Latest news with #ruraldevelopment
Entrepreneur
17 hours ago
- Business
- Entrepreneur
Samunnati Raises INR 50 Cr via Wintwealth to Boost Agri Value Chain
The fresh funds will be deployed toward strengthening Samunnati's ecosystem—providing working capital to farmer producer organisations (FPOs), enhancing inclusive agri-supply chains, and supporting rural enterprises. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Samunnati, a leading agri-value chain enabler, has raised INR 50 crore through non-convertible debentures (NCDs) on the Wintwealth platform, marking a significant step in its mission to empower smallholder farmers. This brings the total capital raised via Wintwealth to INR 160 crore, reinforcing the growing trust between retail investors and agri-financing innovation. The INR 50 crore infusion will be deployed toward strengthening Samunnati's ecosystem—providing working capital to farmer producer organisations (FPOs), enhancing inclusive agri-supply chains, and supporting rural enterprises. This aligns with Samunnati's broader goal of making markets work for smallholder farmers through scalable, tech-enabled, and financially inclusive models. "Our journey with Wintwealth has not just been about raising capital—it's about building trust, access, and opportunity," said Anil Kumar SG, Founder and CEO of Samunnati. "This partnership opens new doors for capital to flow where it's most needed. As we gear up for an INR 300 crore raise, our focus remains on impact at scale across the agricultural value chain." Founded in 2014 by Anil Kumar SG and headquartered in Chennai, Samunnati is a pioneering agritech enterprise offering a unique blend of financial and non-financial services. Its offerings include customised loans for agri enterprises, capacity building for FPOs, market linkage solutions, and technology-driven platforms that promote transparency and traceability in agricultural transactions. Samunnati's innovative approach is not only transforming the way capital reaches rural India but also redefining agriculture as a viable, investable opportunity. With SEBI's reforms enabling retail investment in listed bonds starting from INR 10,000, this fundraising marks a democratisation of agri-finance. "Samunnati's listed bonds have seen a strong response," noted Anshul Gupta, Co-founder of Wintwealth. "Retail investors are now crucial enablers of India's agricultural transformation." Samunnati's earlier registration of a Green Bond on BSE further established it as a pioneer in sustainable agri-finance. As Indian agriculture embraces innovation, Samunnati continues to catalyse systemic change—fostering an inclusive, tech-driven, and financially empowered rural economy.
Malay Mail
3 days ago
- Business
- Malay Mail
Sarawak's RM6.8b rural budget boost to bridge urban-rural gap, says Uggah
KUCHING, May 31 — The increase in rural development allocation for this year's Sarawak budget is a reflection of the state government's unwavering resolve to narrow the rural–urban gap and ensure equitable growth. Deputy Premier Datuk Amar Douglas Uggah Embas recently said RM6.8 billion had been allocated under the Sarawak 2025 Budget for rural development, which rose from RM5.695 billion in 2024, indicating the State Premier Tan Sri Abang Johari Tun Openg's clear commitment to uplift the wellbeing of the rural communities. In his message for the Gawai Dayak festival, which begins tomorrow, Uggah said the rural development focus has seen major bridge projects being implemented as growth catalysts. 'Five (bridges) have already been completed, including the Batang Saribas 1 Bridge in Pusa, Betong and others such as the iconic Bintulu Jepak, Muara Lassa, Marudi and Batang Rajang bridges. 'Six more, including the nation's longest river bridge — Batang Lupar 1 — are expected to be completed by year-end,' said Uggah, who is also the State Minister of Infrastructure and Port Development. He said that Gawai Dayak should be accepted as a festival to bridge inter-racial relationships in Sarawak, which has been a pertinent essence for the state to continue progressing. 'Just as bridges connect our cities and villages, this Gawai season should also serve as a 'bridge' to strengthen the bond of friendship, unity and harmony among us all. Let us celebrate our diversity under the spirit of 'Segulai Sejalai' or Together in Unity,' he added. — Bernama
Zawya
7 days ago
- Business
- Zawya
Nigeria: RAMP, Otti pays $2mln for roads upgrade, agro logistics hubs in Abia
In demonstration of his commitment to the development of the rural communities, Governor Alex Otti of Abia State has paid a counterpart fund of N3.5 billion as requirement for the upgrade of roads and setting up agro logistics hubs in about 10 local government areas of the state under the Rural Access and Agricultural Marketing Program (RAMP). The Commissioner for Information Prince Okey Kanu disclosed this at Government House Umuahia, Monday, while briefing newsmen on the outcome of this week's expanded State Executive Council meeting presided over by Governor Alex Otti, stating that the projects are expected to commence across the benefitting LGAs soonest. 'So the state has paid its own counterpart funds and we expect that with a similar action from the World Bank, that project will kick off around the state,' he said. Kanu noted that in line with the announcement made by the Governor during the interdenominational thanksgiving service on roads upgrade and other project commissioning, the Governor would Tuesday commission one out of the 20 smart schools already completed in Umuahia. The information Commissioner further announced that the governor during a joint anniversary State Executive Council meeting of the executive and legislative arms of government, signed into law 18 executive bills recently passed by the 8th Abia State House of Assembly. According to the information Commissioner, the newly signed 18 bills bring to 30 the total number of executive bills introduced and signed into law by the administration of Governor Alex Otti, stating 'This landmark achievement seeks to institutionalise the reforms and transformations that have so far taken place in Abia State.' He noted that the 2 years administration of Governor Alex Otti has been full of monumental achievements as can be felt and touched by all and sundry, assuring that greater strides lie ahead, adding that in the light of the second anniversary celebrations, more activities have been lined up for the rest of the week and they will be holding in the next couple of days starting from Tuesday. Contributing, the Attorney General and Commissioner for Justice, Barr. Ikechukwu Uwanna said that the laws signed would transform the landscape of governance in the state, adding that they underscore government's commitment to institutionalizing the reforms and changes being brought into governance. 'However, it's important to note that these bills underscore His Excellency's commitment to institutionalizing the reforms and changes that he's bringing together in governance in the state. 'These bills also form the fulcrum, the engine block for all the roads that you see, for the infrastructural development that is going on across the state, for the massive reforms that are being carried all around the state. So that underscores the importance of these bills that have now been passed into law,' Barr. Uwanna stated. Uwanna further revealed that with the 18 laws , some agencies have been moved from reporting directly to the office of the Governor to their line ministries for optimal performance. Also speaking, the commissioner for poverty alleviation and social protection, Mrs Ngozi Blessing Felix said Governor Otti has through payment of the counterpart fund demonstrated once again commitment to the development of rural communities through investing in long term solutions. 'Recently, His Excellency has demonstrated once again his commitment to the development of our rural communities by investing in long-term solutions as regards road infrastructure under the Abia States Rural Access and Agricultural Marketing Project. 'He recently approved the payment of the counterpart fund to the tune of 3.5 billion Naira, which is a key requirement for all states who are participating on the rural access project. Abia is one of the states,' Felix stated.
Time of India
25-05-2025
- Politics
- Time of India
HC asks for details of convicted public servants in service
Madurai: Taking a serious view of the fact that a woman convicted in a disproportionate assets case was allowed to continue in govt service, Madras high court directed the chief secretary and additional chief secretary/vigilance commissioner to furnish details of the convicted public servants in service, irrespective of rank. Justice K K Ramakrishnan directed that the report on the action taken against them under 17(c)(i)(1) of the Tamil Nadu Civil Service (Discipline and Appeal) Rules, 1955, be submitted in a month. Allowing the convicted public servant to continue in govt service is not only deplorable but also shows apathy on the part of the state govt, the court said. "Rule 17(c)(i)(1) of the Tamil Nadu Civil Service (Discipline and Appeal) Rules contemplates that an employee who is convicted by the competent court of law shall be dismissed from service without any further enquiry. In this case, the petitioner was convicted and sentenced to undergo imprisonment. It is shocking to the conscience of the court that no appropriate action is taken against the public servant who was convicted under the Prevention of Corruption Act, and no order of punishment was passed under the said Rules," observed Justice Ramakrishnan. Petitioner J Amala Jessi Jacquillin joined as an assistant engineer in the rural development and panchayat raj department in 1998 and was promoted as assistant executive engineer, Tuticorin sub-division. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Alerta: Você tem zumbido no ouvido? Dica de ouro pode aliviar! Zumbido no ouvido Undo In Sept 2020, disciplinary proceedings were initiated against her following registration of a case for offences under Prevention of Corruption Act. She was accused of accumulating disproportionate assets to the tune of Rs25.40 lakh in her name and her husband's name between Dec 1, 1999, and Mar 31, 2009. The trial court convicted and sentenced her to three years of rigorous imprisonment. Subsequently, the HC granted her interim suspension of sentence. In 2022, another charge memo was issued to her. While the proceedings were pending, a promotion list was published without her name, challenging which she filed the present petition. The judge observed that the petitioner has no right to continue in employment as she was convicted in a disproportionate assets case in 2024. However, she managed to work in the department. The HC had only suspended the petitioner's sentence. Two charge memos are pending against her. The relief sought in the petition is misconceived, and the petitioner is not entitled to any relief. Hence the judge dismissed the petition and imposed a cost of Rs50,000 on the petitioner, payable to the credit of the headmaster of Sethupathi govt higher secondary school in Tiruchuli in Virudhunagar district. The case was posted on July 18 for reporting compliance.
Free Malaysia Today
22-05-2025
- Business
- Free Malaysia Today
Close urban-rural education gap to ensure future, say academics
UPM's Wan Marzuki Wan Jaafar said better facilities in schools in rural areas, such as computer labs and internet access, will help to close the gap with urban areas. (Bernama pic) PETALING JAYA : Closing the education gap between rural and urban areas should be one of the government's main areas of investment to ensure long-term economic success and the future of Malaysians, says an academic. Wan Marzuki Wan Jaafar of Universiti Putra Malaysia called for better facilities such as computer labs and internet access in schools in rural areas, as well as the placement of quality teachers and the introduction of programmes that integrate education, health, and entrepreneurship. He also said it was important to strengthen technical and vocational education and training (TVET) programmes and enhance the teaching profession through initiatives like futuristic teacher programmes. 'Targeted subsidies allow savings to be channelled directly to the education sector – the most valuable investment not just for the economy, but also for the future of the people and nation. Wan Marzuki Wan Jaafar. 'With the right strategies in place, Malaysia can produce a knowledgeable, highly-skilled, and globally competitive generation. 'But the education budget must be supported by a comprehensive monitoring system that evaluates the impact of initiatives undertaken based on the quality of learning outcomes,' he told FMT. In the 2025 federal budget unveiled by Prime Minister Anwar Ibrahim, the education ministry was allocated RM64.1 billion, up from RM58.7 billion previously. Anwar, who is also the finance minister, announced RM18 billion for the higher education sector, with the main focus being ensuring greater access to universities. Universiti Kebangsaan Malaysia's Anuar Ahmad said it was crucial that the government repair dilapidated schools and increase the number of teachers nationwide. Anuar Ahmad. He also called for greater assistance for students from low-income families and the implementation of programmes tailored to future learning needs. Just like other sectors, he said, targeted subsidies should be applied in education based on the needs of students and schools to ensure good returns on investment (ROI). 'We certainly need additional funds for education, but they must be targeted and impactful in terms of the ROI. 'There must be monitoring, because we know that blanket subsidies for all students are not appropriate,' said Anuar, who is also the deputy director of UKM's Malaysian Inclusive Development and Advancement Institute. He said additional support for the education sector could boost the country's skilled workforce, aiding economic growth and advancing the nation as a whole.
