IBTimes

India's foreign exchange reserves rose by $12.4 billion to a record $729.3 billion in the week ended August 21, supported by strong overseas inflows following RBI measures to attract foreign capital. The higher reserves give the RBI greater room to support the rupee amid elevated crude oil prices and global uncertainties.

HDFC Bank is facing a federal securities class-action lawsuit in New York over allegations that it disguised around Rs 45 crore in differential interest payments to Maharashtra State Road Development Corporation (MSRDC) as marketing expenses.

The Economic Offences Wing (EOW) of the J&K Police Crime Branch has arrested Junaid-ul-Islam from Bengaluru in connection with an alleged Rs 2-crore investment fraud case. The accused allegedly collected money from several people in Kashmir by promising monthly returns of 10 per cent while claiming an association with an e-commerce company.

Ladakh is planning to build the world's highest-altitude cricket stadium at Ranbirpur near Thiksey in Leh at an elevation of around 11,800 feet. The proposed Rs 100-crore project is expected to boost sports tourism, provide better facilities for local athletes and take cricket to a record altitude, surpassing Dharamshala's HPCA Stadium.

Jammu and Kashmir Chief Minister Omar Abdullah said issues concerning the Union Territory must be resolved by New Delhi and not Washington during his meeting with US Ambassador Sergio Gor. Meanwhile, former CM Mehbooba Mufti urged Gor to review and withdraw the US travel advisory for Kashmir, saying it was hurting tourism and the livelihoods of thousands of families.

National Conference president Dr Farooq Abdullah has written to 52 leaders of national and regional political parties, including the INDIA bloc allies and Jammu and Kashmir-based leaders, inviting them to join the party's proposed protest at Jantar Mantar in New Delhi for the restoration of statehood to Jammu and Kashmir.

The Jammu and Kashmir Anti-Corruption Bureau (ACB) has registered an FIR against five Food, Civil Supplies and Consumer Affairs (FCS&CA) officials and nine Fair Price Shop dealers for allegedly embezzling government food grains worth over Rs 5.57 crore meant for Below Poverty Line (BPL) families in Kupwara's Karnah area.