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    Sensex climbs 374 points on buying in Reliance, ICICI Bank; Nifty ends flat
    Insurance Division, DFS Secures 3rd Rank in Group A Category of Grievance Redressal Assessment & Index (GRAI) for June 2026
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    DRI busts illegal drug manufacturing unit in Satara district in Maharashtra; two arrested
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    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
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    August 6, 2026
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    Closing auction price discovery may affect benchmark levels differently based on constituent liquidity and concentrated institutional order flow.
    The Closing Auction Session in the equity cash segment uses an auction-based method to determine closing prices of eligible shares with futures and options contracts, aiming to strengthen transparent and robust price discovery. Its effect on benchmark closing levels may differ according to constituent liquidity and institutional order flow. The Reserve Bank of India retained the policy repo rate and neutral stance, indicating that future policy decisions will be data-dependent and influenced by assessment of energy-cost effects on inflation.
    August 6, 2026
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    Public grievance redressal strengthens through monitoring, senior review, workshops, stakeholder coordination, and customer-centric service delivery improvements.
    Public grievance redressal is assessed through the Grievance Redressal Assessment and Index, which analyses grievance categories and disposal. The Department of Financial Services' Insurance and Banking Divisions received third and sixth ranks respectively in the June 2026 assessment. Its framework includes disposal of grievances, random reviews by senior officials, and workshops on effective grievance redressal, supporting best practices, stakeholder coordination, technology use, customer-centric service, and accountable public service delivery.
    August 6, 2026
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    Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
    The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
    August 6, 2026
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    Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
    The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
    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.
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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.
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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.
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    Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
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    August 5, 2026
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    On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
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    Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
    Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
    August 5, 2026
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    Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
    Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
    The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
    August 5, 2026
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
    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.

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      US plans to 'run' Venezuela and tap its oil reserves, Trump says, after operation to oust Maduro

      January 4, 2026

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      Caracas, Jan 4 (AP) Hours after an audacious military operation that plucked leader Nicolás Maduro from power and removed him from the country, President Donald Trump said Saturday that the United States would run Venezuela at least temporarily and tap its vast oil reserves to sell to other nations.

      The dramatic action capped an intensive Trump administration pressure campaign on the South American nation and its autocratic leader and months of secret planning resulting in the most assertive American action to achieve regime change since the 2003 invasion of Iraq.

      Speaking to reporters hours after Maduro's capture, Trump revealed his plans to exploit the leadership void to “fix” the country's oil infrastructure and sell “large amounts” of oil to other countries.

      Venezuela's vice president demanded in a speech that the US free Maduro and called him the country's rightful leader.

      Maduro and his wife, seized overnight from their home on a military base, were aboard a US warship on their way to New York to face prosecution for a Justice Department indictment accusing them of participating in a narco-terrorism conspiracy.

      The legal authority for the operation was not immediately clear, though the Trump administration described it — and earlier deadly strikes on boats in the Caribbean Sea — as necessary to stem the flow of dangerous drugs.

      Trump also claimed the US government would help run the country and was already doing so, though there were no immediate signs of that. Venezuelan state TV continued to air pro-Maduro propaganda, broadcasting live images of supporters taking to the streets in Caracas in protest.

      “We're going to run the country until such time as we can do a safe, proper and judicious transition,” Trump said at a Mar-a-Lago news conference where he boasted that this “extremely successful operation should serve as warning to anyone who would threaten American sovereignty or endanger American lives.” Maduro and other Venezuelan officials were indicted in 2020 on “narco-terrorism” conspiracy charges, but the Justice Department released a new indictment Saturday of Maduro and his wife, Cilia Flores, that painted the regime as a “corrupt, illegitimate government” fuelled by a drug trafficking operation that flooded the US with cocaine. The US government does not recognise Maduro as the country's leader.

      Trump posted a photo on social media showing Maduro wearing a sweatsuit and a blindfold on board the USS Iwo Jima.

      Early morning attack ---------------------- The operation followed a monthslong Trump administration effort to push the Venezuelan leader, including a major buildup of American forces in the waters off South America and attacks on boats in the eastern Pacific and Caribbean accused of carrying drugs.

      Last week, the CIA was behind a drone strike at a docking area believed to have been used by Venezuelan drug cartels — the first known direct operation on Venezuelan soil since the US began strikes in September.

      Maduro had decried prior military operations as a thinly veiled effort to oust him from power.

      Taking place 36 years to the day after the 1990 US invasion of Panama that led to the surrender and seizure of leader Manuel Antonio Noriega, the Venezuela operation unfolded under the cover of darkness early Saturday as Trump said the US turned off “almost all of the lights" in the capital city of Caracas while forces moved in to extract Maduro and his wife.

      Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, said US forces had rehearsed their manoeuvres for months, learning everything about Maduro — where he was and what he ate, as well as details of his pets and his clothes.

      “We think, we develop, we train, we rehearse, we debrief, we rehearse again and again,” Caine said. “Not to get it right, but to ensure we cannot get it wrong.” Early Saturday, multiple explosions rang out and low-flying aircraft swept through Caracas. Maduro's government accused the US of attacking civilian and military installations, calling it an “imperialist attack” and urging citizens to take to the streets.

      The attack lasted less than 30 minutes and the explosions — at least seven blasts — sent people rushing into the streets, while others took to social media to report what they saw and heard.

      Some Venezuelan civilians and members of the military were killed, said Vice President Delcy Rodríguez, without giving a number. Trump said some US forces were injured but none were killed.

      Video obtained from Caracas and an unidentified coastal city showed tracers and smoke clouding the landscape as repeated muted explosions illuminated the night sky. Other footage showed cars passing on a highway as blasts illuminated the hills behind them. The videos were verified by The Associated Press.

      Smoke was seen rising from the hangar of a military base in Caracas, while another military installation in the capital was without electricity.

      Under Venezuelan law, Rodríguez would take over from Maduro. But Rodriguez made clear during a Saturday appearance on state television that she did not plan to assume power. She called for Maduro's release and pronounced him president.

      “There is only one president in Venezuela, and his name is Nicolás Maduro Moros," she said.

      Some streets in Caracas fill up --------------------------------- Venezuela's ruling party has held power since 1999, when Maduro's predecessor, Hugo Chávez, took office, promising to uplift poor people and later to implement a self-described socialist revolution.

      Maduro took over when Chávez died in 2013. His 2018 reelection was widely considered a sham because the main opposition parties were banned from participating.

      During the 2024 election, electoral authorities loyal to the ruling party declared him the winner hours after polls closed, but the opposition gathered overwhelming evidence that he lost by a more than 2-to-1 margin.

      In a demonstration of how polarizing a figure Maduro is, people variously took to the streets to protest his capture and celebrate it.

      At a protest in the Venezuelan capital, Caracas Mayor Carmen Meléndez joined a crowd demanding Maduro's return.

      “Maduro, hold on, the people are rising up!” the crowd chanted. “We are here Nicolás Maduro. If you can hear us, we are here!” Earlier, armed people and uniformed members of a civilian militia took to the streets of a Caracas neighbourhood long considered a stronghold of the ruling party.

      In other parts of the city, the streets remained empty hours after the attack, as residents absorbed events. Some areas remained without power, but vehicles moved freely.

      “How do I feel? Scared, like everyone,” said Caracas resident Noris Prada, who sat on an empty avenue looking down at his phone. “Venezuelans woke up scared, many families couldn't sleep.” In the Chilean capital of Santiago, people waved Venezuelan flags and banged pots and pans as vehicles passed by honking at them.

      In Doral, Florida, home to the largest Venezuelan community in the US, people wrapped themselves in Venezuelan flags, ate fried snacks and cheered as music played. At one point, the crowd chanted “Liberty! Liberty! Liberty!” Questions of legality ---------------------- Some legal experts raised immediate concerns about the operation's legality.

      Lawmakers from both political parties in Congress have raised reservations and flat-out objections to the US attacks on boats suspected of drug smuggling near the Venezuelan coast. Congress has not specifically approved an authorisation for the use of military force for such operations in the region.

      Connecticut Rep. Jim Himes, the top Democrat on the House Intelligence Committee, said he had seen no evidence that would justify Trump striking Venezuela without approval from Congress and demanded an immediate briefing by the administration on "its plan to ensure stability in the region and its legal justification for this decision.” Congressional leaders were not notified by the Trump administration about the military action until early Saturday morning, after it was already underway, which Secretary of State Marco Rubio said was necessary to preserve the operation's integrity.

      House Speaker Mike Johnson, a Republican, called it a “decisive and justified operation that will protect American lives" and said the Trump administration was working to schedule briefings. (AP) GSP

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