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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
    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
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    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
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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
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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
    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
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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
    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
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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.

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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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