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    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    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
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    Show All SummariesHide All Summaries
    August 14, 2026
    Show AI Summary
    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
    Show AI Summary
    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
    Show AI Summary
    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
    Show AI Summary
    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
    Show AI Summary
    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
    Show AI Summary
    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
    Show AI Summary
    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
    Show AI Summary
    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs & Trade

      Trump begins address to Congress following his tumultuous first weeks in office

      March 5, 2025

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      Washington, Mar 5 (AP) President Donald Trump has begun his address to Congress and the American people, laying out his plans for the months ahead.

      Trump's dizzying first weeks in office have featured a dismantling of the federal government, tensions with America's allies and a trade war compounding economic uncertainty.

      Here's the latest: Democrats invoke Trump's Jan. 6 pardons as he talks about law and order' Rep. Veronica Escobar, D-Texas., first shouted “January 6th” as Trump recounted his plans for combatting crime throughout the country. At least a dozen Democrats joined in the repeated chant as Trump discussed the need to crack down on violent criminals.

      Trump pardoned around 1,500 rioters who stormed the US Capitol building on Jan. 6, 2021, in a bid to overturn the results of the 2020 election.

      Trump's Democratic rivals are fundraising off his speech “HOLY COW!!!!!” reads the subject line of an email from former Vice President Kamala Harris seeking contributions to the Democratic National Committee.

      Harris and the Democratic Party's prodigious fundraising operation raised more than $1 billion in their campaign against Trump. But the former vice president has continued to solicit contributions under the “Harris Fight Fund.” That's the post-election label for the “Harris Victory Fund,” a joint fundraising operation of Harris' campaign, the DNC and state Democratic parties.

      Trump echoes campaign rhetoric with law and order' message “As we reclaim our sovereignty, we must also bring back law and order to our cities and towns," he said. "In recent years, our justice system has been turned upside down by Radical Left lunatics." Trump has long promoted a tough-on-crime agenda and sought to paint Democratic-led cities as besieged by violence, despite statistics showing a downward trend in violent crime after a spike during the coronavirus pandemic.

      Trump's comments also echo his campaign trail rhetoric about the need for more aggressive policing. He suggested last year that “one rough hour” of law enforcement action would tamp down retail theft. He has also advocated for ensuring that officers “have immunity from prosecution.” Trump lauds his wife's work to criminalise revenge porn Trump praised his wife for lobbying for a bill that would make it a federal crime to post intimate imagery online, whether real or fake. He thanked the Senate for passing the measure.

      The president called it a “terrible, terrible thing” to publish such images online. He then seemingly joked: “I'm going to use that bill for myself, too, if you don't mind.” Trump says tariffs make Americans rich, while economists say his taxes make people poorer “Tariffs are about making America rich again and making America great again," Trump said. "And it's happening. And it will happen rather quickly. There'll be a little disturbance, but we're okay with that. It won't be much.” Trump is banking on the idea that taxing imports is the road to riches for the United States. Most economists say Trump's tariffs would hurt the country, as they're tax increases that could raise the costs of goods in ways that could also harm economic growth. Trump suggests that the impact on inflation would be minimal.

      When the Yale University Budget Lab looked at the tariffs that Trump imposed Tuesday on Canada, Mexico and China, it found that inflation would increase a full percentage point, growth would fall by half a percentage point and the average household would lose about $1,600 in disposable income.

      Trump says agricultural products imported from abroad may be very dirty and disgusting' “Those goods that come in from other countries and companies, they're really, really in a bad position in so many different ways," Trump said. "They're uninspected. They may be very dirty and disgusting as they come in and they pour in and they hurt our American farmers.” Laying out more details on how he plans to stimulate the farming economy, Trump argued that increasing US tariffs on agriculture products from abroad would protect domestic producers at home while acknowledging, “It may be a little bit of an adjustment period.” But tariffs wouldn't necessarily stop farm products from coming aboard, only make them more expensive for US consumers.

      Trump's immigration fast-track for rich immigrants Trump is touting a plan he announced on Feb. 26 to offer a “gold card” for prospective rich immigrants.

      “For $5 million, we will allow the most successful job creating people from all over the world to buy a path to US citizenship," Trump said. "It's like the green card, but better and more sophisticated." The programme will replace an existing one offering US visas to investors who spend about $1 million on a company that employs at least 10 people.

      Under Trump's plan, investors would have to pony up $5 million. They would have to pay taxes in the US, Trump said.

      More than 100 countries around the world have something similar.

      But some countries, including Spain and the US, have ended their programmes. Spain's programme was criticised for causing soaring housing prices, while there were security concerns over the UK programme.

      Trump brags about gender policy “I signed an order making it the official policy of the United States government that there are only two genders, male and female," he said.

      Trump's order actually states that there are only two immutable sexes, and it was one of a series Trump has signed that target the rights of transgender people.

      The orders paved the way for kicking transgender people out of the military, denying changes to the sex marker on passports and erasing any mention of transgender people from a website commemorating the Stonewall riot, among others. And they're facing legal challenges.

      Two judges in the past week have kept on hold a policy to block federal funding for gender-affirming health care for transgender people under age 19.

      Trump says Democrats will pay a price for opposing his tax cuts, but the record suggests otherwise Trump taunted Democrats for opposing his tax cut plans, which could cost anywhere from $5 trillion to $11 trillion over 10 years, according to the Committee for a Responsible Federal Budget, a fiscal watchdog.

      “I'm sure you're going to vote for those tax cuts because otherwise I don't believe the people will ever vote you into office," he said.

      Of course, Democrats know what happened after they opposed Trump's 2017 tax cuts, many of which are set to expire next year because they were funded through debt. There was no political penalty for opposing Trump's cuts that Democrats portrayed as favoring those with extreme wealth.

      In the 2018 midterms, Democrats picked up a majority by gaining 40 seats, their strongest gain since the 1974 elections.

      Trump says tariffs will help farmers, but farmers brace for uncertainty Trump said farmers need to “bear with me again” as he imposes tariffs.

      “I love the farmer,” he said.

      But the retaliatory action from other countries could hurt farmers' bottom lines by billions of dollars collectively if they remain in place long term, and consumers could quickly see that result in higher prices at the grocery store.

      The exact toll is hard to predict at this stage. But tariffs make farmers uneasy about investing in expensive equipment.

      “Farmers are very concerned,” said Steve Kuiper, a director at the Iowa Corn Growers Association.

      Trump dismisses the African nation of Lesotho Trump said: “$8 million to promote LGBTQI+ in the African nation of Lesotho, which nobody has ever heard of.” Trump cited the funding as an example of government waste uncovered by his administration and the Department of Government Efficiency.

      Trump's move to freeze foreign aid has significantly impacted a program that fights HIV in Lesotho, a poor nation in southern Africa. The program was started by Trump's Republican predecessor, former President George W. Bush.

      Trump calls out woman injured by transgender athlete One of Trump's orders is intended to ban transgender athletes from participating in girls' and women's sports. At least 24 states have already passed similar laws and a federal version sputtered this week in the US Senate.

      “From now on, schools will kick the men off the girls team or they will lose all federal funding," Trump said during his speech.

      Like others, he portrays the order as a way to protect girls and women.

      In the audience was Payton McNabb, a former North Carolina high school athlete who suffered a concussion and neck injury that ended her athletic career after a ball hit by a transgender athlete struck her in a 2022 match.

      The president of the NCAA said last year he was aware of fewer than 10 active NCAA athletes who identified as transgender.

      No checks for dead people Trump said: “Believe it or not, government databases list 4.7 million Social Security members from people aged 100 to 109 years old. It lists 3.6 million people from ages 110 to 119.” The databases may list those people, but that does not mean they are getting paid benefits, as Trump implied.

      Social Security's acting administrator, Lee Dudek, said last month: “The reported data are people in our records with a Social Security number who do not have a date of death associated with their record. These individuals are not necessarily receiving benefits.” Part of the confusion comes from Social Security's software system, which is based on the COBOL programming language and has a lack of date type. This means that some entries with missing or incomplete birthdates will default to a reference point of more than 150 years ago.

      Republicans cheer on Musk Multibillionaire Elon Musk stood at Trump's invocation of his Department of Government Efficiency.

      The tech mogul waved as Republicans in the chamber cheered him. (AP) AMS AMS

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