In recent years, China and Russia have pushed for de-dollarisation within BRICS, which India has resisted. One reason is that India does not want to hurt its relationship with the United States, and another is the fear of China controlling trade because the renminbi is considered the strongest currency in the bloc today.
This article details the quarter-century journey of BRICS, from its inception as an economic acronym by a Goldman Sachs economist to its current status as an expanded eleven-member international bloc. It highlights its growth, key historical moments, and the significance of its upcoming summit, particularly with Iran's renewed importance in discussions.
Non-banking financial companies (NBFCs) experienced a significant 68.5 per cent year-on-year growth in gold-backed credit in July 2026, while banks saw their gold loan growth moderate to 88.1 per cent from 136.4 per cent a year prior, according to RBI data.
The benchmark Sensex plummeted 813 points to a three-month low, with the Nifty settling below 23,450, as escalating tensions in West Asia drove crude oil prices above USD 100 per barrel, leading to widespread selling in IT, FMCG, financial services, and oil & gas shares.
Janmashtami is as much a feast for the eyes as it is a celebration of Lord Krishna.
The Closing Auction Session (CAS) on expiry day led to unprecedented volatility in the Nifty 50 and Sensex, causing the indices to swing wildly in just 14 minutes and raising concerns among traders about market manipulation and increased speculation.
UIDAI Chairman Neelkanth Mishra announced the extensive deployment of Artificial Intelligence to detect and counter fraud in Aadhaar, describing it as a "cat-and-mouse game." He highlighted the dramatic increase in daily Aadhaar authentications and the launch of the Aadhaar Face Authentication SDK and Sandbox to enhance security and ease of integration for ecosystem partners.
Chinese President Xi Jinping addressed the BRICS summit, urging the bloc to play a significant role in achieving peace and tranquillity in West Asia and the Gulf region. He highlighted BRICS' growth over two decades, its efforts in tackling global challenges, and its steadfastness in safeguarding the interests of the Global South. Xi called for opposing the Cold War mentality, strengthening multilateralism, and promoting cooperation in emerging domains like AI, as China prepares to chair the next summit.
The Indian government is reportedly planning to introduce a social media code of conduct for its officers and employees. This move aims to regulate their online activities, preventing the posting of personal opinions or content that glorifies their work on platforms like X, Facebook, and Instagram, addressing the current lack of specific guidelines.
Seven-time champions India are strong favourites against Bangladesh in the Women's Asia Cup semi-final. The match carries an underlying political subtext, adding to the intensity. India's dominant form, led by Smriti Mandhana and Shafali Verma in batting and Deepti Sharma and Renuka Singh in bowling, contrasts with Bangladesh's more resilient path to the semi-finals.
Former Pakistan Test captain Misbah-ul-Haq has criticised the differential treatment of foreign and local coaches in Pakistan cricket, stating that foreign coaches enjoy more authority and less scrutiny. He also highlighted the need for consistency, patience, and long-term planning, drawing comparisons with India's successful cricket development model.
'We have a very demanding electorate which expects us to do something. So we will have to do something which is a bit out of the ordinary while at the same time keeping in mind the risk factors.'
For five Mumbaikars who were teenagers or in their 20s during the 1980s, the decade was not a sepia-toned Instagram filter. It was their everyday life, they tell Rediff's Rishika Shah. And while they remember its limitations, what they seem to miss most is something technology can't recreate -- the unhurried warmth of human connection.
Indian companies are increasingly opting for demergers, with 29 deals valued at over $40 billion in 2025 alone, marking a 10-year high, as promoters and boards recognise that markets favour focused businesses over complex conglomerates.
'Ashaji has not left the human heart. That is her true mehfil. That is where she resides -- unfading, unending.'
Indian benchmark equity indices extended their losing streak for a fourth consecutive day, with the Sensex tumbling 417 points due to rising crude oil prices and a significant sell-off in IT stocks, impacting overall investor sentiment.
A report by 'Voter Adhikar Manch' has revealed that the number of excluded electors in Delhi's draft electoral roll under the Special Intensive Revision (SIR) exceeded the winning margin in 68 of 70 Assembly constituencies in the 2025 polls. The audit found over 47 lakh electors marked as absent, shifted, dead, or duplicate, raising serious questions about the integrity of the electoral process and the accuracy of voter lists.
Fintech firm PhonePe has signed a Memorandum of Understanding (MoU) with the Ministry of Electronics and Information Technology (MeitY) to integrate its enterprise data intelligence platform, PulsePro, into the PM GatiShakti framework. This collaboration aims to provide granular, hyperlocal insights for national infrastructure planning, economic analysis, and holistic urban and rural development.
Shares of HDFC Bank rose nearly 3 per cent after its Managing Director and Chief Executive Sashidhar Jagdishan decided not to seek reappointment after his current term concludes on October 26.
Prime Minister Narendra Modi employed Gen Z-friendly phrases like "OG" and referenced the film 'Dhurandhar' during his address at Delhi University's Shri Ram College of Commerce. This move, 13 years after a previous impactful speech at the same venue, is part of a broader strategy by the BJP to connect with younger audiences, contrasting India's past challenges with its current global standing.
Bollywood's divas glam up August with unusual glamour.
Hundreds of students at a government residential school in Unnao, Uttar Pradesh, staged a protest against alleged poor-quality food, inadequate drinking water, teacher shortages, and the principal's behaviour. The demonstration, part of a recent trend of "Gen alpha protests" in the state, briefly disrupted traffic before officials intervened and assured the students that their grievances would be addressed, leading to a peaceful resolution.
East Zone pacers Mohammed Shami and Mukesh Kumar chipped away at the wickets to leave South Zone tottering on 242/6 at stumps on Day 3, of the Duleep Trophy final.
Whether Apple unveils a foldable iPhone or simply builds on its existing line-up, September 9 will offer the first glimpse of how the company plans to begin its next chapter.
India's overall unemployment rate for individuals aged 15 and above decreased to 5.1 per cent in July 2026, down from 5.5 per cent in June 2026, according to the latest Periodic Labour Force Survey (PLFS) by the National Statistics Office (NSO).
Credit card spending in India has consistently topped Rs 2 trillion for three consecutive months, with July 2026 recording Rs 2.08 trillion, indicating a new normal for consumer expenditure, according to the latest RBI data.
Competition Commission of India (CCI) chairperson Ravneet Kaur has warned that the rapid adoption of artificial intelligence (AI) could intensify anti-competitive practices in digital markets, including self-preferencing, discriminatory pricing, and market manipulation. She highlighted the CCI's ongoing study into AI's impact on competition and stressed the regulator's role in fostering growth while preventing abuse of dominance.
"When you have more liquidity than good investment opportunities, there is no reason for MFs to sell a winning trade."
Ishan Kishan's stunning 2026 has thrown him into India's 2027 ODI World Cup plans -- and Rishabh Pant could be the biggest casualty. With the selectors already looking ahead to South Africa, Kishan's red-hot form has turned the wicket-keeper debate on its head.
'It requires new skilling, new ways of working, and new structures. That's the reality.'
Indian stock market benchmark indices closed higher, driven by strong performance in blue-chip bank shares and a positive trend in global markets, with hopes of progress in US-Iran peace negotiations also contributing to optimism.
The Bombay High Court has identified a worrying trend of foreign nationals infiltrating India, fraudulently acquiring documents like Aadhaar and PAN cards to claim Indian citizenship. The court highlighted serious gaps in inter-agency coordination and document verification, noting that some individuals have engaged in anti-national activities. It urged the Centre to amend the Aadhaar Act to facilitate tracing and deportation, and to establish procedures for dealing with human trafficking and border infiltration. The ruling came during a case involving an Afghan national who overstayed his visa and obtained fake documents to secure an Indian passport.
Gold futures experienced their seventh consecutive daily decline, falling to Rs 1.5 lakh per 10 grams, driven by escalating military exchanges between the US and Iran which have pushed oil prices higher and intensified concerns over inflation and potential interest rate hikes.
Despite a record-breaking opening day, Toxic has experienced a significant and disheartening decline in its box office collections.
A working paper by the Economic Advisory Council to the Prime Minister (EAC-PM) reveals a continuous decline in the rate at which foreign-owned firms invest in fixed assets in India since the FY20 peak, contrasting with a steady increase from Indian business groups.
English Premier League clubs set an unprecedented spending record of US$ 4.7 billion in the summer transfer window, significantly outspending other major European leagues.
More than half of the bills introduced in the 18th Lok Sabha have been passed by both Houses in the same session, a significant acceleration compared to previous terms, raising concerns about the time available for legislative scrutiny and stakeholder consultations.
Naomi Osaka and other top tennis players are raising concerns about the disruptive presence of social media influencers at the US Open. While acknowledging their potential to promote the sport, players like Osaka and Jessica Pegula highlight instances of disrespect and distraction during matches due to influencers staging photo shoots and creating content, calling for better management of their activities. Daniil Medvedev offers a more balanced view, seeing potential benefits if disruptions are avoided.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring a bearish trend in global equities, as escalating conflict in West Asia drove up crude oil prices and intensified investor concerns.
