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    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
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    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.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.

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      Shashi Tharoor Delivers Lectures on India’s Values, Democracy & Civilization at Oxford and London organized by O.P. Jindal Global University

      July 9, 2025

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      Oxford & London, UK, 9 July 2025: In a series of distinguished lectures and discourses held in the United Kingdom, Dr. Shashi Tharoor, Member of Parliament, India, spoke about the enduring lessons from India’s civilizational heritage and the evolution of the Indian Constitution at 75. His lectures offered a powerful reflection on the trajectory of India’s constitutional democracy—its successes in protecting rights and freedoms, and the challenges that lie ahead as India approaches 100 years of independence in 2047. The landmark events were organized by O.P. Jindal Global University (JGU), India’s leading private university and an Institution of Eminence. The lectures were held at University College, Oxford and Somerville College, Oxford, and at the Honourable Society of the Inner Temple in London.

      At University College, Oxford, Dr. Tharoor delivered a compelling lecture on the theme: “An Immemorial Civilization: Lessons from India, Lessons for India.” He took the distinguished audience on a journey through more than 2,500 years of Indian history, emphasizing the nation’s legacy of religious tolerance, non-violence, and social justice. There are lessons to be drawn from India’s historical and mythical figures and also from modern reformers and leaders like Vivekananda and Mahatma Gandhi. India’s secularism and egalitarianism have been shaped by its ancient wisdom. No nation can be called democratic and progressive unless it combats the injustices faced by the marginalized and subjugated. Indian civilization, at its most luminous moments, has done exactly that, and our quest for modernist equality has always been forged through a struggle against orthodoxy, casteism, superstition and fundamentalist exclusion,” Dr. Tharoor said.

      He continued, “The task before us is not just to remember India, but to reimagine it—to draw from the deep wells of our immemorial inheritance the ethical resolve to confront contemporary inequities with courage, conviction and moral clarity, thus ensuring greater rights to the disenfranchised and those on the margins of our society.” In his address, Dr. Tharoor explained how, since the time of Ashoka, the great Mauryan emperor, the Indian ethos has promoted not merely tolerance but acceptance. “India and its memorial civilization has lessons for the world today: that one is free to strive and seek and arrive at one’s own conception of the Almighty. And the greatest truth is to acknowledge the existence of other truths! As Vivekananda said, Hinduism is a religion that taught the world not just tolerance, but acceptance.” At Somerville College, Oxford, Dr. Tharoor eloquently traced the journey of the Indian Constitution in a lecture titled “Indian Constitution at 75: Protecting Rights, Expanding Freedoms & Empowering Citizens.” He emphasized the enduring importance of the Constitution’s foundational ideals in guiding India through complex and diverse aspirations. “Our Constitution represents not only a legal framework but a social contract that has bound our diverse nation together. As we mark 75 years of its adoption, we must recommit ourselves to defending the rights and freedoms it enshrines for every citizen,” Dr. Tharoor remarked.

      Professor (Dr.) C. Raj Kumar, Founding Vice Chancellor of O.P. Jindal Global University, introduced Dr. Tharoor at the events and spoke on the significance of global dialogue on constitutional values, democratic governance, and sustainability. “This occasion at Oxford reaffirms our belief that universities must be active participants in shaping democratic societies. The Indian Constitution is a living testament to the strength of democratic ideals, and Dr. Tharoor’s insights remind us of the need to protect, expand and renew those values across generations and borders,” said Professor Kumar. He added, “Dr. Tharoor is a leading public intellectual, writer, author and a beacon of the democratic process in India, having won four times from his constituency! This event is a celebration of intellectual engagement and institutional purpose. Dr. Tharoor’s powerful lecture inspires us to reaffirm our commitment to democratic values and global cooperation. As a global university, we are proud to bring together thought leaders and changemakers who shape the future of our world.” The discussions were further enriched by a response from Professor (Dr.) Shailendra Raj Mehta, O.P. Jindal Distinguished University Professor, who provided academic commentary and broader perspectives on the challenges and opportunities of constitutional governance.

      JGU’s Sustainable Development Report 2025 was also presented during the event by Professor Padmanabha Ramanujam, Dean of the Office of Academic Governance at JGU. The report highlights the university’s steadfast commitment to advancing the United Nations Sustainable Development Goals (SDGs) through its teaching, research, and institutional practices.

      The event began with welcome remarks by Professor (Dr.) Radhika Khosla, Research Director at the Oxford India Centre for Sustainable Development.

      At the Honourable Society of the Inner Temple in London, O.P. Jindal Global University hosted another public lecture by Dr. Tharoor on the theme: “India at 2047: The Future of the World’s Largest Democracy.” Offering deep insights into the current state of Indian democracy, its institutional achievements, and the need for vigilance in safeguarding its constitutional values, Dr. Tharoor said: “India’s democratic journey has been both remarkable and resilient, but it faces serious tests in the years ahead. Institutions matter, but the spirit behind those institutions matters even more.” He added, “I commend O.P. Jindal Global University for fostering important conversations on democracy and development at the global level.” Mr. Naveen Jindal, Chancellor of O.P. Jindal Global University and Member of Parliament (Lok Sabha), India, also addressed the distinguished gathering. He emphasized the need for a forward-looking vision for India in 2047, grounded in five core values: • Education: “Especially primary education, as the foundation needs to be strong. It’s a drop in the ocean to have started two universities—O.P. Jindal Global University and O.P. Jindal University in Chhattisgarh, which is an engineering university.” • Economy: “India’s economy needs to be strong, one that creates jobs and wealth for the nation. There needs to be a lot of action, risk-taking, investment and enterprise.” • Entrepreneurship: “The private sector in India is driven by very enterprising people. We need to nurture them and respect the wealth creators more.” • Energy: “Our future must be powered increasingly by clean, renewable, and sustainable energy. Empowerment means access to affordable energy for both the rich and the poor.” • Equality: “This is the soul of a true democracy, which lies in equality of opportunity—something we must ensure for all 1.4 billion of our citizens.” (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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