Russian President Vladimir Putin‘s trip to India today is anticipated to result in a “very, very significant meeting” with Prime Minister Narendra Modi, which could enhance stability and play a role in shaping the emerging global landscape, stated Dr. Ranjeet Mehta, CEO & Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI) on Thursday.

Dr. Mehta remarked that this forthcoming dialogue holds considerable importance for both countries and might provide a fresh impetus to India–Russia economic collaboration.

He underscored that the meeting has the capacity to boost bilateral trade and investment while reinforcing the enduring strategic alliance between the two nations.

“The discourse between Prime Minister Narendra Modi and President Putin will fortify stability and the new global framework,” he told.

“There are three primary factors that highlight the significance of this meeting. Firstly, the investment prospects for both industries. Secondly, India and Russia possess a robust and well-established strategic partnership,” Mehta elaborated.

He noted that this visit presents a chance to broaden cooperation beyond conventional sectors.

As per him, industries in both nations could discover new pathways for collaboration while looking to diversify their economic interactions.

“This meeting provides a platform to expand into a variety of other areas. It also allows for the alignment of economic priorities between these two countries and opens up avenues for new opportunities, particularly in the domains of defense, hydrocarbons, energy security, and pharmaceuticals,” Mehta elaborated.

Looking forward, Dr. Mehta mentioned that Russia might consider increasing its imports from India, especially in the pharmaceutical sector.

He highlighted that India, being one of the world’s foremost generic drug producers and a vital center for pharmaceuticals, has significant potential to enhance its footprint in the Russian market.

“India and Russia have a relationship founded not only on stability but also on deep historical shared interests,” he remarked.

“Enhanced trade connections and deeper energy collaboration will foster growth for both economies in a rapidly shifting geopolitical landscape,” Mehta concluded.

India is in an advantageous position to address digital inequality and foster an inclusive transition in Artificial Intelligence (AI) globally, according to a new report from the United Nations Development Programme (UNDP) released on Tuesday.

While AI is progressing at an unprecedented rate, discrepancies in digital ecosystems among different nations—alongside limited access to connectivity, skills, and infrastructure—are increasing these gaps.

The report, which focuses on the Asia Pacific region, cautioned that without intentional measures, AI risks exacerbating disparities in income, opportunity, and governance, potentially reversing years of advancements in reducing global inequality.

Nevertheless, it emphasized that India’s digital public infrastructure, its growing AI research community, and its vast technology workforce create a robust foundation for leveraging AI for the greater public good.

“India’s digital advantages provide it with a head start in creating an AI future that is beneficial for all. AI is already enhancing public health, bolstering climate resilience, and improving service delivery. The critical challenge lies in ensuring these benefits permeate every community,” stated Dr. Angela Lusigi, Resident Representative, UNDP India.

“The decisions we make today will influence whether AI reduces disparities or exacerbates them. India has the opportunity to lead by ensuring its advantages benefit rural populations, women, and youth, rather than just those who are already well-connected,” she noted.

The report pointed to India as a model for how AI can be safely and inclusively scaled.

India is already utilizing AI to enhance significant public systems. Aadhaar, the largest biometric identification system globally, catering to over 1.3 billion individuals, stands as a prime example.

It has been increasingly integrated with AI to minimize fraud, enhance targeting, and guarantee that benefits reach the appropriate households.

AI’s integration into the health sector is also becoming more pronounced, particularly in interpreting chest X-rays for tuberculosis screening, as well as in efforts to address climate change by predicting floods and other weather-related conditions.

In India’s agriculture sector, AI is being employed to assist authorities in pinpointing districts vulnerable to climate change and to promote climate-smart agricultural practices, along with supporting biodiversity through AI-powered species identification and immediate alerts.

The lasting effects of AI will hinge on the decisions made today—particularly regarding investments in digital governance, inclusion, and protective measures, as noted in the report.

It urged “India to persist in championing people-centric AI, prioritizing transparency, equal access, and the involvement of marginalized groups in the development of AI systems.”

“With appropriate policies, India can guide the region away from entering a new phase of inequality and toward an inclusive AI-driven future that supports the Sustainable Development Goals,” it concluded

The government is currently not considering any proposals regarding the merger or disinvestment of public sector banks (PSBs), as stated in Parliament on Tuesday.

In response to a query in the Rajya Sabha about the government’s intentions to disinvest four PSBs or merge them with larger banks by 2026, Minister of State for Finance, Pankaj Chaudhary, remarked, “At this moment, no plans for the merger or disinvestment of Public Sector Banks (PSBs) are being contemplated by the Government.”

There have been reports suggesting that the government is formulating a plan for consolidating PSBs, which might reduce the number of state-owned banks from 12 to merely four by FY27. This proposal is said to aim at enhancing balance sheets, increasing operational efficiency, and establishing competitive global banking institutions.

Chaudhary also informed the house that the gross non-performing assets (NPAs) ratio in public sector banks (PSBs) has decreased from 9.27 percent in March 2016 to 2.58 percent in March 2025, and further to 2.51 percent in June 2025.

In the same vein, the slippage ratio, which indicates the fresh addition of NPAs as a percentage of standard advances, has fallen from 7.5 percent in March 2016 to 1.0 percent in March 2025, and subsequently to 0.9 percent in June 2025, he added.

Moreover, the recovery of written-off loans is a continuous process, and banks are actively engaging in their recovery efforts against borrowers through various available recovery mechanisms.

The minister also mentioned that the RBI has instructed lenders to provide the list of wilful defaulters to all Credit Information Companies (CICs) monthly, and these CICs are obligated to showcase the information on their websites.

The records of wilful defaulters with dues of Rs 25 lakh and above are publicly accessible at the URLs of credit information companies accredited and regulated by the RBI.

In order to protect citizens from purchasing counterfeit products, the Centre announced on Monday that it has requested mobile phone manufacturers and importers to ensure that the ‘Sanchar Saathi‘ mobile application is pre-installed on all new mobile phones made or imported for use in India.

This will facilitate the easy reporting of suspected telecom resource misuse and enhance the effectiveness of the ‘Sanchar Saathi’ program.

According to the guidelines released on November 28, mobile manufacturers and importers are required to make the pre-installed Sanchar Saathi application easily visible and accessible to users during the initial setup or first use of the device, ensuring that its functionalities remain enabled and unrestricted.

Moreover, for devices that have already been produced and are currently available for sale in India, manufacturers and importers of mobile phones should strive to push the application through software updates.

The companies need to accomplish this implementation within 90 days and submit a progress report within 120 days.

The Department of Telecommunications (DoT) is carrying out the Sanchar Saathi initiative to combat the misuse of telecom resources in cyber fraud and to enhance telecom cybersecurity.

The department has established the Sanchar Saathi portal and app, which allows citizens to verify the authenticity of a mobile phone using the IMEI number, as well as other services like reporting fraudulent communications, lost or stolen devices, verifying mobile connections registered in their name, and accessing contact information for banks and financial institutions.

In a different statement, the DoT indicated that it has noted some app-based communication services using Indian mobile numbers for customer identification or service delivery enable users to utilize their offerings without having the corresponding Subscriber Identity Module (SIM) active in the device where the app-based services operate.

This functionality is being exploited for cyber fraud, particularly by those operating from outside the country.

The matter of SIM binding in messaging applications and its improper use has been brought up by various government bodies and agencies, along with an inter-ministerial group.

On this topic, the DoT has held several discussions with leading app-based communication services regarding feasibility and significance. This includes platforms such as WhatsApp, Telegram, Snapchat, Arattai, Sharechat, Josh, Jiochat, and Signal.

“In light of the severity of the issue, the DoT issued Directions to major App-Based Communication Services on November 28 under the amended Telecom Cyber Security (TCS) Rules, 2024 to prevent the misuse of telecommunication identifiers and ensure the integrity and security of the telecom ecosystem,” it stated.

“The Department of Telecommunications (DoT) has communicated its directives on November 28 in this context,” the DoT noted in a statement.

India overcame a challenging situation and secured a 17-run win against South Africa in a tightly contested match, taking a 1-0 lead in the three-match ODI series at the JSCA International Stadium Complex in Ranchi.

The match showcased a fierce competition between the batting lineups of both teams, providing several valuable lessons.

India set an impressive total in their first innings, bolstered by a remarkable century from Virat Kohli and important half-centuries from Rohit Sharma and K.L. Rahul.

After being invited to bat, India lost Yashasvi Jaiswal early due to Nandre Burger’s bowling, but Rohit and Kohli quickly took charge.

The seasoned duo constructed a fluent partnership of 136 runs, relieving the pressure following the initial setback. Rohit scored a brisk 57 off 51 deliveries and surpassed Shahid Afridi’s long-standing record for the most sixes in ODIs before Marco Jansen dismissed him lbw.

Rahul lent solid support, scoring a well-calibrated 60, and the duo added 76 crucial runs together. After Kohli was dismissed for 135, Rahul and Ravindra Jadeja propelled India towards a strong finish with a partnership of 65 runs.

However, a late collapse, including wickets to Jansen and Corbin Bosch, limited India to 349/8, still a challenging target for the South Africans.

As South Africa chased down the daunting target of 350 runs, they were quickly unsettled as India’s bowlers came out aggressively. Harshit Rana, bowling the second over, instantly made an impact on his very first legitimate ball.

After starting with a wide, the pacer found his rhythm immediately, sending a sharp, good-length delivery that jagged back into Ryan Rickelton. The South African opener nonchalantly pushed defensively, only to have his stumps shattered, giving India the breakthrough they sought.

The pressure escalated further. In the fifth over, Arshdeep Singh bolstered India’s supremacy with a beautifully angled delivery directed at skipper Aiden Markram. Fishing for a ball that moved away from him, Markram only managed a thick edge, resulting in Rahul taking another slick catch.

The captain was dismissed for seven runs off 15 balls, leaving South Africa three wickets down and in serious trouble within the first few overs.

With their top order decimated and the required run rate climbing, South Africa’s chase faltered significantly as India’s bowlers maintained firm control during the initial Power-play. Strategic bowling from Prasidh Krishna as he concluded the 10th over gave the hosts an early advantage in the match.

Matthew Breetzke and Tony de Zorzi steadied the innings admirably after the Indian bowlers dismantled the Protea top order, sharing a partnership of 66 runs for the fourth wicket, but the latter’s innings ended when Kuldeep Yadav trapped him lbw.

Dewald Brevis displayed composure and took on the bowlers effectively as he teamed up with Breetzke to accumulate runs. Although the Indian bowlers faced challenges from South Africa’s middle-order batsmen, they managed to break partnerships at crucial moments, with the stand between Brivis and Breetzke lasting 53 runs.

Jansen’s innings, however, caught the Men in Blue off guard and rattled them as the tall all-rounder played an explosive knock to bring his team closer to victory. Breetzke played a supporting role while Jansen took on the opposition bowlers with confidence to help reduce the target.

Just then, in the 34th over, a change in bowling and the decision to bring Kuldeep Yadav back into the attack proved beneficial for India as the spinner claimed the wickets of the in-form Jansen and Breetzke in just three deliveries, providing the Men in Blue a moment of relief.

Prenelan Subrayen and Bosch offered some relief to their teammates in the dugout, but Kuldeep clinched his fourth wicket of the day by sending the former packing in the final over of his spell.

Bosch and Burger maximized their efforts, but Arshdeep’s breakthrough late in the 46th over to dismiss the latter kept the match finely balanced.

With India needing just one more wicket for victory, Bosch kept everyone on their toes and gradually reached his half-century as the visitors aimed to chase down the target. It all came down to the final over, with the Proteas requiring 19 runs off the last six balls.

However, the visitors’ resistance ultimately ended when a mis-hit from Bosch resulted in Rohit taking a brilliant catch, securing India’s victory.

With Prasidh Krishna delivering the final blow, India secured a narrow 17-run win, thereby taking a 1-0 lead in the series.

Virat Kohli mentioned that he does not believe in excessive preparation before a series. He stated that visualizing the game has been beneficial in getting him ready for the first ODI after an extended break.

“I’ve never been one to focus on extensive preparation. Most of my cricket is mental. I train hard physically; as long as I keep my fitness levels up, visualizing my batting and fielding keeps me prepared. I wanted to acclimate to the conditions in Ranchi. I visualize the game frequently. When I picture myself being intense and focused, I know I can relax and perform out there. Having played around 300 ODIs and so much cricket, being in touch with the game and having the opportunity to hit balls in practice is key; an hour or two in the nets can confirm you’re in good form. If you’re struggling, you tend to spend more time in the nets. Ultimately, it’s about being mentally prepared and enjoying the game,” Kohli expressed.

Brief scores:

India 349/8 in 50 overs (Virat Kohli 135, K.L. Rahul 60; Ottneil Baartman 2-60, Nandre Burger 2-65) beat

South Africa 332 all out in 49.2 overs (Matthew Breetzke 72, Marco Jansen 70, Corbin Bosch 67, Tony de Zorzi 39. Dewald Brevis 37; Kuldeep Yadav 4-68, Harshit Rana 3-65, Arshdeep Singh 2-64) by 17 runs

The RBI hopes of a minor rate reduction of 25 basis points (bps), which were building up until a few days ago, seem to have diminished as detailed evaluations of the strong Q2 growth results and the changing strategy suggest that a pause in the December policy meeting is more likely, as indicated by an SBI Research report released on Sunday.

A noticeable pattern emerging from the monetary actions of Central Banks globally is that monetary policy has entered a phase of stasis, varying across different regions.

While rate cuts still dominate the decisions being made, the overall frequency of such decisions is significantly reduced.

Nonetheless, equity markets around the world are leaning towards irrational behavior, whereas the NIFTY 500 appears to be more accurately represented, the report further highlights.

“It is crucial to persist with proactive measures outside of policy adjustments. It’s vital to shift market perceptions as the G-Sec market is becoming increasingly misaligned, illustrated by the widening gap between the overnight repo rate and the 10-year G-Sec yield, which has expanded from 40-50 bps to 100-110 bps, despite a total rate cut of 100 bps and CRR reductions disrupting the transmission of monetary policy,” said the report in anticipation of the Monetary Policy Committee meeting in the first week of December.

Promoting broad-based growth without any rate reductions might require the introduction of a “neutral regime,” equivalent to “calibrated easing,” which would focus on managing yields and liquidity concurrently, the report indicates.

The RBI needs to engage with the market, clearly differentiating between temporary and permanent liquidity injections or withdrawals when the market conditions or sentiments justify such measures.

This distinction will facilitate the coexistence of short-term liquidity strategies alongside long-term measures without disrupting the fundamental framework.

Additionally, it will pave the way for a more efficient market characterized by reduced noise and greater rationality, the SBI report notes.

It suggests that the RBI must ensure “calibrated easing” within a “neutral stance” through liquidity initiatives to create a stabilizing effect on yields.

This would involve: implementing durable liquidity operations such as open market operations (OMO) or other methods aligned with the Revised Liquidity Management Framework. Distributing the OMO Calendar across the yield curve for liquidity control and rate transmission would be beneficial.

To ensure comprehensive transmission of the 100 bps rate cut, OMO purchase auctions may be arranged to maintain durable liquidity at 2-2.5 percent of NDTL.

To normalize the disparity between Government Securities (G-Secs) and State Development Loans (SDLs), which has widened, SDLs could be incorporated into the Durable Liquidity operations, the report suggests.

To enhance market sentiment and stabilize long-term yields, the RBI might contemplate a liquidity-neutral Operation Twist involving G-Secs and SDLs to lessen fluctuations and restore steadiness in the yield curve, according to the SBI report.