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Prime Minister Shri Narendra Modi dedicates frontline naval combatants INS Surat, INS Nilgiri & INS Vaghsheer to the nation

The Prime Minister Shri Narendra Modi today dedicated three frontline naval combatants INS Surat, INS Nilgiri and INS Vaghsheer to the nation on their commissioning at the Naval Dockyard in Mumbai. The Prime Minister noted the launch of new platforms, including the INS Nilgiri, dedicated to the maritime prowess of the Chola dynasty, and the Surat warship.

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Prime Minister Shri Narendra Modi dedicates frontline naval combatants INS Surat, INS Nilgiri & INS Vaghsheer to the nation

INS Surat, the fourth and final ship of the P15B Guided Missile Destroyer Project, ranks among the largest and most sophisticated destroyers in the world. It has an indigenous content of 75% and is equipped with state-of-the-art weapon-sensor packages and advanced network-centric capabilities.

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Prime Minister Shri Narendra Modi dedicates frontline naval combatants INS Surat, INS Nilgiri & INS Vaghsheer to the nation

INS Nilgiri, the first ship of the P17A Stealth Frigate Project, has been designed by the Indian Navy’s Warship Design Bureau and incorporates advanced features for enhanced survivability, seakeeping, and stealth, reflecting the next generation of indigenous frigates. INS Vaghsheer, the sixth and final submarine of the P75 Scorpene Project.

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RBI reshuffles portfolios of the three Deputy Governors

The Reserve Bank of India (RBI) on 14th January announced the portfolios of the three deputy governors, including M Rajwshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman. M Rajeshwar Rao has been given 11 portfolios. T Rabi Sankar will look after 13 departments. Swaminathan Janakiraman will handle nine portfolios.

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RBI reshuffles portfolios of the three Deputy Governors

The reshuffle coincides with the conclusion of Michael Patra’s tenure as Deputy Governor on the same date. M Rajeshwar Rao, who was appointed Deputy Governor in 2020 for a three-year term and later received two extensions (the latest in October 2024), has been entrust with 11 portfolios.

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Bank FD rates keep rising as war for deposits not over yet

Several Indian banks are increasing interest rates on fixed deposits to attract more customers amid a continuing liquidity crunch. IDBI Bank and Bank of Baroda are among the institutions offering new schemes with higher returns. As of December 27, credit grew by 11.16% year-on-year, while deposits rose by 9.8%, according to the latest data from the Reserve Bank of India.

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Bank FD rates keep rising as war for deposits not over yet

Total bank deposits stood at Rs 220.6 lakh crore, while bank credit reached Rs 177.43 lakh crore. This puts the credit-to-deposit ratio at 80%, up from 79% a year ago. IDBI Bank launched the "IDBI Chiranjeevi-Super Senior Citizen FD" program on January 13, 2025. This program offers higher interest rates for individuals aged 80 and above.

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Bank FD rates keep rising as war for deposits not over yet

The scheme offers 8.05% interest for 555 days, 7.9% for 375 days, 8% for 444 days, and 7.85% for 700 days. Bank of Baroda introduced a liquid fixed deposit scheme allowing customers to withdraw money in increments of ₹1,000 after an initial deposit of ₹5,000. Subsequent deposits must also be in multiples of ₹1,000.

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Bank FD rates keep rising as war for deposits not over yet

The scheme offers varying interest rates based on the deposit term, ranging from 12 to 60 months. Senior citizens receive an additional 0.5% interest on deposits up to three years and 0.6% on deposits between three and five years. Super senior citizens receive an additional 0.1% on deposits longer than one year.

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Bank FD rates keep rising as war for deposits not over yet

The SBI offers a variety of special fixed deposits, such as SBI Amrit Kalash and SBI Amrit Vrishti. The "444 days" scheme offers an interest rate of 7.25% for regular customers and 7.75% for senior citizens. This scheme is available until March 31, 2025. The "400 days" scheme offers 7.10% for regular customers and 7.60% for senior citizens, also valid until 31st march 2025.

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Bank FD rates keep rising as war for deposits not over yet

Federal Bank has updated its interest rates and added a new 444-day tenure with the highest rate of 7.50% for general (non-senior) citizens. Previously, the highest rate was 7.40% for 777 days and 50 months. Federal Bank offers interest rates between 3% and 7.5% on fixed deposits for general citizens, with tenures ranging from seven days to over five years.

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Bank FD rates keep rising as war for deposits not over yet

Indian Bank has extended the deadline for its special fixed deposit schemes, IND Supreme 300 Days and IND Super 400 Days, to March 31, 2025. These schemes offer interest rates of up to 8.05% for super senior citizens.

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Tata Capital raises $400 million through maiden international bond

Tata Capital Ltd, the financial services arm of the Tata group, has raised $400 million through its maiden international bond carrying an interest rate of 5.38 per cent. The tenor of the senior unsecured bond is 3.5 years, and proceeds will be deployed in business operations, including lending.

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Tata Capital raises $400 million through maiden international bond

Tata Capital said that on the back of strong investor interest, the transaction was launched with an initial price guidance of US Treasury (UST) plus 125 basis points (bps). Following strong book building, supported by high-quality investors, the company was able to tighten pricing by 33 bps to UST 92 bps.

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Tata Capital raises $400 million through maiden international bond

BNP Paribas, HSBC, Standard Chartered Bank, and MUFG acted as joint global coordinators and joint bookrunners, while J.P. Morgan acted as a joint bookrunner for this transaction. In December 2024, S&P Global Ratings had assigned its 'BBB-' long-term foreign currency issue rating to a $2 billion medium-term note (MTN) programme of Tata Capital Ltd.

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Bank of Baroda launches ‘bob Liquid FD’ for enhanced liquidity and convenience

Bank of Baroda has introduced “bob Liquid Fixed Deposits” as an alternative to the traditional fixed deposit (FD), combining the benefits of FD interest rates with the convenience of easy liquidity associated with a Savings Account. The new deposit gives depositors the flexibility of a partial withdrawal without having to close the entire FD.

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Bank of Baroda launches ‘bob Liquid FD’ for enhanced liquidity and convenience

The bank said the bob Liquid FD has features such as flexible deposit amounts starting at Rs. 5,000 (and in multiples of Rs. 1,000 thereafter, with no maximum deposit amount), tenure options ranging from 12 to 60 months and partial withdrawals accepted in multiples of Rs. 1,000.

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Bank of Baroda launches ‘bob Liquid FD’ for enhanced liquidity and convenience

Further, no penalty is levied for premature withdrawals on Fixed Deposits up to Rs. 5 lakh that have completed a tenor of at least 12 months. In the case of FDs below ₹1 crore, a penalty of 1 per cent from the applicable interest rate for the completed period or the contracted rate.

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India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

India’s insurance market is poised for rapid growth, with the country projected to lead the G20 nations in premium expansion at an average rate of 7.3 percent annually between 2025 and 2029, according to Swiss Re’s latest insurance market outlook report.

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India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

Swiss Re also forecasts that India will surpass Germany and Japan to become the world’s third-largest economy by the end of this decade. This trajectory is expected to benefit from steady global economic growth, projected at 2.8 percent in 2025 and 2.7 percent in 2026.

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India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

Swiss Re also expects India to be the fastest growing G20 economy over the next ten years (2025-2034) with average real GDP growth of 6.2 percent annually (10 percent in nominal terms). It also sees India GDP growing 6.9 percent in 2025, up from 6.5 percent in 2024 and higher than the annual average of 5.8 percent over previous ten years.

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India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

Insurance Market Highlights

India’s insurance sector is set to become the fastest-growing among G20 economies, fuelled by macroeconomic tailwinds, advancing digitalization, and a favorable regulatory environment.

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India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

  • Life Insurance Growth:
  • Life insurance remains the cornerstone of India’s insurance market, contributing 74 percent of total premium volumes. After a modest 0.7 percent growth in 2023 due to regulatory and taxation changes affecting the savings segment, life insurance premiums are forecast to grow by 4.8 percent in 2024 and 5 percent in 2025.

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    India to lead G20 insurance growth with 7.3% annual premium surge: Swiss Re

  • Non-life insurance expansion:
  • Non-life insurance is anticipated to grow at 7.3 percent annually between 2025 and 2029, up from 5.7 percent in 2024. Rising risk awareness, strong economic growth, and regulatory support for digitalization are driving this segment.

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    Shri Dharmendra Pradhan launches Registration Portal for Kashi Tamil Sangamam Phase 3

    Union Minister for Education, Shri Dharmendra Pradhan, launched the registration portal for the 3rd edition of Kashi Tamil Sangamam (KTS). The Minister, while addressing a press conference, announced that KTS 3.0 will commence on 15th February 2025 in Varanasi, Uttar Pradesh.

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    Shri Dharmendra Pradhan launches Registration Portal for Kashi Tamil Sangamam Phase 3

    Competitions and other awareness programs in Tamil Nadu prior to KTS 3.0 will be organised in a befitting manner in major cities of India and abroad where there is considerable Tamil diaspora. KTS 2.0 was inaugurated by Prime Minister Shri Narendra Modi at Varanasi on 17th December, 2023.

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    Shri Dharmendra Pradhan launches Registration Portal for Kashi Tamil Sangamam Phase 3

    This year, the government has decided to bring around 1000 delegates from Tamil Nadu under five categories/groups: (i) Students, Teachers, and Writers; (ii) Farmers and Artisans (Vishwakarma Categories); (iii) Professionals and Small Entrepreneurs; (iv) Women (SHG, Mudra Loan beneficiaries, DBHPS Pracharaks); and (v) Start-up, Innovation, Edu-Tech, Research.

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    India poised to become world's 4th largest economy by 2026; GDP to grow 6.8% in FY25: PHDCC

    India's economy is expected to become the fourth largest in the world by 2026, surpassing Japan, said industry body PHDCCI, as it projected the nation's GDP to grow 6.8 per cent in the current financial year ending March and 7.7 per cent in FY26.

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    India poised to become world's 4th largest economy by 2026; GDP to grow 6.8% in FY25: PHDCC

    Ahead of the Budget, the industry chamber also said the peak rate of income tax, which is currently applicable at 30 per cent on income above Rs 15 lakh, should be applied only to individuals having income above Rs 40 lakh, whereas the income tax exemption limit should be increased to Rs 10 lakh.

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    India poised to become world's 4th largest economy by 2026; GDP to grow 6.8% in FY25: PHDCC

    Besides, the PHD Chamber of Commerce and Industry (PHDCCI) expects the Reserve Bank to slash the bench-mark interest rate by 25 basis points in its policy review next month, with the Consumer Price Index (CPI) inflation expected to reduce significantly.

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    JM Financial appoints Ankur Jhaveri as head of Institutional Equities

    JM Financial has appointed Ankur Jhaveri as the MD & CEO of Institutional Equities at JM Financial Institutional Securities. He will be responsible for strengthening the sales, trading, research, and derivatives businesses. Before joining JM Financial, he served as Managing Director at Axis Capital.

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    JM Financial appoints Ankur Jhaveri as head of Institutional Equities

    JM Financial Group is one of India’s prominent financial services groups, specialising in providing a spectrum of businesses to corporations, financial institutions, high net-worth individuals and retail investors.

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    Indian Army Day | 15 January

    Indian Army Day holds historical importance as it commemorates January 15, 1949, the day when Field Marshal Kodandera M. Cariappa assumed the role of the first Indian Commander-in-Chief of the Indian Army. He succeeded General Sir Francis Butcher, the last British Commander-in-Chief, marking a significant shift in leadership and a milestone in post-independence India.

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    Indian Army Day | 15 January

    The theme for the 77th Army Day 2025 is ‘Samarth Bharat, Saksham Sena’ (Capable India, Empowered Army), reflecting the Indian Army’s commitment to national strength and defence capabilities.

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    Bumrah named ICC Men's Player of Month for December 2024

    India pace spearhead Jasprit Bumrah was on Tuesday (January 14, 2025) named ICC Men’s Player of the Month for December 2024 after his sensational performance during the recent tour of Australia for the Border-Gavaskar Trophy. He ended with 32 wickets in the five-match series which concluded on January 5.

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    Bumrah named ICC Men's Player of Month for December 2024

    He also reached a significant milestone, becoming the first bowler to take 200 Test wickets at an average below 20. His match-winning contributions included a nine-wicket haul in Brisbane and a five-wicket display in Melbourne as he edged out Australian skipper Pat Cummins and South African Dane Paterson for the award, stated the ICC.

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    Novak Djokovic breaks Roger Federer’s record for most Grand Slam matches played

    Novak Djokovic added yet another record to his lengthy list, breaking a tie with Roger Federer for the most Grand Slam matches played in tennis history by reaching 430 on Wednesday (January 15, 2025) at the Australian Open in what was a tougher-than-expected second-round victory.

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    Novak Djokovic breaks Roger Federer’s record for most Grand Slam matches played

    As it is, Djokovic has won the most Grand Slam singles titles of any man, 24, ahead of Rafael Nadal's 22 and Federer's 20 (those other two members of the Big Three are now retired). The 37-year-old Serb has spent more weeks at No. 1 in the rankings than any other player. He's played in 37 Slam finals, six more than Federer's old record.

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