Puducherry:&nbsp;Lieutenant Governor of Puducherry Tamilisai Soundararajan on Tuesday said the Department of GST (goods and services tax) of Central Excise in Puducherry has earned Rs 600 crore this year and this was the first time such revenue has been made in the Union Territory.Flagging off a cycle rally by staff and employees of the Central Excise here highlighting the celebration of the 75th Independence Day, the Lt Governor said over 8,000 enterprises contributed to the GST which, she said, was laudable.She said Puducherry was marching ahead in every field of developmental activity now and praised the department of GST for its unprecedented collection of revenue. Later, addressing reporters, Soundarararajan said no section of people should launch agitations at hospitals, including JIPMER.The Lt Governor said she had clarified there was no imposition of Hindi in JIPMER (Jawaharlal Institute of Postgraduate Medical Education &amp; Research) as was being alleged by some political parties."JIPMER has performed well during the COVID-19 situation. It serves patients of the Union Territory and neighbouring Tamil Nadu. There was unnecessary propaganda that Hindi was being imposed on JIPMER," she said.—PTI

Lieutenant Governor of Puducherry Tamilisai Soundararajan on Tuesday said the Department of GST (goods and services tax) of Central Excise in Puducherry has earned Rs 600 crore this year and this was the first time such revenue has been made in the Union Territory.

GST yielded Rs 600 crore in Pondy: Lt Governor

Lieutenant Governor of Puducherry Tamilisai Soundararajan on Tuesday said the Department of GST (goods and services tax) of Central Excise in Puducherry has earned Rs 600 crore this year and this was the first time such revenue has been made in the Union Territory.



Bhubaneswar: To create a model centre in technical education in the state, the Odisha government has decided to invest Rs 1,500 crore to revamp the Odisha University of Technology and Research (OUTR), Bhubaneswar, formerly known as College of Engineering and Technology (CET).Chief Minister Naveen Patnaik Tuesday approved the master plan prepared to revamp the engineering institute with an investment of Rs 1,500 crore in three years, of which, Rs 1,000 crore will be spent in the first year, an official release issued by the Chief Minister's Office said.It said that the state wants to redevelop OUTR in the line of IITs. The student intake capacity of the OUTR, will be enhanced to 10,000 from the existing 4,600.Patnaik reviewed the available infrastructure, management, teaching facilities at the institute and asked officials to develop it as one of the leading institutions in the field of technical education and research.He emphasized on the quality of education and research, the release said.For imparting quality education, new courses will be opened for new age technology and more Centres of Excellence will be set up to promote human resource development and inter-departmental research programmes.As per the plan, a Centre of Excellence will be set up in the university to offer new courses on new age technology and encourage inter-departmental research. Both the teaching and research works will be carried out in partnership with national and international universities, it said.The OUTR will also be developed in collaboration with various leading industries to encourage startup culture among entrepreneurs and develop entrepreneurial spirit among them.Special attention will be paid on how new patents and intellectual property rights can be obtained with research within the university.The institution came into existence as the College of Engineering and Technology (CET) as a constituent College of the Odisha University of Agriculture and Technology (OUAT) in the year 1981. It was later in 2001 shifted to a 100-acre permanent campus at Ghatikia in the city. It was accorded the status of a university in 2021 and renamed Odisha University of Technology and Research (OUTR).—PTI

To create a model centre in technical education in the state, the Odisha government has decided to invest Rs 1,500 crore to revamp the Odisha University of Technology and Research (OUTR), Bhubaneswar, formerly known as College of Engineering and Technology (CET).

Odisha to spend Rs 1,500 crore to revamp OUTR

New Delhi: Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday.The 30-share BSE Sensex tumbled 1,158.08 points or 2.14 per cent to end below the 53,000-level at 52,930.31 points on Thursday.Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points or 4.97 per cent during this period.A weak trend in equities have eroded Rs 18,74,689.98 crore from the market capitalisation of BSE-listed firms in five days.The market capitalisation of BSE-listed firms is now at Rs 2,40,90,199.39 crore."Markets continued to remain under pressure in sync with global markets slump, as worries of more interest rate hikes coupled with sluggish economic growth going ahead weighed on sentiment."The ongoing conflict and lockdowns in China due to virus spread is promoting investors to shun equities," Shrikant Chouhan, head of equity research (retail) at Kotak Securities Ltd, said.Among the Sensex firms, IndusInd Bank declined the most by 5.82 per cent on Thursday, followed by Tata Steel, Bajaj Finance, Bajaj Finserv, Axis Bank, HDFC Bank, HDFC, Titan and L&amp;T.Only Wipro ended higher from the 30-share BSE benchmark pack.In the broader market, the BSE midcap gauge tanked 2.24 per cent and smallcap declined 1.96 per cent.All BSE sectoral indices ended lower, with power falling 4.11 per cent, followed by utilities (3.90 per cent), metal (3.75 per cent), bank (3.14 per cent), finance (3.14 per cent) and telecom (2.81 per cent)."Inflation continues to be a major concern for the markets. Weakening economic growth outlook, prolonged Russia-Ukraine War, volatility in commodity prices, continued FIIs selling and rising bond yields have dented investors' sentiments."Volatility was also seen in the market on account of weekly expiry and domestic retail inflation data which is due to release late on Thursday," Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services Ltd, said.—PTI

Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday.

Investors' wealth tumbles Rs 18.74 lakh crore in 5 trading sessions

Mumbai: The Central Government has announced a cash award of Rs 1 crore for the Indian men's team that defeated 14-time champions Indonesia 3-0 in the final to win a historic maiden title in the Thomas Cup world team badminton championships.After Lakshya Sen, Satwiksairaj Rankireddy-Chirag Shetty and Kidambi Srikanth won their respective matches to give India a dominant, memorable victory in their maiden entry in the final, Sports Minister Anurag Thakur announced the cash award in a tweet. "As #TeamIndia defeats 14-time #ThomasCup Champions Indonesia to win its 1st ever #ThomasCup2022, @India_Sport is proud to announce a cash award of ₹1 crore for the team in relaxation of rules to acknowledge this unparalleled feat! Congratulations Team India!!," the Minister said in his tweet.India on Sunday became only the sixth country ever to win the Thomas Cup, joining Indonesia, China, Malaysia, Japan, and Denmark to win the Thomas Cup. India had defeated Malaysia and Denmark by an identical 3-2 margin in the quarter-finals and semi-finals respectively before getting the better of Indonesia in the final.—IANS

The Central Government has announced a cash award of Rs 1 crore for the Indian men's team that defeated 14-time champions Indonesia 3-0 in the final to win a historic maiden title in the Thomas Cup world team badminton championships.

Minister Anurag Thakur announces Rs 1 cr cash award for men’s badminton team

Mumbai: The CBI has filed an FIR against Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly cheating Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officials said on Friday. The banks had sanctioned credit facilities to develop a housing building at the Tech Zone IV in Uttar Pradesh's Greater Noida on a plot measuring 1.06 lakh square metre, the FIR alleged.The company failed to maintain financial discipline following which the account was declared a non-performing asset on March 31, 2017, the complaint from Bank of Maharashtra, now part of the FIR, has alleged, adding that "it has resulted in the loss of over Rs 230.97 crore". Following the FIR, the CBI on Thursday conducted searches at four locations in Delhi, Noida and Ghaziabad, they said. Some Amrapali Group flat buyers had approached the Supreme Court owing to the non-delivery of promised flats to them in Noida and Greater Noida area where the company had promised to develop and sell 42,000 units. The Supreme Court had ordered a forensic audit in the affairs of the company, the complaint has alleged. In the forensic audit, it surfaced that the group allegedly diverted Rs 5,619 crore through different companies -- Amrapali Leisure Valley Developers Pvt Ltd, Amrapali Homes Projects Pvt Ltd, Ultra Home Constructions Pvt Ltd and Amrapali Grand, it said.The bank asked the auditor to find out the amount of its money that has been diverted which showed that Rs 52.01 was transferred to Kapil Buildhome Pvt Ltd and Gaurisuta Infrastructure Pvt Ltd between 2013 and 2016 from the term loan sanctioned by Bank of Maharashtra, it said. "The modus operandi followed by the accused person(s) actively portrays criminal conspiracy hatched between the accused person(s) with mala fide intention to cheat, defraud, deceive and cause wrongful loss to the banks and the accused persons have committed cheating, criminal breach of trust," the bank has alleged in the complaint. Besides Sharma, the CBI has also named other directors Shiv Priya and Suvash Chandra Kumar, former director Pankaj Mehta, Atul Mittal and Ashish Jain -- both directors in Chintapurni Estate Pvt Limited (Corporate Guarantor) and Gagandeep Singh, authorised signatory in Chintapurni Estate, they said.The CBI has filed the FIR under sections 120-B (criminal conspiracy) and 420 (cheating) of the Indian Penal Code and provisions of Prevention of Corruption Act.—PTI

The CBI has filed an FIR against Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly cheating Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officials said on Friday.

CBI files Rs 230-crore bank fraud case against Amrapali

New Delhi: Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1.According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022. This included Rs 52.33 crore from exercising RSUs (Restricted Stock Units) granted to him earlier.Infosys co-founder and chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services rendered to the company.In the shareholder notice, the firm justified the fat hike citing industry-leading growth in recent years."Salil's proposed total target remuneration vis-à-vis the remuneration most recently paid to CEOs of the peers (based on publicly available information as analysed by the company's external advisors Egon Zehnder) would be around the median," it said. The peers used for the analysis are Accenture plc, Cognizant Technology Solutions Corporation, DXC Technology Company, Tata Consultancy Services Limited, Wipro Limited, Tech Mahindra, Capgemini, HCL Technologies Limited, IBM, and Atos SE.TCS CEO Rajesh Gopinathan's annual salary stands at Rs 25.76 crore, while Wipro's Paris-based CEO has a pay of Rs 64.34 crore.HCL Tech CEO has a package of Rs 32.21 crore while Tech Mahindra CEO earns Rs 22 crore.Infosys has raised the fixed cash compensation paid to Parekh from Rs 6.50 crore per annum to Rs 8 crore.The annual grant of RSUs covering the company's equity shares remains almost unchanged at Rs 3 crore.He will get Rs 34.75 crore as a performance equity grant, up from Rs 13 crore.Variable cash compensation has also been increased from Rs 9.75 crore to Rs 17 crore.The rest of the remuneration are in form of RSUs."The company's compensation philosophy is to ensure alignment of executive compensation with shareholder value."Accordingly, almost 97 per cent of the increase in Salil's proposed annual remuneration is linked to performance," Infosys said.Under the revised remuneration, Salil's fixed compensation (fixed pay and time-based RSUs) shall constitute less than 15 per cent of this total compensation at target (compared to 23 per cent under his current terms)."Additionally, 70 per cent of Salil's performance-based compensation is given in the form of RSU or PSU grants, and therefore is predicated on the performance of the company's share price," it said.He will be granted 2.21 lakh PSUs (Rs 34.75 crore) for the fiscal 2023 performance, which is a similar number to the 2.17 lakh (adjusted for bonus shares) PSUs (Rs 13 crore) that was granted in his first year of appointment.This, Infosys said, vividly reflects the substantial value accretion to the company's share price.The hike announcement comes days after Infosys reappointed Parekh as managing director and CEO for five more years. He was first appointed CEO on January 2, 2018.The new pay hike will further widen the gap between the CEO and an average Infosys employee.Currently, the ratio of median remuneration of CEO to employees is 229 (excluding stock-based compensation) and 872 (including stock-based compensation).Co-founder N R Narayana Murthy had some years back voiced concern over giving huge salaries to just the CEOs and had suggested a ratio of 20 to 25 between the lowest and highest salary.Infosys said that any comparison of CEO salary to the median remuneration should be seen in the context of the company's strong performance and stock price growth. Key factors considered included total shareholder return, rise in market cap and growth."Salil is the CEO of Infosys, a globally listed entity, and has demonstrated successful business and overall performance since his appointment," it said."The company competes with global peers, particularly in North America and Europe, with almost 87 per cent of the company's revenue coming from these geographies, and therefore, Salil's remuneration has to be determined keeping in view international benchmarks."Infosys said the key factors that were considered for the reappointment included the company's total shareholder return rising 314 per cent under his leadership."The company's market capitalisation increased during his tenure by Rs 5,77,000 crore (USD 69 billion). "In comparison, during the preceding four-year period, prior to the appointment of Salil, the company's TSR (Total Shareholder Return) was 30 per cent as compared to the peers' median TSR of 47 per cent."The revenue growth of the company under his leadership has accelerated and grown from Rs 70,522 crore (fiscal 2018) to Rs 1,21,641 crore (fiscal 2022) and the profits have also increased from Rs 16,029 crore to Rs 22,110 crore."These results were delivered under the Navigating your Next strategy, led by Salil, comprising scaling digital revenue, accelerating the core, localisation and reskilling, which has resulted in an increased market share in a highly competitive environment," it added.—PTI

Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country.

Infosys CEO Salil Parekh's salary jumps 88% to Rs 79.75 crore

New Delhi:&nbsp;On the back of the best-ever price, it earned on crude oil it produces, state-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India's second most profitable company behind Reliance Industries Ltd.In a statement, ONGC said net profit for the fiscal FY22 (April 2021 to March 2022) soared 258 percent to Rs 40,305.74 crore from Rs 11,246.44 crore in the previous financial year.This as it got an average of USD 76.62 for every barrel of crude oil produced and sold in the fiscal as against USD 42.78 per barrel net realization in the previous year.This is the best price that ONGC got as international oil prices surged from late 2021 and spiked to a near 14-year high of USD 139 per barrel after Russia invaded Ukraine. International rates had spiked to a record USD 147 per barrel in 2008 but ONGC's net realization at that time was much lower as it had to provide subsidies to fuel retailers so that they could sell petrol, diesel, cooking gas LPG, and kerosene at rates lower than cost.ONGC now gets international rates as the downstream fuel retailers too price petrol, diesel, and other petroleum products at global rates.The firm got USD 2.35 per million British thermal units for the gas it sold against USD 2.09 in the previous FY21 fiscal. The gas price jumped to USD 6.1 in April this year and this impact will be visible in the first-quarter earnings.Consolidated net profit, after including those earned by its subsidiaries like HPCL, MRPL, and ONGC Videsh Ltd, soared to Rs 49,294.06 crore in 2021-22 as compared to Rs 21,360.25 crore in 2020-21.Both standalone and consolidated net profit of ONGC is the second-highest profit in the country.Reliance had on May 6 reported a consolidated net profit of Rs 67,845 crore on a revenue of Rs 792,756 crore.ONGC displaced Tata Steel for the No.2 spot. Tata Steel on May 3 reported a standalone net profit of Rs 33,011.18 crore and a consolidated net profit of Rs 41,749.32 crore for FY22. At the No.4 spot is Tata Consultancy Services Ltd (TCS) with a consolidated net profit of Rs 38,449 crore, followed by State Bank of India (SBI) which reported a net profit of Rs 31,676 crore on May 13. Its private-sector rival HDFC Bank reported a standalone net profit of Rs 36,961.33 crore and a consolidated net profit of Rs 31,150.90 crore for the fiscal.ONGC once was India's most profitable company but a decline in output and paying fuel subsidies led to its earnings declining over the years.ONGC said its standalone revenue from operations soared nearly 62 percent to Rs 1.10 lakh crore and consolidated turnover came in at Rs 5.31 lakh crore.The profit surge was despite a 3.7 percent drop in crude oil production to 21.7 million tonnes in 2021-22 as some of the firm's western offshore fields were hit by a severe cyclone in May last year. Gas output fell 5 percent to 21.68 billion cubic meters.''The decrease in oil/gas production is mainly due to the impact of cyclone Tauktae in western offshore assets and western onshore assets and modification work at Hazira (Gujarat),'' the statement said.ONGC said its Reserve Replacement Ratio (2P) from domestic fields (excluding joint venture fields) was 1.01. This is the 16th consecutive year when ONGC achieved a Reserve Replacement Ratio (2P) of more than one.The company's overseas arm, ONGC Videsh Ltd reported a 16 percent drop in net profit to Rs 1,589 crore in 2021-22 as crude oil and natural gas output fell. Its crude oil production declined to 8.099 million tonnes in FY22 from 8.51 million tonnes in the previous year. Gas output fell to 4.231 billion cubic meters from 4.529 bcm in FY21.ONGC declared a final dividend of 65 percent (Rs 3.25 per share of fthe ace value of Rs 5 each), taking the total dividend paid in the fiscal to 210 percent (Rs 10.50 a share).—PTI

On the back of the best-ever price, it earned on crude oil it produces, state-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India's second most profitable company behind Reliance Industries Ltd.

ONGC reports highest net profit of Rs 40,306 crore

New Delhi: The Bharatiya Janata Party received contributions of over Rs 477.5 crore in financial year 2020-21, and the Congress over Rs 74.50 crore, just 15 per cent of the funds received by the ruling party.According to the contribution reports of the two parties put in public domain by the Election Commission on Tuesday, the BJP received Rs 4,77,54,50,077 from various entities, electoral trusts and individuals.The party had filed the contribution report for FY 2020-21 before the poll panel on March 14 this year. According to the contribution report of the Congress, it received Rs 74,50,49,731 from various entities and individuals.Parties have to file report of contributions to the EC received in excess of Rs 20,000 as per provisions of the election law.The BJP-led NDA ousted Congress-led UPA from power at the Centre in 2014.—PTI

The Bharatiya Janata Party received contributions of over Rs 477.5 crore in financial year 2020-21, and the Congress over Rs 74.50 crore, just 15 per cent of the funds received by the ruling party.

BJP gets contributions of over Rs 477 cr in FY 2020-21

New Delhi (The Hawk): The Government of India has released the entire amount of GST compensation payable to States up to 31st May, 2022 by releasing an amount of Rs.86,912 crores. This decision was taken to assist the States in managing their resources and ensuring that their programmes especially the expenditure on capital is carried out successfully during the financial year. This decision has been taken despite the fact that only about Rs.25,000 crore is available in the GST Compensation Fund. The balance is being released by the Centre from its own resources pending collection of Cess.Goods and Services Tax was introduced in the country w.e.f. 1st July, 2017 and States were assured for compensation for loss of any revenue arising on account of implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years. For providing compensation to States, Cess is being levied on certain goods and the amount of Cess collected is being credited to Compensation Fund. Compensation to States is being paid out of the Compensation Fund w.e.f. 1st July, 2017.Bi-monthly GST compensation to States for the period 2017-18, 2018-19 was released on time out of the Compensation Fund. As the States’ protected revenue has been growing at 14% compounded growth whereas the Cess collection did not increase in the same proportion, COVID-19 further increased the gap between protected revenue and the actual revenue receipt including reduction in cess collection.In order to meet the resource gap of the States due to short release of compensation, Centre has borrowed and released Rs.1.1 lakh crore in 2020-21 and Rs.1.59 lakh crore in 2021-22 as back-to-back loan to meet a part of the shortfall in cess collection. All the States have agreed to the above decision. In addition, Centre has also been releasing regular GST compensation from the Fund to meet the shortfall.

The Government of India has released the entire amount of GST compensation payable to States up to 31st May, 2022 by releasing an amount of Rs.86,912 crores.

Centre Clears Entire Gst Compensation Due Till Date

Meerut: His story is the stuff that Bollywood blockbusters are made up of. A Rs 100 crore scholarship scam that he unearthed when he was a young officer in the Provincial Civil Services (PCS) in March 2009, put him on the firing line of the mafia.Seven bullets were pumped into him — three in the face — that left him disfigured, blind in one eye, and with impaired hearing in an ear. Rinkoo Rahee was deputed as a social welfare officer in Muzaffarnagar in 2008 when he busted the massive racket. Eight men were booked for the attack on him that followed, out of which four were sentenced to 10 years in prison."During my ordeal, I was not fighting the system. The system was fighting me. I was in the hospital for four months but my medical leave is 'pending' for approval to date," said Rahee, now 40. However, Rinkoo Rahee was not one to reconcile with his fate. He decided to strengthen his own hands and crack the&nbsp;<a href="https://www.sentinelassam.com/topheadlines/shruti-sharma-tops-upsc-all-three-toppers-are-women-594365" rel="noopener noreferrer" target="_blank" style="color: rgb(255, 100, 0); background-color: transparent;">UPSC exam</a>.He finally has done it, securing 683rd rank. (UPSC has an age relaxation for some special categories of candidates which helped Rahee.)Rahee said that though he was attacked during the Mayawati regime, he was sent to a psychiatric ward during the Samajwadi Party regime for protesting corruption too much'. Rahee said, "My grandfather died when my father was 10 years old. My grandmother was thrown out of her in-laws' house.She had to do every menial job, including cleaning toilets of other people's homes, to survive. My father was good at studies but had to drop out to take care of the family. I grew up listening to these stories of exploitation and thought that had government officials been honest, we could have benefitted from several schemes. This is what drove me all along." Rahee is now the father of an eight-year-old. "It's not that temptation didn't knock on my doors. But I knew that if I ever indulged in nefarious activities, someone else and their child may suffer too," he said.He said he has insured himself in case there are any more attacks on him in future."Now I make my observations very transparent and post them on social media because my death will remove all proof of scams," he said.—IANS

 His story is the stuff that Bollywood blockbusters are made up of. A Rs 100 crore scholarship scam that he unearthed when he was a young officer in the Provincial Civil Services (PCS) in March 2009, put him on the firing line of the mafia.

Seven bullets only strengthened his resolve

Bhubaneswar: In a major drug haul, the Special Task Force of Odisha Police seized 2.58 kg of brown sugar worth Rs 2.5 crore and arrested three peddlers here, an officer said on Monday.Based on specific information, STF personnel raided a place near AIIMS, Bhubaneswar on Sunday and seized the brown sugar from the possession of three drug peddlers. All the three peddlers belonged to Khurda district, police said.A case under of NDPS Act 1985 has been registered in this connection.The special unit of the Crime Branch under Odisha Police has so far seized more than 54 kg brown sugar, heroin, 202 gm cocaine, more than 103 quintals of ganja, 750 gm opium and arrested more than 150 drug peddlers/dealers in raids since 2020, an official statement said.—PTI

In a major drug haul, the Special Task Force of Odisha Police seized 2.58 kg of brown sugar worth Rs 2.5 crore and arrested three peddlers here, an officer said on Monday.

Odisha STF seizes brown sugar worth Rs 2.5 crore, 3 held

In a major drug haul, the Special Task Force of Odisha Police seized 2.58 kg of brown sugar worth Rs 2.5 crore and arrested three peddlers here, an officer said on Monday.



New Delhi: Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event of auto industry body SIAM on sustainable mobility, the minister said the government is working in multiple ways to encourage sustainable mobility."India recently achieved 10 per cent ethanol blending target 5 months in advance, saving over Rs 41,000 crore worth of fuel imports for the nation," Choubey noted. The initiative has led to sizable benefits for farmers, he added."Our next target is to achieve 20 per cent ethanol blending and it is projected to be completed by 2025-26," Choubey noted. This is a great step towards reducing the country's fuel imports and carbon emissions, he added.India has achieved the target of supplying 10 per cent ethanol-blended petrol five months ahead of schedule in June and is aiming to double the blend by 2025-26 in order to cut oil import dependence and address environmental issues.The original target for doping 10 per cent ethanol, extracted from sugarcane and other agri commodities, in petrol was November 2023 but this has been achieved in June.While earlier fuel-grade ethanol was produced only from sugarcane, since 2018 alternate routes such as sugarcane juice, sugar and sugar syrup, heavy molasses, damaged foodgrains unfit for human consumption, surplus rice and maize, were opened up.As the availability of ethanol increases, the equivalent amount of crude (used for petrol production) import is reduced.Choubey said the PM Gati Shakti - National Master Plan is also playing an important role in environment conservation.He also noted that the adoption of electric vehicles is going up and would be very beneficial for the country in the long run.Earlier speaking at the event, SIAM Sustainable Mobility Group chairman and MD Cummins India Ashwath Ram said the Indian automotive industry is ramping up to meet the revised target of 2025 to have E20 compatible vehicles."Flex fuel vehicles are being developed in parallel and are in line with the estimated plan... it is a decade of decarbonisation and decarbonising fuel blends demand a commitment from both the government and as well as from the industry," he stated.Ministry of petroleum and natural gas joint secretary (refinery) Sunil Kumar said he is confident that 20 per cent ethanol blending in gasoline would be achieved by 2025-26."We aim to achieve these plans uniformly across the country in the targeted years. "With the efforts made by the government the existing installed ethanol distilleries have reached around 700 crore litres and likely to reach more than 1,200 crore litres for 20 per cent blending by 2025-26," he noted.Maruti Suzuki India CTO CV Raman said the target of 20 per cent ethanol blending by 2025 would lead to reduction in oil imports while incentivising farmers and reducing emissions.—PTI

Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday.

Use of 10% ethanol-blended petrol saved over Rs 41,000 crore

Lucknow: Trouble is brewing for two retired IAS officers in Uttar Pradesh.The Central Bureau of Investigation (CBI), which is investigating the Rs 1,500-crore Gomti riverfront scam, has sought the state government's opinion on a probe into the role of the retired IAS officers Alok Ranjan and Deepak Singhal. Alok Ranjan was state chief secretary when the scam took place and Singhal was posted as the principal secretary, irrigation. He later went on to become the chief secretary. CBI sources said the agency has approached the state government for its opinion on investigating the role of the two IAS officers, which has not been probed as yet. The CBI has sent a letter in this connection to the state's appointment and personnel department, but the state government officials refused to confirm or deny the same.The CBI had started investigation into the case in 2017 on the recommendations of the Yogi Adityanath government. In November 2017, the CBI took over the case and filed an FIR against eight engineers of the irrigation department of different ranks in connection with the Gomti River Channelisation Project and Gomti River Front Development Project. The central investigation agency on February 17 also filed a charge sheet against senior assistant Raj Kumar Yadav, two directors of a private firm associated with the project, Himanshu Gupta and Kavish Gupta, and senior advisor of the project Badri Shrestha.The project involved construction of a rubber dam to maintain its water level, a stadium, an amphitheatre for 2,000 people, cycle and jogging tracks, a play area for children and a musical fountain. The Enforcement Department (ED) had also filed a criminal case under the Prevention of Money Laundering Act (PMLA) in March 2018 in connection with corruption in the Gomti Riverfront Development Project. —IANS

Trouble is brewing for two retired IAS officers in Uttar Pradesh.

Two Ex-IAS Officers Face Heat In UP Riverfront Scam

Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath on Monday said the state will be holding a "UP Global Investor Summit" in January 2023, in which a target has been set to attract investments worth Rs 10 lakh crore.He said Uttar Pradesh has emerged as a "dream destination" for industrial investment in the country by imbibing the mantra of "Reform, Perform and Transform" of Prime Minister Narendra Modi."UP Global Investor Summit-2023 will be the one to give flight to the new aspirations of Uttar Pradesh," Adityanath said, addressing a review meeting for the preparation of the summit at his official residence here.Five years ago, the economy of the state was at fifth or sixth position in the country, but at present, it is fast moving towards becoming the second-largest economy of the country, the chief minister said.He said the dates for the summit would be decided soon.The event should be of at least three days, and one day should be earmarked for the MSME sector, Adityanath said.The summit should be widely publicised through roadshows in countries like the UK, the USA, Canada, the UAE, Sweden, Singapore, Netherlands, Israel, France, Germany, South Korea, Mauritius, Russia and Australia, the chief minister said.A team should be sent to create a conducive environment for the "UP Global Investor Summit-2023" in the industrial world of these countries, he added.&nbsp;—PTI&nbsp;

Uttar Pradesh Chief Minister Yogi Adityanath on Monday said the state will be holding a "UP Global Investor Summit" in January 2023, in which a target has been set to attract investments worth Rs 10 lakh crore.

UP Global Investor Summit To Be Held In January 2023: Yogi Adityanath

New Delhi: The government on Friday said the Railways has suffered a loss of Rs 259.44 crore due to damage or destruction of railway assets during agitations against the 'Agnipath' scheme. In a reply in Rajya Sabha, Union Railway Minister Ashwani Vaishnaw said that in 2022, the Indian Railways suffered loss of Rs 259.44 crore due to damage or destruction of railway assets."Separate data regarding the amount of refund granted to passengers due to disruption of rail services on account of public disorder consequent to agitation like those held after launching of Agnipath scheme is not maintained. However, during the period June 14 to 30, a total refund of approximately Rs 102.96 crore was granted on account of cancellation of trains," Vaishnaw said.The Railway Minister told the House that 'Police' and 'Public Order' are state subjects under the Seventh Schedule to the Constitution of India. "Therefore, state governments are responsible for prevention, detection, registration and investigation of crime and maintenance of law and order on Railways through their law enforcement agencies viz. Government Railway Police (GRP)/ District Police," he said. The Minister further told the Rajya Sabha that Railway Protection Force (RPF) supplements the efforts of GRP/District Police to provide better protection and security to railway property, passenger area and passengers and for matters connected therewith.Cases of damage, destruction of government property including railway property are registered and investigated by the concerned GRP/ State Police under IPC and Railways Act.—IANS

The government on Friday said the Railways has suffered a loss of Rs 259.44 crore due to damage or destruction of railway assets during agitations against the 'Agnipath' scheme. In a reply in Rajya Sabha, Union Railway Minister Ashwani Vaishnaw said that in 2022, the Indian Railways suffered loss of Rs 259.44 crore due to damage or destruction of railway assets.

'Railways Suffered Loss Of Rs 259.44 cr During Agnipath Protests'

New Delhi (The Hawk): Since August 2019, Government of India, in partnership with States, is implementing Jal Jeevan Mission (JJM) for making provision of potable tap water supply to every rural household, including those in arid and water scarce districts, by 2024. The estimated outlay of the mission is Rs. 3.60 lakh Crore, out of which Central share is Rs. 2.08 lakh Crore.At the time of announcement of Jal Jeevan Mission, 3.23 Crore households were reported to have tap water connections. So far, more than 6.61 Crore rural households have been provided with tap water connections in last 35 months. Thus, as of date, out of 19.13 Crore rural households in the country, 9.84 Crore (51.43%) households are reported to have tap water supply in their homes. Under the mission, 30% weightage is assigned for difficult terrains which inter alia include areas under Desert Development Programme (DDP) and Drought Prone Area Programme (DPAP) while allocating the fund, to prioritize the coverage in these areas. Further, provisions have been made in the operational guidelines for planning and implementation of bulk water transfer from long distances and regional water supply schemes for ensuring tap water supply in drought-prone &amp; water-scarce areas/ areas with inadequate rainfall or dependable ground water sources. In addition, provisions have also been made for source recharging, viz. dedicated bore well recharge structures, rain water recharge, rejuvenation of existing water bodies, etc., in convergence with other schemes such as MGNREGS, Integrated Watershed Management Programme (IWMP), 15th Finance Commission tied grants to RLBs/ PRIs, State schemes, CSR funds, etc.For villages in water-scarce areas, in order to save the precious fresh water, States are also being encouraged to plan new water supply scheme with dual piped water supply system, i.e. supply of fresh water in one and treated grey/ waste water in another pipe for non-potable/ gardening/ toilet flushing use. Moreover, the households in these areas are to be encouraged to use the faucet aerators that save a significant amount of water, in multiple taps they may be using inside their house. This information was given by the Minister of State, Shri Prahlad Singh Patel in a written reply in Rajya Sabha today.

Since August 2019, Government of India, in partnership with States, is implementing Jal Jeevan Mission (JJM) for making provision of potable tap water supply to every rural household, including those in arid and water scarce districts, by 2024. The estimated outlay of the mission is Rs. 3.60 lakh Crore, out of which Central share is Rs. 2.08 lakh Crore.

Supply Of Drinking Water In Arid Districts 

New Delhi: Delhi Police has prepared a questionnaire of 100 odd questions that actor Jacqueline Fernandez has been asked to answer in the alleged Rs 200 crore scam.
The actor is being questioned by the economic offences wing (EOW) of Delhi Police since 11.30 am today which is expected to go till the evening. Jacqueline is in Delhi after she was summoned by the Delhi Police for the third time on Wednesday. Previously, she has been summoned twice but she did not turn up on both dates – August 29 and September 12. Jacqueline arrived at the Economic Offences Wing office at Mandir Marg today around 11 am along with a team of her lawyers. She was then given a long questionnaire including at least 100 questions that the officers said mostly pertained to her relationship with Sukesh Chandrashekhar and the gifts she received from him that are said to have been bought using the proceeds of crime.
EOW had also summoned Pinky Irani to join the investigation. She is said to have helped Sukesh to contact Jacqueline Fernandez. She was known to both of them. Pinky and Jacqueline might be confronted during questioning to get more clarity in the case, sources said. Acccording to sources, Jacqueline has been communicated that her investigation might get stretched for a couple of days or back to back so plan your stay in Delhi accordingly. Earlier, the Enforcement Directorate (ED) has also recorded statements of Nora Fatehi on September 13 and October 14, 2021, where also she had acknowledged having received gifts from the alleged conman and his actor wife Leena.
ED had registered a case of money laundering in the alleged scam over the FIR registered by the Delhi Police. ED had earlier stated that Fernandez’s statements were recorded on August 30 and October 20, 2021, where she admitted to having received gifts from Sukesh Chandrashekhar.
ED also said that Fernandez had used proceeds of crime and valuable gifts bought using it for herself and her family members in India as well as abroad and that this amounts to an offence of money laundering under section 3 of the Prevention of Money Laundering Act 2002. Sukesh Chandrashekhar has been accused of running an extortion racket worth Rs 200 crore when he was lodged in Rohini jail, from Aditi Singh, the wife of jailed former Ranbaxy owner Shivinder Singh, posing as officials from the union law ministry and the PMO, on the pretext of getting her husband out on bail. Sukesh Chandrashekhar, a native of Bengaluru in Karnataka, is currently lodged in a Delhi jail and faces over 10 criminal cases registered against him.—ANI

Delhi Police has prepared a questionnaire of 100 odd questions that actor Jacqueline Fernandez has been asked to answer in the alleged Rs 200 crore scam.

Delhi Police Has 100 Questions For Jacqueline

Kolkata: S.K. Mohammad Ali, inspector-in-charge of the Suri Police station in Birbhum district who was questioned by the ED last month in connection to the multi-crore cattle smuggling scam in West Bengal, has been transferred to an insignificant post.

Although the district police authorities have described the transfer as a routine one, Alis new place of posting has raised doubts that it was prompted by the administration's willingness to be over controversies following his interrogation by the central agency sleuths.

He has been transferred as inspector of the district enforcement branch, a post which had been vacant for a while.

Besides the ED, Ali was also been questioned by the Central Bureau of Investigation (CBI), which is conducting a parallel probe in the scam.

When the ED had summoned Ali to Delhi for questioning, he was asked to be present with all related documents pertaining to his bank accounts and properties.

According to sources, the probe agency came across some properties worth hefty amounts in the names of some of Ali's relatives.

He was being questioned about the source of funds for purchasing the high-value properties. IANS

S.K. Mohammad Ali, inspector-in-charge of the Suri Police station was questioned by the ED in connection to the multi-crore cattle smuggling scam in West Bengal.

Cattle scam: Police officer questioned by ED transferred to insignificant post

<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">New Delhi: Microfinance in India has a long history. Since the turn of this century, it has been expanding rapidly as a viable financial services business because of the influx of Microfinance NBFCs, growth of the self-help groups (SHG) business by Public Sector Banks, and under the NRLM (National Rural Livelihood Mission).
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">It witnessed the introduction of the Small Finance Banks and major private sector banks playing an increasing role in this segment. The industry has had its ups and downs due to external shocks, but has proven to be resilient. It has evolved into one among the fastest growing and most profitable segments of the lending business, creating a positive impact on the lives of a large number of families served by the financial sector.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">As on March 2023, the microfinance gross loan portfolio was more than Rs 5 lakh crore serving over 13 crore borrowers, compared with a portfolio of Rs 51,773 crore and approximately 7 crore borrowers in March 2012. The borrower base multiplied by 2X; the portfolio by 10X since 2012. The fast-growing 'Individual Loan' portfolio is not included in these numbers because of the absence of a reliable industry source. Organised microfinance in the country officially dates back to 1974. This was when Ela R. Bhat set up the Self-Employed Women Association (SEWA) in Ahmedabad to provide banking services and individual loans to self-employed poor women of the unorganised sector. SEWA was operating as a cooperative bank. The concept of 'Self-Help Groups' (SHG) was established by Aloysius Prakash Fernandez at MYRADA, in collaboration with Canara Bank, in the 1980s.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">The loans were given to customer groups instead of individuals. These groups collected savings and distributed loans to their members. This model was widely adopted by Public Sector Banks and NGOs, including SEWA. In 1996, Vijay Mahajan established BASIX in Hyderabad, as an NBFC, to undertake microfinance as a viable business. This largely followed the Grameen Bank's 'Joint Liability System' model, where loans were given to individuals, with the groups held liable. A slew of NBFCs were established in the early 2000s, especially in Andhra Pradesh, which followed this model.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">Over-exuberance led to an explosive growth of microfinance in Andhra Pradesh, which resulted in the first major crisis, and led to a direct conflict between Andhra-based microfinance institutions and the state government, which was also pursuing a government-led micro-finance programme funded by the World Bank.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">The reasons behind this crisis were three-fold:
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">-- Over-lending based on inadequate data
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">-- Lack of regulations of the microfinance industry
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">-- Private equity firms pushing the microfinance institutions to follow the spectacular growth of the telecom industry in India.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">This followed a period of regulated growth of the microfinance sector. The first to take the leap was the largest microfinance lender, Bandhan. They began their journey as an NGO in 2001, became a NBFC in 2009, and converted into a universal bank in 2015.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">The next major transformation was soon to follow in 2015, when RBI announced the provisional licences for ten Small Finance Banks (SFBs), eight of them being leading microfinance NBFCs. The purpose was to provide basic financial services for the vast sections of the economy not served by existing banks.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">The second major crisis to follow was in November 2016 when demonetisation was announced. At this time, the SFBs were in the process of transforming into banks. Unlike the previous crisis, which was restricted to Andhra Pradesh, this one affected operations across the country, as microfinance customers operated in a predominantly cash-based economy. As the microfinance sector recovered and started to grow, the next major crisis to hit it was the devastating Covid pandemic in 2020-21. This tested the resilience of the industry, as it became a national concern over a prolonged period. The nature of the pandemic brought field work to a grinding halt. Today, the microfinance industry has a strong Pan-India presence and has expanded from rural India to cover semi-urban as well as urban India.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">From Microfinance to Microbanking
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">With a modest beginning to providing small-ticket loans to borrowers with limited means, to achieving a bigger objective of financial inclusion in the country, the industry has evolved in advancing into a full-fledged banking service.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">From SHG/JLG group loan asset products to individual loans for matured customers, the offerings of the industry expanded to secured loans such as micro-LAP for housing (Rs 3-10 lakh); micro business loans (up to Rs 3 lakh); agricultural and allied loans, two-wheeler loans, gold loans, savings and fixed deposits, insurance (life, health, and general), along with addressing payment needs (QR code and UPI-based bank payments).
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">Banks have expanded their financial products to meet the full range of financial needs of the aspiring customer base. This implies that customers now have multiple relationship points with their financial service provider (banks), leading to increased stickiness in the relationships. With these changes, microfinance has transformed to microbanking. It also moved from purely women-centric customer base to a gender-agnostic relationship with the household.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">The beauty of India's pyramid is that it is moving more towards a diamond structure. As per reports on domestic household income data, the low-income group (less than Rs 1.25 lakh) is rapidly moving up towards the Rs 1.25 lakh to Rs 5 lakh bracket.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">These aspiring middle-class families ('Aspirers') are growing their income and evolving in all aspects. In this process, they are creating demand for multiple financial products and services to bring about an impa-ctful financial inclusion.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">These aspirants are no longer a weak economic section that depends on a single source of income. The families have two or more income sources, which creates a big change. This reduces their vulnerability to external shocks on one income stream, such as poor monsoon or floods, or loss of job, or even the demise of a family member. In terms of loan repayments, the microfinance segment has been one of the better-performing asset classes.
<span style="color: rgb(53,53,53);background-color: rgb(255,255,255);font-size: 14px;font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, "Noto Sans", sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji;">Though the repayments were affected during major black swan events like the Andhra crisis, demonetisation, and the Covid pandemic, the borrowers were resilient enough to repay their dues and return to the borrowing cycle and grow their livelihoods. Post-Covid crisis, the microbanking business was the first to revive, and the customers who had overdue payments started repaying the loans.—IANS

Microfinance in India has a long history. Since the turn of this century, it has been expanding rapidly as a viable financial services

Microfinance Grows By Nearly 10 Times In 10 Years To Cross Rs 5L-Crore Mark

New Delhi: After having the identical theme tune for over a decade, the renowned quiz game show 'Kaun Banega Crorepati 15' (KBC 15) will have a new theme tune and a new 'lifeline' for the contestants.
Sources told IANS: "There is a new lifeline in the show this season. There has been a change in the tune of KBC, with the addition of new instruments in it like flute, sitar. And, also the audience will witness a change in the set which is in the form of 'X'. There are two tunnels, with new and different lights. The name for the timer, which is referred to as 'dugdugji', will also be changed".
A video of the show that was shared on social media starts with the show's iconic theme tune and shows the grand set of the 'KBC'. Big B enters in a black suit and is heard saying: "5G ki speed se upgrade ho kar ke, naye approach ke sath is naye daur me aap sabka bahot swagat hai. Aarambh karta hun Gyaandaar, Dhandaar aur Shaandaar Kaun Banega Crorepati.. #newbeginning".
The show is an official Hindi adaptation of the 'Who Wants to Be a Millionaire?' franchise.
Since the show's inception, Amitabh Bachchan has hosted it, with one exception of the third season, when actor Shah Rukh Khan hosted it.
Registration for this season started on April 29.
Rohan and Vinayak, a Musician duo, have given the classic 'KBC' theme tune a fresh lease on life by incorporating lyrical narration by Amitabh.
Big B's deep baritone complements his musical delivery through the promo, in which the expression "naye armaan, nayi muskaan, naye aasmaan liye" had set the stage for the new season of KBC. It also sets the tone for a fresh avatar of the show. The show will premiere from August 14 at 9 p.m.—Inputs from Agencies

After having the identical theme tune for over a decade, the renowned quiz game show 'Kaun Banega Crorepati 15' (KBC 15) will have a new theme tune and a new 'lifeline' for the contestants

The Hawk

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GST yielded Rs 600 crore in Pondy: Lt Governor

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GST yielded Rs 600 crore in Pondy: Lt Governor

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