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    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
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    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
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    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
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    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
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    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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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.
    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
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Trump says US must send more weapons to Ukraine, days after ordering pause in deliveries

      July 8, 2025

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      Washington, Jul 8 (AP) President Donald Trump said Monday the US will have to send more weapons to Ukraine, just days after ordering a pause in critical weapons deliveries to Kyiv.

      The comments by Trump appeared to be an abrupt change in posture after the Pentagon announced last week that it would hold back delivering to Ukraine some air defence missiles, precision-guided artillery and other weapons because of what U.S. officials said were concerns that stockpiles have declined too much.

      “We have to," Trump said. ”They have to be able to defend themselves. They're getting hit very hard now. We're going to send some more weapons — defensive weapons primarily." The pause had come at a difficult moment for Ukraine, which has faced increasing — and more complex — air barrages from Russia during the more than three-year-long war. Russian attacks on Ukraine killed at least 11 civilians and injured more than 80 others, including seven children, officials said Monday.

      The US turnaround on weapons for Ukraine The move last week to abruptly pause shipments of Patriot missiles, precision-guided GMLRS, Hellfire missiles and Howitzer rounds and weaponry took Ukrainian officials and other allies by surprise.

      The Pentagon affirmed late Monday that at Trump's direction, it would resume weapons shipments to Ukraine “to ensure the Ukrainians can defend themselves while we work to secure a lasting peace and ensure the killing stops." Still, spokesman Sean Parnell added that its framework for Trump to evaluate military shipments worldwide continues as part of “America First” defence priorities.

      Trump, speaking at the start of a dinner he was hosting for Israeli Prime Minister Benjamin Netanyahu at the White House on Monday, vented his growing frustration with Russian President Vladimir Putin. Trump has struggled to find a resolution to the war in Ukraine but maintains he's determined to quickly conclude a conflict that he had promised as candidate to end of Day One of his second term.

      He has threatened, but held off on, imposing new sanctions against Russia's oil industry to try to prod Putin into peace talks.

      Sen Lindsey Graham said last week that Trump has given him the go-ahead to push forward with a bill he's co-sponsoring that calls, in part, for a 500% tariff on goods imported from countries that continue to buy Russian oil. The move would have huge ramifications for China and India, two economic behemoths that buy Russian oil.

      “I'm not happy with President Putin at all," Trump said Monday.

      Russia's transport minister is found dead Separately, Russia's transport minister was found dead in what authorities said was an apparent suicide — news that broke hours after the Kremlin announced he had been dismissed by Putin.

      The firing of Roman Starovoit followed a weekend of travel chaos — airports grounded hundreds of flights due to the threat of drone attacks from Ukraine. Russian officials did not give a reason for his dismissal.

      Hundreds of flights were canceled or delayed at airports in Moscow and St. Petersburg, but Russian commentators said the air traffic disruptions have become customary amid frequent Ukrainian drone raids and were unlikely to have triggered his dismissal.

      Starovoit, 53, served as Russia's transport minister since May 2024. Russian media have reported that his dismissal could have been linked to an investigation into the embezzlement of state funds allocated for building fortifications in the Kursk region, where he served as governor before being appointed transportation minister.

      The alleged embezzlement has been cited as one of the reasons for deficiencies in Russia's defensive lines that failed to stem a surprise Ukrainian incursion in the region launched in August 2024.

      Russia fired more than 100 drones at civilian areas of Ukraine overnight, authorities said.

      Russia recently has intensified its airstrikes on civilian areas. In the past week, Russia launched some 1,270 drones, 39 missiles and almost 1,000 powerful glide bombs at Ukraine, Ukrainian President Volodymyr Zelenskyy said Monday.

      Russia's bigger army also is trying hard to break through at some points along the roughly 1,000-kilometer (620 miles) front line, where Ukrainian forces are severely stretched.

      Ukraine calls for more military aid The strain of keeping Russia's invasion at bay, the lack of progress in direct peace talks and last week's halt of some promised US weapons shipments have compelled Ukraine to seek more military help from the US and Europe.

      White House spokesperson Karoline Leavitt said Monday that the pause in weapons to Ukraine came as part of a “standard review of all weapons and all aid” that the US “is providing all countries and all regions around the world. Not just Ukraine.” Leavitt said Defence Secretary Pete Hegseth ordered the global review to ensure that “everything that's going out the door aligns with America's interests.” Zelenskyy says Ukraine has signed deals with European allies and a leading US defence company to step up drone production, ensuring Kyiv receives “hundreds of thousands” more this year.

      “Air defence is the main thing for protecting life,” Zelenskyy wrote Monday on Telegram.

      That includes developing and manufacturing interceptor drones that can stop Russia's long-range Shahed drones, he said.

      Extensive use of drones also has helped Ukraine compensate for its troop shortages on the front line.

      One person was killed in the southern city of Odesa, another person was killed and 71 were injured in northeastern Kharkiv, and falling drone debris caused damage in two districts of Kyiv, the capital, during nighttime drone attacks, Ukrainian authorities said.

      Russian short-range drones also killed two people and injured two others in the northern Sumy region, officials said. Sumy is one of the places where Russia has concentrated large numbers of troops.

      Also, nine people were injured and seven killed in the Donetsk region of eastern Ukraine, regional head Vadym Filashkin said.

      More Russian long-range drone strikes Monday targeted military mobilization centers for the third time in five days, in an apparent attempt to disrupt recruitment, Ukraine's Army Ground Forces command said.

      Regional officials in Kharkiv and southern Zaporizhzhia said at least 17 people were injured.

      Meanwhile, Russia's Defence Ministry said Monday that its troops shot down 91 Ukrainian drones in 13 Russian regions overnight, as well as over the Black Sea and the Crimean Peninsula, which was illegally annexed by Russia in 2014. (AP) NSA NSA

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