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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
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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.

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      PBS, NPR stations struggle with Trump-fuelled government funding cuts

      September 1, 2025

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      New York, Aug 31 (AP) Coping with a sudden loss in federal funding, PBS affiliate KSPS in Spokane, Washington, faced a surprise extra hurdle. Many of its contributing members — at one point almost half — lived in Canada, and they were withdrawing support out of anger at President Donald Trump's desire to make the country the 51st member of the United States.

      When Congress decided this summer to eliminate USD1.1 billion allocated to public broadcasting, it left some 330 PBS and 246 NPR stations, each with unique issues related to their communities and history, to figure out what that means.

      Many launched emergency fund drives and are heartened by the response. The national NPR and PBS networks are reducing expected dues payments, and a philanthropic effort focused on the hardest-hit stations is taking shape. No stations have shut down, but job and programming cuts are already beginning.

      In Spokane, KSPS has always tried to keep its requests for member donations separate from appeals for public funding. Not anymore. Congress left the station with a USD1.2 million hole to fill, about 18% of its budget, and the station is using that as a pretext to seek help from listeners.

      “We have definitely seen some attrition from our Canadian members,” said Skyler Reep, the station's interim general manager.

      Pleas for donations exceed expectations in many parts of country Long suspicious of a liberal bent to public media news coverage, Republicans in Congress responded to President Donald Trump's wishes in July and eliminated funding for the systems. The Corporation for Public Broadcasting, which distributes the funding, has taken steps to shut down.

      In some parts of the country, the answer to pleas for help have exceeded expectations. Public radio station WHQR in Wilmington, N.C. raised more than USD200,000 in three days, filling a USD174,000 hole and then some. It's a small community growing fast with an influx of retirees, many who depend on the station's news to learn about their new home, said general manager Kevin Crane.

      With USD525,000 gone from its budget, Hawaii Public Radio has already raised USD650,000 in an emergency fund drive. “It's a validation that what you're doing is essential to the community and is appreciated by the community,” said Meredith Artley, president and CEO. The 2023 wildfires in Maui and their aftermath were covered steadily by Hawaii Public Radio news reporters.

      “The initial response in terms of support for both stations and the NPR network has been extraordinary,” said Katherine Maher, NPR president. “People did a lot of work leading up to the vote, in actions and calls. When that did not prove convincing, they turned to direct support.” Stations across the country have stories that make them smile: the youngster from Florida who collected money for public stations in Alaska, sending a note written in crayon; the regular USD300 donor who came in to PBS SoCal with a USD100,000 check, one of three six-figure donations the station has received.

      Most stations aren't in areas with so many wealthy donors. Most station managers are like Jeff Hanks of PBS' LPTV in Lakeland, Minnesota. He lies awake wondering where he will find USD1 million to pay for things like his station's nightly newscast, a primary news source for central and northern Minnesota.

      “These are extremely, extremely challenging times,” Hanks said. “We're fighting hard every way we can.” He knows membership donations won't make up for what is missing. Both PBS and NPR have taken steps to reduce the annual dues that stations pay for programming and other services. At PBS, it's an average 15% reduction, but needy stations get more — in one case, more than half of next year's dues will be forgiven, said PBS president Paula Kerger.

      Adopting stations in poorer, more rural areas NPR is encouraging donors in wealthier areas to adopt stations in poorer ones, perhaps in an area where a contributor has emotional ties.

      Public media leaders are also working with a group of philanthropists led by the Knight and MacArthur foundations that is hoping to raise some USD50 million to support stations in areas hardest hit be the cuts. Ed Ulman, president and CEO of Alaska Public Media, which represents nearly two dozen radio and television stations in the largest state, said he'll be seeking money from this fund.

      Ulman said he's been buoyed by the response from Alaskans in their effort to raise USD15 million through various sources by October. The services their stations provide is free, and citizens see its value.

      “I've never been worried about the future of public television or radio because our community needs us,” he said, “and what we've seen in Alaska is an outcry about that.” Still, Alaska Public Media has suspended the weekly public affairs television show “Alaska Insight,” which isn't returning after a summer hiatus. The future of “Indie Alaska,” a weekly video series highlighting the lives of Alaskans, is also in danger.

      Some stations are already making the difficult decisions of cutting staff, In Spokane, for example, 12 of KSPS's 35 staff members have either been laid off, had their hours reduced or pay cut. Reep is also considering that future seasons of local shows like “Northwest Profiles” or the arts showcase “Inland Sessions” will have fewer episodes.

      Similar programming decisions are also being weighed on a national level. While several upcoming shows, like Ken Burns' six-part miniseries “The American Revolution” scheduled for November, are completed, PBS will have to consider making shorter seasons of its series, Kerger said.

      “We're working very hard so that the public doesn't feel that there's a change,” Kerger said.

      Looking for ways to share services Between an increase in donations and “rainy day” resources set aside, the initial impact of the government action may be minimized. But that brings its own worries: It's unlikely public media will be able to count on sympathy donors to the same extent in the future. And there's a risk that some politicians will feel the response proves that public support isn't necessary.

      The bigger reckoning may come a year from now, Kerger said. “I am a realist,” she said. “I have to believe that there are some vulnerable stations that are not going to make it.” The crisis is forcing some public stations to work together, searching for ways to share services in areas not before contemplated, in things like finances, management and programming, said Andy Russell, president and CEO of PBS SoCal. Public stations in Washington are meeting to see if they can get state financing.

      In Los Angeles, PBS SoCal has shared some of its templates for fundraising appeals with other stations. Several celebrities — people like Kerry Washington, Jack Black, Ziggy Marley, John Lithgow and John Leguizamo — have volunteered to film pitches, and the station is making them available nationwide, too, said Maura Daly Phinney, senior vice president for membership engagement and strategy.

      “We're going to make it,” Phinney said. “The system is going to be different. But we're going to make it.” (AP) NB NB

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