The Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) has inaugurated the largest Hindu Temple of South Africa in Johannesburg. The inauguration of BAPS Shri Swaminarayan Mandir and Cultural Complex marks a historic milestone for the Hindu community in the country.
This new temple joins a growing network of 35 BAPS temples across Africa, including seven in South Africa. BAPS has currently a global presence with over thirteen thousand temples built across various countries, serving as centres for spirituality, cultural preservation, and community service.
President Donald Trump signed an executive order withdrawing the US from the United Nations Human Rights Council (UNHRC), prohibiting any future funding for the UN agency for Palestinian refugees. President Trump also directed the US to review its participation in the UN’s Educational, Scientific and Cultural Organisation (UNESCO).
The Executive order said that the United States helped found the United Nations after World War II to prevent future global conflicts and promote international peace and security. Mr. Trump halted funds for UNRWA during his first term. President Joe Biden put a block on US funds for UNRWA in January 2024.
State-owned National Bank for Financing Infrastructure and Development (NaBFID) raised Rs 5,000 crore through 15-year bonds at a cut-off rate of 7.25 per cent. Additionally, state-owned Power Finance Corporation (PFC) raised Rs 3,950 crore through bonds maturing in approximately 10 years and 20 years, with cut-off rates of 7.24 per cent and 7.25 per cent, respectively.
According to market participants, NaBFID's cut-off rate was considered realistic, given the large state development loan (SDL) issue this week and the increasing selectivity among some of the large long-term investors. The cut-off for ‘AAA’-rated long-term issuance has moved up in the last few months, said market experts.
State–owned REC had raised Rs 1,620 crore through bonds maturing in 10 years at a very attractive cut of 7.10 per cent. During this time, the 10–year government securities yield has come down from 6.74 per cent at the end of November to 6.67 per cent as of February 4.
General Insurance Corporation of India (GIC Re)'s board of directors has approved the incorporation of a wholly owned subsidiary—GIC Re, India Service Company—in the United Kingdom. The new company will be promoted by the corporation and incorporated as per applicable UK laws.
The company has no minimum capital requirement and can be set up with a capital of £1. The corporation will initially subscribe to the minimum capital as may be necessary, at face value. Currently, GIC Re's group includes subsidiary companies such as GIC Re South Africa, GIC Re Corporate Member, London, and GIC Perestrakhovanie LLC, Moscow.
It has branch offices in London and Kuala Lumpur. In April 2018, a syndicate fully capitalised by GIC Re became operational at Lloyd's of London. This syndicate is expected to scale up over the next few quarters towards achieving the medium-term management objective of a 60:40 (domestic: international) risk portfolio composition.
Additionally, GIC Re has 100 per cent subsidiaries in South Africa, Russia, and the United Kingdom, along with associate companies in Bhutan, Singapore, and India. GIC Re transacts business across 137 countries. The corporation reported a 6.8 per cent growth in net profit to Rs 1,621.35 crore in the quarter ended December 31, 2024.
Finvasia has launched an AI-powered app Jumpp, designed to simplify personal finance. Developed in partnership with YES Bank, Jumpp integrates banking, saving, payments, investing, and borrowing into one seamless platform. Jumpp focuses on bridging the inclusivity gap in digital transactions, particularly for users in Tier 2 and 3 cities.
Through YES Bank, Jumpp enables users to open savings accounts in minutes, backed by a secure banking infrastructure. With nearly 50% of online shoppers now based in smaller cities, the app offers multilingual conversational AI, allowing users to interact in English and Hindi through voice-based technology.
Cashfree Payments, a leading payments solutions startup, has raised $53 million (approximately Rs 450 crore) in a funding round led by South Korean digital entertainment giant KRAFTON. The round also saw continued backing from existing investor Apis Growth Fund II, managed by Apis Partners Group (UK) Limited.
The startup has witnessed a 130% increase in merchant signups in FY25 compared to previous years, driven by its seamless onboarding and integration capabilities. Cashfree supports major merchant platforms like Shopify, Wix, WordPress, WooCommerce, and WhatsApp, enabling businesses to commence transactions within a day.
Indian-American global business leader and musician, Chandrika Tandon won a Grammy for Triveni, an album which blends ancient chants with world music, at the 67th Grammy Awards. Tandon, 71, won the hallowed gramophone for her recent collaborative album in the Best New Age, Ambient or Chant Album category.
A trained vocalist in Carnatic and Hindustani classical music, Tandon was previously nominated for a Grammy in 2011 in the Contemporary World Music category for her debut album, “Soul Call”.
Tata Communications has tied up with CoRover.ai to provide sovereign artificial intelligence (AI) solutions to Indian enterprises and government bodies, the two companies said. Both companies will work on citizen-centric applications, digital public infrastructure, and scalable e-governance solutions for both public and private enterprises.
The joint venture will focus on generative AI solutions in text, voice, and video. All data, the companies said, will be stored in India and processed by locally trained models.
The 3rd India-Japan Steel Dialogue was successfully held on February 4, 2025, at Vigyan Bhavan, New Delhi, jointly organized by the Ministry of Economy, Trade and Industry (METI), Japan, and the Ministry of Steel, India. The India-Japan Steel Dialogue serves as an institutional mechanism to enhance bilateral collaboration in steel production and product diversification.
This partnership is guided by the Memorandum of Cooperation (MoC) on the steel sector, signed between the two countries on December 22, 2020. The dialogue underscores the shared vision of India and Japan in fostering innovation, sustainable growth, and resilience in the steel industry.
Union Minister of Rural Development Shri Shivraj Singh Chouhan has launched a national level mass outreach campaign “Watershed Yatra”, in Hybrid mode to generate people’s participation and create awareness about the Watershed Development activities carried out under Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0) in project areas.
A total of about 800 Gram Panchayats and more than one lakh people participated in the Watershed Yatra launch program. The Watershed Yatra will consist of Van movement for around 60-90 days across 805 projects, which cover 6673 GPs (13587 villages) in 26 States and 2 UTs.
The Department has developed a Learning Management System (LMS) on Watershed Development and hosted on DoLR's website, which has also been linked to MY Bharat portal for further engagement of youth.
PNB MetLife has collaborated with Policybazaar to introduce the PNB MetLife Smart Invest Pension Plan, a Unit-Linked, Non-Participating Individual Pension Plan aimed at helping individuals plan for their retirement with greater flexibility and financial security.
The plan is designed for individuals aged 40 to 50 years and offers multiple retirement options, including the flexibility to choose an immediate annuity upon maturity or defer it for a few years.
In Chess, Indian Grandmaster R. Praggnanandhaa clinched the prestigious Tata Steel Masters 2025 title in a thrilling showdown, defeating reigning World Champion D. Gukesh in a nail-biting tiebreaker last night at Wijk aan Zee, Netherlands. This victory makes R. Praggnanandhaa the first Indian since Viswanathan Anand in 2006 to claim the prestigious title.
The 14-player round-robin event ended dramatically, with both Gukesh and Pragg tied at 8.5 points after 13 rounds. Gukesh, unbeaten throughout the tournament, lost his final classical game to Grandmaster Arjun Erigaisi, while Pragg was defeated by Vincent Keymer in a long battle. In the tiebreak, Gukesh won the first of two blitz games.
