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February 7, 2026
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India US interim trade agreement links tariff relief to a commitment to stop direct or indirect imports of Russian oil.
The interim India-US trade framework commits both parties to promptly implement tariff reductions and to work toward a Bilateral Trade Agreement; removal of the additional 25 percent US tariff on Indian goods is conditioned on India's commitment to stop directly or indirectly importing Russian oil, with US monitoring and potential reinstatement of the penalty for non compliance. India will eliminate or reduce tariffs on a wide range of US industrial and agricultural products, and the parties intend to finalise implementing details in subsequent announcements.
February 7, 2026
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BMW Ventures reports deleveraging-driven profit rise and declares interim dividend, revises FY26 bottom-line guidance upward.
BMW Ventures reported material profit improvement driven by reduced finance costs after using IPO proceeds to repay debt, declared an interim dividend of Rs. 1.50 per share, and raised FY26 bottom line growth guidance to 30-35% on expectations of continued growth in higher margin fabricated steel products, stronger margins from operational resilience, and disciplined working capital management.
February 7, 2026
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House decorum: Debate is vital, but members must maintain dignity and follow legislative rules and procedures.
Maintaining the decorum of the House is essential: members must express views with dignity, know and follow legislative procedures, and avoid sloganeering, disruptions and entering the Well. The National e-Vidhan Application (NeVA) promotes paperless legislative processes by providing a cloud-based workflow with rules, notices, bills, questions and committee reports to aid members in conducting business transparently and efficiently.
February 7, 2026
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SBI posts record standalone profit, driven by loan growth, higher net interest income and a special dividend.
State Bank of India reported a record standalone Q3 profit of Rs 21,028 crore driven by 15.14% loan growth and higher Net Interest Income, aided by a Rs 2,200 crore special dividend from SBI Mutual Fund; deposits rose 9.02%, gross Non Performing Assets ratio improved to 1.57%, overall provisions increased, and Capital Adequacy was 14.04% with a 10.99% core buffer.
February 7, 2026
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Graduate-led tour service helps jobseekers earn a London Living Wage through flexible, part-time guided tours.
A graduate established a social-enterprise tour service to provide flexible part-time work for recent graduates, especially those on the Graduate Route visa, enabling them to earn the London Living Wage. The model offers bespoke, low-cost itineraries following a free online consultation, accommodates health and access needs, and requires payment at the meeting point. It aims to avoid exploitative zero-hour roles by delivering predictable earnings, potential tips, and mental-health support while allowing guides time to pursue formal job applications.
February 7, 2026
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Kameleo expands international presence with fast in store customised waterproof footwear and a scalable retail model aiming global growth.
Kameleo offers a rapid in store personalisation service assembling customised flip flops in under two minutes from modular style and colour options, combining comfort, waterproof durability, skin friendly materials, and accessible pricing. With a scalable retail model and 20 stores in South India, the brand plans international launches in several countries and aims to reach over 50 stores worldwide by the end of 2026, leveraging a founding team with combined business, design, and operational expertise to replicate product market fit.
February 7, 2026
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Mumbai mayoral election: BJP nominates Ritu Tawde; ally Shiv Sena names deputy with 15-month share.
Ritu Tawde filed nomination as the BJP's mayoral candidate in Mumbai while the Mahayuti alliance named a Shiv Sena corporator as deputy mayor with a 15-month term; nominations were submitted amid party leaders' presence ahead of the election, and the alliance controls 118 of 227 BMC seats, positioning it above the majority threshold.
February 7, 2026
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SBI Q3 net profit rises 13% to Rs 21,317 crore; capital adequacy and asset quality improved.
State Bank of India reported consolidated net profit of Rs 21,317 crore for Q3 FY26 (up 13.06% yoy) and standalone net profit of Rs 21,028 crore (up 24.48% yoy); standalone total income rose to Rs 1,40,915 crore and expenses to Rs 1,08,052 crore. Gross NPA ratio improved to 1.57% from 1.73% sequentially, provisions increased to Rs 4,507 crore year-on-year, and overall capital adequacy stood at 14.04% with a core buffer of 10.99% as of December 31, 2025.
February 7, 2026
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Divine Drop Festival blends traditional devotional rites with contemporary performances to broaden audience appeal.
The Divine Drop Festival integrated traditional devotional rites-Ganesh Vandana, Hanuman Chalisa, Shiv Tandav and Ganga Aarti-with contemporary performance elements (dance, live band, poetry) to shift devotional gatherings from bhajan-only formats to hybrid spiritual-cultural experiences designed to engage multiple generations.
February 7, 2026
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Maiden Rajya Sabha speech by C Sadanandan Master praised for moral strength, patriotic tone, and focus on Kerala development.
Prime Minister Narendra Modi commended BJP-nominated Rajya Sabha MP C Sadanandan Master for his maiden Upper House speech, praising its moral strength, conviction and calm presentation; noted Sadanandan's display of his artificial limbs and the allegation of a decades-old politically motivated attack; observed the MP's patriotism and focus on Kerala's development and the anticipated benefits to the state from recently presented Budget measures.
February 7, 2026
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India US interim trade framework will reduce compliance burdens and streamline exports for Indian businesses, boosting competitiveness.
The India US interim trade framework is described as a regulatory arrangement to reduce compliance burdens and streamline export procedures by eliminating repetitive testing and aligning standards, thereby lowering transaction costs and facilitating deeper integration of Indian digital products and technology components into global value chains.
February 7, 2026
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India US interim trade pact requires India to stop Russian oil imports and reduce duties on US goods, risking trade shifts.
The interim India US framework commits India to cease direct or indirect imports of Russian oil under penalty of a reinstated 25% tariff if non compliance is found, and provides for reciprocal tariff reductions: India will eliminate or reduce duties on a broad set of US industrial and agricultural goods while US duties on certain Indian goods will fall to 18%, with prompt implementation intended and further negotiation toward a Bilateral Trade Agreement.
February 7, 2026
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US India interim trade framework establishes reciprocal tariff adjustments, rules of origin, and commitments to reduce non tariff barriers.
An interim trade framework establishes reciprocal tariff and market access commitments: India will reduce or eliminate tariffs on U.S. industrial and specified agricultural goods while the United States will apply an 18 percent reciprocal tariff on designated Indian-origin goods and, subject to the Interim Agreement, remove that reciprocal tariff for a range of goods. The parties will adopt rules of origin ensuring benefits accrue predominantly to them, address long-standing non-tariff barriers including medical devices and ICT licensing, discuss standards and conformity assessment procedures, and pursue broader BTA negotiations to expand market access, digital trade rules, and economic security alignment.
February 7, 2026
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Credit derivatives: draft enables derivatives on credit indices and total return swaps; public feedback invited by Feb 27.
The Reserve Bank has published a draft revised Master Direction consolidating provisions for credit derivatives, including credit default swaps, and proposing enabling provisions for derivatives on credit indices and total return swaps on corporate bonds; public comments are invited by February 27, 2026 by email or postal submission to the Chief General Manager, Financial Markets Regulation Department.
February 7, 2026
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RBI invites comments on draft amendment removing prior approval for NBFC branch openings in India.
The Reserve Bank published Amendment Directions, 2026, removing the requirement of prior approval or intimation for NBFCs (including Housing Finance Companies) to open branches in India and inviting comments on the draft until February 27, 2026 via the 'Connect 2 Regulate' portal or by submission to the Registration and Authorisation Group; relevant provisions of the Directions on Acceptance of Public Deposits and Housing Finance Companies will be amended consequentially.
February 7, 2026
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Karnataka Deputy Chief Minister D K Shivakumar says elevation timing uncertain and all must abide by party high command.
Deputy Chief Minister D K Shivakumar stated that the timing of any elevation to chief ministership depends on the Congress high command, that everyone must abide by the party's decision, and he would not predict a post budget change.
February 7, 2026
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Assembly proposal condemns MLA remarks on madrasa funding; remarks expunged and opposition staged brief walkout.
Speaker allowed a government member to move a resolution condemning an opposition MLA's remarks alleging madrasa funding supports "anti-social elements" in a minority community; the Speaker said such communal comments would not be permitted, the matter is under consideration, and the contested portions of the MLA's speech were expunged from House records, prompting a brief opposition walkout and competing claims about the propriety and motive for the action.
February 7, 2026
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Vinay Kumar Dubey honoured for legal excellence, NPA resolution work and extensive social-service initiatives supporting vulnerable communities.
Vinay Kumar Dubey, Chairman of VKDL NPA Advisory Council and member of the Hindi Advisory Committee, was honoured for professional contributions, expertise in NPA resolution balancing bank, industry and public interests, and longstanding legal assistance to economically weaker sections.
February 7, 2026
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International oil smuggling disrupted by mid sea transfers; vessels seized and to be handed to customs for investigation.
An international oil smuggling syndicate using coordinated mid sea transfers to evade duties was intercepted when three vessels were boarded about 100 nautical miles west of Mumbai. Digital surveillance and vessel movement pattern analysis within the Exclusive Economic Zone identified suspects; onboard electronic data, document checks, and crew interrogation corroborated the scheme. The vessels, suspected of frequent identity changes and foreign ownership, will be escorted to Mumbai and handed to Customs and law enforcement for further investigation and action.
February 7, 2026
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Satish Gupta's Gujarat debut exhibition spotlights Ahmedabad's emergence within India's growing contemporary art market.
Satish Gupta's Gujarat debut solo exhibition 'Haiku of a Still Mind' at Bespoke Art Gallery in Ahmedabad is presented as the state's first museum-quality solo show of his spiritually rooted work, curated by Devin Gawarwala, featuring paintings and metal sculptures priced between Rs. 5 lakh and Rs. 5 crore and positioned as a milestone within a national market projected to reach Rs. 5,000 crore by 2030 amid rising domestic collectors, HNW participation, and institutional buying.

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J&K must harness full hydropower potential: Home Minister Amit Shah

February 7, 2026

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Jammu, Feb 7 (PTI) Union Home Minister Amit Shah reviewed the progress of development projects in Jammu and Kashmir on Saturday, highlighting the need to utilise the full potential of hydropower projects in the Union Territory.

Chairing a high-level review meeting at the Lok Bhawan here, Shah said under Prime Minister Narendra Modi's leadership, the Centre is firmly committed to the vision of building a developed and prosperous Jammu and Kashmir.

The meeting continued for nearly two hours and was attended by Jammu and Kashmir Lieutenant Governor Manoj Sinha, Chief Minister Omar Abdullah, Union Home Secretary Govind Mohan, Chief Secretary of the Union Territory Atal Dulloo and Director General of Police (DGP) Nalin Prabhat, among others, officials said.

"Due to the continuous and dedicated efforts of the Modi government to accelerate development, the development projects in Jammu and Kashmir have made unprecedented progress. Jammu and Kashmir needs to develop the full potential of its hydropower projects," the home minister said.

Shah arrived here late on Thursday evening and kicked off his two-day visit to the region by touring the forward outposts of the Border Security Force (BSF) at Gurnam and Bobiyian along the International Border in Kathua district on Friday.

On his return from Kathua, he chaired a security review meeting, which, among others, was attended by Army chief General Upendra Dwivedi, with a focus on freeing Jammu and Kashmir from terrorism.

During the meeting on projects, Shah undertook a comprehensive review of key sectors, such as road infrastructure, power, industry, tourism, 4G and optical-fibre connectivity.

He said a special focus should be laid on achieving 100 per cent saturation of the government's welfare schemes and ensuring that the benefits of all development projects reach the intended beneficiaries.

The home minister stressed the importance of developing sports infrastructure and setting up sports academies to connect youngsters with development.

"In this regard, efforts will be made to secure an investment of about Rs 200 crore by engaging with various sports bodies," he said.

Shah also said efforts should be made to promote the dairy sector in Jammu and Kashmir through the National Dairy Development Board (NDDB).

Marking a significant step, Jammu and Kashmir has been brought under the ambit of the Special Assistance to States for Capital Investment (SASCI) scheme for the first time in Financial Year 2025-26, enabling access to 50-year interest-free loans for capital projects.

Shah underlined that strong fiscal discipline would assist in stabilising the Union Territory's fiscal deficit over time.

"India is steadily progressing towards the goal of Viksit Bharat by 2047, marking 100 years of Independence, and the government will continue to extend wholehearted support to Jammu and Kashmir in the pursuit of this goal," he said.

Shah's visit highlights the Bharatiya Janata Party-led Centre's firm resolve to make Jammu and Kashmir's development, peace and security a foremost national priority, an official spokesperson said.

During his two-day tour, the home minister met the families of several police personnel who were killed fighting terrorism and handed over job letters to them.

A BJP delegation also called on the home minister on Friday.

"I held meetings in Jammu with the state office-bearers and MLAs and MPs of Jammu and Kashmir BJP. The BJP will continue working to ensure the ground-level reach of Modiji's development initiatives, while expanding the organisation to realise the vision of a developed Jammu and Kashmir, a secure Jammu and Kashmir," Shah said in a post in Hindi on X. PTI TAS RC

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