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India Beats South Africa to Clinch T20I Series 3-1 & ODI Series 2-1On 19th December 2025, the Indian men’s cricket team defeated South Africa by 30 runs in the fifth and final Twenty20 International (T20I) at the Narendra Modi Stadium, Ahmedabad, Gujarat, to clinch the five-match series 3–1.Event 1:What? India Defeats South Africa to won T20I series 3-1.Player of the Series: Varun ChakravarthyIndia’s Streak: 10 consecutive series wins (including major tournaments)What? India Defeats South Africa to won T20I series 3-1.Player of the Series: Varun ChakravarthyIndia’s Streak: 10 consecutive series wins (including major tournaments)Event 2: What? India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1Player of the Series: Virat KohliWhat? India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1Player of the Series: Virat KohliHighlight of T20I Series 2025:Result: India posted 231/5 and restricted South Africa to 201/8, winning by 30 runs to clinch the series 3–1.India Batting: Tilak Varma’s 73 and Hardik Pandya’s rapid 63 off 25 balls (second-fastest T20I fifty by an Indian), supported by Abhishek Sharma and Sanju Samson, powered a commanding total.Player of the Series: Varun ChakravarthyWinning Streak: The victory extended India’s dominance to eight consecutive T20I series wins and a 10-match unbeaten run in series/tournament play.India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1On 6 December 2025, India defeated South Africa by nine wickets in the third and final One Day International (ODI) at the Dr. Y.S. Rajasekhara Reddy ACA-VDCA Cricket Stadium, Visakhapatnam, Andhra Pradesh (AP), to secure the three-match series 2-1.Highlight of ODI Series 2025:Series: India won the ODI series against South Africa 2-1, with Virat Kohli scoring centuries in the first two matches, Ruturaj Gaikwad also hitting a century in the second ODI, and India sealing the series with a nine-wicket victory in the third match.Player of the Series: Virat KohliAbout the International Cricket Council (ICC):Chairman – Jay ShahHeadquarters – Dubai, United Arab Emirates (UAE)Established – 1909
India Beats South Africa to Clinch T20I Series 3-1 & ODI Series 2-1On 19th December 2025, the Indian men’s cricket team defeated South Africa by 30 runs in the fifth and final Twenty20 International (T20I) at the Narendra Modi Stadium, Ahmedabad, Gujarat, to clinch the five-match series 3–1.Event 1:What? India Defeats South Africa to won T20I series 3-1.Player of the Series: Varun ChakravarthyIndia’s Streak: 10 consecutive series wins (including major tournaments)What? India Defeats South Africa to won T20I series 3-1.Player of the Series: Varun ChakravarthyIndia’s Streak: 10 consecutive series wins (including major tournaments)Event 2: What? India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1Player of the Series: Virat KohliWhat? India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1Player of the Series: Virat KohliHighlight of T20I Series 2025:Result: India posted 231/5 and restricted South Africa to 201/8, winning by 30 runs to clinch the series 3–1.India Batting: Tilak Varma’s 73 and Hardik Pandya’s rapid 63 off 25 balls (second-fastest T20I fifty by an Indian), supported by Abhishek Sharma and Sanju Samson, powered a commanding total.Player of the Series: Varun ChakravarthyWinning Streak: The victory extended India’s dominance to eight consecutive T20I series wins and a 10-match unbeaten run in series/tournament play.India Defeats South Africa by 9 Wickets to Clinch ODI Series 2-1On 6 December 2025, India defeated South Africa by nine wickets in the third and final One Day International (ODI) at the Dr. Y.S. Rajasekhara Reddy ACA-VDCA Cricket Stadium, Visakhapatnam, Andhra Pradesh (AP), to secure the three-match series 2-1.Highlight of ODI Series 2025:Series: India won the ODI series against South Africa 2-1, with Virat Kohli scoring centuries in the first two matches, Ruturaj Gaikwad also hitting a century in the second ODI, and India sealing the series with a nine-wicket victory in the third match.Player of the Series: Virat KohliAbout the International Cricket Council (ICC):Chairman – Jay ShahHeadquarters – Dubai, United Arab Emirates (UAE)Established – 1909
India Beats South Africa to Clinch T20I Series 3-1 & ODI Series 2-1On 19th December 2025, the Indian men’s cricket team defeated South Africa by 30 runs in the fifth and final Twenty20 International (T20I) at the Narendra Modi Stadium, Ahmedabad, Guj...
Shriram Finance SignsPact with Japan’s MUFG Bank to Raise Investment of Rs 39,618 croreIn December 2025, Shriram Finance Limited (SFL), India’s 2nd largest Non-Banking Finance Company (NBFC), announced that it has entered into a definitive agreement with MUFG Bank Limited, Japan’s largest lender and wholly-owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), for an investment of Rs 39,618 crore(USD 4.4 billion). MUFG Bank will invest in SFL through a preferential issuance of equity shares, marking the largest-ever foreign direct investment (FDI) in India’s financial services sector.What? SFL Signed Pact with Japan’s MUFG BankPurpose: To raise Rs 39,618 crore from MUFG BankKey Outcome: MUFG Bank to Acquire 20% in SFLSignificance: Single Largest FDI in India’s Financial Services SectorKey Details:Stake Acquisition: Following the investment, MUFG Bank will acquire a 20% stake in Shriram Finance and gain the right to nominate two non-independent directors to its board.Upon completion of the deal, MUFG Bank will be designated as a public shareholder of SFL.Key Changes: Also, after the transaction is completed, the shareholding of key promoters in SFL i.e. Shriram Ownership Trust and Sanlam of South Africa will be diluted from 25.39% to 20.05% on an expanded capital base.Other Key Shareholders: The remaining shareholders in SFL are: the Government of Singapore (4.73%); Kotak Mahindra Mutual Fund (MF) (2.09%), Fidelity (1.14%) and Monetary Authority of Singapore (1.07%), among others.
Shriram Finance SignsPact with Japan’s MUFG Bank to Raise Investment of Rs 39,618 croreIn December 2025, Shriram Finance Limited (SFL), India’s 2nd largest Non-Banking Finance Company (NBFC), announced that it has entered into a definitive agreement with MUFG Bank Limited, Japan’s largest lender and wholly-owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), for an investment of Rs 39,618 crore(USD 4.4 billion). MUFG Bank will invest in SFL through a preferential issuance of equity shares, marking the largest-ever foreign direct investment (FDI) in India’s financial services sector.What? SFL Signed Pact with Japan’s MUFG BankPurpose: To raise Rs 39,618 crore from MUFG BankKey Outcome: MUFG Bank to Acquire 20% in SFLSignificance: Single Largest FDI in India’s Financial Services SectorKey Details:Stake Acquisition: Following the investment, MUFG Bank will acquire a 20% stake in Shriram Finance and gain the right to nominate two non-independent directors to its board.Upon completion of the deal, MUFG Bank will be designated as a public shareholder of SFL.Key Changes: Also, after the transaction is completed, the shareholding of key promoters in SFL i.e. Shriram Ownership Trust and Sanlam of South Africa will be diluted from 25.39% to 20.05% on an expanded capital base.Other Key Shareholders: The remaining shareholders in SFL are: the Government of Singapore (4.73%); Kotak Mahindra Mutual Fund (MF) (2.09%), Fidelity (1.14%) and Monetary Authority of Singapore (1.07%), among others.
Shriram Finance SignsPact with Japan’s MUFG Bank to Raise Investment of Rs 39,618 croreIn December 2025, Shriram Finance Limited (SFL), India’s 2nd largest Non-Banking Finance Company (NBFC), announced that it has entered into a definitive agreement...
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Protean eGov Technologies Acquires 4.95% Stake in NSDL Payments Bank for Rs.30.2 CroresIn December 2025, Protean electronic (e)Gov Technologies Limited (Protean), formerly NSDL e-Governance Infrastructure Limited, has been approved by its board to acquire 4.95% stake (approximately 93.74 lakh shares) in National Securities Depository Limited (NSDL) Payments Bank(NSDL PB) for Rs.30.2 crores, valued at Rs. 32.2 per share.The transaction is expected to be completed within around 60 days through cash consideration via equity subscription.What? Protean eGov Technologies to Acquire stake in NSDL Payments BankStake: 4.95%Value: Rs.30.2 crores (Rs.32.2 per share)Timeline: Single cash-based equity subscription, expected completion within 60 daysKey Details of Acquisition:Purpose: NSDL aims to enhance digital financial infrastructure by leveraging NSDL Payments Bank, a digital-first banking platform, to expand its technology offerings.Timeline: The acquisition will be executed through a single cash-based equity subscription and is expected to be completed within 60 days of signing the agreement.About NSDL PB: It is a licensed payments bank focused on financial inclusion and digital payments. It operates under the regulatory framework of the Reserve Bank of India (RBI) and provides services such as digital savings accounts, transfers, and accounts.It began operations in 2018 and is a subsidiary of NSDL.
Protean eGov Technologies Acquires 4.95% Stake in NSDL Payments Bank for Rs.30.2 CroresIn December 2025, Protean electronic (e)Gov Technologies Limited (Protean), formerly NSDL e-Governance Infrastructure Limited, has been approved by its board to acquire 4.95% stake (approximately 93.74 lakh shares) in National Securities Depository Limited (NSDL) Payments Bank(NSDL PB) for Rs.30.2 crores, valued at Rs. 32.2 per share.The transaction is expected to be completed within around 60 days through cash consideration via equity subscription.What? Protean eGov Technologies to Acquire stake in NSDL Payments BankStake: 4.95%Value: Rs.30.2 crores (Rs.32.2 per share)Timeline: Single cash-based equity subscription, expected completion within 60 daysKey Details of Acquisition:Purpose: NSDL aims to enhance digital financial infrastructure by leveraging NSDL Payments Bank, a digital-first banking platform, to expand its technology offerings.Timeline: The acquisition will be executed through a single cash-based equity subscription and is expected to be completed within 60 days of signing the agreement.About NSDL PB: It is a licensed payments bank focused on financial inclusion and digital payments. It operates under the regulatory framework of the Reserve Bank of India (RBI) and provides services such as digital savings accounts, transfers, and accounts.It began operations in 2018 and is a subsidiary of NSDL.
Protean eGov Technologies Acquires 4.95% Stake in NSDL Payments Bank for Rs.30.2 CroresIn December 2025, Protean electronic (e)Gov Technologies Limited (Protean), formerly NSDL e-Governance Infrastructure Limited, has been approved by its board to ac...
IIFL Finance Appointed Former RBI Dy-Governor BP Kanungo as ChairmanIn December 2025, IIFL Finance Limited, India’s leading retail-focused diversified Non-Banking Finance Company (NBFC), appointed Bibhu Prasad (BP) Kanungo, former Deputy (Dy)-Governor of Reserve Bank of India (RBI) as non-executive chairman of the board, with immediate effect.Kanungo is currently serving as a non-executive independent director on the board of the company.As per IIFL Finance, Kanungo as chairman will lead the board in framing strategic policies, improving governance standards, and protecting the interests of shareholders.What? IIFL Finance Appointed Non-Chairman of the boardWho? BP Kanungo, former Deputy Governor of RBICurrent Role in IIFL: Non-Executive Independent DirectorTenure as RBI’s Dy-Governor: from 2017 to 2021About BP Kanungo:Experience: He has an extensive experience of nearly 40 years in central banking, monetary policy and financial regulation.RBI’s Deputy Governor: Kanungo served as Deputy Governor of RBI from 2017 to 2021 and was also a member of the Monetary Policy Committee (MPC).
IIFL Finance Appointed Former RBI Dy-Governor BP Kanungo as ChairmanIn December 2025, IIFL Finance Limited, India’s leading retail-focused diversified Non-Banking Finance Company (NBFC), appointed Bibhu Prasad (BP) Kanungo, former Deputy (Dy)-Governor of Reserve Bank of India (RBI) as non-executive chairman of the board, with immediate effect.Kanungo is currently serving as a non-executive independent director on the board of the company.As per IIFL Finance, Kanungo as chairman will lead the board in framing strategic policies, improving governance standards, and protecting the interests of shareholders.What? IIFL Finance Appointed Non-Chairman of the boardWho? BP Kanungo, former Deputy Governor of RBICurrent Role in IIFL: Non-Executive Independent DirectorTenure as RBI’s Dy-Governor: from 2017 to 2021About BP Kanungo:Experience: He has an extensive experience of nearly 40 years in central banking, monetary policy and financial regulation.RBI’s Deputy Governor: Kanungo served as Deputy Governor of RBI from 2017 to 2021 and was also a member of the Monetary Policy Committee (MPC).
IIFL Finance Appointed Former RBI Dy-Governor BP Kanungo as ChairmanIn December 2025, IIFL Finance Limited, India’s leading retail-focused diversified Non-Banking Finance Company (NBFC), appointed Bibhu Prasad (BP) Kanungo, former Deputy (Dy)-Governo...
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Indian Team Photonics Odyssey Wins Most Inspirational Award at NASA Space Apps Challenge 2025In December 2025, an Indian team named Photonics Odyssey, based in Chennai(Tamil Nadu, TN), won the ‘National Aeronautics and Space Administration (NASA’s) Most Inspirational Award’ at the International Space Apps Challenge 2025 for their innovative satellite internet concept to expand broadband access in remote and underserved regions of India.Launched in 2012, this global hackathon drew over 114,000 participants from 167 countries to solve real-world problems using NASA’s open data, with Indian-origin participants among the winners.What? Won award at NASA International Space Apps Challenge 2025Winner: Team Photonics Odyssey (Chennai, TN, India)Team: Manish D., Deeraj K., Prasanth G., Rajalingam N., Rashi M., and Sakthi RProject: Sovereign phased-array satellite internet infrastructureTechnology: Phased-array satellite antennas for fast, reliable, scalable connectivityAbout Winning Project by Photonics Odyssey:Team: Photonics Odyssey comprises Manish D., Deeraj K., Prasanth G., Rajalingam N., Rashi M., and Sakthi R.Sovereign Satellite Internet: Plans a national satellite broadband network using phased-array antennas for fast, reliable, and scalable connectivity in remote and underserved areas.Impact: Reduces dependency on ground-based networks, ensures last-mile connectivity, supports education, healthcare, governance, and economic opportunities, and enhances resilience during natural disasters.Significance: The project promotes India’s Digital India mission and inclusive development, showcasing the nation’s Science, Technology, Engineering, and Mathematics (STEM) innovation and global impact.
Indian Team Photonics Odyssey Wins Most Inspirational Award at NASA Space Apps Challenge 2025In December 2025, an Indian team named Photonics Odyssey, based in Chennai(Tamil Nadu, TN), won the ‘National Aeronautics and Space Administration (NASA’s) Most Inspirational Award’ at the International Space Apps Challenge 2025 for their innovative satellite internet concept to expand broadband access in remote and underserved regions of India.Launched in 2012, this global hackathon drew over 114,000 participants from 167 countries to solve real-world problems using NASA’s open data, with Indian-origin participants among the winners.What? Won award at NASA International Space Apps Challenge 2025Winner: Team Photonics Odyssey (Chennai, TN, India)Team: Manish D., Deeraj K., Prasanth G., Rajalingam N., Rashi M., and Sakthi RProject: Sovereign phased-array satellite internet infrastructureTechnology: Phased-array satellite antennas for fast, reliable, scalable connectivityAbout Winning Project by Photonics Odyssey:Team: Photonics Odyssey comprises Manish D., Deeraj K., Prasanth G., Rajalingam N., Rashi M., and Sakthi R.Sovereign Satellite Internet: Plans a national satellite broadband network using phased-array antennas for fast, reliable, and scalable connectivity in remote and underserved areas.Impact: Reduces dependency on ground-based networks, ensures last-mile connectivity, supports education, healthcare, governance, and economic opportunities, and enhances resilience during natural disasters.Significance: The project promotes India’s Digital India mission and inclusive development, showcasing the nation’s Science, Technology, Engineering, and Mathematics (STEM) innovation and global impact.
Indian Team Photonics Odyssey Wins Most Inspirational Award at NASA Space Apps Challenge 2025In December 2025, an Indian team named Photonics Odyssey, based in Chennai(Tamil Nadu, TN), won the ‘National Aeronautics and Space Administration (NASA’s) M...
HCLTech Partners with Netherlands’ ASN Bank to Modernize IT OperationsIn December 2025, HCL Technologies Limited(HCLTech) announced a multi-year strategic partnership with ASN Bank (formerly part of de Volksbank), the Netherlands’ fourth-largest retail bank, to modernize its digital operations and Information Technology (IT) architecture.What? HCLTech secured multi-year IT modernization contractWith Whom? ASN BankObjective: Support ASN Bank’s ‘Simplify and Grow’ strategyKey Focus: Enterprise application support and streamlining services via a distributed delivery model.HCLTech–ASN Bank Partnership Overview:Objective: Modernise and standardise ASN Bank’s IT architecture while building a future-ready digital organisation.Consolidation & Automation: Streamline IT services, reduce vendors, and automate core banking processes.Scope : Support enterprise applications and IT systems through a scalable distributed delivery model.Operational Efficiency: Improve processes, enhance customer experience, and reduce the number of existing products.Impact: Align with ASN Bank’s ‘Simplify and Grow’ strategy and strengthen HCLTech’s presence in the Dutch banking sector.
HCLTech Partners with Netherlands’ ASN Bank to Modernize IT OperationsIn December 2025, HCL Technologies Limited(HCLTech) announced a multi-year strategic partnership with ASN Bank (formerly part of de Volksbank), the Netherlands’ fourth-largest retail bank, to modernize its digital operations and Information Technology (IT) architecture.What? HCLTech secured multi-year IT modernization contractWith Whom? ASN BankObjective: Support ASN Bank’s ‘Simplify and Grow’ strategyKey Focus: Enterprise application support and streamlining services via a distributed delivery model.HCLTech–ASN Bank Partnership Overview:Objective: Modernise and standardise ASN Bank’s IT architecture while building a future-ready digital organisation.Consolidation & Automation: Streamline IT services, reduce vendors, and automate core banking processes.Scope : Support enterprise applications and IT systems through a scalable distributed delivery model.Operational Efficiency: Improve processes, enhance customer experience, and reduce the number of existing products.Impact: Align with ASN Bank’s ‘Simplify and Grow’ strategy and strengthen HCLTech’s presence in the Dutch banking sector.
HCLTech Partners with Netherlands’ ASN Bank to Modernize IT OperationsIn December 2025, HCL Technologies Limited(HCLTech) announced a multi-year strategic partnership with ASN Bank (formerly part of de Volksbank), the Netherlands’ fourth-largest reta...
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PNB Metlife, PolicyBazaar Launches ‘DigiProtect Term Insurance’ for India’s Salaried IndividualsIn December 2025, PNB MetLife India Insurance Company Limited (PNB MetLife), one of the leading insurance companies in India, launched ‘PNB MetLife DigiProtect Term Plan (UIN-117N141V01)’, designed specifically for salaried individuals in India.This new offering is an individual non-linked, non-participating, pure term insurance plan, offered through a fully digital platform in partnership with PolicyBazaar.What? Launch of DigiProtect Term Insurance PlanLaunched by: PNB MetLife India Insurance Company LimitedName of New Insurance Plan: PNB MetLife DigiProtect Term Plan (UIN-117N141V01)Designed for: India’s salaried individualsCo-Partner: PolicyBazaarKey Benefits: premium break options for consecutive 12 months; maximum 21% discount for 1st-yearKey Features:Comprehensive Life Cover: This insurance plan offers protection for life which includes accelerated benefits in case of terminal illness.Exit Benefit: Policyholders can exit the DigiProtect Term Plan before maturity and receive a full refund of all premiums paid at no extra cost.Pause Option: Policyholders can pause premium payments for 12 months after completing 3 years of the policy, available once every 5 years.Claim Payout: The plan offers an accelerated benefit of Rs.3 lakh, payable within one working day of claim registration after a 3-year waiting period, subject to required documentation.Payout Options: At the claim stage, nominees will have the option to receive death benefit amount as lump sum, monthly instalments or a combination of lump sum and monthly instalments.Discount: It offers up to 21% discount on the 1st premium for the 1st year of plan.
PNB Metlife, PolicyBazaar Launches ‘DigiProtect Term Insurance’ for India’s Salaried IndividualsIn December 2025, PNB MetLife India Insurance Company Limited (PNB MetLife), one of the leading insurance companies in India, launched ‘PNB MetLife DigiProtect Term Plan (UIN-117N141V01)’, designed specifically for salaried individuals in India.This new offering is an individual non-linked, non-participating, pure term insurance plan, offered through a fully digital platform in partnership with PolicyBazaar.What? Launch of DigiProtect Term Insurance PlanLaunched by: PNB MetLife India Insurance Company LimitedName of New Insurance Plan: PNB MetLife DigiProtect Term Plan (UIN-117N141V01)Designed for: India’s salaried individualsCo-Partner: PolicyBazaarKey Benefits: premium break options for consecutive 12 months; maximum 21% discount for 1st-yearKey Features:Comprehensive Life Cover: This insurance plan offers protection for life which includes accelerated benefits in case of terminal illness.Exit Benefit: Policyholders can exit the DigiProtect Term Plan before maturity and receive a full refund of all premiums paid at no extra cost.Pause Option: Policyholders can pause premium payments for 12 months after completing 3 years of the policy, available once every 5 years.Claim Payout: The plan offers an accelerated benefit of Rs.3 lakh, payable within one working day of claim registration after a 3-year waiting period, subject to required documentation.Payout Options: At the claim stage, nominees will have the option to receive death benefit amount as lump sum, monthly instalments or a combination of lump sum and monthly instalments.Discount: It offers up to 21% discount on the 1st premium for the 1st year of plan.
PNB Metlife, PolicyBazaar Launches ‘DigiProtect Term Insurance’ for India’s Salaried IndividualsIn December 2025, PNB MetLife India Insurance Company Limited (PNB MetLife), one of the leading insurance companies in India, launched ‘PNB MetLife DigiPr...
RBI’s Board Approved Risk-based Deposit Insurance Framework for BanksIn December 2025, the Central Board of Directors (BoD) of Reserve Bank of India (RBI) granted its approval for a risk-based deposit insurance framework for banks, transitioning from the existing premium charged to banks under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.The decision was taken at the 620th meeting of Central BoD of RBI, chaired by Sanjay Malhotra, Governor of RBI, held in Hyderabad, Telangana.What? Approval for Risk-based Deposit Insurance Framework for banksApproved by: CBoDs of RBIWhere? 620th meeting of CBoDs of RBIChaired by: RBI Governor Sanjay MalhotraImplemented by: DICGCCurrent Premium Model: Flat-rate premium basis (since 1962)Under Which Act? DICGC Act, 1961Flat-rate Premium: 12 paise for every Rs 100 of assessable depositsKey DetailsExisting Structure: DIGC, established under the DICGC Act, 1961, has been operating the flat-rate premium-based deposit insurance scheme since 1962 i.e. currently, banks pay a premium of 12 paise for every Rs 100 of assessable deposits.Key Change: The newly approved framework will replace the existing flat-rate premium followed by the banks with a risk-based structure which will enable banks with stronger capital adequacy, better asset quality to pay lower premia.Other Key Highlights of Meeting:Key Attendees: Apart from RBI Governor, the meeting was attended by Deputy Governors of RBI: T. Rabi Sankar, Swaminathan J., Poonam Gupta, Shirish Chandra Murmu.Also, others directors of Central Board that included Nagaraju Maddirala, Secretary of Department of Financial Services (DoFS), Ministry of Finance (MoF); Satish K. Marathe; Revathy Iyer; Pankaj Ramanbhai Ptel and Ravindra H. Dholakia.Other Key Decisions: The CBoDs also reviewed the activities of select Central Office Departments and the draft Report on Trend and Progress of Banking in India, 2024-25.
RBI’s Board Approved Risk-based Deposit Insurance Framework for BanksIn December 2025, the Central Board of Directors (BoD) of Reserve Bank of India (RBI) granted its approval for a risk-based deposit insurance framework for banks, transitioning from the existing premium charged to banks under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.The decision was taken at the 620th meeting of Central BoD of RBI, chaired by Sanjay Malhotra, Governor of RBI, held in Hyderabad, Telangana.What? Approval for Risk-based Deposit Insurance Framework for banksApproved by: CBoDs of RBIWhere? 620th meeting of CBoDs of RBIChaired by: RBI Governor Sanjay MalhotraImplemented by: DICGCCurrent Premium Model: Flat-rate premium basis (since 1962)Under Which Act? DICGC Act, 1961Flat-rate Premium: 12 paise for every Rs 100 of assessable depositsKey DetailsExisting Structure: DIGC, established under the DICGC Act, 1961, has been operating the flat-rate premium-based deposit insurance scheme since 1962 i.e. currently, banks pay a premium of 12 paise for every Rs 100 of assessable deposits.Key Change: The newly approved framework will replace the existing flat-rate premium followed by the banks with a risk-based structure which will enable banks with stronger capital adequacy, better asset quality to pay lower premia.Other Key Highlights of Meeting:Key Attendees: Apart from RBI Governor, the meeting was attended by Deputy Governors of RBI: T. Rabi Sankar, Swaminathan J., Poonam Gupta, Shirish Chandra Murmu.Also, others directors of Central Board that included Nagaraju Maddirala, Secretary of Department of Financial Services (DoFS), Ministry of Finance (MoF); Satish K. Marathe; Revathy Iyer; Pankaj Ramanbhai Ptel and Ravindra H. Dholakia.Other Key Decisions: The CBoDs also reviewed the activities of select Central Office Departments and the draft Report on Trend and Progress of Banking in India, 2024-25.
RBI’s Board Approved Risk-based Deposit Insurance Framework for BanksIn December 2025, the Central Board of Directors (BoD) of Reserve Bank of India (RBI) granted its approval for a risk-based deposit insurance framework for banks, transitioning from...
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Brazil Hands Over BRICS Presidency to India for 2026In December 2025, Brazil formally handed over the rotating BRICS (Brazil, Russia, India, China, and South Africa) presidency to India during the 4th BRICS Sherpas Meeting, held from December 11–12, 2025 in Brasília(Brazil).India will officially assume the chairmanship on January 1, 2026.What? Handover of BRICS Presidency from Brazil to India.Where? During 4th BRICS Sherpas Meeting, in Brasília(Brazil)Effective Date: January 1, 2026Symbolic Handover: Amazonian wooden gavel passed from Brazil’s Sherpa Mauricio Lyrio to India’s Sherpa Sudhakar DalelaIndia’s 2026 Pillars: Resilience, Innovation, Cooperation, and Sustainability.About BRICS Handover:Symbolic Handover: Brazil passed a sustainably crafted wooden gavel, made by the Novo Airão community from Amazonian trees, to India’s sherpa, symbolizing environmental consciousness, shared responsibility, and enduring BRICS cooperation.Transition & Term: Brazil’s Sherpa, Ambassador Mauricio Lyrio, handed over the gavel to India’s Sherpa, Ambassador Sudhakar Dalela, while Brazil remains the formal chair until 31st December 2025.Brazil’s 2025 BRICS Presidency Achievements:Theme: Focused on “Strengthening Global South Co-operation for More Inclusive and Sustainable Governance.”Key Achievements: Brazil launched health and Artificial Intelligence (AI) partnerships, approved the first Climate Finance Framework, advanced trade and multilateral dialogue with expanded 11-member BRICS, and issued the Rio Declaration with 126 commitments.India’s 2026 BRICS Presidency Priorities:2026 Presidency: India’s presidency for 2026 will be structured around a “humanity-first approach” proposed by Prime Minister (PM) Narendra Modi. 4 Pillars: The agenda will rest on four central pillars:Resilience: Building capacity to withstand global economic shocks and trade disruptions.Innovation: Promoting Digital Public Infrastructure (DPI) and equitable access to AI.Cooperation: Strengthening intra-bloc trade and political dialogue on global governance reform.Sustainability: Focusing on climate action, disaster risk reduction, and the Sustainable Development Goals (SDG).About BRICS (Brazil, Russia, India, China, and South Africa):Formation: BRICS was established as BRIC(Brazil, Russia, India, China) in September 2006 following United Nations General Assembly (UNGA) discussions and was formally institutionalized as an intergovernmental organization in 2009.Expansion: In September 2010, South Africa joined the group, adding the “S” and renaming it BRICS; later, Egypt, Ethiopia, Iran, and the UAE joined in 2024, followed by Indonesia in 2025.
Quad Partners Successfully Conducted 1st FTX on Sidelines of ‘Operation Christmas Drop’The Quadrilateral Security Dialogue (QUAD) partners including India, the United States of America (USA), Australia and Japan, successfully conducted their 1st Field Training Exercise (FTX) held from December 08 to 12, 2025, on the sidelines of ‘Operation Christmas Drop’ at Andersen Air Force Base (AAFB), Guam (the USA).The exercise aimed to enhance shared logistics capacity for quick and effective responses to regional humanitatarian needs.What? QUAD Partner Successfully Conducted 1st FTXQUAD Partners: India, the USA, Australia and JapanOn the Sidelines of: Operation Christmas DropWhere? Andersen Air Force Base, GuamDuration of Exercise: From December 08 to December 12, 2025FTX Conducted as Part of: Indo-Pacific Logistics Network (IPLN)Key Focus: To enhance Disaster Response Capabilities of QUAD PartnersAbout FTX:ILPN: The exercise operationalised coordination under the Indo-Pacific Logistics Network (IPLN), a Quad framework aimed at strengthening logistics interoperability, information sharing, and coordinated logistics support during Humanitarian Assistance and Disaster Relief (HADR) operations.Training Activities: The exercise bolstered the disaster response capacity of QUAD partners through training activities like: boarding a Japan Air Self-Defence Force (JASDF) C-130H transport aircraft.It was mainly focused on improving interoperability and coordination capabilities of QUAD partners.Significance: FTX, along with Tabletop Exercise (TTX) held in April 2025 at the Asia-Pacific Center for Security Studies (APCSS) in the USA, reaffirmed the QUAD Group’s commitment to strengthening practical cooperation to address regional challenges and to ensuring a free and open Indo-Pacific.About Operation Christmas Drop: Launched in 1952, Operation Christmas Drop is the world’s longest-running humanitarian airlift mission, conducted by the United States Air Force (USAF). It is carried out annually for about two weeks in December across Pacific island nations, with the primary objective of delivering food, medical supplies, and other essential relief materials to remote and isolated island communities.About QUAD:Nature of Group: It is an informal group of 4 countries that aims to strengthen cooperation, ensure maritime security, economic growth, and regional stability in the Indo-Pacific, countering China’s rising influence in the region.Background: The QUAD group was originally conceptualised by Japan’s then Prime Minister (PM) Shinzo Abe in 2007. But, the group was formally revived in 2017.QUAD Leaders’ Summit: The 1st QUAD Leaders’ Summit was held virtually in 2021.In 2024, The USA hosted the 4th QUAD Leaders’ Summit held in Wilmington.India is the host country for 5th QUAD Leaders’ Summit which is scheduled to be held in 2025.
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