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    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
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
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    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    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
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    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
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    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
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    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.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
    Show AI Summary
    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
    Show AI Summary
    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.

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      PHE Industries Celebrates 25 Glorious Years with the Powerful Expansion of Its Game-Changing Recon Series

      August 25, 2025

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      Faridabad, India | August 2025 PHE Industries Pvt. Ltd., the most trusted name in India when it comes to hydraulic system solutions, celebrates 25 years of innovation, reliability, and unwavering commitment to customer success. PHE started on small beginnings and now serves some of the most essential industries in India. PHE’s journey reflects not just business growth but a deep-rooted mission to power industrial India with cost-effective, precision-driven, and future-ready solutions.

      What began in 2000 as a modest vision by hydraulic expert Mr. Pankaj Srivastava, has today evolved into a national leader making industrial systems reliable, cost-efficient, and future-ready. Today, the company is best known for its industry-leading Recon Series reconditioned hydraulic pumps and motors that offer OEM-grade performance at a fraction of the cost.

      “We don’t just repair machines. We revive entire systems, industries, and confidence,” says Mr. Srivastava. “Our goal from day one has been to provide precision engineering without compromise and our 25-year journey is proof of that commitment.” The Recon Series: Revolutionizing Industrial Hydraulics In a capital-intensive industrial environment where uptime is mission-critical, PHE’s Recon Hydraulic Units have emerged as a preferred choice for cost-effective, high-performance hydraulic solutions.

      Previously viewed as a last-resort solution, reconditioned hydraulic systems are now a strategic advantage and PHE is proudly leading this transformation.

      The Recon Series offers reconditioned pumps and motors that are equal to the specifications of the OEM in specifications; its advantages are far beyond cost savings.

      Key Advantages of PHE’s Recon Units: ●Cost-Effective Performance: Nearly 50–60% more affordable than new imports without compromising on output.

      ●Quick Turnaround: Emergency-fit units help industries avoid prolonged downtime.

      ●Environmentally Conscious: Reconditioning promotes sustainability by extending equipment lifecycle and reducing industrial waste.

      ●Quality Without Compromise: Every unit is rebuilt using genuine components from global brands like Danfoss, Parker, Rexroth, Eaton, Linde, ensuring dependability and long-term durability.

      Engineering Precision You Can Trust Every Recon unit has its second life started by total dismantling and inspection and then it is reassembled with only certified OEM parts. It is handled by well trained technicians of PHE's own hydraulic institute and the units are also thoroughly tested on fully equipped state-of-the-art test benches located at Faridabad and Mumbai.

      To ensure complete transparency, clients also receive detailed test reports and operational videos, ensuring complete transparency and confidence.

      25 Years of Impact Across Critical Industries PHE’s reconditioned units now form the backbone of hydraulic systems across India’s most critical sectors: ● Marine and Port Operations ● Construction & Earthmoving Equipment ● Steel Plants & Manufacturing Units ● Railways, Defence, Oil & Gas The company’s client list includes top organizations like ONGC, DP World, Northern Railways, Sanghvi Movers, and Daryaa Shipping, among others.

      “In sectors where a single hour of downtime can cost lakhs, PHE’s Recon units ensure rapid replacements with reliable results,” says Mr. Srivastava.

      Expansion of Recon for HDD and Port Cranes: A National Milestone This July, PHE proudly expanded its Recon Series to cover Horizontal Directional Drilling (HDD) machines ranging from 30 to 800 tonnes, and heavy-lift port cranes up to 800 tonnes. This move makes PHE the first Indian company to provide OEM-standard reconditioned hydraulic units for such high-tonnage applications at scale.

      “We’re not just filling a gap, we're redefining expectations,” said Mr. Srivastava. “Recon is engineered for heavy-duty reliability without the price tag or waiting period of imports.” This expansion is poised to: ● Cut project delays in India’s infrastructure development ● Reduce dependency on imported equipment ● Support the ‘Make in India’ and Atmanirbhar Bharat visions Powered by Purpose: Training the Next Generation At the heart of PHE’s operational philosophy is the PHE Institute of Hydraulics, an in-house training center dedicated to upskilling technicians and engineers. By offering real-world training, failure diagnostics, and advanced system insights, the institute is building self-reliance and reducing foreign dependency.

      Why the PHE Institute matters: ● Hands-on curriculum based on real scenarios ● Failure analysis and preventive engineering practices ● Producing talent that reduces dependency on foreign expertise “With every engineer we train, we don’t just build skill, we build self-reliance,” adds Mr. Srivastava.

      An Ecosystem Built for Excellence In addition to Recon, PHE Industries has a highly complementary ecosystem that allows end-to-end scope of service delivery: ●PHE Industries Pvt. Ltd.: Parent company that performs hydraulic reconditioning, AMC services, on-site support and the sale of genuine parts.

      ●Suyojan Precision Engineers LLP: A specialized partner focused on hydraulic design and system integration.

      ●PHE Institute of Hydraulics: Training division preparing India’s hydraulic workforce.

      This ecosystem allows PHE to provide end-to-end, scalable, and reliable hydraulic solutions under one brand.

      Setting the Standard with Global Partnerships PHE’s commitment to genuine quality is reflected in its long-standing partnerships with leading global component manufacturers. These include: ●Danfoss ●Linde ●Eaton ●Rexroth ●Parker ●Bondioli & Pavesi This rigorous quality discipline ensures that every PHE-rebuilt unit is built to outlast and outperform a key reason behind its long-term client retention.

      Future-Ready: The Next 25 Years As PHE celebrates its silver jubilee, it also lays out a bold roadmap for the future: ● Pan-India AMC network for uninterrupted hydraulic services ● Expansion into international markets (UAE, Africa) ● Deeper digital presence through Google profiling, podcast appearances, and leadership content ● Strategic partnerships in ports, marine, and defense sectors “India has the potential to lead the world in affordable, high-quality hydraulic reconditioning. PHE is ready to lead that charge,” says Mr Srivastava.

      About PHE Industries Pvt. Ltd.

      Established in 2000, PHE Industries Pvt. Ltd. is India's best hydraulic system solutions and service provider in high performance reconditioning, repairs and maintenance of hydraulic pumps, motors and valves. PHE has 25 years of proven trusted service, a national presence, and has unparalleled ability to deliver on its promise of providing quality products and service. PHE remains the supplier of choice to industries where performance, precision and progress are paramount.

      From reconditioning to readiness, PHE stands for trust, transparency, and transformation.

      (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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