IMF
BRICS set to adopt framework for supply-chain cooperation
India will chair the BRICS Summit, focusing on development and innovation. The summit will address resilient supply chains and promote trade in national currencies. Global institutional reforms and BRICS Bank projects will also be discussed. Unilateral sanctions against member countries are expected to receive attention. Leaders from eleven BRICS and ten partner countries will attend the event.
India's forex reserves hit record high of $729.33 billion after $12.4 billion weekly jump
India's foreign exchange reserves have reached an all-time high of $729.328 billion. This surge marks a significant build-up in the nation's external reserves. Foreign currency assets and gold reserves drove this substantial increase. The Reserve Bank of India's measures have attracted considerable forex inflows. These reserves are now higher than both end-March and a year earlier levels.
22k gold rate today: Check 18k, 20k, 22k, 24k gold prices (August 26, 2026) at Tanishq, Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers and IBJA
Gold rate today: On Wednesday, leading jewellery brands reported stable gold prices, with the Indian Bullion Jewellers Association (IBJA) indicating a slight dip in retail rates. Meanwhile, silver prices rose, offering a contrasting trend. Notable retailers such as Tanishq, Malabar, Joyalukkas, and Kalyan Jewellers maintained consistent pricing for 22k gold.
Global economy in tug-of-war between oil shock and AI boom: IMF chief
The global economy is weathering an oil shock better than feared. An investment boom in artificial intelligence is now a growth engine. Drawdowns of oil reserves and non-Gulf supply increases helped mitigate the energy shock. Risks remain tilted to the downside, with fiscal pressures and stalled disinflation causing worry. Developing nations face risks of falling behind in AI and commodity supply disruptions.
India targets $55 trillion economy by 2047 through AI, manufacturing, FDI and sunrise sectors
India aims for a $55 trillion economy by 2047. This ambitious goal relies on leveraging its young demographic in artificial intelligence. Strategic capital deployment and sustained growth will unlock value across core sectors. Attracting foreign investment and expanding manufacturing are vital for this economic expansion. Dominance in sunrise sectors like space and defense tech will drive this future growth.
UPI completes 10 years, clocks nearly 13,000-fold rise in transaction volume
UPI has completed a decade of transforming India’s digital payments ecosystem, with annual transactions surging from 1.78 crore in 2016-17 to 24,162 crore in 2025-26. Transaction value rose to Rs 314 lakh crore, while monthly volumes hit a record 2,366 crore in July 2026. UPI now operates across 11 countries and accounts for nearly 49% of global real-time payments.
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ET World Leaders Forum 2026: Our reform express will move forward at even greater speed, says PM Modi
Building on the theme of Shared Futures for the ET World Leaders Forum, Prime Minister Narendra Modi says the future of every country is interconnected and nothing is possible in isolation. Listing the nation’s major achievements, he highlighted how, even as global unrest was creating an atmosphere of uncertainty and distrust, India emerged as a bright spot of growth, stability and hope.
PM Modi says ‘production-linked punishment’ era once held back Indian industry; pegs India as world’s fastest-growing economy
Prime Minister Narendra Modi on Friday said India had moved from the Licence Raj-era “Production Linked Punishment” model to incentivising production through the PLI scheme, which he said has generated ₹2.5 lakh crore in investment, ₹22 lakh crore in production and sales, ₹15 lakh crore in exports and over 14 lakh jobs.
India's forex reserves soar by $9.9 billion to $716.90 billion as on August 14
India's foreign exchange reserves jumped $9.905 billion to $716.90 billion in the week ended August 14, RBI data showed. Reserves had risen $14.1 billion to $707 billion a week earlier, marking the highest level in the current fiscal year. The latest increase came as FCNR(B) scheme inflows started reflecting.
Gujarat pitches AI, GIFT City plans at Chief Minister's US visit, seeks concessional World Bank funding
Gujarat's Chief Minister Bhupendra Patel visited the US to promote the state. He presented Gujarat's vision for becoming a global hub for AI and finance. Patel briefed World Bank officials on GIFT City's development and AI adoption. He also urged for concessional financing for development-oriented projects in Gujarat. The Chief Minister highlighted GIFT City's growing ecosystem for attracting global capital.
Pakistan seeks USD 10 billion US facility to bolster forex stability
Pakistan seeks a $10 billion US facility to bolster its foreign exchange reserves. This move aims to reassure international investors and stabilize the nation's currency. The government is negotiating with the US Treasury Department for this exchange stabilization support. Pakistan is currently implementing an IMF program and seeks market-based financing. Efforts are underway to improve the country's sovereign credit rating.
India Q1 GDP growth seen at 7.3% as consumption, capex cushion Iran war shock: ET poll
India's economy likely grew over seven percent in the first quarter of fiscal year 2027. Resilient consumption and exports supported this robust economic expansion during the period. Government capital expenditure also played a significant role in driving overall economic activity. High frequency indicators suggest healthy domestic volume growth across sectors. Economists anticipate a slight moderation in growth during subsequent quarters.
The next frontier in finance is not a bank. It is the machinery beneath it
The financial services landscape is evolving, emphasizing the importance of software and data infrastructures. In India, digital payments are surging, showcasing a strong shift toward online transactions. However, institutions grapple with legacy systems and fragmented data. As global account ownership climbs, there’s a pressing need for speed and security in financial systems. The future hinges on leveraging AI and building robust infrastructures for continued growth and innovation.
Finance ministry asks ministries to move from WPI to PPI in future contracts
The finance ministry has asked ministries and departments to adopt the Producer Price Index (PPI) instead of the Wholesale Price Index (WPI) for price escalation clauses in future government contracts once PPI becomes available. The move follows the launch of monthly PPI data and aligns with international practices and IMF recommendations.
Pakistan celebrates Independence Day: Here's how its stock market performed in last one year
Pakistan celebrates its 79th Independence Day as the KSE-100 index delivers a 23% return over the past year despite geopolitical tensions and market volatility. From a record high in January, the index has slipped around 6%. Meanwhile, younger investors are increasingly entering Pakistan’s stock market, boosting participation and account openings.
Trump says US has 'total control' over Strait of Hormuz, calls naval blockade a 'wall of steel'
US President Donald Trump has once again claimed "total control" over the Strait of Hormuz in a Truth Social post, calling the American naval blockade a "Wall of Steel" and declaring Iran's military "decimated."
India sixth-largest economy at $3.92 trillion nominal GDP in FY26: Government
India's economy reached sixth globally with a $3.92 trillion GDP in 2025-26. Government strategies focus on agricultural productivity and manufacturing growth. Infrastructure and logistics are strengthened through public investment and new policies. Foreign investment remains substantial, and bank bad loans have significantly fallen. Unclaimed bank deposits now total over Rs 86,917 crore.
India's resilient economy to support markets but global risks remain elevated: Sebi
India's financial markets are poised for growth, buoyed by robust domestic economic fundamentals like strong consumer demand and proactive government spending. Nevertheless, international geopolitical tensions and fluctuating commodity prices present daunting challenges. Consequently, there may be fluctuations in foreign capital inflows, which could affect market stability. Nonetheless, SEBI remains optimistic about India's potential to outperform globally, despite these external challenges.
India's forex reserves jump $10.5 billion to over two-month high of $692.87 billion as of July 31
India's foreign exchange reserves saw a significant rise of over ten billion dollars. This surge pushed the nation's reserves to their highest point in more than two months. Foreign currency assets, the largest reserve component, increased substantially during the reporting week. Gold reserves also registered a notable gain, contributing to the overall increase. Special Drawing Rights and reserve position with the IMF also saw modest growth.
Government approves senior bureaucrats' postings to IMF, ADB
The Centre has approved several key foreign postings for senior bureaucrats. Satyajit Mohanty will represent India at the International Civil Aviation Organization in Canada. Rahul Jain and Baldeo Purushartha are appointed to the IMF and Asian Development Bank respectively. Hemang Jani's tenure at the World Bank has been extended for two more years. Other appointments include positions at the WTO, SAARC Secretariat, and Indian Embassies.
IMF flags rising financial stability risks as BigTech expands deeper into payments, lending and financial services
The International Monetary Fund (IMF) has warned that the growing role of large technology companies in financial services could pose risks to financial stability, particularly in emerging market and developing economies, and called on regulators to strengthen oversight as these firms expand into payments, lending, insurance, asset management and financial SuperApps.
UAE-India: More than just energy
India's rapid economic growth positions it as a key partner for the UAE. The two nations are enhancing trade and industrial collaborations significantly. They aim to build resilient energy and commodity supply chains together. Industrial partnerships will support India's manufacturing ambitions and technological advancements. This collaboration will power India's digital future and sustainable growth.
Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
India's economic landscape is on a promising trajectory, aiming to exceed five trillion dollars by the fiscal year twenty twenty-nine. To attain this ambitious goal, the government is implementing a comprehensive growth strategy that emphasizes advancements in agriculture, manufacturing, and infrastructure. Key initiatives, including Production Linked Incentives and support for MSMEs, play an essential role in enhancing the country’s growth outlook both now and in the future.
AI may hurt IT today, but it could create the sector's next growth engine: Baroda BNP Paribas MF
AI may disrupt traditional revenue streams in India’s $280-billion IT services industry, but Rohan Korde of Baroda BNP Paribas Mutual Fund believes it could also drive the sector’s next growth phase. He sees opportunities in enterprise AI deployment, data engineering, cybersecurity, cloud integration and specialised chip infrastructure, while favouring financial services, healthcare and consumer services over the next three to five years.
India's forex reserves rise by $6.1 billion to two-month high of $682.35 billion as of July 24
India's foreign exchange reserves saw a significant rise of $6.1 billion. This increase brought the total reserves to $682.35 billion as of July 24. Previously, reserves had grown by $1.08 billion in the preceding week. Earlier this year, reserves reached a record high of $728.494 billion. However, reserves declined due to Middle East conflict and RBI interventions.
Plastic notes in India coming soon: Why govt wants polymer banknotes, which countries use them and how these currencies help
Why is RBI introducing plastic notes?The government's approval for RBI polymer notes has renewed focus on why RBI plastic notes are needed. Polymer banknotes last two to six times longer than paper Indian currency, reduce printing and replacement costs, improve durability, lower environmental impact and are already used by more than 60 countries, including the UK, Canada and Australia.
India's forex reserves rise $1.08 billion to $676.237 billion in week ended July 17
In a notable development, India's forex reserves have increased by over one billion dollars, driven primarily by a growth in foreign currency assets. On the downside, the value of gold reserves has seen a significant decline. Additionally, Special Drawing Rights have experienced a minor upward adjustment, while the reserve position with the IMF has faced a small downturn.
Pakistan seeks $10 billion fund from US after mediating Iran talks
Pakistan has requested a ten billion dollar exchange stabilization facility from the United States. This loan aims to boost foreign reserves and ease pressure on the Pakistani rupee. The request follows Pakistan's diplomatic efforts in brokering talks over the Iran war. Such a facility would reduce reliance on multilateral financing and ad hoc rescues. This move comes as Pakistan implements IMF-backed reforms and faces economic vulnerabilities.
S&P raises Pakistan's sovereign rating to 'B'
S&P upgraded Pakistan's rating to 'B' from 'B-'. This upgrade reflects improved institutional stability and key IMF-backed reforms. Reforms have accelerated fiscal consolidation and strengthened external buffers for the nation. Revenue collection improved, aiding a gradual decline in the debt burden. Macroeconomic stability has been restored, rebuilding foreign exchange reserves.
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