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    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
    India's exports surge 19.6 pc in Jul; trade deficit widens to six-month high
    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
    Ratul Puri: Beyond Low-Cost Power to Clean Energy Reliability
    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
    Compounded annual growth rate of Manufacturing GVA at constant prices (2022-23 base) as per revised series during 2022-23 to 2025-26 is 10.88%
    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
    India and the Southern African Customs Union (SACU) sign Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement
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    August 13, 2026
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    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
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    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
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    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
    August 13, 2026
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    Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
    Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
    August 13, 2026
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    Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
    Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
    August 13, 2026
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    Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
    India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
    August 13, 2026
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    Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
    Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
    August 13, 2026
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    Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
    Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
    August 13, 2026
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    Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
    IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
    August 13, 2026
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    Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
    India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
    August 13, 2026
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    EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
    Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
    August 13, 2026
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    Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
    Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
    August 13, 2026
    Show AI Summary
    Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
    SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
    August 13, 2026
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    Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
    Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
    August 13, 2026
    Show AI Summary
    Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
    NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
    August 13, 2026
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    CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
    CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
    August 13, 2026
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    Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
    India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
    August 12, 2026
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    Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
    Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
    August 12, 2026
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    Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
    Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.

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      News and Press Release

      Employment generation in country

      March 3, 2016

      Contents
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      The Ministry is implementing the scheme of Prime Minister’s Employment Generation Programme (PMEGP) for employment generation in the micro sector.  PMEGP, a credit linked subsidy scheme of Government of India, for setting up of new micro-enterprises to generate employment opportunities in the country through Khadi and Village Industries Commission (KVIC), State Khadi and Village Industries Board (KVIB)  and District Industries Centre (DIC) in rural and urban areas.

      The scheme was introduced in 2008-09 and up to January 2016, 3.50 lakh micro units have been set up by utilizing margin money amounting to ₹ 7004.40 crore.  The total loans disbursed would be around ₹ 28,000 crore (MM subsidy corresponds to average of 25% of the project cost).  29.82 lakh jobs have been created from these units.  During the current FY 2015-16, an allocation of ₹ 1265.68 crore is available, which will be utilized for setting up of about 60,000 micro units providing employment to about 4.5 lakh persons. Upto 31.01.2016, ₹ 657.84 crore margin money has been utilized for setting up of 29,174 projects and providing employment to 2.11 lakh persons.

      State-wise targets fixed and achievement thereon under PMEGP scheme for employment generation in KVI sector from 2013-14 and 2014-15 is given below:

      State/UT-wise details of Target and Achievement in respect of

      Employment Generation under PMEGP for the years 2013-14 & 2014-15

      Sl. No.

      State/UT

      2013-14

      2014-15

      Target

      Achievement

      Target

      Achievement

      1

      Jammu & Kashmir

      20920

      12301

      20648

      11025

      2

      Himachal Pradesh

      11848

      5188

      11664

      6352

      3

      Punjab

      18816

      7629

      18692

      6438

      4

      Chandigarh (UT)

      1664

      385

      1592

      160

      5

      Haryana

      19640

      5866

      19408

      7024

      6

      Delhi

      7944

      1136

      7880

      1584

      7

      Rajasthan

      35936

      13471

      35160

      15002

      8

      Uttarakhand

      13096

      7335

      12864

      7889

      9

      Uttar Pradesh

      85096

      44044

      82784

      48604

      10

      Chhattisgarh

      22112

      6106

      21488

      5821

      11

      Madhya Pradesh

      54672

      19442

      53472

      21896

      12

      Sikkim

      3984

      255

      3800

      54

      13

      Arunachal Pradesh

      13872

      6570

      13616

      2871

      14

      Nagaland

      11360

      4373

      10768

      2407

      15

      Manipur

      9984

      5277

      9328

      829

      16

      Mizoram

      7744

      5050

      7432

      6736

      17

      Tripura

      6440

      9074

      5680

      6333

      18

      Meghalaya

      8280

      1386

      7656

      3680

      19

      Assam

      36456

      29332

      32984

      15535

      20

      Bihar

      51040

      20013

      49352

      9240

      21

      West Bengal

      26368

      24189

      25392

      24646

      22

      Jharkhand

      29096

      13062

      28288

      8495

      23

      Odisha

      36088

      16653

      35096

      10211

      24

      A & N Islands

      3752

      654

      3640

      790

      25

      Gujarat (*)

      29072

      14777

      28520

      18107

      26

      Maharashtra(**)

      41248

      20183

      40216

      28311

      27

      Goa

      2824

      412

      2728

      406

      28

      Andhra Pradesh

      29104

      18200

      16192

      12220

      29

      Telangana

      0

      0

      12040

      6604

      30

      Karnataka

      30512

      25752

      29984

      21825

      31

      Lakshadweep

      3584

      8

      3360

      93

      32

      Kerala

      14912

      11507

      14608

      9738

      33

      Tamil Nadu

      33096

      29107

      32480

      36190

      34

      Puducherry

      4816

      170

      4680

      386

       

      GRAND TOTAL

      725376

      378907

      703492

      357502

      * including Daman&diu       ** including Dadra & N. Haveli

      In addition to PMEGP, Ministry is implementing a large number of schemes which generate direct and indirect employment.  The Ministry through KVIC and Coir Board is generating employment by implementing the schemes of Market Development Assistance (MDA), Interest Subsidy Eligibility Certificate (ISEC) scheme, Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Coir Udyami Yojana, Development of Production Infrastructure, Skill Upgradation Programmes, Mahila Coir Yojana, establishment of Livelihood Incubation Centres, etc. throughout the country.

      Ministry through National Small Industries Corporation (NSIC) offers industry oriented, demand driven skill development training programmes through its Technical Centres and facilitates the trainees in employment through placement cells located at its Centres.  Entrepreneurship development training programme are also conducted at NSIC Incubation centres to create self-employment opportunities for the unemployed people.

      Total number of Trainees passed from National Small Industries Corporation is as under:

      Year

      Trainees passed (Nos.)

      2013-14

      19353

      2014-15

      21860

      26 Scheme of Fund for Regeneration of Traditional Industries (SFURTI) clusters under Khadi, Village Industries & Coir categories have been granted final approval with a total project cost of ₹ 72 crore benefiting around 25000 artisans. Assistance under SFURTI would be ₹ 54.22 crore.  During the year 2015-16 (upto 31.01.2016) funds of ₹ 20.75 crore has been released.

      Employment targets fixed and achievement (cumulative) of Coir Board are as under:

      Year

      Target (in lakhs)

      Achievement (in lakhs)

      2013-14

      7.50

      7.14

      2014-15

      7.50

      7.18

      No State-wise targets are fixed under Coir Board.

      Under the Assistance to Training Institutions Scheme, targets are annually fixed for conducting training programmes for Entrepreneurship-cum-Skill Development Programmes (ESDPs)/Entrepreneurship Development Programmes (EDPs). The ESPDs/EDPs are aimed at generation of Wage-employment and Self-employment. However, no targets are fixed for generation of employment under the Scheme. During the period FY: 2014-15 and FY: 2015-16 (as on 31.01.2016), 23057 number of trainees were able to get Wage-Employment and 12454 number of trainees were able to get Self-Employment.

      This information was given by the Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh in a written reply to a question in Rajya Sabha here today.

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