SBI Unveils ‘Har Ghar Lakhpati’ and ‘SBI Patrons’ Schemes
The State Bank of India (SBI) launched two new deposit schemes: ‘Har Ghar Lakhpati’ and ‘SBI Patrons’. ‘Har Ghar Lakhpati’ is a recurring deposit plan that helps customers save ₹1 lakh or more over periods ranging from 1 to 10 years. ‘SBI Patrons’ is a term deposit aimed at senior citizens aged 80 and above, offering higher interest rates. These schemes aim to enhance financial inclusion and meet the diverse needs of SBI’s customer base.
EPFO Launches Centralised Pension Payments System
The Employees’ Provident Fund Organisation (EPFO) rolled out its Centralised Pension Payments System (CPPS) nationwide. This modernised system benefits over 68 lakh pensioners, allowing them to withdraw pensions from any bank branch without needing physical verification visits. The CPPS ensures a seamless, efficient, and transparent pension disbursement process, enhancing convenience for pensioners across India. This initiative marks a significant step towards improving the quality of service for the country’s senior citizens.
LEADS 2024 Report Highlights Top Performers in Logistics
The Ministry of Commerce and Industry released the LEADS 2024 report, identifying 13 states and Union Territories as “achievers” in logistics performance. This report evaluates the efficiency of logistics services across four key pillars: infrastructure, services, operating environment, and sustainability. Coastal states such as Gujarat, Karnataka, Maharashtra, Odisha, and Tamil Nadu topped the rankings, while Haryana, Telangana, and Uttar Pradesh led among landlocked states. The report aims to provide actionable insights for improving logistics performance and boosting economic growth.
Nomura Revises India’s FY25 GDP Growth Forecast to 6.7%
Nomura lowered India’s fiscal year 2025 GDP growth forecast to 6.7%, down from the previous estimate of 6.9%. This adjustment comes after official data indicated a slowdown in the April-June quarter, attributed to reduced government spending during national elections. Despite the downward revision, Nomura expects economic growth to pick up as inflation eases and government spending increases, leading to a more stable fiscal environment for the remainder of the year.
Telangana Expands Rythu Bharosa Scheme for All Farmers
The Telangana government expanded its Rythu Bharosa scheme to provide financial assistance to all farmers cultivating crops. Under the new scheme, each farmer will receive ₹7,500 per acre per season, increasing support from the previous ₹5,000 per acre under Rythu Bandhu. The enhanced scheme focuses on active farmlands to ensure genuine farmers benefit. The government plans to start disbursing funds from January 14, 2025, aiming to bolster agricultural productivity and support for farmers across the state.
India Unveils Its First Glass Bridge in Kanniyakumari
Tamil Nadu Chief Minister MK Stalin, along with several dignitaries, inaugurated India’s first glass bridge in Kanniyakumari. This stunning structure connects the Vivekananda Rock Memorial and the 133-foot Thiruvalluvar statue. Spanning 77 meters in length and 10 meters in width, the bridge offers breathtaking views of the ocean below. It aims to boost tourism and provide visitors with a unique experience of walking above the sea, blending modern architecture with the region’s natural beauty.
Mike Johnson Re-Elected as US House Speaker
Mike Johnson, a Republican from Louisiana, was re-elected as the Speaker of the U.S. House of Representatives. The vote was tense and high-stakes, reflecting the political climate. Johnson, who has been in office since 2017, secured his position with a narrow victory margin of three votes. His re-election was backed by President-elect Donald Trump, who congratulated him on social media. Johnson represents Louisiana’s 4th Congressional District and has been a prominent figure in the House. His leadership will continue to shape the legislative agenda in the new Congress.