The U.S. Embassy in India said U.S. Trade Representative Greer held productive meetings with Indian officials this week.

Reserve Bank of India on Thursday put out draft rules proposing to expand participation in India's term money market to shadow banks and corporates to deepen funding markets and broaden short-term liquidity channels. Under current rules only banks and independent primary dealers trade in the term money market under prudential limits. The draft would allow non-bank financial companies, including mortgage lenders, to act as borrowers and lenders in term money-market transactions; corporates would be permitted to participate as lenders. Smaller NBFCs would be excluded. The RBI said the reform was first flagged in April's monetary policy statement and the draft will be subject to public consultation.

Pasechnik, the Russia-appointed head of Luhansk region, said on social media on the 26th that Ukrainian forces launched a drone strike that killed two and wounded four. The injured were taken to medical facilities for treatment.