The event witnessed the presence of several distinguished dignitaries, including:

• Sri S. K. Majumdar, Executive Director, Canara Bank
• Dr. Vishal R, Secretary to Government (FR), Finance Department, GoK
• Smt. Sonali Sen Gupta, Regional Director, RBI
• Dr. Surendra Babu, Chief General Manager, NABARD
• Sri Bhaskara Chakravarthy M, General Manager, Canara Bank, and Convenor, SLBC
• State Controlling Heads of various banks and senior officials from the line departments.

The Total Credit Plan outlay for 2025-26 has been set at Rs. 11,88,986 crore, which includes:

• Priority Sector Credit: Rs. 4,38,016 crore (36.84% of total credit)
  • Agriculture Credit: Rs. 2,22,204 crore (50.73% of priority sector credit)
  • Crop Production Loans: Rs. 1,40,108 crore
  • MSME Credit: Rs. 1,90,891 crore
  • Education Loans: Rs. 2,222 crore
  • Housing Loans: Rs. 11,678 crore
  • Other Sectors: Rs. 11,022 crore

During the meeting, Smt. Uma Mahadevan, ACS&DC, GoK, emphasized the need for universal coverage under social security schemes such as PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) and PMSBY (Pradhan Mantri Suraksha Bima Yojana). She also urged all banks to onboard IIBF-certified NRLM SHG women as BC Sakhis, thereby enhancing the last-mile delivery of banking services.

She commended the efforts of SLBC, RBI, NABARD, and all participating financial institutions for their collaborative efforts in the formulation of the ACP. She encouraged effective implementation of the plan to achieve the credit targets and promote inclusive and equitable growth across Karnataka.

Sri S. K. Majumdar, Executive Director, Canara Bank, instructed banks to dispose of the pending applications of Government-sponsored schemes well within the timelines.

Dr. Vishal R, Secretary to Government (FR), Finance Department, GoK stressed the importance of coverage of all eligible population under the ambit of Jansuraksha schemes.

Smt Sonali Sen Gupta, Regional Director, Reserve Bank of India, congratulated all stakeholders on the timely conduct of DCC/DLRC meetings.

Dr. Surendra Babu, Chief General Manager, NABARD, appreciated all stakeholders for the launch of ACP in line with NABARD’s Potential Linked Plan.

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The Annual Report highlights the Institute’s major contributions to the development of Islamic finance as a tool to foster sustainable economic progress of IsDB Member Countries and Muslim communities worldwide.

Key highlights of the report include achievements in the main programs and significant progress of the Institute’s flagship projects, which seek to leverage emerging technologies and Islamic finance to deliver solutions to the most pressing development challenges.

The report details IsDBI’s efforts in leading the transformation of the Islamic finance sector within the IsDB Special Allocation Program to Support the Islamic Finance Industry. The Institute successfully approved 24 new technical assistance projects valued at US$4.17 million, the highest level since the inception of the Special Allocation Program in 2013.

The Institute made significant progress in its projects integrating knowledge technologies with Islamic finance, including developing a functional demonstration of the Smart Stabilization System and transitioning the Islamic Finance Artificial Intelligence Assistant to a no-code platform.

In the area of global outreach, IsDBI continued to strengthen its strategic partnerships with global and regional institutions, contributing to the delivery of major initiatives in knowledge creation and human capital development. Capacity-building programs, through the multi-modal delivery of diverse training courses in Islamic finance, benefited professionals and online learners from 130 countries.

Feasibility studies were commissioned on the game-changing flagship projects, namely the Awqāf Free Zones, Smart Countertrade System and Digital Postal Islamic Financial Services. The outcome of the studies will lead to pilots in partnership with the relevant Member Countries and industry players, before the subsequent full-scale implementation of the projects.

On this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, expressed delight in the Institute’s accomplishments and reaffirmed its commitment to the delivery of knowledge-based solutions to support the sustainable economic advancement of Member Countries and Muslim communities worldwide.

The 2024 Annual Report is available on the IsDBI website here: https://isdbinstitute.org/product/isdbi-annual-report-2024/

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Anil Naik, President of APP said that the number of member companies has increased during this year and demonstrates the progress of the organisation and its commitment to the welfare of the sector. He added that the ‘Plasto Exhibition’ the flagship project of APP to be held on 8-11 JAN 2025 has received a very good response. ‘Plasto 2025’ will be held at a much grander scale at Moshi International Exhibition Centre with an area of 1,00,000 sq ft out of which 70 percent has been already booked.

The annual general meeting also discussed the work in progress for Plasto 2025. During the meeting, it was also decided to expand the Plasto committee with advisors which will benefit the endeavor.

All new members were handed over certificates, bags, and pins.

A moment of silence was observed for the late Radheshyam Bhattad and late Yashwant Karve who were senior members of the association and passed away this year. 

Association for the Promotion of Plastics (APP) was established in Pune in 1981. The basic objectives of the Association are to promote the growth of Plastics and related industries, create a common platform and to bring together the members, solve common problems of Plastic and Polymer Industry to educate the members, and propagate up-to-date knowledge related to Plastics-Polymers and spread technical advancement.

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Throughout the five-day meetings, held in the Kenyan capital, Nairobi, shareholders approved a $117 billion callable capital increase, raising the Bank’s total capital to $318 billion. This boost is intended to strengthen the Bank’s capacity for interventions across Africa.

“This is a major demonstration of the faith, of the confidence that our shareholders have in us,” said Bank president Akinwumi Adesina. “Their confidence in our ability to use resources well, their confidence in our ability to mobilize more capital with what we have, and it will give us more liquidity as a bank to be able to do more.”

The theme of this year’s event, held from 27 – 31 May, was “Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture.” Adesina emphasized the necessity for a fairer and more equitable global financial architecture and climate finance system, ensuring it benefits the countries that need it most.

The event saw Kenya pledging $20 million to the African Development Fund, the concessional window of the Bank Group serving 37 low-income countries. This pledge makes Kenya the largest regional member country contributor to the fund.

This year’s meetings attracted over 10,000 participants from Africa and beyond and marked the launch of the Bank’s 60^th anniversary celebrations. Delegates included several African heads of state and government, Bank governors, executive directors, senior government leaders, development partners, academia, and civil society representatives.

Apart from statutory meetings, the event featured several side events and knowledge-sharing dialogue sessions, led by African and global experts. The Bank’s flagship African Economic Outlook report was also unveiled, revealing that African economies are demonstrating resilience despite challenging economic conditions. The report noted an average GDP growth of 3.7 percent for 2024, with a projected increase to 4.3 percent in 2025.

Adesina underscored the importance of Africa being central to the global financial architecture: “The Bank must continue to lead that charge. We need to be at the table. As Africans, we should believe in ourselves and write a new narrative for Africa. The growth of Africa will support the growth of the world with Africa at its heart.”

There was consensus that to achieve Africa’s structural transformation, there is a need to improve the macroeconomic environment, domestic resource mobilization, tax collection, digitalization, formalizing the informal sector, tackling illicit capital flows and corruption, and improve the capacity of countries to better negotiate taxes and royalties from their vast natural resources.

Shareholders also strongly endorsed the creation of an African credit rating agency, designed to better understand and fairly assess the continent’s conditions.

“That African rating agency is not going to be a replacement for the global rating agencies,” Adesina explained. “What the heads of state are saying is they want a counterpart institution that understands the conditions in the continent better.“

Adesina stressed the need for reform in the global rating system: “The global rating system has to change. We need to create a fair response that rates African countries properly and with equity. Africa is not asking for a pass, but there needs to be a fair process that rates African countries properly. It’s about fairness, it’s about equity, it’s about making sure that both sovereign and non-sovereign are rated properly.”

In the final Communique, the Bank’s Governors, representing shareholders, highlighted several positive developments, including the Bank’s efforts to enhance food and nutrition security in Africa through its Feed Africa Strategy. They also expressed confidence in Africa’s ability to build a green energy infrastructure while pursuing a low-carbon future.

The Communique underscored the need for increased private sector investments to accelerate Africa’s transformation. It called on the Bank’s management to further strengthen support for regional member countries to help them achieve sustainable development goals.

The Governors welcomed efforts to secure over $1.5 billion in financing through the Affirmative Finance Action for Women in Africa (AFAWA) and to mainstream gender across all operations.

The Nairobi gathering marked the 59^th Annual Meeting of the Board of Governors of the African Development Bank and the 50^th Meeting of the Board of Governors of the African Development Fund.

The meetings concluded with Kenya’s Cabinet Secretary for National Treasury and Economic Planning, Prof. Njuguna Ndung’U, chair of the 2024 event, handing over the baton to Côte d’Ivoire’s Minister of Economy, Planning, and Development, and Bank Governor, Niale Kaba, as the country prepares to host the 2025 Annual Meetings in Abidjan from May 26 to May 30, 2025.

The Bank will climax activities marking its 60^th anniversary in September.

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Oussama Kaissi, the Secretary-General of AMAN UNION, emphasized the vital role of the Union in fostering economic stability and growth through collaborative efforts. “Our meeting today not only addresses the crucial aspects of our existing programs but also sets the stage for welcoming new members into our Union. This expansion is a testament to our collective commitment to enhancing economic resilience and prosperity across the region,”

Adding to this, His Excellency Eng Saad Alkhalb, CEO of Saudi EXIM Bank, expressed his delight: “We are glad to host this significant meeting and commend the Union Executive Council for their exemplary efforts. We eagerly welcome the invaluable contributions from all member ECAs as we discuss avenues to enhance cooperation and drive the development of the Export Credit Insurance Industry at our region. This meeting is an important step for the local, regional & int’l connectivity of trade & transport networks among member countries. Saudi EXIM Bank is keen to put forward the integration agenda with all ECAs in the region and beyond”.

The meeting delved into several key areas, including the progress of the Union’s initiatives in training and development, performance enhancement, and the strategic operations of its specialized committees. These discussions underscore the Union’s proactive approach to addressing the dynamic needs of its membership and the broader economic landscape.

Further, the Executive Council laid out comprehensive plans for the upcoming Annual Meeting of the Union, scheduled for the fourth quarter of 2024. This event is expected to bring together top leaders and decision-makers to chart the future course of economic cooperation in the region. Mr. Abdullah Alsabeeh, Director-General of Dhaman, Chairman of the AMAN Union Executive Council indicated that this meeting addressed several topics of high importance for the members of Aman Union. The meeting discussed Academic and professional training courses for the junior and middle management staff of our member ECAs, the upgrading of the Aman Union Database as well as a plan for the establishment of a dedicated Secretariat General for the Union” said Mr. Alsabeeh.

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During the summit, the two leaders agreed to support the G20 Leaders Declaration to pursue efforts to triple renewable energy capacity globally by 2030. They also agreed to pursue law enforcement coordination on counternarcotics, including on the illicit production of fentanyl. The two sides announced the resumption of military-to-military communications, put on hold by China since US Speaker of the House Nancy Pelosi visited Taiwan in 2022. They also affirmed the need to address the risks of advanced AI systems and improve AI safety through talks.

The meeting comes at a pivotal time in US-China relations as the two leaders seek to reduce friction and forge new areas of cooperation. Given the tailspin in bilateral relations, expectations for the meeting were exceedingly low. Yet the two leaders were able to agree on a set of modest proposals on climate and dialogues to stabilize the relationship going forward.

China also released its long-awaited Methane Emissions Control Action Plan, primarily concerned with improving the monitoring, reporting, and verification system for methane emissions and increasing controls in the energy, waste, and agriculture sectors. The plan reinforces global methane exchanges and cooperation through China’s preexisting “Belt and Road” International Green Development Coalition and South-South cooperation on climate change initiatives.

China’s state security chief Chen Yixin concluded a rare 10-day tour of Southeast Asia last week, highlighting Beijing’s push to build security relationships in a key area of geo-strategic competition between the US and China. During his visit, Chen engaged in high-level discussions with national leaders and intelligence officers from Cambodia, Vietnam, and Thailand and reached an “extensive consensus” on security and intelligence cooperation.

6-point summary of what Xi said in San Francisco

1. The Flying Tigers: Xi honored the historic Sino-American alliance, stating, “The Chinese people never forget the Flying Tigers … These stories … will be passed on from generation to generation.”
2. 2911 Bonnie Drive: Recalling his first stay in the United States (at that address), Xi reflected, “They represent America to me … a strong current of goodwill and friendship across the Pacific Ocean.”
3. People-to-People Bonding: Xi stressed strengthening ties, enhancing people-to-people exchanges, increasing direct flights, initiating high-level tourism dialogues, and simplifying visa procedures.
4. Youth Exchanges: Xi announced plans to invite 50,000 young Americans to China for exchange programs over five years.
5. U.S.-China Counternarcotics Cooperation: A new working group will be established to address drug abuse, and Xi expressed, “China sympathizes deeply with the American people, especially the young, for the sufferings that Fentanyl has inflicted upon them.” 
6. Pandas’ Return: Xi committed to panda conservation cooperation, and acknowledged their role as symbols of friendship, notably for Californians and the San Diego Zoo.”

The meeting between Presidents Biden and Xi signifies a notable shift in US-China relations from China’s perspective, with both sides agreeing to cooperate on climate and counternarcotics efforts, as well as restart military dialogue. The meeting comes at a pivotal time in US-China relations as the two leaders seek to reduce friction and forge new areas of cooperation.

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The evening began with the singing of devotional songs, followed by the traditional aarti. Founder and President Sunil Shah, Current President Vinita Gulabani, Founder Member and Past President Onkar Singh Sanga, and Past President Neil Khot addressed the gathered members, thanking them for their contributions to the success of the FIA and its activities during the year.

The event also saw the announcement of the new FIA team for 2024, which will be spearheaded by Incoming President Pratibha Jairath, strongly supported by 100+ members comprising Executive Board Members, Directors, and Advisory Board Members. The team includes Executive Vice Presidents Altaf Bukhari and Anu Malhotra, Vice Presidents Richa Chand, Sonia Luther, Mukesh Shah, Chandini Duvuri, Murugesh Kasilingam, and Jessie Singh, Treasurer Suresh Bodiwala, General Secretary Nilabh Dubey, Joint Treasurer Vaishal Talati, Joint Secretary Falguni Sukhadia, Cultural Secretary Pika Munshi, and Joint Cultural Secretary Priyanka Parekh.

A new Disciplinary Committee was proposed and accepted, with members including Keerthi Reevori, Mukesh Shah, Sunil Shah, Neil Khot, Vinita Gulabani, and Pratibha Jairath. Additionally, a Public Relations and Communications team comprising Abir Maru, Harry Sidhu, Kamlesh Kapoor, and Vijay Muralidaran has been added to the executive committee for the year.

The program also included live entertainment by Swapnil Sahu, Jitendra Bulsara, Payel Ganguly, Pratibha Jairath, and Pinky Thakkar, and dinner catered by India Foodie Lounge. The event concluded with recognition for the achievements of the outgoing team, including a Lifetime Achievement award for Sunil Shah and a Volunteer Award for Neil Khot from the Lions Club under the auspices of the President of the United States of America.

Overall, the event was a great success, and the new FIA team for 2024 is poised to continue the organization’s growth and service to the community.

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WASHINGTON DC: Join the National Women’s Business Council (NWBC) for their in-person public meeting on September 13th at the U.S. National Arboretum in Washington D.C. This meeting will allow Council Members to recap engagements from the past year and deliberate policy recommendations before a public audience. SBA Administrator Guzman will answer the Council’s questions, and the Council will answer yours. To save yourself a seat, be sure to register ASAP.

REGISTER

The National Women’s Business Council (NWBC) is a non-partisan federal advisory committee created to provide advice and policy recommendations to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. To learn more, please visit www.NWBC.gov.

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The conference has been held as part of the 4th G-20 Education Working Group (EdWG) meeting being organized at Savitribai Phule University, Pune from 17th to 22nd June 2023. Sampark Foundation’s participation in the event underscores its commitment to improving foundational skills in literacy and numeracy, crucial for lifelong learning.

With a focus on promoting Foundational Literacy and Numeracy (FLN) in India, the event has provided an opportunity for experts and stakeholders to collaborate and discuss crucial aspects of educational development. Mr. Vineet Nayar, Founder Chairman of Sampark Foundation, was invited by the Ministry of Education to participate as an expert in the field of education, particularly in the domain of Foundational Literacy and Numeracy.

Speaking at the National Conference, Shri Vineet Nayar, Founder Chairman of Sampark Foundation said, “I am honored to be invited as an expert in the field of education and share my views on Foundational Literacy and Numeracy. The topic is close to our hearts for all of us at Sampark and I look forward to sharing this passion in the discussions during the event with other experts and stakeholders and contributing to the ongoing dialogue on educational development.”

Speaking during the discussions, Shri Vineet said, “To ensure lifelong learning and inclusive access to foundational education it is critical to bring about and discuss the virtues of frugal innovation. It has been our experience at Sampark that frugal innovation along with empowering teachers is a must in making a considerable impact on learning outcomes amongst schools in our government schools.  We urgently need to reskill 1 crore of teachers in our government teachers as they directly impact learning in the classroom. This reskilling should be on the right teaching process, training on using structured resources and measuring of learning and usage of resources in the classroom.”

The overall objective of the conference is to reflect on the progress in FLN initiatives with special emphasis on important themes such as Teaching Learning Approaches and Pedagogy for FLN in the context of Multilingualism Capacity building and training of teachers in Blended Mode. The conference is featuring an exhibition showcasing FLN initiatives and digital advancements, which is open for visitors from June 17th to June 22nd, 2023, at the same venue. This exhibition aims to highlight the innovative approaches and digital solutions that contribute to improving foundational learning.

Participants at the event included Principal Secretaries and Secretaries from various states and Union Territories, academicians, teachers, and stakeholders actively involved in the field of Foundational Literacy and Numeracy. Together, they engaged in comprehensive discussions exploring diverse approaches to foundational learning, particularly those aligned with the evolving educational landscape influenced by emerging technologies.

Key themes discussed during the conference centered around identifying and implementing key enablers such as policy frameworks, regulations, and technological advancements to support lifelong learning. The participants emphasized the importance of ensuring inclusivity and universal access to foundational learning for all individuals.

India’s National Education Policy (NEP) 2020 accords the highest priority to Foundational Literacy and Numeracy (FLN) i.e. to ensure that all children in the country can read with comprehension and master basic math skills by Grade 3. To put this priority into action, the National FLN Mission launch was announced in December 2020 as a part of the Prime Minister’s ‘AtmaNirbhar Bharat’ vision. 

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