Author: News Desk

Union Finance Minister Nirmala Sitharaman has urged public sector banks to increase their outreach among Non-Resident Indians (NRIs) and develop new deposit products to attract more foreign currency inflows into India. Sitharaman made the remarks during a meeting with Managing Directors and Chief Executive Officers of banks and public financial institutions in New Delhi. The discussion focused on Foreign Currency Non-Resident (Bank) deposits and Overseas Foreign Currency Borrowings swap initiatives. The Finance Minister highlighted the need for stronger NRI engagement to maintain the momentum in foreign currency mobilisation and improve India’s external sector resilience. Banks Review Progress Under RBI Swap…

The India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force on July 15, 2026, ushering in one of the most significant trade partnerships between the two countries. The agreement is expected to make a wide range of British products more affordable in India while giving Indian exporters unprecedented access to the UK market. Under the agreement, tariffs on several British imports—including Scotch whisky, gin, chocolates, biscuits, cosmetics, medical devices, luxury cars, salmon, and aerospace components—will be reduced in phases, making these products more competitively priced for Indian consumers. For India, the biggest gain is that 99% of its…

NASA astronaut Dr. Anil Menon has embarked on his first mission to the International Space Station (ISS) aboard the Soyuz MS-29 spacecraft. The mission marks a major milestone in his career as he joins Expedition 74/75 for an approximately eight-month stay in orbit, where he will conduct scientific research, technology demonstrations, and studies on human health in space. Although born and raised in the United States, Anil Menon’s family traces its roots to Palakkad, Kerala, giving the district a special place in India’s growing space story. A former emergency medicine physician, U.S. Air Force colonel, NASA flight surgeon, and SpaceX’s…

India has launched an ambitious defence technology programme to develop indigenous stratospheric airships capable of carrying out long-duration surveillance and intelligence missions, with several private sector companies being considered for the high-tech project. The initiative, led by the Directorate of Operations (Remote) of the Indian Air Force (IAF), aims to create Air Ship-based High Altitude Pseudo Satellite (AS-HAPS) systems that can operate at altitudes above 20 kilometres. These advanced platforms are expected to bridge the gap between high-altitude drones and low Earth orbit satellites by providing continuous monitoring, communication support and intelligence-gathering capabilities. ₹15,000 Crore Project Under Make in India…

Akasa Air is planning to raise around ₹1,050 crore ($110 million) through a combination of equity and debt as the airline looks to strengthen its financial position and continue its expansion plans amid challenges caused by the Iran conflict and rising operational costs. The Mumbai-based airline has approached existing investors as well as two new investors to raise around ₹800 crore through equity, according to people familiar with the matter. The airline is also in discussions with state-run banks to secure at least ₹250 crore in debt under the government’s credit support programme for airlines affected by the conflict. The…

Amid the ongoing debate over ethanol-blended E20 petrol, Union Road Transport and Highways Minister Nitin Gadkari has said that motorists cannot accurately determine their vehicle’s fuel efficiency on their own and should instead rely on tests conducted by authorised dealerships. Speaking in an interview with ABP News, Gadkari responded to a journalist who claimed that her car’s mileage had dropped significantly after switching to E20 petrol. The journalist said her car, purchased in 2023 and expected to be E20-compatible, was earlier delivering around 11 km per litre in city driving but had recently fallen to about 7 km per litre.…

Tata Capital has announced the acquisition of an 88.6% stake in Kerala-based Yogakshemam Loans Limited (Yogloans), marking its entry into India’s rapidly expanding gold loan market. The acquisition will be completed through a combination of purchasing shares from existing shareholders and a primary capital infusion of around ₹93 crore, subject to regulatory approvals. The transaction values Yogloans at a pre-money equity valuation of up to ₹318 crore. The acquisition aligns with Tata Capital’s strategy of expanding and diversifying its retail lending business by adding a secured lending product with strong growth potential. Gold loans have witnessed rising demand in recent…

The Defence Metallurgical Research Laboratory (DMRL), a premier laboratory under the Defence Research and Development Organisation (DRDO), has invited applications for its six-month paid internship programme for 2026. The internship is open to eligible final-year undergraduate and postgraduate students pursuing engineering and science courses at recognised Indian institutions. Selected candidates will receive a monthly stipend of ₹5,000 during the internship period. The internship offers students an opportunity to work on advanced research projects in defence and metallurgical technologies under the guidance of DRDO scientists. Through hands-on exposure to cutting-edge research, participants will gain practical experience in areas related to defence…

The Reserve Bank of India (RBI), under Governor Sanjay Malhotra, is reportedly planning to reopen the licensing window for new Urban Co-operative Banks (UCBs), marking a significant policy shift after more than two decades. The move comes as the central bank believes the sector has become financially stronger following years of regulatory reforms and improved governance. The RBI had suspended the issuance of new UCB licences in 2004 after several newly licensed co-operative banks became financially weak within a short period. Since then, the regulator has introduced stricter supervision, a tiered regulatory framework, and governance reforms aimed at improving the…

The Ministry of Railways has approved the recruitment of 4,098 technical personnel across railway zones as part of its efforts to strengthen operational safety and improve efficiency. The vacancies span 35 technical categories, including several roles that are considered critical to the safe functioning of the railway network. Key positions include Junior Engineers, Depot Material Superintendents, Chemical and Metallurgical Assistants, and other technical roles essential for railway infrastructure maintenance and operations. The recruitment decision was taken after assessing vacancies reported by various railway zones through the Human Resource Management System (HRMS). Among the identified vacancies, the Permanent Way category accounts…