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    August 24, 2026
    Rupee falls 3 paise to close at 95.74 against US dollar
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    HSBC INDIA OPENS NEW BRANCH IN NASHIK TO SUPPORT WEALTH EXPANSION
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August 24, 2026
Rupee falls 3 paise to close at 95.74 against US dollar
Show AI Summary
Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
HSBC INDIA OPENS NEW BRANCH IN NASHIK TO SUPPORT WEALTH EXPANSION
Show AI Summary
Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
Commerce and Industry Minister Shri Piyush Goyal Leads A 200-Member Business Delegation to Japan.
Show AI Summary
Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
CBN busts inter-state heroin syndicate in ‘Op Black Hawk’; seizes over 18.6 kg crude heroin - Three members of inter-state trafficking network arrested.
Show AI Summary
Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
Bank unions threaten nationwide strike on Sep 11 to press for 5-day banking, other demands
Show AI Summary
Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
Goyal says India negotiating FTAs with 8-9 more blocs, aims to cover 75 pc of global trade
Show AI Summary
Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
Rupee rises 7 paise to 95.64 against US dollar in early trade
Show AI Summary
Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
Woman passenger from Sharjah held with undeclared gold chain at Ahmedabad airport
Show AI Summary
Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
Delhi: Retired railway employee put under 'digital arrest', duped of Rs 30 lakh; one held
Show AI Summary
Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
CPI(M) accuses ED of ‘politically targeting’ Pinarayi Vijayan in CMRL case
Show AI Summary
Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
ED arrests ex-Andhra minister K Nageswara Rao in liquor transport 'scam'
Show AI Summary
Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
Orris Infrastructure MD Amit Gupta arrested in cheating case
Show AI Summary
Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
In a knot: Surat weaving units take voluntary two-day holiday as yarn prices shoot up
Show AI Summary
Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
Canada will impose retaliatory tariffs on US goods beginning Sept 8 as trade negotiations collapse
Show AI Summary
Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
Trade war between Canada, US deepens rupture in what had been close and durable alliance
Show AI Summary
Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
Canada will impose retaliatory tariffs on US good beginning Sept 8
Show AI Summary
Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.
August 22, 2026
J-K parties oppose hike in power tarrif
Show AI Summary
Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
August 22, 2026
IAS officer Gangwar not ‘missing’, away in UP over father’s health: Karnataka minister
Show AI Summary
Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
Reported absence of an IAS officer was attributed to a family medical emergency and a pending leave request, rather than enforcement searches concerning an alleged recruitment-examination scam. The officer denied any connection with those searches and expressed willingness to face an inquiry. Enforcement searches at the Karnataka Public Service Commission concerned a money-laundering investigation into alleged recruitment irregularities. The State Cabinet decided to advise suspension of the commission chairperson and initiation of an inquiry after an earlier suspension was set aside for lacking the Cabinet's aid and advice.
August 22, 2026
J-K Dy CM terms ED case against his brother 'selective targeting'
Show AI Summary
Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.
August 22, 2026
T'gana HC CJ calls for timely, expert dispute resolution in telecom, broadcasting, airport sectors
Show AI Summary
Specialised dispute resolution requires technical expertise, timely proceedings, mediation support, and human oversight to safeguard natural justice.
Specialised, timely and effective dispute-resolution mechanisms are necessary for technically complex disputes in telecom, broadcasting, airport tariffs and cyber sectors. Technology may assist legal reasoning but cannot replace judicial reasoning, requiring verification, professional responsibility and meaningful human oversight. Effective specialised adjudication should combine domain expertise with judicial discipline, respond to technical complexity, and protect natural justice, transparency and reasoned decision-making. Mediation and other consensual mechanisms can support dispute resolution.

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Income Tax

Facilities for New Start-Ups

November 20, 2019

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Startup India Initiative was launched on 16th January 2016. The Startup India Action Plan with 19 Action Points intends to build a strong eco-system for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Action Plan is divided across the following areas:

  1. Simplification and Handholding
  2. Funding Support and Incentives
  3. Industry- Academia Partnership and Incubation

The incentives being provided to startups under Startup India initiative to overcome their initial hurdles are given below:

  1. Self-Certification under 6 Labour Laws & 3 Environmental Laws
  2. Relaxations in Public Procurement Norms
  3. Faster exit under the Bankruptcy Code
  4. Rebates on Patent & Trademark filing fees, support from facilitators and expedited examination of Patent application
  5. Income Tax exemption under Section 80 IAC of Income Tax Act
  6. Exemption from Income Tax on investments received above fair market value under clause (ii) of the proviso to clause (viib) of sub-section (2) of section 56 of the Income Tax Act
  7. Funding support under the Fund of Funds for startups
  8. Guidance and facilitation support from Startup India Hub

The details of Startups founded all over country is not compiled, however, various initiatives undertaken under Startup India initiative have resulted in increase in recognition of Startups by DPIIT since the launch of the initiative as under: 

Fiscal Year

Number of startups recognized

2016-2017

746

2017-2018

7961

2018-2019

8618

2019-2020 (Till November 5, 2019)

7141

The data on number of startups which are still functional for three years or have failed in three years of their launch is not compiled. As per data self-reported by startups, a total of 3 startups from Pratapgarh have been recognized by DPIIT. List of state-wise and industry-wise startups recognized by DPIIT since the launch of the initiative in 2016 based on data self-reported by startups are at Annexure I and Annexure II, respectively. Product-based data of the recognized startup by DPIIT is not compiled.

 ANNEXURE-I

List of State/UT-wise number of Startups recognized by DPIIT 

State/UT

2016

2017

2018

2019 (Till 5th November 2019)

Andaman and Nicobar Islands

0

1

2

5

Andhra Pradesh

4

103

162

140

Arunachal Pradesh

0

0

2

2

Assam

10

35

68

57

Bihar

1

48

149

135

Chandigarh

9

22

27

32

Chhattisgarh

11

57

121

143

Dadra and Nagar Haveli

0

3

0

2

Daman and Diu

0

1

1

0

Delhi

75

743

1187

1152

Goa

2

20

44

32

Gujarat

29

298

452

514

Haryana

28

271

487

591

Himachal Pradesh

0

9

17

25

Jammu and Kashmir

2

15

48

37

Jharkhand

2

35

88

80

Karnataka

67

886

1213

1374

Kerala

24

172

332

563

Madhya Pradesh

7

107

297

272

Maharashtra

93

1104

1661

1778

Manipur

0

4

7

4

Meghalaya

0

0

2

6

Mizoram

0

0

2

1

Nagaland

1

4

2

2

Odisha

4

115

168

142

Pondicherry

0

3

16

6

Punjab

7

31

70

81

Rajasthan

14

140

246

300

Sikkim

0

1

0

2

Tamil Nadu

54

271

459

489

Telangana

20

328

511

492

Tripura

0

0

4

5

Uttar Pradesh

29

413

791

709

Uttarakhand

4

45

69

84

West Bengal

8

181

275

255

 ANNEXURE-II

List of industry-wise number of startups recognized by DPIIT 

Industry

2016

2017

2018

2019(Till 5th November 2019)

Advertising

0

54

92

89

Aeronautics/Aerospace & Defence

0

24

78

87

Agriculture

0

174

319

427

AI

0

73

218

288

Analytics

0

64

102

106

Animation

0

5

13

12

AR/VR (Augmented + Virtual Reality)

0

40

66

81

Architecture/Interior Design

0

19

52

56

Art & Photography

0

35

32

32

Automotive

0

82

141

158

Chemicals

0

21

41

54

Computer Vision

0

23

33

33

Construction

0

83

212

282

Dating/Matrimonial

0

3

8

11

Design

0

53

105

79

Education

0

313

767

658

Enterprise Software

0

148

249

263

Events

0

22

40

52

Fashion

0

59

111

102

Finance Technology

0

160

237

362

Food & Beverages

0

179

365

450

Green Technology

0

128

274

310

Healthcare & Lifesciences

0

424

768

808

House-Hold Services

0

38

76

78

Human Resources

0

53

149

171

Internet of Things

0

143

265

246

IT Services

0

610

1417

1351

Marketing

0

73

243

226

Media & Entertainment

0

96

166

197

Nanotechnology

0

12

21

20

Non-Renewable Energy

0

12

27

31

Other Specialty Retailers

0

30

66

63

Pets & Animals

0

12

22

24

Professional & Commercial Services

0

190

388

400

Real Estate

0

34

80

95

Renewable Energy

0

142

292

262

Retail

0

116

241

224

Robotics

0

28

71

81

Safety

0

10

27

26

Security Solutions

0

36

87

84

Social Impact

0

37

64

73

Social Network

0

60

82

105

Sports

0

25

40

54

Technology Hardware

0

152

260

286

Telecommunication & Networking

0

53

105

83

Textiles & Apparel

0

61

100

105

Transportation & Storage

0

100

164

216

Travel & Tourism

0

72

199

211

Not Reported

505

1085

5

0

 This information was given by the Minister of Commerce and Industry, Piyush Goyal, in a written reply in the Lok Sabha today.

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