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    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
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August 22, 2026
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Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
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Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
Show AI Summary
Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.

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Address to the Nation by the President of India, H.E. Smt. Pratibha Devisingh Patil on the eve of the 65th Independence Day

August 15, 2011

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Following is the text of the President of India, Smt. Pratibha Devisingh Patil’s address to the Nation by on the eve of the 65th Independence Day:

"Dear Citizens,

As I speak to you on the eve of our 65th Independence Day, I extend my warmest greetings to all of you living in India and overseas.  To the members of our Armed Forces and Para-military forces who guard our frontiers, and our internal security forces, I extend special greetings. 

This significant day in our nation’s calendar takes us back to the events that made our country, a free nation.  It is to Mahatma Gandhi - the Father of our Nation, to all the other leaders of our freedom movement, and to the millions of people of our country, who fought with bravery and courage, that we pay homage. Our independence was won on the principles of truth and non-violence. It is this, as well as the transformational impact it had in other parts of the world, that makes our freedom struggle exceptional.  In Asia and in Africa, voices of freedom against oppression and colonial power, were encouraged by India’s example.  We can be proud that we all belong to a country that has proved its greatness through values, which have found such a wide resonance.  We, as the inheritors of that great legacy, carry a responsibility to stand by truth and justice; to continue to conduct ourselves, in a manner that is in consonance, with India’s standing, as a progressive and responsible country, where values of democracy, harmony and tolerance are deeply embedded.

                Today, our nation stands at a threshold.  There are important issues on which we must focus, and as we do so, keep in mind that these are times, when we should also be on our guard, about not straying away from our main objective, of strengthening the nation in its many aspects.  This is a time for introspection, a time to take well thought out measures, and to prepare well for the future.  There have been occasions earlier, when confronted with many questions, we did find answers.  The real strength of a nation is judged not by the challenges it faces, but by its responses.  Therefore, as we analyze, make policies, legislate, implement schemes and enforce laws, we must not, forget that the purpose of all our efforts is to move on the path of progress while ensuring that morals and ethics in our society do not get eroded.

                India is the world’s largest democracy. The country has performed well economically with a growth rate of 8.6 percent last year.  We are committed to the welfare of all and are pursuing an inclusive growth agenda. There is much promise, much potential, much hope and much optimism about our future prospects.  I point this out so that, as we deal with the challenges, we should not be unmindful of either our achievements; or of our past; or the principles on which our freedom, Constitution and democracy rest; or very importantly, of our future.  Our actions today, our decisions today, will fashion our tomorrow.  A deep sense of responsibility is a call of our times.  All institutions and all citizens, have to demonstrate great maturity and, if I may say so, a degree of self-restraint, as we deal with our problems.

Corruption is a cancer affecting our nation’s political, economic, cultural and social life. It is necessary to eliminate it.  Government, Parliament, Judiciary and society at large, should ponder about this, and find out ways to handle it in a manner that is practical, implementable and sustainable.  There cannot be just one panacea or remedy to deal with it, but a system of transparency and accountability should be put in place at various levels, and, then, effectively enforced. It would require preventive and punitive measures, as well as adoption of rational approaches as we pursue the anti-corruption agenda.  India is known for its sobriety and wisdom, balanced and sensible thinking.   As is said in one of our shlokas, “अति सर्वत्र वर्जयेत ”, which means that anything in extreme should be avoided.   We need strong institutions and we need good governance in the country.  Our institutions need to be fortified and our governance constantly improved. We should analyze the situation and find considered solutions to address the challenges we are facing in a thoughtful manner. 

                As we look at our past performance, we can draw strength from the fact, that the framework of our Constitution has served us well.  The institutions created by it - the Executive, the Legislature and the Judiciary - have been stable and have achieved much.  The separation of powers, the elaborate system of checks and balances, have given our country a governance structure in which equilibrium is maintained, when every institution respects the field of responsibility of the others.  Credibility of institutions depends upon their conduct, which must be in accordance with the constitutional framework. We should strengthen them and their ability to take corrective actions, whenever required.  There should be no effort, consciously or otherwise, that will lead to the erosion of institutional credibility and authority.

Dear Citizens,

Parliament represents people from all parts of our country and a broad spectrum of political thought. Its legislation is an outcome of collective thinking and application of minds. Many path-breaking laws have been made by the Parliament of our country.  New laws will also be formulated by legislative bodies.  There can be discussions, debates, discourses among the people of the country for public opinion to emerge, which is an essential input in a true democracy. The different shades of opinion should be channelized, through elected representatives for the formulation of necessary legislation.  We should not forget that we have to preserve the democratic values of our country and, for this, healthy conventions of parliamentary procedures should be upheld. Members of Parliament can contribute immensely to issues of national development.  There are several instances of commendable initiatives being taken by our elected representatives, including one where young Parliamentarians in the country have come together, cutting across all party lines, to work on malnutrition. I appreciate these initiatives. There is possibility of other such issues which could be collectively addressed by Parliamentarians belonging to all political parties.

Moreover, I strongly feel good electoral practices are linked with a strong functional democracy. Various proposals have been made, from time to time, to reform the electoral process, including on State funding of elections and debarring the participation of criminals in elections.  These should be examined early for adoption as a part of our efforts to further enhance the healthy functioning of our democracy and to cleanse the system.

Dear Citizens,

The Census has just been completed in our country.  We are now a nation of 1.2 billion, constituting about a sixth of the global population. We will reap a demographic dividend, only when our population is educated and equipped with the necessary skills.  This entails a focus on education and skill development, to build their capacities to meet the requirements of the nation.  They can add immensely to India’s economy - in the service sector, cutting edge technologies, manufacturing, industry, and agriculture. We are a country shaped by the experiences, sacrifices and hard work of our citizens.   Indians have shown tremendous enterprise and there are many success stories.  They have earned goodwill for the country wherever they are working or they are settled.  They have done us proud.  Moreover, we must inculcate respect for pluralism, harmonious living and compassion, all of which are a part of our legacy of always upholding the highest human values. 

 

The underlying purpose of our work is to provide to all citizens, opportunities of progress and to eradicate poverty, hunger, disease and illiteracy. I have always said that, it is a growing Gross Domestic Product along with the welfare of the people, that are the twin pillars of a progressive nation. Today, anti-poverty programmes, social welfare schemes, and a commitment to ensure food security, form the core of our inclusive agenda strategy.  There are also a host of special economic packages for the under-developed regions of our nation. Welfare schemes create an entitlement for individuals belonging to identified groups.  Delivering the benefits to them is our duty and lack of delivery, a failure. Government efforts need to be supported by voluntary agencies, NGOs and, indeed, by citizens themselves who can be development partners of the Government. Implementation needs to be done in a transparent manner and by creating accountability and integrity in functioning. The country cannot afford the loss of resources meant for its development.  

We must persist with our efforts to bridge differentials in economic growth in the country. 68 percent of our population continues to reside in rural areas with a majority dependent on agriculture. Yet, agriculture is one area where we are yet to reach full potential.  We need a model to revolutionalize agriculture, from the time when agricultural operations start, till harvest is reaped and beyond, where post-harvest processing aspects are addressed.  Institutions linked to making available credit, seeds, fertilizers and pesticides, have to be pro-active and work in co-ordination with each other.  There should be greater use of technology in the agricultural sector to enhance productivity. Also, issues and problems relating to dry land farming, including labour shortage require to be addressed in a focused manner. We may need to examine whether existing rural employment programmes, can be utilized for agricultural land of farmers, whether small holders or otherwise, in rainfed areas.  This will help to stabilize agriculture in these areas.  At the same time, warehousing and cold storage facilities for agricultural produce in the country require to be augmented. Decentralized warehousing will make food distribution not only easier and quicker, but it would be a low cost option that also cuts on wastage during transportation. I have on several occasions called on the corporate sector, as well as small and medium enterprises to seriously engage with agriculturists and farmers, particularly in the rainfed areas, to avail of the many opportunities of working together for mutual benefit.  Let the public sector entities take the lead in this regard.  The integration of agriculture with the other sectors of the economy would not only be useful for agriculture, but would generate positive impulses in other sectors as well.

                Our Census sadly shows that there has been a decline in the gender ratio in the 0 to 6 age group.  It has touched a low level of 914 girls as compared to a 1000 boys.  It reflects the continuing preference of boys in our society and the bias against the girl child. We need to fight social prejudices which have resulted in this situation, and also work to eradicate the practices of dowry, child marriage and female foeticide, which we are continuing to battle even in the 21st Century.  Let each citizen of the country vow to fight these social evils.  There are laws against them but we need to ensure compliance and create awareness.  Moreover, crime against women needs to be dealt with most sternly.  Women and men are the two wheels of the chariot of the nation and both need to be strong. Women have tremendous capabilities and capacities to contribute in any field, when given an opportunity.  We have seen the success of the movement of the Self Help Groups in our country.  Eighty percent of them are all-women groups.  They operate at the lower rung of the economic strata and carry out activities on a limited scale.  These groups have provided women not only with possibilities of income generating activity, but have given them confidence and a sense of self-esteem. Government should pro-actively take measures to universalize this movement, which will be beneficial to our agenda of women’s empowerment. 

Dear Citizens,

Events of far reaching consequences are taking place in the world. In a globalised world, these developments have ramifications beyond borders.  We are all aware of the consequences of the global financial meltdown of 2008. Uncertainty is again confronting the world economy, and would need to be tackled through co-ordinated global action, as also by suitable precautionary measures in our country.  Our economy has fundamental strength and resilience, and its large domestic market can help it maintain steady growth rates. However, price rise is an issue engaging our attention, and would have to be dealt with.  Rising prices affects families and especially those of our fellow citizens living below the poverty line.  Efforts must be made to find ways and means to soften the impact of inflation, so that the benefits of growth are not blunted.

Also, we are all aware of the threats that terrorism is posing to peace everywhere.  The attack in Mumbai last month is yet another grim reminder of the destruction that can be caused by terrorism.  We need to be ever-vigilant, to fight this menace which is a global phenomenon. 

Dear Citizens,

I recall the words of Swami Vivekanand, “this national ship of ours my countrymen, has been plying for ages, carrying civilization and enriching the whole world with its inestimable treasures.” Dear Citizens, the challenge for us, is how effectively we carry forward the nation from now onwards.  Let history be the judge that during our time, we found the right answers to the challenges we faced, and acquitted ourselves with dignity and continued to work with unity, to build the India of our dreams.  

Dawn will break tomorrow and our flag will flutter.  Whatever task you are doing in the interest of the country  is important, and I call on all citizens to pledge, that they will work with full commitment and dedication, honesty and integrity and with a sense of pride.  If we do this, there is much that we will be able to achieve as a nation.

With these words, I wish all citizens the very best on the occasion of Independence Day.

 

Jai Hind!"

 

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