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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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    Highlights of RBI's August monetary policy
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    Two women held at Delhi airport with 1 kg gold concealed as silver-coated armlet
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    India's services sector growth hits four-and-a-half-year low in July on weak demand: PMI
    SC grants interim bail to businessman Anwar Dhebar in manpower commission 'scam' case
    The Taxation and Other Laws Amendment Bill 2026 - Introduced in Lok Sabha on 4th August 2026
    RBI marginally raises FY27 GDP growth projection to 6.7 pc, lowers inflation forecast
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    RBI keeps policy rate unchanged for third time in row in FY27 amid West Asia crisis
    RBI keeps policy rate unchanged for third time in row amid West Asia crisis
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    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
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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
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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.
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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.
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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.
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    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.
    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.
    August 5, 2026
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    Interim bail conditions require residence outside the state and trial attendance in alleged manpower commission corruption proceedings.
    Interim bail was granted to Anwar Dhebar in a matter involving alleged corruption and an illegal commission mechanism linked to a state marketing corporation. Conditions require him to remain outside Chhattisgarh, attend the trial court, and provide his residential address. The allegations concern manpower supply agencies allegedly being compelled to pay commissions for clearance of legitimate bills, with proceeds routed through intermediaries. The case was registered under the Indian Penal Code and the Prevention of Corruption Act.
    August 5, 2026
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    Tax certainty measures revise fund-management safe harbours, electronic-payment charges, sectoral exemptions, business-trust treatment, and excess expenditure appropriation.
    The Taxation and Other Laws (Amendment) Bill, 2026 proposes to replace the Income-tax (Amendment) Ordinance, 2026 and amend payment-system and tax laws. It would prohibit charges on notified electronic payments, revise safe-harbour conditions for eligible investment funds and fund managers, and expand tax exemptions for Government securities, qualifying rough-diamond sales and bonded-warehouse component storage. It also modifies exemptions concerning electronic-goods contract manufacturing, data centres and business-trust dividends, while imposing a differentiated surcharge on qualifying special purpose vehicles. A separately included appropriation bill authorises excess expenditure from the Consolidated Fund of India.
    August 5, 2026
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    Growth and inflation projections reflect resilient domestic activity while energy volatility, supply disruptions, and food prices sustain inflation risks.
    Monetary policy projections for fiscal 2026-27 revise real GDP growth upward to 6.7 per cent and Consumer Price Index inflation downward to 5 per cent. Domestic activity is described as resilient amid global uncertainty, but inflationary risks persist from rainfall disruption, energy-price volatility, supply-chain uncertainty, and second-round effects of higher food, fuel and input costs. Core inflation is projected at 4.3 per cent for the fiscal year.
    August 5, 2026
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    Industry collaboration strengthens MSME competitiveness through shared resources, market linkages, capability building and inclusive support for women entrepreneurs.
    MSME development is linked to collaboration, knowledge-sharing, institutional support and capability building. Industry associations can provide networking, policy advocacy, business intelligence, skills programmes, shared infrastructure and market linkages, while collective procurement, shared logistics, digital commerce and export readiness may improve competitiveness. Women-led enterprises benefit from market-oriented capability development, mentorship, continuous learning, professional networks, capacity-building programmes and institutional support. The Development of Industry Associations initiative is intended to connect associations and facilitate the sharing of best practices.
    August 5, 2026
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    Monetary policy rate maintenance continues under a neutral stance amid energy disruption, inflation concerns and sustained currency depreciation.
    Monetary policy rate maintenance was continued with the repo rate retained at 5.25 per cent under a neutral stance amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The growth forecast was marginally increased and the inflation projection reduced. Sustained rupee depreciation against the dollar was attributed to costly oil, capital outflows, widening trade deficits and a strong US dollar.
    August 5, 2026
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    Monetary policy rate pause maintains a neutral stance amid energy disruption, inflation concerns and sustained rupee depreciation pressures.
    Monetary policy rates were retained without change for a third consecutive review, with a neutral stance maintained amid uncertainty over energy prices and supply disruptions associated with the West Asia crisis. The policy assessment noted retail inflation above the medium-term target, alongside an upward revision to growth expectations and a downward revision to the inflation projection. Continued rupee depreciation was linked to higher oil prices, capital outflows, widening trade deficits and a stronger US dollar.

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      About 50 pc turnout in Maharashtra civic polls; ink row leaves 'indelible' mark, SEC orders probe

      January 15, 2026

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      Mumbai, Jan 15 (PTI) Around 50 per cent polling was recorded in Mumbai and 28 other municipal corporations in Maharashtra on Thursday amid sporadic clashes, while a major controversy erupted over claims that the ink applied on voters' fingers could be easily removed.

      The polling day saw clashes among groups, allegations of bogus voting and distribution of cash as well as glitches in EVMs.

      Speaking shortly after voting ended at 5.30 pm, State Election Commissioner Dinesh Waghmare said the turnout in the 29 civic bodies was in the 46 per cent-50 per cent range. The exact polling figures will be declared later, another official said.

      Vote count will begin at 10 am on Friday.

      As per official data, 41.08 per cent of the eligible voters had cast their ballots in Mumbai, which has more than 1 crore electors, till 3.30 pm. The data data showed that ward no 114 in suburban Bhandup recorded the highest turnout at 53.34 per cent, while ward no 227 in Colaba, South Mumbai, reported the lowest turnout of 15.73 per cent till 3.30 pm.

      In the 2017 elections, the polling percentage in Mumbai was 55.53, while the average voting figure in 26 corporations - elections were held for the first time in Jalna and Ichalkaranji municipal corporations – was 56.35 per cent.

      On Thursday, the spotlight was on Mumbai, where the BJP-led Mahayuti alliance was locked in an intense battle with the reunited Thackeray cousins for control of India's largest and richest civic body.

      In the Brihanmumbai Municipal Corporation (BMC), whose annual budget is over Rs 74, 400 crore, there were 1,700 candidates in the arena for 227 seats in the elections held after a four-year delay.

      More than 25,000 police personnel were deployed across Mumbai to oversee elections.

      Polling for 2,869 seats across 893 wards in the 29 civic bodies began at 7.30 am and concluded at 5.30 pm. A total of 3.48 crore voters were eligible to decide the fate of 15,931 candidates, including 1,700 in Mumbai.

      Except for Mumbai, the 28 other urban bodies have multi-member wards.

      The BMC elections faced significant delays due to the COVID-19 pandemic, Supreme Court rulings on OBC reservations, and issues related to ward delimitation.

      The last BMC polls were held in 2017. The term of the corporators ended on 7 March 2022, and subsequent elections could not be held in time, resulting in the civic body being placed under an administrator.

      As voting commenced, social media was flooded with videos of ordinary voters, politicians, and some mediapersons using Acetone to wipe off the ‘indelible’ ink applied on their fingers after voting.

      The State Election Commission (SEC), however, rejected the allegations and warned of acting against those propagating such claims.

      In the evening, the SEC said it would conduct a thorough probe into the quality of the `indelible' ink in marker pens used for the polls, after Opposition leaders alleged that the mark on a voter's finger could be removed easily, enabling bogus voting.

      Speaking to PTI, State Election Commissioner Dinesh Waghmare said in view of the controversy, the SEC will not use marker pens for the Zilla Parishad elections scheduled on February 5.

      Instead, for the ZP polls, the poll panel will revert to the traditional ink -- produced by Mysore Paints and Varnish Ltd, a Karnataka government company -- used in assembly and Lok Sabha elections, said the IAS officer.

      "The SEC has decided to conduct a probe.....it will cover not only the ink quality but also the videos which were circulated throughout the day. The probe into videos is to ascertain whether the ink was applied on the finger while voting or in a mischievous way," Waghmare said.

      Shiv Sena (UBT) chief Uddhav Thackeray claimed irregularities in the civic polls, terming it an attempt to murder democracy, and urged voters to dislodge the “brutal, fraud, corrupt and dictatorial regime “ of the BJP.

      Uddhav and his cousin Raj Thackeray, who heads the Maharashtra Navnirman Sena, targeted the SEC over a range of issues, besides claiming that the ink used on voters' fingers could easily be erased.

      Addressing a news conference, Uddhav demanded the suspension of Waghmare, and alleged collusion between the poll body and the government.

      Terming the SEC an anti-constitutional body, Uddhav said, “Never ever such things (alleged irregularities) have happened before”, and said the ink used by the poll commission could be erased using hand sanitisers.

      Raj targeted the SEC over the use of the Printing Auxiliary Display Unit (PADU) in the civic polls.

      The SEC did not even bother to give any clarification on the use of PADU and extended the canvassing time to allow distribution of money (by ruling parties), he alleged.

      Raj Thackeray claimed that the SEC is using a new pen, due to which the markings on the voter's fingers disappeared.

      After casting his vote in the Nagpur Municipal Corporation (NMC) elections, Chief Minister Devendra Fadnavis said, “I have also been marked with a marker, is it erasing? Creating a ruckus on everything and raising questions is wrong.” A host of Bollywood personalities, including Akshay Kumar, Aamir Khan and Salman Khan, stepped out of their homes and voted in the Mumbai civic body polls with the hope that the "right" candidates will win and tackle crucial issues, from infrastructure challenges to pollution.

      Actors Hema Malini, Saira Banu, Shabana Azmi, John Abraham, Ranbir Kapoor, Kareena Kapoor Khan, Saif Ali Khan, Vicky Kaushal, Janhvi Kapoor, Shraddha Kapoor, Kartik Aaryan, Paresh Rawal and screenwriter Salim Khan, also exercised their franchise.

      'Khiladi' actor Kumar, one of the first to arrive at his designated polling booth, underscored the significance of making informed voting choices rather than merely expressing grievances about civic issues. The superstar encouraged Mumbaikars to perceive this day as an opportunity to wield their "remote control" over public representatives.

      "All the people of Mumbai must come out and vote, rather than complaining later about things like 'we don't have water, roads are not proper, and that there's no cleanliness, etc'. So, now it's our turn and we all should step out and vote for the right person. If you want to be the real hero of Mumbai, then instead of (mouthing) dialogues, come and vote, Kumar told reporters after casting his vote.

      Aamir Khan encouraged citizens to partake in the elections and lauded the BMC for making "good arrangements" at polling booths.

      Ranbir Kapoor, too, praised the civic body for providing great facilities to voters during elections and even during festivities like Ganesh Chaturthi.

      "We complain throughout the year saying, 'our city doesn't have this or that, and talk all the time about issues', so this is your time to come and vote, the 43-year-old 'Raajneeti' actor stated.

      Actor-politician and BJP MP Hema Malini emphasised that it's essential to vote for the right candidate to ensure a "cleaner, safer, and pothole-free" Mumbai.

      Cricket icon Sachin Tendulkar arrived with his wife, Anjali Tendulkar, and daughter, Sara Tendulkar, to cast his vote at the Pali-Chimbai Municipal School in Bandra.

      After casting his vote in Nagpur, RSS chief Mohan Bhagwat highlighted the importance of citizen participation in a democratic setup.

      Bhagwat said, "In a democratic setup, voting is needed to elect the government, and hence it is the duty of every citizen to vote.” Sporadic glitches in EVMs were reported during Pune Municipal Corporation (PMC) polls, but election officials said replacement machines were promptly installed as per procedure.

      NCP (SP) leader Rohit Pawar said some incidents of EVMs shutting down were reported at the start of polling in Pune and Pimpri Chinchwad municipal corporations.

      Mumbai Congress president Varsha Gaikwad alleged large-scale misuse of money and power by the ruling BJP-led alliance in the BMC elections.

      Dhule in North Maharashtra witnessed civic poll violence, including two groups scuffling and damaging an EVM and a mob attacking the residence of a Shiv Sena leader, police said.

      The residence of Shiv Sena's Dhule district chief Manoj More at Krushi Colony in Deopur was attacked by 20 persons, an official said.

      The mob barged into More's house, pelted stones and damaged vehicles, allegedly over a dispute between him and BJP's Vilas Shinde on withdrawing candidature, the official added.

      Defying age and inspiring many, a 98-year-old former school teacher cast her vote in Thane, proving that duty to democracy knows no barriers.

      Leela Shrotri, a resident of Parmar House at Tembhi Naka in Thane and the great-grandmother of actor Pushkar Shrotri, left onlookers in awe of her unwavering enthusiasm as she arrived at a polling booth at a school to cast her vote. PTI MR PR ND KK DC SPK CLS AW KKP BNM GK NR KRK VT RSY

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