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    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    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
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
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    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    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
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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.

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      'Hong Kong Summer Viva': Calling All Fans to Dive into Festivals, Games and Parties – Only in Hong Kong!

      July 11, 2025

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      Hong Kong (NewsVoir) This summer, Hong Kong invites the world to experience “Hong Kong Summer Viva,” a season-long celebration of everything we love about summer, with exclusive experiences, parties and adventures for every type of fan. From theme park parties and island escapes to action-packed sports events, buzzing fairs and surprise pop-ups, Hong Kong Summer Viva is your invitation to dive headfirst into a summer to remember – only in Hong Kong.

      Global Fans Unite for Fun-Filled Theme Park Celebrations Get ready to groove into the summer party vibes! Starting June 28, Hong Kong Disneyland Resort (HKDL) has begun its 20th anniversary celebrations with The Most Magical Party of All, a year-long extravaganza filled with three unmissable festivities, including a brand-new anniversary-only castle stage show, largest-ever parade and the grandest nighttime spectacular in HKDL’s history. At this day-to-night party, tempt your tastebuds with more than 80 new food and drink creations, complete your party look with over 300 all-new 20th anniversary merchandise, and receive a complimentary digital party photo via the Disney PhotoPass mobile app.

      In collaboration with the Hong Kong Tourism Board, the Resort is introducing a limited-time postcard redemption offer. Fans registered on the DHK who spend HK$100 or more in a single transaction at any merchandise store in Hong Kong Disneyland Park can receive a complimentary, resort exclusive postcard* (while stocks last).

      Guests can mail the postcard for free using the in-park mailbox, sharing the magic of the 20th Anniversary celebration with friends and family around the world. Make your summer even more magical with this special keepsake! Over at Ocean Park Hong Kong, the fun continues with Ocean Park Summer Splash 2025. From 5 July to 24 August, panda lovers are in for a treat as they celebrate the first birthday of the Hong Kong’s panda twins – Jia Jia and De De, and meet their newest IP character installations, which are dressed in summer gear to welcome all visitors. Ocean Park Hong Kong will also offer special deals for overseas panda fans, including its first-ever “Twin Park Package Ticket” granting access to both parks. Guests can also receive an exclusive summer goodie bag filled with a panda luggage tag and park vouchers, with first come first serve purpose.

      The family-friendly Summer Splash 2025 also features water gun battle zones, a giant ball pool and adorable water play areas for little ones. As day turns to night, Water World Ocean Park Hong Kong will be turning up the energy with a splash-tastic dance party, including live DJ sets and picture-perfect sea views.

      Football Fever Takes Over Hong Kong Kicking off at the end of July, Hong Kong Football Festival 2025 will bring together four of the world’s top clubs – Liverpool FC, AC Milan, Arsenal, and Tottenham Hotspur – to face off at the new Kai Tak Stadium. Fans can catch two blockbuster matches on separate days: Liverpool FC vs. AC Milan on 26 July, and Arsenal vs. Tottenham Hotspur on 31 July, marking the first North London Derby played outside the UK.

      Exclusive open training sessions at Kai Tak Stadium offer rare access on 24 July (Liverpool FC), 29 July (Tottenham Hotspur), and 30 July (Arsenal). AC Milan’s Open Training will be held at the Hong Kong Stadium on 25 July. Additional club-led events and activities for fans will be announced. Please stay tuned! For Cristiano Ronaldo fans, the CR7® LIFE Museum Hong Kong will be on display for the first time in Asia, starting July 7 at K11 MUSEA. First signature museum of the football GOAT in Asia offers a captivating journey through the life and career of football’s greatest icon, Cristiano Ronaldo. This unique exhibition offers fans an unprecedented glimpse into the world of football through the eyes of one of the sport's most celebrated players.

      Sun-Soaked Islands and Marine Adventures for Outdoor Enthusiasts Island-hopping in Hong Kong offers more than just sun and sea – it’s a gateway to natural wonders and rich marine life, too. From June to August, travellers can enjoy a breezy two-hour “Sai Kung Volcanic Rock Region Boat Tour” with Recommended Geopark Guide (R2G) across this scenic UNESCO-listed corner of Hong Kong, where dramatic coastal formations like the Elephant Trunk Cave await.

      UNESCO Global Geopark - R2G Boat Tour of the Sai Kung Volcanic Rock Region Details: The Sai Kung Geopark boat tour runs from June to August, taking place every Tuesday, Saturday, and Sunday. Each day offers three rides at 9:00 AM, 12:00 PM, and 3:00 PM. The tour begins at Sai Kung Pier and follows a scenic route that includes a 30-minute stop at Sharp Island, followed by views of the bell-shaped sea arch, Basalt Island, Po Pin Chau, and Elephant Trunk Cave, before returning to Sai Kung Pier. The entire tour lasts approximately two hours.

      Tours are conducted in both English and Mandarin. The fee is HK$380 per person, with the same price applying to both adults and children. To join the tour, participants can register online at Trip.com.

      For a deeper dive beneath the surface, book your spot on a guided Coral Exploration Programme with the WWF Hong Kong Hoi Ha Marine Life Centre in the northeastern New Territories. You’ll glide over the marine park on a glass-bottomed boat, spot vibrant coral reefs and learn about local coral restoration efforts – a fascinating look at the city’s vibrant underwater ecosystem.

      Coral Exploration Tour Details: The Coral Exploration Tour is available from June to September and offers a unique opportunity to learn about Hong Kong's marine environment and the Hoi Ha Marine Park. Participants will explore the coral community in Hoi Ha and observe the vibrant corals of Hoi Ha Wan aboard a glass-bottomed boat. This activity is suitable for individuals aged 5 and above. The tour also includes a visit to a coral nursery facility.

      Round-trip transportation between Sai Kung and Hoi Ha Wan is provided. Tours are conducted in both English and Mandarin. The fee is HK$360 per person, with the same rate for both adults and children. To register, visit WWF Hong Kong’s booking page.

      2 Must-Visit Summer Fairs for Curious Minds Book lovers can look forward to two exciting events at the Hong Kong Convention and Exhibition Centre (HKCEC) in Wan Chai this summer. From 16 to 22 July, the Hong Kong Book Fair returns with the theme of the year, “Food Culture • Future Living”. It brings together publishers, authors and readers to promote the culture of reading through seminars with renowned authors from around the world, a range of cultural activities and the World of Art and Culture zone, all to inspire the public to explore reading the world.

      Then, from 25 to 29 July, the spotlight shifts to fandoms of a different kind with the five-day Ani-Com & Games Hong Kong (ACGHK), the city’s premier festival for anime, comics, gaming and cosplay. Whether you're a devoted manga enthusiast or just dipping your toes into the gaming world, this high-energy pop culture fest delivers an afternoon of colour, creativity and pure fun. ACGHK 2025 introduces a dedicated Tourist Fast Lane (Gate 1B) at normal ticket price for international visitors holding valid travelling documents.

      Even More Hong Kong Summer Events and Offers Besides attractions, hotels and Quality Tourism Services (QTS) Scheme-certified merchants are supporting HKTB’s “Hong Kong Summer Viva” thematic promotion. Starting on 23 June, locals and visitors can enjoy more than 100 summer dining and spending offers, including more than 20 of buy-one-get-one-free offers, covering merchandises and tourism products such as sweet soup drink, beverages, hotel afternoon tea sets and hotel buffet deals and many more. Various attractions and transport operators will also provide discounts and hospitality treats, such as free packages for round trip peak tram ride and Sky Terrace 428 admission ticket and water taxi tour around Victoria Harbour for HK$100. Further details will be announced in due course.

      Visit the Hong Kong Summer Viva page for full event details and insider tips. And don’t miss the revamped Discover Hong Kong travel platform, now featuring monthly event timelines, powerful search tools and up-to-date listings to help you plan the ultimate summer getaway.

      Click here to download high-res images.

      About Hong Kong Tourism Board (HKTB) The Hong Kong Tourism Board (HKTB) is a government-subvented body tasked to market and promote Hong Kong as a travel destination worldwide and enhance visitors’ experience once they arrive. These include making recommendations to the Government and other relevant bodies on the range and quality of visitor facilities.

      The HKTB’s missions are to maximise the social and economic contribution made by tourism to the community of Hong Kong and to consolidate Hong Kong’s position as a unique, world-class, and most desired destination.

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

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