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    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
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    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
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    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    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
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    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    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.
    August 6, 2026
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    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.
    August 6, 2026
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    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.
    August 6, 2026
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    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.
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    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.
    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.
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    August 5, 2026
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    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
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    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
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    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.

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      Customs, DGFT & SEZ

      Statement by Shri Piyush Goyal at the WTO 12th Ministerial Conference during the Thematic Session on Agriculture

      June 15, 2022

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      Following is the text of the Statement made by Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal at the 12th Ministerial Conference of the WTO in Geneva during the Thematic Session on Agriculture today:

      “We are discussing one of the most critical issues under negotiations which has a direct impact on the lives of millions of people across the globe.

      Agriculture is not just a source of livelihood for most of the farmers and farm workers in developing countries, it is also important for their food security, their nutrition and in a sense for developing nations and the people at large.

      Many countries have been severely impacted due to the recent food crisis, both during COVID 19 and the current geopolitical situation. My friends from Egypt and Sri Lanka spoke about this yesterday, and we need to see if the draft declarations and decisions under consideration would help in improving food availability in their countries.

      In fact, these two Members have not agreed on the draft Food Security Declaration, but they have called for an immediate Permanent solution to the Public Stockholding issue.

      We are in a situation, where the temporary declarations are not going to help the countries rather the Permanent Solution to Public Stock Holding, pending for more than 9 years, is not yet being taken up for closure.

      India has had an experience of transiting from a food deficient nation to a largely self-sufficient food nation. Our state support in the form of subsidies and other government interventions played a very important role to achieve this sufficiency, therefore we are fighting on behalf of all the developing countries including the LDCs collectively based on our own journey, our own experience. And look at the story so far, right from the Uruguay round where after 8 years of negotiations between 1985-86 and 1994 when the Marrakesh agreement was decided led to the establishment of WTO, agriculture always got a raw deal, imbalanced outcomes and those who were distorting markets by granting huge subsidies managed to secure their subsidies, which were prevalent at that point of time and deprived the other nations, the developing nations from their ability to grow and take prosperity to their people.

      What we are discussing are the rules of an agreement largely suited to the developed countries, which work for their socio-economic situation already give higher entitlement for the developed world and the calculations under which the developed world is questioned are flawed based on certain situations prevailing 35 years ago and without any relevance to today's situation in either terms of growth in prices, inflation, changing dynamics with absolutely no system of calibrating it over the years, we landed up freezing that at the 86 levels and today we are suffering the consequences of that.

      In my earlier intervention today, I alluded to this only to warn our other friends in the room that the same is sought to be done in Fisheries again. The ministerial conference of 11 December 2013 decided, and I repeat ‘decided’ that the members had agreed to put in place an interim mechanism to negotiate on an agreement for a permanent solution for adoption by the 11th ministerial conference. The process had been fixed. We all agreed on this, and in lieu of agreement on trade facilitation with the developed world was very keen adopt. We compromised, agreed on their trade facilitation agreement and settled for a permanent solution for public stockholding.

      In fact, para 8 says and I quote, “Members agreed to establish a work program to be undertaken in the committee on agriculture to pursue this issue with the aim of making recommendations for a permanent solution”. Para 9 says, “Members commit to the work program with the aim of concluding it no later than the 11th Ministerial Conference”. And Para 10 says “The general council shall report to the 10th ministerial conference, the progress made on the work program”. I am reminding you of this because what we are suggested is that we once again start the discussions on this issue, which was reiterated in 28th November 2014 document of the General Council and which states that public stockholding for food security purposes for the developing countries will be final. In fact, even in 2015 the ministerial conference in the 10th session took note of the progress and decided that they reaffirm the General council decision of 2014 and agreed to engage constructively to make all concerted efforts to agree and adopt the decision.

      I am saying this out of agony because we are already in the 12th MC. It’s a delayed MC, it is almost time for the 13th MC technically now and we are yet to finalise the permanent solution. I think it is possible to do it. We have very well established and proven mechanisms available and documents are on the table which can be adopted and finalised. So that we can bring closure on this very important subject.

      WTO is an organisation for trade, but one should remember that before trade, there comes hunger and one cannot tread the path of trade on an empty stomach.

      Leading up to the MC 12, more than 80 countries have come together for taking the issue of Public Stockholding to a logical conclusion and directly addressing the food insecurity concerns.

      It is ironical that the Agreement on Agriculture (AoA) provides considerable flexibility to the developed members to provide huge subsidies in the form of Aggregate Measure of Support (AMS) and further, to concentrate these subsidies on a few products, without limit, but the same flexibilities are not available to majority of the developing countries including LDCs.

      The fear mongering in the name of trade distortion by the latter’s de minimis support entitlements is pointless.

      There are vast differences in the actual per farmer domestic support being provided by different countries, as per the information notified to the WTO. This difference in case of some developed countries vis-a-vis the developing countries is more than 200 times. So the developed countries are giving more than 200 times the support that most developing countries are able to give.

      Despite this, some Members have been pushing to deprive the low income and resource poor farmers of their already small share in state support.

      The special and differential treatment accorded to developing countries remains crucial for us and hence bringing it into the ambit of negotiations is just not acceptable.

      We feel that the draft Ministerial Decisions on Agriculture is expansive and goes beyond the Doha Round mandate and does not acknowledge the progress achieved so far.

      Finally, India has always been proactive in extending food aid to vulnerable countries. On the proposal for providing exemption to the World Food Programme from export restrictions, while we support such exemptions, we believe, we must also provide for G2G transactions so that we can truly ensure food security - both global and domestic, from a broader perspective, specially considering the fact that World Food Programme has its own limitations of size, scale & funding.

      I would urge the membership of the WTO to seriously reflect on this programme of permanent solution to public stockholding being finalised at the MC 12, sending a message to the world that we do care, we care for the poor, we care for the vulnerable, we care for food security, we care for a far more balanced & equitable future for the rest of the world.”

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