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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
    Show AI Summary
    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
    Show AI Summary
    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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      From Kajol & Sara Ali Khan to Vedang Raina & Veer Paharia: Celebrities agree that, Wellness is the New Luxe

      April 22, 2025

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      GlobalSpa Awards, the most euphoric and elite event in the wellness calendar, took place in Mumbai recently. The event brought together key leaders from the spa, wellness, and hospitality industry. The evening also welcomed renowned celebrities from Bollywood, Television & Fashion, adding a touch of glamour and popularity. Now in its seventh edition, the primary goal of the GlobalSpa Awards is to champion exceptional standards and foster a deeper connection between spa aficionados and top-tier wellness establishments.

      “At the GlobalSpa Awards, our mission is to recognize and celebrate the individuals and organizations who relentlessly strive to elevate the standards of wellness. These awards stand as a tribute to their passion, dedication, and innovation,” said Parineeta Sethi, Chief Editor of GlobalSpa India & Middle East.

      Hosted by the gorgeous Sophie Choudry and comedian Nitinn Miranni, this year's extravagant gathering welcomed a-lister celebrities, like Rekha, Kajol, Sara Ali Khan, Vedang Raina, Malaika Arora, Rakul Preet Singh, Sonali Bendre, Nitanshi Goel, Avinash Tiwari, Pratibha Ranta, Veer Paharia, Jasmin Bhasin, and many others. Their presence on the red carpet added an exceptional sparkle to the event.

      These luminaries not only added glitz and glamour, but they also played roles as presenters and recipients of awards across various categories, encompassing the best destination spa, best salon, best beauty brand, best hotel spa, and more. This year's event raised the bar with expanded choices, innovative technology, sustainability & conservation wellness initiatives, and a commitment to inclusivity, highlighting the importance of self-care while featuring renowned celebrities.

      The evening also witnessed the unveiling of the latest cover of GlobalSpa with Sara Ali Khan shot by Rohan Shrestha at the scenic Interlaken, Switzerland.

      Partnering brands shared their experience of a successful collaboration with the GlobalSpa Awards 2025.

      This year, Samira Habitats was the Presenting Partner for GlobalSpa Awards. With three decades of leading Alibag's Real Estate story, Samira's Signature, New World Livingscapes and Land Holds blend expanded lifestyles with nature, slower living, and wellbeing. Their vision aligns seamlessly with GlobalSpa’s ethos of promoting holistic, luxe wellness, as a way of life.

      Mr Samir A. Nerurkar, Founder & M.D. - Samira Habitats reiterates,” Wellness is truly the new luxe”. Samira Habitats, aligns naturally, with the emerging, new world community, who choose life in harmony with nature, sustainability and expansion, in our large, pristine acreages and bay side-living opportunities, in Alibag. A vision, so perfectly synched with GlobalSpa's uber luxe universe of wellness conscious and sustainable lifestyle.

      Luxury Destination Partner, Austria Tourism with the mountains, springs and healing therapies, Austria has a deep-rooted spa and wellness tradition—think thermal baths, alpine health resorts, and medical wellness clinics and GlobalSpa Awards is an apt platform to partner.

      Congratulating the team on the memorable event, Christine MukherjI, Country Head, Austria National Tourism Office, said, “Austria has long been a sanctuary for wellness, from our Alpine retreats to our world-class thermal spas. Partnering with the GlobalSpa Awards allows us to share our unique wellness culture with a global audience that values health, sustainability, and holistic experiences. It’s a natural alignment that celebrates wellbeing.

      Heidi Grimwood, Sr. Vice President ELE|NA, said “It was a vibrant celebration—from impeccable organisation to a dazzling guest list—that radiated purpose and passion. As a beacon of excellence in conscious living and sustainable wellness, the event beautifully echoed the values we uphold at ELE|NA. It left a lasting impression on everyone who shared in this extraordinary experience.

      “As the Audit & Knowledge Partner for this year’s awards, our role was to develop a process that was fair, subjective, transparent & inclusive. The enthusiastic response in the form of nominations received this year was nothing short of palpable”, says Monish G Chatrath, Managing Partner, MGC Global Risk Advisory.

      Bubble Communication managed the Media & Influencer duties for the event.

      GlobalSpa Awards 2025: The Complete List of Winners Best Resort Spa North • The Westin Resort and Spa, Himalayas • Ananta Spa & Resort, Pushkar East • MAYFAIR Spa Resort, Gangtok West • Alila Diwa Goa South • The Tamara Coorg Spa Manager of the Year • Agatha B. Marak - The Westin Resort and Spa Himalayas • Dr Avantika Kochar - Ksema, Mulberry Shades Bengaluru Nandi Hills Best Destination Spa • Atmantan Wellness Centre, Mulshi • ITC Grand Bharat Most Luxurious Spa Resort • Niraamaya Retreats Surya Samudra, Kovalam • Raffles Udaipur Most Luxurious Spa Hotel • Park Hyatt Chennai • Hyatt Regency Dehradun Resort and Spa Best Hotel Spa North • Andaz Delhi by Hyatt South • Shangri-La Bengaluru West • Spa by L'Occitane - JW Marriott Vagator Goa East • The Park Kolkata Best Spa Product - Anti Ageing (Global) • Dermalogica Best Spa Product (Global) • Thalgo Most Luxurious Spa Treatment • Signature Spa by JW - JW Marriott New Delhi Aerocity • Heavenly Signature Massage - The Westin Goa Most Environmentally Inclined Spa (Hotel & Resort) • CGH Earth – SwaSwara Best Wellness Cuisine • Aujasya by The Leela • Pema Wellness Resort Best Ayurvedic Wellness Spa • The LaLiT Resort & Spa Bekal Best Ayurvedic Wellness Retreat • Dharana at Shillim Best Holistic Wellness Retreat • Six Senses Vana • Carnoustie Ayurveda & Wellness Resort Best Day Spa Hotel • Radisson Blu Plaza Delhi Airport • Sofitel Mumbai Best New Day Spa • Florian Hurel Hair Couture & Spa Best Spa Interiors (Day) • SORIN Spa Therapist of the Year • Ms N Vini Achumi - Kaya Kalp The Royal Spa, ITC Mughal • Apokla Tsazito Sangtam - Pullman New Delhi Aerocity Best New Resort Spa • Timbertales - Luxury Resort Coorg • MAYFAIR Spring Valley Resort, Guwahati Best New Hotel Spa • Raffles Jaipur Best Spa Interiors (Hotel & Resort) • JW Marriott Bengaluru Prestige Golfshire Resort & Spa Best Spa Product - Anti Ageing Line (India) • RAS Luxury Oils Best Spa Product - Natural Line • Serenité Best Indian Spa Product • Shankara Most Luxurious Spa Day (Hotel) • Cinqtuair Spa - The Claridges New Delhi Most Luxurious Spa Day (Standalone) • Sawadhee Traditional Thai Spa • J Wellness Circle - Lodha World Tower Best Salon With Spa • Jean-Claude Biguine Salon & Spa • JW Marriott Hotel Bengaluru Best Day Spa Chain • IOSIS Wellness READERS’ CHOICE Favourite Destination - MIDDLE EAST • Jordan Favourite Emerging Destination • AlUla, Saudi Arabia Favourite Destination – EUROPE • Austria Favourite Destination – AFRICA • Seychelles Favourite Destination – ASIA • Maldives Favourite Destination – USA • California Favourite Destination – OCEANIA • Fiji Favourite Destination – INDIA • Goa Favourite Airport Spa • ENCALM Spa Favourite Spa Brand – GLOBAL • ELENA The Spa Favourite Spa Resort – GLOBAL • JOALI BEING Favourite Spa Hotel – GLOBAL • Brenners Park-Hotel & Spa, Baden-Baden Medical Wellness Retreat - GLOBAL • SHA Wellness Clinic Favourite Holistic Wellness Retreat - GLOBAL • Santani Wellness, Sri Lanka Medical Wellness Retreat - INDIA • Amal Tamara Favourite Eco Spa – GLOBAL • Soneva Soul at Soneva, Maldives Favourite Honeymoon Resort & Spa of the Year – INDIA • The Leela Palace Udaipur Favourite Honeymoon Resort & Spa of the Year – GLOBAL • Qasr Al Sarab Desert Resort by Anantara • LUX South Ari Atoll, Maldives Favourite Spa Resort – INDIA • Ananda In The Himalayas Favourite Salon – HOTEL • Silhouette Salon & The Barbershop Favourite Salon – STANDALONE • LOOKS Salon Favourite Organic Brand • Forest Essentials Favourite Sustainable Destination • Bhutan Favourite Spa Hotel – INDIA • The Westin Gurgaon Best Product Range - Sunscreens • CHOSEN By Dermatology Best New Product Range – INDIA • Spiceology Brand Founder Of The Year • Deepali Bansal and Puneet Bansal – Suroskie Homegrown Beauty Brand • Love Organically EDITORS’ CHOICE AWARDS Innovation In Wellness • Tulah Clinical Wellness Luxury Wilderness Wellness • Siddhayu Wellness x The Bamboo Forest Best Naturopathy Wellness Resort, India • Pema Wellness Resort CELEBRITY AWARDS GlobalSpa Icon of Holistic Wellness – Deanne Panday GlobalSpa Evergreen Diva – Kajol GlobalSpa Rising Star – MALE – Vedang Raina GlobalSpa Rising Star – FEMALE – Pratibha Ranta GlobalSpa Most Loved Gen Z Icon – Nitanshi Goel GlobalSpa Inspirational Icon – Sonali Bendre GlobalSpa Most Versatile Performance of the Year – Avinash Tiwary GlobalSpa Wellness Trailblazer – Rakul Preet Singh GlobalSpa Emerging Face of The Year – Veer Pahariya GlobalSpa Wellness Entrepreneur – Malaika Arora GlobalSpa Icon of Wellness – Sara Ali Khan GlobalSpa Charismatic Personality Female – Jasmine Bhasin GlobalSpa Charismatic Personality Male – Taha Shah Badussha GlobalSpa Style Icon – Sophie Choudry (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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