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    Rupee gains 20 paise to close at 95.08 against US dollar post-RBI policy decision
    TN Budget: Revenue deficit at Rs 55,775 crore, fiscal deficit estimated at Rs 1,21,819 crore
    Tatkare slams ‘gungi gudiya’ jibe against Sunetra; Cong says row being exploited for political gains
    RBI invites public comments on Draft Guidelines for ‘on tap’ Licensing of Urban Co-operative Banks
    Pakistan-origin dry dates, routed through UAE, seized at Kandla port
    RBI keeps rates unchanged, retains neutral stance; outlook uncertain on El Nino, geopolitical risks
    Government Notifies Inventory-based Cross-border E-Commerce Export Framework under Foreign Trade Policy 2023
    Customs official among 5 held for smuggling gold of Rs 1.44 crore at Indore airport
    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
    DRI seizes 364 metric tonne (MT) banned Pakistan-origin dry dates imports worth Rs. 3 crore
    Rupee gains 13 paise to close at 95.15 against US dollar post-RBI policy decision
    ED raids premises linked to ex-Andhra MLA Malla Vijaya Prasad in chit fund scam
    'Gungi gudiya' remark against Sunetra shows Cong's 'ideological bankruptcy': NCP leader Tatkare
    RBI holds interest rates for fourth straight meeting, awaits clearer inflation outlook
    Highlights of RBI's August monetary policy
    RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
    Sensex trades higher, Nifty flat post RBI policy
    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
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    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory operations require confirmed orders, traceable segregated stock, timely seller payments and proportionate export-benefit pass-through.
    The Inventory-based Cross-border E-Commerce Export Framework permits export-only inventory operations through a registered Exporter-on-Record, which procures goods against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted for domestic sale. Sellers must receive timely payment irrespective of overseas buyer payment, proportionate pass-through of export rebates and refunds, and visibility of sale prices, orders and shipment tracking. Annual compliance certification and digital records are required.
    August 5, 2026
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    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
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    Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
    The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
    August 5, 2026
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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.

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      India's Educational Progress Reflects PM Modi's Visionary Leadership; Aimed to Make India Global Education Hub, Says Governor Haryana

      November 29, 2025

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      Chandigarh University honors 782 schools, teachers, principals and meritorious students from 18 States & UTs for excellence in academics, sports & culture Chandigarh, India (NewsVoir) To honour the invaluable contribution made by private schools in elevating the stature of education, sports and culture in the country, Chandigarh University in collaboration with Federation of Private Schools and Associations of Punjab (FAP) felicitated principals, teachers and students from over 800 schools across India during the 5th edition of the FAP National Awards 2025 held at Chandigarh University campus. Governor of Haryana, Prof Ashim Kumar Ghosh, inaugurated the FAP National Awards 2025 as the Chief Guest. He was accompanied by his wife Mitra Ghosh. Besides Member of Parliament (Rajya Sabha) and Chancellor, Chandigarh University, Satnam Singh Sandhu who presided over the event as Guest of Honour, the other dignitaries who graced the event included Dr G Immanuel, Chairman of Council for the Indian School Certificate Examinations (ICSE), singer, actor and lyricist Gurnam Bhullar, Chandigarh University Vice-Chancellor, Dr Raviraja N Seetharam, Senior Managing Director Chandigarh University Deepinder Singh Sandhu and President of FAP Dr Jagjit Singh Dhuri. On the opening day of FAP National Awards 2025, 782 schools, teachers, principals and meritorious students from 18 States & UTs were felicitated with the awards. During the inaugural ceremony, 20 awards were given for Lifetime Achievement, Academic Achievement, Pride of India- Academic Achievement and Pride of India- Sports Achievement Awards. In all, Lifetime Achievement Award was given to 50 principals and teachers, Pride of India- Academic Achievement Awards were given to 315 awards students of 105 schools and 41 schools were given awards for achievements in sports. Pride of India- Sports Achievement Awards were also given to 356 students. In the two-day award ceremony, awards will be given to teachers, students and schools from 18 States and Union Territories including Punjab, Haryana, Himachal Pradesh, Delhi, Chhattisgarh, Gujarat, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Odisha, Rajasthan, Uttar Pradesh, Chandigarh, Arunachal Pradesh, Assam and Bihar. These Awards will be given in four categories including The Best School Award, Lifetime Achievement Award, Pride of School Award and The Best Student Award (Pride of India) for their futuristic vision and meritorious achievements in the domains of academic, sports, cultural and social contribution. In his inaugural address, Governor of Haryana, Prof Ashim Kumar Ghosh said, “Private sector plays a pivotal role in elevating the standard of school education in our country. Of about 14.72 lakh schools in India, there are 3.40 lakh private schools which account for 23% of the total schools. I strongly feel that an organization like FAP must come forward in ensuring the children from weaker sections of society have their fair representation in private schools as well which will further promote equity and inclusiveness in education.” “Our progress in education also reflects the visionary leadership of our Prime Minister Shri Narendra Modi ji under whom historic reforms have strengthened India's position as a global education hub. The PM Shree scheme has modernized over 4,500 schools providing world class infrastructure and access. The National Education Policy has placed research, innovation, and knowledge at the center of learning. As a result, India's ranking in the Global Innovation Index has improved from 81 in 2014 when Prime Minister Modi ji had come to power to 39 in 2025 which is a remarkable achievement. Patent filings have grown up by 31% and India now ranks 4th globally with 1.3 million academic research publications in the last five years. The government's decision to reduce patent application fee is by 80% for institutions has accelerated this change,” the Governor added. Prof Ashim Kumar Ghosh further said, “Moreover, the education budget has risen from Rs 79,451 Crore in 2014 to a historic figure of Rs Rs 1,28,650 Crore in 2025-26. As we honor today's achievers let us reaffirm our collective commitment to shaping a brighter more innovative and inclusive future for India's children.” Commending the award recipients for their significant contributions in shaping the minds of the youth, Satnam Singh Sandhu, Member of Parliament (Rajya Sabha) and Chancellor of Chandigarh University, said, “As an educationist, I can say that whatever change that has come in the society has come because of teachers. Our visionary Prime Minister Narendra Modi’s has given the vision of a Atmanirbhar Bharat and Viksit Bharat by 2047. I am sure the biggest role in realizing this vision will be played by the provided educational institutions and private school teachers because it is not possible for government to do everything or even fulfil the need of quality education which is being fulfilled by the private institutions for making this vision a reality. So today India has emerged from the 11th largest economy in the world to become the fourth largest economy. Even children from the poorest of the poor backgrounds can touch the heights of progress with the power of education. Five years ago, no one had thought that private schools would get the same honor and respect as government schools. Which has been possible through these FAP Awards.” “Children from the poorest of backgrounds can touch the skies of progress with the power of education. Affectionate and devoted teachers play the most important role in giving strength to the flight of children. The new National Education Policy 2020 aims to make India a Global Knowledge Superpower. Our educational institutions and teachers have to contribute actively in school education, higher education and skill education to achieve this goal. I am sure our teachers will establish India as a Global Knowledge Superpower with their crucial contribution,” he added. Dr G Immanuel, Chairman of Council for the Indian School Certificate Examinations (ICSE) said, “Now around the world now there is a lot of competition happening and every school education board is trying to compete from with other board. The best practices are being transferred easily. Most of the boards are going for STEAM education now. Earlier, STEM education which means Science, Technology, Engineering and Mathematics (STEM) education was followed. Now, to this we added Art. Art is very important because Art is part of everything. In STEM education, Art is being added to make it more collaborative, more useful for everybody.” Warning against the dangers of digital information, Dr G Immanuel said, “Learning doesn't happen and only within the school premises in the schools, colleges or universities. It happens everywhere anyway with lots of information freely flowing. Now one has to regulate this. Unless we regulate this information to decide which information should be taken in and which information should not be taken in, it may affect and cause a problem. Therefore, as educators we need to reach out to the children and have some regulatory system as unregulated information may cause a lot of havoc for everybody. Now, digital information is causing problems for everybody. There are countries and universities around the world who are going back to physical books and physical way of teaching because e-books, smart boards, they are causing lot of problems.” In his address, President of FAP Dr Jagjit Singh Dhuri said, “Private schools are playing a pivotal role in school education. But despite this, the contribution of private schools in India’s transformation in the education sector was ignored and the teachers at private schools were not given due recognition for the crucial role they are playing in providing quality education with utmost dedication and hard work. So, the purpose of FAP awards is to give due recognition to private schools and their teachers in society with these awards. This initiative not only recognizes the efforts of private schools who have reached the pinnacles but also encourages other schools to compete for achievements in the fields of academics, sports, cultural heritage, infrastructure and facilities.” “We are honoured that FAP has become the only educational federation in the world to award 11001 management members, principals, teaching and non-teaching staff and students from across India with FAP National Awards between 2021 to 2025 for achievements in academic, sports and cultural domains at no financial cots to any recipient. The award for this record was presented to us today by Dr Aravind Lakshminarayanan, CEO of Nobel World Records Private Limited, during inauguration of the 5th edition of the FAP National Awards 2025 which is matter of great joy and satisfaction for us,” he added. About Chandigarh University Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC. Website address: www.cuchd.in (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI

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