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    August 18, 2026
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    Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
    Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.
    August 18, 2026
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    Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning.
    Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
    August 18, 2026
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    Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation.
    India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.
    August 18, 2026
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    Youth banking outreach promotes campus engagement, financial awareness, responsible credit discipline and long-term access to formal banking services.
    Public sector banks are urged to conduct a month-long "Banking for Youth" outreach campaign from 2 October 2026 for persons above 16 years of age. Outreach through educational and skill-development campuses should combine account opening, financial awareness and direct engagement. Banks should develop tailored youth strategies to build long-term banking relationships. Proposed measures include online learning content, lifestyle-linked benefits, dedicated youth banking support, and awareness of credit scores, credit products and government credit schemes. A dedicated youth banking-awareness portal may serve as a single access point for appropriate banking services and financial opportunities.
    August 18, 2026
    Show AI Summary
    Competition approval for Prudential's acquisition of equity shareholding in an Indian life insurer supports the proposed insurance-sector combination.
    Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.
    August 18, 2026
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    Suspicious foreign remittance verification targets shell entities and requires accountants to conduct diligent taxability checks before certification.
    Verification of suspicious outward foreign remittances focuses on entities with little or no reported business activity, their controllers, and accountants issuing tax-determination certificates. Scrutiny addresses remittances disproportionate to reported turnover, non-filers, entities not operating from declared addresses, and payments whose stated purposes appear inconsistent with reported activity. Form 15CB/Form 146 certification requires accountants to examine taxability through books of account and relevant documentation, validating tax deduction at source and applicable treaty compliance. Accountants must exercise due care, diligence and professional judgment before certifying remittances.
    August 18, 2026
    Show AI Summary
    Fair Price Shop regulation introduces graded stock-shortage penalties, mandatory FIRs for major discrepancies, and restructured licensing requirements.
    Fair Price Shop regulation introduces quantity-based penalties for stock discrepancies, ranging from performance-guarantee forfeiture and replenishment obligations to interim suspension, cancellation-related action and mandatory FIR registration for major shortages. Repeated or deliberate diversion or manipulation of public distribution supplies may lead to cancellation, blacklisting and FIR registration. Licensing now includes continuing regular licences and short-term temporary licences, with wider eligibility, points-based selection, card-linked performance guarantees and compulsory approved e-PoS, weighing-scale and iris-scanner use.
    August 18, 2026
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    Priority sector lending strengthened rural credit access through agricultural, micro-enterprise and weaker-section finance, reinforcing financial inclusion and sustainable development.
    Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.
    August 18, 2026
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    Adjustable pallet racking systems support customised, scalable warehouse storage through configurable layouts, safety assessment, installation and lifecycle support.
    Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.
    August 18, 2026
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    Domestic consumption expansion targets lower-tier markets through improved retail channels, distribution networks, employment support and household income opportunities.
    China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.
    August 18, 2026
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    Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations.
    Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
    August 18, 2026
    Show AI Summary
    Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions.
    Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
    August 18, 2026
    Show AI Summary
    Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
    Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
    August 18, 2026
    Show AI Summary
    Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
    Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
    August 18, 2026
    Show AI Summary
    Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
    Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
    August 18, 2026
    Show AI Summary
    Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
    Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
    August 18, 2026
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    Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
    CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
    August 18, 2026
    Show AI Summary
    EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
    EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
    August 18, 2026
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    Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
    Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
    August 18, 2026
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    Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.

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      Gross and Net GST revenue collections for the month of Aug, 2024

      September 2, 2024

      Contents
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      GST Gross and Net Collections (Amount in crores) -- August 2024

       

      Monthly

      YTD

      GST Collections

      Aug 2023

      Aug 2024

      % Growth

      Aug 2023

      Aug 2024

      % Growth

      A

      B

      C

      D = C/B-1

      E

      F

      G = F/E-1

      A.1. Domestic

            

      CGST

       28,328

       30,862

       

      1 ,55,965

      1 ,72,130

       

      SGST

       35,794

       38,411

       

      1 ,94,949

      2 ,13,219

       

      IGST

       39,701

       44,593

       

      2 ,19,426

      2 ,50,999

       

      CESS

       10,679

       11,120

       

       54,046

       58,691

       

      Gross Domestic Revenue

      1,14,503

      1,24,986

      9.2%

      6,24,385

       6,95,038

      11.3%

      A.2. Imports

            

      IGST

       43,550

      49,028

       

       2,00,568

      2,13,783

       

      CESS

      1,016

      948

       

       4,842

       5,034

       

      Gross Import Revenue

       44,566

       49,976

      12.1%

      2 ,05,411

      2 ,18,817

      6.5%

      A.3. Gross GST Revenue(A.1+A.2)

            

      CGST

       28,328

       30,862

       

      1,55,965

      1,72,130

       

      SGST

       35,794

       38,411

       

      1,94,949

      2,13,219

       

      IGST

       83,251

       93,621

       

      4,19,994

      4,64,782

       

      CESS

       11,695

       12,068

       

       58,888

       63,725

       

      Total Gross GST Revenue

      1,59,069

      1,74,962

      10.0%

      8,29,796

      9,13,855

      10.1%

      B.1. Domestic Refunds

            

      CGST

       2,339

          3,618

       

       13,544

       14,287

       

      SGST

       2,881

          4,405

       

       16,681

       17,884

       

      IGST

        3,593

          5,826

       

       24,349

       22,475

       

      CESS

       147

        449

       

       887

         1,386

       

      Refund - Domestic

          8,961

       14,298

      59.6%

       55,461

       56,032

      1.0%

      B.2. Export IGST Refunds

            

      IGST

          8,623

       10,074

       

       41,465

       50,658

       

      CESS

          140

        88

       

         726

      690

       

      Refund - Exports

          8,762

       10,162

      16.0%

         42,190

        51,348

      21.7%

      B.3. Total Refund (B.1+B.2)

            

      CGST

          2,339

          3,618

       

         13,544

       14,287

       

      SGST

          2,881

          4,405

       

       16,681

       17,884

       

      IGST

       12,216

       15,901

       

       65,814

       73,133

       

      CESS

      287

      537

       

          1,613

          2,075

       

      Total Refund

       17,723

       24,460

      38.0%

       97,651

      1,07,380

      10.0%

      C.1 Net Revenue Domestic (A.1 - B.1)

            

      CGST

       25,989

       27,244

       

      1,42,422

      1,57,843

       

      SGST

       32,913

       34,006

       

       1,78,267

       1,95,334

       

      IGST

       36,108

       38,767

       

        1,95,077

        2,28,524

       

      CESS

       10,532

       10,671

       

       53,159

       57,305

       

      Net Domestic Revenue

      1,05,542

      1,10,688

      4.9%

      5,68,924

      6,39,006

      12.3%

      C.2 Net IGST Revenue  (A.2 - B.2)

            

      IGST

       34,928

       38,954

       

       1,59,103

      1,63,125

       

      CESS

      876

      860

       

          4,117

          4,344

       

      Net IGST  Revenue

       35,804

       39,814

      11.2%

       1,63,220

       1,67,470

      2.6%

      C.3 Net Revenue (C.1+C.2))

            

      CGST

       25,989

       27,244

       

      1,42,422

      1,57,843

       

      SGST

       32,913

       34,006

       

      1,78,267

      1,95,334

       

      IGST

       71,036

       77,720

       

      3,54,180

      3,91,649

       

      CESS

       11,408

       11,531

       

       57,275

       61,649

       

      Total Net GST Revenue

      1,41,346

      1,50,501

      6.5%

      7,32,144

      8,06,475

      10.2%

      Note : The above numbers are provisional and the actuals number may have slightly vary on finalisation

      Table 1: State-wise growth of GST Revenues during August, 2024 1

      State/UT

      Aug-23

      Aug-24

      Growth (%)

      Jammu and Kashmir

       523 

       569 

      9%

      Himachal Pradesh

       725 

       827 

      14%

      Punjab

      1,813 

      1,936 

      7%

      Chandigarh

       192 

       244 

      27%

      Uttarakhand

      1,353 

      1,351 

      0%

      Haryana

      7,666 

      8,623 

      12%

      Delhi

      4,620 

      5,635 

      22%

      Rajasthan

      3,626 

      3,820 

      5%

      Uttar Pradesh

      7,468 

      8,269 

      11%

      Bihar

      1,379 

      1,491 

      8%

      Sikkim

       319 

       326 

      2%

      Arunachal Pradesh

         82 

         74 

      -10%

      Nagaland

         51 

         42 

      -18%

      Manipur

         40 

         56 

      38%

      Mizoram

         32 

         28 

      -13%

      Tripura

         78 

         85 

      9%

      Meghalaya

       189 

       155 

      -18%

      Assam

      1,148 

      1,353 

      18%

      West Bengal

      4,800 

      5,077 

      6%

      Jharkhand

      2,721 

      2,850 

      5%

      Odisha

      4,408 

      4,878 

      11%

      Chhattisgarh

      2,896 

      2,611 

      -10%

      Madhya Pradesh

      3,064 

      3,438 

      12%

      Gujarat

      9,765 

         10,344 

      6%

      Dadra and Nagar Haveli and Daman & Diu

         325 

         320 

      -1%

      Maharashtra

         23,282 

         26,367 

      13%

      Karnataka

         11,116 

         12,344 

      11%

      Goa

       509 

       531 

      4%

      Lakshadweep

       3 

       2 

      -44%

      Kerala

      2,306 

      2,511 

      9%

      Tamil Nadu

      9,475 

         10,181 

      7%

      Puducherry

       231 

       234 

      1%

      Andaman and Nicobar Islands

         21 

         27 

      29%

      Telangana

      4,393 

      4,569 

      4%

      Andhra Pradesh

      3,479 

      3,298 

      -5%

      Ladakh

         27 

         33 

      23%

      Other Territory

       184 

       199 

      8%

      Center Jurisdiction

       193 

       288 

      49%

      Grand Total

       1,14,503 

       1,24,986 

      9%

       

       Table-2: SGST & SGST portion of IGST settled to States/UTs till August, 2024 (Rs. in crore)

       

        Pre-Settlement SGST

      Post-Settlement SGST2

      State/UT

      Aug-23

      Aug-24

      Growth

      Aug-23

      Aug-24

      Growth

      Jammu and Kashmir

      1,284 

      1,289 

      0%

      3,457 

       3,717 

      8%

      Himachal Pradesh

        1,130 

       1,172 

      4%

      2,415 

       2,604 

      8%

      Punjab

        3,555 

       3,890 

      9%

       9,052 

       9,464 

      5%

      Chandigarh

        284 

      316 

      11%

          929 

      950 

      2%

      Uttarakhand

        2,202 

       2,507 

      14%

      3,444 

       3,880 

      13%

      Haryana

        8,304 

       9,664 

      16%

       14,403 

        16,251 

      13%

      Delhi

        6,430 

       7,342 

      14%

       13,300 

        14,804 

      11%

      Rajasthan

        7,167 

       7,569 

      6%

       16,060 

        17,479 

      9%

      Uttar Pradesh

      13,552 

        15,146 

      12%

       30,822 

        35,512 

      15%

      Bihar

        3,444 

       3,768 

      9%

       10,723 

        11,768 

      10%

      Sikkim

        237 

      165 

      -31%

          486 

      410 

      -16%

      Arunachal Pradesh

        306 

      263 

      -14%

      882 

      811 

      -8%

      Nagaland

        131 

      125 

      -5%

          455 

      451 

      -1%

      Manipur

        148 

      181 

      23%

          486 

      537 

      11%

      Mizoram

        132 

          138 

      5%

      425 

      428 

      1%

      Tripura

        223 

      227 

      2%

          667 

      739 

      11%

      Meghalaya

        269 

          268 

      0%

      737 

      772 

      5%

      Assam

        2,458 

      2,709 

      10%

      6,085 

       6,494 

      7%

      West Bengal

      10,062 

       10,313 

      2%

       17,637 

        18,825 

      7%

      Jharkhand

        3,824 

       3,719 

      -3%

      5,152 

       5,845 

      13%

      Odisha

        6,870 

       7,816 

      14%

       9,218 

       11,156 

      21%

      Chhattisgarh

        3,505 

       3,674 

      5%

       5,484 

       6,162 

      12%

      Madhya Pradesh

        5,334 

       5,783 

      8%

       13,139 

        14,906 

      13%

      Gujarat

      17,439 

        18,925 

      9%

       26,870 

        29,423 

      10%

      Dadra and Nagar Haveli and & Diu

       268 

         317 

      18%

         471 

         517 

      10%

      Maharashtra

      42,053 

        46,588 

      11%

        61,783 

        69,274 

      12%

      Karnataka

      16,628 

        18,631 

      12%

       30,369 

        33,330 

      10%

      Goa

        945 

       1,068 

      13%

       1,670 

       1,770 

      6%

      Lakshadweep

      14 

       3 

      -82%

       56 

        39 

      -31%

      Kerala

        5,819 

       6,034 

      4%

       13,080 

        13,252 

      1%

      Tamil Nadu

      16,638 

        18,535 

      11%

        26,767 

        31,338 

      17%

      Puducherry

        204 

      225 

      10%

      625 

      599 

      -4%

      Andaman and Nicobar Islands

      99 

        95 

      -4%

          229 

      257 

      12%

      Telangana

        7,909 

       8,437 

      7%

       16,466 

        17,664 

      7%

      Andhra Pradesh

        5,905 

       6,147 

      4%

       12,914 

        13,797 

      7%

      Ladakh

      79 

        90 

      13%

          239 

      270 

      13%

      Other Territory

      95 

        80 

      -15%

          545 

      372 

      -32%

      Grand Total

      194,949

      213,219 

      9%

        357,542

         395,867

      11%

      ------

      1Does not include GST on import of goods

      2 Post-Settlement GST is cumulative of the GST revenues of the States/UTs and the SGST portion of the IGST settled to the States/UTs

      Topics

      ActsIncome Tax