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    CARD91 offers its comprehensive PPI Suite to Indian Overseas Bank with RuPay NCMC Capability
    Government Expands FTAs, Export Promotion Measures to Diversify Export Markets
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    Rupee fell 14 paise to close 96.44 against US dollar
    SC to direct CBSE to implement Orissa HC verdict on APAAR consent forms across country
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    July 21, 2026
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    Prepaid payment instrument programme adds mobility and gift card capabilities with digital servicing subject to applicable programme conditions.
    Prepaid payment instrument programme launched for Indian Overseas Bank through CARD91's technology stack, incorporating RuPay National Common Mobility Card and Gift Card capabilities. The programme was implemented following requisite approvals, testing and compliance validation. The RuPay NCMC facility supports prepaid, tap-based payments for metro, bus and parking transactions, subject to the bank's programme conditions and user eligibility. Digital card servicing may include balance enquiry, transaction history, reload or top-up functions, and customer support, subject to applicable programme terms.
    July 21, 2026
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    Free trade agreements and e-commerce export reforms expand preferential market access, address non-tariff barriers, and support small exporters.
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    Production Linked Incentive Schemes strengthen domestic manufacturing through investment support, export growth, employment generation, monitoring and eligibility reforms.
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    July 21, 2026
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    Separate corporate insolvency processes remain contested over foreign asset treatment, specialised resolution needs, and creditors' commercial decision-making.
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    July 21, 2026
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    Drone technology collaboration promotes joint manufacturing, technology transfer, rural entrepreneurship and global market access through an integrated industrial ecosystem.
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    July 21, 2026
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    WTO trade policy review will assess India's trade measures, transparency framework, reforms, and responses to member questions.
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    Fisheries subsidy disciplines promote sustainable marine resource use while excluding aquaculture and inland fisheries from their scope.
    The WTO Agreement on Fisheries Subsidies disciplines subsidies concerning marine wild-capture fishing and fishing-related activities at sea. It prohibits subsidies linked to illegal, unreported and unregulated fishing and fishing of overfished stocks, promoting conservation and sustainable use of marine resources. Aquaculture and inland fisheries remain outside its scope. India's fisheries management framework is identified as supporting implementation while preserving policy space and safeguarding the interests of traditional and small-scale fishers.
    July 21, 2026
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    Revised Index of Core Industries adopts a new base year, adds iron ore, and revises sector measurement methodology.
    The revised Index of Core Industries series adopts 2022-23 as its base year, replaces the former series and expands coverage to nine industries by including iron ore. Steel is measured using gross production data, while only raw coal is retained to avoid double counting. Weights are derived from the corresponding Index of Industrial Production series and normalised to 100. A geometric-mean linking methodology connects the former and revised series. June 2026 provisional estimates show overall year-on-year ICI growth, led principally by iron ore and electricity.
    July 21, 2026
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    Risk-based export controls exposed alleged pharmaceutical diversion, prompting NDPS enforcement against transnational illicit opioid trafficking networks.
    Risk-based export controls and intelligence-led enforcement under the NDPS Act, 1985 addressed an alleged attempt to divert an export consignment of high-strength Tramadol Hydrochloride tablets into illicit international channels. Enquiries with the International Narcotics Control Board and competent authorities indicated that the declared destination had been misrepresented. The action involved seizure of the consignment and arrests of persons alleged to be connected with the export arrangement and conspiracy. The operation emphasises risk-based profiling, export-control scrutiny, intelligence sharing, and international coordination against pharmaceutical diversion and transnational drug trafficking.
    July 21, 2026
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    Trade tariffs on Canadian goods target alleged discrimination against American automobiles, alcohol and dairy products under trade law.
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    July 20, 2026
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    Geographical indication recognition protects traditional product identity while supporting rural entrepreneurship, quality maintenance, digital access and artisan market opportunities.
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    July 20, 2026
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    Banking sector earnings concerns and geopolitical tensions pressured benchmark equities, while broader markets and selected defensive sectors gained.
    Indian benchmark equity indices declined following heavy selling in major private-sector banking shares amid concerns over weaker net interest margins and quarterly earnings. Banking and financial sector indices were the principal laggards. Renewed United States-Iran tensions, crude-oil concerns, global market weakness and reported foreign institutional investor equity sales added to investor caution. Broader domestic market indices nevertheless closed higher, with selected defensive and infrastructure-linked sectors recording gains.
    July 20, 2026
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    Internal Ombudsman independence strengthens fair customer grievance resolution, prevents escalation, and drives institutional learning from recurring complaint patterns.
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    July 20, 2026
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    UPI security framework mandates advanced controls, alongside risk-based limits and authentication safeguards to strengthen payment ecosystem resilience.
    Unified Payments Interface is an NPCI-operated payment system authorised under the Payment and Settlement Systems Act, 2007. Cross-border UPI arrangements facilitate person-to-person remittances and person-to-merchant payments through partner institutions in multiple countries. Security measures include risk-based transaction limits, safeguards against unauthorised mobile-number changes and misuse of SMS-based authentication, and enhanced application-security requirements. The Comprehensive UPI Information Security Framework 2025 and Mobile Application Security Framework mandate advanced controls to strengthen UPI ecosystem safety and resilience.
    July 20, 2026
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    Fintech consumer protection strengthens payment security, data safeguards, innovation testing, fraud monitoring, cybercrime reporting, and public awareness mechanisms.
    Fintech regulation and consumer protection are being strengthened through self-regulatory standards, digital payment security controls, personal-data safeguards, regulatory sandbox testing, and cyber-fraud reporting mechanisms. The FinTech self-regulatory organisation framework promotes ethical conduct, market integrity, dispute resolution, transparency, and accountability. Banks must maintain minimum security controls for payment channels, supported by AI and machine-learning fraud monitoring for UPI transactions. Citizens may report cyber incidents and illegal loan apps through designated reporting channels, alongside awareness initiatives on fraud prevention and risk mitigation.
    July 20, 2026
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    Homebuyer order enforcement requires developer to deposit recoverable dues with interest, with imprisonment warned for continued non-compliance.
    Final homebuyer compensation and possession-related directions were enforced by requiring the developer and its officials to deposit the entire recoverable amount with annual interest in the court registry within one week. Existing asset freezes were to continue, and continued non-compliance could lead to imprisonment. The purchasers had obtained final regulatory compensation directions, but execution proceedings, notices and warrants had not resulted in payment or possession. Third-party rights and transfer of possession were restrained pending compliance.
    July 20, 2026
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    Foreign-exchange market pressure weakened the rupee as crude prices, geopolitical risk and dollar strength increased, with intervention offering support.
    Foreign-exchange market movement saw the rupee depreciate against the US dollar amid global risk aversion, higher crude oil prices, geopolitical tensions, and rising US Treasury yields. Reserve Bank of India intervention was identified as a potential support mechanism capable of limiting downside pressure. Higher dollar-index levels, domestic equity-market movements, foreign institutional equity outflows, and an increase in India's foreign-exchange reserves were also noted as relevant market conditions.
    July 20, 2026
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    Parental consent in APAAR enrolment requires a genuine opt-out option and compliance with personal data protection safeguards.
    APAAR consent procedures were questioned because a scheme described as voluntary may effectively require Aadhaar enrolment and condition educational access on an academic identifier. The Orissa High Court direction required the model consent form to give parents an express option to refuse consent or opt out before enrolment. Concerns included informed parental consent, withdrawal of consent, long-term storage of children's educational records and privacy protections. Educational circulars remain subject to the Digital Personal Data Protection Act, and any data-processing framework must comply with applicable consent requirements.

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      Yunus says important for Bangladesh to see China as good friend; expects ties to enter new phase

      March 29, 2025

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      Beijing, Mar 29 (PTI) Bangladesh interim government’s Chief Adviser Muhammad Yunus said it is “important” for his country to see China as a good friend and he expects ties between Dhaka and Beijing to enter a new phase as he wrapped up his four-day China visit on Saturday.

      “Our relationship has been very strong over the years. Our business is very strong and we benefit from our collaboration with China”, Yunus said.

      “Hong Lei, Assistant Minister, Ministry of Foreign Affairs and also the Chief Protocol Officer of the Chinese President Xi Jinping, sees off Yunus on Saturday at the Beijing Capital International Airport at the conclusion of his historic four-day official visit to China,” a post on X by Yunus' official handle said.

      Yunus was conferred an honorary doctorate degree by Peking University (PKU) here on Friday.

      The Chief Adviser met Chinese President Xi Jinping on Friday and sought stepped up investments from China to revive Bangladesh’s flagging economy, hit by political and economic crisis.

      “It's very important that we see China as our good friend,” Yunus said, projecting Beijing as a balancing factor against New Delhi.

      He expects bilateral relations to enter a new stage, Yunus told Chinese state-run Xinhua news agency in an interview.

      After his China visit, Yunus is scheduled to visit Thailand to take part in the BIMSTEC summit. He has sought a meeting with Prime Minister Narendra Modi but India is yet to confirm it.

      In his talks with Xi, Yunus urged China to play a greater role in establishing peace, prosperity and stability for both nations.

      A joint statement issued after the Xi-Yunus talks said Bangladesh welcomed Chinese companies to participate in the Teesta River Comprehensive Management and Restoration Project (TRCMRP).

      Considering New Delhi’s sensitivities, the previous Sheikh Hasina government wanted India to do the Teesta river basin project.

      Yunus highlighted last year's July-August students' mass protests in Bangladesh leading to the ouster of Hasina government in his talks with Xi, adding that the students’ movement paved a way to build a New Bangladesh.

      Weeks before her ouster last year, Hasina too had made a high-profile visit to Beijing during which she held talks with Xi.

      Since the Yunus government took over, China has been hosting a number of Bangladesh delegations including Bangladesh's Adviser for Foreign Affairs Touhid Hossain and hardline Islamic parties such as the Jamaat-e-Islami and opposition Bangladesh Nationalist Party (BNP).

      Despite the flurry of visits, analysts say Beijing is careful in making any major commitments as it watched the unfolding chaotic situation in Dhaka and the pressure mounting on 84-year-old Yunus to hold elections.

      Highlighting Beijing’s perspective, an opinion piece in China’s state-run Global Times said, “for Bangladesh's interim government, it is urgent to boost the economy and address employment issues, especially youth employment”.

      “In Bangladesh, unemployment among young people is a big challenge. The country has abundant human resources; however, nearly 40 percent of young people are unemployed”, it said.

      “Yunus himself knows that reinvigorating the economy requires harnessing global resources. With America's strategic contraction, Bangladesh is uncertain about the extent of assistance the West can provide.

      “China remains a viable option for enhancing cooperation in various fields, such as industry transfer and agriculture technology improvement”, it said.

      After Yunus talks with Xi, the two countries signed nine agreements enhancing economic and technical cooperation between the two governments and cooperation in the areas of development, translation and publication of classical literary work, exchange and cooperation on cultural heritage.

      Bangladesh and China have also agreed to strengthen cooperation in areas such as hydrological forecasting, flood prevention and disaster reduction, river dredging, integrated management of water resources, water resources development and related technology.

      In the interview Yunus gave to Xinhua, Yunus said that at present, there are nearly 1,000 Chinese enterprises operating in Bangladesh. “Bangladesh's imports from China are increasing. The bulk of our industrial-use products come from China”.

      Looking ahead, Yunus emphasized the economic complementarities between the two countries and their huge cooperation potential.

      He also pitched for increasing cooperation in the health sector between Bangladesh and China to reduce high flows of Bangladesh patients to India for medical treatment.

      Recently, the first group of Bangladeshi patients, doctors, and travel agencies went to Kunming in China's Yunnan province for medical check-ups and treatment, exploring the potential for the medical tourism market.

      Meanwhile, Chief Adviser's Deputy Press Secretary Abul Kalam Azad Majumder said China planned to operate flights from Chittagong to Kunming to enable Bangladesh people to travel to China to seek medicare instead of India.

      China has dedicated four Kunming hospitals for the treatment of Bangladeshi patients, but the high cost of air ticket remains as a major impediment to travel to the Chinese city, state-run news agency Bangladesh Sangbad Sangstha (BSS) reported.

      Chinese authorities said they would open up more healthcare facilities in the country for the Bangladeshi people, the BSS said, adding, “In April, Bangladesh would also send a big team of journalists to Kunming to see for themselves the treatment facilities there”. PTI KJV NPK NPK

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