The 28th Meeting of the Standing Advisory Committee to review the flow of credit to Micro, Small and Medium Enterprises - MSME sector was held under the chairmanship of RBI Deputy Governor Mr. Swaminathan J, in Lucknow today. Emphasising the significant role of the MSME sector, particularly in the context of the goal of attaining developed economy status by 2047, the RBI Deputy Governor stressed the need for collaborative efforts on the part of all stakeholders to unlock the full potential of MSMEs. He also highlighted various initiatives taken by the Reserve Bank such as the Account Aggregator framework, the digital Public Tech Platform to enable delivery of frictionless credit and the regulatory sandbox on MSME lending.

According to an official press release issued from Mumbai, the meeting was attended by Senior Officials from Ministry of MSME, Ministry of Finance, Senior Management of major banks and NABARD, senior executives of Credit Guarantee Fund Trust for Micro and Small Enterprises, National Credit Guarantee Trustee Company Limited, Khadi and Village Industries Commission, Indian Banks’ Association and MSME Associations.

The Combined Index of Eight Core Industries (ICI) rose to a 14-month high of 12.1 percent provisionally in August this year as compared to the Index of August 2022. According to data released by the Ministry of Commerce and Industry today, the production of all Eight Core Industries namely, Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel recorded positive growth in August 2023 over the corresponding month of last year. The figure for July has been revised upwards to 8.4 percent from 8.0 percent.

In August 2022, core sector growth was 4.2 percent. ICI measures combined and individual performance of production of eight core industries. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.

Education Minister Dharmendra Pradhan will launch Bharatiya Bhasha Utsav and Technology and Bharatiya Bhasha Summit in New Delhi today. The two-day summit aims to set course for a technologically enriched future for Bharatiya languages in education. The summit will encompass three pivotal thematic sessions with special focus on the integration of technology in promoting Bharatiya Bhasha, including its role in teaching, training, examination, and translating educational materials.

Jamshedpur: Tata Steel on Thursday said it has signed an agreement with Indian Oil Corporation Limited and its business associate to further reduce carbon footprint at its Ferro Alloys plant. The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha, the steel major said in a statement.

Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions.

Cognizant Technology Solutions on Thursday named former Wipro chief financial officer Jatin Dalal as its CFO, a week after his resignation from the Indian information technology (IT) major.

Dalal is the second high profile hire by Cognizant in the past twelve months, after it named former Infosys President Ravi Kumar S as its CEO in January.

Dalal will take over the role from current CFO Jan Siegmund in December, who is due to retire in early 2024, the IT services firm said in a statement.

Uttarakhand Chief Minister Pushkar Singh Dhami, while participating in the roadshow organized for the Global Investors Summit in London, signed investment MoUs worth Rs 4800 crore. The state government held a meeting with many leading business houses of London, where the MoUs were signed with different companies.

Two separate MoUs worth Rs 3800 crore were signed with Kayan Jet and investment MoUs worth Rs 1 thousand crore was signed with Usha Breco. An investment MoU of Rs 2100 crore for developing a skiing resort in Uttarakhand and Rs 1700 crore for cable car project was signed by Kayan Jet. It was agreed to develop skiing resort projects in Auli, Dayara Bugyal and Munsiyari by Kayan Jet. Along with this, it was agreed to develop a ropeway in Haridwar and other districts by Usha Breco Limited. Around 80 business houses from education, tourism, IT, health sectors of London participated in the main event organized in London.

The Indian Air Force (IAF) has welcomed the arrival of the first of six brand-new Dornier Do-228 aircraft, exclusively manufactured by Hindustan Aeronautics Limited (HAL). This upgraded version of the aircraft boasts new engines, composite propellers, advanced avionics, and a modern glass cockpit.

The Ministry of Defence inked the deal back in March, securing the procurement of six Dornier-228 aircraft from HAL for the IAF, with a budget of Rs 667 crore. Originally employed by the IAF for Route Transport Role and communication tasks, these aircraft have also played a vital role in training transport pilots.

Launched in September 2019, Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets* based on seven high-frequency indicators. With a composite score of 73, India topped the EM league table in August. China and Mexico were second and third, respectively.

China climbed two places despite slowdown fears. Inflation remained under control and though lower-than-expected, GDP growth was among the best.

Mexico jumped three spots to the third in August, with a relatively controlled drop in its currency, and inflation, too, in check.

The “disturbed area” status under the Armed Forces (Special Powers) Act or Afspa will continue to remain in place in all of Manipur, except those under 19 police stations in the valley districts, with the state government Wednesday stating it opted for “status quo” in the light of the prevailing law and order situation.

The “disturbed areas” notification issued on Wednesday will come into effect from October 1 in the violence-hit state. It is applicable for six months, following which it can be periodically extended by the Union Ministry of Home Affairs (MHA) after assessing the situation in Manipur.

Android users in India can now get alerts for earthquakes thanks to a new system launched by Google. The system uses the sensors in your phone like the accelerometer to sense an earthquake and warn you in advance.

The Android Earthquake Alerts System is already deployed in many countries across the world helping provide an early warning when earthquake shaking begins. But Google is now bringing it to India in consultation with the National Disaster Management Authority (NDMA) and the National Seismology Center (NSC).