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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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    August 5, 2026
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    August 5, 2026
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    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.
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    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.
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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.
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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.

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      Only 900 speakers of the Sanna language remain. Now Cyprus' Maronites are mounting comeback

      May 24, 2025

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      Kormakitis, May 24 (AP) Ash dangled precariously from Iosif Skordis' cigarette as he reminisced with fellow villagers in a language on the edge of extinction, one that partly traces its roots to the language Jesus Christ once spoke.

      The 97-year-old Skordis is one of only 900 people in the world who speak Cypriot Maronite Arabic, or Sanna. Today, his village of Kormakitis is the last bastion of a language once spoken by tens of thousands of people across dozens of villages.

      The tongue, an offshoot of Syrian Arabic that has absorbed some Greek, has been passed from generation to generation in this windswept community in Cyprus. Until less than two decades ago, there was no written script, or even an alphabet, since parents transmitted it to children in conversation. Only a handful of people are trained to teach it.

      Sanna is at risk of disappearing, according to the Council of Europe's minority language experts. One Indigenous language dies every two weeks, the United Nations estimates, diminishing the tapestry of human knowledge one strand at a time.

      But the 7,500-strong Maronite community in Cyprus is pushing back. With help from the Cypriot government and the European Union, it has built schools, created a Sanna alphabet to publish textbooks and begun classes to keep the language alive and thriving.

      “Sanna … is undoubtedly one of the most distinguishing features of our cultural identity,” said Yiannakis Moussas, the Maronite community's representative in the Cypriot legislature. He spoke in the Kormakitis coffeehouse adorned with soccer trophies and banners emblazoned with a Lebanese cedar.

      “And it's striking evidence of our heritage. The fact that we speak a kind of Arabic over so many centuries makes it clear that we descend from areas of Syria and Lebanon.” Roots in Syria and Lebanon The language was brought to Cyprus by waves of Arab Christians fleeing persecution by invading Arab Muslim fighters in what is now Syria, Lebanon and Israel, starting as early as the 8th century.

      Sanna at its root is a semitic language that, unlike other Arabic dialects, contains traces of the Aramaic that was spoken by populations prior to the Arab invasion of the Levant, according to University of Cyprus linguistics professor Marilena Kariolemou, who leads the team responsible for the language's revitalization.

      That's because the Maronite community in Cyprus was isolated from other Arabic-speaking populations.

      But as Maronites increasingly interacted with the island's majority Greek-speaking population and became bilingual, Sanna evolved to incorporate several Greek words, adding to its uniqueness among the many Arabic dialects.

      According to Kariolemou, Sanna contains five vowels similar to Greek and another three similar to Aramaic, while consonants whose sounds are formed in the back of the throat have diminished, likely because of the Greek influence. Sanna also adopted Greek syntax, she said.

      The effects of a Turkish invasion Until the mid-1970s, the Maronite community was largely centered around four villages: Asomatos, Ayia Marina, Karpasia and Kormakitis as the cultural center.

      But the 1974 Turkish invasion that split Cyprus into a breakaway Turkish Cypriot north and a Greek Cypriot south, where the internationally recognized government is based, saw most Maronites dispersed throughout the south.

      Asomatos and Ayia Marina are empty of Maronite inhabitants and are now Turkish army camps.

      Moussas, the community representative, said the consequences of 1974 were “catastrophic” for the Maronites as they gravitated toward the island's major cities, putting their culture and language at risk as children attended Greek-speaking schools and intermarriage with Greek Cypriots increased.

      It's said that currently, only one in five Maronite marriages are between members of the community.

      A hope for revival That left Kormakitis as the linguistic “hive” for Cypriot Maronite Arabic, only spoken by residents over 50, according to retired teacher Ilias Zonias. Born in Kormakitis, Zonias is the only native Sanna speaker qualified to teach the language.

      Kormakitis was a closed society in which residents spoke Sanna, while their kids went to school not knowing Greek. That's how the language was preserved, Zonias said.

      Still, speakers after 1974 began to dwindle until around the turn of the millennium, when the Maronite community with the help of the Cypriot government increased efforts to save the language.

      Cyprus' 2004 membership in the EU was a milestone for Sanna as the bloc poured resources into safeguarding Indigenous minority languages, a designation that Cypriot authorities had bestowed.

      Kariolemou said her team in 2013 set up a recorded archive of spoken Sanna, some 280 hours long, for further study.

      A 27-letter alphabet was created in mostly Latin characters, thanks mainly to the work of linguist Alexander Borg. Grammar was formulated and refined, enabling the publication of books for teaching Sanna.

      Efforts to attract young families Language courses are in their early stages, Skordis said, with about 100 children and adults in classes in Kormakitis and the Saint Maronas primary school in Lakatamia, a suburb of Nicosia, the country's capital. A summer language camp for children and adults in Kormakitis has also been created.

      An initiative is underway for native-born speakers — primarily Kormakitis residents — to learn how to teach Sanna.

      At Ayios Maronas primary school, 20 kindergarten-age children are learning the language with books containing QR codes that can be scanned so students can follow an audio adaptation on school-provided tablets.

      But for Sanna to have a real future, there is no substitute for young families returning in large numbers to Kormakitis, where the language can be taught in the newly built, EU-funded school, Moussas said.

      Community leaders, however, aren't pleased with the low number of people expressing interest. Moussas said community leaders and the Cypriot government are looking into offering incentives, primarily to make it easier to find housing.

      For Zonias, keeping the language alive for the ages would be the crowning achievement of his career.

      “I don't want to be the last teacher of Sanna,” he said. (AP) GSP

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