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    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    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
    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
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    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    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.
    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
    Show AI Summary
    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
    Show AI Summary
    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
    Show AI Summary
    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.

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      Long, fraught timeline of tensions between Iran, US as nuclear negotiators to meet again

      April 19, 2025

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      Washington, Apr 19 (AP) Iran and the United States will hold a second round of talks in Rome on Saturday over Tehran's rapidly advancing nuclear programme.

      The talks represent a milestone in the fraught relations between the two nations over Iran's programme, which is enriching uranium close to weapons-grade levels.

      Here's a timeline of the tensions between the two countries over Iran's atomic programme.

      Early days 1967 — Iran takes possession of its Tehran Research Reactor under America's “Atoms for Peace” programme.

      1979 — Shah Mohammad Reza Pahlavi, fatally ill, flees Iran as popular protests against him surge. Ayatollah Ruhollah Khomeini returns to Tehran and the Islamic Revolution sweeps him to power.

      Students seize the United States Embassy in Tehran, beginning the 444-day hostage crisis. Iran's nuclear program goes fallow under international pressure.

      August 2002 — Western intelligence services and an Iranian opposition group reveal Iran's secret Natanz nuclear enrichment facility.

      June 2003 — Britain, France and Germany engage Iran in nuclear negotiations.

      October 2003 — Iran suspends uranium enrichment.

      February 2006 — Iran announces it will restart uranium enrichment following the election of hard-line president Mahmoud Ahmadinejad. Britain, France and Germany walk out of stalled negotiations.

      June 2009 — Iran's disputed presidential election sees Ahmadinejad re-elected despite fraud allegations, sparking Green Movement protests and violent government crackdown.

      October 2009 — Under President Barack Obama, the US and Iran open a secret backchannel for messages in the sultanate of Oman.

      July 2012 — US and Iranian officials hold face-to-face secret talks in Oman.

      July 14, 2015 — World powers and Iran announce a long-term, comprehensive nuclear agreement that limits Tehran's enrichment of uranium in exchange for the lifting of economic sanctions.

      The nuclear deal collapses May 2018 — Trump unilaterally withdraws the US from the nuclear agreement, calling it the “worst deal ever”.

      He says he'll get better terms in new negotiations to stop Iran's missile development and support for regional militias. Those talks don't happen in his first term.

      May 8, 2019 — Iran announces it will begin backing away from the accord. A series of regional attacks on land and at sea blamed on Tehran follow.

      January 3, 2020 — A US drone strike in Baghdad kills Gen. Qassem Soleimani, the architect of Tehran's proxy wars in the Middle East.

      January 8, 2020 — In retaliation for Soleimani's killing, Iran launches a barrage of missiles at military bases in Iraq that are home to thousands of American and Iraqi troops.

      More than 100 US service members suffer traumatic brain injuries. As Iran braces for a counterattack, the Revolutionary Guard shoots down a Ukrainian passenger plane shortly after takeoff from Tehran's international airport, reportedly mistaking it for a US cruise missile. All 176 people on board are killed.

      July 2020 — A mysterious explosion tears apart a centrifuge production plant at Iran's Natanz nuclear enrichment facility. Iran blames the attack on archenemy Israel.

      April 6, 2021 — Iran and the US under President Joe Biden begin indirect negotiations in Vienna over how to restore the nuclear deal. Those talks, and others between Tehran and European nations, fail to reach any agreement.

      April 11, 2021 — A second attack within a year targets Iran's Natanz nuclear site, again likely carried out by Israel.

      April 16, 2021 — Iran begins enriching uranium up to 60 per cent — its highest purity ever and a technical step from weapons-grade levels of 90 per cent.

      February 24, 2022 – Russia launches its full-scale invasion of Ukraine. Moscow ultimately will come to rely on Iranian bomb-carrying drones in the conflict, as well as missiles.

      July 17, 2022 — An adviser to Iran's supreme leader, Kamal Kharrazi, says that Iran is technically capable of making a nuclear bomb, but has not decided whether to build one. His remarks will be repeated by others in the coming years as tensions grow.

      Mideast wars rage October 7, 2023 — Hamas militants from the Gaza Strip storm into Israel, killing 1,200 people and taking 250 others hostage. This begins the most intense war ever between Israel and Hamas. Iran, which has armed Hamas, offers support to the militants. Regional tensions spike.

      November 19, 2023 — Yemen's Houthi rebels, long supported by Iran, seize the ship Galaxy Leader, beginning a monthslong campaign of attacks on shipping through the Red Sea corridor that the US Navy describes as the most intense combat it has seen since World War II. The attacks mirror tactics earlier used by Iran.

      April 14, 2024 — Iran launches an unprecedented direct attack on Israel, firing over 300 missiles and attack drones. Israel, working with a US-led international coalition, intercepts much of the incoming fire.

      April 19, 2024 — A suspected Israeli strike hits an air defense system by an airport in Isfahan, Iran.

      July 31, 2024 – Ismail Haniyeh, a Hamas leader, is assassinated apparently by Israel during a visit to Tehran after the inauguration of reformist President Masoud Pezeshkian.

      September 27, 2024 — Israeli airstrike kills Hezbollah leader Hassan Nasrallah.

      October 1, 2024 — Iran launches its second direct attack on Israel, though a US-led coalition and Israel shoot down most of the missiles.

      October 16, 2024 — Israel kills Hamas leader Yahya Sinwar in the Gaza Strip.

      October 26, 2024 — Israel openly attacks Iran for the first time, striking air defense systems and sites associated with its missile programme.

      Trump returns — and reaches out January 20, 2025 — Trump is inaugurated for his second term as president.

      February 7, 2025 – Iran's Supreme Leader Ayatollah Ali Khamenei says proposed talks with the US are “not intelligent, wise or honourable”.

      March 7, 2025 – Trump says he sent a letter to Khamenei seeking a new nuclear deal with Tehran.

      March 15, 2025 — Trump launches intense airstrikes targeting Houthi rebels in Yemen, the last members of Iran's self-described “Axis of Resistance” capable of daily attacks.

      April 7, 2025 — Trump announces the US and Iran will hold direct talks in Oman. Iran says they'll be indirect talks, but confirms the meeting.

      April 12, 2025 — First round of talks between Iran and the US take place in Oman, ending with a promise to hold more talks after US Mideast envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi “briefly spoke” together.

      April 17, 2025 — Next round of talks between the US and Iran are scheduled to be held in Rome. (AP) PY PY

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