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    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
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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.
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.
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
Show AI Summary
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
Show AI Summary
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.
August 5, 2026
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Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
August 5, 2026
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Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.

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Customs & Trade

India LPG flows continue as tanker crosses Hormuz, Iranian cargo reaches Mangalore

April 4, 2026

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New Delhi, Apr 4 (PTI) An Indian LPG tanker carrying roughly half a day's cooking gas supply has successfully crossed the war-hit Strait of Hormuz, while another vessel from Iran has reached the port of Mangalore, signalling continued fuel inflows despite regional disruptions.

"LPG vessel Green Sanvi has safely transited the Strait of Hormuz, carrying 46,650 tonnes of LPG cargo with 25 seafarers on board," a government statement giving an update on West Asia developments said Saturday.

Green Sanvi is the seventh Indian-flagged LPG tanker to have transited the strategic waterway, which has remained effectively shut since the US and Israel launched attacks on Iran on February 28 and Tehran's sweeping retaliation.

Separately, an LPG cargo from Iran has arrived at Mangalore and is being discharged, according to the statement.

This perhaps is the first purchase of Iranian energy in seven years.

"LPG vessel Sea Bird carrying around 44,000 tonnes of Iranian LPG berthed at Mangalore, India on April 2 and is currently discharging," the Ministry of Petroleum and Natural Gas said in a post on X.

The purchase follows United States last month waiving sanctions on Iranian oil 'Œand refined products temporarily to ease prices that have skyrocketed since the start of the Middle East conflict.

After the passage of Green Sanvi, 17 Indian flagged vessels remain stranded on the west side of the strait.

Earlier this week, two LPG carriers, BW TYR and BW ELM, carrying combined LPG cargo of about 94,000 tonnes have safely transited the region. While BW TYR reached Mumbai on March 31, BW ELM docked at New Mangalore on April 1.

Prior to that, four Indian-flagged LPG tankers had safely sailed through the strait. Pine Gas and Jag Vasant, carrying 92,612 tonnes of LPG, reached Indian ports between March 26 and March 28. MT Shivalik and MT Nanda Devi, carrying about 92,712 tonnes of LPG, had reached Mundra port in Gujarat on March 16 and Kandla port in the state on March 17, respectively.

For a country that relies on imports from the Gulf nations to meet as much as 60 per cent of its cooking gas needs, the arrivals will help ease the worst LPG shortage it is battling in decades. India consumed 33.15 million tonnes of LPG last year, with imports accounting for about 60 per cent of demand. As much as 90 per cent of those imports came from the Middle East.

The US and Israel attacks on Iran and Tehran's sweeping retaliation have all but halted shipping through the strait - the narrow shipping lane that is the conduit for oil and gas exports from Gulf countries to the world. Iran has, however, stated that "non-hostile vessels" may transit the waterway after coordinating with Iranian authorities.

Originally, there were 28 Indian-flagged vessels in the Strait of Hormuz when the war in West Asia broke. Of these, 24 were on the West side of the Strait and four on the East side. Seven vessels from the west side and two from east have managed to sail to safety.

Besides the seven LPG tankers, the Indian-flagged oil tanker Jag Laadki, with 80,886 tonnes of crude oil from the UAE, reached Mundra on March 18.

Another tanker, Jag Prakash, carrying gasoline from Oman to Africa, had previously safely crossed the strait and is en route to Tanzania.

LPG carriers Jag Vikram and Green Asha are still in the western Strait of Hormuz. One empty vessel is being filled with LPG.

The statement said all Indian seafarers in the Gulf region are safe and maritime operations remain unaffected, with no incidents involving Indian-flagged vessels reported in the past 24 hours.

The Ministry of Ports, Shipping and Waterways said it is closely monitoring shipping movements, port operations and the safety of Indian crews, while ensuring continuity of trade amid tensions in the region.

The 17 Indian-flagged vessels with about 460 Indian seafarers remain in the western Persian Gulf region and are being tracked by authorities, including the Directorate General of Shipping (DG Shipping), in coordination with ship owners and Indian missions, it said.

The DG Shipping control room, operating round-the-clock, has handled more than 5,000 calls and over 10,000 emails since activation, including 31 calls and 129 emails in the past 24 hours. Authorities have also facilitated the repatriation of over 1,320 Indian seafarers so far, including 190 on the last day.

Port operations across India remain normal with no congestion reported, with maritime boards across key coastal states confirming smooth functioning. PTI ANZ MR

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