To cash in on the RBI's concessional swap window, Indian Bank plans to raise $400 million through External Commercial Borrowings (ECB) to support its business growth.
In addition, the public sector lender may mop up another $600 million via ECB before the Reserve Bank of India's deadline of December 31, 2026.
Overall, the bank is planning to garner $ "Indian Bank has already raised $1.5 billion from FCNR(B) deposits.They are willing to put their money in such a product as it provides attractive returns. Better than expected FCNR(B) flows have been there,
, which is why the RBI halted the concessional swap facility much ahead of the scheduled deadline of September 30, 2026.
Reserve Bank prematurely closed the window for mobilising FCNR(B) deposits under its special $-INR forex swap facility citing the encouraging response and strong forex inflows generated through the scheme.
1 billion from the ECB and about $2 billion via Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.
As per the RBI data, FCNR(B) has attracted $52.3 billion from overseas customers, while Overseas Foreign Currency Borrowings (OFCBs) contributed $2.81 billion and ECBs $1.74 billion till August 13.
The RBI introduced the special $-INR forex swap facility on June 8, covering FCNR(B) deposits with a deadline of September 30, while December 31 for ECBs and Overseas Foreign Currency Borrowings (OFCBs).
Indian Bank, which started its operation in 1907, celebrated its 120th Foundation Day on August 15. On the occasion,
, Kumar virtually inaugurated 15 branches across different parts of the country, reinforcing the bank's commitment to taking accessible and customer-centric banking services closer to communities across India.
The bank also launched various customer-centric products as part of its digital journey. To strengthen cybersecurity awareness among customers and
the general public, the bank unveiled its cybersecurity mascot 'IB CYBER CAPTAIN'.
India is set to host the 12th BRICS Environment Ministers Meeting in New Delhi on 18.08.2026, preceded by the BRICS Senior Officers’ Meeting of the Environment Working Group and Contact Group on Climate Change and Sustainable Development on 17.08.2026. The event would be held under the overarching theme of India’s BRICS Chairship 2026 -
‘Building for Resilience, Innovation, Cooperation and Sustainability’.
The BRICS Environment Ministers’ Meeting would be presided over by Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav and would provide a platform for Ministers, Senior Officers, policymakers, and experts from the Member Countries to engage in substantive
discussions, foster consensus, and strengthen environmental cooperation.
The first day would witness the Senior Officers’ Meeting, which would include an inaugural session and deliberations on the priorities of the BRICS Environment Working Group and Contact Group on Climate Change and Sustainable Development.
discussions, foster consensus, and strengthen environmental cooperation.
The first day would witness the Senior Officers’ Meeting, which would include an inaugural session and deliberations on the priorities of the BRICS Environment Working Group and Contact Group on Climate Change and Sustainable Development.
The second day would culminate in Ministerial-level deliberations on the outcome document and thematic discussions that underscore the collective commitment of BRICS Member Countries to environmental cooperation and sustainable development. As part of the Chairship,
India has identified four priority areas for focused engagements under the BRICS Environment Working Group.
The Indian Navy’s sail training ship INS Sudarshini entered the port of Ponta Delgada in Azores, Portugal, on 13 Aug 2026, as part of the ongoing Lokayan 2026 voyage. The arrival marked successful completion of a challenging 19-day transoceanic passage across the Atlantic Ocean, originating from Boston, USA.
This is INS Sudarshini’s second Atlantic crossing, highlighting the endurance, grit and seamanship skills of her crew.
The ship received a warm welcome from the Portuguese Navy on arrival. The port call carries forward the message of India’s rich maritime heritage, friendship and maritime cooperation.
During the port call, the Commanding Officer, INS Sudarshini, called on Comodoro Luís Nicholson Lavrador, Commander of the Azores Maritime Zone (COM CZMA). The ship will engage in professional interactions, operational replenishment, and cultural exchanges, further strengthening maritime bonds between India and Portugal.
Having traversed over 15,000 nautical miles, INS Sudarshini continues her voyage as a floating ambassador of goodwill and India’s vibrant maritime heritage.
Addressing the nation from the ramparts of the Red Fort on the 80th Independence Day, Prime Minister Shri Narendra Modi announced a series of initiatives and targets covering Artificial Intelligence, education, sports, Civil Defence, semiconductor manufacturing, nuclear energy and women-led development.
Union Home Minister Amit Shah launched the Gramin Gyan Setu app through video conferencing . The app has been developed to integrate libraries in the Gandhinagar Lok Sabha constituency of Gujarat.
Speaking on the occasion, Mr Shah said the app was launched on the birth anniversary of Padma Shri S R Ranganathan, observed as National Library Day
The objective is to establish a library in every village, preferably near schools, to encourage children to read and learn.
Around 63 village libraries have already been established, while 7 hundred 52 libraries are now connected through the app.
Four libraries, together having around two lakh 80 thousand books, have been linked with the rural libraries. Vans, arranged through his MP Local Area Development funds, will visit villages every fortnight to collect issued books and deliver books requested through the app.
The Home Minister said the initiative will provide children in villages access
to a much larger collection of books. He emphasised the importance of reading and guidance from competent librarians in shaping young minds and developing responsible citizens. He also urged families, including housewives, to make productive use of their spare time by acquiring knowledge and encouraging children to study.
As part of the Independence Day celebrations, the Ministry of Corporate Affairs (MCA), Government of India, organized the PMIS Industry Awards on August 14, 2026, in New Delhi to recognize the contribution of partner companies in the successful implementation of the Prime Minister Internship Scheme (PMIS) during its pilot phase.
The event was chaired by the Secretary, Ministry of Corporate Affairs, and was attended by senior officials of the Ministry, representatives from leading industry partners, and more than 100 current and former PMIS interns from across the country.
The awards celebrated organizations that have demonstrated exceptional commitment to nurturing young talent,
creating high-quality internship opportunities, adopting effective internship management practices, and supporting the Government’s vision of building a future-ready workforce. Mahindra & Mahindra Limited was recognized as the Overall Industry Champion for its leadership and exemplary contribution to promoting internships and youth engagement under PMIS.
Industry representatives shared positive experiences from their participation in the Scheme and highlighted the value created for both organizations and interns. A representative from Mahindra & Mahindra Limited said, we have crossed the milestone of welcoming 1,000 interns across the Mahindra Group.
The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, Government of India, in collaboration with the Tripura State Organic Farming Development Agency (TSOFDA) and the Department of Agriculture and Farmers Welfare, Government of Tripura.
. Organised an International Organic Buyer-Seller Meet in Agartala, Tripura, to provide a direct platform for the state's organic producers, Farmer Producer Organisations (FPOs), exporters and international buyers to explore new business opportunities and establish long-term market linkages.
Around 200 participants participated in the programme, including more than 20 international buyers from countries such as Australia, New Zealand, Germany, Italy, Greece and Argentina, 27 exporters, 96 farmers representing 22 FPOs/FPCs, and officials from various Government departments. The diverse participation provided a platform for direct interaction
among farmers, producer organisations, exporters, Government stakeholders and international buyers, facilitating discussions on sourcing opportunities, market requirements and potential business linkages.
The event featured 12 vibrantly curated stalls showcasing the diverse range of organic and naturally produced products that Tripura has to offer,
, including Queen Pineapple, GI-tagged Kalikhasa Rice, Organic Ginger and Turmeric, Black Sesame, Jackfruits, Scented Lemon and other fresh and exotic organic products. The stalls provided international buyers with an opportunity to explore Tripura's unique agricultural offerings through product displays, direct interactions with producers and discussion
on potential sourcing and business opportunities.
The International Organic Buyer-Seller Meet provided a platform for meaningful commercial engagement between Tripura's organic producers and international buyers while promoting the state's organic identity in global markets. The initiative is expected to generate new business linkages,
encourage long-term sourcing partnerships and contribute to improved market access and income opportunities for farmers.
The event was graced by Agriculture Minister, Government of Tripura Shri Ratan Lal Nath. IAS, Secretary, Agriculture & Horticulture, Government of Tripura, Shri Apurba Roy, Executive Director,
IFOAM Organics Asia and senior officers from APEDA, Ms Jennifer Chang, also attended the programme and shared their perspectives on strengthening the organic sector and expanding market opportunities for organic producers.
The Government of India launched the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in the Union Territories of Chandigarh and Dadra & Nagar Haveli. The programme was inaugurated by Hon’ble Union Minister of Education, Consumer Affairs, Food & Public Distribution,
and New & Renewable Energy, Shri Pralhad Joshi, along with Hon’ble Governor of Punjab and Administrator, U.T. Chandigarh, Shri Gulab Chand Kataria, and Hon’ble Union Minister of Rural Development, Agriculture and Farmers Welfare, Shri Shivraj Singh Chouhan.
Under the new system, the food subsidy will be transferred directly into the beneficiary’s Digital Rupee wallet, instead of a conventional bank account. The beneficiary can then use the purpose-bound digital subsidy to purchase foodgrains from empanelled merchants through a secure and traceable digital payment mechanism.
In line with Hon'ble Prime Minister Shri Narendra Modi's vision of "Sahkar se Samriddhi," Union Home Minister and Minister of Cooperation Shri Amit Shah laid the foundation stone of a new dairy plant at the Alwar Saras Dairy Complex, Vijay Nagar Ground, Alwar, Rajasthan, on 16th August 2026. On this occasion, Shri Amit Shah will also e-inaugurate the
Dairy Processing Plants and Cattle Feed Plants of various milk unions.
During the programme, Hon'ble Union Home Minister and Minister of Cooperation Shri Amit Shah will announce the formation of new Central Cooperative Banks and will remotely transfer funds to beneficiaries of various welfare schemes through Direct Benefit Transfer (DBT).
These beneficiaries will include those covered under the Pradhan Mantri Fasal Bima Yojana and the Pradhan Mantri Kisan Samman Nidhi Yojana.
At the event, the e-foundation stone laying and e-inauguration of various development works worth ₹6,262 crore across 17 districts of Rajasthan. Additionally, appointment letters will be distributed to
10548 newly appointed personnel under the Rozgar Utsav.
The foundation stone laying of the new dairy plant at Alwar Saras Dairy Complex and the e-inauguration of various dairy processing and cattle feed plants will be an important step towards strengthening the processing and production capacity of the dairy cooperative sector in the state.
. This will boost modern dairy infrastructure, create better opportunities for milk producers, and contribute to further strengthening the rural economy through cooperation.
This initiative, in line with the mantra of "Sahkar se Samriddhi" given by Hon'ble Prime Minister Shri Narendra Modi, will further reinforce the Government's commitment to making
making cooperative institutions modern, efficient and self-reliant, and to economically empowering farmers and milk producers through cooperation.
The Logistics Data Bank (LDB) has tracked 10 crore EXIM containers since its launch in 2016. The platform provides visibility of EXIM container movement across the country through technology-based tracking systems. LDB supports visibility across the logistics chain and provides information to stakeholders to facilitate monitoring of container movement.
Union Minister of Commerce & Industry, Shri Piyush Goyal said: “The tracking of 10 crore containers through the Logistics Data Bank is an important milestone in India’s logistics journey. Technology is helping us make logistics simpler, faster and more efficient, while improving the competitiveness of Indian industry. Efficient logistics will be central
to strengthening manufacturing, expanding our presence in global markets and realizing the Hon’ble Prime Minister’s vision of a Viksit Bharat.”
LDB provides visibility of 100 per cent of India’s EXIM container movement through RFID-based technology, covering 19 ports and 32 container terminals. Its network also extends to 103 Inland Container Depots,
439 Container Freight Stations, Empty Yards, Parking Plazas and Industrial Zones, 89 Manufacturing Special Economic Zones, 5,569 railway stations, 269 toll plazas and three Integrated Check Posts.
Principal Scientific Adviser to the Government of India, Prof. Ajay Kumar Sood, launched the RSVC AMRIT platform on 15th August 2025, the 80th Independence Day, marking a significant step towards strengthening technology-led rural development. Developed by NABARD in collaboration with the Office of the Principal Scientific Adviser (OPSA)
to the Government of India, AMRIT serves as the digital backbone of the RuTAGe Smart Village Centre (RSVC) ecosystem, supporting rural innovation and technology transfer and enabling wider adoption of appropriate technologies in rural areas. The launch event was attended by Dr. Shaji Krishnan V., Chairman, NABARD,
, along with representatives from various organisations and stakeholder groups.
In his address, Prof. Sood emphasised that AMRIT is designed as a comprehensive digital ecosystem supporting the complete RSVC lifecycle, from technology discovery and validation to deployment tracking, collaboration, monitoring and knowledge management.
The platform will progressively bring together innovators, technology providers, startups, validators, accelerators, implementation partners, funding agencies, academic institutions and rural communities on a shared platform. By connecting these stakeholders, AMRIT is expected to strengthen collaboration and accelerate the dissemination of technologies
in rural areas, helping take technology and innovation closer to the last mile.
The RSVC initiative facilitates the transfer of appropriate and affordable technologies from research institutions, innovators and startups to rural communities through village-level technology hubs, covering areas such as agriculture, rural enterprises, renewable energy,
in rural areas, helping take technology and innovation closer to the last mile.
The RSVC initiative facilitates the transfer of appropriate and affordable technologies from research institutions, innovators and startups to rural communities through village-level technology hubs, covering areas such as agriculture, rural enterprises, renewable energy,
education, assistive technologies, water and sanitation, and citizen services. AMRIT builds on this physical outreach by adding a digital layer to the ecosystem, with NABARD expecting it to evolve into a national repository of rural innovations, technologies, best practices and collaboration opportunities, supporting wider technology adoption
and the vision of Viksit Bharat 2047.
The government will open a one-time window starting August 16, 2026, for small taxpayers to disclose certain undisclosed foreign assets and foreign income, a scheme announced in the Union Budget 2026-27.
The Central Board of Direct Taxes (CBDT) has operationalised the Foreign Assets of Small Taxpayers–Disclosure Scheme, 2026, notified under
Chapter IV of the Finance Act, 2026. The disclosure window will remain open till December 31, 2026.
The current account deficit widened to $6.2 billion in June from a $1.2 billion surplus in June 2025, as the merchandise trade deficit increased to $30.2 billion from $19.2 billion.
Growth in bank deposits accelerated to 15.4 per cent year-on-year (Y-o-Y) as of July 31, the highest level since December 2016, according to data released by the Reserve Bank of India (RBI). Deposit growth rose from 12.7 per cent as of July 15 to 15.4 per cent by July 31. The last time deposit growth was higher was on December 9, 2016,
when it stood at 15.46 per cent.
Aggregate deposits increased by Rs 6.61 trillion during the fortnight ended July 31, taking the outstanding deposit base to Rs 269.41 trillion. The increase translated into a 2.5 per cent rise during the fortnight.
Time deposits accounted for Rs 4.21 trillion of the fortnightly increase, while demand deposits rose by
Rs 2.40 trillion.
The sharp increase in deposits came as banks continued to mobilise foreign currency deposits under the RBI’s special FCNR (B) swap facility. Banks had mobilised $36.7 billion through FCNR (B) deposits under the facility by July 31, according to the RBI.
In June, the RBI introduced the facility for fresh foreign currency non-resident (bank), better known as FCNR (B), deposits with a maturity of three to five years, with the central bank bearing the full hedging cost for eligible deposits. For the financial year so far, aggregate deposits increased by Rs 7.13 trillion,
compared with Rs 7.69 trillion during the corresponding period of 2025-26.
Time deposits have risen by Rs 9.70 trillion during the period, while demand deposits have declined by Rs 2.58 trillion.
The pickup in deposit growth came alongside faster credit growth. Bank credit grew 19.3 per cent Y-o-Y as of July 31, compared with 17.7 per cent as of
July 15. Credit growth is the highest since May 2024.
Bank credit increased by Rs 3.43 trillion during the fortnight to Rs 220.78 trillion. In FY27 so far, credit has increased by Rs 7.18 trillion, compared with Rs 2.57 trillion during the corresponding period of the previous financial year.
The gap between credit and deposit growth stood at 3.95 percentage points as of July 31, narrowing from 4.98 percentage points a fortnight earlier.
International Left-Handers Day is observed every year on August 13.
It was first observed on 13 August 1976, initiated by Dean R. Campbell, founder of Lefthanders International (also referred to as the Left-Handers Club in some sources).
The purpose of the day is to raise awareness about the everyday challenges and inconveniences left-handed people
face in a world largely designed for right-handed users — from scissors and can openers to school desks and sports equipment.
The Left-Handers Club, a UK-based organization, was founded in 1990, with its mission to keep members updated on new left-handed-friendly products, act as a bridge between left-handers and manufacturers,
and conduct research/advocacy on handedness. The observance is not a UN-designated international day but a globally recognized awareness day promoted by schools, workplaces, and organizations worldwide.
In Canadian Open Tennis, seventh seed Iga Swiatek of Poland defeated second seed Elena Rybakina in straight sets to claim the Women’s Singles title in Toronto last night. Swiatek captured her first title of the season with a swift 6-2 6-3 win, giving her a confidence boost heading into the US Open.
In Men’s Singles, American tennis player Ben Shelton won the title in Montreal by defeating fellow American Brandon Nakashima with a score of 6-3, 7-6(4). With this victory, the fifth-seeded Shelton successfully defended his tournament crown and captured his second career ATP Masters 1000 trophy.
This victory marks his fourth tournament win of the 2026 season, following earlier titles in Dallas, Munich, and Stuttgart, bringing his total career tour-level titles to seven.
In Chess, World No. 1 Magnus Carlsen has won Esports World Cup title for the second year in a row, by defeating Belarusian Grandmaster Denis Lazavik 2-0 in Paris, France. Representing Team Liquid, the 35-year-old Norwegian remained completely undefeated throughout the entire tournament.
Meanwhile, American Grandmaster Hikaru Nakamura secured third place after defeating Alireza Firouzja 4-1 in a chaotic bronze-medal match that was repeatedly disrupted by technical problems and internet disconnections. The championship layout followed a best-of-three sets format, where the first two sets featured four games each,
and a final two-game set was reserved as a tiebreaker if needed.
The 2026 Independence Day celebrations focuses on 'Yuva Shakti for Viksit Bharat@2047'. This year also commemorates 150 years of Vande Mataram.
The official Independence Day programme begins with the presentation of a Guard of Honour by the Armed Forces and the Delhi Police to the Prime Minister of India.
It is followed by the unfurling of the tricolour, accompanied by the National Anthem and the 21-gun salute. Helicopters of the Indian Air Force also shower flower petals over the Red Fort, and Prime Minister Narendra Modi also delivers his Independence Day address.
The day commemorates India's freedom from over 200 years of British colonial rule and the sacrifices of the freedom fighters who helped achieve the dream of a free nation.
India celebrated its 80th Independence Day , August 15 2026.
Shri Ashok Kumar Lahiri, Vice Chairman, NITI Aayog, launched the third report under the Services Thematic Series at the forum of the High-Powered ‘Education to Employment and Enterprise’ Standing Committee, in the presence of Smt. Nidhi Chhibber, CEO, NITI Aayog, and Dr. Saurabh Garg, Secretary, MOSPI, on 10th August 2026.
The launch was attended by senior officers from the Ministries/Departments, State Governments, Industry Associations, and Experts/Academia, who are members of the High-Powered Committee.
The report, “India’s Services Sector: Insights on Regulatory Regime in Professional Services”, presents a unique factual assessment of India’s regulatory framework
The report, “India’s Services Sector: Insights on Regulatory Regime in Professional Services”, presents a unique factual assessment of India’s regulatory framework.
