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    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
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July 31, 2026
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Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
July 31, 2026
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Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
July 31, 2026
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Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
July 31, 2026
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Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
July 31, 2026
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Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
July 31, 2026
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Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
July 31, 2026
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Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
July 31, 2026
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Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
July 31, 2026
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Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
July 30, 2026
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Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
July 30, 2026
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Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
July 30, 2026
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Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
July 30, 2026
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Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
July 30, 2026
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Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
July 30, 2026
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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.
July 30, 2026
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Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending.
United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
July 30, 2026
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Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty.
Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
July 30, 2026
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Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity.
Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
July 30, 2026
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Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations.
Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.
July 30, 2026
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Workplace culture recognition highlights continued investment in employee wellbeing, inclusion, learning, collaboration and growth at a stockbroking firm.
Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.

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Ajit Pawar's son 'lands' in trouble over Rs 300 cr Pune deal; govt orders probe, suspends official

November 6, 2025

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Pune, Nov 6 (PTI) A Rs 300-crore land deal in Pune involving a firm linked to Maharashtra Deputy Chief Minister Ajit Pawar's son Parth was embroiled in charges of irregularities and set off a political row on Thursday, prompting the government to order a high-level probe.

While Chief Minister Devendra Fadnavis said that the issue was "prima facie serious" and he had sought information from relevant departments, Ajit Pawar insisted he was in no way connected to the controversial deal.

The Opposition slammed the ruling Mahayuti comprising the BJP, Ajit Pawar's NCP and Eknath Shinde-led Shiv Sena, and demanded a judicial inquiry even as a First Information Report (FIR) was registered against three persons in the case.

The government has suspended a sub-registrar and set up a high-level committee to investigate alleged irregularities in the land deal.

Additional Chief Secretary (Revenue) Vikas Kharge will head the probe panel formed on Fadnavis's instructions, said officials.

Parth Pawar is yet to respond to the allegations.

The office of Inspector General of Registration (IGP) issued an order suspending R B Taru, Sub-Registrar attached to Haveli No. 4 office in Pune district, for alleged irregularities in document registration and allegedly causing a loss to the exchequer.

The action was based on a report submitted by the Joint District Registrar and Collector (Stamps), said the order.

According to an official, 40 acres of `Mahar Vatan' land belonging to the government in Pune's upmarket Mundhwa area was sold to a private firm, Amadea Enterprises LLP, represented by its partner Digvijay Amarsinh Patil, for Rs 300 crore, and the stamp duty on it was waived. Parth Pawar is also a partner in the firm, the official said.

The land was sold through one Shital Tejwani. The property had a total of 272 names and Tejwani was the power of attorney for the property. Being government land, the plot cannot be sold to a private firm, the official explained.

An FIR was registered at Bawdhan police station in Pimpri Chinchwad against Digvijay Patil, Shital Tejwani and Ravindra Taru on a complaint filed by joint district registrar Santosh Hingane under BNS sections 316 (5) (criminal breach of trust by public servant, etc) and 318 (2) (cheating) for allegedly causing a loss of Rs 6 crore to the government.

The accused allegedly colluded to execute a sale deed of land despite knowing it belonged to the government, the complaint said. Hingane's office had issued a written communication on May 9, informing that stamp duty of Rs 5.89 crore was payable and permission from the competent authority was mandatory, still the deed was executed without collecting the stamp duty, it added.

Inspector General of Registration Ravindra Binwade said the probe panel will find out how the government land was sold to a private firm and ascertain whether the exemption was given as per the norms.

"If it is government land, the registration (of its sale) should not have taken place," Binwade told PTI.

Sources in the revenue department claimed that on the `7/12 extract' (a key title document) the land is in the name of 'Mumbai Sarkar'. But the property card had names of 272 people.

Besides Parth Pawar, Digvijay Patil, in whose name the registration took place, has been shown as a co-partner in the private firm.

Amadea Enterprises LLP is registered at the address of a bungalow, located in Yashwant Ghadge Nagar in Pune, belonging to the Pawars.

According to the IGR office order, the sub-registrar (Taru) should have registered documents only after verifying that NOC from the competent authority was attached. In this case, the documents were registered without any NOC.

The document was registered with the payment of stamp duty of a mere Rs 500, availing exemption. However, though the exemption could have been allowed, there is a separate 2 per cent levy -- 1 per cent local body cess and 1 per cent metro cess - amounting to Rs 6 crore, which cannot be waived. Therefore, this resulted in a loss to the state exchequer, the order stated.

A senior official from the district collectorate said a tehsildar-rank officer, Suryakant Yewale, was suspended in another case on Thursday, though he was also under the scanner in the present land deal.

He said the district administration has initiated an inquiry against Yewale for allegedly allowing the transfer of Mahar Vatan land in the names of private individuals who subsequently sold it to Amadea LLP.

In the agreement, 272 individuals sold the Mundhwa land to Amadea through a power of attorney granted to Shital Tejwani.

Talking to reporters in Nagpur, CM Fadnavis said, "Prime facie, the issue looks serious. I've sought information concerning the case from relevant departments. Orders have been given to conduct a probe." Ajit Pawar separately told reporters he had nothing to do with the entire matter. "I am not even remotely connected to this. The chief minister should definitely probe this. It is his right," he said.

"Three-four months ago, I heard that some such things were going on. I had then clearly said that I won't tolerate any such wrongdoing. I had issued clear instructions that nobody should do such wrong things. I don't know what happened after that," the deputy CM claimed.

Ajit Pawar, who holds finance, planning and excise portfolios, also stated that he has never instructed any officer to ensure benefits for his relatives.

"When your children grow up, they do their own business," the NCP president stated.

Asked about the address in Pune where the company is registered, Pawar said the bungalow is owned by "Parth Ajit Pawar." State BJP minister Nitesh Rane, meanwhile, said, "Zero tolerance for corruption is the style of Chief Minister Fadnavis. Nobody will be spared." Industries Minister Uday Samant defended Parth Pawar, saying his documents were in order.

"He will respond to all the allegations. My department had nothing to do with the incentives and waivers given to the firm. Whether it belongs to the government or any other authority needs to be checked," Samant said.

The Opposition attacked the BJP-led government over the land deal.

Congress leader Vijay Wadettiwar demanded a judicial inquiry, alleging that the file related to the deal moved at "rocket speed".

Within hours, the Directorate of Industries not only approved the transfer of land to the company for an IT park and data centre but also waived stamp duty of Rs 21 crore, the Congress MLA claimed.

Shiv Sena (UBT) president Uddhav Thackeray said in Latur "nothing substantial will come out" of the probe, and the government will eventually give a "clean chit" to those involved. PTI SPK CLS AW MR ND COR NR NP VT RSY KRK

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