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    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
    Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
    Monthly review of accounts of Government of India upto June 2026 (FY 2026-27)
    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
    CCI approves proposed combination inter alia involving share acquisition(s) and merger of certain entities e.g. AAPC India, Triguna, Caddie, SMPL, Tec...
    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
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    August 6, 2026
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    Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
    The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
    August 6, 2026
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    Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
    The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
    August 6, 2026
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    Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
    Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
    August 6, 2026
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    Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
    Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
    August 6, 2026
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    Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
    Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
    August 5, 2026
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    Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
    The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
    August 5, 2026
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    Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
    Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
    August 5, 2026
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
    Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
    Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
    August 5, 2026
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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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
    Show AI Summary
    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
    Show AI Summary
    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
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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
    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
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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.

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      HZICC: Hangzhou and the World: 10 Paired Conversations

      December 31, 2025

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      HANGZHOU, China, Dec. 31, 2025 /PRNewswire/ -- History is woven from stories, and vivid individuals are the protagonists of these tales. Alongside the event "Hangzhou, a Window to China's 5000-Year Civilization", 10 Hangzhou Seekers from 10 different countries embarked on an in-depth exploration of Hangzhou. Organized by the Hangzhou International Communication Center, this event brought together scholars, media professionals, artists, and historians from Spain, Italy, Egypt, Brazil, the United States, Thailand, Turkey, Greece, Canada, and Germany to launch a dialogue of civilizations that transcends mountains and seas and bridges East and West.

      This time, we invited 10 Hangzhou representatives to join the 10 Hangzhou Seekers in initiating "Hangzhou and the World: 10 Paired Conversations". These 10 Hangzhou Seekers may have different perspectives on Hangzhou and attitudes towards the world. We believe that as long as one is full of curiosity and enthusiasm for the world, everyone is a true in-depth explorer of the world. Open and inclusive Hangzhou is providing such a cross-cultural platform for distinctive dialogues of civilizations.

      Remonda Fayez Michel, Curator of the Grand Egyptian Museum & Xu Tianjin, Director of Liangzhu Museum (Liangzhu Research Institute) and renowned archaeologist Theme: Innovative Museum Curation and Civilization Narration As the director of Liangzhu Museum, he once gained a following among young people for his engaging content. As an archaeologist, he has dedicated over 40 years to Shang and Zhou dynasty archaeology, participating in and leading numerous archaeological excavations and research projects of important sites. In Xu Tianjin's view, archaeologists should not only excavate cultural relics and explore history, but also interpret culture and guide public participation. These experiences have become the core focus of Remonda Fayez Michel, Curator of the Grand Egyptian Museum. Remonda and Director Xu had in-depth discussions on the strategies and practices of the two museums, jointly exploring new ways to promote ancient civilizations to the world.

      Francisca Molinero, Principal of a renowned international school in Spain & Ling Ran, Founding Consultant of Yungu School Theme: Opportunities and Challenges of Cross-Cultural Education Francisca's school brings together students from more than 45 countries, and she has rich experience in cross-cultural education; Ling Ran is an expert in exploring quality education in China. Through exchanges, they discussed how technologies such as AI can be better applied in teaching, how to define "the greatest value of education for children" and "educational goals", and explored many beneficial practices of Eastern and Western education.

      Kittiporn Tantrarungroj, Chairman of the Thailand Choral Association & Zhou Weiping, Artistic Director of the Hangzhou Philharmonic Angel Choir Theme: Nationality and Globality of Music Their paths first crossed at a Korean choral festival, and this time their fates intertwined again in Hangzhou. Having switched careers from a doctor to a conductor, Dr. Kittiporn Tantrarungroj skillfully integrates Thai cultural elements with choral music and actively brings it to the international stage. Combining the performance experience of the Hangzhou Philharmonic Angel Choir, Zhou Weiping also shared his exploration and practice in integrating local characteristics with an international perspective in choral music.

      David Ringo Miano, Well-known American historian and popular science blogger on history & Wang Chong, Director of the American Studies Center, Zhejiang International Studies University Theme: The Unique Role of History in Cross-Cultural Communication How can history serve as a bridge to cross cultural divides and promote mutual understanding? Can the historical narratives, laws of rise and fall, and interaction patterns of different civilizations provide wisdom and a basis for dialogue to interpret the complex cultural collisions of the present? David and Wang Chong's conversation profoundly and simply clarified how a historical perspective can help people transcend current misunderstandings and promote the development and progress of human civilization.

      Renato de Almeida Freitas Junior, Renowned Brazilian lawyer & Yang Rui, Special Host of Hangzhou International Communication Center Theme: The Youth Force in Social Change Curitiba in Brazil signed an agreement with Hangzhou to become sister cities in 2001. Visiting China for the first time, Renato paid special attention to China's technological development, especially the practice of technology benefiting people. Through relaxed conversations, Yang Rui and Renato explored the resonance and complementary value of the two cities in fields such as public transportation, culture, and art.

      Angelina Hui Qing Zhang, Senior social media strategy consultant in Canada & Daria, Host of Hangzhoufeel Theme: Generation Z Embraces Diverse Civilizations Angelina, a content creator with 7 million followers, and Daria, host of Hangzhoufeel, shared their creative insights in the cross-cultural digital ecosystem—how to connect global youth culture through content such as fashion, beauty, and music.

      Christina Papageorgopoulou, Greek anthropology professor & Guo Yi, Professor of the School of Art and Archaeology, Zhejiang University Theme: Archaeological Science and the Code of Human Civilization Christina's team focuses on cutting-edge fields such as paleodietary studies, paleodemography, paleogenetics, and digital archaeology. She is full of interest in the development status, professional ecology, and youth participation of Chinese archaeology; Guo Yi has been engaged in archaeological science research for many years, restoring people's diet and life by measuring the stable isotope ratios of human bodies. The two scholars not only discussed the possibility of ancient DNA technology in the research of Liangzhu Civilization, but also explored the methodological innovation and theoretical breakthrough of archaeological science in the research of civilization mutual learning.

      Leonardo Cinieri Lombroso, Italian documentary director & Gu Jiafeng, Chinese film producer Theme: Let Stories Become History Ten years ago, a documentary about a Chinese girl and her Roman landlady was released, arousing curiosity about China among many Italian audiences. This time, Leonardo turned his in-depth exploration trip to Hangzhou into a story-collecting journey. Producer Gu Jiafeng had an in-depth conversation with Leonardo about the narratives of Chinese and Asian films, noting that directors and cameras can become a universal language for cultural integration and civilization mutual learning.

      Gunther Riehle, Top 10 World Photographers and renowned German photographer & Wu Zongqi, Honorary Chairman of the Zhejiang Photographers Association, China Theme: Cities and Nature in Images Gunther once won the Grand Prize at the Zhejiang International Photography Exhibition in China, thus forging an indissoluble bond with China. During this exploration trip to Hangzhou, he had a friendly conversation with Wu Zongqi, Honorary Chairman of the Zhejiang Photographers Association, who once presented him with the award. Hangzhou is a paradise for photographers to create, and they express themselves through images, presenting a unique artistic dialogue.

      Tunç Akkoç, Founder and Editor-in-Chief of Harici Media in Turkey & Shen Zhixing, Director and Professor of the Turkish Research Center, Mediterranean Research Institute, Zhejiang International Studies University Theme: Exploration of the Coexistence of Diverse Civilizations Tunç is not only the founder and editor-in-chief of Harici, a well-known Turkish media organization, but also a documentary producer who has traveled around the world. Professor Shen Zhixing has been deeply engaged in Turkish language teaching and research for more than 30 years. He has not only compiled the "Turkish-Chinese Dictionary", but also introduced classic works such as Orhan Pamuk's "My Name Is Red" (Nobel Prize winner in Literature) to Chinese readers. The two cultural envoys had an in-depth dialogue on the development of China-Turkey relations and literary mutual translation.

      We deeply understand that the charm of civilization lies not in uniformity but in diversity; not in monologue but in dialogue. The exciting content of "Hangzhou and the World: 10 Paired Conversations" has been released on Hangzhoufeel's social media accounts. We hope you will enjoy your viewing.

      (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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