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    RBI bars banks from disabling mobile devices of defaulting borrowers
    Par panel for early conclusion of India-US trade pact, tariff exemptions on key goods
    No commitments relating to ethanol import from US for fuel blending under FTA talks: Govt
    No concession or commitment on import of Ethanol for fuel blending from the United States
    Office of the Controller General of Patents, Designs and Trade Marks Announces Tentative Schedule for Patent and Trade Marks Agent Examinations 2027 a...
    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
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    Show All SummariesHide All Summaries
    August 6, 2026
    Show AI Summary
    Device-based loan recovery restrictions protect essential mobile functions while permitting gradual locking only for lender-financed devices.
    Technology-based recovery mechanisms cannot restrict or disable a borrower's mobile device unless the bank financed acquisition of that device. Where permitted, banks must adopt a gradual approach and preserve essential functions, including incoming calls, SMS access, and emergency SOS features. Regulated entities and service providers must obtain manufacturer or operating-system certification for device-locking technology. Disclosure of borrower or guarantor information to recovery personnel must be limited to what is necessary for loan-recovery duties.
    August 6, 2026
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    Bilateral trade agreement negotiations should secure tariff certainty, protect key exports, strengthen supply chains, and support vulnerable small industries.
    An early Bilateral Trade Agreement is proposed to protect Indian interests, secure tariff exemptions for key exports, reduce barriers affecting industrial products, and create predictable trade conditions. Recommended measures include financial and export-credit support for small industries, real-time monitoring of customs requirements, documentation assistance, and timely policy support against tariff and non-tariff barriers. Export strategy should develop knowledge services and critical supply-chain integration, while a National Fund should assist suppliers with redesign, tooling, certification and entry into new global supply chains.
    August 6, 2026
    Show AI Summary
    Ethanol imports for fuel blending remain excluded from trade commitments, with domestic producers continuing to supply the blending programme.
    Ethanol imports for fuel blending remain outside concessions or commitments in India-US trade discussions. Under the Ethanol Blended with Petrol Programme, ethanol procurement is governed solely by domestic policy requirements and is sourced entirely from domestic producers. Claims of existing or intended large-scale ethanol imports from the United States for fuel blending, or of a policy change permitting them, are stated to be baseless.
    August 6, 2026
    Show AI Summary
    Domestic ethanol sourcing for fuel blending continues unchanged, with no import commitments or concessions involving United States ethanol.
    Ethanol used for fuel blending under the Ethanol Blended with Petrol Programme is sourced entirely from domestic producers, with no imports from the United States for that purpose. No concessions or commitments on importing United States ethanol for fuel blending have been made in trade discussions. Fuel blending and ethanol procurement continue to be governed solely by domestic policy requirements, and claims of a policy change allowing large-scale imports are incorrect.
    August 6, 2026
    Show AI Summary
    Patent and trade marks agent qualification examinations require written-paper minimums, aggregate passing scores, and viva voce assessment for registration.
    Patent and trade marks agent examinations comprise an objective Paper I, a descriptive Paper II and a viva voce assessing suitability to practise before the Intellectual Property Office. Candidates must secure the stipulated minimum marks in each written paper and the required aggregate score to pass. Registration in the relevant Register of Patent Agents or Register of Trade Marks Agents is available only to candidates who satisfy all prescribed eligibility conditions and qualify the examination.
    August 6, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      President Donald Trump pushes ahead with his maximalist immigration campaign in face of LA protests

      June 10, 2025

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      Washington, Jun 10 (AP) Donald Trump made no secret of his willingness to exert a maximalist approach to enforcing immigration laws and keeping order as he campaigned to return to the White House. The fulfillment of that pledge is now on full display in Los Angeles.

      The president has put hundreds of National Guard troops on the streets to quell protests over his administration's immigration raids, a deployment that state and city officials say has only inflamed tensions. Trump called up the California National Guard over the objections of Democratic Governor Gavin Newsom — the first time in 60 years a president has done so — and is deploying active-duty troops to support the guard.

      By overriding Newsom, Trump is already going beyond what he did to respond to Black Lives Matter protests in 2020, when he warned he could send troops to contain demonstrations that turned violent if governors in the states did not act to do so themselves. Trump said in September of that year that he "can't call in the National Guard unless we're requested by a governor" and that "we have to go by the laws." But now, the past and current president is moving swiftly, with little internal restraint to test the bounds of his executive authority in order to deliver on his promise of mass deportations. What remains to be seen is whether Americans will stand by him once it's operationalised nationwide, as Trump looks to secure billions from Congress to dramatically expand the country's detention and deportation operations.

      For now, Trump is betting that they will.

      "If we didn't do the job, that place would be burning down," Trump told reporters Monday, speaking about California. "I feel we had no choice. ... I don't want to see what happened so many times in this country." A crisis of Trump's own making The protests began to unfold on Friday as federal authorities arrested immigrants in several locations throughout the sprawling city, including in the fashion district of Los Angeles and at a Home Depot. The anger over the administration's actions quickly spread, with protests in Chicago and Boston as demonstrations in the southern California city also continued on Monday.

      But Trump and other administration officials remained unbowed, capitalising on the images of burning cars, graffiti and Mexican flags — which, while not dominant, started to become the defining images of the unrest — to bolster their law-and-order cause.

      Leaders in the country's most populous state were similarly defiant.

      California officials moved on Monday to sue the Trump administration, with the state's attorney general, Rob Bonta, arguing that the deployment of troops "trampled" on the state's sovereignty and pushing for a restraining order. The initial deployment of 300 National Guard troops was expected to quickly expand to the full 2,000 that were authorised by Trump.

      The state's senior Democratic senator, Alex Padilla, said in an interview that "this is absolutely a crisis of Trump's own making." "There are a lot of people who are passionate about speaking up for fundamental rights and respecting due process, but the deployment of National Guard only serves to escalate tensions and the situation," Padilla told The Associated Press. "It's exactly what Donald Trump wanted to do." Padilla slammed the deployment as "counterproductive" and said the Los Angeles Sheriff's Department was not advised ahead of the federalisation of the National Guard. His office has also pushed the Pentagon for a justification on the deployment, and "as far as we're told, the Department of Defense isn't sure what the mission is here," Padilla added.

      Candidate Trump previewed immigration strategy during campaign Much of this was predictable.

      During his 2024 presidential campaign, Trump pledged to conduct the largest domestic deportation operation in American history to expel millions of immigrants in the country without legal status. He often praised President Dwight D Eisenhower's military-style immigration raids, and the candidate and his advisers suggested they would have broad power to deploy troops domestically to enact Trump's far-reaching immigration and public safety goals.

      Trump's speedy deployment in California of troops against those whom the president has alluded to as "insurrectionists" on social media is a sharp contrast to his decision to issue no order or formal request for National Guard troops during the insurrection at the US Capitol on January 6, 2021, despite his repeated and false assertions that he had made such an offer.

      Trump is now surrounded by officials who have no interest in constraining his power. In 2020, Trump's then-Pentagon chief publicly rebuked Trump's threat to send in troops using the Insurrection Act, an 1807 law that empowers the president to use the military within the US and against American citizens.

      Current Defence Secretary Pete Hegseth signalled support on his personal X account for deploying troops to California, writing, "The National Guard, and Marines if need be, stand with ICE," referring to the US Immigration and Customs Enforcement agency.

      The Defence Department said on Monday it is deploying about 700 active-duty Marines to Los Angeles to support National Guard troops already on the ground to respond to the protests.

      White House responds to an incompetent' governor Protesters over the weekend blocked off a major freeway and burned self-driving cars as police responded with tear gas, rubber bullets and flash-bang grenades in clashes that encompassed several downtown blocks in Los Angeles and led to several dozen arrests. Much of the city saw no violence.

      But the protests prompted Trump to issue the directive Saturday mobilising the California National Guard over Newsom's objections. The president and his top immigration aides accused the governor of mismanaging the protests, with border czar Tom Homan asserting in a Fox News interview on Monday that Newsom stoked anti-ICE sentiments and waited two days to declare unlawful assembly in the city.

      Trump told Newsom in a phone call on Friday evening to get the situation in Los Angeles under control, a White House official said. It was only when the administration felt Newsom was not restoring order in the city — and after Trump watched the situation escalate for 24 hours and White House officials saw imagery of federal law enforcement officers with lacerations and other injuries — that the president moved to deploy the Guard, according to the official, who was granted anonymity to discuss private deliberations.

      "He's an incompetent governor," Trump said on Monday. "Look at the job he's doing in California. He's destroying one of our great states." Local law enforcement officials said Los Angeles police responded as quickly as they could once the protests erupted, and Newsom repeatedly asserted that state and city authorities had the situation under control.

      "Los Angeles is no stranger to demonstrations and protests and rallies and marches," Padilla said. "Local law enforcement knows how to handle this and has a rapport with the community and community leaders to be able to allow for that." The aggressive moves prompted blowback from some of Trump's erstwhile allies. Ileana Garcia, a Florida state senator who in 2016 founded the group Latinas for Trump and was hired to direct Latino outreach, called the recent escalation "unacceptable and inhumane." "I understand the importance of deporting criminal aliens, but what we are witnessing are arbitrary measures to hunt down people who are complying with their immigration hearings — in many cases, with credible fear of persecution claims — all driven by a Miller-like desire to satisfy a self-fabricated deportation goal," said Garcia, referring to Stephen Miller, a White House deputy chief of staff and key architect of Trump's immigration crackdown.

      The tactics could be just a preview to what more could come from the Trump administration and the Republican-controlled Congress. GOP lawmakers are working to pass a massive tax-and-border package that includes billions to hire thousands of new officers for Border Patrol and for ICE. The goal, under the Trump-backed plan, is to remove 1 million immigrants without status annually and house 100,000 people in immigration detention centres. (AP) RUK RUK

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