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    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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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
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
    Show AI Summary
    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.

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      Dr. Brahmasri Madugula Nagaphani Sarma Honored with Padma Shri for His Contributions to Sanskrit and Telugu Literature

      February 11, 2025

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      In a moment of immense pride for the literary, spiritual, and cultural community, Guruji Dr. Brahmasri Madugula Nagaphani Sarma, the esteemed Peethadhipathi of Avadhana Saraswathi Peetham, has been conferred with the prestigious Padma Shri award. This honor recognizes his extraordinary contributions to Sanskrit and Telugu literature, particularly in reviving, revolutionizing, and propagating the rare and ancient Indian literary art of Avadhanam. His unparalleled dedication and intellectual prowess have cemented his legacy as one of India’s greatest literary and spiritual minds.

      The Revival of a Lost Art: Avadhanam Avadhanam is an intricate and rare literary art that dates back thousands of years in India’s rich cultural history. It is an art form that requires an Avadhani to engage in simultaneous poetic composition while responding to queries posed by multiple scholars. The Avadhani must not only compose metrical poetry instantaneously but also memorize and reproduce it without the aid of any written reference. This challenging intellectual exercise demands extraordinary memory, deep knowledge of Vedic philosophy, Puranas, Itihasas, and an innate command over Sanskrit and Telugu literature.

      Dr. Nagaphani Sarma has single-handedly brought Avadhanam back into the cultural and literary spotlight, inspiring younger generations to take up this intellectually demanding discipline. By performing Avadhanams across the globe and encouraging students and scholars alike to engage with this art form, he has ensured its survival and resurgence in contemporary society.

      A Prodigy and a Living Legend Dr. Nagaphani Sarma’s journey in Avadhanam began at an incredibly young age. At just 14 years old, he performed his first Avadhanam, earning the distinction of being the youngest Avadhani in the country. His prodigious talent set him on a path of excellence, and over the course of his illustrious 52-year career, he has performed over 2,000 Avadhanams across India and beyond. His ability to effortlessly compose and recall complex metrical compositions has left audiences spellbound, earning him a reputation as a master of memory and literature.

      His groundbreaking achievements include being the first and only Avadhani to successfully perform Maha Sahasravadhanam with 1,116 scholars and later Dwi Sahasravadhanam with 2,116 scholars in both Sanskrit and Telugu. These extraordinary feats have elevated Avadhanam from an esoteric scholarly exercise to a widely appreciated and celebrated literary tradition, making it accessible to the general public.

      The Establishment of Avadhana Saraswathi Peetham Recognizing the need to create a dedicated institution to preserve and propagate the art of Avadhanam, Dr. Nagaphani Sarma established Avadhana Saraswathi Peetham three decades ago. This ashram, located in a serene and spiritually vibrant setting, serves as an abode of Goddess Saraswathi, the deity of wisdom and learning. It also houses a Goshala with over 100 desi cows, emphasizing the importance of cow protection and sustainability in Indian culture.

      The Peetham is not merely a religious or literary institution but a hub of education, culture, spirituality, and social service. Through its various programs, it has uplifted thousands of students, scholars, and the general public by providing them with access to knowledge, wisdom, and cultural heritage. The institution conducts regular educational workshops, literary symposiums, cultural performances, and spiritual discourses, ensuring that the rich traditions of Indian literature and spirituality are passed down to future generations.

      Vishwabharatam: A Magnum Opus in Sanskrit Dr. Nagaphani Sarma’s literary genius is not limited to Avadhanam alone. Inspired by the historic abrogation of Article 370 in Jammu & Kashmir by Hon’ble Prime Minister Shri Narendra Modi, he composed Vishwabharatam, a monumental Sanskrit Mahakavyam comprising over 2,650 shlokas. This epic poem beautifully narrates the grandeur of India’s culture, spirituality, and national identity, portraying the country’s rich traditions, diverse landscapes, great saints, social reformers, and various art forms.

      The central theme of Vishwabharatam is Shanta Rasa (serenity), with a core objective of universal peace, restoration of Akhand Bharat, and the vision of India as Vishwa Guru (world leader in knowledge and wisdom). This magnum opus was inaugurated by Shri Mohan Bhagwat, underscoring its national and spiritual significance. The work stands as a testament to Dr. Nagaphani Sarma’s vision of India’s cultural resurgence and his unwavering commitment to national integration and peace.

      A Prolific Literary and Musical Contributor Dr. Nagaphani Sarma’s contributions to literature and music are vast and unparalleled. Over the years, he has authored more than 40 books and 33,000 poems across various literary genres, including epics, devotional poetry, and philosophical treatises. His melodious voice has brought life to over 3,000 songs and stotrams, enchanting audiences with their divine resonance.

      Additionally, he has delivered over 11,000 hours of discourses on Sanatana Dharma, Sanskrit, and Telugu literature, promoting the ideals of Vedanta, Bhakti, and nationalistic thought. His speeches and writings continue to inspire millions, reinforcing the timeless wisdom of India’s spiritual and literary traditions.

      Recognition from Eminent Leaders and Scholars Dr. Nagaphani Sarma’s remarkable talent has been acknowledged and appreciated by some of India’s greatest leaders and intellectuals. Former Prime Ministers Shri Atal Bihari Vajpayee and Shri P.V. Narasimha Rao, Shri N. Chandrababu Naidu, Shri N.T. Rama Rao, Shri Mohan Bhagwat, and former Presidents Shri Shankar Dayal Sharma and Shri K.R. Narayanan have all been mesmerized by his melodious poetry and extraordinary memory skills. His ability to captivate audiences with his words, both written and spoken, has made him a national treasure.

      Service to Society and Administrative Roles Beyond his literary and musical endeavors, Dr. Nagaphani Sarma has played an active role in public service and administration. He has served as the Additional Secretary of the Dharma Prachara Parishad at Tirumala Tirupati Devasthanam and held the prestigious position of Chairman (Cabinet Rank) of the Official Language Commission, Government of Andhra Pradesh (undivided).

      His work in these roles has been instrumental in promoting Indian culture, Sanskrit education, and national integration. Through various initiatives, he has facilitated the revival of traditional Indian knowledge systems and has been a guiding force for numerous scholars and institutions dedicated to the cause of Dharma.

      A Fitting Honor: Padma Shri Award The Padma Shri award conferred upon Guruji Dr. Brahmasri Madugula Nagaphani Sarma is a well-deserved recognition of his lifelong dedication to preserving India’s ancient literary traditions, spiritual wisdom, and cultural heritage. His relentless efforts in the fields of literature, education, and spirituality have left an indelible mark on the intellectual and cultural landscape of India.

      As he continues his mission of spreading the wisdom of Avadhanam, Vedic knowledge, and Indian literature, Dr. Nagaphani Sarma remains a guiding light for scholars, artists, and spiritual seekers worldwide. His contributions are not just an inspiration for today’s generation but a legacy that will shine brightly for centuries to come.

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

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