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IREDA, SJVN, GMR and NEA Seal Partnership for 900 MW Upper Karnali Hydropower Project in Nepal.

Indian Renewable Energy Development Agency Ltd. (IREDA) has finalized a Joint Venture Agreement with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority (NEA) for the development of the 900 MW Upper Karnali Hydro-electric Project in Nepal. This strategic initiative aims to strengthen regional energy security and accelerate renewable energy growth.

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IREDA, SJVN, GMR and NEA Seal Partnership for 900 MW Upper Karnali Hydropower Project in Nepal.

The joint venture agreement lays out a comprehensive framework for the project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model, with 25-years project term from the Commercial Operation Date (CoD).

The agreement was formalized in New Delhi in the presence of senior officials from IREDA, SJVN, and GMR Energy Ltd.

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Lokpal of India celebrates 1st Foundation Day on 16th January.

The Foundation Day of the Lokpal of India was held for the first time on 16th January at Manekshaw Centre, New Delhi in the august presence of the Chief Justice of India, Shri Justice Sanjiv Khanna.

It is this day, the Lokpal of India was established by virtue of coming into force of Section 3 of the Lokpal and Lokayuktas Act, 2013, on 16.01.2014.

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Lokpal of India celebrates 1st Foundation Day on 16th January.

The Lokpal is a vital instrumentality, in the ongoing mission of eradication of Corruption in public offices, Justice Khanwilkar underscored that “The challenges before the Lokpal are ever evolving. Because the model of corruption is evolving. The nexus between politicians, bureaucrats, and business interests has only grown stronger.

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Shriram Housing Finance rebrands as ‘Truhome Finance’.

Shriram Housing Finance, a housing finance company in India, has rebranded as Truhome Finance. The rebranding follows its acquisition by Warburg Pincus and co-investors, including QIA, Qatar’s sovereign wealth fund. Shriram Finance Group received an investment of Rs 1,225 crore, increasing the Company’s net worth to over Rs 3,300 crore.

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Shriram Housing Finance rebrands as ‘Truhome Finance’.

Truhome Finance is the new brand identity of the company. The rebranding aligns with its vision of enabling homeownership and ensuring financial accessibility for individuals across socio-economic backgrounds.

Ravi Subramanian, MD and CEO Truhome Finance.

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Cabinet approves the establishment of “Third Launch Pad”.

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the establishment of the Third Launch Pad (TLP) at Satish Dhawan Space Centre of ISRO at Sriharikota, Andhra Pradesh.

The Third Launch Pad project envisages the establishment of the launch infrastructure at Sriharikota, Andhra Pradesh for the Next Generation Launch Vehicles of ISRO and,

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Cabinet approves the establishment of “Third Launch Pad”.

also to support as standby launch pad for the Second Launch Pad at Sriharikota. This will also enhance the launch capacity for future Indian human spaceflight missions.

The Project is of national importance.

The TLP is designed to have configuration that is as universal and adaptable as possible that can support not only NGLV but also,

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Cabinet approves the establishment of “Third Launch Pad”.

the LVM3 vehicles with Semicryogenic stage as well as scaled up configurations of NGLV. It will be realized with maximum industry participation fully utilizing ISRO’s experience in establishing the earlier launch pads and maximally sharing the existing launch complex facilities.

TLP is targeted to be established within a duration of 48 months or 4 years.

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Cabinet approves the establishment of “Third Launch Pad”.

The total fund requirement is Rs. 3984.86 Crore and includes the establishment of the Launch Pad and the associated facilities.

The Project will boost the Indian Space ecosystem by enabling higher launch frequencies and the national capacity to undertake human spaceflight & space exploration missions.

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Cabinet approves the establishment of “Third Launch Pad”.

Background:

As on today, Indian Space Transportation Systems are completely reliant on two launch pads viz. First Launch Pad (FLP) & Second Launch Pad (SLP). FLP was realized 30 years ago for PSLV and continues to provide launch support for PSLV & SSLV. SLP was established primarily for GSLV & LVM3 and also functions as standby for PSLV.

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Cabinet approves the establishment of “Third Launch Pad”.

SLP has been operational for almost 20 years and has enhanced the launch capacity towards enabling some commercial missions of PSLV/LVM3 along with the national missions including the Chandrayaan-3 mission. SLP is also getting ready to launch the human rated LVM3 for the Gaganyaan missions.

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Cabinet approves the establishment of “Third Launch Pad”.

The expanded vision of Indian Space Programme during the Amrit Kaal including the Bharatiya Antariksh Station (BAS) by 2035 & an Indian Crewed Lunar Landing by 2040 requires a new generation of heavier launch vehicles with new propulsion systems, which cannot be met by the existing launch pads.

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SpaDeX Mission: Revolutionising Space Exploration

n a historic achievement, the Space Docking Experiment (SpaDeX) mission’s docking operation was successfully completed on 16th January, 2025 marking India’s entry into the elite group of nations capable of executing space docking operations. With this success, India becomes the fourth country in the world to achieve this technological feat after Russia, China, USA.

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SpaDeX Mission: Revolutionising Space Exploration

ISRO started the mission on 30th December 2024, with the successful launch of the SpaDeX spacecrfts using Polar Satellite Launch Vehicle (PSLV)-C60, from the Satish Dhawan Space Centre, Sriharikota. This groundbreaking mission aims to showcase India’s technological prowess in spacecraft rendezvous, docking, and undocking — a critical capability for future advancements such,

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SpaDeX Mission: Revolutionising Space Exploration

as satellite servicing, space station operations, and interplanetary exploration.

SpaDeX is a cost-effective technology demonstrator mission designed to showcase in-space docking using two small spacecrafts launched by 62nd PSLV flight. This mission is pivotal for India's future space ambitions, including lunar missions, sample returns, and

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SpaDeX Mission: Revolutionising Space Exploration

and the development of the Bharatiya Antariksh Station (BAS).

The SpaDeX mission involves two small satellites, SDX01, which is the Chaser and SDX02, the Target, each weighing approximately 220 kilograms. These spacecrafts are androgynous in nature i.e. either of the spacecraft can act as chaser (active spacecraft) during docking.

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C-DOT and IIT Bombay sign agreement for “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.

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 the Indian Institute of Technology, Bombay (IIT Bombay) for the development of " Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.

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C-DOT and IIT Bombay sign agreement for “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.

The agreement is signed under the Telecom Technology Development Fund (TTDF) 6G Call for proposal from the Department of Telecommunications, Government of India.

The aim of the project is to develop chipset for high-bandwidth free-space coherent optical links.

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C-DOT and IIT Bombay sign agreement for “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.

These links are meant for 6G applications including last mile high-speed terrestrial connectivity in rural areas, and in terrains where deployment / laying out of optical fibres becomes a challenge. The objective is also to develop solutions for providing uninterrupted high bandwidth communication links to remote areas via satellites.

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Dr. Mansukh Mandaviya chairs first-ever CSR round table for sports development.

To strengthen, the Indian sports ecosystem in order to host the 2036 Olympic Games, Honourable Union Minister of Youth Affairs & Sports Dr. Mansukh Mandaviya urged corporates to adopt one sport during the first-ever corporate round-table conference in the National Capital.

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Dr. Mansukh Mandaviya chairs first-ever CSR round table for sports development.

Dr. Mandaviya emphasized a vision to position India among the top five global sports performers by 2047, as the nation marks 100 years of independence. Aiming to bridge the gap between aspirations and execution, he stressed the critical role of Public-Private Partnerships (PPP) in building sustainable sports infrastructure and talent development programs.

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Dr. Mansukh Mandaviya chairs first-ever CSR round table for sports development.

He also proposed that PSUs from the Centre support state-level requirements to achieve sporting excellence.

The corporates can also become thematic partners for Khelo India mission, indigenous sports, para sports and sports for women programmes apart from the establishment of sports science centres and performance testing labs.

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PNB MetLife partners with Saraswat Co-operative Bank to offer insurance solutions.

PNB MetLife India Insurance Company Ltd (PNB MetLife) has forged a strategic bancassurance partnership with Saraswat Co-operative Bank Ltd, one of the largest urban co-operative banks in India.

This collaboration aims to enhance financial inclusion by offering a comprehensive suite of life insurance solutions, including savings, protection, retirement, and group plans,

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PNB MetLife partners with Saraswat Co-operative Bank to offer insurance solutions.

to Saraswat Bank’s extensive customer base of approximately 30 lakh individuals, across 302 branches nationwide.

Bancassurance is an insurance distribution model where companies partner with banks to sell insurance policies or products. This arrangement benefits both the bank and insurance companies. While the bank earns a commission from the insurance company,

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PNB MetLife partners with Saraswat Co-operative Bank to offer insurance solutions.

the insurer gains from bank’s distribution network.

The strategic partnership is expected to help address the protection gap and increase insurance penetration while promoting financial inclusion by reaching underserved and uninsured segments of the population.

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PUMA India teams up with PV Sindhu to strengthen badminton presence.

PV Sindhu, the two-time Olympic medallist and badminton icon, has teamed up with PUMA India in a multi-year partnership, marking the brand’s official entry into the badminton scene. This collaboration aims to tap into the sport’s growing fan base of 57 million in India, positioning PUMA to boost its presence in the country's rapidly expanding sports market.

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PUMA India teams up with PV Sindhu to strengthen badminton presence.

Through this partnership, PUMA aims to inspire the next generation, particularly among India’s youth, with badminton’s popularity soaring—27.8 million Gen Z fans follow the sport, and active participation has risen 65% in the past four years. This collaboration will officially debut at the India Open 2025 in New Delhi, setting the stage for future developments in the sport.

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PUMA India teams up with PV Sindhu to strengthen badminton presence.

Sindhu’s partnership with PUMA places her alongside the brand’s global roster of elite athletes, including cricketers Harmanpreet Kaur and Mohammed Shami, Olympians Sarabjot Singh and MC Mary Kom, as well as international stars like Usain Bolt and Neymar Jr. This collaboration marks the start of an exciting chapter for badminton in India.

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Ficci lowers India's growth projection from 7% to 6.4% for current FY.

Industry body Ficci lowered India's growth projection for the current financial year to 6.4 percent from 7 percent estimated earlier.

According to Ficci's Economic Outlook Survey, the revised projection is in line with the broad expectations and reflect a notable slowdown vis--vis 8.2 percent GDP growth recorded in 2023-24.

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Ficci lowers India's growth projection from 7% to 6.4% for current FY.

The survey was conducted in December 2024 and drew responses from leading economists representing industry, banking and financial services sector.

The participating economists observed global economy in 2025 to present a reasonable growth trajectory, with an underlying note of caution.

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Indian Bank​ appoints Binod Kumar as ​new ​M​D & CEO.

Chennai-headquartered Indian Bank has appointed Binod Kumar as its managing director (MD) and chief executive officer (CEO).

Kumar brings three decades of experience in banking in different capacities. As executive director of Punjab National Bank since November 2022, he was responsible for corporate banking, treasury division.

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Indian Bank​ appoints Binod Kumar as ​new ​M​D & CEO.

During his career at PNB, he held various key positions - chief general manager (corporate credit), zonal manager, and served as CEO of PNB operations at the Dubai International Financial Centre.

Under his leadership, Indian Bank plans to strengthen its position in market presence, deepen customer relationships and continue to deliver financial services.

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Punjab National Bank announces appointment of Ashok Chandra as MD & CEO.

Punjab National Bank announced that the government has approved the appointment of Canara Bank Executive Director Ashok Chandra as the managing director and CEO of PNB, for a period of three years.

Ashok Chandra, PNB said, has a vast and varied experience in the banking industry, spanning more than 33 years.

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Punjab National Bank announces appointment of Ashok Chandra as MD & CEO.

He was executive director of Canara Bank from 21st November 2022 to 15 January 2025.

He was also a director in the Board of Canara HSBC Life Insurance Company Limited, PSB Alliance Ltd and Canara Venture Capital Fund Ltd. He is a member of IBA standing committee for HR.

Before this, Ashok Chandra had served as Chief General Manager in Union Bank of India.

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