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    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
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    Highlights of RBI's August monetary policy
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    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
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    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
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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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    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    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
    Show AI Summary
    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
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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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Trump paints Zelenskyy into corner with his new plan to end Russia's war on Ukraine

      November 22, 2025

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      Washington, Nov 22 (AP) With his new 28-point plan to end Russia's war in Ukraine, President Donald Trump is resurfacing his argument that Ukrainian President Volodymyr Zelenskyy doesn't “have the cards” to continue on the battlefield and must come to a settlement that heavily tilts in Moscow's favour.

      Trump, who has demonstrated low regard for Zelenskyy dating back to his first term, said Friday he expects the Ukrainian leader to respond to his administration's new plan to end the war by next Thursday.

      “We think we have a way of getting peace,” Trump told reporters in an Oval Office appearance. “He's going to have to approve it.” Buffeted by a corruption scandal in his government, battlefield setbacks and another difficult winter looming as Russia continues to bombard Ukraine's energy grid, Zelenskyy says Ukraine is now facing perhaps the most difficult choice in its history.

      Zelenskyy has not spoken with Trump since the plan became public this week, but has said he expects to talk to the Republican president in coming days. It's likely to be another in a series of tough conversations the two leaders have had over the years.

      The first time they spoke, in 2019, Trump tried to pressure the then newly minted Ukrainian leader to dig up dirt on Joe Biden ahead of the 2020 election. That phone call sparked Trump's first impeachment.

      Trump made Biden's support for Ukraine a central issue in his successful 2024 campaign, saying the conflict had cost US taxpayers too much money and vowing he would quickly bring the war to an end.

      Then early this year in a disastrous Oval Office meeting, Trump and Vice President JD Vance tore into Zelenskyy for what they said was insufficient gratitude for the more than $180 billion the US had appropriated for military aid and other assistance to Kyiv since the start of the war. That episode led to a temporary suspension of US assistance to Ukraine.

      And now with the new proposal, Trump is pressing Zelenskyy to agree to concessions of land to Moscow, a massive reduction in the size of Ukraine's army, and agreement from Europe to assert that Ukraine will never be admitted into the NATO military alliance.

      “Now Ukraine may find itself facing a very difficult choice: either loss of dignity, or the risk of losing a key partner,” Zelenskyy said in a video address Friday.

      At the centre of Trump's plan is the call on Ukraine to concede the entirety of its eastern Donbas region, even though a vast swath of that land remains in Ukrainian control.

      Analysts at the independent Institute for the Study of War have estimated it would take several years for the Russian military to completely seize the territory, based on its current rate of advances.

      Trump, nevertheless, insists that the loss of the region — which includes cities that are vital defence, industrial and logistics hubs for Ukrainian forces — is a fait accompli.

      “They will lose in a short period of time. You know so,” Trump said Friday when asked during a Fox News Radio interview about his push on Ukraine to give up the territory. “They're losing land. They're losing land.” The Trump proposal was formally presented to Zelenskyy in Kyiv on Thursday by Dan Driscoll, the US Army secretary. The plan itself was a surprise to Driscoll's staffers, who were not aware as late as Wednesday that their boss would be going to Ukraine as part of a team to present the plan to the Ukrainians.

      Army officials walked away from that meeting with the impression that the Ukrainians were viewing the proposal as a starting point that would evolve as negotiations progressed, according to a US official, who spoke on condition of anonymity to discuss the sensitive talks.

      It's unclear how much patience Trump has for further negotiation. White House press secretary Karoline Leavitt said Thursday that Trump's new plan reflects “the realities of the situation” and offers the “best win-win scenario, where both parties gain more than they must give.” Asked about Zelenskyy's initial hesitant response to the proposal, Trump recalled the February Oval Office blow-up with Zelenskyy: “You remember, right in the Oval Office, not so long ago, I said, You don't have the cards.'” The mounting pressure from Trump comes as Zelenskyy is dealing with fallout over $100 million in kickbacks for contracts with the state-owned nuclear energy company. The scandal led to resignations of top Cabinet ministers and implicated other Zelenskyy associates.

      Konstantin Sonin, a political economist and Russia expert at the University of Chicago, said “what Donald Trump is certainly extremely good at is spotting weak spots of people.” One of the 28 elements of Trump's proposal calls for elections to be held within 100 days of enactment of the agreement.

      “I think it's a rationalistic assessment that there is more leverage over Zelenskyy than over Putin,” Sonin said. He added, “Zelenskyy's back is against the wall” and “his government could collapse if he agrees” to the US proposal.

      All the while, Ukraine is increasingly showing signs of strain on the battlefield after years of war against a vastly larger and better equipped Russian military. Ukraine is desperately trying to fend off relentless Russian aerial attacks that have brought rolling blackouts across the country on the brink of winter.

      Kyiv is also grappling with doubts about the way ahead. A European plan to finance next year's budget for Ukraine through loans linked to frozen Russian funds is now in question.

      The Trump proposal in its current form also includes several elements that would cut deeply into Ukrainian pride, said David Silbey, a military historian at Cornell University.

      One provision calls on Russia and Ukraine to abolish “all discriminatory measures and guarantee the rights of Ukrainian and Russian media and education,” and “all Nazi ideology and activities must be rejected and prohibited.” That element could be seen by the Ukrainian side as giving credence to Putin's airing of distorted historical narratives to legitimize the 2022 invasion.

      Putin has said the war is in part an effort to “denazify” Ukraine and complained of the country's “neo-Nazi regime” as a justification for Russia's invasion. In fact, in Ukraine's last parliamentary election in 2019, support for far-right candidates was 2%, significantly lower than in many other European countries.

      The plan's provision is “very clearly an attempt to build up Putin's claim to Russian cultural identity within Ukraine,” Silbey said. He added, “From territory loss to the substantial reduction of the Ukrainian military to cultural concessions that have been demanded, I just don't think Zelenskyy could do this deal and look his public in the eye again.” (AP) SCY SCY

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