The Reserve Bank of India's record dividend payout to the government, nearly Rs 2.7 trillion, was primarily driven by substantial dollar sales and foreign exchange gains. The RBI actively intervened in the forex market, becoming a major seller of reserves. Increased earnings from rupee securities also contributed, although tempered by falling G-sec yields.
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PM Modi criticized the Indus Waters Treaty (IWT), deeming it prejudicial to India's interests and hindering the utilization of its water share. He highlighted restrictions on dam desilting and sediment clearing, impacting reservoir capacity. Following the Pahalgam massacre, India put the IWT in abeyance, signaling a potential renegotiation of its terms, particularly the dispute settlement mechanism.
Good news for taxpayers. The Central Board of Direct Taxes has provided an extension for filing Income Tax Returns. The new deadline is September 15, 2025. This applies to returns originally due by July 31, 2025. The extension accommodates revisions in ITR forms. It also considers ongoing system development.
Harvard University is suing the Trump administration over a decision to bar foreign students, alleging it's unconstitutional retaliation for resisting political pressure. The lawsuit challenges the directive, claiming it violates the First Amendment and harms over 7,000 international students. Harvard seeks a restraining order against the Department of Homeland Security's enforcement of the policy.
Lucknow Super Giants skipper Rishabh Pant has been penalised Rs 30 lakh for a slow over rate during their defeat to Royal Challengers Bengaluru. Other playing XI members, including the Impact Player, received a Rs 12 lakh fine. This marks LSG's third over-rate offence this season.
Union Home Minister Amit Shah visited Poonch, J&K, following Operation Sindoor, assuring support to families affected by Pakistan's attacks. Job letters were distributed to relatives of those killed. Shah emphasized that terror and talks are incompatible, rejecting Pakistan's peace overtures.
The Puri district administration has launched an inquiry into a boat overturning incident involving Snehasish Ganguly, elder brother of Sourav Ganguly, and his family during water sports in Puri. Lifeguards rescued the family after the capsize.
Amidst rising tensions stemming from perceived support for Pakistan, wealthy Indian families and NRIs are increasingly avoiding Turkey and Azerbaijan for weddings and corporate events. This shift has led to the rescheduling or relocation of several high-profile events, impacting the region's event industry. Destinations like the UAE, Rajasthan, and particularly Bahrain, are gaining popularity as alternatives.
The CBSE has directed all affiliated schools to implement the mother-tongue-first policy from 2025–26, aligning with NCF-2023. While this aims to enhance early learning and equity through regional language instruction, critics warn of practical hurdles in India’s linguistically diverse classrooms. The success of this reform hinges on careful execution, not just ideological appeal.
Prime Minister Modi, addressing a rally in Bihar, asserted that he fulfilled his promise to retaliate against Pakistan following the Pahalgam attack, referencing Operation Sindoor. He highlighted the destruction of terror launchpads and Pakistani airbases. Modi also credited Nitish Kumar for Bihar's progress, contrasting it with the previous 'Jungle Raj' era, and noted the reduction of Naxal-affected districts.
General Asim Munir gets promoted to Field Marshal in Pakistan. This happens after a military clash with India. The promotion is seen as a move to protect Munir. Pakistan faces internal security and political problems. Imran Khan's party criticizes Munir. The promotion may strengthen Munir's position. However, challenges remain for Pakistan. These include internal threats and political tension.