Jio Financial Services received approval by the Reserve Bank of India (RBI) on Thursday to become a Core Investment Company (CIC) from a Non-Banking Financial Company (NBFC), said the company in an exchange filing.

Reliance Industries Ltd,a conglomerate that focuses in energy to telecom, split out to form Jio Financial Services.

In November of last year, Jio Financial Services submitted an application to the RBI to convert from an NBFC to a CIC.

In order to incorporate the firm, Jio Financial Services applied to the RBI following the demerger of Reliance Industries' financial services division.

Bajaj Finserv Asset Management has launched a new financial product for retail investors looking to get returns on their idle savings. Finserv Savings+ offering seeks to bridge the gap between traditional savings accounts and more lucrative investment options, said the company.

Savings+ allows investors to identify surplus cash in their savings accounts and seamlessly invest it in Bajaj Finserv AMC Liquid Fund and Overnight Fund. These funds promise competitive returns while maintaining the liquidity that consumers expect from savings accounts.

Liquid funds delivered an impressive 7.17 per cent return between July 2023 and June 2024, outperforming average savings account interest rates. Investors can also benefit from T+1 day liquidity, with an option for instant redemption of up to Rs 50,000 or 90 per cent of invested value, whichever is lower, within minutes.

The Opposition on Saturday denounced the Centre’s move to widen the scope of Jammu and Kashmir lieutenant governor’s (LG) powers on key administrative and legal matters — ranging from police and public order to postings and prosecution sanction — saying that the step will render the chief minister “powerless” and “disempower” the region’s people.

The ministry of home affairs (MHA) on Friday amended the transaction rules pertaining to the J&K Reorganisation Act, 2019, which was enacted alongside the revocation of Constitution’s Article 370 for the bifurcation of the erstwhile state into the Union Territories of J&K and Ladakh.

The team of Institute of Technology, Nirma University won the Robot Competition DD-Robocon India 2024. The two day event began on Saturday at Thyagaraj Stadium in New Delhi. This event was organised by Prasar Bharati and IIT Delhi. The winning team will now represent India at the international Asia-Pacific Broadcasting Union Robocon 2024 in QuangNinh, Vietnam. Pimpri-Chinchwad College of Engineering, Pune secured the first runner-up position, while MIT World Peace University Pune claimed the second runner-up spot. More than 750 students from over 45 colleges, institutions, and universities participated in the event. DD-Robocon India aims to foster technical skill development, innovation, and teamwork among engineering students, providing them with visibility and recognition in the field of robotics. The competition serves as a prestigious platform for showcasing and enhancing students’ engineering and robotics capabilities.

Dubai's Roads and Transport Authority (RTA) has launched the trial operation of the world's first electric abra manufactured using 3D printing technology, in collaboration with the private sector.

The abra, which can carry 20 passengers, was designed, and built to retain the traditional abra identity. This initiative supports the government's efforts to achieve Dubai's 3D printing strategy. It aims to reduce abra manufacturing time by 90 percent, slash manufacturing costs by 30 percent, and cut operation and maintenance expenses by 30 percent. Additionally, it supports RTA's environmental sustainability strategy for maritime transport.

Sharjah Electricity, Water and Gas Authority (SEWA), represented by the Services and Technical Support Department for Information and Communication Technology, received a global certificate from the international organisation "PrintReleaf Standard", in recognition of its distinguished efforts in contributing to achieving sustainable development and preserving the environment.

SEWA launched an initiative in cooperation with Xerox Emirates to participate in the global reforestation programme approved by the organisation. During the planting of trees in exchange for the papers that are printed, SEWA achieved outstanding results within the programme and was able to plant 115 trees from 1st January to 31st May 2024.

The Art of Living, under guidance from world renowned spiritual leader and humanitarian Gurudev Sri Sri Ravi Shankar, has been addressing critical issues that impact the wellbeing of the nation. From water conservation and agricultural sustainability to environmental protection, afforestation, rural development, women's empowerment, skill development, free education, waste management, and renewable energy; The Art of Living has been at the forefront of driving positive change.
The organisation's efforts have not gone unnoticed.
Double Recognition for Excellence in '24

The Art of Living was honoured as the Best NGO of the Year 2024 for water conservation initiativesat the Global CSR & ESG Awards. This prestigious recognition, accepted by Chairman Shri Prasana Prabhu, highlights the collaborative efforts that have driven success and reaffirms the organisation's commitment to achieving water positivity in India. Earlier this year, the organisation also received the Best CSR Impact Award for the JalTara Project at the NGI CSR Summit, emphasising significant contributions to environmental and social sustainability.

Subhash Prasad Gupta, presently serving as India’s Deputy Chief of Mission in Hanoi, has been appointed as India’s next ambassador to Suriname, the Ministry of External Affairs (MEA) said in a statement.

Subhash Pradesh Gupta is the Foreign Service Officer of the 2006 batch. He is expected to take up the assignment shortly, according to MEA.

In a statement, MEA said, “Shri Subhash Prasad Gupta (IFS:2006), presently Deputy Chief of Mission in the Embassy of India, Hanoi, has been appointed as the next Ambassador of India to the Republic of Suriname.”

NITI Aayog has announced the launch of the ‘NITI GearShift Challenge’ as part of the e-FAST India initiative. This pioneering hackathon aims to foster innovative business models for the adoption of zero-emission trucks in India, addressing the nation’s pressing economic and environmental challenges.

NITI Aayog has also invited students, transport service practitioners, academics, and researchers to develop innovative business models that address financial, technical, and operational challenges in the adoption of electric trucks. The program has garnered participation from e-FAST India knowledge partners, financial institutions, and industry forums.

The ‘NITI GearShift Challenge’ is being organised in collaboration with IIM Bangalore, Smart Freight Centre India, WRI India and other institutions. NITI Aayog said that the hackathon will unfold in two rounds. It said that the GearShift Challenge marks a pivotal move towards sustainable freight transportation in India.

The Himachal Pradesh Cabinet on Friday gave its approval to rationalise the provisions for zero electricity bills for domestic consumers by restricting subsidy to 'one family one meter' and interlinking power connections with ration cards.

In a meeting held here under the chairmanship of Chief Minister Sukhvinder Singh Sukhu, the state Cabinet has decided to abolish the entire subsidy on electricity bills of chief minister, former CMs, speaker, deputy speaker, ministers, MP, MLAs, former ministers, chairman of boards/ advisors, OSDs, all Class-I and Class 2 employees of the government/corporations/boards, including IAS, IPS and other officers and all income taxpayers, according to a statement.

Previously, electricity bills for up to 125 units/month were free in Himachal Pradesh.