On Friday, Prime Minister Narendra Modi met with victims of the Air India jet tragedy at the Ahmedabad Civil Hospital.One day following the fatal plane disaster that killed 241 people, including 12 crew members, he came to the city to assess the situation.

From the airport, the prime minister made his way directly to the crash site and toured the area that had been damaged. He then proceeded to the hospital, where he conversed with the attending physicians and the injured.

During the hospital visit, he was joined by Union Minister C.R. Paatil, Gujarat Chief Minister Bhupendra Patel, and Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu.

On Thursday afternoon, just after taking off from Ahmedabad airport, a Boeing 787-8 Dreamliner operated by Air India carrying 242 passengers crashed.241 people were killed when the plane, which was flying as Flight AI-171 from Ahmedabad to London Gatwick, crashed into a residential complex close to BJ Medical College.

The flight consisted of two pilots, ten crew members, and 230 passengers.According to officials, Ramesh Vishwashkumar, the passenger in seat No. 11A, was the only one who survived the collision.

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Officials said the individual, who was sat in 11A and survived the collision, is a British national of Indian descent and is receiving medical attention at a nearby hospital.

On his X handle on Thursday, the Prime Minister, who had been Gujarat’s chief minister for 12 years, had shared his sorrow. “We are shocked and grieved by the tragedy in Ahmedabad. It is beyond words how heartbreaking it is. I’m thinking of everyone who is impacted by this awful time. have communicated with ministers and officials who are trying to help people impacted.

One of the deadliest aviation catastrophes in Indian history, according to certain accounts, was the accident. A thorough investigation into the disaster has been started by the government.

The families of each individual killed in the sad crash of Air India Flight 171 in Ahmedabad would receive Rs 1 crore from the firm, according to a Thursday announcement made by Tata Group Chairman N. Chandrasekaran.

He added that the Tata Group would guarantee the affected people’s complete care and support, as well as pay for their medical bills.

“No words can adequately express the grief we feel at this moment,” Chandrasekaran said in a statement. We are praying for the injured and sending our condolences to the families who have lost a dear one.

As part of its support efforts, he noted, the Tata Group would also assist in the construction of a new hostel at B.J. Medical College. “We are unwavering in our support of the impacted families and communities during this unfathomable time,” he said.

The tragedy has caused “immense grief to countless families,” according to Tata Trusts Chairman Noel Tata, who expressed his sorrow. “Our thoughts are with all those who have lost their loved ones today, as this heartbreaking incident has caused immense grief to countless families,” he stated.

“We extend our heartfelt condolences to the bereaved families and stand in solidarity with them during this unimaginable time.”

Air India Flight 171, which was traveling from Ahmedabad to London, was involved in the tragedy. The Directorate General of Civil Aviation (DGCA) said that ten members of the cabin crew were among the 242 passengers on board.

According to the DGCA, the plane departed Runway 23 at 1:39 p.m. The Air Traffic Control (ATC) received a MAYDAY distress signal shortly thereafter, but no other contact was received.

Thick black smoke was visible as the plane crashed close outside the airport’s perimeter. Captain Sumeet Sabharwal was in charge of the trip, and First Officer Clive Kundar was serving as co-pilot.

Known for its cutting-edge technology and fuel efficiency, the Boeing 787-8 Dreamliner has apparently experienced a number of technical and safety problems over the years all over the world.

One of these planes, Air India flight AI 171, crashed on Thursday not long after it took off. Ten crew members were among the 242 passengers on board the aircraft, which was en route to London’s Gatwick Airport.

According to authorities, Vijay Rupani, a senior BJP leader and former Gujarat Chief Minister, perished in Thursday’s Air India flight disaster in Ahmedabad. He was sixty-eight. Rupani was on board Air India aircraft AI171, which crashed soon after departure from Ahmedabad on its way to London’s Gatwick Airport.

According to reports, he was occupying seat 2D in business class. Rupani was wed to philanthropist and social worker Anjali Rupani. The pair has a son. He was well-known for his gentle demeanor, orderly way of living, and solid spiritual foundation. He frequently visited temples and took part in religious and cultural events all throughout Gujarat.

Although the Boeing 787-8 Dreamliner is regarded as a modern and effective aircraft and is frequently utilized for long-haul international flights, there have been safety issues with it in the past. Following instances of lithium-ion battery fires in 2013, including one on a parked Japan Airlines aircraft in Boston and another in midair in Japan, the whole world’s Dreamliners fleet was grounded.The US Federal Aviation Administration (FAA) halted Dreamliner operations until Boeing revised the battery system as a result of these accidents.

After Boeing engineer Sam Salehpour, a whistleblower, allegedly informed the US Senate about structural issues with the Dreamliner’s fuselage in 2024, the business was once more under investigation. He asserted that early wear and potential structural failure could result from tiny gaps and poor installation. An inquiry was started by the FAA and is still going on.

The Dreamliner has been connected to a number of technical issues, even though it was advertised as one of the safest and most sophisticated airplanes in the world.

Fifty people were hurt when a Boeing 787-9 flown by LATAM Airlines suffered an abrupt altitude drop in midair in March of this year. Later, it was determined that a failure in the cockpit seat was the cause.

Pilots have also reported problems such electrical system malfunctions, fuel leaks, engine freezing, and generator failures over the years.

Air India and the Directorate General of Civil Aviation (DGCA) are still investigating the reason of the Ahmedabad jet disaster. Rescue and relief efforts will have the full support of the central government. It was not yet known how many people had died.

With effect from July 1, Tatkal tickets purchased via IRCTC’s official website and mobile app will only be accessible to individuals who have successfully authenticated with Aadhaar, the Ministry of Railways declared on Wednesday.
Furthermore, starting on July 15, online Tatkal reservations would require Aadhaar-based OTP authentication.

OTP authentication will be delivered to the mobile number the user provided at the time of booking for Tatkal tickets purchased through authorized agents and at computerized Passenger Reservation System (PRS) counters. Additionally, this clause will take effect on July 15.

Authorized Indian Railways ticketing agencies will not be allowed to purchase opening-day Tatkal tickets during the first half hour of the booking window in order to avoid large reservations during the crucial opening period.

This restriction is in effect from 10 to 10.30 a.m. for AC sessions and from 11 to 11.30 a.m. for non-AC classes.

According to the official statement, these modifications are being made to increase Tatkal booking transparency and guarantee that the program’s advantages are received by actual end users.

The IRCTC and CRIS (Centre for Railway Information Services) have been directed to update the system as needed and notify the Zonal Railways and relevant departments.

In order to prevent any inconvenience, the Ministry of Railways has asked all passengers to be aware of these changes and to make sure that their IRCTC user profiles are linked to their Aadhaar accounts.

The actions are being taken to protect the interests of actual passengers and to provide equitable and transparent access to Tatkal tickets. According to the announcement, the modifications will improve user authentication and lessen scheme abuse.

In an effort to combat the abuse of Tatkal reservations, Indian Railways found and deactivated 2.5 crore phony IDs and reported an additional 20 lakh for revalidation. It was discovered that some of these accounts were hoarding tickets and selling them at exorbitant prices using disposable email addresses.

AI-driven technologies are being utilized by IRCTC to track and identify bot activity, which was being used by touts to purchase tickets in bulk and then demand exorbitant prices from actual travelers.

“Speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading,” the Finance Ministry declared on Wednesday.

“Our residents experience unnecessary doubt, dread, and mistrust as a result of such irrational and sensation-generating rumors. According to the Finance Ministry, the government is still totally committed to advancing digital payments through UPI.

Following multiple online rumors that the government intended to apply MDR on expensive UPI transactions, the formal refutation was released.

Banks charge merchants MDR in exchange for real-time payment processing. In the past, retailers who accepted card payments had to pay an MDR fee equal to 1% of the whole transaction value. However, in an effort to encourage digital payments nationwide, the government eliminated MDR fees in 2020.

According to figures issued by NPCI on Sunday, UPI handled 18.68 billion transactions in May and UPI transactions in May totaled Rs 25.14 lakh crore, up from Rs 23.95 lakh crore in April.

Compared to the 14.03 billion transactions that were reported in the same month last year, the May data likewise show a 33% increase in transaction volume year over year. In May, the average daily transaction volume was 602 million, and the average daily transaction amount was Rs 81,106 crore.

With its share of the overall transaction volume increasing from 79.7% in the previous fiscal year to 83.7% in 2024–2025, the Unified Payments Interface (UPI) solidified its position as the dominant player in India’s digital payments system.

According to the RBI’s annual report, UPI enabled 185.8 billion transactions in 2024–2025—a 41% increase from the previous year. UPI transactions increased from Rs 200 lakh crore in FY24 to Rs 261 lakh crore in value terms.

“The success of UPI placed India in a leadership position with a share of 48.5 per cent in global real-time payments by volume,” the Reserve Bank of India stated.

The total amount of digital payments made in the nation, including those made through card networks, payment systems, and prepaid payment instruments (PPIs), increased by 35% from 164.4 billion in FY24 to 221.9 billion in FY25. The total value of digital payments increased 17.97% to Rs 2,862 lakh crore.

Nirmala Sitharaman, the minister of finance, asked departments and regulators to speed up the process of returning unclaimed amounts in the financial sector, such as bank deposits, dividends, shares, post office accounts, insurance, and pension funds, to their rightful owners.

The Finance Minister stated during the 29th meeting of the Financial Stability and Development Council (FSDC) that in order to guarantee the prompt and smooth return of these assets to their legitimate owners, special district-level camps must be organized.

“Banks, pension agencies, insurance companies, the RBI, SEBI, the MCA, the PFRDA, and the IRDA, among others, will coordinate this push. The IEPFA is in charge of managing unclaimed shares and dividends, the IRDAI is in charge of unclaimed insurance and pension money, and the PFRDA is in charge of unclaimed bank deposits,” she stated.

In order to guarantee that citizens have a smooth experience with KYC procedures throughout the banking sector, the Finance Minister also urged the Council to adopt proactive measures.

She advocated for the establishment of uniform KYC standards, as well as the streamlining and digitization of the KYC procedure, including digital onboarding for NRIs, including PIOs and OCIs, in the Indian stocks market.

The FSDC discussed macrofinancial stability challenges and India’s readiness to address them. The FSDC examined enhancing the cyber resilience framework of the Indian financial sector through a cybersecurity strategy tailored to the financial sector in light of sectoral readiness, cybersecurity regulations, and the recommendations of the Financial Sector Assessment Programme (FSAP) 2024–25.

The meeting also covered issues related to developing a plan for carrying out the previous decisions and the budget announcements.

These included analyzing patterns in funding flows as part of a plan to raise the investment ratio and putting in place a suitable framework for regulators to assess and improve the responsiveness of regulations and subsidiary directions.

In addition, the FSDC discussed the new developments in the macro-financial environment both at home and abroad and emphasized the importance of being watchful. The Council acknowledged the necessity of taking proactive measures to reduce any threats to financial stability while implementing sufficient protections for the resilience of the financial system. For the financial sector’s overall growth, the participants agreed to improve inter-regulatory coordination.

The RBI Governor-chaired FSDC Sub-Committee’s activities and members’ actions regarding the FSDC’s outstanding previous judgments were also noted by the FSDC.

SEBI chief Tuhin Kant Pandey, RBI Governor Sanjay Malhotra, Minister of State for Finance Pankaj Choudhary, Finance Secretary and Secretary, Department of Economic Affairs Ajay Seth, Secretary, Department of Financial Services Nagaraju Maddirala, and other senior Finance Ministry and IRDAI officials attended the FSDC meeting.

According to a survey released on Wednesday, India is among the top 10 international cross-border investment destinations for land and development sites. Strong foundations, a maturing real estate market, and rising interest in land and development assets are all contributing factors to the nation’s rise as a major Asia Pacific investment destination.

According to the Colliers research, favorable legislative initiatives and ongoing infrastructure development are strengthening the investment climate and bolstering India’s appeal to both domestic and foreign investors.

India maintained its prominent position at number seven in the top ten global cross-border capital destinations for land and development sites, while Japan and Australia were in the top ten for standing assets.

In Q1 2025, institutional investments in Indian real estate totaled a robust $1.3 billion, up 31% year over year, demonstrating the industry’s tenacity and investor confidence. Due to a maturing market and a variety of capital deployment options, international and regional capital is still flowing steadily into India, especially in the form of land and development assets, according to Colliers India CEO Badal Yagnik.

Real estate investment in India will be further strengthened by rising interest in developing markets like data centers and life sciences as well as more engagement from international investors in the residential segment.

“Yet, there will still be attractive prospects in the commercial and industrial & warehousing sectors due to solid demand fundamentals, a strong supply pipeline, and growing channels like development platforms and alternative investment structures,” Yagnik continued.

Nearly 40% of all institutional inflows in Q1 2025 came from foreign investors, underscoring their long-standing interest in Indian real estate.

Residential investments are growing in popularity due to growing demand, high returns, and a favorable domestic outlook, even though office assets continue to be a top priority for international investors.

The market is maturing, and foreign money is increasingly matching India’s changing real estate market, as indicated by this diversification. The benchmark loan rate has dropped to 5.5%, the lowest level in three years, as a result of successive repo rate reduction, according to Vimal Nadar, National Director & Head of Research at Colliers India.

In the short to medium term, this is probably going to help increase capital deployment across real estate asset classes, especially the residential segment, and further improve investor sentiment, he added.

The National Highways Authority of India (NHAI) unveiled its first-ever “Asset Monetization Strategy for the Road Sector” on Monday in an effort to unlock the value of functioning National Highway assets.

The goal of the action is to increase public-private partnerships (PPPs) in the construction of infrastructure in India.

The plan marks a significant turn toward sustainable, market-driven infrastructure funding and is in line with the government’s goal under the Assets Monetization Plan-2025–30.

The Ministry of Road Transport and Highways claims that the plan offers a well-organized framework that offers a solid blueprint for capital mobilization through securitization models, infrastructure investment trusts (InvITs), and toll-operate-transfers (ToT).

Through the National Monetization Pipeline, these tools have assisted NHAI in raising about Rs 1.4 lakh crore for more than 6,100 kilometers of national highways.

Value naximization of government road assets, process transparency and information sharing pertinent to investors, and market growth through expanding the investor base and encouraging stakeholder participation are the three main pillars upon which the approach is built.

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According to NHAI Chairman Santosh Kumar Yadav, “NHAI’s unique approach to asset monetization not only ensures financial sustainability but also opens opportunities for the private sector, leverages advanced technologies, and enhances the quality and longevity of our road assets.”

If this plan is implemented successfully, NHAI will have a consistent flow of funding, which will lessen our dependency on conventional funding sources, Yadav continued.

NHAI has been using a variety of monetization tools with success. The country’s National Highway framework was developed in part because of the NHAI’s asset monetization efforts, which are essential to releasing the value of the road network.

In order to maximize the advantages of asset monetization, this article presents a strategic framework. In order to provide transparency and build investor confidence, it highlights the necessity of a systematic approach to asset identification and valuation, according to N.R.V.V.M.K. Rajendra Kumar, Member Finance, NHAI.

Apple unveiled a stunning new software design on Monday that enhances the expressiveness and pleasure of apps and system interactions while making them instantly recognizable.

It is made of a novel substance known as liquid glass. In addition to reflecting and refracting its surroundings, this transparent material dynamically changes to assist emphasize content and add a new level of vibrancy to controls, navigation, app icons, widgets, and other elements.

To create even more unity while preserving the distinctive features that set each platform apart, the new design is now available on iOS 26, iPadOS 26, macOS Tahoe 26, watchOS 26, and tvOS 261 for the first time.

Alan Dye, Apple’s vice president of Human Interface Design, stated, “At Apple, we’ve always believed in the deep integration of hardware and software that makes interacting with technology intuitive, beautiful, and delightful.”

“In the end, it makes even the most basic of interactions more enjoyable and magical, and it lays the foundation for new experiences in the future,” Dye continued.

The new design leverages Apple’s significant advancements in hardware, silicon, and graphics capabilities, drawing inspiration from the depth and dimensionality of visionOS.

With the new and updated controls and Liquid Glass materials, developers can redesign their programs to make every user interaction even more pleasurable and intuitive.

Liquid Glass employs real-time rendering and uses specular highlights to dynamically respond to movement. According to the business, this makes using the iPhone, iPad, Mac, Apple Watch, and Apple TV even more enjoyable by creating a vivid experience.

“App navigation, toolbars, and controls have all been updated. Originally designed for rectangular screens, they now precisely align with the rounded edges of contemporary hardware and app windows, creating a more harmonious combination of content, software, and hardware, according to Apple.

The similar method has been used to redesign sidebars and tab bars. When Apple users scroll in iOS 26, the tab bars reduce to highlight the content while maintaining instant access to navigation. Tab bars extend fluidly when users scroll back up. Updated sidebars in iPadOS and macOS enhance the immersive experience of programs like Apple TV.

Following the Reserve Bank of India’s (RBI) recent move to lower the repo rate by 50 basis points, a number of large banks, notably Punjab National Bank (PNB), Bank of India, and UCO Bank, have drastically reduced their lending rates.

The rate reduction is a component of the RBI’s plan to boost economic expansion by lowering borrowing costs for both individuals and companies.

One of the first banks to pass the benefit on was Punjab National Bank, which reduced its repo-linked lending rate from 8.85% to 8.35%.

However, the bank maintained its marginal cost of lending rate (MCLR) and base rate at the same levels.

A similar cut was made by Bank of India, which lowered its repo-based lending rate from 8.85% to 8.35%, as per its stock exchange filing.

In contrast, UCO Bank reduced its MCLR by 10 basis points for all loan terms. The modifications, which take effect on June 10, will marginally lower the cost of a number of loan kinds, including personal and house loans.

The overnight, one-month, and three-month MCLRs were all lowered by the bank from 8.25 percent to 8.15 percent, 8.45 percent to 8.35 percent, and 8.6 percent to 8.5 percent, respectively.

The MCLRs for six months and a year were reduced to 8.8% and 9%, respectively.

Adding to the list of banks lowering borrowing costs, Bank of Baroda also announced a 50 basis point drop in its repo-linked lending rates for a few loan tenures.

These rate reductions follow the RBI’s announcement to lower the repo rate, a crucial policy rate at which the RBI loans to commercial banks, by the Monetary Policy Committee, which is chaired by Governor Sanjay Malhotra.

By making loans more affordable, the rate drop aims to stimulate the economy by promoting investment and expenditure.

Along with lowering the repo rate, the RBI also lowered the Cash Reserve Ratio (CRR) from 4% to 3%, a 100 basis point decrease.

It is anticipated that this cut, which will be implemented in four stages, will provide the banking system with an additional Rs 2.5 lakh crore in liquidity.

Reducing the CRR, which is the percentage of bank deposits that must be kept with the RBI, enables banks to extend more credit.