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    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
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    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
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    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.
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    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.
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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.
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    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.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
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    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.

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      Elon Musk's pullback from politics comes after his last big investment was flop

      May 21, 2025

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      Madison, May 21 (AP) Wisconsin could go down as billionaire Elon Musk's last big spend on a political campaign.

      And it was a flop.

      Musk, the richest person in the world, said Tuesday that he would be spending less on political campaigns. The announcement came as Musk is stepping back from his role in the Trump administration, saying he will spend more time focused on his businesses, and just seven weeks after the candidate he backed in Wisconsin's Supreme Court race lost by 10 percentage points.

      Democrats in the swing state said Musk's comments show that a party-led effort in this spring's election, dubbed “ People vs. Musk, ” succeeded in making Musk and his money “toxic.” “The people have won,” said Wisconsin Democratic Party Chairman Ben Wikler. “The biggest funder in Republican politics is taking his toys and going home." Brandon Scholz, a retired longtime Republican strategist in the state, said that at least in Wisconsin, “after that court race he deserves to be labelled as toxic.” But that doesn't mean Musk couldn't spend money on races in the state and nationally again, especially if the stakes are high and his money could make a difference, Scholz said.

      “Does he bring with him a lot of baggage? Possibly,” Scholz said. “But over time, maybe not as much." Musk's spending in this year's Wisconsin Supreme Court race helped make it the most expensive court race in US history. And it came just five months after Musk spent at least USD 250 million to help President Donald Trump win, reversing losses in Wisconsin and other battleground states four years earlier.

      Musk was all-in on the Wisconsin Supreme Court race, even making a personal appearance in Green Bay the weekend before the election wearing a cheesehead hat — popular with fans of the NFL's Green Bay Packers — and personally handing out checks for USD 1 million to supporters.

      It was an extension of Musk's high-profile role in the presidential race, where he campaigned alongside Trump and headlined some of his own rallies.

      “It's a super big deal,” he told the roughly 2,000-person crowd in the event center, where hundreds of protesters were rallying against his appearance outside. “I'm not phoning it in. I'm here in person.” But his appearance — and money — didn't work.

      The candidate Musk backed lost Brown County, the home of Green Bay, by 3 percentage points, going on to lose statewide by more than three times that margin.

      After the defeat, Musk has said little publicly about the race and his involvement in it. His popularity has also plummeted.

      An Associated Press-NORC Center for Public Affairs poll taken two weeks after the Wisconsin court election found that just 33 per cent of adults had a favourable view of the Tesla CEO, down from 41 per cent in December.

      Musk's involvement in the race came at the same time he was the chain-saw-wielding face of the Trump administration's effort to downsize the federal government.

      His Department of Government Efficiency, also known as DOGE, has enacted deep cuts to the workforce and spending, in some cases seeking to shutter entire agencies, but it has fallen far short of its goals for reducing federal spending.

      Democratic US Rep. Mark Pocan, of Wisconsin, is one of the most liberal members of Congress and a loud critic of both Trump and Musk.

      Pocan is sceptical that Musk truly will back away.

      “I don't believe any of it, first of all,” Pocan said. “This just means they realize how toxic Elon Musk is and the work he did through DOGE.” Kelda Roys, a Democratic state senator, was also tempered in her excitement over Musk saying he plans to do a “lot less” political spending in the future.

      “There's a ton of other billionaire bros, I'm sure, willing and happy to step up in his place,” Roys said.

      Musk could also get involved with future races, but in a much more low-profile way, said Scholz, the Republican.

      “In Wisconsin, he had such a huge, huge, huge profile,” Scholz said. "He became the campaign. He became the story.” Musk spent at least USD 3 million on the Wisconsin Supreme Court race himself. Musk-backed groups America PAC and a Rebuilding America's Future spent another USD 19 million in support of the Republican-backed candidate Brad Schimel. That was part of more than USD 100 million spent on both sides.

      America PAC spent at least USD 6 million on vendors who sent door-to-door canvassers across the state, according to the nonpartisan Wisconsin Democracy Campaign. It was a reprise of what the group did last fall across the seven most competitive presidential battleground states, including Wisconsin, which were carried by Trump.

      In addition to his political contributions, Musk paid three individual voters USD 1 million each for signing a petition in an effort to goose turnout. Musk also offered to pay USD 20 to anyone who signed up on his group's site to knock on doors for Schimel and posted a photo of themselves as proof. His organisation promised USD 100 to every voter who signed the petition against “activist judges” and another USD 100 for every signer they referred.

      Musk himself hosted Schimel on his podcast and cast what was at stake in stark terms.

      “A seemingly small election could determine the fate of Western civilization,” Musk said in a social media post on the April 1 election day. “I think it matters for the future of the world.” Democrats made the race a referendum on both Musk and Trump's agenda, successfully electing a judge whose victory ensures the Wisconsin Supreme Court will remain under liberal control until at least 2028.

      Coincidentally, Musk's announcement about spending less on political races came just hours after a liberal judge announced her candidacy for the 2026 Wisconsin Supreme Court race.

      Wisconsin Appeals Court Judge Chris Taylor is challenging a conservative incumbent justice who sided with Trump in his unsuccessful lawsuit that attempted to overturn his 2020 loss in Wisconsin. The race will be decided in April, months before the midterms in which Democrats hope unease with Trump and Musk will help the party make gains.

      Taylor appeared to be taking a similar approach to her campaign that the winning Democratic-backed candidate did this year.

      “My campaign is going to be a campaign about the people of this state," she told The Associated Press, “not about billionaires, not about the most powerful.” (AP) GRS GRS

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