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    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
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    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
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    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
    MPC's 3-day meeting begins amid expectations of status quo on interest rates
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    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
    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
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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
    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.
    August 3, 2026
    Show AI Summary
    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
    Show AI Summary
    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.

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      Deficit in democracy; Constitution under challenge: Opposition's VP pick B Sudershan Reddy

      August 23, 2025

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      New Delhi, Aug 23 (PTI) Opposition vice presidential candidate B Sudershan Reddy on Saturday said there is a "deficit in democracy" in the country and the Constitution is "under challenge" as he pledged to defend and protect it.

      In a wide-ranging exclusive interview with PTI, Reddy dwelt on a range of issues -- from how his candidature came about, the debate on the words 'socialist' and 'secular' in the Preamble to the Constitution and to Union Home Minister Amit Shah's accusation that he supported Naxalism.

      Calling himself a liberal constitutional democrat, the Opposition's nominee for the vice presidential election said he does not subscribe to the RSS ideology and he is far away from it.

      He said disruptions in Parliament were essential in a democracy, but cautioned that they must not become an integral part of the democratic process.

      Reddy also sought to downplay the debate on the vice presidential election emerging as a "South versus South" contest, saying both he and NDA nominee C P Radhakrishnan were citizens of one country but lamented that the country's "polity stands fractured", leading to this contest.

      He talked about bringing back all black money stashed abroad, asserting that the nation's wealth must come back and said it was "work still in progress".

      The former Supreme Court judge said earlier there was a talk of "deficit economy", but now there is a "deficit in democracy", and claimed that though India continues to be a constitutional democracy, it is "under strain".

      He, however, welcomed the debate on whether the Constitution is under attack.

      Reddy said democracy is less about a clash between individuals and more about a clash between ideas, and wished ties between the government and the Opposition were better.

      A former chief justice of the Gauhati High Court, the Opposition's vice presidential nominee said his "journey of upholding the Constitution continues, ultimately culminating in, if given an opportunity, to protect and defend the Constitution".

      "All through my life, I was upholding the Constitution. If you give me an opportunity to serve this country, I will try to defend and protect the Constitution of India, which undoubtedly is coming under challenge. The message is, there is still the possibility of a reasonably good and healthy debate amongst ourselves in this country," he said.

      Reddy said he upheld the Constitution primarily as a judge in the past. "So, this journey is nothing new to me," he said.

      His unanimous candidature by the Opposition was a matter of honour for him, he said.

      "First, it represents diversity. Secondly, the unanimous choice. Thirdly, in terms of voting strength, if you make an analysis, they represent more than 63-64 per cent of the population. What else could be an honour," he said.

      On the argument that top constitutional posts should be filled by consensus reflecting national unity, he said, "I wish there could have been a consensus. But you know, the polity as it stands is a fractured one. In the circumstances, perhaps it is inevitable, leading to this contest." Reddy talked stressed that democracy in India is under strain.

      "Earlier, we used to talk about a deficit economy, (now) there is a deficit in democracy. I do not say that India is no longer a democratic country. I don't subscribe to that. We still continue to be a constitutional democracy, but under strain," he said.

      Explaining his point, he noted that earlier, the treasury and opposition benches used to coordinate on many national issues. "Unfortunately, we don't find that today," he said.

      The VP election is not a contest between him and Radhakrishnan, but a contest representing "two different ideologies".

      "... Here is a person, a quintessential RSS man... So far as I am concerned, I do not subscribe to that ideology and I am far, far, far, far away from it. I am essentially a liberal constitutional democrat. This is the area or rather the arena for the contest where the fight goes on," he said.

      Reddy also talked about the disruption of Parliament's business. Both Houses of Parliament witnessed an extraordinary ruckus for a major part of the recently finished Monsoon session.

      He quoted former BJP leader Arun Jaitley, who said "disruption also is a legitimate political activity and a parliamentary practice" to champion disruption as a form of dissent.

      "Disruption is nothing but one form of dissent. If you are not allowed to speak or express your views, this is one form of speaking. That's how I look at the disruption. Not that I wish that disruption should become an essential and an integral part of democratic process," Reddy said.

      On Amit Shah's attack on him over the Salwa Judum verdict, Reddy said, "I do not wish to join an issue directly with the Honourable Home Minister of India, whose constitutional duty and obligation is to protect the life, liberty and property of every citizen, irrespective of ideological differences. Secondly, I have authored the judgment. The judgment is not mine, the judgment is of the Supreme Court." In December 2011, Reddy, as a judge of the Supreme Court, ruled that using tribal youths as Special Police Officers -- whether called 'Koya Commandos' or Salwa Judum -- in the fight against Maoist insurgents was illegal and unconstitutional and ordered that they be immediately disarmed.

      He wished Shah read the judgment, which runs up to 40 pages. "If he had read the judgment, perhaps he would not have made that comment. That's all I say and leave it there... There must be decency in the debate," he asserted.

      He also threw his weight behind the caste survey, saying one has to first find out the percentage of those who need to be succoured and policies framed accordingly to empower them.

      Reddy headed the expert panel which conducted the survey and revealed that 84.6% of the population in Telangana belonged to the backward classes.

      "The Constitution doesn't speak about caste. If you have to classify a group together with some people as the backward classes, you have to find out their caste, their socio-economic conditions, their way of living, their access to power and the way they are recognised by the society. Caste survey has to be done," he said, adding that the Government of India has now included it in the Census.

      According to Reddy, the Constitution is an integral one and it means conventions and morality.

      "There are various steps taken by the government in power, making one feel legitimately that it is coming under challenge," he said, welcoming the debate that the Constitution is under attack and saying all should participate in it and express their opinion.

      On the controversy over the inclusion of 'socialist', 'secular' in the Preamble, he said, according to him, the expressions have made things explicit, which is otherwise in-built in the provisions of the Constitution.

      "Both the words which are made explicit, the ideas contained in the Constitution are welcome. It is true that the amendment came, that is 42nd Amendment, when the Emergency was invoked.

      "But, one must remember, the Jana Sangh which formed the government later, unanimously approved it. Therefore, one fails to understand with what intention that debate is being triggered," he said.

      On different narratives on Mahatma Gandhi, Jawaharlal Nehru and BR Ambedkar, Reddy said if you read the three superficially, some misconceptions and misunderstandings come to mind.

      "Quintessentially, all three of them were great democrats, republicans and (they) believed in the ethics and morals of the Constitution. I do not think it would be in the interest of the nation to divide them into three segments. And one supporting and the other opposing and creating a false narrative is not in the nation's interest," he stressed. PTI SKC KSS KSS

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