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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
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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
    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
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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.
    August 5, 2026
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    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
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    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
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    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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      Hiring surges 23% in 2025 as India prepares for a 1.28-crore job expansion in 2026: foundit insights tracker

      December 18, 2025

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      Bengaluru, 18 December 2025: India’s job market closed 2025 on a strong note, recording a +23% year-on-year increase in hiring activity, according to the foundit insights tracker (fit) by leading jobs and talent platform, foundit. This surge reflects robust employer confidence, steady recruitment across major industries, and the rising prominence of Tier-2 and Tier-3 cities as strategic talent hubs. However, growth in the second half of the year moderated to +4% over six months, indicating a shift toward more calibrated, productivity-led hiring. “2025 shaped up as a year of strong expansion but disciplined hiring. We witnessed the decentralisation of talent, with Tier-2 hubs becoming operational anchors for tech, BFSI, logistics and retail,” said Anupama Bhimrajka, VP, Marketing, foundit. “As we head into 2026, demand for AI-ready skills, strategic leadership, and mid-career digital talent will keep momentum high despite measured intake in some sectors.” HIRING TRENDS FOR 2025 NPOs, Consumer Electronics, and Healthcare & Pharmaceuticals Emerge as the Fastest-Growing Industries (YoY) With 24 out of 27 industries reporting a surge in recruitment activity over the past year, the data points to a broad-based revival in hiring sentiment. • Non-Profit Organisations (NPOs) emerged as the fastest-growing sector, with hiring up 55% YoY, reflecting rising demand for impact-led roles • Consumer Electronics (+53%) and Healthcare & Pharmaceuticals (+45%) saw strong momentum, driven by manufacturing expansion and healthcare demand • Core sectors such as Manufacturing (+39%), Logistics & Transportation (+37%), and Construction & Engineering (+34%) recorded steady growth, signalling infrastructure and supply-chain strength • Services-led sectors including Media & Entertainment (+36%), Retail (+34%), and BFSI (+27%) continued to expand alongside consumer demand and digital adoption Beyond the headline growth sectors, this momentum underscores how India’s job market is being powered by a mix of impact-led roles, manufacturing expansion and digital-first business models reflecting a labour market that is not just recovering but evolving at speed. Senior Management and IT Lead India’s Functional Hiring Growth With 11 of 13 functions reporting sustained annual growth, 2025 marks a clear revival in demand for specialised and leadership talent. Senior Management and IT roles are seeing the strongest momentum, driven by digital transformation, strategic expansion and the rise of AI-enabled business models. • Senior Management roles saw the strongest growth at +39% YoY, highlighting demand for strategic and transformation leadership • IT hiring rose 30% YoY, supported by digital modernisation and AI-led initiatives • Corporate support functions recorded healthy growth, led by HR & Admin (+33%) and Finance & Accounting (+25%) • Sales & Business Development (+23%) remained resilient as companies focused on revenue and market expansion • Creative and specialist roles, including Marketing & Communications (+14%) and Legal (+12%), saw steady but selective hiring The surge in mid-to-senior level hiring across HR, Finance and Sales indicates that companies are prioritising experienced professionals who can steer execution, strengthen governance and accelerate technology adoption in a rapidly evolving market. Tier-2 Cities Lead India’s Next Wave of Job Market Growth India’s job market in 2025 shows strong geographic momentum, with Tier-2 cities like Coimbatore and Ahmedabad emerging as high-growth talent hubs. • Tier-2 cities emerged as high-growth talent hubs, led by Coimbatore (+24%) and Ahmedabad (+19%), reflecting decentralised hiring strategies • Bengaluru (+23%) and Hyderabad (+21%) continued to anchor national hiring, driven by tech, manufacturing, and BFSI demand • Mumbai (+22%) and Pune (+19%) reinforced their strength in finance, consumer-facing, and enterprise roles Overall, 2025 saw hiring momentum spread beyond traditional metros, signalling a more distributed and cost-optimised talent model. The varied growth patterns across cities reflect a more distributed hiring landscape, with companies widening their talent search beyond traditional metros to support scale and regional market penetration. Experience Levels: Mid-Senior Talent Gains Ground • Mid-to-senior professionals (7–10 years) saw the strongest growth at +29% YoY, underscoring demand for execution-ready talent • Early-career hiring (0–3 years) grew 19% YoY, reflecting continued entry-level intake • Hiring for 4–6 years experience roles rose 15% YoY, indicating steady mid-level demand • 15+ years roles saw marginal contraction (-1%), pointing to more selective, lean leadership structures OUTLOOK FOR 2026 • India’s hiring outlook for 2026 signals steady growth, with overall recruitment expected to rise by 2.3 percentage points, translating to an estimated 1.28 crore jobs, and hiring concentrated in the first half of the year. • Demand will be strongest for mid-to-senior talent in digital, AI, cloud, data and cybersecurity, driven by continued enterprise transformation. • Tech, BFSI, manufacturing, infrastructure and renewable energy are set to lead hiring, with emerging sectors like fintech, health tech and electric mobility creating niche opportunities. • Hiring is expected to expand beyond metros as companies develop talent hubs in Tier 2 cities to optimise costs and access wider talent pools. • Overall, 2026 is shaping up to be a skills-led year of hiring, as growth expands beyond metros and strengthens India’s position as a resilient and future-ready talent market. Trends in Focus for 2026 1. Tech and Semiconductor Push Demand will remain strongest in AI, cloud, data engineering, cybersecurity, and embedded systems, supported by continued GCC expansion and early-stage semiconductor design activity in Bengaluru, Hyderabad, and select Tier-2 hubs. 2. Leadership and Mid-Career Demand Hiring is expected to continue favouring mid-to-senior professionals who can lead digital programmes, manage transformation roadmaps, and drive cost-efficient scaling as companies shift from pilot projects to enterprise-wide execution. 3. Tier-2 Talent Diversification Firms will increasingly be expanding support, operations, and select tech functions into Tier-2 cities to optimise cost structures and tap into growing engineering and digital talent pools outside metros. 4. Startups Regain Momentum Renewed funding across SaaS, fintech, health tech, and AI-first ventures is set to drive selective hiring in product, engineering, growth, and revenue roles, even as startups remain disciplined on non-core functions. Top Hiring Industries in 2026 India’s hiring outlook for 2026 is led by Consumer Electronics and Media, with a 5-percentage-point (pp) increase, followed by Healthcare, Life Sciences and Pharma at +4 pp. IT and Construction sectors are close behind at +3 pp. The core sectors and services are expected to see steady expansion, while trade-linked industries are likely to experience comparatively slower growth. Top Hiring Locations in 2026 In 2026, Bengaluru and Hyderabad are set to lead hiring with 3 percentage points growth, driven by tech, GCCs, AI, cloud, and semiconductor operations. Mumbai, Chennai, Pune, Kochi, and Tier-2 cities such as Coimbatore, Jaipur, and Baroda are expected to record a steady 2 percentage points growth, while Delhi-NCR remains flat. Overall, the trend reflects India’s shift toward a distributed, multi-city talent model. About foundit: foundit, formerly Monster (APAC & ME) is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. In addition to a powerful AI-powered job search, foundit offers e-learning, assessments, and services related to resume creation, interview preparation, and professional networking. Since its inception, the company has assisted over 120 million job seekers across 18 countries in upskilling and connecting them with the right job opportunities. Over the last two decades, the company has been a leader in the world of recruitment solutions and has recently launched a cutting-edge solution to give recruiters access to passive candidates in addition to active ones. With the use of advanced technology, foundit is seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalised job searches and offer precision hiring. Additionally, foundit has been recognised as a Great Place To Work, reflecting its dedication to fostering a supportive and dynamic work culture. To learn more about foundit in APAC & Gulf, visit: www.foundit.in | www.founditgulf.com | www.foundit.sg | www.foundit.my | www.foundit.com.ph | www.foundit.com.hk| www.foundit.id (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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