Kotak Mahindra Bank gets CCI nod to acquire Deutsche Bank India's retail, private banking businesses

Kotak Mahindra Bank has secured competition watchdog CCI's approval to take over Deutsche Bank's retail banking, private banking and wealth management business in the country, marking a proposed transfer of the German lender's customer-facing businesses to the domestic bank. The Competition Commission of India (CCI) had approved the acquisition of the businesses operated by Deutsche Bank through its Indian branches. Investments India Pvt Ltd's investment advisory and portfolio management services businesses will be referred to relevant wholly owned subsidiaries of Kotak Mahindra Bank. The business comprises approximately Rs 29,000 crore (about €2.7 billion) in loans, Rs 16,000 crore (around €1.5 billion) in deposits and Rs 10,500 crore (approximately €1 billion) of assets under management

Deutsche Investments India is an indirect wholly owned subsidiary of Deutsche Bank. Established in 1985, Kotak Mahindra Group is one of India's leading diversified and integrated financial services conglomerates.

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Equitas Small Finance Bank names Balaji Nuthalapadi as Interim CEO

Balaji Nuthalapadi, currently Whole-Time Director (Executive Director), is named interim CEO of Equitas Small Finance Bank, subject to RBI nod. The appointment follows the resignation of P. N. Vasudevan as Managing Director and CEO; the board has begun a search for a permanent successor.

Nuthalapadi brings 28 years of experience at Citi, including as Managing Director and Head of India Citi Solutions Centers.

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Union Cabinet approves Rs 14,500 crore VGF scheme to develop large scale energy storage in India

The Union Cabinet has approved a Rs 14,500 crore Viability Gap Funding (VGF) scheme for the development of grid-scale energy storage systems for the period 2026-27 to 2030-31.

According to the government, the scheme is aimed at supporting the development of 92 GWh of fresh, yet-to-be-commissioned, energy storage capacity across the country. The scheme will support creation of new capacities equivalent to 170% of the present-day grid scale energy storage system capacity in the country and help meet the required grid scale ESS capacity of 411 GWh by 2031-32. The scheme is designed to provide for the development of 60 GWh of hydro pumped storage plant (PSP) capacity, 30 GWh of battery energy storage system (BESS) capacity and 2 GWh of capacity through alternative energy storage technologies, with a total estimated investment of Rs 97,600 crore.

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Union Cabinet approves Rs 14,500 crore VGF scheme to develop large scale energy storage in India

The VGF support will help improve the financial viability of these projects and accelerate the deployment of large-scale energy storage infrastructure in the country. As per the government’s release, energy storage capacity will be allocated through a tariff-based competitive bidding process with both public and private sector electricity distribution companies eligible for VGF support for BESS and hydro PSP projects. Projects based on alternative energy storage technologies, too, will be implemented by public and private sector entities. To promote indigenous manufacturing, BESS projects will be subject to a minimum Domestic Content Requirement (DCR) of 40%

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Essar Renewables signs Power Purchase Agreement with NHPC for 300 MW project

Essar Renewables Ltd. (ERL), the renewable energy arm of the Essar Power, said it has signed a Power Purchase Agreement (PPA) with NHPC Ltd. for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project in Andhra Pradesh.

Essar Power will invest about Rs 4,500 crore in the project, which will integrate solar, wind and Battery Energy Storage Systems (BESS) to deliver and dispatchable renewable power. Essar Power plans to build a diversified energy portfolio of approximately 5 GW, spanning renewable, thermal and gas-based power generation.

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Pia Dandiya, first-generation Indian-American, wins U.S. House of Representatives seat from Florida

Indian American Pia Dandiya won the election to the U.S. House of Representatives from Florida’s 22nd congressional district, defeating Casey Askar, a Marine veteran. Ms. Dandiya, a former high school principal, bagged 51.9% of the votes to become the newest Indian-American U.S. congresswoman. Ms. Dandiya is a first-generation American who has dedicated her career to strengthening communities as a high school principal, policy leader and technology innovator. Born and raised in Palm Beach County in Florida, Ms. Dandiya started her career as a teacher and was a high school principal in Harlem. She founded a high school with the goal of changing life trajectories for low-income students by putting them on a path to economic freedom. She was founding principal of her school at the age of 28, making her one of the youngest high school principals in the country

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Suhas Subramanyam re-elected as U.S. Congressman from Virginia

Suhas Subramanyam, who served as an advisor to President Barack Obama, has been re-elected as a member of the US House of Representatives. Mr. Subramanyam, 40, won from Virginia’s 10th congressional district, polling over 61.5% of the vote against Republican Dave Beckwith, who managed to win 36.4% of the ballots cast. After earning his law degree with honours at Northwestern University, Subramanyam served as a White House technology policy advisor to President Obama. He was elected to the Virginia General Assembly in 2019 and served for two terms. Mr. Subramanyam was also a member of the Virginia State Senate before being elected to the US House of Representatives in 2024.

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Agnipath scheme revised, 75% of Agniveers to get two-year extension

The Union Cabinet has approved an additional two-year engagement period for the 75% of Agniveers who are not selected for regular service after their initial four-year tenure, creating a pathway for all Agniveers to join the armed forces as regular soldiers, subject to their willingness and fulfilment of selection criteria. Under the revised arrangement, 25% of Agniveers will continue to be offered regular employment in the Defence Forces on merit, as originally envisaged under the Agnipath scheme. The remaining 75% would be given an opportunity to serve for another two years, following which they would be eligible for consideration for enrolment as regular soldiers, subject to selection criteria and their willingness. The second engagement period will come with higher remuneration, an enhanced Seva Nidhi package, and seniority benefits.

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Steadfast invests Rs 100 crore in nutraceutical manufacturing plant

Steadfast Ltd, a leading pharmaceutical and nutraceutical company, has invested over Rs 100 crore in establishing a fully integrated in-house Formulation Research & Development (FR&D) facility, nutraceutical manufacturing plant and an advanced quality control lab in Noida.

The facility aims to contribute to building world-class research and nutraceutical manufacturing capabilities in India and strengthen the country’s self-reliance in nutraceutical manufacturing. It has an annual production capacity of 900 million tablets, 130 million capsules, 900 million effervescent tablets, and 6,500 tonnes of powder. Licensed by the FSSAI and featuring advanced automation, it has been developed according to the World Health Organisation’s Good Manufacturing Practices guidelines.

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Pixxel sets up US subsidiary to pursue defence and intelligence satellite contracts

Bengaluru-based space technology company Pixxel announced the setting up of Pixxel Federal, a US subsidiary aimed at securing more satellite technology contracts from American defence, intelligence and civilian government agencies.

Pixxel said the new subsidiary will focus on supplying advanced satellite imaging technology, satellite mission systems and geospatial intelligence services to US federal agencies, building on its existing work with NASA and the National Reconnaissance Office (NRO).

Pixxel has secured a contract under NASA’s Commercial SmallSat Data Acquisition Program and a Strategic Commercial Enhancements contract from the NRO to support the evaluation and integration of commercial hyperspectral satellite data for government missions. Jenkins, who previously served as Pixxel’s Vice President for Public Sector, will lead the new subsidiary.

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Pixxel sets up US subsidiary to pursue defence and intelligence satellite contracts

Pixxel Federal plans to establish an office in the Washington, DC, metropolitan area to strengthen engagement with federal customers.

The announcement follows Pixxel’s USD 100 million Series C funding round, co-led by Temasek and Seraphim, which brought its total funding to USD 195 million to support expansion in satellite systems, advanced sensing, software and manufacturing.

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Bahamas joins International Solar Alliance as 116th member

The Bahamas has joined the International Solar Alliance (ISA) as its 116th member. The Bahamas’ High Commissioner, Peter Nicholas Symonette Jr., handed over the Instrument of Accession to the ISA Framework Agreement to P.S. Gangadhar, Joint Secretary, Economic Diplomacy and Head of Depository. The handover took place on the sidelines of the Ninth Session of the ISA Assembly in New Delhi.

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PV Sindhu qualifies for 2026 BWF World Tour Finals

PV Sindhu has qualified for the year-ender BWF World Tour Finals. The World Tour Finals will take place in Hangzhou, China, from December 9-13. This is her sixth career appearance in the World Tour Finals and her first since 2021. She had qualified for 2022 but withdrew due to an injury.

Sindhu is the only Indian to have ever won the BWF World Tour Finals and has qualified for the 2026 edition in Hangzhou. Sindhu captured the title in 2018, surrounded by runner-up finishes at the 2017 Super Series Finals and the 2021 World Tour Finals.

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TRAI launches Network Anubhav platform to map network performance, offer online DND services

The Telecom Regulatory Authority of India (TRAI) on Wednesday launched Network Anubhav, a geospatial and analytical platform that allows consumers to view location-specific network test results and access Do Not Disturb (DND) services through a web interface.

The dashboard brings together consumer-generated data from TRAI’s MySpeed and MyCall apps and findings from its independent drive tests, providing information to users, telecom service providers and the regulator. Interactive maps allow users to examine the location and distribution of observations, supported by filters, tables and downloadable reports. The portal also provides web access to DND facilities, allowing consumers to register preferences for commercial communications, submit complaints about unsolicited communications and track their status. Users can also view consolidated and service-provider-wise complaint information.

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TRAI launches Network Anubhav platform to map network performance, offer online DND services

The regulator also highlighted its MySpeed software development kit, which allows eligible third-party apps to integrate connectivity measurement capabilities and contribute more real-world observations to the platform.

TRAI encouraged consumers to participate regularly through the MySpeed and MyCall apps, saying wider participation would improve the platform’s coverage and usefulness.

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TRAI Chairman - Anil Kumar Lahoti

Cabinet approves Rs 2,814-crore scheme to boost domestic lithium, nickel processing

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 2,814-crore Capital Expenditure (Capex) Support Scheme to promote domestic processing of critical minerals, including lithium and nickel, over five years from FY 2026-27 to 2030-31.The scheme aims to strengthen India’s domestic critical mineral processing capabilities, reduce import dependence and develop resilient supply chains amid the geographical concentration of processing facilities in a few countries. Such concentration exposes global supply chains to geopolitical disruptions, price volatility and potential supply restrictions, with implications for national security, economic sovereignty and decarbonisation targets.

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Cabinet approves Rs 2,814-crore scheme to boost domestic lithium, nickel processing

Under the scheme, a capital subsidy of 30 per cent of eligible investment will be provided for setting up four critical mineral processing plants — two lithium processing units with a minimum capacity of 30 kilotonnes (kt) each and two nickel processing units with a minimum capacity of 50 kt each. The maximum capital support will be capped at Rs 500 crore per lithium beneficiary and Rs 900 crore per nickel beneficiary. The scheme also envisages the recovery of cobalt as a by-product of nickel processing.

Beneficiaries will be selected through a two-stage process involving technical qualification followed by financial bidding. Two beneficiaries will be selected for each mineral based on the least-cost criterion, with preference given to bidders seeking the lowest capital support.

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Cabinet approves Rs 2,814-crore scheme to boost domestic lithium, nickel processing

The incentives will be disbursed in three tranches linked to the achievement of specified milestones.

The scheme is expected to support critical sectors, including electric mobility, Battery Energy Storage Systems (BESS), electronics, defence and speciality steel, while promoting domestic value addition and reducing reliance on imported materials.

The initiative is aimed at advancing the objectives of Atmanirbhar Bharat by strengthening India’s capabilities across the critical mineral value chain and building a resilient domestic processing ecosystem.

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Australian F1 world champion Alan Jones dies aged 80

Former Formula One world champion Alan Jones has died at the age of 80 after a short illness. Jones became Australia’s second world champion after Jack Brabham when he secured the drivers’ title in 1980 in a first for the storied Williams team. Born in Melbourne the son of a racing driver, Jones headed to Europe to further his racing ambitions and made his Formula One debut in a Hesketh at the 1975 Spanish Grand Prix. He took the first of his 12 race wins in Austria for the Shadow team in 1977 but his career was largely undistinguished until he joined Williams in 1978. Jones won five world championship races in the 1980 season and finished on the podium in all but one of the grands prix he completed to clinch the title ahead of Brazilian Nelson Piquet. He remains Australia’s last Formula One champion and the last local to win the Australian Grand Prix, which he did in 1980 when it was not part of the world championship.

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MANAGE Hyderabad Recognised as Centre of Excellence-Skills in Agriculture Sector by MSDE

The National Institute of Agricultural Extension Management (MANAGE), Hyderabad an autonomous organisation working under the Ministry of Agriculture & Farmers Welfare, Government of India has been recognised as a Centre of Excellence-Skills (CoE-Skills) in the Agriculture Sector by the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India. The Institute, established in 1987, aims at strengthening the agricultural extension system in the country. The Institute offers training, consultancy, research and policy support in the field of agricultural extension. The recognition as a Centre of Excellence has been formally conferred through a Certificate of Recognition presented by the Ministry at a ceremony held at Kaushal Bhawan, New Delhi, on 2 November 2026. The Certificate was presented to MANAGE by Smt Debashree Mukherjee, Secretary, Ministry of Skill Development and Entrepreneurship (MSDE), Government of India. The recognition is valid for a period of three years.

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World Tsunami Awareness Day | 5 November

Under the theme “Be tsunami ready: Resilience starts with you”, World Tsunami Awareness Day (5 November) highlights the power of individual and community preparedness. In December 2015, the UN General Assembly designated 5 November as World Tsunami Awareness Day, calling on countries, international bodies and civil society to raise tsunami awareness and share innovative approaches to risk reduction. Tsunamis are rare events but can be extremely deadly. UN Disaster Risk Reduction (UNDRR) facilitates the observance of World Tsunami Awareness Day in collaboration with the rest of the United Nations system.

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Soreng, Sikkim: India's first notified Organic Fisheries Cluster under PMMSY

The Hon'ble Union Minister Rajiv Ranjan Singh alias Lalan Singh visited Mangan districts, Sikkim on 2 nd November 2026 to review fisheries development initiatives under Pradhan Mantri Matsya Sampada Yojana (PMMSY). The visit witnessed participation from Shri Puran Kumar Gurung , Hon'ble Minister for Fisheries, AH&VS and Dairying, Agriculture & Horticulture, Government of Sikkim; Dr. Abhilaksh Likhi , Secretary (Fisheries), Department of Fisheries, Government of India, High level officials from Sikkim state government, NFBD, ICAR Institutes, fish farmers, fisheries cooperatives and other relevant fisheries stakeholders.

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Soreng, Sikkim: India's first notified Organic Fisheries Cluster under PMMSY

Fish feed was distributed to 15 fish farmers from two fisheries cooperative societies, reinforcing support for fish production and farmer-based institutions. During the program, the Union Minister launched the Standard Operating Procedure (SOP) for Organic Certification of Fisheries in the Northeastern region and inaugurated projects worth ₹375 lakh under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), encompassing critical fisheries infrastructure such as hatcheries, feed mills, cold storage facilities and production-related technologies such as Biofloc and Recirculatory Aquaculture system (RAS).

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Soreng, Sikkim: India's first notified Organic Fisheries Cluster under PMMSY

Kisan Credit Cards were distributed to fish farmers for facilitate access to institutional credit, while cheques were provided to five fish farmers under the Mukhya Mantri Matsya Uthpadhan Yojana (MMMUY). The Government has adopted a cluster-based approach for integrated development of the fisheries value chain. Under PMMSY, 34 fisheries production and processing clusters have been notified across the country, including organic fisheries clusters in Sikkim and Meghalaya. Soreng District, Sikkim is India’s first Organic Fisheries Cluster launched under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

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Greenland parliament approves security deal with US, Denmark

Lawmakers in the semi-autonomous Danish territory of Greenland have approved an agreement with Denmark and the United States aimed at bolstering security in the Arctic and North Atlantic. The agreement was signed in September by US President Donald Trump, Danish Prime Minister Mette Frederiksen and Greenlandic Prime Minister Jens-Frederik Nielsen on the sidelines of the United Nations General Assembly in New York. Located between Europe and North America, Greenland is the world’s largest island, with a population of 57,000 people.

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