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    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
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August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
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Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
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QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
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August 19, 2026
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Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
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August 19, 2026
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August 18, 2026
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August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.

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Customs, DGFT & SEZ

NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (COST RECORDS AND AUDIT) AMENDMENT RULES, 2016

February 24, 2016

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GOVERNMENT OF INDIA

Ministry of Corporate Affairs

NOTICE INVITING COMMENTS ON THE DRAFT COMPANIES (COST RECORDS AND AUDIT) AMENDMENT RULES, 2016   Dated the 23rd February, 2016

1.   The Draft Companies (Cost Records and Audit) Amendment Rules, 2016 has been placed on the Ministry’s website at www.mca.gov.in. It has been decided to invite suggestions/comments on the above draft.

2.   Suggestions/comments on above mentioned draft along with the justifications in brief may be sent latest by 08.03.2016 through email at [email protected]. It is requested that the name, contact number and postal address of the sender be indicated clearly at the time of sending suggestions/comments.  

Name, Postal Address, Contact No. of Stake holder ________________  

SL.No

Rule No.

Suggestion (s)

Justification (s)

 

 

 

 

 

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS

DRAFT NOTIFICATION

New Delhi, the …………… March, 2016

G.S.R… (E).-  In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules, 2014, namely:- 

1. (1) These rules may be called the Companies (cost records and audit) Amendment Rules, 2016.

     (2) They shall come into force from the date of their publication in the official Gazette.

2. In the Companies (cost records and audit) Rules, 2014,-

(i) in rule 3, for the Table A and Table B, the following Table A and Table B shall respectively be substituted, namely:-

 (A) Regulated Sectors

Sl. No.

Industry/ Sector/ Product/ Service

CETA Heading (wherever applicable)

1.

Telecommunication services made available to users by means of any transmission or reception of signs, signals, writing, images and sounds or intelligence of any nature under the authorization/ license issued by the Department of Telecommunications, Government of India under Indian Telegraph Act, 1885 and regulated by the Telecom Regulatory Authority of India under the Telecom Regulatory Authority of India Act, 1997 (24 of 1997);

Not applicable.

2.

Generation, transmission, distribution and supply of electricity regulated by the relevant regulatory body or authority under the Electricity Act, 2003 (36 of 2003), other than for captive generation (referred to in the Electricity Rules, 2005);

Generation- 2716; Other Activity- Not Applicable

3.

Petroleum products including activities regulated by the Petroleum and Natural Gas Regulatory Board under the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006);

2709 to 2715; 

Other Activity- Not Applicable

4.

Drugs and pharmaceuticals;

2901 to 2942; 3001 to 3006.

5.

Fertilisers;

3102 to 3105.

6.

Sugar and industrial alcohol;

1701; 1703; 2207. 

 

(B) Non-regulated Sectors  

Sl. No.

Industry/ Sector/ Product/ Service

CETA Heading (wherever applicable)

1.

Machinery and mechanical appliances used in defence, space and atomic energy sectors excluding any ancillary item or items;  Explanation. - For the purposes of this sub-clause, any company which is engaged in any item or items supplied exclusively for use under this clause, shall be deemed to be covered under these rules

8401; 8801 to 8805; 8901 to 8908.

2.

Turbo jets and turbo propellers;

8411

3.

Arms, ammunitions and Explosives;

3601 to 3603; 9301 to 9306.

4.

Propellant powders; prepared explosives (other than propellant powders); safety fuses; detonating fuses; percussion or detonating caps; igniters; electric detonators;

3601 to 3603

5.

Radar apparatus, radio navigational aid apparatus and radio remote control apparatus;

8526

6.

Tanks and other armoured fighting vehicles, motorised, whether or not fitted with weapons and parts of such vehicles, that are funded (investment made in the company) to the extent of ninety per cent or more by the Government or Government agencies;

8710

7.

Port services of stevedoring, pilotage, hauling, mooring, re-mooring, hooking, measuring, loading and unloading services rendered by a Port in relation to a vessel or goods regulated by the Tariff Authority for Major Ports under section 47A of the Major Port Trusts Act, 1963(38 of 1963);

Not applicable.

8.

Aeronautical services of air traffic management, aircraft operations, ground safety services, ground handling, cargo facilities and supplying fuel rendered by airports and regulated by the Airports Economic Regulatory Authority under the Airports Economic Regulatory Authority of India Act, 2008 (27 of 2008);

Not applicable

9.

Iron and Steel;

7201 to 7229; 7301 to 7326

10

Roads and other infrastructure projects corresponding to para No. (1) (a) as specified in Schedule VI of the Companies Act, 2013;

Not applicable

11

Rubber and allied products including products regulated by the Rubber Board constituted under the Rubber Act, 1947 (XXIV of 1947).

4001 to 4017

12

Coffee and tea;

0901 to 0902

13

Railway or tramway locomotives, rolling stock, railway or tramway fixtures and fittings, mechanical (including electro mechanical) traffic signalling equipment’s of all kind;

8601 to 8608

14

Cement;

2523; 6811 to 6812

15

Ores and Mineral products;

2502 to 2522; 2524 to 2526; 2528 to 2530; 2601 to 2617

16

Mineral fuels (other than Petroleum), mineral oils etc.;

2701 to 2708

17

Base metals;

7401 to 7403; 7405 to 7413; 7419; 7501 to 7508; 7601 to 7614; 7801 to 7802; 7804; 7806; 7901 to 7905; 7907; 8001; 8003; 8007; 8101 to 8113.

18

Inorganic chemicals, organic or inorganic compounds of precious metals, rare-earth metals of radioactive elements or isotopes, and Organic Chemicals;

 

2801 to 2853; 2901 to 2942; 3801 to 3807; 3402 to 3403; 3809 to 3824.

19

Jute and Jute Products;

5303, 5310

20

Edible Oil;

1507 to 1518

21

Construction Industry as per para No. (5) (a) as specified in Schedule VI of the Companies Act, 2013 (18 of 2013)

Not applicable.

22

Health services, namely functioning as or running hospitals, diagnostic centres, clinical centres or test laboratories;

Not applicable.

23

Education services, other than such similar services falling under philanthropy or as part of social spend which do not form part of any business.

Not applicable.

24

Milk powder;

0402

25

Insecticides;

3808

26

Plastics and polymers;

3901 to 3914; 3916 to 3921; 3925

27

Tyres and tubes;

4011 to 4013

28

Paper;

4801 to 4802.

29

Textiles;

5004 to 5007; 5106 to 5113; 5205 to 5212; 5303; 5310; 5401 to 5408; 5501 to 5516

30

Glass;

7003 to 7008; 7011; 7016

31

Other machinery and Mechanical Appliances;

8402 to 8487

32

Electricals or electronic machinery;

8501 to 8507; 8511 to 8512; 8514 to 8515; 8517; 8525 to 8536; 8538 to 8547.

33

Production, import and supply or trading of following medical devices, namely:-

(i) Cardiac stents; 

(ii) Drug eluting stents; 

(iii) Catheters; 

(iv) Intra ocular lenses; 

(v) Bone cements; 

(vi) Heart valves; 

(vii) Orthopaedic implants; 

(viii) Internal prosthetic replacements;

(ix) Scalp vein set; 

(x) Deep brain stimulator; 

(xi) Ventricular peripheral shud; 

(xii) Spinal implants; 

(xiii) Automatic impalpable cardiac deflobillator;

(xiv) Pacemaker (temporary and permanent);

(xv) Patent ductus arteriosus, atrial septal defect and ventricular septal defect closure device; 

(xvi) Cardiac re-synchronize therapy ; 

(xvii) Urethra spinicture devices; 

(xviii) Sling male or female; 

(xix) Prostate occlusion device; and 

(xx) Urethral stents: 

9018 to 9022

(ii) in rule 6, in sub-rule (1), the following proviso shall be inserted, namely: - “Provided that before such appointment is made, the written consent of the cost auditor to such appointment, and a certificate from him or it that the appointment, if made, shall be in accordance with the following conditions shall be obtained from the cost auditor: 

(a) the individual or the firm, as the case may be, is eligible for appointment and is not disqualified for appointment under the Act, the Cost and Works Accountants Act, 1959 and the rules or regulations made thereunder; 

(b) the individual or the firm, as the case may be, satisfies the criteria provided in section 141 of the Act;

(c) the proposed appointment is within the limits laid down by or under the authority of the Act; 

(d) the list of proceedings against the cost auditor or audit firm or any partner of the audit firm pending with respect to professional matters of conduct, as disclosed in the certificate, is true and correct.”

(iii) in rule 6, in sub-rule (3), the following proviso shall be inserted, namely: - “Provided that the cost auditor appointed under these rules may be removed from his office before the expiry of his term only through a resolution passed in the meeting of Board of Directors after recording the reasons for such removal in writing: Provided further that the form CRA-2 to be filed with the Central Government for intimating appointment of another cost auditor shall enclose the relevant Board Resolution to the effect: Provided also that nothing contained in this sub-rule shall prejudice the right of the cost auditor to resign from such office of the company.”

(iv) in rule 6, after sub-rule (3A), following sub-rule shall be inserted, namely:-  “(3B) The cost statements, including other statements to be annexed to the cost audit report, shall be approved by the Board of Directors before they are signed on behalf of the Board by any of the director authorized by the Board, for submission to the cost auditor to report thereon” 

(v) in rule 6, for sub-rule (5), the following sub-rule shall be substituted, namely:- “Every cost auditor shall forward his duly signed report to the Board of Directors of the company within a period of one hundred and eighty days from the closure of the financial year to which the report relates and the Board of Directors shall consider and examine such report, particularly any reservation or qualification contained therein.”

(vi) in rule 6, for sub-rule (6), the following sub-rule shall be substituted, namely:-

 “Every company covered under these rules shall, within a period of thirty days from the date of receipt of a copy of the cost audit report, furnish the Central Government with such report alongwith full information and explanation on every reservation or qualification contained therein, in form CRA-4 in Extensible Business Reporting Language (XBRL) format in the manner as specified in the Companies (Filing of Documents and Forms in Extensible Business Reporting language) Rules, 2015 alongwith fees specified in the Companies (Registration Offices and Fees) Rules, 2014.”  

[F. No. 1/40/2013-CL-V]  

AMARDEEP SINGH BHATIA,

Jt. Secy., Government of India 

Note.- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 425 (E), dated the 30th June, 2014 and amended vide number G.S.R. 01(E), dated the 31st December, 2014 and vide number G.S.R. 486 (E), Dated the 12th June, 2015.

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Acts Income Tax