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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
    Show AI Summary
    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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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
    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
    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
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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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      Merck Foundation CEO Discussed With Burundi First Lady the Impact of Their Joint Programs and Develop the 2026 Strategy

      December 30, 2025

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      Mumbai, Maharashtra, India & Gitega, Burundi– Business Wire India Merck Foundation, the philanthropic arm of Merck KGaA Germany, recently conducted the 12th Edition of their annual conference, “Merck Foundation Africa Asia Luminary”, in partnership with the Government of The Gambia in Banjul, The Gambia. The conference was co-chaired by H.E. Mrs. FATOUMATTA BAH-BARROW, First Lady of The Gambia and Ambassador of Merck Foundation More Than a Mother and Dr. Rasha Kelej, CEO of Merck Foundation and President of More Than a Mother. H.E. Madam ANGELINE NDAYISHIMIYE, First Lady of the Republic of Burundi, and Ambassador of Merck Foundation “More Than a Mother” along with The First Ladies of Central Africa, Liberia, Nigeria, São Tomé & Príncipe and Senegal joined as the Guests of Honor and Keynote speakers. Senator Dr. Rasha Kelej (Ret.) shared, “It was such a pleasure meeting my dear sister, H.E. Madam ANGELINE NDAYISHIMIYE, First Lady of Burundi & Ambassador of Merck Foundation “More Than a Mother” during the 12th Edition of our Luminary in The Gambia. Our partnership journey began in 2020, and since then, we have achieved a lot. I am happy to share that we have provided till today 55 scholarships for local Burundian doctors, in specialties such as Oncology, Embryology, Fertility, Diabetes, Sexual and Reproductive Care, Acute Medicine, Respiratory Medicine, Endocrinology, and Preventative Cardiovascular Medicine and more. We are looking forward to enrolling more doctors in many more specialties and together, we will continue to advance the healthcare capacity in the country. We have also launched together many initiatives to address a wide range of social and health issues in Burundi and beyond”. H.E. Madam ANGELINE NDAYISHIMIYE, First Lady of Burundi & Ambassador of Merck Foundation “More Than a Mother” emphasized, “I congratulate Merck Foundation for completing 13 years of their valuable development programs. Since our partnership that started in 2020, great outcomes have transpired. I am pleased to share that Merck Foundation has in total provided 55 scholarships to our local doctors, and one of the graduates of the Diabetes Master course has established the First Diabetes center in Burundi. Moreover, we have also launched the first public IVF center, where the fertility specialists, embryologists, and technicians have been trained through Merck Foundation scholarships. We are also working together to support girl education by providing annual scholarships to 40 best-performing but underprivileged girls, as a part of Educating Linda program. This is extremely important as Education is the way forward to empower our girls.” Watch the Speech of The First Lady of Burundi & Ambassador of Merck Foundation More Than a Mother during the Merck Foundation Africa Asia Luminary 2025 here: https://www.youtube.com/watch?v=nGOU6OVQF4o Watch the video of Merck Foundation Senator Dr. Rasha Kelej (Ret.), CEO of Merck Foundation receiving Burundi First Lady, H.E. Madam ANGELINE NDAYISHIMIYE: https://youtu.be/fjlCx_AWcRc On Day 1 of the conference, the Plenary Session of the Merck Foundation Africa Asia Luminary 2025 took place, featuring keynote speeches of First Ladies of Africa. Moreover, a high-level ministerial panel discussion was also held with African Ministers. On Day 2 of the conference, Merck Foundation First Ladies Initiative-FFLI committee meeting was conducted between The First Ladies of Africa and Merck Foundation Chairman and CEO, where the African First Ladies shared the impact report of Merck Foundation programs in their respective countries, and future strategy was discussed. Watch the video of MFFLI committee meeting: https://youtu.be/sc2XFyU3s10 Together with Burundi First Lady, Merck Foundation has provided 55 scholarships for local doctors in Burundi in many critical and underserved specialties. Out of 55 scholarships, • 16 scholarships have been provided for doctors in Fertility and Embryology, and PG Diploma and two-year Master degree in Sexual and Reproductive Medicine. This has contributed and will continue to contribute towards promoting the well-being of infertile women, breaking the infertility stigma and empowering these women through access to information, education and change of mindset. With the inauguration of First Public IVF Center in Burundi, infertile couples are getting treatment and medical advice in their home country for the first time. • 4 scholarships have been provided for Oncology Fellowship program and PG Diploma and Master degree in Acute Medicine and Respiratory Medicine. • Moreover, 35 scholarships have been provided for Diabetes Master course and PG Diploma in Diabetes, Endocrinology, and Preventive Cardiovascular Medicine with an aim to build Diabetes Care Capacity in Burundi. For the Diabetes Master course in French and English, one young doctor from each province in Burundi has been enrolled. After completion, these Doctors can establish diabetes clinics in their respective Health centers or Hospitals to help prevent and manage the disease in their respective communities. This has provided Burundi with its very first diabetes center in the country and was established by one of the graduates of Merck Foundation Master course. Alumni of Merck Foundation have also recently launched Burundi's first Diabetology Society. “Merck Foundation has always believed in the importance of building healthcare capacity and has been working for it since 2012. We have so far provided 2500 scholarships for healthcare providers from 52 countries in 44 underserved medical specialties. We will continue to provide scholarships for doctors from Burundi and beyond,” added Senator, Dr. Rasha Kelej. Merck Foundation together with The First Lady of Burundi launched nine children’s storybooks; “More Than a Mother”, ‘Educating FIFI”, “Make the Right Choice”, “Jackline’s Rescue”, “Not Who You Are”, “Ray of Hope”, “Ride into the Future” and “Sugar free Jude” and “Mark’s Pressure”, to raise awareness about various social issues like breaking infertility stigma, supporting girl education, ending child marriage, ending GBV and also health issues like diabetes, hypertension and cancer. Thousands of copies of these storybooks have been distributed to school students of Burundi. Merck Foundation in partnership with The First Lady of Burundi has also conducted 4 editions of their Health Media Training to empower the journalists to be the voice of the voiceless and also announced the Call for applications for their 8 important awards for Media representatives, Musicians, Fashion Designers, Filmmakers, students, and new potential talents in these fields. The 12th Edition of Merck Foundation Africa Asia Luminary was streamed live on the social media handles of Merck Foundation and Senator, Dr. Rasha Kelej, CEO of Merck Foundation. @Merck Foundation: Facebook, X, Instagram, and YouTube. @Rasha Kelej: Facebook, X, Instagram, and YouTube. Link to the Facebook live stream of Inaugural Session of Merck Foundation First Ladies High Level Panel: https://www.youtube.com/live/h2_pOgZW9OY?si=u9sRUYz8H5tRC9ca Summarizing Merck Foundation’s initiatives and impact: Merck Foundation is transforming the Patient care landscape and making history together with their partners in Africa, Asia, and beyond, through: • 2500+ Scholarships provided by Merck Foundation for healthcare providers from 52 Countries in 44 critical and underserved medical specialties. Merck Foundation is also creating a culture shift and breaking the silence about a wide range of social and health issues in Africa and underserved communities through: • 3700+ Media Representatives from more than 35 countries trained by Merck Foundation to better raise awareness about different social and health issues. • 8 Different Awards launched annually for best Media coverage, Song, Films, and Fashion. • Around 30 songs to address health and social issues, by local singers across Africa in English, French, Portuguese, and local languages. • 9 Children’s Storybooks in four languages - English, French, Portuguese, and Swahili. • 6 Awareness Animation Films in five languages - English, French, Portuguese, Spanish and Swahili to raise awareness about breaking infertility stigma, supporting girl education and prevention and early detection of Diabetes, Hypertension & Cancer. • Pan African TV Program "Our Africa by Merck Foundation” addressing Social and Health Issues in Africa through “Fashion and ART with Purpose” Community. • 1200+ Scholarships provided annually to high performing but under-privileged African schoolgirls from 18 countries, to help them to complete their studies and empower them to reach their full potential. • 15 Social Media Channels with more than 8.5 Million Followers. Click the link below to Download Merck Foundation App https://www.merck-foundation.com/MF_StoreRedirection Join the conversation on our social media platforms below and let your voice be heard Facebook: Merck Foundation X: @MerckFoundation YouTube: MerckFoundation Instagram: Merck Foundation Threads: Merck Foundation Flickr: Merck Foundation Website: www.merckfoundation.com About Merck Foundation The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality & equitable healthcare solutions in underserved communities, building healthcare & scientific research capacity, empowering girls in education and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website. Please visit www.merck-foundation.com to read more. Follow the social media of Merck Foundation: Facebook, X, Instagram, YouTube, Threads and Flickr. The Merck Foundation is dedicated to improving social and health outcomes for communities in need. While it collaborates with various partners, including governments to achieve its humanitarian goals, the foundation remains strictly neutral in political matters. It does not engage in or support any political activities, elections, or regimes, focusing solely on its mission to elevate humanity and enhance well-being while maintaining a strict non-political stance in all of its endeavors. To View the Image, Click on the Link Below: Senator Dr. Rasha Kelej (Ret.), CEO of Merck Foundation and H.E. Madam ANGELINE NDAYISHIMIYE, First Lady of Burundi & Ambassador of Merck Foundation “More Than a Mother” Campaign during the 12th Edition of “Merck Foundation Africa Asia Luminary” in The Gambia.

      (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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