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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...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    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.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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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
    Show AI Summary
    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    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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      Customs & Trade

      Trump fast-tracks Utah uranium mine, but industry revival may wait for higher prices

      May 31, 2025

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      Salt Lake City, May 31 (AP) In the southeastern Utah desert famous for red rock arches and canyon labyrinths, the long-dormant uranium mining industry is looking to revive under President Donald Trump.

      Hundreds of abandoned uranium mines dot the West's arid landscapes, hazardous reminders of the promise and peril of nuclear power during the Cold War. Now, one mine that the Trump administration fast-tracked for regulatory approval could reopen for the first time since the 1980s.

      Normally it would have taken months, if not years, for the US Bureau of Land Management to review plans to reopen a project like Anfield Energy's Velvet-Wood mine 35 miles south of Moab. But the bureau's regulators green-lit the project in just 11 days under a “national energy emergency” Trump has declared that allows expedited environmental reviews for energy projects.

      More permits and approvals will be needed, plus site work to get the mine operating again. And the price of uranium would have to rise enough to make domestic production financially sustainable. If that happens, it would mean revival — and jobs — to an industry that locally has been moribund since the Ronald Reagan era.

      “President Trump has made it clear that our energy security is national security," Interior Secretary Doug Burgum said in announcing the fast-tracking policy in April. “These emergency procedures reflect our unwavering commitment to protecting both.” More fast approvals appear likely. Trump's order also applies to oil, gas, coal, biofuel and hydropower projects — but not renewable energy — on federal lands.

      Conditions are ripe for more US uranium mining Global uranium prices are double what they were at a low point seven years ago and, for the past year, the US has banned uranium imports from Russia due to that country's 2022 invasion of Ukraine.

      More domestic mining would address a major imbalance. The US imports about 98 per cent of the uranium it uses to generate 30 per cent of the world's nuclear energy.

      More than two-thirds of US imports come from the world's top three uranium-mining countries: Canada, Australia and Kazakhstan.

      Less government regulation won't spur more US uranium mining by itself. The market matters. And while spot-market prices are up from several years ago, they're down about a third from their recent high in early 2024.

      While some new uranium mining and processing projects have been announced, their number falls far short of a surge. That suggests prices need to rise — and stay there — for a true industry revival, said John Uhrie, a former uranium executive who now works in the cement industry.

      “Until the price goes up dramatically, you're not going to be able to actually put these places into operation,” Uhrie said. “You need significant capital on the ground.” Still, the industry is showing new life in the Southwest.

      Anfield Energy, a Canadian company, also looks to reopen the Shootaring Canyon uranium mill in southern Utah near Glen Canyon National Recreation Area. It closed in the early 1980s. A uranium mill turns raw ore into yellowcake, a powdery substance later processed elsewhere into nuclear fuel.

      Anfield officials did not return messages seeking comment on plans to reopen the mill and the Velvet-Wood mine.

      Energy Fuels, another Canadian company which ranks as the top US uranium miner, opened the Pinyon Plain mine about 10 miles from the Grand Canyon in late 2023.

      And just off US 191 in southeastern Utah is a hub of the industry, Uranium Fuels' White Mesa mill, the country's only uranium mill still in operation.

      In Moab, uranium has a long — and mixed — legacy These days, Moab is a desert tourism hot spot bustling with outdoor enthusiasts. But the town of 5,200 has a deeper history with uranium. Nods to Moab's post-World War II mining heyday can been spotted around town — the Atomic Hair Salon isn't just named for its blowout hairstyles.

      The biggest reminder is the Moab Uranium Mill Tailings Remedial Action project, a 480-acre site just outside town. The decades-long, USD 1 billion US Department of Energy effort to haul off toxic tailings that were leaching into the Colorado River upstream from the Grand Canyon and Lake Mead should wrap up within five more years.

      That mill's polluting legacy makes some Moab residents wary of restarting uranium mining and processing, especially after the Trump administration cut short their ability to weigh in on the Velvet-Wood mine plans.

      “This was a process I would have been involved in,” said Sarah Fields, director of the local group Uranium Watch. “They provided no opportunity for the public to say, You need to look at this, you need to look at that.'" Grand Canyon Trust, a group critical of the Pinyon Plain mine as a danger to groundwater, points out that the US nuclear industry isn't at risk of losing access to uranium.

      “This is all being done under the assumption there is some energy emergency and that is just not true,” said Amber Reimondo, the group's energy director.

      Supply and demand will decide uranium mining's future Hundreds of miles to the north, other nuclear energy projects point to the US industry's future.

      With Bill Gates' support, TerraPower is building a 345-megawatt sodium-cooled fast reactor outside Kemmerer in western Wyoming that could, in theory, meet demand for carbon-free power at lower costs and with less construction time than conventional reactor units.

      Meanwhile, about 40 per cent of uranium mined in the US in 2024 came from four Wyoming “in-situ” mines that use wells to dissolve uranium in underground deposits and pump it to the surface without having to dig big holes or send miners underground.

      Similar mines in Texas and Nebraska and stockpiled ore processed at White Mesa accounted for the rest.

      None — as yet — came from mines in Utah.

      Powering electric cars and computing technology will require more electricity in the years ahead. Nuclear power offers a zero-carbon, round-the-clock option.

      Meeting the demand for nuclear fuel domestically is another matter. With prices higher, almost 700,000 pounds of yellowcake was produced in the US in 2024 — up more than a dozen-fold from the year before but still far short of the 32 million pounds imported into the US.

      Even if mining increases, it's not clear that US capacity to turn the ore into fuel would keep pace, said Uhrie, the former uranium mining executive.

      "Re-establishing a viable uranium industry from soup to nuts — meaning from mining through processing to yellow cake production, to conversion, to enrichment to produce nuclear fuel — remains a huge lift," Uhrie said. (AP) PY PY

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