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1Front Page

Tata Sons received a three-month extension from the Registrar of Companies to hold its annual general meeting, after the AGM on August 18 was deferred for want of a quorum, people familiar with the matter said.

Jio Platforms (JPL), the telecom, digital and technology arm of Mukesh Ambani-led Reliance Industries, has received approval from the Securities and Exchange Board of India (Sebi) to start its initial public offering, information on the regulator’s website showed.

The government has increased the electromagnetic field (EMF) limits for mobile networks to global standards, allowing telecom operators to cover larger areas with fewer towers, in a bid to ensure quality of service amid rising 5G traffic, people aware of the matter told ET.
The National Pharmaceutical Pricing Authority (NPPA) has proposed drugmakers be held solely responsible for overpricing of essential medicines, potentially exempting retail chemists and hospitals from prosecution risks. Manufacturers are likely to contest this move.
India is likely to pitch seamless cross-border digital payments, and adoption of central bank digital currencies (CBDCs) among BRICS member states at the summit it would host next month, people familiar with the deliberations told ET.
ITC Infotech is set to acquire a controlling stake in listed software services firm Happiest Minds Technologies from its 83-year-old founder and promoter Ashok Soota, three people familiar with the matter told ET.
India is working on a set of clarifications to its foreign direct investment (FDI) policy aimed at providing greater clarity on rules governing investments from countries that share a land border with the country, people familiar with the matter said.

2Pure Politics

Schoolgirls tie rakhis to Army personnel of Tripeak Brigadeduring Raksha Bandhan celebrations at the high-altitude border post of ShipkiLa in Kinnaur district, Himachal Pradesh, on Friday.

NSG personnel demonstrate during the opening ceremony of acomprehensive capacity-building training programme for the Karnataka police.

The devastation caused by the flash floods in Nepal and across the Himalayan region is a warning for all to safeguard the fragile ecosystem of Jammu and Kashmir, Islamic cleric Mirwaiz Umar Farooq said Friday.
DMK chief M K Stalin on Friday announced a major administrative restructuring in his party, expanding the number of organisational districts to 110 from the current 77, on a day marking his entry into ninth year as party president.
China on Friday said the collapse of a high-altitude glacier in Nepal may have triggered the massive flash flood disaster that engulfed the Tibet-Nepal border, killing hundreds and causing widespread damage.
As the hunger strike by tribal students in Maharashtra entered its 16th day on Friday, the Bharatiya Janata Party accused the Congress of inciting the students to continue their fast to “resurrect the career of Rahul Gandhi”. The BJP said the government had accepted most of the demands of the tribal students, but alleged that they were being encouraged to continue their protest with an eye on a proposed visit by Gandhi to Maharashtra.
The Centre has appointed two directors and a joint director to the National Testing Agency (NTA), which has been facing flak for issues related to the National Eligibility cum Entrance Test (NEET) paper leak, among other concerns.
The BJP is going full throttle to reorient itself and come up with ideas that can help it connect better with youth ahead of crucial assembly elections.
As the RSS steps up its global engagement, it is increasingly leveraging independent platforms set up by NRIs and others to expand its outreach abroad.
The Centre is mullying a short special session of Parliament in the third week of September to push through the delimitation-linked women quota bill, sources said.
The death toll from the devastating flash floods in Nepal rose sharply on Friday, increasing by 41 within a few hours to reach 579. The number of people missing has also climbed to 1,924.
Manipur CM Y Khemchand Singh on Friday said that the Assam Rifles and other security forces helped evacuate 47,000 people to safer places during the conflict in the state.
Karnataka Planning and Statistics Minister B Nagendra on Friday resigned from the cabinet amid mounting pressure from the BJP opposition over the alleged Maharshi Valmiki Scheduled Tribes Development Corporation scam.
The Directorate General of GST Intelligence (DGGI) has issued show-cause notices to Mahadev Book promoters Saurabh Chandrakar and Ravi Uppal and others, proposing a combined GST demand of more than ₹40,603 crore over transactions allegedly linked to the betting network between April 2020 and March 2024.
In a first of its kind initiative, Gujarat has launched a state-level ‘sports genomics programme’ aimed at understanding the genetic, physiological and performance characteristics of its athletes, that could add a new scientific dimension to athlete development.
India will use its BRICS chairship to push the grouping towards practical, development-oriented outcomes in startups, innovation, resilient supply chains and green energy, while seeking greater trade in national currencies and reforms of global institutions at the 18th BRICS Summit on September 12-13.
The bodies of four Naga civilians, killed in an ambush in Manipur’s Kangpokpi district, were retrieved on Friday, officials said.
A day after three FIRs were filed against Abhishek Banerjee, Derek O’Brien and others and 13 people were arrested in connection with the ruckus during the dismantling of an alleged illegal signboard at Trinamool office on Camac Street, former CM Mamata Banerjee on Friday demanded that all those arrested be released immediately.
The 57-day annual Amarnath Yatra formally concluded on Friday with the arrival of the 'Chhari-Mubarak' -- the saffron-robed holy mace of Lord Shiva -- at the 3,880-metre-high cave shrine in the south Kashmir Himalayas for special prayers, officials said.
The Indian Army has signed a deal to purchase Javelin anti-tank guided missiles from the US under a government-to-government initiative.
Maharashtra CM Devendra Fadnavis' decision to give migrant taxi and auto drivers a one-year extension to learn Marathi has not gone down well with the Uddhav Balasaheb Thackeray Shiv Sena and MNS, which have alleged that the government took the step with an eye on the upcoming Uttar Pradesh polls.
West Bengal chief minister Suvendu Adhikari on Friday said it is time to end the “threat culture” at Jadavpur University and vowed to restore nationalism inside and outside the campus.

3The Edit Page

Apropos ‘Krishn’s Bliss’ by A K Jagannathan (Speaking Tree, Aug 28), when Lord Krishn showed His Vishwarup to Arjun, to assuage his feelings and ward off his unfounded fears at having to kill his own kith and kin, by telling the latter that the Kauravs are already slain and he, Arjun, is just a means to that end that has already happened, was Krishn actually on ancient time travel and gave Arjun a glimpse of the future?

This refers to ‘Don’t Stay Deaf to Bhote Koshi’ by Brabim Karki (Aug 28). The catastrophic glaciated flash flood in Nepal serves as a damning wake-up call for our collective criminal apathy toward climate resilience.

Apropos the Edit, ‘Furlough Should Not Be a Free Pass’ (Aug 28), release of Dera chief Ram Rahim from Haryana jail sends a troubling message about the balance between rehabilitation and justice.
Good politicians are wordsmiths. Narendra Modi is among the best. In his Independence Day speech, he unveiled a new mantra, Saptadhara — 7 streams that will supposedly carry India towards Viksit Bharat by 2047.
In his latest executive order, Willy Wonka — Donald Trump’s new name — has directed the US Interior Department to update the name of Lake Ontario to Lake America.
The Supreme Court’s recent warning against ‘luxury litigation’ is welcome. Hearing an 11-yr-old dispute between two influential parties, a bench of Justices Surya Kant and Joymalya Bagchi said courts could not become instruments for settling personal vendettas or pursuing cases without genuine cause. It dismissed the dispute and imposed costs of ₹5 lakh each on the litigants.
Will the next wave of AI tools displace IT services firms? The argument seems intuitive. If AI models are becoming increasingly powerful and more accessible, why do companies need intermediaries to build and run technology? Yet, this debate is focused on the wrong question.
India’s tourism ambitions have entered a new phase. It’s no longer debating whether tourism matters to the economy, or whether it has enough destinations and cultural assets to attract visitors.
The Sensex plunged 2,000 points in minutes on Thursday, while a Bankex option soared 14,700% — a bout of extreme volatility that should worry everyone, except perhaps high-frequency traders who live for such moments.
Several highly successful people share many common traits. Some of these traits are: first, such people are totally focused on their roles, whether at work or in personal life.

4Et Markets: Beating Volatility

Nearly half the broader market has failed to generate returns so far this year.

The Indian rupee gained 17 paise on Friday as flows ahead of MSCI index rebalancing and some dollar sales by state-run banks led a turnaround in the local unit, while dollar sales from importers continued.

The settlement offered by Zee Group founder Subhash Chandra in the ₹22,000-crore borrowing case has put the spotlight on the personal guarantee process, particularly with regard to personal net worth, creditor qualification and the role of resolution professionals, bankers told ET.
India’s foreign exchange reserves touched a record high of $729.3 billion as of August 21, after banks stepped up the drive to mobilise NRI deposits under the central bank’s concessional swap window in the final two weeks before it closes on August 31.

5Brands & Companies

Bharti Airtel led the industry's July mobile subscriber growth with 26.8 lakh net additions, while India's largest telecom operator Reliance Jio, gained 24.4 lakh new users, sector regulator TRAI's monthly subscription data showed on Friday.

A US federal judge ruled Thursday that sanctions imposed by the Trump administration against AI giant Anthropic were illegal, finding that the government punished the company in a row over military use of its technology.

Vodka is stealing a record slice of India’s whisky-dominated liquor market, with younger consumers and women driving the sharpest shift ever toward white spirits. The trend has given a fillip to the company that had already premiumised its whisky portfolio.
As some of India’s best-known restaurants, including Paul, Big Chill and Punjab Grill, are being called out over hygiene lapses, National Restaurant Association of India (NRAI) president Sagar Daryani said the focus must be on “fixing the problem, not the blame.”
Rupert Murdoch's longstanding wish to reunite his Fox Corp and News Corp could happen ​in a potential merger that would unite a TV company with a widespread news operation, cementing the family's control over a smaller empire, court documents and video show.
President Donald Trump's administration has issued guidance to universities seeking to restrict certain work authorizations for international students, warning that colleges that fail to comply with federal regulations could lose their certification to enroll foreign students.
Spouses, minor children and ageing parents of Indian professionals working in the US, who have been waiting for final green card interviews, are among the worst affected by the Trump administration’s pause on immigrant visa appointments, legal experts said.
TVS Motor Company has named its international business head Peyman Kargar as its next chief executive officer, putting him in charge as the two-wheeler maker targets further growth in India and an expansion into developed markets.
Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing and said policymakers must be confident that it is, otherwise the US central bank has “work to do.”
Coal India (CIL), the country’s largest coal producer, has told the government that rules for the ₹37,500-crore coal gasification incentive scheme could put it at a disadvantage to private rivals, citing a short bidding window and the exclusion of captive power plants from eligible project costs to calculate the incentive.

6Economy: Macro, Micro & More

Due to likely formation of low pressure area over NW Bay of Bengal & West Bengal-north Odisha coasts, isolated heavy-tovery-heavy rainfall is likely over Odisha from Aug 28-3.

Sugarcane farmers in Maharashtra have started agitating for a higher price for cane crushed during the 2025-26 season after sugar prices rose more than 40% in recent months.

The government will introduce a fortnightly sugar allocation system from September, replacing the existing monthly quota, in a bid to improve availability and prevent artificial scarcity in the market.
India’s Industrial output grew 6.7% in July following a contraction in the mining sector, official data showed.
India has expressed its readiness to initiate negotiations on a Bilateral Investment Treaty with Canada at the earliest, and the two countries have agreed to support engagement between relevant authorities and stakeholders to explore opportunities in cross-border remittances and merchant payments, besides collaborating in strategic sectors, including critical minerals.
The power ministry has allowed renewable energy projects to use electricity curtailed under temporary general network access (T-GNA) to charge additional co-located battery energy storage systems and sell the stored power, people aware of the development said.
Oil India Limited (OIL) and Indian Oil Corporation Limited (IOCL) have relinquished the Shakthi-II exploration block in Gabon and terminated their Production Sharing Contract (PSC) with the country’s Directorate General of Hydrocarbons (DGH), bringing to an end a project that began with an oil discovery over a decade ago, but repeated delays led to its relinquishment.

7Companies: Pursuit of Profit

Quick commerce platforms and brands across beauty and personal care (BPC), jewellery, snacking and more saw a surge in Raksha Bandhan orders on Friday, as last-minute gifting and a growing preference for premium products drove demand.

India will pursue its global agenda of accessible and inclusive artificial intelligence (AI), rooted in moral and ethical systems at the upcoming Shanghai Cooperation Organization (SCO) leaders summit in Kyrgyzstan, amidst major efforts by China to pull SCO nations closer on AI, officials told ET.

Tata Consultancy Services (TCS) has paid 50-70% of quarterly variable pay to employees in its mid- and senior-level bands for the April-June quarter, according to people aware of the matter.
Icertis, a US-based enterprise tech company with major Indian presence, replaced chief executive Anand Subbaraman with two interim CEOs last month.
SoftBank Group Corp. is seeking a $10 billion loan, as it looks for more funding to help refinance debt used for its investment in US tech giant OpenAI, according to people familiar with the matter.
Sandhya Devanathan, vice president India and Southeast Asia, Meta, is joining OpenAI to lead its operations in Southeast Asia and Australia after a decade in the company.

8Saturday Feature

Have you ever been curious as to why Jews keep Kosher, Muslims keep Halal, or why Hindu and Jain Banias are strictly vegetarian? All these are trading communities.

There is something innately frightening about water. There is a pent-up power, a latent fury, an inexorability about it.

9Sports World Play

The Pakistan Cricket Board has lodged a formal complaint with official broadcaster Sky Sports after it aired an interview with the sons of jailed iconic former captain and prime minister Imran Khan during the lunch break on the opening day of the second Test against England at Lord’s.

For Italian football this has been a chastening year, yet, ahead of a likely frenzy before their transfer window shuts on September 1, Serie A clubs have spent the summer asserting their place in Europe’s financial pecking order.

India’s women’s hockey team has found a new belief in itself, veteran goalkeeper Savita Punia said after the side finished fifth at the ongoing World Cup, their best result in more than five decades.
Grandmaster R Praggnanandhaa became the first Indian to clinch the Grand Chess Tour title, beating Fabiano Caruana of the USA with a stunning comeback win in the grand finale here.
Indian javelin throw ace Neeraj Chopra has qualified for the Diamond League Finals to be held in Brussels on September 5 despite competing in just two events of the prestigious one-day meeting series.
Japanese organisers have told late additions to next month’s Asian Games to find their own accommodation, saying they don’t have the money or space to deal with ballooning participant numbers.
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