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National news
Piyush Goyal Launches PRABHAAV Factbook and Startup Challenge

The 9th Foundation Day of Startup India, celebrated in New Delhi, marked a significant milestone in India’s journey toward becoming a global leader in innovation and entrepreneurship. Union Minister of Commerce & Industry, Shri Piyush Goyal, launched key initiatives, including the PRABHAAV Factbook and the Bharat Startup Challenge, while emphasizing the transformative role of startups in shaping India’s economic and social landscape. The event highlighted India’s achievements in fostering a thriving startup ecosystem, empowering women entrepreneurs, and supporting Tier II and Tier III city startups.
Key Initiatives
PRABHAAV Factbook:
- Comprehensive documentation of India’s startup ecosystem (2016-2024).
- Highlights regional contributions and growth trajectories.
Bharat Startup Challenge:
- Features 75 challenges in sectors like renewable energy, blockchain, agritech, and semiconductors.
- Offers procurement opportunities, cash prizes, mentorship, and networking.
Startup Ecosystem Achievements
- India became the world’s 3rd largest startup ecosystem with 1,59,157 startups (as of January 2025) from just 500 in 2016.
- 76 IPOs launched in 2024.
- Generated 17.2 lakh direct jobs.
- Role of Funding Instruments
- Fund of Funds for Startups (FFS), administered by SIDBI, mobilized private capital in Tier II and III cities.
- Total startup funding of ₹13 trillion from the government.
Private Equity and Venture Capital
- Partnerships with PE/VC firms accelerated startups’ growth and provided global networks.
- Focus on Women Entrepreneurs
- 43% of India’s STEM graduates are women.
- Women Entrepreneurship Platform supports women-led startups.
Upcoming Events
Startup Mahakumbh (April 2025):
- Features 2,500 startups.
- Showcases India’s entrepreneurial talent globally.
Broader Contribution: Startups are addressing sustainability, healthcare, renewable energy, and digital transformation challenges.
Future Vision: Entering Amrit Kaal, startups are key to a self-reliant, inclusive, and globally competitive India.
PM Modi Inaugurates Bharat Mobility Global Expo 2025

On January 17, 2025, Prime Minister Narendra Modi inaugurated the Bharat Mobility Global Expo 2025 at 10:30 AM at Bharat Mandapam, New Delhi. This event, recognized as India’s largest mobility expo, aims to consolidate the entire mobility value chain under one umbrella.
Event Features
Global Participation: Over 1,500 exhibitors and 500,000 visitors expected.
Exhibitions:
- Prominent vehicle manufacturers like Maruti Suzuki, Hyundai, Tata Motors, and Mahindra & Mahindra showcasing new models and innovations.
- Focus on sustainable mobility solutions such as electric, hybrid, CNG, and biofuel-powered vehicles.
- Participation from leading EV manufacturers, including Ather Energy, Ola Electric, Vayve Mobility, and Vietnam’s Vinfast.
Conferences and Pavilions:
- Over 20 conferences to discuss mobility advancements.
- Dedicated pavilions for state policies and initiatives, encouraging collaboration with local governments.
Historical Context and Growth
- Expanded significantly from its inaugural edition in 2024.
- Aims to position India as a global hub for mobility innovation, reflecting the nation’s commitment to sustainable development.
- Aligns with Prime Minister Modi’s vision for a connected and integrated world through collaboration and engineering excellence.
Maha Kumbh 2025: World’s First Mahamrityunjaya Yantra Installed in Prayagraj

The world’s first Mahamrityunjaya Yantra, measuring 52 feet in length, width, and height, has been installed at Tapovan Ashram in Jhunsi Havelis, Prayagraj—known as the sacred land of Maha Kumbh. This monumental Yantra is a spiritual marvel, believed to connect devotees to the higher consciousness of Lord Shiva.
Spiritual Significance
- Known as the “Victory over Death” Yantra, it helps overcome:
- Fear of death, disease, and danger.
- Stress, depression, and negativity.
Acts as a divine connector to Lord Shiva’s higher energy, fostering courage and positivity.
Creation and Cost
- Built over 52 days at a cost of ₹4 crore.
- Represents a perfect square design, reflecting balance and cosmic harmony.
Mantra Chanting and Rudraksha Consecration
151 Acharyas chanting the Mahamrityunjaya Mantra since Makar Sankranti (January 14, 2025).
- Objective: Consecration of 11,11,111 Panchmukhi Rudrakshas for free distribution to devotees.
- Devotees can register at the ashram to receive a consecrated Rudraksha.
- Symbolism and Scientific Connection
52 Letters in the Mahamrityunjaya Mantra:
- Represent 52 energy centers in the body and the country.
- Align with 52 Hindi alphabets and sounds, emphasizing the core of Sanatan Dharma.
Scientific Structure of the Yantra:
- Mimics the spinal column, symbolizing energy flow and cosmic connectivity.
- Awakens divine powers through mantra chanting and meditation.
- Creates a positive energy field, benefiting everyone in its vicinity.
Visionary Leadership
- Swami Sahajanand Maharaj, the initiator, highlighted its scientific design and transformative potential.
- Aims to blend spirituality and science for holistic well-being and environmental harmony.
Uttar Pradesh:
- Capital: Lucknow (Executive Branch)
- Chief minister: Yogi Adityanath
- Governor: Anandiben Patel
Archaeological Experiential Museum Launched in Vadnagar

On a historic day, the Union Ministry of Culture and the Gujarat State Government unveiled a state-of-the-art Archaeological Experiential Museum in Vadnagar. The inauguration ceremony was presided over by Union Home Minister Shri Amit Shah and attended by Gujarat Chief Minister Shri Bhupendrabhai Patel, Union Minister of Education Shri Dharmendra Pradhan, along with other senior officials. This landmark project showcases the rich cultural and historical heritage of Vadnagar, a town with a history spanning over 2,500 years.
- Inaugurated by: Union Minister Amit Shah, Gujarat Chief Minister Bhupendrabhai Patel, and Union Minister Dharmendra Pradhan.
- Location: Vadnagar, Gujarat, a historically significant town with a 2,500-year-old heritage.
- Purpose: To preserve and showcase Vadnagar’s cultural and historical richness.
Museum Overview
Design and Scale:
- A state-of-the-art facility covering 12,500 sq. m. with nine thematic galleries.
- Features a 4,000 sq. m. excavation site with visible archaeological remains up to 16-18 meters deep.
- Investment: ₹298 crore, including five years of operational maintenance.
Museum Structures
- Main Museum Building: Houses artifacts and interactive exhibits.
- 50-meter Connecting Bridge: Links the museum to the excavation site for easy visitor access.
- Permanent Structure over Excavation Site: Protects the excavation area and ensures visitor safety while offering informative views.
Exhibits and Collections
- Over 5,000 artifacts, showcasing Vadnagar’s historical evolution, including:
- Ceramic assemblages, coins, ornaments, weapons, tools, and sculptures.
- Organic materials like food grains, DNA samples, and skeletal remains.
Technology Integration: Combines physical exhibits with immersive digital experiences for an engaging visitor journey.
Significance of Vadnagar
- Historical Importance: Known for its role as a strategic hub on ancient trade routes.
- Cultural Diversity: Reflects centuries of religious and architectural diversity through its artifacts and structures.
Gujarat:
- Capital: Gandhinagar
- Chief minister: Bhupendra Patel
- Governor: Acharya Devvrat
International news
NPCI International Expands UPI Acceptance in UAE

NPCI International partners with Magnati to Expand UPI Acceptance in UAE NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has partnered with Magnati, a leading payment solutions provider in the Middle East, to provide the feature of QR (Quick Response) based Unified Payments Interface (UPI) merchant payments via Magnati’s Point-Of-Sale (POS) terminals in the United Arab Emirates (UAE).
Key Highlights
- Partnership: NPCI International Payments Limited (NIPL), the global arm of NPCI, partnered with Magnati, a leading payment solutions provider in the Middle East.
- Objective: To enable QR-based Unified Payments Interface (UPI) payments via Magnati’s Point-of-Sale (POS) terminals in the UAE, enhancing payment convenience for Indian travelers.
Target Audience: Over 12 million Indians visiting Dubai and the UAE annually.
Implementation
- Initial Rollout: UPI acceptance will begin at Dubai Duty-Free, streamlining the shopping experience for Indian tourists.
- Expansion: The service will extend to merchants in retail, hospitality, transport, supermarkets, and other key categories.
Global Reach: UPI payments are now accepted in seven countries: Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, France, and the UAE.
NPCI:
- Founded: 19 December 2008
- Headquarters: Mumbai
- Founders: Reserve Bank of India, Indian Banks’ Association
- Head: Dilip Asbe
Economy news
FICCI Revises India’s Economic Projections for FY 2024-25

The Federation of Indian Chambers of Commerce and Industry (FICCI) has adjusted its economic forecasts for India, projecting a GDP growth rate of 6.4% and a Consumer Price Index (CPI)-based inflation rate of 4.8% for the fiscal year 2024-25. This revision reflects a cautious outlook amid global uncertainties and domestic challenges.
GDP Growth Projection
Revised Forecast: GDP growth downgraded to 6.4% from 7.0% (September 2024 projection).
Comparison:
- FY 2023-24: 8.2% growth.
- FY 2024-25: Moderation due to global uncertainties and domestic challenges.
Sectoral Growth Expectations:
- Agriculture: Growth at 3.6%, expected to boost rural consumption in H1 FY 2024-25.
- Industry: Projected growth of 6.3%, with improvement in H2 driven by public capital expenditure and festive demand.
- Services: Growth forecasted at 7.3%, benefiting from normalization post-monsoon.
Inflation Outlook
CPI-Based Inflation:
- Projected at 4.8%, in line with RBI’s expectations.
- Easing inflation is expected to alleviate household strain, especially on food prices.
Investment and Consumption Dynamics
- Government Investment: Infrastructure, housing, and logistics sectors expected to drive growth.
- Private Capital Expenditure: Anticipated to remain subdued due to geopolitical and domestic demand uncertainties.
Consumer Spending:
- Likely to gain momentum, supported by:
- Improved agricultural sector performance.
- Potential monetary easing by RBI, reducing interest rates.
FICCI:
- Founded: 1927
- Headquarters: New Delhi
- Head: Harsha Vardhan Agarwal
Banking news
RBI Reshuffles Portfolios: M Rajeshwar Rao to Head Monetary Policy Department

RBI Assigns Deputy Governor M Rajeshwar Rao to head monetary policy The Reserve Bank of India (RBI) has redesigned portfolios of its deputy governors as the 5- year term with two one-year extended tenure of Dr. Michael Debabrata Patra ended on 14th January 2025. The central bank has reshuffled its 33 departments among the three deputy governors Rajeshwar Rao, T Rabi Sankar and Swaminathan Janakiraman.
Portfolio Assignments
M Rajeshwar Rao:
Handles 11 portfolios, including:
- Monetary Policy Department.
- Department of Regulation.
- Enforcement Department.
- Department of Economic and Policy Research.
- Risk Monitoring Department.
T Rabi Sankar:
Oversees 13 departments, such as:
- Currency Management.
- Financial Markets Operations.
- Information Technology.
- Financial Markets Regulation.
Swaminathan Janakiraman:
Responsible for 9 departments, including:
- Supervision.
- Deposit Insurance and Credit Guarantee Corporation (DICGC).
About Dr. Michael Debabrata Patra
- Served as RBI Deputy Governor since 2020, with his term extended twice in 2023 and 2024.
- Played a key role as a member of the Monetary Policy Committee (MPC) since its inception in 2016.
RBI Deputy Governors
RBI has four deputy governors, including:
- An economist to oversee monetary policy.
- A commercial banker.
- Two from within RBI ranks.
Shriram Housing Finance Rebrands as Truhome Finance

In a significant development, Shriram Housing Finance has rebranded itself as Truhome Finance, marking a pivotal shift in its corporate identity and strategic direction. This transformation follows the acquisition by Warburg Pincus and co-investors, including Qatar’s sovereign wealth fund, QIA. The rebranding aligns with the company’s vision to enhance accessibility to affordable home loans across diverse socio-economic segments.
Rebranding and Acquisition
- Rebranding: Shriram Housing Finance has been rebranded as Truhome Finance, signaling a new strategic direction.
- Acquisition: Warburg Pincus and Qatar Investment Authority (QIA) acquired a substantial stake, investing ₹1,225 crore, increasing the company’s net worth to over ₹3,300 crore.
Strategic Vision and Goals
- Focus on expanding presence in Tier 2 to Tier 4 cities, aiming to drive 55–60% of business from non-metro regions.
- Targeting a 25–30% annual growth in Assets Under Management (AUM) and a 10% increase in disbursements.
- Aspires to become India’s number one affordable housing finance company within three years, with a projected loan book size of ₹35,000–40,000 crore by FY28.
Financial Implications
Cost of Funds:
Post-acquisition, borrowing costs are expected to decrease, with:
- 25 basis points reduction in exit cost.
- 40 basis points reduction in incremental borrowing costs.
Improvement attributed to Warburg Pincus’s strong network and credibility.
Capital Infusion: The ₹1,225 crore investment will support the company’s growth, expanding its lending portfolio and operational capabilities.
Leadership Perspective: Ravi Subramanian, Managing Director and CEO, emphasized that the rebranding reflects a continued focus on customer-centricity, transparency, and trust while maintaining operational continuity.
Future Outlook
- Strengthening its leadership in the affordable housing finance sector.
- Commitment to portfolio quality, yield, and margin preservation.
- Enhancing accessibility to affordable home loans, supporting socio-economic inclusivity.
PNB MetLife Joins Hands with Saraswat Bank for Financial Inclusion

- On January 15, 2025, PNB MetLife India Insurance Company Ltd. partnered with Saraswat Co-Operative Bank Ltd., India’s largest urban co-operative bank.
- Objective: To provide comprehensive life insurance solutions—savings, protection, retirement, and group plans—to Saraswat Bank’s 30 lakh customers across 302 branches.
Strategic Vision
- Address India’s insurance protection gap by combining Saraswat Bank’s extensive customer base and legacy with PNB MetLife’s insurance expertise.
- Cater to customers’ financial needs across life stages, offering essential financial protection and wealth-building opportunities.
Statements from Leadership
Sameer Bansal, MD & CEO, PNB MetLife:
- Emphasized the role of wide-reaching distribution channels in making insurance accessible.
- Highlighted the partnership as a step toward bridging the insurance gap in India.
Arti Patil, MD & CEO, Saraswat Bank: Stated the collaboration aligns with Saraswat Bank’s commitment to delivering comprehensive financial services to customers.
About PNB MetLife
Combines the financial strength of MetLife, Inc. with Punjab National Bank (PNB).
- Offers a diverse product portfolio, including child education, family protection, savings, and retirement plans.
- As of November 30, 2024:
- Operates 155 branches.
- Serves customers in over 19,000 locations via bank partnerships.
About Saraswat Bank
- Founded: Over 100 years ago, it is India’s largest urban co-operative bank.
- Presence: Operates in six states—Maharashtra, Goa, Gujarat, Karnataka, Madhya Pradesh, and Delhi—with over 300 branches and ATMs.
- Business: Total business of over ₹82,000 crore as of March 31, 2024.
Offers a wide range of personal and business banking solutions, tailored to diverse customer needs.
PNB meta life:
- CEO: Ashish Kumar Srivastava (1 Oct 2017–)
- Date founded: 2001
- Headquarters: Mumbai
Appointment news
Punjab National Bank and Indian Bank Appoint New MDs and CEOs

On January 16, 2025, the Indian government appointed new Managing Directors and Chief Executive Officers for two major public sector banks: Ashok Chandra at Punjab National Bank (PNB) and Binod Kumar at Indian Bank.
Punjab National Bank (PNB)
New Appointment: Ashok Chandra appointed as Managing Director (MD) and Chief Executive Officer (CEO).
Tenure:
- Three-year term.
- Age: 57.
Indian Bank New Appointment:
Binod Kumar appointed as MD and CEO.
Tenure:
- Three-year term, with eligibility for an extension of up to two years based on performance review.
- Age: 55.
Vineet Joshi Takes Charge as Secretary of Higher Education

Shri Vineet Joshi has assumed the role of Secretary of the Department of Higher Education in the Ministry of Education, effective at Shastri Bhawan, New Delhi. Prior to this appointment, Shri Joshi had a distinguished career in various key positions within the Indian educational sector. His vast experience in managing education-related initiatives is expected to bring significant improvements to India’s higher education landscape.
Professional Background
- Chief Secretary of Manipur: Managed key administrative functions in the state.
- Director-General of the National Testing Agency (NTA): Oversaw the operational and strategic direction of educational testing.
- Chairman of CBSE: Guided reforms in school education and examination systems.
Additional Secretary in the Ministry of Education: Contributed to national education policies and initiatives.
Other Key Contributions
- Oversaw Institutes of Eminence (IoE) to enhance the global competitiveness of Indian universities.
- Managed the Higher Education Funding Agency (HEFA) to provide financial support for infrastructure development in higher education.
PV Sindhu Partners with PUMA India

PV Sindhu, the two-time Olympic medallist and a global badminton icon, has forged a multi-year partnership with PUMA India, marking the sportswear giant’s official entry into the badminton domain. This strategic collaboration signifies a landmark moment for badminton in India and aims to capitalize on the sport’s burgeoning popularity, which currently boasts a fan base of 57 million across the country. With this partnership, PUMA aims to deepen its footprint in India’s rapidly expanding sports market, while Sindhu continues to inspire millions with her remarkable achievements.
Overview of the Partnership
- Collaboration: PV Sindhu, two-time Olympic medallist, has entered a multi-year partnership with PUMA India.
- Significance: Marks PUMA’s official entry into badminton in India, a rapidly growing sport with a fan base of 57 million.
- Launch: Partnership begins at the India Open 2025 in New Delhi.
Impact on Indian Badminton
Promoting the Sport:
- Highlights PUMA’s commitment to nurturing young badminton talent.
- Aims to increase the sport’s popularity through strategic initiatives.
Sindhu’s Role:
- As the most-followed badminton athlete globally, Sindhu serves as a brand ambassador, leveraging her legacy of achievements, including Olympic medals and a World Championship title.
- Her association elevates PUMA’s presence in India’s sports market.
Science and tech news
C-DOT and IIT Bombay Unite for Indigenous 6G Optical Chipset

India is making significant strides in next-generation telecommunications technology, with the Centre for Development of Telematics (C-DOT) and the Indian Institute of Technology, Bombay (IIT Bombay) signing an agreement for the development of an “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links.” This initiative, under the Telecom Technology Development Fund (TTDF) 6G Call for Proposals by the Department of Telecommunications (DoT), aims to strengthen India’s leadership in 6G innovation and deployment by 2030, with a focus on affordability, sustainability, and ubiquity.
Overview of the Agreement
- Partnership: The Centre for Development of Telematics (C-DOT) and IIT Bombay signed an agreement to develop an Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links.
- Initiative: Part of the Telecom Technology Development Fund (TTDF) 6G Call for Proposals by the Department of Telecommunications (DoT).
- Goal: Strengthen India’s leadership in 6G innovation and deployment by 2030, focusing on affordability, sustainability, and ubiquity.
Key Objectives and Applications
Purpose:
- Enable high-speed communication for rural and challenging terrains.
- Ensure uninterrupted connectivity in remote areas via satellite technology.
Applications:
- Develop free-space coherent optical links for 6G technology.
- Provide high-speed internet in underserved regions.
- Deliver robust connectivity in terrains unsuitable for laying optical fibers.
Stakeholders
C-DOT:
- Premier R&D center under DoT.
- Focused on indigenous development of telecom hardware for 6G.
IIT Bombay:
- Collaborating to enhance R&D capabilities.
- Led by Prof. Shalabh Gupta, the Principal Investigator for the project.
Funding and Leadership: Conducted under the TTDF 6G Call for Proposals, supporting R&D in the 6G ecosystem.
Leadership Comments:
- Dr. Rajkumar Upadhyay (CEO, C-DOT): Highlighted the importance of indigenously developed telecom solutions to align with Atmanirbhar Bharat and the Bharat 6G initiative.
- Prof. Shalabh Gupta (IIT Bombay): Acknowledged the project’s role in advancing cutting-edge telecommunications infrastructure.
Broader Vision and Goals
Research Goals:
- Develop advanced chipsets for seamless 6G connectivity.
- Position India as a global leader in the 6G technology race.
National Development:
- Enhance digital inclusion by addressing connectivity gaps in underserved regions.
- Drive technological self-reliance in telecommunications, aligning with Atmanirbhar Bharat.