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    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    August 5, 2026
    Show AI Summary
    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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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
    Show AI Summary
    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
    Show AI Summary
    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
    Show AI Summary
    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
    Show AI Summary
    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
    Show AI Summary
    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.
    August 5, 2026
    Show AI Summary
    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
    Show AI Summary
    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
    Show AI Summary
    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
    Show AI Summary
    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.

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      City Of Dreams Sri Lanka Opens, Aims To Boost Travel, Business, And Lifestyle In South Asia

      August 25, 2025

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      New Delhi [India], August 21: With its glittering launch on August 2, 2025, City of Dreams Sri Lanka redefines luxury tourism in South Asia. This resort not only transforms Colombo’s skyline but also sets a new benchmark in hospitality, entertainment, and economic promise. Colombo witnessed a historic moment with the launch of City of Dreams Sri Lanka, a landmark development poised to reshape South Asian travel and tourism. Backed by a $1.2 billion investment and a decade of planning the luxury resort signals Sri Lanka’s bold entry onto the world’s luxury map. Developed by John Keells Holdings PLC (JKH) in collaboration with Melco Resorts & Entertainment (Melco), the opening of this destination represents more than the sum of its lavish amenities. It marks a transformative shift in Colombo’s identity, taking it from a gateway city to a globally recognised lifestyle and business hub. The grand opening was marked by an evening of spectacle and celebration, with Bollywood superstar Hrithik Roshan among the high-profile guests in attendance, adding star power to an event that already symbolised ambition on a comprehensive scale. An Iconic First for South Asia City of Dreams Sri Lanka holds the distinction of being South Asia’s first fully integrated resort. This status reflects the seamless combination of hospitality, gaming, retail, dining, and entertainment within one unified complex, offering guests a 360-degree lifestyle experience without ever needing to leave the premises. Until now, integrated resort models were largely synonymous with destinations like Macau, Las Vegas or Manila. With this launch, Sri Lanka joins the ranks of those international cities, becoming a pioneer in introducing this format to the South Asian region. The magnitude of the City of Dreams project is unprecedented in the region and is the largest luxury lifestyle development ever undertaken in the country. The project has been over a decade in the making and reflects deep confidence in the country’s tourism potential. From the outset, it was envisioned as a game-changing anchor for Colombo’s transformation into a modern city. World-Class Offerings Under One Roof City of Dreams Sri Lanka is a meticulously curated ecosystem, where hospitality, entertainment, business, shopping, dining and culture converge to deliver a seamless, world-class experience that rivals the best global destinations. What sets this integrated resort apart is not just its scale, but its soul. With over 1,000 artworks displayed across the property, including some exclusively commissioned pieces, the resort serves as a living gallery spotlighting Sri Lanka’s vibrant cultural identity. From hand-carved interiors to immersive multimedia installations, every detail has been carefully designed to celebrate local craftsmanship and heritage on a universal stage. The opening weekend itself was a celebration of this ethos, featuring international and local artists, dynamic performances and culinary showcases that reflected the resort’s promise: to create moments that are as inspiring as they are unforgettable. More than a landmark destination, City of Dreams Sri Lanka is a symbol of resilience and renewal, a new chapter for Colombo that blends tradition with transformation. Luxury Hospitality Redefined At the heart of the resort is Nüwa, the ultra-luxurious hotel brand by Melco and a highlight of the City of Dreams Sri Lanka experience. With 113 elegantly appointed rooms, Nüwa caters to the discerning traveller, offering world-class design, personalised service, and exclusive amenities. Complementing this is the Cinnamon Life hotel, a 687-room premium property that has been welcoming guests since October 2024. Known for its signature Sri Lankan warmth and contemporary comforts, Cinnamon Life adds depth to the resort’s hospitality offering. Together, the two hotels create a seamless blend of indulgence and accessibility, merging local charm with international finesse and placing Colombo firmly on the map of international luxury destinations. The Casino and Entertainment Edge City of Dreams brings a state-of-the-art casino to Colombo, operated to elevated gaming standards by Melco, a leader in luxury integrated resorts across Asia and Europe. Designed not just for high rollers but also as a vibrant entertainment zone, the venue attracts both leisure seekers and cultural tourists. Complementing the gaming floor are immersive entertainment spaces poised to host international performances, art showcases and live cultural acts, offering a platform for both global and Sri Lankan talent. Retail and Dining Experiences The Shoppes, which is the premium shopping promenade at City of Dreams Sri Lanka, features luxury brands, lifestyle boutiques, and concept stores curated to meet international standards. Retail therapy is elevated with a Sri Lankan touch, offering an eclectic blend of global and local. Gastronomy, too, takes centre stage. The resort boasts 17 distinctive dining outlets, including restaurants and bars helmed by internationally acclaimed chefs. From pan-Asian fine dining to regional specialties, the culinary offerings span a wide range of cuisines, promising an unforgettable gastronomic journey for every palate. Business Meets Leisure The resort’s MICE infrastructure (Meetings, Incentives, Conferences and Exhibitions) is designed to accommodate everything from intimate board meetings to major conferences. With cutting-edge technology and flexible venues, it opens new doors for Colombo as a premier business tourism destination in South Asia. Redefining Colombo’s Global Identity Strategically located in the heart of the city, City of Dreams Sri Lanka is more than a place to stay. It is a reason to visit Colombo. The integrated resort is positioned to drive a surge in international arrivals, especially from India, the Middle East, and Southeast Asia, reinforcing Sri Lanka’s tourism ambitions. For a long time, the island nation has been known for its beaches, tea estates and cultural heritage. With the City of Dreams, Colombo now stands out as a destination that balances heritage with world-class urban luxury. Moreover, this resort is not just for tourists. It is being marketed as a lifestyle hub for locals and global citizens alike. Residents, digital nomads, entrepreneurs, and creatives find in it a space where modern elegance, entertainment and Sri Lankan culture intersect. Its scale and ambition place Colombo in the same breath as established urban resort cities like Macau, Manila, and Limassol, all home to previous iterations of the City of Dreams brand. Economic and Cultural Impact City of Dreams Sri Lanka is poised to make a significant contribution to the nation’s economy and cultural landscape that is expected to generate over 20,000 direct and indirect employment opportunities - from hospitality and culinary arts to logistics and event management -- the development has opened new avenues for local skill development and long-term career advancement, empowering a diverse segment of the workforce. Beyond job creation, the resort is set to become a key driver of foreign exchange earnings. Positioned as a high-end destination that attracts affluent international travellers, it is likely to boost investor confidence and act as a catalyst for further foreign direct investment. This launch comes at a critical time in Sri Lanka’s economic journey, offering a sustainable model for growth and regional engagement. Melco Resorts & Entertainment is dedicated to bringing its expertise in luxury hospitality and entertainment to ensure that this project achieves the highest international standards. The company is committed to empowering local talent development through comprehensive training programs, creating meaningful career opportunities for the Sri Lankan workforce. Additionally, Melco will uphold the highest standards and implement industry’s best practices in responsible operations, ensuring a world-class experience that prioritizes excellence, safety, and sustainability. (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI

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