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    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
    Rupee falls 3 paise to close at 95.40 against US dollar
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
    Show AI Summary
    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      US shoots Iranian drone as Iran's president seeks 'fair, equitable negotiations'

      February 4, 2026

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      Dubai, Feb 4 (AP) Iran's president said on Tuesday that he instructed the country's foreign minister to "pursue fair and equitable negotiations" with the United States, the first clear sign from Tehran it wants to try to negotiate as tensions remain high with Washington after the Mideast country's bloody crackdown on nationwide protests last month.

      But possible talks were thrust into question hours later when US Central Command said a US Navy fighter jet shot down an Iranian drone that was approaching an American aircraft carrier early Tuesday morning. The Iranian Mission to the UN did not immediately comment on the incident.

      White House press secretary Karoline Leavitt acknowledged that Trump special envoy Steve Witkoff has been planning to hold talks with Iranian officials in Turkey later this week. It was the first direct acknowledgment of the talks by the White House.

      "These talks, as of right now, are still scheduled," Leavitt said in response to whether the drone incident could impact Witkoff's planned talks with Iran's Foreign Minister Abbas Araghchi. "President Trump is always wanting to pursue diplomacy first, but obviously it takes two to tango," Leavitt said. "You need a willing partner to achieve diplomacy and that's something that special envoy Witkoff is intent on exploring and discussing." The shift toward negotiations marked a major turn for reformist President Masoud Pezeshkian, who had broadly warned Iranians for weeks that the turmoil in his country had gone beyond his control. It also signals that the president received support from Iran's Supreme Leader Ayatollah Ali Khamenei for talks that the 86-year-old cleric previously had dismissed.

      US shoots down drone US Central Command said the drone "aggressively approached" the aircraft carrier on Tuesday, just before sunrise, with "unclear intent" and it "continued to fly toward the ship despite deescalatory measures taken by US forces operating in international waters." The Shahed-139 drone was shot down by an F-35C fighter jet from the USS Abraham Lincoln, which was sailing about 805 kilometres from Iran's southern coast, Hawkins said.

      In a separate incident later on Tuesday, Iran's Islamic Revolutionary Guard Corps forces harassed a merchant vessel flying the American flag and carrying an American crew, Central Command spokesman Captain Tim Hawkins said in a statement.

      Two boats and an Iranian Mohajer drone approached the ship, Stena Imperative, "at high speeds and threatened to board and seize the tanker,' Hawkins' statement said.

      The position of the incident appeared to be in Iranian territorial waters, according to the British military's United Kingdom Maritime Trade Operations Centre. Iran had warned of a naval drill by the paramilitary Revolutionary Guard in recent days.

      The destroyer USS McFaul responded and escorted the Stena Imperative with defensive air support, the statement said, adding that the merchant vessel was now sailing safely.

      Turkey attempting to broker negotiations Turkey had been working behind the scenes to make the talks happen there later this week as US Mideast envoy Steve Witkoff is travelling in the region. A Turkish official later said the location of talks was uncertain but that Turkey was ready to support the process.

      Foreign ministers from Oman, Pakistan, Qatar, Saudi Arabia and the United Arab Emirates have also been invited to attend the talks, if they happen, according to the official who spoke on condition of anonymity as they did not have permission to speak to journalists.

      But whether Iran and the US can reach an agreement remains to be seen, particularly as US President Donald Trump now has included Iran's nuclear programme in a list of demands from Tehran in any talks. Trump ordered the bombing of three Iranian nuclear sites during the 12-day war Israel launched against Iran in June.

      On Tuesday, Araghchi spoke by phone with his counterparts from Oman, Qatar, Turkey and Kuwait, but did not mention anything about a possible venue.

      Witkoff meets with Netanyahu in Israel Witkoff met with Israeli Prime Minister Benjamin Netanyahu on Tuesday and discussed plans for disarming Hamas ahead of possible reconstruction and the situation in Iran, Netanyahu's office said.

      Netanyahu warned Witkoff that "Iran has repeatedly proven it cannot be trusted to meet its commitments." Israel demands that any agreement with Iran include removing enriched uranium from the country, stopping the enrichment of uranium, limiting the creation of ballistic missiles and ending support for Tehran's proxies, according to an official familiar with the talks who spoke on the condition of anonymity because they were not authorised to speak to the media.

      "Right now, we're talking to them, we're talking to Iran, and if we could work something out, that'd be great," Trump told reporters in the Oval Office on Monday. "And if we can't, probably bad things would happen." Mike Pompeo, a hard-liner on Iran who served as CIA director and secretary of state in Trump's first term, said it was "unimaginable that there can be a deal." "I think they may come away with some set of understandings," Pompeo said at Dubai's World Governments Summit. "But to think that there's a long-term solution that actually provides stability and peace to this region while the ayatollah is still in power is something I pray for but find unimaginable." Khamenei adviser speaks on the nuclear issue Late Monday, the pan-Arab satellite channel Al Mayadeen, which is politically allied with the Iranian-backed Lebanese militant group Hezbollah, aired an interview with Ali Shamkhani, a top Khamenei adviser on security.

      He suggested that if the talks happened, they would be indirect at the beginning, and move to direct talks only if a deal appeared to be attainable. Direct talks with the US long have been a highly charged political issue within Iran's theocracy, with reformists like Pezeshkian pushing for them and hard-liners dismissing them.

      The talks would solely focus on nuclear issues, he added.

      "Iran does not seek nuclear weapons, will not seek a nuclear weapon and will never stockpile nuclear weapons, but the other side must pay a price in return for this," he said.

      Iran had been enriching uranium up to 60 per cent purity, a short, technical step away from weapons-grade levels. The International Atomic Energy Agency had said Iran was the only country in the world to enrich to that level that wasn't armed with the bomb.

      Iran has been refusing requests by the IAEA to inspect the sites bombed in the June war.

      "The quantity of enriched uranium remains unknown, because part of the stockpile is under rubble, and there is no initiative yet to extract it, as it is extremely dangerous," Shamkhani said. (AP) RUK RUK

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