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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
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    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
    Show AI Summary
    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
    Show AI Summary
    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
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    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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      Trump signs order that likely sets in motion a future ban on transgender troops

      January 28, 2025

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      Washington, Jan 28 (AP) President Donald Trump signed an executive order Monday directing Defence Secretary Pete Hegseth to revise the Pentagon's policy on transgender troops, likely setting in motion a future ban on their military service.

      He also ordered troops to be reinstated who had been booted for refusing COVID-19 vaccines, outlined new rollbacks in diversity programs and provided for the deployment of a space-based missile defense shield for the US just after Hegseth began his first day on the job.

      Both Trump and Hegseth had described parts of the anticipated orders throughout the day, but the exact language did not drop until late Monday evening.

      Transgender order A transgender ban had been widely expected, and the order Trump signed largely sets in motion a future ban — but directs Hegseth to come up with how that would be implemented in policy.

      In his order, Trump claimed that service by troops who identify as a gender other than their biological one “conflicts with a soldier's commitment to an honourable, truthful, and disciplined lifestyle, even in one's personal life” and is harmful to military readiness, requiring a revised policy to address the matter.

      Trump had tried to impose a ban on transgender troops during his first term, but it was tangled up in the courts for years before being overturned by then-President Joe Biden shortly after he took office.

      Lawyers for transgender troops who challenged the ban in the courts during Trump's first term have already pledged to fight the new ban.

      Space-based missile defence During his first term in office Trump established US Space Command and the US Space Force, which just marked its fifth birthday. Space continues to be a priority for the president, who has now directed the Pentagon to begin to develop the capability to shoot down missiles from space.

      For years the US has cautioned that China, Russia and others were weaponizing space. It has at times declassified information about both countries' efforts to create offensive weapons to disable critical US satellites, including the capability to move satellites from orbit, temporarily blind them or potentially even destroy them. The Space Force is in the process of building a low-orbit ring of redundant satellites that can more quickly track and detect potential missile launches.

      But establishing a way to shoot missiles down from space is something the US has not considered since President Ronald Reagan announced the Strategic Defense Initiative — “Star Wars” as it was commonly known — in the 1980s. The system was never developed due to cost and technological limitations.

      In his order late Monday called “an Iron Dome for America,” Trump called for a multi-layer missile defense system capable of countering an array of threats to the US, to include development and deployment of space-based interceptors.

      COVID-19 vaccination At least 8,200 troops were forced out of the military in 2021 for refusing to obey a lawful order when they declined to get the vaccine. Notices advising them they could return were sent out in 2023, but just 113 have reenlisted.

      The reinstatement process for those ousted for refusing the vaccine requires that they meet military entry standards, unless Trump opts to change that. He and Hegseth, however, have persistently stated that the military must not reduce standards.

      ?We will offer full reinstatement to any service member who was expelled from the armed forces due to the COVID vaccine mandate,” Trump told a Republican crowd at the Trump National Doral Miami, a resort he owns. “And we will restore them to their former rank with full pay. ? The order isn't expected to have a major impact on the number of service members returning. But it could take a bite out of the budget if more do now, since it requires back pay.

      They would have to meet weight, fitness, medical and other requirements, and they could be refused if they now have a criminal record or other disqualifying factor. Officers would have to get recommissioned, which is a simple appointment process.

      According to the services, 3,748 Marines were discharged, and 25 have opted to re-enlist; 1,903 Army soldiers were discharged, and 73 returned; 1,878 sailors were discharged and two returned; 671 airmen were discharged and 13 returned.

      The Pentagon made the COVID-19 vaccine mandatory in August 2021 for all service members, including the National Guard and Reserve. At that time, the pandemic was still killing and sickening tens of thousands around the country, and troops were being used to help get people vaccinated.

      Then-Defence Secretary Lloyd Austin said getting the vaccine was critical to maintaining a heathy, ready force that could be prepared to defend the nation. The Pentagon formally dropped the mandate in January 2023, as a result of legislation signed into law.

      Defense officials said then that many troops appeared to use the vaccine mandate as a way to quickly and easily to get out of their service obligations. And officials on Monday said many of those service members had gotten new jobs and moved on with their lives, and didn't want to reenlist.

      DEI initiatives Trump also, as expected, issued a sweeping order to abolish all programs, initiatives and mentions of diversity, equity and inclusion across the Defense Department and the Coast Guard, which is governed by the Department of Homeland Security.

      The order looks to scrub “any vestiges” of such initiatives that seek to “promote a race-based preferences system that subverts meritocracy, perpetuates unconstitutional discrimination, and promotes divisive concepts or gender ideology.” It prohibits the departments from promoting or following “un-American” theories that suggest that America's founding documents are racist or sexist; that discuss gender ideology; and that promote “divisive concepts” such as “race or sex stereotyping.” The order says the defense and homeland security secretaries must issue guidance to implement the order in 30 days. It calls for a review to find any instances of actions taken in pursuit of DEI, which will be due to the defense secretary in 90 days.

      The secretaries must submit a report to the White House in six months outlining their progress.

      The Pentagon had already been taking steps to comply with his initial DEI ban, and it has had far-reaching consequences. Without clearer direction, agencies have been taking a broad approach to removing any content that seemed to run afoul of Trump's ban.

      That temporarily included videos of the storied Tuskegee Airmen and World War II Women's Airforce Service Pilots, or WASPs, which were part of DEI training courses for the Air Force's basic military training. Videos on both the Tuskegee Airmen and WASPs were removed as the courses were taken down last week, causing an uproar.

      WASPs were vital in ferrying warplanes for the military. The Tuskegee Airmen were the nation's first Black military pilots, serving in a segregated WWII unit, and their all-Black 332nd Fighter Group had one of the lowest loss records of all the bomber escorts in the war.

      On Sunday, the Air Force clarified that the DEI courses had been removed to be edited but that the Tuskegee Airmen and WASP content would continue to be taught.

      “The revised training which focuses on the documented historic legacy and decorated valor with which these units and Airmen fought for our Nation in World War II and beyond will continue on 27 January,” the Air Force said in a statement.

      Hegseth didn't mention the issue as he walked into the Pentagon Monday morning accompanied by Gen. CQ Brown Jr., chairman of the Joint Chiefs of Staff. But in other comments, Hegseth said that “military training will be focused on the readiness of what our troops in the field need to deter our enemies.” Hegseth is also continuing to focus on the border, and told reporters gathered on the steps of the Pentagon that “whatever is needed at the border will be provided,” using active-duty, National Guard and state-activated Guard troops.

      Hegseth was approved by the Senate Friday night in a tie vote that had to be broken by Vice President JD Vance. (AP) AMS

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