HDFC Bank Appoints V.N. Srivatsan as Chief Compliance Officer

HDFC Bank has appointed V.N. Srivatsan as its new Chief Compliance Officer (CCO) for a three-year term, effective January 4, 2027. Srivatsan joins the lender with approximately 34 years of professional experience, including 25 years in the banking, financial services and insurance (BFSI) sector.

Srivatsan currently serves as Head of Compliance for Overseas Banking and Subsidiaries and Data Privacy Officer at ICICI Bank. He brings nearly 10 years of direct experience in compliance and regulatory inspection, adding extensive regulatory and governance expertise to HDFC Bank’s leadership team.

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HDFC Bank Appoints V.N. Srivatsan as Chief Compliance Officer

The appointment was approved by HDFC Bank’s Board following recommendations from the Audit Committee and the Governance, Nomination and Remuneration Committee. The appointment is in accordance with the Reserve Bank of India (Commercial Banks – Compliance Function) Directions, 2026.

Srivatsan will succeed Rakesh Kumar Rajput, whose three-year tenure as Chief Compliance Officer concluded on September 30, 2026. Until Srivatsan assumes office on January 4, Venkateswaran L will continue to hold the CCO responsibility.

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ICICI Prudential Life Insurance Appoints Sidharatha Mishra as MD & CEO

ICICI Prudential Life Insurance Company Limited has appointed Sidharatha Mishra as Managing Director and Chief Executive Officer, effective October 14, 2026. In his new role, Mishra will lead the company’s operations and business strategy as the insurer enters its next phase of growth.

Mishra brings more than 26 years of experience with ICICI Bank, spanning branch banking, regional operations, digital channels, partnerships and customer service.

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ICICI Prudential Life Insurance Appoints Sidharatha Mishra as MD & CEO

As MD & CEO, Mishra will be responsible for steering the insurer’s business operations, growth strategy and customer-focused initiatives. His appointment comes at a time when India’s life insurance sector continues to evolve through digital adoption, changing customer expectations and greater focus on accessible financial protection.

Mishra’s transition from a long leadership career at ICICI Bank to the top executive role at ICICI Prudential Life Insurance brings together his experience in banking, digital channels and customer service with the insurance company’s focus on expanding its life insurance business.

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NBFCs Account for 47% of New-to-Credit Consumer Originations: FIDC-TransUnion CIBIL Report

Non-Banking Financial Companies (NBFCs) have emerged as a major gateway to formal credit in India, accounting for 47% of New-to-Credit (NTC) consumer originations as of June 2026, according to a joint report by the Finance Industry Development Council (FIDC) and TransUnion CIBIL.

Titled “Bharat Nirman: NBFC Forming the Foundation of Credit Dispersion,” the report highlights the growing role of NBFCs in expanding access to credit across consumer segments, geographies and businesses. It noted that 36% of credit-eligible consumers have accessed credit through an NBFC, while 46% of all credit-active consumers currently hold an NBFC loan.

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NBFCs Account for 47% of New-to-Credit Consumer Originations: FIDC-TransUnion CIBIL Report

Over the past decade, NBFCs have expanded their credit-active consumer base nearly sevenfold, growing approximately 2.5 times faster than the overall credit industry. Their share of retail loan originations increased from 33% in June 2016 to 43% in June 2026.

NBFCs have also strengthened their position in small-ticket lending. Loans of up to Rs.2 lakh account for 82% of consumer credit originations by volume, with NBFCs contributing 47% of originations in this segment compared with 17% for banks.

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Bank of Baroda incorporates pension fund subsidiary

Bank of Baroda (BoB) has incorporated a subsidiary “BoB Pension Fund Management Company Ltd” with an authorised share capital of Rs.100 crore.

The public sector bank (PSB) is the sponsor of the new Company, with a shareholding of 80.10 percent. The balance stake is held by Baroda BNP AMC.

BoB’s new subsidiary aims to act as a pension fund management company regulated by Pension Fund Regulatory & Development Authority (PFRDA).

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Bank of Baroda incorporates pension fund subsidiary

It received the PFRDA Certificate of Appointment as Sponsor of the Pension Fund under Section 27 of the PFRDA Act, 2013.

With this, BoB becomes the second PSB to enter the pension fund business, marking an important step in its expansion in the retirement and long-term savings space. BoB also integrated Tatkal NPS with the BHIM App.

State Bank of India was the first PSB to enter the pension fund business in April 2008. As on August 31, 2026, SBI Pension Funds Pvt Ltd had assets under management aggregating Rs 6.14 lakh crore.

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IISc ranks top in India, Oxford University retains position: THE World University Rankings 2027

The Indian Institute of Science (IISc) has achieved top position in India while 254 rank globally in the Times Higher Education (THE) World University Rankings 2027. The latest edition ranked 2,297 universities across 118 countries and territories, making it the most extensive edition of the ranking as per THE. India is the most represented country in Asia for the second consecutive year, with 143 universities ranked, 15 more than last year. Turkey is the next most represented, with 124 universities, also adding 15 institutions to this year’s ranking.

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IISc ranks top in India, Oxford University retains position: THE World University Rankings 2027

IISc recorded an overall score of 57.0 in the 2027 ranking. Its strongest score among the indicators provided is in research environment, at 98.0, while it scored 62.1 for teaching and 58.6 for research quality. Saveetha Institute of Medical and Technical Sciences followed IISc in the Indian list, placed in the 326–350 band, with an overall score between 52.3 and 53.3.

Shoolini University was placed in the 451–500 band, while Jamia Millia Islamia and KIIT University were both ranked in the 501–550 band. The five institutions are part of India’s wider representation in the global ranking, with 143 Indian universities featuring overall. More than 1,000 institutions from Asia are ranked this year, rising from 929 last year to 1,003 this year.

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IISc ranks top in India, Oxford University retains position: THE World University Rankings 2027

The 2027 ranking also notes a much stronger presence of Asian universities at the top of the global table. As per THE, Asia has overtaken continental Europe for the first time, while China’s Tsinghua University has risen to 11th, moving ahead of Switzerland’s ETH Zurich. Tsinghua is now Asia’s top-ranked institution, while Peking University is ranked 13th.

Moreover, the National University of Singapore (NUS) has entered the global top 15, giving Asia three universities in the top 15 for the first time. Asia has 40 universities in the global top 200, five more than last year, while Malaysia has entered the top 200 for the first time.

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IISc ranks top in India, Oxford University retains position: THE World University Rankings 2027

The University of Tokyo is Japan’s top university at 27th, while Hong Kong’s top university, the University of Hong Kong, is ranked 33rd. Seoul National University is South Korea’s leading university at 56th.

Overall, the University of Oxford has retained the number one position for the 11th consecutive year, followed by the Massachusetts Institute of Technology (MIT) at second. Princeton University and Stanford University share third place, while the University of Cambridge is fifth. THE assesses research-intensive universities across areas including teaching, research environment, research quality, international outlook and industry.

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UCIL Celebrates Diamond Jubilee Year, Marks Six Decades of India’s Uranium Mining and Processing Capability

Uranium Corporation of India Limited, a PSU under the Department of Atomic Energy, celebrated its Diamond Jubilee Year, marking six decades since its incorporation on 4 October 1967 and its contribution to India’s nuclear power programme.

Ms. Seema Jain, Member-Finance, Atomic Energy Commission, graced the celebrations at Jaduguda as the Chief Guest; she visited the Technology Demonstration Pilot Plant and the proposed new site of the Dark Matter Laboratory of the Saha Institute of Nuclear Physics, an aided institution of DAE.

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UCIL Celebrates Diamond Jubilee Year, Marks Six Decades of India’s Uranium Mining and Processing Capability

The Uranium Corporation of India Limited (UCIL), a Public Sector Enterprise under the Department of Atomic Energy (DAE), celebrated its Diamond Jubilee Year on 4 October 2026, marking six decades of its journey in uranium mining and processing and its contribution at the forefront of India’s nuclear power programme.

The Diamond Jubilee Year celebrations at Jaduguda brought together senior officials, scientists, engineers, technical personnel, employees, media professionals and other stakeholders to commemorate an important milestone in UCIL’s institutional journey and to look ahead to the opportunities and shared responsibilities of the future.

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UCIL Celebrates Diamond Jubilee Year, Marks Six Decades of India’s Uranium Mining and Processing Capability

The Diamond Jubilee Year celebrations were graced by Ms. Seema Jain, Member-Finance, Atomic Energy Commission, as the Chief Guest. During the programme, she also visited the Technology Demonstration Pilot Plant (TDPP) at C, R&D, Jaduguda, and the proposed new site of the Dark Matter Laboratory at the 815-metre level of the Jaduguda underground mine.

Established in 1967, UCIL has been an integral part of the development of India’s indigenous uranium mining and processing capabilities, providing the essential resource base for India’s nuclear power programme.

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Defence Minister Rajnath Singh to launch Fleet Support Ship-1 in Visakhapatnam

In a significant demonstration of India’s indigenous shipbuilding capabilities, Raksha Mantri Shri Rajnath Singh will launch Fleet Support Ship-1 (FSS-1), lay the keel of Fleet Support Ship-5 (FSS-5) and also inaugurate the upgraded Slipway-4 and 300-tonne Goliath Crane at Hindustan Shipyard Limited, Vishakapatanam, on October 06, 2026.

The upgraded Slipway-4, with its extended length and enhanced load-bearing capability, supported by the 300-tonne Goliath Crane, will enable the shipyard to build and launch vessels of up to 45,000 DWT, significantly expanding its capacity to undertake large and complex platforms.

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Defence Minister Rajnath Singh to launch Fleet Support Ship-1 in Visakhapatnam

FSS-1, the first of five Fleet Support Ships being built for the Indian Navy, will enter the waters of the Bay of Bengal just 18 months after steel cutting. These 43,500-tonne vessels will replenish warships at sea, extending the Navy’s endurance and reach across the Indian Ocean Region. The keel laying of FSS-5 will mark the programme’s steady march towards series production.

The events will be attended by Shri N. Chandrababu Naidu, Chief Minister of Andhra Pradesh, Admiral Krishna Swaminathan, Chief of the Naval Staff, Shri Sanjeev Kumar, Secretary (Defence Production), among others.

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India-UAE Joint Military Exercise Mountain Guardian 2026 Commences in Uttarakhand

The India-UAE Joint Military Exercise MOUNTAIN GUARDIAN 2026 commenced today at the Foreign Training Node, Chaubatia, Uttarakhand. The exercise, being conducted from 05 to 18 October 2026, aims to enhance interoperability, mutual understanding and cooperation, with a focus on Mountain Warfare.

A total of 92 personnel, with equal representation from both Armies, are participating in the exercise. The Indian Army contingent comprises troops from a Bhairav Battalion, while the UAE Army contingent comprises troops from a Mountain Infantry Battalion. Women officers and combatants from both Armies are also participating in the exercise across specialist roles.

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India-UAE Joint Military Exercise Mountain Guardian 2026 Commences in Uttarakhand

Exercise MOUNTAIN GUARDIAN 2026 will provide an opportunity for both armies to exchange professional experience, enhance tactical proficiency and exchange best practices in operational procedures. The exercise will further strengthen military-to-military cooperation between India and the UAE and reinforce the bonds of friendship and trust between the two nations.

During the exercise, troops will undertake joint planning, tactical drills, firing practices, establishment of surveillance grids, drone operations, physical endurance training, rock climbing, obstacle training and integrated field exercises.

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TDB-DST signs agreement with BigEndian Semiconductors for Rs.130 crore RDI support to develop indigenous AI Vision SoC

Strengthening India’s efforts to build indigenous semiconductor capabilities for critical and emerging applications, the Technology Development Board (TDB), Department of Science & Technology (DST), Government of India, has signed an agreement with M/s BigEndian Semiconductors, Bengaluru, Karnataka for financial support of Rs.130 crore under the Research Development and Innovation (RDI) Fund.

The project, Project VeerAI, has a total project cost of Rs.260 crore and aims to take the technology from Technology Readiness Level (TRL)-5 to TRL-9. The financial support will be provided through Optional Convertible Debt (OCD).

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TDB-DST signs agreement with BigEndian Semiconductors for Rs.130 crore RDI support to develop indigenous AI Vision SoC

Project VeerAI seeks to develop a camera-focused AI Vision System-on-Chip (SoC) on a sovereign technology platform, addressing the growing requirement for secure, intelligent and application-specific semiconductor solutions.

The project is positioned around the development of a secure AI chip for surveillance applications, particularly CCTV systems, with the objective of reducing dependence on externally developed semiconductor and technology supply chains. The proposed platform is designed to combine AI processing and smart features with security, privacy and connectivity capabilities.

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TDB-DST signs agreement with BigEndian Semiconductors for Rs.130 crore RDI support to develop indigenous AI Vision SoC

The technology is being developed initially for CCTV and surveillance applications in India and the Global South, with a roadmap for deployment across multiple sectors. Beyond surveillance, the platform is envisaged for applications in defence, automotive, industrial and medical domains, creating a wider market for indigenous AI-enabled semiconductor solutions.

The project also seeks to leverage India’s growing VLSI design and semiconductor talent, translating domestic design capabilities into a scalable product platform. By focusing on application-specific SoCs rather than general-purpose chips, the programme aims to address specific industry requirements while enabling faster technology deployment and commercialisation.

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TDB-DST signs agreement with BigEndian Semiconductors for Rs.130 crore RDI support to develop indigenous AI Vision SoC

Through the RDI support, BigEndian Semiconductors will undertake further technology development, validation, integration, testing and scale-up activities required to progress Project VeerAI from TRL-5 to TRL-9.

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Union Minister of State for Chemicals and Fertilizers Anupriya Patel Launches 14th Edition of India Chem 2026

Addressing the launch event in New Delhi, Smt. Anupriya Patel said that the Government is committed to creating a conducive ecosystem and strengthening infrastructure for the industry to make India self-reliant and realise the vision of a developed India by 2047.

The Minister urged industry to increase the spending on R&D along with adopting newer technologies. She further stated that the Department is already pursuing the Department of Science and Technology to declare chemicals and petrochemicals as a priority sector so that it will be covered under the new Research Development Innovation Scheme (RDI) which has an outlay of about 1 lakh Crores. She added that these initiatives would contribute towards achieving the vision of developing the Indian chemical sector into a USD 1 trillion industry by 2040.

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Union Minister of State for Chemicals and Fertilizers Anupriya Patel Launches 14th Edition of India Chem 2026

India Chem 2026 is being hosted by the Department of Chemicals and Petrochemicals in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI). The 14th edition of the biennial event will comprise an international exhibition and conference, bringing together key stakeholders from the chemicals and petrochemicals sector, including industry leaders, policymakers, investors, researchers and international participants. The theme of India Chem 2026 is “Advantage Bharat: An Emerging Global Hub”, reflecting India's growing capabilities and expanding opportunities in the global chemicals and petrochemicals sector.

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Union Minister Bhupender Yadav, WB CM Suvendu Adhikari release tigress in Buxa forest on Gandhi Jayanti

On the occasion of Gandhi Jayanti, Union Minister for Environment, Forest and Climate Change Bhupender Yadav, along with West Bengal Chief Minister Suvendu Adhikari, released a tigress in the Buxa forest under the Buxa Tiger Project in Alipurduar.

The release marks a significant milestone for tiger conservation in India and a fitting beginning to Wildlife Week 2026. It also marks the initiation of a phased Tiger Reintroduction Programme aimed at restoring a viable and self-sustaining tiger population in the historically important Buxa tiger landscape.

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Union Minister Bhupender Yadav, WB CM Suvendu Adhikari release tigress in Buxa forest on Gandhi Jayanti

The groundbreaking initiative is a joint initiative of the West Bengal Government and the National Tiger Conservation Authority (NTCA). It is aimed at restoring the biodiversity of Buxa and is also expected to open new opportunities for nature, tourism and the local economy of the entire Dooars region.

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NABKISAN Lists India’s First WASH-Focused Social Bond, Raises Rs.180 Crore

NABKISAN Finance Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD), on 1st October 2026 listed India’s first Social Bond dedicated exclusively to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE), Mumbai.

The Social Bond issue witnessed robust investor participation and was oversubscribed 1.8 times, enabling NABKISAN to raise Rs.180 crore. The five-year bond carries a coupon rate of 8.10%, matures in September 2031, and has been assigned the highest domestic credit ratings of CRISIL AAA (Stable) and CARE AAA (Stable).

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NABKISAN Lists India’s First WASH-Focused Social Bond, Raises Rs.180 Crore

The proceeds will be deployed to expand access to safe water, sanitation and hygiene solutions across rural and underserved communities, contributing to improved health, livelihoods and quality of life.

The listing ceremony included addresses by representatives of NABARD, NABKISAN, Water.org, Trust Group and NSE, followed by the ceremonial bell ringing.Speaking on the occasion, Shri Immanuvel Ganesan, MD & CEO, NABKISAN, stated that the WASH Bond demonstrates how capital market instruments can mobilise resources for development sectors while delivering measurable social impact.

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NABKISAN Lists India’s First WASH-Focused Social Bond, Raises Rs.180 Crore

The transaction was supported by a wide range of stakeholders, including Water.org as Technical Advisor and Knowledge Partner, along with market institutions, advisors, trustees and arrangers who contributed to the successful issuance and listing of the bond.

The listing of India’s first WASH-focused Social Bond reinforces NABARD’s and NABKISAN’s commitment to advancing innovative financing solutions that support sustainable and inclusive rural development, while deepening the country’s sustainable finance market.

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Ministry of Education Approves Five Centres of Excellence for Studies in Classical Languages

The Department of Higher Education, Ministry of Education, Government of India, has approved the establishment of five Centres of Excellence (CoEs) for studies in Classical Assamese, Classical Bengali, Classical Marathi, Classical Pali and Classical Prakrit.

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Ministry of Education Approves Five Centres of Excellence for Studies in Classical Languages

The initiative will provide dedicated institutional support for advanced academic research, preservation and digitisation of linguistic and literary heritage, and wider dissemination of knowledge relating to these Classical Languages.

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INS Sahyadri and INS Kulish conclude participation in ASEAN-India Maritime Exercise 2026

Indian Naval Ships (INS) Sahyadri and Kulish have concluded their participation in the ASEAN-India Maritime Exercise (AIME 2026), conducted in the Philippines under the theme ‘Anchored in Trust, United at Sea’.

Defence Ministry said that the exercise provided opportunities for professional interaction, operational coordination and maritime training through the Harbour and Sea Phases. The Opening Ceremony was followed by the Harbour Phase, comprising a range of engagements including, Key Leaders’ Engagements, sporting events, Yoga, Community Interaction and Subject Matter Expert Exchanges. A Table-Top Exercise, Operational Synchronisation and Pre-Sail Brief facilitated coordination and preparation for the Sea Phase.

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INS Sahyadri and INS Kulish conclude participation in ASEAN-India Maritime Exercise 2026

During the Sea Phase, INS Sahyadri and INS Kulish participated in coordinated maritime exercises including Humanitarian Assistance and Disaster Relief, Visit-Board-Search-Seizure (VBSS) and Underway Replenishment drills. Helicopter exercises included cross-deck landings, vertical replenishment and CASEVAC drills. These activities enhanced coordination and interoperability among the participating maritime forces.

The participation of INS Sahyadri and INS Kulish reaffirmed the Indian Navy’s continued commitment to engagement with partner maritime forces, in consonance with India’s Act East Policy and the vision of Mutual and Holistic Advancement for Security and Growth Across Regions (MAHASAGAR).

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India and Japan Launch Operational Manual for the Joint Crediting Mechanism

Ambassador of Japan to India, H.E. Mr. Keiichi Ono and the then Secretary (MoEFCC), Shri Tanmay Kumar, jointly launched the Operational Manual for the India–Japan Joint Crediting Mechanism (JCM), in New Delhi.

The Joint Crediting Mechanism between India and Japan aims to promote the deployment of advanced low-carbon technologies, mobilize climate finance, facilitate technology cooperation and support high-integrity emission reductions and removals in India. The mechanism will contribute to sustainable development in India while strengthening confidence and transparency in international carbon markets.

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India and Japan Launch Operational Manual for the Joint Crediting Mechanism

The launch of the Manual marks a significant milestone in operationalizing bilateral cooperation between India and Japan under Article 6.2 of the Paris Agreement, following the signing of Memorandum of Cooperation (MoC) on 7th August 2025 and adoption of the Rule of Implementation (RoI) on 8th June 2026.

The development signals a transition from institutional preparation to implementation and establishes a clear, transparent and comprehensive procedural framework for implementing activities under India-Japan JCM. The manual provides detailed procedures covering the entire project cycle—from the submission of a Project Idea Note to the issuance and authorization of JCM credits.

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Sanchar Saathi portal crosses 30 crore visits as citizens turn Cyber Warriors against telecom fraud

Citizens across the country have visited the Sanchar Saathi portal (www.sancharsaathi.gov.in) more than 30 crore times since its launch in May 2023, reflecting the trust they place in it to protect themselves from telecom-related frauds. Developed by the Department of Telecommunications (DoT), the portal places simple and easy-to-use tools in the hands of every mobile user – to report a suspicious call or message, to know how many mobile connections are running in their name, to block a lost or stolen handset, and to check whether a handset is genuine before buying it.

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Sanchar Saathi portal crosses 30 crore visits as citizens turn Cyber Warriors against telecom fraud

Every visit to the portal protects the citizen, and every suspect communication that they report, protects many others. The information shared by citizens on Sanchar Saathi is converted into actionable intelligence that helps DoT, banks and law enforcement agencies to stop fraudsters before they reach their next target. Each citizen who uses Sanchar Saathi thus acts as a Cyber Warrior and as a shield against cyber frauds.

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