RBI Governor Sanjay Malhotra clarified that banks, not the RBI, decide minimum balance requirements. His remarks follow ICICI Bank’s hike for new savings accounts (post-Aug 1) to ₹50,000, up from ₹10,000. Semi-urban and rural branches now require ₹25,000 and ₹10,000, respectively. Malhotra noted wide variation across banks, with some waiving balances entirely, particularly public sector and Jan Dhan accounts, which often exempt customers from penalties.

eAppSys, a UK-based Oracle partner, has expanded its Global Innovation Centre in Hyderabad, increasing capacity for 400 professionals. The move will boost its workforce from 200 to over 500, focusing on Oracle Cloud, AI, ERP, and enterprise transformation. Inaugurated by IT Minister D Sridhar Babu, the centre includes innovation pods, secure zones, and hybrid setups, enhancing delivery to APAC, EMEA, and North America while reinforcing Hyderabad’s role as a global tech hub.

Truemeds, an e-pharmacy and telehealth platform, raised $85M in Series C funding led by Accel and Peak XV, with WestBridge Capital and Info Edge Ventures participating. Funds will drive non-metro expansion, team growth, and a Bengaluru office, aiming to triple reach. Founded in 2019, Truemeds offers affordable medicine alternatives, launched an iOS app, and plans diagnostics. FY24 revenue doubled to ₹315 crore, with reduced losses, competing with PharmEasy and Tata 1mg.

Eyestem Research, a Bengaluru biotech, raised $10M in Series B funding co-led by Raju Barwale and Alkem’s Sandeep Singh. The funds will back Phase 2 trials in India and an IND application to the US FDA. Founded by Jogin Desai, Rajani Battu, and Rajarshi Pal, Eyestem develops cell therapies for eye diseases like dry AMD. Its Eyecyte-RPE therapy replaces damaged retinal cells; Phase 1 data awaits CDSCO Phase 2 clearance.

JioFinance App has added a tax planning and filing module via a tie-up with TaxBuddy, with plans starting at ₹24. Features include Tax Planner and Tax Filing, aiding in regime selection and maximizing deductions under 80C, 80D, etc. Users get personalized deduction mapping, HRA evaluation, return status tracking, and refund monitoring. Hitesh Sethia says the move simplifies tax processes, expanding JioFinance’s intuitive, full-suite financial services platform.

Graas.ai has raised $9M in pre-Series B funding led by Tin Men Capital to expand its Agent Foundry in India. The platform builds autonomous AI agents to solve e-commerce issues like customer acquisition and inventory, offering real-time insights and automated decisions for D2C brands. Founded in 2022, Graas.ai supports 2,000+ brands, processes $1B+ GMV, complies with SOC2, GDPR, ISO, and features agents Hoppr, Cartlyst, Chattr, Turbo, and Extract.

Bengaluru-based Neuralzome Cybernetic raised $2.4M in pre-seed funding led by 8X Ventures, with Turbostart and others participating. Founded in 2023, the deeptech startup develops no-code AI agents and offers Robot-as-a-Service via its NeuralPilot platform with RedPill simulation, cutting training costs and time. Funds will boost R&D in multi-agent autonomy, expand manufacturing, and support entry into North America and Europe.

The Ministry of Heavy Industries has extended the PM E-DRIVE scheme till March 31, 2028, focusing on e-trucks, e-buses, and testing agencies. Launched in October 2024 with a ₹10,900 Cr budget, it replaces EMPS-2024 to boost EV adoption. Subsidies for e-2W and e-3W end March 2026. Incentives cover 5,600 e-trucks (up to ₹9.6 Lakh each). Delhi’s EV policy is also extended to March 2026.

Cloudera and Bhavish Aggarwal’s Krutrim have partnered to boost analytics and data lake workloads for Ola and Krutrim Cloud. Cloudera’s infrastructure will be offered to other enterprises via Krutrim Cloud, enhancing analytics, customer experience, and AI training. Krutrim is building an AI-focused, vertically integrated cloud for India, covering text, voice, and video, to drive innovation across sectors.

Aadhaar face authentication hit 19.36 Cr transactions in July 2025, with a record 1.22 Cr on July 1. Over 150 organisations, including NSAP, use the AI-driven system, benefiting 13.66 lakh people. All 850 NMC medical colleges and central recruitment boards have adopted it. UIDAI logged 2.21 B total authentications (+3.8%) and 39.56 Cr e-KYC transactions, boosting welfare delivery and service access.

India’s defence production hit a record ₹1.51 lakh crore in FY25, up 18% YoY and 90% since FY20. DPSUs contributed 77%, while the private sector rose to 23%. Driven by policy reforms and Aatmanirbhar Bharat, exports reached ₹23,622 crore. Defence Minister Rajnath Singh hailed it as a sign of a strong industrial base.

Antfin Singapore Holding sold ₹4,097 Cr worth of Eternal Ltd. (Zomato) shares at ₹289.91 each, likely cutting its stake below 0.52%. This follows earlier exits by Antfin and Alipay from Zomato and Paytm. Eternal’s Q1 FY26 revenue jumped 70% to ₹7,167 Cr, while profit plunged 90% to ₹25 Cr. Market cap: ₹2,90,234 Cr.

NPrep, founded in 2024 by Prince Kaushik, Utkarsh Paliwal, Gourav, and Shrey Gupta, raised pre-seed funding from All In Capital, IIMA Ventures, and Chegg founder Aayush Phumbhra. The startup will expand courses, enhance its AI skilling platform, and boost placement ties to support nursing students with mock interviews and automated assessments.

Salesforce will acquire Waii, a natural language-to-SQL platform, to boost its Data Cloud. Waii’s metadata-driven tech translates plain language into accurate SQL queries, enhancing data access. Post-acquisition, Salesforce will integrate Waii into Data Cloud to power AI insights across Agentforce and Tableau Next, with completion expected in fiscal Q3 2026

Noida International Airport (NIA) has teamed up with Rapido to offer dedicated last-mile connectivity, featuring pick-up zones, real-time tracking, cashless payments, and 24/7 availability. NIA CEO Christoph Schnellmann stressed the goal of stress-free travel, while Rapido’s Rajiv Bhyri highlighted the tech-enabled, sustainable, and affordable transit experience. Using Rapido’s SaaS model, the partnership aims to ensure competitive fares, fair driver earnings, and seamless integration of app-based mobility within the airport ecosystem.

Cyient Semiconductors and GlobalFoundries (GF) have formed a strategic Channel Partner Agreement, enabling Cyient to resell GF’s semiconductor services and expand access to advanced manufacturing and process technologies. Cyient will provide fabrication, technical consultation, and design enablement. Leaders from both companies highlight the collaboration’s role in driving innovation across sectors like automotive, medical, HPC, and data centers, supported by a dedicated team to strengthen Cyient’s global presence.

Cognizant has launched TriZetto® AI Gateway, integrating generative AI into its healthcare platform to simplify secure, compliant adoption. Serving claims, care management, and customer service, it offers configurable governance, identity management, role-based access, telemetry, and cost transparency. Early adopters saw time savings for care managers and claims processors. Available August 2025 for TriZetto clients, it supports 200M members and 875K providers, paving the way for AI-powered workflow automation.

Infosys has opened its Centre for Advanced AI, Cybersecurity, and Space Technology in Hubballi, Karnataka, as part of its global Living Labs. Inaugurated by ministers MB Patil and Priyank Kharge, the 1,000+ employee hub will serve sectors like manufacturing and finance. Partnering with IIIT Dharwad and KLE Technological University, it will deliver AI-driven solutions, boost North Karnataka’s innovation, and strengthen industry-academia collaboration.

Infibeam Avenues will transfer its e-commerce platform to Rediff.com for ₹800.39 crore, raising its stake in Rediff to 82.7% for strategic control and collaboration in AI, e-commerce, and payments. CEO Vishal Mehta says the deal boosts growth, focus, and agility. Infibeam will prioritise CCAvenue and Phronetic.AI, while Rediff integrates the platform into RediffOne, strengthening enterprise offerings and leveraging its marquee client base, including Government eMarketplace.

IAMAI has urged the government to temporarily exempt data fiduciaries from certain DPDP Act provisions when processing publicly available data for AI model training. It warns current restrictions could burden AI firms, especially startups, stifling innovation. The body seeks MeitY’s amendment to ease data use rules. Reliance Jio and Culver Max disagree, while Google Pay, PhonePe, Amazon Pay, and NPCI have made similar requests under Section 17(5).

During a media briefing while launching GPT-5, OpenAI CEO Sam Altman said, “India is our second-largest market in the world after the US, and it may well become our largest market.” He added, “It’s incredibly fast-growing, but what users are doing with Al, what citizens of India are doing with Al, is really quite remarkable.”

AU Small Finance Bank has made history by receiving in-principle approval from the Reserve Bank of India to become the first Small Finance Bank to transition into a Universal Bank. This milestone reflects AU’s robust business model, sound governance, and commitment to financial inclusion. Led by Founder Sanjay Agarwal, the bank’s journey embodies perseverance and purpose, preparing AU to offer a full range of banking services for a more inclusive and empowered India.

Zepto has introduced its 10-minute medicine delivery service, Zepto Pharmacy, in select areas of Mumbai, Bengaluru, Delhi NCR, and Hyderabad. CEO Aadit Palicha emphasized maintaining high operational standards. The service offers prescription and OTC medicines, expanding Zepto’s offerings and putting it in direct competition with Blinkit and Swiggy’s Instamart in the rapidly growing epharmacy market, projected to reach $12.7 billion by 2033.

CARD91 has launched an AI-powered UPI Credit Scoring Engine, a business rules engine (BRE) that converts real-time UPI data into credit scores. Built for banks, NBFCs, and fintechs, it helps underwrite thin-file customers, boosting approval rates while minimizing risk. CEO Ajay Pandey emphasized its role in responsible lending. Features include behavioral scoring, real-time analysis, automated segmentation, and bureau benchmarking. It supports credit cards, loans, BNPL, and integrates with CARD91’s fintech infrastructure.

RENÉE Cosmetics raised $30M in Series C funding at a $200M valuation, led by Playbook with secondary backing from Midas. The funds will drive product expansion, omnichannel growth in Tier I and II cities, and brand building. Co-founder Ashutosh Valani aims to double the INR 500 Cr ARR to INR 1,000 Cr in two years. RENÉE, founded by Aashka Goradia, Valani, and Priyank Shah, competes with Sugar Cosmetics and MyGlamm.

Chennai-based agritech startup MangoPoint has raised $1 million in pre-Series A funding led by Inflection Point Ventures, with support from The Chennai Angels and others. Founded by Manjula Gandhi Rooban and Prasanna Venkatarathnam, the firm exports chemical-free premium Indian mangoes to North America and Europe. The funds will help expand infrastructure, product lines, and market presence. MangoPoint currently handles 2,000 MT annually, aiming for 20,000 MT in the $60B global mango market.