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    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
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    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.
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    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.
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    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.
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    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.
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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.
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    August 4, 2026
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    August 4, 2026
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    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.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.

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      Cardinals attend final Mass at St Peter's Basilica before conclave to elect next pope

      May 7, 2025

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      Vatican City, May 7 (AP) With all the pomp, drama and solemnity that the Catholic Church can muster, 133 cardinals on Wednesday began the centuries-old rituals to elect a successor to Pope Francis, celebrating a morning Mass before opening the most geographically diverse conclave in the faith's 2,000-year history.

      Hailing from 70 countries, the cardinals are being sequestered from the outside world, their cellphones surrendered and airwaves around the Vatican jammed to prevent them from all communications until they find a new leader for the 1.4 billion-member church.

      Francis named 108 of the 133 “princes of the church,” choosing many pastors in his image from far-flung countries like Mongolia, Sweden and Tonga that had never had a cardinal before.

      His decision to surpass the usual limit of 120 cardinal electors and include younger ones from the “global south” — those often marginalised countries with lower economic clout — has injected an unusual degree of uncertainty in a process that is always full of mystery and suspense.

      Many hadn't met one another until last week and lamented they needed more time to get to know one another, raising questions about how long it might take for one man to secure the two-thirds majority, or 89 ballots, necessary to become the 267th pope.

      “Wait and see, a little patience, wait and see,” said Cardinal Mario Zenari, the Vatican's ambassador to Syria as he arrived for the final day of pre-vote discussions.

      'A final Mas, then All out' The cardinals began the day by participating in a final pre-conclave Mass in St. Peter's Basilica. The dean of the College of Cardinals, Giovanni Battista Re, celebrated the Mass, which is meant to pray for cardinals to find the wisdom, counsel and understanding to elect a worthy new shepherd.

      Wearing bright red vestments, the cardinals processed down the central aisle of the basilica as the Sistine Chapel's boys' choir sang. They took up their seats around the main altar, which lies above the traditional burial place of St. Peter, considered to be the first pope.

      Re, 91, had presided at Francis' funeral, delivering a heartfelt sermon recalling history's first Latin American pope and the reforming 12-year papacy he oversaw.

      At 4:30 pm (1430 GMT) the cardinals walk solemnly into the frescoed Sistine Chapel, chanting the meditative “Litany of the Saints” and the Latin hymn “Veni Creator,” imploring the saints and the Holy Spirit to help them pick a pope.

      Once there, they pledge to maintain secrecy about what is about to transpire and to not allow “any interference, opposition or any other form of intervention” from outsiders to influence their voting.

      Standing before Michelangelo's vision of heaven and hell in “The Last Judgment,” each cardinal places his hand on the Gospel and swears to carry out that duty "so help me God and these Holy Gospels, which I touch with my hand.” The awesomeness of the chapel's frescoes, and Michelangelo's in particular, is meant to remind the cardinals of the weighty responsibility they bear.

      In his regulations for the conclave, St. John Paul II wrote that in the Sistine Chapel, “everything is conducive to an awareness of the presence of God, in whose sight each person will one day be judged.” After the cardinals take their oaths, a senior cardinal delivers a meditation. The master of papal liturgical ceremonies, Archbishop Diego Ravelli, calls out “Extra omnes,” Latin for “all out.” Anyone not eligible to vote then leaves and the chapel doors close, allowing the work to begin.

      The cardinals don't have to take a first vote on Wednesday, but they usually do. Assuming no winner is found, the Vatican said black smoke could be expected out of the Sistine Chapel chimney at around 7 pm.

      The cardinals retire for the night and return Thursday morning. They can hold up to two ballots in the morning and two in the afternoon until a winner is found.

      While cardinals this week said they expected a short conclave, it will likely take at least a few rounds of voting. For the past century, it has taken between three and eight ballots to find a pope. John Paul I — the pope who reigned for 33 days in 1978 — was elected on the third ballot. His successor, John Paul II, needed eight. Francis was elected on the fifth in 2013.

      Lobbying ahead of the conclave While the cardinals are supposed to resist any “secular” influences in their choice, such lobbying abounded in Rome in the days before the conclave as various groups reminded cardinals of what ordinary Catholics want in a leader.

      Young Catholics penned an open letter reminding cardinals that there is no church without young people, women and the laity. Conservative Catholic media slipped cardinals copies of a glossy book containing their assessments of contenders.

      Survivors of clergy sexual abuse warned cardinals that they would be held accountable if they failed to find a leader who will crack down on decades of abuse and cover-up.

      Advocates for women's ordination were sending pink smoke signals over the Vatican to demand that women be allowed to be priests.

      Challenges facing a new pope There are any number of challenges facing a new pope and weighing on the cardinals, above all whether to continue and consolidate Francis' progressive legacy on promoting women, LGBTQ+ acceptance, the environment and migrants, or roll it back to try to unify a church that became more polarised during his pontificate. The clergy sex abuse scandal hung over the pre-conclave talks.

      Since Francis chose 80 per cent of the voters, continuity is likely, but the form it might take is uncertain.

      As a result, identifying front-runners has been a challenge. But some names keep appearing on lists of “papabile,” or cardinals having the qualities to be pope.

      — Cardinal Pietro Parolin, 70, is a leading Italian, by nature of his office. He was Francis' secretary of state, the Vatican No. 2, so known to every cardinal.

      — Filipino Cardinal Luis Tagle, 67, is a top candidate to be history's first Asian pope. He had a similarly high-profile job, heading the Vatican's evangelisation office responsible for the Catholic Church in much of the developing world.

      — Hungarian Cardinal Peter Erdo, 72, the archbishop of Budapest, is a leading candidate representing the more conservative wing of the church. (AP) GRS GRS

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