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    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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    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
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    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
    Rupee falls 3 paise to close at 95.40 against US dollar
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
    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
    AU Small Finance Bank Savings Accounts: Competitive Interest Rates, Zero-Balance Digital Account Opening and 24x7 Mobile Banking
    Rupee opens on flat note, rises 3 paise to 95.34 against US dollar in early trade
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    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.
    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.

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      Justice Abhay Shreeniwas Oka: Judge for whom 'letter of law is sacrosanct'

      May 23, 2025

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      New Delhi, May 23 (PTI) Justice Abhay Shreeniwas Oka, for whom Friday marked the last day as a Supreme Court judge, will be remembered for his clarity of thought, sharp acumen and the precision of his judgments that upheld constitutional values.

      The judge, who spent his last at work pronouncing one short of a dozen judgments reserved by the benches he headed, would retire on May 24, a holiday.

      As a judge for over two decades, he spoke through his verdicts, which invariably upheld principles of liberty and fundamental rights.

      In what perhaps will be regarded the epitome of his commitment, Justice Oka returned to work a day after his mother's passing to pronounce 11 judgements on his the working day in the apex court.

      The almost four-year eventful tenure in the top court had Justice Oka adjudicate a wide range of issues including criminal, environmental, arbitration and corporate matters.

      Senior advocate Shreehari Aney was Maharashtra's top law officer - the Advocate General - when Justice Oka was senior judge in the Bombay High Court.

      "I can tell you for certain that he always did what was right. Invariably.. without exception. If there was an easier way out which was not as right as the correct way, he'd never take easier way out," he told PTI.

      Aney remembered a couple of occasions illustrating Justice Oka's unwavering commitment to uphold the rule of law, without any exception.

      "When I was AG, he was a senior judge in Bombay High Court. The then government wanted to hold a ‘Make in India’ event at Chowpatty but there were orders of the high court prohibiting any public function at the beach. I did try to pursuade him to permit the function, by requesting him not in a case, but privately as the AG of the government," he said.

      The judge, Aney said, in his "quiet, soft spoken but firm manner" refused saying he would not permit it even as a legitimate exception to what was laid down by the high court.

      "We did go to SC and secure a temporary permission, but later, during the event, the stage caught fire. Perhaps it the divine justifying the judge’s refusal," Aney recalled.

      Justice Oka, in his opinion, considers that only the "letter of the law is sacrosanct".

      Aney also represented the Maharashtra government in the Beef ban case, when a particular clause that allowed police to enter even private homes and arrest citizens on suspicion that they were cooking beef.

      "As AG I took the liberty to say this section was not lawful. But I argued that it need not be struck down, as its vice could be controlled by reading it down. Reading down is a power that courts possess not to strike down a law, but to permit it to function in a humane manner. Justice Oka said 'as AG you have yourself said the provision is unlawful. Once it is against the citizen’s right to liberty and freedom, then the court is not going to read it down. It shall be struck down'," Aney recollected the judge as saying.

      Justice Oka very recently acknowledged that judges are human and can make mistakes with reference to his own 2016 judgment.

      "This shows the immense integrity of the man. When you occupy the office of a SC judge, you're not expected to be right every time but once you pronounce something, it is the law of the land," Aney said, "and it speaks about the moral fiber of the person who, from that lofty seat, can say ‘I was wrong’. He is a singularly unique judge." Since August 2021 in the apex court, Justice Oka has authored 295 judgments and was part of over 1,000 verdicts in different combinations.

      Criticising the increasing trend of trial courts rejecting bail applications in "not very serious" cases, Justice Oka went on to observe that even terrorist Ajmal Kasab got a fair trial in 26/11 Mumbai attack case.

      The judge was of the view that a democratic country must not function like a police state and opined that the system was being burdened unnecessarily.

      During the Covid-19 pandemic, Justice Oka passed several directions protecting the rights of migrant workers and questioned the insensitive handling of the government.

      Justice Oka said the requirement of informing grounds of arrest to an accused was not a "formality but a mandatory constitutional requirement.

      He granted bail to DMK leader Senthil Balaji in a money laundering case referring to the delay in trial and his long incarceration.

      Later when Balaji rejoined as minister, Justice Oka was the one to give him an ultimatum prompting the lawmaker to resign from the post.

      The Enforcement Directorate faced a tough time in his court, often facing flak for keeping accused persons in jail without trial.

      Justice Oka went on to say that ED should also think of the fundamental rights of the accused, underlining a "pattern" of the agency in levelling allegations without evidence.

      On the environmental front, Justice Oka's bench closely monitored the implementation of Graded Response Action Plan in Delhi when the air pollution levels rose and imposed ban on crackers, directed shutting of schools and ordered subsistence to construction workers.

      He also took note of reckless felling of trees in the ridge area in city and issued contempt notice to the vice chairman of Delhi Development Authority.

      Observing that cutting of trees was worse than killing human beings, Justice Oka pushed the authorities for tree census in Delhi and Taj Trapezium Zone.

      He recently issued guidelines for senior advocate designations and removed marking system.

      The judge in another matter held that Anganwadi workers were entitled to receive gratuity under the Payment of Gratuity Act, 1972.

      He passed several landmark judgments including striking down a 2017 notification of the Ministry of Environment, Forest and Climate Change, which introduced a regime of granting ex-post facto clearances to projects.

      Justice Oka was born on May 25, 1960 to Shreeniwas W Oka and Vasanti Oka.

      He graduated in BSc, and then completed his LLM from the University of Bombay.

      He enrolled as an advocate on June 28, 1983 and started practising in Thane District Court in his father's chamber.

      In 1985-86, he joined the chamber of Shri V P Tipnis, a former Judge of the Bombay High Court and former LokAyukta. PTI PKS SJK AMK AMK

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