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    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
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    August 5, 2026
    Show AI Summary
    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
    Show AI Summary
    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.

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      Vision 2030: Mumbai as Culinary Capital of India launched by AHAR

      January 21, 2025

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      New Delhi [India], January 21: Sukesh Shetty, President AHAR said, AHAR (Association of Hotels and Restaurants) was established in 1979 and comprises 66 associations with over 8,000 members in Mumbai alone. In 2029, AHAR will celebrate its 50th Anniversary. AHAR was established by hotel owners, with a primary focus on solving industry problems and empowering its members. AHAR ensures that its operations are controlled exclusively by its members. Globally, certain cities are renowned for their iconic products. For example, Italy is famous for pizza. Mumbai has achieved fifth place on the global list for its iconic product, Vada Pav. Following Mumbai, Amritsar is celebrated for its Chana Masala. Additionally, India takes pride in the invention of Dal Khichadi, a value-for- money dish that reflects the essence of Indian cuisine.

      AHAR presented 50 Milestones which work has started to enable the Vision 2030 to become a reality . This was presented at the AHAR AGM held at Hotel Grand Hyatt in Mumbai. This was televised on Times Now, a leading English News Channel. These Milestones were taken up with different office bearers of AHAR and we felicitated them for their efforts as AHAR Super Heroes.

      Under the "Mitra Concept," AHAR aims to position Mumbai as the Culinary Capital Of India by 2030. This ambitious vision aligns with the growing global recognition of India’s culinary excellence and the hotel industry’s potential to lead the charge. Mumbai is the financial capital of India and home to a diverse population with migrants from across the country. This diversity has given Mumbai a rich culinary landscape, offering cuisines from all corners of India. To promote tourism, we need to enhance this culinary heritage and develop it into a strong, recognizable brand. There are various types of tourism, and food tourism is one of the most impactful ways to attract visitors. AHAR is a well-structured and highly communicative organization, which enables it to play a significant role in this transformation. We are committed to staying updated and adapting to the needs of the industry to help Mumbai evolve into a premier tourist destination.

      AHAR has initiated a new program in collaboration with RPH College, a catering college. As part of this program, our staff and hotel teams visit the college to train students in basic preparation techniques and the importance of preserving traditional food. Additionally, we are conducting training sessions for our staff, restaurant owners, and managers to develop creative approaches to presenting and promoting traditional Indian cuisine. This initiative aims to not only preserve India’s culinary heritage but also elevate its status on the global stage.

      At the AGM, Senior hoteliers , Ex-office Bearer, President awards nominees felicitated on stage with live audience of thousand plus hotel owner. Senior advisors of AHAR spoke about past, present C future trends in the hotel industry.

      AHAR Hospitality Summit had notable speaker Bhushan Gagrani – Municipal Commissioner of BMC, Ulhas Ingawale – Joint Commissioner, State Food Safety Commission, Sudhakar Shetty Secretary of AHAR, moderated by Santosh Shetty Senior Advisor.

      Bhushan Gagrani's said, "Mumbai is rapidly progressing, and I assure you that within the next 3 to 4 years, all major infrastructure projects will be completed. Projects such as the Coastal Road, metro lines, and the new airport will transform Mumbai into a modern, new age city.

      In technical terms, the government is providing the hardware- the necessary infrastructure. However, to run the program smoothly and make it impactful, we also need powerful software. This software comprises Mumbai’s rich heritage, diverse culture, and exceptional food scene.

      Over the years, significant changes have been made in the food industry, including reforms in licensing and the creation of various forums. Organizations like AHAR are actively supporting the government in these initiatives to streamline and enhance the industry.

      The new generation, often referred to as Gen Z, views dining out as more than just satisfying hunger—it’s about the experience. The food industry, currently valued at $70 billion, has immense potential to contribute to India's GDP. In alignment with Prime Minister Narendra Modi’s vision of achieving a $5 trillion economy, the food industry must play a larger role. This journey of growth and transformation will begin in Mumbai, setting an example for the rest of the country.

      To promote domestic tourism C increased hospitality sector the key is maintaining continuous dialogue with stakeholders to understand how we can facilitate growth and make life more comfortable for businesses and tourists alike. Often, government rules, such as those related to licensing, undergo changes, and these processes can be slow. To address this, consistent communication with stakeholders is essential. In the food industry, for instance, we need ongoing discussions with organizations like the BMC, FDA, and police. Directly engaging with every individual is not always feasible, which is why organizations like AHAR, which understand the industry's challenges, play a crucial role. These dialogues help us identify the actual issues, whether we are over-regulating or facilitating the industry appropriately. Recent improvements, such as the availability of online permissions, more user-friendly compliance processes, and the removal of certain outdated requirements (e.g., permits for permit rooms), have all been possible due to continuous engagement with organizations like AHAR.

      India must take pride in its own food heritage. We should not hesitate to promote the nutritional value and traditional significance of our cuisine. This kind of promotion will help us showcase the true essence of Indian food.

      Additionally, I believe AHAR can play a crucial role in promoting healthy eating among the new generation. With 40% of people being overweight, it’s essential to promote a balanced diet alongside the growth of the food industry. We need to ensure that while we promote the richness of our culinary culture, we also encourage healthy eating habits.

      I am open to dialogue with AHAR on how we can collaborate to promote both the traditional value of food and healthier eating choices.

      Regarding the Lok Sabha elections, our city had a low voter turnout. We were asked to increase voter participation in the assembly elections, and we sought help from AHAR. The AHAR team responded immediately, and as a result, voter turnout increased by 6 to 7%".

      Mr. Ulhas Ingawale Joint Commissioner, State Food Safety Commission said, " There have been significant changes in hygiene practices within the hotel industry, driven by evolving customer expectations. Post-COVID, cleanliness and hygiene have become top priorities. Enhanced cleaning protocols have been implemented across establishments to ensure the highest standards of safety and sanitation. Many restaurants have partnered with global health organizations to participate in certification programs, further emphasizing their commitment to hygiene. Additionally, staff training and dedicated hygiene programs have been introduced to maintain consistent cleanliness and meet customer expectations.

      AHAR plays a significant role in the hotel industry by facilitating FOSTAC training. This training helps restaurant owners understand food safety and compliance requirements. To further enhance this initiative, AHAR could provide online training and resources, particularly for small restaurant owners. Regular refresher workshops and training programs focused on food safety would also be beneficial for small establishments.

      So far, AHAR has conducted 100 FOSTAC training sessions, benefiting 4000 restaurants. All expenses for these sessions have been borne by AHAR members.

      FOSTAC, or Food Safety Training and Certification, is a government initiative aimed at improving food safety. The government has allocated a grant of ₹2 crore to the FDA for training 30,000 food handlers under a 100-day program. AHAR is expected to play an important role in achieving this target and supporting the industry’s growth.

      Currently, the FOSTAC certificate is valid for 2 years. This is due to the constant changes in technology and global food safety trends. To ensure food handlers remain updated with these changes, it’s important for staff to continue their education and stay informed. A certificate validity of 2 years ensures that the person is actively involved in food handling and that they stay current with the latest standards.

      According to global standards, most certifications and licenses are valid for 2 to 3 years. A 5-year validity could create a significant gap, potentially leaving individuals unaware of critical updates. The government is also taking steps to ensure that people are continuously trained and informed.

      FSSAI licenses require on site inspection and documentation, including building layouts and disposal systems, to ensure public health safety. However, we are working on introducing a Tatkal license process for restaurants. This would involve a one-time verification, and once compliance is met, the license will be issued. We are also working to reduce the current 60-day processing period".

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

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