BUSINESS News
BSE Launches India Defence Index
- The BSE Index Services, a subsidiary of the Bombay Stock Exchange (BSE), has rolled out the BSE India Defence Index.
- This benchmark index is created to track and measure the performance of listed companies in the Indian defence sector.
- Its components will be drawn from the BSE 1000 Index, ensuring representation from large and mid-sized defence companies.
- The index will undergo semi-annual reconstitution in June and December each year.
- It can serve as a base for passive investment tools like ETFs (Exchange-Traded Funds) and Index Funds, giving investors exposure to the defence industry’s overall performance.
- Ashutosh Singh currently serves as the MD & CEO of BSE Index Services.
PhonePe Dominates UPI Market
- PhonePe emerged as the market leader in July, processing 8.93 billion UPI transactions worth ₹12.20 trillion, securing a 45.88% share of the market.
- Google Pay followed as the second-largest player, handling 6.92 billion transactions worth ₹8.91 trillion, with a 35.56% share.
- Together, PhonePe and Google Pay commanded an impressive 81.44% of the UPI market.
- Paytm accounted for 1.36 billion transactions worth ₹1.43 trillion, representing a 7.02% share.
- According to NPCI (National Payments Corporation of India), the total value of UPI transactions in July reached ₹25.08 lakh crore, showing a 4.3% rise from ₹24.04 lakh crore in June.
- Other TPAPs (Third-Party App Providers) included:
- Navi with 6 million transactions
- super.money with 252.85 million transactions
- Overall, UPI hit a new record high with 19.46 billion transactions in July, valued at ₹25.08 trillion.
- Top Merchant Category: Grocery stores and supermarkets led in peer-to-merchant (P2M) payments, accounting for over 3 billion transactions worth ₹64,881.98 crore—almost a quarter of all P2M UPI transactions by volume.
ICICI Bank to Power India’s First Barrier-Free Tolling System
- ICICI Bank has been chosen to manage digital payment services for India’s first barrier-free toll collection project.
- The initiative will debut at Choryasi Toll Plaza on NH-48 in Gujarat.
- This project is part of NHAI’s (National Highways Authority of India) vision to modernize tolling and road infrastructure.
- It deploys Multi-Lane Free Flow (MLFF) technology, integrating RFID scanners and AI-based Automatic Number Plate Recognition (ANPR) cameras for toll collection.
- The system eliminates the need for conventional toll booths, enabling seamless, contactless payments without vehicles needing to slow down.
- As mandated by NHAI, only banks are eligible to manage such projects, with ICICI Bank securing the responsibility for transaction processing.
NATIONAL NEWS
Passage of National Sports Governance Bill 2025 & National Anti-Doping (Amendment) Bill 2025
- The Parliament of India has passed two landmark legislations:
- National Sports Governance Bill 2025
- National Anti-Doping (Amendment) Bill 2025
- These reforms were celebrated by the sporting community as historic steps in strengthening governance and protecting athletes.
- Union Sports Minister Dr. Mansukh Mandaviya described the Sports Governance Bill as the most significant sports reform since Independence.
Key Features of the Sports Governance Bill
- Establishes new regulatory and governing bodies for Indian sports:
- National Olympic Committee
- National Paralympic Committee
- National and Regional Sports Federations for various disciplines
Highlights of the Anti-Doping (Amendment) Bill
- Enhances coordination with WADA (World Anti-Doping Agency).
- Focuses on faster dispute resolution mechanisms.
- Introduces programs to raise athlete awareness on anti-doping rules.
Significance of the Reforms
- Olympics 2036 Bid: Brings India in alignment with the Olympic Charter and global best practices, boosting its bid for hosting the 2036 Summer Games.
- Historical Milestone: Efforts to build a comprehensive sports governance framework date back to 1975, but earlier attempts failed due to political challenges.
- Gender Inclusion: Ensures increased representation of women in sports federations and leadership roles.
- Performance Enhancement: By enforcing accountability and limiting political interference, these reforms are aimed at improving India’s global sports performance.
AWARDS
Telangana Recognised for Leading in Organ Donations
- Telangana has achieved the highest number of organ donations in India, honored during National Organ Donation Day in Delhi.
- The award was presented by Union Health Minister J.P. Nadda to officials of Telangana’s Jeevandan programme.
- According to the Health Ministry, Telangana’s organ donation rate in 2024 stood at 4.88 per 10 lakh population, far above the national average of 0.8 per 10 lakh population.
- The recognition was given by the National Organ and Tissue Transplant Organisation (NOTTO).
- Telangana has effectively implemented the Transplantation of Human Organs and Tissues Act (THOTA), ensuring equitable access to organ transplants regardless of income level.
- Under the Aarogyasri scheme, transplant surgeries are provided free of cost.
- In 2024 alone, 188 donors saved 725 lives through organ harvesting and transplantation.
SPORTS NEWS
Vincent Keymer Wins Quantbox Chennai Grand Masters 2025
- German Grandmaster Vincent Keymer, aged 20, emerged as the champion of the Quantbox Chennai Grand Masters 2025.
- He secured the title with one round still to play, marking him as the first sole winner in the event’s history.
- His draw against Dutch GM Jorden van Foreest, coupled with other match outcomes, ensured his victory.
- With this triumph, Keymer entered the world’s Top 10 in live chess ratings for the first time.
- In the Masters category, Round 8 matches all ended in draws, leaving the fight for 2nd and 3rd place still undecided.
- Indian players Arjun Erigaisi and Karthikeyan Murali, set to face each other in the final round, remain in contention for podium finishes.
BOOKS & AUTHORS
The Rise of the Hitman – Biography of Rohit Sharma
- “The Rise of the Hitman: The Rohit Sharma Story” captures the cricketing journey of Rohit Sharma, one of India’s greatest white-ball cricketers.
- Authored by R. Kaushik and published by Rupa Publications.
- The book narrates his rise from early days to cricket stardom, featuring insights from teammates, coaches, and close associates.
M.S. Swaminathan: The Man Who Fed India
- Authored by Priyambada Jayakumar and published by HarperCollins.
- The biography, launched in New Delhi, honors M.S. Swaminathan, the father of India’s Green Revolution.
- It portrays his scientific achievements and human side, highlighting his pivotal role in achieving food self-sufficiency in India.
The Conscience Network by Sugata Srinivasaraju
- Authored by veteran journalist and historian Sugata Srinivasaraju, and published by Penguin Random House.
- The book recounts how the Indian diaspora in the U.S. opposed Prime Minister Indira Gandhi’s Emergency (1975–77).
- Focuses on Indians for Democracy (IFD), a group of students and professionals who:
- Held lectures on U.S. campuses
- Met American lawmakers
- Wrote opinion pieces
- Organized protest marches
- It shows how defending democracy can transcend national borders.
- The author, with over 30 years of journalism experience, adds credibility through his deep research and storytelling.
OBITUARIES
Passing of Astronaut Jim Lovell
- Jim Lovell, famed astronaut and commander of the Apollo 13 mission, passed away at 97 years of age.
- He was a veteran of four spaceflights: Gemini VII, Gemini XII, Apollo 8, and Apollo 13.
- The Apollo 13 mission (April 11, 1970) was intended as the third lunar landing, but instead became known for its near-disastrous failure that ended in a remarkable rescue mission.
- Lovell remains the first person to travel to the Moon twice (Apollo 8 & 13), though he never walked on its surface.
- He retired from NASA in 1973, after 715 hours in space.