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    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    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
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    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      RSS @100: From humble beginning to one of the most influential social organisations

      October 1, 2025

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      New Delhi, Oct 1 (PTI) On September 27, 1925, Keshav Baliram Hedgewar, a doctor shaped by the freedom movement, gathered a small group of young men, most of them teenagers, at his home in Nagpur, and made a simple announcement: "We are inaugurating Sangh today".

      The beginnings were unassuming but not a surprise to young followers of "doctorji", as Hedgewar was fondly called by his friends. He had been working on this idea to organise the Hindu society for nation-building through character building of people.

      About two and a half years before that, Hedgewar had started a Rashtriya Swayamsevak Mandal in Wardha as part of his experiments to work out a model that could help "transform society".

      The Sangh that he launched on the day Vijayadashmi started with monthly baithaks (gathering of young men ) at his home.

      "Four or five times the karyakartas attended the baithak on their own and later on they had to be intimated. Then a situation developed, in which they failed to attend the baithak even after getting the intimation.

      "Then suggestions were made that instead of monthly baithaks, weekly baithaks should be held so that attending the baithaks would become a habit," RSS chief Mohan Bhagwat recalls in 'Future Bharat', a compilation of the lectures he delivered in 2018 in Delhi.

      "Then the baithak was made daily. The daily baithaks and discussions used to be held in a room," Bhagwat said, adding that Hedgewar wanted regular meetings.

      A full-fledged outdoor shakha later started in an open ground in the next few months, with the young boys in Hedgewar's flock of swayamsevaks keen on physical activities instead of just sitting together and discussing various topics.

      A khaki nicker and white shirt with a lathi became the swayamsevak's 'ganvesh' and physical activities were a regular feature at the shakha. Marthand Jog, a retired military personnel and Hedgewar's friend, started physical training of the Swayamsevaks along with parade sessions.

      But the organisation was yet to get a formal name.

      "When those who were attending the shakha started bringing others, the newcomers started asking about the Sangh's name. So when the karyakartas put this question to doctorji, he said: 'it has not yet been decided. You sit together and decide'," Bhagwat recalled.

      Accordingly, about 16 swayamsevaks sat together in the presence of Hedgewar, and the organisation got its name as the Rashtriya Swayamsevak Sangh (RSS) on April 17 with the approval of the meeting, as a majority voted in its favour out of the four names proposed by the participants.

      "Dr R Hedgewar was always in the habit of taking collection decisions which became the habit in the Sangh," Bagwat was quoted as saying in the book.

      While the Sangh got its name six months after its formation, the posts of Sarsanghchalak, Sarkaryavah and Sarsenapati (chief trainer) were created four years later.

      "The creation of the position of the Sarsanghchalak was in itself an affair extraordinaire. After discussion and debate on the changing political circumstances in the country, a two-day meeting of all prominent swayam sevaks was held in Nagpur on 9 and 10 November 1929," former BJP MP Rakesh Sinha says in his book 'The Builders of Modern India- DR Keshav Baliram Hedgewar'.

      The meeting decided to keep the base of the organisation as one adhering to a unitary leadership structure (Ekchalakanuvartitwa).

      "On the last day of the meet, at a bigger gathering of swayamsevaks, Appaji Joshi passed an edict before announcing the decisions of the Sangh meeting: "Sarsanghchalakpranam (greetings) one, two, three".

      "All swayam sevaks then greeted Dr Hedgewar as the Sarsanghchalak", Sinha writes.

      "He was quite taken aback. After the programme was over, he gave vent to his refusal to Appaji Joshi: 'I don't like receiving the salutations of such venerable individuals who are dedicated to sacrifice'.

      "Upon this, Appaji informed him that this was the collective decision of the Sangh and 'in the interests of the organisation, you must accept this decision even though it displeases you'," Sinha adds.

      From a modest start with baithaks of a handful of swayamsevaks in a small town in Nagpur, the RSS, which completes 100 years of its foundation on Thursday, has come a long way to become the world's biggest voluntary organisation with a pan-India presence, shaping the country's political and social discourse.

      Over the years, a large number of RSS-inspired organisations have been formed by the swayamsevaks. Of them, 32 are prominent, including Bharatiya Majdoor Sangh, Vanvasi Kalyan Ashram, Akhil Bharatiya Vidyarthi Parishad and Bharatiya Janata Party (BJP).

      After Independence, the RSS faced three bans by the then governments, with the first being imposed after Mahatma Gandhi's assassination by Nathuram Godse on January 30, 1948. The RSS' second Sarsanghchalak, MS Golwalker, was arrested on February 1, 1948, as the then government blamed the Sangh for the assassination. The year also saw thousands of swayamsevaks being arrested.

      The RSS was banned for the second time on July 4, 1975, and Balasaheb Deoras, the then RSS chief, was arrested after the Indira Gandhi government imposed the Emergency on June 25.

      The state of Emergency, which lasted 21 months, saw thousands of RSS workers being arrested and some even tortured to death, several RSS leaders recall. A large number of Sangh leaders and workers, however, continued their agitation against the imposition of the Emergency while remaining underground.

      The RSS was banned for the third time after the demolition of the Babri mosque in Ayodhya.

      The RSS is running about more than one lakh daily, weekly and monthly 'shakhas' across the country.

      As part of its centenary plans, it is set to carry out a pan-India door-to-door public outreach campaign and organise over one lakh Hindu sammelans, starting with Mohan Bhagwat's annual Vijayadashmi address at its Nagpur headquarters on Thursday.

      "At the start of the Sangh, there was one word that signified its ideology 'nation'. The organisation too had just one category of membership -- the 'swayam sevak'. As the Sangh expanded, its organisational edifice began to take shape," former BJP MP Rakesh Sinha notes in his book.

      "The shakha is not a physical training centre, but an ideological centre for an intellectual movement. The plan of a 'SanghShikshaVarg' (Sangh educational class) for training swayamsevaks and strengthening their commitment was also implemented later," he says.

      With the BJP at the helm in several states and at the Centre under the leadership of Prime Minister Narendra Modi, a former RSS pracharak, the Sangh is looking forward to continuing its mission with much vigour and motivation.

      "In the last few years, the picture of the country changed and the governments too, with the success of our work," RSS general secretary Dattatreya Hosabale said at an event where Prime Minister Modi launched a commemorative postage stamp and a coin to mark the Hindutva organisation's centenary.

      "... A new path has emerged. We have to strengthen Bharat's vimarsh (narrative) within the country and across the global stage as well. Across the world, Bharat's narrative about Bharat must be positive, based on truth. This is the Sangh's idea on this occasion of its centenary," he added.

      As part of the RSS key agenda of ‘Panch Parivartan’, a five-fold transformation of society, Hosabale called upon people to promote and adopt 'swadeshi' products and make India self-reliant. PTI PK RT

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