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    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
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    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
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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
    No guidelines to regulate online astrology platforms: Consumer affairs department to CIC
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    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      California governor asks court to block Trump administration from using troops in immigration raids

      June 11, 2025

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      Los Angeles, Jun 10 (AP) California Gov. Gavin Newsom filed an emergency request in federal court Tuesday to block the Trump administration from using the National Guard and Marines to assist with immigration raids in Los Angeles.

      Newsom's move comes after President Donald Trump ordered the deployment of roughly 4,000 National Guard members and 700 Marines to Los Angles following four days of protests driven by anger over the president's stepped-up enforcement of immigration laws.

      The governor's request said it was in response to a change in orders for the Guard.

      The filing included a declaration from Paul Eck, deputy general counsel in the California Military Department. Eck said the department has been informed that the Pentagon plans to direct the California National Guard to start providing support for immigration operations. That support would include holding secure perimeters around areas where raids are taking place and securing streets for immigration agents.

      The Guard members were originally deployed to protect federal buildings.

      It was not clear if the change in mission had begun.

      Newsom's office did not immediately say how the state was notified about the change.

      Marines have not responded to protests yet In other developments Tuesday, the Marine Corps commandant said the Marines that deployed to the Los Angeles area on Trump's orders have not yet been called to respond to the protests and are there only to protect federal officials and property, The 700 Marines and another 2,000 National Guard troops were ordered to LA on Monday, escalating a military presence that local officials and Gov. Gavin Newsom do not want and that the police chief says makes it harder to handle the protests safely.

      Marine Corps Gen. Eric Smith told a budget hearing on Capitol Hill that the battalion has not yet been sent to any protests. The Marines were trained for crowd control but have no arrest authority and are there to protect government property and personnel, he said.

      Trump left open the possibility of invoking the Insurrection Act, which authorises the president to deploy military forces inside the US to suppress rebellion or domestic violence or to enforce the law in certain situations. It's one of the most extreme emergency powers available to a US president.

      “If there's an insurrection, I would certainly invoke it. We'll see,” he said Tuesday from the Oval Office. “But I can tell you last night was terrible, and the night before that was terrible.” Trump has described Los Angeles in dire terms that Mayor Karen Bass and Newsom say are nowhere close to the truth.

      While protesters blocked a major freeway and set cars on fire over the weekend, the demonstrations in the city of 4 million people have largely been centred in several blocks of downtown.

      On Monday, they were far less raucous, with thousands of people peacefully attending a rally at City Hall and hundreds more protesting outside a federal complex that includes a detention centre where some immigrants are being held following workplace raids across the city.

      At daybreak Tuesday, guard troops were stationed outside the detention center, but there was no sign of the Marines.

      Obscene slogans directed at Trump and federal law enforcement remained scrawled across several buildings. At the Walt Disney Concert Hall, workers were busy washing away graffiti Tuesday morning.

      In nearby Santa Ana, armoured guard vehicles blocked a road leading to federal immigration and government offices. Workers swept up plastic bottles and broken glass near buildings sprayed with graffiti.

      Sending in the military is the latest step in the administration's immigration crackdown as Trump pursues the mass deportations he promised last year during the presidential campaign. The protests have been driven by anger over the stepped-up enforcement that critics say is breaking apart migrant families.

      Defence Secretary Pete Hegseth suggested Tuesday that the use of troops inside the US will continue to expand.

      “I think we're entering another phase, especially under President Trump with his focus on the homeland, where the National Guard and Reserves become a critical component of how we secure that homeland,” he said on Capitol Hill.

      Los Angeles officials say police don't need help The mayor and the governor say Trump is putting public safety at risk by adding military personnel even though police say they don't need the help.

      Los Angeles Police Chief Jim McDonnell said he was confident in the police department's ability to handle large-scale demonstrations and that the Marines' arrival without coordinating with the police department would present a “significant logistical and operational challenge.” Newsom called the deployments reckless on the social platform X. “This isn't about public safety,” the governor said. “It's about stroking a dangerous President's ego.” Protests spread across the US The protests began Friday after federal immigration authorities arrested more than 40 people across Los Angeles and continued over the weekend as crowds blocked a major freeway and set self-driving cars on fire. Police responded with tear gas, rubber bullets and flash-bang grenades.

      Demonstrations spread Monday to other cities nationwide, including San Francisco and Santa Ana, California, as well as Dallas and Austin, Texas. Authorities in Austin said police used pepper spray balls and tear gas to disperse a crowd that threw rocks and bottles at officers, injuring four.

      Los Angeles response takes stage on Capitol Hill The Pentagon said deploying the National Guard and Marines costs USD 134 million. That figure came out Tuesday just after Hegseth engaged in a testy back-and-forth about the costs during a congressional hearing.

      The defense secretary said the department has a budget increase and the money to cover the costs, and he defended Trump's decision to send the troops, saying they are needed to protect federal agents doing their jobs.

      Meanwhile, Democratic members of California's congressional delegation on Tuesday accused the president of creating a “manufactured crisis” with his orders to send in troops.

      Rep. Nancy Pelosi contrasted Trump's actions with his handling of the Jan. 6, 2021, insurrection at the US Capitol when law enforcement officers were beaten. “We begged the president of the United States to send in the National Guard. He would not do it,” Pelosi said.

      California pushes back against sending troops California Attorney General Rob Bonta filed a lawsuit over the use of National Guard troops following the first deployment, telling reporters that Trump had “trampled” the state's sovereignty. He sought an order declaring Trump's use of the Guard unlawful and asking for a restraining order to halt the deployment.

      Trump said the city would have been “completely obliterated” if he had not deployed the Guard.

      US officials said the Marines were needed to protect federal buildings and personnel, including immigration agents. A convoy of buses with blacked-out windows and escorted by sheriff's vehicles arrived overnight at a Navy facility just south of LA.

      Despite their presence, there has been limited engagement so far between the Guard and protesters while local law enforcement implements crowd control.

      Protests were peaceful Monday Thousands flooded the streets around City Hall for a union rally Monday before labor leader David Huerta was freed on a bond after he was arrested Friday while protesting the immigration raids.

      As the crowd thinned, police began pushing protesters away, firing crowd-control munitions as people chanted, "Peaceful protest.” At least a dozen people were surrounded by police and detained.

      Several dozen people were arrested throughout the weekend. Authorities say one was detained Sunday for throwing a Molotov cocktail at police and another for ramming a motorcycle into a line of officers.

      Guard deployment is a nearly unprecedented escalation The deployment appeared to be the first time in decades that a state's National Guard was activated without a request from its governor, a significant escalation against those who have sought to hinder the administration's mass deportation efforts.

      The last time the National Guard was activated without a governor's permission was in 1965, when President Lyndon B. Johnson sent troops to protect a civil rights march in Alabama, according to the Brennan Center for Justice. (AP) GSP

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