, featuring indigenous transponder technology, has demonstrated its capability in safeguarding fishermen during Cyclone DANA. This system aims to ensure safety and security of the fishermen while at sea for fishing by enabling them for two-way communication which was not possible before induction of this technology beyond mobile coverage range. Government of India has planned to install indigenously developed transponders on One Lakh fishing vessels in all 13 coastal states and UTs.  This technology was developed by Indian Space Research Organisation (ISRO) and is  being implemented through NewSpace India Ltd(NSIL) which is the commercial arm of ISRO under Department of Space (DoS). 

    Recently, Odisha was proactive in  installation of these transponders and more than 1000 transponders have been installed in the state. This technology has proved as a  lifeline for the fishermen of Odisha by providing support to them during the recent cyclone that impacted the Odisha coast and adjoining areas of the Bay of Bengal. As Cyclone DANA approached the state of Odisha recently, the Odisha State Relief Commissioner issued a warning on 20th October 2024, based on the India Meteorological Department’s midday bulletin. The warnings and advisories were issued on real-time basis to the fishermen using Vessel Communication and Support System. This has not only helped in saving life of the fishermen out at sea but also helped in preventing damage to their resources.  

    Through these transponders, advisories were issued to the fishermen out at sea through Space Application Centre (SAC), Ahmedabad to avoid venturing into the sea from 21st October to 26th October 2024.  It was also advised to the fishermen out at sea to return to the shore immediately. The timing of this warning was significant, allowing fishermen to take necessary precautions before the cyclone made landfall. The messages sent to fishermen included, “Fishermen out at sea are advised to return to the coast immediately,” and “Fishermen are advised not to venture into the sea off Odisha Coast and adjoining North Bay of Bengal during 21st to 26th October 2024.” These broadcast messages were communicated in both English and Odia, ensuring that all fishermen could understand the severity of the situation.

    Traditionally, authorities relied on Very High Frequency radio and phone calls to contact vessels, depending on boat owners to provide their exact locations. This method posed significant challenges, as locating mechanized trawlers in distant waters was often difficult. Moreover, some owners were unable to provide precise information on their vessel numbers and locations. This lack of accurate data hindered effective communication and posed serious risks to the safety of the fishermen at sea. With the Vessel Communication and Support System in place, officials could send a mass broadcast message on the evening of 20th October 2024 to all vessels at sea, utilizing satellites from the Indian Space Research Organisation. This timely broadcast was a game changer, prompting a swift response and enabling the vessels to return to shore by the morning of 21st October 2024. The mass message was not just a notification; it was a lifeline that significantly improved the chances of safety for those at sea.

    The use of transponders and the Nabhmitra Application played a pivotal role in enhancing safety during Cyclone DANA by enabling effective tracking of vessel positions and monitoring their speeds. This application allowed officials to estimate the time of arrival for each vessel at shore, which was paramount in ensuring that fishermen could return safely before the cyclone made landfall. The Nabhmitra Application offers comprehensive tracking features that include essential boat information, such as boat numbers and transponder IDs. By providing real-time updates on location, course and speed, the application helped authorities maintain an accurate understanding of each vessel’s movements.

    Moreover, the application served as a valuable source of cyclone information, detailing the cyclone’s name, category, and specific location through precise latitude and longitude coordinates. This data was complemented by the cyclone’s date and time, maximum surface wind speeds, and the date when this information was acquired. By having this significant information readily accessible, fishermen were better equipped to respond to the unfolding situation. In addition to cyclone-related data, the Nabhmitra Application also provided important weather updates, including sea conditions, wind speed and direction, and visibility. This holistic view of the maritime environment was instrumental for fishermen, allowing them to make informed decisions about their safety. With these tools at their disposal, authorities were able to coordinate the return of fishermen effectively, ensuring they received timely alerts and could navigate the dangers posed by the approaching cyclone.

    The ability to track vessels in real time represented a significant leap forward in crisis management. Officials could monitor approximately 126 boats from Paradeep that were further out at sea, ensuring the safe return of all boats by 22nd October 2024, well before Cyclone DANA made landfall. This enhanced tracking capability helped authorities stay informed about the vessels’ conditions, allowing them to respond effectively to any emergencies. Furthermore, the communication capabilities of the Vessel Communication and Support System were instrumental in disseminating emergency messages in local languages. This feature ensured clarity and urgency, allowing fishermen to comprehend the importance of returning to safety without delay. The multilingual support enhanced the system’s effectiveness, as many fishermen may not be fluent in English or Hindi. By using local dialects, the authorities could convey essential information more effectively, further reducing response times.

    The level of coordination achieved during this crisis was only possible through the Vessel Communication and Support System. The system not only enabled a proactive response but also facilitated collaboration among various stakeholders, including the Department of Fisheries, the Coast Guard, and local authorities. This level of inter-agency cooperation is important during emergencies, ensuring that resources are allocated effectively, and that the response is as swift as possible. The successful deployment of the Vessel Communication and Support System during Cyclone DANA represents a remarkable milestone in crisis management and disaster preparedness. It showcases how technology can be leveraged to protect livelihoods while enhancing the resilience of coastal communities against natural disasters. The system has marked an impressive improvement in crisis management and has showcased the transformative potential of the Vessel Communication and Support System.

    The response to Cyclone DANA has underscored the capabilities of transponder technology in protecting the lives of fishermen and enhancing India’s preparedness for future maritime challenges. By enabling real-time communication and monitoring, the Vessel Communication and Support System sets a new standard in maritime safety. The effectiveness of the system during this crisis serves as a template for future implementations, suggesting that similar technologies can be used in other regions and situations to enhance safety and preparedness.

    The lessons learned from the response to Cyclone DANA are invaluable. It is imperative that the adoption of advanced technologies for disaster management is a key step. The Vessel Communication and Support System highlights the importance of investment in maritime safety infrastructure. The Vessel Communication and Support System has  proved to be a significant asset during Cyclone DANA, ensuring the safety and security of fishermen at sea. By facilitating real-time tracking, effective communication, and coordinated emergency responses, the system exemplifies how technology can enhance maritime safety in the face of natural disasters. The successful outcomes achieved during this crisis serve as a testament to the effectiveness of integrating advanced technologies in safeguarding livelihoods and enhancing preparedness for future challenges. As India continues to strengthen its maritime safety framework, the lessons learned from Cyclone DANA will guide future initiatives, ultimately fostering a safer environment for the fishing community. The path to safety has been significantly illuminated through the effective use of indigenously designed and developed Vessel Communication and Support System, ensuring that fishermen are well-informed and can navigate the challenges posed by nature with greater confidence.

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  • MIL-OSI Asia-Pac: Pradhan Mantri Mudra Yojana

    Source: Government of India (2)

    Pradhan Mantri Mudra Yojana

    Loan Limit Raised to ₹20 Lakh from ₹10 Lakh

    Posted On: 29 OCT 2024 3:00PM by PIB Delhi

     

    “Millions of common men and women of this country, who run small business, have almost remained outside the net of formal institutional finance, in spite of their large contribution to the economy. MUDRA is our innovation of funding the unfunded.”

                             ~ Prime Minister Narendra Modi

     

    The Pradhan Mantri MUDRA Yojana (PMMY), launched by the Prime Minister on April 8, 2015, has played a pivotal role in empowering non-corporate, non-farm small and micro enterprises by providing loans of up to ₹10 lakh. To strengthen support for aspiring entrepreneurs, the finance minister announced an increase in the loan limit to ₹20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit took effect on October 24, 2024.

    This announcement also introduces a new loan category, Tarun Plus, designed specifically for those who have previously availed and successfully repaid loans under the Tarun category, allowing them to access funding between ₹10 lakh and ₹20 lakh. Additionally, the Credit Guarantee Fund for Micro Units (CGFMU) will now provide guarantee coverage for these enhanced loans, further reinforcing the government’s commitment to nurturing a robust entrepreneurial ecosystem in India.

    Mudra Yojana

     

    MUDRA,3 which stands for Micro Units Development & Refinance Agency Ltd, is a financial institution set up by the Government of India under PMMY for development and refinancing micro unit enterprises. PMMY aims to provide financial inclusiveness and support to the marginalized and hitherto socio-economically neglected classes. PMMY has given wings to the dreams and aspirations of millions, along with a feeling of self-worth and independence.

    Need for the MUDRA Yojana

    India is a young country brimming with youthful enthusiasm and aspirations. In order to provide a fertile ground for sowing the seeds of India’s development it is very important to harness this innovative zeal of young India which can provide new age solutions to existing gaps in the economic ecosystem of the country. Understanding the need to harness the latent potential of entrepreneurship in India, the Union Government launched the Pradhan Mantri MUDRA Yojana.

    MUDRA Loans: Categories

    Under PMMY collateral free loans up to Rs. 20 Lakh are extended by Member Lending Institutions (MLIs) viz Scheduled Commercial Banks,  Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non-Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) etc. The loans are given for income generating activities in manufacturing, trading and services sectors and for activities allied to agriculture.

    MUDRA loans now will be offered in four categories namely, ‘Shishu’, ‘Kishore’and ‘Tarun’ and newly added category ‘Tarun Plus’ which signifies the stage of growth or development and funding needs of the borrowers:-

    • Shishu: covering loans upto Rs. 50,000/-
    • Kishore: covering loans above Rs. 50,000/- and up to Rs. 5 lakhs
    • Tarun: covering loans above Rs. 5 lakh and up to Rs. 10 lakhs
    • Tarun Plus: Rs. 10 lakh and up to Rs. 20 lakhs

     

    Achievements of PMMY

     

    Under Pradhan Mantri Mudra Yojana (PMMY) amount sanctioned and disbursed in the financial year 2023-24 under various categories:[4]

    • Women Borrowers: A total of ₹1,08,472.51 crore was disbursed under the Shishu category, ₹1,00,370.49 crore under Kishore, and ₹13,454.27 crore under the Tarun category.
    • Minority Borrowers: The disbursements amounted to ₹15,759.66 crore under Shishu, ₹20,766.3 crore under Kishore, and ₹8562.27 crore under Tarun.
    • New Entrepreneurs / Accounts:
      • Shishu category: 88,49,101 accounts with a sanctioned amount of ₹29,445.41 crore and disbursed amount of ₹28,839.75 crore.
      • Kishore category: 34,06,239 accounts with ₹62,290.58 crore sanctioned and ₹60,407.02 crore disbursed.
      • Tarun category: 7,57,456 accounts with a sanctioned amount of ₹70,294.35 crore and ₹68,861.13 crore disbursed.
    • Unique Borrowers (from 8th April 2015 to 31st March 2024):
      • ₹44,891.82 crore was sanctioned under Shishu.
      • ₹24,575.57 crore was sanctioned under Kishore.
      • ₹19,120.58 crore was sanctioned under Tarun.

     

    Mudra Card

     

     

    MUDRA Card[5] is an innovative credit product wherein the borrower can avail of credit in a hassle free and flexible manner. It provides a facility of working capital arrangement in the form of an overdraft facility to the borrower. Since MUDRA Card is a RuPay debit card, it can be used for drawing cash from ATM or Business Correspondent or make purchase using Point of Sale (POS) machine. Facility is also there to repay the amount, as and when, surplus cash is available, thereby reducing the interest cost.

     

     

    MUDRA App- “MUDRA MITRA”

     

     MUDRA MITRA is a mobile phone application available in Google Play Store and Apple App    Store, providing information regarding ‘Micro Units Development and RefinanceAgency Ltd. (MUDRA)’ and its various products/ schemes. It will guide a loan seeker to approach a Banker in availing MUDRA loan under PMMY. Users can also access useful loan related material including sample loan application forms in this app.

     

     Steps taken to improve implementation of the Scheme:[6]

    • Handholding support for facilitating submission of loan applications
    • Provision for online applications through PSBloansin59minutes and Udyamimitra portal
    • Intensive publicity campaigns for increased visibility of the scheme amongst the stakeholders
    • Simplification of application forms
    • Nomination of MUDRA Nodal Officers in Public Sector Banks (PSBs)
    • Periodic monitoring of performance of PSBs with regard to PMMY
    • Interest Subvention of 2% on prompt repayment of Shishu loans extended under PMMY for a period of 12 months to all eligible borrowers.
    • Announced by Union Finance Minister on 14.05.2020 under Aatmanirbhar Bharat Package, the scheme has been formulated as a specific response to an unprecedented situation and aims to alleviate financial stress for borrowers at the ‘bottom of the pyramid’ by reducing their cost of credit.

     

    Conclusion

    The Pradhan Mantri MUDRA Yojana (PMMY) has fundamentally reshaped the landscape of entrepreneurship in India, driving significant progress in financial inclusion. By providing critical funding support, the scheme has enabled countless new entrepreneurs to turn their business ideas into reality. Over the years, it has also empowered women and minority communities, creating opportunities for economic upliftment and fostering a more inclusive growth environment. As the loan limit expands to ₹20 lakh, PMMY continues to play a vital role in nurturing small businesses and fueling the nation’s journey toward a more equitable and prosperous future.

    References:

     

    Click here to see in PDF

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  • MIL-OSI Asia-Pac: Maximum Retail Price of three Anti-cancer Drugs (Trastuzumab, Osimertinib and Durvalumab) to come down on account of exemption from Custom duty and Reduction in GST Rates

    Source: Government of India

    Posted On: 29 OCT 2024 2:23PM by PIB Delhi

    In line with the Government’s commitment to ensure the availability of drugs at affordable prices, National Pharmaceutical Pricing Authority (NPPA) has issued an O.M. dated 28.10.2024 directing the concerned manufacturers to reduce the MRP on three anti-cancer drugs, Trastuzumab, Osimertinib and Durvalumab.  This is in pursuance to the announcement made in the Union Budget for the year 2024-25 exempting these three anti-cancer medicines from customs duty. The Department of Revenue, Ministry of Finance issued Notification 30/2024 dated 23.07.2024 reducing the custom duty to nil on these three anticancer drugs.

    Further, the Department of Revenue, Ministry of Finance has issued notification no. 05/2024 dated 08.10.2024 notifying the reduction in GST Rates from 12% to 5% with effect from 10.10.2024 on these three drugs.

    Accordingly, there should be a reduction in MRP of these drugs in the market and benefits of reduced taxes & duties should be passed on to the consumers. Hence, NPPA vide O.M. dated 28.10.2024 has directed all the manufacturers of above-mentioned drugs to reduce their MRP. The manufacturers are required to issue a price list or supplementary price list to the dealers, State Drugs Controllers and the Government indicating changes and to submit information regarding price change to NPPA through Form-II/ Form V.

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  • MIL-OSI Asia-Pac: PRESIDENT OF INDIA WITNESSES AN ART EXHIBITION AT RASHTRAPATI BHAVAN

    Source: Government of India

    Posted On: 29 OCT 2024 1:44PM by PIB Delhi

    A group of artists called on the President of India, Smt. Droupadi Murmu today (October 29, 2024). The President also visited the exhibition of artwork, which had been created by artists during their stay at Rashtrapati Bhavan.  

    The President appreciated the artwork of the artists. She said that the eternal relationship between human beings and nature is reflected in their artwork. She urged all to encourage these artists by appreciating and buying such artworks.

    ​These artists reside near various Tiger Reserves and belong to Chhattisgarh, Madhya Pradesh, Maharashtra, Odisha, Mizoram, Telangana, Uttarakhand, and Jharkhand. They have been staying at Rashtrapati Bhavan from October 21 till date under the Artist-in-Residency initiative ‘SRIJAN 2024’. During their stay, artists created beautiful paintings with natural colours depicting art forms like tribal contemporary, Saura, Gond, Warli, Aipan, Sohrai, etc. 

     

     

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  • MIL-OSI Asia-Pac: CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962

    Source: Government of India

    CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962

    Notification of tolerance range shall provide certainty to taxpayers and reduce the risk perception associated with pricing of a transaction in transfer pricing

    Posted On: 29 OCT 2024 1:23PM by PIB Delhi

    The Central Board of Direct Taxes (CBDT) has issued notification no. 116/2024 dated October 18, 2024 notifying the tolerance range for AY 2024-25. The notification of tolerance range shall provide certainty to taxpayers and reduce the risk perception associated with pricing of a transaction in transfer pricing.

    Proviso to sub-rule(7) of rule 10CA sub-rule(7) provides that, “if the variation between the arm’s length price so determined at which the international transaction or specified domestic transaction has actually been undertaken does not exceed such percentage not exceeding three percent of the latter, as may be notified by the Central Government in the Official Gazette in this behalf, the price at which the international transaction or specified domestic transaction has actually been undertaken shall be deemed to be the arm’s length price.”

    The tolerance range for transfer pricing is as follows:

    1. The tolerance ranges shall be 1% for transactions in the nature of “wholesale trading” and 3% for others, respectively, as notified last year and
    2. The term ‘wholesale trading’, shall be defined as an international transaction or specified domestic transaction of trading in goods which fulfil all the following conditions:

     

    1. Purchase cost of finished goods is 80% or more of the total cost pertaining to such trading activities; and
    2. Average monthly closing inventory of goods is 10% or less of sales pertaining to such trading activities.

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  • MIL-OSI Asia-Pac: Ministry of Parliamentary Affairs makes significant progress in ongoing Special Campaign 4.0 for institutionalizing Swachhata and reducing pending matters

    Source: Government of India (2)

    Posted On: 29 OCT 2024 1:01PM by PIB Delhi

    The Ministry of Parliamentary Affairs has made  significant progress in the ongoing Special Campaign 4.0, which began on 2nd October 2024 and will continue until 31st October 2024. This initiative is part of the Government of India’s broader mission to institutionalize Swachhata (cleanliness) practices and streamline the resolution of pending matters across various Ministries and Departments.

    Key Achievements So Far:

    • Record Management: Since the campaign’s launch, the Ministry of Parliamentary Affairs has made notable strides in reviewing the old physical and digital files. Over 90% of files of the target set have been reviewed. Social Media updates are also being posted showcasing the progress of Ministry in this aspect.
    • Pending Important Matters: Pendency of PMO Reference, Parliamentary Assurance, State Govt. Reference, Reference from MPs and IMC Reference is NIL.

    The Ministry of Parliamentary Affairs has urged  all its employees to remain committed to the goals of Special Campaign 4.0 and continue to contribute actively.It has been emphasised that  with the combined efforts of all, lasting improvements in cleanliness and governance can be achieved.

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  • MIL-OSI Asia-Pac: Key Decisions by Central Empowered Committee to strengthen Gram Panchayats across the country

    Source: Government of India (2)

    Key Decisions by Central Empowered Committee to strengthen Gram Panchayats across the country

    Standardized Honorarium, Training in Smart Classrooms, New Panchayat Buildings to improve Service Delivery at the Grassroots

    Posted On: 29 OCT 2024 12:10PM by PIB Delhi

    In a bid to further enhance the effectiveness of grassroots governance across the country, the Central Empowered Committee (CEC) of the Revamped, Centrally Sponsored Scheme of Rashtriya Gram Swaraj Abhiyan (RGSA), in its 8th meeting under the Chairmanship of Secretary, Ministry of Panchayati Raj (MoPR) Mr. Vivek Bharadwaj, made several significant decisions. The major decisions taken include Adoption of Standardized Honorarium under RGSA, Long term Domestic Training of Panchayat officials, Training of elected representatives in Smart Classrooms, Investment in Gram Panchayat Infrastructure throughout the country with special focus on North Eastern States and UT of Jammu and Kashmir.

    Adoption of Standardized Honorarium System under RGSA

    The CEC approved the standardization of honorarium rates for Master Trainers, Guest Faculties, and Eminent Resource Persons across States/UTs. This decision ensures equitable compensation, fostering the availability of high-quality trainers, which is critical for improving training delivery at the grassroots level. By addressing disparities in honorarium, the decision sets a new benchmark for training consistency and capacity building across Panchayati Raj Institutions (PRIs). This decision marks a crucial step towards ensuring uniformity and quality in training delivery across the country, from larger States like Uttar Pradesh and Maharashtra to smaller ones like Sikkim and Goa. This is particularly important for States like Bihar, Gujarat, Punjab and West Bengal, which are scaling up their training initiatives. By standardizing rates, the Ministry aims to attract and retain high-quality Trainers and Resource Persons, which is essential for effective capacity building of Panchayati Raj Institutions (PRIs) in every State.

    States/UTs to sponsor Panchayat Officials for Long-Term Domestic Training Programs for higher Learning

    “Funding for Long-Term Domestic Training Programs” for up to one year of duration for officials of PRIs and Panchayati Raj Department in the States/UTs under the State component of RGSA has been given a go ahead. The move aims at ensuring that the officials receive advanced, sector-specific training from Institutes of Excellence which will upgrade their skill set for better service delivery at the grassroots. This aligns with the objective of RGSA to strengthen decentralized governance and improved implementation efficiency. It will boost the overall competency of officials involved in rural development and local self-governance, thereby improving grassroots planning. It will also result in extensive Human Capital formation in PRIs over a period of few years.

    The decision addresses the critical need for in-depth skill upgradation of PRI functionaries across all participating States. By including subjects like spatial planning, resource mobilization, and disaster management, the program aims to equip officials with comprehensive knowledge essential for rural development in diverse geographical contexts, from the coastal regions of Kerala to the mountainous terrains of Himachal Pradesh. All the States and UTs will benefit from this decision as the North East (NE) and Hilly States can sponsor 10 candidates each for higher learning, UTs and Goa up to 5 applicants each while other States can sponsor up to 20 candidates each.

    Boost to Panchayat Infrastructure

    To enhance infrastructure, the CEC approved, construction of 3,301 Gram Panchayat Bhawans with Common Service Centre (CSC) co-location and sanctioned 22,164 computers for Gram Panchayats across various States including Andhra Pradesh, Chhattisgarh, Punjab, and Telangana. This decision is a boost for Panchayati Raj system in these States as it directly addresses infrastructure gaps, enabling better administrative functioning and digital governance in rural areas. The provision of dedicated buildings and computer equipment will facilitate efficient record-keeping and e-governance, significantly enhancing local government operations and service delivery.

    Elected Representatives of Panchayats to be trained in Smart Classrooms

    In a bid to modernize the Panchayat Resource Centers at the State and District level across the country, computer labs in State Panchayat Resource Centers (SPRCs) in 25 States as well as in District Panchayat Resource Centers (DPRCs) in 395 Districts will be upgraded with more computers of latest specification. At the same time, approval has been given for installing technological Educational Aids in these SPRCs and DPRCs across States/UTs. This decision for upgrading the State and District Panchayat Resource Centers (SPRCs/ DPRCs) in States like Gujarat and Tamil Nadu will modernize training infrastructure, creating a conducive learning environment. By integrating digital tools including projectors, LCDs, interactive panels and PA systems, the training centers will be better equipped to deliver high-quality capacity-building programs. This move is expected to accelerate the adoption of digital learning and improve the training outreach to Panchayat functionaries across India.

    Investment in Panchayat Infrastructure in the Vibrant Villages of the Border Areas of North East and Jammu and Kashmir

    Over a period of last few years, a number of decisions to support the infrastructure development for PRIs in the North Eastern States and the UT of Jammu and Kashmir have been taken. In the past years, the Ministry has supported construction of Panchayat Bhawans as well as setting up of Common Service Centres for ease of the residents in these areas. In J&K, the Ministry has supported construction of 970 GP Bhawans and co-location of 1606 Common Service Centres during 2024-25.

    In this meeting, decision has been taken for the construction of 400 Panchayat Bhawans-cum-Common Service Centers in Arunachal Pradesh. This is in continuation of MoPR’s support in the past for 939 GP Bhawans with collocated CSCs. Similarly, Panchayat infrastructure has been supported for the other States of North East including Mizoram, Meghalaya, Nagaland, Assam, Manipur. Overall, 1633 Gram Panchayat Bhawans and 514 CSCs have been approved for the States of North East.

    These initiatives aim at enhancing administrative efficiency and provide essential services at the grassroots level, significantly contributing to the development of Vibrant Villages.

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    AA

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  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation, Shri Amit Shah flags off the ‘Run for Unity’, organized as part of National Unity Day, in New Delhi

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation, Shri Amit Shah flags off the ‘Run for Unity’, organized as part of National Unity Day, in New Delhi

    Prime Minister Shri Narendra Modi had decided to organize the ‘Run for Unity’ in 2015 in memory of the great leader Sardar Vallabhbhai Patel to make the country pledge for the unity and integrity of India

    ‘Run for Unity’ is not merely a pledge for the unity of India, but today it has become a pledge for a developed India as well

    After independence, the creation of present-day India by uniting more than 550 princely states was possible only because of the strong will and quick decision making of Sardar Saheb

    Today, India stands strong before the World on the path of becoming the leader in every field, and its foundation was laid by Sardar Patel

    Prime Minister Modi has kept the memory of Sardar Patel alive by building the World’s tallest statue in Kevadia, Gujarat

    Sardar Patel’s vision, ideas and message in every field have been given a concrete shape by Prime Minister Modi

    Union Home Minister called upon the countrymen to take a pledge to strengthen the unity of India through the ‘Run for Unity’ and to realize the dream of a fully developed India by 2047

    Posted On: 29 OCT 2024 11:54AM by PIB Delhi

    Union Home Minister and Minister of Cooperation, Shri Amit Shah today flagged off the ‘Run for Unity’ organized in New Delhi. The ‘Run for Unity’ was organized as part of the National Unity Day, to be celebrated on the occasion of the birth anniversary of Sardar Vallabhbhai Patel, i.e, 31st October. Several dignitaries including Union Cabinet Ministers Shri Manohar Lal Khattar, Dr. Mansukh Mandaviya, Union Minister of State for Home Affairs Shri Nityanand Rai and Lieutenant Governor of Delhi Shri Vinay Kumar Saxena were present on the occasion.

     

    In his address, Union Home Minister Shri Amit Shah said that Prime Minister Shri Narendra Modi had decided to organize the ‘Run for Unity’ in 2015 in the memory of the great leader Sardar Vallabhbhai Patel to make the country pledge for the unity and integrity of the country. He said that since then, the entire country not only takes a pledge for the unity and integrity of the whole country through the ‘Run for Unity’ but also rededicates itself to the service of the Mother India. Shri Shah added that the ‘Run for Unity’ has become a pledge of unity of the country as well as a pledge of a developed India. He said that Prime Minister Modi has put forth before all countrymen the pledge to build a fully developed India by 2047, which would be at the top of the ladder in every field in the World.

    Shri Amit Shah said that today India stands before the world as a flourishing, developing and a strong nation. He said that if we look back at history, after independence, the creation of present-day India by uniting more than 550 princely states was possible only because of the strong will and quick decision making of Sardar Saheb. He said that it was Sardar Patel due to whose strong will today India stands united and strong before the World. He added that today India stands strong before the World on the path of becoming the leader in every field, and its foundation was laid by Sardar Patel.

    Union Home Minister and Minister of Cooperation said that it is unfortunate that Sardar Patel was forgotten for years and he was also denied the due honour of Bharat Ratna. He said that Prime Minister Modi has kept the memory of Sardar Patel alive by building the World’s tallest statue in Kevadia, Gujarat. Shri Shah said that Sardar Patel’s vision, ideas and message in every field have been given a concrete shape by Prime Minister Modi.

    Shri Amit Shah said that the great ideas of Sardar Patel will definitely become a guiding light for the young generation of the country. Union Home Minister called upon the countrymen to take a pledge to strengthen the unity of India through the ‘Run for Unity’ and to realize the dream of a fully developed India by 2047.

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  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi addresses Rozgar Mela

    Source: Government of India (2)

    Prime Minister Shri Narendra Modi addresses Rozgar Mela

    It is a matter of great joy to have handed over appointment letters for government jobs to 51 thousand youth in the Rozgar Mela, Best wishes to all the youth who are taking a step towards nation building:PM

    It is our commitment that the youth of the country should get maximum employment: PM

    Today India is moving towards becoming the third largest economy in the world: PM

    We promoted Make in India in every new technology,We worked on self-reliant India: PM

    Under the Prime Minister’s Internship Scheme, provision has been made for paid internships in the top 500 companies of India: PM

    Posted On: 29 OCT 2024 11:53AM by PIB Delhi

    The Prime Minister Shri Narendra Modi addressed the Rozgar Mela and distributed more than 51,000 appointment letters to newly appointed youth in Government departments and organizations via videoconferencing today. Rozgar Mela highlights the Prime Minister’s commitment to prioritizing employment generation. It will empower the youth by providing them with meaningful opportunities to contribute to nation-building.

    Addressing the occasion, the Prime Minister noted the auspicious occasion of Dhanteras and conveyed his best wishes on the occasion. Underlining that this year’s Diwali would be a special one, the Prime Minister said that it is the first Diwali since Lord Shri Ram has been seated in his magnificent temple in Ayodhya after 500 years. He said that several generations have waited for this Diwali, while many have sacrificed their lives for it or faced adversities. The Prime Minister  emphasized that the present generation is extremely fortunate to witness and become a part of such celebrations. In the atmosphere of festivity, said the Prime Minister, 51,000 youth are being handed out recruitment letters for government jobs. He congratulated the new recruits and conveyed his best wishes to them.

    The Prime Minister highlighted that offering permanent Government jobs to lakhs of youths has been a legacy which is continuously going on. He added that lakhs of youths were handed appointment letters even in the states being governed by BJP and NDA allies. Shri Modi emphasized that in Haryana there is a festive atmosphere with 26,000 youths getting jobs by the newly formed government . Shri Modi said their Government in Haryana had a special identity of giving jobs without any expense or recommendation. He greeted the 26,000 youths of Haryana who will be handed over their appointment letters today apart from 51,000 jobs in today’s Rozgar Mela. 

    The Prime Minister reiterated the government’s commitment that the youth of the country should get maximum employment. Noting that the policies and decisions of the government have a direct impact on job creation, the Prime Minister highlighted the development of expressways, highways, roads, rail, ports, airports, laying of fiber cables, setting up of mobile towers and expansion of new industries in all parts of the country. Referring to laying of water and gas pipelines, establishing of new schools, colleges and universities and reducing logistics cost by spending on infrastructure, Shri Modi said that it is not only benefitting the citizens but also creating new job opportunities. 

    Recalling his visit to Vadodara in Gujarat yesterday, the Prime Minister mentioned inaugurating an aircraft manufacturing facility for the defence sector. He said that thousands of citizens would get direct employment while MSME industries would hugely benefit from the manufacturing of spare parts and other equipment, creating a huge network of supply chains. Noting that a single aircraft comprises 15,000 to 25,000 parts, Shri Modi emphasized that thousands of smaller factories would play an active role in fulfilling the demands of a mega factory, thereby benefiting India’s MSMEs. 

    The Prime Minister remarked that whenever a scheme is launched, the focus is not just only on the benefits accrued to the citizens, but also develop an entire ecosystem of employment generation using it as a medium by thinking in a broader scope. Citing an example of PM Suryaghar Muft Bijli Yojana, he said  in the last 6 months, around 2 crore customers had registered for the scheme, more than 9,000 vendors were associated with scheme, solar panels were already installed in more than 5 lakh houses and in the near future, there was a plan to create 800 Solar villages as model under this scheme. He also noted that 30,000 people had undergone training for roof-top solar installation as well. Therefore, he added, this one scheme of PM Suryaghar Muft Bijli Yojana has created a host of employment opportunities for manufacturers, vendors, assemblers and repairers across the country.

    Noting that the Khadi industry of India has been transformed by the policies of the government in the last 10 years and impacted the people in the villages, the Prime Minister informed that Khadi Gram Udyog’s business has surpassed 1.5 lakh crores today. Drawing parallels from 10 years ago, the Prime Minister exclaimed that the sale of Khadi has grown up to 400 percent, thereby benefiting artists, weavers and businesses and also creating new employment opportunities. Shri Modi also touched upon the Lakhpati Didi scheme where new employment and self-employment opportunities are provided to rural women. “More than 10 crore women have joined self-help groups in the last decade”, he added, noting that 10 crore women are now engaged in economic activities. He credited the support provided by the government in every step and reiterated the commitment to creating 3 crore lakhpati didis. “More than 1.25 crore women have already become Lakhpati Didis so far making their annual income above Rs 1 lakh”, he added.

    The Prime Minister stated that India is moving towards becoming the world’s third-largest economy. Reflecting on the country’s progress, he noted the inquisition by the youth of India who often ask why the country didn’t achieve this pace earlier. Underlining that the answer lies in the lack of clear policies and intent in previous governments, the Prime Minister pointed out that India had been lagging behind in several sectors, particularly technology. He recalled that India used to wait for new technologies from around the world and what was considered outdated in the West would eventually reach the nation. He pointed out the long withstanding belief that modern technology could not be developed in India not only set India back in terms of growth but also deprived the country of crucial job opportunities. 

    Highlighting the steps taken to free the country from this old thinking, the Prime Minister stated that efforts were initiated to break free from this old mindset in sectors like space, semiconductors, electronics and electric vehicles by promoting Make in India. The Prime Minister underscored the importance of technological advancement and investment, adding that the PLI scheme was launched to bring new technology and foreign direct investment to India, which has accelerated job creation when combined with the Make in India initiative. He noted that every sector is now receiving a boost providing opportunities for youth across different fields. “Today, India is witnessing massive investment, and record opportunities are being created”, he said, adding that in the last eight years, over 1.5 lakh startups have been launched, making India the world’s third-largest startup ecosystem. He further added that these sectors are offering our youth a chance to grow and gain employment.

    The Prime Minister reiterated that the government is very focused on skill development today to increase the capacity of the youth of India. Therefore, he added, Government started missions like Skill India and youth were being trained in many skill development centers. Shri Modi remarked that arrangements were made to ensure that India’s youth need not have to wander for experience and opportunity. Citing the Pradhan Mantri Internship Yojana, Shri Modi said provisions were made for paid internships in the top 500 companies of India, where every intern would be given Rs 5,000 per month for one year. He added the Government’s target  was to ensure one crore youth get internship opportunities in the next 5 years. This, he said, would give the youth a chance to connect with the real-life business environment in different sectors and add a beneficial experience to their career.

    The Prime Minister remarked that the Indian government was creating new opportunities to make it easier for Indian youth to get jobs abroad. Citing the recently released Germany’s  Skilled Labour Strategy for India, Shri Modi informed that Germany had increased the number of visas given to skilled Indian youth every year from 20 thousand to 90 thousand. He added that India’s youth will benefit greatly from this. Shri Modi also mentioned that India had signed agreements related to migration and employment with 21 countries in recent years, including countries like Japan, Australia, France, Germany, Mauritius, Israel, UK and Italy, apart from Gulf countries. He noted that every year 3 thousand Indians can get a 2-year visa to work and study in the UK while 3 thousand Indian students will get the opportunity to study in Australia. “India’s talent will not only give direction to India’s progress but also to the world’s progress”, exclaimed Shri Modi. He added that India was moving ahead in that direction.

    Shri Modi emphasized that the role of the government today was to create a modern system where every youth gets an opportunity and can fulfill their aspirations. Therefore, he urged the newly appointed youths in various positions that their goal should be to provide maximum facilities to the youth and citizens of India.

    The Prime Minister emphasized the crucial role of taxpayers and citizens in securing government jobs and stated that the government exists because of the citizens and is appointed to serve them. He reiterated that the primary duty is to serve the nation, be it in the position of a postman or a professor. Shri Modi underlined that the new recruits have joined the government at a time when the country has resolved to become developed. Therefore, said the Prime Minister, to achieve this goal, we must excel in every sector and contribute fully. He urged the new recruits to not only perform well but to strive for excellence. “Government employees in our country should set an example recognized worldwide”, he asserted. The Prime Minister stressed that the nation has high expectations from them and said that these expectations must be met to deliver on the commitments.

    The Prime Minister remarked on the new journey that appointees are embarking on with their positions, urging them to always remain humble and to maintain the habit of learning throughout their journey. He highlighted the availability of various courses for government employees on the iGOT Karmayogi platform and encouraged them to utilize this digital training module at their convenience. “Once again, I congratulate the candidates receiving their appointment letters today”, the Prime Minister concluded. 

    Background

    Rozgar Mela is being organized at 40 locations across the country with new recruits joining the Central Government across various Ministries and Departments such as the Department of Revenue, Department of Higher Education, Ministry of Home Affairs, Ministry of Defence, Ministry of Health and Family Welfare among others.

    Newly appointed recruits will have the opportunity to undertake foundational training through ‘Karmayogi Prarambh,’ an online module available on the iGOT Karmayogi portal. Over 1400 e-learning courses are available which will equip recruits with essential skills to serve in their roles effectively and work towards building a Viksit Bharat.

     

     

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  • MIL-OSI Asia-Pac: English rendering of PM’s address at the laying of foundation stone and inauguration of development works in Amreli, Gujarat

    Source: Government of India (2)

    Posted On: 28 OCT 2024 10:47PM by PIB Delhi

    Bharat Mata ki – Jai!

    Bharat Mata ki – Jai!

    Present on the dais are Honorable Governor of Gujarat, Acharya Devvrat ji, Chief Minister of Gujarat, Bhupendrabhai Patel ji, my colleague in the Union government, C. R. Patil ji, my brothers and sisters of Gujarat, and especially my brothers and sisters of Amreli.

    Diwali and Dhanteras are around the corner. This is a time of auspicious occasions. On one side, we have the celebration of ‘Sanskriti’ (culture); on the other, a celebration of ‘Vikas’ (progress)—this is the new mark of Bharat. The work of ‘Virasat’ (preserving heritage) and ‘Vikas’ (fostering development) goes hand in hand. Today, I had the opportunity to lay the foundation and inaugurate several development projects related to Gujarat. Before coming here, I was in Vadodara, where we inaugurated Bharat’s first factory of its kind, which will produce ‘Made in India’ aircraft for our Air Force right here in Gujarat, in Vadodara. Our Amreli belongs to the Gaekwads, and Vadodara also belongs to the Gaekwads. It’s a moment of pride! And today, here, I had the chance to inaugurate Bharat Mata Sarovar, and from this platform, we have laid the foundation stones and inaugurated multiple long-term projects related to water, roads, and railways. All these projects are intended to ease the lives of people in Saurashtra and Kutch and these projects will propel development forward. The projects that we inaugurated and laid the foundation for today are for the welfare of our farmers, for the prosperity of those in agriculture, and for job opportunities for our youth. My best wishes to all my brothers and sisters in Kutch, Saurashtra, and Gujarat for these many projects.

    Friends,

    The land of Saurashtra and Amreli has given birth to many gems. Whether historically, culturally, in literature, or politics, Amreli’s past has been glorious. This is the land that gave us Yogi ji Maharaj, the same land that gave us Bhoja Bhagat, and it is rare for a single evening to pass in Gujarat without the mention of Dula Bhaya Kag. Every folk tale and poetry remembers Kag Bapu. And today, the soil here, which holds memories of poet Kalapi and his famous line रे पंखीडा सुखथी चणजो (Fly freely, little bird), finds fulfillment with the arrival of water. This is Amreli, a magical land that has produced K. Lal, poet Rameshbhai Parekh, and our first Chief Minister of Gujarat, Jivrajbhai Mehta. The children here have faced challenges and have stood strong in the face of adversities. Those who choose the path of strength instead of bowing to natural disasters are the children of this earth. Some of them have emerged as entrepreneurs who not only made their district proud but also Gujarat and Bharat. And they have tried to do whatever they can for the society. And our Dholakia family continues to carry forward this legacy.

    With the government’s 80/20 water scheme, the BJP government in Gujarat has prioritised water from the very beginning. These efforts include 80/20 scheme and public participation, building check dams, building farm ponds, deepening lakes, building water temples, digging ponds, etc.  I remember when I would go to attend meetings in Delhi as Chief Minister and mention how a significant portion of our budget goes toward water resources, chief ministers and leaders from other states would look at me with surprise. I would tell them that Gujarat has many people who are awash with talents and if we get water once, Gujarat will flourish. This tradition belongs to our Gujarat. Many people have joined the 80/20 scheme. Everyone, including communities and villages, participated; my Dholakia family adopted it on a large scale, bringing the rivers to life. And this is the way to keep the rivers alive. We were connected to 20 rivers from the Narmada River. And the idea came to our minds to create small ponds in the rivers, so we could conserve water for miles. And once the water seeps into the ground, it will not remain without turning into nectar, brothers. The people of Gujarat, Saurashtra or Kutch don’t need books to explain the importance of water; they have experienced the hardships firsthand. They know exactly their problems; they know what types of problems there are. We have seen people from Saurashtra and Kutch migrating due to lack of water. We have seen the days when eight-eight people were forced to share a room in the cities. And now, we have created the country’s first Ministry of Jal Shakti because we know its importance. Today, we see the fruits of years of effort as the water from Narmada reaches every village.

    I remember a time when one would gain ‘punya’ from the Narmada Parikrama (circumambulation). The era has changed, and Mother Narmada herself is going from village to village, distributing ‘punya’ and water. The water conservation schemes, such as the SAUNI Yojana, which I launched, were met with disbelief and skepticism. Nobody was ready to believe that it could be possible. Some crooked people even criticised it as a publicity stunt by Modi ahead of elections. But all these schemes have breathed new life into Kutch and Saurashtra, allowing people to witness their dreams of green fields come true. This is an example of how a resolution made with sacred spirit gets fulfilled. I remember when I talked about laying pipes large enough for a Maruti car to pass through; people were astonished. Today, those pipes carry water throughout Gujarat.  This is what Gujarat has accomplished. We need to increase the depth of the river, so we have to build check dams, or at the very least, create barrages. We need to go to that extent to save water. The people of Gujarat have wholeheartedly embraced water conservation, and this has led to improvements in drinking water quality, health, and the ambitious goal of supplying water to every home and farm. This is a fact which is very satisfying. The 18-20-year-olds today may not even realize how difficult life was without water. Turning on the tap to shower is routine for them, unlike the past when mothers had to walk several kilometers with utensils to fetch water.

    The work done by Gujarat is now proving to be an example for the entire country. The campaign to bring water to every home and every field in Gujarat is still being carried out with such dedication and purity. Today, projects are being inaugurated and their foundations laid with hopes of benefiting millions. The Navda-Chavand Bulk Pipeline Project will bring water to around 1,300 villages and over 35 towns. People from Amreli, Botad, Rajkot, Junagadh, and Porbandar will benefit from an additional 30 crore liters of water every day. Today the foundation stone for the second phase of the Pasvi Augmentation Water Supply Scheme has also been laid. Mahuva, Talaja, and Palitana are the three talukas which will benefit largely from this scheme. Palitana is a significant pilgrimage and tourist site that sustains the state’s economy. Over 100 villages will directly benefit from these projects.

    Friends,

    Today, the inauguration and foundation laying of water projects symbolize the partnership between government and society. This is a remarkable example, and we emphasize public participation because water initiatives will only succeed through collective efforts. When we celebrated 75 years of independence, the government could have organized numerous events, placing boards with Modi’s name on them, but we chose not to. Instead, we launched a plan to create “Amrit Sarovars” (lakes) in villages, aiming to build 75 lakes in each district. As per the latest information, work is underway on nearly 75,000 such lakes, with over 60,000 lakes already brimming with life. Serving future generations in this way has significantly helped raise the water table in neighbouring areas. We ran the “Catch the Rain” campaign.  When I went to Delhi, this experience was very useful.  Today it has become a successful model. To encourage water conservation, be it at the family, village, or colony level, people must be inspired to save water. We are fortunate to have C.R. Patil in our cabinet now, who brings his expertise in water management from Gujarat. Now this is being followed in the entire country. He has made “Catch the Rain” one of his key initiatives, and thousands of recharge wells have already been constructed with public involvement in states like Gujarat, Rajasthan, MP, and Bihar. Recently, during a video conference program in Surat, South Gujarat, we saw people building recharge wells in their ancestral villages, that restores some family wealth to the village. This is an exciting new initiative: keeping the village’s water within the village and the border’s water within the border. These campaigns are significant steps forward.  These efforts to retain local water are part of a broader mission, as seen in other countries with minimal rainfall, where they conserve every drop of water. If you visit Mahatma Gandhi’s home in Porbandar, you’ll find a 200-year-old underground water storage tank, showing how our ancestors valued water centuries ago.

    Friends,

    The availability of water has made farming easier. Our motto is “Per Drop More Crop.” In Gujarat, we promoted micro-irrigation, especially sprinklers, which farmers of Gujarat welcomed. Today, wherever Narmada water has reached, farmers can reap three crops in areas where cultivating even one crop was once difficult. This has brought happiness and prosperity to households. Amreli district is advancing in agriculture, with crops like cotton, peanuts, sesame, millet, and bajra (pearl millet) from Jafrabad. I appreciate this initiative during my meetings in Delhi. Amreli’s Kesari mango has now received a GI tag, giving it a unique identity worldwide. Amreli is also gaining recognition for its natural farming, and our governor is working on this mission mode. Farmers in Amreli are dedicated to this experiment, committed to producing quick, viable crops. In our Halol, different universities for natural farming have been developed. The first college for natural farming under that university has been established in Amreli. The reason for this is that the farmers here are committed to this new experiment. Therefore, if they conduct experiments here, their crops will be ready immediately. Our goal is for farmers to engage more in animal husbandry, particularly cattle farming, benefiting from natural farming. In our Amreli, regarding the dairy industry, I remember that there used to be laws that considered setting up a dairy as a crime. We removed restrictive laws on dairy farming, facilitating the establishment of the dairy industry in Amreli, leading to rapid growth through cooperative efforts. I remember when Amar Dairy was founded in 2007, only 25 cooperative societies were part of it. Today, over 700 villages have joined, collecting around 1.25 lakh liters of milk daily, reflecting a true revolution and the adoption of various development pathways.

    Friends,

    I have another joy; I mentioned this many years ago, said it in front of everyone, and I called for a white revolution, a green revolution, but now we need to have a sweet revolution. We need to produce honey; honey should not just be something to talk about at home, brothers. We need to produce honey in the fields so that farmers can earn more. Our Dilip Bhai and Rupala ji raised this issue in the Amreli district, and now beekeeping has started in the fields, and people have learned about it. Now, the honey here is establishing its own identity. This is a joyful thing. Environmental efforts, like tree planting under the ‘Ek Ped Maa Ke Naam’ campaign, have been embraced nationwide and even globally, with admiration for this unique approach. Everybody is associating with this campaign. This is a great effort as far as environment is concerned. And second important work relating to environment is that we are striving to eliminate electricity bills by implementing the PM Surya Ghar Muft Bijli Yojana, a free solar electricity scheme that can save families Rs. 25,000 to Rs. 30,000 annually. Not only that they are earning additional income by selling the electricity which they are saving. Nearly 1.5 crore families have registered for this initiative, and over 200,000 homes in Gujarat now have rooftop solar panels, producing electricity and selling the surplus electricity. Amreli district has also made significant progress in energy, with Dudhda village, led by Govindbhai, close to becoming a solar-powered village. Six months ago, Govindbhai told me that he has to make his village ‘Surya Ghar’ (solar-powered village) and this is nearing completion. This initiative is expected to save the village Rs. 75,000 per month in electricity bills, with each household saving Rs. 4,000 annually. Congratulations to Govindbhai and Amreli for making Dudhda the first solar village in the district.

    Friends,

    Water and tourism are closely linked; where there is water, tourism naturally follows. Just now, while looking at Bharat Mata Sarovar, I thought that migratory birds that usually visit Kutch may find a new address here this December. When the Flamingos start coming here, it will attract more tourists. Amreli district is blessed with several pilgrimage sites that people visit with devotion. We saw the potential in the Sardar Sarovar Dam, which was initially built for water storage. By adding the world’s tallest statue of Sardar Patel, we created a monument that attracted nearly five million visitors last year, not just for the dam but to pay homage to the statue. With Sardar Patel’s 150th birth anniversary approaching on October 31, I will return to Gujarat soon to pay my respects. I will return to Delhi today, but will come back again day after tomorrow to pay my obeisance at the feet of Sardar Sahab. As usual, we celebrate his birth anniversary with a Unity Run, but this year, as Diwali falls on October 31, we have scheduled it for October 29. I hope that the Unity Run events will be held widely across Gujarat, and I will be attending the National Unity Parade in Kevadia.

    Friends,

    In the coming days, the newly established Kerly Recharge Reservoir is set to become a significant centre for eco-tourism, as I predict today. I see a great potential for adventure tourism there. Kerly Bird Sanctuary will gain international recognition, attracting birdwatchers and nature lovers from across the globe. Birdwatchers often spend days with cameras in hand, immersed in forests, creating an income source through tourism. Gujarat’s coastline, once known for its salty waters and seen as a challenge, is being transformed into a gateway to prosperity. We are prioritizing work to make Gujarat’s coastline not only a regional asset but a national hub for wealth and development. Our fishing communities will benefit greatly, as will our ports, steeped in centuries of heritage, which we are revitalizing. Lothal—an ancient city, over 5,000 years old— has not gained prominence after Modi came to power. It has always held a special place in my vision since I became Chief Minister of Gujarat, and I wanted to bring it to the world map of tourism. And now we are establishing the world’s largest maritime museum there. When we go from Amreli to Ahmedabad, it comes on the way, it is not very far, we have to go a little further.

    Our attempt is to showcase Bharat’s maritime heritage to the world, highlighting the legacy of our ancient seafarers. Our efforts are also aligned with the Blue Revolution to enhance marine resource development, and port-led development is playing a crucial role in advancing the vision of a ‘Viksit Bharat’ (Developed India). Infrastructure in places like Jafrabad and Shiyal Bet is being enhanced, turning Amreli into a prominent regional hub. The modernization of Pipavav port has opened new avenues for thousands of jobs and increased capacity for handling over a million containers and thousands of vehicles. We aim to connect all of Gujarat’s ports with the rest of the country, fostering a seamless network that benefits the economy nationwide.

    On the other hand, there is equal concern about the life of a common man. Our infrastructure initiatives extend to providing affordable housing, electricity, railways, roads, gas pipelines, telecommunications, optical fibers, and hospitals. In our third term, because after 60 years the country has given an opportunity to any Prime Minister to serve as Prime Minister for the third time. I cannot be thankful enough for the cooperation with Gujarat in this. We have seen this holistic approach to connectivity has already yielded tremendous results in Saurashtra, attracting large-scale industries. As the infrastructure improves, large-scale industries come in; we have seen the benefits of the RoRo ferry service. I used to hear about it in school: ‘Goga’s ferry, Goga’s ferry,’ but no one had done anything about it. We got the opportunity, and now over 700,000 people have used this RoRo ferry service. More than 100,000 vehicles and over 75,000 trucks and buses have benefited from it. It has saved countless people time and money, and so much petrol smoke has been avoided. If you calculate that, we would all be surprised why such a significant work wasn’t done earlier. I believe such good works were destined for me.

    Today, the work is underway to create the Amritsar-Bhatinda Economic Corridor from Jamnagar. The biggest benefits will be gained from it. The states from Gujarat to Punjab will also benefit from it. There are large economic zones being established along that route. Major projects are coming up, and with the inauguration of the road project, the Jamnagar-Morbi area is being developed. I have always said that the Rajkot-Morbi-Jamnagar triangle has the potential to be recognized as Bharat’s manufacturing hub. It has the power to be a mini Japan. When I mentioned this 20 years ago, everyone was mocking it. But today it is happening, and the connectivity work is now associated with it. As a result, the connectivity of the cement manufacturing area will also improve. In addition to this, the pilgrimage sites of Somnath, Dwarka, Porbandar, and the Gir Lions are set to become more accessible and magnificent as tourism destinations. Today, the rail connectivity in Kutch has expanded; this connectivity project for Saurashtra and Kutch has made Kutch a national attraction for tourism. People across the country are worried that there will be delays for tourism and industries in Kutch, and they are rushing to explore it.

    As Bharat develops, its pride in the world is increasing. The entire world is looking at Bharat with new hope, and a new perspective is emerging to view Bharat. People are beginning to recognize Bharat’s potential. Today, the whole world is listening to Bharat seriously and attentively. Everyone is discussing the possibilities within Bharat. Gujarat plays a significant role in this; Gujarat has shown the world how much potential lies in the villages of Bharat’s cities. A few days ago, I attended the BRICS summit in Russia, where I had the opportunity to engage in peaceful conversations with many prime ministers and presidents from different countries. The common sentiment among all was that they want to connect with Bharat and be partners in Bharat’s journey of development. All the countries are asking about the investment possibilities in Bharat. When I returned from Russia, the Chancellor of Germany came to Delhi with a large delegation. He brought along industrialists from Germany who invest across Asia. He told them to listen to Modi ji and decide what they want to do in Bharat. This means that Germany is also eager to invest significantly in Bharat. Not only that, he made an important announcement that will benefit our youth. Previously, Germany issued 20,000 visas; he announced that they will now issue 90,000 visas and that they need young people for their factories. The strength of Indian youth is immense, and the people of Bharat are law-abiding and live peacefully together. They stated that they need 90,000 people here and have announced the issuance of 90,000 visas every year. Now it is an opportunity for our youth to prepare according to this need. Today, the President of Spain was here, and Spain plans to invest significantly in Bharat. This will greatly benefit small industries in Gujarat, especially with the establishment of a transport aircraft manufacturing factory in Vadodara. The small factories in Rajkot that produce various tools will also contribute to this aircraft production. People working on small lathe machines from every corner of Gujarat will provide small parts, as thousands of components are needed in an aircraft, and each factory specialises in specific parts. This work will be beneficial for the entire Saurashtra region, where the structure of small industries exists. This opens up numerous employment opportunities.

    Friends,

    When I had the opportunity to serve Gujarat, my mission was to drive both Gujarat’s and Bharat’s development. My guiding principle was that Gujarat’s progress leads to Bharat’s progress. By building a ‘Viksit Gujarat’ (Prosperous Gujarat), we pave the way for a ‘Viksit Bharat’ (Developed India).

    Friends,

    Today, after a long time, I find myself among many familiar faces, and it fills me with joy to see everyone smiling and happy. Once again, I encourage my dear friend Savjibhai to shift his focus from Surat and instead, focus on ensuring water reaches every corner of Gujarat. Let’s bring the full benefits of the 80/20 schemes to Gujarat. My best wishes to all of you.

    Join me in saying:

    Bharat Mata ki – Jai!

    Bharat Mata ki – Jai!

    Bharat Mata ki – Jai!

    Thank you, friends.

    (Disclaimer – Original speech is in Gujarati. This is the approximate translation in English language).

     

    ***

    MJPS/VJ/VK

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  • MIL-OSI Asia-Pac: Marching Towards Atmanirbharta: India’s Defence Revolution

    Source: Government of India (2)

    Marching Towards Atmanirbharta: India’s Defence Revolution

    Domestic production hit ₹1.27 lakh crore in FY 2023-24, with exports growing 30x in a decade

    Posted On: 29 OCT 2024 11:21AM by PIB Delhi

    Introduction

    The recent inauguration of the TATA Aircraft Complex at the TATA Advanced Systems Limited (TASL) Campus in Vadodara, Gujarat, on October 28, 2024, marks a key milestone in India’s journey toward Atmanirbharta in defence. This facility, dedicated to manufacturing C-295 military transport aircraft, becomes the first private sector Final Assembly Line (FAL) for military aircraft in India, underscoring the government’s commitment to enhancing indigenous production capabilities. Under the program, 56 C-295 aircraft will be delivered, with the initial 16 arriving from Airbus in Spain and the remaining 40 produced domestically. This initiative exemplifies India’s shift toward self-reliance in defence manufacturing, aimed at strengthening operational readiness and reducing dependency on foreign imports.

    India’s commitment to Atmanirbharta in defence is further evidenced by its transformation from a major arms importer to an emerging centre for indigenous production. Driven by strategic government policies, this shift reached a landmark in FY 2023-24, with the Ministry of Defence reporting an unprecedented ₹1.27 lakh crore in domestic defence production. Once reliant on foreign suppliers, India now places a high priority on self-reliant manufacturing to meet its security needs, reinforcing its vision to strengthen national resilience and reduce dependency on external sources.

     

    Rise in India’s Defence Production

    India has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24, driven by the successful implementation of government policies and initiatives led by Prime Minister Shri Narendra Modi, focusing on attaining
    Atmanirbharta. According to data from all Defence Public Sector Undertakings (DPSUs), other public sector units manufacturing defence items, and private companies, the value of defence production has surged to a record high of ₹1,27,265 crore, representing an impressive increase of approximately 174% from ₹46,429 crore in 2014-15.

    Historically, India relied heavily on foreign countries for its defence needs, with about 65-70% of defence equipment being imported. However, this landscape has dramatically shifted, with around 65% of defence equipment now manufactured within India. This transformation reflects the country’s commitment to self-reliance in this critical sector and underscores the strength of its defence industrial base, which comprises 16 Defence Public Sector Units (DPSUs), over 430 licensed companies, and approximately 16,000 Micro, Small, and Medium Enterprises (MSMEs). Notably, 21% of this production comes from the private sector, bolstering India’s journey toward self-reliance.

    As part of the Make in India initiative, major defence platforms such as the Dhanush Artillery Gun System, Advanced Towed Artillery Gun System (ATAGS), Main Battle Tank (MBT) Arjun, Light Combat Aircraft (LCA) Tejas, submarines, frigates, corvettes, and the recently commissioned INS Vikrant have been developed, reflecting the growing capabilities of India’s defence sector.

    Consequently, the annual defence production has not only crossed ₹1.27 lakh crore but is also on track to reach a target of ₹1.75 lakh crore in the current fiscal year. With aspirations to achieve ₹3 lakh crore in defence production by 2029, India is solidifying its position as a global manufacturing hub for defence.

     

    India’s Defence Exports Surge

    India’s defence exports have reached an all-time high, surging from ₹686 crore in FY 2013-14 to ₹21,083 crore in FY 2023-24, reflecting a remarkable increase of over 30 times in export value over the past decade.

    This achievement is driven by effective policy reforms, initiatives, and improvements in the ease of doing business implemented by the government, all aimed at attaining self-reliance in defence. Notably, defence exports also experienced a substantial growth of 32.5% over the previous fiscal year, rising from ₹15,920 crore.

    India’s export portfolio boasts a diverse range of advanced defence equipment, including bulletproof jackets and helmets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes. A noteworthy highlight is the inclusion of ‘Made in Bihar’ boots in the Russian Army’s equipment, marking a significant milestone for Indian products in the global defence market and showcasing the country’s high manufacturing standards.

    Currently, India exports to over 100 nations, with the top three destinations for defence exports in 2023-24 being the USA, France, and Armenia. According to Raksha Mantri Shri Rajnath Singh, the target is to further increase defence exports to ₹50,000 crore by 2029. This expanding international footprint underscores India’s commitment to becoming a reliable defence partner globally while bolstering its economic growth through enhanced defence production and exports.

    Key Government Initiatives

    In recent years, the Indian government has implemented a series of transformative initiatives aimed at bolstering the country’s defence production capabilities and achieving self-reliance. These measures are designed to attract investment, enhance domestic manufacturing, and streamline procurement processes. From liberalizing foreign direct investment (FDI) limits to prioritizing indigenous production, these initiatives reflect a robust commitment to strengthening India’s defence industrial base. The following points outline the key government initiatives that have been pivotal in driving growth and innovation in the defence sector.

    • Liberalized FDI Policy: The Foreign Direct Investment (FDI) limit in the defence sector was raised in 2020 to 74% through the Automatic Route for companies seeking new defence industrial licenses and up to 100% through the Government Route for those likely to result in access to modern technology. As of February 9, 2024, ₹5,077 crore worth of FDI has been reported by companies operating in the defence sector.
    • Budget Allocation: The allocation for the Ministry of Defence for the financial year 2024-25 is ₹6,21,940.85 crore, as part of the “Demand for Grant” presented in Parliament during the ongoing Budget Session.
    • Priority for Domestic Procurement: Emphasis is placed on procuring capital items from domestic sources under the Defence Acquisition Procedure (DAP)-2020.
    • Positive Indigenization Lists: Notification of five ‘Positive Indigenization Lists’ totalling 509 items of services and five lists of 5,012 items from Defence Public Sector Undertakings (DPSUs), with an embargo on imports beyond specified timelines.
    • Simplified Licensing Process: Streamlining the industrial licensing process with a longer validity period.
    • iDEX Scheme Launch: The Innovations for Defence Excellence (iDEX) scheme was launched to involve startups and Micro, Small, and Medium Enterprises (MSMEs) in defence innovation.

     

    • Public Procurement Preference: Implementation of the Public Procurement (Preference to Make in India) Order 2017 to support domestic manufacturers.

     

    • Indigenization Portal: Launch of the Self-Reliant Initiatives through Joint Action (SRIJAN) portal to facilitate indigenization by Indian industry, including MSMEs.

     

    • Defence Industrial Corridors: Establishment of two Defence Industrial Corridors, one each in Uttar Pradesh and Tamil Nadu, to promote defence manufacturing.

     

    • Opening Defence R&D: Defence Research & Development (R&D) has been opened up for industry and startups to foster innovation and collaboration.

     

    • Domestic Procurement Allocation: Out of the total allocation of ₹1,40,691.24 crore under the Capital Acquisition (Modernization) Segment, ₹1,05,518.43 crore (75%) has been earmarked for domestic procurement in the Budget Estimates for 2024-25.

     

    Conclusion

    India’s journey toward Atmanirbharta in defence reflects a transformative shift from reliance on imports to becoming a self-sufficient manufacturing hub. The record achievements in domestic production and exports underscore the government’s commitment to enhancing national security and bolstering economic growth through robust defence initiatives. With strategic policies in place, a growing emphasis on indigenization, and a vibrant defence industrial base, India is poised to not only meet its own security needs but also emerge as a key player in the global arms market. The ambitious targets set for future production and exports signify a strong resolve to reinforce the country’s position as a reliable defence partner worldwide. As India continues to innovate and collaborate across sectors, it is well on its way to solidifying its status as a formidable force in global defence manufacturing.

     

    References:

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    Santosh Kumar/ Ritu Kataria/ Saurabh Kalia

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