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    Punjab Assembly passes nine key bills
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    'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
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    Parliament passes The Bankers' Books Evidence Bill, 2026
    DRI uncovers another clandestine drug manufacturing unit in Maharashtra
    Delhi HC gives Kejriwal 4 weeks to respond to ED pleas against acquittal in two cases
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    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
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    August 10, 2026
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    GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
    Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
    August 10, 2026
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    Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
    Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
    August 10, 2026
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    Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
    Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
    August 10, 2026
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    Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
    Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
    August 10, 2026
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    High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
    Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
    August 10, 2026
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    MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
    Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
    August 10, 2026
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    Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
    Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
    August 10, 2026
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    Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
    Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
    August 10, 2026
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    Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
    August 10, 2026
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    Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
    Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
    August 10, 2026
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    Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
    Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
    August 10, 2026
    Show AI Summary
    Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
    Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
    August 10, 2026
    Show AI Summary
    Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
    Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
    August 10, 2026
    Show AI Summary
    Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
    The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
    August 10, 2026
    Show AI Summary
    GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
    GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
    August 10, 2026
    Show AI Summary
    Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
    Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
    August 10, 2026
    Show AI Summary
    Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
    Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
    August 10, 2026
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    Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
    The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
    August 10, 2026
    Show AI Summary
    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
    Show AI Summary
    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.

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      Customs & Trade

      China's premier and American president: Two leaders, two speeches, two differing world visions

      March 6, 2025

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      Beijing, Mar 6 (AP) Their words came just an hour apart this week — two major speeches by two of the world's most powerful leaders, delivered on opposite sides of the planet. Together, they illustrate the very different approaches the world's 21st-century powers are taking to achieve their respective national ambitions.

      For China, it was a call for unity to overcome obstacles through innovation and “opening up” — a time-honoured phrase in Chinese politics — to eventually accomplish national rejuvenation. It came from Chinese Premier Li Qiang in Beijing as he delivered an annual work report to the National People's Congress, nearly 3,000 representatives from a nation of 1.4 billion people.

      Seven thousand miles away and an hour later, at 9 p.m. in Washington, President Donald Trump addressed both chambers of the U.S. Congress, more than 500 lawmakers representing a nation of 340 million, as he vowed to levy tariffs on imports and defeat inflation to "make America great again" — an equally resonant phrase for many in the United States.

      From setting to speaking style, the speeches were an ocean apart. Yet they struck a similar tone — that of a desire for greatness at a moment when the reigning superpower and its biggest challenger are seeing their interests increasingly at odds.

      The paths their leaders choose will shape both countries' futures — and the rest of the world's, too.

      Divided democracy vs. authoritarian unity Li's speech was a set piece delivered to a loyal audience. For 55 minutes, he read a condensed version of a mostly dry and laudatory report on the government's performance last year and its plans for 2025.

      He spoke from the stage of a grand, theatre-like chamber in the Great Hall of the People, a monumental, communist-era edifice on Beijing's renowned Tiananmen Square. China's top leader, Xi Jinping, sat on the dais behind him. The thousands of delegates arrayed before them politely applauded at the appropriate junctures.

      Trump's address, which clocked at about an hour and 40 minutes, took place in the white-domed Capitol on the eastern end of the National Mall, dotted with national monuments. With his vice president and the Republican House speaker behind him, Trump delivered a longer, more theatrical speech to a divided Congress reflecting a divided nation.

      Republicans clapped and cheered robustly at times. Democrats mostly sat in stony silence and occasionally shouted in protest. One, Rep. Al Green of Texas, was ejected from the chamber early on after he stood up and interrupted the president.

      Such unscripted moments — and the high emotions visible behind them — are rare in China. It is a one-party state, and the Communist Party brooks no dissent in public. It strives to present a facade of unity. In his remarks, Li praised unity and urged the country to “rally more closely” around Xi's leadership.

      In Washington, Trump lamented that “there is absolutely nothing I can say to make” Democrats “happy or to make them stand or smile or applaud” and called his Democratic predecessor, Joe Biden, "the worst president in American history.” Tariffs vs. globalisation Trump was upbeat about the economy, in the cheerleading way of American politicians pumping up support for their policies. He promised steps — including cutting energy costs — to defeat inflation, a pain point for many Americans. And he pledged to put more tariffs on imports, a move he claimed would boost U.S. industries but threatens to upset the global trade order and inflict pain on China and its export-dependent economy.

      “Plants are opening up all over the place. Deals are being made like never seen. That's a combination of the election win and tariffs. It's a beautiful word, isn't it?” Trump said.

      China is more worried about deflation than inflation. But Li acknowledged the other challenges the economy faces, chiefly falling real estate prices and depressed consumer spending. He reaffirmed Beijing's “unswerving commitment” to opening up.

      “Regardless of changes in the external environment, we should remain steadfast in our commitment to opening up,” Li said. “We will continue to expand our globally oriented network of high-standard free trade areas." In a statement that no doubt referred in large part to the United States, he cautioned that “an increasingly complex and severe external environment may exert a greater impact on China in areas such as trade, science and technology." Leaving climate accord vs. green transition Trump touted his move to withdraw from the Paris Climate Accord and described his energy policy with the moniker “drill, baby, drill.” He boasted of ending the previous administration's environmental restrictions and (incorrectly) its electric vehicle mandate, “saving our auto workers and companies from economic destruction.” Beijing, on the contrary, is betting on a greener economy. Li said it would be a priority to accelerate “green transition” for "all areas of economic and social development". China already has the world's largest electric vehicle industry. Echoing earlier pledges by Xi, Li said China would “actively and prudently” work towards carbon peak and carbon neutrality.

      Li stressed the importance of innovation and of developing the tech economy in China, including artificial intelligence. It's a push that many US policymakers worry could challenge America's lead in technology, with impacts on both the economic and military rivalry between the two.

      Trump made no mention of technology except to say that it would help build “a golden dome” missile defense shield over the U.S. He declared his focus as commander-in-chief to be “building the most powerful military of the future.” One measure, he said, was to resurrect the American shipbuilding industry. Li's report touched on defence only briefly but said China would “speed up the development of new combat capabilities.” MAGA vs. Chinese rejuvenation' There's something in common, too: Both countries are yearning for greatness again.

      The United States, as a rising and then reigning power, dominated the second half of the 20th century and the start of the 21st. Its economy and military are still the world's most powerful. As China emerges as a rising power, its interests increasingly and inevitably collide with those of Americans and their allies over trade, technology and far-flung Pacific islands.

      Today, through China's control of its domestic media, it plays up America's divisions and violent crimes. The message to its people: It offers a better choice for their future than the messiness of democracy.

      Trump presented a different view. He opened his speech much as he spent great parts of his inaugural address in January: by declaring that “America's momentum is back.” “Our spirit is back. Our pride is back. Our confidence is back. And the American Dream is surging bigger and better than ever before,” Trump said. “Our country is on the verge of a comeback.” Xi has fashioned what has been called the “Chinese Dream," by which the nation would be rejuvenated or restored to a position of greatness it held in centuries past.

      China doesn't necessarily want to be a leader in the U.S. sense, but it wants to be considered an equal. Concretely, China wants a greater say in setting rules in a global system long dominated by the United States.

      Trump appears more intent on freeing the US from global rules. Aside from the Paris agreement, he has pulled the US from other global groups including the World Health Organisation and the UN Human Rights Council — withdrawals that he held up as accomplishments in his speech.

      As Trump pulls the United States back from international involvement, it creates an opportunity for China to fill the void. What's unclear is to what extent the Communist Party thinks that doing so is in its interest and is able and willing to do so.

      At the start of his speech, Li told the delegates that China has made “solid new strides” in advancing its modernisation — an echo of the “Four Modernisations” that became a mantra during the rule of the late Deng Xiaoping in the late 1970s and 1980s.

      In ending his report, Li, as expected, made the call that so many Chinese leaders do at these annual March meetings: “Build a great country," he said, "and advance national rejuvenation." (AP) AMS

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