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    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
    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
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    August 6, 2026
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    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
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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
    Show AI Summary
    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
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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.

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      Sale Live: Prowatch Xtreme on Amazon at just Rs. 16 for Early Shoppers

      June 14, 2025

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      New Delhi, Delhi, India (NewsVoir) Prowatch, the smartwatch portfolio of India’s leading smartphone brand Lava International Ltd., brings an unmissable launch day offer for its recently launched Prowatch Xtreme, the brand’s most advanced smartwatch yet. As part of an exclusive Amazon sale starting at 12 PM on Monday, 16th June, the first 50 customers can purchase the smartwatch for just Rs. 16.To avail this offer on the silicone variant, buyers must use the coupon code “XTREME16” at checkout.

      Prowatch Xtreme, an upgraded version of the popular Prowatch X, blends high-performance hardware with software enhancements. It stands out with its vibrant 1.43-inch AMOLED display, offering a high-resolution 466 × 466 pixel density, 326 PPI, and up to 500 nits’ brightness, ensuring crystal-clear visibility in any lighting. The display is safeguarded by Corning® Gorilla® Glass 3 and supports Always-On Display, allowing users to stay updated.

      With over 110 customizable watch faces, it’s designed to suit every mood and moment. Crafted for durability and style, the smartwatch features a sandblasted and oxidized aluminum alloy body, making it both lightweight and rugged. Rated IP68 water-resistant, it’s built to endure workouts, splashes, and everyday adventures. Backed by a 300mAh battery, it delivers up to 10 days of usage, 5 hours of Bluetooth calling, and 17 hours of GPS tracking, all powered by the ATD3085C chipset with smooth Bluetooth 5.3 connectivity.

      Prowatch Xtreme comes with 110+ sports modes, structured running courses, and Intelligent Exercise Recognition. Its HX3960 PPG heart sensor ensures accurate heart rate and SpO2 racking, along with advanced features like VO2 Max, HRV, body energy monitoring, and post-workout recovery analysis. What sets it apart is the seamless integration with Google Fit and Health Connect, helping users sync and view data from multiple fitness apps in one dashboard. Outdoor explorers will appreciate the built-in barometer, altimeter, and compass, while productivity tools like event reminders, Pomodoro timer, gesture controls, and Find My Watch/Phone bring smart convenience to everyday life. Compatible with both Android and iOS, the Prowatch Xtreme also comes with an industry-leading 2-year warranty, reaffirming Lava’s promise of reliability and performance.

      Prowatch Xtreme will be available exclusively on Amazon starting today at 12 PM, and comes in three sleek variants: Silicone, Nylon, and Metal, to suit a variety of styles and preferences. Silicon strap will be free with the Nylon and metal variants. Beyond the special Rs. 16 drop for the first 50 units, customers can also enjoy launch day discounts across all variants, along with an additional 1,000 off on select bank cards.

      The sale will go live exclusively on Amazon at 12PM on June 16, 2025.

      Shop here: www.amazon.in/b?node=207709323031&ref=EXT_lava Offers beyond first 50 units: Variant Amazon Special Price Launch Day Offer (June 16) Additional Bank Offer Net Effective Price (incl. of bank offer) Silicone Rs. 4,499 Rs. 3,999 Rs. 1,000 off on leading bank cards Rs. 2,999 Nylon Rs. 4,699 Rs. 4,199 Rs. 1,000 off on leading bank cards Rs. 3,199 Metal Rs. 4,999 Rs. 4,499 Rs. 1,000 off on leading bank cards Rs. 3,499 Specifications: Specification Details Screen Size 1.43 inch Screen Type AMOLED IP Rating IP68 Water Resistant Glass Cover Corning® Gorilla® Glass 3 Connectivity Bluetooth 5.3, Seamless Bluetooth Calling & Quick Replies Body Type Aluminium Metal Alloy with Sandblasted & Oxidized Finish Battery 300mAh, 8-10 Days Battery Backup, 5 Hours Bluetooth Calling, 17 Hours GPS Usage Chipset ATD3085C Screen Resolution 466 × 466 Brightness 500 nits Display Features Always-On Display, 326 PPI Density Warranty 2 Years App Support Android & iOS Sensor 6-Axis G-Sensor for High-Precision Motion Tracking PPG Heart Sensor HX3960 PPG Heart Sensor for Accurate Heart Rate & SpO₂ Monitoring GPS In-built GPS Sports & Fitness 110+ Sports Modes, 6 Structured Running Courses, Intelligent Exercise Recognition (IER), Aerobic Training Effect Health Tracking Body Energy Monitor, VO₂ Max, Heart Rate Variability (HRV), Post-Workout Recovery Analysis, SpO₂ Monitoring (Manual & Continuous), Smart Sleep Tracking, Breathing Exercises Explorer Suite In-built Barometer, Altimeter, Compass (ABC) Productivity Find My Watch & Phone, Quick Replies, Event Reminders, Pomodoro Timer, World Clock, Stopwatch with Lap Tracking, Google Fit Integration Additional Features Air Quality Index (AQI) Monitoring, Gesture Controls (Raise-to-Wake, Cover-to-Sleep), 110+ Customizable Watch Faces About Prowatch Prowatch, the smartwatch accessory sub-brand of Lava is dedicated to offering superior user experience through quality and accuracy. With a robust lineup across three price segments—the V Series for entry-level, Z Series for mid-range, and X Series for flagship devices—Prowatch continues to innovate and expand its market reach.

      Connect with us on Instagram, YouTube, and Facebook.

      About Lava International Limited #ProudlyIndian | Made in India, Made for India Lava International Limited, headquartered in Noida, Uttar Pradesh, is a pioneering mobile handset and solutions company in India, founded in 2009 with the vision to empower individuals. The company's corporate office and manufacturing facility, equipped with a production capacity of 42.52 million handsets per annum, are strategically located in Noida. Lava's commitment to innovation is reflected in its two state-of-the-art research and development centers in Noida, housing dedicated teams in software and hardware design. The company's extensive nationwide presence is facilitated by a robust retail network of 1.65 Lakh retailers, directly served by over 1000 distributors, and supported by a vast after-sales service network of 800+ professionally managed service centers. The brand has a global presence in 20+ countries.

      Beyond smartphones, Lava is expanding its product portfolio into accessories to offer a complete ecosystem to the consumers. The portfolio includes smartwatches, neckbands, earbuds, and a suite of True Wireless Stereo (TWS). The brand's credibility is underscored by being ranked the 'Most Trustworthy Brand' in the CMR Retail Sentiment Index.

      Connect with us on Instagram, YouTube, and Facebook.

      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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