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    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
    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
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    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    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
    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
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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
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Global Health Innovators recognised with Abu Dhabi Global Health Week Innovation Awards for transformative impact

      April 16, 2025

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      • Winners of the ADGHW Innovation Awards 2025 addressed prenatal gene editing, robotic organ transplantation, precision drug delivery, and novel pain treatments • Recipients include the Children's Hospital of Philadelphia, University of Pennsylvania, King Faisal Specialist Hospital & Research Centre, BioSapien Inc., and Nobel Laureate Ardem Patapoutian • The diverse range of applicants underscore the pivotal role in encouraging international collaboration and demonstrates Abu Dhabi's commitment to nurturing a thriving ecosystem to redefine global health ABU DHABI, UAE, April 16, 2025 /PRNewswire/ -- Abu Dhabi Global Health Week (ADGHW) today honoured exceptional individuals and institutions from around the world whose innovative contributions are advancing the future of health. Winners of the ADGHW Innovation Awards 2025 were recognised for pioneering solutions in digital health, biotechnology, and diagnostics, receiving global recognition and a share of the $200,000 prize fund.

      With a total of 91 submissions received from global and local individuals and institutions, the ADGHW Innovation Awards, sponsored by e& and PureHealth, welcomed entries that address critical health challenges across digital health, pharmaceutical and biotechnology innovations, and medical devices and diagnostics. Winners were selected following a rigorous review process led by a distinguished panel of global health experts, policymakers, and technology leaders.

      ADGHW Innovation Awards recipients include: • The Individual Category was awarded to the Nobel Laureate in Physiology or Medicine, Dr. Ardem Patapoutian from the Scripps Research Institute for discovering novel molecular targets involved in pain perception. His work is unlocking new therapeutic pathways to treat chronic and neuropathic pain, significantly advancing personalised medicine and neuroscience.

      • Runners-up for this category include Hesham A. Abdullah from GlaxoSmithKline (GSK) recognised for his impactful oncology research and contributions to healthcare innovation in the region; and Kourosh Lotfi from Sheikh Shakhbout Medical City for advancing 3D bioprinting technologies for personalised regenerative medicine.

      • The Global Institute Category was jointly awarded to the Children's Hospital of Philadelphia for development of prenatal therapeutic gene editing technologies and the University of Pennsylvania for its pioneering work in mRNA platform technology, the foundation of several next-generation vaccines.

      • Runners-up for this category include Children's National Hospital for its StrepApp, an artificial intelligence (AI)-driven diagnostic tool enhancing the accuracy and efficiency of paediatric care; Eli Lilly and Company for revolutionising obesity care through the first dual GIP/GLP-1 treatment, redefining approaches to metabolic diseases; and Neo Q Quality in Imaging GmbH for RadioReport Automatic AI, transforming radiology reporting through automation and precision.

      • The Regional Institute Category was awarded to the King Faisal Specialist Hospital & Research Centre for revolutionising organ transplantation through robotic-assisted surgery. The hospital's innovative use of robotics enhances surgical precision, reduces recovery time, and sets a new benchmark for transplant care in the Middle East and beyond.

      • Runners-up for this category include amplifai health for its AI-based thermal camera to screen diabetic foot ulcers, enabling early detection and proactive care to reduce complications; Proteinea for its AI-enabled Protein Engineering Platform designed to accelerate next-generation biotherapeutic development; and Pioneera Biosciences for BestCAR, an allogeneic CAR-NK cell therapy leveraging mRNA-LNP technology to target CD19 in haematologic malignancies.

      • The Local Institute Category was awarded to BioSapien Inc. for its MediChip, a novel drug delivery platform that localises treatment to targeted areas, reducing systemic side effects and enhancing efficacy. The technology represents a significant leap forward in precision therapeutics and patient-centric care.

      • Runners-up for this category include New York University Abu Dhabi for LAMINATE MS, an advanced neuroimaging platform to improve diagnosis and treatment of multiple sclerosis; Sheikh Shakhbout Medical City for CHESS-Osteoporosis, a multi-centre validation trial driving innovation in bone health screening; EpiBone, Ltd. for its AI-powered living skeletal implants, redefining bone repair and personalised orthopaedic care; and Sheikh Shakhbout Medical City for advancing haematological diagnostics, enhancing AI models through multimodal data integration and clinical validation.

      The award ceremony commenced with opening remarks by H.E. Dr. Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health – Abu Dhabi, who underscored the award's pivotal role in recognising excellence, fostering innovation, and accelerating progress across the healthcare sector. The event brought together senior government officials, healthcare leaders, and industry partners, including H.E. Dr. Jaleela bint Al-Sayed Jawad Hasan, Minister of Health of the Kingdom of Bahrain; H.E. Dr. Mikheil Sarjveladze, Minister of Internally Displaced Persons from the Occupied Territories, Labour, Health and Social Affairs of Georgia; Shaista Asif, Group Chief Executive Officer of PureHealth; Dr. Patrick Horber, President, International of Novartis; and Jacob Thaysen, Chief Executive Officer of Illumina.

      Commenting on the winners' announcement, H.E. Dr. Noura Khamis Al Ghaithi, Undersecretary of DoH, said: "We are delighted to honour these trailblazers from around the world. Their achievements show how powerful innovation can be in changing the global health landscape and highlight what's possible when we work together. By celebrating these breakthroughs, we're not only recognising what's been accomplished today, we are also paving the way for a healthier tomorrow for all, where everyone enjoys well-being and a long, healthy life." Submissions were evaluated based on originality, impact, scalability, and sustainability. The rigorous assessment process was overseen by a panel of esteemed experts in healthcare, digital health, and public policy including Dr. Asma Ibrahim Al Mannaei, Executive Director of the Health Life Sciences Sector at DoH; Professor Shafi Ahmed, multi-award-winning surgeon, teacher, futurist, innovator and entrepreneur; John Nosta, president of NostaLab, Lina Shadid, Middle East Health Industries Lead and Zubin Daruwalla, Asia Pacific Health Industries Lead at PwC.

      "The ADGHW Innovation Awards exemplify the transformative power of collaboration and innovation in addressing global health challenges with creativity, rigour, and purpose. The diversity and ingenuity of the application submissions highlight Abu Dhabi's role in boosting an ecosystem that drives advancements in healthcare. At PwC, we are proud to support this initiative and contribute to shaping a future where innovation is both encouraged and celebrated," stated Lina Shadid, Middle East Health Industries Lead at PwC.

      The diverse group of applicants underscores ADGHW's pivotal role in enhancing international collaboration and demonstrates Abu Dhabi's commitment to nurturing a thriving ecosystem that drives advancement of the global health sector.

      In a first for the awards, an AI assistant was also integrated into the review process, supporting the jury by surfacing patterns, providing comparative insights, and complementing human expertise during deliberations. This hybrid model reflects ADGHW's commitment to harnessing the potential of emerging technologies to drive fairness, transparency, and efficiency in the evaluation of innovative ideas.

      ADGHW is a major government initiative from DoH and serves as a platform for innovation and collaboration under the theme 'Towards Longevity: Redefining Health and Well-being.' It places a strong emphasis on community-driven health and well-being, with a proactive approach centred around preventive, personalised, and holistic care.

      Four core themes will guide discussions and initiatives: Longevity and Precision Health; Health System Resilience & Sustainability; Digital Health & AI; and Investment in Life Sciences. By convening diverse stakeholders from around the world, ADGHW is a community without borders that seeks to advance the future of health and well-being.

      About Abu Dhabi Global Health Week: Abu Dhabi Global Health Week (ADGHW) is a major government-led initiative by the Department of Health – Abu Dhabi (DoH). It drives transformative innovation and collaboration under the theme 'Towards Longevity: Redefining Health and Well-being'. ADGHW serves as a year-round 'always-on' platform with a proactive approach centred around preventive, personalised, and holistic care. Held with and for the world, ADGHW is a platform for open, inclusive exchange, and joint action.

      ADGHW welcomes entrepreneurs, policymakers, researchers, innovators, and investors to transform ideas into action, and collaborate around topics like advancing precision care and building a resilient technology-driven ecosystem. ADGHW 2025 proudly collaborates with key strategic partners, including Foundation Partner, M42 and Global Health and Longevity Champion, PureHealth. Additional exhibitors and sponsors include Burjeel, GSK, Johnson & Johnson, Lilly, Microsoft, Novo Nordisk, Viatris, Novartis, Roche, Cleveland Clinic Abu Dhabi, Deloitte, Gilead, Juvenescence, NYU Abu Dhabi and Pfizer, united in their commitment to advancing the future of healthcare and life sciences.

      For more information on ADGHW, visit https://www.adghw.com/ For media registration visit, https://www.adghw.com/forms/media-registration/ For media inquiries or interview opportunities, please contact: Maroun Farah , Senior Media Relations Manager, Weber Shandwick E: [email protected] T: +971 55 166 2557 About the Department of Health – Abu Dhabi (DoH): The Department of Health – Abu Dhabi is the regulative body of the healthcare sector in the Emirate of Abu Dhabi. Committed to ensuring excellence in healthcare, DoH monitors the health status of the population while shaping the regulatory framework for the health system. This includes inspecting against regulations, enforcing standards and encouraging the adoption of world-class best practices and performance targets by all healthcare providers in the Emirate. Abu Dhabi remains dedicated to shaping the future of healthcare by establishing an intelligent and sustainable ecosystem that prioritises health, longevity and quality of life for all community members. Leveraging state-of-the-art infrastructure and cutting-edge capabilities, DoH continues to develop and implement initiatives and programmes in line with its strategic focus areas, Healthy Population, Best-in-Class Care and Resilience and Innovation. These efforts reflect DoH's unwavering commitment to predicting, preventing and personalising healthcare for every individual.

      For further information on DOH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.

      For media inquiries, please contact: Mariam Al Marzooqi E: [email protected] T: +971 50 536 6660 Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Photo - Embedded Media Logo - Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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