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RBI to close FX swap for overseas deposits earlier than planned, inflows top $50 bln

MUMBAI, Aug 14 (Reuters) – The RBI will close a discounted forex swap facility for banks to hedge ​overseas deposits raised from non-resident Indians a month ‌earlier than planned, following robust inflows of more than $50 billion. Banks will now be allowed to tap the zero-cost hedging facility for ​overseas FX deposits raised by August 31, compared ​with the earlier date of September 30, according ⁠to an RBI statement on Friday. The FX swap ​was part of a raft of measures announced in ​June to boost India’s balance of payments. The decision has been taken “based on the encouraging response

Gold falls for second day to Rs 1.56 lakh/10g as profit-taking weighs

New Delhi, Aug 14 (PTI) Gold prices fell for the second straight session on Friday, declining Rs 800 to Rs 1,56,200 per 10 grams in the national capital as profit-booking and weak global cues weighed on bullion. The yellow metal of 99.9 per cent purity had closed at Rs 1,57,000 per 10 grams on Thursday. Silver, however, remained unchanged at Rs 2,40,000 per kilogram (inclusive of all taxes), according to local traders. “Gold pulled back on Friday amid weaker global cues, with spot yellow metal edging lower despite softer-than-expected US producer-price data,” said Saumil Gandhi, Senior Analyst – Commodities at

Tunnel collapses at Uttarakhand hydropower project, killing at least 7

LUCKNOW, India, August 14, 2026 (AP) — A tunnel under construction at a hydropower project in Uttarakhand collapsed overnight, leaving at least seven workers dead, officials said Friday. A rescue operation was launched after a sudden rush of water and debris entered the tunnel at the Vishnugad-Pipalkoti hydroelectric project in Chamoli district later Thursday night, said top district official Gaurav Kumar. Of 22 people who were working in the tunnel, 12 have been rescued alive and another three are still missing, the chief minister of Uttarakhand Pushkar Singh Dhami told reporters. Rescue teams from the national and state Disaster Response

Stock markets end lower amid geopolitical uncertainty; Nifty down for 4th day

Mumbai, Aug 14 (PTI) Market benchmark indices Sensex and Nifty ended lower on Friday as elevated oil prices and the prolonged US-Iran impasse weighed on investors’ sentiment. The 30-share BSE Sensex was down 70.71 points, or 0.09 per cent, to settle at 78,009.25. During the day, it dropped 395.59 points, or 0.50 per cent, to 77,684.37. The 50-share NSE Nifty dipped 29.85 points, or 0.12 per cent, to end at 24,366. From the Sensex pack, Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India and HCL Tech were among the major laggards. Bharti Airtel, Adani Ports, ICICI Bank

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