India's central government has authorized 15 banks to import gold and silver for a three-year window running from April 1, 2026 to March 31, 2029. The approved institutions include State Bank of India, HDFC Bank, Axis Bank, and Bank of India, among others. The authorization formalizes the import channel through which the bulk of India's precious metals supply flows, as banks serve as the primary conduit between global bullion markets and domestic demand. India is one of the world's largest consumers of gold, and bank-led import licenses directly shape the volume, pricing, and availability of bullion in the domestic market. Extending the authorization through March 2029 provides multi-year import certainty, reducing operational ambiguity for jewelers, refiners, and traders who source metal through these institutions. The key variable to watch is whether the government attaches revised duty structures or quantity caps to the new authorization period, either of which would materially affect landed cost and retail gold prices.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
