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Sumit Nagal becomes first ever Indian to win main draw match in Monte Carlo Masters

Indian tennis player Sumit Nagal stuns 35th ranked Matteo Arnaldi and becomes first ever Indian to win main draw match at Monte Carlo Masters. He defeated Arnaldi. The unseeded 95th-ranked Nagal, is only the third Indian to feature in the main draw in Monte Carlo after Vijay Amritraj in 1977 and Ramesh Krishnan in 1982.

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He became the first-ever male Indian singles player to win a Masters 1000 match on clay.

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Private equity firm Bain Capital to sell remaining Axis Bank holding

Private equity firm Bain Capital will offload its remaining 1.08 per cent stake (33.37 million shares) in Axis Bank. The price range for the share sale has been set at Rs 1,071 – Rs 1,076 per share, a discount of up to 0.47 per cent to Axis Bank’s last close of Rs 1,076 per share. BofA Securities India is the sole investment bank handling the transaction.

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Air India, BIAL sign agreement to develop Bengaluru airport as hub

Air India and Bangalore International Airport Limited (BIAL) announced that they have signed a pact to develop the Bengaluru airport as an aviation hub, encompassing the construction of a dedicated domestic lounge, expansion of international services, and establishment of a maintenance, repair, and overhaul (MRO) facility.

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Air India, BIAL sign agreement to develop Bengaluru airport as hub

Air India is wholly owned by the Tata Group, while AIX Connect and Air India Express are its wholly-owned subsidiaries. Vistara, a 51:49 joint venture between the Tata Group and Singapore Airlines, is currently undergoing a merger into Air India. The Bengaluru airport is operated by Fairfax-run BIAL.

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Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals

Piramal Alternatives, the investment arm of Piramal Group, has announced an investment of Rs 110 crore in Biodeal Pharmaceuticals. Biodeal is a contract development and manufacturing organisation. The investment is aimed at fuelling Biodeal's development of solutions, enhancing its production capabilities, and operations, positioning it as a leading nasal spray manufacturer

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Centre appoints Manoj Panda as member of 16th Finance Commission

The government has appointed Manoj Panda, former director at the Institute of Economic Growth as the full time member of the 16th Finance Commission. The 16th Finance Commission held its first meeting under the Chairmanship of Arvind Panagariya to discuss its terms of reference on February 14.

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Centre appoints Manoj Panda as member of 16th Finance Commission

The other full-time members of the Commission include Ajay Narayan Jha, member of 15th FC and former secretary of Expenditure and Annie George Mathew, former special secretary of Expenditure. Soumya Kanti Ghosh, group chief economic advisor of State Bank of India was appointed as the part-time member of the Commission.

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Centre appoints Manoj Panda as member of 16th Finance Commission

The Finance Commission is a constitutionally-mandated body established once every five years to devise a formula for distributing net tax proceeds between the Centre and the states as well as among states and local bodies. Currently, India shares 41 per cent of federal taxes with states as recommended by the 15th panel.

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Indian Army gets portable Igla-S Air defence system

The Indian Army has received the first batch of 24 Russia-made Igla-S Man Portable Air Defence Systems (MANPADS), along with 100 missiles, as part of a larger deal that includes domestic production in India. The Igla-S system is being acquired to enhance the Indian Army’s Very Short Range Air Defence (VSHORAD) capabilities.

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Indian Army gets portable Igla-S Air defence system

The Igla-S is a hand-held defence system that can be operated by an individual or crew. It is designed to bring down low-flying aircraft and can also identify and neutralise air targets such as cruise missiles and drones. India signed a contract with Russia in November last year for 120 launchers and 400 missiles.

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Tata's made-in-India military-grade satellite successfully placed in orbit by SpaceX rocket

Tata Advanced Systems (TASL), Tata Sons' wholly-owned subsidiary, has launched India’s first private sector-built sub-metre resolution earth observation satellite, TSAT-1A, in collaboration with Satellogic. The satellite was launched from the Kennedy Space Center, Florida, by SpaceX Falcon 9 rocket.

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Tata's made-in-India military-grade satellite successfully placed in orbit by SpaceX rocket

TSAT-1A will provide high-resolution satellite images with low-latency delivery. The Indian armed forces are expected to be one of its major users. This is the first sub-metre high-resolution earth observation satellite by the private sector in India. The satellite, weighing less than 50 kg, is in low-earth orbit.

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India eyes 100 GW nuclear power by 2047: AEC chairman

India aims to increase its nuclear power production to 1 lakh MW by 2047, a significant jump from the current 8,000 MW. This goal was highlighted by Atomic Energy Commission Chairman A K Mohanty at the release of a report on energy transitions. The report emphasized the need for nuclear power in India's energy transition.

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India eyes 100 GW nuclear power by 2047: AEC chairman

He said the breeder reactors would contribute 3 GW of nuclear power, while 17.6 GW would come from light water reactors built with international cooperation and another 40-45 GW would come from the pressurised heavy water reactors.

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Zimbabwe launches new gold-backed currency - ZiG

Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold". It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years. The ZiG replaces a Zimbabwean dollar, the RTGS, that had lost three-quarters of its value so far this year.

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Zimbabwe launches new gold-backed currency - ZiG

The new ZiG banknotes come in denominations of between 1 and 200. Zimbabweans have a historic mistrust of the central bank, dating back to 2008, when it was printing Z$10tn notes while inflation had run out of control.

It then abolished its own currency and for many years only used foreign banknotes such as the US dollar and the South African rand.

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SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups

The Society For Innovation & Entrepreneurship (SINE), IIT Bombay and Canara Bank entered into a Memorandum of Understanding (MoU) to provide financial support to startups. Under its Canara Start-Up Scheme, Canara Bank is providing financial support for the creation, promotion, diversification, and modernization of industrial units across India.

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SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups

SINE, as a technology business incubator, offers comprehensive incubation and acceleration support from start to finish for technology startups.

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Coastal security exercise 'Sagar Kavach' conducted off Lakshadweep Islands

A two-day exercise involving all maritime security agencies of the country was conducted off the Lakshadweep Islands from April 1-2. During the exercise, validation of the effectiveness of coastal security mechanisms while dealing with asymmetric threats emanating from the sea was undertaken.

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Coastal security exercise 'Sagar Kavach' conducted off Lakshadweep Islands

Assets of the Indian Navy, Coast Guard, Marine Police, fisheries, customs and other security agencies were engaged in the coastal security exercise -- Sagar Kavach 01/24. The exercise witnessed enhanced preparedness, response mechanism, surveillance capabilities and coordination between the coastal security stakeholders.

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