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CURRENT AFFAIRS: BANKING AND BUSINESS NEWS

Reserve Bank of India Financial Stability Report – June 2025: India Emerges as a Pillar of Global Economic Stability

• The Reserve Bank of India (RBI) released its June 2025 Financial Stability Report (FSR), presenting a robust picture of India’s economic and financial resilience amidst global uncertainty.
• While the world grapples with geopolitical tensions, trade disruptions, and public debt, India continues to shine as a fastest-growing major economy backed by strong domestic demand, cooling inflation, and resilient financial institutions.

Key Highlights:

• Strong GDP Growth:
  • India recorded a 6.5% GDP growth in FY 2024–25 and is projected to maintain the same in FY 2025–26.
  • GDP at current prices grew from ₹106.57 lakh crore (2014–15) to an expected ₹331.03 lakh crore (2024–25).
• Inflation at a Record Low:
  • CPI inflation dropped to 2.8% in May 2025, a 6-year low, supporting macroeconomic stability.
  • Outlook for food inflation is favourable; imported inflation risk is low due to softening global commodity prices.
• Banking Sector Health (SCBs):
  • CRAR at an all-time high of 17.3% (March 2025); CET1 capital at 14.7%.
  • GNPA ratio fell to 2.3%, NNPA to 0.5%, PCR strong at 76.3%.
  • Stress tests confirm that banks can withstand severe geopolitical shocks, maintaining CRAR above 14.2%.
• Non-Banking Financial Company (NBFC) and Other Financial Institutions:
  • NBFCs' CRAR at 25.8%; remained healthy despite moderated credit growth.
  • Urban Cooperative Banks' CRAR improved to 18.0%.
  • Insurance solvency ratios: Life insurers at 204%, non-life at 166% – well above minimum norms.
• External Sector Strength:
  • Forex reserves at US$ 697.9 billion (June 20, 2025) – cover over 11 months of imports.
  • CAD contained at 0.6% of GDP in FY25, with a surplus in Q4.
• Key Regulatory Measures by RBI:
  • Special Rupee Vostro Account (SRVA) framework to promote rupee internationalisation.
  • Updated Liquidity Coverage Ratio (LCR) norms to address fintech-related liquidity risks.
  • Digital Lending guidelines revised for better transparency and consumer protection.
• Systemic Risk Outlook:
  • Top perceived risks: Geopolitical conflict, capital outflows, trade disruptions, cyber and climate risks.
  • 92% of experts expressed high or unchanged confidence in the Indian financial system.
  • 80% believe the banking sector outlook will improve or remain stable over the next year.

Sahil Kini Appointed CEO of Reserve Bank Innovation Hub

• Sahil Kini, a veteran fintech entrepreneur and former Setu co-founder, has been named the new Chief Executive Officer of the Reserve Bank Innovation Hub (RBIH) in Bengaluru, succeeding Rajesh Bansal, who completed his four-year term earlier in 2025.
• His selection, from a pool of over 400 applicants, underscores India’s commitment to advancing digital finance innovation.

Key Highlights:

• Leadership Transition: Kini replaces founding CEO Rajesh Bansal, under whom RBIH launched the Frictionless Credit platform and the Swanari program for women’s financial inclusion.
• Rigorous Selection: The appointment followed a long search process with 400+ candidates, reflecting RBI’s emphasis on securing top talent for its fintech arm.
• Fintech Credentials:
  • Educational Background: Dual degree holder from IIT Madras in Economics and Engineering.
  • Corporate Experience: Tenures at McKinsey, Aspada Investments, and Titan.
  • Entrepreneurial Track Record: Co-founded Setu in 2018; the company was acquired by Pine Labs in 2022.
• IndiaStack Contributions: At the iSPIRIT Foundation, Kini helped develop Aadhaar and UPI, foundational digital platforms enabling identity verification and real-time payments.

About RBI Innovation Hub:

• • Established in 2022 as a fully owned RBI arm in Bengaluru.
  • Mandate: Drive collaboration among government, banks, startups, and tech firms to spur inclusive lending, fraud prevention, and digital financial infrastructure.

CAMS Unveils New CAMSPay Gateway for Secure Digital Transactions

• Computer Age Management Services (CAMS) has launched a new CAMSPay Payment Gateway, designed to meet the changing needs of India’s digital payments ecosystem.

• The platform is built to address regulatory challenges like RBI’s tokenisation and data localisation, while also delivering real-time transaction visibility and high reliability.
• CEO Vasanth Jeyapaul describes the gateway as a strategic solution offering compliance, scale, and performance.
• Key capabilities include:
  • Handling 5,000+ transactions per second (TPS)
  • Real-time analytics and dashboards
  • Seamless high-volume performance
  • Native integration with major banks
• Developed in partnership with Mylapay and supported by RBL Bank (BIN sponsor).
• Certified by Mastercard, VISA, and Rupay for strong compliance and security.
• Currently serves businesses across BFSI, NBFCs, fintech, and education, with plans to expand to capital markets, insurance, brokerages, and more.

ReserveOne to List on Nasdaq via $1 Billion SPAC Merger with M3-Brigade

• ReserveOne, a leading cryptocurrency investment firm, will become a publicly traded company on the Nasdaq after merging with M3-Brigade, a Special Purpose Acquisition Company (SPAC), in a deal valued at over $1 billion.

Key Highlights:

• SPAC Transaction: ReserveOne’s $1 billion+ merger with M3-Brigade facilitates its Nasdaq listing, providing a clear pathway to the public markets.
• Diversified Crypto Treasury: The combined entity will hold a yield-generating portfolio anchored by Bitcoin, with additional allocations in Ethereum (ETH) and Solana (SOL).
• Capital for Growth: Proceeds from the merger will enable ReserveOne to expand operations and further diversify its crypto holdings, positioning it for long-term growth.
• Institutional Appeal: The regulated, transparent structure is designed to attract institutional investors, offering a compliant vehicle for crypto exposure.
• Market Impact: The Nasdaq listing marks a milestone in mainstream adoption of digital assets and may encourage other crypto firms to pursue similar public-market strategies.
• Strategic Risk Management: By focusing on yield-generating assets and a balanced portfolio, ReserveOne aims to manage volatility while maximizing returns in the dynamic crypto landscape.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

NTPC Simhadri Celebrates 28th Raising Day at Parawada, Andhra Pradesh

• NTPC Simhadri, India's first coastal-based thermal power plant, celebrated its 28th Raising Day on July 8, 2025, at its Parawada, Anakapalli campus, Andhra Pradesh.
• The event highlighted its journey of nearly three decades in sustainable power generation, 100% ash utilization, and contributions to community development, under the leadership of Executive Director Sameer Sharma.

Key Highlights:

• Established in 1997, NTPC Simhadri is a flagship coastal power station of NTPC Ltd.
• Sameer Sharma, ED & Head of Project, hoisted the NTPC flag and addressed the gathering, reflecting on the plant’s achievements and vision.
• Achieved 100% ash utilization, demonstrating environmental responsibility by using all coal ash generated in power production.
• The plant is actively involved in green initiatives, CSR programs, and community outreach beyond power generation.
• Celebrations included prize distribution and events linked to Swachhata Pakhwada, World Environment Day, and International Yoga Day, promoting employee well-being and sustainability awareness.
• NTPC Simhadri reaffirmed its future vision of reliable energy, eco-friendly practices, and social commitment as it enters its 29th year.

Union Minister Pradhan Inaugurates Uttar Pradesh Agritech Innovation Hub at SVPUAT, Meerut

• Union Minister for Education Shri Dharmendra Pradhan, alongside Minister of State Shri Jayant Chaudhary, inaugurated the Uttar Pradesh Agritech Innovation Hub and the Agritech Startup & Technology Showcase at Sardar Vallabhbhai Patel University of Agriculture & Technology (SVPUAT), Meerut, to foster region-specific, sustainable agricultural solutions.

Key Highlights:

• Collaborative Platform: The Hub connects farmers, startups, academia, and Krishi Vigyan Kendras (KVKs) to co-create precision-farming technologies.
• Next-Gen Technologies Deployed: Includes IoT-enabled sensors, smart irrigation systems, automation tools, and real-time data analytics for climate-resilient agriculture.
• Centre of Excellence Partnership: IIT Ropar leads the AI in Agriculture CoE, providing its CPS Lab infrastructure, AI/IoT expertise, and ₹75 lakh funding, formalized via an MoU with SVPUAT.
• Model Smart Farm Demo: Showcased advanced irrigation automation, soil-moisture sensors, weather-linked advisories, and innovations from 20 agritech startups.
• Capacity Building & Skilling: Announced startup incubation, training programs, and field-based learning modules to ensure technology adoption by farmer-producer organizations (FPOs) and KVKs.
• Vision for Viksit Bharat: Emphasized that modernized agriculture, rooted in natural and zero-budget farming, is key to doubling farmers’ incomes and achieving self-reliant rural economies.

Prime Minister Narendra Modi Sets $20 Billion Trade Target with Brazil by 2030

• During his official visit to Brazil, Prime Minister Narendra Modi set an ambitious target to raise India–Brazil bilateral trade to $20 billion by 2030, up from the current $12.2 billion.
• The visit also saw the strengthening of economic, digital, and strategic ties between the two countries, including the conferral of Brazil's highest civilian award on PM Modi.

Key Highlights:

• Expansion of Mercosur Trade Agreement: India plans to broaden the Mercosur Preferential Trade Agreement to enhance market access for Indian exporters, especially in agriculture, food processing, agri-tech, and space technology.
• Adoption of UPI in Brazil: PM Modi announced plans to introduce India’s Unified Payments Interface (UPI) in Brazil, aligning with Brazil’s digital inclusion goals and showcasing India’s fintech leadership.
• Civilian Honour Conferred: Brazilian President Luiz Inácio Lula da Silva awarded PM Modi the Grand Collar of the National Order of the Southern Cross, recognizing his role in deepening Indo-Brazil ties and promoting South–South cooperation.
• Pharmaceutical Cooperation: Brazil expressed support for Indian pharma exports and the establishment of pharmaceutical manufacturing hubs, enhancing public health access.
• Critical Minerals Collaboration: India expressed interest in investing in Brazil’s rare earth sector, crucial for EV batteries, electronics, and defense manufacturing. Brazil assured policy incentives for Indian companies.
• MoUs Signed:
  • Intelligence sharing on terrorism and transnational crimes
  • Biofuel cooperation, including ethanol-blended fuels
  • Renewable energy technology partnership
• Upcoming MoUs:
  • Collaboration in agricultural research
  • Exchange of classified strategic information
  • Cooperation on intellectual property systems

Bihar Government Grants 35% Job Reservation to Domicile Women and Establishes Bihar Youth Commission

• The Nitish Kumar-led Bihar Cabinet, approved a 35% horizontal reservation in state government jobs exclusively for women domiciled in Bihar and sanctioned the creation of the Bihar Youth Commission to drive local youth empowerment, education, and employment initiatives.

Key Highlights:

• Domicile-Based Women’s Reservation: The 35% horizontal quota in direct recruitment across all state government cadres is now restricted to women native to Bihar; female candidates from other states will be classified under the general category.
• Policy Formalization: Implemented via a General Administration Department proposal, marking Bihar’s first domicile-centric women’s reservation policy.
• Political Context: Launched ahead of the state assembly elections, this move is seen as a strategy to bolster support among women voters and reinforce Bihar’s gender-inclusive governance track record.
• Bihar Youth Commission Mandate:
  • Advise the government on youth development policies.
  • Ensure education and employment opportunities for Bihari youth.
  • Monitor private sector hiring to prioritize local candidates.
  • Protect interests of Bihar’s students and professionals living outside the state.
• Commission Structure: Comprised of a Chairman, two Vice-Presidents, and seven members, all below 45 years, to maintain a youth-centric perspective.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Bulgaria to Join Eurozone as 21st Member from January 2026

• European Union (EU) finance ministers gave final approval for Bulgaria to adopt the euro as its official currency from January 1, 2026, making it the 21st country in the eurozone.

Key Highlights:

• Currency Transition: Bulgaria will replace its national currency, the lev, with the euro at a fixed exchange rate of 1.95583 lev per euro.
• Economic Milestone: The move follows Bulgaria’s compliance with the Maastricht criteria, including low inflation, sound public finances, and stable exchange rates.
• Delayed Entry: Bulgaria’s euro adoption had been postponed earlier due to high inflation. The recent approval confirms its economic alignment with eurozone requirements.
• Political Context: Despite approval, the transition occurs amid political instability, with seven national elections in three years and public protests in Sofia over concerns like inflation and loss of purchasing power.
• Eurozone Expansion Timeline:
  • Croatia was the last to join in 2023.
  • Earlier joiners include: Slovenia (2007), Cyprus & Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014), Lithuania (2015).

Points to remember:

• Country: Bulgaria
• New Currency: Euro
• Effective Date: January 1, 2026
• Euro Exchange Rate: 1.95583 lev = 1 euro
• Eurozone Member Number: 21st
• Last Country to Join Before Bulgaria: Croatia (2023)

CURRENT AFFAIRS: AWARDS AND HONOURS

Prime Minister Narendra Modi Conferred Brazil’s Highest Civilian Honour – Grand Collar of the National Order of the Southern Cross

• Prime Minister Narendra Modi has been awarded Brazil’s highest civilian honour, the Grand Collar of the National Order of the Southern Cross, in recognition of his significant role in strengthening India-Brazil relations and enhancing India’s global influence.
• The award was conferred by Brazilian President Luiz Inácio Lula da Silva.

Key Highlights:

• Award Title: Grand Collar of the National Order of the Southern Cross — Brazil’s most prestigious civilian award.
• Purpose: Given to heads of state or leaders who contribute significantly to Brazil’s ties with other countries.
• Reason for Award: Recognizes PM Modi’s efforts in bolstering the India-Brazil strategic partnership, and his active role in multilateral platforms such as BRICS, G20, and the United Nations.
• Significance:
  • Symbol of growing India-Brazil relations, especially in trade, renewable energy, space, agriculture, and global governance.
  • Highlights shared democratic values and vision for a multipolar, sustainable world order.
• This is his 26th international award from a foreign country since taking office in May 2014.

Kasaragod District Wins Kerala Fisheries Department Excellence Award 2025

• Kasaragod has been honored with the Fisheries Department Excellence Award 2025 for its exemplary implementation of the Popular Fish Farming Project, recognizing the district’s leadership in sustainable aquaculture and community engagement.

Key Highlights:

• Best District Recognition: Kasaragod was adjudged the top district in Kerala for its innovative and effective fisheries development initiatives under the Popular Fish Farming Project.
• Individual Farmer Awards:
  • Ravi P.P. (Padanna) secured 2nd place in the Best Backwater Fish Seed Production Farmer category.
  • Sea Pearl Aquafarm (Kumbala) claimed 3rd place for Best Innovative Fish Farming.
• Leadership Acknowledged: District Collector K. Inbasekar and Fisheries Deputy Director K.A. Labib were praised for strategic guidance and stakeholder coordination that drove project success.
• Track Record of Excellence:
  • Previously won the Matsya Karshaka Award for Best District under the Popular Fisheries Project.
  • Awarded Best BMC at the 2023 State Biodiversity Awards.
  • First district panchayat in India to officially declare a tree, flower, and bird, reflecting its unique biodiversity identity.

CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATIONS

Hardeep Singh Brar Appointed as New President & CEO of BMW Group India from September 1, 2025

• BMW Group India has announced that Hardeep Singh Brar will assume the role of President and CEO from September 1, 2025, replacing Vikram Pawah, who will lead BMW’s operations in Australia and New Zealand.

Key Highlights:

• Experienced Industry Leader: Hardeep Singh Brar brings over 30 years of experience in the Indian automotive sector. He has held leadership roles at Kia India, Maruti Suzuki, Volkswagen, General Motors, Nissan, and Great Wall Motors.
• Educational Background: He holds a Mechanical Engineering degree from Thapar Institute of Engineering and Technology and has completed the Senior Executive Leadership Program at Harvard Business School.
• BMW’s Strategic Focus on India: The appointment comes as India emerges as one of BMW’s fastest-growing markets, and the company aims to enhance its presence in the premium automobile segment.
• Leadership Transition: Vikram Pawah, who led BMW India from 2020 to 2025, will take over BMW Group operations in Australia and New Zealand. Under his leadership, BMW India grew in electric mobility, digital innovation, and customer experience.

About BMW Group India:

• Established in 2007, BMW Group India manages three brands—BMW, MINI, and BMW Motorrad—with operations including:
• A manufacturing plant in Chennai
• A parts distribution centre in Pune
• A training centre in Gurugram
• Over 80 dealerships across India

Sabih Khan Appointed Apple’s Chief Operating Officer to Navigate Global Operations

• Apple Inc. announced that Sabih Khan, its long-serving Senior Vice President of Operations, will succeed Jeff Williams as Chief Operating Officer (COO), overseeing the company’s manufacturing, supply chain, and sustainability efforts.

Key Highlights:

• Extensive Tenure at Apple: Joined in 1995 in procurement and rose to SVP of Operations in 2019, steering supply-chain resilience through the COVID-19 pandemic and geopolitical tensions.
• Academic Credentials: Holds dual bachelor’s degrees in Economics and Mechanical Engineering from Tufts University and a Master’s in Mechanical Engineering from Rensselaer Polytechnic Institute.
• Scope of COO Role: Will oversee:
  • Product quality assurance
  • Supply-chain strategy and optimization
  • Manufacturing and logistics coordination
  • Procurement and supplier partnerships
  • Fulfillment and distribution networks
  • Corporate sustainability and labor ethics programs

CURRENT AFFAIRS: DEFENCE NEWS

India Successfully Tests Indigenous Extended Range Anti-Submarine Rocket (ERASR)

• India has successfully conducted user trials of the Extended Range Anti-Submarine Rocket (ERASR) from INS Kavaratti, marking a significant advancement in the nation’s underwater warfare capabilities.
• Developed by the Defence Research and Development Organisation (DRDO), the system supports India’s goal of achieving self-reliance in defence (Aatmanirbhar Bharat).

Key Highlights:

• Platform of Testing: Trials conducted from INS Kavaratti, a frontline Indian Navy warship, between June 23 and July 7, 2025, under realistic operational conditions.
• Total Launches: 17 rockets were launched at varying ranges to assess full performance capacity.
• Key Feature – Twin-Rocket Motor: Ensures range flexibility, enabling engagement of both short and long-distance targets.
• Advanced Technology:
  • Equipped with electronic time fuze for precise detonation.
  • High accuracy and consistency even in challenging sea conditions.
• Warhead Performance: All warhead detonations met operational standards, confirming readiness for deployment.
• User Trial Outcomes:
  • Range objectives met.
  • Electronic fuze operated with high reliability.
  • Warhead activation successful in all tests.
• Boosts Indian Navy’s anti-submarine strike capabilities and enhances maritime defence preparedness.
• Demonstrates India’s ability to indigenously develop sophisticated defence systems with international-level performance.

Indian Navy and Bharat Electronics Limited Forge Contract for National Maritime Domain Awareness Project

• The Indian Navy has signed a contract with M/s Bharat Electronics Limited (BEL), Bengaluru to implement the National Maritime Domain Awareness (NMDA) Project, enhancing maritime and coastal security through a unified data-driven framework.
• The agreement was formalized in the presence of VAdm Tarun Sobti, Deputy Chief of the Naval Staff, and Shri Manoj Jain, Chairman & MD of BEL.

Key Highlights:

• Contract Partnership: Awarded to BEL for end-to-end execution of the NMDA Project on a turnkey basis, with administration by the Indian Navy.
• Leadership Presence: Signed under the aegis of VAdm Tarun Sobti and Shri Manoj Jain, signifying high-level commitment.
• Network Upgradation: Transforms the existing National Command, Control, Communication & Intelligence (NC3I) Network into the NMDA Network, incorporating AI-enabled software for advanced analytics.
• Integrated Data Approach: Establishes collation, analysis, and real-time information sharing among diverse maritime stakeholders to bolster coastal surveillance.
• Centre Enhancement: Upgrades the Information Management & Analysis Centre (IMAC) at Gurugram into a Multi-Agency NMDA Centre, hosting representatives from various national agencies.

CURRENT AFFAIRS: SCIENCE AND TECHNOLOGY

HCLSoftware Unveils Domino 14.5 Featuring Sovereign AI Platform Domino IQ

• HCLSoftware has launched Domino 14.5, introducing Domino IQ, a sovereign AI solution engineered to ensure data sovereignty and privacy for government and regulated-sector workloads, safeguarding sensitive information from foreign access or influence.

Key Highlights:

• Domino IQ for Data Sovereignty: A purpose-built AI platform that operates entirely within national data boundaries, eliminating reliance on international cloud services susceptible to foreign surveillance.
• Enhanced Security Controls: Incorporates advanced encryption, access governance, and tamper-resistant logging to protect classified and regulated data throughout its lifecycle.
• Local Control Imperative: Addresses the growing need among public sector bodies for autonomous digital governance, as highlighted by Richard Jefts, EVP & GM of HCLSoftware.
• Compliance with National Regulations: Enables organizations to meet stringent data protection laws and national security mandates, reducing exposure to cross-border data flow risks.
• Integration with Global AI Initiatives: Complements HCLTech’s collaboration with OpenAI, offering customers the choice between global AI frameworks and the sovereign AI capabilities of Domino IQ.

Indian Space Research Organisation Successfully Conducts Hot Tests of Gaganyaan Propulsion System

• The Indian Space Research Organisation (ISRO) achieved a critical milestone, by successfully conducting two hot tests of the Gaganyaan Service Module Propulsion System (SMPS) at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu.
• These tests are essential for India's first human spaceflight mission under the Gaganyaan Programme.

Key Highlights:

• Purpose of the Tests:
  The hot tests aimed to validate the performance of the SMPS under simulated flight conditions, ensuring system reliability during orbital maneuvers and emergency scenarios.
• Test Details:
  • Short-duration test: 30 seconds
  • Extended test: 100 seconds
    Both tests confirmed normal operation parameters, matching pre-test predictions.
• Components of SMPS:
  • 5 Liquid Apogee Motors (LAMs), each with 440 N thrust
  • 16 Reaction Control System (RCS) thrusters, each delivering 100 N thrust
  • Capable of steady-state and pulsed modes of operation
• Developed by: Liquid Propulsion Systems Centre (LPSC), ISRO
• Importance in Gaganyaan Mission:
  • The SMPS ensures trajectory corrections, orbital positioning, and abort capability, all of which are critical for crew safety.
  • These successful hot tests validate system readiness for full-duration qualification tests and human-rated space missions.

CURRENT AFFAIRS: OBITUARIES

Bismillah Jan Shinwari, ICC International Panel Umpire, Passes Away at 41

• Former member of the ICC International Panel of Umpires, Bismillah Jan Shinwari, died at the age of 41, following a brief illness.
• A pioneering figure in Afghan cricket officiating, he stood in 25 ODIs and 21 T20Is, leaving behind a legacy of fairness, integrity, and professionalism.

Key Highlights:

• ICC International Panel Member: One of the first Afghan umpires selected to the ICC International Panel, elevating Afghanistan’s presence in global cricket officiating.
• International Debut: Officiated his first ODI in December 2017—Afghanistan vs. Ireland at Sharjah—marking the start of his international umpiring career.
• Matches Officiated: Controlled 25 One-Day Internationals (ODIs) and 21 Twenty20 Internationals (T20Is), earning respect for consistency and calm under pressure.

Daily CA One- Liner: July 10

• The Reserve Bank of India (RBI) released its June 2025 Financial Stability Report (FSR), presenting a robust picture of India’s economic and financial resilience amidst global uncertainty
• Sahil Kini, a veteran fintech entrepreneur and former Setu co-founder, has been named the new Chief Executive Officer of the Reserve Bank Innovation Hub (RBIH) in Bengaluru, succeeding Rajesh Bansal, who completed his four-year term earlier in 2025
• Computer Age Management Services (CAMS) has launched a new CAMSPay Payment Gateway, designed to meet the changing needs of India’s digital payments ecosystem.
• ReserveOne, a leading cryptocurrency investment firm, will become a publicly traded company on the Nasdaq after merging with M3-Brigade, a Special Purpose Acquisition Company (SPAC), in a deal valued at over $1 billion
• NTPC Simhadri, India's first coastal-based thermal power plant, celebrated its 28th Raising Day on July 8, 2025, at its Parawada, Anakapalli campus, Andhra Pradesh
• Union Minister for Education Shri Dharmendra Pradhan, alongside Minister of State Shri Jayant Chaudhary, inaugurated the Uttar Pradesh Agritech Innovation Hub and the Agritech Startup & Technology Showcase at Sardar Vallabhbhai Patel University of Agriculture & Technology (SVPUAT), Meerut, to foster region-specific, sustainable agricultural solutions
• During his official visit to Brazil, Prime Minister Narendra Modi set an ambitious target to raise India–Brazil bilateral trade to $20 billion by 2030, up from the current $12.2 billion
• The Nitish Kumar-led Bihar Cabinet, approved a 35% horizontal reservation in state government jobs exclusively for women domiciled in Bihar and sanctioned the creation of the Bihar Youth Commission to drive local youth empowerment, education, and employment initiatives
• European Union (EU) finance ministers gave final approval for Bulgaria to adopt the euro as its official currency from January 1, 2026, making it the 21st country in the eurozone.
• Prime Minister Narendra Modi has been awarded Brazil’s highest civilian honour, the Grand Collar of the National Order of the Southern Cross, in recognition of his significant role in strengthening India-Brazil relations and enhancing India’s global influence
• Kasaragod has been honored with the Fisheries Department Excellence Award 2025 for its exemplary implementation of the Popular Fish Farming Project, recognizing the district’s leadership in sustainable aquaculture and community engagement
• BMW Group India has announced that Hardeep Singh Brar will assume the role of President and CEO from September 1, 2025, replacing Vikram Pawah, who will lead BMW’s operations in Australia and New Zealand
• Apple Inc. announced that Sabih Khan, its long-serving Senior Vice President of Operations, will succeed Jeff Williams as Chief Operating Officer (COO), overseeing the company’s manufacturing, supply chain, and sustainability efforts
• India has successfully conducted user trials of the Extended Range Anti-Submarine Rocket (ERASR) from INS Kavaratti, marking a significant advancement in the nation’s underwater warfare capabilities.
• The Indian Navy has signed a contract with M/s Bharat Electronics Limited (BEL), Bengaluru to implement the National Maritime Domain Awareness (NMDA) Project, enhancing maritime and coastal security through a unified data-driven framework.
• HCLSoftware has launched Domino 14.5, introducing Domino IQ, a sovereign AI solution engineered to ensure data sovereignty and privacy for government and regulated-sector workloads, safeguarding sensitive information from foreign access or influence.
• The Indian Space Research Organisation (ISRO) achieved a critical milestone, by successfully conducting two hot tests of the Gaganyaan Service Module Propulsion System (SMPS) at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu.
• Former member of the ICC International Panel of Umpires, Bismillah Jan Shinwari, died at the age of 41, following a brief illness