Balraj Panwar secured India’s first Paris Olympics quota in rowing by securing 3rd position in the men’s single scull event of the 2024 World Asian and Oceanian Olympic & Paralympic Qualification Regatta at South Korea. The 25-year-old rower from Indian Army demonstrated remarkable performance by clocking 7 minutes and 1.27sec in the 2000-metre race securing the quota.
IIT Delhi has a robust biomedical research ecosystem which is ideal for providing the technical expertise required for research into the diverse medical challenges faced in the Armed Forces, including rehabilitation of amputees. Under the ambit of this MoU, faculty exchange program, joint academic activities and development of joint PhD programmes will also be planned.
Armed Forces Medical Services signed a Memorandum of Understanding for collaborative research and training with Indian Institute of Technology, IIT Delhi. The scope of this MoU includes undertaking research and innovation to develop novel medical devices and focus on solving health issues specific to serving soldiers in varied terrains.
IIT Delhi has a robust biomedical research ecosystem which is ideal for providing the technical expertise required for research into the diverse medical challenges faced in the Armed Forces, including rehabilitation of amputees. Under the ambit of this MoU, faculty exchange program, joint academic activities and development of joint PhD programmes will also be planned.
Department of Administrative Reforms and Public Grievances (DARPG) under Ministry of Personnel, Public Administration and Pensions signed a Memorandum of Understanding with Ministry of Civil Service, Cambodia on cooperation in the field of Human Resource Development in Civil Service.
The MoU advances the cordial and friendly ties between India and Cambodia in the field of Human Resource Development in Civil Service over the next 05 years. It will also facilitate a dialogue between India’s Personnel Administration agencies and the agencies of the Ministry of Civil Service of the Kingdom of Cambodia.
Nasdaq-listed IT services firm Cognizant and Microsoft announced an expanded partnership to drive the adoption of generative AI among enterprises. As part of the partnership, Cognizant purchased 25,000 Microsoft 365 Copilot seats for Cognizant associates, along with 500 Sales Copilot seats and 500 Services Copilot seats to enhance productivity and streamline workflows.
Cognizant and Microsoft will collaborate to deliver industry-specific solutions, using Copilot Studio, a platform that allows users to create and customize their own industry-and-business-function specific Copilots, leveraging generative AI large language models, business applications, and enterprise data.
Pine Labs-owned API infrastructure company Setu appointed Anand Raisinghani as the company’s new chief executive officer (CEO). Raisinghani, who succeeds Sahil Kini at the company, will work in the space of open banking, account aggregation, API platforms, embedded finance, and data gateway. He is a former executive at SAP India where he was the vice-president (VP).
The company has received a Certificate of Registration from the Reserve Bank of India (RBI) to operate as an Account Aggregator.
Founded in 2018, Setu is an application programming interface (API) company offering services across account aggregation, data gateway, identity verification, embedded finance, Open Network for Digital Commerce (ONDC), WhatsApp Business, and BBPS.
Pine Labs acquired the company in 2022 for around $75 million.
The Reserve Bank of India, in a cautious move, declined Annapurna Finance Limited’s application for a universal bank license made in January 2023. The regulator, expressing hesitation about awarding a full-service bank license to the Odissa-based lender, largely focusing on microfinance loans, gave Annapurna Finance the option to become a small finance bank.
UBs are financial entities like commercial banks, financial institutions, NBFCs, etc. that undertake multiple financial transactions. Any individual/entity with at least 10 years of experience in banking and finance at the senior level or private entities with 10 years of successful track record are eligible to apply for on-tap licensing as UBs.
Secondly, aspiring entities ought to have assets of Rs. 5000 crore or above. Thirdly, the required net worth is Rs. 500 crore that has to be maintained at all times. However, large industrial houses are restricted to only invest in UBs up to 10% only. UBs and SFBs are subject to Banking Regulation Act, RBI Act, and all statutes as applicable to banking entities.
For the first time in Andaman and Nicobar Islands, seven members of the Shompen tribe, a particularly vulnerable tribal group (PVTGs) of Great Nicobar Islands exercised their voting rights for the lone Lok Sabha seat in the union territory. As per the 2011 census the population of the Shompen was 229.
Ananth Technologies Founder, CEO and Chairman Pavuluri Subba Rao has been conferred with the ‘Aryabhatta Award’ instituted by the Aeronautical Society of India (ASI). He was also presented with ASI’s ‘Distinguished Fellow’ title. He received the award recognition of Rao’s “tremendous lifetime contribution to the promotion of astronautics in India.”
India was the fourth largest military spender globally in 2023. At $83.6 billion, the country’s military expenditure was 4.2 per cent higher than in 2022. Meanwhile, global military expenditure rose by 7 per cent to $2,443 billion in 2023, the steepest annual rise since 2009, said the latest report by Stockholm International Peace Research Institute (SIPRI).
As per the report, the 10 largest spenders in 2023, led by the United States, China and Russia, all increased their military spending. The largest percentage increase in military spending by any country in 2023 was seen in the Democratic Republic of the Congo (+105 per cent). South Sudan recorded the second largest percentage increase (+78 per cent) amid internal violence
Gandhinagar-based Rashtriya Raksha University and Starburst Aerospace of France entered into a memorandum of understanding (MoU) to advance aerospace, defence, and homeland security innovation. The MoU includes the creation of a venture capital fund of 100 million euros for aerospace, defence and security technology and provides export promotion support for startups.
The partnership between Starburst and RRU is a reflection of the progress in the India-France Strategic Partnership in defence and space. The strategic alliance between RRU, Starburst, and Security and Scientific Technical Research Association (SASTRA), a not-for-profit company set up by RRU, is aimed at fostering innovation and driving advancements in the aerospace sector.
