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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
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    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
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    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
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    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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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
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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.

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Customs & Trade

Rice Master Global Expands its Presence Across 12+ West African Countries

September 22, 2025

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For decades, rice has been a staple food in West Africa, feeding millions of families every single day. With growing populations, rising demand, and an increasing reliance on imported rice, the region has become one of the most important global markets for rice exporters. Among the leading suppliers from India, Rice Master Global Ltd has emerged as a trusted partner, exporting IR64 Parboiled Rice 5% Broken directly from India to various destinations across West Africa. At Rice Master Global, we are proud to be not just exporters, but direct manufacturers, ensuring end-to-end control over the supply chain. This allows us to deliver consistent quality, competitive pricing, and reliable shipments — three factors that make us a preferred choice for importers and distributors across the African continent. Why IR64 Parboiled Rice 5% Broken? IR64 Parboiled Rice 5% Broken is one of the most widely consumed rice varieties in West Africa. Its popularity stems from its: • Affordable pricing – making it accessible to a wide consumer base. • Good cooking quality – fluffy texture, non-sticky grains, and appealing aroma. • High demand for daily consumption – especially in staple dishes across Ghana, Togo, Benin, Guinea, and more. • Nutritional value – parboiling preserves vitamins and minerals, making it a healthier choice. This variety has become the backbone of rice imports in West Africa, and Rice Master Global is committed to ensuring a steady and uninterrupted supply. Our Key Export Destinations in West Africa Rice Master Global has built a strong logistics and trade network across multiple countries in West Africa. Below are the main countries we serve and the ports that connect our shipments to local markets: • Ghana – Tema Port (a vital entry point for rice imports, supporting large-scale distribution within the country). • Togo – Lomé Port (strategically important for both local consumption and transit to neighbouring landlocked countries). • Benin – Cotonou Port (a major hub that also serves as a gateway for rice imports into Niger and Burkina Faso). • Burkina Faso – Served via Lomé and Cotonou Ports (landlocked country depending on efficient overland logistics). • Ivory Coast (Côte d’Ivoire) – Abidjan Port (one of the busiest ports in West Africa, crucial for large rice shipments). • Guinea – Conakry Port (a lifeline for rice imports into the Guinean market). • Guinea-Bissau – Bissau Port (key for smaller-scale yet essential rice supply to this nation). • Mali – Served via Abidjan, Dakar & Lomé Ports (as a landlocked country, Mali relies heavily on transit corridors). • Senegal – Dakar Port (a central hub for rice trade in West Africa). • Liberia – Monrovia Port (supports growing demand for rice in Liberia). • Sierra Leone – Freetown Port (a major entryway for rice imports into the country). Through this extensive network, Rice Master Global ensures that rice reaches wholesalers, distributors, and consumers efficiently across the region. Building Strong Trade Partnerships Our success in West Africa is built on mutual trust and long-term relationships. By working closely with importers, wholesalers, and distributors, we have established partnerships that go beyond transactions. We understand the critical role rice plays in food security across Africa, and we view our work not just as a business, but as a contribution to the well-being of millions of people. By maintaining consistency in both quality and supply, we have gained the confidence of governments, trade associations, and private buyers who look to us as a reliable supplier in times of growing demand. Logistics & Supply Chain Strength Managing rice exports to so many countries requires a strong and reliable logistics network. At Rice Master Global, we have optimized our supply chain with: • Direct manufacturing and sourcing – eliminating middlemen to reduce costs. • Strategic shipping arrangements – ensuring timely vessel bookings to major ports like Tema, Abidjan, Conakry, Dakar, and Lomé. • Efficient inland transport – supporting landlocked countries such as Mali and Burkina Faso with seamless overland connections. • Quality assurance – every shipment is inspected and certified to meet international standards. This ensures that our rice consistently reaches the market in perfect condition, maintaining freshness, quality, and affordability. Supporting Food Security in Africa Rice consumption in West Africa continues to grow at a rapid pace. With limited local production in many countries, imports remain essential to meet the rising demand. By ensuring a reliable supply of IR64 Parboiled Rice 5% Broken, Rice Master Global is actively contributing to food security in the region. Our goal is not only to expand our presence but also to support sustainable trade partnerships that strengthen the bond between India and Africa. Vision for the Future Looking ahead, Rice Master Global is committed to further expanding its footprint across Africa. With increasing investments in supply chain efficiency, stronger collaborations with trade partners, and a focus on customer satisfaction, we aim to remain a leading name in the rice export industry. From India’s rice fields to African homes, we are proud to be part of a journey that nourishes millions every single day. Conclusion Rice Master Global’s presence across 12+ West African nations is a testament to our commitment to excellence, reliability, and long-term partnership building. By delivering IR64 Parboiled Rice 5% Broken through major ports such as Tema, Lomé, Abidjan, Conakry, Dakar, and Monrovia, we are not just exporting rice — we are exporting trust, quality, and prosperity. Together, let us continue to strengthen the ties between India and Africa, paving the way for a brighter and food-secure future. Visit https://ricemasterglobal.com/ to learn more about their premium rice offerings. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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