India surpasses China to top QS Asia University Rankings 2025
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RBI introduces 6 amendments to the KYC guidelines
The Reserve Bank of India (RBI) announced revisions to its Master Directions on Know Your Customer (KYC) on November 6, 2024, with the new provisions coming into effect immediately. KYC plays a vital role in preventing illicit activities such as money laundering and terrorist financing, while also ensuring the protection of both the organization and the customer.
Mangaluru water metro: India’s next big water transport system
The Karnataka Maritime Board has launched the Mangaluru Water Metro Project, set to connect communities along the Nethravathi and Gurupura rivers. This eco-friendly transit system will span 30 kilometers with 17 stations, making it India’s second-largest water metro after Kochi, and aims to improve local connectivity and support sustainable regional growth.
FACT OF THE DAY
Credit use doubled this festive season. Credit cards and BNPL options drove this growth for D2C brands on GoKwik's network. Prepaid payment methods also surged by 13%. Cash on delivery dipped by 8%. GoKwik enables brands to improve profits by reducing COD orders. The company houses over 10,000 brands and 120 million shoppers.
LEAD STORY
India leads Asia’s higher education rankings
India leads in the QS World University Rankings: Asia 2025, reflecting its expanding prominence in higher education and research. With 163 institutions ranked, India outpaces China for the second consecutive year.
Westfalia Fruit’s first Hass avocado shipment to India
Westfalia Fruit has successfully shipped its first batch of Hass avocados from South Africa to India, which marks an important step for both the company and the South African avocado industry. This shipment was possible due to a new trade agreement between South Africa and India, allowing Hass avocados to meet India’s rising demand.
HIGHLIGHT OF THE DAY
India’s petrochemical sector is poised to reach US$ 300 billion next year, with a projected potential of over US$ 1 trillion by 2040, according to Union Minister for Petroleum and Natural Gas Hardeep Singh Puri. The minister credited Prime Minister Narendra Modi’s leadership for driving India’s emergence as a global petrochemical powerhouse, sharing a video that outlines ongoing and planned developments in the sector.
Government approves ?10,700 Crore infusion for FCI
The Union Cabinet has sanctioned ?10,700 crore for the Food Corporation of India (FCI) to enhance its working capital, ease borrowing costs, and support its food security operations.
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