Savart Launches Fully Automated Investment Fund - 'The Ad Astra Fund'
Savart, one of India's largest investment advisors, launched its maiden and flagship Portfolio Management Service (PMS) 'The Ad Astra Fund' in Hyderabad. The launch event was graced by eminent investors and industrialists from across the country. The fund received investment commitments amounting to INR 31 crore on the launch day itself and plans to achieve an AUM of INR 350 crore by FY24's end.
Centre Announces up to Rs. 50 lakh Grant for Technical Textiles Start-ups
The government will provide a grant-in-aid of up to Rs. 50 lakh for start-ups and individuals to promote innovation in the niche technical textiles segment.
The Start-up Guidelines for Technical Textiles - Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) providing grant-in-aid of up to Rs. 50 lakh for up to a period of 18 months was approved.
With a strong emphasis on developing the start-up ecosystem in technical textiles, the guidelines focus on supporting individuals and companies to translate prototypes to technologies & products, including commercialisation.
Sep 01, 2023
Bandhan Bank Authorized by RBI for Civil Pension Disbursement
Bandhan Bank was appointed by the Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO), Ministry of Finance, for civil pensioners. The Bank will soon be integrating with the office of the CPAO to operationalise the disbursement process.
This authorisation entitles the Bank to disburse pensions to the Central Government employees in Civil Ministries and Departments (other than Railways, Posts, and Defence), the National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired Judges of the High Courts and the Supreme Court, and All India Service Officers.
This Scheme also covers the payment of pensions to former Members of Parliament and the payment of pensions and other amenities to former Presidents and Vice Presidents of India.