Ajay Seth has been appointed as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). This high-profile appointment fills the vacancy left since March 2025 following the completion of Debasish Panda’s term. Ajay Seth’s tenure as IRDAI chairperson is set for three years or until he reaches the age of 65, whichever occurs first.
The appointment was officially approved by the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, after the Financial Sector Regulatory Appointments Search Committee recommended Seth’s candidature.
Ajay Seth brings to IRDAI an extensive and diverse background, stemming from his 1987 induction into the Indian Administrative Service (IAS), Karnataka cadre. His previous roles include Department of Economic Affairs Secretary from 2021 to June 2025, Finance Secretary from March to June 2025, and a brief tenure as Revenue Secretary in March 2025.
Notably, he played a crucial part during India’s G20 presidency by leading the finance track and spearheading India’s first-ever sovereign green bond issuance. Seth has been instrumental in shaping infrastructure funding, fiscal management, digital payments, and economic growth policy.
His 18 years of experience in public finance and taxation, complemented by his contributions to social sector and urban infrastructure projects, have been widely recognised, earning him the Prime Minister’s Award for Excellence in Public Administration in 2013 for revolutionising Karnataka’s commercial tax administration.
The National Expert Committee meeting was held from 21st to 22nd July 2025 at the All India Institute of Ayurveda (AIIA), Goa. The committee, constituted by the Ministry of Ayush, co-chaired by Dr. A. Raghu, Deputy Director General (Ayush), and Dr. J. B. Gupta, comprises senior experts and scientists from leading institutions.
As part of its ongoing efforts to strengthen the scientific evidence base of traditional medicine, the Ministry of Ayush, Government of India, has made significant progress in the development of safety dossiers for four important Ayush herbs: Gokshura (Tribulus terrestris), Tulsi (Ocimum sanctum), Haridra (Curcuma longa), and Chandrashura (Lepidium sativum).
The National Expert Committee undertook a rigorous review of scientific, pharmacological, and traditional data to refine safety documentation for the selected herbs. The exercise involved a critical synthesis of Ayurvedic classical references, preclinical data, toxicology findings, and available clinical literature.
India and the United Kingdom have taken a major step in building a stronger economic partnership with the signing of the Comprehensive Economic and Trade Agreement (CETA) under the visionary leadership of Prime Minister Shri Narendra Modi.
The agreement was signed by Commerce and Industry Minister, Mr. Piyush Goyal and Secretary of State for Business and Trade, Mr. Jonathan Reynolds in the presence of the two Prime Ministers.
This FTA marks a significant milestone in India’s engagement with major developed economies and reflects a shared commitment to strengthening economic integration.
The signing of the India-UK CETA follows the successful conclusion of negotiations announced on 6th May 2025. The bilateral trade between the two countries stand at nearly USD 56 billion, with a joint goal to double this figure by 2030.
The Department of Posts (DoP), Ministry of Communications, Government of India, and NPCI International Payments Limited (NIPL), the international arm of National Payments Corporation of India, announced the signing of a Non-Disclosure Agreement (NDA) to collaborate on a groundbreaking initiative that aims to transform inward remittances to India.
This partnership will leverage the power of the Unified Payments Interface (UPI) and the Universal Postal Union (UPU) Interconnection Platform (IP) to create a seamless, secure, and affordable remittance channel for the Indian diaspora worldwide.
This collaboration marks a significant step towards modernizing cross-border payment services and enhancing financial inclusion for millions of Indians. By integrating UPI with the postal network, this initiative aims to provide a convenient and accessible alternative to traditional remittance methods, reducing costs and improving efficiency for senders and beneficiaries.
Key benefits of this collaboration include:
Affordable Remittances: The UPI-UPU-IP integration is expected to significantly reduce remittance costs, making it more affordable for Indian workers abroad to send money home.
Secure Transactions: Leveraging the robust security features of UPI and the trusted reputation of the postal network, this service ensures secure and reliable transactions for both senders and beneficiaries.
Wider Reach and Accessibility: By utilizing the global postal network,
this initiative extends the reach of UPI-enabled remittances to regions where traditional banking services may be limited, promoting financial inclusion for a broader segment of the Indian diaspora.
Real-Time Transfers: Through the efficient payment processing driven by the Real-time system using technology transfers would happen in real time thus benefiting the families back home.
Mr. Ritesh Shukla , CEO – NPCI International Payments Limited (NIPL)
Mr LK Dash, Deputy Director General- International Relations and Global Business, Department of Posts.
Union Home Minister and Minister of Cooperation, Shri Amit Shah unveiled the National Cooperation Policy – 2025 in New Delhi.
Earlier in the year 2002, the country's first National Cooperative Policy was issued, which gave a basic framework for better management of the economic activities of cooperative institutions.
In the last 20 years, many major changes have taken place in the society, country and the world due to globalization and technological advancement. Keeping these changes in mind, it became necessary to formulate a new policy, so that cooperative institutions can be made more active and useful in the current economic scenario and,
he role of the cooperative sector can be strengthened in achieving the goal of "Viksit Bharat 2047".
The objective of the National Cooperative Policy is to make cooperative institutions inclusive, manage them professionally, prepare them for the future and be able to create large scale employment and livelihood opportunities especially in rural India.
Shri Amit Shah said that six pillars have been defined to achieve the set goals for the cooperative sector. These are: Strengthening the foundation, Promoting vibrancy, Preparing cooperative societies for the future, Enhancing inclusivity and expanding reach, Expanding into new sectors, and preparing the younger generation for cooperative development.
Shri Nitin Gupta, IRS (IT:86) (Retd.) has assumed the charge of Chairperson, National Financial Reporting Authority (NFRA) on 23rd July 2025. Sh. Nitin Gupta earlier served as Chairman, Central Board of Direct Taxes (CBDT) from June 2022 to June 2024.
His professional experience spans across key assignments in the Income Tax Department and Ministry of Finance, where he led pioneering initiatives in automation, faceless assessments, and taxpayer services. As Chairman CBDT, he was instrumental in integrating advanced technologies such as artificial intelligence and big data analytics to improve compliance, transparency,
and ease of doing business. Under his leadership, the direct tax-to-GDP ratio reached record levels, and tax revenues showed consistent year-on-year growth, reflecting effective administration and better taxpayer outreach.
Ms Smita Jhingran, IRS (IT:86) (Retd), earlier Full Time Member, NFRA, Shri P Daniel, IDES (1989) (Retd), former Secretary, Central Vigilance Commission and Shri Sushil Kumar Jaiswal, IA&AS (1993) (Retd), former Director General of Audit (Central Receipt) have assumed the charge of the post of Full-Time Member, NFRA as well.
Union Minister of Communications and Development of North Eastern Region (DoNER) Shri Jyotiraditya M. Scindia chaired a meeting of the Consultative Committee pertaining to the Ministry of Development of North Eastern Region at Parliament House Annexe, New Delhi.
The meeting was held to review and discuss further strengthening of coordination under the provision of the 10% Gross Budgetary Support (GBS) for the Ashtalakshmi states of the NER.
The meeting focused on strengthening inter-ministerial coordination, expediting grievance redressal, and
ensuring that the mandated GBS allocation is translated into tangible development outcomes across the eight Ashtalakshmi states. The MDoNER Minister reaffirmed the government’s commitment to a whole-of-government approach, aligning this effort with the broader vision of a #ViksitNortheast and India’s Act East Policy.
Highlighting strong performance trends, Shri Scindia noted that since 2014, the average utilization of the 10% GBS has exceeded expectations, touching 104%, 112%, and even 114% in certain years. Ministries with ongoing shortfalls are being closely guided to set realistic targets, with strategic focus on high-value departments.
World Drowning Prevention Day, declared in April 2021 by General Assembly resolution A/RES/75/273, is held annually on 25 July. This global advocacy event serves as an opportunity to highlight the tragic and profound impact of drowning on families and communities and to offer life-saving solutions to prevent it.
Every year, an estimated 236,000 people drown, making drowning a major public health problem worldwide. Drowning is one of the leading causes of death globally for children and young people aged 1-24 years. Drowning is the 3rd leading cause of unintentional injury death, accounting for 7% of all injury-related deaths.
The International Day of Women and Girls of African Descent is celebrated annually on July 25th.
The woman and girl child of African descent embodies strength, resilience, and untapped potential, yet they remain among the most marginalized groups globally due to the intersection of racial, gender, and socio-economic discrimination.
Empowering women and girls of African descent requires a comprehensive approach grounded in human rights, cultural affirmation, and inclusive policymaking. Governments, institutions, and communities must commit to dismantling discriminatory structures and investing in initiatives that ensure equal access to education, healthcare, justice, and leadership.
Building on the momentum of the Nauru Declaration, in March 2025, the United Nations General Assembly adopted Resolution A/RES/79/266, officially proclaiming 25 July as the International Day for Judicial Well-being.
The resolution ties the observance directly to international legal frameworks like the United Nations Convention against Corruption (UNCAC),
emphasizing that judicial well-being supports anti-corruption, access to justice, and sustainable peace.
The United Nations Convention against Corruption (UNCAC) , especially Article 11, acknowledges this danger and calls for safeguarding the independence and integrity of the judiciary.
The Reserve Bank of India announced that it has withdrawn the Corrective Action Plan (CAP) imposed on Religare Enterprises' wholly-owned subsidiary, Religare Finvest Limited (RFL), with immediate effect from July 23, 2025.
The CAP was initially imposed on January 18, 2018, due to irregularities observed during the inspection as of March 31, 2017.
The NBFC arm had accumulated losses to the tune of Rs 2,270 crore till March 2022. It said total expenses over the past financial year had been in excess of Rs 639 crore, against the total income of Rs 275.25 crore.
On account of large scale siphoning of funds from REL and RFL, the latter was put into the CAP framework by the RBI.
RFL completed a one-time settlement with 16 lenders through organic collections in March 2023 and paid more than Rs 9,000 crore to the banking system, it said.
The company is, however, advised to be in compliance with all the prudential requirements, said the stock exchange filing of Religare Enterprises.
Earlier this year, the Burman family acquired a controlling stake in Religare Enterprises Ltd (REL) after the completion of the open offer, and REL was designated as its promoter.
Its shareholding post the acquisition deal stands at 83,201,819 equity shares, representing 25.16 per cent in the company.
During a recent session of Parliament, the Government provided detailed responses emphasizing major initiatives across multiple sectors. In response to queries from Members of Parliament regarding technological advancements, policy overhauls, and financial support mechanisms, the concerned Minister presented evidence-backed updates.
These included insights into collaborative ventures, strategic policy shifts, and robust support systems aimed at enhancing private sector participation.
