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    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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    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
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    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
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    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    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
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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.

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      Countries shore up their digital defences as global tensions raise threat of cyberwarfare

      April 20, 2025

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      Washington, Apr 20 (AP) Hackers linked to Russia's government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant in Muleshoe, population 5,000, water began to overflow. Officials had to unplug the system and run the plant manually.

      The hackers weren't trying to taint the water supply. They didn't ask for a ransom. Authorities determined the intrusion was designed to test the vulnerabilities of America's public infrastructure. It was also a warning: In the 21st century, it takes more than oceans and an army to keep the United States safe.

      A year later, countries around the world are preparing for greater digital conflict as increasing global tensions and a looming trade war have raised the stakes — and the chances that a cyberattack could cause significant economic damage, disrupt vital public systems, reveal sensitive business or government secrets, or even escalate into military confrontation.

      The confluence of events has national security and cyber experts warning of heightened cyberthreats and a growing digital arms race as countries look to defend themselves.

      At the same time, President Donald Trump has upended America's digital defences by firing the four-star general who led the National Security Agency, shrinking cybersecurity agencies and slashing election cybersecurity initiatives.

      Businesses now are increasingly concerned about cyberattacks, and governments have moved to a war footing, according to a report this month by NCC Group, a British cybersecurity firm.

      “The geopolitical dust is still settling,” said Verona Johnstone-Hulse, a London-based expert on government cybersecurity polices and the report's co-author. “What the new normal looks like is still not yet set.” Many in the US are already calling for a more muscular approach to protecting the digital frontier.

      “Hybrid war is here to stay,” said Tom Kellermann, senior vice president of cyberstrategy at Contrast Security. “We need to stop playing defense — it's time to make them play defence.” Digital life means more targets for hackers Vulnerabilities have grown as people and businesses use connected devices to count steps, manage finances and operate facilities such as water plants and ports. Each network and connection is a potential target for foreign governments or the hacking groups that sometimes do their bidding.

      Espionage is one motive, demonstrated in a recent incursion linked to hackers in China. The campaign known as Salt Typhoon sought to crack the phones of officials, including Trump, before the 2024 election.

      These operations seek entry to sensitive corporate or government systems to steal secrets or monitor personal communications.

      Such information can be hugely valuable by providing advantages in trade negotiations or military planning. These hackers try to remain hidden for as long as possible.

      More obvious intrusions can serve as a warning or deterrent, such as the cyberattacks targeting the Texas water plants. Iran also has shown a willingness to use cyberattacks to make political points.

      The cyberattacks that frighten experts the most burrow deeply into telephone or computer networks, inserting backdoors or malware for later use.

      National security experts say this was the motivation behind a recent attack from China called Volt Typhoon that compromised telephone networks in the US in an effort to gain access to an unknown number of critical systems.

      China could potentially use these connections to disable key infrastructure — power plants, communication networks, pipelines, hospitals, financial systems — as part of a larger conflict or before an invasion of Taiwan, national security experts said.

      “They can position their implants to be activated at a date and time in the future,” said Sonu Shankar, a former researcher at Los Alamos National Laboratory who is now chief strategy officer at Phosphorus Cybersecurity.

      National security officials will not discuss details, but experts interviewed by The Associated Press said the US no doubt has developed similar offensive capabilities.

      China has rejected US allegations of hacking, accusing America of trying to “smear” Beijing while conducting its own cyberattacks.

      Global tensions tick up Wars in Ukraine and the Middle East. Trade disputes. Shifting alliances. The risk of cyberattacks goes up in times of global tension, and experts say that risk is now at a high.

      US adversaries China, Russia, Iran and North Korea also have shown signs of cybercooperation as they forge tighter economic, military and political relationships.

      Speaking to Congress, Director of National Intelligence Tulsi Gabbard noted that Iran has supplied drones in exchange for Russian intelligence and cybercapabilities.

      “Russia has been the catalyst for much of this expanded cooperation, driven heavily by the support it has needed for its war effort against Ukraine,” Gabbard told lawmakers.

      Amid global fears of a trade war after the tariffs that Trump has imposed, supply chains could be targeted in retaliation.

      While larger companies may have a robust cyberteam, small suppliers that lack those resources can give intruders easy access.

      And any tit-for-tat cycles of cyberconflict, in which one country hacks into a sensitive system as retaliation for an earlier attack, come with “great risk” for all involved, Shankar said. “It would put them on the path to military conflict." The Trump effect At a time when national security and cybersecurity experts say the US should be bolstering its defences, Trump has called for reductions in staffing and other changes to the agencies that protect American interests in cyberspace.

      For example, Trump recently fired Gen. Timothy Haugh, who oversaw the NSA and the Pentagon's Cyber Command.

      The US faces “unprecedented cyber threats”, said Virginia Sen. Mark Warner, the top Democrat on the Senate Intelligence Committee. He has asked the White House to explain Haugh's departure. “How does firing him make Americans any safer?" Warner said.

      Also under Trump, the US Cybersecurity and Infrastructure Security Agency placed on leave staffers who worked on election security and cut millions of dollars in funding for cybersecurity programmes for local and state elections.

      His administration eliminated the State Department's Global Engagement Centre, which tracked and exposed foreign disinformation online.

      The CIA, NSA and other intelligence agencies also have seen reductions in staffing.

      The administration faced more questions over how seriously it takes cybersecurity after senior officials used the popular messaging app Signal to discuss sensitive information about upcoming military strikes in Yemen. Gabbard later called the episode a mistake.

      The officials in charge of America's cybersecurity insist Trump's changes will make the US safer, while getting rid of wasteful spending and confusing regulations.

      The Pentagon, for instance, has invested in efforts to harness artificial intelligence to improve cyber-defences, according to a report provided to Congress by Lt. Gen. William J. Hartman, acting commander of the NSA and Cyber Command.

      The changes at the Cybersecurity and Infrastructure Security Agency come as its leaders consider how best to execute their mission in alignment with the administration's priorities, a CISA statement said.

      “As America's Cyber Defence Agency, we remain steadfast in our mission to safeguard the nation's critical infrastructure against all cyber and physical threats,” the statement read.

      "We will continue to collaborate with our partners across government, industry, and with international allies to strengthen global cybersecurity efforts and protect the American people from foreign adversaries, cybercriminals, and other emerging threats.” Representatives for Gabbard's office and the NSA didn't respond to questions about how Trump's changes will affect cybersecurity.

      Signs of progress? Despite shifting alliances, a growing consensus about cyberthreats could prompt greater global cooperation.

      More than 20 nations recently signed on to an international framework on the use of commercial spyware. The US has signalled it will join the non-binding agreement.

      There's also broad bipartisan agreement in the US about the need to help private industry bolster defences.

      Federal estimates say the cybersecurity industry needs to hire an additional 500,000 professionals to meet the challenge, said Dean Gefen, former chief of cybertraining for Israel's Defence Intelligence Technological Unit. He's now the CEO of NukuDo, a cybersecurity training company.

      “Companies need effective guidance from the government — a playbook," Gefen said. “What to do, what not to do.” (AP) PY PY

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