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    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
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    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
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    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
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    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
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    Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
    Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
    August 5, 2026
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    Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
    August 5, 2026
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    Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
    The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
    August 5, 2026
    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
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    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
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    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
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    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
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    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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    Polymer currency notes target improved durability as monetary policy remains data-dependent and rupee management pursues an orderly trajectory.
    Polymer currency notes are targeted for circulation at the beginning of the next financial year, subject to implementation proceeding as planned. They are intended to improve durability, especially for lower-denomination notes with high circulation velocity. Monetary policy decisions will remain data-dependent and focused on aligning headline inflation with its medium-term target. Foreign Currency Non-Resident (Bank) scheme inflows are expected to remain healthy until closure, with no proposal for premature termination. Rupee management aims to maintain an orderly exchange-rate trajectory.
    August 5, 2026
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    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.

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      ED searches I-PAC office, its director Pratik Jain's residence in Kolkata; Mamata storms raid sites in high drama

      January 8, 2026

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      Kolkata/New Delhi, Jan 8 (PTI) The ED on Thursday conducted searches at the office of the political consultancy firm I-PAC and the residence of its director Pratik Jain in Kolkata, an action that ignited high drama, with West Bengal chief minister Mamata Banerjee unexpectedly storming into the sites during raids, alleging that the central agency was trying to seize the TMC’s sensitive data ahead of the high-stakes state polls.

      In a strong rebuttal, the ED, which maintained that the searches were part of a money laundering probe into an alleged multi-crore rupee coal pilferage scam, accused Banerjee of obstructing a lawful investigation and claimed that she and the state police forcibly removed "key evidence" during the raids.

      The confrontation, which unfolded at a politically combustible moment, added sharp electoral overtones ahead of the elections to the 294-member West Bengal Assembly, to be held in less than three months, as both the Trinamool Congress and the BJP were locked in an aggressive battle for narrative control.

      The standoff also soon took a legal turn, with the ED moving the Calcutta High Court, seeking permission to file a petition, alleging interference in its investigation. The I-PAC also approached the HC, opposing the searches and questioning its legality.

      According to the ED, the I-PAC's office in Salt Lake Sector V and Jain's residence on Loudon Street were among about 10 premises, including four in Delhi, that were raided by the federal probe agency in the presence of central paramilitary teams from 7 am. However, Banerjee’s unscheduled appearance at the raid site injected street-level drama, drawing senior police officers, party leaders, and central forces into a tense stand-off that unfolded in full public view.

      Banerjee arrived around noon at the residence of Jain, co-founder and director of Indian Political Action Committee (I-PAC), soon after Kolkata Police Commissioner Manoj Verma reached the spot. She stayed inside for about 20–25 minutes before emerging with a green folder in her hand, accusing ED officials of overreach.

      For the chief minister, the optics of physically confronting the ED, rather than responding through statements alone, appeared to be a calibrated move to send a message of resistance, reinforcing her long-held image as a leader willing to meet institutional pressure head-on ahead of polls.

      "They have raided the residence and offices of our in-charge of the IT cell. They were confiscating my party’s documents and hard disks, which have details about our party candidates for the assembly polls. I have brought those back," Banerjee told reporters, asserting that the materials had no link to any financial probe.

      For Banerjee, the ED action reinforced her long-running campaign charge that central agencies are being deployed to disrupt opposition parties at critical moments of electoral preparation, while for the BJP, the raids offered an opportunity to underline its anti-corruption plank in the state where it is seeking to claw back ground after its 2021 defeat.

      I-PAC, apart from offering political consultancy to the TMC, also manages the party’s IT and media operations, making the search especially sensitive in the run-up to elections.

      Banerjee alleged that ED officials had walked away with hard disks, mobile phones, laptops, candidate lists, and internal strategy documents of the ruling party. “Is it the duty of the ED to collect political party data?” she asked.

      Launching a sharp attack on the BJP leadership, Banerjee described the searches as an act of "political vendetta" and accused Union Home Minister Amit Shah of "misusing" constitutional agencies to intimidate opposition parties.

      "This is not law enforcement. The nasty home minister, the naughty home minister, who cannot protect the country and is taking away all my party documents," she said, later adding that the Prime Minister must "control his home minister".

      In a statement issued from New Delhi, the ED alleged that Banerjee entered Jain’s residence during the raid in a money laundering case linked to alleged coal smuggling and took away "key evidence", including physical documents and electronic devices.

      The agency said she subsequently went to the I-PAC office, from where she, her aides, and the state police "forcibly removed physical documents and electronic evidence".

      Banerjee alleged the raids began around 6 am when no one was present. "They started the search when there was nobody inside. They transferred our data, poll strategies, and information into their system. This is a crime," she said after visiting the office.

      By the time she reached the Sector V office of I-PAC around 1 pm, senior officers of the Bidhannagar Police Commissionerate had cordoned off the area, while central forces sealed the entry and exit points of the multi-storey building housing the I-PAC office.

      Without engaging with paramilitary personnel, Banerjee accessed the building through the basement and took a general lift to the 11th floor, declining a separate VIP lift—an image the party projected as symbolic defiance.

      "They have taken our election strategy, our SIR data, and other details. If the assembly polls pass and we have to draw up election plans afresh, who will be responsible?" she said, alleging that tables in the office had been left empty after documents were taken away.

      Asserting that the TMC is a registered political party that pays income tax regularly, Banerjee said the ED could have sought any legitimate information from the Income Tax Department.

      "The BJP is the biggest party of thieves," she charged, warning that restraint should not be mistaken for weakness.

      She also alleged large-scale deletion of voters’ names from electoral rolls through the Special Intensive Revision (SIR) process.

      "Do they think they can capture the state by deleting voters and raiding the IT cell offices of political parties?" she said, asserting that the Centre could not "bulldoze us using money and muscle power".

      Banerjee remained at the I-PAC office until Jain arrived and resumed work, leaving the premises around 4.14 pm.

      The searches, the ED said, were part of a probe into a 2020 case registered by the CBI against a coal smuggling syndicate allegedly led by Anup Majhi, alias Lala, accused of illegally excavating coal from Eastern Coalfields leasehold areas in and around Asansol in Paschim Bardhaman district.

      According to the ED, a hawala operator linked to the coal smuggling racket facilitated transactions of tens of crores of rupees to Indian PAC Consulting Pvt Ltd, the registered company of I-PAC.

      "IPAC is also one of the entities linked to hawala money," the agency alleged, maintaining that the proceedings were being conducted peacefully and professionally until the chief minister’s arrival.

      "It is clarified that the search is evidence-based and not targeted at any political establishment. No party office has been searched. The search is not linked to any elections," the ED said, adding that the actions of Banerjee and the police amounted to obstruction under the Prevention of Money Laundering Act (PMLA).

      The Indian Political Action Committee (I-PAC) is a political consultancy firm that works with parties and leaders on election strategy, campaign management, data analytics, and digital outreach. Founded by political strategist Prashant Kishor, I-PAC has been working with the TMC since June 2019.

      The BJP seized on the ED’s allegations to counter the TMC’s charge of political vendetta. Leader of Opposition Suvendu Adhikari demanded strong legal action against the chief minister for allegedly interfering with the work of a central investigating agency.

      The BJP’s state unit said attempts to politicise a lawful probe or undermine constitutional authorities weakened public trust in institutions and the rule of law.

      The timing of Thursday’s standoff has also hardened political lines and once again placed central investigative agencies at the centre of a fraught federal contest.

      The episode has revived memories of February 2019, when Banerjee rushed to the same Loudon Street area during a CBI search of then police commissioner Rajeev Kumar’s residence and later staged a dharna in the central Kolkata.

      Banerjee also announced a protest rally on Friday against the searches.

      "Tomorrow I will lead a protest rally from Jadavpur 8B bus stand to Hazra crossing," she said and asked people to participate in the over 5-km long rally. PTI PNT NES AMR SMY RBT PNT PYK PYK

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