India is set to witness the introduction of ₹10 and ₹20 polymer currency notes as part of a pilot project approved by the Centre, while the Food Safety and Standards Authority of India (FSSAI) has directed beverage companies to remove the term "energy drink" and related promotional claims from their products. Meanwhile, Bank of Baroda has launched a forensic investigation after reports emerged of a major customer data breach on the dark web.

Here are the top business developments:

RBI to Introduce ₹10 and ₹20 Polymer Notes

The Reserve Bank of India (RBI) will print 100 crore ₹10 notes and 100 crore ₹20 notes made from polymer, taking the total to 200 crore plastic currency notes under a pilot programme.

Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that the Centre has approved the proposal. The polymer notes will initially be introduced on a trial basis, while the existing paper currency notes will continue to remain legal tender.

The RBI is yet to announce the rollout date. If the pilot proves successful, polymer notes of other denominations may also be introduced in the future.

FSSAI Orders Removal of 'Energy Drink' Label

India's food regulator has instructed manufacturers of beverages such as Red Bull, Sting and Monster to discontinue the use of the term "energy drink" and remove claims suggesting that the products provide instant energy or refreshment.

According to the FSSAI, promotional statements such as "instantly energises the body and mind" or "provides immediate energy" are misleading because India currently has no prescribed food standards defining an "energy drink."

Companies have been given 90 days to revise product labels and marketing material to comply with the regulator's directive.

Bank of Baroda Investigating Major Data Leak

Bank of Baroda is investigating an alleged cyber incident after reports claimed that customer information and internal banking documents had surfaced on the dark web.

According to cybersecurity researchers, the leaked database reportedly contains over 700 GB of sensitive information, including customer identification records, loan documents, internal audit files and confidential operational records.

The public sector lender has initiated a forensic audit to determine the source and extent of the breach while assessing whether customer data has been compromised.

Gold and Silver Extend Rally

Precious metals continued their upward trend on July 27.

According to the India Bullion and Jewellers Association (IBJA):

• Silver gained ₹1,726 to reach ₹2.25 lakh per kilogram.

• 24-carat gold rose ₹685, taking the price of 10 grams to ₹1.45 lakh.

Market analysts believe gold prices could touch ₹1.60 lakh per 10 grams this year if global uncertainties persist.

Gadkari Moves Against Deepfake Videos

Union Road Transport and Highways Minister Nitin Gadkari has clarified that he has no role in India's ethanol blending programme, stating that the initiative falls under the Ministry of Petroleum and Natural Gas.

The clarification comes after several AI-generated deepfake videos circulated on social media allegedly linking him personally to the E20 petrol policy.

Following permission from the Bombay High Court, Gadkari is preparing legal action against platforms including Meta, X and Google, seeking the removal of allegedly defamatory AI-generated content and protection of his personality rights.

Market Snapshot

Indian equity markets are expected to remain influenced by corporate earnings, global cues, crude oil prices and foreign investment flows.

Meanwhile, investors are also tracking developments in commodity prices, cybersecurity risks in the banking sector and regulatory changes affecting the consumer goods industry.