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    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
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
    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
    Kotak Securities Earns Great Place to Work® Certification and Recognition Among India's Best Workplaces™ in Investments 2026
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    July 30, 2026
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    Workplace culture recognition highlights continued investment in employee wellbeing, inclusion, learning, collaboration and growth at a stockbroking firm.
    Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.

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      US foreign aid cuts leave funding gap that private donors are unlikely to fill

      March 7, 2025

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      Washington, Mar 7 (AP) Charitable organisations that relied on US foreign assistance are looking to different private and public donors now that the Trump administration suspended nearly all foreign aid contracts.

      Past giving patterns suggest such a lifeline is unlikely. The United States was the world's largest single funder of foreign aid, and neither other governments nor private foundations are in position to fill the gap, according to program executives, aid researchers and nonprofit workers.

      Experts in international development say that along with lost funding, the administration's dismantling of the US Agency for International Development deprives the field of political leadership and expertise that will be difficult to replace.

      The Trump administration initially froze foreign aid, but has since laid off most USAID employees while ending more aid contracts and grants. Trump adviser and billionaire Elon Musk, who is overseeing the administration's work to cut government spending and downside the federal workforce, has called USAID a criminal organisation.

      “The American people delivered a mandate for President Trump to root out inefficiencies across the federal government,” a State Department spokesperson said, adding that US Secretary of State Marco Rubio, was working “to ensure taxpayer resources are being used to make America safer, stronger, and more prosperous”.

      Experts agree the international humanitarian assistance system has essentially operated on the back of US benevolence. What seems like the sudden end of that era has shut down life-saving programmes around the world and triggered an existential crisis for the international development sector.

      Could private donors fill the gap? No, the numbers do not add up.

      The US accounted for $64 billion, or 28% of the $223 billion in official development assistance that governments provided in 2023, according to the Organisation for Economic Co-operation and Development. Also known as overseas aid, those funds could go directly to other countries, to humanitarian aid, to fund the work of the United Nations or to help refugees.

      Private organisations and individuals would essentially need to double their gifts to make up for USAID cuts: private donations that crossed borders totalled $70 billion in 2020, the most recent year of available data in the Global Philanthropy Tracker from Indiana University Lilly Family School of Philanthropy.

      Even if all private donors gave twice as much, coordinating their activities would be a major task, and it's unclear what organisation would take that on.

      Rob Nabors, the North America director for the Gates Foundation, described the scale of the challenges facing nonprofit groups that focus on global health.

      “There is no foundation — or group of foundations — that can provide the funding, workforce capacity, expertise, or leadership that the United States has historically provided to combat and control deadly diseases and address hunger and poverty around the world,” Nabors said in a statement.

      What about other countries? The world's richest countries agreed at the United Nations in 1970 to spend 0.7% of their gross national product on development aid. Few countries ever reached the target, and many now are pulling back from it.

      In recent years, other major donor countries announced cuts to their foreign assistance spending, including Sweden, the Netherlands and the United Kingdom. Budget constraints were cited for some of the reductions, and others came after the election of conservative governments, some of which see the aid as wasteful or not in line with their national interests.

      Susan Appe, a University at Albany associate professor of public administration and policy, has researched how nonprofits deal with the changing whims of international donor countries.

      She said local organisations may try to win funding from their own governments, earn income from their activities, increase the contributions of philanthropists in their own countries or to get support from diaspora communities.

      “These adaptive strategies or coping mechanisms do take time to cultivate,” Appe said, which is not possible when funds are suddenly cut off.

      What are the criticisms of foreign aid? The US cuts have brought new attention to efforts to reform how foreign aid works.

      Critics within the field saw dependence on major donors countries, mostly the US and in Europe, as one problem among many. They argued that foreign assistance was too inflexible, too top down, had too many intermediaries and never enough money.

      For example, there was a major push within international development circles to “localise aid". That meant giving more money directly to countries or local organisations instead of having governments make large grants to international nonprofits that subcontracted with smaller organisations.

      Nilima Gulrajani, principal research fellow at the London-based think tank ODI Global, has led a project over the last year to reimagine the foreign aid system.

      “Everyone knew a rethinking was needed. It was clear even before all these cuts,” Gulrajani said. “But it's now taking on an urgency that it didn't have, and unfortunately, the collateral damage in the process will be the most vulnerable” people.

      Through a series of dialogues called, “Donors in a Post-Aid World,” her project asked: Why should the richest countries give foreign aid at all? In October, a small group of participating donor countries, researchers and activists suggested paring down to the most basic arguments for foreign aid: focusing on extreme poverty, on shared interests like mitigating climate change and managing global health, and then reforming how development aid works.

      Given the cuts in Washington, progress in those areas now seems ambitious, Gulrajani said.

      “It is very unlikely that any of these donors are going to pick up or fill the holes that have been left,” she said of other wealthy countries. “Not only is that very hard to do given the size of the hole, but I also think there is a sense that the pullback from the US has just done untold damage to the sector overall.” Will the undoing of USAID provide a fresh start? Few critics of the foreign aid sector have welcomed the consequences of the Trump administration's cuts.

      For example, the nonprofit Unlock Aid has argued that too much US foreign aid spending goes through large contractors in Washington and that USAID was not doing enough to hold them accountable for achieving results.

      Unlock Aid has proposed more cooperation with beneficiary countries to allow them to help set priorities and stricter transparency requirements for grantees.

      “I think that those who care about foreign aid investments need to put together an inspiring vision for what a new future can look like that Americans can get behind,” said Walter Kerr, the co-executive director of Unlock Aid.

      In February, Unlock Aid was one of several organisations that launched emergency fundraisers to benefit organisations that lost USAID funding. It's already collected $600,000 and recommended initial grants.

      “It's very difficult to have a conversation about reform while life-saving programs that people depend on are interrupted," Kerr said. (AP) SCY SCY

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