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    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
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    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      BMW Group India presents India Art Fair 2026

      February 5, 2026

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      (L-R) Jaya Asokan, Fair Director, India Art Fair and Hardeep Singh Brar, President and CEO, BMW Group India • Celebrating a Decade of Cultural Leadership and Innovation at the Intersection of Art, Design, and Technology. • ‘The Future is Born of Art’ Commission winner Afrah Shafiq showcases ‘A Giant Sampler’ across the India Art Fair façade. • BMW Concept Speedtop on exclusive display at BMW Collectors Lounge. Gurugram. BMW Group India returns as the presenting partner of the 17th edition of India Art Fair from 5 – 8 February 2026 at the NSIC Exhibition Grounds in New Delhi, marking a decade of the brand’s enduring commitment to cultural engagements in India. India Art Fair is the leading platform showcasing modern and contemporary art from India and South Asia and convenes audiences to explore a record 135 exhibitors, including 94 commercial galleries, presented alongside major regional and international art institutions. The fair welcomes 26 new exhibitors, marking its broadest showcase yet, continuing its mission to foreground the most compelling practices and voices from South Asia alongside major contemporary international artists and collectible design, reaffirming its position as leading site for the discovery of art and culture in the region. Mr. Hardeep Singh Brar, President and CEO, BMW Group India, said, “BMW Group India’s decade-long partnership with India Art Fair reflects our unwavering belief that culture, creativity, and innovation are inseparable pillars of progress. Through ‘The Future is Born of Art’ Commission and our presence at this vibrant platform, we celebrate the power of artistic expression to shape a sustainable and inclusive future. The BMW Concept Speedtop, showcased this year, symbolizes our commitment to pushing boundaries, where design, technology, and craftsmanship converge to inspire new horizons. Together with India Art Fair, we are proud to nurture a dynamic ecosystem where art and innovation fuel transformation, not just for the automotive world, but for society at large.” ‘The Future is Born of Art’ Commission: A Bold New Chapter Marking ten years of creative partnership with India Art Fair and five years of the landmark ‘The Future is Born of Art’ Commission, BMW Group India continues to champion emerging Indian artists on the global stage. The 2026 Commission, themed ‘Crafting in Continuum’, is awarded to Afrah Shafiq for her immersive installation ‘A Giant Sampler’, displayed prominently across the fair’s façade for the first time. Shafiq’s work reimagines progress as continuity, a harmonious coexistence of handcraft traditions, digital systems, and human touch. Drawing on embroidery motifs and textile practices linked to women’s histories, the installation integrates an interactive Augmented Reality (AR) experience, inviting visitors to engage with layered narratives of memory, movement, and transformation. The BMW wheel, rendered in cross-stitch, emerges as a contemporary emblem of precision, motion, and cyclical change, connecting the brand’s heritage with artistic innovation. As winners of the prestigious ‘Future is Born of Art’ Commission, led by BMW and India Art Fair, Afrah Shafiq joins the ranks of India’s most promising artistic voices. Previous winners, Non-Linear (Dennis Peter) and Cursorama (Yash Chandak) 2025, Sashikanth Thavudoz (2024), Devika Sundar (2023) and Faiza Hasan (2022), have set the stage with visionary works exploring community, materiality and ecology. Exclusive Showcase: BMW Concept Speedtop at the BMW Collectors Lounge The BMW Concept Speedtop embodies BMW’s seamless fusion of art, design, and innovation, presenting a bold vision of craftsmanship and performance. Its striking shark-nose front, illuminated kidney grille, flowing central spline, and distinctive Touring profile create a powerful presence, enhanced by a dramatic roof gradient from Floating Sunstone Maroon to Floating Sundown Silver and bespoke two-tone wheels. Inside, the precise craftsmanship from BMW’s Dingolfing plant defines a luxurious cabin with brogue style detailing, two-tone leather in Sundown Maroon and Moonstone White, and an ambient light beam inspired by the exterior spline. The leather finished trunk is thoughtfully divided for multi-day journeys. A collaboration with Italian leather specialist Schedoni adds bespoke luggage and behind seat storage, underscoring the concept’s exclusivity. Powered by BMW’s most powerful V8, the Concept Speedtop combines dramatic design with exhilarating performance. Limited to just 70 units worldwide, it offers collectors a rare opportunity to own a true automotive masterpiece. The Concept Speedtop reflects BMW Group’s commitment to cultural engagement and the convergence of art, technology, and future mobility. About BMW Group India Cultural Commitment The BMW Group has initiated and been engaged in hundreds of global cultural initiatives for over 50 years. From music to film, from architecture to design, contemporary art has played an essential role – via long-term institutional partnerships with major museums or partnering with the leading art fairs around the world, such as Art Basel and Frieze from Los Angeles, New York and Miami, to Seoul, Hong kong, Paris, and London. Since its inception, BMW India has participated in leading cultural engagements across the country. In 2007, two BMW Art Cars embellished by world-renowned artists Andy Warhol and Roy Lichtenstein were presented at the Jehangir Art Gallery in Mumbai. BMW Art Car by Andy Warhol, Jeff Koons, Sandro Chia and Cesar Manrique have been exclusively showcased at various editions of the India Art Fair. Since its inception in 2012, BMW has partnered with Kochi-Muziris Biennale, the contemporary art exhibition, which brings international artists to India and creates a global platform for Indian artists. In 2012-13, the innovative BMW Guggenheim Lab came to India. Based at Dr. Bhau Daji Lad Museum and conducted at six different venues in Mumbai, the lab organised six weeks of free programmes with diverse audiences and communities addressing the challenges and conditions of the urban city. In 2026, BMW Group India and India Art Fair celebrate ten years of partnership and five years of The Future is Born of Art Commission. A milestone that underscores their shared commitment to creativity, innovation and sustainability at the intersection of art, design and technology. About India Art Fair | Indiaartfair.in India Art Fair is the leading platform to discover modern and contemporary art from South Asia. Established in 2008, India Art Fair is the region’s premier modern and contemporary art fair, providing a unique access point to its thriving cultural scene, drawing together galleries, artists, private foundations, arts charities, artist collectives, national institutions, cultural events and festivals. Launching in 2025, IAF EDI+IONS is a new initiative designed as a series of curated showcases across India, reaffirming the fair’s commitment to expanding its regional footprint to celebrate the best of art and culture from across South Asia. Rooted in local cultural contexts while connected to global networks, IAD EDI+IONS extends the fair’s annual curatorial vision beyond Delhi, offering intimate yet impactful experiences for collectors, patrons and institutions, while celebrating the best of South Asian art and design. India Art Fair is owned and operated by Angus Montgomery Arts (AMA), a division of Angus Montgomery Ltd. If you have any queries, please contact: BMW Group India Richa Sharma, Head of Press and Corporate Affairs Cell: +91 9910022148; Tel: + 91 124 4566600; Email: [email protected] Satchit Gayakwad, Press and Corporate Affairs Cell: +91 9892579925; Tel: + 91 124 4566600; Email: [email protected] Internet: www.bmw.in Facebook: https://www.facebook.com/bmwindia X: https://x.com/bmwindia YouTube: https://www.youtube.com/user/bmwindia Instagram: https://www.instagram.com/bmwindia_official (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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