The RBI's Central Board has conducted its 624th meeting on Friday. The current economic situation, global and domestic challenges, risks to economic outlook, and functioning of its committees and Ombudsman Scheme, were the subjects discussed in the meeting.

Rupee export payments: Two paragraphs of the Foreign Trade Policy (FTP) 2023 have been amended “to align the provisions relating to denomination of export contracts and eligibility for FTP benefits in respect of export realisation in Indian Rupees with the Foreign Exchange Management (Manner of Receipt and Payment) Regulations 2023”, the Directorate General of Foreign Trade (DGFT) said in a notification.

India’s core sector growth slowed to 5.4% in July under the revised index series, with iron ore added and mixed performances across coal, cement, electricity, steel and crude oil.

The Indian government is set to conduct an underwriting auction for the sale (re-issue) of Government Securities (G-Sec) worth Rs 28,000 crore on Friday, August 21.

Brent crude price today: Brent crude futures for ‌October delivery surged 25 cents, or 0.3 per cent. Both ​Brent and WTI benchmarks gained for a fourth straight session ⁠on Wednesday, settling at their highest since July 24. The September WTI ​contract expires later on Thursday.