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April 10, 2023
UGC (India) directs all Higher Education Institutions to implement the National Credit Framework.
New Delhi, India, April 10, 2023 — The University Grants Commission (UGC) has issued a Public Notice asking all Higher Education institutions to take steps to implement the National Credit Framework.
(Communicated to the UGC in March 2022)
• Efficient and Seamless Mobility of Credits between Institutions
The proposed Transformation of Higher Education Institutions (HEIs) into Multidisciplinary Institutions by the UGC hinges on one critical common factor: Efficient and Seamless Mobility of Credits between Institutions. Therefore, paying special attention to the operation and utilization of the Academic Bank of Credits (ABC) platform and the Digilocker Framework under which it works is essential. Thus, an HEI may not be authorized to transform into a Multidisciplinary Institution unless —
(a) It has joined the Academic Bank of Credits (ABC).(b) Its administration has constituted a separate section that looks after its Academic Bank of Credits (ABC) and Digilocker affairs.
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Source: UGC
|GlobalGiants.Com|
Edited & Posted by the Editor | 10:14 AM | View the original post
International Monetary Fund (IMF) is hosting the 2023 Spring Meetings in Washington, DC, from April 10 to April 16
Photo: IMF economists participate in a Capacity Development Talk titled “Digital Money: Building Capacity for a Virtuous Circle” moderated by Eva-Maria Graf at the International Monetary Fund Headquarters, Washington, DC. April 11, 2022. IMF Photo/Cory Hancock. (File Photo)
Photo: IMF Managing Director Kristalina Georgieva participates in a meeting at the Global Center on Adaptation, Rotterdam, Netherlands. September 5, 2022. IMF Photo/Eric Kampherbeek. (File Photo)
Washington, DC, April 08, 2023 — The IMF is preparing to host thousands of delegates and media at the 2023 Spring Meetings in Washington, DC.
In her Spring Meetings Curtain Raiser speech, the Managing Director of the IMF, Kristalina Georgieva, said that despite surprisingly resilient labor markets, strong consumer demand, and the uplift in China, the world economy might grow less than 3% this year. However, to brighten growth prospects, three themes that need to be addressed are fighting inflation and safeguarding financial stability, improving medium-term opportunities for growth, and fostering solidarity to reduce global disparities.
“Central banks should continue to use interest rates to fight inflation while using financial policies to ensure financial stability,” said Georgieva, speaking to a packed room of diplomats at Meridian International Center in Washington.
On fostering solidarity to reduce global disparities, Georgieva said that the IMF had provided nearly $300 billion in new financing for 96 countries since the start of the Covid pandemic.
The IMF and World Bank will jointly host the meetings of the world’s finance ministers, central bankers, civil society organizations, parliamentarians, and nearly 600 journalists.
The 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) will occur from Monday, April 10 to Sunday, April 16, in the WBG and IMF headquarters in Washington, DC.
Source: IMF
|GlobalGiants.Com|
— The editor holds IMF Washington DC’s distinguished Academic Certificate in Financial Market Analysis.
Edited & Posted by the Editor | 7:37 AM | View the original post
Finance Minister of India, Nirmala Sitharaman, is officially visiting the USA to attend the Spring Annual IMF & World Bank Meetings.
India’s Finance Minister will also participate in G20 Finance Ministers & Central Bank Governors meetings besides Investor and bilateral meetings with many countries.
Photo: The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman in virtual conversation with Ms. Kristalina Georgieva, MD, IMF, in February 2023 concerning G20 India. (File Photo)
New Delhi, April 09, 2023 — Union Minister for Finance & Corporate Affairs, Mrs. Nirmala Sitharaman, will be embarking on an official visit to the USA beginning April 10, 2023. During the visit, Smt. Sitharaman will attend the 2023 Spring World Bank Group (WBG) and the International Monetary Fund (IMF) meetings. In addition, she will also participate in the G20, Investor, and Bilateral meetings scheduled from April 10 to April 16, 2023, in the WBG and IMF Headquarters in Washington, DC.
Finance Ministers and Central Bankers worldwide will attend IMF Spring Meetings.
• Engagements of the Finance Minister will include the following:
- Spring Meetings of IMF-WB;
- Hosting the Second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India’s G20 Presidency and G20-related side events;
- World Bank Development Committee and IMF Committee Plenaries Interaction with Global Economists and Think-Tanks,
- Bilateral engagements with countries and international organizations;
- Interaction with global business leaders and investors in roundtables; and Engagement with Indian Diaspora.
- Finance Minister Smt. Sitharaman and the Governor Reserve Bank of India (RBI), Shri Shaktikanta Das, will jointly chair the 2nd G20 FMCBG meeting on April 12-13, 2023.
- Around 350 delegates from G20 members, 13 invitee countries, and various international and regional organizations will participate in multilateral discussions around a broad spectrum of pressing global issues.
• The 2nd G20 Finance Ministers & Central Bank Governors meeting will comprise three sessions:
- Global Economy and International Financial Architecture;
- Sustainable Finance, Financial Sector, and Financial Inclusion;
- International Taxation
These sessions will focus on issues such as addressing food & energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilizing finance for climate action, advancing financial inclusion, and accelerating progress on International Tax and Financial Sector issues. In addition, the meeting will take stock of the progress made on outcomes envisaged under India’s G20 Finance Track agenda.
On the sidelines of the Spring Annual Meetings, the Finance Minister will have bilateral engagements with her counterparts from G20 countries and Heads of other delegations, including major international organizations, to discuss issues and areas of mutual interest and cooperation under India’s G20 Presidency.
During her visit, the Union Finance Minister will also participate in a fireside chat at the Peterson Institute of International Economics (PIIE) on April 10, 2023.
In a high-level meeting on April 11, 2023, the Finance Minister will meet the US Treasury Secretary, Ms. Janet Yellen, to discuss issues of mutual interest.
India, International Monetary Fund, and the World Bank will co-chair a meeting of the Global Sovereign Debt Roundtable on April 12, 2023, to discuss the current global debt landscape and ways to address existing challenges in debt restructuring. On April 14, 2023, a high-level seminar on “Macro-financial implications of Crypto assets” will be held to review the macro-financial implications of Crypto Assets and discuss policies to leverage benefits and contain risks. Smt. Sitharaman will also meet the G20 Expert Group on strengthening Multilateral Development Banks (MDBs) on April 15, 2023, to discuss the need for an updated MDBs ecosystem for the 21st century towards financing sustainable development goals and transboundary challenges.
Besides these, the Finance Minister will also participate in a high-level Seminar on ‘Stacking up the benefits of Digital Public Infrastructure (DPI)’ organized by the IMF on April 14, 2023. The Seminar aims to discuss lessons from India and other countries on the transformational power of DPI and ways to maximize its potential.
Other side events on the margins of the IMF-WB Spring Meetings include an event on ‘Enhancing the Economic Empowerment of Women as Entrepreneurs and Leaders’ (April 13, 2023) and ‘LiFE (Lifestyle for Environment) event on Behavioral Change to Tackle Climate Change’ (April 14, 2023), among others.
Source: Ministry of Finance, Government of India
|GlobalGiants.Com|
Edited & Posted by the Editor | 12:22 AM | View the original post
