India’s UPI platform achieved its highest monthly transaction value ever. In July, transaction volumes also reached a new record high. The platform processed billions of transactions, surpassing previous records. This sustained growth strengthens India’s digital payment ecosystem significantly. UPI is also expanding its global footprint across several countries.
Foreign investors are showing renewed interest in Indian equities after significant outflows. Geopolitical uncertainties and elevated oil prices continue to pose risks to the outlook. India’s domestic economy demonstrates robust performance with healthy sales and credit growth. The Reserve Bank of India is expected to align its monetary policy with the US Federal Reserve. Delays
The Samudra Manthan – National Offshore Exploration Scheme aims to unlock India’s offshore oil and gas potential. This will be done through large-scale seismic surveys, deepwater exploration, scientific drilling.
Indian Oil Corporation has significantly increased its spot crude purchases to nearly eighty-four percent. This strategic shift occurred after Middle East supply routes faced disruptions. The company also diversified imports from West Africa and Latin America. Despite higher crude costs, Indian Oil reported its highest-ever first-quarter crude throughput. Fuel sales and market share saw notable
Foreign exchange inflows under RBI’s special swap facility reached $40.816 billion by July end. This figure nearly doubled from $20.718 billion reported just two weeks prior. FCNR(B) deposits were the primary driver, contributing $36.725 billion to the total collections. Overseas foreign currency and external commercial borrowings also added substantial amounts. The facility aims to strengthen
A US crude oil cargo is heading to Israel after almost three years. The Aframax tanker Captain John loaded the oil in Texas on Thursday. This shipment carries approximately 550,000 barrels of West Texas Intermediate crude. The vessel is chartered by the global trading house Vitol for this journey. This event occurs amid ongoing disruptions
India’s gross Goods and Services Tax collections reached over Rs 2.11 lakh crore in July. This represents a significant 15.4 percent increase compared to the previous year. Higher revenues from both domestic transactions and imports contributed to this strong performance. The government also maintained a healthy pace of refunds, totaling Rs 29,968 crore. Net GST
Prime Minister Narendra Modi inaugurates the Alluri Sitarama Raju International Airport on Saturday. He will also lay foundation stones for significant development projects worth over seventeen thousand nine hundred crore. The new airport is designed to handle six million passengers annually and boost regional connectivity. Foundation stone will be laid for Andhra Pradesh’s first semiconductor
FIFA has withdrawn its plan to sell a stake in its commercial operations. Strong opposition from football federations led to the proposal’s abandonment. FIFA President Gianni Infantino announced the decision after listening to all views. Major continental bodies like UEFA and CONCACAF rejected the plan. Infantino will now seek other ways to strengthen global football.
Commercial Liquefied Petroleum Gas cylinder prices have been reduced effective August 1. A 19 kg cylinder in Kolkata saw a Rs 209 price cut. Delhi experienced a Rs 202 reduction for the same commercial cylinder. This marks the second consecutive month of price decreases for commercial LPG. Domestic LPG cylinder prices remain unchanged during this
