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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
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    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
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    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
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    August 17, 2026
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    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
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    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
    Show AI Summary
    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
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    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
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    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
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    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
    Show AI Summary
    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

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      Trump, the 'America First' candidate, has new preoccupation: Imperialism

      January 9, 2025

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      New York, Jan 9 (AP) Donald Trump ran on a return to his "America First” foreign policy platform. The US, he said, could no longer afford to be the world's policeman. On his watch, he pledged, there would be no new wars.

      But since winning a second term, the president-elect has been embracing a new imperialist agenda, threatening to seize the Panama Canal and Greenland — perhaps by military force — and saying he will use economic coercion to pressure Canada to become the nation's 51st state.

      “Canada and the United States, that would really be something. You get rid of that artificially drawn line, and you take a look at what that looks like and it would also be much better for national security,” Trump said of the world's longest international border and the US' second-largest trade partner.

      Such talk of undermining sovereign borders and using military force against allies and fellow NATO members — even if said lightly — marks a stunning departure from decades-old norms about territorial integrity. And it is rhetoric that analysts say could embolden America's enemies by suggesting the US is now OK with countries using force to redraw borders at a time when Russia is pressing forward with its invasion of Ukraine and China is threatening Taiwan, which it claims as its own territory.

      “If I'm Vladimir Putin or Xi Jinping, this is music to my ears," said John Bolton, Trump's former national security adviser-turned-critic, who also served as ambassador to the United Nations.

      Trump's language, reflecting a 19th century world view that defined European colonial powers, comes as international allies were already grappling with the implications of his return to the world stage.

      Gerald Butts, outgoing Canadian Prime Minister Justin Trudeau's former top adviser and a longtime close friend, said Trump seems more emboldened than when he first took office in 2017.

      “I think he's feeling a lot less unencumbered than he was the last time. There are no restraints. This is maximum Trump,” he said.

      Butts is part of a WhatsApp group with others who staffed heads of state and government during the first Trump term. “Someone joked that the big fear the last time was that he didn't know what he was doing and the big fear this time is that he does,” he recounted.

      Trump's swaggering rhetoric also marks a continuation of the kind of testosterone-heavy energy that was a signature of his campaign, particularly as he worked to win over younger male voters with appearances on popular podcasts.

      Charlie Kirk, a key Trump ally who joined Trump's eldest son, Donald Trump Jr, on a trip to Greenland this week, argued on his podcast Wednesday that it was imperative for the US to control Greenland. The island is an autonomous territory of Denmark, a longtime US ally and a founding NATO member.

      Beyond the country's strategic location in the Arctic and its rich resources, Kirk said, “there is this other component. It makes America dream again, that we're not just this sad, low-testosterone, beta male slouching in our chair, allowing the world to run over us." "It is the resurrection of masculine American energy. It is the return of Manifest Destiny,” said Kirk, whose Turning Point group helped with Trump's get-out-the-vote effort.

      Trump allies have long argued that his bluster and most audacious statements are all part of his complex negotiating tactics. Aides note that nearly half of US shipping containers travel through the Panama Canal and that key canal ports are controlled by a Hong Kong–based firm.

      Greenland is home to the Pituffik Space Base, the northernmost US post, which plays a key role in missile warnings and space surveillance. And China and Russia have been making their own investments in the Arctic at a time when new potential shipping routes are opening as ice caps melt.

      Canada, Trump's team notes, spends far less on defence than its southern neighbour.

      “Every decision President Trump makes is in the best interest of the United States and the American people. That's why President Trump has called attention to legitimate national security and economic concerns regarding Canada, Greenland and Panama," said Trump-Vance Transition spokesperson Karoline Leavitt.

      But Michael McFaul, the Obama-era ambassador to Russia who now serves as director of the Freeman Spogli Institute for International Studies at Stanford University and a senior fellow at the Hoover Institution, said Trump's language is counterproductive to US national security interests.

      “President Trump is about to take over at one of the most dangerous times in American history," he said. "We will be best at addressing those threats with allies. Allies are our superpower. And so I wish he would focus on the real threats and not invent threats.” Trump's trolling is not the negotiating ploy of “crazy genius,” he said, and will have consequences.

      “We've got serious enemies and adversaries in the world, and we're better off with the Canadians and the Danes with us than pissed off with us," he said.

      Indeed, Canadian officials have responded with increasing anger.

      “The joke is over,” Dominic LeBlanc, the country's finance minister and point person for US-Canada relations, said Wednesday. “It's a way for him, I think, to sow confusion, to agitate people, to create chaos knowing this will never happen." Mexican President Claudia Sheinbaum responded with sarcasm Wednesday to another Trump proposal: to rename the Gulf of Mexico as the “Gulf of America." Standing before an old map, she quipped that North America should be renamed “América Mexicana,” or “Mexican America,” because a founding document dating from 1814 that preceded Mexico's constitution referred to it that way.

      “That sounds nice, no?” she said.

      Denmark and Panama have responded similarly, with Panama's foreign minister, Javier Martínez-Acha, saying, “The sovereignty of our canal," which the country has controlled for more than 25 years, “is not negotiable and is part of our history of struggle and an irreversible conquest.” Mike O'Hanlon, a senior fellow at the Brookings Institution, said he has been surprised by Trump's recent comments given his previous relative disinterest in using force.

      While Trump boasted that he had a bigger and more powerful “nuclear button” than North Korea and bombed Iranian general Qassim Soleimani during his first term, he also cast himself during the campaign as a president who had started no new wars and who would be able to prevent World War III.

      O'Hanlon noted that NATO members are sworn to defend each other if they are attacked, creating what would be an unprecedented situation were Trump to actually try to forcefully take Greenland.

      “You could make a strong argument that the rest of NATO would be obliged to come to Denmark's defence," he said. “It does raise the possibility, at whatever crazy level, of direct military force.” Bolton has long criticised Trump for lacking a coherent policy strategy, saying his approach is "transactional, ad hoc, episodic and really viewed from the prism of how it helps Donald Trump.” He said Trump has never liked Trudeau, and was clearly enjoying trolling the Canadian leader as he railed against the nations' trade imbalance. Canada, a resource-rich nation, sells more goods to the US than it buys.

      But Bolton said the president-elect's expansionist talk about Canada and Greenland is likely to backfire, adding: “When you do things that make it less likely you're going to achieve the objectives, that's not master bargaining, that's crazy." (AP) SCY SCY

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