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    Trump used to slam China. Here's why he's now rolling out the red carpet for Xi
    RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
    LPG subsidy: Aadhaar biometric authentication mandatory for subsidised refills from Oct 1
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September 20, 2026
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Tariff policy and trade truce reshape bilateral engagement as rare-earth leverage limits coercive economic measures.
United States-China trade relations are being conducted through continued tariff policy, prior export restrictions, and a trade truce after escalating tariffs did not achieve their intended effect of changing Chinese economic conduct. China's concentrated supply of rare-earth inputs used in electronics provided negotiating leverage and contributed to the trade armistice. Indications that Chinese goods are routed through third countries to lessen tariff exposure qualify the decline in the bilateral goods imbalance. Continued tariffs have not constrained China's manufacturing expansion or its access to export markets.
September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
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Biometric Aadhaar authentication becomes essential for domestic LPG consumers seeking regulated subsidised refill bookings, while market-price supply remains available.
Biometric Aadhaar authentication is required from October 1 for domestic LPG consumers to book subsidised refills at the regulated retail selling price. Authentication can be completed through delivery personnel, distributor showrooms or designated mobile applications. Consumers unwilling or unable to authenticate may obtain LPG at the applicable market price without subsidy after registering their choice through specified digital channels. The framework distinguishes subsidised LPG linked to Aadhaar-authenticated consumers from market-priced LPG and seeks targeted subsidy delivery, reduced leakage, and prevention of diversion, duplicate connections and ineligible access.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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Tariff treatment of Indian exports shifted from reciprocal duties to targeted trade measures, sectoral duties, and specified exemptions.
Upon expiry of the temporary global measure, an India-targeted 10 per cent Section 301 tariff, linked to forced-labour concerns, replaced it; the effective charge for most covered exports remained MFN duty plus 10 per cent. The current regime applies the Section 301 tariff to Indian exports except specified goods, with separate sectoral duties on steel, aluminium and auto components. Smartphones, medicines and energy products are exempt.
September 19, 2026
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PMLA-based FIR request over alleged consultancy payments remains under legal examination amid criticism of non-registration.
Enforcement Directorate sought registration of an FIR concerning alleged fraudulent payments by Cochin Minerals and Rutile Ltd to Exalogic Solutions, represented as IT consultancy fees. The request relied on evidence gathered through investigation and searches under the Prevention of Money Laundering Act. Registration remained under consideration after receipt of the Advocate General's legal opinion, with the Home Department examining the matter.
September 19, 2026
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Free trade agreements expand market access, entrepreneurial partnerships and youth career opportunities alongside public-sector recruitment and development participation.
Free Trade Agreements are presented as mechanisms for expanding cross-border partnerships, market access for entrepreneurs, and career opportunities for young persons. Youth employment is also linked to the expansion of the startup ecosystem beyond major cities and to public-sector recruitment through Rozgar Melas. Newly selected candidates are to join central government ministries, departments and organisations. Public service is framed around citizen-centred administration and decisions supporting a developed and self-reliant India.
September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.
September 19, 2026
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Recurring token reward distributions connect eligible holdings, platform activity, and partner participation through hourly settlement cycles.
BC Engine permits eligible $BC holdings to participate in hourly settlement rounds distributing BCD rewards. Participants can monitor active balances, cumulative rewards, unclaimed BCD, and settlement history through the Engine interface. Settlement amounts vary with ecosystem activity, while the mechanism links platform activity, token utility, user participation, and commercial partners through repeated value distribution rather than one-time promotional incentives.
September 19, 2026
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Asset monetisation of surplus public land and buildings is accelerated through transparent, value-oriented processes and stakeholder coordination.
NLMC's Board recommended monetisation proposals involving surplus land and building assets valued at over Rs. 5,000 crore. Monetisation is facilitated through asset identification, due diligence, valuation and appropriate process structuring, with emphasis on transparency, efficiency and value realisation. Sustained coordination with asset-owning entities is intended to expedite implementation and support timely, commercially appropriate monetisation of underutilised public assets.
September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.
September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.

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How shelter hit by Trump's aid cuts protects LGBTQ migrants in Mexico

March 25, 2025

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Tapachula (Mexico), Mar 25 (AP) Ana Esquivel no longer feels like her heart stops every time she sees a police officer.

“We've been told that they won't harass or mistreat us here, but back home, if a male name is spotted on your ID, you could spend the night detained,” said the 50-year-old transgender woman. She fled Cuba fearing for her safety and arrived in Mexico earlier this year.

Esquivel settled in the southern city of Tapachula, hoping to dodge the Trump's administration crackdown on migration and reach the United States. But unlike many who turned back after their Border Patrol appointments got cancelled, returning home is not an option for LGBTQ+ migrants.

“The LGBT population doesn't necessarily leave their countries for the same reasons as others,” said Mariana de la Cruz, operations director at Casa Frida, a shelter that supports LGBTQ+ migrants and lost 60 per cent of its funds after President Donald Trump ordered the suspension of foreign assistance programmes in January.

“They leave due to discrimination and violence based on their gender identity,” de la Cruz said. “Beyond economic reasons or the American Dream, they leave because they need to survive.” The flux of migrants at the Southern Mexican border with Guatemala dipped after Trump announced plans to restrict refugees and asylum seekers, contending he wants to stop illegal entry and border crime.

The Mexican Commission for Refugee Aid in Tapachula has not updated its public data since December 2024, but the transformation is clear.

Hundreds of migrants no longer flood a public square, waiting for a response to their refugee applications. And though lines still form around the commission's headquarters, locals say the crowds are smaller.

At a nearby Catholic shelter, administrator Herber Bermudez said they have hosted up to 1,700 migrants at a time, but it's closer to 300 with the shutdown of CBP One, the US border app that facilitated legal entry into the country.

“The change was substantial,” Bermúdez said. “By January 20, we had around 1,200 people, but as the app stopped working, people started heading back to their countries.” In contrast, help requests addressed to Casa Frida have not dropped.

"All of the people we support were victims of violence," said Sebastián Rodríguez, who works at the shelter. "They can't go back." In Tapachula since 2022, Casa Frida staff review on average 80 applications per month, assessing the most at-risk. According to Rodríguez, nonbinary and transgender migrants are frequently vulnerable to attacks.

The shelter doesn't have enough resources to help everyone, but they bring on about 70 new people monthly and can support up to 200 LGBTQ+ at any given time.

Several migrants recently told The Associated Press they were kidnapped by cartel members as they set foot in Mexico and had to give up their possessions to be released.

LGBTQ+ people face more violence, Rodríguez said. Transgender women often dress as men to avoid mockery and being spotted by criminals. If they are spared and reach a shelter, staff assign them to male dorms. If they leave and try to rent a room elsewhere, landlords seem unhospitable or demand unthinkable fees.

“That's why programmes like ours are needed,” Rodríguez said.

According to the shelter, about 40 per cent of its population was affected by the end of CBP One app and the mass cancellation of appointments.

“Some people feel discouraged and hopeless,” Rodríguez said. “But many have applied for asylum in Mexico.” Among its services, Casa Frida can provide a roof and meals for up to 12 people for three months. The organisation's other programmes can help several more migrants by providing legal guidance on remaining in Mexico, advice on finding temporary jobs with inclusive environments, psychological counselling and tips for renting apartments under fair conditions.

“Most people just think of us as a shelter, but providing refuge is only the core of what we do,” Rodríguez said. “Our goal is to reintegrate violence victims into society.” The shelter operates in three locations: Mexico City, where it was founded in 2020 and mostly supports locals; Tapachula, which mainly receives migrants from Cuba, Honduras, Venezuela, El Salvador, Perú and Haiti; and Monterrey, where those at grave risk are transferred to be safe at an undisclosed address.

Manuel Jiménez, 21, was welcomed at the Mexico City station in February. He arrived from a state near the capital when harassment by family members became unbearable.

Jiménez initially hoped to reach the US and he travelled north in November 2024. All went well until border patrol officers detained him in Arizona and he was deported. But it was dangerous for him to stay in his hometown.

“Someone told me about this shelter because I wanted to find a place where I could feel at peace,” said Jiménez, who identifies as bisexual. “Back home, there were people who wanted to hurt me, verbally and physically.” Now living at Casa Frida, he started working at a nearby restaurant and hopes to save money that will enable him to find a home of his own.

Back in Tapachula, Esquivel applied for Mexican refugee status. Around 85 per cent of Casa Frida's migrants get a positive response, so she's optimistic. Maybe one day, she hopes, she could go back to school, land a job and relocate.

“I want to stay here and become part of this country,” Esquivel said. “I want to do it the right way and I'm grateful to Casa Frida for helping me get there.” She learned about the shelter from another trans woman who also fled Cuba after feeling threatened by police.

“I was nearly arrested,” said Rachel Pérez, 51. “In Cuba, we are discriminated and persecuted. We leave in search for a better life.” Human rights organizations have denounced continuing intolerance in the Caribbean nation, which does have sexual orientation protections.

According to Esquivel, she was accused of prostitution — which is not illegal under Cuban law — for repeatedly walking alone at night. Police warned her a few times, but she kept going out until she was detained and transferred to a male prison.

“I was raped there,” said Esquivel, who remained imprisoned for a year. “I was only 21 and the inmates abused me. Within time, I learned how to defend myself, but those were very difficult times I won't forget.” Staff at Casa Frida constantly updates their protocols to help migrants like Esquivel. But keeping operations running has proved challenging due to the US aid cuts.

According to De la Cruz, worrisome notifications popped by January 24, and a few weeks later, 60 per cent of their budget was gone.

“We've been looking everywhere to find new sustainability alternatives,” she said.

“We are part of a network focused on LGBT mobility in Latin America and the Caribbean — 13 organisations in 10 countries — and at least 50 per cent of them took a hit.” Funding campaigns and ongoing meetings with European and local leaders might bring a solution, but concerns haven't ceased and the team could significantly diminish its operations.

“Nothing is written in stone and we don't know what could happen next,” De la Cruz said. (AP) PY PY

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