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    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
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
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    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.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.

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      Dick Cheney, one of the most powerful, polarising vice presidents in US history, dies at 84

      November 4, 2025

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      Washington, Nov 4 (AP) Dick Cheney, the hard-charging conservative who became one of the most powerful and polarising vice presidents in US history and a leading advocate for the invasion of Iraq, has died at age 84.

      Cheney died on Monday night due to complications of pneumonia and cardiac and vascular disease, his family said in a statement.

      “For decades, Dick Cheney served our nation, including as White House Chief of Staff, Wyoming's Congressman, Secretary of Defence, and Vice President of the United States," the statement said. Dick Cheney was a great and good man who taught his children and grandchildren to love our country, and to live lives of courage, honour, love, kindness, and fly fishing. We are grateful beyond measure for all Dick Cheney did for our country. And we are blessed beyond measure to have loved and been loved by this noble giant of a man.” The quietly forceful Cheney served father and son presidents, leading the armed forces as defence chief during the Persian Gulf War under President George H.W. Bush before returning to public life as vice president under Bush's son George W. Bush.

      Cheney was, in effect, the chief operating officer of the younger Bush's presidency. He had a hand, often a commanding one, in implementing decisions most important to the president and some of surpassing interest to himself — all while living with decades of heart disease and, post-administration, a heart transplant. Cheney consistently defended the extraordinary tools of surveillance, detention and inquisition employed in response to the terrorist attacks of Sept. 11, 2001.

      Years after leaving office, he became a target of President Donald Trump, especially after his daughter Liz Cheney became the leading Republican critic and examiner of Trump's desperate attempts to stay in power after his election defeat and his actions in the Jan. 6, 2021, riot at the Capitol.

      “In our nation's 246-year history, there has never been an individual who was a greater threat to our republic than Donald Trump,” Cheney said in a television ad for his daughter. “He tried to steal the last election using lies and violence to keep himself in power after the voters had rejected him. He is a coward.” In a twist the Democrats of his era could never have imagined, Dick Cheney said last year he was voting for their candidate, Kamala Harris, for president against Trump.

      A survivor of five heart attacks, Cheney long thought he was living on borrowed time and declared in 2013 he now awoke each morning "with a smile on my face, thankful for the gift of another day,” an odd image for a figure who always seemed to be manning the ramparts.

      His vice presidency was defined by the age of terrorism. Cheney disclosed that he had had the wireless function of his defibrillator turned off years earlier out of fear that terrorists would remotely send his heart a fatal shock.

      In his time in office, the vice presidency was merely a ceremonial afterthought. Instead, Cheney made it a network of back channels from which to influence policy on Iraq, terrorism, presidential powers, energy and other cornerstones of a conservative agenda.

      Fixed with a seemingly permanent half-smile -- detractors called it a smirk -- Cheney joked about his outsize reputation as a stealthy manipulator.

      "Am I the evil genius in the corner that nobody ever sees come out of his hole?" he asked. "It's a nice way to operate, actually." A hard-liner on Iraq who was increasingly isolated as other hawks left government, Cheney proved wrong on point after point in the Iraq War, without ever losing the conviction that he was essentially right.

      He alleged links between the 2001 attacks against the United States and prewar Iraq that didn't exist. He said US troops would be welcomed as liberators; they weren't.

      He declared the Iraqi insurgency in its last throes in May 2005, back when 1,661 US service members had been killed, not even half the toll by war's end.

      For admirers, he kept the faith in a shaky time, resolute even as the nation turned against the war and the leaders waging it.

      But well into Bush's second term, Cheney's clout waned, checked by courts or shifting political realities.

      Courts ruled against efforts he championed to broaden presidential authority and accord special harsh treatment to suspected terrorists. His hawkish positions on Iran and North Korea were not fully embraced by Bush.

      Cheney operated much of the time from undisclosed locations in the months after the 2001 attacks, kept apart from Bush to ensure one or the other would survive any follow-up assault on the country's leadership.

      With Bush out of town on that fateful day, Cheney was a steady presence in the White House, at least until Secret Service agents lifted him off his feet and carried him away, in a scene the vice president later described to comical effect.

      From the beginning, Cheney and Bush struck an odd bargain, unspoken but well understood. Shelving any ambitions he might have had to succeed Bush, Cheney was accorded power comparable in some ways to the presidency itself.

      That bargain largely held up.

      "He is constituted in a way to be the ultimate No. 2 guy," Dave Gribbin, a friend who grew up with Cheney in Casper, Wyoming, and worked with him in Washington, once said. "He is congenitally discreet. He is remarkably loyal." As Cheney put it: "I made the decision when I signed on with the president that the only agenda I would have would be his agenda, that I was not going to be like most vice presidents — and that was angling, trying to figure out how I was going to be elected president when his term was over with.” His penchant for secrecy and backstage manoeuvring had a price. He came to be seen as a thin-skinned Machiavelli orchestrating a bungled response to criticism of the Iraq war. And when he shot a hunting companion in the torso, neck and face with an errant shotgun blast in 2006, he and his coterie were slow to disclose that extraordinary turn of events.

      The vice president called it "one of the worst days of my life.” The victim, his friend Harry Whittington, recovered and quickly forgave him. Comedians were relentless about it for months. Whittington died in 2023.

      When Bush began his presidential quest, he sought help from Cheney, a Washington insider who had retreated to the oil business. Cheney led the team to find a vice presidential candidate.

      Bush decided the best choice was the man picked to help with the choosing.

      Together, the pair faced a protracted 2000 post-election battle before they could claim victory. A series of recounts and court challenges — a tempest that brewed from Florida to the nation's highest court — left the nation in limbo for weeks.

      Cheney took charge of the presidential transition before victory was clear and helped give the administration a smooth launch despite the lost time. In the office, disputes among departments vying for a bigger piece of Bush's constrained budget came to his desk and often were settled there.

      On Capitol Hill, Cheney lobbied for the president's programs in halls he had walked as a deeply conservative member of Congress and the No. 2 Republican House leader.

      Jokes abounded about how Cheney was the real No. 1 in town; Bush didn't seem to mind and cracked a few himself. But such comments became less apt later in Bush's presidency as he clearly came into his own.

      Cheney retired to Jackson Hole, not far from where Liz Cheney, a few years later, bought a home, establishing Wyoming residency before she won his old House seat in 2016. The fates of father and daughter grew closer, too, as the Cheney family became one of Trump's favourite targets.

      Dick Cheney rallied to his daughter's defence in 2022 as she juggled her lead role on the committee investigating Jan. 6 with trying to get reelected in deeply conservative Wyoming.

      Liz Cheney's vote for Trump's impeachment after the insurrection earned her praise from many Democrats and political observers outside Congress. But that praise and her father's support didn't keep her from losing badly in the Republican primary, a dramatic fall after her quick rise to the No. 3 job in the House GOP leadership.

      Politics first lured Dick Cheney to Washington in 1968, when he was a congressional fellow. He became a protege of Rep. Donald Rumsfeld, R-Ill, serving under him in two agencies and in Gerald Ford's White House before he was elevated to chief of staff, the youngest ever, at age 34.

      Cheney held the post for 14 months, then returned to Casper, where he had been raised, and ran for the state's single congressional seat.

      In that first race for the House, Cheney suffered a mild heart attack, prompting him to crack that he was forming a group called "Cardiacs for Cheney." He still managed a decisive victory and went on to win five more terms.

      In 1989, Cheney became defence secretary under the first President Bush and led the Pentagon during the 1990-91 Persian Gulf War that drove Iraq's troops from Kuwait. Between the two Bush administrations, Cheney led Dallas-based Halliburton Corp., a large engineering and construction company for the oil industry.

      Cheney was born in Lincoln, Nebraska, the son of a longtime Agriculture Department worker. Senior class president and football co-captain in Casper, he went to Yale on a full scholarship for a year but left with failing grades.

      He moved back to Wyoming, eventually enrolled at the University of Wyoming and renewed a relationship with high school sweetheart Lynne Anne Vincent, marrying her in 1964. He is survived by his wife, by Liz and by a second daughter, Mary. (AP) SKS SKS

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