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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
    Show AI Summary
    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
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    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
    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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      World Future Energy Summit 2026 to spotlight potential of AI in Middle East’s clean energy sector

      November 27, 2025

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      • AI will be key enabler for countries to achieve national clean energy goals • AI technologies help companies reduce energy consumption by as much as 60% • Artificial Intelligence Conference to explore ways to tackle AI’s energy footprint Abu Dhabi, UAE - November 27, 2026: As artificial intelligence emerges as a transformative force in the clean energy sector, the World Future Energy Summit 2026 will spotlight its vast potential to reshape energy production, transmission, and efficient, data-driven distribution. Running from January 13-15 at Abu Dhabi National Exhibition Centre (ADNEC), the three-day show is an integral part of Abu Dhabi Sustainability Week 2026. With the theme of AI running across all seven conference tracks at this year’s show, the 2026 edition will build on that momentum, raising the bar with the launch of the FUSE AI Zone, a dedicated platform where more than 40 companies will showcase cutting-edge AI solutions to drive clean energy, smart infrastructure, and climate resilience. The event will also incorporate the inaugural Artificial Intelligence Conference, a forum exploring how AI can be responsibly harnessed to accelerate progress across the energy, infrastructure, and smart cities sectors. Gathering thought leaders, innovators, and policy influencers, the Summit will laser in on AI’s predictive power and its ability to optimise the management of clean energy flows, providing a vital technical boost to help low-carbon systems scale effectively. Using AI to Accelerate Technical Breakthroughs In the Middle East and North Africa (MENA), AI adoption is accelerating across multiple areas, from grid and demand-response management to sector coupling and system maintenance. Advances in forecasting and energy storage are also enhancing performance, enabling companies to deliver renewable energy with greater efficiency and reliability. Yet important questions remain about how best to unlock AI’s full potential to power the sustainable energy systems of the future. For example, can AI make up for shortcomings in energy policy that hold back the transition to carbon-free energy? Can it accelerate innovation to enable researchers and entrepreneurs to more rapidly test and prove technologies that make a direct impact on decarbonisation? These pressing issues, plus the potential of AI to advance the exploration of mineralisation for carbon capture, will be addressed by leading experts at January’s World Future Energy Summit, now globally recognised as the world’s premier business event focused on future energy and sustainability. The UAE's clean energy goals, driven by its Net Zero by 2050 Strategic Initiative, involve increasing clean energy to 50 per cent of the total energy mix by 2050, reducing carbon emissions by 70 per cent, and tripling renewable energy capacity by 2030. AI will be a key enabler for achieving these clean energy targets across the region. The World Future Energy Summit and Abu Dhabi Sustainability Week’s Advisory Committee’s 2025 AI and Technology Insights Report supports this, stating that AI can significantly enhance the efficiency and reliability of clean energy and infrastructure networks both regionally and globally. According to the report, smart grid algorithms can accurately predict and then balance electricity supply and demand in real time, integrate renewables, and reduce the need for constructing new power plants. Investment in digital infrastructure and skills is key, however, so that utilities can harness data for grid optimisation and predictive maintenance. Driving Energy Efficiency in Homes and Businesses The 2026 edition will also highlight the growing role of AI in enhancing energy efficiency within buildings. According to the World Economic Forum, AI technologies are already helping companies reduce energy consumption by up to 60 per cent in some cases. While the industry has only just begun to tap into AI’s full potential in this field, the opportunities for progress are vast. Through panel discussions and keynote sessions, a powerhouse of industry experts will explore the key challenges and opportunities surrounding energy efficiency in homes and businesses across the MENA region and beyond. Speakers will discuss how new AI- and automation-powered design tools can help create spaces that are energy-, water- and people-efficient, all while staying within budget. They will also examine how smart software can rapidly test design options to identify solutions that cut costs and reduce environmental impact. Additional sessions will address how innovation, collaboration, and resilient supply chains can help build sustainable urban futures. Shyam Parmar, the Summit’s Event Director, added: “By bringing together some of the brightest minds from across the global energy landscape, the World Future Energy Summit plays a pivotal role in unlocking the vast potential of artificial intelligence, not only to drive greater energy efficiency in homes and businesses, but to accelerate progress across the entire clean energy and sustainability ecosystem. “The new FUSE AI Zone and Artificial Intelligence Conference provide an unparalleled platform for knowledge exchange, collaboration, and lively debate on how AI can be deployed responsibly and effectively. These conversations are vital to advancing the AI agenda and ensuring companies can fully harness their capabilities to meet clean energy ambitions. By facilitating this dialogue, we’re helping to translate innovation into action, and turning bold ideas into tangible outcomes that move the world closer to a sustainable energy future.” Understanding AI’s Energy Consumption AI’s transformative potential is undeniable, yet credible estimates project AI-related electricity consumption could grow by as much as 50 per cent each year from 2023 to 2030. The electricity demand of data centres is also projected to grow, from one per cent of global energy demand in 2022 to more than three per cent by 2030. In January 2025, Masdar and Emirates Water and Electricity Company announced the launch of the world’s first large-scale round-the-clock giga-scale project, combining solar power and battery storage in Abu Dhabi. Delivering up to one gigawatt of baseload power every day generated from renewable energy, it will be the largest combined solar and battery energy storage system in the world. According to the 2025 AI and Technology Insights Report, such projects could redefine how critical AI systems are powered, eliminating the need for fossil fuel-backup. By connecting to clean energy sources, AI data centres could operate with near-zero carbon emissions, marking a major step towards a more sustainable digital future. The Summit will explore ways to tackle AI’s energy footprint with a dedicated panel session on actionable strategies to realign AI growth with climate goals, balance energy consumption, and drive sustainable innovation without sacrificing usability. “AI’s role in climate and environmental systems is expanding rapidly and understanding how to guide that growth is becoming just as important as advancing the technology itself,” said Mehdi Ajana, Head of Strategy at Nabat. “At the World Future Energy Summit, we’ll look at practical, data-driven approaches, from improving habitat classification and health assessment model accuracy, to monitoring carbon and biodiversity metrics that help align AI innovation with measurable climate outcomes”. “It’s a great opportunity for like-minded organisations to come together, listen, learn, and explore what’s possible and to understand how AI can be deployed responsibly to accelerate real progress towards global sustainability goals.” Paving the Way to a Sustainable Future The 2026 edition of the World Future Energy Summit will also explore the role of AI in healthcare, food security, and weather modelling, with a keynote presentation on Earth Two Climate, G42, and NVIDIA’s new AI-powered weather forecasting solution that accurately gauges weather conditions down to a single square-metre. This is invaluable to farmers and smart agriculture planners, who can make more informed decisions on crop choices, yield expectations, maintenance procedures, and more. From cutting energy waste to improving health outcomes and driving farming efficiencies, AI is a powerful means to accelerate sustainability solutions. According to the 2025 AI and Technology Insights Report, however, it must be guided by clear human-defined goals: “Technology deployments should focus on solving real problems rather than adopting AI for AI’s sake”. That means human oversight, strategic vision, and multidisciplinary collaboration should be seen as essential in order to convert AI’s promise into tangible progress, paving the way to a cleaner, greener, and more sustainable future. The World Future Energy Summit 2026, hosted by Masdar and part of Abu Dhabi Sustainability Week, will take place from January 13–15 at ADNEC Centre Abu Dhabi. For visitor registration, visit: https://www.worldfutureenergysummit.com/en-gb/register-now.html - ENDS - World Future Energy Summit: As the largest event during ADSW, the World Future Energy Summit continues to be a driving force for innovation, collaboration, and thought leadership in renewable energy and sustainability. Now entering its 18th edition, the Summit has established itself as a vital platform bridging policy with real-world action and business growth. The 2026 edition, taking place from 13–15 January, will feature more than 800 global brands, the dynamic Greenhouse start-up zone, the Fuse AI cleantech pavilion, and the debut of the Greenpeace Cinema. Over three days, attendees will have the opportunity to join conferences led by 300+ industry experts, explore nine exhibition halls showcasing breakthrough products and solutions, and connect with more than 50,000 participants from across the globe. About Abu Dhabi Sustainability Week Abu Dhabi Sustainability Week (ADSW) is a global platform supported by the UAE and its clean energy leader, Masdar, to address the world’s most pressing sustainability challenges through crucial conversations accelerating responsible development and fostering inclusive economic, social and environmental progress. For more than 15 years, ADSW has convened decision-makers from governments, the private sector and civil society to advance the global sustainability agenda through dialogue, cross-sector collaboration and impactful solutions. Throughout the year, ADSW conversations and initiatives facilitate knowledge sharing and collective action that will ensure a sustainable world for future generations. About Masdar Established in 2006, Masdar (Abu Dhabi Future Energy Company) is a global clean energy leader, transforming how the world produces and consumes energy through bold innovation and commercial excellence. Masdar is a clean energy investor, developer and operator, advancing renewable energy projects across key markets and technologies, with a global project portfolio capacity to date of over 51 gigawatts (GW). Jointly owned by TAQA, ADNOC and Mubadala, Masdar is driving the scale-up of renewables worldwide, targeting a portfolio capacity of 100GW by 2030. Contact: For media inquiries, please contact: [email protected] | For more information, please visit: https://www.masdar.ae and connect: facebook.com/Masdar.ae and twitter.com/Masdar (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI

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