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    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
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    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
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    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
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    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
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    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 5, 2026
    Show AI Summary
    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.

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      California governor asks court to block Trump administration from using troops in immigration raids

      June 11, 2025

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      Los Angeles, Jun 10 (AP) California Gov. Gavin Newsom filed an emergency request in federal court Tuesday to block the Trump administration from using the National Guard and Marines to assist with immigration raids in Los Angeles.

      Newsom's move comes after President Donald Trump ordered the deployment of roughly 4,000 National Guard members and 700 Marines to Los Angles following four days of protests driven by anger over the president's stepped-up enforcement of immigration laws.

      The governor's request said it was in response to a change in orders for the Guard.

      The filing included a declaration from Paul Eck, deputy general counsel in the California Military Department. Eck said the department has been informed that the Pentagon plans to direct the California National Guard to start providing support for immigration operations. That support would include holding secure perimeters around areas where raids are taking place and securing streets for immigration agents.

      The Guard members were originally deployed to protect federal buildings.

      It was not clear if the change in mission had begun.

      Newsom's office did not immediately say how the state was notified about the change.

      Marines have not responded to protests yet In other developments Tuesday, the Marine Corps commandant said the Marines that deployed to the Los Angeles area on Trump's orders have not yet been called to respond to the protests and are there only to protect federal officials and property, The 700 Marines and another 2,000 National Guard troops were ordered to LA on Monday, escalating a military presence that local officials and Gov. Gavin Newsom do not want and that the police chief says makes it harder to handle the protests safely.

      Marine Corps Gen. Eric Smith told a budget hearing on Capitol Hill that the battalion has not yet been sent to any protests. The Marines were trained for crowd control but have no arrest authority and are there to protect government property and personnel, he said.

      Trump left open the possibility of invoking the Insurrection Act, which authorises the president to deploy military forces inside the US to suppress rebellion or domestic violence or to enforce the law in certain situations. It's one of the most extreme emergency powers available to a US president.

      “If there's an insurrection, I would certainly invoke it. We'll see,” he said Tuesday from the Oval Office. “But I can tell you last night was terrible, and the night before that was terrible.” Trump has described Los Angeles in dire terms that Mayor Karen Bass and Newsom say are nowhere close to the truth.

      While protesters blocked a major freeway and set cars on fire over the weekend, the demonstrations in the city of 4 million people have largely been centred in several blocks of downtown.

      On Monday, they were far less raucous, with thousands of people peacefully attending a rally at City Hall and hundreds more protesting outside a federal complex that includes a detention centre where some immigrants are being held following workplace raids across the city.

      At daybreak Tuesday, guard troops were stationed outside the detention center, but there was no sign of the Marines.

      Obscene slogans directed at Trump and federal law enforcement remained scrawled across several buildings. At the Walt Disney Concert Hall, workers were busy washing away graffiti Tuesday morning.

      In nearby Santa Ana, armoured guard vehicles blocked a road leading to federal immigration and government offices. Workers swept up plastic bottles and broken glass near buildings sprayed with graffiti.

      Sending in the military is the latest step in the administration's immigration crackdown as Trump pursues the mass deportations he promised last year during the presidential campaign. The protests have been driven by anger over the stepped-up enforcement that critics say is breaking apart migrant families.

      Defence Secretary Pete Hegseth suggested Tuesday that the use of troops inside the US will continue to expand.

      “I think we're entering another phase, especially under President Trump with his focus on the homeland, where the National Guard and Reserves become a critical component of how we secure that homeland,” he said on Capitol Hill.

      Los Angeles officials say police don't need help The mayor and the governor say Trump is putting public safety at risk by adding military personnel even though police say they don't need the help.

      Los Angeles Police Chief Jim McDonnell said he was confident in the police department's ability to handle large-scale demonstrations and that the Marines' arrival without coordinating with the police department would present a “significant logistical and operational challenge.” Newsom called the deployments reckless on the social platform X. “This isn't about public safety,” the governor said. “It's about stroking a dangerous President's ego.” Protests spread across the US The protests began Friday after federal immigration authorities arrested more than 40 people across Los Angeles and continued over the weekend as crowds blocked a major freeway and set self-driving cars on fire. Police responded with tear gas, rubber bullets and flash-bang grenades.

      Demonstrations spread Monday to other cities nationwide, including San Francisco and Santa Ana, California, as well as Dallas and Austin, Texas. Authorities in Austin said police used pepper spray balls and tear gas to disperse a crowd that threw rocks and bottles at officers, injuring four.

      Los Angeles response takes stage on Capitol Hill The Pentagon said deploying the National Guard and Marines costs USD 134 million. That figure came out Tuesday just after Hegseth engaged in a testy back-and-forth about the costs during a congressional hearing.

      The defense secretary said the department has a budget increase and the money to cover the costs, and he defended Trump's decision to send the troops, saying they are needed to protect federal agents doing their jobs.

      Meanwhile, Democratic members of California's congressional delegation on Tuesday accused the president of creating a “manufactured crisis” with his orders to send in troops.

      Rep. Nancy Pelosi contrasted Trump's actions with his handling of the Jan. 6, 2021, insurrection at the US Capitol when law enforcement officers were beaten. “We begged the president of the United States to send in the National Guard. He would not do it,” Pelosi said.

      California pushes back against sending troops California Attorney General Rob Bonta filed a lawsuit over the use of National Guard troops following the first deployment, telling reporters that Trump had “trampled” the state's sovereignty. He sought an order declaring Trump's use of the Guard unlawful and asking for a restraining order to halt the deployment.

      Trump said the city would have been “completely obliterated” if he had not deployed the Guard.

      US officials said the Marines were needed to protect federal buildings and personnel, including immigration agents. A convoy of buses with blacked-out windows and escorted by sheriff's vehicles arrived overnight at a Navy facility just south of LA.

      Despite their presence, there has been limited engagement so far between the Guard and protesters while local law enforcement implements crowd control.

      Protests were peaceful Monday Thousands flooded the streets around City Hall for a union rally Monday before labor leader David Huerta was freed on a bond after he was arrested Friday while protesting the immigration raids.

      As the crowd thinned, police began pushing protesters away, firing crowd-control munitions as people chanted, "Peaceful protest.” At least a dozen people were surrounded by police and detained.

      Several dozen people were arrested throughout the weekend. Authorities say one was detained Sunday for throwing a Molotov cocktail at police and another for ramming a motorcycle into a line of officers.

      Guard deployment is a nearly unprecedented escalation The deployment appeared to be the first time in decades that a state's National Guard was activated without a request from its governor, a significant escalation against those who have sought to hinder the administration's mass deportation efforts.

      The last time the National Guard was activated without a governor's permission was in 1965, when President Lyndon B. Johnson sent troops to protect a civil rights march in Alabama, according to the Brennan Center for Justice. (AP) GSP

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