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.

The post The 169th SLBC Meeting: Unveiling the Annual Credit Plan 2025-26 in Bengaluru’s Vidhana Soudha appeared first on NRI News.

In response to this launch, Sandiip Bhardwaj, COO & CDO of HDFC Securities, remarked, “Our younger investors, especially those aged 18 to 25, represent a dynamic and transformative segment of India’s demographic landscape. While the appeal of online tips and the promise of instant success can be enticing, they must place their trust in reliable research.”

“Navigating the complexities of the stock market requires a comprehensive understanding of market trends, effective risk management, and various strategies. These competencies are best developed through education. Relying on tips can result in misinformed decisions and potentially significant financial setbacks. We strongly encourage our youth to leverage the research recommendations available on HDFC SKY and to enhance their financial knowledge and skills through our learning module, SKY Learn,” he emphasized.

The newly launched Youth Plan, designed for customers under the age of 25, offers an exceptional opportunity for young investors. With no brokerage or account maintenance charges across various segments including equity, derivatives, mutual funds, exchange-traded funds, currency, and commodities, this plan enables young investors to engage in both delivery and intraday trading without incurring extra costs during its first year. Customers can unlock all the features of the Youth Plan for a nominal fee of just Rs. 499 per year.

In addition to the core offerings, users will benefit from exclusive guidance tailored specifically for the youth, provided by our in-house experts. This guidance will include a practical, actionable journey, featuring expert research recommendations to help young and new investors successfully navigate the markets.

As part of our SKY Learn initiative aimed at expanding financial knowledge and skills, HDFC SKY has released a large amount of informative content across formats that will engage with the youth. The content covers a diverse range of topics, including ETFs, MTFs, Derivatives, Stock SIPs, IPOs, Mutual Funds, and more. Additionally, users will benefit from exclusive webinars, instructional videos, valuable learning tools, and complimentary access to expert forums, all at no additional cost. HDFC SKY is committed to providing its users with the resources they need to expand their financial knowledge and confidence.

Key Features of the HDFC SKY’s Youth Plan:

• Zero Brokerage across segments: Investors can invest through Equity, Derivatives, Currency, and Commodities without incurring brokerage charges, facilitating a cost-effective entry into the market.

• Research-Backed Financial Advisory: HDFC SKY provides an opportunity for investors to make decisions backed by research-driven insights from a dedicated team of in-house analysts specializing in both fundamental and technical evaluations for across asset classes.

• Access to Comprehensive Analytical Tools: HDFC SKY offers a suite of analytical tools, including technical charts, historical data, price alerts, and stop-loss recommendations, to guide clients on their investment journeys.

• No-Cost Access to Exchange Traded Funds (ETFs): Investors can invest across a spectrum of ETFs including Equity, Sectoral, Bond, Debt, Gold, International, Index, Commodity, Thematic, and more without brokerage fees for the duration of their association with HDFC SKY. Furthermore, Investors could further benefit from research-backed ETF recommendations on HDFC SKY thereby driving diversification of their portfolio with higher transparency and flexibility.

• Margin Trading Facility (MTF) to attract Zero interest for the first 30 days and 1% Monthly from thereon: The MTF offered by HDFC SKY will enhance the buying power of the youth thus, increasing the potential for higher returns, greater diversification, and improved flexibility in trading and payments.

• User-Friendly Mobile App: Investors can access all HDFC SKY features through a robust and intuitive discount broking platform, enabling seamless investment management from their smartphones.

• Educational Resources: Investors will have access to an extensive array of educational content on SKY Learn, featuring webinars, tutorials, and interactive workshops that cover a range of investment topics covering derivatives, financial planning, initial public offerings (IPOs), trading and investing, personal finance, investment strategies, and more, all aimed at fostering a secured and prosperous future.

• Investment Workshops and Seminars: Regularly scheduled events will focus on market trends, investment strategies, and financial planning, keeping young investors informed and engaged.

HDFC SKY is committed to promoting financial literacy and empowering young investors to take charge of their financial futures. The Youth Plan is now available for sign-up on the HDFC SKY website and mobile app.

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National Preparedness Month outlines specific steps for communities to take to prepare for a disaster and possibly avoid potential economic and physical damage to individuals, small businesses, and their communities.  

“Natural disasters caused by climate change are increasing in frequency and economic impact, and the Biden-Harris Administration is investing in sustainability and committed to helping small businesses and individuals prepare to recover quickly when disaster strikes,” said SBA Administrator Isabella Casillas Guzman. “SBA is helping businesses across the country create emergency response plans so they can limit damage and disruption – building resiliency for our neighborhoods and our economy.”

The SBA recommends three critical steps to build upon the tools of resilience:

Step 1: Assess Risk
Every business has unique vulnerabilities and weaknesses. Knowing what type of disasters will most likely affect your business can help you return to operations faster. A back-to-business self-assessment can help assess risks for common hazards such as hurricanes, wildfires, flooding, or even cyberattacks.

 Step 2: Create a Plan
The response plan is the roadmap to recovery and should be tailored to the business’s specific needs and operations.  It should address immediate priorities and be easy to access.

Every disaster is different. Review the resources to lessen the physical and financial impact of a disaster:

Step 3: Practice and Test Your Plan with Employees

“There are no geographical boundaries for a potential disaster. Climate change only adds to the uncertainty, amplifying the frequency and catastrophe,” said Francisco Sánchez, Jr., Associate Administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “The most important thing small businesses can do to mitigate a disaster’s impact is to have a plan and be prepared. As National Preparedness Month, September is an important reminder that we should always stand ready to protect our homes, businesses, and communities from the challenges that disasters bring.” 

In the past year, the SBA approved more than $2 billion to help residents, renters, private nonprofits, and small businesses across all 50 states and territories recover from the tremendous physical and financial impacts of natural and non-pandemic physical disasters, including multiple hurricanes, floods, and wildfires, all of which have been rising in frequency and severity at significant physical, human, and economic costs.

The SBA’s disaster loan program is the only federal assistance program for businesses of all sizes and can be used to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Additionally, businesses of all sizes are eligible for up to 20 percent of the total physical loss of real estate damages, as verified by SBA, to add protective measures to mitigate future damages against the next event.

If a small business cannot meet its obligations and operating expenses after a disaster, Economic Injury Disaster Loans are available to provide working capital until the small business can resume normal operations. This assistance is available regardless of any property damage.

Questions about disaster loans can be emailed to DisasterCustomerService@sba.gov or directed to SBA’s Customer Service Center at 1-800-659-2955 (7-1-1 for the deaf and hard of hearing). Information on SBA’s core lending programs, revenue growth opportunities, and technical assistance can be found at SBA.gov.

The post SBA Marks National Disaster Preparedness encourages the small Business Community to Prepare Now for the Next Disaster appeared first on NRI News.

ABUJA, NIGERIA: Atlas Petroleum International Limited (Atlas-Oranto.com) is pleased to announce the development of the Venus discovery in Block P, Equatorial Guinea, jointly with its partners Vaalco as Operator, and Guinea Ecuatorial de Petroleós Co. (GEPetrol) as the state-owned oil company of Equatorial Guinea, representing the interests of the state.

This positive result follows the 8 March 2023 Plan of Development (POD) approval from the Government of Equatorial Guinea. The first oil is expected in 2026.

The joint venturers expect to spud the first development well in early 2024, acquire, convert, and install production infrastructure over the next 3 years, and spud an additional development and a water injection well in 2025-26. Venus field activities are expected to add 23.1 million bbl of oil of 2P gross reserves. Based on results from the initial discovery well and reservoir modeling, the partners expect production from the field to reach about 15,000 gross b/d of oil upon completion of the two development wells and injector well.

VAALCO is the operator (60%) of Block P, Atlas holds a 20% participating interest, and GEPetrol has a 20% carried interest. The POD for the discovery was submitted in early March 2023 and swiftly approved by the Ministry of Mines and Hydrocarbons of Equatorial Guinea.

“We are pleased that the development of the Venus discovery can now swiftly proceed, thanks to the Ministry of Mines and Hydrocarbons being a true enabler of investment in the Republic of Equatorial Guinea, Vaalco’s sound technical expertise to develop and monetize the asset, as well as GEPetrol’s crucial role as stewards of the Equatoguinean hydrocarbons sector,” said Prince Arthur Eze, Executive Chairman of Atlas Petroleum. “This POD approval and development is first and foremost a success story for the people of Equatorial Guinea“, Concluded Mr. Eze added.

SOURCE: Atlas Petroleum International Limited

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