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    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
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
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    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
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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
    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    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.
    August 5, 2026
    Show AI Summary
    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
    Show AI Summary
    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.

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      With Gaza ceasefire in limbo, Israel tries to impose alternative plan on Hamas

      March 3, 2025

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      Gaza City, Mar 3 (AP) Israel this week introduced what it said was a new US ceasefire plan — different from the one it agreed to in January — and is trying to force Hamas to accept it by imposing a siege on the Gaza Strip.

      Prime Minister Benjamin Netanyahu referred to it as the “Witkoff proposal,” saying it came from US President Donald Trump's Mideast envoy, Steve Witkoff. But the White House has yet to confirm that, saying only that it supports whatever action Israel takes.

      Netanyahu's remarks came a day after the first phase of the negotiated ceasefire ended, with no clarity on what would come next since the agreement's second phase has not yet been hammered out.

      The new plan would require Hamas to release half its remaining hostages — the militant group's main bargaining chip — in exchange for a ceasefire extension and a promise to negotiate a lasting truce. Israel made no mention of releasing more Palestinian prisoners — a key component of the first phase.

      Hamas has accused Israel of trying to sabotage the existing agreement, which called for the two sides to negotiate the return of the remaining hostages in exchange for more Palestinian prisoners, a full Israeli withdrawal from Gaza and a lasting ceasefire. But no substantive negotiations have been held.

      On Sunday, Israel halted all food, fuel, medicine and other supplies to Gaza's population of some 2 million people and vowed “additional consequences” if Hamas did not embrace the new proposal.

      Arab leaders are meanwhile finalising a separate plan for postwar Gaza to counter Trump's suggestion that its population be relocated so it can be transformed into a tourist destination.

      But all bets are off if the war resumes.

      The existing agreement is in limbo The ceasefire reached in January, after more than a year of negotiations mediated by the United States, Egypt and Qatar, laid out a three-phase plan to return all the hostages taken by Hamas on Oct. 7, 2023, and ending the war triggered by the attack.

      Hamas-led militants killed some 1,200 people that day, mostly civilians, and took 251 hostage. More than 100 were released in an earlier ceasefire. Israeli forces rescued eight and recovered dozens of bodies before the current ceasefire took hold.

      During the first, six-week phase, Hamas released 25 living Israeli hostages and the bodies of eight more in exchange for nearly 2,000 Palestinian prisoners. Israeli forces withdrew from most of Gaza and allowed an influx of desperately needed humanitarian aid. Each side accused the other of violations, but the deal held.

      Phase 2 was always going to be far more difficult because it would force Israel to choose between securing the return the hostages and annihilating Hamas — two of Netanyahu's main war goals.

      Hamas, which remains in control of Gaza, has said it will only release the remaining hostages if Israel ends the war. But that would leave the militant group intact and with major influence over the territory, even if it hands over formal power to other Palestinians, as it says it is willing to do.

      The new plan favours Israel Hamas still has 59 hostages, 35 of whom are believed to be dead. Under the so-called Witkoff plan, it would release half the hostages on the first day — apparently without getting anything new in return.

      The sides would then have around six weeks — through the Muslim holy month of Ramadan and the Jewish Passover holiday ending April 20 — to negotiate a permanent ceasefire and the return of the remaining hostages.

      But with fewer hostages, Hamas' hand would be weakened, and Israel and the United States are already speaking about new conditions — like the disarmament of Hamas or the exile of its leadership — that were not part of the original agreement.

      A political lifeline for Netanyahu Netanyahu's narrow coalition is beholden to far-right allies who want to eliminate Hamas, depopulate Gaza through what they refer to as “voluntary emigration” and rebuild Jewish settlements in the territory. Finance Minister Bezalel Smotrich has threatened to bring down the government if Netanyahu enters Phase 2 of the existing agreement and does not resume the war.

      The new plan would buy Netanyahu six weeks of breathing room and enough time to pass a budget by the end of the month — something he must do to keep his government from automatically falling. If it falls, elections would be held roughly a year and a half ahead of schedule and could see him removed from power.

      Opposition parties say they would ensure Netanyahu's government is not brought down over a deal that returns the rest of the hostages. But that would still weaken him politically.

      The American position is unclear Netanyahu says his government has "fully coordinated" its approach with the Trump administration, which has publicly endorsed Israel's war goals, including the eradication of Hamas. But Witkoff has not said a word in public about the plan that supposedly bears his name.

      Trump himself has sent mixed signals about Gaza.

      As a candidate, he pledged to end wars in the Middle East, and he took credit for pushing the ceasefire agreement past the finish line just before his inauguration.

      But he has also expressed revulsion at Hamas' treatment of the captives and suggested that “all hell” should break loose if they are not immediately returned, while leaving that decision to Israel.

      An Arab counterproposal to Trump's Gaza plan Trump has also floated the idea of relocating Gaza's roughly 2 million Palestinians to other countries so the US can rebuild it as a tourist destination. Netanyahu welcomed that proposal, which was universally rejected by Palestinians, Arab countries and human rights experts, who warn it could violate international law.

      It's hard to see how Trump's Gaza plan would be carried out without Israel resuming the war and launching an even bloodier offensive than the last one, which left much of Gaza in ruins and killed over 48,000 Palestinians, according to local health authorities. They say more than half of those killed were women and children but do not specify how many of the dead were combatants.

      Egypt has developed a counterproposal expected to be endorsed at an Arab summit in Cairo on Tuesday. Under its plan, Palestinians would remain in Gaza and relocate to “safe zones” while cities are rebuilt. Hamas would hand over power to a transitional authority of political independents while the international community works to empower the Western-backed Palestinian Authority.

      But Israel, which has ruled out any role for the Palestinian Authority in postwar Gaza, is unlikely to accept such a plan. And while Trump has called on Arab countries to come up with their own proposal, it's unclear whether he would go for it either. (AP) AMS

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