The Defence Acquisition Council, under the chairmanship of Raksha Mantri Shri Rajnath Singh on August 05, 2025, approved various proposals amounting to a total cost of about Rs 67,000 crore. For the Indian Army, Acceptance of Necessity (AoN) was accorded for the procurement of Thermal Imager-based Driver Night Sight for BMP.
This would enhance night driving capability of BMP and provide higher mobility and operational advantage to the Mechanised Infantry.
For the Indian Navy, AoN was accorded for the procurement of Compact Autonomous Surface Craft, BrahMos Fire Control System & Launchers and Upgradation of BARAK-1 Point Defence Missile System.
The procurement of Compact Autonomous Surface Craft will provide the capability to the Indian Navy for detection, classification and neutralisation of threats in anti-submarine warfare missions.
For the Indian Air Force, AoN for procurement of Mountain Radars and Upgradation of SAKSHAM/SPYDER Weapon System was accorded.
The procurement of mountain radars will enhance the air surveillance capability along and across the borders in the mountainous region. The upgradation of SAKSHAM/SPYDER System for integration with Integrated Air Command and Control System will enhance the Air Defence capability.
AoN was also accorded for procurement of Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft (RPAs) for the three Services. The proposed MALE RPAs can carry multiple payloads & weapons and operate at longer ranges for long endurance missions. They will significantly enhance round-the-clock surveillance and combat capability of the Armed Forces.
In addition, DAC has also accorded AoN for sustenance of C-17 and C-130J fleets and comprehensive annual maintenance contract of S-400 Long Range Air Defence Missile System.
PM GatiShakti National Master Plan (PMGS NMP) was launched in October 2021. Since the launch, substantial progress has been made, which includes development of the geospatial platform, integration of multiple georeferenced data, provision of planning tools/software for planning infrastructure projects (including socio-economic infrastructure), and capacity building.
Mechanism of Network Planning Group(NPG) has been institutionalised, under which infrastructure projects are evaluated for integrated planning, multimodality, inter-modality, synchronization of efforts, whole of Government approach and Last-mile connectivity in and around the project catchment area.
So far, 293 infrastructure projects amounting to Rs. 13.59 Lakh Crore have been evaluated through the NPG mechanism.
Under PM GatiShakti initiative, as on date, 57 Central Ministries/Departments including 8 Infrastructure, 22 Social and 27 Economic & other Ministries/Departments have been onboarded on PMGS NMP.
National Bank for Agriculture and Rural Development (NABARD) and Reserve Bank of India (RBI) have undertaken various interventions to promote financial literacy and awareness of rural population, including microfinance borrowers.
Repco bank presented a cheque of Rs. 22.90 crore towards dividend for 2024-25 to Union Home Minister and Minister of Cooperation, Shri Amit Shah in New Delhi. Union Home Minister Congratulated Team Repco Bank for posting a profit of Rs.140 crore in the financial year 2024-25, which is the highest in the history of the cooperative bank.
Repco Bank has posted a net profit of Rs.140 crore during the FY 2024-25 and paid 30% dividend, which is the highest in the history of the cooperative society. Repco Bank, is a Government of India Enterprise. The Government of India has 50.08% shares in Repco Bank and it comes under the administrative control of MHA.
Chairman of Repco Bank- E. Santhanam.
The Competition Commission of India has approved the acquisition of Jaiprakash Associates Limited by Dalmia Cement (Bharat) Limited.
The Proposed Combination envisages100% acquisition of Jaiprakash Associates Limited (JAL) by Dalmia Cement (Bharat) Limited(Acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
The Acquirer is a wholly owned subsidiary of Dalmia Bharat Limited (DBL) which is the ultimate parent entity of the Dalmia Bharat Group. DBL (directly and through its affiliates) is primarily engaged in manufacture and sale of cement.
In a move aimed at making banking services more accessible and user-friendly, the Reserve Bank of India (RBI) announced three key measures for individual customers -- ranging from simplifying procedures for families of deceased bank account holders to improving access to government bond markets.
These initiatives aim to improve financial inclusion, reduce banking friction, and empower retail investors across India.
With the Pradhan Mantri Jan Dhan Yojana completing ten years, a large number of accounts are now due for re-KYC,” Malhotra said. To address this, banks will hold camps at the panchayat level from July 1 to September 30.
These camps will assist customers with the re-KYC process and also provide information and services related to micro-insurance, pension schemes, and grievance redressal.
The RBI also announced that it would standardise the settlement process for claims relating to deceased bank customers.
This includes streamlining procedures for accessing funds in accounts and recovering contents from safe deposit lockers and other custodial arrangements. “This move is aimed at making the claims process simpler and more convenient for families,” Malhotra noted.
The third announcement relates to the RBI’s Retail Direct platform, which allows individuals to invest in government securities. The platform will be upgraded to offer more tools to help retail investors plan and manage their investments.
Together, the three initiatives reflect the RBI’s ongoing effort to reduce friction in the banking system and expand financial services.
India’s second largest private sector lender ICICI Bank has shuffled key roles across treasury and other group entities, with treasury head B. Prasanna set to move to ICICI Securities, where he will head the capital finance and investment banking division, according to sources familiar with the development.
ICICI Bank reshuffles top deck: Treasury head B. Prasanna moves to ICICI Securities, Shailendra Jhingan steps in.
Anubhuti Sanghai, who currently serves as head of transaction banking at ICICI Bank, will succeed Jhingan as the head of ICICI Securities Primary Dealership, sources indicated.
Banks have sanctioned over Rs 4,930 crore to 34,697 loan accounts under the newly introduced 'Tarun Plus' category of Mudra Yojana as of June 2025.
With a view to incentivising successful borrowers under the Pradhan Mantri MUDRA Yojana (PMMY), a new category of Mudra Loans, namely 'Tarun Plus' was introduced in 2024-25 for those borrowers who have successfully repaid their Mudra loan under the Tarun Category, Finance Minister Nirmala Sitharaman said.
Under 'Tarun Plus', collateral-free loans up to Rs 20 lakh are provided to such borrowers, she said.
As per PMMY guidelines, 34,697 loan accounts amounting to more than Rs 4,930 crore, as on June 2025, have been sanctioned under this newly introduced category, she said in reply to a question by Congress MP Randeep Surjewala.
Banks, through their network, are actively reaching out to Mudra borrowers and reviewing the growth of the units through post-sanction inspections, analysis of stock statements, account transactions and renewal of credit limit, etc, she added.
India’s national card payment network RuPay has entered into a year-long partnership with Bigtree Entertainment to give cardholders an enhanced ticketing experience.
RuPay cardholders will enjoy special access to some shows from BookMyShow, including Sunburn 2025, Lollapalooza India 2026, and Bandland 2026.
Benefits include early pre-sale access, exclusive ticketing zones, curated food and beverage offerings, merchandise perks, fast-lane entry for top-ups, and access to dedicated lounge areas at select venues.
BoomMyShow will integrate RuPay across key touchpoints, including its homepage and post-transaction journey.
In eastern Ladakh, Shayok village, situated on the way to Galwan Valley, is working to convert its 10 hectares of barren community land into a botanical garden for the conservation of varieties of fruits, medicinal plants and flora and fauna of Ladakh. Successful completion of this proposed project will be the first-ever botanical garden in the Union Territory.
Leh Hill Council, through the department of Command Area Development, is assisting the villagers with Civil works of the project, such as land tilling and construction of a water reservoir. The Council has so far funded one crore rupees for the project.
Area Councillor of Leh Hill Council, Tashi Namgyal Yakze,e financed the installation of the solar pumping water system.
Considering the potential as tourists spots in the future due to its location on the route of Galwan Valley, which is in consideration of opening as Battle Field Tourism Initiative, the upcoming botanical garden will have all the available specimens of varities of Apricot, Apples, Trees, Medicinal Plants, Plants found high lands of mountain and varieties of rocks of Ladakh.
It is being developed as part of the ongoing Go Green Go Organic initiatives in Ladakh of Drikung Kyabsgon Chetsang Rinpoch .The upcoming botanical garden is planned to be completed by 2029.
Union Minister of Textiles, Shri Giriraj Singh officially launched the book titled "Carbon Footprint Assessment in the Indian Handloom Sector: Methods and Case Studies", jointly prepared by Office of Development Commissioner for Handlooms, Ministry of Textiles and Department of Textiles & Fibre Engineering, IIT, Delhi.
This landmark document strengthens the Government of India’s commitment to environmental conscious handloom production and sustainable development by providing clear, practical methodologies to measure and reduce the carbon footprint of the handloom industry—a vital socio-economic sector and a symbol of India’s rich cultural heritage.
The book comprises of simple steps to measure Carbon Footprint through real-world case studies across India, including products viz. cotton bedsheets, floor mats, Ikat sarees, Banarasi sarees, and other iconic handloom items. It also includes methodologies for low-cost data collection and emission measurement methods designed specifically for the handloom sector.
The Reserve Bank of India’s Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra decided to keep the benchmark repo rate unchanged at 5.5 per cent. The decision, taken with a 6-0 unanimous vote, comes after three consecutive rate cuts earlier this year.
The committee also maintained its policy stance at ‘neutral’, signalling that future moves will depend on inflation and growth dynamics.
The Standing Deposit Facility (SDF) rate remains at 5.25 per cent, while the Marginal Standing Facility (MSF) rate and the Bank Rate are unchanged at 5.75 per cent each.
On August 6, we mark the first-ever observance of the International Day of Awareness of the Special Development Needs and Challenges of Landlocked Developing Countries (LLDCs)—a day proclaimed by the United Nations General Assembly to spotlight the structural inequalities faced by 32 landlocked developing nations across Africa, Asia, Europe, and South America.
The first celebration of this Day will take place during the Third Conference on Landlocked Developing Countries in 2025.
Landlocked Developing Countries (LLDCs) lack territorial access to the sea, leaving them dependent on transit neighbors for a route to world markets.
