India's foreign exchange reserves increased by USD 7.26 billion to USD 674.193 billion for the week ending July 3, as reported by the Reserve Bank of India. This surge follows a previous week's drop and comes after Prime Minister Narendra Modi's appeals to conserve forex.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud involving investments made by the Life Insurance Corporation of India (LIC). Anil Ambani has denied any wrongdoing. The LIC alleges criminal conspiracy, misrepresentation, and fraudulent diversion of funds.
Shapoorji Pallonji Mistry's statement will be watched closely against the backdrop of the listing battle as well as the Tata leadership contest, with veto votes being cast over the reappointment of N Chandrasekaran as chairman of Tata Sons for a third term.
The Supreme Court has questioned the Election Commission's decision to allot the Shiv Sena's bow-and-arrow symbol to the Eknath Shinde faction, asking if the possibility of denying the symbol to both factions was adequately considered. The court also raised concerns about using legislative majority as a test while disqualification proceedings against MLAs were pending. The Shinde faction argued for the validity of the legislative majority test, citing significant vote share and legal precedents.
Activist Manoj Jarange announced an indefinite hunger strike in Mumbai from September 19 for Maratha reservation in jobs and education. He will lead a march from September 15, covering various districts before reaching Azad Maidan. Jarange urged peaceful protest and accused the government of inaction on caste certificates, while the Bombay High Court upheld the right to protest. The core demand is for Marathas to be included in the OBC category via Kunbi records, a move opposed by existing OBC groups.
India's wholesale price-based inflation (WPI) increased to 9.92 per cent in August, up from 9.78 per cent in July, primarily due to rising prices across food, manufactured items, and fuel and power sectors.
'Nitishji as CM never supported the UCC and publicly expressed his strong reservations over UCC.'
Maratha reservation activist Manoj Jarange has agreed to take water and saline treatment but vowed to continue his indefinite fast until all demands for Maratha reservation and Kunbi certificates are met. His health is deteriorating, prompting concerns from doctors and appeals from authorities. Jarange criticised the state government and mediating ministers, alleging political infighting and a lack of serious engagement on the issue.
The Indian rupee experienced its sharpest single-day decline in eight weeks, settling at 94.83 per dollar, primarily due to escalating crude oil prices and persistent risk-off sentiment driven by heightened geopolitical tensions and limited foreign inflows.
RBI Deputy Governor S C Murmu stated that the introduction of merchant discount rate (MDR) on UPI transactions is unlikely to cause a shift back to cash, despite some concerns, emphasising that MDR will help the payments ecosystem recover costs.
Violent protests erupted in Manipur's Kangpokpi district after seven Kuki villagers were allegedly detained by security forces. Protesters blocked roads and clashed with forces, leading to injuries. The villagers were later released, but a Meitei women's organisation subsequently staged a sit-in demanding the release of Meitei village volunteers.
National selectors are set to convene in New Delhi to finalise India's ODI and T20I squads for the upcoming home series against West Indies, with Rishabh Pant's potential white-ball return and Hardik Pandya's fitness being the primary discussion points.
BJD MP Santrupt Misra has voiced strong concerns over the Centre's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, arguing that the government or large financial institutions could easily absorb the costs of maintaining the digital payment network instead of burdening merchants and consumers.
Maratha quota activist Manoj Jarange has accused the Maharashtra government of conspiring to kill him and suppress his agitation, following Mumbai police's denial of permission for his indefinite hunger strike from September 19. Jarange stated he would proceed with the march to Mumbai despite the ban.
On Thursday, September 10, Jammu and Kashmir Police along with the Central Reserve Police Force, conducted a cordon and search operation in the Batamaloo area of Srinagar.
Economists widely anticipate the Reserve Bank of India's Monetary Policy Committee will increase the repo rate by 50 basis points, likely split between the October and December meetings, as retail inflation is projected to peak at 6.1 per cent in the third quarter, exceeding the RBI's tolerance limit.
The challenge for India lies in navigating complex landscape to its best advantage. The BRICS Summit will test its navigation skills, asserts former foreign secretary Shyam Saran.
India's foreign exchange reserves saw a substantial decline of USD 9.985 billion, reaching USD 671.625 billion for the week ended June 12, primarily driven by a sharp decrease in gold reserves, according to the Reserve Bank of India (RBI).
A special NIA court in Chhattisgarh's Bastar district has sentenced all 10 convicts in the 2013 Jhiram Valley Maoist attack to death. The attack, which occurred on May 25, 2013, resulted in the deaths of 29 people, including prominent Congress leaders.
The Delhi Police have urged a court to sentence former AAP councillor Tahir Hussain and four others to death for the brutal murder of IB officer Ankit Sharma during the 2020 Delhi riots, citing the 'heinous and brutal' nature of the crime and the 'savage and relentless assault' on the victim.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trade due to elevated crude oil prices, escalating US-Iran hostilities, and renewed concerns over a potential US interest rate hike.
Delhi's draft electoral rolls show a high percentage of voter exclusions, particularly in minority-dominated and SC-reserved constituencies. Overall, 33% of voters were deleted, with some areas like Okhla seeing up to 45% exclusions. The CEO office attributes most deletions to absent or shifted voters, who can re-register by September 30.
The Trinamool Congress has submitted new names and symbols to the Election Commission for the upcoming West Bengal bypolls, following an interim order that temporarily barred the party from using its original name and "flowers and grass" symbol due to an ongoing internal dispute and split. The party submitted its choices under protest.
A Fast-Track Special Court in Hoshiarpur has sentenced a 33-year-old migrant labourer, Nanke Yadav alias Radhe Sham, to death for the aggravated sexual assault and murder of a five-year-old boy. The court termed it a 'rarest of rare' case, with the death sentence subject to confirmation by the Punjab and Haryana High Court.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
Denied permission for his hunger strike in Mumbai, Maratha quota activist Manoj Jarange on Monday announced he would head to the Maharashtra capital alone on September 15 to stage a protest at Azad Maidan.
Harikesh Patel, a former member of the Patidar Anamat Andolan Samiti (PAAS), has been arrested by the Gujarat Anti-Terrorist Squad (ATS) for allegedly obtaining a second passport using forged documents. Patel had previously surrendered his original passport in connection with an ED money laundering case. He reportedly used the fraudulently obtained passport for international travel.
The Reserve Bank of India (RBI) is planning to extend tokenisation to various financial asset classes, building on its successful trials with certificates of deposit (CDs). This move aims to enhance the efficiency of issuance, trading, and settlement of financial assets, leveraging blockchain technology and wholesale Central Bank Digital Currency (CBDC) for atomic settlements.
India's foreign exchange reserves saw an increase of USD 963 million, reaching USD 672.587 billion for the week ending June 19, as reported by the RBI. This rise follows a previous week's drop. While foreign currency assets decreased, the value of gold reserves significantly increased, contributing to the overall growth.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
Suchika Tariyal, a 36-year-old Indian athlete, has secured India's first medal at the Aichi-Nagoya Asian Games by reaching the semifinals of the women's Traditional Mixed Martial Arts (MMA) 60kg event. Her journey began at age 12, driven by a desire for self-defence, leading her through successful careers in judo and jiu-jitsu before transitioning to MMA. She aims to convert her assured bronze into a gold medal.
Five rescued baby orangutans quarantined at Nandankanan Zoological Park in Bhubaneswar underwent extensive health checks, including X-rays and blood sample collection, to assess their condition and facilitate DNA testing. The health check-up was prompted after one primate developed a fever. Officials are identifying a suitable laboratory for DNA analysis, which is crucial for determining their origin and aiding an ongoing international wildlife smuggling investigation.
India's foreign exchange reserves have surged by $12.42 billion, reaching a new all-time high of $729.33 billion for the week ended August 21, driven by increases in foreign currency assets and gold reserves.
A US nonprofit policy think tank, the Federation of American Scientists (FAS), estimates India's nuclear arsenal at 190 warheads, including those for new missiles under production. The report highlights India's ongoing modernisation of its nuclear capabilities and adherence to a no-first-use doctrine, while also noting uncertainties in warhead designs and plutonium reserves.
Former England winger Raheem Sterling pleaded guilty to dangerous driving after being seen inhaling 'laughing gas' before crashing his Lamborghini. The incident occurred on the M25 and M3 motorways, with witnesses reporting erratic driving. Sterling also admitted possession of nitrous oxide and failing to provide a blood specimen. The case has been adjourned for a pre-sentence report, and he has been disqualified from driving.
Analysts predict that developments in the West Asia conflict, crude oil prices, and upcoming US inflation data will be the primary factors influencing the Indian stock market next week, alongside foreign investor activity and global market trends.
Japan hosted a vibrant opening ceremony for the Asian Games in Nagoya, showcasing its technological advancements and cultural heritage. The event, themed 'Harmonic Heart Beat', welcomed 11,000 athletes from 45 nations, despite prior logistical challenges.
The Gauhati high court has questioned the legality of the demolition of 21 dwelling units on private agricultural land in Goalpara, saying the action appeared prima facie illegal and unauthorised and may have involved misuse of the Disaster Management Act.
Donald Trump announced a landmark agreement with Venezuela, claiming it to be the 'biggest oil deal in world history'. The deal reportedly grants the US majority control over more than 65 billion barrels of Venezuela's proven crude oil reserves, aiming to double American oil reserves and lower domestic gasoline prices.
