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    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
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    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
    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
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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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    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
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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.

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      BJP has 'mentally retired' Nitish Kumar, considers him liability: Kharge

      September 24, 2025

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      Patna, Sep 24 (PTI) Setting the tone for the Bihar poll campaign, Congress president Mallikarjun Kharge on Wednesday said the BJP has "mentally retired" Chief Minister Nitish Kumar and considers him to be a "liability", while claiming that the upcoming assembly elections will mark the beginning of the end of the Modi government's "corrupt rule" at the Centre.

      In his opening remarks at the Congress Working Committee (CWC) meeting here, Kharge launched a frontal attack on the BJP over a host of issues such as alleged "vote chori, economic slowdown, unemployment, social polarisation and targeting and weakening of autonomous constitutional institutions".

      Kharge also made an apparent reference to US President Donald Trump's recent statements and actions and took a dig at Prime Minister Narendra Modi.

      "Our problems at the international level are the result of the diplomatic failure of Narendra Modi and his government. The very friends whom the prime minister boasts about as 'my friends' are today putting India in numerous troubles," Kharge said.

      Targeting the BJP and the Election Commission over the issue of "vote chori" and Special Intensive Revision (SIR) of electoral rolls, Kharge said when the voters list is being officially "tampered" with, it was essential to hold the extended CWC meeting in Bihar, the mother of democracy, and reaffirm our pledge to protect this country's democracy and Constitution.

      He recalled that exactly 85 years ago, the first Constituent Assembly proposal was introduced at the Ramgarh AICC session.

      Mahatma Gandhi, Pandit Jawaharlal Nehru, Sardar Vallabhbhai Patel, Dr B R Ambedkar, and members of the Constituent Assembly together granted the citizens of the country the right of "one person, one vote", he noted.

      Asserting that the foundation of democracy is fair and transparent elections, Kharge said serious questions are being raised today about the fairness and transparency of the Election Commission itself.

      Instead of answering questions on the revelations from various states, the EC is demanding affidavits from us, Kharge said.

      Following the example of Bihar, a conspiracy is now being hatched across the country to remove the votes of millions of people, the Congress president said, referring to the Special Intensive Revision of electoral rolls in Bihar.

      Vote theft means theft of rations, pensions, medicine, children's scholarships, and exam fees belonging to Dalits, tribals, backward classes, extremely backward classes, minorities, the weak, and the poor, he said.

      The 'Voter Adhikar Yatra' raised awareness among the people of Bihar, and they openly came out in support of Rahul Gandhi, he said.

      Kharge alleged that the country is grappling with many problems such as economic slowdown, unemployment, social polarisation, and the targeting and weakening of autonomous constitutional institutions.

      "The promise of 2 crore jobs remains unfulfilled. Youths are wandering without employment. Demonetisation and a flawed GST have derailed the economy. After eight years, the prime minister realised his mistake. Now, the same reforms have been introduced in GST that the Congress party had been demanding from day one," Kharge said.

      "Modiji is remembering Mahatma Gandhi's 100-year-old mantra of 'Swadeshi', which the Congress party used to defeat the British. On the other hand, red carpets are being openly rolled out for China. Our imports from China have doubled in the last five years," he said.

      Focussing on Bihar, Kharge said the BJP formed the NDA government in January 2024 by re-supporting Nitish Kumar.

      "The Nitish government promised development, but Bihar's economy is lagging behind. The 'double engine' claim proved hollow, with no special package from the Centre," Kharge said.

      Pointing out that the unemployment rate in Bihar is above 15 per cent, he said every year, millions of youth migrate and due to the recruitment scam, young people are protesting on the streets and facing police lathicharge.

      "The condition of farmers in Bihar is perhaps the worst in the country. Every year, millions of people suffer losses due to floods in the Kosi and Gandak rivers. This is proof of the government's complete failure in flood management," he claimed.

      The prime minister has promised to revive Bihar's sugar industry on numerous occasions, however, even after ten years, his promise remains unfulfilled, Kharge said.

      "Internal strife within the NDA alliance is now openly visible. Nitish Kumar has been mentally retired by the BJP. The BJP now considers him a liability," he said.

      "The 2025 Assembly Elections will prove to be a milestone not only for Bihar but for the entire country. This will mark the beginning of the countdown and the end of the corrupt rule of the Modi government," Kharge said.

      Noting that 80 per cent of Bihar's population belongs to the OBC, EBC, and SC/ST categories, Kharge said the public wants transparency in caste census and reservation policies.

      The Congress and Rahul Gandhi have cornered the central government and forced a caste census, he said.

      "A caste survey was also conducted in Bihar during the tenure of the Congress-led Grand Alliance government. I want to ask the prime minister, what compelled him to fail to secure constitutional protection for the 65 per cent reservation passed by the government for the people of Bihar?" he said.

      History bears witness that the Congress government granted constitutional protection to 69 per cent reservation for the people of Tamil Nadu thirty years ago, he said.

      The double-engine government failed to achieve this here, he said.

      "The most bizarre thing was done by the chief minister of Uttar Pradesh (Yogi Adityanath), who considers himself the prime minister's successor. He previously wrote an article opposing reservations. Now, he has banned rallies held in the name of castes. Will the prime minister tell the country that on one hand, we are all talking about conducting a caste census, and on the other hand, your chief minister is talking about jailing those who take to the streets to protest the injustice and oppression they face? Is this true? You should inform the public," he said.

      Training his guns on the NDA government, Kharge said the government and administration of Bihar have been on leave for a long time and incidents of robbery and murder occur every day.

      "The crime rate is continuously increasing. There is a huge shortage of teachers in schools," he said.

      "I want to sound the bugle for Bihar's reconstruction from here today. The Congress, along with its alliance partners, will provide employment, education, health, social justice, and good governance to the people of Bihar. The people of Bihar have long dreamed of a 'golden Bihar,' and together we will make it a reality," Kharge said.

      Top Congress leaders, including Kharge, former party chief Rahul Gandhi, treasurer Ajay Maken, general secretaries KC Venugopal, Jairam Ramesh and Sachin Pilot, Bihar Congress chief Rajesh Kumar, among others, participated in the meeting.

      The Assembly polls in the state are likely to be held in November. PTI ASK DV DV

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