CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism. The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring. The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices. The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June. Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law. Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The Prime Minister, Dr. Manmohan Singh has inaugurated the four year long celebrations of Swami Vivekananda's 150th birth anniversary in New Delhi today. Following is the text of the PM's speech on the occasion:
"I am honoured to be present here today on this very happy occasion of the inauguration of the four year long celebration of 150th Birth Anniversary of Swami Vivekananda.
It was on a September day in 1893 that a young man from India, dressed in the traditional saffron robes of a Hindu monk, addressed the Parliament of Religions in Chicago. It was the first time he had gone abroad and it was the first time he was speaking in public. Yet his first few words beginning with his greetings to the 'sisters and brothers of America' electrified the audience and brought forth an applause that lasted for over two minutes.
Swami Vivekananda's Chicago address is a proud moment in India's history and it heralded the arrival of one of India's greatest spiritual leaders on the world stage.
Swami Vivekanandaji dedicated his life to the service of his motherland and to the spiritual awakening of Indian people. He worked to instill pride in his countrymen in their cultural heritage. He tried to build a national consciousness that was modern, rational and universal.
It is a deep honour for me to be able to offer my homage to this great noble son of India, who by his words and his work inspired millions of people in our country as well as in foreign lands.
Swami Vivekananda's dress was that of a sanyasi; his calling was that of a religious leader and profound spiritual thinker. But he was not an ordinary man and his intellect and vitality would not allow him to be confined to a life of renunciation. Swami Vivekananda was always engaged with the people and he worked for their well-being and for their betterment. He travelled the length and breadth of the country and sought to enrich Indian religious thought by emphasizing the importance of work and commitment to the people in his teachings.
Vivekananda tried to spread his ideas by speaking directly to the people, especially to the youth. He believed that the absence of self-respect was at the root of India's weakness. He exhorted the people to inculcate self-respect. He wanted every Indian to be proud of being an Indian and being capable of saying that every Indian is my brother or sister. His message broke through the shackles of caste and creed and spoke of a language of universal brotherhood.
When Mahatma Gandhi visited Belur Math on Swami Vivekananda's birthday in 1921, he said, "I have gone through his works very thoroughly, and after having gone through them, the love that I had for my country became a thousand-fold."
What Gandhiji said captures the great importance of spreading Swami Vivekananda's ideas and ideals among the youth in our country today. He personified the eternal energy of the youth and their restless quest for truth. It is entirely fitting that the Government of India has declared 12th January, the birthday of Swami Vivekananda, as National Youth Day. We must work to rekindle the eternal message of this great patriot and son of India.
To carry forward his ideas, Swami Vivekananda established the Ramakrishna Mission, an organization that would be devoted to spreading the message of his spiritual master, Ramakrishna Paramhansa, while working for the welfare of the people. It is a tribute to his vision that the Ramakrishna Mission continues to earn enormous goodwill among the people a hundred years after its establishment. The monastic order has 172 branches across the globe, of which 128 are in India. The Ramakrishna Mission is widely recognized for its commendable work in the areas of value based education, culture, health, women's empowerment, youth and tribal welfare and relief and rehabilitation.
I fervently hope that Swami Vivekananda's 150th birth anniversary will be an occasion to expand the activities and good work being done by the Ramakrishna Mission. I can assure the Mission of our government's full support and co-operation in the fulfillment of the noble mission.
The Government of India has set up a National Committee, under the chairmanship of the Prime Minister, to guide the conduct of the commemorations of the 150th Birth Anniversary of Swami Vivekananda in a befitting manner.
During its first meeting last year, a number of constructive suggestions were made for events and activities to popularize the teachings of Swami Vivekananda during this anniversary year. These suggestions include the publication of his complete works, international conferences and seminars on his teachings, establishing chairs in universities, annual lectures, encouraging research in inter-faith dialogue and involving states and local organizations in commemorating Swami Vivekananda's travels in India. I expect that these ideas would soon be translated in to concrete plans of action which could be ready for implementation by the year 2013.
The Government of India has already approved a film on Swami Vivekananda by the Public Service Broadcasting Trust.
We should make special efforts to commemorate Swami Vivekananda's Address in Chicago. I understand that there is a plaque placed at the spot in the Art Institute of Chicago where the historic address was delivered and that the City of Chicago has also named the stretch of the Avenue on which the Art Institute of Chicago is located as the Swami Vivekananda way. We are working on a suitable commemorative event in Chicago.
Swami Vivekananda had very definite and enlightened views on education. He conceived of education as the primary means of rebuilding Indian society. He once said:
'The education which does not help the common mass of people to equip themselves for the struggle for life, which does not bring out strength of character, a spirit of philanthropy, and the courage of a lion - is it worth the name? Real education is that which enables one to stand on one's own legs.'
Our government has approved in principle a grant of Rs. 100 crores for a "Value Education Project" of the Ramakrishna Mission. I sincerely hope that the project will help to inculcate in our children a moral compass and a value system that provides a bulwark against the tide of commercialism and consumerism that is sweeping our societies.
I wish to end by returning to the life and message of Swami Vivekananda. He was born when India was under colonial subjugation but was never overcome with either despondency or cynicism. He confronted reality and worked tirelessly to change it. He said:
'To succeed, you must have tremendous perseverance, tremendous will. "I will drink the ocean," says the persevering soul, "at my will mountains will crumble up." Have that sort of energy, that sort of will, work hard, and you will reach the goal.'
Swami Vivekananda believed in the people of India. We need to rededicate ourselves to that belief and to his mission of building a self-confident India where each citizen has the right to his or her own self-respect, dignity and well being. With these words I once again express my great happiness for being present on this very auspicious occasion."
National Committee to guide commemorations, promote value education and institutionalize Vivekananda's social and cultural initiatives.
The Government of India has established a National Committee, chaired by the Prime Minister, to guide four years of commemorative activities for Swami Vivekananda, translating suggestions-publication of his works, international conferences, university chairs, annual lectures, research in inter faith dialogue, state and local involvement, and a commemorative event in Chicago-into implementable plans; government approval in principle extends to a Value Education Project of the Ramakrishna Mission and to a film project, with an express assurance of support and cooperation to expand the Mission's welfare, education, health and outreach programmes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 3352
Join Channel
TaxTMI 