National Affairs

NBA Notifies CMLRE & ARI as National Repositories under Biological Diversity Act, 2002

The National Biodiversity Authority (NBA), in consultation with the Ministry of Environment, Forest and Climate Change (MoEFCC), notified two institutions as national repositories under Section 39 of the Biological Diversity (BD) Act, 2002.

Following the inclusion of these two institutions, the national network of repositories has now increased to 20.

Amul Becomes 1st Indian FMCG Company to Hit Rs 1 Trillion Turnover in FY26

Anand Milk Union Limited (AMUL) became the first company in India's Fast-Moving Consumer Goods (FMCG) sector to achieve an annual turnover of over Rs 1 lakh crore (Rs 1 trillion) in FY 2025-26, registering around 11% growth over the previous year.

• Financial Performance: The federation reported a total group turnover of Rs 1,00,000 crore, becoming the largest FMCG organisation in India. Its marketing arm, Gujarat Cooperative Milk Marketing Federation (GCMMF), reported revenue of Rs 73,450 crore in FY26, up from Rs 65,911 crore in FY25 (11.4% growth).

Saraswat Cooperative Bank Milestone:

• Saraswat Cooperative Bank, India's largest Urban Cooperative Bank (UCB) headquartered in Mumbai, Maharashtra, crossed the Rs 1 lakh crore total business mark, strengthening its position in the cooperative banking sector. The management expressed confidence in doubling this business within the next 7 to 8 years.

Bhopal RPO Becomes First in India to Launch Braille & Sign Language Services

The Regional Passport Office (RPO), Bhopal, Madhya Pradesh introduced Braille script and sign language services, becoming the first in India to offer these accessibility features for differently-abled applicants.

The initiative was inaugurated by B.S. Mubarak, Joint Secretary (Passport Seva Programme) and Chief Passport Officer, in the presence of Regional Passport Officer Shitanshu Chaurasiya.

• Braille Script Services: Braille booklets explaining the complete passport application process, along with essential do's and don'ts, have been introduced for visually impaired applicants. Braille signage plates have been installed within the office for easier navigation.
• Sign Language Videos: Instructional videos in Sign Language (SL) guide speech and hearing-impaired applicants on application types, document requirements, and the process, with QR code access placed near queues and counters for easy reference.

DCIL and Colombo Dockyard Sign MoU for Strategic Alliance in Shipbuilding & Repair

Dredging Corporation of India Limited (DCIL) signed a Memorandum of Understanding (MoU) with Sri Lanka's Colombo Dockyard PLC (CDPLC) to establish a strategic alliance in the areas of shipbuilding, ship repair, and maritime services.

The MoU was signed by Captain S. Divakar, MD and CEO of DCIL, and Thimira S. Godakumbura, MD and CEO of CDPLC.

• Objective: To deliver high-quality, cost-effective, and timely solutions in vessel maintenance, repair, retrofitting, and new shipbuilding projects.
• Collaboration: Combines DCIL's extensive dredging fleet and operational expertise with CDPLC's world-class shipbuilding and repair infrastructure.
• Impact: Expected to bring high-value drydocking and ship repair business from India to Colombo Dockyard, strengthening maritime industry cooperation between India and Sri Lanka.
• About DCIL: Incorporated as a public sector company in March 1976 under the Companies Act, 1956, headquartered in Visakhapatnam, Andhra Pradesh.

Banking & Finance

IRDAI Constitutes Sub-Panel of IAC to Review Private Health Insurance Sector

The Insurance Regulatory and Development Authority of India (IRDAI) constituted a sub-committee of the Insurance Advisory Committee (IAC) to review the current scenario of private health insurance in India.

• Review Scope: Coverage, penetration, claims experience, product design, grievance redressal, and consumer experience.
• Advisory Role: Will recommend regulatory, policy, and operational measures to promote innovation, wider coverage, better risk pooling, and improved financial protection through health insurance.
• Digital Transformation: The sub-committee will also examine the role of healthcare provider networks, hospital tariffs, fraud control, and digital systems in improving value to policyholders and reducing administrative inefficiencies.

SEBI Grants Extension for IPO Approval Validity, MPS Norms to September 30, 2026

Market regulator Securities and Exchange Board of India (SEBI) announced a two-pronged, one-time relief measure for companies, easing both Initial Public Offering (IPO) validity timelines and Minimum Public Shareholding (MPS) compliance.

• IPO Validity: Companies whose IPO approvals (SEBI Observations Letters) expiring between April 1 and September 30, 2026 will now remain valid till September 30, 2026.
• MPS Compliance: One-time relaxation for listed companies to meet the 25% MPS compliance norms whose deadlines fall between April 1 and September 30, 2026.
• Reason: SEBI issued these relaxations to help companies deal with the current uncertain market conditions caused by geopolitical tensions, especially the West Asia conflict.

BoB Launches AI-enabled 'bob SAMVAD' to Eliminate Language Barriers

Bank of Baroda (BoB) launched 'bob SAMVAD', an industry-first AI-powered, in-house developed multilingual conversational platform designed to eliminate language barriers at bank branches.

The platform was formally unveiled by M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance (MoF), in Mumbai, Maharashtra.

• Multilingual Support: Supports real-time, low-latency, two-way communication across 22 Indian languages.
• Technology: Uses advanced AI-powered speech recognition, Natural Language Processing (NLP), and real-time translation technologies. Also supports text-to-speech functionality with an optional audio mode.
• Implementation: For the initial phase, will be rolled out across 250 branches in 5 states: Tamil Nadu, Karnataka, Telangana, Andhra Pradesh, and Maharashtra.

Canara HSBC Life Insurance Launches Market-Linked Savings 'Plan Promise4Wealth'

Canara HSBC Life Insurance Company Limited launched 'Promise4Wealth', a next-generation Unit Linked Insurance Plan (ULIP) designed to offer long-term wealth creation along with life insurance protection.

• Zero-Premium Allocation: Offers zero premium allocation charge to policyholders.
• Fund Options: Access to various funds, including a passive fund linked to the BSE 500 Enhanced Value 50 Index.

DBS Bank India Launches DBS Aspire, Relationship-led Banking for Emerging Affluent

DBS Bank India launched its new DBS Aspire Banking proposition and signature Aspire debit card, designed exclusively for India's fast-growing, well-travelled, emerging affluent segment.

• Eligible Beneficiaries: Customers with a relationship value of Rs 10 lakh or at least monthly savings account average balance of Rs 2 lakh.
• Target Clients: Designed to cater to the digital and financial needs of High-Net-Worth Individuals (HNWIs) and Ultra-HNWIs.
• Key Benefits:
• Zero forex mark-up on international spends on the DBS Aspire debit card
• 0% charge on all banking transactions and services
• Interest rate of 5% per annum on savings account balances between Rs 2 lakh and Rs 50 lakh

PNB Signs MoU with GeM to Boost Financial Access for Sellers

State-owned Punjab National Bank (PNB) signed a Memorandum of Understanding (MoU) with the Government e-Marketplace (GeM) to strengthen financial access for sellers on the platform.

The agreement was signed by Ajit B. Chavan, Additional CEO, GeM; and Atish Kumar Rout, GM – Digital Business Transformation Division (DBTD), PNB, in New Delhi.

• MSME Support: Empowers Micro, Small and Medium Enterprises (MSMEs) and small businesses by improving access to timely and affordable formal credit, while ensuring transparency through digital, paperless loan processing.
• Integration: Onboarding of PNB as a lending partner on the GeM Sahay Portal enables sellers to access collateral-free short-term loans against GeM purchase orders.
• Ease of Doing Business: Integrating procurement with financing enhances EoDB, expands vendor participation, and supports the Digital India vision.

Economy & Business

Fintech Lender KreditBee Enters Unicorn Club with USD 280 Million Pre-IPO Funding

KreditBee, a leading digital lending firm in India, entered the unicorn club by raising USD 280 million in a Series E funding round, with a post-money valuation of USD 1.5 billion, ahead of a planned Initial Public Offering (IPO).

With this, KreditBee becomes the 3rd unicorn of 2026, after Juspay (January 2026) and Neysa (February 2026).

• Key Investors: Motilal Oswal Alternates, Hornbill Capital, and Mitsubishi UFJ Financial Group (MUFG)-backed Dragon Fund.
• Funds Utilization: Plans to diversify its lending portfolio, bolster its technology stack, and scale AI capital to enhance risk assessment and offer new personalized financial products.

Appointments & Resignations

Vietnam Parliament Re-elects To Lam as President

On 7 April 2026, To Lam, General Secretary of the Communist Party of Vietnam (CPV), was unanimously re-elected as the President of Vietnam by the National Assembly of Vietnam (NA) during its 16th session, securing a new five-year term (2026–2031).

• Election: To Lam was elected with 100% support (495/495 deputies present) in the 500-seat assembly.
• Shift: This development marks a shift in Vietnam's power structure, as the roles of Party General Secretary and State President have traditionally been held by separate individuals.
• PM Appointment: During the same session, Le Minh Hung, former Governor of the State Bank of Vietnam (SBV), was elected as Prime Minister of Vietnam.

Acquisitions & Mergers

CCI Approves Advent's Proposal to Acquire 14.286% Stake in ABHFL

The Competition Commission of India (CCI) approved the proposal of Advent International Corporation to acquire a 14.286% stake in Aditya Birla Housing Finance Limited (ABHFL), a wholly-owned subsidiary of Aditya Birla Capital Limited (ABCL), through a preferential issue.

This approval follows the decision of the boards of ABCL and ABHFL in February 2026 to approve a capital infusion of Rs 2,750 crore into ABHFL.

• Acquisition Process: Indriya Limited will acquire equity shares amounting to 14.286% of the post-issue paid-up equity share capital of ABHFL, on a fully diluted basis.
• Valuation: Upon completion, ABHFL will be valued at Rs 19,250 crore.
• About ABHFL: One of India's fastest-growing Housing Finance Companies (HFCs), engaged in providing home loans, loans against property, construction finance loans, among others.

Obituary

Former Union Minister and Veteran Congress Leader Mohsina Kidwai Passed Away

On April 8, 2026, veteran Indian National Congress (INC) leader and former Union Minister Mohsina Kidwai passed away at the age of 94 in Noida, Uttar Pradesh.

State News

Telangana Govt Declares 'Cancer' as Notifiable Disease

The Government of Telangana declared cancer as a notifiable disease across the state to strengthen monitoring of the rising burden of Non-Communicable Diseases (NCDs).

• Objective: To establish a centralised cancer registry, enabling accurate estimation of incidence and prevalence, supporting evidence-based policymaking, and improving resource allocation for treatment, palliative, and rehabilitative care.
• Nodal Institute: The Mehdi Nawaz Jung Institute of Oncology and Regional Cancer Centre, Hyderabad has been designated as the Centre of Excellence (CoE) for data validation and coordination with the National Cancer Registry.
• Implementation: A dedicated state portal will facilitate reporting through digital login credentials, while ensuring strict confidentiality of patient data.
• Initiative: AstraZeneca signed a MoU with the Government of Telangana to implement AI-enabled lung cancer screening.

Important Days at a Glance