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    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
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    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
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
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    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
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    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.

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      Op Sindoor debate: Oppn seeks answers from govt on 'downed' Indian jets, why PoK not taken back

      July 28, 2025

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      New Delhi, Jul 28 (PTI) The Opposition on Monday targeted the government in Lok Sabha on "security lapses" that led to the Pahalgam attack, saying Home Minister Amit Shah must take responsibility for it, and demanded answers on how many Indian jets were downed during Operation Sindoor and why PoK was not taken back.

      Participating in a special discussion on Operation Sindoor, the Congress MPs questioned the government on the sudden halting of Operation Sindoor and asked "before whom did Prime Minister Narendra Modi surrender".

      Congress deputy leader in Lok Sabha Gaurav Gogoi asked when will India take back its Pakistan-occupied Kashmir (PoK) and also slammed the government over US President Donald Trump claiming "26 times" that he used trade to bring about a "ceasefire" between India and Pakistan.

      "If not today, then when will we take Pakistan-occupied Kashmir back?" Gogoi said.

      The Congress leader said Prime Minister Modi has been saying since the Uri and Pulwama attacks that "humne ghar mein ghus ke mara", "we destroyed terror infrastructure" and is making the same remarks even now after the "most horrendous" terror attack.

      He said the Opposition wants to know from PM Modi that if Pakistan was ready to kneel before India, "why did you stop and before whom did you surrender?" Noting that US President Donald Trump has claimed 26 times that he used the threat of trade to bring about a "ceasefire" between India and Pakistan, he said the American leader has also claimed five to six jets have been downed.

      "That is why we want to know from the defence minister, the country has the courage to listen to the truth, he must answer as to how many fighter jets were downed," Gogoi asked.

      "This information, this truth, is not just for Indian citizens; it is important for soldiers, they are also being lied to," he added.

      Gogoi said there are just "35 Rafale fighter jets in the country" and if some have been downed, "it is a big loss".

      He also asked why Defence Minister Rajnath Singh did not name China during his address in the Lok Sabha and said he must disclose how much support that country was providing to Pakistan during Operation Sindoor.

      Singh had initiated the discussion in the Lok Sabha on "India's strong, successful and decisive Operation Sindoor in response to the terror attack in Pahalgam".

      The government asserted in the Lower House it can go to any extent to uproot terrorism and warned that Operation Sindoor launched terror sites in Pakistan was on pause as the armed forces had achieved its desired objectives, but could resume in case of any misadventure by Islamabad. It also rejected Trump's claims on "ceasefire".

      Referring to Singh's speech, Gogoi said he gave a lot of information, but did not say, as the defence minister, how the terrorists came to Pahalgam.

      "The country wants to know ... 100 days have passed, but this government has not brought the terrorists to justice," he said.

      Taking on the home minister, he said he made claims that the backbone of terrorism has been broken, but the Uri and Pahalgam incidents still happened.

      "Who will take responsibility, the (Jammu and Kashmir) Lieutenant Governor? It is the home minister who must take responsibility. You cannot hide behind the LG. This government is ... so weak that it blamed even tour operators for the Pahalgam attack," the Congress leader said.

      Congress MP Deepender Singh Hooda demanded that India should not play cricket with Pakistan at a time when Operation Sindoor is going on.

      Hooda also batted for modernisation of Indian defence forces and an increase in the defence budget.

      He questioned the "silence" of Prime Minister Modi on claims made by US President Trump of brokering peace between India and Pakistan.

      The government has to decide its relationship with the US, he said, adding that India should ask Trump to stop speaking on India-Pakistan issues.

      The Rohtak MP added that the government should disclose the "terms of the ceasefire" with Pakistan.

      Taking on the government for halting Operation Sindoor at a time when India's security forces had an edge, TMC MP Kalyan Banerjee questioned the announcement of "ceasefire" and likened it to a player "declaring the innings" on the brink of scoring a century.

      "... Have you ever heard that a player batting at 90 and heading towards a century, declare the innings. Only Modiji can do this, no one else... It was a matter of completing 100 runs, ended up being at 90," he said.

      He also asked why PM Modi did not "counter" Trump "even once" on his claims made in a social media post on the role of the US in reaching the ceasefire.

      In a dig at the prime minister, the TMC MP said that in front of the US President, Modi's stature "gets reduced", and his "chest shrinks from 56 to 36 inches".

      NCP (SP) member Supriya Sule questioned the government's handling of Operation Sindoor, saying it cannot be called a success until the terrorists responsible for Pahalgam are caught.

      Urging External Affairs Minister S Jaishankar to reflect on the global calls for de-escalation, she referred to BJP MP Tejasvi Surya's own question about the objective of the war and highlighted the anguish of victims’ families, with one repeatedly asking her, “When will my father get justice?” Sule said Kashmir, once seen as paradise, had become a nightmare for many and mere compensation without jobs or accountability was not enough.

      Samajwadi Party MP Ramashankar Rajbhar said the country wanted "Operation Tandoor" after the Pahalgam terror attack to roast the terrorist responsible for it, and not Operation Sindoor.

      He accused the government of failing to act decisively and questioned the "delay" in the operation, saying that a mission that should have been initiated in three days was carried out after 17 days.

      "The country was so angry (over the Pahalgam attack) that by the third day, people wanted not Operation Sindoor, but Operation Tandoor, that is to throw the terrorists into that tandoor. But instead, the operation happened 17 days later." "Were those who carried out the Pahalgam attack among the 100 terrorists (killed during the operation)? That's the real question," he asked while lauding the country for displaying unity and foiling the enemy's plan of inciting riots.

      On Trump's claims of bringing a ceasefire, he said, "The real Vishwaguru was sitting in the White House," he said.

      Shiv Sena (UBT) MP Arvind Sawant said India should refrain from playing cricket with Pakistan in view of the ongoing tension with the neighbouring country.

      Sawant also wondered why India stopped the war with Pakistan without imposing any conditions when the neighbouring country "was on its knees begging for a ceasefire".

      "If India was in the vantage position, then what stopped the country from reclaiming Pakistan-occupied Kashmir," he said, adding this was an opportune time to teach Pakistan a lesson like India Gandhi had done during the 1971 war. PTI UZM KND RR ASK SKC RT RT RT

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