In a historic moment towards boosting the Coastal Economy of the country, the Coastal Shipping Bill, 2025 was passed by the Rajya Sabha. This historic act is set to unlock the tremendous and vast potential of India’s 11,098 kms long strategic coastline, spanning nine coastal states and four union territories.
The bill was proposed for adoption by the Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal.
The Bill, which was earlier passed by the Lok Sabha on April 3, 2025, seeks to simplify and modernise the legal framework governing coastal shipping, replacing Part XIV of the Merchant Shipping Act, 1958 with a new-age,
progressive legislation aligned with global cabotage norms.
The Coastal Shipping Bill, 2025 comprises six chapters and 42 clauses. It introduces a simplified licensing system for coastal shipping and lays down the framework for regulating foreign vessels engaged in coasting trade.
Additionally, the Bill mandates the formulation of a National Coastal and Inland Shipping Strategic Plan to guide future infrastructure development and policy direction.
The legislation also provides for the creation of a National Database for Coastal Shipping, enabling real-time access to authentic and regularly updated data.
This database will keep potential investors informed about the government’s development plans and policy priorities in the sector, promoting transparency and confidence.
Once implemented, the Bill is expected to significantly enhance supply-chain security by increasing Indian ships’ participation in domestic cargo movement.
In a bid to boost road infrastructure in the Northeast region, the Ministry of Development of North Eastern Region (MDoNER) approved a project for construction of Mangoldoi - Mazikuchi road from KM 11+000 to KM 26+200, in Assam, having a length of 15 kms costing Rs.45.31 crore on 6 August, 2025.
The project will be implemented under the North East Special Infrastructure Development Scheme (NESIDS) - Roads.
In a view to democratize access to innovation by breaking language barriers, Atal Innovation Mission (AIM), NITI Aayog, and Bhashini, the Digital India Bhashini Division (DIBD) under the Ministry of Electronics and Information Technology (MeitY), signed a Statement of Intent (SoI) today in New Delhi.
This strategic partnership aims to foster vernacular innovation and promote language inclusivity across India’s rapidly evolving innovation and entrepreneurship ecosystem.
Through this collaboration, AIM and Bhashini also intend to jointly undertake multiple initiatives to support grassroot Innovators leveraging Bhashini’s language tools and technologies.
Existing AIM ecosystem including Atal Incubation Centres (AICs) and Atal Community Innovation Centres (ACICs) and new Language Inclusive Program for Innovation (LIPI) centres will also explore the use of Bhashini’s platforms for skilling and capacity-building programmes at the grassroots level.
Marking a major step toward modernising India’s maritime governance, the Directorate General of Shipping (DGS) under the Ministry of Ports, Shipping & Waterways hosted the “IT Conclave 2025 – Leveraging Technology in Maritime”.
The conclave, jointly organised by the DGS and the Company of Master Mariners of India (CMMI), aligns with the government’s larger vision under “Digital India,” “Maritime India Vision 2030,” and “Amrit Kaal Vision 2047”.
Among the key initiatives launched were the revamped DG Shipping website, Phase-1 rollout of the e-Samudra platform,
and the release of a comprehensive digital transformation vision document. The redesigned DG Shipping website is now GIGW 3.0-compliant, featuring a multilingual, mobile-responsive interface to enhance accessibility for seafarers, shipowners, training institutes, and other stakeholders.
The Minister also launched the initial modules under the flagship e-Samudra platform, a cloud-native system that aims to unify more than 60 maritime services under one digital roof. The first phase includes modules for chartering permissions and licenses, streamlining the process for vessel chartering approvals;
the Ship Building Financial Assistance (SBFA) module to facilitate access to financial support and incentives; the Multi-Modal Transport Operator (MTO) module enabling digital registration and regulatory compliance; and a Visitor Access Management System to enhance security through automation of access to DGS offices.
Seaports in India are one of the country's strong economic engines, driving the import-export sector. With 12 major seaports and over 200 minor ones, the country relies heavily on maritime infrastructure to move goods in and out efficiently. These ports are more than logistic hubs; they drive trade, boost employment, and support various industries.
Seaports in India have achieved several milestones over the past few years. According to the PIB press release, in FY 2024-25, cargo traffic across the major seaports reached around 855 million tonnes, up from 819 million tonnes in the previous year, marking a 4.3 percent annual growth.
Illinois has officially banned AI from acting as a therapist or counselor, marking a significant regulatory move amid growing concerns over AI’s role in mental healthcare. Governor JB Pritzker signed the Wellness and Oversight for Psychological Resources Act, which restricts AI to administrative and support tasks,
explicitly prohibiting its use in providing therapy or making independent clinical decisions.
Under the new law, AI platforms cannot generate treatment plans, assess emotional states, or offer therapy services unless overseen by a licensed human professional. Violators could face fines up to $10,000.
The Illinois Department of Financial and Professional Regulation will enforce the law, with officials stressing the importance of ensuring mental health care remains in the hands of qualified practitioners.
Illinois is not alone. Nevada enacted a similar ban in June, barring AI from providing therapeutic services in schools.
Utah passed regulations mandating clear AI disclosures for mental health chatbots and prohibiting the use of personal data for targeted advertising. New York’s forthcoming law, effective November 5, 2025, will require AI companions to redirect users expressing suicidal thoughts to human crisis support services.
The Reserve Bank announced that it has granted 'in-principle’ approval to AU Small Finance Bank Limited (AUSFB) for transitioning from a Small Finance Bank (SFB) to a Universal Bank.
After getting the SFB licence in 2015, AU Financiers commenced its journey as a small finance bank in April 2017.
AUSFB has a network of over 2,505 banking touchpoints across 21 states and 4 Union Territories. It has a customer base of over 1.15 crore and a workforce of more than 53,000 at end-June 2025.
The application for this transition was submitted on September 3, 2024, under the RBI's 'on tap' licensing guidelines (August 2016) and April 2024 framework,
for the voluntary conversion of small finance banks to universal banks.
AUSFB has a network of over 2,505 banking touchpoints across 21 states and 4 Union Territories. It has a customer base of over 1.15 crore and a workforce of more than 53,000 at end-June 2025.
MD and CEO- Sanjay Agarwal.
The 11th Session of the India-Russia Working Group on Modernization and Industrial Cooperation was held at Vanijya Bhawan, New Delhi, under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
From the Indian side, the session was co-chaired by Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Shri Amardeep Singh Bhatia, and from the Russian side by Deputy Minister of Industry and Trade of the Russian Federation, H.E. Mr. Alexey Gruzdev.
Key focus areas included cooperation in aerospace science and technology, including the establishment of a modernized wind tunnel facility, production of small aircraft piston engines, and joint development in carbon fibre technology, additive manufacturing, and 3D printing.
Both sides also explored opportunities in rare earth and critical minerals extraction,underground coal gasification, and creation of modern industrial infrastructure.
The meeting concluded with signing of the Protocol of the 11th Session by both co-chairs, reaffirming the strategic India-Russia partnership and shared commitment to deepen industrial and economic cooperation.
In tennis, 18-year-old Canadian wild card Victoria Mboko stunned four-time Grand Slam champion Naomi Osaka 2-6, 6-4, 6-1 to capture her first WTA 1000 title on home soil at the Canadian Open.
The win lifts Mboko to a career-high No. 25 in the WTA rankings, ensuring her first Grand Slam seeding at the upcoming US Open.
She is now the second Canadian since Bianca Andreescu in 2019 to reach the semifinals, final, and win the Canadian Open, and the second-lowest-ranked player ever to win a WTA 1000 title since the format began in 1990.
Remarkably, Mboko becomes only the second player since 2009 to claim her maiden title at a WTA 1000 event, and the second wild card champion at the National Bank Open after Monica Seles in 1995.
The Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E‑DRIVE) scheme, which promotes electric mobility across India, has been granted a two-year extension, moving its closing date to March 31, 2028. This change was announced by the Ministry of Heavy Industries (MHI) as part of an updated implementation plan.
The scheme, which began in October 2024 with a sanctioned budget of Rs 10,900 crore, was originally scheduled to run until March 2026. The extended timeline will not be supported by new financial allocations. Instead, it will utilise the unspent portion of the original outlay.
Although most activities under the initiative will continue, the purchase incentives for electric two-wheelers and electric three-wheelers will still end on March 31, 2026, as initially planned.
A high-level delegation from the Philippines has discussed with APEDA and the Indian Rice Exporters Federation to boost imports of key Indian food products, an industry official said.
The agreement includes a commitment from the Philippines to prioritise increased imports of essential items from India, such as rice, buffalo meat, vegetables, fruits, and peanuts,
The Philippines' delegation was led by Secretary of Agriculture Francisco P. Tiu Laurel Jr.
Key areas of cooperation were addressed in detail, resulting in an agreement from the Philippine government to eliminate restrictions on Basmati rice imports.
This agreement represents a key development in Indo-Philippine relations, contributing to improved food security, economic expansion, and diversified trade amid evolving global conditions, IREF President Prem Garg said.
Banks will make available in their branches as well as websites standardised forms and other documents required for settlement of claims with respect to deposit accounts and safe deposit locker/ articles in safe custody kept by a deceased customer, as per RBI’s draft circular on Settlement of Claims in respect of Deceased Customers of Banks.
Further, for the convenience of the claimants, banks will also display on their website the list of documents to be submitted by a claimant and the procedure to be followed for settlement of claims in various scenarios.
The Reserve Bank of India (RBI) launched the final co-lending norms, wherein each entity under a co-lending agreement (CLA) shall be required to retain a minimum 10 per cent share of the individual loans in its books.
The entity which originates loans under this model may provide default loss guarantee up to 5 per cent of outstanding loans sanctioned under the agreement to the partner entity.
Importantly, existing co-lending agreements executed before the date of issuance of these directions and new CLAs entered into prior to the effective date—which is January 1, 2026—shall be in compliance with the existing regulations.
“The credit policy of a RE (registered entity) shall suitably incorporate provisions relating to CLAs, including the internal limit for the proportion of their lending portfolio under CLAs; target borrower segments; due diligence of the partner entities; customer service and grievance redressal mechanism,” the RBI said.
Further, the loan agreement signed with the borrower shall make an upfront disclosure regarding the segregation of the roles and responsibilities (such as sourcing, and servicing) of concerned entity, including clear identification of the entity being the single point of interface with the customer.
Any subsequent change in customer interface shall only be done after prior intimation to the borrower, the RBI said. The loan-agreement shall also appropriately disclose suitable provisions related to customer protection, and grievance redressal mechanism.
The CLA shall entail an irrevocable commitment on the part of partner RE to take into its books,
on back to back basis, its share of the individual loans as originated by the originating RE. The CLA shall ensure that the respective shares of the REs are reflected in the books of both REs without delay after disbursement by the originating RE to the borrower, in any case not later than 15 calendar days from the date of disbursement,” the regulator said.
