Daily Current Affairs & GK Updates

Union Minister G Kishan Reddy Inaugurates CoE & VRMS in JharkhandOn December 23, 2025, Union Minister G Kishan Reddy, Ministry of Coal and Ministry of Mines (MoM), inaugurated a Centre of Excellence (CoE) under the National Critical Minerals Mission (NCMM) and India’s first Virtual Reality Mine Simulator (VRMS) at Indian Institute of Technology (IIT)-Dhanbad, also known as Indian School of Mines (ISM), in Dhanbad, Jharkhand.He also inaugurated two flagship projects of Bharat Coking Coal Limited (BCCL) in Dhanbad.Key Details:Centre of Excellence (CoE): It will serve as a national hub for research and industry solutions in critical minerals, covering exploration, extraction, processing, recycling, reuse and waste-to-wealth.It will collaborate with industry partners and global universities such as the University of Cambridge(the United Kingdom, UK) and Saint (St) Petersburg University(Russia), with infrastructure support from IIT Gandhinagar (Gujarat), IIT Banaras Hindu University (BHU), Varanasi (Uttar Pradesh, UP) and Centre for Process Innovation (CPI), UK.Virtual Reality Mine Simulator (VRMS): It is developed by IIT Dhanbad in collaboration with Coal India Limited (CIL) and its subsidiaries Northern Coalfields Limited (NCL) and Eastern Coalfields Limited (ECL).VR Theatre: The simulator features a 360-degree immersive Virtual Reality (VR) theatre, which recreates real mining environments using actual mine data.Dugdha Solar Power Project: The 20-Megawatt (MW) Dugdha Solar Power Project was inaugurated in the Dugdha region of Bokaro (Jharkhand).The plant is expected to generate 37.43 Million Units (MU) of green electricity annually, reducing 33,000 Metric Tonnes (MT) of Carbon Dioxide (CO2) equivalent emissions each year.Integrated Command & Control Centre (ICCC): It is an Artificial Intelligence (AI)-enabled ICCC, serving as a digital brain for BCCL by using AI and real-time data analytics to centrally monitor mine sites, washeries, and transportation systems.

25 Dec, 2025

Union Minister G Kishan Reddy Inaugurates CoE & VRMS in JharkhandOn December 23, 2025, Union Minister G Kishan Reddy, Ministry of Coal and Ministry of Mines (MoM), inaugurated a Centre of Excellence (CoE) under the National Critical Minerals Mission (NCMM) and India’s first Virtual Reality Mine Simulator (VRMS) at Indian Institute of Technology (IIT)-Dhanbad, also known as Indian School of Mines (ISM), in Dhanbad, Jharkhand.He also inaugurated two flagship projects of Bharat Coking Coal Limited (BCCL) in Dhanbad.Key Details:Centre of Excellence (CoE): It will serve as a national hub for research and industry solutions in critical minerals, covering exploration, extraction, processing, recycling, reuse and waste-to-wealth.It will collaborate with industry partners and global universities such as the University of Cambridge(the United Kingdom, UK) and Saint (St) Petersburg University(Russia), with infrastructure support from IIT Gandhinagar (Gujarat), IIT Banaras Hindu University (BHU), Varanasi (Uttar Pradesh, UP) and Centre for Process Innovation (CPI), UK.Virtual Reality Mine Simulator (VRMS): It is developed by IIT Dhanbad in collaboration with Coal India Limited (CIL) and its subsidiaries Northern Coalfields Limited (NCL) and Eastern Coalfields Limited (ECL).VR Theatre: The simulator features a 360-degree immersive Virtual Reality (VR) theatre, which recreates real mining environments using actual mine data.Dugdha Solar Power Project: The 20-Megawatt (MW) Dugdha Solar Power Project was inaugurated in the Dugdha region of Bokaro (Jharkhand).The plant is expected to generate 37.43 Million Units (MU) of green electricity annually, reducing 33,000 Metric Tonnes (MT) of Carbon Dioxide (CO2) equivalent emissions each year.Integrated Command & Control Centre (ICCC): It is an Artificial Intelligence (AI)-enabled ICCC, serving as a digital brain for BCCL by using AI and real-time data analytics to centrally monitor mine sites, washeries, and transportation systems.

1397 109 23

Read

Hansi Notified as 23rd District of HaryanaOn December 22 2025, the Haryana government officially notified Hansi as the state’s 23rd district, carved out from Hisar district to enhance administrative decentralization and ensure more efficient, citizen-focused service delivery.The notification, issued under Section 5 of the Haryana Land Revenue Act, 1887, read with Section 5 of the Registration Act, 1908, was approved by , Ashim Kumar Ghosh, Governor of Haryana, authorizing the boundary changes for the creation of the new district.

24 Dec, 2025

Hansi Notified as 23rd District of HaryanaOn December 22 2025, the Haryana government officially notified Hansi as the state’s 23rd district, carved out from Hisar district to enhance administrative decentralization and ensure more efficient, citizen-focused service delivery.The notification, issued under Section 5 of the Haryana Land Revenue Act, 1887, read with Section 5 of the Registration Act, 1908, was approved by , Ashim Kumar Ghosh, Governor of Haryana, authorizing the boundary changes for the creation of the new district.

2424 188 38

Read

Sponsored Advertisement

Government of UP Presented Supplementary Demands of Rs 24,497 Crore for FY26On December 22 2025, Suresh Kumar Khanna, Finance Minister of Uttar Pradesh (UP) presented supplementary demands for grants of Rs 24,496.97 crore for the Financial Year 2025-26 (FY26) during the winter session of the state legislative assembly in Lucknow(UP) to meet immediate revenue requirements.The supplementary budget of Rs.24,497 crore, representing 3.03% of the original Rs.8,08,736.06 crore budget presented in February 2025, increases the total Financial Year 2025-26(FY26) budget to Rs.8,33,233.04 crore.Key Highlights of Supplementary Budget FY26:Budget Estimates: Revenue receipts at Rs 18,369.30 crore and capital expenditure (CapEx) at Rs 6,127.68 crore for FY26.GSDP: The state’s Gross State Domestic Product (GSDP) has been estimated at Rs 31.14 lakh crore for FY26 which is higher than previous estimates.Key Focus Areas: The supplementary budget presented in the assembly focuses on sectors like: industrial development, power sector, health and family welfare, urban development, technical education, sugarcane and sugar mill sector, among others.Key Allocations: Among all the key sectors, the industrial development sector has received the highest budgetary allocation i.e. over Rs 4,874 crore for FY26.It is followed by the power sector (Rs 4,521crore); health and family welfare (over Rs 3,500 crore); urban development (over Rs 1,758.56 crore).

24 Dec, 2025

Government of UP Presented Supplementary Demands of Rs 24,497 Crore for FY26On December 22 2025, Suresh Kumar Khanna, Finance Minister of Uttar Pradesh (UP) presented supplementary demands for grants of Rs 24,496.97 crore for the Financial Year 2025-26 (FY26) during the winter session of the state legislative assembly in Lucknow(UP) to meet immediate revenue requirements.The supplementary budget of Rs.24,497 crore, representing 3.03% of the original Rs.8,08,736.06 crore budget presented in February 2025, increases the total Financial Year 2025-26(FY26) budget to Rs.8,33,233.04 crore.Key Highlights of Supplementary Budget FY26:Budget Estimates: Revenue receipts at Rs 18,369.30 crore and capital expenditure (CapEx) at Rs 6,127.68 crore for FY26.GSDP: The state’s Gross State Domestic Product (GSDP) has been estimated at Rs 31.14 lakh crore for FY26 which is higher than previous estimates.Key Focus Areas: The supplementary budget presented in the assembly focuses on sectors like: industrial development, power sector, health and family welfare, urban development, technical education, sugarcane and sugar mill sector, among others.Key Allocations: Among all the key sectors, the industrial development sector has received the highest budgetary allocation i.e. over Rs 4,874 crore for FY26.It is followed by the power sector (Rs 4,521crore); health and family welfare (over Rs 3,500 crore); urban development (over Rs 1,758.56 crore).

1153 108 11

Read

National Mathematics Day 2025 – December 22National Mathematics Day(NMD), celebrated annually on December 22 to mark the birth anniversary of Indian mathematician Srinivasa Ramanujan and underscores the role of mathematics in human progress.December 22, 2025 commemorates the 138th birth anniversary of Srinivasa Ramanujan.Background :Introduction: NNMD was introduced by former Prime Minister(PM) Manmohan Singh on 26 December 2011 at the University of Madras(Tamil Nadu, TN) to commemorate the 125th birth anniversary of mathematician Srinivasa Ramanujan (born on 22 December 1887).He also announced that 2012 would be observed as the National Mathematics Year.First Observance: The first NMD was celebrated on 22 December 2012.Awards in Honour of Srinivasa Ramanujan:SASTRA Ramanujan Prize:- Instituted in 2005, this annual USD 10,000 prize recognises outstanding contributions by individuals under the age of 32, honouring Ramanujan’s extraordinary achievements.The 2025 SASTRA Ramanujan Prize was awarded to Dr. Alexander Smith of Northwestern University(the United States of America, USA) for his groundbreaking work in number theory, particularly on congruent number problems.DST-ICTP-IMU Ramanujan Prize: It is an annual award for mathematicians under 45 from developing countries, instituted in 2004 and first awarded in 2005, carrying a cash prize of USD 15,000.The 2025 DST–ICTP–IMU Ramanujan Prize was conferred on Claudio Muñoz of the University of Chile for his notable contributions to dispersive partial differential equations.

24 Dec, 2025

National Mathematics Day 2025 – December 22National Mathematics Day(NMD), celebrated annually on December 22 to mark the birth anniversary of Indian mathematician Srinivasa Ramanujan and underscores the role of mathematics in human progress.December 22, 2025 commemorates the 138th birth anniversary of Srinivasa Ramanujan.Background :Introduction: NNMD was introduced by former Prime Minister(PM) Manmohan Singh on 26 December 2011 at the University of Madras(Tamil Nadu, TN) to commemorate the 125th birth anniversary of mathematician Srinivasa Ramanujan (born on 22 December 1887).He also announced that 2012 would be observed as the National Mathematics Year.First Observance: The first NMD was celebrated on 22 December 2012.Awards in Honour of Srinivasa Ramanujan:SASTRA Ramanujan Prize:- Instituted in 2005, this annual USD 10,000 prize recognises outstanding contributions by individuals under the age of 32, honouring Ramanujan’s extraordinary achievements.The 2025 SASTRA Ramanujan Prize was awarded to Dr. Alexander Smith of Northwestern University(the United States of America, USA) for his groundbreaking work in number theory, particularly on congruent number problems.DST-ICTP-IMU Ramanujan Prize: It is an annual award for mathematicians under 45 from developing countries, instituted in 2004 and first awarded in 2005, carrying a cash prize of USD 15,000.The 2025 DST–ICTP–IMU Ramanujan Prize was conferred on Claudio Muñoz of the University of Chile for his notable contributions to dispersive partial differential equations.

1101 53 42

Read

Sponsored Advertisement

World War II Veteran Ira ‘Ike’ Schab Passed AwayIn December 2025, Ira “Ike” Schab, a World War II Veteran of the United States of America (USA), passed away at the age of 105 in Oregon, USA. He was born on July 4, 1920, in Illinois, USA.What? World War II Veteran Passed AwayWho? Ira ‘Ike’ SchabWhere? In Oregon (USA)Survivor: Pearl Harbour attackAbout Ira Ike Schab:Profile: He joined as a sailor in the US Navy in 1938. He was one of the last surviving American servicemen who witnessed the Japanese attack on Pearl Harbour on December 7, 1941, when he served aboard the United States Ship (USS) Dobbin as a sailor and musician.During the assault, he helped pass ammunition for anti-aircraft guns amidst the chaos. After hearing the call for a fire rescue, he went topside and witnessed the chaos as Japanese planes attacked, including seeing the USS Utah capsizing.

24 Dec, 2025

World War II Veteran Ira ‘Ike’ Schab Passed AwayIn December 2025, Ira “Ike” Schab, a World War II Veteran of the United States of America (USA), passed away at the age of 105 in Oregon, USA. He was born on July 4, 1920, in Illinois, USA.What? World War II Veteran Passed AwayWho? Ira ‘Ike’ SchabWhere? In Oregon (USA)Survivor: Pearl Harbour attackAbout Ira Ike Schab:Profile: He joined as a sailor in the US Navy in 1938. He was one of the last surviving American servicemen who witnessed the Japanese attack on Pearl Harbour on December 7, 1941, when he served aboard the United States Ship (USS) Dobbin as a sailor and musician.During the assault, he helped pass ammunition for anti-aircraft guns amidst the chaos. After hearing the call for a fire rescue, he went topside and witnessed the chaos as Japanese planes attacked, including seeing the USS Utah capsizing.

1866 101 23

Read

Pakistan Clinch ACC Men’s U19 Asia Cup 2025 Title by Defeating IndiaThe 12th edition of the Asian Cricket Council (ACC) Men’s Under-19 (U19) Asia Cup 2025 held at two venues International Cricket Council (ICC) Academy Ground, and Sevens Stadium, Dubai, United Arab Emirates (UAE) from 12-21 December 2025.Pakistan’s Under-19 men’s cricket team won the ACC Men’s Under-19 Asia Cup 2025 by defeating India by 191 runs, in the final held at the ICC Academy Ground, Dubai (UAE).What? ACC Men’s U19 Asia Cup 2025Host: United Arab EmiratesWhen? 12-21 December 2025Organizer: Asian Cricket Council (ACC)Winner: Pakistan (2nd U19 Asia Cup title)Runner-up: IndiaOverview of Final Match:Participants: Five full members of the ACC, Afghanistan, Bangladesh, India, Pakistan, and Sri Lanka, are participating along with three qualifying teams, Malaysia, Nepal, and the UAE, from the 2025 ACC Men’s Under-19 Premier Cup.Prize Money: Pakistan received USD 15,000 as winners, while India earned USD 7,500 as runners-up in the Under-19 Asia Cup.Awards: Sameer Minhas (Pakistan) was named Player of the Match in the finals and Player of the Tournament.Scores: Pakistan scored 347 runs for 8 wickets in 50 overs, while India were bowled out for 156 runs in 26.2 overs while chasing a target of 348.Top Performer: Sameer Minhas scored 172 runs off 113 balls, hitting 17 fours and 9 sixes, which is the highest individual score in a U19 Asia Cup final.Bowling Performance: Ali Raza claimed 4 wickets for 42 runs, while Mohammad Sayyam and Abdul Subhan picked up 2 wickets each.Result: Pakistan won the final by 191 runs to secure their second Under-19 Asia Cup title, having previously shared the trophy with India in 2012.Background: The Under-19 ACC Men’s Asia Cup was first held in 1989 in Bangladesh, with India winning the inaugural edition.About Asian Cricket Council (ACC):President – Mohsin NaqviHeadquarters – Dubai, United Arab Emirates (UAE)Established – 1983

24 Dec, 2025

Pakistan Clinch ACC Men’s U19 Asia Cup 2025 Title by Defeating IndiaThe 12th edition of the Asian Cricket Council (ACC) Men’s Under-19 (U19) Asia Cup 2025 held at two venues International Cricket Council (ICC) Academy Ground, and Sevens Stadium, Dubai, United Arab Emirates (UAE) from 12-21 December 2025.Pakistan’s Under-19 men’s cricket team won the ACC Men’s Under-19 Asia Cup 2025 by defeating India by 191 runs, in the final held at the ICC Academy Ground, Dubai (UAE).What? ACC Men’s U19 Asia Cup 2025Host: United Arab EmiratesWhen? 12-21 December 2025Organizer: Asian Cricket Council (ACC)Winner: Pakistan (2nd U19 Asia Cup title)Runner-up: IndiaOverview of Final Match:Participants: Five full members of the ACC, Afghanistan, Bangladesh, India, Pakistan, and Sri Lanka, are participating along with three qualifying teams, Malaysia, Nepal, and the UAE, from the 2025 ACC Men’s Under-19 Premier Cup.Prize Money: Pakistan received USD 15,000 as winners, while India earned USD 7,500 as runners-up in the Under-19 Asia Cup.Awards: Sameer Minhas (Pakistan) was named Player of the Match in the finals and Player of the Tournament.Scores: Pakistan scored 347 runs for 8 wickets in 50 overs, while India were bowled out for 156 runs in 26.2 overs while chasing a target of 348.Top Performer: Sameer Minhas scored 172 runs off 113 balls, hitting 17 fours and 9 sixes, which is the highest individual score in a U19 Asia Cup final.Bowling Performance: Ali Raza claimed 4 wickets for 42 runs, while Mohammad Sayyam and Abdul Subhan picked up 2 wickets each.Result: Pakistan won the final by 191 runs to secure their second Under-19 Asia Cup title, having previously shared the trophy with India in 2012.Background: The Under-19 ACC Men’s Asia Cup was first held in 1989 in Bangladesh, with India winning the inaugural edition.About Asian Cricket Council (ACC):President – Mohsin NaqviHeadquarters – Dubai, United Arab Emirates (UAE)Established – 1983

2227 64 43

Read

Sponsored Advertisement

GRSE Delivers Third Indigenous ASW SWC ‘Anjadip‘ to INOn 22 December 2025, Garden Reach Shipbuilders and Engineers (GRSE) Limited, a key Defence Public Sector Undertaking(PSU) under the Ministry of Defence(MoD), delivered ‘Indian Naval Ship (INS) Anjadip’, the third of eight Anti-Submarine Warfare Shallow Water Craft (ASW SWC), to the Indian Navy (IN) at Chennai Port Trust in Chennai, Tamil Nadu (TN).The vessel was formally accepted by Rear Admiral Gautam Marwaha, Vishisht Seva Medal(VSM), Chief Staff Officer(CSO) (Technical) of the Eastern Naval Command (ENC).About INS Anjadip:Class Name: The vessels belong to the Arnala class, named after islands, with Anjadip named after an island off the coast of Karwar, Karnataka.Milestone: Anjadip is the fifth warship delivered by GRSE in 2025, the 115th warship built by the shipyard, and the 77th delivered to the IN.Technical Specifications: Size: The vessel is 77 meters (m) long, displaces about 900 tonnes, and has a shallow draught of 2.7m for close-to-coast operations.Performance: Powered by three water jets, it is highly maneuverable with a maximum speed of 25 knots.Capability: Armed with lightweight torpedoes, indigenous ASW rockets, a 30 millimeter(mm) Naval Surface Gun, fitted with advanced shallow water Sound Navigation And Ranging (SONAR), and accommodates 57 personnel including 7 officers.

24 Dec, 2025

GRSE Delivers Third Indigenous ASW SWC ‘Anjadip‘ to INOn 22 December 2025, Garden Reach Shipbuilders and Engineers (GRSE) Limited, a key Defence Public Sector Undertaking(PSU) under the Ministry of Defence(MoD), delivered ‘Indian Naval Ship (INS) Anjadip’, the third of eight Anti-Submarine Warfare Shallow Water Craft (ASW SWC), to the Indian Navy (IN) at Chennai Port Trust in Chennai, Tamil Nadu (TN).The vessel was formally accepted by Rear Admiral Gautam Marwaha, Vishisht Seva Medal(VSM), Chief Staff Officer(CSO) (Technical) of the Eastern Naval Command (ENC).About INS Anjadip:Class Name: The vessels belong to the Arnala class, named after islands, with Anjadip named after an island off the coast of Karwar, Karnataka.Milestone: Anjadip is the fifth warship delivered by GRSE in 2025, the 115th warship built by the shipyard, and the 77th delivered to the IN.Technical Specifications: Size: The vessel is 77 meters (m) long, displaces about 900 tonnes, and has a shallow draught of 2.7m for close-to-coast operations.Performance: Powered by three water jets, it is highly maneuverable with a maximum speed of 25 knots.Capability: Armed with lightweight torpedoes, indigenous ASW rockets, a 30 millimeter(mm) Naval Surface Gun, fitted with advanced shallow water Sound Navigation And Ranging (SONAR), and accommodates 57 personnel including 7 officers.

1402 99 31

Read

ROHM Partners with TEPL to Manufacture Semiconductors in IndiaOn December 22, 2025, Japanese semiconductor leader ROHM Company Limited (ROHM) partnered with Tata Electronics Private Limited (TEPL) to manufacture semiconductors for domestic and global markets.This collaboration establishes a sustainable supply chain under Make in India, targeting automotive, consumer electronics, Internet of Things(IoT), Artificial Intelligence(AI), defence, and aerospace sectors.What? Partnership announcedEntities: ROHM & TEPLFocus: Power semiconductors (initially automotive-grade N-channel 100V, 300A Si MOSFET in TOLL packagePhase 1: Assembly & testing at TEPL facilities; mass production 2026Alignment: Make in IndiaPower Semiconductor Framework: The partnership will combine ROHM’s advanced device technologies with TEPL’s assembly and test capabilities to build semiconductor manufacturing infrastructure in India.ROHM & TEPL will explore co-development of advanced, high-value packaging technologies and jointly market the semiconductor supply chain.Collaborative Product: TEPL will assemble and test ROHM’s India-designed automotive-grade 100V, 300A Si Metal-Oxide-Semiconductor Field-Effect Transistor (MOFSET) in a TOLL package, with mass production targeted for 2026.Alignment: The initiative aligns with the Government of India (GOI)’s vision of “Make in India”.About ROHM: ROHM, established in 1958 in Kyoto (Japan), will design, manufacture, and supply of semiconductors, Integrated Circuits (ICs), discrete devices, and electric components.About TEPL: TEPL, established in 2020, focuses on design, assembly, and testing of semiconductors and electronic components.

24 Dec, 2025

ROHM Partners with TEPL to Manufacture Semiconductors in IndiaOn December 22, 2025, Japanese semiconductor leader ROHM Company Limited (ROHM) partnered with Tata Electronics Private Limited (TEPL) to manufacture semiconductors for domestic and global markets.This collaboration establishes a sustainable supply chain under Make in India, targeting automotive, consumer electronics, Internet of Things(IoT), Artificial Intelligence(AI), defence, and aerospace sectors.What? Partnership announcedEntities: ROHM & TEPLFocus: Power semiconductors (initially automotive-grade N-channel 100V, 300A Si MOSFET in TOLL packagePhase 1: Assembly & testing at TEPL facilities; mass production 2026Alignment: Make in IndiaPower Semiconductor Framework: The partnership will combine ROHM’s advanced device technologies with TEPL’s assembly and test capabilities to build semiconductor manufacturing infrastructure in India.ROHM & TEPL will explore co-development of advanced, high-value packaging technologies and jointly market the semiconductor supply chain.Collaborative Product: TEPL will assemble and test ROHM’s India-designed automotive-grade 100V, 300A Si Metal-Oxide-Semiconductor Field-Effect Transistor (MOFSET) in a TOLL package, with mass production targeted for 2026.Alignment: The initiative aligns with the Government of India (GOI)’s vision of “Make in India”.About ROHM: ROHM, established in 1958 in Kyoto (Japan), will design, manufacture, and supply of semiconductors, Integrated Circuits (ICs), discrete devices, and electric components.About TEPL: TEPL, established in 2020, focuses on design, assembly, and testing of semiconductors and electronic components.

1704 120 13

Read

Sponsored Advertisement

Paytm to Set Up Wholly Owned Subsidiaries in Indonesia and LuxembourgIn December 2025, One97 Communications Limited, the parent company of digital payments platform Paytm, through its cloud arm Paytm Cloud Technologies Limited (PCTL), approved the incorporation of two wholly owned subsidiaries in Indonesia and Luxembourg as part of its international expansion strategy.It also approved the restructuring of its United Arab Emirates (UAE)-based payments subsidiary, Paytm Arab Payments L.L.C. (PAPL), by onboarding a new strategic investor, resulting in a corresponding stake dilution.Approval 1:What? Paytm to set up wholly owned subsidiaries in Indonesia and LuxembourgThrough: Paytm Cloud Technologies Limited (PCTL)Operations: Payments and financial servicesInvestment: Up to Rs 25 crore in each new subsidiaryRestructuring (UAE PAPL):AGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLWhat? Paytm to set up wholly owned subsidiaries in Indonesia and LuxembourgThrough: Paytm Cloud Technologies Limited (PCTL)Operations: Payments and financial servicesInvestment: Up to Rs 25 crore in each new subsidiaryRestructuring (UAE PAPL):AGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLAGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLAbout International Expansion:Ownership: Both subsidiaries will be set up as wholly owned units of PCTL, remaining indirectly 100% owned by One97 CommunicationsOperations: Both will operate in the payments and financial services space.Investment: Set up two step-down wholly owned subsidiaries in Indonesia and Luxembourg, with up to Rs 25 crore invested in each in one or two tranches.Restructuring of PAPL UAE:Equity Partnership: Abbar Global Opportunities Holdings Limited (AGOHL), a Special Purpose Vehicle(SPV) of Mohamed Ali Rashed Alabbar, founder of Emaar Properties, will acquire a 49% stake in the entity, valued at around Rs.19 crore (AED 7.69 million), making it a 51% subsidiary of PCTL.Timeline: The transaction is expected to close by February 28, 2026.

24 Dec, 2025

Paytm to Set Up Wholly Owned Subsidiaries in Indonesia and LuxembourgIn December 2025, One97 Communications Limited, the parent company of digital payments platform Paytm, through its cloud arm Paytm Cloud Technologies Limited (PCTL), approved the incorporation of two wholly owned subsidiaries in Indonesia and Luxembourg as part of its international expansion strategy.It also approved the restructuring of its United Arab Emirates (UAE)-based payments subsidiary, Paytm Arab Payments L.L.C. (PAPL), by onboarding a new strategic investor, resulting in a corresponding stake dilution.Approval 1:What? Paytm to set up wholly owned subsidiaries in Indonesia and LuxembourgThrough: Paytm Cloud Technologies Limited (PCTL)Operations: Payments and financial servicesInvestment: Up to Rs 25 crore in each new subsidiaryRestructuring (UAE PAPL):AGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLWhat? Paytm to set up wholly owned subsidiaries in Indonesia and LuxembourgThrough: Paytm Cloud Technologies Limited (PCTL)Operations: Payments and financial servicesInvestment: Up to Rs 25 crore in each new subsidiaryRestructuring (UAE PAPL):AGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLAGOHL to acquire 49% stake, at ~Rs 19 crore (AED 7.69 million)PAPL becomes a 51% subsidiary of PCTLAbout International Expansion:Ownership: Both subsidiaries will be set up as wholly owned units of PCTL, remaining indirectly 100% owned by One97 CommunicationsOperations: Both will operate in the payments and financial services space.Investment: Set up two step-down wholly owned subsidiaries in Indonesia and Luxembourg, with up to Rs 25 crore invested in each in one or two tranches.Restructuring of PAPL UAE:Equity Partnership: Abbar Global Opportunities Holdings Limited (AGOHL), a Special Purpose Vehicle(SPV) of Mohamed Ali Rashed Alabbar, founder of Emaar Properties, will acquire a 49% stake in the entity, valued at around Rs.19 crore (AED 7.69 million), making it a 51% subsidiary of PCTL.Timeline: The transaction is expected to close by February 28, 2026.

2243 193 13

Read

Canara Bank Launches Unified UPI App ‘Canara ai1Pe’ for Secure Digital PaymentsIn December 2025, Canara Bank, a Public Sector Bank (PSB) in India, launched ‘Canara ai1Pe’, a new Unified Payments Interface (UPI)-based digital payments application (app), aimed at providing fast, secure, and convenient payment services to customers across banks.It allows users to link savings or current accounts from any bank to make and receive UPI payments.What? Launch of Canara ai1Pe unified UPI appLaunched by: Canara BankObjective: Strengthen digital payments ecosystem with a secure, feature-rich UPI platformUsers: Customers of any bank can link accountsAbout Canara ai1Pe App:Core Services: Supports instant money transfers, Quick Response (QR)-based merchant payments, utility bill payments, and mobile/Direct-to-Home (DTH) recharges on a single platform.Security: Ensures safe transactions through device binding (registered mobile only) and mandatory UPI Personal Identification Number (PIN) authentication.UPI Delegate: Enables primary users to add trusted family members as delegates with predefined monthly spending limits for shared expenses.Payment Automation: Supports UPI Autopay for recurring payments such as subscriptions, Equated Monthly Installments (EMIs), Systematic Investment Plans (SIPs), and utility bills.Expense Insights: Offers monthly spending analysis, real-time updates, reminders, transaction history, rewards, and a user-friendly interface for easy finance management.

24 Dec, 2025

Canara Bank Launches Unified UPI App ‘Canara ai1Pe’ for Secure Digital PaymentsIn December 2025, Canara Bank, a Public Sector Bank (PSB) in India, launched ‘Canara ai1Pe’, a new Unified Payments Interface (UPI)-based digital payments application (app), aimed at providing fast, secure, and convenient payment services to customers across banks.It allows users to link savings or current accounts from any bank to make and receive UPI payments.What? Launch of Canara ai1Pe unified UPI appLaunched by: Canara BankObjective: Strengthen digital payments ecosystem with a secure, feature-rich UPI platformUsers: Customers of any bank can link accountsAbout Canara ai1Pe App:Core Services: Supports instant money transfers, Quick Response (QR)-based merchant payments, utility bill payments, and mobile/Direct-to-Home (DTH) recharges on a single platform.Security: Ensures safe transactions through device binding (registered mobile only) and mandatory UPI Personal Identification Number (PIN) authentication.UPI Delegate: Enables primary users to add trusted family members as delegates with predefined monthly spending limits for shared expenses.Payment Automation: Supports UPI Autopay for recurring payments such as subscriptions, Equated Monthly Installments (EMIs), Systematic Investment Plans (SIPs), and utility bills.Expense Insights: Offers monthly spending analysis, real-time updates, reminders, transaction history, rewards, and a user-friendly interface for easy finance management.

2488 96 35

Read

Sponsored Advertisement

Daily Current Affairs & GK

Online Test Series