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    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
    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
    Show AI Summary
    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
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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
    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      PM Modi, French President Macron hold talks, agree on deepening engagement in Indo-Pacific

      February 12, 2025

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      Paris, Feb 12 (PTI) Prime Minister Narendra Modi and French President Emmanuel Macron on Wednesday called for enhancing trade and investment ties between the two countries and committed to further deepening their engagement in the Indo-Pacific and various global forums and initiatives.

      After their wide-ranging talks, the two leaders also underlined their commitment to concrete actions to ensure that the global AI sector can drive beneficial social, economic, and environmental outcomes in the public interest.

      A joint statement issued after the meeting here said the talks covered a full spectrum of bilateral relations, as well as key global and regional issues.

      The two leaders stressed an urgent need for reform in the United Nations Security Council and agreed to coordinate closely on various global issues, including the UNSC matters.

      French President Macron reiterated France's firm support for India's permanent membership of the UNSC.

      The two leaders reaffirmed their strong commitment to India-France Strategic Partnership while noting that it has steadily evolved into a multifaceted relationship over the past 25 years.

      Prime Minister Modi flew together from Paris to Marseille in the French Presidential Aircraft last evening and held discussions here on the full spectrum of bilateral relations and key global and regional issues.

      This was followed by delegation-level talks after arrival in Marseille.

      The two leaders reviewed cooperation in the strategic areas of defence, civil Nuclear Energy and Space. They also discussed ways to strengthen collaboration in the fields of Technology and Innovation.

      This area of partnership assumes greater salience in the backdrop of the just concluded AI Action Summit and the upcoming India-France Year of Innovation in 2026, the statement said.

      The leaders also called for enhancing trade and investment ties.

      President Macron also hosted a dinner in honour of the Prime Minister in the coastal town of Cassis, near Marseille. Prime Minister invited President Macron to visit India.

      The list of 10 outcomes included the India-France Declaration on AI, launch of the logo for the India-France Year of Innovation 2026, and Letter of Intent between India's Department of Science and Technology (DST) and France's Institut National de Recherche en Informatique et en Automatique (INRIA) France to establish the Indo-French Centre for the Digital Sciences.

      An agreement was also signed for hosting 10 Indian startups at the French start-up incubator Station F, while a Declaration of Intent was signed on the establishment of a partnership on Advanced Modular Reactors and Small Modular Reactors.

      Other outcomes included the renewal of MoU between the Department of Atomic Energy (DAE) and Commissariat a l'Energie Atomique et aux Energies Alternatives of France (CAE), for cooperation with the Global Centre for Nuclear Energy Partnership (GCNEP).

      And the implementation of an agreement between DAE of India and CEA of France concerning cooperation between GCNEP India and Institute for Nuclear Science and Technology (INSTN), France.

      A joint declaration of intent on Triangular Development Cooperation was signed, while the two leaders also jointly inaugurated the Indian consulate in Marseille, and a declaration of intent was signed between The Ministry for the Ecological Transition, Biodiversity, Forests, Marine Affairs and Fisheries and The Ministry of Environment, Forest and Climate Change in the Field of Environment.

      Modi reached France on Monday and also co-chaired the Artificial Intelligence Action Summit along with Macron.

      This is Modi's sixth visit to France and follows Macron's visit to India in January 2024 as the Chief Guest for the 75th Republic Day of India.

      The two leaders also visited the International Thermonuclear Experimental Reactor facility here.

      The two leaders reiterated their call for reformed and effective multilateralism to sustain an equitable and peaceful international order, address pressing global challenges and prepare the world for emerging developments, including in the technological and economic domains.

      The two leaders stressed, in particular, the urgent need for the reform of the United Nations Security Council and agreed to coordinate closely in multilateral fora, including on UNSC matters.

      The two leaders agreed to strengthen conversations on the regulation of the use of the veto in case of mass atrocities.

      They held extensive discussions on long-term global challenges and current international developments and agreed to intensify their global and regional engagement, including through multilateral initiatives and institutions.

      They welcomed the continuation of the cooperation of air and maritime assets in line with the ambitious Defence Industrial Roadmap agreed in 2024.

      Both leaders commended progress in collaboration in the construction of Scorpene submarines in India, including indigenisation, and in particular the work carried out with a view to the integration of DRDO-developed Air Independent Propulsion (AIP) into P75-Scorpene submarines and the analyses conducted regarding the possible integration of the Integrated Combat System (ICS) into the future P75-AS submarines.

      Both leaders also welcomed the commissioning of the sixth and final submarine of the P75 Scorpene-class project, INS Vaghsheer, on 15 January 2025.

      Both sides welcomed the ongoing discussions on missiles, helicopter engines and jet engines.

      They also welcomed the excellent cooperation between the relevant entities in the Safran group and their Indian counterparts.

      Modi invited the French Army to take a closer look at the Pinaka rocket launcher, emphasising that an acquisition of this system by France would be another milestone in Indo-French defence ties.

      In addition, President Macron welcomed the decision to include India as an observer to the Eurodrone MALE programme managed by OCCAR, which is another step forward in the growing strength of our partnership in defence equipment programmes.

      Both leaders had a detailed conversation on international issues, including the Middle-East and the war in Ukraine, the statement said.

      They agreed to pursue their efforts to coordinate and remain closely engaged regularly.

      The two leaders agreed to work together more closely on implementing the India-Middle East-Europe Corridor (IMEC) and acknowledged the strategic location of Marseille in the Mediterranean Sea.

      They underlined the key importance of strengthening EU-India relations, in view of the upcoming India-EU summit at the earliest possible in New Delhi.

      They appreciated the growing cooperation in trilateral format with Australia and with the United Arab Emirates.

      They commended the joint military exercises that took place between France, India and the United Arab Emirates, as well as the participation of India, France and Australia in each others' multilateral military exercises.

      The two leaders underlined their common commitment to a free, open, inclusive, secure and peaceful Indo-Pacific region.

      They reiterated their desire to continue to deepen bilateral cooperation in the space sector.

      The two leaders reaffirmed their unequivocal condemnation of terrorism in all its forms and manifestations, including cross-border terrorism. They called for the disruption of terrorism financing networks and safe havens. They further agreed that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts.

      The leaders also called for concerted action against all terrorists.

      They welcomed the ongoing discussions to create a comprehensive framework for enhanced bilateral cooperation in the civil aviation sector, which is at advanced stages, the statement said.

      Noting the record level of bilateral trade in 2024, they acknowledged that there is vast untapped potential for trade and investment between the two countries.

      Both leaders highlighted the need to maintain strong confidence for companies investing in France and in India.

      Prime Minister Modi congratulated President Macron on the successful organisation of the Paris Olympics and Paralympics 2024 and thanked President Macron for his willingness to share France's experience and expertise regarding the organisation and securing of major international sporting events in the context of India's bid to host the Olympics and Paralympics Games in 2036. PTI BJ AMS

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