With the FCSS launch, GIFT City joins top global hubs like Hong Kong and Tokyo in enabling local, real-time settlement of foreign currency trades, boosting liquidity and compliance.

Finance minister Nirmala Sitharaman on Tuesday announced the launch of a Foreign Currency Settlement System (FCSS) at GIFT City to facilitate “real-time” settlement of financial transactions in foreign currency by entities in the international financial services centre (IFSC).

“Transactions in foreign currency by entities in IFSC are currently settled through the correspondent banking arrangements, which are routed through different participants and multiple nostro banks. Such transactions are not settled on a real-time basis and are usually settled with a lag of up to 36 to 48 hours. That’s the present story,” the finance minister said at the Global Fintech Fest in Mumbai on Tuesday.

“But the foreign currency settlement system, which gets launched today, seeks to solve this problem by facilitating seamless and efficient settlement of foreign currency transactions within IFSC on a real-time basis. Not 36 hours, not 48 hours, but just as it happens, enhancing liquidity management and operational resilience, while ensuring compliance with regulatory oversight under the PSS (Payments and Settlement System) Act,” she said.

With the operationalisation of the foreign currency settlement system, GIFT City joins the likes of financial centres that include Hong Kong, Tokyo, Manila, among others, which have the infrastructure to settle foreign currency transactions locally, she said.

The International Financial Services Centres Authority, in a circular on October 7, said that it has authorised CCIL IFSC Limited, a subsidiary of Clearing Corporation of India, to operate the FCSS. The subsidiary has entered into an agreement with Standard Chartered to act as the settlement bank.

GIFT City has been expanding at a rapid pace, supported by regulatory easing. As of March 31, 2025, the IFSC had a total registration of 865 entities covering the banking sector, capital markets, fund management, bullion, insurance sector and aircraft leasing. During the January-March quarter of FY25, the cumulative banking transactions at GIFT City were $147.69 billion, while average monthly turnover at exchanges there was $92.15 billion.

She further urged fintech companies to balance innovation with prudence as they mature, emphasising trust, safety, and inclusion. She highlighted responsible regulation as key to sustainable growth, urged collaboration with regulators, and called for fintech solutions for MSMEs, women, and green finance.

Sitharaman also pitched for using technology for public good, while expressing her concern at “weaponising” the advancements at the global level.

Citing the darker side of AI, she said, “The same tools that power innovation can be weaponised for deception and for fraud. I’m not personalising it, but I can say I have seen several deep fake videos of myself being circulated online, manipulated to mislead citizens and distort facts.”

“The new generation of fraud is no longer about breaching firewalls. It’s about hacking trust. Criminals are using AI to mimic voices, clone identities, and create lifelike videos that can manipulate people,” she observed.

source/content: telegraphindia.com (headline edited)

In last 10 years, India has initiated energy transitions in power (particularly coal) and industry (such as steel) through these 650-plus implemented policies.

After a decade of efforts under the Paris Agreement on Climate Change, India has implemented over 650 policies since 2015 and successfully achieved its 2030 target for non-fossil fuel electricity generation. However, to meet further climate goals without compromising economic growth, India will require approximately $4.5 trillion in investments by 2040.

A new report from the Deep Decarbonization Pathways (DDP) Initiative at the Institute for Sustainable Development and International Relations (IDDRI) indicates that India has met its electricity production targets as outlined in the Paris Agreement and is on track to achieve other objectives, such as reducing emissions intensity relative to GDP (from 2005 levels) and creating additional carbon sinks.

In last 10 years, India has initiated energy transitions in power (particularly coal) and industry (such as steel) through these 650-plus implemented policies. The report, prepared by experts from 21 countries—including India—highlights the need for around $4.5 trillion in investments by 2040 to develop infrastructure, enhance economic growth, and improve community well-being.

The report reveals shortcomings that hindered momentum. While countries have accelerated low-carbon technologies, gaps remain in coordination, social inclusion, and connection between long-term goals and current policies. The report states, “Long-term strategies are often disconnected from concrete policy decisions, and inter-ministerial coordination remains challenging.”

Henri Waisman, Director of the DDP Initiative, says, “The progress made in the last 10 years is significant. However, the lesson is clear: to achieve goals of the Paris Agreement, the next decade must focus on scaling up efforts, addressing social and industrial challenges, and ensuring that ambition is consistently translated into effective action.”

India initiated energy transitions through policies

In last 10 years, India has initiated energy transitions in power (particularly coal) and industry (such as steel) through these 650-plus implemented policies. The report, prepared by experts from 21 countries—including India—highlights the need for around $4.5 trillion in investments by 2040 to develop infrastructure, enhance economic growth, and improve community well-being.

source/content: newindianexpress.com (headline edited)

The Indian Navy said the commissioning of INS Androth adds a significant punch to its anti-submarine warfare capabilities, particularly in countering threats posed by adversaries in the littorals.

 ⁠In a boost to its anti-submarine capabilities in the country’s coastal areas, the Indian Navy on Monday commissioned its second state-of-the-art Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), Androth, at the naval dockyard in Visakhapatnam.

The commissioning ceremony was presided over by Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command.

The Indian Navy said the commissioning of INS Androth adds a significant punch to its ASW capabilities, particularly in countering threats posed by adversaries in the littorals. “The ship’s induction underscores the Navy’s continued emphasis on indigenisation, innovation, and capability enhancement, while reaffirming the vital contribution of GRSE in strengthening India’s maritime security architecture,” the Navy said.

At 77m in length and displacing about 1500 tonnes, INS Androth is specially designed to undertake anti-submarine operations in coastal and shallow waters.

The vessel, a state-of-the-art submarine hunter, is fitted with advanced weapons, sensors, and communication systems, enabling it to detect, track and neutralise sub-surface threats with precision. It can sustain prolonged operations in shallow waters and is equipped with technologically advanced machinery and control systems, the Navy said.

Powered by three waterjet propulsion systems driven by marine diesel engines, INS Androth is extremely agile and manoeuvrable. Its capabilities extend to maritime surveillance, search and rescue, coastal defence missions, and low intensity maritime operations (LIMO) making it a versatile platform for littoral operations.

As highlighted by The New Indian Express earlier, the Indian Navy’s focus on anti-submarine warfare is conspicuous with its planned induction of 16 ASW-SWCs, six P-8I Poseidon and more UAVs and drones for this purpose.

Built by Garden Reach Shipbuilders and Engineers (GRSE) Ltd., Kolkata, with over 80% indigenous components, Androth is a testament to the Centre’s vision of Aatmanirbharta (self-reliance) and a shining symbol of India’s growing maritime self-reliance. Constructed under the guidance of the Directorate of Ship Production and the oversight of the Warship Overseeing Team in Kolkata, Androth was handed over to the Indian Navy on September 13.

The name ‘Androth’ holds strategic and symbolic significance, derived from Androth Island in the Lakshadweep archipelago, underscoring India’s commitment to safeguarding its vast maritime territories.

In its previous avatar, INS Androth (P69) served the nation with distinction for over 27 years before being decommissioned. The commissioning of the new Androth honours the legacy and spirit of her predecessor.

source/content: newindianexpress.com (headline edited)

This new approach empowers public sector laboratories to scale up testing without incurring heavy investment in new machinery, enabling broader, more affordable access.

In a boost to India’s fight against tuberculosis, apex health research body ICMR has validated new indigenously developed tools that could bolster the country’s diagnostic capacity and offer a cheaper detection option.

Eliminating tuberculosis (TB) depends crucially on the ability to detect early, accurately, and universally, to initiate patients on treatment and curb community transmission.

Among the recently validated tools is Quantiplus MTB FAST detection kit, developed by Huwel Lifesciences in Telangana, the Indian Council of Medical Research (ICMR) said in a note.

Quantiplus is the first open system RT-PCR assay validated for the detection of lung TB as it can run on any existing PCR machine and is not limited to proprietary platforms.

“This means, laboratories across India, even those without specialised ‘closed’ equipment, can now expand rapid molecular TB testing using standard PCR machines,” a source explained.

Furthermore, Quantiplus can test as many as 96 samples simultaneously. Detecting TB in adults via sputum samples, this innovation not only enhances capacity but stands to make a dramatic difference in costs and estimates suggest it could reduce the price of TB testing by as much as one-fifth, the source said.

This new approach empowers public sector laboratories to scale up testing without incurring heavy investment in new machinery, enabling broader, more affordable access.

The second homegrown innovation validated by the ICMR is UniAMP MTB Nucleic Acid Test Card, also manufactured by Huwel Lifesciences, the ICMR note stated.

This marks a milestone in patient-friendly diagnostics as now patients can be tested using non-invasive tongue swabs instead of sputum samples which are difficult to produce, especially for children and the elderly, an official source said.

Traditionally, TB diagnosis has required invasive or difficult procedures to obtain quality sputum samples but tongue swabs provide a more comfortable, non-invasive alternative, and offer the possibility of doorstep TB diagnosis, supporting large-scale community screening efforts and widening the reach of life-saving TB care.

“Through ICMR’s rigorous and streamlined validation process, we are ensuring that innovative TB diagnostics are validated quickly. This effort reflects India’s resolve to strengthen indigenous research and innovation, close gaps in early detection and treatment, and ultimately help the country to move closer to eliminating tuberculosis as a public health challenge,” Dr Nivedita Gupta, Head, Communicable Diseases Division, ICMR, said.

These new tools follow upgrades in existing tools, Truenat and PathoDetect, that help decentralise high-precision Nucleic Acid Amplification Tests (NAAT).

This expansion can reduce delays in TB diagnosis and ensure effective treatment of both drug-sensitive TB patients and those resistant to anti-TB drugs, she added.

The validation of these innovations – encompassing lab systems, decentralised testing, and non-sputum-based point-of-care diagnostics – reflects the government’s commitment towards nurturing a thriving domestic scientific ecosystem.

Should these technologies be deployed at scale, they hold the promise of being gamechangers – making TB testing faster, cheaper, and much more accessible to those who need it most.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

source/content: telegraphindia.com (headline edited)

Union Labour Minister says over 940 million people benefitted; ISSA lauds digital-first approach.

The Union Labour Ministry has highlighted the expansion of social protection in the country from 19% in 2015 to over 64% in 2025 at a conclave of the International Social Security Association (ISSA) held in Kuala Lumpur, The Union Labour Ministry on Friday highlighted the expansion of social protection in the country from 19% in 2015 to over 64% in 2025 at a conclave of the International Social Security Association (ISSA) held in Kuala Lumpur, Malaysia.

Union Labour Minister Mansukh Mandaviya, who received the ‘ISSA Award 2025’ for ‘Outstanding Achievement in Social Security’ on behalf of the Government of India, said the Union Government’s policies had benefitted about 940 million people. He also said the ‘Global South’ should take the lead in framing model definitions for gig and platform workers for the global community at large.

A release from the Ministry said India had strengthened global partnerships on social security, employment and labour mobility by signing agreements with several countries on the sidelines of the ISSA World Social Security Forum. Mr. Mandaviya also held bilateral meetings with Uganda, Malaysia and the Malaysian government’s Pertubuhan Keselamatan Sosial (PERKESO) leadership on social security cooperation.

India’s representation within ISSA has been enhanced with voting rights, the release said. Mr. Mandaviya briefed the gathering on India’s digital-first approach to social protection delivery, particularly the e-Shram and National Career Service (NCS) platforms. “The President of ISSA congratulated India on its achievements in social protection, and appreciated the remarkable expansion in social security coverage within a short span of time, under the leadership of Prime Minister Narendra Modi,” the Ministry statement noted.

Mr. Mandaviya also expressed India’s willingness to support Uganda in developing digital platforms to effectively match talent with opportunity.

The Ministry said India was chosen as the 2025 recipient of the award for expanding social security coverage from 19% in 2015 to 64.3% in 2025, reaching over 940 million citizens. India’s share in the General Assembly of ISSA has reached 30, the highest vote share for any country.

“This award is a testament to the vision of our Prime Minister Narendra Modi, and to our guiding principle of Antyodaya, empowering the last person in the line, that has shaped our journey towards inclusive and universal social protection,” Mr. Mandaviya said.

source/content: thehindu.com (headline edited)

Briefing reporters on the decisions taken by the Union Cabinet, Union Minister Ashwini Vaishnaw said that keeping in mind the role played by the song during the freedom struggle, a decision was taken to hold country-wide celebrations to mark its 150th year.

The Union Cabinet on Wednesday (October 1, 2025) decided to celebrate 150 years of the national song, ‘Vande Mataram’,  across India.

The Constituent Assembly had accorded ‘Vande Mataram’, composed by Bankimchandra Chatterji, the status of national song.

Briefing reporters on the decisions taken by the Union Cabinet, Union Minister Ashwini Vaishnaw said that keeping in mind the role played by the song during the freedom struggle, a decision was taken to hold country-wide celebrations to mark its 150th year.

According to the ‘India.Gov’ portal, Vande Mataram was composed in Sanskrit by Bankimchandra Chatterji. It has an equal status with the national anthem, ‘Jana Gana Mana’.

source/content: thehindu.com (headline edited)

The Anusandhan National Research Foundation’s new tool will generate lay person summaries of complex scientific research, the science funding agency’s CEO said.

As part of its outreach to make scientific research more accessible, the Anusandhan National Research Foundation (ANRF), India’s newest science funding agency, has developed a tool called SARAL (Simplified and Automated Research Amplification and Learning).

This tool, the organisation’s CEO, Shivkumar Kalyanaraman said, would help generate lay person summaries of complex scientific research. This meant using Artificial Intelligence (AI) to extract information from research publications to generate “videos, podcasts, posters and presentation”, he said at a meeting organised earlier this week by the Federation of Indian Chambers of Commerce and Industry.

The ANRF would focus on harnessing “deep science and engineering” to create “deep tech products and start-ups”, Mr. Kalyanaraman said. The organisation would be developing an “AI Science and Engineering Open India Stack” that would significantly influence “drug and chemical discovery, aerospace design, climate and weather and advanced materials and design”, he said.

This July, the Union Cabinet approved a ₹1 lakh crore Research Development and Innovation Scheme that intends to provide low interest, long tenure loans to private companies to investment in core research and development.

The Foundation’s governing council is expected to play a critical role in evaluating which sectors could receive such funds. The ANRF is envisaged as a single-window clearance mechanism for funding research and development for universities and academic institutions. It is also expected to receive about 70% of its budget from private sources. In function, it has absorbed much of the role the erstwhile Science and Engineering Research Board had played in funding scientific research.

source/content: thehindu.com (headline edited)

The Ministry of Railways said on Tuesday that the train will have a guaranteed transit time of 120 hours. This development is seen as a significant milestone in the logistics sector.

The Railway Board is set to launch its first assured transit time (ATT) container train service on Wednesday between Delhi’s Tughlakabad and Kolkata’s Shalimar via Agra and Kanpur.

The Ministry of Railways said on Tuesday that the train will have a guaranteed transit time of 120 hours. This development is seen as a significant milestone in the logistics sector.

The service, being introduced on a pilot basis, will be operated by the Container Corporation of India Limited (CONCOR). It will connect four Inland Container Depots (ICDs) along the route: Tughlakabad (TICD), Agra (ICDY), Kanpur (ICDG), and Kolkata (CTKR/CTCS).

The train will initially have a bi-weekly schedule, departing every Wednesday and Saturday. A railway statement noted, “A unique feature of this service is the hub-and-spoke cargo facility at Agra and Kanpur, enabling efficient cargo aggregation for a wider catchment area.”

A railway official said, “The guaranteed transit time will mark a milestone in the logistics sector by delivering the consignments on time as per its schedule.” The Ministry also noted that customers will benefit from a waiver of empty wagon haulage charges between Tughlakabad and Kanpur. Officials clarified that if the train or some containers are empty between the starting point and Kanpur, customers will not be charged extra.

Outlining the objectives of this ATT service, the Railway said, “The pilot project is expected to provide multiple advantages to customers, including door-to-door assured and reliable delivery for time-sensitive cargo, a competitive alternative to road transport, enhanced connectivity for northern hinterland cargo, and priority benefits for early adopters.”

The Ministry added that the service supports sustainability by encouraging a shift from road to rail, reducing the carbon footprint, and aligning with India’s commitment to green logistics. “Through this initiative, Indian Railways and CONCOR reaffirm their focus on customer-centric, reliable, and sustainable logistics solutions,” the ministry said.

source/content: newindianexpress.com (headline edited)

Though the designed mission life of AstroSat was five years, it continues to provide valuable data.

India’s first dedicated Space Astronomy Observatory, AstroSat completed a decade of operations on Sunday (September 28, 2025).  

Ten years ago, on September 28, 2015, the AstroSat was launched by PSLV-C30 (XL) rocket from Satish Dhawan Space Centre in Sriharikota with a mission life of five years. Though the designed mission life of AstroSat was five years it continues to provide valuable data.

In the last decade, the multi wavelength space observatory with five payloads onboard has made major interesting discoveries.

Commemorating the milestone in a post on X, the Indian Space Research Organisation said, “On this day 10 years ago, AstroSat, India’s first multi wavelength astronomy observatory was launched by ISRO. From black holes to neutron stars, from the nearest star Proxima Centauri to first time detection of FUV photons from galaxies 9.3 billion light years away, AstroSat enabled groundbreaking insights across the electromagnetic spectrum from UV/Visible to high energy X-rays. Congratulating AstroSat for a successful decade and wishing many more years of exciting results and discoveries.”

Five payloads

AstroSat was designed to observe the universe in the Visible, Ultraviolet, low and high energy X-ray regions of the electromagnetic spectrum simultaneously with the help of its five payloads.

The five scientific payloads onboard the satellite are Ultra Violet Imaging Telescope (UVIT), Large Area X-ray Proportional Counter (LAXPC), Cadmium–Zinc–Telluride Imager (CZTI), Soft X-ray Telescope (SXT) and Scanning Sky Monitor (SSM).

Astrosat was realised by ISRO with the participation of all major astronomy institutions including Inter University Centre for Astronomy and Astrophysics (IUCAA) of Pune, Tata Institute of Fundamental Research (TIFR) at Mumbai, Indian Institute of Astrophysics (IIAP) and Raman Research Institute (RRI) of Bengaluru as well as some of the universities in India and two institutions from Canada and the UK.

source/content: thehindu.com (headline edited)