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Indian Oil Corporation has significantly increased its spot crude purchases to nearly eighty-four percent. This strategic shift occurred after Middle East supply routes faced disruptions. The company also diversified imports from West Africa and Latin America. Despite higher crude costs, Indian Oil reported its highest-ever first-quarter crude throughput. Fuel sales and market share saw notable increases during the period.

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Indian Oil ramps up spot crude purchases as Middle East disruptions hit supplies https://timesofindia.indiatimes.com/business/india-business/indian-oil-ramps-up-spot-crude-purchases-as-middle-east-disruptions-hit-supplies/articleshow/132786908.cms
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Foreign exchange inflows under RBI's special swap facility reached $40.816 billion by July end. This figure nearly doubled from $20.718 billion reported just two weeks prior. FCNR(B) deposits were the primary driver, contributing $36.725 billion to the total collections. Overseas foreign currency and external commercial borrowings also added substantial amounts. The facility aims to strengthen the balance of payments and incentivize capital inflows.
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Forex boost: RBI's special swap facility draws $40.8 bn in foreign inflows https://timesofindia.indiatimes.com/business/india-business/forex-boost-rbis-special-swap-facility-draws-40-8-billion-in-foreign-inflows-by-july-end/articleshow/132786251.cms
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A US crude oil cargo is heading to Israel after almost three years. The Aframax tanker Captain John loaded the oil in Texas on Thursday. This shipment carries approximately 550,000 barrels of West Texas Intermediate crude. The vessel is chartered by the global trading house Vitol for this journey. This event occurs amid ongoing disruptions in the Strait of Hormuz.
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US crude bound for Israel for first time since 2023 https://timesofindia.indiatimes.com/business/international-business/us-crude-bound-for-israel-for-first-time-since-2023/articleshow/132785392.cms
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India's gross Goods and Services Tax collections reached over Rs 2.11 lakh crore in July. This represents a significant 15.4 percent increase compared to the previous year. Higher revenues from both domestic transactions and imports contributed to this strong performance. The government also maintained a healthy pace of refunds, totaling Rs 29,968 crore. Net GST revenue after refunds remained robust, indicating sustained growth in the indirect tax base.
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GST collections jump 15.4% to over Rs 2.11 lakh crore in July https://timesofindia.indiatimes.com/business/india-business/gst-collections-jump-15-4-to-over-rs-2-11-lakh-crore-in-july/articleshow/132783496.cms
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Bloomberg delays India’s bond index inclusion https://timesofindia.indiatimes.com/business/india-business/bloomberg-delays-indias-bond-index-inclusion/articleshow/132779273.cms
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Cybercriminals are targeting taxpayers during income tax return filing season. They send fake notices via WhatsApp and use cloned tax portals. These scams aim to steal banking credentials and gain device access. Attackers use malware-laden attachments and phishing websites to deceive victims. This campaign exploits the expectation of official communications from the tax department.
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Cybercriminals widen net as assessees rush to meet I-T return filing deadline https://timesofindia.indiatimes.com/business/india-business/cybercriminals-widen-net-as-assessees-rush-to-meet-i-t-return-filing-deadline/articleshow/132779263.cms
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‘Domestic funds own over 20% of Indian companies, FPIs 17%’ https://timesofindia.indiatimes.com/business/india-business/domestic-funds-own-over-20-of-indian-companies-fpis-17/articleshow/132779243.cms
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The Centre's fiscal deficit reached eighteen percent of its annual estimate during the first quarter. Tax revenue saw a modest increase, while capital expenditure rose significantly. Revenue expenditure also experienced a notable rise, driven by subsidies. Increased fertilizer and fuel subsidies were largely due to global price surges. Future fiscal health depends on West Asia conflict duration and energy price stability.
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