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    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
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    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
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    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
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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
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.

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      Syngene International announces third year of STEM scholarship and mentorship program for women in collaboration with RICH

      July 10, 2025

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      • 40 women from tier two and three institutions selected for the third cohort of the program • Over 50 women benefitted from the successful conclusion of the first and second cohort HYDERABAD, India, July 10, 2025 /PRNewswire/ -- Syngene International Ltd., an integrated research, development, and manufacturing services organization, in partnership with the Research and Innovation Circle of Hyderabad (RICH) and Biocon Foundation, announced the launch of the third cohort of its flagship scholarship, mentoring and industry orientation program for women in STEM (science, technology, engineering and mathematics). Designed to empower women from tier two and three institutions, the program offers structured mentorship, financial assistance and hands-on research exposure, which includes practical experience in real lab environments. Over the past two years, it has grown into a strong career launchpad, benefiting more than 50 women.

      This year, 40 women students are participating in the program, following a rigorous evaluation process that considered academic merit, research orientation and socio-economic background, with a focus on supporting those from low-income or financially underserved families. Their learning journey will conclude with project-based internships with pharmaceutical and biotechnology companies across India, as well as premier government research institutions such as the Council of Scientific and Industrial Research – Centre for Cellular and Molecular Biology (CSIR–CCMB). These internships are embedded within a broader development framework that includes technical seminars and industry exposure visits, designed to build research skills, expand professional networks and inspire long-term careers in STEM.

      Despite growing awareness about STEM careers, many women from smaller cities in India still face significant challenges that limit their advancement in these fields. Constraints such as inadequate exposure to scientific opportunities, financial limitations, and a shortage of mentors often prevent them from fully participating in the professional science community. The Syngene–RICH program is addressing these issues by offering scholarships, personalized mentorship, and hands-on research experience, effectively bridging the divide between academic knowledge and real-world career prospects.

      Pramuch Goel, Head of Corporate Affairs, Syngene International Limited, said, "As an innovation-driven company, Syngene sees this program as an investment in India's scientific future. Beyond individual growth, it is helping create a stronger, more inclusive research ecosystem by nurturing talent from institutions that often lack access to cutting-edge infrastructure or networks. Supporting such initiatives is part of our broader commitment to building long-term scientific capacity and driving meaningful change across the industry." During the launch of this cohort, Dr. Parvinder Maini, Scientific Secretary, Office of the Principal Scientific Adviser, Government of India; Dr. Shailja Donempudi, Distinguished Scientist and Head of the Business Development Group at the Council of Scientific & Industrial Research (CSIR), Government of India; Ms. Rashmi Pimpale, CEO, Research and Innovation Circle of Hyderabad (RICH); and Dr. Anupama Shetty, Mission Director, Biocon Foundation, were in attendance.

      Measurable impact Ms. Revathi Karamalla, one of the participants who was part of the second cohort, shared, "Before this program, I wasn't sure what a career in STEM looked like. I had never been inside an industry lab or interacted with professionals who could guide me. Through the mentorship, seminars, and hands-on exposure, I gained practical skills and the confidence to shape my career path." "Coming from a small village, I never imagined I'd get a chance like this, to work in a leading pharmaceutical company and be mentored by experienced scientists. This program is helping me understand what it takes to build a career in science. I'm excited to gain new skills and grow through this experience," said Ms. Abhirami K, a participant from the current batch.

      Dr. Parvinder Maini, Scientific Secretary, Office of Principal Scientific Advisor Government of India, said, "This programme is more than an educational intervention, it is a regional solution model that connects science to society, talent to opportunity, and learning to livelihood. Supporting women in STEM cannot rest on isolated programmes alone. It demands collaboration, sustained mentorship, and inclusive environments. What RICH, Biocon Foundation, and Syngene have built here is not just impactful, it is essential to India's scientific and social progress." Dr. Anupama Narayan Shetty, Mission Director, Biocon Foundation, said, "Advancing equity in STEM is critical to unlocking India's full scientific potential. This program exemplifies how targeted support through scholarships, mentorship and exposure to research environments can empower talented women to pursue meaningful careers in science. It's encouraging to see students grow in confidence, develop professional skills and begin to visualise long-term pathways in STEM. Syngene and Biocon Foundation remain committed to enabling inclusive opportunities that strengthen the scientific talent pipeline across the country." Ms. Rashmi Pimpale, CEO, Research and Innovation Circle of Hyderabad (RICH), said, "In just two years, we have seen how structured support can turn potential into progress. From tier two and three colleges to industry labs and PhD programmes, these young women are rewriting the narrative. The momentum behind this initiative shows what's possible when government, industry, and research institutions come together with a shared commitment to equity and inclusion in science. The response and success we have seen reinforce that this is not a nice-to-have, it's a must-have." Program growth and momentum Launched in 2022 with 21 students, the program has steadily expanded in scale and impact. The second cohort introduced new components such as a biotech industry visit and a national roundtable on Women in STEM. Several students progressed to PhD programs, secured full-time research roles or extended their internships, highlighting the program's role in shaping research careers.

      About Syngene Syngene International Ltd. (BSE: 539268) (NSE: SYNGENE) (ISIN: INE398R01022) is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. Syngene's more than 5600+ scientists offer both skills and the capacity to deliver great science, robust data security, and world class manufacturing, at speed, to improve time-to-market and lower the cost of innovation. With 2.5 Mn sq. ft of specialized discovery, development, and manufacturing facilities, Syngene works with biotech companies pursuing leading-edge science as well as multinationals, including BMS, GSK, Zoetis and Merck KGaA. For more details, visit www.syngeneintl.com. For the Company's latest Environmental, Social, and Governance (ESG) report, visit https://esgreport.syngeneintl.com .

      Research and Innovation Circle of Hyderabad (RICH) Research and Innovation Circle of Hyderabad (RICH) is the Hyderabad Science & Technology (S&T) Cluster, an initiative spearheaded by the Office of Principal Scientific Advisor (PSA) to the Government of India. Launched in 2017 by the Government of Telangana, RICH acts as a facilitator and aims to foster greater collaboration between various entities in the research and innovation space. RICH has initiated multidisciplinary projects in the areas of agriculture, nutrition, health, and waste management. These projects leverage the local expertise and strengths of Telangana, and facilitate ease of access to funding from the relevant central ministries.

      About Biocon Foundation Biocon Foundation, the Corporate Social Responsibility arm of Biocon, Biocon Biologics and Syngene International, is working to empower marginalized communities since 2005. Biocon Foundation partners with the society to promote social and economic inclusion. It has thus made significant investments in enhancing access to quality healthcare, education and civic infrastructure along with environmental sustainability initiatives. These programs create a momentum to elevate the vulnerable and underserved sections of the society. The Foundation has built a strong reputation for the quality of its programs and their impact in addressing social, humanitarian and environmental challenges faced by the communities it serves. The programs have contributed to realizing the vision of empowering and integrating the underprivileged into the social and economic mainstream of India.

      Photo: Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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