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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
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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
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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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      Dadasaheb Phalke International Film Festival Announces the Top 10 Short Films of DPIFF 2025

      August 21, 2025

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      India’s Most Prestigious Film Festival & Award Ceremony celebrates cinematic brilliance and the rising voices of global storytelling Mumbai, India – 20 August 2025: Dadasaheb Phalke International Film Festival, India’s Most Prestigious Film Festival & Award Ceremony, has officially announced the Top 10 Short Films for the 2025 edition, marking yet another milestone in its journey of honouring cinematic brilliance and cultural narratives. Selected from thousands of entries worldwide, these 10 exceptional films represent the highest standards of independent cinema, carrying forward the legacy of Indian cinema’s founding father, Dadasaheb Phalke Ji, while celebrating innovation, diversity and storytelling that transcends borders. DPIFF 2025’s Top 10 Finalists share their thoughts on this recognition, their filmmaking journey, and what this prestigious selection means to them. 1. AVAR – THE INSEPARABLES: “Being shortlisted among the Top 10 at the prestigious Dadasaheb Phalke International Film Festival is an honour that reaffirms why I chose cinema — to move hearts and spark thought. This project, nurtured over five years, is my first work, and such recognition fills me with gratitude. I thank my team, whose passion turned vision into reality, and my family and well-wishers for their faith. This milestone inspires me to dream bigger and create stories that endure.” — Bipin Ramachandran 2. BREAK THE SILENCE: “Being selected among the Top 10 Short Films at DPIFF 2025 is an honour that fuels my passion for storytelling. Cinema has always been my way of connecting emotions with visuals, and this recognition reaffirms its power to spark meaningful conversations. Every frame of Break the Silence carries a piece of my soul, and I dedicate this milestone to my producer, team, mentors, and everyone who believed in our vision.” — Team Break The Silence 3. DESTINY: “I am truly humbled and grateful to see Destiny among the Top 10 films at the Dadasaheb Phalke International Film Festival 2025. This story was born from a deeply emotional space, exploring how tragedy can alter lives in painful yet transformative ways. A piece of my heart lives in this film, and having it recognized on such a prestigious stage reaffirms why I chose cinema — to touch lives and reflect our shared human journey.” — Vishakha Bhardwaj 4. DREAMING VINCENT: “Dreaming Vincent was both a challenge and a dream — reshooting episode 5 of Kurosawa’s ‘Dreams,’ a masterpiece that bridges art forms. For me, this film reflects the birth of artistic vision, captured in the light on the canvas. Being recognised at DPIFF 2025 is an exceptional honour on the Indian continent, a land of art, history, and culture. Cinema’s greatest power lies in connecting people across borders, sharing emotions, and celebrating the universality of human expression.” — Christian Candido 5. HUMSAFAR: “Hamsafar is a deeply personal story inspired by my grandfather’s life, where his radio became his truest companion. I wanted to portray this silent yet profound bond without conventional dialogue, capturing solitude, nostalgia, and resilience through pure emotion. For me, this film is not just storytelling, but a memory carried in my heart. To see Hamsafar recognised at DPIFF 2025 is an honour, reaffirming the power of cinema to celebrate Indian culture, emotional depth, and timeless companionship.” — Abhijeet A. Dalvi, Writer & Director 6. HUNAR: “HUNAR reflects how parents often impose their unfulfilled dreams on children, overlooking the real talent within them. As a filmmaker, I believe we are not the owners of our children but only mediums chosen to bring them into this world. Every child is a unique creation of God, blessed with their own skills. Our duty as parents is to nurture those gifts and give children wings of support, trust, and love—not chains that hold them back.” — Sujoy Mukherjee 7. JASWANDA: “We are truly grateful for JASWANDA to be recognised among the Top 10 Short Films at DPIFF. It is an honour when a festival of such scale acknowledges our work. We believe simple stories can enrich lives, and this film was made with complete heart and conviction. We are proud of the journey, and our greatest joy will be when it reaches more people through this prestigious platform, touching lives and spreading smiles through cinema.” — Team Jaswanda 8. JIJIVISHA: “Being selected among the Top 10 Short Films at DPIFF 2025 is an incredible honour. Jijivisha is a story of hope and resilience, and seeing it recognised on such a prestigious platform is deeply fulfilling. My filmmaking journey has always been about giving voice to emotions and stories that inspire. This recognition celebrates our team’s hard work and strengthens my belief in cinema’s power to connect, heal, and create change, sharing meaningful Indian stories with the world.” — Abhishek Loknar 9. KANMASHI: “I am deeply honoured that my short film Kanmashi has been selected among the Top 10 at the prestigious Dadasaheb Phalke International Film Festival 2025. This milestone reaffirms my belief in the power of storytelling and the value of creative exploration. Such recognition inspires me to pursue meaningful cinema with greater conviction. I am truly grateful to the festival for this honour, which I see not only as encouragement but also as a responsibility to create impactful films.” — Anjali Mukundam 10. NIGHT QUEEN: “It is deeply humbling for Night Queen to be named among the Top 10 Short Films at DPIFF 2025. Lakshmi’s story is one of quiet courage — the strength to live one’s truth even when society resists. I made this film hoping it would touch a few hearts, and this recognition shows it has reached much further. For that, I am truly grateful and encouraged to continue telling stories that give voice to resilience and authenticity.” — Naireeta Dasgupta These finalists were shortlisted through a rigorous process from the Top 100 → Top 50 → Top 21 → Top 10, reflecting months of evaluation and curation by the esteemed DPIFF jury panel. As Global Platform for Independent Cinema, DPIFF has earned its reputation as a cultural institution and cinematic benchmark, giving a platform to budding, independent filmmakers and global storytellers who dare to challenge conventions and reimagine the art of filmmaking. The shortlisted films will premiere at the DPIFF 2025 Short Film Screening Gala - the grand opening of the Dadasaheb Phalke International Film Festival Awards in Mumbai. The evaluation process will be conducted by Consulate Generals representing global cinema, Members of the DPIFF Advisory Board, Film Delegates and senior representatives from the Indian and international film fraternity. Recognition at the Grand Award Ceremony The filmmakers will not only gain recognition on a global platform but also compete for prestigious awards and cash prizes: • Best Short Film Award and Cash Prize of ₹1,00,000 • 1st Runner-Up – ₹15,000 + Memento • 2nd Runner-Up – ₹10,000 + Memento • 3rd Runner-Up – ₹5,000 + Memento The winners will be felicitated at the DPIFF 2025 Award Ceremony, an evening that will bring together the biggest stars of Indian cinema, international delegates, dignitaries, and cultural leaders, all under one unified emblem – one united roof. A Word from DPIFF CEO Abhishek Mishra Speaking on the announcement, Abhishek Mishra, CEO of DPIFF, said: "The journey of these short films from thousands of submissions to the Top 10 is a testament to the incredible power of storytelling that independent filmmakers bring to the global stage. At DPIFF, we see it as our responsibility to not only recognize cinematic brilliance but also to carry forward the legacy of Indian cinema by providing these voices with a global platform. The 2025 edition is set to be a grand celebration of creativity, culture, and cinema that inspires generations to come." About the Dadasaheb Phalke International Film Festival Dadasaheb Phalke International Film Festival (DPIFF) is a tribute to Late Shri Dhundiraj Govind Phalke, fondly remembered as the Father of Indian Cinema. Since its inception, DPIFF has grown into a globally recognized platform, followed by millions of cinephiles, filmmakers, and industry leaders with its telecast across 90+ countries. Each year, DPIFF brings together the Indian Film Industry, Television Industry, and International Film Fraternity to celebrate excellence across formats — from mainstream cinema to independent short films. With its prestige, credibility, and cultural relevance, DPIFF is widely regarded as India’s Most Prestigious Film Festival & Award Ceremony. Entries for Short Film Nominations are Live for the prestigious Dadasaheb Phalke International Film Festival 2026, Submit your Short Film at https://dpiff.in/nomination/ (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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