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    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
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      We both agree 'this is not an era of war': PM Modi after talks with Cyprus Prez

      June 16, 2025

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      Nicosia, Jun 16 (PTI) Prime Minister Narendra Modi on Monday said he and Cyprus President Nikos Christodoulides "expressed concern" over the ongoing conflicts in West Asia and Europe, and they both agree that "this is not an era of war".

      Modi made the remarks after wide-ranging talks with Christodoulides, covering the full range of bilateral relations. They talked about cooperation in areas like defence, security, trade, technology, healthcare, renewable energy and climate justice. They also discussed regional and global issues, including the conflicts in West Asia and Europe.

      During his visit, Modi and Christodoulides also viewed from atop a building the mountains near Nicosia, which are under Turkish control, signalling a message to Turkiye, which had openly supported Pakistan during the recent conflict with India.

      His visit to Cyprus assumes significance in the wake of the island nation's strained ties with Turkiye.

      This is his first foreign visit after India carried out Operation Sindoor in May during which it destroyed terror infrastructure in Pakistan and Pakistan-Occupied Kashmir in retaliation to the Pahalgam attack.

      "We are thankful for Cyprus' support to India's fight against cross-border terrorism," Modi, the first Indian prime minister to visit Cyprus in over two decades, said while addressing a joint press conference with Christodoulides after their talks.

      A joint statement issued after their talks said Cyprus and India "unequivocally condemned terrorism and violent extremism in all its forms and manifestations, including international and cross-border terrorism, and reaffirmed their shared commitment to countering hybrid threats that undermine peace and stability".

      They reiterated their "zero-tolerance approach" to terrorism, rejecting any justification for such acts, under any circumstances, as they emphasised that those responsible for the attacks should be held "accountable".

      "We both expressed concern over the conflicts going on in West Asia and Europe. Their negative impact is not just limited to those regions. We both consider that this is not an era of war. Resolution through dialogue and restoration of stability is the call of humanity," Modi said, without naming any country.

      Christodoulides said, "We have a historic friendship, and there is trust in ties".

      He recalled the horrific Pahalgam terror attack of April 22 and asserted that Cyprus stands in "full solidarity" with India.

      Cyprus "stands with India in its fight against terrorism" in all forms and manifestations, he said.

      In his remarks, Christodoulides also referred to the June 12 Air India plane crash in Ahmedabad and said the people of Cyprus are with India in this time of grief.

      Christodoulides also said the two sides also discussed the Cyprus issue and added that Cyprus wants to end the "illegal occupation" by Turkiye, referring to the disputed northern region.

      "We extend the gratitude of the Republic of Cyprus to India and its people for their support. The support for the territorial integrity of Cyprus, our reunification," he said, and cited India's contribution to the UN Peacekeeping Force in Cyprus.

      Cyprus and India "expressed their strong commitment to the resumption of UN-facilitated efforts to achieve a comprehensive and lasting settlement of the Cyprus Question on the basis of a bizonal, bicommunal federation with political equality, in accordance with the agreed UN framework and the relevant UN Security Council Resolutions," said the joint statement.

      "India reiterated its unwavering and consistent support for the independence, sovereignty, territorial integrity, and unity of the Republic of Cyprus. In this regard, both sides emphasized the need to avoid unilateral actions as essential for creating a conducive environment for the resumption of meaningful negotiations," it added.

      The island nation located in the eastern Mediterranean Sea, and neighbouring Turkiye, share an uneasy past.

      According to the website of the UN Peacekeeping Force in Cyprus, the Turkish government, invoking the Treaty of Guarantee of 1960, launched an extensive military operation on the north coast of Cyprus, which resulted eventually in the occupation of the main Turkish Cypriot enclave north of Nicosia's.

      In 1974, India had taken a firm stand in support of the sovereignty, unity and territorial integrity of the Republic of Cyprus.

      In his press statement, Modi said his visit was a "golden opportunity" to write a new chapter in India-Cyprus bilateral ties.

      Modi said there are many similarities between Cyprus' Vision 2035 and the vision of Viksit Bharat 2047.

      "That is why we will shape the future together. We will create a concrete roadmap for the next five years to give a strategic direction to our partnership. Dialogue will be started on cyber and maritime security," he said.

      Spokesperson of the Ministry of External Affairs, Randhir Jaiswal, in a post on X wrote on the visit, "A renewed momentum to further deepen India-Cyprus ties." During the delegation-level talks, both leaders discussed ways to deepen cooperation in newer areas of defence industry, connectivity, innovation, tourism and mobility, alongside traditional areas of trade and investments, counter-terrorism and culture, he said.

      They called for enhancing connectivity between the two countries which would strengthen the India-Middle East-Europe Economic Corridor (IMEEC) corridor. They noted that Cyprus is an important partner for India in the EU, Jaiswal wrote.

      In his remarks, the Prime Minister asserted that mutual trust in democracy and the rule of law form a "strong foundation of our ties".

      "Our ties are neither made by circumstances nor limited. We respect each other's sovereignty and territorial integrity," he said.

      Modi said Cyprus is also a choice tourist destination for Indians, and efforts will be made for direct air connectivity between the two sides.

      "We also discussed how to deepen cultural linkages. Yoga and Ayurveda are gaining popularity in Cyprus, which is gladdening to see. Tourism is another area where there is rich potential. We also deliberated on how to improve connectivity," he said.

      IMEEC and India-EU ties also figured in their talks and the joint statement.

      Both leaders underscored the significance of the IMEEC as a "transformative, multi-nodal initiative" that fosters peace, economic integration, and sustainable development, it said.

      "We are both convinced about the transformative potential of the India-Middle East-Europe Economic Corridor. This corridor will boost peace and prosperity in the region," Modi said.

      Cyprus will assume the presidency of the Council of the EU next year.

      "I have assured the Prime Minister that when Cyprus will assume the presidency of the Council of the EU, we will accord priority to EU-India ties, and we will cooperate so that we can boost it. Also, EU-India free trade agreement we wish it gets concluded," Christodoulides said.

      The President also invited Modi to the "unofficial meeting" of the Council of the EU, which he said will take place next year in Cyprus.

      The Prime Minister also invited the Cyprus President to visit India.

      "The leaders reaffirmed their commitment to multilateralism and reform of global governance institutions, including UN Security Council reform," the MEA said.

      Prime Minister Modi thanked President Christodoulides for reiterating Cyprus’s support for India’s permanent membership of a reformed UNSC.

      An MoU to establish an India Studies ICCR Chair at the University of Nicosia was also signed during the visit, the MEA said. PTI KND ZH ZH

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