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    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
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August 6, 2026
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Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
August 5, 2026
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Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
August 5, 2026
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Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
August 5, 2026
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Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
August 5, 2026
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On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
August 5, 2026
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Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
August 5, 2026
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Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
August 5, 2026
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Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
August 5, 2026
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Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
August 5, 2026
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Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
August 5, 2026
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Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
August 5, 2026
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Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
August 5, 2026
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Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
August 5, 2026
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Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
August 5, 2026
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Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
August 5, 2026
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Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
August 5, 2026
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Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
August 5, 2026
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Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
August 5, 2026
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Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
August 5, 2026
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Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.

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Customs, DGFT & SEZ

President Inaugurates Coir Board Diamond Jubilee Celebrations

November 25, 2013

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Coir Industry - Playing A Pivotal Role in the Development of the Rural Economy

Shri Pranab Mukherjee, President of India inaugurated the Coir Board Diamond Jubilee Celebrations here today. The President said that he was happy to note that the coir industry has grown into a highly successful sector and has spread into other coconut growing States and today, thousands of household units are engaged in fibre extraction and spinning of coir yarn throughout the coir producing regions. The industry employs about 7 lakh workers, predominantly women in more than 14 states and Union Territories and is amongst the foremost foreign exchange earning industries in the country with a positive growth trajectory.

The President also lauded the efforts of the Coir industry for evolving in a remarkable way - in terms of quality improvement, technological and scientific upgradation of the products, better market research and product promotion – to become a net earner of over 1100 crores from the export of its products, and added that in the 12th Plan, sufficient allocations have been made to this traditional agro-based cottage industry to enable it to expand further. Its further growth is bound to have a positive multiplier effect as most of the units in this industry are in the rural segment of our economy – in the category of micro industries and nearly 40% are small and medium scale production units.

The President added that coir wood, a new innovation, is an important outcome of the research carried out by the Coir Board – and this product is fast establishing itself as a substitute for a traditional wood.

In the coir industry where 80% of the workforce is constituted by women, the President said that it is commendable that the Coir Board has developed the Mahila Coir Yojna Scheme to specifically focus on women in rural areas – and train them to take up spinning of coir yarn and other simple processes in coir manufacturing. This opening is an opportunity for them to not only contribute, but also develop their own self–confidence and self-reliance. The Coir Board is taking several measures to improve the living conditions of coir workers and helping them to optimize the returns on their efforts and the resources invested by them.

The Minister of MSME (Independent Charge), K. H. Muniyappa also congratulated the Coir Board for its successful efforts and continuous innovation of new products to popularize this natural, eco-friendly fibre and added that the coir industry has been playing a pivotal role in the development of the rural economy in the coconut producing States of the country and is expanding in many non-traditional States at a fast pace and providing significant employment and income to rural artisans of these States.

The Minister said that the MSME sector as a whole provides livelihood to around 8 crore people through 3.6 crore enterprises. Coir is one of the major traditional industries catered to by the MSME Ministry. Coir industry is a labour intensive industry and is concentrated in the coastal belt of the country where the employment opportunities are limited. The coir industry has been maintaining its growing trend over a decade now in spite of heavy odds like shortage of raw materials, stiff competition from synthetic products, etc. and congratulated the manufacturers, workers and experts other stake holders of the industry for being able to sustain the growth in the industry with their persistent efforts.

The Minister added that due to the concerted efforts of the Coir Board, coir industry has now attained a national status with its presence in 14 States and Union Territories including North Eastern States like Assam & Tripura. Coir Board has come up with an array of technologies and machinery to cater to the current developmental needs of the coir industry. The latest addition to these wonderful array of machinery items, that is a versatile spinning machine which can produce large quantities of coir yarn without core thread through an entirely new spinning technology and diversified products like coir jacket, coir chappal, coir umbrella, coir curtains, coir pith binderless board etc.

Union Minister of State for Human Resource Development, Shri Shashi Tharoor highlighted the need for a brand ambassador for coir to globally spread the message and activities of the Board. The Coir Board should collaborate with National Skill Development Agency, an autonomous body that coordinates the skill development efforts of the government and the private sector to achieve the skilling targets of the ongoing 12th Five Year Plan and beyond, he said.

Shri Tharoor also stressed the need to raise the level of income in the coir industry, stem the below-par achievements of mechanisation and kindle interest among youngsters to join the traditional sector.

Prof P J Kurien, Deputy Chairperson of the Rajya Sabha, said the workers welcoming modernisation was a good sign for the industry and further added that the Board is into diversification in a big way - the wood being produced out of coir is checking deforestation. The manure-infused coir pith has proved to be a substitute for soil, thereby promoting horticulture. Then there are geo-textiles which are an excellent deterrent to soil erosion.

MSME Secretary, Shri Madhav Lal said that the Diamond Jubilee Celebrations will generate awareness about the inherent potential of the sector, elevate the coir products to greater heights of popularity and attract sophisticated buyers and further added that in the highly environmentally sensitized world, non-traditional products like coir-pith, compressed grow-bags and coir composites have caught the imagination of sophisticated overseas markets and the sector holds a lot of potential for innovative, non-traditional, value added products which can convert the other-wise waste into not only a high foreign exchange earner for the economy, but also a cost effective way of creating sustained employment in coastal and other areas, especially in the rural India.

The Secretary said that the Ministry of MSME intervenes through Coir Board in areas of modernization of production processes, development of machinery and equipments, product development and diversification, development of environment friendly technologies, technology transfer, incubation, testing and service facilities, development of skilled manpower, women-oriented self employment, Development of production infrastructure, domestic and export market promotion and welfare measures like Coir Workers’ Group Personal Accident Insurance Scheme for the benefit of coir workers. 26 coir clusters have been taken-up for development under SFURTI by providing common facilities and other infrastructural support.

Professor Balachandran, Chairman, Coir Board said that the Coir Board was working on combining coir with other natural fibres such as silk, jute and sisal to bringing out more innovative products. “That day is not far when coir will find a place in the manufacturing of moulded furniture, TV cabinets and car dash-boards,” he added.

As a part of the Diamond Jubilee Celebrations, the Coir Board has planned a series of activities to be held during the month of November, 2013 which include: World Coir Fair coinciding with IITF 2013, Exhibitions at Dilli Haat and other locations, International Buyer Seller Meet, National Seminar on innovative coir products, Women’s Meet on self employment opportunities in coir industry and Coir Road Show from Kanyakumari to Jammu Tawi to popularize the environment friendly properties of coir products and the contributions of this industry to the rural economy.

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