RBI & Banks: RBI moved to distance itself from bank deposit “ratings”, a move that could push lenders to scramble for short-term foreign borrowings as FCNR(B) leverage timelines tighten. NBFC Credit Rules: NBFCs are urging RBI to rethink a proposed blanket ban on revolving credit products, warning it could hit credit worth over Rs 2 lakh crore and squeeze MSME and retail borrowers. Markets & Flows: Equity mutual funds saw redemptions jump nearly 40% in July even as SIP inflows stayed strong, with money rotating toward riskier mid- and small-cap funds; the rupee slipped to around Rs 95.4 amid crude and global uncertainty. Energy Security: India set refinery-wise daily LPG production targets to build buffers after Hormuz-linked disruptions, with Reliance getting the biggest quota. Aviation & Trade: Navi Mumbai International Airport launched its first dedicated international freighter flight (Hong Kong Air Cargo) and plans more cargo services; Egypt shipped 44,000 tons of phosphate to India via Safaga. Infrastructure & Cities: The Mumbai-Ahmedabad bullet train is framed as city-centre-to-city-centre connectivity, with BKC and other stations set to link major business hubs. Food Safety: Malls escalated hygiene scrutiny on restaurants and cafes amid regulator crackdowns, warning tenants that lapses can hurt the entire mall brand. Geopolitics & Policy: India will host BRICS Environment Ministers’ meetings in Delhi on Aug 17-18, focusing on sustainable lifestyles, circular economy and adaptation. Tech & Cyber: India launched “Cyber Kushti 2026”, a national cybersecurity and AI hackathon aimed at testing human judgment in security assessments.
AGP Executive Report
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LPG Supply Push: India has set refinery-wise LPG production targets to cut import dependence after Middle East disruptions, with Reliance getting the biggest quota (up to 18,000 tonnes/day) and public refiners collectively asked to produce 31,470 tonnes/day. Tax Compliance: A tax amnesty for small taxpayers with undeclared foreign assets opened on Sunday, letting eligible individuals disclose foreign income/assets up to ₹50 million rupees with deadlines through Dec 31, 2026. Market Mood: Domestic equities stayed weak; five top firms lost about ₹1 lakh crore in market value last week, with TCS taking the biggest hit, while some others gained. Corporate Earnings: Q1 FY27 earnings showed broad-based momentum, with 19 sectors beating estimates; financials, metals, tech and telecom stood out, while OMCs remained a drag. Aviation Growth: Delhi airport’s master plan proposes raising annual passenger capacity to 125 million, with Pier E at Terminal 3 planned by April 2030. Mining Rules: Parliament passed the MMDR Amendment Bill 2026, giving the Centre stronger control over mineral-bearing land regulation and limiting certain state levies. Infrastructure & Civic: Mumbai’s BMC cleared encroachments under a “Pedestrian First” drive and completed major suburban rail trespass-control works; a Thane water main leak was repaired and supply restored. Business & Consumer: Airtel is reshuffling prepaid packs, which brokerages say could lift ARPU by Rs 4–12; Senco Gold and HAL received analyst target updates amid mixed margin signals.
Defence & Security: Newly declassified accounts on Operation Sindoor say India narrowed 34 potential targets to 9 for precision strikes after the Pahalgam terror attack, aiming to hit terrorist camps while avoiding civilian harm. India–Bangladesh Diplomacy: Delhi and Dhaka are negotiating over ousted PM Sheikh Hasina’s continued presence in India and how it could affect Tarique Rahman’s likely visit next week, with key issues including visas, water and security for India’s northeast. Trade & Macroeconomy: India’s goods trade deficit widened to a six-month high $31.98 bn in July as imports rose on higher oil, electronics and gold; exports hit a record $44.24 bn. Energy Costs: An economist warns cutting Russian crude purchases by 50% could add $5–10 bn to India’s annual oil bill, lifting inflation and pressuring the rupee/current account. Finance & Payments: BRICS is discussing linking instant payment systems and integrating central bank digital currencies to cut cross-border costs. Urban Governance (Mumbai): Maharashtra’s human rights panel has summoned MCGM officials over medico-legal case muster rules, while Mumbai’s seven-lake water stock improved to 92% (about 323 days).
Independence Day Policy Push: PM Modi used his 80th I-Day Red Fort address to pitch “Viksit Bharat@2047” with a seven-stream “Sapta Dhara” growth plan, while announcing free online coaching for competitive exams and AI skills training for 10 million youth—a direct response to recent exam-paper leak and recruitment scandal protests. Education & Competition Reform: The government also moved to remove the 12-minute TV ad cap, arguing the market is now far more competitive and the change will improve ease of doing business. Markets & Consumer Watch: The Supreme Court asked the Centre to reconsider front-of-package nutrition labels for packaged foods, challenging the stance that matching international standards is “not possible.” Mumbai Cost Pressure: BEST consumers face a Fuel Adjustment Charge hike approved by MERC, raising bills by up to 95 paise/unit. Food Safety Crackdown: Maharashtra FDA seized expired Frooti/Appy Fizz stock worth about ₹1 crore and sealed a warehouse near Chembur. Urban Commuting Disruption: Delhi traffic police warned that Mehrauli-Badarpur Road will face congestion for a month due to metro work. Talent Risk for GCCs: A PwC-FICCI study flags talent shortages hurting India’s GCC growth, delaying launches and scaling AI/digital programs. International Ties: Maldives President Muizzu thanked India and reaffirmed deepening the strategic partnership as India marks Independence Day.
Space Cooperation: A former Indian ambassador argues India can turn space competition into global partnerships by leaning on its “reliable, cost-effective” track record and development-first approach. Digital Infrastructure & Environment: In Visakhapatnam, residents and activists are protesting large AI data centres over water, pollution and heat concerns, with police action reported during solidarity protests. Education & Youth: President Droupadi Murmu’s I-Day eve address flagged paper leaks and exam reforms as key to youth security and opportunity. Caste Census: The government notified 40 census questions, including caste details for the first time, with enumeration starting Sept 1 in snow-bound areas. Urban Housing (Delhi): DDA’s Master Plan for Delhi-2047 proposes higher FAR for in-situ slum rehab, changes for TOD and land-pooling, aiming for 40 lakh more homes by 2047. Markets & Money: RBI data shows forex reserves jump by $14.14 bn to $707 bn; rupee closed around 95.42 per dollar. Trade & Energy: India is examining Bangladesh’s request for extra petroleum supplies, weighing its own needs and refining capacity. Mumbai Enforcement: EOW arrested two directors in a ₹15.09 cr gold jewellery payment fraud; separate raids also targeted fake doctors and a mobile refund scam. Business Moves: Krystal Integrated Services plans to buy Citelum India and target ₹300–350 cr annual revenue from city lighting and urban infrastructure. Corporate/Investing: WeWork Inc sold a 2.5% stake in WeWork India for about ₹244 cr.
EV Fleet Push: EMO Energy and e-Sprinto will deploy 8,000 electric scooters across India this fiscal year for quick-commerce and last-mile delivery, using EMO’s ZenPac liquid-cooled battery and fleet monitoring. Deadly Infrastructure Incident: A sudden water and debris surge hit an under-construction tunnel in Uttarakhand’s Chamoli, killing at least seven; 13 workers have been rescued so far and CM Pushkar Singh Dhami will visit the site. Solar Momentum: India added a record 27 GW of solar capacity in 1H 2026, up 49% YoY, with policy support like PM Surya Sarovar Yojana and state incentives aimed at scaling rooftop and storage. BRICS Payments Talks: RBI Governor Sanjay Malhotra said BRICS is exploring integration of instant payment systems and central bank digital currencies to cut cross-border transfer costs. Mining Deal: Vedanta won the bid for a 152-hectare manganese block in Andhra Pradesh, aimed at boosting domestic supply. Market & Regulation: NSE warned investors against dabba trading and Telegram/Facebook tipsters; SAT allowed Zee Entertainment’s fundraise to proceed but kept SEBI’s market ban active. Trade & Inflation Watch: Wholesale inflation eased to 9.78% in July as fuel and power costs cooled; India’s exports rose strongly in July while the trade deficit widened.
Maritime & Trade: India will showcase ports, shipping, digitalisation and green initiatives at SMM Hamburg 2026, with senior officials leading the delegation. Geopolitics & Supply Chains: The US accused India and 39 other nations of enabling China’s tariff evasion via “shadow trans-shipment,” and said it will use AI to detect and penalise such routing. Exports & Inflation: India’s July merchandise exports jumped 19.6% (four-year high) to $44.2 bn, but imports rose faster, widening the goods trade deficit to a six-month high of about $32 bn; retail inflation also accelerated to 4.45%. Finance Deal: Bank of America will invest $1.9 bn for up to 49.9% in Jio Financial’s lending arm Jio Credit, betting on India’s retail credit growth. Real Estate & Urban Policy: Delhi’s Master Plan 2047 proposes ~40 lakh additional homes, more rental and smaller flats; DDA also inked a pact for a 5-star Grand Hyatt in Dwarka by 2030. Corporate & Consumer: Tata Motors’ PV profit fell 80% as JLR woes hit earnings; Reliance Digital kicked off its “Digital India Sale” with exchange and EMI offers. Health & Social: Mumbai hospitals will display reserved beds and central scheme details, while India’s transplant gap remains huge despite record 2025 volumes.
AI Infrastructure Boom: L&T won a mega order worth Rs 10,000-15,000 crore to build India’s largest single-cluster AI facility in Chennai, with 10,000 Nvidia B300 GPUs for US-based Together AI—another big step in India’s “AI factory” push. Healthcare Earnings: Max Healthcare’s Q1 profit rose 4.7% as demand for complex care and bed additions stayed strong, with revenue up nearly 17%. VC Funding: Mirae Asset Venture’s third India-focused fund held its first close at about $118m, targeting Series B-D growth in AI, deeptech and advanced manufacturing. Markets & FX: Rupee slipped 12 paise to 95.45 per dollar amid weak domestic sentiment and foreign outflows; Sensex edged up while Nifty fell on sectoral pressure. Trade Pressure: India’s July trade deficit widened 31.5% to $15.03b as imports grew faster than exports, though merchandise exports hit a record July high. Digital Rights Clash: Delhi HC questioned Meta’s Rights Manager access rules after allegations of scam-driven fraudulent copyright strikes. Corporate Deals: Jio Financial Services will sell 49.9% in its NBFC arm Jio Credit to Bank of America for $1.9b, backing secured lending growth. Auto & Consumer: VW greenlit a Kylaq-based compact SUV for India; and Parle retained its top FMCG brand spot for the 14th year.
Urban Policy: Delhi’s Master Plan 2047 cleared by the LG/DDA, with changes aimed at higher density, easier redevelopment of older plots and eased land-pooling norms, now headed to MoHUA for final notification. Monsoon & Safety: Mumbai’s Ghatkopar landslide after heavy rain killed at least six (including children) and injured four, with rescue hampered by narrow access. Trade & Markets: India will pursue Preferential Trade Agreements instead of full FTAs with developing economies like South Africa, targeting selective product access; India and SACU signed ToR to negotiate a PTA within a year. Inflation: Retail inflation stayed elevated at 4.45% in July for the ninth straight month, driven mainly by food prices; rural inflation rose faster. Energy & Food Security: India faces a ~$35 bn renewable funding gap; InvITs flagged as a capital-recycling route. Separately, urea imports jumped as Strait of Hormuz disruptions pushed fertiliser costs, with India buying 1.1 mn tonnes from Egypt/Algeria/Nigeria. Corporate & Finance: Bank of America agreed to buy up to 49.9% in Jio Financial’s NBFC lending arm for ~$1.9 bn. Regulation: SEBI proposed allowing FPIs into physically settled non-agri commodity derivatives with safeguards. Food Safety: Maharashtra FDA suspended licences of multiple Domino’s and Sapphire Foods outlets over hygiene, storage and record-keeping lapses.
Tata Group Shake-up: Tata Sons chairman N. Chandrasekaran said he won’t seek reappointment when his term ends in Feb 2027, deepening boardroom uncertainty after months of no decision. Markets & Credit: Fitch affirmed India’s sovereign rating at BBB- with a stable outlook, citing resilient growth but flagging high debt and youth-job risks. Banking & Capital Flows: Central Bank of India mobilised $250 million under RBI’s FCNR(B) window, targeting $400 million by September end. Policy & Cities: Delhi’s Master Plan 2047 was approved after a long delay, setting the blueprint for housing, transport and greener growth. Health Insurance Reform: India is considering reforms to rein in medical inflation, including benchmarked treatment rates and a nationwide claims exchange. Consumer Tech: Smartphone shipments fell 11.1% YoY in Q2 amid a global memory chip shortage, even as market value rose. Energy & Trade: Russia reportedly started importing gasoline from India for the first time as refinery attacks tighten global supply. Quick Commerce Crackdown: Zepto and Blinkit faced food-safety action in Bengaluru and Mumbai, with warehouses sealed and licences suspended. Weather & Risk: Heavy monsoon rains triggered deadly landslides in Mumbai’s Kurla/Ghatkopar areas, with multiple deaths and injuries reported.
Venture Capital: Accel has raised $550 million for a new India-focused fund, oversubscribed and closed in weeks—signalling investor appetite for Indian tech despite a tougher global VC mood. Credit & Macro: Fitch affirmed India’s sovereign rating at BBB- with stable outlook, citing resilient growth but flagging fiscal pressure and rising youth job risks. Smartphones & Supply Chains: Chinese brands are seeing double-digit shipment declines in India as chip shortages and higher component costs push up prices; Xiaomi is also shifting strategy from volume to revenue. Urban Governance & Safety: Mumbai’s BMC has approved a new tech-driven cleanliness scheme for slums, while Mumbai police removed 1,497 unauthorised paan shops in July under a drug-free drive. Cyber & Enforcement: Navi Mumbai saw a surge in APK-based scams causing ₹2.68 crore losses, and an ACB trap led to custody of a sales tax officer over an alleged ₹15 lakh GST bribe demand. Trade & Industry: India’s merchandise exports hit a record $129.6 bn in Q1 FY27; government also targets a 10-fold jump in compressed biogas output to 5 mmscmd. Policy & Payments: Govt cleared field trials for 1 billion polymer banknotes in ₹10 and ₹20 denominations.
Macro & Markets: IMF pegged India’s nominal GDP at $3.92 tn for 2025-26, placing it 6th globally, while Fitch kept India’s BBB- rating with a stable outlook, citing growth resilience despite fiscal and governance headwinds. Energy & Trade: India’s oil imports from Russia hit a fresh July record, with Russian crude 87% of total fossil-fuel imports from Russia, even as US sanctions pressure rises; separately, India faces a ~$35 bn annual renewable financing gap, with InvITs flagged as a key capital-recycling route. Digital Payments: Apple Pay is set for India by October, initially without UPI support, as talks with card networks continue. Banking & Policy Tech: RBI governor Sanjay Malhotra said AI must be shaped by India, not the other way around, and warned banks about rural/small-business relevance for AI-led lending. Capital Markets & Deals: Goldman Sachs named JPMorgan banker Chandresh Chheda as India investment-banking co-head. Currency & Compliance: Govt cleared field trials for polymer ₹10 and ₹20 notes to circulate alongside paper money. Urban Business & Infra: Afcons won a ~$201m Mumbai desalinated water tunnel project; Porter flagged off its 10,000th electric truck in Delhi. Security & Enforcement: ED launched a pan-India probe into paper leak money trails; Telangana Cyber Bureau busted a Delhi call-centre loan fraud racket, arresting 21 women. Consumer & Industry: Smartphone shipments in India fell 11.1% YoY in Q2 as prices rose; Nissan’s Tekton helped lift its July volumes.
Renewables Security Clamp: India’s Home Ministry bars new solar, wind and hybrid projects within 1 km of the LoC/LAC/International Border, while projects up to 50 km need security clearance, tightening rules for border-area clean energy. UPI Merchant Fees Framework: Parliament clears an enabling law for potential merchant charges on UPI, but Finance Minister Nirmala Sitharaman says consumers and most small merchants will keep paying nothing, with any MDR scope to be notified later. Markets Cautious: Sensex and Nifty edged up in a narrow trade as investors watched Middle East oil-risk chatter around the Strait of Hormuz; PSU banks lagged. Smartphone Financing: Smartphone EMI tenures average 10 months in Q2 2026, with Tier-2 cities driving EMI-led purchases; NBFCs are extending repayment options. Air India Turnaround Scrutiny: Commentary flags legacy PSU-style management and shifting timelines as Tata’s Air India struggles to fix performance. Delhi HC Defamation Case: Delhi High Court seeks The Caravan’s reply in Nikhil Gadkari’s defamation suit over alleged beef-trade links. Corporate Moves: Axis Mutual Fund launches Nifty Energy index fund/ETF NFOs; RailTel bags a ₹119.18 cr postal life insurance cloud order. Policy Pushback: Medical device industry and patient groups oppose a draft bill that they say treats devices like drugs, warning it could hurt manufacturing and innovation. Energy Trade & Diplomacy: Amnesty report alleges Indian arms shipments to Israel for aggressive use; separate coverage notes Bangladesh-India ties face a new test with Hasina’s planned return.
Energy Security & Offshore Oil: India approved the INR 840.84 bn “Samudra Manthan” scheme to speed up deepwater oil and gas exploration, with government support up to 50% of eligible drilling costs (capped at INR 6.75 bn per well) across basins including Krishna-Godavari, Cauvery and Mahanadi. Clean Power Milestone: India crossed 300 GW of non-fossil installed capacity (300.50 GW as of July 31), with solar at 164.59 GW and wind at 58.14 GW, already above 60% of the 2030 target. Markets & Policy: SEBI said it is using an AI system to scan social media for fraudulent investment claims, while Grant Thornton Bharat noted IPO investors are now demanding fair valuations and governance, with weaker subscription and listing gains. Banking Rules: RBI barred banks from remotely disabling borrowers’ phones/laptops for loan recovery, with a narrow exception only when the device was bank-financed. Tech & Business: Microsoft opened its fourth India cloud region in Hyderabad; Hyundai Motor India hit 0.8 mn connected-car sales and targets 1 mn by 2027. Aviation & Trade: flyadeal added a second India route (Riyadh–Mumbai); India–Chile trade jumped nearly 74% to $2.06 bn, led by mineral imports. Cybercrime: Delhi Police busted an interstate cyber-fraud syndicate after a stolen phone case, arresting nine. Civic & Environment: Mumbai activists pushed to ban plastic confetti in party poppers to cut waste.
RBI & Climate Risk: RBI is nearing operationalisation of its RB-CRIS climate risk repository, with the physical risk module expected first and transition risk later. Renewables Milestone: India’s non-fossil power capacity crossed 300 GW (300.5 GW) as of July 31, with solar at 164.6 GW, pushing renewables to over half of total installed capacity. US Sanctions & Oil: A US Senate move advancing Russia sanctions raises the risk of disruption to Russian crude supplies, though near-term impact on India is seen as limited depending on waivers. Markets Watch: Next week’s trading mood may stay volatile as investors track Q1 earnings, July inflation and crude moves amid geopolitical uncertainty. Delhi Rice Row: Delhi’s AAP and BJP traded allegations over a subsidised rice “racket” worth up to ₹22,000 crore, with BJP citing CAG findings and AAP alleging commission-based diversion. Aviation Safety: Air India’s Phuket-Delhi turbulence incident is under probe; the pilot is undergoing confirmatory psychoactive drug testing. Energy Trade Routes: Russia floated a direct rail link to the Indian Ocean via Central/South Asia to reduce reliance on chokepoints like Hormuz and Bosphorus. Mumbai Customs: Mumbai Airport Customs arrested a Surat man for allegedly smuggling ~6.6 kg hydroponic weed worth about ₹2 crore from Bangkok. Auto Outlook: Maruti expects India’s passenger vehicle market to reach 6.1–6.3 million units by FY31, led by small cars and SUVs.
US Tariff Shock: The US Senate has passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, raising the risk of up to 100% tariffs on countries buying Russian oil/gas—India is among the likely targets, putting pressure on exporters that ship roughly $80 bn of merchandise to the US. Silver Market & Regulation: BIS is scaling silver hallmarking capacity, expanding testing labs and using HUID to boost purity verification as demand for hallmarked silver nearly doubled in FY26. Urban Mobility: Delhi Metro hit 99.95% punctuality in 2026, with DMRC citing tighter delay benchmarks and improved headways. Auto & Rural Demand: Tractor retail sales jumped 28% in July to 117,349 units on better monsoon; Maruti expects passenger vehicle demand to reach 6.1–6.3 mn by FY31 and plans seven new SUVs plus capacity expansion. Energy & Industry: India is set to incentivise domestic polysilicon via a PLI-style scheme and approved an $8.8 bn offshore oil & gas exploration programme to cut import dependence. Policy & Weather: Heatwaves and lightning are now recognised natural disasters, unlocking NDRF/SDRF support for states. Corporate Pensions: PFRDA’s Jagpal says Corporate NPS can help build long-term retirement security for a more mobile workforce. Food & Consumer: Meevaa Foods expands to Mumbai and Bengaluru via Zappfresh, while FSSAI warned Diageo over potentially misleading whisky label claims.
UPI Clarity: India’s Finance Ministry says person-to-person UPI will stay free, and business payments won’t face direct charges; a “nominal” Merchant Discount Rate may apply only to limited, threshold-based transactions if Parliament clears the bill. Border Security & Renewables: The Home Ministry issued new rules banning solar, wind and hybrid projects within 1 km of LoC/LAC/International Border, with a 1–50 km belt needing security clearance. US Tariff Risk: The US Senate passed a Russia sanctions bill that could enable up to 100% tariffs on countries buying Russian oil/gas, putting India in the spotlight. India-US Strategic Push: PM Modi spoke with US VP JD Vance, reaffirming cooperation on trade, defence, critical tech, energy security and critical minerals. GIFT City Wealth: Standard Chartered got in-principle approval to offer wealth products in GIFT City. EV Momentum: July EV registrations hit a record 327,901 units, up 66% YoY. Mumbai Infra: Sion ROB’s second girder is set for an Aug 8-9 midnight launch, but opening is delayed to end-September. Delhi Lakshmi Yojana: Registrations by women crossed 5 lakh in the first week. BRICS Trade Talks: BRICS trade ministers met in Jaipur, focusing on MSMEs, trade resilience and supply chains; UAE pushed for reopening the Strait of Hormuz. Med-tech Boost: PM Modi said India’s med-tech ecosystem is strengthening via domestic manufacturing and reduced import dependence.
UPI Charges Debate: A new Parliament bill moves toward letting the government levy charges to recover costs for UPI payments, with RBI-style “financial highway” logic now colliding with the promise of free digital payments. US Tariff Risk for India: The US Senate passed a Russia sanctions bill that could trigger up to 100% tariffs on top buyers of Russian oil and gas—India is explicitly in the crosshairs—raising fresh alarm for engineering exports and inflation. Clean Energy Minerals: A CII-EY report warns India’s clean-energy push may deepen import dependence on critical minerals, with China dominating refining for key inputs. Med-Tech Push: PM Modi flagged India’s self-reliant medical devices push, citing PLI and Medical Device Parks as the country aims to become a trusted global med-tech partner. Digital Trade for Startups: DGFT expanded “Source from India” on Trade Connect to include eligible DPIIT-recognised startups, giving them buyer-discovery microsites and a startup badge. Housing Execution in Navi Mumbai: Odisha’s H&UD minister visited CIDCO’s PMAY-U projects in Navi Mumbai, spotlighting faster, factory-made construction and transit-oriented planning. Flood Impact in Assam: Assam flood toll rose to 98 deaths and 155,000+ affected across 13 districts, with heavy damage to farmland and livestock. AI Safety in Finance: CEA V Anantha Nageswaran urged the financial sector to build AI safety guardrails now, not after failures.
Medical Devices Push: India Medical Device 2026 began in Delhi, with policymakers urging deeper domestic value addition and component manufacturing to build a global MedTech hub. Healthcare M&A: KKR agreed to buy Medicover Hospitals India in a deal valuing the platform at about €1.2bn ($1.4bn). MSME Cashflow Reform: Parliament passed the MSME Development (Amendment) Bill, 2026, aiming faster supplier payments via a digital platform and mandatory routing of CPE payments through RBI’s TReDS. FCRA Backlash: India rejected US criticism of the FCRA amendments, calling it an internal legislative matter for Parliament. UPI Charges Clarity: Payments Council of India reiterated UPI should stay free for consumers and small merchants, backing MDR for large businesses. Energy & Trade: India’s bunker fuel market saw July supply disruptions on the west coast; separately, BRICS trade ministers wrapped up in Jaipur with focus on WTO reforms, MSMEs and resilient supply chains. Markets & Policy: Sebi data showed corporate bond mobilisation fell 8.4% in FY26; RBI/SEBI leadership changes also reported.
India-US Trade Talks: A Parliamentary panel urged the government to conclude the proposed India-United States Bilateral Trade Agreement early, while seeking full tariff exemptions for key exports like generic medicines, critical minerals and smartphones, plus stronger trade monitoring and a fast-track dispute mechanism. EV Push: India logged record EV retail sales of 3,27,901 units in July, up 66% year-on-year; electric two-wheelers crossed 2 lakh for the first time and EVs were nearly 1 in 8 vehicles sold. Banking: SBI’s Q1 net profit rose 10.23% to Rs 21,121 crore, supported by higher net interest income and improved asset quality. Markets & Investors: NSE data shows India’s investor base hit 13.2 crore, with the median investor age falling to 33 from 38 in 2020 and under-30 investors rising to 37.9%. Corporate & IPOs: KKR-backed LEAP India’s IPO saw 24% subscription by mid-afternoon; it targets a public debut on Aug 14. Cyber Security: I4C warned businesses about the “Boss Scam” using fake RBI/MCA files to hijack WhatsApp accounts and siphon funds. Regulation Watch: Delhi High Court stayed FSSAI’s order against Dabur over “100% pure/natural” claims. Clean Energy: Cabinet approved the Rs 23,731 crore GOBARdhan scheme to scale compressed biogas production.
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