NPCI recommends PPI charges for UPI payments
Starting from April 1, merchants carrying out transactions through the Unified Payments Interface (UPI) using Prepaid Payment Instruments (PPI) will be subjected to charges.
Starting from April 1, merchants carrying out transactions through the Unified Payments Interface (UPI) using Prepaid Payment Instruments (PPI) will be subjected to charges, according to a circular issued by the National Payments Corporation of India (NPCI).
NPCI’s Prepaid Payment Instruments (PPI):
The National Payments Corporation of India (NPCI) has issued a circular stating that merchants conducting transactions on the Unified Payments Interface (UPI) using Prepaid Payment Instruments (PPI) will be charged an interchange fee of 1.1% on the transaction amount for amounts over Rs 2,000.
For merchant categories under industry programs, the interchange fee is different. In addition, a wallet-loading service charge of approximately 15 basis points will be paid by the PPI issuer to the remitter bank, but no interchange fee will be applied to peer-to-peer (P2P) and peer-to-peer-merchant (P2PM) transactions between bank accounts and PPI wallets.
NDTV appoints former SEBI Chairman UK Sinha and Dipali Goenka as Independent Directors
NDTV announced to the stock exchanges that Upendra Kumar Sinha, the former chairman of Securities Exchange Board of India (SEBI), has been appointed as the non-executive chairperson and independent di
NDTV announced to the stock exchanges that Upendra Kumar Sinha, the former chairman of Securities Exchange Board of India (SEBI), has been appointed as the non-executive chairperson and independent director of the NDTV board of directors. Additionally, Dipali Goenka, the CEO of Welspun India, has also been appointed as an independent director on the NDTV board.
Mr. U.K. Sinha, who was the Chairman of SEBI from 2011 to 2017, previously served as the Joint Secretary in the Ministry of Finance, where he was responsible for overseeing the Banking and Capital Markets Divisions. He began his career as a member of the Indian Administrative Service in 1976 and holds both an M.Sc. and LLB degree. Ms. Dipali Goenka is the Chief Executive Officer and Managing Director of Welspun India Limited. She previously served as the chairperson of the ASSOCHAM Women’s council and currently serves on the board of Consumption platform at the World Economic Forum. She holds a degree in Psychology and is an alumna of Harvard University.
On December 30, 2022, the Adani Group acquired a 27.26% equity stake in NDTV from the founders of the news broadcaster, Prannoy Roy and Radhika Roy. In total, the Adani Group acquired a 29.18% stake in NDTV by purchasing a company supported by the founders. Afterward, the Adani Group made an open offer to purchase an extra 26% stake from the public shareholders.
India to host SCO-National Security Advisors meeting, Pakistan, China likely to join virtually
The National Security Advisers of the Shanghai Cooperation Organisation (SCO) will convene in New Delhi, with China and Pakistan expected to attend virtually.
The National Security Advisers of the Shanghai Cooperation Organisation (SCO) will convene in New Delhi, with China and Pakistan expected to attend virtually. Ajit Doval, the Indian National Security Adviser, will give the opening remarks, followed by discussions between SCO national security advisers and top officials.
SCO’s National Security Advisors Meeting:
As the current president of the eight-nation SCO, India is hosting a range of events, including a chief justices’ conference and a meeting of energy ministers, which Pakistan has attended through video conferencing, except for one event where they were not allowed due to a map controversy.
SCO defence ministers’ meeting:
According to a report, the SCO defence ministers’ meeting is scheduled to take place in New Delhi in April, while the foreign ministers will gather in Goa in May.
Invitations have been extended to Defence Minister Khawaja Asif and Foreign Minister Bilawal Bhutto-Zardari of Pakistan for these meetings, and India has officially invited Chinese President Xi Jinping to attend the SCO summit in July.
The Chinese charge d’affaires, Ma Jia, stated that the decision on the Chinese President’s attendance is still pending due to the summit’s date not being finalized yet.
About Shanghai Cooperation Organization(SCO)
Established in 2001, the Shanghai Cooperation Organization is an intergovernmental group consisting of China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, and Uzbekistan.
This crucial regional organization, which covers more than 60% of the Eurasian landmass, 40% of the world’s population, and 30% of global GDP, aims to promote economic, political, and military cooperation among its members.
Bangabandhu Sheikh Mujibur Rahman honoured with literary award
The Foundation of SAARC Writers and Literature (FOSWAL) presented a unique literary award to Bangabandhu Sheikh Mujibur Rahman of Bangladesh for his trilogy of books.
The Foundation of SAARC Writers and Literature (FOSWAL) presented a unique literary award to Bangabandhu Sheikh Mujibur Rahman of Bangladesh for his trilogy of books, which includes The Unfinished Memoirs, The Prison Diaries, and the New China 1952. FOSWAL acknowledged Bangabandhu Sheikh Mujibur Rahman’s exceptional literary skills and awarded him for his outstanding literary excellence in the trilogy, according to the citation provided by the organization.
During the ceremony, Ramendu Majumdar and Mofidul Haque, Bangladeshi writers and researchers, received the award from Ajit Kaur, a prominent Punjabi novelist and the founder president of FOSWAL. In a citation issued by the Foundation of SAARC Writers and Literature, Bangabandhu Sheikh Mujibur Rahman is compared to Mahatma Gandhi and Martin Luther King, and it is stated that no force on the planet can erase him from history.
About the Foundation of SAARC Writers and Literature (FOSWAL):
The Foundation of SAARC Writers and Literature (FOSWAL) is a non-profit, non-political organization established in 1987. Its objective is to promote mutual understanding and cooperation among the writers and literary communities of the South Asian Association for Regional Cooperation (SAARC) countries, which include Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka. FOSWAL aims to preserve and promote the literary heritage of the region, support literary creativity, and foster cultural exchange between the countries. The organization organizes various literary events, seminars, and workshops, and also publishes books and journals. FOSWAL is headquartered in New Delhi, India, and has its branches in other SAARC countries.
Indian government forms committee to explore pension reforms
The Indian government has formed a committee led by finance secretary TV Somanathan to explore ways to address concerns raised by government employees over the National Pension System (NPS).
Indian Government Forms Committee to Address Concerns of Government Employees Over National Pension System
The Indian government has formed a committee led by finance secretary TV Somanathan to explore ways to address concerns raised by government employees over the National Pension System (NPS). The committee aims to find a middle ground between the fiscally imprudent old pension system (OPS) and the reform-oriented NPS. The committee will develop a strategy that meets the requirements of government employees while also ensuring financial responsibility to safeguard the interests of the general public. The new approach will apply to both the central and state governments.
Indian government committee explores options for improving National Pension System for government employees
Sources suggest that the committee may consider offering guaranteed pensions to government employees at around 50% of their last pay drawn under the NPS. One possible option to address concerns is to tweak the existing scheme to offer graded pensions – 40% pension for those with at least 20 years of service and approximately 50% for those with at least 30 years. The new pension system will be designed in a way that satisfies all stakeholders’ concerns while keeping in mind the fiscal constraints of the government.
Tanzania announces outbreak of deadly Marburg virus disease
The Kagera region of Tanzania has been declared an epidemic zone by the country's leaders after five people died and three others were diagnosed with Marburg viral disease at a local hospital.
The northwestern Kagera region of Tanzania has been declared an epidemic zone by the country’s leaders after five people died and three others were diagnosed with Marburg viral disease (MVD) at a local hospital. The World Health Organization (WHO) has identified 161 individuals who are at risk of contracting the virus through contact tracing.
More about the outbreak of the deadly Marburg virus disease:
The government has deployed an emergency response team to the affected area, and neighboring countries have increased their surveillance efforts. Thus far, no cases have been reported outside of Kagera.
About Marburg Virus:
The discovery of Marburg viral disease (MVD) dates back to 1967 in Germany and Serbia. This highly fatal disease, with mortality rates ranging from 24% to 88%, causes severe hemorrhagic fever and is part of the same virus family as Ebola.
Fruit bats are the carriers of the virus, which is then transmitted to humans through contaminated items or bodily fluids. Members of the family and healthcare providers are at a higher risk of contracting the disease.
The symptoms of MVD can vary, starting from fever, nausea, and rash to jaundice and extreme weight loss. While there are no vaccines or treatments for the virus, controlling the patient’s blood and oxygen levels or rehydration can help alleviate the symptoms and improve the chances of survival.
The Africa Centers for Disease Control and Prevention (Africa CDC) are working towards controlling the current outbreak. The director of Africa CDC has called for strengthening the health security of the continent to address the disease threats. Tanzania’s health minister has urged residents to follow health recommendations and exercise caution until the situation is under control.
Government of India launched National Rabies Control Program (NRCP) for prevention and control of Rabies
A new initiative called the National Rabies Control Programme (NRCP) has been introduced by the Central Government with the aim of preventing and controlling Rabies.
The Central Government has launched a program called the National Rabies Control Programme (NRCP), which seeks to prevent and manage cases of Rabies.
What are the Objectives of National Rabies Control Program (NRCP)?
The objectives of the NRCP include providing rabies vaccine and immunoglobulin through free national drug initiatives, conducting training on appropriate animal bite management, prevention and control of rabies, surveillance, and intersectoral coordination, enhancing the surveillance of animal bites and reporting of rabies deaths, and raising awareness about rabies prevention.
Rabies is a viral infection that can be prevented by vaccination and is transmitted through the saliva of infected animals such as dogs, cats, and monkeys.
Transmission occurs when an infected animal bites a person, depositing the virus in the wound.
The disease is typically fatal if clinical symptoms appear, with death occurring within 4-14 days due to cardio-respiratory failure.
Domestic dogs are responsible for the majority of human rabies cases, and the incubation period can vary from 1 week to 1 year or even longer, typically lasting 2-3 months.
Preventive measures include vaccinating pets, avoiding contact with wildlife, and seeking prompt medical care after potential exposure to the virus.
Initial signs of rabies, which can last several days, include flu-like symptoms such as fever, headache, nausea, vomiting, anxiety, confusion, hyperactivity, difficulty swallowing, excessive salivation, hallucinations, and insomnia.
On the 28th of September each year, World Rabies Day is observed to increase awareness about the impact of rabies virus disease and methods to prevent it.