 The government has raised interest rates on Small Savings Schemes (SSS), including National Savings Certificate (NSC) and Public Provident Fund (PPF) by up to 0.4% for the October-December quarter, in line with rising deposit rates in the banks. Interest rates for small savings schemes are notified on a quarterly basis. |
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The interest rate for the different deposits and schemes are as follows:
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| Source- The Hindu Business Lines |
 The Employees’ State Insurance Corporation (ESIC) has approved a new scheme- Atal Bimit Vyakti Kalyan Yojna for Insured Persons covered under the Employees’ State Insurance Act. This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement. The decision was taken at the ESIC board meeting chaired by the Labour Minister Santosh Gangwar in New Delhi. The eligibility for availing Super Specialty treatment for dependents of Insured Person has now been relaxed to insurable employment of one year with 156 days of contributions. The ESIC also approved the proposal for increasing the funeral expenses from existing 10 thousand rupees to 15 thousand rupees being paid on the death of Insured Person. |
| Source- AIR World Service |
 State-owned India Post Payments Bank (IPPB) and Private Life Insurer Bajaj Allianz Life Insurance Co Ltd (BALIC) entered into a strategic partnership to provide life insurance solutions, especially at the doorstep of every household in the country. This partnership will leverage IPPB’s last mile reach for building awareness about life insurance. Both the companies came together, to formally sign the Corporate Agency Agreement. |
| Source- The Hindu Business Line |
 Tripura Chief Minister Biplab Kumar Deb inaugurated ISRO’s first Space Technology Incubation Centre(STIC) at the National Institute of Technology Agartala via remote from Bengaluru. The Centre was launched at the first edition of ‘Spacetronics’ organised by the India Electronics and Semiconductor Association (IESA). |
| Source-The Times of India |
 Bangladesh's Cabinet has approved a draft agreement with India to enable New Delhi to use the Chittagong and Mongla ports for the movement of goods to and from northeast India. According to the cabinet Secretary Shafiul Alam, the agreement will be effective for five years with a provision of automatic renewal for another five years. |
| Source-News on Air |
 The Prime Minister, Narendra Modi inaugurated and laid the Foundation Stone for several important development projects, at a public gathering in Banaras Hindu University, Varanasi. Among the projects inaugurated are the Integrated Power Development Scheme (IPDS) for Puraani Kashi; and an Atal Incubation Centre at BHU. Among the projects for which the Foundation Stone was laid is the Regional Ophthalmology Centre at BHU. The cumulative value of all projects which were inaugurated, or for which foundation stone was laid is over Rs. 550 crore. |
| Source- Press Information Bureau (PIB) |
 A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed between India and the World Bank. The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short-term training in Uttrakhand. The Project has a 5-year grace period and a maturity of 17 years. |
The Project has three components:
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 The Union Home Secretary Rajiv Gauba launched an online ‘e-Sahaj’ portal for grant of Security Clearance. The portal will facilitate an applicant to submit application online and also to view the status of his application from time to time. With the introduction of online portal, the process has become standardized, resulting in a process which will be faster, transparent and easy to monitor. Various functionaries can access the application and documents online and take timely decisions. |
| Source- Press Information Bureau (PIB) |
 The government has incorporated provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY). According to the new guidelines, the farmers will be paid 12% interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date. State Governments will have to pay 12% interest for the delay in the release of the State share of subsidy beyond three months of prescribed cut-off date submission of requisition by insurance companies. The Government has also decided to include perennial horticultural crops under the ambit of PMFBY on a pilot basis. |
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Highlights of the Pradhan Mantri Fasal Bima Yojana:
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| Source- AIR World Service |
 The Board of Directors of Vodafone Idea Limited, India's largest telecom operator, approved merger of the Vodafone Idea Limited with the Aditya Birla Telecom Limited (ABTL), the parent company of Idea Cellular. The merger was approved under the relevant provisions of the Companies Act, 2013. The merger is now subjected to approval of the National Company Law Tribunal. The Aditya Birla Telecom Ltd holds 11.15% stake in telecom infrastructure firm Indus Towers Ltd. With this amalgamation, Vodafone Idea will directly have shareholding in Indus Towers and can monetise the stake held by ABTL following simplification in the corporate structure. |
| Source- The Economic Times |
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