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    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
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    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
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    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
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    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
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    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.

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      Lithuanian president backs Trump's NATO defence spending goal amid ongoing Russian threat

      January 31, 2025

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      Vilnius (Lithuania), Jan 31 (AP) Securing an end to the fighting in Ukraine must take place with Kyiv's full involvement and come with more defense spending by regional countries to avoid any future Russian aggression, according to Lithuania's president.

      Gitanas Nauseda, the president of the Baltic coastal nation, told The Associated Press in an interview Thursday that a settlement negotiated without proper deterrent measures would allow Russia to consolidate its forces and prepare for further aggression in the region.

      Nauseda said that even when a ceasefire is reached in Ukraine, “you cannot believe that the intentions of Russia will be just to stop and do nothing”.

      “They will use this break in order to consolidate, to strengthen the military capabilities and to strike again in the future,” he told the AP in Vilnius. "And then the main question is, what will be the next target of Russia? Ukraine, maybe. Baltic countries, maybe.” Lithuania, which was occupied by the Soviet Union until 1990, is increasingly worried about the ongoing brutal war in Ukraine and the aggression of its neighbour Russia.

      Its geographical position — bordering Russia's Kaliningrad exclave to the west and Moscow's proxy Belarus to the east — make it vulnerable to a potential broader conflict launched from the Kremlin even after an eventual end to the war, Nauseda said.

      “You can never feel safe living in this part of the world, because we have this neighbor, and we will still have it after one hundred or two hundred years,” Nauseda said of Russia. “You always have the threat from the East, and you must be aware and take all the necessary precautionary measures in order not to be attacked.” “This is not individual country-by-country conflict," he added. "This is a challenge of Putin towards NATO." Unacceptable' if ceasefire plans exclude Kyiv The country recently became the first member of the NATO military alliance to commit to raising its defence spending to at least 5 per cent of its overall national economic output, as called for by US President Donald Trump.

      A longtime critic of NATO countries that do not spend more on defence, Trump has threatened he would not defend alliance members that fail to meet defense spending goals. While some European countries have signalled upping their spending to Trump's desired 5 per cent of GDP would be an economic burden, other nations on the alliance's eastern flank, including Lithuania, have greeted the proposal as a necessity.

      Before Trump took office earlier this month, questions over how he would engage with the war in Ukraine loomed over European countries as some speculated he would roll back the crucial military aid provided by the administration of President Joe Biden.

      But after his inauguration, Trump threatened to impose sanctions and tariffs on Moscow, and urged Russian President Vladimir Putin to “settle now and stop this ridiculous war".

      Nauseda said the new US administration must ensure that Kyiv is fully involved in negotiations to end the fighting, and that a resolution to the conflict should not be drawn up bilaterally between Moscow and Washington.

      “It would be unacceptable if the peace would be set behind the doors and without the involvement of Ukraine," he said. “Ukraine paid a very high price in this war. Ukraine lost many human lives. Infrastructure, facilities and houses are destroyed. The Ukrainian people deserve the right to set the conditions of this peace.” “I think that President Donald Trump understands that: no peace negotiations without Ukraine,” he added.

      Suspicions over damaged undersea cables Another security concern facing Lithuania and the region is a series of events that have damaged undersea cables and gas pipelines in the Baltic Sea. At least 11 Baltic cables have been damaged since October 2023. Most recently, a fibre optic cable connecting Latvia and the Swedish island of Gotland reportedly ruptured on Sunday.

      NATO launched a new mission dubbed “Baltic Sentry” earlier this month to protect the underwater infrastructure vital to the economic well-being of the region. Although cable operators note that sub-sea cable damage is commonplace, the frequency and concentration of incidents in the Baltic have heightened suspicions that damage might have been deliberate.

      To address those concerns, Nauseda said, “It is time for us to show some muscle.” “NATO and the EU should take more responsibility in surveying the Baltic Sea, bringing additional maritime capabilities to prevent such incidents in the future,” he said.

      Some politicians in Lithuania have objected to the country raising its military expenditures, already among the highest relative to GDP in the 32-member NATO alliance.

      But Nauseda said Lithuania must show that it can be responsible for its own defence.

      “This is an absolutely clear priority for this country, as a frontline country, that we have to spend more,” he said. "Of course, we can rely on the support of our allies in NATO. But it would be naive to expect that somebody will care about our security if there will be clear indications that we are not able to defend ourselves.” (AP) PY PY

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