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The Reserve Bank of India proposed a ban on revolving credit facilities for most NBFCs. Under the draft amendments to the 2025 Directions, these companies must only offer term loans. The RBI said an NBFC "shall only offer credit products which are in the nature of term loans."
Bengaluru startup Aule Space is developing jetpack satellites to dock with ageing spacecraft and extend their life. CEO Jay Panchal said, "It's like a power bank." The company recently tested its guidance system at an Isro facility and plans an in-orbit demonstration next year to help save expensive satellite assets.
The Reserve Bank of India will allow lenders to restrict devices bought on EMI financing starting January 1, 2027. Lenders can gradually limit phone functions if a loan is over 30 days overdue. However, emergency calls must remain accessible. The bank also eased disclosure rules for recovery agents after industry feedback.
India is reviewing its model bilateral investment treaty, a senior finance ministry official said on Friday. The cabinet will decide on changes to attract more foreign capital. "We are looking at what are red flags and we have a negative list," said economic affairs secretary Anuradha Thakur in New Delhi.
US Ambassador to India Sergio Gor met industry leaders on Friday to advance US-India collaborations. He discussed manufacturing and innovation with Rolls-Royce heads. Gor said, "Together, we are building a more secure and prosperous future, one engine at a time." They also explored critical minerals and space technology partnerships.
Gold prices fell marginally on August 7, 2026, across major jewellery brands. Tanishq kept its 22k gold rate at Rs 13,770 per gram, same as August 6, 2026. Meanwhile, Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers saw rates drop to Rs 13,740 per gram from the previous day’s Rs 13,770.
Malaysia Aviation Group said on Friday that it ordered mandatory drug testing for all pilots and cabin crew. This move follows the arrest of a pilot for allegedly transporting drugs to Indonesia. CEO Nasaruddin A. Bakar said, "Operational safety and crew fitness for duty are non-negotiable." Pilots must finish screening by August 15.
Volkswagen’s controlling families said on Thursday that the group must act now to stay competitive against Chinese rivals. Board chairman Hans Dieter Poetsch noted, "The longer decisions are delayed, the bigger the problems will become." Meanwhile, Porsche SE reported a 14.5% drop in adjusted half-year earnings on Friday.
Chennai Metro Phase 2 work reached 54.62 per cent physical progress, Union Minister Tokhan Sahu said in the Lok Sabha. The 118.9-km project features three new corridors that will link the airport, IT hubs, and suburbs. These routes add 128 stations, helping many commuters travel easily across the city every day.
Siemens Energy India reported a 68 percent jump in net profit to ₹441 crore for the April-June quarter. Revenue rose 39.3 percent to ₹2,486 crore, supported by a strong order backlog. Managing Director Guilherme Mendonca said, "Our strong Q3 FY2026 performance underscores the resilience of our business model and disciplined execution."
India is preparing a production-linked incentive scheme to boost domestic polysilicon manufacturing, Santosh Kumar Sarangi said on Friday. This move aims to cut import dependence on China as India targets 500 gigawatts of non-fossil fuel power by 2030. The initiative will build an integrated solar manufacturing ecosystem across the country.
On May 30, the USFDA approved Zaynich, an injectable antibiotic developed by Mumbai-based Wockhardt. This marks the first New Chemical Entity fully developed by an Indian company to get such approval. Dr. Habil F. Khorakiwala said it represents a historic milestone for the Indian pharmaceutical industry, showing massive growth since 1947.