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    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
    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
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    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    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.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.

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      Putin thanks North Korea for troop deployment to fight Ukraine, promises not to forget their sacrifices

      April 28, 2025

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      Seoul, Apr 28 (AP) Russian President Vladimir Putin thanked North Korea on Monday for fighting alongside his troops against Ukrainian forces and promised not to forget their sacrifices, hours after North Korea confirmed its deployment for the first time.

      The back-to-back Russian and North Korean statements -- which illustrate their expanding military partnerships -- came two days after Russia said its troops have fully reclaimed the Kursk region that Ukrainian forces seized in a surprise incursion last year.

      Ukrainian officials have denied the claim, insisting that the operation in certain areas of Kursk is continuing.

      In a statement posted on the website of the Kremlin, Putin praised North Korean soldiers who he said "shoulder to shoulder with Russian fighters, defended our Motherland as their own." “The Russian people will never forget the heroism of the DPRK special forces. We will always honour the heroes who gave their lives for Russia, for our common freedom, fighting side by side with their Russian brothers in arms,” Putin said, using the acronym for the North's official name.

      North Korea's first official confirmation of its troops involvement Earlier Monday, North Korea's Central Military Commission announced that leader Kim Jong Un had decided to send troops to Russia to “annihilate and wipe out the Ukrainian neo-Nazi occupiers and liberate the Kursk area in cooperation with the Russian armed forces.” The commission said North Korean troops eventually made “an important contribution” to Russia retrieving the border territory.

      It was North Korea's first official confirmation of its troops' deployment to Russia though it has repeatedly expressed its unwavering support of Russia's fighting against Ukraine. US, South Korean and Ukraine intelligence officials have said North Korea dispatched 10,000-12,000 troops to Russia last fall in its first participation in a major armed conflict since the 1950-53 Korean War.

      Both Putin and Kim said the North Korean deployment was made under a mutual defence treaty that they had signed in June 2024. The treaty — considered the two countries' biggest defense agreement since the end of the Cold War — requires both nations to use all available means to provide immediate military assistance if either is attacked.

      North Korea and Russia, locked in separate disputes with the US and its allies, have moved significantly closer to each other in recent years.

      Beside its dispatch of troops, North Korea has been supplying a vast amount of conventional weapons to Russia. South Korea and the US worry that Russia could reward North Korea by transferring high-tech weapons technologies that can enhance its nuclear weapons program as well as other military and economic assistance.

      Pyongyang wants military technologies from Russia Kim's underscoring of North Korea's role in the retaking of the Kursk region implies his urgent wish to get what he wants from Russia, namely its sensitive military technologies and a solid security commitment to North Korea, said Moon Seong Mook, an analyst for the Seoul-based Korea Research Institute for National Strategy.

      Kremlin spokesman Dmitry Peskov said Monday that Russia can provide unspecified military assistance to North Korea if necessary, in accordance with the defense treaty, according to Russian state media agencies.

      While Russia's claimed recapture of the Kursk region could deprive North Korea of legitimate grounds to maintain its troops in Russia, Moon said that North Korea won't likely pull out its troops from Russia anytime soon as the war is still going on. Moon said that North Korea could provide support to Russian forces in other regions in a different and covert manner.

      Kim Yeol Soo, an expert at South Korea's Korea Institute for Military Affairs, said North Korea also likely acknowledged its troops' dispatch because it couldn't hide it any longer and so determined to use it as a propaganda tool to boost internal unity. He said the North Korean announcement could also signal a prelude to Kim visiting Russia to attend ceremonies marking the May 9 Victory Day.

      Neither North Korea nor Russia said how many North Korean soldiers eventually came to Russia or how many casualties they suffered. But in March, South Korea's military assessed that around 4,000 North Korean soldiers had been killed or wounded in the Russia-Ukraine war fronts. The South Korean military also said at the time that North Korea sent about 3,000 additional troops to Russia earlier this year.

      Kim Jong Un said that a monument will soon be erected in Pyongyang to mark North Korea's battle feats and that flowers will be laid before the tombstones of the fallen soldiers. Kim said the government must take steps to preferentially treat and take care of the families of the soldiers who took part in the war.

      North Korean soldiers are highly disciplined and well trained, but observers say they've become easy targets for drone and artillery attacks on Russian-Ukraine battlefields due to their lack of combat experience and unfamiliarity with the terrain. Still, Ukrainian military and intelligence officials have assessed that the North Koreans gained crucial battlefield experience and have been key to Russia's strategy of overwhelming Ukraine by throwing large numbers of soldiers into the battle for Kursk.

      South Korea calls for North's immediate withdrawal from Russia South Korea's Unification Ministry on Monday urged North Korea to withdraw its troops from Russia immediately, saying the North's support of Russia's illegal invasion of Ukraine poses a grave provocation to international security. Spokesperson Koo Byoungsam also called the North's troops' deployment “an act against humanity” that has sacrificed young North Korean soldiers for their government.

      In a Kremlin meeting Saturday, Valery Gerasimov, chief of the general staff for Russia's armed forces, informed Putin of Russia's regaining of the Kursk region. Gerasimov was first to confirm that North Korean soldiers fought alongside Russia to repel Ukrainian troops from the Kursk region and “demonstrated high professionalism, showed fortitude, courage and heroism in battle.” If confirmed, Russia's victory in Kursk would deprive Ukraine of key leverage in US-brokered efforts to negotiate an end to the more than three-year-old war by exchanging its gains for some Russia-occupied land in Ukraine.

      President Donald Trump said Saturday he doubts Putin wants to end the war, expressing new skepticism a peace deal can be reached soon. Only a day earlier, Trump had said Ukraine and Russia were “very close to a deal.” (AP) OZ OZ

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