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    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
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    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 5, 2026
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.

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      News and Press Release

      Hon’ble Prime Minister’s Letter

      May 30, 2020

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      My fellow Indian,

      This day last year began a golden chapter in the history of Indian democracy. It was after several decades that the people of the country voted back a full term government with a full majority.

      Once again, I bow to the 130 crore people of India and the democratic ethos of our nation.

      During normal times, I would have been in your midst. However, the present circumstances do not permit that. That is why, I seek your blessings through this letter.

      Your affection, goodwill and active cooperation have given new energy, and inspiration. The way you have showcased the collective strength of democracy is a guiding light for the whole world.

      Back in 2014, the people of the country voted for a substantive transformation. In the last five years, the nation saw how the administrative apparatus broke itself free of status quo and from the swamp of corruption as well as misgovernance. True to the spirit of ‘Antyodaya’ the lives of millions have been transformed.

      From 2014 to 2019, India’s stature rose significantly. The dignity of the poor was enhanced. The nation achieved financial inclusion, free gas and electricity connections, total sanitation coverage, and made progress towards ensuring ‘Housing for All.’

      India demonstrated its mettle through the surgical strike and air strike. At the same time, decades old demands such as OROP, One Nation One Tax- GST, better MSP for farmers were fulfilled.

      In 2019, the people of India voted not merely for continuity but also with a dream- of taking India to new heights. A dream of making India a global leader. The decisions taken in the last one year are directed at fulfilling this dream.

      Today, 130 crore people feel involved and integrated in the development trajectory of the nation.The light of ‘Jan Shakti’ and ‘Rashtra Shakti’ has ignited the entire nation. Powered by the Mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas’ India is marching forward in all spheres.

      My fellow Indian,

      In the last one year, some of the decisions were widely discussed and remain etched in public discourse.

      The decision on Article 370 furthered the spirit of national unity and integration. The Ram Mandir judgment, delivered unanimously by the Honourable Supreme Court of India, brought an amicable end to a debate persisting for centuries. The barbaric practice of Triple Talaq has been confined to the dustbin of history. Amendment to the Citizenship Act was an expression of India’s compassion and spirit of inclusiveness.

      But there have been many other decisions that have added momentum to the nation’s development trajectory.

      The creation of the post of the Chief of Defence Staff  was a long pending reform that has improved coordination among the armed forces. At the same time, India has stepped up preparations for Mission Gaganyaan.

      Empowering the poor, farmers, women and youth has remained our priority.

      PM Kisan Samman Nidhi now includes all farmers. In just one year, more than ₹ 72,000 crore has been deposited in the accounts of over 9 crore 50 lakh farmers.

      The Jal Jeevan Mission will ensure supply of potable drinking water through piped connections to over 15 crore rural households.

      A huge campaign of free vaccination is being conducted for better health of our 50 crore livestock.

      For the first time in our country’s history, farmers, farm labourers, small shopkeepers and workers in unorganised sector are assured the provision of regular monthly pension of ₹ 3000 after the age of 60 years.

      Besides the facility of availing bank loans, a separate department has also been created for fishermen. Several other decisions have been taken to strengthen the fisheries sector. This will boost the blue economy.

      Similarly, it has been decided to constitute a Vyapari Kalyan Board for timely resolution of the problems of the traders. Higher quantum of financial assistance is being provided to more than 7 crore women attached to self help groups. Recently the loans without guarantee for self help groups has been doubled to 20 lakh from the earlier 10 lakh.

      Keeping in mind the education of tribal children, we have begun the construction of more than 400 new Ekalavya Model Residential Schools.

      Several people friendly laws have been ushered in during the last year. Our Parliament has broken the decades-old record in terms of productivity. As a result, whether it be the Consumer Protection Act, the amendment to Chit Fund Law or laws to provide more protection to women, children and Divyang, their passage in the Parliament was expedited.

      As a result of the policies and decisions of the government, the rural-urban gap is shrinking. For the first time, the number of rural Indians using internet is 10% more than the number of urban Indians.

      The list of such historic actions and decisions taken in national interest would be too long to detail in this letter. But I must say that every day of this year, my government has worked round the clock with full vigour, taking and implementing these decisions.

      My fellow Indian,

      As we were moving ahead at fast pace in the fulfilment of hopes and aspirations of our countrymen, the Coronavirus global pandemic engulfed our country as well.

      While on one hand are powers with great economic resources and state-of-the-art healthcare systems, on the other hand is our country besieged with problems amidst a vast population and limited resources.

      Many feared that India will become a problem for the world when Corona hits India. But today, through sheer confidence and resilience, you have transformed the way the world looks at us. You have proven that the collective strength and potential of Indians is unparalleled compared even to the powerful and prosperous countries of the world. Be it clapping and lighting a lamp to the honouring of Corona Warriors by India's armed forces, Janta curfew or by faithful adherence to rules during the nationwide lockdown, on every occasion you have shown that Ek Bharat is the guarantee for ShresthaBharat.

      In a crisis of this magnitude, it can certainly not be claimed that no one suffered any inconvenience or discomfort. Our labourers, migrant workers, artisans & craftsmen in small scale industries, hawkers and such fellow countrymen have undergone tremendous suffering.We are working in a united and determined way to alleviate their troubles.

      However, we have to take care to ensure that inconveniences that we are facing do not turn into disasters. Hence, it is very important for every Indian to follow all rules and guidelines. We have displayed patience so far and we should continue to do so. This is one of the important reasons for India being safer and in a better state than many other countries. This is a long battle but we have started traversing on the path of victory, and victory is our collective resolve.

      In the last few days, a super cyclone has wreaked havoc in parts of West Bengal and Odisha. Here too, the resilience of the people of these states is noteworthy. Their courage inspires the people of India.

      Dear friends,

      At such a time, there is also a widespread debate on how the economies of various countries, including India’s, will recover. However, given the way India has surprised the world with its unity and resolve in the fight against Coronavirus, there is a firm belief that we will also set an example in economic revival. In the economic domain, through their strength, 130 crore Indians can not only surprise the world but also inspire it.

      It is the need of the hour that we must become self-reliant. We have to move forward based on our own abilities, in our own way, and there is only one way to do it – Aatmanirbhar Bharat or Self-reliant India.

      The recent ₹ 20 lakh crore package given for Aatmanirbhar Bharat Abhiyan is a major step in this direction.

      This initiative will usher in a new era of opportunities for every Indian, be it our farmers, workers, small entrepreneurs or youth associated with start ups.

      The fragrance of Indian soil along with the sweat, hard work and talent of our workers will create products that will reduce India’s dependence on imports and will move towards self-reliance.

      Dear friends,

      In this journey of the last six years, you have continuously showered me with love and blessings.

      It is the strength of your blessings that has made the nation take historic decisions and progress rapidly in the last one year. However, I am also aware that there is a lot that needs to be done. There are many challenges and problems that our country faces. I am working day and night. There could be deficiencies in me but there is nothing that our country lacks. So, I believe in you, your strength and your abilities even more than I believe in myself.

      The source of strength for my resolve is you, your support, blessings and affection.

      Due to the global pandemic this is certainly a time of crisis but for us Indians this is also a time for a firm resolve.

      We must always remember that the present and future of 130 crore Indians will never be dictated by an adversity.

      We will decide our present and our future.

      We will move ahead on the path of progress and victory will be ours.

      It is said that- कृतम्मेदक्षिणेहस्ते, जयोमेसव्यआहितः

      This means, if we have action and duty on one hand, then success is assured in the other hand.

      With prayers for our country’s success, I bow to you once again.

      My heartiest wishes to you and your family.

      Stay healthy, stay safe!!!

      Stay aware, stay informed!!!

      Your Pradhan Sevak

      Narendra Modi

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