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    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
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    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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    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
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    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
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
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    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.
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    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.
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    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.
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    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.

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      Central team seeks data from farmers on MSP guarantee; talks to resume in Chandigarh on March 19

      February 23, 2025

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      Chandigarh, Feb 22 (PTI) A Central team on Saturday sought details of data presented by the protesting farmers to back their demand for legal guarantee for MSP on crops to discuss with experts during a fresh round of talks between the two sides held here.

      Union Agriculture Minister Shivraj Singh Chouhan, who led the three-member central team, said the meeting with farmer leaders was held in a cordial atmosphere and the next round of talks will take place in Chandigarh March 19.

      The farmers claimed that a legal guarantee for MSP can be given with an estimated outlay of Rs 25,000-30,000 crore per annum, as the discussions centred around the MSP guarantee law.

      Union ministers Pralhad Joshi and Piyush Goyal also attended the meeting on Centre's behalf.

      Speaking to the media after the meeting, Chouhan said the central team placed the farmers' welfare programme, which is the priority of the Narendra Modi government, before them during the meeting.

      "We heard the views of farmer leaders Jagjit Singh Dallewal and Sarwan Singh Pandher very carefully. A very good discussion took place. The talks would continue and the next meeting will be held in Chandigarh on March 19," the minister said after the meeting that lasted for nearly three hours.

      However, Chouhan did not take any questions from the media.

      Chouhan along with Joshi earlier reached the Mahatma Gandhi Institute of Public Administration -- the meeting venue -- at 6:05 pm to meet the 28-member farmers' delegation.

      Punjab Cabinet ministers Harpal Singh Cheema, Gurmeet Singh Khuddian and Lal Chand Kataruchak were also present at the meeting.

      Cheema said the farmer leaders presented some data to back their demand of legal guarantee for MSP on crops.

      "The ministers asked from where they collected the data. The farmers will share the details with the Centre in a couple of days," Cheema said.

      The data pertained to crop purchase made in the open market and at MSP, Cheema said.

      "There was some difference of opinion on data. As per the central team, the data shared by the farmers were not matching with the official records. They (central team) have asked for the sources of the data," Cheema said.

      "We hope some solution is reached at the next meeting on March 19," the Punjab finance minister said.

      Asked whether any discussion took place on pulses or other crops, Cheema said only the MSP issue was discussed at the meeting.

      The farmer leaders said after the meeting that they presented facts to back their demand for a legal guarantee for MSP on crops.

      "Which crop is sold below the MSP in which state was also shared with the central team. We presented our facts responsibly," farmer leader Abhimanyu Kohar said.

      "If the government's policy and intentions are clean, legal guarantee for MSP can be given with an estimated outlay of Rs 25,000-30,000 crore per annum," Kohar claimed.

      The central team will again sit with the farmers after holding a detailed discussion with experts, he said, adding that the market support price for crops in the country is negative.

      Kisan Mazdoor Morcha (KMM) coordinator Sarwan Singh Pandher said the central team shared details about schemes like Bhavantar Yojana and allocation of outlay in the Budget.

      They also informed about bringing a new mission on pulses, oilseeds and cotton crops, Pandher said.

      However, the Centre's policies were not as per the requirements of the farmers, Pandher said, as he highlighted the plight of the farming community.

      "We want to highlight the plight of the farmers. Therefore, we demand that Parliament should ensure legal guarantee for MSP," Pandher said.

      He also claimed that the agriculture ministry returned an unutilised sum of Rs 1 lakh crore to the Union finance minister in the past five years.

      "They (central team) had no answer to this. We will provide the entire data within a week for study," he said.

      "We shared the advantages of legal guarantee for MSP. It will stop farmer suicides as they will have a guarantee of getting the minimum price for their crop.

      "When farmers and labourers get the right prices, the purchasing power in the markets also increases. So what's the harm in giving a legal guarantee for MSP, we asked at the meeting," Pandher said. The central team did not say that they were not ready to frame a law to give legal guarantee for MSP, Pandher said.

      "They said more discussions were needed before taking a big decision like this (on MSP)," he added.

      Pandher also sought opening of roads at the Shambhu and Khanauri border points.

      "The farmers demand the Punjab government to pass a resolution in support of the farmers' 12 demands and reject the draft policy on the National Policy Framework on Agricultural Marketing (NPFAM) in the coming Vidhan Sabha session," Pandher said.

      To a question on the call to resume their 'march to Delhi' on February 25, Pandher said both the fora -- the Samyukta Kisan Morcha (Non-Political) and the Kisan Mazdoor Morcha (KMM) -- will take a call on this.

      "We cannot say that this meeting was conclusive or inconclusive. We can only say that discussions on legal guarantee for MSP have moved forward," Pandher said.

      The farmers' delegation also comprised Jagjit Singh Dallewal (70), who has been on a fast-unto-death at the Khanauri border point between Punjab and Haryana since November 26 to press the Centre to accept the agitating farmers' demands.

      Prior to the February 14 meeting, four rounds of meetings took place between central ministers and the protesting farmers in February 2024, but the talks remained inconclusive.

      The farmers under the banner of the Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha have been camping at the Shambhu and Khanauri border points between Punjab and Haryana since February 13 last year after security forces did not allow them to march to Delhi to press for their various demands.

      Besides a legal guarantee for MSP, the farmers are demanding debt waiver, pension for farmers and farm labourers, no hike in electricity tariffs, withdrawal of police cases against farmers, and justice for the victims of the 2021 Lakhimpur Kheri violence in Uttar Pradesh.

      Reinstatement of the Land Acquisition Act, 2013, and compensation to the families of farmers who died during a previous agitation in 2020-21 are also part of their demands. PTI CHS VSD ARI ARI

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