Bank of Baroda, IIFL Finance Enters Into Co-lending Partnership
Bank of Baroda (BoB) and IIFL Finance, in September 2025, entered into a co-lending partnership to offer gold loans. The loans will primarily target underserved and unbanked customer segments across semi-urban and rural India.
The collaboration aims to provide small borrowers with faster, easier, and more affordable credit for agricultural and allied activities, per a joint BoB and IIFL statement.
Under this agreement and in line with the Reserve Bank of India's guidelines on co-lending, IIFL Finance will originate and service the gold loans, while BoB will participate in the funding, with joint underwriting , enabling a seamless and scalable credit delivery mechanism.
Department of Posts and Indian Institute of Packaging Signs Strategic MoU to Advance Sustainable ...
In a significant step towards promoting sustainable packaging practices and enhancing postal service efficiency, the Parcel Directorate, Department of Posts (DoP), Ministry of Communications, Government of India, in September 2025, signed a comprehensive Memorandum of Understanding (MoU) with the Indian Institute of Packaging (IIP), an autonomous body under the Ministry of Commerce and Industry.
The MoU was signed by Dr. Sudhir Jakhere, IPoS, APMG(BD & Mktg.), Department of Posts, and Dr. Babu Rao Guduri, Addl. Director, Indian Institute of Packaging, Mumbai at O/o Chief Postmaster General, Maharashtra Circle, Mumbai.
The partnership focuses on developing innovative and sustainable packaging solutions across multiple domains. Under the agreement, IIP will provide comprehensive packaging solutions, which include:
Delivering expert packaging solutions to elevate India Post's parcel services, focusing on sustainable alternatives to current materials like corrugated boxes and cloth wraps. Development of airworthy packaging for liquids and similar items, alongside eco-friendly, cost-efficient, durable, shockproof, lightweight, customizable, and scalable materials.
Sep 29, 2025
Shailesh Chandra Appointed as MD & CEO of Tata Motors
Tata Motors appointed Shailesh Chandra as its Managing Director and CEO, effective October 1, 2025. His tenure will span three years, ending on September 30, 2028. Chandra will continue to serve as MD of Tata Passenger Electric Mobility Ltd. (TPEM), signaling the group's strong focus on its fast-growing electric vehicle business.
This transition came at a time when Tata Motors is undergoing a significant corporate demerger, aiming to create two distinct listed entities — one for commercial vehicles and another for passenger and electric vehicles, including Jaguar Land Rover (JLR).
Shailesh Chandra, who joined Tata Motors in 2016, has played a pivotal role in steering its electric mobility strategy.
Under his leadership, Tata's electric vehicle lineup gained significant market traction, with TPEM emerging as a segment leader.
His elevation to MD & CEO of Tata Motors reflects the company's confidence in his vision to integrate passenger vehicles and EVs into a unified growth narrative.
Wheels India Signs Technical Agreement with South Korean Firm for Hydraulics Cylinder Business
Wheels India, in September 2025, signed a significant technical agreement with SHPAC, a leading hydraulics cylinder manufacturer in South Korea whereby there will be a technology transfer in manufacturing. Wheels India identified hydraulic cylinders as one of the strategic growth areas and this pact is expected to drive its growth further in this segment.
SHPAC is a leading manufacturer of hydraulic cylinders in South Korea with a successful track record over the last few decades in this business exporting their products worldwide. Our technical technology transfer agreement with them is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry and we expect this to give a fillip to our drive to grow this business over the next few years.
Shirish Chandra Murmu Appointed as RBI Deputy Governor
The government appointed Shirish Chandra Murmu as a deputy governor of the Reserve Bank of India, according to a government notice.
Murmu's appointment will take effect from October 9 for a period of three years.
Sep 28, 2025
Indian Travellers Can Now Use UPI Payments Across Qatar
NPCI International Payments Ltd (NIPL), in September 2025, in partnership with Qatar National Bank (QNB), introduced QR code-based Unified Payments Interface (UPI) acceptance at point-of-sale terminals across Qatar for merchants acquired by QNB, powered by NETSTARS' payment solution.
The initiative allows Indian travellers to make UPI payments seamlessly at major tourist attractions and Qatar Duty Free outlets, the first merchant to go live on UPI, the National Payments Corporation of India (NPCI) said.
Indians are the second-largest group of international visitors to Qatar. With this partnership, they can conduct real-time transactions nationwide, reducing the need to carry cash and eliminating currency exchange hassles.
FSSAI Launches Licensing Framework for Manufacturing of Ayurveda Aahara on FoSCoS Portal
The Food Safety and Standards Authority of India (FSSAI), under the Ministry of Health and Family Welfare, launched a dedicated licensing and registration window for Ayurveda Aahara products on its Food Safety Compliance System (FoSCoS) portal. This significant step will enable manufacturers across India to seamlessly apply for licenses to produce and market traditional Ayurvedic foods.
The new 'Kind of Business' (KoB) framework for Ayurveda Aahara aims to formalise and streamline the sector, aligning traditional recipes—as documented in authoritative Ayurveda texts—with contemporary food safety and quality standards. This move is designed to boost the food and Ayurveda industries by creating a regulated pathway for these products to reach the market.
FM Nirmala Sitharaman Launches Goods and Services Appellate Tribunal
Finance Minister Nirmala Sitharaman, in September 2025, launched the Goods and Services Appellate Tribunal (GSTAT) in New Delhi. Addressing the gathering, Sitharaman said that she is confident that this forum will become a true symbol of justice for taxpayers, a pillar of trust for businesses, and a catalyst for India's continued economic growth. MoS for Finance, Pankaj Choudhary, Revenue Secretary Arvind Shrivastava and GSTAT president Justice (Retd.) Sanjaya Kumar Mishra were also present on the occasion.
Finance Minister Nirmala Sitharaman Launches 'Zen Life' Mobile Banking App
The Finance Minister emphasised that while technology is essential to accelerate economic growth, banks must also contribute with an innovative approach. She was speaking at a special function held in Pune, in September 2025, to mark the 91st Foundation Day of Bank of Maharashtra.
At the event, the Finance Minister inaugurated the new Corporate Office of the Bank at Baner and also launched the 'Zen Life' mobile banking application through video conferencing.
Referring to Prime Minister Narendra Modi's concept of "Nagrik Devo Bhava", the Finance Minister underlined the need to ensure that taxation and banking schemes are designed to be customer-centric.
Sep 27, 2025
UAE-India Business Council Enters into Strategic MoUs to Deepen Bilateral Trade
The UAE-India Business Council entered into strategic agreements to deepen industry engagements and amplify trade and investments between India and the UAE.
As part of the three agreements, UIBC and the UAE-India CEPA Council (UICC), committed to closer institutional collaboration, ensuring greater coherence in advancing objectives of the UAE-India CEPA, and deepening the UAE-India economic partnership.
UIBC and Services Export Promotion Council (SEPC) entered into a pact for deepening cooperation across priority services sectors, including logistics, healthcare, IT/ITES, education, tourism, and engineering, while promoting B2B and B2G engagements and addressing market access challenges.
Anand Piramal Named Chairman of Piramal Finance
Anand Piramal appointed as the Chairman of Piramal Finance, stepping into the role after the exit of his father, Ajay Piramal, following the recent merger of Piramal Enterprises. This leadership transition marks a significant milestone for the Piramal Group's non-banking financial arm, now headed by Anand Piramal. The change was ratified during the first board meeting post-merger, which was approved by the National Company Law Tribunal (NCLT) on September 10.
This transition represents a generational shift in leadership and a strategic reshaping of Piramal Finance amid evolving market dynamics. Anand Piramal's elevation aligns with the group's broader vision of digital-first financial services and innovation-driven growth in the NBFC sector.
Botanical Survey of India Gets a New Director, the First Mycologist to Head the Institute
The Botanical Survey of India (BSI) has a new director. Kanad Das is the first mycologist to head the premier research institute under the Ministry of Environment Forest and Climate Change (MoEFCC).
Das, who took charge as the 13th director of BSI, is an expert on the taxonomy of fungi. His scientific achievements include the discovery of two new genera and 165 new species of wild mushrooms in India.
Sudhanshu Vats Named as New Chairman of ASCI
Sudhanshu Vats, Managing Director, Pidilite Industries Limited, named as new chairman of the Advertising Standards Council of India (ASCI) at its 39th annual general meeting (AGM) in September 2025.
With ASCI, India's self-regulatory body for advertising, completing 40 years in October, the appointment came in a milestone year.
Government Imposes Import Curbs on Plain Silver Jewellery till March 2026
The government, in September 2025, imposed import restrictions on plain silver jewellery till March 31 next year, according to a notification.
The move is aimed at curbing misuse of free trade agreements (FTAs) and address large-scale imports of silver in the guise of finished jewellery.
Import policy has been amended from free to restricted with immediate effect till March 31, 2026," the Directorate General of Foreign Trade (DGFT) said in a notification.
Goods under the restriction category need a licence from the government.
The imports circumventing the provisions of FTA were adversely affecting domestic manufacturers and posing a challenge to employment in the jewellery sector, an official said.
Sep 26, 2025
Cochin Shipyard Moves Towards Atmanirbhar Bharat ; Signs MoU with HD Korea for Long-Term Shipbuil...
Cochin Shipyard Limited (CSL) moves towards the Atmanirbhar Bharat and signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding.
The MoU was exchanged during the landmark event "Samudra se Samriddhi – Transforming India's Maritime Sector", inaugurated by the Hon'ble Prime Minister Shri Narendra Modi in September 2025, at Bhavnagar, Gujarat.
US President Donald Trump Signs Executive Order Approving TikTok Deal with Majority US Ownership
President Donald Trump signed an executive order approving a deal that could keep TikTok alive in the U.S, easing national security concerns and paving the way for American ownership of the popular app. TikTok's Chinese parent company will retain only a minority stake, while U.S. investors are set to hold about 80 per cent under a new joint venture.
The platform, with 170 million U.S. users, including 15 million Trump followers, has been under pressure since a 2024 law required its parent company to sell or face a ban. Trump has credited the app with helping boost his re-election campaign.
Governance of the new venture will lean heavily American, with its Chinese parent company excluded from key security decisions.
India, Australia Signs Organic Products Mutual Recognition Arrangement
India and Australia, in September 2025, signed a mutual recognition agreement to facilitate the shipment of organic products between the two countries. The pact, which was part of the trade deal, will help in the shipment of unprocessed plant products, excluding seaweed, aquatic plants, and greenhouse crops, processed food and wine.
Commerce secretary Sunil Barthwal said that with organic produce commanding 30-40% higher prices, farmers benefit from improved livelihoods. "Organic products must not be so-called organic but certified organic, with every stakeholder in the chain taking pride in maintaining that integrity," he said. Last year, India's organic exports to Australia were estimated at $9 million with Australian officials highlighting opportunities in cereals, tea, spices, beverages and wine.
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