India's banking system is grappling with a persistent liquidity surplus exceeding Rs 5 trillion, driven by significant government spending and bond redemptions, leading market participants to anticipate the Reserve Bank of India will step up Variable Rate Reserve Repo operations to manage the excess funds.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
NDA leaders have defended proposed amendments to the Women's Reservation Act and the Delimitation Bill, 2026, arguing women have waited long enough for reservation, while opposition parties allege the process could undermine India's federal and democratic structure, particularly impacting southern states.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
Senior Congress leader Shashi Tharoor criticised the government's decision to link women's reservation with the expansion of Parliament, calling delimitation a 'political demonetisation'. He argued that women's reservation should be implemented immediately based on existing parliamentary strength.
Prime Minister Narendra Modi has accused opposition parties of obstructing the passage of the women's reservation bill in Parliament, alleging they have crushed the dreams of women and prioritised selfish politics over national progress.
Opposition members in the Lok Sabha have questioned the government's decision to move a bill to amend the 2023 women's quota law before bringing the principal Act into force.
'You cannot run Parliament with 800 MPs as nobody will get time (to speak in Parliament). And Parliament sits for barely 60 days in a year.' 'Look at the House of Commons of the United Kingdom. They have 650 MPs and they sit for 150 days on an average in a year.'
'Policy consistency combined with timely and calibrated reforms are expected to ensure that India not only maintains macroeconomic stability, but also emerges as a globally competitive and inclusive economy.'
The Indian rupee plummeted to a new all-time closing low of 95.81 against the US dollar, driven by surging crude oil prices, persistent inflation concerns, and a strengthening dollar index.
India's forex reserves dropped $4.39 billion to $690.72 billion for the week ended August 22, the Reserve Bank of India (RBI) said on Friday. The overall reserves had jumped $1.49 billion to $695.11 billion in the previous reporting week.
The Congress party has accused the government of using women's reservation as a pretext to push through delimitation, arguing that the women's quota law should be implemented immediately based on the current Lok Sabha strength.
West Bengal Chief Minister Mamata Banerjee has accused the BJP-led central government of using the proposed amendment to the women's quota law as a front for the Delimitation Bill, which she claims will divide the country. She asserted that her party, the TMC, will fight this move at every step.
The University of Chicago has conferred its Alumni Award for Professional Achievement to India's former chief economic adviser Krishnamurthy V Subramanian, the first Indian economist to receive the honour since 1941.
With the three-day special sitting of Parliament on the constitution amendment bill related to the implementation of 33 percent reservation for women from the 2029 Lok Sabha polls set to begin on Thursday, a meeting of opposition parties is slated to be held on Wednesday at the residence of Congress president Mallikarjun Kharge.
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
West Bengal Chief Minister Mamata Banerjee criticised Prime Minister Narendra Modi's purchase of 'jhalmuri' during a campaign stop, alleging it was a staged event for cameras. She also accused the BJP of aiding Independents from the minority community and criticised the Election Commission over voter roll revisions.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
In a swift political counter-offensive, the Bharatiya Janata Party and its National Democratic Alliance (NDA) partners have announced a massive, nationwide protest campaign targeting the Opposition.
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
West Bengal Chief Minister Mamata Banerjee has accused Prime Minister Narendra Modi of misleading the nation regarding the women's quota bill and plotting to push through the delimitation exercise by using women as a shield.
India's forex reserves increased by $5.17 billion to $696.65 billion for the week ended June 6, the RBI said on Friday. The overall reserves had dropped by $1.24 billion to $691.49 billion for the week ended May 30.
The IPL's Anti Corruption and Security Unit (ACSU) has raised concerns about unauthorised individuals in team areas, prompting the BCCI to tighten security protocols for franchises during the ongoing season.
Virat Kohli praises Smriti Mandhana and Jemimah Rodrigues for their performances in women's cricket, highlighting Rodrigues' World Cup semi-final knock as particularly special. He also acknowledges the impact of the Women's Premier League (WPL) on the rising standards of Indian women's cricket.
The second season of the Russo Brothers' espionage series Citadel, falls short of its global ambitions due to muddled writing and a lack of compelling narrative depth, complains Sukanya Verma.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
Prime Minister Narendra Modi has appealed to the opposition to support the government's bills for implementing the women's reservation law, cautioning against politicisation and assuring that delimitation will be fair to all states.
Opposition leaders have criticised Prime Minister Narendra Modi's address to the nation, calling it politically motivated and a misuse of official platforms during ongoing elections.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
West Bengal Chief Minister Mamata Banerjee has criticised Prime Minister Narendra Modi, accusing him of spreading falsehoods and offering no relief to the poor through his speeches. She made these remarks at a rally in Bhangar, South 24 Parganas district, ahead of Modi's address to the nation.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India to China, raising questions about payment issues and the future of India's Iranian oil imports.
The Indian government is integrating artificial intelligence into the Crime and Criminal Tracking Network & Systems (CCTNS) 2.0 to enhance crime tracking, criminal profiling, and predictive policing across the country.
The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
BJP president Nitin Nabin has accused West Bengal Chief Minister Mamata Banerjee and opposition parties like the Congress for the setback in implementing women's reservation in legislatures.
India's forex reserves rose $2.29 billion to $698.95 billion for the week ended June 13, the RBI said on Friday. The overall reserves had increased by $5.17 billion to $696.65 billion for the previous reporting week ended June 6.
