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C-DOT and Silizium Circuits signs agreement for “Design and Development of LEO Satellite Components and GNSS RF Front End ASIC”

The Centre for Development of Telematics (C-DOT), the premier Telecom R&D centre of the Department of Telecommunications (DoT), Government of India has signed an agreement with Silizium Circuits Pvt Ltd a fabless Semiconductor IP & SoC Startup under FABCI(Fabless Chip Design Incubator) IIT Hyderabad for the “Design and Development of LEO Satellite Components,

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C-DOT and Silizium Circuits signs agreement for “Design and Development of LEO Satellite Components and GNSS RF Front End ASIC”

and GNSS RF Front End ASIC”.

The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India. This scheme, designed to fund Indian startups, academia, and R&D institutions, is a crucial enabler for designing, developing, and commercializing telecommunication products and solutions.

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C-DOT and Silizium Circuits signs agreement for “Design and Development of LEO Satellite Components and GNSS RF Front End ASIC”

It aims to enable affordable broadband and mobile services, playing a significant role in bridging the digital divide across India.

This initiative aims to drive innovation in India’s satellite communication ecosystem by addressing key challenges such as power efficiency, high-speed data transmission, and robust signal integrity.

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Gati Shakti Vishwavidyalaya and Indian Navy sign MoU for Logistics related Education, Research and Training.

Gati Shakti Vishwavidyalaya, Vadodara has signed a Memorandum of Understanding (MoU) with the Indian Navy in New Delhi. The MoU aims at enhancing logistics-related education, research, and training for the Indian Navy.

The collaboration is set to strengthen the Indian Navy's logistical framework by focusing on supply chain management, multimodal transportation,

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Gati Shakti Vishwavidyalaya and Indian Navy sign MoU for Logistics related Education, Research and Training.

and sustainability in logistics. It also aligns with national development initiatives such as the PM Gati Shakti National Master Plan 2021 and the National Logistics Policy 2022.

The MoU facilitates the exchange of expertise and case studies in areas such as AI applications, predictive analytics, and blockchain technology to elevate logistics practices.

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RBI’s Foreclosure Guidelines on MSME Loans Implications for NBFCs.

The Union Budget 2024 incorporates numerous initiatives for MSMEs, particularly for manufacturing units, to boost the sector’s long-term growth and profitability. One of these initiatives is the Credit Guarantee Scheme, where MSMEs in manufacturing can access collateral-free loans with a guarantee of up to INR 100 crore, shared Jugal Mantri,

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RBI’s Foreclosure Guidelines on MSME Loans Implications for NBFCs.

Chief Executive Officer, Anand Rathi Global Finance, in an exclusive interaction with Srajan Agarwal of Elets News Network (ENN).

In the recent MPC meeting of the RBI, it was stated that banks and NBFCs cannot levy foreclosure charges or pre-payment penalties on MSMEs. A draft circular on this matter is also expected to be issued for public consultation.

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RBI’s Foreclosure Guidelines on MSME Loans Implications for NBFCs.

As per the present RBI guidelines, NBFCs are not permitted to charge any pre-payment penalties or foreclosure charges on floating-rate term loans given to Individual borrowers for nonbusiness purposes.

For NBFCs, foreclosure charges or prepayment charges are one of the important aspects of managing its liquidity and commitment to the funds raised for onward lending.

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RBI’s Foreclosure Guidelines on MSME Loans Implications for NBFCs.

NBFCs will also have to forgo future income in the event of a greater foreclosure if there is no urgent need for financing. Besides, NBFCs will also forgo the foreclosure charges which is a source of income for them.

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Rs. 12.3 lakh crore: Indian banks' loan write-off in past 10 years.

Indian commercial banks wrote off Rs. 12.3 lakh crore in loans between the 2014-15 and 2023-24 financial years, according to government data presented in Parliament. Public sector banks accounted for Rs. 6.5 lakh crore of these write-offs in the last five years (FY20-24).

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Rs. 12.3 lakh crore: Indian banks' loan write-off in past 10 years.

Write-offs peaked at Rs. 2.4 lakh crore in FY19 following an asset quality review. They dropped to Rs. 1.7 lakh crore in FY24, representing 1% of the total outstanding bank credit. Public sector banks hold a 51% share of new loans, down from 54% in FY23.

As of September 30, 2024, gross non-performing assets (NPAs) for public sector banks were Rs. 3,16,331 crore

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Rs. 12.3 lakh crore: Indian banks' loan write-off in past 10 years.

3.01% of outstanding loans), and Rs. 1,34,339 crore (1.86% of outstanding loans) for private sector banks. State Bank of India wrote off Rs. 2 lakh crore during the ten-year period, while Punjab National Bank wrote off Rs. 94,702 crore. Public sector banks wrote off Rs. 42,000 crore in the first half of the current fiscal year.

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LazyPay Unveils ‘LazyPay EMI’ to Simplify High-Value Purchases.

LazyPay, a prominent digital financial services provider under PayU, has launched a new feature, ‘LazyPay EMI’, in partnership with PayU Finance. The initiative aims to make high-value online purchases more accessible and affordable for consumers across India, eliminating the need for a credit card.

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LazyPay Unveils ‘LazyPay EMI’ to Simplify High-Value Purchases.

With LazyPay EMI, consumers can finance purchases ranging from Rs. 5,000 to Rs. 1 lakh and repay in flexible tenures spanning 3 to 12 months. This offering extends LazyPay’s mission to deliver seamless checkout experiences and caters to a broader spectrum of merchants and consumers.

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LazyPay Unveils ‘LazyPay EMI’ to Simplify High-Value Purchases.

Having established a strong foothold with low average ticket size (ATS) merchants like Swiggy, Zepto, Zomato, BookMyShow, and Meesho, LazyPay is now venturing into higher ATS categories such as travel, education, health & wellness, and insurance.

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RBL Bank Reappoints R Subramaniakumar as MD & CEO for Three Years.

RBL Bank’s Board of Directors has approved the reappointment of R Subramaniakumar as the Managing Director and Chief Executive Officer (MD & CEO) for a further period of three years, effective June 23, 2025. The reappointment is subject to approval from the Reserve Bank of India (RBI).

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RBL Bank Reappoints R Subramaniakumar as MD & CEO for Three Years.

The bank confirmed that it will seek regulatory approval by submitting an application to the RBI under Section 35B of the Banking Regulation Act, 1935.

Subramaniakumar, who was initially appointed as MD & CEO in June 2022, became the second public sector banker after Prashant Kumar to head a private sector bank.

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RBL Bank Reappoints R Subramaniakumar as MD & CEO for Three Years.

His leadership at RBL Bank began during a challenging phase when the RBI appointed an additional director to the bank’s board, following the departure of the erstwhile MD & CEO Vishwavir Ahuja amidst concerns over the bank’s financial health.

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About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

Only about four out of ten users in rural and semi-urban India have the country’s real-time payments system, Unified Payments Interface (UPI), as a preferred mode of transaction, with about two only preferring cash, according to a joint report by EY and CII.

However, UPI is the most favoured mode of financial transactions in such regions.

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About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

Over 400 million users transact using the payments ecosystem, either transacting to peers (peer-to-peer) or merchants (peer-to-merchant).

On an average, the National Payments Corporation of India (NPCI) has recorded over 14.13 billion transactions per month in 2024.

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About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

According to the report, about 11 per cent of respondents polled in its survey did not prefer UPI as a mode of payment in rural and semi-urban geographies in the country. The survey polled 1,033 respondents, out of which 73 per cent were from rural areas and 22 per cent were women.

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About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

The sample included users from geographies such as Delhi, Tamil Nadu, Karnataka, Maharashtra, West Bengal, Uttar Pradesh, Bihar and North East.

On an average, about 94 per cent of Indians have access to a smartphone, signalling strong penetration of devices and potential to expand the footprint of digital transactions.

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About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

Despite strong adoption of smartphones and affordable telecom coverage, more than 86 per cent of bank account holders in rural and semi-urban India prefer visiting branches highlighting reliance on traditional banking channels.

When it comes to credit, 60 per cent rely on formal banking channels.

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CCI approves the acquisition of certain stake of Speed JVco S.à r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer).

The Competition Commission of India has approved the acquisition of certain stake of Speed JVco S.à r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer). The Proposed Combination involves the acquisition of certain stake of the Target by the Acquirer.

Acquirer is an investment holding company and does not engage in any business operation other than holding investments.

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CCI approves the acquisition of certain stake of Speed JVco S.à r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer).

It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek).

Temasek is an investment company headquartered in Singapore. Temasek’s global portfolio covers a broad spectrum of industries including transportation; financial services; telecommunications,media & technology; consumer & real estate; life sciences & agri-food; and multi-sector funds.

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Sebi eases norms for boarding of investment advisors, research analysts

The Securities and Exchange Board of India (Sebi) has introduced major changes in the norms governing investment advisors and research analysts (RAs), relaxing requirements on minimum qualification, experience, mandatory examination to be passed periodically, and net worth requirements.

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Sebi eases norms for boarding of investment advisors, research analysts

Market regulator has made the changes at a time when the number of registered investment advisors (RIAs) has come down to less than 1000.

The changes, approved in the September board meeting, have now been notified, introducing the amendments in regulations governing both RIA and RAs.

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Sebi eases norms for boarding of investment advisors, research analysts

The changes reduce compliance requirements to encourage more players under the regulatory fold. The new norms also allow registrations for part-time investment advisors and research analysts. Further, trading calls have been excluded from the definition of “investment advice”.

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Sebi eases norms for boarding of investment advisors, research analysts

The minimum qualification has been reduced to graduation while the requirement for prior experience has been done away with. While base certifications from NISM will be required initially for registration, the need for repeating the base examination subsequently has been removed.

The net worth requirements have also been replaced with a reduced requirement of deposits.

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Sebi eases norms for boarding of investment advisors, research analysts

Additionally, individual investment advisors who have over 300 clients or if their fee collection is over Rs 3 crore in a financial year will have to apply for in-principle registration as non-individual investment adviser. Till now, this was limited to only 150 clients. For part-time advisors, the limit has been set at 75 clients.

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Sebi eases norms for boarding of investment advisors, research analysts

RIAs and RAs will also have to disclose to the clients if they are using artificial intelligence tools.

Research analysts will also have to do KYC of their fee-paying clients. Further, the family of an individual research analyst is restricted from providing distribution services to the same clients.

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Sebi eases norms for boarding of investment advisors, research analysts

Sebi has also called for group level segregation of businesses in case of non-individual RA.

Sebi has also specified the applicability of norms on those offering model portfolios.

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RBI imposes monetary penalty on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of Rs. 1.00 lakh (Rupees One Lakh only) on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’.

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RBI imposes monetary penalty on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of Rs. 1.00 lakh (Rupees One lakh only) on The Bhadran People’s Co-operative Bank Ltd., Dist. Anand, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’.

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RBI imposes monetary penalty on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat.

The Reserve Bank of India imposed a monetary penalty of Rs. 5.96 lakh on Vaishya Sahakari Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Priority Sector Lending (PSL) - Targets and Classification’ and specific directions issued by RBI on making contribution to the MSE Refinance Fund due to shortfall in achievement of PSL.

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RBI imposes monetary penalty on Tarapur Co-operative Urban Bank Ltd., Dist. Anand, Gujarat.

The Reserve Bank of India (RBI) has, by an order dated December 13, 2024, imposed a monetary penalty of Rs. 15.00 lakh (Rupees Fifteen lakh only) on SBPP Co-operative Bank Limited, Killa Pardi (Dist. Valsad) (the bank), for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs’.

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PM Modi inaugurates & lays foundation stone of 24 development projects worth over Rs. 46,300 crore in Rajasthan.

Prime Minister Narendra Modi today inaugurated and laid the foundation stone of 24 projects related to power, road, railway and water worth more than Rs 46,300 crore in Jaipur.

He inaugurated 9 projects worth more than Rs 11,000 crore, which include 7 projects of the Central Government and 2 projects of the State Government.

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PM Modi inaugurates & lays foundation stone of 24 development projects worth over Rs. 46,300 crore in Rajasthan.

These projects also include the Parvati, Kalisindh, Chambal Link Project, which is important for Rajasthan and Madhya Pradesh. The MOA for this project was signed between Madhya Pradesh and Rajasthan in the presence of the Prime Minister.

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Wholesale inflation drops to 1.9% in November as food prices cool.

India's wholesale price inflation eased to 1.9% in November, down from 2.4% in October, due to moderating food prices. Retail inflation also slowed to 5.5% in November. Experts predict further easing and potential rate cuts by the Reserve Bank of India.

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Wholesale inflation drops to 1.9% in November as food prices cool.

While core inflation remained subdued, food inflation, particularly in manufactured food products and oils, remains elevated.

On an average, wholesale inflation accelerated to 2.1% in fiscal 2024-25 till November, compared with a contraction of 1.3% in the corresponding period last year.

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Riya Shirish Thatte clinches Gold medal in Women’s 25m Pistol Final of 67th National Shooting Championship Competitions.

In Shooting, Riya Shirish Thatte of Aurangabad clinched the gold medal in the women’s 25m pistol final of the 67th National Shooting Championship Competitions in New Delhi.

She defeated Punjab’s Simranpreet Kaur Brar 7-2 in a shoot-off after both had tied at 31 hits in the eight series of five-shots decider. This is Riya’s first senior national title.

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Riya Shirish Thatte clinches Gold medal in Women’s 25m Pistol Final of 67th National Shooting Championship Competitions.

Olympian and former Asian Games champion Rahi Sarnobat was third with 25 hits.

The shotgun and pistol competitions of the National Shooting Championship are being held in New Delhi, while Bhopal is holding the rifle nationals.

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