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    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
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    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
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    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
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    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
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    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
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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.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
    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.
    August 5, 2026
    Show AI Summary
    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
    Show AI Summary
    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
    Show AI Summary
    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
    Show AI Summary
    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.

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      India's Defence Triumph in Operation Sindoor Showcases the Power of DRDO Indigenous Collaboration

      June 17, 2025

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      Hyderabad, Telangana, India (NewsVoir) Operation Sindoor has come to symbolize more than just a successful military campaign—it represents India’s emerging confidence in its own defence ecosystem, powered by years of innovation, foresight, and collaborative development. At the centre of this transformative moment stands the Defence Research and Development Organisation (DRDO), whose ability to translate research into deployable combat systems has become a cornerstone of India’s modern military capability.

      Precision Strike with Missile Systems: The operation demonstrated India’s readiness across multiple domains. Akash missile systems and Supersonic cruise missiles like BrahMos played a decisive role, delivering precision strikes with speed and accuracy. These missiles not only offered a tactical edge but also showcased how indigenous missile programs have matured into globally benchmarked platforms. This progress is a direct outcome of the visionary leadership of Dr. A.P.J. Abdul Kalam, who laid the foundation and build the institutional structure through the Integrated Guided Missile Development Programme (IGMDP), and the continued dedication of successive generations of leaders, scientists and engineers who transformed that vision into reality.

      Electronic Warfare and Radars Electronic warfare systems developed by DRDO further ensured that Indian forces could dominate the electromagnetic spectrum. These systems enabled the disruption of enemy communications and surveillance infrastructure, a critical factor in neutralizing early threats and maintaining battlefield advantage. DRDO’s integration of spectrum analysis tools with advanced signal processors created a robust shield that was both adaptive and field-proven.

      Complementing these were high-performance surveillance systems and multi-mode radars that gave Indian forces complete situational awareness, even in complex operational theatres. From long-range battlefield surveillance units to electro-optical payloads, these systems ensured that the flow of real-time intelligence remained uninterrupted, enabling rapid and coordinated decision-making across command structures.

      Counter-Drone systems: The growing threat of unmanned aerial systems was countered with equal foresight. DRDO developed a comprehensive countermeasure—the D4 system. This advanced, vehicle-mounted counter-drone solution is designed to neutralize the growing risk from rogue UAVs through an integrated multi-layered architecture. The D4 system synergizes key subsystems, including RF-based drone detection, radar tracking, electro-optical/infrared (EO/IR) identification, and a combination of soft-kill and hard-kill capabilities. It effectively employs RF jammers to disrupt hostile communication links, while electro-optical tracking ensures visual confirmation and precision targeting. For kinetic neutralization, the system incorporates hard-kill mechanisms capable of engaging and destroying the aerial threat, ensuring a robust and adaptive response across diverse operational scenarios.

      The Defence Research and Development Organisation (DRDO) marked a significant achievement in 2020 by swiftly developing and deploying an indigenous anti-drone system during the challenging peak of the COVID-19 pandemic. This system was operationally deployed near Delhi's Red Fort on August 15, 2020, to safeguard the 74th Independence Day celebrations, including Prime Minister Narendra Modi's address .

      These systems neutralized some of the hostile drone incursions, protecting both frontline troops and strategic assets. Developed as part of a Development cum production partnership initiative under the leadership of DRDO’s DG, Electronics Cluster, the D4 project has emerged as a powerful case study in co-development and battlefield relevance.

      Visionary leadership: Long before drone warfare captured international focus, the Electronics Cluster at DRDO had initiated the development of modular, scalable counter-drone systems. The D4 system was the result of this proactive strategy—designed for multi-sensor integration and rapid deployment across various conflict zones. The path adopted by visionaries is to have the PSUs and Indian private companies as key development partners in the program.

      DRDO – industry ecosystem: Unistring Tech Solutions Pvt. Ltd. (UTS) a Subsidiary of Zen Technologies is one of the key private sector partners involved in the D4 program. The company was entrusted with the supply of Key RF and digital sub systems. This collaboration was marked not just by technical delivery, but by deep engagement with DRDO throughout the lifecycle of the system—from early design reviews to live field trials.

      The experience of being involved in co-development efforts, backed by strong institutional mentorship, allowed UTS to not only deliver state-of-the-art systems but to shape and adapt them based on frontline realities and evolving threat scenarios. As drone threats continue to evolve, so must the system—reflecting the dynamic nature of electronic warfare, which demands constant innovation and adaptability.

      A word of appreciation: Operation Sindoor is more than just an operational milestone—it stands as compelling evidence that India’s defence capabilities are increasingly being shaped and realized within its own borders. The journey from lab to battlefield has become shorter, more collaborative, and significantly more impactful. Under the leadership of DRDO, we have seen what becomes possible when a strong national vision is matched by the innovation and commitment of India’s Public and private sector.

      Nearly every Indian private enterprise engaged in defence today has, in some form, drawn foundational learnings through its association with DRDO. For many, DRDO served as the first door into the world of defence technology—providing guidance, opportunities, and critical early-stage support. The invaluable and often quiet contributions of DRDO’s scientific community have now yielded tangible results, delivering strategic advantages precisely when the nation needed them most.

      A Message to the youth of INDIA: To the bright young minds of India, In a world driven by technology and marked by evolving challenges, there lies an extraordinary calling—one that goes beyond personal achievement, beyond headlines and awards. It is the call to contribute to the defence of our nation, not just with courage on the frontlines, but with innovation, intellect, and integrity.

      Defence technology is not just about machines, missiles, or metal. It is about protecting lives. It is about giving our soldiers the edge to come home safely. It is about ensuring that India’s borders are guarded by systems designed, developed, and delivered by Indians who believe in something greater than themselves.

      Imagine working on technologies that can track enemy drones in real-time, develop radar systems that scan the skies for threats, or build secure communication networks that operate even in the harshest conditions. Imagine the excitement of turning theoretical physics into battlefield-ready electronics, or algorithms into life-saving decisions. Every day brings a new challenge. Every breakthrough can shift the balance of national security.

      And then imagine the satisfaction—the unmatched pride—of knowing that your work helps protect a billion dreams. That because of your code, your circuit, your design, a threat was neutralized, a life was saved, a mission was accomplished.

      India needs not just soldiers in uniform, but scientists, engineers, developers, and thinkers who stand behind them. This is your chance to serve, to build, and to defend—not with a gun, but with a pen, a tool, a keyboard, and a vision.

      Join the mission. Be a part of the next generation of defence innovators. Because when you choose to work on technologies that secure our borders, you choose a life of purpose, excitement, and deep national pride Way ahead: Every conflict presents an opportunity to both learn and unlearn—to reassess existing practices, identify what proved effective, and recognize what fell short. This is the time to review, reflect, and address deficiencies with clarity and purpose. While certain systems and features performed as intended, others highlighted critical gaps. These insights are not setbacks but essential learnings that will strengthen future capabilities and drive more resilient, adaptive solutions. The lessons from Sindoor serve as both a validation and a roadmap. India is not just defending itself—it is building the future of defence, indigenously and intelligently. As former DRDO scientists, it gives us immense pride to have contributed to this meaningful and transformative journey.

      (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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