Stock market crash: Selling pressure gathered pace during the second half of the session after US President Donald Trump declared that the interim agreement with Iran to end the conflict was "over," reigniting fears of further escalation in the Middle East.

India's central bank has reiterated its preference for a cryptocurrency policy "leaning towards prohibition," warning that crypto assets and stablecoins could threaten financial stability and monetary sovereignty, according to internal government documents reviewed by Reuters.

Pocket FM has appointed former Bank of America executive Abhilash Padival as its Chief Financial Officer (CFO), strengthening its leadership team as it scales global operations and advances its long-term growth strategy.

The Central Board of Direct Taxes has notified the Core Settlement Guarantee Fund for tax exemption. This exemption applies to assessment years from 2019-20 through 2026-27. The move ensures continuity of tax benefits despite the new Income Tax Act. The fund must file its income tax return and remain SEBI recognised. This notification preserves the fund's tax treatment under transitional provisions.

The National Financial Reporting Authority (NFRA) has initiated its investigation into the alleged financial misstatement case involving Rajesh Exports, with Chairman Nitin Gupta confirming that the audit regulator has begun its process following a referral from the Securities and Exchange Board of India (SEBI).

Chairperson Nitin Gupta asks auditors to evaluate cumulative and qualitative impact of misstatements, strengthen communication with audit committees and boards before issuing audit opinions.

Prime Offices Fund has successfully raised Rs 4,000 crore in its initial funding round. The fund has already committed nearly half its capital to acquire three office properties. This expanded corpus reflects strong investor demand for Indian commercial real estate opportunities. The fund's portfolio now spans approximately four million square feet of office space. It houses over seventy occupiers, including many Global Capability Centres.

The Securities and Exchange Board of India (SEBI) has notified amendments to the Foreign Portfolio Investors (FPI) Regulations, replacing the US dollar-denominated fee structure with a rupee-denominated payment mechanism for foreign investors and foreign venture capital investors (FVCIs).

India's $35 billion microfinance sector faces fresh risks as weak monsoon forecasts and persistent inflation threaten rural incomes, increasing the likelihood of loan defaults. According to S&P Global Ratings, borrowers with loans from multiple lenders are already showing higher delinquency rates.

Indian stock markets experienced a decline on Wednesday as oil prices surged. Benchmark indices Sensex and Nifty fell significantly due to renewed Iran-US conflict escalations. Broader market indices also slipped into the red, reflecting widespread bearish sentiment. Foreign investors, however, continued their buying trend for a fifth consecutive session. The Indian rupee opened lower against the US dollar amid these developments.

The industry told commerce minister Piyush Goyal that the scheme had exceeded all its targets with production more than doubling to $71 billion in FY26 from $30 billion in FY20 and exports rising 10 times to $29.4 billion from $3 billion.

Consumer financing reached new highs in the June quarter. This surge was fueled by greater financing of electronics and rising prices. Banks and NBFCs saw significant growth in consumer durable loans. Financing now accounts for a larger share of smartphone sales. Extended financing tenures help keep monthly installments affordable for consumers.

Union Finance Minister Nirmala Sitharaman on Tuesday called on the Indian toy industry to set more ambitious export goals, saying India has the capability to capture a much larger slice of the projected USD 179 billion global toy market by 2032, instead of limiting itself to the projected USD 5 billion market by 2034.

The Institute of Chartered Accountants of India's networking guidelines have been put on hold. Influential Big 4 firms lobbied the government against these new compliance rules. The guidelines introduced onerous compliance and penal provisions for local audit firms. The Ministry of Corporate Affairs also raised concerns with the ICAI. This development seems to have paid off for the global consultancies.

The National Financial Reporting Authority (NFRA) has initiated its investigation into the alleged financial misstatement case involving Rajesh Exports, with Chairman Nitin Gupta confirming that the audit regulator has begun its process following a referral from the Securities and Exchange Board of India (SEBI).

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications filed before March 31, 2026, will be processed under the new law. Lower or nil TDS certificates issued previously remain protected and valid. New applications filed after April 1, 2026, will follow the 2025 Act. Taxpayers need not take additional action for this transition.

Earlier, the Statistics Ministry constituted a Technical Advisory Committee on ISP (TAC-ISP) in May 2025 under the Chairpersonship of Debjani Ghosh, Distinguished Fellow, Niti Aayog.

India's E-way bill generation under the Goods and Services Tax (GST) in June this year registered a robust 14.5 per cent increase to 136.77 million from 119.46 million in the same month of the previous year, reflecting the rising level of economic activity in the country.

Industry leaders and financial experts highlighted the necessity of integrating Artificial Intelligence (AI) into financial reporting and corporate auditing while maintaining rigorous human oversight to safeguard against rising fraud risks.

​Two companies, namely Reliance Infrastructure Ltd and Reliance Home Finance Limited (RHFL), have also been named as accused in the chargesheet filed by the agency before a special court in Mumbai, they said.