NATIONAL NEWS

All-India Institute of Ayurveda Advances Ayush Insurance Access and Research

The All-India Institute of Ayurveda (AIIA) hosted key stakeholders from the insurance and academic sectors to promote integration of Ayush systems (Ayurveda, Yoga, Unani, Siddha, Homeopathy) with modern healthcare frameworks.

Aim is to make Ayush treatments more accessible, credible, and aligned with healthcare and insurance policies in India.

Following the Insurance Regulatory and Development Authority of India (IRDAI) directive in 2024, Ayush coverage is expected in all health insurance policies nationwide.

The Ministry of Ayush has established expert committees and implementation units to ensure structured policy support, claim management, and hospital empanelment protocols.

Project Management Unit (PMU):

A dedicated PMU at AIIA manages Ayush insurance-related matters.

It acts as a central node for coordination among insurance companies, hospitals, and government bodies.

It simplifies treatment verification, claims processing, and patient awareness.

It ensures efficient and equitable delivery of Ayush insurance benefits to the public.

India Designates Three Ports as Green Hydrogen Hubs

India has designated Deendayal Port (Gujarat), V.O. Chidambaranar Port (Tamil Nadu), and Paradip Port (Odisha) as Green Hydrogen Hubs under the National Green Hydrogen Mission.

The move supports India’s goal of achieving net-zero emissions by 2070 and promotes clean energy infrastructure.

The hydrogen hubs will function as integrated zones for production, storage, transportation, and consumption of green hydrogen.

Target sectors include shipping, logistics, fertilizers, and refining.

Ports were chosen strategically as they are energy-intensive nodes, gateways for trade, and hubs for heavy industries.

Development will be phased, allowing for infrastructure creation, technology deployment, and commercial-scale operations.

The initiative aims to establish India as a global hub for green hydrogen production and export, strengthening the country’s clean energy ecosystem.

Union Health Minister Unveils New Features of Tele MANAS App

On World Mental Health Day 2025 (10 October), Union Health Minister Shri Jagat Prakash Nadda launched new initiatives under the National Tele Mental Health Programme (Tele MANAS).

The new features include Tele MANAS App Enhancements such as Multi-lingual User Interface (UI), Chatbot, Accessibility, and Emergency Module.

The Tele MANAS App will now be available in 10 regional languages — Assamese, Bengali, Gujarati, Kannada, Malayalam, Marathi, Tamil, Telugu, Odia, and Punjabi, in addition to English and Hindi, improving accessibility for diverse linguistic users.

The app now includes accessibility features for visually impaired users, making it more inclusive for persons with disabilities and vulnerable groups.

A chatbot feature ‘Asmi’ has been introduced to help users seek information or assistance related to mental health.

An emergency response module has been added to provide timely guidance and support during crises.

Deepika Padukone has been appointed as the Mental Health Ambassador to raise awareness and normalize discussions around mental health in India.

 

INTERNATIONAL NEWS

India and United Kingdom to Launch Connectivity and Innovation Centre

India and the United Kingdom (UK) have announced a landmark strategic partnership to enhance digital inclusion and develop secure, innovative communication systems.

The newly launched India–UK Connectivity and Innovation Centre will integrate the strengths of both countries in advanced connectivity research and innovation from university-level research to lab testing, field trials, and market deployment.

The initiative aims to create new commercial opportunities by helping industry partners innovate, test, and scale telecom solutions for market adoption.

Over the next four years, during the crucial phase of 6G technology development, the Centre will focus on three main areas:

Transforming Telecom with Artificial Intelligence (AI): Using AI to optimise networks, enhance efficiency, and introduce new services.

Non-Terrestrial Networks (NTNs): Developing satellite and airborne systems to provide reliable, high-speed connectivity to rural and remote regions.

Telecom Cybersecurity: Strengthening network security through open and interoperable solutions to make communication systems resilient and secure.

 

BANKING

HDFC Bank Unveils ‘My Business QR’ Digital Identity Solution

HDFC Bank launched ‘My Business QR’, a digital identity solution for small businesses, at the Global Fintech Fest (GFF) 2025.

The initiative is India’s first commerce identity QR, aimed at helping retailers transition from offline to online platforms and enhance their digital presence and commerce capabilities.

The launch was a collaboration between HDFC Bank and Vyaparify, under the bank’s SmartHub Vyapar merchant app, which has over 2 million merchants across India.

 ‘My Business QR’ combines QR payments and chat functionalities, allowing customers to scan the QR code to access a merchant’s digital business profile and save it to their phone contacts, creating an online commerce-ready storefront.

The solution enables ordering and payments for products and services and improves merchant discoverability through search engine optimized listings.

The initiative is designed for small and medium enterprises (SMEs) to help them capture a larger share of local digital commerce without requiring major investments or technical skills.

HDFC Bank also introduced next-generation payment solutions focusing on UPI and India’s Digital Rupee at the event to make transactions simpler and more secure.

The overall goal of ‘My Business QR’ is to promote digital inclusion, enhance visibility and customer engagement, and support small business growth in India’s digital marketplace.

Reserve Bank of India Slaps ₹4.20 Lakh Penalty on HDB Financial Services

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹4.20 lakh on HDB Financial Services Limited on October 1, 2025 for regulatory violations.

The penalty was for non-compliance with provisions of the RBI (KYC) Directions, 2016.

After reviewing the company’s written and oral submissions, the RBI upheld the charge and confirmed the penalty.

The action was taken under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.

Reserve Bank of India Eases Merchanting Trade Rules

The Reserve Bank of India (RBI) revised norms for Merchanting Trade Transactions (MTT) to provide greater operational flexibility to traders.

The foreign exchange outlay period under MTT has been extended from 4 months to 6 months, giving traders more time to complete transactions.

The overall completion period for an MTT remains 9 months, counted from the first leg (export receipt or import payment) to the last leg of the transaction.

The revised directions take immediate effect and are issued under Sections 10(4) and 11(1) of FEMA, 1999.

Merchanting trade involves an Indian trader buying goods from a foreign supplier and selling to a foreign buyer without the goods entering Indian territory.

Reserve Bank of India Eases Compliance for Small Exporters and Importers

The Reserve Bank of India (RBI) has revised procedures for reconciliation and closure of entries under EDPMS (Export Data Processing and Monitoring System) and IDPMS (Import Data Processing and Monitoring System) to ease compliance for small exporters and importers.

For transactions up to ₹10 lakh per bill/entry, Authorised Dealer Category-I (AD) banks can now close entries based on a self-declaration from exporters (confirming realisation) or importers (confirming payment).

Quarterly consolidated declarations are now allowed for bulk reconciliation and closure of multiple small-value entries.

The revised directions are effective immediately and will be incorporated in the updated Master Directions on Export and Import of Goods and Services, issued under Sections 10(4) and 11(1) of FEMA, 1999.

 

DEFENCE

Pakistan Tests Newly Inducted Fatah-4 Cruise Missile

Pakistan conducted a training launch of its newly inducted Fatah-4 ground-launched cruise missile as part of efforts to modernize its defence arsenal amid rising regional tensions.

The Fatah-4 missile has a range of 750 km (466 miles) and is indigenously developed by Pakistan.

The missile can be launched from transporter-erector-launcher (TEL) vehicles, enhancing its mobility and deployment flexibility.

It is equipped with an advanced navigation suite, comprising Global Positioning System (GPS) and Inertial Navigation System (INS) for accurate targeting.

 

APPOINTMENTS & RESIGNATIONS

Executive Director of RBI

The Reserve Bank of India (RBI) has appointed Smt. Sonali Sen Gupta as Executive Director (ED) with effect from October 9, 2025.

Before her promotion, Sonali Sen Gupta was Regional Director for Karnataka at the Bangalore Regional Office.

She has over three decades of experience in the RBI, working in key areas such as Financial Inclusion, Human Resource Management, Banking Regulation, and Supervision.

She has represented RBI in G20 – Global Partnership for Financial Inclusion (GPFI) and OECD – International Network on Financial Education (INFE).

She has served as a Director on the Board of the National Centre for Financial Education (NCFE) and as a member of several internal and external committees.

Currently, she is RBI’s Nominee Director on the Board of Indian Overseas Bank.

As Executive Director, she will oversee the Consumer Education and Protection Department, Financial Inclusion and Development Department, and Inspection Department.

 

IMPORTANT DAYS

International Day for Disaster Risk Reduction

The International Day for Disaster Risk Reduction is observed on the 13th of October.

The day offers an opportunity to celebrate the advancements made in reducing disaster vulnerability and the resulting loss of lives, economy, and health.

The theme for the 2025 International Day for Disaster Risk Reduction (IDDRR), observed on October 13, is "Fund Resilience, Not Disasters".

The International Day for Natural Disaster Reduction was established by a resolution passed by the UN General Assembly in

However, the Assembly changed its resolution on December 21, 2009, deciding to observe the Day on October 13.

Also, the day was renamed International Day for Disaster Risk Reduction.