INDIA
- The Union Cabinet on Wednesday raised the subsidy given on LPG cylinders under the Ujjwala scheme to ₹ 300 from the current ₹ 200 per cylinder.
A 14.2-Kg cylinder under the Ujjwala scheme, which provides free cooking gas connections to poor women, will now cost ₹ 603 as against the current ₹ 703.
- Maharashtra Minister for Culture Affairs Sudhir Munganitwar on Tuesday signed an memorandum of understanding (MoU with Victoria and Albert Museum in London for a ‘wagh nakh’ (Knuckle duster with metal nails resembling tiger claws) belonging to Chhatrapati Shivaji Maharaj to make a journey to the State for an exhibition to commemorate the 350th anniversary of his ascension to the throne.
BUSINESS
- The Reserve Bank of India (RBI) has elevated Muneesh Kapur as Executive Director, Mr. Kapur will look after the Department of Economic and Policy Research. Prior to being promoted as ED, he was advisor-in-charge, Monetary Policy Department, and Secretary to the Monetary Policy Committee. Mr. Kapur has also served as advisor to Executive Director, IMF, during 2012-15.
- The National Investment and Infrastructure Fund has entered into a collaboration with Japan Bank for International Cooperation (JBIC) to unveil a $600 million India-Japan Fund.
The fund will have JBIC and Government of India as anchor investors.
It will focus on investing in environment sustainability and low carbon emission strategies and aims to play the role of being a ‘partner of choice’ to further enhance Japanese investments into India, the finance ministry.