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    Rupee gains 9 paise to settle at 95.38 against US dollar
    As Monsoon Session ends, Oppn slams Maharashtra govt over GDP spending, 'missing link' bridge issues
    India's forex kitty jumps USD 7.26 bn to USD 674.19 bn
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July 10, 2026
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Rupee gains on weaker dollar, softer crude and strong equity sentiment amid expectations of RBI support.
The rupee appreciated against the US dollar in interbank trade, supported by a weaker dollar index, easing crude oil prices, improved risk appetite in global markets and positive domestic equity sentiment. Market participants also noted that continued foreign portfolio inflows and buying by oil companies and importers influenced intraday movement, while traders expected the currency to trade within a defined near-term range.
July 10, 2026
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Poor fiscal management and legislative neglect draw opposition criticism over Maharashtra's budget, infrastructure, education, and power-sector concerns.
Opposition parties criticised the Maharashtra government for poor fiscal management, limited legislative discussion, and reliance on supplementary demands that they said exposed flaws in the original budget. They also alleged governance failures in infrastructure, education, temple administration, examinations, and the power sector, including issues linked to the Mumbai-Pune Expressway's Missing Link project, unpaid contractor dues, and schools lacking basic facilities.
July 10, 2026
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Foreign exchange reserves rise as higher currency assets, gold holdings and IMF-related balances lift India's reserve position.
India's foreign exchange reserves increased during the week ended 3 July 2026, according to the Reserve Bank of India, with higher foreign currency assets and gains in gold reserves contributing to the rise. Special drawing rights and the reserve position with the IMF also increased. The report notes that foreign currency assets are affected by valuation changes in non-US currencies, and refers to earlier reserve volatility linked to pressure on the rupee and RBI intervention through dollar sales.
July 10, 2026
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FCV tobacco marketing support reviewed with focus on procurement, exports, digital reforms and grower welfare.
Measures for the Andhra Pradesh Flue Cured Virginia (FCV) tobacco marketing season 2025-26 were reviewed in consultation with growers, manufacturers, exporters, dealers, trade associations and the Tobacco Board. The discussions focused on accelerating procurement, facilitating exports and strengthening the marketing ecosystem for FCV tobacco, while protecting growers' interests. The review also covered restructuring of the Tobacco Board, enhancement of the Growers' Welfare Fund, simplification of registration procedures, digital initiatives, AI-based grading, export market expansion and crop diversification.
July 10, 2026
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Equity market rally gains strength as IT earnings, easing crude prices and banking stocks lift sentiment across sectors.
Indian equity markets extended gains for a second straight session, closing higher on broad-based buying led by information technology, banking and realty stocks. Sentiment improved on easing crude oil prices, positive global cues, stability in the rupee and better-than-expected quarterly results from TCS, which lifted confidence in the IT sector and improved demand outlook. All sectoral indices ended in positive territory, while market breadth remained positive despite continued foreign institutional investor selling.
July 10, 2026
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Caller identification rules for 140 and 1600 series calls limit app-based blocking, while DND registry controls promotional call preferences.
Calls originating from the 1600 series are reserved for service and transaction communications by regulated entities and government entities, and tagging, blocking or filtering of such calls by apps is not permitted under the Telecom Commercial Communications Customer Preference Regulation. Calls beginning with the 140 series are meant for registered telemarketers, and customers may allow or block such promotional calls through the Do Not Disturb registry, including by using the TRAI DND App. App-based tagging or filtering of 140 series calls is not allowed.
July 10, 2026
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Software reliability as AI infrastructure drives regulated deployment, compliance readiness, and scalable autonomous testing across high-stakes sectors.
Software reliability is presented as foundational infrastructure for India's AI economy, especially in regulated sectors such as healthcare and financial services. The text says unreliable software creates compliance, safety, and operational risks, while MedTech software is expected to align with IEC 62304 and ISO 14971 and financial services software with RBI-guided validation expectations. It also describes AI-augmented autonomous testing as a way to generate test cases from natural language, self-heal broken references, and improve coverage, cost efficiency, and deployment reliability.
July 10, 2026
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Personal loan interest rates and repayment tenure are shaped by credit profile, income, eligibility and repayment capacity.
Collateral-free personal loans are offered with interest rates determined by the applicant's credit profile, income, repayment capacity, employment stability, existing obligations, loan amount, tenure and overall eligibility assessment. The loan product provides borrowing amounts from Rs. 40,000 to Rs. 55 lakh, repayment tenure from 12 months up to 108 months, and disbursal within 24 hours after approval and verification, subject to terms and conditions.
July 10, 2026
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Rupee strength against the US dollar reflects weaker greenback, softer oil prices and bank-led support amid market volatility.
The rupee opened stronger against the US dollar in early interbank trade, supported by a weaker greenback, easing crude prices and a firm domestic equity market. Traders said dollar selling by state-run banks, widely viewed as intervention on behalf of the Reserve Bank of India, helped the currency move above the 95.50 level, while foreign institutional outflows and West Asia tensions continued to weigh on sentiment.
July 10, 2026
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Footwear quality control amendments extend stock clearance and permit limited R&D sample imports for manufacturers.
Amendments to the footwear Quality Control Orders extend the legacy stock clearance timeline from 31 July 2026 to 31 July 2027 and create an exemption for import of footwear samples for research and development and other non-commercial purposes. Manufacturers may import up to 4,500 pairs annually, subject to prominent marking and embossing with "NOT FOR SALE", prohibition on commercial sale, disposal as scrap after use, and maintenance of year-wise records for production to the Government when required.
July 9, 2026
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Cancellation of registered sale deed follows admission of unpaid consideration and no possession in disputed land transaction.
Cancellation of registered sale deed was ordered in a disputed land transaction, with the court declaring the conveyance void ab initio, inoperative from the beginning and of no legal effect. The court directed correction of registration records and held that the purchaser would have no right, title or interest in the property after cancellation. It recorded that execution was admitted, but consideration had not been paid and possession had never been delivered, while leaving open the possibility of refund of stamp duty if permissible under law.
July 9, 2026
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Artificial intelligence and forensic analytics are accelerating fraud restitution and complex money laundering investigations through better verification and tracing.
Artificial intelligence-assisted tools are being deployed to identify rightful claimants in large-scale fraud cases, automate claims and disbursement, and improve verification, speed, and accuracy in asset restitution. Modern forensic technology and data analytics are also being used in complex money laundering and cross-border financial crime investigations involving shell companies, nominee directors, benami property chains, cryptocurrency wallets, mule accounts, offshore entities, and interlinked trusts.
July 9, 2026
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Rupee volatility and Reserve Bank of India intervention shape currency trading amid stronger dollar and crude oil pressures.
The rupee appreciated marginally against the US dollar, supported by recovery in domestic equity markets and dollar selling by state-run banks, which market participants believed reflected Reserve Bank of India intervention. The currency remained pressured by firmer crude oil prices, a stronger greenback in overseas markets, and renewed geopolitical tensions in West Asia, with traders expecting elevated volatility to persist.
July 9, 2026
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AI-driven demand and backlog recovery shape TCS quarterly growth outlook amid margin pressure and strong deal wins.
TCS reported a rise in June-quarter net profit and revenue, while saying demand was sluggish because of geopolitical disruption and some client deferrals. Management expects demand to resume in the ongoing quarter as customers work through a technology backlog. The company also cited AI-related investments, strong deal conversion, wage-driven margin pressure, continued hiring and attrition trends, and growth in India revenues alongside weaker performance in some geographies and business segments.
July 9, 2026
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Act East policy positions Tripura as a gateway to Southeast Asia, boosting trade, investment and regional connectivity.
Tripura is described as emerging as a strategic gateway to Southeast Asia under the Act East policy, with the Northeast positioned as a growing engine of trade, investment and regional connectivity. The commentary highlights Tripura's location at the crossroads of connectivity and commerce, its access to the ASEAN market, and its readiness to attract long-term investment through expanding infrastructure and institutional support. The note also identifies sectoral opportunities arising from Tripura's strengths in bamboo and natural rubber, with potential for manufacturing, food processing, value addition, logistics, exports and technology-driven industries. Major connectivity and trade-enabling projects are presented as key initiatives supporting export access to Southeast Asia and the Bay of Bengal.
July 9, 2026
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Economic engagement and investment facilitation shape outreach to Chinese businesses as trade ties and pharmaceutical access are discussed.
Indian diplomatic outreach to Chinese businesses has focused on facilitating deeper economic and commercial engagement with India, including support for Chinese investment opportunities as bilateral relations move toward normalisation. The embassy has indicated willingness to help investors navigate entry into the Indian market, address concerns, and provide greater assistance for investment facilitation, alongside recent easing of restrictions on Chinese investments. Trade discussions have also emphasized expanding Indian pharmaceutical exports to China and improving market access for Indian manufacturers of generic medicines.
July 9, 2026
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Government spending restraint curbs public expenditure and travel as inflation and growth pressures test macroeconomic stability.
Bangladesh has introduced austerity measures to restrain government expenditure amid persistent inflation, slower growth and pressure on the banking system. The restrictions cover cuts in public spending, procurement of motor vehicles, air and water craft, and foreign travel by officials. The directive applies across ministries, agencies, autonomous bodies, state-owned enterprises, statutory organisations, public sector corporations, state-owned companies and financial institutions to ensure prudent use of limited public resources and support macroeconomic stability.
July 9, 2026
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AI-led transformation and strong deal wins drive TCS quarterly growth despite margin pressure and mixed geographic performance.
TCS reported higher quarterly net profit, revenue and net income for the June 2026 quarter, while operating margin declined due to wage hikes and fresh investments. The company said growth was supported by demand for AI-led transformation, modernisation, cybersecurity, sovereign cloud and platform simplification, and disclosed new deals with a total contract value of USD 9.5 billion, including a major AI-led transformation engagement.
July 9, 2026
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MSME quality and market access get a boost through a joint certification, accreditation and digital commerce framework.
Quality Council of India and National Small Industries Corporation Limited entered into a Memorandum of Understanding to strengthen quality, competitiveness and market access for Micro, Small and Medium Enterprises through a unified support framework. The collaboration integrates ZED Certification, MSME Global Mart, the TEAM Initiative and the Single Point Registration Scheme to expand digital commerce access, export promotion, testing and accreditation support, and capacity-building for MSMEs and training institutions. A Joint Coordination Committee will oversee implementation during the five-year tenure of the MoU.
July 9, 2026
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Grievance redressal performance improves as financial services divisions rank high and expand complaint review and transparency measures.
The Department of Financial Services has remained among the top 10 ministries and departments in grievance redressal rankings, with the Insurance Division securing 2nd rank in Group A for May 2026 and the Banking Division ranking 6th. The Department is also conducting direct review of selected grievances and workshops on an effective grievance redressal framework to improve complaint resolution, transparency, and customer trust.

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Corp. Laws / SEBI / IBC

Over 36,000 firms shut operations in Maharashtra in 5 yrs; Oppn claims graft, govt interference

August 12, 2026

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Mumbai, Aug 12 (PTI) Opposition leaders have sharply criticised the Maharashtra government after data disclosed in the Lok Sabha showed that over 36,000 private companies were liquidated, dissolved, or struck off in the state over the last five financial years.

They claimed excessive government interference, widespread corruption, and an increasingly unfavourable business environment as key drivers pushing commercial and industrial activity away from Maharashtra.

The information was shared in the Lok Sabha by the Ministry of Corporate Affairs on August 10, in response to a question asked by Shiv Sena (UBT) Lok Sabha member Rajabhau Waje.

Waje on Wednesday said that the closure of more than 14,000 companies in business services and nearly 6,500 in manufacturing was particularly alarming, as these sectors generate substantial employment.

“Some 14,000 companies in business services and some 6,500 companies from manufacturing sectors have closed down in the last five fiscal years. These sectors generate significantly higher employment, and such higher numbers of closures are shocking,” he told reporters.

Maharashtra Congress spokesperson Sachin Sawant told PTI that political interference and corruption under the current regime are severely harming the state’s economic trajectory. He also raised concerns over the government’s alleged failure to create a conducive climate for enterprise, stressing that the closure trends directly contradict the rhetoric around utilising India’s demographic dividend.

“The current regime in Maharashtra has lust for power and nothing else. Its increased interference in where the new businesses or industrial units would come is adversely affecting the state's growth in this sector. The widespread corruption and unfavourable environment for the business sector are now reflected in this Lok Sabha answer,” he said.

As per the data, 36,211 private companies underwent liquidation, dissolution or were struck off in Maharashtra over the past five financial years. Business services accounted for the largest share at 14,613, or about 40 per cent of the total, followed by manufacturing, mining, quarrying and others at 6,582; trading at 4,196; community, and personal and social services at 3,361.

A total of 2,356 companies from the construction sector faced the same fate, followed by storage and communications at 1,336; agriculture and allied activities at 1,178; real estate and renting at 1,149; finance at 1,012; electricity, gas and water companies at 387; and insurance at 41, the data showed.

Among the districts, Mumbai City recorded the highest number at 12,009, followed by Pune at 6,433 and Thane at 4,704. Nagpur accounted for 1,478 companies that went out of business, Nashik 840, Raigarh 822 and Aurangabad 654. Kolhapur recorded 429, Ahmednagar 308, Solapur 262, Sangli 247, Jalgaon 215, Satara 196, Bandra Suburban 172, Nanded 169, Latur 163 and Amravati 151. The ‘Others’ category accounted for 5,636 companies, it said.

Mumbai City, Pune and Thane together accounted for 23,146 companies, or nearly 64 per cent of the Maharashtra total.

Referring to Rashtriya Swayamsevak Sangh’s (RSS) chief Mohan Bhagwat’s recent remarks that young people could not all seek jobs and some would have to start businesses, Sawant said data shared by the Corporate Affairs Ministry were at odds with that message.

“Now, the Union government’s own admission shows that what Bhagwat is preaching is not being implemented by BJP leaders at all,” Sawant said. He also claimed that Maharashtra was lagging behind Karnataka in attracting foreign direct investment.

Waje also pointed to the absence of data on workers affected by the closures.

“The Union government does have figures of the number of companies that have closed down, but unfortunately, it does not have how many workers were affected due to such closures,” he said, claiming that a labourer in Nashik district died by suicide last month after being sacked from a local company.

In its written response, the Centre stated that it does not maintain information on workers affected by the closure of private company operations. Where a company enters the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, claims of employees and workers are adjudicated according to orders of the adjudicating authority, it said.

In winding-up or liquidation cases, claims of workmen and employees, including pending wages and other admissible statutory dues, are handled by the liquidator in accordance with applicable provisions, subject to availability of funds and the statutory order of priority, it said.

The government also said no central information was maintained on any special rehabilitation package for workers affected by company closures or on proposed tax incentives and location-based benefits to attract genuine industries to rural and backward districts of Maharashtra.

Responding to a question by BJP MLA Sudhir Mungantiwar in the Maharashtra assembly on whether over 12,000 small industrial units had closed in four years because of a slowdown and various other reasons, Industry Minister Uday Samant had said the claim was “partially true”. PTI ND SKL NR

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