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    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
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    Delhi govt to provide property Aadhaar cards; bring Land Records Bill: CM Rekha Gupta
    CCS discusses global security situation, supply chain constraints
    US economy grows a sluggish 1.5% second-quarter with inflation remaining stubbornly high
    Gold rises Rs 1,000 to Rs 1.48 lakh/10g on fresh retail buying
    DFS Launches Protection & Indemnity Insurance Product under Bharat Maritime Insurance Pool (BMIP)
    Investec Selects Infosys Finacle SaaS Platform on Microsoft Azure for Digital Banking Transformation
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    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
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    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
    Show AI Summary
    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
    Show AI Summary
    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
    July 30, 2026
    Show AI Summary
    Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
    The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
    July 30, 2026
    Show AI Summary
    Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
    Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.
    July 30, 2026
    Show AI Summary
    Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending.
    United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
    July 30, 2026
    Show AI Summary
    Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty.
    Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
    July 30, 2026
    Show AI Summary
    Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity.
    Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
    July 30, 2026
    Show AI Summary
    Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations.
    Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.

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      Trump expresses hope Russia's war in Ukraine nearing endgame as he meets with France's Macron

      February 25, 2025

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      Washington, Feb 24 (AP) President Donald Trump said he was hopeful that Russia's war in Ukraine was nearing an endgame as he met on Monday with French President Emmanuel Macron on the third anniversary of the invasion.

      Trump, in broad-ranging comments on the state of the conflict, said he believed Russian President Vladimir Putin would accept European peacekeepers in Ukraine to keep the peace.

      He also expressed hope that the conflict could end within weeks and that Ukrainian President Volodymyr Zelenskyy would soon come to the US to sign a deal to give the US access to Ukraine's critical minerals to help repay some of the $180 billion in American aid that's been sent to Kyiv since the start of the war.

      “It looks like we're getting very close,” Trump told reporters at the start of his bilateral meeting with Macron. He added that Zelenskyy could potentially visit Washington this week or next to sign the deal.

      Trump and Macron earlier on Monday participated in a virtual meeting with fellow Group of Seven leaders to discuss the war.

      The talks come at a moment of deep uncertainty about the future of transatlantic relations, with Trump transforming American foreign policy and effectively tuning out European leadership as he looks to quickly end the war in Ukraine.

      Ukraine is also looking for future security guarantees as part of any agreement. Trump, however, did not say whether the emerging deal would include American security guarantees.

      “Europe is going to make sure nothing happens,” Trump said.

      The anniversary - and talks - come at an unnerving moment for much of Europe witnessing a dramatic shift in American foreign policy with Trump's return to power.

      Trump also has made demands for territory - Greenland, Canada, Gaza and the Panama Canal - as well as precious rare earth minerals from Ukraine. Just over a month into his second term, the “America First” president has cast an enormous shadow over what veteran US diplomats and former government officials had regarded as America's calming presence of global stability and continuity.

      “We have necessity to have guarantees for solid peace,” Macron said at the start of the meeting. “This is very important moment for Europe as well.” Trump said he also believed Putin would accept European peacekeepers in Ukraine as part of a potential deal to end Russia's war there.

      “Yeah, he will accept it,” Trump said. “I have asked him that question. Look, if we do this deal, he's not looking for more war." Despite some notable hiccups, the military, economic and moral power of the United States has dominated the post-World War II era, most notably after the Cold War came to an end with the collapse of the Soviet Union. All of that, some fear, may be lost if Trump gets his way and the US abandons the principles under which the United Nations and numerous other international bodies were founded.

      “The only conclusion you can draw is that 80 years of policy in standing up against aggressors has just been blown up without any sort of discussion or reflection,” said Ian Kelly, a US ambassador to Georgia during the Obama and first Trump administration and now a professor at Northwestern University.

      Trump is set to hold a meeting Thursday with another key European leader, British Prime Minister Keir Starmer.

      The talks come after Trump shook Europe with repeated criticism of Zelenskyy for failing to negotiate an end to the war and rebuffing a push to sign off on a deal giving the US access to Ukraine's rare earth minerals, which could be used in the American aerospace, medical and tech industries.

      European leaders also were dismayed by Trump's decision to dispatch top aides for preliminary talks with Russian officials in Saudi Arabia without Ukrainian or European officials at the table.

      Meanwhile, the United States on Monday failed to get the UN General Assembly to approve its resolution urging an end to the war without mentioning Moscow's aggression. The assembly approved a dueling European-backed Ukrainian resolution demanding Russia immediately withdraw from Ukraine.

      On the minerals deal, Zelenskyy initially bristled, saying it was short on security guarantees for Ukraine. He said Sunday on X that “we are making great progress“ but noted that "we want a good economic deal that will be part of a true security guarantee system for Ukraine.” Trump administration officials say they expect to reach a deal this week that would tie the US and Ukrainian economies closer together - the last thing that Russia wants.

      It follows a public spat, with Trump calling Zelenskyy a “dictator” and falsely charging Kyiv with starting the war. Russia, in fact, invaded its smaller and lesser-equipped neighbour in February 2022.

      Zelenskyy, who said Sunday in response to a question that he would trade his office for peace or to join NATO, then angered Trump by saying the US president was living in a Russian-made “disinformation space." Confronting Trump might not be the best approach, analysts say.

      “The response to President Trump doing something to you is not to do something back right away. You tend to get this kind of reaction,” said retired Rear Adm Mark Montgomery, a senior fellow at the Foundation for the Defence of Democracies.

      Macron said he intended to tell Trump it's in the joint interest of Americans and Europeans not to show weakness to Putin during US-led negotiations to end the war in Ukraine. He also suggested he'll make the case that how Trump handles Putin could have enormous ramifications for US dealings with China, the United States' most significant economic and military competitor.

      “You can't be weak in the face of President Putin. It's not you, it's not your trademark, it's not in your interest," Macron said on social media ahead of the visit. "How can you then be credible in the face of China if you're weak in the face of Putin?'” Yet, Trump has shown a considerable measure of respect for the Russian leader. Trump said this month he'd like to see Russia rejoin what is now the Group of Seven major economies. Russia was suspended from the G8 after Moscow's 2014 annexation of Ukraine's Crimea region.

      Trump dismissed Zelenskyy's complaints about Ukraine and Europe not being included in the opening of US-Russia talks, suggesting he's been negotiating “with no cards, and you get sick of it”. (AP) SCY SCY

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