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    Return of foreign investments shows revival of confidence in economy: RBI Bulletin
    India-US trade deal is almost complete: US State Department after Jaishankar-Rubio talks in Manila
    SC says legal error not sole ground to revoke liberty, flags growing trend of challenging bail
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    DRI busts clandestine Mephedrone manufacturing facility in Ankleshwar, Gujarat and seizes Rs. 21 lakh; Three arrested
    SC rejects pleas of ED and state against grant of bail to Chaitanya Baghel in liquor scam cases
    US to impose steep tariffs on generic medicine imports from Aug 2028
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    Government's Financial Inclusion Mission Continues to Foster Economic Empowerment Through Universal Banking, Social Security and Credit Access
    Tribunal absolves Lalit Modi of FEMA violation in 2009 South Africa IPL event
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    A First for India: EbixCash World Money's Perpetual RBI Licence Brings Trade and Family Remittances Within Reach of Millions - Unlocking Opportunities...
    Rationalisation of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 – Draft Rules for Comments
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    July 22, 2026
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    Foreign investment recovery signals improved economic confidence amid sustained trade momentum and renewed food- and fuel-led inflation pressures.
    Foreign investment recovery, external trade momentum and inflation developments are examined amid geopolitical and supply-chain uncertainty. Strong export and import growth, the operationalisation of the India-UK Comprehensive Economic and Trade Agreement, renewed portfolio inflows and higher foreign direct investment were identified as supporting external-sector confidence. Consumer price inflation increased, led by food and fuel, while core inflation remained unchanged. Food-price pressures continued across staples, edible oils and vegetables, although comfortable foodgrain stocks could mitigate food-inflation effects.
    July 22, 2026
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    Interim trade deal negotiations near completion as bilateral discussions advance tariffs, defence agreements, strategic cooperation, and regional security.
    India-US bilateral engagement focused on advancing an interim trade arrangement reported to be nearing completion, alongside discussions on tariffs, energy, defence and security, critical minerals, and artificial intelligence. The talks included a shared interest in finalising the interim trade deal and completing unspecified defence agreements connected with prior bilateral commitments. Regional security, West Asia, the Indo-Pacific, and Quad cooperation were also discussed amid efforts to restore bilateral relations following trade, immigration, and security-related strains.
    July 22, 2026
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    Bail cancellation requires harm to criminal justice administration, not merely a legally flawed order granting liberty.
    Bail cancellation must turn on whether continued liberty obstructs the administration of criminal justice, not solely on legal error in the order granting bail. A deficient bail order, without more, does not justify revoking liberty. Challenges to bail orders should not displace the objective of timely trials and securing convictions. Although erroneous legal principles may require correction for consistency, they may not alone warrant cancellation of bail. Broader questions concerning the governing cancellation standard remain open.
    July 22, 2026
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    Corporate law amendments face extended parliamentary review of proposals on compliance decriminalisation, ease of doing business, and governance modernisation.
    Parliament extended the Joint Parliamentary Committee's reporting deadline on the proposed Corporate Laws (Amendment) Bill, 2026 until the end of the Monsoon Session. The Committee is examining amendments to the Limited Liability Partnership Act, 2008 and the Companies Act intended to facilitate ease of doing business, decriminalise minor procedural defaults, and modernise the corporate governance framework.
    July 22, 2026
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    Same-day gifting delivery expands access to cakes, flowers and curated gifts through an integrated pan-India online platform.
    Archies Online has introduced a pan-India same-day delivery service for cakes, flowers, gifts and hampers across major cities. Its integrated online platform offers greeting cards, personalised gifts, chocolates, soft toys and curated hampers for personal, professional and festive occasions. Same-day options include Rakhi and Friendship Day collections, supported by product curation, fresh sourcing and a delivery network intended to provide timely and dependable gifting services.
    July 22, 2026
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    Mephedrone trafficking enforcement uncovered a clandestine laboratory, controlled precursors, alleged drug proceeds and an intended receiver.
    Illicit manufacture and trafficking of Mephedrone, a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, 1985, were addressed through an intelligence-led operation involving a clandestine laboratory. Manufacturing equipment, Mephedrone, its controlled precursor, Monomethylamine, and other chemicals used in manufacture were seized under the Act. Cash believed to be drug-trafficking proceeds and a further amount intended as token payment for delivery were recovered. Three persons were arrested in connection with the alleged network.
    July 22, 2026
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    Bail parity in liquor-scam proceedings sustained where principal accused had bail; adverse investigative remarks were removed.
    Bail in the alleged liquor-scam proceedings was sustained on the basis of parity, the applicant's comparatively lesser alleged role, prolonged custody, and the documentary nature of the investigation. The evidentiary value of statements, financial records and digital material was regarded as an issue for trial rather than conclusive assessment at the bail stage. Adverse observations against the state economic-offence investigation were expunged.
    July 22, 2026
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    Generic medicine import tariffs are designed to encourage domestic pharmaceutical manufacturing while preserving policy for patented, branded and innovative drugs.
    Generic medicine imports into the United States are proposed to remain duty-free for two years, followed by escalating tariffs. The structure is intended to encourage pharmaceutical companies to establish manufacturing plants and equipment in the United States, with higher duties applying where companies do not do so within the stated period. The policy is confined to generic drugs, while the approach for patented, branded and innovative medicines is stated to remain unchanged.
    July 22, 2026
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    Oil-driven inflation pressures may prompt higher interest rates, despite equity gains led by artificial-intelligence and semiconductor shares.
    Asian equity markets largely rose following Wall Street gains led by artificial-intelligence and semiconductor shares. Rising crude oil prices are identified as a renewed inflation risk that could encourage central banks to raise interest rates, slowing economic activity and affecting equity valuations. Japan's reliance on imported energy and the effects of a weaker yen on trade values and energy costs are also highlighted.
    July 22, 2026
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    Foreign exchange market volatility pressures the rupee as oil-linked geopolitical risks boost safe-haven dollar demand and prompt market monitoring.
    Foreign exchange market movement saw the rupee depreciate against the US dollar amid higher crude oil prices, geopolitical tensions affecting oil-shipment security, and safe-haven demand for the dollar. RBI measures intended to attract overseas deposits were reported to support market confidence through foreign-currency inflows. Dealers were monitoring possible RBI participation through state-owned banks to moderate currency volatility while permitting gradual exchange-rate adjustment and preventing disorderly market movements.
    July 22, 2026
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    Rules-based multilateral trade engagement guides India's policy review, highlighting digital reforms, trade facilitation and clarification of market measures.
    India's WTO Trade Policy Review reaffirms commitment to a transparent, rules-based, inclusive and development-oriented multilateral trading system. It identifies reforms in trade facilitation, digital customs, logistics modernisation, quality infrastructure, Digital Public Infrastructure, innovation, sustainability, agricultural resilience and regional trade agreements. WTO Members recognised India's economic resilience and customs and digital modernisation, while seeking clarification on trade and investment regimes, Quality Control Orders, trade-remedy measures and WTO reforms.
    July 22, 2026
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    Financial inclusion expands universal banking, social insurance, pensions and collateral-free credit for underserved households and entrepreneurs.
    Financial inclusion is pursued through universal banking under Pradhan Mantri Jan Dhan Yojana, social-security coverage through life, accident and pension schemes, and credit access for underserved borrowers. Pradhan Mantri Mudra Yojana provides collateral-free institutional finance to micro and small business units for income-generating activities. The Stand-Up India Scheme supports Scheduled Caste, Scheduled Tribe and women entrepreneurs through loans for greenfield projects in manufacturing, trading, services and agriculture-allied activities.
    July 21, 2026
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    Foreign exchange contravention liability requires evidence that the person was responsible for the overseas transfer in question.
    Foreign exchange transfer for the 2009 South Africa cricket tournament was examined under the Foreign Exchange Management Act after funds were moved to an overseas entity without prior Reserve Bank approval. The appellate tribunal set aside the penalty imposed on Lalit Modi, finding no material establishing that he was in charge of the relevant affairs or personally responsible for the alleged contravention. Liability for a foreign-exchange contravention must rest on evidence connecting the person proceeded against with responsibility for the impugned transaction.
    July 21, 2026
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    Rural infrastructure financing under RIDF supports irrigation, roads, water supply, cooperative digitisation, producer organisations and climate-resilient livelihoods.
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    July 21, 2026
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    Supreme Court proceedings address juvenile adult trials, insolvency, electoral representation, environmental funds and foreign-exchange complaint requirements.
    Supreme Court proceedings covered election representation, criminal justice, insolvency and regulatory compliance. The Court considered challenges concerning political-party merger approval, separate insolvency proceedings for group entities, and espionage charges. It sought responses on an appeal mechanism for persons excluded from the National Register of Citizens and alleged non-utilisation of environmental relief funds. Criminal matters included medical assessment for interim bail, a fresh trial in a blast case, and the principle that a juvenile accused of murder may face adult trial where statutory conditions for a heinous offence are met.
    July 21, 2026
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    Digital lending safeguards require verified app associations, responsible recovery, data privacy, grievance redressal and reporting channels against illegal loan apps.
    Digital lending safeguards include a public directory enabling customers to verify a digital lending app's association with a regulated entity. The Digital Lending Directions, 2025 impose mandatory requirements on recovery practices, data privacy and customer grievance redressal for regulated entities, lending service providers and digital lending apps. Measures also include blocking illegal loan applications following due process, cybercrime reporting channels, complaint facilities for unlawful money collection, and public awareness programmes on fraud prevention and risk mitigation.
    July 21, 2026
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    Authorised Dealer Category-II remittances expand to specified trade and family-maintenance payments under the revised FEMA framework.
    FEMA framework revisions described as effective from May 2026 expand Authorised Dealer Category-II activities to include specified trade remittances and family-maintenance remittances, subject to the applicable RBI and FEMA framework. EbixCash World Money Limited states that its perpetual AD-II licence carries this expanded scope. The release describes a non-bank channel for MSME and SME cross-border payments, supported by Nostro-account settlement, remittance and travel-card services, and technology-enabled compliance measures including document verification, sanctions screening, fraud detection and transaction monitoring.
    July 21, 2026
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    Foreign investment regulation: Draft rules propose simpler, principle-based compliance and clearer separation of procedural requirements from investment policy.
    Draft Foreign Exchange Management (Foreign Investment) Rules, 2026 propose a simplified, principle-based foreign investment framework. The proposals rationalise provisions, harmonise definitions, and separate procedural foreign-exchange requirements from foreign direct investment policy and sector-specific conditions. They aim to streamline procedures, reduce compliance burdens, enhance operational flexibility, and apply investor-neutral and investee-neutral provisions while preserving regulatory safeguards. The draft Rules remain subject to public consultation before finalisation.
    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.
    Export market diversification is advanced through trade agreements, export-promotion measures and capacity building. Free Trade Agreements seek preferential market access, increased trade and investment, and support for labour-intensive exports, while technical barriers to trade provisions and engagement mechanisms address standards, regulatory requirements and non-tariff barriers. Cross-border e-commerce exports are supported through trade-finance and compliance assistance, E-Commerce Export Hubs, District Export Hubs, simplified courier-export procedures, reverse-logistics facilitation, logistics planning, duty-and-tax remission, and MSME export facilitation.

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      PMLA / Black Money

      No bail rider violated when appointed minister: TN minister Senthil Balaji to SC

      April 9, 2025

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      New Delhi, Apr 9 (PTI) DMK leader V Senthil Balaji has informed the Supreme Court that his appointment as a cabinet minister in Tamil Nadu was not violative of the bail conditions imposed on him by the top court in a money laundering case and he couldn't be chastised for seeking a political office following a popular mandate.

      In an affidavit, Balaji, who was granted bail by the apex court on September 26, 2024, questioned the bonafide of the petitioner, who sought the recall of his bail order.

      The application may be at the instance of the political opposition for settling scores, Balaji alleged.

      "It is critical to note that the appointment of respondent number 2 (Balaji) as a minister was neither contrary to the bail conditions prescribed in para 31 of the judgment dated September 26, 2024, nor was the same contrary to any law," his affidavit said.

      Balaji's response went on, "In fact, it has not even been pleaded by the applicant K Vidhya Kumar in this application that after respondent number 2 having been appointed as a minister, there was any exertion of influence over any witnesses whatsoever." He said the apex court was acutely aware of the magnitude of the trials in scheduled offences, and take many years to conclude, at the very least "three to four years or even more" in its own estimation.

      "Therefore, any exercise to modify the bail conditions would necessarily have to consider that the respondent number 2 enjoys the popular mandate and that he cannot be chastised for seeking a political office in pursuance of the popular mandate," he said.

      The affidavit argued it would not only be contrary to the popular mandate but also be violative of Balaji's "cherished right" under Article 21 of the Constitution of India to participate in public life.

      Balaji said the top court has held the fundamental right under Article 21 of the Constitution was not of "mere animal existence" but included the "right to live with dignity".

      "Life and dignity have to be given its true meaning, which means that respondent number 2 cannot be expected to live as a mere hollow shell despite being granted bail by the courts. It is his right to participate in public life so long as he is not disqualified due to any laws that may operate against him," his affidavit filed through advocate Ram Sankar said.

      If the top court issued any direction, even for a limited duration, which would impact the office of the minister held by him, it would seriously prejudice his case at trial and send a wrong message to the trial court, it added.

      Contending a minister held an office till the absolute "pleasure of the Governor", Balaji argued, "The courts cannot issue a mandamus or a direction to the Governor to revoke his pleasure. This would be against the terms of Article 361 of the Constitution." He said if any of the witnesses were apprehending influence or felt they were unable to depose freely, they could seek the remedy of the Witness Protection Scheme of the state government.

      "The answering respondent submits that he is ready and willing to abide by any condition imposed by this court to ensure sanctity of trial. Any witnesses who in the opinion of the prosecution are vulnerable, the same may be identified and their trial may be conducted in a time-bound manner," he said.

      The minister denied the allegation of the Enforcement Directorate of a delay in trial and witnesses being influenced.

      "Therefore, there was no ground whatsoever to suggest that respondent number 2 was either delaying the ED trial or attempting to influence any witnesses. In fact, the record would show the contrary and demonstrate that he was diligently cross-examining…," Balaji claimed.

      On December 2, last year, the top court expressed concern over reinstatement of Balaji as a cabinet minister, just days after it granted bail in the money laundering case related to the cash-for-job scam, and agreed to examine a plea raising apprehensions on independence of witnesses in the case.

      On September 26, 2024, the top court had granted bail to Balaji after he was in jail over 15 months, noting there was no possibility of the completion of trial in the near future.

      Balaji, 48, was sworn in as a minister by Tamil Nadu Governor R N Ravi on September 29, last year and was assigned the same key portfolios -- electricity, non-conventional energy development, prohibition and excise -- he held previously in the Stalin cabinet.

      Balaji, representing Karur assembly constituency, was arrested on June 14, 2023 in the case when he was the transport minister during the previous AIADMK regime between 2011 and 2015.

      On February 13, last year, the TN Governor had accepted Balaji's resignation from the council of ministers. The top court's reprieve on September 26, 2024 ended Balaji's 471-day incarceration.

      The ED had filed a case of money laundering in July 2021 to probe the allegations after three FIRs were registered by the Tamil Nadu police in 2018 and on the basis of complaints by those aggrieved in the alleged scam.

      Its chargesheet claimed the entire recruitment process in the state transport department during his tenure as a minister was turned into a "corrupt chiefdom". PTI MNL AMK

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