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- India recently renewed its financial assistance to the Maldives by extending a USD 50 million Treasury Bill for one more year via the State Bank of India (SBI).
- About Treasury Bills (T-Bills):
- T-Bills are short-term debt instruments issued by the Indian government through the Reserve Bank of India (RBI) to manage its short-term funding needs. These securities are also used by the RBI in its Open Market Operations (OMO) to regulate inflation and liquidity in the economy.
- Key Features:
- Zero-coupon bonds: T-Bills do not offer interest; instead, they are sold at a discount and redeemed at face value.
- Tenure: Available for 91, 182, and 364 days.
- Minimum investment: ₹25,000 and in multiples thereof.
- Auction process: Issued through regular auctions on RBI’s E-Kuber platform.
- Eligibility: Open to banks, financial institutions, mutual funds, corporations, trusts, state governments, and individual investors in both primary and secondary markets.
- Regulated Entities (REs) are now required to report information related to their digital lending apps (DLAs) through the Reserve Bank of India’s Centralised Information Management System (CIMS) portal. This move aims to strengthen oversight of digital lending activities and improve transparency.
- About Centralised Information Management System (CIMS):
- CIMS is an advanced data management platform introduced by the RBI to handle large volumes of information efficiently. It serves as a centralized warehouse, leveraging cutting-edge technology for data collection, aggregation, analysis, and public dissemination.
- Key Features and Benefits:
- CIMS integrates data across financial, corporate, fiscal, and external sectors, allowing for in-depth data mining, visual analytics, and advanced statistical analysis. The platform streamlines regulatory reporting for banks and other entities, reducing manual workload and enhancing the accuracy and timeliness of submitted data.
- By using cloud-based infrastructure, CIMS boosts the RBI’s ability to monitor the financial system effectively and respond swiftly to emerging risks.
- Sand mining in the Chambal River region poses a significant environmental threat, especially across Madhya Pradesh, Rajasthan, and Uttar Pradesh. Unregulated extraction disrupts the river’s ecosystem and threatens biodiversity.
- About the Chambal River:
- The Chambal River, historically known as Charmanvati, is a major tributary of the Yamuna and part of the larger Gangetic river system. Renowned for its clear, unpolluted waters, it is among the cleanest rivers in India.
- Course and Geography:
- Originating from the Vindhya Range near Mhow in Madhya Pradesh, it flows through Rajasthan, forming the border with Madhya Pradesh before joining the Yamuna in Uttar Pradesh. Spanning approximately 960 km, it traverses three states.
- Drainage and Tributaries:
- The river basin is flanked by the Vindhya and Aravalli ranges, draining the Malwa and parts of Rajasthan. Key tributaries include Banas, Mej, Kali Sindh, Parbati, and Shipra.
- Key Features:
- Major dams: Gandhi Sagar, Rana Pratap Sagar, and Jawahar Sagar.
- Protected area: The National Chambal Sanctuary, home to gharials, river dolphins, and crocodiles.
- Two individuals, including a chartered accountant, were recently arrested for allegedly defrauding the Ministry of Electronics and Information Technology (MeitY) of over ₹3 crore by misusing the government’s SAMRIDH scheme for startups.
- About SAMRIDH Scheme:
- The SAMRIDH (Startup Accelerator of MeitY for Product Innovation, Development, and Growth) scheme is a flagship initiative under MeitY’s National Policy on Software Products (2019). Its primary goal is to accelerate IT-based startups by supporting both new and existing accelerators.
- Key Objectives and Support:
- SAMRIDH enables startups to connect with customers, investors, and international markets. Selected accelerators can offer funding of up to ₹40 lakh per startup, with matching investments required from the accelerator itself.
- Implementation and Services:
- The scheme is run by the MeitY Startup Hub (MSH) under Digital India Corporation. In its first round, 22 accelerators across 12 states are supporting 175 startups. Focus sectors include health-tech, ed-tech, agri-tech, fintech, SaaS, and sustainability. Startups benefit from expert mentoring, legal aid, investor engagement, and collaborative networking.