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BusinessThe Reserve Bank of India (RBI) has finalized a rule allowing eligible mutual funds, insurance companies, and pension funds to obtain one-time approval for acquiring up to 10% shareholding in the same bank. This move simplifies the previous regulations on bank shareholding, enabling easier subsequent acquisitions within the specified limit.
ET Markets·
BusinessSoybean futures on the Chicago Board of Trade fell due to fund liquidation and expectations of a decline in the August soybean crush. A record-large US crop harvest is pressuring prices, despite a slow harvest pace caused by wet late summer and early autumn weather. Wheat prices rose supported by a small US crop and a large Saudi Arabia import tender.
Mint Markets··Chicago
WorldPitru Paksha in India is a sacred fortnight dedicated to honoring ancestors through rituals like tarpana and pinda offerings. Similar traditions exist globally: Qingming in China involves grave cleaning and incense burning; Japan's Obon welcomes ancestral spirits with lanterns; Cambodia's Pchum Ben includes temple offerings; Mexico's Día de los Muertos celebrates with photos and food. Many countries share this universal practice of ancestor remembrance.
Deccan Herald·
TechnologyIndia's rapid expansion in artificial intelligence and data centres is causing a significant rise in electricity demand, with data centre consumption projected to reach 50 TWh by 2030. Cooling systems may use 30–40% of this energy. Experts stress the need for water and cooling infrastructure development alongside digital growth. Generative AI's energy use, including image generation averaging 2.9 watt-hours per prompt, highlights environmental impacts.
Deccan Herald·
PoliticsThe government revised FASTag guidelines for vehicles registered under the Divyangjan category. Beneficiaries will receive exempted FASTags based on disability percentage shown on their disability certificate, UDID card, or other records. The Ministry of Road Transport and Highways simplified toll procedures by changing the renewal from annual to a new system to ease living for persons with disabilities.
The Hindu··New Delhi
WorldFlyDubai flight 1073 experienced a four-hour emergency after a cockpit fight between the wounded Indian captain and Omani copilot. The Boeing 737 Max 8 made steep descents and climbs, zigzagging for 200 seconds before safely landing at a Saudi airport. The captain is hospitalized, the copilot is under questioning, and investigations involve Israel, UAE, and Saudi Arabia. The flight carried 182 passengers, mostly Israelis, from Dubai to Tel Aviv.
HT World·
ET Markets·
The Reserve Bank of India (RBI) has finalized a rule allowing eligible mutual funds, insurance companies, and pension funds to obtain one-time approval for acquiring up to 10% shareholding in the same bank. This move simplifies the previous regulations on bank shareholding, enabling easier subsequent acquisitions within the specified limit.
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