Daily Current Affairs 28th Aug 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Proposes Reforms to Block Deal Framework to Enhance Transparency and Curb Manipulation

• The Securities and Exchange Board of India (SEBI) has proposed key changes to the block deal framework to improve market transparency and reduce the potential for manipulation in large trades.
• A block deal is a large, single-share transaction executed between two parties during a specific trading window.

Key Highlights :

• Minimum Order Size: SEBI has proposed increasing the minimum order size for a block deal to ₹25 crore from the current ₹10 crore.
• This threshold has been in place since 2017.
• Pricing Mechanism: The regulator is reviewing the pricing mechanism for block deals, which currently allows trades within a 1% band of the previous day’s closing price.
  • For non-derivative stocks (stocks not in the Futures & Options segment), SEBI is considering widening the price band to 3%.
  • For futures and options (F&O) scrips, the existing 1% price band would be retained.
• Purpose: These proposals aim to curb potential manipulation in large transactions and ensure greater transparency in the stock market.
• Disclosures: Exchanges will be required to disclose block deal details, including the scrip name, client name, quantity, and price, on the same day after market hours.

Recent News :

• In Aug 2025, The SEBI proposed to officially include the definitions of “algorithm” and “proprietary trading” in its stock brokers’ regulations.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Sundaram Home Finance Rolls Out Affordable Housing Scheme under ‘Anugraha’ Brand

• Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has launched a new brand, ‘Anugraha’, to specifically cater to the affordable housing segment.
• This move is part of the company’s strategy to strengthen its presence in Tier II and III towns.

Key Points about ‘Anugraha’

• The new brand is designed to offer affordable housing finance to lower to mid-income families and individuals.
• This initiative falls under the company’s ‘Emerging Business’ segment, which also provides small business loans.
• The company began its foray into the affordable housing segment last year and has now formalized it with a dedicated brand.
• Managing Director (MD) of Sundaram Home Finance : Lakshminarayanan

Income Tax Dept Increases Prosecution Threshold for Undisclosed Foreign Assets to ₹20 Lakh from ₹5 Lakh

• The Income Tax Department has raised the threshold for initiating prosecution in cases of undisclosed foreign assets (excluding immovable property) to ₹20 lakh from the previous ₹5 lakh.
• This change, which is effective from October 1, 2024, is designed to provide relief and reduce compliance issues for employees working overseas.

Key Highlights :

• Increased Threshold: The value of undisclosed foreign assets (excluding real estate) that can lead to prosecution has been raised to ₹20 lakh.
• Legal Framework: This relief pertains to offenses under the Black Money Act (BMA), 2015.
• The BMA prescribes a penalty of up to ₹10 lakh under sections 42 and 43 for non-disclosure, while prosecution can be initiated under sections 49 and 50.
• Exclusion: The revised threshold does not apply to immovable foreign property.
• Target Audience: The move is specifically aimed at simplifying compliance for Indian employees deputed overseas, who might have small-value foreign assets like bank accounts or investments.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

CABINET APPROVALS:

I) India’s Bid to Host Commonwealth Games 2030 Approved by Union Cabinet

• Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of the Ministry of Youth Affairs & Sports for submission of bid for the Commonwealth Games (CWG) 2030.
• Approval also granted for signing the Host Collaboration Agreement (HCA) along with required Guarantees from Ministries, Departments and Authorities, and sanction of grant-in-aid to Gujarat Government if bid is accepted.

Key Highlights

• Athletes from 72 countries will participate in CWG, along with coaches, officials, tourists, and media, boosting local businesses and revenue generation.
• Ahmedabad chosen as ideal host city with world-class stadiums and facilities. Narendra Modi Stadium, world’s largest, already hosted 2023 ICC Cricket World Cup Final successfully.
• Event expected to have long-term benefits including:
  • Tourism boost and job creation.
  • Opportunities in sports science, event operations, logistics, broadcasting, IT, PR, and communications.
  • Encouragement for youth participation in sports and new career paths.
• Hosting CWG 2030 will foster national pride, unity, and inspire the next generation of athletes in India.

II) Union Cabinet Approves Restructuring and Extension of PM SVANidhi Scheme till 2030

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the restructuring and extension of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond 31.12.2024 till 31 March 2030.
• The scheme’s total outlay is ₹7,332 crore.
• It aims to benefit 1.15 crore beneficiaries, including 50 lakh new beneficiaries.

Key Highlights

• Implementation will be jointly done by MoHUA and Department of Financial Services (DFS).
• Enhanced loan amounts:
  • First tranche increased from ₹10,000 to ₹15,000.
  • Second tranche increased from ₹20,000 to ₹25,000.
  • Third tranche remains at ₹50,000.
• UPI-linked RuPay Credit Card to be provided after repayment of second loan for meeting business/personal requirements.
• Cashback incentives up to ₹1,600 on retail & wholesale digital transactions.
• Coverage expanded to statutory towns, census towns, peri-urban areas in a graded manner.
• Scheme to focus on entrepreneurship, financial literacy, digital skills, marketing, hygiene & food safety trainings (in collaboration with FSSAI).
• ‘SVANidhi se Samriddhi’ to be further strengthened through monthly Lok Kalyan Melas ensuring saturation of GoI schemes to beneficiaries’ families.
• Launched on 1st June 2020 to support street vendors during COVID-19 pandemic.
• Achievements (as of July 30, 2025):
  • Over 96 lakh loans worth ₹13,797 crore disbursed to 68 lakh vendors.
  • Nearly 47 lakh digitally active beneficiaries made 557 crore transactions worth ₹6.09 lakh crore, earning ₹241 crore cashback.
  • Under ‘SVANidhi se Samriddhi’, 46 lakh beneficiaries across 3,564 ULBs profiled, leading to 1.38 crore scheme sanctions.
• Awards:
  • PM’s Award for Excellence in Public Administration (2023) for Innovation (Central Level).
  • Silver Award for Excellence in Government Process Re-engineering (2022).
• The scheme ensures holistic development of street vendors, empowering them with reliable finance, socio-economic upliftment, and inclusive urban economic growth.

National Highways Authority of India Launches ‘Project Aarohan’ to Support Education of Toll Plaza Employees’ Children

• National Highways Authority of India(NHAI) in collaboration with Vertis Infrastructure Trust launched ‘Project Aarohan’ to support educational aspirations of children of toll plaza employees.
• The program was launched by NHAI Chairman Shri Santosh Kumar Yadav at NHAI Headquarters, New Delhi, in presence of Dr. Zafar Khan, Executive Director & Joint CEO, Vertis Infrastructure Trust, and senior NHAI officials.

Key Highlights

• Aim: To remove financial barriers, bridge socio-economic divides, and provide equal access to quality education for students from economically weaker sections, SC/ST/OBC, minority communities, first-generation learners, and girls from low-income households.
• Implementation: To be carried out by SMEC Trust’s Bharat Cares.
• Fund Allocation: Rs. 1 Crore for the first phase (July 2025 – March 2026).
• Coverage:
  • 500 students from Class 11 to final-year graduation to get annual scholarship of Rs. 12,000 in FY 2025–26.
  • 50 bright students aspiring for postgraduate and higher studies to get scholarship of Rs. 50,000 each.

Prime Minister Narendra Modi Inaugurates Green Mobility Initiatives at Hansalpur, Gujarat

• Prime Minister Narendra Modi inaugurated Green Mobility Initiatives at Hansalpur, Gujarat.
• Marking a new milestone in Make in India, PM flagged off Suzuki’s first global strategic Battery Electric Vehicle (BEV) – “e VITARA”.
• The Made-in-India BEVs will be exported to over 100 countries, including advanced markets like Europe and Japan.

Key Highlights

• Also inaugurated local production of Hybrid Battery Electrodes at TDS Lithium-Ion Battery plant, Gujarat (Joint venture of Toshiba, Denso & Suzuki).
• Over 80% of battery value will now be manufactured domestically, boosting Aatmanirbhar Bharat.
• Announced Hybrid E-Ambulance prototype, developed by Maruti Suzuki in just 6 months under ₹11,000 crore PM E-DRIVE scheme.
• EV & Hybrid EVs seen as solution to pollution & mobility challenges.
• Highlighted success of Make in India:
  • Electronics production ↑ 500% in a decade.
  • Mobile production ↑ 2700% since 2014.
  • Defence production ↑ 200% in 10 years.
• Announced launch of National Critical Mineral Mission with 1200+ exploratory campaigns to identify rare earth minerals.
• Reaffirmed focus on Mission Manufacturing & futuristic industries like semiconductors (6 plants coming up in India).
• Stressed on India–Japan partnership in manufacturing, skill development & clean mobility.
• Gujarat CM Bhupendrabhai Patel, Japan’s Ambassador to India, and Suzuki officials attended the event.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Nayara Energy Announces Appointment of Teymur Abasguliyev as Chief Executive Officer, Effective September 2025

• Nayara Energy appointed Teymur Abasguliyev as new Chief Executive Officer (CEO), effective September 2025.
• Teymur has 20+ years international leadership experience in the energy sector, known for organisational transformation and sustainable growth.
• Since 2013, he has served as Chief Financial Officer (CFO) for Group Companies at SOCAR Türkiye Enerji A.Ş.
• Handled corporate governance, financing, M&A, capital markets, and large-scale restructuring.
• Teymur is a Fellow of the UK Association of Certified Public Accountants (FCCA) since 2002.

Career timeline:

• Began in 1994 at the Centre for Strategic and International Studies.
• Spent 17 years at PwC (Pricewaterhouse Coopers) → rose to Senior Manager & Partner, led major projects across Central & Eastern Europe.
• Sergey Denisov served as interim leader during the transition; will continue as Chief Development Officer (CDO), focusing on petrochemical ventures and strategic initiatives.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Commissions Stealth Frigates INS Udaygiri and INS Himgiri in Vizag in Presence of Defence Minister

• In a major step toward achieving naval self-reliance, the Indian Navy has simultaneously commissioned two Project 17A multi-mission stealth frigates, INS Udaygiri and INS Himgiri.
• The commissioning ceremony, presided over by Defence Minister Rajnath Singh, took place at Visakhapatnam on August 26, 2025.
• This is the first time in the Navy’s history that two such major frontline warships, built by different shipyards, were commissioned at the same time.

Key Highlights

• INS Udaygiri, built by Mazagon Dock Shipbuilders Ltd. (MDL) in Mumbai, is the 100th ship designed in-house by the Indian Navy’s Warship Design Bureau (WDB), marking a significant milestone in India’s indigenous warship design capabilities.
• INS Himgiri was constructed by Garden Reach Shipbuilders & Engineers (GRSE) in Kolkata.
• Both frigates are part of the Project 17A series, which are a follow-on to the Project 17 (Shivalik class) frigates.
• These new ships feature enhanced stealth capabilities and improved sensor and weapon systems.
• The frigates are equipped with a suite of advanced indigenous weapons and sensors, including BrahMos supersonic cruise missiles and Barak-8 surface-to-air missiles, with an indigenous content of about 75%.
• The ships were named after their illustrious predecessors, the former INS Udaygiri (1976-2007) and INS Himgiri (1974-2005), linking India’s naval heritage with its modern aspirations.
• Upon commissioning, both frigates will join the Eastern Fleet under the Eastern Naval Command to secure maritime interests in the Bay of Bengal and the larger Indian Ocean region.

Indian Army Launches Military-Civil Integration Drill in Assam and Manipur

• The Indian Army has initiated Exercise Samanvay Shakti 2025, a Military-Civil Integration Exercise in collaboration with the state governments of Assam and Manipur.
• The exercise, which will run from August 20-30, 2025, aims to improve synergy and cooperation between security forces, government departments, and civil institutions in addressing the complex challenges of the region.

Key Highlights of the Exercise

• Location: The exercise was inaugurated at Laipuli in the Tinsukia district of Assam. A similar, concurrent exercise is being undertaken in Manipur.
• Participants: A wide range of organizations are participating, including the Indian Army, Indian Air Force, District Administration, Police, Intelligence Agencies, NDRF, SDRF, Medical Officials, BRO & GREF, Railways, educational institutions, and officials from public sector undertakings like OIL India, IOCL, and Coal India.
• Purpose: The primary objective is to create a unified and coordinated approach for regional challenges.
• It aims to achieve an improved state of readiness through practical rehearsals, refined standard operating procedures, and unhindered communication channels.
• Areas of Focus: The exercise covers a broad spectrum of activities including disaster management, healthcare, education, narcotics control, road safety, and public works development.
• Special Initiatives: The exercise includes aspects of infrastructure development through Operation Sadbhavna and aims to promote employment opportunities in the Armed Forces.

INS Tamal Visits Souda Bay to Boost India-Greece Maritime Cooperation

• INS Tamal, a stealth frigate of the Indian Navy, called at Souda Bay, Greece from August 19-22, 2025.
• This port call is part of the ship’s passage to her home base in India.
• The crew engaged with the Hellenic Navy and NATO

The Commanding Officer of INS Tamal met with:

• Commodore Dionysios Mantadakis, Base Commander of Souda Bay Naval Base.
• Captain Kouplakis Iliias, Head of the NATO Maritime Interdiction Operation Training Centre (NMIOTC)
• Captain Stephen Steacy, Commanding Officer of the Naval Support Activity of the US Navy.
• A cross-deck visit was conducted for the crew of INS Tamal aboard the Italian Navy’s multi-role amphibious assault unit, ITS Trieste (a Landing Helicopter Dock).
• Upon sailing out of Souda Bay on August 22, 2025, INS Tamal participated in a Passage Exercise (PASSEX) with HS Ritsos, a patrol boat of the Hellenic Navy.
• The visit reflects India’s effort to strengthen defense cooperation and maritime diplomacy with Greece.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

WestBridge Capital Acquires 15% Stake in Edelweiss Asset Management for ₹450 Crore

• WestBridge Capital, a $7-billion global investment firm, has acquired a 15% stake in Edelweiss Asset Management for ₹450 crore.
• This acquisition provides WestBridge with a strategic entry into the Mutual Fund (MF) business.
• Edelweiss Asset Management has equity assets under management (AUM) of ₹72,600 crore, which has grown by 53% over the last five years.
• The deal is subject to regulatory approvals from SEBI and the Competition Commission of India (CCI).
• Chairman and MD of Edelweiss Financial Services (EFSL) : Rashesh Shah

CURRENT AFFAIRS: MOUS AND AGREEMENT

MoU Signed Between Ministry of Minority Affairs and ICAR-CMFRI Under PM VIKAS Scheme

• Union Minister of State George Kurian chaired the MoU signing between the Ministry of Minority Affairs and ICAR-Central Marine Fisheries Research Institute (CMFRI) at Kovalam, Kerala.
• The project is part of Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) scheme, focusing on skill training and women entrepreneurship development.

Key Highlights:

• All participants will receive stipends during training.
• The project aims to promote self-employment opportunities and socio-economic empowerment of minority communities.
• ICAR-CMFRI will serve as the implementing agency, providing training, mentoring, and incubation support.
• The initiative is part of flagship projects under PM VIKAS, which integrates earlier skilling and education programmes to uplift six notified minority communities.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

CURRENT AFFAIRS: SPORTS NEWS

Ravichandran Ashwin Announces Retirement from IPL

• Ravichandran Ashwin, legendary off-spinner and one of India’s finest cricketing minds, has retired from the Indian Premier League (IPL) after playing his last season with Chennai Super Kings (CSK) in 2025.
• With his exit from both international and IPL cricket, Ashwin can now explore opportunities in global T20 leagues, in line with BCCI’s policy.

Key Highlights

• IPL Career Overview:
  • Debut: 2009
  • Matches played: 221
  • Franchises represented: CSK, Punjab Kings, Delhi Capitals, Rajasthan Royals
  • Bowling record: 187 wickets, economy rate 7.20, best bowling 4/34
  • Batting record: 833 runs, highest score 50, strike rate 118.15
• BCCI Policy Note: Indian players can play in foreign T20 leagues only after retiring from both international and IPL cricket.
• International Retirement: Ashwin retired from international cricket in December 2024 after the Border-Gavaskar Trophy in Australia.

FIDE World Cup 2025 to be Hosted in Goa, India

• The FIDE World Cup 2025 will be held in Goa from October 30 to November 27, 2025.
• A total of 206 players will compete in a knockout format for a USD 2,000,000 prize pool and three spots in the 2026 Candidates Tournament.

Key Highlights

• Goa was chosen for its beaches, vibrant culture, and hospitality, offering players and fans a global sporting experience.
• India has emerged as a global chess powerhouse, producing champions and hosting major events.
• Recent achievements:
  • Gukesh Dommaraju became the World Champion in 2024.
  • Indian teams won the Chess Olympiad (Open & Women categories).
  • Divya Deshmukh won the Women’s World Cup 2024.
• Hosting the Open World Cup in Goa builds on India’s recent chess successes and gives fans a chance to watch top players live.
• FIDE President Arkady Dvorkovich stated that 90+ countries are expected to participate, making it one of the most followed events in chess history.

About The International Chess Federation or World Chess Federation (FIDE)

• Headquarters: Lausanne, Switzerland
• Membership: 203 national
• President: Arkady Dvorkovich
• Deputy President: Viswanathan Anand

Union Minister Unveils Trophy for Men’s Hockey Asia Cup 2025 in Bihar

• Union Minister for Youth Affairs & Sports and Labour & Employment, Dr. Mansukh Mandaviya unveiled the Hockey Men’s Asia Cup 2025 Trophy in New Delhi is the 12th edition of the tournament.
• The tournament will be held from August 29 to September 7, 2025, at the Rajgir Hockey Stadium, Bihar.
• This will be the first major international hockey tournament hosted in Bihar.

Key Highlights

• Notable dignitaries present included Harbinder Singh (three-time Olympic medalist), Ashok Dhyanchand (1972 Olympics bronze medalist), and Zafar Iqbal (1980 Moscow Olympics gold medalist) along with officials from the Bihar State Government and Hockey India.
• The Asia Cup 2025 will act as a direct qualifier for the 2026 FIH Men’s Hockey World Cup in the Netherlands and Belgium.
• Qualification Rule:
  • Winner secures an automatic berth for the World Cup.
  • Teams finishing 2nd to 6th will advance to next year’s World Cup qualifiers.

• This edition will be historic as it is the first major international hockey tournament hosted in Bihar.
• The unveiling event was graced by legendary players:
• Harbinder Singh – three-time Olympic medalist.
• Ashok Dhyanchand – bronze medalist at 1972 Olympics.
• Zafar Iqbal – gold medalist at 1980 Moscow Olympics.

About Bihar:

• Capital: Patna
  • Chief Minister: Nitish Kumar
  • Governor: Arif Mohammed Khan
• National Parks: Valmiki National Park
  • Wildlife Sanctuaries: Valmiki Wildlife Sanctuary, Bhimbandh Wildlife Sanctuary, Kanwar Lake Bird Sanctuary, Udaypur Wildlife Sanctuary, Gautam Buddha Wildlife Sanctuary, Kaimur Wildlife Sanctuary

Mirabai Chanu Wins Gold at Commonwealth Weightlifting Championships 2025

• Tokyo Olympics silver medallist Mirabai Chanu made a triumphant return by winning the women’s 48kg title at the Commonwealth Weightlifting Championships in Ahmedabad.
• She lifted 84kg in snatch and 109kg in clean & jerk, with a total of 193kg, securing the gold medal with a record-breaking performance.
• This was her first competition since finishing fourth at the Paris Olympics 2024.

Key Highlights

• Chanu competed in the new 48kg category after the International Weightlifting Federation (IWF) revised weight divisions, as the 49kg class was removed from the Olympics.
• With this medal, Chanu directly qualified for the 2026 Commonwealth Games in Glasgow.
• This was her fifth medal at the Commonwealth Weightlifting Championships – Golds in 2013, 2017, 2019, 2025 and a Silver in 2015.
• Other Indian lifters also impressed: Preetismita Bhoi won gold in the women’s 44kg category, lifting 63kg in snatch and 87kg in clean & jerk (total 150kg), setting new Youth Commonwealth records in clean & jerk and total.

CURRENT AFFAIRS : OBITUARIES

Lord Swraj Paul, India-Born Caparo Group Chairman, passed away in London at 94

• Lord Swraj Paul, the India-born Chairman of the UK-based Caparo Group, passed away in London at the age of 94.
• He moved to the UK in 1966 and founded the Caparo Group in 1968. The company has operations in the UK, India, USA, Canada, and UAE, with its headquarters in London.
• In India, he is known for his failed takeover bids of Escorts and DCM in the 1980s.
• His takeover attempts led to the formation of the Bombay Club, a group of Indian industrialists who sought to protect their companies from hostile takeovers.
• A member of the House of Lords (Baron Paul of Marylebone) and a noted philanthropist, he established the Ambika Paul Foundation in memory of his daughter.
• He was awarded the Padma Bhushan in 1983.

Daily CA One- Liner: August 28

• Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of the Ministry of Youth Affairs & Sports for submission of bid for the Commonwealth Games (CWG) 2030
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the restructuring and extension of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme beyond 12.2024 till 31 March 2030.
• National Highways Authority of India(NHAI) in collaboration with Vertis Infrastructure Trust launched ‘Project Aarohan’ to support educational aspirations of children of toll plaza employees.
• Prime Minister Narendra Modi inaugurated Green Mobility Initiatives at Hansalpur, Gujarat
• Union Minister of State George Kurian chaired the MoU signing between the Ministry of Minority Affairs and ICAR-Central Marine Fisheries Research Institute (CMFRI) at Kovalam, Kerala
• Ravichandran Ashwin, legendary off-spinner and one of India’s finest cricketing minds, has retired from the Indian Premier League (IPL) after playing his last season with Chennai Super Kings (CSK) in 2025
• The FIDE World Cup 2025 will be held in Goa from October 30 to November 27, 2025
• Union Minister for Youth Affairs & Sports and Labour & Employment, Dr. Mansukh Mandaviya unveiled the Hockey Men’s Asia Cup 2025 Trophy in New Delhi is the 12th edition of the tournament
• Tokyo Olympics silver medallist Mirabai Chanu made a triumphant return by winning the women’s 48kg title at the Commonwealth Weightlifting Championships in Ahmedabad.
• The Securities and Exchange Board of India (SEBI) has proposed key changes to the block deal framework to improve market transparency and reduce the potential for manipulation in large trades.
• Sundaram Home Finance, a subsidiary of Sundaram Finance Ltd, has launched a new brand, ‘Anugraha’, to specifically cater to the affordable housing segment.
• The Income Tax Department has raised the threshold for initiating prosecution in cases of undisclosed foreign assets (excluding immovable property) to ₹20 lakh from the previous ₹5 lakh.
• Nayara Energy appointed Teymur Abasguliyev as new Chief Executive Officer (CEO), effective September 2025.
• In a major step toward achieving naval self-reliance, the Indian Navy has simultaneously commissioned two Project 17A multi-mission stealth frigates, INS Udaygiri and INS Himgiri.
• The Indian Army has initiated Exercise Samanvay Shakti 2025, a Military-Civil Integration Exercise in collaboration with the state governments of Assam and Manipur.
• INS Tamal, a stealth frigate of the Indian Navy, called at Souda Bay, Greece from August 19-22, 2025.
• WestBridge Capital, a $7-billion global investment firm, has acquired a 15% stake in Edelweiss Asset Management for ₹450 crore.
• Lord Swraj Paul, the India-born Chairman of the UK-based Caparo Group, passed away in London at the age of 94.