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    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
    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
    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
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    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
    Show AI Summary
    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
    Show AI Summary
    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
    Show AI Summary
    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
    Show AI Summary
    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
    Show AI Summary
    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
    Show AI Summary
    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.

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      PM Modi has turned the spirit of Innovation and Entrepreneurship into a festival in India, say Young and Budding Entrepreneurs

      January 17, 2025

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      More than 50 startups make a pitch to Shark Tank Judge and Entrepreneur, Anupam Mittal to mark the 'National Startup Day 2025' celebration at Chandigarh University CHANDIGARH, India, Jan. 17, 2025 /PRNewswire/ -- On the occasion of National Startup Day, Chandigarh University hosted SANDBOX 2025, a flagship event to celebrate the entrepreneurial ecosystem of North India and showcase the groundbreaking innovations, foster meaningful collaborations among startups, investors, industry leaders as well as aspiring entrepreneurs, with Shark Tank India judge and Shaadi.com Founder, Anupam Mittal, as Chief Guest to mentor budding entrepreneurs.

      Hosted by Chandigarh University Technology Business Incubator (CU-TBI), with the theme, 'Empowering Visionaries, Redefining Tomorrow,' SANDBOX 2025 received an overwhelming response with over 1000 registrations by start-ups for the event. Of the 250 viable startups shortlisted from the total registrations from 45 cities all across the country, including cities like Kolkata, Delhi, Mumbai, Bengaluru, Hyderabad, 50 selected startups, including 17 startups based on Artificial Intelligence, were exhibited during the event. Out of these 50 startups covering a range of fields including business, content, health care and agriculture, the top 10 startups including Capeels, Innow8, Akarshana, Carewell 360, Ashya Pro 6, Medoc, Weaving Dreams, DCS Pro, Clienthals and Resolex, received the opportunity to pitch before Shark Tank India judge and Shaadi.com Founder, Anupam Mittal. On this occasion, young entrepreneurs said that PM Modi has turned spirit of innovation and entrepreneurship into a festival in India by declaring January 16 as National Startup Day to honour the creativity, resilience and determination of country's innovators and entrepreneurs.

      Prominent among those who attended, the event included Satnam Singh Sandhu, Member of Parliament (Rajya Sabha) and Chandigarh University Chancellor, Sanjiv Sethi, MD, Gilard Electronics Pvt, Ayush Bagga, T-HUB Head, Government Relations, Ankit Saxena, IIT Delhi, Director, DS Centre of Entrepreneurship, Narender Verma, CII Executive Manager, Founder and Chief AI Officer, VK Sharma, CDAC Director, Shailendra Tyagi, STPI Director at Software Technology Parks of India (STPI), Ministry of Electronics & IT, Government of India, Munish Jauhar, Nasscom, Founder and CEO of GrayCell Technologies.

      On the occasion, Shark Tank India judge and Shaadi.com Founder, Anupam Mittal, said that in the past decade, there is a manifold increase in the spirit of innovation and entrepreneurship in India. "The biggest reason for this is our government which has created many new opportunities to encourage our youth. An entrepreneur does not wait for an opportunity; he rather creates an opportunity on his own. I am sure that the in-born entrepreneurship skills in Indians will make them the top entrepreneurs of the world in upcoming 10 years," he added.

      "One of the interesting aspects of our culture and civilization is that we have always been entrepreneurs. We have created many things in our country and given them to the world. So the entrepreneurship is there in us Indians by birth. We just have to think about it, understand it and recognize it. This is the reason why many of our entrepreneurs are the best at the world level. I just want to tell the youth that you should not just think about becoming an entrepreneur, you should rather aim to become the best entrepreneur in the world," Mittal added.

      Member of Parliament and Chancellor, Chandigarh University, Satnam Singh Sandhu, said, "India's startups have witnessed a golden era in past 10 years under PM Modi's leadership. Startup supportive policies have made India a nation of technology and ideas which is evident from the fact that today, India is the world's 3rd largest startup ecosystem with over 1.57 lakh startups and 110 unicorns. Under PM Modi's leadership, the number of startups in India surged to over 1.57 lakh from 350 in 2014, creating over 16 lakh jobs across various sectors. These startups are playing a crucial role in making India self-reliant under PM Modi's leadership. India's youth today are becoming job-providers instead of job-seekers. This way, startups are playing a pivotal role in India's journey towards becoming a Viksit Bharat by 2047 with right decisions taken at the right time, which have helped startup networks go beyond metropolitan boundaries to more than 600 districts across the nation. India's commitment to nurturing startups is reflected in the allocation of over Rs. 10,000 crore through the Startup India initiative over the past decade. With 67,000 startups having at least one-woman director, India is cultivating a dynamic and inclusive entrepreneurial ecosystem in which women lead more than 45 percent of startups to place India in the global arena." "As a Research-Intensive University, Chandigarh University remains focused on research and innovation by fostering an entrepreneurial ecosystem which encourages its students to innovate new technologies and unlock boundless opportunities for growth. Ever since the inception of Chandigarh University, CU students have created over 150 Start-Ups. Chandigarh University's Technology Business Incubator (CU-TBI) is mobilizing Rs. 5 crore to catalyze growth in the startup ecosystem at CU. This initiative brings together key stakeholders from Chandigarh University and venture capital partners to empower innovative startups and foster entrepreneurship," Sandhu added.

      Participating in a panel discussion on startups, Sanjeev Sethi, MD, Gillard Electronics Pvt. Ltd., said, "Times have changed now, few years back, the concept was that those who got a degree would get employment and those who did not would become entrepreneurs. Soon society and nation realized that entrepreneurship is very important for the country and nation. And an uneducated entrepreneur can go only up to a level, so there is a need for people with degrees to also become entrepreneurs. Earlier there was no focus on entrepreneurship. The present time is a good time for future entrepreneurs, as things have become easier now. The country has realized the importance of entrepreneurship and startups. All it takes to succeed is an idea, then a plan and then implementation to make it successful. The idea (startup) should be kept in a larger perspective." Aayush Bagga, Head, Government Relations, T-Hub, said, "We as an incubator have to understand what our role is, what our objective is in supporting the right startups and whether it is qualitative or quantitative that we want to achieve. To simplify, there are certain parameters, certain metrics that we have formulated to support the right startups. First of all, we definitely need to understand what the difference between a traditional business and a startup is. Every startup and every founder should always have their own advisory board. The founder can always have their own personal advisory board. From there, we can get the right inputs. So in this way, inspiring mentors are very important because entrepreneurship is a journey. As far as I have experienced entrepreneurship, it all happens gradually." Munish Jauhar, Founder and CEO of GrayCell Technologies, and one of India's top 100 Angel Investors (Fortune India), said, "In the past, Indians were always looked up on as coders, basically people you would outsource work to, you would give a set of instructions that they would prove. But now, the things are changing very, very rapidly. We see numerous startups coming out of this region as well. I don't see anything that is going to withhold India back now. We have a plethora of very high quality education, not only at graduate, under graduate, or postgraduate level. So we cover it all. We have an angel investment group in Punjab. We have a very strong otherwise entrepreneurial ecosystem." Ankit Saxena, Director, DS Centre Of Entrepreneurship, FITT, IIT Delhi, said, "The way technology has disrupted the entire ecosystem, we are seeing success stories coming at very early years of any individual now. We have seen that when as an entrepreneur comes up with an idea, which is driven by technology, they not only create jobs within their venture, but they also end up creating a platform which creates more entrepreneurs." "If you want to try out entrepreneurship, you can do some internships with some existing startups to understand how a startup works. Because entrepreneurship is also a very tricky subject. You have to create something new, something very disruptive to be very successful, if you want to create a scalable business," he added.

      About Chandigarh University Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

      Website address: https://www.cuchd.in/ Photo: Embedded Media (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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