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    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
    Collaboration, Inclusion and Entrepreneurship: How SIDBI MSME Samvaad Is Shaping the Future of India’s MSME Ecosystem
    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
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    August 5, 2026
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    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
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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.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.

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      Life in Australia: A Guide for International Students

      December 30, 2025

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      Moving to a new country is a journey filled with excitement and offers endless opportunities. For many international students, Australia becomes more than a study destination, — it becomes a second home. What follows is an insider's perspective on life in Australia for overseas students, drawn from personal experience. Culture, Etiquette and Everyday Norms Australia is a multicultural society grounded in the values of respect, fairness, and inclusiveness. Regardless of background, treating people with respect truly matters — simple gestures, such as saying “Thank You” to staff in shops or restaurants make a difference. Queuing etiquette is strong here: cutting in line or pushing forward is frowned upon. On public transport, allow passengers to exit before you board, keep conversations quiet, and avoid eating in some vehicles as directed. Australians are also generally open-minded about diversity in races, genders, sexual orientations, and backgrounds. While culture shock is a normal part of transitioning to a new environment, the inclusive ethos of many communities helps ease the adjustment and makes it easier for yourself to feel part of the local community. Academic Life & Student Experience Australian universities and educational institutions strive to create a vibrant academic environment. Classrooms encourage active participation, critical thinking and collaborative learning. Students are supported through resources such as English language support, workshops on academic writing and study skills, and peer mentoring. Outside the classroom, campus life is vibrant. — Clubs, societies, cultural festivals, and events allow students to engage broadly with peers from all over the world. The balance between structured learning and social experiences makes student life in Australia holistic and fulfilling. Working While Studying One of the key attractions of studying in Australia is that student visa rules often permit part-time work, subject to certain conditions. This allows students to earn extra income while gaining valuable work experience and becoming more engaged with Australian society. However, it’s essential to understand your visa’s work conditions. Here at the most important things to do before working in Australia; Register for a Tax File Number (TFN), open an Australian Bank Account (CommBank, NAB, Westpac, and ANZ are typical choices and have dedicated student accounts), and ensure your Australian bank account is linked appropriately to avoid unexpected taxation. Students can explore roles via job boards such as Indeed, SEEK and Workforce Australia, campus services, or referrals from peers and networks. Safety, Wellbeing and Support Services Australia is committed to maintaining a safe, inclusive environment for all residents, including international students. Universities and Colleges typically offer robust support systems ranging from counselling services, health and wellness programs, academic assistance and student advocacy. To protect personal safety, follow basic precautions: know the emergency number (000), avoid walking alone late at night, if possible, lock doors, and inform someone of your movements. In public settings, safeguard your belongings and exercise awareness of surroundings. Managing Finances & the cost of Living International students must demonstrate they have access to sufficient funds to support their studies and living costs. Australia’s migration regulations stipulate indicative amounts for living expenses: for example, you can estimate your costs here: Living and education costs | Study Australia (These figures serve as a guide and may change over time.) Although part-time work can help, students should not rely on employment alone to meet all expenses. Planning a budget for accommodation, transport, food, personal costs and course-related expenses is essential. Visa, Health Coverage & Documentation A successful student visa application hinges on proper documentation and compliance. Key requirements typically include: • A valid passport • Certificate of Enrolment (CoE) from the Institution • English language test results (IELTS, TOEFL, PTE, CAE or OET) • Evidence of sufficient funds • Overseas Student Health Coverage (OSHC)—mandatory for international students. • Medical Insurance (travel, private or other) • If coming from a country with a Reciprocal Health Care Agreement (RHCA), you are entitled to free emergency/urgent medical services (specifics apply, please visit Medicare | myGov) Medical examinations may also be required, depending on your home country and duration of stay. It’s important to make sure no document is expired, and all submitted evidence is up to date. Travel, Arrival & Packing Arriving in Australia Plan your arrival with transport in mind. Options such as taxis, shuttle buses, Skybus, trams or trains are available in major cities. Some airports offer public transport directly into city centres (for example, Sydney’s frequent train service). Pre-booking or arranging transport in advance can ease the transition. Packing and essentials While Australia offers broad access to goods, there are some items worth bringing: appropriate clothing (weather varies by season & state), adaptors suited to Australian plug systems, initial funds, and important paperwork (visa, enrolment letters, contacts). Be cautious of arriving in Australia carrying restricted items: food products, plants, animal materials and certain goods must be declared at customs. Importing large amounts of cash (over AUD 10,000) must be declared. Weapons and restricted items should be left behind or declared if unsure. Accommodation & Housing Options Choosing the right living arrangement is key to a comfortable student life. Common options include: • Homestays: Living with a host family. Meals, utilities and internet are typically included, and you benefit from cultural immersion. Drawbacks can include less independence and possible travel distance from campus. • Student housing / dormitories: Purpose-built, fully furnished residences close to campus, often including communal amenities and utilities. However, private meals are not usually provided, and rooms may be compact. • Shared accommodation: Friends or small groups sharing a house or apartment to split rent and bills. It encourages social connections but may bring lifestyle conflicts or limited privacy. • Private rentals: For greater independence, renting a private apartment or house is possible. This generally incurs higher costs and full responsibility for utilities and often requires understanding tenancy rules, bonds and leasing terms. It's important to familiarise yourself with tenancy rights, rental agreements, security deposits, and rules in your chosen state or territory. Transport and Mobility Australia’s major cities tend to offer excellent public transport infrastructure: • In Melbourne, trams, buses and trains operate via the Myki card system, there is also a “free tram zone” in the CBD (Central Business District) • In Sydney, transport is managed using the Opal card, which works on buses, trains, light rail and ferries. • Adelaide has the “MetroCard” system, like Melbourne and Sydney. Cycling is a cost-effective, green option. But cyclists must wear approved helmets, be mindful of the weather, and obey road safety rules. Australians drive on the left-hand side of the road, so be mindful of this. Driving can be convenient but expensive. International students should check whether their home country licence is valid in Australia, whether they need an International Driving Permit or local conversion, and always follow local road regulations and make sure you have relevant insurance Communication, SIM & Internet Obtaining an Australian SIM card typically requires proof of identity (passport, visa) and sometimes address or banking documentation. Many international students prefer prepaid plans for flexibility, while longer-term contract plans may offer better value if staying for a full year. Home internet is commonly provided via the National Broadband Network (NBN) in many areas. For places not yet NBN-enabled, wireless broadband (4G/5G) options exist but may be costlier or capped in usage. Always compare speeds, data limits, and pricing. Embracing Australian Life: Exploring & Discovery One of Australia’s greatest perks is its natural beauty and vibrant city life. Students can spend weekends exploring:: • Melbourne: Famous for its arts, street culture, local markets (such as Queen Victoria Market), laneways, cuisines and southern beachfronts. • Sydney: Home to the Sydney Opera House, the Harbour Bridge, coastal walks, iconic beaches like Bondi, and harborside attractions. • Adelaide: Home to the Adelaide Oval, Central Market and Zoo, offers a laid back, relaxed lifestyle. • Other regions offer diverse experiences, from tropical beaches to mountain ranges, national parks, wine regions and deserts. These experiences enrich your time as a student, creating lasting memories beyond academics. For more information visit: https://www.tourism.australia.com/en Final Thoughts Student life in Australia offers a vibrant, secure and enriching environment for international students. With the right preparation, i.e. by understanding visa and health cover requirements, budgeting for living costs, choosing accommodation wisely, and getting familiar with transport and everyday norms, students can thrive both academically and personally. Take in the experience, build meaningful connections, and give yourself space to grow, inside and outside the classroom. (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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