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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
    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
    Show AI Summary
    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
    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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      HIGHLIGHTS

      December 8, 2025

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      New Delhi, Dec 8 (PTI) Following are the top stories at 9.20 pm: NATION PAR70 PAR-LDALL VANDE MATARAM (9.12 PM)

      Vande Mataram debate in LS: Nehru "betrayed" national song: PM Modi; Bengal polls a factor, says Priyanka New Delhi: Prime Minister Narendra Modi on Monday tore into the Congress alleging that the country’s first prime minister Jawaharlal Nehru “betrayed” Vande Mataram by bowing to Muhammad Ali Jinnah’s opposition to the national song that led to it being fragmented and pandering to his “communal concerns” putting India on the path of appeasement politics.

      DEL54 LS-VANDE LD PRIYANKA (7.33 PM)

      BJP committing 'big sin' by creating controversy on Vande Mataram, eyeing WB polls: Priyanka Gandhi New Delhi: In a measured but scathing attack, Congress MP Priyanka Gandhi Vadra on Monday accused the BJP of committing a "big sin" by creating a controversy over Vande Mataram and claimed that the government pushed for a debate on the national song as the West Bengal assembly polls were approaching.

      DEL69 AVI-LDALL INDIGO (8.30 PM)

      Govt to take strict action against IndiGo to 'set example'; airline adds flights after disruptions New Delhi/Mumbai: The government plans to take strict action against IndiGo to "set an example" for airlines that violate regulations, the Civil Aviation Minister said on Monday, as the country's largest carrier added more flights as its operations limp back to normalcy following a week of widespread flight cancellations.

      DEL32 AVI-INDIGO-METRO AIRPORTS (5.07 PM)

      IndiGo cancels 562 flights from 6 metro airports; 150 at Bengaluru alone Mumbai: Rahul Bhatia-controlled domestic carrier IndiGo on Monday cancelled 562 flights from six metro airports, with 150 cancellations originating from Bengaluru airport alone, according to sources.

      BOM31 GA-NIGHTCLUB-FIRE-OWNERS-POLICE (8.52 PM)

      Goanightclub fire: Owners Saurabh and Gaurav Luthra fled to Phuket after tragedy, say police Panaji, Dec 8 (PTI) Saurabh Luthra and Gaurav Luthra, the main accused and owners of the Goa nightclub where a massive blaze claimed 25 lives, fled to Phuket hours after the tragedy, Goa Police said on Monday.

      PAR58 RS-PAN MASALA-CESS-DEBATE (7.24 PM)

      'Against federalism': Opposition against Bill to levy cess on pan masala units New Delhi: Opposition members on Monday opposed the Health Security se National Security Cess Bill in the Rajya Sabha, saying it is against the spirit of cooperative federalism and will deprive state governments of funds to maintain health infrastructure.

      DEL55 INDIA-CHINA-LD AIRTRAVEL (7.34 PM)

      Exercise discretion while travelling through China: India to its nationals New Delhi: India on Monday advised its nationals to be careful while travelling to or transiting through China, more than two weeks after a woman from Arunachal Pradesh was allegedly harassed at the Shanghai airport.

      MDS17 KL-2NDLD DILEEP (7.26 PM)

      Kerala court acquits actor Dileep, convicts six in 2017 actress sexual assault case Kochi: A Kerala court on Monday acquitted Malayalam cinema star Dileep in the sensational 2017 actress sexual assault case, in which six people, including the main accused charged with committing the crime, were pronounced guilty.

      DEL60 DEF-NAVY-OP SAGAR BANDHU (7.56 PM)

      Operation Sagar Bandhu: Navy deploys INS Gharial, three LCUs to render aid to Sri Lanka New Delhi: The Indian Navy has deployed INS Gharial and three other vessels as part of the ongoing Operation Sagar Bandhu for offering humanitarian assistance and relief to the cyclone-affected regions of Sri Lanka, officials said on Monday.

      LEGAL LGD29 LD INDIGO-FLIGHTS-PLEAS (7.31 PM) IndiGo crisis 'serious matter', says SC, Delhi HC agrees to hear plea on Dec 10 New Delhi: Woes of flyers hit by mass flight cancellations by IndiGo found a compassionate ear in the Delhi High Court, which agreed to hear one of the pleas on December 10, while the Supreme Court termed the consequent chaos a "serious matter", but stopped short of intervening.

      .

      LGD21 SC-BAR COUNCILS-WOMEN (6.17 PM)

      SC orders 30 pc seats for women advocates in state Bar councils New Delhi: The Supreme Court on Monday directed that 30 per cent seats in state Bar councils, where the election process has not been set in motion, be kept for women advocates.

      LGD20 SC-LD SIDDARAMAIAH (5.29 PM)

      SC notice to Karnataka CM on plea challenging his election from Varuna seat in 2023 New Delhi: The Supreme Court on Monday sought a response from Karnataka Chief Minister Siddaramaiah on a plea challenging his election from the Varuna assembly constituency in the 2023 state elections.

      LGD19 SC-ASSAM PROF-ONLINE POSTS (5.10 PM)

      SC grants bail to Assam prof in anti-India post case, bars reinstatement citing molestation charges New Delhi: The Supreme Court on Monday granted bail to a former professor at an Assam college, arrested for making an anti-India post on social media but advised that the relief granted to him should not lead to his reinstatement.

      BUSINESS DEL44 BIZ-INDIA-US-TRADE PACT (6.12 PM)

      US, India to hold trade talks on Dec 10-11 New Delhi: A delegation led by Deputy US Trade Representative (USTR) Rick Switzer will meet his Indian counterpart Rajesh Agarwal on the proposed bilateral trade agreement here this week, official sources said.

      DEL33 BIZ-INDIGO-MOODYS (5.17 PM)

      Flight cancellations credit negative, to hit IndiGo financially, says Moody's New Delhi: The widespread disruptions in IndiGo flights, resulting from the airline's failure to plan for aviation regulations communicated to industry more than a year in advance, could result in financial damage from loss of revenue as well as potential penalties for cancellations, Moody's Ratings said on Monday.

      DEL51 BIZ-INTEL-TATA (7.26 PM)

      Intel signs pact with Tata to make, assemble semiconductors in India New Delhi: US-based chip maker Intel has signed an agreement with Tata Group to manufacture and assemble semiconductors in India for the local market, the Indian conglomerate said on Monday.

      FOREIGN FGN19 RUSSIA-INDIA-OIL (5.51 PM)

      India free to buy oil from sources it considers beneficial: Kremlin Moscow: India, a sovereign nation, is free to buy oil from sources it considers beneficial, the Kremlin said on Monday, while expressing confidence that New Delhi will stick to the policy of ensuring its economic interests. By Vinay Shukla

      FES42 RUSSIA-WINE BEVERAGE (8.27 PM)

      Russia's Abrau-Durso Group plans to produce wine beberages in India Moscow: Abrau-Durso Group, a leading sparkling wine producer in Russia, intends to collaborate with India's IndoBevs and initially localise production of its wine beverages in India. By Vinay Shukla

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