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    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
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    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
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    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.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    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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    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.
    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.

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      Shaping Tomorrow’s Golf Champions: The Leela Palace Bengaluru’s Third Annual Golf Tournament Concludes on a High Note

      March 20, 2025

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      Bengaluru, Karnataka, India – Business Wire India Following the resounding success of the first two editions, The Leela Palace Bengaluru hosted its third shotgun tournament at the Karnataka Golf Association recently. This year, the tournament was held in collaboration with the Junior Golf Development Programme and the Karnataka Golf Association.

      What truly set this tournament apart was its exceptional mix of rising stars and young talent, aged between 8 and 18, showcasing the full spectrum of golfing prowess. The tournament has always been centered around children, with the primary aim of inspiring the younger generation and fostering the development of their careers. This year, the tournament saw participation from over 40 children, 70% of whom were playing for the second time. They were supported by 80 adults, comprising corporate professionals and key personalities from various industries, who joined in championing the cause.

      The emerging golf talent in India continues to display exceptional promise, with numerous accolades highlighting their potential. Recent achievements of players who participated in the tournament include victories in prestigious events such as the U.S. Kids Indian Championship, U.S. Kids World Juniors, and U.S. Kids Singapore and Malaysian Championships, alongside top finishes at the IGU South Zone (India) and Epic WRX All India Tour. With multiple first-place finishes at events hosted by the Karnataka Golf Association, these golfers are demonstrating remarkable skill and determination, positioning themselves as future stars of the sport.

      The tournament was inaugurated with a shotgun tee-off by none other than the President of the Professional Golf Tour of India (PGTI), the legendary all-rounder, Shri Kapil Dev. An avid golfer himself, he has participated in various tournaments over the years. On the occasion, Shri Kapil Dev said, “The beauty of our country is that we can give children the space to play and dream. You never know which child will shine and make us proud. I'm glad to see The Leela stepping in to promote sports and provide young talent with the platform they deserve. Give them the opportunity, and the rest will come through their talent and hard work.” Madhav Sehgal, Area Vice President – South India, The Leela Palaces, Hotels and Resorts, added, “This year, the tournament reached new heights with young golfers who have earned global recognition. The Leela remains committed to inspiring budding talent, providing a platform where camaraderie and competition blend harmoniously to shape the champions of tomorrow.” Beyond the honour of triumph, winners were awarded exclusive stay and dining vouchers across The Leela Palaces, Hotels and Resorts.

      Winners of The Leela Annual Golf Tournament: • Kapil Dev Longest Drive – Rachana Bahadur​ • Straightest Drive – Ganesh Basavaraj, Managing Director, Machaan Resorts • Closest to the Pin (Par 3) – Ajay Kanwal • Handicap 0-18 • Winner – Ajay Vij, Senior Country Managing Director, Accenture • Runner-up – John Abraham • Handicap 19-24 • Winner – Rachna Bahadur, SVP, Country Head – India, Synchrony • Runner-up – Dr. Sanjay Rao • Kids Winners and Runners-up: • 14-18 years • Winner – Ayaan Jung • Runner-up – Manoj M • 12-14 years • Winner – Aida Thimmaiah • Runner-up – Prem Muniyappa • 9-11 years • Winner – Suryaansh Reddy • Runner-up – Dharma • 8 and below • Winner – Shanshank Sudhakar • Runner-up – Pramati Veera​ KGA JGDP PLAYERS TOP ACHIEVEMENTS • Aida Thimmaiah – Winner of the U.S. Kids Indian Championship 2023; regular winner in IGU South Zone events; participated in the U.S. Kids World Championship.

      • Vedika Bhansali – Top 5 finisher in the U.S. Kids World Juniors 2023 & 2024 at Pinehurst, USA.

      • Ruslaan Alam Khan – Regular top 3 finisher in IGU South Zone 2023 (Boys category); 2nd runner-up in the U.S. Kids Malaysian Championship.

      • Suryaansh Reddy – Regular top 3 finisher in IGU South Zone 2023 (Boys category).

      • Prem Muniyappa – 1st place in IGU South Zone event, Mercera Downs 2025.

      • Nayonika Kapoor – 1st place in U.S. Kids Local Tour, Southern India; secured 1st place in the Epic WRX All India Tour, Mysore.

      • Jaasritha Bharat – 1st place in IGU South Zone at TNGF; 1st in U.S. Kids Local Tour, Southern India.

      • Pragun Bharat – 2nd runner-up in IGU South Zone at TNGF.

      • Sancia Sendil – 1st place in IGU South Zone at Coorg Golf Links.

      • Tvishi Sinha – 2nd runner-up in the Epic WRX All India Tour, Mysore.

      • Isa Elizabeth – 1st place in the Epic WRX All India Tour, Mysore.

      • Rithik Srikanth – 1st place in the Epic WRX All India Tour at Clover Greens.

      • Karthik Dharma – 2nd runner-up in the Epic WRX All India Tour, JWGC Mysore.

      • Pramati Veera – 1st place in IGU South Zone at Coorg Golf Links & Mercera Downs 2025.

      • Shashank Sudhakar – 2nd place in IGU South Zone event, Mercera Downs 2025.

      • Pavan Kumar B – 1st place in IGU South Zone event, Mercera Downs 2025.

      About The Leela Palace Bengaluru The Leela Palace Bengaluru is a decadent palace, nestled amidst nine acres of lush gardens featuring six floors of elegant and spacious 357 rooms and suites. Built in an art-deco form drawing inspiration from the architectural style of the Royal Palace of Mysore and the palaces of the Vijayanagar Empire, its copper domes, arches and ornate ceilings reflect the grandeur of palaces of a bygone era. The hotel is near business districts, the cosmopolitan 100ft road, Indiranagar and offers easy access to the city centre on MG Road.

      To View the Image, Click on the Link Below: Kapil Dev at The Leela Annual Golf Tournament 3rd edition Awards (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR PWR

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