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    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
    Bihar Police arrests man over alleged exam irregularities
    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
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August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
August 19, 2026
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Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
August 19, 2026
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Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
August 18, 2026
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Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification.
Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
August 18, 2026
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Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities.
Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.
August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.

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Customs & Trade

Trump wraps up UK state visit with gratitude for his hosts while largely sidestepping tough issues

September 19, 2025

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Aylesbury (UK), Sep 18 (AP) President Donald Trump said Thursday that he was “tremendously thankful” for the pageantry and splendour lavished on him during his second state visit to the United Kingdom as he wrapped up a trip that largely sidestepped major public disagreements over difficult trade and geopolitical issues.

The mutual warmth, along with Trump's abundance of kind words bestowed on the host country, suggested that an all-out charm offensive by the royal family and British Prime Minister Keir Starmer had its desired effect, even though there was a notable lack of progress on some key matters.

Trump and Starmer signed what both sides hailed as a historic agreement on science and technology, and they held a roundtable with global business leaders where they suggested the deal could mean significant job gains. Among the topics tackled mostly in private talks between Trump and Starmer were the wars in Ukraine and Gaza and US tariff rates on steel imported from Britain.

"The bond between our countries is like no other anywhere in the world,” Trump said at a news conference at Chequers, a 16th-century manor house northwest of London that serves as a rural retreat for British leaders. The US and UK, the American president said, have “done more good for the planet than any other nation in history”.

Joining in the bonhomie, Starmer said "time and time again, it is British and American men and women, side by side, changing the path of history and turning it towards our values, towards freedom, democracy and the rule of law.” The mutual admiration followed King Charles III and Queen Camilla's feting of Trump and first lady Melania Trump at Windsor Castle on Wednesday with all the pomp the monarchy can muster, including the biggest military honour guard ever assembled for a state visit.

Trump called the king and queen “two fantastic people" and said he was" “tremendously thankful” and “grateful beyond words" for the hospitality.

Even high-profile points of dissent, such as Britain's impending move to recognize a Palestinian state, stayed cordial. “I have a disagreement with the prime minister on that score,” Trump said, adding that "it's one of our few disagreement, actually.” When Trump was asked about his lack of progress in brokering a deal to end Moscow's war in Ukraine and he acknowledged that Russian President Vladimir Putin has ”let me down," Starmer escalated the flattery a notch. The prime minister said he and Trump had discussed how to "decisively increase the pressure on Putin” and that Trump had “led the way here.” There was disagreement, too, over immigration policy.

Trump urged Britain to take a harder line and insisted he had made clear to Starmer that when too many people enter illegally, it “destroys countries from within." Still, when Starmer sharply criticised Hamas, Trump reached over from his podium and slapped the prime minister on the back in support.

At an earlier signing ceremony for the agreement meant to promote tech investment, Starmer referred to the Republican president as “my friend, our friend” and spoke of “leaders who respect each other and leaders who genuinely like each other.” The Trumps' final day in Britain began by bidding farewell to the king and queen at Windsor Castle and flying by helicopter to Chequers for more spectacle: a ceremonial honor guard with bagpipers, in a nod to Trump's Scottish heritage, and a parachute demonstration. He also was shown the archive of wartime leader Winston Churchill, who coined the term “special relationship” for the bond between the allies.

It's something Trump's British hosts have stressed repeatedly, almost 250 years after that relationship endured a rocky start in 1776.

To coincide with the visit, Britain said US companies had pledged 150 billion pounds ($204 billion) in investment in the UK, including 90 billion pounds ($122 billion) from investment firm Blackstone in the next decade. Investment will also flow the other way, including almost $30 billion by pharmaceutical firm GSK in the US.

UK officials say the deal will bring thousands of jobs and billions in investment in artificial intelligence, quantum computing and nuclear energy. It includes a UK arm of Stargate, a Trump-backed AI infrastructure project led by OpenAI, and a host of AI data centres around the UK American companies are announcing 31 billion pounds ($42 billion) in investment in the UK's AI sector, including $30 billion from Microsoft for products including Britain's largest supercomputer.

British officials said they have not agreed to scrap a digital services tax or water down internet regulation to get the deal, some details of which have yet to be announced.

There was less movement on tariffs.

In May, Starmer and Trump said they had agreed to reduce US tariffs on Britain's key auto and aerospace industries. Talks on lowering duties on steel and aluminum to zero from their current level of 25% have stalled even with a promise four months ago of a settlement within weeks.

The British government has grown increasingly critical of Israel's conduct in Gaza and the suffering of Palestinian civilians. Starmer said the situation was “a humanitarian catastrophe” as he acknowledged a divide with the president on recognising a Palestinian state.

While the prime minister has played a major part in European efforts to shore up US support for Ukraine, Trump's visit offered few major advancements, Trump has expressed frustration with Putin, but has not made good on threats to impose new sanctions on Russia. The king, in his state banquet speech Wednesday night, offered Trump a gentle nudge, noting “as tyranny once again threatens Europe, we and our allies stand together in support of Ukraine, to deter aggression and secure peace”.

It seemed like questions about Jeffrey Epstein would dog Trump throughout the trip, especially given that his visit began days after Starmer fired Britain's ambassador to the US, Peter Mandelson, over the envoy's past friendship with the convicted sex offender, who authorities say killed himself in 2019.

But Trump largely avoided the issue. Police did arrest four people over a stunt that saw an image of Trump and Jeffrey Epstein projected on a tower at Windsor Castle.

Asked about Mandelson during the news conference, Trump said only that he did not know the former ambassador, despite photographs showing the pair together in the Oval Office. (AP) SCY SCY

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