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    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
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    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
    Airtel ends all prepaid mobile plans offering 1.5 GB data per day with unlimited calls
    ED arrests IBC resolution professional
    Mumbai cops bust fake documents racket; four arrested
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    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
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    Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
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    August 13, 2026
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    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.
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    August 13, 2026
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    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.
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    Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
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    Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
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    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.
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    August 12, 2026
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    Identity document forgery allegations prompt investigation into fraudulent Aadhaar updates and falsified government and educational certificates.
    Alleged forgery and misuse of identity-related records are under investigation following operations at Aadhaar centres. Seized materials reportedly include forged birth, educational, residence, caste and citizenship certificates, records bearing forged signatures and seals, and equipment used for Aadhaar updates. Four persons were arrested in two operations for allegedly preparing forged records and using them to update Aadhaar cards. Cases have been registered under relevant provisions of the Bharatiya Nyay Sanhita, with investigation continuing into the extent of the alleged network.

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      Customs & Trade

      Colombian president orders increase of import tariffs on US goods in retaliation to Trump order

      January 27, 2025

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      Bogota, Jan 27 (AP) — Colombian President Gustavo Petro on Sunday ordered an increase of import tariffs on U.S. goods in retaliation to a similar order announced hours earlier by President Donald Trump.

      The tariffs fight follows Petro's decision to reject two U.S. military flights carrying migrants to Colombia. Trump, in a social media post, said the rejection “jeopardized” national security in the U.S.

      Petro in a post on X said he had ordered Colombia's “foreign trade minister to raise import tariffs from the US by 25%.” US President Donald Trump said Sunday that he was ordering tariffs, visa restrictions and other retaliatory measures to be taken against Colombia after its government rejected two US military flights carrying migrants.

      Trump said the measures were necessary because the decision of Colombian President Gustavo Petro “jeopardized” national security in the US.

      “These measures are just the beginning,” Trump wrote on his social media platform Truth Social. “We will not allow the Colombian Government to violate its legal obligations with regard to the acceptance and return of the Criminals they forced into the United States.” Earlier Sunday, Petro said his government would not accept flights carrying migrants deported from the US until the Trump administration creates a protocol that treats them with “dignity.” Petro made the announcement in two X posts, one of which included a news video of migrants reportedly deported to Brazil walking on a tarmac with restraints on their hands and feet.

      “A migrant is not a criminal and must be treated with the dignity that a human being deserves,” Petro said. “That is why I returned the US military planes that were carrying Colombian migrants... In civilian planes, without being treated like criminals, we will receive our fellow citizens." Colombia accepted 475 deportation flights from the United States from 2020 to 2024, fifth behind Guatemala, Honduras, Mexico and El Salvador, according to Witness at the Border, an advocacy group that tracks flight data. It accepted 124 deportation flights in 2024.

      Last year, Colombia and other countries began accepting US-funded deportation flights from Panama.

      The US government didn't immediately respond to a request for comment from The Associated Press regarding aircraft and protocols used in deportations to Colombia.

      US Secretary of State Marco Rubio in a statement said Petro “cancelled his authorization” for the flights when the aircraft were in the air.

      No official order had been issued as of Sunday afternoon that would allow for the implementation of the measures Trump announced.

      “This is a clear message we are sending that countries have an obligation to accept repatriation flights," a senior administration official told the AP. The official spoke on the condition of anonymity because they were not authorized to discuss issue publicly.

      Colombians emerged in recent years as a major presence on the U.S. border with Mexico, aided in part by a visa regime that allows them to easily fly to Mexico and avoid trekking though the treacherous Darien Gap. They ranked fourth with 127,604 arrests for illegal crossings during a 12-month period through September, behind Mexicans, Guatemalans and Venezuelans.

      Mexico hasn't imposed visa restrictions on Colombians, as they have on Venezuelans, Ecuadoreans and Peruvians.

      The government of Petro, a former leftist guerrilla, in a statement later announced that the South American country's presidential aircraft had been made available to facilitate the return of migrants who were to arrive hours earlier on the US military airplanes and guarantee them “dignified conditions." As part of a flurry of actions to make good on Trump's campaign promises to crack down on illegal immigration, his government is using active-duty military to help secure the border and carry out deportations.

      Two US Air Force C-17 cargo planes carrying migrants removed from the US touched down early Friday in Guatemala. That same day, Honduras received two deportation flights carrying a total of 193 people.

      In announcing what he called “urgent and decisive retaliatory measures,” Trump explained that he ordered “25% tariffs on all goods coming into the United States,” which would be raised to 50% in one week. He said he also ordered “A Travel Ban and immediate Visa Revocations” on Colombian government officials, allies and supporters.

      “All Party Members, Family Members, and Supporters of the Colombian Government,” Trump wrote will be subject to “Visa Sanctions.” He did not say to which party he was referring to or provide any additional details on the visa and travel restrictions.

      Trump added that all Colombians will face enhanced customs inspections.

      Trump's actions would seem to undercut his goal to reduce his country's trade deficit. Unlike Mexico or China, Colombia is one of the few countries with a trade deficit with the US, of around $1.4 billion, according to US trade data.

      Colombia is the US' fourth-largest overseas supplier of crude oil, shipping about 209,000 barrels of oil per day last year, although booming domestic production has reduced the US' dependence on foreign oil. Other imports include coal, coffee and gold.

      Colombia is also the US' largest supplier of fresh cut flowers, and with Valentine's Day just weeks away, the price of saying “I love you” could be impacted. (AP) NSD NSD

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