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    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
    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
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    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
    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.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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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.

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      Amazon's advocates fear Trump's return means little US help to protect rainforest

      January 28, 2025

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      Bogota (Colombia), Jan 28 (AP) Alexis Damancio Silva can't forget the hardship in his town of Puerto Narino in far southern Colombia last year when extreme drought nearly dried up the Amazon River. Pink dolphins and fish died. Crops dried up. The town lost its easy access to markets.

      Silva is hopeful the US would help fund projects that could make Indigenous communities like his more resilient - solar panels for energy to refrigerate fish, for example, or cisterns to catch precious rain water.

      “We ask the government of President Trump...to send us resources,” to help the region's Indigenous people, he said in a Zoom interview with The Associated Press. Little comes from the state, he said.

      Environmental groups say that's unlikely to happen, and that was even before Trump froze new funding for almost all US foreign assistance.

      They fear Donald Trump's second administration will bring nothing good for the Amazon rainforest. Besides Trump's Day 1 move to withdraw from the Paris climate agreement, they fear he'll cut US funding for policing that has targeted illegal logging, mining and other things that have damaged the rainforest. They also worry he will back right-wing politicians who favour aggressive development in the Amazon, which is critical for storing carbon dioxide that would otherwise warm the planet.

      “The implications of the Trump administration for the Amazon rainforest range from very concerning to horrifying,” said Andrew Miller, advocacy director of nonprofit Amazon Watch.

      Trump's first week back in office was loaded with executive orders that prioritised fossil fuels, including declaring an energy emergency in the US and his intent to sweep aside barriers to developing oil and gas. They've also been wrapped in an “America First” message that doesn't fit with expansive foreign aid.

      On Sunday, he swiftly faced down Colombia President Gustavo Petro on Sunday by threatening steep tariffs after Petro refused to allow military planes carrying deported migrants to land in Colombia. Trump's plans to play hardball in the region were evident weeks ago when he suggested he could use military force to take control of the Panama Canal.

      Miller said his organisation had advised its partners “to assume the Trump administration priorities will not include climate, environmental or Indigenous rights programmes.” In Trump's first term, US Agency for International Development's budget ranged from about $17 billion to $27 billion annually, with significant proposed cuts that were often moderated by Congress. Under President Joe Biden, USAID's budget rose to $30.5 billion in 2024, with a focus on global health, climate action, humanitarian aid, and promoting democracy. The new administration said the aid freeze would be in place for 90 days as it considers which programmes to keep.

      In Brazil, home to around 60% of the Amazon, organised crime like logging and drug trafficking thrived under the far-right presidency of Jair Bolsonaro, with severe environmental consequences. President Luiz Inácio Lula da Silva made the protection of the Amazon a central priority when he took office in 2023.

      Brazil's environment minister, Marina Silva, told the AP that Trump's return poses a significant test for US democracy and international institutions, and that as the world's second-largest emitter of greenhouse gases, it is “crucial” the US fulfil its responsibilities.

      She sees some hope, saying the world has much stronger climate governance nowadays in the face of the climate crisis.

      “This doesn't mean we'll have an easy time with Trump in office, quite the opposite,” Marina Silva said. “We just have to acknowledge that we´re already seeing some companies and leaders... abandoning or loosening commitments made previously.” Since Trump's election, several major US banks have withdrawn from a network aimed at lending practices that square with a global commitment to reduced emissions.

      Silva said it's important for countries to keep “reaffirming the size of the climate challenges” and showing how to overcome them. “Reality needs to take precedence over President Trump's well-known denialist rhetoric,” she said.

      The Trump administration did not respond to messages seeking comment.

      Support for pro-development politicians? Development in the Amazon is a polarising issue in Brazil. Lawmakers who support it focus on economic growth, job creation, and infrastructure. More liberal lawmakers, environmentalists and Indigenous rights groups oppose it over damage to the environment and impacts on people who live in the forest.

      Lula has had some success in clamping down on illegal logging, mining, drug trafficking, and conversion of land for agriculture. That came with support from Biden, who in November became the first US president to visit the Amazon and pledged $50 million to the Amazon Fund, which raises money to protect the Amazon rainforest. Much of that money went toward increased policing in the region.

      Carlos Nobre, a Brazilian climate scientist and leading researcher studying the Amazon rainforest, said he didn't see Trump continuing that commitment. He also said he is concerned about Trump's past support for Bolsonaro, and expected him to again boost right-wing politicians.

      Though Bolsonaro is prohibited from running for office until 2030, his son Eduardo is a potential presidential candidate next year and Brazil's National Congress has plenty of members who favour Amazonian development.

      Jair Bolsonaro, who has supported Trump's false claims of a stolen 2020 election, tried to attend his inauguration but wasn't allowed to leave Brazil to attend. Eduardo Bolsonaro did attend.

      Miller expected Trump to tilt toward “extreme right-wing candidates” who offer him praise, boosting them in elections.

      "Their policies, should they be elected, will spell disaster for the Amazon rainforest in the foreseeable future," Miller said. “Trump 2.0 will offer Amazonian governments a permission structure to ignore or walk back climate commitments, precisely at the moment when protection of the rainforest demands greater ambition and regional coordination.” Miller is most concerned about US support for multilateral human rights mechanisms like the Inter-American Commission on Human Rights and the United Nations Office of the High Commissioner for Human Rights.

      “Both are important for the protection of threatened Amazon community leaders and environmental defenders," he said.

      Funding cuts and multinational cooperation John Walsh, director for drug policy and the Andes at the Washington Office on Latin America, said funding cuts are his major concern after policy.

      “We can expect steep cuts if not entire elimination of US foreign aid that was directed towards climate mitigation and adaptation globally,” Walsh said. “That's matched by the incoming administration's focus on how to cut the federal budget in ways that will fall almost entirely on discretionary programmes that don't have solid constituencies domestically." Trump was generally sceptical of multinational cooperation in his first term, preferring a more unilateral approach to foreign policy with his administration often prioritising US interests over international agreements or collaborations.

      "For an issue like climate change, that is a collective action problem ... and for the world's largest economy and historically the largest emitter of carbon dioxide to absent itself from that ... is significant," Walsh said. (AP) SCY SCY

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