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Rahul Rasgotra appointed ITBP chief; Nina Singh becomes first woman to head CISF

Intelligence Bureau officer Rahul Rasgotra got the charge of the Indo-Tibetan Border Police (ITBP), Nina Singh becomes the 1st woman to head the Central Industrial Security Force.

Anish Dayal Singh has been made the Director General of the Central Reserve Police Force (CRPF).

Vivek Srivastav has been appointed Director General, Fire Service, Civil Defence and Home Guards.

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Central Reserve Police Force (CRPF) is the world's largest paramilitary force.

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Government issues notice to nine offshore cryptocurrency platforms for non-compliance under Prevention of Money Laundering Act

The Financial Intelligence Unit India has issued compliance show cause notices to nine offshore Virtual Digital Assets Service Providers. Virtual Digital Assets Service Providers were brought into the ambit of Anti Money Laundering, Counter Financing of Terrorism (AML-CFT) framework under the provisions of the Prevention of Money Laundering Act, 2002 in March 2023.

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RBI tweaks D-SIB designation methodology, inserts digital payments aspect

The Reserve Bank of India has revised the methodology for designating a bank as a Domestic Systemically Important Bank (D-SIB) by incorporating digital payments, value as well as volumes, under the substitutability indicator in the assessment.

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RBI nod for I-Pru AMC and I-Pru Life to acquire 9.95% stake in RBL Bank

The Reserve Bank of India has accorded its approval to ICICI Prudential Asset Management Company Ltd. and ICICI Prudential Life Insurance Company Limited to acquire an aggregate holding of up to 9.95 per cent of the paid-up share capital or voting rights in RBL Bank Ltd. The approval has been granted with reference to the application made by I-Pru AMC and IPru Life to RBI.

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India makes first-ever rupee payment for the purchase of crude oil from UAE

India, the world's third-largest energy consumer, made its first-ever payment in rupees for crude oil purchased from the United Arab Emirates, signalling what could be a strategic push to promote the local currency globally. The move is part of India's broader efforts to diversify oil suppliers, cut transaction costs, and establish the rupee as a viable trade settlement.

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RBI reshuffles classification of domestic systemically important banks; SBI, HDFC Bank move to higher buckets

Reserve Bank of India issued its list of Domestic Systemically Important Banks (D-SIBs), in which it moved State Bank of India (SBI) and HDFC Bank to higher buckets, while ICICI Bank continues to be continues to be in the same bucketing structure as last year.

Based on the bucket in which a D-SIB is placed, an additional common equity requirement has to be applied to it.

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PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

The production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 95,000 crore in investment till September this year, an official statement said. According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes.

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Bengal researchers discover plant-growth promoting bacteria, name it after visionary Tagores

A group of researchers from Visva-Bharati University's botany department have discovered a bacteria capable of boosting plant growth and named it 'Pantoea Tagorei' after Nobel laureate Rabindranath Tagore. The bacteria has immense potential to revolutionise agricultural practices, microbiologist Bomba Dam, assistant professor at the varsity’s botany department said.

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Banks log 12.2% growth in FY23, gross bad loans down for 5th year: RBI report

The consolidated balance sheet of scheduled commercial banks (SCBs) expanded in 2022-23 by 12.2%, the Reserve Bank of India (RBI) said in its Report on Trend and Progress of Banking in India 2022-23, released on December 27. The expansion was driven by credit to retail and services sectors, the report said. Deposit growth also rose; this, however, trailed credit growth.

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Reliance Jio joins hands with IIT Bombay to launch Bharat GPT, to bring OS for smart TVs

Jio is set to launch its new AI project Bharat GPT, in a joint venture with Indian Institute of Technology (IIT) Bombay. Jio is planning to introduce its AI project across all the segments of its company, stretching across all the sectors of the society. Ambani said that the next 10 years will be defined by large-language models and generative AI.

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ONDC partners with Google, Meta to reach small businesses

Ministry of commerce-backed e-commerce protocol Open Network for Digital Commerce (ONDC) announced two separate partnerships with Google and Meta, to expand its outreach to small businesses through Google Maps and WhatsApp. This, in turn, will help the service scale up its net transactions per month among consumers and large enterprises alike.

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Pakistan successfully tests Fatah-II guided multi-launch rocket system

Pakistan's military wing Inter-Services Public Relations (ISPR) claimed it had successfully conducted the flight test of Fatah-II, a guided multi-launch rocket system (MLRS). Equipped with state-of-the-art avionics and navigation system, Fatah-II is capable of engaging targets with high precision up to a range of 400 kilometres.

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