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    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    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
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    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Protests over immigration raids pop up across the US with more planned

      June 11, 2025

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      Austin (Texas) (AP) Protests that sprang up in Los Angeles over immigration enforcement raids and prompted President Donald Trump to mobilise National Guard troops and Marines have begun to spread across the country, with more planned into the weekend.

      From Seattle and Austin to Chicago and Washington, D.C., marchers have chanted slogans, carried signs against the Immigration and Customs Enforcement (ICE) agency and snarled traffic through downtown avenues and outside federal offices. While many have been peaceful, some have resulted in clashes with law enforcement as officers made arrests and used chemical irritants to disperse crowds.

      Activists are planning more and even larger demonstrations in the coming days, with "No Kings" events across the country on Saturday to coincide with Trump's planned military parade through Washington.

      The Trump administration said it would continue its programme of raids and deportations despite the protests.

      "ICE will continue to enforce the law," Homeland Security Secretary Kristi Noem posted on Tuesday on social media.

      A look at some protests across the country: San Francisco About 200 protesters gathered outside the San Francisco Immigration Court on Tuesday after activists said several arrests were made there.

      That gathering came after protests on Sunday and Monday swelled to several thousand demonstrators and saw more than 150 arrests with outbreaks of violence that included vandalised buildings, and damaged cars, police vehicles and buses. Police said two officers suffered non-life threatening injuries.

      Most of the arrests were Sunday night.

      "Individuals are always free to exercise their First Amendment rights in San Francisco, but violence, especially against SFPD officers, will never be tolerated," San Francisco police posted on social media.

      Police described Monday's march as "overwhelmingly peaceful," but said "two small groups broke off and committed vandalism and other criminal acts." Several people were detained or arrested, police said.

      Seattle About 50 people gathered outside the immigration court in downtown Seattle on Tuesday, chanting with drums and holding up signs that said, "Free Them All; Abolish ICE" and "No to Deportations." Protesters began putting scooters in front of building entryways before police arrived.

      Mathieu Chabaud, with Students for a Democratic Society at the University of Washington, said they were there in solidarity with the Los Angeles protesters, "and to show that we're opposed to ICE in our community." Legal advocates who normally attend the immigration court hearings as observers and to provide support to immigrants were not allowed inside the building. Security guards also turned away the media. The hearings are normally open to the public.

      New York City A mass of people rallied in lower Manhattan on Tuesday evening to protest deportations and federal immigration policy.

      Demonstrators gathered outside two federal buildings that house immigration courts and began marching amid a heavy police presence.

      Some protesters held signs reading "ICE out of New York" and others chanted, "Why are you in riot gear? I don't see no riot here." New York City police said multiple people were taken into custody. There were no immediate charges.

      Chicago In Chicago, a small crowd gathered on Tuesday outside immigration court in downtown and called for an end to Trump administration immigration sweeps and military presence in California.

      "With the militarisation of Los Angeles it's time to get out and let Trump know this is unacceptable," said retiree Gary Snyderman. "All of this is so unconstitutional." The group then marched through downtown streets drumming and chanting, "No more deportations!" The demonstration had grown to at least a thousand protesters by late on Tuesday, remaining relatively peaceful with limited engagement between the group and police officers.

      Denver A group of protesters gathered in front of the Colorado state capitol in Denver on Tuesday, creating a sea of cardboard signs, one exhorting: "Show your faces. ICE cowards." The group, inspired by the Los Angeles protests over the past several days, split in half, marching down two different thoroughfares and crowding out traffic.

      A large police presence was not seen initially, but a few officers began blocking a street behind the the marchers.

      Santa Ana In Santa Ana near Los Angeles, armoured vehicles blocked the road on Tuesday morning leading into the Civic Centre, where federal immigration officers and numerous city and county agencies have their offices.

      Workers swept up plastic bottles and broken glass from Monday's protests. Tiny shards of red, black and purple glass littered the pavement. Nearby buildings and the sidewalk were tagged with profane graffiti slogans against ICE and had Trump's name crossed out. A worker rolled paint over graffiti on a wall to block it out.

      National Guard officers wearing fatigues and carrying rifles prevented people from entering the area unless they worked there.

      While a small group kept up their demonstration on Tuesday, several counter-protesters showed up. One man wore a red T-shirt and Make America Great Again cap as he exchanged words with the crowd opposing the raids.

      Austin Four Austin police officers were injured and authorities used chemical irritants to disperse a crowd of several hundred demonstrators Monday night that moved between the state Capitol and a federal building that houses an ICE office. State officials had closed the Capitol to the public an hour early in anticipation of the protest.

      Austin police used pepper spray balls and state police used tear gas when demonstrators began trying to deface the federal building with spray paint. The demonstrators then started throwing rocks, bottles and other objects at a police barricade, Austin Police Chief Lisa Davis said. Three officers were injured by "very large" rocks and another was injured while making an arrest, she said.

      Austin police arrested eight people, and state police arrested five more. Davis said her department is prepared for Saturday's planned protest downtown.

      "We support peaceful protest," Davis said. "When that protest turns violent, when it turns to throwing rocks and bottles ... that will not be tolerated. Arrests will be made." Dallas A protest that drew hundreds to a rally on a city bridge lasted for several hours on Monday night before Dallas police declared it an "unlawful assembly" and warned people to leave or face possible arrest.

      Dallas police initially posted on social media that officers would not interfere with a "lawful and peaceful assembly of individuals or groups expressing their First Amendment rights." But officers later moved in and media reported seeing some in the crowd throw objects as officers used pepper spray and smoke to clear the area. At least one person was arrested.

      "Peaceful protesting is legal," Texas Governor Greg Abbott, a Republican, posted on X. "But once you cross the line, you will be arrested." Boston Hundreds of people gathered in Boston's City Hall Plaza on Monday to protest the detainment of union leader David Huerta Friday during immigration raids in Los Angeles.

      Protesters held signs reading "Massachusetts stands with our neighbours in Los Angeles" and "Protect our immigrant neighbours," and shouted, "Come for one, come for all" and "Free David, free them all." Huerta, president of Service Employees International Union California, was released from federal custody later Monday on USD 50,000 bond.

      "An immigrant doesn't stand between an American worker and a good job, a billionaire does," said Chrissy Lynch, President of the Massachusetts AFL-CIO.

      Washington, D.C.

      Several unions gathered on Monday in Washington to protest the raids and rally for Huerta's release, and marched past the Department of Justice building.

      Among the demonstrators was US Rep Pramila Jayapal, a Democrat from Washington state.

      "Enough of these mass ICE raids that are sweeping up innocent people," Jayapal said. "As we see people exercising the constitutional rights to peacefully use their voices to speak out against this injustice, they are being met with tear gas and rubber bullets." (AP) RUK RUK

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