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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
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    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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      The Bicester Collection Brings the Unlock Her Future™ Prize 2025 to South Asia to Support the Next Wave of Female Social Entrepreneurs

      January 14, 2025

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      For its third edition, the annual entrepreneurship programme aims to drive change by identifying and supporting women social impact entrepreneurs from South Asia.

      LONDON, Jan. 14, 2025 /PRNewswire/ -- The Unlock Her Future Prize, an annual start-up competition for female social impact entrepreneurs powered by The Bicester Collection, is making its debut in South Asia in 2025, following its success in MENA in 2023 and LATAM in 2024.

      Each year the global initiative travels to a different part of the world to identify and support women to launch and scale system-changing start-ups. The 2025 edition of this prestigious prize welcomes applications from women from Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka, aged at least 18, with an inspiring start-up idea that will generate a positive and sustainable impact on society, as defined by the United Nations Sustainable Development Goals.

      Applicants' start-ups can be either at the idea/validation stage, where they have a big idea for a new product or service with a tested prototype that is being validated, or at the launch/growth stage, for start-ups operating under three years and with less than US$1 million in revenue.

      The winners will each receive a business grant of up to US$100,000 to launch and scale their start-up, an executive education programme with our academic partner, Oxford University's Saïd Business School, bespoke leadership coaching to achieve their personal and professional goals, access to expert mentors and exposure through The Bicester Collection's global network.

      The Unlock Her Future Prize launched in 2022 following staggering research that showed if men and women were equally represented in entrepreneurship, global GDP could rise from 3% to 6%, equivalent to up to $5 trillion (The Boston Consulting Group). Yet, according to Harvard Business School, fewer than 3% of women-led businesses receive venture capital funding.

      Now in its third year, as part of The Bicester Collection's DO GOOD philanthropic programme, the Unlock Her Future Prize continues to build on its positive global impact and further advance gender equality across the world, championing tomorrow's changemakers by supporting their business ventures and targeting the funding gap.

      With grants of approximately US$600,000 committed and eight start-ups already launched and making a positive impact in their communities and beyond, the winners of the Unlock Her Future Prize 2025 South Asia Edition will join a prestigious alumnae network of social impact visionaries. They include Valentina Agudelo, Colombia(Salva Health), Thamires Pontes, Brasil (Phycolabs), Leydi Cruz, Bolivia (Agrimet), and Annie Rosas, Mexico (BlueKali) and Young Changemaker Kristal del Valle, Guatemala, from the 2024 LATAM Edition, and Noor Jaber, Lebanon (NAWAT Health), Sara Lalla, Iraq/ UAE (EcoCentric), Nubayr Zein Egypt/ UAE (Leaukeather), and Fella Bouti, Algeria (EcoTashira) from the inaugural 2023 MENA Edition.

      "At The Bicester Collection, we're dedicated to creating destinations where experiential retail meets purpose. With flagship locations across Europe, China and the US, we unite our guests and partners to drive meaningful change and make the lives of others better. Unlocking the potential of women, both locally and globally, is central to our mission. Female entrepreneurs need access to capital, education and influential networks. Through our philanthropic programme, DO GOOD, we provide the tools to help them succeed. The Unlock Her Future Prize empowers women to launch businesses, transform communities and create sustainable growth that leaves a lasting legacy for generations to come." Chantal Khoueiry, Chief Culture Officer at The Bicester Collection "Ashoka is committed to build a world where everyone has the power to give, contribute to change and be a changemaker ! We are also witnessing a historic moment of advancing leadership roles of women and girls in our society. We are very excited about this timely and much needed partnership with The Bicester Collection to help women entrepreneurs to create an 'Everyone A Changemaker' society and be role models for all aspiring female changemakers." Shruti Nair, Leader, Ashoka Innovators for the Public, South Asia "We are delighted to be partnering with The Bicester Collection for this initiative and to support the development of female entrepreneurs who want to make a difference. I'm passionate about giving women an equal chance when it comes to founding their start-up and this competition is an important milestone in a long-term mission by so many of us across organisations to create a level playing field. I look forward to welcoming the finalists of the Unlock Her Future Prize 2025 South Asia Edition to the Oxford entrepreneurial ecosystem and taking them on the next stage of their journey." Kathy Harvey, Associate Dean, Oxford University's Saïd Business School Finalists for the Unlock Her Future Prize 2025 South Asia Edition, presented in partnership with The Bicester Collection, Oxford University's Saïd Business School and Ashoka South Asia – the leading global voice on social impact, will be chosen by a Selection Committee of international business leaders and social impact experts. They will then be invited to a pitch day in the region in October, where they will present their start-up to an assembly of judges comprising high-profile women from South Asia.

      The winners will be announced in November 2025 during a ceremony in the UK with Bicester Village, forming part of The Bicester Collection's thirtieth anniversary celebrations.

      Applications for the Unlock Her Future Prize 2025 South Asia Edition are now open until 10 March 2025. For more information and to apply, visit: https://www.thebicestercollection.com/en/do-good/unlock-her-future-2025/ @TheBicesterCollection #DOGOOD #UnlockHerFuture About The Bicester Collection Created in 1995, The Bicester Collection has reimagined the boundaries around the worlds of luxury retail, hospitality, live music and sports entertainment, curating extraordinary experiences for the world's most discerning guests. Located in Europe, China and the US, The Bicester Collection's 12 Villages are world-renowned as iconic, open-air shopping destinations. Each offers the world's best brands at incredible value, as well as celebrated restaurants and peerless services. For more than a quarter of a century since its founding, The Bicester Collection Villages' mission has been to make the lives of others better – from the communities it serves to its guests, brand partners and its people. Through its DO GOOD programme, The Bicester Collection aims to drive sustainable social change in support of the United Nations' Sustainable Development Goals, with a focus on unlocking futures for women and children, wherever they're born.

      The Bicester Collection brings together extraordinary live music and sports experiences at the first third-generation UBS Arena serving the New York metro area (home to the New York Islanders ice hockey team), a pioneering concert venue featuring the Isles Lab Team concept store. The Collection's award-winning hotel destinations, Mission Pacific Beach Resort and The Seabird Ocean Resort & Spa (with its Michelin-starred restaurant, Valle; celebrated Sunny's Spa & Beauty Lounge; and locally curated boutique The Ozone), are vibrant destinations in Southern California's hidden gem, Oceanside.

      The Bicester Collection exists to be experienced in the real world. To be actual, not virtual. To be lived. Discover more at TheBicesterCollection.com About Oxford University's Saïd Business School About Saïd Business School: Saïd Business School at the University of Oxford is a vibrant and innovative business school, embedded within a 900-year-old world leading university. We create programmes and ideas that have global impact and reach. We educate leaders, changemakers and innovators across every industry and sector. Our groundbreaking research and exceptional teaching transforms individuals, who transform businesses, which transforms the world. We create impact from within and are proud to have achieved a 51% majority female intake for our full-time MBA class in 2024. www.sbs.ox.ac.uk About Ashoka South Asia Ashoka has worked for 40 years as a leading global organisation in entrepreneurship and social innovation. In Mexico, Central America and the Caribbean it builds and cultivates a community of more than 800 active Fellows, Young Changemakers, Changemaker Institutions and beyond, who see that the world now requires everyone to be a changemaker – a person that sees themselves as capable of creating large-scale, positive change.

      Together, amidst the exponential growth of a new inequality in changemaking at a worldwide scale, we mobilise (and accelerate) a movement to build an "Everyone a Changemaker" world where all people have the right and ability to co-lead solutions that transform their societies for the better. Find out more at https://www.ashoka.org Video: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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