Month: April 2025

Source: Government of India

MeitY Notifies Electronics Components Manufacturing Scheme; Strengthening India’s position as a global hub for electronics manufacturing.

Scheme Aims to Deepen India’s Electronics Ecosystem; Draft Guidelines Released for Stakeholder Feedback

Electronics production Sees Five-Fold and Export Six-fold Growth in the Last Decade, says Union Minister

India’s Smartphone Exports Cross ₹2 Lakh Crore Milestone; iPhone Alone Contributes ₹1.5 Lakh Crore for the FY 24-25

Posted On: 08 APR 2025 9:49PM by PIB Delhi

The Ministry of  Electronics and Information Technology(MeitY) today notified the Electronics Components Manufacturing Scheme, marking a significant step towards strengthening India’s position as a global hub for electronics manufacturing.

Addressing a press conference in New Delhi, Union Minister Shri Ashwini Vaishnaw stated that the notification of the Electronics Components Manufacturing Scheme, is in continuation of the recent Cabinet decision. He further emphasized, ‘Our government has always been open-minded, consultative, and inclusive. We take everyone’s views into account before finalizing any law or policy.’

Rapid Growth in Electronics Exports

The Minister also highlighted the sector’s impressive growth trajectory. In the last financial year, smartphone exports surpassed ₹2 lakh crore, with iPhone exports alone accounting for approximately ₹1.5 lakh crore. Over the past decade, electronics production has grown five-fold and exports have grown more than six-fold, with export CAGR exceeding 20% and production CAGR over 17%.

“Within a short time, the electronics manufacturing ecosystem—comprising component manufacturers and a diverse range of players—has developed substantially. Today, there are more than 400 production units, both big and small, manufacturing a variety of components,” he stated.

Reflecting global industry trends, the Union Minister said that India’s journey in electronics manufacturing has evolved through distinct phases: beginning with finished goods, progressing to sub-assemblies, and now entering the critical phase of deep component manufacturing. The sector is steadily advancing into this third phase, which marks a significant leap in value addition, self-reliance, and ecosystem depth.

Focus on Horizontal Expansion and Component Manufacturing

Outlining the structure of the scheme, the Minister said that it is designed as a horizontal initiative with benefits spanning multiple sectors such as consumer electronics, medical devices, automobiles, power electronics, and electrical grids, thereby creating a strong multiplier effect across the economy.

The scheme focuses particularly on passive electronic components, which will be supported under the new initiative. In contrast, active components fall under the purview of the India Semiconductor Mission (ISM). The indicative list of passive components includes resistors, capacitors, connectors, inductors, speakers, relays, switches, oscillators, sensors, films, lenses, and many more—underscoring the depth and breadth of the scheme.

Support for Capital Equipment and Tooling Industry

Recognizing the importance of precision tools and capital goods in manufacturing, Shri Vaishnaw announced that the scheme will also support the design and manufacturing of capital equipment used in electronics production. “Just like the Semiconductor Mission encouraged companies like Applied Materials and Lam Research to invest in India, this scheme will promote a similar model for the electronics component ecosystem,” he said. Chemical and gas majors such as Linde has already begun establishing facilities in India, and several global players are in discussions to join the ecosystem.

Tailored Incentives to Reflect Sector Needs

Highlighting the structural nuances of the components sector, the Minister noted that electronic component manufacturing typically requires higher investment and has a longer gestation period compared to finished goods. Accordingly, the scheme will offer three incentive structures: i)Turnover-linked incentive ii) Capex-linked incentive iii)Hybrid incentive model

The Minister emphasized that employment generation will be a mandatory requirement for all applicants, including both component manufacturers and capital equipment producers. This emphasis on job creation underlines the government’s continued commitment to inclusive growth and the development of a robust electronics manufacturing ecosystem in India.

The notification can be accessed here

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Dharmendra Tewari/Navin Sreejith/ Shatrunjay Kumar

 

 

(Release ID: 2120240) Visitor Counter : 13

Source: Government of India

Union Minister of Commerce & Industry Shri PiyushGoyal addresses Dubai-India Business Forum in Mumbai

India-UAE partnership a model of prosperity, trust and shared vision, says Shri Goyal

Posted On: 08 APR 2025 9:46PM by PIB Delhi

Union Minister of Commerce & Industry, Shri PiyushGoyal addressed the Dubai-India Business Forum organised by Dubai Chambers in Mumbai on Monday. The event was graced by His Highness Sheikh Hamdan bin Mohammad Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE.

Welcoming His Highness on his first official visit to India, Shri Goyal said the presence of Sheikh Hamdansymbolises the deep historical connect and generational continuity between Mumbai and Dubai. Recalling that this year marks the centenary of the visit of Sheikh Saeed, the grandfather of Sheikh Hamdan, to India, the Minister noted that both cities share a welcoming spirit rooted in centuries-old cultural and commercial ties.

Shri Goyal lauded Dubai’s contributions to social welfare, including the establishment of the first hospital for Indian workers in Dubai. “This is a heartwarming initiative, and we thank you on behalf of all Indians,” he added.

Highlighting the special relationship between India and the UAE, Shri Goyal said it is built on trust and personal rapport between the leadership of both nations. “There have been six high-level visits between India and the UAE in just two years—three by Prime Minister Narendra Modi and three by top leaders of the UAE. This reflects the intimacy and strategic importance of our partnership,” he stated.

Shri Goyal placed on record India’s appreciation for the UAE’s support in building the iconic Swaminarayan Hindu Temple in Abu Dhabi, calling it a symbol of mutual respect and shared values.

The Minister acknowledged the UAE’s pivotal role in India’s outreach to Africa, investments in logistics and infrastructure, and efforts to build digital and commercial connectivity. He particularly appreciated the role of DP World in transforming India’s logistics ecosystem.

Referring to the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE as a defining moment, Shri Goyal said, “Our goal to take non-oil trade to $100 billion is within reach. The speed and scale at which our partnership is growing is truly inspiring.”

The Minister also spoke of new avenues of collaboration in education. “We have already launched an IIT campus in Dubai and are now planning campuses of Indian Institute of Management and Indian Institute of Foreign Trade. These initiatives reflect our commitment to deeper engagement in education and skill development,” he said.

Shri Goyal said Dubai serves as a vital gateway for India’s trade and cultural exchange with the Middle East and expressed gratitude for the UAE’s support to the Indian diaspora, especially during the COVID-19 pandemic. “Over 2 million Indians call the UAE home, and you have cared for them like your own family,” he noted.

Quoting Prime Minister Narendra Modi, Shri Goyal said, “India is not just a workforce, we are a world force.” He pointed out that India is the fastest-growing major economy and is poised to become the fourth-largest economy by the end of 2025 and third-largest by 2027. “From a $4 trillion economy today, we aim to reach $30-35 trillion by 2047,” he said, inviting Dubai to partner in India’s journey towards becoming a developed nation by its centenary of independence.

Shri Goyal encouraged businesses from both countries to tap the immense potential in sectors such as nuclear energy, critical minerals, renewable energy, green hydrogen, fintech, AI, food security, and advanced manufacturing. He said, “This is just the tip of the iceberg. We have many mountains yet to climb, and I’m confident that the leadership and business communities of both nations will continue to inspire even greater achievements.”

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Abhishek Dayal, Abhijith Narayanan/ Ishita Biswas

(Release ID: 2120238) Visitor Counter : 46

Source: Hong Kong Government special administrative region

Attention duty announcers, radio and TV stations:

Please broadcast the following special announcement immediately, and repeat it at frequent intervals:

     The Transport Department (TD) today (April 8) said that the last train to Lo Wu Station on the East Rail Line (ERL) via interchanging at Tai Wai Station has departed from Sung Wong Toi Station and Kai Tak Station. Cross-boundary travellers who missed the last train to Lo Wu Station may take the ERL to Sheung Shui Station and then the KMB route No. 276B or N73 to Lok Ma Chau (San Tin) Public Transport Interchange, and transfer to the Lok Ma Chau-Huanggang cross-boundary shuttle bus (Yellow Bus) for their journey to the Mainland.

     Spectators are advised to take heed of the real-time information via the on-site broadcast and the “Easy Leave” platform (easyleave.police.gov.hk) as well as the latest traffic news through the TD’s website (www.td.gov.hk), the “HKeMobility” mobile application and radio and television broadcasts.

Source: Government of India

Sarbananda Sonowal Reviews Kochi Water Metro; Approves Tech Feasibility Study for 24 Cities, Including Guwahati, Dibrugarh, Tezpur

Execution Plan to Follow Based on Findings

Posted On: 08 APR 2025 8:41PM by PIB Delhi

Union Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal reviewed operations of the Kochi Water Metro during a ride across key terminals in the city. The visit marked a step toward assessing the viability of replicating the water-based transit model in 24 cities across India, including Guwahati, Dibrugarh and Tezpur in Assam. The Ministry has approved for conducting Technical Feasibility Study in these 24 cities.

Speaking on the occasion, the Union Minister said, “The success of the Kochi Water Metro is a shining testament to India’s ability to blend tradition with innovation. It demonstrates how clean, comfortable, and efficient water-based transport can transform the way people commute in urban spaces. Inspired by this achievement, our ministry has approved technical feasibility studies in 24 cities across the country—including Guwahati, Dibrugarh, and Tezpur in Assam—to explore the replication of this model.”

After the ride aboard Kochi Water Metro, Shri Sarbananda Sonowal lauded Prime Minister Shri Narendra Modi’s transformative leadership in reviving India’s long-neglected national waterways. “Before 2014, our rivers were overlooked and left in ruins. It is under the visionary leadership of Prime Minister Modi that we have reclaimed the lost glory of India’s riverways,” he said. “The Water Metro is a testament to this transformation—it provides an economical, comfortable, environmentally friendly, and modern travel experience that reflects the government’s commitment to green and inclusive growth.”

The Union Minister boarded the Water Metro at the High Court Junction terminal and travelled to Fort Kochi and Vypeen before returning. He was accompanied by senior government officials, including Joint Secretary Sri Nath, as well as representatives from Kochi Metro Rail Ltd., and other maritime agencies.

Elaborating on the Water Metro project, Shri Sarbananda Sonowal said, “This initiative will pave the way for a modern and sustainable public transport system that not only reduces traffic congestion and pollution but also reconnects our people with the country’s historic waterways. Rooted in our civilisational legacy of river navigation, the Water Metro concept is designed to meet the demands of today—with cutting-edge technology, top-notch safety protocols, and commuter-friendly amenities that make every journey efficient and enjoyable. The expansion of Water Metro services aims to provide last-mile connectivity, ease of travel, and an environmentally friendly alternative to traditional transport—setting the stage for a greener and more inclusive future of urban mobility in India.”

During the visit to Kochi Water Metro, the Union Minister was accompanied by Loknath Behera, Managing Director of Kochi Metro Rail Ltd.; B. Kasiviswanathan, Chairperson of Cochin Port Trust; Dr. Divya S. Iyer, Managing Director of Vizhinjam International Seaport; directors of Kochi Metro Rail Ltd.; the Chief Operating Officer of Kochi Water Metro Ltd.; and Dr K K Nath, Advisor, Inland Waterways Authority of India (IWAI) among other senior officials.

In a message penned in the visitor’s book, Shri Sonowal described the Kochi Water Metro as “unique,” noting that “it makes a real difference to water travel—more exciting, comfortable, and enjoyable.”

The Water Metro, the first of its kind in India, integrates water transport with the city’s urban mobility systems and is being considered a model for future projects across the country. The proposed expansion through techno-feasibility studies aims to boost connectivity, reduce road congestion, and promote sustainable transit in key urban centres.

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GDH/HR

(Release ID: 2120213) Visitor Counter : 48

Source: Government of India

Union Minister Sarbananda Sonowal Inaugurates ₹67.7 Cr Projects in IMU Campuses; Lays Foundation for Girls’ Hostel at Kochi

“India Aims for 5 Lakh Seafarers by 2030, laying the anchor for India’s Pursuance to be Top Global Maritime Nation”: Sarbananda Sonowal

“Nari Shakti and Yuva Shakti to Propel India Towards Viksit Bharat:” Sarbananda Sonowal

Posted On: 08 APR 2025 8:39PM by PIB Delhi

Union Minister of Ports, Shipping and Waterways (MoPSW) Shri Sarbananda Sonowal inaugurated 26 projects worth ₹67.77 crore across six Indian Maritime University (IMU) campuses nationwide, marking a significant push toward strengthening maritime education and empowering women in the sector. The ceremony also included the foundation stone laying for a Girls’ Hostel-cum=Library building at IMU’s Kochi campus.

Calling the event a “very special occasion,” the Union Minister said it reflected the Government’s collective commitment to transform maritime education. “The maritime sector is the backbone of global trade and economic growth. Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi ji, India is making rapid strides to emerge as a global maritime powerhouse. These 17 projects mark a significant step in our mission to strengthen India’s maritime education landscape. With modern infrastructure and advanced facilities, we are enabling students to excel and meet global maritime standards,” Shri Sarbananda Sonowal said.

Shri Sonowal inaugurated 17 key infrastructure projects across IMU campuses in Chennai, Kolkata, Navi Mumbai, Mumbai Port, and Visakhapatnam, including advanced simulators, solar power plants, improved sports facilities, and hostel upgrades—aimed at enriching academic and campus life. The ₹13.11 crore Girls’ Hostel at IMU Kochi will enhance residential facilities for female students, reinforcing Government’s commitment to gender inclusion in maritime education.

Shri Sarbananda Sonowal highlighted flagship initiatives like the Maritime India Vision 2030, the Sagarmala Programme, and the ‘Maritime Amritkaal Vision 2047’, describing them as central to modernising ports and developing sustainable infrastructure. He pointed out that between 2014-15 and 2023-24, India’s major ports doubled their cargo-handling capacity.

Highlighting India’s Maritime sector’s growth, the Union Minister said, “Nine Indian ports are now ranked among the top 100 globally”.  He also emphasised the rise in maritime employment, stating that the number of Indian seafarers increased by 170% in the past decade — from 1.17 lakh in 2014 to over 3.17 lakh in 2024. “Our target is to reach five lakh active seafarers by 2030, and we are firmly on that path,” Shri Sarbananda Sonowal said.

The Union Minister further hailed the progress made in women’s participation in maritime careers, noting a 700% increase in women seafarers—from 1,699 in 2014 to 13,756 in 2024. “This foundation stone for the Girls’ Hostel at IMU Kochi is a step forward in promoting gender equity in the maritime sector.  ‘Nari Shakti’ and ‘Yuva Shakti’ are the backbone of our nation as well as for our aspiration to become a global maritime major. Their active role as nation builders will propel our country to become ‘Viksit Bharat’,” Shri Sonowal said, adding that the IMU actively supports women students through scholarships offered by corporate houses and government agencies.

The Indian Maritime University (IMU) also received praise from the Minister for expanding its footprint and contributions to workforce development. “With a current enrolment of 7,156 students and over 21,000 alumni since its inception in 2008, IMU has seen an 80% rise in admissions over the past decade. With our rich talent pool, our endeavour to become a global maritime nation is going to be a reality soon. This is very inspiring towards realisation of Atmanirbhar Bharat — the vision of PM Narendra Modi ji,” the Union Minister said.

Among the newly inaugurated projects are flood mitigation structures, RFID-enabled libraries, solar power installations, and simulators at multiple campuses. These upgrades aim to provide students with a holistic, environmentally sustainable, and technologically advanced learning environment. “The future of global shipping lies in automation, Artificial Intelligence, and green technologies. IMU must incorporate these innovations into its curriculum to prepare our youth for a rapidly evolving industry,” suggested Shri Sonowal, during the event at IMU. He further urged IMU to integrate emerging domains such as shipbuilding, ship recycling, inland water transport, and advanced sailing technologies like hydrofoils into its training programmes. “We want a dedicated, professional human resource base to drive India’s maritime ecosystem forward. IMU must lead this transformation,” he added.

The Union Minister also commended the faculty and staff of IMU for their unwavering commitment. “Your efforts are invaluable in shaping the future of India’s maritime sector and ensuring we remain at the forefront of global maritime education,” the Union Minister said. In a message to students, Shri Sarbananda Sonowal said, “You are the future of India’s maritime vision. The knowledge and skills you gain here will not only shape your careers but also contribute to the growth and prosperity of the nation. With the guidance and experience of our educators, combined with the passion and dedication of our youth, India, under the dynamic leadership of Prime Minister Shri Narendra Modi ji, is on course to become a leading global maritime power by 2030,” said Sarbananda Sonowal.

Expressing hope that the newly inaugurated infrastructure would catalyse further excellence in training, research, and industry collaboration, the Union Minister concluded, saying, “this is just the beginning, may this milestone lead to many more achievements for India’s maritime sector”.

The ceremony was graced by the presence of several dignitaries, including Hibi Eden, Member of Parliament (Lok Sabha) from Ernakulam, and Dr. Malini V. Shankar, Vice Chancellor of the Indian Maritime University (IMU). The event concluded with an engaging interactive session that brought together experts, faculty, and policymakers to explore the future of maritime education, innovations in seafarer training, and the development of sustainable infrastructure across IMU campuses.

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GDH/HR

(Release ID: 2120209) Visitor Counter : 47

Source: Government of India

Posted On: 08 APR 2025 8:25PM by PIB Delhi

Defence Secretary Shri Rajesh Kumar Singh lauded the role of Integrated Financial Advisors (IFA) as crucial enablers of transparency, accountability and responsiveness in defence financial system, while addressing a two day Integrated Financial Advisors Conference 2025, organised by Defence Accounts Department (DAD), Ministry of Defence (MoD), from April 03-04, 2025, in Hampi, Karnataka. He highlighted Raksha Mantri Shri Rajnath Singh’s directive for DAD to become a Centre of Excellence in Defence Finance & Economics, calling for research-based policy inputs, cost-benefit analysis in procurement, and AI-driven financial analytics.  

The Defence Secretary emphasized strengthening outcome-oriented mechanisms, promoting emerging technologies, and foster collaboration across the departments to enhance operational efficiency. He noted that DAD achieved 100% capital budget utilization in 2024–25, which was a first in the last five years. He also highlighted the importance of Project SAMPURNA (System Automation for Procurement, Payment and Uniform Raksha Accounting), which integrates AI, Machine Learning, and Data Science into financial management ushering in a new era of automation and efficiency.

The conference featured six focused business sessions under which the role of financial advisors was highlighted to enhance capital acquisition outcomes, multifaceted challenges confronting the recently implemented IFA system in Military Engineer Services and the prospective pathways for their resolution, complexities associated with the Army Commander Special Financial Powers & merits and potential challenges of outsourcing in the defence sector.

Shri S.G. Dastidar, Financial Advisor (Defence Services), in his inaugural address highlighted the expansion of the IFA system amid growing defence capabilities and greater delegation of financial powers to Service Headquarters and lower levels. Emphasizing Aatmanirbharta, he called for standardized procedures, better data systems, and stronger coordination between IFAs and CDAs to enhance financial efficiency. Dr. Mayank Sharma, CGDA, talked about the changing role of financial advisors and highlighted Project SAMPURNA.

Senior officials from the MoD and DAD, along with Principal Integrated Financial Advisors and Integrated Financial Advisors from across the country, participated in the conference.

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VK/SR/SS

(Release ID: 2120203) Visitor Counter : 35

Source: Government of India

Two days Chintan Shivir of Ministry of Social Justice & Empowerment concludes; ⁠Saw participation of 34 States/UTs and 19 Ministers across India

Chintan Shivir promotes Constructive Dialogue, drives Collaborative Thinking, paving path for evidence-based Policy Refinement: Union Minister Dr. Virendra Kumar

Posted On: 08 APR 2025 8:25PM by PIB Delhi

Dehradun/ New Delhi, 8th April, 2025

The second day of Chintan Shivir 2025, organised by the Union Ministry of Social Justice and Empowerment at Dehradun, continued with a strong emphasis on constructive dialogue, policy coherence, and grassroots transformation. Building on the momentum of Day 1, discussions focused on finding solutions to practical issues, collaboration amongst Central Government, State Governments and other implementing partners, today. It aimed at ushering more effective governance and deepening impact, ensuring inclusivity, and strengthening delivery mechanisms across various schemes and initiatives under the Ministry.

34 States/UTs and 19 Ministers from across India participated in the event. The Valedictory Session featured addresses by Ministers from States and Union Territories, reinforcing the spirit of federal cooperation. Union Minister of Social Justice and Empowerment (SJ&E), Dr. Virendra Kumar, in his concluding remarks, highlighted the significance of Chintan Shivir as a platform that promotes constructive dialogue, drives collaborative thinking, and paves the path for evidence-based policy refinement. Other dignitaries included MoS (SJ&E), Shri B.L. Verma, along with senior officials of the Ministry.

The day began with a session on social empowerment, highlighting national efforts under the National Action Plan on Drug Demand Reduction (NAPDDR) and Nasha Mukt Bharat Abhiyaan (NMBA). States presented field-level challenges and innovations in tackling substance abuse, emphasising the role of community mobilisation and awareness campaigns. This was followed by discussions on comprehensive rehabilitation of persons engaged in the act of begging, with States contributing valuable inputs on practical issues on the ground and strategies for integration into mainstream society.

The Deendayal Divyangjan Rehabilitation Scheme (DDRS) was also discussed, with participating States presenting best practices and identifying key areas for expansion, especially in rural and remote regions. These sessions showcased the importance of working together, as Centre and States aligned efforts to ensure no individual is left behind.

A technical session enabled detailed deliberations on Single Nodal Agency (SNA) systems, social audits, and capacity-building initiatives led by NISD. These discussions reflected a collective approach towards collaboration and coordination, aimed at improving transparency, monitoring, and efficient implementation of schemes.

The review of the Ministry’s four national finance and development corporations — NSFDC, NBCFDC, NDFDC, and NSKFDC — provided insights into income generation efforts and livelihood promotion across SCs, OBCs, PwDs, and sanitation workers. Stakeholders engaged in ideation on streamlining access to finance and upscaling entrepreneurship among marginalised groups.

There were 11 presentations from the States on the first day and 10 on the second day, some of which were presented by the Ministers of the States in charge of respective Social Justice and Empowerment Departments. In addition to the presentations, the State governments representatives raised the issues affecting the implementation of the existing schemes and also gave suggestions for improvement in future.

Across the themes and sessions, the States and UTs shared their experiences, challenges, and achievements, contributing to a Chintan Shivir’s valuable pool of shared learning and best practices. This participatory environment enabled robust inputs on practical issues on the ground – from digital infrastructure gaps to the need for skilling and awareness drives — leading to actionable takeaways.

The event concluded on a note of shared vision and responsibility, with all stakeholders reaffirming their commitment to building a Viksit Bharat that is inclusive, just, and empowering for every citizen.

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VM/ADS

(Release ID: 2120204) Visitor Counter : 109

Source: Hong Kong Government special administrative region

Source: Government of India

IEPFA and IPPB Sign MoA to Launch Phase 2 of “Niveshak Didi” to Boost Rural Women’s Financial Literacy

“Niveshak Didi” trains women postal workers and community leaders to act as financial educators within their local regions

The initiative Empowers Women, Promotes Financial Literacy and reaches 55,000 beneficiaries in Rural India

Posted On: 08 APR 2025 8:07PM by PIB Delhi

New Delhi, April 8, 2025 — In a landmark step toward financial inclusion and rural empowerment, the Investor Education and Protection Fund Authority (IEPFA), under the aegis of the Ministry of Corporate Affairs, and India Post Payments Bank (IPPB), operating under the Department of Posts, have signed a Memorandum of Agreement (MoA) to jointly launch Phase 2 of the “Niveshak Didi” initiative. This strategic collaboration aims to scale financial literacy among women in rural, semi-urban, and underserved areas through grassroots mobilization and community-driven education.

 

“Niveshak Didi” is a unique initiative that trains women postal workers and community leaders to act as financial educators within their local regions. During Phase 1, more than 55,000 beneficiaries participated in IPPB Financial Literacy Camps across India, with approx. 60% female beneficiaries mostly in the youth & economically active age group. Every 2 out of 3 such beneficiaries belonged to deep rural locations ensuring maximum penetration at the grassroots levels.

Building on the success of Phase 1, this new phase will see the deployment of over 4,000 financial literacy camps across India. These camps will be led by almost 40,000 women postal workers trained as Niveshak Didis, who will conduct sessions on responsible investing, fraud awareness, savings habits, and digital banking tools.

 

Lt Col Aditya Sinha (Retd.), General Manager, IEPFA, highlighted the mission behind the initiative, “Niveshak Didi goes beyond being a campaign — it drives a grassroots movement that delivers financial knowledge directly to the last mile. We aim to empower rural women with the skills and confidence to make informed financial decisions. By partnering with IPPB, we ensure that awareness turns into action and that financial education becomes a catalyst for real community transformation. We believe that when women gain financial literacy, entire families and communities benefit.”

Mr. Gursharan Rai Bansal, Chief General Manager & CSMO, IPPB, added with conviction, “We see women as natural community influencers. When we provide them with the right knowledge and tools, they don’t just manage their own finances better — they lead change in their communities. Through this partnership with IEPFA, we are deepening our mission to bring inclusive, accessible banking to every doorstep. Niveshak Didi enables us to build trust, inspire & share financial discipline, and create a lasting impact at the grassroots level.”

About Investor Education And Protection Fund Authority

The Investor Education and Protection Fund Authority (IEPFA) is a statutory body functioning under the Ministry of Corporate Affairs, Government of India. It was established with a key objective to ensure that investors across the country are both informed and protected. In today’s dynamic financial landscape, where products and services are constantly evolving, the role of IEPFA becomes even more significant.

IEPFA plays a crucial role in promoting financial literacy, making it easier for individuals to understand the importance of managing personal finances. From budgeting and saving to making informed investment decisions, IEPFA empowers citizens with the knowledge needed to make sound financial choices.

One of its primary missions is to educate people about their rights and responsibilities as investors. This becomes particularly important for individuals living in rural and underserved areas, who may have limited access to reliable financial education or resources. By reaching out to these communities, IEPFA ensures that no one is left behind in the journey toward financial empowerment.

IEPFA’s vision is to build a financially aware and confident India, where every individual, regardless of background, has the tools and knowledge to secure their financial future.

About India Post Payments Bank

India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.

IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important, every transaction is significant and every deposit is valuable.

 

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NB/AD

(Release ID: 2120195) Visitor Counter : 60

Source: Government of India

Posted On: 08 APR 2025 8:05PM by PIB Delhi

The Competition Commission of India has approved the proposed acquisition of shares of Shriram Asset Management Company Limited by Sanlam Emerging Market (Mauritius) Limited and Shriram Credit Company Limited.

The proposed combination relates to subscription of equity shares of Shriram Asset Management Company Limited (SAMC) constituting 23% of the expanded voting share capital of SAMC by Sanlam Emerging Market (Mauritius) Limited (SEMM) by way of preferential allotment and further acquisition of up to 26% shareholding of SAMC from the public, as required under Section 3 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulation, 2011, by way of an open offer to be made by SEMM along with Shriram Credit Company Limited (SCCL).

SEMM, incorporated in Mauritius, belongs to Sanlam Group, South Africa. SEMM is the existing strategic partner of Shriram Group. It holds 40.70% stake in Shriram Capital Private Limited, which is the ultimate holding company of SAMC.

SCCL, also a part of Shriram Group, is the subsidiary of Shriram Investment Holdings Private Limited and is presently the promoter and sponsor of SAMC.

SAMC is also a part of Shriram Group and is engaged in the asset management business and registered with Securities and Exchange Board of India (SEBI). SAMC has also obtained license for portfolio management services (PMS) from SEBI, though SAMC has not started PMS business as on date. 

Detailed order of the Commission will follow.

 

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NB/AD

(Release ID: 2120192) Visitor Counter : 48