NewzIntel.com

Category: India

  • MIL-OSI Banking: RBI imposes monetary penalty on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 26, 2025, imposed a monetary penalty of ₹14.30 lakh (Rupees Fourteen Lakh Thirty Thousand only) on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’ and ‘Management of Advances – UCBs’ This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by it, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. donated certain amount to a trust in which the bank’s director’s relative was interested; and

    2. failed to ensure end-use of funds with respect to certain loans sanctioned by it.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/628

    MIL OSI Global Banks –

  • MIL-OSI Banking: RBI imposes monetary penalty on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 26, 2025, imposed a monetary penalty of ₹14.30 lakh (Rupees Fourteen Lakh Thirty Thousand only) on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’ and ‘Management of Advances – UCBs’ This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by it, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. donated certain amount to a trust in which the bank’s director’s relative was interested; and

    2. failed to ensure end-use of funds with respect to certain loans sanctioned by it.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/628

    MIL OSI Global Banks –

  • MIL-OSI Banking: RBI imposes monetary penalty on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 26, 2025, imposed a monetary penalty of ₹14.30 lakh (Rupees Fourteen Lakh Thirty Thousand only) on Shree Kadi Nagarik Sahakari Bank Ltd., Dist. Mehsana, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’ and ‘Management of Advances – UCBs’ This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by it, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. donated certain amount to a trust in which the bank’s director’s relative was interested; and

    2. failed to ensure end-use of funds with respect to certain loans sanctioned by it.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/628

    MIL OSI Global Banks –

  • MIL-OSI Banking: RBI imposes monetary penalty on Saibaba Nagari Sahakari Bank Maryadit, Sailu, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 24, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Saibaba Nagari Sahakari Bank Maryadit, Sailu, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. upload the KYC records of certain customers onto Central KYC Records Registry (CKYCR) within the prescribed time; and

    2. carry out periodic updation of KYC of certain customers as per the prescribed periodicity.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/629

    MIL OSI Global Banks –

  • MIL-OSI Banking: RBI imposes monetary penalty on Saibaba Nagari Sahakari Bank Maryadit, Sailu, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated June 24, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Saibaba Nagari Sahakari Bank Maryadit, Sailu, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had failed to:

    1. upload the KYC records of certain customers onto Central KYC Records Registry (CKYCR) within the prescribed time; and

    2. carry out periodic updation of KYC of certain customers as per the prescribed periodicity.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/629

    MIL OSI Global Banks –

  • MIL-OSI Banking: Lending and Deposit Rates of Scheduled Commercial Banks – June 2025

    Source: Reserve Bank of India

    Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of June 2025 are set out in Tables 1 to 7.

    Highlights:

    Lending Rates:

    • The weighted average lending rate (WALR) on fresh rupee loans of SCBs declined to 9.20 per cent in May 2025 from 9.26 per cent in April 2025.

    • The WALR on outstanding rupee loans of SCBs dropped marginally to 9.69 per cent in May 2025 from 9.70 per cent in April 2025.1

    • 1-Year median Marginal Cost of Funds based Lending Rate (MCLR) of SCBs moderated to 8.90 per cent in June 2025 from 8.95 per cent in May 2025.

    • The share of External Benchmark based Lending Rate (EBLR) linked loans in total outstanding floating rate rupee loans of SCBs was 61.6 per cent at end-March 2025 (60.6 per cent at end-December 2024), while that of MCLR linked loans was 34.9 per cent (35.9 per cent at end-December 2024).1

    Deposit Rates:

    • The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 6.11 per cent in May 2025 as compared to 6.34 per cent in April 2025.

    • The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs was 7.07 per cent in May 2025 (7.10 per cent in April 2025).1

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/627

    MIL OSI Global Banks –

  • MIL-OSI Submissions: Choosing to be an orphan: for some Kenyan families it’s a strategy for survival

    Source: The Conversation – Africa – By Andreana Prichard, Associate Professor of Honors and African History, University of Oklahoma

    In the world of international child development and orphan care, it’s not uncommon for children with families to declare themselves orphans. In fact, this practice can be traced back to precolonial times in Kenya.

    Andreana Prichard has done research on the practice in Kenya. We asked her to share her insights into it.

    Why do some people in Kenya assume the identity of ‘orphan’?

    We often think of “orphans” as children who have lost both parents and who lack kin networks. One might ask why someone would “opt in” to orphan status when they do not fall within the classical definition of the term.

    In my paper I look at the issue of orphanhood over the last 160 years. Case studies from Kenya I examine illustrate that the practice I define as “opting in” to orphanhood has precolonial roots. I define “opting in” as choosing to take on the label of being an orphan. This can be done by parents, relatives or even, in some instances, the child. This is because the label “orphan” has come to confer unique opportunities.

    The practice became increasingly popular in the mid-1990s, when parents in eastern and southern Africa who had contracted HIV began to die in large numbers. Activists feared many children would be left without caregivers.

    In response, the number of orphanages proliferated as humanitarian actors, churches and states inundated east Africa with orphan-focused NGOs.

    In 2020, officials in Kenya estimated that there were at least 910 residential institutions for children in the country (of which 581 were registered), housing between 26,198 and 85,733 Kenyan children.

    The predicted “orphan crisis” never materialised, partly because families and communities stepped in to care for newly parentless children. But the idea of an “orphan crisis” remained, and so did the funding and infrastructure.

    This phenomenon occurred across the continent, not just in Kenya. However, its effects were felt particularly acutely in eastern and southern Africa where HIV/Aids prevalence rates were higher and where there was more western tourism.

    Today, many African families see orphan-focused NGOs as a path to access education and improve their lives. My research shows that children themselves sometimes affiliate with an institution that provides shelter, food and schooling. Children facing abuse from caregivers may also prefer the relative anonymity and safety of an institution.

    In some cases, receiving orphan services actually raises the status of the “orphan” child above that of other children. They have access to more material resources than they might have had in their villages or at home. They might have more leisure time and less work. They may have access to better bedding, shoes and clothing. They are also likely able to attend school more consistently and have a real opportunity to attend university.

    Does ‘opting in’ have a long history?

    Yes, it does.

    In the precolonial period, most parentless or vulnerable children were cared for through lasting community support systems. Orphanhood, as it exists today as a child lacking support, protection, or care from kin, was largely avoided.

    However, the late 19th to mid-20th centuries brought new actors to the east African region. The practice of “opting in” became a strategic, temporary option used by families to access services from western humanitarians.

    The earliest example of this shift I found in my research is from the 1890s. Fearing their children would be caught in the Indian Ocean slave trade, African parents sometimes chose to send their children to British missions until the region was safe. They knew the missionaries opposed the slave trade and knew they offered food and medical care.

    African parents thought they were making temporary arrangements to keep their children safe. Missionaries, however, understood parents to have abandoned their children. When parents returned to repay the debt – with agricultural produce or trade goods – and to reclaim their children, missionaries refused them.

    In another example from Kenya in the 1950s, the British colonial government opened “reform schools” for young men. The Wamumu Approved School was renowned for the relative quality of education it provided. But the state admitted only the “most vulnerable” for a free education. Feeling they had no way to access Wamumu, students claimed to be orphans.

    What have been the negative effects of Kenya’s orphan system?

    There are several problems with creating a situation in which people present themselves as vulnerable just to gain safety or improve their social and economic standing.

    First, research has shown that building orphanages in poor communities incentivises parents to abandon their children if they’re not also given the help to remain together.

    Second, research shows that children are often put at risk in these institutions. Institutionalisation exposes children to risks such as sexual abuse, gender-based violence and neglect.

    Third, orphanages have become so lucrative that African orphanage owners will go to great lengths to fit African children into the categories westerners wish to fund. The phenomenon of “paper orphans” is a prime example. “Paper orphans” are children who are recruited from their homes by proprietors (or middlemen/brokers) of orphanages and residential-care facilities. Fraudulent documentation is created for them – often including false death certificates of parents and new identity registration documents – rendering them orphans on paper, and vulnerable in practice.

    What should be done?

    Governments in Europe, Central Asia, Latin America and the Caribbean are trying to phase out orphanages, as are some African countries.

    Based on my research I believe that working with families to support vulnerable children in their homes of origin or with extended families is a better option. This can be done through assistance programmes for vulnerable families as well as child welfare programmes. These allow families to remain intact when experiencing hardship.

    Kenya is taking steps to do this by replacing orphanages and other forms of residential children’s homes with family-based, foster and community-based care and other forms of assistance. Family strengthening approaches include positive parenting instruction, life skills training, and income-generating activities, as well as supportive supervision.

    In addition to this, missionary and voluntourism trips to orphanages and residential care facilities should be banned or limited.

    Andreana Prichard received funding from the Fulbright-Hays Doctoral Dissertation Research Abroad Grant.

    – ref. Choosing to be an orphan: for some Kenyan families it’s a strategy for survival – https://theconversation.com/choosing-to-be-an-orphan-for-some-kenyan-families-its-a-strategy-for-survival-247371

    MIL OSI –

  • MIL-OSI Submissions: Back to the Future at 40: the trilogy has never been remade – let’s hope that doesn’t change

    Source: The Conversation – UK – By Daniel O’Brien, Lecturer, Department of Literature Film and Theatre Studies, University of Essex

    It has now been four decades since Marty McFly first hit 88 miles per hour in a time-travelling DeLorean. Robert Zemeckis’s sci-fi adventure blockbuster didn’t just navigate the space-time continuum onscreen (thanks to the flux capacitor). It also found a lasting place in the hearts of its audience.

    Personally, I don’t think I’ve ever heard anyone speak badly about the Back to the Future trilogy (aside from certain cast members, which I’ll touch on later). It has thankfully avoided the common traps of remakes and the sprawling expanded universe trend, which has diluted so many other beloved franchises (yes, Star Wars, Indiana Jones and The Lord of the Rings, I’m talking to you).

    Naturally, the success of Back to the Future has inspired a range of adaptations, including a computer game, an immersive Secret Cinema event, as well as a more recent West End stage musical. But each version stays true to the spirit of the original, reinforcing what feels like an unspoken rule in Hollywood: Back to the Future is off-limits to a cinematic or televised remake.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    Zemeckis and Bob Gale, who co-wrote the screenplay for all three films, have repeatedly shut down the idea of a fourth instalment, declaring that the trilogy is complete. In fact, aside from a few delightful Back to the Future references in other shows made by the original stars themselves, the only remake you’re likely to come across is BBTF Project 85. It’s a multi-fan-made, shot-for-shot collaboration and true labour of love, created not for profit but out of pure admiration for the original.

    The success of the Back to the Future trilogy can be attributed to several factors, not least the undeniable charisma and chemistry between Michael J. Fox and Christopher Lloyd. The wholesome, inter-generational friendship of their characters is never explicitly explained, but also doesn’t need to be. It simply works. The dynamic between Doc and Marty captures a timeless, heartfelt bond between two generations who respect and learn from each other, much like the relationship between Daniel LaRusso and Mr. Miyagi in The Karate Kid (another trilogy that has since found itself in the rebooted camp).

    The original trailer for Back to the Future.

    Michael J. Fox was the original choice for Marty McFly but due to scheduling conflicts with his role on sitcom Family Ties, production began with Eric Stoltz in the role. Over half the film was shot before Zemeckis made the difficult decision to recast.

    As Stoltz later said in an interview, the change came because he “wasn’t giving the performance [Zemeckis] wanted for his film”. Stoltz, a talented performer, brought a darker, moodier and more intense interpretation to Marty, a version that was replaced by Fox’s lighter, more comedic approach, channelled through his effortless charm.

    Stoltz wasn’t the only cast member to leave Back to the Future with a sense of disappointment. Crispin Glover, who played George McFly, also famously fell out with Zemeckis and Gale over creative differences. One of which was Glover’s objection to the film’s ending that presented Marty’s family being financially wealthier in comparison to the start. Glover felt this idea sent a negative message of money equating to happiness. This artistic clash (and ironically, dispute over salary) ultimately led to him being recast in Back to the Future Parts II and III, with actor Jeffrey Weissman stepping in.

    In the sequels, Weissman wears a facial prosthetic designed from Glover’s likeness from the first film (where George is made to look older). This enraged Glover further, who responded by filing a lawsuit, arguing that the use of his image without consent was illegal.

    He has since been openly critical of Weissman’s “bad performance” and has expressed ongoing frustration that many viewers still mistakenly assume the “bad acting” to be his own. As he notes, this explicitly contrasts with the more obvious recasting of Jennifer Parker (Marty’s girlfriend) performed by Claudia Wells in the first film and later replaced by Elisabeth Shue in the sequels.

    The recasting reflects the first film’s unexpected success. Back to the Future was never intended to have a sequel, but the overwhelming popularity of the original prompted the rapid development of two back-to-back follow-ups released in 1989 and 1990.

    Once again, the film’s success can be credited to the electric chemistry between its leads and the unforgettable music, from Huey Lewis’s Power of Love to Chuck Berry’s “new sound” in Johnny B. Goode, and Alan Silvestri’s hauntingly triumphant score. Silvestri’s music seems to capture the spirit of wide-eyed adventure, nostalgia and wisdom all at once, like a journey through time, composed entirely for the ears, affording the trilogy a sense of timelessness.

    Back to printed media

    Another charm of the Back to the Future trilogy (which stood out to me in a more recent viewing) lies in its use of printed media, which inspired me to create my video essay, Back to Printed Media.

    Back to Printed Media.

    As indicated in the video, Back to the Future begins with the sound and image of clocks before panning to a framed newspaper article, a fitting introduction to how all three instalments use print to convey plot, emotion and shifts across timelines.

    Beyond newspapers, the trilogy gives prominence to photographs, handwritten letters, phone books, a sports almanac, transparent receipts of the future, and even printed faxes (in the future of 2015). This tactile world of ink and paper evokes a deep nostalgia, underscoring the emotional weight of physical communication, something that has steadily faded with the rise of digital screens and indeed the loss of physical touch.

    Doc even comments in the third instalment (when reading a letter from his future self) that he never knew he could write anything so touching.

    In an era where glowing rectangles dominate both our lives and our storytelling, Back to the Future offers a refreshing contrast. It reminds us of the human connection and the need to be with others, packaged in a blockbuster narrative about one of the most universal cinematic themes: finding your way back home.

    As a trilogy, Back to the Future has stood the test of time for four decades, and I’m confident it will continue to resonate with both new and nostalgic audiences well into the future.

    Daniel O’Brien 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. Back to the Future at 40: the trilogy has never been remade – let’s hope that doesn’t change – https://theconversation.com/back-to-the-future-at-40-the-trilogy-has-never-been-remade-lets-hope-that-doesnt-change-259725

    MIL OSI –

  • MIL-OSI Submissions: Global crises have hit education hard: 24 years of research offers a way forward for southern Africa

    Source: The Conversation – Africa – By Emmanuel Ojo, Associate Professor, University of the Witwatersrand

    Global crises have shaped our world over the past two decades, affecting education systems everywhere. Higher education researcher Emmanuel Ojo has studied the impact of these disruptions on educational opportunities, particularly in southern Africa.

    He looked at 5,511 peer-reviewed articles published between 2000 and 2024 to explore what the research suggests about making education systems more resilient. Here, he answers some questions about his review.

    What are the global crises that have undermined education?

    In my review I drew up a table documenting how multiple crises have disrupted education systems worldwide.

    The cycle began with the 2000-2002 dot-com bubble collapse, which reduced education funding and slowed technological integration. This was followed by the 2001 terrorist attacks, Severe Acute Respiratory Syndrome (SARS) outbreak (2002-2004), Iraq War (2003-2011), Indian Ocean tsunami (2004), and Hurricane Katrina (2005). The Israeli-Palestinian conflict since 2000, global food crisis (2007-2008), financial crisis (2007-2008), and European debt crisis (2010-2012) continued this pattern of disruption.

    More recently, the Ebola epidemic, COVID-19 pandemic, and Russia-Ukraine war have destabilised education systems. Meanwhile, the ongoing climate crisis creates challenges, particularly in southern Africa where environmental vulnerability is high.

    Who suffers most, and in what ways?

    Education has consistently been among the hardest-hit sectors globally. According to Unesco, the COVID pandemic alone affected more than 1.6 billion students worldwide.

    But the impact is not distributed equally.

    My research shows crises have put vulnerable populations at a further disadvantage through school closures, funding diversions, infrastructure destruction and student displacement. Quality and access decline most sharply for marginalised communities. Costs rise and mobility is restricted. Food insecurity during crises reduces attendance among the poorest students.

    In southern Africa, the Covid-19 disruption highlighted existing divides. Privileged students continued learning online. Those in rural and informal settlements were completely cut off from education.

    Climate change compounds these inequalities. Unicef highlights that climate disasters have a disproportionate impact on schooling for millions in low-income countries, where adaptive infrastructure is limited.

    What’s at stake for southern Africa is the region’s development potential and social cohesion. The widening of educational divides threatens to create a generation with unequal opportunities and capabilities.

    What makes southern African education systems fragile?

    My review focused on the 16 countries of the Southern African Development Community, revealing what makes them vulnerable to crisis impacts.

    Southern Africa’s geographic exposure to climate disasters combines with pre-existing economic inequalities. The region’s digital divide became starkly visible during the Covid-19 pandemic. Some students were excluded from learning by limited connectivity and unreliable electricity.

    The region’s systems also rely on external funding. The Trump administration’s sudden foreign aid freeze was a shock to South Africa’s higher education sector. It has affected public health initiatives and university research programmes.

    Research representation itself is unequal. Within the region, South African researchers dominate and other nations make only limited contributions. This creates blind spots in understanding context-specific challenges and solutions.

    Each successive crisis deepens educational divides, making recovery increasingly difficult and costly. Weaker education systems make the region less able to respond to other development challenges, too.

    How can southern Africa build education systems to withstand crises?

    One striking finding from my review was the surge in educational research after the Covid-19 pandemic began – from 229 studies in 2019 to nearly double that in 2020, with continued rapid growth thereafter. This indicates growing recognition that education systems must be redesigned to withstand future disruptions, not merely recover from current ones.

    Research points to a number of ways to do this:

    • Strategic investment in educational infrastructure, particularly digital technologies, to ensure learning continuity.

    • Equipping educators with skills to adapt teaching methods during emergencies.

    • Innovative, context-appropriate teaching approaches that empower communities.

    • Integration of indigenous knowledge systems into curricula, enhancing relevance, adaptability and community ownership.

    • Interdisciplinary and cross-national research collaborations.

    • Protection of education budgets, recognising education’s role in crisis recovery and long-term stability.

    • Community engagement in education, ensuring interventions are culturally appropriate and widely accepted.

    In my view, African philanthropists have a duty to provide the independent financial base that education systems need to withstand external funding fluctuations.

    What’s the cost of doing nothing?

    The economic and social costs of failing to build resilient education systems are profound and long-lasting. Each educational disruption creates negative effects that extend far beyond the crisis period.

    When students miss critical learning periods, it reduces their chances in life. The World Bank estimates that learning losses from the Covid-19 pandemic alone could result in up to US$17 trillion in lost lifetime earnings for affected students globally.

    Social costs are equally severe. Educational disruptions increase dropout rates, child marriage, early pregnancy, and youth unemployment. These outcomes create broader societal challenges that require costly interventions across multiple sectors.

    Spending on educational resilience avoids those costs.

    The question isn’t whether southern African nations can afford to invest in educational resilience, but whether they can afford not to.

    The choices made today will determine whether education systems merely survive crises or make society better. Evidence-based policies and regional cooperation are essential for building education systems that can fulfil Southern Africa’s human potential.

    Emmanuel Ojo receives funding from National Research Foundation (NRF).

    – ref. Global crises have hit education hard: 24 years of research offers a way forward for southern Africa – https://theconversation.com/global-crises-have-hit-education-hard-24-years-of-research-offers-a-way-forward-for-southern-africa-251833

    MIL OSI –

  • MIL-OSI Russia: 8 killed, 26 injured in chemical plant blast in India

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    NEW DELHI, June 30 (Xinhua) — At least eight people were killed and 26 injured on Monday when a reactor exploded at a chemical plant in India’s southern Telangana state, police said.

    The blast took place in the Pashamilaram industrial area, located about 48 km northwest of Hyderabad, the state capital.

    Police believe the death toll could rise given the critical condition of some of the victims.

    There were reportedly about 150 workers at the plant at the time of the explosion.

    A preliminary investigation by police has shown that the reactor exploded during routine operations at the plant. –0–

    MIL OSI Russia News –

  • PM Modi shares article highlighting policy and innovation driving India’s rise as a global steel leader

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday shared an article emphasizing the crucial role of policy initiatives and innovation in propelling India’s steel industry toward global leadership.

    In reply to a social media post by Union Minister H.D. Kumaraswamy on X, the Prime Minister said, “From infrastructure and defence to electric mobility and clean energy, steel is the backbone of a rising India.”

    “Union Minister Shri @hd_kumaraswamy outlines how policy push and innovation are shaping India’s journey to becoming a global steel leader,” the PM added in his post.

    https://rb.gy/rruno

  • Digital India in action: Citizen-first reforms take centre stage

    Source: Government of India

    Source: Government of India (4)

    Union Minister Dr. Jitendra Singh on Monday emphasized the pivotal role of citizen-centric digital reforms in shaping India’s administrative future while inaugurating the Southern Regional Conference of the Indian Institute of Public Administration (IIPA) at Pondicherry University. The conference, themed “Empowering Citizens in Digital India: Administrative, Management and Organizational Reforms,” brought together over 350 delegates, including senior bureaucrats, academics, and industry professionals.

    In his keynote address, the Union Minister underscored India’s transition from “minimum government, maximum governance” to a digitally empowered and citizen-first governance model. Citing landmark initiatives such as DigiLocker, Direct Benefit Transfer, and the JAM Trinity, he said these reforms have simplified service delivery, enhanced transparency, and ensured dignity for citizens—especially in remote regions.

    He also launched a new Governance Cell at Pondicherry University to promote research and awareness on public service and reforms among students and young professionals. Highlighting India’s digital journey, the Minister pointed to advances like self-attestation, digital life certificates, and facial recognition systems, stating, “It’s not just about adopting technology—it’s about ensuring ease of living and dignity for every Indian.”

    The Union Minister praised initiatives like Ayushman Bharat and PM Awas Yojana for widening access to healthcare and housing and lauded the “One Nation, One Subscription” programme for democratizing access to academic resources. He noted India’s rising global stature, with improvements in innovation, patents, and startup rankings, and said the country is on track to becoming the world’s third-largest economy by 2027.

    Jitendra Singh released a book titled “Digital Governance in India – Transforming Public Service Delivery” by Dr. T. Gopinath and felicitated retired IAS officer Vallavan for his service in public administration. The event also featured presentations of over 80 academic papers from across Southern India and saw participation from IIPA branches in Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Puducherry.

  • MIL-OSI Banking: Standing Deposit Facility and Marginal Standing Facility – Change in Timings

    Source: Reserve Bank of India

    At present, Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) are available between 5:30 PM and 11:59 PM on all days.

    2. In light of the extension of market timings for call money to 7:00 PM, it has been decided that the Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) will be available between 7:00 PM and 11:59 PM with effect from July 01, 2025.

    3. All other terms and conditions of the current SDF and MSF schemes remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/625

    MIL OSI Global Banks –

  • India’s industrial output grows by 1.2% in May 2025

    Source: Government of India

    Source: Government of India (4)

    India’s industrial production recorded a modest growth of 1.2 per cent in May 2025, according to the latest Quick Estimates released under the revised calendar for the Index of Industrial Production (IIP).

    The latest data shows a slight moderation in growth when compared to April 2025, when the IIP had registered an increase of 2.7 per cent. The overall index for May stood at 156.6, up from 154.7 in the corresponding month last year. Sector-wise, the manufacturing segment was the main driver, recording a growth of 2.6 per cent, even as the mining sector saw a marginal contraction of 0.1 per cent. The electricity sector, however, registered a significant decline, contracting by 5.8 per cent.

    The detailed figures highlight the resilience of key industry groups within the manufacturing sector. Of the 23 industry groups at the two-digit level of the National Industrial Classification, 13 recorded positive growth. The manufacture of basic metals grew by 6.4 per cent, driven by strong production of items such as MS blooms, billets, ingots, pencil ingots, MS slabs and flat products of alloy steel. The manufacture of machinery and equipment not elsewhere classified rose by 11.8 per cent, supported by healthy output of separators, decanter centrifuges, various types of pumps and stationary internal combustion piston engines for non-automotive uses. The manufacture of other non-metallic mineral products grew by 6.9 per cent, boosted by production of cement, cement clinkers and glassware.

    Under the use-based classification, the index for primary goods stood at 157.9, while capital goods recorded a notable jump to 120.1, reflecting a robust growth of 14.1 per cent compared to May 2024. Intermediate goods rose to 168.1 with a growth of 3.5 per cent, while infrastructure and construction goods registered an index of 198.1, translating into a year-on-year growth of 6.3 per cent.

    On the consumer front, the scenario appeared mixed. While the index for consumer durables stood at 129.3, it marked a marginal decline of 0.7 per cent over the same period last year. Consumer non-durables slipped further, with the index dropping to 150.3, showing a contraction of 2.4 per cent.

    The latest release also included the final revision for April 2025, compiled with a weighted response rate of 93 per cent, while the Quick Estimates for May 2025 were compiled with a response rate of 89.5 per cent.

    The Central Statistics Office will now release the Quick Estimates on the 28th of every month, or the next working day if the date happens to be a holiday.

  • Which countries are quitting a key landmine treaty and why?

    Source: Government of India

    Source: Government of India (4)

    Ukraine has joined other countries bordering Russia in signalling that it will withdraw from the Ottawa Convention banning anti-personnel landmines, in the face of what they say are growing military threats from Russia.

    NATO members Finland, Poland and the three ex-Soviet Baltic states – Estonia, Latvia and Lithuania – have either withdrawn from the convention or indicated that they would do so, citing the increased military danger from their neighbour.

    The moves threaten to reverse decades of campaigning by activists who say there should be a global ban on a weapon that blights huge swathes of territory and maims and kills civilians long after conflicts have abated.

    Countries that quit the 1997 treaty – one of a series of international agreements concluded after the end of the Cold War to encourage global disarmament – will be able to start producing, using, stockpiling and transferring landmines once again.

    COUNTRIES EXITING

    All European countries bordering Russia have announced plans to quit the global treaty,apart from Norway which has only a 200 km (125 mile) border with Russia in its remote Arctic far north, andsaid it was important to maintain stigma around landmines.

    Ukraine’s President Volodymyr Zelenskiy said on Sunday that he had signed a decree to pull Ukraine out of the Convention because Russia has used anti-personnel mines extensively in parts of Ukraine during the 40-month-old war.

    Anti-personnel mines, Zelenskiy said, are “often the instrument for which nothing can be substituted for defence purposes”.

    Some European countries have said they fear that Russia could use any pause in fighting to re-arm and target them.

    Officials have suggested a withdrawal could put them on more of an equal footing with Russia which has not signed or ratified the treaty. Other major powers that have not signed include the United States and China.

    U.N. Secretary General Antonio Guterres in mid-June raised grave concerns about recent withdrawal announcements, and urged all states to adhere to existing treaties and immediately halt any steps towards their withdrawal.

    FUNDING CUTS

    As countries quit the convention, global demining efforts are also backsliding amid “crippling” U.S. funding cuts under President Donald Trump, according to the International Campaign to Ban Landmines. Washington had provided more than $300 million a year, or 40% of total international support for removing mines, according to the Landmine Monitor report in 2024.

    A State Department official said in March it had restarted some global humanitarian demining programmes and activities, without giving details. It has previously run major programmes in Iraq, Afghanistan and Laos.

    Anti-personnel landmines are generally hidden in the ground and designed to detonate automatically when someone steps on them or passes nearby. More than 80% of mine victims are civilians, according to the International Committee of the Red Cross.

    The convention includes provisions to assist victims, many of whom have lost limbs and suffer from other permanent disabilities.

    In June 2025 the U.N. reported that Ukraine had become the most mined country in the world. It said there had been around 800 civilian casualties due to unexploded ordnance.

    (Reuters)

  • MIL-OSI Russia: “Academic Council about People”: competition of teaching staff, remuneration, awards and incentives

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Higher School of Economics

    The final meeting of this academic year took place on June 25. Academic Council of the National Research University Higher School of Economics. And if at previous meetings issues of technological development, international cooperation and financial stability of the university were considered, now the emphasis was placed on social issues.

    “Today, the Academic Council is about people,” said HSE Rector Nikita Anisimov, opening the meeting. Before discussing the main agenda, he reported that the day before, on June 24, in accordance with the decree of the President of Russia, several university employees became recipients of state awards.

    The Order of Friendship was awarded to full professors Viktor Bolotov and Anton Ivanov, and the medal of the Order of Merit for the Fatherland, 2nd degree, was awarded to research professor FSN Leonid Polyakov. The honorary title “Honored Worker of Higher Education of the Russian Federation” was awarded to full professor Andrei Klimenko, “Honored Scientist of the Russian Federation” – to full professor Vladislav Podinovsky.

    Nikita Anisimov also recalled that in the recent elections to the Russian Academy of Sciences, four HSE employees elected academicians, seven – corresponding members. “This is evidence of the good potential and power of our university, the dynamics of its development and the attitude towards it,” the rector emphasized.

    The first item on the agenda was the traditional summer competition for filling positions of professorial and teaching staff (PTS). Its preliminary results were reported by HSE Vice-Rector Alexey Koshel and Head of the Commission on Personnel and Awards of the Academic Council Marina Oleshek.

    Alexey Koshel noted that the number of recommended candidates for three- and four-year contracts in Moscow has increased compared to the winter competition. The vice-rector noted that the St. Petersburg campus demonstrated high activity in terms of staff renewal: there are almost as many external candidates for professor vacancies there as internal ones.

    All this speaks to the effectiveness of the chosen vector of development of personnel policy: the university attracts talented teachers and scientists to the positions of teaching staff, with whom it is ready to enter into long-term cooperation. At the same time, the status of a professor at the National Research University Higher School of Economics is highly attractive on the market, ensuring serious competition and stable renewal of the academic environment.

    The second issue on the agenda is the system of material motivation of HSE employees. The key element of this system is the Regulation on Remuneration, adopted back in 2015. At that time, it represented a set of the most modern solutions in the education system. Since then, many changes have occurred at the university, in legislation and in the labor market, the requirements and basic expectations of employees have been transformed, the range of best practices for working with material motivation has expanded, so there was a need to develop a new version of the document.

    “A high level of guaranteed wages for full-time employees and a system of academic bonuses have been and remain a serious factor and incentive for the development of the university. The revision of the Regulation on wages has become a logical and necessary step to maintain leadership and motivation of the team, which today works on global projects in science and education, and faces serious professional challenges,” said Alexey Koshel.

    The new regulation includes a support system for young professionals: financial support for the period of adaptation to professional activity, a paid mentoring system, and an allowance for defending dissertations for the degree of candidate of science. The regulation revises and supplements the list of incentive payments and social measures. The model for remuneration of external part-time workers has been changed, and business processes for concluding civil law contracts have been simplified. In addition, digital tools are being developed that allow employees to see all the financial incentives available at the university.

    Vice-Rector of the National Research University Higher School of Economics Alexander Balyshev also noted the importance of maintaining the volume of the university’s investments in academic allowances taking into account inflation. Changes in their structure are possible, but they will remain an incentive tool.

    The proposed innovations were approved by the relevant commissions of the Academic Council, as well as Trade Union of HSE Employees, as its chairman, ordinary professor Dmitry Kuznetsov, spoke about.

    The Academic Council supported the changes: they will come into force in 2026. As Nikita Anisimov emphasized, the material motivation system is a framework that is designed to streamline wages and make people’s lives easier. The new system will become more balanced, transparent and fair, aimed at a systematic increase in the salaries of university employees.

    The meeting also focused on non-material motivation. The Academic Council approved the Regulation on the system of awards and incentives at the National Research University Higher School of Economics. This system exists at the university, but, like the remuneration system, it needs to be modernized. “Its principles should also be clear to the team,” Nikita Anisimov noted. Alexey Koshel spoke in more detail about the innovations in this matter.

    He noted that professional recognition as a tool of non-material motivation does not lose its relevance. “Today, it is important to focus efforts on ensuring that managers at all levels have complete and up-to-date information about the award system and actively use the available tools. The University plans to develop the practice of presenting awards in a solemn atmosphere and make professional recognition a significant event for colleagues and the University as a whole,” said Alexey Koshel.

    The incentive system includes a letter of gratitude and a thank-you note, which will be available to any employee from the first days of work (according to the previously effective rules – with at least one year of experience). The award system includes a certificate of honor from HSE, medals from HSE, honorary badges from HSE and honorary titles (statuses). Two new statuses are “Honorary Worker of HSE” and “Honorary Professor of HSE”, and the latter can be assigned to external colleagues – partners, trustees of the university.

    About the results XXV Yasinsky (April) International Scientific Conference on Problems of Economic and Social Development said the chairman of its program committee, full professor at the National Research University Higher School of Economics Fuad Aleskerov.

    He stated that it was possible to preserve all the advantages of the scientific conference: a stable brand, an interdisciplinary program, the involvement of different scientific schools, and the attraction of young scientists, including those from Russian regions. The top 10 countries by the number of foreign speakers included China, India, Qatar, the USA, Belarus, Brazil, Kazakhstan, the UK, South Africa, and Kyrgyzstan.

    The Academic Council decided to rename the conference. Now it will be called the April International Scientific Conference named after E.G. Yasin.

    Concluding the meeting, Nikita Anisimov thanked his colleagues for the involved discussion and for their effective work in the past academic year. He recalled that the admissions campaign had begun at the Higher School of Economics, which would continue after the vacation period.

    “It is important that the university has formed a united and diverse team, which is well represented in the Academic Council. In this unity and diversity lies our strength and our future,” the HSE rector concluded.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • Sensex, Nifty snap four-day winning streak amid profit booking

    Source: Government of India

    Source: Government of India (4)

    After four consecutive sessions of gains, benchmark equity indices ended lower on Monday as investors chose to book profits in the absence of strong domestic cues.

    The BSE Sensex declined by 452 points, or 0.54 per cent, to settle at 83,606.46. The index oscillated between an intra-day high of 84,099.53 and a low of 83,482.13. The NSE Nifty also lost ground, shedding 120.75 points, or 0.47 per cent, to close at 25,517.05, after moving within a narrow range through the session.

    Despite the subdued performance of the headline indices, the broader market continued to display resilience. The Nifty Midcap100 rose by 0.6 per cent, while the Nifty Smallcap100 added 0.52 per cent, suggesting sustained investor interest in mid- and small-cap stocks.

    Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Finance, Reliance Industries, Tata Steel and Bharti Airtel were among the major laggards. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv and Eicher Motors recorded notable gains.

    Sectorally, performance was mixed. PSU banks outperformed, with the Nifty PSU Bank index jumping 2.66 per cent. Shares of Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank and Punjab & Sind Bank advanced sharply during the session.

    Other sectors including IT, consumer durables, pharma, healthcare, media and energy indices ended in positive territory. However, indices tracking automobiles, banking, financial services, FMCG, metals, realty, private banks and oil & gas sectors closed in the red.

    Vinod Nair, Head of Research at Geojit Financial Services, observed that while global cues have turned marginally positive on hopes of easing geopolitical tensions and progress in a potential US trade agreement, the domestic market paused to consolidate recent gains.

    “Investors are now looking ahead to the upcoming corporate earnings season, with mid- and small-cap segments showing strength in anticipation of improved results supported by healthy consumer demand and better margins,” he said.

    The India VIX, which measures market volatility, rose by 3.2 per cent to 12.78, indicating a slight uptick in investor caution.

    Meanwhile, the rupee weakened by 0.21 per cent to trade near 85.70 against the US dollar, as profit booking and long unwinding weighed on the currency following recent gains.

    “The rupee came under pressure ahead of a crucial week marked by key US data releases and the expiry of the 90-day extended tariff deadline. The domestic unit is expected to remain volatile in the 85.35–86.00 range,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Sensex, Nifty snap four-day winning streak amid profit booking

    Source: Government of India

    Source: Government of India (4)

    After four consecutive sessions of gains, benchmark equity indices ended lower on Monday as investors chose to book profits in the absence of strong domestic cues.

    The BSE Sensex declined by 452 points, or 0.54 per cent, to settle at 83,606.46. The index oscillated between an intra-day high of 84,099.53 and a low of 83,482.13. The NSE Nifty also lost ground, shedding 120.75 points, or 0.47 per cent, to close at 25,517.05, after moving within a narrow range through the session.

    Despite the subdued performance of the headline indices, the broader market continued to display resilience. The Nifty Midcap100 rose by 0.6 per cent, while the Nifty Smallcap100 added 0.52 per cent, suggesting sustained investor interest in mid- and small-cap stocks.

    Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, Bajaj Finance, Reliance Industries, Tata Steel and Bharti Airtel were among the major laggards. On the other hand, Trent, State Bank of India, Bharat Electronics, Titan, Bajaj Finserv and Eicher Motors recorded notable gains.

    Sectorally, performance was mixed. PSU banks outperformed, with the Nifty PSU Bank index jumping 2.66 per cent. Shares of Maharashtra Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Canara Bank, UCO Bank, Indian Bank and Punjab & Sind Bank advanced sharply during the session.

    Other sectors including IT, consumer durables, pharma, healthcare, media and energy indices ended in positive territory. However, indices tracking automobiles, banking, financial services, FMCG, metals, realty, private banks and oil & gas sectors closed in the red.

    Vinod Nair, Head of Research at Geojit Financial Services, observed that while global cues have turned marginally positive on hopes of easing geopolitical tensions and progress in a potential US trade agreement, the domestic market paused to consolidate recent gains.

    “Investors are now looking ahead to the upcoming corporate earnings season, with mid- and small-cap segments showing strength in anticipation of improved results supported by healthy consumer demand and better margins,” he said.

    The India VIX, which measures market volatility, rose by 3.2 per cent to 12.78, indicating a slight uptick in investor caution.

    Meanwhile, the rupee weakened by 0.21 per cent to trade near 85.70 against the US dollar, as profit booking and long unwinding weighed on the currency following recent gains.

    “The rupee came under pressure ahead of a crucial week marked by key US data releases and the expiry of the 90-day extended tariff deadline. The domestic unit is expected to remain volatile in the 85.35–86.00 range,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Wildfires burn in Turkey and France as early heatwave hits

    Source: Government of India

    Source: Government of India (4)

    Firefighters battled wildfires in Turkey and France on Monday as an early heatwave hit the region.

    In Turkey, the wildfires raged for a second day in the western province of Izmir, fanned by strong winds, Forestry Minister Ibrahim Yumakli said, forcing the evacuation of four villages and two neighbourhoods.

    Media footage showed teams using tractors with water trailers and helicopters carrying water, as smoke billowed over hills marked with charred trees.

    Turkey’s coastal regions have in recent years been ravaged by wildfires, as summers have become hotter and drier, which scientists say is a result of human-induced climate change.

    In France, where temperatures are expected to peak on Tuesday and Wednesday, wildfires broke out on Sunday in the southwestern Aude department, where temperatures topped 40 degrees Celsius (104 degrees Fahrenheit), burning 400 hectares and forcing the evacuation of a campsite and an abbey, authorities and local media said.

    The fires were under control but not yet extinguished, authorities said on Monday.

    Weather service Meteo France put a record 84 of the country’s 101 departments on an orange heatwave alert from Monday until midweek. About 200 schools will be at least partially shut over the next three days because of the heat, the Education Ministry said.

    HEATWAVE IMPACTS RHINE SHIPPING

    The heatwave has lowered water levels on Germany’s Rhine River, hampering shipping and raising freight costs for cargo owners, commodity traders said.

    The Rhine is an important shipping route for commodities such as grains, minerals and oil products. Forecasters said temperatures as high as 40 C are possible in Cologne.

    In Seville, southern Spain, where global leaders were gathering for a United Nations conference, temperatures were expected to hit 42 C.

    Tourists were trying to deal with the heat. “Really hard currently,” Mehrzad Joussefi, from the Netherlands, said.

    Spain is on course for its hottest June on record, the national meteorological service AEMET said.

    Most of the country remains under alert for heat, with AEMET forecasting the peak of the heatwave on Monday.

    “Over the next few days, at least until Thursday, intense heat will continue in much of Spain,” said Ruben del Campo, a spokesperson for the weather agency.

    Italy’s Health Ministry issued heatwave red alerts for 21 cities, including Rome and Milan. Weather forecast website IlMeteo.it said temperatures on Monday would go as high as 41 C in Florence, 38 C in Bologna and 37 C in Perugia.

    The Lombardy region, part of Italy’s northern industrial heartland, is planning to ban open-air work in the hottest times of the day, heeding a request from trade unions, its president said on Monday.

    Heat can affect health in various ways, and experts are most concerned about older people and babies, as well as outdoor labourers and people struggling economically.

    Globally, extreme heat kills up to 480,000 people annually, surpassing the combined toll from floods, earthquakes and hurricanes, and poses growing risks to infrastructure, the economy and healthcare systems, Swiss Re said earlier this month.

    Global surface temperatures last month averaged 1.4 C higher than in the 1850-1900 pre-industrial period, when humans began burning fossil fuels on an industrial scale, the EU’s Copernicus Climate Change Service (C3S) said earlier this month.

    Scientists say the main cause of climate change is greenhouse gas emissions from burning fossil fuels. Last year was the planet’s hottest on record.

    (Reuters)

  • Wildfires burn in Turkey and France as early heatwave hits

    Source: Government of India

    Source: Government of India (4)

    Firefighters battled wildfires in Turkey and France on Monday as an early heatwave hit the region.

    In Turkey, the wildfires raged for a second day in the western province of Izmir, fanned by strong winds, Forestry Minister Ibrahim Yumakli said, forcing the evacuation of four villages and two neighbourhoods.

    Media footage showed teams using tractors with water trailers and helicopters carrying water, as smoke billowed over hills marked with charred trees.

    Turkey’s coastal regions have in recent years been ravaged by wildfires, as summers have become hotter and drier, which scientists say is a result of human-induced climate change.

    In France, where temperatures are expected to peak on Tuesday and Wednesday, wildfires broke out on Sunday in the southwestern Aude department, where temperatures topped 40 degrees Celsius (104 degrees Fahrenheit), burning 400 hectares and forcing the evacuation of a campsite and an abbey, authorities and local media said.

    The fires were under control but not yet extinguished, authorities said on Monday.

    Weather service Meteo France put a record 84 of the country’s 101 departments on an orange heatwave alert from Monday until midweek. About 200 schools will be at least partially shut over the next three days because of the heat, the Education Ministry said.

    HEATWAVE IMPACTS RHINE SHIPPING

    The heatwave has lowered water levels on Germany’s Rhine River, hampering shipping and raising freight costs for cargo owners, commodity traders said.

    The Rhine is an important shipping route for commodities such as grains, minerals and oil products. Forecasters said temperatures as high as 40 C are possible in Cologne.

    In Seville, southern Spain, where global leaders were gathering for a United Nations conference, temperatures were expected to hit 42 C.

    Tourists were trying to deal with the heat. “Really hard currently,” Mehrzad Joussefi, from the Netherlands, said.

    Spain is on course for its hottest June on record, the national meteorological service AEMET said.

    Most of the country remains under alert for heat, with AEMET forecasting the peak of the heatwave on Monday.

    “Over the next few days, at least until Thursday, intense heat will continue in much of Spain,” said Ruben del Campo, a spokesperson for the weather agency.

    Italy’s Health Ministry issued heatwave red alerts for 21 cities, including Rome and Milan. Weather forecast website IlMeteo.it said temperatures on Monday would go as high as 41 C in Florence, 38 C in Bologna and 37 C in Perugia.

    The Lombardy region, part of Italy’s northern industrial heartland, is planning to ban open-air work in the hottest times of the day, heeding a request from trade unions, its president said on Monday.

    Heat can affect health in various ways, and experts are most concerned about older people and babies, as well as outdoor labourers and people struggling economically.

    Globally, extreme heat kills up to 480,000 people annually, surpassing the combined toll from floods, earthquakes and hurricanes, and poses growing risks to infrastructure, the economy and healthcare systems, Swiss Re said earlier this month.

    Global surface temperatures last month averaged 1.4 C higher than in the 1850-1900 pre-industrial period, when humans began burning fossil fuels on an industrial scale, the EU’s Copernicus Climate Change Service (C3S) said earlier this month.

    Scientists say the main cause of climate change is greenhouse gas emissions from burning fossil fuels. Last year was the planet’s hottest on record.

    (Reuters)

  • 2003 Bihar electoral rolls uploaded on ECI website to aid ongoing revision drive

    Source: Government of India

    Source: Government of India (4)

    Ahead of the upcoming assembly elections in Bihar, the Election Commission of India (ECI) has uploaded the 2003 Electoral Rolls of the state on its official portal, providing access to details of approximately 4.96 crore electors.

    In line with the ECI’s instructions dated June 24, 2025, Chief Electoral Officers, District Electoral Officers, and Electoral Registration Officers have been directed to make the 2003 rolls freely available to all Booth Level Officers (BLOs) in both hard copy and digital formats. This allows electors and officials to easily verify details while filling out the Enumeration Form.

    The availability of the 2003 Electoral Roll is expected to ease the documentation process for nearly 60% of Bihar’s electorate, who now only need to verify their details from the roll and submit the form without any additional documents. Those not listed in the 2003 roll may still use the relevant extract for their parents, eliminating the need for other supporting documents for them, though personal documents will still be required.

    The ECI emphasized that the revision of electoral rolls before every election is a legal mandate under Section 21(2)(a) of the Representation of the People Act, 1950, and Rule 25 of the Registration of Electors Rules, 1960. For 75 years, the Commission has consistently carried out annual roll revisions – both intensive and summary – to ensure accuracy.

    Given the dynamic nature of the Electoral Roll, which changes due to deaths, migration, and the addition of new voters turning 18, such revisions are critical. As per Article 326 of the Constitution, only Indian citizens aged 18 and above who are ordinarily resident in a constituency are eligible to be registered as electors.

  • PM Modi highlights policy and innovation driving India’s rise as a global steel leader

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday shared an article emphasizing the crucial role of policy initiatives and innovation in propelling India’s steel industry toward global leadership.

    In reply to a social media post by Union Minister H.D. Kumaraswamy on X, the Prime Minister said, “From infrastructure and defence to electric mobility and clean energy, steel is the backbone of a rising India.”

    “Union Minister Shri @hd_kumaraswamy outlines how policy push and innovation are shaping India’s journey to becoming a global steel leader,” the PM added in his post.

    https://x.com/PMOIndia/status/1939593900177457650?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1939593900177457650%7Ctwgr%5E0d7f26acc5c3a0bacd63479d7a3c69afccad16d2%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.pib.gov.in%2FPressReleasePage.aspx%3FPRID%3D2140718

  • Blast in Telangana chemical factory kills at least eight; PM Modi announces ₹2 lakh ex-gratia

    Source: Government of India

    Source: Government of India (4)

    At least eight people were killed and 26 others injured in an explosion at a chemical factory in Telangana’s Sangareddy district on Monday. Prime Minister Narendra Modi expressed sorrow over the loss of lives and announced an ex-gratia of ₹2 lakh for the next of kin of each deceased and ₹50,000 for the injured from the Prime Minister’s National Relief Fund (PMNRF).

    In a post on social media platform X, the Prime Minister’s Office said:
    “Anguished by the loss of lives due to a fire tragedy at a factory in Sangareddy, Telangana. Condolences to those who have lost their loved ones. May the injured recover soon. An ex-gratia of ₹2 lakh from PMNRF would be given to the next of kin of each deceased. The injured would be given ₹50,000: PM @narendramodi.”

    V. Satyanarayana, Inspector General of Police, Multi Zone II, said, “There was a blast at Sigachi Pharma, a chemical production factory in Pasamailaram. The incident occurred between 8:15 and 9:35 am, and the police were informed within 10 minutes. We reached the spot within 20 minutes. NDRF, SDF, and other rescue teams, along with 10 fire engines, arrived at the scene. So far, six bodies have been recovered, and two more people died while undergoing treatment at Chanda Nagar.”

    “A total of eight people have died, and 26 are injured, with two or three in critical condition. Government officials are providing all necessary medical care. There were 150 workers on shift, with 90 present in the blast area. Firefighting operations are ongoing, and the rescue mission is still in progress. Further details will be shared soon,” he added.

    ANI

  • MIL-OSI United Nations: UNDRR ONEA and GETI Newsletter 46: Apr-Jun 2025

    Source: UNISDR Disaster Risk Reduction

    In the second quarter of 2025, UNDRR ONEA & GETI and its partners have recently led a series of capacity-building initiatives to strengthen disaster risk reduction (DRR), urban resilience, and climate adaptation across regions. Highlights include Korea’s contributions were showcased at the 8th GP2025, including school safety training and smart city operations for Incheon educators, technical workshops in Togo on DRR tools and early warning systems, innovative masterclasses on resilient housing and infrastructure, and training programs for urban and private sector resilience. Collaborative events such as the UNDRR–WCCD workshops in Vaughan and Ajman emphasized data-driven resilience, while webinars with CCFLA and MCR2030 explored climate finance and project implementation. Other notable efforts included advancing disability inclusion in DRR, an online workshop on risk-informed governance and climate finance co-hosted with UNPOG and UNITAR, and a partnership with Brihanmumbai Municipal Corporation and KPMG India to bolster urban resilience in Mumbai.

    Download

    Links last checked: 30 June 2025

    MIL OSI United Nations News –

  • MIL-OSI Economics: RBI releases the Financial Stability Report, June 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released the June 2025 issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability.

    Highlights:

    • Elevated economic and trade policy uncertainties are testing the resilience of the global economy and the financial system.

    • Financial markets remain volatile, especially core government bond markets, driven by shifting policy and geopolitical environment. Alongside, existing vulnerabilities such as soaring public debt levels and elevated asset valuations have the potential to amplify fresh shocks.

    • Despite an uncertain and challenging global economic backdrop, the Indian economy remains a key driver of global growth, underpinned by sound macroeconomic fundamentals and prudent macroeconomic policies.

    • The domestic financial system is exhibiting resilience fortified by healthy balance sheets of banks and non-banks. Financial conditions have eased supported by accommodative monetary policy and low volatility in financial markets. The strength of the corporate balance sheets also lends support to overall macroeconomic stability.

    • The soundness and resilience of scheduled commercial banks (SCBs) are bolstered by robust capital buffers, multi-decadal low non-performing loans ratio and strong earnings.

    • Results of macro stress tests affirm that most SCBs have adequate capital buffers relative to the regulatory minimum even under adverse stress scenarios. Stress tests also validate the resilience of mutual funds and clearing corporations.

    • Non-banking financial companies (NBFCs) remain healthy with sizable capital buffers, robust earnings and improving asset quality.

    • The consolidated solvency ratio of the insurance sector also remains above the minimum threshold limit.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/624

    MIL OSI Economics –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI: First Merchants Corporation to Report Second Quarter 2025 Financial Results, Host Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    MUNCIE, Ind., June 30, 2025 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq:FRME) will release second quarter 2025 financial results on July 23, 2025. The Corporation will host a second quarter 2025 earnings conference call and webcast at 9:00 a.m. (ET) on Thursday, July 24, 2025.

    To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: (https://register-conf.media-server.com/register/BI605c2e360ce04cfc9c4221bda7f67a49)

    In order to view the webcast and presentation slides, please go to (https://edge.media-server.com/mmc/p/ced58zg3) during the time of the call. A replay of the webcast will be available until July 24, 2026.  

    About First Merchants Corporation

    First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

    First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

    FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

    FOR IMMEDIATE RELEASE
    For more information, contact:
    Nicole M. Weaver, First Vice President and Director of Corporate Administration
    765-521-7619
    http://www.firstmerchants.com

    The MIL Network –

  • MIL-OSI USA: NASA Welcomes Axiom Mission 4 to the International Space Station

    Source: NASA

    A SpaceX Dragon spacecraft carrying the Axiom Mission 4 crew docks to the space-facing port of the International Space Station’s Harmony module on June 26. Axiom Mission 4 is the fourth all-private astronaut mission to the orbiting laboratory, welcoming commander Peggy Whitson, former NASA astronaut and director of human spaceflight at Axiom Space, ISRO (Indian Space Research Organisation) astronaut and pilot Shubhanshu Shukla, and mission specialists ESA (European Space Agency) project astronaut Sławosz Uznański-Wiśniewski of Poland and HUNOR (Hungarian to Orbit) astronaut Tibor Kapu of Hungary.
    The crew is scheduled to remain at the space station, conducting microgravity research, educational outreach, and commercial activities, for about two weeks. This mission serves as an example of the success derived from collaboration between NASA’s international partners and American commercial space companies.

    MIL OSI USA News –

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)

  • Govt drafts emission targets for over 460 industries under carbon market plan

    Source: Government of India

    Source: Government of India (4)

    The Ministry of Environment has issued a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units as part of India’s first compliance-based carbon market.

    The move, aimed at curbing industrial emissions and accelerating decarbonisation, will apply to sectors such as aluminium, iron and steel, petroleum refining, petrochemicals, and textiles.

    Titled the Greenhouse Gas Emission Intensity Target Rules, 2025, the draft, dated June 23, forms part of the Carbon Credit Trading Scheme (CCTS), 2023.

    The scheme requires designated industries – referred to as “obligated entities” – to reduce their GHG emissions per unit of output over time, or compensate by purchasing carbon credit certificates from the Indian Carbon Market.

    According to the draft, “The obligated entity shall achieve the Greenhouse Gases Emissions Intensity (GEI) targets in the respective compliance year… or meet its GEI target by purchasing carbon credit certificates from the Indian carbon market.”

    If implemented, the targets will become legally enforceable from the date of final notification.

    As per the draft, failure to comply will attract financial penalties and legal consequences under the Environment (Protection) Act, 1986.

    The targets will be assigned for two compliance years – 2025-26 and 2026-27 – based on baseline emission intensity data from 2023-24.

    The draft includes a list of 264 industrial units along with their baseline emission levels and reduction targets for the compliance years 2025-26 and 2026-27.

    The Bureau of Energy Efficiency (BEE) will determine these targets using sectoral benchmarks and past performance. Greenhouse gas emission intensity (GEI) is defined as tonnes of CO2 equivalent emitted per unit of output or product.

    For example, Hindalco Industries’ Taloja aluminium plant in Maharashtra, which had a baseline GEI of 1.3386 tCO2 per tonne in 2023-24, must reduce that figure to 1.2563 by 2026-27. In the steel sector, Arcelor Mittal Nippon Steel India’s Hazira facility – India’s largest obligated entity by production volume – must cut its emission intensity from 2.2701 to 2.1696 tCO2 per tonne during the same period.

    The rules also cover the petroleum refining sector. BPCL’s Bina Refinery in Madhya Pradesh, with a crude throughput of over 51 million barrels, has been assigned a GEI reduction trajectory from 5.2312 tCO2/MBBLS in 2023-24 to 4.8553 by 2026-27. BPCL’s Kochi
    Refinery, one of the largest in the country, must bring down its GEI from 4.5745 to 4.4230 tCO2/MBBLS in the same time frame.

    Entities that emit less than their targets will receive carbon credit certificates, calculated as the difference between the GEI target and actual GEI, multiplied by the total production volume.

    Conversely, those exceeding their targets must buy the difference in credits from the Indian Carbon Market. “The number of carbon credit certificates to be issued… shall be determined as per the following formula: (GEI Target – GEI Achieved) x Unit of equivalent product produced,” the draft states.

    Unused credits can be banked for future use, allowing companies some flexibility across compliance years.

    However, if an entity fails to meet its target and does not purchase the required credits, the Central Pollution Control Board (CPCB) will impose an Environmental Compensation.

    This amount will be “equal to twice the average price at which a carbon credit certificate is traded during the trading cycle,” as per the notification. The penalty must be paid within 90 days.

    Funds collected will be used to support carbon market operations, upon recommendation of the National Steering Committee and approval of the Centre.

    The ministry has invited comments, objections, or suggestions from the public and industry stakeholders. Submissions must be made within 60 days of the draft’s publication and can be emailed to ccts.hsm-moefcc@gov.in.

    (ANI)