Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Business Standard BFSI Insight Summit brings together thought leaders from India's financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Panel Discussion: Fed or Food?

Tamil Nadu has achieved a milestone by registering over 10,000 startups with the Department for Promotion of Industry and Internal Trade (DPIIT), under the Union Ministry of Commerce and Industry, the state government said on Sunday
StartupTN has played a crucial role in nurturing the ecosystem by implementing various schemes and initiatives like funding programmes, mentorship opportunities and incubation support, StartupTN Mission Director and CEO Shivaraja Ramanathan said.
The state's startup ecosystem has been 'thriving' with 9 regional hubs and a metro hub in Chennai, providing a robust infrastructure for budding entrepreneurs to grow, he said.
"Tamil Nadu has achieved a remarkable milestone of 10,000 DPIIT registered startups, a significant jump from 2,300 in March 2021. This exponential growth can be attributed to the revival of StartupTN under the leadership of Chief Minister M K Stalin focusing on supporting startups and fostering innovation," Ramanathan said in a social med

The state's startup ecosystem has been 'thriving' with 9 regional hubs and a metro hub in Chennai, providing a robust infrastructure for budding entrepreneurs to grow

V O Chidambaranar Port, one of the popular seaports of Tamil Nadu, has earmarked Rs 41,860 crore worth of investments, aimed at making it the Green Hydrogen-Ammonia hub of the country, a top official said.
The port has also taken measures to augment capacity after witnessing an increase in cargo handling this year.
V O Chidambaranar Port has handled a cargo volume of 29.70 million tonnes including 5.62 lakh TEUs of containers till December 19, 2024 this is an overall growth of 1.87 per cent and 6.74 per cent, respectively.
"With the ever-increasing trend in cargo handling, the Port has initiated several strategic capacity augmentation and cargo evacuation initiatives to increase cargo throughput, enhance handling efficiency and expand its market share in the region," a press release said on Sunday.
As part of a mission to position V O Chidambaranar Port as the Green Hydrogen-Ammonia Hub of India, the Port has allocated 501 acres of land to four firms for establishing Green Hydrogen

V O Chidambaranar Port has handled a cargo volume of 29.70 million tonnes including 5.62 lakh TEUs of containers till December 19, 2024 this is an overall growth of 1.87 per cent and 6.74 per cent

According to The Verge, this feature is part of a broader rollout of context-aware capabilities in Gemini, designed to enhance the way users interact with their digital files

Albania's prime minister said on Saturday the government will shut down the video service TikTok for one year, blaming it for inciting violence and bullying, especially among children.
Albanian authorities held 1,300 meetings with teachers and parents following the stabbing death of a teenager in mid-November by another teen after a quarrel that started on TikTok.
Prime Minister Edi Rama, speaking at a meeting with teachers and parents, said TikTok "would be fully closed for all.... There will be no TikTok in the Republic of Albania". Rama said the shutdown would begin sometime next year.
It was not immediately clear if TikTok has a contact in Albania.
TikTok, in an email response on Saturday to a request for comment, asked for "urgent clarity from the Albanian government" on the case of the stabbed teenager. The company said it had "found no evidence that the perpetrator or victim had TikTok accounts, and multiple reports have in fact confirmed videos leading up to this incident w

There has been increasing concern from Albanian parents after reports of children taking knives and other objects to school to use in quarrels or cases of bullying promoted by stories on TikTok

Union Home Minister Amit Shah on Sunday hit out at Left parties for turning Tripura into a "backward" state during their 35-year rule and said it could witness progress only after the BJP assumed power in 2018.
Addressing a public meeting here after visiting a village where displaced Bru tribals were rehabilitated, Shah said that Tripura remained behind on all parameters of development during the communist rule but is now moving forward on the path of progress.
"For 35 years, the communists ruled Tripura. The communists claimed that they worked for the welfare of the poor. The Congress also ruled Tripura for a considerable time. But the people of the state always remained poor. It was when the BJP came to power that Tripura could witness development," he said.
Shah said when he visited Tripura in 2017 as BJP president and stayed for five days, only 11 people took party membership.  "Gradually we started our work. We worked hard and could oust the communists from power" after toiling

Addressing a public meeting here after visiting a village where displaced Bru tribals were rehabilitated, Shah said that Tripura remained behind on all parameters of development during communist rule

A Delhi court has granted permission to Congress MP Karti Chidambaram, an accused in the INX Media case, to travel to Austria and the UK between January 4 and 12, noting that he had never abused the liberty granted to him in the past.
In an order passed on December 17, Special Judge Kaveri Baweja allowed Karti Chidambaram to travel to Vienna (Austria) and the UK to attend events related to his company and meet his daughter.
"It is a matter of record that the applicant had sought permission of the court to travel abroad on numerous earlier occasions and the same was always granted to him even by the Supreme Court, as well as by this court and he never abused the above concession or liberty granted by the court," the judge said.
The Enforcement Directorate (ED), represented by special public prosecutor NK Matta, opposed Karti Chidambaram's application, saying he might misuse the liberty.
The Central Bureau of Investigation (CBI) had registered a case on May 15, 2017, alleging ...

In an order passed on December 17, Special Judge Kaveri Baweja allowed Karti Chidambaram to travel to Vienna (Austria) and the UK to attend events related to his company and meet his daughter

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

Funds devolved to states under the 15th Finance Commission (2021-2024) is more than what was devolved under the 14th Finance Commission (2015-20), finance minister Nirmala Sitharaman said on Friday.
In a pre-budget meeting with states, Sitharaman remarked that because of healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the devolution has increased.
"The funds devolved to the states in the last 45 months (April 2021 to December 2024) under the 15th Finance Commission is more than what was devolved in 60 months under the 14th Finance Commission (2015-20)," an official statement quoting Sitharaman said.
The Union finance minister also referred to the Scheme for Special Assistance to States for Capital Investment (SASCI), which was first announced in the Union Budget 2020-21, and acknowledged that it has received a very good response from states.
States have been requesting the Central government to enhance the outlay under the scheme as it is leading

In addition to this, the Union finance minister stated that the Centre has created an additional dispensation under SASCI for the states affected by disaster of a severe nature as assessed by the Inte

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Panel Discussion: Fed or Food?

Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

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