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    Sensex falls 188 pts amid elevated crude oil prices; Tata Group stocks decline after N Chandra's exit
    SJM urges govt to stand firm against US tariff pressure, calls for boycott of American products
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls for Fair Trading Practices and Taking ‘Make in India’ from Local to Global
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman delivers keynote address at Seminar on “Role of the New Development Bank in M...
    Delhi HC halts processing of IT-returns of Supreme Court, high court judges
    Over 36,000 firms shut operations in Maharashtra in 5 yrs; Oppn claims graft, govt interference
    Powering India's Energy Freedom
    Fourth Session of the India-Namibia Joint Trade Committee held in New Delhi
    Winning in the AI Era: The New Playbook for Indian Banks - Inaugural Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the FIBAC 202...
    Assam Cabinet okays funds for land acquisition for Guwahati satellite city
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case; sent to 7 days' custody
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    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
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    August 12, 2026
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    Elevated crude oil prices and Tata leadership transition drove broad equity market selling amid inflation concerns.
    Indian equity markets declined amid elevated crude oil prices, inflation concerns and broad risk-off selling. Tata Group shares, particularly TCS, came under pressure after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends. Crude oil prices approaching the USD 90-per-barrel level affected investor confidence because of potential inflationary effects, while uncertainty over United States-Iran negotiations and Strait of Hormuz shipping disruptions added to global energy market concerns.
    August 12, 2026
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    Trade sovereignty and energy security underpin calls to resist tariff pressure and protect sensitive sectors in bilateral negotiations.
    Trade sovereignty and energy security are advanced as grounds for resisting tariff pressure linked to Indian purchases of Russian crude. Bilateral trade negotiations should proceed through equality, reciprocity and mutual respect without compromising agriculture, dairy, energy security or strategic autonomy. Concerns are also raised over removal of e-commerce inventory restrictions for foreign direct investment and over proposed Merchant Discount Rate charges on UPI transactions. Withdrawal of the inventory measure and opposition to payment-provider charges are urged, alongside possible restrictions on United States technology and social-media companies and consumer boycotts of American goods and services.
    August 12, 2026
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    Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
    Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
    August 12, 2026
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    Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
    Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
    August 12, 2026
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    Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
    Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
    August 12, 2026
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    Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
    Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
    August 12, 2026
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    Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels.
    CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
    August 12, 2026
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    Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
    India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
    August 12, 2026
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    AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
    AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
    August 11, 2026
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    Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
    Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
    Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
    August 11, 2026
    Show AI Summary
    GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
    Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
    August 11, 2026
    Show AI Summary
    Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
    Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
    August 11, 2026
    Show AI Summary
    Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
    Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
    August 11, 2026
    Show AI Summary
    Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
    Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
    August 11, 2026
    Show AI Summary
    Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
    PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
    August 11, 2026
    Show AI Summary
    MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
    GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
    August 11, 2026
    Show AI Summary
    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
    Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
    August 11, 2026
    Show AI Summary
    Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
    NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
    August 11, 2026
    Show AI Summary
    Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
    Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.

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      Top Russian, US officials discuss improving ties and ending Ukraine war - without Kyiv

      February 18, 2025

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      Riyadh, Feb 18 (AP) The top diplomats from Russia and the US met Tuesday in Saudi Arabia to discuss improving ties and negotiating an end to the war in Ukraine — talks that reflected a major and rapid change in American foreign policy under President Donald Trump.

      No Ukrainian officials were present at the meeting, which came as the beleaguered country is slowly but steadily losing ground against more numerous Russian troops in a grinding war that began nearly three years ago.

      President Volodymyr Zelenskyy said his country won't accept any outcome from this week's talks if Kyiv doesn't take part. European allies have also expressed concerns they are being sidelined.

      Beyond Ukraine, the meeting — attended by US Secretary of State Marco Rubio, Russian Foreign Minister Sergey Lavrov and other senior officials — had been expected to focus on thawing relations between the two countries, whose ties have fallen to their lowest level in decades.

      Improving Russian-US relations In an interview with The Associated Press after the meeting, Rubio said the two sides agreed broadly to pursue three goals: to restore staffing at their respective embassies in Washington and Moscow, to create a high-level team to support Ukraine peace talks, and to explore closer relations and economic cooperation.

      Both embassies have been hit hard by expulsions of large numbers of diplomats over the course of several years as relations soured and the US, along with European nations, imposed a raft of sanctions on Russia. The allies have repeatedly expanded the measures to damage its economy.

      “Should this conflict come to an acceptable end, the incredible opportunities that exist to partner with the Russians geopolitically on issues of common interest and frankly, economically on issues that hopefully will be good for the world and also improve our relations in the long term,” Rubio said.

      His remarks were further evidence of the remarkable US reversal on Russia after years in which Trump's predecessor led international efforts to isolate Moscow.

      Tuesday's meeting was meant to pave the way for a summit between Trump and Russian President Vladimir Putin. After the talks wrapped, Putin's foreign affairs advisor, Yuri Ushakov, told Russia's Channel One that no date has been set yet for that summit but that it was “unlikely” to take place next week.

      Ushakov's remarks suggested the two sides made little progress. Russia and the United States agreed to “take each other's interests into account” and advance their relations. He added that it was “hard to say” that the two countries' positions “are getting closer, but there was talk about it.” Previously, Kremlin spokesman Dmitry Peskov told reporters that the talks would be primarily focused on “restoring the entire range of US-Russian relations, as well as preparing possible talks on the Ukrainian settlement and organizing a meeting of the two presidents.” US State Department spokeswoman Tammy Bruce has said the meeting was aimed at determining how serious the Russians are about wanting peace and whether detailed negotiations can be started.

      Concerns from allies they are being sidelined The recent US diplomatic blitz on the war has sent Ukraine and key allies scrambling to ensure a seat at the table amid concerns that Washington and Moscow could press ahead with a deal that won't be favorable to them.

      Kyiv's absence at Tuesday's talks has rankled many Ukrainians, and France called an emergency meeting of European Union countries and the UK on Monday to discuss the war.

      Rubio said Tuesday that ending Russia's war in Ukraine would require concessions from all sides and that Europe would be a part of talks.

      When asked about sanctions against Russia, Rubio noted that the measures were imposed as a result of Russia's invasion and that it's not just the US that has imposed them.

      “The European Union is going to have to be at the table at some point because they have sanctions as well that have been imposed,” he said.

      Kyiv's participation in such talks was a bedrock of U.S. policy under Joe Biden, whose administration also led international efforts to isolate Russia over the war.

      French President Emmanuel Macron on Tuesday said he spoke by phone to Trump and Zelenskyy following the meeting he called in Paris.

      “We seek a strong and lasting peace in Ukraine,” Macron wrote on social media platform X. “To achieve this, Russia must end its aggression, and this must be accompanied by strong and credible security guarantees for the Ukrainians,” he said and vowed to “work on this together with all Europeans, Americans, and Ukrainians.” Peskov on Tuesday said that Putin has repeatedly expressed readiness for peace talks, and noted that a durable settlement of the conflict in Ukraine would be impossible without “a comprehensive consideration of security issues” in Europe.

      Saudi Arabia's role The meeting at the Diriyah Palace in the Saudi capital of Riyadh also highlights de facto leader Crown Prince Mohammed bin Salman's efforts to be a major diplomatic player, burnishing a reputation severely tarnished by the 2018 killing of Washington Post journalist Jamal Khashoggi.

      Saudi state media described the talks as happening at the prince's direction. Like the neighbouring United Arab Emirates, the prince has maintained close relations to Russia throughout its war on Ukraine, both through the OPEC+ oil cartel and diplomatically as well.

      Saudi Arabia has also helped in prisoner negotiations and hosted Zelenskyy for an Arab League summit in 2023. Zelenskyy said he would travel to the kingdom later this week.

      Rubio was accompanied by U.S. national security adviser Mike Waltz and special envoy Steve Witkoff, while Lavrov sat next to the Kremlin's foreign affairs adviser, Yuri Ushakov. Saudi Foreign Minister Faisal bin Farhan and national security adviser Musaed al Alban joined Rubio, Lavrov and others for the start of the meeting but were expected to leave early in the talks.

      Ahead of the talks, Kirill Dmitriev, the head of Russia's sovereign wealth fund who the Kremlin said might join, underscored the importance of the meeting.

      “Good US-Russia relations are very important for the whole world. Only jointly can Russia and the US address lots of world problems, resolve for global conflicts and offer solutions,” Dmitriev, who said he and his team would focus on economic issues at the talks, told the AP.

      The meeting marked the most extensive contact between the two countries since Moscow's Feb. 24, 2022, invasion. Lavrov and then-US Secretary of State Antony Blinken talked briefly on the sidelines of a G-20 meeting in India nearly two years ago, and in the fall of 2022, US and Russian spymasters met in Turkey amid Washington's concerns that Moscow could resort to nuclear weapons amid battlefield setbacks.

      War continues Meanwhile, Russia continued to pummel Ukraine with drones, according to Kyiv's military. The Ukrainian air force said Russian troops launched a barrage of 176 drones at Ukraine overnight, most of which were destroyed or disabled by jamming.

      One Russian drone struck a residential building in Dolynska in the Kirovohrad region, wounding a mother and her two children and prompting an evacuation of 38 apartments, the regional administration reported. Four more residential buildings were damaged by drone debris in the Cherkasy region of Ukraine, according to local official. (AP) GSP

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