August 11, 2025
No Plan to Restore Old Pension Scheme; Unified Pension Scheme Offers Defined Benefits Under NPS
The Government of India has confirmed that there is no proposal to restore the Old Pension Scheme (OPS) for central government employees covered under the National Pension System (NPS). The shift from OPS was due to its unsustainable fiscal burden. A Unified Pension Scheme (UPS) has been introduced as an option under NPS, providing defined retirement benefits while maintaining fiscal sustainability. UPS offers assured payouts based on service duration and salary, with additional benefits under existing pension rules in cases of death or disability during service. The government also reported an increase in household financial assets and liabilities from 2020 to 2024, with net financial positions improving. Retail loan penetration has moderately increased, asset quality remains stable, and unsecured loans constitute a small portion of advances. Net household financial savings have also risen, indicating no systemic risk to Indian banks' asset quality.
August 11, 2025
Political Leader Urges Quick Action on Voter List Issues and EVM Transparency in Monsoon Session
A political leader emphasized the need to promptly address doubts concerning voter lists, electoral roll revisions, and electronic voting machines to ensure electoral transparency. She urged the state assembly's monsoon session to focus on public welfare by setting aside political differences. Additionally, she called for parliamentary discussion on the impact of US tariffs on national trade, highlighting its significance for the country's economy and development. The leader criticized recent parliamentary disruptions, noting that critical issues affecting the public are not being adequately addressed.
August 11, 2025
Indian Technical Institute Awards 9,800 Degrees, Honors Space Leaders, and Highlights Moon Mission Goal by 2040
A premier Indian technical institute held its 21st convocation, awarding nearly 9,800 degrees across undergraduate, postgraduate, and doctoral levels, with a notable representation of women among doctoral scholars and rank holders. Two senior government officials from the space and earth sciences sectors received honorary Doctor of Science degrees for their contributions to science and national development. The space agency chairman outlined the nation's goal to land astronauts on the Moon by 2040, highlighting past international cooperation and current advancements in aerospace and defense technology. The event emphasized values of honesty, resilience, and lifelong learning as key to individual and national progress, aligning with the country's vision to become a leading global economic power by 2047. The institute reaffirmed its commitment to academic excellence, gender equity, and societal impact through research and innovation across multiple campuses.
August 11, 2025
Microfinance Firm Reports 29% Income Growth in Q1 FY26, Boosted by Secured Lending Strategy and Inclusion Focus
A non-banking financial company specializing in micro and small enterprise lending reported a 29% year-on-year increase in total income for the first quarter of fiscal year 2026, driven by a secured lending strategy. The company's asset under management rose significantly, with secured loans comprising a larger portion of disbursements and the loan book. It maintained strong capital adequacy and net worth growth despite credit market challenges, supported by a diversified lender base and recent equity infusion. The firm targets increased secured lending and focuses on women entrepreneurs, livestock communities, and new-to-credit borrowers to enhance financial inclusion. Its operations span multiple states with an expanding branch network, and it continues social initiatives alongside lending activities.
August 11, 2025
State Unveils AI-Focused IT Policy and Quantum Tech Roadmap to Boost Innovation and Jobs
A state government official highlighted the region as a prime location for entrepreneurship and technological advancement, emphasizing its leadership in artificial intelligence and quantum technology. The official announced initiatives including a new IT policy focused on AI infrastructure, the launch of a state-level Quantum Technology Roadmap, and plans to establish Quantum Hardware Parks and Innovation Zones. The state is noted as the largest software exporter nationally, with a significant share of global capability centers and startups. Commitments were made to expand these centers, create substantial employment, and develop tech clusters beyond the capital city. Additional projects include an integrated ecosystem for innovation and wellness, and a healthcare and life sciences hub combining research, biotech, and medical facilities. The government aims to attract global talent and investment by providing supportive infrastructure and policies to address major global challenges through technology and innovation.
August 11, 2025
State Plans Four New Digital Hubs to Boost Youth Skills in AI, Cybersecurity, and Emerging Tech
The state government announced plans to develop four additional cities as digital hubs alongside the capital, focusing on enhancing youth skills in AI, cybersecurity, and emerging technologies. Agreements were signed with academic and industry partners to promote research, innovation, semiconductor design, technical collaboration, and startup networks. The initiatives aim to create high-end jobs and foster an entrepreneurial ecosystem beyond the capital city, emphasizing job creation, youth empowerment, and social justice. The government committed to supporting investors and entrepreneurs to establish the region as a leading center for technology and entrepreneurship in eastern India.
August 11, 2025
Opposition Protests Halt Parliamentary Session Over Special Electoral Roll Revision Debate
The lower house of Parliament was adjourned until 2 pm following persistent protests by opposition members demanding a discussion on the Special Intensive Revision of electoral rolls in a particular state ahead of upcoming assembly elections. Despite attempts by the Speaker to proceed with scheduled business, opposition members continued to disrupt proceedings by raising slogans and displaying placards. The Speaker criticized the opposition for systematic disruptions over the past two weeks, deeming such actions contrary to parliamentary rules and democratic processes. The session has seen minimal legislative activity since its commencement due to repeated adjournments linked to opposition demands for debates on electoral roll revisions and a separate issue previously raised.
August 11, 2025
Yemen Praises India's Support in Humanitarian Aid, Trade, and Maritime Security Cooperation
The leader of Yemen's Presidential Leadership Council commended the longstanding cooperative relationship and friendship with India during a meeting with the Indian ambassador. He acknowledged India's consistent support for Yemen's government and people, including humanitarian aid such as wheat shipments, medical supplies, and COVID-19 vaccines. The Yemeni leader noted the significant bilateral trade volume nearing USD 1 billion despite difficult conditions and emphasized India's important role in maritime security in the Red Sea and Bab al-Mandab. He also requested enhanced facilitation of Indian wheat imports. The Indian ambassador reiterated support for Yemen's unity, stability, and the transfer of consular services to Aden, while considering additional support programs for Yemen's government and citizens.
August 11, 2025
Civil society urges Finance Ministry to stop private bank's fivefold hike in minimum savings balance under financial inclusion goals
A civil society organization representing banking stakeholders has urged the Finance Ministry to intervene against a private bank's decision to increase the minimum average balance (MAB) for new savings accounts fivefold, from Rs 10,000 to Rs 50,000, effective August 1. The organization argued that this hike, which also raised MAB requirements in semi-urban and rural areas, contradicts the government's goals of inclusive banking and financial growth. They described the move as unjust and regressive, calling for its immediate reversal to protect depositors and promote broader financial inclusion. Public sector banks typically maintain lower or waived balance requirements, contrasting with the private lender's approach, which may impose penalties for non-compliance.
August 11, 2025
Asian Markets Rise Amid US-China Tariff Deadline and Fed Rate Cut Speculation
Asian stock markets rose ahead of a US presidential deadline to potentially impose increased tariffs on Chinese imports, following a 90-day truce that paused triple-digit tariffs. Recent negotiations between the US and China ended without clarity on extending this truce. The uncertainty around tariff imposition has raised concerns about its impact on corporate profits and the broader US economy. Concurrently, US markets showed gains driven by strong earnings reports from major companies, though some sectors faced declines due to recent mergers. Investors are awaiting upcoming US inflation and retail sales data, which may influence the Federal Reserve's interest rate decisions amid trade tensions and economic slowdown risks. The Fed is expected to consider a rate cut to support economic growth while managing inflation and employment targets. Currency and oil prices showed minor fluctuations in response to these developments.
August 11, 2025
Study Reveals Home-Cooked Cat Diets Often Lack Essential Nutrients, Urges Vet-Recommended Commercial Foods
A national survey conducted by a research firm in collaboration with veterinary associations and supported by a petcare company revealed significant nutritional deficiencies in cats fed home-cooked diets in India. The study, involving over 500 veterinarians, debunked common myths such as the suitability of milk for adult cats and the superiority of homemade food. Findings indicate that most veterinarians (88%) believe home-cooked diets fail to meet cats' essential nutrient requirements, while commercial pet foods provide balanced nutrition, improve health outcomes, and are scientifically formulated. Veterinarians recommend feeding cats complete, life stage-appropriate diets and caution against sharing human food due to potential toxicity and malnutrition risks. The research emphasizes the importance of veterinary guidance in pet nutrition to ensure feline health and well-being.
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