International Finance Corporation (IFC) and Asian Development Bank (ADB) provide USD 350 million to Piramal Finance.
[International Finance Corporation (IFC), Asian Development Bank (ADB), Piramal Finance]
Key Updates:
- 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.
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- 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.
- RBI granted approval to foreign portfolio investor 1729 Capital to hold a total stake of 7.14% in Suryoday Small Finance Bank.
- As of September 30, the foreign portfolio investor held a 3.81% stake in the bank.
- The RBI clarified that prior consent will be required for any further increase in aggregate shareholding or voting rights.
- If the aggregate shareholding falls below 5%, the investor will again need prior RBI approval to raise the holding to 5% or more.
- NPCI Bharat BillPay Ltd (NBBL) currently covers 70-80 million households.
- NBBL plans to expand Bharat Connect and bill payment platforms to reach about 135 million households.
- CareEdge projects MSME and retail segments to drive 12% credit growth in FY26.
- NBFC borrowings projected to reach $750 billion by FY27 as markets shift towards capital markets.
- Piramal Finance eyes Rs 1 lakh crore AUM by FY26 as its retail portfolio scales up.
- ICICI Prudential Asset Management's IPO will be entirely an offer for sale (OFS) worth ₹10,000 crore.
- Prudential Corporation Holdings will sell 1.76 crore shares in the OFS.
- ICICI Bank owns 51% of ICICI Prudential AMC; Prudential Corporation Holdings holds the remaining 49%.
- Annu Projects' IPO comprises a fresh issue of 2.2 crore shares.
- Technocraft Ventures will raise capital through a fresh issue of 95.05 lakh shares and an OFS of 23.76 lakh shares.
- Powerica's IPO includes a fresh issue of ₹700 crore and an OFS of ₹700 crore.
ASEAN and India reaffirm shared commitment to strengthen regional digital cooperation
[Association of Southeast Asian Nations (ASEAN)]
Key Updates:
- The 6th ASEAN-India Digital Ministers Meeting was held virtually under the theme Adaptive ASEAN: From Connectivity to Connected Intelligence.
- The meeting was co-chaired by Telecom Secretary Amit Agrawal and Vietnam’s Minister of Science and Technology Nguyen Manh Hung.
- The ASEAN-India Digital Work Plan 2026 was approved, covering ICT training, the India-ASEAN Regulators’ Conference and telecom ICT solutions deployment.
- A special ASEAN-India Fund for the Digital Future was operationalised.
- India highlighted its Digital Public Infrastructure such as Aadhaar, UPI and DigiLocker, and the Sanchar Saathi initiative for telecom user protection and fraud prevention.
- India underlined cooperation in Artificial Intelligence through the IndiaAI Mission, emphasising safe and trusted AI.
Similar Coverage
- India will host the 16th ASEAN Defence Ministers’ Meeting (ADMM)-Plus Experts Working Group (EWG) on Counter-Terrorism (CT) in New Delhi from January 14 to 16, 2026.
- The 16th EWG on Counter-Terrorism will be co-chaired by India and Malaysia.
- Participation will include 11 ASEAN member states, 7 ADMM-Plus dialogue partners (Australia, New Zealand, Republic of Korea, Japan, China, United States and Russia), and representatives from the ASEAN Secretariat.
- Malaysia will host the Table Top Exercise (TTX) in 2026 and India will conduct the Field Training Exercise (FTX) in 2027.
- India and Germany signed a Joint Declaration of Intent (JDI) on Telecommunications Cooperation during German Federal Chancellor Friedrich Merz’s official visit to India.
- The JDI was signed by Telecom Secretary Amit Agrawal and German Ambassador to India Philipp Ackermann.
- The declaration was concluded between the Department of Telecommunications (DoT) and Germany’s Federal Ministry for Digital Transformation and Government Modernisation.
- Both sides agreed to promote collaboration in emerging and future technologies, policy and regulatory frameworks, manufacturing, and ease of doing business in telecom and ICT sectors.
- The pact establishes a framework for regular consultations, high-level annual meetings, and multi-stakeholder engagement involving government, industry, academia, and research institutions.
- India and Germany will jointly develop a work plan outlining specific goals and areas of mutual interest aligned with national priorities.
- Both countries will work together in international fora to promote common understanding on telecommunications and digital development.
- India co-chaired the 16th ADMM-Plus Experts Working Group (EWG) on Counter Terrorism with Malaysia.
- The meeting was addressed by Amitabh Prasad, Joint Secretary (International Cooperation), Ministry of Defence.
- India highlighted its Act East Policy and ASEAN's centrality in its Indo-Pacific vision.
- India and Malaysia launched the current cycle of the 14th EWG meeting last year in Delhi.
- A tabletop exercise will be hosted by Malaysia in 2026 and a field training exercise by India in 2027.
- Azerbaijan hosted the World Telecommunication Development Conference WTDC25, bringing together ITU members, ministers and global digital leaders to advance inclusive connectivity.
- Delegates highlighted cybersecurity, data protection, and the need for ethical deployment of emerging technologies.
- Discussions focused on bridging rural-urban gaps, reducing connectivity costs, and supporting developing nations.
- With more than 2,500 participants, the event marked a record for ITU development conferences and positioned Azerbaijan as a key digital collaborator.
- Leaders agreed that affordability, sustainability and global cooperation are essential to narrowing the digital divide.
India launches first open-sea marine fish farming project in Andaman Sea
[Andaman and Nicobar Islands]
Key Updates:
- The pilot project focuses on the open-sea cultivation of marine finfish and seaweed under natural ocean conditions, combining scientific innovation with livelihood generation.
- The project is being implemented through a collaborative effort involving the Ministry of Earth Sciences, Government of India, its technical arm the National Institute of Ocean Technology (NIOT), and the Union Territory Administration of Andaman and Nicobar Islands.
- Under the marine flora component, seaweed seeds were handed over to local fishing communities to encourage deep-water seaweed cultivation in the open sea.
- Under the marine fauna component, finfish seeds were provided for cage-based farming, using NIOT-developed open-sea cages specifically designed to operate in natural oceanic environments.
Similar Coverage
- India’s fish production surged 106 percent to 197.75 lakh tonnes in FY 2024–25 from 95.79 lakh tonnes in FY 2013–14.
- Average aquaculture productivity improved to 4.77 tonnes per hectare.
- India is now the world’s second-largest fish producer and leads in shrimp production and exports.
- Seafood exports reached 16.98 lakh tonnes worth Rs 62,408 crore in 2023–24.
- Government approved projects worth Rs 32,723 crore under PMMSY, PMMKSSY, FIDF and Blue Revolution since 2014–15, with total investments of Rs 38,572 crore.
- 74.66 lakh direct and indirect jobs created under various fisheries schemes since 2014–15.
- 34.71 lakh fishers covered under group accident insurance.
- 4.49 lakh Kisan Credit Cards worth Rs 3,569.60 crore issued to fishers.
- 4.33 lakh fisher families receive nutritional support during lean fishing periods.
- Fisheries Minister Rajiv Ranjan Singh arrived in Eilat, Israel, on Monday to partake in a global summit dedicated to blue food security.
- The 'Second Global Summit on Blue Food Security: Sea the Future' is set against the backdrop of the southern coastal city from January 13 to 15.
- The event focuses on enhancing food production in harsh climates through innovative technologies and highlights the surge in strategic ties between India and Israel.
- Government of India approved projects worth Rs 32,723 crore under Pradhan Mantri Matsya Sampada Yojana (PMMSY), Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PMMKSSY), Fisheries and Aquaculture Infrastructure Development Fund (FIDF) and Blue Revolution schemes since 2014–15, with total investments announced at Rs 38,572 crore.
- 74.66 lakh direct and indirect employment opportunities have been created under these fisheries schemes since 2014–15.
- 34.71 lakh fishers are covered under group accident insurance and 4.49 lakh Kisan Credit Cards worth Rs 3,569.60 crore have been issued to fishers.
- The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying (MoFAHD), Government of India joined hands with the Lakshadweep administration to organise the event.
- Investors called for value-added facilities for sashimi-grade tuna, fish oil refining capacities, the requirement of skilled labour, and ornamental fish brood banks for the strategic utilisation of Lakshadweep's Exclusive Economic Zone (EEC).
- Union ministers Rajiv Ranjan Singh, SP Singh Baghel and George Kurian, along with Praful Patel, the Administrator of Lakshadweep, attended the event.
Wikimedia Enterprise signs Microsoft, Meta, Amazon, Perplexity, and Mistral AI to paid high-volume API access deals
[Microsoft, Meta, Amazon]
Key Updates:
- Wikimedia Enterprise sells high-speed API access to Wikipedia’s 65 million articles at higher speeds and volumes than the free public APIs provide.
- Bandwidth used for downloading multimedia content had grown 50 percent since January 2024, with bots accounting for 65 percent of the most expensive requests to core infrastructure.
- Human traffic to Wikipedia had fallen approximately 8 percent year over year after the organization updated its bot-detection systems and discovered that much of what appeared to be human visitors were actually automated scrapers built to evade detection.
Similar Coverage
- Grokipedia is an AI-generated site developed by Elon Musk's company xAI
- Content is generated by artificial intelligence and the generative AI assistant Grok
- The site had more than 885,000 articles by Monday evening
- Musk stated the goal is 'the truth, the whole truth and nothing but the truth'
- Launch was delayed to 'purge out the propaganda'
- The government has proposed a 'One Nation, One Licence, One Payment' mandatory blanket licence for AI training, forcing companies to pay royalties to creators.
- The recommendations were released in a working paper by a committee led by the Department for Promotion of Industry and Internal Trade (DPIIT).
- Royalty rates would be fixed by a government-appointed committee and collected through a single collective body formed by copyright holders.
- Creators, including musicians, news publishers, and authors, are the target beneficiaries of these royalties.
- The paper suggests retroactive payment of royalties in cases where copyrighted data has already been ingested into AI systems.
- A new umbrella industry body, called the Copyright Royalties Collective for AI Training (CRCAT), will have to be set up by rights holders and be designated by the Central government under the Copyright Act, 1957.
- The Centre will constitute a committee to determine the royalty rate, which can set a certain percentage of the gross global revenue (excluding taxes) earned by an AI developer.
- The committee will review and adjust rates every 3 years.
- Department for Promotion of Industry and Internal Trade (DPIIT)-led committee proposes a mandatory blanket licence requiring all AI companies to pay royalties for using copyrighted work.
- Royalty rates will be fixed by a government-appointed committee and collected through a single collective body formed by copyright holders named Copyright Royalties Collective for AI Training (CRCAT).
- The obligation to pay royalties shall apply retroactively to AI developers who have already trained models on copyrighted content and are earning revenues.
- OpenAI has come to terms on a massive 7-year, $38 billion deal with Amazon Web Services.
- The deal is to secure cloud computing capabilities needed to power its suite of advanced AI tools such as ChatGPT and Sora.
- OpenAI will gain access to hundreds of thousands of Nvidia chips housed in Amazon’s global data centers.
- Full capacity from the agreement is slated to come online by the end of 2026, with expansion continuing through 2027 and beyond.
- OpenAI will use Amazon’s UltraServer clusters — racks of Nvidia GB200 and GB300 processors — to train and run its models, process ChatGPT queries, and expand its “agentic AI” systems.
- The partnership marks the first time OpenAI has turned to Amazon for infrastructure, breaking years of exclusive reliance on Microsoft’s Azure cloud.
- OpenAI restructured its ownership to gain more freedom in financing and operations, which removed Microsoft’s right of first refusal to supply cloud services.
- OpenAI has now committed nearly $600 billion in new cloud contracts across Amazon, Microsoft, Oracle, and Google to solve “severe computing shortages”.