Centre extends deadline for revised Schedule M implementation for small, medium pharmas
Mysuru: The Union govt has extended the deadline for implementing the revised Schedule M–Good Manufacturing Practices (GMP)–for small and medium pharmaceutical enterprises (SMEs) with an annual turnover of Rs 250 crore or less, until the end of this year, said Khalid Ahmed Khan, deputy drug controller and president of the Indian Pharmaceutical Association (IPA), Karnataka state branch.
He was speaking at the inauguration of a national conference on 'Enhancing Pharmaceutical Quality Assurance through Good Manufacturing Practices (GMP)' and a special session on the Revamped Pharmaceutical Technology Upgradation Assistance Scheme. The event was organised by the PHD Chamber of Commerce and Industry (PHDCCI) health committee in association with the department of pharmaceuticals, Union ministry of chemicals and fertilizers, JSS Academy of Higher Education and Research (JSS AHER) and the IPA Mysuru branch, at the JSS College of Pharmacy on Wednesday.
Khan noted that due to the financial burden involved in implementing the revised quality framework, MSME firms were granted time until Dec 2025 to comply. "Firms with turnover above Rs 250 crore, as well as all newly established plants, are required to adopt the revised Schedule M immediately. These guidelines are aligned with WHO and international standards and emphasise total quality management and robust pharmaceutical systems," he added.
Khan stressed the importance of leadership and a quality-driven mindset in the pharmaceutical sector. "Even if you're not in a leadership position, you can influence those who are. Without quality, neither the industry nor its workforce can sustain," he said.
Dr H Basavana Gowdappa, VC, JSS AHER, commended the department of pharmaceuticals for launching the RPTUAS and urged the industry to treat GMP not as a regulation but a fundamental responsibility.
Amaresh Tumbagi, former drug controller of Karnataka, outlined the inspection mechanisms under the revised Schedule M and how regulatory processes have evolved. Dr Pramod Kumar TM, principal, JSS College of Pharmacy, provided insights into current industry regulations and compliance requirements. Jatin Nagpal, joint secretary, PHDCCI, Dharmendra Kumar Yadav, under secretary, department of pharmaceuticals, Yashwant Shinde, manager, SIDBI and Dr Savitha RS, secretary, IPA Mysuru local branch were also present.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
23 minutes ago
- Time of India
Unified pension scheme revised: Central employees to receive OPS-like gratuity; Rs 10k minimum pension
Representative image NEW DELHI: All Central government employees covered under the Unified Pension Scheme (UPS) will receive retirement and death gratuity benefits similar to the Old Pension Scheme (OPS), Union minister of state for personnel Jitendra Singh said on Wednesday. The inclusion of death-cum-retirement gratuity in UPS, a long-pending demand of a large section of Central government staffers, is expected to encourage many covered under National Pension System (NPS) to opt for it. Singh, who was addressing a press conference in Delhi on the 'transformational' journey of ministry of personnel, public grievances and pensions over the last 11 years, said the assured payout under UPS 'reflects the government's commitment to ensure social security for all categories of employees under the NPS'. The department of financial services had notified UPS on January 24, 2025, with the aim of providing Central government employees covered under NPS, a guaranteed pension similar to OPS but with a contribution model like NPS. Employees covered under NPS can switch to UPS, ensuring broader pension coverage. The scheme guarantees a pension amount of 50 per cent of the average basic salary earned over 12 months before retirement for those with at least 25 years of service. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Additionally, employees with a minimum of 10 years of service are entitled to a minimum pension of Rs 10,000 per month upon superannuation. In the event of the pensioner's death, their family will receive 60 per cent of the last pension drawn. Employees contribute 10% of their basic salary and DA, while the government contributes 18.5 per cent, a higher share than 14 per cent under NPS. An order issued by the department of pensions and pensioners' welfare (DoPPW) on Wednesday clarified that central government employees covered under the UPS shall also be eligible for the benefit of retirement gratuity and death gratuity under the provisions of the Central Civil Service (Payment of Gratuity under National Pension System) Rules, 2021. A second order specified options to avail benefits under OPS on death of a government servant covered under UPS, during service or his discharge from service on account of invalidation or disability. 'The order gives an option to revert to OPS in case of death in service. It is progressive in nature and addresses the clarifications being sought by employees,' DoPPW Secretary V Srinivas said, adding that 'UPS pensioners will be eligible for Rs 25 lakh gratuity also'. President of the All India NPS Employees Federation, Manjeet Singh Patel, welcomed the order, saying that the inclusion of death-cum-retirement gratuity in UPS will remove all the misconceptions of the employees and encourage them to opt for UPS, said PTI. In the case of the death of a government servant while in service, the last option exercised by the deceased employee before his death shall be treated as final, and the family shall have no right to revise the option.
Time of India
35 minutes ago
- Time of India
ESAF Small Finance Bank shares soar 11% after board approves Rs 735-crore bad loan sale to ARC
ESAF Small Finance Bank shares jumped following the board's approval to sell non-performing loans to an asset reconstruction company. The bank also partnered with Maruti Suzuki India. This collaboration aims to provide retail financing solutions for vehicles. The partnership targets first-time buyers in tier-II and tier-III cities. Technical indicators show the stock is neither overbought nor oversold. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Technical indicators: Shares of ESAF Small Finance Bank soared 11.3% to an intraday high of Rs 33.83 on BSE on Thursday, after the Thrissur-based lender announced that its board has approved the sale of a pool of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC).The pool comprises Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off accounts. The bank noted that it has provisioning coverage of 90.15% against the total board has authorised the Asset Sale Committee of Executives to carry out the necessary formalities to complete the transaction. The name of the ARC and specific terms of the sale were not ESAF Small Finance Bank has entered into a partnership with Maruti Suzuki India to offer retail financing solutions for new cars, used cars, and commercial two companies signed a memorandum of understanding (MoU) to provide flexible and accessible financing options, especially targeting first-time buyers. The partnership will leverage the combined networks of ESAF SFB and Maruti Suzuki across tier-II and tier-III cities to enhance vehicle ownership opportunities for a wider customer base, according to a company Relative Strength Index (RSI) stands at 43.8, indicating that the stock is neither overbought nor oversold. The MACD is at 0.7, remaining above the center line but below the signal line. The stock is currently trading below its 10-day, 20-day, and 200-day simple moving averages, while staying above the 50-day and 100-day SMAs. ESAF Small Finance Bank shares have gained approximately 13.5% over the past three months but have declined 43% over the past 12 months. The company's market capitalisation currently stands at around Rs 1,566.9 crore.
Time of India
35 minutes ago
- Time of India
Add Tata Motors, target price Rs 775: ICICI Securities
ICICI Securities has maintained the Add call on Tata Motors . with an unchanged target price of Rs 775.0. The current market price of Tata Motors Ltd. is Rs 678.85 . Jaguar Land Rover (JLR) revised its FY26 EBIT margin guidance from 10% previously to a range of 5-7% now also lower vs. the 8.5% margin delivered in FY25. In the near to medium term, the company is facing challenges including currency volatility, elevated capex (GBP 3.8bn in FY26 vs GBP 3.2bn in FY25), higher working capital requirement and product transition related costs. In FY26, the company expects its FCF to decline to near-zero, compared to GBP 1.5bn in FY25, with improvement in FY27 and FY28 based on new model ramp up. Investment Rationale Jaguar Land Rover hosted its Investor Day on 16 Jun?25. The company guided for 5-7% EBIT margin for FY26 (vs.8.5% in FY25). In the US, the company is taking measures including reallocating vehicles to more accessible markets and pricing actions, to help counter the impact from tariffs. We expect near-term performance in JLR to be strained amid US tariff-related uncertainties, and weak demand trends in China. JLR expects its FCF to decline to near-zero in FY26 (compared to GBP 1.5bn in FY25), before improving YoY in FY27 and FY28, as the new models ramp up. For its domestic business, Tata Motors is focusing on regaining growth momentum via new launches and on margin expansion. ICICI Securities maintains ADD with an SoTP-based target price of Rs 775 (unchanged), implying 11x/2x FY27E India/JLR EV/EBITDA.
