The National Payments Corporation of India (NPCI) and Eurobank of Cyprus have signed a memorandum of understanding (MoU) to introduce Unified Payments Interface (UPI) services in Cyprus for cross-border transactions that will benefit tourists and businesses.
The NSE International Exchange at Gujarat’s Gift City too signed an MoU with Cyprus Stock Exchange to enable cross-border flows. The agreement is expected to benefit investors in Gift City, Cyprus and Europe, officials said.
Cyprus has emerged as one of the top 10 sources of foreign direct investment (FDI) for India, with cumulative inflows of $15 billion. A business roundtable co-chaired in Limassol on Sunday by Modi and Cypriot President Nikos Christodoulides came up with a roadmap for enhancing economic linkages.
Nippon Koei India (NKI), a wholly-owned subsidiary of ID&E Holdings, Japan, has appointed G. Sampath Kumar as its Managing Director. He’s the first Indian to be appointed as the Managing Director of the company.
Katsuya Fukasaku, the outgoing Managing Director, would take over as the company’s Chairman, according to a statement.
“With this appointment, NKI aims to strengthen its presence in India, West Asia and Asia-Pacific,” it said.
An alumnus of IIT BHU, Sampat Kumar brings over 35 years of experience in civil engineering and IT consultancy.
The Delhi government is set to execute its first-ever artificial rain pilot, with all scientific systems and clearances in place. As per the environment ministry, the cloud seeding flights will commence as soon as suitable weather conditions, especially cloud moisture and depth, are observed over targeted zones.
The India Meteorological Department (IMD) has formally conveyed its support for the project, confirming meteorological feasibility over the National Capital Region (NCR).
The pilot, titled "Technology Demonstration and Evaluation of Cloud Seeding as an Alternative for Delhi NCR Pollution Mitigation," will be executed in collaboration with IIT Kanpur,
which will provide the scientific, technical and operational backbone for this intervention.
Professor Anantha Chandrakasan has become the first Indian-American to be named Provost of the Massachusetts Institute of Technology (MIT). He will succeed Cynthia Barnhart who announced her resignation from the position in February.
Mr Chandrakasan will assume the senior academic leadership position from July 1.
He will oversee MIT's financial strategy, faculty affairs, institutional planning, and instructional programming in his role as provost.
He is the recipient of several awards such as the 2009 Semiconductor Industry Association (SIA), University Researcher Award, the 2013 IEEE Donald O. Pederson Award in Solid-State Circuits, an honorary doctorate from KU Leuven in 2016, and
the UC Berkeley EE Distinguished Alumni Award in 2017.
In 2017, he was appointed Dean of the MIT School of Engineering. He has served as the Conference Chair of the IEEE International Solid-State Circuits Conference (ISSCC) since 2010. He received recognition as the author with the most articles in the IEEE ISSCC's 60-year history.
Pakistan signed a five-year long-term syndicated financing facility for $1 billion, indicating strong support from leading financiers amid the country's ongoing economic crisis.
“The Dubai Islamic Bank acted as the Sole Islamic Global Coordinator while Standard Chartered Bank is the Mandated Lead Arranger and Book-runners,” a Finance Ministry statement said.
The Ministry of Finance has signed a syndicated term finance facility of $1,000 million partially guaranteed by a policy-based guarantee of the Asian Development Bank (ADB) programme ‘Improved Resource Mobilisation and Utilisation Reform’,” said the statement.
The Ministry said the Islamic facility was structured to be fully compliant with AAOIFI standards, accounting for 89% of the total financing amount, with the remaining 11% from conventional financing.
The transaction was also the first facility supported by ADB’s policy-based guarantee linked to policy reform measures undertaken by an ADB member country, i.e Pakistan.
Sivasubramanian Ramann assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) on 20th June 2025. He has been appointed by the Government of India vide notification dated 8th April 2025 for a tenure of five years with effect from the date of assumption of charge of the post or till he attains the age of 65 years.
Ramann served as an officer of the Indian Audit & Accounts Service (IA&AS) from the 1991 batch. Prior to joining PFRDA, he served as the Deputy Comptroller & Auditor General and Chief Technology Officer in the Office of the Comptroller and Auditor General of India.
He has previously held several leadership positions, including Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), Managing Director and Chief Executive Officer of National E-Governance Services Ltd. (NeSL), and Principal Accountant General of the State of Jharkhand.
For period 2006 to 2013, he also served as Chief General Manager (CGM) and then as Executive Director at the Securities and Exchange Board of India (SEBI).
With his vast experience in public finance, technology, and financial regulation, Shri Ramann will guide PFRDA in its objective to strengthen India’s pension system and promote retirement security for all citizens.
2.35 lakh houses have been approved for construction under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) during the third meeting of Central Sanctioning and Monitoring Committee (CSMC) held on 18th June 2025 under the chairmanship of Srinivas Katikithala, Secretary, Ministry of Housing and Urban Affairs (MoHUA).
World Refugee Day is an international day designated by the United Nations to honour refugees around the globe. It falls each year on June 20 and celebrates the strength and courage of people who have been forced to flee their home country to escape conflict or persecution.
This year’s theme—"Solidarity with Refugees"—urges us to move beyond words and take meaningful steps to support those forced to flee. Refugees seek not charity, but opportunity: a chance to rebuild their lives, contribute to their communities, and live with dignity.
INS Teg, on her Operational Deployment to the South West Indian Ocean Region, is visiting Port Louis, Mauritius from 19-22 Jun 2025. The ship would be undertaking joint surveillance of Mauritian EEZ along with the Mauritius National Coast Guard (NCG) ships and aircraft,
reaffirming India's commitment towards ensuring safety of the global commons and to combat Illegal, Unreported and Unregulated (lUU) fishing. It also reinforces the Indian Navy's shared commitment towards cooperative maritime security in the region.
The ship will also be commemorating the International Day of Yoga 2025 on 21 Jun 25, with a Joint Yoga Session onboard, bringing together personnel from the Indian Navy, NCG and members of the Indian diaspora.
INS Teg, a stealth frigate of the Western Fleet of the Indian Navy, was commissioned on 27 Apr 2012.
India Post Payments Bank (IPPB), a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, has been conferred the prestigious Digital Payments Award 2024-25 by the Department of Financial Services (DFS), Ministry of Finance,
in recognition of its outstanding contribution to expanding digital payments and financial inclusion across the country.
India Post Payments Bank (IPPB) achieved 1st Position among Payments Banks in India in the Performance Index for Financial Year 2024–25 & received ‘Special Mention’ award for the Financial Year 2023-24.
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.
The combined Index of Eight Core Industries (ICI) increased by 0.7 per cent (provisional) in May, 2025 as compared to the Index in May, 2024. The production of Cement, Steel, Coal and Refinery Products recorded positive growth in May, 2025. The details of annual indices, monthly indices and growth rates are provided at Annex I and Annex II.
The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
