ITR filing FY 2024-25: Taxpayers must report exempt income, such as PPF interest and life insurance proceeds, in their ITR to ensure transparency and avoid future scrutiny. Disclosing these incomes, even though tax-free, helps explain the source of funds, especially for large receipts. Failure to report may lead to notices for information mismatch and potential delays in refund processing.

India and China are set to discuss a trade package focusing on essential commodities like rare earth magnets, fertilizers, and pharmaceuticals, coinciding with PM Modi's SCO summit attendance. This move signals improving relations amid US trade tensions and India's need for Chinese imports.

Prime Minister Narendra Modi is set to launch the National Mission on Natural Farming on August 23, a Rs 2,481 crore initiative promoting sustainable agriculture across 750,000 hectares. The programme aims to boost the income of 10 million farmers, improve crop yield, and reduce input costs.

CareEdge Rating reports India's credit-to-deposit ratio remains under 80% as lending growth trails deposit inflows. As of July 25, 2025, total credit grew 10.0% year-on-year to Rs 185.0 lakh crore, while deposits increased 10.2% to Rs 233.5 lakh crore. The slower growth in both credit and deposits, attributed to base effects and alternative investments, keeps the ratio below 80%.

A Reserve Bank of India (RBI) report suggests that Generative AI could boost Indian banking operations by up to 46%. The central bank highlights AI's potential to enhance customer understanding, improve efficiency, and personalize services. AI-powered credit scoring models can broaden access to credit, integrating underserved populations into the formal banking network.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 was above 24,600, BSE Sensex was near 80,600.

Bitcoin soared to a record high of $124,500 on Thursday, driven by positive US market sentiment and regulatory changes. Analysts attribute the surge to President Trump's policies easing restrictions on crypto firms, encouraging institutional investment. Major players like Trump's media group and Tesla have significantly contributed to the rally.

Top stock market recommendations: Aakash K Hindocha from Nuvama Professional Clients Group suggests a buy strategy for Force Motors, Maruti Suzuki, and MCX, anticipating potential gains. Nifty faces resistance around 24700-24750, while Bank Nifty follows a sell-on-rise pattern.

Asian shares showed mixed performance as investors awaited potential US Federal Reserve rate cuts. Japanese stocks declined from record highs, while South Korean and Australian markets saw gains. Australia's unemployment rate fell slightly, boosting the Australian dollar.

Motilal Oswal upgraded Bharat Dynamics citing reasonable valuation and strong Q1 growth. ICICI Securities maintained its buy on Jyothy Laboratories, while PL Capital did same for Cello World despite target price cuts. Jefferies is positive on FSN E-Commerce Ventures after Nykaa's impressive growth. Emkay Global Financial Services retained its reduce rating on Hindalco due to weak Novelis performance.

Treasury Secretary Scott Bessent urged the Federal Reserve to initiate interest-rate cuts, advocating for a 1.5 percentage point reduction from the current benchmark. Bessent suggested a 50 basis-point cut in September, believing revised labor market data might have prompted earlier cuts in June and July. His remarks break from the tradition of treasury secretaries avoiding specific recommendations on Fed policy.

An RBI panel suggests regulators should be lenient towards initial AI system errors in finance, provided adequate safety measures are in place, to foster innovation. The report emphasizes a framework built on trust, accountability, and transparency. Recommendations include building better data infrastructure and developing indigenous models, with flexible rules and proportionate liability for banks.

The US national debt has surpassed $37 trillion, exceeding pre-pandemic forecasts due to Covid-19 spending and recent tax cuts. Experts warn that this rapid debt accumulation will lead to higher interest rates, reduced private sector investment, and increased borrowing costs for Americans, urging policymakers to take swift action to address the growing financial strain.

State Bank of India will levy nominal charges on IMPS fund transfers exceeding Rs 25,000 via online channels, effective August 15. These charges range from Rs 2 to Rs 10 based on the transaction amount, with GST applicable. Salary package account holders and specific current account categories will be exempt from these charges.

Morgan Stanley reports India is poised to become the world's most attractive consumer market, fueled by a major energy transition and increased manufacturing contribution to GDP. Fiscal consolidation, rising exports, and lower oil intensity are expected to reduce saving imbalances, leading to structurally lower real interest rates. Improved macroeconomic stability and household portfolio diversification underpin this positive outlook.

The RBI now permits individuals to invest in Treasury bills via SIPs on its retail direct platform, aiming to increase retail participation in the bond market. While one-year bank FDs offer higher returns, T-bills outperform in shorter tenures like 91-day and 182-day maturities. This initiative allows investments starting from Rs 10,000 with auto-bidding and reinvestment options.

The Reserve Bank of India is set to launch a faster cheque clearance system on October 4, 2025. This new system will significantly reduce the cheque processing time. Cheques will be cleared within hours of presentation. The current T+1 day cycle will be shortened. Banks must confirm cheques quickly, or they will be automatically approved.

The rupee strengthened to 87.47 against the US dollar, boosted by a weaker greenback and positive domestic equity market sentiment. Easing crude oil prices and cooling inflation further supported the rupee. However, trade tariff uncertainties and foreign fund outflows limited gains. The Sensex and Nifty both saw significant gains, while foreign investors sold shares worth Rs 3,644.43 crore.

ICICI Bank faced widespread criticism after announcing a significant increase in minimum balance requirements for new account holders. Consequently, the bank rolled back the decision and revised its MAB norms to Rs 15,000 for metro and urban locations, Rs 7,500 for semi-urban, and Rs 2,500 for rural areas.

S&P Global Ratings Director YeeFarn Phua has said that Trump's tariffs are unlikely to significantly impact India's economic growth due to its non-trade-oriented nature, with exports to the US representing only about 2% of GDP. Despite increased tariffs on Indian imports, S&P maintains a positive outlook on India's sovereign rating, projecting a GDP growth of 6.5%.

India's gem and jewellery exports surged by 15.98% in July, reaching $2,178.24 million, fueled by strong order bookings at the IIJS Premiere and a rebounding Hong Kong market. Cut and polished diamond shipments rose significantly, alongside increases in lab-grown diamond and gold jewellery exports. The industry anticipates further growth with upcoming events like SAJEX 2025 in Saudi Arabia.

President Trump extended the US-China tariff truce for 90 days, aiming to de-escalate tensions. Xi Jinping is strategically weaponizing China's control over key supply chains, like rare earths, to exert economic pressure on the US and its allies. This approach allows China to target critical industries and defense sectors, potentially reshaping global trade dynamics.

US stocks surged on Wednesday, fueled by a global equity rally and growing anticipation of a Federal Reserve interest rate cut in September. The S&P 500 reached a new all-time high, while the Dow and Nasdaq also climbed. Easing Treasury yields further supported the market's advance as investors bet on lower borrowing costs.

Immigration experts are advising travelers with Schengen visas to meticulously review their documents before heading to Europe. Seemingly minor errors, such as spelling mistakes or incorrect passport numbers, could lead to denied boarding or entry. The Schengen visa allows non-EU citizens to stay in the Schengen area for up to 90 days for tourism, business, or family visits.

Tencent's Q2 revenue surged 15% year-on-year, exceeding expectations, driven by AI integration across its gaming portfolio and WeChat. Domestic game sales increased by 17%, while international gaming revenue soared by 35%. The company's strategic investment in AI, including its Yuanbao chatbot, contributed significantly to this growth, marking its third consecutive quarter of double-digit revenue increase.

The RBI is likely to hold steady on interest rates in October, an SBI report suggests, as August 2025 inflation is projected to rise above 2%. Despite a drop in retail inflation to a 98-month low of 1.55% in July 2025, driven by easing food prices, concerns about future inflation complicate potential rate cuts.

Indian stock markets, including equity, currency, and commodity segments, will be closed on Friday, August 15, 2025, for Independence Day. This is one of the 14 trading holidays observed by the BSE. Trading will resume the following day, except where regional holidays are applicable, impacting investors, traders, and banking operations.

A Bank of Baroda report indicates India's limited exposure to Russian oil export disruptions, estimating an additional $5 billion in annual import expenditure. While India has significantly increased its reliance on Russian oil since 2021-22, a full embargo could severely impact the global economy by potentially driving prices above $80 per barrel. India's import costs remain manageable.

China is easing urea export restrictions to India, potentially sending up to 300,000 tons, signaling improved relations amid trade tensions with the US. This shift follows increased tariffs by the US on Indian goods and comes after strained relations due to border conflicts in 2020.

Ikea India has inaugurated its first Delhi store at Pacific Mall, Tagore Garden, offering Delhi residents access to its furniture and household items. The 15,000-square-foot outlet showcases over 2,000 items, with 800 available for immediate purchase, complemented by digital tools and in-house consultants.

Indian banks will observe closures for Independence Day on August 15, followed by Janmashtami on August 16 in several states, leading to a long weekend with limited services. While most states observe holidays, some states like Tripura, Maharashtra, and others will have banks operating on Saturday.

Cyber fraud losses in Telangana decreased to Rs 681 crore in the first half of 2025, a significant drop attributed to increased public awareness and targeted interventions by the Telangana State Cyber Security Bureau (TGCSB). While India saw a rise in cyber fraud complaints, Telangana experienced a 13% decrease. Reward points scams saw the largest decline, while loan fraud increased.

The US Securities and Exchange Commission (SEC) has still not served summons to Gautam Adani and his nephew, Sagar Adani, in India, nine months after initiating legal proceedings. The SEC's efforts include seeking assistance from Indian authorities under the Hague Service Convention. The case involves allegations of false and misleading representations by Adani Green Energy Ltd.

Global satellite operators are vying for India's burgeoning satcom market, projected to reach $20 billion by 2028. Several international players are expanding their capacity to resell to Indian satcom companies, aiming to compete with Starlink and other major providers. Partnerships are forming, and space-based broadband services are anticipated to launch soon, pending spectrum allocation.

An Indian diesel shipment is heading to China, marking the first delivery since 2021, amidst uncertainty surrounding exports from Russia-affiliated Nayara Energy due to EU sanctions. The vessel, carrying approximately 496,000 barrels of ultra-low sulfur diesel, departed from Nayara's Vadinar facility.

The US designation of the Baloch Liberation Army as a terrorist group strengthens Pakistan's stance against Baloch activists and potentially opens doors for American mining companies to access Balochistan's rare earth deposits. Improved US-Pakistan relations, especially under Trump 2.0, have involved discussions on these mineral opportunities.

Paytm Payments Services has received the Reserve Bank of India's approval to operate as an online payment aggregator. This lifts restrictions on onboarding new merchants, in place since November 2022. The company submitted its application in March 2020. The RBI has stipulated certain conditions, including a system audit and compliance with payment guidelines.

Gold price prediction today: Gold prices experienced volatility due to potential tariffs on Swiss gold bars and subsequent White House clarification. The US-China trade truce extension and upcoming US-India trade developments are crucial factors.

US Treasury Secretary Scott Bessent labeled India as ecalcitrant in trade negotiations, days after President Trump announced a 25% tariff on Indian imports due to Russian oil purchases. Bessent hopes to conclude tariff discussions by October, while India's External Affairs Ministry has criticized the US decision as unfair and unreasonable.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday. While Nifty50 was above 24,550, BSE Sensex was up over 250 points.

Nearly 580 National Highway projects, valued at approximately Rs 3.9 lakh crore, are facing delays, while another 200 projects worth Rs 1.6 lakh crore are yet to commence. Land acquisition hurdles, contractor-related issues, and pending clearances are the primary causes.