India's Central Bank Holds Rates as Rupee and Markets React

In early August 2026, India's central bank, the RBI, paused its repo rate, and the rupee closed at a one-month high while sliding crude oil prices helped. The RBI governor also said India will get its first plastic notes next year.

Separately, Meta apologised to India for restricting a post by Prime Minister Modi, and Visa cut 2,600 jobs as it pushes into AI, with employees in India caught off guard. India is also weighing a gas levy to fund a planned $42 billion fuel reserve, and hospital chain Manipal Health jumped on its market debut at a $9 billion valuation.