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Bareilly bride elopes before marriage, sister swap plan ends in clash

Bareilly bride elopes before marriage, sister swap plan ends in clash

India ₹ defense lifts forex tool past $110B

The Reserve Bank of India’s use of a key tool for defending the rupee has passed the $110 billion mark in recent weeks to a new record, according to people familiar with the developments.The RBI’s net-short dollar book, a measure of the degree it has sold forward its stockpile of the US currency, has risen to about $110 billion-$115 billion across onshore and offshore markets, said the people who asked not to be identified as the information is private. The book was at $95.3 billion in April, down from a record high of $103.1 billion the previous month.The central bank ramped up its interventions after the rupee weakened to a record low on May 20, almost hitting the 97 per dollar mark, the people said, adding that a large part of the central bank’s activity was in the offshore non-deliverable forwards market.Also Read: RBI's reform package could pull $40-75b inflows, push rupee to 92-93 and keep August rate on hold The RBI’s use of NDFs, which have grown over the past couple of years, allows the central bank to influence the exchange rate without immediately depleting foreign-exchange reserves. Such interventions can signal policy intent and help steady the currency during periods of volatility.A spokesperson for the RBI didn’t respond to an email seeking comment.131583707The rupee has borne the brunt of the oil-price shock caused by the Iran war, as India depends heavily on imports to meet its energy needs. The currency has repeatedly fallen to record lows this year as refiners sold rupees for dollars to pay for costlier crude. Still, the currency may now find support from coordinated measures rolled out by the government and the RBI on Friday to attract capital flows.Also Read: Reeling rupee drags students abroad deeper into debt at homeIn recent weeks, the central bank has sold offshore dollars largely via short-dated contracts, typically maturing in one-to-three months, the people said. At the same time, it has conducted onshore swaps of maturities of more than a year, they said. These swaps replenish some of the liquidity drain caused by the RBI’s onshore dollar sales aimed at stabilizing the rupee.RBI Governor Sanjay Malhotra said on Friday that while the authority does not resist market-driven adjustments in the rupee, it curbs excessive volatility in the exchange rate. The currency is often influenced by speculative pressures that are not in sync with fundamentals, he added.The growing derivatives book may still pose challenges. As contracts mature, they generate recurring demand for dollars, capping any sustained recovery in the rupee. The central bank is likely to use any renewed capital flows to unwind its short forward book and rebuild foreign-exchange reserves, according to Goldman Sachs Group Inc. analysts led by Kamakshya Trivedi.India’s foreign-exchange reserves were at $682.3 billion in the week of May 29, having dropped more than $40 billion since the Iran war began in late February.

Pocket-friendly packets: Why Indians are swapping big snack packs for smaller ones

Consumers are increasingly opting for smaller pack sizes of everyday goods, from edible oils to soaps, as rising costs strain monthly budgets. This shift, driven by economic stress and geopolitical factors, is leading FMCG companies to reduce grammage in popular low-priced packs to maintain affordability and protect profit margins.

Telecom service providers bear civil liability for financial loss in SIM swap frauds caused by their negligence: Karnataka High Court

Court directs BSNL to pay ₹55 lakh as compensation to cooperative bank which had lost ₹50 lakh due to SIM swap fraud

Bank loses Rs 87 lakh to SIM swap fraud, HC orders BSNL to pay over Rs 55 lakh compensation

Karnataka High Court holds BSNL responsible for an Rs 87 lakh bank fraud, stating the telecom giant's negligence in issuing a duplicate SIM enabled cybercriminals. The court dismissed BSNL's challenge, enhancing compensation to over Rs 50 lakh plus interest, emphasizing a heightened duty of care for financial institutions.

At 76, Naidu pedals 5.5 km of midday heat for a greener Visakhapatnam

On World Environment Day, the 76-year-old Chief Minister swaps his car for an e-bicycle, riding 5.5 km through Visakhapatnam on a hot day to press for more green cover

India takes big moves to attract foreign investments in bonds: How will this impact stock market?

As India sees incessant FII selloff so far this year, the government and RBI announced a slew of measures to ease foreign investments in government securities, with analysts suggesting that these may provide some short-term support for Dalal Street.India scrapped the long-term capital gains tax on investments by foreign institutional investors (FIIs) in government securities through an ordinance issued on Friday. The government has now exempted FIIs from tax on any interest income from government securities, as well as capital gains arising from their sale, exchange or transfer, according to an official gazette. Separately, while announcing the outcome of the MPC meeting, RBI Governor Sanjay Malhotra also unveiled a series of measures to boost FPI investments, including expanding the Fully Accessible Route (FAR) to cover new issuances of 15-, 30- and 40-year government bonds.Limits on investments by NRIs and OCIs in equity instruments without Sebi registration are being raised, allowing them to invest larger amounts without regulatory registration. The facility is also proposed to be extended to all Persons Resident Outside India (PROIs), bringing them on par with NRIs and OCIs. This came as the RBI kept the repo rate unchanged at 5.25%What does this mean for Indian stock market?The proposal to increase investment limits for NRIs and OCIs in listed equity instruments without Sebi registration, and to extend the same facility to all individual Persons Resident Outside India (PROIs), is a significant step toward broadening participation in Indian capital markets, which is expected to improve market depth, liquidity and long-term capital inflows, said Arun Poddar, CEO of Choice International.He highlighted that equally important is the removal of capital gains tax on government securities investments for foreign investors. “This move strengthens the attractiveness of India's bond market and could encourage greater foreign participation in government debt. At a time of heightened global volatility, these measures reinforce investor confidence, support capital inflows, and reaffirm India's commitment to building deeper, more globally integrated financial markets, with the policy rate expected to remain low for an extended period,” he said.The government's move to exempt Foreign Institutional Investors (FIIs) from capital gains tax on any interest earned from government securities is “highly positive” for the capital markets, said Sumit Singhania, Head of Research at Bajaj Broking. “This fiscal cushion arrives at a crucial time, offering a strong shield to domestic markets as the RBI chief warned of volatile forex markets driven by shifting global sentiments,” he added.The policy is distinctly positive for bond markets and well-capitalized Banks and NBFCs, which benefit from targeted hedging subsidies and systemic stability, according to Archit Doshi, Senior Vice President at PL (Prabhudas Lilladher) AMC. “Conversely, one should be underweight rate-sensitive sectors, which remain highly vulnerable to margin compression, higher inflation expectations, and the threat of the RBI reaching its tightening tipping point,” he said.Rajeev Radhakrishnan, CFA, CIO of Fixed Income at SBI Mutual Fund, also said that the announcements aimed at enabling more dollar inflows are more significant in the near term, even though the overall policy stance has been broadly in line with expectations. “The concessional swap facility should help stabilise short end market rates and the foreign exchange market in the near term,” he said.For equities and debt markets, the measures to attract FII inflows are supportive of liquidity and inflows, while for the rupee, they signal a clear intent to anchor expectations and reduce volatility amid global oil shocks and sustained foreign selling pressure, said Ajit Mishra, Senior VP of Research at Religare Broking.Sachin Bajaj, Chief Investment Officer at Axis Max Life Insurance, also said that the initiatives are expected to support capital inflows, deepen domestic bond markets, and provide support to the Indian rupee over the short to medium term.RBI’s hawkish tone and the Indian stock marketWhile the measures taken to attract FII inflows in the debt market will likely provide short-term support for Dalal Street, analysts advised caution over the RBI’s hawkish policy stance. While the RBI maintained its policy repo rate as per expectations, the tone was much more cautious than in previous meetings.Sachin Bajaj highlighted that the policy emphasised preserving macroeconomic stability amid the prevailing global macroeconomic environment. “We believe there are significant risks to inflation in the coming months due to the pass-through of higher commodity prices to consumers and elevated food prices resulting from a below-normal monsoon. Going forward, there is a risk of an upward revision in inflation projections, and given the evolving global backdrop, we believe the RBI is likely to maintain a prudent, data-dependent approach. Future policy actions will be contingent on evolving growth-inflation dynamics and global developments,” he added.Also read: Explained: Sebi's Rs 15.15 lakh crore revenue inflation allegations against Rajesh ExportsWhile hawkish rhetoric without an accompanying rate hike provides a temporary respite for equity markets, it does not constitute an unequivocal endorsement of investment, particularly in highly rate-sensitive sectors such as real estate, automotive, and consumer discretionary goods, said Vipul Bhowar, Senior Director, Head of Equities at Waterfield Advisors.“Should inflation necessitate a rate increase later this year, these sectors are likely to experience pressure on both margins and demand. For investors, the current strategy emphasises capital preservation by focusing on high-quality equities with strong pricing power. This cautious approach is designed to navigate the prevailing geopolitical uncertainties until conditions stabilise,” the analyst added.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Political culture of Trinamool should not taint BJP, says West Bengal Minister Swapan Dasgupta

Dasgupta’s comments come at a time of tumult in the Trinamool Congress legislature party; two-thirds of party MLAs have expressed their support to expelled Trinamool MLA Ritabrata Banerjee, who was appointed as the Leader of Opposition on Wednesday

Plague On Both Your Houses: Bengal Minister On Divided Trinamool

Swapan Dasgupta said it is not for the BJP to enhance its strength by getting people from the Trinamool.

Reliance traders said to game plan in case RBI raises rates

Traders in Reliance Industries Ltd.’s treasury department are strategizing over where to park the company’s cash in case the Reserve Bank of India starts raising interest rates in the coming months.One proposal involves moving Reliance’s cash holdings from liquid mutual funds into short-dated money market instruments, people aware of the conglomerate’s thinking said. The switch may pay off because the yield spread between money-market papers and the benchmark rate has widened beyond its five-year average and is likely to narrow in the coming months, resulting in capital gains, the people said, asking not to be named as the information is private. Markets are currently expecting about 50 basis points of rate hikes this year, they said.Traders also mulled reducing allocation to longer-dated bonds, which tend to be more sensitive to interest-rate changes, the people said.The strategy discussion cited market expectations and the conglomerate didn’t take an explicit view on interest rates. Treasury departments typically consider a range of market scenarios when evaluating trading strategies.“We categorically deny the information you have provided in your email regarding our opinion on interest rates and the behaviour of the rupee,” a Reliance spokesperson said by email.131502003India's Overnight Swaps Reflect RBI Rate HikesThe view carries weight because Reliance runs one of the largest corporate treasuries in India. The discussion also come ahead of the Reserve Bank of India’s rate decision on Friday, where the central bank is expected to announce measures to support the rupee.While most economists — 29 out of 35 — surveyed by Bloomberg News expect the authority to keep the benchmark rate unchanged, they see the RBI adopting a hawkish stance to prepare markets for potential rate hikes later this year amid inflation pressures triggered by an oil price shock.India’s sovereign bond yields have remained broadly stable this quarter even as the rupee has slid to record lows. The currency has recovered in recent days, helped by RBI intervention and optimism that a US and Iran agreement may lead to the reopening of the Strait of Hormuz, a vital route for the country’s energy imports.The rupee is down 6% this year and recently approached a record low of 97 per dollar. It has been hovering around 95-96 levels in recent days.Reliance’s traders expect the rupee to strengthen if a Middle East peace deal is reached and if the RBI takes measures to attract capital inflows, one of the people said. They have proposed that the owner of world’s largest oil-refining complex partly hedge its long-term forward contract positions as well as coupon payments dues in fiscal year starting March 2028, the person said.

Beware of false friends: BJP's Swapan Dasgupta warns party against TMC defectors

Beware of false friends: BJP's Swapan Dasgupta warns party against TMC defectors

The FIFA World Cup transit test

The 2026 FIFA World Cup will be the biggest tournament in soccer history, spread across 16 cities in the United States, Canada and Mexico. For millions of fans, getting to the games may prove almost as challenging as the matches themselves.With airfares climbing, gasoline prices rising and airport security lines stretching patience to the limit, North America's rail and bus operators see the month-long tournament as a rare opportunity: a chance to persuade travelers to swap planes and cars for trains, buses and public transit.For transportation providers, the World Cup is more than a sporting spectacle. It is a high-stakes audition before a global audience."We want you to be able to use our system seamlessly from the minute you decide to come to the World Cup, all the way into the games, and after that to get home," said Conan Cheung, chief operations officer for LA Metro, the public transportation authority serving the Los Angeles region.Los Angeles, which will host eight matches including the U.S. team's opening game, hopes the tournament will help reshape perceptions of a city often synonymous with traffic jams and sprawling freeways.For Cheung, the objective extends beyond impressing foreign visitors. The World Cup is also an opportunity to convince more Angelenos to embrace a public transportation system that has expanded significantly in recent years.That challenge resonates across much of the United States and Canada, where public transit networks are often less extensive than those found in Europe or Asia and where private vehicles remain the preferred mode of transport."Transit providers have an opportunity to provide service to a group of people who do not typically use transit on a day-to-day basis," said Yonah Freemark, a principal research associate at the Washington-based Urban Institute."Many of the World Cup fans coming from the U.S. or Canada do not necessarily use transit services regularly."The impressions those travelers form during the tournament could have lasting consequences."They should be making sure that the services they provide are high quality and not too expensive, because the people who are riding them are going to form an impression of those transit agencies — and there's a chance to really prove that they can provide a good service," Freemark said.Opportunity meets realityYet attracting new riders may prove easier than accommodating them.The World Cup's 104 matches will unfold across four time zones and thousands of miles, placing enormous demands on transportation networks already operating close to capacity.Ground transportation companies are eager to capitalize on soaring airline costs, but many are also wrestling with higher operating expenses of their own, particularly fuel prices.That leaves operators balancing competing priorities: attracting new customers while avoiding disruptions or price increases that could alienate the commuters who rely on them every day.For intercity bus giant FlixBus, the tournament represents a significant growth opportunity.Together with sister brand Greyhound, the company operates one of North America's largest transportation networks and says demand between host cities is already accelerating, with some departures sold out and others filling rapidly.Ahead of the tournament, the company has invested heavily in new buses and technology while placing renewed emphasis on punctuality."What is critical here is every Flix experience needs to be a happy one. That's how we actually grow our business. And this is a great opportunity," said Flix North America CEO Kai Boysan."We will welcome all the new customers and we want them to see what a change we've done and what a great experience they're going to have."Boysan believes buses are well-positioned to benefit from frustrations increasingly associated with air travel."Airports are congested and the costs are rising. And clearly travelers are naturally looking for alternatives. And there we come into effect," he said.The price problemWhile operators hope to lure travelers away from planes, some transit agencies have faced criticism for sharply increasing fares during the tournament.Few examples generated more backlash than New Jersey Transit, whose train service between Manhattan and MetLife Stadium — venue for eight matches including the July 19 final — initially carried a round-trip fare of $150 for a journey that normally costs less than $13.NJ Transit argued that the increase was necessary to cover approximately $48 million in additional costs related to security, crowd management and World Cup operations.Public criticism forced a rethink.The agency subsequently lowered the fare to $98 after securing additional advertising revenue, while shuttle bus prices on the same route were cut to $20 from the originally proposed $80 after organizers arranged additional capacity through local school buses.Boston has also announced higher event-day transportation prices. Round-trip rail tickets between downtown Boston and the stadium hosting seven World Cup matches will cost $80, compared with the usual $20 to $30, while a bus ride will cost $95.The fare hikes have drawn criticism from politicians, including U.S. Senator Chuck Schumer."Charging more than 11 times the normal fare for a train ride is a ripoff, plain and simple. FIFA is making billions from this World Cup," Schumer said after the original New Jersey fare was announced."FIFA should cover the ride, not stick New York fans with the bill."FIFA has countered that high transit costs could encourage fans to seek alternative ways to reach stadiums and noted that comparable international sporting events have generally not required organizers to fund transportation impacts.Different approachesNot every city has opted for higher prices.In Los Angeles, riders heading to World Cup matches will pay standard fares."Our regular fare is $1.75, so people will be able to pay that," said Cheung. "We will honor all of the discounts we have."Philadelphia is going a step further.Fans attending matches in the city will pay just $2.90 to travel to the stadium by train and receive a free ride home, courtesy of tournament sponsor Airbnb.National rail operator Amtrak is also preparing for increased demand as supporters move between host cities throughout the month-long competition."We are fully committed to running a world-class railroad ... and ensuring our infrastructure is ready to accommodate new and returning guests," said W. Kyle Anderson, Amtrak's director of communications.For transportation providers across North America, the World Cup offers a fleeting but valuable chance to showcase what their systems can do.The tournament will crown a world champion on the field. Away from the stadiums, trains, buses and transit networks will be competing in a contest of their own — to convince millions of travelers that public transportation can be fast, reliable and worth returning to long after the final whistle.

Fazil Nagar town to be renamed as Pawagarh says U.P. CM Yogi Adityanath

The proposed name ‘Pawagarh’ is derived from Pawapuri in Bihar, a revered Jain pilgrimage site closely associated with the Jain Tirthankar Lord Mahavir

Raiders linked to Bills WR Keon Coleman in proposed trade swap

The Las Vegas Raiders have been linked to Buffalo Bills wide receiver Keon Coleman in a proposed trade scenario from ESPN. The suggested deal would send a 2028 fifth-round pick to Buffalo in exchange for Coleman and a seventh-round selection. While Bills insiders believe Buffalo is likely to keep the former second-round pick, the Raiders could view him as an affordable option to strengthen their receiving corps around rookie quarterback Fernando Mendoza.

Extra Time! NSE extends F&O trading by 10 minutes. What changes for traders?

The National Stock Exchange (NSE) has announced a significant change to trading hours in the equity derivatives segment with the introduction of the Closing Auction Session (CAS) framework.Starting August 3, 2026, the normal market closing time for equity derivatives will be extended by 10 minutes to 3:40 pm from the current 3:30 pm. While the extension is noteworthy, the bigger change lies in how closing prices for eligible securities will be determined.The move aims to ensure a smoother transition between the cash and derivatives markets at the end of the trading day while maintaining consistency in the pricing framework across segments.What is the closing auction session?The CAS is a structured trading window held at the end of the trading day. During this period, market participants place buy and sell orders to determine a single closing price for a security through an auction-based mechanism.Unlike the current system where prices evolve through normal trading until market close, the auction process discovers a fair closing price based on orders entered during the designated session.According to the exchange, CAS will initially apply only to securities in the cash segment that have derivative contracts available. The framework will roll out in phases, and any future expansion will be subject to SEBI guidance and separate operational instructions from the exchange.Why are derivatives trading hours being extended?Although CAS applies only to the equity segment, NSE decided to extend trading hours in the derivatives segment to ensure both markets remain aligned during the closing process.The exchange also clarified that the price bands and pre-trade risk control measures introduced as part of CAS in the cash market will be mirrored in the derivatives segment. This is intended to maintain consistency between the two segments during the closing phase of trading.How will the closing auction session work?The CAS will run for 20 minutes, from 3:15 pm to 3:35 pm. The process will begin with a transition phase between 3:15 pm and 3:20 pm, during which the reference price will be calculated using the volume-weighted average price (VWAP) of trades executed between 3:00 pm and 3:15 pm.Between 3:20 pm and 3:25 pm, participants will be able to enter both market and limit orders. From 3:25 pm to 3:30 pm, only limit orders will be permitted. During this period, market orders cannot be modified or cancelled.The order entry session will close randomly at any point between 3:28 pm and 3:30 pm, after which the auction process will determine the final closing price.How will closing prices be calculated?One key point highlighted by NSE is that there will be no change in the methodology used to calculate closing prices of derivative contracts. The volume-weighted average price (VWAP) used for derivatives closing price calculation will continue to be based on trades executed during the final 30 minutes of trading. However, because market hours are being extended, that 30-minute window will now shift to 3:10 pm-3:40 pm instead of the current 3:00 pm-3:30 pm.For securities eligible for CAS, the closing price in the cash segment will be determined through the auction process.Ashish Nanda, President and Digital Business Head at Kotak Securities summed up the shift by noting that the market is moving from a "continuous trading close" to an "auction discovered close".Under the current framework, closing prices are derived from the VWAP of trades executed between 3:00 pm and 3:30 pm. Under the new framework, closing prices for F&O-eligible stocks will effectively be linked to a 20-minute auction process running from 3:15 pm to 3:35 pm.What happens if a stock is removed from F&O?NSE clarified that eligibility for CAS is linked to the presence of derivatives on the stock. If a security is excluded from the equity derivatives segment on both exchanges, it will no longer be eligible for the CAS.In such cases, the closing price will revert to the existing methodology and be determined using the VWAP of trades executed during the last 30 minutes of trading. However, if the security continues to be part of the derivatives segment on at least one exchange, it will remain eligible for CAS.What happens to pending orders?The exchange outlined operational changes relating to order management. All unexecuted special orders, including stop-loss orders and disclosed quantity orders, will be cancelled. Pending orders that fall outside the revised price band will also be cancelled automatically, and members will receive appropriate cancellation notifications.Why does this matter for traders?For many market participants, the biggest implication is that the final closing price may no longer mirror the last traded price visible on trading screens at 3:30 pm.According to Ashish Nanda, this could require adjustments to trading strategies, particularly for option writers and arbitrageurs who rely heavily on closing prices for valuation, settlement and hedging decisions.While the derivatives market will remain open until 3:40 pm, the broader shift is not simply about extending trading by 10 minutes. It marks a change in how closing prices for eligible securities are discovered, with the exchange moving toward an auction-based mechanism designed to determine a single closing price at the end of the trading day.What happens to existing market timings?Apart from the revised closing time, most trading schedules remain unchanged. The pre-open session in the derivatives segment will continue to begin at 9:00 am and the normal trading session will continue to start at 9:15 am. Similarly, the trade modification window will remain unchanged and continue until 4:15 pm.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

IPL: Will Buttler improve his modest record?

Ahmedabad: As the Gujarat Titans (GT) lock horns with defending champions Royal Challengers Bengaluru (RCB) in the Indian Premier League (IPL), all eyes will be on veteran batter Jos Buttler to bring his big-match experience to the pitch.Buttler, who has enjoyed a fine season with GT, is the most explosive out of the team's ever-reliable top-three of skipper Shubman Gill, Sai Sudharsan and him. However, the English veteran has a very modest record in T20 tournament finals.Catch IPL live action hereIn eight T20 final appearances, Buttler has made just 167 runs at an average of 20.67 and a strike rate of 128.46, with best score of 39.However, Buttler faces a favourable match-up against RCB, having made 678 runs in 19 matches and innings at an average of 48.43 and a strike rate of almost 163, with two centuries and three fifties and best score of 106*.In 16 matches this season, Buttler has scored 507 runs at an average of 39.00 and a strike rate of 157.45, with four fifties and best score of 60. Squads: Royal Challengers Bengaluru Squad: Venkatesh Iyer, Virat Kohli, Devdutt Padikkal, Rajat Patidar(c), Jitesh Sharma(w), Tim David, Krunal Pandya, Bhuvneshwar Kumar, Jacob Duffy, Josh Hazlewood, Rasikh Salam Dar, Romario Shepherd, Suyash Sharma, Kanishk Chouhan, Abhinandan Singh, Jordan Cox, Philip Salt, Richard Gleeson, Swapnil Singh, Vicky Ostwal, Vihaan Malhotra, Mangesh Yadav, Satvik DeswalAlso read: GT vs RCB in IPL 2026 Final: Two teams, two T20 philosophies, one championship Gujarat Titans Squad: Sai Sudharsan, Shubman Gill(c), Jos Buttler(w), Washington Sundar, Rahul Tewatia, Nishant Sindhu, Jason Holder, Rashid Khan, Ravisrinivasan Sai Kishore, Kagiso Rabada, Prasidh Krishna, Mohammed Siraj, Glenn Phillips, Anuj Rawat, Kumar Kushagra, Arshad Khan, Luke Wood, Connor Esterhuizen, Ishant Sharma, Jayant Yadav, Shahrukh Khan, Kulwant Khejroliya, Manav Suthar, Gurnoor Brar, Ashok Sharma.

'Main wapas aaugi is mat pe': Vinesh Phogat

The Great Reset: Why Congress' Karnataka Intervention Marks a Break From the Past

Congress fast-tracked Karnataka’s leadership swap, signalling a sharper, election-focused approach unlike past faction battles that dragged on for months.