ModiWatch: Prime Minister Narendra Modi spoke with Australian PM Anthony Albanese, discussing bilateral relations and cooperation in multilateral forums, including the Quad. The Quadrilateral Security Dialogue, or Quad, is a diplomatic partnership between Australia, India, Japan, and the United States.

India's bio-revolution: Science Minister Dr. Jitendra Singh announced that India's biotech sector has grown from $10 billion to $130 billion in a decade, and is projected to reach $300 billion by 2030. Referring to the new BioE3 Policy, Dr. Singh said the policy encourages entrepreneurship in sectors such as bio-based chemicals, smart proteins, and climate-resilient agriculture. It establishes cutting-edge bio manufacturing facilities, bio foundry clusters, and Bio-AI hubs, he added. These hubs will facilitate the transition from lab to commercial-scale production in areas like mRNA vaccines and gene therapies. The initiative is expected to generate significant employment, leveraging local biomass sources for regional economic development.

Ladakh gets 5 new districts: The Ministry of Home Affairs has announced the creation of five new districts in Ladakh: Zanskar, Drass, Sham, Nubra, and Changthang. This decision increases the total number of districts in the union territory from two to seven. Union Home Minister Amit Shah claims this move will improve governance and ensure better delivery of public welfare schemes in the region's remote areas, facilitate easier access to government services and promote development in Ladakh's challenging terrain.

Improving India’s lending space: Reserve Bank of India (RBI) Governor Shaktikanta Das announced the nationwide rollout of the 'Unified Lending Interface' (ULI) technology platform. An initiative to transform India's lending ecosystem. The ULI platform will streamline credit appraisal processes, particularly benefiting small and rural borrowers. By facilitating the smooth, consent-based flow of digital information—including land records—between data providers and lenders, ULI is expected to significantly reduce credit approval times. Das referred to the combination of JAM (Jan Dhan-Aadhaar-Mobile), UPI (Unified Payments Interface), and ULI as the “new trinity” marking a revolutionary step in India's digital infrastructure journey.

Indian Ministers strengthen bilateral relations with Singapore: External Affairs Minister S. Jaishankar, Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Railway Minister Ashwini Vaishnaw met with Singapore's President Tharman Shanmugaratnam and Prime Minister Lawrence Wong to strengthen bilateral relations. The second India-Singapore Ministerial Roundtable (ISMR) focused on cooperation in digital, skill development, sustainability, healthcare, connectivity and advanced manufacturing. 

Indian markets rallied strongly on expectations of U.S. fed rate cuts: Indian stock market benchmark indices Sensex and Nifty surged nearly 1 per cent on Monday. The surge was driven by renewed foreign fund inflows and strong buying in the likes of HDFC Bank and Reliance Industries. Gains in metal, IT, and consumer durable sectors also boosted investor sentiment amid hopes that the U.S. Federal Reserve will start cutting interest rates soon.

Delhi Today: Intervals of clouds and sunshine with isolated thunderstorms appearing here and there.

Lok Sabha: Not in session.

Rajya Sabha: Not in session.

Closing prices: Delhi Spot Gold:  ₹7,135 ▷ SENSEX: 81,388.26▲302.05 NIFTY: 24,923.10▲99.5 10 Year Gilt:6.85% ▷ ₹/$: 83.9025▼0.01%

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