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    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    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
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    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
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    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
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    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
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    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    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.
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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.
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    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.

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      Cross-border links to Pahalgam attack: India downgrades diplomatic ties with Pak; Sketches of 3 terror suspects released

      April 24, 2025

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      New Delhi/Srinagar, Apr 23 (PTI) Underscoring the "cross-border linkages" of the Pahalgam terror attack, India on Wednesday downgraded diplomatic ties with Pakistan as it announced five major measures that also included suspension of the Indus Water Treaty and expulsion of Pakistani military attaches.

      As India turned up the heat on Pakistan with what is seen as retaliatory measures after the carnage in Jammu and Kashmir on Tuesday that left 26 people, mostly tourists, dead, Defence Minister Rajnath Singh also vowed a "strong response" in the "near future." Immediate shutting down of the Attari land-transit post was among the measures announced after a meeting of the Cabinet Committee on Security(CCS).

      India will not only hunt down the people who perpetrated the attack but will also trace those "sitting behind the scenes" who had conspired to carry out the massacre on the Indian soil, a sombre-looking Singh said at a public event in Delhi.

      The CCS met this evening under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the brazen attack which has evoked worldwide condemnation.

      The CCS was given a briefing on the incident including the "cross-border linkages" of the terrorist attack, Foreign Secretary Vikram Misri told a late evening press briefing.

      "It was noted that this attack came in the wake of the successful holding of elections in the Union Territory (Jammu and Kashmir) and its steady progress towards economic growth and development," he said.

      "It(the CCS) resolved that the perpetrators of the attack will be brought to justice and their sponsors held to account." Security agencies also released sketches of three Pakistani terrorists as a grim Centre took stock of the situation and anguished families bid adieu to the men they had loved and lost. The Resistance Front (TRF), a shadow outfit of the banned Pakistan-based terror outfit Lashkar-e-Taiba (LeT) has claimed responsibility for the attack.

      Officials said that initial investigations into the carnage also indicated that the number of terrorists involved could be between five and seven, aided by at least two local militants who received training in Pakistan, officials said.

      The CCS also decided to close the Integrated Check Post at Attari with immediate effect, Misri said. Attari is the main border crossing checkpost.

      It is learnt that the CCS meeting held at the prime minister's 7, Lok Nayak Marg residence lasted for around two-and-a-half hours.

      Besides the prime minister, Home Minister Amit Shah, Defence Minister Singh and External Affairs Minister S Jaishankar were present at the meeting, along with National Security Adviser Ajit Doval and senior bureaucrats.

      Shah briefed the prime minister on the attack and discussed the measures to be taken in its aftermath.

      At the media briefing, Misri said Pakistani nationals will not be permitted to travel to India under the SAARC Visa Exemption Scheme (SVES) and any such visas issued in the past to Pakistani nationals are deemed cancelled.

      The CCS decided that the Indus Waters Treaty of 1960 will be held in abeyance with immediate effect, until Pakistan credibly and irrevocably abjures its support for cross-border terrorism, he said.

      On closing of the Attari post, Misri said those who have crossed over with valid endorsements may return through that route before May 1.

      Misri said, "The defence, military, naval and air Advisors in the Pakistani High Commission in New Delhi are declared Persona Non Grata." They have a week to leave India, he added.

      India will be withdrawing its own defence, navy and air advisors from the Indian High Commission in Islamabad, he said.

      "These posts in the respective High Commissions are deemed annulled. Five support staff of the Service Advisors will also be withdrawn from both High Commissions." "The overall strength of the High Commissions will be brought down to 30 from the present 55 through further reductions, to be effected by May 1." Misri said the CCS reviewed the overall security situation and directed all forces to maintain high vigil.

      "As with the recent extradition of Tahawwur Rana, India will be unrelenting in the pursuit of those who have committed acts of terror, or conspired to make them possible," he said.

      Prime Minister Modi, who cut short his visit to Saudi Arabia, met Jaishankar and Doval in the morning at the airport itself.

      Rajnath Singh also reviewed the security situation in Jammu and Kashmir with Chief of Defence Staff Gen Anil Chauhan, the three service chiefs, defence secretary and the director general of military operations.

      It is learnt that Singh directed the armed forces to enhance their combat readiness and increase intensity of anti-terror operations.

      It was a day of hushed silences, angry discussions and cries of despair as an entire nation mourned those killed in the brazen attack targeting holidayers in the scenic expanse of the Baisaran meadow, six kilometres from Pahalgam.

      Other ministers, including Amit Shah, also issued strong statements.

      Shah, who visited Baisaran, met the injured in hospital and chaired security review meetings, also signalled the intent of the government.

      "Bharat will not bow to terror. The culprits of this dastardly terror attack will not be spared," he said reflecting the government’s resolve in the face of the deadliest terror attack since the Pulwama strike and the abrogation of Article 370 in 2019.

      "Those behind the Pahalgam atrocity will face severe consequences." Giving a face to the terrorists behind the massacre, security agencies released the sketches of three of the five men suspected to be involved in the terror attack. They are all Pakistanis, officials said, identifying them as Asif Fauji, Suleman Shah and Abu Talha.

      They had code names -- Moosa, Yunus and Asif -- and were involved in terror-related incidents in Poonch.

      Prepared with the help of survivors, the pencil sketches were in black and white. From the line drawings, they appear to be young and have beards.

      As the top government brass met in Delhi and Srinagar to assess the security implications and strategise on what lies ahead, the families and friends of the 26 men, mostly tourists holidaying in Kashmir, dealt with their individual, very personal tragedies.

      A wave of protests also swept Jammu and Kashmir and other states against the Pahalgam strike, with political parties as well as religious and social organisations asserting that such acts were against Islamic teachings and calling for unity in the face of the challenge posed by terrorists and their backers.

      And in ground zero, Kashmiris sent out a clear message - Not In My Name.

      Srinagar city and other parts of Kashmir shut down, the first time since Article 370 was abrogated and the state was downgraded into a union territory in August 2019.

      The spate of cancelled tourist bookings and the rush to leave Kashmir also indicated the uncertainty of the months to come.

      While the Jammu and Kashmir government condemned the "senseless" killing of 26 people and sanctioned an ex-gratia of Rs 10 lakh to the next of kin of each deceased victim, the J-K police announced Rs 20 lakh bounty for information on terrorists involved in the attack.

      Official sources in Delhi said the Centre will be convening an all-party meeting on Thursday in the wake of the terror attack. Defence Minister Singh is likely to chair it, they said. PTI TEAM MPB SKL MIN RT GSN GSN

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