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    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
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    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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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
    Show AI Summary
    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Unquestionably in violation: Judge says US government didn't follow court order on deportations

      May 22, 2025

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      Washington, May 22 (AP) The White House violated a court order on deportations to third countries with a flight linked to the chaotic African nation of South Sudan, a federal judge said Wednesday, hours after the Trump administration said it had expelled eight immigrants convicted of violent crimesbut refused to reveal where they would end up. The judge's statement was a notably strong rebuke to the government's deportation efforts.

      In an emergency hearing he called to address reports that immigrants had been sent to South Sudan, Judge Brian E. Murphy in Boston said the eight migrants aboard the plane were not given a meaningful opportunity to object that the deportation could put them in danger. Minutes before the hearing, administration officials accused “activist judges” of advocating the release of dangerous criminals.

      “The department actions in this case are unquestionably in violation of this court's order,” Murphy said Wednesday, arguing that the deportees didn't have “meaningful opportunity” to object to being sent to South Sudan. The group was flown out of the United States just hours after getting notice, leaving them no chance to contact lawyers who could object in court.

      Government attorneys argued that the men had a history with the immigration system, giving them prior opportunities to express a fear of being deported to a country outside their homeland. They also pointed out that the judge had not specified the exact time needed between notice and deportation, leaving room for misunderstanding.

      The government calls the deported people true national security threats' The migrants' home countries — Cuba, Laos, Mexico, Myanmar, Vietnam and South Sudan — would not take them back, according to Todd Lyons, the acting director of Immigration and Customs Enforcement, who spoke to reporters in Washington. He later said the migrants either came from countries that often do not take back all their deported citizens or had other situations that meant they could not be sent home.

      “These represent the true national security threats,” Lyons said at a news conference. Behind him was a display of photos of men he said had been convicted of rape, homicide, armed robbery and other crimes.

      Administration officials, who have repeatedly clashed with the courts over their attempts to deport large numbers of immigrants, made their displeasure clear Wednesday.

      President Donald Trump and Homeland Security Secretary Kristi Noem “are working every single day to get these vicious criminals off of American streets — and while activist judges are on the other side, fighting to get them back onto the United States soil,” said Tricia McLaughlin, a department spokesperson. She pointed to the photographs and described them as “the monsters” that Murphy “is trying to protect.” Homeland Security officials released few specific details about the deportation flight. They said it left Tuesday with eight people on board and said they remained in the department's custody Wednesday. Officials said they could not disclose the migrants' final destination because of “safety and operational security.” The case comes amid a sweeping immigration crackdown by the Republican administration, which has pledged to deport millions of people who are living in the United States illegally. The legal fight is the latest flashpoint as the administration rails against judges whose rulings have slowed the president's policies.

      Lawsuits on immigration issues are everywhere With Congress largely silent or supportive, opponents of Trump's agenda have filed hundreds of lawsuits and judges have issued dozens of orders against the administration. Immigration has been the most contentious issue. There was the mistaken deportation of an immigrant who was living in Maryland to a prison in El Salvador, as well as Trump's push to swiftly deport alleged Venezuelan gang members without a court review.

      The administration officials insisted that the deported men had received due process, but did not provide details. Immigration-rights attorneys argue they violated Murphy's order, first handed down in March, that says people must have a chance to argue that going somewhere outside their homeland would put them in danger before being deported, even if they've otherwise exhausted their legal appeals.

      “The government is still refusing to provide due process to our clients, which means they are not giving them notice of the country to which they're being deported, proper notice in a language that they understand, and not giving them a meaningful opportunity to claim fear based on those countries,” Trina Realmuto, the executive director of the National Immigration Litigation Alliance, said outside court.

      “These are countries that the State Department doesn't want Americans to travel to. They are categorically not safe,” she added.

      In court, Realmuto asked the judge to return the individuals to the United States. “They are no less deserving of protection than any other human beings on this planet,” she said.

      The government argued the interviews with the men over their fears could be done where they are currently being held and confirmed with Murphy that they can be arranged. Realmuto called this a “logistical nightmare” that penalizes the men because the government violated the judge's order. She said it would prove a challenge to get the men legal counsel and interpreters, an effort complicated by the time difference.

      Murphy, who raised the prospect of criminal contempt for anyone “involved in an illegal deportation,” said he would come up with a remedy as soon as Wednesday night. He seemed satisfied with a new set of interviews conducted abroad with the migrants as long as an appropriate place with appropriate privacy can be found. He also said the government was welcome to bring the migrants back.

      The countries of origin vary Attorneys for the immigrants told the judge that immigration authorities may have sent as many as a dozen people from several countries to Africa.

      The apparent removal of one man from the troubled Southeast Asian nation of Myanmar was confirmed in an email from an immigration official in Texas, according to court documents. He was informed only in English, a language he does not speak well, and his lawyers learned of the plan hours before his deportation flight, they said.

      A woman also reported that her husband from Vietnam and up to 10 other people were flown to Africa on Tuesday morning, attorneys from the National Immigration Litigation Alliance wrote.

      Murphy, who was nominated by Democratic President Joe Biden, previously found that any plans to deport people to Libya without notice would “clearly” violate his ruling.

      South Sudan says it's unaware of any arrivals South Sudan's police spokesperson, Maj. Gen. James Monday Enoka, told The Associated Press on Wednesday that no migrants had arrived in the country and that if they do, they would be investigated and “redeported to their correct country” if found not to be South Sudanese.

      Edmund Yakani, executive director of the South Sudanese group Community Empowerment for Progress Organization, questioned why people convicted of crimes in the United States would be sent there. “Is South Sudan a land of less human who deserve to receive perpetrators of human rights violations? Without any public explanation?” he asked.

      Some countries do not accept deportations from the United States. That has led the administration to strike agreements with other countries, including Panama, to house them. The U.S. has sent Venezuelans to a notorious prison in El Salvador under an 18th-century wartime law, an action being contested in the courts.

      South Sudan has endured repeated waves of violence since gaining independence from Sudan in 2011 amid hopes it could use its large oil reserves to bring prosperity to a region long battered by poverty. Just weeks ago, the country's top U.N. official warned that fighting between forces loyal to the president and a vice president threatened to spiral again into full-scale civil war.

      The State Department's annual report on South Sudan, published in April 2024, says “significant human rights issues” include arbitrary killings, disappearances, torture or inhumane treatment by security forces and extensive violence based on gender and sexual identity.

      The Homeland Security Department has given Temporary Protected Status to a small number of South Sudanese already living in the United States, shielding them from deportation because conditions were deemed unsafe for return. Noem recently extended those protections to November to allow for a more thorough review.

      The U.S is one of the biggest donors to South Sudan's humanitarian aid programs, with the total funding in 2024 standing at over USD 640 million. HIG HIG

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