🇮🇳 National News
In April 2025, the RBI imposed penalties on three financial institutions for regulatory non-compliance under the Banking Regulation Act, 1949 and the RBI Act, 1934.
| Institution | HQ | Penalty | Violation |
|---|---|---|---|
| Indian Bank (IB) | Chennai | Rs 1.61 crore | Interest Rate on Advances, KCC Scheme, Lending to MSME Sector |
| Indian Overseas Bank (IOB) | Chennai | Rs 63.60 lakh | Collateral-Free Agricultural Loans, Lending to MSME Sector |
| Mahindra & Mahindra Financial Services (MMFSL) | Mumbai | Rs 71.30 lakh | NBFC-NDSI Directions 2016, RBI KYC Directions 2016 |
- Indian Bank & IOB: Penalised under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
- MMFSL: Penalised under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934. MMFSL is categorised as an NBFC-Systematically Important Non-Deposit taking Company (NBFC-ND-SI).
RBI penalised Indian Bank (Rs 1.61 crore), IOB (Rs 63.60 lakh), and MMFSL (Rs 71.30 lakh). IB & IOB violations: KCC Scheme, MSME lending, collateral-free agri loans under BR Act 1949, Sec 47A(1)(c). MMFSL violations: NBFC-ND-SI Directions 2016 & KYC Directions 2016 under RBI Act 1934, Sec 58G(1)(b). Both IB and IOB are headquartered in Chennai.
💼 Business & Economy
On April 26, 2025, the Board of Reliance Industries Limited (RIL) (Mumbai) appointed Anant M. Ambani as Executive Director (ED) for a 5-year term effective May 1, 2025 (subject to shareholder approval) — making him the first among the Ambani siblings to assume an ED role at RIL.
- Currently leads RIL’s energy and sustainability initiatives (targeting net-zero carbon by 2035). Board memberships include: Jio Platforms Limited (JPL) (since March 2020), Reliance Retail Ventures Limited (RRVL) (since May 2022), Reliance New Energy Limited (RNEL) and Reliance New Solar Energy Limited (RNSEL) (since June 2021), Reliance Foundation (RF) (since September 2022).
| RIL FY25 Financial Metric | Value | YoY Growth |
|---|---|---|
| Annual Consolidated Revenue | Rs 10,71,174 crore (~USD 125.3 bn) | +7.1% |
| Profit After Tax (PAT) | Rs 81,309 crore (~USD 9.5 bn) | +2.9% |
| Capital Expenditure | Rs 1,31,107 crore (~USD 15.3 bn) | — |
| Total Equity | First Indian company to cross Rs 10 lakh crore | |
CMD: Mukesh Ambani | HQ: Mumbai | Founded: 1957
Anant M. Ambani appointed Executive Director of RIL from May 1, 2025 (5-year term) — first Ambani sibling as ED. RIL FY25: revenue Rs 10,71,174 crore (+7.1%), PAT Rs 81,309 crore. RIL = first Indian company to cross Rs 10 lakh crore in total equity (also first to cross Rs 20 lakh crore market cap in 2024). CMD: Mukesh Ambani. Founded: 1957.
👔 Appointments
In April 2025, Dr. A. Jayathilak — a 1991-batch IAS officer (Kerala cadre) — was appointed as the 50th Chief Secretary of Kerala by the state cabinet, until his retirement in June 2026. He succeeds Sarada Muraleedharan (1990-batch IAS, retiring April 30, 2025).
- Previously served as Additional Chief Secretary (Finance), Kerala.
- Career highlights: Sub-Collector, Mananthavady; District Collector of Kollam and Kozhikode; MD in the Industries Department and Kerala Tourism Development Corporation (KTDC); Chairman, Spice Board; Additional CS (Disaster Management); inter-cadre deputation to Chhattisgarh government (2002–05).
Dr. A. Jayathilak = 50th Chief Secretary of Kerala (1991-batch IAS, Kerala cadre). Succeeds Sarada Muraleedharan (1990-batch). Term until June 2026. Previously: Additional CS (Finance) and Chairman of Spice Board. Also served as District Collector of Kollam and Kozhikode.
🔬 Science & Technology
In April 2025, DRDL (Defence Research & Development Laboratory) (Hyderabad, a DRDO unit) successfully conducted a 1,000-second ground test of an Active Cooled Scramjet Subscale Combustor at its newly established Scramjet Connect Test Facility (SCPT), Hyderabad.
- Follows a prior 120-second test in January 2025; paves the way for full-scale flight-worthy combustor testing — a key step toward operationalising hypersonic missiles.
- Hypersonic Cruise Missile (HCM): Capable of sustained flight at speeds exceeding Mach 5 (>6,100 km/h), powered by air-breathing scramjet engines using supersonic combustion for long-duration performance.
- Scramjet (Supersonic Combustion Ramjet): Air-breathing engine without moving parts; capable of sustaining combustion at supersonic speeds. Uses a unique flame stabilisation method to sustain combustion even when air flows at >1.5 km/s.
This test marks a critical advancement in India’s Hypersonic Cruise Missile Development Programme. The jump from 120 seconds (Jan 2025) to 1,000 seconds demonstrates sustained combustion — a core requirement for operational hypersonic weapons.
DRDL (Hyderabad, DRDO unit) conducted 1,000-second scramjet ground test at SCPT facility. Previous test: 120 seconds (January 2025). Scramjet = Supersonic Combustion Ramjet — air-breathing, no moving parts, sustains combustion at >1.5 km/s. Target: Hypersonic Cruise Missile (Mach 5+, >6,100 km/h). Part of India’s Hypersonic Cruise Missile Development Programme.
In April 2025, ISRO (Bengaluru, DoS) and SCTIMST (Sree Chitra Tirunal Institute for Medical Sciences & Technology) (Thiruvananthapuram, Kerala; under DST, MoS&T) signed a ‘Framework MoU on Cooperation in Space Medicine’.
- Signed by Dr. Sanjay Behari (Director, SCTIMST) and M. Ganesh Pillai (Scientific Secretary, ISRO) in the presence of Dr. V. Narayanan (ISRO Chairman), at Thiruvananthapuram.
- Focus areas: human physiological research, behavioural health studies, biomedical support systems, radiation biology and medicine.
- Will support India’s Gaganyaan human spaceflight programme and improve healthcare both in space and on Earth.
Chairman: Dr. V. Narayanan | HQ: Bengaluru | Parent: Department of Space (DoS)
ISRO and SCTIMST (Thiruvananthapuram, under DST) signed Framework MoU on Space Medicine. Signed by Dr. Sanjay Behari (SCTIMST) and M. Ganesh Pillai (ISRO). Focus: human physiology, behavioural health, biomedical systems, radiation biology. Supports Gaganyaan programme. ISRO Chairman: Dr. V. Narayanan.
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