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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
    Airtel ends all prepaid mobile plans offering 1.5 GB data per day with unlimited calls
    ED arrests IBC resolution professional
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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
    Show AI Summary
    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
    Show AI Summary
    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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      ABP Network's Ideas of India 2025 Spotlights India as the 'Force for Good' and Explores 'Humanity's Next Frontier' in the Fourth Edition of its Flagship Initiative

      February 27, 2025

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      Mumbai, Maharashtra, India (NewsVoir) • Union Minister of Commerce & Industry Piyush Goyal: "It would be great if Tesla manufactures in India. Moving towards electric mobility is beneficial, and if it aligns with national interest, it’s even better." • Ambassador Kurt Volker: “India is a rising power that comes across a friendly state with shared values. President Trump personally likes Prime Minister Narendra Modi but that doesn’t stop his transnationalism.” • Dr. Shashi Tharoor pointed out that the desperation of people from Punjab and Gujarat to migrate reflects a deeper crisis rather than mere aspiration.

      • Dr. (Prof.) Venki Ramakrishnan, Nobel Prize-winning Biologist, and Former President, The Royal Society: “One stark reality is that wealth plays a role in longevity as rich people tend to live 10 to 15 years longer than the poor.

      • Dr. Manish Gupta, Senior Director at Google DeepMind, said, “India is not a poor country anymore, and we must take bold steps in developing our foundational AI models.

      • Dr. Goutam Chattopadhyay, Senior Scientist at NASA's Jet Propulsion Laboratory and Visiting Professor at Caltech: “Sunita Williams’ return was delayed due to a technical glitch, but on March 19, they will be safely back home.” • Leander Paes: “We start scouting for talent quite late. As a nation, if we embrace sports science and incorporate DNA testing to assess young athletes whose abilities align with geographical genetics, I believe we can truly make a difference” • Prof. Ashwani Mahajan, Author, Columnist, and National Co-convenor of Swadeshi Jagran Manch dismissed negative global narratives on India’s poverty, calling them a conspiracy to undermine progress, while Dr. Ashima Goyal Economist and Member of India’s Monetary Policy Committee highlighted that poverty has dropped from 30% to 5%, a historic achievement.

      As India navigates global disruptions while striving to achieve its growth objectives on the path to its centennial milestone as an independent nation in 2047, ABP Network, the country's leading multi-language news network, launched the fourth edition of ABP Network's Ideas of India 2025 in Mumbai. The two-day long summit was hailed by masses for discussing global movement towards 'Humanity's Next Frontier', and witnessed the convergence of inspiring ideas from the foremost icons leading the charge to make our nation a 'force for good'.

      The summit hosted over 30 thought-provoking sessions with over 50 esteemed speakers exploring India's role in global socio-cultural, economic and scientific evolution and its future as a global stabilizer in geopolitical affairs. Through the two days, the initiative witnessed the convergence of ideas flowing from policy makers, International experts, social activities, spiritual thinkers, entrepreneurs, business leaders, investors, film stars and celebrities, sports icons, and musicians from all over India who share soul stirring perspectives and stories for people to reflect and action.

      Union Minister of Commerce & Industry, Piyush Goyal emphasized the strong India-U.S. partnership, calling the two nations "force multipliers" rather than competitors. Addressing U.S. tariffs, he reassured that India’s industry is resilient and optimistic about bilateral trade. On Tesla and ‘Make in India’, he said, "It would be great if Tesla manufactures in India. Moving towards electric mobility is beneficial, and if it aligns with national interest, it’s even better." Dr. Shashi Tharoor, Author, Politician, and Former International Diplomat, highlighted the paradox of India’s growth story, where economic expansion coexists with rising unemployment and social crises. He pointed out that the desperation of people from Punjab and Gujarat to migrate reflects a deeper crisis rather than mere aspiration. Emphasizing the plight of migrants, he called for investment, employment, and entrepreneurship to ensure migration is a choice, not a necessity. He condemned the demeaning deportation of illegal immigrants, advocating for dignity in repatriation. Tracing India’s historical migration, he noted how Indian laborers and professionals have shaped global economies, citing the resilience of past generations. On India-Canada relations, he took a firm stance against Khalistani extremism, calling for stricter action.

      Prof. Ashwani Mahajan, Author, Columnist, and National Co-convenor of Swadeshi Jagran Manch, and Dr. Ashima Goyal, Economist and Member of India’s Monetary Policy Committee, addressed India’s economic transformation, poverty reduction, and job market shifts. Prof. Mahajan dismissed negative global narratives on India’s poverty, calling them a conspiracy to undermine progress, while Dr. Goyal highlighted that poverty has dropped from 30% to 5%, a historic achievement. She emphasized India’s stable, high growth rate averaging 8.3% over three years, leading to a 10% rise in job creation. On youth unemployment, she pointed out that job seekers often refuse opportunities, preferring government jobs for their security. Discussing freebies, Dr. Goyal warned that excessive welfare spending limits infrastructure investment, while Prof. Mahajan criticized "Revdi Culture" for bankrupting states like Andhra Pradesh and Punjab.

      Discussing the developments in United States since Donald Trump assumed office, Ambassador Kurt Volker, said, “For Donald Trump, unpredictability is deliberate tactics to create uncertainty and he likes to shock people by saying provocative things to make people react.” He further added, “For Trump, to end the war one has to stop Russia which no one was doing. He also wants Ukraine to pay back to United States for the help it offered.” On India, he said, “India is a rising power that comes across a friendly state with shared values. President Trump personally likes Prime Minister Narendra Modi but that doesn’t stop his transnationalism.” Speaking in the session “The Science of Ageing- The Yearning for Immortality”, Dr. (Prof.) Venki Ramakrishnan, Nobel Prize-winning Biologist, and Former President, The Royal Society, said, “One stark reality is that wealth plays a role in longevity as rich people tend to live 10 to 15 years longer than the poor. We now understand why exercise, a good sleep cycle, and other healthy habits help slow aging. Avoiding social isolation and maintaining a sense of purpose is crucial. Early health screenings, such as for diabetes, can make a significant difference in ageing.” Speaking on the topic ‘Transforming India with AI: Why We Need More Data’, Dr. Manish Gupta, Senior Director at Google DeepMind, said, “India is not a poor country anymore, and we must take bold steps in developing our foundational AI models. AI is accelerating progress on a range of critical problems, from drug discovery and plastic pollution to structural biology. Innovations like AlphaFold are helping us solve complex scientific challenges faster than ever before.” Dr. Goutam Chattopadhyay, Senior Scientist at NASA's Jet Propulsion Laboratory and Visiting Professor at Caltech was speaking in the session, ‘Transforming India with AI: Why We Need More Data’, when he confirmed, “NASA is not keeping Sunita Williams in space. Sunita Williams’ return was delayed due to a technical glitch, but on March 19, they will be safely back home.” He added, “ISRO and NASA are collaborating on a project right now. ISRO is doing great and executing successful missions. Astronomy truly opens up your vision to the universe and it is a big mystery that we are trying to solve.” In a mega sporting panel, Viswanathan Anand, 5-time World Chess Champion, Padma Vibhushan, Padma Bhushan, Padma Shri and Arjuna Awardee; Geet Sethi, 9-Time World Champion of Billiards/Snooker and Founder of Olympic Gold Quest; Prakash Padukone, All England Open Badminton Champion, Padma Shri and Arjuna Awardee; Leander Paes, Indian Olympic Medalist, Grand Slam Winner, International Tennis Hall of Fame member, and Entrepreneur, Founder of Flying Man Ventures discussed the next frontiers of sports in India.

      Leander Paes said, "I am concerned about tennis. Our association is currently facing the Supreme Court. We should learn from what the BCCI has done for cricket and follow its model of establishing hundreds of cricket clubs in every region of India. We start scouting for talent quite late. As a nation, if we embrace sports science and incorporate DNA testing to assess young athletes whose abilities align with geographical genetics, I believe we can truly make a difference.” Geet Sethi added, “The reason why we are not producing Olympic level sportspersons is that sports in India don’t have the money for the talent to be nurtured. Socioeconomics, genetics, and subconscious self-belief are the three things which will drive India to sporting excellence.” Prakash Padukone said, “We have abundant talent in the country, but many previously lacked opportunities. Over the last 15 years, this has changed significantly. The sports federations must be professionalized. Talent is not the issue, nor is funding a problem now. The government is doing its part, and people are receiving support, but it is crucial that sports federations become more involved. These federations need to operate like corporations. Federations control the sports. It is their responsibility to encourage and promote sports.” Viswanathan Anand, said, "In India, I work to identify talent and provide them with all the resources they need. Winning medals will inspire more people to take up sports as a career option. When sports become a mass movement in our country, that's when true transformation will happen. Currently, we are competitive in sports but often miss out narrowly. We shouldn’t be satisfied with these close misses; that's how we will grow as a sporting nation. In India, federations should be reformed to become more accommodating and spontaneous. Many chess players have started their own academies.” ABP Network's Ideas of India 2025, centred around the theme ‘Humanity’s Next Frontier’, will bring together thought leaders and innovators to explore the challenges and opportunities posed by India’s rise in a rapidly evolving world. In the face of climate change, geopolitical conflicts, and technological advancements such as AI, the summit delved into India’s role as both an ancient civilisation and a demographic powerhouse in shaping the future. The two-day summit gathers a confluence of ideas from global thought leaders, intellectuals, and change makers, covering transformative possibilities in science, medicine, social contracts, and global leadership, with experts from diverse fields offering bold visions for a better, more sustainable world for all.

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

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