Blog

08 May

Kotak Mahindra Bank gets nod to buy 9.99% stake in City Union Bank

anuprovaBusiness

In a major regulatory development, the Reserve Bank of India (RBI) has permitted Kotak Mahindra Bank to acquire a strategic stake of up to 9.99 per cent in Tamil Nadu-based City Union Bank (CUB). The announcement in a regulatory filing on May 7, 2026, confirms the central bank issued its “no-objection” letter earlier this week. The approval will enable Kotak Mahindra Bank and its subsidiaries and managed funds to raise their combined stake in the century-old private sector lender based in Kumbakonam. The acquisition is subject to compliance with the Banking Regulation Act, 1949 and the RBI’s 2025 Master Directions…

08 May

Arunachal Government Announces Memorial for Gyamar Padang

riyaArunachal Pradesh

Arunachal Pradesh Chief Minister Pema Khandu announced that the state government will erect a memorial statue in honour of late Gyamar Padang, recognising his contribution towards promoting transparency and accountability in public institutions. Announcing the decision on social media, Khandu said Padang’s efforts had played a major role in exposing loopholes in the recruitment system and helped strengthen transparency, accountability and efficiency in governance. “Today, I met his family members and conveyed my heartfelt respect and condolences. The memorial will stand as a lasting tribute to his life and inspire future generations to uphold honesty, responsibility and public service,” the…

08 May

Swearing-In Ceremony Held for New AMC Corporators; Mayor, Deputy Mayor Elected

riyaMizoram

The swearing-in ceremony of the 19 newly elected corporators of the Aizawl Municipal Corporation (AMC) was held on Thursday at the Board of Corporators (BOC) Meeting Hall, AMC Office, Thuampui. The Mayor and Deputy Mayor were also elected during the function. The function was chaired by Municipal Commissioner Joseph H. Lalramsanga. After the names of the newly elected corporators were read out, Aizawl District Magistrate Lalhriatpuia, administered the oath of allegiance to the Constitution of India to the 19 newly elected AMC corporators. Following the swearing-in ceremony, the election of the Mayor and Deputy Mayor was conducted in accordance with…

07 May

Nifty 50 Reclaims Crucial Support as U.S.-Iran Peace Hopes Ignite Path Toward 25,000

anuprovaBusiness

The Indian equity market staged a resilient recovery this week as the Nifty 50 bounced back from its critical support zone near 24,000, closing at 24,326 on Thursday after a volatile session. Investor sentiment has been dramatically reshaped by mounting optimism over a potential peace deal between the United States and Iran, which could bring an end to the "Strait of Hormuz" blockade that has choked global energy supplies since February. Reports of a one-page memorandum of understanding currently under review in Tehran triggered a sharp correction in Brent crude prices—which tumbled from recent highs above $115 toward the $95…

07 May

Sikkim State Day 2026 preparations in full swing ahead of Vice President visit

Sonakshi SarkarSikkim

Preparations for the upcoming State Day Celebrations 2026 in Sikkim have gathered pace with the state government holding a high-level coordination meeting at the Tashiling Secretariat on Tuesday to review arrangements for the event, which will be attended by the Vice President of India, C. P. Radhakrishnan. The meeting was chaired by Chief Secretary of Sikkim, R. Telang, who reviewed the overall programme schedule and assessed the responsibilities assigned to different departments for the successful organisation of the celebrations. Officials said the State Day celebrations are expected to be held on a large scale this year in view of the…

07 May

Life insurance industry posts 15.7% growth in FY26, premium collections near Rs 4.6 lakh crore

Business BureauBusiness

India’s life insurance industry reported robust growth in FY26, with total new business premium (NBP) rising 15.7% year-on-year to ₹4,59,713 crore, compared to ₹3,97,337 crore in FY25, signalling strong demand and improving market confidence. In March 2026, insurers collected ₹75,872 crore in new business premium, up from ₹61,439 crore in March 2025, reflecting sustained traction across both individual and group segments. Growth was led by the group business segment, with Group Single Premium increasing 17.5% to ₹2,49,766 crore and Group Yearly Renewable Premium surging 39%. Group Non-Single Premium also registered notable gains, though on a smaller base. The individual segment…

07 May

Arunachal Deputy CM Joins Discussion on Buddhist Tourism Development in NE

riyaArunachal Pradesh

Arunachal Pradesh Deputy Chief Minister Chowna Mein has attended the inaugural session of the Regional Workshop on Development of the Buddhist Tourism Circuit in Northeast India at Tawang. Speaking on the occasion, he pitched for developing an integrated tourism circuit linking key Buddhist destinations in the northeastern states for a seamless spiritual and cultural experience for visitors. He said that the collaborative effort by roping in neighbouring states and countries should be branded 'Tawang Initiative' to give it a distinct global identity. Calling for a 'professional and collaborative' approach to the development of tourism, Mein said the proposed circuit should…

07 May

Geopolitical Unrest Fuels Profit Surge for Big Oil as Q1 Risk Premiums Spike

sonaliBusiness

The global energy landscape continues to be defined by the economic fallout of the 2026 Iran war, as Shell becomes the latest major to report a significant jump in quarterly earnings. On Thursday, the London-listed firm announced first-quarter profits of $6.92bn (£5.1bn), comfortably exceeding analyst projections of $6.36bn. This performance marks a sharp increase from the $5.58bn recorded during the same period last year, a growth trajectory driven almost entirely by the geopolitical premium now baked into every barrel of crude. The ongoing maritime blockade of the Strait of Hormuz—a critical artery that historically facilitates 20% of the world’s oil…

07 May

Arunachal Dy CM Proposes Transnational Buddhist Tourism Circuit

nanikaArunachal Pradesh

In a landmark proposal to redefine spiritual travel in the Himalayas, Arunachal Pradesh Deputy Chief Minister Chowna Mein has called for the creation of an integrated Buddhist tourism circuit. Speaking at a workshop on May 7 in Tawang, Mein proposed that this ambitious regional and international network be branded as the “Tawang Initiative,” aiming to provide the region with a distinct and formidable global identity. The proposed circuit is designed to create a seamless spiritual and cultural corridor connecting major Buddhist destinations across Northeast India—including Arunachal Pradesh, Assam, Sikkim, and Manipur—with neighboring nations such as Nepal, Bhutan, and Sri Lanka.…

07 May

Centre Focuses on Community-Led Rural Water Management Model

Sonakshi SarkarMizoram

The Centre has signed separate reform-linked agreements with Mizoram and Ladakh under Jal Jeevan Mission 2.0, shifting the focus of rural drinking water programmes from infrastructure creation to long-term service delivery and community-led management. According to the Ministry of Jal Shakti, the memoranda of understanding (MoUs) establish a service-based framework for transparent rural water governance, with gram panchayats playing a key role in the operation and maintenance of drinking water assets. The agreements were signed virtually in the presence of CR Patil and Minister of State V Somanna. Mizoram Chief Minister Lalduhoma and Ladakh Lieutenant Governor Vinai Kumar Saxena also…