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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
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
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    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    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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      JSW MG Motor Accelerates Into Wider NEV Portfolio: Unveils MG Cyberster and MG M9 Under its Luxury Brand Channel, MG Select

      January 21, 2025

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      New Delhi, Delhi, India – Business Wire India • Portfolio of 5 EVs across different segments with the Windsor, Comet, ZS, Cyberster and M9 • MG Cyberster, India’s First all-electric Roadster, combines iconic roadster heritage with modern brand design language • Power meets sustainability with the MG M9, India’s first electric three row presidential limousine.

      • Debut of MG Select, the new luxury brand channel to make luxury cars more accessible for discerning car buyers in India • Pre-reservations for MG Cyberster and M9 commence today JSW MG Motor India has ushered in a new age of ‘accessible luxury’ with two new models - MG Cyberster, India’s First all-electric Roadster and the MG M9, India’s first electric three-row presidential limousine, slated to be launched this year. Unveiled at the Bharat Mobility Global Expo 2025 today and debuting under its new luxury brand channel, MG Select, these new models underscore the company’s vision to usher in a new era of mobility in India – one that is intelligent, sustainable, and customer-focused. Pre-reservations for the MG Cyberster and M9 commence today, and customers can log on to www.mgselect.co.in and pre-book these two cars. With these two new models, the brand will soon have the widest EV portfolio with five different models across different segments, including the MG Windsor - the number one selling EV since its launch, the MG Comet, and the MG ZS.

      The MG Cyberster, India’s First all-electric Roadster, reimagines the classic MG B Roadster with best-in-class technology and futuristic design, blending classic elegance with exhilarating performance. A completely new roadster designed for a new generation of sportscar drivers, the MG Cyberster opens a bold and compelling new chapter for the brand. The MG M9, India’s first electric three-row presidential limousine, is conceptualized to provide ultimate comfort and luxury on wheels. Redefining a luxury EV with spacious interiors, superior craftsmanship, and long range, the MG M9’s charisma will appeal to luxury buyers in India.

      Talking about the brand’s continued success in EVs, Parth Jindal, Director, JSW MG Motor India, “Unveiling the two new models at the Bharat Mobility Global Expo, Parth Jindal, Director, JSW MG Motor India, said “JSW MG Motor India is redefining the very concept of accessible luxury in the country by unveiling two luxurious pure EVs that combines legacy and modernity. Having brought the much-needed disruption in the EV market with Windsor EV, we are now set to give a new meaning to the modern roadster standard with MG Cyberster, with its iconic design and value-added features. Along with MG Cyberster, the introduction of the MG M9 presidential limousine is our attempt to provide ultimate comfort and luxury on wheels. With these unveils, we are offering a unique blend of style and features for the discerning buyers, reflecting on our firm commitment to bring world-class luxury and technologically-advanced, sustainable mobility solutions in India.” Speaking at the expo, Rajeev Chaba, CEO Emeritus, JSW MG Motor India, "At JSW MG Motor India, innovation is a core pillar of our brand. We are committed to consistently disrupt the market for our customers, particularly with a sharp focus on NEVs. Our entry into the accessible luxury segment through MG Select is another testament to our persistent efforts to bring the best offering to our consumers. It is this commitment that sets us apart.

      With MG Select and our premium product portfolio, we are leading the transition towards an accessible luxury market. The MG Cyberster and M9 will further enhance our growth story in India and enable us to establish the accessible luxury space in India. We remain optimistic about our vision for mobility in India, which will certainly resonate with Indian car buyers.” The MG Windsor has been creating waves since its launch in September last year. After making history as the first passenger EV in India to garner 15,176 bookings within 24 hours of its booking announcement, it also achieved the production milestone of 10,000 in just three months. This achievement underscores the growing enthusiasm for MG’s offerings among Indian buyers and reflects the increasing demand for four-wheeler EVs in the market, signaling a clear shift towards electric mobility.

      JSW MG Motor India, known for its commitment to excellence and innovation, is redefining accessible luxury with ‘MG Select’, its new luxury brand channel. Designed for discerning customers, MG Select emphasizes purposeful, new-age experiences. With exclusive experience centers planned across 12 cities, featuring unique, minimalistic showrooms, this new-age luxury brand channel blends innovation, sustainability, and curated offerings to set new benchmarks in modern luxury. Rooted in the rich legacy of Morris Garages, MG Select will offer slick products and best-in-class NEV technology, seamlessly combining environmentally conscious mobility with timeless design. MG Select will deliver exceptional style, performance, and sophistication, ushering in a purpose-driven, new era of luxury in India.

      The MG pavilion showcased an extensive line-up of futuristic products across different powertrains, global portfolio showstoppers and segment-first models from its popular Indian portfolio. Themed Drive.Future, the pavilion helped visitors envision the future of mobility through a series of innovative products, advanced technology, new-age mobility solutions and elevated customer experience.

      Details of products unveiled at the Bharat Mobility Global Expo 2025 MG Cyberster: India’s first all-electric Roadster, the MG Cyberster featuring India’s first-ever electric scissor doors, operating from single-touch button across the interior console, key fob and each door in a rapid 5-second open and shut time. Engineered to ensure safety, the built-in Dual Radar sensors on each door provide protection sideways and upwards while opening. It is also clubbed with an anti-pinch bounce back feature ensuring safety for the consumer while closing the door. With lightning-fast acceleration (0 to 100 kmph in 3.2 seconds) and a sleek silhouette, the MG Cyberster’s iconic design pays homage to MG’s storied heritage while redefining the modern roadster standard. Featuring an aerodynamic Kammback design, the electric vehicle comes with the industry’s slimmest 77 kWh battery pack, with a thickness of just 110 mm. MG Cyberster is a powerhouse of elegance, sportiness, and innovation.

      MG M9: The MG M9, India’s first electric three-row presidential limousine is conceptualised to provide ultimate comfort and luxury on wheels. The limousine is built with a charismatic blend of signature styles, from its touchscreen armrest on reclining ottoman seats in the second row to the trapezoidal front grille on the exterior. With 8 massage modes in the ottoman seats and the 3-zone climate control, it ensures an elevated sense of comfort, all of which can be controlled from the touchscreen panel on the armrest. This majestic limousine is for the discerning few who long to travel with the best amenities and can comfortably seat seven passengers across three rows. The quite cabin atmosphere is comparable to a theatre with stunning audio pleasure. High on performance, MG M9 offers an immersive panoramic sunroof and front-opening skylight. With electrically powered technology, the car sets a new standard of luxury and leisure.

      About JSW MG Motor India SAIC Motor, a global Fortune 500 company with a presence in over 100 countries and JSW Group (India's leading conglomerate with interests across B2B and B2C sectors) formed a joint venture - JSW MG Motor India Pvt. Ltd. in 2023. The joint venture aims to build an innovative and sustainable automotive ecosystem while continuing to stay focused on developing a diverse portfolio of vehicles to give car buyers better access to advanced technologies and futuristic products with attractive value propositions. JSW MG Motor India Pvt. Ltd. is committed to introducing world-class technology, strengthening the manufacturing landscape, best of innovation across its business operations, and generating significant employment opportunities through extensive localization.

      About Morris Garages Founded in the UK in 1924, Morris Garages vehicles were world-famous for their sports cars, roadsters, and cabriolet series. MG vehicles were much sought after by celebrities, including British Prime Ministers and even the British Royal Family, for their styling, elegance, and spirited performance. The MG Car Club, set up in 1930 at Abingdon in the UK, has thousands of loyal fans, making it one of the world’s largest clubs for a car brand. MG has evolved into a modern, futuristic, and innovative brand over the last 100 years. Its state-of-the-art manufacturing facility in Halol, Gujarat, has an annual production capacity of 1,00,000 plus vehicles and 6,000 direct and indirect employees. Driven by its vision of CASE (Connected, Autonomous, Shared, and Electric) mobility, the innovative automaker has augmented across-the-board ‘experiences’ within the automobile segment today. It has introduced several ‘firsts’ in India, including India’s first Internet SUV – MG Hector, India’s first Pure Electric Internet SUV – MG ZS EV, India’s first Autonomous (Level 1) Premium SUV – MG Gloster, the Astor- India’s first SUV with personal AI assistant and Autonomous (Level 2) technology, MG Comet – The Street-Smart Car and India’s first Intelligent CUV, MG Windsor.

      Website: https://www.mgselect.co.in/ Facebook: https://www.facebook.com/mgselectindia/ Instagram: https://www.instagram.com/mgselect/ LinkedIn: https://www.linkedin.com/company/mg-select-india/ YouTube: https://www.youtube.com/@MGSelect X: https://x.com/MGSelectIndia To View the Image, Click on the Link Below: Hon PM Shri Narendra Modi visits JSW MG Motor India’s pavillion at the BMGE 2025. Parth Jindal, Director, JSW MG Motor India and Rajeev Chaba, CEO Emeritus, JSW MG Motor India were with him.

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

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