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    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
    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
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    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
    Show AI Summary
    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
    Show AI Summary
    Export-only e-commerce inventory operations require confirmed orders, traceable segregated stock, timely seller payments and proportionate export-benefit pass-through.
    The Inventory-based Cross-border E-Commerce Export Framework permits export-only inventory operations through a registered Exporter-on-Record, which procures goods against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted for domestic sale. Sellers must receive timely payment irrespective of overseas buyer payment, proportionate pass-through of export rebates and refunds, and visibility of sale prices, orders and shipment tracking. Annual compliance certification and digital records are required.
    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
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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
    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
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.

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      Protests over immigration raids pop up across US with more planned

      June 12, 2025

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      Austin(US), Jun 12 (AP) Protests over federal immigration enforcement raids and President Donald Trump's move to mobilize the National Guard and Marines in Los Angeles are spreading nationwide and are expected to continue into the weekend.

      While many demonstrations against the Immigration and Customs Enforcement agency have been peaceful, with marchers chanting slogans and carrying signs, others have led to clashes with police, hundreds of arrests and the use of chemical irritants to disperse crowds. In Texas, Republican Gov Greg Abbott posted on social media that an unspecified number of National Guard troops “will be deployed to locations across the state to ensure peace & order.” Activists say they will hold even larger demonstrations in the coming days, with “No Kings” events across the country on Saturday to coincide with Trump's planned military parade in Washington, DC.

      The Trump administration said immigration raids and deportations will continue regardless.

      A look at some protests across the country: New York City Police detained more than 80 people during protests in lower Manhattan's Foley Square on Tuesday evening and early Wednesday.

      Protesters shouted and waved signs that included “ICE out of NYC” as they rallied near an ICE facility and federal courthouses. Police estimated some 2,500 people participated. Some protesters jumped over metal barricades and clashed with officers who wrestled them to the ground. Video shows demonstrators throwing items at law enforcement vehicles.

      Police Commissioner Jessica Tisch said most of the demonstrators were peaceful and that just a few caused the disorder that required police intervention.

      “We want to maintain everyone's right to protest peacefully in this city and in this country, but we will not tolerate chaos and disorder or violence,” Tisch said Wednesday morning during an appearance on Fox 5 New York.

      Police said they took 86 people into custody, including 52 who were released with criminal court summonses for minor crimes and 34 who were charged with assault, resisting arrest and other crimes.

      San Antonio More than 400 people gathered outside of city hall Wednesday evening for an anti-ICE demonstration, according to local authorities. The protest was largely peaceful, with many blasting music and some handing out water. Nearby streets were closed off as law enforcement officers watched from hundreds of feet away.

      Dozens walked there from the historic Alamo mission after police closed off the area before the protest began.

      San Antonio Police Chief William McManus encouraged peaceful demonstration but said his officers would respond if "it turns violent.” Officers with the Texas Public Safety Department said the Texas National Guard was present at the protest. Members were not seen standing with law enforcement officers in front of a small crowd of demonstrators.

      Republican Gov Greg Abbott declined to say how many soldiers would be sent or how, only that they would be deployed in “strategic locations where they can provide the most robust response” necessary. He did not say whether he or the president mobilized them.

      “There are others outside of this room who would like to know that. And I'm not going to tell them,” Abbott said. “We want to make sure that what has happened in California does not happen in Texas.” Mayor Ron Nirenberg said he did not ask the governor to deploy the National Guard troops and officials said they did not know how many troops were being sent, where they would be stationed or what they would do.

      “I want to acknowledge the anger and frustration that's out there with the federal government's crude interpretations of immigration law and cruel approach to human rights,' Nirenberg said. ”Exercise your right to free speech, but I urge you to keep it lawful and peaceful." Philadelphia About 150 protesters gathered outside the Federal Detention Centre on Tuesday afternoon and marched to ICE headquarters then back to the detention centre.

      Police ordered a group marching along a major road to disperse and when they ignored the orders officers arrested 15 of them. Several officers used force during the arrests and their conduct will be reviewed, police said, without detailing what kind of force was used. Two officers suffered minor injuries.

      San Francisco About 200 protesters gathered outside the San Francisco Immigration Court on Tuesday after activists said several people were arrested there.

      Protests in the city swelled to several thousand demonstrators Sunday and Monday, and more than 150 people were arrested after some vandalized buildings and damaged cars, police vehicles and buses. Police said two officers suffered non-life threatening injuries.

      Seattle About 50 people gathered outside the immigration court in downtown Tuesday, chanting with drums and holding up signs that said, “Free Them All; Abolish ICE” and “No to Deportations.” Protesters blocked building entrances until 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. Security guards also turned journalists away from the usually public hearings.

      Chicago Police said 17 people were arrested at a protest that jammed a downtown plaza and took over surrounding streets Tuesday evening.

      Some of those arrested were accused of vandalism, and four were charged with felonies including aggravated battery against an officer of the peace.

      Also Tuesday, a 66-year-old woman was treated for a fractured arm after being struck by a car. Video showed the vehicle speeding along a road filled with protesters. No other injuries were reported.

      Denver A group of protesters gathered before the Colorado state capitol, creating a sea of cardboard signs, one exhorting: “Show your faces. ICE cowards.” The group then split in half, with hundreds chanting and marching down two thoroughfares and crowding out traffic.

      Police ordered them to disperse. Officers used smoke and pepper balls to control the crowd and 17 people were arrested, Denver police said Wednesday.

      Spokane Mayor Lisa Brown imposed a downtown curfew after a protest Wednesday afternoon outside an ICE office in Spokane, Washington.

      The curfew will run from Wednesday at 9:30 pm until 5 am Thursday, according to a statement released by the city.

      The curfew doesn't apply to law enforcement, emergency personnel, media, people leaving the soccer game at a local sports facility, residents who live in the area and people travelling for work.

      Several protesters were detained outside the ICE building, KXLY-TV reported. (AP) RD RD

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