The Geological Survey of India (GSI), one of the oldest scientific organizations in the country, is set to celebrate its 175th year of geoscientific legacy. To mark this historic milestone, Union Minister of Coal & Mines, Shri G Kishan Reddy will inaugurate the Foundation Day celebrations on 4th March 2025 at Central Headquarters, Kolkata.
Established in 1851 by Sir Thomas Oldham, GSI has played a pioneering role in geological mapping, mineral exploration, disaster studies, and geoscientific research, significantly contributing to India’s industrial and economic growth.
During the 175th Foundation Day celebrations on 4th March 2025,
GSI will showcase its rich legacy and scientific contributions through a series of engaging events, insightful publications and unveiling of Special Postal Cover, My stamp and two geoscientific mobile apps. Diverse exhibitions and historical photo gallery highlighting a visual journey through GSI’s 175-year legacy, its milestones and achievements will be showcased.
Union Health Minister Shri Jagat Prakash Nadda inaugurated the 9th National Summit on Good & Replicable Practices and Innovation in the Public Healthcare System in Puri, Odisha today in the presence of Shri Mohan Charan Majhi, Chief Minister, Odisha; Dr. Mukesh Mahaling, Health Minister, Odisha and Dr Sambit Patra, Member of Parliament (Lok Sabha) from Puri.
The 2 days summit will showcase and document various best practices and innovations adopted by States and UTs for addressing their public health challenges. It will also provide an opportunity for knowledge sharing and cross-learning among the States/UTs.
On the occasion, the Union Health Minister and other dignitaries released a Coffee Table Book on 9th National Summit on Best Practices, Report on the 16th Common Review Mission Report, Four Regional Conferences of NHM (2024-25) report and the Non-Communicable Diseases Conference Report (Jan 2025).
As of February 2025, India is ranked 12th among the world's most powerful countries.
Forbes has released its 2025 list of the world’s 10 most powerful countries, with the United States leading the rankings, followed by China in second place. Israel holds the tenth spot.
This ranking is based on several critical factors, but the notable absence of India—despite its massive population, fourth-largest military, and fifth-largest economy—has sparked debates.
Forbes clarified that the list was compiled by US News, with rankings determined by five key parameters: leadership, economic influence, political power, strong international alliances,
and military strength.
The ranking methodology was developed by BAV Group, a unit of global marketing firm WPP, in collaboration with researchers led by Professor David Reibstein from the Wharton School at the University of Pennsylvania, all in association with US News & World Report.
As of February 2025, India is ranked 12th among the world’s most powerful countries. This position takes into account India’s robust economy, influential international partnerships, and military capabilities. In terms of global GDP, India holds the 5th position, trailing behind the US, China, Germany, and Japan.
Flipkart-backed fintech firm Super.money acquired checkout financing platform BharatX in an all-cash deal as the company continues to launch new payment and credit offerings since its launch last year.
The deal amount has not been disclosed.
The company plans to introduce checkout financing for direct-to-consumer (D2C) and e-commerce brands,
including Flipkart, beginning with consumer durables products through a credit line on Unified Payments Interface (UPI).
The company said the core team that developed BharatX will work closely with Super.money, integrating their technology with the firm.
Super.money is the sixth largest third party application provider (TPAP) on UPI. It has launched fixed deposit (FD), credit products, and a secure co-branded credit card. At present, it has over 10 million users.
The company is planning to roll out a secured BNPL offering in the future, a first in the category.
BharatX has currently partnered with over 200 brands for checkout financing options. It has four banking partners, according to details on the website.
BharatX was founded in 2019 and raised $4.75 million in funding to date, according to data from market intelligence platform Tracxn.
World NGO Day is commemorated annually on February 27th. The day holds significant importance in celebrating and acknowledging the efforts that Non-Governmental Organizations (NGOs) globally have made in improving the world and aiding countless lives.
These groups are essential in tackling social, environmental, and economic challenges,
frequently operating in regions inaccessible to government or private sectors.
World NGO Day was suggested by Latvian social entrepreneur Marcis Liors Skadmanis in 2009 to recognize the significant contributions of NGOs.
Though it was officially created in 2010 by the Baltic Sea NGO Forum, it achieved international acknowledgement in 2014 from the European Union,
the United Nations, and various other global organizations.
Every year, World NGO Day features a unique theme. The theme officially designated for World NGO Day in the year 2025 is “Empowering Grassroots Movements for a Sustainable Future”.
SBI Life Insurance Company said that its board has approved the appointment of Dorababu Daparti as Deputy chief executive officer (CEO) with effect from 24 February 2025.
The firm added that this appointment is based on the recommendation of the nomination and remuneration committee.
Dorababu Daparti is a highly accomplished banking professional with over 29 years of experience in the financial industry. He holds a Masters degree in Sciences (M.Sc.) and is a Chartered Associate of the Indian Institute of Bankers (CAIIB).
Daparti began his career with the State Bank of India (SBI) in 1995 and,
has since held various managerial and executive roles within the organization.
With extensive expertise in international banking, he has a proven track record of success. Daparti served as the Country Head and CEO of SBIs Maldives operations from September 2021.
The Assam government has signed a Memorandum of Understanding (MoU) with the National Stock Exchange (NSE) to introduce a student-focused skilling initiative in the banking, financial services, and insurance (BFSI) sector. The agreement was formalised at the ‘Advantage Assam 2.0 Summit'.
With this collaboration, Assam becomes the fourth state to partner with NSE for youth skill development, following Uttarakhand, Meghalaya, and Chhattisgarh. The programme, backed by the state government, aims to equip students with industry-relevant knowledge in BFSI, enhancing their employment prospects and promoting entrepreneurship.
This initiative aligns with the National Education Policy (2020) and Assam’s vision to promote skill development as a catalyst for economic growth. By addressing the skill gap, the programme intends to prepare students for rewarding careers in the financial sector.
Tuhin Kanta Pandey has been appointed as the 11th chairman of the Securities and Exchange Board of India (SEBI), replacing Madhabi Puri Buch. Buch's 3-year-term as the SEBI chief ends on March 1, 2025.
The appointment by the Appointments Committee of the Cabinet is initially for three years.
Pandey, a 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, is currently the Finance Secretary and Secretary of the Department of Revenue.
Pandey has a notable track record, having played a pivotal role in the 2025-26 Budget which provided Rs. 1 lakh crore in tax relief to the middle class.
Additionally, he contributed to drafting a new Income Tax Bill aimed at replacing the long-standing Income Tax Act of 1961.
His previous tenure as the longest-serving Secretary in the Department of Investment and Public Asset Management (DIPAM) highlights his proficiency in managing government equity in public sector enterprises, making him well-suited for the SEBI role.
The Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) have signed a Memorandum of Understanding (MoU) to strengthen financing opportunities for Micro, Small, and Medium Enterprises (MSMEs). This partnership will focus on providing financial assistance for machinery and equipment financing, working capital, business loans,
loans against property.
According to SIDBI, the collaboration will also explore risk-sharing, co-lending, and joint financing models to ensure easy and efficient credit access for MSMEs. The MoU was signed by Vivek Kumar Malhotra, Chief General Manager of SIDBI, and Vivek Chopra, Chief Operating Officer of Retail Finance, Tata Capital, in the presence of senior officials.
Since its establishment in 1990, SIDBI has played a crucial role in promoting and financing the MSME sector. It operates through indirect lending (to enhance credit reach), direct lending (to address funding gaps), Fund of Funds (to support startups), and entrepreneurship promotion programs.
The Reserve Bank of India (RBI) imposed a penalty of Rs 66.60 lakh and Rs 33.10 lakh on The Hongkong and Shanghai Banking Corporation Limited (HSBC) and IIFL Samasta Finance, respectively, for violating norms, according to its press release.
With reference to HSBC’s financial position as on March 31, 2023, RBI found that bank had outsourced the disposal or closure of anti-money laundering (AML) alerts to a group company, failed to report unhedged foreign currency exposures of certain borrowers to credit information companies (CICs), and opened savings deposit accounts in the name of certain ineligible entities.
RBI imposed a penalty on IIFL Samasta Finance for charging interest on loans for a period prior to the actual disbursement of the loan or issuance of a cheque to certain borrowers, failing to classify certain loan accounts with overdues of 90 days or more as non-performing assets (NPAs),
classifying certain loan accounts that were NPA as ‘standard assets’ without realisation of the entire arrears of interest and principal amount due, and allotting multiple customer identification codes to certain individual customers instead of a unique customer identification code (UCIC) to each individual customer.
India and Japan have renewed the $75 billion bilateral currencies swap agreement, the Reserve Bank said.
The Bilateral Swap Arrangement (BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US dollar.
The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the Second Amendment and Restatement Agreement of the BSA, the central bank said.
The renewed BSA is effective on February 28, 2025.
The size of the BSA remains unchanged -- up to 75 billion US dollars, the RBI said.
It further said that Japan and India believe that the BSA, which aims to strengthen and complement other financial safety nets, will further deepen financial cooperation between the two countries and contribute to regional and global financial stability.
Markets regulator Sebi has launched a centralised database portal for corporate bonds in a bid to create a single, authentic source of information on such securities.
The portal -- Bond Central-- has been developed by Online Bond Platform Providers Association (OBPP Association) in collaboration with Market Infrastructure Institutions (MIIs),
comprising stock exchanges and depositories.
This database is expected to enhance transparency and facilitate informed decision making amongst investors and other market participants and will be operated by the OBPP Association, which is a not-for-profit entity with support from MIIs.
Additionally, investors can compare corporate bond prices with Government Securities (G-Secs) and other fixed-income indices for better decision-making.
Investors can access to detailed risk assessments, corporate bond documents, and disclosures from the portal enabling investors to evaluate opportunities effectively.
India's foreign exchange reserves rose to a two-month high of $640.48 billion as of February 21, data released by the central bank showed.
The reserves rose by $4.76 billion in the reported week.
They had fallen by $2.54 billion in the prior week, the most in a month.
Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves.
The rupee, like its Asian peers, has been volatile amid uncertainty surrounding U.S. trade tariffs but periodic intervention by the central bank has helped cap large-scale losses in the unit.
Foreign exchange reserves include India's Reserve Tranche position in the IMF.
Axis Mutual Fund has launched an open-ended target maturity index fund investing in constituents of Nifty AAA Financial Services Bond Mar 2028 Index, offering investors a moderate interest rate risk and relatively low credit risk.
AXIS Nifty AAA Bond Financial Services – Mar 2028 Index Fund opened and will continue till March 4.
The scheme’s objective is to provide investment returns before fees and expenses that closely correspond to the total returns of the securities as represented by the Nifty AAA Financial Services Bond Mar 2028 index, subject to tracking error/ tracking difference.
The fund will allocate 95-100 percent of its assets to fixed-income instruments replicating the index,
while the remaining portion will be invested in debt and money market instruments to maintain liquidity.
The fund follows a buy and hold strategy, ensuring that debt instruments from the financial services sector are held until maturity unless liquidated for redemption or rebalancing.
Being a passively managed fund, it minimises biases in security selection, offering transparency and consistency.
Fund detail
Benchmark:Nifty AAA Financial Services Bond Mar 2028 Index
Expected scheme maturity date:March 31,2028
NFO date: Feb 27, 2025 to Mar 4, 2025
Minimum investment: Rs 5,000 and in multiples of Rs 1 thereafter
Fund manager: Hardik Shah
Exit load:Nil.
India’s real gross domestic product (GDP) growth for the third quarter (Q3) of financial year 2024-25 (FY25) was 6.2 per cent, according to data shared by the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). The rise comes after GDP growth fell to a seven-quarter low of 5.4 percent in Q2FY25, significantly below estimates.
This acceleration was driven by strong rural demand, supported by favourable monsoon conditions, and increased government spending.
The construction sector recorded the highest growth at 8.6 percent, followed by financial, real estate, and professional services at 7.2 percent, and trade, hotels, transport, communication, and broadcasting-related services at 6.4 percent.
Private final consumption expenditure also rose by 7.6 per cent, reflecting a rebound in consumer spending.
As a result, the government has revised its full-year real GDP growth projection for FY25 to 6.5 per cent, from 6.4 per cent.
The government said it has allowed the integration of Aadhaar-enabled face authentication in mobile applications of private entities, a move aimed at easing access to services for customers through apps.
The process will be facilitated as part of the standard operating procedure (SOP) for Aadhaar authentication laid down through a Aadhaar Good Governance portal,
launched by the Ministry of Electronics and IT (Meity), an official statement said.
The ministry has launched Aadhaar Good Governance portal to streamline approval process for Aadhaar authentication requests following an amendment that restores access of the unique ID verification mechanism for private entities.
The government on January 31 notified an amendment in the Aadhaar Act to allow private entities to use Aadhaar authentication for delivering their services.
The Supreme Court had in September 2018 termed Section 57 of the Aadhaar Act "susceptible to misuse". The Section 57 empowered private entities to seek and use Aadhaar authentication for business purposes.
