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NDB to emerge as South-South financial institution Bank to promote innovative mechanisms to become responsive and client-oriente
Oct 14,2016

The New Development Bank (NDB), which was established in July 2014, to extend loans initially to its five founding members n++ Brazil, Russia, India, China and South Africa, is set to offer long-term funding to other emerging economies that have a shared economic development philosophy. In time, NDB is expected to emerge as a SouthSouth financial institution, said Xian Zhu, Vice President and Chief Operations Officer, New Development Bank (NDB) at the BRICS Business Forum (BBF) organized by BRICS Business Council, FICCI, ASSOCHAM and CII.

Zhu said that the primary objective of the bank is to fund infrastructure and renewable energy projects and meet the aspirations of people through sustainable and green development. The focus of the bank is to address the increasingly huge demands being placed on infrastructural financing in view of the low growth rate in the BRICS member countries. He added that NDB was established to alleviate the problem of securing long-term development financing.

Speaking about Public Private Partnership (PPP), Zhu said that the bank was looking at initiating discussions with the private sector to develop PPP model at the global level for projects. The banks idea is to leverage financial resources and fund long term infrastructure projects. NDB aspires to bring about innovative funding mechanisms and wants to emerge as a business institution which is faster in its processes, more responsive, client-oriented and result-oriented.

Zhu said that NDB is open to finance non-BRICS member countries as well which are members in the United Nations. NDB is ready to welcome non-BRICS emerging economies to avail long term financing. The bank wants to play a constructive role in developing economies.

Besides green projects, Mr. Zhu said that NDB will finance other infrastructure projects as well. The bank will try and develop these projects as sustainable and green projects as far as possible to align with the global trend. Speaking on rating, he said that NDB requires an international rating agency.

He said that all the BRICS countries have made their first tranche of paid-in capital, on time and in full. To reduce exchange-rate risks on borrowings, the bank has started extending loans in domestic currencies. This is particularly important as developing countries struggle with high interest rates that are pegged to the dollar, leading to spiraling debt.

Zhu said that NDBs vision is not restricted to funding infrastructure requirements but envisages building a knowledge sharing platform among the developing countries and promote sustainable development. He added that NDB will also allow the BRICS economies to integrate and facilitate trade and investment by creating opportunities for development of the BRICS countries.

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Issue of Disability Pension for Defence Forces Personnel referred to 7th CPC Anomaly Committee
Oct 14,2016

The 7th Central Pay Commission (CPC) recommended a slab based system for determining the disability pension for Defence Forces Personnel, which was accepted by the Government. Percentage based system was followed in the 6th CPC regime for calculating disability pension for Defence Forces Personnel as well as Civilians.

Service Headquarters have represented that the percentage based system should be continued under the 7th CPC for calculating disability pension for Defence Services at par with their Civilian counterparts.

The Ministry has referred the representation of the Service Headquarters to the Anomaly Committee of 7th CPC for consideration.

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PetroFed signs MoU with TERI to undertake a study on Climate Change Risks
Oct 14,2016

PetroFed, an apex society of entities in the Hydrocarbon sector, today signed a Memorandum of Understanding (MoU) with TERI to undertake study on n++Climate Change Risks: Preparedness for Oil and Gas Sectorn++.

Lauding the initiative, Sh. Pradhan said that it will provide a missing link between the policy and the practice in the Hydrocarbon sector. He said Cop 21 will come into effect soon and it is important for the country to know the effects of greenhouse gases and ways to control them.

Cop21-The 2015 United Nations Climate Change Conference, COP 21 or CMP 11 was held in Paris, France, from 30 November to 12 December 2015. It was the 21st yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC) and the 11th session of the Meeting of the Parties to the 1997 Kyoto Protocol.

The conference negotiated the Paris Agreement, a global agreement on the reduction of climate change, the text of which represented a consensus of the representatives of the 196 parties attending it. The agreement will enter into force when joined by at least 55 countries which together represent at least 55 percent of global greenhouse emissions. On 22 April 2016 (Earth Day), 174 countries signed the agreement in New York, and began adopting it within their own legal systems (through ratification, acceptance, approval, or accession).

The Minister said that India is a low per capita energy consumer but as the country is moving towards double-digit growth rate, its energy consumption is bound to increase. The Government is focusing on gas, renewable energy and bio-energy to meet its requirements. It is important to understand the implications of various energy sources and to develop an Indian model for the nations energy sector.

Sh. Pradhan emphasised on scientific research, appropriate business models and creation of awareness among the people. He said that this study will provide important inputs for future strategy on oil and gas infrastructure development. He stated that the study will also provide a comprehensive analysis of threats posed by Climate change to Oil & Gas sector and shall provide a way forward to tackle the challenges posed by climate change. The study will suggest suitable measures for the Oil & Gas sector to achieve Indias INDC target of reducing emission intensity of GDP by 33 - 35 per cent below the levels in 2005 by 2030. The study would further highlight how the global market and technological options are likely to change as a result of global climate policy measures; and how the 1.5 degree and 2 degree scenarios of global warming are likely to affect the infrastructure and operations in different climatic zones of India.

The Minister said the share of gas in the Indian energy basket is 6.5 to 7 per cent while the world average is 24 per cent. India aspires to take the share of gas to 15 per cent in the next 3 to 5 years so as to have a new gas based economy. He said 80 lakh connections have been provided under the Prime Minister Ujjwala Yojana to BPL women and target of 1.5 crore will be achieved this year. The Minister said the country will zoom from BS IV to BS VI by 2020 so as to have clean fuel. He said there is a large scope of energy efficiency in Indian Refineries. On the issue of 2G Ethanol, Sh. Pradhan said Public Sector Companies are setting up 11 plants to manufacture 2G Ethanol. He said the Government wants to promote the LNG as a fuel for vehicles. Efforts are being made to have LNG driven bus in Kerala very soon. Long haul driven vehicles and trains would also adopt LNG as fuel. The LNG handling capacity is being enhanced from 21 MMT to 50 MMT. In Eastern India, the Government is laying 2500km long pipeline which will provide gas to industry and help in gas distribution in 7 cities of Eastern India.

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CPI inflation dips to 13-month low of 4.3% in September 2016
Oct 13,2016

The all-India general CPI inflation dipped to 13-months low of 4.31% in September 2016 (new base 2012=100), compared with 5.05% in August 2016. The corresponding provisional inflation rate for rural area was 4.96% and urban area 3.64% in September 2016 as against 5.87% and 4.22% in August 2016. The core CPI inflation moved up to 4.77% in September 2016 from 4.59% in August 2016. The cumulative CPI inflation rose to 5.40% in April-September 2016 compared with 4.51% in April-September 2015.

Among the CPI components, inflation of food and beverages declined to 4.12% in September 2016 from 5.83% in August 2016 contributing to the fall in CPI inflation. Within the food items, the inflation eased for vegetables to (-) 7.21%, pulses and products 14.33%, spices 8.10%, meat and fish 5.83%, oils and fats 4.65% and milk and products 4.27%. On the other hand, inflation moved up for fruits to 6.07%, prepared meals, snacks, sweets etc. 5.81%, sugar and confectionery 25.77% and cereals and products 4.17% in September 2016.

The inflation for housing eased to 5.18%, while that for miscellaneous items inched up to 4.51% in September 2016. Within the miscellaneous items, the inflation for transport and communication rose to 2.70% and Health 4.67%, while eased for personal care and effects to 7.67%, household goods and services 4.32% and recreation and amusement 3.97% in September 2016.

The inflation for clothing and footwear was flat at 5.19% in September 2016, while the CPI inflation of fuel and light increased 3.07% in September 2016.

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Plunging Capital Goods Output Dragged IIP
Oct 13,2016

A persistent contraction in capital goods output, which reflects a lacklustre investment demand, led to a contraction in the Index of Industrial Production (IIP) growth, says India Ratings and Research (Ind-Ra). IIP contracted 0.7% yoy in August 2016, as against Ind-Ras forecast of negative 0.2% .

Ind-Ra further opines the industrial growth is unlikely to return to a sustained positive growth path so long as the private sector investment cycle does not revive. The sustained large contraction in capital goods output for 10 consecutive months since November 2015 is a clear pointer that investment demand is down and out and its recovery is nowhere in sight.

IIP witnessed a broad-based weakness in August 2016 with a sharp contraction in mining, negligible growth in electricity, and a 0.3% decline in manufacturing output (75.5% weight in IIP; July: negative 3.5%yoy). Although mining has not been doing well now for more than five years, but a contraction in growth in August 2016 was witnessed after a gap of 13 months. It appears that despite the legal hurdles plaguing this sector subsiding over the past one year, the pain is still not over. Surprisingly, electricity which had been one of the better performing sectors at the broad classification level is also showing fatigue. This was the second consecutive month in which electricity growth remained in the low single-digit level.

At the use based level, capital goods output continued its negative trend. Capital goods output contracted 22.2%yoy in August 2016 against a contraction of 29.5% yoy in the previous month. Basic, intermediate and consumer goods growth though remained in the positive territory, they were not encouraging and came in at low single-digit levels. Consumer durables growth moderated to 2.3% in August from around 6% in the previous three months.

Usually, consumer durables show better growth during August and September, led by the creation of inventory for the festival season. Part of the moderation in consumer durables growth could be attributed to a high base effect, as the sector grew 17% yoy in August 2015. Nevertheless, the sustained positive growth witnessed in consumer durables sector since June 2015 bodes well for the overall health of the manufacturing sector, notwithstanding the dismal performance of the capital goods sector. In the classical case of manufacturing/industrial revival, the demand impulses are first felt by the consumer sector before they are transmitted to the basic/intermediates goods sector. The capital goods sector responds to the demand impulse towards the end. Given the existence of excess capacity in several manufacturing sectors, the capital goods sector is unlikely to do well which is reflected in the overall IIP data. However, Ind-Ra believes that in case the consumer goods sector shows sustained growth in the near-term, it may lead to a classical manufacturing/industrial revival as described above.

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116.9% Growth in Foreign Tourists Arrival on E-Tourist Visa in September-2016 Over The Same Period in 2015
Oct 13,2016

A total of 68,809 foreign tourists arrived in September 2016 on e-Tourist Visa as compared to 31,729 during the month of September 2015 registering a growth of 116.9%. UK (15.5%) continues to occupy top slot followed by USA (12.4%) and China (9.0%) amongst countries availing e-tourist visa facility During September 2016.

The facility of e-Tourist Visa has been made available by the Government of India to the citizens of 150 countries, arriving at 16 International Airports in India. The number of e-Tourist Visa availed by foreign tourists visiting India during the month of September, 2016 has registered a substantial growth rate over the corresponding month of 2015. The salient highlights of e-Tourist Visa for and up to the month of September during 2016 are as follows:-

During the month of September, 2016 a total of 68,809 foreign tourists arrived on e-Tourist Visa as compared to 31,729 during the month of September, 2015 registering a growth of 116.9%.

During January- September 2016, a total of 6,75,302 tourist arrived on e-Tourist Visa as compared to 2,01,705 during January-September 2015, registering a growth of 234.8%.

This high growth may be attributed to introduction of e-Tourist Visa for 150 countries as against the earlier coverage of 113 countries.

The percentage shares of top 10 source countries availing e-Tourist Visa facilities during September, 2016 were as follows:

UK (15.5%), USA (12.4%), China (9.0%), Australia (6.0%), Germany (4.8%), France (4.3%), Spain (3.6%), Canada (3.1%), UAE (2.6%) and Malaysia (2.6%).

The percentage shares of top 10 ports in tourist arrivals on e-Tourist Visa during September, 2016 were as follows:-

New Delhi Airport (51.71%), Mumbai Airport (21.06%), Bengaluru Airport (6.44%), Chennai Airport (6.27%), Kochi Airport (3.50%), Hyderabad Airport (2.45%), Kolkata Airport (2.34%),Trivandrum Airport (1.35%) , Amritsar Airport (1.18%) and Dabolim (Goa) Airport (1.11%) .

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Fitch: Reputation Risk Bigger Than Cost Impact of Samsung Recall
Oct 13,2016

Potential long-term brand damage from the recall and production suspension of Samsungs Galaxy Note 7 phone is a greater threat to its credit profile than the direct financial impact, which will be buffered by ample liquidity and a strong balance sheet, says Fitch Ratings.

The immediate impact of the Note 7 incident is unlikely to be significant enough, in itself, to affect Samsung Electronics (SEC) A+/Stable credit rating, which is supported by strong financial metrics that are in line with a higher rating. Fitch believes that the benefits of SECs diversified product portfolio have reduced its vulnerability to this shock. Its other divisions, such as semiconductors, displays and consumer electronics, continue to record robust operating performance.

However, the problems with the Note 7 have raised long-term uncertainty about SECs handset operations, as the issues with the flagship model have highlighted weaknesses both in R&D capabilities and the companys capacity to efficiently remedy serious hardware defects. Note 7 and other potential SEC handset customers may now chose Apple - SECs principal competitor in premium handsets - or mid-tier companies, if damage to the Samsung and Galaxy brands is sustained.

Industry experience, such as the decline of Nokia and BlackBerry, shows how successful manufacturers can lose market share particularly quickly in the handset business. This is due to the fast pace of technological change and the frequency with which many consumers change their handsets.

SEC revised down its preliminary 3Q16 results on 12 October 2016 from the previously announced figures. Operating profit decreased by one-third to KRW5.2trn (USD4.7bn), which is now 30% lower than the same quarter last year. The revision is to reflect the cost of the decision to scrap the Note 7, which is estimated to reach around KRW2.6trn (USD2.3bn). We expect SECs profit for the next few quarters to be affected by a loss of smartphone sales and additional expenses related to the Note 7, such as legal claims. Nevertheless, SECs balance sheet will remain healthy, underpinned by strong liquidity and relatively low debt. SEC had KRW73.2trn of cash and equivalents as of end-June 2016, sufficient to cover KRW12.3trn of total debt - which is mostly a trade-finance facility.

Samsung recalled 2.5 million Note 7 smartphones in September 2016 after a number of the units spontaneously burst into flame. Faulty batteries were blamed at first, and Samsung issued replacement phones that it claimed were safe. However, the new phones suffered the same problem, and Samsung asked consumers to switch off Note 7s on 11 October. All production and sales of Note 7 handsets have been stopped, and the model has been withdrawn.

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Cabinet approves new link between Sahibganj bypass in Jharkhand to Manihari bypass in Bihar including four lane bridge on river Ganga
Oct 13,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the construction of new link between Sahibganj bypass in Jharkhand to Manihari bypass in Bihar including four lane bridge on river Ganga.

The cost is estimated to be Rs.1954.77 crore including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The total length of the road to be developed is approximately 22 kms.

This work will be done under the National Highways (Others) on Hybrid Annuity Mode. The concession period of the Project is 19 years including a construction period of four years.

The new link road will be approximately 16 km long starting (km.200.87 of Sahibganj Pass in Jharkhand) to another six km long near Narenpur (junction of NH-133B and NH-131A on Manihari bypass in Bihar). This stretch also includes a four-lane Bridge on Ganga river.

The project will help in expediting the improvement of infrastructure in Bihar and Jharkhand and also in reducing the time and cost of travel for traffic, particularly heavy traffic, plying in the area in these States. The development of this stretch will also help in uplifting the socio-economic condition of this region in the State.

It would also increase employment potential for local labourers for project activities. It has been estimated that a total number of 4,076 mandays are required for construction of one kilometer of highway. As such, employment potential of 89,000 (approx.) mandays will be generated locally during the construction period of this stretch.


The new project highway is a new formation of the missing link at NH-131A to NH-133B connecting Sahibganj in Jharkhand and Manihari in Bihar. At present, there is a missing link between Jharkhand to Bihar as there is no Bridge on the river Ganga at this location. The vehicular traffic uses Vikramshila Setu at Bhagalpur on Farakka barrage thus travelling a long distance to reach their destinations in North Bihar.

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Cabinet approves revision of ethanol price for supply to Public Sector Oil Marketing Companies
Oct 13,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme in the following manner:

i. For the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.

ii. Additionally, charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.

iii. If the need arises to increase/reduce the retail selling price of Petrol by Public Sector OMCs, then such increase/reduction would proportionately factor in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year.

iv. The prices of ethanol will be reviewed and suitably revised by Government at any time during the ethanol supply period that is from 1st December, 2016 to 30th November, 2017 depending upon the prevailing economic situation and other relevant factors.

The revision in ethanol prices will facilitate the continued policy of the Government in providing price stability and remunerative prices for ethanol suppliers.

Background: Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the Notified 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.

However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.

In order to augment the supply of ethanol, a need was felt to put in place a new mechanism for pricing of ethanol. Accordingly, the Government on 10th December, 2014 decided that the delivered price of ethanol at OMC depots would be fixed in the range of Rs. 48.50 per litre to 49.50 per litre including Central/State Government taxes and transportation charges.

The decision has helped in significantly improving the supply of ethanol. Ethanol supplies increased to 67.4 crore litres in 2014-15 and the projected supplies for ethanol supply year 2015-16 are around 120 crore litres. The objective to fix the delivered price of ethanol has been achieved to a large extent. In view of firming of sugar prices, falling crude prices and consequent under-recoveries of OMCs on this account, a need to re-examine the pricing of ethanol under EBP Programme has been felt.

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Cabinet approves MoU between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing the Memorandum of Understanding (MoU) between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation.

The MoU would expand more Bilateral Trade and Economic Cooperation between India and Russian Federation.

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Cabinet approves MoU between India and Hungary on cooperation in the field of water management
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between India and Hungary on cooperation in the field of water management.

The MoU will be signed between Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India and the Ministry of Interior, Government of Hungary. It will enhance bilateral cooperation in the field of water management, on the basis of equality and mutual benefits. This will encourage the development of bilateral relations between public and private organizations concerning water resources of both the countries.

Both the countries will get benefited by joint activities and mutual exchange of scientific delegations and experts in the field of water resources development and management. The cooperation, particularly on river basin management/ integrated water resources management, efficiency in water supply and irrigation technology innovation and flood & drought management will help improve the socio-economic conditions of the people of both the countries.

Ministry of Water Resources, River Development and Ganga Rejuvenation is entering into a MoU with Hungary with wide-ranging areas on water sector for the first time.

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Cabinet approves redevelopment of residential colonies at West Ansari Nagar and Ayur Vigyan Nagar Campuses of AllMS, New Delhi
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has approved redevelopment of residential colonies at West Ansari Nagar and Ayur Vigyan Nagar Campuses of All India Institute of Medical Sciences (AllMS), New Delhi. National Buildings Construction Corporation Limited (NBCC) will undertake the exercise to replace the existing housing stock of 1,444 dwelling units of Type I to IV with Build Up Area (BUA) of approx. 0.87 lakh sqm with approx. 3,928 dwelling units of Type II to VI with BUA of approx. 4.02 lakh sqm. It will also create social infrastructure facilities of approx. 0.65 lakh including Dharamshala and approx. 0.94 lakh commercial BUA.

The total estimated cost of the project is Rs.4441 crore including maintenance and operation costs for 30 years. The project shall be implemented on self-financing basis by sale of commercial space on free hold basis with no cost to the exchequer to the Government. The project will be completed in five years in a phased manner.


The present residential accommodations at West Ansari Nagar and Ayur Vigyan Nagar campuses are more than 50-60 years old and have outlived their utility. They are unsafe to live in. The rapidly deteriorating condition of these old houses entails very high expenditure on their maintenance. The existing housing stock in AllMS, New Delhi demonstrates highly inefficient use of the land. Thus, Ministry of Health and Family Welfare moved this proposal for redevelopment of existing old dilapidated housing stocks to augment the housing stock by making optimum utilization of land resources as: per Master Plan Delhi (MPD) - 2021 and using modern construction technology with green building norms and in-house solid/liquid waste management facilities.

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Cabinet apprised of the MoU between India and Qatar on cooperation in the field of Youth and Sports
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) signed on April 7, 1999 and the First Executive Programme for MOU signed with Qatar on bilateral cooperation in the field of Youth and Sports signed on 05 June 2016.

The MoU will help in expanding knowledge and expertise in the areas of sports science, sports medicine and coaching techniques, which would result in improvement in performance of our sportspersons in international tournaments and strengthening of bilateral relations between India and Qatar. It would be equally applicable to all sportspersons irrespective of their caste, creed, region, religion and gender.

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Cabinet approves MoU between Exim Bank on General Cooperation with the NDB, along with other Development Financial Institutions of BRICS nations
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) on General Cooperation with New Development Bank (NDB) through the BRICS Interbank Cooperation Mechanism by Government at the level of Secretary, Department of Economic Affairs/ Export Import Bank of India.

The proposal will enhance trade and economic relations among the BRICS countries. There is no financial implication involved with signing of the MoU. The participating institutions from the BRICS nations will be benefitted by this MoU.

The MoU is a non-binding umbrella agreement aimed at establishing a cooperation framework in accordance with the national laws and regulations, besides skills transfer and knowledge sharing amongst the signatories, Further, establishment of the NDB reflects the close relations among the BRICS countries and provides a powerful instrument for increasing their economic cooperation and help India play an enhanced international role. Therefore, keeping in view the strategic relevance of cooperation for sustainable development and inclusive economic growth, the signing of MoU is necessary in the context of cooperation extended by the Members in various forms for promoting and facilitating trade of goods and services as well as investments in mutual projects among the BRICS countries.


Five banks from the BRIC nations had established the BRICS Interbank Co-operation Mechanism to enhance trade and economic relations amongst the BRIC countries, and enterprises. The BRICS Interbank Co-operation Mechanism now proposes to sign a Memorandum of Understanding (MOU) on General Co-operation with the New Development Bank.

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Cabinet approves establishment of an Indian Institute of Management at Jammu
Oct 13,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the establishment and operationalisation of Indian Institute of Management (IIM) at Jammu in a transit/temporary campus at Old Government College of Engineering & Technology from the Academic Year 2016-17.

The project will involve a cost of Rs.61.90 crore in temporary campus for the initial four years from 2016 to 2020. The student strength intake for this year in the Post Graduate Diploma Programme (PGDP) in Management is 54 which will progressively go up to a cumulative student strength of 120 in the 4th year. Meanwhile, steps would also be taken up for setting up campus at Jammu and an out-campus in Kashmir region. The Detailed Project Report for the permanent campuses is under preparation and thereafter the process for setting up of the campuses would start.

The Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860. IIM Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Government of India, which will administer the Institute and would be responsible for establishment and operationalisation of the Institute.

This is a part of Prime Ministers development package for Jammu & Kashmir. The Institute coupled with opening of IIT at Jammu, modernization of NIT Srinagar and opening of two new AIIMS institutions, one each in Kashmir region and Jammu region, would go a long way in meeting the requirement of high quality living and education in Jammu & Kashmir.


Indian Institutes of Management are the countrys premier institutions imparting best quality education in management on globally benchmarked processes of education and training in management education and allied area of knowledge.

At present, there are nineteen IIMs. Out of these, thirteen IIMs are located at Ahmedabad, Bengaluru, Kolkata, Lucknow, Indore, Kozhikode, Shillong, Ranchi, Raipur, Rohtak, Kashipur, Trichy, Udaipur. Another six IIMs which have been started in 2015 are located at Amritsar, Sirmaur, Nagpur, Bodhgaya, Sambalpur and Vishakhapatnam.

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