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    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
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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
    Rupee falls 3 paise to close at 95.40 against US dollar
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
    Show AI Summary
    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
    Show AI Summary
    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.
    August 4, 2026
    Show AI Summary
    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
    Show AI Summary
    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.

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      Survivors still being found from Myanmar earthquake, but hopes begin to fade as deaths exceed 2,700

      April 2, 2025

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      Bangkok, Apr 2 (AP) Rescue workers saved a 63-year-old woman from the rubble of a building in Myanmar's capital on Tuesday, but hope was fading of finding many more survivors of the violent earthquake that killed more than 2,700 people, compounding a humanitarian crisis caused by a civil war.

      The fire department in Naypyitaw said the woman was successfully pulled from the rubble 91 hours after being buried when the building collapsed in the 7.7 magnitude earthquake that hit midday Friday. Experts say the likelihood of finding survivors drops dramatically after 72 hours.

      Death toll numbers forecast to increase The head of Myanmar's military government, Senior Gen. Min Aung Hlaing, told a forum for relief donations in Naypyitaw that 2,719 people have now been found dead, with 4,521 others injured and 441 missing, Myanmar's state MRTV television reported.

      He said Friday's earthquake was the second most powerful in the country's recorded history after a magnitude 8 quake east of Mandalay in May 1912.

      The casualty figures are widely expected to rise. The earthquake hit a wide swath of the country, leaving many areas without power, telephone or cell connections and damaging roads and bridges, making the full extent of the devastation hard to assess.

      Most of the reports so far have come from Mandalay, Myanmar's second-largest city, which was near the epicenter of the earthquake, and Naypyitaw, the capital.

      “The needs are massive, and they are rising by the hour,” said Julia Rees, UNICEF's deputy representative for Myanmar.

      Myanmar's fire department said 403 people have been rescued in Mandalay and 259 bodies have been found so far. In one incident, 50 Buddhist monks who were taking a religious exam in a monastery were killed when the building collapsed, and 150 more are thought to be buried in the rubble.

      Structural damage is extensive The World Health Organisation said more than 10,000 buildings overall are known to have collapsed or been severely damaged by the quake.

      The earthquake also rocked neighbouring Thailand, causing a high-rise building under construction to collapse and burying many workers.

      Two bodies were pulled from the rubble Monday and another was recovered Tuesday, but dozens were still missing. Overall, there were 21 people killed and 34 injured in Bangkok, primarily at the construction site.

      In Myanmar, search and rescue efforts across the affected area paused briefly at midday Tuesday as people stood for a minute in silent tribute to the dead.

      Relief efforts moving at a sluggish pace Foreign aid workers have been arriving slowly to help in the rescue efforts, but progress lagged due to a lack of heavy machinery in many places.

      In one site in Naypyitaw on Tuesday, workers formed a human chain, passing chunks of brick and concrete out hand-by-hand from the ruins of a collapsed building.

      The state Global New Light of Myanmar newspaper reported Tuesday that a team of Chinese rescuers saved four people the day before from the ruins of an apartment complex. They included a 5-year-old and a pregnant woman who had been trapped for more than 60 hours.

      It also reported that two teenagers were able to crawl out of the rubble of the same building using their cellphone flashlights to help guide them. Rescue workers were then able to use details from what they told them to locate their grandmother and sibling.

      International rescue teams from several countries are on the scene, including from Russia, China, India, the United Arab Emirates and several Southeast Asian countries.

      A small US Agency for International Development disaster assessment team arrived Tuesday to determine how best to respond given limited US resources due to the slashing of the foreign aid budget and dismantling of the agency as an independent operation.

      A US official said the three-person team had waited for visas before making the trip from neighboring Thailand following a weekend decision to provide $2 million in emergency assistance to Myanmar. The official spoke on condition of anonymity because the team's arrival has not yet been publicly announced.

      Aid pledges pouring in as officials warn of disease risk Meantime, multiple countries have pledged millions in assistance to help Myanmar and humanitarian aid organizations with the monumental task ahead.

      Even before the earthquake, more than 3 million people had been displaced from their homes by Myanmar's brutal civil war, and nearly 20 million were in need, according to the UN.

      Many were already lacking in basic medical care and standard vaccinations, and the destruction of water and sanitation infrastructure by the earthquake and the movement of people into overcrowded shelters raises the risk of disease outbreaks, warned the UN's Office for the Coordination of Humanitarian Affairs.

      “Vulnerability to respiratory infections, skin diseases, vector-borne illnesses such as dengue fever, and vaccine-preventable diseases like measles is escalating,” OCHA said in its latest report.

      The onset of monsoon season also a worry Shelter is also a major problem, especially with the monsoon season looming.

      Since the earthquake, many people have been sleeping outside, either because homes were destroyed or out of fear of aftershocks.

      Civil war complicates disaster relief Myanmar's military seized power in 2021 from the democratically elected government of Aung San Suu Kyi, sparking what has turned into significant armed resistance and a brutal civil war.

      Government forces have lost control of much of Myanmar, and many places were dangerous or impossible for aid groups to reach even before the quake.

      Military attacks and those from some anti-military groups have not stopped in the aftermath of the earthquake, though the shadow opposition National Unity Government has called a unilateral ceasefire for its forces.

      The NUG, established by elected lawmakers who were ousted in 2021, called for the international community to ensure humanitarian aid is delivered directly to the earthquake victims, urging “vigilance against any attempts by the military junta to divert or obstruct humanitarian assistance," saying that could have “devastating consequences.” The ceasefire plan for the armed wing of the NUG, called the People's Defense Force, would have little effect on the battlefield, but could draw more international condemnation of continuing operations by the military, including air attacks reported by independent media.

      A second armed opposition group, a coalition of three powerful ethnic minority guerrilla armies called the Three Brotherhood Alliance, announced Tuesday that it would also implement a monthlong unilateral ceasefire.

      However, Min Aung Hlaing seemed to reject implementing a ceasefire, saying in his speech on Tuesday that the military will continue to take necessary defensive measures against some ethnic armed groups that were currently not carrying out combat operations, but were conducting military training, which he said amounted to hostile action.

      It wasn't immediately clear whether the military has been impeding humanitarian aid. In the past, it initially refused to allow in foreign rescue teams or many emergency supplies after Cyclone Nargis in 2008, which resulted in well more than 100,000 deaths. Even once it did allow foreign assistance, it was with severe restrictions.

      In this case, however, Min Aung Hlaing pointedly said on the day of the earthquake that the country would accept outside help.

      Tom Andrews, a monitor on rights in Myanmar commissioned by the UN-backed Human Rights Council, said on X that to facilitate aid, military attacks must stop.

      “The focus in Myanmar must be on saving lives, not taking them,” he said. (AP) ARD ARD

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