8, Jul 2026
India’s credit card boom: A decade of rapid growth reshapes the way consumers pay
New Delhi, July 8: India’s credit card industry has undergone a remarkable transformation over the past decade, with the number of credit cards issued nearly tripling as consumers increasingly shift towards digital and cashless payment options.
The surge reflects a major change in consumer behaviour, with credit cards becoming a preferred choice for payments across categories such as online shopping, travel, dining, retail purchases and everyday expenses. Growing digital adoption, expanding banking access and the rise of e-commerce have been key drivers behind this growth.
Banks and financial institutions have played a crucial role in expanding the credit ecosystem by introducing innovative products, customised offerings and technology-led services. Digital onboarding, instant approvals and personalised rewards have made credit cards more accessible and attractive to a wider customer base.
The growth of digital payments has also helped bring more consumers into the formal financial system, particularly as smartphones and internet connectivity continue to improve across the country. Credit cards are increasingly moving beyond being premium financial products and becoming part of mainstream consumer spending habits.
At the same time, lenders are placing greater emphasis on responsible lending, customer education and advanced risk management practices to ensure that the expansion of credit remains sustainable.
With rising consumer confidence, increasing digital transactions and a growing preference for convenient payment solutions, India’s credit card market is expected to continue its upward trajectory.
The decade-long growth story of credit cards highlights India’s broader transition towards a modern, technology-driven payments ecosystem, where digital transactions are becoming an integral part of everyday life.
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- By Neel Achary
8, Jul 2026
New Technology to Help Predict Landslide Risks in Himalayan Region
Mandi, July 8: Researchers at the Indian Institute of Technology Mandi (IIT Mandi) have developed an operational landslide early warning system to improve disaster preparedness in the Indian Himalayan region.
The newly developed system will help monitor landslide risks and provide timely alerts, allowing authorities and communities to take preventive action before major incidents occur.
The Himalayan region often faces landslide threats due to heavy rainfall, steep slopes and changing weather conditions. The new technology is expected to support better disaster management, protect lives and reduce damage to infrastructure.
The initiative reflects the growing role of science and technology in addressing natural disaster challenges. The system can help government agencies and local authorities make faster decisions during emergencies.
8, Jul 2026
Sensex Plunges 1,600 Points as Iran Ceasefire Uncertainty Hits Markets
Mumbai: Indian equity markets witnessed a sharp decline as the Sensex fell over 1,600 points after renewed geopolitical concerns emerged following US President Donald Trump’s statement that the Iran ceasefire had ended.
The sudden escalation in tensions triggered selling pressure across global markets, with investors turning cautious amid concerns over rising uncertainty in the Middle East and its potential impact on crude oil prices, inflation and economic growth.
The decline was broad-based, with key sectors witnessing heavy losses as market sentiment weakened. Banking, energy and other major stocks came under pressure as investors assessed the possible fallout of the geopolitical developments.
Analysts said market volatility is likely to remain elevated as investors closely track further developments in the region, global crude oil movements and upcoming economic indicators.
The fall highlights the sensitivity of financial markets to geopolitical risks, with investors remaining watchful for signs of stability and clarity in international affairs.
8, Jul 2026
Caterpillar celebrates India’s emerging engineering talent through Tech Challenge 2026
Chennai / Bangalore, July 8 : Caterpillar India today announced the winners of Tech Challenge 2026, its flagship engineering innovation program that brings together India’s brightest students to solve real-world industry challenges using advanced technologies.
The multi-month competition culminated in on-site grand finales held at Caterpillar facilities in Chennai, Tiruvallur and Bangalore, where shortlisted teams showcased working prototypes developed under the guidance of Caterpillar engineers.
Winners of Tech Challenge 2026
Across eight categories, teams from leading institutions were recognized as follows:
|
Category |
Winner |
Runner-up |
Special Mention |
|
Category 1 |
Coimbatore Institute of Technology |
Coimbatore Institute of Technology |
SSN College of Engineering |
|
Category 2 |
IIT Madras |
SASTRA University |
Amrita Vishwa Vidyapeetham |
|
Category 3 |
PSG Institute of Technology |
PSG Institute of Technology |
College of Engineering, Pune |
|
Category 4 |
IIT Madras |
Amrita Vishwa Vidyapeetham |
Coimbatore Institute of Technology |
|
Category 5 |
PES University, Bangalore |
PSG College of Technology |
SSN College of Engineering |
|
Category 6 |
Bannari Amman Institute of Technology |
Coimbatore Institute of Technology |
Saveetha Engineering College |
|
Category 7 |
SSN College of Engineering |
IIT Madras |
Bannari Amman Institute of Technology |
|
Category 8 |
IIT (ISM), Dhanbad |
PSG College of Technology |
College of Engineering, Pune |
Continuing the momentum from 2025
Tech Challenge 2026 builds on the strong foundation set by the 2025 edition, which attracted over 13,000 students from more than 600 engineering colleges across India. Last year’s challenge demonstrated how applied innovation – across AI, computer vision and intelligent systems – can translate classroom learning into industry-ready solutions.
With Tech Challenge 2026, Caterpillar raised the bar further by deepening technical rigor and focusing on end-to-end execution, from concept development to functional prototypes. Only the top teams from each domain advanced through multiple evaluation stages, underscoring the highly competitive nature of the program.
Driving advanced technology leadership
The Caterpillar Tech Challenge reflects the company’s strategic focus on being an advanced technology leader. Student teams worked on challenges aligned to Caterpillar’s core technology priorities, including AI-enabled systems, digital engineering, electronics, software and automation—mirroring how innovation is applied within Caterpillar’s global operations.
By combining real-world problem statements with hands-on mentoring, the program enables students to experience how advanced technologies are developed, tested and scaled in an industrial environment.
Commenting on the conclusion of Tech Challenge 2026, Bhuvan Anandakrishnan, India Country Manager and Vice President-Engineering, Earth Moving Division, Caterpillar said,
“The Tech Challenge is a powerful way for us to connect with young engineers and expose them to real-world technology applications in a business setting. By working on AI, digital and automation-led solutions, students gain practical experience and fresh thinking. This is how we build capability for the future.”
Beyond competition
More than a contest, the Tech Challenge continues to serve as a platform for learning, collaboration and early talent engagement. Participants benefit from direct interaction with Caterpillar engineers, exposure to industry-grade tools and the opportunity to see their ideas translated into working solutions.
As Caterpillar continues to invest in innovation and talent in India, initiatives like the Tech Challenge play a critical role in shaping the next generation of engineers who will help build a more productive, efficient and sustainable world.
8, Jul 2026
Assam Simplifies Rules for Small Businesses
Guwahati, July 8: The Assam Government has introduced measures to simplify approval procedures for small non-polluting units, aiming to promote entrepreneurship and improve the ease of doing business in the state.
Under the new initiative, eligible small businesses with low environmental impact will receive relief from certain approval requirements, helping reduce delays and make the process of starting operations smoother.
The move is expected to encourage more entrepreneurs, especially small business owners and local investors, to establish new ventures in Assam. By reducing regulatory hurdles, the government aims to create a more supportive environment for small industries and strengthen economic activity across the state.
The reform will also help businesses save time and resources by simplifying compliance procedures while ensuring that environmental protection standards continue to be maintained.
Officials said the initiative is part of Assam’s broader efforts to attract investment, support small enterprises and create more employment opportunities. The government expects the measure to contribute to sustainable industrial growth and strengthen the state’s business ecosystem.
8, Jul 2026
Toray Identifies Lead Compound with Ferroptosis- Inhibiting Activity and Initiates Biomarker Discovery with Kyushu University
Tokyo, Japan, July 8: Toray Industries, Inc. today announced the discovery of a novel lead compound that exhibits ferroptosis-inhibiting activity, marking an important step in its efforts to develop innovative therapies for ferroptosis-related diseases. Preclinical studies in animal models of kidney disease have demonstrated promising pharmacological activity, supporting further research and development.
Building on these findings, Toray has initiated a collaborative research program with Professor Kenichi Yamada and his research group at the Faculty of Pharmaceutical Sciences, Kyushu University. The collaboration aims to identify novel biomarkers capable of evaluating the biological effects of ferroptosis inhibition in renal disease models.
Ferroptosis is a regulated form of cell death driven by iron-dependent lipid peroxidation and has emerged as a key mechanism underlying kidney injury and a range of other diseases. However, the dynamic and complex molecular changes associated with ferroptosis have made it difficult to accurately assess disease progression and therapeutic response. Developing reliable biomarkers remains a critical challenge in advancing ferroptosis-targeted drug discovery.
The newly identified lead compound was discovered through Toray’s proprietary drug discovery platform and has demonstrated pharmacological activity in animal models of ischemia-reperfusion acute kidney injury, where ferroptosis is believed to play a significant pathogenic role.
Professor Yamada’s laboratory is internationally recognized for its research on lipid peroxidation and oxidized lipids. The group has developed advanced analytical technologies to detect and characterize oxidized lipid molecules while investigating their roles in disease mechanisms and biomarker discovery.
Under the collaboration, Toray’s lead compound will be evaluated in animal models of ischemia-reperfusion acute kidney injury to investigate molecular changes associated with lipid peroxidation. By integrating Toray’s drug discovery expertise with Kyushu University’s analytical capabilities, the partners aim to identify novel biomarkers that can accurately assess ferroptosis inhibition and support future therapeutic development.
As part of its early partnership strategy, Toray also plans to pursue collaborative research and out-licensing opportunities with biotechnology companies and pharmaceutical partners capable of advancing the program into clinical development.
Through these efforts, Toray seeks to accelerate the development of new therapeutic candidates targeting ferroptosis-related diseases and contribute to addressing significant unmet medical needs in renal disorders and other conditions associated with ferroptotic cell death.
8, Jul 2026
EPFO Completes CITES Database to Enhance Member Services
New Delhi, July 8: The Employees’ Provident Fund Organisation (EPFO) has completed the CITES project database, marking a significant step towards improving digital services and making it easier for members to access EPFO facilities.
The upgraded database is expected to streamline service delivery by enabling faster processing of member requests and improving access to key provident fund services. The initiative is part of EPFO’s ongoing efforts to modernise its digital infrastructure and enhance the overall user experience.
Officials said the CITES database will help strengthen data management, improve operational efficiency and support quicker delivery of services to millions of EPFO members across the country.
The development reflects EPFO’s continued focus on digital transformation, making provident fund services more accessible, efficient and convenient for subscribers.
8, Jul 2026
Madhavpur Set for Major Upgrade as Gujarat Advances Redevelopment Plans
Gandhinagar, July 8: Gujarat has moved ahead with the second phase of redevelopment of the historic Madhavpur pilgrimage site, with a focus on improving visitor facilities, preserving cultural heritage and promoting tourism.
The project aims to enhance infrastructure at the site by adding better amenities and creating a more comfortable experience for devotees and tourists. The redevelopment will also help showcase the historical and cultural importance of Madhavpur while supporting local tourism growth.
Officials said the initiative is part of Gujarat’s efforts to strengthen facilities at important heritage and religious destinations across the state. The upgraded site is expected to attract more visitors and provide improved services while maintaining its traditional character.
The redevelopment work reflects a balance between modern infrastructure development and the preservation of Madhavpur’s rich cultural legacy.
8, Jul 2026
Edelweiss Life reports 99.31 percent Claim Settlement Ratio in FY26, marking 4 years above 99 percent
July 08: Edelweiss Life Insurance reported its highest-ever Claim Settlement Ratio of 99.31% in FY26, marking the 4th consecutive year its ratio has remained above 99% level. The company also achieved zero claim pendency, meaning every claim received was resolved during the financial year. This reaffirms the life insurer’s commitment to standing by its customers and their families when it matters the most.
Claim Settlement Ratio measures the percentage of death claims paid against the total claims received and is among the most important indicators of an insurer’s ability to honour its commitments to policyholders.
Sumit Rai, MD & CEO, Edelweiss Life Insurance, said, “Life insurance relies on trust because its value is realised several years after the purchase. It denotes a promise that the policyholder made to their loved ones and we consider it our utmost honour to deliver on that promise so that their aspirations remain intact. This number reflects our commitment to ensuring that genuine claims are settled with speed, care, and transparency.”
Under its Insta-Claims initiative, the life insurer settled 84% of eligible claims within 24 hours, helping beneficiaries access funds quickly and reducing uncertainty during emotionally challenging times.
The company’s claims performance is the outcome of a sustained focus on building trust at every stage of the customer journey. By combining robust risk assessment, digital innovation and a customer-first approach, Edelweiss Life continues to strengthen its ability to deliver on its promises – ensuring that when families need support the most, they can count on the company to deliver.
8, Jul 2026
Doorvery Records Explosive Growth in First Quarter of 2026-27, Achieves INR 51.12 Crore ARR
New Delhi, July 8: Doorvery, an emerging B2B grocery delivery platform, today announced impressive growth milestones in the first quarter of 2026-27. The revenue growth was 30-40 percentage month on month with profitability from day one, Doorvery continues to redefine the B2B grocery procurement sector.
Key Highlights
· Achieved ₹51.12 Crore ARR in the first quarter of 2026-27.
· Recording 30-40% month-over-month growth.
· Profitable from day one of operations.
· Serving a diverse client base including retailers, wholesalers, hotels, and restaurants.
Commenting on the milestone, G. Surya Nayayan Patro, Director of Doorvery, said,
“Crossing INR 51.12 Crore ARR within the first quarter of 2026 reflects the trust our customers have placed in us and the dedication of our team to building a sustainable business. While rapid growth is encouraging, our focus remains on creating long-term value through operational excellence, technology-led innovation, and customer-centric solutions. We believe the B2B grocery sector is entering a new phase of digital transformation, and Doorvery is well-positioned to lead this evolution by delivering smarter, faster, and more reliable procurement experiences for businesses across India.”
