NATIONAL UPDATES:
1. PM Modi Lays Foundation Stone for ₹42,000 Crore Mahi
Banswara Atomic Power Project in Rajasthan: PM Narendra Modi laid the foundation stone for
the ₹42,000 crore Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) in
Banswara, Rajasthan, which will be among India’s largest nuclear plants.The
project includes four indigenous 700 MW Pressurised Heavy Water Reactors (IPHWR
700) developed by NPCIL, with advanced safety features under India’s “fleet
mode” initiative.MBRAPP is being developed jointly by Anushakti Vidhyut Nigam
(ASHVINI), NPCIL (51%) and NTPC (49%), combining financial, technological, and
project expertise.The project will provide clean, reliable power, generate
large-scale employment, boost local industries, and contribute to Atmanirbhar
Bharat while fostering economic growth in Rajasthan and India.
2. Tally Solutions Partners with Indian Bank to Enable
Seamless E-Payments for SMEs via TallyPrime: Tally Solutions has partnered with
Indian Bank to integrate e-payment capabilities into the bank’s IND
Cash Optima platform for businesses using TallyPrime.The integration allows
users to initiate and manage payments directly from TallyPrime, automatically
importing payment references like UTR numbers and updating transaction status
for error-free reconciliation.The collaboration is expected to benefit SMEs and
MSMEs by combining accounting and banking functions, enabling digital financial
operations on a single cohesive platform.Executives from Tally and Indian Bank
highlighted that the partnership will save time on payments and reconciliation,
improve accuracy, convenience, and drive digital adoption among MSMEs.
3. Union Home Ministry Cancels FCRA Registration of Sonam
Wangchuk’s SECMOL Amid Ladakh Unrest: The Union Home Ministry
cancelled the FCRA registration of SECMOL, an organisation
founded by Ladakh-based climate activist Sonam Wangchuk, citing multiple
alleged violations of the Act.The move follows unrest in Leh, Ladakh, during
protests for Statehood and tribal status, with the Ministry alleging that “a
mob guided by Sonam Wangchuk’s provocative statements” contributed to the
violence.Specific violations included ₹3.5 lakh from the sale of an old bus
misclassified as foreign donation, inadvertent deposits of local funds,
acceptance of foreign contributions for sensitive studies, and poor financial
recordkeeping.The CBI is also investigating suspected FCRA violations by
Himalayan Institute of Alternatives Ladakh (HIAL), another institution founded
by Wangchuk, though no formal case has been registered.
4. Kanad Das Appointed as 13th Director of Botanical
Survey of India: Kanad Das took charge as the 13th Director of the Botanical
Survey of India (BSI), becoming the first mycologist to lead the
institute under MoEFCC.He is an expert in fungal taxonomy and has discovered
two new genera and 165 new species of wild mushrooms in India.His research
contributions include 170 papers in reputed journals and eight authoritative
books on wild mushrooms.With over 25 years of experience, Dr. Das began his
career at BSI and has previously headed the Acharya Jagadish Chandra Bose
Indian Botanic Garden and Central National Herbarium.
INTERNATIONAL UPDATES:
1. Amul MD Jayen Mehta Joins IBEF Board as Brand India
Expands Global Footprint: Jayen Mehta, MD of Gujarat Cooperative Milk Marketing Federation
(Amul), has been nominated to the board of the India Brand Equity
Foundation (IBEF), which promotes Brand India globally.Amul has recently
expanded internationally, debuting in the US market and entering Europe in June
2025 through a partnership with Spanish cooperative COVAP, supported by a viral
animated campaign.
2. 29 September – International Day of Awareness on Food
Loss and Waste Reduction: International Day of Awareness on Food Loss and Waste
Reduction is observed on 29 September each year to highlight the
global issue of food loss and waste.The day aims to raise awareness about the
environmental, economic, and social impacts of wasting food and encourages
responsible consumption.It focuses on reducing food loss during production,
storage, and transportation as well as food waste at retail and consumer
levels, aligning with SDG 12.3.
Activities include campaigns, workshops, and
educational initiatives by governments, NGOs, and businesses to promote
sustainable food management and minimize waste.
3. 30 September – International Translation Day: International Translation
Day is observed every year on 30 September to celebrate the work
of translators, interpreters, and language professionals who bridge cultures
and languages worldwide.The date coincides with the feast of St. Jerome, the
patron saint of translators, who is credited with translating the Bible into
Latin (the Vulgate) in the 4th century.
OTHER UPDATES:
DEFENCE
1. Cabinet Approves Rs 69,725 Crore Maritime Package to
Boost Shipbuilding: The Union Cabinet, chaired by PM Narendra Modi, approved a Rs
69,725 crore comprehensive package to boost shipbuilding, maritime financing,
and domestic capacity through a four-pillar strategy covering financing,
infrastructure, technical development, and policy reforms.The spackage extends
the Shipbuilding Financial Assistance Scheme (SBFAS) till 2036 with Rs 24,736
crore, introduces a Shipbreaking Credit Note of Rs 4,001 crore, and sets up a
National Shipbuilding Mission for implementation.A Maritime Development Fund
(Rs 25,000 crore) has been approved, including a Maritime Investment Fund (Rs
20,000 crore, 49% govt participation) and an Interest Incentivization Fund (Rs
5,000 crore) to reduce borrowing costs.The Shipbuilding Development Scheme
(SbDS) with Rs19,989 crore will expand India’s domestic shipbuilding capacity
to 4.5 million Gross Tonnage, promote mega shipbuilding clusters, establish the
India Ship Technology Centre, and is expected to unlock Rs 4.5 lakh crore in
investments and create 30 lakh jobs.
SCIENCE AND TECHNOLOGY
2. Air India Raises $215 Million from Bank of India and
Standard Chartered via GIFT City to Refinance Boeing Aircraft Debt: Air India
raised approximately $215 million from Bank of India and Standard
Chartered Plc through GIFT City to refinance shorter-duration debt
used to acquire six Boeing 777-300ER aircraft.The six-year loan is priced
at around 168 basis points over the secured overnight financing rate, marking a
significant refinancing step for the airline after its recent operational
challenges, including a June plane crash.This deal is the first instance of
Bank of India acting as a mandated lead manager in a loan transaction from GIFT
City, highlighting its growing role in structured financing for major
corporations.
BANKING AND FINANCE
1. Bank of Baroda and IIFL Finance Join Hands in
Co-Lending Partnership to Expand Gold Loans in Rural India: Bank of Baroda and IIFL
Finance have entered into a co-lending partnership to provide gold
loans, mainly targeting unbanked customers in semi-urban and rural India,
focusing on agricultural and allied activities.Under the agreement, IIFL
Finance will originate and service loans, while Bank of Baroda will fund them
with joint underwriting, ensuring affordable and scalable credit delivery in
line with RBI’s co-lending guidelines.The collaboration will operate through a
tech-integrated process with real-time data sharing, co-branded documentation,
and shared servicing responsibilities, aiming to enhance transparency,
efficiency, and financial inclusion.
2. EY Raises India’s FY26 GDP Forecast to 6.7%, Urges
Diversification of Export and Import Markets: EY raised India’s GDP forecast for FY26
to 6.7%, up from 6.5%, citing strong growth in Q1 and GST reforms.The
report highlighted that global headwinds may constrain India’s export
prospects, despite domestic demand stimulation.EY recommended diversifying
India’s export and import markets and noted that GST 2.0 rate rationalisation
will benefit sectors like automobiles, health, and textiles.
3. RBI Orders BNPL Startup Simpl to Halt Payment Operations
Over PSS Act Violations: The Reserve Bank of India (RBI) has
ordered Bengaluru-based BNPL startup Simpl to immediately halt
all payment operations for operating without authorisation under the
Payments and Settlement Systems (PSS) Act, 2007.Simpl was functioning as a
payment system operator without the mandatory Certificate of Authorisation,
violating the provisions of the PSS Act.
This action follows the Enforcement Directorate’s
(ED) proceedings against Simpl and its co-founder Nitya Sharma over alleged
foreign exchange irregularities worth ₹914 crore under FEMA regulations.Simpl,
officially registered as One Sigma Technologies Pvt Ltd, is a leading BNPL
fintech working with over 26,000 merchants including Zomato, BigBasket, and Rapido,
but is now under regulatory and legal scrutiny.
AWARDS AND HONOURS
1. Sanskrit Scholar Mahamahopadhyay Bhadreshdas Swami Conferred Saraswati Samman 2024 for Swaminarayan Siddhant Sudha: Mahamahopadhyay Bhadreshdas Swami, a renowned Sanskrit scholar and Vedanta philosopher of BAPS, was awarded the Saraswati Samman 2024 by the K.K. Birla Foundation for his work Swaminarayan Siddhant Sudha, presented by Gujarat and Maharashtra Governor Acharya Devvrat at BAPS Swaminarayan Mandir, Ahmedabad.The award includes a citation, plaque, statue of Goddess Saraswati, and ₹15 lakh, which Swami Bhadreshdas dedicated to BAPS for charitable activities.Born in 1966 in Nanded, Maharashtra, Swami Bhadreshdas was initiated as a sadhu in 1981, studied Sanskrit and Hindu philosophy for over three decades, earned a PhD on Bhagavad Gita and a D.Litt. in Vedanta, and authored the monumental 5-volume Swaminarayan Bhashyam.
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