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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
    '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
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    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
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
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    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.
    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
    Show AI Summary
    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 & Japan - A Shared Relationship Through Democracy, Higher Education and Commitment to a Sustainable Environment: JGU Vice Chancellor to speak at Japanese Parliament

      June 20, 2025

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      Tokyo, June 20, 2025: To strengthen the bilateral Higher Education Relationship and to enhance the democratic values shared by India and Japan, the Founding Vice Chancellor of O.P. Jindal Global University Prof. (Dr.) C. Raj Kumar will address the Japan Parliament – the Diet – on 24 June, 2025. This prominent and highly esteemed address to Japanese Parliamentarians aims to reinforce the democratic principles shared by the two countries and is also a celebration of India at 75 and how the country has accomplished its commitment to the principles it was founded upon.

      As part of the shared democratic agenda, the Vice Chancellor Dr. Raj Kumar and Indian delegates will visit the Japanese Parliament for a Dialogue with the Members of the National Diet of Japan. The visit will also feature a special Address by Dr. Abhishek M. Singhvi, Senior Advocate, Supreme Court of India and a Member of Parliament, on the theme: “India and Japan: Partners in Democracy, Drivers of Innovation, and Architects of a Sustainable Future”.

      Dr. Raj Kumar’s academic and intellectually high-profile visit involves an ambitious and extensive series of activities and events across Japan over the coming week. Accompanied by Senior Advocate of the Supreme Court of India Dr. Abhishek Manu Singhvi and a high-level delegation of academics and legal luminaries Dr. Raj Kumar aims to foster a long-term association with leading institutions, academics and public thought leaders to introduce reinforce the higher education relationship between the two countries.

      The 2nd India-Japan Higher Education Forum 2025 will be held today evening on 20th June, 2025 along with the Unveiling the Vision Statement of the Singhvi Centre for Constitutional, Parliamentary and Legal Studies at O. P Jindal Global University. The Education Forum will involve a Panel Discussion on Universities of the Future: Promoting Democracy, Dialogue, and Development in Asia and Beyond in Tokyo.” The Chief Guest will be His Excellency Mr. Sibi George, Ambassador of India to Japan and Guest of Honour will be Dr. Abhishek M. Singhvi, Senior Advocate, Supreme Court of India. Vice Chancellor Dr. C Raj Kumar will open the discussion with the panelists: Prof. Matthew J. Wilson, President and Dean, Temple University Japan Campus; Prof. Miki Sugimura, President Sophia University; Prof. Noriyuki Takahashi, Musashi University; Prof. Sawako Shirahase, Senior Vice Rector and Assistant Secretary General of United Nations, United Nations University; Prof. Yujin Yaguchi, Vice President, University of Tokyo; Prof. Maki Kunimatsu, Vice President, Chuo University and Hon’ble Mr. Justice Michael D. Wilson, Former Judge, Supreme Court of Hawaii, USA and Distinguish Prof. of Law at O. P Jindal Global University.

      Prof. (Dr.) C. Raj Kumar said, “There are three key themes to focus on with our Japanese counterparts: higher education collaborations and new partnerships, an insight into Indian democratic values and practices and a deep and incisive discourse on climate challenges facing our countries. India has been growing at a phenomenal pace and has recently emerged as the third largest economy in the world. We have had a long-standing and resilient relationship with Japan; with interactions and meetings for cooperation held regularly at the highest level of decision-makers across our country. This visit will further build on these foundations and bring together like-minded intellectuals, academics and professionals to enhance our cultural and educational relationship.” There will be multiple Memorandums of Understanding (MoUs) signed during the visit with leading Japanese Universities which include Asia University, Chuo University, Doshisha University, Osaka Gakuin University and Kansai University to name a few. These MoUs will enable student exchanges, research collaborations, academic partnerships and more.

      Later, as part of the UNU Conversation series on India and the World: Democracy, Development and Justice Dr. Abhishek M. Singhvi, and Dr. C Raj Kumar will address the United Nations University in Tokyo and they will be joined by Prof. (Dr.) Tshilidzi Marwala, Rector, United Nations University: Under-Secretary-General of the United Nations. This landmark event has been jointly organized by Singhvi Centre for Constitutional, Parliamentary & Legal Studies, at O.P. Jindal Global University.

      “India and Japan have had a farsighted socio-economic, political and cultural relationship. As a lawyer, I believe that we have a shared vision for the rule of law and the rights and duties of the individual citizens in a democracy. India has been independent for 75 years and the country has overcome many challenges and has remained true to its fundamental principles. It is a unique country with a diverse culture, geography and population with many languages, beliefs and communities. Yet, we have always found common ground towards development, growth and human upliftment and this has made the Indian democracy stronger and resilient,” Dr. Abhishek Manu Singhvi said.

      During the visit, Dr Raj. Kumar will also address students at Temple University Japan, Kyoto Campus for a lecture on India at 75: The Story of the World’s Largest Democracy in the presence of Prof. Matthew J. Wilson, President and Dean, Temple University Japan Campus.

      As part of the shared concerns around climate change and the environment by India and Japan, Dr. Raj Kumar will inaugurate the Japan-India Sustainability Conclave and Release of JGU’s Sustainability Development Report 2025. This will be followed by a Panel Discussion on The Role of Governance Framework in Supporting Biodiversity Conservation and Accelerating Green Innovation with a Special Address by Prof. (Dr.) Kensuke Fukushi, Director, Institute for Future Initiatives at the University of Tokyo.

      Other panelists are Prof. Atsushi Kota, Dean Graduate School of Asia-Pacific Studies Waseda University, Dr. Anupam Khajuria, Research Fellow and Academic Associate UNU-IAS, Prof. Masahiro Sugiyama, Institute for Future Initiatives, University of Tokyo and Prof. Shizuka Hashimoto, Graduate School of Agricultural and Life Sciences University of Tokyo.

      This will be followed by a seminar hosted by Kyoto University, Kiko Network and JGU on Lessons from Recent Climate Lawsuits in the United States and India: Implications for Japan in Kyoto; including a Lecture on Climate Litigation in the United States by Hon’ble Mr. Justice Michael D. Wilson, followed by a Lecture on Eco-Constitutionalism in India: Environment Rights, Judicial Activism, and the Role of Civil Society by Dr. C Raj Kumar and a discourse on Law Policy and the Planet: India’s Pathways to Achieving the SDGs by Dr. Abhishek M. Singhvi.

      The delegation also includes Hon’ble Mr. Justice Michael D. Wilson, Former Judge, Supreme Court of Hawaii, USA and Distinguished Professor of Law at O. P Jindal Global University Other members of the delegation will include Prof. R Padmanabhan, Dean Office of Academic Governance, JGU and Prof. (Dr.) Vesselin Popovski, Vice Dean and Executive Director Centre for the Study of the United Nations at JGU and Prof (Dr.) Akhil Bhardwaj, Vice Dean and Director Office of International Affairs and Global Initiatives.

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

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