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Mumbai, Jan 26 (IANS) Central Depository Services (India) Limited (CDSL), the country’s largest depository has reported a 21.5 per cent surge in year-on-year net profit to Rs 130 crore in the October-December quarter of the current financial year (2024-25), compared to Rs 107 crore in the same quarter of 2023-24.

The total revenue of the country’s largest depository service company for the third quarter went up to Rs 298 crore, from Rs 236 crore in Q3FY24. The company had raked in a revenue of Rs 359 crore in Q2FY25.

CDSL announced that it has become the first depository to register over 14.65 crore demat accounts as of December 31, 2024. During the October-December quarter of the current financial year around 92 lakh new demat accounts were opened.

CDSL is India's leading depository for holding and transacting securities electronically. It also facilitates the settlement of trades on stock exchanges.

In the March-ended quarter of FY24, CDSL registered a record 1.09 crore Demat accounts taking the total number of these accounts past the 11.56 crore mark at the time. The number of Demat accounts in India has been growing steadily, even during periods of market uncertainty. During the fiscal year 2023-24, over 3.26 crore new Demat accounts were opened with the highest quarterly registration.

The growth in Demat accounts is a sign of continued interest from retail investors in the stock market.

A Demat account is a digital account that holds securities like stocks, bonds, mutual funds, and ETFs. It's similar to a bank account, but instead of money, it stores financial securities.

The advantage of a Demat account is that it is secure and reduces the risk of theft or forgery. It is also convenient as one can open a Demat account online and access it through a mobile app or NetBanking.

Besides, Demat accounts enable the electronic transfer of shares, which makes trades faster. They also confer the advantage of consolidating all investments in one place which makes it easier to monitor them.

CDSL was set up in 1999 and plays a crucial role as the Indian Market Infrastructure Institution (MII), facilitating electronic holding and transaction of securities and facilitating settlement of trades. It provides services to a broad spectrum of capital market entities, including depository participants, issuers, investors, RTAs, clearing corporations, and exchanges.

--IANS

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Mumbai, Jan 26 (IANS) The Indian stock market outlook for the next week will be guided by the Union Budget, q3 results and global economic cues such as crude oil price, dollar index and US GDP growth rate data.

The Union Budget 2025 will be presented in Parliament on February 1 by Finance Minister Nirmala Sitharaman.

Companies like ACC, Adani Total Gas, Coal India, Piramal Enterprises, Tata Steel, Hyundai Motor India, JSW Energy, Bajaj Finance and Bajaj Auto will present their third-quarter results of FY25 in the next week.

Last week, the Indian equity market continued its downward trajectory, grappling with persistent technical and fundamental headwinds. Both Nifty and Sensex closed with a decline of 0.5 per cent respectively. This was the third consecutive week when the stock market witnessed a sell-off. The Nifty Realty index fell the most by 9 per cent. However, the Nifty IT index saw a rise of about 3.5 per cent.

Foreign institutional investors (FIIs) sold shares worth Rs 22,504 crore in the cash segment. The FIIs outflows exceeded Rs 69,000 crore so far this month.

Meanwhile, Domestic Institutional Investors (DIIs) stepped in with strong net inflows of Rs 17,577 crore during this period.

Puneet Singhania, director at Master Trust Group said, "Nifty trades below critical support levels, including the horizontal zone and ascending trendline, as well as the 21 EMA (exponential moving average), 55-week EMA, and the 200-day EMA, confirming a downtrend. The resistance zone at 23,350-23,450 continues to cap any upward momentum, signalling strong selling pressure."

Santosh Meena, head of research at Swastika Investmart, said, "Bank Nifty remains a weak segment, trading in a narrow range of 47,800-49,800. A breakout above the psychological level of 50,000 is needed for a significant recovery, with 50,800 and 51,500 as subsequent targets. On the downside, if it slips below 47,800, the next support levels are at 47,000 and 46,500."

--IANS

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New Delhi, Jan 26 (IANS) The Union Finance Ministry has notified the operationalisation of the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for Central government employees with effect from April 1, which will ensure them guaranteed retirement benefits.

“The Unified Pension Scheme shall be applicable to such Central Government employees who are covered under National Pension System and who choose this option under National Pension System,” the Finance Ministry’s notification states.

“Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for operationalising UPS. The effective date for operationalisation of the Unified Pension Scheme shall be 1st April 2025,” it added.

The new system, the Unified Pension Scheme or UPS, will offer 50 per cent of the average basic pay drawn by a Central government employee over the 12 months before retirement provided he or she completes 25 years of service.

Employees who have put in less than 25 years of service but more than 10 years, will get pension on a proportionate basis.

The contours of the scheme were drawn up following discussions held under the joint consultative machinery, a platform that provides a mechanism to Central government staff to resolve differences with the government.

The Union cabinet led by Prime Minister Narendra Modi on August 24, 2024, approved the new pension policy for nearly 2.3 million Central government employees, unveiling a framework that assured 50 per cent of basic pay as monthly payout, on the request of Central government staff unions who had sought guaranteed retirement benefits.

The government had set up a high-level committee headed by cabinet secretary-designate T.V. Somanathan, the then-finance secretary, in April 2023 to rework the current pension system, known as the new pension scheme or NPS. The move followed widespread grievances that had snowballed into a political hot potato, with some states, in which opposition parties were in power, switching to the previous old pension scheme (OPS) which had proved to be a strain on the financial resources of the government.

However, since it was a populist step aimed at catching votes the political parties had made it a poll issue in states such as Himachal Pradesh.

--IANS

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New Delhi, Jan 12 (IANS) India, which achieved a 7.93 per cent reduction in greenhouse gas (GHG) emissions in 2020 compared to 2019, is demonstrating its commitment to a sustainable, climate-resilient future, the government said on Sunday.

The country pledged to achieve net-zero emissions by 2070 at the 26th Conference of the Parties (COP 26) in 2021, said the Ministry of Environment, Forest and Climate Change in a statement.

India’s 4th Biennial Update Report (BUR-4) highlighted a 7.93 per cent reduction in GHG emissions in 2020 compared to 2019. The country submitted BUR-4 to the United Nations Framework Convention on Climate Change (UNFCCC) on December 30, 2024.

“Excluding Land Use, Land-Use Change, and Forestry (LULUCF), India’s emissions were 2,959 million tonnes of CO2e (carbon dioxide equivalent, a way to measure the impact of GHG),” the report mentioned.

Including LULUCF, net emissions were 2,437 million tonnes of CO2e. The energy sector was the largest contributor, accounting for 75.66 per cent of emissions, along with other land use, sequestered approximately 522 million tonnes of CO2, equivalent to reducing 22 per cent of the country’s total emissions.

"These efforts reflect India's commitment to combating climate change while addressing its national circumstances, based on equity and the principles of the Paris Agreement," the ministry emphasised.

India, despite contributing minimally to global warming, faces significant challenges due to its large population and developmental needs. The country is committed to low-carbon development and building climate resilience while addressing its unique circumstances.

India’s historical share of cumulative global GHG emissions is annual 4 per cent, despite having around 17 per cent of the world’s population between 1850 and 2019.

"India’s annual primary energy consumption per capita in 2019 was 28.7 gigajoules (GJ), considerably lower than both developed and developing countries," according to the report.

The country has devised Long-Term Low Greenhouse Gas Emission Development Strategies (LT-LEDS) to chart a sustainable path forward in addressing climate change, which includes low-carbon development of electricity systems consistent with the development of an integrated, efficient, inclusive low-carbon transport system.

It also includes promoting adaptation in urban design, energy and material efficiency in buildings & sustainable urbanisation, promoting economy-wide decoupling of growth from emissions and development of an efficient, innovative low-emission industrial system and enhancing forest and vegetation cover consistent with socio-economic and ecological considerations.

"India is implementing key initiatives like its Long-Term Low Emission Development Strategy and the Miyawaki tree planting at Maha Kumbh 2025. These efforts ensure balanced growth and environmental responsibility, paving the way for a climate-resilient future," said the ministry.

—IANS

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New Delhi, Jan 12 (IANS) Accusing AAP of indulging in illegal activities, former Union Minister Smriti Irani on Sunday said evidence has come to light regarding the creation of fake Aadhaar cards, voter IDs, and PAN cards for illegal Bangladeshi infiltrators in south Delhi's Sangam Vihar area.

She said the illegal activity was being facilitated by AAP MLAs and that the party’s members were deeply involved in this fraudulent operation.

Irani stated that due to the actions of AAP, there has been an unlawful encroachment on the rights of Delhi and the country, which has become a matter of serious concern.

She said complaints about the issuance of fake Aadhaar cards, PAN cards and voter IDs led to the filing of a case at the Sangam Vihar police station in Delhi in December 2024. During the investigation, it was discovered that fake Aadhaar cards were being produced through a shop in Sector 5, Rohini, Delhi.

She said the shop owner revealed that the establishment had been facilitating the creation of Aadhaar cards for illegal infiltrators and Bangladeshis.

The investigation further found that the accused, Ranjeet and his associate, Afroz, were issuing fake birth certificates through an authorised centre, which were then used to generate fraudulent Aadhaar cards, she said.

The former Union minister stated that after the arrest of the accused, Ranjeet and Afroz, the investigation revealed a disturbing truth through the analysis of data from seized laptops.

A total of 26 Aadhaar update forms were found, bearing the signatures and stamps of AAP officials. Among these forms, the stamps and signatures of AAP Rithala MLA Mohinder Goyal and Bawana MLA Jai Bhagwan, were discovered, she said.

During questioning, 15 individuals admitted that they had obtained fake Aadhaar cards and had secured the signatures and stamps of these MLAs on their updated forms, she said.

Additionally, 10 people revealed that they personally went to MLA Goyal's office and had his staff assist them in obtaining the signatures and stamps on their forms, she said.

Irani highlighted that the Delhi Police had served two notices to AAP MLAs and their staff members for investigation, but there has been no response from the Aam Aadmi Party so far.

--IANS

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Guwahati, Jan 12 (IANS) Assam Chief Minister Himanta Biswa Sarma said on Sunday that the Panchayat elections will be held in April.

Sarma told reporters here, “The High Court (Gauhati) has given the permission today to conduct Panchayat elections. However we have lost the time as if we start from today, the elections can be held in mid-February. But we have examinations of class 10 and 12 in the next month and conducting an election at that time will create a lot of troubles for the students in the villages. Moreover, it will be difficult to get halls for counting of votes.”

The CM said that the state administration will look into the possibility of conducting Panchayat elections in April. “The panchayat polls will likely to happen around Bihu in April,” he added.

The High Court had previously ordered that no notification for the Panchayat elections should be issued until January 8. However, the state government has sought reconsideration of this decision, citing concerns over the need to proceed with the elections as planned.

In response, the court has instructed the plaintiffs to submit their replies by Sunday (January 12). Additionally, the court has directed that those copies of the government’s application be served to the parties involved today, ensuring transparency in the legal proceedings.

Chief Minister Himanta Biswa Sarma had earlier announced that the Panchayat elections would be held as per the original schedule. But the administration could not proceed with the notification of polls due to bar from the court. The government requested the court to allow the elections to take place without further legal entanglements, emphasising the need for the polls to proceed in panchayats despite ongoing cases.

The court’s decision follows multiple petitions filed due to discrepancies in the constituency redetermination process. These petitions argue that the elections should be postponed until these errors are rectified.

--IANS

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Dumka, Jan 12 (IANS) The mobile phone of a Rajasthan High Court judge was stolen at the famous Basukinath temple in Jharkhand's Dumka on January 1, despite tight security at the spot, prompting immediate action by the police.

Within days, the case was cracked, leading to the busting of an inter-state gang of mobile thieves and the recovery of eight stolen mobile phones, including the judge's device.

According to Shyamanand Mandal, officer-in-charge of the Jarmundi police station, the theft took place during New Year’s Day at the Basukinath Dham temple, a popular pilgrimage site which attracts thousands of devotees, making it an attractive target for organised theft.

Along with the judge, several other devotees also reported stolen mobile phones. An FIR was promptly registered at the Jarmundi police station, and a special investigation team was formed under senior police officials.

Leveraging technical evidence and intelligence inputs, the team launched a series of raids across multiple locations. The first breakthrough came with the arrest of two suspects from Babupur village in the Teenpahar police station area of Sahibganj district. Their interrogation provided leads that resulted in the arrest of two more gang members from areas near the Bihar-West Bengal-Bangladesh border. In addition to the judge's mobile phone, several other stolen devices were recovered.

The investigation revealed that the arrested thieves were part of a larger inter-state mobile theft network operating out of the Tinpahar area in Sahibganj district. This region has gained notoriety as a hub for mobile theft operations, with multiple gangs running "Pathshalas" (training schools) to train children in pickpocketing and theft techniques.

After completing their training, the children are deployed to crowded places such as temples, markets, and railway stations, both locally and in big cities across the country. These operations are meticulously planned, with gang leaders assigning specific tasks and closely monitoring the young recruits.

The Tinpahar gangs have been implicated in similar incidents in the past, with police records showing that Ranchi police recently apprehended members of a similar gang from the same area.

The arrested individuals were produced in court and subsequently sent to jail. Meanwhile, the police are continuing their investigations to trace other members of the gang and recover additional stolen items.

The theft, which occurred despite the presence of heightened security measures due to the judge's visit, raises serious concerns about the safety of devotees at prominent religious sites. The police have assured the public that measures are being strengthened to prevent such incidents in the future.

--IANS

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New Delhi, Jan 12 (IANS) Prime Minister Narendra Modi addressed a large gathering of the youth at the Viksit Bharat Young Leaders Dialogue on National Youth Day on Sunday. The interaction marked the event with several unprecedented initiatives.

Addressing the young India, PM Modi stressed the significance of setting big goals for India’s development by 2047. He also urged the youth to step out of their comfort zones to achieve these objectives.

The event was remarkable for its many “firsts”. PM Modi spent a remarkable six hours with the young leaders, from 10 a.m. to 4 p.m., engaging in discussions and interactions on various topics and subjects.

The event started off with an exhibition where PM Modi held interactions with the youth and witnessed a range of innovative ideas that showcased their creativity and problem-solving abilities.

During the event, 10 young leaders presented their ideas on diverse topics, including sustainable development, integrating technology with agriculture, and strategies to transform India into a manufacturing and startup hub.

PM Modi shared his insights with the leaders, offering suggestions and urging them to work towards these goals. He emphasised the importance of their contributions in realising a “Viksit Bharat” (Developed India).

Around 3000 young minds from across the country participated in these enriching discussions, providing a platform for open dialogue and idea exchange.

In a unique first, PM Modi also had lunch with the young leaders, engaging in thought-provoking conversations at the lunch table. During the lunch, young girls from the Northeast interacted with the Prime Minister, offering a chance for regional representation and inclusion in the discussions.

The event concluded with PM Modi delivering an inspiring speech, presenting his vision for India’s future and calling on the youth to join the journey towards a prosperous and developed nation. He urged them to become catalysts for change, drawing from the innovative ideas shared throughout the day.

This dialogue not only set a new precedent in youth engagement but also reflected the government’s commitment to empowering the younger generation as leaders of the future.

--IANS

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New Delhi, Jan 12 (IANS) Underscoring the role of youth in shaping the nation's future, Prime Minister Narendra Modi on Sunday asked them to step out of their comfort zones and embrace risks to achieve the vision of a 'Viksit Bharat' by 2047.

Addressing 3,000 young leaders on the occasion of National Youth Day, commemorating the birth anniversary of Swami Vivekananda, PM Modi said while the goal of Viksit Bharat is significant, it is not impossible, dispelling the views of naysayers.

“With the collective efforts of millions of young people driving the wheels of progress, the nation will undoubtedly reach its target,” he said.

PM Modi warned against complacency, urging the youth to step out of their comfort zones.

"We must avoid getting used to our comfort zone. Comfort zones can be dangerous. Progress requires taking risks and pushing boundaries. The youth participating in this dialogue have already demonstrated this by stepping out of their comfort zones to be here. This life mantra will take you to new heights of success," PM Modi said.

"Many of the world's largest companies are being run by Indian youth. The entire world admires the potential of Indian youth. We have a 25-year golden period, an Amrit Kaal, and I am fully confident that India's Yuva Shakti will make India a developed nation," he said.

"Achieving big goals is not solely the responsibility of government machinery but requires the collective effort of every citizen," PM Modi said, highlighting the importance of deliberation, direction, and ownership in achieving national objectives.

The Prime Minister remarked that the Viksit Bharat Young Leaders Dialogue exemplifies this process, led by the youth who participated in quizzes, essay competitions, and presentations.

He commended the youth for their expansive thinking and active participation in discussions with experts, ministers, and policymakers.

The Prime Minister announced that the ideas and suggestions from the Young Leaders Dialogue will now become part of national policies, guiding the country's development.

He congratulated the youth and reiterated his commitment to bringing one lakh new young people into politics, encouraging them to participate actively in implementing their suggestions.

PM Modi praised the achievements of the younger generation over the past decade, stating: "In just 10 years, you have propelled India to become one of the top three startup ecosystems globally, advanced India in the manufacturing sector, popularised the Digital India initiative worldwide, and made significant strides in sports. If India's youth can make the impossible possible, they will undoubtedly make Viksit Bharat a reality."

The Prime Minister reaffirmed the government's commitment to empowering youth, emphasising efforts to expand educational infrastructure.

"Every week, a new university is being established in India. Every day, a new ITI is being set up. Every third day, a new Atal Tinkering Lab is being opened. Additionally, two new colleges are being established daily. Today, there are 23 IITs in the country. In just one decade, the number of IIITs has increased from nine to 25, while the number of IIMs has risen from 13 to 21. The number of AIIMS has tripled, and medical colleges have nearly doubled," he said.

He also pointed to the growing global recognition of India's educational institutions.

Highlighting that India is now nearly a $4 trillion economy, the Prime Minister said that the current infrastructure budget is over Rs 11 lakh crore, nearly six times higher than a decade ago, and more is being spent on railways alone than the entire infrastructure budget of 2014.

He noted that this increased budget is evident in India's changing landscape, with Bharat Mandapam being a beautiful example.

“India is rapidly moving towards becoming a $5 trillion economy, which will greatly expand development and facilities,” said PM Modi.

Expressing confidence that by the end of the next decade India will surpass the $10 trillion economy mark, PM Modi said that the young generation will not only drive the greatest transformation in the country's history but also be its biggest beneficiary.

--IANS

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