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    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    AU Small Finance Bank Savings Accounts: Competitive Interest Rates, Zero-Balance Digital Account Opening and 24x7 Mobile Banking
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    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
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.

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      Sarkozy describes his prison stay, advises on appealing to the far right in his new book

      December 11, 2025

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      Paris, Dec 11 (AP) Former French President Nicolas Sarkozy described the prison where he spent 20 days as a noisy, harsh "all-grey" world of "inhuman violence" in a book released Wednesday that also offered political advice about how his conservative party should appeal to far-right voters.

      In "Diary of a Prisoner," the 70-year-old says his own tough-on-crime stance has taken on a new perspective as he recounts the uncommon turn in his life after being found guilty of criminal association in financing his winning 2007 campaign with funds from Libya.

      Hundreds of supporters queued up on Wednesday at a bookshop in a Paris upscale residential neighbourhood where Sarkozy staged his first book signing.

      The court sentenced him in September to five years in prison, a ruling he appealed. He was granted release under judicial supervision after 20 days behind bars.

      The book provides a rare look inside Paris' La Santé prison, where Sarkozy was held in solitary confinement and kept strictly away from other inmates for security reasons. His loneliness was broken only by regular visits from his wife, supermodel-turned-singer Carla Bruni-Sarkozy, and his lawyers.

      Sarkozy wrote that his cell looked like a "cheap hotel, except for the armoured door and the bars," with a hard mattress, a plastic-like pillow and a shower that produced only a thin stream of water. He described the "deafening noise" of the prison, much of it at night.

      Opening the window on his first day behind bars, he heard an inmate who "was relentlessly striking the bars of his cell with a metal object." "The atmosphere was threatening. Welcome to hell!" Sarkozy said he declined the meals served in small plastic trays along with a "mushy, soggy baguette" -- their smell, he wrote, made him nauseous. Instead, he ate dairy products and cereal bars. He was allowed one hour a day in a small gym room, where he mostly used a basic treadmill.

      Sarkozy says he was informed of several violent incidents that took place during his time behind bars, which he called "a nightmare." "The most inhumane violence was the daily reality of this place," he wrote, raising questions about the prison system's ability to reintegrate people once their sentences are served.

      Sarkozy, known for his tough rhetoric on punishing criminals, said he promised himself that "upon my release, my comments would be more elaborate and nuanced than what I had previously expressed on all these topics." Political reflections Beyond recounting prison life, Sarkozy used the book to offer strategic political advice for his conservative Republicans party and revealed he spoke by phone from prison with far-right leader Marine Le Pen, once a fierce rival.

      Le Pen's National Rally is "not a danger for the Republic," he wrote. "We do not share the same ideas when it comes to economic policy, we do not share the same history … and I note that there may still be some problematic figures among them. But they represent so many French people, respect the results of the elections and participate in the functioning of our democracy." Sarkozy argued that the reconstruction of his weakened Republicans party "can only be achieved through the broadest possible spirit of unity." The Republicans party has in recent years been moving away from a position held among parties for decades that any electoral strategy must be aimed at containing the far right, even if it means losing a district to another competitor.

      Still, political analyst Roland Cayrol said Sarkozy's comments came like "a thunderclap" in the decades-long position of French conservatives that the National Rally does not "share the same values" and "no electoral alliance is possible" with the far right.

      The former president from 2007 to 2012 has been retired from active politics for years but remains very influential, especially in conservative circles.

      In the wake of Sarkozy's comments, the Republicans' top officials have stopped short of calling for any actual cooperation deal with the National Rally, but instead indicated they want to focus on ways to get far-right voters to choose conservative candidates.

      Strained ties with Macron Sarkozy also mentioned his former friendship with centrist President Emmanuel Macron. The two men met at the Élysée presidential palace just days before Sarkozy entered prison.

      According to Sarkozy, Macron raised security concerns at La Santé prison and offered to transfer him to another facility, which he declined. Instead, two police officers were assigned to the neighbouring cell to protect him around the clock.

      Sarkozy said he lost trust in Macron after the president did not intervene to prevent him from being stripped of the Legion of Honor, France's highest distinction, in June.

      Last month, Sarkozy was convicted of illegal campaign financing of his 2012 re-election bid, in a major blow to his legacy and reputation. He was sentenced to a year in prison, half of it suspended, which he now will be able to serve at home, monitored with an electronic bracelet or other requirements to be set by a judge.

      Last year, France's top court upheld an appeals court decision that had found Sarkozy guilty of trying to bribe a magistrate in exchange for information about legal proceedings in which he was involved. (AP) RUK RUK

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