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    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
    Over 745 gram gold paste seized at IGI; Customs nab carrier, receiver
    Quebec remains cautious on Canada-US trade deal as Ottawa pushes to restore US alcohol
    No cases of foreigners getting Aadhaar, other govt benefits reported during SIR in K'taka: Minister
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
    DPIIT Signs MoUs with PhonePe and Shell India to Strengthen Startup Ecosystem and Drive Innovation
    Union Minister of Commerce and Industry Shri Piyush Goyal Strengthens India-Singapore Economic Partnership through High-Level Bilateral and Business E...
    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
    Razorpay Launches Multi-Currency Account, Helping Exporters Retain International Earnings in Foreign Currencies
    DB HiTek to Make Debut at electronica India 2026, Targeting Growth in Indian Market
    BJP demands Vijayan’s resignation from Keralam LoP post over ED findings in CMRL case
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    DRI busts a wildlife trafficking syndicate involved in illicit trade of ivory artefacts
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    Five held in UP's Bareilly for alleged fake Ayushman cards racket
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August 21, 2026
Show AI Summary
Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
Show AI Summary
Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
Show AI Summary
Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
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.

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Senate approves funding bill hours before shutdown deadline, sending to Trump for signature

March 15, 2025

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Washington, Mar 15 (AP) The Senate passed a six-month spending bill on Friday hours before a government shutdown, overcoming sharp Democratic opposition to the measure and sending it to President Donald Trump to be signed into law.

The essentially party-line vote, 54-46, reflected gnawing Democratic angst over how to confront the Trump administration as its Department of Government Efficiency fires federal workers and dismantles operations. Democrats argued over whether to fight even risking a shutdown and fumed that Republicans drafted a measure that included little of their input, shortchanging health care, housing and other priorities.

But in the end, enough of the Democratic senators decided a government shutdown would be even worse, and backed Senate Democratic leader Chuck Schumer's strategy to allow the bill to come forward.

"A shutdown will allow DOGE to shift into overdrive," Schumer said. "Donald Trump and Elon Musk would be free to destroy vital government services at a much faster rate." Democrats were confronted with two painful options: allowing passage of a bill they believe gives President Trump vast discretion on spending decisions or voting no and letting a funding lapse ensue. All told, 10 Democrats voted to break the party's filibuster. On final passage, two Democrats supported the bill, and one Republican, Sen. Rand Paul of Kentucky, opposed it.

Schumer gave members of his caucus days to vent their frustration about the options before them, but abruptly switched course and made clear on the eve of voting that he would not allow a government shutdown. His move outraged many in the party who want to fight the Trump agenda, but gave senators room to side with Republicans and allow the continuing resolution, often described as a CR, to advance.

Democrats from all corners looked to pressure senators to kill the bill. House members wrote letters, posted on social media and held press conferences in the hours before the vote.

"The American people sent Democrats to Congress to fight against Republican dysfunction and chaos," said a letter from 66 House Democrats to Schumer.

House Democratic leader Hakeem Jeffries and his team dashed back to the Capitol urging senators to block the bill and negotiate a true compromise with Republicans. Speaker Emerita Nancy Pelosi called the bill "unacceptable".

Some Democrats also argued that Republicans would take the blame for a shutdown, given they controlled all the levers of power in Congress and the White House.

"If you refuse to put forward an offer that includes any Democratic input and you do not get Democratic votes, that is on Republicans," said Sen. Patty Murray, the top Democrat on the Senate Appropriations Committee.

In contrast, Schumer picked up one unexpected nod of support -- from Trump himself, who just a day earlier was gearing up to blame Democrats for any shutdown.

"Congratulations to Chuck Schumer for doing the right thing -- Took guts' and courage!" the president posted on his social media account.

Congress has been unable to pass the annual appropriations bills designed to fund the government, so they have resorted to passing short-term extensions instead. The legislation before the Senate is the third such continuing resolution for the current fiscal year, now nearly half over.

The legislation would fund the federal government through the end of September. It would trim non-defence spending by about USD 13 billion from the previous year and increase defence spending by about USD 6 billion, which are marginal changes when talking about a topline spending level of nearly USD 1.7 trillion.

The Republican-led House passed the spending bill on Tuesday and then adjourned. The move left senators with a decision to either take it or leave it. And while Democrats pushed for a vote on a fourth short-term extension, GOP leadership made clear that option was a non-starter.

Senate Majority Leader John Thune, R-SD, and others made the case that any blame for a shutdown would fall squarely on Democrats. And House Speaker Mike Johnson, R-La., said Republicans stood together to get the job done.

"Shamefully, 99 per cent of Democrats in Congress voted to shut down the government -- simply because they seem to hate President Trump more than they love America," Johnson said.

Meanwhile, some House Democrats lashed out at their colleagues across the Capitol after the vote.

"The constituents I represent need Democrats to stand up to this rogue administration," said Rep. Steven Horsford, D-Nev. "What they got from Senate Democrats today was capitulation instead." But Schumer said Trump would seize more power during a shutdown, because it would give the administration the ability to deem whole agencies, programmes and personnel non-essential, furloughing staff with no promise they would ever be rehired.

Democrats were critical of the funding levels in the bill. But they are more worried about the discretion the bill gives the Trump administration on spending decisions. Many Democrats are referring to the measure as a "blank cheque" for Trump.

Spending bills typically come with specific funding directives for key programmes, but hundreds of those directives fall away under the continuing resolution passed by the House. So the administration will have more leeway to decide where the money goes.

For example, a Democratic memo said the bill would allow the administration to steer money away from combating fentanyl and instead use it on mass deportation initiatives.

Several amendments to the bill failed, but one to eliminate funding for DOGE drew support from a Republican, Sen. Lisa Murkowski of Alaska.

The spending bill before the Senate is separate from the GOP effort to extend tax cuts for individuals passed in Trump's first term and to partially pay for them with spending cuts elsewhere in government.

That second package will be developed in the months ahead, but it was clearly part of the political calculus.

"You are looking at a one-two punch, a very bad CR, then a reconciliation bill coming down, which will be the final kick in the teeth for the American people," said Sen. Bernie Sanders, I-Vt.

Sen. Tom Cotton, R-Ark., said the Democratic arguments for voting against the bill were hypocritical because they were essentially calling for shutting down the government to protect the government.

"Democrats are fighting to withhold the paycheques of air traffic controllers, our troops, federal custodial staff," Cotton said. "They cannot be serious." Senators also unanimously approved a separate bill to fix an unexpected provision in the package that would require the District of Columbia to revert to 2024 budget levels, a cut of some USD 1.1 billion, even though the district raises most of its own money. That bill, which now goes to House, would allow spending at 2025 levels. (AP) RC

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