Indian Sector Specific News:
A) BFSI:
1) Generative AI to Boost Indian Banking by 46%: RBI
- RBI says Generative AI could make banking in India work nearly 46% better by improving customer service, cutting costs, and making processes faster.
- Banks are using AI for things like smarter loan approvals, chatbots for quick help, and personalised services for customers.
- Source: Reserve Bank of India report, Economic Times
2) NRIs’ Term Insurance Purchases from India Double in 2 Years
- More NRIs are buying term insurance from India, with purchases doubling in the past two years due to lower premiums, longer coverage, and payouts in Indian rupees.
- UAE and Gulf countries lead with nearly 60% of purchases, followed by strong growth in Europe and Australia–New Zealand, especially among younger buyers under 40.
- Source: Policybazaar data, Economic Times
3) Sebi Plans Major Rewrite of 30-Year-Old Broker Rules
- Sebi has proposed overhauling its 1992 broker regulations to match today’s tech-driven markets, simplifying compliance, adding clear definitions for algos and platforms, and removing outdated provisions.
- The draft introduces stricter governance rules, new criteria for “Qualified Stock Brokers,” and easier digital record-keeping, while giving exchanges and depositories more inspection powers.
- Source: Mint
B) Automobile:
1) Mahindra to Export EVs to UK After India-UK Trade Deal
- Mahindra & Mahindra will start exporting electric vehicles to the UK, taking advantage of the new India-UK free trade agreement.
- The company aims for EVs to make up 30% of its sales by 2030 and sees competition from global players like Tesla and Vinfast as a growth driver.
- Source: ET Online
C) Pharma:
1) 74th Indian Pharmaceutical Congress to Shape Future of Pharma in India
- The 74th IPC, to be held in Bengaluru from Dec 19–21, will focus on innovation, digital transformation, and workforce development in the pharmaceutical industry and education.
- Highlights include a Pharma Machinery Expo, education expo with foreign universities, job fair with on-the-spot hiring, AI pavilion, and start-up innovation centre.
- Source: Pharmabiz
D) Telecommunication:
1) TRAI Issues Final Response on Network Authorisation Rules Under Telecom Act 2023
- TRAI has submitted revised recommendations to the DoT on terms and conditions for telecom network authorisations, aligning them with the new Telecommunications Act, 2023, which modernises India’s telecom framework.
- The updated suggestions cover licensing norms, fees, technical obligations, competition, innovation, and satellite connectivity, aiming to support robust and future-ready telecom infrastructure.
- Source: Legality Simplified
2) Bengaluru Techie Arrested for Converting International Calls to Local Ones
- A 35-year-old software engineer was arrested in Whitefield for using SIM boxes to convert international calls into local ones, aiding cyber financial fraud.
- Police seized SIM boxes, 133 SIM cards, servers, and other equipment worth ₹10 lakh, with two accomplices still abroad.
- Source: New Indian Express
E) Agriculture:
1) Agri Start-Up Festival 2.0 to Promote Natural Farming and Agri-Business
- The Save Soil movement and SRM University will host Agri Start-Up Festival 2.0 on Aug 17 in Chennai, inaugurated by Union Agriculture Minister Shivraj Singh Chouhan.
- The event will feature training on agri-business, MSME schemes, branding, packaging, and marketing, along with 100+ stalls showcasing innovative agricultural products.
- Source: Covai Post Network
F) Energy:
1) OIL and ONGC Partner for Three Exploration Blocks Under OALP-IX
- Oil India and ONGC have signed a Joint Operating Agreement for three exploration blocks awarded under the OALP Bid Round IX.
- The blocks cover a combined area of about 900 sq km, aiming to boost oil and gas exploration efforts in India.
- Source: Construction World
2) AGEL Commissions 50 MW Solar-Wind Hybrid Project in Khavda
- Adani Green Energy’s subsidiary has commissioned a 50 MW solar-wind hybrid power project in Khavda, Gujarat, raising AGEL’s operational renewable capacity to 15,865.5 MW.
- The project is part of AGEL’s larger plan to build a 30 GW renewable energy plant across 538 sq km of barren land in Khavda.
- Source: Adani Green Energy Limited
G) IT:
1) TCS Hiring Freeze Highlights AI-Driven Transformation in Indian IT Sector
- TCS has frozen hiring for experienced roles and plans to lay off 12,000 employees, signalling a shift towards AI-driven efficiency, cost optimisation, and upskilling.
- AI is boosting productivity by over 30% in software development, reducing errors, and reshaping organisational structures, while creating opportunities for Indian firms to modernise global legacy systems and deliver compliant AI solutions.
- Source: Sanskritiias
H) Infrastructure:
1) Andhra Pradesh Proposes ₹81,317 Crore Projects for Amaravati
- The CRDA has outlined projects worth ₹81,317 crore for developing Amaravati, with tenders already issued for works valued at ₹50,552 crore.
- Construction has started on 74 projects, as CM N Chandrababu Naidu reviews progress on the greenfield capital city.
- Source: PTI
Indian Economy and Government Initiatives:
- Sir Paul Collier: India’s rapid growth makes it an essential global partner, with cooperation — especially on climate change — as vital for Donald Trump as for New Delhi.
- Congress leader Jairam Ramesh accused the Modi government of fostering a “huge social and economic crisis” through policies favoring a few industrialists, citing a Hurun India report on wealth concentration.
Indian Stock Market Update:
- Sensex gained 57.75 points (0.07%) to 80,597.66 and Nifty rose 11.95 points (0.05%) to 24,631.30, ending a six-week losing streak.
- Infosys shares advanced after agreeing to acquire a stake in Australia’s Versent Group, boosting market sentiment.
- Broader markets outperformed, with small-caps up 0.7% and mid-caps gaining 0.9%, while investor caution persisted ahead of Russia-U.S. Ukraine talks.
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