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World Hindi Day 2026 – January 10World Hindi Day, also known as Vishwa Hindi Diwas, is annually observed across the globe on 10 January to promote awareness of the Hindi language and to honour the contributions of Hindi speakers around the world.What? World Hindi Day 2026 (Vishwa Hindi Diwas)When? 10 January (annually)First Celebration: 10 January 2006January 10: Marks the first use of Hindi in the UNGA (1949); commemorates the first World Hindi Conference (1975).Organiser: Ministry of External Affairs (MEA)Purpose: Promotion of Hindi globallyNational Observance: Hindi Diwas (14 September)Background:Decision: The follow-up committee of the World Hindi Conference decided to designate January 10 as World Hindi Day during its meeting on 8 June 2005.Approval: The decision was officially approved by the then Prime Minister(PM) of India, Dr. Manmohan Singh.First Celebration: The first-ever World Hindi Day was celebrated on 10 January 2006.Since then, the Ministry of External Affairs (MEA) has been organising annual events and activities to promote Hindi globally.Why January 10?UN Milestone: January 10 marks the first use of Hindi in the United Nations General Assembly (UNGA) in 1949.Conference Legacy: The date commemorates the first World Hindi Conference held from 10–12 January 1975 in Nagpur, Maharashtra, inaugurated by former PM Indira Gandhi.National Observance: In India, Hindi Diwas, or Hindi Day, is observed annually on 14 September to mark the 1949 decision of the Constituent Assembly to adopt Hindi in the Devanagari script as one of the 22 official languages of India.About Hindi Language:Language Family: Hindi belongs to the Indo-Aryan branch of the Indo-European family of languages.Constitutional Status: Under Article 343 of the Constitution of India, Hindi in the Devanagari script became the official language of the Government of India (GoI) in 1950 and is listed among the 22 languages in the Eighth Schedule.State Usage: Hindi serves as the official language in several Indian states, including Bihar, Delhi, Haryana, Jharkhand, Madhya Pradesh (MP), Rajasthan, Uttarakhand, and Uttar Pradesh (UP).Worldwide Speakers: Hindi is among the top four most spoken languages globally, with over 600 million speakers, and is widely used in countries such as Mauritius, Suriname, Guyana, Trinidad and Tobago, and Nepal.Hindi in Fiji: Fiji is the only country outside India where Hindi is an official language alongside English and Fijian, with “Fiji Hindi” originating from Indian laborers under the indentured system and formally recognized in the 1997 Constitution of Fiji.
Two New Slender-Armed Frog Species Discovered in Arunachal PradeshIn January 2026, Indian scientists from University of Delhi, discovered two new species of slender-armed frogs ‘Soman’s Slender Arm Frog (Leptobrachium somani)’ and ‘Mechuka Slender Arm Frog (Leptobrachium mechuka)’ from remote mountain habitats of Arunachal Pradesh (AR).The findings were published in the United States of America (USA)-based peer-reviewed scientific journal, PeerJ.What? Discovery of two new frog speciesName of Species: Soman’s Slender Arm Frog (Leptobrachium somani) and Mechuka Slender Arm Frog (Leptobrachium mechuka)By Whom? Indian scientists from University of DelhiWhere? Arunachal PradeshPublished in: PeerJFamily: Megophryidae; Genus: LeptobrachiumAbout the Discovery:Collaboration: The research was conducted over three years by University of Delhi in collaboration with the Museum of Comparative Zoology, Harvard University(United States of America, USA), through extensive field expeditions in remote regions of AR.Classification: The newly identified frogs belong to the genus Leptobrachium of the family Megophryidae, one of the most diverse frog families globally, comprising 366 recognised species across South and Southeast Asia.Of the 39 Leptobrachium species recorded worldwide, only four had earlier been documented in India.Biogeography: The Brahmaputra River acts as a major barrier, with the new species found north of it and other Indian Leptobrachium species confined to the south.About Soman’s Slender Arm Frog :Discovery Site: The species was discovered at Tiwarigaon in the Lower Dibang Valley of AR.Naming & Size: Named in honour of late journalist and environmental reporter E. Somanath, the frog measures approximately 55 millimeter (mm) in length.Appearance: It has a greyish-brown body with irregular light-grey markings and silver-grey to light-blue eyes, and inhabits evergreen forests where males call from stream banks.Mechuka Slender Arm Frog (Leptobrachium mechuka):Discovery Site: The species was identified near Mechuka town in the Shi Yomi district of AR, close to the India–China border.Naming & Size: Named after Mechuka town, the frog measures approximately 60 mm in length.Appearance: It has a uniformly brown body with a reddish tinge and silvery-white eyes, and inhabits evergreen forests and adjoining grasslands.About Arunachal Pradesh (AR):Chief Minister (CM)– Pema KhanduGovernor– Lieutenant (Lt.) General Kaiwalya Trivikram (K.T.) ParnaikCapital– ItanagarWildlife Sanctuary (WLS) – Talle WLS, Eagle Nest WLS
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DRDO Conducts Long-Duration Ground Test of Full-Scale Actively Cooled Scramjet EngineOn January 9, 2026, the Defence Research and Development Organisation (DRDO), under the Department of Defence Research and Development(DDR&D) in the Ministry of Defence(MoD), successfully conducted a long-duration ground test of its full-scale, actively cooled scramjet (supersonic combustion ramjet) engine/combustor at the Scramjet Connect Pipe Test (SCPT) facility of the Defence Research & Development Laboratory (DRDL) in Hyderabad, Telangana, marking a major milestone in India’s Hypersonic Cruise/Missile Programme.What? Long-duration ground test of full-scale actively cooled scramjet engineWho? Defence Research and Development Organisation (DRDO)Where? Scramjet Connect Pipe Test (SCPT) Facility, Hyderabad (Telangana)Lab: Defence Research and Development Laboratory (DRDL)Purpose: Development of Hypersonic Cruise Missile capabilitySpeed: Over Mach 5 (exceeding 6,100 km/h)Test Duration: Over 12 minutesTechnology: Air-breathing supersonic combustion ramjet (scramjet) with active cooling.About Scramjet Test:Performance: The combustor operated for over 12 minutes, validating sustained supersonic combustion and test infrastructure performance.Technology: The air-breathing scramjet engine uses supersonic combustion and active cooling to enable hypersonic flight beyond Mach 5.Development: The combustor and facility were indigenously designed and developed by DRDL with support from industry and academia.Capability: The technology supports hypersonic cruise missiles exceeding 6,100 kilometers per hour (km/h), with high maneuverability and low-altitude flight that complicates interception.Validation: The test confirmed both the advanced combustor design and the performance of state-of-the-art hypersonic test infrastructure.Progressive Scramjet Tests: Earlier ground tests, including a 120-second run (January 2025) and a 1,000-second endurance test (May 2025), gradually scaled up scramjet technology, strengthening India’s regional deterrence.About Defence Research and Development Organization (DRDO):DRDO was formed by merging the Technical Development Establishments (TDEs) of the Indian Army(IA), the Directorate of Technical Development & Production (DTDP), and the Defence Science Organisation (DSO).Chairman – Samir V. KamatHeadquarters – New Delhi, DelhiEstablishment – 1958
Union Minister Ashwini Vaishnaw Confers Ati Vishisht Rail Seva Puraskar 2025 to 100 Railway OfficialsOn January 9, 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), Ministry of Information & Broadcasting (MIB), and Ministry of Electronics & Information Technology (MeitY), conferred 100 railway officers and employees with the 70th Ati Vishisht Rail Seva Puraskar (AVRSP 2025) and awarded 26 shields to the top-performing railway zones.The award ceremony was held at the India International Convention and Expo Centre (IICEC), Yashobhoomi in New Delhi, Delhi.About Ati Vishisht Rail Seva Puraskar (AVRSP 2025):Significance: The AVRSP is one of the highest service awards of Indian Railways (IR), recognizing exemplary service, innovation, courage, and institutional excellence.Key People: The event was attended by Union Ministers of State (MoS) Veeranna Somanna, MoR; Satish Kumar, Chairman & Chief Executive Officer (CEO) Indian Railway Board; and others.Commemorative Releases: During the event, a commemorative coin issued by the India Government Mint, Kolkata (West Bengal, WB), and a postal stamp released by the Department of Posts (DoP) under the Ministry of Communications were unveiled to celebrate the theme “100 Years of Electrification in Indian Railways.”On January 9, 2026, Indian Railways marked the completion of 100 years of rail electrification. To date, over 68,700 route kilometres(km) have been electrified across India, with more than 72% of the work completed.Strategic Roadmap for 2026: During the event, Union Minister Ashwini Vaishnaw, MoR, unveiled an ambitious reform roadmap titled “52 weeks, 52 reforms” for the year 2026 to implement one major reform every week across key areas like customer service, maintenance, and quality management.
Union Minister Ashwini Vaishnaw Confers Ati Vishisht Rail Seva Puraskar 2025 to 100 Railway OfficialsOn January 9, 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), Ministry of Information & Broadcasting (MIB), and Ministry of Electronics & Information Technology (MeitY), conferred 100 railway officers and employees with the 70th Ati Vishisht Rail Seva Puraskar (AVRSP 2025) and awarded 26 shields to the top-performing railway zones.The award ceremony was held at the India International Convention and Expo Centre (IICEC), Yashobhoomi in New Delhi, Delhi.About Ati Vishisht Rail Seva Puraskar (AVRSP 2025):Significance: The AVRSP is one of the highest service awards of Indian Railways (IR), recognizing exemplary service, innovation, courage, and institutional excellence.Key People: The event was attended by Union Ministers of State (MoS) Veeranna Somanna, MoR; Satish Kumar, Chairman & Chief Executive Officer (CEO) Indian Railway Board; and others.Commemorative Releases: During the event, a commemorative coin issued by the India Government Mint, Kolkata (West Bengal, WB), and a postal stamp released by the Department of Posts (DoP) under the Ministry of Communications were unveiled to celebrate the theme “100 Years of Electrification in Indian Railways.”On January 9, 2026, Indian Railways marked the completion of 100 years of rail electrification. To date, over 68,700 route kilometres(km) have been electrified across India, with more than 72% of the work completed.Strategic Roadmap for 2026: During the event, Union Minister Ashwini Vaishnaw, MoR, unveiled an ambitious reform roadmap titled “52 weeks, 52 reforms” for the year 2026 to implement one major reform every week across key areas like customer service, maintenance, and quality management.
Union Minister Ashwini Vaishnaw Confers Ati Vishisht Rail Seva Puraskar 2025 to 100 Railway OfficialsOn January 9, 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), Ministry of Information & Broadcasting (MIB), and Ministry of Electr...
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Morgan Stanley Projects India’s GDP Growth at 7.6% for FY26In January 2026, American brokerage firm Morgan Stanley projected India’s real Gross Domestic Product (GDP) growth at 7.6% Year-on-Year (Y-o-Y) for Financial Year 2025-26 (FY26), 20 basis points (bps) higher than National Statistics Office (NSO)’s latest estimate of 7.4%.However, India’s GDP is projected to slow down at about 6.9% in the Second Half (H2:July-September) of FY26 compared to 8% in H1(April-June) of FY26, below the firm’s previous estimate of 7.3%.What? India’s GDP Projection for FY26Projected by: Morgan StanleyIndia’s GDP: 7.6% (FY26), 6.5% (FY27),Nominal GDP: 8% Y-o-Y Key Highlights:FY27: India’s GDP is expected to expand at 6.5% YoY in FY27.Nominal GDP: The firm has also projected India’s nominal GDP growth rate at 8% Y-o-Y for FY26, lower than 9.7% in FY25.Key Drivers: The report highlighted that the combined impetus from fiscal and monetary policy support, enhanced purchasing power and labour market outlook are expected to support broader consumption recovery.Capex: The report has also projected widespread pickup in Capital Expenditure (Capex) due to rising investor confidence which will further boost private investment.It further underscored that Domestic demand is expected to drive growth, amidst continued tariff and global uncertainty.
Morgan Stanley Projects India’s GDP Growth at 7.6% for FY26In January 2026, American brokerage firm Morgan Stanley projected India’s real Gross Domestic Product (GDP) growth at 7.6% Year-on-Year (Y-o-Y) for Financial Year 2025-26 (FY26), 20 basis points (bps) higher than National Statistics Office (NSO)’s latest estimate of 7.4%.However, India’s GDP is projected to slow down at about 6.9% in the Second Half (H2:July-September) of FY26 compared to 8% in H1(April-June) of FY26, below the firm’s previous estimate of 7.3%.What? India’s GDP Projection for FY26Projected by: Morgan StanleyIndia’s GDP: 7.6% (FY26), 6.5% (FY27),Nominal GDP: 8% Y-o-Y Key Highlights:FY27: India’s GDP is expected to expand at 6.5% YoY in FY27.Nominal GDP: The firm has also projected India’s nominal GDP growth rate at 8% Y-o-Y for FY26, lower than 9.7% in FY25.Key Drivers: The report highlighted that the combined impetus from fiscal and monetary policy support, enhanced purchasing power and labour market outlook are expected to support broader consumption recovery.Capex: The report has also projected widespread pickup in Capital Expenditure (Capex) due to rising investor confidence which will further boost private investment.It further underscored that Domestic demand is expected to drive growth, amidst continued tariff and global uncertainty.
Morgan Stanley Projects India’s GDP Growth at 7.6% for FY26In January 2026, American brokerage firm Morgan Stanley projected India’s real Gross Domestic Product (GDP) growth at 7.6% Year-on-Year (Y-o-Y) for Financial Year 2025-26 (FY26), 20 basis poi...
Choice Wealth Secures Contract from IPPB to Launch Digital Investment PlatformOn January 8, 2026, Choice Wealth Private Limited, a subsidiary of Choice International Limited, received a contract from India Post Payments Bank (IPPB), under the Department of Posts(DoP), Ministry of Communications, to launch a comprehensive digital investment platform, enabling IPPB customers nationwide to access formal financial investment services seamlessly.What? Choice Wealth Secures Contract from IPPBPurpose: To launch a comprehensive digital investment platformKey Services: Online Mutual Fund (MF) aggregation and Robo-Advisory services.Delivery Channels: Mobile applications, web-based platforms, and IPPB mATM-compatible devicesAbout Digital Investment Platform: Services: Offers online Mutual Fund(MF) aggregation, Robo-Advisory (RA), and other digital investment solutions through mobile application (apps), web platforms, and micro-Automated Teller Machine (mATM) devices.Objective: Simplifies investing and promotes financial inclusion, targeting first-time and underserved investors in semi-urban and rural areas.Technology: Ensures secure, technology-driven operations while adhering to regulatory and data protection standards.
Choice Wealth Secures Contract from IPPB to Launch Digital Investment PlatformOn January 8, 2026, Choice Wealth Private Limited, a subsidiary of Choice International Limited, received a contract from India Post Payments Bank (IPPB), under the Department of Posts(DoP), Ministry of Communications, to launch a comprehensive digital investment platform, enabling IPPB customers nationwide to access formal financial investment services seamlessly.What? Choice Wealth Secures Contract from IPPBPurpose: To launch a comprehensive digital investment platformKey Services: Online Mutual Fund (MF) aggregation and Robo-Advisory services.Delivery Channels: Mobile applications, web-based platforms, and IPPB mATM-compatible devicesAbout Digital Investment Platform: Services: Offers online Mutual Fund(MF) aggregation, Robo-Advisory (RA), and other digital investment solutions through mobile application (apps), web platforms, and micro-Automated Teller Machine (mATM) devices.Objective: Simplifies investing and promotes financial inclusion, targeting first-time and underserved investors in semi-urban and rural areas.Technology: Ensures secure, technology-driven operations while adhering to regulatory and data protection standards.
Choice Wealth Secures Contract from IPPB to Launch Digital Investment PlatformOn January 8, 2026, Choice Wealth Private Limited, a subsidiary of Choice International Limited, received a contract from India Post Payments Bank (IPPB), under the Departm...
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Bharat Forge Signs MoU with Agile Robots for AI-Driven Industrial AutomationIn January 2026, India’s Bharat Forge Limited (BFL) and Germany’s Agile Robots S.E. signed a memorandum of understanding (MoU) in Pune, Maharashtra, to explore a strategic collaboration in Artificial Intelligence (AI)-driven robotics and intelligent industrial automation.What? MoU signed for AI-driven robotics and industrial automation.Entities: Bharat Forge (India) and Agile Robots S.E. (Germany)Where? Pune (Maharashtra)Objective: Co-develop AI-enabled robotic systems and intelligent automation solutions for civilian manufacturing industriesFocus Areas: Automotive, healthcare, consumer electronics, industrial consumer products (CPG), logisticsIndo-German Collaboration:Focus: Partnership targets civilian industries, combining Bharat Forge’s manufacturing expertise with Agile Robots’ robotic and automation solutions.Objective: Co-develop and deploy AI- and vision-based automation solutions for manufacturing, industrial, Consumer Packaged Goods (CPG), logistics, and sector applications, including automotive, healthcare, and consumer electronics.Deployment: Introduce Agile Robots’ existing solutions and expand advanced robotic systems across India and Southeast Asia.Autonomy: Develop fully autonomous “dark” factories to improve production efficiency, precision, and domestic manufacturing capabilities.
Bharat Forge Signs MoU with Agile Robots for AI-Driven Industrial AutomationIn January 2026, India’s Bharat Forge Limited (BFL) and Germany’s Agile Robots S.E. signed a memorandum of understanding (MoU) in Pune, Maharashtra, to explore a strategic collaboration in Artificial Intelligence (AI)-driven robotics and intelligent industrial automation.What? MoU signed for AI-driven robotics and industrial automation.Entities: Bharat Forge (India) and Agile Robots S.E. (Germany)Where? Pune (Maharashtra)Objective: Co-develop AI-enabled robotic systems and intelligent automation solutions for civilian manufacturing industriesFocus Areas: Automotive, healthcare, consumer electronics, industrial consumer products (CPG), logisticsIndo-German Collaboration:Focus: Partnership targets civilian industries, combining Bharat Forge’s manufacturing expertise with Agile Robots’ robotic and automation solutions.Objective: Co-develop and deploy AI- and vision-based automation solutions for manufacturing, industrial, Consumer Packaged Goods (CPG), logistics, and sector applications, including automotive, healthcare, and consumer electronics.Deployment: Introduce Agile Robots’ existing solutions and expand advanced robotic systems across India and Southeast Asia.Autonomy: Develop fully autonomous “dark” factories to improve production efficiency, precision, and domestic manufacturing capabilities.
Bharat Forge Signs MoU with Agile Robots for AI-Driven Industrial AutomationIn January 2026, India’s Bharat Forge Limited (BFL) and Germany’s Agile Robots S.E. signed a memorandum of understanding (MoU) in Pune, Maharashtra, to explore a strategic co...
PayG Secures RBI Approval to Operate as PA-P and PA-CBIn January 2026, PayG, one of India’s most-trusted payment gateway service providers, secured the Reserve Bank of India (RBI)’s approval to operate as a Payment Aggregator(PA)-Physical (PA-P) and Cross-Border(PA-CB).Following this approval, PayG has now completed its full suite of PA licenses, enabling it to facilitate digital transactions across different modes like: online, offline (in-person) and global use cases under the regulatory framework of RBI.What? Received Approval to operate as PA-P and PA-CBReceived by: PayGRegulator: Reserve Bank of India (RBI)Significance: Completion of PayG’s full suite of PA licencesKey Details of Approval:Payment Capabilities: Through this license, PayG will now be able to support a comprehensive range of payment use cases through a unified platform.These include processing online payments, providing offline and in-store transactions through Point of Sale (POS), Quick Response (QR) code, managing cross-border payments for international customers and global merchants, among others.Merchant Payment Platform: For merchants, the expanded authorization provides a single platform to handle online, offline and cross-border payments in a secure and transparent manner.About PayG: Founded in 2021 in Bengaluru, Karnataka, PayG develops payment infrastructure for Indian businesses, simplifying domestic and cross-border transactions; it received RBI in-principle approval in 2025.
PayG Secures RBI Approval to Operate as PA-P and PA-CBIn January 2026, PayG, one of India’s most-trusted payment gateway service providers, secured the Reserve Bank of India (RBI)’s approval to operate as a Payment Aggregator(PA)-Physical (PA-P) and Cross-Border(PA-CB).Following this approval, PayG has now completed its full suite of PA licenses, enabling it to facilitate digital transactions across different modes like: online, offline (in-person) and global use cases under the regulatory framework of RBI.What? Received Approval to operate as PA-P and PA-CBReceived by: PayGRegulator: Reserve Bank of India (RBI)Significance: Completion of PayG’s full suite of PA licencesKey Details of Approval:Payment Capabilities: Through this license, PayG will now be able to support a comprehensive range of payment use cases through a unified platform.These include processing online payments, providing offline and in-store transactions through Point of Sale (POS), Quick Response (QR) code, managing cross-border payments for international customers and global merchants, among others.Merchant Payment Platform: For merchants, the expanded authorization provides a single platform to handle online, offline and cross-border payments in a secure and transparent manner.About PayG: Founded in 2021 in Bengaluru, Karnataka, PayG develops payment infrastructure for Indian businesses, simplifying domestic and cross-border transactions; it received RBI in-principle approval in 2025.
PayG Secures RBI Approval to Operate as PA-P and PA-CBIn January 2026, PayG, one of India’s most-trusted payment gateway service providers, secured the Reserve Bank of India (RBI)’s approval to operate as a Payment Aggregator(PA)-Physical (PA-P) and ...
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Skydo Receives Final Authorization from RBI to Operate as PA-CB EntityOn January 9, 2026, Skydo, a cross-border payments platform, received final authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity.What? RBI granted final authorizationEntity: SkydoPurpose: To operate as a PA-CB entityFunction: To legally collect and remit cross-border payments for Indian businessesAbout PA-CB License:Overview: PA-CB license enables a company to collect and remit payments from foreign customers to Indian businesses.Regulated Payments: With this move, Skydo can now legally facilitate international payment collections for Indian exporters and businesses under RBI supervision.Expanded Services: The license enables Skydo to deepen and broaden its offerings, including local collections from overseas clients, invoicing tools, Enterprise Resource Planning (ERP) and accounting integrations, and fast settlements with access to compliance documentation like Foreign Inward Remittance Certificates (FIRCs).About Skydo: Founded in 2022 in Bengaluru(Karnataka), Skydo builds cross-border payment infrastructure for Indian businesses and received in-principle approval from the RBI in 2025.
Skydo Receives Final Authorization from RBI to Operate as PA-CB EntityOn January 9, 2026, Skydo, a cross-border payments platform, received final authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity.What? RBI granted final authorizationEntity: SkydoPurpose: To operate as a PA-CB entityFunction: To legally collect and remit cross-border payments for Indian businessesAbout PA-CB License:Overview: PA-CB license enables a company to collect and remit payments from foreign customers to Indian businesses.Regulated Payments: With this move, Skydo can now legally facilitate international payment collections for Indian exporters and businesses under RBI supervision.Expanded Services: The license enables Skydo to deepen and broaden its offerings, including local collections from overseas clients, invoicing tools, Enterprise Resource Planning (ERP) and accounting integrations, and fast settlements with access to compliance documentation like Foreign Inward Remittance Certificates (FIRCs).About Skydo: Founded in 2022 in Bengaluru(Karnataka), Skydo builds cross-border payment infrastructure for Indian businesses and received in-principle approval from the RBI in 2025.
Skydo Receives Final Authorization from RBI to Operate as PA-CB EntityOn January 9, 2026, Skydo, a cross-border payments platform, received final authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-C...
Bank of Baroda Secured RBI Approval to Switch from Bank PD to Set up Wholly-owned SubsidiaryIn January 2026, Bank of Baroda (BOB), one of India’s leading Public Sector Banks (PSBs), secured in-principle approval from the Reserve Bank of India (RBI) to switch its existing authorization as Bank Primary Dealer (PD) business to set up a wholly-owned subsidiary for undertaking Standalone Primary Dealer (SPD) business.This approval marks a major step in PSB’s strategic restructuring initiatives.RBI has clarified SPD business will be set up subject to other regulatory approvals. RBI increased the aggregate limit available to SPDs under the Standing Liquidity Facility at the existing repo rate, from Rs 10,000 crore to Rs 15,000 crore, with effect from (w.e.f) April 02, 2025.What? BOB received In-Principle Approval from RBIApproval for: to Switch from Bank PD business to wholly-owned subsidiarySignificance: To undertake SPD businessTotal SPDs in India: 07 (ICICI Securities Primary Dealership, Morgan Stanley India PD, among other)Total Bank PDs: 14 (including BoB, Canara Bank, Union Bank of India (UBI), HDFC Bank Limited)About Primary Dealers (PDs):Background: In 1995, RBI introduced the system of PDs aimed to bolster the infrastructure in the Government Securities (G-Sec) market.RBI allowed banks to undertake PD business departmentally in 2006-07.Definition: PDs refer to a RBI-registered Non-Banking Financial Company (NBFC), act as intermediaries between the RBI and other market participants.PDs are authorised to buy and sell G-Secs (like bonds, Treasury-bills (T-bills)) directly from a government’s debt manager (like from RBI) and resell them, ensuring liquidity in G-Secs market.Types of PDs: PDs in India have been classified into two different categories such as: SPDs and Bank PDs.Bank PDs: These are specialized departments within the existing commercial banks that undertake PD activities.SPDs: These entities are either subsidiaries of Scheduled Commercial Banks (SCBs) or incorporated abroad or incorporated under the companies act and registered as NBFCs.Total PDs and SPDs in India: As of now, there are 7 SPDs namely: ICICI Securities Primary Dealership, Morgan Stanley India PD, Nomura Fixed Income Securities, PNB Gifts, SBI DFHI, STCI PD, and Goldman Sachs (India) Capital Markets;And, 14 bank-affiliated PDs in India: Canara Bank, Union Bank of India (UBI), HDFC Bank Limited, Axis Bank Limited, among others.About Bank of Baroda (BOB):Managing Director (MD) and Chief Executive Officer (CEO)- Dr. Debadatta ChandHeadquarters- Vadodara, GujaratTagline- “India’s International Bank”Established- 1908
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