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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
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
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    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
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    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
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    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
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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.
August 6, 2026
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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.
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.

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QCI and Odisha Government launch Odisha Gunvatta Sankalp in Bhubaneswar

June 26, 2023

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The Government of Odisha & the Quality Council of India, in collaboration with industry associations – ASSOCHAM, FICCI, EEPC, OASME, PHDCCI, CIPET, FHRAI - launched the Odisha Gunvatta Sankalp (Odisha Quality Mission) at Bhubaneswar today. The Sankalp was inaugurated by the Chief Secretary of Odisha Shri Pradeep Kumar Jena in the august presence of the Development Commissioner Smt. Anu Garg. Several policymakers, industry leaders, practitioners and members of academia, discussed promoting and prioritising quality across various sectors in the state of Odisha to pave an ecosystem of quality that underlines the idea of a progressive and Sashakta Odisha.

“Odisha, with its abundant natural resources, talented and hardworking workforce and an enabling administration is poised to be one of the States leading the mantle in India’s growth story. It is making great strides in the sports sector. Today, we are here to create a connection with the grassroots and permeate the idea of Quality in the DNA of each and every citizen in every part of India”, remarked Jaxay Shah, Chairperson of QCI

Hon’ble Chief Minister, Naveen Patnaik graced the occasion through a recorded message that emphasised the role of quality as a key aspect in every sphere of human activity. “Odisha’s dynamic 5T initiative has made significant inroads in bringing about quality across domains such as public service delivery, heritage tourism, healthcare, education and skilling, drinking water and so on. We must be able to leverage the role played by quality as a metric that can be measured, tracked and scaled, and work together to create a new and empowered Odisha”, highlighted the Hon’ble CM.

Shri Pradeep Kumar Jena resonated with the sentiment about quality and mentioned that quality is a continuous process; and not an end. “Within just 98 days, the Kalinga stadium was renovated for the Athletic Championship to be held in the state. This year, we built the largest hockey stadium in Rourkela in 15 months enabling two consecutive Hockey World Cups to be organized in the state. This was a quality project executed within a short span of time, with quality being engineered into the project from the beginning. You will witness even in our rath yatra, how medical services are provided to the 1.5 million participants. In Odisha, we spend the highest percentage of our budget on infrastructure, therefore, we have the resources and the willingness to ensure that quality forms a core component and becomes part of the value system of Odisha”, remarked the Chief Secretary.

Smt. Anu Garg, reiterating the pace of change in Odisha, stated that the government is taking up around 40-50 irrigation projects instead of 5-10 as it did earlier. “While there are 3 international flights from Bhubaneswar, there are also flights under the Mukhyamantri Vayu Swasthya Seva air health services wherein special doctors reach remote regions of Odisha. When public feedback was sought under Mo Sarkar across departments, we have found a positive response. We already conduct monthly programs for quality assurance and discuss common topics related to quality. However, there is much to do and QCI can assist us in finding gaps and going the extra mile that Odisha requires to achieve transformational change and ensure quality of life for its people”, asserted the Development Commissioner.

“The Odisha government has been extremely supportive of the Gunvatta Sankalp initiative. Our discussions with secretaries across MSME, Electronics and IT, and skilling have yielded focused interventions in the domains of ZED, LEAN and ONDC. QCI will be working closely with the government to make sure that these interventions get materialized at the earliest. We will be discussing, deliberating and collaborating with the relevant partners to create an overall impact on Odisha's Economy”, stressed Dr. Ravi P. Singh, Secretary General QCI.

Culminating the Sankalp, His Excellency Prof. Ganeshi Lal, Governor of Odisha graced the occasion with his presence and addressed the participants. He reinforced the need for adopting quality practices across domains and for creating an ecosystem for quality in Odisha thereby enabling the achievement of the vision of a new and empowered Odisha. “We are the siblings of the Adi Shakti; we bow our heads to the smallest particle of earth. QCI means Quotient of Collectivism and Individualism. As far as quality is concerned, we will be a global product but more than quality of India, it has to be the purity of India.”, emphasized the Hon’ble Governor.

The Quality Council of India, established in 1997 by the Government of India and the Indian industry, is the apex organisation in India responsible for establishing and operating the third-party national accreditation system, improving quality across sectors and advising the government and other stakeholders on all matters concerning quality. It has established constituent Boards that offer accreditation in respective areas - such as NABL for labs and NABH for hospitals, NABCB for certification and inspection bodies, and NABET for education and training. Its National Board for Quality Promotion is responsible for running the national quality campaign. The Chairperson of QCI, nominated by the Prime Minister of India, is Shri Jaxay Shah, CMD of Savvy Group of Companies.

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