Explainer: What India's Forex Reserves Are and How the RBI Manages Them

Omar Abdullah Hits Back at BJP Over Rs 100 Crore Defamation Notice

The BJP has served a legal notice to Jammu & Kashmir Chief Minister Omar Abdullah demanding either an apology or supporting evidence for his claim that the party offered Rs 20–30 crore to National Conference legislators to switch sides. Abdullah had made the bribery allegation against the BJP, which the party denies. In response to the notice, Abdullah accused the BJP of hiding behind the courts rather than addressing the substance of his allegation. The dispute highlights ongoing tensions between the ruling National Conference in J&K and the BJP. The legal notice seeks damages of Rs 100 crore from the Chief Minister.

The Daily Catch-Up: From missing railway linen to India’s moment at Lord’s

CBI Uncovers Rs 1 Crore Scholarship Fraud in Bhopal Involving Fake KYC

The Central Bureau of Investigation has exposed a scholarship scam in Bhopal in which approximately Rs 1 crore was fraudulently siphoned off. The scheme involved the creation of fake accounts, incorrect KYC details, and false OTPs to illegally access scholarship funds. Investigators found that the fraud was carried out through systematic manipulation of digital verification processes. The CBI's findings point to a coordinated effort to exploit government scholarship disbursement systems.

Japan to establish first dedicated spy agency with $407M budget and 33,000 assets

Japan is moving to create its first-ever domestic intelligence agency, a historic shift for a country that has operated under strict security limitations since World War II. The agency is set to manage approximately 33,000 assets and operate on a budget of around $407 million. Prime Minister Sanae Takaichi is the driving force behind the initiative, viewing it as a key pillar of her broader national security agenda. Takaichi aims to loosen the post-war constraints that have long restricted Japan's intelligence and defense capabilities. The move signals a significant transformation in Japan's approach to national security on both domestic and international fronts.