The Reserve Bank has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms regarding loans. In a statement, the RBI said the penalty on IDFC First Bank has been imposed for non-compliance with certain directions on 'Loans and Advances - Statutory and Other Restrictions'.

The Statutory Inspection for Supervisory Evaluation for FY22 revealed that the bank had sanctioned term loans to a public sector undertaking for financing infrastructure projects without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations. The repayment/servicing of the term loans was made out of budgetary resources.

Parivartan Chintan, a pioneering Tri-Service Conference aimed at generating new and fresh ideas, initiatives and reforms to propel Jointness and Integration efforts will be held in New Delhi on Monday. The day long discussions will be chaired by Chief of Defence Staff, General Anil Chauhan.

It will be the first ever conference of the Heads of all Tri- Services Institutions, the Department of Military Affairs, Headquarters Integrated Defence Staff and the three Services. Officers from varied service brackets, through their diverse understanding and experience will recommend measures to achieve the desired “Joint and Integrated” end state with celerity.

Defence Ministry said, with the Indian Armed Forces having embarked on a major transformative change in their quest to be ready for the envisaged future wars, initiatives are being undertaken to promote Jointness and Integration as structures are modified to enable Tri- Service multi domain operations.

New Zealand won the men’s and women’s titles at the Hong Kong Sevens on Sunday to cap off a tournament that sets a scene for rugby at the Paris Olympics.

The All Blacks Sevens scored the first two tries in a 10-7 win over France in the men’s final to successfully defend their title and bring an end to the three-day carnival in the traditional home of the rugby sevens format.

Michaela Blyde scored three tries in a player-of-the-final performance and Mahina Paul crossed for a late double in New Zealand’s 36-7 win over the United States for the women’s title.

Max Verstappen, the reigning world champion, reclaimed his winning form on Sunday, securing a triumphant third consecutive pole-to-flag victory at the Japanese Formula One Grand Prix. The Red Bull driver led his teammate Sergio Perez to a spectacular 1-2 finish at Suzuka, showcasing their team's dominance on the track.

Following a setback with his first retirement since 2022 in Melbourne, which put an end to his nine-race winning streak, the Dutchman encountered no mechanical issues this time around. Verstappen's flawless performance marked his third win out of four races this season, reaffirming his prowess behind the wheel.

In a post-race reflection, Verstappen expressed his satisfaction over the team radio, stating, "That was a very lovely race, the car just got better and better."

President Droupadi Murmu on April 4 launched India’s first indigenously-developed CAR T-cell therapy for treatment of cancer, hailing it as a “major breakthrough” that provides a “new hope for the humankind” in the battle against the disease.

During the launch event held at the Indian Institute of Technology (IIT) Bombay located in Powai in Mumbai, she also said the development of this therapy is an example of the ‘Make in India’ initiative.

Developed by the IIT Bombay and the Tata Memorial Centre, this gene-based therapy will help in curing different types of cancer. This NexCAR19 CAR T-cell therapy is the country’s first ‘Made in India’ CAR T-cell therapy, which will significantly bring down the cost of cancer treatment.

Telecom Secretary Neeraj Mittal on Friday virtually launched an experimental licence module for 100 5G Labs during a workshop at IIT Madras, an official statement said. The Department of Telecom (DoT) has granted around 1,500 experimental licences for 5G labs since the launch of the programme for carrying out trials and testing use cases for 5G services, the statement said.

"In a move to smoothen the processes for 100 5G Labs across academic institutions in India, Secretary (Telecom), Dr Neeraj Mittal, virtually launched the experimental licence module for 100 5G Labs during a 5G workshop at IIT Madras.

The Centre for Cellular and Molecular Platforms (C-CAMP) in Bengaluru has developed a new platform that makes it easier and cheaper to study single cells.

Named OptiDrop, the platform has potential applications in diagnostics, therapeutics, agriculture, and animal health. The novel microfluidic chip-based platform allows for optical sensing of biological samples without the expensive open space, and bulky optical components routinely used in microscopy and flow cytometry-based techniques.

This innovation, developed by C-CAMP’s Discovery to Innovation Accelerator team enables the study of single cells encapsulated in droplets with ease and precision.

Indian Farmers Fertiliser Cooperative Limited (IFFCO), the world's biggest fertiliser cooperative and leader in the fertiliser manufacturing industry, signed a MoU with ACME Cleantech Solutions Private Limited (ACME), a pioneer in renewable energy for the purchase and supply of about 200,000 MT Ammonia made through the renewable energy route; a significant step towards sustainable agriculture and renewable energy usage in India.

This initiative is in line with PM's vision of the National Green Hydrogen Mission. This will make India the global hub for the production, usage and export of green hydrogen and its derivatives.

Glamour and Lifestyle Awards 2024: Celebrating Excellence in Style and Sophistication- The Glamour and Lifestyle Awards 2024 dazzled the city of Mumbai with its opulence and grandeur, solidifying its status as a hallmark event in the realm of glitz and glam. This prestigious awards ceremony, held at the exquisite Sethia Banquet of Raghulila Mall in Kandivali West, showcased the creme de la creme of the lifestyle and entertainment industries, making it a night to remember for all attendees.

From the moment guests stepped onto the red carpet, they were enveloped in an atmosphere of sophistication and elegance. The venue was transformed into a veritable paradise, adorned with dazzling lights, luxurious decor, and an aura of exclusivity that permeated every corner. It was a celebration of all things glamorous, where style and sophistication reigned supreme.

India’s foreign exchange reserves reached an all-time high of US$ 645.6 billion as of March 29, 2024, with Reserve Bank of India Governor Shaktikanta Das emphasising that they act as a buffer against future risks.

“Consciously, over the last 4-5 years, we have been building up reserves, as the market moves, depending on the prevailing market situation. That endeavor continues because it acts as a buffer against future risks especially in situation when the cycle turns and if there are significant outward flows of dollars. It is by way of a buffer that we are building up reserves. This whole approach adds to the strength of the national balance sheet,” Das said

India’s holds the world’s fourth largest forex reserves after China, Switzerland, and Japan.