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    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
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    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
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    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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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
    Show AI Summary
    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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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
    Show AI Summary
    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
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    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
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    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.

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      Anti-Trump demonstrators crowd streets, parks and plazas across US, organizers say millions came

      June 15, 2025

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      Philadelphia (US), Jun 15 (AP) Masses of demonstrators packed into streets, parks and plazas across the US on Saturday to protest President Donald Trump, marching through downtowns and small towns, blaring anti-authoritarian chants mixed with support for protecting democracy and immigrant rights.

      Organisers of the “No Kings” demonstrations said millions had marched in hundreds of events. Governors across the US had urged calm and vowed no tolerance for violence, while some mobilized the National Guard ahead of marchers gathering.

      Confrontations were isolated. But police in Los Angeles, where protests over federal immigration enforcement raids erupted a week earlier and sparked demonstrations across the country, used tear gas and crowd-control munitions to clear out protesters after the formal event ended. Officers in Portland also fired tear gas and projectiles to disperse a crowd that protested in front of a US Immigration and Customs Enforcement building well into the evening.

      And in Salt Lake City, Utah, police were investigating a shooting during a march downtown that left one person critically injured. Three people were taken into custody, including a man believed to be the shooter, who also suffered a gunshot wound, according to Police Chief Brian Redd.

      Redd said it was too early to tell if the shooting was politically motivated and whether those involved knew each other. The shooter appeared to be walking alongside the group of thousands who were marching, he added. Video feeds showed demonstrators running for safety as gunshots rang out.

      Huge, boisterous crowds marched, danced, drummed, and chanted shoulder-to-shoulder in New York, Denver, Chicago, Austin and Los Angeles, some behind “no kings” banners. Atlanta's 5,000-capacity event quickly reached its limit, with thousands more gathered outside barriers to hear speakers in front of the state Capitol. Officials in Seattle estimated that more than 70,000 people attended the city's largest rally downtown, the Seattle Times reported.

      Trump was in Washington for a military parade marking the Army's 250th anniversary that coincides with the president's birthday. About 200 protesters assembled in northwest Washington's Logan Circle and chanted “Trump must go now” before erupting in cheers. A larger-than-life puppet of Trump — a caricature of the president wearing a crown and sitting on a golden toilet — was wheeled through the crowd.

      In some places, organisers handed out little American flags while others flew their flags upside down, a sign of distress. Mexican flags, which have become a fixture of the Los Angeles protests against immigration raids, also made an appearance at some demonstrations Saturday.

      In Culpepper, Virginia, police said one person was struck by an SUV when a 21-year-old driver intentionally accelerated his SUV into the crowd as protesters were leaving a rally. The driver was charged with reckless driving.

      The demonstrations come on the heels of the protests over the federal immigration enforcement raids that began last week and Trump ordering the National Guard and Marines to Los Angeles, where protesters blocked a freeway and set cars on fire.

      “Today, across red states and blue, rural towns and major cities, Americans stood in peaceful unity and made it clear: we don't do kings," the No Kings Coalition said in a statement Saturday afternoon after many events had ended.

      Philadelphia Thousands gathered downtown, where organisers handed out small American flags and people carried protest signs saying “fight oligarchy” and “deport the mini-Mussolinis." Karen Van Trieste, a 61-year-old nurse who drove up from Maryland, said she grew up in Philadelphia and wanted to be with a large group of people showing her support.

      “I just feel like we need to defend our democracy,” she said. She is concerned about the Trump administration's layoffs of staff at the US Centres for Disease Control and Prevention, the fate of immigrant communities and Trump trying to rule by executive order, she said.

      A woman wearing a foam Statue of Liberty crown brought a speaker system and led an anti-Trump sing-along, changing the words “young man” in the song “Y.M.C.A.” to “con man.” ”I am what the successful American dream looks like,” said C.C. Téllez, an immigrant from Bolivia who attended the protest. “I've enjoyed great success here in the United States, and I've also contributed heavily to my community. And if there was space for me, I think there's a way for everybody else to belong here as well.” Los Angeles Thousands gathered in front of City Hall, waving signs and listening to a Native American drum circle before marching through the streets.

      As protesters passed National Guard troops or US Marines stationed at various buildings, most interactions were friendly, with demonstrators giving fist bumps or posing for selfies. But others chanted “shame” or “go home” at the troops.

      Amid signs reading “They fear us don't back down California” and “We carry dreams not danger, ” one demonstrator carried a 2-foot-tall (60-centimeter) Trump pinata on a stick, with a crown on his head and sombrero hanging off his back. Another hoisted a huge helium-filled orange baby balloon with blond hair styled like Trump's.

      A few blocks from City Hall, protesters gathered in front of the downtown federal detention centre being guarded by a line of Marines and other law enforcement. It was the first time that the Marines, in combat gear and holding rifles, have appeared at a demonstration since they were deployed to city on Friday with the stated mission of defending federal property.

      Peter Varadi, 54, said he voted for Trump last November for “economic reasons.” Now, for the first time in his life, he is protesting, waving a Mexican and US combined flag.

      “I voted for Donald Trump, and now I regret that, because he's taken this fascism to a new level,” Varadi said. “It's Latinos now. Who's next? It's gays. Blacks after that. They're coming for everybody.” Even after the formal event ended, the downtown streets were packed with a jubilant crowd as people danced to salsa music and snacked on hot dogs and ice cream bought from vendors, many of whom are Latino immigrants. But the previously calm demonstration turned confrontational as police on horseback moved into the crowd and struck some people with wood rods and batons as they cleared the street in front of the federal building.

      New York City Marchers in the crowd that stretched for blocks along Fifth Avenue had diverse reasons for coming, including anger over Trump's immigration policies, support for the Palestinian people and outrage over what they said was an erosion of free speech rights.

      But there were patriotic symbols, too. Leah Griswold, 32, and Amber Laree, 59, who marched in suffragette white dresses, brought 250 American flags to hand out to people in the crowd.

      “Our mothers who came out, fought for our rights, and now we're fighting for future generations as well,” Griswold said.

      Some protesters held signs denouncing Trump while others banged drums.

      “We're here because we're worried about the existential crisis of this country and the planet and our species,” said Sean Kryston, 28.

      Minnesota Gov Tim Walz and law enforcement encouraged people not to attend rallies “out of an abundance of caution” following the shootings of the Democratic state lawmakers.

      Dozens of events were canceled, but tens of thousands still turned out for demonstrations in Duluth, Rochester and St Paul, which included a march to the state Capitol. Walz canceled his scheduled appearance at the St Paul event.

      Authorities said the suspect had “No Kings” flyers in his car and writings mentioning the names of the victims as well as other lawmakers and officials, though they could not say if he had any other specific targets.

      Seda Heng, 29, of Rochester, said she was heartbroken by the shootings, but still wanted to join the rally there. “These people are trying to do what they can for their communities, for the state, for the nation,” Heng told the Minnesota Star-Tribune.

      North Carolina Crowds cheered anti-Trump speakers in Charlotte's First Ward Park before marching, chanting “No kings. No crowns. We will not bow down." Marchers stretched for blocks, led by a group of people holding a giant Mexican flag and bystanders cheering and clapping along the way.

      Jocelyn Abarca, a 21-year-old college student, said the protest was a chance to “speak for what's right” after mass deportations and Trump's deployment of the National Guard in Los Angeles.

      “If we don't stop it now, it's just going to keep getting worse,” she said.

      Naomi Mena said she travelled an hour to demonstrate in Charlotte to represent her “friends and family who sadly can't have a voice out in public now” to stay safe.

      Texas A rally at the Texas Capitol in Austin went off as planned despite state police briefly shutting down the building and the surrounding grounds after authorities said they received a “credible threat” to Democratic state lawmakers who were to attend.

      Dozens of state troopers swarmed through the grounds about four hours before the event, but the area was later opened and the rally started on time. The building remained closed.

      The Department of Public Safety later said one person was taken into custody “in connection with the threats made against state lawmakers" after a traffic stop in La Grange, Texas, about 65 miles (105 kilometers) east of Austin. State police did not detail the threat or immediately identify the person, but said there was no additional active threat.

      Mississippi A demonstration of hundreds of people opened to “War Pigs” by Black Sabbath playing over a sound system on the state Capitol lawn in Jackson.

      “A lot of stuff that's going on now is targeting people of colour, and to see so many folks out here that aren't black or brown fighting for the same causes that I'm here for, it makes me very emotional,” said Tony Cropper, who travelled from Tennessee to attend the protest.

      Some people wore tinfoil crowns atop their heads. Others held signs inviting motorists to “Honk if you never text war plans.” Melissa Johnson said she drove an hour-and-a-half to Jackson to protest because “we are losing the thread of democracy in our country." Portland Earlier in the day, thousands of protesters lined the streets in downtown Portland for several blocks, waving signs as passing cars honked in support. They marched around the city draped in American flags to the beat of drums and music.

      By late afternoon, a small group of demonstrators amassed across the river to protest in front of an ICE office where three people were arrested Wednesday night after starting a small fire against the building, police said.

      Federal immigration officers fired tear gas, flash bangs and rubber bullets in an effort to clear out the remaining protesters in the evening. Some protesters threw water bottles back and tended to each other's wounds. The police department wrote on X that the event was declared a riot.

      At least two people were detained and taken inside the federal immigration building. (AP) RD RD

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