Indian benchmark indices, Sensex and Nifty, saw early gains driven by lower crude oil prices and buying in Reliance Industries, even as the Reserve Bank of India maintained its benchmark policy rate for the fourth consecutive meeting, reinforcing confidence in the domestic economy.
A 68-year-old Mumbai resident was defrauded of Rs 7.21 crore by cyber criminals who threatened her with false accusations of money laundering and terror funding. The fraudsters coerced her into transferring funds to bank accounts and a cryptocurrency wallet after impersonating officials from various agencies.
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.
Govind Dev Giri Maharaj, treasurer of the Shri Ram Janmabhoomi Teerth Kshetra Trust, acknowledged supervisory lapses at the Ayodhya Ram temple following alleged donation theft, but stated he would not resign as he does not consider himself personally at fault. He estimated the theft could be around Rs 3 crore and criticised SBI for not verifying employee credentials.
BJP MP Raghav Chadha addressed the 12th IPU Global Conference of Young Parliamentarians in Samarkand, Uzbekistan, highlighting India's digital transformation journey. He emphasised how technology is widening access and promoting inclusion, citing UPI's success, affordable data, and robust data protection laws. Chadha also discussed India's digital cooperation with Uzbekistan and the importance of digital rights, safety, and skill development for all citizens.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
State Bank of India has launched a suite of AI-powered digital innovations on its YONO platform, enhancing both retail and business banking services. These new features include a 3-in-1 digital onboarding process, a sustainability tracker, integrated trade finance, and an AI virtual assistant, aiming to provide intelligent and future-ready banking experiences for its 53 crore customers.
Making several announcements in the assembly, Vijay, fulfilling TVK's key electoral assurances, announced three free cooking gas cylinders and also declared that the Parandur greenfield airport project will be shelved.
'It's A Cat And Mouse Game.'
Ladakh Lieutenant Governor Vinai Kumar Saxena has approved new rules for the regularisation of 'nautor lands', granting proprietary rights to eligible landholders. This move aims to resolve a long-pending issue, provide legal certainty, and allow land to be used as a financial asset for thousands of residents in the Union Territory.
Commerce Secretary Rajesh Agarwal highlighted the critical need for India to diversify its services exports beyond the dominant IT/ITeS and professional services sectors. Speaking at the Global Fintech Fest 2026, he emphasised the vast potential in the global financial services market, where India currently holds a small share, and stressed how fintech solutions, like UPI, can drive growth, reduce remittance costs, and support MSME trade finance, ultimately leading to sustainable economic expansion.
Madhya Pradesh Chief Minister Mohan Yadav has indicated a potential renaming of Orchha's historic Jahangir Mahal to Veer Singh Mahal, honouring Bundela ruler Veer Singh Judeo. Yadav stated that Veer Singh originally built the palace, and the move aims to highlight overlooked historical aspects. Former minister Narottam Mishra supported the proposal, citing a "malicious attempt to erase our historical heritage" by Mughals. The palace, a blend of Bundela and Mughal architecture, was built for Jahangir but he never resided there.
The Calcutta High Court has extended interim protection for TMC MP Abhishek Banerjee until November 30, directing police not to take coercive steps in three criminal cases, stating that custodial interrogation is not necessary.
Indian benchmark indices closed marginally higher, with the Sensex gaining over 43 points and the Nifty remaining flat, as a spike in crude oil prices due to geopolitical uncertainties tempered risk appetite.
Indian stock market indices closed on a mixed note, with the Sensex gaining 374 points driven by buying in Reliance Industries and ICICI Bank, while the Nifty remained flat. This divergence is attributed to a new Closing Auction Session (CAS) mechanism introduced by stock exchanges, impacting market liquidity and price discovery.
Reserve Bank Deputy Governor S C Murmu has highlighted the "cash paradox" where currency in circulation continues to grow despite a significant increase in digital payments. This trend complicates the RBI's forecasting and planning for currency production and distribution, prompting the central bank to seek solutions and explore ways to extend banknote life and reduce the carbon footprint of the cash cycle.
The ruling does not mean developers must always pay stamp duty. The liability depends on the applicable law and contractual terms.
The Delhi High Court has mandated a six-month forensic audit into the alleged dissipation of assets by former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, stemming from enforcement proceedings by Japanese drug major Daiichi Sankyo.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
Essel Group founder Subhash Chandra has called for an independent audit to examine the group's borrowings, defaults, and repayments, stating that approximately 43,000 crore of its 45,000 crore total debt has been repaid.
'Modi had his own cricket team in his school days. He was a good cricketer.'
Indian listed companies experienced their fastest revenue growth in 15 quarters during Q1FY27, with combined net sales rising 18.4% year-on-year, while net profit grew 16%, primarily driven by mining, metals, and banking sectors, despite a contraction in operating margins due to higher input costs.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
Indian benchmark equity indices, Sensex and Nifty, extended their decline for a second consecutive day, primarily due to elevated crude oil prices and selling pressure on Tata Group stocks following Tata Sons Chairman N Chandrasekaran's announcement that he will not seek reappointment.
Election-related freebies and populist measures are other factors crimping the revenue profile of these states.
A Special Investigation Team (SIT) probing the alleged embezzlement of donation money at the Ram Temple in Ayodhya is expected to question people associated with the Shri Ram Janmabhoomi Teerth Kshetra Trust and review banking arrangements for donations.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
The Unified Payments Interface (UPI) has completed a decade since its launch, becoming the backbone of India's digital payments ecosystem. It has seen exponential growth in transaction volume and value, expanding financial inclusion and setting a global benchmark for real-time payments.
If India does get $100 billion a year in FDI, it would be a game-changer in every possible way. FPIs would come rushing back, AI or no AI, points out Debashis Basu.
Indian benchmark indices Sensex and Nifty saw a significant rebound in early trade, driven by softer-than-expected US inflation data which has reinforced expectations of a less aggressive monetary policy stance from the Federal Reserve, providing relief to global risk assets.
Minister of State for Telecom Chandra Sekhar Pemmasani urged BRICS nations to collaborate on building institutional capacity and advocating for fair standards in international telecom and ICT bodies. He highlighted India's willingness to share its modular, open-source digital public infrastructure frameworks like Aadhaar and DigiLocker, emphasising their role in sustainable development and economic growth across the Global South.
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.
The Reserve Bank of India (RBI) has prematurely closed its swap facility for foreign currency non-resident (bank) deposits, FCNR(B), one month ahead of schedule, after banks mobilised $52.3 billion under the scheme by August 13, indicating sufficient foreign currency reserves.
Indian golfer Diksha Dagar has dropped out of the Top 10 in the Ladies European Tour (LET) Order of Merit, now ranking 11th after missing the cut at the VP Bank Swiss Ladies Open. Other Indian golfers like Pranavi Urs, Avani Prashanth, and Aditi Ashok also feature in the rankings.
RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
In the next 36 months nearly 25 to 40 per cent of jobs will be under threat from AI and job losses are inevitable.
Whether it's a five-star banquet hall, a school lunch supplier, a blood bank, or a Bollywood actors' surrogate advertisements, Tukaram Mundhe seems to have an opinion, a bye-law, and very possibly an inspection team on standby.
Lack of women in Karnataka's new council of ministers has put the spotlight once again on women's under-representation in politics and policy.
Gujarat CID has arrested Rafiqul Alam, the alleged 'mastermind' behind 1,090 cybercrimes totalling Rs 1,071.5 crore, who was found to have links with China-based criminals and converted illicit funds into cryptocurrencies.
