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    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
    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
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    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.
    August 5, 2026
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    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
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    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.

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      A UK consultant Left London To Find A 'Goodspace' In Delhi. Here's Why

      January 10, 2025

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      Liam Fallon, a former consultant from the UK, left the comfort of London to join a disruptor in India: Goodspace. His decision to leave behind a stable career in the UK and venture into the Indian startup ecosystem symbolizes the country's rise as a global startup hub, where talent, opportunity, and innovation intersect. Here’s why Mr. Fallon believes the future lies in India.

      No time like the present In 2014, Liam Fallon was being rushed to Stanford Medical Centre with meningitis. That is what paralysed his father, and Mr. Fallon feared the worst. He was staying in Palo Alto, and had visited the home of Steve Jobs, the Headquarter of Oracle, and was working for a biotech company. The owner of Abaxis had made a big impression on him, and lying on the hospital bed, he realised that to build something new, you have to be with the right people, at the right time and place.

      Where is the right time, right place, now? Kalaari Capital, a Venture Capital fund talks about India Alpha. Stellaris Venture Partners have said ‘no other country in the world today has the momentum India has’. $10-15T of new GDP will be created in the next two decades because of a young population, unique public digital infrastructure & vibrant capital markets. Mr. Fallon made a decision to be part of that growth story.

      Two years later, Liam Fallon, has left the comfort of consulting, left his family in the UK, and is working at a technology company that uses AI to help companies find the best people for their jobs.

      From London To Delhi: A Life-Changing Decision ‘I left the UK and consulting because India is going to leapfrog legacy tech and change everyone’s world’ explains Mr. Fallon. This is what happened in China, with companies like ByteDance, and Huawei, and now it is India’s turn. India is the world’s 4th largest capital market. It's the 3rd largest VC ecosystem. For Mr. Fallon, it’s worth swapping the fish and chips for chole bhature.

      Not just about the money There is a race around the world for who can invent Artificial General Intelligence, and who can put AI to work. Time Berners Lee invented the internet, and it changed the way we all work. Right now, AI is changing the way we work, but who is making that happen? Liam Fallon says that after meeting Vinay Pasricha and Saksham Sandhu, Goodspace is leading the way. They are on the cutting edge of making AI work in the workplace. Goodspace is taking the newest models, and solving all of the problems of hiring and recruitment.

      One day Mr. Fallon walked into the offices as a consultant, and 6 months later, he joined the team. He says he could see they had the technology and were close to vision of using AI agents to help companies find the right people to build a better future. No other recruiting platform ensures feedback after every single interview. No other platform gives a comprehensive report to an hiring manager on every single candidate. Can any other platform do this in just 60 minutes? It is only possible with Goodspace’s AI technology. This was improving the lives of professionals in India. Mr. Fallon has seen professional who used Goodspace move into better jobs, being treated with more respect. He felt that working with Goodspace was the best way to unlock India’s talent potential, and shape the future of AI.

      But where exactly are the opportunities? Goodspace and recruitment using AI is what Mr. Fallon is working on full time now, but he says there are many other opportunities that will make everyone’s lives in India better. Kanika Agarrwal and the VC firm IndiaQuotient recently shared a list of these opportunities that need startups like Goodspace, to work on.

      The first is big ticket loans, which are untouched by tech. In the UK, buying a house takes around three to six months, but much of the process can be automated. India can use the India stack to leapfrog the legacy systems.

      Secondly, robotics and AI has become more democratized. IndiaQuotient asks, 'Can the small factory also automate now?’ Mr. Fallon describes walking through chair factories in Faridabad with melting plastic sticking to his indian-made italian shoes. A new plastic recycling machine takes cement bags in one end, and produces clean plastic granules out of the other end. One chair gets made every 50 seconds. IndiaQuotient makes the argument that purchasing power and lowering price points are bringing automation into the factory. Mr. Fallon says that seeing this level of automation made him realise where India is heading. 'Brilliant people with a vision and work ethic like Sushil Aggarwal (AVRO) are making it happen', he says, smiling.

      Third, Indians are having fewer kids and spending more on them, as IndiaQuotient points out. Liam Fallon said that meeting Chitranshu Mahant of Primebook, was eye-opening, and a great example of parents investing in their children’s education and a startup facilitating this. Primebook has sold more than 40,000 made-in-india education-first laptops.

      India is the largest consumer of Facebook, Instagram, SnapChat, WhatsApp and Youtube. ‘India is a net importer of software. Where is homegrown Gmail, MS Office and Salesforce?’ asks Kanika Agarrwal. At Goodspace, Liam Fallon says he joined Goodspace precisely because it is the made in India next-gen platform to take on traditional hiring platforms. He thinks that if talent can find its calling in the right role, India will grow.

      When will services 2.0 come? India is an IT Services nation. How does India reimagine it in a post GPT era?’. Kanika Agarrwal has asked. Mr. Fallon says this is what the team has built at Goodspace. India has a large job market with legacy platforms such as Naukri still dominating, but it's rife with spam and scams.

      Just because there is opportunity, it doesn’t mean it will be easy.

      Liam Fallon says that only 40% of India’s telecom towers are fiberised, which is way below the 85-90% fiberisation levels in China. On the one hand this shows you the barrier for high-bandwidth applications for market penetration, but on the other hand it indicates the massive potential upside. Another challenge is what Bala Srinivasa, MD of Arkam Ventures explains. ‘When building for Middle India, trust is the real moat. If you aim to reach 50-100 million consumers in Middle India, your ability to understand what drives trust is more important’ than improvements, because '...in most cases [it is] the first time they are choosing a digital first alternative to replace habits built over decades'. This is also a challenge for Goodspace.

      How can Goodspace unlock India’s potential? When asked why he came to India to work on Goodspace, Mr. Fallon quotes Ankur Nagpal from Vibe.VC who says 'if you’re thinking about investing in India, one deep value argument is that talent and opportunity and not equally distributed. Talent in America and the UK is much more likely to be discovered. The population is so vast here that a lot of talent goes untapped.' Mr. Fallon is head of partnerships and growth at Goodspace because he believes that it is the only platform for the best talent to find the best jobs. This is key for India’s growth story, he says.

      Why India? When asked why India, Mr. Fallon’s response is simple: "The opportunities for startups here are unmatched anywhere in the world." Having worked across five countries, including the UK, Germany, and the US, he has never witnessed the kind of opportunity and hustle he has seen in India. “The energy here is different. Delhi NCR, in particular, has this unstoppable energy — it makes me think of what New York City must have been like 30 years ago,” he adds. Mr. Fallon is confident that India will lead the next wave of global innovation, and he’s eager to contribute to that transformation.

      In the end, Mr. Fallon’s journey from London to Noida is not just a career change, but a leap toward a dynamic future. His move to India symbolizes the country's rise as a global startup hub, where talent, opportunity, and innovation intersect. For Mr. Fallon, Goodspace is the perfect platform to make a lasting impact — not only in the recruitment sector but in helping to shape India’s place in the global startup ecosystem.

      (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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