V.O. Chidambaranar (V.O.C.) Port has signed a tripartite Memorandum of Understanding (MoU) with Indian Railway Finance Corporation Limited (IRFC) and Sagarmala Finance Corporation Limited (SMFCL), at an event held in New Delhi on Tuesday.

The port has entered into the MoU to explore the financing arrangements of up to ₹15,000 crore for the outer harbour project at V.O.C. Port, comprising construction of bund and breakwater, capital dredging and reclamation and other allied facilities under the Hybrid Annuity Model (HAM).

The MoU was inked by Susanta Kumar Purohit, IRSEE, Chairperson, VOC Port, Manoj Kumar Dubey, CMD, IRFC and LVS Sudhakar Babu, Managing Director, SMFCL, in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways (MoPSW), Ashwini Viashnaw, Union Minister of Railways, Information & Broadcasting and Electronics & Information Technology, Shantanu Thakur, Minister of States, MoPSW, Vijay Kumar, Secretary, MoPSW and other senior officials.

The Employees’ Provident Fund Organisation (EPFO) has welcomed the rationalisation of the income tax framework governing recognised provident funds announced in the Union Budget 2026-27, saying the move will bring much-needed clarity, reduce litigation, and better serve stakeholders.

Under the existing system, recognised provident funds are governed by Schedule XI of the Income Tax Act, 2025, while exemptions and operational provisions are regulated under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. Differences between the two frameworks – covering eligibility for tax exemption, investment patterns, and limits on employer contributions—have often led to confusion and avoidable disputes.

The Budget 2026-27 addresses these inconsistencies by aligning income tax provisions with the statutory and administrative framework of the EPF Act, 1952, and the Employees’ Provident Funds Scheme, 1952.

Tripura Gramin Bank (TGB) on Tuesday launched its first-ever Co-Branded RuPay Credit Card in collaboration with its sponsor bank, Punjab National Bank (PNB), ushering in a new phase of digital and customer-centric banking, the release said.

With this initiative, Tripura Gramin Bank has become the first Regional Rural Bank (RRB) among the eight PNB-sponsored RRBs and the first RRB in the country to introduce a Co-Branded RuPay Credit Card, setting a significant national benchmark in the rural banking sector.

The historic launch reflects the Bank's growing focus on digital transformation, financial inclusion, and enhanced customer convenience, particularly for rural and semi-urban customers seeking access to modern credit facilities within the indigenous RuPay payment ecosystem.

Noted sociologist and writer Andre Beteille died due to age-related illness at a hospital here on Tuesday night. He was 91.

"My father was ailing for some time. He was in the hospital, where he passed away last night," his daughter, Radha Beteille, told PTI.

His last rites were performed on Wednesday. Beteille was a Professor Emeritus of Sociology at the University of Delhi since 2003. He was known for his studies on the caste system and social inequalities in India.

Born in West Bengal to to a French father and an Indian mother, Beteille moved to Delhi after completing his MA from Calcutta University.

Scientists have revised long-held measurements of Jupiter using fresh spacecraft data, revealing the solar system’s largest planet is slightly smaller and flatter than previously believed, according to new research published in Nature Astronomy on Feb. 2.

For decades, Jupiter’s size and shape were based on measurements gathered during brief flybys by NASA’s Pioneer and Voyager missions during the 1970s. Those early observations formed the foundation for planetary textbooks and scientific models worldwide. Now, data from NASA’s Juno spacecraft has allowed researchers to refine those figures with far greater precision, reshaping scientific understanding of the giant planet’s interior.

The Kerala film and music fraternity, joined by political leaders from across the spectrum, came together with thousands of fans on Tuesday to mourn the death of celebrated music director S P Venkatesh. The 70-year-old composer passed away in Chennai due to heart attack, leaving behind an enduring musical legacy that shaped Malayalam cinema for decades.

Chief Minister Pinarayi Vijayan described his death as an irreparable loss to Kerala’s cultural landscape. According to a PTI report, Vijayan hailed Venkatesh as one of the most significant figures in Malayalam film music, noting that his evergreen compositions continue to resonate deeply with generations of listeners. The chief minister added that Venkatesh’s melodies were integral to Malayalam cinema during the 1980s and 1990s, and that his innovative background scores remain influential to this day.

Manipur MLA Yumnam Khemchand Singh has been elected Leader of the BJP Legislature Party, paving the way for the formation of a government headed by him in the border state where the President's Rule will complete a year on February 13.

The announcement came after the BJP leadership met the party's MLAs from Manipur and leaders of National Democratic Alliance (NDA) partners in Delhi.

The BJP's central observer for Manipur, Tarun Chugh, and its northeast in-charge, Sambit Patra, attended the meeting.

Shares of Walmart hit a $1 trillion market valuation for the first time on Tuesday, making it the first retailer to join an elite group of U.S. companies dominated by technology heavyweights.

The Bentonville, Arkansas-based company has seen its stock rally nearly 26% over the past year. The milestone follows Walmart's aggressive push into artificial intelligence and automation, as the company pivots from a traditional brick-and-mortar giant into a digital-first powerhouse.

"They've gone from just being the local retailer for good prices to really embracing technology. It's been a massive digital business transformation that this company has gone through over the last five years," said Eric Clark, chief investment officer at Accuvest Global Advisors.

Shares of Yes Bank Ltd. gained on Wednesday, February 4, after it said the Reserve Bank of India (RBI) has approved the appointment of Vinay Muralidhar Tonse as its new managing director and chief executive officer.

Tonse's appointment is for a period of three years from his date of appointment, which is yet to be mentioned. The same will be subject to the approval of the shareholders of the bank, the lender said in an exchange filing on Tuesday, February 3.

Tonse previously was the managing director (retail business and operations) at State Bank of India till November 30, 2025.

The Union Government moved a step closer to building an integrated, domestically anchored container ecosystem on Tuesday, with the signing of an MoU to establish the Bharat Container Shipping Line (BCSL).

Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal, and Union Minister of Railways Ashwini Vaishnaw witnessed the signing. The MoU signals a coordinated push across shipping, ports, and rail-linked logistics.

The BCSL MoU was signed with the Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority, V.O. Chidambaranar Port Authority (VOCPA), Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL), under the aegis of the Ministry of Ports, Shipping and Waterways. The initiative operationalises the intent of the Container Manufacturing Assistance Scheme (CMAS) announced in the Union Budget 2026–27.