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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Proposes Mandatory Colour-Coded Credit Risk Indicator for Debt Securities

• The Securities and Exchange Board of India (SEBI) has proposed introducing a mandatory colour-coded Credit Risk-o-Meter for debt securities to help investors assess and compare credit risk more easily before investing.
• The proposal builds on SEBI’s existing Risk-o-Meter framework for Mutual Funds (MFs), which classifies risk into six levels ranging from Low to Very High.
• The proposed Credit Risk-o-Meter would convert the existing credit rating scale from AAA to D into a standardised six-level colour-coded visual scale.
• The framework aims to simplify complex alphanumeric credit ratings such as AAA, AA+, and BBB-, enabling investors to compare debt securities more easily and align investments with their risk appetite.
• The proposed six colour-coded credit-risk levels are Lowest credit risk, Very low credit risk, Low credit risk, Moderate credit risk, Moderate risk of default, and High to very high risk of default.
• Irish Green would represent Lowest credit risk, while Red would represent High to very high risk of default.
• The other proposed colour categories are Chartreuse for Very low credit risk, Neon Yellow for Low credit risk, Caramel for Moderate credit risk, and Dark Orange for Moderate risk of default.
• Issuers and Online Bond Platform Providers (OBPPs) would be required to display the Credit Risk-o-Meter in offer documents, abridged prospectuses, private placement memorandums, advertisements, and on their web and mobile platforms.
• The proposed meter would represent only the credit risk associated with the debt security and would not represent the complete risk associated with an investment.
• The name of the Credit Rating Agency (CRA) and the actual credit rating of the security would have to be disclosed in text immediately below the Credit Risk-o-Meter.
• If a debt security has ratings from multiple Credit Rating Agencies, the Credit Risk-o-Meter would be based on the lowest rating, while all ratings would have to be disclosed alongside it.
• For unsecured debt instruments, issuers would have to prominently disclose the word “UNSECURED” in bold red text below the Credit Risk-o-Meter.
• OBPPs would be required to immediately communicate any change in the Credit Risk-o-Meter of a debt security on their platforms.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Public Sector Bank Fraud Value Rises 58% to ₹35,671 Crore in FY26

• Fraud involving Public Sector Banks (PSBs) increased sharply by 58% in value to ₹35,671 crore in FY 2025-26, compared with ₹22,582 crore in FY 2024-25.

Key Highlights :

• At the same time, the number of reported fraud cases declined by 79%, falling from 27,356 cases in FY25 to 5,786 cases in FY26.
• The data indicates a trend of fewer but potentially larger and more sophisticated frauds being reported in Public Sector Banks.
• Among individual PSBs, Indian Overseas Bank (IOB) recorded the highest decline of 95% in fraud cases during FY26.
• Central Bank of India and Indian Bank each recorded a 91% decline in fraud cases during FY26.
• The decline in fraud cases was not uniform across all PSBs, as some banks reported significant increases during the year.
• UCO Bank recorded a 211% increase in fraud cases, while Bank of Maharashtra reported a 36% increase.
• Union Bank of India recorded a relatively marginal 3% increase in fraud cases during FY26.
• Recoveries from fraud-related cases more than doubled to approximately ₹2,514 crore in FY26, compared with the previous financial year.
• Punjab & Sind Bank recorded the highest recovery from fraud-related cases at approximately ₹772.31 crore in FY26, compared with only ₹0.5 crore in FY25.
• Punjab National Bank (PNB) ranked second in recovery at ₹604.37 crore, with its recoveries increasing by nearly six times compared with the previous year.
• Bank of India (BoI) ranked third with fraud recoveries of ₹429.08 crore, representing an increase of more than 71 times over its FY25 recovery.
• The top three PSBs in fraud-related recoveries in FY26 were Punjab & Sind Bank – ₹772.31 crore, Punjab National Bank – ₹604.37 crore, and Bank of India – ₹429.08 crore.
• Despite the increase in recoveries, the total recovery of ₹2,514 crore remained only a fraction of the ₹35,671 crore involved in PSB frauds during FY26.
• The Government stated that staff accountability was fixed in 5,147 cases over the last three financial years.
• First Information Reports (FIRs) were filed in 9,451 cases against borrowers responsible for fraud.
• The Government and Reserve Bank of India (RBI) have strengthened fraud-prevention mechanisms through Early Warning Systems (EWS), AI-based tools, and mule-account monitoring.
• MuleHunter, an AI-based fraud-prevention tool, is among the measures being used to identify and monitor mule accounts involved in fraudulent transactions.
• Banks have also undertaken staff accountability measures to strengthen internal controls and prevent fraudulent activities.
• IVR awareness campaigns and digital communication channels such as WhatsApp have also been used by banks to increase customer awareness and help prevent fraud.

Bank of Baroda Raises $700 Million Through Three- and Five-Year Bonds

• Bank of Baroda (BoB) has concluded the issuance of Senior Unsecured Fixed Rate Notes (FRNs) with three-year and five-year maturities, raising a total of USD 700 million under Regulation S.
• BoB raised USD 400 million through three-year FRNs at a coupon rate of 5.114% per annum.
• BoB also raised USD 300 million through five-year FRNs at a coupon rate of 5.318% per annum.
• The notes were issued under BoB’s USD 5 billion Global Medium Term Note (GMTN) Programme, which enables the bank to raise funds from international investors through debt instruments such as bonds and notes.
• The bonds will be issued through Bank of Baroda’s IFSC Banking Unit (IBU) branch at GIFT City, Gandhinagar, with issuance scheduled from 20 August 2026.
• The three-year and five-year bonds will be listed on the India International Exchange (India INX) and NSE-IX at GIFT City.
• The notes will also be listed on the Singapore Stock Exchange, according to the bank’s regulatory filing.
• The three-year notes will also be associated with BoB’s IFSC Banking Unit at GIFT City, strengthening the role of the International Financial Services Centre (IFSC) in international fundraising.
• The fundraising comes amid increased activity by Indian banks to raise foreign-currency funds, including in the context of banks offering leverage to Non-Resident Indians (NRIs) for fresh Foreign Currency Non-Resident-Bank (FCNR-B) deposits of three to five years under the RBI’s limited-period concessional swap facility.
• ICICI Bank, through its IFSC Banking Unit, has also completed the issuance of USD 300 million Senior Unsecured Fixed Rate Notes under its USD 7.5 billion Global Medium Term Note Programme.
• ICICI Bank’s notes will be listed on the Global Securities Market of India International Exchange IFSC Limited and the Debt Securities Market of NSE IFSC Limited.
• ICICI Bank has not disclosed the maturity period and coupon rate of its USD 300 million note issuance.

About BoB :

• Founded : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand

International Financial Services Centres Authority Approves Nexent Capital as Investment Banker in Gujarat International Finance Tec-City

• The International Financial Services Centres Authority (IFSCA) granted an Investment Banking licence to Nexent Capital IFSC Private Limited (Nexent Capital) to operate from GIFT City, Gandhinagar, Gujarat.
• Nexent Capital is the GIFT City-based arm of S.-based Nexent Capital Management and received formal registration from IFSCA on 31 July 2026.
• The registration was granted under the IFSCA (Capital Market Intermediaries) Regulations, 2025, allowing Nexent Capital to undertake regulated investment banking activities from India’s International Financial Services Centre (IFSC).
• Nexent Capital is authorised to manage Initial Public Offerings (IPOs) and Follow-on Public Offerings (FPOs) under the regulatory framework applicable to capital market intermediaries.
• The licence also permits Nexent Capital to undertake Special Purpose Acquisition Company (SPAC) listings, secondary listings, and Depository Receipt issuances.
• The company can undertake Debt Capital Market transactions and provide other capital market advisory services within the GIFT City IFSC regulatory framework.
• The registration enables Nexent Capital to provide end-to-end investment banking advisory services, including transaction structuring, listing readiness, capital-raising support, execution services, and post-listing capital market support.
• The registration strengthens GIFT City’s position as a gateway to global capital markets by providing international companies with an alternative platform to access investors through India’s IFSC ecosystem.
• Nexent Capital plans to expand its cross-border investment banking platform, particularly supporting high-growth companies from the United States and Europe seeking capital-raising and listing opportunities through GIFT City exchanges.
• Nexent Capital currently has an active pipeline of companies operating in high-growth sectors such as Artificial Intelligence (AI), Cybersecurity, Data Centers, Quantum Computing, Space Technology, and Energy.

About IFSCA :

• IFSCA was established on 27 April 2020 under the International Financial Services Centres Authority Act, 2019.
• IFSCA serves as India’s unified regulator for International Financial Services Centres (IFSCs) and is headquartered at GIFT City, Gandhinagar, Gujarat.

About Nexent Capital :

• Nexent Capital is a financial services firm specialising in investment banking, financial advisory, alternative asset management, and institutional equities.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India–Nepal to Complete Unmanned Aerial Vehicles -Based Cross-Border Land Mapping Within 3 Years

• India and Nepal have agreed to complete the mapping of cross-border land occupation within three years, addressing a long-standing technical issue along their shared boundary.
• The survey will use Unmanned Aerial Vehicles (UAVs) to identify and document areas where citizens of either country are cultivating or residing on land technically falling within the territory of the other country.

Key Highlights

• The joint UAV-based survey is expected to begin after the monsoon, around September–October 2026.
• The decision was taken at the 13th meeting of the Survey Officials’ Committee (SOC) held in Lucknow. The meeting also approved the annual plan and budget for the survey.
• Aerial images captured by UAVs will be jointly analysed by India and Nepal to determine the extent of cross-border land occupation and establish a common technical assessment.
• The issue has emerged partly due to changes in river courses along the India–Nepal border. In several riverine areas, the Fixed Boundary Principle was used during the original demarcation, but shifting river channels subsequently altered the position of land.
• The 182 sets of strip maps signed by India and Nepal in 2007 had already identified hundreds of hectares where citizens of one country were cultivating or residing on land belonging technically to the other country.
• The Survey Officials’ Committee (SOC) functions under the Boundary Working Group (BWG), which is headed by the survey chiefs of India and Nepal.
• The Joint Field Survey Teams undertake technical activities such as examining boundary markers, documenting changes and conducting field surveys.
• The Boundary Working Group (BWG) had agreed in 2025 to complete technical boundary-related work within three years, including construction of new boundary pillars and repair of damaged pillars.
• Susta and Kalapani-Limpiyadhura-Lipulekh areas remain outside the three-year technical boundary work timeline.
• India and Nepal share an approximately 1,880-kilometre-long international border, passing through 27 districts.
• According to Nepal’s Department of Survey, 8,554 boundary pillars have been installed along the India–Nepal border.
• 1,325 boundary pillars are missing.
• 1,956 boundary pillars are partially or completely damaged.
• The UAV-based mapping is intended to provide accurate and common technical data rather than immediately determine ownership of the disputed or occupied land.

About Nepal

• Capital: Kathmandu
• President: Ram Chandra Paudel
• Prime minister: Balendra Shah

Karnataka Cabinet Approves ‘Sandhya Kiran’ Cashless Healthcare Scheme for State Pensioners

• The Karnataka Cabinet approved the ‘Sandhya Kiran’ cashless healthcare scheme for State Government pensioners below 70 years, family pensioners and eligible dependents.
• The scheme aims to provide financial and health security through cashless healthcare services and initially covers around 4.93 lakh beneficiaries, including 3.11 lakh State Government pensioners below 70 years and their eligible dependents.

Key Highlights

• Under the scheme, eligible families can avail cashless treatment up to ₹5 lakh per year on a floater basis for secondary, tertiary and emergency healthcare at empanelled hospitals.
• The scheme has been formulated under the Ayushman Bharat–Arogya Karnataka (AB-ArK) regulations, with applicable benefit packages and revised treatment rates.
• Service pensioners will contribute 1.25% of their basic pension, while family pensioners will contribute 0.75% of their basic family pension.
• The scheme is expected to generate around ₹117 crore annually through beneficiary contributions, against an estimated annual treatment cost of ₹81.75 crore.
• 70% of the treatment cost will be met through beneficiary contributions, amounting to around ₹57.22 crore, while the remaining 30% will be contributed by the Karnataka Government, amounting to around ₹24.53 crore.
• To maintain financial sustainability, the contribution rate will automatically increase by 0.05 percentage points (5 basis points) whenever corpus utilisation exceeds 85%.
• Suvarna Arogya Suraksha Trust will implement the scheme, while beneficiary registration, contribution collection, hospital-network administration, cashless treatment, claims management and overall oversight will be managed through the AB-ArK system.

About Karnataka:

• Chief Minister: K. Shivakumar
• Governor: Thawarchand Gehlot
• Capital: Bengaluru
• National Parks: Bandipur National Park, Bannerghatta National Park, Nagarhole (Rajiv Gandhi) National Park, Kudremukh National Park, Anshi (Kali) National Park
• Wildlife Sanctuaries: Bhadra Wildlife Sanctuary, Brahmagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Dandeli Wildlife Sanctuary, Mookambika Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Sharavathi Valley Wildlife Sanctuary, Someshwara Wildlife Sanctuary, Talakaveri Wildlife Sanctuary, Ranebennur Blackbuck Wildlife Sanctuary

RECENT NEWS

• Karnataka has made public the draft Karnataka Apartment (Ownership and Management) Bill, 2025 (KAOMA), an awaited initiative intended to modernise the administration of apartments, enhance the powers of the owners and resolve the old disputes in the fast-growing real estate industry of the state

NITI Aayog Releases Report “Key Sectors to Position India as a Global Manufacturing Hub”

• NITI Aayog released the report titled “Key Sectors to Position India as a Global Manufacturing Hub”, identifying high-potential sectors that can help India become a global manufacturing powerhouse.

Key Highlights

• The report extensively analyses four key sectors — Chemicals, Textiles, Telecom & Networking Equipment, and Solar Photovoltaic (PV) Manufacturing.
• The assessment considers factors such as market potential, infrastructure readiness, policy support, raw material availability, technology readiness, employment potential and India’s position in the global value chain.
• The study was conducted in four phases: shortlisting sectors based on relative attractiveness, comprehensive assessment of shortlisted sectors, benchmarking international best practices, and developing actionable recommendations and a roadmap.
• The report will be followed by studies covering 8 more sectors.
• Chemicals Sector: India can increase domestic value addition by expanding downstream production, improving feedstock utilisation, reducing import dependence and strengthening downstream capabilities; strategic use of Free Trade Agreements (FTAs) can further support competitiveness.
• Textiles Sector: The industry contributes about 2% to India’s Gross Domestic Product (GDP), 11% to manufacturing Gross Value Added (GVA) and 9% of merchandise exports, while providing livelihoods to more than 45 million people.
• In Fiscal Year 2025, India exported textile products worth USD 37.7 billion, accounting for 4.1% of global textile and apparel exports, making India the 6th-largest textile exporter globally.
• Key priorities for textiles include better raw material availability, infrastructure support, market access, skilling, technology adoption, productivity improvement, technical textiles, Man-Made Fibre (MMF)-based products, sustainable textiles and premium Indian weaves.
• Telecom & Networking Equipment Sector: India is the world’s 2nd-largest telecommunications market, with more than 1.2 billion subscribers, around 85% telecom penetration and nearly 75% internet usage.
• National Telecom Policy 2025 (NTP-25) aims to double the telecom sector’s contribution to GDP, double exports of telecom products and services, create 1 million jobs and increase investment and Research & Development (R&D) expenditure by 2030.
• Key priorities for the telecom sector include domestic component manufacturing, localisation, joint ventures, technology transfer, integrated industrial clusters, export-oriented segments, testing and certification, and skill development.
• Solar Photovoltaic (PV) Sector: India had 106 Gigawatts (GW) of installed solar capacity by March 2025 and needs to add around 174 GW to achieve the 280 GW solar capacity target by 2030.
• India’s domestic solar PV market, valued at around ₹32,400 crore (USD 3.7 billion), is projected to grow at a 17–20% Compound Annual Growth Rate (CAGR) during Fiscal Year 2023–Fiscal Year 2030.
• Key priorities for solar PV manufacturing include upstream manufacturing capabilities, technology partnerships, joint ventures, R&D, performance-linked support, integrated clean-tech clusters, industry-led skilling and reduced import dependence.

Prime Minister Narendra Modi announced a Nationwide Sports Talent Identification Campaign for Children Aged 5–15 Years

• Prime Minister Narendra Modi announced a nationwide sports talent identification campaign for children aged 5–15 years to identify and nurture young sporting talent across India.
• The campaign will be conducted across villages, cities and schools, with special attention to identifying talented girls.

Key Highlights

• The initiative is part of India’s preparations for a potential bid to host the 2036 Olympic Games.
• PM Modi highlighted that India is moving forward as a strong contender to host the 2036 Olympics and will host the Commonwealth Games in 2030.
• The campaign will assess the abilities of identified children and provide specialised training to develop them into athletes capable of representing India at the highest level.
• PM Modi noted that the Olympic Games feature around 40 sports and 325–350 events, while India currently does not participate or qualify in nearly two-thirds of these events, highlighting the need to expand participation across sporting disciplines.
• India’s sports ecosystem has been strengthened through initiatives such as Target Olympic Podium Scheme (TOPS), Khelo India Games, University Games, Winter Games and Beach Games, along with investments in sports infrastructure, coaching, sports medicine and nutrition.
• The expansion of the sports ecosystem is also expected to generate employment opportunities in coaching, sports medicine, nutrition and other sports-support services.
• PM Modi announced the implementation of Pradhan Mantri Viksit Bharat Rojgar Yojana, a ₹1 lakh crore initiative aimed at creating employment opportunities for approximately 3.5 crore youth.
• Under the employment scheme, ₹15,000 will be provided to young people entering private-sector employment, while companies creating additional employment opportunities will receive incentives.
• India’s startup ecosystem now has more than 2.5 lakh registered startups under the Startup India initiative.
• PM Modi also highlighted the government’s ₹1 lakh crore Innovation Fund to support young entrepreneurs and encourage innovation.
• A new initiative for free online coaching for competitive examinations was announced to reduce the financial burden of coaching classes on families by leveraging digital public infrastructure, teaching talent and technology.
• PM Modi called for a collective national effort towards a “Nasha Mukt Bharat” to address drug abuse among young people.

Supreme Court Urges 19 States and Union Territories to Consider Declaring Cancer a Notifiable Disease

• The Supreme Court of India has asked the remaining 19 States and Union Territories (UTs) to consider declaring cancer as a “notifiable disease” to facilitate early detection, timely treatment and proper care of cancer patients.
• A Bench headed by Chief Justice of India Surya Kant issued the direction.
• 17 of the 36 States and Union Territories have already notified cancer as a notifiable disease, following recommendations of a Parliamentary Standing Committee.

Key Highlights

• The direction came while hearing a Public Interest Litigation (PIL) seeking the declaration of cancer as a notifiable disease across India.
• The Central Government informed the Court that health is a State subject and that 17 States have already taken the decision.
• The Supreme Court directed the remaining 19 States and UTs to consider the recommendations and take appropriate decisions, and also asked them to file compliance affidavits.
• The Court further sought measures for implementing cancer screening across the country.

Gujarat Releases 20 Blackbucks into Banni Grasslands to Restore Native Wildlife

• The Gujarat Forest Department released 20 blackbucks into the Banni Grasslands of Kutch, Gujarat, on India’s 80th Independence Day, with technical support from the Greens Zoological Rescue and Rehabilitation Centre (GZRRC), Vantara.
• The 20 blackbucks comprised 5 males and 15 females, transferred from Vantara’s facility in Jamnagar after obtaining approvals from the Chief Wildlife Warden of Gujarat and the Central Zoo Authority (CZA).

Key Highlights

• Before release, the animals underwent veterinary examination, health screening, quarantine and disease surveillance, followed by prescribed protocols for safe and humane transportation and release.
• The initiative aims to restore native wildlife and the ecological character of the Banni Grasslands, strengthen the herbivore community, support natural predator-prey relationships and build a more resilient grassland ecosystem.
• Banni Grassland is a vast grassland ecosystem in Kutch, Gujarat, supporting pastoral communities and diverse native wildlife, including blackbuck, chinkara, nilgai and wild boar.
• The recovery of native herbivores, along with habitat conservation and scientific grassland management, is expected to strengthen biodiversity and ecological balance in the Banni landscape.
• The Banni release is part of a broader Gujarat-wide programme to strengthen native herbivore populations, under which the Central Government, through the Ministry of Environment, Forest and Climate Change (MoEFCC), has approved the translocation of 500 blackbucks and 100 chinkara.
• The Chief Wildlife Warden, Gujarat has been directed to oversee the translocation exercise, while the Banni Grassland Forest Division has enlisted Vantara’s technical support.
• Vantara’s support includes specialised herbivore transport vehicles, portable boma systems, veterinary expertise and assistance in safe handling and transportation.
• The initiative forms part of India’s broader efforts towards native species restoration, grassland ecosystem conservation, prey-base strengthening, scientific wildlife management and community participation, with Project Cheetah cited as an example of this wider conservation approach.
• The Banni blackbuck release has a distinct objective of rebuilding native wildlife populations of the grasslands, separate from prey-base augmentation activities associated with cheetah reintroduction.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Dev Vrat
• Capital: Gandhinagar
• National Parks: Gir, Blackbuck, Gulf of Kutch (Marine), Vansda National Parks
• Wildlife Sanctuaries: Nal Sarovar Bird, Wild Ass, Kutch Desert, Barda, Purna Wildlife Sanctuaries

RECENT NEWS

• The Pithora painting of Gujarat, an ancient wall painting practice of the Rathwa tribe of Gujarat, has received a GI tag, representing a landmark achievement in the conservation of India’s unique tribal art. 

India Constitutes High-Powered Committee to Review Teesta Barrage Project in West Bengal

• India has constituted a 12-member high-powered committee to examine the restoration and future management of the Teesta Barrage Project (TBP) in West Bengal, including the strengthening of the barrage and associated infrastructure.
• The committee was constituted on 10 July 2026 and is chaired by the Chairman of the Central Water Commission (CWC), with a mandate to submit its report within 6 months.
• The committee includes representatives from Sikkim and West Bengal at the Joint Secretary level or equivalent.

Key Highlights

• The committee will assess current water utilisation, future water demand, water availability, siltation and management of the Teesta River Basin, while also examining the impact of climate change.
• It will examine measures to develop climate-resilient strategies, strengthen the existing barrage and associated infrastructure, increase the carrying capacity of the Teesta and its drainage channels and improve overall river-basin management.
• The committee will also study regulatory measures governing water releases from upstream dams and storage facilities, including the Gajaldoba Barrage.
• The Joint Detailed Technical Study, aimed at preparing a Teesta River Basin Comprehensive Management Plan, held its first meeting on 6 August 2026.
• The development comes amid growing Chinese involvement in Bangladesh’s plans for the Teesta River, including technical cooperation for the management and restoration of the river.
• Bangladesh has sought Chinese involvement in a long-pending Teesta project aimed at improving flood control, irrigation, river navigation and dry-season water availability.
• Bangladesh has described the Teesta Barrage Master Plan as a national priority, giving the issue an additional geopolitical dimension alongside its existing water-management significance between India and Bangladesh.
• The Teesta River originates in the Himalayas, flows through Sikkim and West Bengal and then enters Bangladesh, making its management important for both India and Bangladesh.

About West Bengal:

• Chief Minister: Suvendu Adhikari
• Governor: N. Ravi
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Gorumara National Park, Singalila National Park, Neora Valley National Park, Buxa National Park
• Wildlife Sanctuaries: Senchal Wildlife Sanctuary, Buxa Wildlife Sanctuary, Raiganj Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Chintamani Kar Bird Sanctuary, Lothian Island Wildlife Sanctuary, West Sundarban Wildlife Sanctuary

RECENT NEWS

• The West Bengal government has approved the implementation strategy of the Pradhan Mantri Cha Shramik Protsahan Yojana which allows for a special assistance package worth ₹313.3 crores aimed at uplifting the conditions of tea garden workers in the North Bengal region.

CURRENT AFFAIRS: AWARDS AND HONOURS

Gaj Gaurav Awards 2026 Conferred for Contributions to Elephant Conservation

• The Gaj Gaurav Awards 2026 were conferred during the national celebrations of World Elephant Day in Visakhapatnam, Andhra Pradesh.
• The ceremony was hosted by the Ministry of Environment, Forest and Climate Change (MoEFCC) to recognise frontline contributions to elephant conservation and management.

Key Highlights

• Kirti Vardhan Singh, Minister of State for Environment, Forest and Climate Change, presented the awards.
• Seven mahouts from Jaldapara National Park, West Bengal, received the Gaj Gaurav Awards 2026 for their contribution to flood-rescue operations.
• Bikash Kharia and Rajiv Oraon rescued and protected 6 stranded captive elephants during severe floods.
• Ajibul Haque, Ajit Gabur, Momtaz Alam, Amasur Kharia and Dilip Munda helped guide 13 displaced wild rhinoceroses to safety.
• The Ministry released “30 Giant Steps”, highlighting 30 achievements and policy initiatives under Project Elephant during 2020–2026.
• A Regional Action Plan for Comprehensive Understanding and Management of Human–Elephant Conflict in Southern India was launched for Karnataka, Kerala, Andhra Pradesh and Tamil Nadu, with a ₹500 crore financial commitment from the Government of India.
• World Elephant Day is observed annually on 12 August to promote elephant conservation and protection.
• Project Elephant is a Centrally Sponsored Scheme of the Government of India aimed at elephant conservation and habitat protection.
• Jaldapara National Park is located in West Bengal and is known for its Indian one-horned rhinoceros and elephant populations.
• Konidala Pawan Kalyan, Deputy Chief Minister of Andhra Pradesh, attended the event as Guest of Honour and introduced H.A.N.U.M.A.N., a technology-driven wildlife monitoring initiative associated with wildlife monitoring and conflict management in Andhra Pradesh.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Nepal Sign Memoranda of Understanding for 8 Development Projects under High Impact Community Development Projects

• The Embassy of India in Nepal and various Government of Nepal bodies signed Memoranda of Understanding (MoUs) for the implementation of 8 development projects in education, health and agriculture.

Key Highlights

• The projects will be implemented using Indian grant assistance through local government entities and institutions under the Government of Nepal.
• The 8 projects have a combined estimated value of 803 million Nepali Rupees.
• The projects have been selected under India’s High Impact Community Development Projects (HICDPs) framework and will be implemented across different regions of Nepal.
• The agreements were signed between the Embassy of India in Kathmandu, Nepal’s Ministry of Land Management, Cooperatives, Federal Affairs and General Administration, and the designated project implementation authorities.
• The initiatives aim to strengthen development in the key priority sectors of health, education and agriculture.

Andhra Pradesh Signs Memorandum of Understanding for Lithium-Gallium Exploration and Mining Technology Development

• The Andhra Pradesh Government signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research–National Geophysical Research Institute (CSIR-NGRI) for detailed exploration of lithium and gallium deposits in the Vempalle area of the Kadapa Basin.

Key Highlights

• Preliminary studies by CSIR-NGRI around Thummalapalle indicated the presence of lithium and gallium minerals in the Kadapa Basin.
• The estimated concentration of lithium is up to 1,000 parts per million (ppm), while gallium is estimated at up to 250 ppm.
• The MoU will facilitate detailed geological studies and assessment of the mineral potential of the region.
• The exploration project will be fully funded by the National Mineral Exploration Trust (NMET), with an estimated cost of around ₹140 crore.
• The Andhra Pradesh Government also signed an MoU with Indian Institute of Technology (Indian School of Mines), Dhanbad–TEXMiN to promote research, advanced technology and skill development in the State’s mining sector.
• Under the agreement, IIT (ISM) Dhanbad will establish a Centre of Excellence for Mining in Andhra Pradesh.
• The Centre of Excellence will focus on strengthening mining research, adoption of advanced technologies and development of skilled human resources.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ashish Singh Appointed Managing Director and Chief Executive Officer of Manappuram Finance for Five-Year Term from January 2027

• Ashish Singh has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of Manappuram Finance Limited for a five-year term starting from 1 January 2027.
• Ashish Singh will succeed P. Nandakumar, who has been serving as the company’s Managing Director and CEO and will retire from his executive position.
• P. Nandakumar will continue as Managing Director and Chairman of Manappuram Finance until 31 December 2026 and will thereafter become the company’s Non-Executive Chairman.
• The leadership transition comes after Bain Capital’s investment and joint control in Manappuram Finance, marking an important phase in the company’s new leadership structure.
• Before joining Manappuram Finance, Ashish Singh served at IDFC FIRST Bank as Head – Retail Liabilities from May 2025.
• Earlier, Singh led the Bharat Banking business at IDFC FIRST Bank for around nine years from 2016 to 2025.
• During his tenure in Bharat Banking, Singh gained experience in retail banking initiatives, customer acquisition, distribution networks, and business growth.
• Earlier in his career, Ashish Singh held leadership positions at Fullerton India Credit Company Ltd. and ICICI Bank.
• His professional experience includes rural finance, product development, strategic initiatives, cross-selling, channel innovation, customer acquisition, retail liabilities, and business development.
• Singh’s career across banking and financial services has provided him with broad exposure to retail banking and rural lending, which is expected to support his leadership of Manappuram Finance.
• His appointment comes at a significant time when banks and Non-Banking Financial Companies (NBFCs) are increasingly focusing on digital capabilities, customer-centric products, wider distribution networks, and technology-led growth.

Natarajan Chandrasekaran to Leave Tata Sons Chairmanship in February 2027

• Natarajan Chandrasekaran stepped down as the Executive Chairman of Tata Sons Private Limited after completing his current term on 20 February 2027.
• Natarajan Chandrasekaran was first appointed as Chairman of Tata Sons in February 2017, following the removal of Cyrus Mistry.
• He was reappointed as Chairman in 2022 and served as the head of the Tata Group’s holding company until the completion of his term.
• Chandrasekaran joined Tata Consultancy Services (TCS) as an intern in 1987, beginning a nearly 40-year association with the Tata Group.
• During his career with the Tata Group, he played a key role in expanding the group into digital businesses, aviation, electronics manufacturing and the semiconductor ecosystem.
• He became the Chief Executive Officer (CEO) and Managing Director (MD) of TCS in 2009.
• As CEO and MD of TCS, Chandrasekaran helped transform TCS into India’s most valuable Information Technology (IT) company.
• Under his leadership at Tata Sons, major initiatives included the merger of Tata Global Beverages with Tata Chemicals’ consumer businesses.
• The Tata Group under his leadership completed the acquisition of Air India in 2022, marking a major expansion of the group in the aviation sector.
• Other major initiatives included the integration of BigBasket, 1mg, Croma and Tata Neu into the broader Tata ecosystem.
• Chandrasekaran also oversaw the merger of Tata Motors’ auto finance business with Tata Capital.

About Tata Sons :

• Founded : 1868, incorporated as a company in 1917
• Headquarters : Mumbai, Maharashtra.
• Tata Sons serves as the holding and principal investment holding company of the Tata Group.

Manohar Lal Paliwal Appointed Part-Time Non-Official Director of UCO Bank

• UCO Bank has appointed Chartered Accountant Shri Manohar Lal Paliwal as a Part-Time Non-Official Director on its Board of Directors.
• The appointment was made through Central Government nomination and became effective from 12 August 2026.
• Manohar Lal Paliwal will serve as a Part-Time Non-Official Director for a tenure of three years from the date of the Central Government notification or until further orders, whichever is earlier.
• As a Chartered Accountant, Paliwal brings professional financial and accounting expertise to the Board of UCO Bank.
• As a Non-Official Director, Paliwal will contribute to Board deliberations and provide an independent perspective on the bank’s operations, governance, and strategic matters.
• His induction forms part of UCO Bank’s Board-level governance framework and strengthens the bank’s institutional and governance structure.
• The appointment adds to the ongoing evolution of UCO Bank’s Board composition as the state-owned lender focuses on strengthening corporate governance and institutional frameworks.

About UCO Bank :

• Founded : 6 January 1943
• Headquarters : Kolkata, West Bengal, India
• MD & CEO : Ashwani Kumar

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

National Company Law Tribunal Introduces Digital e-Inspection and e-Certified Copy Services

• The National Company Law Tribunal (NCLT) launched its electronic (e)-Inspection and e-Certified Copy Services in New Delhi, Delhi to provide faster digital access to judicial records.
• The new digital services have been introduced under the e-Courts 2.0 initiative, aimed at improving transparency, efficiency, and accessibility in the judicial system.
• The services were inaugurated virtually by Justice Anupinder Singh Grewal, President of the NCLT.
• The e-Inspection Service enables registered users to inspect case records online through the NCLT e-Filing portal.
• The e-Certified Copy Service enables registered users to submit requests online and receive approved certified documents digitally, reducing the need for physical visits.
• The new system provides faster, convenient, transparent, and trackable access to judicial records for stakeholders.
• The digital services form part of the NCLT’s broader digital transformation programme, which also includes a revamped NCLT website to strengthen digital infrastructure and improve user experience.
• A data-driven mechanism has been introduced to monitor case pendency, support workload redistribution, and facilitate the establishment of Special Benches wherever required.
• The NCLT has also incorporated improved case registration and listing guidelines to streamline judicial processes and reduce delays.
• The digitalisation initiative is expected to reduce physical visits, improve case-management efficiency, and strengthen transparency and accountability in the functioning of the tribunal.

About National Company Law Tribunal (NCLT) :

• The NCLT is a quasi-judicial body in India that deals with matters relating to companies and corporate law.
• The NCLT was established on 1 June 2016 under Section 408 of the Companies Act, 2013 (Act 18 of 2013).

About Ministry of Corporate Affairs :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Harsh Malhotra

Fractal Analytics Beta Launches India’s First Healthcare AI Model Under IndiaAI Mission

• Fractal Analytics has launched Vaidya AI, an India-focused healthcare reasoning model under the IndiaAI Mission, with beta testing beginning in Mumbai.
• The pilot is being conducted in partnership with the Brihanmumbai Municipal Corporation (BMC) and will provide a Health AI Chatbot on WhatsApp powered by Vaidya AI.
• During the initial pilot, the chatbot will use healthcare datasets from six BMC facilities, including two major hospitals, to provide citizens with quick and reliable healthcare information.
• The initiative is expected to be expanded across various BMC healthcare facilities, ranging from dispensaries to major hospitals, including KEM, with a privacy-first architecture.
• The chatbot will generate easy-to-understand summaries of laboratory reports in English, Marathi, and other languages, improving access to medical information for citizens.
• The chatbot will identify nearby BMC healthcare facilities based on the user’s healthcare needs and provide health and wellness information through a conversational interface.
• In the future, Vaidya AI is expected to provide AI-guided pre-consultation support for doctors by highlighting patient complaints, self-reported medical history, and medication details before consultations.
• The planned pre-consultation system will use follow-up queries by the Large Language Model (LLM) on health conditions or ailments identified by patients.
• Vaidya AI will also support a Public Health Intelligence Dashboard for healthcare administrators by providing anonymised and aggregated insights from laboratory reports.
• The dashboard is intended to help healthcare authorities identify emerging health trends across Mumbai and strengthen public-health decision-making.
• The BMC healthcare network handles more than 8 million Outpatient Department (OPD) visits and generates more than 3 million laboratory reports annually, highlighting the potential scale of the initiative.
• The Vaidya AI initiative is designed to improve healthcare accessibility, enhance patient experience, support healthcare professionals, and strengthen public-health decision-making.
• The model combines multilingual and multimodal capabilities with Responsible AI principles, making it suitable for diverse healthcare information requirements.
• Vaidya AI has reportedly become the world’s first AI model to score above 50 on OpenAI’s HealthBench (Hard), outperforming GPT-5 and Gemini Pro 3.

JSW Neo Energy and DGPC Sign Pact to Develop 920 MW Punatsangchhu-III Hydroelectric Project

• JSW Neo Energy Limited (JSWNEL), a subsidiary of JSW Energy, and Bhutan’s Druk Green Power Corporation Limited (DGPC) have signed an agreement to jointly develop the 920 MW Punatsangchhu-III Hydroelectric Project.
• The Punatsangchhu-III Hydroelectric Project will be located on the Punatsangchhu River in Wangdue Phodrang District, Bhutan.
• The project will be developed through a Special Purpose Joint Venture (JV) company on a Build-Own-Operate-Transfer (BOOT)
• Under the proposed joint venture, Druk Green Power Corporation (DGPC) will hold a 51% stake, while JSW Neo Energy will hold the remaining 49% stake.
• The 920 MW project will strengthen India–Bhutan energy cooperation, particularly in the area of renewable power development.
• The Punatsangchhu-III project marks JSW Neo Energy’s first power generation venture outside India, making it an important step in the company’s international expansion.
• JSW Neo Energy will make an initial investment of BTN 245 million for the project.
• The Detailed Project Report (DPR) for the hydroelectric project is being prepared jointly by JSW Neo Energy and DGPC.
• The project is expected to contribute to renewable energy generation and deepen cooperation between India and Bhutan in the energy sector.
• Druk Green Power Corporation Limited (DGPC) is the Bhutanese partner in the Punatsangchhu-III Hydroelectric Project.

About JSW Energy :

• Established : 1994
• Headquarters : Mumbai, Maharashtra.
• JSW Energy is described as India’s largest private hydropower generator.

Bharat Heavy Electricals Limited and Norway’s Hystar AS Partner for Local Proton Exchange Membrane Electrolyser Manufacturing in India

• Bharat Heavy Electricals Limited (BHEL) and Norway-based Hystar AS entered into a strategic collaboration for the phased indigenisation and local manufacturing of Proton Exchange Membrane (PEM) electrolyser systems for green hydrogen projects in India.
• The collaboration was signed in New Delhi, Delhi, by Srinivas Rao, Executive Director, Heavy Power Equipment Plant, Hyderabad, Sutripto De, General Manager & Head, New & Renewable Energy Business, BHEL, and Fredrik Mowill, Chief Executive Officer (CEO) of Hystar AS, Norway.
• The partnership will enable BHEL to offer both PEM and alkaline electrolyser solutions, strengthening its capabilities in the green hydrogen technology sector.
• BHEL’s new PEM electrolyser capability will complement its earlier collaboration with thyssenkrupp nucera India Private Limited for alkaline electrolyser systems.
• Hystar AS will contribute its high-efficiency PEM electrolyser technology, while BHEL will leverage its expertise in engineering, manufacturing, and project execution.
• The collaboration is aimed at supporting India’s emerging green hydrogen ecosystem through advanced clean-energy technology and increased domestic manufacturing.
• The partnership will strengthen BHEL’s contribution to the National Green Hydrogen Mission (NGHM) by promoting green hydrogen production, clean-energy technology, and indigenous manufacturing.
• The collaboration also supports the Make in India initiative by promoting the local production of electrolyser systems and reducing dependence on imported clean-energy technologies.
• A PEM electrolyser uses electricity to split water into hydrogen and oxygen through a Proton Exchange Membrane, making it an important technology for producing green hydrogen when renewable electricity is used.

About BHEL :

• Established : 1964
• Headquarters : New Delhi, India.
• Chairman and Managing Director (CMD) : K. Sadashiva Murthy

Indian Space Promotion and Authorization Centre Approves India’s First Indigenous Commercial Earth Observation Satellite Constellation Under Public Private Partnership Model

• Union Minister of State (MoS) Dr. Jitendra Singh, Department of Space (DoS), informed the Lok Sabha that Indian Space Promotion and Authorization Centre (IN-SPACe) has approved and signed an agreement for India’s first indigenous, fully commercial Earth Observation (EO) satellite constellation under the Public Private Partnership (PPP) model.
• The agreement has been signed with the Allied Orbits Private Limited Consortium, which is led by PixxelSpace India Private Limited and includes Dhruva Space Private Limited, PierSight Space Private Limited, and Satsure Analytics India Pvt. Ltd.
• The consortium will design, build, own and operate a 12-satellite Earth Observation constellation supported by indigenous ground infrastructure.
• The constellation will provide panchromatic, multispectral, hyperspectral, and Synthetic Aperture Radar (SAR) observation capabilities.
• The consortium will invest more than ₹1,200 crore for developing the Earth Observation constellation, which is expected to be developed and operationalised by 2029.

Key Highlights :

• Under the PPP framework, Non-Government Entities (NGEs), including private companies, start-ups, academic institutions, and research institutions, can design, build, own and operate EO satellite constellations on an end-to-end basis.
• The satellite-manufacturing component includes 5 ultra-high-resolution optical satellites with 4 bands, 3 multispectral satellites with 8 bands, 2 hyperspectral optical satellites with 250 bands, and 2 X-band SAR satellites.
• All satellites under the consortium’s programme are to be manufactured domestically, while Indian launch vehicles, including private/ISRO launch vehicles, will be used to place the satellites into orbit.
• The consortium will establish ground stations, mission control, data reception, and data-processing infrastructure in India.
• The PPP framework also promotes downstream applications, including value-added products, analytics, and decision-support tools for Government departments, strategic users, and commercial customers.
• The framework encourages collaboration with academic and research institutions for capacity building and application development in the Earth Observation sector.
• The Government has established an Antariksh Venture Capital Fund of ₹1,000 crore to catalyse private investment in the space sector.
• The Technology Adoption Fund (TAF) has an outlay of ₹500 crore and provides financial support of up to 60% of project cost for start-ups/MSMEs and up to 40% for larger industries, subject to a maximum of ₹25 crore per project.
• The TAF is intended to support the commercialisation of early-stage space technologies, including technologies related to Earth Observation.
• The Seed Fund Scheme provides grants of up to ₹1 crore to start-ups and NGEs for space applications such as agriculture, disaster management, urban planning, and marine domain awareness.
• The Government has allocated ₹500 crore for Common Technical Facilities and is also supporting State Governments in establishing Space Manufacturing Clusters.
• A differential pricing policy has been introduced for NGEs purchasing Indian satellite data to provide greater demand certainty for Earth Observation data and services.
• ISRO’s Transfer of Technology (ToT) mechanism enables NGEs to access technologies related to satellite subsystems and launch vehicle technologies.
• IN-SPACe provides facilitation support through Resident Experts, who offer technical assistance to industry at no cost, along with a Pre-Incubation Entrepreneurship Development Programme.
• IN-SPACe functions as the nodal authorisation, promotion and facilitation body for NGE space activities, including Earth Observation missions, through an institutional single-window mechanism.
• These measures are supported by the Indian Space Policy 2023, which provides the overarching regulatory and ease-of-doing-business framework for private participation in India’s space sector.

CURRENT AFFAIRS : OBITUARIES

Eminent Modern Indian Historian Sumit Sarkar Passed Away at 87

• Eminent Marxist historian and scholar of modern Indian history Sumit Sarkar passed away at the age of 87 in New Delhi due to age-related ailments.

About Sumit Sarkar :

• Sumit Sarkar was widely regarded as a leading scholar of Indian nationalism, colonialism and the Indian freedom movement, particularly from the perspective of different social groups, classes and popular movements.
• He was born in 1939 to noted historian Sushobhan Sarkar.
• He began his teaching career as a Lecturer at the University of Calcutta and later served as a Reader at the University of Burdwan.
• His longest academic tenure was as a Professor of History at the University of Delhi, where he taught History for several years.
• He was also a Fellow of Wolfson College, Oxford, and served as a Visiting Professor at several prestigious universities in the United States and Europe.
• His important works include The Swadeshi Movement in Bengal, 1903–1908 (1973), Modern India: 1885–1947 (1989) and Writing Social History (1998).
• He also co-edited Women and Social Reform in Modern India (2007) and Caste in Modern India (2013) with his wife and historian Tanika Sarkar.
• As a Marxist historian, Sumit Sarkar was particularly known for his studies of the Swadeshi Movement and for challenging conventional, leader-centred interpretations of Indian nationalism.
• He was one of the founding members of the Subaltern Studies Collective, although he later became a critic of the Subaltern Studies approach.
• His scholarship established him as an authoritative voice in modern Indian history, especially in examining nationalism and the freedom struggle through the experiences of ordinary people and different social groups.
• In 2003, he received the Sarit Chatterjee Memorial Award from the Indian History and Culture Society for his contribution to the study of the Indian freedom movement.
• In 2004, he received the Rabindra Puraskar for his book Writing Social History.
• Sumit Sarkar returned the Rabindra Puraskar in 2007 in protest against the treatment of farmers by the CPI(M)-led Left Front government in West Bengal.

Kirti Chakra Awardee Major General Sunil Kumar Razdan Passed away at 70

• Major General Sunil Kumar Razdan (Retd), a decorated Indian Army officer and recipient of the Kirti Chakra and Vishisht Seva Medal (VSM), passed away at the age of 70 in New Delhi, Delhi.

About Major General Sunil Kumar Razdan :

• Major General Sunil Kumar Razdan was known for his distinguished military service, exceptional courage and resilience.
• He was born on 8 October 1954 at Happy Valley, in present-day Shillong, Meghalaya.
• He served in the 7th Battalion, The Parachute Regiment (Special Forces) (7 PARA SF), an elite unit of the Indian Army.
• In 1994, then Lieutenant Colonel Sunil Kumar Razdan led a counter-terrorist operation in Jammu & Kashmir against Lashkar-e-Taiba (LeT) terrorists who were holding young women hostage.
• During the operation, Razdan displayed exceptional courage and selflessness, neutralised two terrorists and ensured the safe rescue of the hostages.
• During the operation, he suffered multiple gunshot wounds to the abdomen, which severely injured his spine and left him paralysed below the waist.
• Despite suffering severe and life-altering injuries, Razdan demonstrated remarkable determination and resilience and refused to allow his physical condition to end his military career.
• He continued serving in the Indian Army despite his disability and progressed through the ranks, eventually becoming a Colonel, Brigadier and Major General.
• His determination and continued military service made him the Indian Army’s first wheelchair-borne General.
• Major General Razdan was awarded the Kirti Chakra for his extraordinary courage and sacrifice during the 1994 counter-terrorist operation in Jammu & Kashmir.
• The Kirti Chakra is India’s second-highest peacetime gallantry award, presented for exceptional courage, bravery and sacrifice.
• He was also awarded the Vishisht Seva Medal (VSM) for his exceptional military service.

Daily CA One- Liner: August 18

• India and Nepal have agreed to complete the mapping of cross-border land occupation within three years, addressing a long-standing technical issue along their shared boundary
• The Karnataka Cabinet approved the ‘Sandhya Kiran’ cashless healthcare scheme for State Government pensioners below 70 years, family pensioners and eligible dependents
• NITI Aayog released the report titled “Key Sectors to Position India as a Global Manufacturing Hub”, identifying high-potential sectors that can help India become a global manufacturing powerhouse
• Prime Minister Narendra Modi announced a nationwide sports talent identification campaign for children aged 5–15 years to identify and nurture young sporting talent across India
• The Supreme Court of India has asked the remaining 19 States and Union Territories (UTs) to consider declaring cancer as a “notifiable disease” to facilitate early detection, timely treatment and proper care of cancer patients
• The Gujarat Forest Department released 20 blackbucks into the Banni Grasslands of Kutch, Gujarat, on India’s 80th Independence Day, with technical support from the Greens Zoological Rescue and Rehabilitation Centre (GZRRC), Vantara
• India has constituted a 12-member high-powered committee to examine the restoration and future management of the Teesta Barrage Project (TBP) in West Bengal, including the strengthening of the barrage and associated infrastructure
• The Gaj Gaurav Awards 2026 were conferred during the national celebrations of World Elephant Day in Visakhapatnam, Andhra Pradesh.
• The Embassy of India in Nepal and various Government of Nepal bodies signed Memoranda of Understanding (MoUs) for the implementation of 8 development projects in education, health and agriculture
• The Andhra Pradesh Government signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research–National Geophysical Research Institute (CSIR-NGRI) for detailed exploration of lithium and gallium deposits in the Vempalle area of the Kadapa Basin
• The Securities and Exchange Board of India (SEBI) has proposed introducing a mandatory colour-coded Credit Risk-o-Meter for debt securities to help investors assess and compare credit risk more easily before investing.
• Fraud involving Public Sector Banks (PSBs) increased sharply by 58% in value to ₹35,671 crore in FY 2025-26, compared with ₹22,582 crore in FY 2024-25.
• Bank of Baroda (BoB) has concluded the issuance of Senior Unsecured Fixed Rate Notes (FRNs) with three-year and five-year maturities, raising a total of USD 700 million under Regulation S.
• The International Financial Services Centres Authority (IFSCA) granted an Investment Banking licence to Nexent Capital IFSC Private Limited (Nexent Capital) to operate from GIFT City, Gandhinagar, Gujarat.
• Ashish Singh has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of Manappuram Finance Limited for a five-year term starting from 1 January 2027.
• Natarajan Chandrasekaran stepped down as the Executive Chairman of Tata Sons Private Limited after completing his current term on 20 February 2027.
• UCO Bank has appointed Chartered Accountant Shri Manohar Lal Paliwal as a Part-Time Non-Official Director on its Board of Directors.
• The National Company Law Tribunal (NCLT) launched its electronic (e)-Inspection and e-Certified Copy Services in New Delhi, Delhi to provide faster digital access to judicial records.
• Fractal Analytics has launched Vaidya AI, an India-focused healthcare reasoning model under the IndiaAI Mission, with beta testing beginning in Mumbai.
• JSW Neo Energy Limited (JSWNEL), a subsidiary of JSW Energy, and Bhutan’s Druk Green Power Corporation Limited (DGPC) have signed an agreement to jointly develop the 920 MW Punatsangchhu-III Hydroelectric Project.
• Bharat Heavy Electricals Limited (BHEL) and Norway-based Hystar AS entered into a strategic collaboration for the phased indigenisation and local manufacturing of Proton Exchange Membrane (PEM) electrolyser systems for green hydrogen projects in India.
• Union Minister of State (MoS) Dr. Jitendra Singh, Department of Space (DoS), informed the Lok Sabha that Indian Space Promotion and Authorization Centre (IN-SPACe) has approved and signed an agreement for India’s first indigenous, fully commercial Earth Observation (EO) satellite constellation under the Public Private Partnership (PPP) model.
• Eminent Marxist historian and scholar of modern Indian history Sumit Sarkar passed away at the age of 87 in New Delhi due to age-related ailments.
• Major General Sunil Kumar Razdan (Retd), a decorated Indian Army officer and recipient of the Kirti Chakra and Vishisht Seva Medal (VSM), passed away at the age of 70 in New Delhi, Delhi.