IIM inks MoU to promote financial literacy in state
SHILLONG, Aug 26: In a bid to promote financial literacy across Meghalaya, the Indian Institute of Management Shillong has signed a Memorandum of Understanding (MoU) with the Association of Mutual Funds in India (AMFI). According to a statement here, the initiative will begin in the state capital and gradually extend to all 12 districts of the state. As part of the collaboration, IIM Shillong students will receive free training and certification through a structured two-tier program comprising the SEBI Investor Certification (Level I) and the NISM V-A Certification (Level II). The programme aims to go beyond summer internships, encouraging active student participation in long-term capacity building and financial awareness campaigns. On the occasion, Director (I/c), IIM Shillong, Prof. Naliniprava Tripathy reiterated the institute’s commitment to promoting financial literacy as a tool for empowerment, advancing data-driven research, and contributing to regulatory reforms. She said that embedding AMFI certifications into student learning would create a generation of certified trainers and ambassadors, thereby ensuring sustainable impact across Meghalaya.
Govt to turn hotel in Tura into five-star property
SHILLONG, Aug 26: After announcing the Tura Medical College project, the state government has now decided to redevelop the Polo Orchid Hotel in Tura into a five-star property under the Public-Private Partnership (PPP) model. The Director of Tourism, Shillong, has invited proposals through open tendering for the redevelopment, operation, and maintenance of the Polo Orchid Hotel. The project will be executed under the Design, Build, Finance, Operate, and Transfer (DBFOT) mode for a concession period of 60 years from the appointed date. The hotel, spread over 2.92 acres of land, will be upgraded into a five-star upscale facility. It may be noted that the State Government’s decision to develop the upcoming Tura Medical College and Hospital on a PPP mode had earlier drawn criticism from several political parties in the state. According to the Request for Proposal (RFP), the minimum development obligation includes the construction of an upscale hotel meeting five-star category standards with at least 100 rooms, along with ancillary amenities such as restaurants, cafés, meeting rooms, banquet halls, a spa, a swimming pool, water sports facilities, and other provisions as specified in the concession agreement. The project must be completed within 36 months from the appointed date. The RFP further states that the concessionaire must reserve a minimum of 3,000 room nights per year for the Government of Meghalaya. These may be availed by ministers, Members of the Legislative Assembly (MLAs), government employees, and other designated officials. The government will be entitled to utilize up to 3,000 room nights annually, with the tariff fixed at Rs 3,000 per night for the first year of operation, subject to a 3% annual escalation.