NSIC signs MOU with Ministry of MSME
The National Small Industries Corporation Limited, NSIC today signed an MoU with Ministry of Micro, Small and Medium Enterprises for the year 2019-20. The MoU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country.
The Corporation projects to increase revenue from operation by 22 per cent from two thousand 540 crore rupees in the year 2018-19 to three thousand 100 crore rupees in the year 2019-20. The Corporation also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45 per cent growth in the number of trainees.
US removes India, Switzerland from its currency monitoring list
The Donald Trump-led US administration on Wednesday removed India from its currency monitoring list of major trading partners after certain developments and steps were taken by the country to avert concerns surrounding foreign exchange irregularities.
In its semi-annual foreign exchange report presented to Congress, the US administration left dropped the names of India and Switzerland from its currency monitoring list. The list currently includes China, Japan, South Korea, Germany, Italy, Ireland, Singapore, Malaysia, and Vietnam.
India moves up to 43rd in competitiveness; Singapore tops chart
India has moved up one place to rank 43rd most competitive economy in the world on the back of its robust economic growth, a large labour force and its huge market size, while Singapore has toppled the US to grab the top position, a global study showed.
Singapore has moved up to the top, from the third position last year, while the US has slipped to the third place in the 2019 edition of the IMD World Competitiveness Rankings. Hong Kong SAR has held onto its second place, helped by a benign tax and business policy environment and access to business finance.
Record 78 women MPs elected to 17th Lok Sabha
The highest-ever number of women have been elected in the 2019 Lok Sabha polls.
Out of 542 MPs who will take oath as members of the lower house in the next few days, 78 are women with Uttar Pradesh and West Bengal leading at 11 each.
A total of 724 women candidates contested from across the country with Congress fielding the maximum women at 54 followed closely by BJP at 53.
RBI extends timings for RTGS from 4:30 pm to 6:00 pm
The Reserve Bank of India has extended the last cut-off timing for customer transactions through Real Time Gross Settlement Systems (RTGS) from 4.30pm to 6pm on all working days, effective June 1, 2019.
Effectively, the transactions will now take place under three windows: 8am to 11am, 11am to 1am and 1am to 6pm. While customers who conduct transactions in the first window won’t have to pay any additional fee over and above the fixed processing charge, the additional fee for the second and third window has been set at Rs.2 and Rs.5 respectively.
Corporation Bank launches loan scheme for MSME sector
State-owned Corporation Bank has launched 'SMESuvidha' scheme to provide loans to the GST-registered MSMEs at affordable interest rates. The product is designed as a part of the lender's efforts to improve service and provide best products to MSME sector, the bank's MD P V Bharathi said in a statement Monday.
This is a unique product for GST-registered Micro, Small and Medium Enterprises (MSMEs). It provides a competitive interest rate structure in the industry and also has various concessions suiting the developing entrepreneur.
Saudi Arabia lifts export ban on fruits and vegetable from Kerala
As Kerala marks one year of its successful battle against the Nipah outbreak, exporters from the state have got a shot in the arm with Saudi Arabia lifting the ban on imports of fruits and vegetables from the state imposed in June, 2018 following the Nipah scare.
Exports of vegetables and fruits to the Saudi airports of Riyadh, Jeddah and Dammam are already back in full swing through the state’s airports after Saudi authorities recently lifted the ban.
Naveen Patnaik takes oath as Odisha CM for 5th term
Naveen Patnaik has taken oath as Chief Minister for the consecutive fifth time.
Governor Prof. Ganeshi Lal has administered the oath-taking ceremony at exhibition ground in Bhubaneswar today.
11 Cabinet Ministers and 9 other Ministers also have taken the oath.
BJP leader Pema Khandu sworn-in as Arunachal CM
Pema Khandu was sworn- in as the Chief Minister of Arunachal Pradesh for a second term.
Along with Pema Khandu, 11 other ministers of the cabinet were also sworn in.
Governor Dr. BD Mishra administered the oath of office and secrecy to the council of ministers.
Scott Morrison sworn in as Australia’s PM
Scott Morrison was sworn in as Australia’s Prime Minister on Wednesday, 11 days after retaining the position in the country’s general election.
Along with Deputy Prime Minister Michael McCormack, Mr. Morrison was sworn in by Queen Elizabeth’s official representative in Australia, Governor-General Sir Peter Cosgrove, at a ceremony in the capital, Canberra.
