The Department of Legal Affairs in the law ministry has invited comments on the draft Arbitration and Conciliation (Amendment) Bill, 2024, saying “the aim and purpose is to provide further boost to institutional arbitration, reduce court intervention in arbitrations and ensuring timely conclusion of arbitration proceedings”. The draft bill comes months after an expert committee […]
Union Finance Minister Nirmala Sitharaman highlighted the contributions of the Global South to the foundations of multilateral development banks at the 1944 Bretton Woods conference and emphasized on embedding diverse voices in decision-making to ensure a truly inclusive and global development framework. Finance Minister noted the pivotal contributions of the Global South to the foundations of Multilateral
The growing use of artificial intelligence and machine learning in financial services globally can lead to financial stability risks and warrants adequate risk mitigation practices by banks, the Governor of the Reserve Bank of India said on Monday (October 14, 2024). The RBI Governor said that the use of artificial intelligence and machine learning in financial
Samarth Scheme is the flagship skill development scheme of the Ministry of Textiles, which is a continuation of the integrated Skill Development Scheme under the 12th Five Year Plan. Also known as the Scheme for Capital Building in the Textile Sector (SCBTS) was introduced in 2017. It is to train an untrained labor force of
External Affairs Minister S. Jaishankar launched the e-Migrate V2.0 web portal and mobile app to enhance immigration services and expand their accessibility. Highlighting it as more than just a digital platform, Jaishankar described it as a beacon of hope and a commitment to protecting the rights and dignity of Indian workers abroad. The portal reflects
Recently, an online application window for PLIWG attracted huge response with 43% of new applicants from MSME sector. The 3rd Round of on-line application window for PLI Scheme for White Goods (Air Conditioners and LED lights) has attracted 38 responses with a net committed investment of Rs 4121 crore ended on 12th October 2024 after being
India’s textiles sector is set for significant expansion, with an 11% year-on-year growth in Ready-Made Garments (RMG) of all Textiles exports, as per India’s trade data of August 2024, signaling a bright future. The Textiles sector in the country is expected to grow to USD 350 billion by 2030, driven by India’s inherent strengths and
NABARD has published the findings from its second All India Rural Financial Inclusion Survey (NAFIS) for 2021-22, which offers primary data based on a survey of 1 lakh rural households, covering various economic and financial indicators in the post-COVID period. Recognizing the vital role of financial inclusion for economic development, NABARD conducted the inaugural survey
An evergreen loan is a loan that does not require the repayment of principal during the life of the loan, or during a specified period of time. In an evergreen loan, the borrower is required to make only interest payments during the life of the loan. Evergreen loans are usually in the form of a line of credit that
Report analyzes PPP regulatory landscapes across 140 economies and suggests a significant correlation between regulatory reforms relatingto PPPs and PPP infrastructure investments.PPP is an approach under which public services are delivered by private sector (both non‐profit and for‐profit organizations) whileresponsibility for providing resources rests with the government Key Highlights of the report Public Fiscal Management