Indian Rupee Gains on Weak Dollar and RBI Intervention Amid US-Russia Talks and Market Uncertainty
The Indian rupee appreciated by 8 paise to 87.50 against the US dollar in early trade, influenced by a weaker US dollar and anticipation of upcoming US-Russia talks. The Reserve Bank of India intervened by selling dollars to support the rupee. Forex reserves declined by over USD 9 billion in the week ending August 1. Market participants expect the rupee to trade within a narrow range amid uncertainty related to US and Indian inflation data and geopolitical developments. The US-Russia summit scheduled for August 15 is seen as potentially impactful on trade tariffs affecting India. Domestic equity markets showed gains, and foreign institutional investors resumed net buying after several days.

Pakistani Army Chief Calls Kashmir Vital Issue, Warns of Firm Response to Indian Aggression
The Pakistani Army Chief reiterated strong anti-India statements during a speech to the Pakistani diaspora in the US, referring to Kashmir as a vital issue for Pakistan and denying it as an internal matter of India. He emphasized Pakistan's readiness to respond firmly to any Indian aggression, asserting Kashmir remains an unresolved international concern. The visit included high-level meetings with US military officials and discussions on strengthening Pakistan-US relations, including potential trade agreements and investments. The Pakistani Army Chief also highlighted gratitude towards former US leadership for preventing conflict escalation. India rejected the claims, affirming Kashmir as a union territory and attributing military de-escalation to direct bilateral talks without US mediation. The visit marked ongoing diplomatic and military engagement between Pakistan and the US.

Indian Cost Accounts Service Foundation Day 2025 Highlights Tech, Training, and Excellence in Public Financial Management
The Department of Expenditure under the Ministry of Finance held the Indian Cost Accounts Service (ICoAS) Foundation Day 2025, highlighting the service's role in advancing public financial management and economic development. The Secretary of Expenditure emphasized embracing technology, innovation, and capacity building through training programs and the iGoT Karmayogi portal to enhance professional competencies. The event included presentations on ICoAS achievements, infrastructure appraisal, and cybersecurity in governance. Several officers were recognized for exemplary contributions. The celebration underscored ICoAS's integral role in policy formulation, cost management, and efficient public expenditure, reinforcing its commitment to supporting India's economic growth and governance reforms.

US President Weighs Tariffs on China Over Russian Oil Purchases Amid Broader Trade Concerns
The US President has not yet decided whether to impose tariffs on China for purchasing Russian oil, with considerations involving broader US-China relations beyond the Russian oil issue. The administration recently imposed a total 50 percent tariff on another country for similar purchases, drawing strong condemnation from that country's government, which deemed the tariffs unfair and pledged to protect its national interests. The decision regarding China remains under review, with no final determination made.

Municipal Ban on Meat Shops for 24 Hours on Independence Day Upheld Under Local Act Section 15
A municipal corporation issued an order mandating the closure of all licensed meat shops and slaughterhouses for 24 hours on Independence Day, citing public order and tradition. The order, in place annually since 1988, prohibits the sale and slaughter of animals during this period under a municipal act, with penalties for violations. Opposition political leaders challenged the ban, arguing it infringes on individual food choices and cultural dietary practices, particularly among communities with non-vegetarian traditions. They criticized the authorities for imposing restrictions on personal freedoms and demanded administrative accountability. Supporters of the order maintained it is a customary observance and questioned the opposition's objections. The dispute highlights tensions between administrative regulations aimed at public observance and claims of infringement on cultural and individual rights.

Supreme Court to Hear Cases on Steel Company Liquidation, Cash-for-Jobs Scam, and Muslim Divorce Law Validity
The Supreme Court is scheduled to hear multiple significant cases, including a plea to recall the liquidation order of a major steel company, challenges related to a cash-for-jobs scam involving a former minister, and the validity of extrajudicial divorce practices under Muslim personal law. Additionally, the court will consider criminal cases involving a former state chief minister, challenges to the Special Infrastructure Region designation in Bihar by politicians, and a defamation case filed by a Delhi Lieutenant Governor against an activist. The court will also address a suo motu petition concerning public safety issues arising from stray dog bites.

Union government ad spending jumps 84% from 2020-21 to 2024-25, sparking transparency concerns
The Union government's expenditure on advertisements increased by over 84% from 2020-21 to 2024-25, rising from Rs 349.24 crore to Rs 643.63 crore, according to data analyzed by an opposition party from the Directorate of Advertising and Visual Publicity website. The government declined to provide this information directly in Parliament, instead directing members to the website. The opposition criticized this approach as undermining parliamentary transparency. Total advertising expenditure across 66 ministries from 2020-21 to August 2025 amounted to Rs 2,320.14 crore, averaging Rs 454 crore annually. The increase was particularly notable in the pre-election year 2023-24, when spending reached Rs 656.08 crore. The opposition characterized the government's actions as prioritizing public relations over accountability.

Government expands military offensive targeting militants in populated camps amid humanitarian crisis and international outcry
An unnamed government defended an expanded military offensive in a contested territory, targeting militant strongholds beyond initial announcements, including densely populated camps sheltering displaced persons. The government emphasized its objective to dismantle the militant group, assert security control, and establish a non-native civilian administration, denying allegations of starvation policies despite widespread humanitarian crises and significant civilian casualties, including deaths during aid distribution. The operation has drawn international condemnation, with concerns over collective punishment and escalating hostilities voiced by multiple states and UN officials, while a key ally expressed unwavering support. Humanitarian organizations report severe malnutrition deaths, particularly among children, amid displacement and restricted aid access. Domestic opposition includes calls for labor strikes over fears for hostages' safety. The situation remains volatile, with ongoing clashes, contested narratives on civilian harm, and diplomatic tensions regarding military support and humanitarian conditions.

Israeli Government Expands Military Offensive in Gaza to Dismantle Militants, Plans Civilian Administration
The Israeli government has expanded its military offensive in Gaza beyond initial announcements to include additional areas, aiming to dismantle militant strongholds. The government emphasized its objective to defeat the militant group and asserted there is no intent to occupy Gaza but to establish security control and a civilian administration not affiliated with Israel. Despite international criticism and concerns about humanitarian conditions, the government denied policies of starvation and indicated plans to increase aid distribution. It also announced intentions to allow more foreign journalists into Gaza. The militant group rejected the government's statements as false. The situation remains subject to international scrutiny, with ongoing diplomatic discussions and calls for restraint.

19-Year-Old Arrested for Kidnapping, Raping, and Forcible Conversion of Minor Girl Under POCSO and UP Conversion Act
A 19-year-old male was arrested in Kushinagar district on charges of kidnapping, raping, and forcibly converting a 17-year-old Hindu girl. The victim's mother reported the kidnapping, leading to police action and the victim's rescue. The accused allegedly lured the girl to Mumbai, where he converted her religion, raped her, and changed her identity, including issuing a new Aadhaar card under a different name. Charges were filed under various sections related to rape, kidnapping, cheating, criminal intimidation, the Protection of Children from Sexual Offences Act, and the Uttar Pradesh Prohibition of Unlawful Conversion of Religion Act, 2021.

Airline diverts domestic flight due to technical issues and bad weather, promises inspections and alternative travel
An aircraft operating a domestic flight was diverted to an alternate airport due to a suspected technical issue and adverse weather conditions. The airline confirmed the precautionary landing and stated that the aircraft would undergo necessary inspections. Passengers were to be provided with alternative travel arrangements to reach their original destination. The airline acknowledged the inconvenience caused but did not disclose passenger numbers. This incident follows recent reports of similar technical difficulties affecting the airline's fleet.

Municipal Order Closes Meat Shops for 24 Hours on Independence Day Under Local Act Section
A municipal corporation issued an order mandating the closure of all licensed meat shops and slaughterhouses for 24 hours on Independence Day, citing long-standing administrative resolutions aimed at maintaining public order during national occasions. The order threatens action under the relevant municipal act for violations. Opposition political leaders criticized the ban as an infringement on individual food choices and cultural dietary practices, with some threatening symbolic protests to assert food freedom. They argued that dietary habits are integral to cultural identity and questioned the authority of municipal officials to regulate personal consumption on this basis. Supporters of the ban viewed it as a routine administrative measure and dismissed the opposition's objections as mere criticism. The dispute highlights tensions between administrative regulations and claims of personal liberty regarding food consumption during significant public holidays.

Hyderabad Company Executives Booked for Multi-Crore Ponzi Scheme Under Economic Offences Wing FIR
A Hyderabad-based company's top executives have been booked by the Jammu and Kashmir Police for operating a fraudulent investment scheme through a mobile app. Complainants, including a retired army officer and a local resident, alleged losses totaling several crores after investing in the app, which promised high returns through a ponzi-style operation. The accused allegedly misled investors using fabricated vendor profiles, fake deals, and false claims of partnerships with multinational firms. An FIR has been registered at the Economic Offences Wing Police Station to investigate the multi-crore scam involving the company's managing director, directors, and other key personnel.

Businessman charged under PMLA for Rs 58 crore land deal fraud and money laundering using false statements
A businessman is accused by the Enforcement Directorate of involvement in a 2008 fraudulent land deal in Haryana, where he allegedly exerted undue influence on government officials through a former chief minister. The chargesheet claims he acquired proceeds of crime worth Rs 58 crore by purchasing land without full payment, using false statements and issuing a cheque that was never encashed. The transaction involved his company and multiple entities linked to him, with the seller paying stamp duty. The agency alleges money laundering through complex structures and transfer of illicit funds to purchase assets. During questioning, the accused gave evasive answers and shifted responsibility to three deceased associates without providing documentary evidence. The case is before a special PMLA court, which has issued notices to all accused and scheduled further proceedings.

Man Arrested for Impersonating IAS Officer, Defrauding Job Seekers with Fake IDs and Seals
A man was arrested in Gurugram for impersonating an IAS officer and defrauding individuals by promising jobs and transfers. Authorities recovered cash, multiple fake identification documents, including a Home Ministry ID card, and items such as a fake arms license, seals, electronic devices, and a vehicle marked with "Government of India." The accused, who only completed high school, admitted to extorting money by falsely claiming an IAS rank and connections within the Home Ministry. He was placed on a two-day police remand and faces charges including cheating and impersonation, with a prior case registered against him in Uttar Pradesh for similar offenses.

Prime Minister Defends Gaza Offensive to Defeat Militants, Allow More Journalists, and Establish New Administration
The Israeli Prime Minister defended a planned military offensive in a densely populated area of Gaza, stating the objective is to defeat the militant group controlling the territory and to free Gaza, not occupy it. He directed the military to allow more foreign journalists into Gaza, a departure from previous restrictions. The offensive aims to demilitarize the area, establish Israeli security control, and install a non-Israeli civilian administration. The Prime Minister rejected international criticism and accused certain foreign governments of withdrawing support under pressure. He attributed civilian suffering in Gaza to the militant group's actions and acknowledged aid shortages without conceding starvation. Plans to increase aid distribution were mentioned but not detailed.

India on track to be world's third-largest economy with growth in infrastructure and tech under Atmanirbhar Bharat
The Prime Minister of India announced that the country is rapidly advancing to become the world's third-largest economy, highlighting significant growth in infrastructure, technology, and exports over the past decade. Key developments include expansion of metro rail networks, increased rail electrification, growth in airports and waterways, and a surge in exports of electronics and automobiles. The government emphasized self-reliance under the Atmanirbhar Bharat initiative, promoting domestic manufacturing and technological innovation, including advancements in artificial intelligence, semiconductors, and space missions. The announcement also sparked disputes between state and central governments over funding and credit for infrastructure projects. The government stressed the importance of high-quality, environmentally friendly products and digital financial inclusion, noting India's leadership in real-time digital transactions globally.

Six Arrested for Running Fake Office, Impersonating Officials to Extort Money Under IPC and IT Act
Six individuals were arrested in Noida for operating a fraudulent office and impersonating members of international police and government organizations to extort money. The accused, residents of West Bengal, rented an office and used fake documents, logos, and a website to deceive locals and solicit donations. Authorities seized multiple mobile phones, identity cards, stamp seals, cheque books, cash, and signage related to the fake organization. A case was filed under relevant provisions of the Indian Penal Code, Information Technology Act, and the Emblems and Names (Prevention of Improper Use) Act. Investigation is ongoing.

Investigation launched under Section 4(2)(e) for dominant firm forcing extra product sales with subsidized urea
The Competition Commission of India has initiated an investigation into a state-run fertilizer company for allegedly forcing dealers and farmers in Maharashtra to purchase additional non-subsidized products alongside urea. The complaint alleges this practice violates the Competition Act by abusing the company's dominant market position, as it supplies over 42% of urea in the state, a heavily subsidized essential input with government-fixed pricing. Evidence submitted includes official correspondence, association letters, media reports, and video recordings indicating forced sales despite regulatory warnings. The Commission's preliminary view suggests a contravention of Section 4(2)(e) of the Act, concerning leveraging dominance to protect or enter other markets, which undermines fair competition. The probe, to be conducted by the Director General, must be completed within 60 days.