The Indian rupee slipped 4 paise to 95.74 against the US dollar in early trade on Tuesday, August 25, 2026, as higher crude oil prices and continued demand for the American currency weighed on the domestic unit.

The move came amid persistent uncertainty in global markets linked to tensions in the Middle East. Brent crude was trading above $92 a barrel, increasing pressure on oil-importing economies such as India.

The rupee has remained close to the 96-per-dollar mark in recent sessions. The Reserve Bank of India (RBI) has repeatedly intervened in the foreign exchange market to prevent a sharper decline, with state-run banks seen selling dollars on behalf of the central bank, according to traders cited by Reuters.

Why Is The Rupee Under Pressure?

One of the key factors is the rise in crude oil prices. India imports more than 85 per cent of its oil requirements, making the rupee particularly sensitive to increases in global energy prices. Higher oil prices increase India's import bill and can raise demand for dollars among oil companies.

The ongoing geopolitical tensions have added another layer of uncertainty. Brent crude was around $92.30 a barrel on Tuesday, while the US dollar index was near 99, according to Reuters.

Corporate demand for dollars has also kept pressure on the rupee. However, sustained RBI intervention has prevented the currency from moving sharply lower.

RBI Steps In To Limit Volatility

The central bank's presence in the foreign exchange market has become increasingly visible in recent weeks. Reuters reported that the rupee has been trading in an unusually narrow range as RBI intervention limits volatility.

The central bank has also received substantial foreign-currency inflows through measures introduced earlier this year. These inflows have helped strengthen India's foreign-exchange reserves and given the RBI additional room to manage currency volatility.

The rupee had closed at 95.6950 per dollar on Friday, August 21, after declining around 0.3 per cent over the week.

What Does A Weaker Rupee Mean For India?

A weaker rupee can make imports more expensive, particularly crude oil, machinery and other goods priced in US dollars. Higher import costs can eventually add pressure to domestic inflation.

At the same time, a weaker rupee can benefit exporters because their dollar earnings translate into more rupees. The overall impact therefore depends on the balance between India's import and export requirements.

For now, traders are closely watching crude oil prices, developments surrounding the Iran conflict and the RBI's foreign-exchange interventions. The 96-per-dollar level remains an important psychological level for the market.+

Google has removed three loan applications from the Play Store following a complaint from the Ministry of Home Affairs (MHA), amid a wider crackdown on fraudulent digital lending platforms accused of misusing users’ personal information and harassing borrowers.

The three apps — Horizon Cash Service, Money Score Monitor and JellyCredit — were flagged by the Indian Cyber Crime Coordination Centre (I4C), the cyber-security unit under the MHA. According to the information provided, the government sought their removal on August 19. Google subsequently took action against the apps.

The latest action takes the number of alleged fraudulent loan apps removed following government intervention this month to nine. Earlier, six other apps — Loan Orbit, Hisab, Nexx Loan, One Fund, Credit Factor and Mobile Credit — were also targeted.

How fake loan apps trap users

Fraudulent loan apps often attract users by promising quick loans with minimal documentation. Advertisements may claim that borrowers can receive amounts such as ₹50,000 within minutes without a CIBIL score or extensive paperwork.

Once installed, some malicious apps may seek access to sensitive information stored on a smartphone. This can include contact lists, photographs, identity documents and financial information.

Such access can create serious privacy and security risks. The information may subsequently be misused to threaten, intimidate or blackmail borrowers, particularly when they fail to meet demands for excessive interest or penalties.

Check lender before taking loan

Consumers should verify the company behind a loan application before submitting personal or financial information.

A legitimate digital lending application should be associated with a regulated bank or Non-Banking Financial Company (NBFC). Borrowers should check the lender's identity and verify its regulatory status through official Reserve Bank of India (RBI) resources rather than relying only on information displayed inside an app.

Users should also check whether the lender provides verifiable contact details and a physical business presence.

Avoid unnecessary app permissions

One of the biggest warning signs is an app asking for access to information that is not required for its stated purpose.

A loan application requesting access to a user's entire contact list, photo gallery or other unrelated data should be treated cautiously. Users should review permissions before installation and deny access that is unnecessary.

If an application continues to demand excessive permissions, uninstalling it is a safer option.

Never pay suspicious upfront charges

Users should also be cautious if an unknown loan application demands money before disbursing a loan, particularly under labels such as processing fees or file charges.

Unexpected upfront payments, unusually high interest rates, pressure tactics and promises of instant loans without proper verification can all be warning signs of a fraudulent lending operation.

Borrowers should carefully examine the lender's terms and conditions before accepting any loan.

Don't install APKs from unknown links

Cyber-security experts regularly advise users to avoid downloading applications through links received in unsolicited SMS messages, WhatsApp chats, emails or social media posts.

Unknown APK files can potentially contain malicious software capable of compromising a device or stealing sensitive information.

Users should download applications only through trusted sources and verify the developer and lender before entering financial or personal details.

What to do if you are targeted

If someone has already installed a suspicious loan app or is being threatened by people claiming to represent such an application, they should preserve evidence such as messages, screenshots, transaction details and phone numbers.

The complaint can be reported through India's national cybercrime helpline, 1930, and the government's cybercrime reporting portal. Users can also approach the cybercrime unit or police station in their area.

The suspicious application should be removed from the device after preserving relevant evidence. Users should also review app permissions and consider changing passwords or taking additional account-security measures if sensitive information may have been exposed.

The latest removals underline the importance of checking a digital lender before borrowing. A promise of an instant loan should not come at the cost of access to a phone's contacts, photographs, banking information or other personal data.

As UPI completes a decade, Prime Minister Narendra Modi highlighted its scale and reach, while official data shows a sharp rise in transaction volumes and value since 2016.

Prime Minister Narendra Modi on Tuesday marked 10 years of the Unified Payments Interface (UPI), describing the platform as a “major turning point” in India's digital payments journey and urging users to share how it has changed their everyday lives. The milestone comes as UPI has grown from a limited banking initiative into a central part of India's digital payments ecosystem. 

In a post on X, Modi said the scale and reach achieved by UPI were something every Indian could be proud of. He also invited people to share their experiences of using the platform and its impact on their lives. 

From Pilot to Mass Payments

UPI was launched by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI). The system initially began with 21 banks and has since expanded across India's banking and digital commerce ecosystem.

According to government data, annual UPI transaction volume rose from around 2 crore transactions in 2016-17 to more than 24,162 crore in 2025-26. Transaction value increased from about ₹0.07 lakh crore to nearly ₹314 lakh crore over the same period. 

The figures underline how rapidly digital payments have moved into routine transactions, ranging from person-to-person transfers to payments at physical and online merchants.

Record Scale in 2025-26

The Union Finance Ministry said UPI processed 24,161.69 crore transactions during 2025-26, with a total value of about ₹314 lakh crore. There were 703 active banks on the platform as of March 2026. 

March 2026 recorded UPI's highest monthly transaction volume at 2,264 crore transactions, while the monthly transaction value reached ₹29.53 lakh crore, according to the government's decade review. 

The platform accounted for about 85 per cent of India's digital payment transactions by volume in 2025-26, according to the Finance Ministry's data.

UPI's Global Expansion

UPI's growth has also extended beyond India's borders. The payment infrastructure has increasingly been adopted for cross-border payments and by countries seeking to enable UPI-based transactions for Indian travellers and other users.

The government has described UPI as the world's largest real-time payment system by transaction volume, citing its scale and interoperability. Official data also puts India's share of global real-time payment transaction volume at around 49 per cent in 2025. 

The expansion has made UPI an important component of India's broader Digital Public Infrastructure and an increasingly visible element of the country's digital diplomacy.

What Changed for Users

For consumers, UPI brought multiple banking functions into a single interoperable payment framework, allowing users to transfer money directly between bank accounts and make merchant payments using participating applications.

Its rapid adoption has also reduced the dependence on cash for many small-value transactions. QR-code payments have become common across shops, service providers and other businesses, allowing even small merchants to accept digital payments without requiring conventional card-payment infrastructure.

A Decade of Digital Payments

The 10-year milestone comes as India continues to expand its digital public infrastructure across banking, government services and commerce. UPI's trajectory has been closely associated with that wider shift towards real-time, interoperable digital services.

The next phase will involve expanding the system's international footprint, improving digital payment capabilities and ensuring that its growth remains accessible across different sections of the population.

For now, the decade milestone offers a measure of how dramatically India's payment habits have changed since UPI's public rollout in 2016.

Indian banks are likely to maintain stable asset quality despite continuing geopolitical uncertainty in West Asia, with slower growth in unsecured lending and reduced exposure to vulnerable segments expected to limit the risk of fresh bad loans, according to a Goldman Sachs report. The global investment bank said the asset-quality outlook for Indian lenders has improved substantially over the past five years, leaving the banking sector better positioned to absorb potential external shocks.

Goldman Sachs said concerns over asset quality have largely been concentrated in granular unsecured lending, particularly consumer unsecured loans and the microfinance (MFI) segment. Aggressive credit expansion in these areas had contributed to higher leverage among borrowers and triggered a non-performing loan (NPL) cycle, with the impact largely concentrated among mid-sized private banks. State-owned banks had no exposure to this particular segment, while stress at large private-sector banks remained limited to manageable levels, according to the report.

Unsecured lending slows

The risk of fresh stress has eased following significant deleveraging across vulnerable lending segments over the past 12-18 months. Goldman Sachs noted that the MFI loan book has contracted by 25% from its peak of Rs 4.4 trillion recorded in March 2024.

Growth in consumer unsecured loans has also moderated. Such lending expanded by around 10-12% in FY25 and FY26, compared with much faster growth of 25-30% during FY23 and FY24. The slowdown indicates that banks have become more cautious in extending credit in segments that previously experienced rapid expansion and rising repayment stress.

The changes are significant for the broader asset-quality outlook because unsecured loans generally carry greater credit risk than secured lending. A sustained moderation in growth, combined with borrower deleveraging, could therefore reduce the pace at which new stressed assets emerge.

West Asia impact seen limited

Goldman Sachs expects the ongoing West Asia crisis to have a limited direct impact on the asset quality of Indian banks. While geopolitical disruptions can affect businesses, trade, commodity prices and borrower cash flows, the report suggests that banks' reduced exposure to vulnerable lending categories provides an additional buffer.

The assessment comes as Indian lenders enter the period of heightened global uncertainty after several years of improvement in bad-loan conditions. The banking sector has also benefited from more disciplined credit expansion and lower exposure to segments that previously generated disproportionate stress.

MFI sector gets credit cover

The microfinance sector has another layer of protection through the Credit Guarantee Fund for Micro Units (CGFMU). According to Goldman Sachs, around 80-90% of the MFI loan book at several banks is now covered by the government-backed guarantee mechanism.

Such coverage could help cushion banks if non-performing loans increase sharply in the segment. However, the underlying quality of borrowers and the ability of financial institutions to maintain disciplined underwriting will remain important factors in determining future asset quality.

Consumer credit still has room

Despite the recent moderation, Goldman Sachs noted that consumer credit remains structurally underpenetrated in India. Unsecured loans account for around 18% of the overall retail loan book, indicating that the segment still has considerable potential for expansion.

For banks, the challenge will be to capture that growth without repeating the aggressive lending cycle seen in earlier years. Overall, the Goldman Sachs assessment indicates that Indian lenders are entering a period of geopolitical uncertainty with stronger asset-quality buffers, lower exposure to risky unsecured lending and more measured credit growth.

August 11 holds significance in Indian history for several political, historical and sporting milestones. The date is associated with the martyrdom of freedom fighter Khudiram Bose, the swearing-in of Mohammad Hamid Ansari as India's Vice President, and the birth anniversaries of former cricketer Yashpal Sharma and former Reserve Bank of India Governor D. Subbarao.

These events span India's freedom struggle, constitutional history, cricket and economic administration.

Khudiram Bose Martyred in 1908

One of the most significant events associated with August 11 took place in 1908, when revolutionary freedom fighter Khudiram Bose was executed by the British colonial authorities.

Born in 1889, Bose became involved in India's freedom movement at a very young age. He participated in revolutionary activities against British rule and was arrested following an attempt to target British officials.

Khudiram Bose was sentenced to death and was executed on August 11, 1908, at the age of 18. His courage and willingness to sacrifice his life for India's independence made him one of the youngest martyrs of the freedom struggle.

His name continues to be remembered in accounts of India's revolutionary movement against British rule.

Hamid Ansari Takes Oath as Vice President

On August 11, 2007, Mohammad Hamid Ansari took oath as the 13th Vice President of India.

Ansari, a former diplomat and chairman of the National Commission for Minorities, was elected to the office in 2007. He subsequently served two consecutive terms as Vice President.

During his tenure, Ansari also served as the ex-officio Chairman of the Rajya Sabha, presiding over proceedings of India's Upper House of Parliament.

His tenure became part of India's recent constitutional and parliamentary history.

Yashpal Sharma's Birth Anniversary

August 11 also marks the birth anniversary of former Indian cricketer Yashpal Sharma, who was born in 1954.

Yashpal was an important member of the Indian team that won the 1983 Cricket World Cup under the captaincy of Kapil Dev. He played a key role in India's campaign, particularly with his batting performances during the tournament.

His contribution in the 1983 World Cup remains an important part of Indian cricket history. Yashpal Sharma later served Indian cricket in other capacities, including as a national selector.

He passed away in 2021, but his role in India's first World Cup triumph continues to be remembered.

D. Subbarao's Birth Anniversary

Another notable figure associated with August 11 is Duvvuri Subbarao, who was born on this day in 1949.

An economist and former civil servant, Subbarao served as the 22nd Governor of the Reserve Bank of India from 2008 to 2013.

His tenure at the central bank included a period of major economic challenges, including the global financial crisis and its continuing impact on the Indian economy.

As RBI Governor, Subbarao was involved in decisions concerning monetary policy, inflation, banking regulation and financial stability.

A Date Connected to India's History

August 11 brings together events from very different periods of India's history. Khudiram Bose's execution represents the sacrifices made during the freedom struggle, while Hamid Ansari's swearing-in reflects the country's constitutional and parliamentary journey.

The birth anniversaries of Yashpal Sharma and D. Subbarao add sporting and economic dimensions to the date.

Together, these milestones highlight the contributions of individuals from different fields who became part of India's political, historical, sporting and economic story.

The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, paving the way for the government to introduce charges on certain digital payment modes, including the Unified Payments Interface (UPI), in the future. However, the amendment does not impose any immediate fee on UPI transactions.

The legislative change gives the Centre the authority to notify specific electronic payment systems where transaction charges may be levied at a later stage. Any decision on the nature, rate and applicability of such charges will require a separate government notification.

No Immediate Charges on UPI

The biggest takeaway for consumers is that UPI transactions remain free for now. The amendment only creates a legal framework that allows the government to introduce charges in the future if considered necessary.

Users can continue making UPI payments without paying any transaction fee, while the existing payment experience remains unchanged.

What Has Changed in the Law?

The amendment revises provisions of the Payment and Settlement Systems Act, 2007, removing the earlier legal restriction that prevented banks and payment service providers from charging a Merchant Discount Rate (MDR) on specified electronic payment modes.

Previously, Section 10A of the Act barred banks and payment operators from levying charges on electronic payment modes prescribed under Section 269SU of the Income Tax Act.

With the revised law, the government now has the flexibility to notify one or more digital payment modes where charges could be introduced in the future.

Who Could Pay the Charges?

Industry discussions have largely centred on the Merchant Discount Rate (MDR), a fee that merchants pay to banks and payment companies for processing digital transactions.

Experts believe that if charges are introduced, they are more likely to apply to merchant transactions rather than routine person-to-person UPI transfers.

However, the government has not announced any framework specifying who would bear the cost or what the charges could be.

Why Is the Change Being Considered?

UPI has become one of the world's largest real-time payment networks, handling billions of transactions every month. While the platform has significantly expanded digital payments and financial inclusion, banks and fintech companies have argued that maintaining the infrastructure involves substantial expenditure.

Payment service providers continue to invest heavily in cybersecurity, fraud prevention, technology upgrades and transaction processing systems. Industry stakeholders have repeatedly called for a sustainable revenue model to support the growing digital payments ecosystem.

Reserve Bank of India Governor Sanjay Malhotra has also recently observed that maintaining payment infrastructure requires continued investment and that a long-term funding mechanism would eventually be necessary.

Will Everyday Users Be Affected?

At present, there is no indication that ordinary UPI users making daily peer-to-peer transactions will be charged.

The government will decide in the future whether any category of digital payments should attract fees and, if so, under what conditions.

UPI's rapid success has largely been driven by its simple, free-to-use model. Analysts believe any future charging mechanism is likely to be carefully designed to avoid discouraging digital payment adoption, particularly among small merchants and individual consumers.

For now, the amendment primarily gives policymakers the flexibility to design a sustainable funding model for India's rapidly expanding digital payments infrastructure without immediately changing how consumers use UPI.

Indian cricketer Ishan Kishan has once again grabbed attention, this time away from the cricket field. The wicketkeeper-batter was recently seen performing his duties as an Assistant Manager at the Reserve Bank of India (RBI) in Patna, with photographs of him in formal attire wearing an RBI identity card going viral on social media.

Kishan secured the position under the sports quota, joining a select group of Indian cricketers who balance their sporting careers with government or public sector jobs.

Although professional cricket remains his primary commitment, Kishan's appointment reflects a long-standing tradition of Indian sportspersons being offered government positions in recognition of their achievements.

The left-handed batter last represented India during the T20I series against Zimbabwe and is expected to be part of India's squad for the Asian Games later this year.

Mohammed Siraj Serves as Telangana DSP

India pacer Mohammed Siraj was appointed as a Deputy Superintendent of Police (DSP) by the Telangana government after India's victorious T20 World Cup campaign.

The appointment was made under the state's sports policy to honour Siraj's contribution to Indian cricket. Besides the Group-I police post, the Telangana government also allotted him a residential plot.

Siraj has since been seen attending official functions in police uniform, earning him the popular nickname "DSP Siraj" among cricket fans.

KL Rahul Also Works with RBI

Senior India batter KL Rahul is also employed as an Assistant Manager in the Reserve Bank of India.

Rahul received the appointment through the sports quota during an RBI initiative aimed at encouraging sports talent while strengthening public engagement with young audiences.

He has previously featured in RBI promotional campaigns alongside other Indian cricketers.

Yuzvendra Chahal Is an Income Tax Officer

Leg-spinner Yuzvendra Chahal serves as an Income Tax Officer, a position he received in 2018 under the sports quota.

While continuing his professional cricket career, Chahal remains associated with the Income Tax Department, joining several other Indian athletes employed by government institutions.

Joginder Sharma Continues as Haryana DSP

Former India fast bowler Joginder Sharma, remembered for bowling the final over in India's victorious 2007 ICC T20 World Cup final, serves as a Deputy Superintendent of Police in Haryana.

Over the years, Joginder has actively participated in police duties, including disaster relief operations during floods in Haryana, where photographs of him assisting rescue teams received widespread appreciation.

Rinku Singh Appointed Regional Sports Officer

Explosive middle-order batter Rinku Singh was recently appointed as a Regional Sports Officer by the Uttar Pradesh government.

The appointment came in recognition of his performances for India and domestic cricket. Along with the government post, Rinku was also honoured with a financial reward of ₹3 crore.

Honorary Military Ranks for Indian Legends

Several legendary Indian cricketers have also received honorary appointments in the armed forces.

Former World Cup-winning captain Kapil Dev was conferred the honorary rank of Lieutenant Colonel in the Indian Army in 2008.

Cricket icon Sachin Tendulkar became the first sportsperson without an aviation background to receive the honorary rank of Group Captain in the Indian Air Force in 2010.

Former India captain MS Dhoni, known for his deep association with the armed forces, was awarded the honorary rank of Lieutenant Colonel in the Territorial Army following India's 2011 ODI World Cup triumph.

Recognition Beyond Cricket

Government appointments through sports quotas continue to recognise athletes for their contribution to the nation while providing career security beyond their sporting years. From banking and taxation to policing and public administration, several Indian cricketers have successfully combined their professional sporting careers with public service, highlighting the growing recognition of excellence in Indian sport.

The Reserve Bank of India (RBI) is expected to keep the benchmark repo rate unchanged at 5.25% when Governor Sanjay Malhotra announces the outcome of the Monetary Policy Committee (MPC) meeting at 10:00 AM on Tuesday. Market participants and economists largely expect the central bank to maintain the status quo, citing rising inflation risks and global economic uncertainty.

The three-day MPC meeting concludes today, marking the RBI's third monetary policy review of the current financial year.

Focus on Inflation and Growth

Economists believe the RBI is unlikely to alter interest rates immediately despite concerns over slowing global growth. The central bank is expected to prioritize balancing inflation control with domestic economic expansion.

Higher crude oil prices, weather-related risks to food inflation and uncertainty surrounding global monetary policy have prompted the RBI to adopt a cautious approach, according to analysts.

June Policy Maintained Status Quo

At its previous policy meeting in June, the RBI had also left the repo rate unchanged at 5.25%. However, it revised its inflation projection for 2027 upward from 4.6% to 5.1%, indicating growing concerns over price pressures.

The current review is the third of six scheduled MPC meetings for the financial year, following the April and June policy decisions.

Experts See No Immediate Rate Change

Financial market experts expect the central bank to avoid any immediate policy shift amid elevated global uncertainty.

According to Maulik Patel, Head of Research at Equirus Securities, rising fuel prices and weather-related disruptions have increased both wholesale and retail inflationary pressures. The brokerage estimates India's Consumer Price Index (CPI) inflation to average around 4.9% during the current financial year.

Patel said the RBI is likely to remain cautious given tighter monetary conditions globally and could consider a 25 basis point rate hike during the December policy review if inflationary pressures persist.

Why Repo Rate Matters

The repo rate is the interest rate at which the RBI lends short-term funds to commercial banks and serves as the central bank's primary monetary policy tool.

When inflation rises sharply, the RBI typically increases the repo rate, making borrowing costlier for banks. Banks, in turn, raise lending rates for consumers and businesses, reducing overall demand and helping contain inflation.

Conversely, during periods of weak economic activity, the RBI lowers the repo rate to encourage borrowing, investment and consumption by making loans cheaper.

Markets Await Policy Guidance

Apart from the interest rate decision, investors will closely monitor the RBI Governor's commentary on inflation, liquidity management, economic growth and future policy direction.

Any change in the central bank's inflation outlook or policy stance could influence bond yields, equity markets, banking stocks and lending rates over the coming months.

With inflation remaining a key concern and global uncertainties continuing, markets expect the RBI to signal a measured and data-driven approach while maintaining policy flexibility.

India witnessed several major developments across the consumer goods, technology and financial sectors on Tuesday, with the Food Safety and Standards Authority of India (FSSAI) halting the sale of several Dabur products over "100% pure" claims, the Centre summoning Meta's global team over content moderation issues, and fresh proposals reviving the debate on Merchant Discount Rate (MDR) for UPI payments.

Here are the top business stories of the day.

FSSAI Stops Sale of Dabur's '100% Pure' Products

The FSSAI has directed Dabur to stop selling several products, including honey and cow ghee, that were marketed with claims of being "100% pure."

According to the food regulator, the purity claims could mislead consumers. The authority has sought a detailed compliance report from the company within 15 days while reviewing the product claims under food safety and labelling regulations.

The move comes amid increasing regulatory scrutiny over advertising claims made by food and FMCG companies.

Thousands of WhatsApp Accounts Placed Under Review

WhatsApp users in India and several other countries reported that their accounts were suddenly placed under review, temporarily restricting messaging and calling services.

Affected users received notifications stating that their accounts were "Under Review," with platform access suspended for up to 24 hours.

Meta acknowledged the issue, saying automated systems can occasionally make mistakes and that affected accounts would be restored after verification where appropriate.

Government Summons Meta's Global Team

The Central Government has summoned representatives of Meta for meetings scheduled on August 5 and 6 over concerns related to content moderation and platform governance.

Officials are expected to discuss issues including the handling of child sexual abuse material (CSAM), synthetic AI-generated content and alleged wrongful action against verified accounts of public representatives and other prominent users.

The meeting follows growing regulatory scrutiny of digital platforms operating in India.

UPI MDR Proposal Back in Discussion

The Ministry of Finance has proposed amendments to payment-related laws that could pave the way for the return of the Merchant Discount Rate (MDR) on UPI transactions.

MDR is the fee paid by merchants to banks and payment service providers for processing digital payments. The charge was removed for UPI transactions in 2020 to promote digital payments.

The proposal has reopened discussions over the long-term sustainability of India's digital payment ecosystem, although no final decision has been announced.

WhatsApp Testing Age Verification Feature

WhatsApp has begun testing an age verification feature with a limited group of users in India.

Some users have reported prompts asking them to enter their date of birth as the platform prepares for compliance with India's Digital Personal Data Protection (DPDP) Act.

The feature is currently in the testing phase and is expected to be expanded gradually if implemented.

Markets Extend Late-Session Rally

Indian equity markets witnessed a sharp rise during the final minutes of trading for the second consecutive session.

Market participants attributed the movement to changes in settlement and trading mechanisms following recent regulatory measures introduced by the Securities and Exchange Board of India (SEBI).

The unusual late-session rally has drawn attention from retail investors and analysts monitoring market behaviour.

Gold and Silver Prices Continue to Rise

Precious metals extended their gains on Tuesday.

According to the India Bullion and Jewellers Association (IBJA), silver prices climbed by ₹1,348 to around ₹2.19 lakh per kilogram, while 24-carat gold rose ₹309, taking the price of 10 grams to approximately ₹1.43 lakh.

Gold prices have increased by nearly ₹10,000 so far this year amid strong global demand and geopolitical uncertainty.

RBI Issues New FD Guidelines

The Reserve Bank of India has introduced new guidelines for Small Finance Banks (SFBs) regarding fixed deposits.

Under the revised framework, banks will be required to disclose interest rates and other key deposit terms more transparently before customers invest in fixed deposits, improving consumer awareness and protection.

Telegram Restored on Apple's App Store

Messaging platform Telegram has returned to Apple's App Store after briefly becoming unavailable to users.

The company confirmed that the service had been restored but did not specify the reason behind its temporary removal.

Government Plans LIC Stake Sale

The Centre has announced plans to sell up to 6.5% of its stake in Life Insurance Corporation of India (LIC) through an Offer for Sale (OFS).

The floor price has been fixed at ₹382 per share, while retail investors will receive a ₹15 per share discount.

The disinvestment aims to help the government meet SEBI's minimum public shareholding norms before the May 2027 deadline.

The Reserve Bank of India (RBI) is widely expected to leave the benchmark repo rate unchanged at its Monetary Policy Committee (MPC) meeting this week, as inflation remains within the central bank's prescribed tolerance range despite rising global oil prices triggered by the Iran conflict.

According to a Reuters survey, 68 of 72 economists expect the MPC to maintain the current policy rate. While the RBI is unlikely to tighten monetary policy immediately, analysts believe it may adopt a more hawkish tone by highlighting emerging inflation risks and reiterating that future decisions will remain data-dependent.

Inflation Still Within Target Band

India's retail inflation rose to 4.38 per cent in June, crossing the RBI's medium-term target of 4 per cent for the first time in 17 months. However, it remains well within the central bank's statutory tolerance band of 2 to 6 per cent, allowing policymakers room to pause.

Core inflation, which excludes volatile food and fuel prices, has also remained close to 4 per cent, suggesting that underlying price pressures are still manageable.

Economists say the current inflation trajectory does not yet warrant an immediate increase in interest rates.

Oil Prices Pose Fresh Challenge

The recent surge in crude oil prices following geopolitical tensions in West Asia has added uncertainty to the inflation outlook.

Although higher fuel costs typically feed into transportation, manufacturing and consumer prices, RBI Governor Sanjay Malhotra recently indicated that the pass-through from fuel prices to broader inflation has so far remained limited.

However, inflation expectations among households have started to rise, according to the RBI's latest survey, raising concerns that sustained high energy prices could eventually push overall inflation higher.

Wholesale inflation has also accelerated, reaching 9.87 per cent in June, adding another element of caution for policymakers.

RBI May Adopt Hawkish Tone

While the central bank is expected to keep rates unchanged, market participants believe the MPC could signal greater vigilance over inflation risks.

Analysts expect the policy statement to acknowledge global uncertainties, elevated commodity prices and currency pressures while emphasising that future action will depend on incoming economic data.

Such a stance would allow the RBI to balance inflation management with support for economic growth.

Different Approach from Global Central Banks

The RBI's expected pause contrasts with the actions of several major central banks that have tightened monetary policy in response to rising energy costs.

Countries including Europe, Australia, Indonesia, the Philippines, Singapore, South Korea and South Africa have raised interest rates in recent weeks.

Meanwhile, the US Federal Reserve and the Bank of Japan have opted to keep policy rates unchanged as they continue to assess the economic impact of global geopolitical tensions.

Focus on Stability

Apart from inflation, the RBI is also monitoring the rupee and capital flows.

Recent policy measures aimed at supporting the Indian currency have helped attract foreign investment, reducing immediate pressure on the exchange rate despite volatile global markets.

For now, economists expect the central bank to prioritise financial stability while closely watching inflation trends before considering any future policy tightening.

Several key financial and public service changes have come into effect across India from August 1, 2026, impacting households, businesses, banking customers and railway passengers. The changes include a significant reduction in commercial LPG cylinder prices, a new token-based Tatkal ticket booking system at railway reservation counters, the rollout of the upgraded CKYC 2.0 platform, revised credit card billing norms, and the Reserve Bank of India's upcoming monetary policy meeting that could influence borrowing costs.

Commercial LPG Cylinder Prices Reduced

Oil marketing companies have reduced the price of 19-kg commercial LPG cylinders by nearly ₹180–₹200 across major cities.

Under the revised rates, a commercial cylinder now costs:

However, there has been no change in the price of 14.2-kg domestic LPG cylinders.

The reduction is expected to lower operating costs for restaurants, hotels and catering businesses, potentially easing prices of food and related services.

Railways Introduce Token System for Tatkal Booking

Indian Railways has implemented a token-based system at Passenger Reservation System (PRS) counters for Tatkal ticket bookings.

Passengers seeking Tatkal tickets at reservation counters will now first collect a token before completing the booking process. The system aims to reduce overcrowding, streamline queues and improve waiting times during peak booking hours.

The allocated token will indicate the passenger's turn, allowing bookings to be completed in a more organized manner.

RBI Monetary Policy Meeting Scheduled

The Reserve Bank of India's Monetary Policy Committee (MPC) will meet from August 3 to August 5, with the policy decision scheduled to be announced on August 5.

While economists broadly expect the central bank to maintain the current policy rate, any change in interest rates could influence:

• Home loan and vehicle loan EMIs

• Personal loan borrowing costs

• Fixed deposit (FD) returns

• Overall lending and deposit rates across banks

Borrowers and investors will closely watch the outcome of the meeting for signals on inflation and economic growth.

CKYC 2.0 Goes Live

The upgraded Central Know Your Customer (CKYC) 2.0 platform has also been introduced.

The enhanced system allows banks, insurance companies, mutual funds and other regulated financial institutions to access a customer's KYC details from a single centralized database after obtaining consent.

The upgraded framework is designed to:

• Eliminate repeated submission of KYC documents

• Improve data accuracy

• Strengthen cyber security

• Reduce identity fraud

Customers opening new financial accounts or purchasing investment products are expected to benefit from a faster onboarding process.

Revised Credit Card Billing Rules

The Reserve Bank has also updated credit card billing norms to improve transparency.

Under the revised framework, if a customer does not pay the entire outstanding credit card bill, interest will be calculated only on the unpaid principal amount. Additional charges such as penalties, convenience fees and taxes will not be included while computing interest.

The move is expected to reduce borrowing costs for customers carrying forward outstanding balances while making billing practices more transparent.

What These Changes Mean

The August policy changes are aimed at simplifying public services, strengthening consumer protection and improving financial transparency. Lower commercial LPG prices may ease operational costs for businesses, while digital upgrades like CKYC 2.0 and revised banking rules are expected to make financial services more efficient. Meanwhile, railway passengers and borrowers will also experience procedural changes that could improve convenience in the coming months.

India’s economic growth may slow to 6.6 per cent in the financial year ending March 2027, down from 7.7 per cent in the previous year, according to a Reuters poll of economists.

Oil Raises Pressure

Higher global crude prices have increased risks for an economy that imports most of its energy requirements. Expensive oil can widen the trade deficit, weaken the rupee and push up transport and production costs.

Investment Remains Uneven

Official data has shown growth in private investment, but economists remain uncertain about whether the momentum will last. Companies may delay large projects when consumer demand, global trade and financing costs remain unpredictable.

Household Impact

Slower growth can affect job creation and wage increases. If fuel and freight costs rise, households may also pay more for food, travel and manufactured goods, even when headline inflation remains manageable.

RBI Faces Difficult Choice

The Reserve Bank of India must balance slowing activity against the inflationary impact of energy prices. A prolonged oil shock could limit the scope for rate cuts intended to support borrowing and investment.