Category: India

  • Security personnel rescue people stranded in floods in Northeastern states

    Source: Government of India

    Source: Government of India (2)

    large-scale humanitarian and disaster relief operation is underway across the Northeastern states of India as incessant rainfall has triggered severe flooding in several regions. The Indian Air Force, Central Armed Police Forces, National Disaster Response Force (NDRF), and state authorities have launched coordinated rescue and relief efforts to assist those stranded.

    Union Minister Kiren Rijiju confirmed the launch of the mission on Monday, calling it a critical intervention to manage the unfolding crisis. “A critical humanitarian assistance and disaster relief mission is being launched by the Indian Air Force, Central Armed Forces, NDRF and State Government Forces in North East India,” Rijiju said in a post on X.

    In Manipur, the Indian Army and Assam Rifles have intensified their efforts under Operation Jal Rahat-2, rescuing over 500 civilians from flood-hit areas in Imphal East and West. The affected zones include Wangkhei, Heingang, Lamlong, Khurai, JNIMS, and Ahallup.

    Ten flood relief columns, equipped with BAUTs (Boat Assault Universal Type) and inflatable boats, have been deployed. Army personnel also undertook emergency repair work on a breached section of the Iril River boundary wall near Arapti Lamkhai in Lilong, Thoubal district, in a bid to prevent further flooding.

    “Army boats ferried stranded patients to safety at JNIMS Hospital. Nearly 800 bottles of drinking water and other essential supplies were distributed to displaced families across affected areas,” the Indian Army said in a statement.

    Operations are being carried out in close coordination with civil authorities to ensure timely aid and continuous support for the affected population.

    Meanwhile, in Sikkim’s Mangan district, restoration work continues after the Phidang Bailey Bridge, which connects Mangan to Chungthang, was partially damaged by the swelling Teesta River. Authorities have restored the Chungthang-Phidang road, enabling the safe evacuation of stranded tourists.

    Search operations are still ongoing for nine tourists who went missing following a tragic vehicle accident in Mangan on May 29. The rescue efforts are being supervised by a joint task force comprising the District Police, District Administration, Indo-Tibetan Border Police (ITBP), Army, Border Roads Organisation (BRO), NDRF, General Reserve Engineer Force (GREF), Fire and Medical Teams, Tourism and Civil Aviation Department, and local stakeholders including the TAAS and Driver Association.

    (ANI)

  • Kanimozhi-led delegation pays tribute to Mahatma Gandhi’s statue in Spain

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation led by DMK MP Kanimozhi Karunanidhi began the final leg of its five-nation visit in Madrid on Sunday.

    The Indian Embassy in Spain said in a statement on X: “The All-Party Parliamentary Delegation commenced the final leg of its five-nation visit in Madrid by paying homage to the bust of Mahatma Gandhi. The tribute was a solemn occasion to reflect on and honor the Mahatma’s enduring values of non-violence and peace.”

    Following the ceremony, the delegation engaged with members of the Indian community and emphasized that India remains unshakable and united in its fight against terrorism, which threatens global peace and humanity. The delegation highlighted that its diverse composition reflects a strong national consensus and resolve across political lines to combat this menace. They urged the Indian community in Spain to take pride in their roots, stand united and actively support India’s efforts to promote justice and peace.

    “During the interaction, members of the Indian diaspora shared that their Spanish acquaintances had reacted with shock and concern to the April 22 terror attack in Pahalgam, reflecting growing international awareness of the challenges India faces in combating terrorism,” the statement said.

    The community also expressed strong support for India’s counter-terrorism efforts and conveyed their solidarity with the nation, the statement added. “The delegation is scheduled to engage with members of the Spanish government, parliamentarians and civil society representatives on the final day of their visit. These engagements will provide a platform to brief Spanish leaders on Operation Sindoor and to articulate India’s position as the world’s fourth-largest economy, committed to peace, stability and a resolute stance against terrorism.”

    In another post on X, the Indian Embassy said: “The All-Party Parliamentary Delegation had a insightful interaction with the Indian diaspora, reaffirming India’s unwavering commitment to peace in the face of terrorism. They emphasized that India will lead the global fight against terrorism, upholding the values of peace and resilience. The delegation with humility and conviction, called upon the community to stand united in pride and shared heritage. The diaspora responded with heartfelt enthusiasm, expressing deep solidarity with the nation and a strong sense of identity and belonging.”

    “The All-Party Parliamentary Delegation visiting Spain interacted with Arturo Fernandez Alvarez, a Spanish businessman, who is a survivor of the horrible terror attacks that took place in Mumbai on November 26, 2008. Arturo joined the delegation in condemning the menace of terrorism,” added the embassy.

    Apart from Kanimozhi, the delegation includes Samajwadi Party MP Rajeev Rai, BJP MP Captain Brijesh Chowta (Retd.), RJD MP Prem Chand Gupta, AAP MP Ashok Kumar Mittal, and Former Deputy Permanent Representative of India to the UN, Ambassador Manjeev Singh Puri and Ambassador Jawed Ashraf.

  • Drones hidden in wooden sheds: How Ukraine carried out its most devastating drone strike of the war

    Source: Government of India

    Source: Government of India (4)

    Ukrainian secret services were able to attack strategic bomber aircraft at Russian air bases on Sunday by hiding explosive-laden drones inside the roofs of wooden sheds, according to a Ukrainian security official and images posted online.

    Ukraine’s domestic security agency, the SBU, acknowledged that it carried out the operation, codenamed “Spider’s Web” and said it had caused considerable damage.

    The sheds were loaded onto trucks that were driven to the perimeter of the air bases. The roof panels of the sheds were lifted off by a remotely-activated mechanism, allowing the drones to fly out and begin their attack, the official said.

    The security official, who spoke on condition of anonymity, said strikes were conducted on Sunday on four air bases, and that 41 Russian warplanes were hit.

    An SBU statement posted on the Telegram messaging app estimated the damage caused by the assaults at $7 billion.

    “Thirty-four percent of strategic cruise missile carriers at the main airfields of the Russian Federation were hit,” the SBU said on the Telegram messaging app.

    President Volodymyr Zelenskiy, writing on Telegram, expressed delight at the “absolutely brilliant outcome”.

    “And an outcome produced by Ukraine independently,” he wrote, noting that the operation had taken more than a year and a half to prepare. “This is our longest-range operation.”

    Speaking shortly afterwards in his nightly video address, the president noted that 117 drones had been used to attack the Russian bases and that Russian forces suffered “very tangible losses, and justifiably so”.

    Zelenskiy said the SBU had set up a nerve centre for the operation right next to a regional office of Russia’s FSB intelligence service. All operatives taking part had been brought out of Russia “on the eve of the operation”, he said.

    VIDEO SHOWS BOMBERS ABLAZE

    Unverified video and pictures posted on Russian social media showed Russian strategic bombers on fire at the Belaya air base in the Irkutsk region of Siberia.

    Igor Kobzev, the regional governor, said there had been a drone attack on a military unit near the village of Sredny, which is near the Belaya base, though he did not specify what the target was. He said the drones had been launched from a truck.

    The Irkutsk region attack was the first time a drone assault had been mounted by Ukraine so far from the front lines, which are more than 4,300 km (2,670 miles) away.

    That is beyond the range of the long-range strike drones or ballistic missiles Ukraine has in its arsenal, so required a special scheme to get the drones close enough to their targets.

    Photographs shared with Reuters by the Ukrainian security official showed dozens of short-range quadrocopter drones piled up in an industrial facility. The official said these were the same devices used in the attack.

    Other images shared by the official showed the wooden sheds with their metal roofing panels removed, and the drones sitting in the cavities between roof beams.

    Separate video posted on Russian Telegram channels, which has not been verified by Reuters, appeared to show matching sheds on the back of a truck.

    The roof panels can be seen lying on the ground next to the truck, and the video footage shows at least two drones rising out of the top of the sheds and flying off.

    The Russian online media outlet that posted the video, Baza, said in a caption that it was filmed in the district near the Belaya air base.

    The Irkutsk region air base hosts Tupolev Tu-22M supersonic long-range strategic bombers, a type of aircraft that has been used to launch missiles against targets in Ukraine.

    The operation, according to the Ukrainian security official, was personally overseen by Zelenskiy and Vasyl Maliuk, head of the SBU domestic intelligence agency.

    If confirmed, the strikes would be the most damaging Ukrainian drone attack of the war, and would be a significant setback for Moscow.

    The source shared video footage shot from a drone, saying it showed one of the strikes. The images showed several large aircraft, some of which appeared to be Tu-95 strategic bombers, on fire.

    (Reuters)

  • MIL-OSI Banking: RBI launches Survey on Computer Software and Information Technology Enabled Services (ITES) Exports: 2024-25

    Source: Reserve Bank of India

    The Reserve Bank has launched the 2024-25 of its annual survey on Computer Software and Information Technology Enabled Services (ITES) Exports.

    The survey collects data on various aspects of computer services exports as well as exports of information technology enabled services (ITES) and business process outsourcing (BPO). The survey results are disseminated in public domain besides being used in compilation of India’s external sector statistics.

    The survey schedule for the 2024-25 round is required to be filled in by all software and ITES/BPO exporting entities. The format of the ITES survey schedule has been updated for the current round. The soft form of this survey schedule (both in Hindi and English) is available on the RBI’s website under the head ‘Regulatory Reporting’ → ‘List of Returns’ → ‘Return Name’ → ‘ITES – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page) and sub-head ‘Survey’], which can be duly filled and submitted via email by July 15, 2025.

    The instructions are provided in FAQs and, in case of any query or clarification, kindly contact us at itesquery@rbi.org.in or given below address.

    The Director,
    International Investment Position Division,
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C-9, 5th floor, Bandra-Kurla Complex, Bandra (E),
    Mumbai – 400 051.
    Please click here to send email.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/453

    MIL OSI Global Banks

  • MIL-OSI Banking: RBI launches the Survey on Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies: 2024-25 round

    Source: Reserve Bank of India

    The Reserve Bank has launched the 2024-25 round of its annual survey on ‘Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies’. The survey collects the information from mutual fund companies and asset management companies on their external financial liabilities and assets as at end-March of the latest financial year. The survey results are disseminated in the public domain besides being used in compilation of India’s external sector statistics.

    Asset management companies (AMCs) are required to submit the annual return on Foreign Liabilities and Assets (FLA) online through the web-based portal (https://flair.rbi.org.in) by July 15, 2025.

    In addition, mutual fund companies are required to fill the survey schedule (Schedule-4), which is available on the RBI website under the head ‘Regulatory Reporting’ → ‘List of Returns’ → ‘FLA MF – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page) and sub-head ‘Survey’], and send via e-mail by July 15, 2025.

    Both Hindi and English formats are available for Schedule-4 and reporting companies may use either of them. Please refer to the instructions with FAQs and in case of any query or clarification, kindly contact:

    The Director,
    International Investment Position Division (IIPD),
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C9-5th floor, Bandra-Kurla Complex, Bandra (East),
    Mumbai-400051.
    Please click here to send email.

    Ajit Prasad           
    Deputy General Manager
    (Communications)      

    Press Release: 2025-2026/452

    MIL OSI Global Banks

  • MIL-OSI Banking: RBI launches the 15th round of the Survey on Foreign Collaboration in Indian Industry

    Source: Reserve Bank of India

    The Reserve Bank of India has been conducting the Survey on Foreign Collaboration in Indian Industry since 1965. The 15th round of the survey with 2023-24 and 2024-25 as the reference period has now been launched.

    The survey collects information on the operations of the Indian companies having foreign technical collaboration in terms of performance indicators (e.g., production, exports, imports, cost of material) along with the crucial features of technology transfer agreements (viz., nature, duration, mode of payment, export restriction, provision of exclusive rights, use of technology after expiry of the agreements).

    The schedule of this survey is required to be filled by the Indian companies having technical collaborations with foreign companies. The soft form of the survey schedule (both in Hindi and English – one of which can be used) is available on the RBI website under the head ‘Regulatory Reporting’ -→ ‘List of Returns’ -→ ‘FCS – Survey Schedule’ [or under the head ‘Forms’ (available at the bottom of the home page in sub-head ‘Survey’), which can be duly filled-in and submitted to email by July 15, 2025.

    The instructions are provided in RBI website under ‘Research and Data’ in FAQs and, in case of any query or clarification, kindly contact us at:

    The Director,
    International Investment Position Division,
    Department of Statistics and Information Management (DSIM),
    Reserve Bank of India,
    C-9, 5th floor, Bandra-Kurla Complex, Bandra (E),
    Mumbai – 400 051.
    Please click here to send email.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/451

    MIL OSI Global Banks

  • South Korea’s political crisis from martial law to snap election

    Source: Government of India

    Source: Government of India (4)

    South Koreans will go to the polls in a snap election on Tuesday, voting for a president to replace Yoon Suk Yeol, who was ousted from office in April after his brief martial law attempt sent shockwaves through the country.

    Here are key events from martial law to Yoon’s impeachment, arrest, and indictment, and election day.

    December 3, 2024: Shortly before 10:30 p.m. (1330 GMT), Yoon declares on national television he is imposing martial law to root out “anti-state forces” and overcome political deadlock.

    An hour later the military issues a decree banning activity by political parties and lawmakers, and troops and police descend on the opposition-controlled parliament. Staffers use barricades and fire extinguishers to ward off special operations soldiers who arrive by helicopter and break windows as they enter parliament.

    Lawmakers hop fences to avoid the security cordons and crowds of protesters gather.

    December 4: Defying the military’s order, 190 lawmakers in the early hours unanimously vote to reject Yoon’s declaration and troops begin to leave.

    About three and a half hours later, Yoon gives another televised speech, announcing he is lifting martial law. The decree was in effect for about six hours.

    Opposition parties submit motion to impeach Yoon.

    U.S. Deputy Secretary of State Kurt Campbell says Yoon “badly misjudged” his decision to declare martial law, which was “deeply problematic” and “illegitimate.”

    December 5: Yoon’s People Power Party, although divided, decides to oppose his impeachment.

    Yoon accepts the resignation of Defence Minister Kim Yong-hyun. Police investigate Yoon, Kim and the interior minister on accusations of treason and related crimes over the declaration of martial law after opposition parties and activists filed complaints.

    December 6: PPP leader Han Dong-hoon says Yoon must be removed from power for trying to impose martial law. Some party members urge Yoon to resign.

    December 7: Yoon addresses the nation to apologise, saying he will put his fate in the hands of the PPP but not saying he will resign.

    A vote to impeach Yoon fails as the PPP boycotts, depriving parliament of a quorum.

    December 8: Prosecutors name Yoon as the subject of a criminal investigation over the martial law attempt. Ex-Defence Minister Kim is arrested.

    December 9: The justice ministry bars Yoon from leaving South Korea.

    December 10: Kwak Jong-geun, commander of the Army Special Warfare Command, tells a parliamentary committee that Yoon gave an order to “drag out” lawmakers from parliament after declaring martial law.

    Ex-Defence Minister Kim attempts suicide in jail.

    December 11: Police try to search Yoon’s office but are blocked from entering the building.

    December 12: Yoon says in another televised speech he will “fight to the end”, alleging North Korea had hacked South Korea’s election commission and expressing doubt over his party’s landslide election defeat in April. The National Election Commission denies the claim.

    December 14: Parliament impeaches Yoon with the support of 204 of the 300 lawmakers in the one-chamber parliament. At least 12 PPP members vote to impeach.

    Yoon’s presidential powers are suspended, and Prime Minister Han Duck-soo becomes acting president.

    December 16: The Constitutional Court begins reviewing the impeachment case.

    December 27: Parliament impeaches and suspends acting President Han, less than two weeks after suspending Yoon. Finance Minister Choi Sang-mok assumes the position of acting president.

    The court holds first public hearing in Yoon’s impeachment case.

    December 31: The Seoul Western District Court approves an arrest warrant requested by the Corruption Investigation Office for High-ranking Officials (CIO) after Yoon failed to appear for questioning over insurrection allegations.

    Yoon’s lawyers say the arrest warrant is illegal and invalid because the CIO does not have the proper authority.

    January 3: Presidential guards and military troops prevent authorities from arresting Yoon in a tense six-hour stand-off inside his compound in the heart of Seoul.

    January 7: The Seoul Western District Court approves an extension of the arrest warrant after the CIO’s failed attempt.

    January 14: The Constitutional Court adjourns the opening session of Yoon’s impeachment trial within minutes, after the embattled leader did not attend court.

    January 15: Yoon agrees to leave his compound after around 3,000 police arrive for a second arrest attempt. Yoon says in a message he only submitted to avoid bloodshed, and the CIO says he refuses to answer questions. He is the first sitting South Korean president to be arrested.

    January 19: Hundreds of Yoon supporters storm a court building after his detention was extended, smashing windows and breaking inside. Yoon continues to refuse to answer questions.

    January 21: Yoon attends his impeachment trial at the Constitutional Court for the first time. When questioned by a justice, he denies ordering military commanders to drag lawmakers out of parliament.

    January 23: The CIO transfers its case to prosecutors and asks them to indict Yoon for insurrection and abuse of power.

    January 24-25: A court twice rejects requests by prosecutors for an extension of Yoon’s detention while they do further investigation.

    January 26: Prosecutors indict Yoon on insurrection charges and ask that he be kept in custody.

    February 4-18: Constitutional Court holds five hearings in Yoon’s impeachment trial.

    February 20: Seoul Central District Court questions Yoon concerning lawyers’ request to cancel his arrest as “unlawful”, holds preparatory hearing for insurrection trial.

    Constitutional Court holds 10th hearing in Yoon’s impeachment trial.

    February 25: Court holds final hearing in Yoon’s impeachment trial. In his closing statement, Yoon defends his decisions as lawful and necessary to protect the country.

    Yoon attended eight of the 11 hearings.

    March 9: Yoon walks free after prosecutors decide not to appeal a court decision to cancel his arrest warrant on insurrection charges. He spent 54 days in jail.

    April 4: The Constitutional Court rules to remove Yoon permanently from office.

    April 8: Government sets June 3 as date for snap election.

    April 27: The liberal Democratic Party names its former leader and 2022 presidential candidate Lee Jae-myung as its candidate.

    May 1: Acting president Han steps down to launch presidential run. Finance minister Choi resigns after Democratic Party vows to start impeachment proceedings, leaving education minister Lee Ju-ho as the country’s third acting president since December.

    The Supreme Court reverses an appeals court ruling that cleared Lee of criminal violations of election law, and ordered a new sentence, threatening his eligibility to run for office.

    May 3: Yoon’s former labour minister, Kim Moon-soo, wins the main conservative People Power Party primary. Kim and Han spend the next week clashing over plans for a unity ticket.

    May 7: Appeals court delays ruling on Lee until after election.

    May 11: Han drops presidential bid after PPP confirms Kim as nominee.

    June 3: Election Day

    (Reuters)

  • President Murmu, PM Modi extend greetings to people on Telangana Statehood Day

    Source: Government of India

    Source: Government of India (4)

    President Droupadi Murmu and Prime Minister Narendra Modi on Sunday extended heartfelt greetings to the people of Telangana on the occasion of the state’s Foundation Day, acknowledging its cultural legacy and strides in development.

    In a post on X, President Murmu lauded Telangana’s cultural richness and its progress in economic and technological fields. “Warm greetings to the people of Telangana on Statehood Day! This young State has a rich cultural heritage and a vibrant modern ecosystem of economic and technological development. I wish that the people of Telangana march ahead on the path of progress and prosperity,” she said.

    Prime Minister Modi also conveyed his best wishes on the platform, applauding Telangana’s role in India’s development. “Greetings to the wonderful people of Telangana on their Statehood Day. The state is known for making innumerable contributions to national progress. Over the last decade, the NDA Government has undertaken many measures to boost ‘Ease of Living’ for the people of the state. May the people of the state be blessed with success and prosperity,” said in a post on X.

    Union Home Minister Amit Shah and Union Minister J.P. Nadda also marked the occasion with messages honouring the state’s cultural identity and aspirations for growth.

    “On Telangana Statehood Day, warm greetings to our brothers and sisters of the state. With its rich culture, heritage, and hardworking people, Telangana shines brightly on India’s ethno-cultural map. May the state reach new heights of prosperity,” Amit Shah posted on X.

    J.P. Nadda noted the vibrancy of Telangana’s festivals and the warmth of its people. “On Telangana Statehood Day, I extend my heartfelt greetings to all the brothers and sisters of this beautiful state. Telangana stands out for its unique culture, vibrant festivals and above all, the warmth and kindness of its people. May the state and its people continue to progress with prosperity and happiness,” he said.

    Telangana, India’s youngest state, was formed on June 2, 2014, after a prolonged movement demanding a separate state to ensure better governance and development. The state was officially carved out from Andhra Pradesh as the 29th state of India.

    -IANS

     

  • Russia and Ukraine step up the war on eve of peace talks

    Source: Government of India

    Source: Government of India (4)

    On the eve of peace talks, Ukraine and Russia sharply ramped up the war with one of the biggest drone battles of their conflict, a Russian highway bridge blown up over a passenger train and an ambitious attack on nuclear-capable bombers deep in Siberia.

    After days of uncertainty over whether Ukraine would even attend, President Volodymyr Zelenskiy said Defence Minister Rustem Umerov would meet Russian officials at the second round of direct peace talks in Istanbul on Monday.

    The first round of the talks more than a week ago yielded the biggest prisoner exchange of the war – but no sense of any consensus on how to halt the fighting.

    Amid talk of peace, though, there was much war.

    At least seven people were killed and 69 injured when a highway bridge in Russia’s Bryansk region, neighbouring Ukraine, was blown up over a passenger train heading to Moscow with 388 people on board. No one has claimed responsibility.

    Ukraine attacked Russian nuclear-capable long-range bombers at a military base deep in Siberia on Sunday, a Ukrainian intelligence official said, the first such attack so far from the front lines more than 4,300 km (2,670 miles) away.

    Ukraine’s domestic intelligence service, the SBU, acknowledged it carried out the attack, codenamed “Operation Spider’s Web,” planned for more than a year and a half.

    The intelligence official said the operation involved hiding explosive-laden drones inside the roofs of wooden sheds and loading them onto trucks that were driven to the perimeter of the air bases.

    A total of 41 Russian warplanes were hit, the official said. The SBU estimated the damage at $7 billion and said Russia had lost 34% of its strategic cruise missile carriers at its main airfields.

    Zelenskiy expressed delight at the “absolutely brilliant outcome,” and noted 117 drones had been used in the attack.

    “And an outcome produced by Ukraine independently,” he wrote. “This is our longest-range operation.”

    RUSSIA SAYS AIRCRAFT FIRES PUT OUT

    A Ukrainian government official told Reuters that Ukraine did not notify the United States of the attack in advance.

    Russia’s Defence Ministry acknowledged on the Telegram messaging app that Ukraine had launched drone strikes against Russian military airfields across five regions on Sunday.

    Air attacks were repelled in all but two regions — Murmansk in the far north and Irkutsk in Siberia – where “the launch of FPV drones from an area in close proximity to airfields resulted in several aircraft catching fire.”

    The fires were extinguished without casualties. Some individuals involved in the attacks had been detained, the ministry said.

    Russia launched 472 drones at Ukraine overnight, Ukraine’s air force said, the highest nightly total of the war. Russia had also launched seven missiles, the air force said.

    Russia’s military reported new drone attacks into Sunday evening, listing 53 attacks intercepted in a period of less than two hours, including 34 over the border Kursk region. Debris from destroyed drones triggered residential fires.

    Russia said it had advanced deeper into the Sumy region of Ukraine, and open source pro-Ukrainian maps showed Russia took 450 square km of Ukrainian land in May, its fastest monthly advance in at least six months.

    U.S. President Donald Trump has demanded Russia and Ukraine make peace and he has threatened to walk away if they do not – potentially pushing responsibility for supporting Ukraine onto the shoulders of European powers – which have far less cash and much smaller stocks of weapons than the United States.

    According to Trump envoy Keith Kellogg, the two sides will in Turkey present their respective documents outlining their ideas for peace terms, though it is clear that after three years of intense war, Moscow and Kyiv remain far apart.

    Russia’s lead negotiator, presidential adviser Vladimir Medinsky, was quoted by TASS news agency as saying the Russian side had received a memorandum from Ukraine on a settlement.

    Zelenskiy has complained for days that Russia had failed to provide a memorandum with its proposals.

    Russian Foreign Minister Sergei Lavrov spoke to U.S. Secretary of State Marco Rubio on prospects for a settlement and the forthcoming talks in Turkey, Lavrov’s ministry said.

    Putin ordered tens of thousands of troops to invade Ukraine in February 2022 after eight years of fighting in eastern Ukraine between Russian-backed separatists and Ukrainian troops. The United States says over 1.2 million people have been killed and injured in the war since 2022.

    In June last year, Putin set out opening terms for an immediate end to the war: Ukraine must drop its NATO ambitions and withdraw its troops from the territory of four Ukrainian regions claimed and mostly controlled by Russia.

    According to a copy of the Ukrainian document seen by Reuters with a proposed roadmap for a lasting peace, there will be no restrictions on Ukraine’s military strength after a deal is struck. Nor will there be international recognition of Russian sovereignty over parts of Ukraine taken by Moscow’s forces, and reparations for Ukraine.

    The document also stated that the current front line will be the starting point for negotiations about territory.

    (Reuters)

  • PM Modi to attend IATA’s 81st annual general meeting in New Delhi

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi will participate in the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) on Monday at around 5 PM at Bharat Mandapam in New Delhi. The Prime Minister will also address the global gathering on the occasion.

    The IATA AGM and World Air Transport Summit (WATS) is being held in India after a gap of 42 years — the last such meeting took place in 1983. This year’s edition, scheduled from 1 to 3 June, brings together over 1,600 participants including global aviation industry leaders, senior government officials, and international media representatives.

    The Prime Minister’s participation underscores India’s commitment to building world-class air infrastructure and improving connectivity as part of its broader goal of economic growth and inclusive development.

    The summit will deliberate on key challenges and opportunities in the aviation sector, including the economics of the airline industry, air connectivity, energy security, sustainable aviation fuel production, financing decarbonisation, and innovation in aviation technology.

  • Man attacks Colorado crowd with firebombs, 6 people injured

    Source: Government of India

    Source: Government of India (4)

    Six people were injured on Sunday when a 45-year-old man yelled “Free Palestine” and threw incendiary devices into a crowd in Boulder, Colorado where a demonstration to remember the Israeli hostages who remain in Gaza was taking place, authorities said.

    Six victims aged between 67 and 88 years old were transported to hospitals, the FBI special agent in charge of the Denver Field Office, Mark Michalek, said. At least one of them was in a critical condition, authorities said.

    “As a result of these preliminary facts, it is clear that this is a targeted act of violence and the FBI is investigating this as an act of terrorism,” Michalek said.

    Michalek named the suspect as Mohamed Soliman, who was hospitalized shortly after the attack. 

    FBI Director Kash Patel also described the incident as a “targeted terror attack,” and Colorado Attorney General Phil Weiser said it appeared to be “a hate crime given the group that was targeted.” Boulder Police Chief Stephen Redfearn said he did not believe anyone else was involved.

    “We’re fairly confident we have the lone suspect in custody,” he said.

    The attack took place on the Pearl Street Mall, a popular pedestrian shopping district in the shadow of the University of Colorado, during an event organized by Run for Their Lives, an organization devoted to drawing attention to the hostages seized in the aftermath of Hamas’s 2023 attack on Israel.

    In a statement, the group said the walks have been held every week since then for the hostages, “without any violent incidents until today.”

    The incident comes amid heightened tensions in the United States over Israel’s war in Gaza, which has spurred both an increase in antisemitic hate crime as well as moves by conservative supporters of Israel led by President Donald Trump to brand pro-Palestinian protests as antisemitic. His administration has detained protesters of the war without charge and cut off funding to elite U.S. universities that have permitted such demonstrations.

    In a post to X, a social network, Trump’s deputy chief of staff Stephen Miller said Soliman had overstayed his visa and been allowed to work by the previous administration. He said it was further evidence of the need to “fully reverse” what he described as “suicidal migration.”

    When asked about Soliman, the Department of Homeland Security said more information would be provided as it became available.

    VICTIMS BURNED

    Brooke Coffman, a 19-year-old at the University of Colorado who witnessed the Boulder incident, said she saw four women lying or sitting on the ground with burns on their legs. One of them appeared to have been badly burned on most of her body and had been wrapped in a flag by someone, she said.

    She described seeing a man whom she presumed to be the attacker standing in the courtyard shirtless, holding a glass bottle of clear liquid and shouting.

    “Everybody is yelling, ‘get water, get water,’” Coffman said.

    Senate Minority Leader Chuck Schumer, a prominent Jewish Democrat, said it was an antisemitic attack.

    “This is horrifying, and this cannot continue. We must stand up to antisemitism,” he said on X.

    The attack follows last month’s arrest of a Chicago-born man in the fatal shooting of two Israeli embassy employees in Washington, D.C. Someone opened fire on a group of people leaving an event hosted by the American Jewish Committee, an advocacy group that fights antisemitism and supports Israel.

    The shooting fueled polarization in the United States over the war in Gaza between supporters of Israel and pro-Palestinian demonstrators.

    Colorado Governor Jared Polis posted on social media that it was “unfathomable that the Jewish community is facing another terror attack here in Boulder.”

    (Reuters)

  • Paris cheers its ‘sublime’ champions PSG

    Source: Government of India

    Source: Government of India (4)

    Paris St Germain held victory celebrations on the Champs Elysees and at their Parc des Princes stadium for thousands of cheering supporters on Sunday after crushing Inter Milan 5-0 to win their first Champions League title.

    Dressed in the club’s blue-and-red colours, fans gathered in the French capital’s most famous avenue to welcome their Parisian heroes, just landed from Munich.

    The players showed off the coveted trophy from their open top bus and joined in the crowd’s singing.

    “We are the champions!”, “Ici c’est Paris!” (Paris is here) and other chants reverberated throughout the avenue.

    The squad then headed for the nearby Elysee palace where they were greeted by President Emmanuel Macron.

    “You won this Champions League, and you did it in a sublime, phenomenal way. You are the champions, and you put Paris at the top of Europe. And it was magnificent,” Macron said.

    “We all felt the excitement. There were 11 of you on the pitch, but there was clearly a 12th man – the French public … regardless of traditional allegiances.”

    PSG’s young team achieved what the likes of Lionel Messi, Neymar and Kylian Mbappe could not do in their colours, becoming only the second French side to win the trophy after Olympique de Marseille in 1993.

    “It’s unbelievable,” said one fan Leo Rogue, 22, standing in the middle of the packed crowd in a vintage PSG top. “I don’t have the words … We’ve been waiting for this for a long time.”

    SECURITY LIMIT

    Police capped numbers at 100,000 for security reasons.

    Some youngsters climbed on scaffolding or news stands to better take in the moment.

    Jamel, 55, was disappointed to be stopped near an entrance to the parade as numbers had reached a maximum, but was not letting that spoil his celebration.

    “Yesterday I partied and today I’m partying,” he said.

    Wild celebrations erupted across the French capital and beyond on Saturday night, although skirmishes with police later threatened to spoil the atmosphere.

    The club condemned violence on X. “Paris St Germain calls on everyone to show responsibility and respect, for that historic win to remain a moment of pride shared by all,” it said.

    At the Parc des Princes stadium on Sunday evening, police deployed tear gas when dozens of ticketless fans sought to enter the security perimeter.

    Inside the arena, after a show that featured DJ Snake, the players came to greet the crowd with man-of-the-final Desire Doue, Ousmane Dembele and coach Luis Enrique the most cheered, before club president Nasser al Khelaifi and captain Mqrauinhos showed the trophy to the fans.

    After the stadium emptied out, supporters threw fireworks at police, who responded with tear gas.

    (Reuters)

  • Iyer’s heroic knock guides Punjab past Mumbai to book IPL final with Bengaluru

    Source: Government of India

    Source: Government of India (4)

    Punjab Kings batter Shreyas Iyer played a captain’s knock as the Indian Premier League (IPL) table toppers beat Mumbai Indians by five wickets in the second qualifier on Sunday to set up a tantalising final with Royal Challengers Bengaluru.

    Punjab had won the toss and opted to field before the rain came down and delayed the start of the game by more than two hours. But they did not lose any overs, with the match eventually finishing at well past 1:30 a.m.

    Chasing a target of 204 for victory, Iyer smashed an unbeaten 87 off 41 balls with eight clean sixes as Punjab returned to the final for the first time in 11 years.

    The result means Tuesday’s final at the same venue will crown a new IPL champion, with Bengaluru also falling short in the summit clash in 2009, 2011 and 2016.

    Punjab lost to Bengaluru in the first playoff match on Thursday, but they will now have another shot at winning their maiden trophy.

    “I love big occasions. I always tell my team, the bigger the occasion, the calmer you are,” said Iyer, who captained Kolkata to the title last year before moving to Punjab.

    “We shouldn’t think about where we went wrong (against Bengaluru) because throughout the season we’ve been playing amazing… One match cannot define us as a team.”

    GOOD START

    Punjab had a good start when Rohit Sharma fell cheaply in the third over but Jonny Bairstow (38) and Tilak Varma (44) went after the bowling before Suryakumar Yadav smashed three sixes and four boundaries in his quick-fire knock of 44.

    A mammoth total looked on the cards but Yuzvendra Chahal dismissed Suryakumar while Azmatullah Omarzai picked up two wickets, including skipper Hardik Pandya, to restrict Mumbai to 203-6.

    In response, Punjab scored 64 runs in the powerplay with Josh Inglis (38) leading the charge before Iyer and Nehal Wadhera stitched together an 84-run partnership for the fourth wicket to frustrate Mumbai.

    While Iyer effortlessly accelerated the run rate with three consecutive sixes in an expensive Reece Topley over, Wadhera rode his luck with some loose shots that found the boundary to put the pressure back on Mumbai.

    Wadhera fell for 48 but Iyer notched up his half-century in 27 balls before denying Jasprit Bumrah a wicket with a fine boundary off a yorker.

    Iyer then welcomed Ashwani Kumar back into the attack with a high and handsome six before clearing the ropes three more times as the 19th over went for 26 runs and Punjab won the game with an over to spare.

    “The way he batted, he took his chances. Some of the shots he played were really outstanding,” a bitterly disappointed Hardik said.

    (Reuters)

  • Swiatek digs herself out of deep hole, Alcaraz powers on at French Open

    Source: Government of India

    Source: Government of India (4)

    Four-time champion Iga Swiatek clawed her way back from the brink to reach the French Open quarter-finals by defeating her claycourt nemesis Elena Rybakina while men’s title holder Carlos Alcaraz also went through after a tough workout on Sunday.

    Fifth seed Swiatek looked out of sorts as she trailed 6-1 2-0 on Court Philippe Chatrier, leaving the crowd stunned. But Swiatek found her groove and some grit to prevail 1-6 6-3 7-5.

    Her final opponent from last year, Jasmine Paolini, was on the wrong end of another last-16 clash against 13th seed Elina Svitolina of Ukraine, the Italian wasting three match points in a 4-6 7-6(6) 6-1 defeat.

    Svitolina will provide the next test for Swiatek, who continues her quest to become the first female player since tennis turned professional to claim the singles’ title four times in a row at Roland Garros.

    The only women to win the singles at Roland Garros in four straight years were Jeanne Matthey from 1909-12 and Suzanne Lenglen from 1920-23 when only French players competed.

    Since tennis turned professional in 1968, Swiatek is one of three women with Monica Seles and Justine Henin to enjoy three consecutive triumphs in Paris and on Sunday it looked like her quest for a fourth straight was going to crash to a halt.

    The 12th-seeded Rybakina made a bullet start, putting Swiatek on the back foot with some powerful baseline play and racing to a 5-0 lead, threatening to inflict on the former world number one her first bagel at a Grand Slam.

    “It was as if I was playing (men’s world number one and heavy hitter) Jannik Sinner,” Swiatek joked.

    DOUBLE FAULTS

    If there was any sign that Swiatek was rattled, it was her three double faults at 2-2 in the second set.

    The fifth seed still held though and it proved to be a turning point as she went on to break to love and move 4-2 up, bagging 10 consecutive points in the process to send the clash into a decider.

    At 4-4, with Rybakina serving at 15-40, the Kazakh appeared to have double-faulted on break point.

    Both players were walking towards their benches when chair umpire Kader Nouni’s deep voice overruled the line judge’s call.

    The reversal offered Rybakina an unexpected lifeline as the air filled with electricity.

    Swiatek later saved a game point with a blistering forehand winner, but it was Rybakina who ultimately secured the crucial hold, shifting the weight of expectation squarely onto her opponent’s shoulders.

    Swiatek cooled down and held, then broke and finished it off on the second match point before unleashing a huge scream and bumping her chest in a mix of released anger and relief.

    “In the first set, with her playing like that I felt I did not have a single chance,” said Swiatek, who had lost to Rybakina in their two previous encounters on clay.

    “Using the top spin was the plan from the beginning but I did not feel she gave me the space to do that. But I’m happy that I was patient enough to stay in the game and use any opportunity that came to me.”

    Elsewhere in the top half of the draw, Olympic champion Zheng Qinwen battled on, the Chinese eighth seed overcoming Russia’s Liudmila Samsonova 7-6(5) 1-6 6-3, with a potential clash against world number one Aryna Sabalenka looming.

    In the men’s draw, Carlos Alcaraz etched his name deeper in clay by overcoming American Ben Shelton 7-6(8) 6-3 4-6 6-4 for his 100th tour-level win on the surface to reach the quarter-finals for a fourth successive year.

    Victory was far from simple and Alcaraz said he fought against himself in the mind.

    “I just tried to calm myself. In some moments I was mad, I was angry with myself. Talking not really good things but I am happy to not let those thoughts play against me,” he added.

    “I tried to calm myself down and I tried to keep going.”

    Up next for him is world number 12 Tommy Paul, who blitzed Alexei Popyrin 6-3 6-3 6-3 to become the first American male player to reach the French Open quarter-finals in 22 years.

    Paul matched Andre Agassi’s run from 2003 after Americans on Saturday equalled a 40-year-old record with five women and three men reaching round four of the clay court Grand Slam.

    Another American in the last eight is Frances Tiafoe, who beat Germany’s Daniel Altmaier but will find himself with a mountain to climb in the next round as he takes on Italian craftsman Lorenzo Musetti.

    World number seven Musetti beat Denmark’s Holger Rune 7-5 3-6 6-3 6-2, showing his impressive palette of claycourt game. He has reached at least the semi-finals of all three Masters events on the slow surface this season.

    Sabalenka battled past 16th-seed Amanda Anisimova 7-5 6-3 to become the first player to reach the quarter-finals in 10 straight Grand Slams since American Serena Williams between 2014-17.

    The Belarusian squandered a total of seven matchpoints before seeing off Anisimova to set up a clash with Zheng.

    (Reuters)

  • Integral Humanism is not a complex philosophy; it is the essence of Indian thought: Shivraj Singh Chouhan

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Agriculture and Farmers Welfare Shivraj Singh Chouhan on Sunday addressed a National Memorial Symposium at the NDMC Convention Centre in New Delhi, commemorating the 60th anniversary of Pandit Deendayal Upadhyaya’s philosophy of ‘Integral Humanism.’

    The symposium brought together scholars, policymakers, and thought leaders to reflect on the relevance of this philosophy in contemporary India.

    Addressing the gathering, the Union Minister paid homage to Pandit Deendayal Upadhyaya and underlined the global relevance of his thought. “I bow at the feet of revered Pandit Deendayal Upadhyaya Ji. I say this with complete conviction: the solutions to the problems the world faces today lie in the philosophy of Integral Humanism. It is not a complex philosophy; rather, it is the essence of Indian thought,” he said.

    Explaining the roots of the philosophy, Chouhan noted that Integral Humanism was Pandit Deendayal Ji’s response to Western political thought that had emerged post-monarchy under ideals such as liberty, equality, and fraternity. He said that Pandit Deendayal urged India not to imitate the West blindly, but to build its society on its own foundational values.

    Speaking about agriculture, the Minister said farming is the backbone of India’s economy. “I am not just the Agriculture Minister; I live the term ‘agriculture’. Farming and farmers run in my veins,” he added.

    Elaborating on different forms of human fulfillment, the Minister likened the joy of intellectual discovery to Newton’s experience with gravity and emphasized the balanced role of wealth in life. He said that Pandit Deendayal Upadhyaya believed in the necessity of material resources for a dignified life but warned against making wealth an overriding pursuit.

    Highlighting the philosophy’s environmental ethos, Chouhan said the principle of ‘single consciousness’ applies not just to humans, but to all of nature. “The Earth is not only for humans; all living beings have an equal right to it,” he said. As part of this thought, he urged people to join the ‘Ek Ped Ma Ke Naam’ (One Tree in Mother’s Name) plantation campaign to preserve nature in a sacred way.

    The Minister also pointed to a decline in rural poverty and rising living standards as indicators of positive transformation. He emphasized the government’s commitment to women’s empowerment, mentioning the Lakhpati Didi Yojana as a significant step towards gender equity. “If we leave half of our population behind, the country can never progress,” he stated, adding that this is the land of Gayatri, Sita, Durga, Lakshmi, and Saraswati.

    Chouhan also announced that two new paddy varieties have recently been developed. These varieties are expected to boost yield by 30%, use 20% less water, and mature 20 days earlier, thereby increasing productivity and sustainability.

  • World Champion D Gukesh stuns former No. 1 Magnus Carlsen in Norway Chess 2025

    Source: Government of India

    Source: Government of India (4)

    World Champion Dommaraju Gukesh pulled off a stunning victory against former World No. 1 Magnus Carlsen in Round 6 of the ongoing Norway Chess 2025 tournament, turning the game around from a losing position on Sunday.

    This marked Gukesh’s first-ever classical win over the Norwegian grandmaster. The 19-year-old also became the second Indian player to beat Carlsen in the history of the competition after Rameshbabu Praggnanandhaa.

    Carlsen had an upper hand over Gukesh for most of the time in the match, but in the end, he couldn’t control his nerves, and the teenager turned the tables around and went on to win the match.

    With this win, D Gukesh jumped to third spot in the Norway Chess 2025 points table with 8.5 points, and now he is just one point behind Carlsen and American Fabiano Caruana.

    Earlier on May 27, the marquee clash of Round One at Norway Chess 2025 lived up to expectations as Magnus Carlsen launched a classic king hunt to defeat reigning World Champion D Gukesh in a thrilling encounter.
    This was their first classical match since Gukesh won the world title, and it also marked Carlsen’s return to individual classical chess after nearly a year.

    Reacting to the upset victory, Gukesh’s coach, Grandmaster Vishnu Prasanna, praised the teenager’s resilience and fighting spirit.

    “We have to give a lot of credit to Gukesh for his stubbornness and for his resourcefulness because I think he was aware that he was dead lost for so long, yet he kept kicking, he kept kicking, and the time went lower, the more chances he had to actually do something with the position. I don’t think his intention was to win that, but yeah, I’m sure he is happy,” Vishnu Prasanna said.

    The win has added further excitement to the tournament, with the race for the top spot tightening as it enters its final rounds.

    (ANI)

     

  • “Will negotiate a fair balance,” Piyush Goyal optimistic of wrapping up FTA with EU by year end

    Source: Government of India

    Source: Government of India (4)

    Commerce and Industry Minister Piyush Goyal expressed optimism that India could finalise its Free Trade Agreement (FTA) with the European Union (EU) ahead of the year-end deadline, citing minimal divergences between the two economic blocs.

    Goyal emphasised the complementary nature of the Indian and European economies. “There are not too many issues where we have divergence of opinion. We have both complementary economies,” he stated. “In most cases, what is of offensive interest to India does not hurt the European economy. And likewise, goods and services that Europe would like to provide to India only support our growth story.”

    The minister acknowledged that certain sensitive areas require careful negotiation on both sides. “Obviously, in any trading relationship, there are certain sensitive issues on both sides which we have to resolve amicably in the interest of both the European Union and India,” Goyal noted.

    India has positioned itself strongly on key issues concerning the EU, particularly regarding gender equality and sustainability. “We are proud of our sisters and our women and the fantastic work they have done and continue to do,” Goyal said. “Therefore, if you have a subject like gender, India is on the front foot. When it comes to subjects like sustainability, India is right at the forefront.”

    Both sides have raised specific concerns that must be addressed in the negotiations. “We have certain concerns about European Union practices and regulations. Likewise, they have certain areas of things they would like to discuss,” the minister explained.

    Goyal expressed confidence that these issues could be resolved through fair negotiation. “Some issues are on the table and we will negotiate a fair balance and free trade agreement,” he said. “There would be many issues on both sides which will come up for discussion so that we can come up with a robust agreement that will support market access and promote easier trade.”

    The minister clarified that free trade agreements operate independently of domestic business reforms. “Free trade agreements stand on their footing. They have no relationship to our internal domestic effort to make it attractive to do investments and businesses,” he explained.

    Instead, FTAs focus on market liberalisation that benefits both economies. “Free trade agreements are more towards opening markets on both sides, which leads to greater competitiveness, improved productivity and efficiency in all processes,” Goyal said.

    The agreement is expected to create broader economic opportunities across multiple sectors. “It opens the doors to larger engagement, be it in goods, services, investments, all areas related to the economy,” the minister noted. “All of this benefits 1.4 billion consumers.”

    The India-EU FTA negotiations represent a significant step in strengthening economic ties between India and one of the world’s largest trading blocs. The agreement aims to reduce trade barriers, enhance market access, and create new opportunities for businesses on both sides.

    With both economies showing complementary strengths and shared commitments to sustainability and gender equality, the successful conclusion of the FTA could mark a new chapter in India-Europe economic cooperation, potentially benefiting millions of consumers and businesses across both regions. (ANI)

  • Nifty, Sensex open lower amid negative global cues

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened on a weak note on Monday, tracking negative cues from global markets. The benchmark BSE Sensex fell by 676.86 points or 0.83 per cent to 80,774.15 in early trade, while the NSE Nifty declined by 181.15 points or 0.74 per cent to 24,568.25.

    Selling pressure was visible in broader market indices as well, with the Nifty Midcap 100 index down 104 points or 0.18 per cent at 57,315 and the Nifty Smallcap 100 index falling 69 points or 0.39 per cent to 17,813.

    In the Sensex pack, HUL, Adani Ports, IndusInd Bank, Nestle, SBI, Eternal (Zomato), Asian Paints and Power Grid were among the few gainers. On the losing side were major players including HDFC Bank, HCL Tech, Reliance Industries, Bajaj Finance, Infosys, Tata Steel and Tech Mahindra.

    Analysts suggest that the current market structure supports a continuation of the ongoing consolidation phase. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that recent announcements by former US President Donald Trump, particularly the imposition of 50 per cent tariffs on steel and aluminium, point towards a turbulent global trade environment. He noted that such developments could weigh on investor sentiment in the near term.

    Despite global uncertainties, domestic fundamentals remain strong. India’s GDP growth for the fourth quarter came in at 7.4 per cent, surpassing expectations and offering optimism for continued economic expansion. Analysts also highlighted positive trends in consumption and capital expenditure, along with low inflation and the likelihood of an accommodative monetary policy, as encouraging signs for FY26.

    Sectorally, the market presented a mixed picture. IT, financial services, metal, media, services and commodities saw losses, while FMCG, PSU banks, real estate and energy stocks witnessed buying interest.

    Asian markets traded mostly in the red, with Tokyo, Hong Kong, Jakarta and Seoul posting losses. The Shanghai market was shut for a public holiday. On Wall Street, the Dow Jones closed 0.31 per cent higher on Friday, while the Nasdaq dipped 0.32 per cent, reflecting mixed investor sentiment in the US.

    Market experts believe that while the long-term outlook remains positive, a short-term phase of consolidation is currently underway as investors assess global developments and await further clarity on domestic policy trends.

    -IANS

  • MIL-OSI Economics: Money Market Operations as on May 30, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 15,924.84 5.87 5.00-6.20
         I. Call Money 1,254.14 5.55 5.25-5.90
         II. Triparty Repo 13,228.50 5.90 5.00-6.10
         III. Market Repo 63.00 5.25 5.25-5.25
         IV. Repo in Corporate Bond 1,379.20 5.93 5.90-6.20
    B. Term Segment      
         I. Notice Money** 15,580.47 5.85 4.85-6.00
         II. Term Money@@ 977.00 5.75-6.15
         III. Triparty Repo 4,48,258.90 5.84 5.69-6.20
         IV. Market Repo 1,93,830.04 5.74 1.90-6.10
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 30/05/2025 3 Mon, 02/06/2025 8,721.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Fri, 30/05/2025 1 Sat, 31/05/2025 1,381.00 6.25
      Fri, 30/05/2025 2 Sun, 01/06/2025 0.00 6.25
      Fri, 30/05/2025 3 Mon, 02/06/2025 159.00 6.25
    4. SDFΔ# Fri, 30/05/2025 1 Sat, 31/05/2025 2,23,572.00 5.75
      Fri, 30/05/2025 2 Sun, 01/06/2025 0.00 5.75
      Fri, 30/05/2025 3 Mon, 02/06/2025 5,526.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,18,837.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,594.62  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,594.62  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,10,242.38  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 30, 2025 9,63,159.59  
         (ii) Average daily cash reserve requirement for the fortnight ending May 30, 2025 9,48,817.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 30, 2025 8,721.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 16, 2025 3,48,763.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/450

    MIL OSI Economics

  • MIL-OSI USA: Cole Congratulates 2025 OK-04 Congressional Art Competition Winners

    Source: United States House of Representatives – Congressman Tom Cole (OK-04)

    FOR IMMEDIATE RELEASE | CONTACTOlivia Porcaro 202-225-6165

    Oklahoma – Today, Congressman Tom Cole (OK-04) announced the winners of the 2025 Congressional Art Competition for Oklahoma’s Fourth District:

    Lillian Dai of Norman, Oklahoma has been named the first-place winner. Dai attends Norman North High School and studies art under her teacher, Sheila Hunter. For the Congressional Art Competition, Dai submitted a piece titled “Outside World,” which is a colored pencil drawing of a girl troubled by her mundane responsibilities and reminded of her own exhaustion merely by the things in her room. The drawing will be brought to Washington, D.C. and hang in the United States Capitol Building for an entire year.

    “I am thrilled to congratulate Lillian on being selected as the Fourth District’s overall winner for the 2025 Congressional Art Competition,” said Congressman Cole. “Her colored pencil drawing is unique, intriguing, and very colorful. It is clear that Lillian is very talented, and I am sure she has a bright future in the arts ahead of her.”

    When asked about her artwork, Dai said, “My artwork for the Congressional Art Competition is inspired by the common emotions and feelings that both I and my peers at high school typically feel as we take on harder classes and have increased responsibilities. It is not uncommon for us to spend late nights working. Exhaustion mingles with imagination, as we dream of a new environment or situation that will allow us a break. The indigo shadows envelop her form, reminding her of the work she needs to put in to accomplish her dreams, but for a moment the illumination of the fantastical scenery in her cup gives her the chance to daydream the world outside her room.”

    “Lillian has made significant strides in the art world during her high school career. This year, she garnered notable recognition by winning two silver keys, a gold key, and a gold medal for her exceptional drawings in the Scholastic Art and Writing competition. In addition to her recent achievements, Lillian secured second place in last year’s Congressional Art competition and is proud to represent Oklahoma’s 4th district this year. As her mentor, I have thoroughly enjoyed assisting Lillian in preparing for various art competitions and exhibitions. She shows a remarkable understanding of composition and color; her colored pencil pieces take many dedicated hours to complete. I eagerly anticipate her continued growth as an artist in her upcoming senior year,” said Hunter, Norman North High School Art Teacher.

    In addition to naming Lillian the winner, two runner-up winners were named through a “People’s Choice” contest online, which was conducted through Congressman Cole’s social media channels and website with votes collected over the course of a week. Out of the 1,112 votes cast, artwork by Katelyn Estes and Emily Shields received the most. Both students’ artwork will be displayed in Congressman Cole’s Oklahoma office for the next year.

    “Every year, so many accomplished high school students from across the Fourth District submit beautiful pieces of artwork to my office for consideration for the Congressional Art Competition. While only one piece can make its way to D.C., I think it is only right to recognize the other gifted artists by holding the People’s Choice competition. Congratulations to Katelyn and Emily for being selected as this year’s second and third-place winners. I am excited to have their beautiful art hanging in my Oklahoma office for the next year,” said Congressman Cole.

    Katelyn Estes, the second-place winner, resides in Stratford, Oklahoma and attends Stratford High School, where she studies art under her teacher, Shea Meyer. For the contest, she submitted a piece titled “All Sass, All Heart,” which is a pencil drawing of a barrel horse turning around barrel with the rider partly visible.

    “This drawing was inspired by my barrel horse, Jaz. She gives everything she has every time we race, and I wanted to reflect that in this piece – along with the bold, sassy personality that makes her who she is. That’s why I titled it All Sass, All Heart – Jaz,” said Estes.

    “Katelyn is a great student. She works hard and takes any advice that I give to her and applies it to her work. She not only works in class, but she works on projects at home, especially when she is trying to get something done for a show or contest. I wish I had a class full of students like her. I am very proud of all she has accomplished so far, and I look forward to what she will do in the future,” said Meyer, Stratford High School Art Teacher.

    Emily Shields of Purcell, Oklahoma is the third-place winner. She attends Purcell High School, where she studies art under her teacher, Jon Corea. For the Congressional Art Competition, Shields submitted artwork titled “Before the Storm,” which is an acrylic painting of a wild stallion observing the “calm before the storm” sunset in the Wichita Mountains while standing in a valley of Indian Paintbrushes.

    When asked about her artwork, Shields said, “I was inspired by all of the incredible western paintings I see with the massive, golden storm clouds on the horizon. Those paintings always invoke such a sense of foreboding in me while also being breathtaking. I also wanted to include a homage to Oklahoma and my mother who loves Indian Paintbrushes. Overall, this painting was one of the first I have encouraged myself to see through to the end, and I am pleasantly satisfied with the results.”

    “Emily is a remarkably talented and driven young artist. Her dedication to her craft is evident in the intense focus she brings to each piece she creates. Whether she’s working with bold colors, intricate details, or exploring new techniques, Emily consistently produces work that is thoughtful, expressive, and technically strong. Her creativity and commitment to improvement have always impressed me, and I continue to be amazed by the quality and originality of her artwork,” said Corea, Purcell High School Art Teacher.

    For information on the Congressional Art Competition, click here.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Congressman Meuser Celebrates President Trump’s Landmark Action to Keep U.S. Steel in America, Delivering 70,000 Jobs and a $14 Billion Boost to the Economy

    Source: United States House of Representatives – Congressman Dan Meuser (PA-9)

    Washington, D.C. – Congressman Dan Meuser (PA-09) today applauded President Donald J. Trump for successfully negotiating a record investment and record job creation for Pennsylvania and America’s steel industry through a landmark partnership between the United States of America, U.S. Steel, and Nippon Steel.

    The agreement will keep U.S. Steel’s headquarters in Pittsburgh, generate at least 70,000 family-sustaining American jobs, and inject $14 billion into the U.S. economy—the largest steel-sector commitment in Pennsylvania’s history.

    Congressman Meuser’s tireless efforts included meeting repeatedly with Local 2227 Steelworkers to gather shop‑floor priorities; conducting rigorous oversight and vocal opposition when the Biden Administration attempted to block this historic investment; engaging colleagues across Capitol Hill to build bipartisan momentum; conferring directly with Nippon Steel executives to guarantee America‑First terms; coordinating personally with U.S. Steel President & CEO Dave Burritt to arrange high‑level discussions in Washington; and directly with the White House and President Trump—an America‑First blueprint the Dealmaker‑in‑Chief embraced to secure record investment and record jobs for Pennsylvania and the nation.

    “President Trump has reinvigorated American manufacturing. Today he has truly proven himself to be the Man of Steel,” said Congressman Meuser. “Keeping U.S. Steel here at home protects Pennsylvania jobs, fuels a modern manufacturing revival from Pittsburgh to the Mon Valley, and sends an unmistakable message that Made in the USA is back for good. I knew that once President Trump brought his great business acumen to the table, and saw the opportunity for our country, he would secure the best deal possible. With 70,000 new jobs on the way and billions of dollars flowing into our communities, Pennsylvania is ready to lead the steel industry once again. It’s enough to make me become a Steelers fan!”

    Congressman French Hill (AR-02) said, “The merger of Nippon Steel and U.S. Steel will greatly benefit many of our steel-producing states like Pennsylvania, Indiana, Michigan, and my home state of Arkansas. Foreign direct investment is a vote of confidence in our country, and in my view, this deal is an important win for President Trump. I thank my colleague and friend Rep. Dan Meuser for his leadership and commend his longstanding support for this important merger.”

    David B. Burritt, President and CEO, U.S. Steel said, “Congressman Meuser’s support and advocacy over the past year has been invaluable. His leadership on behalf of the Commonwealth of Pennsylvania is deeply appreciated by the U.S. Steel team.”

    Key Highlights of the President’s Announcement

    • U.S. Steel Headquarters to Stay in Pittsburgh – safeguarding legacy jobs and local supply chains.
    • Strategic Partnership with Nippon Steel – combining advanced technology with American innovation.
    • 70,000 New, Family-Sustaining Jobs – the largest single-investment jobs surge in Pennsylvania history.
    • $14 Billion Economic Impact – majority of spending and hiring to occur over the next 14 months.
    • Nationwide Manufacturing Revival – benefits extending from Pennsylvania to Arkansas, Minnesota, and Indiana.
    • Strengthened National Security – President Trump’s tariff policies ensure American steel remains the backbone of critical infrastructure and defense production.

    Congressman Meuser hails and will be joining the President’s plan to celebrate the milestone at a rally on Friday, May 30, at the U.S. Steel facility in Pittsburgh, calling it “a fitting tribute to the men and women whose skill and determination will forge the next chapter of American leadership.”

    ###

    MIL OSI USA News

  • MIL-Evening Report: What is populism?

    Source: The Conversation (Au and NZ) – By Benjamin Moffitt, Senior Lecturer in Politics and International Relations, Monash University

    In 2017, in the wake of Brexit and Donald Trump’s first election win, populism was named the “word of the year” by Cambridge University Press.

    Almost a decade later, we might have thought the term’s popularity would have faded.

    But with Trump back in power in the United States, the Reform Party polling very well in the United Kingdom, and Argentinian president Javier Milei wielding his chainsaw at public events, populism is very much still with us.

    But what is populism? Is it a left or right phenomenon? And is it here to stay?

    What is populism?

    Put simply, populism is a political phenomenon that revolves around the central divide between “the people” and “the elite”.

    Although there is agreement on this divide, academics tend to disagree on two things when it comes to populism.

    The first is what kind of phenomenon it is. Is populism an ideology (that is, a belief system)? A strategy? Or is it a kind of performative political style?

    Secondly, experts disagree on whether populism is a threat or corrective to democracy. Some think it can be both.

    Populism: left or right?

    Much of the confusion about populism stems from the fact that it can appear across the ideological spectrum.

    This is because “the people” and “the elite” are flexible terms, and populists can characterise them in very different ways.

    Right-wing populists tend to characterise “the people” in socio-cultural terms, and often combine their populism with nativism.

    Think for instance, of how Trump’s “people” are coded as White Americans.

    Or, how Indian Prime Minister Narendra Modi evokes Hindu nationalism in his definition of “the people”.

    Other prominent right-wing populist leaders include the likes of Viktor Orban of Hungary, Nigel Farage of the United Kingdom, Geert Wilders of the Netherlands, and Australia’s Pauline Hanson.

    Left-wing populists, meanwhile, tend to characterise “the people” in socio-economic terms. They often combine their populism with calls for economic redistribution or shifts in power.

    Examples include Latin American populist leaders like Evo Morales of Bolivia and Hugo Chavez of Venezuela, who sought to bring the poor into their conception of “the people”.

    In the US, Bernie Sanders’ 2016 and 2020 presidential primary campaigns put the working class and people in precarious work at the heart of his “people”.

    Other examples of left-wing populism include the Podemos and Syriza parties in Spain and Greece respectively.

    This also means the way populists tend to define “the elite” is quite different.

    Right-wing populist targets often include:

    • government and policy elites (think of Trump’s “drain the swamp”)
    • cultural elites (Trump’s attacks on media as “fake news”)
    • academics (attacks on the “ivory tower”) and
    • transnational bodies (such as attacks on the United Nations).

    These groups are connected in right-wing populist discourse and purported to be undermining “the people’s” livelihood by abetting increased immigration or the destruction of “traditional values”.

    Left-wing populists tend to target business and power elites, who they see as fleecing “the people” economically and keeping them from expressing their popular power (think of Occupy Wall Street’s divide between the 99% and the 1%).

    Populists also tend to have a suspicion of transnational organisations. But while right-wing populists tend to focus on the likes of the United Nations and World Health Organisation, left-wing populists are more suspicious of business transnationals such as the World Trade Organization or World Economic Forum.

    Is populism here to stay?

    After every major election where a populist leader or party succeeds, there is inevitably talk of a “populist earthquake”, “populist wave” or “populist tsunami”.

    These metaphors suggest populism has come out of nowhere, and is causing a major and unexpected shock to the system.

    But that’s simply not the case.

    If anything, the story of 21st century politics has been one in which populism has become “normalised” and “mainstreamed”.

    Populists are no longer merely “challenger” parties nor minor parties.

    They increasingly are among the top three parties in their respective countries (particularly in Europe), and have won government in places from the US to India to the Netherlands to Italy to Greece.

    This success has seen them steadily viewed as viable and “normal” political players.

    Meanwhile, mainstream parties and leaders have increasingly adopted elements of populists’ discourse, platforms and political styles, as a way to compete with populists.

    This, ironically, has had the effect of legitimising populists in many countries; it makes their policies and discourse look more “acceptable”.

    It’s important to be cynical about any pundit crowing about the “death” of populism – or, on the flipside, the idea it has come out of nowhere.

    Populism is here to stay. Acknowledging that can help us better understand its appeal, which in turn, can provide hints about how to best deal with it.

    Benjamin Moffitt receives or has received funding from the Australian Research Council and the Marianne and Marcus Wallenberg Foundation.

    ref. What is populism? – https://theconversation.com/what-is-populism-249369

    MIL OSI AnalysisEveningReport.nz

  • Study finds common gene variant that doubles dementia risk for men

    Source: Government of India

    Source: Government of India (4)

    Australian researchers have identified a common genetic variant that significantly increases the risk of dementia in men, potentially paving the way for more personalised approaches to prevention and treatment.

    The research team from Curtin University found that a variant of the HFE gene, known as H63D, is carried by approximately one in three people in a single copy and by one in 36 in a double-copy form.

    Published in the journal Neurology, the study revealed that men who carry two copies of the H63D variant are more than twice as likely to develop dementia in their lifetime compared to women with the same genetic profile.

    The study analysed data from 19,114 healthy older adults across Australia and the United States to determine whether mutations in the HFE gene—which regulates iron levels in the body—could influence dementia risk.

    “Having just one copy of this gene variant does not impact a person’s health or increase their risk of dementia. However, having two copies more than doubled the risk of dementia in men, but not in women,” said Professor John Olynyk from the Curtin Medical School.

    While the gene itself cannot be altered, Olynyk said the brain pathways it affects—and which ultimately cause damage leading to dementia—could be targets for future treatment.

    The reason why this variant affects men more than women remains unclear. “Further research is needed to understand why this genetic variant increases dementia risk specifically in males,” Olynyk added.

    The HFE gene is commonly tested in Western countries, including Australia, when screening for hemochromatosis—a disorder where the body absorbs too much iron. The researchers suggest that broader screening, especially for men, could be considered in light of these findings.

    Interestingly, although the HFE gene influences iron regulation, the team found no direct link between elevated iron levels in the blood and dementia risk among men with the variant.

    “This suggests other mechanisms may be involved, possibly including increased inflammation and cell damage in the brain,” Olynyk noted.

    The findings offer promising insights into more targeted dementia prevention strategies and highlight the need for gender-specific research in understanding the genetic underpinnings of neurodegenerative diseases.

    —IANS

  • Mediterranean diet may help relieve IBS symptoms: study

    Source: Government of India

    Source: Government of India (4)

    A team of US researchers has found that the Mediterranean diet may offer symptom relief for individuals suffering from irritable bowel syndrome (IBS), offering a less restrictive alternative to traditional dietary approaches.

    IBS affects an estimated 4–11 per cent of the global population, and many patients prefer managing symptoms through dietary changes rather than medication.

    While the low FODMAP diet is widely recommended and shown to improve symptoms in over half of IBS patients, it is known to be restrictive, costly, and difficult to follow. To address these challenges, researchers at Michigan Medicine have been exploring simpler and more accessible dietary strategies.

    In a new study published in the journal Neurogastroenterology & Motility, participants were randomly assigned to either a Mediterranean diet group or a low FODMAP diet group.

    According to the findings, 73 per cent of those on the Mediterranean diet reported symptom improvement, compared to 81.8 per cent of those on the low FODMAP diet.

    “Restrictive diets like the low FODMAP plan can be hard for patients to adopt due to concerns about nutritional deficiencies, disordered eating, and the time and cost involved,” said Dr. Prashant Singh, gastroenterologist at Michigan Medicine and lead author of the study. “The Mediterranean diet is not an elimination diet and may overcome several of these challenges.”

    Although both diets led to symptom relief, the low FODMAP group reported slightly better outcomes in terms of abdominal pain and overall symptom severity.

    Still, researchers said the Mediterranean diet shows promise as a more sustainable option. “This study adds to a growing body of evidence suggesting that the Mediterranean diet could be a valuable, evidence-based option for managing IBS,” said Dr. William Chey, Chief of Gastroenterology at the University of Michigan.

    Already well-regarded for its cardiovascular, cognitive, and general health benefits, the Mediterranean diet may now hold new potential for IBS patients seeking relief through more balanced and less restrictive eating plans.

    —IANS

  • MIL-OSI USA: Joint Statement from U.S. Senators Graham and Blumenthal on Visit to France

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham
    WASHINGTON – U.S. Senators Lindsey Graham (R-South Carolina) and Richard Blumenthal (D-Connecticut) today made this joint statement on their visit to Paris, France. 
    “Congratulations to Paris Saint-Germain for winning the Champions league and making history. We learned firsthand that the French are good at soccer and have amazing endurance when it comes to celebrating. Also during our time in Paris, we had worthwhile meetings with France’s Ministers of Foreign Affairs and Finance and President Macron’s national security advisor, and a lengthy and productive phone call with President Macron. 
    “As authors of the bone-crushing Russia sanctions bill that now has 82 Senate cosponsors, we assured President Macron and his team that we believe Putin is playing games regarding peace and is actually preparing for a military offensive in the late summer or early fall. 
    “President Macron shares the view that Putin’s behavior demonstrates that he is not interested in peace. Macron is also very determined to unite Europe, working in coordination with the U.S., to change the calculation for Putin. Importantly, we all agreed that if China and India stopped buying cheap Russian oil, Putin’s war machine would grind to a halt. 
    “President Macron supports lowering the price cap for Russian oil, which will hit Putin in the wallet, and working with his team, he committed to try to deliver a forceful message to China and India regarding their financial backing of Putin’s war. It is our hope that Europe will move forward together on lowering the price caps, and join together to send a clear message to China and India that they must change their behavior. 
    “Europe and the United States are holding all the cards and can make meaningful efforts to change China and India’s behavior. 
    “We are also hopeful Europe will up their game regarding the seizure of frozen assets of those who are benefiting off of Putin’s illegal invasion. President Macron was very open to that idea. 
    “We also discussed Russia’s kidnapping of approximately 20,000 Ukrainian children over the course of the war.  President Macron has been a clear, moral voice against this barbaric kidnapping and other Russian atrocities. 
    “France has been terrific in supporting Ukraine. In many ways, this has been President Macron’s finest hour. 
    “We will be pushing the Senate to take action by using the expedited Rule 14 process to bring the sanctions bill to the floor. By the G7 summit, we hope to have sanctions put in place —  in coordination with Europe —  to deliver an unequivocal message to China. 
    “The theme of this engagement was that we appreciate President Trump’s earnest efforts to bring about peace and entice Putin to come to the table. It is our view Putin is not responding in kind, he is not interested in peace and that he plans to continue to dismember Ukraine. We appreciate that President Zelensky will send a delegation to Istanbul, which is a clear sign that he is earnestly seeking peace. Unfortunately, we believe Monday’s meeting will result in another demand by Russia that will be unrealistic. 
    “An end of the war that rewards Putin’s aggression will create a ripple effect around the world, which will be catastrophic in every corner. Bad actors will be emboldened, and those who want to align with the West will be deterred.
    “If we can have a just and honorable peace, it will reset the world in all the right ways. History is watching.”

    MIL OSI USA News

  • MIL-OSI Global: Blind box toys are booming: Are they just child’s play or something more concerning?

    Source: The Conversation – Canada – By Eugene Y. Chan, Associate Professor of Marketing, Toronto Metropolitan University

    Collectible figurines on display at Pop Mart in Ivano-Frankivsk, Ukraine, on April 29, 2025. (Shutterstock)

    If you’ve seen videos of people tearing into tiny toy packages online, or noticed teens obsessing over pastel-coloured figurines at the mall, you’ve probably encountered the global craze for blind box toys.

    These small collectibles — usually figures of cartoonish characters — are sold in sealed packaging that hides which specific item is inside. You might get the one you want, or you might not. That uncertainty is part of the thrill.

    Unlike traditional toys, these figures are marketed as collectibles. Many are part of themed series, with some designs labelled as “rare” or “secret,” appearing in as few as one in every 144 boxes. This sense of exclusivity fuels repeat purchases and has spawned a resale market where rare figures can command hundreds of dollars.

    Popular among children and adults alike, blind box toys have grown into a billion-dollar industry. One of the more popular brands is Pop Mart, a Chinese toy company founded in 2010 known for its collectible designer toys sold in mystery packs.

    Gen Z consumers, in particular, have embraced blind box toys both as a nostalgic pastime and as a form of legitimate collecting. The proliferation of unboxing videos on platforms like TikTok and YouTube, where creators open dozens of blind boxes on camera, has added to their appeal.

    For many fans, these toys offer more than just cuteness: they also provide suspense, surprise and a rush of dopamine with every box opened. But how did this niche product become a global obsession?

    From Tokyo streets to western malls

    The origins of blind box toys trace back to East Asia. Capsule toy vending machines called gashapon originated in Japan in the 1960s. By the 1980s, they had become a cultural fixture. These machines dispense small toys in opaque plastic balls, with customers never quite sure which item they’ll receive.

    In the early 2010s, Chinese companies like Pop Mart adapted the gashapon model for the mainstream retail space. Instead of vending machines, they began selling artist-designed vinyl toys in blind boxes at dedicated boutiques.

    A tourist uses a gashapon machine in Osaka, Japan, in 2024. Gashapon machines are similar to the coin-operated toy vending machines seen outside grocery stores and other retailers in North America.
    (Shutterstock)

    Pop Mart’s success helped transform the blind box into a mainstream commercial phenomenon. Characters like Molly, Skullpanda and Dimoo became instant hits, combining Japanese kawaii esthetics with western pop art sensibilities.

    Pop Mart figures have since developed a cult-like following. Many consumers treat the toys as affordable art objects, displayed in cabinets, on purses or traded online.

    Today, blind box retail stores have expanded globally from Asia to Europe and North America. In October 2024, Pop Mart opened its first store in the Midwestern United States, located on Chicago’s Magnificent Mile at The Shops at North Bridge. The store offers exclusive products and taps into the growing demand for collectibles among American consumers.

    The psychology behind the mystery

    What makes blind box toys so hard to resist?

    Their success relies on a psychological principle known as variable-ratio reinforcement — the same reward pattern that makes slot machines so addictive.

    You never know exactly when you’ll score the item you’re after, but the possibility that the next box might contain it keeps people coming back. This unpredictability keeps people engaged, especially when the potential reward is framed as rare or valuable.

    Cconsumer psychology research also suggests that anticipation plays a major role. Studies show that dopamine, the brain’s reward chemical, spikes not just when we get what we want, but when we anticipate it. The sealed packaging, the suspense of unwrapping and the hope for a rare figure all heighten this effect.

    Sonny Angels on display in a store in Shenzhen, China, in March 2019.
    (Shutterstock)

    For younger collectors, the excitement of “the chase” can foster compulsive buying habits. This effect is amplified by the social influence of watching unboxings online or seeing friends complete their sets, and it becomes a powerful loop.

    Even when buyers don’t get the figure they want, the sunk cost fallacy — the feeling that they’ve already invested too much time or money to walk away — keeps them buying more.

    The hidden costs of blind boxes

    As blind box toys surge in popularity, they have drawn criticism from consumer advocates, psychologists and environmentalists alike.

    Some worry that blind boxes normalize gambling-like behaviours, especially among children. The randomness, excitement and promise of rare rewards closely mirror the mechanisms behind loot boxes in video games — another product that has sparked global concern over youth exposure to gambling psychology.

    Several countries, including Belgium and the Netherlands, have regulated loot boxes under gambling laws. Blind boxes, though currently unregulated, may be next in line for scrutiny.




    Read more:
    Blind bags: how toy makers are making a fortune with child gambling


    There are also environmental concerns. Many blind box toys come in excessive packaging — plastic wraps, foil bags, cardboard boxes — most of which is discarded immediately. The collectibles themselves are often made of non-recyclable plastics, raising questions about sustainability in an era of rising consumer awareness over waste.

    Even among adult fans, some critics question whether blind boxes are designed less to bring joy and more to trigger compulsive consumption. The joy of collecting, they argue, is increasingly overshadowed by the mechanics of engineered desire.

    What should we make of the blind box boom?

    Blind box toys are not inherently harmful, and for many, they’re a source of fun, nostalgia and self-expression. They also offer an accessible way for consumers to engage with designer art in a collectible, miniature form, as many of them are created by individual artists.

    But blind box toys also raise deeper questions about how modern marketing leverages psychological triggers associated with gambling, especially when it comes to children.

    As these toys continue to gain traction in the West, it’s worth asking more critical questions, like: are we buying into mystery or are we being sold obsession and compulsion?

    The blind box trend reflects broader shifts in how products are marketed, how value is perceived and how consumer behaviour is shaped in a digital, attention-driven economy. Understanding the forces at play may be the first step toward more informed — and perhaps more mindful — collecting.

    Eugene Y. Chan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Blind box toys are booming: Are they just child’s play or something more concerning? – https://theconversation.com/blind-box-toys-are-booming-are-they-just-childs-play-or-something-more-concerning-257611

    MIL OSI – Global Reports

  • GIFT Nifty hits record $102.35 billion turnover in May

    Source: Government of India

    Source: Government of India (4)

    GIFT Nifty recorded its highest-ever monthly turnover of $102.35 billion (₹8,75,098 crore) with 2.10 million contracts traded in May, the National Stock Exchange (NSE) announced on Sunday.

    Marking a new milestone, GIFT Nifty continues to establish itself as a benchmark in India’s equity market growth story. This achievement surpasses its previous record of $100.93 billion set in April this year.

    “This milestone reflects the growing global interest and trust in GIFT Nifty as a benchmark for India’s growth story. We are glad to witness the success of GIFT Nifty and express our sincere gratitude to all the participants for their overwhelming support in making GIFT Nifty a successful contract,” the NSE said in a statement.

    Trading volumes on NSE International Exchange (NSE IX) have seen exponential growth since the full-scale launch of GIFT Nifty operations on July 3, 2023. Since then, GIFT Nifty has recorded a cumulative volume of over 43.28 million contracts, with a total cumulative turnover of $1.93 trillion as of May 2025.

    NSE IX, an international multi-asset exchange set up at GIFT City on June 5, 2017, is regulated by the International Financial Services Centres Authority (IFSCA). The exchange holds a dominant market share of over 99 per cent in GIFT IFSC, highlighting its strong leadership position.

    NSE IX offers a diversified portfolio of products, including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, and global stocks.

    Meanwhile, the NSE has achieved another significant milestone—becoming the largest unlisted company in India with over 100,000 shareholders, according to recent industry data.

    For the financial year ending March 31, 2025 (FY25), the NSE reported a 17 per cent year-on-year increase in consolidated total income, reaching ₹19,177 crore.

    —IANS

  • Bridges collapse in 2 Russian regions bordering Ukraine, 7 dead

    Source: Government of India

    Source: Government of India (4)

    Two bridges collapsed in different Russian regions bordering Ukraine, derailing trains and killing at least seven people and injuring dozens, Russian authorities said early on Sunday, while a Russian politician called Kyiv a “terrorist enclave”.

    Reuters could not independently confirm whether the incidents in the neighbouring regions were related. The areas in Russia’s south have been subject to frequent attacks by Ukraine during the war that Russia started with its full-scale invasion more than three years ago.

    Seven people were killed and 69 injured when a highway bridge collapsed onto railway tracks, derailing an approaching train in the Bryansk region late on Saturday, Russian emergency ministry and regional officials said.

    Russia’s Railways initially posted on the Telegram messaging app that the Bryansk bridge collapse was the result of an “illegal interference in the operation of transport”, but the post was later removed.

    Bryansk Governor Alexander Bogomaz said on Telegram that 47 people were hospitalised. Three children were among those injured with one in serious condition, he said.

    The collapse in the Kursk region occurred early on Sunday while a freight train was crossing the bridge, Alexander Khinshtein, acting governor of the region, and Russian Railways said on Telegram.

    “Part of the train fell onto a road underneath the bridge,” Khinshtein said. He added that the locomotive caught fire, which was quickly extinguished. One of the drivers sustained leg injuries, and he and the team operating the train were taken to a local hospital, Khinshtein added.

    He posted a photo of derailed carriages on a damaged bridge over a road.

    Andrei Klishas, a senior member of the Federation Council, Russia’s upper chamber of parliament, said on the Telegram messaging app that the incident in Bryansk shows that “Ukraine has long lost the attributes of a state and has turned into a terrorist enclave.”

    Russia’s Baza Telegram channel, which often publishes information from sources in the security services and law enforcement, reported, without providing evidence, that according to preliminary information, the Bryansk bridge had been blown up.

    Prominent Russian military blogger Semyon Pegov, who uses the name War Gonzo, called the Bryansk collapse “sabotage.”

    Since the war began in February 2022, there have been continued cross-border shelling, drone strikes and covert raids from Ukraine into the Bryansk, Kursk and Belgorod regions that border Ukraine.

    Russia’s Ministry of Emergency Situations said on Telegram that efforts to find and rescue victims in the Bryansk incident continued throughout the night, and that some 180 personnel were involved in the operation.

    Among those killed was the locomotive driver, Russia’s state news agencies reported, citing medics.

    Social media pictures and videos showed passengers trying to help others climb out of the Bryansk train’s damaged carriages in the dark and firefighters looking for ways to reach passengers.

    The train was going from the town of Klimovo to Moscow, Russian Railways said. It collided with the collapsed bridge in the area of a federal highway in the Vygonichskyi district of the Bryansk region, Bogomaz said. The district lies some 100 km (60 miles) from the border with Ukraine.

    U.S. President Donald Trump has urged Moscow and Kyiv to work together on a deal to end the war, and Russia has proposed a second round of face-to-face talks with Ukrainian officials in Istanbul on Monday.

    Ukraine has not committed to attending the talks, saying it first needed to see Russia’s proposals, while a leading U.S. senator warned Moscow it would be “hit hard” by new U.S. sanctions.

    (Reuters)

  • Piyush Goyal commences official visit to France, Italy to boost economic ties

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal began his three-day official visit to France on Sunday as part of a five-day tour of France and Italy from June 1 to 5. The visit is aimed at further strengthening India’s strategic and economic partnerships with key European nations.

    During his stay in France, the Minister will hold bilateral meetings with senior French officials, including Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin. The discussions will focus on enhancing Indo-French economic ties, trade collaboration, and exploring investment opportunities in priority sectors.

    As part of his engagements, Goyal will participate in the India-France Business Round Table and the India-France CEO Forum. He is expected to meet senior leadership from leading French companies such as Vicat, TotalEnergies, L’Oréal, Renault, Valeo, EDF and ATR. The forums aim to deepen industry-level cooperation and foster greater dialogue between businesses from both countries.

    Speaking ahead of the visit, Goyal said, “France is a longstanding partner in India’s growth journey. This visit is an opportunity to reinforce our economic collaboration, encourage two-way investments, and support innovation-led partnerships.”

    The Minister will also represent India at the informal gathering of World Trade Organization (WTO) Ministers, held on the sidelines of the OECD Ministerial Council Meeting in Paris. He will articulate India’s views on key global trade issues, including reform of the multilateral trading system and inclusive growth.

    Goyal will hold a series of bilateral meetings with international counterparts during the visit. These include the UK Secretary of State for Business and Trade Jonathan Reynolds, Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, and Saudi Arabia’s Minister of Commerce Dr. Majid bin Abdullah Al-Kasabi.

    The Minister will also meet Israel’s Minister for Trade and Investment Nir Barkat, Nigeria’s Minister for Trade, Industry and Investment Dr. Jumoke Oduwole OON, and Brazil’s Foreign Minister Mr. Mauro Luis Iecker Vieira. These interactions are expected to advance India’s global trade outreach and provide momentum to the ongoing India-EU Free Trade Agreement negotiations.

    In addition, Goyal will engage with senior EU officials, including European Commissioner for Trade and Economic Security Maroš Šefčovič and Agriculture Commissioner Christophe Hansen. The talks will focus on boosting India-EU cooperation in trade, technology, and agriculture.

    Goyal will continue the second leg of his visit in Italy from June 3, where further engagements with industry leaders and government officials are scheduled.

  • Operation Sindoor: India’s Military Doctrine of Offensive Defence

    Source: Government of India

    Source: Government of India (4)

    In the annals of India’s military history, Operation Sindoor marks a decisive departure from the doctrine of strategic restraint. Triggered by the barbaric Pahalgam terror attack that claimed the lives of Indian civilians and tourists, this operation was meticulously crafted as a calibrated military-political response. It did not seek territorial gain nor a prolonged conflict it was a limited, high-impact military reprisal meant to enforce deterrence, inflict punitive costs, and collapse the artificial distinction between so-called “non-state actors” and the Pakistani state that harbours, trains, and directs them. This operation represents a maturing Indian statecraft where kinetic power is exercised with precision, proportionality, and political clarity. India’s strategic objective was not war it was redefinition. By shifting the cost-benefit calculus of cross-border terrorism and signalling that every future provocation will invite asymmetric retaliation, Operation Sindoor has ushered in a new era in subcontinental geopolitics.

    Precision Strikes: Surgical, Not Symbolic

    The first phase of Operation Sindoor commenced in the early hours of May 7, 2025. Leveraging a composite air package of Rafale multirole fighters, Sukhoi-30MKIs, and Mirage-2000 aircraft, the Indian Air Force conducted precise, intelligence-led strikes deep inside Pakistani territory. These were not blind retaliations they were carefully selected targets identified through layered ISR (Intelligence, Surveillance, Reconnaissance) systems, including satellite imagery, HUMINT, and SIGINT.

    The use of SCALP missiles from Rafales and BrahMos supersonic missiles from air platforms ensured surgical delivery with minimal collateral damage. Terrorist enclaves in Bahawalpur, Muridke, and Kotli, Skardu etc., regions long known to host training camps, ammunition dumps, and communication nodes were decimated. Over 100 confirmed militant casualties, including senior leadership figures from proscribed outfits like Jaish-e-Mohammed and Lashkar-e-Taiba, marked a devastating blow to the Pakistani terror-industrial complex. What distinguished these strikes from past episodes was their surgical nature and strategic framing. India did not seek to provoke full-scale war, nor did it act in anger. It acted with method, legality, and legitimacy framing the strikes as a response to an act of war perpetrated through proxy actors by a complicit state. This legitimacy ensured global understanding, if not overt support.

    The Dogfight: Honouring the Fog of War

    Later that night, tensions escalated into an aerial dogfight over contested between two countries. Both sides scrambled assets, leading to a kinetic engagement involving BVR (Beyond Visual Range) and close-range exchanges. India lost some air assets, and so did Pakistan. However, all Indian pilots were accounted for, is a testament to India’s rapid SAR protocols, operational preparedness, and strong morale. The air engagement is a reminder that operations however well-planned carry risks. Air dominance is not simply about superior machines but real-time decision-making, jamming, radar countermeasures, and pilot skill. India emerged from the engagement with its credibility intact. The enemy was bloodied, morale hit, and escalation managed.

    Air Defence Triumph: Holding the Line

    On May 8 and 9, 2025, Pakistan attempted retaliatory missile strikes and indulged in drone warfare by Turkish drones but India’s integrated air defence network held firm. Systems like the indigenous Akash SAMs, S-400 Triumf batteries, L-70 anti-aircraft guns, and the command-and-control network Akashteer worked in seamless coordination to intercept and neutralize incoming aerial threats. These systems represented a layered shield—short, medium, and long-range defences working in tandem. Not many Indian casualties were reported across these two days. While it is tempting to credit hardware alone, this success was equally a victory for Indian military doctrine, training, radar discipline, and force synergy across the Army, Air Force, and strategic command. The S-400 system, sourced from Russia, showed its full battlefield integration with Indian command doctrine, while Akash and L-70 systems, developed by DRDO and BEL, demonstrated India’s growing self-reliance in air defence. These engagements proved that India is no longer reactive. It can now predict, pre-empt, and neutralize threats without waiting for external validation or international permission.

    Airbases Neutralized: A Blow to Pakistani Air Power

    The most daring component of Operation Sindoor came in the early hours of May 10, 2025. In a pre-dawn mission, India struck eleven Pakistani airbases with BrahMos cruise missiles and stand-off weapons. Airstrips, hardened aircraft shelters, radar systems, and command centers were targeted based on precise ISR data. These strikes disrupted the Pakistan Air Force’s sortie capability, grounded multiple squadrons, and paralyzed operational momentum.

    These weren’t merely punitive. They were strategic de-capacitation measures, designed to ensure that Pakistan could not sustain a second or third wave of escalation. Post-strike imagery, open-source analysis, and leaked intercepts confirm major damages at bases like Rahim Yar Khan, Sargodha, Bholari, Jacobabad & Nur Khan Airbase. Significant PAF infrastructure, including JF-17 hangars, SAAB Awacs, and early-warning systems, were taken offline.

    As per noted Defence & Security expert Shishir Gupta in HT, “India’s S-400 air defence system in Adampur went into action no less than 11 times during Operation Sindoor and destroyed a Pakistani SAAB-2000 airborne early warning system as far as 315 kilometres away deep in Pakistan”. He further goes on to report that “Indian Air Force also has proof of its missiles having downed one C-130 J medium lift aircraft, a JF-17 and two F-16 fighters on ground and in the air” & “..The Indian strikes took out a Chinese-made LY-80 air defence system using a HARPY kamikaze drone at Lahore, while an Indian missile took out the prized HQ-9 (Chinese version of S-300) at Malir in Karachi.”

    This phase also demonstrated India’s maturing offensive deterrence posture. The use of standoff missiles allowed deep strikes without exposing aircraft to enemy radar or engagement zones. The message was clear: India possesses both the will and the capability to cripple Pakistan’s retaliatory framework without boots on the ground.

    Redefining Deterrence: The End of “Plausible Deniability”

    Perhaps the most far-reaching impact of Operation Sindoor is the collapse of the false firewall Pakistan erected between its army and its jihadi proxies. For decades, GHQ Rawalpindi operated in the grey zone training, equipping, and deploying terrorists while pretending innocence. India, until now, often responded diplomatically, seeking proof and global condemnation. That model is now obsolete. By treating the Pahalgam attack as a state-sanctioned act of war, India has established a new doctrine: no differentiation between non-state actors and the state that shelters them. This strategic redefinition collapses the ambiguity that Pakistan exploited for decades and forces it to absorb the consequences of proxy warfare. This is more than retaliation it is deterrence by punishment. The world, too, is watching. While global powers may issue standard calls for restraint. The legitimacy of India’s counter-strikes is enhanced by its commitment to proportionality, non-targeting of civilian infrastructure, and avoidance of war escalation.

    Indus Waters Treaty in Abeyance: Weaponizing Asymmetry

    One of the boldest geopolitical moves during Operation Sindoor was India’s decision to place the Indus Waters Treaty (IWT) in abeyance. Long hailed as an example of transboundary cooperation, the IWT has persisted even through wars. However, in the face of repeated Pakistani provocation, it has become a one-sided symbol of Indian restraint. By moving to suspend water flows or delay data sharing and project clearances, India has signalled that economic levers are now part of the strategic toolkit. This asymmetric tool non-lethal but deeply consequential gives India leverage without inviting kinetic escalation. It allows New Delhi to exert economic, agricultural, and psychological pressure on Pakistan’s heartland in a prolonged conflict scenario. This step also sends a larger message: India will now integrate all dimensions of national power military, diplomatic, economic, technological into its response architecture.

    A Strategic Template for the Future

    Operation Sindoor is not just a successful operation it is a template. India has for the first time demonstrated where there was Rapid force mobilization with surgical precision, multi-platform integration of air, missile-based assets, Resilience and transparency in combat engagements, Defensive superiority using indigenous and imported systems, Asymmetric escalation through economic and hydrological tools and Geopolitical signalling without diplomatic fallout. This holistic approach marks India’s arrival as a mature regional power capable of defending its interests across the spectrum from grey-zone threats to full-spectrum deterrence. It is no longer about reactive diplomacy. India now leads with strength, speed, and clarity.

    Noted International Defence Expert, John Spencer in his Article, “India’s Wake-Up Call: Why US Defense Reform Must Match the Speed of Modern War”, in Small War Journal has quoted as below:

    “India’s overwhelming success demonstrated something more enduring than airpower. It validated a national defense doctrine built around efficient domestic industrial strength. And most significantly, it delivered a clear message to its strategic rival. Pakistan a Chinese proxy by armament, alignment, doctrine was completely outmatched. Its Chinese-made air defense systems could not stop, detect, or deter India’s precision strikes. In Sindoor, India didn’t just win. It demonstrated overwhelming military superiority against a Chinese-backed adversary.”

    Reflecting on the Brahmos strikes of Indian Russian joint venture and its integration with domestic Indian systems under Make in India Program, he goes on to highlight that, “In the skies over Pakistan, India didn’t just dominate. It redefined regional deterrence. India didn’t just talk about reform. It executed it. And it won. India has become a master of the physics of lethality. The United States can learn from their success and model some of their changes for its own needs. India’s success—and Ukraine’s innovation—should be a wake-up call. They are building the warfighting models of the future. The US is still operating with Cold War machinery and Gulf War assumptions.”

    Further in an Article dt 29th May 2029 on X, titled “India’s Operation Sindoor: A Battlefield Verdict on Chinese Weapons—And India’s Victory”, John Spencer goes on to write about India’s weapon systems used and exclaimed that:

     “India fought as a sovereign power wielding precision tool it designed, built, and deployed with unmatched battlefield control. Pakistan fought as a proxy force, dependent on Chinese hardware that was built for export, not for excellence. When challenged, these systems failed—exposing the strategic hollowness behind Islamabad’s defense posture. ….Operation Sindoor wasn’t just a military campaign. It was a technology demonstration, a market signal, and a strategic blueprint. India showed the world what self-reliance in modern warfare looks like and proved that “Atmanirbhar Bharat” works under fire.”

    Conclusion: Sindoor as a Strategic Line Drawn

    One of the articles written by Royal United Services Institute titled, “Calibrated Force: Operation Sindoor and the Future of Indian Deterrence”, on 21st May 2025 sums it up perfectly. It states that rather than serious analysis of India’s targeting methodology, command intent, or escalation thresholds, the western media coverage has focused instead on the air-to-air engagement that led to the probable loss of some Indian Air Assets. Undue prominence was given to the performance of specific platforms, with little regard for the broader operational context or the rules of engagement that shaped the encounter. Arguably more impressive than the operation’s reach was its restraint on the first day.

    The article on goes on say, “According to Indian officials, pilots operated under strict rules of engagement that prohibited initiating attacks on Pakistani aircraft or pre-emptively suppressing air defence systems. It suggests a political leadership determined to signal its intent with clarity: India was not interested in initiating a conflict with the Pakistani state, but rather in degrading a specific ecosystem of terrorist violence that exists in the country. In effect, India accepted heightened operational risk in pursuit of clear strategic messaging. Such discipline in the face of a capable adversary is neither automatic nor easy. Yet it may well have prevented a broader escalation spiral. That alone deserves more analytical attention than it has received”.

    There is a media narrative of Chinese experts in Bloomberg exulting on performance of Chinese platforms presents a distorted narrative as part of information warfare. The target here is to drown the Indian strategic success and overwhelming air-superiority of the Indian Airforce crippling Pakistani Airbases and infrastructure, taking out Chinese defence systems of which we have clear satellite imagery and proof. In any air-combat there are bound to be losses, the Americans have faced F-16 losses operated by Ukraine, American MQ-9 reaper drones were taken out by Houthis in Yemen, even the Chinese air defence systems of Pakistan were taken out by Indian Airforce in Operation Sindoor. Many of these narratives in international media are shaped by commercial interests of respective military-industrial complexes.

    However, what should matter is that the overall objective of targeted military operation carried out by India between 7th to 10th May 2025 has been achieved. Indian strategic objectives have been met without getting trapped into an elongated war like Vietnam, Afghanistan, Syria or Ukraine. Pakistan must remember that Operation Sindoor is not over yet and no amount of aid from IMF, World Bank, military aid from China (amounting to 80% its military hardware) or a Crypto deal with US corporations would be able to protect it from Indian response to state sponsored terrorism abetted by Pakistani military-intelligence apparatus.

    Operation Sindoor is a watershed in India’s military and geopolitical evolution. It transformed tragedy into a moment of clarity, demonstrating that the Indian state will no longer absorb terror as the cost of diplomacy. Every attack will now invite disproportionate retaliation measured not in rhetoric but in military and economic terms. By operationalizing deterrence, neutralizing terror nodes, blunting enemy retaliation, and avoiding escalation into war, India has delivered a sophisticated, high-impact campaign that redefines conflict dynamics in South Asia. The message is now loud and clear: There will be no safe havens. No immunity through proxies. And no peace without accountability. India has drawn a red line in blood and steel. Operation Sindoor thus showcases clinical execution of India’s military doctrine of Offensive Defence