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RBI Schemes Attract $40.81 Billion in Forex Inflows, FCNR(B) Deposits Lead
The Reserve Bank of India's special schemes have drawn $40.81 billion in foreign exchange inflows by July 31, with Foreign Currency Non-Resident (FCNR(B)) deposits accounting for $36.72 billion. This surpasses 2013 levels, and further significant inflows are projected by research firms.
India's UPI Clocks Highest-Ever Monthly Transaction Value in July
India's Unified Payments Interface (UPI) recorded its highest-ever monthly transaction value of Rs 29.88 lakh crore and 23.66 billion transactions in July, demonstrating sustained growth. The platform, now operational in 10 countries, is strengthening India's digital payments ecosystem and global fintech standing.
Fixed Deposits: Single vs. Multiple for Large Investments
Investors with large sums (Rs 10-15 lakh) in fixed deposits face a choice between a single large deposit or splitting it into multiple FDs. Splitting offers better liquidity, increased DICGC insurance coverage, and flexibility through laddering, but requires more management effort.
Air India Expands Canada Operations with New Mumbai-Toronto Flights and Dreamliner Upgrade
Air India announced a major expansion of its Canada operations for Winter 2026-27, launching seasonal non-stop Mumbai-Toronto flights and upgrading Delhi-Toronto service with new Boeing 787-9 Dreamliners, increasing weekly capacity and travel options during peak season.
TPG Capital, Permira lead race for significant stake in Cloudnine
TPG Capital and Permira are frontrunners for a significant minority stake in Cloudnine, India's largest maternity and pediatric hospital chain, in a deal valuing the company at ₹11,000 crore. The transaction will facilitate True North's full exit and includes issuing new primary shares.
Commercial LPG Cylinder Prices Reduced Across India, Domestic Rates Unchanged
Commercial 19-kg LPG cylinder prices have been reduced by up to Rs 209 across major Indian cities from August 1, offering relief to businesses like restaurants and hotels. Domestic cooking gas prices for households remain unchanged.