Category Archives: News

SEBI Proposes INR Fee Payment for FPIs, FVCIs to Ease Compliance

July 3: The Securities and Exchange Board of India (SEBI) has proposed allowing Foreign Portfolio Investors (FPIs) and Foreign Venture Capital Investors (FVCIs) to pay registration and renewal fees in Indian rupees (INR), aiming to simplify compliance and reduce transaction complexity for foreign investors.

The move is intended to streamline administrative procedures, eliminate foreign currency payment requirements, and improve ease of doing business in India’s capital markets.

The proposal is currently under consideration and will be implemented after regulatory approvals and stakeholder consultations.

Indian Junior Women’s Hockey Team Departs for UK Exposure Tour

July 3: The Indian junior women’s hockey team has departed for the United Kingdom as part of an exposure tour aimed at strengthening international experience and preparing the squad for upcoming global competitions.

The tour will provide the young athletes with an opportunity to compete against high-performance international teams, helping them gain valuable match exposure, improve tactical awareness, and adapt to different playing conditions and styles.

Officials associated with the development program stated that such international tours play a crucial role in building depth in the national hockey pipeline and shaping future senior-level players. The experience is expected to enhance team cohesion, technical skills, and overall game readiness.

The exposure tour is also aligned with Hockey India’s long-term development strategy to provide consistent international match practice to junior players and ensure a smooth transition to elite-level competition.

The team will participate in a series of practice matches and training sessions during the tour, which is expected to contribute significantly to their preparation for upcoming international tournaments.

DJ Group Chairman Rhitik Jassar Presents DJ Medicity Vision to UP Medical Education ACS Amit Kumar Ghosh

Lucknow, July 3: Rhitik Jassar, Chairman of the Jassar Dental Medical Education Health Foundation and DJ Group of Institutions, met Amit Kumar Ghosh, IAS, Additional Chief Secretary, Medical Education & Medical Health, Government of Uttar Pradesh, to present the progress and vision for DJ Medicity, the group‘s integrated medical college and teaching hospital coming up in Modinagar.

During the meeting, the Additional Chief Secretary reviewed the project’s progress and appreciated its vision of strengthening access to quality medical education and private healthcare in Modinagar, a region with significant unmet healthcare needs. He also acknowledged the contribution of the DJ Group of Institutions, which has been serving Uttar Pradesh through healthcare education since 1997.

Amit Kumar Ghosh, IAS, Additional Chief Secretary, Medical Education & Medical Health, Government of Uttar Pradesh, said,

 “The Government of Uttar Pradesh continues to encourage quality investments in medical education and healthcare infrastructure. The DJ Group of Institutions has made a meaningful contribution to healthcare education in the state over the past three decades. It is encouraging to see a young leader like Rhitik Jassar carrying forward the vision of Founder Chairman Sardar Ajit Singh Jassar with clarity, commitment and purpose. At an age when many pursue opportunities elsewhere, Rhitik has chosen to return and invest in his home state. Such entrepreneurship and institution-building are vital as Uttar Pradesh advances its vision of becoming a US$1 trillion economy and further strengthens medical education through initiatives such as One District, One Medical College.” 

The meeting follows an important milestone for the project. On 8 February 2025, the foundation stone for DJ Medicity was laid by former Chief Secretary of Uttar Pradesh Manoj Kumar Singh, IAS, one of the most influential and respected bureaucrats in the state.. The project is now nearing completion, with partial operationalisation of the completely renovated teaching hospital proposed for 15 September 2026, marking the 70th birth anniversary of Founder Chairman Sardar Ajit Singh Jassar.

The project has been masterplanned by Creative Designer Architects , a leading healthcare architecture firm behind AIIMS Guwahati, AIIMS Gorakhpur, AIIMS Bathinda, and multiple projects for Max Healthcare, Fortis Healthcare, Paras Health and Yashoda Hospitals.

Healthcare planning and operationalisation are being led by White Hawk Associates with strategic guidance from Bhavdeep Singh (Former CEO, Fortis Healthcare & Reliance Retail), Dr. Rajen Ghadiok (Former Chief Medical Officer, Fortis Healthcare; Former Chairman, Cardiology, Sir Ganga Ram Hospital), Ajay Vij (Former CIO, Fortis Healthcare & Reliance Retail; Former Practice Head, Siemens) and Gurjit Singh (Former CEO, Sakra World Hospital; Senior Director, Alvarez & Marsal), covering hospital planning, operations and medical technology.

DJ Medicity, with a planned capacity of 1,205 hospital beds , is envisioned as a multidisciplinary institution offering undergraduate, postgraduate, doctoral and super-speciality programmes across medicine, allied health sciences, nursing, law, management, science, technology and other emerging disciplines. The campus, masterplanned for over 10,000 people, will also include advanced research centres dedicated to oncology, nuclear medicine, sports medicine and injury rehabilitation, creating an integrated ecosystem for medical education, research and healthcare delivery.

Commenting on the initiative, Rhitik Jassar, Chairman of the Jassar Dental Medical Education Health Foundation  and DJ Group of Institutions, said,

 “DJ Medicity represents my father’s vision of transforming Modinagar into a destination for quality healthcare and medical education. Our focus is to build an institution that combines clinical excellence, medical education and patient-centric care while serving the healthcare needs of an underserved region. We are grateful for the encouragement and guidance extended by the Government of Uttar Pradesh as we work towards bringing this vision to life.”

The ₹500 crore DJ Medicity project aims to create a world-class integrated ecosystem for medical education and healthcare, aligned with the Government of India’s vision for Institutions of Eminence. Expected to generate approximately 3,000 direct and 10,000 indirect employment opportunities, the project will strengthen medical education capacity, improve access to advanced healthcare in western Uttar Pradesh, and attract significant private investment into the state’s healthcare and higher education sectors. 

The initiative also aligns with the Government of Uttar Pradesh’s efforts to expand healthcare infrastructure and medical education while representing the next phase of institutional leadership under Chairman Rhitik Jassar. 

US Retains Position as India’s Largest LPG Supplier in June: Report

July 3: The United States continued to hold its position as India’s largest supplier of liquefied petroleum gas (LPG) in June, according to industry data, underscoring strong energy trade ties between the two countries.

The report highlights that LPG imports from the US remained robust during the month, supported by competitive global pricing and steady supply availability. India continues to rely on diversified import sources to meet its growing domestic LPG demand, driven by rising household consumption and government-backed clean cooking initiatives.

Energy analysts note that the sustained supply from the US reflects India’s broader strategy of ensuring energy security through a balanced import portfolio across key international suppliers. Alongside the US, other major exporters also contribute to India’s LPG requirements, helping maintain stable supply conditions in the domestic market.

The continued dominance of the US in June reinforces its role as a key energy partner for India, particularly in the liquefied petroleum gas segment, where demand is expected to remain strong in the coming months due to seasonal and structural consumption trends.

State-Level Reforms Set to Triple India’s Commercial & Industrial Renewable Energy Capacity by 2032: Report

July 3: India’s commercial and industrial (C&I) renewable energy capacity is expected to nearly triple by 2032, rising from about 32 GW in 2025 to nearly 100 GW, driven by sustained policy reforms at the state level, according to a new industry report by the India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES).

The report highlights that progressive state initiatives—particularly Green Energy Open Access (GEOA) frameworks, streamlined regulatory approvals, and incentives for renewable procurement—are enabling faster adoption of clean energy among industrial and commercial consumers.

According to the findings, state governments are emerging as key enablers of India’s decentralized energy transition by improving market access and allowing large consumers to directly procure renewable power. This shift is expected to reduce energy costs for industries while helping them meet renewable purchase obligations (RPOs) and long-term sustainability targets.

The study also projects strong growth in energy storage within the C&I segment, which is expected to reach 28–31 GWh by 2032. This expansion will be driven by the increasing integration of variable renewable sources such as solar and wind, necessitating reliable storage solutions to ensure round-the-clock power availability and grid stability.

Industry experts cited in the report note that improving cost competitiveness of renewable energy, combined with corporate net-zero commitments, is accelerating demand across manufacturing, IT, and large commercial sectors. However, the report also flags uneven policy implementation across states and grid infrastructure limitations as potential challenges that could affect the pace of growth.

India’s broader clean energy transition goals, including achieving over 500 GW of non-fossil fuel capacity by 2030, are expected to be significantly supported by the rapid scaling of the C&I renewable energy segment.

Entrepreneur Loans Grow Faster Than Lending to Commercial Entities: Report

New Delhi, July 3: A recent report shows that business loans to individual entrepreneurs and small business owners are growing at a faster pace than credit extended to larger commercial entities, indicating a shift in lending patterns.

The report highlights rising credit flow toward micro, small, and medium enterprises (MSMEs) and self-employed entrepreneurs, supported by improved access to formal banking channels and digital lending platforms.

Government-backed credit schemes and financial inclusion initiatives have also contributed to easier loan availability for small businesses, encouraging wider participation in formal credit systems.

While lending to established corporate entities continues to expand steadily, the stronger growth in entrepreneur-focused loans reflects increasing emphasis on supporting grassroots business activity and job creation.

Experts note that this trend signals growing confidence in the small business segment, while also stressing the need for prudent lending practices to maintain credit quality.

India, France to Deepen Innovation and Investment Ties: Sitharaman

New Delhi, July 3: Finance Minister Nirmala Sitharaman has said that the India–France strategic partnership will play an important role in driving the next phase of innovation-led growth, with both countries expanding cooperation in key areas such as technology, investment, and sustainable development.

Pic Credit: https://x.com/FinMinIndia 

She highlighted that the bilateral relationship between India and France is built on long-standing trust and is steadily deepening across sectors including defence, space, digital technologies, clean energy, and infrastructure.

According to officials, the partnership is expected to open new avenues for research, innovation, and economic collaboration, while also supporting long-term development priorities for both nations.

The Finance Minister’s remarks reflect India’s growing emphasis on strengthening global partnerships to support innovation-driven economic expansion and enhance competitiveness in the global economy.

Centre Flags E-Rickshaw Battery Safety, Orders Removal of BAT-BMS Apps

New Delhi, July 3: The government has directed app stores to remove BAT-BMS applications following concerns related to the security and safety of e-rickshaw battery management systems.

Officials said the move is aimed at strengthening oversight of battery management software used in electric three-wheelers, particularly e-rickshaws, which rely heavily on digital battery monitoring systems for safe operation.

The action comes amid concerns that vulnerabilities in such applications could potentially impact battery performance, safety standards, and operational reliability. Authorities are reviewing compliance requirements to ensure that battery management systems meet necessary safety protocols.

The directive is part of broader efforts to regulate digital tools linked to electric mobility and ensure safer adoption of EV technologies across the transport sector.

Further assessments are expected to be carried out to evaluate other similar applications in the ecosystem, with an emphasis on improving cybersecurity and operational safety standards.

Officials have advised stakeholders to comply with regulatory guidelines and ensure that only approved and secure systems are used in electric vehicle operations.

Le Méridien Kochi Appoints Krutin Sheth as Director of Sales and Marketing

Kochi, July 3: Le Méridien Kochi announced the appointment of Krutin Sheth as Director of Sales and Marketing. In his new role, Krutin will lead the property’s sales, marketing, and revenue management functions, with a focus on strengthening market share across the corporate, MICE, and leisure segments.

Sheth brings over 16 years of experience in the hospitality industry, with a career spanning some of the most recognised global hotel brands. He joins Le Méridien Kochi from Radisson Blu Hotel and Spa, Nashik, where he served as Director of Sales and Marketing, spearheading strategic initiatives across corporate, MICE, and leisure business while implementing data-driven pricing and revenue management practices. 

Prior to that, Sheth spent over a decade with Marriott International in a series of progressively senior sales leadership roles across the company’s India portfolio, including stints in Navi Mumbai, Pune , Belagavi, and Pune , as well as a tenure with Marriott’s National Sales Office. During this period, he held positions including Director of Sales and Marketing, Director of Sales, Associate Director of Sales, and Senior Sales Manager, building a track record in revenue generation, key account management, and team leadership — including steering teams through the COVID-19 pandemic and its aftermath. 

Earlier in his career, Krutin held sales roles with The Lalit Group of Hotels and GRT Hotels & Resorts in Mumbai, where he built his foundation in client relationship management, market research, and corporate rate contracting. 

A postgraduate of the Kohinoor IMI School of Hospitality Management, Lonavla, with a Higher Diploma in International Hospitality, Sheth also holds a B.Sc. in Hotel & Tourism Management from YCMOU University, Nashik. He is certified in Sales & Service Foundation, Sales Negotiation, Dynamic Selling, and Foundation of Leadership. 

With this appointment, Le Méridien Kochi reinforces its commitment to strong sales leadership as it continues to expand its presence in the corporate, MICE, and leisure travel markets in Kerala.

Puri Braces for 25 Lakh Devotees as Preparations Intensify for Lord Jagannath’s Rath Yatra

Puri, July 3 (UDN): With the annual Rath Yatra of Lord Jagannath just days away, the holy city of Puri is witnessing hectic preparations as the Odisha Government and district administration gear up to welcome an estimated 25 lakh devotees from across India and abroad.

 File photo

Construction of the three majestic wooden chariots of Lord Jagannath, Lord Balabhadra and Devi Subhadra is in its final phase, with teams of skilled carpenters and artisans working round the clock to complete the centuries-old tradition in time for the festival.

To ensure the smooth conduct of the world-famous event, authorities have put in place an extensive crowd management and security plan. Puri has been divided into multiple policing sectors, with additional security personnel, rapid response teams and traffic police to regulate pilgrim movement and maintain law and order throughout the festival.

A comprehensive traffic management plan has also been prepared to minimise congestion. Hundreds of electric vehicles will shuttle devotees between designated parking areas and the Grand Road (Bada Danda), improving last-mile connectivity while reducing traffic pressure in the temple town.

The Health Department has strengthened medical preparedness by establishing dedicated emergency wards at hospitals and deploying hundreds of doctors, nurses and paramedics across the city. Temporary health camps, ambulances and first-aid centres will remain operational to provide immediate medical assistance to pilgrims.

Technology will play a key role in monitoring the festival. The entire Grand Road will be kept under round-the-clock surveillance through an extensive network of CCTV cameras linked to an integrated control room. Large LED display screens will provide live updates on crowd movement, traffic advisories and other important announcements to help ensure a safe and orderly Rath Yatra.

Officials have appealed to devotees to follow traffic regulations, cooperate with security personnel and adhere to official advisories for the smooth and peaceful conduct of the festival.

With elaborate arrangements in place, the administration is confident of ensuring a safe, seamless and memorable Rath Yatra experience for millions of devotees visiting the abode of Lord Jagannath.