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    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    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
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    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
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    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
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    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
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    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
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    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
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    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
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    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
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    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.

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      Innovative & Transformative Technologies Impress at the 32nd Convergence India & 10th Smart Cities India Expo

      March 22, 2025

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      New Delhi, Delhi, India (NewsVoir) • Over 3 days, 1,000+ domestic and international companies, including 250 startups and Smart Cities, presented India’s tech capabilities and achievements.

      • Cutting-edge products from 6G, AI & ML, Big Data, IoT, Cybersecurity, Robotics, Drone Tech, Smart Governance, Fintech, etc., were displayed.

      India's largest technology showcase, the 32nd Convergence India and 10th Smart Cities India expo, is an initiative by Exhibitions India Group (EIG) that focuses on transformative technologies and solutions shaping India’s future by creating an ecosystem that supports initiatives such as ‘Digital India, ‘‘Make in India,’ and the ‘Smart Cities Mission’.

      Shri Nitin Gadkari, Hon’ble Minister for Road Transport & Highways, Government of India, inaugurated the expo. In a special address, the Hon’ble Minister said, “Today, AI is driving our economy. India’s future is connected with technological growth, so we need to push more research and innovations. The good news is that we boast the highest number of young engineers driving innovations and futuristic technologies." Under the theme “Imagining an AI-Driven Future Today: Innovating for a Better Tomorrow,” the event was a technological extravaganza and the epicentre of hectic activity, with thousands of visitors and delegates exploring technologies and innovations. They also had the opportunity to experience world-class gadgets, including drones, robotics, AR/VR glasses, mobile and digital gaming devices, etc. Meanwhile, the Smart City Pavilion offered an impressive lineup of smart city projects that deliver quality results and enhance millions of citizens’ lives.

      Ms. Chandrika Behl, Managing Director, Exhibitions India Group, said, “This expo has played a pivotal role in fostering technological upgradation and national development, besides promoting an inclusive and sustainable ecosystem across the country. We are the foremost platform for businesses, especially startups, in the Digitech space and have launched several brands that have grown to achieve international acclaim. Taking a cue from the industry’s mood at this year’s show, we will continue providing wholesome opportunities to companies and allow them to thrive and emerge as global brands.” In addition to product launches, investor meets and collaborations, the venue hosted approx. 40 conference sessions ranging from a wide gambit of subjects. These sessions facilitated discussions between industry representatives, innovators, think tanks, and academia on the latest developments and market trends impacting new-age technologies. Moreover, the industry’s future looks bright, with several ministry representatives participating in these discussions! Besides, strong representation from the Ministry of Electronics & IT, including Abhishek Singh, Additional Secretary & CEO India AI Mission; Sanket Bhondve, Joint Secretary; and Panneerselvam Madanagopal, CEO, Startup Hub; Sanjeev Shankar, Joint Secretary, Ministry of IB, and A. Dhanalakshmi, Joint Secretary, Ministry of Science & Technology, also participated in constructive interactions, proving the Government’s resolve to guide the industry. While interacting with delegates during a conference session focused on Artificial Intelligence, Abhishek Singh observed, “We are building AI-based applications in key sectors that can be scaled, rolled out and deployed at scale. The AI policy alignment opens doors for new tools to detect data bias, machine learning, detecting deepfakes, and watermarking AI-generated content.” Prominent entrepreneurs such as Aman Gupta (Co-founder & CMO, boAt), journalist Barkha Dutt and Ankur Warikoo, founder of WebVeda, also engaged in deliberations, offering insights into India’s thriving startup ecosystem. During a Fireside Chat session, Aman Gupta said, “The new India is dreaming big. However, Indian brands should not target to be affordable but aspirational. They should also have a competitive mindset.” Talking about the qualities that a successful entrepreneur should have, he shared, “Find your passion and follow it wholeheartedly. Keep yourself grounded, and don’t get carried away. My mantra is - be efficient and take responsibilities seriously.” Among the highlights were the Investors Pitch competition in the Startup arena that had 10 startups showcase innovative ideas to a distinguished jury. Products and ideas were shared across domains such as healthcare, farming, and safety. Fuselage Innovation, an agri-tech startup from Kerala, emerged as the winner. It received the Prem Behl’s Excellence Award, a cash prize of Rs. 1 Lakh from Exhibition India, and a fully funded participation in the reputed GITEX Dubai and GITEX Morocco, besides guaranteed pitch slots at the Supernova Challenge 2025 in Berlin.

      The highly popular Fintech and Smart Cities awards drew a large number of nominations. The Smart Cities awards were given under categories such as Best Use of AI for Urban Development, Best Smart Energy Solution, Digital Inclusion and Citizen Engagement, Innovation in Urban Mobility, etc. Some Fintech awards categories included Best Global Use of AI in FinTech, Best Digital Lending Solution, FinTech for Financial Inclusion, Best Fintech Leader, etc. Meanwhile, the first Mobile India awards were introduced as an extension of the Mobile India Expo to celebrate the outstanding contributions of companies and individuals towards revolutionising the sector.

      Notably, Russia-based Alfa Bank bagged awards in two categories: Global Leader in Fintech and Best Global Use of AI in FinTech. Sharing his thoughts upon receiving the award, Alexey Kashirin, Head of the Advanced Analytics Department, said, “I am grateful to the FinTech India Innovation Awards for appreciating our bank’s contribution to innovation development. India is not just a global technology leader, but also one of Russia’s key partners.” About Convergence India Since 1992, Convergence India has heralded the telecom and digital revolution in India. It is India's largest technology showcase event, providing a platform to showcase ‘Brand India’ by supporting the ‘Make in India’ and ‘Digital India’ campaigns. Convergence India is at the forefront of promoting technological advancements in Telecom, Satcom, Broadcast, Wired & Wireless technologies, 5G & 6G networks and IT solutions.

      About Smart Cities India The Smart Cities India expo displays India’s emerging modernisation and development landscape that aims to deliver better citizen-centric services across the country. The expo showcases the integration of transformative technologies with the key pillars of urban development, i.e., green buildings, rooftop solar, renewable & clean energy, clean environment, clean water, water conservation, urban mobility, and the use of smart ICT solutions for optimising resources that make cities smart and sustainable.

      (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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