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    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
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    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
    India rises from 82nd to 57th in global rankings, in structural and pro-competitive reforms: Report by Competere Foundation
    Aadhaar enrolment in Manipur has reached 87-88 pc: Officials
    IndoStar Capital Finance Limited Q1FY27 Disbursements ₹ 1,235 crore up 44% vis-à-vis Q1FY26
    Global gold demand flat at 1,269 tonnes in June quarter, says WGC
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    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
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    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
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    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.
    July 30, 2026
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    Pro-competitive reforms strengthen market conditions through competition policy, investment review, trade facilitation, and reduced international regulatory barriers.
    Structural and pro-competitive reforms between 2010 and 2023 are assessed as reducing market distortions and strengthening competitiveness. The assessment covers property-rights protection, domestic competition and international competition, including the Goods and Services Tax, Insolvency and Bankruptcy Code, regulatory improvements and trade-facilitation modernisation. Further priorities include evidence-based competition policy, consumer-welfare review of sector-specific investment restrictions, and cooperation to address international regulatory barriers.
    July 30, 2026
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    Aadhaar enrolment access expands through a new service centre, with coordinated efforts focused on improving young children's coverage.
    Aadhaar enrolment in Manipur has reached approximately 87-88 per cent, with comparatively lower coverage among children aged 0-5 years. The first Aadhaar Seva Kendra in Imphal has been inaugurated to expand access to enrolment and Aadhaar-related services. The State Government is coordinating with welfare and health departments, hospitals and UIDAI to improve young children's enrolment, alongside services available through Deputy Commissioners' offices and authorised enrolment centres.
    July 30, 2026
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    Secured retail lending growth accompanied enhanced credit controls, digital lending processes, and branch expansion by a middle-layer non-banking finance company.
    IndoStar Capital Finance Limited, a middle-layer non-banking finance company registered with the Reserve Bank of India, reported growth in secured used-vehicle finance and micro loans against property for the quarter ended June 30, 2026. It reported higher disbursements, assets under management and net interest income, alongside a lower weighted average cost of funds. The company also stated that it strengthened underwriting, customer-selection filters, scorecards and early-warning systems, while advancing electronic lending processes and expanding its branch and micro-loans-against-property network.
    July 30, 2026
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    Gold demand trends show central bank buying and OTC investment offsetting weaker ETF and jewellery demand.
    Global gold demand remained broadly unchanged during the April-June quarter, with reduced gold exchange-traded fund, bar and coin investment offset in part by over-the-counter investment supported by Asian investors. Central banks and official institutions increased net additions to gold reserves, while high prices reduced jewellery volumes and encouraged demand for lighter products. Total supply was unchanged as increased mine production was offset by lower recycling. Investment is expected to drive future demand, while high prices may continue to constrain jewellery demand and recycling.

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      Francis changed church policy on death penalty, nuclear weapons but upheld it on abortion

      April 21, 2025

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      Vatican City, Apr 21 (AP) Pope Francis changed the Catholic Church's teaching in areas such as the death penalty and nuclear weapons, upheld it in others such as abortion, and made inroads with Muslims and believers who long felt marginalised.

      Where Francis, who died on Monday, stood on key issues: Abortion Francis upheld church teaching opposing abortion and echoed his predecessors in saying that human life is sacred and must be defended. He described abortion, as well as euthanasia, as evidence of today's “throwaway culture” and likened abortion to “hiring a hit man to resolve a problem”.

      But he didn't emphasise the church's position to the extent his predecessors did, and said women who had abortions must be accompanied spiritually by the church.

      Francis also allowed ordinary priests — not just bishops — to absolve Catholic women who had intentionally terminated a pregnancy.

      He didn't approve of attempts by US bishops to deny Holy Communion to President Joe Biden because of his abortion-rights stance, saying bishops should be pastors, not politicians.

      Abuse Francis' greatest scandal of his papacy was when he discredited Chilean sexual abuse victims by siding with a bishop whom they accused of complicity in the abuse.

      After realising his error, he invited the victims to the Vatican and apologised in person. He then brought the entire Chilean bishops conference to Rome where he pressed them to resign.

      In his most significant move, Francis defrocked former US Cardinal Theodore McCarrick after a Vatican investigation determined he abused minors as well as adults.

      Francis later passed church laws abolishing the use of pontifical secrecy and establishing procedures to investigate bishops who abuse or cover up for predator priests.

      But he was dogged by some high-profile cases where he seemed to side with accused priests.

      Benedict In 2013, Pope Benedict XVI resigned in the first such papal retirement in 600 years, and Francis was elected to replace him.

      With Benedict living on the Vatican grounds until his 2022 death, Francis said it was like having a “wise grandfather” at home, part of his belief the elderly have a wealth of experience to offer.

      There was friction at times, however, including when Benedict co-authored a book strongly backing priestly celibacy at the precise moment Francis was considering an exception to resolve a clergy shortage in the Amazon.

      He praised Benedict for humility and courage by setting a precedent for retired popes, although after the German-born pontiff died, Francis said the papacy should be a job for life.

      Capitalism Some conservative US commentators accused Francis of having Marxist sympathies, given his frequent denunciations of economic systems that “idolise” money over people and clear distaste for US-style capitalism.

      He called for a universal basic income, dignified wages and working conditions, and said that while globalisation had saved many from poverty, “it has condemned many others to die of hunger because it's a selective economic system”.

      “This economy kills,” he said of globalisation, defending his positions as those of the Gospel, not communism.

      Celibacy Francis upheld celibacy for Latin Rite priests even after bishops from the Amazon asked him to make an exception to allow married priests to address a shortage of clerics.

      Francis had long said the celibacy requirement could change, since it was not a matter of doctrine. But he said the debate was too politicized and that he didn't want to be the pope to take the step.

      China In 2018, Francis authorised a deal over bishop nominations in China to end a decades-long dispute and regularised the status of a half-dozen Chinese bishops who had been consecrated without papal consent.

      Details of the accord were never released, but his conservative critics bashed it as a sellout to communist China, while the Vatican defended it as the best deal it could get before Beijing closed the door entirely.

      Contraception Francis defended the church's opposition to artificial contraception, but he also said Catholics need not breed “like rabbits” and should instead practice “responsible parenthood” through approved methods.

      The church endorsed the Natural Family Planning method, which involves monitoring a woman's cycle to avoid intercourse when she is ovulating.

      At the same time, Francis suggested in 2016 that women threatened with the Zika virus — which was causing malformations in thousands of children at the time — could use artificial contraception because “avoiding pregnancy is not an absolute evil” in light of epidemics.

      COVID-19 Like the rest of humanity, Francis was grounded during COVID-19, prevented from travelling, celebrating Mass in public or presiding over audiences. He repeatedly urged the world to use the pandemic as a wake-up call showing the need to reset priorities and policies in favour of the most vulnerable.

      Francis strongly supported vaccination campaigns and demanded the poor have priority. The Vatican's doctrine office said it was morally acceptable to be vaccinated, even with shots that used cell lines from aborted fetuses in research and production processes, putting Francis at odds with conservatives who refused the shots on moral grounds.

      Death penalty Francis went beyond his predecessors and changed Catholic teaching to state that the death penalty is “inadmissible” in all cases, regardless of the severity of the crime.

      Francis also called life in prison without parole a “hidden death penalty” and solitary confinement a “form of torture”, saying both should be abolished.

      Divorce Francis divided the church by issuing an opening to divorced and civilly married Catholics to receive Communion.

      Church teaching holds that, without a church-issued annulment declaring the initial marriage invalid, these Catholics are committing adultery and thus cannot receive the sacrament.

      Francis first made it easier to get an annulment. Then, he didn't create a blanket admission to the sacraments to these Catholics without one, but in a footnote to his 2016 encyclical “The Joy of Love”, he suggested bishops and priests could accompany such couples on a case-by-case basis.

      Environment Francis became the first pope to use scientific data in a major teaching document by calling global warming a largely human-caused problem.

      In his 2015 encyclical “Praised Be”, Francis denounced a “structurally perverse” world economic system that exploits the poor and risks turning the Earth into an “immense pile of filth”.

      A 2023 update singled out the US for its emissions and warned the world was “nearing a breaking point”.

      He pressed the issue at a 2019 meeting of bishops from the Amazon and in his preaching on the coronavirus pandemic. While Francis pressed the ecological issue harder than his predecessors, many popes before him called for better care for God's creation.

      Indigenous peoples Francis made sweeping apologies for the “crimes” against Indigenous peoples during the colonial and post-colonial conquest of the Americas.

      He apologised in Bolivia in 2015 and again during a “penitential pilgrimage” to Canada in 2022 for the church's role in the forced assimilation of Indigenous children in church-run residential schools.

      The Vatican also formally repudiated the “Doctrine of Discovery”, theories backed by 15th century “papal bulls”, or charters, that legitimised the colonial-era seizure of lands and form the basis of some property laws today, even though it didn't rescind the bulls themselves.

      Francis also held up as a model economic system the Jesuit-run missions in Paraguay that brought Christianity and European-style education and economic organisation to the natives in the 17th and 18th centuries.

      He canonized the 18th century missionary Junipero Serra during his 2015 trip to the US over objections from some Native American groups who accused Serra of forced conversions, enslaving converts and helping wipe out Indigenous populations through disease.

      Islam Francis made significant progress in the Vatican's troubled relations with Islam by forging ties with Sunni and Shiite religious leaders and emphasising a shared commitment to peace, solidarity and dialogue.

      He signed a landmark document on the need for greater human fraternity with Sheikh Ahmed al-Tayeb, the grand imam of Al-Azhar, the seat of Sunni learning in Cairo.

      He was the first pope to visit both the Arabian Peninsula and Iraq, the birthplace of Abraham, a prophet important to Christians, Muslims and Jews. While in Iraq, he met with the country's top Shiite cleric and a revered figure in the Shiite world, Grand Ayatollah Ali al-Sistani.

      Latin Mass In one of his most controversial moves, Francis reversed Benedict and reimposed restrictions on celebrating the old Latin Mass.

      Francis said he had to act because the spread of the so-called Tridentine Rite after Benedict relaxed restrictions in 2007 was becoming a source of division in the church.

      This outraged his traditionalist and conservative critics, who called the move an attack on them and the ancient rite. It fuelled right-wing opposition to Francis that already was angered at his outreach to gays and divorced Catholics.

      LGBTQ+ Francis famously said, “Who am I to judge?” when asked in 2013 about a Vatican monsignor who was purportedly gay.

      Francis followed up by assuring gay people that God loves them as they are, that “being homosexual is not a crime”, and that “everyone, everyone, everyone” is welcome in the church.

      During his pontificate, the Vatican reversed itself and said transgender people could be baptized, serve as godparents and witnesses at weddings; and approved same-sex blessings. But while he met several times with members of the LGBTQ+ community, Francis didn't change church teaching stating that homosexual acts are “intrinsically disordered”.

      As archbishop of Buenos Aires, he opposed efforts to legalize same-sex marriage and proposed, unsuccessfully, that the country approve civil unions instead.

      He articulated support for those Argentine civil union protections in a 2019 interview with Mexican broadcaster Televisa, making him the first pope to come out in favor of them.

      Migration Francis denounced the “globalisation of indifference” shown to migrants and urged Europe and other countries to open their doors to those seeking better lives.

      His first trip outside Rome as pontiff in July 2013 was to the Italian island of Lampedusa, a key site in Europe's migration crisis.

      In 2016, he brought a dozen Syrian refugees to Rome with him from a camp in Greece and repeated the gesture in 2021 while visiting Cyprus and Greece. “We cannot allow the Mediterranean to become a vast cemetery!” he told European lawmakers.

      He also decried “inhuman” conditions facing migrants crossing the US-Mexico border. In 2016, Francis said of then-candidate Donald Trump that anyone building a wall to keep migrants out “is not a Christian”.

      Nuclear weapons Francis went further than his predecessors -- and church teaching -- by saying that not only the use, but the mere possession of nuclear weapons was “immoral".

      The church previously held that nuclear deterrence could be morally acceptable in the interim as long as it went toward mutual, verifiable disarmament.

      Vatican reform Francis was elected on a mandate for bureaucratic reform after centuries of waste, mismanagement and market crises put the Vatican's financial health at risk.

      He imposed regulations to bring order, transparency and modern accounting to the books, requiring competitive bidding procedures, caps on gifts, salary cuts for cardinals and the centralisation of assets and investments in one office with a unified, ethical and green investment policy.

      He created a Secretariat for the Economy to supervise the Holy See's finances, staffed mostly with lay experts, and he authorized a sweeping criminal trial into the Vatican's botched investment in a London real estate deal that resulted in losses of tens of millions of euros.

      Women Francis consistently called for a greater role for women in governing the church and made significant appointments and changes to church law to prove his point.

      He named an Italian nun as prefect of the Vatican office for religious orders and another Italian nun as head of the Vatican City State administration, two jobs previously held only by cardinals. He also named a French nun as an undersecretary in the Vatican Synod of Bishops' office, giving her a vote in the previously all-male process and opened up the synod itself to voting women members.

      He named three women to the Vatican office that vets bishop appointments, a first. He appointed women to half the seats on the Vatican's economic council, appointed two study commissions into whether women could be ordained deacons, put Mary Magdalene on par with the male apostles by declaring a feast day for her, and formally allowed women to serve as lectors and acolytes, services previously open to them on an ad hoc basis.

      But he reaffirmed the all-male priesthood and ruled out, for now, ordaining women as deacons. (AP) PY PY

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