In a move aimed at enhancing member convenience and promoting “Ease of Living”, the Employees’ Provident Fund Organisation (EPFO) has introduced a significant simplification in the transfer of Provident Fund (PF) accounts. As of January this year, EPFO has revamped the Form 13 functionality, removing the need for employer approval in most cases when an employee changes jobs.

Previously, transferring PF accumulations required the involvement of 2 EPF offices — the Source Office and the Destination Office. The new process eliminates the mandatory approval at the Destination Office. Once a transfer claim is approved at the Source Office, the PF amount will be automatically and instantly credited to the member’s new account at the Destination Office.

Additionally, the revamped system now bifurcates taxable and non-taxable components of PF accumulations, enabling accurate calculation of Tax Deducted at Source (TDS) on taxable PF interest.

This reform is expected to benefit more than 1.25 crore members and facilitate the transfer of around ₹90,000 crores annually by significantly speeding up the transfer process.

Introduction of Bulk UAN Generation without Aadhaar Seeding

In a parallel initiative designed to further the “Ease of Doing Business”, EPFO has launched a facility enabling employers to generate Universal Account Numbers (UANs) in bulk without the prior requirement of Aadhaar seeding.

This change addresses a critical challenge — the accounting of past accumulations remitted by Exempted PF Trusts after the surrender or cancellation of their exemption, and in other cases involving remittances following quasi-judicial or recovery proceedings. EPFO has now relaxed the Aadhaar requirement for generating UANs and crediting past accumulations for such members.

A dedicated software functionality has been deployed and made available to Field Offices, allowing bulk generation of UANs based on member IDs and other available information. Importantly, to ensure the security of member funds, all UANs generated through this route will remain in a frozen state. They will only be activated once Aadhaar seeding is completed.

Read More: UAN Member Portal: EPFO Member Portal Registration. 

Conclusion

These initiatives are expected to dramatically improve EPFO’s service delivery by reducing grievances related to PF transfer delays and improper accounting of past contributions. Furthermore, streamlining validations for the auto-settlement of eligible claims will provide greater efficiency and transparency in EPFO operations.

By introducing these member-centric reforms, EPFO continues to align with its commitment to simplifying processes and enhancing the experience for millions of its members.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Defence Research & Development Laboratory (DRDL), a Hyderabad-based facility under the Defence Research and Development Organisation (DRDO), has achieved a significant breakthrough in the development of hypersonic weapon technology. On 25 April 2025, DRDL successfully conducted the ground testing of an Active Cooled Scramjet Subscale Combustor for a duration exceeding 1,000 seconds. The testing took place at the newly established Scramjet Connect Test Facility in Hyderabad.

This achievement follows an earlier test conducted in January 2025, where the scramjet combustor was tested for 120 seconds. The successful long-duration testing brings the system closer to readiness for full-scale flight-worthy combustor evaluations.

Understanding the Hypersonic Cruise Missile Programme

Hypersonic Cruise Missiles represent a transformative class of weapon systems capable of travelling at speeds greater than five times the speed of sound, exceeding 6,100 kilometres per hour. These missiles rely on air-breathing propulsion systems, where supersonic combustion plays a pivotal role in sustaining long-duration flight conditions.

The recent successful ground test validates not only the scramjet combustor’s design but also the operational efficacy of the state-of-the-art testing facility. It stands as a testament to the collaborative efforts between DRDO, Indian industry partners, and academic institutions, further strengthening the foundation of India’s Hypersonic Cruise Missile Development Programme.

Government and Scientific Leadership Celebrate the Achievement

Raksha Mantri Shri Rajnath Singh extended his congratulations to DRDO, industry partners, and academia, describing the achievement as a reflection of the Government’s steadfast commitment to realising critical hypersonic weapon technologies for national security.

Dr Samir V Kamat, Secretary of the Department of Defence R&D and Chairman of DRDO, also applauded the efforts of the scientific team. He specifically congratulated Shri U Raja Babu, Director General (Missiles & Strategic Systems), Dr GA Srinivasa Murthy, Director of DRDL, and their teams for successfully demonstrating supersonic combustion for over 1,000 seconds, a milestone involving cutting-edge technologies.

Read More: Afcons Infrastructure Secures ₹1,084.54 Crore DRDO Contract. 

Conclusion

The successful test marks a significant step forward for India’s defence research capabilities. It demonstrates not only technological maturity in scramjet propulsion systems but also strengthens the nation’s pursuit of advanced hypersonic platforms. As DRDO continues to innovate in this domain, the results from the latest ground tests are expected to accelerate further developments in hypersonic flight and missile systems.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Lianchuang Electronics, a prominent Chinese supplier, is in advanced discussions with Amber Electronics and Optiemus Electronics to enter India’s electronics components industry. Known for serving major clients like Oppo, Vivo, and Samsung in the country, Lianchuang is keen to capitalise on the Indian government’s ₹22,919-crore Electronics Components Manufacturing Scheme, as per a Moneycontrol report. This marks the first formal interest from a Chinese company in joining the scheme, which is designed to enhance local production of critical electronics components.

Lianchuang’s Investment Plans and Strategic Collaborations

Lianchuang, which entered India in 2019 with an investment of $20 million in a manufacturing facility, is poised to increase its investment by an additional $50 million if its partnerships with Indian firms come to fruition. The company is exploring opportunities with Indian smartphone manufacturers like HMD and Lava to supply displays for their devices. With the Indian government’s production-linked incentive (PLI) scheme for electronics components offering promising incentives, Lianchuang is also targeting expansion into display and camera module manufacturing, further strengthening its position in the Indian market.

Indian EMS Companies Eyeing Global Partnerships

 

As per Moneycontrol, India’s push to boost its electronics manufacturing industry has prompted several Indian electronics manufacturing services (EMS) companies to race for joint ventures and alliances with international component suppliers, particularly Chinese players. Key Indian players such as Dixon, Micromax, Zetwerk, Kaynes, Optiemus, and Syrma SGS are actively pursuing collaborations. These companies are optimistic about securing quick approvals under the Press Note 3 framework, which is expected to accelerate their participation in the burgeoning sector.

Read More: India Mulls 10% Cap on Chinese Equity in Electronics JVs

Conclusion

Lianchuang’s efforts to enter India’s electronics components market, as per Moneycontrol, signify a significant development for the country’s manufacturing sector. The potential investment from the company, alongside other EMS firms’ strategic alliances, could help drive India’s ambition to become a global electronics manufacturing hub.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

India’s efforts to alleviate poverty over the past decade have yielded remarkable outcomes. According to World Bank estimates, extreme poverty—measured at $2.15 per day in purchasing power parity terms—declined from 16% in 2011-12 to just 2.3 per cent in 2022-23. 

This significant shift has lifted approximately 171 million people above the internationally recognised poverty threshold.

Both rural and urban areas have witnessed notable improvements. Rural extreme poverty fell from 18.4% to 2.8%, while urban extreme poverty dropped from 10.7% to 1.1%. 

The rural-urban gap, once a persistent concern, has narrowed considerably—from 7.7 to 1.7 percentage points—highlighting a more equitable pattern of progress.

Transformation at the $3.65 Poverty Line: A Wider Lens

While the $2.15 threshold measures extreme destitution, the $3.65 per day line—applicable for lower-middle-income countries—provides a broader perspective. Under this measure, poverty in India declined from 61.8% to 28.1% between 2011-12 and 2022-23, resulting in 378 million individuals moving out of poverty. 

This transformation reflects not just incremental gains, but a silent social revolution reshaping the country’s economic landscape.

Methodological Cautions: Interpreting the Numbers Carefully

Despite the impressive statistics, concerns surrounding data reliability persist. The World Bank acknowledges that the comparability of consumption data has been complicated by changes in survey design and sampling techniques in the 2022-23 Household Consumption Expenditure Survey.

Former Planning Commission secretary NC Saxena has emphasised the need for triangulating poverty estimates with independent data sources such as the Census and the National Family Health Survey. Without such cross-verification, there remains a risk of overstating the scale of the achievement. A cautious and methodologically sound approach is therefore essential when interpreting these outcomes.

Beyond Income: Progress on the Multidimensional Poverty Index

India’s advancements are not limited to income-based poverty measures. On the Multidimensional Poverty Index (MPI), which incorporates dimensions like education, health, living standards, and access to basic amenities, India has also made striking gains.

Between 2005-06 and 2019-21, India’s multidimensional poverty fell from 53.8% to 16.4%, and further declined to 15.5% by 2022-23. The United Nations reports that 415 million Indians have escaped multidimensional poverty over the last 15 years. 

Particularly noteworthy is the rapid progress made by traditionally underdeveloped states such as Bihar, Uttar Pradesh, and Madhya Pradesh, indicating that human development indicators are gradually improving across broader geographies.

Read More: 5.6 Lakh People Above 100 Years Identified in Food Security Scheme. 

Conclusion

India’s poverty reduction journey over the past decade is undoubtedly a story of hope and resilience. However, while celebrating these achievements, it is equally important to maintain vigilance. Questions of sustainability, growing inequality, and methodological soundness must continue to be examined to ensure that the gains of today translate into long-lasting human development tomorrow.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Reserve Bank of India (RBI) has been steadily augmenting its gold reserves since December 2017. In the financial year 2024-25, the central bank added 57.5 tonnes of gold, marking the second-largest annual purchase in the past 7 years. 

According to a report by The Economic Times, this move underscores the RBI’s continued focus on diversifying its foreign exchange reserves.

Rise in RBI’s Total Gold Holdings

As per the data cited, the RBI’s gold stock stood at 879.6 tonnes as of March 2025, up from 822.1 tonnes a year earlier. This substantial increase reflects the growing importance of gold in central bank reserves amid evolving global financial conditions. The accumulation aligns with the broader trend of central banks across the world strengthening their gold holdings.

Global Uncertainties Drive Surge in Gold Prices

The period under review witnessed a sharp escalation in gold prices, driven largely by heightened global uncertainties. In April 2025, gold prices in India crossed an unprecedented ₹1 lakh per 10 grams, representing a 30% surge compared to ₹77,000 a year ago. Factors such as tariff wars, geopolitical tensions, and the volatility of the US dollar contributed to this historic rally.

Gold’s Safe-Haven Status Reinforced

Gold’s performance during periods of financial instability has historically reaffirmed its status as a safe-haven asset. During the 2008 financial crisis, gold appreciated by 21% even as equity markets collapsed. 

In 2024, amidst global market turbulence, gold prices climbed 24% in dollar terms, reaching $3,230 per ounce. This trend highlights gold’s low correlation with equities and bonds, offering stability to diversified portfolios.

Read More: Gold Prices on the Rise in India and Globally. 

Conclusion

The year 2023-24 saw the RBI adding 27.47 tonnes of gold to its reserves, in line with global central banks increasing their gold purchases. This shift comes in response to the continued weakness and volatility of the US dollar, particularly after significant political developments such as the re-election of US President Trump in November 2024.

Such moves underline the strategic role that gold continues to play in the reserve management strategies of central banks worldwide.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Reserve Bank of India (RBI) has announced that the premature redemption for Sovereign Gold Bond (SGB) Scheme, Series I of 2020-21, will take place on April 28, 2025. In accordance with the Government of India Notification F. No. 4(4)-B(W&M)/2020, premature redemption is permitted after the completion of five years from the issue date, which for this series is April 28, 2020.

The RBI circular clarified that premature redemptions can only occur on interest payment dates after the fifth year, aligning with the terms mentioned at the time of issuance.

Premature Redemption Price Fixed at ₹9,600 per Unit

The redemption price for this tranche has been set at ₹9,600 per unit. As per the RBI, the price is determined based on the simple average of the closing gold price of 999 purity over the previous three business days before the redemption date. These closing prices are published by the India Bullion and Jewellers Association (IBJA).

For this upcoming redemption on April 28, 2025, the relevant dates considered for calculating the average price are April 23, April 24, and April 25, 2025.

Features of the Sovereign Gold Bond Scheme

Sovereign Gold Bonds are government securities denominated in grams of gold. They offer investors a combination of benefits: exposure to the market value of gold at maturity along with a fixed annual interest of 2.5%, payable semi-annually.

While the scheme initially gained popularity among investors seeking an alternative to physical gold, the government has since discontinued fresh issuances following an announcement in the Union Budget 2025.

Options Available to Investors

Investors who miss the premature redemption window need not worry. Bonds will continue to accrue the assured annual interest rate of 2.5% until they reach maturity after eight years from the issue date.

Alternatively, investors also retain the flexibility to sell their Sovereign Gold Bonds in the secondary market, subject to prevailing market conditions.

Tax Implications of Sovereign Gold Bonds

The interest earned from SGBs is taxable under the Income-tax Act, 1961. It is classified as ‘Income from Other Sources’ and is taxed according to the individual’s applicable income tax slab.

Regarding redemption, important distinctions arise:

• If the bonds are redeemed through the RBI’s designated premature redemption window after completing five years, the proceeds are fully exempt from Long Term Capital Gains (LTCG) tax.

• If the bonds are sold through the secondary market instead of via RBI redemption, capital gains tax applies, along with surcharges and the health and education cess.

At maturity after 8 years, the redemption proceeds are entirely tax-exempt. The gains realised on maturity are not treated as a transfer for the purposes of capital gains taxation.

Read More: Understanding Premature Redemption of SGBs: Tax Rules and Should You Redeem or Not?. 

Conclusion

The upcoming premature redemption facility for Sovereign Gold Bond Scheme, Series I of 2020-21, offers eligible investors an exit opportunity at a price aligned with recent gold market rates. With the RBI setting the redemption price at ₹9,600 per unit, investors holding these bonds since April 2020 can plan accordingly based on the scheduled date of April 28, 2025.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Despite increasing global uncertainties and weakening international growth prospects, India is poised to record a robust 6.5% economic expansion this year. According to the Reserve Bank of India (RBI), this growth will secure India’s position as the fastest-growing major economy, even though it marks a slight moderation compared to recent years.

Strong Domestic Demand Bolsters Economic Stability 

Reserve Bank of India Governor Sanjay Malhotra, speaking in Washington, emphasised that India’s growth outlook remains encouraging against a backdrop of global volatility. 

 

He noted that while the 6.5% expansion rate is somewhat lower than previous periods and beneath India’s long-term aspirations, it remains consistent with historical trends and outpaces all other major economies. India’s resilience is supported by vigorous domestic demand and limited reliance on exports, offering a buffer against external shocks.

Monetary Policy Measures to Sustain Growth

In response to the global slowdown and protectionist pressures, notably triggered by US President Donald Trump’s tariff measures, the RBI undertook a policy shift in early April. 

The central bank cut interest rates and adopted an accommodative policy stance, indicating the possibility of further easing if required. Malhotra highlighted that, amid economic headwinds affecting advanced economies, India’s combination of growth, stability, and internal demand continues to attract investors seeking enduring value.

Read More: How RBI Helped Overcome Record India Cash Crunch.

Conclusion

India’s economic trajectory remains positive despite mounting global uncertainties. With firm domestic demand and strategic monetary interventions, the country is well-positioned to maintain its growth momentum and withstand external pressures.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Since its launch in September 2018, the Pradhan Mantri Jan Arogya Yojana (PM-JAY) has significantly transformed healthcare access for millions of Indians. Offering free health cover of ₹5 lakh annually, the scheme has provided hospitalisation benefits worth over ₹1.29 lakh crore and continues to be a critical pillar in reducing healthcare-driven poverty in India.

Widespread Impact and Expansion of PM-JAY

More than 90 million people have benefited from PM-JAY to date. Initially targeting around 107 million poor households—approximately 40% of India’s population—the scheme has notably lowered out-of-pocket healthcare expenses, which previously accounted for 62% of healthcare costs. States such as Tamil Nadu, Karnataka, Rajasthan, Kerala, Andhra Pradesh, and Gujarat have seen the highest number of beneficiaries.

 

In September 2024, the government expanded the scheme to offer free health cover to all senior citizens aged above 70, regardless of their income status, benefitting approximately 60 million individuals. Overall, more than 400 million Ayushman cards have been issued and around 31,907 public and private hospitals have been empanelled under PM-JAY.

Treatments and Specialities Covered Under PM-JAY

PM-JAY covers nearly 2,000 procedures, ensuring that beneficiaries receive cashless treatment for a range of services, including treatment costs, medicines, diagnostics, and hospital stays. Popular specialities among users include general medicine, infectious diseases, general surgery, medical oncology, ophthalmology, and orthopaedics.

 

Frequently availed procedures include haemodialysis, Covid-19 screening, multiple healthcare packages, and treatments for acute febrile illnesses. Recognising the scheme’s impact, the Parliamentary Standing Committee on Finance has highlighted the need to also cover the ‘missing middle’; approximately 400 million people currently lack health insurance, as identified in a Niti Aayog report from October 2021.

Read More: Ayushman Bharat PM-JAY: Delhi Joins Health Scheme with 36 Lakh Beneficiaries to Get ₹10 Lakh Health & Life Cover

Conclusion

The Pradhan Mantri Jan Arogya Yojana has substantially strengthened healthcare affordability and accessibility for India’s poorer sections and senior citizens. With continued expansion, it remains one of the country’s most significant healthcare initiatives.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.