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    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
    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
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    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 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
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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
    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
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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
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Crompton Expands Its Premium Kitchen Portfolio with Viona Hobs and Eliteo BLDC Chimneys

      December 3, 2025

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      Backed By Consumer Insights, the New Solutions Bring Style, Safety, and Smart Convenience to Evolving Indian Households Mumbai, Maharashtra, India (NewsVoir) Kitchens today are evolving beyond function – they’re becoming spaces of comfort, style, and daily connection. Yet, even in modern homes, everyday cooking often brings challenges that disrupt that experience. Recognising this, Crompton Greaves Consumer Electricals Ltd., a brand trusted for innovation and quality, has introduced two new premium solutions under its theme ‘Smart Inside, Stunning Outside’ – the Viona Hobs Series and the Eliteo BLDC Chimney Series. Together, they combine elegant aesthetics with thoughtful design, helping consumers create their dream kitchens. Providing peace of mind to consumers, these launches reflect Crompton’s commitment to addressing the evolving needs of Indian households.

      In most Indian kitchens, the challenges extend beyond just cooking. Spilled milk or water often seeps beneath burners, leading to hygiene concerns and damage, while hob installations can create slab-cutting worries. Many households also find cleaning tedious or postpone upgrades due to layout constraints. At the same time, families want faster cooking with less gas consumption, and seek stylish yet safe appliances that complement their lifestyle. Similarly, heavy smoke during frying or roti toasting, oil accumulation that clogs chimneys, and the need to remember manual auto-clean cycles remain everyday frustrations. Consumers also increasingly desire chimneys with powerful suction, quieter operations, and advanced BLDC motor technology at an affordable price. Designed with these needs in mind, the Viona Series Hobs and Eliteo BLDC Chimneys offer intuitive solutions that simplify cooking, ensure safety, and elevates the modern kitchen experience.

      This innovation reflects Crompton’s focus on creating appliances that are both high-performing and deeply intuitive. Some of the standout features of the Viona Hobs Series include: • Sealed Burners System: One of the most common kitchen issues is liquid seepage into burners, especially during milk or water spills. Viona’s sealed burner design prevents this, ensuring hygiene, avoiding internal damage, and reducing cleaning time — delivering convenience and peace of mind every day.

      • Direct Flame Burners: Specially designed for Indian cooking styles, the vertical flame ensures faster, more even heat distribution. This not only saves time but also improves energy efficiency, making it ideal for heavy-duty meal preparation.

      • Flame Failure Device: If a flame goes out accidentally, this built-in safety feature automatically cuts off the gas supply — reducing leakage risks and ensuring a safer cooking environment.

      • Hybrid Hobtop Design: For homeowners who want a sleek hob without modifying their kitchen slab, Viona’s dual-use format offers flexibility. It functions as both a built-in hob and a countertop appliance, making it ideal for rented homes, remodels, or upgrades without civil work.

      Equally, the Eliteo BLDC Chimney Series has been crafted to directly address common frustrations faced in Indian kitchens: • Rapid 1900 m³/hr Suction: Smoke-filled kitchens can make cooking stressful. With its powerful suction capacity, Eliteo clears smoke, fumes, and odours in seconds — creating a fresh, breathable atmosphere and making every cooking experience more comfortable.

      • Intelligent AutoClean: Remembering to clean chimneys is often inconvenient. Crompton’s patented AutoClean technology solves this by automatically cleaning the chimney after every 30 hours of usage. This not only saves time and effort but also maintains consistent performance with zero manual intervention.

      • Smart On: Cooking often begins in a hurry, and switching on appliances can feel like an extra step. With its inbuilt thermal sensor, the chimney powers on automatically when it detects cooking activity. This seamless, hands-free feature ensures the kitchen stays fresh without a second thought.

      Speaking about the launch, Aarushi Agarwal, Head – Large Kitchen Appliances and New Businesses, Crompton Greaves Consumer Electricals Ltd., said, “At Crompton, innovation isn’t just about adding new features — it’s about solving real, everyday challenges through deep consumer understanding to make it meaningful and relevant. Over the decades, this approach has helped us drive leadership across categories like Fans and Pumps. The Eliteo BLDC Chimneys and Viona Premium Hobs reflect that same Crompton promise of ‘Consumer First’. We are true to our promise of ‘Smart Inside and Stunning Outside’ with high performance sealed burners that take the hassle out of cleaning to hybrid sleek designs for versatile usage, intelligent chimney cleaning that cleans the chimney on its own so you can focus on the joy of cooking, without the stress of cleaning. It’s our endeavour to make the modern kitchen more intuitive, designed around you, and a source of pride with its modern aesthetics. With these launches, we aim to redefine what Indian families can expect from premium cooking appliances: elegant, efficient, and thoughtfully designed.” To support the launch, Crompton has rolled out a high-impact, multi-platform campaign across digital channels such as Meta and YouTube, complemented by engaging social media content and strong in-store visibility. The campaign highlights Crompton’s commitment to meaningful innovation that is rooted in real consumer needs.

      The Crompton Viona Hobs Series and Eliteo BLDC Chimneys are now available across authorised retail outlets nationwide. With their modern design, durable build, and performance-driven features, they provide a reliable, enjoyable cooking solution that seamlessly fits into today’s aspirational Indian kitchens.

      The dual launch of the Viona Hobs Series and Eliteo BLDC Chimneys marks a focused expansion of Crompton’s premium kitchen appliance portfolio — offering a blend of modern aesthetics, practical innovation, and everyday ease. Designed for both homemakers and working professionals, they reflect the growing demand for smart insight-driven upgrades that enhance the kitchen experience.

      About Crompton With a brand legacy of over 85 years, Crompton Greaves Consumer Electricals Ltd. is India’s market leader in the category of fans and residential pumps. Over the years, the organization has continuously strived to produce a range of innovative products that cater to the modern consumer including superior quality and high-performance fans, pumps, lighting solutions, and a range of other categories like water heaters; air coolers; small kitchen appliances like mixer grinders, air fryers, OTG, electric kettles etc; other home appliances like irons & built-in kitchen appliances. The company has further invested in brand and innovation to not only better understand and meet consumer needs but to also help drive energy efficiency. The consumer business also has a well-established and organized distribution network driven by a strong dealer base across the country offering a wide service network and robust after-sales service to its customers. Beyond its consumer portfolio, Crompton also has a robust B2B presence in the Lighting segment, delivering advanced and energy-efficient solutions for commercial and industrial applications. In 2025, Crompton became the first lighting company to receive the GreenPro certification for its B2B lighting solution, reaffirming its commitment to sustainability and innovation. Strengthening its foothold in the renewable energy space, the company has forayed into solar rooftops—representing a significant step forward in its contribution to India’s evolving clean energy landscape. With solar solutions spanning lighting, pumps, and rooftops, Crompton continues to lead as a responsible and future-ready brand in sustainable energy.

      The company's consistent dedication to developing energy-efficient products has led to significant recognition. It has been honored with three prestigious National Energy Consumer Awards (NECA) by BEE, Ministry of Power. The recent award was presented by the Hon’ble President of India, Smt. Droupadi Murmu for the company's storage water heater in 2023. In 2019, the brand won in two categories: Ceiling Fans and LED Bulbs. Additionally, it was recognized as one of India's Best Managed Companies 2022 by Deloitte Private and listed among ‘India’s Top 500 Companies 2022’ by Dun & Bradstreet India. The company has also been featured in Brand Top 75 most valuable Indian brands list for 2020 released by WPP and Kantar. Furthermore, Crompton was also recognized as the Brand of the Decade 2021 by Herald Global and BARC Asia in the Consumer Electrical category.

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

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