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    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
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
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    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
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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
    India's Market Opportunity is Growing, and the Trade is Taking Notice
    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
    Currently nine trade disputes pending against India under WTO rules: Govt
    MNLU Mumbai Launches MBA in Entrepreneurship & Digital Business Law
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    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
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    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
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    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
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    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
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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.
    August 4, 2026
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    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
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    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
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    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.
    August 4, 2026
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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.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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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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      Plans to celebrate America's 250th anniversary were underway. Then came federal funding cuts

      April 14, 2025

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      Washington, Apr 14 (AP) Community celebrations being planned to commemorate the nation's 250th anniversary next year are at risk of being significantly scaled back or cancelled because of federal funding cuts under President Donald Trump's administration, according to multiple state humanities councils across the country.

      The councils have been working on programming for America250, an initiative marking the milestone anniversary of the signing of the Declaration of Independence in 1776. But the Republican administration's deep cost-cutting effort across the federal government has led the National Endowment for the Humanities to cancel its grants for state humanities councils.

      That has left them with less money for programming to plan for the celebration, ranging from themed K-12 school curriculums to special events at public libraries.

      “I cannot imagine how we're supposed to have a national commemoration that's meaningful for people where they live without the humanities being supported,” said Gabrielle Lyon, executive director of Illinois Humanities, the state's humanities council.

      “What is it going to mean for small towns and rural communities who were expecting the possibility of having grants to do special exhibits, special commemorations, their own programmes, and speakers and performers? All of that is now extremely tenuous. And those are exactly the kinds of things people have been looking forward to." Trying to reshape history The head of Washington state's humanities council said the NEH funding cuts appeared at odds with Trump's focus on the commemorations.

      Earlier this year, the president signed an executive order creating a White House task force to plan a “grand celebration worthy of the momentous occasion of the 250th anniversary of American Independence”.

      “The organisation that's positioned to do that for America is the National Endowment for the Humanities,” said Julie Ziegler, CEO and executive director of Humanities Washington.

      The White House and the NEH did not respond to requests for comment.

      America250, the initiative established by Congress to help orchestrate the commemorations, did not comment for this story.

      The humanities funding cuts come as Trump has targeted cultural establishments from the Smithsonian Institution to the Institute of Museum and Library Services in executive orders.

      The moves are part of his goals to downsize the federal government and end initiatives seen as promoting diversity, equity and inclusion. The order directed at the Smithsonian, for example, said it has “come under the influence of a divisive, race-centred ideology”.

      To comply with the orders, federal agencies have scrubbed images and information designated as DEI material from websites pertaining to certain parts of American history. That ranges from a webpage highlighting baseball trailblazer Jackie Robinson's military service to the National Park Service removing content about Harriet Tubman and the Underground Railroad. Both were restored after a public outcry.

      “I think that what's happening is the administration is trying to shape the history that we're going to tell in a way that's unprecedented,” said James Grossman, executive director of the American Historical Association.

      “The expertise of professional historians is being set aside in favor of a narrow, ideologically driven idea of the American past.” DOGE places 80 per cent of NEH staff on leave State humanities councils across the country have been discussing how to present the myriad histories that make up the US for the 250th commemoration events. But leaders of those councils say the loss of money from the National Endowment for the Humanities means some events are now unlikely to take place.

      The NEH is a federal agency that awards money appropriated by Congress to a variety of recipients, including state humanities councils, museums, universities and historic sites. The money supports educational programmes, research and preservation, among other things.

      This month, the Trump administration's Department of Governmental Efficiency, overseen by billionaire Trump adviser Elon Musk, placed roughly 80 per cent of NEH staff members on administrative leave, according to the Federation of State Humanities Councils.

      The NEH also sent letters to state humanities councils across the country saying their federal grants had been terminated. The halt in funding came during the middle of the fiscal year for thousands of organizations and is causing widespread changes in their programmes, including planning for the 250th anniversary.

      Heartbreaking' budget cuts Georgia Humanities, the state's humanities council, has been planning various events for the 250th anniversary, said president Mary McCartin Wearn.

      They include a statewide “digital book club" in partnership with the state's public library service, a program for speakers to travel across the state to give lectures and presentations, and a Smithsonian Institution program known as Museum on Main Street, which brings travelling exhibits to small towns and rural areas.

      But the council has now lost USD 740,000 in federal funding that had been awarded to it, placing those programmes in jeopardy, said McCartin Wearn, who has been fielding calls and emails from people asking about the status of their programming for the anniversary events.

      “It's really something that is heartbreaking, because it is a moment for reflection about who we are and who we want to be,” she said.

      Adam Davis, executive director of Oregon Humanities, said his state had already run trainings at rural libraries and begun conversations about “freedom, equality, how we remember key events, why we monumentalise or memorialize big things, and how we should do that”.

      “You can celebrate the 250th by having a commercial at the Super Bowl and waving a big flag," Davis said.

      "You could also do things like get community members talking to each other about the core values in the country and what we hope for, and you can build trust and strengthen the fabric of our democracy.” Without the funding, he said, “the scale is going to be quite different”.

      A diminished telling of the nation's history Miranda Restovic, president and executive director of the Louisiana Endowment for the Humanities, said the state's role in the nation's history makes the 250th anniversary “a really wonderful opportunity”.

      However, the funding cuts, which amount to USD 600,000 this fiscal year, put her organisation in “contingency planning mode rather than continuing to think creatively about how we celebrate that important moment for our nation and our history”.

      In a state that has shaped American history, cuisine and culture, the group's plan for the 250th anniversary was to “nudge” people around the state to design programs that would show off the distinct flavours of their communities.

      “We were planning to lean into us as a grant maker and support local initiatives that celebrated the 250th so that people can tell their own story," Restovic said. "We are likely not going to be able to do that.” Brenda Thomson, executive director of Arizona Humanities, said she had been imagining dramatic readings of the Bill of Rights, theatre productions, parades, book readings and festivals as activities that communities would be putting on “with a heightened sense of pride” for the 250th anniversary.

      She said the USD 1 million cut to her organization will mean curtailing those activities in a way that will not allow the telling of the nation's full story. She lamented what would be lost.

      “How do you know what you're doing if you don't know where you came from," she said. (AP) PY PY

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