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    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    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
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    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.
    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
    Show AI Summary
    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
    Show AI Summary
    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.

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      Deficit in democracy; Constitution under challenge: Opposition's VP pick B Sudershan Reddy

      August 23, 2025

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      New Delhi, Aug 23 (PTI) Opposition vice presidential candidate B Sudershan Reddy on Saturday said there is a "deficit in democracy" in the country and the Constitution is "under challenge" as he pledged to defend and protect it.

      In a wide-ranging exclusive interview with PTI, Reddy dwelt on a range of issues -- from how his candidature came about, the debate on the words 'socialist' and 'secular' in the Preamble to the Constitution and to Union Home Minister Amit Shah's accusation that he supported Naxalism.

      Calling himself a liberal constitutional democrat, the Opposition's nominee for the vice presidential election said he does not subscribe to the RSS ideology and he is far away from it.

      He said disruptions in Parliament were essential in a democracy, but cautioned that they must not become an integral part of the democratic process.

      Reddy also sought to downplay the debate on the vice presidential election emerging as a "South versus South" contest, saying both he and NDA nominee C P Radhakrishnan were citizens of one country but lamented that the country's "polity stands fractured", leading to this contest.

      He talked about bringing back all black money stashed abroad, asserting that the nation's wealth must come back and said it was "work still in progress".

      The former Supreme Court judge said earlier there was a talk of "deficit economy", but now there is a "deficit in democracy", and claimed that though India continues to be a constitutional democracy, it is "under strain".

      He, however, welcomed the debate on whether the Constitution is under attack.

      Reddy said democracy is less about a clash between individuals and more about a clash between ideas, and wished ties between the government and the Opposition were better.

      A former chief justice of the Gauhati High Court, the Opposition's vice presidential nominee said his "journey of upholding the Constitution continues, ultimately culminating in, if given an opportunity, to protect and defend the Constitution".

      "All through my life, I was upholding the Constitution. If you give me an opportunity to serve this country, I will try to defend and protect the Constitution of India, which undoubtedly is coming under challenge. The message is, there is still the possibility of a reasonably good and healthy debate amongst ourselves in this country," he said.

      Reddy said he upheld the Constitution primarily as a judge in the past. "So, this journey is nothing new to me," he said.

      His unanimous candidature by the Opposition was a matter of honour for him, he said.

      "First, it represents diversity. Secondly, the unanimous choice. Thirdly, in terms of voting strength, if you make an analysis, they represent more than 63-64 per cent of the population. What else could be an honour," he said.

      On the argument that top constitutional posts should be filled by consensus reflecting national unity, he said, "I wish there could have been a consensus. But you know, the polity as it stands is a fractured one. In the circumstances, perhaps it is inevitable, leading to this contest." Reddy talked stressed that democracy in India is under strain.

      "Earlier, we used to talk about a deficit economy, (now) there is a deficit in democracy. I do not say that India is no longer a democratic country. I don't subscribe to that. We still continue to be a constitutional democracy, but under strain," he said.

      Explaining his point, he noted that earlier, the treasury and opposition benches used to coordinate on many national issues. "Unfortunately, we don't find that today," he said.

      The VP election is not a contest between him and Radhakrishnan, but a contest representing "two different ideologies".

      "... Here is a person, a quintessential RSS man... So far as I am concerned, I do not subscribe to that ideology and I am far, far, far, far away from it. I am essentially a liberal constitutional democrat. This is the area or rather the arena for the contest where the fight goes on," he said.

      Reddy also talked about the disruption of Parliament's business. Both Houses of Parliament witnessed an extraordinary ruckus for a major part of the recently finished Monsoon session.

      He quoted former BJP leader Arun Jaitley, who said "disruption also is a legitimate political activity and a parliamentary practice" to champion disruption as a form of dissent.

      "Disruption is nothing but one form of dissent. If you are not allowed to speak or express your views, this is one form of speaking. That's how I look at the disruption. Not that I wish that disruption should become an essential and an integral part of democratic process," Reddy said.

      On Amit Shah's attack on him over the Salwa Judum verdict, Reddy said, "I do not wish to join an issue directly with the Honourable Home Minister of India, whose constitutional duty and obligation is to protect the life, liberty and property of every citizen, irrespective of ideological differences. Secondly, I have authored the judgment. The judgment is not mine, the judgment is of the Supreme Court." In December 2011, Reddy, as a judge of the Supreme Court, ruled that using tribal youths as Special Police Officers -- whether called 'Koya Commandos' or Salwa Judum -- in the fight against Maoist insurgents was illegal and unconstitutional and ordered that they be immediately disarmed.

      He wished Shah read the judgment, which runs up to 40 pages. "If he had read the judgment, perhaps he would not have made that comment. That's all I say and leave it there... There must be decency in the debate," he asserted.

      He also threw his weight behind the caste survey, saying one has to first find out the percentage of those who need to be succoured and policies framed accordingly to empower them.

      Reddy headed the expert panel which conducted the survey and revealed that 84.6% of the population in Telangana belonged to the backward classes.

      "The Constitution doesn't speak about caste. If you have to classify a group together with some people as the backward classes, you have to find out their caste, their socio-economic conditions, their way of living, their access to power and the way they are recognised by the society. Caste survey has to be done," he said, adding that the Government of India has now included it in the Census.

      According to Reddy, the Constitution is an integral one and it means conventions and morality.

      "There are various steps taken by the government in power, making one feel legitimately that it is coming under challenge," he said, welcoming the debate that the Constitution is under attack and saying all should participate in it and express their opinion.

      On the controversy over the inclusion of 'socialist', 'secular' in the Preamble, he said, according to him, the expressions have made things explicit, which is otherwise in-built in the provisions of the Constitution.

      "Both the words which are made explicit, the ideas contained in the Constitution are welcome. It is true that the amendment came, that is 42nd Amendment, when the Emergency was invoked.

      "But, one must remember, the Jana Sangh which formed the government later, unanimously approved it. Therefore, one fails to understand with what intention that debate is being triggered," he said.

      On different narratives on Mahatma Gandhi, Jawaharlal Nehru and BR Ambedkar, Reddy said if you read the three superficially, some misconceptions and misunderstandings come to mind.

      "Quintessentially, all three of them were great democrats, republicans and (they) believed in the ethics and morals of the Constitution. I do not think it would be in the interest of the nation to divide them into three segments. And one supporting and the other opposing and creating a false narrative is not in the nation's interest," he stressed. PTI SKC KSS KSS

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