Activist Sonam Wangchuk has broken his 26-day fast on Thursday (July 23, 2026), as reported by The Hindu. The fast was broken in the presence of two Union Ministers on certain conditions, according to Leh Apex Body co-convenor Cherring Dorjay Lakruk. The government provided written assurance that cases against students will be taken back if they are not violent, and also committed to consider compensation for NEET aspirants who took their lives. This development comes after Prime Minister Narendra Modi addressed student concerns through social media posts, acknowledging that the NEET paper leak was 'an injustice that inflicts severe distress upon millions of aspiring students and their families.'
In response to the crisis, Prime Minister Modi announced fast-track courts to ensure swift punishment for paper leaks, as reported by The Hindu. The Delhi High Court designated Judge Anu Grover Baliga as Special Judge of the fast-track court to deal with criminal cases arising from paper leaks and unfair means in public examinations. Modi stated that 'the offenders have been arrested, and they now stand behind bars' after swift, uncompromising measures over the past two and a half months. The government has also committed to consider compensation for NEET aspirants who took their lives, addressing one of the key demands of the protesters.
Student protests sweeping parts of New Delhi have emerged as a political challenge for Prime Minister Narendra Modi, but they have yet unsettled the country's financial markets. According to reports from Bloomberg News, despite days of demonstrations, investors have largely remained calm, with equities holding steady and key market indicators showing little sign of stress. The India VIX, a measure of implied volatility for stocks, is below the level on June 6 when the demonstrations started and is trading in a narrow range. However, the protests have now escalated into what political analysts describe as one of the biggest challenges to Modi's third term, with the government appearing increasingly on the backfoot.
The rupee has slipped 0.3% this week, nearing a record low, though its movement was largely driven by the oil-price outlook rather than concerns over the protests. Meanwhile, the 10-year bond yield is capped below 7% amid foreign inflows, as reported by Bloomberg News. The Indian markets were already among Asia's worst performers this year as a spike in crude prices after the US-Iran war in West Asia increased inflationary pressures.
The protests have now escalated into what political analysts describe as one of the biggest challenges to Modi's third term, with the government appearing increasingly on the backfoot. As reported by AFP, author and political analyst Nilanjan Mukhopadhyay stated that 'If he (Modi) drops Pradhan now, then it is going to be seen that public pressure has won. And that is going to be very dangerous for Modi.' A government source confirmed that a delegation of the Cockroach Janta Party will meet with Ministers on Friday (July 24, 2026) at 12.30 p.m., though the venue has not been disclosed. The CJP is yet to comment on this development.
