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DPIIT notifies establishment of Credit Guarantee Scheme for Startups

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the establishment of the Credit Guarantee Scheme for Startups (CGSS) for providing credit guarantees to loans extended by Scheduled Commercial Banks, Non-Banking Financial Companies and Securities and Exchange Board of India (SEBI) registered Alternative Investment Funds (AIFs). CGSS is aimed at providing credit ...

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Isha Ambani announces India’s first multi-disciplinary cultural centre in Mumbai

TBB BUREAU MUMBAI, OCT 6, 2022 Billionaire Isha Ambani, who recently took charge of the retail business of Reliance Group, on Thursday announced India’s first-of-its-kind space in Mumbai that will be focused on arts, culture and fashion. According to an official statement issued by Reliance Industries Limited, the cultural centre was dedicated to Isha’s mother Nita Ambani, who is an ...

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Unprecedented shocks dampen growth in South Asia

TBB BUREAU NEW DELHI, OCT 6, 2022 Beset with Sri Lanka’s economic crisis, Pakistan’s catastrophic floods, a global slowdown, and impacts of the war in Ukraine, South Asia faces an unprecedented combination of shocks on top of the lingering scars of the COVID-19 pandemic. Growth in the region is dampening, says the World Bank, underscoring the need for countries to ...

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Centre releases Rs 7,183 cr as revenue deficit grant to 14 states

TBB BUREAU NEW DELHI, OCT 6, 2022 The Union Finance Ministry on Thursday released the seventh monthly instalment of post devolution revenue deficit (PDRD) grant of Rs 7,183.42 crore to 14 states. The grant has been released as per the recommendations of the 15th Finance Commission. The panel had recommended a total grant of Rs 86,201 crore to 14 states ...

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RBI cuts growth forecast to 7 pc for FY23

TBB BUREAU MUMBAI, SEPT 30, 2022            The Reserve Bank of India (RBI) on Friday cut the economic growth projection for the current financial year to 7 per cent from 7.2 per cent estimated earlier on account of extended geopolitical tensions and aggressive monetary policy tightening globally.            The headwinds from extended geopolitical tensions, tightening global financial conditions and possible ...

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India-UAE CEPA makes significant positive impact on India-UAE trade

TBB BUREAU NEW DELHI, SEPT 25, 2022 The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which came into effect on the 1st of May 2022, is already creating a significant positive impact on India-UAE trade. Indian exports to the UAE, excluding petroleum productsgrew from US$ 5.17 billion during June-August 2021 to US$ 5.92 billion during June-August 2022, which denotes an increase ...

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Better digital future can only be built on pervasive digital infrastructure: Union Minister Chauhan

TBB BUREAU NEW DELHI, SEPT 25, 2022 The better digital future can only be built on pervasive digital infrastructure, developing digital platforms for delivery of government services to every citizen and ensuring access to digital services to all, said Union Minister of State for Communications Devusinh Chauhan, while addressing the Ministerial Roundtable, which is part of Plenipotentiary Conference 2022 of ...

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India to lead the way towards a sustainable palm oil industry: RSPO

TBB BUREAU AGRA, SEPT 23, 2022 The recent announcement by the Government of India on increasing the domestic production of palm oil towards ensuring atmanirbharta (self-reliance) is a great opportunity for the country to demonstrate the economic and social value of sustainable palm oil production, said Joseph D’Cruz, CEO, Roundtable on Sustainable Palm Oil (RSPO) in his virtual keynote address ...

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‘Maharatna’ status for REC

TBB BUREAU NEW DELHI, SEPT 22, 2022 REC has been accorded with the status of a ‘Maharatna’ Central Public Sector Enterprise, thus getting greater operational and financial autonomy. An order to this effect was issued yesterday by the Department of Public Enterprises, under the Ministry of Finance. Incorporated in 1969, REC is an NBFC focusing on Power Sector Financing and ...

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Union Cabinet approves National Logistics Policy

TBB BUREAU NEW DELHI, SEPT 21, 2022 The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the National Logistics Policy. The Policy lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional and comprehensive policy framework for the logistics sector. The policy complements the PM GatiShakti National Master Plan. While PM GatiShakti National Master Plan is aimed at integrated infrastructure development, ...

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