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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
    Show AI Summary
    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
    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
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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
    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
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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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      Education Pioneer Sunny Varkey Calls on Content Creators to Submit Entries for '1 Billion Acts of Kindness' Campaign, in Partnership with MrBeast

      December 12, 2025

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      London, United Kingdom (NewsVoir) • Content creators worldwide are encouraged to submit their acts-of-kindness videos before 15 December 2025 to join the global 1 Billion Acts of Kindness campaign, organised in partnership with Mohammed bin Rashid Al Maktoum Global Initiatives and MrBeast • The top 10 creators will be announced at the 1 Billion Followers Summit, the world’s largest gathering of digital creators, taking place in Dubai from 9-11 January 2026 • They will then travel to Ghana with MrBeast to help build an entire village, transforming lives for generations to come – with the journey shared on MrBeast’s YouTube channel Education pioneer Sunny Varkey, Founder of GEMS Education and the Varkey Foundation, has today called on content creators to submit their entries for the ‘1 Billion Acts of Kindness’ campaign, ahead of the 15 December deadline. The groundbreaking movement, launched in partnership with Mohammed bin Rashid Al Maktoum Global Initiatives, philanthropist and creator MrBeast, and the 1 Billion Followers Summit, aims to inspire one billion acts of kindness worldwide and amplify social impact through education, empowerment, and community development. The campaign encourages content creators across the globe to mobilise their audiences and spotlight real stories of compassion – such as volunteering at a local shelter, visiting a care home, donating blood, or raising awareness for a local charity. Creators can participate by posting videos of their acts of kindness and social impact work on their platforms, using the hashtags #1BillionSummit #1BKindness and tagging @1billionsummit @varkeyfdn @mrbeast @mbrinitiatives. They must then submit their posts through the official campaign page before 15 December 2025. Submissions will be evaluated by the 1 Billion Followers Summit, MBRGI, the Varkey Foundation, and Beast Industries. At the fourth edition of the 1 Billion Followers Summit in Dubai – taking place 9-11 January 2026 – MrBeast will announce the top 10 content creators chosen to join him on the ground in Ghana. There, they will help build a village – which will include schools, clean water, and access to life-saving healthcare – to transform the lives of future generations to come. Their journey will be shared on MrBeast’s YouTube channel – which counts over 450 million subscribers – to inspire others around the world to take action in their communities and beyond. The 1 Billion Followers Summit is the world’s largest gathering of digital creators. In 2025, it welcomed creators representing over 2.3 billion followers, making it the ideal platform to mobilise a movement of this scale. Organised by the UAE Government Media Office, the summit explores how new media can drive positive societal change and fuel sustainable economic growth for nations. It is a key component of the Emirates’ drive to foster a vibrant content creator community. Sunny Varkey, Founder of the Varkey Foundation, said, “Education is the greatest gift we can give – it transforms lives, families, and entire communities. Through this campaign, we want to celebrate stories of kindness and compassion, and showcase the many imaginative ways education can open doors, create hope, and expand opportunity. That’s why I’m calling on content creators everywhere to step forward, share their acts of kindness, and use their platforms to help ignite a global movement for good. “By uplifting inspiring creators and their stories, we aim to remind the world that even small acts of compassion can spark extraordinary change. We’re proud to share our expertise and support the projects that will grow from this global movement for good.” At the heart of this initiative is the Varkey Foundation’s decades-long expertise in delivering quality education to underserved communities. Through global programmes such as the Global Teacher Prize, Global Student Prize, and Global Schools Prize, the Foundation has helped elevate the transformative power of education and amplify the voices of those driving change in classrooms and communities. This campaign builds on that legacy – championing compassion, community action, and the belief that every individual has the power to make a difference. Notes for editors About the Varkey Foundation The Varkey Foundation, founded by education pioneer and philanthropist Sunny Varkey, believes every child deserves a vibrant, stimulating learning environment that awakens and supports their full potential. The foundation believes nothing is more important to achieving this than the passion and quality of teachers. They support global teaching capacity and seed excellence and innovation in the next generation of educators. They founded the Global Teacher Prize to celebrate the incredible work of educators worldwide—now joined by the Global Student Prize and Global Schools Prize, completing a powerful trilogy honouring teachers, learners, and schools as forces of innovation and change. For further details: www.varkeyfoundation.org About GEMS Education GEMS Education is one of the world’s leading private K-12 education providers, educating more than 200,000 students from 176+ nationalities across its global network of owned and managed schools. With nearly half a million alumni, GEMS has built a legacy of impact that spans generations and continents.   Established in Dubai in 1959, GEMS remains a family-founded and family-led organisation, guided by its visionary founder and chairman Sunny Varkey, and his sons Dino Varkey (Group CEO) and Jay Varkey (Deputy Group CEO).   With a focus on delivering high-quality education to students from all walks of life, GEMS offers a wide range of curricula and learning pathways. Each year, GEMS students graduate into the world’s top universities, including all eight Ivy League institutions and every UK Russell Group university, and go on to become leaders, innovators, and changemakers in every sector.   Through its expanding school network and philanthropic initiatives, GEMS is committed to its mission: to put a quality education within reach of every learner, everywhere.   Learn more at www.gemseducation.com About Beast Industries Founded by YouTube creator, entrepreneur, and philanthropist Jimmy Donaldson (MrBeast), Beast Industries is a global entertainment powerhouse known for its groundbreaking content, viral challenges, and large-scale philanthropic initiatives. With over 450 million subscribers, MrBeast became the most-subscribed YouTube channel in the world in June 2024 and now generates more than 2 billion views each month. The Prime Video series Beast Games became the streamer’s most-watched unscripted series ever and broke 44 Guinness World Records, further cementing MrBeast’s impact beyond digital platforms. Season 2 of Beast Games is out on January 7, 2026. Donaldson was named the #1 creator on Forbes’ 2025 Top Creators List and has been featured on both the TIME 100 and the inaugural TIME 100 Climate list. In 2022, he launched Feastables, a snack brand that quickly became one of the fastest-growing CPG companies in history. A leader in digital-first philanthropy, Donaldson has spearheaded major global campaigns, including #TeamTrees, which raised over $23 million to plant 23 million trees, #TeamSeas, which removed 30 million pounds of waste from oceans, rivers, and beaches, and #TeamWater, which raised over $40 million to provide clean water to people around the world. In 2020, he founded Beast Philanthropy, a 501(c)(3). About the 1 Billion Followers Summit With a goal of reaching over a billion people worldwide, the 1 Billion Followers Summit, the world’s largest summit dedicated to the content creator economy, organised by the UAE Government Media Office, brings together top global social media influencers across all online platforms. The summit explores how new media can drive positive societal change and fuel sustainable economic growth for nations. It is a key component of the Emirates’ drive to foster a vibrant content creator community. Alongside business support services, and a globally connected, secure multinational environment, the UAE has committed resources and facilities specifically to fostering content creation, including a million-dollar content creator award being announced at the summit, which takes place from 9 to 11 January 2026. For more information, please visit www.1billionsummit.com (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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