9 FINANCEOUTLOOKINDIAJULY, 2026INDIA-US TRADE TALKS END WITHOUT CLARITY ON INTERIM DEALBENGALURU AIRPORT PROPOSES UDF CUT; AIRFARES MAY GET CHEAPER SOONBANKING LIQUIDITY DEFICIT HITS RS 19,971 CR; RBI INJECTS RS 1.41 TRNINDIA'S PRIVATE SECTOR GROWTH SLOWS IN JUNE AS PMI HITS 3-MONTH LOWSQUARE YARDS ENTERS UNICORN CLUB AFTER RS 900 CRORE FUNDRAISEThe latest round of high-level talks between India and the United States on the proposed interim trade agreement has ended without giving any clarity of a timeline for the deal to be finalized. Commerce and Industry Minister Piyush Goyal led the talks during his two-day visit to New Delhi by US Trade Representative Jamieson Greer. A proposal by Bengaluru International Airport Ltd (BIAL) to reduce airfares for passengers who fly out from the airport is expected to come to fruition soon if it gets regulatory approval. To help sustain passenger growth and ensure the financial sustainability of the airport's investments, the airport operator has proposed a substantial cut in User Development Fees (UDF) for departing passengers from 1 September 2026. India's banking system liquidity has slipped into deficit for the first time in nearly three months, primarily due to advance tax outflows and increased currency leakage, prompting the Reserve Bank of India (RBI) to step in with a sizable liquidity infusion. The banking system recorded a liquidity deficit of Rs 19,971 crore, reversing the surplus conditions that had prevailed since March. India's private sector growth slowed in June due to a lack of demand in both manufacturing and services, the latest data on the HSBC Flash Purchasing Managers' Index (PMI) showed. The weakness was a result of a gradual slowdown in business activity after a few months of robust growth, but business activity still remained in positive territory. Real estate and mortgage plat-form Square Yards has joined the unicorn club with a Rs 900 crore funding round - backed by debt and equity investors - rais-ing its valuation beyond the $1 bil-lion mark. EAAA Alternatives led the funding round, which also featured the involvement of global corporate credit manager Muzinich & Co. ended marginal lower, and silver prices continued to stay subdued with the ongoing selling pressure in precious metals.The gold futures on the Multi Commodity Exchange (MCX) for August delivery were 0.16% down at Rs 1,41,220 per 10 grams in morning trade on the exchange. Silver futures also tumbled by 0.96 percent to Rs 2,11,710 per kg. This dollar strength comes at a time when bullion prices are falling.
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