Page 14 - Banking Finance July 2022

ROUNDUP

ing on hydroponically grown, residue- erated parcel van in Bengal for the banknotes among Indians. On the
free and chemical-free produce, has benefit of farmers. For this, we will do other hand, Rs 2,000 notes have been
attracted $5 million as pre-series seed a feasibility study before the commis- consistently falling in circulation. For
funding. sioning of this train." coins, Rs 5 coins are the most prefered
coins. Whereas, Rs 1 coins are the least
The company is supplying its products Some vegetable growers and fisher-
liked.
to over 100-plus B2B (business to busi- men while speaking to beneficiaries of
ness) aggregators in the Indian market various PM welfare schemes urged the According to the data in the report, Rs
and to modern trade aggregators and minister to run 'Kisan Special' trains so 2,000 notes in circulation have fallen
delivery partners like Nature's Basket, that they can transport perishable pro- from 17.3 per cent to 13.8 per cent.
Big Basket, Swiggy, Kissan Konnect and duces beyond the border of Bengal Notably, the RBI has not printed any
Zomato Hyperpure. without worrying about their shelf life. new Rs 2,000 notes since 2018-19.
These notes now account for only 1.6
The funding is led by Theodore Cleary "The feasibility study which will be
per cent of the total currency notes in
(Archer Investments), Sandiip done in two months is to understand
circulation. The report also stated that
Bhammer (managing partner - Green whether fish, crabs and prawns can be
Rs 500 notes are being circulated the
Frontier Capital), Sky Kurtz (CEO & co- transported in such parcel vans," the
most in the Indian economy.
founder of Pure Harvest UAE), minister added.
Mathew Cyriac (Florintree Advisors &
'PM cares for children'
ex MD of Blackstone India), Soumitra Fiscal deficit improves to
Dutta (Dean elect - Said Business benefits
6.7% in FY22 on higher tax
School, University of Oxford ), Shaishav Prime Minister Narendra Modi will re-
Dharia (regional CEO, Lodha Group), collection lease benefits under the PM CARES for
among others, for setting up India's The fiscal deficit for 2021-22 worked children scheme.
largest soil-less farms. out to be 6.71 per cent of the gross
"At 10:30 AM tomorrow, 30th May
The funding will be used to scale up domestic product (GDP), lower than would be releasing benefits under the
farm operations, implement complete 6.9 per cent projected by the Finance PM CARES for children scheme.
Ministry in the revised Budget Esti-
traceability and transparency of pro- Through this effort, we are supporting
mates, according to government data
duce, marketing and creation of an those who lost their parents to COVID-
integrated Farm-tech platform. The released. 19," tweeted PM Modi.
startup was co-founded by two Unveiling the revenue-expenditure
Prime Minister will transfer scholar-
Agripreneurs - Sanket Mehta and data of the Union government for
ships to school going children. A pass-
Ganesh Nikam. 2020-21, the Controller General of
book of PM CARES for Children, and
Accounts (CGA) said that the fiscal defi-
health card under Ayushman Bharat -
Railways mulls 'farmer cit in the absolute terms was Rs Pradhan Mantri Jan Arogya Yojana will
15,86,537 crore (provisional). be handed over to the children during
special' trains with refrig-
The revenue deficit at the end of 2021- the programme, the Prime Minister's
erated vans 22 was 4.37 per cent. Office said.

The ministry of railways is planning to
PM CARES for Children Scheme was
run 'Kisan Special' train in the state with
Rs. 2,000 are 'least pre- launched by the Prime Minister on May
refrigerated parcel vans for transport- 29, 2021 to support children who have
ferred'; notes in circula-
ing perishable agricultural and farm
lost both the parents or legal guardian
produces for the benefit of farmers. tion dips or adoptive parents or surviving parent
Speaking at an event, Union railway RBI recently released its Annual Re- to COVID-19 pandemic, during the
minister Ashwini Vaishnaw said: "We port 2021-22. According to the data, period from March 11, 2020 to Febru-
are seriously thinking of running refrig- Rs 100 notes are the most preferred ary 28, 2022.

14 | 2022 | JULY | BANKING FINANCE