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    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
    India's exports surge 19.6 pc in Jul; trade deficit widens to six-month high
    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
    Ratul Puri: Beyond Low-Cost Power to Clean Energy Reliability
    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
    Compounded annual growth rate of Manufacturing GVA at constant prices (2022-23 base) as per revised series during 2022-23 to 2025-26 is 10.88%
    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
    India and the Southern African Customs Union (SACU) sign Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement
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    August 13, 2026
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    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
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    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
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    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
    August 13, 2026
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    Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
    Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
    August 13, 2026
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    Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
    Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
    August 13, 2026
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    Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
    India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
    August 13, 2026
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    Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
    Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
    August 13, 2026
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    Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
    Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
    August 13, 2026
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    Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
    IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
    August 13, 2026
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    Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
    India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
    August 13, 2026
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    EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
    Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
    August 13, 2026
    Show AI Summary
    Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
    Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
    August 13, 2026
    Show AI Summary
    Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
    SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
    August 13, 2026
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    Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
    Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
    August 13, 2026
    Show AI Summary
    Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
    NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
    August 13, 2026
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    CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
    CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
    August 13, 2026
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    Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
    India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
    August 12, 2026
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    Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
    Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
    August 12, 2026
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    Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
    Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.

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      Who is Lorenzo Sewell, the pastor who referenced King's 'dream' speech in inaugural prayer?

      January 21, 2025

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      Washington, Jan 21 (AP) US President Donald Trump's inaugural benediction on the federal holiday that celebrates Martin Luther King Jr included an homage to the civil rights leader's legacy.

      The prayer by a Michigan pastor heavily cited King's seminal "I Have a Dream" speech alongside the Declaration of Independence, patriotic songs and gospel hymns.

      In his spirited roughly three-minute invocation on Monday, Rev Lorenzo Sewell thanked God for the incoming Trump administration and prayed "that America would begin to dream again".

      The comments were at times a near complete rendition of King's 1963 address. He asked God to "let freedom ring" nationwide and ensure that Americans are "Free at last. Thank God Almighty, we are free at last".

      Sewell was a mainstay of Trump's 2024 presidential campaign. He hosted Trump at his church last June, spoke at the Republican National Convention in July, and attended numerous campaign roundtables of faith leaders and pro-Trump conservative Christian rallies.

      Sewell said during a Sunday night inaugural gala that Trump had personally asked him to pray during the inauguration.

      "Heavenly father, we are so grateful that you gave our 45th and now our 47th president a millimetre miracle," Sewell said Monday, referencing the July attempt on Trump's life.

      Here is more about Sewell and the reaction to his benediction: Who is Lorenzo Sewell? Sewell, 43, has been the pastor at the non-denominational 180 Church on the west side of Detroit for seven years, and has said he came to Christianity in 1999 after a spiritual revelation from God.

      Sewell adheres to a charismatic, conservative Christian doctrine and does not shy away from politics in his ministry.

      "The gospel message is a political message. The Bible is a political book, from Genesis to Revelations. We see that the Bible is a political book," Sewell told Fox News in January.

      "It is impossible to be politically neutral." At the Black Conservative Federation's Legacy of Freedom Ball on Sunday night, Sewell invoked Bible verses and gospel hymns as he prayed for Trump's protection.

      "Would you put angels around him, angels that excel in strength, warring angels and ministering angels and flames of fire. And we decree and declare tonight that no weapon formed against him shall prosper," Sewell said.

      Shortly after delivering his energetic benediction, Sewell posted on social media that he had launched a cryptocurrency and encouraged followers to buy it to support his charitable activities. Other major rightwing figures, including Trump, have recently launched cryptocurrencies.

      Trump references King during his second inauguration Monday's ceremony was the third time a presidential inauguration has coincided with Martin Luther King Day in the nearly 40 years since its enactment as a federal holiday. Presidents Bill Clinton and Barack Obama were also inaugurated for their second terms on the holiday.

      "To the Black and Hispanic communities, I want to thank you for the tremendous outpouring of love and trust that you have shown me with your vote. We set records and I will not forget it. I've heard your voices in the campaign, and I look forward to working with you in the years to come," Trump said.

      "Today is Martin Luther King Day, and his honour -- this will be a great honour -- but in his honour, we will strive together to make his dream a reality. We will make his dream come true," Trump declared.

      He also said he intends to "end the government policy of trying to socially engineer race and gender into every aspect of public and private life" and promised to "forge a society that is colourblind and merit based".

      Civil rights leaders, Black faith leaders react to Trump's return King's family observed the holiday with a day of service and prayer, but references to the new administration were evident throughout.

      During proceedings at the King Center in Atlanta, Rev William Barber III rejected the idea that Trump has the right to carry out the most sweeping parts of his agenda.

      "You never win a mandate to violate justice. You never win a mandate to hurt people with your power," Barber said.

      "We come today to remember Dr King but more so to commit ourselves to the spirit," he continued, praying "that every day we've got life in our bodies, to tell America who she is supposed to be".

      Civil rights leaders, including King's family, said before the inauguration that they were unsettled by the juxtaposition of Trump's return to the White House and the King holiday.

      But many, including King's youngest daughter Bernice King, urged those who want to carry out King's vision to watch the inaugural address.

      Major civil rights organisations have adopted a wait-and-see approach to Trump's second term, even as many privately prepared for him to roll back diversity, equity and inclusion policies, social programmes and civil rights laws.

      "For some, today's inauguration represents the best of time: Make America great again. And for others, it highlights the worst of times: Set America back again. For some, today's King holiday represents a day to champion freedom, justice and democracy. For others, it's a day to decry DEI, disavow a legacy of peace, love and justice and distort the meaning of King's words," she said.

      "But regardless of how this day shows up for you, we must remember the mission and be in pursuit of it," King continued.

      The holiday proceedings took place in Ebenezer Baptist Church, where the late King once presided. The senior of that church was not present for the sermons and day of service. Rev Raphael Warnock, who also serves as a Senator for Georgia in Congress, was in Washington observing the inaugural proceedings.

      Warnock said in a video posted on social media that Trump's inauguration "ironically" coincided with the King holiday and that while "his name was invoked throughout the ceremony, the agenda did not sound like Dr King".

      Reaction to Sewell's benediction Sewell's prayer received widespread praise from GOP lawmakers, conservative activists and the president's rank-and-file supporters online and in the Capitol One Arena where a rally for the president took place concurrently with events at the US Capitol.

      But some Black faith leaders and civil rights figures expressed unease at Sewell's prayer and Trump's references to King.

      "Don't let them hijack what Dr King was about," said Rev Al Sharpton.

      "Dr King was a fighter. Dr King used economic leverage. Dr King was a man who stood up for economic justice. And you can't celebrate Dr King without celebrating what he stood for," Sharpton argued. (AP) ARI

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