Author: News Desk

Jio Financial Services Ltd has acquired full ownership of Jio Payments Bank Limited (JPBL) after purchasing over 7.90 crore equity shares from the State Bank of India (SBI) for ₹104.54 crore. The acquisition, approved by the Reserve Bank of India on June 4, 2025, was completed on June 18. With this deal, JPBL is now a wholly owned subsidiary of Jio Financial Services. Move Follows Earlier Disclosure Jio Financial had previously announced in March its intent to acquire SBI’s 17.8% stake in JPBL. The recent transaction officially completes that move, further consolidating Reliance Group’s financial services arm under Mukesh Ambani’s…

Tata Sons and Air India Chairman N. Chandrasekaran, in his first public remarks since the crash of Air India flight AI 171, expressed deep sorrow over the tragedy that claimed over 270 lives. He stated, “I have no words to console the families. I deeply regret that this happened in a Tata-run airline.” He added that Air India is committed to supporting the affected families now and in the long term. Incident Details The London-bound Boeing 787-8 Dreamliner crashed shortly after taking off from Ahmedabad. The aircraft collided with a medical college complex less than a minute after departure. Probe…

The University of Aberdeen has received approval from the Indian government to move forward with its proposal to open an overseas campus in Mumbai. A detailed business case will be presented to the university’s governing body next month for final approval. Course Offerings and TimelineIf approved, the new campus will begin operations by September next year. Initial academic offerings will include programs in computing, data science, artificial intelligence, business, and economics. Strategic Importance of IndiaAccording to Prof. Siladitya Bhattacharya, vice-principal for global engagement, India has always been a key focus in the university’s international strategy. This includes goals related to…

The National High Speed Rail Corporation Limited (NHSRCL) has awarded a major contract to a consortium led by Siemens for implementing signalling and telecommunication systems for India’s first bullet train corridor between Mumbai and Ahmedabad. Key Consortium Partners The selected consortium includes Siemens Limited, Siemens Mobility GmbH, and Dineshchandra R Agrawal (DRA) Infracon Pvt. Ltd. This group will be responsible for designing, installing, and maintaining advanced train control and communication systems. Advanced Technology Integration Under this ₹4,100 crore project, Siemens will install the European Train Control System (ETCS) Level 2-based signalling. This system enables high-speed travel up to 350 km/h,…

Sahakar Taxi Cooperative Limited has been officially registered under the Multi-State Cooperative Societies Act. It will operate in Delhi, Uttar Pradesh, Gujarat, and Maharashtra. Unlike traditional ride-hailing companies, this platform will be owned and managed by its members—primarily the taxi drivers themselves. Backed by Major Cooperative Institutions The initiative is promoted by the National Cooperative Development Corporation (NCDC) and supported by top Indian cooperatives including Amul, NAFED, NABARD, IFFCO, KRIBHCO, NDDB, and NCEL. Each of the eight institutions has pledged ₹10 crore, contributing to an authorized share capital of ₹300 crore, with ₹80 crore already committed. Uber-Like App with a…

Railway Minister Ashwini Vaishnaw has announced the introduction of 50 new Namo Bharat trains and 100 new Mainline Electric Multiple Units (MEMUs). These are intended to improve short-distance travel across India. The new trains are part of Indian Railways’ plan to enhance passenger experience, especially for non-suburban routes. About Namo Bharat Trains The Namo Bharat train, previously called the Vande Metro, is a self-propelled, fully air-conditioned train based on the Vande Bharat platform. Designed for shorter inter-city journeys, it offers premium travel options for regular passengers. Each 12-coach train can carry 1,150 seated and 2,058 standing passengers. Key Features and…

Bharat Forge Ltd. has signed a memorandum of understanding (MoU) with French defence company Turgis Gaillard to acquire the technology for Aarok, a Medium Altitude Long Endurance (MALE) class unmanned aerial vehicle. The agreement, disclosed via a regulatory filing, marks Bharat Forge’s entry into the high-end drone manufacturing space. Indigenous Production Line for Aarok As part of the collaboration, Bharat Forge will set up a local production line for Aarok UAVs. This move aligns with India’s defence self-reliance goals and strengthens the company’s footprint in aerospace technology. Advanced Features of Aarok UAV The Aarok UAV is designed for high-altitude, long-range surveillance…

Akash Ambani and Anant Ambani have emerged as India’s richest individuals according to the 360 ONE Wealth Creators List 2025. Both sons of Reliance Industries chairman Mukesh Ambani, Akash and Anant have reported personal wealth of ₹3.59 lakh crore each. Their sister, Isha Ambani, ranks third on the list with a net worth of ₹3.58 lakh crore, making her the richest woman in the country. Mukesh Ambani Ranked Lower Due to Methodology Mukesh Ambani himself is ranked at number 348 on the list with a personal net worth of ₹4,730 crore. This is due to the report’s focus on individual holdings…

Kochi Metro Rail Limited (KMRL) has submitted a detailed feasibility study for a Water Metro project in Mumbai, inspired by the successful Kochi Water Metro model. The proposal outlines a 250-km waterway network across the Mumbai Metropolitan Region (MMR), featuring 29 terminals and 10 routes. Official Acknowledgement and Next Steps The report was officially received by Maharashtra Ports and Fisheries Minister Nitish Rane. He has instructed relevant departments to begin preliminary actions toward implementing the project. A senior KMRL official noted that the Maharashtra government is expected to entrust KMRL with preparing the Detailed Project Report (DPR) as well. Connectivity…

Prime Minister Narendra Modi met Italian Prime Minister Giorgia Meloni on the sidelines of the 51st G7 Summit held in Kananaskis, Canada. Both leaders expressed mutual interest in strengthening the bilateral relationship between India and Italy. PM Modi shared his optimism about deeper cooperation that would benefit both countries. #Melodi Trend Continues on Social Media The friendly interaction between PM Modi and PM Meloni once again attracted attention on social media. A video from the summit showed them greeting each other warmly and sharing a brief conversation. Their rapport has gained popularity under the trending hashtag #Melodi, a blend of…