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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
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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
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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
    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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      In One Year, VinFast Went From a Whisper to a Roar in India's EV Market

      January 1, 2026

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      VinFast’s first year in India reads like a fast-building reveal, turning a surprising debut into a full EV ecosystem that’s begun to reset expectations for what a newcomer can achieve Gurugram, Haryana, India (NewsVoir) On a morning in New Delhi, the Bharat Mobility Global Expo buzzed with the familiar hum of India’s automotive giants. Visitors wandered between displays of combustion engines and gleaming show cars, the kind of scene Delhi has hosted for decades. But in one corner of the hall, the crowd slowed. Two premium compact electric SUVs sat under the lights, the VF 6 and VF 7, their sharp V-shaped signatures glowing long before anyone registered the name on the stand.

      VinFast’s debut in India on Jan 17 of last year caught even veteran showgoers off guard. The company had brought right-hand drive versions tailored specifically for Indian consumers, a quiet signal that it was here with purpose, not testing the waters. Still, few in the hall recognized the badge. Amid the hum of announcements and clicking shutters, one visitor leaned toward a friend and asked, “Who are these people?” That question did not hang in the air for long. In the weeks that followed, a group of Indian journalists traveled to Vietnam to see where the cars came from. What they discovered in the northen city of Hai Phong reframed everything.

      “I had no idea VinFast is such a big group,” auto journalist Swati Agrawal recalled. “I saw the factory, the manufacturing plant, and not only cars, even scooters, buses, electric buses. Everything is being manufactured in one place. Three lakh cars per year. This is not a small brand.” Her reaction points to a deeper story. VinFast’s sudden visibility in India is not merely an export push. It is the latest chapter in Vietnam’s own industrial transformation, one that has accelerated quickly enough to catch even Asia’s seasoned automotive observers off guard.

      A 400-Acre Factory… From Nothing By the time the expo lights dimmed, the next act of VinFast’s India story had already begun taking shape in Tamil Nadu months earlier.

      To choose a location for its plant, the company surveyed fifteen sites across six states. Tamil Nadu, with its manufacturing-ready infrastructure and active support for green mobility initiatives, rose to the top. What happened next showed how the brand like to act. And it’s right there in the name: Fast.

      In late February 2024, when the groundbreaking ceremony began on a sun soaked, low lying tract of land near Thoothukudi, the site was still empty. By Aug 4, 2025, it housed India’s newest electric vehicle factory, a 400-acre complex with body shop, paint shop, general assembly, logistics warehouse, and supplier-ready zones.

      “We entered India with nothing,” CEO Pham Sanh Chau said at the inauguration ceremony. “No land. No factory. No team. The only thing we had was a deep resolve and a belief that this area could become a leading hub for electric vehicles and auto components in South Asia.” He gestured to the plant behind him. “In just fifteen months, we transformed this land into a modern, highly-automated factory.” When the first VF 6 and VF 7 rolled out that morning, they were the first VinFast vehicles to be made-in-India, by the hands and minds of Indian people, for Indian customers. “They are a symbol of the aspirations and resilience of the Indian people as they reach for a better, cleaner future,” Chau said.

      The plant is expected to create 3,000-3,500 direct jobs and several thousand more across the supply chain as auxiliary partners move into the region. Suppliers have already expressed readiness to relocate workshops near the factory, a sign of confidence in Thoothukudi’s rise as an automotive production base.

      In parallel, VinFast’s India team has moved quickly to build the retail and service backbone that can make or break an EV brand in this market. By end of 2025, the company had opened 35 dealerships, stretching from Delhi, Gurugram and Noida in the north to Mumbai, Pune, Chennai, Bengaluru, Kochi and Hyderabad.

      Yet the most unusual part of the ecosystem lies in aftersales support. VinFast partnered with RoadGrid, myTVS and Global Assure with the aim of creating a full-fledged third-party service centers before the first customer deliveries. Global Assure will operate a round the clock helpline, roadside assistance and mobile service. RoadGrid and myTVS will handle charging, maintenance and diagnostics, including support in areas where VinFast does not yet have a showroom.

      For a country where questions about EV service often outweigh questions about EV design, this infrastructure may prove decisive.

      Financing, long a barrier for EV adoption in India, has also been addressed through agreements with major banks including HDFC Bank, Yes Bank, Axis Bank, and others. These arrangements offer everything from dealer inventory financing to 100 percent on-road customer loans, with bank officers stationed directly in showrooms for simplified approval.

      “This is how you support an EV transition,” one banker at the Chennai showroom launch said. “You do not just sell cars. You build systems.” And in the months since customer deliveries began, VinFast has quietly climbed into the ranks of India’s top electric vehicle brands. Industry registration data shows the company already placing among the country’s top 10 EV brands, a notable shift for a name that was unfamiliar to most Indians at the start of the year. Its early momentum, built on steady deliveries and expanding visibility on the roads, has reinforced what many analysts have begun to observe.

      “I love one thing about Vingroup,” Swati says. “They know what they are doing. And if they have a plant in India, people will think you are not going to just sell the product and leave.” She adds, “In India, if you give good price, good range, and good service, the customers are yours.” Why this first year matters The rollout of Made-in-India VF 6 and VF 7 has already begun shifting industry perception. In April 2025, ABP Live named the VF 7 “Most Awaited New Car,” praising its design and advanced features. At the Jagran Hi-Tech Awards later in the year, VinFast was named “EV Manufacturer of the Year”, and the VF 7 won “EV Disruptor of the Year”.

      “VinFast embodies the spirit of innovation and progress driving India’s EV transformation,” said Jagran’s auto editor Arjit Garg. He commented that the company has displayed a rare clarity of direction for a newcomer and a “people-first vision” that aligns with India’s long-term mobility goals.

      VinFast’s long-term commitment became even more visible on Dec 4, 2025, when VinFast signed a new MOU with the Government of Tamil Nadu to expand its Thoothukudi facility by an additional 200 hectares. The second-phase investment will add production lines for electric buses, e-scooters and charging infrastructure, deepening localization and strengthening India’s emergence as a regional manufacturing hub. For many observers, the expansion underscored that the company’s commitment runs far beyond its initial launch.

      With the factory inaugurated, dealerships opening, service networks activating and customers already booking, VinFast enters 2026 as a steady companion in India’s electric transition, intent on growing with the country.

      Indian visitors to Vietnam say the brand’s trajectory feels familiar yet refreshing. Piyush, a journalist and content creator, thinks back to the sight of VinFast cars filling Vietnam’s streets. “I can imagine something similar happening in India,” he says. “Maybe after five or six years.” (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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