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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 operations require confirmed orders, traceable segregated stock, timely seller payments and proportionate export-benefit pass-through.
    The Inventory-based Cross-border E-Commerce Export Framework permits export-only inventory operations through a registered Exporter-on-Record, which procures goods against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted for domestic sale. Sellers must receive timely payment irrespective of overseas buyer payment, proportionate pass-through of export rebates and refunds, and visibility of sale prices, orders and shipment tracking. Annual compliance certification and digital records are required.
    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
    Show AI Summary
    Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
    Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
    August 5, 2026
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    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
    Show AI Summary
    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
    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
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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.
    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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      Punjab Kesari Group writes to CM Mann, claims being targeted with multiple raids; AAP govt dismisses allegations

      January 16, 2026

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      Jalandhar, Jan 15 (PTI) The Punjab Kesari newspaper group on Thursday wrote to Chief Minister Bhagwant Mann alleging that it was being targeted with multiple raids by enforcement authorities, events that it said began with a 'balanced and fair' news report on opposition allegations against the ruling AAP's national convenor.

      The group alleged these raids targeted it and its associate concerns "with an extraneous motive to intimidate the press".

      The Punjab government issued an official statement late evening and categorically rejected the Punjab Kesari group's allegations.

      Opposition parties BJP, Congress and SAD hit out at the ruling AAP alleging it was using state power to muzzle the press. The BJP said its delegation will meet the governor and raise the issue.

      The letter to Mann, signed by Vijay Kumar Chopra, Avinash Chopra and Amit Chopra, at the outset, said, "We are writing to express our deep concern and anguish regarding certain recent developments which give rise to a serious apprehension that the Punjab government is specifically targeting the Punjab Kesari Group and its associate concerns with an extraneous motive to intimidate the press." Mann has been requested to "enquire into this matter urgently and take the necessary action at the earliest".

      The letter claimed the events began with a news story published on October 31, 2025 "which was a very balanced and fair report regarding allegations by the opposition pertaining to the national convenor of the ruling party in Punjab".

      Thereafter, from November 2, 2025, all advertisements to Punjab Kesari group which publishes the widest circulated Hindi and Punjabi dailies in Punjab, have been stopped by the Punjab government, the letter said.

      "Despite this economic coercion on the press, we stood steadfast and continue our independent and free reporting. However, in the past few days a relentless campaign has been launched against Punjab Kesari and its promoters," it alleged.

      The group alleged that in the last few days, several actions were taken against the Chopra family, promoters of Punjab Kesari group, among others.

      The letter mentioned about raid by FSSAI at a hotel in Jalandhar run by Chopra Hotels Private Limited on January 11 - Park Plaza Jalandhar, raid by the GST Department at the hotel in Jalandhar run by Chopra Hotels Private Limited on January 12, raid by the Excise Department at the hotel in Jalandhar run by Chopra Hotels Private Limited on January 12.

      It further claimed that a raid was conducted at Punjab Kesari Printing Press on January 12, by Deputy Director of the Factories Department at focal point Ludhiana.

      It also talked about a show cause notice issued by the Excise Department for cancellation of licence by the Collector-cum-Excise, Jalandhar Zone on January 13 "and cancellation of licenses ordered on January 14.

      Besides, it also mentioned about "disconnection of electricity connection on January 14 at the hotel in Jalandhar".

      A raid and action by the State Pollution Control Board were carried out at printing presses at Ludhiana and Jalandhar on January 15, it alleged.

      "Due to the actions it is feared that as on January 15 the operation of the press at various presses at Jalandhar, Ludhiana & Bathinda will be obstructed or stopped altogether. There is a heavy deployment of police force outside the press at Suranussi, Jalandhar, focal point, Ludhiana and IGC Bathinda," it claimed.

      Through the letter, the group reminded the chief minister that as he must be aware, late Lala Jagat Narain founded the Hind Samachar in 1949 and Punjab Kesari started publication in 1965.

      "Our commitment to the freedom of the press is well known, as both our revered Late Lala Jagat Narain & Late Shri Romesh Chandra Chopra and 60 other people of staff, agents, hawkers, reporters lost their lives and several got injured due to fearless reporting during the days of insurgency/terrorism in Punjab. Despite this, the newspaper continued to report fearlessly without succumbing to any pressure or influence and shall continue to do so." "A targeted witch-hunt of this nature-where various departments, with a predetermined intent, are disrupting our operations-clearly reflects an intent to intimidate," the letter alleged.

      "We hope that your good office will not permit anyone in the government to intimidate the media, which is the fourth pillar of democracy," it said.

      An attempt to interfere with freedom of press would seriously undermine democracy in Punjab especially with the state going to elections soon, it added.

      In its statement, the Punjab government said it rejects the allegation of "targeted attack", noting that the claim "is an attempt to deflect attention from serious, recorded violations of law uncovered by multiple statutory authorities acting strictly within their legal mandate".

      "The Punjab Kesari Group is attempting to construct a narrative of intimidation by selectively listing inspections and enforcement actions, while conveniently omitting the causes, findings and outcomes of those actions, all of which are documented in official inspection reports, statutory notices and reasoned orders.

      "The starting point of this entire issue is not journalism, advertisements or editorial opinion. The starting point is hard evidence placed on official record," the government statement said.

      The Punjab government clarified that the excise action at Park Plaza, Jalandhar, was not a routine visit but followed a formal inspection that uncovered multiple and grave violations of excise law.

      These findings, the Punjab government said, were recorded in a written excise order passed after issuance of a show-cause notice, personal hearings, examination of records and admissions by the licensee.

      The Punjab government further noted that regulatory non-compliance extended beyond hotel operations. Inspections by the Labour and Factories Department across multiple printing units linked to the same group revealed serious and repeated violations of labour laws, safety norms and statutory record-keeping requirements.

      Responding to the claims of harassment, the government said that enforcement of labour, safety and environmental laws cannot be suspended under the pretext of press freedom.

      It also rejected the claim of a 'predetermined witch-hunt'.

      The Punjab government reaffirmed its commitment to a free, independent and fearless press, while making it clear that press freedom does not confer immunity from excise, environmental or labour laws.

      "In Punjab, laws apply equally to everyone. Editorial independence will be protected, but violations that endanger public health, workers or the environment will not be overlooked," the statement said. PTI SUN VSD ZMN

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