- Tuesday, March 04, 2025
By: Shubham Ghosh
Here are news related to Indian economy and business for Friday, March 3, 2023:
The second meeting of the Global Partnership for Financial Inclusion (GPFI) under India’s G20 presidency will be held in Hyderabad on Monday (6) and Tuesday (7), a top official said on Friday, PTI reported. The second GPFI meeting is expected to take forward the discussions on the development of important deliverables for the year including those on Digital Financial Inclusion, SME Finance and development of Financial Inclusion Action Plan 2023 which will guide the financial inclusion work for 2024-26, said Chanchal Sarkar, economic advisor, department of economic affairs, ministry of finance.
The Reserve Bank of India, the country’s central bank, said on Friday it had imposed a penalty of Rs 30.7 million (£6.96 million) on Amazon Pay Private Ltd for non-compliance with directions on prepaid payment instruments and Know Your Customer (KYC) rules, Reuters reported. “This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers,” the bank said in a statement. An Amazon spokesperson said the company remains committed to operating as per regulatory guidelines and maintaining compliance, the Reuters report added.
Avantor, Inc., a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries conducted a safety awareness workshop for students of grades 1 to 8, at a government primary school in village Kharod in Panoli in the western Indian state of Gujarat, ANI/NewsVoir reported. The workshop covered road safety, home safety, industrial emergencies, fire hazards at home and school and much more. The training was conducted by team members from Avantor’s local cGMP manufacturing facility, in the Gujarati language with an engaging and interactive format. The workshop was attended by around 300 students and local community leaders.
The State Empowered Committee (SEC) on Friday discussed a project for providing a customised package of benefits under the Rajasthan Investment Promotion Scheme (RIPS) to pave the way to attract investments up to Rs 11,993.48 crore (£27.2 billion) in the state, PTI reported. The SEC’s 40th meeting chaired by chief secretary Usha Sharma was held on Friday, an official statement said. The projects come from a variety of industries including manufacturing, cement, chemicals, textile, automobiles and hospitality sectors. It is expected that these projects will create 8,815 new jobs in the state.
Goa chief minister Pramod Sawant has urged state departments and agencies to collaborate with the Indian Renewable Energy Development Agency Ltd (IREDA) as the state aims to generate 100 per cent of its electricity through renewable energy sources by 2050, PTI reported. The IREDA provides financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. “Addressing the ‘CII Goa Conference on Clean Renewable Energy’ in Panaji on Friday, the chief minister urged the departments and agencies of the state to sign an MoU with the IREDA for faster development of renewable energy in Goa,” a statement issued by Ministry of New and Renewable Energy said.
The Maharashtra government told the state Legislative Assembly on Friday that the licenses of six manufacturers of cough syrups in the state have been suspended for not following the rules, PTI reported. State food and drugs administration minister Sanjay Rathod made the statement while replying to a calling attention notice by Ashish Shelar of the Bharatiya Janata Party and others. Recently, a cough syrup made by a Noida-based firm was alleged to have caused the death of 18 children in Uzbekistan.
