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    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
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    Meeting of Heads of National Statistical Offices of BRICS Countries “Quality Statistics as Driver of Change”
    Modernization of National Sample Surveys through adoption of digital platforms such as Computer Assisted Personal Interview (CAPI) integrated with e- ...
    Govt hikes windfall gains tax on petrol, diesel, ATF exports
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    Every ₹1 invested under Kisan Credit Card– Modified Interest Subvention Scheme (KCC-MISS) contributes ₹2.30 to net value addition in the...
    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
    Rupee rises for 6th day, gains 12 paise to 95.31 against US dollar as crude drops
    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
    Rajya Sabha passes bill to tackle payment delays faced by MSMEs amid Opposition protests
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    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.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
    Show AI Summary
    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.
    August 3, 2026
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    Concessional agricultural credit supports working capital, crop diversification, allied activities, and digital expansion under the Kisan Credit Card scheme.
    The Kisan Credit Card-Modified Interest Subvention Scheme provides concessional institutional credit to reduce farmers' interest burdens and improve timely working-capital access. The scheme is reported to support cropping intensity, multi-season cultivation, diversified crop portfolios, timely input use, and credit discipline through the Prompt Repayment Incentive. It also supports dairy, livestock, and fisheries-based income diversification. Credit-delivery measures include collateral-free lending, digital platforms, simplified applications, coverage expansion, and awareness campaigns. State-wise data tracks operative accounts, outstanding credit, and non-performing Kisan Credit Card accounts.
    August 3, 2026
    Show AI Summary
    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.

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      Lockheed Martin pitches C-130Js as 'best' choice for IAF's tactical airlift requirement, plans production hub in India

      December 28, 2025

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      Marietta (US), Dec 28 (PTI) As India prepares to procure up to 80 military transport planes, US aerospace major Lockheed Martin has pitched its C-130J Super Hercules as the best choice and said an additional fleet of the aircraft will provide it a "stronger" heft for tactical airlift among the Quad nations.

      If Lockheed Martin gets the opportunity, then it will set up a mega hub in India to produce the "iconic" aircraft and it will be the first such global facility outside of the US, top officials of the company told PTI.

      To date, Lockheed Martin has delivered more than 560 aircraft from the C-130J Super Hercules family, which have accumulated more than three million flight hours. The leading tactical airlift has been serving 28 operators in 23 nations.

      The Indian Air Force (IAF) currently operates 12 C-130Js.

      Alongside the standard transport variant, Lockheed Martin offers multiple specialised configurations of the C-130J which enable the aircraft to perform intelligence, electronic warfare, special forces support, search and rescue and command roles.

      Besides India, the three other Quad member nations -- the US, Australia and Japan -- have been operating C-130Js.

      "The C-130J Super Hercules offers superior performance and capabilities for every theatre of operations. This aircraft will be the best option for India," Patricia Trish Pagan, Vice President, Air Mobility and Maritime Missions at Lockheed Martin, said.

      In 2022, the IAF issued a Request for Information (RFI) to purchase medium transport aircraft (MTA) to replace its ageing fleet of Soviet-era AN-32 and IL-76 planes.

      The IAF plans to procure around 80 military transport aircraft and the multi-billion dollar procurement is likely to be cleared by the Defence Acquisition Council in the next few weeks.

      Brazilian plane maker Embraer's KC-390 Millennium aircraft and Airbus Defence and Space's A-400M plane are also in the race for the MTA programme.

      The US defence major has partnered with Tata Advanced Systems to bid for the C-130J Super Hercules programme.

      Currently, Lockheed Martin is in the process of incorporating new innovations into the C-130Js, including Distributed Aperture System (DAS) that is a key component onboard the F-35 Lightning combat jets.

      The DAS is a spherical sensor suite with six infrared cameras providing rigorous situational awareness, missile warning, and night vision for pilots.

      Roderick McLean, Vice President, Sustainment Operations at Lockheed Martin Aeronautics said the MTA programme can impart a "new strategic value" to India-US partnership as it will allow both sides to strengthen defence industrial base.

      McLean also asserted that there is no tactical airlift plane in history that matches the relevance and versatility of the C-130Js as it benefitted from over 70 years of innovation and new features like artificial intelligence are being incorporated.

      "We are doing a lot on connectivity to be able to connect systems from seabed up to space. We are looking at all of the connectivity systems that we have and how do we bring those systems into the C-130Js and how do we make them available to meet the needs of the IAF and others around the world," he said.

      "The value the C-130Js provide is not only what it does today, but it is what it will be able to do in the future through continuous innovation and also allow the IAF to partner with Lockheed Martin to leverage the strength of the company," he added.

      McLean said the MTA programme will be a very major opportunity for future growth of the C-130J fleet. "It represents the largest international opportunity for C-130s in its 70 years history." Robert Toth, the vice president, business development, air mobility and maritime missions at Lockheed Martin Aeronautics said the C130Js are a "symbol of hope" around the world and that it will be the right choice for India's MTA programme.

      "It (the aircraft) really is something that when you see it you know that something good is coming out of it." He said the C-130J Super Hercules has a proven track record as the IAF has been operating it for a variety of missions for the last several years.

      "The IAF understands what it takes to support, maintain and operate the airplane. It is not going to be an experiment starting out with something new. It is a proven, durable platform that they can operate with absolute confidence," he said.

      Tot described as very significant Lockheed Martin's plan to establish the first major production hub outside of the Marietta facility in India for the aircraft.

      "Out of the over 2,700 C-130s that have been built, only the first two prototype airplanes were built outside of Marietta. They were built in Burbank, California," he said.

      Toth said the proposed hub for manufacturing of the aircraft will also open doors for its possible exports to various other markets.

      "I think what you will see though is that there is further opportunity to have exports that will come back to the United States and potentially to all of our other operators around the world," he said.

      Toth argued that India procuring an additional fleet of C-130J Super Hercules will provide it an edge in the Quad, adding the aircraft has been a "centrepiece" of the air forces of the grouping's member nations.

      Australia is in the process of currently replacing their original fleet of C-130Js with brand new C-130Js. Japan is also planning to do the same.

      "The US inventory of C-130Js continues to grow. And we believe that India possessing more C-130Js through the India MTA programme gives it a stronger position for airlift within the Quad," Toth said.

      He also said that Lockheed Martin will be able to deliver the planes to India much faster than any of its competitors.

      "We are building between 20 and 24 airplanes a year here in Marietta, Recently, we produced as many as 36 airplanes a year here. And in some years we've produced even more than that." Toth said the company has the ability to increase the production rate to meet any global demand.

      "I believe we can meet the demand for India's initial airplanes faster than any of our competitors because of the production line we have out here today," he said.

      "I think we have the surge capacity to produce additional airplanes for India and with the production line that's going to be established in India produces surge capacity," he said.

      Lockheed Martin and Tata Advanced Systems have been jointly manufacturing C-130J empennages and other aerostructure assemblies in India for the last several years.

      Produced at Tata Lockheed Martin Aerostructures Limited (TLMAL) in Hyderabad, the C-130J tail or empennage is shipped to the US for integration into C-‘130J aircraft built in Marietta.

      Recently, TLMAL celebrated the delivery of its 250th C-130J tail.

      The defence MRO facility will join the existing global network of Lockheed Martin Certified Service Centres and will be strategically located to service the C-130J Super Hercules, KC-130J and C-130 B-H legacy aircraft in the future. PTI MPB DV DV

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