During a recent Parliamentary session, the Government presented comprehensive responses outlining key initiatives across various sectors. Members of Parliament inquired about technological innovations, policy reforms, and financial incentives.
In reply, the Minister shared data-driven updates, highlighting joint ventures, policy changes, and support frameworks designed to boost private sector engagement.
India has climbed eight places on Henley Passport Index 2025 to 77th rank from 85 last year though the number of countries allowed visa-free access to Indian passport holders has mariginally been increased to 59. A passport is a government-issued document that allows an individual to travel overseas.
The Henley Passport Index is a popular ranking of global passports that measures passport strength by the number of destinations that holders can visit without a prior visa. The index ranks countries based on statistics provided by the International Air Transport Association (IATA).
The Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai has been named one of the world's top 10 international airports in the Travel + Leisure World's Best Awards 2025. With a reader score of 84.23, CSMIA is the only Indian airport to feature in this year's list, for the third consecutive year.
This year's rankings were once again dominated by airports in Asia and the Middle East. Istanbul Airport in Turkey retained its top position with a reader score of 98.57, followed by Singapore's Changi Airport and Hamad International Airport in Doha, Qatar.
Zayed International Airport in Abu Dhabi and Dubai International Airport rounded out the top five. Also featured were Hong Kong International Airport, Helsinki-Vantaa Airport in Finland, Tokyo's Haneda Airport, and Incheon International Airport in South Korea, with CSMIA placed ninth globally.
The rankings are based on a global survey conducted by Travel + Leisure, with the participation of nearly 180,000 readers casting over 650,000 votes. The survey recognises airports that go beyond efficiency and logistics, offering thoughtful design, memorable dining, and seamless travel experiences.
CSMIA, spread across 1,900 acres, is the world's busiest single-runway airport and the second busiest in India, handling 55.12 million passengers and nearly 1,000 air traffic movements daily in FY 2024-25. The airport provides direct connectivity to 54 international and 67 domestic destinations.
Recent upgrades at CSMIA include the expansion of DigiYatra and FTI-TTP for biometric, paperless travel, the launch of a new Airport Operations Control Centre (AOCC), installation of 68 electronic gates, and the implementation of self-service check-in kiosks and digital payment systems across its facilities.
CSMIA was also the first airport in India and third in the world to receive Level 5 Airport Customer Experience accreditation from Airports Council International (ACI). In March, it was once again voted the Best Airport Over 40 Million Passengers in Asia-Pacific, marking its eight consecutive years of recognition in that category.
The airport is operated by Mumbai International Airport Limited (MIAL), a joint venture between Adani Airport Holdings Limited (74%) and the Airports Authority of India (26%). The Adani Group is currently India's largest private airport operator.
The Reserve Bank of India (RBI) approved Currant Sea Investments B.V., an affiliate of global private equity major Warburg Pincus, to acquire up to 9.99 percent stake in IDFC First Bank. The bank disclosed the development in a stock exchange filing.
This follows a similar clearance granted by the Competition Commission of India (CCI) on June 3 for the proposed investment.
The regulatory nods come shortly after IDFC First Bank shareholders voted against the appointment of a non-retiring board member from Currant Sea Investments. Only 64.1 percent of shareholders supported the proposal, falling short of the 75 percent approval threshold required under corporate governance norms.
As part of this capital infusion plan, IDFC First Bank is set to issue 81.26 crore preference shares to Currant Sea Investments and 43.71 crore shares to ADIA-backed Platinum Invictus, both at Rs 60 per share.
State Bank of India (SBI) on Friday said it has been adjudged the World’s Best Consumer Bank for 2025 by Global Finance magazine.
India’s largest bank noted that the evaluation is based on the publication’s research and analysis, supported by insights from corporate finance executives, analysts, and bankers across the globe.
Global Finance magazine will present the award to Setty at the annual event titled World’s Best Bank in Washington, D.C., on October 18, 2025 during the IMF/World Bank Annual Meetings, SBI said.
CS Setty- Chairman, SBI.
‘Samudra Prachet’, the last of the two indigenous Pollution Control Vessels (PCVs) constructed by Goa Shipyard Ltd (GSL) was launched for Indian Coast Guard (ICG) in Goa on July 23, 2025. With 72% indigenous content, the project has significantly contributed to national capability-building, employment generation, and skills enhancement,
through active engagement of the local industry and MSMEs. These ships have been fitted with state-of-art Response Equipment and these vessels will help ICG in quick and effective response to any oil spill in the Exclusive Economic Zone.
With a length of 114.5 metres, a breadth of 16.5 metres, and a displacement of 4,170 tonnes, the ship will be manned by 14 officers and 115 sailors. It is equipped with two side-sweeping arms capable of collecting oil spills while underway, as well as a modern radar system for detecting oil slicks.
The vessel is engineered to recover oil across the full viscosity spectrum, pump in contaminated water, analyse and separate pollutants, and store recovered oil in dedicated onboard tanks.
The vessel was launched by Guest of Honour Smt Priya Paramesh, in presence of the Chief Guest Director General ICG (DGICG) Paramesh Sivamani.
The Reserve Bank said it has cancelled the licence of Karnataka-based The Karwar Urban Co-operative Bank as it does not have adequate capital and earning prospects.
Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 23, 2025.
On liquidation, every depositor would be entitled to receive the deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).
As per the data submitted by the bank, 92.9 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC, RBI said.
Insurance regulator IRDAI proposed a framework that mandates a internal insurance ombudsman scheme for insurance companies with an aim to address complaints against claims up to Rs 50 lakh.
In the draft norms released, The Insurance Regulatory and Development Authority of India proposed setting up of an independent and impartial review mechanism for all insurance companies.
The internal ombudsman would have an independent oversight reporting directly to the board or committee and will have the power of deciding in complaints where the amount does not cross Rs 50 lakh.
Applicable to all insurers (except reinsurers) with more than three years of operations,
the framework mandates the appointment of an internal insurance ombudsman to address complaints involving claims up to Rs 50 lakh," IRDAI said.
It further said that by institutionalising this internal but independent mechanism, Irdai aims to further improve the quality of grievance handling and enhance overall consumer confidence in the insurance sector.
Domestic brokerage Angel One announced a plan to invest at least Rs 400 crore in a life insurance company in a joint venture with Singapore's Livwell Holding Company.
The domestic company, which has interests across the financial services landscape, will hold a 26 per cent stake in the venture while its Singaporean partner will hold the rest 74 per cent.
This will be a 'digital-first' life insurance company, the statement said, adding that India is "overwhelmingly" under insured.
Livwell is backed by PE major Olympus Capital, who has other bets including HDFC Bank, CreditAccess Grameen, Thai Credit Bank, Karur Vysya Bank, Utkarsh SFB and CreditAccess Life Insurance.
In Chess, India’s Divya Deshmukh beat China’s Tan Zhongyi in Game 2 of the FIDE Women’s World Cup 2025 semifinal to secure a spot in the final, in Batumi, Georgia yesterday. The Indian chess star outplayed her opponent with white pieces to claim a 1.5-0.5 win in the semifinal, after having drawn the first game.
With this win, Deshmukh also claimed a spot in the Candidates tournament set to happen in 2026, while also securing her first Grand Master norm. The 19-year-old also became the first Indian to enter the final of FIDE Women’s World Cup.
Divya will take on the winner of the second semifinal played between top seed China’s Lei Tingjie and India No. 1 Koneru Humpy.
JSW Energy said its step-down subsidiary JSW Renew Energy Forty Five has inked a power purchase agreement with Bangalore Electricity Supply Company (BESCOM) for a grid connected 100 MW Solar Project.
The Power Purchase Agreement (PPA) has been signed for a tenure of 25 years at a tariff of Rs 4.31 per kWh.
In a regulatory filing, the company said JSW Renew Energy Forty Five Ltd, a step-down subsidiary of JSW Energy, has signed power purchase agreement with BESCOM for a grid connected 100 MW solar project with 100 MWh Battery Energy Storage System (BESS).
The aforesaid project will be developed on a designated site and connected to the 220/400 kV KPTCL Firozabad substation in Kalaburagi district, a company statement said.
Subsequent to this, the company's total locked-in energy storage capacity stood at 29.4 GWh, including 3.0 GWh of BESS and 26.4 GWh of Pumped Hydro Storage.
The Reserve Bank's FI-Index, which captures extent of financial inclusion in the country, rose 4.3 per cent during the year ending March 2025, the central bank said.
The RBI had constructed the composite Financial Inclusion Index (FI-Index) in consultation with the concerned stakeholders, including the government.
The annual index was first published in August 2021 for the fiscal ending March 2021.
"Index for the year ending March 2025 has since been compiled. The value of FI-Index for March 2025 stands at 67 vis-a-vis 64.2 in March 2024, with growth witnessed across all sub-indices, viz, access, usage and quality," RBI said in a release.
