In a remarkable milestone for the global economy, India has officially surpassed Japan to become the world’s fourth-largest economy in 2025, according to the latest data released by the International Monetary Fund (IMF). The updated IMF report places India at the 4th position globally, with a nominal GDP of $4.19 trillion, edging slightly ahead of Japan.
India and Denmark have reinforced their long-standing energy cooperation by signing a renewed Memorandum of Understanding (MoU).
The MoU was signed by Shri Pankaj Agarwal, Secretary, Ministry of Power, Government of India, and H.E. Mr. Rasmus Abildgaard Kristensen, Ambassador of Denmark to India.
3 May acts as a reminder to governments of the need to respect their commitment to press freedom and is also a day of reflection among media professionals about issues of press freedom and professional ethics. Just as importantly, World Press Freedom Day is a day of support for media which are targets for the restraint, or abolition, of press freedom.
This year the World Press Freedom Day global commemoration will focus on the profound influence of Artificial Intelligence (AI) on journalism and media under the theme: Reporting in the Brave New World – The Impact of Artificial Intelligence on Press Freedom and the Media.
Sobo Mumbai Falcons have roped in legendary cricketer Kapil Dev as the official brand ambassador of the franchise ahead of the highly anticipated third edition of the T20 Mumbai League. Widely regarded as one of India’s greatest cricketing icons and the captain who led the nation to its first World Cup triumph in 1983,
Kapil Dev brings unmatched prestige and inspiration to Sobo Mumbai Falcons.
In addition to his cricketing achievements, Kapil Dev also serves as the President of the Professional Golf Tour of India (PGTI), further demonstrating his leadership across diverse fields.
The World Bank has added four prominent names, including Bharti Enterprises Chairman Sunil Mittal, as it embarks on the next phase of the 'Private Sector Investment Lab' initiative, according to a release. Launching the next phase of the initiative focused on implementing proven solutions at scale, the World Bank, in a release, said
the new chapter also expands the Lab's membership to include industry leaders with experience generating jobs in developing economies, aligning directly with the Bank's sharpened focus on job creation as a core driver of development.
Apart from Mittal, other new members of the Lab include Bill Anderson, CEO, Bayer AG; Aliko Dangote, President & CEO,
Dangote Group; Mark Hoplamazian, President and CEO, Hyatt Hotels Corporation.
The Lab, over the last 18 months, brought together leaders from global financial institutions to identify the most pressing barriers to private sector investment in developing countries and to test actionable solutions.
That work has now been consolidated into five priority focus areas that are being integrated across Bank Group operations - Regulatory and Policy Certainty; Political Risk Insurance; Foreign Exchange Risk; Junior Equity Capital; and Securitisation.
The Reserve Bank said it has imposed penalties on four banks, including ICICI Bank and Bank of Baroda, for deficiencies in regulatory compliances. The penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance with certain directions issued by the RBI on Cyber Security Framework in Banks, KYC, and Credit Card and Debit Card -- Issuance and Conduct.
In another statement, the RBI said it has imposed a penalty of Rs 61.40 lakh on Bank of Baroda for non-compliance with certain directions on 'Financial Services provided by Banks' and 'Customer Service in Banks'.
Private equity major Warburg Pincus has sought fair trade regulator CCI's approval to acquire 10 per cent stake in private sector lender IDFC First Bank. US-based Warburg Pincus through its arm Currant Sea Investments BV will acquire the stake in IDFC First Bank.
The recently amalgamated Regional Rural Banks (RRBS) across 11 states and Union territories have come into effect.
On April 8, the Department of Financial Services (DFS) notified the amalgamation of 26 Regional Rural banks (RRBs) on the principles of 'One State One RRB'.
This was the fourth phase of the amalgamation of RRBs.
S&P Global Ratings cut India’s growth projection by 20 basis points to 6.3 per cent for the current financial year (FY26), citing a “seismic and uncertain shift” in US trade policy that has roiled markets and raised the spectre of a global economic slowdown.
In addition, the agency lowered India’s growth forecast for FY27 by 30 basis points to 6.5 per cent.
This marks the second consecutive cut made by the global credit rating agency for India’s FY26 growth estimate, after having trimmed its forecast by 20 basis points to 6.5 percent on 25 March.