Motorola-Lenovo announces the Moto E 2016 for £99 (~9500rs). Coming to the UK this Sept.

[iPwnz]

Probable specs:
5" display, likely to be 720p.
Qualcomm 4XX chipset with Quad core processor
8GB storage, 2GB RAM
2800 mah battery
8MP primary camera
Comes with Android M.
£99
May not be released in the U.S.

The 2016 update to the Moto E is now official with a larger 5-inch display and an approximate release date of early September in the UK.
There are still a lot of details missing with regard to the hardware. We know the Moto E 2016 will have a 5-inch HD (presumably 720p) display, whereas the 2015 model was 4.5-inches. The battery is 2800mAh. It will again have a quad-core SoC, but we don't know which one. RAM is also not mentioned. This phone ships with Marshmallow.

The camera is 8MP this year, up from 5MP last time. There's also a flash, which was missing from the Moto E 2015. So far, the Moto E is only official for the UK, where it will retail for £99 (about $132). That's more than the $100-110 price of the 2015 phone at launch.

http://www.androidpolice.com/2016/07/14/2016-moto-e/

A bit pricey IMO. If it had retained the same $99 pricing it would kick its competitors away.