National Current Affairs

NITI Aayog’s SATH Program launched in Assam

National Institution for Transforming India (NITI) Aayog’s SATH (Sustainable Action for Transforming Human capital) Program was launched in in Guwahati, Assam.

The SATH program aims to provide structured support to Assam in identifying key health priorities and implement the solutions towards transforming the health and improving the well-being of people of state.

SATH program

The vision of SATH program is to initiate transformation in education and health sectors. It embodies the philosophy of co-operative federalism to addresses the need expressed by many states for technical support from NITI Aayog. The program will be implemented by NITI along with McKinsey & Company and IPE Global consortium, who were selected through a competitive bidding process.

SATH Program aims to build three selected states viz. Assam, Uttar Pradesh and Karnataka as future ‘role model’ states for health systems. Under it, NITI Aayog will work in close collaboration with state machinery in these three selected states to design a robust roadmap of intervention, develop program governance structure, set up monitoring and tracking mechanisms, handhold state institutions through the execution stage and provide support on a range of institutional measures to achieve the end objectives.

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FTSE SBI Bond Index: India’s first bond index series launched by SBI

State Bank of India (SBI) along with FTSE Russell, global index and data provider launched FTSE SBI Bond Index series at London Stock Exchange (LSE). It is India’s first bond index series for overseas investors.

It launch follows November 2015 visit of Prime Minister Narendra Modi in UK when letter of intent was signed between SBI and FTSE to jointly develop new index tracking Indian fixed income securities.

FTSE SBI Bond Index Series

FTSE SBI Bond Index is positioned as first-of-its-kind transparent and reliable benchmark for investors in international markets to analyse India’s government bond market. It will significantly contribute to development and broadening of Indian bond market. It demonstrates SBI’s commitment to play befitting leadership role in development of India’s bond market.

Background

Indian government bond market is worth around $1.7 trillion. Prior to launch of FTSE SBI Bond Index, the bond market was not having any reliable international indices on which international investors can invest in the country. Investors are eager to invest in India, but lacked enough depth in terms of the various types of bond products.

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