RBI MPC keeps repo rate unchanged at 5.25%, maintains 'neutral' stance

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.25 per cent. RBI Governor Sanjay Malhotra announced the decision after the policy meeting.

At its policy meeting, held between August 3 and August 5, the committee maintained its 'neutral' stance.

The Standing Deposit Facility (SDF) rate remained at 5 per cent, while the Marginal Standing Facility (MSF) rate and the bank rate stayed at 5.5 per cent.

The RBI Governor said underlying inflation has remained under control for some time and is expected to converge with overall core inflation by the end of the current financial year.

"Headline inflation is expected to rise further in the near term. It is expected to peak in Q3 of this year, primarily again due to food and fuel, and thereafter moderate."

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RBI proposes to harmonise framework on interest rates on advances: Malhotra

The Reserve Bank of India (RBI) proposed to harmonise and standardise the regulatory framework on interest rates on advances for all regulated entities (REs) to enhance transparency in lending rates and strengthen consumer protection, Governor Sanjay Malhotra said.

In its statement on development and regulatory policies, the RBI said that the proposed rationalisation aims to harmonise the guidelines across REs while maintaining proportionality to address certain operational aspects of the current framework on marginal cost of funds-based lending rate (MCLR) and external benchmark lending rate (EBLR); and standardise certain divergent market practices concerning interest charging, including day count convention and benchmark reset dates.

These measures would ensure uniformity, enhance transparency in loan pricing, strengthen monetary transmission and bolster consumer protection.

The RBI will also draft directions incorporating these proposals and will be issued shortly for public comments.

In July, the RBI had revised deposit interest rate regulations to improve transparency. It allowed banks to offer different interest rates on bulk deposits based on their liquidity risk profile. Banks will be permitted to offer differential interest rates on bulk deposits after taking into account the rates applicable to deposits or unsecured wholesale funding under the Liquidity Coverage Ratio (LCR) framework.

However, it added that deposit rates must be uniform across all branches of a bank and customers. It cannot discriminate between similar deposits of the same size.

These new norms are effective from October 1, 2026.

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Sebi mulls depository receipts against REIT, publicly listed InvIT units

Markets regulator Sebi proposed allowing issuance of Depository Receipts (DRs) against units of Real Estate Investment Trusts and publicly listed Infrastructure Investment Trusts to widen investment options for overseas investors and attract foreign capital.

Depository Receipts are foreign currency-denominated instruments issued by a foreign depository in a permissible jurisdiction against securities deposited with a domestic custodian in India.

Under the proposed framework, Real Estate Investment Trusts (REITs) and publicly listed Infrastructure Investment Trusts (InvITs) would be permitted to issue DRs in permissible overseas jurisdictions, enabling foreign investors to trade such instruments in foreign currency on permitted international exchanges.

However, Sebi has proposed keeping privately listed InvITs outside the ambit of the framework.

At present, units of REITs and InvITs are denominated in Indian rupees and listed on recognised stock exchanges in India. Such trusts can invite subscriptions and allot units to foreign investors, subject to guidelines specified by the Reserve Bank of India (RBI) and the government.

Sebi noted that units of REITs and InvITs qualify as "permissible securities" under the Depository Receipts Scheme 2014. Further, the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, permit persons residing outside India to invest in REIT and InvIT units.

Consequently, the existing DR Scheme and foreign investment rules permit issuance of DRs against REIT and InvIT units. However, there is currently no enabling provision or corresponding framework under Sebi's REIT and InvIT regulations for such issuances.

To address this gap, Sebi has proposed inserting enabling provisions in the REIT Regulations and InvIT Regulations to allow DRs to be issued against units of REITs and publicly offered InvITs, subject to compliance with the regulations and conditions specified by the regulator.

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CWG 2026: India finishes fourth with 39 medals, 13 golds

India finished fourth at the 2026 Commonwealth Games with a 39-medal haul, including 13 gold, 17 silver and nine bronze. On the surface, it was another strong showing for a contingent competing in one of the most restricted editions of the Games, with only Australia, England and Canada finishing ahead in the standings.

The Glasgow edition featured just 10 sports, leaving out several disciplines that have traditionally been among the country’s biggest medal sources. The absence of shooting, wrestling, badminton and table tennis significantly reduced India’s opportunities to climb higher.

India concluded its campaign with 39 medals falling below the 50-medal threshold for the first time since Kuala Lumpur in 1998. Having hit the 69-medal mark in the 2002 Manchester Games, the Glasgow Games mark India's worst tally in 24 years. However, measuring Glasgow 2026 purely by the number of medals won does not show the true picture. The CWG 2026 campaign has been a tournament of adaptability, efficiency, and sporting growth for India.

Across the 10 featured sports, India yielded an impressive 3.90 medals per featured sport, a density rate that is among the country's best in the tournament's history.

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Veteran Nepalese mountaineer Purja dies in avalanche on Broad Peak in PoK

Veteran Nepalese mountaineer Nirmal Purja died in an avalanche on Broad Peak, located in Pakistan-occupied Kashmir’s Gilgit Baltistan, his expedition company said on August 1, 2026.

Purja, 43, was among 10 climbers swept away by the avalanche that struck Broad Peak, located in the Karakoram range near K2, at an altitude of around 7,000 metres on July 30.

Three bodies, including a Nepalese mountaineer, have already been identified, and six other bodies have been located at the mountain, said a Nepal Mountaineering Association official.

The Broad Peak expedition marked the end of Purja’s illustrious mountaineering career. It is the world’s 12th-highest mountain and is considered one of the most challenging peaks to climb.

Purja had successfully climbed all 14 peaks above 8,000 metres around the world in just six months and six days, setting a new record in 2019. He was about to complete his mission of climbing all 14 eight-thousanders twice after completing the Broad Peak.

Beginning in 2003, Purja had a distinguished 16-year military career, of which he spent six years as a Gurkha and 10 years with the U.K. Special Forces.

Purja was appointed Member of the Order of the British Empire (MBE) in 2018.

The avalanche struck the mountain at an altitude of around 7,000 metres on Thursday (July 30), sweeping away the 10-member climbing team that had begun its summit push, according to the Alpine Club of Pakistan (ACP).

The climbers — six from Nepal, one Pakistani, one Omani, one American and one Chinese — went missing at around 9 a.m. on July 30 following the avalanche.

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PM-VBRY completes one year, over 72 lakh first-time workers join formal workforce

The Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY), the Centre’s flagship employment-linked incentive scheme, has completed one year of implementation, with more than 72 lakh first-time employees joining the formal workforce since its launch in August 2025. The scheme is aimed at promoting formal employment, expanding social security coverage and encouraging employers to create new jobs.

Launched for implementation from August 1, 2025, to July 31, 2027, PM-VBRY has a financial outlay of Rs. 99,446 crore. The scheme seeks to generate employment for over 3.5 crore people, including 1.92 crore first-time employees, through an Employees’ Provident Fund Organisation (EPFO)-linked framework.

The scheme provides incentives to both employees and employers to encourage workforce formalisation and sustained job creation.

Under the employee component, first-time employees earning up to Rs. 1 lakh per month are eligible for a one-time incentive equivalent to one month’s EPF wage, capped at Rs. 15,000. The incentive is released in two instalments—after six months of service and after completing twelve months of continuous service along with a financial literacy programme. A portion of the incentive is invested in a designated savings instrument to promote long-term financial security.

For employers, the scheme provides incentives of up to Rs. 3,000 per month for two years for every eligible additional employee retained for at least six months. In the manufacturing sector, the incentive is extended to the third and fourth years to encourage employment generation in labour-intensive industries.

According to the government, more than 15 lakh beneficiaries have already received employment-linked incentives under the scheme, while nearly 30 per cent of the beneficiaries are women, reflecting increased participation of women in formal employment.

The government said PM-VBRY complements the National Manufacturing Mission by encouraging employment in new and expanding industries while strengthening India’s organised labour market through EPFO registration and social security coverage.

The scheme is implemented through a fully digital platform integrated with the EPFO. Aadhaar-based authentication, Universal Account Numbers (UANs), Electronic Challan-cum-Return (ECR) filings and Face Authentication Technology through the UMANG app are used for beneficiary verification and seamless delivery of incentives.

The government said the scheme is designed to encourage first-time employment, reduce hiring costs for employers and expand formal employment opportunities, thereby strengthening India’s workforce and supporting the country’s long-term vision of becoming a developed nation by 2047.

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Glaw Lake in Arunachal Pradesh designated India’s 101st Ramsar Site

Environment, Forest and Climate Change Minister Bhupender Yadav has announced the designation of Glaw Lake in Arunachal Pradesh as India’s 101st Ramsar Site. In a social media post, the Minister described the development as an important step for biodiversity conservation, water and climate security, and sustainable livelihoods. Mr Yadav said that this pristine freshwater lake in the Eastern Himalayas is a biodiversity hotspot, nestled within the Kamlang Tiger Reserve and Wildlife Sanctuary.

The Minister said that Glaw Lake is surrounded by lush vegetation, with more than 150 tree species and 49 orchid species recorded within the site and its catchment. The Minister described this as a significant milestone as the State gets its first Ramsar Site. He said that India has emerged as a global leader in wetland conservation. Mr Yadav noted that from 26 Ramsar Sites in 2014 to 101 today, the journey reflects the Government’s commitment to environmental protection, biodiversity conservation, and sustainable development. He said, every new Ramsar Site strengthens the Government’s resolve to protect nature while securing the future of communities that depend on these invaluable ecosystems.

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Department of Posts releases Commemorative Postage Stamp to Mark the Centenary of Satish Gujral

The Department of Posts released a Commemorative Postage Stamp on the Centenary of renowned artist, architect, sculptor, muralist and writer late Shri Satish Gujral at a special ceremony held at Bikaner House, New Delhi. The stamp was released by the Union Minister of Communications and Development of North Eastern Region, Shri Jyotiraditya M. Scindia, in the presence of Director General Postal Services, Shri Jitendra Gupta, Chief Postmaster General Delhi Circle Col. Akhilesh Kumar Pandey, famous Indian painter, sculptor, and muralist Padma Bhushan recipient Shri Jatin Das, former Director General of the National Gallery of Modern Art Dr. Rajeev Lochan, Ms. Raseel Gujral Ansal, members of the Gujral family and other distinguished guests.

Referring to the commemorative stamp issued on the 125th anniversary of VSNL, he observed that Gujral had translated the idea of communication into striking visual metaphors. Likewise, in the Financial Inclusion stamp, he brought together the themes of progress, empowerment and national development through evocative symbolism rather than literal imagery.

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Nauru, World's 3rd-Smallest Country, Changes Its Name To Naoero

The Pacific Island country of Nauru has changed its name to the Republic of Naoero, its president said, matching the spelling and pronunciation in the national language.

The country's international code will change from NRU to NRO and its people will be known as dei-Naoero instead of Nauruan. Commonly known abroad by the pronunciation of Now-roo, the new name is spoken as Now-ero.

The country became known internationally as Nauru only because its local name was difficult for foreigners to pronounce and was a matter of convenience rather than one of choice, according to an earlier government statement.

With 12,000 residents, Nauru is the world's third-smallest country by population size, after Tuvalu and Vatican City. The tiny coral limestone atoll was colonized by Germany and later administered by Australia before becoming an independent republic in 1968.

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HDFC Bank launches ‘Max for Seniors’ and ‘Max for Her’ savings accounts

HDFC Bank on Monday introduced two specialised savings account variants—'Max for Seniors' and 'Max for Her'—that bundle together benefits such as cyber fraud insurance, health cover, airport lounge access and higher fixed deposit returns through auto-sweep facilities.

The launch reflects a broader trend among banks to move beyond interest rates and compete by offering insurance, healthcare and lifestyle perks to attract customers.

The two accounts are part of HDFC Bank's flagship Savings Max portfolio and target two rapidly growing customer segments.

According to government estimates cited by the bank, India's senior citizen population is expected to reach 230 million by 2036, while women already account for 39.2% of all bank accounts and nearly 40% of total deposits.

The Max for Seniors account offers cyber fraud protection of up to Rs. 25,000, hospitalisation cover of up to Rs. 1 lakh, an additional 0.5 percentage point interest on fixed deposits, doorstep banking, airport lounge access, a complimentary health check-up, accidental death cover on the debit card of up to Rs. 3.19 crore, and waiver of first-year demat account charges.

The Max for Her account includes hospitalisation cover of up to Rs. 1 lakh, accidental death insurance of up to Rs. 10 lakh linked to the account, up to Rs. 3.19 crore accidental cover on the debit card, 50% discount on locker charges, airport lounge access and an auto-sweep facility that shifts surplus balances into fixed deposits to potentially earn higher returns.

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India is home to 13,703 species of lepidoptera, about 8.25% of all known species of butterflies and moths

India is home to 13,703 species of lepidoptera — butterflies and moths — which is about 8.25% of the total lepidoptera found across the globe.

Scientists of the Zoological Survey of India (ZSI) have come out with a detailed Catalogue of Lepidoptera (Butterflies & Moths) of India which has been published in peer reviewed journal Zootaxa.

ZSI scientists Navneet Singh and Rahul Joshi took almost 12 years to complete the monumental work of cataloguing, field exploration, museum curation, and rigorous literature verification.

Butterflies and moths play crucial roles in maintaining ecological equilibrium, serving as essential herbivores, detritivores, and pollinators, while acting as vital food resources for birds, bats, and other insectivores, the ZSI scientists said.

Among the 13,703 species of lepidoptera, the scientists have identified and catalogued 2,205 species of Geometroidea, nocturnal pollinators taking over the ‘night shift’ when daytime butterflies rest. These 2,205 species of Geometroidea have been found across 479 genera, 13 subfamilies, and four families — accounting for 8.80% of the world’s known species in this superfamily.

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Indigenous African Swine Fever (ASF) Vaccine Developed by ICAR Bolsters India's Biosecurity

African Swine Fever (ASF), caused by the African Swine Fever Virus (ASFV), is one of the most devastating trans-boundary animal disease affecting domestic and wild pigs worldwide. Characterised by high fever, haemorrhages and mortality rates that may approach 100 per cent, the disease has caused severe socio-economic losses to the global pig farming sector. Since its first detection in India in 2020, ASF has spread to several States and Union Territories, resulting in massive pig mortality, disruption of pig production, restrictions on animal movement and trade, and significant livelihood losses for smallholder pig farmers, particularly in the North-Eastern region. In the absence of an effective treatment or a commercially approved vaccine in India, disease control has largely relied on rapid diagnosis, culling of infected animals and strict biosecurity measures.

Scientists at ICAR–National Institute of High Security Animal Diseases (ICAR-NIHSAD), Bhopal, have developed India's first indigenous MA-104_Cell_Line-Based Live Attenuated African Swine Fever (ASF) Vaccine for pigs. Developed using a novel attenuated ASFV Genotype II virus with unique gene deletions in the MA-104 cell line, the vaccine is a major breakthrough in veterinary research and is well suited for large-scale production.

The vaccine has successfully undergone comprehensive laboratory evaluation, including sterility, purity, safety, genetic stability, immunogenicity, protective efficacy and virulence reversion studies. It was also field validated in collaboration with the Department of Animal Husbandry & Dairying (DAHD), Ministry of Fisheries, Animal Husbandry & Dairying, Government of India, further establishing its safety and efficacy under field conditions. The vaccine is recommended for healthy pigs above eight weeks of age and is administered as a 1 mL intramuscular injection, followed by a booster dose 14 days after the primary vaccination.

The indigenous vaccine is expected to substantially reduce pig mortality, minimise economic losses and improve the livelihoods of pig farmers across the country. By providing an effective preventive tool against one of the world's most destructive livestock diseases, it will significantly strengthen India's animal health security and support the sustainable growth of the pig farming sector.

At present, only a couple of commercially licensed ASF vaccines are available in Vietnam. These vaccines are produced using patented proprietary cell lines. In contrast, the indigenous vaccine developed by ICAR-NIHSAD uses the widely available MA-104 cell line, making it a major technological breakthrough. This eliminates dependence on proprietary manufacturing platforms, enables large-scale vaccine production and significantly brings down manufacturing costs.

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Veteran Actor Pradeep Rawat Dies at 74 After Battling Blood Cancer

Actor Pradeep Rawat died on 4th August 2026 while undergoing treatment for cancer. He was 74.

Rawat was a familiar face in Hindi, Telugu, Tamil, Kannada and Malayalam cinema, with a career that spanned more than three decades.

He was widely recognised for playing the ruthless antagonist in the Tamil film Ghajini (2005). His performance was so well received that he was brought back to play the same role opposite Aamir Khan in the 2008 Hindi remake.

He had also worked with Aamir Khan earlier in Lagaan (2001).

Many viewers first came to know Rawat through BR Chopra's iconic television series Mahabharat, in which he played Ashwatthama, the son of Dronacharya.

Although he had made his film debut with Meri Jung in 1985, it was his role in Mahabharat that brought him widespread recognition.

His filmography includes Sarfarosh, The Hero: Love Story of a Spy, Stalin, Veeram, 1: Nenokkadine, Loukyam, Nenu Sailaja, Sarrainodu, Nene Raju Nene Mantri, Aayirathil Iruvar, Market Raja MBBS and Miss Match.

A major milestone in his career came with SS Rajamouli's Sye (2004), which marked his Telugu debut.

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