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    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
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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
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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
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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
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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
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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.
August 5, 2026
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Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
August 5, 2026
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Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
August 4, 2026
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Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.

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Trump proposes 'getting rid of FEMA' while touring disaster areas

January 25, 2025

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Los Angeles, Jan 25 (AP) President Donald Trump surveyed disaster zones in California and North Carolina on Friday and said he was considering “getting rid of” the Federal Emergency Management Agency, offering the latest sign of how he is weighing sweeping changes to the nation's central organization for responding to disasters.

In fire-ravaged California, the state's Democratic leaders pressed Trump for federal assistance that he's threatened to hold up, some setting aside their past differences to shower him with praise. Trump, in turn, pressured local officials to waive permitting requirements so people can immediately rebuild, pledging that federal permits would be granted promptly.

Instead of having federal financial assistance flow through FEMA, the Republican president said Washington could provide money directly to the states. He made the comments while visiting North Carolina, which is still recovering months after Hurricane Helene, on the first trip of his second term.

“FEMA has been a very big disappointment," the Republican president said. “It's very bureaucratic. And it's very slow." Trump was greeted in California by Gov Gavin Newsom, a Trump critic whom the president frequently disparages. The duo chatted amiably and gestured toward cooperation despite their bitter history.

“We're going to need your support. We're going to need your help,” Newsom told Trump. “You were there for us during COVID. I don't forget that, and I have all the expectations we'll be able to work together to get a speedy recovery.” Newsom has praised Trump before when looking for help from the federal government. In the early months of the coronavirus pandemic, he called Trump “thoughtful” and “collaborative.” Trump flew over several devastated neighborhoods in Marine One, the presidential helicopter, before landing in Pacific Palisades, a hard-hit community that's home to some of Southern California's rich and famous. Accompanied by first lady Melania Trump, he walked a street where all the houses have burned, chatting with residents and police officers.

It takes seeing the damage firsthand to grasp its enormity, Trump said after. The fires, which continue to burn, could end up being the costliest natural disasters in U.S. history.

“It is devastation. It really is an incineration," Trump said.

Trump's brief but friendly interaction with Newsom belied the confrontational stance he signaled toward California earlier in the day. Even on the plane en route to Los Angeles, White House press secretary Karoline Leavitt was using Trump's disparaging nickname for the governor, “Newscum,” and telling reporters “he has wronged the people of his state” and saying Trump was visiting to pressure Newsom and other officials “to do right by their citizens.” Trump said Los Angeles residents who lost their homes should be able to get back onto their properties immediately to clear them, adding several told him it will be months before they can rebuild.

Mayor Karen Bass said residents should be able to return home within the week, but keeping people safe from hazardous materials is a top priority. She said the city was easing the process to get permits, but she was repeatedly interrupted by Trump as she tried to explain the city's efforts. He downplayed the concerns about toxins, saying: “What's hazardous waste? We're going to have to define that.” Trump has a long history of minimizing the risks of asbestos. In his 1997 book, “The Art of the Comeback,” Trump called asbestos “the greatest fireproofing material ever used” and “100% safe, once applied,” and claimed the movement against the insulator was led by the mob, “because it was often mob-related companies that would do the asbestos removal.” Before flying to California, Trump reiterated that he wants to extract concessions from the Democratic-led state in return for disaster assistance, including changes to water policies and requirements that voters need to show identification when casting ballots.

Beyond Trump's criticism of FEMA, he's suggested limiting the federal government's role in responding to disasters, echoing comments from conservative allies who have proposed reducing funding and responsibility.

“I'd like to see the states take care of disasters,” he said in North Carolina. “Let the state take care of the tornadoes and the hurricanes and all of the other things that happen.” Trump said Michael Whatley, a North Carolina native and chair of the Republican National Committee, would help coordinate recovery efforts in the state, where frustrations over the federal response have lingered. Although Whatley does not hold an official government position, Trump said he would be “very much in charge.” FEMA helps respond to disasters when local leaders request a presidential emergency declaration, a signal that the damage is beyond the state's ability to handle on its own. FEMA can reimburse governments for recovery efforts such as debris removal, and it gives stopgap financial assistance to individual residents.

Trump has criticized former President Joe Biden for his administration's response to Helene in North Carolina. As he left the White House on Friday morning, he told reporters that “it's been a horrible thing the way that's been allowed to fester” since the storm hit in September, and “we're going to get it fixed up.” In a small town in western North Carolina, residents told Trump about wading through waist-deep water to escape from their homes while fearing for their lives. Some have battled with insurance companies to get their losses covered.

“We've come to North Carolina with a simple message," Trump said. “You are not forgotten any longer. You were treated very badly by the previous administration.” FEMA has distributed $319 million in financial assistance to residents, but that hasn't alleviated the feeling of abandonment among residents who are struggling to rebuild their lives.

Trump has showered California leaders with disdain for water policies that he falsely claimed worsened the recent blazes. He said he would “take a look at a fire that could have been put out if they let the water flow, but they didn't let the water flow.” In Los Angeles, he met with members of Congress and local officials from both parties in a meeting that was at times contentious.

Michael Coen, who served as chief of staff at FEMA during the Biden administration, said Trump was “misinformed” about an agency that provides critical help to states when they are overwhelmed by catastrophe.

In addition, Coen criticized the idea of attaching strings to assistance. "I think the American people expect the federal government will be there for them on their worst day, no matter where they live,” he said.

Trump tapped Cameron Hamilton, a former Navy SEAL with limited experience managing natural disasters, as FEMA's acting director.

Friday's trip could prompt some uncomfortable conversations about climate change, which Trump has played down and denied. Both Helene and the Los Angeles wildfires were exacerbated by global warming.

In Helene's case, a study by international climate scientists at World Weather Attribution found that climate change boosted the storm's rainfall by 10%. In California, the state suffered a record dry fall and winter — its traditional wet season — which made the area around Los Angeles more vulnerable to blazes.

“This is just breaking our comfort zone of what is supposed to be normal,” said University of Oregon researcher Amanda Stasiewicz.

After visiting North Carolina and California, Trump plans to hold a rally Saturday in Las Vegas. (AP) NSA NSA

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