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.
The Reserve Bank of India has approved a three-month extension for Keki Mistry as the interim chairman of HDFC Bank, continuing his tenure until September 18, 2026, or until a regular chairman is appointed.
Indian benchmark equity indices, Sensex and Nifty, rebounded nearly 1 per cent, with the Sensex jumping 790.54 points to 76,991.22, driven by softening crude oil prices and strong buying in banking, financial, and IT shares.
Fugitive diamond merchant Nirav Modi has been ordered by a UK High Court to pay Bank of India over USD 11.5 million, including accruing interest, for a personal loan guarantee related to his Dubai-incorporated firm, Firestar Diamond FZE.
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.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade, primarily due to a surge in crude oil prices and a retreat in Wall Street, as investors reduced exposure to risk assets amidst geopolitical uncertainty. Track Sensex, Nifty on August 7, 2026.
'...A new challenge has emerged in the form of Mythos.'
Microsoft has launched its fourth cloud region in India, located in Hyderabad, significantly expanding its hyperscale cloud presence. This move is part of a USD 20.5-billion investment in India's digital and AI infrastructure, aiming to support the country's rapid digital growth and meet increasing demand from major enterprises.
The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
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.
The RBI once again said the Tata group holding company's application for deregistration as an NBFC remains under examination.
DIIs invested $22.8 billion in Indian equities in Q2CY26.
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.
Bangladeshi cricket legend Shakib Al Hasan, an ally of ousted PM Sheikh Hasina, is willing to return from exile in the US to face charges, including murder, if the government guarantees his safety. He hopes to play a farewell series and represent Bangladesh in the 2027 World Cup, highlighting the challenges faced by Hasina's allies after her government's fall.
Analysts predict that the Reserve Bank of India's interest rate decision, the evolving situation in West Asia involving the US-Iran conflict, and crude oil prices will be the primary factors influencing investor sentiment in the Indian stock market this week.
Reserve Bank of India Deputy Governor Rohit Jain has stated that India cannot rely solely on bank balance sheets to fund the extensive investment required for its 'Viksit Bharat' (developed India) goal by 2047, emphasising the critical need for deeper corporate bond, foreign exchange, and derivatives markets.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade due to a significant spike in crude oil prices, driven by escalating geopolitical uncertainties, despite positive cues from Asian and US markets.
Indian benchmark indices Sensex and Nifty recorded sharp gains, rising over 1 per cent, driven by strong performances in IT stocks, HDFC Bank, and renewed foreign fund inflows, despite mixed global cues and elevated crude oil prices.
Indian benchmark stock indices, Sensex and Nifty, experienced mixed trading following the introduction of a new Closing Auction Session (CAS) for shares with futures and options (F&O) contracts, aimed at enhancing price discovery transparency. Track Sensex, Nifty on August 4
Analysts predict that crude oil prices, geopolitical tensions in West Asia, and upcoming inflation data will be the primary drivers of the Indian stock market this week, alongside foreign investor activity and domestic quarterly earnings.
Vivo T5 Lite 5G has made its debut with a feature-packed specification sheet aimed at budget-conscious buyers.
Indian benchmark stock indices, Sensex and Nifty, extended their winning streak to a fourth day, with Nifty surging 1.60 per cent, driven by a sharp decline in crude oil prices and renewed foreign fund inflows.
India's public sector banks (PSBs) have seen their net profit nearly treble over the past five years, reaching a record Rs 1.98 trillion in FY26, driven by significant improvements in asset quality and sustained lending growth across key economic sectors.
The Indian government has clarified that consumers will not be charged for UPI transactions, and most merchant transactions will also remain free. This comes amidst speculation following an amendment to the Payment and Settlement Systems Act, 2007. Any future merchant discount rate (MDR) would be nominal, threshold-based, and aimed at ensuring UPI's long-term sustainability and infrastructure development.
India is projected to attract between $80 and $85 billion through the Reserve Bank of India's (RBI) concessional swap facility, designed to boost foreign currency inflows, according to an SBI research report.
Indian-origin golfer Sahith Theegala is in contention for a Top-10 finish at the Wyndham Championship, the final regular-season PGA TOUR event. Despite a mixed third round, he remains close to the leaders, aiming for a strong performance to boost his FedExCup Play-offs chances. Beau Hossler and Michael Brennan currently share the lead.
India's largest retirement fund manager, the Employees' Provident Fund Organisation (EPFO), is enhancing its investment governance and fund management practices, following the Reserve Bank of India's recommendations.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
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.
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 recent SBI Economic Research report indicates that the significant gap between credit and deposit growth, currently over 530 basis points, is likely to persist if geopolitical risks and external supply shocks continue. However, an improvement in deposit growth is anticipated with inflows into foreign currency non-resident (bank) deposits.
The Bureau of Indian Standards (BIS) is preparing to significantly increase its silver jewellery testing capabilities and expand its national laboratory network, driven by a shift in consumer demand from gold to silver and a broader push for enhanced product certification and surveillance.
Jharkhand has partnered with CSC eStore to create a digital marketplace for products made by women's self-help groups (SHGs). This initiative aims to expand market access, boost income for rural women, and strengthen the rural economy through e-commerce and digital governance. The state also plans to extend Aadhaar services to all panchayats by November 15.
'Applying AI to change the lives of Indians and at population scale -- just like we did with DPI [digital public infrastructure] -- is really where it's going to go.'
Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
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.
LAMF allows investors to access liquidity while staying invested.
Tewolde Gebremariam, a seasoned aviation professional with extensive experience at Ethiopian Airlines, has been named the new Chief Executive Officer and Managing Director of Air India. He is tasked with leading the airline's ambitious five-year transformation plan, Vihaan.AI, aimed at achieving significant growth and profitability, marking him as the second foreign national to helm Air India under Tata Group ownership.
The divergence between the Sensex and Nifty closing values narrowed on the third day of the Closing Auction Session (CAS) rollout, but market participants, including Zerodha's Nithin Kamath, highlight structural issues and the unfortunate timing of its introduction alongside new RBI norms.
