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    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
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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
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    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
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    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
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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.
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    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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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.

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      Opposition members accuse govt of trying to control Railway Board via new legislation

      March 10, 2025

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      New Delhi, Mar 10 (PTI) Opposition members in the Rajya Sabha on Monday accused the government of trying to take control of the Railway Board through the Railways (Amendment) Bill, 2024, and alleged that it was avoiding scrutiny by a parliamentary panel.

      Railways Minister Ashwini Vaishnaw moved the Railways (Amendment) Bill, 2024, for consideration in the Upper House. The bill, which was passed by the Lok Sabha in December last year, seeks to enhance the functioning and independence of the Railway Board.

      With the inclusion of the Railway Board under the 1989 Railway Act, the appointment, qualifications, tenure and criteria for the Chairman and members of the Board will be the responsibility of the central government.

      The Bill also includes provisions to appoint an independent regulator that will oversee matters like fare determination and ensure the competitiveness of the Railways.

      "You have just gone for 'governmentalisation' of the Railway Board," Congress member Vivek K Tankha said while initiating discussion on the bill.

      Alleging that under the proposed legislation there is no liberty and sovereignty of the Railway Board, he said, "The very freedom of the Railway Board is lost and the functional autonomy of the Railway Board is lost. It is nowhere to be seen".

      Demanding that the Railway Board must be given autonomy, Tankha said, "If you are thinking about the modernisation of the Railways, then India cannot have a modern railway system if the Railway Board is not autonomous. If you are not empowering your institutions, if you are not allowing freedom of decision making to your institutions, India is not going to become a developed country".

      He also demanded accountability from the minister for accidents and stampedes at railway stations, including the recent one in the national capital.

      Expressing similar sentiments, Sushmita Dev (TMC) said the proposed legislation is repealing the 1890 and 1905 Acts and "the provisions of 1905 Act have been inserted into the 1989 Railway Act", which is a "200 section Act and covers almost every subject and every issue in the Railways Ministry".

      "Was it not the apt time for the Railway Minister to review that entire Act of (19)89, make amendments to it and then send that bill to an appropriate committee for scrutiny? Why is it that the government shy away from a standing committee, from a select committee?" Dev asked.

      She further said, "There could only be one reason that these committees will actually compel the minister for a reality check, a reality that he is not comfortable with".

      The TMC member said that in newspapers and TV channels, the word 'railway' is next to words like death, delay, congestion, stampede, extortion and accidents.

      "...when the word railway becomes synonymous with these disastrous words I think this was the moment to scrutinise the Railway Minister," she said.

      Taking part in the discussion, Manoj Jha, RJD, said overall members are expressing their concerns over the situation of the Railways more than speaking on the Bill.

      "Where I come from, the names of the trains like Shramshakti, Shramjeevi, Jansadhaaran - reflect the situation there. We still don't have any Vande Bharat train," he said, asking if 100 per cent electrification was required for railways.

      He also alleged that during the Mahakumbh, the regular coolies at the Prayagraj railway station were replaced by outsourced coolies.

      Haris Beeran of IUML asked if there was any consultation with stakeholders and "if not, the Bill should be referred to a committee".

      Similarly, Prakash Chik Baraik (TMC) also said the Bill should be sent to a select committee of Parliament while raising concerns over the increase in railway fares, highlighting 'premium tatkal' which "sometimes costs more than flight tickets, making it almost impossible for poor people to plan a sudden trip".

      P Sandosh Kumar of CPI asked the minister to "focus more on Rail than Reels", and alleged that during the 10 years of the NDA regime, there were 678 railway accidents - which is 68 accidents per year and is increasing day by day.

      At least 15 per cent of security-related posts are vacant, he said, adding steps should be taken to fill these posts while asking the minister to restore the discount for senior citizens in Railways.

      Refuting the charges by the opposition members, BJP member Subhash Barala said the bill aims to make the functioning of railways more smooth and transparent, more accountable and all the railway zones and the divisional managers would be given more autonomy and financial powers.

      Similarly, BJP's Geeta alias Chandraprabha and Sikandar Kumar said the Bill will strengthen the Railway board by giving it more power. It gives a legal sanction to the railway board by amending the Act. So far, the board has been functioning without constitutional sanction.

      Subhashish Khuntia of the BJP said his state Odisha is being ignored by the Railways, and JMM's Sarfraz Ahmad expressed similar sentiments that Jharkhand hasn't been given its due despite the state contributing a lot of revenue to the country.

      Former prime minister HD Devegowda JD (S) welcomed the Bill while lauding Vaishnaw's performance as the Railways Minister.

      Taking part in the discussion, NCP's Prafful Patel highlighted the importance of Railways in the country's transportation system, saying it has the "same importance today as they did years ago".

      Dharmshila Gupta (BJP) said the Bill would give the Railway Board more rights and strengthen the required legal framework to provide stability to railway employees.

      Fauzia Khan (NCP-SCP) said if the aim of the Bill was to unify and streamline railway governance, a much more comprehensive legal framework and a much more reform-oriented approach were needed in an important Bill like this.

      "A key constant demand has been ignored. The need for greater decentralisation in the railway administration," she observed, adding that the Sreedharan and Bibek Debroy committees formed in 2014 had both recommended this.

      Ghanshyam Tiwari (BJP) said the Railways has done commendable work during the recently concluded Mahakumbh.

      He said the electrification of China's railway network was lesser than India's and by 2030, electrification shall be completed on the entire network of Indian Railways.

      Brij Lal (BJP) said the Narendra Modi-led government has taken various measures to improve the Railways, including boosting its network connectivity, safety, security and cleanliness, among others.

      He said there was a notable decrease in terrorist incidents, particularly involving Railways after the current dispensation first came to power in 2014.

      Pradeep Kumar Verma (BJP) termed the proposed legislation a "revolutionary step" towards the 'Modi Ki Guarantee' and a crucial step towards reforming the Indian Railways, which will help realise the vision of better rail connectivity for the middle class.

      He said the Bill provides higher autonomy to the Railway Board and will enable the railways to undertake various reforms.

      Verma informed that between 2014-24, on average, 24 rail accidents per year have taken place as compared to an average of 171 per year between 2004 and 2014. PTI KKS RKL AO PRS RSN RKL BAL BAL

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