In a major development for Andhra Pradesh, the Central Government approved Rs 12,911 crores as additional funding to the State Government. The decision was taken by the Union Finance Ministry, after a meeting held between the Jal Shakti Department officials. The major announcement came as a boon to the YS Jagan Mohan Reddy-led YSRCP Government, which was demanding funding for the construction of the Polavaram Project.
Courtesy: One India
According to Switzerland's central bank annual report on June 16, funds deposited in Swiss banks by Indian individuals and corporations reached a 14-year high of 3.83 billion Swiss francs (about Rs 30,500 crore) in 2021. This was owing to significant growth in assets via securities and consumer deposits. The sum of money in Indian… read-more
Courtesy: Zee News
Ashneer Grover, co-founder and former CEO of BharatPe, intends to launch a new venture a month after his abrupt departure from his company. He is in discussions with private equity firms about raising $300 million for his enterprise. Grover may use his personal finances to support his startup, and may even trade a portion of his share in BharatPe, stated a report. Grover is presently in United States regarding the startup.
Courtesy: DNA India
An ed-tech platform for medical and engineering entrance exams, PhysicsWallah, is a new addition to the unicorn club in India. With $100 million (around ₹777 crore) investment from companies. PhysicsWallah in its Series A funding round entered the club and became India's 101st unicorn. It is also the first startup company with huge investment from marquee investors Westbridge and GSV Ventures, in the edtech sector.
Courtesy: Live Mint
Bitcoin has dropped about half of its value since its November high and has been hovering around $30,000 for the past month. Some investors believe bitcoin has reached a bottom, based on the amount of money flowing into listed cryptocurrency funds, which represent a small portion of the market. Funds experienced an average weekly inflow of $66.5 million, reversing a disastrous April loss of $49.6 million.
Authorities pressed for an agreement on how to assist vulnerable countries in coping with global warming and recompense for harm already done. They also discussed whether nations can overcome the impasse on climate change payments, on November 8. Britain aimed at setting the pace with new funds of 290 million pounds. "We are aiming for significant change that will… read-more
United Nations Conference on Climate Change (COP-26) will begin on October 31 in the UK's Glasgow. Environment Minister Bhupender Yadav stressed the summit should be about "action and implementation". India also guaranteed full support to UK COP leadership expecting a meaningful outcome of COP-26. During the ''… read-more
Courtesy: Tribune India
According to Health Minister M Subramanian, free vaccination camps will be hosted by the TN government via private hospitals availing the CSR funds provided by private companies. 117 private hospitals in Coimbatore, Tirupur, Erode, and Salem have held conversations with the health ministry. Slowly the whole scheme will be expanded to different parts of the state. Reportedly, Rs 61 lakh has been collected which can likely vaccinate 7,800… read-more
Courtesy: Deccan Chronicle
The Indian origin Amika George is the youngest to get selected in MBE (Member of the Order of the British Empire) and has achieved the third rank on the list. The 21-year-old youngster started the campaign against poverty periods #FreePeriods four years ago aiming to eradicate period, the hurdle for schoolgirls to pursue education. Focusing upon free period products, the UK government started giving funds to educational institutes last year… read-more
Courtesy: The Quint
Delhi Deputy CM Manish Sisodia on May 15 announced Rs 1,051 crores fund for three municipal corporations to pay salaries to employees and healthcare workers. Allocating Rs 367 crore, Rs 432 crore and Rs 251 crore for east, north and south corporations respectively, Sisodia stated the funds should be used to pay salaries and not “diverted for other uses". He also accused Municipal Corporations of Delhi of "mismanagement and corruption".
Courtesy: The Economic Times