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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
    Show AI Summary
    Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
    A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.
    August 5, 2026
    Show AI Summary
    Political restraint in public communications was urged, alongside adherence to principal-speaker protocol during press conferences and media interactions.
    Political restraint in public communications was urged after a social-media remark directed at Sunetra Pawar was criticised as ideologically irresponsible. It was stated that regret alone was insufficient and that leaders should exercise care in public comments. Press-conference protocol was also emphasised: the principal dignitary should respond to media questions, and those seated alongside should not participate in the interaction. Party colleagues were expected to act more responsibly in future media engagements.
    August 5, 2026
    Show AI Summary
    Neutral monetary policy stance continues as inflation clarity is awaited, alongside cooperative banking and lending-rate transparency measures.
    Monetary policy maintained the benchmark policy repo rate and a neutral stance pending clearer evidence that energy-cost pressures will generate broad-based inflation. Inflation is expected to rise temporarily due principally to food and fuel prices before moderating, while core inflation remains benign. The approach remains data-dependent, supported by two-way liquidity operations. Proposed measures include resuming urban cooperative bank licensing, revising rural cooperative bank credit-monitoring directions, and harmonising interest-rate regulation on advances across regulated entities to improve transparency and consumer protection.
    August 5, 2026
    Show AI Summary
    Repo rate stability preserves the policy stance amid lower inflation projections, stronger growth expectations and external-sector resilience.
    Monetary policy maintained the repo rate at 5.25 per cent following a unanimous policy committee decision. The growth forecast for FY27 was marginally increased, while the inflation projection was lowered. Inflation conditions remain uncertain because of monsoon, El Nino and geopolitical developments. Liquidity remained in surplus, and external-sector indicators reflected a current-account surplus, buoyant foreign direct investment inflows, renewed foreign portfolio investment inflows, and adequate foreign-exchange reserves.
    August 5, 2026
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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
    Show AI Summary
    Customs anti-smuggling enforcement targets gold concealed as silver-coated armlets following passenger profiling and personal search at airport.
    Customs officers intercepted two passengers arriving from Istanbul after Advance Passenger Information System profiling and their activation of the Door Frame Metal Detector. A personal search recovered approximately one kilogram of gold, silver-coated and concealed as traditional armlets worn on the upper arms. The gold was seized under the Customs Act, a smuggling case was registered, and investigation was initiated into the source and any wider smuggling network.
    August 5, 2026
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    Closing auction price discovery for eligible derivatives shares begins as monetary policy retains the repo rate and neutral stance.
    The Reserve Bank retained the repo rate with a neutral stance amid uncertainty over energy prices and supply disruptions. Stock exchanges introduced the Closing Auction Session in the equity cash segment for eligible shares with futures and options contracts. This auction-based mechanism determines closing prices of eligible stocks and aims to make price discovery more transparent and robust.
    August 5, 2026
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    Services-sector growth slowed as weaker demand, competition and postponed orders moderated business activity, while employment improved modestly.
    Services-sector growth slowed as domestic and export orders moderated amid weaker demand, competitive pressures, softer market conditions and postponed orders. Output continued to expand, but at its weakest pace in more than four years. Employment growth improved modestly, while input costs rose and firms increased selling prices. Business confidence remained positive but declined, and the composite output indicator weakened due principally to the sharp slowdown in services activity.

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      Aptronix Rewrites India's Retail Playbook: Launches Nation's Most Ambitious Device Exchange Revolution with Zero Sales Agenda

      January 22, 2026

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      In a landmark sustainability move, Apple Premium Partner accepts ANY 10 devices, dead or alive, to combat India's 3.2 million tonnes annual e-waste crisis New Delhi [India], January 22: In what industry experts are calling India's most disruptive retail intervention of the decade, Aptronix, India's largest Apple Premium Partner, has shattered every conventional exchange barrier with the launch of 'Limitless Aptronix Exchange powered by Servify, a groundbreaking program that prioritises planetary health over profit margins.

      Breaking away from sales-driven exchange schemes that plague Indian retail, Aptronix's initiative accepts up to 10 electronic devices of ANY brand, ANY condition, and ANY category, including completely non-functional gadgets and household electronics, offering their combined value toward Apple product upgrades. More significantly, devices with zero resale value aren't just accepted, they're celebrated through tree plantation and reward vouchers, transforming e-waste liabilities into environmental assets.

      The Sustainability-First Model That Changes Everything Unlike traditional exchange programs designed to accelerate sales cycles, Aptronix has engineered a reverse model where environmental impact drives commercial activity, not the other way around. Powered by technology partner Servify, India's leading device lifecycle management platform, and recycling partner Karo Sambhav, a government-recognised Producer Responsibility Organisation, the initiative creates a closed-loop ecosystem that has never existed in Indian retail.

      The program sets unprecedented targets: 500,000+ devices diverted from landfills in Year 1 alone, with an industry-leading acceptance rate of 10 devices per transaction. The initiative maintains a zero rejection policy, guaranteeing 100% device acceptance regardless of condition. For every dead or non-functional device collected, one tree will be planted through verified plantation partners. The environmental mathematics are staggering: the program expects to prevent 2,500+ tonnes of e-waste from improper disposal annually, with a carbon offset potential of 15,000+ tonnes CO₂ equivalent over five years. Customers contributing to responsible disposal will collectively receive an estimated ₹5 crore+ in rewards during the first year alone.

      Technology Meets Purpose: The Servify-Karo Sambhav Alliance Servify brings its AI-powered device diagnostics and valuation technology to ensure instant, transparent pricing even for devices in poor condition. Their proprietary platform processes device health assessment in under 90 seconds, creating friction-free customer experiences while maintaining rigorous environmental documentation. This technological backbone transforms what could be a cumbersome multi-device evaluation process into a seamless experience that respects customers' time while maintaining absolute transparency.

      Karo Sambhav, managing over 65% of India's formal e-waste recycling infrastructure, ensures every collected device follows government-mandated Extended Producer Responsibility (EPR) protocols, with complete traceability from collection to certified recycling facilities across 28 states. This partnership guarantees that environmental promises translate into verified environmental action, with full documentation and compliance at every step of the recycling journey.

      Leadership Voices: Redefining Retail Responsibility The initiative was unveiled at a landmark press conference at Le Méridien, Connaught Place, New Delhi, attended by sustainability advocates, technology leaders, and environmental policymakers.

      Ms. Meghna Singh, CEO, Aptronix, articulated the vision behind this paradigm shift: "We're declaring war on the toxic narrative that retail must choose between profitability and planetary survival. Limitless Aptronix Exchange, powered by Servify, proves that India's consumers are ready to embrace technology upgrades without environmental guilt. By accepting dead devices others reject, we're not just preventing 500,000 gadgets from rotting in landfills; we're igniting a national conversation about conscious consumption. This isn't corporate social responsibility theatre; this is business model transformation. When customers see us plant trees for their broken phones and reward them for doing the right thing, we're encoding sustainability into their upgrade DNA. That behavioral shift will outlive any quarterly sales target." Mr. Sreevathsa Prabhakar, Founder & CEO, Servify, emphasised the technological backbone enabling this vision: "Limitless Aptronix Exchange, powered by Servify, represents the convergence of India's digital infrastructure maturity with its urgent sustainability imperative. Our AI-driven platform doesn't just evaluate devices; it democratizes access to premium technology by finding value where traditional systems see waste. We've engineered transparency into every transaction: customers know exactly what their old devices are worth in 2 minutes, and they know exactly where those devices go afterwards. In partnership with Aptronix and Karo Sambhav, we are not just managing device lifecycles; we are architecting India's first truly circular electronics economy at retail scale. The data insights we are generating will fundamentally reshape how the industry thinks about device residual value and environmental accountability." How Limitless Aptronix Exchange Powered by Servify Works For functional devices, customers can bring up to 10 electronic devices, including smartphones, tablets, laptops, smartwatches, and household electronics from any brand. These devices receive instant AI-powered valuation via Servify technology, with the combined value credited toward any Apple product purchase. The devices then enter certified refurbishment or responsible recycling streams, ensuring maximum lifecycle value extraction.

      For dead or non-functional devices, the program maintains complete acceptance with no device rejected. Each dead device triggers the planting of one tree on the customer's behalf through verified plantation partners, while customers receive gift vouchers as sustainability rewards. All devices undergo 100% EPR-compliant recycling through the Karo Sambhav network, and customers receive a digital certificate documenting their environmental contribution.

      Why This Matters Now India generates 3.2 million tonnes of e-waste annually, ranking third globally, yet recycles less than 10% through formal channels. With smartphone penetration crossing 60% and upgrade cycles shortening to 18-24 months, the nation faces an impending environmental crisis that conventional retail actively accelerates.

      Aptronix's model directly addresses the "drawer problem", an estimated 140 million unused devices sitting idle in Indian homes, by eliminating every barrier to responsible disposal while creating positive economic incentive structures. The program recognises that environmental action shouldn't require sacrifice; instead, it should be rewarded, celebrated, and made as frictionless as possible.

      The Anti-Sales Sales Initiative In perhaps the program's most radical departure from industry norms, Aptronix has publicly committed that Limitless Aptronix Exchange, powered by Servify success metrics, will prioritise environmental KPIs over revenue targets. The company will measure success through e-waste diverted in tonnes, trees planted in absolute numbers, customer participation rate as a percentage of transactions, recycling compliance scores validated by Karo Sambhav certification, and carbon offset achieved in tonnes of CO₂ equivalent.

      Revenue impact, while positive, will be reported as a secondary outcome, fundamentally inverting the typical retail reporting hierarchy. This represents a profound statement about the company's values and a challenge to the industry at large: sustainability cannot be a marketing afterthought or a CSR checkbox. It must be the primary lens through which business success is evaluated.

      A New Chapter for Indian Retail With Limitless Aptronix Exchange powered by Servify, India's largest Apple Premium Partner, isn't just launching a program, it's challenging the entire consumer electronics industry to rethink the relationship between commerce and consequence. The initiative demonstrates that sustainability at scale requires more than good intentions; it demands infrastructure, technology partnerships, radical transparency, and a willingness to prioritise long-term planetary health over short-term commercial metrics.

      As India races toward its 2070 net-zero commitments, initiatives like this demonstrate that sustainable retail isn't about sacrifice; it's about reimagining value itself. When dead devices become trees, when e-waste becomes rewards, and when upgrade transactions become environmental contributions, retail transforms from extraction to regeneration.

      (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR

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