'This rise in foreign exchange reserves was expected given the amount of FCNR(B) flow.'
India's foreign exchange reserves decreased by $4.92 billion to $780.78 billion for the week ending September 11, primarily due to a reduction in foreign currency assets and gold reserves, as per the latest RBI data.
Union Minister Ramdas Athawale stated that opposing reservation is unconstitutional and that the policy would be given up if casteism is eliminated. He highlighted the historical context of reservations for SC/ST and OBCs, and the Modi government's EWS quota. Athawale also criticised the opposition, praised government achievements, and discussed various welfare schemes and infrastructure projects in Chhattisgarh.
India's foreign exchange reserves have surged by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion for the week ended September 4, driven by the Reserve Bank of India's concessional forex swap initiatives.
'The day we start making rules purely along caste lines, we only divide society further. That's the conversation the government needs to have, and soon.'
Delhi Police detained several anti-reservation protesters at Jantar Mantar who were demanding that economic criteria be prioritised over caste for government support and reservation. The protest, mobilised via social media by 'Reservation Hatao Andolan', proceeded despite police denying permission for Jantar Mantar and offering Ramlila Ground as an alternative venue. Demonstrators called for a review of the existing reservation system and the introduction of a creamy-layer criterion.
Uttar Pradesh Deputy Chief Minister Brajesh Pathak met with students leading a "reservation reform" movement, assuring them that their demands would be presented to the BJP's central leadership and a Union minister. The movement, led by anti-reservation activists, seeks equal opportunities, while Samajwadi Party chief Akhilesh Yadav criticised the "reform" as a plot against the PDA community, asserting the permanence of reservation rights.
The New Delhi police has heightened security at Jantar Mantar in New Delhi to prevent an anti-reservation protest.
Ladakh has approved a four per cent reservation for outstanding sportspersons in Group 'C' government jobs, becoming the first Union Territory in India to implement such a fixed quota. This initiative aims to provide financial security and career opportunities for talented athletes, fostering an ecosystem where sporting excellence is recognised and rewarded.
India's foreign exchange reserves saw one of their largest weekly expansions, surging by USD 14.136 billion to reach USD 707.002 billion during the week ended August 7, according to the Reserve Bank of India.
The Supreme Court has reserved its decision on a plea by the Tamil Nadu government challenging a Madras High Court verdict. The High Court had ruled that individuals converting to Islam are not automatically entitled to reservation benefits under the Backward Class (Muslim) category solely based on their conversion.
The Centre has informed the Supreme Court that the 'creamy layer' principle, which excludes affluent individuals from reservation benefits, does not apply to Scheduled Castes (SCs) and Scheduled Tribes (STs). This stance opposes Public Interest Litigations (PILs) seeking to implement such a principle for SC/ST reservations and to direct the government to formulate policies for more equitable distribution of reservation benefits.
The American military's air-defence missile inventories, including Patriot and THAAD interceptors, are significantly depleted due to the ongoing five-month confrontation with Iran. A CSIS assessment reveals a steep drop in reserve stocks, raising concerns about the US's capacity to maintain Middle East operations and address other global security challenges. This depletion could force the US and its allies to take higher operational risks.
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.
India's foreign exchange reserves increased by USD 1.08 billion to USD 676.237 billion for the week ended July 17, primarily due to a significant rise in foreign currency assets, despite a drop in gold reserves.
It is important to understand that the rupee's appreciation, driven by the 2013 special swap scheme, reduced India's import costs for petroleum, oil, and gold, points out Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
Indian benchmark indices, Sensex and Nifty, closed nearly flat on Thursday, influenced by the US Federal Reserve's interest rate hike and indications of further monetary tightening. Despite some intraday gains, caution prevailed, with foreign institutional investors continuing to offload equities. Meanwhile, the National Stock Exchange of India's (NSE) mega initial public offering opened for subscription, garnering 39 per cent subscription on its first day.
Indian benchmark indices, Sensex and Nifty, saw an early rebound after significant losses, driven by value buying, though elevated oil prices and anticipation of the US Federal Reserve's policy decision tempered gains. Track Sensex, Nifty on September 16.
Indian benchmark indices, Sensex and Nifty, traded marginally higher in early trade despite the US Federal Reserve's recent rate hike and indications of further tightening, with the National Stock Exchange's much-anticipated Rs 22,569-crore IPO also opening for subscription.
Security forces in Arunachal Pradesh's Changlang district have seized 233 grams of suspected brown sugar, estimated to be worth Rs 46.60 lakh. Two individuals were arrested during the joint anti-narcotics operation conducted by Assam Rifles, Arunachal Pradesh Police, and CRPF. The contraband was found hidden in 21 soap cases.
Maratha quota activist Manoj Jarange has ended his 20-day hunger strike after discussions with a Maharashtra government delegation. He issued a three-month ultimatum, threatening to resume protests in Mumbai if demands for Maratha reservation, based on Kunbi lineage recognition, are not met. The government has assured action on historical gazettes to facilitate OBC benefits for Marathas.
Indian benchmark equity indices, Sensex and Nifty, rallied in early trade, driven by positive global market trends and easing crude oil prices, despite the US Federal Reserve's hawkish stance tempering overall sentiment. Track Sensex, Nifty on September 18.
IPL players' auction for the 2027 season is slated to be held in India, marking a return after three overseas editions, with league chairman Arun Dhumal expressing a strong desire for a domestic venue.
Maratha quota activist Manoj Jarange's crucial march to Mumbai for OBC reservation faces significant uncertainty as his health deteriorates amidst a hunger strike, prompting appeals from the Maharashtra government for dialogue and raising questions about the protest's continuation.
Maharashtra Chief Minister Devendra Fadnavis stated that the government would grant Maratha reservation only within constitutional limits and without impacting the share of other communities, amidst activist Manoj Jarange's ongoing hunger strike for OBC status for Marathas.
The Election Commission has issued an interim order preventing rival factions of the All India Trinamool Congress (AITC), led by Mamata Banerjee and Arup Roy, from using the party name and its "Flowers and Grass" symbol during the upcoming West Bengal by-elections. Both groups have been directed to submit preferred names and symbols by Friday morning for recognition and allotment for the bypolls, as the EC undertakes a substantive determination of the party dispute.
On Thursday, September 17, two suspected Pakistan-based Jaish-e-Mohammad terrorists were killed and a suspect was detained during an anti-terror operation in Jammu's Udhampur district.
The Boxing Federation of India (BFI) has announced its comprehensive selection policy for the 2028 Los Angeles Olympics. The policy outlines a four-stage qualification pathway, with medallists from the 2026 Asian Games directly qualifying for the 2027 World Boxing Championships, which serves as the first Olympic qualifier.
The Supreme Court has questioned the reliability of legislative majority as the sole determinant for political party ownership, especially when disqualification proceedings are pending against the very legislators forming that majority. This query arose during arguments concerning the Shiv Sena faction dispute between Eknath Shinde and Uddhav Thackeray.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 20,974 crore from Indian equities in September, driven by global uncertainties, higher US interest rates and bond yields, elevated crude oil prices, and a weakening rupee.
The Tamil Nadu government has appealed to the Supreme Court against a Madras High Court judgment. The High Court ruled that individuals converting to Islam cannot claim reservation under the Backward Class (Muslim) category solely based on conversion, striking down a state Government Order that allowed such benefits.
Maratha quota activist Manoj Jarange has proceeded towards Mumbai despite police denying permission for his protest at Azad Maidan. Jarange, who has been on a hunger strike for 17 days demanding OBC quota for Marathas, is travelling with a small group amid tight security, citing a Bombay High Court ruling that supports democratic agitation. He also alleged a conspiracy to kill him.
India's foreign exchange reserves surged by USD 11.475 billion to a new record high of USD 740.803 billion for the week ended August 28, driven by the RBI's concessional forex swap initiatives.
The Tata Sons board has voted to reappoint N Chandrasekaran as chairman for a third five-year term, a decision influenced by the Reserve Bank of India's rejection of the company's application to surrender its NBFC registration, which revives the prospect of a stock market listing.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
Quota activist Manoj Jarange has accused Maharashtra Chief Minister Devendra Fadnavis and cabinet colleague Radhakrishna Vikhe Patil of deceiving the Maratha community on the reservation issue, even as he accepted IV fluids on the 11th day of his indefinite hunger strike due to deteriorating health.
The Reserve Bank of India (RBI) has endorsed the introduction of a Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, which levies a 0.4 per cent fee on merchant payments above the threshold, aims to bolster the long-term sustainability and growth of India's digital payments ecosystem. The RBI clarified that person-to-person (P2P) transactions and small person-to-merchant (P2M) payments below Rs 2,000 will remain free for users, ensuring no direct charge on customers.
Former West Bengal Chief Minister Mamata Banerjee has filed a plea in the Supreme Court challenging the Election Commission's interim decision to freeze the Trinamool Congress' name and party symbol. The EC had allotted separate names and symbols to two rival TMC factions ahead of upcoming bypolls, a move Banerjee has strongly criticised as a "black day" for democracy.
Indian benchmark indices Sensex and Nifty rebounded on Wednesday, driven by value buying in banking stocks and select heavyweight counters, with the Sensex climbing 332.63 points and the Nifty ending above 23,200.
The Reserve Bank of India (RBI) has rejected Tata Sons' application to surrender its non-banking finance company (NBFC) licence, a decision that mandates a public markets listing for the conglomerate's holding company as it is classified as an upper-layer NBFC.
