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    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
    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
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    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    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
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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.

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      28 FDI proposals cleared

      July 4, 2008

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      Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 24th June, 2008, Finance Minister, Shri P. Chidambaram has approved 28 Proposals of Foreign Direct Investment amounting approximately to Rs. 1327.7251 Crore.  The proposals relate to Ministries/Departments, namely Chemicals & Petro-chemicals, Industrial Policy & Promotion, Information & Broadcasting, Urban Development, Tourism and Economic Affairs.            

      Following is the details of 28 approved proposals:

      Sl. No.

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In crore)

      ATOMIC ENERGY

      1

      M/s Global Energy Mining and Minerals KFT., Hungary

      Induction of FDI up to 74% in Mining and Separation of Titanium Bearing Minerals and Ores.

      24.05

      COMMERCE

      2

      M/s Giordano Fashions (India) Pvt. Ltd.

      To establish a chain of Single brand retail stores.  Press Note 3 of 2006 attracts.

      5.09

      3

      M/s Marks & Spencer Plc.

      Induction of 51% FDI for single brand retail trading.  Press Note 3 of 2006 attracts.

      .0051

      4

      M/s Pearle Europe B.V.

      Induction of 50% FDI for single brand retail trading.  Press Note 3 of 2006 attracts.

      Not indicated

      ECONOMIC AFFAIRS

      5

      M/s Aquamarine Resorts Pvt. Ltd., Mumbai

      To acquire the status of foreign owned Indian holding cum operating company to make downstream investment.  Proposal attracts Press Note 1 of 2005.

      90.00

      6

      M/s International Asset Reconstruction Co. Pvt. Ltd., New Delhi

      To issue and allot equity shares and compulsorily convertible preference shares up to 19.56% of its post-issue paid-up share capital, on a fully diluted basis.

      24.20

      7

      M/s Onmobile Global Ltd., Bangalore

      Acquisition of 100% equity share capital of a foreign company by share swap and cash basis.

      No Fresh Inflow

      8

      M/s Shetruns Hills Pte Ltd., Samoa

      Transfer of shares from erstwhile OCB to NRs.

      0.66

      FINANCIAL SERVICES

      9

      M/s HSBC Violet Investments (Mauritius), Mauritius

      Induction of foreign equity by way of acquisition and open offer of equity shares and conversion of operating company into an operating cum holding company to make further downstream investment.

      No Fresh Inflow

      HEALTH

      10

      M/s Midmark Corporation, USA

      Induction of FDI up to 49% in a company engaged in the manufacture of SSI reserved items.

      1.11

      INDUSTRIAL POLICY & PROMOTION

      11

      M/s Simbiosys Biowares India Pvt. Ltd., Bangalore

      Conversion of operating company into holding cum operating company.

      No Fresh Inflow

      12

      M/s Mikuni Corporation, Japan

      To establish a WOS to undertake the business of manufacture, assembly and sale etc., of automotive components and other parts and sub-assemblies thereof for the two and three wheeler vehicles.  Proposal attracts Press Note 1 of 2005.

      20.00

      INFORMATION & BROADCASTING

      13

      M/s Getit Infoservices Ltd., New Delhi

      Issue of equity shares and zero coupon compulsorily convertible preference shares.  The Company is engaged in the publishing of scientific magazines/ specialty journals.

      23.00

      PETROLEUM

      14

      M/s ENI UK Holding PLC, UK

      Acquisition of shares of a Company engaged in the exploration, development and production of crude oil and natural gas in India.  Proposal attracts Press Note 1 of 2005.

      26.11

      POWER

      15

      M/s BBI Power Krishnapatnam Company, Hyderabad

      Issue of shares against remittances already received.

      No Fresh Inflow

      URBAN DEVELOPMENT

      16

      M/s Apricot Realtors Pvt. Ltd., Chennai

      To acquire the status of foreign owned Indian holding cum operating company to and to make downstream investment.

      No Fresh Inflow

      17

      M/s Macquarie India Properties Pty Ltd., Australia

      To set up a WOS to carry out investment advisory and financial consultancy services to the real estate investment industry and undertake investment research activities in connection therewith.  Proposal attracts Press Note 1 of 2005.

      2.25

      18

      M/s Eldeco Infrastructure & Properties Ltd., New Delhi

      Induction of foreign equity by way of subscribing to and acquisition of equity shares and change in status from operating company into operating cum holding company.

      195.67

      COMMERCE

      19

      M/s Esys Information

      To include some more trading/ manufacturing activities in existing activities and to do the business on wholesale basis and institutional sales.  To procure some of the items from the Small Scale Industries.

      No Fresh Inflow

      INDUSTRIAL POLICY PROMOTION

      20

      M/s Virgo Engineers Ltd.

      Transfer of Shares from NRI to NR.  The original investment was not received in foreign exchange since at the time of investment the applicant was resident of India and the shares were issued as bonus shares.

      No Fresh Inflow

      21

      M/s Parryware Roca Pvt. Ltd.

      To increase foreign equity from 50% to 100% and conversion from operating company to operating cum holding company to make downstream investment.

      741.48

      22

      M/s Mitsui & Co(I) Pvt. Ltd.

      To issue equity shares to square off the Security deposit amount.

      11.60

      23

      M/s G.E. Global Sourcing India Pvt. Ltd.

      Conversion of operating company to holding cum operating company to make downstream investment.

      No Fresh Inflow

      ECONOMIC AFFAIRS

      24

      M/s A.W. Faber Castell India Pvt. Ltd.

      Amalgamation/ merger of companies as approved by the High Court.

      No Fresh Inflow

      INFORMATION & BROADCASTIN

      25

      M/s Macmillian India Ltd.

      Publication of specialty magazine.

      No Fresh Inflow

      26

      M/s Multiscreen Media Pvt. Ltd.

      Issue of equity shares to resident and NR.  The 100% FDI is permissible through FIPB.

      158.39

      ECONOMIC AFFAIRS

      27

      M/s ITP Publishing India Pvt. Ltd., Mumbai

      Induction of foreign equity up to 100% in a company engaged in the activities of publishing of specialty magazines

      4.10

      COMMERCE

      28

      M/s Mokshayug Access (India) Pvt. Ltd., Bangalore

      Conversion of operating company into operating cum holding company to make downstream investment and to establish a WOS.

      0.01

      2.         The proposal of M/s R.E.D. Graniti SPA has been advised to access auto route.

      3.         The following 11 (eleven) proposals have been deferred:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s Interglobe Enterprises Ltd., New Delhi

      To set up a new JV to undertake the operation and management of one or more duty free shops.

      2

      M/s Asia Motorworks Holdings Ltd., Mumbai

      Induction of foreign equity by way of subscribing to fully and compulsorily convertible debentures and conversion of operating company into an operating cum holding company.

      3

      M/s Perfect Circle India Ltd., Maharashtra

      Induction of FDI up to 51% in a company engaged in manufacture of internal combustion piston engines and other parts and accessories.  Proposal attracts Press Note 1 of 2005.

      4

      M/s Russell Square Holding B.V. Neetherland

      To setup a JV to undertake the business of Advertising.  Proposal attracts Press Note 1 of 2005.

      5

      M/s Mediacom Worldwide Incorporated, USA

      Setting up of a JV.

      6

      M/s Amar Ujala Publications Ltd.

      Amalgamation of two companies consequent upon the order of Hon'ble High court and induction of fresh FDI

      7

      M/s Transcend Infrastructure Ltd.

      Increase in FDI beyond 49% in building towers, acquiring towers or securing management rights of towers for the purpose of leasing or licensing the shares use of these towers to communications and broadcasting.

      8

      M/s RISH PTE Ltd., Cock Islands

      Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval.

      9

      M/s RISH PTE Ltd., Cock Islands

      Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval.

      10

      M/s JSW Infrastructure Ltd., Mumbai

      Ex-post-facto approval for having undertaken the activity of holding company.

      11

      M/s Broadband Pacenet (India) Pvt. Ltd., Mumbai

      Induction of foreign equity  by way of subscribing to or acquisition of shares up to 74% equity of the company

       

      BSC/SS/DN-171/08

       

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