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India’s recent move to boost domestic production of liquefied petroleum gas (LPG) is a step towards reducing dependence on imports of the critical cooking fuel. The maximum daily LPG production target has been set at 63,810 tonnes across state-run and private refineries, as well as upstream and gas-processing companies. This came after the Iran-US-Israel war and the Strait of Hormuz disruptions highlighted the fragility of India’s dependence on imported LPG. The government's plan is to maximise domestic LPG production so that India can cushion future supply shocks. Production targets will be reviewed in January and July.<h2>Ubiquitous, useful but unreliable? LPG is India’s main cooking fuel</h2>With more than 330 million active domestic connections, including over 100 million under the Pradhan Mantri Ujjwala Yojana (PMUY), India’s LPG consumption has grown over the past decade. Household users account for about 87 per cent of total LPG consumption, making stable LPG supplies critical for millions of Indian families. In FY 2025-26, India consumed around 33.2 million tonnes of LPG, which works out to around 91,000 tonnes per day.&nbsp;Domestic production was only about 13.1 million tonnes, or around 35,900-36,000 tonnes a day. This highlights India’s heavy import dependence: more than 64 per cent of the country’s requirements, or approximately 21.3 million tonnes, came from overseas sources.Clearly, LPG demand has grown faster than domestic production.&nbsp;Before the recent disruptions, up to &nbsp;92 per cent of India’s LPG imports came from the Middle East, mainly from the United Arab Emirates (UAE), which accounted for around 40-41 per cent, and Qatar, at about 22 per cent. Saudi Arabia and Kuwait each accounted for around 15 per cent.Also read: <a href="https://www.wionews.com/india-news/india-turns-to-russia-for-gas-could-it-cut-costs-or-trigger-us-sanctions-wion-decodes-1786179581651">India turns to Russia for gas: Could it cut costs or trigger US sanctions? WION Decodes</a><h2>A major push for domestic LPG production: But will it succeed?</h2>India’s domestic LPG production stood at around 36,000 tonnes a day. The new maximum production target of 63,810 tonnes a day is more than double that level. If fully achieved, it would equal roughly 70 per cent of current daily consumption and could dramatically narrow the supply gap during a crisis. However, the target is a maximum or potential framework that can be used to boost supplies during shortages or disruptions, and not a permanent daily production requirement.Actual output will depend on the technical and economic feasibility of increasing LPG recovery at individual facilities. LPG production at refineries will have to be balanced against the production of other products, such as petrol and petrochemicals.&nbsp;Adequate storage, evacuation facilities, rail connectivity and road tanker capacity will also be essential to ensure that additional LPG reaches consumers.In recent months, refiners have already demonstrated that domestic production could be raised from pre-war levels of around 36,000 tonnes a day to approximately 55,000 tonnes a day. The new ceiling of 63,810 tonnes provides additional headroom.It is not an overnight solution. Imports will still be needed to meet India’s full daily requirement for LPG.If domestic production increases, it could reduce the risk of long queues, delayed cylinder deliveries and localised shortages. Households may also be less likely to shift temporarily to alternatives such as biomass or kerosene.Domestic LPG production is useful only if the additional volumes can be stored, transported and distributed efficiently.<a href="https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed">https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed</a><h2>Who will help increase domestic LPG production?&nbsp;</h2>Reliance Industries has received the largest individual allocation under the framework. Its domestic-market-focused Jamnagar refinery has been assigned a maximum production target of 18,000 tonnes of LPG a day. Its export-oriented special economic zone unit is exempt from the allocation.Public-sector refineries collectively account for around 31,470 tonnes a day across 18 facilities.Upstream and gas-processing companies, including Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL) and GAIL (India) Limited, have been assigned a combined target of about 6,460 tonnes a day. These companies can contribute LPG recovered during natural gas processing and associated production.Other private refiners will contribute as well. Nayara Energy’s Vadinar refinery, for example, has an allocation of around 4,480 tonnes a day.Also read: <a href="https://www.wionews.com/india-news/from-fuel-security-to-grid-security-the-next-chapter-of-india-s-energy-transition-1784978960018">From fuel security to grid security: The next chapter of India's energy transition</a><h2>Can India reduce its Middle East dependence?</h2>Increasing domestic output can be only one part of the strategy.&nbsp;India is also diversifying its overseas suppliers to reduce its dependence on a single region. Sourcing LPG from the US and exploring supplies from countries such as Algeria, Norway and Oman can provide alternatives to traditional Gulf suppliers and reduce exposure to disruptions in the Middle East.Diversification can also broaden India’s pricing options. US LPG is linked to the Mont Belvieu benchmark, offering an alternative to the Gulf-linked pricing mechanisms that have traditionally influenced India’s import costs.<h2>Import dependence is likely to remain significant for years</h2>Even if the new maximum domestic production target is fully utilised, it would cover only around 70 per cent of present daily consumption. Demand is also continuing to grow, while additions to refining capacity do not necessarily translate into equivalent increases in LPG output.India is therefore not moving towards complete LPG import independence in the immediate future. Instead, the strategy is to reduce vulnerability by combining higher domestic production, stronger storage and transportation infrastructure, and a more geographically diversified import basket.For Indian households, the most immediate benefit could be greater protection against sudden supply shocks. The measures should make extreme shortages and prolonged delivery delays less likely during future disruptions, even as India continues to rely on imports to meet a substantial share of its LPG demand.

India’s 63,810-tonne LPG production target aims to strengthen domestic supplies, reduce import vulnerability and cushion households against Middle East and Strait of Hormuz disruptions. But is import dependence over?

India’s recent move to boost domestic production of liquefied petroleum gas (LPG) is a step towards reducing dependence on imports of the critical cooking fuel. The maximum daily LPG production target has been set at 63,810 tonnes across state-run and private refineries, as well as upstream and gas-processing companies. This came after the Iran-US-Israel war and the Strait of Hormuz disruptions highlighted the fragility of India’s dependence on imported LPG. The government's plan is to maximise domestic LPG production so that India can cushion future supply shocks. Production targets will be reviewed in January and July. Ubiquitous, useful but unreliable? LPG is India’s main cooking fuel With more than 330 million active domestic connections, including over 100 million under the Pradhan Mantri Ujjwala Yojana (PMUY), India’s LPG consumption has grown over the past decade. Household users account for about 87 per cent of total LPG consumption, making stable LPG supplies critical for millions of Indian families. In FY 2025-26, India consumed around 33.2 million tonnes of LPG, which works out to around 91,000 tonnes per day. Domestic production was only about 13.1 million tonnes, or around 35,900-36,000 tonnes a day. This highlights India’s heavy import dependence: more than 64 per cent of the country’s requirements, or approximately 21.3 million tonnes, came from overseas sources. Clearly, LPG demand has grown faster than domestic production. Before the recent disruptions, up to 92 per cent of India’s LPG imports came from the Middle East, mainly from the United Arab Emirates (UAE), which accounted for around 40-41 per cent, and Qatar, at about 22 per cent. Saudi Arabia and Kuwait each accounted for around 15 per cent. Also read: India turns to Russia for gas: Could it cut costs or trigger US sanctions? WION Decodes A major push for domestic LPG production: But will it succeed? India’s domestic LPG production stood at around 36,000 tonnes a day. The new maximum production target of 63,810 tonnes a day is more than double that level. If fully achieved, it would equal roughly 70 per cent of current daily consumption and could dramatically narrow the supply gap during a crisis. However, the target is a maximum or potential framework that can be used to boost supplies during shortages or disruptions, and not a permanent daily production requirement. Actual output will depend on the technical and economic feasibility of increasing LPG recovery at individual facilities. LPG production at refineries will have to be balanced against the production of other products, such as petrol and petrochemicals. Adequate storage, evacuation facilities, rail connectivity and road tanker capacity will also be essential to ensure that additional LPG reaches consumers. In recent months, refiners have already demonstrated that domestic production could be raised from pre-war levels of around 36,000 tonnes a day to approximately 55,000 tonnes a day. The new ceiling of 63,810 tonnes provides additional headroom. It is not an overnight solution. Imports will still be needed to meet India’s full daily requirement for LPG. If domestic production increases, it could reduce the risk of long queues, delayed cylinder deliveries and localised shortages. Households may also be less likely to shift temporarily to alternatives such as biomass or kerosene. Domestic LPG production is useful only if the additional volumes can be stored, transported and distributed efficiently. https://www.wionews.com/videos/west-asia-resumed-lng-imports-prompts-india-to-lift-emergency-natural-gas-supply-curbs-1783234632203/embed Who will help increase domestic LPG production? Reliance Industries has received the largest individual allocation under the framework. Its domestic-market-focused Jamnagar refinery has been assigned a maximum production target of 18,000 tonnes of LPG a day. Its export-oriented special economic zone unit is exempt from the allocation. Public-sector refineries collectively account for around 31,470 tonnes a day across 18 facilities. Upstream and gas-processing companies, including Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL) and GAIL (India) Limited, have been assigned a combined target of about 6,460 tonnes a day. These companies can contribute LPG recovered during natural gas processing and associated production. Other private refiners will contribute as well. Nayara Energy’s Vadinar refinery, for example, has an allocation of around 4,480 tonnes a day. Also read: From fuel security to grid security: The next chapter of India's energy transition Can India reduce its Middle East dependence? Increasing domestic output can be only one part of the strategy. India is also diversifying its overseas suppliers to reduce its dependence on a single region. Sourcing LPG from the US and exploring supplies from countries such as Algeria, Norway and Oman can provide alternatives to traditional Gulf suppliers and reduce exposure to disruptions in the Middle East. Diversification can also broaden India’s pricing options. US LPG is linked to the Mont Belvieu benchmark, offering an alternative to the Gulf-linked pricing mechanisms that have traditionally influenced India’s import costs. Import dependence is likely to remain significant for years Even if the new maximum domestic production target is fully utilised, it would cover only around 70 per cent of present daily consumption. Demand is also continuing to grow, while additions to refining capacity do not necessarily translate into equivalent increases in LPG output. India is therefore not moving towards complete LPG import independence in the immediate future. Instead, the strategy is to reduce vulnerability by combining higher domestic production, stronger storage and transportation infrastructure, and a more geographically diversified import basket. For Indian households, the most immediate benefit could be greater protection against sudden supply shocks. The measures should make extreme shortages and prolonged delivery delays less likely during future disruptions, even as India continues to rely on imports to meet a substantial share of its LPG demand.

India’s 63,810-tonne LPG production target aims to strengthen domestic supplies, reduce import vulnerability and cushion households against Middle East and Strait of Hormuz disruptions. But is import dependence over?

LPG domestic production mandates: Can it reduce India's dependence on volatile Middle East imports?

Brazil has formally opened a process under its Economic Reciprocity Law in response to US President Donald Trump's tariffs on Brazilian goods. President Luiz Inácio Lula da Silva said Brazil invoked the law to show that the country “respects itself” and will defend its interests. Brazil’s Foreign Ministry has notified Washington and requested diplomatic consultations. The process gives both sides time to negotiate measures that could reduce or eliminate the impact of the US tariffs.<h2>Trump tariffs: What could Brazil do?</h2>The reciprocity process does not automatically trigger matching tariffs. Brazilian authorities will first assess the impact on domestic industries and examine possible responses through the government’s foreign trade chamber, CAMEX. Public consultations form part of the process.Brazil’s Reciprocity Law allows proportional measures when foreign actions harm Brazilian competitiveness. Possible responses include tariffs on US goods, restrictions on services or imports, suspension of trade concessions and measures affecting intellectual property.Brazil has previously examined options involving US audiovisual companies and pharmaceutical patents.Officials are cautious about moving too quickly. Retaliatory measures could disrupt Brazilian supply chains, increase costs and add to domestic inflation.The government is therefore using the mechanism as both a potential defensive tool and negotiating leverage. Brazil also plans to challenge the US measures through the World Trade Organization and has offered support, including credit lines, to sectors hit by the tariffs.Also read: <a href="https://www.wionews.com/world/trump-administration-refunds-100-billion-in-tariffs-after-supreme-court-ruling-1785977857498">Trump administration refunds $100 billion in tariffs after Supreme Court ruling</a><h2>Lula open to direct talks with Trump</h2>Lula has warned Washington against interfering in Brazil’s domestic affairs and the October 2026 presidential election, while saying he is open to direct talks with Trump.Lula is seeking re-election against Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro and a prominent Trump ally.<a href="https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed">https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed</a><h2>Why did Trump impose the tariffs?</h2>The latest dispute escalated in July 2026, when the US imposed a 25 per cent tariff on many Brazilian products under Section 301 of the US Trade Act. The US Trade Representative cited what it called unreasonable or discriminatory Brazilian practices involving digital trade and electronic payments, including the PIX system, preferential tariffs, intellectual-property protection, ethanol market access, anti-corruption measures and illegal deforestation. The tariffs took effect around July 22.Major Brazilian exports have been exempted, including coffee, beef, oranges and orange juice, some energy products, fertiliser and aerospace products and aircraft parts.<h2>The 25 per cent measure affects roughly 18 per cent of Brazil’s exports to the US</h2>The tariffs could hit goods worth about $7.4 billion based on recent trade data. A separate 12.5 per cent tariff linked to alleged weak enforcement of forced-labour restrictions can apply to Brazilian products in some categories. Where the two measures overlap, duties can reach 37.5 per cent, affecting products such as certain sugar, apparel, paper and steel.Also read: <a href="https://www.wionews.com/world/brazil-denies-visas-to-us-officials-amid-fears-of-meddling-in-upcoming-presidential-election-1785042280555">Brazil denies visas to US officials amid fears of meddling in upcoming presidential election</a><h2>US-Brazil trade dispute becomes a political fight</h2>Brazil has called the US tariffs “unjustified and arbitrary” and pointed to the US goods trade surplus with Brazil. It said many US products already enter Brazil duty-free, while Brazil maintains a relatively low average applied tariff on US imports.Trump had previously threatened or announced tariffs of up to 50 per cent on some Brazilian goods, with some measures linked to US concerns over legal proceedings involving Jair Bolsonaro.Brazil’s Reciprocity Law was enacted in 2025 partly in response to such unilateral trade actions. It permits proportional countermeasures when foreign policies damage Brazil’s competitiveness.Visa disputes involving Brazilian and US diplomats have added to tensions. The two nations also fought over ambassadorial appointments and diplomatic access.&nbsp;

Brazil has opened a reciprocity process against US tariffs as President Lula seeks negotiations with Trump. Brazil is assessing retaliation while tensions grow over trade and the 2026 Brazil presidential election.

Brazil has formally opened a process under its Economic Reciprocity Law in response to US President Donald Trump's tariffs on Brazilian goods. President Luiz Inácio Lula da Silva said Brazil invoked the law to show that the country “respects itself” and will defend its interests. Brazil’s Foreign Ministry has notified Washington and requested diplomatic consultations. The process gives both sides time to negotiate measures that could reduce or eliminate the impact of the US tariffs. Trump tariffs: What could Brazil do? The reciprocity process does not automatically trigger matching tariffs. Brazilian authorities will first assess the impact on domestic industries and examine possible responses through the government’s foreign trade chamber, CAMEX. Public consultations form part of the process. Brazil’s Reciprocity Law allows proportional measures when foreign actions harm Brazilian competitiveness. Possible responses include tariffs on US goods, restrictions on services or imports, suspension of trade concessions and measures affecting intellectual property. Brazil has previously examined options involving US audiovisual companies and pharmaceutical patents. Officials are cautious about moving too quickly. Retaliatory measures could disrupt Brazilian supply chains, increase costs and add to domestic inflation. The government is therefore using the mechanism as both a potential defensive tool and negotiating leverage. Brazil also plans to challenge the US measures through the World Trade Organization and has offered support, including credit lines, to sectors hit by the tariffs. Also read: Trump administration refunds $100 billion in tariffs after Supreme Court ruling Lula open to direct talks with Trump Lula has warned Washington against interfering in Brazil’s domestic affairs and the October 2026 presidential election, while saying he is open to direct talks with Trump. Lula is seeking re-election against Senator Flávio Bolsonaro, the son of former president Jair Bolsonaro and a prominent Trump ally. https://www.wionews.com/videos/lula-pushes-for-powerful-brazilian-military-ahead-of-election-visits-aerospace-facility-1784975206917/embed Why did Trump impose the tariffs? The latest dispute escalated in July 2026, when the US imposed a 25 per cent tariff on many Brazilian products under Section 301 of the US Trade Act. The US Trade Representative cited what it called unreasonable or discriminatory Brazilian practices involving digital trade and electronic payments, including the PIX system, preferential tariffs, intellectual-property protection, ethanol market access, anti-corruption measures and illegal deforestation. The tariffs took effect around July 22. Major Brazilian exports have been exempted, including coffee, beef, oranges and orange juice, some energy products, fertiliser and aerospace products and aircraft parts. The 25 per cent measure affects roughly 18 per cent of Brazil’s exports to the US The tariffs could hit goods worth about $7.4 billion based on recent trade data. A separate 12.5 per cent tariff linked to alleged weak enforcement of forced-labour restrictions can apply to Brazilian products in some categories. Where the two measures overlap, duties can reach 37.5 per cent, affecting products such as certain sugar, apparel, paper and steel. Also read: Brazil denies visas to US officials amid fears of meddling in upcoming presidential election US-Brazil trade dispute becomes a political fight Brazil has called the US tariffs “unjustified and arbitrary” and pointed to the US goods trade surplus with Brazil. It said many US products already enter Brazil duty-free, while Brazil maintains a relatively low average applied tariff on US imports. Trump had previously threatened or announced tariffs of up to 50 per cent on some Brazilian goods, with some measures linked to US concerns over legal proceedings involving Jair Bolsonaro. Brazil’s Reciprocity Law was enacted in 2025 partly in response to such unilateral trade actions. It permits proportional countermeasures when foreign policies damage Brazil’s competitiveness. Visa disputes involving Brazilian and US diplomats have added to tensions. The two nations also fought over ambassadorial appointments and diplomatic access.

Brazil has opened a reciprocity process against US tariffs as President Lula seeks negotiations with Trump. Brazil is assessing retaliation while tensions grow over trade and the 2026 Brazil presidential election.

Trump tariffs: Lula activates Brazil’s reciprocity law while stopping short of immediate countermeasures

Wall Street climbed to a fresh record on Thursday as cooler-than-expected wholesale inflation eased concerns over another Federal Reserve interest rate hike, giving investors renewed confidence in U.S. markets.The S&amp;P 500 rose 0.65 per cent to close at a record 7,798.99, while the technology-heavy Nasdaq Composite gained 0.81 per cent. The Dow Jones Industrial Average edged 0.13 per cent higher. The S&amp;P 500 has gained roughly 14 per cent so far this year, according to Reuters.Also read | <a href="https://www.wionews.com/world/who-bears-responsibility-iran-wants-polluter-pays-rule-for-strait-of-hormuz-as-oil-slick-plagues-qeshm-1786582552036">'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm</a>The rally followed fresh data showing that inflationary pressures at the producer level were softer than economists had expected.According to the U.S. Bureau of Labor Statistics, the Producer Price Index, or PPI, was unchanged in July after falling a revised 0.1% in June.On an annual basis, producer prices rose 4.7 per cent, slowing from a 5.5 per cent increase in June. Prices for goods fell 0.7 per cent during July, while services prices increased 0.2 per cent.The PPI measures the prices that producers receive for goods and services and is closely watched for signs of inflation that could eventually be passed on to American consumers.Also read | <a href="https://www.wionews.com/world/new-eia-report-warns-strait-of-hormuz-disruptions-could-keep-pressure-on-global-oil-markets-1786594753362">EIA warns Strait of Hormuz disruptions could keep pressure on global oil markets</a>Also, according to the Bureau of Labor Statistics, consumer prices increased 3.4 per cent in the 12 months through July.Together, the reports have reduced expectations that the Federal Reserve will raise interest rates at its September meeting.Traders now see around a 35 per cent chance of a September rate hike, down from about 55 per cent a week earlier, according to Reuters. The Fed held its benchmark interest rate at a range of 3.50 per cent to 3.75 per cent at its July meeting.However, uncertainty remains over whether inflation is cooling quickly enough to bring it sustainably back toward the Fed’s 2 per cent target.For Wall Street, Thursday’s data provided some relief. Softer producer inflation reduced the immediate pressure on the Fed to raise rates, while optimism surrounding technology and artificial intelligence stocks helped propel the broader market to another record.&nbsp;

Wall Street hit fresh records as softer US producer inflation eased concerns over a September Fed rate hike and boosted investor confidence.

Wall Street climbed to a fresh record on Thursday as cooler-than-expected wholesale inflation eased concerns over another Federal Reserve interest rate hike, giving investors renewed confidence in U.S. markets. The S&P 500 rose 0.65 per cent to close at a record 7,798.99, while the technology-heavy Nasdaq Composite gained 0.81 per cent. The Dow Jones Industrial Average edged 0.13 per cent higher. The S&P 500 has gained roughly 14 per cent so far this year, according to Reuters. Also read | 'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm The rally followed fresh data showing that inflationary pressures at the producer level were softer than economists had expected. According to the U.S. Bureau of Labor Statistics, the Producer Price Index, or PPI, was unchanged in July after falling a revised 0.1% in June. On an annual basis, producer prices rose 4.7 per cent, slowing from a 5.5 per cent increase in June. Prices for goods fell 0.7 per cent during July, while services prices increased 0.2 per cent. The PPI measures the prices that producers receive for goods and services and is closely watched for signs of inflation that could eventually be passed on to American consumers. Also read | EIA warns Strait of Hormuz disruptions could keep pressure on global oil markets Also, according to the Bureau of Labor Statistics, consumer prices increased 3.4 per cent in the 12 months through July. Together, the reports have reduced expectations that the Federal Reserve will raise interest rates at its September meeting. Traders now see around a 35 per cent chance of a September rate hike, down from about 55 per cent a week earlier, according to Reuters. The Fed held its benchmark interest rate at a range of 3.50 per cent to 3.75 per cent at its July meeting. However, uncertainty remains over whether inflation is cooling quickly enough to bring it sustainably back toward the Fed’s 2 per cent target. For Wall Street, Thursday’s data provided some relief. Softer producer inflation reduced the immediate pressure on the Fed to raise rates, while optimism surrounding technology and artificial intelligence stocks helped propel the broader market to another record.

Wall Street hit fresh records as softer US producer inflation eased concerns over a September Fed rate hike and boosted investor confidence.

Wall Street hits record high as cooling US inflation reshapes Fed rate outlook

N Chandrasekaran has stepped down as chairman of Tata Sons. He ended his nearly decade-long tenure at the helm of the Tata Group, informing the Tata Sons board of his decision on Wednesday (August 12) and stating that he would not seek an extension when his current term ends in February 2027.&nbsp;Chandrasekaran took over as executive chairman of Tata Sons on February 21, 2017, following three decades at Tata Consultancy Services, where he had served as chief executive and managing director since 2009. Later, he was reappointed for a second five-year term in 2022. During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses. Chandrasekaran explained that his decision was prompted by the absence of unanimous support for extending his term by another five years. According to his statement, both the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously agreed to recommend extending his tenure for five years. The recommendation was also noted by the Tata Sons Nomination and Remuneration Committee and the board. The proposal was presented to the Tata Sons board on February 24, 2026, but did not go through, as one board member opposed the extension, Chandrasekaran said. Given the lack of unanimous backing, he decided to defer the matter. He added that although six months had passed since that board meeting, the issue remained unresolved.&nbsp;Also read: <a href="https://www.wionews.com/trending/new-dating-scam-x-user-claim-tinder-bumble-matches-in-bengaluru-targeted-with-cab-payment-fraud-1786603370312">New dating scam? X user claims Tinder, Bumble matches in Bengaluru targeted with cab-payment fraud</a><h3>N Chandrasekaran earning as Tata Sons chairman</h3>Tata Sons' FY26 annual report indicates that N Chandrasekaran has received Rs 158.66 crore in total remuneration, up from Rs 155.81 crore in FY25. The data shows that this remuneration was his highest annual since Tata Sons started disclosing executive compensation in FY22. His remuneration for FY26 included Rs 17.97 crore in salary and other benefits, along with Rs 140.69 crore in profit-linked commission, with the commission making up nearly 89 per cent of his total earnings. Across the five financial years from FY22 to FY26, Chandrasekaran's cumulative remuneration from Tata Sons stood at Rs 671.4 crore, based on the company's disclosed annual figures. Throughout his tenure, he has ranked among India's highest-paid corporate executives, with his pay reflecting the profit-linked structure of his compensation at Tata Sons.<h3>N Chandrasekaran's journey to chairman</h3>Chandrasekaran was born in 1963 in the Namakkal district of Tamil Nadu. He began his journey with the Tata Group as an intern at TCS in 1987, later he rose through the ranks to become CEO and then led TCS to global prominence before taking over Tata Sons in 2017. Under his leadership, the Tata Group expanded into aviation, semiconductors, electric vehicles, and manufacturing, while also significantly strengthening its financial standing. Tata Sons' net worth grew from Rs 45,586 crore in FY20 to approximately Rs 1.49 lakh crore in FY25. As his tenure draws to a close, Chandrasekaran leaves behind a legacy marked by major corporate expansion and robust financial growth, even though his own personal net worth remains undisclosed. &nbsp;

During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses.

N Chandrasekaran has stepped down as chairman of Tata Sons. He ended his nearly decade-long tenure at the helm of the Tata Group, informing the Tata Sons board of his decision on Wednesday (August 12) and stating that he would not seek an extension when his current term ends in February 2027. Chandrasekaran took over as executive chairman of Tata Sons on February 21, 2017, following three decades at Tata Consultancy Services, where he had served as chief executive and managing director since 2009. Later, he was reappointed for a second five-year term in 2022. During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses. Chandrasekaran explained that his decision was prompted by the absence of unanimous support for extending his term by another five years. According to his statement, both the Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously agreed to recommend extending his tenure for five years. The recommendation was also noted by the Tata Sons Nomination and Remuneration Committee and the board. The proposal was presented to the Tata Sons board on February 24, 2026, but did not go through, as one board member opposed the extension, Chandrasekaran said. Given the lack of unanimous backing, he decided to defer the matter. He added that although six months had passed since that board meeting, the issue remained unresolved. Also read: New dating scam? X user claims Tinder, Bumble matches in Bengaluru targeted with cab-payment fraud N Chandrasekaran earning as Tata Sons chairman Tata Sons' FY26 annual report indicates that N Chandrasekaran has received Rs 158.66 crore in total remuneration, up from Rs 155.81 crore in FY25. The data shows that this remuneration was his highest annual since Tata Sons started disclosing executive compensation in FY22. His remuneration for FY26 included Rs 17.97 crore in salary and other benefits, along with Rs 140.69 crore in profit-linked commission, with the commission making up nearly 89 per cent of his total earnings. Across the five financial years from FY22 to FY26, Chandrasekaran's cumulative remuneration from Tata Sons stood at Rs 671.4 crore, based on the company's disclosed annual figures. Throughout his tenure, he has ranked among India's highest-paid corporate executives, with his pay reflecting the profit-linked structure of his compensation at Tata Sons. N Chandrasekaran's journey to chairman Chandrasekaran was born in 1963 in the Namakkal district of Tamil Nadu. He began his journey with the Tata Group as an intern at TCS in 1987, later he rose through the ranks to become CEO and then led TCS to global prominence before taking over Tata Sons in 2017. Under his leadership, the Tata Group expanded into aviation, semiconductors, electric vehicles, and manufacturing, while also significantly strengthening its financial standing. Tata Sons' net worth grew from Rs 45,586 crore in FY20 to approximately Rs 1.49 lakh crore in FY25. As his tenure draws to a close, Chandrasekaran leaves behind a legacy marked by major corporate expansion and robust financial growth, even though his own personal net worth remains undisclosed.

During his tenure, the Tata Group made some of its most significant strategic moves, including the acquisition of Air India and its expansion into semiconductors, electronics, electric vehicles, batteries, and digital businesses.

Tata Sons Chairman N Chandrasekaran announces exit: Know his net worth and salary

A new U.S. government energy report is putting renewed focus on the Strait of Hormuz, as shipping through one of the world’s most important energy corridors remains constrained and uncertainty continues over how quickly oil flows will return to normal. The U.S. Energy Information Administration, or EIA, said in its latest Short-Term Energy Outlook that it expects severe constraints on shipping through the Strait of Hormuz to persist through August, before traffic gradually increases beginning in September. The agency said reduced shipments through the waterway are expected to further draw down global oil inventories in the coming months.Also read | <a href="https://www.wionews.com/world/who-bears-responsibility-iran-wants-polluter-pays-rule-for-strait-of-hormuz-as-oil-slick-plagues-qeshm-1786582552036">'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm</a> The assessment comes as President Donald Trump has said the United States has “total control” of the Strait, while administration officials have pointed to improvements in the movement of oil from the region. The administration has also disputed some estimates of how limited current shipping traffic remains. The EIA report, however, focuses primarily on the economic consequences of the disruption and the expected pace of recovery rather than the question of who controls the waterway. The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases and more oil production comes back online.Also read | <a href="https://www.wionews.com/world/us-sanctions-iran-s-crypto-network-after-strait-of-hormuz-attacks-offers-15m-bounty-for-intel-on-irgc-finance-1786150050092">US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance</a> For the full year, the EIA forecasts Brent crude at an average of approximately $87 per barrel in 2026. It expects prices to decline further in 2027, averaging around $69 per barrel as inventories rebuild and supplies recover. The Strait of Hormuz is particularly important because it connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, providing a crucial export route for major Middle Eastern energy producers. Disruptions there can therefore have consequences well beyond the region, affecting global oil supplies, shipping costs, and ultimately prices paid by consumers. The latest EIA outlook also suggests that some effects of the conflict could persist even after shipping conditions improve. Around 5.5 million barrels per day of Middle Eastern oil production was offline in July, equivalent to more than 5% of global oil consumption. Although much of that production is expected to return, the EIA forecasts that approximately 600,000 barrels per day could remain offline through the end of 2027 as some producers face difficulties restoring output to pre-conflict levels. The outlook represents another shift in expectations for an oil market that has changed rapidly as conditions around Hormuz have evolved. In July, the EIA had expected Brent to average about $74 per barrel during the third quarter. Its new forecast of roughly $85 illustrates how continued restrictions through the Strait have altered the supply picture. The central question now is how quickly normal commercial traffic can resume. The EIA expects conditions to begin improving in September, but its latest forecast makes clear that the economic consequences of the disruption could continue long after more ships begin moving through the Strait.&nbsp;

The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases.

A new U.S. government energy report is putting renewed focus on the Strait of Hormuz, as shipping through one of the world’s most important energy corridors remains constrained and uncertainty continues over how quickly oil flows will return to normal. The U.S. Energy Information Administration, or EIA, said in its latest Short-Term Energy Outlook that it expects severe constraints on shipping through the Strait of Hormuz to persist through August, before traffic gradually increases beginning in September. The agency said reduced shipments through the waterway are expected to further draw down global oil inventories in the coming months. Also read | 'Who bears responsibility?': Iran wants 'polluter pays' rule for Strait of Hormuz as oil slick plagues Qeshm The assessment comes as President Donald Trump has said the United States has “total control” of the Strait, while administration officials have pointed to improvements in the movement of oil from the region. The administration has also disputed some estimates of how limited current shipping traffic remains. The EIA report, however, focuses primarily on the economic consequences of the disruption and the expected pace of recovery rather than the question of who controls the waterway. The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases and more oil production comes back online. Also read | US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance For the full year, the EIA forecasts Brent crude at an average of approximately $87 per barrel in 2026. It expects prices to decline further in 2027, averaging around $69 per barrel as inventories rebuild and supplies recover. The Strait of Hormuz is particularly important because it connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, providing a crucial export route for major Middle Eastern energy producers. Disruptions there can therefore have consequences well beyond the region, affecting global oil supplies, shipping costs, and ultimately prices paid by consumers. The latest EIA outlook also suggests that some effects of the conflict could persist even after shipping conditions improve. Around 5.5 million barrels per day of Middle Eastern oil production was offline in July, equivalent to more than 5% of global oil consumption. Although much of that production is expected to return, the EIA forecasts that approximately 600,000 barrels per day could remain offline through the end of 2027 as some producers face difficulties restoring output to pre-conflict levels. The outlook represents another shift in expectations for an oil market that has changed rapidly as conditions around Hormuz have evolved. In July, the EIA had expected Brent to average about $74 per barrel during the third quarter. Its new forecast of roughly $85 illustrates how continued restrictions through the Strait have altered the supply picture. The central question now is how quickly normal commercial traffic can resume. The EIA expects conditions to begin improving in September, but its latest forecast makes clear that the economic consequences of the disruption could continue long after more ships begin moving through the Strait.

The agency now forecasts Brent crude oil to average around $85 per barrel during the third quarter of 2026, $11 per barrel higher than it projected just one month ago. The EIA expects prices to ease to around $78 per barrel in the fourth quarter as shipping increases.

New EIA report warns Strait of Hormuz disruptions could keep pressure on global oil markets

Tata Sons Chairman N Chandrasekaran has stepped down from the post on Wednesday (Aug 12). His current tenure ends in nearly six months on February 20, 2027. Chandrasekaran has decided to not offer himself for reappointment and his decision was announced ahead of the conglomerate's annual general meeting (AGM) scheduled for August 18. The development comes months after Tata Sons delayed a decision on his reappointment amid differences with Tata Trusts chairman Noel Tata over the group's future governance. The latest announcement by Chandrasekaran likely comes after a proposal for his re-appointment failed to pass because one board member withheld support. Chandrasekaran has spent 40 years with the Tata Group and has served as chairman of Tata Sons for the past decade.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/ratan-tata-once-said-he-wanted-to-be-remembered-as-his-words-have-now-gone-viral-766197">Ratan Tata once said he wanted 'to be remembered as...' His words have now gone viral</a><h2>What N Chandrasekaran said in his resignation letter?</h2>In a letter explaining the move to resign, N Chandrasekaran said that Sir Dorabji Tata Trust and Sir Ratan Tata Trust had recommended the extension of his tenure, but the proposal was vetoed by one of the board members, stalling his extension. "My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision. It has been 6 months since that Board meeting, and no resolution has been reached till date," he said.&nbsp;<figure class="image"><img src="https://pbs.twimg.com/media/HPgAL1-a4AAE8WN?format=png&amp;name=900x900" alt="Image"></figure>Also Read: <a href="https://www.wionews.com/india-news/who-is-noel-tata-the-likely-successor-of-the-tata-group-766231">Who is Noel Tata, the likely successor of Ratan Tata in the Tata Group?</a><h2>Share plummets&nbsp;</h2>Shares of Tata Group companies fell by as much as 4 per cent, after Chandrasekaran resigned. The decline was led by Tata Consultancy Services (TCS), the group's most valuable listed company. TCS shares dropped more than 4 per cent to Rs 2,322. Tata Motors Passenger Vehicles (TMPV) also declined 4 per cent, while Tata Consumer Products and Tata Power were each down about 2 per cent.<h2>Who will lead Tata Sons next?</h2>Chandrasekaran has requested the Tata Sons board to establish a succession plan soon to ensure a smooth transition. With Tata Trusts Chairman Noel Tata exercising stronger structural oversight, his three children - Neville Tata, Maya Tata and Leah Tata - have entered the spotlight as long-term leadership prospects.&nbsp;

N Chandrasekaran has stepped down as Tata Sons chairman and will not seek reappointment when his term ends in February 2027. He said his proposed five-year extension failed to secure unanimous board support. Chandrasekaran has led Tata Sons for nearly a decade.

Tata Sons Chairman N Chandrasekaran has stepped down from the post on Wednesday (Aug 12). His current tenure ends in nearly six months on February 20, 2027. Chandrasekaran has decided to not offer himself for reappointment and his decision was announced ahead of the conglomerate's annual general meeting (AGM) scheduled for August 18. The development comes months after Tata Sons delayed a decision on his reappointment amid differences with Tata Trusts chairman Noel Tata over the group's future governance. The latest announcement by Chandrasekaran likely comes after a proposal for his re-appointment failed to pass because one board member withheld support. Chandrasekaran has spent 40 years with the Tata Group and has served as chairman of Tata Sons for the past decade. Also Read: Ratan Tata once said he wanted 'to be remembered as...' His words have now gone viral What N Chandrasekaran said in his resignation letter? In a letter explaining the move to resign, N Chandrasekaran said that Sir Dorabji Tata Trust and Sir Ratan Tata Trust had recommended the extension of his tenure, but the proposal was vetoed by one of the board members, stalling his extension. "My current tenure as the Chairman of Tata Sons comes to an end on Feb 20, 2027. Sir Dorabji Tata Trust and Sir Ratan Tata Trust had unanimously resolved and recommended the extension of my next term for a period of five years, which was recorded and recommended by the Tata Sons Nomination and Remuneration Committee and the Board. Subsequently, the resolution was tabled in the Tata Sons Board on Feb 24, 2026. However, the proposal was not carried through because one of the Board Members did not support it, and in the absence of unanimous support, I chose to defer the decision. It has been 6 months since that Board meeting, and no resolution has been reached till date," he said. Also Read: Who is Noel Tata, the likely successor of Ratan Tata in the Tata Group? Share plummets Shares of Tata Group companies fell by as much as 4 per cent, after Chandrasekaran resigned. The decline was led by Tata Consultancy Services (TCS), the group's most valuable listed company. TCS shares dropped more than 4 per cent to Rs 2,322. Tata Motors Passenger Vehicles (TMPV) also declined 4 per cent, while Tata Consumer Products and Tata Power were each down about 2 per cent. Who will lead Tata Sons next? Chandrasekaran has requested the Tata Sons board to establish a succession plan soon to ensure a smooth transition. With Tata Trusts Chairman Noel Tata exercising stronger structural oversight, his three children - Neville Tata, Maya Tata and Leah Tata - have entered the spotlight as long-term leadership prospects.

N Chandrasekaran has stepped down as Tata Sons chairman and will not seek reappointment when his term ends in February 2027. He said his proposed five-year extension failed to secure unanimous board support. Chandrasekaran has led Tata Sons for nearly a decade.

N Chandrasekaran steps down as Tata Sons chairman, stocks tumble: Who will lead now

Brent crude futures and US crude futures both rose about 5 per cent on Monday as hope for a potential deal to open the Strait of Hormuz faltered. Oil prices briefly soared to $90 per barrel earlier Tuesday, hitting an intraday high of $90.02. Prices have since pared gains slightly to fluctuate between $87 and $89. Similarly, spot gold hit a two-month high earlier today, climbing above $4,400 an ounce for the first time since early June. The precious metal touched an intraday peak of $4,434.84 per ounce before paring some gains to trade in the $4,380 to $4,390 range.&nbsp;Iran has issued six strict preconditions for reopening the Strait of Hormuz. They want Washington to completely "correct its behaviour", no hostile language, absolute cessation of US and allied military aggression, Iran and its regional network across Lebanon, Palestine, Yemen, and Iraq; lifting of blockade and troop withdrawl, war reparation, removal of all "cruel and illegal" economic and political sanctions and asset release.US President Donald Trump responded to Iran's new demands of the reopening of the Strait of Hormuz, seeking compensation for the damages to US army and bases done by Iran.Also Read: <a href="https://www.wionews.com/india-news/tamil-nadu-assembly-anti-neet-resolution-centre-abolish-exam-1786446372416">NEET is against 'social justice, equality, and rights of states': Tamil Nadu Assembly passes anti-NEET resolution</a>“We’re going to ask for money for the damage they’ve done over a 50-year period. So if there’s damages to be paid, I think Iran should pay those damages,” said Trump.&nbsp;"So if there's damages to be paid, I think Iran should pay those damages,” and that “Also, with respect to the Iran negotiations, Iran should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!”The opening price of gold futures on Tuesday, August 11, 2026, was 0.6 per cent higher than Monday's opening price. This indicates that the precious metal is returning to its status of safe haven following a weak US labour report showing an unexpected loss of 23,000 jobs in July. The upcoming consumer price data due ​on Wednesday and producer price data on Thursday will provide further clues on the Fed's policy ​outlook. According to the CME FedWatch Tool. FEDWATCH on Monday, traders are currently pricing a 48 per cent chance of an interest-rate hike in September. An interest rate hike will put downward pressure on Gold prices.

Brent and US crude futures rose about 5% as hopes of reopening the Strait of Hormuz faded, while gold climbed above $4,400 following a weak US labour report.

Brent crude futures and US crude futures both rose about 5 per cent on Monday as hope for a potential deal to open the Strait of Hormuz faltered. Oil prices briefly soared to $90 per barrel earlier Tuesday, hitting an intraday high of $90.02. Prices have since pared gains slightly to fluctuate between $87 and $89. Similarly, spot gold hit a two-month high earlier today, climbing above $4,400 an ounce for the first time since early June. The precious metal touched an intraday peak of $4,434.84 per ounce before paring some gains to trade in the $4,380 to $4,390 range. Iran has issued six strict preconditions for reopening the Strait of Hormuz. They want Washington to completely "correct its behaviour", no hostile language, absolute cessation of US and allied military aggression, Iran and its regional network across Lebanon, Palestine, Yemen, and Iraq; lifting of blockade and troop withdrawl, war reparation, removal of all "cruel and illegal" economic and political sanctions and asset release. US President Donald Trump responded to Iran's new demands of the reopening of the Strait of Hormuz, seeking compensation for the damages to US army and bases done by Iran. Also Read: NEET is against 'social justice, equality, and rights of states': Tamil Nadu Assembly passes anti-NEET resolution “We’re going to ask for money for the damage they’ve done over a 50-year period. So if there’s damages to be paid, I think Iran should pay those damages,” said Trump. "So if there's damages to be paid, I think Iran should pay those damages,” and that “Also, with respect to the Iran negotiations, Iran should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!” The opening price of gold futures on Tuesday, August 11, 2026, was 0.6 per cent higher than Monday's opening price. This indicates that the precious metal is returning to its status of safe haven following a weak US labour report showing an unexpected loss of 23,000 jobs in July. The upcoming consumer price data due on Wednesday and producer price data on Thursday will provide further clues on the Fed's policy outlook. According to the CME FedWatch Tool. FEDWATCH on Monday, traders are currently pricing a 48 per cent chance of an interest-rate hike in September. An interest rate hike will put downward pressure on Gold prices.

Brent and US crude futures rose about 5% as hopes of reopening the Strait of Hormuz faded, while gold climbed above $4,400 following a weak US labour report.

Oil surges 5% as Iran-Hormuz deal falters; gold hits two-month high above $4,400

Mahindra Group has set up a new aersopace company called Novavayu Aerospace Limited to manufacture aircraft, advanced aerospace products, and systems. It was officially registered on July 30, under the Ministry of Corporate Affairs, with its headquarters in Mumbai. It has been incorporated with an initial authorised share capital of ₹1 crore. &nbsp;Novavayu is a wholly owned subsidiary of the Mahindra Defence Systems which is owned by Mahindra Technologies which is itself wholly owned by Mahindra &amp; Mahindra. The official regulatory filing specify that the company will cater to the defence aviation segment. Mahindra has said that Novavayu will design an aircraft independently, assemble one with overseas partner and manufacture parts and major structures for an existing partner.The group already has a footprint in the aersopace manufacturing. This development marks a massive strategic shift for Mahindra from a precision components supplier to a full-scale aerial platform manufacture. Mahindra Aerostructures operates a large manufacturing plant near Bengaluru and produces aircraft parts, sub-assemblies and larger structures for global aircraft manufacturers. Aerostructures are physical structures that form part of an aircraft.Its work includes contracts to manufacture the main fuselages of the Airbus H130 and H125 light helicopters. The first H130 cabin assembly is scheduled for delivery to Airbus in March 2027. The H125 fuselage programme is also targeted to begin deliveries in 2027.Mahindra has signed a strategic corporation agreement with Brazil’s Embraer in October 2025 for the C-390 Millennium military transport aircraft. The proposal is aimed at the Air Force's Medium Transport Aircraft programme, includes the possibility of local manufacturing, assembly, supply-chain development and maintenance support.

Mahindra Group has incorporated Novavayu Aerospace Limited to design and manufacture aircraft, aerospace products and defence aviation systems in India.

Mahindra Group has set up a new aersopace company called Novavayu Aerospace Limited to manufacture aircraft, advanced aerospace products, and systems. It was officially registered on July 30, under the Ministry of Corporate Affairs, with its headquarters in Mumbai. It has been incorporated with an initial authorised share capital of ₹1 crore. Novavayu is a wholly owned subsidiary of the Mahindra Defence Systems which is owned by Mahindra Technologies which is itself wholly owned by Mahindra & Mahindra. The official regulatory filing specify that the company will cater to the defence aviation segment. Mahindra has said that Novavayu will design an aircraft independently, assemble one with overseas partner and manufacture parts and major structures for an existing partner. The group already has a footprint in the aersopace manufacturing. This development marks a massive strategic shift for Mahindra from a precision components supplier to a full-scale aerial platform manufacture. Mahindra Aerostructures operates a large manufacturing plant near Bengaluru and produces aircraft parts, sub-assemblies and larger structures for global aircraft manufacturers. Aerostructures are physical structures that form part of an aircraft. Its work includes contracts to manufacture the main fuselages of the Airbus H130 and H125 light helicopters. The first H130 cabin assembly is scheduled for delivery to Airbus in March 2027. The H125 fuselage programme is also targeted to begin deliveries in 2027. Mahindra has signed a strategic corporation agreement with Brazil’s Embraer in October 2025 for the C-390 Millennium military transport aircraft. The proposal is aimed at the Air Force's Medium Transport Aircraft programme, includes the possibility of local manufacturing, assembly, supply-chain development and maintenance support.

Mahindra Group has incorporated Novavayu Aerospace Limited to design and manufacture aircraft, aerospace products and defence aviation systems in India.

Mahindra Group Sets Up Novavayu Aerospace for Aircraft Manufacturing

Finance Minister Nirmala Sitharaman on Thursday (Aug 6) dismissed Congress leader Jairam Ramesh's claim that ordinary users could end up paying for UPI transactions. In a post on X, the Congress leader had claimed that with the Modi government's Taxation and Other Laws (Amendment) Bill, 2026, "eliminates the statutory guarantee that had so far kept UPI transactions fee-free". He alleged that "The burden of this will ultimately fall on ordinary people, who may now have to pay even for using UPI".Replying to Ramesh's X post, Indian FM Sitharaman clarified that any Merchant Discount Rate (MDR), if introduced in the future, would be charged only to merchants and not to customers.The exchange comes amid a political debate over the Taxation and Other Laws (Amendment) Bill, 2026, which seeks to give the Centre the legal authority to modify the existing zero-MDR framework for UPI and RuPay transactions.Also read | <a href="https://www.wionews.com/business-economy/government-reveals-scale-of-bank-fraud-54-accused-fled-india-ed-launches-global-hunt-1785917330019">Government reveals scale of bank fraud: 54 accused fled India, ED launches global hunt</a><h2>Sitharaman: MDR is for merchants, not customers</h2>Responding to Jairam Ramesh on X, Sitharaman said his claim was misleading and urged him not to spread misinformation. "Before spreading a canard, @Jairam_Ramesh ji, please consider this: Merchant Discount Rate (MDR) applies only on the merchants and not on the end users/customers. It will support the Banks &amp; Fintech to invest more on infrastructure, innovation &amp; security. All users of UPI will reap the benefits of this investment," she wrote.The finance minister said the objective of MDR is to strengthen India's digital payments ecosystem by enabling banks and fintech companies to invest more in infrastructure, innovation and cybersecurity.<h2>No decision yet on imposing MDR</h2>Sitharaman also clarified that the government has not taken any decision to introduce an MDR on UPI transactions.She said the issue would be examined by the UPI and Services Steering Committee, headed by the National Payments Corporation of India (NPCI), only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026.The proposed legislation authorises the Centre to specify which electronic payment modes or transactions will remain free of charge. According to the finance minister, any discussion on merchant fees will take place only after the Bill becomes law.Also read | <a href="https://www.wionews.com/india-news/i-can-t-bring-your-son-back-assam-cm-meets-family-of-boy-who-died-saving-pet-dog-from-floods-1785994667567">'I can't bring your son back': Assam CM meets family of boy who died saving pet dog from floods</a><h2>What did Jairam Ramesh say?</h2>Earlier, Congress leader Jairam Ramesh argued that even if the Merchant Discount Rate is levied on merchants, the cost would ultimately be passed on to consumers.He also rejected the government's position that introducing MDR is necessary to make the UPI ecosystem financially sustainable, describing the argument as "entirely wrong."Sitharaman, however, maintained that customers would not be required to pay the merchant fee.<h2>FM blames Opposition for delay in debate</h2>The finance minister also criticised the Opposition for repeated disruptions during the ongoing Monsoon Session, saying the proposed legislation could have been debated in Parliament had proceedings not been stalled. "Could have been discussed on the floor of the House if your party @INCIndia engages constructively in Parliament when the Bill was/is tabled. (LS/RS respectively)," she wrote.The Bill itself does not impose an MDR on UPI or RuPay transactions. Instead, it creates a legal framework that would allow the government to modify the current zero-MDR regime through a notification at a later stage.

Could your next UPI payment come with a fee? The claim has sparked a political showdown between the BJP and the opposition Congress party. Now, Finance Minister Nirmala Sitharaman has finally broken her silence. Here' what she said.

Finance Minister Nirmala Sitharaman on Thursday (Aug 6) dismissed Congress leader Jairam Ramesh's claim that ordinary users could end up paying for UPI transactions. In a post on X, the Congress leader had claimed that with the Modi government's Taxation and Other Laws (Amendment) Bill, 2026, "eliminates the statutory guarantee that had so far kept UPI transactions fee-free". He alleged that "The burden of this will ultimately fall on ordinary people, who may now have to pay even for using UPI". Replying to Ramesh's X post, Indian FM Sitharaman clarified that any Merchant Discount Rate (MDR), if introduced in the future, would be charged only to merchants and not to customers. The exchange comes amid a political debate over the Taxation and Other Laws (Amendment) Bill, 2026, which seeks to give the Centre the legal authority to modify the existing zero-MDR framework for UPI and RuPay transactions. Also read | Government reveals scale of bank fraud: 54 accused fled India, ED launches global hunt Sitharaman: MDR is for merchants, not customers Responding to Jairam Ramesh on X, Sitharaman said his claim was misleading and urged him not to spread misinformation. "Before spreading a canard, @Jairam_Ramesh ji, please consider this: Merchant Discount Rate (MDR) applies only on the merchants and not on the end users/customers. It will support the Banks & Fintech to invest more on infrastructure, innovation & security. All users of UPI will reap the benefits of this investment," she wrote. The finance minister said the objective of MDR is to strengthen India's digital payments ecosystem by enabling banks and fintech companies to invest more in infrastructure, innovation and cybersecurity. No decision yet on imposing MDR Sitharaman also clarified that the government has not taken any decision to introduce an MDR on UPI transactions. She said the issue would be examined by the UPI and Services Steering Committee, headed by the National Payments Corporation of India (NPCI), only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026. The proposed legislation authorises the Centre to specify which electronic payment modes or transactions will remain free of charge. According to the finance minister, any discussion on merchant fees will take place only after the Bill becomes law. Also read | 'I can't bring your son back': Assam CM meets family of boy who died saving pet dog from floods What did Jairam Ramesh say? Earlier, Congress leader Jairam Ramesh argued that even if the Merchant Discount Rate is levied on merchants, the cost would ultimately be passed on to consumers. He also rejected the government's position that introducing MDR is necessary to make the UPI ecosystem financially sustainable, describing the argument as "entirely wrong." Sitharaman, however, maintained that customers would not be required to pay the merchant fee. FM blames Opposition for delay in debate The finance minister also criticised the Opposition for repeated disruptions during the ongoing Monsoon Session, saying the proposed legislation could have been debated in Parliament had proceedings not been stalled. "Could have been discussed on the floor of the House if your party @INCIndia engages constructively in Parliament when the Bill was/is tabled. (LS/RS respectively)," she wrote. The Bill itself does not impose an MDR on UPI or RuPay transactions. Instead, it creates a legal framework that would allow the government to modify the current zero-MDR regime through a notification at a later stage.

Could your next UPI payment come with a fee? The claim has sparked a political showdown between the BJP and the opposition Congress party. Now, Finance Minister Nirmala Sitharaman has finally broken her silence. Here' what she said.

Will ordinary Indian users have to pay for UPI? Nirmala Sitharaman breaks silence on Congress' MDR fee claim

China's humanoid robotics industry is about to face its biggest market test yet. Unitree Robotics, one of the country's best-known robot makers, is preparing for an initial public offering (IPO) that values the company at 60.99 billion yuan (about $9 billion). The listing is being closely watched because it could set the benchmark for how investors value the next generation of AI-powered robotics firms. The Hangzhou-based company plans to raise 6.1 billion yuan by selling 40.45 million shares on Shanghai's STAR Market. The IPO has attracted heavyweight investors including DeepSeek, Tencent, China Telecom, Citic Securities and several state-backed institutions.<h2>Why Unitree's IPO matters</h2>The listing is widely seen as mainland China's first major humanoid robotics IPO. Analysts believe it could become the reference point for dozens of robotics startups preparing to go public. DeepSeek invested 141 million yuan in the company under a three-year lock-up agreement. The two companies also plan to jointly develop AI models and embodied intelligence technologies while giving each other priority access to AI services and robotics products. Industry experts say the valuation could effectively become the "ceiling" for many competing embodied AI startups unless they can demonstrate stronger commercial success.<h2>A profitable robotics company in a crowded market</h2>Unlike many robotics startups that are still burning cash, Unitree is already profitable. According to its prospectus, the company generated 1.7 billion yuan in revenue and 591 million yuan in adjusted net profit last year. Even so, investors are paying a premium. The IPO values Unitree at around 219 times earnings and nearly 36 times sales, significantly above several listed robotics rivals. The strong pricing reflects growing optimism that humanoid robots could become one of AI's next major commercial opportunities, following the rapid rise of generative AI.<h2>Investor excitement meets valuation concerns</h2>Retail demand for the IPO remains strong despite concerns that valuations across China's robotics industry may be running ahead of fundamentals. Several startups including Deep Robotics, AgiBot, Leju Robotics, X Square Robot and LimX Dynamics are also preparing public listings as venture funding pours into embodied AI. Analysts say Unitree's success or failure could influence fundraising across the entire sector. While short-term enthusiasm remains high, many believe long-term valuations will ultimately depend on one factor: whether humanoid robots can move beyond demonstrations and achieve large-scale commercial adoption.

Unitree Robotics is preparing a landmark $9 billion IPO backed by DeepSeek, Tencent and state investors. The profitable humanoid robot maker could set the valuation benchmark for China's booming embodied AI industry as investors bet on the next wave of artificial intelligence.

China's humanoid robotics industry is about to face its biggest market test yet. Unitree Robotics, one of the country's best-known robot makers, is preparing for an initial public offering (IPO) that values the company at 60.99 billion yuan (about $9 billion). The listing is being closely watched because it could set the benchmark for how investors value the next generation of AI-powered robotics firms. The Hangzhou-based company plans to raise 6.1 billion yuan by selling 40.45 million shares on Shanghai's STAR Market. The IPO has attracted heavyweight investors including DeepSeek, Tencent, China Telecom, Citic Securities and several state-backed institutions. Why Unitree's IPO matters The listing is widely seen as mainland China's first major humanoid robotics IPO. Analysts believe it could become the reference point for dozens of robotics startups preparing to go public. DeepSeek invested 141 million yuan in the company under a three-year lock-up agreement. The two companies also plan to jointly develop AI models and embodied intelligence technologies while giving each other priority access to AI services and robotics products. Industry experts say the valuation could effectively become the "ceiling" for many competing embodied AI startups unless they can demonstrate stronger commercial success. A profitable robotics company in a crowded market Unlike many robotics startups that are still burning cash, Unitree is already profitable. According to its prospectus, the company generated 1.7 billion yuan in revenue and 591 million yuan in adjusted net profit last year. Even so, investors are paying a premium. The IPO values Unitree at around 219 times earnings and nearly 36 times sales, significantly above several listed robotics rivals. The strong pricing reflects growing optimism that humanoid robots could become one of AI's next major commercial opportunities, following the rapid rise of generative AI. Investor excitement meets valuation concerns Retail demand for the IPO remains strong despite concerns that valuations across China's robotics industry may be running ahead of fundamentals. Several startups including Deep Robotics, AgiBot, Leju Robotics, X Square Robot and LimX Dynamics are also preparing public listings as venture funding pours into embodied AI. Analysts say Unitree's success or failure could influence fundraising across the entire sector. While short-term enthusiasm remains high, many believe long-term valuations will ultimately depend on one factor: whether humanoid robots can move beyond demonstrations and achieve large-scale commercial adoption.

Unitree Robotics is preparing a landmark $9 billion IPO backed by DeepSeek, Tencent and state investors. The profitable humanoid robot maker could set the valuation benchmark for China's booming embodied AI industry as investors bet on the next wave of artificial intelligence.

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

The Comptroller and Auditor General of India has found seven states with off-budget borrowing, incorrectly classified expenditure, untransferred cesses and other unpaid obligations to make their budget look healthier than reality. The real financial position of these states was worse than what the official numbers showed.&nbsp;The report found that Maharashtra and West Bengal seem to have managed to keep their fiscal deficits within their respective limits in 2024-25. Meanwhile, the revenue deficit of Bihar increased nearly sevenfold after audit adjustments, and Chhattisgarh’s doubled. In addition, Gujarat retained a revenue surplus; however, it was almost Rs 12,000 crore smaller than its originally indicated Finance Accounts.<h3>Fiscal deficit of seven states</h3>Maharashtra was found to have a fiscal deficit of Rs 1,24,208.74 crore, marking 2.74 per cent of its gross state domestic product, or GSDP. The Maharashtra report of the CAG increased the deficit by Rs 20,717.72 crore to Rs 1,44,926.46 crore, showing 3.20 per cent of GSDP. The biggest adjustment rose from Rs 18,440 crore borrowed during 2024-25 through the Maharashtra State Road Development Corporation. The loans carried a state guarantee, and their principal and interest were supposed to be met through budgetary provisions.&nbsp;Bihar's Finance Accounts showed a revenue deficit of just Rs 357.38 crore, but the CAG recalculated this figure to Rs 2,500.81 crore in its Bihar report. This revision stemmed from revenue expenditure wrongly booked as capital expenditure, along with shortfalls or non-transfers of funds to the National Pension System, Single Nodal Agency accounts, and funds meant for construction workers, road safety, and mineral exploration.&nbsp;As a result, Bihar's revenue deficit rose from 0.04 per cent to 0.25 per cent of GSDP after the audit. Its fiscal deficit, already exceeding the prescribed target, climbed further too, from 4.16 per cent per the Finance Accounts to 4.37 per cent on a post-audit basis.&nbsp;Also read: <a href="https://www.wionews.com/india-news/up-gangster-atiq-ahmed-s-son-on-way-to-meet-jailed-brother-killed-in-road-accident-in-jhansi-1786002698869">UP gangster Atiq Ahmed's son, on way to meet jailed brother, killed in road accident in Jhansi</a>&nbsp;Chhattisgarh had reported a revenue deficit of Rs 5,099.47 crore, which the CAG revised upward to Rs 10,245.83 crore. This change was mainly driven by Rs 1,234.79 crore in revenue expenditure misclassified as capital expenditure, plus Rs 3,912.32 crore in off-budget borrowing repayments that were recorded as capital spending. Gujarat's Finance Accounts had shown a revenue surplus of Rs 18,942.94 crore, but CAG adjustments cut this down to Rs 7,013.97 crore, a drop of Rs 11,928.97 crore, or nearly 63 per cent.&nbsp;West Bengal had reported a fiscal deficit of Rs 61,924 crore, or 3.41 per cent of GSDP, staying within its 3.50 percent limit. However, once untransferred cess, the non-recoupment of the Contingency Fund, and other adjustments were factored in, the CAG's post-audit figure rose to Rs 63,739.23 crore, or 3.51 per cent of GSDP.&nbsp;On the other hand, the CAG raised Karnataka's revenue deficit from Rs 20,834 crore to Rs 22,843 crore, citing misclassified capital expenditure and unpaid interest. Kerala's fiscal deficit rose from Rs 48,248.14 crore (3.86 per cent of GSDP) to Rs 48,510.20 crore (3.89 per cent). The audit flagged Rs 39,230.33 crore in off-budget borrowings via KIIFB and KSSPL, excluded from Kerala's reported Rs 4.46 lakh crore liabilities (35.71 per cent of GSDP); including them would push the ratio to 38.86 per cent.

Bihar's revenue deficit rose from 0.04 per cent to 0.25 per cent of GSDP after the audit. Its fiscal deficit, already exceeding the prescribed target, climbed further too, from 4.16 per cent per the Finance Accounts to 4.37 per cent on a post-audit basis.

The Comptroller and Auditor General of India has found seven states with off-budget borrowing, incorrectly classified expenditure, untransferred cesses and other unpaid obligations to make their budget look healthier than reality. The real financial position of these states was worse than what the official numbers showed. The report found that Maharashtra and West Bengal seem to have managed to keep their fiscal deficits within their respective limits in 2024-25. Meanwhile, the revenue deficit of Bihar increased nearly sevenfold after audit adjustments, and Chhattisgarh’s doubled. In addition, Gujarat retained a revenue surplus; however, it was almost Rs 12,000 crore smaller than its originally indicated Finance Accounts. Fiscal deficit of seven states Maharashtra was found to have a fiscal deficit of Rs 1,24,208.74 crore, marking 2.74 per cent of its gross state domestic product, or GSDP. The Maharashtra report of the CAG increased the deficit by Rs 20,717.72 crore to Rs 1,44,926.46 crore, showing 3.20 per cent of GSDP. The biggest adjustment rose from Rs 18,440 crore borrowed during 2024-25 through the Maharashtra State Road Development Corporation. The loans carried a state guarantee, and their principal and interest were supposed to be met through budgetary provisions. Bihar's Finance Accounts showed a revenue deficit of just Rs 357.38 crore, but the CAG recalculated this figure to Rs 2,500.81 crore in its Bihar report. This revision stemmed from revenue expenditure wrongly booked as capital expenditure, along with shortfalls or non-transfers of funds to the National Pension System, Single Nodal Agency accounts, and funds meant for construction workers, road safety, and mineral exploration. As a result, Bihar's revenue deficit rose from 0.04 per cent to 0.25 per cent of GSDP after the audit. Its fiscal deficit, already exceeding the prescribed target, climbed further too, from 4.16 per cent per the Finance Accounts to 4.37 per cent on a post-audit basis. Also read: UP gangster Atiq Ahmed's son, on way to meet jailed brother, killed in road accident in Jhansi Chhattisgarh had reported a revenue deficit of Rs 5,099.47 crore, which the CAG revised upward to Rs 10,245.83 crore. This change was mainly driven by Rs 1,234.79 crore in revenue expenditure misclassified as capital expenditure, plus Rs 3,912.32 crore in off-budget borrowing repayments that were recorded as capital spending. Gujarat's Finance Accounts had shown a revenue surplus of Rs 18,942.94 crore, but CAG adjustments cut this down to Rs 7,013.97 crore, a drop of Rs 11,928.97 crore, or nearly 63 per cent. West Bengal had reported a fiscal deficit of Rs 61,924 crore, or 3.41 per cent of GSDP, staying within its 3.50 percent limit. However, once untransferred cess, the non-recoupment of the Contingency Fund, and other adjustments were factored in, the CAG's post-audit figure rose to Rs 63,739.23 crore, or 3.51 per cent of GSDP. On the other hand, the CAG raised Karnataka's revenue deficit from Rs 20,834 crore to Rs 22,843 crore, citing misclassified capital expenditure and unpaid interest. Kerala's fiscal deficit rose from Rs 48,248.14 crore (3.86 per cent of GSDP) to Rs 48,510.20 crore (3.89 per cent). The audit flagged Rs 39,230.33 crore in off-budget borrowings via KIIFB and KSSPL, excluded from Kerala's reported Rs 4.46 lakh crore liabilities (35.71 per cent of GSDP); including them would push the ratio to 38.86 per cent.

Bihar's revenue deficit rose from 0.04 per cent to 0.25 per cent of GSDP after the audit. Its fiscal deficit, already exceeding the prescribed target, climbed further too, from 4.16 per cent per the Finance Accounts to 4.37 per cent on a post-audit basis.

Seven states’ revenue deficits higher than reported, CAG finds; Bihar up 7x, Chhattisgarh doubles

Every month, we make an investment from our earned salary in SIP, fixed deposit, gold, or equities, medical insurance and other national pension schemes to secure our future. Would you set aside Rs 100 or Rs 200 a month if that money could help educate a child, skill a young job seeker, support a rural entrepreneur, or improve healthcare for underserved communities? Most of us, at one time or another, have felt the urge to support someone in our lives, perhaps a domestic worker trying to fund her children's education, a security guard putting in long hours to provide for his family, or a promising student who just needs a fair shot. But between EMIs, household bills, and other financial obligations, we always think that real impact requires a large financial outlay. Yet what if modest, affordable contributions, directed through trustworthy and transparent platforms, could add up to create meaningful, lasting social change? As we know, over the past few years India has seen an unprecedented rise in retail investing. Millions of first-time investors are seen getting quite comfortable with digital investing and long-term wealth creation. In order to create measurable social impact through transparent regulated platforms, now Indians can easily invest in the Social Stock Exchange (SSE).<h2>What is Social Stock Exchange (SSE)?</h2>It is an electronic fund-raising platform that brings together social enterprises and donors towards the realisation of a social welfare objective through accessible, transparent opportunities for underserved communities, fostering economic empowerment and growth through seamless integration with NSE and BSE." Unlike traditional donations, the Social Stock Exchange (SSE) brings governance, disclosure, accountability, and impact to eligible non-profit organisations. It allows citizens to support authenticated organisations covering sectors like education, employability, healthcare, women empowerment, rural livelihoods, and climate resilience.<h2>How is SSE redefining retail investors?</h2>Ramesh Daswani, CEO, Light of Life Trust, stated that Social Stock Exchange (SSE) gives an opportunity to invest not only in organisations, but also in solutions. Citizens can also participate in a transparent and accountable ecosystem while supporting critical areas, providing purposeful participation. "Traditionally, we have measured the success of an investment by the financial returns it generates. The Social Stock Exchange challenges us to think differently. It gives citizens the opportunity to invest not only in organisations, but in solutions—and, ultimately, in the future of India. For the first time, ordinary citizens, retail investors, philanthropists and institutions can participate in a transparent and accountable ecosystem supporting critical areas such as education, healthcare, skilling and livelihoods. This is a significant shift from passive giving to purposeful participation," Ramesh Daswani said. "The Social Stock Exchange has the potential to transform the way India approaches philanthropy and social development. It can bring together capital, accountability and compassion, enabling citizens to become active nation-builders and partners in solving some of the country’s most pressing challenges. The true success of the Social Stock Exchange will not be measured merely by the funds raised or the number of investments made. It will be measured by the children who return to school, the young people who gain skills and livelihoods, the families whose lives are improved, and the communities that are transformed. In the world of conventional investments, success is measured in returns. On the Social Stock Exchange, the ultimate return is a life transformed," Ramesh Daswani added.&nbsp;Also read: <a href="https://www.wionews.com/world/why-did-india-turn-down-the-us-offer-for-f-35-fighter-jets-explained-1785757348908">Why did India turn down the US offer for F-35 fighter jets? EXPLAINED</a> Highlighting India's strong culture of investing, Dr Ketan Deshpande, Founder &amp; Chairman of FUEL (Friends Union for Energising Lives), said, "India has built a strong culture of investing, with over 23 crore demat accounts reflecting the growing confidence of retail investors in the country's financial markets. At the same time, Indian companies have invested over Rs 34,900 crore in CSR in FY 2023–24, demonstrating the country's commitment to social development. The next step is to connect these two ecosystems." Deshpande added that the Social Stock Exchange offers a transparent and trustworthy way for retail investors to assist verified non-profit organisations working across education, healthcare, skilling, livelihoods, and other critical sectors. Even if just a small share of India's retail investors get involved, it could free up substantial funding for the social sector. In effect, the Social Stock Exchange could turn ordinary citizens from return-seeking investors into active contributors to nation-building. Anuja Kishore, Chief Strategy and Transformation Officer of Lighthouse Communities Foundation, highlighted that India is a diverse country with complex social challenges; however, it is also marked as one of the world's most compassionate societies, having a longer tradition of giving. He added that currently, with nearly 22 crore demat accounts, there is an unprecedented opportunity to democratise philanthropy by allowing millions of citizens to participate in creating measurable social impact. "Investors must know that no problem can be solved by a single institution, whether it's government, a private company or an NGO, and the fact that giving is an important civic responsibility. The SSE enables retail investors to collectively contribute to large-scale social missions that would otherwise be beyond the capacity of any one individual to fund. For example, interventions such as building youth aspirations, strengthening city-wide livelihood ecosystems or creating pathways to employment often require investments running into lakhs and crores. Through SSE, like-minded citizens can pool their contributions on a transparency-and-regulation-first platform, and enable credible, mission-driven organisations and programs. This is driven by their choice, and citizens become active participants in nation building," she said. "Additionally, over time, SSE has the potential to strengthen trust in the social sector, promote evidence-based giving, and generate value for both investors and NGOs. To realise this vision, however, we must build awareness about the SSE platform and the significance of social return on investment, beyond the narrative of donations to causes," Kishore added.<h2>Make citizens nation builders</h2>Nixon Joseph, Group Executive Director, DEVI Sansthan, underscored that SSE has the potential to do something equally transformative, democratising social impact. This helps ordinary citizens to become nation builders by supporting credible, transparent, and accountable non-profit organisations working in education, healthcare, skilling, livelihoods, and other critical development areas. "India has successfully democratized wealth creation by bringing millions of retail investors into the capital markets. The Social Stock Exchange (SSE) has the potential to do something equally transformative; it can democratise social impact. Every investment becomes an opportunity to create measurable social change alongside financial participation in nation-building," Joseph said. "The SSE bridges the trust gap by ensuring regulatory oversight, transparency, and impact reporting. It empowers citizens to move beyond charity and become informed contributors to India’s development journey. If India’s growth story is to be truly inclusive, the Social Stock Exchange can enable every retail investor to participate not just in building wealth, but in building the nation itself," she added.

The SSE brings governance, disclosure, accountability, and impact to eligible non-profit organisations. It allows citizens to support authenticated organisations covering sectors like education, employability, healthcare, women's empowerment, rural livelihoods, and climate resilience.

Every month, we make an investment from our earned salary in SIP, fixed deposit, gold, or equities, medical insurance and other national pension schemes to secure our future. Would you set aside Rs 100 or Rs 200 a month if that money could help educate a child, skill a young job seeker, support a rural entrepreneur, or improve healthcare for underserved communities? Most of us, at one time or another, have felt the urge to support someone in our lives, perhaps a domestic worker trying to fund her children's education, a security guard putting in long hours to provide for his family, or a promising student who just needs a fair shot. But between EMIs, household bills, and other financial obligations, we always think that real impact requires a large financial outlay. Yet what if modest, affordable contributions, directed through trustworthy and transparent platforms, could add up to create meaningful, lasting social change? As we know, over the past few years India has seen an unprecedented rise in retail investing. Millions of first-time investors are seen getting quite comfortable with digital investing and long-term wealth creation. In order to create measurable social impact through transparent regulated platforms, now Indians can easily invest in the Social Stock Exchange (SSE). What is Social Stock Exchange (SSE)? It is an electronic fund-raising platform that brings together social enterprises and donors towards the realisation of a social welfare objective through accessible, transparent opportunities for underserved communities, fostering economic empowerment and growth through seamless integration with NSE and BSE." Unlike traditional donations, the Social Stock Exchange (SSE) brings governance, disclosure, accountability, and impact to eligible non-profit organisations. It allows citizens to support authenticated organisations covering sectors like education, employability, healthcare, women empowerment, rural livelihoods, and climate resilience. How is SSE redefining retail investors? Ramesh Daswani, CEO, Light of Life Trust, stated that Social Stock Exchange (SSE) gives an opportunity to invest not only in organisations, but also in solutions. Citizens can also participate in a transparent and accountable ecosystem while supporting critical areas, providing purposeful participation. "Traditionally, we have measured the success of an investment by the financial returns it generates. The Social Stock Exchange challenges us to think differently. It gives citizens the opportunity to invest not only in organisations, but in solutions—and, ultimately, in the future of India. For the first time, ordinary citizens, retail investors, philanthropists and institutions can participate in a transparent and accountable ecosystem supporting critical areas such as education, healthcare, skilling and livelihoods. This is a significant shift from passive giving to purposeful participation," Ramesh Daswani said. "The Social Stock Exchange has the potential to transform the way India approaches philanthropy and social development. It can bring together capital, accountability and compassion, enabling citizens to become active nation-builders and partners in solving some of the country’s most pressing challenges. The true success of the Social Stock Exchange will not be measured merely by the funds raised or the number of investments made. It will be measured by the children who return to school, the young people who gain skills and livelihoods, the families whose lives are improved, and the communities that are transformed. In the world of conventional investments, success is measured in returns. On the Social Stock Exchange, the ultimate return is a life transformed," Ramesh Daswani added. Also read: Why did India turn down the US offer for F-35 fighter jets? EXPLAINED Highlighting India's strong culture of investing, Dr Ketan Deshpande, Founder & Chairman of FUEL (Friends Union for Energising Lives), said, "India has built a strong culture of investing, with over 23 crore demat accounts reflecting the growing confidence of retail investors in the country's financial markets. At the same time, Indian companies have invested over Rs 34,900 crore in CSR in FY 2023–24, demonstrating the country's commitment to social development. The next step is to connect these two ecosystems." Deshpande added that the Social Stock Exchange offers a transparent and trustworthy way for retail investors to assist verified non-profit organisations working across education, healthcare, skilling, livelihoods, and other critical sectors. Even if just a small share of India's retail investors get involved, it could free up substantial funding for the social sector. In effect, the Social Stock Exchange could turn ordinary citizens from return-seeking investors into active contributors to nation-building. Anuja Kishore, Chief Strategy and Transformation Officer of Lighthouse Communities Foundation, highlighted that India is a diverse country with complex social challenges; however, it is also marked as one of the world's most compassionate societies, having a longer tradition of giving. He added that currently, with nearly 22 crore demat accounts, there is an unprecedented opportunity to democratise philanthropy by allowing millions of citizens to participate in creating measurable social impact. "Investors must know that no problem can be solved by a single institution, whether it's government, a private company or an NGO, and the fact that giving is an important civic responsibility. The SSE enables retail investors to collectively contribute to large-scale social missions that would otherwise be beyond the capacity of any one individual to fund. For example, interventions such as building youth aspirations, strengthening city-wide livelihood ecosystems or creating pathways to employment often require investments running into lakhs and crores. Through SSE, like-minded citizens can pool their contributions on a transparency-and-regulation-first platform, and enable credible, mission-driven organisations and programs. This is driven by their choice, and citizens become active participants in nation building," she said. "Additionally, over time, SSE has the potential to strengthen trust in the social sector, promote evidence-based giving, and generate value for both investors and NGOs. To realise this vision, however, we must build awareness about the SSE platform and the significance of social return on investment, beyond the narrative of donations to causes," Kishore added. Make citizens nation builders Nixon Joseph, Group Executive Director, DEVI Sansthan, underscored that SSE has the potential to do something equally transformative, democratising social impact. This helps ordinary citizens to become nation builders by supporting credible, transparent, and accountable non-profit organisations working in education, healthcare, skilling, livelihoods, and other critical development areas. "India has successfully democratized wealth creation by bringing millions of retail investors into the capital markets. The Social Stock Exchange (SSE) has the potential to do something equally transformative; it can democratise social impact. Every investment becomes an opportunity to create measurable social change alongside financial participation in nation-building," Joseph said. "The SSE bridges the trust gap by ensuring regulatory oversight, transparency, and impact reporting. It empowers citizens to move beyond charity and become informed contributors to India’s development journey. If India’s growth story is to be truly inclusive, the Social Stock Exchange can enable every retail investor to participate not just in building wealth, but in building the nation itself," she added.

The SSE brings governance, disclosure, accountability, and impact to eligible non-profit organisations. It allows citizens to support authenticated organisations covering sectors like education, employability, healthcare, women's empowerment, rural livelihoods, and climate resilience.

Beyond returns: Can Social Stock Exchange (SSE) turn retail investors into nation builders?

The Trump administration has refunded around $100 billion in tariffs collected from importers after the US Supreme Court ruled earlier this year that President Donald Trump's tariffs were illegal and that he had exceeded his authority in imposing a broad set of trade duties under emergency powers.According to AFP, Court filings submitted on Tuesday (Aug 4) show the refunds account for roughly 60 per cent of the approximately $166 billion collected under tariffs imposed using the International Emergency Economic Powers Act (IEEPA). The refunded money has been returned to importers that had paid the duties.Also read | <a href="https://www.wionews.com/world/bangladesh-says-sheikh-hasina-s-india-media-appearance-hurt-ties-calls-it-an-affront-to-sovereignty-1785977377689">'Affront to our sovereignty': Bangladesh slams India over Sheikh Hasina's Delhi press conference</a><h2>Supreme Court dealt major blow to Trump's tariff strategy</h2>After returning to the White House, Trump relied on the IEEPA to impose sweeping tariffs on multiple US trading partners, arguing they were necessary to address national emergencies.However, the Supreme Court ruled in February that the president had overstepped the authority granted under the law, significantly limiting his ability to use emergency powers to impose tariffs.The decision forced the administration to begin refunding duties collected under the invalidated measures.The ruling did not affect Trump's sector-specific tariffs, which were imposed under different legal authorities and remain in force.Also read | <a href="https://www.wionews.com/world/us-says-strait-of-hormuz-remains-open-despite-unwarranted-iranian-aggression-as-report-suggest-deal-to-reopen-vital-waterway-close-1785897369267">US says Strait of Hormuz remains open despite ‘unwarranted Iranian aggression,’ as reports suggest deal to reopen vital waterway close</a><h2>Over $128 billion in refunds being processed</h2>According to Tuesday's court filing, a US Customs and Border Protection official said that, as of July 31, the agency had accepted about $128.68 billion in potential and certified refund claims for processing.Of that amount, roughly $100 billion had already been processed and forwarded to the US Treasury Department for payment to eligible importers. The remaining certified claims are still being processed.<h2>Fresh tariffs face new legal scrutiny</h2>Since the Supreme Court ruling, the Trump administration has sought to restore tariffs through alternative legal mechanisms, announcing new duties on dozens of trading partners.Those measures have also triggered fresh legal challenges, setting the stage for another round of court battles over the scope of presidential authority in US trade policy.

The Trump administration has refunded about $100 billion in tariffs after the US Supreme Court ruled that President Donald Trump exceeded his authority by imposing broad trade duties under emergency powers. More refund claims worth over $128 billion are still being processed.

The Trump administration has refunded around $100 billion in tariffs collected from importers after the US Supreme Court ruled earlier this year that President Donald Trump's tariffs were illegal and that he had exceeded his authority in imposing a broad set of trade duties under emergency powers. According to AFP, Court filings submitted on Tuesday (Aug 4) show the refunds account for roughly 60 per cent of the approximately $166 billion collected under tariffs imposed using the International Emergency Economic Powers Act (IEEPA). The refunded money has been returned to importers that had paid the duties. Also read | 'Affront to our sovereignty': Bangladesh slams India over Sheikh Hasina's Delhi press conference Supreme Court dealt major blow to Trump's tariff strategy After returning to the White House, Trump relied on the IEEPA to impose sweeping tariffs on multiple US trading partners, arguing they were necessary to address national emergencies. However, the Supreme Court ruled in February that the president had overstepped the authority granted under the law, significantly limiting his ability to use emergency powers to impose tariffs. The decision forced the administration to begin refunding duties collected under the invalidated measures. The ruling did not affect Trump's sector-specific tariffs, which were imposed under different legal authorities and remain in force. Also read | US says Strait of Hormuz remains open despite ‘unwarranted Iranian aggression,’ as reports suggest deal to reopen vital waterway close Over $128 billion in refunds being processed According to Tuesday's court filing, a US Customs and Border Protection official said that, as of July 31, the agency had accepted about $128.68 billion in potential and certified refund claims for processing. Of that amount, roughly $100 billion had already been processed and forwarded to the US Treasury Department for payment to eligible importers. The remaining certified claims are still being processed. Fresh tariffs face new legal scrutiny Since the Supreme Court ruling, the Trump administration has sought to restore tariffs through alternative legal mechanisms, announcing new duties on dozens of trading partners. Those measures have also triggered fresh legal challenges, setting the stage for another round of court battles over the scope of presidential authority in US trade policy.

The Trump administration has refunded about $100 billion in tariffs after the US Supreme Court ruled that President Donald Trump exceeded his authority by imposing broad trade duties under emergency powers. More refund claims worth over $128 billion are still being processed.

Trump administration refunds $100 billion in tariffs after Supreme Court ruling

The Enforcement Directorate is investigating 32 bank fraud cases involving 54 accused who have left the country, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday (Aug 4).In a written reply, Chaudhary said the cases are being probed under the Prevention of Money Laundering Act, 2002, and that the agency has taken several steps to trace and act against the absconding accused. These include issuing Red Corner and Blue Corner notices, beginning proceedings under the Fugitive Economic Offenders Act, 2018, and seeking extradition from foreign countries.<h2>Nine declared fugitive economic offenders</h2>According to the minister, FEOA proceedings have been initiated against 27 accused. Courts have so far declared nine of them as Fugitive Economic Offenders, leading to the confiscation of assets worth Rs 840.68 crore.He added that extradition proceedings are underway against 18 accused. Chaudhary also said the ED has attached assets worth Rs 35,166.28 crore under PMLA, of which assets valued at Rs 15,184.19 crore have already been confiscated.Also read | <a href="https://www.wionews.com/india-news/rbi-holds-repo-rate-at-5-25-retains-neutral-stance-amid-inflation-risks-1785905306227">RBI holds repo rate at 5.25%, retains neutral stance amid inflation risks</a><h2>Unclaimed deposits cross Rs 62,683 crore</h2>In another reply, the minister said unclaimed deposits of public sector bank customers, which were transferred to the RBI-managed Depositor Education and Awareness Fund, stood at Rs 62,683.19 crore as of June 30, 2026.He said the government and the Reserve Bank of India have introduced several measures to help legitimate account holders recover these deposits more easily and to prevent a further build-up in unclaimed balances.<h2>Insurance complaints tracked on Bima Bharosa</h2>Chaudhary also gave details on complaints in the insurance sector, saying the Insurance Regulatory and Development Authority of India (IRDAI) monitors grievances related to mis-selling, unfair business practices and claim disputes, including disagreements over policy terms and exclusions.These complaints are tracked through the Bima Bharosa portal, where policyholders can file and monitor their grievances.According to the data available on the portal, 28,789 complaints related to unfair business practices, including mis-selling, were reported during 2025-26.Also read | <a href="https://www.wionews.com/india-news/should-not-be-bullied-cjp-says-movement-will-expand-beyond-protests-rules-out-becoming-political-party-for-now-1785891897835">'Should not be bullied': CJP says movement will expand beyond protests. Politics, or something bigger?</a><h2>Forex reserves remain comfortable</h2>On foreign exchange reserves, the minister said changes in the reserves are influenced by several factors, including the Reserve Bank of India's buying and selling of foreign currency, income from reserve investments, external aid received by the central government and valuation changes in reserve assets.He added that the rupee is determined by market forces and is not managed within a fixed target or band, though the RBI keeps a close watch on the foreign exchange market and steps in when there is excessive volatility. Chaudhary also said the RBI sold $97.13 billion between February and May 2026.He said India's foreign exchange reserves remain comfortable by standard reserve adequacy measures. As of July 10, 2026, they were sufficient to cover 10.3 months of goods imports. At the end of March 2026, the country's short-term debt, on an original maturity basis, stood at 21.6 per cent of the foreign exchange reserves.

The Enforcement Directorate is investigating 32 bank fraud cases involving 54 accused who have fled India, with extradition proceedings underway against 18. The government also said assets worth over ₹35,166 crore have been attached under the PMLA.

The Enforcement Directorate is investigating 32 bank fraud cases involving 54 accused who have left the country, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday (Aug 4). In a written reply, Chaudhary said the cases are being probed under the Prevention of Money Laundering Act, 2002, and that the agency has taken several steps to trace and act against the absconding accused. These include issuing Red Corner and Blue Corner notices, beginning proceedings under the Fugitive Economic Offenders Act, 2018, and seeking extradition from foreign countries. Nine declared fugitive economic offenders According to the minister, FEOA proceedings have been initiated against 27 accused. Courts have so far declared nine of them as Fugitive Economic Offenders, leading to the confiscation of assets worth Rs 840.68 crore. He added that extradition proceedings are underway against 18 accused. Chaudhary also said the ED has attached assets worth Rs 35,166.28 crore under PMLA, of which assets valued at Rs 15,184.19 crore have already been confiscated. Also read | RBI holds repo rate at 5.25%, retains neutral stance amid inflation risks Unclaimed deposits cross Rs 62,683 crore In another reply, the minister said unclaimed deposits of public sector bank customers, which were transferred to the RBI-managed Depositor Education and Awareness Fund, stood at Rs 62,683.19 crore as of June 30, 2026. He said the government and the Reserve Bank of India have introduced several measures to help legitimate account holders recover these deposits more easily and to prevent a further build-up in unclaimed balances. Insurance complaints tracked on Bima Bharosa Chaudhary also gave details on complaints in the insurance sector, saying the Insurance Regulatory and Development Authority of India (IRDAI) monitors grievances related to mis-selling, unfair business practices and claim disputes, including disagreements over policy terms and exclusions. These complaints are tracked through the Bima Bharosa portal, where policyholders can file and monitor their grievances. According to the data available on the portal, 28,789 complaints related to unfair business practices, including mis-selling, were reported during 2025-26. Also read | 'Should not be bullied': CJP says movement will expand beyond protests. Politics, or something bigger? Forex reserves remain comfortable On foreign exchange reserves, the minister said changes in the reserves are influenced by several factors, including the Reserve Bank of India's buying and selling of foreign currency, income from reserve investments, external aid received by the central government and valuation changes in reserve assets. He added that the rupee is determined by market forces and is not managed within a fixed target or band, though the RBI keeps a close watch on the foreign exchange market and steps in when there is excessive volatility. Chaudhary also said the RBI sold $97.13 billion between February and May 2026. He said India's foreign exchange reserves remain comfortable by standard reserve adequacy measures. As of July 10, 2026, they were sufficient to cover 10.3 months of goods imports. At the end of March 2026, the country's short-term debt, on an original maturity basis, stood at 21.6 per cent of the foreign exchange reserves.

The Enforcement Directorate is investigating 32 bank fraud cases involving 54 accused who have fled India, with extradition proceedings underway against 18. The government also said assets worth over ₹35,166 crore have been attached under the PMLA.

Government reveals scale of bank fraud: 54 accused fled India, ED launches global hunt

The Trump administration is stepping up oversight of advanced artificial intelligence following reports from OpenAI and Anthropic that their autonomous AI agents exceeded their intended limits during testing. On Tuesday (Aug 4), White House officials met representatives from Meta, Anthropic, Google, OpenAI and Nvidia to discuss a newly completed ‘voluntary cybersecurity testing framework’ for frontier AI models. While details are not out, the framework reportedly follows President Donald Trump’s June 2 executive order, Promoting Advanced Artificial Intelligence Innovation and Security, which allows the government to review the most capable AI models up to 30 days before public release to assess cyber risks. The order explicitly avoids mandatory licensing, permits or pre-clearance. What's the future of government intervention into AI agents?<h2>Cybersecurity testing takes centre stage</h2>According to reports in the US media, the framework focuses on AI cyber capabilities like the agents' ability to identify software vulnerabilities or carry out hacking. Developers can voluntarily submit qualifying models, which may be shared with agencies such as the Treasury Department, NSA, CISA and the National Security Council for classified testing. The government has not disclosed testing standards, reporting requirements or model thresholds. Open-weight and open-source models, including Meta’s Llama and Nvidia’s Nemotron, are excluded.<a href="https://www.wionews.com/videos/openai-rogue-ai-agent-hacked-rival-platform-by-itself-1784744829993/embed">https://www.wionews.com/videos/openai-rogue-ai-agent-hacked-rival-platform-by-itself-1784744829993/embed</a><h2>Significance of White House meeting of AI firm honchos</h2>Organised by the Office of the National Cyber Director, the meeting came days after reports that OpenAI and Anthropic AI agents escaped controlled testing environments and breached external systems. More about that later.White House officials said the voluntary framework is complete and discussions with industry on implementation are underway. &nbsp;White House spokeswoman Liz Huston said, “The United States leads the world in AI innovation and President Trump’s successful approach will keep it that way.”OpenAI Chief Global Affairs Officer Chris Lehane called it “an important step toward closing the gap between innovation and governance” through “a clear, credible, national framework” for evaluating advanced AI systems.Officials, including National Cyber Director Sean Cairncross, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, have been stressing cooperation with industry rather than heavy regulation.Also read: <a href="https://www.wionews.com/technology/after-openai-s-scary-agent-anthropic-s-claude-goes-rogue-ai-gains-unauthorised-real-world-access-during-testing-1785475339558">After OpenAI's 'scary' agent, Anthropic's Claude goes rogue; AI gains unauthorised 'real-world' access during testing</a><h2>Rogue AI incidents drive scrutiny</h2>In July, an OpenAI agent escaped a testing environment, compromised systems at Hugging Face, affected Modal Labs and other infrastructure, and carried out thousands of actions after exploiting a previously unknown vulnerability. OpenAI later identified additional breakout incidents.Anthropic disclosed that AI systems linked to its Claude/Mythos models infiltrated networks at three companies during internal testing. In one case, an AI persuaded developers to install a poisoned software package that stole credentials.Also read: <a href="https://www.wionews.com/technology/openai-s-ai-agent-gone-rogue-company-reveals-chilling-hack-at-startup-1784697608707">OpenAI’s AI agent gone rogue? Company reveals chilling hack at startup</a>The UK AI Security Institute (AISI) separately recorded two instances of unsanctioned behaviour by OpenAI’s GPT-5.6 Sol model. It also found 17 of 19 unsanctioned actions involved Anthropic’s Mythos 5. This included the creation of fake identities, inserting malicious GitHub code and attempting to deceive people into providing access or credentials.Also read: <a href="https://www.wionews.com/technology/scary-rogue-ai-on-the-loose-openai-agent-hit-another-tech-firm-s-customer-suggests-report-1785292505727">'Scary' Rogue AI on the loose? OpenAI agent hit another tech firm's customer, suggests report</a><h2>Is AI kill switch legislation next?</h2>The incidents have revived calls in Washington for AI “kill switch” legislation that would allow authorities or developers to rapidly disable AI systems posing serious cybersecurity or national security risks. Such a law has not been introduced yet, but lawmakers have floated the idea.The White House appears to favour voluntary testing, information-sharing and existing legal powers over mandatory regulation. But researchers, including METR, say repeated AI agent failures expose growing gaps in containment, liability and cybersecurity. This may eventually require stronger legal safeguards.

The Trump administration is advancing voluntary cybersecurity testing for frontier AI models. A White House meeting with AI firms came after OpenAI and Anthropic ‘rogue agent’ incidents reignited debate over AI oversight. A ‘kill switch’ law in the future won't be surprising



The Trump administration is stepping up oversight of advanced artificial intelligence following reports from OpenAI and Anthropic that their autonomous AI agents exceeded their intended limits during testing. On Tuesday (Aug 4), White House officials met representatives from Meta, Anthropic, Google, OpenAI and Nvidia to discuss a newly completed ‘voluntary cybersecurity testing framework’ for frontier AI models. While details are not out, the framework reportedly follows President Donald Trump’s June 2 executive order, Promoting Advanced Artificial Intelligence Innovation and Security, which allows the government to review the most capable AI models up to 30 days before public release to assess cyber risks. The order explicitly avoids mandatory licensing, permits or pre-clearance. What's the future of government intervention into AI agents? Cybersecurity testing takes centre stage According to reports in the US media, the framework focuses on AI cyber capabilities like the agents' ability to identify software vulnerabilities or carry out hacking. Developers can voluntarily submit qualifying models, which may be shared with agencies such as the Treasury Department, NSA, CISA and the National Security Council for classified testing. The government has not disclosed testing standards, reporting requirements or model thresholds. Open-weight and open-source models, including Meta’s Llama and Nvidia’s Nemotron, are excluded. https://www.wionews.com/videos/openai-rogue-ai-agent-hacked-rival-platform-by-itself-1784744829993/embed Significance of White House meeting of AI firm honchos Organised by the Office of the National Cyber Director, the meeting came days after reports that OpenAI and Anthropic AI agents escaped controlled testing environments and breached external systems. More about that later. White House officials said the voluntary framework is complete and discussions with industry on implementation are underway. White House spokeswoman Liz Huston said, “The United States leads the world in AI innovation and President Trump’s successful approach will keep it that way.” OpenAI Chief Global Affairs Officer Chris Lehane called it “an important step toward closing the gap between innovation and governance” through “a clear, credible, national framework” for evaluating advanced AI systems. Officials, including National Cyber Director Sean Cairncross, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, have been stressing cooperation with industry rather than heavy regulation. Also read: After OpenAI's 'scary' agent, Anthropic's Claude goes rogue; AI gains unauthorised 'real-world' access during testing Rogue AI incidents drive scrutiny In July, an OpenAI agent escaped a testing environment, compromised systems at Hugging Face, affected Modal Labs and other infrastructure, and carried out thousands of actions after exploiting a previously unknown vulnerability. OpenAI later identified additional breakout incidents. Anthropic disclosed that AI systems linked to its Claude/Mythos models infiltrated networks at three companies during internal testing. In one case, an AI persuaded developers to install a poisoned software package that stole credentials. Also read: OpenAI’s AI agent gone rogue? Company reveals chilling hack at startup The UK AI Security Institute (AISI) separately recorded two instances of unsanctioned behaviour by OpenAI’s GPT-5.6 Sol model. It also found 17 of 19 unsanctioned actions involved Anthropic’s Mythos 5. This included the creation of fake identities, inserting malicious GitHub code and attempting to deceive people into providing access or credentials. Also read: 'Scary' Rogue AI on the loose? OpenAI agent hit another tech firm's customer, suggests report Is AI kill switch legislation next? The incidents have revived calls in Washington for AI “kill switch” legislation that would allow authorities or developers to rapidly disable AI systems posing serious cybersecurity or national security risks. Such a law has not been introduced yet, but lawmakers have floated the idea. The White House appears to favour voluntary testing, information-sharing and existing legal powers over mandatory regulation. But researchers, including METR, say repeated AI agent failures expose growing gaps in containment, liability and cybersecurity. This may eventually require stronger legal safeguards.

The Trump administration is advancing voluntary cybersecurity testing for frontier AI models. A White House meeting with AI firms came after OpenAI and Anthropic ‘rogue agent’ incidents reignited debate over AI oversight. A ‘kill switch’ law in the future won't be surprising&nbsp;

Time for AI kill switch? What White House meeting,  legislation talk, and govt pre-testing framework mean for  intervention into ‘rogue’ AI agents

The Reserve Bank of India's Monetary Policy Committee (MPC) on Wednesday (Aug 5) kept the benchmark repo rate unchanged at 5.25 per cent, while retaining its neutral policy stance, signalling caution amid rising inflationary pressures.Announcing the MPC's decision, RBI Governor Sanjay Malhotra said the committee had unanimously decided to leave the policy rate unchanged. The central bank flagged that headline inflation has moved above its target and is expected to remain elevated in the near term, with food and fuel prices emerging as the key drivers of price pressures.<h2>Key highlights</h2><ul><li>Repo rate unchanged at 5.25%</li><li>Policy stance retained as “neutral”</li><li>Headline inflation has risen above the RBI's target</li><li>Food and fuel prices are adding to inflationary pressures</li><li>Headline inflation expected to remain elevated in the near term</li></ul><h2>Inflation remains above target</h2>The central bank flagged rising inflation as a key concern, noting that headline inflation has moved above the RBI's target. Governor Malhotra said food and fuel prices continue to add pressure to inflation, with headline inflation expected to remain elevated in the near term.The RBI projected consumer price inflation at 5 per cent for the current financial year, while core inflation is expected to average 4.3 per cent.<h2>Growth outlook revised upward</h2>Despite inflation concerns, the RBI marginally raised its growth forecast for the current fiscal year. The central bank now expects real GDP growth at 6.7 per cent, an increase of 10 basis points from its previous estimate, reflecting resilience in domestic economic activity.<h2>Global risks remain</h2>The RBI cautioned that external uncertainties continue to pose risks to India's growth trajectory.&nbsp;It identified the ongoing conflict in West Asia, volatility in international financial markets and weather-related disruptions as key factors that could weigh on economic activity in the months ahead.By maintaining both the repo rate and its neutral stance, the central bank indicated it remains focused on balancing inflation control with sustaining economic growth as global and domestic uncertainties persist.

The RBI has kept the repo rate unchanged at 5.25% and retained its neutral policy stance, citing rising inflation driven by food and fuel prices. The central bank warned that headline inflation has moved above its target and is likely to remain elevated in the near term.

The Reserve Bank of India's Monetary Policy Committee (MPC) on Wednesday (Aug 5) kept the benchmark repo rate unchanged at 5.25 per cent, while retaining its neutral policy stance, signalling caution amid rising inflationary pressures. Announcing the MPC's decision, RBI Governor Sanjay Malhotra said the committee had unanimously decided to leave the policy rate unchanged. The central bank flagged that headline inflation has moved above its target and is expected to remain elevated in the near term, with food and fuel prices emerging as the key drivers of price pressures. Key highlights Repo rate unchanged at 5.25% Policy stance retained as “neutral” Headline inflation has risen above the RBI's target Food and fuel prices are adding to inflationary pressures Headline inflation expected to remain elevated in the near term Inflation remains above target The central bank flagged rising inflation as a key concern, noting that headline inflation has moved above the RBI's target. Governor Malhotra said food and fuel prices continue to add pressure to inflation, with headline inflation expected to remain elevated in the near term. The RBI projected consumer price inflation at 5 per cent for the current financial year, while core inflation is expected to average 4.3 per cent. Growth outlook revised upward Despite inflation concerns, the RBI marginally raised its growth forecast for the current fiscal year. The central bank now expects real GDP growth at 6.7 per cent, an increase of 10 basis points from its previous estimate, reflecting resilience in domestic economic activity. Global risks remain The RBI cautioned that external uncertainties continue to pose risks to India's growth trajectory. It identified the ongoing conflict in West Asia, volatility in international financial markets and weather-related disruptions as key factors that could weigh on economic activity in the months ahead. By maintaining both the repo rate and its neutral stance, the central bank indicated it remains focused on balancing inflation control with sustaining economic growth as global and domestic uncertainties persist.

The RBI has kept the repo rate unchanged at 5.25% and retained its neutral policy stance, citing rising inflation driven by food and fuel prices. The central bank warned that headline inflation has moved above its target and is likely to remain elevated in the near term.

RBI holds repo rate at 5.25%, retains neutral stance amid inflation risks

A powerful panel of the Indian Parliament asked some uncomfortable questions to representatives of some of the world's biggest social media companies. The context was the recent protests against exam paper leaks led by the Cockroach Janata Party (CJP), the removal of Prime Minister Narendra Modi's video, alleged algorithmic manipulation, and broader concerns about platform accountability. Representatives of Meta, the parent company of Facebook, Instagram and WhatsApp, as well as those from Google, YouTube, X and Snapchat attended the meeting. Here is what happened:<h2>The Parliament committee was on regulating social and digital platforms</h2>The Parliamentary Standing Committee on Communications and Information Technology was chaired by Bharatiya Janata Party (BJP) MP Nishikant Dubey. Its meeting was also attended by Union Home Secretary Govind Mohan, Ministry of Electronics and Information Technology (MeitY) Secretary S Krishnan, Information and Broadcasting Secretary Sanjay Jaju, and other senior officials. The subject of the meeting held on Monday (Aug 3) was "Social and Digital Platforms and Their Regulation".<a href="https://www.wionews.com/videos/meta-under-fire-as-panel-seeks-answers-over-pm-modi-video-takedown-1785825943604/embed">https://www.wionews.com/videos/meta-under-fire-as-panel-seeks-answers-over-pm-modi-video-takedown-1785825943604/embed</a><h2>The removal of PM Modi's video came up for discussion</h2>The Prime Minister released a reel-style video on the night of 23 July addressing India's youth amid protests in Delhi and other cities over alleged examination paper leaks, including NEET-UG. The CJP-led agitation was demanding the resignation of Union Education Minister Dharmendra Pradhan, who eventually resigned. Modi's video was briefly restricted or removed on Facebook for around five hours, from approximately 12.30 am to 5.00 am. Meta attributed the incident to a technical error and restored the video. MeitY had earlier described the explanation as "inadequate".At the Parliament committee hearing, members pressed Meta to fix responsibility beyond a company-level apology, according to media reports. The company was asked as to who authorised the removal of the PM's video and how such an error could occur with official content from the Prime Minister's office.The underlying question was whether this represented a serious systems failure, a flaw in Meta's moderation processes, or a deliberate act that resulted in the Prime Minister's official communication being taken down.Meta representatives expressed regret and indicated their readiness to apologise. Dubey sought a personal apology from Meta Chief Executive Officer Mark Zuckerberg. If the CEO does not apologise, Meta's safe harbour protection under Section 79 of India's Information Technology Act, 2000 should be withdrawn, Dubey reportedly recommended. The panel also sought a written reply from Meta within 10 days.<h2>Did tech giants amplify the viewership of CJP protest content?</h2>Dubey noted that the CJP had exceptionally high social media viewership. According to some media reports cited, its content generated up to 27 billion views across platforms. The figure exceeded the combined reach of content from major political parties. An anti-reservation forum also reportedly generated around 7 billion views.These figures were presented as possible evidence that the algorithms of social media platforms may be favouring newcomers, highly engaging content, or particular types of political material. Panel members sought an explanation of how such content achieved such extraordinary reach and whether platform recommendation systems played a role. The broader issue was the role of social media platforms during the protests, including the spread of deepfakes, morphed images and misleading content targeting the prime minister and Union ministers.Police cases have already been registered, and investigations are underway, in connection with some such content, including a case against Meta India's head in Hyderabad over allegedly objectionable posts.Also read:<a href="https://www.wionews.com/trending/why-did-meta-remove-pm-modi-s-facebook-video-on-paper-leaks-tech-giant-blames-technical-error-1785220710914"> Why did Meta remove PM Modi's Facebook video on paper leaks? Tech company blames 'technical error'</a><h2>Is there algorithmic bias in the recommendation systems of social media?</h2>The panel members questioned the platforms, particularly Meta, over alleged algorithmic bias.Among the issues raised were why objectionable material, including pornography, child sexual abuse material (CSAM), deepfake scams and content targeting women, often remained available while an official communication from the prime minister was removed.The tech giants were asked how their recommendation, ranking and amplification systems function, who oversees them, what safeguards exist against bias, and how content moderation decisions are reviewed.They also faced questions on whether political or ideological bias exists in their content moderation systems and what responsibilities platforms bear in matters affecting public order, elections and national security.Specifically, members questioned the capability of platform algorithms and artificial intelligence systems to detect deepfakes involving the Prime Minister and other public figures before they spread widely.MeitY has already summoned Meta's global team to discuss algorithmic processes, potential bias and the company's responsibilities relating to public order and compliance with Indian law.Also read: <a href="https://www.wionews.com/india-news/after-pm-fb-post-issue-meta-assures-rigorous-safeguards-for-posts-by-prominent-accounts-1785343588801">After PM FB post issue, Meta assures rigorous safeguards for posts by prominent accounts</a><h2>Foreign ownership of platforms and control over content</h2>Another issue discussed was the foreign ownership of major technology platforms and the extent to which content moderation decisions affecting Indian users are made outside India. There has been growing criticism that these companies do not adequately comply with Indian law despite earning substantial revenues from the country. Their handling of unlawful content, including cyber fraud, online harassment of women and other illegal material, was criticised as inadequate.Members also raised concerns that, in some instances, platforms had failed to respond promptly to official communications from Indian authorities, including the Ministry of Home Affairs and MeitY.<h2>Are social media platforms merely intermediaries?</h2>A key legal issue discussed was whether these platforms can continue to claim protection under the safe harbour provisions of Indian law. Under Section 79 of the Information Technology Act, intermediaries receive limited immunity from liability for user-generated content, provided they comply with prescribed legal obligations and due diligence requirements.Some panel members argued that if platforms actively recommend, amplify, suppress or otherwise influence the visibility of content through algorithms, they cannot simply describe themselves as neutral intermediaries. Others maintained that the existing legal framework must be applied carefully to preserve free expression while ensuring accountability.Opposition members on the panel stressed that criticism of the government should not automatically be treated as anti-national and that democratic space for dissent must remain protected.However, the committee was largely unanimous on the need for stricter enforcement against unlawful content, greater transparency in content moderation and stronger accountability from social media platforms.&nbsp;

An Indian parliamentary panel questioned Meta, Google, X, YouTube and Snapchat over a number of issues regarding their alleged bias. Issues discussed include PM Modi's video removal, algorithmic bias, content moderation and social media accountability.



A powerful panel of the Indian Parliament asked some uncomfortable questions to representatives of some of the world's biggest social media companies. The context was the recent protests against exam paper leaks led by the Cockroach Janata Party (CJP), the removal of Prime Minister Narendra Modi's video, alleged algorithmic manipulation, and broader concerns about platform accountability. Representatives of Meta, the parent company of Facebook, Instagram and WhatsApp, as well as those from Google, YouTube, X and Snapchat attended the meeting. Here is what happened: The Parliament committee was on regulating social and digital platforms The Parliamentary Standing Committee on Communications and Information Technology was chaired by Bharatiya Janata Party (BJP) MP Nishikant Dubey. Its meeting was also attended by Union Home Secretary Govind Mohan, Ministry of Electronics and Information Technology (MeitY) Secretary S Krishnan, Information and Broadcasting Secretary Sanjay Jaju, and other senior officials. The subject of the meeting held on Monday (Aug 3) was "Social and Digital Platforms and Their Regulation". https://www.wionews.com/videos/meta-under-fire-as-panel-seeks-answers-over-pm-modi-video-takedown-1785825943604/embed The removal of PM Modi's video came up for discussion The Prime Minister released a reel-style video on the night of 23 July addressing India's youth amid protests in Delhi and other cities over alleged examination paper leaks, including NEET-UG. The CJP-led agitation was demanding the resignation of Union Education Minister Dharmendra Pradhan, who eventually resigned. Modi's video was briefly restricted or removed on Facebook for around five hours, from approximately 12.30 am to 5.00 am. Meta attributed the incident to a technical error and restored the video. MeitY had earlier described the explanation as "inadequate". At the Parliament committee hearing, members pressed Meta to fix responsibility beyond a company-level apology, according to media reports. The company was asked as to who authorised the removal of the PM's video and how such an error could occur with official content from the Prime Minister's office. The underlying question was whether this represented a serious systems failure, a flaw in Meta's moderation processes, or a deliberate act that resulted in the Prime Minister's official communication being taken down. Meta representatives expressed regret and indicated their readiness to apologise. Dubey sought a personal apology from Meta Chief Executive Officer Mark Zuckerberg. If the CEO does not apologise, Meta's safe harbour protection under Section 79 of India's Information Technology Act, 2000 should be withdrawn, Dubey reportedly recommended. The panel also sought a written reply from Meta within 10 days. Did tech giants amplify the viewership of CJP protest content? Dubey noted that the CJP had exceptionally high social media viewership. According to some media reports cited, its content generated up to 27 billion views across platforms. The figure exceeded the combined reach of content from major political parties. An anti-reservation forum also reportedly generated around 7 billion views. These figures were presented as possible evidence that the algorithms of social media platforms may be favouring newcomers, highly engaging content, or particular types of political material. Panel members sought an explanation of how such content achieved such extraordinary reach and whether platform recommendation systems played a role. The broader issue was the role of social media platforms during the protests, including the spread of deepfakes, morphed images and misleading content targeting the prime minister and Union ministers. Police cases have already been registered, and investigations are underway, in connection with some such content, including a case against Meta India's head in Hyderabad over allegedly objectionable posts. Also read: Why did Meta remove PM Modi's Facebook video on paper leaks? Tech company blames 'technical error' Is there algorithmic bias in the recommendation systems of social media? The panel members questioned the platforms, particularly Meta, over alleged algorithmic bias. Among the issues raised were why objectionable material, including pornography, child sexual abuse material (CSAM), deepfake scams and content targeting women, often remained available while an official communication from the prime minister was removed. The tech giants were asked how their recommendation, ranking and amplification systems function, who oversees them, what safeguards exist against bias, and how content moderation decisions are reviewed. They also faced questions on whether political or ideological bias exists in their content moderation systems and what responsibilities platforms bear in matters affecting public order, elections and national security. Specifically, members questioned the capability of platform algorithms and artificial intelligence systems to detect deepfakes involving the Prime Minister and other public figures before they spread widely. MeitY has already summoned Meta's global team to discuss algorithmic processes, potential bias and the company's responsibilities relating to public order and compliance with Indian law. Also read: After PM FB post issue, Meta assures rigorous safeguards for posts by prominent accounts Foreign ownership of platforms and control over content Another issue discussed was the foreign ownership of major technology platforms and the extent to which content moderation decisions affecting Indian users are made outside India. There has been growing criticism that these companies do not adequately comply with Indian law despite earning substantial revenues from the country. Their handling of unlawful content, including cyber fraud, online harassment of women and other illegal material, was criticised as inadequate. Members also raised concerns that, in some instances, platforms had failed to respond promptly to official communications from Indian authorities, including the Ministry of Home Affairs and MeitY. Are social media platforms merely intermediaries? A key legal issue discussed was whether these platforms can continue to claim protection under the safe harbour provisions of Indian law. Under Section 79 of the Information Technology Act, intermediaries receive limited immunity from liability for user-generated content, provided they comply with prescribed legal obligations and due diligence requirements. Some panel members argued that if platforms actively recommend, amplify, suppress or otherwise influence the visibility of content through algorithms, they cannot simply describe themselves as neutral intermediaries. Others maintained that the existing legal framework must be applied carefully to preserve free expression while ensuring accountability. Opposition members on the panel stressed that criticism of the government should not automatically be treated as anti-national and that democratic space for dissent must remain protected. However, the committee was largely unanimous on the need for stricter enforcement against unlawful content, greater transparency in content moderation and stronger accountability from social media platforms.

An Indian parliamentary panel questioned Meta, Google, X, YouTube and Snapchat over a number of issues regarding their alleged bias. Issues discussed include PM Modi's video removal, algorithmic bias, content moderation and social media accountability.&nbsp;

What did the Indian Parliament panel ask Meta, Google, X and Snapchat? PM Modi's video removal, CJP protest, algorithm manipulation

New Delhi: The United States has authorised certain transactions related to Venezuela’s Petróleos de Venezuela SA (PDVSA) 2020 8.5% bond from 17 September 2026, a step that could ease financial dealings for Indian firms with long-standing ties to the South American country’s oil sector. Petróleos de Venezuela, S.A. (PDVSA) is the state-owned oil and gas company of Venezuela and conducts exploration, production, refining, marketing, transportation, and export of oil, along with natural gas activities.&nbsp;The Office of Foreign Assets Control (OFAC) at the US Treasury issued General License 5Y on 3 August, further delaying the effectiveness of authorisations linked to the bond until that date. For years, successive general licences have postponed US persons’ ability to enforce bondholder rights over those shares, protecting the asset while broader sanctions remained in place.&nbsp;ONGC Videsh Limited (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corporation, stands to benefit. OVL holds significant interests in two Venezuelan oil projects: a 40% stake in the San Cristóbal field through the joint venture Petrolera Indovenezolana SA, and an 11% participating interest in the Petrocarabobo (Carabobo-1) project alongside partners including Repsol and Indian Oil Corporation.&nbsp;These investments, made more than a decade ago, have been severely constrained by US sanctions imposed during the Maduro era. OVL has reported hundreds of millions of dollars in unpaid dividends, estimates range from around $600 million to as high as $900 million in recent reports, that could not be repatriated because of restrictions on financial transactions involving PDVSA. Operations at the fields have also been limited, with production far below potential.&nbsp;The latest licence forms part of a wider, gradual easing of Venezuela-related sanctions that began after the capture of former president Nicolás Maduro by US forces in January 2026 and the subsequent cooperation of the interim authorities under Delcy Rodríguez. Since then, OFAC has issued a series of general licences allowing established US entities broader dealings in Venezuelan-origin oil, diluents, and related services, while still keeping PDVSA itself under certain restrictions.&nbsp;Easier access to PDVSA-related financial instruments could simplify residual payments, restructuring discussions, or new commercial arrangements once the September date arrives. Venezuela holds some of the world’s largest proven oil reserves, concentrated in the Orinoco Belt where OVL’s projects are located. For India, which relies heavily on imported crude, Venezuela offers potential diversification of supply and a chance to recover long-pending returns on capital already invested.

ONGC Videsh Limited holds interests in two Venezuelan oil projects: a 40% stake in the San Cristóbal field through the joint venture Petrolera Indovenezolana SA, and an 11% participating interest in the Petrocarabobo (Carabobo-1) project with Repsol and Indian Oil Corporation as partners.

New Delhi: The United States has authorised certain transactions related to Venezuela’s Petróleos de Venezuela SA (PDVSA) 2020 8.5% bond from 17 September 2026, a step that could ease financial dealings for Indian firms with long-standing ties to the South American country’s oil sector. Petróleos de Venezuela, S.A. (PDVSA) is the state-owned oil and gas company of Venezuela and conducts exploration, production, refining, marketing, transportation, and export of oil, along with natural gas activities. The Office of Foreign Assets Control (OFAC) at the US Treasury issued General License 5Y on 3 August, further delaying the effectiveness of authorisations linked to the bond until that date. For years, successive general licences have postponed US persons’ ability to enforce bondholder rights over those shares, protecting the asset while broader sanctions remained in place. ONGC Videsh Limited (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corporation, stands to benefit. OVL holds significant interests in two Venezuelan oil projects: a 40% stake in the San Cristóbal field through the joint venture Petrolera Indovenezolana SA, and an 11% participating interest in the Petrocarabobo (Carabobo-1) project alongside partners including Repsol and Indian Oil Corporation. These investments, made more than a decade ago, have been severely constrained by US sanctions imposed during the Maduro era. OVL has reported hundreds of millions of dollars in unpaid dividends, estimates range from around $600 million to as high as $900 million in recent reports, that could not be repatriated because of restrictions on financial transactions involving PDVSA. Operations at the fields have also been limited, with production far below potential. The latest licence forms part of a wider, gradual easing of Venezuela-related sanctions that began after the capture of former president Nicolás Maduro by US forces in January 2026 and the subsequent cooperation of the interim authorities under Delcy Rodríguez. Since then, OFAC has issued a series of general licences allowing established US entities broader dealings in Venezuelan-origin oil, diluents, and related services, while still keeping PDVSA itself under certain restrictions. Easier access to PDVSA-related financial instruments could simplify residual payments, restructuring discussions, or new commercial arrangements once the September date arrives. Venezuela holds some of the world’s largest proven oil reserves, concentrated in the Orinoco Belt where OVL’s projects are located. For India, which relies heavily on imported crude, Venezuela offers potential diversification of supply and a chance to recover long-pending returns on capital already invested.

ONGC Videsh Limited holds interests in two Venezuelan oil projects: a 40% stake in the San Cristóbal field through the joint venture Petrolera Indovenezolana SA, and an 11% participating interest in the Petrocarabobo (Carabobo-1) project with Repsol and Indian Oil Corporation as partners.

US move on Venezuela oil bond could unlock gains for India’s energy companies

US and Japan intervened together last week to carry out a rare, coordinated yen buying to halt the slide of the Japanese currency. The yen slid to a fresh 40-year low, hitting 163.73 against the dollar before rebounding to around 157-158. It's the first joint intervention since the 2011 earthquake to weaken the yen and the first joint operation to buy yen since 1998. The US sold its own holdings of Euros from the US Treasury Exchange Stabilisation Fund to buy the yen.&nbsp;“They have a weakening yen, and they wanted a little bit of help. And we’re always there for Japan,” said Trump in response to a reporter's question about joint intervention. After the announcement, the Japanese yen surged as much as 1.4 per cent to hit a nearly three-month high of 155.20 per US dollar, compounding a 3.8 per cent surge over the two previous sessions.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/supreme-court-pellet-gun-guidelines-jantar-mantar-protest-1785755099371">Supreme Court may frame guidelines on pellet gun use after Jantar Mantar protest</a><h2>Why its happening?</h2>The interest rate gap between Japan and the US has been driving the persistent weakness of the yen, hitting Japanese households with rising import costs. This has been a driving force for almost three decades, from 1999 to 2024, of yen carry trade, where Wall Street hedge funds would borrow yen and convert it to dollar-based assets and gain 4-5 per cent interest. This was the easiest way to make money. However, that gradually depreciated the value of the yen. It reached a peak in 2024 when the US Federal Reserve hiked rates aggressively, and Japan maintained neutral and negative interest rates. &nbsp;In July 2024, the Bank of Japan raised rates to 0.25 per cent, causing a sudden unwinding of the carry trade. &nbsp;The bigger worry for Washington and Tokyo is the bond market. Japan is the largest holder of US debt, roughly $1.15 trillion in US Treasuries. Analysts say the move aims to prevent spillovers from a sell-off in the yen and Japanese government bonds, which are adding pressure to already-rising US Treasury yields. US wants to prevent the weakening of the yen to prevent its trade deficit from widening. It does not want to risk Japan dumping US Treasuries, which will push the yields higher and widen its debt.However, analysts suggest the US and Japan are kicking the can down the road; they can't address this crisis without monetary policy change and fiscal discipline. The Japanese Ministry of Finance and the Bank of Japan are in a structural trap. If the BOJ raises interest rates to 2-3 per cent to match the US, the interest cost of Japan's debt will explode. Japan's public debt is over 200 per cent of its GDP; it will push the country into a debt spiral and freeze the domestic market. The most recent adjustment in June 2026 by the BOJ pushed the interest rate up to 1.00 per cent. But it is still negative compared to inflation, which is running near 2.5- 3 per cent. So investors are heavily penalised for holding cash in yen, and it forces them to move it into foreign dollar-based assets, keeping the pressure on the yen. Japan needs the Fed to slash interest rates to stabilise its yen, but Washington is too scared to do that amid a global energy crisis. So the US is keeping the yen on life support to keep its own economy from going into a debt spiral.&nbsp;

The US and Japan carried out a rare joint intervention to support the yen after it hit a 40-year low. Here's why the move matters and what comes next.

US and Japan intervened together last week to carry out a rare, coordinated yen buying to halt the slide of the Japanese currency. The yen slid to a fresh 40-year low, hitting 163.73 against the dollar before rebounding to around 157-158. It's the first joint intervention since the 2011 earthquake to weaken the yen and the first joint operation to buy yen since 1998. The US sold its own holdings of Euros from the US Treasury Exchange Stabilisation Fund to buy the yen. “They have a weakening yen, and they wanted a little bit of help. And we’re always there for Japan,” said Trump in response to a reporter's question about joint intervention. After the announcement, the Japanese yen surged as much as 1.4 per cent to hit a nearly three-month high of 155.20 per US dollar, compounding a 3.8 per cent surge over the two previous sessions. Also Read: Supreme Court may frame guidelines on pellet gun use after Jantar Mantar protest Why its happening? The interest rate gap between Japan and the US has been driving the persistent weakness of the yen, hitting Japanese households with rising import costs. This has been a driving force for almost three decades, from 1999 to 2024, of yen carry trade, where Wall Street hedge funds would borrow yen and convert it to dollar-based assets and gain 4-5 per cent interest. This was the easiest way to make money. However, that gradually depreciated the value of the yen. It reached a peak in 2024 when the US Federal Reserve hiked rates aggressively, and Japan maintained neutral and negative interest rates. In July 2024, the Bank of Japan raised rates to 0.25 per cent, causing a sudden unwinding of the carry trade. The bigger worry for Washington and Tokyo is the bond market. Japan is the largest holder of US debt, roughly $1.15 trillion in US Treasuries. Analysts say the move aims to prevent spillovers from a sell-off in the yen and Japanese government bonds, which are adding pressure to already-rising US Treasury yields. US wants to prevent the weakening of the yen to prevent its trade deficit from widening. It does not want to risk Japan dumping US Treasuries, which will push the yields higher and widen its debt. However, analysts suggest the US and Japan are kicking the can down the road; they can't address this crisis without monetary policy change and fiscal discipline. The Japanese Ministry of Finance and the Bank of Japan are in a structural trap. If the BOJ raises interest rates to 2-3 per cent to match the US, the interest cost of Japan's debt will explode. Japan's public debt is over 200 per cent of its GDP; it will push the country into a debt spiral and freeze the domestic market. The most recent adjustment in June 2026 by the BOJ pushed the interest rate up to 1.00 per cent. But it is still negative compared to inflation, which is running near 2.5- 3 per cent. So investors are heavily penalised for holding cash in yen, and it forces them to move it into foreign dollar-based assets, keeping the pressure on the yen. Japan needs the Fed to slash interest rates to stabilise its yen, but Washington is too scared to do that amid a global energy crisis. So the US is keeping the yen on life support to keep its own economy from going into a debt spiral.

The US and Japan carried out a rare joint intervention to support the yen after it hit a 40-year low. Here's why the move matters and what comes next.

Why the US and Japan jointly intervened to support the yen

The advent of peptide science has brought with it peptides with extremely targeted interactions with biological pathways. These include a Decapeptide-12 with a proposed function in pigmentation biology. It is a synthetic peptide which may be targeted to melanin synthesis mechanisms and is being evaluated as a research tool to better understand melanin synthesis molecular regulation. It has been speculated to have selective interactions with melanogenic pathways, and has been used as a valuable subject in peptide engineering, molecular biology and cellular signalling research.<h2>What are peptides?</h2>Peptides are short chains of amino acids, and are basic signalling molecules in biological systems. They are smaller and easier to manipulate, so they might be able to be engineered to bind to a specific receptor, enzyme or cellular pathway. This versatility has led to the increasing importance of synthetic peptides in the laboratory, where they are used to investigate biological processes and to develop new molecular models for scientific research.&nbsp;A synthetic peptide is one of these, known as Decapeptide-12. It consists of 10 amino acids that are designed to bind to the key regulators of melanogenesis (melanin production). It is thought that its structure may allow it to interact selectively with enzymes that are associated with pigmentation, notably tyrosinase, which has a major role in the conversion of the amino acid tyrosine to melanin.&nbsp;Tyrosinase has been consistently found to be one of the important control points in pigmentation biology from scientific literature. The regulation of tyrosinase has been highlighted in reviews that appeared in Physiological Reviews, Biochimica et Biophysica Acta and the International Journal of Molecular Sciences in the field of understanding melanogenesis and pigment-related cellular mechanisms.&nbsp;In addition to tyrosinase, Decapeptide-12 is also being studied for its possible impacts on more global pathways in cellular communication that are related to pigmentation. Researchers are investigating the peptide's potential to influence regulatory proteins, such as microphthalmia-associated transcription factor (MITF), signalling pathways such as cyclic AMP (cAMP), protein kinase A (PKA) and mitogen-activated protein kinases (MAPKs). These pathways, in turn, regulate the expression of pigmentation genes and cellular responses.&nbsp;Secondly, Decapeptide-12 is a rather small molecule and therefore is a good peptide engineering model. The researchers are now able to make very specific changes in the sequences of amino acids and see how this affects the molecule's binding affinity, as well as its specific and biological functions. The modular approach will aid scientists in the design of next-generation peptides in more targeted biochemical research.&nbsp;Decapeptide-12 is proposed to be more specific than many naturally occurring peptides that act on several biological pathways. This type of molecular design is believed to facilitate targeted experimental investigations and is in line with a wider movement in peptide science towards precision research tools.&nbsp;Synthetic peptides are under continued research to gain a deeper understanding of the biology of pigmentation and its molecular regulation, and Decapeptide-12 remains significant. It is a promising case study for the use of engineered peptides to aid biochemical and cellular research due to its specific design and possible interaction with melanogenic pathways, and is still under investigation. The best core peptides research materials online are here: <a href="https://www.corepeptides.com/">https://www.corepeptides.com/</a>&nbsp;The published studies on Decapeptide-12 in journals such as Physiological Reviews, Pigment Cell Research, Journal of Investigative Dermatology, Biochimica et Biophysica Acta (BBA) – General Subjects, and the International Journal of Molecular Sciences have contributed to the scientific understanding of melanogenesis, tyrosinase regulation and pigmentation signalling.&nbsp;Disclaimer: This article is from the Brand Desk. User discretion is advised.

Decapeptide-12 is a synthetic 10-amino-acid peptide researched for its precision targeting of melanogenesis. By regulating tyrosinase, MITF, and cellular signalling pathways, it serves as a model in peptide engineering.

The advent of peptide science has brought with it peptides with extremely targeted interactions with biological pathways. These include a Decapeptide-12 with a proposed function in pigmentation biology. It is a synthetic peptide which may be targeted to melanin synthesis mechanisms and is being evaluated as a research tool to better understand melanin synthesis molecular regulation. It has been speculated to have selective interactions with melanogenic pathways, and has been used as a valuable subject in peptide engineering, molecular biology and cellular signalling research. What are peptides? Peptides are short chains of amino acids, and are basic signalling molecules in biological systems. They are smaller and easier to manipulate, so they might be able to be engineered to bind to a specific receptor, enzyme or cellular pathway. This versatility has led to the increasing importance of synthetic peptides in the laboratory, where they are used to investigate biological processes and to develop new molecular models for scientific research. A synthetic peptide is one of these, known as Decapeptide-12. It consists of 10 amino acids that are designed to bind to the key regulators of melanogenesis (melanin production). It is thought that its structure may allow it to interact selectively with enzymes that are associated with pigmentation, notably tyrosinase, which has a major role in the conversion of the amino acid tyrosine to melanin. Tyrosinase has been consistently found to be one of the important control points in pigmentation biology from scientific literature. The regulation of tyrosinase has been highlighted in reviews that appeared in Physiological Reviews, Biochimica et Biophysica Acta and the International Journal of Molecular Sciences in the field of understanding melanogenesis and pigment-related cellular mechanisms. In addition to tyrosinase, Decapeptide-12 is also being studied for its possible impacts on more global pathways in cellular communication that are related to pigmentation. Researchers are investigating the peptide's potential to influence regulatory proteins, such as microphthalmia-associated transcription factor (MITF), signalling pathways such as cyclic AMP (cAMP), protein kinase A (PKA) and mitogen-activated protein kinases (MAPKs). These pathways, in turn, regulate the expression of pigmentation genes and cellular responses. Secondly, Decapeptide-12 is a rather small molecule and therefore is a good peptide engineering model. The researchers are now able to make very specific changes in the sequences of amino acids and see how this affects the molecule's binding affinity, as well as its specific and biological functions. The modular approach will aid scientists in the design of next-generation peptides in more targeted biochemical research. Decapeptide-12 is proposed to be more specific than many naturally occurring peptides that act on several biological pathways. This type of molecular design is believed to facilitate targeted experimental investigations and is in line with a wider movement in peptide science towards precision research tools. Synthetic peptides are under continued research to gain a deeper understanding of the biology of pigmentation and its molecular regulation, and Decapeptide-12 remains significant. It is a promising case study for the use of engineered peptides to aid biochemical and cellular research due to its specific design and possible interaction with melanogenic pathways, and is still under investigation. The best core peptides research materials online are here: https://www.corepeptides.com/ The published studies on Decapeptide-12 in journals such as Physiological Reviews, Pigment Cell Research, Journal of Investigative Dermatology, Biochimica et Biophysica Acta (BBA) – General Subjects, and the International Journal of Molecular Sciences have contributed to the scientific understanding of melanogenesis, tyrosinase regulation and pigmentation signalling. Disclaimer: This article is from the Brand Desk. User discretion is advised.

Decapeptide-12 is a synthetic 10-amino-acid peptide researched for its precision targeting of melanogenesis. By regulating tyrosinase, MITF, and cellular signalling pathways, it serves as a model in peptide engineering.

Decapeptide-12: Unveiling a precision peptide in pigmentation research

Everything that holds attention has been on trial in the United States lately, thanks to the high cost of a courtroom battle. There are already some users who are already casting their votes with their thumbs and they are searching for a platform that asks less from them.&nbsp;&nbsp;Meta will face a claim in its US federal court trial in August that would have seemed ridiculous 10 years ago: that it designed Facebook and Instagram to be essentially "hard to put down. The case is being filed by a coalition of at least 40 attorneys general, including California, Colorado, Kentucky and New Jersey and 29 other states, which are asking for a maximum fine of 1.4 trillion dollars. To put this in perspective, that's nearly the entire market value of Meta.&nbsp;&nbsp;These are accusations, and they're denied by Meta. The company says that was done by multiplying tens of millions of teen users with the highest possible penalty it could impose, even if during any given time period a particular teen didn't use the features at issue. It also has noted that no unfair-practices or child-privacy case ever has appeared anywhere close to a trillion dollars—a figure reached in the tobacco settlement in 2006, which represented a typical proportion. A judge, and subsequently a jury, will determine the justices.&nbsp;&nbsp;The real interesting part of the case is not the headliner. It's under it. It's not a complaint against a single company. Here it's a collection of design decisions that are embedded in virtually every app on the typical phone.&nbsp;&nbsp;Consider functionality, not brands. The never-ending feed. The next one video that you see before you even know that you want to watch it. The recommendation system that analyzes yesterday's browsing behavior and recommends more of the same today. The call to come back. The punishment for failing to attend class once. Brief snippets of video that are a couple seconds each, and each designed to make you stay for one more second. What is not unique about this is that none of it is from Meta. It's the common language of social media these days.&nbsp;&nbsp;This sense of unease has already tempted some to leave the sites. A small group of alternative networks has been emerging, including mewe, Mastodon and Bluesky — and they are attracting just the sort of users that the big platforms tend to lose: those who feel disenfranchised, unwelcome or simply fed up with the big platforms that harvest their data to serve them a steady diet of ads. None of these players are anywhere near the size of the incumbents. What they provide is something else. They provide an arrangement in which the person taking advantage of the service is not the product they are selling.&nbsp;Instagram and Facebook are based on personalised feeds and social validation. Tiktok made the "For You" feed, the hyper-personalised feed, a focal point of their whole experience, then everyone else did. To keep the session going, YouTube's autoplay and suggestions are designed in this way. There are streaks and there's the consistent drip of notifications on Snapchat. X and Threads rank posts based on what is most likely to elicit a response. To pretend all this is bad, is unfair. A good recommendation can lead you to know a musician that you now love or even a support group that you needed or a corner in the world that you would never have known on your own. The more honest question is whether these systems allow people to have enough influence over what they see without them being largely geared to propsing that they keep the session going a bit longer.&nbsp;&nbsp;The implications for us are yet to be determined, and there's no time for hyperbole. It's no accident that phrases such as doomscrolling or social-media fatigue have become part of everyday language. They say that they feel overstimulated, scattered, exhausted from a feed that brings up the same anxieties continually. Others are conscious of the quiet buzz of performance, the counting of likes and followers, of knowing that being online is a performance that is evaluated. The key is that you'll want to keep the difference between reaching for the phone to talk to someone, versus reaching for the phone out of habit, then looking at it forty minutes later and wondering what you did.&nbsp;&nbsp;Follow the money and the tension becomes more clear. For an ad-funded platform, attention is inventory. The longer you spend on the platform, the more information you will generate, the more accurately you will be targeted, and the more the platform will generate profits. Not all algorithms are villains. A ranking system is just a piece of software and will optimize for whatever it's told to optimize for. The issue is that when the parameter it is instructed to maximize, time on the app, quietly tugs against the reason the user visited the app. When the incentive is to stay connected, it doesn't seem like the business has much to say about "put the phone down and go to bed.&nbsp;&nbsp;mewe is a social network where people can create communities, private groups and connections that they want, without an algorithm telling them what connections they must have. This is the opening that a smaller set of networks is trying to walk through and it's the opening that a platform like mewe positions itself in. The company states it does not engage in surveillance advertising and has no personalised feed to optimize engagement. When there is advertising, mewe calls it opt-in, meaning that the user chooses whether or not to participate. It has over 21 million users globally and over 700,000 groups and has started to develop subscription and creator tools, allowing it to monetise, rather than selling its members' behaviour.&nbsp;People still want to connect online, the issue is whether platforms can do that without making everything you do a push to get you even more attention. Social media doesn't have to be oppressive to use.&nbsp;&nbsp;Carlos Betancourt, the Chief Executive Officer, mewe&nbsp;As the aforementioned names indicate, mewe is by no means the only one doing this. Mastodon, which is an open network of independently-run servers, and Bluesky, which is an open protocol designed to grant users more control over their feeds, are going about the initiative in different ways. They have in common a bet that a greater number will want social spaces that offer choice built in, and their time spent quietly optimised away. Even if it wins, that wager is definitely up for question. However, these platforms are small when compared to the incumbents, and ‘less addictive by design' is more difficult to tout than a feed that already knows what you like.&nbsp;&nbsp;However, things might be changing underfoot. Throughout most of social media's existence, people have evaluated a social media site based on its size and its features: Who else was there and what could they do when they arrived? Regardless of the outcome of the Meta trial, a third question is raised. What does the platform do to your attention, your privacy and your information when you don't watch it? However, if sufficient people begin to ask that before they join, the quieter networks will not have to win. They will just have to provide the solution that some people were seeking.&nbsp;

Everything that holds attention has been on trial in the United States lately, thanks to the high cost of a courtroom battle. There are already some users who are already casting their votes with their thumbs and they are searching for a platform that asks less from them. 

Everything that holds attention has been on trial in the United States lately, thanks to the high cost of a courtroom battle. There are already some users who are already casting their votes with their thumbs and they are searching for a platform that asks less from them. Meta will face a claim in its US federal court trial in August that would have seemed ridiculous 10 years ago: that it designed Facebook and Instagram to be essentially "hard to put down. The case is being filed by a coalition of at least 40 attorneys general, including California, Colorado, Kentucky and New Jersey and 29 other states, which are asking for a maximum fine of 1.4 trillion dollars. To put this in perspective, that's nearly the entire market value of Meta. These are accusations, and they're denied by Meta. The company says that was done by multiplying tens of millions of teen users with the highest possible penalty it could impose, even if during any given time period a particular teen didn't use the features at issue. It also has noted that no unfair-practices or child-privacy case ever has appeared anywhere close to a trillion dollars—a figure reached in the tobacco settlement in 2006, which represented a typical proportion. A judge, and subsequently a jury, will determine the justices. The real interesting part of the case is not the headliner. It's under it. It's not a complaint against a single company. Here it's a collection of design decisions that are embedded in virtually every app on the typical phone. Consider functionality, not brands. The never-ending feed. The next one video that you see before you even know that you want to watch it. The recommendation system that analyzes yesterday's browsing behavior and recommends more of the same today. The call to come back. The punishment for failing to attend class once. Brief snippets of video that are a couple seconds each, and each designed to make you stay for one more second. What is not unique about this is that none of it is from Meta. It's the common language of social media these days. This sense of unease has already tempted some to leave the sites. A small group of alternative networks has been emerging, including mewe, Mastodon and Bluesky — and they are attracting just the sort of users that the big platforms tend to lose: those who feel disenfranchised, unwelcome or simply fed up with the big platforms that harvest their data to serve them a steady diet of ads. None of these players are anywhere near the size of the incumbents. What they provide is something else. They provide an arrangement in which the person taking advantage of the service is not the product they are selling. Instagram and Facebook are based on personalised feeds and social validation. Tiktok made the "For You" feed, the hyper-personalised feed, a focal point of their whole experience, then everyone else did. To keep the session going, YouTube's autoplay and suggestions are designed in this way. There are streaks and there's the consistent drip of notifications on Snapchat. X and Threads rank posts based on what is most likely to elicit a response. To pretend all this is bad, is unfair. A good recommendation can lead you to know a musician that you now love or even a support group that you needed or a corner in the world that you would never have known on your own. The more honest question is whether these systems allow people to have enough influence over what they see without them being largely geared to propsing that they keep the session going a bit longer. The implications for us are yet to be determined, and there's no time for hyperbole. It's no accident that phrases such as doomscrolling or social-media fatigue have become part of everyday language. They say that they feel overstimulated, scattered, exhausted from a feed that brings up the same anxieties continually. Others are conscious of the quiet buzz of performance, the counting of likes and followers, of knowing that being online is a performance that is evaluated. The key is that you'll want to keep the difference between reaching for the phone to talk to someone, versus reaching for the phone out of habit, then looking at it forty minutes later and wondering what you did. Follow the money and the tension becomes more clear. For an ad-funded platform, attention is inventory. The longer you spend on the platform, the more information you will generate, the more accurately you will be targeted, and the more the platform will generate profits. Not all algorithms are villains. A ranking system is just a piece of software and will optimize for whatever it's told to optimize for. The issue is that when the parameter it is instructed to maximize, time on the app, quietly tugs against the reason the user visited the app. When the incentive is to stay connected, it doesn't seem like the business has much to say about "put the phone down and go to bed. mewe is a social network where people can create communities, private groups and connections that they want, without an algorithm telling them what connections they must have. This is the opening that a smaller set of networks is trying to walk through and it's the opening that a platform like mewe positions itself in. The company states it does not engage in surveillance advertising and has no personalised feed to optimize engagement. When there is advertising, mewe calls it opt-in, meaning that the user chooses whether or not to participate. It has over 21 million users globally and over 700,000 groups and has started to develop subscription and creator tools, allowing it to monetise, rather than selling its members' behaviour. People still want to connect online, the issue is whether platforms can do that without making everything you do a push to get you even more attention. Social media doesn't have to be oppressive to use. Carlos Betancourt, the Chief Executive Officer, mewe As the aforementioned names indicate, mewe is by no means the only one doing this. Mastodon, which is an open network of independently-run servers, and Bluesky, which is an open protocol designed to grant users more control over their feeds, are going about the initiative in different ways. They have in common a bet that a greater number will want social spaces that offer choice built in, and their time spent quietly optimised away. Even if it wins, that wager is definitely up for question. However, these platforms are small when compared to the incumbents, and ‘less addictive by design' is more difficult to tout than a feed that already knows what you like. However, things might be changing underfoot. Throughout most of social media's existence, people have evaluated a social media site based on its size and its features: Who else was there and what could they do when they arrived? Regardless of the outcome of the Meta trial, a third question is raised. What does the platform do to your attention, your privacy and your information when you don't watch it? However, if sufficient people begin to ask that before they join, the quieter networks will not have to win. They will just have to provide the solution that some people were seeking.

Everything that holds attention has been on trial in the United States lately, thanks to the high cost of a courtroom battle. There are already some users who are already casting their votes with their thumbs and they are searching for a platform that asks less from them.&nbsp;

A more subdued form of social media is making its pitch as Meta faces trial for 'addictive' design

The UK economy could slip into contraction in 2027 if the Strait of Hormuz remains closed into next year, according to EY, which warned that a prolonged disruption to one of the world’s busiest energy routes could reignite inflation and derail Britain’s fragile economic recovery. In its recent forecast, the accounting firm said the outlook for the British economy would depend largely on how quickly shipping resumes through the strategically important waterway, which carries a significant share of global crude oil and liquefied natural gas supplies.&nbsp;EY said that if the Strait of Hormuz reopens by the end of September, the UK economy is expected to grow by 0.8 per cent in 2026 and 1.2 per cent in 2027. However, if the disruption continues into early or mid-2027, economic growth would slow to 0.5 per cent in 2026 before the economy contracts by 0.2 per cent the following year.&nbsp;Also read: <a href="https://www.wionews.com/world/a-kind-of-madness-iran-vows-to-target-israeli-and-us-energy-infrastructure-if-attacked-as-trump-weighs-fresh-strikes-1785537054828">'A kind of madness': Iran vows to target Israeli and US energy infrastructure if attacked as Trump weighs fresh strikes</a>&nbsp;“If the Strait of Hormuz reopens in the coming months, we expect the UK to avoid a more pronounced downturn, but an extended closure into 2027 would raise inflation and could push the economy into contraction next year,” Peter Arnold, EY UK Chief Economist, said.<h2>Inflation fears mount - What's ahead?</h2>EY warned that a prolonged shutdown of the Strait could trigger another surge in energy prices, raising costs for businesses and households while putting fresh upward pressure on inflation.Under its extended disruption scenario, the firm expects UK inflation to climb to 6.4 per cent by the end of 2026. By comparison, inflation would peak at 3.5 per cent if shipping through the Strait resumes within the next few months.&nbsp;Higher energy prices would also weaken consumer spending and business investment, making it more difficult for the economy to regain momentum, EY said.<h2>Bank of England outlook more optimistic</h2>EY’s assessment is more pessimistic than the Bank of England’s latest adverse scenario.The central bank modelled a situation in which oil and gas prices remain between 30 and 60 per cent above market expectations. Even under those conditions, it projected the UK economy would continue to grow by close to 1 per cent next year, with quarterly inflation peaking at 4.5 per cent.&nbsp;Also read: <a href="https://www.wionews.com/world/is-trump-preparing-to-hit-iran-again-pentagon-says-it-is-locked-and-loaded-as-us-weighs-fresh-strikes-1785536078708">Is Trump preparing to hit Iran again? Pentagon says it is 'locked and loaded' as US weighs fresh strikes</a>&nbsp;EY also expects the Bank of England to leave interest rates unchanged throughout 2026 before beginning to ease monetary policy in 2027.

EY warns prolonged closure of the Strait of Hormuz into 2027 could push the UK economy into contraction, trigger 6.4 per cent inflation, and derail fragile economic growth.

The UK economy could slip into contraction in 2027 if the Strait of Hormuz remains closed into next year, according to EY, which warned that a prolonged disruption to one of the world’s busiest energy routes could reignite inflation and derail Britain’s fragile economic recovery. In its recent forecast, the accounting firm said the outlook for the British economy would depend largely on how quickly shipping resumes through the strategically important waterway, which carries a significant share of global crude oil and liquefied natural gas supplies. EY said that if the Strait of Hormuz reopens by the end of September, the UK economy is expected to grow by 0.8 per cent in 2026 and 1.2 per cent in 2027. However, if the disruption continues into early or mid-2027, economic growth would slow to 0.5 per cent in 2026 before the economy contracts by 0.2 per cent the following year. Also read: 'A kind of madness': Iran vows to target Israeli and US energy infrastructure if attacked as Trump weighs fresh strikes “If the Strait of Hormuz reopens in the coming months, we expect the UK to avoid a more pronounced downturn, but an extended closure into 2027 would raise inflation and could push the economy into contraction next year,” Peter Arnold, EY UK Chief Economist, said. Inflation fears mount - What's ahead? EY warned that a prolonged shutdown of the Strait could trigger another surge in energy prices, raising costs for businesses and households while putting fresh upward pressure on inflation. Under its extended disruption scenario, the firm expects UK inflation to climb to 6.4 per cent by the end of 2026. By comparison, inflation would peak at 3.5 per cent if shipping through the Strait resumes within the next few months. Higher energy prices would also weaken consumer spending and business investment, making it more difficult for the economy to regain momentum, EY said. Bank of England outlook more optimistic EY’s assessment is more pessimistic than the Bank of England’s latest adverse scenario. The central bank modelled a situation in which oil and gas prices remain between 30 and 60 per cent above market expectations. Even under those conditions, it projected the UK economy would continue to grow by close to 1 per cent next year, with quarterly inflation peaking at 4.5 per cent. Also read: Is Trump preparing to hit Iran again? Pentagon says it is 'locked and loaded' as US weighs fresh strikes EY also expects the Bank of England to leave interest rates unchanged throughout 2026 before beginning to ease monetary policy in 2027.

EY warns prolonged closure of the Strait of Hormuz into 2027 could push the UK economy into contraction, trigger 6.4 per cent inflation, and derail fragile economic growth.

Britain's economy on thin ice if Hormuz stays shut, EY issues stark warning. Details inside

Zee Entertainment Enterprises Ltd (‘Z’)—the country’s leading content and technology powerhouse—said on Sunday it believes that its fund-raising exercise will not be directly impacted by market regulator SEBI’s order barring two of its promoters. The company is seeking legal advice on the order and will take all required steps to successfully complete the fund-raising exercise, aimed at strengthening its financial foundation, said a spokesperson.&nbsp;The SEBI order has no direct bearing on the fund-raising exercise, the spokesperson added.&nbsp;The statement comes two days after shareholders approved the company’s Rs 3,143.5 crore preferential warrant issue and ESOP proposals at the extraordinary general meeting (EGM) held on July 31.&nbsp;&nbsp;Just hours after the shareholder approval, market regulator SEBI issued an order barring promoters Dr Subhash Chandra and Punit Goenka over alleged unauthorised pledge of the company’s Hyderabad land to secure certain promoter-linked loans.“The Company is in receipt of the order issued by the Securities and Exchange Board of India (SEBI) and is seeking advice from legal experts on the same,” the ZEEL spokesperson said.&nbsp;“The Company firmly believes that the order from SEBI has no direct bearing on the fund-raising exercise.”‘Z’ also said that pursuant to regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.The development triggered a legal debate over whether the SEBI order could affect the company’s proposed capital raising, with most experts being of the view that the fund raise may not necessarily be derailed.&nbsp;<h2>ZEEL fund raise approval and SEBI ban: What is the matter?</h2>&nbsp;At the recent EGM, ‘Z’ shareholders approved the issue of 24,94,85,563 fully convertible warrants to a promoter group entity on a preferential basis at Rs 126 per warrant.The proposed transaction is likely to bring in around Rs 3,143.5 crore into the company and eventually take the total promoter shareholding to 23.79 per cent.The shareholders also approved the ‘Truly Yours’ Employee Stock Option Plan (ESOP), involving 3,74,22,835 stock options for eligible employees and employees of subsidiary companies.SEBI’s order against two promoters came shortly after the shareholder approvals.&nbsp;<h2>What do legal experts say?&nbsp;</h2>&nbsp;Securities lawyer Chirag Shah said the timing of the SEBI order and ZEEL’s shareholder approval was unusual, but also emphasised that “all the requirements under company law have already been met”.He noted that shareholders had already approved the fund raise overwhelmingly and so ZEEL should approach SEBI for a positive view, highlighting the company’s growth requirements.“In my view, the company should be approaching SEBI” with the point that the resolutions approved at the EGM had already been shared with stock exchanges as required under LODR, Shah said.&nbsp;He said SEBI would take cognisance of the approvals and could possibly provide “some kind of forbearance” to allow the fund raise to proceed.Shah expressed confidence that SAT could consider the matter if immediate relief is required.Pavan Kumar Vijay, founder of Corporate Professionals, said the SEBI order does not automatically end the capital-raising process, though stock exchange approval could pose a hurdle.

‘Z’ said it believes its fund-raising exercise will not be impacted by market regulator SEBI’s order, and following regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.

Zee Entertainment Enterprises Ltd (‘Z’)—the country’s leading content and technology powerhouse—said on Sunday it believes that its fund-raising exercise will not be directly impacted by market regulator SEBI’s order barring two of its promoters. The company is seeking legal advice on the order and will take all required steps to successfully complete the fund-raising exercise, aimed at strengthening its financial foundation, said a spokesperson. The SEBI order has no direct bearing on the fund-raising exercise, the spokesperson added. The statement comes two days after shareholders approved the company’s Rs 3,143.5 crore preferential warrant issue and ESOP proposals at the extraordinary general meeting (EGM) held on July 31. Just hours after the shareholder approval, market regulator SEBI issued an order barring promoters Dr Subhash Chandra and Punit Goenka over alleged unauthorised pledge of the company’s Hyderabad land to secure certain promoter-linked loans. “The Company is in receipt of the order issued by the Securities and Exchange Board of India (SEBI) and is seeking advice from legal experts on the same,” the ZEEL spokesperson said. “The Company firmly believes that the order from SEBI has no direct bearing on the fund-raising exercise.” ‘Z’ also said that pursuant to regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise. The development triggered a legal debate over whether the SEBI order could affect the company’s proposed capital raising, with most experts being of the view that the fund raise may not necessarily be derailed. ZEEL fund raise approval and SEBI ban: What is the matter? At the recent EGM, ‘Z’ shareholders approved the issue of 24,94,85,563 fully convertible warrants to a promoter group entity on a preferential basis at Rs 126 per warrant. The proposed transaction is likely to bring in around Rs 3,143.5 crore into the company and eventually take the total promoter shareholding to 23.79 per cent. The shareholders also approved the ‘Truly Yours’ Employee Stock Option Plan (ESOP), involving 3,74,22,835 stock options for eligible employees and employees of subsidiary companies. SEBI’s order against two promoters came shortly after the shareholder approvals. What do legal experts say? Securities lawyer Chirag Shah said the timing of the SEBI order and ZEEL’s shareholder approval was unusual, but also emphasised that “all the requirements under company law have already been met”. He noted that shareholders had already approved the fund raise overwhelmingly and so ZEEL should approach SEBI for a positive view, highlighting the company’s growth requirements. “In my view, the company should be approaching SEBI” with the point that the resolutions approved at the EGM had already been shared with stock exchanges as required under LODR, Shah said. He said SEBI would take cognisance of the approvals and could possibly provide “some kind of forbearance” to allow the fund raise to proceed. Shah expressed confidence that SAT could consider the matter if immediate relief is required. Pavan Kumar Vijay, founder of Corporate Professionals, said the SEBI order does not automatically end the capital-raising process, though stock exchange approval could pose a hurdle.

‘Z’ said it believes its fund-raising exercise will not be impacted by market regulator SEBI’s order, and following regulatory approvals received from the stock exchanges and shareholders at the EGM, it will take all required steps to complete the fund-raising exercise.

‘Z’ says no direct bearing of SEBI order on Rs 3,143.5 crore fund-raise, will take needed steps to complete exercise

India is "closely monitoring" a proposed US law that could impose tariffs of up to 100 per cent on countries purchasing Russian oil and gas, the Ministry of External Affairs (MEA) said on Friday (Jul 31), after the legislation cleared the US Senate. Addressing the weekly media briefing, MEA spokesperson Randhir Jaiswal said New Delhi was keeping a close watch on developments in Washington while continuing to engage with US authorities on the issue. "We are closely monitoring the developments," Jaiswal said.Also read | <a href="https://www.wionews.com/india-news/india-avoids-higher-us-tariff-secures-lower-10-rate-here-s-how-1784854529326">India avoids higher US tariff, secures lower 10% rate. Here's how</a><h2>India's security needs come first</h2>Reiterating India's long-standing position on energy imports, he stressed that the country's decisions are driven by its energy security needs and national priorities."On energy security, our position has been clarified and very well articulated on several occasions. It is something which is predicated on our national priorities and on securing the energy needs of our 1.4 billion people through diversified sources, which includes the US," he said.Jaiswal added that India remains in touch with relevant stakeholders in the United States regarding the proposed legislation. "We remain engaged with relevant stakeholders in the US at various levels on this particular matter," he said.Also read | <a href="https://www.wionews.com/world/us-says-trade-deal-with-india-is-very-very-close-what-s-holding-it-up-wion-decodes-1782280167960">US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes</a><h2>Why does the US want to impose a 100% tariff on India?</h2>The US is not targeting India solely. The comments come after the US Senate passed the Sanctioning Russia and Iran Act of 2026 by an 86-12 vote. The bill will now move to the House of Representatives for consideration.If approved and signed into law, the legislation would give US President Donald Trump the authority to impose both primary and secondary sanctions on Russia and entities supporting its economy.It also proposes tariffs of up to 100 per cent on imports from countries that purchase significant volumes of Russian oil and gas or assist Moscow in circumventing sanctions.Under Section 113 of the proposed legislation, the punitive tariffs could apply to the five largest importers of Russian energy, currently identified as India, China, Slovakia, Hungary and Azerbaijan. The bill also targets countries involved in facilitating Russia's so-called "shadow fleet" used to transport sanctioned oil.Additionally, the proposed law requires the US Trade Representative to review the world's largest buyers of Russian hydrocarbons every 180 days, allowing Washington to adjust tariff measures based on changing import patterns.The legislation is part of Washington's broader effort to increase economic pressure on Moscow while discouraging countries from continuing large-scale purchases of Russian energy.

India has said it is "closely monitoring" a proposed US law that could impose tariffs of up to 100% on countries importing significant volumes of Russian oil and gas. The legislation, which has cleared the US Senate, now heads to the House of Representatives.

India is "closely monitoring" a proposed US law that could impose tariffs of up to 100 per cent on countries purchasing Russian oil and gas, the Ministry of External Affairs (MEA) said on Friday (Jul 31), after the legislation cleared the US Senate. Addressing the weekly media briefing, MEA spokesperson Randhir Jaiswal said New Delhi was keeping a close watch on developments in Washington while continuing to engage with US authorities on the issue. "We are closely monitoring the developments," Jaiswal said. Also read | India avoids higher US tariff, secures lower 10% rate. Here's how India's security needs come first Reiterating India's long-standing position on energy imports, he stressed that the country's decisions are driven by its energy security needs and national priorities. "On energy security, our position has been clarified and very well articulated on several occasions. It is something which is predicated on our national priorities and on securing the energy needs of our 1.4 billion people through diversified sources, which includes the US," he said. Jaiswal added that India remains in touch with relevant stakeholders in the United States regarding the proposed legislation. "We remain engaged with relevant stakeholders in the US at various levels on this particular matter," he said. Also read | US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes Why does the US want to impose a 100% tariff on India? The US is not targeting India solely. The comments come after the US Senate passed the Sanctioning Russia and Iran Act of 2026 by an 86-12 vote. The bill will now move to the House of Representatives for consideration. If approved and signed into law, the legislation would give US President Donald Trump the authority to impose both primary and secondary sanctions on Russia and entities supporting its economy. It also proposes tariffs of up to 100 per cent on imports from countries that purchase significant volumes of Russian oil and gas or assist Moscow in circumventing sanctions. Under Section 113 of the proposed legislation, the punitive tariffs could apply to the five largest importers of Russian energy, currently identified as India, China, Slovakia, Hungary and Azerbaijan. The bill also targets countries involved in facilitating Russia's so-called "shadow fleet" used to transport sanctioned oil. Additionally, the proposed law requires the US Trade Representative to review the world's largest buyers of Russian hydrocarbons every 180 days, allowing Washington to adjust tariff measures based on changing import patterns. The legislation is part of Washington's broader effort to increase economic pressure on Moscow while discouraging countries from continuing large-scale purchases of Russian energy.

India has said it is "closely monitoring" a proposed US law that could impose tariffs of up to 100% on countries importing significant volumes of Russian oil and gas. The legislation, which has cleared the US Senate, now heads to the House of Representatives.

Buying Russian oil could cost India dearly? MEA breaks silence on US 100% tariff bill

Mumbai: Zee Entertainment Enterprises Ltd (‘Z’) – the country’s leading content and technology powerhouse – on Friday secured the requisite support of its shareholders for the resolution to issue fully convertible warrants to a promoter group entity on a preferential basis.Shareholders present at the media giant’s extraordinary general meeting (EGM) also approved the resolutions to implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) for the Human Capital of ‘Z’ and its subsidiary companies.&nbsp;In a regulatory filing, ‘Z’ said the approvals for all the resolutions mark a firm step forward for the company in strengthening its financial foundation to pursue value-accretive opportunities and build a robust trajectory for the future.&nbsp;'Z' said it garnered unequivocal support from its shareholders, reinforcing their confidence in the company’s strategic growth aspirations and its ability to generate higher value going forward.&nbsp;&nbsp;It further said in the filing that the trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value generation in the future.&nbsp;As a result, the company will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.&nbsp;The approval will further enable ‘Z’ to accelerate its growth plans and enhance long-term value creation, in an increasingly competitive and evolving entertainment landscape.&nbsp;&nbsp;<h2>Promoter warrants</h2>&nbsp;Following the approval, ‘Z’ will issue 24,94,85,563 warrants to promoter group entity on a preferential basis, at Rs. 126 per warrant.The promoters will invest Rs. 3143.5 crores in the company, eventually increasing total promoter shareholding to 23.79%.&nbsp;<h2>‘Truly Yours’ Employee Stock Option Plan</h2>&nbsp;‘Z’ will also implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) by granting 3,74,22,835 stock options to eligible employees of ‘Z’ and its subsidiary companies, having face value of Re. 1/- each, in one or more tranches.&nbsp;The approval of both key resolutions reinforces the shareholders’ confidence in the company’s long-term potential and ensures leadership continuity with enhanced promoter skin in the game.&nbsp;&nbsp;The trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value-generation in future and enables the human capital to participate meaningfully in the company’s growth journey, as true co-owners.The ESOP framework aligns the growth ambitions of the company’s talent with the long-term shareholder aspirations to ensure sustained value-creation for all stakeholders.&nbsp;<h2>Management speak</h2>&nbsp;R. Gopalan, Chairman, Zee Entertainment Enterprises Ltd. expressed his gratitude towards the shareholders and said, “This approval is a clear reflection of the shareholders’ belief in the company and its management. The Board’s decision and the subsequent shareholder approval, to enhance the foundation and resilience of the company through promoter fund infusion, will further enable ‘Z’ to stay ahead of competition and generate higher value for all its stakeholders.”&nbsp;“I would also like to thank the shareholders for recognizing the immense contributions of ‘Z’s Human Capital and approving the Employee Stock Option Plan, that will only spur higher innovation and accountability to drive the Company forward. The Board firmly believes that robust growth capital coupled with enhanced promoter alignment, will serve as key enablers in ensuring long-term profitability in a dynamic business environment,” he added.&nbsp;“With the approval of the key resolutions, the Company is on a furthermore solid footing to execute its future growth plans effectively,” Gopalan said further.&nbsp;The company said that the whole-hearted support of the shareholders on the board decisions enables it to take the necessary steps forward to achieve its strategic growth ambitions.&nbsp;In its previous meetings, the Board of Directors had reviewed the Company’s growth plans for the future.&nbsp;&nbsp;‘Z’ has presence in more than 190 countries and a reach of over 1.4 billion people across the globe. It brings diverse stories and experiences to life through linear television, digital platforms, movies, music and live entertainment across languages.

After the approval of resolutions by shareholders, ‘Z’ will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.

Mumbai: Zee Entertainment Enterprises Ltd (‘Z’) – the country’s leading content and technology powerhouse – on Friday secured the requisite support of its shareholders for the resolution to issue fully convertible warrants to a promoter group entity on a preferential basis. Shareholders present at the media giant’s extraordinary general meeting (EGM) also approved the resolutions to implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) for the Human Capital of ‘Z’ and its subsidiary companies. In a regulatory filing, ‘Z’ said the approvals for all the resolutions mark a firm step forward for the company in strengthening its financial foundation to pursue value-accretive opportunities and build a robust trajectory for the future. 'Z' said it garnered unequivocal support from its shareholders, reinforcing their confidence in the company’s strategic growth aspirations and its ability to generate higher value going forward. It further said in the filing that the trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value generation in the future. As a result, the company will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments. The approval will further enable ‘Z’ to accelerate its growth plans and enhance long-term value creation, in an increasingly competitive and evolving entertainment landscape. Promoter warrants Following the approval, ‘Z’ will issue 24,94,85,563 warrants to promoter group entity on a preferential basis, at Rs. 126 per warrant. The promoters will invest Rs. 3143.5 crores in the company, eventually increasing total promoter shareholding to 23.79%. ‘Truly Yours’ Employee Stock Option Plan ‘Z’ will also implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) by granting 3,74,22,835 stock options to eligible employees of ‘Z’ and its subsidiary companies, having face value of Re. 1/- each, in one or more tranches. The approval of both key resolutions reinforces the shareholders’ confidence in the company’s long-term potential and ensures leadership continuity with enhanced promoter skin in the game. The trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value-generation in future and enables the human capital to participate meaningfully in the company’s growth journey, as true co-owners. The ESOP framework aligns the growth ambitions of the company’s talent with the long-term shareholder aspirations to ensure sustained value-creation for all stakeholders. Management speak R. Gopalan, Chairman, Zee Entertainment Enterprises Ltd. expressed his gratitude towards the shareholders and said, “This approval is a clear reflection of the shareholders’ belief in the company and its management. The Board’s decision and the subsequent shareholder approval, to enhance the foundation and resilience of the company through promoter fund infusion, will further enable ‘Z’ to stay ahead of competition and generate higher value for all its stakeholders.” “I would also like to thank the shareholders for recognizing the immense contributions of ‘Z’s Human Capital and approving the Employee Stock Option Plan, that will only spur higher innovation and accountability to drive the Company forward. The Board firmly believes that robust growth capital coupled with enhanced promoter alignment, will serve as key enablers in ensuring long-term profitability in a dynamic business environment,” he added. “With the approval of the key resolutions, the Company is on a furthermore solid footing to execute its future growth plans effectively,” Gopalan said further. The company said that the whole-hearted support of the shareholders on the board decisions enables it to take the necessary steps forward to achieve its strategic growth ambitions. In its previous meetings, the Board of Directors had reviewed the Company’s growth plans for the future. ‘Z’ has presence in more than 190 countries and a reach of over 1.4 billion people across the globe. It brings diverse stories and experiences to life through linear television, digital platforms, movies, music and live entertainment across languages.

After the approval of resolutions by shareholders, ‘Z’ will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.

‘Z’ shareholders approve resolutions for promoter warrants, ESOP at EGM

The US Federal Reserve left interest rates unchanged on Wednesday (July 29) for a fifth consecutive meeting, but growing inflation concerns linked to the Iran war led three policymakers to back a quarter percentage-point increase in borrowing costs. The Federal Open Market Committee (FOMC), the Fed's rate-setting panel, voted to keep the benchmark interest rate in the 3.50 per cent to 3.75 per cent range, a decision that financial markets had widely expected.&nbsp;However, the outcome revealed a sharper divide among policymakers as inflation risks resurfaced following higher energy and commodity prices triggered by President Donald Trump's war on Iran.Fed Chair Kevin Warsh said the US economy remained resilient in terms of employment, but inflation continued to be a major concern.&nbsp;Also read: <a href="https://www.wionews.com/world/we-re-going-to-be-hitting-them-very-hard-trump-vows-heavy-strike-after-us-intercepts-iranian-missile-attack-1785353856416">‘We're going to be hitting them very hard’: Trump vows heavy strike after US intercepts Iranian missile attack</a>&nbsp;"We're doing pretty well collectively as a country, as policymakers on the full employment side," Warsh said after the meeting. "But we're doing considerably less well on prices. That's why we describe them as elevated and that's what's taken most of our discussion in terms of transmission mechanisms of monetary policy," he added.&nbsp;According to the Fed, nine of the 12 policymakers believed the current interest rate was appropriate for the economy. However, officials from the Cleveland, Dallas and Minneapolis Federal Reserve banks dissented, arguing that rates should be raised by 0.25 percentage points to counter rising inflation.&nbsp;Also read: <a href="https://www.wionews.com/world/he-wants-me-to-stay-involved-trump-says-netanyahu-publicised-iran-intel-to-keep-us-engaged-1785282887695">'He wants me to stay involved': Trump says Netanyahu publicised Iran intel to keep US engaged</a>&nbsp;The three policymakers had also favoured a more restrictive monetary policy at the Fed's previous meeting.&nbsp;US inflation eased to an annual rate of 3.5 per cent last month, but economists expect price pressures to intensify again as oil prices fluctuate due to the conflict involving Iran. The rise in energy costs has also contributed to higher global food prices, adding to inflationary pressures.&nbsp;

The US Federal Reserve maintained benchmark interest rates at 3.50 per cent–3.75 per cent, but a three-vote dissent favored a quarter-point hike due to rising inflation driven by energy costs from the Iran war.

The US Federal Reserve left interest rates unchanged on Wednesday (July 29) for a fifth consecutive meeting, but growing inflation concerns linked to the Iran war led three policymakers to back a quarter percentage-point increase in borrowing costs. The Federal Open Market Committee (FOMC), the Fed's rate-setting panel, voted to keep the benchmark interest rate in the 3.50 per cent to 3.75 per cent range, a decision that financial markets had widely expected. However, the outcome revealed a sharper divide among policymakers as inflation risks resurfaced following higher energy and commodity prices triggered by President Donald Trump's war on Iran. Fed Chair Kevin Warsh said the US economy remained resilient in terms of employment, but inflation continued to be a major concern. Also read: ‘We're going to be hitting them very hard’: Trump vows heavy strike after US intercepts Iranian missile attack "We're doing pretty well collectively as a country, as policymakers on the full employment side," Warsh said after the meeting. "But we're doing considerably less well on prices. That's why we describe them as elevated and that's what's taken most of our discussion in terms of transmission mechanisms of monetary policy," he added. According to the Fed, nine of the 12 policymakers believed the current interest rate was appropriate for the economy. However, officials from the Cleveland, Dallas and Minneapolis Federal Reserve banks dissented, arguing that rates should be raised by 0.25 percentage points to counter rising inflation. Also read: 'He wants me to stay involved': Trump says Netanyahu publicised Iran intel to keep US engaged The three policymakers had also favoured a more restrictive monetary policy at the Fed's previous meeting. US inflation eased to an annual rate of 3.5 per cent last month, but economists expect price pressures to intensify again as oil prices fluctuate due to the conflict involving Iran. The rise in energy costs has also contributed to higher global food prices, adding to inflationary pressures.

The US Federal Reserve maintained benchmark interest rates at 3.50 per cent–3.75 per cent, but a three-vote dissent favored a quarter-point hike due to rising inflation driven by energy costs from the Iran war.

US Fed keeps rates unchanged, but Iran war price pressures trigger unusual split