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    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
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
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    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Unimoni Brings Foreign Exchange and Travel Solutions Closer with Its Expansive Network

      February 3, 2025

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      300+ Branches and 15,000+ Agent Locations to Meet Customers' Needs KOCHI, India, Feb. 3, 2025 /PRNewswire/ -- Unimoni, a leader in the foreign exchange and travel service industry, is proud to announce the continued expansion of its robust network of 300+ branches and over 15,000 agent locations across India. This wide-reaching presence is designed to bring forex and travel services closer to the public, ensuring that individuals and businesses alike can access essential solutions conveniently, wherever they are across India.

      With 23+ years of expertise in the sector, Unimoni has built a reputation for delivering innovative, reliable, and accessible solutions to all. Unimoni offers a comprehensive range of services that cater to the needs of both personal and corporate clients, including remittances, foreign exchange, bill payments, and other customized financial solutions. Through this extensive network, Unimoni is redefining the way people access forex and travel services and making it easier for customers to manage their financial needs, whether for day-to-day transactions or long-term goals.

      A Deep-rooted Presence Across India Unimoni's vast network spans both urban and rural areas, making it one of the most accessible foreign exchange and travel service providers in the country. The company's 300+ branches are strategically located in key cities and towns, providing easy access to its services. In addition, the 15,000+ agent locations ensure that Unimoni is available in even the most remote regions, bridging the gap between customers and essential financial services.

      Whether it's for making money transfers, exchanging foreign currency, or availing travel solutions, Unimoni's network ensures that customers can easily find a location nearby. This extensive presence is a testament to the company's commitment to accessibility, customer satisfaction, and providing seamless solutions.

      Unimoni's Core Services Unimoni offers a broad spectrum of forex and travel services that are tailored to meet the diverse needs of its customers. Some of the key services include: 1. Send Money Abroad: Unimoni has made international money transfers easy and affordable. With its strong presence, the company enables individuals to send and receive money across borders, securely and efficiently, helping families stay connected no matter where they are located. Unimoni facilitates remittances for various purposes, including: - Visa Fees: Remit payments for visa processing and related documentation to help secure travel plans for employment, education, or leisure.

      - University Fee Payments & Overseas Educational Expenses: Pay tuition fees and other educational expenses for studying abroad with Unimoni, ensuring smooth transitions to international universities.

      - Employment Fees: Transfer payments related to employment, including recruitment fees and expenses for overseas job opportunities.

      - NRO and NRE Repatriation: Enable Non-Resident Indians (NRIs) to repatriate funds from their NRO and NRE accounts, ensuring seamless financial transactions.

      - Tour-related Payments: Facilitate remittance for booking travel packages, hotel stays, tours, and other trip-related expenses.

      - Gifts: Send funds as gifts to family members or friends across borders for birthdays, celebrations, or special occasions.

      - Maintenance of Close Relatives: Transfer money to support the well-being of close relatives living in other countries, including financial assistance for living expenses.

      - Migration Expenses: Support individuals with remittances to cover migration-related costs, such as accommodation, travel, and settlement in a new country.

      - Medical Treatment: Remit funds for medical treatments abroad, covering costs for surgeries, hospital stays, or specialized care unavailable locally.

      2. Foreign Exchange: Whether for travel, business, or education purposes, Unimoni provides competitive foreign exchange rates for a range of currencies. The company's foreign exchange services are available through both its branches and agent locations, ensuring convenience and flexibility for customers.

      3. Forex Cards: Customers can avail Unimoni's Forex Travel Cards to experience the ultimate convenience while traveling. This prepaid card allows users to load a single foreign currency or multiple currencies onto a single card. Forex cards are secured by a PIN for safe payments and withdrawals worldwide at ATMs and POS terminals.

      4. Travel & Holidays: Providing a wide range of customized travel packages, holiday services, visa assistance, air ticketing and hotel bookings, ensuring smooth travel experiences for individuals and groups.

      5. Insurance: Unimoni offers a variety of insurance products that cover property, motor, health, and travel, ensuring customers are protected against unforeseen circumstances. These offerings cater to individuals and families, providing peace of mind with reliable coverage.

      6. Overseas Educational Loan: Supporting students in pursuing higher education abroad by providing tailored educational loans with flexible repayment options.

      7. Gold Loan: Offering quick and hassle-free loans against gold, enabling customers to meet urgent financial needs with competitive interest rates.

      Customer-Centric Approach Unimoni has always prioritized customer satisfaction and strives to ensure that its services are available whenever and wherever customers need them. By leveraging its vast network of branches and agents, the company ensures that clients can access foreign exchange and travel services in a manner that fits their lifestyle. Unimoni's customers can rest assured that they are getting the best service possible.

      24x7 Customer Care Additionally, the company's dedicated staff members at every branch and agent location are well-trained and ready to assist clients with their needs. As part of its customer-centric approach, Unimoni provides 24X7 Customer Care Support, ensuring customers receive assistance whenever they need it. Unimoni's newly launched round-the-clock service at its Cochin Airport Branch at Nedumbassery further strengthens its commitment to convenience. This service is designed to meet the needs of travelers and customers who require financial services at any hour.

      Innovation and Future Growth As Unimoni continues to grow, the company is committed to enhancing its offerings and making financial services even more accessible. The expansion of its network of branches and agent locations is just one of the many ways the company is working to meet the evolving needs of its customers. Furthermore, Unimoni is constantly exploring new technologies to streamline its processes and improve service delivery, ensuring that it remains at the forefront of the foreign exchange and travel industry.

      With a focus on innovation and customer satisfaction, Unimoni is well-positioned to continue its growth and solidify its reputation as a trusted provider of foreign exchange and travel services in India. The company's extensive network and diverse range of offerings make it an ideal partner for anyone seeking reliable, efficient, and accessible foreign exchange and travel solutions.

      Unimoni is revolutionizing the landscape by offering comprehensive and easily accessible solutions through its wide network of 300+ branches and 15,000+ agent locations across India. With over two decades of industry expertise, the company is well-equipped to serve the diverse needs of individuals and businesses alike.

      As Unimoni continues to expand its reach and enhance its offerings, it remains committed to its core mission of delivering innovative and accessible services that make a real difference in the lives of its customers. With a focus on accessibility, customer-centricity, and technological innovation, Unimoni Financial Services Ltd. is poised to lead the way in the foreign exchange and travel services industry for years to come.

      For more information about Unimoni and its services, visit the website.

      Contact Details: Pratheep Thavara +91-79947 94526 [email protected] Photo: Embedded Media Logo: Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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