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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
    Show AI Summary
    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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      Philips Launches AI Enabled CT 5300 at AOCR 2025

      January 27, 2025

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      Chennai, Tamil Nadu, India – Business Wire India Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, launched the AI enabled CT 5300 at the 23rd Asian Oceanian Congress of Radiology (AOCR) 2025. Philips also celebrated the installation of 1500+ Helium Free 1.5T wide Bore (70 cm) MRI systems worldwide. The revolutionary MRI with BlueSeal magnet technology is the industry's first wide bore 1.5T fully sealed magnet, which relieves healthcare providers from helium-related complications and unpredictability. BlueSeal magnet requires only 0.5% of helium compared to a conventional MRI system. Philips CT 5300 system, equipped with advanced AI capabilities, is designed for diagnosis, interventional procedures and screening. The flexible X-ray CT system increases diagnostic confidence, streamlines workflow efficiency, and maximizes system up-time, helping to improve patient outcomes and department productivity.

      Bharath Sesha, Managing Director, Philips Indian Subcontinent commented “We are thrilled to have showcased our cutting-edge AI-driven solutions from our MRI, CT, Ultrasound, and EI product portfolios at AOCR 2025. Innovations like the MRI with BlueSeal Technology and the advanced CT 5300 system highlight our commitment to addressing the pressing challenges faced by healthcare providers, including staff shortages. By improving diagnostic precision, streamlining workflows, and ensuring reliable system performance, we aim to empower providers to deliver superior patient care efficiently. At Philips, we believe in leveraging Artificial Intelligence to make healthcare more accessible and equitable, bringing us closer to a future where quality care is available at every corner of India.” Visitors to the company’s booth witnessed a full suite of solutions from Imaging and Radiology modalities including MRI, CT, Enterprise Informatics and Ultrasound. The key attractions from Philips’ portfolio included: MRI with BlueSeal Magnet Technology: Based on a decade of innovation, Philips BlueSeal is a fully sealed magnet designed to simplify MRI installations, reduce lengthy and costly disruptions in MRI services, and help healthcare departments transition to sustainable helium-free operations. This revolutionary magnet operates with only seven liters of liquid helium and is fully sealed – freeing up the minds of healthcare providers from potential helium complications. With BlueSeal magnet, Philips aims to help MRI facilities overcome potential helium-related issues of classic magnet design and eliminate the radiology department's dependency on scarce helium supply. The system can also achieve hours of continuous high-performance scanning and offers a leading field-of-view of 55*55*50 cm for a 70 cm wide bore 1.5T system.

      SmartSpeed: Among several new AI-enhanced MR innovations showcased at AOCR 2025 are Philips SmartSpeed, designed to speed up image acquisition and enhance image quality and diagnostic confidence for every patient, and the company’s new MR Workspace with AI assistance, which delivers an intuitive solution to simplify the path from image acquisition to diagnosis to help improve MR workflow and staff experience.

      MR7700: Philips’ MR 7700 3T MRI scanner with XP gradients and artificial intelligence (AI) empowers healthcare providers to deliver an unmatched level of clinical performance and tackle complex research programs. Combining imaging excellence with multi-nuclei integration, the system facilitates advanced workflows that accelerates exams and improves patient-centered productivity. With innovative imaging solutions, MR7700 supports confident decision-making and improved diagnostic imaging – even for the most complex cases.

      CT 5300: Philips launches CT 5300 in India which is a groundbreaking advancement in computed tomography (CT) imaging and one of the first fully AI powered 128 slice system with a nano-panel precise detector made for AI. With cutting-edge AI features like AI reconstruction, AI cardiac motion correction & AI smart workflows, CT 5300 is designed to enhance diagnostic accuracy coupled with high speed. The Philips CT 5300 combines unparalleled image clarity with exceptional speed and low radiation exposure, empowering clinicians to make more accurate diagnoses faster. Engineered for versatility, it is ideal for use in a wide range of clinical settings, from Cardiology, oncology, neurology diagnosis & screening to emergency rooms. The system integrates virtual tools for real-time collaboration and clinical/technical support, which can be instrumental in overcoming challenges related to increased patient caseloads, complex cases and staff shortages.

      Spectral CT-7500: The Spectral CT-7500 is a dual-layer detector CT with Spectral ALWAYS ON for all kinds of patients. Philips leads in the industry for detector based multi-energy CTs and its unique dual-layer detector improves image quality by separating different energy levels, allowing for clearer and more accurate visualization of tissue types. This innovation enables precise identification of complex pathologies and incidental findings even at early stages. With AI integration like AI smart workflows and Cardiac motion correction, this CT becomes an epitome of efficiency and speed for all kinds of complex cases in oncology, cardiology, neurology and other complex anatomies. Designed for efficiency and accuracy, the Spectral CT-7500 is a game-changer in clinical imaging, transforming how healthcare professionals diagnose and treat patients.

      EPIQ Elite: Philips EPIQ Elite is a new class of premium ultrasound featuring powerful nSIGHT Imaging architecture with the latest advancements in image processing and transducer technology. The platform provides high-quality imaging and tailored clinical information to help clinicians deliver timely and confident answers to more patients worldwide. With advanced intelligence and an exceptional level of performance, EPIQ Elite meets the demands of today’s most challenging practices.

      Affiniti Ultrasound System: A premium-quality Ultrasound system, Affiniti series is India’s most esteemed series from Philips Ultrasound with 3000+ installations across the country. Affiniti series of ultrasound systems offer doctors a powerful combination of performance and workflow for quick and efficient diagnosis with low operating cost. In June 2020, Philips announced the shipment of the first ‘Made in India’ Affiniti Ultrasound machine from its Healthcare Innovation Center (HIC) in Pune.

      Advanced Visualization Workspace (AVW 15): The Philips Advanced Visualization Workspace 15 (AVW 15) is an intelligent, automated, and connected image post-processing platform designed to enhance diagnostic confidence while optimizing workflows and reducing reporting time. This scalable and comprehensive solution seamlessly integrates within enterprise systems, enabling healthcare providers to perform advanced analysis and follow-up with precision, even in complex settings. By leveraging AI-driven tools and automation, AVW 15 streamlines repetitive tasks, improves collaboration, and ensures seamless connectivity across imaging systems and healthcare IT infrastructure. Its advanced capabilities empower clinicians to deliver accurate, timely diagnoses, ultimately improving patient outcomes and operational efficiency.

      Philips provides flexible and scalable corporate imaging solutions to hospitals and imaging centers as they aim to enhance their performance. The company’s solutions aid healthcare institutions by increasing the quality of care, improving patient outcomes, and staff experience, all while lowering the cost of care.

      About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

      Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

      DISCLAIMER Information, estimates, expectations and business plans in this press-release may include forward-looking statements for knowledge sharing purposes and not intended to provide medical advice, diagnosis, or treatment suggestions. All information provided by or on behalf of Philips (or any of its affiliates) is provided on an “as is, where is” basis, and no representation or warranty, express or implied, regarding the accurateness or correctness thereof is assumed by Philips in any manner. Philips shall not be liable for any damages arising from the contents including but not limited to direct, indirect, incidental, punitive and consequential damages.

      (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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