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    Japan reports record exports, imports for July as energy costs climb
    Five held in UP's Bareilly for alleged fake Ayushman cards racket
    MSMEs are the true builders of India’s economic resilience: LG Sinha
    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
    Bihar Police arrests man over alleged exam irregularities
    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
    RBI minutes: Governor Malhotra awaits more clarity on inflation, opts for rate hold
    Instant Credit Card Application With JioFinance: Step-by-Step Guide
    Union Minister of Commerce & Industry Shri Piyush Goyal leaves for Singapore for 4th India-Singapore Ministerial Roundtable and 4th India-Singapore Bu...
    IDFC FIRST Bank successfully accesses international debt capital markets with maiden US$500 million bond issuance
    Any attempt to defame CAS by manipulation will be dealt with sternly, warns Sebi's Pandey
    Rupee falls 2 paise to settle at 95.76 against US dollar
    QualityKiosk Establishes Hyderabad Engineering Hub to Advance AI Reliability, Agentic Engineering and AI Assurance for Global Enterprises
    ED raids SP leader Azam Khan's Trust and university in UP
    Rupee rises 1 paisa to 95.73 against US dollar in early trade
    CCI approves acquisition of 23% equity shareholding of TM International Logistics by Tata Steel Ltd
    CCI approves acquisition of additional shareholding of Acko Technology & Services Pvt Ltd. by General Atlantic Singapore ACK Pte. Ltd
    Union Minister of Commerce & Industry Shri Piyush Goyal invites Japanese businesses to deepen investments and partnerships in India
    Department of Commerce Organises Awareness Session on EU CBAM Regulations for Exporters
    PSB Confluence 2026 concludes with actionable strategies across seven themes for Public Sector Banks and Public Financial Institutions
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    August 19, 2026
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    Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
    Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
    August 19, 2026
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    MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
    MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
    August 19, 2026
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    Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
    Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
    August 19, 2026
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    Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
    Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
    August 19, 2026
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    Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
    UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
    August 19, 2026
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    Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
    Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
    August 19, 2026
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    Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
    Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
    August 19, 2026
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    Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
    India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
    August 19, 2026
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    International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
    IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
    August 19, 2026
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    Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
    Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
    August 19, 2026
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    Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
    Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
    August 19, 2026
    Show AI Summary
    AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
    QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
    August 19, 2026
    Show AI Summary
    Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
    Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
    August 19, 2026
    Show AI Summary
    Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
    Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
    August 19, 2026
    Show AI Summary
    Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
    Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
    August 19, 2026
    Show AI Summary
    Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
    Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
    August 19, 2026
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    India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
    India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
    August 19, 2026
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    Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
    European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
    August 19, 2026
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    Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
    Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.

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      Customs & Trade

      Trump criticises high tariffs charged by India, announces reciprocal tariffs from April 2

      March 5, 2025

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      New York/Washington, Mar 5 (PTI) US President Donald Trump criticised the high tariffs charged by India and other countries, terming them as “very unfair” and announced reciprocal tariffs from April 2 on nations that impose levies on American goods.

      Trump made these remarks in an address to the Joint Session of the Congress on Tuesday. It was the first address of his second term in the White House. On January 20, Trump was sworn in as the 47th President of the US.

      “If you don’t make your product in America, however, under the Trump administration, you will pay a tariff and in some cases, a rather large one," Trump said. "Other countries have used tariffs against us for decades and now it’s our turn to start using them against those other countries. On average, the European Union, China, Brazil, India, Mexico and Canada — have you heard of them? And countless other nations charge us tremendously higher tariffs than we charge them," Trump said.

      "It’s very unfair. India charges us auto tariffs higher than 100 per cent." In February, President Trump said that his administration would “soon” impose reciprocal tariffs on countries such as India and China, reiterating what he had said during Prime Minister Narendra Modi's visit to the US capital last month.

      Trump has made it clear to Prime Minister Modi that India will not be spared from Washington's reciprocal tariffs and emphasised that “nobody can argue with me” on tariff structure.

      "China’s average tariff on our products is twice what we charge them. And South Korea’s average tariff is four times higher. Think of that. Four times higher. And we give so much help militarily and in so many other ways to South Korea. But that’s what happens. This is happening by friend and foe," Trump said.

      "We've been ripped off for decades by nearly every country on earth, and we will not let that happen any longer,” Trump said.

      Asserting that this system is "not fair to the United States" and never was, Trump said that reciprocal tariffs will kick in from April 2.

      "Whatever they tariff us, other countries, we will tariff them. That’s reciprocal, back and forth,” Trump said amid applause from Republican lawmakers.

      "Whatever they tax us, we will tax them. If they do non-monetary tariffs to keep us out of their market, then we will do non-monetary barriers to keep them out of our market. There’s a lot of that too. They don’t even allow us in their market. We will take in trillions and trillions of dollars and create jobs like we have never seen before," Trump said.

      He added that "I did it with China, and I did it with others and the Biden administration couldn't do anything about it because it was so much money they couldn’t do anything about it." He added that the US has very large deficits with both Mexico and Canada.

      "But even more importantly, they have allowed fentanyl to come into our country at levels never seen before, killing hundreds of thousands of our citizens and many very young, beautiful people, destroying families. Nobody’s ever seen anything like it. They are in effect receiving subsidies of hundreds of billions of dollars. We pay subsidies to Canada and to Mexico of hundreds of billions of dollars. And the United States will not be doing that any longer. We are not going to do it any longer." Trump is implementing a 25 per cent additional tariff on imports from Canada and Mexico and a 10 per cent additional tariff on imports from China. In a retaliatory action, Canada said that effective March 4, 2025, it is imposing 25 per cent tariffs on USD 30 billion in goods imported from the United States.

      Mexico said it will announce reciprocal action on Sunday.

      China also announced it will impose additional tariffs of up to 15 per cent on imports of key US farm products.

      In the past, Trump has called India “tariff king" and a "big abuser”.

      Last month, during a joint press conference with Prime Minister Modi in the White House, Trump had said that India has “been very strong on tariffs”, and “I don’t blame them, necessarily, but it’s a different way of doing business. It’s very hard to sell into India because they have trade barriers, very strong tariffs.” Trump had noted that as a signal of good faith, Modi had recently announced the reductions to India’s “unfair, very strong tariffs” that limit US access into the Indian market very strongly.

      "And really, it’s a big problem, I must say. India imposes a 30 to 40 to 60 and even 70 per cent tariff on so many of the goods and, in some cases, far more than that. As an example, a 70 per cent tariff on US cars going into India, which makes it pretty much impossible to sell those cars." Trump had said that the US trade deficit with India is almost USD 100 billion, and Modi and he agreed that “we’ll begin negotiations to address the long-running disparities that should have been taken care of over the last four years — but they didn’t do that — in the US-India trading relationship, with the goal of signing an agreement." "And we want — really, we want a certain level playing field, which we really think we’re entitled to, and he does also, in fairness, so we’re going to work on that very hard," Trump said.

      Commerce Minister Piyush Goyal is in Washington for trade talks with his US counterpart Howard Lutnick.

      As per US estimates, the US total goods trade with India was an estimated USD 129.2 billion in 2024.

      The US goods exports to India in 2024 were USD 41.8 billion, up 3.4 per cent (USD 1.4 billion) from 2023. US goods imports from India totalled USD 87.4 billion in 2024, up 4.5 per cent (USD 3.7 billion) from 2023. The US goods trade deficit with India was USD 45.7 billion in 2024, a 5.4 per cent increase (USD 2.4 billion) over 2023. PTI YAS AMS

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