The Indian government has approved the introduction of one billion polymer banknotes in Rs 10 and Rs 20 denominations for field trials, aiming to enhance durability. This move comes as the Finance Minister also addressed Parliament on declining retail inflation, GST reforms, and other fiscal measures taken to support the economy and household consumption.
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.
Shiromani Akali Dal chief Sukhbir Singh Badal sustained a minor injury to his right hand after being attacked with a kirpan by a Nihang member inside a gurdwara in Nanded, Maharashtra. The assailant has been arrested, and SAD leaders are demanding a CBI probe into what they term an intelligence failure.
Underlining that students are the "architects of India's future," President Droupadi Murmu on Friday said the government is taking comprehensive steps to reform public examinations to completely curb paper leaks and unfair means, making the system transparent, secure, and trustworthy.
A drone was recovered from an agricultural field in Samba district, Jammu and Kashmir, after a resident spotted it. The recovery follows an earlier detection of an unidentified flying object by the Army, which initiated jamming measures. Authorities suspect the recovered drone is the same object and have sent it for forensic examination to investigate its origin and potential cross-border involvement.
The World Bank's "World Development Report 2026" urges developing countries to adopt low-cost AI tools to accelerate progress in healthcare, education, and judicial services. The report highlights AI's potential to boost productivity and improve public services, while noting that jobs in high-income countries are more at risk from automation than those in developing nations.
Prime Minister Narendra Modi and NDA leaders reviewed India's progress in international sports and significant growth in youth employment opportunities at their weekly parliamentary meeting.
Natarajan Chandrasekaran, credited with stabilising Tata Sons after a boardroom coup and overseeing significant expansion, has announced his resignation as chairman, capping a nearly decade-long tenure marked by both successes and escalating tensions with the group's controlling charitable trusts.
The Centre has reviewed the monsoon situation, noting a reduced rainfall deficit and ongoing preparedness for the kharif season amidst El Nino concerns. A high-level meeting chaired by the Principal Secretary to the Prime Minister discussed measures across various sectors, emphasising continuous monitoring and coordinated action to mitigate potential impacts on agriculture, water resources, and essential commodities.
A Parliamentary Standing Committee on Commerce has urged the Indian government to swiftly conclude the proposed India-US Bilateral Trade Agreement (BTA), while ensuring India's interests are protected, recommending complete exemption for key export products like generic medicines and smartphones from future US tariff increases.
Prime Minister Narendra Modi, Union ministers and leaders of the National Democratic Alliance allies on Tuesday attended the ruling coalition's weekly meeting of parliamentarians, where the absence of three Nationalist Citizens Party of India (NCPI) MPs stood out amid signs of differences within the 20-member group of Trinamool Congress rebels over its association with the alliance.
In her address to the nation on the eve of the country's 80th Independence Day, the president stressed that just as government and society remain united to ensure national security, everyone must contribute through joint and concerted efforts to safeguard the present and future of students.
Public-sector banks (PSBs) have reported a substantial increase in non-interest income for Q1FY27, primarily driven by the sale of Priority Sector Lending Certificates (PSLCs) backed by their rapidly expanding gold loan portfolios. This strategy has allowed several lenders to book significant profits by exceeding priority sector lending targets.
'We have to pull 80 million workers out of agriculture and go back to where we were in 2014. That itself is going to be a huge task.' 'We have already lost time, and that is a catastrophe impending.''
Major bills, including those on women's reservation, delimitation, and the Foreign Contribution (Regulation) Act (FCRA), face an uncertain future in the ongoing Monsoon session of Parliament due to persistent opposition protests and a lack of consensus.
Maharashtra Congress on Tuesday branded deputy Chief Minister Sunetra Pawar a "gungi gudiya" (mute doll), drawing a sharp rebuttal from the Nationalist Congress Party, which asked if the Opposition party now endorses the infamous slur once hurled at former Prime Minister Indira Gandhi.
The Rajasthan High Court has expressed serious concern over rampant construction on Udaipur's ecologically sensitive hills, questioning the state's hill policies and demanding records of commercial project permissions. The court's observations stem from a petition challenging a hotel project and an interim report highlighting extensive hill cutting and inadequate policy formulation, potentially leading to a suo motu Public Interest Litigation.
A farmer in Maharashtra received a message indicating a one-paisa credit instead of the expected Rs 2,000 under the PM-Kisan scheme, causing confusion. The Agriculture Department later clarified it was a technical error and the full instalment had been successfully processed.
The India Meteorological Department (IMD) has predicted below-normal rainfall for India during the second half of the southwest monsoon season, specifically from August to September. This forecast indicates less than 94 per cent of the Long Period Average (LPA) for the period. While July saw good rainfall activity due to low-pressure systems and the Madden-Julian Oscillation, the Southern Peninsula experienced significantly low rainfall and record high minimum temperatures.
Kerala Chief Minister V D Satheesan announced that the death toll from rain-related incidents has reached 15, with seven people still missing. He confirmed that the overall situation is under control, except for a few areas in Pathanamthitta, as the state intensifies rescue and relief operations. The CM detailed the deployment of rescue teams, functioning relief camps, and immediate compensation measures for victims and affected families, while also cautioning against rumours regarding dam water release.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Karnataka Chief Minister D K Shivakumar announced the establishment of India's first government-driven Artificial Intelligence University and an AI Hub in Bengaluru. This initiative aims to position Karnataka as a global leader in responsible AI innovation, fostering talent, research, and collaboration. The state seeks to become an AI-native state, leveraging AI to improve governance and daily life across various sectors.
HDFC Bank's board is actively discussing the appointment of its new managing director and chief executive officer (MD & CEO) as incumbent Sashidhar Jagdishan's three-year term concludes in October, with the Governance, Nomination and Remuneration Committee (GNRC) expected to finalise the process soon.
Bollywood superstar Salman Khan has initiated a multi-phase relief drive through his Being Human organisation and fan club in Assam, providing food, medicines, and essentials to families affected by devastating floods, with plans for long-term rehabilitation support.
Global technology giant Google has announced the selection of 20 Indian AI startups for its 2026 Google for Startups Accelerator programme, marking the 10th anniversary of its accelerator initiatives.
State-owned Bank of Baroda (BoB) reported a 72 per cent year-on-year (Y-o-Y) drop in net profit to 1,278 crore for Q1FY27 due to a $600 million out-of-court settlement related to NMC Health Plc. In contrast, Bank of India (BoI) saw its net profit rise by 36.23 per cent Y-o-Y to 3,068 crore for the same quarter, driven by healthy loan growth and improved asset quality.
The India Story adopts a very soap opera-like approach, piling on ham-fisted melodrama along with plenty of unevenness, sighs Sreeju Sudhakaran
The Indian government has defended its E20 ethanol blending programme, stating that extensive testing and field experience show no evidence of abnormal engine wear, corrosion, or reduced vehicle life, despite a potential 2-6% reduction in fuel economy.
The body of Vikram Rana, the last person missing after the July 7 landslide at the Anakkampoyil-Meppadi tunnel project site in Kalladi, Wayanad, Kerala, has been recovered. This brings the death toll to eight. A massive search operation involving multiple agencies led to the discovery of the construction manager's body, concluding the search efforts.
India is already a heavyweight in global farm trade in pockets such as rice exports, but experts are urging a pivot from a subsidy- and procurement-driven mindset to a productivity and nutrition strategy that still shields farmers from volatility.
Commercial banks in India recorded their highest credit growth in two years, accelerating to 18.6 per cent year-on-year by June 27, while also mobilising nearly 7 trillion in deposits, marking the third-highest fortnightly deposit growth in 29 years.
The Supreme Court has ruled that mere swear words, profanities, and vulgar expletives, however offensive, do not amount to obscenity under Section 294 of the Indian Penal Code. The court clarified that for an utterance to be considered obscene, it must be lascivious, appeal to prurient interests, and have the tendency to deprave and corrupt minds. This ruling came while hearing a plea challenging a high court order confirming a conviction under IPC Section 294.
After a subdued start, the southwest monsoon has gathered pace since the beginning of July, narrowing the cumulative rainfall deficit from nearly 30 per cent on June 30 to around 15 per cent as of July 8.
Prime Minister Narendra Modi lauded young Indian innovators for the country's first privately developed orbital rocket, Skyroot Aerospace's Vikram-1, which made India the third nation with private orbital launch capabilities. While praising the 28-year-old average age of the Skyroot team, Modi made a veiled remark about a "56-year-old young man," widely understood to be a dig at Congress leader Rahul Gandhi, who recently turned 56.
'The real shock is going to be from a deficient monsoon.'
Non-banking financial companies (NBFCs) in India saw their overall credit growth accelerate to 14.2 per cent year-on-year in May, primarily driven by significant increases in loans against gold jewellery and commercial real estate, according to recent Reserve Bank of India (RBI) data.
'This generation decides on their own what is good or bad for them.' 'They got an outlet to vent their anger against this government through CJP and they did that.' 'They felt how can the government control us or lathi charge us?'
Ranbir Kapoor has made a significant investment, purchasing 25.7 acres of land in Pune's scenic Mulshi taluka for over Rs 16.42 crore (Rs 164.2 million), underscoring a growing trend among celebrities to favour land banking for long-term real estate appreciation and development potential.
The Indian government has identified 111 districts as 'most vulnerable' to crop damage due to a 43 per cent monsoon deficit, driven by El Nino, which threatens kharif sowing. Agriculture Minister Shivraj Singh Chouhan stated that weak monsoon conditions are expected to persist until July 2, prompting contingency plans and recommendations for alternative, less water-intensive crops.
Mumbai has spent four centuries building folklore around its monsoon: The potholes, the delayed trains, the office debates about whether it will 'break' this week or next. It turns out the rain was always a market. Nobody had built the exchange for it until now!
