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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
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    August 17, 2026
    Show AI Summary
    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
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    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
    Show AI Summary
    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
    Show AI Summary
    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
    Show AI Summary
    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
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    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
    Show AI Summary
    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

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      Customs & Trade

      Trump's 3rd week saw more executive orders, trade war that wasn't, Mideast jolt

      February 8, 2025

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      Washington, Feb 8 (AP) Three weeks in, President Donald Trump keeps cranking out executive orders designed to remake the government while billionaire Elon Musk hunts for more ways to upend the federal workforce.

      Trump also provoked — then called off — trade wars with Canada and Mexico but allowed one with China to move forward. He seemingly made light of potentially thorny political issues while insisting he was serious about the United States seizing Gaza, emptying out its residents and redeveloping the area into “the Riviera of the Middle East.” It was an idea that friend and foe alike around the world rejected.

      Here are some Week 3 takeaways: So many executive orders Trump has spent 20 days in office, and on nearly every one of them, he has signed executive orders — often several.

      Just like Presidents Barack Obama and Joe Biden before him, Trump used Inauguration Day to put pen to paper on actions meant to wipe out large numbers of his predecessor's policies. Trump also issued Day 1 orders to pardon most members of the mob that attacked the Capitol on January 6, 2021, withdraw the US from the Paris climate accord and keep TikTok functioning.

      He hasn't stopped since, taking at least 92 presidential actions, including one marking the 80th anniversary of the liberation of Auschwitz. One that would ban paper straws is supposed to come soon.

      The president signed most of the orders in the Oval Office; some were done aboard Air Force One. At times, officials have carted around a mini desk, affixed with the presidential seal, for the signings.

      It was there in the White House's East Room when Trump signed an order intended to ban transgender athletes from participating in girls' and women's sports.

      Trump used a similar desk to sign executive orders during a rally at Capital One Arena after his inaugural address. It's a prop Trump loves. He even mused about incorporating a special desk into his presidential swearing-in ceremony before it happened.

      “I may even have a very tiny little desk put on the 20th stair because I always like to sign with a desk,” Trump said in Iowa on November 18, referring to his Inauguration Day walk up the Capitol steps.

      Trade wars are off, for now Trump temporarily backed away from his tariff threats against Canada and Mexico, staving off a possible North American trade war as the US holds separate talks over the next 30 days with its two biggest trading partners.

      But Trump followed through on trade penalties against China, imposing a 10 per cent tax on imports from that country.

      White House aides say that tariffs, and Chinese retaliations, are not the start of a trade war because Trump's executive orders said the taxes were meant to force countries to address drug smuggling and, in the case of Canada and Mexico, illegal immigration.

      Still, Trump asserted that he wants to fix the trade imbalance as part of the negotiations with Canada and Mexico. Trump posted on his social media site regarding Canada that the talks should produce “a final Economic deal.” The White House treated Canada's decision to create a “fentanyl czar” and Mexico's deployment of 10,000 National Guard troops to the border as wins for Trump. But by most economic analyses, this was also a near catastrophe averted. The tariffs, if put in place, could increase inflation and subtract from growth.

      DOGE access to vital federal payment system is challenged in court The week featured another avalanche of activity to disrupt the government.

      The Musk-led special commission known as the Department of Government Efficiency helped pull almost all US Agency for International Development workers off the job worldwide, while a push to pressure millions of federal workers into resigning has engulfed even the CIA.

      Lieutenants for Musk, the Tesla and X owner, also temporarily got access to the Treasury Department payment information system, setting off concerns about transparency and accountability that led to a court challenge.

      A federal judge early Saturday blocked DOGE from accessing those records and set a hearing for February 14.

      The payments system handles trillions of dollars annually. It's a hidden part of the government plumbing that's essential for paying income taxes, collecting tax refunds, distributing money to contractors and paying out Social Security and Medicare benefits — and one of those parts of government that cannot afford to be broken.

      The Treasury Department tried to assuage Democratic lawmakers with a letter claiming that no changes were being made to the system. But people familiar with the situation, who spoke on condition of anonymity to provide details that have not been made public, said Musk's team had been looking for ways to block USAID payments.

      'Half-jokingly, but also serious' White House press secretary Karoline Leavitt was asked on Fox News Channel why Trump nominated Linda McMahon as head of the Education Department when he had suggested shutting down the agency entirely.

      “You heard the president say half-jokingly, but also serious, he wants Linda McMahon, who will lead that agency, to put herself out of a job,” Leavitt said.

      Joking, but maybe not joking, is a favoured Trump tactic going back to his first term. And he's been doing it again.

      Asked about data and other key information disappearing from government websites as federal officials scrambled to comply with new Trump administration rules, the president said he didn't know. But, he added, "That doesn't sound like a bad idea.” He has also repeatedly laughed about seeking a third term as president — constitutional prohibitions be damned.

      “It will be the greatest honour of my life to serve not once but twice or three times or four times,” Trump said during a recent rally in Las Vegas. “No, it will be to serve twice.” At a House Republican meeting in Florida, Trump said he had leftover campaign funds that could go toward running for a third term. He joked that he assumed he could not “use for myself, but I'm not 100 per cent sure.” “Am I allowed to run again?” Trump asked House Speaker Mike Johnson, R-La. “Mike, I better not get you involved in that.” Gaza gobsmacker One area where it seemed like Trump might be joking — but insists he wasn't — is Gaza.

      Trump caused an uproar by suggesting that the US could seize long-term control of the war-ravaged territory, force its Palestinian population to live elsewhere — perhaps permanently — and use a massive redevelopment project to make it a tourist destination along the Mediterranean Sea.

      Secretary of State Marco Rubio later repeatedly suggested that any resettlement would be on an interim basis, and even Leavitt insisted that such a relocation would be temporary.

      But that only made Trump double down, saying that the US would “slowly and carefully begin the construction of what would become one of the greatest and most spectacular developments of its kind on Earth.” (AP) GSP

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