The Reserve Bank of India's concessional swap facility, designed to boost foreign currency inflows, has successfully attracted USD 40.82 billion by July 31, 2026, with a significant portion coming from Foreign Currency Non-Resident (Bank) deposits.
The Indian government has approved the introduction of one billion polymer banknotes in Rs 10 and Rs 20 denominations for field trials, aiming to enhance durability. This move comes as the Finance Minister also addressed Parliament on declining retail inflation, GST reforms, and other fiscal measures taken to support the economy and household consumption.
The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, driven by a surge in Brent crude oil prices above USD 91 per barrel due to escalating tensions between Iran and the US, alongside an increase in US 10-year bond yields. Track Sensex, Nifty on August 18.
The Reserve Bank of India (RBI) maintained its key policy rates for the fourth consecutive time, keeping the repo rate at 5.25 per cent, while the benchmark BSE Sensex closed 152 points higher in a volatile session, recovering from an intraday dip.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for competition, policy autonomy, and a sustainable payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI, and the US has criticised India's digital payment systems, raising concerns about the future of India's digital payment landscape.
Under bullet repayment, the principal remains outstanding and unpaid interest raises the liability over time. This makes the LTV ratio more vulnerable to a sharp fall in gold prices.
Indian benchmark equity indices, Sensex and Nifty, experienced declines in early trade due to a surge in Brent crude oil prices, which rose above USD 90 per barrel, coupled with subdued global cues and ongoing US-Iran skirmishes. Track Sensex, Nifty on Auigust 12.
Poor families, she said, cut corners on their own needs to pay for coaching and fees, and when their child clears JEE, it's the happiest day the family has had in years. So why, she asked, her voice already starting to climb, does the same system that we're told is the best in the country keep pushing those very students toward what she called 'institutional deaths'?
Indian benchmark indices, Sensex and Nifty, experienced significant declines, with the Sensex falling 493 points and the Nifty dropping for the sixth consecutive day, primarily due to elevated crude oil prices reaching USD 91 per barrel and diminishing hopes for a diplomatic resolution in West Asia.
The income tax department has significantly reduced refund processing times over the past few years. But while some taxpayers receive refunds within days, others may wait several weeks or even longer. Here's why.
The Reserve Bank of India has marginally increased its GDP forecast for the current fiscal to 6.7 per cent while slightly lowering the inflation projection to 5 per cent. The central bank noted that while domestic economic activity shows resilience, global turbulence, particularly re-escalating conflicts and volatile oil prices, continues to pose risks to the inflation outlook.
The PM CARES Fund experienced a 30 per cent decrease in domestic donations and an 18 per cent drop in foreign contributions during the fiscal year 2024-2025. Despite this, the total balance in the fund increased to Rs 8,452 crore, primarily held in fixed deposits and savings accounts. The fund's expenditure on the PM CARES for Children Scheme also saw a sharp reduction.
Indian benchmark indices Sensex and Nifty closed lower, with the Sensex dropping 388 points and Nifty declining 112 points, as a sharp rally in crude oil prices, driven by geopolitical uncertainties and concerns over the Strait of Hormuz, dampened investor sentiment and reignited inflation fears.
The biggest challenge to widespread deployment is no longer AI. It is the financial and commerce infrastructure that was built decades ago for deterministic software and human interactions -- not autonomous AI agents.
Telangana Chief Minister A Revanth Reddy's planned visit to the United States has been denied political clearance by the Ministry of External Affairs (MEA), citing non-conformity with laid down norms, forcing him to cancel the US leg of his 'TelanganaRising' delegation tour and return to Hyderabad earlier than planned.
Gold futures saw a significant rise for the second consecutive day, driven by strong overseas market rallies, increased safe-haven demand due to geopolitical uncertainties, and a weaker US dollar. This surge coincided with the Reserve Bank of India's decision to maintain its repo rate, reflecting a focus on growth amidst global inflation concerns and easing oil prices.
The Supreme Court has extended its order staying the arrest of Sumit Roy, personal assistant to Trinamool Congress MP Abhishek Banerjee, in connection with the Salboni land-grabbing case. The West Bengal government alleged Roy was not cooperating with the probe, while Roy's counsel argued he has a right to silence and the case is politically motivated. The court will review a sealed cover report from the police before further proceedings.
Vodafone Idea (Vi) significantly reduced its losses in Q1 FY27 to approximately 3,754 crore, driven by an exceptional gain and increased average revenue per user (Arpu). The company also reported its first net subscriber additions since its 2018 merger, indicating a positive shift in its operational trajectory.
Tata Sons, the holding company of the Tata group, continues to be classified as an 'upper-layer non-banking financial company' (NBFC) by the Reserve Bank of India (RBI), despite its application to deregister as an NBFC-Core Investment Company (CIC) remaining under consideration. This classification subjects it to enhanced regulation and a mandatory listing requirement, which remains uncertain.
Indian companies, including NBFCs, filed proposals with the RBI to raise $6.08 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in June, marking a significant increase from the previous month.
Indian benchmark indices, Sensex and Nifty, saw declines in early trade, with the ongoing US-Iran standoff cited as a major factor impacting investor sentiment and raising concerns about inflationary pressures and currency volatility for oil-importing nations like India. Track Sensex, Nifty on August 14, 2026.
The Maharashtra government has declared snakebite a notifiable disease, mandating all healthcare providers to report cases and deaths. This move aims to strengthen monitoring, ensure timely treatment, and improve anti-snake venom availability, following a tragic incident where tribal schoolgirls died from snakebites.
An attempted burglary occurred at a Punjab National Bank branch in Uchi Bassi village near Dasuya, with the intruder failing to access the main safe but stealing a digital tablet.
Abhijeet Dipke, founder of the Cockroach Janta Party (CJP), has called for the PM CARES Fund, which holds over Rs 8,452 crore, to be used to improve infrastructure in rural schools and build more than 1,000 new high-tech schools, highlighting the dire conditions faced by children.
The Telecom Regulatory Authority of India (Trai) has expanded the 1600-number series to include utilities, courier, and logistics companies, introducing the new 1601 series to help consumers identify legitimate calls and prevent widespread fraud and impersonation.
Newly appointed BJP Minority Morcha national president Kunwar Basit Ali announced a strategic focus on approximately 100 Uttar Pradesh assembly seats, aiming to connect the Muslim community with the BJP by highlighting government welfare schemes and dispelling "misconceptions" about the party.
Generative artificial intelligence (AI) is beginning to alter hiring patterns in South Asia, with multinational companies (MNCs) and firms integrated into global value chains (GVCs) reducing recruitment more sharply than domestic firms, signalling the technology's early impact on the region's export-oriented services sector, according to the World Bank's World Development Report 2026.
The Securities and Exchange Board of India (Sebi) has swiftly barred Copthall Mauritius Investment and Mansi Share & Stock Broking from the securities market for alleged manipulative trades during the closing auction session (CAS) on Sensex expiry. The regulator has also directed the impounding of wrongful gains totalling 3.67 crore from the two entities.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for the defence of competition, policy autonomy, and the long-term sustainability of its payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI transactions, a move GTRI suggests should not be influenced by foreign trade complaints.
The Anti-Corruption Branch has sought judicial custody for former Delhi minister Satyendar Jain, ex-Delhi Jal Board CEO Udit Prakash Rai, and three others in a corruption case related to alleged irregularities in the tendering process for Delhi Jal Board's sewage treatment plant projects. The accused's counsels have challenged the arrests, with Jain's lawyer planning a bail plea.
RBI Governor Sanjay Malhotra stated it is "premature" to discuss the implementation of Merchant Discount Rate (MDR) for digital payments, advising a "wait-and-watch" approach. He emphasised that investment in public payment infrastructure is necessary and someone must bear the cost, whether through taxes or MDR. The government is currently working on amendments to relevant statutes, and the RBI is focused on strengthening this infrastructure.
Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) on digital transactions applies to merchants, not customers, and aims to support banks and fintech in infrastructure investment. She countered Congress leader Jairam Ramesh's claims, stating that a committee will decide on MDR only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, a process currently stalled by parliamentary disruptions.
A significant fire broke out in the basement of the seven-storey Income Tax Office building at Churchgate, South Mumbai, on Monday afternoon, leading to the evacuation of numerous individuals, with no casualties reported so far.
The Bank Nifty is currently trading at a 43.5 per cent discount to the Nifty 50, near its widest gap since 2015, reflecting investor pessimism despite the banking sector's strong earnings growth.
India's foreign exchange reserves increased by USD 6.118 billion, reaching USD 682.354 billion for the week ending July 24, according to the Reserve Bank of India.
Police in Gonda, Uttar Pradesh, have registered a case against 69 former and serving officers and employees of an Indian Bank branch for allegedly embezzling nearly Rs 5 crore from a union account. The case was filed following a court order after the accused failed to return the embezzled funds despite an earlier undertaking.
'A favourable base, last year's policy measures, the carryover impact of a good monsoon and improving earnings should all help.'
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
Foreign Currency Non-Resident (Bank), or FCNR (B), deposits mobilised under the Reserve Bank of India's (RBI's) concessional swap facility may have already surpassed the amount raised during the 2013 scheme in just about 45 days, prompting SBI Research to sharply raise its estimate for inflows under the facility to $65-70 billion.
