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    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
    India's Market Opportunity is Growing, and the Trade is Taking Notice
    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
    Currently nine trade disputes pending against India under WTO rules: Govt
    MNLU Mumbai Launches MBA in Entrepreneurship & Digital Business Law
    AU Small Finance Bank Savings Accounts: Competitive Interest Rates, Zero-Balance Digital Account Opening and 24x7 Mobile Banking
    Rupee opens on flat note, rises 3 paise to 95.34 against US dollar in early trade
    Meeting of Heads of National Statistical Offices of BRICS Countries “Quality Statistics as Driver of Change”
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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
    Yellow.ai, a Global Leader in Enterprise Agentic AI, to Go Public via $550 Million Merger with Bluerock Acquisition Corp.
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    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
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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
    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
    Show AI Summary
    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.
    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.

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      Troubles at Air India continue: Flights to London, Paris cancelled; glitch hits San Francisco-Mumbai flight

      June 17, 2025

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      Mumbai/Kolkata, Jun 17 (PTI) Troubles continued at Air India, which is facing the biggest crisis since Tata group bought the airline three and a half years back, with its flights to London and Paris on Tuesday being cancelled for varied reasons and a glitch forcing fliers on San Francisco-Mumbai flight to deplane during a stopover.

      While Air India cancelled the Delhi-Paris flight after some problems were detected during pre-flight checks, its Ahmedabad-London one was cancelled due to unavailability of aircraft, the airline said.

      Separately, Air India terminated its San Francisco-Mumbai flight at its scheduled stopover at Kolkata early on Tuesday morning after one of its engines developed a technical snag.

      The disruptions came as investigators probe what caused a London-bound Air India flight to crash in Ahmedabad shortly after take-off on June 12, killing more than 270 people onboard and on the ground.

      The incident dealt a severe blow to the airline and its owner Tata, which prides itself for producing luxury cars to salt and software as well as assembly of iPhone.

      In a statement, Air India said flight AI143 from Delhi to Paris has been cancelled after "mandatory pre-flight checks identified an issue which is being presently addressed".

      It did not detail the issue that came to light during pre-flight checks.

      "However, in view of the flight coming under the restrictions on night operations at Paris Charles de Gaulle (CDG) airport, the said flight has been cancelled," Air India said.

      The airline said it is providing hotel accommodation and also offering full refunds on cancellations or complimentary rescheduling if opted by the passengers.

      Air India also said it is making alternative arrangements to fly passengers to their destination at the earliest.

      The airline, which on Monday resumed flights from Ahmedabad to London Gatwick with a new code AI159 instead of AI171 of the flight that crashed on June 12, had to cancel the flight on Tuesday due to unavailability of aircraft.

      It denied claims that a technical snag led to the cancellation and maintained that it has made alternative arrangements for the affected passengers to their destination and offered full refunds on cancellations or complimentary rescheduling if opted by them.

      Air India's official website confirmed that the AI-159 flight from Ahmedabad to the Gatwick airport in London stands cancelled after being rescheduled. The plane was scheduled to depart at 3 pm from the Sardar Vallabhbhai Patel International Airport (SVPIA).

      "Flight AI-159 from Ahmedabad to Gatwick (London) has been cancelled today (Tuesday) due to the unavailability of the aircraft, resulting from airspace restrictions and additional precautionary checks, leading to longer than usual turnaround of aircraft, and not due to any technical snag as claimed," an AI spokesperson said.

      "We regret the inconvenience caused to our passengers and have made alternative arrangements to fly them to their destination. We are providing hotel accommodation and also offering full refunds on cancellations or complimentary rescheduling if opted by passengers," he added.

      Consequently, flight AI-170 from London (Gatwick) to Amritsar on June 17 stands cancelled, the airline said.

      Iran has closed its airspace due to its ongoing war with Israel, affecting flights headed to Europe.

      AI's direct flight from Ahmedabad to London was earlier known by its assigned code 'AI-171'.

      Airport sources said the flight having code AI-171 was suspended after the horrific crash which claimed 270 lives, including 29 people on the ground.

      It resumed operation on Monday (June 16), five days after the crash, with a new flight code AI-159, said an airport official.

      Separately, an Air India flight from San Francisco to Mumbai via Kolkata suffered a technical snag early Tuesday, requiring passengers to deboard during a scheduled halt at the Netaji Subhash Chandra Bose International Airport.

      The termination led to chaotic scenes at the Netaji Subhash Chandra Bose International Airport as the 211 passengers on the Boeing 777-200 LR tried to convince officials to let them reach their destination at the earliest.

      The Tata Group-owned carrier did not issue an official statement.

      Sources said Air India is making "special arrangements" to fly the stranded passengers to Mumbai. No further details were available.

      Usually, the carrier flies directly to Mumbai from San Francisco but the ongoing geopolitical events, including the closure of Pakistani airspace, have led AI to reroute it and take a "technical halt" in Kolkata.

      Flight AI-180 landed in Kolkata at the scheduled time of 12.45 am, even though it took off one hour late from San Francisco.

      According to sources, a technical issue was detected during routine post-landing checks, and the airline decided to do a comprehensive check.

      It was scheduled to depart for Mumbai at 2 am, but passengers came to know of the problems only after 2.40 am when the crew announced there was a problem with the left engine, according to a PTI reporter who was on the flight.

      However, this announcement was accompanied by a specific promise, that the snag will take up to 25 minutes to get sorted, the reporter said.

      However, as the clock ticked by, distraught passengers having connecting flights from Mumbai started enquiring about the progress of the work with the cabin crew, but there was no clear response, the reporter said.

      With the Ahmedabad accident being fresh, some passengers also said a delay is better than a mishap, while some wondered how an aircraft which had travelled thousands of kilometres could face problems in the last leg from Kolkata to Mumbai.

      The next announcement came at 4.20 am when the pilots sought another 15-20 minutes for rectification of the problem.

      The engineers could be seen working on the left engine even as a drizzle continued, but the problem persisted. Finally, around 5.20 am, the pilots announced that a resolution was not possible and asked all passengers to deplane.

      After disembarking and passing the mandatory immigration, collecting baggage and passing the customs channels, the passengers were asked to sit in a designated area.

      A few passengers pleaded with officials asking for the earliest option to travel to Mumbai. Some got lucky, while others continued to wait.

      Finally, an Air India official announced that Mumbai-bound flights were mostly full and convinced a bulk of the passengers to check into a hotel. PTI IAS AA ANZ BAL BAL

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