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    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
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    Punjab Assembly passes nine key bills
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    India's Russian crude imports hit record for second straight month
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August 11, 2026
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Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
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Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
August 10, 2026
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MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
August 10, 2026
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Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
August 10, 2026
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Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
August 10, 2026
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Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
August 10, 2026
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Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
August 10, 2026
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Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
August 10, 2026
Show AI Summary
Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
August 10, 2026
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Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
August 10, 2026
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Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
August 10, 2026
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GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
August 10, 2026
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Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
August 10, 2026
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Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
August 10, 2026
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Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.

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Centre to organize the FIRST EVER Startup India Innovation Week from 10th -16th of January 2022.

January 10, 2022

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Centre to organize the FIRST EVER Startup India Innovation Week from 10th -16th of January 2022.

Event to bring together country's key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers etc under one platform to celebrate entrepreneurship and promote innovation

"Startup India Innovation Week"

designed to showcase the spread and depth of entrepreneurship across India.

The Department for Promotion of Industry and Internal Trade (DPIIT) is organizing the first-ever Startup India Innovation Week from 10th -16th of January 2022.  This virtual week-long innovation celebration aims to commemorate the 75th year of India’s independence ‘Azadi Ka Amrit Mahotsav’ and is designed to showcase the spread and depth of entrepreneurship across India.

Interestingly, in the startup world, 2021 has been recognised as the 'year of unicorns,' with 40+ unicorns added in the year.

 India is emerging as a global innovation hub, boasting the world's third-largest startup ecosystem. DPIIT has recognised more than 61,000 startups as on date. Our startups representing 55 industries, spread across 633 districts with at least one startup from every State and UT of the country have created over 6 lakh jobs since 2016. 45% of the startups are from Tier-2 and Tier-3 cities and 45% of them are represented by women entrepreneurs. Startups have the potential to accelerate India's integration into global value chains and create global impact.

This startup and innovation festival's primary goal is to bring together the country's key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and other national/international stakeholders to celebrate entrepreneurship and promote innovation. Furthermore, to exchange knowledge on nurturing startup ecosystems; to develop entrepreneurial ecosystem capacities; to mobilise global and domestic capital for startup investments; to encourage and inspire the youth for innovation and entrepreneurship; to provide market access opportunities to startups; and to showcase high-quality, high-technology, and frugal innovations from India.

With participation of States/UTs and various departments of Government of India, the week-long programme will address key aspects of the startup ecosystem through interactive sessions, workshops, and presentations based on themes such as Academia & Mentorship Support to Startups, Incubation and Acceleration Support to Startups, Market Access through Corporates & Government to Startups, and Funding & International Avenues to Go Global. In addition, based on the identified themes, there will be various parallel activities such as Experience Booths, Pitching or Reverse Pitching Sessions, and Innovation Showcases.

The link to the registration for the event is https://www.startupindiainnovationweek.in

Highlights of the week-long celebration are:

  • Hon’ble Prime Minister’s interaction with startups
  •  Result Declaration of National Startup Awards 2021
  • Launch of Doordarshan Startup Champions 2.0 show
  • Roundtable with Global Investors and domestic funds
  • Launch of Open Network for Digital Commerce Digital Strategy
  • Participation by Ministry of Education, Niti Aayog, Office of PSA, DBT, DST, MeitY, Ministry of Defence and Ministry of Social Justice and Empowerment, among other departments, in various sessions.
  • Launch of ‘Fisheries Startup Grand Challenge’ by Department of Fisheries
  • Pitching sessions and corporate connect programs for startups from across the country.

Key Day wise highlights of the week long celebration are:

Day 1 (10th January)

The week-long event will be launched on Day 1, 10th January 2022 by Hon’ble Minister of Commerce & Industry, Shri Piyush Goyal in presence of Hon’ble Ministers of State for Commerce & Industry Shri Som Prakash and Smt. Anupriya Patel. Other eminent speakers during the inaugural session will include

  • Shri Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade
  • Shri Sanjeev Bikhchandani, Founder & Executive Vice Chairman, Info Edge India Ltd
  • Shri Abhiraj Singh Bhal, Co-Founder & CEO, Urban Company.

Day 1 will also host a Panel Discussion on “Transforming Businesses Through Co-Creation" with speakers like

  • Dr. Rajesh S. Gokhale, Secretary, Department of Biotechnology
  • Shri Ajay Kumar, Secretary, Department of Defence Production
  • Shri Kris Gopalakrishnan, Chairman, Axilor Ventures
  • Shri Aditya Natraj, CEO, Piramal Foundation
  • Shri Sanjeev Kapoor, Celebrity Chef, Entrepreneur & Television Personality
  • Smt. Shobana Kamineni, Executive Vice Chairperson, Apollo Hospitals.

Sessions by Ministry of Social Justice and Empowerment and Open Network for Digital Commerce will also be organised on Day 1.

Day 2 (11th January) 

Day 2 will be coordinated by All India Council for Technical Education (AICTE) and cover sessions on innovation, human values and sustainability and highlight innovation practices in higher education institutes. The Inaugural Ceremony of Day 2 will host addresses from esteemed stakeholders such as

  • Smt. Anita Karwal, Secretary, Department of School Education & Literacy
  • Shri K. Sanjay Murthy, Secretary, Department of Higher Education
  • Dr. Abhay Jere, Chief Innovation Officer, Innovation Cell, Ministry of Education, Government of India.

Keynote addresses will be shared by Shri Sridhar Vembu, Founder, ZOHO Corporation as well as Shri Gautam, Founder, FarEye Pvt. Ltd.

Several panel discussions will be undertaken on “Innovation, Human Values, and Sustainability” and “Best Innovation & Startup Practices in Higher Education Institutions”. Panel discussions will host eminent speakers such as

  • Shri Harshit Rathore, Co-Founder & CEO, Naccarc Robotics
  • Shri Vikash Mittersain, Founder & Managing Director, Nazara Technologies
  • Shri Shrikant Badve, Managing Director, Badve Industries
  • Prof. Abhay Karandikar, Director, IIT Kanpur
  • Prof. AB Pandit, Vice Chancellor, ICT Mumbai.

Moreover, moderators of the sessions will include key stakeholders in the innovation landscape such as Prof. Anil D Sahasrabudhe, Chairman, AICTE and Dr. K. Radhakrishnan, Ex-Chairman, ISRO.

Day 3 (12th January)

Day 3 of this week-long event will also be coordinated by All India Council for Technical Education (AICTE) and cover sessions on academia and mentorship support for the startups and student entrepreneurs.  This day will witness keynote address from eminent speakers such as

  • Prof. K VijayRaghavan, Principal Scientific Adviser, Government of India
  • Shri. Ankit Agarwal, Founder & CEO, Phool.co
  • Smt. Arundhati Bhattacharya, Chairperson & CEO, Salesforce.

Several panel discussions will also be conducted on Day 3 on interesting topics such as “Grey Hair Not Mandatory to Build Great Enterprises” and “Schools, Innovation, Games and Curriculum”. Day 3 will also mark the closing of the two-day AICTE programme with a concluding ceremony. The closing will be in presence of eminent dignitaries such as

  • Dr. Rajkumar Ranjan Singh, Hon’ble Minister of State for Education
  • Dr. Subhas Sarkar, Hon’ble Minister of State for Education
  • Smt. Annapurna Devi, Hon’ble Minister of State for Education
  • Prof. Rajive Kumar, Member Secretary, AICTE
  • Prof. M. P. Poonia, Vice Chairman, AICTE
  • Dr. Abhay Jere, CIO, MIC.

Day 4 (13th January)

A Global Venture Capital Roundtable will be held and Chaired by Hon’ble Minister of Commerce and Industry. Additionally, the day will cover sessions on Indian Incubator Landscape and Incubator capacity building, Startup Pitching and several workshops on “Funding Avenues, financing support by banks, Govt. market access”. This day will also mark the launch of Fisheries Startup Grand challenge. Key highlights also include experience sharing fireside chat by Shri Deep Kalra, Founder, MakeMyTrip. A knowledge sharing session on best practices by 5 states in market access, incubation, and funding, will also be conducted. Eminent speakers for the day include

  • Shri Parshottam Rupala, Hon’ble Minister of Fisheries, Animal Husbandry & Dairying
  • Dr. Chintan Vaishnav, Mission Director, Atal Innovation Mission
  • Shri Rajan Anandan, Managing Director, Sequoia Capital
  • Shri Sanjeev Kaushik, Senior Vice President, Retail Branch Banking, HDFC
  • Shri Prakash Jaiswal, Vice President, Corporate Banking, HSBC
  • Mr. Srinivas Ramanujam, CEO, Villgro,
  • Shri Yashish Dahiya, CEO, PolicyBazaar.

Day 5 (14th January)   

Day 5 will cover key events such as launch of ONDC Digital Strategy (Open Network for Digital Commerce), panel discussion focussing on women entrepreneurship, startup pitching sessions, workshop on expansion strategies and fireside chats highlighting global market entry strategies and technology commercialization. Eminent speakers across sessions will include

  • Prof. K. Vijay Raghavan, Principal Scientific Advisor, Government of India
  • Shri Amitabh Kant, CEO, NITI Aayog
  • Shri Nandan Nilekani, Non-Executive Chairman, Infosys
  • Smt. Gazal Kalra, Co-Founder Rivigo
  • Smt. Padmaja Ruparel, Co-Founder Indian Angel Network
  • Shri Phalgun Kompalli, Co-Founder, UpGrad
  • Shri Rahul Garg, Founder & CEO, Moglix
  • Shri. Manoj Kohli, Country Head, Softbank and
  • Shri Prashant Tandon, Co-founder & CEO, 1MG.

Day 6 (15th January) 

On this day, Prime Minister Shri Narendra Modi is expected to interact with startups and address Startup India Innovation Week at 10.30 am via video conferencing in closed-door event. For this interaction, 150+ startups have been divided into six working groups based on themes such as “Growing from Roots; Nudging the DNA; From Local to Global; Technology of Future; Building Champions in Manufacturing; and Sustainable Development. The aim of the interaction is to understand how startups can contribute to the national needs by driving innovation in the country and how government can assist them with the same. This day will also include the announcement of winners of National Startup Awards 2021, recognizing outstanding startups and ecosystem enablers that are building scalable enterprises, with high potential of employment generation, wealth creation, and social impact. The event will be graced by Shri Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles. The event will also be graced by other senior dignitaries such as

  • Shri Som Parkash, Hon'ble Minister of State for Commerce & Industry
  • Smt. Anupriya Singh Patel, Hon'ble Minister of State for Commerce & Industry
  • Shri Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade.

Day 7 (16th January) 

The last day of the week-long celebration will include events such as Corporate Connect for Startups, Panel discussions on the ONDC’s Made in India approach to drive inclusion, innovation & scale in Public Digital infrastructure and Urban Innovation via collaboration between Startups and Smart Cities Mission. Eminent speakers addressing various events on the last day will include

  • Shri Avnish Sabharwal, MD, Accenture Ventures
  • Smt. Sruthi Kannan, Head, CISCO Launchpad
  • Smt. Debjani Ghosh, President, NASSCOM and
  • Shri Suresh Sethi, CEO, Protean eGov.

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