Reserve Bank of India (RBI) launches Mission SAKSHAM for Urban Cooperative Banking sector
[Reserve Bank of India (RBI)]
Key Updates:
- Reserve Bank of India (RBI) Governor Sanjay Malhotra launched Mission SAKSHAM for the capacity-building of the Urban Cooperative Banking (UCB) sector.
- Mission SAKSHAM aims to conduct training programmes for approximately 1.40 lakh participants.
- The target groups for the training include board members, senior management, heads of risk, compliance and audit functions, and employees working in IT functions and other critical areas.
- The RBI shall endeavour to deliver the training content in regional languages to the extent feasible.
- The mission was designed in consultation with the National/State Cooperative Federations and the Umbrella Organisation of UCBs.
- The initiative is expected to enhance managerial and operational capabilities, improve compliance culture, and strengthen institutional resilience across UCBs.
Similar Coverage
- National Cooperative Development Corporation (NCDC) launched the Dirghavadhi Krishak Punji Sahakar Yojana under the Ministry of Cooperation.
- The scheme provides long-term financial assistance to cooperatives engaged in agriculture and allied sectors.
- Eligible cooperatives must have minimum 3 years of operational history, positive net worth, no erosion in paid-up share capital, no cash losses in the last three years, and recorded net profit in at least two of the last three years.
- Loans are sanctioned against adequate security after appraisal of financial health, operational performance and creditworthiness.
- Recovery in case of default involves recall notice, action under Negotiable Instruments Act 1881 Section 138, proceedings under SARFAESI Act 2002 Sections 13(2) and 13(4), and cases filed in Debt Recovery Tribunal under Recovery of Debts and Bankruptcy Act 1993.
- National Cooperative Development Corporation (NCDC) implements fully-funded Yuva Sahakar and Swayamshakti Sahakar schemes under Ministry of Cooperation.
- Yuva Sahakar offers start-up cooperatives of young entrepreneurs term credit up to five years with 2% interest subvention.
- NCDC has approved Rs 4,734.97 lakh under Yuva Sahakar benefitting 18,915 members by end-2024.
- Swayamshakti Sahakar Yojana provides low-cost bank credit to women-only Self-Help Groups for collective enterprises.
- Reserve Bank of India (RBI) cancelled the licence of The Shirpur Merchants' Co-operative Bank due to inadequate capital and earning prospects.
- The bank ceases all banking operations from the close of business on 6 April 2026.
- The Commissioner for Cooperation, Registrar of Cooperative Societies, Maharashtra has been requested to order winding up and appoint a liquidator.
- Depositors will receive up to Rs 5 lakh per account from Deposit Insurance and Credit Guarantee Corporation (DICGC).
- As per bank data, 99.7% of depositors are eligible to receive the full amount of their deposits from DICGC.
- As on 31 January 2026, DICGC has already paid Rs 48.95 crore of total insured deposits based on depositors' willingness.
- The Reserve Bank of India (RBI), in consultation with the Government of India, has announced that loans sanctioned by banks to the National Cooperative Development Corporation (NCDC) for on-lending to cooperative societies are eligible for Priority Sector Lending (PSL) classification.
- This eligibility is applicable for loans sanctioned with effect from 19 January 2026.
- The classification applies to banks other than Regional Rural Banks (RRBs), Urban Cooperative Banks (UCBs), Small Finance Banks (SFBs), and Local Area Banks (LABs).
- These loans must be for purposes and activities as laid down in the Master Direction on Priority Sector Lending, 2025.
- The measure aims to strengthen the financial health, governance, and digital inclusion of cooperative banks while enhancing deposit security and credit availability.
Basmati and Organic Training Centre: ₹15 Crore Project in Pilibhit
[Agricultural and Processed Food Products Export Development Authority (India)]
Key Updates:
- The Agriculture and Processed Food Products Export Development Authority (APEDA) is establishing a basmati and organic training centre and demonstration farm in Tanda Bijesi village, Pilibhit.
- The project has an estimated cost of ₹15 crore and involves the transfer of 7 acres of land.
- The facility, known as the Basmati Export Development Foundation (BEDF) centre, is the second such centre in Uttar Pradesh after Meerut.
- The centre will feature an AI-based satellite survey to map basmati cultivation areas, identify varieties, and generate data for export estimates.
- The facility will include a seed unit, an auditorium, a museum of 45 notified basmati varieties, and a National Accreditation Board for Testing and Calibration Laboratories (NABL)-accredited lab.
- The NABL-accredited lab will be used to test for DNA, pesticide residues, and heavy metals.
- The BEDF aims to train over 50,000 farmers across seven basmati-producing states by the end of 2025–26.
- The centre will cater to farmers from Uttar Pradesh and neighbouring states, including Uttarakhand and Delhi.
- Construction of the project will be carried out by the Public Works Department (PWD) and is expected to be completed within a year.
Similar Coverage
- The 40th edition of AAHAR – The International Food & Hospitality Fair was inaugurated on 11 March 2026 at Bharat Mandapam, New Delhi.
- Italy is the partner country for the 40th edition, marking the first time the fair has featured a partner country.
- The event is organised by the India Trade Promotion Organisation (ITPO) and spans an area of 125,000 square metres.
- The fair features 1,800 participants, including 155 international participants from 17 countries.
- Union Minister of Commerce & Industry Shri Piyush Goyal noted that India is the seventh largest exporter of agricultural produce globally.
- India’s annual food and agricultural exports have reached nearly ₹5 lakh crore, exceeding USD 55 billion.
- The official AAHAR digital app was introduced to facilitate QR-enabled interactions, B2B networking, and hall navigation.
- The Directorate General of Foreign Trade (DGFT) and the Ministry of Commerce & Industry will provide support to exporters under the Export Promotion Mission.
- India has concluded nine Free Trade Agreements (FTAs) over the past three and a half years, providing preferential market access to 38 countries.
- The Department of Posts (DoP) signed a strategic Memorandum of Understanding (MoU) with the Tribal Cooperative Marketing Development Federation of India (TRIFED) to create a nationwide logistics backbone for tribal e-commerce.
- The partnership leverages the DoP network of over 1.5 lakh post offices, with more than 90% located in rural areas, to deliver goods sold via the Tribes India e-marketplace.
- The DoP will provide end-to-end logistics solutions including order pickup from TRIFED regional hubs, nationwide transmission, and final delivery to urban, rural, and remote areas.
- Technological features of the collaboration include real-time shipment tracking, API-based integration for automated order processing, and Management Information System (MIS) reporting.
- A Book Now Pay Later (BNPL) account will be established for TRIFED under the National Account Facility of the DoP to enable deferred payments for bulk shipments and simplified accounting.
- The initiative aims to benefit over 10 lakh tribal artisans and forest produce gatherers by expanding market access for indigenous handicrafts, handlooms, and natural products.
- The MoU is initially valid for a period of two years and includes provisions for review and potential expansion to other rural and artisan-based sectors.
- The collaboration aligns with national visions including Digital India, Aatmanirbhar Bharat, and the Vocal for Local initiative.
- Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh launched the BIRAC-BioNEST Incubation Centre on the CSIR-Central Food Technological Research Institute (CFTRI) campus.
- The Biotechnology Industry Research Assistance Council (BIRAC) supported the initiative under the Department of Biotechnology, Government of India.
- The facility nurtures entrepreneurial talent in food bioprocessing and biotechnology research and supports advanced research, scale-up, and efficacy studies.
- CSIR-CFTRI’s incubation ecosystem has supported 26 start-ups, including 12 physical incubatees, 11 hybrid incubatees, and three graduated ventures.
- Incubated companies have filed 12 patents so far and operate in domains such as CRISPR technology, nutraceuticals, precision fermentation, probiotics and postbiotics, and botanicals.
- The Indian Army has shown interest in the incubated innovations during high-profile visits in 2025 and 2026.
- A hostel facility for farmers, FPOs, SHGs, cluster representatives, and other training participants will be built under the Rashtriya Krishi Vikas Yojana (RKVY) and will include a 50-seat classroom, twin-sharing accommodation, kitchen, dining, and other amenities.
- The Minister performed the bhoomi puja for the hostel facility on the M.G. Halli campus during his visit.
- CSIR-CFTRI conducts nearly 30-35 training programmes every year and the hostel is expected to be ready in a year to strengthen skill development initiatives aligned with the government’s ‘Skill India’ programme in food processing.
- Union Minister for Food Processing Industries (MoFPI) Chirag Paswan inaugurated a Common Incubation Centre at Tezpur University in the Sonitpur district of Assam on 13 March 2026.
- The facility was established with a total outlay of ₹2.35 crore, funded through 100% financial assistance from the MoFPI.
- The centre is launched under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme, which operates under the Aatmanirbhar Bharat Abhiyan.
- The project aims to support micro food processing enterprises, Self-Help Groups (SHGs), Farmer Producer Organisations (FPOs), cooperatives, and start-ups.
- The incubation hub includes seven specialised processing lines for fruits, grains, spices, bakery products, confectionery, packaging, and quality testing.
- The facility is designed to serve entrepreneurs in the Assam districts of Sonitpur, Darrang, Udalguri, Biswanath, Nagaon, and Golaghat.
- According to the MoFPI, more than 1.87 lakh micro food processing enterprises have received loan approvals nationwide under the PMFME Scheme.
National Medical Commission (NMC) removes cap on MBBS seats and eases population norms
[National Medical Commission (NMC)]
Key Updates:
- The National Medical Commission (NMC) issued a gazette notification on April 27 to amend 2023 regulations governing new medical colleges and expansion of existing courses.
- The NMC removed the clause that capped the total number of MBBS seats at 150 per college for institutions seeking expansion from the 2024–25 academic year.
- The requirement for states to maintain a ratio of 100 MBBS seats per 10 lakh population has been removed.
- The maximum distance between a medical college and its teaching hospital is now prescribed as 10 km, replacing the previous 30-minute travel-time cap.
- For Himalayan and northeastern states, the maximum distance between a medical college and its teaching hospital has been relaxed to 15 km.
- The amendments were notified under the NMC Act, 2019, and apply to the Graduate Medical Education Regulations, 2023, and the Undergraduate Medical Education Board’s seat expansion guidelines.
Similar Coverage
- The Ministry of Corporate Affairs (MCA) is piloting the Prime Minister Internship Scheme (PMIS).
- Eligibility for the PMIS pilot phase has been expanded to include final-year students in graduate and postgraduate programmes.
- Eligible students must be between 18-25 years of age to apply for paid internships in top companies through the PMIS portal.
- Interns under the PMIS will receive a minimum financial assistance of ₹9,000 per month.
- Applicants are required to submit a No Objection Certificate (NOC) from their respective educational institutions.
- The MCA formalised these changes in consultation with the Department of Higher Education, Ministry of Education.
- The scheme supports the goals of the National Education Policy (NEP) regarding experiential learning, student employability, and skill development.
- The third round of the PMIS pilot phase is currently underway.
- The Nashik Municipal Corporation (NMC) listed its green bonds on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Monday, receiving an oversubscription of 5.24 times.
- The NMC aims to raise ₹200 crore to fund key water supply projects linked to the Mukane dam.
- The NMC has become the first municipal corporation in India to complete both public and private bond issuances within a single financial year.
- The bond proceeds will finance the expansion of the Mukane water supply scheme, including a water treatment plant at Nilgiri Bag in the Panchavati division and a gravity-based main water distribution pipeline from Vilholi to Sadhugram in Tapovan.
- The initiatives are expected to reduce the non-revenue water of the city from 47% to 20%.
- The NMC will pay ₹104 crore in interest over the next decade but will receive ₹96 crore from the Centre's urban challenge funds, ₹20 crore in incentives for green bonds, and ₹50 crore in accumulated escrow account interest.
- Chief Minister Devendra Fadnavis directed the Maharashtra Institution for Transformation (MITRA) to identify projects for smaller municipal corporations to collectively raise ₹1,000 crore through similar bonds.
- Maharashtra State Road Transport Corporation (MSRTC) launched the NCMC smart card for digital ticketing and concession access.
- The launch was inaugurated by Chief Minister Devendra Fadnavis in the presence of Deputy Chief Ministers Eknath Shinde and Sunetra Pawar.
- NCMC smart cards linked to Aadhaar will be issued to students, senior citizens, divyang persons with disabilities, women, and other concession holders.
- Registration and distribution of the cards will be carried out at all depots and bus stations across Maharashtra, with around 3,000 authorised centres facilitating the process.
- Passengers can use the cards for wallet-based payments, with a minimum top-up of Rs 100.
- Recharge options will be available through ETIM machines on buses, the official website, mobile app, and authorised agents.
- The cost of the NCMC smart card has been fixed at Rs 199.
- Department of Economic Affairs (DEA) notified amendments to Securities Contracts (Regulation) Rules, 1957 on 13 March.
- Minimum mandated public shareholding of a listed stock reduced from 5% to 2.5%.
- Companies with post-issue capital ≤ ₹1,600 crore must offer at least 25% of each class of equity shares or debentures to the public.
- Companies with post-issue capital > ₹1,600 crore but ≤ ₹4,000 crore must offer at least a percentage equivalent to ₹400 crore.
- Companies with post-listing valuation > ₹4,000 crore but ≤ ₹50,000 crore must offer at least 10% of each share or debenture, subject to increasing public shareholding to at least 25% within three years.
- Companies with post-listing valuation > ₹50,000 crore but < ₹1 lakh crore must offer at least ₹1,000 crore and at least 8% of each share or debenture, subject to increasing public shareholding to at least 25% within three years.
- Companies with post-listing valuation > ₹1 lakh crore but ≤ ₹5 lakh crore must offer at least 2.75% of each share or debenture, subject to achieving specified timelines.
- Companies with post-listing valuation > ₹5 lakh crore must offer at least 1% of each share or debenture if public shareholding at listing is <15%, increasing to at least 15% within five years and 25% within ten years.
- Amendment clears the way for Reliance-owned Jio Platform and National Stock Exchange IPOs.
FSSAI Draft Notification: Ban on Plastic and Metallised Layers in Pan Masala Packaging
[Food Safety and Standards Authority of India (FSSAI)]
Key Updates:
- The Food Safety and Standards Authority of India (FSSAI) has issued a draft notification proposing that pan masala packaging should not use plastic material or metal layers.
- The proposed regulation prohibits the use of plastic material, aluminium foil, or metallised layers for storing, packing, or selling gutkha, tobacco, and pan masala.
- Permitted packaging materials include paper, cardboard, cellulose-based materials, tin, or glass containers.
- The notification specifically bans the use of polythene, polypropylene, polyester, PVC, synthetic polymers, copolymers, or laminates.
- This draft amendment is aligned with the government Plastic Waste Management Rules.
- Stakeholders have been asked to submit their comments on the draft notification within 30 days.
Similar Coverage
- Food Safety and Standards Authority of India (FSSAI) stated that its registration certificates and licences will now have perpetual validity and will not require renewal.
- The Ministry of Health and Family Welfare approved the perpetual validity reform effective from the date of the FSSAI announcement.
- The turnover threshold for registration has been increased from ₹12 lakh to ₹1.5 crore effective 10 March.
- State licensing will apply up to ₹50 crore turnover and Central licensing beyond this limit, effective 1 April 2026.
- Street food vendors registered with Municipal Corporations or Town Vending Committees under the Street Vendors Act 2014 will be deemed registered with FSSAI.
- The deemed registration is expected to benefit more than 10 lakh street food vendors by removing the need for multiple registrations.
- The Ministry of Consumer Affairs, Food & Public Distribution expanded procurement operations under the PM-AASHA scheme in Chhattisgarh and launched the first structured pulse procurement in Bihar under the Atmanirbhar Pulses Mission.
- The procurement drive is led by the National Cooperative Consumers' Federation of India Ltd. (NCCF) and the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).
- In Bihar, NCCF initiated organised procurement of masoor (lentil) supported by Warehousing Development and Regulatory Authority (WDRA)-approved warehouses in collaboration with the Central Warehousing Corporation (CWC).
- Bihar has a procurement target of 32,000 tonnes of masoor, with 100.4 metric tonnes procured as of 22 April 2026.
- In Chhattisgarh, PM-AASHA procurement uses the E-Samyukti portal for digitised farmer participation.
- Chhattisgarh has 85 Primary Agricultural Credit Societies (PACS) centres operational in Dhamtari, Durg, Balod, Balodabazar, Raipur, Raigarh, and Sarangarh, with planned expansion in Sarguja, Kondagaon, and Koriya.
- NCCF set procurement targets in Chhattisgarh for 63,325 MT of chana and 5,360 MT of masoor.
- As of 22 April 2026, NCCF achieved procurement of 9,032 MT of chana and 7.98 MT of masoor in Chhattisgarh.
- NAFED established 137 procurement centres through State Level Agencies in Chhattisgarh, alongside 7 direct centres for chana and 3 for masoor.
- As of 22 April 2026, NAFED procured 3,850 MT of chana and 109 MT of masoor in Chhattisgarh.
- Tata Consumer Products Limited (TCPL) formalised the transfer of indigenously developed food and nutrition-focused technologies from Council of Scientific & Industrial Research - National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) on 19 February 2026 in Bangalore, Karnataka.
- CSIR-NIIST's advanced formulation technology for nutritionally enhanced 'Smarter Rice' delivers higher protein content, lower glycaemic index, and improved micronutrient availability.
- CSIR-NIIST's indigenous coffee crema technology enhances crema stability and improves the sensory experience of brewed coffee.
- Tata Consumer Products and CSIR-NIIST will jointly undertake sponsored research to develop low-sodium salt formulations that enable sodium reduction without compromising flavour.
- Tata Consumer Products has a consolidated annual turnover of Rs. 17,618 Crs and reaches over 275 million households in India.
- The Ministry of Health and Family Welfare (MoHFW) approved comprehensive regulatory reforms aligned with the recommendations of the High-Level Committee on Non-Financial Regulatory Reforms of NITI Aayog.
- The Food Safety and Standards Authority of India (FSSAI) registrations and licences will now have perpetual validity, eliminating the requirement for periodic renewals for Food Business Operators (FBOs).
- With effect from 1st April 2026, the turnover threshold for registration will be increased from ₹12 lakhs to ₹1.5 crore.
- The threshold for State licensing has been set up to ₹50 crores, with Central licensing applicable for businesses exceeding this limit.
- Street food vendors registered under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014, will be considered as deemed registered under FSSAI, benefiting over 10 lakh vendors.
- A technology-enabled, dynamic risk-based inspection framework will be implemented to incentivise compliant businesses and reduce repetitive inspections based on nature of food and past compliance records.
University of Oxford and Serum Institute of India (SII) Partner to Develop R78C Malaria Vaccine
[University of Oxford, Serum Institute of India]
Key Updates:
- The University of Oxford and Serum Institute of India (SII) have signed a licence agreement to develop and manufacture a multi-stage malaria vaccine candidate called R78C.
- The R78C vaccine candidate is based on two Plasmodium falciparum blood-stage antigens, RIPR and CyPRA.
- SII, a Cyrus Poonawalla group company, will support the continued development, large-scale manufacture, and potential future commercialisation of the vaccine.
- The collaboration aims to provide affordable and equitable access to the vaccine for endemic regions and low and middle-income countries.
- SII has entered into a related agreement with ExpreS2ion to access its proprietary ExpreS2 expression platform for the clinical-stage production of R78C and RH5.1 vaccine components.
Similar Coverage
- World Malaria Day 2026 is observed on April 24.
- The theme for World Malaria Day 2026 is “Driven to End Malaria: Now we can. Now we Must”.
- Dr. Regina Rabinovich is the Director of the Malaria Elimination Initiative at ISGLOBAL at the University of Barcelona.
- The Harvard T.H. Chan School of Public Health has launched the Defeating Malaria: From the Genes to the Globe Initiative.
- The World Health Organisation (WHO) has approved artemether-lumefantrine, the first antimalarial formulation designed specifically for newborns and young infants weighing between two and five kilograms.
- World Malaria Day is observed on April 25.
- According to the WHO world malaria report 2025, there were an estimated 282 million cases and 6,10,000 deaths in 2024.
- In 2024, 47 countries were certified malaria-free and 37 countries reported fewer than 1,000 cases.
- India exited the WHO High Burden to High Impact (HBHI) group in 2024, following an 80.5% decline in malaria cases and a 78.38% decline in malaria deaths between 2015 and 2023.
- India has set targets to achieve zero indigenous malaria cases by 2027 and full elimination by 2030.
- On April 14, the WHO prequalified three new rapid diagnostic tests (RDTs) that target the pf-LDH protein to replace HRP2-based tests that fail to detect certain parasite strains.
- The WHO recommends that countries switch to alternative RDTs when more than 5% of cases are missed due to pf-hrp2 deletions.
- The 2026 World Malaria Day campaign is titled Driven to End Malaria: Now We Can. Now We Must.
- Since 2000, an estimated 2.3 billion malaria infections have been prevented and 14 million lives saved worldwide.
- Twenty-five countries are currently rolling out malaria vaccines, and next-generation mosquito nets account for 84% of all new nets distributed.
- Bangladesh launched an emergency measles-rubella vaccination campaign on 5 April 2026.
- The campaign targets over 1.2 million children in 30 upazilas.
- Partners include UNICEF, WHO and Gavi, the Vaccine Alliance.
- Expansion to four City Corporations starts 12 April 2026, followed by nationwide rollout from 3 May 2026.
- Children aged 6 to 59 months in high-risk areas are prioritised.
- Since 2007, Gavi has invested more than US$2.2 billion in measles and measles-rubella immunisation across 57 lower-income countries, reaching over 1.3 billion children.
- International Malaria Conference (IMC) 6 organised by ICMR–National Institute of Malaria Research (NIMR) concluded in New Delhi on 9 March 2026 after three days of scientific discussions.
- Conference theme was 'Discovery, Development and Delivery: Driving Malaria Elimination and Beyond'.
- Dr Anup Anvikar, Director of ICMR–NIMR, delivered the welcome address.
- Dr Tanu Jain, Director of National Centre for Vector Borne Diseases Control (NCVBDC), attended as a dignitary.
- Discovery sessions covered parasite biology, malaria transmission dynamics, and molecular mechanisms linked to drug resistance.
- Development sessions highlighted next-generation malaria diagnostics, advanced surveillance technologies, and research tools for early detection.
- Delivery sessions focused on translating research into public health solutions, addressing residual transmission, advancing vaccine research, and strengthening community-based control programmes.
- Turbo talks and poster sessions provided a platform for early-career researchers to present work and interact with global experts.
Oil and Natural Gas Corporation Ltd (ONGC) appoints CFO and approves petrochemicals joint venture
[Oil and Natural Gas Corporation (ONGC), Mangalore Refinery and Petrochemicals Limited (MRPL), ONGC Petro additions Limited (OPaL)]
Key Updates:
- Oil and Natural Gas Corporation Ltd (ONGC) appointed Yogish Nayak S as Chief Financial Officer (CFO) effective from May 1, 2026.
- ONGC approved the formation of a joint venture (JV) for integrated petrochemicals marketing and trading with Mangalore Refinery and Petrochemicals Ltd (MRPL) and ONGC Petro additions Ltd (OPaL).
- The JV will have a shareholding structure of 50:25:25 between ONGC, MRPL, and OPaL, respectively.
- ONGC will contribute ₹25 crore towards equity share capital for the JV, subject to approval from the Department of Investment and Public Asset Management (DIPAM).
- ONGC approved an equity investment of up to ₹79.48 crore and a corporate guarantee of up to ₹185.45 crore for Indradhanush Gas Grid Ltd.
- The funding for Indradhanush Gas Grid Ltd is for the Duliajan feeder line project, which is part of the North East Gas Grid initiative.
Similar Coverage
- Reliance Industries Limited (RIL) has signed a binding 15-year Supply and Purchase Agreement to supply green ammonia to Samsung C&T Corporation starting second half FY2029.
- The contract is valued at more than $3 billion and is among the largest binding long-term green ammonia offtake agreements globally.
- The deal supports India’s National Green Hydrogen Mission and positions India as a major exporter of green fuels through a domestic clean-energy value chain.
- RIL is developing an integrated new energy platform covering renewable power generation, energy storage, green hydrogen production, and downstream green fuels and chemicals.
- RIL’s initiative includes domestic manufacturing of solar modules, battery energy storage systems (BESS), and electrolyser systems.
- Mazagon Dock Shipbuilders Ltd (MDL) signed a $39 million shipbuilding contract with Shipping Corporation of India Ltd (SCI) on 18 March for a 3,000 Deadweight Tonnage (DWT) methanol dual-fuel platform supply vessel.
- SCI reduced the order to one vessel from the original plan of two firm and two optional platform supply vessels due to high costs quoted by Indian yards.
- The methanol-powered dual-fuel platform supply vessel is funded under India’s National Green Hydrogen Mission.
- SCI selected high-pressure injection technology for the dual-fuel engine to lower pilot fuel percentage despite higher capital expenditure.
- Indian Oil Corporation Ltd (IOCL) signed a letter of intent with Akasa Air at Wings India 2026 in Hyderabad to explore future sustainable aviation fuel (SAF) supply.
- The agreement sets a framework to assess SAF volumes, feedstocks and logistics without committing to firm timelines or quantities.
- IOCL and Akasa Air will evaluate feasibility of SAF supply to support the airline’s sustainability targets.
- SAF is used as a lower-emission alternative to conventional jet fuel to reduce lifecycle greenhouse gas emissions from air travel.
- JSW Steel Ltd and POSCO Group have formed a 50:50 joint venture (JV) to establish a greenfield 6 million tonnes per annum (mtpa) integrated steel plant in Odisha.
- The JV will be operated through Saffron Resources Pvt Ltd, a wholly owned subsidiary of JSW Steel.
- The project is located in the Keonjhar district of Odisha, involving 2,445 acres of land across 12 villages under Patna tehsil.
- The total investment for the plant is ₹35,000 crore, with an estimated employment potential of around 8,000 direct and indirect jobs.
- POSCO Group will subscribe to shares of Saffron Resources Pvt Ltd for approximately ₹508.8 crore, with the transaction expected to be completed by December 31, 2026.
- JSW Steel currently has a crude steel production capacity of 35.7 mtpa, including 34.2 mtpa in India and 1.5 mtpa in the United States, with a target of 50 mtpa in India by FY31.
- POSCO Group, headquartered in Pohang, South Korea, has a steelmaking capacity of around 45 mtpa.