The Government e-Marketplace (GeM) has achieved remarkable success in the first quarter of FY 24-25, demonstrating its commitment to efficient and inclusive public procurement. Soaring Growth and Sectoral Breakdown GeM’s Gross Merchandise Value (GMV) reached a staggering ₹1,24,761 crore, reflecting a massive 136% increase compared to Q1 of FY 23-24. This growth signifies the platform’s …
Deputy governor of the Reserve Bank of India (RBI), M Rajeshwar Rao, has expressed concerns over the calibre of disclosures provided by certain non-banking financial corporations (NBFCs). His point was that the auditing community plays a critical role in making sure that companies give depositors and other stakeholders the right kind of qualitative information. At …
In a surprising reversal, the Reserve Bank of India (RBI) has partially restored the usability of ratings provided by Brickwork Ratings India Private Limited (Brickwork). This comes after the RBI had restricted banks and other entities from seeking fresh ratings from Brickwork in October 2022, following the cancellation of its registration as a Credit Rating …
The Production Linked Incentive (PLI) Scheme has proven to be a game-changer for India’s telecom and electronics manufacturing sectors. Launched to promote local production and reduce import dependence, the scheme has yielded impressive results in just a few years. Telecom Equipment Manufacturing Takes Off Production Surge: Within three years, the PLI scheme for telecom has …
India’s market regulator, the Securities and Exchange Board of India (SEBI), is taking a strong stance against unregistered investment advisors. This move aims to protect investors from potentially misleading advice and ensure the integrity of the capital markets. Why the Crackdown? Unregistered advisors often lack proper qualifications and can provide investors, especially those new to …
In a move to enhance passenger experience and address overcrowding, the Indian Railways has announced a significant investment in its non-AC coach fleet. Over the next two fiscal years (2024-25 and 2025-26), the national transporter plans to manufacture a staggering 10,000 new non-AC coaches. This ambitious initiative represents a 22% increase in the total number …
The arrival of the monsoon season has brought much-needed respite to India’s power grid, leading to a significant drop in electricity prices. This welcome relief follows a period of intense heat waves that pushed power demand to record highs, straining the system. Impact of Monsoon Rains Demand Reduction: As monsoon rains swept across the northern …
The Bandhan Employees’ Welfare Trust (BEWT) is embroiled in a contentious dispute. Members are launching a formal challenge against the trust’s management and its founder, Chandra Shekhar Ghosh. This escalation raises serious questions about potential financial irregularities and the organisation’s overall governance. Allegations and Legal Action BEWT members, represented by the Bongo Bhashi Mahasabha Foundation, …
The government has increased the Dearness Allowance (DA) for central employees and Dearness Relief (DR) for pensioners by 4% to 50%, starting January 1, 2024. With this increase, specific allowances are automatically raised by 25% over current rates. The Employees’ Provident Fund Organisation (EPFO) issued a notice highlighting past orders from the Department of Expenditure/DoPT, …
India’s real estate sector witnessed a significant surge in institutional investments during the second quarter (Q2) of FY24 (April-June 2024), reaching a three-year high of $2.5 billion, according to Colliers, a leading global real estate consulting firm. This robust performance is attributed to strong activity in the industrial and warehousing, and residential segments. Industrial and …
