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    Sensex trades higher, Nifty flat post RBI policy
    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
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    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    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
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    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
    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
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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.

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      PBS, NPR stations struggle with Trump-fuelled government funding cuts

      September 1, 2025

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      New York, Aug 31 (AP) Coping with a sudden loss in federal funding, PBS affiliate KSPS in Spokane, Washington, faced a surprise extra hurdle. Many of its contributing members — at one point almost half — lived in Canada, and they were withdrawing support out of anger at President Donald Trump's desire to make the country the 51st member of the United States.

      When Congress decided this summer to eliminate USD1.1 billion allocated to public broadcasting, it left some 330 PBS and 246 NPR stations, each with unique issues related to their communities and history, to figure out what that means.

      Many launched emergency fund drives and are heartened by the response. The national NPR and PBS networks are reducing expected dues payments, and a philanthropic effort focused on the hardest-hit stations is taking shape. No stations have shut down, but job and programming cuts are already beginning.

      In Spokane, KSPS has always tried to keep its requests for member donations separate from appeals for public funding. Not anymore. Congress left the station with a USD1.2 million hole to fill, about 18% of its budget, and the station is using that as a pretext to seek help from listeners.

      “We have definitely seen some attrition from our Canadian members,” said Skyler Reep, the station's interim general manager.

      Pleas for donations exceed expectations in many parts of country Long suspicious of a liberal bent to public media news coverage, Republicans in Congress responded to President Donald Trump's wishes in July and eliminated funding for the systems. The Corporation for Public Broadcasting, which distributes the funding, has taken steps to shut down.

      In some parts of the country, the answer to pleas for help have exceeded expectations. Public radio station WHQR in Wilmington, N.C. raised more than USD200,000 in three days, filling a USD174,000 hole and then some. It's a small community growing fast with an influx of retirees, many who depend on the station's news to learn about their new home, said general manager Kevin Crane.

      With USD525,000 gone from its budget, Hawaii Public Radio has already raised USD650,000 in an emergency fund drive. “It's a validation that what you're doing is essential to the community and is appreciated by the community,” said Meredith Artley, president and CEO. The 2023 wildfires in Maui and their aftermath were covered steadily by Hawaii Public Radio news reporters.

      “The initial response in terms of support for both stations and the NPR network has been extraordinary,” said Katherine Maher, NPR president. “People did a lot of work leading up to the vote, in actions and calls. When that did not prove convincing, they turned to direct support.” Stations across the country have stories that make them smile: the youngster from Florida who collected money for public stations in Alaska, sending a note written in crayon; the regular USD300 donor who came in to PBS SoCal with a USD100,000 check, one of three six-figure donations the station has received.

      Most stations aren't in areas with so many wealthy donors. Most station managers are like Jeff Hanks of PBS' LPTV in Lakeland, Minnesota. He lies awake wondering where he will find USD1 million to pay for things like his station's nightly newscast, a primary news source for central and northern Minnesota.

      “These are extremely, extremely challenging times,” Hanks said. “We're fighting hard every way we can.” He knows membership donations won't make up for what is missing. Both PBS and NPR have taken steps to reduce the annual dues that stations pay for programming and other services. At PBS, it's an average 15% reduction, but needy stations get more — in one case, more than half of next year's dues will be forgiven, said PBS president Paula Kerger.

      Adopting stations in poorer, more rural areas NPR is encouraging donors in wealthier areas to adopt stations in poorer ones, perhaps in an area where a contributor has emotional ties.

      Public media leaders are also working with a group of philanthropists led by the Knight and MacArthur foundations that is hoping to raise some USD50 million to support stations in areas hardest hit be the cuts. Ed Ulman, president and CEO of Alaska Public Media, which represents nearly two dozen radio and television stations in the largest state, said he'll be seeking money from this fund.

      Ulman said he's been buoyed by the response from Alaskans in their effort to raise USD15 million through various sources by October. The services their stations provide is free, and citizens see its value.

      “I've never been worried about the future of public television or radio because our community needs us,” he said, “and what we've seen in Alaska is an outcry about that.” Still, Alaska Public Media has suspended the weekly public affairs television show “Alaska Insight,” which isn't returning after a summer hiatus. The future of “Indie Alaska,” a weekly video series highlighting the lives of Alaskans, is also in danger.

      Some stations are already making the difficult decisions of cutting staff, In Spokane, for example, 12 of KSPS's 35 staff members have either been laid off, had their hours reduced or pay cut. Reep is also considering that future seasons of local shows like “Northwest Profiles” or the arts showcase “Inland Sessions” will have fewer episodes.

      Similar programming decisions are also being weighed on a national level. While several upcoming shows, like Ken Burns' six-part miniseries “The American Revolution” scheduled for November, are completed, PBS will have to consider making shorter seasons of its series, Kerger said.

      “We're working very hard so that the public doesn't feel that there's a change,” Kerger said.

      Looking for ways to share services Between an increase in donations and “rainy day” resources set aside, the initial impact of the government action may be minimized. But that brings its own worries: It's unlikely public media will be able to count on sympathy donors to the same extent in the future. And there's a risk that some politicians will feel the response proves that public support isn't necessary.

      The bigger reckoning may come a year from now, Kerger said. “I am a realist,” she said. “I have to believe that there are some vulnerable stations that are not going to make it.” The crisis is forcing some public stations to work together, searching for ways to share services in areas not before contemplated, in things like finances, management and programming, said Andy Russell, president and CEO of PBS SoCal. Public stations in Washington are meeting to see if they can get state financing.

      In Los Angeles, PBS SoCal has shared some of its templates for fundraising appeals with other stations. Several celebrities — people like Kerry Washington, Jack Black, Ziggy Marley, John Lithgow and John Leguizamo — have volunteered to film pitches, and the station is making them available nationwide, too, said Maura Daly Phinney, senior vice president for membership engagement and strategy.

      “We're going to make it,” Phinney said. “The system is going to be different. But we're going to make it.” (AP) NB NB

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