The US warned New Delhi that Russian oil was being exported via high-seas transfers to hide its origin – in violation of US sanctions, a top Indian banker official said on Saturday.

"The optimism came on the back of a US consumer inflation rate that eased in July after hitting the peak a month before," Prashanth Tapse, a research analyst at Mehta Equities, said.

Companies in India use the UAE dirham, the HK dollar, yuan or euro when buying Russian coal, in a bid to avoid the dollar and US sanctions, according to customs data and industry sources

The central bank is likely to hike its policy rate by 60 basis points by December, indicating 10-year yields may test a three-year high in coming months, says ICICI Securities Primary Dealership.

Six Russian cargo vessels and at least one oil tanker sanctioned by the US for their history of transporting weapons for Moscow or oil from Iran docked in India over the past month

India's top rice-producing states of Bihar, Jharkhand, West Bengal and Uttar Pradesh have recorded a monsoon rainfall deficit of as much as 45% so far this season

Economists had predicted the Reserve Bank of India would hike the repo rate by 25 or 50 basis points, given retail inflation hit 7% in June.

The new target will focus on renewable and nuclear power, said the report, taking another step towards India's net zero by 2070 ambition

India's trade deficit and global flows to safe-haven US dollars are key reasons why analysts expect the rupee to trade near its historic low to the dollar over the next three months.

India's Directorate of Revenue Intelligence said an investigation had detected customs duty evasion

World's No2 mobile market set to roll out its next-gen high-speed wireless network by October with Jio, Airtel, Vodafone claiming slices

Reliance Jio Infocomm outspent key rivals Airtel and Vodafone, Nikkei Asia reported.