UIDAI’s AI-Powered Aadhaar Face Authentication sees over 130.5 Crore transactions, revolutionizing biometric verification

Source: Government of India

UIDAI’s AI-Powered Aadhaar Face Authentication sees over 130.5 Crore transactions, revolutionizing biometric verification

Face Authentication solution sees 21.6% monthly growth in March, serving millions nationwide and becoming trusted solution for fintech, government services and more

Posted On: 01 APR 2025 6:25PM by PIB Delhi

The AI and machine learning (ML) based Aadhaar Face Authentication solutions developed in house by the Unique Identification Authority of India (UIDAI) has been witnessing a massive growth with over 78% of the total transactions coming alone in the FY 25 fiscal year, ended 31 March 2025.

Transforming service delivery across India

Since the face authentication solution was introduced in October 2022, UIDAI has recorded a cumulative transaction number of over 130.5 crore, of which close to 102 crores have been recorded in the 2024-25 financial year. It indicates the growing usage, adoption of this solution and how it is benefiting Aadhaar number holders seamlessly.

In the past 3 months (January-March), nearly 39.5 crore face authentication transactions have been recorded. In March alone, the face auth solutions have recorded more than 15.25 crore transactions, a 21.6% jump over the previous month.

This achievement underscores the trust and adoption of this new biometric authentication modality across diverse sectors including fintech, finance and telecommunications.

Dozens of government services offered by both the centre and states are using it for smooth delivery of benefits to targeted beneficiaries. Several flagship schemes including PM Awas (Urban), PM E-Drive, PM-JAY, PM Ujjwala, PM Kisan, PM Internship, are using Aadhaar face authentication.

Face authentication is also working as a robust alternative and helping senior citizens and all those who have issues with the quality of their fingerprints due to several reasons including manual work or health issues.

As of now, 102 entities both in government and private sector are using Aadhaar face authentication. This AI based modality works both on Android and iOS platforms. It is safe against any video replay attacks and static photo authentication attempts by anti-social elements and a contactless, anytime- anywhere modality.

This authentication modality enables users to verify their identity with just a face scan, ensuring convenience while upholding stringent security standards.

***

Dharmendra Tewari/ Navin Sreejith  

(Release ID: 2117407) Visitor Counter : 83

Hong Kong Customs seizes suspected methamphetamine worth about $300,000 at airport (with photos)

Source: Hong Kong Government special administrative region

Hong Kong Customs today (April 1) detected a drug trafficking case at Hong Kong International Airport and seized about 600 grams of suspected methamphetamine with an estimated market value of about $300,000.

Customs officers intercepted a 50-year-old female passenger  who planned to depart from Hong Kong to Koror, Palau. Upon a search, Customs officers found the batch of suspected methamphetamine on her body. The woman was subsequently arrested.

An investigation is ongoing.

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/en).

  

Banking Regulation Amendment Act 2020 has enhanced RBI’s Supervision Over Co-operative Banks

Source: Government of India

Banking Regulation Amendment Act 2020 has enhanced RBI’s Supervision Over Co-operative Banks

RBI’s 2024 Master Direction on Fraud Management aims to enhance accountability and strengthen governance in Co-operative banks among many other steps

Amendments in Multi-State Co-operative Societies (MSCS) Act, 2002 Strengthen  Governance and Transparency of cooperative societies; provision of Ombudsman

Posted On: 01 APR 2025 6:28PM by PIB Delhi

The Banking Regulation Act, 1949 has been amended to provide additional powers to RBI for more effective regulation of Co-operative banks vide Banking Regulation (Amendment) Act, 2020. The major amendments pertain to areas such as management, audit, capital, reconstruction/ amalgamation, etc. The provisions of the Act have been brought into force for Urban Co-operative Banks (UCBs) with effect from 26.06.2020. Post these amendments, interalia, the governance/management related provisions of the BR Act, (such as Section 10,10A,10B,35B,36AB, etc.), have become applicable to co-operative banks.

Further, the following measures are in place to prevent corruption and irregularities in cooperative banks:

  •  RBI has issued Master Direction on Fraud Management for the Regulated Entities viz.  Cooperative Banks in 2024 which contain comprehensive guidelines related to reporting of fraud, following of principles of natural justice, governance mechanism, implementation of early warning mechanism, staff accountability, fixation of responsibility of third parties and role of external and internal auditors, among others. 
  • The Prompt Corrective Action (PCA) Framework requires the identified UCBs to initiate and implement remedial measures in a timely manner, to restore their financial health and protect the interests of the depositors.
  • RBI has implemented a financial safety net for the account holders of banks (including cooperative banks) in the form of Deposit Insurance through DICGC.
  • RBI through “RBI Kehta Hai” has issued awareness material / useful information on aspects such as different types of frauds and their modus-operandi.
  • Amendment has been brought in the Multi-State Co-operative Societies (MSCS) Act, 2002 to strengthen governance, enhance transparency, increase accountability, reform electoral process and incorporate provisions of 97th Constitutional Amendment in the Multi State Cooperative Societies.
  • Following the amendment in the Multi–State Cooperative Societies (MSCS) Act, 2002, Cooperative Ombudsman has been appointed under Section 85A of the said Act. The Ombudsman office deals with complaints or appeals, from members of the MSCS regarding their deposits, equitable benefits of the Multi–State Co-operative Society’s functioning or any other issue affecting the individual rights of the concerned member.
  • The Cooperative Election Authority has been set up to strengthen governance and accountability, with a mandate to conduct free and fair election in all Multi-State Cooperative Societies.
  • NABARD has framed guidelines for banks to report frauds to law enforcement agencies, viz State Police, State CID/Economic Offense Wing of the State, etc. for further investigation and appropriate action.

The Ministry of Cooperation (MoC) is responsible for strengthening of cooperative movement in the country and deepening its reach upto the grassroots to realise the vision of “from cooperation to prosperity”. They also promote the cooperative-based economic development model, including the creation of appropriate policy, legal and institutional framework to help cooperatives realise their potential. MoC also organizes training of personnel of co-operative institutions, including education of members, office bearers and non-officials.

This information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

*****

NB/AD

(Release ID: 2117408) Visitor Counter : 68

Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception

Source: Government of India

Government has Strengthened IBC with Six Amendments and 122 Regulatory reforms since its inception

Over 8,000 CIRPs initiated, rescuing 3,485 debtors and realization of ₹3.58 lakh crore

Posted On: 01 APR 2025 6:29PM by PIB Delhi

The legislative intent of the Insolvency and Bankruptcy Code, 2016 (IBC) is to provide a consolidated framework for reorganization, insolvency resolution and liquidation of corporate persons, partnership firms and individuals for maximization of the value of assets. Further, IBC has had a significant impact on the health of the country’s banking sector and redefined the debtor creditor relationship. 

 According to the RBI Report on Trend and Progress of Banking in India (December 2024), the IBC emerged as the dominant recovery route, accounting for 48% of all recoveries made by banks, followed by the SARFAESI Act (32%), Debt Recovery Tribunals (17%), and Lok Adalats (3%) in the Financial Year 2023-24.   Additionally, a report by the Indian Institute of Management Ahmedabad (IIM-A) (August 2023; available at www.ibbi.gov.in), analysed the financial performance of firms that underwent resolution under the IBC and found significant improvements in the profitability, liquidity, and overall financial health of resolved firms in the post-resolution period. These findings underscore the positive impact of IBC on business continuity and value preservation.

 Till 31st December 2024, 8175 Corporate Insolvency Resolution Processes (CIRPs) have been initiated. Of these, 3485 Corporate Debtors (CDs) have been rescued which includes 1119 through resolution plans; 1236 through appeal or review or settlement and 1130 through withdrawal under section 12A. Further, 2707 CDs have been referred for liquidation.  In 1119 cases that have yielded resolution plans, the realisable value for the creditors have been ₹3.58 lakh crore. This amounts to 162.79% of liquidation value and 87.58% of fair value.

 To facilitate expeditious resolution process under Insolvency and Bankruptcy Code, 2016 (IBC) and to ensure proper implementation of the provisions of IBC, the Government has made six amendments to the IBC and 122 amendments in regulations since inception of IBC. Further, regular training and capacity-building programs for insolvency professionals, adjudicating authorities and other stakeholders are held to improve the overall efficiency and effectiveness of the IBC ecosystem.  Leveraging information technology such as digital platforms for automation and streamlining processes is another initiative to make the system more efficient, accurate, and faster, ultimately leading to better outcomes for all stakeholders.

The Minister of State in the Ministry of Corporate Affairs and Minister of State in the Ministry of Road Transport and Highways, Shri Harsh Malhotra stated this in a written reply in Rajya Sabha  today.

****

NB/AD

(Release ID: 2117411) Visitor Counter : 61

Union Minister Shri Ashwini Vaishnaw Stresses Need for Techno-Legal Framework to Address Emerging New-Age Crimes and to Ensure Prompt Investigation and Bringing Criminals to Justice for Effective Prosecution

Source: Government of India

Union Minister Shri Ashwini Vaishnaw Stresses Need for Techno-Legal Framework to Address Emerging New-Age Crimes and to Ensure Prompt Investigation and Bringing Criminals to Justice for Effective Prosecution

Technical knowhow of India’s academia, scientists and researchers should be harnessed to bring about technological solutions in investigations

Union Minister Urges CBI to Establish State-of-the-Art Cyber Forensic Labs in Collaboration with Academia

Amid Deepfake & AI challenges, Ashwini Vaishnaw says the Future of Effective Criminal Justice lies in combining legal frameworks with Technological Capability and Institutional innovation

Shri Ashwini Vaishnaw delivers 21st D.P. Kohli Memorial Lecture on CBI’s 62nd Foundation Day, presents police medals to 26 officers

Union Minister highlights CBI’s role in justice and outlines four key pillars of India’s growth strategy

Posted On: 01 APR 2025 5:46PM by PIB Delhi

Shri Ashwini Vaishnaw, Hon’ble Minister of Railways, Information & Broadcasting, and Electronics & IT, addressed the 21st D.P. Kohli Memorial Lecture on CBI’s 62nd Foundation Day held today at Bharat Mandapam, New Delhi. Speaking on the theme ‘VIKSIT BHARAT @ 2047 – A Roadmap for CBI’, the Minister outlined a strategic vision for the agency’s role in India’s progress over the next two decades. During the event, President’s Police Medals (PPM) for Distinguished Service and Police Medals (PM) for Meritorious Service to CBI officers were presented acknowledging their dedication and exceptional contributions.

In his address, Sh. Ashwini Vaishnaw elaborated the important role played by CBI over the years in bringing out truth through in depth & professional investigation and in bringing criminals to justice through effective prosecution. He further said “Our academia, our scientists, our researchers today possess remarkable strength and capabilities. This strength must be harnessed by investigating agencies, law officers, and government departments to co-develop technological solutions. Law alone will not be sufficient, we need techno-legal approach to address the challenges posed by new-age crimes and investigation,” the Minister emphasized.

Union Minister urged the Central Bureau of Investigation (CBI) to take the lead in building state-of-the-art cyber forensic laboratories by actively partnering with academic and research institutions. He further highlighted the need for institutional frameworks that facilitate such collaborations and suggested that Ministries and Departments such as MeitY, Department of Telecommunications (DoT), and Department of Science and Technology (DST) work closely with investigative agencies to co-create technologies required for modern-day law enforcement.

The Minister’s remarks come in the backdrop of rapid technological evolution, including challenges posed by artificial intelligence, deepfakes, and cyber-enabled crimes. He stressed that the future of effective criminal justice lies in combining legal frameworks with technological capability and institutional innovation.

Reflecting on India’s transformative journey over the past decade, the Minister noted the country’s rapid economic growth, strong governance, and technological leadership. He further highlighted four pillars of growth strategy in the last decade, first, public investment in physical, social and digital infrastructure, second a large number of inclusive growth programs, third a strong focus on manufacturing and innovation and fourth, simplification of legal and compliance structures.

First Pillar: Public Investment In Physical, Social and Digital infrastructure

The first pillar of India’s growth strategy focuses on significant investments in social, physical and digital infrastructure, including the construction of national highways, new airports, and the electrification of railways. The Minister said that under the leadership of Prime Minister Shri Narendra Modi, India has democratized technology with over 118 crore telecom subscribers, 70 crore smartphone users, and a robust AI ecosystem to support innovation. In social infrastructure, India has also expanded educational opportunities by opening 490 new universities and increasing the capacity of IITs, IIMs, and AIIMS.

Second Pillar: Inclusive Growth

The second pillar of India’s growth strategy focuses on inclusive growth, ensuring that economic progress translates into real improvements in people’s lives. Over the past decade, 54 crore new bank accounts have been opened, 4 crore houses built, and 12 crore tap water connections provided. In addition, 35 crore citizens are part of the Ayushman Bharat program, with more than 25 crore citizens coming out of poverty and improved access to essential services for millions.

Third Pillar: Strong Focus on Manufacturing and Innovation

The third pillar of India’s growth strategy emphasizes manufacturing and innovation, shifting the country from a services-based economy to a manufacturing hub. Initiatives like Make in India and Startup India have spurred growth, with electronics becoming the third-largest export and India becoming the second-largest mobile manufacturer globally. Key successes include developments in the semiconductor, defense, telecom sector, and the launch of high-speed Vande Bharat trains.

Fourth Pillar: Simplification of legal and compliance structures

The fourth pillar of India’s growth strategy focuses on simplification by eliminating outdated colonial-era laws. Over 1,500 archaic laws have been removed, and new frameworks like the Bharatiya Nyaya Sanhita (BNS) and Bharatiya Nagarik Suraksha Sanhita (BNSS) have replaced old legal structures such as the IPC and CrPC. This simplification process is paving the way for a more modern and efficient legal system.

CBI Director, Shri Praveen Sood welcomed the guests on the occasion. Attorney General of India, Central Vigilance Commissioner, Director IB, Director ED, Heads of NIA & Central Paramilitary Forces graced the occasion. Police Liaison Officers (PLOs) of other countries, also attended the event.

Following officers & officials of CBI were presented the medals by the Honb’le Minister for Distinguished and Meritorious Service: 

(i)         President’s Police Medals (PPM) for Distinguished Service were presented to :

1.         Shri K. Pradeep Kumar, SP, CBI, ACB, Jammu;

2.         Shri Naresh Kumar Sharma, ASP, CBI, Special Unit, New Delhi;

3.         Shri Mukesh Kumar, ASP, CBI, AC-II, New Delhi;

4.         Shri Ramji Lal Jat, Head Constable, CBI, ACB, Jaipur (Now Retired) and

5.         Shri Raj Kumar, Head Constable, CBI, Head Office, New Delhi

 

(ii)        Police Medals (PM) for Meritorious Service were presented to:

 

1.         Shri Raghavendra Vatsa, IPS (GJ:05), then DIG-HoB, CBI, ACB, New Delhi  (presently in the cadre as IGP, Gujarat Police);

2.         Ms. Sharada Pandurang Raut, IPS (MH:05) then DIG- HoB, CBI, EOB, Mumbai (presently in the cadre as Jt. Commissioner, S.I.D., Maharashtra  Mumbai);

3.         Shri Prem Kumar Gautam, IPS (UP:05), then DIG – HoB, CBI, SU, New Delhi (presently in the cadre as IGP, Prayagraj Range, Uttar Pradesh);

4.         Shri Manoj Chaladan, DLA, CBI, ACB, Mumbai;

5.         Shri Srinivas Pillari, Principal System Analyst, CBI, ACB, Kolkata (Now posted at Systems Division, Delhi Branch);

6.         Shri K. Madhusudhanan, DSP, CBI, ACB, Visakhapatnam;

7.         Shri Ajay Kumar, DSP (Now ASP) CBI, Policy Division, New Delhi;

8.         Shri Balwinder Singh, Inspector, CBI, SCB, Chandigarh;

9.         Shri Chitti Babu N., Inspector, CBI, ACB, Hyderabad;

10.       Shri Manoj Kumar, Inspector, CBI, HO, New Delhi (presently in his parent force & posted at CISF, CGBS Unit Mahipalpur, New Delhi);

11.       Shri Rahul Kumar, Inspector, CBI, EOB, Kolkata (presently in his force & posted at CISF Unit SMP, Kolkata);

12.       Shri Rajeev Sharma, Inspector, CBI,HO, New Delhi;

13.       Shri S. Nanda Kumar, Assistant Sub Inspector, CBI, SU, Chennai;

14.       Shri Suresh Prasad Shukla, Head Constable, CBI, ACB, Jabalpur  (now posted at CBI, BSFB Mumbai);

15.       Shri Rajesh Kumar, Head Constable, CBI, HO, New Delhi;

16.       Shri Om Prakash Daloutra, Head Constable, CBI, ACB, Jammu;

17.       Shri Randhir Singh, Head Constable, CBI, ACB, Jaipur;

18.       Shri Pawan Kumar, Constable, CBI, SC-I, NewDelhi;

19.       Shri Tejpal Singh, Constable, CBI, Policy Division, New Delhi;

20.       Shri Atul Sareen, Crime Assistant, CBI, Policy Division, New Delhi and

21.       Shri Subra Mohanty, Steno Gr.-II, CBI, ACB, Bhubaneswar

About the event

CBI pays its respect and homage to its founder Director late Shri Dharamnath Prasad Kohli and has been organizing the D.P. Kohli Memorial Lecture since the year 2000.

Shri Dharamnath Prasad Kohli was born in 1907 in Uttar Pradesh (UP), India. After joining Police Service in 1931, he served in UP, erstwhile Madhya Bharat and the Government of India. He had distinguished career in the Indian Police. He headed Delhi Special Police Establishment (DSPE) from July 1955 to March 1963. On creation of Central Bureau of Investigation, on 1st April, 1963, Shri D.P. Kohli became its founder Director and continued as its Director from 1963 till his retirement on May 31, 1968.

The lecture series has been honoured to feature highly distinguished speakers and luminaries from various fields who share their insights and experience on pertinent topics. The lecture series is intended to contribute to fostering dialogue, sharing knowledge, and advancing the understanding of challenges and solutions in the realm of law enforcement, criminal justice system and criminal investigation. The D.P. Kohli Memorial Lecture serves as an apt tribute to Shri D.P. Kohli’s vision and legacy in establishing the CBI as a premier investigating and prosecuting agency. It also underscores the agency’s commitment to upholding integrity, accountability, and excellence in its operations as enshrined in CBI’s motto Industry, Impartiality and Integrity.

The Central Bureau of Investigation was established by a Government of India resolution dated 1st April, 1963 to investigate not only cases of bribery and corruption, but also violation of central fiscal laws, serious crimes besides collecting supporting intelligence. Over the last more than six decades, the Central Bureau of Investigation has emerged as a premier investigating and prosecuting agency of the country covering entire gamut of crimes including emerging new age crimes like cyber enabled financial crimes, online CSAM (Child Sexual Abuse Material), etc. CBI as the National Central Bureau for INTERPOL in India also coordinates international cooperation in law enforcement.

The function was also webcast live Union Minister Ashwini Vaishnaw Delivers the 21st D.P. Kohli Memorial Lecture at Bharat Mandapam

****

 

Dharmendra Tewari/ Navin Sreejith

(Release ID: 2117361) Visitor Counter : 126

CCI approves the proposed acquisition of certain CCPS B of API Holdings by 360 ONE and Claypond Capital

Source: Government of India

Posted On: 01 APR 2025 6:31PM by PIB Delhi

The Competition Commission of India has approved the proposed acquisition of certain CCPS B of API Holdings by 360 ONE and Claypond Capital.

360 ONE Large Value Fund – Series 13 (360 ONE LVF), which is a scheme of 360 ONE Private Equity Fund (Fund), acting through its investment manager, 360 ONE Alternates Asset Management Limited (AAML) (360 ONE LVF, Fund, and AAML are referred to as “360 ONE”). 360 ONE LVF is registered with the SEBI as a Category II AIF and is established for the purpose of investing in various sectors in India and worldwide. The Fund is managed by its investment manager, i.e., AAML. AAML provides investment management services to schemes of the Fund other Category I and Category II AIFs of the 360 ONE Group. It also undertakes co-investment portfolio management services

Claypond Capital Partners Private Limited (Claypond Capital) is a private limited company incorporated in India. Claypond Capital ultimately belongs to the Pai Family Group. It is engaged in the provision of consulting and advisory services to customers in India.

API Holdings Limited (API Holdings/Target) is a company incorporated in India. It is directly or indirectly engaged in various activities in the pharmaceutical and healthcare sectors in India.

The proposed transaction consists of the following steps: (a) 360 ONE proposes to acquire certain class B compulsorily convertible preference shares (CCPS B) of API Holdings from its existing shareholder, MEMG Family Office LLP (MEMG LLP) (Proposed 360 Transaction); and (b) Claypond Capital proposes to acquire certain CCPS B of API Holdings from its existing shareholder, MEMG LLP (Proposed Claypond Transaction) (Proposed 360 Transaction and Proposed Claypond Transaction are collectively referred to as the “Proposed Combination”).

Detailed order of the Commission will follow.

*****

 NB/AD

(Release ID: 2117415) Visitor Counter : 47

MINISTRY OF STEEL SWACHHATA PAKHWADA

Source: Government of India

Posted On: 01 APR 2025 5:50PM by PIB Delhi

Ministry of Steel and all PSUs/institutions under its administrative control viz. SAIL, NMDC, RINL, KIOCL, MOIL, MECON, MSTC, NISST, JPC & BPNSI observed the ‘Swachhata Pakhwada’ from 16th-31th March, 2025. This was as per the Calendar of Swachhata Pakhwada for the year 2025 released by the Department of Drinking water and Sanitation. Officers/officials of the Ministry and employees in various plants/Units of PSUs spread across the country participated in various activities organized during the pakhwada.

The Pakhwada commenced by administering of ‘Swachhata Pledge’ ceremony at the Ministry of Steel. Cloth Banners and Standees were displayed at prominent places in the office premises of the Ministry for spreading awareness. Cleaning activities were undertaken in the premises of the Ministry thoroughly. ‘Shramdan’ by Officers/Officials of Ministry was done which included recording and weeding out of old files & records, removal of old posters/banners etc. Cleanliness inspection of rooms of Ministry was also conducted by a team of officers to observe cleanliness in Ministry of Steel. The PSUs organized the ‘Steel Safety Day’ on 28th March, 2025. Swachhata Pakhwada concluded in Ministry and all PSUs/institutions under the Ministry on 31th March, 2025 with determination of continuing the cleaning activities throughout the year.

During the Swachhata Pakhwada, PSUs/institutions under the Ministry have taken up various activities such as administration of swachhata pledge, cleaning up of townships, factories, nearby villages/slums, cleaning up of schools run of adopted by them under Swachh Vidyalaya, awareness program on curbing use of single use plastic etc. PSUs under administrative control of Ministry of Steel are also drawing up elaborated plans for the FY 2025-26 under Swachhata Action Plan which includes removal/reduction of slag, removal/reduction of iron ore fines and recycling of gaseous waste in power generation.

*****

TPJ/NJ

(Release ID: 2117365) Visitor Counter : 175

Competition Commission of India (CCI) approves acquisition of additional voting rights by certain shareholders of Billionbrains Garage Ventures Private Limited (Groww) and issuance of bonus compulsorily convertible preference shares to all existing equity shareholders of Groww

Source: Government of India

Posted On: 01 APR 2025 6:31PM by PIB Delhi

The Competition Commission of India has approved the acquisition of additional voting rights by certain shareholders of Billionbrains Garage Ventures Private Limited (Groww) and issuance of bonus compulsorily convertible preference shares to all existing equity shareholders of Groww.

The Proposed Combination comprises of: (i) collapse of the differential voting rights held by the Founders of Groww; and (ii) the bonus compulsorily convertible preference shares to be issued to all existing equity shareholders of Groww (namely Peak XV Partners Investments VI-1, Ribbit Capital V L.P., Ribbit Cayman GW Holdings V, Ltd., and GW-E Ribbit Opportunity V, LLC, YCCG21, L.P., and YC Holdings II, LLC, Internet Fund VI Pte. Ltd., ICONIQ Strategic Partners VI, L.P. and ICONIQ Strategic Partners VI-B, L.P. and Founders of Groww).

Peak XV Partners Investments VI-1 is an investment fund of Peak XV Partners, a venture capital and growth investing firm primarily focused on investing in startups in India and South East Asia region.

Ribbit Capital V L.P., Ribbit Cayman GW Holdings V, Ltd., and GW-E Ribbit Opportunity V, LLC (collectively, Ribbit) is a global investment organization that invests in early-stage companies.

YCCG21, L.P., and YC Holdings II, LLC (collectively, YC) is a startup accelerator and early-stage venture investor.

Internet Fund VI Pte. Ltd. (Tiger Global) is held by funds ultimately managed by Tiger Global Management, LLC and is primarily an investment holding company.

ICONIQ Strategic Partners VI, L.P. and ICONIQ Strategic Partners VI-B, L.P. (collectively referred to as ICONIQ) are private equity funds managed by ICONIQ Strategic Management, LLC.

Groww, through its affiliates, operates an online trading platform and mobile application called “Groww”, which inter alia allows investors to invest in stocks, mutual funds and other financial instruments. Groww, through its affiliates, also has its own asset management business (as a mutual fund house).

Detailed order of the Commission will follow.

*****

 NB/AD

(Release ID: 2117414) Visitor Counter : 54

CBIC to introduce electronic processing of import/ export through personal carriage by air passengers from 1st May 2025 at specified airports

Source: Government of India

CBIC to introduce electronic processing of import/ export through personal carriage by air passengers from 1st May 2025 at specified airports

Nine airports at Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad and Jaipur to allow personal carriage export of gems and jewellery

Seven airports at Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Jaipur to allow personal carriage import of gems and jewellery

Four airports at Bengaluru, Chennai, Delhi and Mumbai to allow personal carriage samples/prototypes of machinery

Posted On: 01 APR 2025 6:06PM by PIB Delhi

The Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, has introduced electronic processing of Bill of Entry/ Shipping Bill pertaining to gems and jewellery/samples/prototypes through personal carriage by air passengers from 01.05.2025 onwards at specified airports.

The export/import through personal carriage shall be subject to the provisions of Foreign Trade Policy (FTP) 2023 and Handbook of Procedures (HBP), 2023.

The facility of personal carriage will be available, for export of gems and jewellery in the nine airports (Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad and Jaipur) specified in para 4.87 of HBP and for import of gems and jewellery in the seven airports (Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Jaipur) specified in para 4.88 of HBP. In case of samples/prototypes of machinery, the facility is initially being made available in Bengaluru, Chennai, Delhi and Mumbai airports.

The harmonised procedure and electronic processing will promote ease of doing business for such mode of transaction especially for gems and jewellery and high-end manufacturing.

****

NB/KMN

(Release ID: 2117386) Visitor Counter : 303

Led by Robust 19.72% Growth in Loading of Domestic Container; Indian Railways Registers Incremental Loading of 1.68% Across All Commodities Compared to Last Year

Source: Government of India

Led by Robust 19.72% Growth in Loading of Domestic Container; Indian Railways Registers Incremental Loading of 1.68% Across All Commodities Compared to Last Year

Gunny sacks, Hot Rolled coils, Ceramic Tiles, Wall care putty and Rice are five major commodities in domestic container; Domestic coal loading grows by 7.4% fertilizer by 1.2 %

Eastern Railway Leads with 16.11% Growth in Freight Loading Among Zonal Railways in FY 2024-25

Posted On: 01 APR 2025 6:35PM by PIB Delhi

Indian Railways is crucial for transporting bulk commodities which are essential for industry and energy – coal for power plants, iron ore and finished steel for manufacturing and construction, cement, food grains for national distribution, fertilizers for agriculture, and petroleum products. For long distances and bulk goods, rail transport has been more economical than road transport. This helps reduce overall logistics costs for businesses, making Indian goods more competitive domestically and internationally. Moreover, Railways link mines, factories, agricultural regions, and ports with markets across the country, enabling seamless supply chains.

During FY 2024-25, Indian Railways achieved approx 1617.38 MT of originating freight loading, as compared to 1590.68 MT achieved during FY 2023-24, registering an incremental loading of 26.70 MT (1.68%).

Loading for domestic Coal registered growth of 7.4% whereas loading for Domestic Container recorded growth of 19.72%. Loading for fertilizer recorded growth of 1.25%. POL loading registered growth of 0.61%. Gunny sacks, Hot Rolled coils, Ceramic Tiles, Wall care putty and Rice are five major commodities in domestic container.

In terms of loading achieved by Zonal Railways, Eastern Railway achieved growth of 16.11%. South East Central Railway (SECR) achieved growth of 7.28%. Northeast Frontier Railway achieved growth of 4.21%. Northern Railway achieved growth of 3.89%.  East Central Railway achieved growth of 2.82%. South Central Railway achieved growth of 2.14%. East Coast Railway achieved growth of 1.19%. Southern Railway achieved growth of 0.80%. South Eastern Railway achieved growth of 0.36%.

Due to impressive loading of Coal by Indian Railways, stock at power houses in India reached 57 MT.

****

Dharmendra Tewari/Shatrunjay Kumar

(Release ID: 2117417) Visitor Counter : 50