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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
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.
    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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      ACKO Drive Redefines Automotive Excellence at the 4th Annual TOTMs, India's Most Credible and Coveted Automotive Honours

      December 23, 2025

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      Chennai, Tamil Nadu, India – Business Wire India The only Indian auto awards backed by Grant Thornton Bharat as Knowledge Partner; Ranked 8th in Asia & Africa for reach and impact¹ - The Hyundai Venue won 2026 ACKO Drive Car of the Year, while the TVS Ntorq 150 won Bike of the Year. The Premium Car of the Year was the BMW iX1, and the Ducati Panigale V4 was the Premium Bike of the Year. - Mr. Tarun Garg, MD & CEO Designate, Hyundai Motor India, has been honoured as the 2026 ACKO Drive Person of the Year. ACKO Drive concluded the fourth edition of the ACKO Drive awards, popularly known as the TOTMs - The One That Matters in Chennai on December 19–20, reaffirming the platform’s position as India’s most respected and coveted automotive honours. Held in one of the country’s most significant automotive manufacturing hubs, the two-day event celebrated excellence across cars, bikes, and the brands that build them. In just four years, the TOTMs have earned the trust of OEMs, automotive enthusiasts and consumers through an uncompromising focus on credibility and independence. TOTMs are the only automotive honour in India with Grant Thornton Bharat as the Knowledge Partner, ensuring a research-led, transparent, and unbiased evaluation framework. Grant Thornton structures the jury scoring and aggregation process with audit-like rigour, making the TOTMs the most methodologically robust auto awards in the country. The TOTMs are now ranked 8th in Asia & Africa for reach and impact among automotive awards, placing India firmly on the global automotive map1. At the 2026 edition, Hyundai Venue was named ACKO Drive Car of the Year, while TVS Ntorq 150 ​​won Bike of the Year. BMW iX1 secured the 2026 Premium Car of the Year title, and Ducati Panigale V4 won Premium Bike of the Year. The Viewers’ Choice Awards, based on thousands of consumer votes, went to Mahindra BE 6 (Car) and Royal Enfield Hunter 350 (Bike). Mr. Tarun Garg, MD & CEO Designate, Hyundai Motor India, was named 2026 ACKO Drive Person of the Year. Honouring their contributions to Indian auto manufacturing, Ashok Leyland, BMW Group India, Hyundai Motor India, Rane Group, Royal Enfield and TVS Motor Company were inducted into the TOTM Hall of Fame as Manufacturing Pioneers. Dr. V Sumantran was inducted into the TOTM Hall of Fame: Leader, Engineer, Pioneer. These companies and individuals were recognised for their role in shaping the Indian automotive ecosystem, particularly from Chennai. Judged by the Best, Tested at the Highest Level True to their promise of integrity, the TOTMs are judged by a jury of globally respected automotive experts, journalists, and industry leaders. Each year, nominated cars and bikes undergo two days of intensive, hands-on evaluation at the Buddh International Circuit, Greater Noida, ensuring real-world testing under controlled, comparable conditions. Beyond awards, this year’s edition also featured a compelling fireside chat with Dr. V. Sumantran, noted auto industry veteran, and Shailesh Chandra, MD & CEO, Tata Motors Passenger Vehicles, on the future of vehicle safety and what India must do to raise the bar. Siddharth Vinayak Patankar, Editor-in-Chief, ACKO Drive; Chief Creative Officer, ACKO; and Chair, World Car Awards, said: “It is heartening to know how coveted the TOTMs already are in their 4th edition. In a year that saw huge pressures and challenges, the industry fought hard to give us plenty to celebrate. What we have are truly deserving winners, be it the cars or bikes, the brands and manufacturers, as well as some key people from the fraternity. I am also proud we were able to pay tribute to Chennai's manufacturing heritage - that has given India, its consumers, and its economy so much over the years.” The 2026 Honour Roll 2026 ACKO Drive Car of the Year - Hyundai Venue 2026 ACKO Drive Bike of the Year - TVS Ntorq 150 ⁠2026 ACKO Drive Premium Car of the Year - BMW iX1 2026 ACKO Drive Premium Bike of the Year - Ducati Panigale V4 2026 ACKO Drive Person Of The Year - Mr. Tarun Garg, MD & CEO Designate, Hyundai Motor India 2026 ACKO Drive Safety Champion - Maruti Suzuki India 2026 ACKO Drive Viewers’ Choice Car - Mahindra BE 6 2026 ACKO Drive Viewers' Choice Bike - Royal Enfield Hunter 350 2026 ACKO Drive Bike Manufacturer of the Year - TVS Motor Company 2026 ACKO Drive Car Manufacturer of the Year - Maruti Suzuki India Jury members Dr. V Sumantran - Industry Veteran Siddharth Vinayak Patankar - Editor-in-Chief, ACKO Drive and Chair, World Car Awards Gul Panag - Actor & EV Evangelist Rayomand Banajee - Racer & Mentor Hani Musthafa - Chief Editor – Flywheel, World Car Awards Juror Jens Meiners - Founder and Chair, German Car of the Year Steve Fowler - Senior UK Journalist, World Car Awards Juror Yogi Chabbria - Racer & Bike Restorer Priyadarshan Bawikar - Ex-Two Wheels Editor, ZigWheels/BikeDekho Ameya Naik - Associate Editor - ACKO Drive Arun Mohan Nadar - Principal Correspondent, Two Wheelers - ACKO Drive [1] According to the Global Automotive Awards overview report published annually by AITASTIC - a German-American research and consulting firm. About ACKO Technology and Services Pvt Ltd. ACKO Technology and Services Private Limited ("ACKO") is the parent company of ACKO General Insurance. ACKO, founded in 2016, is a digital-first direct-to-consumer company that builds and operates technology and services platforms. Driven by a relentless focus on superlative customer experience and with its transformative technology, ACKO helps create superior customer value propositions and more engaging experiences. For more information, visit www.acko.com or follow us on LinkedIn, Instagram, YouTube, and Twitter. (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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