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    RBI invites comments on the draft “Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Amendment Directions, 2026”
    West Bengal seeks 100pc foodgrain, 40pc sugar jute packaging quota at SAC meeting
    RBI clasifies Tata Sons, 16 others as large NBFCs
    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    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
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    August 6, 2026
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    Draft NBFC credit-facilities amendments open for stakeholder consultation through designated online and email feedback channels.
    Draft amendments to the Non-Banking Financial Companies credit-facilities framework have been released for public consultation. Regulated entities and other interested stakeholders may submit comments or feedback through the 'Connect 2 Regulate' platform or by email using the specified subject line.
    August 6, 2026
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    Mandatory jute packaging reservations were urged to protect cultivators, mill workers, crop absorption, and environmentally sustainable packaging.
    Mandatory jute packaging reservations were sought to be retained at full coverage for foodgrains and increased for sugar packaging for the forthcoming Jute Year. The submission before the Standing Advisory Committee emphasised absorption of bumper jute output, remunerative prices for cultivators, uninterrupted mill operations, and protection of farm and worker livelihoods. It also stressed that biodegradable jute bags offer an environmentally friendly alternative to HDPE and polypropylene woven sacks, and that dilution of compulsory packaging could undermine plastic-pollution reduction efforts.
    August 6, 2026
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    NBFC Upper Layer classification imposes enhanced regulation and listing obligations, while de-registration applications remain under examination.
    NBFC Upper Layer classification subjects identified large non-banking financial companies to enhanced regulatory requirements for at least five years and requires stock-exchange listing within three years of identification. The framework divides NBFCs into Base, Middle, Upper and Top Layers. Seventeen large NBFCs were included in the Upper Layer list, while Tata Sons' classification remains subject to the pending examination of its de-registration application.
    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      India, China unveil raft of measures to fully realise their development potential

      August 19, 2025

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      New Delhi, Aug 19 (PTI) In a major thaw in their frosty ties, India and China on Tuesday unveiled a series of measures to forge a "stable, cooperative and forward-looking" relationship that included jointly maintaining peace along the frontier, reopening border trade, promoting investment flows, and resuming of direct flight connectivity at the earliest.

      The announcements aimed at realising the full development potential of the two Asian giants came amid growing estrangement in ties between India and the US over President Donald Trump's policies on trade and tariff.

      India and China listed the measures in a joint document after Chinese Foreign Minister Wang Yi held wide-ranging talks with External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval over the last two days besides meeting Prime Minister Narendra Modi.

      The two sides agreed that they should earnestly implement the important common understandings reached between Prime Minister Modi and Chinese President Xi Jinping and promote sustained, sound and steady development of India-China relations.

      Wang landed in Delhi on Monday on a two-day visit and his trip is largely seen as part of ongoing efforts by the two neighbours to rebuild their relationship after it came under severe strain following the deadly Galwan Valley clashes in 2020.

      The Doval-Wang talks under the framework of the Special Representatives dialogue on Tuesday produced five concere outcomes that included setting up an expert group, under the Working Mechanism for Consultation and Coordination (WMCC) to explore an "early harvest in boundary delimitation".

      In the meeting, Doval and wang agreed on the need to take a political perspective of the overall bilateral relationship while seeking a fair, reasonable and mutually acceptable framework for settlement of the boundary question in accordance with the agreement on political parameters and Guiding Principles for Settlement of the boundary question signed in 2005.

      They also agreed on setting up a working group, under the WMCC, to advance effective border management in order to maintain peace and tranquillity in India-China border areas.

      Both sides also agreed to create a "general level mechanisms" in Eastern, and Middle sectors, in addition to the similar mechanism in Western sector, and holding an early meeting of the the mechanism in the Western sector, accoring to a joint statement.

      The two sides also agreed to use the border management mechanisms at diplomatic and military levels to carry forward the process of border management, and discuss de-escalation, beginning with the principles and modalities.

      The talks between Jaishankar and Wang on Monday produced a total of 12 outcomes that included a decision to explore and resume various official bilateral dialogue mechanisms and exchanges, to enhance cooperation and address each other's concerns and properly manage differences.

      The joint document said both sides agreed to the re-open border trade through the three designated trading points, namely Lipulekh Pass, Shipki La Pass and Nathu La Pass.

      India and China also agreed to facilitate trade and investment flows between the two countries through "concrete measures", it said.

      Both sides agreed to jointly maintain peace and tranquility in the border areas through friendly consultations, it added.

      India and China also agreed to resume direct flight connectivity between Chinese mainland and Indian cities at the earliest, and finalise an updated Air Services Agreement.

      They also agreed on the facilitation of visas to tourists, businesses, media and other visitors in both directions, the joint document said.

      "Both sides agreed to continue and further expand the scale of the Indian pilgrimage to Mount Kailash/ Gang Renpoche and Lake Manasarovar/ Mapam Yun Tso in Tibet Autonomous Region of China starting 2026," it said.

      The two sides exchanged views on trans-border rivers cooperation and agreed to give full play to the role of India-China expert level mechanism on trans-border rivers and keep communication on renewal of the relevant MoUs.

      The Chinese side agreed to share hydrological information during emergency situations based on humanitarian considerations.

      Earlier, in their meeting, Doval and Wang highlighted the upward trend in India-China engagement and discussed the way forward as well as de-escalation of the of the frontier.

      There has been an "upward trend" in India-China relations in the past nine months as peace and tranquillity prevailed along the border, Doval said.

      In his televised opening remarks, the NSA recalled his visit to Beijing in December last for the previous round of SR talks and said there has been an "upward trend" in the ties between the two sides since then.

      "Borders have been quiet, there has been peace and tranquillity, our bilateral engagements have been more substantial," he said.

      Doval also formally announced that Modi will visit China to attend the SCO Summit, to be held in Tianjin on August 31 and September 1 and noted that the Special Representatives talks have assumed a "very special importance" in view of the trip.

      The NSA also made a mention of the talks between PM Modi and Chinese President Xi Jinping on the margins of a multilateral event in the Russian city of Kazan in October last year, adding that both sides benefited a lot since then.

      "The new environment that has been created has helped us in moving ahead in the various areas that we were working on," Doval said.

      The Modi-Xi meeting took place two days after India and China firmed up a disengagement pact for the remaining two friction points of Depsang and Demchok in eastern Ladakh.

      The two leaders had decided to revive several mechanisms, including talks between the Special Representatives, to normalise bilateral ties.

      In his remarks, the Chinese foreign minister said the two sides should "increase mutual trust through strategic communication, expand common interest through exchanges and cooperation, and properly settle the specific issues" along the borders.

      "We are heartened to see the stability that is now restored in the borders." "Now the bilateral relationship is facing an important opportunity of improvement and growth. The Chinese side attaches great importance to the Prime Minister's visit to China to attend the SCO Summit at our invitation," he said.

      The Indian side strongly raised the issue of terrorism in all its forms and manifestations, including cross-border terrorism, recalling that one of the original objectives of the Shanghai Cooperation Organisation (SCO) was to counter the evil of terrorism, the MEA said.

      Minister Wang Yi concurred that countering terrorism should be given the highest priority, it added.

      In the SR talks, both sides deliberated on maintaining peace and tranquility along the Line of Actual Control (LAC).

      Though the two sides disengaged troops from the friction points, they are yet to de-escalate the situation by pulling back the frontline forces from the border.

      Each side currently has around 50,000 to 60,000 troops along the LAC in the eastern Ladakh region.

      The military standoff in eastern Ladakh began in May 2020 and the clashes at the Galwan Valley in June that year resulted in a severe strain in bilateral ties.

      The face-off effectively ended following completion of the disengagement process from the last two friction points of Demchok and Depsang under an agreement finalised on October 21 last year.

      In the last few months, the two sides also initiated a number of initiatives to rebuild the ties that included resumption of Kailash Mansarovar Yatra and New Delhi restarting issuance of tourist visas to Chinese nationals. PTI MPB KVK KVK

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