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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
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    Meeting of Heads of National Statistical Offices of BRICS Countries “Quality Statistics as Driver of Change”
    Modernization of National Sample Surveys through adoption of digital platforms such as Computer Assisted Personal Interview (CAPI) integrated with e- ...
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    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    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
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    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.
    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.
    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.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.

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      US immigration authorities detain the family of the man charged in the Colorado attack

      June 4, 2025

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      Boulder (US), Jun 3 (AP) The wife and five children of an Egyptian man accused of throwing Molotov cocktails at people in Boulder demonstrating for the release of Israeli hostages, injuring 12 of them, was taken into custody Tuesday by US immigration officials who are investigating whether they knew about his plan.

      The family of Mohamed Sabry Soliman, 45, was taken into custody by US Immigration and Customs Enforcement and could be deported as early as Tuesday night, the White House said in a post on X.

      Soliman, who was disguised as a gardener, had 18 Molotov cocktails and had planned to kill all of the roughly 20 participants in Sunday's demonstration in downtown Boulder but apparently had second thoughts and threw just two while yelling "Free Palestine," police said. Soliman, who federal authorities say has been living in the US illegally, didn't carry out his full plan “because he got scared and had never hurt anyone before," police wrote in an affidavit.

      The two incendiary devices he threw were enough to injure more than half of the participants in the weekly demonstration, authorities said, noting that he expressed no remorse about the attack.

      "When he was interviewed about the attack, he said he wanted them all to die, he had no regrets, and he would go back and do it again," Colorado's acting US attorney, J Bishop Grewell, said during a news conference Monday.

      Soliman told authorities that no one, including his family, knew about his plans, according to court documents.

      He targeted what he described as a "Zionist group," authorities said in court papers, at times spelling his first name "Mohammed." "He stated that he had been planning the attack for a year and was waiting until after his daughter graduated to conduct the attack," the affidavit says.

      Soliman left an iPhone hidden in a desk drawer at his Colorado Springs home that contained messages to his family, according to an FBI affidavit. After his arrest, his wife brought the phone to the local police department, saying it was his but was also used by other members of the family.

      According to the affidavit, Soliman also told the police he was driven by a desire "to kill all Zionist people" — a reference to the movement to establish and protect a Jewish state in Israel.

      Defendant's immigration status Soliman was born in el-Motamedia, an Egyptian farming village in the Nile Delta province of Gharbia, to a school teacher who was widely respected in the area, according to an Egyptian security official who spoke on the condition of anonymity because he wasn't authorised to talk to the media. The village is about 120 km (75 miles) north of Cairo.

      Soliman was a handball player with Cairo's Zamalek club, Mortada Mansour, the club's former chairman, wrote on Facebook.

      Before moving to Colorado Springs three years ago, he spent 17 years in Kuwait, according to court documents.

      He has been living in the US illegally, having arrived in August 2022 on a tourist visa that expired in February 2023, Department of Homeland Security Assistant Secretary Tricia McLaughlin said in a post on X. She said Soliman filed for asylum in September 2022 and was granted a work authorisation in March 2023, but that it also expired. The immigration status of his wife and children is not clear, and DHS did not respond to requests for additional information.

      Hundreds of thousands of people overstay their visas each year in the United States. There were 565,155 visa overstays from October 2022 through September 2023 among visitors who arrived by plane or ship — more than the population of the Reno, Nevada, or Chattanooga, Tennessee, metropolitan areas, according to the Homeland Security Department's most recent annual report.

      The total number of overstays is much larger but has not been quantified because it doesn't include how many people arrive and leave by land. The cost and technological hurdles to develop a checkout system at congested land crossings are enormous.

      The overstay rate for Egyptians on business or tourist visas was 4%, below some of the biggest offenders, such as Chad (49%), Laos (34%) and Sudan (26%) The case against Soliman Federal and state prosecutors filed separate criminal cases against Soliman, charging him with a hate crime and attempted murder, respectively. He faces additional state charges related to the incendiary devices, and more charges are possible in federal court, where the Justice Department will seek a grand jury indictment.

      Soliman is being held on a $10 million bond. His attorney, Kathryn Herold, declined to comment Monday after a hearing where he appeared before a state judge. His next hearing is Thursday.

      The attack at the popular Pearl Street pedestrian mall in downtown Boulder unfolded against the backdrop of the Israel-Hamas war, which continues to inflame global tensions and has contributed to a spike in antisemitic violence in the United States. The attack happened at the beginning of the Jewish holiday of Shavuot and barely a week after a man who also yelled "Free Palestine" was charged with fatally shooting two Israeli Embassy staffers outside a Jewish museum in Washington.

      Six victims hospitalised The victims ranged in age from 52 to 88, and their injuries spanned from serious to minor, officials said. They were members of the volunteer group called Run For Their Lives who were holding their weekly demonstration.

      Six victims were initially taken to a hospital. Three remained Tuesday at the UCHealth University of Colorado Hospital, spokesperson Kelli Christensen said. She declined to provide information on their conditions and said they requested privacy.

      One of the victims was a child when her family fled the Nazis during the Holocaust, said Ginger Delgado, of the Arapahoe County Sheriff's Office, who is acting as a spokesperson for the family of the woman, who doesn't want her name used.

      Video of the attack captured by witness Alex Osante of San Diego shows people pouring water on a woman lying on the ground who Osante said had caught fire.

      Molotov cocktails found Osante said that after the assailant threw the two incendiary devices, apparently catching fire himself as he threw the second, he took off his shirt and what appeared to be a bulletproof vest before police arrived. In the video, the man can be seen dropping to the ground and being arrested without any apparent resistance.

      The Molotov cocktails were made up of glass wine carafe bottles or jars with clear liquid and red rags hanging out of them, the FBI said.

      He had gas in a backpack sprayer but told investigators he didn't spray it on anyone but himself "because he had planned on dying." Soliman also told investigators that he took a concealed-carry class and tried to buy a gun but was denied because he isn't a US citizen.

      Authorities said they believe Soliman acted alone. Although they did not elaborate on the nature of his injuries, a booking photo showed him with a large bandage over one ear. (AP) AMJ AMJ

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