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    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 keeps policy rate unchanged for third time in row amid West Asia crisis
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    August 5, 2026
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.
    August 5, 2026
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    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.

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      Scania strengthens India growth strategy with the appointment of GMMCO (CKA Birla Group) as a new dealer partner

      October 31, 2025

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      The partnership with GMMCO marks a major landmark in Scania’s renewed India strategy, strengthening its regional presence and driving growth across all business segments. Bengaluru, 31th October, 2025: – Scania Commercial Vehicles India Pvt. Ltd. today announced the appointment of GMMCO Limited, part of the CKA Birla Group, as its new authorized dealer partner for Northern, Eastern and Central India. This partnership marks a key milestone in Scania’s renewed India growth strategy, reinforcing its commitment to strengthen regional coverage, enhance customer experience, and drive expansion across all business segments.

      Under this arrangement, GMMCO will be responsible for sales and service support for projects located across the Northern, Eastern and Central regions of India, while PPS Motors will continue to represent Scania in the Southern and Western territories. This strategic allocation ensures seamless national coverage, enhanced customer support, and faster response times, enabling Scania to deliver an even higher standard of service across the country.

      This collaboration represents Scania’s transition from a direct sales model to a fully dealer-driven ecosystem. Going forward, Scania will focus on product planning, innovation, and lead generation, while its dealers will independently manage sales, service, invoicing, documentation, aftermarket operations, demo fleets, and inventory. This decentralized approach enhances operational agility, improves accountability, and ensures customer-centric responsiveness through dedicated regional expertise.

      Mr. Silvio Munhoz, Managing Director, Scania Commercial Vehicles India Pvt. Ltd., commented, “The appointment of GMMCO marks an important step in Scania’s India growth journey. GMMCO’s strong industry presence, wide service network, and customer-first philosophy make them an ideal partner as we expand into new markets and business areas. This partnership reinforces our long-term vision for India and lays a solid foundation for our next phase of growth, driven by the Scania Super range and our focus on sustainable transport solutions.” Driving a Shift from Selling Products to Delivering Complete Solutions.

      Keeping in line with Scania’s global strategy of selling solutions rather than products, this partnership underscores the company’s commitment to offering end-to-end value propositions that go beyond vehicle supply. Scania’s solution-based approach encompasses application-specific product selection, tailor-made service and maintenance packages, customized financial solutions, and continuous performance optimization through connected services. With the appointment of GMMCO, Scania aims to accelerate this “solution sales” concept through a dedicated, focused, and customer oriented dealer network, ensuring that every Scania customer receives a transport solution precisely tailored to their operational and financial needs.

      Mr. Chandrashekar V, Managing Director & CEO, GMMCO Ltd., added, “We are delighted to partner with Scania, a global leader synonymous with innovation, performance, and sustainability. This collaboration reflects GMMCO’s commitment to delivering comprehensive, technology-driven solutions that empower our customers across sectors. With our deep industry reach, strong service infrastructure, and relentless focus on operational excellence, we are confident of driving Scania’s next phase of growth in India and creating exceptional value for our shared customers. " Scania’s expanding dealer network will cater to a wide spectrum of business segments, including construction, long haulage, mining, and special applications, thereby reaching a broader customer base with complete transport solutions. Both GMMCO and PPS will operate within their respective territories to provide focused regional engagement, enhanced customer access, and strong aftermarket support. Through this network expansion, Scania reiterates its commitment to strengthening customer reach, driving sustainable mobility, and building long-term partnerships that deliver cleaner, energy efficient, and future-ready transport solutions. With innovative technology, global best practices, and a clear long-term vision, Scania continues to power India’s journey toward smarter, safer, and greener transportation.

      For further information, please contact: Madhumathi N Head – Corporate Communications Mobile: +918925506107 Email: [email protected] About Scania Commercial Vehicle India Pvt. Ltd.

      With a rich heritage spanning over 130 years in mobility solutions, Scania Commercial Vehicles AB is a global leader, renowned for its world-class products and services that cater to diverse transportation markets worldwide. Scania's global workforce of approximately 50,000 employees spans more than 100 countries with its sales and service network customised to meet the specific needs of its customers. The company’s substantial research and development activities are concentrated in key locations such as Sweden, India, and Brazil. Scania remains a leading supplier of engines for industrial, marine, and power generation purposes, cementing its commitment to social, environmental, and economic sustainability. This commitment is highlighted by the adaptability of all Scania vehicles to run on alternative or renewable fuels.

      In 2007, Scania made a significant entry into the Indian market, primarily focusing on revolutionising the mining and construction segments. By 2011, Scania Commercial Vehicles India Pvt Ltd. was established, solidifying its presence in India with an automotive assembly facility at Narsapura, near Bangalore, Karnataka.

      Remaining steadfast in its commitment to India, Scania honed its attention towards mining solutions, affirming mining as the core focus of its operations in India. The company inaugurated a state-of-the-art manufacturing facility sprawled over 37 acres, covering a regional production centre of 125,794 square feet, dedicated to delivering cutting-edge solutions. In line with its assurance to offering comprehensive support, Scania India emphasises its parts and services segment. It has bolstered its service excellence with the assistance of the Nagpur Warehouse and robust service network throughout the country. This strategic initiative aims to significantly reduce lead times for customers, enhance service levels, and ensure better parts availability, focusing on delivering a superior customer experience.

      Scania India envisions itself as a vital partner in India's journey to develop smart and sustainable mobility solutions, driven by locally produced biofuels, significantly reducing carbon emissions and focusing on environmentally conscious transport solutions.

      About GMMCO Gmmco, a 5000+ crore enterprise established in 1967 and part of the prestigious CKA Birla Group, stands among India’s foremost end-to-end integrated solution provider for infrastructure, mining, energy and transportation sectors. Over the past five decades, Gmmco has played a pivotal role in building India’s industrial backbone - empowering projects that move earth, generate power, and drive national progress.

      With deep industry reach and network, Gmmco offers a comprehensive portfolio of solutions encompassing equipment sales, service, rebuilds, digital technology integration, and project management - delivering reliability, efficiency, and lifecycle value under one unified brand promise. Its 2,800-plus professionals combine deep technical expertise with customer-first agility, ensuring unmatched service excellence across every stage of the asset lifecycle.

      Guided by the CKA Birla Group’s values of trust, integrity, and innovation, Gmmco continues to redefine what it means to be a partner in progress. Recognized as a Great Place to Work for seven consecutive years and consistently featured among India’s Top 100 Workplaces, Gmmco is committed to driving sustainable growth, powering nation-building, and enabling its customers to achieve new frontiers of performance.

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

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