Ayatollah Ali Khamenei killed in Israeli-US strikes on Iran.
[Iran, United States, Israel]
Key Updates:
- Ayatollah Ali Khamenei, 86, was killed at his office during joint Israeli-US attacks on Iran confirmed on 28 February 2026.
- Iranian state media announced a 40-day mourning period following his death.
- Khamenei had served as Iran’s Supreme Leader since 1989, succeeding Ayatollah Ruhollah Khomeini.
- The Supreme Leader held ultimate authority over all branches of government, the military and the judiciary in Iran.
- US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu publicly confirmed Khamenei’s death on the same day.
- A senior Israeli official told Reuters that Khamenei’s body had been located.
Similar Coverage
- At least 12 people were killed and 24 wounded in Israeli air strikes targeting Lebanon’s eastern Bekaa Valley.
- Senior Hezbollah leader Hussein Yaghi, the son of former lawmaker Mohamed Yaghi, was killed in the strikes targeting command centres.
- An Israeli strike on the Ain el-Hilweh Palestinian refugee camp in the port city of Sidon resulted in the deaths of two members of Hamas.
- The military actions occurred despite a fragile United States (US)-brokered ceasefire established in 2024 to end cross-border hostilities.
- The Israeli military stated the strikes targeted command centres of Hezbollah and Hamas, while Hamas claimed the targeted building in Sidon belonged to a joint security force.
- Iran announced the temporary closure of the Strait of Hormuz on Tuesday for live-fire exercises conducted by the Iranian Revolutionary Guard.
- The Strait of Hormuz, through which 20% of the world’s oil passes, was stated to be closed for several hours for safety and maritime concerns.
- Indirect talks between the United States and Iran over Iran’s nuclear programme took place in Geneva on Tuesday, marking the second round of such negotiations.
- US envoys Steve Witkoff and Jared Kushner led the US delegation at the indirect talks held at the residence of the Omani envoy to Geneva.
- Iranian Foreign Minister Abbas Araghchi expressed optimism, stating a new window has opened for reaching a negotiated solution.
- US Vice President JD Vance said the talks went well in some ways but noted Iran had not yet acknowledged US red lines.
- Iran last closed the strait during the Iran-Iraq war in the 1980s by mining the waterway.
- Oil prices fell after the talks, with US oil down 1.3% at $62.06 per barrel and Brent crude down 2.3% at $67.03 per barrel.
- The US has increased its military presence in the region, with aircraft carriers USS Abraham Lincoln and USS Gerald R. Ford deployed towards the Middle East.
- Israel’s long-range Arrow-2 and Arrow-3 interceptors engage targets inside and outside the atmosphere and are developed by Israel Aerospace Industries (IAI) with Boeing producing the interceptors.
- David's Sling mid-range system, developed jointly by Rafael Advanced Defense Systems and RTX Corp, intercepts ballistic missiles fired from 100–200 km as well as aircraft, drones and cruise missiles.
- Short-range Iron Dome, operational since 2011, uses radar-guided missiles to destroy rockets, mortars and drones in mid-air and determines whether a rocket will hit a populated area before engaging.
- A naval version of Iron Dome was deployed in 2017 to protect ships and sea-based assets.
- Ground-based high-power laser system Iron Beam, developed for over a decade and declared fully operational in late 2025, intercepts UAVs and mortars at lower cost than missile-based interceptors.
- United States (US) military deployed Terminal High Altitude Area Defense (THAAD) to Israel in October 2024 to intercept short, medium and intermediate-range ballistic missiles in their terminal phase.
- US ground-based systems and a US Navy destroyer in the Eastern Mediterranean helped shoot down Iranian missiles fired at Israel in June 2025.
- Israeli combat helicopters and fighter jets have fired air-to-air missiles to destroy drones heading toward Israel.
- The European Union (EU) foreign ministers agreed to add Iran’s Islamic Revolutionary Guard Corps (IRGC) to the bloc’s terrorist list on 29 January 2026.
- EU foreign policy chief Kaja Kallas announced the designation on social media platform X.
- The sanctions target the IRGC, Iranian officials, and entities responsible for internet censorship.
- The IRGC is currently led by General Mohammad Pakpour, appointed after his predecessor Hossein Salami was killed in an Israeli strike during the 12-day war in June 2025.
- Protests in Iran began on 28 December 2025 after a sharp fall in the currency value and spread nationwide.
- The US-based Human Rights Activists Network reported nearly 6,000 civilians killed in the crackdown.
- Iran’s foreign minister Seyed Abbas Araghchi criticised the EU move on social media platform X, accusing Europe of fanning the flames of conflict in the Middle East.
Jagat Prakash Nadda chairs reconstituted Hindi Advisory Committee of Ministry of Chemicals and Fertilisers.
[Ministry of Chemicals and Fertilisers]
Key Updates:
- The government reconstituted the Hindi Advisory Committee for the Ministry of Chemicals and Fertilisers.
- Union Minister for Chemicals and Fertilisers Jagat Prakash Nadda will serve as the chairman of the committee.
- The committee includes six nominated Members of Parliament.
- The committee will review and recommend measures for the progressive use of Hindi in the ministry’s official work and its subordinate offices.
Similar Coverage
- Union home minister Amit Shah chaired the ninth apex-level meeting of the Narco-Coordination Centre (NCORD) in New Delhi.
- A nationwide campaign against drugs will be launched from March 31, 2026, for a period of three years.
- All central government departments must prepare a roadmap up to 2029 with a monitoring mechanism to address the drug problem comprehensively.
- Senior Indian diplomat DB Venkatesh Varma has been nominated by the UN Secretary General to chair the Advisory Board on Disarmament Matters for the 2026–27 term.
- This marks the first time an Indian will hold the position of chair of the Advisory Board on Disarmament Matters.
- The Advisory Board on Disarmament Matters was established in 1978 pursuant to paragraph 124 of the Final Document of the Tenth Special Session of the General Assembly.
- The Board advises the Secretary-General on issues related to arms limitation and disarmament, including studies and research carried out under the auspices of the United Nations or institutions within the UN system.
- The Board also serves as the Board of Trustees of the United Nations Institute for Disarmament Research.
- Members of the Advisory Board are chosen by the Secretary General from all regions of the world based on their knowledge and experience in disarmament and international security.
- Narayan Ramachandran, former country head and CEO of Morgan Stanley India, chairs the SAARG committee formed by PFRDA.
- The committee includes former whole-time member Ananth Narayan, Motilal Oswal Co-founder Raamdeo Agrawal, DSP Mutual Fund MD & CEO Kalpen Parekh, and First Global Founder & CMD Devina Mehra.
- PFRDA mandates the SAARG committee to review and modernise the National Pension System (NPS) investment framework within 9 months.
- The panel will benchmark NPS guidelines against leading global pension systems and the evolving Indian investment ecosystem.
- Nitin Nabin succeeded Union Minister JP Nadda as the BJP National Working President.
- He is the youngest BJP president ever and the first BJP president from Bihar and Eastern India.
- Nabin is a five-time MLA and Minister of Road Construction in the Bihar Government.
- He is the son of veteran BJP leader Navin Kishore Prasad Sinha.
Ministry of Statistics and Programme Implementation (MoSPI) revises India GDP growth to 7.8% for Q3 FY26 and raises FY26 estimate to 7.6%
[Ministry of Statistics and Programme Implementation (MoSPI)]
Key Updates:
- India’s GDP growth slowed to 7.8% in Q3 FY26 from 8.4% in Q2 FY26 but exceeded ET poll estimate of 7.4%.
- GDP growth for FY26 has been revised upwards to 7.6% from the earlier first advance estimate of 7.4%.
- The new GDP series uses 2022-23 as the base year, replacing the previous 2011-12 series.
- Manufacturing sector recorded double-digit growth in FY2023-24 and FY2025-26.
- The ‘Trade, Repair, Hotels, Transport, Communication & Services related to Broadcasting and Storage’ segment grew by 10.1% in FY2025-26.
- Private Final Consumption Expenditure (PFCE) and Gross Fixed Capital Formation (GFCF) both grew by more than 7% in FY2025-26.
- The GDP series now incorporates double deflation for agriculture and manufacturing sectors.
- The Proportional Denton Benchmarking method has been adopted for aligning quarterly and annual GDP estimates.
Similar Coverage
- India’s Q3 FY26 GDP growth slowed to 7.8% from the preceding quarter’s 8.4%.
- The new GDP series uses 2022-23 as its base year, replacing the earlier 2011-12 series.
- MoSPI’s second advance estimate pegs FY26 GDP growth at 7.6%, up from the first advance estimate of 7.4%.
- Manufacturing posted double-digit growth in FY2023-24 and FY2025-26.
- The ‘Trade, Repair, Hotels, Transport, Communication & Services related to Broadcasting and Storage’ segment grew 10.1% in FY2025-26.
- Private Final Consumption Expenditure (PFCE) and Gross Fixed Capital Formation (GFCF) each rose over 7% in FY2025-26.
- The series adopts double deflation for agriculture and manufacturing to improve real value-added measurement.
- Proportional Denton Benchmarking replaces the pro-rata method for quarterly national accounts to align quarterly and annual estimates.
- State Bank of India (SBI) forecasts 8.1% GDP growth for Q3FY26 despite global headwinds.
- High-frequency indicators show strong growth momentum in Q3FY26.
- Rural consumption remained firm on positive farm and non-farm signals.
- Urban consumption rose consistently, helped by fiscal stimulus and higher post-festive spending.
- Ministry of Statistics and Programme Implementation will release second advance GDP estimates for FY26 on 27 February.
- Base year for GDP calculation is being updated from 2011-12 to 2022-23.
- First advance estimates pegged FY26 GDP growth at 7.4%.
- Economic Survey projects FY26 growth around 7% and FY27 growth in the 6.8-7.2% range.
- ICRA forecasts India’s YoY GDP growth at 7.2% in Q3 FY2025-26, down from 8.2% in Q2 FY2025-26.
- Services GVA growth eased to 7.8% in Q3 FY2025-26 from 9.2% in Q2 FY2025-26.
- Agriculture GVA growth slowed to 3.0% in Q3 FY2025-26 from 3.5% in Q2 FY2025-26.
- Industrial sector GVA hit a six-quarter high of 8.3% in Q3 FY2025-26 versus 7.7% in Q2 FY2025-26.
- Government of India’s gross capital expenditure contracted 23.4% YoY in Q3 FY2025-26 after 40.0% YoY growth in H1 FY2025-26.
- GoI’s gross capex fell to Rs. 2.1 trillion in Q3 FY2025-26 from Rs. 3.1 trillion in Q2 FY2025-26.
- Combined Central and state non-interest revenue expenditure rose marginally by 0.3% YoY in Q3 FY2025-26 against a 0.6% decline in Q2 FY2025-26.
- India’s services exports growth slowed to a seven-quarter low of 7.5% YoY in Q3 FY2025-26 at USD 111.2 billion.
Reserve Bank of India (RBI) approves SBI Mutual Fund to acquire up to 9.99% stake in Bandhan Bank.
[Reserve Bank of India (RBI), SBI Mutual Fund, Bandhan Bank]
Key Updates:
- Reserve Bank of India (RBI) approved SBI Mutual Fund’s proposal to acquire up to 9.99% of the paid-up share capital or voting rights in Bandhan Bank.
- RBI communicated the approval through a letter dated 25 February 2026.
- The approval is subject to compliance with the Banking Regulation Act, 1949; RBI (Commercial Banks’ Acquisition and Holding of Shares or Voting Rights) Directions, 2025 dated 28 November 2025; Foreign Exchange Management Act, 1999; and Securities and Exchange Board of India regulations.
- If SBI Mutual Fund fails to acquire the major shareholding within one year from RBI’s letter date, the approval will stand cancelled.
- SBI Mutual Fund’s aggregate holding must not exceed 9.99% of Bandhan Bank’s paid-up share capital or voting rights at any time.
- If SBI Mutual Fund’s aggregate holding falls below 5%, prior RBI approval is required to raise it back to 5% or more.
- Bandhan Bank shares closed 1.77% higher at ₹186.11 on NSE on Thursday.
Similar Coverage
- The Reserve Bank of India (RBI) granted final approval on 13 February 2026 for the acquisition of up to 41.66 per cent of the paid-up equity capital of Manappuram Finance by Bain Capital.
- The acquisition will be executed through Bain Capital affiliates, BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
- Bain Capital committed to an investment of approximately ₹4,385 crore to acquire an initial 18 per cent stake through preferential allotment of equity shares and warrants at ₹236 per share.
- The transaction includes a mandatory open offer for an additional 26 per cent stake from public shareholders at ₹236 per share, as per the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Upon completion, Bain Capital will be classified as a promoter and will jointly control Manappuram Finance with the existing promoters.
- The existing promoters will retain a 28.9 per cent stake in the gold loan financier on a fully diluted basis post-investment.
- V P Nandakumar serves as the Managing Director (MD) and Chief Executive Officer (CEO) of Manappuram Finance.
- Foreign direct investment (FDI) equity inflow in the banking sector dropped from $898 million in FY23 to $115 million in FY25.
- Total FDI inflow comprises equity inflow, equity capital of unincorporated bodies, re-invested earnings, and other capital.
- Reserve Bank of India (RBI) Master Directions require its prior approval for any share acquisition giving a person 5% or more of a bank’s paid-up capital.
- Foreign holding in State Bank of India (SBI) stood at 11.07% at end-March 2025, the highest among public sector banks.
- Canara Bank recorded 10.55% foreign holding, Bank of Baroda 9.43%, Union Bank of India 7.48%, and Punjab National Bank 5.85% at end-FY25.
- Under Pradhan Mantri Mudra Yojana (PMMY), over 56.31 crore loan accounts amounting to ₹37.31 lakh crore have been disbursed as on 2 January 2026.
- Securities and Exchange Board of India (SEBI) has disgorged ₹665.26 crore through enforcement orders against unregistered investment advisers since 2024.
- Reserve Bank of India (RBI) allows banks to finance acquisitions up to 20% of their tier-1 capital, doubling the earlier draft cap of 10%.
- Aggregate capital market exposure (CME) of a bank must not exceed 40% of its eligible capital base on both solo and consolidated basis.
- Direct capital market exposure, comprising investment exposures, capped at 20% of eligible capital base on solo and consolidated basis.
- Banks can fund up to 75% of the acquisition value for both listed and unlisted entities.
- Debt-equity ratio of 3:1 required for the acquiring company together with the target on a consolidated basis.
- Acquisition must result in acquirer gaining control of the target through a single transaction or interconnected transactions completed within 12 months.
- Loan-to-value ratios set at 75% for mutual funds, 60% for loans against shares and NCDs, and 85% for debt mutual funds.
- Banks permitted to lend against government securities, sovereign gold bonds, loan against shares, NCDs, mutual funds, ETF units and InvITs.
- The RBI has approved the application for ICICI Prudential Asset Management Company Limited (ICICI Prudential AMC), along with group entities of ICICI Bank, to acquire an aggregate holding of up to 9.95% in eight banks.
- The lenders covered under the approval are Bandhan Bank Limited, City Union Bank Limited, Equitas Small Finance Bank Limited, Federal Bank Limited, IDFC First Bank Limited, HDFC Bank Limited, The Karur Vysya Bank Limited, and RBL Bank Limited.
- ICICI Bank, the second-largest private sector lender in India, must complete the acquisition of paid-up equity capital or voting rights within one year from the date of the RBI letter.
- The permissions were granted under the consolidated Master Direction on acquisition and holding of shares or voting rights in banking companies.
Reliance Industries Limited (RIL) restructures Reliance Enterprise Intelligence Limited (REIL) stake; Meta subsidiary acquires 30% stake
[Reliance Industries Limited (RIL), Meta]
Key Updates:
- Reliance Enterprise Intelligence Limited (REIL) allotted 85,31,75,000 equity shares of face value Rs 10 each at par.
- Reliance Intelligence Limited, a wholly owned subsidiary of Reliance Industries Limited (RIL), received 59,66,22,500 equity shares aggregating Rs 596.6 crore.
- Facebook Overseas Inc, a wholly owned subsidiary of Meta Platforms Inc, received 25,65,52,500 equity shares aggregating Rs 256.6 crore.
- Post allotment, Reliance Intelligence Limited holds 70% of REIL's total equity capital and Facebook Overseas Inc holds 30%.
- REIL has ceased to be a step-down wholly owned subsidiary of RIL and has become a step-down subsidiary.
Similar Coverage
- Piramal Finance secures USD 350 million in multilateral funding from IFC and ADB.
- IFC commits USD 200 million and ADB commits USD 150 million.
- Facilities have a five-year tenor and will be drawn in tranches through March 2026.
- Capital will be deployed to expand affordable housing, MSME, and women-focused lending in tier 2 and tier 3 cities.
- Piramal Finance targets an additional USD 150 million from development finance institutions, raising total pipeline to USD 500 million.
- In FY25, the NBFC raised USD 815 million via external commercial borrowings, with ECBs forming 9 percent of total borrowings.
- The Reserve Bank of India (RBI) granted final approval on 13 February 2026 for the acquisition of up to 41.66 per cent of the paid-up equity capital of Manappuram Finance by Bain Capital.
- The acquisition will be executed through Bain Capital affiliates, BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
- Bain Capital committed to an investment of approximately ₹4,385 crore to acquire an initial 18 per cent stake through preferential allotment of equity shares and warrants at ₹236 per share.
- The transaction includes a mandatory open offer for an additional 26 per cent stake from public shareholders at ₹236 per share, as per the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Upon completion, Bain Capital will be classified as a promoter and will jointly control Manappuram Finance with the existing promoters.
- The existing promoters will retain a 28.9 per cent stake in the gold loan financier on a fully diluted basis post-investment.
- V P Nandakumar serves as the Managing Director (MD) and Chief Executive Officer (CEO) of Manappuram Finance.
- Reserve Bank of India (RBI) has approved Blackstone’s acquisition of up to 9.99 per cent stake in Federal Bank.
- Competition Commission of India (CCI) had cleared the proposal in December 2025.
- Federal Bank will issue up to 272.97 million warrants convertible into equity shares of face value ₹2 at ₹227 per share.
- Blackstone will invest ₹6,196.51 crore through its affiliate Asia II Topco XIII Pte Ltd.
- Post-transaction, Blackstone can nominate a director if its shareholding remains at or above 5 per cent.
- Upon full conversion, Blackstone will become the single largest shareholder in Federal Bank.
- Federal Bank reported a 9 per cent YoY rise in Q3 FY26 net profit to ₹1,041 crore.
- Gross NPAs declined to 1.72 per cent and net NPAs to 0.42 per cent in Q3 FY26.
- Net interest income rose 9 per cent YoY to ₹2,653 crore; net interest margin improved to 3.18 per cent.
- The Competition Commission of India (CCI) approved the acquisition of a shareholding between 51% and 74% in RBL Bank Limited (RBL) by Emirates NBD Bank P.J.S.C. (ENBD) on 20 January 2026.
- The transaction includes a mandatory open offer under SEBI regulations representing up to 26% of the expanded voting capital of RBL.
- The deal involves a preferential allotment of equity shares amounting to up to 60% of the total paid-up equity share capital of RBL.
- The proposal includes the amalgamation of ENBD’s Indian banking operations, which operate through a network of 3 branches, into RBL on a going concern basis.
Asian Development Bank (ADB) approves $300 million loan to IIFL Home Finance for women-focused affordable housing.
[Asian Development Bank (ADB), International Finance Corporation (IFC)]
Key Updates:
- IIFL Home Finance Limited signed a $300 million loan agreement with Asian Development Bank (ADB).
- The loan targets women in low-income communities in peri-urban and urban areas and lagging states of India.
- Over 25% of the loan proceeds are earmarked for green-certified affordable homes.
- The financing package includes $150 million from ADB and $150 million in parallel loans from MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank.
- This marks IIFL Home Finance’s first syndicated external commercial borrowing.
Similar Coverage
- The Asian Development Bank (ADB) has signed a senior secured debt financing package of up to USD 108 million (approximately ₹983 crore) with Non-Banking Financial Company (NBFC) Aavas Financiers.
- The package includes USD 8 million in concessional debt financing through the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA).
- The financing aims to expand access to affordable housing loans for lower-income households and business loans for Micro, Small, and Medium-sized Enterprises (MSMEs) in underserved Indian states.
- Under the agreement, at least 70 per cent of the ADB debt financing is earmarked for housing loans for lower-income borrowers.
- A minimum of 50 per cent of the housing loans will be allocated to women property owners as sole or joint owners.
- The remaining 30 per cent of the total financing will be onlent to MSMEs to support entrepreneurship and job creation.
- The transaction includes up to USD 1,50,000 in technical assistance to build institutional capacity and boost market awareness of green housing solutions.
- CANPA is a trust fund managed by ADB, established in 2024 with a commitment of 360 million Canadian dollars from the Canadian government.
- World Bank approved $830 million loan for PM-SETU to revamp Industrial Training Institutes (ITIs).
- PM-SETU targets training over 1 million skilled workers annually and mobilising at least $680 million in private investment.
- Programme adopts hub-and-spoke model: 200 advanced hub ITIs and 800 spoke ITIs district-wide.
- Loan has 19.5-year final maturity including 4-year grace period.
- Curricula will be updated and at least 25% of ITI students will be women.
- Special Purpose Vehicles (SPVs) with anchor firms will manage government-owned but industry-run operations.
- Focus sectors include manufacturing, electric vehicles (EVs), artificial intelligence (AI), green energy, textiles, and construction.
- SMFCL board approves loans of Rs 4,300 crore for disbursement in the current fiscal.
- SMFCL targets a loan book size of Rs 8,000 crore by FY 2025-26.
- SMFCL is India’s first maritime sector-specific NBFC registered with RBI.
- Ministry of Ports, Shipping and Waterways designates SMFCL as nodal agency for Rs 25,000 crore Maritime Development Fund.
- Maritime Development Fund comprises Rs 20,000 crore Maritime Investment Fund and Rs 5,000 crore Interest Incentivization Fund.
- SMFCL will channelise the Rs 5,000 crore Interest Incentivization Fund.
- Notification of Rs 44,700 crore Shipbuilding Financing Assistance Scheme guidelines to open new investment avenues for SMFCL.
- SMFCL will offer tailored short-term, medium-term, long-term loans and non-fund-based products to government and private maritime entities.
- Piramal Finance secures USD 350 million in multilateral funding from IFC and ADB.
- IFC commits USD 200 million and ADB commits USD 150 million.
- Facilities have a five-year tenor and will be drawn in tranches through March 2026.
- Capital will be deployed to expand affordable housing, MSME, and women-focused lending in tier 2 and tier 3 cities.
- Piramal Finance targets an additional USD 150 million from development finance institutions, raising total pipeline to USD 500 million.
- In FY25, the NBFC raised USD 815 million via external commercial borrowings, with ECBs forming 9 percent of total borrowings.
Central Bank of India partners with Canara Robeco AMC to distribute mutual fund products.
[Central Bank of India, Canara Robeco AMC]
Key Updates:
- Central Bank of India signed a distribution agreement with Canara Robeco Asset Management Company Ltd (CRAMC) on 27 February 2026.
- CRAMC is a joint venture between Canara Bank and ORIX Corporation Europe and was established in 1987.
- CRAMC reported total assets under management of ₹1.22 lakh crore as of December 2025.
- CRAMC serves over 50 lakh investors across India.
- The partnership will enable Central Bank of India customers to access CRAMC’s mutual fund products through the bank’s network.
Similar Coverage
- Central Bank of India (CBI) has entered into a distributorship agreement with HSBC Asset Management India Pvt Ltd (HSBC AMC) to offer mutual fund products to its customers.
- HSBC AMC, which acquired the L&T Investment Management business in November 2022, recorded a daily average Assets Under Management (AUM) of ₹1.39 lakh crore in December 2025.
- CBI reported a 31.6% year-on-year increase in net profit to ₹1,262 crore for the December quarter.
- The net interest income of CBI for the December quarter stood at ₹3,503 crore, reflecting a 1% decline compared to the previous year.
- The asset quality of CBI improved during the quarter, with Gross Non-Performing Assets (GNPA) declining to 2.7% and Net NPAs easing to 0.45%.
- Reliance Consumer Products Limited (RCPL), the Fast-Moving Consumer Goods (FMCG) arm of Reliance Industries Limited (RIL), has signed a definitive agreement to form a majority-owned joint venture with Nigeria-based Tropical General Investments (TGI) Group.
- The partnership aims to introduce the FMCG portfolio of RCPL to the Nigerian market by leveraging the manufacturing and distribution network of TGI Group.
- The joint venture is intended to expand the global footprint of RCPL, which already maintains a presence across the Middle East, South Asia, and Africa.
- TGI Group operates a diversified portfolio including food, agricultural inputs, industrial chemicals, homecare products, and pharmaceuticals.
- The agreement is subject to customary legal and regulatory clearances before commencement.
- Canara Bank (CB) launches Canara ai1Pe, a unified UPI app enabling instant payments, shared expenses via UPI Delegate, spend analytics, UPI Lite, and rewards.
- The app allows users to link bank accounts from any bank for instant money transfers, merchant payments, and bill settlements.
- Payments are secured through UPI PIN authentication and device-binding that restricts transactions to the registered mobile handset.
- UPI Delegate (UPI Circle) lets a primary account holder add trusted family members as delegates who can spend up to ₹15,000 per month.
- Spend analytics provide month-on-month spending insights, expenditure categorisation and financial trends.
- UPI Autopay automates recurring payments for subscriptions, EMIs, SIPs and utility bills.
- UPI Lite permits small-value payments without entering UPI PIN for every transaction.
- The app features a widget-based QR scan for quick scan-and-pay from the home screen and offers real-time transaction updates, payment reminders, transaction history access, plus rewards and cashback eligibility.
- Canara Bank will integrate NPCI BHIM Services Limited (NBSL) bank plugins to offer Unified Payments Interface (UPI) services on its banking app, Canara ai1Pe.
- Canara Bank is the first financial institution to adopt this technology stack approach from NBSL to host UPI features and upgrades.
- NBSL was established as a wholly owned subsidiary of the National Payments Corporation of India (NPCI) in 2024.
- The Unified Payments Interface (UPI) recorded 21.63 billion transactions worth ₹27.97 trillion at the end of 2025.
- The Public Sector Undertaking (PSU) Bank index grew by 31% in 2025, outperforming the Nifty for the fifth consecutive year.
- The Indian Rupee (INR) breached the 91 per US Dollar mark as Foreign Portfolio Investors (FPIs) sold ₹29,300 crore in 2026.
- In 2025, BHIM presented a proof of concept for BHIM Vishwas, a technology stack designed for white-labeling payment capabilities for banks.
DFCC Bank lists Sri Lanka’s first Blue Bond worth LKR 3 billion on NSE International Exchange (NSE IX) at GIFT City.
[DFCC Bank, NSE International Exchange (NSE IX), Gujarat International Finance Tec-City (GIFT City)]
Key Updates:
- DFCC Bank’s LKR 3 billion Blue Bond is Sri Lanka’s first-ever Blue Bond and is primarily listed on the Colombo Stock Exchange (CSE).
- The bond has been dually listed on NSE International Exchange (NSE IX) at GIFT City, becoming the first blue bond admitted for trading within India’s International Financial Services Centre (IFSC) jurisdiction.
- The dual listing was facilitated under a Memorandum of Understanding between NSE IX and the Colombo Stock Exchange signed at GIFT City on Friday.
- DFCC Bank introduced the blue bonds in November 2025 to finance sustainable use of marine resources, supply of clean drinking water, aquatic pollution control, and related sustainable economic activities.
- Blue bonds are a subset of green bonds that channel proceeds specifically toward marine conservation, sustainable fisheries, ocean-based economic activity, and broader water-related environmental projects.
- In June 2025, NSE IX hosted DFCC Bank PLC’s leadership at GIFT IFSC to mark the listing of its LKR 2.5 billion foreign-currency green bonds, Sri Lanka’s first renewable energy-focused capital market debt instrument and the first foreign corporate issuance admitted to trading on the exchange.
Similar Coverage
- NITI Aayog CEO Shri B.V.R. Subrahmanyam released the report titled “Deepening the Corporate Bond Market in India” on 11th December 2025 in New Delhi.
- The report outlines a reform-oriented roadmap to build a deeper, more resilient, and inclusive bond market capable of supporting India’s long-term investment requirements.
- India’s corporate bond market remains constrained by limited market depth, concentrated investor profiles, and modest secondary-market activity.
- The report recommends strengthening legal and regulatory frameworks, enhancing market infrastructure and transparency, and facilitating greater issuance by mid-size firms.
- It proposes broadening participation of insurance, pension and retail investors and expanding product offerings such as credit-enhanced instruments, long-tenor bonds, and sustainability-linked products.
- The study advocates improving liquidity in primary and secondary markets through deeper market-making and repo facilities and leveraging digital innovations including tokenised bonds and integrated data systems.
- India and Seychelles adopted a comprehensive Joint Vision for Sustainability, Economic Growth and Security through Enhanced Linkages (SESEL) on 9 February 2026.
- The visit of Seychelles President Patrick Herminie coincides with the 50th anniversary of Seychelles' Independence and 50 years of diplomatic relations between the two nations.
- India announced a USD 175 million Special Economic Package for Seychelles, consisting of a USD 125 million Rupee-denominated Line of Credit and USD 50 million in grant assistance.
- Seven Memoranda of Understanding (MoUs) were signed covering pharmacopoeial cooperation, meteorological collaboration, a Cultural Exchange Programme (2026-2030), digital transformation, maritime research, civil servant training, and food procurement.
- India will provide a gratis refit for the patrol ship PS Zoraster and gift 10 ambulances, 10 utility vehicles, and five Laser Radial class boats to the Seychelles Defence Force.
- The package includes the provision of 1,000 metric tonnes of grains and lentils and the establishment of a Seychelles Hydrographic Unit with Indian assistance.
- Seychelles has decided to become a full member of the Colombo Security Conclave (CSC).
- President Patrick Herminie reaffirmed Seychelles' support for India's permanent membership in an expanded United Nations Security Council (UNSC).
- The partnership is framed under India's MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions) vision for the Indian Ocean Region.
- India will support Seychelles in building Digital Public Infrastructure (DPI) and digitising governance systems, including digital payments and financial inclusion.
NSIC upgraded to Schedule A CPSE status by Ministry of Micro, Small and Medium Enterprises (MSME)
[National Small Industries Corporation (NSIC), Ministry of Micro, Small and Medium Enterprises (MSME)]
Key Updates:
- The Ministry of Micro, Small and Medium Enterprises (MSME) announced the upgrade of National Small Industries Corporation (NSIC) to Schedule A Central Public Sector Enterprise (CPSE) status.
- Schedule A recognition enhances NSIC’s managerial, operational and financial powers.
- NSIC received an “Excellent” rating from the Department of Public Enterprises for 2024–25.
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- National Productivity Council (NPC) will celebrate its 68th Foundation Day on 12 February 2026 and observe National Productivity Week from 12 to 18 February 2026 across the country.
- The theme for the 68th National Productivity Week is 'Clusters as Growth Engine: Maximizing Productivity in MSMEs'.
- Union Minister of Commerce and Industry and President, National Productivity Council, Shri Piyush Goyal, emphasised strengthening Micro, Small and Medium Enterprises (MSMEs), enhancing manufacturing competitiveness and promoting sustainable industrialisation.
- NPC has 12 Regional Directorates located at Bengaluru, Bhubaneswar, Chandigarh, Chennai, Gandhinagar, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai and Patna.
- Twenty-four Local Productivity Councils, concerned Ministries of the Government of India, State Governments, industry associations and academic institutions will collaborate in conducting outreach and awareness activities during the week.
- National Productivity Council (NPC), an autonomous society under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, was established in 1958.
- NPC is a constituent of the Tokyo-based Asian Productivity Organisation (APO), an inter-governmental body of which the Government of India is a founding member and the current Chair.
- The Department for Promotion of Industry and Internal Trade (DPIIT) notified revised startup recognition criteria on 5 February 2026.
- General startup turnover limit raised from ₹100 crore to ₹200 crore.
- New 'Deep Tech Startup' sub-category introduced with age limit extended to 20 years and turnover cap of ₹300 crore.
- Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002 and cooperative societies under State/UT Acts now eligible for startup recognition.
- The Government of India announced the implementation of the National Scheduled Caste and Scheduled Tribe Hub (NSSH) Scheme under the Ministry of Micro, Small & Medium Enterprises (MSME) in December 2025.
- The NSSH Scheme aims to enhance the competitiveness of SC/ST-owned enterprises by ensuring a minimum of 4% procurement from these businesses is fulfilled under the Public Procurement Policy.
- The scheme provides structured support through vendor development programmes, special marketing assistance, and capacity building to help SC/ST MSMEs compete for government contracts.
- To access benefits, entrepreneurs must complete Udyam Registration and register under the Single Point Registration Scheme (SPRS) to ensure visibility in government procurement databases.
- The initiative supports participation in national and international exhibitions to broaden market reach and expand networks for underserved entrepreneurs.
- NITI Aayog released the report 'Achieving Efficiencies in MSME Sector through Convergence of Schemes' recommending convergence of 18 Ministry of MSME schemes.
- The report recommends an AI-powered central portal integrating schemes, compliance, finance and market intelligence.
- It proposes integrating the Scheme of Fund for Regeneration of Traditional Industries (SFURTI) with the MSE–Cluster Development Programme under a unified governance structure.
- A dedicated Marketing Assistance Wing with domestic and international components is suggested to streamline market access.
- Skill development initiatives are to be rationalised into a three-tier structure covering entrepreneurship, technical skills and training for rural and women artisans.
- The report stresses safeguarding targeted initiatives such as the National SC/ST Hub and programmes for the North Eastern Region, while retaining flagship schemes like PMEGP and PM Vishwakarma.
Ministry of Culture (MoC) & Federation of Indian Chambers of Commerce and Industry (FICCI) sign MoU to develop comprehensive strategy for India’s Cultural & Creative Economy
[Ministry of Culture (MoC), Federation of Indian Chambers of Commerce and Industry (FICCI)]
Key Updates:
- The Ministry of Culture (MoC) and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed an MoU on 25 February 2026 to craft a comprehensive strategy for India’s Cultural and Creative Economy.
- Union Culture and Tourism Minister Gajendra Singh Shekhawat stated the agreement positions culture as the foundation of economic prosperity.
- The MoU aims to secure a brighter future for India’s artists and artisans.
- The Minister highlighted that the MoU can help gain global recognition for Indian cultural products and services.
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- Union Budget 2026–27 proposes support for Indian Institute of Creative Technologies Mumbai to set up AVCG content creator labs in 15,000 secondary schools and 500 colleges across India.
- India’s AVCG sector is projected to require 2 million professionals by 2030.
- Economic Survey 2025–26 terms creative industries as the Orange Economy, deriving value from ideas and cultural capital rather than physical goods.
- UNCTAD estimates show creative industries contribute between 0.5% and over 7% of GDP across countries.
- In 2019, live music in the United States generated over USD 130 billion in economic output and supported more than 900,000 jobs.
- UK music tourism contributed £6.6 billion, around 0.3% of GDP, in 2022.
- Concerts act as short-duration tourism multipliers, intensifying spending on accommodation, food, transport and city services.
- India’s concert economy remains nascent but is expanding due to a young population, rising discretionary spending, digital ticketing platforms and improving urban infrastructure.
- Event organisers in India currently require between 10 and 15 separate clearances for live entertainment events.
- Ministry of Information and Broadcasting is working towards a single-window mechanism for live entertainment permissions, including approvals from state governments.
- GIFT City and AJNIFM signed an MoU on 18 February 2026 to collaborate on capacity building, academic engagement, and knowledge exchange in international finance, governance, and financial technology under the GIFT International FinTech Institute.
- AJNIFM is an autonomous institution under the Ministry of Finance, Government of India.
- A five-day Industry Immersion Programme for second-year MBA students of AJNIFM commenced at GIFT City as part of the MoU.
- The programme offers exposure to regulatory frameworks, cross-border financial services, digital finance innovations, capital market operations, and institutional strategies at GIFT City.
- The MoU framework includes joint research, executive education, faculty exchanges, and knowledge platforms.
- India joined the BRICS Centre for Industrial Competencies (BCIC) on 4 February 2026.
- BCIC was launched by the United Nations Industrial Development Organisation (UNIDO) in 2025.
- The National Productivity Council (NPC) has been designated as the India Centre for BCIC.
- A trust fund agreement formalising India’s participation was signed between the Department for Promotion of Industry and Internal Trade (DPIIT) and UNIDO.
- The agreement was signed by Economic Adviser, DPIIT, Agrim Kaushal, and Director, UNIDO, Cristiano Pasini.
- NPC will operate under DPIIT’s policy direction to support capacity building and manufacturing-related initiatives for MSMEs within the BRICS framework.
- The launch event was presided over by Secretary, DPIIT, Amardeep Singh Bhatia.
- Attendees included senior officials from DPIIT, the Ministry of MSME, the Ministry of External Affairs, UNIDO representatives, and the Federation of Indian Chambers of Commerce and Industry (FICCI).
- The Ministry of Tourism (MoT), Government of India and Mastercard have signed a two-year Memorandum of Understanding (MoU).
- The collaboration aims to boost India's appeal as a premium destination for domestic and international travelers.
- The partnership will leverage Mastercard's global platforms, including its renowned Priceless program, to spotlight India's rich cultural, spiritual, natural, and culinary treasures worldwide.
- The initiative will strengthen the tourism ecosystem by engaging public and private stakeholders to promote secure and responsible digital payment practices.
- As the official Knowledge Partner, MoT will identify strategic travel corridors and facilitate partnerships with relevant entities such as State Tourism Boards, the Archaeological Survey of India, and Ministry of Culture.
- The MoU will strengthen the tourism value chain by encouraging the responsible and secure use of payment systems, supporting the adoption of safe and seamless digital payments, and exploring the introduction of innovative, co-branded payment products.
World Economic Forum (WEF) President Børge Brende steps down after Epstein links review
[World Economic Forum (WEF)]
Key Updates:
- Børge Brende announced his resignation as President and CEO of the World Economic Forum (WEF) after an internal review into his contacts with Jeffrey Epstein.
- The WEF review, conducted by outside counsel, found no additional concerns beyond previously disclosed interactions.
- Alois Zwinggi will serve as interim President and CEO of the WEF.
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- Deepinder Goyal resigned from his position as the Group Chief Executive Officer (CEO) of Eternal, the company that operates Zomato and Blinkit.
- Albinder Dhindsa was appointed as the new Group CEO of Eternal, succeeding Deepinder Goyal.
- Deepinder Goyal will transition to the role of Vice Chairman of the board of directors at Eternal, subject to shareholder approval.
- Albinder Dhindsa previously served as the leader of Blinkit and oversaw its journey from acquisition to breakeven.
- Deepinder Goyal’s unvested Employee Stock Ownership Plans (ESOPs) will be returned to the company's ESOP pool as part of the leadership transition.
- Deepinder Goyal stated that his decision to step down was driven by a desire to pursue high-risk exploration and experimentation outside of a public company framework.
- Milan Nedeljkovic has been appointed as the Chairman and Chief Executive Officer (CEO) of BMW Group.
- He will assume his role.
- He succeeds Oliver Zipse.
- Milan Nedeljkovic is an industry veteran in the German automaker.
- He has been a member of the Board of Management at BMW AG.
- He was responsible for the company's production.
- He completed his mechanical engineering from RWTH Aachen University and the Massachusetts Institute of Technology (MIT).
- He also completed his doctorate at the Chair of Forming Technology and Foundry Engineering of the Technical University of Munich.
- B P Kanungo has been appointed as the non-executive chairman of the board of IIFL Finance Ltd.
- He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was a member of the Monetary Policy Committee.
- As chairman, Kanungo will lead the board in setting strategic direction, enhancing governance standards, and safeguarding the interests of shareholders, customers, regulators, and other stakeholders.
- More than 80 Indian CEOs are slated to attend the World Economic Forum's 56th annual conference in Davos from January 19 to 23.
- Senior Union ministers and delegations from a record nine states will spotlight efforts to engage global investors.
- Expected Indian corporate attendees include N Chandrasekaran of Tata Sons, Sunil Mittal of Bharti Group, Sajjan Jindal of JSW Group, Anish Shah of Mahindra Group, and Infosys non-executive chairman Nandan Nilekani.
- States sending delegations include Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Jharkhand and Kerala, some led by chief ministers such as Devendra Fadnavis and N Chandrababu Naidu.
- The WEF 2026 will feature six leaders of the G7, 65 heads of state and government, 850 top CEOs and chairpersons and around 100 leading unicorns and technology leaders.
Indian Navy to commission INS Anjadip at Chennai port on 27 February
[Indian Navy, Tamil Nadu]
Key Updates:
- INS Anjadip is the third of eight vessels built under the anti-submarine warfare shallow water craft project.
- Built by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata, the 77-metre-long ship achieves 25 knots via water-jet propulsion.
- The vessel carries the indigenous hull-mounted sonar Abhay, Lightweight Torpedoes and ASW Rockets for littoral anti-submarine warfare.
- Chief of the Naval Staff Admiral Dinesh K Tripathi will attend the commissioning ceremony on Friday.
- Named after Anjadip island off Karwar, North Karnataka, the ship will operate in coastal Tamil Nadu and Puducherry waters.
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- The Indian Navy is scheduled to commission Anjadip, the third ship in the eight-vessel Anti-Submarine Warfare (ASW) Shallow Water Craft (ASW-SWC) project.
- The commissioning ceremony will be held at Chennai Port on 27 February 2026, led by Admiral Dinesh K Tripathi, the Chief of the Naval Staff (CNS).
- The warship was built by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, as part of the Aatmanirbhar Bharat initiative in defence.
- Designed for littoral operations, the 77-metre vessel is nicknamed the Dolphin Hunter and is capable of reaching speeds up to 25 knots.
- The ship is equipped with an indigenous weapons and sensor package, including the Hull Mounted Sonar Abhay, Lightweight Torpedoes, and ASW Rockets.
- Anjadip will join the Eastern Naval Command to strengthen maritime security along the Tamil Nadu and Puducherry coasts.
- The vessel is designed to conduct coastal surveillance, low-intensity maritime operations (LIMO), and search and rescue missions.
- The warship is named after Anjadip Island located near Karwar.
- The first of three indigenous cadet training ships, named Krishna, was launched at the L&T Shipyard in Kattupalli, Chennai.
- The ship is named after the River Krishna, which is the third longest river in India.
- The vessel was launched in the presence of the Chief of Defence Staff (CDS) General Anil Chauhan and DWWA president Anupama.
- The Union Ministry of Defence (MoD) signed the contract for the three cadet training ships with M/s L&T Shipyard in March 2023.
- The ship is designed to accommodate a crew strength of 20 officers, 150 sailors, and 200 cadets.
- The primary role of the ship is to provide basic sea training to Navy cadets, while secondary roles include hospital ship, non-combatant evacuation, HADR, and SAR operations.
- The Union Environment Ministry launched the second pan-India counting exercise for dolphins to assess the status of Gangetic, Indus river and Irrawaddy dolphins.
- The survey commenced at Bijnor in Uttar Pradesh with 26 researchers in three boats, recording ecological and habitat parameters while using hydrophones for underwater acoustic monitoring.
- In the first phase, the survey will cover the main stem of the Ganga from Bijnor to Ganga Sagar and the Indus River.
- In the second phase, it will cover Brahmaputra, the tributaries of the Ganga, the Sundarbans, and Odisha.
- The previous survey recorded an estimated 6,327 dolphins in Ganga, Yamuna, Chambal, Gandak, Ghaghara, Kosi, Mahanada and Brahmaputra systems, and a small population of Indus river dolphins in the Beas.
- This survey will include Irrawaddy dolphin, found in the Sundarban delta and Odisha, to update population estimates, assess threats and habitat conditions.
- Led by Wildlife Institute of India, Dehradun, the survey is coordinated with state forest departments and organisations like WWF India, Aaranyak and Wildlife Trust of India.
- The Union Environment Ministry (UEM) launched the second pan-India counting exercise for dolphins, which will assess the status of Gangetic dolphin along with Indus river and Irrawaddy dolphins on 17 January 2026.
- The survey, Under Project Dolphin (PD), commenced at Bijnor in Uttar Pradesh with 26 researchers in three boats, recording ecological and habitat parameters while also using hydrophones for underwater acoustic monitoring.
- In the first phase, the survey will cover the main stem of the Ganga from Bijnor to Ganga Sagar and the Indus River.
- In the second phase, it will cover Brahmaputra, the tributaries of the Ganga, the Sundarbans, and Odisha to include the Irrawaddy dolphin found in the Sundarban delta.
- The survey is Led by Wildlife Institute of India (WII), Dehradun... in coordination with state forest departments and in collaboration with other organisations like WWF India, Aaranyak and Wildlife Trust of India (WTI).
- The counting exercise will generate robust scientific data to support conservation planning and policy action for river ecosystems.
NMDC Limited and Indian Institute of Technology Hyderabad (IITH) partner for indigenous mining technologies
[NMDC Limited, Indian Institute of Technology Hyderabad (IITH)]
Key Updates:
- NMDC Limited (NMDC) signed a Memorandum of Understanding (MoU) with Indian Institute of Technology Hyderabad (IITH) to strengthen research and academic collaboration in the mineral and metals sector.
- The partnership focuses on joint research in iron ore beneficiation and agglomeration, green steelmaking technologies, and alternate ironmaking using indigenous raw materials.
- Both institutions will collaborate on advanced modelling and simulation of mining and metallurgical processes.
- The initiative includes the extraction of critical and rare earth minerals from primary and secondary sources to enhance India’s mineral security.
- The collaboration covers digital transformation domains such as Artificial Intelligence (AI), Internet of Things (IoT), autonomous vehicle operations, Mining 4.0 frameworks, and drone-based surveying.
- The MoU was signed in the presence of IITH Director B. S. Murty and NMDC Chairman and Managing Director (CMD) Amitava Mukherjee.
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- Ministry of Coal and Mines inaugurated the Center of Excellence under National Critical Minerals Mission hosted in IIT (ISM) Dhanbad.
- The CoE will act as a national anchor for research and industry scale solutions in critical minerals, focusing on exploration, extraction, processing, recycling, reuse and waste-to-wealth.
- The CoE will partner with industry leaders and international universities such as University of Cambridge & St Petersburg University and will receive infrastructure support from IIT Gandhinagar, IIT BHU and CPI(UK).
- Virtual Reality Mine Simulator (VRMS), India’s first VR based mine simulator for coal mining safety and productivity, was also inaugurated.
- VRMS provides more than 20 training modules covering heavy equipment operation and critical safety SOPs and will provide scenario based assessment and certification for all levels of employees.
- TEXMiN Foundation (TEXMiN), the Technology Translation Research Park under the Department of Science & Technology (DST) at Indian Institute of Technology (Indian School of Mines) Dhanbad (IIT (ISM) Dhanbad), signed a memorandum of understanding (MoU) with Russia's GIREDMET.
- GIREDMET, formally the State Research and Design Institute of Rare Metal Industry, is a research institute under the Rosatom State Atomic Energy Corporation.
- The agreement was signed during the Industry-Institute Interaction 2026 (III-2026) conclave and exhibition held at IIT (ISM) Dhanbad.
- The partnership aims to establish a framework for cooperation across the mining value chain, including exploration, mineral beneficiation, extraction, separation, refining, and advanced materials development.
- A key focus area is the development of high-coercivity permanent magnet blocks based on neodymium-iron-boron (Nd-Fe-B), supported by a complete rare earth metallurgical cycle.
- The collaboration will explore hydrometallurgical recycling technologies for lithium-ion batteries to recover lithium, nickel, and cobalt.
- The institutions will develop recovery solutions for critical minerals from legacy mine dumps, tailings, and low-grade or complex ores.
- The planned work includes digital twin-enabled smart processing plants integrating artificial intelligence (AI), machine learning (ML), and sensor systems.
- The initiative aligns with India's National Critical Mineral Mission (NCMM) and Russia's Federal Project for the Development of Rare Metal Industry.
- Representatives from TEXMiN and IIT (ISM) Dhanbad will participate in the International Congress on Rare Metals, Materials and Related Technologies (RAREMET-2026) in Moscow from 20 to 22 May 2026.
- IIT Kanpur’s C3iHub will conduct cyber risk assessments and develop AI/ML solutions for enhanced operational efficiency in the mining sector.
- The collaboration will explore AI/ML-driven solutions, digital twins, predictive maintenance frameworks, and advanced data analytics across NMDC’s mining ecosystem.
- Both institutions will jointly undertake research, capacity-building programs, and technology pilots, with successful proofs-of-concept evaluated for scalable deployment.
- Coromandel International Ltd signed an MoU with the IIT Madras Research Park to establish a Corporate Research Centre.
- The centre will foster advanced collaboration in agriculture, sustainability and emerging technologies.
- It will act as a hub for joint research programmes, technology incubation, talent development and international collaboration.