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    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
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
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    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
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
    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.
    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
    Show AI Summary
    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
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
    Show AI Summary
    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
    Show AI Summary
    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
    Show AI Summary
    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.

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      Trump visiting Gulf Arab states while crises flare in Gaza, Iran

      May 12, 2025

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      Dubai, May 12 (AP) On his trip this week to the Middle East, US President Donald Trump will visit Saudi Arabia, Qatar and the United Arab Emirates, though his most pressing regional challenges concern two other countries: Israel and Iran.

      After ending a ceasefire two months ago, Israel is intensifying the war in the Gaza Strip, where a blockade on food, medicine and other supplies is worsening a humanitarian crisis. And Iran, an enemy of Israel and a rival of Saudi Arabia, stands on the cusp of being able to develop nuclear weapons.

      Yet Trump will focus his attention on three energy-rich nations home to existing or planned Trump-branded real estate projects — places where he aims to leverage American economic interests to do what he personally revels in: making business deals.

      “This is his happy place,” said Jon B Alterman, a senior vice president at the Washington-based Centre for Strategic and International Studies. “His hosts will be generous and hospitable. They'll be keen to make deals. They'll flatter him and not criticize him. And they'll treat his family members as past and future business partners.” But Trump won't be able to avoid altogether diplomacy on Gaza or Iran: The Gulf countries hosting him are also interested in easing the regional tensions that emanate from these two places.

      “Trump can easily score a win by reassuring them of America's strategic commitment to the region, demonstrating consistent messaging and generally rising above the fray,” analysts Elizabeth Dent and Simon Henderson of the Washington Institute for Near East Policy wrote Friday.

      Trump doesn't plan to visit Israel By not scheduling a trip to Israel during his first trip to the region during his second term as president, Trump is reinforcing a feeling in Israel that its interests may not be top of mind for him.

      That sense intensified last week, when Trump announced that the US would halt its strikes on the Houthis, an Iran-backed rebel group in Yemen that agreed to stop its attacks on American vessels in the Red Sea.

      The Houthis' attacks on Israel did not appear to be covered by that deal, which came as a surprise to Israel, according to an Israeli official who spoke on condition of anonymity to discuss a sensitive diplomatic issue. Days after the deal between the US and the Houthis — and despite a two-day Israeli assault on Houthi targets — a missile from Yemen again set off air raid sirens in Israel. Then Israel's military warned Sunday that Houthi-controlled ports in Yemen could be targeted again.

      Trump's move to launch negotiations with Iran over its nuclear programme also jarred Israel, which fears a deal that would not be strict enough to prevent Iran from obtaining a nuclear weapon or rein in its support for regional militant groups.

      Israel had hoped that Trump might provide military assistance in any strike it carried out on the country's nuclear facilities — an action that is unrealistic so long as there are negotiations, or if they reach a deal.

      That has raised questions in Israel over Trump's reliability on other major issues, like a long-sought normalisation deal with Saudi Arabia as part of any defence pact the administration may reach with the kingdom. Saudi Arabia has said it would only normalize ties with Israel in exchange for significant concessions for the Palestinians toward statehood, something the current Israeli government is unlikely to agree to.

      Israel has said it will hold off on expanding the war in Gaza until after Trump's visit, leaving the window open for a new ceasefire deal to materialize. But Trump's earlier attention on the war appears to have shifted, and it's unclear how hard his administration is working to goad the sides toward a deal. Trump has given Israel free rein in Gaza and, like Israel, blames Hamas for any civilian casualties.

      US Ambassador to Israel Mike Huckabee played down any significance to Trump's decision not to visit the country, saying in interviews with Israeli media that his visit to the region was focused on economic issues.

      And on Sunday, Hamas said the last living American hostage in Gaza, Edan Alexander, will be released as part of efforts to establish a ceasefire, reopen crossings into the Israeli-blockaded territory and resume the delivery of aid.

      No major breakthrough in Iran nuclear talks For Iran, much depends on the talks it is having with the US over its rapidly advancing nuclear programme. A reported two-month deadline to reach a deal likely has passed as US officials signal America may push for Iran to give up enrichment entirely — something Tehran has insisted is a red line.

      Although four rounds of talks mediated by Oman have not led to a major breakthrough, they have gone into the so-called “expert level” — meaning specifics about any possible accord likely have been discussed.

      Iranian Foreign Minister Abbas Araghchi traveled over the weekend to both Saudi Arabia and Qatar ahead of Trump's trip. Iran likely is trying to pass messages to the US while signalling its interest in continuing the talks. Iranian officials increasingly threaten to pursue a nuclear weapon, while Trump and Israel have both threatened to strike Iranian nuclear sites if a deal isn't reached.

      The Islamic Republic is running out of options. Its economy has cratered since Trump in 2018 unilaterally pulled America out of their initial nuclear deal with world powers. And Iran's self-described “Axis of Resistance” — a group of aligned nations and militant groups, including Hamas in Gaza and Hezbollah in Lebanon — has been mauled since the Israel-Hamas war began.

      Iran also faces internal political pressure, including from women increasingly refusing to wear the state-mandated headscarf, or hijab.

      There is one thing that unites most Iranians, however — pride over the Persian Gulf. Trump's consideration of having America uniformly call the body of water the “Arabian Gulf” instead drew fierce criticism from across the country.

      “This gulf has always been the Persian Gulf — and it will forever remain the Persian Gulf,” Tehran's Friday prayer leader Ayatollah Ahmad Khatami said Trump's 2017 trip still haunts the Gulf After starting his trip in Saudi Arabia, Trump will then go to Qatar, which recently announced plans for a Trump-branded development there.

      This tight embrace of the president comes after his first trip to the Middle East — in 2017 — apparently sparked what became known as the Qatar crisis. That is when Bahrain, Egypt, Saudi Arabia and the UAE boycotted Qatar over its support of Islamists in the region and its ties to Iran, with which it shares a massive offshore natural gas field.

      The dispute grew so serious that Kuwait's ruling emir at the time, Sheikh Sabah Al Ahmad Al Sabah, suggested on a visit to the White House there could have been “military action.” Trump initially criticized Qatar as having “historically been a funder of terrorism at a very high level” at the start of the boycott. Less than a year later, he praised Qatar and rolled that back. The four nations ended their boycott just before Biden took office.

      Then on Sunday, President Donald Trump said he was ready to accept a luxury Boeing 747-8 jumbo jet as a gift from the ruling family of Qatar during his trip to the Middle East. US officials say it could be converted into a potential presidential aircraft — which would amount to the president accepting an astonishingly valuable gift from a foreign government With crude oil prices trading just over $60 a barrel — lows not seen since 2021 — one major criticism Trump has for the Gulf states isn't there. The question is how Trump will deal with the region's multitude of crises and still-tender wounds.

      To avoid a repeat of the 2017 diplomatic crisis, Trump “should reemphasise efforts to unite the Gulf" said Dent and Henderson, of the Washington Institute for Near East Policy. (AP) NSA NSA

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