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Original analysis, derived from public data. India-anchored.

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An oil tanker docked at an industrial refinery port beside storage tanks, with a hillside and cloudy sky in the background

Business

India's Rupee Trade With Russia Leaves Moscow Holding Money It Cannot Spend

Russian oil's share of India's imports hit a two-year high in May 2026, cast as proof rupee trade with Russia works. The rupees Russia earns are hard to spend, and Washington just showed it can reopen the tariff question at will.

July 26, 2026

Indian rupee banknotes of every denomination, including the pink Rs 2,000 note, pegged to a clothesline outdoors

Business

Why 1.53 Percent of India's Withdrawn ₹2,000 Notes Have Not Returned

RBI says 98.47% of India's withdrawn ₹2,000 notes have returned after three years, a mark that 2016's demonetisation cleared faster and more completely. The difference is that the ₹2,000 note never stopped being legal tender.

July 26, 2026

Rows of vintage memory modules printed with the Micron Technology name, mounted on a computer circuit board

Business

Apple Wants Chips From the Chinese Firms Washington Blacklisted

Apple wants memory chips from the Chinese makers Washington restricted, to escape an AI-driven shortage that is enriching Micron. The exception it is asking for tests how fixed that wall really is.

July 26, 2026

Students in white and red uniforms attentively watching a lesson in an Indian government school classroom

Business

A Paper Leak, Not a Budget Cut, Cost India's Education Minister His Job

Dharmendra Pradhan resigned as education minister citing an exam scandal, not a funding shortfall. The Union budget for his own ministry is already at a record this year, months after a mid-year cut that drew no protest at all.

July 26, 2026

A wooden judge's gavel resting on its sound block on a courtroom desk

Geopolitics

India's Fix for Paper Leaks Is a Court System Already Drowning in Its Own Cases

After a leaked exam paper forced India to cancel and rerun NEET-UG 2026, the government is routing prosecutions to its Fast Track Special Courts. Those courts already have 2,44,479 cases pending and cleared fewer than half of what they registered in 2025.

July 25, 2026

A trader reviews a cryptocurrency price chart on a smartphone during an office meeting, with a laptop and tablet on the desk

Markets

India's New Crypto Self-Regulator Cannot Reach the Traders It Was Built For

A parliamentary panel wants crypto exchanges to police themselves, weeks after the RBI told the same committee virtual digital assets should not be legalised at all. Both proposals arrive years after India's own tax regime pushed most trading beyond either body's reach.

July 25, 2026

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