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    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
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    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
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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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    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
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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
    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
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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.

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      India Leads Historic 20th Tipitaka Chanting Ceremony, Reawakening Buddhism’s Motherland

      October 16, 2025

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      Mumbai (Maharashtra) [India], October 16: Recently, A press conference was held at the Press Club in Mumbai to announce the 20th International Tipitaka Chanting Ceremony, scheduled to take place from December 2–13, 2025, at the Sacred Seat of Enlightenment in Bodhgaya, Bihar. Organized by seventeen Buddhist organizations from across India, this milestone event celebrates two decades of spiritual unity and the revitalization of the Buddha’s teachings under the sacred Bodhi Tree. The press conference was graced by esteemed dignitaries, including ITCC President Most Venerable Bhante Sanghasena, Secretary General Most Venerable Bhante Vinay Rakkhita, Vice President Most Venerable Bhante Agradhamma, and Treasurer Venerable Ayya Sakya Dhammadeena, who shared their vision for this historic gathering. Since its inception in 2006, the International Tipitaka Chanting Ceremony has grown into the largest international Buddhist event in South East Asia and India, uniting monastics and lay devotees from around the world to celebrate and revitalize the Dharma in the land where the Buddha attained enlightenment. This year, India takes the lead in hosting this noble tradition, reaffirming its role as the motherland of global Buddhism. A Global Gathering for Peace and Spiritual Revival The 10-day festival will bring together over 20,000 Indian monks and laypeople, including 10,000 devotees from Maharashtra, and more than 5,000 international monastics from Thailand, Myanmar, Sri Lanka, Cambodia, Laos PDR, Vietnam, Indonesia, Nepal, Bangladesh, and the United States. Over 1,000 volunteers from across India, including 500 from Maharashtra, will dedicate their service to support the event. The ceremony will feature daily recitations of the Buddha’s teachings in Pali under the Bodhi Tree, discourses by Buddhist Dhamma gurus, question-and-answer sessions, an art gallery, cultural performances by artists from India and abroad, and a vibrant exchange of ideas and cultures. A highlight of this year’s event is the consecration and donation of 220 four-foot golden Buddha statues, handcrafted in Odisha, to lay devotees and communities across India. These statues, symbolizing wisdom and compassion, will serve as spiritual foundations for new temples, meditation centers, and community spaces, marking the resurgence of Buddhism in its sacred homeland. Event Highlights The ceremony will commence on December 2, 2025, with a grand international Buddhist parade at 8:00 a.m., featuring pandals representing Buddhist nations in a resplendent display of devotion and unity. Thai and Vietnamese devotees will offer magnificent floral decorations, with vivid blossoms honoring the Buddha beneath the Bodhi Tree. The event will conclude on December 13 with a commemorative walk from Jethian Valley to the Mango Grove of Rajgir, retracing the Buddha’s footsteps, with over 1,000 pilgrims from 22 countries expected to join this historic yatra. Confirmed dignitaries for the opening ceremony include Pema Khandu, Chief Minister of Arunachal Pradesh; Chowna Mein, Deputy Chief Minister of Arunachal Pradesh; and Wangki Lowang, Minister of Forest & Environment, Mining & Minerals, Government of Arunachal Pradesh. Invitations have been extended to Mohammad Arif Khan, Governor of Bihar; Kiren Rijiju, Union Minister (December 6); Ramdas Athawale, Minister of State for Social Justice & Empowerment (December 7); and Nitin Gadkari, Union Minister, for the closing ceremony on December 12. Economic and Cultural Impact: The event is expected to generate approximately 20 crore in business for Bodhgaya and its surrounding areas, significantly boosting the local tourism and hospitality sectors. With chartered and scheduled flights bringing international pilgrims, the ceremony underscores Bodhgaya’s importance as a global spiritual hub. Voices of Inspiration: Wangmo Dixey, Executive Director of the Light of Buddhadharma Foundation International (LBDFI) and founder of the event, shared: “It is a great honor to bring the sound of Dharma back to the Motherland of India. Each recitation under the Bodhi Tree carries a wish for peace—not just for ourselves, but for all beings. In these urgent times, our prayers in Bodhgaya become a global call for unity, compassion, and harmony.” Most Venerable Bhante Sanghasena, President of ITCC–India, reflected: “For twenty years, the International Tipitaka Chanting Ceremony has served as a sacred bridge connecting the Buddha’s homeland with Buddhist nations worldwide. Beneath the Bodhi Tree, the voices of the Sangha rise together as one—transcending borders, traditions, and languages. I express my deep appreciation to Most Venerable Tarthang Tulku Rinpoche and Ms. Wangmo Dixey, whose noble vision and tireless efforts gave birth to this extraordinary spiritual movement. This ceremony is a spiritual renaissance for humanity, reminding us that the Buddha’s timeless wisdom continues to illuminate our world today. I wholeheartedly invite all to join this historic gathering.” Supporting the Sangha and Attendees A 30,000-square-foot food tent at the Kalachakra grounds beside the Mahabodhi Temple will provide free meals to all participants, with daily dāna offerings hosted by lay devotees and Buddhist organizations in a spirit of generosity and fellowship. About the Organizers The event is organized by the Light of Buddhadharma Foundation International (LBDFI) in collaboration with the International Tipitaka Chanting Council (ITCC), dedicated to preserving and promoting the Buddha’s teachings through prayer gatherings and pilgrimages. For more information, visit www.lbdfi.org and www.tipitakachantingcouncil.org. The 20th International Tipitaka Chanting Ceremony invites all to join this historic gathering to lend their voices to the sacred chanting and their hearts to the preservation of the Buddha Dhamma. (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI

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