Reserve Bank of India (RBI) authorizes Aryaman Finance (India) Limited as Type II NBFC-ND-ICC.
[Reserve Bank of India (RBI)]
Key Updates:
- Aryaman Finance (India) Limited, a wholly owned subsidiary of Aryaman Financial Services, received the Certificate of Registration from the Reserve Bank of India (RBI) on December 24, 2025.
- The certificate authorizes the company to operate as a Type II NBFC-ND-ICC (Non-Deposit taking - Investment and Credit Company).
- The subsidiary was incorporated on January 31, 2025, and received additional capital infusion on April 01, 2025.
- The company has complied with SEBI Listing Regulations disclosure requirements under Regulation 30.
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- NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) has received approval from the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust (InvIT).
- The Public InvIT aims to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.
- NHAI had incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for RIIT.
- RIIMPL has been established as a collaborative venture with equity participation from State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
- NRVVMK Rajendra Kumar, Member (Finance), NHAI, will be the Managing Director and CEO (Additional Charge) of the investment manager company.
- Rani Channamma Mahila Sahakari Bank (RCMS Bank) was honoured as the Best Profit-Making Bank in Belagavi District for 2025.
- The award was presented during the 72nd All India Cooperative Week celebrations held in Haveri.
- The Karnataka State Urban Cooperative Banks Federation, Bengaluru, presented the award.
- RCMS Bank is headquartered in Belgaum.
- The felicitation was received by the bank’s Chairperson, Preeti Kore Daddwad.
- Coop Kumbh 2025 was held in New Delhi.
- Coop Kumbh 2025 was inaugurated by Union Home and Cooperation Minister Amit Shah.
- RCMS Bank’s Professional Director, Ms. Beena Achar, highlighted the bank’s journey during Coop Kumbh 2025.
- NAFCUB Chairman Emeritus H. K. Patel was present at the award event.
- The Reserve Bank of India (RBI) has issued the Urban Co-operative Banks – Licensing, Scheduling and Regulatory Classification Guidelines, 2025.
- The RBI stated that no fresh proposals for the organization of new UCBs or the conversion of cooperative credit societies into UCBs are being considered.
- A four-tiered regulatory framework has been adopted for UCBs based on deposit size as of March 31 of the preceding financial year.
- Tier 1 UCBs include all unit UCBs, salary earners’ UCBs, and other UCBs with deposits up to ₹100 crore.
- Tier 2 UCBs are defined as those with deposits of more than ₹100 crore and up to ₹1000 crore.
- Tier 3 UCBs consist of those with deposits of more than ₹1000 crore and up to ₹10,000 crore.
- Tier 4 UCBs include those with deposits exceeding ₹10,000 crore.
- UCBs transitioning to a higher Tier are allowed a glide path of up to two years to comply with higher regulatory requirements.
- To be included in the Second Schedule to the RBI Act, 1934, a UCB must maintain Tier 3 deposit levels for two consecutive years.
- UCBs seeking scheduling must maintain a Capital to Risk-Weighted Assets Ratio (CRAR) of at least three per cent more than the minimum requirement.
- The eligibility for scheduling also requires the absence of major regulatory and supervisory concerns based on the latest RBI inspection or audited financials.
- The Reserve Bank of India (RBI) final guidelines allow banks and their group entities to continue overlapping lending activities, preventing restructuring for 12 large bank groups.
- The draft guidelines would have impacted 12 bank groups, accounting for ~55% of sectoral advances, and 2-6% of consolidated advances of individual banks.
- The final framework permits overlapping lending operations subject to board approval.
- Of the 26 bank group entities with lending operations, only two currently qualify as upper-layer Non-Banking Financial Companies (NBFCs).
- The remaining bank group entities must adopt upper-layer norms (excluding listing requirements) by March 31, 2028.
- The guidelines impose a 20% ceiling on a bank group’s shareholding in an Asset Reconstruction Company (ARC).
- There are currently 13 ARCs in which one or more banks hold stakes.
- In all but two of these ARCs, shareholding by any single bank is less than 20%.
- Banks with shareholding exceeding the 20% limit in ARCs will have to partially divest by March 2028.
Reserve Bank of India (RBI) approves re-appointment of Ratan Kumar Kesh as Bandhan Bank executive director.
[Reserve Bank of India (RBI)]
Key Updates:
- The Reserve Bank of India (RBI) approved the re-appointment of Ratan Kumar Kesh as executive director of Bandhan Bank Limited.
- The re-appointment is effective from March 31, 2026, for an additional three-year term.
- Kesh also serves as the chief operating officer and a key managerial personnel of the bank.
- The approval was communicated via an RBI letter dated December 26, 2025.
- The re-appointment is contingent upon the approval of the bank's shareholders and Kesh will remain subject to retirement by rotation.
- Bandhan Bank confirmed that Kesh has no relations with other directors of the bank and is not debarred or disqualified from holding a directorship by any order from the Securities and Exchange Board of India or any other relevant authority.
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- Vikram Sahu has been approved by the Reserve Bank of India (RBI) as the chief executive officer (CEO) of Bank of America NA (BoFA) in India.
- He will assume the charge in addition to his current responsibilities as India country executive.
- He will replace Kaku Nakhate, who served as the bank CEO for about 15 years.
- Nakhate will take over as the India chair with a focus on deepening relationships with key clients of the India franchise.
- Sahu will report to Jin Su, president of Asia Pacific for the US bank.
- Seven Executive Directors have been appointed to the Boards of various Public Sector Banks.
- The Department of Financial Services (DFS) formally notified these appointments.
- The appointed Executive Directors include Amit Kumar Srivastava for Punjab National Bank, E. Ratan Kumar for Central Bank of India, Amresh Prasad for Union Bank of India, Pramod Kumar Dwibedi for Bank of India, Sunil Kumar Chugh for Canara Bank, Mini T M for Indian Bank, and Prabhat Kiran for Bank of Maharashtra.
- The Appointments Committee of the Cabinet (ACC) approved the proposal for these appointments.
- The Financial Services Institutions Bureau (FSIB) conducted the selection process, recommending 11 candidates, from which seven officers received postings.
- CA Usha Janakiraman appointed Executive Director of Reserve Bank of India (RBI) with effect from December 1, 2025.
- Prior to the promotion, Usha Janakiraman served as Chief General Manager-in-Charge, Department of Regulation, Central Office, Mumbai.
- Usha Janakiraman has experience of over three decades in the RBI in areas of regulation, external investment and operations, banking supervision, public debt management, currency management and other areas.
- As Executive Director, Usha Janakiraman will look after the Department of Supervision (Risk, Analytics and Vulnerability Assessment).
- Usha Janakiraman is a Chartered Accountant.
- The Reserve Bank of India has approved the appointment of S Krishnan as part-time chairman of J&K Bank.
- His appointment is effective from November 13, 2025, till March 26, 2028.
- Krishnan previously served as MD & CEO of Punjab & Sind Bank.
- He also held the top position as MD & CEO of Tamilnad Mercantile Bank in September 2022.
- Krishnan is currently an independent director on the board of Srinagar-headquartered bank.
BIS notifies IS 19445:2025 standard for bomb disposal systems to boost security infrastructure
[Bureau of Indian Standards (BIS)]
Key Updates:
- The Bureau of Indian Standards (BIS) has notified IS 19445:2025, a dedicated standard for bomb disposal systems.
- Developed at the request of the Union Ministry of Home Affairs and the Terminal Ballistic Research Laboratory.
- The standard is intended for voluntary adoption by procurement agencies, manufacturers, and testing bodies.
- It establishes comprehensive guidelines for evaluating bomb disposal systems against blast loads and splinter effects.
- The standard specifies requirements for test equipment, test range conditions, and evaluation procedures to objectively assess system effectiveness.
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- Union Home Minister Amit Shah launched the 'Lost, Looted and Recovered Firearm' database prepared by the National Investigation Agency (NIA) under the Ministry of Home Affairs (MHA).
- The database will centrally record government-owned weapons that are looted, stolen, lost, or recovered from state police forces and Central Armed Police Forces (CAPFs).
- It will be accessible to all state police forces, paramilitary units, and law enforcement agencies for tracing weapon origin, movement, and recovery patterns.
- India is establishing the Bureau of Port Security (BoPS) to bolster maritime safety, mirroring aviation security models.
- The new body, modelled on the lines of the Bureau of Civil Aviation Security (BCAS), will be constituted as a statutory body under the new Merchant Shipping Act, 2025, and will work under the aegis of the Ministry of Ports, Shipping and Waterways (MoPSW).
- Headed by a senior IPS officer as its director general, the BoPS will be responsible for regulatory and oversight functions relating to the security of ships and port facilities.
- The BoPS will ensure timely analysis, collection and exchange of security-related information, with a special focus on cybersecurity, including a dedicated division to safeguard port IT infrastructure from digital threats.
- The government has designated the Central Industrial Security Force (CISF) as a recognised security organisation (RSO), responsible for undertaking security assessments and preparation of security plans for port facilities.
- The Central Armed Police Force (CAPF) will train and build the capacities of private security agencies (PSAs) engaged in port security.
- India is moving towards deploying its own home grown integrated air defence system to protect the Delhi National Capital Region from enemy aerial threats like missiles, drones and fast moving aircraft.
- The multilayered Integrated Air Defence Weapon System (IADWS) would be based around the indigenous air defence missiles such as the Quick Reaction Surface to Air Missile systems and Very Short Range Air Defence Systems.
- The Defence Research and Development Organisation (DRDO) would be working with production agencies who will work on the networking and command and control systems required for such a complicated air defence system.
- India had earlier planned to deploy the US-made National Advanced Surface to Air Missile System-II (NASAMS-II) but did not move forward on the deal as the Americans were asking for a very high price.
- The IADWS would be responsible for protecting the vital installations in the national capital region and is the responsibility of the Indian Air Force.
- The Indian Army has signed a contract for the procurement of its first indigenously designed and manufactured Software Defined Radios (SDR).
- These SDRs were developed by Defence Research and Development Organisation (DRDO) and produced by Bharat Electronics Limited (BEL).
- The advanced SDRs are equipped with high data rates and Mobile Ad hoc Network (MANET) capabilities.
- These SDRs will significantly enhance secure, real-time communication and strengthen the Army's operational readiness in information-intensive, network-centric battlefields.
- Defence Research and Development Organisation (DRDO), in collaboration with the Integrated Defence Staff (IDS) and the Tri-Services, had earlier released Indian Radio Software Architecture (IRSA) standard 1.0 to enable interoperability in Military Communication.
- IRSA is a comprehensive software specification for Software Defined Radios (SDRs), defining standardised interfaces, APIs, execution environments, and mechanisms for waveform portability.
- IRSA Version 1.0 was approved by the High-Level Advisory Committee (HLAC) in 2025, becoming India's first national specification defining a standardised software architecture for Software Defined Radios.
Indian Institute of Technology Patna (IIT Patna) commissions Param Rudra supercomputer under National Supercomputing Mission
[Indian Institute of Technology Patna (IIT Patna)]
Key Updates:
- The launch of the Param Rudra supercomputer in IIT Patna marks a significant step in expanding India’s high-performance computing capacity.
- Under the NSM, 37 supercomputers have already been deployed nationwide, delivering a combined computing capacity of around 39 petaflops.
- Param Rudra is an 838-teraflops system using largely indigenous components and runs on an Indian-developed software stack created by C-DAC.
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- India has developed its first indigenous 1.0 GHz, 64-bit dual-core microprocessor, DHRUV64, by C-DAC.
- The semiconductor is developed by the Centre for Development of Advanced Computing (C-DAC) under the Microprocessor Development Programme (MDP).
- DHRUV64 is said to provide a reliable, fully indigenous processor technology capable of supporting both strategic and commercial applications.
- DHRUV64 is built on modern architectural features that are designed to deliver higher efficiency, enhanced multitasking capability and improved reliability across various applications.
- The microprocessor is suitable for 5G infrastructure, automotive systems, consumer electronics, industrial automation and the Internet of Things (IoT).
- DHRUV64 leverages modern fabrication technologies that enables it to easily integrate with a wide range of external hardware systems.
- Microprocessors are essentially “brains” of modern electronic devices such as mobiles, computers, satellites and even defense systems.
- India consumes around 20% of all the microprocessors manufactured globally and the milestone means that India can reduce reliance on foreign suppliers for its use cases.
- SHAKTI (2018, IIT Madras): Focus on strategic, space, and defense applications.
- AJIT (2018, IIT Bombay): Used for industrial and robotics applications.
- VIKRAM (2025, ISRO–SCL): Engineered to withstand extreme space conditions.
- THEJAS64 (2025, C-DAC): Designed for industrial automation.
- C-DAC is already working on the next generation of RISC-V processors: the Dhanush and Dhanush+ SoCs that are expected to further expand the range of indigenous options available for both strategic and commercial use.
- Dr. S. Jaishankar, Minister of External Affairs of India, will deliver a Spotlight Lecture at Shaastra 2026 organised by Indian Institute of Technology Madras (IIT Madras).
- Prof. Jeffrey Ullman, Turing Award recipient, will deliver a Spotlight Lecture at Shaastra 2026 organised by IIT Madras.
- Prof. Subra Suresh, former Director of the US National Science Foundation, will deliver a Spotlight Lecture at Shaastra 2026 organised by IIT Madras.
- Dr. Vidita Vaidya, Shanti Swarup Bhatnagar Prize awardee, will deliver a Spotlight Lecture at Shaastra 2026 organised by IIT Madras.
- The NITI Aayog’s Frontier Tech Hub, in partnership with International Business Machines-IBM, has released a national roadmap to transform India into one of the world’s top-three quantum economies by 2047.
- The plan aims to build home grown quantum computing hardware and software, foster at least 10 globally competitive quantum and capture a major share of the global quantum software and services market.
- It envisages applying quantum technologies across key sectors such as defence, energy, healthcare, logistics, and finance with hopes of boosting security, efficiency, and innovation nationwide.
- The plan for India’s first Quantum City or Q-city was unveiled at the Bengaluru Tech Summit 2025 by Minister for Minor Irrigation, Science and Technology NS Boseraju.
- The Q-city is proposed to be established over 6 acres in Hesarghatta.
- Under the Karnataka Quantum Mission, the government has allocated an investment of Rs 1,000 crore for the Q-city.
- The Q-city will house advanced research laboratories, a quantum hardware park, cryogenic testing facilities, quantum cloud clusters, and a deep tech startup zone, hosting end-to-end services from research to commercialisation.
- The government approved Rs 1,136 crore to establish the Quantum Supremacy Centre in Bengaluru.
- Work is underway to establish the Swiss and Karnataka Quantum Collaboration Centre.
- ISRO Chairman, Dr V Narayanan, stated that two new ISRO launchpads are on the cards — in Sriharikota and Kulasekarapattinam.
- LVM3-M6 and Bluebird Block-2 Mission are the upcoming commercial mission projects of ISRO.
- Fiber optic pressure, temperature, and level sensors and HMC and Nano technology-based sensors are major new developments in progress at ISRO.