Will make Bihar the capital of startups, says Shahnawaz Hussain
State industries minister Syed Shahnawaz Hussain said the government was committed to improving the ecosystem for startups in Bihar. He hoped that young entrepreneurs from Bihar will set up ventures in their home state instead of going to places like Delhi, Mumbai, Hyderabad and Bengaluru.
Addressing a function to mark the inauguration of the fourth annual Bihar Startup Conclave organised by Bihar Industries Association (BIA) with the support from industries department at GyanBhawan here, Shahnawaz said an ideation lab would be set up at UdyogBhawan in the city soon for which a memorandum of understanding has been signed with IIT-Patna.
According to officials, Bihar’s Rs 500-crore startup policy has been approved. An initial investment of Rs 2.7 crore was made at the event on Saturday. The industries minister handed over cheques for Rs 8 lakh and Rs 60 lakh to startups which emerged winners in the pitching session on Friday. DeveshJha and Suman Kumar took first place in the competition, followed by RashmiKumari and Sandeep Kumar (second), and Santosh Kumar and Ravindra Sharma (third) for New Innovative Start-Up Ideas.
Saudi schools to introduce yoga as a sport soon
Yoga will soon be introduced in schools in Saudi Arabia as part of the sports curriculum due to its significance for mental and physical health, the president of the Saudi Yoga Committee, Nouf Al-Marwaai, said. Notably, the commerce ministry approved the teaching and practice of yoga as a sport in the Kingdom in 2017.
With the cooperation of the ministry of education, the president said that yoga will be introduced in the curriculum because of its multitude of health benefits. Earlier this week, there was an introductory lecture highlighting the cooperation between the Saudi Yoga Committee and the Saudi School Sports Federation.
Permanent Normal Trade Relations (PNTR)
U.S. and others in the Group of Seven (G7) advanced economies would end normal trade relations, known as Permanent Normal Trade Relations (PNTR) with Russia as it pursues its invasion of Ukraine.
PNTR is USA’s version of Most Favored Nation (MFN).
In international trade, MFN status (or treatment) is awarded by one nation to another.
Most Favoured Nation status designation means two countries have agreed to trade with each other under the best possible terms: low tariffs, few barriers to trade and the highest possible imports allowed.
A nation with MFN status will not be discriminated against and will not be treated worse than any other nation with MFN status.
In USA’s case, granting of permanent normal trade relations status is automatic, except where specifically denied by law.
National Vaccination Day: 16 March
Every year, March 16 is observed as National Vaccination Day in India to increase the importance of vaccines in the human health system. The Covid-19 has made us understand the importance of vaccines and their role in benefitting our lives.
This day creates awareness regarding how effective vaccination is to prevent deadly diseases. Mostly, this day celebrates India’s victory over polio disease along with an improvement in the health and life expectancy of an individual.
The first dose of oral polio vaccine got started in the year 1995 in India.
IIFL securities launches primary markets investment platform OneUp
IIFL Securities on Friday launched ‘OneUp’, India’s first primary markets investment platform for investing in initial public offerings (IPOs), non-convertible debentures (NCDs) and sovereign gold bonds (SGBs), among others.
As per the brokerage, on the OneUp platform, the IPO applications are accepted 24×7 and up to three days before the IPO bidding opens. Another unique feature of the OneUp platform is that it allows investors to place bids for others as well, be it, friends or family members, which can increase chances of allotment.
Delhi Government launched Online portal ‘My EV’
An online portal “My EV” was launched by the Delhi government for the purchase and registration of electric autos in Delhi.
The portal is accessible to all users on the website of the Delhi government’s transport department.
The portal will enable holders of the Letter of Intent (LoI) to purchase electric autos and also claim the incentives provided by the Delhi government. Around 4,261 Letters of Intent (LoIs) for electric autos are being given by the Delhi government. Also, there is a 33% reservation provided for women.
The online portal will ensure that the interest subvention on the loans is provided to beneficiaries via a smooth automated channel.
The ‘My EV Portal’ is an online portal developed by the Delhi government in collaboration with Convergence Energy Services Limited (CESL).
An Employment initiative Capital Employer
The Capital Employer Initiative is a programme financed by the Ministry of Rural Development (MoRD) under the DeenDayalUpadhyayaGrameenKaushalyaYojana (DDU-GKY), which is a nationwide placement-linked skill training program.
Captive Employer’, is a first of its kind initiative that is aimed at addressing the vision of a demand-based and dynamic skilling ecosystem that caters to the requirements of the industry while assuring sustainable placements for the rural poor youth of the country. Under this initiative, post-training placement of candidates for at least six months with a minimum CTC of Rs 10,000 has been assured.
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