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    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
    Union Government releases tax devolution of ₹1,09,019 crore to State Governments, as one advance instalment to accelerate their capital and deve...
    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
    Rupee rises 31 paise to 95.12 against US dollar in early trade
    Customs seizes 8 kg gold worth over Rs 11 cr at Kerala airports in one week
    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
    Punjab GST revenue rises 20 pc to Rs 10,447 crore in April-July: Cheema
    India-China trade through Shipli La resumes after six years
    Odisha's export can reach USD 50 billion by FY 2029-30: Study
    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
    Gross GST mop-up grows 15.4 pc to over Rs 2.11 lakh cr in July on higher imports, sales
    Gross and Net GST revenue collections for the month of July, 2026
    India and Rwanda Hold First Joint Trade Committee Meeting to Deepen Bilateral Trade and Investment Cooperation
    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
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    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
    Show AI Summary
    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
    Show AI Summary
    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.

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      Trump's Oval Office thrashing of Zelenskyy shows limits of Western allies' ability to sway US leader

      March 1, 2025

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      Washington, Mar 1 (AP) All it took was 90 seconds for weeks of tortured diplomacy to unwind in spectacular fashion.

      President Donald Trump's Oval Office thrashing of Ukraine's Volodymyr Zelenskyy on Friday laid bare the limits of a full-court press by America's allies aimed at reshaping Trump's determination to end Russia's invasion even if the terms are not to Ukraine's liking.

      It also stressed the profound ways Trump feels emboldened to redirect US foreign policy priorities toward his “America First” agenda in ways that extend well beyond those of his tumultuous first term.

      The sudden blowup was the most heated public exchange of words between world leaders in the Oval Office in memory, as the usual staid work of diplomacy descended into finger-pointing, shouting and eye-rolling.

      The encounter left the future of the US-Ukraine relationship, and Kyiv's ability to defend itself in the brutal conflict with Russia, in mortal jeopardy.

      “You either make a deal or we are out,” Trump told Zelenskyy, underscoring the American leader's plans to dictate a swift end to the war or leave its longtime ally to continue the fight without its strongest backer.

      The stunning episode capped a week of what turned out to be largely futile efforts by US allies to paper over differences between Washington and Kyiv and to try to steer Trump away from his flirtations with Moscow.

      On Monday, French President Emmanuel Macron huddled with Trump to lay the groundwork for an eventual European-led peacekeeping force in Ukraine aimed at deterring future Russian aggression and to encourage the US president to be more sceptical of Vladimir Putin.

      But even as Trump and Macron greeted each other with a vise-like grip, the US was splitting with its European allies at the United Nations by refusing to blame Russia for its invasion of Ukraine in a series of resolutions marking the three-year anniversary of the war.

      On Thursday, British Prime Minister Keir Starmer visited Washington and appealed to Trump for a US “backstop” for European nations who would provide front-line security for Ukraine.

      He was in essence looking for insurance that, should a peace deal be reached, Russia won't restart the fighting in the future. Starmer brought flattery and a state visit invitation from King Charles III to soften the ask.

      The approach seemed to work, as Trump struck a more conciliatory tone toward Ukraine, calling America's support for the country against Russia's invasion “a very worthy thing to do” and disclaiming any memory that he had called the Ukrainian leader a “dictator”.

      But Trump also brushed aside Putin's past broken diplomatic promises, claiming they occurred under different presidents, and saying the Russian leader had never violated a commitment to him.

      It came as his aides were planning a series of negotiating sessions with Russian officials to lay the groundwork for a potential meeting between Trump and Putin in the coming weeks.

      All the while, Trump was focused on securing a financial stake in Ukraine's critical minerals to recoup the tens of billions the U.S. has given to Kyiv to defend itself.

      Zelenskyy, meanwhile, wanted more than Washington's vague promises that the US would work to preserve its economic interest in Ukraine under the agreement and pushed for more concrete security guarantees.

      But Trump would not budge, and US officials repeatedly said Zelenskyy would not be welcome to meet with the president to discuss Trump's push for negotiations with Russia until it was signed.

      After weeks of browbeating, Zelenskyy's government on Wednesday formally agreed to the proposal, clearing the path for Friday's meeting.

      It started off cordially enough, as Trump and Zelenskyy spoke politely, even with admiration, of one of another for the first half-hour of the meeting. Trump even suggested he would continue some military assistance to Ukraine until he could secure an enduring peace deal with Russia.

      But when the Ukrainian leader raised alarm about trusting any promises from Putin to end the fighting, Vice President JD Vance rebuked him for airing disagreements with Trump in public. It instantly shifted the tenor of the conversation.

      Zelenskyy grew defensive, and Trump and his vice president blasted him as ungrateful and “disrespectful” and issued stark warnings about future American support.

      South Carolina Sen. Lindsey Graham, both a defense hawk and a strident ally of Trump's, said he had warned Zelenskyy ahead of the meeting “not to take the bait” in his dealings with Trump, who has repeatedly shown a penchant for throwing criticism but a deep resistance to receiving it.

      It was Vance — a longtime critic of American support for Ukraine — who dangled it, when he insisted diplomacy was the only pathway forward.

      “What kind of diplomacy, JD, you are speaking about?” Zelenskyy said, listing Russia's past violations of ceasefires. “What do you mean?” “I'm talking about the kind of diplomacy that's going to end the destruction of your country,” Vance responded before tearing into the Ukrainian leader. “President, with respect, I think it's disrespectful for you to come into the Oval Office to try to litigate this in front of the American media.” Trump then let loose, warning the Ukrainian leader, “You're gambling with World War III, and what you're doing is very disrespectful to the country, this country that's backed you far more than a lot of people say they should have.” At another point, Trump declared himself “in the middle”, seeming to formally break from years of American support for Ukraine. He went on to deride Zelenskyy's “hatred” for Putin as a roadblock to peace.

      “You see the hatred he's got for Putin,” Trump said. “That's very tough for me to make a deal with that kind of hate.” “It's going to be a very hard thing to do business like this,” Trump said to Zelenskyy as the two leaders talked over each other.

      The episode was just the latest instance of Trump's brazen moves to shift long-held American policy positions in his first six weeks back in office, portending even more uncertainty ahead for longtime American allies and partners who have already felt pressed to justify their place in Trump's eyes.

      It comes just weeks after Trump floated a permanent relocation of Palestinians in Gaza and an American takeover of the territory, and as he has doubled down on plans to put stiff tariffs on goods from Mexico and Canada starting next week.

      After the Oval Office dustup, Zelenskyy was asked to leave the White House by top Trump advisers — scrapping plans for a lunch, a joint press conference and the signing of the economic agreement, even as the Ukrainian leader and his aides pushed for a “reset” on the meeting.

      Trump later told reporters he didn't want to “embolden” the Ukrainian leader if he didn't want “peace” with Russia — flipping what Ukraine had seen as an inducement for security guarantees into a cudgel.

      “You can't embolden somebody who does not have the cards,” Trump said.

      After the disastrous encounter, Zelenskyy appeared on Fox News on Friday evening and told Bret Baier that his public spat with Trump and Vance was “not good for both sides”.

      But Zelenskyy said Trump — who insists Putin is ready to end the three-year grinding war — needs to understand that Ukraine can't change its attitudes toward Russia on a dime.

      Zelenskyy added that Ukraine won't enter peace talks with Russia until it has security guarantees against another offensive.

      “Everybody (is) afraid Putin will come back tomorrow,” Zelenskyy said. “We want just and lasting peace.” “It's so sensitive for our people,” Zelenskyy said. “And they just want to hear that America (is) on our side, that America will stay with us. Not with Russia, with us. That's it.” Zelenskyy acknowledged that without US support, his country's position would grow “difficult”.

      After repeatedly declining opportunities to apologise to Trump, Zelensky closed his Fox appearance with a sheepish expression of remorse as he struggled with the reality of Trump's new direction in Washington: “Sorry for this." (AP) PY PY

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