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Government approves one-year extension to RBI Deputy Governor Rabi Sankar

The government has extended the term of RBI Deputy Governor T Rabi Sankar for a period of one year, according to sources. The Appointments Committee of the Cabinet has approved the re-appointment of T Rabi Sankar, Deputy Governor Reserve Bank of India, for a period of one year with effect from May 3, 2024, they said. He was appointed as the RBI Deputy Governor in May, 2021 for a period of three years. He had joined the RBI in 1990 and worked in various positions at the central bank. He was Executive Director of the Reserve Bank before being elevated to the post of deputy governor. As an executive director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department of the RBI. He has served as an IMF Consultant (2005-11) on developing government bond markets and debt management. In addition to his professional career at the RBI, he is the Chairman, Indian Financial Technology and Allie

Artificial intelligence framework on the anvil, brainstorming begins

Dedicated regulation expected after the Lok Sabha elections

India's FY24 pulses imports hit 6-year high as red lentil purchases jump

India imported 4.65 million metric tons of pulses in the year ended March 31, 2024, the highest since fiscal 2018, and up from 2.53 million tons imported a year ago

Govt notifies specifications of Iffco's 'Nano Urea Plus' fertiliser

The government has notified specifications of a new product 'Nano Urea Plus' fertiliser to be manufactured by cooperative IFFCO in the country for the next three years. Nano Urea Plus is a new version of nano urea meant for meeting crop nitrogen requirements at critical growth phases. As per the gazette notification, the government has approved Nano Urea Plus in liquid form with 16 per cent nitrogen content and pH value of 4-8.5 and viscosity of 5-30. This product will be manufactured by the cooperative major IFFCO for a period of three years, it said. "IFFCO's Nano Urea Plus is an advanced formulation of Nano Urea in which nutrition is redefined to meet crop nitrogen requirements at critical growth phases. It is used in place of conventional urea and other nitrogenous fertilisers for promoting soil health, farmer's profitability & sustainable environment," IFFCO Managing Director and CEO U S Awasthi said on a social media platform X. It also enhances the availability and ...

UPSC IES, ISS 2024: Registration starts at upsconline.nic.in, detail inside

The Union Public Service Commission (UPSC) has issued the official UPSC IES and ISS 2024 notice looking for applications through the official site at upsconline.nic.in or upsc.gov.in

Govt waives duty on export of 1,000 tonnes of non-basmati kalanamak rice

The government has removed duty on the Kalanamak variety of rice for exports of up to 1,000 tonnes through six specified customs stations. The duty on overseas shipments of Kalanamak rice was 20 per cent. According to a notification by the Finance Ministry, the duty waiver on the export of up to 1,000 tonnes of this variety of rice will come into effect from Wednesday. The Directorate General of Foreign Trade (DGFT) on Tuesday had allowed exports of up to 1,000 tonnes of Kalanamak rice through specified customs stations. Kalanamak is a variety of non-basmati rice, exports of which were earlier prohibited. Exports of this variety of rice are allowed through six customs stations - Varanasi Air Cargo; JNCH (Jawaharlal Nehru Customs House), Maharashtra; CH (customs house) Kandla, Gujarat; LCS (land customs station) Nepalgunj Road; LCS Sonauli; and LCS Barhni.

Now, artificial intelligence to help spread access to govt schemes

Beneficiaries will be prompted to join other schemes on meeting criteria

GeM considering a pilot scheme to sell products directly to consumers: CEO

Goods, services worth over Rs 4 trillion procured in FY24

Interest rates on small savings schemes remain unchanged for April-June qtr

The government on Thursday said the interest rates on various small savings schemes will remain unchanged for the quarter beginning April 1, 2024. "The rates of interest on various small savings schemes for the first quarter of FY 2024-25, starting from April 1, 2024, and ending on June 30, 2024, shall remain unchanged from those notified for the fourth quarter (January 1, 2024, to March 31, 2024) of FY 2023-24," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and post office savings deposits scheme too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the ...

Ministries test the AI waters: Try out use cases in bid to reduce workload

'A case study is being carried out across ministries by a dedicated wing which consists of experts to figure out the AI use cases under AI mission,' a senior government official said

CUET UG 2024: Registration deadline ends today at exams.nta.ac.in

The Common University Entrance Test Undergraduate 2024 registration deadline is today (March 26). Thus, eligible students should hurry as the online registration for the test ends today by 11:50 pm

Top 5 Government educational schemes for children; details inside

The purpose of government educational schemes for children is to provide monetary help to the students to assist them with achieving the target of availing education

Supreme Court stays govt notification on setting up of fact-check units

Comedian Kunal Kamra, the Editors Guild of India, and the Association of Indian Magazines challenged the formation of FCUs to monitor social media content on government

India has a lot more trust in technology than others: KPMG's Brenda Walker

The Indian government is seeking more advice and strategic direction on sustainability, ESG goal, decarbonisation efforts across supply chain in almost all industries

Oil marketing companies to bear latest oil price cut, not govt grant

OMCs have raked in record Rs 69K cr net profit in first 9 months of FY24

Govt exempts certain exporting units from quality control orders

The government on Friday exempted advance authorisation holders and export-oriented units (EOUs) from mandatory quality control orders for imported goods that are used as inputs for exports. It said that the exemption will be with pre-import conditions, and those inputs will be utilised in the manufacturing of the export products. "Enabling provisions are made for exempting inputs imported by Advance Authorisation holders and EOUs from mandatory Quality Control Orders (QCOs)," the Directorate General of Foreign Trade (DGFT) said in a notification. The unutilised material will be destroyed in the presence of jurisdictional GST/customs authorities, it added. Mandatory QCOs help curb the import of sub-standard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment. QCOs are applicable for products domestically manufactured as well as imported. Every manufacturing unit in and outside India has to comply with these orders i

Govt plans to procure 5 lakh tonnes of onions this year for buffer stock

The government is planning to procure 5 lakh tonnes of onions this year for its buffer stock that can be used to intervene in the market in case of a price rise, according to sources. The food and consumer affairs ministry had created 5 lakh tonnes of buffer stock last year, of which 1 lakh tonne is still available, they added. Agencies like NCCF and NAFED will procure onion on behalf of the government. Sources said that the government's decision to sell onions at a subsidised rate from its buffer stock has helped in controlling prices. The government will take a decision on lifting the ban on onion exports later this month. The ban is till March 31. The government's plan to create buffer stock comes amid an estimated fall in onion output in 2023-24. "Production of onion in 2023-24 is expected to be around 254.73 lakh tonnes compared to around 302.08 lakh tonnes last year due to a decrease of 34.31 lakh tonnes in Maharashtra, 9.95 lakh tonnes in Karnataka, 3.54 lakh tonnes in And

10K GPUs under IndiaAI mission to be in place over 18-24 months: IT secy

The graphics processing units approved under the IndiaAI Mission will be made available in the next 18-24 months, a top government official said on Friday. Speaking on the sidelines of Tie-Con Delhi-NCR, Electronics and IT Secretary S Krishnan said that the government will invite bids from the industry under the mission and provide viability gap funding for GPU-based computing infrastructure. Our target is that the GPUs under the AI machine should be available between 18 and 24 months and will not be directly available under this mission, Krishnan said. The Cabinet has approved the India AI Mission with an outlay of Rs 10,372 crore for five years to encourage AI development in the country. Under the mission. supercomputing capacity, comprising over 10,000 GPUs (graphics processing units), will be made available to various stakeholders for creating an AI ecosystem. The demand for GPU-based servers has increased as they can process data at a higher speed compared to CPU-based ...

Govt to procure selected crops at MSP if farmers opt for diversification

The government is planning to undertake guaranteed procurement of pulses -- tur, urad and masoor -- and maize at MSP from farmers if they opt for diversification from paddy crop, sources said. The Centre also mulling procuring cotton at minimum support price (MSP) without any condition of diversification, they said. The government agencies like NAFED and NCCF may enter into contracts with farmers for five years, official sources said. According to sources, the government could consider procurement of pulses, maize and cotton at MSP without any quantative restrictions, in case the farmers opt to move away from the water-guzzling paddy crop. A portal is being created by the Food and Consumer Affairs Ministry where farmers can register by providing details like their Aadhaar Card number. In the portal, farmers will have to self-certify and mention diversification into these pulses and maize crops. Last month, a panel of three Union ministers proposed buying of these five crops by ...