Category Archives: News

SBI Life Insurance registers New Business Premium of ₹8,908 crores for the period ended on 30th June, 2026

MUMBAI, India, July 28, 2026 /PRNewswire/ — SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of ₹8,908 crores for the period ended on 30^th June, 2026 vis-a-vis ₹7,268 crores for the period ended 30^th June, 2025. Regular premium has increased by 40% over the period ended on 30^th June, 2025.

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at ₹1,958 crores for the period ended 30^th June, 2026, marking a growth of 100%. Protection Individual new business premium registered a growth of 22% and stood at ₹202 crores for the period ended 30^th June, 2026. Individual New Business Premium stands at ₹5,613 crores with 14% growth over the period ended on 30^th June, 2025.

SBI Life’s profit after tax stands at ₹725 crores for the period ended 30^th June, 2026 with a growth of 22% over the period ended on 30^th June, 2025.

The company’s solvency ratio continues to remain robust at 1.96 as on 30^th June, 2026 as against the regulatory requirement of 1.50.

SBI Life’s AUM also continued to grow at 10% to ₹5,24,850 crores as on 30^th June, 2026 from ₹4,75,813 crores as on 30^th June, 2025, with the debt-equity mix of 60:40. 94% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 3,71,935 trained insurance professionals and wide presence with 1,241 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of sale persons (POS), insurance marketing firms, web aggregators and direct business.

Performance for the period ended June 30, 2026

• Private Market leadership in Individual New Business Premium and Individual Rated Premium with market share of 24.9% & 22.2% respectively.
• Annualized Premium Equivalent (APE) stands at ₹ 5,379 crores with growth of 36%
• Total New Business Sum Assured stands at ₹ 8,50,025 crores with 211% growth
• Improvement in 13M & 49M persistency by 61 bps & 68 bps respectively
• Value of New Business (VoNB) stands at ₹ 1,408 crores with growth of 29%
• VoNB Margin stands at 26.2%
• Indian Embedded value (IEV) stands at ₹ 85,293 crores with 15% growth
• Profit After Tax (PAT) stands at ₹ 725 crores with 22% growth
• Robust Solvency ratio of 1.96
• Assets under Management stands at ₹ 5,24,850 crores with 10% growth

Disclaimer

Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘expected to’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. SBI Life Insurance Company Limited undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

This release does not constitute an offer of securities.

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New Milestone for Mysuru as Viveka Smaraka Set for Inauguration

Mysuru, July 28: Mysuru is set to witness the inauguration of Viveka Smaraka on August 1, marking the addition of a new landmark dedicated to inspiring people through the values of knowledge, service, and cultural heritage.

Prime Minister Narendra Modi will inaugurate the memorial, which is expected to become a place of learning and reflection while showcasing India’s rich traditions and inspiring legacy.

The initiative aims to preserve and promote values associated with social service, spirituality, and nation-building, providing visitors with an opportunity to connect with India’s cultural roots.

Officials said the memorial will further enhance Mysuru’s identity as a major cultural destination and attract visitors interested in heritage and history.

The inauguration is expected to bring together dignitaries, officials, and citizens, highlighting the importance of preserving institutions that inspire future generations.

The Viveka Smaraka is set to become another significant addition to Mysuru’s heritage landscape, encouraging awareness, learning, and appreciation of India’s cultural values.

Chandigarh University Researchers Develop an Economical Device for Accurate Drug Absorption Studies; to Help in Reducing Cost of Medicines by 40%

Chandigarh University researchers get patent for an energy-efficient, economical device for accurate drug absorption studies

CHANDIGARH, India, July 28, 2026 /PRNewswire/ — A team of researchers at Chandigarh University has developed an innovative laboratory device that could significantly improve the way oral medicines are tested during development, enabling more accurate, reliable and cost-effective drug absorption studies that can ultimately support the development of safer and more effective medicines. By addressing several long-standing limitations in conventional drug absorption equipment, the innovation enables researchers to generate more dependable experimental data while reducing the likelihood of failed studies, repeated experiments and unnecessary research costs. The improved version of the apparatus also reduces the size and complexity of the conventional equipment, resulting in a 40 per cent reduction in operational costs and making a low-cost version of the device available for pharmaceutical research and routine laboratory use.

Recognizing the novelty and practical significance of the innovation, the Indian Patent Office has granted the Chandigarh University researchers a patent for their invention titled ‘Improved Oral Drug Absorption Study Cell’. The innovation, developed by Chandigarh University researchers, Prof. (Dr.) S.S. Sehgal and Prof. (Dr.) Manish Goswami (former professor at University Institute of Pharmaceutical Sciences), Chandigarh University, has been granted a patent by the Indian Patent Office for its novel design. The patented device introduces engineering improvements that overcome several limitations of the conventional drug absorption apparatus while remaining simple to manufacture, economical to operate and suitable for routine laboratory use.

The reliable drug absorption studies form the foundation of oral medicine development, helping scientists determine whether a medicine administered orally can efficiently cross the intestinal barrier and enter the bloodstream before it progresses to advanced stages of research. More accurate laboratory data allows researchers to optimise formulations much earlier in the development cycle, reducing uncertainty before medicines move to expensive pre-clinical and clinical evaluation while strengthening confidence in pharmaceutical research.

Sharing details and significance of the innovation, Prof. (Dr.) S.S. Sehgal said, “Drug absorption studies are among the most important stages in oral drug development because they help scientists understand how efficiently a medicine is likely to be absorbed before it progresses to advanced stages of research. The conventional drug absorption equipment offer very limited space, forcing researchers to fold the everted intestinal tissue inside the chamber. This places unnecessary stress on the tissue, affects its natural positioning and can result in variability into the drug experimental observations. In many cases, tissue damage or improper placement can even result in experimental failure that forces researchers to repeat the study and increase both development time and research costs.”

Prof. Sehgal added, “Instead of altering the testing methodology, we redesigned the apparatus to address the limitations of conventional systems. By introducing an extended side arm, our equipment allows the tissue to remain in a natural U-shaped position helping in proper drug absorption to occur under consistent conditions. Along with improved temperature uniformity, better mixing of the drug solution and greater operational stability, the redesigned apparatus helps generate more accurate and reproducible data that can improve the evaluation of oral drug formulations.”

Highlighting the broader impact of the invention, Prof. (Dr.) Manish Goswami said, “Scientific progress is often driven by improving the tools researchers use every day. Even relatively small improvements in laboratory equipment can have a significant impact on the quality of research data. By making drug absorption studies more reliable and easier to perform, this innovation can support pharmaceutical scientists in developing better oral formulations and ultimately contribute to medicines that offer greater therapeutic effectiveness for patients.”

Elaborating on the improvements, Dr. Manish Goswami said, “Our objective was to improve the reliability of the experiment through a simple yet effective engineering solution. One of the biggest advantages of this innovation is that it minimizes variations during sample collection, making drug absorption studies more reliable and consistent. The device features a compact design built using laboratory-grade materials such as borosilicate and Teflon-coated glass to ensure durability and precision. At the same time, its optimized architecture reduces the overall size of the apparatus, simplifies fabrication and handling, and lowers operational costs by 40 per cent, making it an economical solution for pharmaceutical research. These improvements create more consistent and reproducible experimental conditions, enabling researchers to generate higher-quality data without adding complexity to the procedure.”

The innovation is expected to benefit through its application in pharmaceutical industry, drug discovery and development sector, pharmaceutical R&D centres, Contract Research Organizations (CROs), Clinical Research Organizations (CROs), universities and pharmacy colleges, government research laboratories and regulatory testing laboratories where drug absorption studies are routinely carried out for formulation development, pre-clinical research and evaluation of oral medicines.

Apart from improving the experimental accuracy, the redesigned apparatus also reduces operational complexity by eliminating the need for extra heating arrangements. Its simplified design lowers energy requirements, improves laboratory efficiency and reduces overall operating costs, making it suitable for routine use across pharmaceutical laboratories, academic institutions and research organisations.

With oral medicines accounting for the majority of pharmaceutical formulations used worldwide, improvements in early-stage drug absorption studies can strengthen the entire drug development process. By enabling more reliable laboratory testing while reducing time, cost and experimental variability, Chandigarh University’s patented innovation has the potential to support faster formulation optimisation, improve pharmaceutical research and contribute to the development of safer, more effective oral medicines for patients across the globe.

About Chandigarh University

Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

Website address: https://www.cuchd.in/

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Flipster Secures VARA Full Operational Exchange License, Advancing Regulated Crypto Services in the UAE

DUBAI, UAE, July 28, 2026 /PRNewswire/ — Flipster, a global cryptocurrency trading platform, has secured a full operational Exchange license (License No. VL/26/07/002) from Dubai’s Virtual Assets Regulatory Authority (VARA) under Flipster FZE. This milestone enables Flipster to officially launch regulated virtual asset services in the region and marks a significant step in its global expansion strategy.

With this license, Flipster FZE is authorized to onboard customers in the UAE, with plans to gradually expand access to a broader global user base. Flipster offers access to real world asset perpetuals in supported jurisdictions, giving users trading exposure to both digital and traditional asset classes. The initial offering will focus on spot trading, forming the foundation of Flipster’s regulated product suite.

This approval marks Flipster’s transition from regulatory readiness and in-principle approval to full operational capability under VARA’s framework, one of the most comprehensive and globally recognized regulatory regimes for digital assets.

Operating under VARA’s framework allows Flipster to provide a more secure and transparent trading environment, supported by robust standards for custody, governance, and compliance. This reinforces the platform’s commitment to safeguarding users while providing reliable access to digital assets.

And it also reflects Flipster’s commitment to meeting the highest standards in global finance. Flipster believes regulation is essential to building long-term trust, and VARA sets a strong benchmark for balancing innovation with investor protection.

Flipster first announced its entry into the Middle East in May 2025 with the appointment of Benjamin Grolimund as General Manager of Flipster FZE. Securing the full operational license marks the next phase of this expansion, as the company moves from market entry to delivering regulated services in one of the world’s most advanced digital asset ecosystems.

About Flipster

Flipster is a leading cryptocurrency trading platform, founded in 2023. It is designed by traders, for traders. With deep liquidity, industry-leading leverage, and wide coverage across global markets, Flipster is built for every trading style and gives traders the flexibility to seize opportunities wherever they emerge. Flipster offers access to real world asset perpetuals in supported jurisdictions, giving users trading exposure to both digital and traditional asset classes from a single platform. Learn more at flipster.io or follow X.

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Indian Railways Sanctions INR 163 Crore Project to Modernise Nanded Division

New Delhi, July 28: Indian Railways has approved a ₹163 crore infrastructure project to upgrade the electric traction system in the Nanded division, marking a significant step towards improving rail operations and network efficiency.

The project will modernise the division’s electric traction infrastructure, helping enhance train movement, improve operational reliability, and strengthen the capacity of the railway network.

Railway officials said the upgrade is expected to support faster and more efficient passenger and freight services while improving energy efficiency and reducing maintenance requirements.

The investment is part of Indian Railways’ broader modernisation drive to build a safer, smarter, and more sustainable rail network across the country.

The project is also expected to improve regional connectivity, strengthen logistics, and support economic activity by enhancing the overall performance of the railway system.

The approval reflects the government’s continued focus on expanding world-class railway infrastructure to meet India’s growing transportation and freight requirements.

Rajkot Zoo Celebrates Arrival of Three Asiatic Lion Cubs, Boosting Conservation Efforts

Rajkot, July 28: A moment of joy for wildlife conservation has emerged at Rajkot Zoo in Gujarat, with the birth of three Asiatic lion cubs, taking the zoo’s lion population to 20.

The arrival of the cubs has brought excitement among zoo officials and visitors while highlighting the importance of conservation efforts aimed at protecting the endangered Asiatic lion species.

Zoo authorities said the newborn cubs are under close observation and receiving dedicated care to ensure their healthy growth and well-being.

The successful birth reflects the role of zoological parks and conservation programmes in supporting wildlife protection, creating awareness, and contributing to the preservation of threatened species.

Asiatic lions hold a special place in India’s natural heritage, with conservation initiatives playing a key role in safeguarding their future. The addition of the three cubs marks another encouraging step in efforts to protect and promote the species.

The new arrivals are expected to attract visitors while inspiring greater awareness about wildlife conservation and the need to preserve endangered animals.

Japan on High Alert After Major Earthquake Raises Tsunami Concerns

Tokyo, July 28: A strong 7.1 magnitude earthquake struck Japan’s Kyushu region, prompting authorities to issue a tsunami alert and urge coastal communities to remain cautious.

The earthquake was recorded in the Kumamoto area, with the Japan Meteorological Agency warning of possible sea level changes and advising residents in vulnerable coastal areas to move to safer locations.

Officials said precautionary measures have been activated to protect communities, while emergency teams are monitoring the situation and assessing any possible impact.

Residents have been advised to stay away from coastal zones until further updates are issued and to follow instructions from local authorities.

Japan, one of the world’s most earthquake-prone countries, has established strong disaster response systems to manage seismic events and protect lives during natural emergencies.

Authorities continue to monitor aftershocks and weather conditions while keeping communities informed about further developments.

From Startup to Space Success: Skyroot Showcases India’s New-Age Innovation

New Delhi, July 28: Prime Minister Narendra Modi met the founders of Skyroot Aerospace following the successful achievement of the Vikram-1 mission, recognising their contribution to India’s growing private space ecosystem.

PM @narendramodi meets @SkyrootA founders after Vikram-1 success, hails India’s growing private space ecosystemhttps://t.co/UMlS8m5DpI

via NaMo App pic.twitter.com/8eYyQMdO36

— PMO India (@PMOIndia) July 28, 2026

The Prime Minister praised the team’s efforts in advancing space technology and highlighted the important role of startups in shaping India’s future in the global space industry.

The success of Vikram-1 reflects the growing capabilities of Indian entrepreneurs and innovators in developing advanced space solutions. It also marks a significant step towards encouraging greater private participation in the country’s space programme.

The interaction highlighted how young companies are bringing fresh ideas, technology, and innovation to the sector, creating new opportunities in areas such as launch vehicles, satellite technology, and space-based services.

India’s private space sector has witnessed rapid growth in recent years, supported by policy reforms and increasing collaboration between government agencies and private enterprises.

The milestone achieved by Skyroot Aerospace underlines India’s ambition to build a strong, competitive, and innovation-driven space ecosystem with a greater presence in the global space economy.

IIM Udaipur Celebrates 15 Years of Excellence, Honours Legacy and Looks Ahead to a Global Future

UDAIPUR, India, July 28, 2026 /PRNewswire/ — The Indian Institute of Management Udaipur (IIM Udaipur) marked its 15th Foundation Day with a grand celebration on campus, bringing together distinguished academicians, industry leaders, alumni, faculty, staff, and students to commemorate the Institute’s remarkable journey of academic excellence, research leadership, and global recognition.

The celebration was graced by Prof. Somak Raychaudhury, Vice-Chancellor of Ashoka University, as the Guest of Honour and keynote speaker. Also present were Mr. Pranay Chulet, Founder & CEO of Quikr and Member of the Board of Governors, IIM Udaipur; Prof. Ashok Banerjee, Director, IIM Udaipur; Prof. Vijayta Doshi, Dean – Programs; and Prof. Anirban Adhikary, Dean – Faculty and Research.

Founded on July 27, 2011, IIM Udaipur has rapidly established itself as one of India’s leading management institutions. Today, it is the youngest Indian Institute of Management to receive AACSB accreditation and has consistently featured in the QS World University Rankings and the Financial Times Masters in Management Global Rankings for 7 consecutive years, reflecting its growing international reputation.

Welcoming the gathering, Prof. Vijayta Doshi highlighted the Institute’s commitment to delivering transformative management education while nurturing socially responsible and globally competent leaders. In his Foundation Day address, Prof. Ashok Banerjee reflected on the milestones achieved by the Institute and outlined its vision for the future, emphasising excellence in teaching, impactful research, international collaborations, digital innovation, and stronger engagement with industry and society.

Delivering the Board’s perspective, Mr. Pranay Chulet shared valuable insights on entrepreneurship, innovation, and the evolving business landscape. Encouraging students to embrace curiosity, resilience, and lifelong learning, he spoke about the importance of institutions like IIM Udaipur in shaping leaders capable of creating meaningful impact in an increasingly dynamic world.

A significant highlight of the celebration was the recognition of faculty and staff members who have completed ten years of dedicated service to the Institute. Prof. Arundhati Bhattacharyya, Dr. Arvind Sharma, and Mr. Maredla Uday Bhaskar were felicitated for their long-standing contributions to the Institute’s growth. The ceremony also featured the presentation of the Research Paper Publication Award to Mr. Pramod Kumar, recognising excellence in research and scholarly contribution.

Representing the alumni community, Mr. Kshitij Prabhu, Partner at Cura Capital and an elected member of the IIM Udaipur Alumni Council, addressed the gathering and reflected on the Institute’s growing global alumni network. He reaffirmed the Alumni Council’s commitment to strengthening alumni engagement and mentoring future generations of IIM Udaipur graduates.

Another highlight of the ceremony was the announcement of the Professor of the Year Award by the IIM Udaipur Alumni Council, which recognises excellence in teaching and a lasting impact on the student community. The award was presented to Prof. Rajesh Agrawal, who received the honour for the third consecutive year, reflecting the Institute’s alumni’s deep appreciation and continued admiration for his outstanding contribution to management education.

The keynote address by Prof. Somak Raychaudhury inspired the audience with thought-provoking insights on scientific inquiry, interdisciplinary learning, and the role of higher education in driving innovation and nation-building. Drawing from his distinguished career in astrophysics and academic leadership, he emphasised that institutions must foster curiosity, creativity, and collaboration to address the complex challenges of the future.

Shri Raghuvir Kothi Memorial Scholarship, instituted to support and encourage academic excellence among the children of IIM Udaipur staff members, was continued for the second consecutive year. This scholarship was awarded to Ms. Aanvi Sharma, daughter of Shri Sachin Sharma.

The ceremony concluded with a Vote of Thanks by Prof. Anirban Adhikary, bringing to a close a memorable celebration that honoured IIM Udaipur’s achievements while reaffirming its commitment to shaping responsible leaders, advancing impactful research, and contributing meaningfully to society.

As IIM Udaipur embarks on its sixteenth year, the Institute remains steadfast in its pursuit of excellence, innovation, and global impact, strengthening its position as one of India’s fastest-rising business schools and a hub for transformative management education.

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KuCoin Celebrates Nine Years of Brand and Industry Evolution as the Celestia Stage Transforms at Tomorrowland Belgium Weekend 2

PROVIDENCIALES, Turks and Caicos Islands, July 28, 2026 /PRNewswire/ — KuCoin concluded the second weekend of Tomorrowland Belgium 2026 by marking its ninth anniversary alongside its global partners and community, while celebrating the broader progress of the digital asset industry over the past nine years. The milestone formed part of a memorable weekend that also brought an entirely new lineup of artists to the Celestia Stage and revealed the next chapter of its evolved visual identity, with the butterfly-inspired structure emerging in KuCoin’s signature green. Together, these moments connected KuCoin’s anniversary narrative, Tomorrowland’s creative energy and Celestia’s vision of trust, discovery and transformation.

KuCoin’s ninth anniversary was celebrated through its broader “Beyond the Signal” campaign, which looks beyond short-term market movements toward the trust, innovation and infrastructure enabling the industry’s long-term development. During Weekend 2, KuCoin marked the milestone through the “On Cloud 9 Skybox Experience,” bringing partners and community representatives together to recognize nine years of shared growth and industry progress.

Throughout the weekend, the Celestia Stage offered festivalgoers an entirely new program of artists, including Mark Knight, Mr. Belt & Wezol, Belters Only, Bingo Players with Iceman, Dada Life, Sander van Doorn and Dannic b2b Dyro. From house and progressive sounds to high-energy electronic sets, the performances created a vibrant festival atmosphere, bringing audiences from around the world together through music, movement and shared celebration.

Following its debut during Weekend 1, Celestia returned with an evolved visual identity, transforming from a young butterfly with a transparent roof and subtle touches of KuCoin green as the color gradually spread across its translucent wings, forming vivid emerald patterns while preserving the stage’s light and open character. Shaped by the music, energy and connections shared across both weekends, this evolution symbolized growth, trust and possibility, while reflecting KuCoin’s nine-year journey and the digital asset industry’s broader transformation from an emerging, trading-focused technology into trusted infrastructure increasingly connected to finance, culture and everyday life.

The Celestia Stage brings together the perspectives of KuCoin and Tomorrowland: a belief in the power of imagination, technology and community to connect people across borders. Tomorrowland invites people to explore new worlds through music and creativity, while KuCoin is working to make the future of digital finance more accessible, trusted and human.

As Tomorrowland’s Official Exclusive Crypto Exchange and Crypto Payments Partner for Tomorrowland Winter and Tomorrowland Belgium 2026 – 2028, KuCoin will continue working with Tomorrowland to create meaningful real-world connections. The shared vision remains clear: lasting transformation is built through trust, brought to life through innovation and carried forward by global communities.

About KuCoin

Founded in 2017, KuCoin is a leading global crypto platform built on trust and security, serving over 45 million users across 200+ countries and regions. Known for its reliability and user-first approach, the platform combines advanced technology, deep liquidity, and strong security safeguards to deliver a seamless trading experience. KuCoin provides access to 1,500+ digital assets through a broad product suite and remains committed to building transparent, compliant, and user-centric digital asset infrastructure for the future of finance, backed by SOC 2 Type II, ISO/IEC 27001:2022, and ISO/IEC 27701:2019 Certifications. In recent years, we have built a strong global compliance foundation, marked by key milestones including AUSTRAC registration in Australia, a MiCA license in Europe, and regulatory progress in other markets.

Learn more at www.kucoin.com.

About Tomorrowland

Founded 20 years ago by Belgian brothers Manu and Michiel Beers, Tomorrowland remains a family-owned business driven by a creative and passionate team. Over the years, Tomorrowland has evolved into a global entertainment brand.

The WEAREONE.world group consists of several business units, including Festival & Events, Music, Experiences, Leisure, Products and Fiction. Today, more than 350 team members create magic from the company’s headquarters in Antwerp, Belgium, as well as local offices in Brazil, France, Ibiza and Thailand.

Known for bringing people together through music, creativity and storytelling, Tomorrowland has become one of the world’s most recognized and influential festival brands, inspiring millions through unforgettable experiences and a shared vision of connection.

Photo – https://mma.prnewswire.com/media/3008009/image1.jpg

Logo – https://mma.prnewswire.com/media/2785613/KuCoin_new_Logo.jpg

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