'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
The Reserve Bank of India's (RBI) cap on banks' forex positions provided only a temporary boost to the rupee, with the currency quickly reversing gains and breaching the 95-per-dollar mark due to persistent underlying pressures.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
Markets face risk of a prolonged bear phase as oil shocks and geopolitical tensions test inflation, growth and investor confidence globally, points out Debashis Basu.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
The Indian government has announced the replacement of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-G RAM G Act, 2025, effective July 1. The new scheme aims to expand guaranteed wage employment and link it more closely with infrastructure development and climate resilience, but faces concerns from opposition parties and labour rights activists.
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
Indian benchmark indices Sensex and Nifty experienced a significant tumble in early trade, driven by surging global oil prices, continuous outflows by Foreign Institutional Investors (FIIs), and persistent geopolitical uncertainties, particularly in West Asia.
Indian weightlifters are set to compete in the Asian Championships, aiming to leverage home advantage and gain momentum for the upcoming Commonwealth and Asian Games.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
Mizoram police and Assam Rifles seized methamphetamine tablets worth Rs 38.7 crore in Champhai district, bordering Myanmar, arresting three individuals including a Myanmar national.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
The Supreme Court granted bail to the wife of the alleged 'kingpin' of a Rs 3,700-crore scam and directed that no court shall de-freeze the assets attached by the probe agencies in the case till the trial in the FIRs against the accused are concluded.
Indian benchmark indices Sensex and Nifty surged over 1 per cent, with the Sensex jumping 918.60 points, driven by strong buying in banking and financial counters and a positive trend in global equities, fuelled by hopes of easing West Asia tensions.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Union Minister Pankaj Chaudhary stated that Prime Minister Narendra Modi strengthened the Enforcement Directorate (ED) to combat financial crimes like money laundering and corruption, dismissing allegations of it being used to target political opponents.
Following regulatory action against Paytm Payments Bank Ltd (PPBL), Paytm strategically separated its core operations, a move praised by analysts for preserving business continuity and governance. This separation has enabled Paytm to sustain growth and improve profitability.
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 will fight this move at every step.
The Wrestling Federation of India has appointed three foreign coaches and a High Performance Director to enhance national camps in preparation for the Asian Games and the 2028 Olympics.
A BJP politician in Bhadohi, Uttar Pradesh, has filed a police complaint alleging he was defrauded of 50 lakh in a land deal. Police have registered a case and are investigating the matter.
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
The only thing that might make the BJP stop trying to isolate Muslims completely will be if substantial numbers of the community vote for the party that flaunts its animosity towards it, notes Jyoti Punwani.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
A special CBI court has upheld the framing of charges against a former Narcotics Control Bureau official accused of cheating the bureau by claiming subsistence allowance while suspended, despite working for three private companies.
The CBI has arrested five individuals and conducted searches across India in connection with the NEET UG paper leak case. Protests have intensified, and calls for the Education Minister's resignation have grown louder. Political parties are trading blame, and the Supreme Court is considering a plea for an overhaul of the National Testing Agency.
A special court in Mumbai has denied Indrani Mukerjea, an accused in the Sheena Bora murder case, permission to travel to Spain and the United Kingdom, citing concerns about her being a flight risk and the trial nearing its conclusion.
A Delhi court granted bail to a former accounts officer accused of swindling more than 2 lakh Swiss francs from India's Permanent Mission in Geneva to fund his crypto-gambling ventures.
Paytm (One 97 Communications Ltd) has stated that the Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company. The fintech firm clarified it has no material business arrangements or exposure with the banking entity, which operates independently.
'India's security challenges are no longer confined to the Line of Control or the Line of Actual Control.'
'They also span cyber networks, economic systems, information warfare, technology ecosystems, maritime routes, and internal social cohesion.'
'At the first sign of real trouble, that money will move. There will be a run.'
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
The Education Ministry will focus on training teachers in the use of Artificial Intelligence tools over the next three to four months to support classroom teaching, lesson planning and student assessment, a senior official said.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
Indian equities on Dalal Street saw volatility as global market trends and weak rupee impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 5, 2026.
Indian stock market indices Sensex and Nifty experienced a decline in early trade due to surging crude oil prices and ongoing geopolitical uncertainty in West Asia. Foreign fund outflows further contributed to the negative sentiment.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
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