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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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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      2025 Chery International User Summit: Shaping the Industry's Future Through Co-Creation and Innovation

      October 21, 2025

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      WUHU, China, Oct. 21, 2025 /PRNewswire/ -- On October 21, 2025, the 2025 Chery International User summit — a global gathering transcending geography and culture — was grandly held in Wuhu, China.

      With the theme "Co-Create, Co-Define," the event brought together more than 3,000 participants from nearly 100 countries, including overseas users, dealership partners, members of the ESG Advisory Alliance, and international media representatives, to engage in an in-depth dialogue about the future of mobility.

      In his keynote address at the opening ceremony,Yin Tongyue, Chairman of Chery Automobile Co., Ltd. (9973.HK), elaborated on the strategic essence of "Co-Create, Co-Define." From January to September 2025, Chery Group's global sales surpassed 2 million units, with European sales more than doubling year-on-year to reach 145,000 units, showcasing the tangible value of global co-creation.

      Mr. Yin emphasized that Chery is evolving from an automobile manufacturer into a builder of intelligent mobility ecosystems. Guided by the principle "In somewhere, For somewhere, Be somewhere," the Group continues to advance localization by partnering with local universities and enterprises to develop localized products and nurture local talent, striving to become a truly local enterprise.

      He also emphasized that ESG is central to sustainable development. Chery will continue working with international organizations to advance low-carbon technologies and public welfare initiatives, fulfilling its responsibility as a global corporate citizen. Mr. Yin concluded by reaffirming Chery Group's commitment to building an open, inclusive, and sustainable automotive ecosystem together with its global partners.

      Co-Creation — Building an Open and Collaborative User Ecosystem Global Voices, Shared Stories At the User Awards Ceremony, representatives from Vietnam, South Africa, Kazakhstan, Spain, and Indonesia shared their stories of connection with Chery.

      Le Nguyen Bao Ngoc, brand ambassador for OMODA & JAECOO Vietnam, integrates sustainability into brand communication. Samurai Farai, a South African artist, infused local culture into Chery through creative vehicle art. Mussa Ramazanov from Kazakhstan demonstrated the reliability of EXEED vehicles after driving over 100,000 km. Carlos Guisado from Spain and his family showcased their deep trust by choosing the OMODA & JAECOO brand. Humam from Indonesia built a local community of over 300 Chery owners, forming a thriving content ecosystem.

      From CHERY, OMODA & JAECOO, and EXEED to iCAUR, LEPAS, and LUXEED, users around the world are not just customers — they are co-creators shaping Chery's global brand narrative. Their authentic engagement gives Chery a warmer, more human presence in the global marketplace.

      Expanding the ESG Alliance: Building a Global Network for Sustainability A key highlight of the conference was the launch of the Chery Global ESG Advisory Alliance, marking a major upgrade in Chery's sustainability strategy.

      This year, the alliance expanded significantly — welcoming new globally influential members such as the IUCN, the United Nations University, and the Asian Paralympic Committee.

      The alliance now encompasses a broader network of media, NGOs, and financial institutions, fostering a rich, collaborative ecosystem.

      Notably, former UN Secretary-General Ban Ki-moon attended in person and officially joined the alliance as an ESG Advisor.

      His participation not only enhanced the alliance's international credibility but also reflected global recognition of Chery's sustainability roadmap. Through this upgraded alliance, Chery is transforming ESG from an internal corporate initiative into a global collaborative movement, promoting deep cooperation in low-carbon R&D, public welfare programs, and industry standardization.

      At the ESG strategy level, Chery has built a comprehensive framework supported by three key pillars: "Low-Carbon Transition and Nature Positive," "Value Chain Collaboration," and "Self-Discipline and Compliance Development." The Group has already made substantial progress across multiple dimensions.

      On the technological front, Chery promotes low-carbon transformation through innovations such as the Mars Architecture Hybrid Platform and solid-state battery technology.

      On the environmental front, it became the first Chinese automaker to receive a mutual recognition report for Life Cycle Assessment (LCA) between China and the EU.

      On the social responsibility front, Chery continues to collaborate with UNICEF on the "Empowering Every Child's Learning Journey" initiative and works with the IUCN to advance global nature conservation projects — demonstrating its firm commitment to turning ESG promises into tangible action.

      Co-Define — Shaping the Strategic Blueprint for Intelligent Mobility Strategic Elevation Defines a New Paradigm for Intelligent Mobility In the grand finale, Mr. Zhang Guibing, President of Chery International, delivered a keynote speech themed "Co-Creating Sustainable Development, Co-Defining the Future Ecosystem," elaborating on Chery's strategic evolution from a traditional automaker to a builder of intelligent mobility ecosystems.

      He noted that Chery has ranked No.1 among Chinese brands in overseas sales for 22 consecutive years, with monthly exports exceeding 100,000 units for five consecutive months. Its new energy vehicle growth rate leads among China's top five auto brands, and PHEV models have achieved No.1 retail sales in multiple markets — achievements that firmly validate the foundation of Chery's strategic transformation.

      Driven by the global trends of low-carbon transition and AI intelligence, the automotive industry is rapidly evolving toward an integrated "vehicle + ecosystem" model. In this context, Chery is building a comprehensive technology ecosystem that transcends the traditional automotive domain — one that deeply integrates users, vehicles, robots, and big data.

      This system is anchored in intelligent, connected new energy vehicles, while extending into emerging fields such as flying cars, robotaxis, robotics, photovoltaics, and green energy, forming a diversified and synergistic innovation network. Moving forward, Chery will dedicate part of its teams to the automotive business and others to the research, development, and operation of new ventures like robotics, jointly shaping a future-oriented mobility ecosystem.

      Mr. Zhang further detailed Chery's roadmap: Strengthening leadership in PHEV hybrid and BEV electric platforms. Accelerating commercialization of autonomous driving technologies. Advancing innovation in robotics and aerial mobility. Deepening localization under the philosophy "In somewhere, For somewhere, Be somewhere." This strategic transformation marks Chery's evolution from a traditional automaker into a green, intelligent mobility technology company that co-creates, co-defines, and co-prospers with its users and partners. By building an open and collaborative innovation ecosystem, Chery is not only redefining the boundaries of the mobility industry but also opening new pathways for shared growth with global partners.

      Co-Create. Co-Define. Co-Win the Future.

      Through its dynamic structure of speeches, dialogues, and collaborative announcements, the 2025 Chery International User Summit vividly embodied its theme of "Co-Create, Co-Define." From Ban Ki-moon's participation to user stories from across the globe, from the robotic performances that opened the event to the upgraded ESG Alliance, Chery conveyed a clear message to the world: It is not building a closed product system, but an open, evolving, user-driven mobility ecosystem.

      As technology converges with humanity, and users evolve from product consumers to ecosystem co-creators, Chery's vision extends beyond cars — toward a new way for people to connect with the world.

      (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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