Page 4 - Krity Ambey

Fitch affirms India's BBB- sovereign rating, retains stable outlook

The rating agency expects India's economy to grow 6.4 per cent in FY27 but flagged high government debt, weak fiscal metrics and lagging structural indicators

₹86,917 cr in unclaimed deposits with RBI fund, FinMin tells Parliament

SBI had the largest amount of unclaimed deposits transferred to the fund at Rs 20,040 crore, followed by Punjab National Bank at Rs 7,585 crore, Canara Bank at Rs 6,830 crore

Calcutta Stock Exchange has not submitted formal revival plan to Sebi: Govt

The exchange asked Sebi in July to put its February 2025 exit application on hold, but the regulator has yet to receive a formal proposal for its revival

Parliament passes Bill to recognise digital bank records as evidence

The legislation replaces the colonial-era Bankers' Book Evidence Act of 1891 and provides explicit legal recognition to electronic and digital banking records

Govt's debt-to-GDP ratio at 58.2% in FY26, 210 bps above target of 56.1%

The government will have to cut its debt-to-GDP ratio by 260 basis points in the current financial year to meet the Budget Estimate of 55.6 per cent for FY27

US may gain edge in India trade talks over Russian oil purchases: Experts

US senate passes bill threatening 100% tariff on top russian oil buyers

Govt reviewing bilateral investment treaty model to make BITs accommodating

The proposed overhaul seeks to make India's investment treaty regime more investor-friendly while retaining sovereign safeguards and advancing negotiations with key partners

AI safety must keep pace with adoption in financial sector: CEA Nageswaran

The Chief Economic Adviser said AI can improve credit assessment and risk detection in fintech, but firms must prioritise safety and security as adoption accelerates

Tariff on most items to be in single digits in FY28 Budget: FM Sitharaman

The government aims to bring customs duty on most items to single-digit rates by the FY28 Budget while continuing tariff rationalisation and asset-focused borrowing

Foreign etailers told to set up separate export-only units in India

The DGFT has notified a framework requiring foreign-owned e-commerce firms to create separate legal entities for inventory-based exports of Indian-made goods under the revised FDI policy

Indian Bank aims to more than double business to ₹35 trillion by 2032

The public sector lender plans to strengthen its presence in Delhi and Mumbai while relying on MSME growth and financial inclusion to achieve its long-term business target

HFIs show sustained economic activity, domestic demand in Q1: Chaudhary

Finance MoS Pankaj Chaudhary said improving industrial output, moderate inflation and resilient domestic demand support growth despite global uncertainty and monsoon risks.

India currently faces 9 WTO disputes over sugar subsidies, ICT tariffs, PLI

Commerce MoS Jitin Prasada said India is defending nine WTO disputes involving sugar subsidies, ICT tariffs and PLI schemes, with appeals pending in several cases.

Govt to continue fiscal measures to mitigate future fuel price volatility

Finance MoS Pankaj Chaudhary said the Centre will balance fiscal support with sustainability while strengthening energy security and adhering to the fiscal consolidation path

Premature life policy exits surpass maturity payouts, shows govt data

Surrenders and withdrawals accounted for 39% of total benefits paid by life insurers in FY26, overtaking maturity payouts amid rising early exits from long-term policies

Govt to offload up to 6.5% stake in LIC through OFS opening Tuesday

Centre will offer a 2.5% stake with a 4% greenshoe option at a floor price of ₹382 a share, helping LIC meet minimum public shareholding norms ahead of schedule

Govt considers duty parity for SEZ units on domestic market sales

Proposal under SEZ Policy 2.0 may allow SEZ units to pay duty only on imported inputs used in domestic sales, aligning treatment more closely with DTA manufacturers

FCNR (B) deposits rose by $28 bn after RBI swap window: MoS Finance

Outstanding FCNR(B) deposits have risen to $60.55 billion from $32.56 billion since the RBI announced its concessional forex swap facility in early June

Centre exhausted 18% of fiscal deficit in Q1FY27, shows CGA data

Fiscal deficit stood at 18.2 per cent of the FY27 target as higher subsidy spending was offset by robust revenue growth and sustained capital expenditure

US' Section 301 tariff linked to forced labour import may not survive court

Experts say fresh US tariffs imposed under Section 301 could face legal challenges, potentially dealing another setback to President Donald Trump's trade strategy