NEW DELHI: India is set to commission its third indigenous nuclear-powered ballistic missile submarine, INS Aridhaman, into the Indian Navy on Friday, news agency ANI reported, marking a major boost to the country’s strategic deterrence capabilities.Hinting at the induction, defence minister Rajnath Singh posted on X in Hindi: “It’s not a word, it’s power, ‘Aridhaman’!”INS Aridhaman, part of India’s Arihant-class submarines, is a 7,000-tonne vessel, making it larger and more advanced than its predecessors INS Arihant and INS Arighaat. Built under the Advanced Technology Vessel programme at Visakhapatnam, the submarine represents a key milestone in India’s indigenous defence capabilities.

Equipped with an 83 MW Compact Light Water Reactor, the submarine is designed for enhanced stealth and endurance. It features advanced indigenous sonar systems and acoustic suppression technologies, improving its underwater detection and survivability.A major upgrade over earlier platforms is its increased missile capacity. INS Aridhaman is fitted with eight vertical launch system tubes, double that of earlier submarines, allowing it to carry up to 24 K-15 Sagarika missiles with a range of 750 km or eight K-4 missiles with a range of 3,500 km. It is also expected to support future K-5 missiles with a range of around 6,000 km.With its induction, India will operate three nuclear-powered ballistic missile submarines under the Strategic Forces Command. This strengthens the country’s sea-based leg of the nuclear triad and moves it closer to achieving continuous at-sea deterrence, ensuring at least one nuclear submarine remains deployed at all times.The submarine is expected to be based at Project Varsha near Visakhapatnam, a high-security naval facility designed to house India’s nuclear fleet.India is also progressing on additional naval capabilities, including the planned induction of the Russian Akula-class nuclear-powered attack submarine, Chakra III, and negotiations for advanced diesel-electric submarines under Project-75(I).

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MUMBAI: Credit growth continued to outpace deposit mobilisation for Punjab National Bank, Union Bank of India and IDFC FIRST Bank at the end of the March quarter, reflecting sustained loan demand in a tight liquidity environment.Punjab National Bank reported global advances of Rs 12,61,420 crore as of March 31, 2026, up nearly 13% year-onyear, while global deposits rose 9.3% to Rs 17,11,476 crore. The bank’s total global business stood at Rs 29,72,896 crore, reflecting a 10.8% increase. Domestic advances grew 12.2% to Rs 11,95,811 crore and domestic deposits rose 9.2% to Rs 16,49,409 crore. The global credit-deposit ratio stood at 73.7% at the end of the quarter.Union Bank of India reported global advances of Rs 10,78,779 crore, marking a 9.8% year-on-year increase, while global deposits rose 2.7% to Rs 13,06,900 crore. Total global business stood at Rs 23,85,679 crore, up 5.8%. Growth was led by the retail, agriculture and MSME segments, where advances rose 12.6% to Rs 5,98,620 crore. Domestic CASA deposits increased 7.9% to Rs 4,59,988 crore, with the CASA ratio improving to 35.2%.IDFC FIRST Bank reported loans and advances of Rs 2,90,362 crore at the end of March, up 20% year-on-year, while customer deposits rose 17.2% to Rs 2,84,327 crore. The bank’s CASA ratio improved to 49.8% from 46.9% a year earlier. It said customer acquisition remained stable through March despite year-end tax outflows and tight system liquidity. It said asset quality stress in its microfinance portfolio has normalised, supporting further credit growth.

Punjab Kings’ skipper Shreyas Iyer (ANI Photo)

Punjab Kings may be riding high on the field, but skipper Shreyas Iyer has landed in trouble off it after being fined ₹24 lakh for maintaining a slow over-rate during their win over Chennai Super Kings. The penalty comes as Punjab’s second over-rate offence of the season, which means the consequences extend beyond the captain. The rest of the playing XI, including the Impact Player, have also been fined ₹6 lakh or 25 per cent of their match fees, whichever is lesser. The bigger concern for Punjab, however, lies ahead. As per IPL regulations, another breach during the remainder of the season will result in Iyer being fined ₹30 lakh and handed a one-match suspension. With PBKS still having at least 12 matches left in the league stage, the margin for error is now extremely slim. The fine comes on a night when Iyer led from the front with the bat, scoring a fluent 50 off 29 balls to anchor Punjab’s five-wicket win while chasing 209. His 59-run stand with Nehal Wadhera proved decisive as Punjab chased down the target with composure. Punjab’s chase was set up early by Priyansh Arya’s explosive 39 off 11 balls, while Prabhsimran Singh and Cooper Connolly ensured steady progress through the middle overs. But it was Iyer who took control after a cautious start, accelerating against the spinners and playing a range of authoritative shots, including a standout inside-out six off Rahul Chahar. Earlier, Chennai Super Kings had posted 209 for five, powered by Ayush Mhatre’s impressive 73 off 43 balls. He shared a 96-run partnership with skipper Ruturaj Gaikwad, who made 28, after an early setback with the dismissal of Sanju Samson. Despite the strong total, CSK were unable to contain Punjab’s batting depth, as late contributions from Sarfaraz Khan and Shivam Dube proved insufficient in the end. While the result strengthened Punjab’s position with a second consecutive win, the slow over-rate offence has added a layer of pressure on Iyer’s captaincy. With a long season still ahead, Punjab will need to be cautious, as another slip-up could see their skipper miss a crucial match at a decisive stage of the tournament.

MUMBAI: Months after his exit, former Sir Ratan Tata Trust (SRTT) trustee Mehli Mistry has challenged the positions of Venu Srinivasan and Vijay Singh on the board of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, arguing they are ineligible under the 1923 deed, which bars non-Zoroastrians and non-Mumbai residents, and has called for an official enquiry.The Bai Hirabai Institution is an associate trust of SRTT, a major shareholder in Tata Sons, which runs the $180 billion Tata conglomerate. It was established under the will of Sir Ratanji Tata, the second son of Tata Group founder Jamsetji Tata, who bequeathed properties in Navsari, Gujarat—the Tata family’s ancestral home—to the institution. The real estate was intended for the Parsi community’s use, serving as a recreation ground, nursing home, or hospital.In his objection application filed with the Maharashtra charity commissioner on Friday, Mistry said that given the alleged “illegalities” in the institution’s governance, an administrator should be appointed to replace the current board of trustees, which includes Noel Tata, Jimmy Tata, Jehangir Jehangir, and Darius Khambata. His trusteeship at the institution was not renewed last year following a vote by Noel, Srinivasan, and Singh against it. All six of these individuals also serve on the board of SRTT, where his term was likewise not extended. Mistry cited clauses 6 and 18 of the 1923 deed, saying: “No person who is not of Zoroastrian faith shall be appointed as a trustee, and if any trustee ceases to profess the Zoroastrian faith, he shall cease to be a trustee, as if he were ‘dead’. Similarly, any person who ceases to be a permanent resident of the Bombay Presidency shall also cease to be a trustee.”He contended that Srinivasan, chairman emeritus of TVS Motor, and Singh, a former defence secretary, have “never been, and cannot be, of Parsi Zoroastrian faith” and do not have any permanent residence in Mumbai. Both never met the two clauses and are “expressly disqualified from acting as trustees.”Mistry, a Parsi Zoroastrian with a permanent residence in Mumbai, said all trustees should submit affidavits confirming they meet the qualifications under clauses 6 and 18, ensuring strict compliance with the trust deed. He urged the commissioner to “initiate a detailed inquiry…by calling for an affidavit from each applicant.”Mistry asserted that Srinivasan and Singh’s appointments are void from inception, and any actions they took as trustees including their votes against his trusteeship extension are non est in law and without authority. His Friday objection follows the Bai Hirabai Institution’s submission of a change report to the commissioner, reflecting the revised board composition after his trusteeship extension was rejected. Mistry said his tenure was not renewed “without assigning any reason” and argued that the change report is not maintainable, as it is contrary to the trust deed.According to him, if the unqualified trustees are excluded, the total number of trustees would fall below the minimum of five required under the trust deed. He further submitted that “no meetings have been conducted” at the Bai Hirabai Institution “over the past two years, with no regard for the consequences for the beneficiaries of the trust or its legacy of public and charitable works.” He asked the commissioner to call for minutes of all meetings held during this period and to inspect all records.Mistry clarified that his objective is solely to expose the alleged illegal functioning of the institution and is not aimed at seeking his reinstatement. Mistry said his move is motivated by a commitment to uphold the principles of Sir Ratanji Tata’s will, honour the legacy of predecessors, and safeguard the institution’s charitable mandate entrusted to him by former chairman Ratan Tata for the welfare of the Parsi community. Noel and Srinivasan did not respond to an emailed query, while Singh declined to comment.