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Satya Nadella unveils Microsoft’s largest investment in India: $3 bn for AI and skilling.

In a move to deepen its presence in India, Microsoft Chairman and CEO Satya Nadella announced a $3 billion investment in cloud and artificial intelligence (AI) infrastructure and skilling initiatives over the next two years. The announcement, made during the Microsoft AI Tour in Bengaluru, underscores the tech giant’s commitment to bolstering India’s digital economy and,

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Satya Nadella unveils Microsoft’s largest investment in India: $3 bn for AI and skilling.

aligns with Prime Minister Narendra Modi’s vision of a developed nation (“Viksit Bharat”) by 2047.

The investment, the largest by Microsoft in India to date, will span the Central, South, and West regions, Jio India West, Jio India Central and include the establishment of new data centers.

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Satya Nadella unveils Microsoft’s largest investment in India: $3 bn for AI and skilling.

With its latest investment, Microsoft is reinforcing India’s position as a key player in the global AI revolution, paving the way for widespread adoption and localized innovation. Nadella also highlighted that India will have the largest developer community on GitHub by 2028.

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Satya Nadella unveils Microsoft’s largest investment in India: $3 bn for AI and skilling.

As part of its ADVANTA(I)GE India program’s second edition,Microsoft plans to train 10 million people in AI skills over the next five years, aiming to enhance the country’s long-term competitiveness, emphasised India’s rising prominence in the AI landscape, highlighting the rapid adoption of multi-agent frameworks and innovations tailored to Indian languages and Industries.

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IREDA Achieves 'Excellent' Rating for Fourth Consecutive Year in MoU Performance.

Indian Renewable Energy Development Agency Limited (IREDA) has achieved ‘Excellent’ rating for the performance MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, with a score of 98.24 (rounded off 98). This marks the fourth consecutive year that IREDA has received ‘Excellent’ rating,

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IREDA Achieves 'Excellent' Rating for Fourth Consecutive Year in MoU Performance.

showcasing its unwavering commitment to operational excellence and highest standards of corporate governance.

In the previous three years, IREDA consistently delivered exceptional results, achieving an ‘Excellent’ rating with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22 and 96.93 in FY 2020-21.

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PLI Scheme 1.1 Launched by Union Steel and Heavy Industries Minister Shri H.D. Kumaraswamy.

Union Minister of Steel and Heavy Industries, Shri H. D. Kumaraswamy, launched the second round of PLI scheme for Specialty Steel, termed as PLI Scheme 1.1 on January 6th, 2025, in the presence of senior officials from the ministry and captains from the industry at Vigyan Bhavan New Delhi.

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PLI Scheme 1.1 Launched by Union Steel and Heavy Industries Minister Shri H.D. Kumaraswamy.

PLI Scheme 1.1 covers five (5) product categories in line with the existing PLI Scheme, namely Coated / Plated Steel Products, High Strength / Wear resistant Steel, Specialty Rails, Alloy Steel Products & Steel wires and Electrical Steel. These products have a wide range of application, from white goods to transformers to Automobiles and other niche sectors.

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PLI Scheme 1.1 Launched by Union Steel and Heavy Industries Minister Shri H.D. Kumaraswamy.

The scheme will operate within the funds originally allocated for the scheme, i.e., Rs.6,322 crore.

The objective of the PLI scheme for specialty steel is to promote manufacturing of value-added steel grades within the country and help the Indian steel industry mature in terms of technology as well as move up the value chain.

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PLI Scheme 1.1 Launched by Union Steel and Heavy Industries Minister Shri H.D. Kumaraswamy.

In the first round, 44 projects by 26 companies are active with a committed investment of about Rs.27,106 crore and 24 million tonnes of downstream capacity creation. As of November 2024, the actual investment achieved is around Rs 18,300 crore with direct employment generation of around 8,300 nos. Ministry of Steel estimates that,

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PLI Scheme 1.1 Launched by Union Steel and Heavy Industries Minister Shri H.D. Kumaraswamy.

the payout for the participants in first round will be about Rs.2,000 crore.

PLI Scheme for specialty steel has brought the issue of developing self-reliance in production of specialty steel to the forefront. Country shall benefit from reduction in imports of specialty steel, achieving ‘Atmanirbharta’ through capacity creation, ensuring investments leading to job creation.

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V. Narayanan Takes Over as ISRO Chief and Space Secretary.

The Centre has appointed V Narayanan as the new chairman of the Indian Space Research Organisation and Secretary, Department of Space. Mr Narayanan will take over from S Somanath, the current head of the organisation, on January 14.

The Appointments Committee of the Cabinet said Mr Narayanan, who is the head of the Liquid Propulsion Systems Centre (LPSC),

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V. Narayanan Takes Over as ISRO Chief and Space Secretary.

Valiamala, will have a tenure of two years. Mr Narayanan, who will also be the Chairman of the Space Commission, played a key role in India's development of the cryogenic engine, a technology that was denied to the country.

Mr Narayanan is a distinguished scientist (APEX Scale) and seniormost director in ISRO.

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V. Narayanan Takes Over as ISRO Chief and Space Secretary.

The Liquid Propulsion Systems Centre, which he heads, is engaged in the development of liquid, semi-cryogenic and cryogenic propulsion stages for launch vehicles, chemical and electric propulsion systems for satellites, control systems for launch vehicles, and transducers development for space systems health monitoring.

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V. Narayanan Takes Over as ISRO Chief and Space Secretary.

He is also the Chairman of the Project Management Council-Space Transportation System (PMC-STS), the decision-making body in all launch vehicle projects and programmes, and the Chairman of the National Level Human Rated Certification Board (HRCB) for Gaganyaan, India's planned human spaceflight mission.

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V. Narayanan Takes Over as ISRO Chief and Space Secretary.

S Somanath took over as the ISRO chief in January 2022 and it was under him that India became the first country in the world to land a rover in the south pole region of the Moon. It also joined an elite club of countries to achieve a soft landing on the Moon, after the US, the former Soviet Union, and China.

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Asian Games gold medallist Bahadur Singh Sagoo elected Athletics Federation of India president.

Asian gold medalist shot-putter and Padma Shri Bahadur Singh Sagoo was elected as the new president of the Athletics Federation of India (AFI) on the opening day of its two-day Annual General Meeting in Chandigarh, even as outgoing president Adille Sumariwalla announced new events and future plans for the federation.

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Asian Games gold medallist Bahadur Singh Sagoo elected Athletics Federation of India president.

Bahadur, who won gold at the 2002 Asiad, was elected unanimously to replace Sumariwalla, who stepped down after three consecutive terms.

Delhi Athletics’ secretary Sandeep Mehta was elected as the new AFI Secretary General, replacing Ravinder Chaudhary.

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Asian Games gold medallist Bahadur Singh Sagoo elected Athletics Federation of India president.

The biggest announcement, however, was the institution of a major javelin competition to cater to and build on the interest in the event in the country.

India will host its first bronze-level continental tour event on August 10 in Bhubaneswar.

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Govt sees India's GDP growth hitting a 4-year low of 6.4% in FY25.

India's Gross Domestic Product (GDP) is projected to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from the 8.2% growth recorded in FY24, according to first advance estimates released by the government.

The projection is lower than the recent Reserve Bank estimate of 6.6 percent for the current fiscal year ending March 2025.

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Govt sees India's GDP growth hitting a 4-year low of 6.4% in FY25.

Releasing the first advance estimates of national income for 2024-25, the NSO said, "real GDP has been estimated to grow by 6.4 percent in FY2024-25 as compared to the growth rate of 8.2 percent in Provisional Estimate (PE) of GDP for FY2023-24".

The data also revealed that real Gross Value Added (GVA) is expected to expand by 6.4% in FY25, down from 7.2% in FY24.

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Govt sees India's GDP growth hitting a 4-year low of 6.4% in FY25.

In contrast, nominal GVA is projected to grow at 9.3% in FY25, slightly higher than the 8.5% growth in the previous fiscal year.

The figures point to a challenging economic landscape as the government prepares its fiscal roadmap for FY25.

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Nadi Tarangini, first ayurvedic diagnostic device, gets CDSCO nod.

Nadi Tarangini, an indigenously developed pulse diagnostic tool, has become India’s first ayurvedic medical device to receive approval from the Central Drugs Standard Control Organization (CDSCO), the national regulator for cosmetics, pharmaceuticals, and medical devices in the country.

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Nadi Tarangini, first ayurvedic diagnostic device, gets CDSCO nod.

The device is the brainchild of Padma Bhushan awardee Prof. J.B. Joshi, Chancellor of the Institute of Chemical Technology (formerly UDCT) and President of Marathi Vidnyan Parishad. It has been developed by Dr Aniruddha Joshi following over six years of research at IIT Bombay.

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Nadi Tarangini, first ayurvedic diagnostic device, gets CDSCO nod.

The duo shared details about the device at a press conference held in Pune. The price of Nadi Tarangini is Rs. 55,000 and its manufacturing company, Atreya Innovations, is based in Hinjewadi, Pune. At present, the company has the capacity to manufacture 5,000 Nadi Tarangini devices per year.

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Nadi Tarangini, first ayurvedic diagnostic device, gets CDSCO nod.

The company has recently received seed funding of Rs 5 crore, which the company will use for further research, setting up a distribution network, and increasing its production capacity.

During the process for the CDSCO certification, over 25,000 individuals were examined and a report was submitted.

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Bajaj Broking Partners with Tamilnad Mercantile Bank to Launch Unified Banking and Investment Services.

Bajaj Broking, the broking arm of Bajaj Finance Ltd., has announced a strategic collaboration with Tamilnad Mercantile Bank (TMB) to offer a seamless 3-in-1 account solution integrating banking, broking, and investment services. This partnership enables TMB customers to trade online with Bajaj Broking while accessing a diverse range of investment products and services.

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Bajaj Broking Partners with Tamilnad Mercantile Bank to Launch Unified Banking and Investment Services.

The 3-in-1 account solution simplifies fund transfers, minimizes paperwork, and offers a tech-driven interface for investing in various instruments. The initiative is designed to deliver an integrated and user-friendly platform to enhance the financial journey of customers.

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Bajaj Broking Partners with Tamilnad Mercantile Bank to Launch Unified Banking and Investment Services.

This partnership underscores the commitment of Bajaj Broking and Tamilnad Mercantile Bank to delivering innovative, customer-centric solutions and creating new business opportunities in the financial services space.

Manish Jain- Managing Director, Bajaj Broking.

Salee S.Nair- Managing Director & CEO, Tamilnad Mercantile Bank.

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State Bank of India Names Baldev Prakash as DMD & Group Chief Risk Officer.

The State Bank of India (SBI) has announced the appointment of Baldev Prakash as its Deputy Managing Director and Group Chief Risk Officer. This move comes after Prakash completed his three-year tenure as the Managing Director and Chief Executive Officer of Jammu and Kashmir Bank in December.

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State Bank of India Names Baldev Prakash as DMD & Group Chief Risk Officer.

In addition, SBI has entrusted Shiva Om Dikshit with a new role as Deputy Managing Director, Operations-Channel Management, further strengthening its leadership team.

Baldev Prakash brings over 30 years of extensive banking experience across various roles in small and large SBI branches.

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EXIM Bank Raises $1 Billion Through Overseas Bond Issuance.

EXIM Bank has successfully raised $1 billion (approximately Rs. 8,570 crore) through overseas bond issuance at highly competitive rates, marking a significant milestone for Indian issuers in global capital markets.

The funds will be used to support the bank’s ongoing and new initiatives worldwide, according to a statement issued.

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EXIM Bank Raises $1 Billion Through Overseas Bond Issuance.

The issuance was priced at US Treasury yields plus 1%, with a negative new issue concession of 0.05%.

The bond issue witnessed significant interest globally, with 50% of investors from Asia, 32% from Europe, the Middle East, and Africa, and 18% from the United States.

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EXIM Bank Raises $1 Billion Through Overseas Bond Issuance.

Asset and fund managers dominated the subscription pool, accounting for nearly two-thirds of the investors, followed by banks (18%), insurance and pension funds (16%), and other institutions.

EXIM Bank’s Managing Director- Harsha Bangari.

Deepali Agrawal- Deputy Managing Director of EXIM Bank.

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Bank of Baroda Expands Employee Assistance Program to Promote Emotional and Mental Well-being.

Bank of Baroda, one of India’s leading public sector banks, enhanced its “Employee Assistance Program” (EAP) to prioritise the emotional, mental, and psychological well-being of its over 75,000 employees and their families. Partnering with Truworth Wellness, the Bank has introduced an upgraded version of the EAP, reinforcing its commitment to a supportive work environment.

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Bank of Baroda Expands Employee Assistance Program to Promote Emotional and Mental Well-being.

The initiative focuses on addressing diverse emotional wellness needs through a range of holistic and technology-driven solutions:

Confidential and Personalised Counseling.

Multi-Mode Accessibility.

Digital Support.

Enhanced Tools.

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Bank of Baroda Expands Employee Assistance Program to Promote Emotional and Mental Well-being.

With this initiative, Bank of Baroda continues to set benchmarks in fostering a holistic wellness culture, strengthening its position as an employee-centric organization.

Rohit Chohan- Co-Founder & CEO of Truworth Wellness.

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Edelweiss Financial Services Launches Rs. 2,000 Million Public Issue of Secured Redeemable NCDs.

Edelweiss Financial Services Limited (EFSL) has announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) with a total issue size of up to Rs. 2,000 million. The offering includes a base issue of Rs. 1,000 million and a green shoe option to retain an additional Rs. 1,000 million.

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Edelweiss Financial Services Launches Rs. 2,000 Million Public Issue of Secured Redeemable NCDs.

The NCDs, priced at Rs. 1,000 each, will be available in twelve series with tenures of 24, 36, 60, and 120 months. Investors can choose from fixed coupons with annual, monthly, or cumulative interest payment options, offering an effective annual yield ranging from 9.50% to 11.00% per annum.

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Edelweiss Financial Services Launches Rs. 2,000 Million Public Issue of Secured Redeemable NCDs.

EFSL plans to allocate at least 75% of the funds raised to repay or prepay existing borrowings (interest and principal), with the remainder earmarked for general corporate purposes, subject to regulatory limits set by SEBI.

The NCDs have been rated “CRISIL A+/Negative,” reflecting the company’s moderate credit risk profile with a negative outlook.

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Edelweiss Financial Services Launches Rs. 2,000 Million Public Issue of Secured Redeemable NCDs.

The debentures will be listed on the Bombay Stock Exchange (BSE) to enhance liquidity for investors.

The public issue is being managed by Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited, and Tipsons Consultancy Services Private Limited.

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Edelweiss Financial Services Launches Rs. 2,000 Million Public Issue of Secured Redeemable NCDs.

Notably, Nuvama Wealth Management Limited, an associate of the issuer, will only participate in the marketing of the issue in compliance with SEBI regulations.

This offering presents an opportunity for investors to earn competitive returns while supporting the company’s financial restructuring and growth objectives.

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RBI lifts ban on NBFCs Asirvad Micro Finance and DMI Finance.

The Reserve Bank of India (RBI) lifted the business restrictions imposed on two non-banking financial companies (NBFCs) – Asirvad Micro Finance Limited and DMI Finance Private Limited.

The restrictions, issued on October 17, 2024, barred these NBFCs from sanctioning and disbursing loans effective from the close of business on October 21, 2024.

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RBI lifts ban on NBFCs Asirvad Micro Finance and DMI Finance.

Asirvad Micro Finance Limited, a microfinance institution (MFI) registered in Chennai, and DMI Finance Private Limited, an investment and credit company (ICC) based in New Delhi, faced the restrictions due to non-compliance with regulatory guidelines.

Following the RBI’s directions, the two companies initiated remedial measures and submitted compliance reports.

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RBI lifts ban on NBFCs Asirvad Micro Finance and DMI Finance.

After evaluating the companies’ revamped processes, systems, and their commitment to ensuring fairness in loan pricing and adherence to regulatory guidelines, the central bank has now lifted the sanctions with immediate effect.

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