Meghalaya Inaugurates First Scientific Coal Mining Block
Meghalaya Chief Minister Conrad K. Sangma inaugurated the state's first scientific coal mining block, "Saryngkham-A", at Byndihati in East Jaintia Hills. This marks a significant shift from the traditional rat-hole mining, which was banned by the National Green Tribunal (NGT) in 2014 due to safety and environmental concerns.
In 2014, the NGT imposed a blanket ban on coal mining in Meghalaya owing to its hazardous and unscientific "rat-hole" mining practices. This method involved narrow tunnels where miners manually extracted coal, leading to numerous fatal accidents and severe environmental degradation. The coal-rich Jaintia Hills region was particularly affected by these unsafe mining techniques.
Govt. Appoints Rahul Bhave as MD of IFCI
Rahul Bhave, serving as Deputy Managing Director, was appointed as MD and CEO of Industrial Finance Corporation of India (IFCI) for three years from the date of taking over.
The appointment was approved by the Appointments Committee of the Cabinet (ACC), headed by the Prime Minister.
The Industrial Finance Corporation of India (IFCI) was set up by the government on July 1, 1948, as the first development financial institution in the country.
The finance ministry, in November 2024, in principle approved the 'Consolidation of IFCI Group', which entails the merger/amalgamation of IFCI Ltd and Stock Holding Corporation of India Ltd and other group companies.
Harvest Company Launches Social Media App and Digital Currency in Jaipur
In a significant move towards digital innovation, Harvest Company unveiled its new social media application and digital currency during a grand launch ceremony held at the Atlantis Banquet in Jaipur, Rajasthan. The event highlighted the future and importance of digital currency, emphasising its potential to revolutionize the way people interact and transact online.
The event was organised by Prince Saini, who elaborated on the features of the newly launched app.
The launch also introduced Harvest Company's digital currency, which Saini described as one of the most growth-oriented currencies of the modern era. The company aims to make this currency accessible to the general public, educating them about its benefits. The digital currency stands out due to its reward system, which offers periodic incentives to users.
Mar 23, 2025
Wipro, Tech Mahindra, L&T Tech Services Announce Partnership with Nvidia
IT services firms Wipro, Tech Mahindra, and L&T Technology announced individual partnerships with chipmaking giant Nvidia for AI-based solutions for various industries.
These software firms are showcasing the solutions leveraging Nvidia technologies at the US-based chip major's ongoing annual GPU Technology Conference (GTC) in California.
Mar 22, 2025
SEBI Partners with DigiLocker to Reduce Unclaimed Assets and Strengthen Investor Protection
The Securities and Exchange Board of India (SEBI) partnered with DigiLocker to streamline access to investors' securities holdings and reduce unclaimed assets in the Indian securities market. This initiative enables investors to store and retrieve their demat holdings, mutual fund statements, and Consolidated Account Statements (CAS) through DigiLocker, ensuring seamless access to financial information. Additionally, SEBI introduced a nomination facility that allows investors to appoint legal heirs for smooth asset transition, facilitated by KYC Registration Agencies (KRAs). This move aims to enhance investor protection and financial transparency while minimizing unclaimed assets.
Former SBI & LIC Chiefs among New Members of IRDAI's Advisory Panel
The Insurance Regulatory and Development Authority of India (IRDAI) inducted more members to its Insurance Advisory Committee (IAC) from diverse sectors, including former State Bank of India (SBI) chairman Dinesh Khara. IAC advises the regulator on matters related to insurance regulations.
The new members of Insurance Advisory Committee (IAC) include former Life Insurance Corporation (LIC) chairman M. R. Kumar, former SBI chairman Khara, Aditya Birla Capital CEO Vishakha Mulye, Kotak Mahindra Asset Management Company's MD Nilesh Shah and former CMD of General Insurance Corporation Re (GIC) Alice G. Vaidyan. The committee is responsible for advising IRDAI on regulatory matters concerning the insurance industry.
SEBI Reduces Minimum Investment in SSE to Rs. 1,000
The Securities and Exchange Board of India (SEBI) reduced the minimum investment amount for Zero Coupon Zero Principal (ZCZP) instruments on the Social Stock Exchange (SSE) from Rs. 10,000 to Rs. 1,000. This decision, based on recommendations from the Social Stock Exchange Advisory Committee, aims to enhance retail participation and increase funding for non-profit organizations (NPOs). The move is expected to channel more capital into sectors such as education and healthcare, strengthening India's social impact investment framework. The change modifies SEBI's previous directive from September 19, 2022, and comes into effect immediately.
Mar 21, 2025
PhonePe Wealth Launches CRISP, Online Tool to Select Mutual Funds
PhonePe Wealth launched CRISP, a digital tool that will help investors make "well-informed decisions" in selecting mutual funds.
Mutual fund investments continue to rise, with the number of unique investors growing from 20 million in December 2019 to 53 million in December 2024, according to data from the Association of Mutual Funds in India (AMFI).
CRISP, short for consistency, risk and investment style of the portfolio, addresses this challenge by offering a "comprehensive framework" beyond merely analysing past returns.
IT Firm Happiest Minds Appoints Joseph Anantharaju as CEO, Co-Chairman
IT company Happiest Minds Technologies announced apex-level changes in its organisation structure, effective immediately.
Joseph Anantharaju was elevated to Co-Chairman and CEO of the Bengaluru-headquartered firm.
He will now head all business divisions of the company: Product & Digital Engineering Services (PDES), Infrastructure Management & Security Services (IMSS), and GenAI Business Services (GBS).
Earlier, he served as the executive vice chairman, president & CEO of the PDES Division up till now.
Its Chairman Ashok Soota will now take up an additional position as the Chief Mentor.
Venkatraman Narayanan will continue as the MD & CFO of Happiest Minds. He will head the finance, talent acquisition, internal IT, learning & development, ESG, CSR, procurement and administration teams.
TCS Signs 5-year Partnership with Air New Zealand to Modernise Digital Infra
Tata Consultancy Services (TCS) signed a five-year partnership with Air New Zealand to modernise the airline's digital infrastructure and position it at the forefront of artificial intelligence (AI)-driven innovation.
The collaboration aims to enhance Air New Zealand's digital capabilities, improve customer experience, and drive operational efficiencies across various aspects of its business, including fleet management, crew scheduling and ground services.
Mar 20, 2025
Deena Mehta Re-appointed as Independent Director of Fino Payments Bank
Fino Payments Bank (FPB) re-appointed Deena Mehta as an Independent Director for a second term from March 2025, to March 2028. A highly experienced finance professional, Mehta has made significant contributions to the Indian capital markets and has been associated with key reforms, including the implementation of the BOLT trading system at BSE and the establishment of Central Depository Services (CDSL). Her expertise in finance, securities law, and capital market operations makes her a valuable addition to the board of FPB.
Adani Group Partners with Indo-German Chamber of Commerce to Develop Industry-ready Skilled Talen...
Adani Group launched a nationwide initiative to strengthen India's workforce by introducing the country's largest 'Skill and Employ' program in support of the 'Make in India' campaign.
Through a strategic partnership with the Indo-German Chamber of Commerce (IGCC), the Adani Group aims to develop a skilled talent pool for industries such as green energy, manufacturing, high-tech sectors, project excellence and industrial design, among others.
Established in 1956, IGCC is a non-profit organisation and the largest German bi-national chamber abroad, as well as the largest chamber of commerce in India, with close to 4,000 member companies across diverse sectors.
IDFC FIRST Bank Launches ACE Feature on the Mobile Banking App
IDFC FIRST Bank unveiled Ace Feature on its premium Mobile Banking App, that provides relevant insights and tools to allow investors make an informed Mutual Fund investment decision. This feature aims to empower an individual with 'do-it-yourself' investing, digitally.
The ACE Feature on the IDFC FIRST Bank app provides rich and useful details on more than 2500 Mutual Funds in India. Investors can browse through various fund categories (like Equity, Debt, Tax-Saving, Hybrid, and Index funds) and choose the right need-based fund to build a diversified portfolio.
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