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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
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    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.

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      Youth Innovators Leverage Cross-Border Collaboration to Solve Shared Challenges at Climate Hack 2024

      February 28, 2025

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      Nine out of the ten shortlisted teams at Pitch Day comprised members from different countries.

      New Delhi, Delhi, India & Singapore – Business Wire India Three cross-border teams emerged as winners at the Singapore International Foundation’s (SIF) Climate Hack 2024 Pitch Day recently, marking the finale of the five-month programme which began in September 2024. First launched in 2021, Climate Hack aims to equip individuals in Asia with digital skills to develop and accelerate tech-driven solutions for climate change.

      The winning teams were represented by 13 youths from India, Indonesia, Malaysia, Pakistan, and the Philippines. The winning ideas included strategic cross-sector partnerships to ensure scalability, personalised user experiences to address unique needs, and more cost-effective alternatives to existing solutions.

      More than 300 youths from 27 countries participated in the programme to develop climate solutions. They received training from leading industry experts in areas such as digital proficiencies, problem-solving skills, entrepreneurial thinking, and best practices in presenting and marketing their ideas. Nine out of the ten shortlisted teams comprised youths from different countries, reflecting the criticality of collaboration in addressing climate challenges.

      Ms. Manvitha Yalamanchili, a member of Sustainloop and a Climate Hack 2024 winner from India said: “When I first connected with my teammates from Malaysia and the Philippines, we found that we shared the same dream of creating meaningful impact in the climate space despite coming from different countries. That is what brought us together to form Sustainloop. Our team’s diverse backgrounds allowed us to gain insights from different industries, and I am thrilled to have found inspiring mentors in my teammates.” Mr Jaryll Chan, SIF Executive Director, Programmes Division, said: “Climate change affects every single one of us as we live in an interconnected world. At the SIF, we believe in driving collaborations to develop solutions for a better world.” Winning Teams Announced at Pitch Day of Climate Hack 2024 At Pitch Day, 10 shortlisted teams presented their tech-driven solutions to a panel of judges. They addressed environmental challenges in areas such as natural resource management, land use, transport, waste management, and ecological economics.

      Three winning teams were chosen based on their creativity, persuasiveness, teamwork, and the impact and feasibility of their solution. They are: 1. E-Connect (Indonesia, Malaysia, Pakistan, and the Philippines) 2. SustainIQ (Indonesia, Malaysia, Pakistan, and the Philippines) 3. Sustainloop (India, Malaysia, and the Philippines) Additionally, Ecovolve (Cambodia, Indonesia, and Singapore), received the People’s Choice Award. The award was based on voting on social media leading up to Pitch Day and by the live audience during the event.

      All four teams will visit Singapore in March this year to learn more about the Singapore Green Plan 2030 – a whole-of-nation movement to advance Singapore’s national agenda on sustainable development.

      Ms Carla Gomez Briones, Climate and Sustainability Specialist, United Nations Development Program Global Centre for Technology, Innovation, and Sustainable Development (Singapore) was one of the judges at Pitch Day. She shared: “The ingenuity and depth of thought demonstrated by the teams have been truly inspiring. From tackling diverse challenges like natural resource management to rethinking waste systems, these young changemakers have shown a remarkable ability to innovate with purpose and impact. Their solutions not only address urgent climate issues but also reflect the power of collaboration across borders to create a sustainable future.” Ms Sheena Joy Palcis, a member of E-Connect from the Philippines said: “Climate Hack has helped me gain insights on turning my climate-resilient ideas into action. Through the workshops, I gained skills to develop an impactful and practical solution. The feedback and resources that I received from our mentors and trainers also helped to ensure that our team’s solution remains relevant amidst a rapidly evolving global landscape. There is still much to be done in building a more sustainable society, but I am hopeful for a brighter future with all the youth-led innovations that were presented at Pitch Day!” Climate Hack 2024 was organised in collaboration with key partners Action for Change in Southeast Asia (ActSEA), Kidzstarter, and Temporary Local. It was supported by volunteer trainers and mentors from IT consultancy Cognizant, social impact organisation DataKind Singapore, and volunteering platform TheOneHourProject, as well as individual professionals who volunteered in their own capacity.

      Since 2021, Climate Hack has trained close to 1,000 youths from 24 countries across Asia. Collectively, the programme’s participants have developed 130 digital prototypes and solutions to address climate-related challenges.

      In 2021, Climate Hack received the World Bank Digital Skills Innovation Award in the Lifelong Learning category for its programme innovation in advancing digital proficiencies in Asia.

      About the Singapore International Foundation The Singapore International Foundation aims to build eco-systems to catalyse change for a better world. We bring together people from the public, private, and philanthropic sectors across countries to harness the collective strength that is needed to address shared environmental and social challenges. Our work is focused in the areas of climate, digital, education, health, justice, and youth. We believe that cross-boundary collaboration is critical to foster sustainable solutions in an interconnected world. Find out more at www.sif.org.sg About Action for Change in Southeast Asia Action for Change in Southeast Asia (ActSEA) (formerly WISE - WASH in Southeast Asia) is a regional non-profit organisation that contributes towards an equitable and sustainable Southeast Asia by nurturing leaders who are empowered to effect change and amplify impact. Registered in Indonesia and Singapore, and active in the Philippines and Cambodia, ActSEA builds local teams that promote autonomy, professional development, and personal well-being, through community-centred initiatives, programmes, and projects.

      Sector-agnostic, its path is driven by the aspiration and needs of the communities they work with. Thus, ActSEA has worked on different areas (public health, environment, livelihoods, education, gender, disaster response) and utilised different approaches (community development, behaviour change, research, advocacy, research, capacity building).

      About Kidzstarter Kidzstarter is an entrepreneurial educational network dedicated to providing programs and initiatives that: 1. Support youths in developing transferable skills to navigate and transition into the future of work.

      2. Help corporations attract and retain young talent through tailored solutions.

      Their vision is to empower, enable, and equip 500,000 agents of change by 2030 with the knowledge, skills, and mindset needed to navigate the future of work. Kidzstarter aims to cultivate a dynamic and inclusive environment where these leaders are prepared to thrive in an ever-evolving global landscape through our programs, approach, and mentorship.

      About Temporary Local Temporary Local is a community platform focused on helping individuals to thrive with their social purpose and make this world a better place with a strong community. Through supporting Social Enterprises and capacity building individuals to be an active citizen, Temporary Local strives to forge a community of mutually supportive collaborators. Temporary Local curates experiences and opportunities to bridge the skill and community gaps within social issues.

      To View the Image, Click on the Link Below: Three teams, comprising 13 youths from five countries, emerged as winners at the Climate Hack 2024 Pitch Day event on 22 February 2025.

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

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