एक ऐतिहासिक कार्यक्रम में, केंद्रीय स्वास्थ्य मंत्री श्री जगत प्रकाश नड्डा और ओडिशा के मुख्यमंत्री श्री मोहन चरण माझी ने संयुक्त रूप से आयुष्मान भारत प्रधान मंत्री-जन आरोग्य योजना (एबी-पीएमजेएवाई) और गोपबंधु जन आरोग्य योजना के तहत सह-ब्रांडेड स्वास्थ्य कार्ड लाभार्थियों को वितरित किए। यह पहल राज्य में सार्वभौमिक स्वास्थ्य कवरेज की दिशा में एक महत्वपूर्ण कदम है। 

स्वास्थ्य मंत्री के अनुसार, एकीकरण से लगभग 1 करोड़ परिवार जुड़ेंगे, जिससे गुणवत्ता और कैशलेस स्वास्थ्य सेवाओं के दायरे में लगभग 3.52 करोड़ नागरिक आएंगे। 

आयुष्मान भारत का राष्ट्रीय प्रभाव और ओडिशा का संरेखण 

अपनी स्थापना के बाद से, आयुष्मान भारत ने पूरे देश में जीवन को प्रभावित किया है। इस योजना के तहत 8.19 करोड़ से अधिक लोगों ने उपचार प्राप्त किया है, जिसमें सरकार ने आवश्यक स्वास्थ्य सेवा तक पहुंच सुनिश्चित करने के लिए ₹1.26 लाख करोड़ का संचयी व्यय किया है। 

इस योजना की सबसे उल्लेखनीय उपलब्धियों में से एक जेब से होने वाले स्वास्थ्य व्यय में कमी है, जो 62% से घटकर 38% हो गया है, जिससे नागरिकों को वित्तीय बोझ के बिना उपचार कराने में मदद मिली है। 

गोपबंधु जन आरोग्य योजना को एबी-पीएमजेएवाई के साथ जोड़कर, ओडिशा अपने लोगों के लिए एक एकीकृत मंच के तहत लाभों को सुव्यवस्थित कर रहा है, जिससे पहुंच और प्रशासनिक दक्षता दोनों में सुधार हो रहा है। 

आयुष्मान वाए वंदना योजना भी शुरू की गई 

सह-ब्रांडेड स्वास्थ्य कार्ड के साथ, आयुष्मान वाए वंदना योजना भी ओडिशा में शुरू की गई। यह नई पहल बुजुर्ग आबादी की स्वास्थ्य सेवा आवश्यकताओं को पूरा करने के लिए तैयार की गई है, जिससे व्यापक कवरेज और समावेशी पहुंच सुनिश्चित हो सके। 

ओडिशा में योजना के लिए कौन पात्र है? 

ओडिशा में आयुष्मान भारत योजना के लिए पंजीकरण करने के लिए पात्रता मानदंड में निम्नलिखित शामिल हैं: 

• आवेदक ओडिशा के स्थायी निवासी होने चाहिए। 

• 70 वर्ष से अधिक आयु के वरिष्ठ नागरिक पात्र हैं। 

• व्यक्ति आर्थिक रूप से कमजोर वर्गों से संबंधित होने चाहिए। 

ये पैरामीटर सुनिश्चित करते हैं कि यह योजना उन लोगों तक पहुंचे जिन्हें इसकी सबसे अधिक आवश्यकता है और ओडिशा की न्यायसंगत स्वास्थ्य सेवा के प्रति प्रतिबद्धता का समर्थन करता है। 

ओडिशा में आयुष्मान भारत कार्ड के लिए ऑनलाइन पंजीकरण कैसे करें 

हालांकि ओडिशा ने अभी तक राज्य-विशिष्ट ऑनलाइन आवेदन शुरू नहीं किया है, लेकिन उम्मीद है कि यह नीचे उल्लिखित राष्ट्रीय प्रक्रिया का पालन करेगा: 

• आधिकारिक आयुष्मान भारत वेबसाइट पर जाएं। 

• अपना मोबाइल नंबर दर्ज करें, कैप्चा हल करें और लॉग इन पर क्लिक करें। 

• राज्य, जिला, आधार नंबर, योजना का नाम, पीएमजेएवाई आईडी या परिवार आईडी का उपयोग करके खोजें। 

• आगे बढ़ने के लिए ‘एक्शन’ बटन पर क्लिक करें। 

• पंजीकरण फॉर्म भरें और आवश्यक दस्तावेज अपलोड करें। 

• जानकारी की समीक्षा करें और प्रक्रिया को पूरा करने के लिए ‘सबमिट’ पर क्लिक करें। 

स्वास्थ्य केंद्र पर ऑफलाइन पंजीकरण कैसे करें 

जो लोग ऑफलाइन पंजीकरण पसंद करते हैं, उनके लिए प्रक्रिया इस प्रकार है: 

• निकटतम स्वास्थ्य और कल्याण केंद्र (एचडब्ल्यूसी) पर जाएं। 

• अधिकारी से परामर्श करें और आवश्यक दस्तावेज प्रदान करें। 

• अपने यूआईडी कार्ड का उपयोग करके बायोमेट्रिक प्रमाणीकरण पूरा करें। 

• सफल पंजीकरण पर, भौतिक आयुष्मान भारत कार्ड प्राप्त करें। 

निष्कर्ष 

सह-ब्रांडेड स्वास्थ्य कार्ड पहल केंद्र और राज्य के बीच एक सहयोगात्मक स्वास्थ्य सेवा मॉडल को दर्शाती है। दोहराव को समाप्त करके और राज्य-स्तरीय और केंद्रीय-स्तरीय योजनाओं को एकीकृत करके, ओडिशा का लक्ष्य स्वास्थ्य सेवा वितरण को निर्बाध और कुशल बनाना है। 

जैसे-जैसे यह पहल आगे बढ़ती है, यह न केवल कार्डों के वितरण का प्रतीक है, बल्कि स्वस्थ समुदायों और एक सशक्त सार्वजनिक स्वास्थ्य सेवा बुनियादी ढांचे की दृष्टि का भी प्रतीक है। 

अस्वीकरण: यह ब्लॉग केवल शैक्षिक उद्देश्यों के लिए लिखा गया है। उल्लिखित प्रतिभूतियां केवल उदाहरण हैं और सिफारिशें नहीं हैं। यह व्यक्तिगत सिफारिश/निवेश सलाह नहीं है। इसका उद्देश्य किसी व्यक्ति या संस्था को निवेश निर्णय लेने के लिए प्रभावित करना नहीं है। प्राप्तकर्ताओं को निवेश निर्णयों के बारे में स्वतंत्र राय बनाने के लिए अपना शोध और मूल्यांकन करना चाहिए।   

Sovereign Gold Bonds (SGBs) were launched in November 2015 by the Government of India as part of the broader Gold Monetisation Scheme. These bonds were designed to serve multiple purposes — primarily to reduce the physical demand for gold, encourage the financialisation of household savings, and utilise idle gold for productive purposes within the economy.

The bonds are issued by the Reserve Bank of India (RBI) on behalf of the Government and offer a unique way for investors to gain exposure to gold without the need to hold the physical asset.

Understanding the Tenure and Redemption of SGBs

SGBs have a fixed tenure of 8 years, but investors are given the flexibility to exit after 5 years from the date of issue through a premature redemption window facilitated by the RBI. This provision gives investors a mid-way liquidity option while still allowing them to benefit from potential appreciation in gold prices.

Recently, with the price of gold (999 purity) witnessing a significant surge, the RBI has announced premature redemption options for several SGB series. This includes the upcoming redemption of SGB 2027-18 Series IV and Series V, scheduled in April 2025.

Why the RBI is Opting for Premature Redemptions

The decision to discontinue certain SGB series and initiate premature redemptions is closely tied to the current market conditions. High gold prices translate into increased redemption payouts, making the continued servicing of these bonds costly for the government. By offering early redemptions, the RBI aims to optimise borrowing costs while giving investors an opportunity to exit profitably.

What Should Investors Consider?

Over the past five years, especially post-COVID-19, gold prices have appreciated sharply. This uptrend presents a potentially lucrative exit point for SGB holders. However, whether to redeem prematurely or hold until maturity depends on individual financial goals and portfolio allocations.

If your gold exposure has increased beyond 10–15% of your overall portfolio due to the rally, it may be sensible to redeem and book profits to rebalance your asset allocation. On the other hand, if your gold holding is within the desired range, continuing with SGBs until maturity might still serve long-term goals, while also ensuring continued interest income.

How to Redeem SGBs Prematurely

To redeem SGBs before maturity, investors must approach the institution, bank, post office, or broker through which the bonds were originally purchased. The RBI specifies redemption dates and guidelines in advance, and SGB units must be tendered accordingly.

It is advisable to ensure that all KYC details and demat account linkages are up to date to facilitate a smooth redemption process.

Read More: Did You Miss SGB Premature Exit Window: Check What You Should Know. 

Tax Implications of Sovereign Gold Bonds

Interest earned on SGBs is taxable under the head ‘Income from Other Sources’ as per the Income-tax Act, 1961, and is taxed according to your applicable income tax slab.

However, the capital gains from premature redemption via the RBI’s five-year window are exempt from Long Term Capital Gains (LTCG) tax. This provides a considerable tax benefit for those planning to redeem through the official RBI schedule.

If the SGBs are sold on the secondary market instead, capital gains tax applies along with relevant surcharges and cess. Importantly, holding SGBs until the full tenure of 8 years results in zero capital gains tax, as these are not treated as transfers under the prevailing tax laws.

Conclusion 

While the RBI’s move to redeem certain SGBs prematurely aligns with fiscal prudence and market dynamics, investors must evaluate their individual circumstances before making any decision. Reviewing gold allocation within the broader portfolio, understanding tax implications, and being aware of the procedural requirements for redemption are all key elements to keep in mind.

This information is intended to help you stay informed about the structure and implications of holding Sovereign Gold Bonds. Always stay updated with RBI announcements and consult your financial adviser for personalised guidance.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The National Pension System (NPS) marked a significant achievement in the financial year 2024–25, registering over 12 lakh fresh enrollments from the private sector. This rise in participation has taken the total subscriber base to more than 165 lakh by March 2025, signalling a growing shift towards structured retirement planning among working professionals outside the government sector.

What is Driving the Growth in NPS?

Several factors have contributed to the spike in NPS participation. Chief among them is increased awareness of retirement security and the benefits of long-term investing. Additionally, reforms and technology-driven accessibility have made it easier for individuals in the private sector to open and maintain NPS accounts.

Read More: NPS: National Pension Scheme, All You Need to Know

NPS Vatsalya: Early Retirement Planning for Children

A noteworthy development during the year was the launch of NPS Vatsalya in September 2024, a sub-scheme designed specifically for minors. The concept of early financial planning resonated with families, leading to over one lakh children being enrolled in a short time. This initiative has helped embed retirement awareness from a young age.

APY’s Parallel Growth and Role in Pension Coverage

While the NPS led the way in private sector engagement, the Atal Pension Yojana (APY) also saw remarkable growth, with 11.7 million new enrollments during the same year. The total APY subscriber count crossed 76 million as of March 2025. The scheme continues to provide a guaranteed monthly pension of  ₹1,000 to ₹5,000, and offers family benefits upon the subscriber’s death.

Robust Asset Growth Reflects Rising Trust

The combined Assets Under Management (AUM) of NPS and APY increased by 23%, reaching Rs 14.43 lakh crore by the end of FY25. This financial performance underscores the growing role these schemes play in India’s pension architecture, especially as more individuals turn to them for building retirement wealth.

High Returns and Growing Inclusivity

The APY scheme maintained a high average annual return of 9.11%. Furthermore, FY25 witnessed encouraging signs of inclusivity, with women accounting for about 55% of the new APY subscribers. This shows an upward trend in financial literacy and retirement preparedness among women.

Simplified Processes Through Regulatory Reforms

To improve ease of access, the Pension Fund Regulatory and Development Authority (PFRDA) allowed account opening through three Central Recordkeeping Agencies—CAMS, KFin, and Protean eGov Technologies. Contributions to APY are now accepted via auto-debit from both bank and post-office savings accounts, streamlining the process for users.

Driving Awareness Through Outreach Initiatives

During FY25, PFRDA conducted 32 APY outreach programmes across the country. These initiatives, in collaboration with State Level Bankers’ Committees (SLBCs) and Lead District Managers (LDMs), aimed to train banking staff and raise public awareness about pension schemes, playing a key role in their sustained growth.

Conclusion

As more individuals opt for the National Pension System, especially from the private sector, NPS is increasingly being viewed as a foundational component of personal financial planning in India. Its structured approach, flexibility, and long-term benefits have positioned it as a prominent vehicle for retirement preparedness in the country.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

According to the Reserve Bank of India’s (RBI) April bulletin, India stands at a strategic juncture as global supply chains undergo realignments. In an increasingly volatile global environment, companies are actively diversifying their manufacturing bases and investment destinations. With established trade linkages and a growing reputation for resilience and scalability, India is emerging as a compelling choice for multinational supply chains.

This shift is not accidental—it is the result of cumulative trade agreements, policy reforms, and India’s large domestic market, which together make the country a significant player in global trade dynamics.

FDI Diversification and Investor Confidence

The bulletin highlights the diversification of Foreign Direct Investment (FDI) sources as another positive signal for India’s external sector. As global investors seek to reduce risk and enhance resilience in their investment strategies, India’s consistent policy efforts and improved ease of doing business have made it a preferred destination.

The growing interest from multiple investor geographies not only mitigates concentration risk but also contributes to long-term economic stability. Engagement with a broader set of global stakeholders helps reinforce India’s image as a dependable economic partner.

Services Exports and Remittances: A Resilient Buffer

India’s strength in services exports and steady remittance inflows continues to be a reliable cushion for the current account. These two factors serve as vital financial buffers in times of global uncertainty.

Service sectors such as information technology, consulting, and business process outsourcing remain robust, helping offset trade imbalances. Additionally, remittances from the Indian diaspora, particularly from the Gulf and Western economies, provide stable foreign exchange earnings.

Domestic Demand: India’s Internal Growth Engine

Despite concerns over a slowing global economy due to heightened trade and tariff tensions, the RBI bulletin suggests that India’s domestic growth is driven primarily by internal engines—namely, consumption and investment. These components are deemed relatively insulated from external shocks.

Private consumption, supported by demographic trends and a growing middle class, continues to sustain demand. Meanwhile, public and private sector investments in infrastructure and manufacturing are expected to support economic momentum even if external demand softens.

Agricultural Outlook Buoyed by Monsoon Forecast

Adding to the positive domestic narrative is the forecast of an above-normal southwest monsoon for 2025. A favourable monsoon season typically enhances agricultural productivity, raises rural incomes, and contributes to food price stability.

For a largely agrarian economy, such developments are crucial not only for rural demand but also for maintaining inflation within a manageable band, thereby supporting broader economic stability.

Turning Volatility into Opportunity with Calibrated Policy

The bulletin article underscores that while global economic uncertainty poses challenges, it also presents a strategic opportunity for India. With well-calibrated policy interventions, the country can reinforce its standing in the evolving global economic order.

This includes policies that promote manufacturing competitiveness, ease of business, and infrastructure development, allowing India to attract more investment and play a larger role in global supply chains.

Read More: RBI Revises LCR Norms: New Run-Off Rates for Digital Deposits and Trust Funding. 

Conclusion

While the bulletin provides forward-looking observations, the RBI clarified that the views expressed in the ‘State of the Economy’ article are those of the authors and not the official stance of the central bank. Nonetheless, the analysis offers valuable insights into India’s positioning and prospects amid global shifts.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

In a significant step to reinforce transparency and fairness in the securities market, the Securities and Exchange Board of India (SEBI) has introduced stricter controls on insider trading. A new directive extended trading restrictions during sensitive financial periods to include the immediate relatives of designated persons (DPs) within listed companies.

What Is the Trading Window Closure Period?

The trading window closure period refers to a block of time during which individuals with potential access to unpublished price-sensitive information (UPSI) are prohibited from trading in the company’s securities. This window typically shuts ahead of major financial disclosures—like quarterly results, and reopens only after the information has been made public and absorbed by the market.

Until now, these rules applied primarily to insiders such as directors, senior executives, and other key managerial personnel. However, SEBI has now broadened the scope of restrictions.

What Has Changed Under SEBI’s New Rule?

The core amendment lies in the inclusion of immediate relatives of insiders within the ambit of trading restrictions. Immediate family members—such as spouses, parents, and children—of designated persons are now explicitly prohibited from engaging in trading during the window closure period.

This move is grounded in the understanding that UPSI can easily be shared informally within families, potentially leading to unfair trading advantages. By bringing immediate relatives under the purview of these regulations, SEBI aims to plug potential loopholes and foster equitable participation in the markets.

How Will This Be Enforced?

To enforce these new norms effectively, SEBI has directed stock exchanges and depositories to implement automated controls over trading accounts. Specifically, the demat accounts linked with PANs of immediate relatives will be automatically frozen for on-market and off-market transactions during the restricted periods.

The responsibility for sharing the required data, such as PAN and demat account details of designated persons and their immediate family members, rests with the listed companies. This data will be passed on to the designated depositories, who will coordinate with exchanges to impose the trade freeze.

Implementation Timeline

The rollout of this regulation will take place in two distinct phases:

Phase 1:

Effective from July 1, 2025 – Applicable to the top 500 listed companies by market capitalisation.

Phase 2:

Effective from October 1, 2025 – Applicable to all other listed companies in India.

This phased approach gives companies sufficient time to collate, validate, and submit the necessary details to ensure smooth compliance.

Read More: Check Out The SEBI’s Recent Investor Protection Measures

The Broader Objective: Market Integrity

These amendments are not merely administrative. They align with SEBI’s broader vision of enhancing investor confidence and ensuring a level playing field in capital markets. By pre-emptively closing the doors to potential information leaks, even through familial channels, SEBI is reinforcing its commitment to safeguarding market integrity.

Conclusion

SEBI’s expanded scope of insider trading restrictions marks a decisive evolution in regulatory oversight. By including the immediate relatives of insiders, the regulator underscores the principle that market fairness must extend beyond formal designations and into areas where informal information flows may exist. These proactive measures reflect a maturing capital market where transparency, accountability, and investor protection remain paramount.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.