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    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    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
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    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs & Trade

      Trump fast-tracks Utah uranium mine, but industry revival may wait for higher prices

      May 31, 2025

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      Salt Lake City, May 31 (AP) In the southeastern Utah desert famous for red rock arches and canyon labyrinths, the long-dormant uranium mining industry is looking to revive under President Donald Trump.

      Hundreds of abandoned uranium mines dot the West's arid landscapes, hazardous reminders of the promise and peril of nuclear power during the Cold War. Now, one mine that the Trump administration fast-tracked for regulatory approval could reopen for the first time since the 1980s.

      Normally it would have taken months, if not years, for the US Bureau of Land Management to review plans to reopen a project like Anfield Energy's Velvet-Wood mine 35 miles south of Moab. But the bureau's regulators green-lit the project in just 11 days under a “national energy emergency” Trump has declared that allows expedited environmental reviews for energy projects.

      More permits and approvals will be needed, plus site work to get the mine operating again. And the price of uranium would have to rise enough to make domestic production financially sustainable. If that happens, it would mean revival — and jobs — to an industry that locally has been moribund since the Ronald Reagan era.

      “President Trump has made it clear that our energy security is national security," Interior Secretary Doug Burgum said in announcing the fast-tracking policy in April. “These emergency procedures reflect our unwavering commitment to protecting both.” More fast approvals appear likely. Trump's order also applies to oil, gas, coal, biofuel and hydropower projects — but not renewable energy — on federal lands.

      Conditions are ripe for more US uranium mining Global uranium prices are double what they were at a low point seven years ago and, for the past year, the US has banned uranium imports from Russia due to that country's 2022 invasion of Ukraine.

      More domestic mining would address a major imbalance. The US imports about 98 per cent of the uranium it uses to generate 30 per cent of the world's nuclear energy.

      More than two-thirds of US imports come from the world's top three uranium-mining countries: Canada, Australia and Kazakhstan.

      Less government regulation won't spur more US uranium mining by itself. The market matters. And while spot-market prices are up from several years ago, they're down about a third from their recent high in early 2024.

      While some new uranium mining and processing projects have been announced, their number falls far short of a surge. That suggests prices need to rise — and stay there — for a true industry revival, said John Uhrie, a former uranium executive who now works in the cement industry.

      “Until the price goes up dramatically, you're not going to be able to actually put these places into operation,” Uhrie said. “You need significant capital on the ground.” Still, the industry is showing new life in the Southwest.

      Anfield Energy, a Canadian company, also looks to reopen the Shootaring Canyon uranium mill in southern Utah near Glen Canyon National Recreation Area. It closed in the early 1980s. A uranium mill turns raw ore into yellowcake, a powdery substance later processed elsewhere into nuclear fuel.

      Anfield officials did not return messages seeking comment on plans to reopen the mill and the Velvet-Wood mine.

      Energy Fuels, another Canadian company which ranks as the top US uranium miner, opened the Pinyon Plain mine about 10 miles from the Grand Canyon in late 2023.

      And just off US 191 in southeastern Utah is a hub of the industry, Uranium Fuels' White Mesa mill, the country's only uranium mill still in operation.

      In Moab, uranium has a long — and mixed — legacy These days, Moab is a desert tourism hot spot bustling with outdoor enthusiasts. But the town of 5,200 has a deeper history with uranium. Nods to Moab's post-World War II mining heyday can been spotted around town — the Atomic Hair Salon isn't just named for its blowout hairstyles.

      The biggest reminder is the Moab Uranium Mill Tailings Remedial Action project, a 480-acre site just outside town. The decades-long, USD 1 billion US Department of Energy effort to haul off toxic tailings that were leaching into the Colorado River upstream from the Grand Canyon and Lake Mead should wrap up within five more years.

      That mill's polluting legacy makes some Moab residents wary of restarting uranium mining and processing, especially after the Trump administration cut short their ability to weigh in on the Velvet-Wood mine plans.

      “This was a process I would have been involved in,” said Sarah Fields, director of the local group Uranium Watch. “They provided no opportunity for the public to say, You need to look at this, you need to look at that.'" Grand Canyon Trust, a group critical of the Pinyon Plain mine as a danger to groundwater, points out that the US nuclear industry isn't at risk of losing access to uranium.

      “This is all being done under the assumption there is some energy emergency and that is just not true,” said Amber Reimondo, the group's energy director.

      Supply and demand will decide uranium mining's future Hundreds of miles to the north, other nuclear energy projects point to the US industry's future.

      With Bill Gates' support, TerraPower is building a 345-megawatt sodium-cooled fast reactor outside Kemmerer in western Wyoming that could, in theory, meet demand for carbon-free power at lower costs and with less construction time than conventional reactor units.

      Meanwhile, about 40 per cent of uranium mined in the US in 2024 came from four Wyoming “in-situ” mines that use wells to dissolve uranium in underground deposits and pump it to the surface without having to dig big holes or send miners underground.

      Similar mines in Texas and Nebraska and stockpiled ore processed at White Mesa accounted for the rest.

      None — as yet — came from mines in Utah.

      Powering electric cars and computing technology will require more electricity in the years ahead. Nuclear power offers a zero-carbon, round-the-clock option.

      Meeting the demand for nuclear fuel domestically is another matter. With prices higher, almost 700,000 pounds of yellowcake was produced in the US in 2024 — up more than a dozen-fold from the year before but still far short of the 32 million pounds imported into the US.

      Even if mining increases, it's not clear that US capacity to turn the ore into fuel would keep pace, said Uhrie, the former uranium mining executive.

      "Re-establishing a viable uranium industry from soup to nuts — meaning from mining through processing to yellow cake production, to conversion, to enrichment to produce nuclear fuel — remains a huge lift," Uhrie said. (AP) PY PY

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