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The Reserve Bank of India has asked authorised dealers category-I banks to submit daily data on flows received through foreign currency non-resident bank deposits and external commercial borrowings every day by 1800 IST starting Monday. Banks should also submit data on overseas foreign currency borrowings starting Monday, the central bank said in a notification. Read more
The Reserve Bank of India's Monetary Policy Committee preferred to adopt a "wait and watch" approach despite risks of higher inflation due to the war in West Asia, minutes of the rate-setting panel's June meeting released Friday showed. The committee, which had met on Jun. 3-5, had left the repo rate unchanged at 5.25% and maintained the "neutral" policy stance. Read more
The Supreme Court Friday declared the right to walk on demarcated footpaths alongside motorised roads as a fundamental right under the Indian Constitution. The citizen's fundamental right to walk on a demarcated footpath is primary and shall have priority over motorised vehicles, said a bench of Justice P.S. Narasimha and Justice Atul S. Chandurkar. Clear articulation and declaration of such a right is necessary to recognise the correlative duty to provision and maintain footpaths by urban development authorities, municipal corporations, municipalities, and others. Read more
The Delhi High Court Friday upheld the government's temporary ban on Telegram FZ-LLC.'s messaging platform till Jun. 22, ahead of the National Eligibility cum Entrance Test re-examination on Jun. 21. The high court said that the reasons given to Telegram for banning its platform were sufficient and the government had strictly followed all the procedures under the Information Technology Act, 2000. Read more
The government's net direct tax collections rose 14.6% on year to INR 5.210 trillion during Apr. 1-Jun. 17, helped by a 22.4% year-on-year increase in corporate tax collections, data released by the finance ministry Thursday showed. Net direct tax collections so far have accounted for 19.3% of the Budget target of INR 26.97 trillion for the financial year 2026-27 (Apr-Mar). Read more
The water level in 166 key reservoirs in the country was at 50.46 billion cubic metres as of Thursday, accounting for 27.5% of the total live storage capacity, data from the Central Water Commission showed. The water level was down 13.4% from a year ago and 13.0% above the average storage over the past 10 years, the data showed. Read more
State Bank of India's board Wednesday approved raising up to INR 600 billion through the issuance of debt instruments in financial year 2026-27 (Apr-Mar), according to an exchange filing. The funds can be raised in rupees or any convertible currency, according to the filing. Read more
The Delhi High Court Thursday reserved its verdict on Telegram FZ-LLC.'s plea against the government's temporary ban on the messaging application till Jun. 22, ahead of the National Eligibility cum Entrance Test re-examination on Jun. 21. On Telegram's argument that its fundamental right is being infringed, Justice Tejas Karia observed that Right to Free Speech under the Indian Constitution is available to users not the application, which even the Karnataka High Court had also held in a judgment. Read more
The Reserve Bank of India has approved the extension of Keki Mistry as the interim part-time chairman of HDFC Bank, the bank informed exchanges Thursday. Mistry will serve as the interim part-time chairman until Sept. 18 or until the appointment of a regular part-time chairman, whichever is earlier, the bank said. Read more
