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    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
    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
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    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.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
    Show AI Summary
    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.

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      Customs & Trade

      Numbers that matter from first 100 days of Trump's second term

      April 29, 2025

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      Washington, Apr 29 (AP) President Donald Trump's first 100 days back in the White House have been a demolition job — and that's a point of pride for his administration.

      For the Republican administration, the raw numbers on executive actions, deportations, reductions in the federal workforce, increased tariff rates and other issues point toward a renewed America.

      To Trump's critics, though, he's wielding his authority in ways that challenge the Constitution's separation of powers and pose the risk of triggering a recession.

      From executive orders to deportations, some defining numbers from Trump's first 100 days: Roughly 140 executive orders In just 100 days, Trump has nearly matched the number of executive orders that his predecessor, Democrat Joe Biden, signed during the previous four years, 162. Trump, at roughly 140, is essentially moving at a pace not seen since Franklin Delano Roosevelt's presidency, when the Great Depression necessitated urgent action.

      But the number alone fails to capture the unprecedented scope of Trump's actions. Without seeking congressional approval, Trump has used his orders and directives to impose hundreds of billions of dollars annually in new import taxes and reshape the federal bureaucracy by enabling mass layoffs.

      John Woolley, a professor at the University of California, Santa Barbara and co-director of the American Presidency Project, sees “very aggressive assertions of presidential authority in all kinds of ways” that are far more audacious than anything done by former presidents.

      That includes Biden's student debt forgiveness program and Barack Obama's decision to allow residency for immigrants who arrived in the country illegally as children.

      “None of those had the kind of arbitrary, forceful quality of Trump's actions,” Woolley said.

      145 per cent tariff rate on China Trump's tariff agenda has unnerved the global economy. He's gone after the two biggest US trade partners, Mexico and Canada, with tariffs of as much as 25 per cent for fentanyl trafficking.

      He's put import taxes on autos, steel and aluminum. On his April 2 “Liberation Day”, he slapped tariffs on dozens of countries that were so high that the financial markets panicked, causing him to pull back and set a 10 per cent baseline tax on imports instead to allow 90 days of negotiations on trade deals.

      But that pales in comparison to the 145 per cent tariff he placed on China, which prompted China to fight back with a 125 per cent tax on US goods.

      There are exemptions to the US tariffs for electronics. But inflationary pressures and recession fears are both rising as a trade war between the world's two largest economies could spiral out of control in dangerous ways.

      The US president has said that China has been talking with his administration, but he's kept his description of the conversations vague. The Chinese government says no trade negotiations of any kind are underway. Trump is banking on the tariffs raising enough revenue for him to cut taxes, even as he simultaneously talks up the prospect of an agreement.

      So far, despite the economic risks, the Trump team shows little desire to budge, even as the president claims a deal with China will eventually happen.

      “I believe that it's up to China to de-escalate because they sell five times more to us than we sell to them,” Treasury Secretary Scott Bessent told CNBC on Monday.

      More than 10,000 square miles of Crimea Trump said during his presidential campaign that he could quickly defuse the Russian-started war in Ukraine. But European allies and others say the US president's statements about how to end the war reflect a troubling affinity for Russian leader Vladimir Putin.

      Trump's peace proposal says that Ukraine must recognise Russian authority over the more than 10,000 square miles of the Crimean Peninsula.

      Ukrainian President Volodymr Zelenskyy rejected the idea out of hand: “There is nothing to talk about — it is our land, the land of the Ukrainian people.” The US president is essentially asking Ukraine to surrender any claims to a land mass slightly larger than Maryland. Russia annexed the area in 2014 when Obama was president, and Trump says he's simply being realistic about its future.

      The four meetings that Trump's envoy, Steve Witkoff, has had with Putin have yet to produce a trustworthy framework for the deal that Trump wants to deliver.

      After recent Russian missile attacks on Ukrainian cities and towns, Trump posted on social media that perhaps Putin “doesn't want to stop the war, he's just tapping me along”.

      Over 2,000 more Palestinians in Gaza dead Trump was eager to take credit for an “epic ceasefire” agreement in the Israel-Hamas War in order to restart the release of hostages taken in Hamas' October 7, 2023, attack. But the ceasefire ended in March, and more than 2,000 Palestinians have died since the temporary truce collapsed. Palestinian officials have put the total number of deaths above 52,200. Food, fuel and medicine have not entered the Gaza Strip for almost 60 days.

      Trump said in February that he would remove the Palestinians from the Gaza Strip and relocate them elsewhere, suggesting that the United States could take over the area, level the destroyed buildings and construct a luxurious “Riviera of the Middle East”.

      Roughly 280,000 federal job losses The Department of Government Efficiency, led by tech billionaire and adviser Elon Musk, is dramatically shrinking the government workforce. Across all agencies, there have been about 60,000 firings, including at the IRS, which might make it harder to collect taxes and reduce the budget deficit.

      Another 75,000 federal workers accepted administration buyout offers. And the Trump administration has floated at least another 145,000 job cuts.

      Those estimated job losses don't include the possible layoffs and hiring freezes at nonprofits, government contractors and universities that had their federal funding frozen by the Trump administration.

      The federal government had about 3 million federal employees, including at the US Postal Service, when Trump became president, according to the Labour Department.

      139,000 deportations The Trump administration says it has deported 139,000 people who were in the United States without proper legal authority. Trump's first months also have produced a sharp drop in crossings at the Southwest border, with Border Patrol tracking 7,181 encounters in March, down from 137,473 the same month last year.

      Deportations have occasionally lagged behind Biden's numbers, but Trump officials reject the comparison as not “apples to apples” because fewer people are crossing the border now.

      The administration maintains that it's getting rid of violent and dangerous criminals. But many migrants who assert their innocence have been deported without due process.

      In April, the Supreme Court directed the Trump administration to “facilitate” the return to the US of Kilmar Abrego Garcia, an El Salvador citizen who was deported to his home country. Abrego Garcia had been living in Maryland and had an immigration court order preventing his deportation to his native country over fears he would face persecution from local gangs. So far, Abrego Garcia remains held in a Salvadoran prison.

      Trump said last week that he won the presidential election on the promise of deportations and that the courts are interfering with his efforts.

      “We're getting them out, and a judge can say, No, you have to have a trial,'" Trump said. "The trial's going to take two years, and now we're going to have a very dangerous country if we're not allowed to do what we're entitled to do.” (AP) PY PY

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