The RBI on Monday said it has cancelled the licence of The Shirpur Merchants' Co-operative Bank as the lender does not have adequate capital and earning prospects.

Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 6, 2026, the Reserve Bank said in a statement.

The Commissioner for Cooperation, Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator.

On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

Over the past year, Meta Chief Executive Mark Zuckerberg has spent billions of dollars to overhaul the company’s artificial intelligence (AI) efforts and assemble an elite team of researchers, aiming to push the social networking giant back into the fast-moving AI race.

The first results of that strategy are now emerging with the launch of Muse Spark, the first model built by Meta Superintelligence Labs, the firm’s revamped AI unit headed by Alexandr Wang.

However, in a departure from Meta’s prior open-source strategy, Muse Spark is a closed model, meaning its code will not be publicly available.

The company said it plans to offer the model in private preview to select partners through an API and may open-source future versions.

India has withdrawn its bid to host the 33rd edition of the Conference of Parties (COP 33) in 2028 — the annual United Nations climate talks — according to a report by Climate Home News (CHN) on Wednesday (April 8, 2026).

Prime Minister Narendra Modi had announced India’s interest in hosting COP 33 at COP 28 in Dubai in 2023.

Air India chief executive Campbell Wilson has stepped down from his position and will remain in the role until his successor is announced and in place, the airline stated in a release on 7 April.

“Wilson had conveyed his intention to step down in 2026 to Air India Chairman N. Chandrasekaran in 2024 and, since then, has been working to ensure the organization and leadership team is on a stable footing for the transition,” the statement added.

Notably, this development sets the stage for a leadership transition at a time when the airline is grappling with operational disruptions, rising costs and a likely record loss this year. These challenges have been compounded by the fallout from the 12 June 2025 crash of Flight AI 171, a Boeing 787 Dreamliner operated by the airline, which crashed shortly after take-off from Ahmedabad airport, killing 241 people on board and on the ground.

The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation launched the first-ever Annual Survey of Incorporated Services Sector Enterprises covering all States and Union Territories. Beginning from April, the survey aims at developing a comprehensive database of the incorporated services sector of the country. The survey covers incorporated services sector enterprises across India, with the reference period being the financial year 2024-25.

The Ministry said that under this, more than 1.21 lakh enterprises will be surveyed using the GSTN database as the sampling frame. NSO also published a reader-friendly explainer on the survey titled ‘Know Your Survey: A User Guide to the Annual Survey of Incorporated Services Sector Enterprises’ to engage with users and communicate survey processes in a more transparent and user-friendly manner.

She is the pride of India. The world’s first limbless archer, Payal Nag, delivered a moment that will be remembered for years.

On a tense evening in Bangkok, the 18 year old held her nerve to defeat her idol Sheetal Devi 139 to 136 and win gold at the World Para Archery Series Final in April 2026, in her very first senior international appearance. It was not just a win. It felt bigger than sport.

Born to a daily wage mason in Odisha, Payal’s life changed at the age of eight after a tragic electrocution accident that took all four of her limbs. For many, that would have ended everything. For her, it became the beginning.

A viral video of Payal painting with her mouth caught the attention of coach Kuldeep Kumar Vedwan, who saw her potential and brought her to his academy in Katra.

Researchers from the Zoological Survey of India (ZSI) have identified two new species of free-living marine nematodes off the coast of Tamil Nadu.

The study, conducted by researchers Ritika Datta and Anjum Rizvi, identifies the species as Corononema dhriti and Epacanthion indica—microscopic organisms that play major roles in maintaining ocean health.

Corononema dhriti is particularly notable, marking only the fourth known species within its genus worldwide. Previously recorded in regions such as Australia, Thailand and Vietnam, its presence in Indian waters represents a significant development in understanding global marine distribution patterns.

The Government e-Marketplace, GeM, has achieved a cumulative Gross Merchandise Value GMV of 18.4 lakh crore rupees, including crossing five lakh crore rupees GMV in the financial year 2025-26. Addressing the media in New Delhi this afternoon, Chief Executive Officer of GeM, Mihir Kumar, stated that crossing a cumulative GMV of 18.4 lakh crore rupees reflects the confidence of buyers, sellers and institutions in a transparent and technology-driven procurement ecosystem. He said this milestone reflects GeM’s growing role as a public digital platform enabling large-scale procurement across government entities. Mr Kumar said the platform facilitates procurement decisions, connects enterprises across regions to government demand and promotes economic inclusion, sustainability and transparency in public spending. He said the platform continues to evolve as a transparent, efficient and inclusive digital public procurement system, contributing to strengthening India’s public economy.

Indian shooters Palak Gulia and Mukesh Nelavalli won a gold medal with a new junior world record in the 10m air pistol mixed team event at the ISSF World Cup at Granada in Spain yesterday.

The duo scored a total of 487.7 points in the final, eclipsing the previous record of 481.3 created by Uzbekistan’s Nigina Saidkulova and Mukhammad Kamalov at the Asian Shooting Championships in New Delhi earlier this year. Palak scored 243.0, while Mukesh, making his senior debut, scored 244.7, This was Nelavalli’s maiden medal of any colour at ISSF World Cups.

Earlier, they performed well in the qualification round too, finishing second with a score of 581-17x and reaching the medal match. China’s team won silver with 484.8 points, and Hungary took bronze with 414.9.

18-year-old Palak had earlier won gold in the individual event and silver in the team event at the 2023 Asian Games, where she also set a record and earned a quota for the 2024 Paris Olympics. Mukesh is another rising star in Indian pistol shooting and is a junior world champion.

Global chip design and manufacturing major Intel on Tuesday elevated its India managing director and vice president, Santhosh Viswanathan, to head the Asia Pacific and Japan (APJ) region.

In the new role, Viswanathan will lead Intel’s overall business, brand, and customer engagements across both the Asia Pacific and Japan regions, the company said.

“APJ is one of the most diverse and fast-growing regions in the world, and its strength lies in its people, partners, and technology ecosystems,” Viswanathan said.

A company veteran of over two decades, Viswanathan has also worked for Intel in leadership positions across the Southeast Asia, Australia and New Zealand markets.