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SEBI Launches RPT Portal to Enhance Corporate Transparency and Governance

The Securities and Exchange Board of India (SEBI) has launched a Related Party Transaction (RPT) portal to strengthen corporate governance and increase transparency in boardroom dealings. At the launch event, SEBI Whole Time Member Ashwani Bhatia likened the initiative to sunlight exposing hidden dealings, emphasizing its role in ensuring fair corporate transactions. RPTs, while capable of creating synergies, often face scrutiny due to unfair pricing and potential conflicts of interest. The portal will enable mutual funds and investors to track such transactions and demand better governance from companies. SEBI Chairperson Madhabi Puri Buch reaffirmed the regulator’s strong focus on RPTs, calling them a core governance concern. SEBI’s disclosure-based framework mandates that listed companies provide complete transparency in financial dealings to prevent unfair advantages. Looking ahead, SEBI plans to integrate supply chain data into the portal for a more comprehensive oversight of corporate transactions. The RPT portal is expected to boost investor confidence, reinforce corporate accountability, and ensure fair play in India’s financial markets. Source: CNBC

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Macron Calls for Inclusive Governance in Syria as New Leadership Seeks Global Support

French President Emmanuel Macron has urged Syria’s new leadership to ensure governance that is representative and respectful of all communities, emphasizing the need for stability and inclusivity in the war-torn nation. Speaking at an international conference on Syria’s transition, Macron addressed the new authorities led by interim leader Ahmed al-Sharaa, stating that the responsibility they bear is immense. The event was attended by Syria’s Foreign Minister Asaad al-Shibani along with global stakeholders, including representatives from the United States, Germany, Britain, the European Union, and the United Nations. Syria’s New Leadership Seeks Legitimacy Following the fall of Bashar al-Assad’s regime in December after a swift offensive by Islamist-led rebels, Syria’s interim government has worked to reassure the international community of its break with the past. The new administration has been lobbying the West to ease long-standing sanctions against Assad’s regime, arguing that economic relief is essential for rebuilding the country after nearly 14 years of civil war. Macron emphasized that the new government’s commitment to respecting all communities would be a key factor in ensuring long-term stability and enabling the return of millions of displaced Syrians. The Fight Against IS: A Priority While addressing the political transition, Macron also underscored the importance of continuing the fight against the Islamic State (IS), calling it an absolute priority for Syria’s new leadership. Despite the defeat of IS’s so-called caliphate in 2019 by Kurdish-led Syrian fighters backed by the US-led coalition, some IS cells remain active in Syria’s desert regions. Macron urged Damascus to actively participate in counterterrorism efforts. Western Nations Move to Ease Sanctions In a significant shift, France’s Foreign Minister Jean-Noel Barrot confirmed that the European Union is working towards a rapid lifting of sanctions on Syria, starting with key economic sectors like energy. Britain also announced a relaxation of restrictions on Syria’s energy, transport, and finance sectors, while the United States has already eased punitive measures, allowing fuel and electricity donations for six months. Challenges Ahead: Women’s Rights, Kurdish Inclusion, and Ceasefire Western governments have raised concerns about the direction of Syria’s new leadership, particularly regarding: Religious freedom Women’s rights The status of the Kurdish minority German Foreign Minister Annalena Baerbock emphasized the importance of women’s representation in Syria’s future government, while also calling for all actors in Syria to be included in the political process. The conference also addressed the need for a global ceasefire, particularly in the north and northeast, where Turkish-backed factions continue to attack Kurdish-held areas. A New Era for Syria? With international support gradually shifting, Syria’s interim government is set to form a new administration next month. Foreign Minister Shibani assured the global community that it would represent all Syrians in their diversity. As Macron prepares to host Sharaa in Paris soon, the coming months will determine whether Syria’s new leadership can deliver on its promises and rebuild a unified, sovereign, and stable nation. Source: The New Arab

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PM Modi Advocates for Global AI Governance at Paris Summit

Paris, February 12: Prime Minister Narendra Modi called for collective global efforts to establish a governance framework for artificial intelligence (AI) during the Paris AI Action Summit, which he co-chaired with French President Emmanuel Macron. Modi emphasized that AI should be developed for good and for all, highlighting India’s expertise and commitment to responsible AI innovation. India, he said, is building its own large language model to reflect its linguistic and cultural diversity. He also underscored India’s public-private partnership model that makes AI resources accessible to startups and researchers at affordable costs. Addressing concerns about AI surpassing human intelligence, Modi stressed that governance must balance risk management with fostering innovation, particularly in the Global South, where access to AI infrastructure, talent, and data remains limited. He reiterated India’s role in shaping global AI governance, citing its G20 presidency consensus on responsible AI use. The Prime Minister highlighted AI’s transformative potential in healthcare, education, and agriculture while calling for open-source systems, bias-free datasets, cybersecurity measures, and solutions against deep fakes. He also pointed to India’s low-cost digital public infrastructure serving 1.4 billion people as a model for inclusive AI adoption. Modi reaffirmed India’s readiness to share its expertise and experience to ensure AI benefits humanity while maintaining transparency, trust, and security.

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BJP Secures Victory in 2025 Delhi Assembly Elections, AAP Falls to Second Place

The Bharatiya Janata Party (BJP) has emerged victorious in the 2025 Delhi Assembly elections, securing 48 out of 70 seats, while the Aam Aadmi Party (AAP) managed to win 22 constituencies. The Indian National Congress (INC), once a dominant force, failed to win a single seat, signaling a significant shift in the capital’s political landscape. Voting took place in a single phase on February 5, with a high voter turnout reflecting intense political engagement. The elections saw a fierce battle between BJP, AAP, and Congress, with BJP staging a strong comeback after years in opposition. AAP suffered a major setback, particularly with Chief Minister Arvind Kejriwal losing his seat in the New Delhi constituency to BJP’s Parvesh Verma. The BJP’s victory is expected to bring substantial changes in governance, with potential policy shifts in infrastructure, education, and public welfare. Meanwhile, AAP is set to play a crucial role as the opposition, holding the new government accountable. With the Congress completely absent from the assembly, the party faces an urgent need for introspection and strategy realignment. The newly elected government now faces the challenge of delivering on its promises while maintaining public trust. Source: Business Standard

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Gaza’s Governance Uncertain as Four Competing Models Take Shape

As a fragile cease-fire holds in Gaza, four competing models for the territory’s governance are emerging, with no clear direction yet established: Hamas Control – Despite suffering significant losses, Hamas still holds power over much of Gaza and seeks to maintain its authority. Israeli Military Presence – Right-wing Israeli leaders advocate for continued military control, possibly expanding their occupation if necessary. International Oversight – Foreign security contractors, invited by Israel, are already managing a key checkpoint in northern Gaza. Some officials suggest this could evolve into broader international stewardship, potentially involving Arab states. Palestinian Authority Administration – The Palestinian Authority (PA), which lost Gaza to Hamas in 2007, has begun staffing the Egypt-Gaza border alongside European security officials, hoping to extend its role across the entire territory. The future of Gaza’s governance will likely hinge on U.S. policy, with Donald Trump set to discuss the issue with Israeli Prime Minister Benjamin Netanyahu in Washington. Saudi Arabia could also play a decisive role if it agrees to normalize relations with Israel in exchange for a specific governance structure in Gaza. Source: Business Standard

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Onsurity Partners with Snowflake to Revolutionize Data Infrastructure

Bangalore-based Onsurity, a leading employee healthcare platform, has partnered with AI-driven data cloud platform Snowflake to enhance its data infrastructure. The collaboration aims to improve scalability, real-time data availability, and AI-driven innovation across Onsurity’s business verticals. By leveraging Snowflake’s advanced features, Onsurity can now process large data volumes efficiently, optimize costs, and refine its healthcare insurance services for SMEs and startups. The company, which serves over 8,000 businesses, plans to integrate AI and machine learning within Snowflake’s environment to personalize healthcare offerings and predict user trends. “Our teams now have faster access to insights, allowing us to tailor services based on real-time user behavior,” said Sarvendu Singh, CTO of Onsurity. He emphasized that Snowflake’s rapid deployment, security, and compliance features make it the ideal choice for scaling operations while maintaining cost efficiency. Onsurity utilizes Snowflake’s Change Data Capture (CDC) to extract incremental data changes, ensuring real-time insights without duplication. The partnership also addresses key challenges like data governance and role-based access control, enhancing security and operational efficiency. As India’s insurance sector continues to grow, Onsurity’s AI-driven transformation positions it at the forefront of the industry, setting a new benchmark for data-driven healthcare solutions. Source: Economic Times

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Budget 2025: No Income Tax Up to ₹12 Lakh, Major Relief for Middle Class

In a landmark announcement, Finance Minister Nirmala Sitharaman declared in her Budget 2025 speech that individuals earning up to ₹12 lakh annually will pay no income tax under the new tax regime. The move has been welcomed as a major relief for India’s middle class. The Budget also introduced key financial reforms, including raising the Foreign Direct Investment (FDI) limit in the insurance sector and modifying cess and surcharge structures. Additionally, the government plans to simplify the Tax Deduction at Source (TDS) regime to ease compliance burdens. Sitharaman announced that a new, streamlined Income Tax Bill will be introduced next week, designed to be more concise and user-friendly. Other tax reforms include raising the Tax Collected at Source (TCS) limit on remittances under the RBI’s Liberalised Remittance Scheme from ₹7 lakh to ₹10 lakh. Further, in a push towards domestic manufacturing, the Budget provides tax exemptions on 35 goods used in EV battery production and 28 goods for mobile phone battery manufacturing. New Income Tax Slabs (New Regime) ₹4 – 8 lakh: 5% ₹8 – 12 lakh: 10% ₹12 – 16 lakh: 15% ₹16 – 20 lakh: 20% ₹20 – 24 lakh: 25% Above ₹24 lakh: 30% The Budget 2025-26 focuses on tax reforms, investment liberalization, and industry-friendly policies, signaling the government’s intent to support economic growth and ease financial burdens on taxpayers. Source: Financial Express

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ICJ’s Advisory Opinion: A Turning Point for Global Climate Governance?

The International Court of Justice (ICJ) is set to issue an advisory opinion on states’ legal obligations concerning climate change, a decision expected to shape global climate governance despite its non-binding nature. Between December 2-13, 2024, the ICJ held public hearings to clarify existing international laws and obligations regarding climate action. While nations are not legally bound to comply, the ruling is likely to influence climate lawsuits and strengthen accountability measures against governments and corporations. Climate change, historically addressed through treaties like the UNFCCC, the Kyoto Protocol, and the Paris Agreement, has evolved into a multidimensional issue spanning economics, human rights, and global trade. The ICJ’s intervention could broaden climate governance by linking environmental policies with international trade, energy, and migration laws. However, critics argue that expanding the legal framework might create conflicts between climate laws and other international regulations, potentially slowing down global action. Nonetheless, the ICJ’s opinion could serve as a reference for future climate litigation, compelling nations to strengthen their commitments. With climate lawsuits on the rise worldwide, the court’s findings may set new precedents, redefining the role of international law in climate action. Source: Indian Express Photo Credit: Indian Express

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RBI Supersedes Aviom India Housing Finance Board Over Governance Concerns

The Reserve Bank of India (RBI) announced on Monday that it has superseded the board of Aviom India Housing Finance due to governance issues and defaults in fulfilling payment obligations. The central bank will initiate the resolution process for the housing finance company under the Insolvency and Bankruptcy rules. Ram Kumar, former Chief General Manager of Punjab National Bank, has been appointed as the administrator to oversee the resolution proceedings. Aviom India Housing Finance primarily caters to low-income households in semi-urban areas, offering loans to women borrowers who lack formal income documentation. The company’s focus on financially underserved segments has faced challenges in recent months, including liquidity constraints and delayed payments. In November 2024, CRISIL downgraded the company’s long-term rating on its bank facilities and non-convertible debentures, citing liquidity issues and expected delays in interest payments. The downgrade highlighted growing concerns about the company’s ability to meet its financial obligations. The RBI’s decision to supersede the board underscores its commitment to maintaining financial stability and addressing governance lapses in the financial sector. Source: Economic Times

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ITI Limited Wins ₹167 Crore E-Governance Contract in Maharashtra

State-owned telecom equipment manufacturer ITI Limited has secured a ₹167 crore e-governance contract from Maharashtra’s Rural Development Department. The project involves setting up and operating Aaple Sarkar Seva Kendra (ASSK) centers in Gram Panchayats across Chatrapathi Sambhaji Nagar, Nagpur, and Amaravati regions. The contract includes system maintenance for one year and deployment of technical manpower at the ASSK centers. The initiative aims to enhance digital citizen services in rural areas, fostering transparency, efficiency, and accessibility in e-governance. Rajesh Rai, Chairman and Managing Director of ITI Limited, emphasized the project’s significance in strengthening the Panchayati Raj System. “This initiative will empower rural citizens with better access to digital governance and help bridge the urban-rural divide in Maharashtra,” Rai stated. ITI Limited, India’s first public sector undertaking (PSU) post-independence, has diversified beyond its telecom equipment manufacturing legacy. The company now operates in sectors such as defense, railways, solar equipment, and IT services, while managing a state-of-the-art data center in Bengaluru that caters to government institutions and banks. The ASSK project represents a significant milestone in Maharashtra’s grassroots digital governance initiatives, further cementing ITI Limited’s position as a key player in the e-governance sector. On the financial front, ITI Limited’s shares were trading at ₹352, marking a 3.94% decline, down by ₹14.45, on the NSE at 1:33 PM today. This contract underlines Maharashtra’s commitment to modernizing governance and ITI Limited’s capabilities in driving technological advancements in rural India.

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