When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
The rupee plunged to a fresh low of 93.72 against the dollar on Friday, falling 1.15 per cent in a single session - its sharpest one-day decline since February 24, 2022 - as elevated crude oil prices and strong dollar demand from oil-marketing companies and foreign portfolio investors (FPIs) weighed on the currency.
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
Rahul Gandhi accuses the government of compromising India's energy security by allowing the US to dictate oil supply relationships, raising concerns about the impact of global conflicts on India's energy access.
Opposition MPs are criticising Lok Sabha Speaker Om Birla, alleging bias and suppression of their voices in parliamentary proceedings, raising concerns about democratic rights and impartiality.
Lok Sabha Speaker Om Birla addressed the House, reaffirming his commitment to impartiality and adherence to parliamentary rules and regulations following a motion seeking his removal.
The call came before Iran's new supreme leader Mojtaba Khamenei vowed vengeance and urged citizens to continue their fight against the attacks by US and Israel.
Union Minister Kiren Rijiju criticizes the behavior of opposition MPs in the Lok Sabha, alleging disruptive conduct and disrespect towards the Prime Minister and the House's dignity.
United States President Donald Trump on Friday signalled the US intention of going all out in its campaign against Iran's Islamic regime, warning Iran to watch out for what would happen today and saying that the US was winning the conflict despite what reports claimed.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Investors with a 6 to 12 month horizon may consider them. They should align their holding period with the fund's maturity profile and prefer schemes with a lower expense ratio.
Political observers said the announcement assumes significance as the state prepares for the assembly elections, with political parties stepping up outreach to various community groups.
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
Union Home Minister Amit Shah is expected to respond to the debate on the no-confidence motion against Lok Sabha Speaker Om Birla, following allegations of partisan conduct. The motion, moved by opposition members, questions Birla's impartiality and handling of House proceedings.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Opposition members in Lok Sabha have submitted a notice to move a resolution seeking the removal of Speaker Om Birla, citing concerns over impartiality and the disallowing of opposition voices.
Parliamentary Affairs Minister Kiren Rijiju strongly defended Lok Sabha Speaker Om Birla against a no-confidence motion, accusing the Congress party of attacking constitutional institutions and undermining parliamentary democracy.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
BJP's women MPs have requested Lok Sabha Speaker Om Birla to take strict action against opposition MPs for disruptive behavior in Parliament, including protests that prevented Prime Minister Modi from addressing the House.
Rijiju, however, did not specify when and who will give notice for privilege motion against Gandhi. It is believed that someone from treasury benches in the Lok Sabha will do so.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
The Lok Sabha is set to debate a motion seeking the removal of Speaker Om Birla, a rare event where he will be seated among members as the House considers allegations of partisan conduct.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
'The entire US ecosystem built over decades at the bases in the Gulf region, especially the UAE, costing trillions of dollars have been decimated, dealing a mortal blow to the US Central Command's war capability,' points out Ambassador M K Bhadrakumar.
The Lok Sabha Secretariat defends Speaker Om Birla's concerns regarding Prime Minister Narendra Modi's safety amidst opposition protests and disruptions in the House.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
'Even if it is defeated and the Speaker remains, the Opposition parties that have lost faith in his impartiality will continue to have that feeling.' 'If the Speaker reflects on this and tries to be more neutral, more impartial, more objective in his conduct -- then one can say the resolution had a salutary effect. That would be the best outcome.'
The rupee witnessed its worst single-day decline in around two months since November 21, 2025, due to demand for dollars among importers, said dealers. The maturing short positions in the non-deliverable forwards market further weighed on the local currency.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
Rahul Gandhi said that had an INDIA Bloc government negotiated the trade agreement with the US, it would have told US President Donald Trump that he should treat India as an equal.
The Speaker thanked Modi for acceding to his request and avoiding unpleasant scenes in the Lok Sabha by not coming to the House on Wednesday.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
Opposition members in the Bihar legislative council were suspended and evicted after demanding an apology from Chief Minister Nitish Kumar for allegedly using foul language against their leader Rabri Devi, leading to a day of disruption and accusations from both sides.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The prime minister is now expected to speak on Thursday in the Rajya Sabha, where the debate on the Motion of Thanks on the President's Address has taken place without any disruption.
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