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    Government Eases RCMC Requirement for Export Consignments up to ₹3 Lakh
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September 16, 2026
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RCMC exemption for eligible small-value exports reduces upfront registration requirements while preserving compliance for larger consignments.
RCMC or Certificate of Registration is not required, wherever otherwise mandated under the Foreign Trade Policy, 2023, for export consignments with a Free-on-Board value of up to Rs. 3 lakh. Export consignments exceeding that threshold continue to require a valid RCMC or Certificate of Registration wherever applicable. The exemption reduces the initial registration burden for MSMEs, artisans, small businesses, first-time exporters and occasional exporters undertaking eligible small-value exports, including through Postal, Courier, e-commerce and other emerging channels.
September 16, 2026
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Methamphetamine trafficking enforcement enabled coordinated vehicle interceptions, contraband seizures, and arrests under narcotic drug control law.
Intelligence-led narcotics enforcement led to the interception of four trucks in Assam and Tripura suspected of carrying methamphetamine tablets concealed in vehicle cabins. A total of 231.8 kg of suspected methamphetamine tablets, along with all four vehicles, was seized under the NDPS Act, and three persons were arrested. The action involved coordinated surveillance, interception and searches directed at an alleged drug-smuggling syndicate.
September 16, 2026
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Authorised Economic Operator programme advances trusted trade through risk-based customs facilitation, streamlined EMI documentation, and stakeholder-led reforms.
India's Authorised Economic Operator Programme promotes voluntary compliance, supply-chain security, risk-based customs administration and predictable cross-border movement of goods. Compliant trade and logistics entities may receive simplified customs procedures and risk-based facilitation. Proposed process reforms include uniform operating procedures, applicant checklists, single-deficiency processing, time-bound applications, clearer financial-solvency requirements, and strengthened client relationship and validation arrangements. Documentation under the Eligible Manufacturer Importer Scheme has been reduced, supporting lower compliance burdens and a pathway towards higher AEO tiers.
September 16, 2026
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Fraudulent procurement of a second passport allegedly involved false identity records, a false loss report, and overseas travel.
Alleged fraudulent procurement of a second passport arose after a passport had been surrendered in money-laundering-related proceedings. Authorities allege that the individual falsely reported the passport as lost and obtained another passport through false information, including an incorrect address in identity documentation and supporting records. The second passport was allegedly used for international travel. Criminal proceedings concern alleged forged documents, false representations and passport-related offences under the Bharatiya Nyaya Sanhita and the Passports Act.
September 16, 2026
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Rupee depreciation reflected dollar strength, foreign outflows, elevated oil prices, and importer demand despite stronger domestic equities.
Foreign-exchange market conditions resulted in the rupee weakening for a seventh consecutive session and closing lower against the US dollar. Dollar strength, foreign fund outflows, elevated crude oil prices, higher US Treasury yields and increased importer demand for dollars exerted pressure on the currency. Positive domestic equity-market performance limited the downside, while expectations of a US Federal Reserve interest-rate increase supported the dollar index.
September 16, 2026
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Multi-currency prepaid travel cards enable foreign-exchange spending, exchange-rate locking, and mobile-based controls for Indian international travellers.
Wizzmoni Financial Services Ltd. and City Union Bank Ltd. have partnered to launch Wizz Voyager, a co-branded AI-powered multi-currency prepaid travel card for Indian residents undertaking international travel. The card supports 37 international currencies and provides real-time exchange-rate locking, spending controls, transaction tracking and mobile-app-based management. It is designed to facilitate foreign-exchange spending and management of multiple currencies through a single payment instrument.
September 16, 2026
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Non-executive nominee directorship strengthens lending governance, compliance, risk management and technology-led capability as the business scales responsibly.
Finnable has appointed Sreeram Ranganathan Iyer as a Non-Executive Nominee Director representing investor TVS Capital. The role is intended to strengthen board oversight as the non-banking financial company expands its lending operations. The identified priorities for sustainable growth include technology, compliance, governance, risk management, responsible lending, and data-driven underwriting. The nominee directorship reflects investor participation in governance and capability-building for a sustainable lending franchise.
September 16, 2026
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Money laundering investigation addresses alleged land grabbing through forged property records, fabricated claims, coercion, and denial of landowners' rights.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged land grabbing through forged board resolutions, forged-sale agreements, fabricated deeds, and falsified property records. The alleged conduct includes manipulation of land records, civil proceedings based on false claims, denial of landowners' lawful entitlements, and threats or physical force against persons asserting legitimate rights. The investigation is linked to multiple police FIRs concerning the individual and associated entities.
September 16, 2026
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Trade performance estimates show merchandise and services exports increasing while imports rise, widening the cumulative trade deficit.
External trade estimates for April-August 2026-27 show combined merchandise and services exports of US$399.27 billion and imports of US$459.65 billion, with a trade deficit of US$60.38 billion. Merchandise exports reached US$215.91 billion, while services exports were estimated at US$183.36 billion. Non-petroleum exports increased to US$180.61 billion. Growth in August merchandise exports was driven by electronic goods, petroleum products, engineering goods, chemicals, and cotton yarn, fabrics, made-ups and handloom products. Services-sector figures for August were estimated using data available through July.
September 16, 2026
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Rupee depreciation amid dollar strength and foreign fund outflows highlights pressure from global monetary expectations and elevated oil prices.
Rupee depreciation against the US dollar in early trading reflected pressure from a stronger dollar and net foreign fund outflows, notwithstanding support from positive domestic equity-market performance. Dollar strength was associated with market expectations of a US Federal Reserve interest-rate increase to address inflation linked to higher oil prices. Elevated crude oil prices and risks to oil exports remained concerns, while domestic equity gains provided countervailing support.
September 16, 2026
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Fraudulent input tax credit through bogus invoices prompted arrest following allegations of invoicing without actual supply of goods.
The investigation concerned alleged fraudulent availment and passing on of inadmissible input tax credit through bogus invoices. Multiple suppliers were identified as non-existent, non-functional, suspended or cancelled, while field verification indicated an absence of genuine business activity at certain declared premises. Input tax credit was allegedly availed without receipt of goods and passed on through invoices without corresponding supplies. Statements recorded during investigation led to the arrest of a firm partner under the CGST Act.
September 16, 2026
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UPI merchant discount rate framework preserves free individual and small-merchant payments while charging specified larger merchant transactions.
UPI person-to-person transactions remain free irrespective of value, and person-to-merchant payments up to Rs.2,000 remain outside the merchant discount rate framework. Small merchants receiving qualifying UPI QR payments under the P2PM category continue to receive zero MDR treatment. MDR applies only to specified merchant payments above the threshold, with separate treatment for essential sectors and capital-market payments. Customers are not liable for MDR, merchants must not pass it on, and UPI application providers may not levy platform fees or hidden charges. MDR revenue supports payment ecosystem participants and small-merchant UPI adoption.
September 15, 2026
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Merchant discount rate on large-value UPI merchant payments supports infrastructure investment while preserving free user payments.
Merchant Discount Rate (MDR) of 0.4 per cent applies to large-value UPI person-to-merchant payments exceeding Rs 2,000 from October 15. MDR is a merchant payment ecosystem charge, not a fee payable by customers. Person-to-person UPI payments remain free for users, while person-to-merchant UPI payments below Rs 2,000 remain free for merchants. MDR distribution is intended to support payment technology, infrastructure, acceptance networks and sustained UPI growth.
September 15, 2026
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Special economic zone approval enables a silicon carbide semiconductor facility operating under an export-oriented technology investment framework.
Approval for a special economic zone-linked silicon carbide semiconductor manufacturing unit permits establishment of a facility under the jurisdiction of Falta Special Economic Zone. The unit is proposed to manufacture silicon carbide diodes and silicon carbide MOSFETs. Project financing combines government capital subsidies and promoter contribution, while the facility is projected to support export-oriented advanced semiconductor manufacturing, domestic capabilities, and technology-driven capital investment.
September 15, 2026
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Merchandise trade performance reflects strong export momentum, import-led deficit pressures, and expanded services trade during August.
Merchandise exports increased by 26.12 per cent year-on-year to USD 43.81 billion in August, led by electronics, engineering goods and petroleum products. Merchandise imports rose 14.1 per cent to USD 70.76 billion, driven by crude oil, project goods, electronic items, silver, coal and coke. Gold imports declined substantially, contributing to a five-month low merchandise trade deficit. During April-August 2026-27, higher imports reflected domestic economic expansion, energy requirements and manufacturing-sector input needs.
September 15, 2026
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Foreign exchange market pressures weakened the rupee as oil-import demand, risk aversion, dollar strength, and rising yields intensified.
Foreign exchange market pressures led to a sixth consecutive session of rupee depreciation against the US dollar. Higher Brent crude prices, dollar demand from oil importers, risk aversion, a stronger dollar and elevated global Treasury yields heightened concerns over inflation and India's external trade balance. Potential RBI intervention was viewed as a factor that could support the rupee at lower levels.
September 15, 2026
Show AI Summary
Merchant discount rates for larger merchant UPI payments introduce category-based fees while preserving free consumer transfers.
Merchant discount rate framework introduces a 0.4 per cent charge on direct person-to-merchant UPI payments exceeding Rs 2,000, effective from 15 October 2026. The charge is capped at Rs 300 for higher-value payments and is payable by merchants to acquiring banks. Person-to-person transfers remain free regardless of value, and P2M payments up to Rs 2,000 remain outside the charge. App providers may not impose platform fees or hidden charges, and banks must prevent merchants from passing MDR costs to customers.
September 15, 2026
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Insolvency fraud enforcement targets collusive resolutions, coordinated predicate-offence investigations, accelerated money-laundering trials, and earlier victim asset restoration.
Enforcement priorities target suspected insolvency-resolution frauds involving collusive large haircuts, promoter reacquisition of assets, related-party claim inflation, creditor-process manipulation, asset stripping, and circumvention of resolution-applicant ineligibility. Coordination with police and other agencies is emphasised for predicate offences, including joint investigation teams and committal applications to enable combined trials of predicate and money-laundering offences. Asset restoration for legitimate victims is to be pursued early, especially in investor and homebuyer frauds.
September 15, 2026
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Export expansion and domestic manufacturing guide JCB India's strategy through broader equipment offerings, fuel efficiency, and operator comfort.
JCB India targets 15-20 per cent export growth during the current financial year and plans a similar increase in annual production. Its export operations cover approximately 135 countries, including Southeast Asia, Africa and developed markets. The company's construction and earthmoving equipment portfolio is designed, engineered and manufactured in India for domestic and international customers, with product development focused on fuel efficiency, operator ergonomics, comfort and productivity.
September 15, 2026
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Merchandise export growth driven by petroleum products coincided with lower gold imports and a narrowing trade deficit.
Merchandise exports increased sharply in August, led by petroleum product shipments, while imports also rose year-on-year. Reduced gold imports contributed to a narrower merchandise trade deficit. During the first five months of the fiscal year, the cumulative deficit widened as higher imports reflected domestic expansion, energy requirements and manufacturing-input demand. Energy commodities and electronic goods were principal contributors to the deficit, while export growth was supported by engineering goods, petroleum products, chemicals and textiles.

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Russia's top diplomat praises Trump's views on Ukraine conflict

January 14, 2025

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Moscow, Jan 14 (AP) Russia's top diplomat said Tuesday that Moscow is open for talks with President-elect Donald Trump and praised him for pointing to NATO's plan to embrace Ukraine as a root cause of the nearly 3-year-old conflict.

Any prospective peace talks should involve broader arrangements for security in Europe, Russian Foreign Minister Sergey Lavrov said at his annual news conference, while adding that Moscow is open to discussing security guarantees for Kyiv.

Lavrov specifically praised Trump's comments earlier this month in which he said that NATO's plans to open its doors to Ukraine had led to the hostilities.

Trump said Russia had it “written in stone” that Ukraine's membership in NATO should never be allowed, but the Biden administration had sought to expand the military alliance to Russia's doorstep. Trump added that, "I could understand their feelings about that.” Trump's comments echoed Moscow's rhetoric which has described its “special military operation” in Ukraine launched in February 2022 as a response to planned NATO membership for Kyiv and an effort to protect Russian speakers. Ukraine and its allies have denounced Russia's action as an unprovoked act of aggression.

“NATO did exactly what it had promised not to do, and Trump said that,” Lavrov said. “It marked the first such candid acknowledgement not only from a US but any Western leader that NATO had lied when they signed numerous documents. They were used as a cover while NATO has expanded to our borders in violation of the agreements." The West has dismissed that assessment. Before the conflict, Russia had demanded a legal guarantee that Ukraine be denied NATO entry, knowing the alliance has never excluded potential membership for any European country but had no immediate plan to start Ukraine down that road. Russia said NATO expansion would undermine its security, but Washington and its allies argued the alliance didn't threaten Moscow Ukrainian President Volodymyr Zelenskyy has urged his Western allies to invite Kyiv to join NATO, or, at the very least, offer comprehensive security guarantees that would prevent any future Russian attacks. The alliance's 32 member countries say Ukraine will join one day, but not until the fighting ends.

Trump has reaffirmed his intention to broker peace in Ukraine, declaring earlier this month that “Putin wants to meet” and that such a meeting is being set up. In the past, he has criticised US military aid for Ukraine and even vowed to end the conflict in a single day if elected.

Lavrov emphasised that Russian President Vladimir Putin has repeatedly declared his openness for talks with Trump, adding that Moscow looks forward to hearing Trump's view on Ukraine after he takes office.

Lavrov also praised comments by Trump's pick for national security adviser, Mike Waltz, who said Sunday it's unrealistic to expect that Ukraine could drive Russian forces “from every inch of Ukrainian soil.” “The very fact that people have increasingly started to mention the realities on the ground deserves welcome,” Lavrov said during his annual news conference un Moscow.

In its final days, the Biden administration is providing Kyiv with as much military support as it can, aiming to put Ukraine in the strongest position possible for any future negotiations. The US also introduced new sanctions on Russia's oil industry.

Lavrov described those efforts as an attempt by the Biden administration to “slam the door” and leave a difficult legacy for Trump. “The Democrats have a way of screwing things up for the incoming administration,” he said.

He emphasised that any prospective peace talks must address Russia's security concerns and reflect a broad European security environment.

“Threats on the western flank, on our western borders, must be eliminated as one of the main reasons (of the conflict),” he said. “They can probably be eliminated only in the context of some broader agreements.” He added that Moscow is also open to discuss security guarantees for Kyiv, "for the country, which is now called Ukraine.” Lavrov was asked about Trump's comments in which he wouldn't rule out using force or economic pressure to make Greenland — a semiautonomous territory of Denmark — a part of the United States.

Lavrov emphasised that the people of Greenland must be asked what they want.

“For a start, it's necessary to listen to the Greenlanders,” Lavrov said, noting that they have the right for self-determination if they believe that their interests aren't duly represented by Denmark. (AP) GRS GRS

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