Asianet Newsable

Telangana's defence MSMEs soar from 400 to 2,000 in a decade

Asianet News Central — Sat, 01 Aug 2026 21:31:06 +0530

Significant Growth in MSME Sector

The number of micro, small and medium enterprises supplying to Telangana's aerospace and defence sector has increased from a little over 400 to around 1,500-2,000 over the past decade, a senior state government official said on Saturday, adding that the ecosystem is well placed to tap domestic and export opportunities. Speaking to ANI on the sidelines of the second edition of the Defence MSME Manufacturers Forum organised by the Indian Chamber of Commerce in Hyderabad, Telangana Director for Aerospace and Defence Praveen PA said the state had built a strong defence manufacturing network. "Over the last ten years, the MSMEs supplying to aerospace and defence have grown from 400-plus to around 1,500-2,000. It is a significant jump," Praveen said.

He said Telangana had been a major centre for the country's missile, aerospace and defence industries for several decades. "This ecosystem is well poised to take all opportunities coming up, both in terms of exports as well as domestic procurement," he added.

Government Initiatives to Bolster Sector

The Telangana government is also looking to strengthen the sector by identifying dedicated land parcels and supporting smaller companies seeking to enter global supply chains. Krishna Aditya S, Special Secretary in Telangana's Department of Industries and Commerce, said the state already had a vibrant ecosystem supported by the presence of defence public sector undertakings and their ancillary units.

"Telangana already carries a vibrant ecosystem in which multiple defence PSUs have strengthened the presence of ancillary units and MSME segments," he told ANI. "The intent is to focus on more export orientation by providing all possible support to the MSME units," he added.

Strengthening Domestic Manufacturing

Indian Chamber of Commerce Director General Rajeev Singh said Hyderabad was one of India's largest defence and aerospace hubs and that greater MSME participation could strengthen domestic manufacturing. "We are going to speak about how to develop the MSME base which can integrate into the larger picture of manufacturing and developing components," Singh said.

He added that bringing large companies and smaller manufacturers together could help India reduce its dependence on defence imports and increase exports.

The forum was organised under the theme, "Make in India for the World: Empowering MSMEs for India's Defence and Aerospace Future."

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Samudra Manthan to save India Rs 1 lakh crore on oil imports: Puri

Asianet News Central — Sat, 01 Aug 2026 21:00:25 +0530

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said the recently approved Samudra Manthan scheme could help India save around Rs 1 lakh crore annually by reducing dependence on imported crude oil and natural gas, describing the Cabinet decision as a "revolutionary" step towards India's energy self-reliance.

'Revolutionary decision' towards self-reliance

Speaking to reporters in Siddharthnagar, Uttar Pradesh, Puri said India currently spends about USD 150 billion every year on crude oil and natural gas imports, underscoring the need to boost domestic exploration and production. "Our economy is moving rapidly. Our energy consumption is three times more than the global average. Still, we are importing crude oil and natural gas... So, our import bill right now is about USD 150 billion... Now, with this project, in the time to come, we will be able to save Rs 1 lakh crore per year," the minister said.

Calling the initiative a "revolutionary decision", Puri expressed confidence that the scheme would strengthen India's energy security and help the country move towards self-reliance in the sector. "I am absolutely confident that in the time to come, we will be 'aatmanirbhar' even in energy and Indians will benefit," he said.

About Samudra Manthan Scheme

The minister's remarks come a day after the Union Cabinet approved the Rs 84,084 crore Samudra Manthan - National Offshore Exploration Scheme to accelerate exploration and production of oil and natural gas in India's offshore areas.

According to the Petroleum Ministry, the scheme aims to significantly expand exploration in offshore sedimentary basins through large-scale seismic surveys, deepwater and ultra-deepwater drilling, and supporting infrastructure. The government expects the initiative to strengthen India's long-term energy security by increasing domestic production and reducing reliance on imported hydrocarbons.

Puri also said the scheme would be implemented over the next four years, during which data acquisition, deepwater drilling and infrastructure creation would be undertaken to unlock India's offshore hydrocarbon potential. (ANI)

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India's interest rates unlikely to see sharp drop: Motilal Oswal CEO

Asianet News Central — Sat, 01 Aug 2026 20:00:57 +0530

India's interest rates are unlikely to experience a sharp decline in the near term despite surging foreign inflows into government bonds following the nation's inclusion in global bond indices, according to Ashish Shanker, Managing Director and CEO of Motilal Oswal Private Wealth.

Speaking exclusively to ANI on the sidelines of the ninth edition of the Motilal Oswal Business Impact Conference (MOBIC) 2026 in Mumbai, Ashish Shanker stated, "In India, over time rates should definitely go down as we become bigger and bigger in terms of size and scale. However, I don't see it happening in the near term because there are inflationary pressures globally and domestically."

Persistent global and domestic inflationary pressures--largely driven by imported price factors- will keep interest rates range-bound in the near term rather than triggering a sudden drop. While inclusion in international bond indices continues to attract stable foreign inflows into Indian government securities, it will not single-handedly cause an immediate, sharp fall in yields.

Retail Debt Strategies and Outlook

Shanker advised retail investors to target medium-term (3 to 5 years) yield-to-maturity products, high-grade corporate bonds, and G-Secs, while emphasising dynamic asset allocation funds to navigate rapidly shifting market environments.

Elaborating on the outlook for government securities and retail debt strategies, Shanker added, "As India gets included in the global index, you will see more flows coming into Indian government bonds and you will see that the Indian government bonds remain range-bound but with a downward bias. But I don't see rates going down in a hurry. For retail investors, you should buy yield-to-maturity funds, yield-to-maturity products. I think three to five years is the sweet spot. You can add corporate bonds, you can add G-Secs and just stay at the better end of the curve in terms of rating." (ANI)

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Foreign investors view 'oversold' Indian equities favourably: Agrawal

Asianet News Central — Sat, 01 Aug 2026 20:00:25 +0530

Foreign investors are beginning to look at India more favourably after months of heavy selling, with Indian equities "probably oversold", Motilal Oswal's Chairman Raamdeo Agrawal said on Saturday, while cautioning that geopolitical developments and oil prices remain key risks. Speaking exclusively to ANI on the sidelines of the ninth edition of the Motilal Oswal Business Impact Conference (MOBIC) 2026 in Mumbai, Agrawal said a significant amount of foreign portfolio capital had already exited the country over the past two years.

"In the last two years already we have lost a lot of FPI capital. They've been completely on the outflow, particularly this year... Clearly, a lot of capital has left the country," he said.

FPIs Reversing Trend

Agrawal attributed the outflows to a combination of factors, including domestic valuations, stronger performance in other global markets and the absence of a strong artificial intelligence investment theme in India. He added that geopolitical tensions had also weighed on India's external position by keeping oil prices elevated.

"We are seeing for the last one week... a reversal of trend where FIIs are actually looking at India more favourably. Probably they are oversold. That's the situation right now," he said.

However, he cautioned that the outlook would continue to depend on global developments. "How geopolitics will shape up, only time will tell. Who knows what's going to happen in Iran? What's going to happen to oil prices?" he said.

Resilient Domestic Economy

Despite the uncertain global environment, Agrawal said India's domestic economy continued to remain resilient, citing strong automobile sales, healthy GST collections and robust credit growth. "I think the domestic economy is booming. I would say there is a good pickup in the economy... The credit flow is about 18 per cent or so. On the back of that, we are doing very well, except that the forex situation is a little dicey because of oil prices and whatever is happening geopolitically," he said.

Monetary Policy Outlook

On monetary policy, Agrawal said he expects the Reserve Bank of India to broadly follow the US Federal Reserve's approach. "Since the US has kept the rate on pause, I would think that we also follow the same trajectory," he said, while adding that he was "not a student of monetary economics."

He also said faster credit growth could put short-term pressure on inflation. "Last year it was more like 9-10 per cent kind of credit growth. Now we are running at 17-18 per cent kind of credit growth... They may have to moderate the credit growth to control inflation in the short term," he said. (ANI)

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Nexacosmic Introduces NXC Token to Drive Blockchain Payment Ecosystem Development

Indrakshi Samanta — Sat, 01 Aug 2026 18:47:54 +0530

The growing adoption of blockchain technology in financial services has created new opportunities for projects focused on payment utility and decentralized infrastructure. Nexacosmic has introduced NXC, a BEP-20 utility token built on the BNB Chain, with plans to develop a broader ecosystem centered around blockchain-powered payments.

The project states that NXC has been designed as a utility-focused digital asset supported by a fixed supply model, transparent token distribution, and a long-term development roadmap covering payment solutions, decentralized applications, and future blockchain infrastructure.

Token Design Prioritizes Supply Transparency

Nexacosmic has established a maximum supply of 20,000,000 NXC tokens, with the project stating that the supply is permanently fixed and cannot be increased through additional minting.

The fixed-supply structure is intended to provide clarity around token availability while supporting long-term ecosystem planning.

The project also reports that liquidity protection measures have been implemented through the permanent burning of all Liquidity Provider (LP) tokens connected to the initial PancakeSwap liquidity pool.

For allocated tokens that are not immediately circulating, Nexacosmic states that vesting schedules are managed through PinkSale contracts, allowing release timelines to remain publicly accessible.

NXC Contract Information

Nexacosmic has released the official technical details of the token to support independent verification by blockchain users.

Official NXC Information

Token Name: Nexacosmic
Ticker: NXC
Blockchain: BNB Chain
Token Standard: BEP-20
Maximum Supply: 20,000,000 NXC
Verified Token Contract: 0xca7af1032fcf6f7ea3bdc325057a7c4d5e7f58b1
Official Website: nexacosmic.io

The publicly available contract information enables users to verify the token deployment and review blockchain activity directly.

Structured Distribution Supports Ecosystem Expansion

Nexacosmic has designed its token allocation around multiple development priorities, including liquidity, community participation, ecosystem growth, and operations.

The initial liquidity allocation consists of 100,000 NXC (0.5%), dedicated to PancakeSwap deployment, with the project stating that all LP tokens have been permanently burned.

The largest allocation, 6.9 million NXC (34.5%), is reserved for future liquidity requirements and exchange expansion. These tokens are locked for 60 months before scheduled monthly releases.

Community initiatives and referral programs receive 5 million NXC (25%), supporting user engagement and ecosystem participation through planned distribution.

The project has allocated 4 million NXC (20%) for ecosystem development, including payment-related applications and merchant adoption.

A further 2.4 million NXC (12%) is designated for development, marketing, and operational activities under a linear release structure.

The founding team allocation represents 1.6 million NXC (8%), with tokens subject to a 24-month lock period followed by gradual monthly unlocking.

Roadmap Targets Broader Web3 Payment Adoption

Nexacosmic's roadmap focuses on developing practical applications designed to increase the usability of blockchain-based payments.

A planned merchant payment platform is intended to allow businesses to accept NXC transactions as part of future payment integrations.

The project also outlines development of a decentralized non-custodial wallet, enabling users to manage their digital assets while maintaining control over their holdings.

Additional planned products include NexaSwap, a decentralized exchange interface for trading and liquidity activities, and NexaChain, a proposed blockchain network designed to support scalable payment applications.

The roadmap further includes NexaAI, an artificial intelligence initiative aimed at improving ecosystem governance and operational processes, along with physical and virtual crypto payment cards planned for future integration with established payment networks.

Transparency Through Public Blockchain Records

Nexacosmic highlights on-chain verification as a key element of its ecosystem approach.

Smart contract information, liquidity details, allocation structures, and vesting schedules are publicly available, enabling users to independently review important token data.

Developing the Next Phase of Digital Payments

As blockchain technology continues moving toward practical financial applications, projects focused on payment utility are exploring new ways to connect decentralized systems with everyday transactions.

With a fixed supply of 20 million NXC, transparent token distribution, permanent liquidity protection, and a roadmap centered on payment infrastructure, Nexacosmic aims to build a foundation for decentralized financial applications on the BNB Chain.

For more information, visit the official hub at nexacosmic.io and track the verified NXC token contract on BNB Chain: 0xca7af1032fcf6f7ea3bdc325057a7c4d5e7f58b1

Ethanol blending saved Delhiites from ₹125/litre petrol: Ministry

Asianet News Central — Sat, 01 Aug 2026 18:00:23 +0530

Ethanol Blending Averted ₹125/Litre Petrol Price, Saved Consumers ₹30/Litre: Ministry

Defending the Ethanol Blended Petrol (EBP) Programme against criticism over costs and food security, the Ministry of Petroleum and Natural Gas stated on Friday that retail petrol prices in Delhi could have surged to around ₹125 per litre during peak global crude oil spikes if India had not implemented ethanol blending.

Highlighting the substantial financial relief provided to citizens amidst international market volatility, the Ministry of Petroleum and Natural Gas stated, "The result? Nearly ₹30 per litre in savings at the pump during the peak of the crisis. The value of ethanol blending is not about being the cheapest fuel every day. It is about protecting Indian consumers from extreme volatility in global oil markets, strengthening India's energy security, and keeping more of the country's fuel bill within the Indian economy rather than sending it overseas."

Insulated from Global Shocks

While the Indian crude basket surged to around USD 135 per barrel, consumers paid ₹94.77 per litre because 20% of each litre consisted of domestically produced, stably priced ethanol insulated from global shocks. In a press release, the ministry said that when the Indian crude basket rose to around USD 135 per barrel, petrol without ethanol blending was "projected to cost around ₹125 per litre in Delhi." Instead, it said consumers paid Rs 94.77 per litre because "20 per cent of every litre was domestically produced ethanol, procured at stable, pre-agreed prices that were insulated from the global crude price spike."

Economic and Environmental Impact

The EBP Programme has yielded over ₹1.97 lakh crore in foreign exchange savings, substituted more than 316 lakh metric tonnes of crude imports, and reduced CO₂ emissions by over 950 lakh metric tonnes.

'Energy Insurance, Not a Subsidy'

The ministry also rejected the claim that ethanol blending survives on taxpayer subsidies. "Ethanol blending isn't a taxpayer subsidy. It's India's energy insurance and it has already delivered when the crisis hit," it said.

The initiative has driven over ₹1.66 lakh crore in direct payments to farmers and distillers, establishing a reliable domestic marketplace for agricultural produce while cutting down India's 88% import dependency on crude oil.

(ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Coal India's July coal supply hits all-time high of 64.19 MT

Asianet News Central — Sat, 01 Aug 2026 17:00:52 +0530

Coal India Ltd (CIL) recorded its highest-ever coal supply for the month of July, with offtake rising 18.38 per cent year-on-year to 64.19 million tonnes (MT), while coal production increased 8.44 per cent to 50.36 MT, according to the company's press release.

The company said the July supply was the highest ever for the month in any financial year, surpassing the previous record of 60.5 MT achieved in FY25.

"Coal India Limited (CIL) recorded a robust operational performance in July FY26-27, registering an 8.44% growth in coal production to 50.36 million tonnes (MT) and an 18.38% increase in coal supplies to 64.19 MT, over the corresponding period last year," the release said.

Sustained Growth and Cumulative Records

CIL said the strong performance followed another record month in June, when it supplied 65.95 MT of coal, the highest-ever supply for June. As a result, cumulative coal supplies during the April-July period of FY27 rose 6.9 per cent year-on-year to a record 262.04 MT, surpassing the previous high of 259.4 MT recorded during the corresponding period of FY25.

Monsoon Operations and Strategy

Highlighting its operational performance during the monsoon, the company said, "Despite the challenges posed by the rains, the company has recorded healthy growth in coal production." It added that it had "sustained strong momentum in coal supplies through a demand-responsive inventory optimization strategy, enabling it to maintain a comfortable balance between production and supplies."

Sector-wise Supply Performance

Coal supplies to the power sector, the company's largest consumer segment, rose 18 per cent to 49.77 MT in July from 42.35 MT a year earlier. Supplies to the non-regulated sector increased 21 per cent to 14.42 MT from 11.89 MT during the same period.

Overburden Removal Increases

The company also reported a 21.11 per cent increase in overburden removal, a key mining activity, to 120.35 million cubic metres during July. On a cumulative basis, overburden removal during April-July stood at 625.02 million cubic metres, up 2.85 per cent from the corresponding period of the previous fiscal, the release added. (ANI)

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India, Rwanda identify key sectors to boost trade, investment cooperation

Asianet News Central — Sat, 01 Aug 2026 16:30:59 +0530

India and Rwanda have identified critical minerals, pharmaceuticals and healthcare, digital technologies, agriculture and renewable energy as priority sectors for expanding bilateral trade and investment cooperation, following the first session of the India-Rwanda Joint Trade Committee (JTC), according to the Ministry of Commerce and Industry.

Joint Trade Committee Established

Held in New Delhi on July 30 and 31, the inaugural JTC established a permanent and structured mechanism to review bilateral trade, diversify the trade basket, promote two-way investment and address logistical and market access issues. The Agreed Minutes of the meeting were signed on July 31, with both sides agreeing to hold the second session in Rwanda next year on a mutually convenient date through diplomatic channels.

Delivering the inaugural address, Additional Secretary, Department of Commerce, Yashvir Singh said the first JTC session establishes "a permanent, structured and periodic apex mechanism to review bilateral commerce, diversify the trade basket, expand two-way investment and address logistical impediments."

Focus on Trade Diversification

The two sides reviewed existing trade in goods and services and agreed to make concerted efforts to diversify bilateral trade while strengthening business-to-business engagement. India highlighted opportunities to expand exports of heavy engineering goods, pharmaceuticals and medical devices, refined petroleum products, textiles, marine products, plastics, sports goods and toys, gems and jewellery, and scientific instruments.

The ministry noted that India remains Rwanda's largest source of pharmaceutical imports, accounting for about 24.5 per cent of the country's pharmaceutical imports. Rwanda, meanwhile, identified chillies, macadamia, French beans, avocados, essential oils, tea, coffee, horticultural products, minerals and precious stones as priority exports to India.

Investment Opportunities Highlighted

On investment, Rwanda said India was its second-largest foreign investor as of 2025 and highlighted opportunities across mining, agro-processing, affordable housing, information and communication technology, manufacturing, healthcare, tourism and financial services. Both countries also designated Invest India and the Rwanda Development Board as investment focal points under the JTC framework and agreed to exchange calendars of trade fairs, business forums and buyer-seller meets.

Cooperation in Strategic Sectors and Capacity Building

The discussions also covered cooperation in critical minerals, including Rwanda's tin, tungsten and tantalum resources, as well as healthcare, traditional medicine, green mobility, digital public infrastructure, fintech, cybersecurity and renewable energy. India also offered continued capacity-building support through the Indian Technical and Economic Cooperation (ITEC) Programme, the Study in India initiative and the Skill India Mission to further strengthen bilateral cooperation. (ANI)

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Mahindra, Kia India lead July auto sales surge with strong growth

Asianet News Central — Sat, 01 Aug 2026 16:30:53 +0530

Mahindra & Mahindra and Kia India posted some of the strongest sales growth among major passenger vehicle makers in July, while Toyota Kirloskar Motor reported a more modest increase, highlighting uneven growth across the segment even as market leader Maruti Suzuki recorded its highest-ever domestic monthly sales.

Strong Growth for Mahindra and Kia

Mahindra reported a 26 per cent year-on-year increase in overall vehicle sales, including exports, to 1,03,860 units in July. Domestic SUV sales rose 20 per cent to 60,048 units, while domestic commercial vehicle sales increased 23 per cent to 25,204 units, reflecting broad-based demand across its portfolio. "In July we achieved SUV sales of 60048 units delivering growth of 20 per cent. The total vehicle sales stood at 103860, a 26% YoY growth reflecting all-round demand traction across the portfolio," said Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra.

Kia India also reported strong momentum, with wholesale dispatches rising 27.4 per cent year-on-year to 28,200 units, its best-ever July sales since entering the Indian market. The company said sustained demand for the Seltos and Sonet, along with the Carens Clavis and the refreshed Syros, supported the growth. "Our best-ever July wholesale performance reflects the continued trust of our customers and the strong acceptance of Kia's diverse product portfolio," said Atul Sood, Senior Vice President - Sales & Marketing, Kia India.

Market Leader Maruti Hits Record, Toyota Sees Modest Growth

Maruti Suzuki, India's largest carmaker, reported record domestic sales of 200,123 units in July, while total sales, including exports and sales to other OEMs, stood at 241,421 units. Domestic passenger vehicle sales rose to 196,203 units, while utility vehicle sales increased to 78,851 units from 52,773 units a year ago. In contrast, Toyota Kirloskar Motor reported a relatively modest 5 per cent increase in domestic sales to 30,516 units in July. "We registered a steady performance in July, reflecting sustained customer confidence in the Toyota brand," said Sabari Manohar, Executive Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor.

Rural Demand Boosts Tractor Sales

Mahindra's July numbers also pointed to continued strength in the rural economy. Its Farm Equipment Business sold 34,420 tractors, up 20 per cent from a year earlier. The company attributed the growth to improved rainfall, better reservoir levels, faster kharif sowing and healthy farm cash flows. "Significant recovery in rainfall, improved reservoir levels, accelerated kharif sowing aided by Government support and healthy farm cashflows has led to positive rural & farmer sentiment," said Veejay Nakra, President, Farm Equipment Business, Mahindra & Mahindra.

Two-Wheeler Segment Reports Healthy Growth

Separately, the two-wheeler segment also reported healthy July sales, although growth rates varied across manufacturers. Royal Enfield posted a 34 per cent increase in total motorcycle sales to 1,18,232 units, while Honda Motorcycle & Scooter India reported a 5 per cent rise in total sales to 5.42 lakh units, supported by a 35 per cent jump in exports even as domestic sales grew 2 per cent.

Industry Focus on Electric Mobility

The July sales releases also underscored the industry's increasing focus on electric mobility, with companies including Kia and Royal Enfield highlighting strong customer response to newly launched electric models. However, none of the automakers disclosed separate monthly EV sales figures in their July sales updates. (ANI)

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Centre releases Rs 1.09 lakh crore advance tax share to states

Asianet News Central — Sat, 01 Aug 2026 16:30:49 +0530

The Union Government on Saturday released an additional instalment of Rs 1,09,019 crore as tax devolution to state governments, ahead of the regular monthly transfer due on August 10, to help states step up capital spending and development works.

According to a Ministry of Finance release, the amount released on August 1 is "in addition to the normal monthly devolution to be released on 10th August 2026." "This release is in line with the commitment of Government of India to strengthen the finances of States to accelerate their capital and developmental expenditure," the Ministry of Finance said in the release.

State-wise Allocation

As per the ministry's state-wise distribution of net proceeds of Union taxes and duties for August 2026, Uttar Pradesh received the highest allocation at Rs 17,908 crore, followed by West Bengal at Rs 7,986 crore and Maharashtra at Rs 7,022 crore.

Among other major allocations, Rajasthan received Rs 6,800 crore, Bihar Rs 5,893 crore, Tamil Nadu Rs 4,600 crore, Gujarat Rs 4,074 crore, Andhra Pradesh Rs 4,037 crore, and Madhya Pradesh Rs 3,810 crore. Smaller states and Union Territories also received their respective shares, including Goa (Rs 399 crore), Sikkim (Rs 203 crore), Mizoram (Rs 612 crore), Nagaland (Rs 824 crore), and Tripura (Rs 699 crore).

Understanding Tax Devolution

Tax devolution is the constitutionally mandated transfer of a share of the Centre's divisible tax pool to states, based on the recommendations of the Finance Commission. The transfers form a key source of untied revenue for states and support spending on infrastructure, social welfare and other development programmes.

The Finance Ministry said the advance release reflects the Centre's continued effort to ensure that states have adequate financial resources to sustain public investment and developmental activities. (ANI)

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RBI's swap facility mobilises $40.8 bn, nearly doubles in 2 weeks

Asianet News Central — Sat, 01 Aug 2026 15:01:22 +0530

The Reserve Bank of India's (RBI) special swap facility has mobilised USD 40.816 billion in foreign exchange inflows as of July 31, 2026, nearly doubling the USD 20.718 billion recorded as of July 17, indicating continued strong response to the central bank's measures to encourage foreign currency inflows and strengthen the country's balance of payments.

Breakdown of Forex Inflows

According to the latest RBI data, Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits accounted for the bulk of the inflows at USD 36.725 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed USD 2.575 billion. External Commercial Borrowings (ECBs) mobilised a further USD 1.516 billion. Together, the three sources took total forex inflows under the facility to USD 40.816 billion as of July 31.

Inflows Nearly Double in Two Weeks

The latest figure represents an increase of USD 20.098 billion, or around 97%, from the USD 20.718 billion reported by the RBI as of July 17. The earlier figure comprised USD 17.406 billion through FCNR(B) deposits, USD 1.970 billion through OFCBs and USD 1.342 billion through ECBs.

The sharp rise in inflows over the two-week period was largely driven by FCNR(B) deposits. These deposits increased by USD 19.319 billion, from USD 17.406 billion on July 17 to USD 36.725 billion by July 31. OFCB inflows increased by USD 605 million, while ECB inflows rose by USD 174 million over the same period.

About the RBI's Concessional Swap Facility

The RBI had announced the concessional swap facility on June 5, 2026, and operationalised it from June 8 with the objective of strengthening the balance of payments and incentivising capital inflows. The facility is available for fresh FCNR(B) deposits until September 30, 2026, while concessional swaps for OFCBs and ECBs will remain available until December 31, 2026.

FCNR(B) Emerges as Key Channel

The latest data suggests the facility has continued to attract foreign currency resources at a rapid pace. With nearly USD 41 billion mobilised by the end of July, FCNR(B) deposits have emerged as the dominant channel, accounting for about 90% of the total inflows.

The RBI's latest figures are based on data received from Authorised Dealer Banks and represent inflows mobilised under the special swap facility. (ANI)

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AI infrastructure investment widens beyond big tech: Goldman Sachs

Asianet News Central — Sat, 01 Aug 2026 15:01:06 +0530

Artificial intelligence (AI) infrastructure investment continued to broaden in July, with enterprise adoption expanding alongside sovereign AI initiatives and growing support for cloud providers, according to a Goldman Sachs research report, which said the latest announcements reflect a widening AI ecosystem beyond large technology companies.

The report noted that it captures selected AI infrastructure announcements made during July and is "not indicative of the total AI infrastructure opportunity." It said recent developments point to continued expansion in AI computing capacity, enterprise adoption and sovereign investment across global markets.

Emerging Trend: GPU Backstop Programmes

One of the key trends highlighted in the report was the increasing use of GPU backstop programmes by neocloud providers. According to Goldman Sachs, these arrangements are expected to support the growth of AI cloud providers while improving compute availability for customers.

"These backstop programs should broaden out compute availability to end customers by supporting continued neocloud growth," the report said.

Major AI Infrastructure Projects Announced

The report also highlighted a series of AI infrastructure projects announced during the month. Among them, Meta partnered with BlackRock to develop a 1 GW AI data centre campus in Texas, while IREN signed customer contracts worth USD 2.8 billion. Sharon AI announced a USD 1.32 billion cloud computing agreement and plans for an AI factory in New Zealand, reflecting continued investment in AI computing infrastructure.

Sovereign Governments Boost AI Capabilities

On the sovereign front, Goldman Sachs cited AI infrastructure initiatives announced in Saudi Arabia, Croatia and Indonesia, indicating continued efforts by governments to strengthen domestic AI capabilities and expand local data centre infrastructure.

Wider Enterprise Adoption of AI

The report also pointed to broader enterprise adoption of AI across industries. Starbucks is developing proprietary AI-powered tools for inventory management and equipment maintenance as part of efforts to improve operational efficiency, while fintech company Revolut has expanded the use of an AI behavioural model across fraud detection, credit assessment, marketing and product recommendations.

The report also highlighted AI deployments by companies including Flow Traders and Arcee AI during the month. Overall, the report suggests AI infrastructure investment continues to expand across cloud providers, enterprises and sovereign initiatives, with organisations increasingly scaling AI deployment through new computing capacity, infrastructure partnerships and broader commercial adoption. (ANI)

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India's Q1 FY27 GDP growth likely to hit 7%, beats RBI forecast: SBI

Asianet News Central — Sat, 01 Aug 2026 15:00:55 +0530

Upgraded Growth Forecast for Q1 FY27

India's economy is likely to grow around 7 per cent in the first quarter of FY27, higher than earlier expectations, supported by stronger economic indicators, improved industrial activity and a recovery in exports, according to an SBI Research Pre-Monetary Policy Committee (MPC) report released on Saturday.

The report said the growth estimate marks an improvement from the Reserve Bank of India's earlier projections, which were lowered because of geopolitical uncertainties. "In the last three policies, RBI downgraded Q1 FY27 GDP growth projection from 6.9% to 6.6% due to war in middle east. However, now we believe that situation has changed and Q1 growth print may be much better than anticipated," SBI Research said in its report. "Our preliminary estimate indicates that Q1 GDP may clock ~7.0% growth."

Strong Economic Indicators

The report attributed the improved outlook to a broad-based pickup in high-frequency indicators during the April-June quarter. According to the report, domestic passenger vehicle sales grew 24.1 per cent year-on-year in June, electricity demand increased 11.5 per cent, exports rose 15.5 per cent, industrial credit expanded 19.2 per cent and the Index of Industrial Production (IIP) grew 7.3 per cent, indicating stronger economic momentum during the quarter.

Resilience Amid Global Uncertainty

SBI Research also noted that the global environment remains uncertain, but India's domestic economy has shown resilience. "Global economy remains uncertain amidst the West Asia crisis, with diverging trends visible across countries. US economy slowed down unexpectedly in Apr-Jun 2026 quarter. India is showing signs of GDP growth coming above expectations...touching approx. 7% in Apr-Jun quarter," the report said.

Monsoon Recovery and Inflation Outlook

The report said the recovery in monsoon conditions could further support economic activity in the coming months. It noted that July's surplus rainfall reduced the nationwide rainfall deficit to about 13 per cent, while reservoir levels have returned to normal and kharif sowing is only 4.7 per cent lower than last year's level, pointing to the prospects of a better harvest.

"Kharif sowing (so far) is only 4.7% lower than the 2025 levels indicating better harvest and subsequently minimal/no impact on food inflation going forward," the report said.

Interest Rate Expectations

Despite the stronger growth outlook, SBI Research expects the RBI to keep interest rates unchanged at the upcoming MPC meeting, citing elevated inflation risks and external uncertainties. (ANI)

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Amazon raises FY26 capex to $220bn on strong AWS, AI demand

Asianet News Central — Sat, 01 Aug 2026 14:30:23 +0530

Amazon has raised its capital expenditure (capex) guidance for FY26 to around USD 220 billion from about USD 200 billion earlier, as strong demand for its Amazon Web Services (AWS) cloud platform and artificial intelligence (AI) services continues to drive investment, according to a Nuvama Research report. "Management raised their FY26 capex guidance to ~USD220bn (from ~USD200bn earlier), due to high memory costs amid robust demand for AWS and AI services," Nuvama said in its Global Pulse sector update, citing Amazon's management commentary.

Strong Q2 Performance

The report said Amazon posted stronger-than-expected second-quarter results, with revenue rising 19.6 per cent year-on-year to USD 200.6 billion, ahead of Street estimates of USD 197 billion. Operating income increased 43.2 per cent year-on-year to USD 27.5 billion, while operating margin improved to 13.7 per cent. Earnings per share of USD 5.75 also exceeded market expectations.

AWS Remains Key Growth Driver

AWS remained the key growth driver during the quarter. According to the report, "AWS revenue accelerated 36.7% YoY, adding over USD4.6bn in Q2 to an annualised revenue run rate of more than USD169bn." It added that management highlighted a USD 496 billion backlog, which grew at a triple-digit rate year-on-year, while AI revenue and Amazon's in-house chip businesses, Graviton and Trainium, each crossed a USD 25 billion annual revenue run rate with triple-digit growth.

Nuvama said AWS revenue grew to USD 42.2 billion, driven by "strong AI demand, continued enterprise cloud migration, higher core cloud consumption along with increasing adoption of Trainium and Graviton chips and incremental capacity additions." Despite elevated AI investments, AWS operating margin expanded to 39.4 per cent, reflecting the business's strong profitability.

Future Outlook and Guidance

For the current quarter, Amazon has guided for net sales of USD 197-202 billion, implying year-on-year growth of 9-12 per cent, while operating income is expected to be between USD 22.5 billion and USD 26.5 billion, the report noted.

Looking ahead, Nuvama said Amazon's cloud business continues to benefit from rising AI adoption. "Strong Cloud growth demonstrates continued investment by enterprises on strategic initiatives. While the near-term environment remains laden with uncertainty for Indian IT companies--growth in the cloud business for Amazon (and peers) bodes well from a medium- to long-term perspective," the report said. (ANI)

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Strong tax growth gives Centre fiscal buffer in Q1 FY27: ICICI Bank

Asianet News Central — Sat, 01 Aug 2026 14:00:49 +0530

Robust Tax Collections Provide Fiscal Buffer

Strong growth in direct tax collections and robust Goods and Services Tax (GST) and customs revenues have provided the Centre with a fiscal buffer in the first quarter of FY27, helping it stay on track to meet its fiscal deficit target despite higher subsidy spending, according to an ICICI Bank report.

The report said the Centre's Gross Tax Revenue (GTR) grew 14 per cent year-on-year in Q1FY27, driven by healthy growth in both direct and indirect taxes. Net tax revenue rose even faster, increasing 38 per cent year-on-year during the quarter, supported by lower transfers to states in June.

Direct tax collections increased 12 per cent year-on-year in the first quarter, with corporate tax collections rising 20 per cent, reflecting robust corporate profitability. The report also noted that as of July 13, net direct tax collections had accelerated further, growing 16.4 per cent year-on-year, indicating continued momentum in tax receipts. "The sustained strength in revenue receipts provides an important fiscal buffer and remains a key positive amid the prevailing global uncertainties," the report said.

Government Expenditure and Fiscal Health

On the expenditure front, the report said total government spending grew 11 per cent year-on-year in Q1FY27, lower than the 26 per cent growth recorded in the corresponding period last year. While revenue expenditure moderated due to lower interest payments, major subsidies remained elevated, rising 37 per cent year-on-year. At the same time, capital expenditure increased 24 per cent, reflecting the government's continued focus on front-loading productive spending.

According to the report, the fiscal deficit stood at Rs 3.1 trillion in the first quarter, accounting for 18 per cent of the Budget Estimate for FY27, the same level as a year ago. It said prudent expenditure management and strong tax collections should help the Centre meet its fiscal deficit target, although higher crude oil and fertiliser prices could increase pressure on subsidy spending in the coming months.

Broad-Based Bank Credit Growth

The report also highlighted that bank credit growth remained broad-based. Industry credit rose to a 14-year high of 19.2 per cent year-on-year in June, supported by working capital requirements and strong lending to sectors such as infrastructure, construction and vehicle manufacturing.

Credit growth to NBFCs remained elevated at 32.2 per cent year-on-year, while vehicle loan growth stayed strong at 17.3 per cent. At the same time, credit card growth remained subdued at 1.9 per cent year-on-year, and gold loan growth decelerated below the 100 per cent mark for the first time since January 2025 as gold prices declined in June.

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Tata Motors, Hyundai see robust sales growth in India in July 2026

Asianet News Central — Sat, 01 Aug 2026 14:00:30 +0530

New Delhi [India], August 1 (ANI): Tata Motors Passenger Vehicles and Hyundai Motor India reported strong growth in July 2026 sales, with Tata Motors recording a 59 per cent year-on-year increase in total passenger vehicle sales and Hyundai achieving its highest-ever monthly sales, indicating robust demand across India's passenger vehicle market.

Tata Motors' Sales Performance

Tata Motors Passenger Vehicles registered total sales of 63,760 units across domestic and international markets in July 2026, compared with 40,175 units in the same month last year, marking a 59 per cent year-on-year growth. Domestic passenger vehicle sales rose 58 per cent to 62,611 units from 39,521 units, while international business sales increased 76 per cent to 1,149 units.

Strong Growth in EV Segment

The company's electric vehicle business recorded particularly strong growth. EV sales, including domestic and international markets, more than doubled to 15,217 units in July 2026 from 7,124 units a year earlier, registering a 114 per cent year-on-year increase. The figures include sales by Tata Passenger Electric Mobility, a subsidiary of Tata Motors Passenger Vehicles.

Hyundai's Record-Breaking Month

Meanwhile, Hyundai Motor India Limited (HMIL) reported its highest-ever monthly total sales at 75,360 units in July 2026, up 25.4 per cent from a year earlier. The figure includes domestic sales of 54,210 units, which grew 23.3 per cent year-on-year, and exports of 21,150 units, up 31.4 per cent. Hyundai said July marked its highest monthly export sales in more than 100 months, highlighting strong overseas demand for vehicles manufactured in India.

Managing Director and CEO Tarun Garg said the company had started the new quarter on a strong note, with the sales performance reflecting consumer confidence in the Hyundai brand and the company's focus on "Make-in-India, Made-for-the-World." Model-level performance also remained strong for Hyundai. The company said the CRETA recorded its highest monthly sales for calendar year 2026 at 18,088 units in July, while the i20 posted its highest monthly sales for the year at 6,738 units.

Market Momentum and Outlook

The July numbers point to strong momentum across both conventional and electric passenger vehicles. Tata Motors' sharp EV growth highlights continued expansion in electric mobility, while Hyundai's record overall volumes and higher exports underline sustained demand for vehicles produced in India. The sales performance comes as automakers enter a new quarter with strong volumes, with domestic demand and export momentum emerging as key contributors to growth. (ANI)

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India G-Secs index delay temporary, not structural: Motilal Oswal

Asianet News Central — Sat, 01 Aug 2026 14:00:22 +0530

Financial veteran Motilal Oswal dismissed concerns over Bloomberg's decision to delay the inclusion of India's Government Securities (G-Secs) in its Global Aggregate Index, calling it a temporary operational pause rather than a reflection of structural flaws.

G-Secs Index Inclusion Delay a 'Temporary Pause'

"I don't fully agree with their rationale," Oswal said in an interview with ANI on the sidelines of the 9th edition of the Motilal Oswal Business Impact Conference (MOBIC) 2026 in Mumbai on Saturday. "Short-term operational hiccups or foreign investor onboarding delays may exist, but India's debt market cannot be ignored in the medium to long term."

Operational Hiccups and Global Factors Cited

Oswal acknowledged that global index providers need time to assess foreign participation workflows but stressed India's technical strengths. "They have explicitly acknowledged that India's recent market reforms are positive, but stated they need a bit more time to observe smooth operational workflows for foreign investors -- despite India having one of the fastest transaction processing systems globally," he said, adding that external factors and global market volatility likely influenced the decision.

"Given current geopolitical instability, particularly surrounding oil and Iran, they may have postponed inclusion out of caution, but it is purely a short-term delay," Oswal noted.

Optimism for Future Inclusion and Market Trends

Despite the setback, he expressed confidence that index managers will revisit the inclusion once foreign onboarding stabilizes. "I remain quite optimistic that index providers will have to reconsider bringing Indian G-Secs into the index, perhaps within the next three months," he said.

On wider market trends, Motilal Oswal pointed out that foreign investors are returning to Indian equities driven by value buying as corporate earnings and the currency outlook continue to strengthen. (ANI)

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ONGC to drill 150 deepwater wells under Samudra Manthan programme

Asianet News Central — Sat, 01 Aug 2026 13:00:32 +0530

Oil and Natural Gas Corporation (ONGC) is set to accelerate deepwater exploration under the Samudra Manthan programme, with plans to drill 150 deepwater wells over seven years and pursue nearly 5,600 million tonnes of oil equivalent (MMTOE) of deepwater and ultra-deepwater hydrocarbon potential, as India steps up efforts to strengthen domestic energy security and reduce dependence on imports.

'DeepX' Team to Steer Exploration

At the centre of ONGC's exploration drive is DeepX, a mission-mode team of more than 30 experts that will work with advanced technologies and global specialists, while using a "One Company, One Data" approach to bring together subsurface intelligence and accelerate exploration decisions. ONGC said the campaign is aimed at converting complex geological data into discoveries and faster development.

Govt Approves Rs 84,084-Crore Samudra Manthan Scheme

The push comes after the Union Cabinet approved the Rs 84,084-crore Samudra Manthan, or National Offshore Exploration Scheme, on July 31. The programme is designed to accelerate exploration in deepwater and ultra-deepwater areas through large-scale 2D and 3D seismic surveys, exploratory drilling and common offshore infrastructure.

The scheme is also intended to reduce exploration risks, attract investment and boost domestic oil and gas production, thereby strengthening energy security and reducing import dependence. The government-backed initiative will support scientific exploration of frontier basins, offshore exploratory wells, advanced technology adoption, digital programme management and capacity building. It also seeks to promote global collaboration and develop a domestic oil and gas manufacturing and services ecosystem.

Focus on Promising Basins

ONGC said its exploration campaign is already building on discoveries in India's offshore basins. The company highlighted the Utkal and Konark discoveries in the Mahanadi Offshore Basin, with exploratory well MN-DW18-1-H-D now being drilled around 23 nautical miles from Konark off the Odisha coast. The company said in a social media post that it is also pursuing opportunities across other offshore frontiers. ONGC pointed to promising indications in the Cauvery and Mahanadi basins, alongside established thermogenic gas presence in the Andaman region.

Aiming for Energy Self-Reliance

With an outlay of Rs 84,084 crore through FY2030-31, Samudra Manthan is expected to strengthen the entire offshore exploration-to-production chain. ONGC said the programme could help unlock new reserves, accelerate development of discoveries and build indigenous deepwater capabilities. The broader objective is to convert India's offshore resource potential into greater domestic production, investment and energy self-reliance.

For ONGC, the mission represents a major expansion of its deepwater exploration efforts as India seeks to secure additional hydrocarbon resources beneath its seas. (ANI)

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GST revenue hits Rs 2.11 lakh crore in July, up 15.4% year-on-year

Asianet News Central — Sat, 01 Aug 2026 12:00:53 +0530

India's gross Goods and Services Tax (GST) collections rose 15.4 per cent year-on-year to Rs 2.11 lakh crore in July 2026, driven by a sharp increase in GST revenue from imports and steady growth in domestic collections, according to data released by the Goods and Services Tax Department. Gross GST revenue stood at Rs 1.83 lakh crore in July 2025.

In July 2026, domestic gross GST revenue increased 10.1 per cent to Rs 1.45 lakh crore from Rs 1.31 lakh crore a year earlier. Revenue from imports recorded a significantly stronger growth of 28.8 per cent, rising to Rs 66,511 crore from Rs 51,626 crore in July 2025.

Net Revenue and Refunds

After accounting for refunds, net GST revenue increased 15.8 per cent year-on-year to Rs 1.81 lakh crore in July 2026, compared with Rs 1.57 lakh crore in the corresponding month last year. Net domestic revenue rose 10.5 per cent to Rs 1.27 lakh crore, while net revenue from customs-related GST climbed 30.3 per cent to Rs 54,223 crore. Total GST refunds stood at Rs 29,968 crore in July, up 13.1 per cent from Rs 26,495 crore a year earlier. Domestic refunds increased 7.3 per cent to Rs 17,680 crore, while refunds related to exports through ICEGATE rose 22.7 per cent to Rs 12,288 crore.

Financial Year-to-Date Performance

The cumulative picture for the financial year so far also remained positive. Gross GST collections during April-July 2026 rose 10.1 per cent to Rs 8.43 lakh crore from Rs 7.66 lakh crore in the year-ago period. Net GST revenue increased 9.2 per cent to Rs 7.21 lakh crore from Rs 6.61 lakh crore.

State-wise GST Performance

Among major states, Maharashtra recorded GST revenue of Rs 32,210 crore in July, up 13 per cent year-on-year, while Gujarat's collections increased 19 per cent to Rs 12,923 crore. Karnataka posted 12 per cent growth at Rs 13,854 crore, Telangana rose 19 per cent to Rs 5,819 crore and Uttar Pradesh recorded 15 per cent growth at Rs 9,651 crore.

The data showed some divergence across states, with Tamil Nadu's GST revenue declining 1 per cent, Andhra Pradesh falling 5 per cent and Madhya Pradesh declining 10 per cent. Sikkim recorded a sharper 59 per cent decline, while Himachal Pradesh and Uttarakhand saw collections fall 22 per cent and 18 per cent, respectively.

The department noted that the figures are provisional and actual numbers may vary slightly upon finalisation. (ANI)

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Commercial LPG Cylinder Price Cut by Rs 200: Check New 19-kg LPG Rates in Delhi, Bengaluru & More from August 1

Deevika NM — Sat, 01 Aug 2026 10:11:28 +0530

Restaurants, hotels, roadside eateries and other commercial establishments received a major boost on August 1 as oil marketing companies (OMCs) slashed the price of 19-kg commercial LPG cylinders by over Rs 200 across key cities. The revision, which came into effect from the first day of the month, is expected to lower operating costs for businesses that rely heavily on commercial cooking gas.

City Commercial LPG (19 kg)

City	Commercial LPG (19 kg)
Delhi	Rs 2,728.00 (Reduced by Rs 202)
Mumbai	Rs 2,691.50 (Reduced by Rs 194.00)
Kolkata	Rs 2,872.50 (Reduced by Rs 209)
Chennai	Rs 2,906.00 (Reduced by Rs 200.00)
Bengaluru	Rs 2,821.00 (Reduced by approx. Rs 200)
Hyderabad	Rs 2,985.00 (Reduced by Rs 206.00)

The August 1 revision reduced commercial LPG cylinder prices by around Rs 200 across cities, while domestic 14.2-kg LPG cylinder prices remain unchanged.

Also Read: Commercial LPG cylinder price slashed by Rs 202; check new rates

The latest cut applies only to commercial LPG cylinders used by hotels, restaurants, food outlets, caterers and other businesses. There has been no change in the price of the 14.2-kg domestic LPG cylinder, which continues to be sold at the existing rates in different states. Domestic cooking gas prices are revised separately and depend on government policy and subsidy decisions.

The reduction comes at a time when global energy markets remain volatile due to geopolitical tensions and fluctuations in crude oil prices. Despite the uncertainty in international markets, the decline in commercial LPG prices is expected to provide relief to businesses, particularly in the hospitality and food service sectors, where fuel is a significant operational expense.

Industry observers believe the latest revision could help restaurants and small businesses manage costs more effectively, although the extent to which the benefit is passed on to consumers will depend on individual businesses.

The monthly LPG price revision will continue to be closely watched by businesses and consumers alike, as future changes will depend on trends in global fuel prices, exchange rates and domestic energy policy.

Also Read: LPG price cut: PM Modi deserves thanks, says BJP's Dilip Ghosh

Critical minerals demand to soar by 2040, USD 750 bn needed: IEA

Asianet News Central — Sat, 01 Aug 2026 10:00:54 +0530

Global demand for critical minerals is set to rise strongly through 2040, driven by the expansion of electric vehicles, battery storage, renewable energy and electricity networks, while supply gaps for key minerals such as copper and lithium are expected to persist, according to the International Energy Agency's (IEA).

Demand and Investment Outlook to 2040

The report suggests that meeting future demand will require more than USD 750 billion in investment in mining and refining between now and 2040 under the Stated Policies Scenario (STEPS). Copper is expected to account for the largest share of investment at about USD 310 billion, followed by nickel at USD 280 billion.

The IEA projects lithium demand to more than triple by 2040 under STEPS, while graphite demand is expected to double and nickel demand to increase by 65 per cent. Rare earth demand is projected to rise by around 50 per cent, while copper demand is set to grow by more than 25 per cent, adding around 7 million tonnes by 2040.

Supply Gaps and Refining Bottlenecks

Despite a growing pipeline of mining projects, the agency said supply gaps for copper and lithium could remain through 2035. A gap also emerges for cobalt, largely due to the export quota introduced by the Democratic Republic of the Congo, while nickel's supply outlook has tightened somewhat compared with last year.

The bigger vulnerability lies further down the supply chain. Mining projects are becoming more geographically diversified, but refining and downstream processing remain highly concentrated. China currently accounts for just under 50 per cent of global copper refining, 70 per cent of lithium refining, 75 per cent of cobalt refining, 85 per cent of magnet rare-earth separation and more than 90 per cent of battery-grade graphite production. The IEA said this imbalance could create bottlenecks even as new mining capacity comes online.

Announced projects outside dominant suppliers point to substantial increases in lithium and graphite mining, but refining and cathode-material capacity remains considerably smaller.

Role of Recycling and Policy

Recycling is expected to become an increasingly important source of supply. Under STEPS, secondary supply could roughly double its share, with average recycling rates rising from around 10 per cent currently to nearly 20 per cent by 2040.

The report said timely policies to reduce investment risks and support refining, processing and recycling capacity could help create more balanced and resilient critical-mineral supply chains. (ANI)

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AI to reshape insurance, early adopters to gain competitive edge: report

Asianet News Central — Sat, 01 Aug 2026 09:30:27 +0530

Artificial intelligence is set to reshape the economics of the global insurance industry, with carriers, brokers and technology providers that move early potentially gaining a significant competitive edge as AI changes underwriting, distribution, productivity and the pace of innovation, according to a McKinsey report.

The report said insurers will increasingly have to choose between competing through scale and cost or through deep specialisation, while building the technology, data and operating capabilities required to respond at "technology speed". Companies that delay AI transformation could see the competitive gap widen, while those able to test, learn and scale faster may build a structural advantage.

Expanding Markets and Improving Operations

McKinsey said AI could help insurers expand into emerging risk pools, improve underwriting and claims accuracy and shift the industry from traditional risk transfer towards continuous, data-driven risk management.

New areas such as AI liability, nonphysical business interruption and AI-augmented workforce transitions could expand the insurance market, while parametric products, embedded micro-coverage and on-demand policies could make previously uneconomic segments more accessible.

Addressing Profitability and Productivity Challenges

The report noted that the global insurance industry has struggled to translate premium growth into stronger profitability. Gross written premiums expanded at about 4.9 per cent annually between 2005 and 2025 to an estimated $8.3 trillion, while profits before tax grew by around 4.3 per cent to approximately $580 billion.

AI could also address the sector's longstanding productivity challenge. McKinsey said insurance cost ratios have risen globally despite heavy investment in automation and digital tools. However, AI-driven transformations are already producing 20-40 per cent reductions in customer onboarding costs and 10-20 per cent improvements in insurance agent productivity in some domains.

A Major Shift in Distribution

Distribution could undergo a major shift as AI assistants increasingly compare coverage, prices and products and potentially influence customers' purchase decisions. The report said the "front door" to insurance could increasingly become an AI assistant, platform or ecosystem rather than a traditional agent or insurer website.

The Imperative for Insurers

McKinsey said insurers will need to build faster decision-making, stronger data architecture and closer integration between business and technical teams. AI leaders have already generated six times greater total shareholder returns than laggards, highlighting the potential financial consequences of moving quickly. (ANI)

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Gold, Silver Rates Today (August 1): Gold Rises, Silver Holds Firm; Check Latest Prices Across Major Cities

Deevika NM — Sat, 01 Aug 2026 09:22:58 +0530

Gold prices traded higher across India on Saturday, August 1, tracking gains in the international bullion market, while silver prices remained firm at elevated levels. Investors continued to favour precious metals amid global economic uncertainty, currency fluctuations and expectations surrounding major central bank policy decisions.

According to the latest market update, 24-carat gold increased by around Rs 100 per 10 grams, while 22-carat gold also registered a similar rise in most major cities. At the same time, silver was priced at Rs 2,34,900 per kilogram (Rs 234.90 per gram) in the domestic market, reflecting steady demand from both industrial users and retail buyers.

Gold & Silver Rates Today (August 1)

City	22K Gold (Rs /10g)	24K Gold (Rs /10g)	Silver (Rs /kg)
Delhi	Rs 1,32,710	Rs 1,44,770	Rs 2,34,900
Mumbai	Rs 1,32,560	Rs 1,44,610	Rs 2,34,900
Kolkata	Rs 1,32,560	Rs 1,44,610	Rs 2,34,900
Chennai	Rs 1,32,560	Rs 1,44,610	Rs 2,34,900
Bengaluru	Rs 1,32,560	Rs 1,44,610	Rs 2,34,900
Hyderabad	Rs 1,32,560	Rs 1,44,610	Rs 2,34,900

Bullion analysts say the movement in gold and silver prices continues to be influenced by global macroeconomic developments, including interest rate expectations, geopolitical tensions and the performance of the US dollar. Gold remains a preferred safe-haven investment during periods of uncertainty, while silver is supported by both investment demand and industrial consumption.

In India, retail bullion prices vary slightly from one city to another due to local taxes, transportation costs and jewellers' margins. Buyers are advised to verify the prevailing rates with local jewellers before making purchases, especially during the festive and wedding season when demand for gold jewellery typically rises.

With global bullion markets expected to remain volatile, analysts believe both gold and silver prices could witness further movement in the coming sessions. Investors are advised to monitor international trends, currency movements and domestic demand before making fresh purchases or investment decisions.

NSE pays Rs 714.74 crore to SEBI as part of revised settlement

Asianet News Central — Sat, 01 Aug 2026 09:00:56 +0530

The National Stock Exchange of India Limited (NSE) has made a payment of Rs 714.74 crore towards a demand raised by the Securities and Exchange Board of India (SEBI), as part of the exchange's proposed settlement with the market regulator.

In an exchange filing on Friday, NSE said the payment follows SEBI's communication regarding the in-principle acceptance of the revised settlement terms proposed by the company. The exchange had disclosed the development in an earlier intimation dated July 30, 2026.

Details of the Settlement Payment

The latest payment is in addition to a deposit of Rs 776.47 crore that NSE had previously made with SEBI.

According to the exchange, the earlier deposit and the payment made against the demand notice dated July 30, 2026, will be adjusted against the total settlement amount of Rs 1,491.21 crore.

"The Company has made a payment of the demand of Rs. 714.74 crore," NSE said in its filing. The combined amount of Rs 776.47 crore deposited earlier and the latest payment of Rs 714.74 crore comes to Rs 1,491.21 crore, matching the settlement amount proposed under the revised terms.

Regulatory Context and Disclosures

NSE said the disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, had already been provided in its July 30 filing. The exchange also referred to the applicable SEBI Master Circular dated January 30, 2026, governing such disclosures.

The development comes as NSE continues to address regulatory matters with SEBI through the settlement mechanism. The exchange had earlier informed the stock exchanges about SEBI's in-principle acceptance of the revised settlement terms. The latest filing primarily confirms that the financial obligation associated with the demand has been paid and clarifies how the amount deposited earlier with SEBI will be adjusted against the overall settlement amount.

NSE, which operates India's largest stock exchange by trading volumes across several segments, is required to make regulatory disclosures under the SEBI Listing Regulations regarding material developments that may affect the company. (ANI)

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India's real estate: Lower loan rates help, but Mumbai, NCR pricey

Asianet News Central — Sat, 01 Aug 2026 08:30:22 +0530

India's residential real estate market is showing mixed trends, with lower home loan rates improving buyer sentiment in many cities while affordability continues to remain a major challenge in Mumbai and the National Capital Region (NCR), according to a market outlook report by real estate developer NBR Group.

The report said the Reserve Bank of India's cumulative 125 basis points of repo rate cuts during the first half of 2026 have reduced borrowing costs and made home loans cheaper, providing support to housing demand across several cities. "The Reserve Bank of India's cumulative 125 basis points of repo-rate cuts through the first half of 2026 have made home loans meaningfully cheaper, and that relief is filtering through to buyer sentiment in most cities," the report said.

Affordability a Major Hurdle in Mumbai, NCR

However, the report noted that the benefits of lower interest rates have not been uniform across the country. It said Mumbai and the National Capital Region continue to remain beyond the reach of the average household on affordability measures, even as residential property prices across India's major cities have increased by as much as 19 per cent year-on-year. According to the report, the country's housing market is increasingly witnessing different trends across cities rather than moving in one direction. "Yet Mumbai and the National Capital Region remain stubbornly out of reach for the average household by affordability benchmarks," the report stated.

Contrasting Trends in Delhi-NCR and Bengaluru

The report highlighted that Delhi-NCR has simultaneously witnessed a sharp rise in new housing supply despite affordability concerns. It said new residential launches in Delhi-NCR jumped 39 per cent, indicating that infrastructure-led development corridors are encouraging developers to launch more projects even though affordability remains under pressure. "Delhi-NCR, somewhat counterintuitively, has also seen a 39 per cent jump in new launches -- proof that infrastructure-led corridor growth can coexist with affordability strain rather than resolve it," the report observed.

Bengaluru, meanwhile, presents a different picture. According to the report, the city has recorded more than 25,000 residential launches during the first half of 2026, the highest ever for a six-month period. Most of these launches have been concentrated in Bengaluru's southern and eastern growth corridors, suggesting that developers are attempting to match supply with growing demand. "Bengaluru offers a useful counterpoint: residential launches touched a record half-year figure of more than 25,000 units, concentrated in the city's southern and eastern growth corridors, suggesting supply is at least attempting to keep pace with demand in a way it isn't everywhere else," the report said.

A Segmented, Maturing Market

The report said these contrasting trends show that India's housing market is becoming increasingly segmented, with affordability, infrastructure development and supply conditions varying significantly across regions. According to the report, while lower interest rates are supporting housing demand, they alone are not enough to solve affordability challenges in some of the country's largest property markets.

The report added that India's real estate sector is entering a more mature phase where local market dynamics are playing a greater role than national trends. Instead of moving in a single direction, housing markets across cities are responding differently based on affordability, infrastructure expansion and the availability of new housing supply, making the residential sector more diverse than in previous years. (ANI)

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ICEA outlines roadmap for globally competitive Indian fabless chip firms

Asianet News Central — Fri, 31 Jul 2026 22:30:27 +0530

The India Cellular and Electronics Association (ICEA) on Friday outlined a roadmap for building globally competitive Indian fabless semiconductor companies, with stakeholders identifying priority chip products, stronger intellectual property (IP) creation, startup support and easier access to capital as key focus areas under the government's Semicon 2.0 programme.

The roadmap emerged at the second India Fabless Semiconductor Design Acceleration Workshop, organised by ICEA in collaboration with FITT-IIT Delhi. According to an ICEA press release, the recommendations from the workshop will contribute to a National Semiconductor Product Roadmap to help India build globally competitive semiconductor product companies. "The recommendations emerging from the workshop will contribute towards a National Semiconductor Product Roadmap, identifying priority semiconductor products, sector-wise opportunities and actionable implementation pathways to build globally competitive Indian fabless semiconductor companies," the release said.

Semicon 2.0: From Design to Commercial Products

Addressing the workshop, Electronics and IT Secretary S Krishnan said the next phase of India's semiconductor journey should focus on converting the country's chip design strengths into commercially successful products. "With Semicon 2.0, our focus is to help Indian companies scale, strengthen indigenous intellectual property, attract greater private investment, and, most importantly, transform world-class chip design into globally competitive products," Krishnan said.

He added, "We must ensure that India's semiconductor capabilities translate into products designed, owned, and commercialised from India, positioning the country as a leading global semiconductor product nation."

Creating a Broader Innovation Ecosystem

India Semiconductor Mission (ISM) CEO Amitesh Kumar Sinha said Semicon 2.0 aims to create a broader innovation ecosystem by bringing together startups, established companies, overseas collaborators and investors. "The expanded framework will enable startups, established companies, overseas collaborators, and investors to participate in building India's semiconductor capabilities," Sinha said.

"By strengthening long-term financing, fostering indigenous IP, improving market access, and supporting the transition from chip design to commercial products, we are laying the foundation for globally competitive Indian semiconductor companies."

Prioritising Key Sectors and Reducing Imports

According to the release, participants discussed opportunities to develop semiconductor products for sectors such as mobile phones, consumer electronics, automotive, telecom, IT hardware, industrial electronics, medical electronics, defence and power electronics. The deliberations also covered semiconductor IP creation, silicon validation infrastructure, commercialisation and market development.

ICEA Chairman Pankaj Mohindroo said India's expanding electronics manufacturing ecosystem now needs a parallel push in semiconductor product development. "The next phase must focus on creating Indian-owned semiconductor products, IP and globally competitive technology companies," he said, adding that products such as application processors, power management ICs, automotive microcontrollers and networking processors would be critical for increasing domestic value addition and reducing import dependence. (ANI)

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GeM launches 10th Foundation Day celebrations, fulfills PM's vision

Asianet News Central — Fri, 31 Jul 2026 22:01:23 +0530

Government e-Marketplace (GeM) on Friday launched its 10-day celebrations leading up to its 10th Foundation Day, with Chief Executive Officer Mihir Kumar saying the platform has fulfilled Prime Minister Narendra Modi's vision of creating a transparent digital marketplace that enables businesses to work with the government while reducing corruption. "Our Hon'ble Prime Minister had envisioned creating a digital marketplace that would provide people an opportunity to do business, eliminate corruption and ensure everyone could transparently connect with the government for business. GeM has made that vision a reality," Kumar told reporters on the sidelines of the event.

A Decade of Transformation and Future Vision

The celebrations began with the unveiling of the official GeM 10th Foundation Day logo, marking a decade of the government's public procurement platform. Addressing the gathering, Kumar reflected on GeM's transformation over the past decade and outlined its vision for the next phase of growth, innovation and stakeholder-centric public procurement. He said the Foundation Day celebrations are aimed at recognising the contribution of all stakeholders while gathering suggestions to further strengthen the platform. "This is not just our celebration - it belongs to all our stakeholders, including buyers, sellers and others associated with the procurement ecosystem. We also want to take our outreach to universities and states to understand how we can make the Government e-Marketplace even better," Kumar said.

Stakeholder Engagement and Celebratory Events

As part of the celebrations, GeM will organise a Buyer Meet on August 5 and a Seller Roundtable on August 10 before culminating in its 10th Foundation Day celebrations. Distinguished buyers and sellers will also be recognised for their contribution to strengthening the GeM ecosystem.

The ministry said the launch of the celebrations marks the beginning of a year-long series of stakeholder engagement initiatives and outreach programmes across the country. Through special events, dialogues and collaborative platforms, GeM will bring together buyers, sellers, policymakers, industry representatives and ecosystem partners to showcase its contribution to transparent, efficient and inclusive public procurement over the past decade. (ANI)

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IOC posts Rs 2,661 crore loss in Q1 despite 26% revenue surge

Asianet News Central — Fri, 31 Jul 2026 21:00:27 +0530

State-run Indian Oil Corporation (IOC) reported a standalone net loss of Rs 2,661 crore for the first quarter of FY27, compared with a net profit of Rs 5,689 crore in the corresponding quarter last year, as rising crude oil prices following the West Asia conflict weighed on the company's profitability.

The company, however, reported a 26 per cent year-on-year increase in revenue from operations to Rs 2,75,972 crore during the April-June quarter, up from Rs 2,18,608 crore in the same period of FY26. In a press release issued on Friday, Indian Oil said, "Decrease in Profitability is mainly on account of rise in crude cost due to West Asia conflict."

Record Operational Performance

Operationally, the company posted its highest-ever first-quarter crude throughput at 19.165 million metric tonnes (MMT), up 3 per cent from 18.683 MMT in the year-ago period. Refinery capacity utilisation improved to 109.4 per cent from 106.7 per cent a year earlier, while fuel and loss fell to a record low of 8.04 per cent in the post-BS VI era.

Indian Oil's cross-country pipeline network also recorded its highest-ever quarterly throughput at 28.548 MMT, a 9 per cent increase over 26.256 MMT in the corresponding quarter last year.

Sales Growth and Market Share

The company's petroleum sales rose 1 per cent to 22.542 MMT during the quarter. It said its domestic market share increased to 43.1 per cent from 41.5 per cent a year ago, while quarterly sales of petrol (MS) and diesel (HSD) touched record highs of 4.522 MMT and 10.866 MMT, respectively.

Gas and Petrochemicals Business Improves

Natural gas sales increased 11 per cent year-on-year to 1.873 MMT from 1.685 MMT, while the petrochemicals business reported an improvement in profitability, supported by higher sales of products such as LAB, BA, PTA and butadiene. Gas segment profit also increased significantly during the quarter. (ANI)

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ADNOC to Shift Crude Pricing Methodology from November 2026

Asianet News Central — Fri, 31 Jul 2026 21:00:27 +0530

ADNOC Announces Shift to Prompt-Month Pricing

Abu Dhabi National Oil Company (ADNOC) has announced an update to the Official Selling Price methodology for its Abu Dhabi crude grades, transitioning to a prompt-month pricing structure following a regular commercial review.

According to ADNOC, effective November 1, 2026, the state-owned energy group will shift from its current ICE Futures Abu Dhabi-based pricing mechanism to a prompt-month pricing framework. The existing model utilizes the Murban futures contract and prices crude two months ahead of loading.

Under the revised approach, pricing will be based on the Platts Dubai benchmark, supplemented by an ADNOC-announced differential set in the month preceding the target delivery month. The updated methodology will apply across all ADNOC Abu Dhabi onshore and offshore crude grades, including Murban, Das, Umm Lulu, and Upper Zakum.

The company stated that this adjustment aligns pricing more closely with the physical month of loading. "ADNOC continues to see strong demand for its crude grades and remains focused on providing reliable energy supplies to customers around the world, supported by its trading, shipping and logistics capabilities," the company said in a statement.

Rationale and Commitment to Transparency

The energy producer noted that the structural revision aims to enhance commercial clarity across its global operations and investor network. "Moreover, the new pricing mechanism reinforces ADNOC's commitment to pricing transparency for its growing customer and investor base," the report noted.

No Impact on Financial Instruments or Operations

The company clarified that the transition will not affect existing financial structures or market liabilities associated with its debt instruments. "The change in pricing mechanism is not expected to have a material impact on any ADNOC listed instruments, including issuances completed under ADNOC Murban's GMTN or Sukuk programs," the company stated.

ADNOC added that operational commitments and physical crude deliveries remain unaffected by the shift in market valuation methodology. "ADNOC Group will continue to meet all of its obligations with regard to delivery of its Abu Dhabi onshore and offshore crude grades," the report stated. (ANI)

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Bloomberg defers decision on Indian bonds' global index inclusion

Asianet News Central — Fri, 31 Jul 2026 20:31:21 +0530

Bloomberg Index Services Limited (BISL) has deferred a decision on including Indian government bonds in the Bloomberg Global Aggregate Index, saying recent market reforms need more time to become firmly established before a final decision is taken.

In an official update on its ongoing review, BISL said the Indian government bond market has made "meaningful progress" towards meeting the standards required for inclusion, but added that market participants want to see the recent changes become part of regular market practice.

"BISL believes the Indian government bond market continues to make meaningful progress toward meeting the global standards expected for inclusion," the update said.

Acknowledged Progress and Market Reforms

The index provider noted that since publishing the results of its consultation earlier this year, it has continued discussions with investors, regulators, custodians and other stakeholders, who have broadly recognised the progress made in improving accessibility to India's government bond market. According to the update, electronic trading capabilities for Indian government bonds have continued to expand, with automated trading platforms now supporting execution across several major investor regions. It also highlighted India's recent decision to remove withholding tax and capital gains tax for eligible foreign investors in government bonds, calling it "a significant enhancement to the market's post-trade framework by reducing operational complexity and improving settlement efficiency."

Market Participant Feedback and Concerns

However, BISL said feedback from market participants suggests that these reforms should become more firmly established before any decision on index inclusion is taken. "Many market participants would like to see these enhancements become more firmly established in day-to-day market practice before a decision is made on index inclusion," it said.

The update added that while automated trading capabilities continue to expand, respondents said implementation has not yet been completed across all major investor regions. Investors also want to see further evidence that recent market reforms translate into more efficient operational workflows, including improvements to account opening and onboarding processes for foreign investors.

Rationale for Upholding Benchmark Standards

BISL said the Bloomberg Global Aggregate Index is a flagship benchmark for global investment-grade fixed income markets and underpins a wide range of investment products worldwide. "As the Bloomberg Global Aggregate Index serves as a flagship benchmark... BISL believes it is appropriate that any inclusion decision be supported not only by regulatory and market structure reforms, but also by demonstrated operational efficiency across the diverse range of investors that track and benchmark against the index," the update said.

BISL said it believes "additional time is warranted" for the recent market enhancements to be fully reflected in day-to-day market practice before making a decision on India's inclusion. It added that it will continue engaging with market participants and provide a further update as the review progresses. (ANI)

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Looking for Long Battery Life? OnePlus N6x Brings a 7000mAh Powerhouse on a Budget

Zetan Kumari — Fri, 31 Jul 2026 18:21:24 +0530

OnePlus has unveiled its latest device, the OnePlus N6x, which is positioned as an affordable device with numerous attractive features. The smartphone presents a big HD+ LCD screen, which has a size of 6.8 inches, a 120Hz refresh rate, and supports a peak brightness of 900 nits. Moreover, the model has got many novelties, including Eye Protection Mode, Dark Mode, and temperature adjustment settings for the monitor. The phone utilizes the MediaTek Dimensity 6360 Apex octa-core silicon, which powers the device.

In terms of storage, this new device has 4GB of RAM and the maximum internal storage of 128GB. The developers have initiated an efficient vapor chamber cooling system for the phone, which allows it to maintain the required temperature during gaming sessions or intense use of the device.

Camera and Video Recording

Equipped on the back side of the OnePlus N6x is 13 MP rear camera supported by auto-focus and 10x digital zoom functions. As for the selfies and video calls, there's a 5 MP camera on the front side of the device. The OnePlus N6x can shoot videos at the resolution of 1080p with a frame rate of 30 fps.

Without a doubt, the most outstanding feature of this smartphone is its huge 7,000 mAh battery. The battery supports 15W fast charging. However, there's another feature of the device's battery—5 W reverse wired charging. This implies the possibility of charging the other gadgets from the OnePlus N6x as though it were a power bank.

Available in Two Colours

The OnePlus N6x is a dual SIM smartphone equipped with OxygenOS 16 on Android 16. Moreover, it is also certified to meet MIL-STD-810H standard of durability. The phone is available in two colours, namely, Burgundy Red and Ice Blue. The weight of the phone is 214 g. Obviously, this budget smartphone has been designed for extended battery usage.

How Much Does It Cost? Are There Any Offers?

The OnePlus N6x smartphone comes in two editions. The one that has 4GB RAM and 64GB of storage space will cost you ₹18,999. On the other hand, the one having 4GB RAM with 128GB of storage space will cost you ₹20,999. Moreover, by using particular bank cards to make your payment, you can receive a cashback worth ₹1,500. In addition, there is an offer for free EMI of up to six months.

Top FD Rates in India: Full List of Banks Offering the Best Fixed Deposit Returns

Zetan Kumari — Fri, 31 Jul 2026 18:07:44 +0530

Highest FD Interest Rate: For many investors in India, Fixed Deposits (FDs) are the go-to option for safe and guaranteed returns. But just putting your money in an FD isn't enough; you need to know which bank is offering the best interest rates. With several banks revising their FD rates this year, it's crucial to stay updated. So, which bank is giving the highest interest right now? Let's find out.

Which bank is offering the highest interest?

For fixed deposits under ₹3 crore, Canara Bank is offering general customers an annual interest rate between 3% and 6.60%. For senior citizens, this rate goes up, ranging from 3% to 7.10%. The bank is offering its highest rate of 6.60% on a 555-day FD. Senior citizens get 7.10% for the same tenure. Additionally, Canara Bank is giving an extra 0.10% interest to super senior citizens (aged 80 and above) for FDs with tenures of 444 days and 555 days.

Meanwhile, Union Bank of India is offering interest rates from 2.70% to 6.65% for the general public, and 3.20% to 7.15% for senior citizens. This bank also has its best offer on a 555-day FD, giving 6.65% to regular customers and 7.15% to senior citizens.

Here’s a quick look at the maximum rates offered by other major banks:

State Bank of India (SBI): 6.45% for general customers and 6.90% for senior citizens.
HDFC Bank: 6.50% for general customers and 7.00% for senior citizens.
ICICI Bank: 6.50% for general customers and 7.00% for senior citizens.
Punjab National Bank (PNB): 6.70% for general customers and 7.20% for senior citizens.
Bank of Baroda: 6.75% for general customers and 7.25% for senior citizens.

The Power of Fixed Deposits

Here are the rates from a few more banks:

Bank of India: Up to 6.70% for general customers and 7.20% for senior citizens.
Indian Bank: Up to 6.80% for general customers and 7.30% for senior citizens.
Central Bank of India: Up to 7.00% for general customers and 7.50% for senior citizens.
Yes Bank: Up to 7.10% for general customers and 7.60% for senior citizens.
Bandhan Bank: Up to 7.75% for general customers and around 8.25% for senior citizens.
DCB Bank: Also offers up to 7.75% for general customers and around 8.25% for senior citizens.
AU Small Finance Bank: Up to 7.25% for general customers and 7.75% for senior citizens.
Ujjivan Small Finance Bank: Up to 8.05% for general customers and 8.55% for senior citizens.

Disclaimer: Asianet News does not provide investment advice. This information is for educational purposes only. Please consult with a financial expert before making any investment decisions.

West Asia crisis: MoHUA asks RERAs for 4-month extension to realty

Asianet News Central — Fri, 31 Jul 2026 17:00:53 +0530

The Ministry of Housing and Urban Affairs (MoHUA) has advised all State Real Estate Regulatory Authorities (RERAs) to grant a four-month extension in the registration and corresponding completion timelines of eligible real estate projects affected by disruptions arising from the ongoing situation in West Asia.

In an advisory issued on Friday, the Ministry said the prevailing situation in West Asia has adversely affected global supply chains, resulting in shortages of construction materials and impacting the timely execution of real estate projects.

MoHUA Invokes Force Majeure Clause

The Ministry noted that the Department of Expenditure, Ministry of Finance, through an Office Memorandum dated April 29, 2026, has treated the ongoing West Asia situation as "war" for the purpose of invoking the Force Majeure clause.

Referring to the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), the Ministry said Section 6 allows extension of registration of a real estate project on account of Force Majeure, which includes "war" affecting regular development of a project. Accordingly, MoHUA advised State RERAs to grant a four-month extension in the registration and completion timelines of registered real estate projects whose completion date, revised completion date or extended completion date falls on or after February 28, 2026.

To reduce procedural delays, the Ministry also recommended that State RERAs issue a common order granting such extensions instead of requiring separate applications from individual projects.

NAREDCO Welcomes Advisory

Welcoming the advisory, National Real Estate Development Council (NAREDCO) President Parveen Jain said, "NAREDCO sincerely welcomes the timely and pragmatic advisory issued by the Ministry of Housing and Urban Affairs. The ongoing geopolitical situation in West Asia has significantly impacted the availability and cost of construction materials, resulting in unavoidable delays in project execution."

He further urged State regulators to implement the advisory uniformly, saying, "Timely extension of project registration and completion timelines will provide much-needed relief to developers facing circumstances beyond their control due to the ongoing war-related disruptions. At the same time, it will protect the interests of homebuyers by enabling projects to be completed in an orderly manner, avoiding unnecessary litigation and ensuring greater certainty for all stakeholders."

NAREDCO said the advisory reflects a balanced approach by addressing the challenges faced by developers while safeguarding the interests of homebuyers, and called on all State RERAs to implement the Ministry's recommendations at the earliest. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian markets end week in green; SENSEX up 166 pts, NIFTY at 24,383

Asianet News Central — Fri, 31 Jul 2026 17:00:34 +0530

Indian equity benchmarks ended the week in the green on Friday as positive momentum sustained trading session gains. The BSE SENSEX settled at 78,094.64 points, up 166.49 points or 0.21 per cent, while the NSE NIFTY 50 gained 66.45 points or 0.27 per cent to close at 24,383.60 points.

Market Analysis and Sector Performance

Vinod Nair, Head of Research at Geojit Investments Limited, noted that while positive momentum continued, profit booking emerged as caution persisted amid elevated yields and potential rate-hike concerns. "The sustainability of the recovery will depend largely on the ongoing earnings season, which is currently outperforming forecasts, and on a reduction in global risks. The domestic IT index witnessed profit booking following its recent rally," Nair stated.

Top Gainers and Losers

Financial and auto stocks led the gains, with Bajaj Finance surging 8.32 per cent, Bajaj Finserv rising 6.37 per cent, and Jio Financial Services adding 3.71 per cent. Mahindra & Mahindra, Shriram Finance, and Tata Motors Passenger Vehicles also ended higher.

Nair highlighted that domestic technology stocks witnessed selling following their recent rally. "A rebound in global chipmakers, supported by strong earnings and spending plans, eased concerns over AI valuations, putting pressure on domestic technology stocks," Nair said.

On the downside, technology and consumer stocks faced selling pressure, with TCS falling 2.71 per cent, Eternal declining 2.58 per cent, and Wipro losing 1.38 per cent, alongside declines in Adani Enterprises and Tata Consumer Products.

Global Cues and Commodity Markets

Asian markets traded mostly higher, with Japan's Nikkei 225 surging 3.92 per cent and Taiwan Weighted adding 7.39 per cent, while the Straits Times index fell 0.79 per cent.

At the time of reporting, Brent crude was trading up 0.52 per cent at USD 87.33 per barrel, while gold slipped 1.16 per cent to USD 4,055.78.

Future Outlook

Nair further pointed out that as the corporate reporting period progresses, market participants will monitor the breadth of the performance. "As the earnings season gathers pace, markets will seek confirmation that the recent improvement in earnings is broad-based rather than concentrated in a few sectors," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Singapore's labour market expands for 19th straight quarter in Q2 2026

Asianet News Central — Fri, 31 Jul 2026 17:00:33 +0530

Singapore's labour market continued to expand in the second quarter of 2026 despite continued global uncertainty, with total employment rising for the 19th consecutive quarter, while unemployment rates remained low and stable, according to advance estimates released by the Ministry of Manpower, Singapore, on Friday.

Employment Growth Continues

The ministry said total employment increased by 10,700 in the April-June quarter, up from 9,400 in the first quarter of 2026 and broadly similar to the 10,400 increase recorded in the corresponding quarter last year. Resident employment continued to grow, although at a slower pace than in the previous quarter, with growth mainly in essential and public services. Non-resident employment growth, which had slowed in the first quarter, picked up in the second quarter, driven largely by the construction and manufacturing sectors.

Unemployment Remains Low Despite Rise in Retrenchments

The release said unemployment rates remained low and broadly stable in June 2026. The overall unemployment rate stood at 2.0 per cent, unchanged from March 2026, while the resident unemployment rate remained at 2.9 per cent. The citizen unemployment rate eased slightly to 3.0 per cent from 3.1 per cent in March.

The number of retrenchments rose from 3,830 in the first quarter to 4,500 in the second quarter, with the increase concentrated in some outward-oriented sectors and driven primarily by business restructuring. However, the ministry said retrenchments remained well below levels typically seen during periods of economic downturn.

Positive Outlook and Government Support

Looking ahead, the ministry said forward-looking indicators improved in June. The share of firms expecting to hire over the next three months increased from 40.6 per cent in May to 43.9 per cent in June, while the proportion expecting to raise wages rose from 23.7 per cent to 29.3 per cent. At the same time, the share of firms expecting to retrench declined from 3.2 per cent to 2.7 per cent.

"The improvement in hiring, wage, and retrenchment expectations suggests that labour demand is resilient, even as firms remain cautious given economic uncertainties and continued business restructuring in some sectors," the ministry said.

The government will continue supporting employers and workers through programmes focused on workforce transformation, skills development, career support and job redesign, while a comprehensive Labour Market Report for the second quarter of 2026 will be released in mid-September. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

EPFO clears claim backlog, targets settlement in two days: Official

Asianet News Central — Fri, 31 Jul 2026 17:00:27 +0530

EPFO Aims for Same-Day Claim Settlement

The Employees' Provident Fund Organisation (EPFO) has almost cleared its claim settlement backlog and expects most fresh claims filed by members to be settled on the same day or within a maximum of two days, Ramesh Krishnamurthy, Central Provident Fund Commissioner (CPFC), EPFO, said on Friday.

"We have almost cleared all our backlog of claim settlements. In the new system, we are seeing auto-settle claims as high as 90 per cent. We hope that most of the claims filed by members will be settled either on the same day or within a maximum of two days," Krishnamurthy said. He said this while addressing the Global Industrial Relations Summit with a theme of Industrial Relations in the fast-shifting Global Landscape organised by FICCI.

Focus on Compliance Reforms and Member Services

Krishnamurthy said EPFO's new employment schemes and ongoing reforms are focused on providing world-class member services while simplifying compliance for employers. The organisation will now focus on compliance-related reforms to make interactions easier for employers and to strengthen trust in EPFO as a reliable social security institution for both employers and employees.

"I would like to highlight the fact that the new employment schemes and the reforms that EPFO has taken focus on providing the best world-class member services. I have also assured all employers that we will now be focusing on compliance-related reforms. Hopefully, we will be introducing much more simplification in the way employers interact with EPFO. I think, net-net, the entire set of reforms will give employees and employers much more trust. They will be able to have EPFO as a very reliable partner in their social security and provide for their retirement," he said.

Claim Settlement via BHIM App Soon

Krishnamurthy said EPFO will introduce provident fund claim settlement through the BHIM app, enabling claims to be credited directly to members' UPI-linked bank accounts. The framework is expected to be rolled out within about a month.

"As our Minister has said, the claim settlement process we will be introducing through the BHIM app and the claim will be settled through the UPI-linked bank account. So this framework will also get implemented in maybe a maximum a month," he said.

Social Security for Gig and Platform Workers

On bringing gig and platform workers under the social security framework, Krishnamurthy said the Code on Social Security provides for the government to introduce a dedicated scheme for gig and platform workers and other unorganised workers. Once the government notifies the scheme, it will also announce the implementing agency, he said.

As a part of the Code on Social Security, there is a provision for the government to come out with a scheme for gig and platform workers and other unorganised workers. The moment the government comes out with a scheme, it will also announce the implementing agency. Once that is there, the scheme will make sure that it can be implemented either by EPFO or any agency the government decides, he said.

On EPF Interest Rate Hike

Responding to a question on whether the Employees' Provident Fund (EPF) interest rate could be raised above the current 8.25 per cent, Krishnamurthy said it was too early to comment.

"It is too premature to say. At this moment we have already credited and this is something which is a very significant achievement for EPFO. In a single shot, over 34 crore member accounts were credited as on July 3 and we transferred nearly Rs 1.44 lakh crore as interest at the rate of 8.25 per cent. I think that is a huge thing," he said. (ANI)

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ANMI urges govt to cut STT or abolish LTCG tax to boost retail investors

Asianet News Central — Fri, 31 Jul 2026 15:00:26 +0530

ANMI Recommends Tax Relief to Boost Retail Investment

The Association of National Exchanges Members of India (ANMI), a leading body representing stock brokers and trading members across the country's capital markets, has urged the government to either reduce the Securities Transaction Tax (STT) or abolish the Long-Term Capital Gains (LTCG) tax on equities to encourage greater retail participation in the stock market.

Speaking to media on the sidelines of the 31st ANMI Foundation Day celebrations at the National Stock Exchange (NSE) in Mumbai, ANMI National President Kamlesh Shroff said the association has already submitted its recommendations to the Finance Ministry. "We have submitted recommendations earlier to the Ministry. One option is that STT can actually be reduced," Shroff said.

He said another option is to retain the Securities Transaction Tax while providing relief through a rebate under Section 88, similar to the earlier tax regime when capital gains tax was not applicable. "Either you keep the STT at the same place and give the Section 88 rebate, or do away completely with Long-Term Capital Gains (LTCG) tax specifically, so that the investor cult--which is going up North--benefits everyone and people feel encouraged to enter the market," he told ANI.

According to Shroff, easing the tax burden on investors would help attract more retail participation and further strengthen India's growing equity market. ANMI is a nationwide association representing stock brokers and trading members of Indian stock exchanges. The body regularly engages with the Securities and Exchange Board of India (SEBI), stock exchanges and the government on issues related to market regulation, taxation, investor protection and the development of India's capital markets.

Future Outlook and Other Recommendations

FII Inflows and Cybersecurity Compliance

During the interaction, Shroff also expressed confidence that foreign institutional investor (FII) flows would return to India once global markets stabilise and geopolitical uncertainties ease. He also called for a graded approach to cybersecurity compliance for smaller brokers, saying compliance costs should be aligned with the size of brokerage firms.

New Products as Growth Drivers

He also shared that the biggest growth drivers for the exchanges in the country over the next decade will be the new products by the exchanges. He added that NSE has brought in EGRs (Electronic Gold Receipts), and commodity markets are slowly and steadily getting better liquidity. New products that click with next-gen investors--given that the average investor age has already gone down--will work well. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

Maldives-India Favara-UPI payment corridor goes live in milestone move

Asianet News Central — Fri, 31 Jul 2026 15:00:25 +0530

The Favara-UPI cross-border payment corridor went live on Thursday between the Maldives and India following the integration of the Maldives Instant Payment System, 'Favara', with India's Unified Payments Interface (UPI).

According to the Ministry of Finance, the Maldives Monetary Authority (MMA) announced the successful operationalization of the integration on July 30, 2026. The initiative marks a transformative milestone in cross-border digital financial connectivity and bilateral economic cooperation between the two nations.

Service Mechanism and Initial Rollout

Under the new mechanism, individuals in the Maldives can transfer funds using Favara to beneficiaries in India in real time. Transactions are initiated in Maldivian Rufiyaa (MVR) and credited directly to recipients in Indian Rupees (INR) through the UPI network. The service opened with a select group of financial institutions in the island nation. As detailed in the official announcement, "The service has commenced with the participation of two local banks: Bank of Maldives Plc and Maldives Islamic Bank Plc." The document noted that "customers of these banks can initiate person-to-person (P2P) transfers directly to UPI-enabled bank accounts in India using their mobile banking applications and the Favara payment rail."

Permitted Remittance Categories

Permitted remittance categories under the framework include family-maintenance-related remittances under both Foreign Inward and Foreign Outward Remittance regulations. The system also permits gift-related remittances classified under Foreign Outward Remittance rules.

Bilateral Collaboration

Highlighting the inter-agency effort behind the rollout, the statement noted, "The implementation reflects close collaboration between the MMA, the Reserve Bank of India (RBI), NPCI International Payments Limited (NIPL), participating financial institutions, and other stakeholders in both countries."

The bilateral framework builds upon preliminary structural arrangements. The formal agreement for the Favara-UPI integration was executed between NIPL and MMA in July 2025. Operational readiness was achieved following an accelerated 10-day schedule dedicated to testing, certification, onboarding, and live validation.

Future Expansion and Scope

Further extensions of the digital interface remain planned for subsequent stages of implementation. The official statement highlighted that "subsequent phases of the collaboration will introduce additional cross-border payment use cases, including QR-based merchant payments and other innovative digital payment services, further strengthening economic and financial ties between the Maldives and India."

UPI's Global Footprint

The deployment adds to the international presence of India's digital payment ecosystem. Beyond the Maldives, UPI services operate across nine other countries, including Cambodia, Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka, facilitating seamless transactions for Indian travellers abroad. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

REC, PFC sign Rs 26,850 cr loan for 2,400 MW UP power expansion

Asianet News Central — Fri, 31 Jul 2026 14:30:29 +0530

State-owned non-banking financial companies REC Limited and Power Finance Corporation Limited (PFC) signed a Rs 26,850 crore common loan agreement with Meja Urja Nigam Private Limited (MUNPL) to finance a 2,400 MW thermal power expansion in Uttar Pradesh, according to a press release.

Project and Financing Details

MUNPL, an equal joint venture between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), will use the funds to establish three ultra-supercritical units of 800 MW each under Stage-II of the Meja Thermal Power Project in Prayagraj district. The overall estimated completion cost of the expansion project stands at Rs 38,357.81 crore. REC Limited serves as the lead financer for the venture, with the total debt facility funded equally on a 50:50 basis between REC and PFC.

The project incorporates an air-cooled condenser system and advanced thermal technology designed to optimize operational efficiency at the site located in Meja Tehsil.

Key Officials at Signing Ceremony

Representatives from the participating entities executed the documentation at Prayagraj. MUNPL Chief Executive Officer Srinivasa Rao Gaddamanugu, REC Lucknow Regional Office Chief General Manager Shambhu Shankar Gupta, and PFC General Manager Shelly Gupta signed the agreement.

Key officials attending the ceremony included MUNPL Chief Financial Officer Angshu Barua, PFC Executive Director H. K. Das, and REC Executive Director D. B. Londhe.

Regional Benefits of the Expansion

The proposed 3x800 MW expansion project brings wide-ranging benefits to the region. The addition strengthens energy security across Uttar Pradesh, ensuring reliable electricity supply for residential, agricultural, and industrial consumers to support state growth targets.

The advanced technology utilized in the plant reduces coal consumption and emissions compared to older generation units, making power production more efficient and environmentally responsible.

Construction and operational phases will generate employment while upgrading local infrastructure in Prayagraj.

The completed units will supply stable power to support industrial corridors, manufacturing clusters, and expanding urban areas. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

Govt assures adequate fertilizer availability for Kharif 2026 season

Asianet News Central — Fri, 31 Jul 2026 14:00:57 +0530

The availability of urea, diammonium phosphate (DAP), muriate of potash (MOP) and NPKS fertilizers has remained adequate during the ongoing Kharif 2026 season, the government informed Parliament on Friday.

In a written reply to a question in the Lok Sabha, Union Minister for Chemicals and Fertilizers, Jagat Prakash Nadda, said the Centre has taken several measures to ensure timely availability of fertilizers across the country. These include advance assessment of state-wise requirements, allocation of supplies, monitoring through the Integrated Fertilizer Management System (iFMS), advance import planning, coordination with manufacturers and importers, and timely rail movement.

Fertilizer Stocks Sufficient for Kharif 2026

The minister said that "the availability of the fertilizers viz. Urea, DAP, MOP and NPKS, in the country, has remained adequate during the ongoing Kharif 2026 season" from April 1 to July 27, 2026.

Between April 1 and July 27, 2026, urea availability stood at 174.47 lakh metric tonnes (LMT) against a pro-rata requirement of 120.16 LMT. DAP availability was 42.36 LMT against a requirement of 34.67 LMT, while MOP availability stood at 14.21 LMT against 10.97 LMT. NPKS availability was 88.01 LMT compared with a requirement of 52.89 LMT.

As of July 27, closing stocks stood at 65.52 LMT for urea, 16.52 LMT for DAP, 8.51 LMT for MOP and 44.31 LMT for NPKS.

The government also said 21.23 LMT of indigenously produced Single Super Phosphate (SSP), used as a substitute for DAP to supply phosphatic nutrients to the soil, was available in the country.

Measures to Boost Domestic Production

The reply further stated that the government has increased domestic fertilizer production by setting up six new urea plants under the New Investment Policy-2012, while additional projects are under implementation. It also highlighted measures taken under the Nutrient Based Subsidy (NBS) Scheme to promote domestic production of phosphatic and potassic fertilizers. (ANI)

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Govt to expand social security beyond 101 cr people in next 5 years

Asianet News Central — Fri, 31 Jul 2026 14:00:49 +0530

Union Labour and Employment Minister Mansukh Mandaviya on Friday said the Government aims to expand social security coverage beyond the current 101 crore people over the next five years, while continuing reforms in labour laws, pensions, healthcare and digital service delivery.

Addressing the Global Industrial Relations Summit at FICCI, Mandaviya said India has emerged as one of the world's largest providers of social security coverage after adopting internationally accepted methods of reporting beneficiaries.

Expanding Social Security Coverage

"Today, China provides social security coverage to 107 crore people. We provide social security coverage to 101 crore people. And in the next five years, we will provide social security coverage to more people," the minister said.

He said India was recognised at the recent BRICS Labour Ministers' Meeting for providing social security coverage to 68.8 per cent of its population, or about 101 crore people. Mandaviya said social security coverage includes people receiving at least one benefit such as pension, accident insurance or healthcare under globally accepted norms.

Adapting to a Changing Labour Market

Highlighting changes in the labour market, the minister said artificial intelligence (AI), digital technologies and platform-based employment are reshaping jobs and skill requirements, making it necessary to update labour policies and industrial relations.

"The changing employment landscape requires labour policies and industrial relations frameworks to evolve in line with technological advancements," he said.

Fostering Industrial Growth and Collaboration

The minister said employment generation should be linked with economic development and stressed that governments, industries, trade unions and workers must work together instead of viewing each other as adversaries.

"Industries are the creators of employment," Mandaviya said, adding that balanced industrial relations backed by social security and worker welfare are essential for sustainable growth. He also highlighted the importance of self-employment in India's economy, citing the contribution of women associated with Gujarat's dairy cooperative movement to rural incomes.

Labour Law Reforms

On labour reforms, Mandaviya said the new Labour Codes were drafted after consultations with all stakeholders to reflect changing workplace realities, including greater use of technology and increasing participation of women across sectors.

He said the reforms seek to protect workers' rights while supporting economic growth.

Digital and Service Delivery Reforms

The minister also announced a series of technology-driven reforms in the Employees' Provident Fund Organisation (EPFO) and the Employees' State Insurance Corporation (ESIC).

"Pensioners will be able to complete authentication from home, with assistance from postal workers where required," he said.

He added that the government is working to enable Employees' Provident Fund (EPF) withdrawals through automated teller machines (ATMs), while quality private hospitals could be empanelled under ESIC to improve healthcare access for insured workers.

Mandaviya said the government's objective is to build a labour ecosystem that combines faster economic growth with wider social security coverage, stronger industrial relations, technological adaptation and easier access to public services through digital reforms.

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Anthropic AI 'Claude' Breaches 3 Firms During Cybersecurity Test

Asianet News Central — Fri, 31 Jul 2026 14:00:29 +0530

Frontier artificial intelligence (AI) company Anthropic said it has identified three incidents in which its Claude models accessed the internet during third-party cybersecurity evaluations and subsequently gained unauthorized access to the production systems of three different organizations.

Background of the Investigation

The company said the review was launched after OpenAI disclosed on July 21 that some of its models had accessed production infrastructure. Anthropic said the incidents involved Opus 4.7, Mythos 5 and an internal research test model, with the earliest cases dating back to April. The models were tested without standard safeguards such as classifiers and monitoring, although model-specific safety training remained active. The evaluations were conducted on infrastructure separate from Anthropic's internal systems and customer data.

Three Breaches Found in 141,006 Tests

According to the company, it reviewed 141,006 evaluation runs in which Claude could potentially access the internet. It found three cases where the model reached the open internet while interacting with the testing environment of third-party evaluation partner Irregular and later accessed the production infrastructure of three separate organizations.

How the AI Gained Unauthorized Access

The company said Claude had been assigned capture-the-flag cybersecurity challenges and was prompted that it was operating in a simulated environment without internet access. However, internet access remained available due to a misunderstanding with the evaluation partner, causing the model to treat live systems as part of the exercise.

"Operating under the false belief that all accessible entities were intended to be in-scope for the exercise, Claude compromised the impacted organizations' infrastructure using basic techniques, such as exploiting weak passwords and unauthenticated endpoints," the report stated.

"It did not find or exploit any complex vulnerabilities, and in each case, Claude continued working to complete only the specific capture-the-flag task its evaluation had assigned," the report added.

Varying Reactions from Different AI Models

Anthropic said the incidents also highlighted differences in the behaviour of older and newer Claude models.

"However, in some cases, our older model continued its attack even after getting evidence it was running on the open internet; our latest model stopped once it recognized it was on the internet," the report noted.

"In none of these situations did Claude exfiltrate itself or deliberately attempt to escape its test environment," the report stated.

Anthropic's Response and Findings

The company said it began reviewing evaluation transcripts on July 23 and immediately suspended all cybersecurity evaluations. It identified the three incidents on July 24 and informed Irregular and the affected organizations on July 27.

Anthropic said the two organizations it was able to reach had not previously detected the activity, and remediation efforts are underway.

Anthropic described the incidents as operational failures rather than failures in model alignment.

"While there is not a perfectly sharp distinction between the two, we believe these incidents to be closer to a harness and operational failure than a model alignment failure," the report stated.

"These facts give us cautious optimism that with tighter monitoring and controls around evaluation infrastructure, as well as continued investment in alignment, this type of risk can be overcome," the report concluded. (ANI)

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First air shipment of Karnataka mangoes to Maldives a milestone: Goyal

Asianet News Central — Fri, 31 Jul 2026 14:00:22 +0530

The first-ever air shipment of Neelam and Totapuri mangoes from Karnataka to the Maldives has opened new opportunities for the state's mango growers, Union Commerce and Industry Minister Piyush Goyal said, highlighting the milestone as a step towards expanding the presence of Indian horticultural produce in international markets.

In a post on X, Goyal congratulated the Agricultural and Processed Food Products Export Development Authority (APEDA) for facilitating the shipment. "This milestone unlocks new opportunities for Karnataka's mango growers, encouraging greater participation from Farmer Producer Organizations (FPOs), exporters & agri-entrepreneurs, enhancing their presence in the international markets," Goyal said.

Shipment Details and Objectives

According a release by the Commerce Ministry, APEDA facilitated the first-ever air shipment of one metric tonne of Neelam and Totapuri mangoes to the Maldives, with the consignment flagged off on Thursday. The export is aimed at promoting Karnataka's late-season mango varieties in overseas markets and strengthening India's mango export basket.

Empowering Farmers and Women Entrepreneurs

The consignment was sourced directly from farmers associated with M/s Prakruthimaya Farmers Producer Company Ltd. in Kolar district, Karnataka, and exported by M/s Ahalya Devi Ventures, a newly registered woman entrepreneur and exporter. The ministry said the initiative also reflects the growing participation of women entrepreneurs in India's agri-export ecosystem.

Extending India's Mango Export Season

The release said Neelam and Totapuri are late-season mango varieties harvested from late June to the end of July, providing an opportunity to extend India's mango export season and cater to international demand beyond the peak harvest period. It added that the shipment demonstrates the growing role of Farmer Producer Companies in connecting farmers with global markets through organised aggregation and export-oriented supply chains.

Economic Impact and Future Outlook

According to the ministry, farmers associated with the Farmer Producer Company realised over 50 per cent higher returns through the export initiative compared with conventional market channels.

The government said the export is expected to encourage greater participation of Farmer Producer Organizations, Farmer Producer Companies, exporters and agri-entrepreneurs in international markets, while APEDA will continue working with state governments and other stakeholders to strengthen export infrastructure and expand global market access for Indian agricultural produce. (ANI)

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Food safety: 40,000 samples fail tests, 1,918 convictions in 2025-26

Asianet News Central — Fri, 31 Jul 2026 13:30:59 +0530

More than 40,000 food samples, including beverages and caffeinated drinks, were found to be non-conforming during 2025-26, while 1,918 convictions were recorded in cases related to food safety violations, the government informed Parliament on Friday.

Replying to a question in the Lok Sabha, Minister of State for Health and Family Welfare Prataprao Jadhav informed that 223,808 food samples were analysed during 2025-26. Of these, 40,023 samples were found to be non-conforming.

Enforcement and Legal Action

The government said that 31,878 civil cases were decided with penalties, while 1,918 criminal convictions were recorded. It added that the figures are provisional and may change after further laboratory testing and court proceedings. The data covers enforcement action taken by State and Union Territory food safety authorities against non-conforming food products, including beverages and caffeinated beverages.

FSSAI's Role and Initiatives

The government said the Food Safety and Standards Authority of India (FSSAI) is responsible for laying down science-based food standards, while implementation and enforcement of the Food Safety and Standards Act, 2006 is a shared responsibility of the Centre and the states. The minister stated "FSSAI has taken many measures to curb adulteration in the food products such as awareness campaigns like "#No To Adulteration", "How to Check for Adulteration" and also provided funds for Mobile Food Testing Laboratory (MFTL) or "Food Safety on wheels" (FSW), Food Safety Magic Boxes. The FSSAI has approved Rapid Analytical Food Testing (RAPID) Kits and published Detect Adulteration with Rapid Test (DART) Booklet to detect adulteration".

Action on Labelling Violations

The government also informed Parliament that 15 notices have been issued to food business operators during FY 2026-27 for violations of the Food Safety and Standards (Labelling and Display) Regulations, 2020. Minister said, "Further, 15 notices have been issued to FBOs during FY 2026-27 for violations of the Food Safety and Standards (Labelling and Display) Regulations, 2020". (ANI)

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US-Canada energy trade value dips 11% to $137 billion in 2025: EIA

Asianet News Central — Fri, 31 Jul 2026 13:00:43 +0530

The value of energy trade between the United States and Canada declined 11 per cent in 2025 to an estimated USD 137 billion, primarily due to lower crude oil prices and reduced trade volumes, according to the latest analysis report by the US Energy Information Administration (EIA). The report said energy imports from Canada continued to dominate bilateral energy trade. Of the total trade value, U.S. energy imports from Canada stood at USD 111 billion, while U.S. energy exports to Canada totalled USD 26 billion in 2025.

Crude Oil Trade Impacted by Lower Prices

It stated, "Crude oil accounts for the largest component of U.S.-Canada energy trade, making up 69 per cent of the total value traded in 2025." The decline came as Brent crude oil prices averaged USD 69 per barrel in 2025, down USD 11 per barrel from 2024. Combined with lower trade volumes, this reduced the value of crude oil trade between the two countries to USD 94.7 billion, representing a 16 per cent decline from the previous year.

Despite the imposition of a 10 per cent tariff on Canada's energy exports to the United States from March 6, 2025, the report said the United States remained Canada's largest export destination for crude oil due to the extensive pipeline infrastructure connecting the two countries. It added that some crude oil shipments qualified for exemptions under the United States-Mexico-Canada Agreement (USMCA), while subsequent tariff measures announced by the White House exempted energy trade.

Import and Export Volumes Shift

The report noted that Canada continued to be the primary source of U.S. crude oil imports in 2025. U.S. crude oil imports from Canada averaged 3.9 million barrels per day, down 4 per cent from 2024. The decline was partly attributed to increased use of Canada's Trans Mountain Expansion (TMX) pipeline, which enables Canadian crude to reach the Pacific Coast for exports to foreign markets, including Asia.

In comparison, U.S. crude oil exports to Canada remained relatively small, averaging 383,000 barrels per day in 2025, a 2 per cent decline from the previous year. These exports mainly comprised low-density and low-sulfur crude grades transported by pipeline to eastern Canada.

Trade in Petroleum Products Shows Mixed Results

The report highlighted that the trade in petroleum products presented a mixed picture. While bilateral petroleum product trade volumes increased by about 2 per cent in 2025, the overall value of trade declined by around 4 per cent because of lower fuel prices.

EIA also noted that the United States imported 583,000 barrels per day of petroleum products from Canada in 2025, a 2 per cent decline in volume. Lower prices and reduced imports brought the value of petroleum product imports down to USD 16 billion, 15 per cent lower than in 2024.

Meanwhile, U.S. petroleum product exports to Canada averaged 504,000 barrels per day, up 6 per cent from the previous year. However, the value of these exports declined 12 per cent to USD 13.4 billion, reflecting the impact of lower fuel prices. (ANI)

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ITR 2026 Deadline Today: Step-by-Step Guide to File Your Income Tax Return Online

Gargi Chaudhry — Fri, 31 Jul 2026 12:49:42 +0530

The July 31 Income Tax Return (ITR) deadline is here. In addition to fulfilling a legal obligation, filing your taxes makes it easier to achieve future financial objectives including credit card, loan, and visa approvals. Early cross-checking of your financial data is highly recommended by financial gurus. The only method to guarantee a precise, error-free submission while totally avoiding late filing fines is to take this proactive action.

This is a step-by-step instruction to assist you use the official Income Tax e-filing facility to file your ITR online.

Step 1: Open the Portal and Log In

Go to https://www.incometax.gov.in and enter your password and PAN (as user ID) to log in.

Step 2: Go to the Section for Filing ITRs.

Select "e-File" > "Income Tax Returns" > “File Income Tax Return.” Click 'Continue' after choosing 'AY 2026-27' to file FY 2025-26 returns and using the online option.

Step 3: Select the appropriate ITR form.

ITR-1: Salaried people with modest sources of income

ITR-2: People who own numerous homes, overseas assets, or capital gains

ITR-3: People who earn money from their jobs or businesses

ITR-4: Presumptive taxes chosen by taxpayers

Step 4: State Reason for Filing

Select the applicable reason:

Taxable income exceeds the basic exemption limit. Filing is mandatory due to specific criteria. Other applicable reasons.

Step 5: Review and Confirm Information

Your personal and financial details will mostly be pre-filled. Check:

PAN, Aadhaar, and bank details Salary and income details (auto-fetched from Form 16 and Form 26AS). Deductions under Sections 80C, 80D, etc. Validate all entries before proceeding.

Step 6: Pay Tax Dues and Submit

If there's any outstanding tax liability, pay it. Review the summary, confirm, and submit the return.

Step 7: E-Verify Your Return

You must e-verify the return within 30 days to complete the filing. Choose from:

Aadhaar OTP

Net banking

Electronic Verification Code (EVC)

Or send a signed ITR-V to CPC, Bengaluru

India-UK CETA to boost Kerala's exports in key sectors: UK official

Asianet News Central — Fri, 31 Jul 2026 12:31:50 +0530

Keralam is expected to benefit across multiple export-oriented sectors under the India-UK Comprehensive Economic and Trade Agreement (CETA), with tariff reductions set to make trade between the state and the United Kingdom faster, easier and more cost-effective, British Deputy High Commissioner to Tamil Nadu, Keralam and Puducherry, Sutapa Choudhury said.

Speaking to ANI during her visit to Thiruvananthapuram, Choudhury said the agreement, which came into force on July 15, is expected to significantly boost bilateral trade between India and the UK over the long term. "We're really excited about the increase in bilateral trade between the two countries, projected to grow by £25.5 billion in the long run. Your state of Kerala stands to gain in a multitude of sectors, from marine products to textiles, yoga and wellbeing, all of the key strengths of Kerala where we're going to see tariff lines eliminated fully or reduced," she said.

She added that the agreement would create "a much easier, faster and cheaper way of doing trade between Keralam and the UK."

State's Infrastructure Well-Placed to Leverage Deal

Highlighting the state's export infrastructure, Choudhury said Keralam is well placed to take advantage of the trade agreement. "Kerala has got a really strong infrastructure to support a trade deal like this. Last night I went to visit the Vizhinjam Port myself and I saw what great potential there is both for the State but also for India and South Asia more widely," she said.

She added that exporters from sectors in which Keralam has established strengths are expected to benefit from the agreement.

The India-UK Comprehensive Economic and Trade Agreement, brought into force on July 15, aims to strengthen bilateral trade and investment by improving market access and reducing tariffs across multiple sectors. The agreement is expected to support trade, investment and business opportunities between the two countries.

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

NSE chief lauds ANMI's role in India's capital market development

Asianet News Central — Fri, 31 Jul 2026 12:31:29 +0530

NSE Chief Praises ANMI's Three-Decade Contribution

The Association of NSE Members of India (ANMI) has played a key role in supporting the evolution of India's capital markets by acting as a bridge between trading members and the exchange through major market reforms, National Stock Exchange (NSE) Managing Director and Chief Executive Officer Ashishkumar Chauhan said on Thursday.

Addressing the 31st Foundation Day celebrations of ANMI, Chauhan said the association has contributed to the development of India's market ecosystem by helping members adapt to regulatory and technological changes over the past three decades.

"Thirty-one years is not merely a milestone. It is a testament to institutional continuity in a sector that has changed beyond recognition," Chauhan said.

Recalling the early years of the National Stock Exchange, he said ANMI worked closely with the exchange when India transitioned to screen-based trading, helping brokers adapt to technology-driven market systems and new market infrastructure.

According to Chauhan, the association has since evolved into a consistent platform for engagement between trading members and the exchange on issues including margin frameworks, risk management systems and trading policies.

He said ANMI also played an important role in facilitating communication and supporting market participants during key reforms, including the pledge-repledge mechanism and the transition from the T+2 to the T+1 settlement cycle.

"ANMI has represented member perspective in a structured manner, helping align policy intent with operational realities," he said.

Future of Market Development

Addressing the gathering, ANMI National President Kamlesh Shroff said India's capital markets have undergone significant transformation over the past three decades, ranging from physical share certificates to dematerialised holdings, technology-driven trading, shorter settlement cycles and digital payment systems. He said the association remains committed to working with regulators and other stakeholders as technologies such as artificial intelligence, digital public infrastructure, tokenisation and cybersecurity shape the next phase of market development.

SEBI's Perspective on Market Growth

Addressing the event, SEBI Executive Director G. Ram Mohan Rao said India's securities market has crossed 13 crore unique investors, but noted that there remains significant scope to deepen investor participation. He said brokers will continue to play an important role in investor education, trust and market integrity as financial markets become increasingly technology-driven.

Looking ahead, Rao said India's capital markets will play a larger role in financing entrepreneurship, infrastructure, innovation and economic growth, adding that industry associations such as ANMI will continue to contribute towards building markets that are efficient, resilient, transparent and trusted. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

India seeks closer cooperation among global drug regulators: Goyal

Asianet News Central — Fri, 31 Jul 2026 12:30:30 +0530

India's Push for Global Regulatory Cooperation

India is seeking closer cooperation among drug regulators across the world, supported by its expanding network of trade agreements, to improve access to affordable medicines while strengthening the country's position as a global hub for pharmaceutical innovation, Union Commerce and Industry Minister Piyush Goyal said.

In a post on X on Friday, Goyal said the two-day Global Drug Regulatory Conclave 2026, which commenced at Bharat Mandapam on Thursday, has brought together heads and senior officials of national drug regulatory authorities from across the world.

"India seeks closer cooperation among the world's medicine regulators, supported by our expanding network of trade agreements. This will enable faster access to high-quality, affordable medicines for patients worldwide while strengthening India's position as a global hub for pharmaceutical innovation," Goyal said.

Describing the event as India's flagship international forum on pharmaceutical regulatory cooperation and convergence, the minister said he was confident that the conclave would help deepen collaboration between India's pharmaceutical industry, global regulators and other stakeholders.

"Wishing the conclave great success in fostering deeper collaboration among the Indian pharmaceutical industry, global regulators, and stakeholders, paving the way for a more resilient, innovative, and patient-centric global healthcare ecosystem," he added.

Building a Future-Ready Regulatory Ecosystem

According to the Ministry of Health, Union Health Minister Jagat Prakash Nadda, while addressing the inaugural session of the conclave, said trusted, science-based and transparent regulatory systems are essential for safeguarding public health, promoting innovation and ensuring timely access to safe, effective, high-quality and affordable medicines.

He also reaffirmed India's commitment to building a future-ready regulatory ecosystem through reforms, digital transformation and stronger quality standards.

Union Health Secretary Punya Salila Srivastava said regulatory systems must evolve through greater international cooperation, transparency, scientific excellence and mutual trust. She said India remains committed to strengthening its regulatory ecosystem through reforms, digital transformation, capacity building and internationally aligned standards, while calling for deeper global collaboration to ensure timely access to quality medicines and medical products. (ANI)

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China emerging as strongest long-term contender in AI race: Report

Asianet News Central — Fri, 31 Jul 2026 11:31:01 +0530

China is emerging as the strongest long-term contender in the artificial intelligence (AI) race despite ongoing volatility in global semiconductor stocks, according to a report by Jefferies.

The report said recent sharp declines in semiconductor stocks have brought many of them close to their 200-day moving averages, raising questions over whether the correction is merely a technical unwinding of leveraged positions or an early signal of slowing capital expenditure by global hyperscalers.

China's Consumer Market Advantage

Despite the market volatility, Jefferies maintained that China remains well positioned in the AI race, particularly in consumer-facing applications. "The Chinese are best positioned to prevail in AI, most particularly in the mass consumer market," the report said.

AI Investment Amid Market Volatility

Jefferies noted that while concerns have increased over massive AI-related spending, the latest quarterly earnings have not yet indicated any broad-based slowdown in AI investment. As a result, analysts have not reduced their earnings forecasts for memory-chip companies. However, it added that markets have started reacting negatively to rising capital expenditure, calling it an important warning sign.

Mixed Reactions to Tech Giants' Capex

The report highlighted differing investor reactions to recent earnings announcements by major technology companies. Alphabet came under pressure after reporting negative free cash flow in the second quarter of 2026 for the first time since its initial public offering in 2004. Similarly, Meta's shares declined 10 per cent in after-hours trading after its free cash flow plunged 91 per cent, falling from USD 8.5 billion in the second quarter of 2025 to USD 784 million in the second quarter of 2026. At the same time, the company raised its 2026 capital expenditure guidance to USD 130-145 billion, compared with its earlier guidance of USD 125-145 billion.

In contrast, Microsoft gained 8 per cent in after-hours trading after maintaining its capital expenditure guidance for calendar year 2026 at approximately USD 175 billion. The report noted that this figure was revised from the earlier guidance of USD 190 billion due to accounting changes related to the useful life of assets and the shift of finance leases to operating leases, which are not included in capital expenditure.

Future Outlook for AI Investment

The report further argued that while hyperscalers are investing aggressively in AI infrastructure, demand for computing power is expected to continue expanding in the AI era, although the customer base driving that demand may evolve over time. It added that AI could ultimately resemble the airline industry rather than the winner-takes-all model that characterised the internet era, suggesting that heavy capital expenditure may not necessarily translate into outsized returns for all participants. It stated, "the demand for compute will keep growing in the AI era though the customers may change". (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Indian markets open higher on FII buying, easing crude oil prices

Asianet News Central — Fri, 31 Jul 2026 10:01:03 +0530

Indian benchmark equity indices opened higher on Friday, supported by sustained foreign institutional investor (FII) buying and easing crude oil prices, even as global markets continued to witness heightened volatility and IT stocks came under pressure. The NSE Nifty 50 opened at 24,361.45, up 44.30 points or 0.18 per cent, while the BSE Sensex gained 70.51 points or 0.09 per cent to 77,998.66.

FII Buying Boosts Market Confidence

Foreign institutional investors have remained net buyers over the past three trading sessions, purchasing equities worth a cumulative Rs 7,360 crore, lending support to domestic markets.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said sharp swings in global markets, particularly in the US and South Korea, have increased the appeal of relatively stable markets such as India. "India is a stable market and the down risks are limited now, particularly in largecaps where the valuations are fair and growth prospects good. During the last three days FIIs have cumulatively bought equity for Rs 7,360 crores. This FII buying, though not a distinct trend so far, has the potential to impart resilience to the market. Q1 results released, so far, indicate revival of earnings growth momentum," he said.

Sectoral Performance

Among sectoral indices on the NSE, Nifty IT was the only index in the red, falling 2.26 per cent. The broader market remained positive, with Nifty Auto rising 0.96 per cent, Nifty Metal gaining 0.60 per cent, Nifty Pharma advancing 0.59 per cent, Nifty PSU Bank climbing 0.38 per cent, Nifty Media adding 0.27 per cent, and Nifty FMCG edging up 0.23 per cent.

Market Cues and Corporate Earnings

Brent crude prices declined 1.37 per cent to around USD 85 per barrel at the time of filing this report, while the Indian rupee traded at Rs 95.68 per US dollar. Major companies scheduled to announce their Q1 results later in the day include ITC, Maruti Suzuki India, Bajaj Finserv, Indian Oil Corporation (IOC), GAIL (India), and Dixon Technologies, with their earnings expected to influence stock-specific action as well as broader market sentiment.

Global Market Snapshot

Other Asian markets traded mixed in the early session, with Japan's Nikkei 225 surging more than 4 per cent to 64,460, South Korea's KOSPI jumping over 14 per cent to 6,400, and Taiwan's weighted index rising more than 7 per cent to 42,785. In contrast, Hong Kong's Hang Seng slipped 0.18 per cent to 25,813, while Singapore's Straits Times declined 0.79 per cent to 5,628.

Overnight, US markets ended higher, with the S&P 500 gaining 1.66 per cent to close at 7,437, while the Nasdaq advanced 2.79 per cent to finish at 25,124. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Gold, Silver Rate Today, July 31: 24K Gold Near Rs 1.45 Lakh, Silver Above Rs 2.19 Lakh; Check City-Wise Prices

Deevika NM — Fri, 31 Jul 2026 08:40:11 +0530

Gold and silver prices in India remained elevated on Friday, July 31, as investors continued to favour precious metals amid global economic uncertainty and geopolitical tensions. According to the latest bullion data, the average price of 24-carat gold stood at Rs 1,44,950 per 10 grams, while 22-carat gold was priced at Rs 1,32,871 per 10 grams. Silver (999 fine) was trading above Rs 2.19 lakh per kilogram in major Indian cities, reflecting sustained demand for the white metal alongside gold.

Gold & Silver Rates Today (July 31)

City	24K Gold (Rs /10g)	22K Gold (Rs /10g)	Silver (Rs /kg)
Delhi	Rs 1,44,440	Rs 1,32,403	Rs 2,19,740
Mumbai	Rs 1,44,690	Rs 1,32,633	Rs 2,19,270
Kolkata	Rs 1,44,500	Rs 1,32,458	Rs 2,19,830
Chennai	Rs 1,45,110	Rs 1,33,311	Rs 2,20,760
Bengaluru	Rs 1,44,800	Rs 1,32,733	Rs 2,20,290
Hyderabad	Rs 1,44,920	Rs 1,32,843	Rs2,20,470

Note: Gold and silver prices are indicative and may vary slightly across jewellers due to local taxes, GST, making charges and other regional factors. Consumers should check live bullion rates before making a purchase.

The precious metals market has witnessed strong buying interest in recent months, supported by safe-haven demand, expectations around global interest rates and geopolitical developments. While domestic bullion prices vary slightly from city to city because of transportation costs, local taxes and jewellers' margins, the overall trend remained firm on July 31.

For jewellery buyers, 22-carat gold continues to be the preferred choice due to its durability, whereas 24-carat gold, known for its 99.9% purity, remains the benchmark for investment in bars and coins. Silver, meanwhile, continues to attract both industrial users and investors, with demand supported by its growing use in electronics, solar energy and other manufacturing sectors.

Market experts advise buyers to compare prices across jewellers, verify BIS hallmark certification for gold jewellery and check the purity of silver before making purchases. Final retail prices may differ from bullion rates after adding Goods and Services Tax (GST), making charges and other local levies.

Despite minor day-to-day fluctuations, both gold and silver have delivered strong returns over the past year, reinforcing their appeal as hedges against inflation and financial market volatility. Analysts believe bullion prices will continue to react to movements in the US dollar, central bank policy decisions and global geopolitical developments.

Consumers planning purchases for weddings, festivals or investment purposes are advised to check live rates before buying, as bullion prices can change during market hours. With both gold and silver hovering near historic highs, investors are closely watching domestic and international market trends for further price direction.

Mastercard Q2 net income soars 19% to $4.4 billion, revenue up 14%

Asianet News Central — Fri, 31 Jul 2026 08:30:40 +0530

Mastercard Posts Strong Q2 2026 Financials

Mastercard reported a 19 per cent year-on-year (YoY) rise in net income to USD 4.4 billion for the second quarter (April to June) of 2026, while net revenue increased 14 per cent to USD 9.3 billion, driven by growth in its payment network and value-added services.

The company reported diluted earnings per share (EPS) of USD 4.97, up from USD 4.07 in the corresponding quarter last year. Adjusted net income stood at USD 4.5 billion, while adjusted diluted EPS was USD 5.04.

Mastercard's net revenue rose to USD 9.3 billion from USD 8.1 billion in the year-ago period, registering a 14 per cent increase, or 12 per cent on a currency-neutral basis. The company also shared that the operating expenses increased 10 per cent to USD 3.7 billion, while operating income rose 17 per cent to USD 5.6 billion. The company's operating margin improved to 60.2 per cent from 58.7 per cent a year earlier. Its effective income tax rate stood at 20.0 per cent, compared with 20.8 per cent in the same quarter last year.

Commenting on the results, Michael Miebach, Chief Executive Officer of Mastercard, said, "We delivered above expectations with net revenue growth at 14 per cent year-over-year, or 12 per cent on a currency-neutral basis in the second quarter. These results reflect our role in powering more ways to shop, pay and do business." He added that new partnerships in Mexico and the UAE, along with the company's Agentic Payment capability, are helping Mastercard create new opportunities and shape the future of commerce.

Revenue Growth Drivers

The company said growth in net revenue was driven by its payment network as well as value-added services and solutions.

Payment network net revenue increased 10 per cent, or 8 per cent on a currency-neutral basis. The growth was supported by an 8 per cent rise in gross dollar volume on a local currency basis to USD 2.9 trillion, 12 per cent growth in cross-border volume, and 9 per cent growth in switched transactions. Mastercard also said payment network rebates and incentives provided to customers increased 22 per cent, or 20 per cent on a currency-neutral basis, mainly due to growth in key business drivers and new as well as renewed customer deals.

Revenue from value-added services and solutions increased 20 per cent, or 18 per cent on a currency-neutral basis. According to the company, the growth was driven primarily by security solutions, consumer acquisition and engagement services, digital and authentication solutions, and business and market insights and pricing.

Card Issuance Update

It also highlighted that as of June 30, 2026, the company's customers had issued 3.7 billion Mastercard and Maestro-branded cards. (ANI)

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Arm's Q1 revenue surges 22% to a record $1.289B on strong AI demand

Asianet News Central — Fri, 31 Jul 2026 08:30:30 +0530

Record Q1 Revenue Driven by AI Demand

Arm, the global technology company that designs CPU architecture and licenses its technology to chipmakers, reported a record first quarter for FY27, with revenue rising 22 per cent year-on-year to USD 1.289 billion, supported by strong demand for its compute platform as artificial intelligence (AI) expands across cloud infrastructure, edge devices and physical AI systems.

The company said both licensing and royalty businesses delivered record first-quarter revenue. Royalty revenue increased 22 per cent year-on-year to USD 715 million, while licensing and other revenue rose 23 per cent to USD 574 million.

Growth Drivers and CEO's Commentary

According to Arm, the growth was driven by the continued adoption of its technology, including higher royalty rates from products based on Armv9 architecture and Arm CSS, as well as increased deployment of Arm-based chips in data centres. The company said the transition of AI infrastructure to Arm continued to accelerate during the quarter, with data centre royalty revenue more than doubling year-on-year. It added that demand for the Arm AGI CPU continued to exceed its initial expectations.

Commenting on the results, Rene Haas, Chief Executive Officer of Arm, said, "Arm delivered a record first quarter, with data center royalties more than doubling year over year as the transition of AI infrastructure to Arm continued to accelerate. Demand for the Arm AGI CPU has continued to exceed our initial expectations, and our continued work to expand manufacturing capacity with our partners gives us increasing confidence that we can deliver at the scale our customers require."

AI Expansion into Edge and Physical Systems

Arm said AI is also expanding beyond cloud infrastructure into edge devices such as personal computers and smartphones, as well as physical AI systems including vehicles and intelligent robotics, increasing demand for the Arm compute platform across a broad range of devices.

Detailed Financial Performance

Key Financial Metrics

The company reported annualised contract value (ACV) of USD 1.732 billion, up 13 per cent year-on-year, reflecting continued demand for its intellectual property. GAAP gross profit stood at USD 1.253 billion, while non-GAAP gross profit was USD 1.264 billion. GAAP operating expenses were USD 1.162 billion, while non-GAAP operating expenses increased 18 per cent year-on-year to USD 733 million.

GAAP (Generally Accepted Accounting Principles) results are prepared using standard accounting rules and include all expenses, such as stock-based compensation and other accounting charges. Non-GAAP results exclude certain items that companies consider non-recurring or not directly related to their core business operations. As a result, non-GAAP figures are often used to provide a clearer picture of a company's underlying operating performance, while GAAP results remain the official measure of financial performance.

Investment in Research and Development

Research and development spending remained a key focus during the quarter. GAAP research and development expenses stood at USD 838 million, while non-GAAP research and development expenses increased 20 per cent year-on-year to USD 530 million, primarily due to investment in engineering headcount and related expenses.

Net Income and Earnings Per Share

GAAP net income rose to USD 270 million, with GAAP fully diluted earnings per share of USD 0.25, compared with USD 0.12 in the same period last year. Non-GAAP net income stood at USD 480 million, while non-GAAP fully diluted earnings per share increased to USD 0.45 from USD 0.35 a year ago.

Cash Flow and Liquidity

The company generated USD 902 million in operating cash flow, while non-GAAP free cash flow stood at USD 665 million, benefiting from favourable timing of receivables collections and tax payments.

Cash, cash equivalents and short-term investments totalled USD 3.888 billion at the end of the quarter.

(ANI)

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NSE Q1FY27 results: Profit up 7% to Rs 3,120 crore, income rises 9%

Asianet News Central — Fri, 31 Jul 2026 08:00:29 +0530

National Stock Exchange of India Limited (NSE) reported a 9 per cent year-on-year (YoY) rise in consolidated total income to Rs 5,252 crore for the first quarter of FY27, while its consolidated profit after tax (PAT) increased 7 per cent YoY to Rs 3,120 crore.

The exchange, in an official statement, reported that consolidated total income of Rs 5,252 crore for Q1FY27, compared with Rs 4,798 crore in the corresponding quarter of the previous financial year. It stated, "Consolidated Total Income in Q1FY27 increased by 9 per cent YoY to Rs 5,252 crore. Consolidated Profit After Tax in Q1FY27 increased by 7 per cent YoY to Rs 3,120 crore".

Revenue Breakdown

The exchange also shared that the consolidated revenue from transaction charges stood at Rs 3,623 crore during the quarter, up from Rs 3,154 crore in Q1FY26. Revenue from data connectivity charges was Rs 258 crore, while operating investment income stood at Rs 234 crore. Revenue from data feed and terminal services came in at Rs 150 crore during the quarter.

Expenditure and Profitability

On a consolidated basis, total expenditure increased to Rs 1,129 crore in Q1FY27 from Rs 1,053 crore in the year-ago period.

NSE reported a consolidated operating EBITDA of Rs 3,594 crore for Q1FY27. The operating EBITDA margin improved to 79 per cent, up 119 basis points year-on-year.

Consolidated profit after tax rose to Rs 3,120 crore in Q1FY27 from Rs 2,924 crore in Q1FY26, registering a 7 per cent year-on-year increase.

Earnings Per Share

The exchange's earnings per share (EPS), on a non-annualised basis, stood at Rs 12.61 for Q1FY27, compared with Rs 11.81 in the corresponding quarter of the previous financial year.

Contribution to Exchequer

NSE said its contribution to the exchequer, including collections and payments, stood at Rs 20,579 crore during the first quarter of FY27. The contribution included Securities Transaction Tax/Commodities Transaction Tax (STT/CTT) of Rs 18,313 crore, stamp duty of Rs 980 crore, GST of Rs 657 crore, income tax of Rs 373 crore, and SEBI fees of Rs 256 crore.

Of the total Rs 18,313 crore collected as STT/CTT, the equity derivatives segment accounted for 57 per cent, while the cash market (delivery-based) segment contributed 37 per cent and the cash market (intraday) segment accounted for 6 per cent.

NSE said the financial performance during the quarter was supported by growth in transaction charge revenue, while the exchange also maintained a strong operating profitability with an EBITDA margin of 79 per cent.

The exchange's contribution to the exchequer during the quarter remained significant at Rs 20,579 crore, comprising taxes, duties and regulatory fees. (ANI)

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RBI to maintain status quo on rates, domestic resilience key: Economists

Asianet News Central — Thu, 30 Jul 2026 22:01:30 +0530

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is widely expected to maintain status quo on key policy rates in its upcoming meeting on August 5, while keeping a watchful eye on global central banks move and sticky inflation, according to leading economists speaking exclusively to ANI News on Thursday.

Expert Outlook: Status Quo Likely

Assessing the impact of the US Federal Reserve's hawkish pause and Bank of Japan's policy stance, Ragini Sinha, Chief Economist at CareEdge, emphasized that domestic resilience outweighs foreign capital risks. "Given the very fluid macroeconomic environment, we expect RBI to maintain status quo in the upcoming meeting," Sinha stated, noting that rate cuts are off the table as domestic indicators remain healthy. She added that robust debt inflows and USD 70+ billion in projected capital flows will cushion the rupee: "RBI is going to focus on inflation control and not use the monetary policy tool for currency management... there is going to be abundant capital flows to take care of the currency."

Inflation and Supply-Side Risks

Echoing the pause expectation, Dipti Deshpande, Principal Economist at Crisil, pointed out that central banks globally are exercising extreme caution due to recurring West Asia conflicts and supply-side pressures. "Given a rising inflation situation in India, even if it is from the supply side, we don't expect the RBI to cut any rates," Deshpande said. She highlighted emerging price risks from input cost pass-throughs and monsoons, adding: "In the forthcoming policy, they will remain vigilant, they will wait to assess the impact, and they will underline the risks to inflation." On exports, she warned that weaker global demand and protectionism pose short-term headwinds.

Market Impact and Global Concerns

Analyzing market liquidity and interest rate dynamics, Shrikant Chouhan, Head of Equity Research at Kotak Securities, observed that the Fed's pause is largely priced into Indian equities. "On an immediate basis, at least, they are not going to consider increasing interest rates... but in the month of September, definitely, they will start focusing on it very closely," Chouhan explained, autioning that crude sustaining above USD 85 per barrel remains a global concern. On the domestic rate outlook, he concluded: "Broadly, we are of the view that we are not expecting any immediate interest rate hike in the near future... USD 105 is the level where we need to be very, very careful in this market."

The experts collectively expect the central bank to rely on active liquidity management and targeted policy communication until inflation risks subside later in the fiscal year. (ANI)

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India-EU FTA's CBAM annexure to ease compliance for exporters: Govt

Asianet News Central — Thu, 30 Jul 2026 22:01:10 +0530

The India-European Union (EU) Free Trade Agreement (FTA) includes a dedicated annexure on the EU's Carbon Border Adjustment Mechanism (CBAM), with provisions to ease compliance for exporters, recognise India's future carbon pricing framework and address concerns of small and medium enterprises (SMEs), Additional Secretary in the Commerce Ministry Darpan Jain said on Thursday.

India-EU FTA's Approach to CBAM

Speaking at an event organised by the Indo-German Chamber of Commerce (IGCC), Jain said, "CBAM was one of the topics which took up a lot of our negotiating capital. And I must say, we explored many options on that. If you see the text of the agreement, which is already there in the public domain, there is a separate annexure on dealing with Carbon Border Adjustment Mechanism."

Provisions for Easing Compliance

Explaining the provisions of the annexure, he said it is built around multiple pillars aimed at reducing compliance burdens for Indian exporters. "First pillar is that in case there is any flexibility in CBAM in future, that would be available to India. So, there is an obligation in that," he said.

Jain acknowledged that CBAM compliance could be challenging, particularly for SMEs, due to verification and reporting requirements. "As you know, CBAM compliance is a concern among SMEs in terms of verification, in terms of finding out what is the value of embedded carbon, in terms of ensuring that the verifiers are recognised by EU authorities. So, there are separate provisions under that," he said.

Recognition of India's Carbon Pricing

He added that the agreement also creates a mechanism for engagement with the EU on recognising carbon costs incurred in India. "We also have a provision in which we can engage with EU authorities on taking into account the carbon price which is paid in India. As you would know, India also is developing its own carbon pricing mechanism. So, how to offset what is paid in India from what is paid in Europe, even that is part of it," Jain said.

Opportunities for SMEs and Overall Significance of FTA

Jain also rejected concerns that the agreement would adversely affect Indian SMEs, saying India and the EU have complementary trade structures. "I really don't see the pressure... Our SMEs can manufacture for some big European manufacturers. They have opportunities of direct exports also. I think there is a lot of opportunity rather than any fear of competition. In our consultations also, we never came across that fear. Most of our MSMEs actually are supportive of this," he said.

Jain also said the proposed India-EU FTA is significant because it brings together two of the world's largest economies and offers businesses access to a combined market of nearly USD 25 trillion. He said the agreement goes beyond tariff cuts by covering goods, services, e-commerce, intellectual property and other trade-related rules, giving businesses greater certainty in an evolving global trade environment.

According to him, the complementary strengths of India and Europe, with India's skilled workforce and Europe's technological capabilities, could help companies integrate into global value chains and create new opportunities for investment, manufacturing and exports. (ANI)

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No evidence of E20 fuel damage, says govt after use in crores of vehicles

Asianet News Central — Thu, 30 Jul 2026 22:00:35 +0530

No Evidence of Widespread Engine Damage from E20 Fuel, Says Govt

The Ministry of Petroleum and Natural Gas on Thursday refuted what it termed as "misleading claims" regarding ethanol-blended petrol (E20), asserting that there is "no verified evidence of widespread engine damage" linked to the fuel following years of scientific vetting and real-world usage across crores of vehicles.

Addressing concerns raised on social media platforms, the ministry clarified that its conclusions stem from over 25 years of phased implementation, continuous field tracking, and exhaustive stakeholder consultations.

The Central Government said E15-plus petrol has been deployed for over three and a half years, while E19-E20 fuel has been in circulation for more than two and a half years and over 20 crore two-wheelers and more than 3 crore petrol cars have operated on these fuel blends successfully without verified systemic failures.

Concerns Over Older Vehicles and Fuel Economy Addressed

In a detailed clarification, the ministry said its conclusion is based on "over 25 years of phased implementation, extensive scientific validation, continuous field experience across crores of vehicles, manufacturer service records, stakeholder consultations, and ongoing quality monitoring."

Responding to concerns over older vehicles, the ministry cited service data from a leading automobile manufacturer, which serviced 2.84 crore vehicles in FY2025-26, including around 1.5 crore vehicles that were not originally certified as E20-compatible, and found "no E20-linked corrosion, abnormal wear or reduction in component life." Similar positive field experiences were echoed by major two-wheeler and vehicle manufacturers.

The ministry also addressed concerns over fuel economy, saying any reduction in mileage for some older E10-designed vehicles is generally limited to 3-5 per cent, while factors such as driving habits, tyre pressure, traffic conditions and vehicle maintenance have a much greater impact. It added that E20 offers a higher octane rating, cleaner combustion and smoother engine performance.

Expert View and Industry Consultation

Speaking to ANI, Aniruddha Bhalchandra, Director, ICT, said many of the concerns being circulated on social media are not backed by scientific evidence. "The social media campaign is based on half-truths and incorrect information... incomplete scientific understanding of the whole phenomenon," he said.

Bhalchandra said ethanol's lower calorific value may lead to a 3-4 per cent reduction in mileage, but added that this is a known property of the fuel and should not be mistaken for engine damage. He further said that regular servicing and timely replacement of ageing rubber components in older vehicles can help avoid such issues.

The ministry said higher ethanol blends were introduced only after consultations with automobile manufacturers, the Society of Indian Automobile Manufacturers (SIAM), the Automotive Research Association of India (ARAI), component manufacturers, testing agencies and oil marketing companies. It added that manufacturers continue to honour vehicle warranties, reflecting confidence in E20 fuel compatibility. (ANI)

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Flipkart launches 'Flipkart Pay Later' BNPL service with PayU Finance

Asianet News Central — Thu, 30 Jul 2026 22:00:31 +0530

E-commerce companies are expanding their buy now, pay later (BNPL) offerings to attract more shoppers, with Flipkart on Thursday launching 'Flipkart Pay Later', a checkout-integrated credit service that allows customers to defer or split payments across its platforms.

Flipkart Pay Later: Features and Repayment Options

According to the Indian ecommerce player, the new offering, launched in partnership with PayU Finance, is available across Flipkart, Myntra and Flipkart Minutes. It provides three repayment options - up to 30 days to pay for everyday purchases, a "Pay in 3" facility that splits the bill into three payments, and EMIs ranging from three to 12 months for higher-value products such as smartphones, electronics, appliances and furniture.

The company said the service is aimed at both everyday shopping and larger purchases, with credit integrated directly into the checkout process.

Driving Affordability in Digital Commerce

"Affordability remains the core driver of how millions in India engage with digital commerce. For these consumers, aspiration has never been a constraint, access has," Vishal Ahuja, Executive Director, Flipkart Finance, said. "As pioneers of easy financing, with Flipkart Pay Later, we are putting a decade of commerce signals to work, building an underwriting model that sees these customers clearly and extends them credit at the moment it matters the most," he added.

Partnership with PayU Finance

Flipkart said it has launched the programme with PayU Finance, the NBFC arm of PayU, as its first lending partner, while additional financial institutions will be added as the platform expands. Under the arrangement, PayU Finance acts as the licensed lender, while Flipkart Finance manages customer relationships and uses commerce data to support credit decisions.

Data-Driven, Responsible Lending

The company said credit decisions are based on factors such as transaction history, purchase patterns and platform behaviour, combined with PayU Finance's lending and risk management capabilities, to ensure responsible lending.

Expanding Financial Inclusion

Commenting on the partnership, Deepak Mendiratta, CEO of PayU Finance, said, "As digital commerce continues to evolve, the need for responsible and accessible credit has never been greater."

"Through our partnership with Flipkart Finance, we are combining technology, data-driven underwriting, and strong risk management to deliver seamless credit experiences at scale. Flipkart Pay Later is another step towards expanding financial inclusion while powering the next phase of India's digital commerce growth," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)