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    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    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
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    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
    Show AI Summary
    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.

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      TAC Security Launches Socify.ai, a Next-Generation SOC 2 AI-Powered Compliance Automation Platform

      September 8, 2025

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      Mumbai, Maharashtra, India – Business Wire India • AI-powered security platform to disrupts SOC2 marketing with automation - Socify. • TAC Security expands its ESOF Suite with Socify.ai, simplifying SOC 2 compliance for startups to enterprises in as little as two weeks. • Serving 6,000+ global clients, TAC Security now brings affordable, SOC2 Solution targeting 10,000 businesses within a year. • Socify.ai introduces Audit Vault, AI remediation, and 135+ automated checks to modernise SOC2 at half the industry cost. • With India’s first listed cybersecurity company leading the way, Socify redefines trust, security, and compliance worldwide. TAC Infosec Limited (NSE: TAC) (“TAC Security” or the “Company”), a leading NSE-listed cybersecurity company, today announced the launch of Socify.ai, a next-generation SOC 2 AI-powered compliance automation platform designed to simplify, accelerate, and modernise the audit readiness process. SOC 2, or System and Organisation Controls 2, is a framework and reporting standard developed to provide assurance to clients that an organisation has implemented appropriate controls to protect their data. Launched under the Company’s ESOF Suite (Enterprise Security under One Framework), Socify expands TAC Security’s technology portfolio into compliance automation. The platform supports both SOC 2 Type I (point-in-time) and Type II (annual recertification) assessments, providing organisations with continuous compliance assurance. Unlike existing compliance automation platforms, Socify is built with a security-first architecture and a uniquely audit-centric design. Key differentiators include: • Audit Vault: Enables auditors to directly mark controls pass/fail, shortening review cycles by up to 40%. • Flexible Evidence Collection: Supports both automated and manual inputs across multiple sources, ensuring no control gaps. • Built-In Policies & Procedures: 40+ ready-to-use policy templates reduce reliance on external consultants. • Cloud-Native Depth: 135+ automated compliance checks across AWS, GCP, and Azure mapped directly to SOC 2 controls. • Socify AI: Offers searchable compliance intelligence, contextual assistance, remediation guidance, and step-by-step fixes going beyond static dashboards. • Learning Engine: Continuously refines recommendations based on historical remediation patterns and auditor feedback, improving accuracy and efficiency over time. By comparison, pre-audit consulting engagements can cost between Rs. 5 lakh and Rs. 40 lakh annually, while our plan will start from Rs. 2.37 lakh per annum (approx. $2,700) including CPA Certification – at minimum half the cost of other players in the market. Socify delivers equivalent readiness automation at a fraction of the cost, while offering scalability across multiple frameworks, continuous readiness through always-on monitoring rather than point-in-time assessments, and improved accuracy by eliminating manual errors in evidence collection. “SOC 2 compliance has long been synonymous with high costs, consultants, and unnecessary complexity. With Socify, we’ve eliminated those barriers. We are transforming compliance into a seamless, accessible, and affordable process for businesses of every size. With TAC Security’s global footprint of 6,000+ clients in 100 countries, we are extending our leadership into compliance with a target of bringing 10,000 companies onto Socify within a year. This is not just about SOC 2, it’s about redefining how enterprises think about trust, security, and compliance worldwide,” — Trishneet Arora, Founder & CEO, TAC Security. Socify supports the entire SOC 2 lifecycle, including policies and procedures aligned to SOC 2 principles, automated and manual control monitoring, real-time compliance dashboards, centralised evidence collection, streamlined auditor interaction through the Audit Vault, and instant remediation guidance through its AI Assistant. This lifecycle approach reduces audit preparation time by up to 40 per cent, improves reporting accuracy by more than 40 per cent, and shortens review cycles by 30–40 per cent, saving organisations significant annual costs. The market opportunity for Socify is significant. The global compliance automation market is estimated to be worth USD 4.2 billion in 2024, with SOC 2-related solutions representing a rapidly expanding segment. Approximately 30 per cent of the market consists of organisations seeking SOC 2 readiness, spanning small start-ups undergoing first-time audits to large enterprises managing multiple frameworks. Socify is uniquely positioned to capture this growth opportunity by addressing both ends of the spectrum. “Socify was engineered with a security-first architecture and an audit-centric design, ensuring compliance is built into the foundation. By automating evidence collection, integrating seamlessly with cloud platforms like AWS, GCP, and Azure, and applying AI-driven remediation, we’ve eliminated the complexity that has traditionally burdened SOC 2 compliance. With our Audit Vault and AI Assistant, organisations are not just prepared for audits, they remain continuously compliant. This is compliance technology reimagined: intelligent, scalable, and future-proof,” — Saransh Rawat, CTO, TAC Security. The launch of Socify strengthens TAC Security’s position not only as a technology innovator but also as a key player in India’s capital markets. As the first publicly listed cybersecurity company on the NSE, TAC Security’s entry into compliance automation enhances its revenue diversification, widens its global client base, and further aligns with investor expectations for sustained growth. By targeting 10,000 enterprises within a year, Socify is expected to contribute significantly to TAC Security’s valuation trajectory and reinforce India’s standing as a hub for world-class cybersecurity innovation. The launch also aligns with TAC Security’s broader mission to become the world’s largest vulnerability management company. By unifying security and compliance automation into a single platform, Socify reduces the risk of last-minute audit failures and equips executives with real-time visibility into compliance status. Serving 6,000+ clients across 100 countries, TAC Security ranks as the 5th Largest Vulnerability Management company in the world, cementing its reputation as a global cybersecurity leader. About TAC Security (TAC InfoSec Limited) TAC Security, a leading global cybersecurity company specialising in vulnerability management, is a publicly listed cybersecurity company that made headlines with its oversubscribed IPO worth $1 billion. TAC Security’s flagship product, ESOF (Enterprise Security in One Framework), excels in cyber scoring, cyber risk quantification, and leveraging advanced AI for vulnerability assessment and penetration testing. TAC Security holds prestigious certifications like CREST, SOC2, and ISO 27001 and partners with tech giants such as Google, Microsoft, and Meta for ADA’s CASA (Cloud Application Security Assessment). Serving a diverse global 6000+ clientele in 100 countries, TAC Security is committed to innovation and excellence in cyber security for Fortune 500 companies, start-ups, and Governments Globally. For more information, visit https://tacsecurity.com/. (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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