Category: Government of India

  • Both countries just warming up, will score faster and more: PM Modi in historic address at Namibian Parliament

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi addressed Namibia’s National Assembly in Windhoek on Wednesday, opening his remarks with a greeting in Oshiwambo, “Omwa Uhala Po Nawa” — meaning “Good Afternoon”. PM Modi thanked the Speaker, the Namibian leadership and lawmakers for the invitation, describing the chamber as a “temple of democracy”.

    Speaking in the Assembly, PM Modi congratulated Namibia on electing its first woman president, Netumbo Nandi-Ndaitwah, and drew comparisons with India’s own record of inclusivity. “It is the power of India’s Constitution that a daughter from a poor tribal family is today the President of India,” the Prime Minister said, referring to President Droupadi Murmu. “When you have nothing, the Constitution gives you everything.”

    Paying tribute to Namibia’s Founding Father, the late President Sam Nujoma, PM Modi recalled his vision of a just, equal and independent Namibia. He also honoured the memory of freedom fighters such as Hosea Kutako, Hendrik Witbooi and Mandume Ya Ndemufayo, underlining India’s solidarity with Namibia during its liberation struggle.

    The PM noted that India raised the issue of South West Africa at the United Nations even before its own independence and provided crucial support to SWAPO, hosting its first foreign diplomatic office in New Delhi. He also highlighted the contribution of Lieutenant General Diwan Prem Chand, who led the UN peacekeeping force in Namibia.

    Quoting Namibian poet Mvula ya Nangolo, he described Namibia’s parliament and its democracy as living monuments to freedom.

    Reaffirming the strong bonds between the two nations, PM Modi described India and Namibia as partners shaped by similar histories of colonial rule and a shared commitment to dignity, freedom and democracy. He expressed gratitude for receiving Namibia’s highest civilian honour, describing the gesture as a symbol of enduring friendship.

    The Prime Minister stressed India’s support for Namibia’s Vision 2030 and the Harambee Prosperity Plan, noting that over 1,700 Namibians have benefited from Indian scholarships and training programmes. He underlined India’s focus on capacity-building through institutions such as the Centre of Excellence in IT and defence training programmes.

    Highlighting growing economic ties, PM Modi noted that bilateral trade has surpassed $800 million and expressed optimism for greater growth. “But just like on the cricket field, we are only warming up — we will score faster and score more,” he stressed.

    PM Modi also welcomed Namibia’s adoption of India’s Unified Payments Interface (UPI), saying it would empower ordinary Namibians to make fast, secure digital transactions. The PM pointed to the upcoming Entrepreneurship Development Centre in Namibia as a hub for nurturing business ideas and expanding opportunities for young Namibians.

    PM Modi also underscored healthcare cooperation, mentioning India’s flagship health insurance scheme, Ayushman Bharat, which covers nearly 500 million people, and offered to share affordable medicines through India’s Jan Aushadhi programme. He announced India’s readiness to supply Namibia with a Bhabhatron radiotherapy machine for advanced cancer care and expressed hope that Namibia would benefit from India’s initiatives in digital health and capacity-building.

    The PM thanked Namibia for its support in India’s cheetah reintroduction project and shared that the translocated cheetahs have adapted well in their new home, symbolising the two countries’ shared commitment to conservation.

    Welcoming Namibia’s decision to join global initiatives such as the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, the Global Biofuels Alliance and the International Big Cats Alliance, PM Modi described these as examples of cooperation for sustainable development.

    Speaking on India’s partnership with Africa, the Prime Minister reiterated the ten principles guiding India’s engagement with the continent — rooted in respect, equality and mutual benefit. He underscored India’s role in supporting Africa’s industrialisation under Agenda 2063 and its commitment to building local skills, creating jobs and promoting innovation.

    PM Modi called for the Global South to shape its own future, saying that India’s development journey is proof that nations can succeed on their own terms without compromising their identity. He urged both nations to work together as partners for peace, progress and prosperity, envisioning a future guided by partnership, dialogue and equity. “Let us move forward as partners, so that our children inherit not only the freedom we fought for, but also the future we build together,” he said.

    Additionally, PM Modi wished Namibia success in co-hosting the 2027 Cricket World Cup, playfully adding that India’s cricketing expertise is just a phone call away if Namibia’s national team, the Eagles, ever needs it.

    “The best days of India–Namibia relations are ahead of us,” PM Modi said, expressing confidence in the shared journey from freedom to a future of dignity and opportunity for both nations.

  • PM Modi calls for stronger ties, deeper Global South cooperation in Namibia Parliament address

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday addressed the Parliament of Namibia during his state visit, calling for closer cooperation between the two democracies and reiterating India’s commitment to the progress of Africa and the Global South.

    Speaking at the invitation of National Assembly Speaker Saara Kuugongelwa, the Prime Minister described the opportunity to speak before the Namibian lawmakers as a “special gesture” that added meaning to his trip.

    Addressing the Parliament, the PM conveyed greetings from the “Mother of Democracy” and the world’s largest democracy to the members of the House and the people of Namibia. Recalling the historic bonds between the two nations and their parallel struggles for freedom, PM Modi paid homage to Namibia’s founding President Dr. Sam Nujoma, calling him a towering figure in the global fight for liberation and justice.

    The Prime Minister said that the democratic values championed by the founding fathers of both India and Namibia continue to illuminate the path of development. He also lauded Namibia’s efforts in strengthening its democratic institutions, and the role played by its government and citizens in deepening democracy.

    PM Modi expressed gratitude to the people of Namibia for conferring on him the country’s highest national honour. Calling it a tribute not just to him but to the achievements of Indian and Namibian democracies, the PM described both nations as “sentinels of freedom, equality and justice.”

    The Prime Minister urged the two countries to work closely for the betterment of the Global South and to ensure that the voices, hopes and aspirations of its people are fully realized. 

    Citing India’s G-20 presidency, during which the African Union was granted permanent membership, PM Modi said the move underscored India’s long-standing commitment to Africa’s rise.

    “India will always work for the progress of Africa,” PM Modi said, adding that New Delhi is proud to share its development experiences with Namibia and other countries on the continent. He reaffirmed India’s support for Africa’s Agenda 2063 and said that the partnership will focus on building capacity, developing skills, encouraging local innovation, and fostering inclusive growth.

    Thanking the Namibian Speaker for the honour of addressing the House, the Prime Minister made a pitch for enhanced people-to-people exchanges between the two countries. “Let our children not only inherit the freedom we fought for, but also the future we will build together,” he said.

  • PM Modi calls for stronger ties, deeper Global South cooperation in Namibia Parliament address

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday addressed the Parliament of Namibia during his state visit, calling for closer cooperation between the two democracies and reiterating India’s commitment to the progress of Africa and the Global South.

    Speaking at the invitation of National Assembly Speaker Saara Kuugongelwa, the Prime Minister described the opportunity to speak before the Namibian lawmakers as a “special gesture” that added meaning to his trip.

    Addressing the Parliament, the PM conveyed greetings from the “Mother of Democracy” and the world’s largest democracy to the members of the House and the people of Namibia. Recalling the historic bonds between the two nations and their parallel struggles for freedom, PM Modi paid homage to Namibia’s founding President Dr. Sam Nujoma, calling him a towering figure in the global fight for liberation and justice.

    The Prime Minister said that the democratic values championed by the founding fathers of both India and Namibia continue to illuminate the path of development. He also lauded Namibia’s efforts in strengthening its democratic institutions, and the role played by its government and citizens in deepening democracy.

    PM Modi expressed gratitude to the people of Namibia for conferring on him the country’s highest national honour. Calling it a tribute not just to him but to the achievements of Indian and Namibian democracies, the PM described both nations as “sentinels of freedom, equality and justice.”

    The Prime Minister urged the two countries to work closely for the betterment of the Global South and to ensure that the voices, hopes and aspirations of its people are fully realized. 

    Citing India’s G-20 presidency, during which the African Union was granted permanent membership, PM Modi said the move underscored India’s long-standing commitment to Africa’s rise.

    “India will always work for the progress of Africa,” PM Modi said, adding that New Delhi is proud to share its development experiences with Namibia and other countries on the continent. He reaffirmed India’s support for Africa’s Agenda 2063 and said that the partnership will focus on building capacity, developing skills, encouraging local innovation, and fostering inclusive growth.

    Thanking the Namibian Speaker for the honour of addressing the House, the Prime Minister made a pitch for enhanced people-to-people exchanges between the two countries. “Let our children not only inherit the freedom we fought for, but also the future we will build together,” he said.

  • PM Modi holds talks with Namibian President, discusses trade, defence and digital cooperation

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi met Namibian President Netumbo Nandi-Ndaitwah at the State House in Windhoek on Wednesday during his state visit. The Prime Minister was warmly welcomed by Nandi-Ndaitwah and accorded a ceremonial reception on arrival.

    This marks the first visit by an Indian Prime Minister to Namibia in 27 years and is also the first bilateral state visit hosted by Nandi-Ndaitwah since she assumed office in March this year.

    Congratulating Nandi-Ndaitwah on her election, the PM recalled the deep historical ties between the two countries and conveyed condolences on the passing of Namibia’s Founding Father and first President, Dr. Sam Nujoma, earlier this year.

    During their talks, the two leaders discussed ways to expand bilateral cooperation across various sectors, including defence, maritime security, digital technology and UPI, agriculture, health and pharmaceuticals, energy, and critical minerals. They welcomed the steady growth in trade and called for expediting discussions on an India-SACU Preferential Trade Agreement to unlock greater economic potential.

    The Prime Minister assured India’s commitment to scaling up development cooperation with Namibia through capacity building and partnerships in establishing manufacturing facilities. He offered India’s support for Quick Impact development projects in areas such as agriculture, IT, cyber security, healthcare, education, women’s empowerment, and child welfare. Sharing India’s experience in using drones for agriculture, the PM suggested the technology could add value for Namibian farmers.

    PM Modi also thanked Namibia for its role in India’s cheetah conservation project and invited the country to join the International Big Cat Alliance.

    Both leaders discussed global issues of mutual concern, including strengthening the fight against terrorism. The PM thanked Namibia for its support following the recent terror attack in Pahalgam and stressed the need to amplify the voice of the Global South.

    Two MoUs were also exchanged in health and entrepreneurship during the meeting.

    Namibia announced its decision to join the Coalition for Disaster Resilient Infrastructure and the Global Biofuels Alliance, becoming the first country to sign a licensing agreement to adopt India’s UPI technology.

    Nandi-Ndaitwah later hosted a banquet in honour of PM Modi, who invited her to visit India at a mutually convenient date.

  • PM Modi pays tribute to Namibia’s Founding Father Dr. Sam Nujoma at Heroes Acre Memorial

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday paid homage to Namibia’s Founding Father and first President, Dr. Sam Nujoma, at the Heroes Acre memorial during his state visit to the country.

    Remembering Dr. Nujoma as a visionary leader, the Prime Minister said he devoted his entire life to Namibia’s struggle for independence and laid a strong foundation for the nation as its first President. “His inspiring contribution to nation-building continues to motivate people across the world,” PM Modi noted.

    Dr. Nujoma shared a close bond with India. His presence during the establishment of Namibia’s first-ever diplomatic mission — the SWAPO office — in New Delhi in 1986 is fondly remembered as a symbol of enduring friendship between the two nations.

  • Heavy rains lash Delhi-NCR, IMD issues red alert amid traffic chaos

    Source: Government of India

    Source: Government of India (4)

    A sudden spell of heavy rain battered Delhi and the National Capital Region (NCR) on Wednesday, leading to widespread waterlogging, traffic disruptions, and a red alert from the India Meteorological Department (IMD).

    The IMD, in its latest advisory, warned that the weather system moving eastward is expected to bring moderate rainfall across most parts of the region, with isolated pockets likely to witness heavy downpours over the next few hours.

    Light to moderate rain had already begun in several eastern parts of Delhi by evening, and conditions were rapidly intensifying.

    Authorities have flagged a high risk of localized flooding on roads, particularly in low-lying areas across Delhi-NCR. Several underpasses in vulnerable zones may face temporary closures due to rising water levels, while traffic movement across key stretches is expected to slow down significantly.

    The IMD cautioned that heavy rain could lead to occasional reductions in visibility, especially for motorists navigating slippery and waterlogged roads, raising the risk of accidents and extended traffic snarls. Daily life and outdoor business operations are also likely to be impacted.

    In addition to urban disruptions, the downpour could potentially damage plantations, horticultural assets, and standing crops. Temporary structures and weak constructions, particularly in informal settlements, may suffer partial damage due to strong winds and water seepage.

    The IMD has urged residents to follow all advisories issued by civic authorities and to avoid non-essential travel. People are advised to stay indoors, keep doors and windows securely shut, and avoid taking shelter under trees during the storm due to the risk of lightning.

    Meanwhile, the IMD also issued an orange alert for the national capital, forecasting moderate rainfall accompanied by light thunderstorms and lightning across Delhi and adjoining areas. The day’s maximum temperature was expected to settle around 35°C, with the minimum hovering near 24°C.

    —IANS

  • PM Modi awarded Namibia’s highest civilian honour during state visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday was conferred with Namibia’s highest civilian honour, ‘The Order of the Most Ancient Welwitschia Mirabilis’, during his one-day state visit to the African nation.

    The award was presented by the President of Namibia, Netumbo Nandi-Ndaitwah, at a special ceremony, marking a new milestone in the ties between the two nations.

    Accepting the award, the PM dedicated it to the 1.4 billion people of India and to the historic and enduring partnership between India and Namibia. “I accept this honour with deep gratitude, and I dedicate it to the people of India and the timeless bond our two countries share,” the Prime Minister said, expressing his heartfelt thanks to Nandi-Ndaitwah and the people of Namibia.

    PM Modi is the first Indian leader to receive this honour.

    Established in 1995, the award recognises distinguished service and leadership. It is named after the Welwitschia Mirabilis, a unique desert plant found only in Namibia that symbolises resilience, longevity and the enduring spirit of its people.

    This is PM Modi’s 27th international honour, the fourth during his ongoing five-nation tour and the second in less than 24 hours.

  • Lord’s Test: Jofra Archer makes hotly-anticipated return to England team for 3rd Test against India

    Source: Government of India

    Source: Government of India (4)

    England’s Jofra Archer has been named in the team to face India in the third test of the series at Lord’s, England’s cricket board (ECB) announced on Wednesday, as the fast bowler prepares for his first test in more than four years.

    Archer will replace fellow seamer Josh Tongue, the only change England have made, for the third test that starts on Thursday. Tongue picked up only four wickets and conceded more than 200 runs in the two innings.

    Archer has not played in the longest format since England faced India in Ahmedabad in February 2021. The 30-year-old has taken 42 wickets in 13 tests and although he was added to the squad for the second test, he was not included in the team.

    However, England coach Brendon McCullum said Archer was in the frame for the third test after putting his fitness woes behind him.

    A series of physical problems kept delaying his return to red-ball cricket, including elbow injuries, back issues and a thumb injury.

    “Really exciting, it’s great for English fans, but also for Jof. It’s been a long time coming for him. I think the way in which he’s handled the injury setbacks over that period has been very commendable,” England skipper Ben Stokes told reporters.

    “And then the way in which he’s got himself back onto the field and playing cricket over a long period of time now. It was exciting to have him back in the squad and in contention for last week, but now we can say he’s in the playing 11.

    “Jof’s going to be pretty proud of himself that he’s managed to get himself back here after two pretty big injury scares.”

    Stokes had also said they would consider fresh legs with such a quick turnaround time between the second and third test, especially after England’s bowlers bowled 234 overs in the second test that India won by 336 runs.

    England struggled to take wickets against India, who scored more than 1,000 runs in a test match for the first time in history in the second match and the hosts will hope Archer’s pace can be a lethal weapon at Lord’s.

    England will also be wary of India’s record at Lord’s, where they have more wins (three) than any other venue in England.

    The series is tied at 1-1 after England won the first test at Headingley before India won a test for the first time at Edgbaston on Sunday.

    ENGLAND TEAM

    Zak Crawley, Ben Duckett, Ollie Pope, Joe Root, Harry Brook, Ben Stokes (captain), Jamie Smith (wicketkeeper), Chris Woakes, Brydon Carse, Jofra Archer, Shoaib Bashir.

    -Reuters

  • SEBI bars Jane Street over alleged Bank Nifty manipulation

    Source: Government of India

    Source: Government of India (4)

    Jane Street has been barred from the Indian securities market by its markets regulator, which has said the U.S. firm used its trading strategies to “manipulate” a key stock market index, leading to losses for millions of retail investors, allegations Jane Street has rejected.

    WHAT EXACTLY IS SEBI ACCUSING JANE STREET OF DOING?

    The Securities and Exchange Board of India (SEBI) in its interim order said Jane Street accumulated large volumes of constituent stocks of the Bank Nifty index, which comprises the 12 top Indian bank stocks, in the cash and futures markets, thus pushing up the index prices.

    Simultaneously, Jane Street took short positions in the derivatives segment by buying cheap “put” options and selling expensive “call” options linked to the Bank Nifty, the regulator said.

    The SEBI order said that during the second half of most days in which Jane Street’s positions were studied, the U.S. firm reversed the first leg of its trade, selling the constituents in the cash and futures markets, thereby pushing down the price of the index and its constituents.

    This, in turn, led to a rise in value for the “put” options and a drop in value for “call” options, earning Jane Street large profits, which outweighed any losses that were incurred during the first leg of the trade.

    SEBI said this trading pattern created “a false or misleading appearance of market activity” and attracted “unsuspecting” investors to trade at levels that were “artificial and temporary”.

    WHAT IS JANE STREET SAYING ABOUT ITS INDIA TRADING STRATEGY?

    Jane Street, in an internal email to its employees, said the activities in question were what is known as an “arbitrage trade”, which is commonly used by large trading firms in financial markets.

    In an arbitrage trade, firms simultaneously buy and sell the same asset in different markets and pocket the profits from the difference in prices.

    In its internal memo, Jane Street argued there was a large gap between the price of the Bank Nifty index in the options markets and the price implied by the level at which the stocks were trading. This divergence, it said, was clearly observed and Jane Street traded in a direction consistent with closing that gap.

    Arbitrage trading is legal in India.

    WHAT FACTORS WERE CRUCIAL TO JANE STREET’S INDIA STRATEGY?

    According to details in the SEBI order, the first is size.

    In the first leg of the trade, where Jane Street was buying shares of constituents of the Bank Nifty Index, it was doing so in volumes large enough to move the index.

    Its trades made up 15%-25% of the entire market’s traded value in the constituents of the banking index, SEBI said.

    The second is the distortions between the cash and derivative markets in India.

    India’s derivatives-to-cash market ratio in terms of volume is the highest in the world, SEBI said. In 2024, this ratio was 400 times.

    In its order, SEBI highlighted Jane Street’s trading activities on January 17, 2024 – one of the trading days under investigation – saying the U.S. firm traded roughly $1.2 trillion (103 trillion rupees) worth of cash-settled options on the Nifty Bank index.

    That amount equates to roughly 353 times the trading volumes of the bank stocks in the index.

    WHO ARE THE LOSERS IN INDIA’S DERIVATIVES MARKET?

    Proprietary trading giants such as Jane Street have made hefty profits from India’s derivatives market, which accounts for roughly 61% of equity options contracts that are currently traded worldwide, according to data from the Futures Industry Association.

    In the 12 months to March 2024, proprietary traders and foreign investors made gross profits of 330 billion rupees and 280 billion rupees, respectively, a SEBI study in September 2024 showed.

    During that same period, retail traders lost 524 billion rupees.

    On Monday, SEBI said retail investor losses on derivative trades widened by 41% to 1.06 trillion rupees in the subsequent year. It did not blame proprietary traders for the widening losses of retail investors and nor did it provide fresh data on gains made by proprietary traders.

    WHAT ARE THE NEXT STEPS FOR JANE STREET AND SEBI?

    SEBI has seized $567 million of Jane Street’s funds, equivalent to the amount of what it calls “unlawful gains”.

    The U.S. firm can deposit that amount and regain access to the Indian markets. It also has 21 days to file its reply or any objections to the order, and can also challenge the order judicially via the Securities Appellate Tribunal.

    SEBI, meanwhile, is working on a final order and also expanding its investigation into Jane Street’s trade on indexes other than the Bank Nifty.

    -Reuters

  • Are flash floods directly linked to climate change?

    Source: Government of India

    Source: Government of India (4)

    The catastrophic flash floods in Texas a couple of days earlier, triggered by extremely heavy rainfall, which caused over 100 deaths and widespread destruction, have once again raised a pressing question- are flash floods directly linked to climate change? Successive research by environmental agencies corroborates this, saying climate change is a significant factor in the increased risk, frequency and intensity of floods in several parts of the world.

    Research suggests human-caused climate change is driving more and more extreme weather conditions, which include extremely heavy and sometimes untimely rains, which directly contribute to flooding, especially when proper city planning is not in place.

    Studies say warmer temperatures cause a more moisture-laden atmosphere, which turns into more intense rainfall with increased frequency. The recent Texas floods were found to have been made significantly worse by climate change, as atmospheric conditions favoured slow-moving thunderstorms, which caused heavy rains in the same area for hours. Warmer global temperatures have increased the atmosphere’s capacity to hold moisture, resulting in heavier and more concentrated rainfall events that can overwhelm drainage systems and waterways.

    In layman’s terms, climate change leads to higher global temperatures and warmer air holds more moisture. Climate-related researches say with every one-degree Celsius rise in temperature, the atmosphere’s capacity to hold more water vapour rises by about 7%.

    It can be understood from the fact that the recent very heavy rainstorms in Texas delivered about 20% more rainfall than they did in the late 1950s, a time when global temperatures were considerably lower, according to the National Climate Assessment. As climate change continues to warm the planet, extreme rainfall events in Texas are projected to become even more frequent in the coming decade, as highlighted in a 2024 report by the state’s climatologist. The worry is that it’s not just Texas, but across the US, the heaviest storms are predicted to produce more rain as the Earth continues to warm.

    Such storms can trigger deadly flooding far inland, which was on full display in 2024 when Hurricane Helene caused severe flooding across Appalachia. Similarly, in 2021, flash floods caused by Hurricane Ida claimed dozens of lives in the Northeastern US. According to the National Climate Assessment, more than one-third of the estimated 230 billion dollar in inland flood damage in the US between 1988 and 2021 would not have occurred without climate change.

    Storms increase the likelihood of intense and short-duration rainfall in several parts of the globe, which is becoming a major trigger for flash floods. Moreover, climate change also gives rise to sea levels and constantly rising sea levels invariably exacerbate coastal flooding, which seriously threatens human populations and physical assets-infrastructure in the coastal regions.

    In fact, across the US, Europe and other parts of the globe, similar patterns are observed with coastal and inland states facing flood risks due to tropical storms, hurricanes and prolonged rainfall events. In the US, riverine floods are also a concern, especially along major waterways like the Mississippi. In many areas, deforestation, wetland loss and poorly planned development have also disrupted natural drainage systems, reducing the landscape’s ability to buffer heavy rains.

    Like the United States, Europe is also grappling with more frequent and severe flooding. In 2021 and successive years, devastating floods in Germany, Belgium, Italy, the Netherlands, Luxembourg, Poland, the Czech Republic, Slovakia, Austria, Hungary and others highlighted the region’s exposure to extreme weather.

    Climate change is intensifying heavy rainfall events across the continent, particularly in Central and Western Europe. Uncontrolled urban expansion, river channelization and reduced natural water retention due to agricultural and industrial development have made many European regions more prone to flooding. In mountainous areas, rapid snowmelt and glacial lake outbursts, both linked to rising temperatures, also contribute to sudden floods.

    Studies have shown that climate change has increased the likelihood and intensity of heavy rainfall events in both the US and Europe. For example, in Europe, research indicates that human-caused climate change doubled the likelihood of the intense rainfall that caused recent floods in Central Europe. Similarly, in the US, climate change has been linked to more extreme rainstorms and increased flood risk.

    Despite the growing risks, many communities around the country are still not planning for more intense rainstorms as they build roads, floodways, and storm infrastructure. Local governments around the country rely on historical rainfall records from concerned agencies.

    Another factor that may be contributing to the severe floods, however, is human activity and land-use change. Most of the recent floods in Central Europe are river floods, which makes the links between the flooding and climate change less straightforward.

    Central Europe’s devastating floods were made worse by climate change, which scientists say offers glimpses of a bleak future for the world’s fastest-warming continent. In fact, Europe is the fastest-warming continent. The last five years were on average around 2.3°C warmer than the second half of the 19th century, according to the Copernicus Climate Service.

    Addressing these challenges requires a multi-pronged approach. In the short term, improving early warning systems, emergency response mechanisms and public awareness can help save lives. Upgrading drainage infrastructure, reinforcing levees and dams and integrating green infrastructure like rain gardens, permeable pavements and restored wetlands are essential for long-term flood resilience. Urban planning must prioritize flood risk zones, restrict construction in vulnerable areas and promote sustainable land use.

    And at a broader scale, reducing greenhouse gas emissions remains critical to mitigating the root cause of climate-driven floods. International cooperation, climate adaptation funding and policy reforms are necessary to prepare communities for the escalating risks posed by a warming world. Without decisive action, not only the US and Europe, but the majority of countries across the globe are likely to see floods becoming an even more destructive and persistent threat in the decades ahead. Without more ambitious climate action, global warming is expected to reach around 3°C by the end of the century, which would be much more disastrous to the humanity.

  • EU working closely to get trade deal with US, ready for all scenarios, von der Leyen says

    Source: Government of India

    Source: Government of India (4)

    The European Union is working closely with U.S. President Donald Trump’s administration to reach a trade deal, but Brussels is getting ready for all scenarios, European Commission President Ursula von der Leyen said on Wednesday.

    “We stick to our principles, we defend our interests, we continue to work in good faith, and we get ready for all scenarios,” von der Leyen told the European Parliament.

    Trump signed an executive order on Monday extending the date on which so-called “reciprocal” tariffs will take effect to August 1.

    The previous deadline had been Wednesday.

    In a wave of letters, Trump has begun informing a range of trading partners from Japan to Myanmar of sharply higher tariffs on goods they sell into the United States.

    But EU sources told Reuters the European Union would not be among the recipients of a similar letter.

    (Reuters)

  • Arizona fossils reveal an ecosystem in flux early in the age of dinosaurs

    Source: Government of India

    Source: Government of India (4)

    Scientists have unearthed in Arizona fossils from an assemblage of animals, including North America’s oldest-known flying reptile, that reveal a time of transition when venerable lineages that were destined soon to vanish lived alongside newcomers early in the age of dinosaurs.

    The remains of the pterosaur, roughly the size of a small seagull, and the other creatures were discovered in Petrified Forest National Park, a place famous for producing fossils of plants and animals from the Triassic Period including huge tree trunks. The newly found fossils are 209 million years old and include at least 16 vertebrate species, seven of them previously unknown.

    The Triassic came on the heels of Earth’s biggest mass extinction 252 million years ago, and then ended with another mass extinction 201 million years ago that wiped out many of the major competitors to the dinosaurs, which achieved unquestioned supremacy in the subsequent Jurassic period. Both calamities apparently were caused by extreme volcanism.

    The fossils, entombed in rock rich with volcanic ash, provide a snapshot of a thriving tropical ecosystem crisscrossed by rivers on the southern edge of a large desert.

    Along with the pterosaur were other new arrivals on the scene including primitive frogs, lizard-like reptiles and one of the earliest-known turtles – all of them resembling their relatives alive today. This ecosystem’s largest meat-eaters and plant-eaters were part of reptile lineages that were flourishing at the time but died out relatively soon after.

    While the Triassic ushered in the age of dinosaurs, no dinosaurs were found in this ecosystem, illustrating how they had not yet become dominant.

    “Although dinosaurs are found in contemporaneous rocks from Arizona and New Mexico, they were not part of this ecosystem that we are studying,” said paleontologist Ben Kligman of the Smithsonian Institution’s National Museum of Natural History in Washington, who led the study published in the journal Proceedings of the National Academy of Sciences.

    “This is peculiar, and may have to do with dinosaurs preferring to live in other types of environments,” Kligman added.

    This ecosystem was situated just above the equator in the middle of the bygone supercontinent called Pangaea, which later broke apart and gave rise to today’s continents.

    Pterosaurs, cousins of the dinosaurs, were the first vertebrates to achieve powered flight, followed much later by birds and bats. Pterosaurs are thought to have appeared roughly 230 million years ago, around the same time as the earliest dinosaurs, though their oldest-known fossils date to around 215 million years ago in Europe.

    The newly identified pterosaur, named Eotephradactylus mcintireae, is thought to have hunted fish populating the local rivers. Its partial skeleton includes part of a tooth-studded lower jaw, some additional isolated teeth and the bones of its elongated fingers, which helped form its wing apparatus.

    Its wingspan was about three feet (one meter) and its skull was about four inches (10 cm) long. It had curved fangs at the front of its mouth for grabbing fish as it flew over rivers and blade-like teeth in the back of the jaw for slicing prey. The researchers said Eotephradactylus would have had a tail, as all the early pterosaurs did.

    Eotephradactylus means “ash-winged dawn goddess,” recognizing the nature of the rock in which it was found and the position of the species near the beginning of the pterosaur lineage. Mcintireae recognizes Suzanne McIntire, the former Smithsonian fossil preparator who unearthed it.

    The turtle was a land-living species while the lizard-like reptile was related to New Zealand’s modern-day Tuatara. Also found were fossils of some other reptiles including armored plant-eaters, a large fish-eating amphibian and various fish including freshwater sharks.

    The ecosystem’s biggest predators were croc relatives perhaps 20 feet (six meters) long, bigger than the carnivorous dinosaurs inhabiting that part of the world at the time. On land was a four-legged meat-eating reptile from a group called rauisuchians. In the rivers dwelled a semi-aquatic carnivore from a group called phytosaurs, built much like a crocodile but with certain differences, such as nostrils at the top of the head rather than the end of the snout.

    Rauisuchians, phytosaurs and some other lineages represented in the fossils disappeared in the end-Triassic extinction event. Frogs and turtles are still around today, while pterosaurs dominated the skies until the asteroid impact 66 million years ago that ended the age of dinosaurs.

    “The site captures the transition to more modern terrestrial vertebrate communities,” Kligman said.

    (Reuters)

  • Jofra Archer returns to England team for third test vs India

    Source: Government of India

    Source: Government of India (4)

    England’s Jofra Archer has been named in the team to face India in the third test of the series at Lord’s, England’s cricket board (ECB) announced on Wednesday, as the fast bowler prepares for his first test in more than four years.

    Archer will replace fellow seamer Josh Tongue, the only change England have made, for the third test that starts on Thursday. Tongue picked up only four wickets and conceded more than 200 runs in the two innings.

    Archer, 30, has not played in the longest format since England faced India in Ahmedabad in February 2021.

    The series is tied at 1-1 after England won the first test at Headingley before India won a test for the first time at Edgbaston on Sunday.

    ENGLAND TEAM

    Zak Crawley, Ben Duckett, Ollie Pope, Joe Root, Harry Brook, Ben Stokes (captain), Jamie Smith (wicketkeeper), Chris Woakes, Brydon Carse, Jofra Archer, Shoaib Bashir.

    (Reuters)

     

  • At least nine dead after bridge collapses in Gujarat’s Vadodara; PM Modi announces ex-gratia relief

    Source: Government of India

    Source: Government of India (2)

    t least nine people were killed and five others injured when a 43-year-old bridge collapsed in Gujarat’s Vadodara district early Wednesday morning, officials said.

    The incident occurred around 7:30 a.m. when the Gambhira bridge, spanning the Mahisagar River near Mujpur village, gave way. The bridge was a crucial link between the Vadodara and Anand districts and served as an important route connecting Central Gujarat to Saurashtra.

    Expressing sorrow over the tragedy, Prime Minister Narendra Modi announced ₹2 lakh in ex-gratia compensation for the next of kin of each deceased and ₹50,000 for the injured, from the Prime Minister’s National Relief Fund (PMNRF).

    “The loss of lives due to the collapse of a bridge in Vadodara district is deeply saddening. Condolences to those who have lost their loved ones. May the injured recover soon,” the Prime Minister’s Office posted on X.

    Gujarat Chief Minister Bhupendra Patel also expressed grief and ordered a high-level inquiry into the incident. He announced an additional compensation of ₹4 lakh for the families of the deceased and ₹50,000 for those injured.

    “Technical experts have been instructed to visit the site and conduct a detailed investigation to determine the cause of the collapse,” the Chief Minister said.

    According to officials, a large slab between two piers collapsed as several vehicles, including two trucks, a pickup van, an Eeco van, and an auto-rickshaw, were crossing. The vehicles plunged into the river below.

    Rescue operations were launched immediately by teams from the Vadodara Fire Department, National Disaster Response Force (NDRF), and local authorities. Cranes, divers, and heavy machinery were deployed to locate missing persons and recover the wreckage.

  • Trump criticizes Putin after approving more weapons for Ukraine, Kremlin says it is ‘calm’

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump said on Tuesday he had approved sending U.S. defensive weapons to Ukraine and was considering additional sanctions on Moscow, underscoring his frustration with Russian President Vladimir Putin over the growing death toll in Russia’s war with Ukraine.

    Trump, who pledged as a presidential candidate to end the war within a day, has not been able to follow through on that promise and efforts by his administration to broker peace have come up short.

    Trump directed his ire at Putin on Tuesday during a meeting with cabinet officials at the White House.

    “I’m not happy with Putin. I can tell you that much right now,” Trump said, noting that Russian and Ukrainian soldiers were dying in the thousands.

    “We get a lot of bullshit thrown at us by Putin … He’s very nice all the time, but it turns out to be meaningless,” Trump said

    Trump said he was considering whether to support a bill in the Senate that would impose steep sanctions on Russia over the war.

    “I’m looking at it very strongly,” he said.

    The bill, whose lead sponsors are Republican Senator Lindsey Graham of South Carolina and Democratic Senator Richard Blumenthal of Connecticut, would also punish other countries that trade with Moscow, imposing 500% tariffs on nations that buy Russian oil, gas, uranium and other exports.

    DEFENSIVE WEAPONS AGAINST RUSSIAN ADVANCES

    Trump said on Monday that the United States would send more weapons to Ukraine, primarily defensive ones, to help it defend itself against Russian advances. On Tuesday he said he had approved such a move.

    “We’re sending some defensive weapons to Ukraine, and I’ve approved that,” he said.

    Ukrainian President Volodymyr Zelenskiy said on Tuesday he had ordered an expansion of contacts with the United States to ensure critical deliveries of military supplies, primarily air defence.

    “We currently have all the necessary political statements and decisions and we must implement them as quickly as possible to protect our people and positions,” he said.

    “These are critical deliveries that mean saving lives and protecting Ukrainian cities and villages. I expect results from these contacts very soon. And this week, we are preparing formats for meetings of our military and political teams.”

    Zelenskiy has repeatedly urged Ukraine’s Western allies to impose tougher sanctions on Moscow to force the Kremlin to agree to a ceasefire as a step towards reaching an end to the war, now 40 months old.

    A decision by the Pentagon to halt some shipments of critical weapons to Ukraine prompted warnings by Kyiv last week that the move would weaken its ability to defend against Russia’s intensifying airstrikes and battlefield advances.

    Trump, who was seated next to Defense Secretary Pete Hegseth, was asked on Tuesday who had ordered that pause.

    “I don’t know. Why don’t you tell me?” Trump responded.

    The Kremlin, asked on Wednesday about U.S. President Donald Trump’s criticism of Russian President Vladimir Putin, said that Moscow was “calm” regarding the criticism, and that it would continue to try to fix a “broken” U.S.-Russia relationship.

    Trump has in recent days accused Putin of not taking U.S. efforts to reach a peace deal in Ukraine seriously, and suggested that the U.S. will continue supporting Kyiv.

    (Reuters)

  • Extremely proud of our diaspora: PM Modi in Namibia

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday expressed deep pride in the Indian diaspora in Namibia, commending their role in preserving Indian culture and fostering stronger ties between India and the southern African nation.

    In a post on X, the Prime Minister said, “The Indian community in Namibia is extremely optimistic about closer India-Namibia friendship and this reflected in the special welcome in Windhoek. I am extremely proud of our diaspora, particularly the manner in which they have retained a connect with their culture and traditions.”

    PM Modi arrived in Namibia earlier today on the final leg of his five-nation tour. He received a traditional welcome at Hosea Kutako International Airport, where he was greeted by Namibia’s Minister of International Relations and Cooperation, Selma Ashipala-Musavyi.

    Local musicians and dancers performed at the airport to mark the occasion. In a gesture that drew warm applause, Prime Minister Modi joined the performers and played the Namibian drums, highlighting his appreciation for local customs and traditions.

    This marks Prime Minister Modi’s first visit to Namibia and only the third visit by an Indian Prime Minister to the country in the last 27 years.

    Soon after his arrival, the Prime Minister posted on X, “Landed in Windhoek a short while ago. Namibia is a valued and trusted African partner with whom we seek to boost bilateral cooperation.”

    During the visit, PM Modi will hold bilateral talks with Namibian President Netumbo Nandi-Ndaitwah. Both leaders are expected to discuss expanding cooperation in key areas such as energy, healthcare, education, digital technology, and development partnership.

    The visit will also include an address to a Joint Session of the Namibian Parliament, marking an important milestone in India-Namibia relations.

    According to the Ministry of External Affairs, India and Namibia share historic ties dating back to India’s early support for Namibia’s independence movement. In 1946, India raised the issue of Namibian independence at the United Nations.

    Ahead of his visit, PM Modi described Namibia as “a trusted partner” with whom India shares a “common history of struggle against colonialism.”

    “I look forward to meeting President H.E. Dr. Netumbo Nandi-Ndaitwah and charting a new roadmap for cooperation for the benefit of our peoples, our regions and the wider Global South,” the Prime Minister said, adding that addressing the Namibian Parliament would be a privilege as both nations celebrate “our enduring solidarity and shared commitment for freedom and development.”

    The Prime Minister had earlier expressed confidence that his visits to the five countries would further strengthen India’s ties across the Global South, deepen cooperation on both sides of the Atlantic, and expand engagement within multilateral platforms such as BRICS, the African Union, ECOWAS and CARICOM.

    -IANS

  • Vadodara bridge collapse: at least nine dead; PM Modi announces ex-gratia relief

    Source: Government of India

    Source: Government of India (4)

    At least nine people have died and five others were injured after a bridge in Gujarat’s Vadodara district collapsed early this morning, Vadodara Collector Anil Dhameliya confirmed.

    Prime Minister Narendra Modi expressed deep grief over the loss of lives and announced ex-gratia compensation for the victims’ families.

    In a post on X, the Prime Minister said, “The loss of lives due to the collapse of a bridge in Vadodara district is deeply saddening. Condolences to those who have lost their loved ones. May the injured recover soon.” He also announced an ex-gratia of ₹2 lakh each for the next of kin of the deceased and ₹50,000 for the injured from the Prime Minister’s National Relief Fund (PMNRF).

    The 43-year-old Gambhira bridge, which spanned the Mahisagar River near Mujpur village in Padra taluka, collapsed around 7:30 a.m. The bridge was a crucial link between the Vadodara and Anand districts and served as an important route connecting Central Gujarat to Saurashtra.

    According to officials, multiple vehicles- including two trucks, an Eeco van, a pickup van, and an auto-rickshaw -were crossing the bridge when a large slab between two piers gave way, plunging the vehicles into the river below.

    Teams from the Vadodara Fire Department, the National Disaster Response Force (NDRF), and local authorities launched immediate rescue and recovery operations using cranes, divers, and heavy machinery to locate missing persons and retrieve damaged vehicles.

    Gujarat Chief Minister Bhupendra Patel has ordered a high-level inquiry into the incident. “Technical experts have been instructed to visit the site and conduct a detailed investigation to determine the cause of the collapse,” the Chief Minister said.

    Officials stated that routine maintenance work was carried out as needed. However, the sudden collapse of the four-decade-old structure has raised questions over structural safety and maintenance standards.

    The 900-metre-long bridge, supported by 23 piers, was an essential route for daily commuters and transportation of goods. Its collapse has severely disrupted connectivity between Anand, Vadodara, Bharuch, and parts of Saurashtra, leading to traffic diversions and inconvenience for commuters.

    Rescue and recovery efforts are continuing as authorities work to locate any remaining missing persons and restore traffic movement in the area.

     

  • Indian Navy inducts ‘Nistar’, first indigenous diving support vessel

    Source: Government of India

    Source: Government of India (4)

    The Indian Navy on Tuesday marked the induction of its first indigenously designed and built Diving Support Vessel (DSV), Nistar. The vessel was formally handed over by Hindustan Shipyard Limited during a ceremony held in Visakhapatnam.

    Built in accordance with the classification rules of the Indian Register of Shipping (IRS), Nistar is a highly specialized warship equipped to conduct Deep Sea Diving and Rescue Operations—an advanced capability possessed by only a select few navies globally.

    The name Nistar, derived from Sanskrit, means liberation, rescue, or salvation. The ship stretches 118 meters in length and displaces nearly 10,000 tons. Designed with cutting-edge diving equipment, Nistar can perform deep sea saturation diving operations up to a depth of 300 meters. Additionally, it features a side diving stage that supports diving missions up to 75 meters deep.

    One of the ship’s critical roles will be to act as the “Mother Ship” for the Deep Submergence Rescue Vessel (DSRV), which is responsible for rescuing and evacuating personnel in case of a submarine emergency. The vessel is also equipped with advanced Remotely Operated Vehicles (ROVs), allowing diver monitoring and salvage operations up to 1000 meters below sea level.

    With approximately 75% indigenous content, the successful delivery of Nistar marks a notable achievement in the Indian Navy’s journey towards self-reliance in defence manufacturing.

  • Wildfire loses intensity in southern France, firefighters continue battle

    Source: Government of India

    Source: Government of India (4)

    A wildfire that reached the northwestern outskirts of France’s second city of Marseille lost intensity overnight, but firefighters were still battling the flames on Wednesday.

    Residents who had been told on Tuesday to stay in their homes for their own safety were once again allowed out.

    “With the fire in northern Marseille now clearly under control, we can announce this morning that the 16th arrondissement is no longer on lockdown,” Marseille Mayor Benoit Payan said in a post on social media platform X.

    “I call on all Marseille residents to exercise the utmost caution in the area, as emergency services are hard at work,” he said.

    Martine Vassal, head of the area council, said firefighters had worked through the night to control the fire, which she said remained a cause for concern.

    “It is not finished. Weather conditions are worrying for us,” Vassal told broadcaster BFM.

    Local officials said the airport for France’s second-largest city could close for commercial flights to prioritise air resources if the fire flared up again.

    It was too soon for the hundreds of residents who had fled from the wildfire to return, officials said.

    Hundreds of firefighters, aided by helicopters and aircraft, have been fighting the flames, which have been fanned by winds of up to 70 kph (43 mph) that brought plumes of smoke over the southern coastal city. Officials said the blaze was caused by a car that caught on fire.

    The fire had burnt through 700 hectares (2.7 square miles) but no fatalities had been reported, regional prefect Georges-Francois Leclerc said late on Tuesday.

    Interior Minister Bruno Retailleau told reporters late on Tuesday that the fire had been fast-moving, affecting 60 houses and burning down 10.

    The fire in Marseille and a separate one near Narbonne, another southern French city, were the first major fires of the summer, Sophie Primas, the government’s spokesperson, said in an interview with RTL on Wednesday, adding that wildfire season had come early this year.

    Climate change has made wildfires more destructive in Mediterranean countries in recent years.

    This week and last week, fires have also raged in northeastern Spain, on the Greek island of Crete, and in Athens.

    Philippe, a victim of the fires whose surname was not given, told BFM that he had slept poorly after evacuating and hoped to return to his home at noon on Wednesday.

    “There is nothing we can do,” he said. “It is very very, very hard.”

    (Reuters)

  • Flash floods in New Mexico resort town kills three, traps dozens in homes and vehicles

    Source: Government of India

    Source: Government of India (4)

    Torrential rains triggered flash floods in New Mexico that killed at least three people on Tuesday, including two young children, and trapped dozens in homes and vehicles in the resort village of Ruidoso, a state emergency official and a village statement said.

    The children, aged four and seven years old, and a man were swept downstream and later found dead, the mountain resort village said late Tuesday on its website, adding that rescue operations were underway.

    Dramatic video footage on social media and various news outlets showed an entire house, ripped from its foundations, careening downstream through the brown, muddy waters of the flood-engorged Rio Ruidoso, side-swiping trees as it went.

    “I’ve seen the video. We don’t know if anyone was in the house,” said Danielle Silva, a spokesperson for the New Mexico Department of Homeland Security and Emergency Management.

    Emergency teams organised by local law enforcement and the National Guard conducted at least 85 swift-water rescues in and around Ruidoso, many of them people stranded in cars and homes by elevated flood waters, Silva said.

    Silva said the river had quickly risen by a provisional record of 20.24 feet (6.2 metres) at the peak of the flood, and as waters began to recede in the evening, authorities began searching for survivors in the debris.

    The latest floods come just four days after a deadly flash flood triggered by heavy rains along the Guadalupe River killed at least 109 people and left scores missing after ravaging a swath of Texas Hill Country.

    In New Mexico, Silva said the severity of the debris flow was heightened by a flame-scarred landscape stripped of vegetation in a wildfire which was then followed by flooding that eroded the soil.

    Ruidoso, a popular summer retreat as well as ski resort nestled in the Sierra Blanca mountain range of south-central New Mexico, is located about 115 miles (185 km) south of Albuquerque, the state’s largest city.

    (Reuters)

  • Turkey blocks X’s Grok chatbot for alleged insults to Erdogan

    Source: Government of India

    Source: Government of India (4)

    A Turkish court has blocked access to Grok, the artificial intelligence chatbot developed by the Elon Musk-founded company xAI, after it generated responses that authorities said included insults to President Tayyip Erdogan.

    Issues of political bias, hate speech and accuracy of AI chatbots have been a concern since at least the launch of OpenAI’s ChatGPT in 2022, with Grok dropping content accused of antisemitic tropes and praise for Adolf Hitler.

    The office of Ankara’s chief prosecutor has launched a formal investigation into the incident, it said on Wednesday, in Turkey’s first such ban on access to an AI tool.

    Neither X nor its owner Elon Musk has commented on the decision.

    Last month, Musk promised an upgrade to Grok, suggesting there was “far too much garbage in any foundation model trained on uncorrected data”.

    Grok, which is integrated into X, reportedly generated offensive content about Erdogan when asked certain questions in Turkish, media said.

    The Information and Communication Technologies Authority (BTK) adopted the ban after a court order, citing violations of Turkey’s laws that make insults to the president a criminal offence, punishable with up to four years in jail.

    Critics say the law is frequently used to stifle dissent, while the government maintains it is necessary to protect the dignity of the office.

    (Reuters)

  • Indian NBFCs to clock 25 pc growth in education loan assets in FY26 amid US uncertainties

    Source: Government of India

    Source: Government of India (4)

    For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

    The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

    To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

    The education loan AUM of NBFCs grew a rapid 48 per cent to Rs 64,000 crore last fiscal. That followed an even faster 77 per cent growth in fiscal 2024.

    “Policy uncertainties in the US, combined with measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have culled newer loan originations. This has led to a 30 per cent decline in total disbursements to that geography last fiscal,” said Malvika Bhotika, Director, Crisil Ratings.

    Disbursements linked to even Canada, the second-largest market, fell as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits.

    “Consequently, overall education loan disbursements were up only 8 per cent in fiscal 2025, compared with 50 per cent in fiscal 2024, Bhotika mentioned.

    To offset these headwinds, NBFCs have sharpened focus on other geographies.

    Disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations.

    The share of such geographies in total disbursements rose to almost 50 per cent in fiscal 2025 from 25 per cent a year ago.

    NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching. Given the lower ticket sizes of such loans, their share in the overall portfolio is unlikely to be material, but they may lend some stability in times of global uncertainties.

    “The ability of NBFCs to scale up and maintain asset quality in some of the newer domestic products will bear watching as well,” said Sonica Gupta, Associate Director, Crisil Ratings. Moreover, the agility of the NBFCs to navigate the complexities of the global landscape, characterised by uncertainty and change in preferences of students, will be crucial for sustained growth and success.

    (IANS)

  • Indian NBFCs to clock 25 pc growth in education loan AUM in FY26 amid US uncertainties

    Source: Government of India

    Source: Government of India (4)

    For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

    The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

    To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

    The education loan AUM of NBFCs grew a rapid 48 per cent to Rs 64,000 crore last fiscal. That followed an even faster 77 per cent growth in fiscal 2024.

    “Policy uncertainties in the US, combined with measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have culled newer loan originations. This has led to a 30 per cent decline in total disbursements to that geography last fiscal,” said Malvika Bhotika, Director, Crisil Ratings.

    Disbursements linked to even Canada, the second-largest market, fell as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits.

    “Consequently, overall education loan disbursements were up only 8 per cent in fiscal 2025, compared with 50 per cent in fiscal 2024, Bhotika mentioned.

    To offset these headwinds, NBFCs have sharpened focus on other geographies.

    Disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations.

    The share of such geographies in total disbursements rose to almost 50 per cent in fiscal 2025 from 25 per cent a year ago.

    NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching. Given the lower ticket sizes of such loans, their share in the overall portfolio is unlikely to be material, but they may lend some stability in times of global uncertainties.

    “The ability of NBFCs to scale up and maintain asset quality in some of the newer domestic products will bear watching as well,” said Sonica Gupta, Associate Director, Crisil Ratings. Moreover, the agility of the NBFCs to navigate the complexities of the global landscape, characterised by uncertainty and change in preferences of students, will be crucial for sustained growth and success.

    (IANS)

  • Broadband subscribers in India cross 944 million, up 2.17% in FY 25: TRAI

    Source: Government of India

    Source: Government of India (4)

    The number of broadband subscribers rose to 944.12 million in India, the Telecom Regulatory Authority of India (TRAI) data showed on Tuesday.

    TRAI released its “Indian Telecom Services – Yearly Performance Indicators Report” for 2024–25, offering a detailed overview of India’s telecom and broadcasting sectors from April 1, 2024, to March 31, 2025.

    India’s internet subscribers rose to 969.10 million from 954.40 million at the end of March 2025, the Ministry of Communications said in a statement. Broadband connections accounted for 944.12 million, registering a 2.17% growth, while narrowband users declined sharply by 17.66% to 24.98 million.

    Mobile Average Revenue Per User (ARPU) saw a notable increase of 16.89%, rising from ₹149.25 to Rs 174.46. Prepaid ARPU rose, while postpaid ARPU marginally declined.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Sweden reach Euro 2025 knockouts with 3-0 win over Poland

    Source: Government of India

    Source: Government of India (4)

    Sweden subjected Poland to an all-out aerial attack, scoring three headed goals in a 3-0 win to reach the knockout stages of the women’s European Championship, with captain Kosovare Asllani playing the role of air traffic controller throughout.

    The mercurial 35-year-old sent an early looping header bouncing off the woodwork before teeing up Stina Blackstenius to open the scoring.

    She then netted a header herself after the break, with Lina Hurtig adding a third from a corner as the Swedes guaranteed a top-two spot in Group C and a place in the next round. They will face Germany in their final group game on Saturday to decide who finishes top.

    “The plan was to attack through the flanks and through the wings, because we knew we would have a lot of space there, so we tried to attack, and got a lot of crosses in,” Asllani told Reuters.

    “The first goal, I waited one second extra, waited for their defenders to move, for me to chip it in to Stina. So it’s three headers, three beautiful goals, the three points.”

    The Swedes never relented, pushing down the wings throughout the game.

    “We had seen clips where they are centred themselves a lot, so it felt natural for us to go wide and work from there. It worked for the whole game, so we just kept going at it,” midfielder Filippa Angeldahl told Reuters.

    “We’ll go through Germany and we’ll take a lot of things with us from today. Obviously we’re strong in the box and we want to get in the box as much as possible.”

    With Poland and Denmark now eliminated, it remains to be seen whether the Swedes will adopt the same tactics against Germany when the two sides battle it out in Zurich, and Asllani had a steely look when asked what the plan would be.

    “We want to win the group. That’s clear,” she said.

    (Reuters)