Centre firm on withdrawing Indira, Rajiv stamps

Amid a war of words between the Congress and the BJP over the government’s decision to discontinue postage stamps featuring the former Prime Ministers Indira Gandhi and Rajiv Gandhi, Union Minister Ravi Shankar Prasad said on Wednesday that there was no question of reconsidering the move.

He said stamps should not focus on just one family but honour everyone who contributed to the making of India. “Our government respects the contribution of all and wants to give them due respect. Based on the advice of the Philatelic Advisory Committee, it was decided to issue a definitive series of stamps to represent the diversity of India. Earlier, in the definitive stamp series, the focus was on the family.” Mr. Prasad told presspersons. The revised list will honour Mahatma Gandhi, Jawaharlal Nehru, Sardar Patel, Maulana Azad, Subhas Chandra Bose, Dr. Rajendra Prasad, Jayaprakash Narayan, Bhagat Singh, Deen Dayal Upadhyay, Syama Prasad Mookerjee, Ram Mahohar Lohia, Vivekananda, Rabindranath Tagore, Bal Gangadhar Tilak, Maharana Pratap, Shivaji, Mother Teresa and others.

50 days more of MGNREGS work for the drought-hit

The Union Cabinet gave ex post facto approval on Wednesday to provide an additional 50 days of work to Mahatma Gandhi National Rural Employment Guarantee Scheme beneficiaries during the current financial year wherever drought or natural calamities have been notified. The scheme guarantees 100 days of work.

G4 leaders plan summit meet

Leaders of Japan, Germany, Brazil and India � the G4 that wants expansion of the U.N. Security Council and permanent seats for themselves � are exploring the possibility of a summit meeting in New York in the last week of September, on the sidelines of the U.N. General Assembly (UNGA).

RBI allows 10 companies to set up small finance banks

The Reserve Bank of India (RBI) has granted ‘in-principle’ approval for 10 companies to set up small finance banks.

The approval will be valid for 18 months to enable the applicants to comply with the requirements.

The firms include Au Financiers (India) Ltd., Jaipur, Capital Local Area Bank Ltd., Jalandhar, Disha Microfin Pvt., Ahmedabad and Utkarsh Micro Finance Pvt. Varanasi, Equitas Holdings Pvt., Chennai, ESAF Microfinance and Investments Pvt., Chennai, Janalakshmi Financial Services Pvt., Bengaluru and Ujjivan Financial Services Pvt., Bengaluru.The RBI also granted permission for RGVN (North East) and Microfinance Ltd., Guwahati, and the Navi Mumbai-based Suryoday Micro Finance Pvt.

Sony, BBC join hands set up Sony BBC Earth

Multi Screen Media Private Ltd, part of Sony Corporation, entered into a joint venture with BBC Worldwide to set up Sony BBC Earth, a new premium factual channel in India.

Sony BBC Earth will combine information and entertainment in real surroundings and would cater to Indian audiences looking for thrill and adventure of exploring natural environments.

BBC Earth is home to the BBC’s award-winning factual programmes and the work of some of the world’s foremost factual film makers.

India ranks 34th in business growth environment: Thornton

India ranked 34th among 60 leading economies in terms of ‘business growth environment’ but the country ranked among the bottom ten when it comes to ‘business operating environment’, says a report.

In the Grant Thornton Global Dynamism Index (GDI), which ranks business growth environment of 60 leading economies, India was ranked at the 34th place, registering a gain of 14 places, since the last version of the index, largely driven by a strong and productive workforce.

However, India ranked 53rd out of 60 in the GDI when it comes to its business operating environment, the report said, adding that “a poor regulatory environment and a lack of investment in science and technology dragged down India’s overall ranking.”