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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
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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.

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      VARSHNE B, RADHESH AGRAHARI, RISHABH KUMAR ANNOUNCED AS FINALISTS OF INDIA JURY 2025 FOR INDIA’S BIGGEST SUSTAINABILITY AWARD – THE R|ELAN CIRCULAR DESIGN CHALLENGE (CDC)

      July 15, 2025

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      ORGANISED BY RELIANCE INDUSTRIES LIMITED’S - R|ELAN IN PARTNERSHIP WITH THE UNITED NATIONS IN INDIA AND LAKMĒ FASHION WEEK National, July 15th 2025: Varshne B, Founder of CRCLE; Radhesh Agrahari, Founder of Golden Feathers; and Rishabh Kumar, Founder of Farak, have been declared as the finalists of the India Jury Meet for R|Elan’s Circular Design Challenge (CDC) in Mumbai.

      Originating in India the CDC Award is a global activation aimed at empowering young fashion designers and entrepreneurs to showcase their circular innovations. With a focus on nurturing environmental champions, the platform promotes sustainable practices in the fashion and textile value chain. Through mentorship, market access and promotion, the program propels the next generation of leaders who are redefining the industry's approach to circularity. This partnership demonstrates how industry, the fashion eco-system and multilateral organisations such as the UN can come together to effect catalytic change towards circularity and sustainable thinking.

      Proudly presented by R|Elan, the next-generation fabric brand of Reliance Industries Limited (RIL), in partnership with the United Nations in India and Lakmē Fashion Week, the R|Elan Circular Design Challenge (CDC) is committed to reducing waste and fostering a greener, more sustainable future.

      Varshne B, Founder of CRCLE CRCLE is a forward-thinking fashion and lifestyle brand rooted in the principles of circularity and sustainability. With a 360-degree approach to responsible production, the brand integrates circular design thinking at every stage—from concept to end-of-life. CRCLE’s product development focuses on versatility, durability, and minimal waste, using innovative materials such as Weganool, banana leather, stainless steel scraps, and post-consumer fabrics. Each element, including tags made from recycled cotton rags and reused trims, is intentionally designed to reduce environmental impact. More than a brand, CRCLE represents a system-wide shift towards regenerative, thoughtful fashion that aligns creativity with ecological responsibility.

      Radhesh Agrahari, Founder of Golden Feathers Golden Feathers is a circular social enterprise that transforms chicken feather waste into the world’s 6th natural, biodegradable woolen fiber. With sustainability at its core, the brand uses a patented 27-step natural sanitization process to produce eco-friendly textiles and wood-free paper through a zero-waste, chemical-free model. Merging indigenous craft with scientific innovation, Golden Feathers creates durable, compostable products rooted in cultural heritage and environmental responsibility.

      Rishabh Kumar, Founder of Farak Rooted in traditional Indian craftsmanship, the Farak works with rural artisans to create sustainably made pieces using handspun, handwoven organic cotton and natural dyes. It revives age-old techniques like block printing with century-old wooden blocks, passed down through generations. All products are crafted without electricity, ensuring a zero-carbon footprint. Farak uses 100% biodegradable and compostable packaging materials like Kraft paper and wood pulp.

      Mr. Rakesh Bali, Senior Vice President and Head of Marketing at Reliance Industries Limited commented: "Congratulations to the finalists - Varshne B, Radhesh Agrahari, Rishabh Kumar of the India Jury Meet of the R|Elan Circular Design Challenge. This platform, born in India and now global in its reach, reflects our deep commitment at Reliance to nurturing a new generation of changemakers—designers and entrepreneurs who are not only creative but also conscious. Through the Circular Design Challenge, we aim to foster innovation rooted in sustainability, waste reduction, and circularity. It’s heartening to see such incredible talent from our country take up the mantle of building a greener fashion future. We are proud to support this movement that brings together industry, multilateral partners, and the design community to drive meaningful, lasting change.” Mr. Jaspreet Chandok, Group Vice President, Reliance Brands Limited, added: “The Circular Design Challenge is more than a platform—it is a movement that’s reshaping the foundation of fashion by prioritising sustainability, innovation, and cultural consciousness. At Reliance, we are proud to support initiatives that not only spotlight Indian creativity on the global stage, but also push the industry forward towards responsible design thinking. Congratulations to the finalists - Varshne B, Radhesh Agrahari, Rishabh Kumar who continue to inspire a future built on purpose, progress, and planet-positive action.

      The India Jury meet brought together a dynamic mix of creative and conscious minds shaping the future of fashion and sustainability. The panel featured industry leaders across fashion, media, business, and advocacy, including: Mehernaaz Dhondy, Editor-in-Chief at Grazia India; Isha Bhansali, Fashion Stylist & Consultant; Dia Mirza, Actor, Producer, Eco Investor, UNEP Goodwill Ambassador and SDG Advocate; Karishma Shahani Khan, Creative Director of Ka-Sha and CDC Design Mentor; Pranav Khanna, Circular Business Advisor & CDC Business Mentor; Rakesh Bali, Senior VP & Head of Marketing at RIL; and Darshana Gajare, Head of Sustainability at Lakme Fashion Week. Together, they evaluated collections through a well-defined lens of innovation, circularity, material exploration, social impact, and alignment with the UN Sustainable Development Goals.

      This competition will culminate at the upcoming edition of Lakmē Fashion Week in partnership with the Fashion Design Council of India (FDCI) in October. Varshne B, Founder of CRCLE; Radhesh Agrahari, Founder of Golden Feathers; and Rishabh Kumar, Founder of Farak, will join the finalists of the EU, APAC, and UK Jury Meets to participate in the finals, curating an international platform for sustainable fashion design talents worldwide. The winner of the R|Elan Circular Design Challenge (CDC) will be bestowed with a seed fund of INR 15L, the CDC Trophy, and a 6-month bespoke mentorship with Orsola De Castro & the team at Estethica.. Additionally, they will earn the spotlight with a standalone showcase at Lakmē Fashion Week x FDCI in March 2026.

      The R|Elan Circular Design Challenge's global reach is a milestone and a remarkable step towards a more sustainable and circular fashion industry.

      (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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