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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
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    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
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    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
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    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
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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
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    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
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    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
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    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
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    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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      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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