National News
Mankind Pharma Acquires Bharat Serums and Vaccines For Rs 13,600 Crore

Mankind Pharma has agreed to acquire a 100% stake in Bharat Serums and Vaccines (BSV) from Advent International for Rs 13,630 crore.
- Company Overview: Mankind Pharma is a leading Indian pharmaceutical company with a strong domestic market presence, focusing on affordable quality products.
- Strategic Move: This acquisition aims to enhance Mankind Pharma’s portfolio in women’s health and fertility drugs, and access high entry barrier products in critical care.
- Market Impact: Mankind Pharma’s shares rose 1.81% to Rs 2143.90 on July 26, with a market capitalization close to Rs 86,000 crore.
- IPO Success: Mankind Pharma’s shares, listed in May 2023 at Rs 1,080 apiece, have nearly doubled in value, increasing by over 98%.
Ministry Of Steel Launches ‘Steel Import Monitoring System’ 2.0 Portal

Shri H.D. Kumaraswamy, Union Minister of Steel and Heavy Industries, launched SIMS 2.0 with Minister of State Shri Bhupathiraju Srinivasa Varma and Secretary Shri Nagendra Nath Sinha in attendance.
- SIMS 2.0 Overview: Upgraded from the original 2019 version, SIMS 2.0 provides detailed steel import data to aid the domestic steel industry and policy-making.
- Enhanced Features: API integration with multiple government portals for better quality control and streamlined processes.
- Data Transparency: Robust data entry system ensures consistent, authentic data, promoting transparency and accountability.
- Risk Management: Integration with various databases allows stakeholders to identify and manage import risks effectively.
Renaming of Rashtrapati Bhavan’s Halls to Reflect Indian Values

President Droupadi Murmu renamed ‘Durbar Hall’ and ‘Ashok Hall’ to ‘Ganatantra Mandap’ and ‘Ashok Mandap’ respectively.
Ganatantra Mandap:
- Formerly: Durbar Hall
- Historical Use: Hosted ceremonies including Jawaharlal Nehru’s swearing-in.
- Rationale: The term ‘Durbar’ is outdated post-India’s republic transformation; ‘Ganatantra’ reflects ancient Indian republic values.
Ashok Mandap:
- Formerly: Ashok Hall
- Original Use: Built as a British ballroom.
- Rationale: ‘Ashok’ symbolizes unity and peace, referencing Emperor Ashok and aligning with India’s national emblem, the lion capital of Ashok from Sarnath.
India’s Nuclear Power Capacity to Triple by 2031-32

India’s nuclear power capacity is set to rise from 8,180 MW to 22,480 MW by 2031-32, according to Union Minister Dr. Jitendra Singh.
- Current Status:
- Installed Capacity: 8,180 MW across 24 reactors.
- Decade Growth: Increased over 70% from 4,780 MW in 2013-14.
- Electricity Generation: Increased from 34,228 million units (2013-14) to 47,971 million units (2023-24).
- Future Projects:
- Under Implementation: 21 reactors with 15,300 MW capacity.
- Under Construction: 9 reactors with 7,300 MW, including PFBR by BHAVINI.
- Pre-Project Activities: 12 reactors with 8,000 MW, including twin 500 MW FBR units by BHAVINI.
- Long-term Goal: Aim for 100,000 MW national nuclear capacity by 2047, aligned with net-zero emissions by 2070.
Banking news
ADB Approves USD 200 Million Loan for Nagpur Metro Urban Mobility Project

The Asian Development Bank (ADB) approved a USD 200 million loan for the Nagpur Metro Urban Mobility Project, to expand metro rail corridors and enhance transport connectivity in Nagpur, Maharashtra.
The project is aimed at improving transport connectivity within and to Nagpur’s new and growing urban areas.
Project Purpose:
- Expand metro rail corridors
- Enhance transport connectivity in Nagpur, Maharashtra
Project Benefits:
- Improved transport connectivity within and to Nagpur’s new and growing urban areas
- Efficient, safe, and eco-friendly public transport
- Eased commuting and boosted productivity
Project Details:
- Metro Rail Extensions: Automotive Square to Kanhan; Prajapati Nagar to Transport Nagar; Khapri to MIDC ESR; Lokmanya Nagar to Hingna
- Total Extension: 43.8 km of elevated metro rail corridors
- Stations: 32 stations
- Features: Modern safety and security technology, designed for women, students, and People with Disabilities (PwDs)
About the Asian Development Bank (ADB)
- Established: 1966
- Objective: Promote a prosperous, inclusive, resilient, and sustainable Asia and the Pacific
- Membership: 68 members (49 from the region)
- President: Masatsugu Asakawa
- Headquarters: Manila, Philippines
Cashfree Payments Receives Payment Aggregator-Cross Border Licence from RBI

Cashfree Payments Receives Payment Aggregator-Cross Border Licence from RBI Bengaluru (Karnataka)-based Cashfree Payments India Private Limited, one of the 1st Payment Aggregators (PA) in India, has received the Payment Aggregator Cross Border (PA- CB) licence from the Reserve Bank of India (RBI) to operate in the cross-border payments space. Cashfree Payments is one of the 1st non-banks to secure the PA-CB licence.
- The PA-CB licence enables entities to process cross-border payment transactions for the import and export of permissible goods and services online.
- There are 3 types of PA-CB licences, export only PA-CB (PA-CB-E), import only PA-CB (PA-CB-I), and export and import PA-CB (PA-CB-E&I). Cashfree Payments has received approval to operate as a PA-CB- E&I.
RBI Cancels Licence of Uravakonda Co-Operative Town Bank, AP

The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (COR) (licence) of Uravakonda Cooperative Town Bank Limited based in Andhra Pradesh (AP), due to inadequate capital and earning prospects. It has failed to comply with the requirements of the Banking Regulation Act 1949.
Reason for Cancellation: Inadequate capital and earning prospects; non-compliance with the Banking Regulation Act, 1949
Effective Date: Close of business on July 20, 2024
- RBI Directive: Cease all banking operations, including accepting new deposits or repaying existing ones
- Actions by State Authorities: Commissioner for Cooperation and Registrar of Cooperative Societies, AP, requested to issue an order for winding up the bank and appoint a liquidator
- Depositor Compensation: Eligible to claim compensation up to Rs 5 lakh per depositor through the Deposit Insurance and Credit Guarantee Corporation (DICGC), as per the DICGC Act, 1961
Science and tech news
Discovery of Lithium Resources in Karnataka by AMD

The Atomic Minerals Directorate for Exploration and Research (AMD), a unit of the Department of Atomic Energy (DAE), has identified lithium resources in the Mandya and Yadgiri districts of Karnataka. Union Minister of State Dr. Jitendra Singh announced the discovery of 1,600 tonnes (G3 stage) of lithium in the Marlagalla area of Mandya district. Preliminary surveys and limited subsurface exploration were also carried out in Yadgiri district.
Lithium Exploration in Karnataka
- Mandya District: AMD established 1,600 tonnes of lithium resources in the Marlagalla area.
- Yadgiri District: Preliminary surveys and subsurface explorations are underway to identify and estimate lithium resources.
C-DOT Signs Agreement with IIT Roorkee and IIT Mandi for ‘Cell-Free’ 6G Access Points Development

The Centre for Development of Telematics (C-DOT), a premier Telecom Research and Development (R&D) center under the Department of Telecommunications (DoT), Ministry of Communications, signed an agreement with the Indian Institute of Technology(IIT)- Roorkee, Uttarakhand and IIT Mandi, Himachal Pradesh, for developing ‘Cell-Free’ 6G (6th Generation of wireless technology) Access Points (APs).
Agreement Signed Under: Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications (DoT)
Key People Present:
- Dr. Rajkumar Upadhyay, CEO, C-DOT
- Dr. Abhay Kumar Sah, Principal Investigator, IIT Roorkee
- Dr. Adarsh Patel, Co-investigator, IIT Mandi
- Dr. Pankaj Kumar Dalela, Director, C-DOT
Traditional Networks: Use cellular topologies with single base stations (e.g., 4G/5G)
‘Cell-Free’ 6G Massive MIMO:
- Eliminates cells and boundaries
- Deploys several Access Points (APs) across a region
- Simultaneously serves many users
Benefits:
- Eliminates dead zones
- Enhances signal strength
- Boosts data speeds
- Provides all-over connectivity, even in densely populated areas
About the Centre for Development of Telematics (C-DOT)
- Established: 1984
- Type: Autonomous Telecom R&D center of the Department of Telecommunications (DoT)
- Legal Status: Registered society under the Societies Registration Act of 1860
- Designation: Public-Funded Research Institution (PFRI) with the Department of Scientific Industrial Research (DSIR), Ministry of Science and Technology (MoS&T)
- CEO: Dr. Rajkumar Upadhyay
- Headquarters: New Delhi, Delhi
Agreement News
Tata Advanced Systems and Airbus Helicopters to Establish Final Assembly Line for H125 in India

On July, 2024, Tata Advanced Systems Limited (TASL) and Marignane, (France) based Airbus Helicopters signed an agreement at the Farnborough International Airshow(FIA) 2024 in Farnborough, England to establish a Final Assembly Line (FAL) in India for single- engine H125 choppers.
The announcement for this agreement was made on January 26, 2024 by Airbus CEO Guillaume Faury and Tata Sons Chairman N Chandrasekaran.
Purpose: Establish a Final Assembly Line (FAL) for single-engine H125 helicopters
Key Points:
- First Facility: Marks India’s first private sector helicopter assembly facility
- Production: H125 choppers for India and neighboring countries
- Start of Deliveries: Expected in 2026
FAL Functions:
- Integration of major component assemblies
- Avionics, mission systems, electrical harnesses, hydraulic circuits
- Flight controls, dynamic components, fuel system, engine
- Conduct testing and qualification of helicopters
About H125:
- Status: World’s best-selling single-engine helicopter
- Notable Achievement: Only helicopter to have landed on Mount Everest
- Family: Part of Airbus’ Ecureuil family
- Flight Hours: Over 40 million flight hours worldwide
About Tata Advanced Systems Ltd (TASL)
- Ownership: Wholly-owned subsidiary of Tata Sons
- Role: Strategic Aerospace and Defence arm of the Tata Group
- CEO and Managing Director: Sukaran Singh
- Headquarters: Hyderabad, Telangana
- Establishment: 2007
Indian Navy and IOCL Partner to Advance Hydrogen and Fuel Cell Technology for E-Mobility

The Indian Navy (IN) has signed a Memorandum of Understanding (MoU) with the Indian Oil Corporation Limited (IOCL) also known as, Indian Oil to promote and expand hydrogen and fuel cell technology for heavy-duty e-mobility. The Indian Navy will serve as a pioneer in evaluating this technology in partnership with the IOCL.
Signatories: Vice Admiral Deepak Kapoor (IN) and Dr. Kannan Chandrasekaran (IOCL)
Event: Nau Sena Bhawan, New Delhi
Key Points:
- Hydrogen Fuel Cell Bus: State-of-the-art green hydrogen fuel cell bus handed over to the Indian Navy
- IOCL Fleet: Operates 15 fuel cell buses in Gujarat and Delhi-NCR, with a total mileage of 300,000 km
- Performance Assessment: Evaluation of fuel cell electric buses under challenging conditions, including local fuel and air quality impacts
About Indian Navy (IN)
- Chief of Naval Staff (CNS): Admiral Dinesh K Tripathi
- Headquarters: New Delhi, Delhi
- Founded: January 26, 1950
About Indian Oil Corporation Limited (IOCL)
- Type: Maharatna Public Sector Enterprise (PSE)
- Under: Ministry of Petroleum and Natural Gas (MoPNG)
- Incorporation: 1964, through the merger of Indian Refineries Limited and Indian Oil Company
- Chairman: Shrikant Madhav Vaidya
- Headquarters: New Delhi, Delhi
Sports news
IOA Names BPCL as Principal Sponsor for Four Years

IOA Named BPCL as Principal Sponsor For Four Years The Indian Olympic Association (IOA) has named Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company as its official Principal Sponsor for four years from the Paris Olympics 2024 to the Los Angeles Olympics 2028.
Sponsorship Duration: Four years (Paris Olympics 2024 to Los Angeles Olympics 2028)
Key Points:
- Campaigns: BPCL will launch campaigns to support the Indian contingent traveling to Paris
- Objectives: Inspire the nation, galvanize support for athletes, and honor their international success
- Coverage: Partnership includes support for the Commonwealth Games, Asian Games, Summer Youth Olympics, Winter Olympics, and Winter Youth Olympics
- Notable BPCL Employees: Former field hockey player MM Somaya, badminton players PV Sindhu and Saina Nehwal
About BPCL:
- Status: Maharatna and Fortune Global 500 Company
- Headquarters: Mumbai, Maharashtra
- Ranking: Second largest Indian Oil Marketing Company and an integrated energy company in India