The Indian Navy is all set to commission its latest stealth multi-role frigate on 01 Jul 2025 at Kaliningrad, Russia. The ceremony will be presided over by VAdm Sanjay J Singh, Flag Officer Commanding-in-Chief, Western Naval Command, as the Chief Guest, in the presence of many high-ranking Indian and Russian government and defence officials.
Christened “Tamal”, it is the eighth in the series of Krivak class frigates inducted from Russia over the past two decades. Tamal is the second ship of the Tushil Class, which are the upgraded versions of their predecessors, Talwar and Teg classes having three ships each.
India as part of the broader contract for Tushil class is also building two similar frigates called the Triput class at Goa Shipyard Limited with transfer of technology and design assistance from the Russian Side. By the conclusion of this series of ships, Indian Navy will be operating ten ships with similar capabilities and commonality in equipment, weapon and,
sensor fit over four different classes.
Tamal has been built at Yantar Shipyard in Kaliningrad, Russia, and is the last warship to be inducted from a foreign source, in line with the Government of India’s impetus on Aatmanirbhar Bharat and Make in India initiatives. The ship has 26% indigenous components,
including the BrahMos long-range cruise missile for targeting both at sea and land. The ship has significant upgrades in its arsenal in comparison to its predecessors, such as vertically launched surface-to-air missiles, improved 100 MM gun, new age EO/IR system in addition to the standard 30 MM CIWS, heavyweight torpedoes, urgent-attack anti-submarine rockets, and
and a host of surveillance and fire control radars and systems. Force multipliers include Air Early Warning and Multi Role helicopters, which can operate from the deck of Tamal. The combat capability of the ship is augmented by a host of Network Centric Warfare capabilities and advanced Electronic Warfare suite.
UGRO Capital has announced a landmark acquisition of Profectus Capital Pvt. Ltd in an all-cash deal valued at Rs. 1,400 crore. This transaction, structured as a 100% equity buyout, is funded through UGRO Capital’s recent equity raise and is subject to regulatory and shareholder approvals, including those from the Reserve Bank of India.
Upon completion, Profectus Capital will become a wholly-owned subsidiary of UGRO Capital, marking a pivotal step in the company’s mission to bridge the MSME credit gap and expand its secured lending portfolio.
The strategic rationale behind this acquisition centers on UGRO Capital’s commitment to empowering the MSME ecosystem through technology-driven, secured financial solutions. By integrating Profectus Capital’s robust portfolio—comprising INR 3,468 crore in assets under management, a low NPA ratio, and a 28-branch network—UGRO Capital will instantly scale its AUM by 29%.
The Reserve Bank of India (RBI), in collaboration with the Reserve Bank Innovation Hub (RBIH), has launched the Unified Lending Interface (ULI) — a pioneering digital public infrastructure set to transform India’s lending landscape. Building on the remarkable success of the Unified Payments Interface (UPI),
ULI is designed to streamline credit delivery, enhance transparency, and democratize loan access, particularly for underserved segments such as micro, small, and medium enterprises (MSMEs), rural borrowers, tenant farmers, and gig economy workers.
Hindustan Copper Limited (HCL) welcomed a delegation from CODELCO (Corporación Nacional del Cobre), the State-owned Copper mining company of Chile, in New Delhi.
In a mission first-of-its-kind in India, experts from the Chilean Copper major will be visiting all HCL units and offices across the country to assess various mining and operational aspects.
Their three-week-long visit aims to explore opportunities for knowledge sharing and value addition.
On 20 December 2002, the General Assembly designated 23 June as Public Service Day by adopting resolution 57/277.
To bolster recognition of the Day and the value of public service, the United Nations established the UN Public Service Awards (UNPSA) programme in 2003, which was reviewed in 2016 to align with the 2030 Agenda for Sustainable Development.
The UN Public Service Day intends to celebrate the value and virtue of public service to the community; highlight the contribution of public service in the development process; recognize the work of public servants, and encourage young people to pursue careers in the public sector.
The United Nations observes 23 June as International Widows Day (resolution A/RES/65/189) since 2011, to draw attention to the voices and experiences of widows and to galvanize the unique support that they need.
Now more than ever, this day is an opportunity for action towards achieving full rights and recognition for widows.
This includes providing them with information on access to a fair share of their inheritance, land and productive resources; pensions and social protection that are not based on marital status alone; decent work and equal pay; and education and training opportunities.
In Badminton, Indian shuttlers won 27 medals at the Asian Para-Badminton Championship 2025 held in Thailand. The medals include four gold, 10 silver and 13 bronze. This resulted in the country’s best-ever performance at the event. Among the medallists were Paris Paralympics gold medallist Nitesh Kumar, Paris Paralympics silver medallist Thulasimathi Murugesan,
and Paris Paralympics bronze medallist Manisha Ramadass. The Championships held in Thailand from the 17th to the 22nd June.
India dominated the mixed doubles SL3-SU5 event, sweeping all three medals, with Nitesh Kumar and Thulasimathi Murgesan taking gold in a clinical straight-sets win over Ruthick Raghupathi and Manasi Joshi, while Chirag Baretha and Mandeep Kaur Bronze.
In Tennis, India’s Maaya Rajeshwaran has clinched the women’s singles ITF J200 Gladbeck title in Germany. The 16-year-old defeated Switzerland’s Noelia Manta 6-2, 6-4 in the final. This triumph marks Maaya’s maiden ITF Junior title on European clay.
Earlier in the semifinals, she defeated Daphnee Mpetshi Perricard of France 6-2, 6-1.
It is Maaya’s seventh ITF Junior title overall. Her earlier titles include victories at J100 and J300 events. The J signifies Junior, and the number indicates the tournament’s grade, with higher numbers generally representing higher levels of competition and more ranking points.
India’s young wrestlers delivered a stellar performance on the final day of the Under-23 Asian Wrestling Championships in Vung Tau, Vietnam, winning six medals in men’s freestyle. Five wrestlers, Nikhil, Sujeet, Jaideep, Chander Mohan, and Sachin, clinched gold.
India also topped the team rankings in men’s freestyle and won the women’s freestyle team title, marking a historic finish at the continental event.
Indian women wrestlers won the team title at the Under-23 Asian Championship by winning a medal in each of the 10 categories, including four gold and five silver in Vung Tau, Vietnam.
Priyanshi Prajapat in 50kg category, Reena in 55kg category, Shrishti in 68kg and Priya in 76kg category sealed the top podium places. Five Indian women wrestlers settled for runner-up finishes.
The Adani Group has announced the successful commissioning of India's first off-grid 5 megawatt green hydrogen pilot plant in Kutch, Gujarat. Developed by Adani New Industries Limited (ANIL), the clean energy arm of Adani Enterprises Ltd., the plant represents a significant advancement in the country's pursuit of clean and self-reliant energy solutions.
An off-grid green hydrogen plant generates hydrogen through electrolysis powered solely by renewable energy—such as solar or wind—without any connection to the conventional power grid. This means the plant operates independently, relying fully on its own renewable energy infrastructure.
Hydrogen, the most abundant element in the universe, is also one of the cleanest fuels—emitting only water vapour when used. Its environmental impact varies based on production methods. Hydrogen made from fossil fuels is classified as grey, while green hydrogen is produced using electricity from renewable sources to split water molecules into hydrogen and oxygen.
India’s NBFC sector has received a significant regulatory clarity boost with the RBI’s final guidelines on project finance.
These revised norms, applicable to loans sanctioned on or after 1st October 2025, are notably milder than the earlier draft, particularly concerning provisioning requirements.
One of the most crucial aspects of the final guidelines is that they are not retrospective. Loans to under-construction projects that have already achieved financial closure will continue to follow the extant provisioning norms, protecting lenders from any sudden balance sheet strain.
This ensures that the transition to the new regime remains orderly. For new under-construction project loans, the standard asset provisioning has been eased to 1% and 1.25% for commercial real estate (CRE) loans, significantly lower than the 5% proposed earlier.
Once projects become operational, the provisioning requirement drops further—to 0.4% for general project finance, 0.75% for CRE-RH, and 1% for CRE.
In addition, rationalization of delays in project timelines has been introduced, allowing up to three years for infrastructure projects and two years for non-infrastructure projects.
However, specific additional provisioning will be required for projects availing deferments, though this will be reversed once operations commence.
Training of Trainers (ToT) program on “Generation of Own Source Revenue by Gram Panchayats” was inaugurated by Shri Vivek Bharadwaj, Secretary, Ministry of Panchayati Raj at the Indian Institute of Public Administration (IIPA), New Delhi.
This three-day training program is being organised by the Ministry under the Rashtriya Gram Swaraj Abhiyan (RGSA) in collaboration with IIM Ahmedabad, with the larger objective of equipping Panchayats to become financially self-sustaining and development-ready institutions.
The training modules have been developed and are being delivered by faculty from IIM Ahmedabad. The curriculum is designed to foster practical application, behavioural insights, and collaborative learning. The program covers critical thematic areas, including: (i) Foundations of Own Source Revenue (OSR); (ii) Strategic Approaches to Enhance OSR;
(iii) Behavioural Science for Better Tax Collection; (iv) Utilisation of OSR for Village Development; (v) Behavioural Science and Innovative Financing; (vi) Exploring Innovative Project Financing Options; (vii) Revenue Forecasting and Planning for Sustainability; (viii) SWOT Analysis for Revenue Growth; (ix) Project Management for Effective GPDP Implementation.
