Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Business Standard BFSI Insight Summit brings together thought leaders from India's financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Keynote Address: Ananth Narayan Gopalakrishnan, Whole-Time Member, SEBI

Infrastructure major Larsen & Toubro (L&T) on Monday said it has bagged a major order from the Defence Ministry for the supply of K9 Vajra-T Artillery Platforms to the Indian Army.
According to the company's project classification, the 'major' order values between Rs 5,000 crore-10,000 crore.
The K9 Vajra-T is a 155 mm, 52-caliber tracked self-propelled artillery platform,  adapted from the world's leading South Korean self-propelled howitzer K9 Thunder. Co-developed by L&T and Hanwha Aerospace, it has been customised to suit the requirements of the Indian Army for operations in varied terrains, including deserts, plains and high-altitude regions.
In 2017, the company won the order for the first batch of 100 K9 Vajra-T platforms through a global competitive bidding and after successful field evaluation.
The company delivered the Vajra Platforms ahead of schedule.
"Like the first batch, the second batch of the K9 Vajra-T too will be manufactured at our Armoured Systems ...

According to the company's project classification, the 'major' order values between Rs 5,000 crore-10,000 crore

The Religare open offer is priced at Rs 235 per share, amounting to Rs 2,116 crore

AI took centre stage in smartphones this year, but camera advancements remained a defining theme across segments. Here are the top five camera-oriented smartphones reviewed this year

Debecker spoke about Cloud services and artificial intelligence and how Wipro is preparing to be an AI-powered firm

Prime Minister Narendra Modi said on Monday that his government has provided nearly 10 lakh permanent government jobs to youths in the last one or one and a half years which, he asserted, is a record.
Addressing recruits at a Rozgar Mela through a virtual event, where over 71,000 people were given appointment letters, he said never before in the tenure of any previous government jobs were provided in such a "mission mode".
The young population is at the centre of his government's policies and programmes, he said, adding honesty and transparency have driven the recruitment process.
Noting that a large number of recruits are women, Modi said it is the endeavour of his government that they become self-dependent in every field.
The government's decision to grant 26-week maternity leave to women has helped them a lot in their career, he said, noting that women are the majority owners of the house constructed under the 'PM Awas Yojana'.
Women-led development is taking place in the count

The young population is at the centre of his government's policies and programmes, he said

From addressing gaps in women's safety mechanisms to strengthening grassroots initiatives and nutritional security, the Women and Child Development ministry is set to focus on tackling systemic issues in the coming year.
The year 2024 saw Annapurna Devi taking charge as the new Women and Child Development Minister and Savitri Thakur as her deputy.
The operationalization of fast track special courts for handling cases of rape and crimes under the Protection of Children from Sexual Offences (POCSO) Act will remain a critical focus in 2025.
The ministry is expected to tighten its monitoring of state-level compliance and increase the utilization of central funds allocated for justice delivery, senior officials of the ministry said.
With the Centre's scheme requiring fast track special courts to exclusively handle sensitive cases, 2025 is likely to see renewed efforts to operationalize additional courts and integrate them with support systems like one-stop centres, one of the officials 

The year 2024 saw Annapurna Devi taking charge as the new Women and Child Development Minister and Savitri Thakur as her deputy

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Keynote Address: Ananth Narayan Gopalakrishnan, Whole-Time Member, SEBI

Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

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