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    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
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
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    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.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.

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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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