Author: CNBC-TV18

Vedanta Aluminium launches third phase of ‘Project Panchhi’ in Odisha

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Vedanta Aluminium, India’s largest producer of aluminium, has launched its third phase of ‘Project Panchhi’ in Jharsuguda, Odisha. As part of this, 45 young girls have been identified for recruitment.

Speaking on the occasion, Sunil Gupta, COO, Vedanta Aluminium, said, “We believe in empowering the youth, particularly young girls, to overcome obstacles and achieve their aspirations.”

Project Panchhi’ is Vedanta’s corporate recruitment drive conceptualised under the leadership of Vedanta’s Chairman, Anil Agarwal.

It aims to employ 1,000 girls from economically backward communities, across its diverse businesses in metals, mining, oil and gas situated pan-India.

The target demography of this drive is girls from lower income families who are likely to opt out of pursuing further studies and a fulfilling career, owing to financial and social constraints.

Till date, the initiative has identified and selected more than 200 girls, many of whom are first-generation learners overcoming significant odds to reach the final stages of their schooling.

Once selected, these promising individuals will receive sponsorship for their higher education in renowned national institutions.

Post completion of their graduation, the job offers will get formalised and these girls will then join Vedanta’s operations as graduate trainees in core operations.

Previously, the programme has been conducted at Vedanta Aluminium’s operations in Korba in Chhattisgarh and in Lanjigarh and Sundargarh in Odisha.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Aditya L1, ISRO’s solar mission, to enter final orbit today: Here are key things to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Aditya L1, India’s maiden mission to study the Sun, is inching closer to its destination and will be injected into its final orbit on Saturday evening (January 6). ISRO will perform the final manoeuvre to inject the spacecraft — the first space-based Indian observatory to study the Sun — into its final destination orbit, some 1.5 million kilometres from the Earth.

According to ISRO officials, the spacecraft will be placed in a halo orbit around Lagrange point 1 (L1) of the Sun-Earth system.

The L1 point is about 1% of the total distance between the Earth and the Sun.

Here are key things to know about Aditya-L1 mission:

• Launched in September of the previous year, the spacecraft has completed four earth-bound maneuvers and a significant Trans-Lagrangean Point 1 Insertion (TL1I) maneuver, marking critical milestones in its journey.
• Positioned around 1.5 million kilometers from Earth, Lagrange Point 1 is a unique location in space where the gravitational forces between the Sun and Earth are in a delicate equilibrium. This point represents merely 1% of the entire distance between these celestial bodies.
• Following the successful landing of Chandrayaan-3 near the Moon’s South Pole, India’s esteemed space agency, ISRO, embarked on its maiden solar mission, Aditya-L1, launching it from the Satish Dhawan Space Centre in Sriharikota.
• Aditya-L1 marks ISRO’s inaugural solar mission, aimed at studying the Sun. This mission is a significant step forward in India’s space exploration endeavors.
• The Aditya-L1 mission commenced from the Satish Dhawan Space Centre in Sriharikota, a renowned spaceport from which various missions, including Chandrayaan missions.
• The Aditya L1 spacecraft will observe the photosphere, the chromosphere, and the corona of Sun. Photosphere is the visible surface of the Sun, while chromosphere is an irregular layer above the photosphere. Corona is the Sun’s outer atmosphere.
• The spacecraft carries seven payloads to observe the photosphere, chromosphere, and the corona using electromagnetic particle and magnetic field detectors.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of Maharashtra reduces home loan rate by 15 bps

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bank of Maharashtra (BoM) on Wednesday, January 3, reduced its home loan rate by 15 basis points to 8.35%. The lender has also waived off processing fees on home loans.

On the back of the news, shares of BoM closed 4.20% higher at ₹47.35 each on BSE.

The development came days after RBI Governor Shaktikanta Das-led monetary policy committee (MPC) kept the repo rate unchanged for the fifth time at 6.5%.

However, the central bank earlier implemented six consecutive rate hikes, totalling 250 basis points, until the pause in April.

In a separate development, the Bank of Maharashtra’s total business reached ₹4.35 lakh crore in third quarter of FY24, marking a 19% increase compared to the year-ago period.

Total deposits for the quarter stood at ₹2.46 lakh crore, reflecting an 18% year-on-year (YoY) rise from ₹2.08 lakh crore, the bank said in a regulatory filing.

While the CASA (current account savings account) percentage dipped slightly from 52.50% to 50.19% YoY, the bank maintained a healthy CASA deposit of ₹1.23 lakh crore in Q3, showing a 12.70% growth from ₹1.09 lakh crore in the corresponding period in the last fiscal.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Suspecting ‘possible terror attack’, Israel issues travel warning for India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Israeli National Security Council has raised concerns following an explosion near the Israeli embassy in New Delhi, suspecting it to be a potential terror attack, according to news agency Press Trust of India (PTI).

The blast, occurring in the Chanakyapuri diplomatic area, resulted in no injuries, confirmed by Israeli embassy spokesperson Guy Nir. Investigations by local authorities in collaboration with Israeli security forces are ongoing.

In response, the Israeli NSC has issued a travel advisory, specifically for India, urging Israeli citizens to avoid crowded places, locations catering to Westerners/Jews, and exercise heightened vigilance in public areas.

Recommendations include refraining from displaying Israeli symbols, avoiding unsecured events, and minimising real-time sharing of travel details on social media, the report said.

The Israeli Foreign Ministry, affirming no casualties, emphasised cooperation with local authorities for a comprehensive investigation. Delhi Police and specialised units swiftly responded to the incident, conducting an extensive search and collecting potential evidence for forensic analysis.

Security measures around the embassy and Israeli facilities have been reinforced after the incident.

Meanwhile, news agency ANI reported that Delhi Police have identified two suspects through CCTV footage examination. The focus now shifts to tracing the suspects’ route and means of access to the site.

Regarding the Israel Embassy incident yesterday, Delhi Police found two suspects after examining the CCTV footage. Police are now scanning CCTV visuals and trying to find out how the two suspects reached there and which route they took. Police also received a threatening letter…

— ANI (@ANI) December 27, 2023

This occurrence follows previous attacks on the Israeli embassy in New Delhi, highlighting the ongoing security challenges faced in the region.

There was an explosion outside the Israeli embassy in 2021 in which cars were damaged, but no casualties were reported.

In February 2012, the wife of an Israeli security staff at the embassy was injured in an attack on her car in New Delhi.

Security has been high around the Israel embassy in New Delhi since the war between Israel and Hamas began earlier this year, security officials said.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

G.O.A.T Brand Labs acquires Organic Netra

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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E-commerce roll-up firm G.O.A.T Brand Labs has acquired Organic Netra for an undisclosed sum. This move marks a significant development for Organic Netra, founded by Rajesh Meempat, known initially for its single product, the Organic Netra Baby Kajal.

It gradually expanded its portfolio to over thirty organic cosmetic items.

All products underwent testing and certification from institutes such as USDA, WHO-GMP, and Indian Institute of Toxicology Research (IITR), Organic Netra said.

The brand initially utilised marketplaces like Amazon and Flipkart to launch and sell the products. Further, it established an e-commerce store.

Rajesh Meempat, founder of Organic Netra said, “It is the time for me to move on and explore new opportunities. I am positive G.O.A.T. Brand Labs will take the brand to the next level.”

Earlier this year, G.O.A.T Brand Labs made an investment in innovative collaboration and community-building initiatives for Breakbounce, a unisex casual wear brand.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SCOPE app facilitates over $70 million to startups during October-December

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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SCOPE, a networking platform, has announced its involvement in securing substantial funding for startups, totaling around $70 million in the last quarter of 2023. One success story involves Wallex, a fintech company, which received $2.5 million in funding with the support of SCOPE.

This achievement attracted  investors like Strata and fostered a strategic relationship with Intel, SCOPE said in a statement.

Another instance is the assistance provided to Bruder, an emerging startup, in securing $6 million in seed funding from investors Veronotre, Escala, and Strata.

SCOPE’s contribution took various forms, including equity, debt, and convertible notes. It expanded its horizons by enabling fundraising for venture capitalists and connecting them with limited partners.

Appalla Saikiran, Founder & CEO of SCOPE said, “SCOPE’s dedication to fostering innovation has led to over $70 million in funding to visionary startups.”

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Shivalik Group to deliver 1,000 green certified homes, commercial spaces in Ahmedabad

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shivalik Group will be delivering 1,000 green certified homes and commercial spaces in Ahmedabad. The four projects, namely Shivalik Parkview 2 in Shela, Shivalik Edge on Ambli-Bopal Road, Shivalik Platinum on Judges Bungalow Road, and Shivalik Enclave in Shahibaug, have received the BU permission, and the process of handing over the apartments to home buyers will begin soon, Shivalik Group said.

All four projects are certified green and sustainable by the Indian Green Building Council (IGBC), strengthening Shivalik Group’s vision to promote environmentally conscious and energy-efficient construction practices, it said.

Taral Shah, Managing Director of Shivalik Group, said, “Handing over 1,000 units almost simultaneously is unprecedented in Ahmedabad.”

In its 25 years of presence in the real estate industry, Shivalik Group has delivered more than 8,000 units across 75 residential and commercial projects. The group plans to continue its track record by handing over an additional 500 homes by mid-2024, it said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

EPFO adds 28.69 lakh net women members in FY23

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Retirement fund body Employees’ Provident Fund of India (EPFO) recorded a net new women subscribers addition of nearly 28.69 lakh in FY23 against 15.94 lakh in 2019-20, Parliament was informed on Thursday. In a written reply to the Rajya Sabha, Minister of State for Labour & Employment Rameshwar Teli said that the net addition in EPFO’s subscriptions is an indicator of the extent of job creation and the coverage of social security benefits to the organised/semi-organised sector workforce.

The data, covering medium and large formal sector establishments, displayed a surge:

Declining female unemployment rate and improved labor force indicators

Teli also informed the House that the estimated female unemployment rate (UR) on usual status for persons of age 15 years and above in the country declined to 2.9% in 2022-23 from 4.2% in 2019-20, as per the Periodic Labour Force Survey (PLFS).

It was 3.5 in 2020-21 and 3.3 in 2021-22.

The data indicates that the labour force indicators in 2022-23 for women are better than the pre-COVID period, the minister told the House.

Teli said the estimated female worker population ratio (WPR) increased to 35.6% during 2022-23 from 28.7% in 2019-20.

Government’s initiatives for enhancing employability

Emphasising the government’s focus on employment generation and improving employability, Teli outlined several measures:

Labour laws and  codes: The government incorporated provisions in labor laws, such as the Code on Social Security, 2020, which enhances paid maternity leave to 26 weeks, mandates creche facilities in larger establishments, and ensures safety measures for women working night shifts.

Code on occupational safety, health and working conditions (OSH), 2020: This code allows the employment of women in specified roles in mines during certain hours, ensuring safety protocols.

Code on wages 2019: Provisions prohibit gender-based discrimination in wages or recruitment for similar work.

Training initiatives: The government provides training through Women’s Industrial Training institutes, National Vocational Training Institutes, and Regional Vocational Training Institutes to enhance female workers’ employability.

Teli expressed optimism about the collective impact of these initiatives in generating employment through multiplier effects in the medium to long term.

–With PTI inputs

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

World Computer Literacy Day 2023 — A bridge over the digital divide

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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World Computer Literacy Day was first celebrated in December 2001 to promote digital learning and raise awareness about the use of computers.

The advent of digital technology has forever changed our lives. From financial transactions to online classes and from shopping to availing benefits of key government schemes, we have become more reliant on computers and the internet for many important tasks in day-to-day life. With the rising dependence on digital technology, learning computers is inevitable for all.

Every year, World Computer Literacy Day is observed worldwide to boost digital literacy and to support the initiatives for offering computer training to those who can’t afford it. The day is aimed at empowering women and underprivileged sections of society with knowledge and information to make them a part of an increasingly tech-dependent world.

World Computer Literacy Day: History

World Computer Literacy Day is an initiative of NIIT (National Institute of Information Technology), an Indian company. The day was established on December 2, 2001, on the occasion of the 20th anniversary of the institute.

Significance

World Computer Literacy Day provides a significant solution to the gaps in digital learning across many countries. Today, there are lots of people who are left out of computer literacy. As such, this day must work towards bridging these gaps in all fields. This event highlights the significance of computers as an imperative modern requirement in the day-to-day life of an increasingly digitised world. Moreover, World Computer Literacy Day is critical in bridging the digital divide, mostly among females and young people from backward sections.

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Theme

The advancements made in technology notwithstanding, some societal segments still face digital deprivation. World Computer Literacy Day fights against this digital divide by promoting computer literacy across the entire society. Every year, a specific theme is selected to highlight the importance of computer literacy in modern society. However, the World Computer Literacy Day theme for 2023 has not yet been officially announced.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

16th Finance Commission Terms of Reference will not be expanded: Finance Secretary Somanathan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Finance Secretary TV Somanathan clarified that the Terms of Reference (ToR) for the 16th Finance Commission would not be expanded. Emphasising the Centre’s decision to maintain simplicity in the ToR following feedback from various states, Somanathan highlighted that the announcement of the Chairman and members of the Commission is imminent.

The Finance Secretary elaborated on the states’ feedback, indicating that the consensus was that the Commission itself would provide the necessary discipline rather than an exhaustive set of Terms of Reference. Somanathan stressed that delving excessively into defining the Commission’s functions in detail was unnecessary.

“Nothing more will come on the FinComm ToR,” stated Somanathan, underscoring the consultations held with states and Union Territories (UTs) that led to the development of shorter Terms of Reference. The principle of “less is more” has been adopted to grant the Commission greater leeway and flexibility in its operations.

Somanathan highlighted the neutrality of the ToR, noting that they offer sufficient space for states to operate within. This approach aims to empower the panel to function more effectively without being bound by overly prescriptive parameters.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow