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    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
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    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
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    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.
    August 5, 2026
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
    Show AI Summary
    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
    Show AI Summary
    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
    Show AI Summary
    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.

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      This Ramadan, relief, hope bump against violence, uncertainty in new Syria

      March 25, 2025

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      Damascus, Mar 25 (AP) Sahar Diab had visited Damascus' famed Umayyad Mosque previously. But as the Syrian lawyer went there to pray during her country's first Ramadan after the end of the Assad family's iron-fisted rule, she felt something new, something priceless: A sense of ease.

      “The rituals have become much more beautiful,” she said. “Before, we were restricted in what we could say. ... Now, there's freedom.” As Diab spoke recently, however, details were trickling in from outside Damascus about deadly clashes. The bloodshed took on sectarian overtones and devolved into the worst violence since former President Bashar Assad was overthrown in December by armed insurgents led by the Islamist group Hayat Tahrir al-Sham (HTS).

      This Ramadan — the Muslim holy month of daily fasting and heightened worship — such are the realities of a Syria undergoing complex transition. Relief, hope and joy at new openings — after 53 years of the Assad dynasty's reign, prolonged civil war and crushing economic woes — intermingle with uncertainty, fear by some, and a particularly bloody and worrisome wave of violence.

      Some are feeling empowered, others vulnerable.

      “We're not afraid of anything,” Diab said. She wants her country to be rebuilt and to get rid of Assad-era “corruption and bribery”.

      At the Umayyad Mosque, the rituals were age-old: A woman fingering a prayer bead and kissing a copy of the Quran; the faithful standing shoulder-to-shoulder and prostrating in prayer; the Umayyad's iconic and unusual group call to prayer, recited by several people.

      The sermon, by contrast, was fiery in delivery and new in message.

      The speaker, often interrupted by loud chants of “God is great”, railed against Assad and hailed the uprising against him.

      “Our revolution is not a sectarian revolution even though we'd been slaughtered by the sword of sectarianism,” he said.

      This Ramadan, Syrians marked the 14th anniversary of the start of their country's civil war. The conflict began as one of several popular uprisings against Arab dictators, before Assad crushed what started as largely peaceful protests and a civil war erupted.

      It became increasingly fought along sectarian lines, drawing in foreign powers and fighters. Assad, who had ruled over a majority Sunni population, belongs to the minority Alawite sect and had drawn from Alawite ranks for military and security positions, fuelling resentment. That, Alawites say now, shouldn't mean collective blame for his actions.

      Many Syrians speak of omnipresent fear under Assad, often citing the Arabic saying, “the walls have ears”, reflecting that speaking up even privately didn't feel safe. They talk of hardships, injustices and brutality. Now, for example, many celebrate freedom from dreaded Assad-era checkpoints.

      “They would harass us,” said Ahmed Saad Aldeen, who came to the Umayyad Mosque from the city of Homs. “You go out ... and you don't know whether you'll return home or not.” He said more than a dozen cousins are missing; a search for them in prisons proved futile.

      Mohammed Qudmani said even going to the mosque caused anxiety for some before, for fear of getting on security forces' radar screen or being labelled a “terrorist”.

      Now, Damascus streets are bedecked with the new three-starred flag, not long ago a symbol of Assad's opponents. It flutters from poles and is plastered to walls, sometimes with the words “God is great” handwritten on it.

      One billboard declares this the “Ramadan of victory.” On a government building, the faces of former presidents Bashar and Hafez Assad are partly cut off from a painting; in their place, “The Freedom” is scribbled in Arabic.

      Haidar Haidar, who owns a sweets shop, said he was touched that new security force members gave him water and dates while he was out when a call to prayer signaled that those fasting can eat and drink.

      “We never saw such things here,” he said, adding that he used to recite Quranic verses for protection before passing through Assad's checkpoints.

      He said his business was doing well this Ramadan and ingredients have become more available.

      Still, challenges — economic, geopolitical and otherwise — abound.

      Many dream of a new Syria, but exactly how that would look remains uncertain.

      “The situation is foggy,” said Damascus resident Wassim Bassimah. “Of course, there's great joy that we've gotten rid of the cancer we had, but there's also a lot of wariness.” Syrians, he added, must be mindful to protect their country from sliding back into civil war and should maintain a dialogue that is inclusive of all.

      “The external enemies are still there,” he said. “So are the enemies from within.” The war's scars are inescapable.

      Just outside of Damascus, death and destruction are seared into some landscapes littered with pockmarked and ruined structures. Many Syrians grieve the missing and killed; many families have been divided by the exodus of millions as refugees.

      Ramadan typically sees festive gatherings with loved ones to break the daily fast. Some Syrians huddle around food and juices at restaurants or throng to Ramadan tents to break their fast and smoke waterpipes as they listen to songs.

      But this month's violence in Syria's coastal region has stoked fears among some.

      The bloodshed began after reports of attacks by Assad loyalists on government security forces. Human rights and monitoring groups reported revenge killings in the counteroffensive, which they said saw the involvement of multiple groups.

      According to them, hundreds of civilians, or more, were killed; figures couldn't be independently confirmed.

      The Syrian Observatory for Human Rights said most of the killed civilians were Alawites in addition to a number of armed Alawites and security forces. Syrian authorities have formed a committee tasked with investigating the violence.

      Even before the bloodshed, while many celebrated the new government, others questioned what the ascent of the former insurgent forces would mean for freedoms, including of minorities and of those in the majority who are secular-minded or adhere to less conservative interpretations of Islam. The new authorities have made assurances about pluralism.

      Sheikh Adham al-khatib, a representative of Twelver Shiites in Syria, said many from the Shiite minority felt scared after Assad's ouster and some fled the country.

      Some later returned, encouraged by a relative calm and the new authorities' reassurances, he said, but the recent violence and some “individual transgressions" have rekindled fears.

      As the violence unfolded earlier this month, crowds gathered in Damascus.

      Some rallied to support security forces. Others, like Malak al Shanawani, participated in a different gathering, against the killing of the security forces and civilians. The bloodshed brought tears to her eyes.

      “It's nightmarish,” said the feminist and political activist. “It's one of the worst moments.” Under Assad, al Shanawani was arrested more than once. Among those killed in the violence, she said, were three brothers of an Alawite friend who was also arrested under Assad.

      “When we used to hear that the Alawites would get slaughtered, we'd say: No, we can protect you; we wouldn't allow this to happen,'” said al Shanawani, who's from the Sunni community. “But it has happened.” At the silent vigil, activists raised signs that called for de-escalation and denounced “sectarian incitement.” One read: “Neither religion, nor sect will divide us.” Another declared: “The Syrian revolution doesn't accept injustice.” But the gathering quickly deteriorated into shouting and shoving matches as some on the street appeared provoked by it.

      One man angrily asked participants where they were when it was the Sunnis who were suffering. Another furiously ripped a sign. A third insulted Alawites.

      Here and there, some attempted to discuss, to find common ground. Occasionally, people who started off arguing would agree on something and join each other in chants.

      “One. One. One,” they yelled. “The Syrian people are one.” As the chaos and friction continued, however, gunshots were fired into the air to disperse the crowds. (AP) PY PY

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