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    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...
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    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
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    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
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    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.
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    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
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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.

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      Stop injustice with Punjab, says Mann at Niti Aayog meeting; raises water issue

      May 24, 2025

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      New Delhi, May 24 (PTI) Punjab Chief Minister Bhagwant Mann on Friday accused the Centre of giving "step-motherly" treatment to Punjab and said such type of discriminatory treatment is unwarranted.

      Participating in the meeting of 10th Governing Council of the Niti Aayog here, the chief minister raised the issues concerning the state while reiterating that Punjab has no surplus water for any state.

      Amid the ongoing row over the sharing of water issue, the chief minister asserted that in wake of grim situation of water in the state a Yamuna-Sutlej-Link (YSL) canal should be considered for construction instead of the Satluj Yamuna Link (SYL) canal.

      Mann said that Ravi, Beas, and Sutlej rivers are already in deficit and water should be diverted from surplus to deficit basins.

      He said that Punjab has repeatedly requested to be included in negotiations for the allocation of Yamuna waters as a pact for Yamuna-Sutlej-Link Project was signed between the erstwhile Punjab and Uttar Pradesh on March 12, 1954, which entitled the erstwhile Punjab to two-thirds of the Yamuna waters.

      The chief minister said that this agreement did not specify any particular area to be irrigated by Yamuna waters, adding that before the re-organization, the Yamuna River, like the Ravi and Beas, flowed through the erstwhile state of Punjab.

      However, while apportioning the river waters between Punjab and Haryana, the Yamuna waters were not considered, whereas the waters of Ravi and Beas were duly taken into account, he lamented.

      Citing 1972 report by the Irrigation Commission, constituted by the Government of India, Mann said that it states that Punjab (post-1966, after its reorganisation) falls within the Yamuna River Basin.

      The chief minister said that if Haryana has a claim over the waters of Ravi and Beas rivers, Punjab should also have an equal claim on the Yamuna waters. He said that these requests have been ignored, adding that due to non-construction of storage structure on Yamuna River, water is going to waste.

      Bhagwant Mann pleaded that Punjab's claim should be considered during the revision of this agreement, and Punjab should be given its due rights to Yamuna waters.

      Raising the issue of "bias approach" of Bhakra Beas Management Board (BBMB), the chief minister said that the Board was constituted under the provisions of the Punjab Reorganization Act, 1966, with the mandate to regulate the supply of water and power from the Bhakra, Nangal and Beas projects to the partner states of Punjab, Haryana, Rajasthan, Himachal Pradesh, Delhi and Chandigarh.

      He said that in the past Punjab has been very liberal in sharing water with the partner states to meet their drinking water and other genuine requirements as Punjab was relying upon its groundwater reserves to meet its demand of water, particularly for the paddy crop.

      Mann said that as a result, the groundwater level has depleted to a huge extent, so much so that 115 blocks out of 153 blocks of the state (76.10 per cent) are over-exploited, adding that this percentage is the highest amongst all the States in the country.

      Noting that Punjab itself is running short of its water requirement and even its water share in the river waters is not sufficient to meet these requirements, he said despite our repeated request BBMB did not take any action to advise the other partner states to regulate the release of water to Haryana, and as a result, it exhausted its share by March 30, 2025.

      Mann said that considering the request of the Government of Haryana on humanitarian grounds, the state decided to release 4,000 cusecs of water out of Punjab's share to meet its drinking water requirement, though Haryana has only a genuine demand of 1,700 cusecs of water.

      The chief minister claimed that BBMB ignored the interest of Punjab and decided to release 8,500 cusecs of water to Haryana despite serious objections raised by Punjab.

      He said that this is against the spirit and provisions of the law as BBMB has taken this decision of taking Punjab's water against the consent of Punjab, adding that BBMB should be advised to restrain itself and act as per the provisions of law.

      Highlighting the issue of deployment of CISF personnel at Bhakra Nangal Dam, the chief minister said the security of Bhakra and Nangal Dams has been the sole responsibility of the concerned states since their construction.

      He said that the Ministry of Power (MoP) has taken the decision to depute CISF for the security of Bhakra Nangal Dams, which is an unnecessary and completely avoidable step as there is no need to disturb a well-established operational setup as it further degrades the right of Punjab with respect to these dams. In view of this, Mann requested that the decision to depute CISF may be revoked immediately.

      Demanding adequate representation to Punjab officers and officials in the Chandigarh Administration in the ratio of 60:40, the chief minister said that Chandigarh is the capital of Punjab and there is a well-established and time honoured convention, since the reorganisation of the state of Punjab in 1966, to fill all civil posts in Chandigarh administration from personnel drawn from the Punjab and Haryana in the ratio of 60:40.

      However, he said that in recent years this balance has been severely eroded with a systematic increase in deputations from the AGMUT and DANICs cadres, and added that key departments in the Chandigarh Administration hitherto managed by officers from Punjab have now been allocated to much junior officers from the AGMUT cadre.

      He alleged that this increasing centralisation and declining representation to Punjab in the administration of its own capital is against the very spirit of cooperative federalism.

      Raising the issue of immediate release of pending arrears under the Post-Matric Scholarship Scheme for Scheduled Caste Students for Academic Sessions 2017-18, 2018-19 and 2019-20, the chief minister said that Punjab has the highest percentage of Scheduled Caste population (31.94 per cent) in the country and the Post Matric Scholarship scheme for SC Students for pursuing Higher Education was implemented as a 100 per cent centrally-sponsored scheme.

      He said that this scheme with a 'Committed Liability' of the state of Rs 60.79 crore proved to be highly beneficial for the Scheduled Caste students in Punjab adding that the Government of India changed the criteria of 'Committed liability' in 2018 and made it equivalent to "the total demand of the state as well as Centre" in the terminal year of the previous plan period/ Finance Commission.

      Speaking on the issue of Desilting of Harike Head works, the chief minister said that it is located at the confluence point of rivers Sutlej and Beas and is the main control point for supply of water to South west Punjab, Rajasthan and also controlling flow into Pakistan.

      Mann said that there is an urgent need for carrying out de-silting of the reservoir at a cost Rs 600 crore approximately, adding that as reservoir area has been declared a Ramsar Convention site and is of national importance, the central government and Rajasthan must share the cost of project.

      Meanwhile, affirming Punjab's full alignment with the vision of Viksit Bharat @2047, the chief minister said that Punjab is committed to build a Rangla Punjab' -- a vibrant, inclusive, and progressive state.

      He said that Punjab Vision 2047 launched in 2023 aligns with Viksit Bharat goals with an ambitious target of 8 per cent-plus annual GDP growth through industrial and service-led development, adding that structural reforms are underway to boost business environment along with infrastructure and innovation. PTI SKC HVA

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