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    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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    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
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    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.

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      NATO leaders gather Tuesday for what could be historic summit, or one marred by divisions

      June 23, 2025

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      The Hague (Netherlands), Jun 23 (AP) US President Donald Trump and his NATO counterparts are due to gather Tuesday for a summit that could unite the world's biggest security organisation around a new defence spending pledge or widen divisions among the 32 allies.

      Just a week ago, things had seemed rosy. NATO Secretary-General Mark Rutte was optimistic the European members and Canada would commit to invest at least as much of their economic growth on defence as the United States does for the first time.

      Then Spain rejected the new NATO target for each country to spend 5% of its gross domestic product on defence needs, calling it “unreasonable.” Trump also insists on that figure. The alliance operates on a consensus that requires the backing of all 32 members.

      The following day, Trump said the US should not have to respect the goal.

      “I don't think we should, but I think they should,” he said. Trump lashed out at Prime Minister Pedro Sánchez's government, saying: “NATO is going to have to deal with Spain. Spain's been a very low payer." He also criticised Canada as “a low payer.” Spain was the lowest spender in the alliance last year, directing less than 2% of its GDP on defence expenditure, while Canada was spending 1.45%, according to NATO figures.

      Then Trump ordered the bombing of nuclear installations in Iran. In 2003, the US-led war on Iraq deeply divided NATO, as France and Germany led opposition to the attack, while Britain and Spain joined the coalition.

      European allies and Canada also want Ukraine to be at the top of the summit agenda, but they are wary that Trump might not want President Volodymyr Zelenskyy to steal the limelight.

      A short summit, decades of mutual security The two-day summit in The Hague involves an informal dinner Tuesday and one working session Wednesday morning. A very short summit statement has been drafted to ensure the meeting is not derailed by fights over details and wording.

      Indeed, much about this NATO summit is brief, even though ripples could be felt for years.

      Founded in 1949, the North Atlantic Treaty Organisation was formed by 12 nations to counter the threat to security in Europe posed by the Soviet Union during the Cold War, notably via a strong U.S. presence on the continent.

      Dealing with Moscow is in its DNA. Keeping the peace outside the Euro-Atlantic area is not.

      NATO's ranks have grown to 32 countries since the Washington Treaty was signed 75 years ago. Sweden joined last year, worried by an increasingly aggressive Russia.

      NATO's collective security guarantee — Article 5 of the treaty — underpins its credibility.

      It's a political commitment by all countries to come to the aid of any member whose sovereignty or territory might be under attack. Trump has suggested he is committed to that pledge, but he has also sowed doubt about his intentions. He has said the U.S. intends to remain a member of the alliance.

      A civilian runs NATO, but the US and its military hold power The United States is NATO's most powerful member. It spends much more on defence than any other ally and far outweighs its partners in terms of military muscle. Washington has traditionally driven the agenda but has stepped back under Trump.

      The US nuclear arsenal provides strategic deterrence against would-be adversaries.

      NATO's day-to-day work is led by Rutte, a former Dutch prime minister.

      As its top civilian official, he chairs almost weekly meetings of ambassadors in the North Atlantic Council at its Brussels headquarters. He chairs other “NACs” at ministerial and leader levels. Rutte runs NATO headquarters, trying to foster consensus and to speak on behalf of all members.

      NATO's military headquarters is based nearby in Mons, Belgium. It is always run by a top U.S. officer.

      Ukraine's role at the summit is unclear With Trump demanding greater defence spending, it's unclear what role Ukraine will play at the summit. Zelenskyy has been invited, but it's unclear whether he will have a seat at NATO's table, although he may take part in Tuesday's dinner. Russia's war in Ukraine usually dominates such meetings.

      More broadly, NATO itself is not arming Ukraine. As an organisation, it possesses no weapons of any kind. Collectively, it provides only non-lethal support — fuel, combat rations, medical supplies, body armor, and equipment to counter drones or mines.

      But individually, members do send arms. European allies provided 60% of the military support that Ukraine received in 2024. NATO coordinates those weapons deliveries via a hub on the Polish border and helps organize training for Ukrainian troops.

      NATO's troop plans A key part of the commitment for allies to defend one another is to deter Russia, or any other adversary, from attacking in the first place. Finland and Sweden joined NATO recently because of this concern.

      Under NATO's new military plans, 300,000 military personnel would be deployed within 30 days to counter any attack, whether it be on land, at sea, by air or in cyberspace. But experts doubt whether the allies could muster the troop numbers.

      It's not just about troop and equipment numbers. An adversary would be less likely to challenge NATO if it thought the allies would use the forces it controls. Trump's threats against US allies — including imposing tariffs on them — has weakened that deterrence.

      The US is carrying the biggest military burden Due to high US defence spending over many years, the American armed forces have more personnel and superior weapons but also significant transportation and logistics assets.

      Other allies are starting to spend more, though. After years of cuts, NATO members committed to ramp up their national defence budgets in 2014 when Russia illegally annexed Ukraine's Crimean Peninsula.

      After Russia's full-scale invasion of Ukraine in 2022, the NATO allies agreed to make 2% of GDP the minimum spending level. Last year, 22 countries were expected to hit that target, up from only three a decade ago.

      In The Hague, the allies were expected to up the ante to 3.5%, plus a further 1.5% for things like improving roads, bridges, ports and airfields or preparing societies to deal with future conflicts. Whether they will now remains an open question. (AP) NSA NSA

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