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    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
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    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
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
    Ratul Puri: Beyond Low-Cost Power to Clean Energy Reliability
    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
    Compounded annual growth rate of Manufacturing GVA at constant prices (2022-23 base) as per revised series during 2022-23 to 2025-26 is 10.88%
    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    August 13, 2026
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    Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
    India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
    August 13, 2026
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    EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
    Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
    August 13, 2026
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    Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
    Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
    August 13, 2026
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    Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
    SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
    August 13, 2026
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    Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
    Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
    August 13, 2026
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    Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
    NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
    August 13, 2026
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    CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
    CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
    August 13, 2026
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    Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
    India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.

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      Why possible motivation of deposed South Korean leader's martial law declaration matters

      April 4, 2025

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      Seoul, Apr 4 (AP) Dancing and consoling hugs. Wild whoops and anguished screams. Tears, both of joy and rage.

      Reaction to the court verdict ousting South Korean President Yoon Suk Yeol from office Friday was a vivid window into the nation's deep political divisions, as tens of thousands of Yoon opponents and supporters aired their feelings in downtown Seoul.

      As South Korea now turns to elect a new president, that divide is only likely to harden. It will be particularly on display as both sides try to answer one question about the night of December 3, when the conservative leader decreed martial law, setting himself on the road to impeachment and the loss of the presidency: What was he thinking? Yoon was confronting North Korea-sympathising politicians intent on destroying South Korea's democracy, his supporters say. No, no, liberals maintain: He was trying to deflect attention from corruption investigations of him and his wife.

      Or maybe he was in the sway of right-wing YouTubers who claim liberals have subverted the election process? This national attempt to pick through the wreckage of Yoon's decision to send heavily armed soldiers to encircle the National Assembly will be front and centre as a violently fractured South Korea begins a fierce campaign to elect a new president within two months.

      Deploying troops to the streets of any democracy is serious. But it is especially sensitive in South Korea, where memories of military rule from the 1960s to 1980s are fresh.

      And the move has further exposed the country's fault lines, along politics, national security, social standing, economics, gender and age.

      Division is intrinsic to South Korea's origin story. The Korean Peninsula was split into northern and southern halves in 1945 by Soviet and US troops, formally broken up in 1948 when both Koreas became independent countries, and then militarily separated at the Demilitarized Zone at the end of the Korean War in 1953.

      The fractures will likely get worse as presidential election campaigning gains force.

      Yoon supporters say he was thwarted by the opposition Yoon's supporters tend to frame the martial law decree as a crucial tool for a president stymied at every turn by the liberal opposition Democratic Party, which controls parliament.

      Kim Min-seon, a Yoon supporter, said it was the only way to deal with liberals blocking Yoon's efforts to fight Pyongyang's and Beijing's alleged campaigns to threaten South Korea's democracy through cyberattacks, disinformation and technology theft. The Democratic Party has denied these accusations.

      “I strongly condemn Lee Jae-myung's Democratic Party, which is an axis of evil,” Kim said during a recent rally. Lee, the opposition leader, is Yoon's archrival and seen as the presidential front-runner.

      Yoon supporters' fears are further fuelled by false claims about election fraud.

      On December 3, Yoon sent troops to National Election Commission offices to investigate alleged vulnerabilities to its computer systems that he insisted could affect the credibility of election results.

      Such claims are unsubstantiated and there is no evidence of electoral fraud, but there's a worry that the spectre could undermine confidence in future elections.

      “It's undeniable that we had election fraud, and the president made a crucial decision to expose such massive wrongdoing,” Kwon Kyung-hee, another Yoon supporter, said during a rally this week.

      Yoon critics say he was influenced by conspiracy theories Many Yoon critics see something strikingly different: a leader increasingly in the sway of conspiracy theories that portray him as a victim of a North Korea-sympathizing opposition.

      Instead, they say, he was merely an inept politician, unable to work with rivals to get things done.

      “The president's imposition of martial law was a terrible political decision made by a foolish former prosecutor who mistook compromise for surrender and dialogue for interrogation,” said Choi Hyun-seok, a Seoul office worker.

      But others see a reason closer to home, accusing Yoon of being desperate to protect himself from corruption investigations.

      Park Chan-dae, floor leader of the Democratic Party, said Yoon's martial law decree was likely an attempt to cover up “disgraceful” allegations about Yoon and his wife that had caused the president's approval ratings to plummet.

      The scandal revolves around allegations that Yoon and first lady Kim Keon Hee unlawfully influenced the conservative People Power Party to select a specific candidate for a parliamentary by-election in 2022 at the request of election broker Myung Tae-kyun. Yoon has denied any wrongdoing by him or his wife.

      Park noted that it was December 2 when Myung, facing the threat of criminal prosecution and increasing scrutiny, revealed he would hand over a phone that contains communications with Yoon and Kim.

      “Prosecutors indicted Myung Tae-kyun a day later, and Yoon Suk Yeol declared martial law on the same day,” Park said during a January party meeting. “Isn't this too coincidental to be dismissed as mere chance?” It's not immediately clear how much of a role the Myung scandal played in influencing Yoon's decree, which investigators say had been brewing for months.

      Prosecutors' indictments, instead, say Yoon was driven to martial law by disputes with the opposition over budget cuts, impeachment attempts against his allies, and baseless election fraud conspiracy theories. Though they did also briefly mention that Yoon discussed the scandal with his defence minister.

      Both Yoon's party — which is in disarray following the court ruling — and the opposition — whose leader also faces several corruption investigations — have big challenges ahead.

      And the stakes couldn't be higher for South Korea: How the political standoff plays out will determine its democratic future, but also its relations with the nuclear-armed North, a newly protectionist United States, and its major trading partner but uneasy neighbour China. (AP) PY PY

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