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(Reuters) -Bank credit at U.S. commercial banks shrank in the latest week as commercial banks pulled back on lending to businesses, data published by the Federal Reserve showed on Friday.

Invesitng.com — Bank deposits, and lending fell in the week ended Aug. 9, the latest data Friday from the Fed showed.

banks in the government securities (g-secs) banks by diversification and encouraging non bank participants such as insurance companies, pension and provident funds helped in lowering borrowing costs for the government a study by the Reserve Bank economists shows «Scenario analysis indicates shallower increase in borrowing costs when non-banks absorb all new government debt compared to when it is absorbed entirely by banks, highlighting that RBI’s continued efforts to diversify the investor pool for G-Secs are well calibrated» said a research paper by Reserve Bank economists Amit Pawar, Mayank Gupta, Abhinandan Borad, Subrat Kumar Seet and Deba Prasad Rath published in the central bank's latest monthly bulletin. The authors are from the Department of Economic and Policy Research.

By Saqib Iqbal Ahmed and Laura Matthews

By Gwladys Fouche

Black Sea Fleet, officials said Friday, the latest in a surge of attacks on the capital and the flashpoint waterway. The drone assaults came as a Russian-proxy official confirmed speculation that Ukrainian forces had breached the left bank of the Dnipro river, the de facto frontline in the south of the country. Russia's defence ministry said its air force downed a Ukrainian drone over the capital at about 04:00 (0100 GMT) on Friday.

Narendra Modi underlined on Friday that panchayat chiefs should identify a locally important welfare issue, work in tandem with a cluster of villages, and set a time frame for achieving the target for better results. He said the BJP workers should reach out to the people at the grassroots and move beyond working in silos to boost their achievements. «The post of a party worker never becomes obsolete.

Ukhrul district Friday, police said. Security forces rushed to the area following the incident, which happened after a lull in violence for several days.

William Lai returned on Friday from a sensitive visit to the United States, thanking Taiwanese people supporting a trip he said showed the island's «self confidence» venturing into the international community. «Because of everyone's hard work, Taiwan's power is stronger and stronger, and it showed the international community that Taiwan is a force for good, that the international community really pays great attention to Taiwan,» he said.

China put into force this week its newest regulations on artificial intelligence-generated content, a watered-downed version of stricter draft rules that seek to keep the country in the AI race while maintaining firm censorship on online content. Rapid advancements in generative AI have stoked global alarm over the technology's potential for disinformation and misuse, with deepfake images showing people mouthing things they never said.

renewable energy has sought bids to survey sites identified for offshore wind power projects in Tamil Nadu. A notification released by the ministry showed that the government plans to bid out projects of 4GW capacity on 1 December. Further, in the next financial year, it plans to bid out projects with a total capacity of 3GW.

Nifty companies also showed impressive earnings growth. “Nifty earnings growth has been strong, led by sustained revenue growth and operating margin expansion driving 25% net profit growth for Q1," said Sushant Bhansali, CEO, Ambit Asset Management. In addition to better operating performance, other incomes rose as well.

Narendra Modi on Friday said India is making significant strides towards achieving equitable and collective prosperity, as evidenced by a broader tax base and a rise in the average income of people filing tax returns. Citing two separate analysis, Modi said in a short article posted on social media that research showed that not only have incomes risen but so has compliance, calling it “a manifestation of the spirit of trust which the people have in our government." Citing research by SBI, the PM said the weighted mean income has made “a commendable leap" in nine years, from Rs4.4 lakh in assessment year (AY) 2014 to Rs13 lakh in FY23. In FY23, tax payers filed returns for incomes earned in the previous financial year.

₹10,220 crore of allegedly questionable past transactions of insolvent companies have been taken to tribunals by resolution professionals appointed by creditors. So far, 947 such ‘voidable’ transactions worth ₹2.95 trillion have been questioned by resolution professionals, of which 200 transactions worth ₹44,871 have been dealt with by the tribunals, and over ₹5,200 crore have been recovered, IBBI data showed.

Elon Musk’s SpaceX is among many alleged culprits behind a seismic crypto market crash on Thursday, which has triggered over $1 billion in liquidations over the past 24 hours. Here's the latest.

By Pablo Mayo Cerqueiro

Shriram Housing Finance, with assets under management of Rs 10,000 crore at the end of July, has unveiled a Vision 2026 plan to triple the size, tapping into a burgeoning customer base for home ownership in a country where supply of affordable apartments trails demand in all major urban areas. The mortgage lender, which is in the process of raising $100 million by way of share sale, is looking to double its branch network as well as manpower count in the next two-and-a-half years as part of the growth strategy. «Our aspiration is to take the AUM to Rs 30,000 crore by FY26 and to be the number one affordable housing finance company by then,» managing director Ravi Subramanian told ET.

Tarun Chugh on Friday slammed the appointment of jailed Kashmiri separatist Yasin Malik's wife Mishal Hussain Malik as a special advisor to Pakistan's caretaker prime minister, saying it vindicated India's charge that the country harbours terrorists who attack India. «Mishal Hussain Malik's appointment endorses India's claim that Pakistan is harbouring terrorism and terrorists,» BJP national general secretary and its in-charge for Jammu & Kashmir Tarun Chugh said in a statement.

Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday. Kacholia sold 1,80,489 shares of the company, or 0.6% stake, at Rs 640.01 apiece, bulk deals data on the National Stock Exchange showed. He sold the shares at a premium of around 1% to Thursday’s closing price of the stock.

By Jonathan Stempel

BBC Presenter Stephen Nolan has issued an apology in response to allegations that he sent unsolicited explicit photos to colleagues, a controversy that has recently garnered significant media attention.