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    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
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    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
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    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
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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.

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      Death toll in central Texas flash floods rises to 79 as sheriff says 10 campers remain missing

      July 7, 2025

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      Kerrville (Texas), Jul 7 (AP) Families sifted through waterlogged debris Sunday and stepped inside empty cabins at Camp Mystic, an all-girls summer camp ripped apart by flash floods that washed homes off their foundations and killed at least 79 people in central Texas.

      Rescuers maneuvering through challenging terrain continued their desperate search for the missing, including 10 girls and a counsellor from the camp. For the first time since the storms began pounding Texas, Governor Greg Abbott said there were 41 people confirmed to be unaccounted for across the state and more could be missing.

      In Kerr County, home to Camp Mystic and other youth camps in the Texas Hill Country, searchers have found the bodies of 68 people, including 28 children, Sheriff Larry Leitha said in the afternoon.

      He pledged to keep searching until “everybody is found” from Friday's flash floods. Ten other deaths were reported in Travis, Burnet, Kendall, Tom Green and Williamson counties, according to local officials. The death toll is certain to rise over the next few days, said Colonel Freeman Martin of the Texas Department of Public Safety.

      The governor warned Sunday that additional rounds of heavy rains lasting into Tuesday could produce more life-threatening flooding, especially in places already saturated.

      Families were allowed to look around the camp beginning Sunday morning. One girl walked out of a building carrying a large bell. A man, who said his daughter was rescued from a cabin on the highest point in the camp, walked a riverbank, looking in clumps of trees and under big rocks.

      A woman and a teenage girl, both wearing rubber waders, briefly went inside one of the cabins, which stood next to a pile of soaked mattresses, a storage trunk and clothes. At one point, the pair doubled over, sobbing before they embraced.

      One family left with a blue footlocker. A teenage girl had tears running down her face looking out the open window, gazing at the wreckage as they slowly drove away.

      Searching the disaster zone While the families saw the devastation for the first time, nearby crews operating heavy equipment pulled tree trunks and tangled branches from the water as they searched the river.

      With each passing hour, the outlook of finding more survivors became even more bleak. Volunteers and some families of the missing who drove to the disaster zone searched the riverbanks despite being asked not to do so.

      Authorities faced growing questions about whether enough warnings were issued in an area long vulnerable to flooding and whether enough preparations were made.

      President Donald Trump signed a major disaster declaration Sunday for Kerr County, activating the Federal Emergency Management Agency to Texas.

      The president said he would likely visit Friday. “I would have done it today, but we'd just be in their way,” he told reporters before boarding Air Force One back to Washington after spending the weekend at his golf club in Bedminster, New Jersey. “It's a horrible thing that took place, absolutely horrible.” The destructive, fast-moving waters rose 26 feet (8 meters) on the river in only 45 minutes before daybreak Friday, washing away homes and vehicles. The danger was not over as flash flood watches remained in effect and more rain fell in central Texas on Sunday.

      Searchers used helicopters, boats and drones to look for victims and to rescue people stranded in trees and from camps isolated by washed-out roads. Officials said more than 850 people were rescued in the first 36 hours.

      Prayers in Texas — and from the Vatican Governor Greg Abbott vowed that authorities will work around the clock and said new areas were being searched as the water receded. He declared Sunday a day of prayer for the state.

      "I urge every Texan to join me in prayer this Sunday — for the lives lost, for those still missing, for the recovery of our communities, and for the safety of those on the front lines,” he said in a statement.

      In Rome, Pope Leo XIV offered special prayers for those touched by the disaster. History's first American pope spoke in English at the end of his Sunday noon blessing, “I would like to express sincere condolences to all the families who have lost loved ones, in particular their daughters who were in summer camp, in the disaster caused by the flooding of the Guadalupe River in Texas in the United States. We pray for them.” The hills along the Guadalupe River are dotted with century-old youth camps and campgrounds where generations of families have come to swim and enjoy the outdoors. The area is especially popular around the Independence Day holiday, making it more difficult to know how many are missing.

      Harrowing escapes from floodwaters Survivors shared terrifying stories of being swept away and clinging to trees as rampaging floodwaters carried trees and cars past them. Others fled to attics inside their homes, praying the water wouldn't reach them.

      At Camp Mystic, a cabin full of girls held onto a rope strung by rescuers as they walked across a bridge with water whipping around their legs.

      Among those confirmed dead were an 8-year-old girl from Mountain Brook, Alabama, who was at Camp Mystic, and the director of another camp up the road.

      Two school-age sisters from Dallas were missing after their cabin was swept away. Their parents were staying in a different cabin and were safe, but the girls' grandparents were unaccounted for.

      Locals know the Hill Country as “ flash flood alley” but the flooding in the middle of the night caught many campers and residents by surprise even though there were warnings.

      Warnings came before the disaster The National Weather Service on Thursday advised of potential flooding and then sent out a series of flash flood warnings in the early hours of Friday before issuing flash flood emergencies — a rare alert notifying of imminent danger.

      At the Mo-Ranch Camp in the community of Hunt, officials had been monitoring the weather and opted to move several hundred campers and attendees at a church youth conference to higher ground. At nearby Camps Rio Vista and Sierra Vista, organisers also had mentioned on social media that they were watching the weather the day before ending their second summer session Thursday.

      Authorities and elected officials have said they did not expect such an intense downpour, the equivalent of months' worth of rain for the area.

      Kerrville City Manager Dalton Rice said authorities are committed to a full review of the emergency response, including how the public was alerted to the storm threat.

      Trump, asked whether he was still planning to phase out the Federal Emergency Management Agency, said that was something “we can talk about later, but right now we are busy working.” He has previously said he wants to overhaul if not completely eliminate FEMA and has been sharply critical of its performance.

      Trump also was asked whether he planned to rehire any of the federal meteorologists who were fired this year as part of widespread government spending reductions.

      “I would think not. This was a thing that happened in seconds. Nobody expected it. Nobody saw it. Very talented people there, and they didn't see it,” the president said. (AP) OZ OZ

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