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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
    NABARD sanctions Rs 15,056 cr for 6,175 rural infrastructure projects in Haryana
    SUPREME COURT HIGHLIGHTS
    Government and RBI Strengthen Digital Lending Ecosystem Through New Regulatory Framework, Digital Lending App Directory and Enhanced Customer Safeguar...
    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
    CARD91 offers its comprehensive PPI Suite to Indian Overseas Bank with RuPay NCMC Capability
    Government Expands FTAs, Export Promotion Measures to Diversify Export Markets
    PLI Schemes Attract Over ₹2.40 Lakh Crore Investment, Generate More Than 14.15 Lakh Jobs
    SC issues notice on Venugopal Dhoot's plea against order upholding separate insolvency for VIL, VOVL
    Russian Technology Leaders Visit AVPL Drone City to Foster Industrial Collaboration
    India’s 8th Trade Policy Review at WTO Scheduled on 21 and 23 July 2026
    India Becomes a Party to the WTO Agreement on Fisheries Subsidies by Depositing its Instrument of Acceptance
    FIRST PRESS RELEASE OF INDEX OF CORE INDUSTRIES OF NEW SERIES WITH BASE YEAR 2022-23
    Central Bureau of Narcotics (CBN) India thwarts illegal trafficking of 12 crore Tramadol Hydrochloride, a.k.a. “fighter drug” tablets under “Ope...
    Trump imposes 50 per cent tariffs on Canadian goods, citing disputes over autos, alcohol and cheese
    Rupee falls 6 paise to close 96.36 against US dollar
    India gets USD 20.72 bn forex inflows under swap facility since Jun: RBI
    J'khand aiming to increase GI-tagged products to 25, Atthe Mutton among those in pipeline: official
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    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.
    Rural Infrastructure Development Fund financing supports rural infrastructure in Haryana, including irrigation, roads and drinking-water assets. Rural cooperative strengthening includes digitisation and financial viability of Primary Agricultural Credit Societies, alongside promotion and financial support for Farmer Producer Organisations. Climate-resilient measures include watershed development, groundwater management, micro-irrigation, direct seeding of rice and vegetable clusters, supplemented by livelihood training for rural women and agricultural lending and project-appraisal support.
    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.
    July 21, 2026
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    Production Linked Incentive Schemes strengthen domestic manufacturing through investment support, export growth, employment generation, monitoring and eligibility reforms.
    Production Linked Incentive Schemes for 14 sectors promote domestic manufacturing, investment, exports, employment and global competitiveness. Overall coordination and monitoring rests with the Department for Promotion of Industry and Internal Trade, while sector-specific implementation is undertaken by the relevant ministries and departments. Implementation is periodically reviewed, with scheme modifications, rationalised guidelines, relaxation of specified eligibility conditions, project monitoring, stakeholder consultation and inter-ministerial issue resolution used to improve uptake and strengthen domestic manufacturing ecosystems.
    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.
    Separate corporate insolvency resolution processes for VIL and VOVL are disputed following reversal of an earlier consolidation direction. Independent processes were preferred because the entities operate in distinct sectors and may require specialised resolution, while creditors' choice was treated as commercial wisdom not ordinarily open to tribunal interference. The dispute also concerns whether foreign oil and gas assets should be treated as VIL assets, against the background of VIL's conversion from co-obligor to corporate guarantor to ring-fence those assets from domestic business liabilities.
    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.
    India-Russia industrial collaboration in drone technology is proposed through engagement on technology transfer, joint manufacturing, research collaboration, investment, exports and global market access. Drone City is presented as an integrated ecosystem covering manufacturing, research and development, testing, certification support, skill development, incubation, warehousing, startup acceleration and international technology partnerships. Its expansion and panchayat-level entrepreneurship programme are expected to create rural drone enterprises and employment in manufacturing, component production, quality control, maintenance, logistics and technical support.
    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.
    India's eighth Trade Policy Review under the World Trade Organization framework examines its trade policies and developments during the 2021-2025 review period. The process uses a Government Report and a Secretariat Report and provides a comprehensive peer examination of border and behind-the-border trade measures to promote transparency, predictability and understanding. The review addresses trade agreements, Goods and Services Tax rationalisation, digital trade-facilitation measures, and Member questions on digitisation, MSMEs, women's economic participation, Viksit Bharat and the Atmanirbhar Bharat Abhiyan.
    July 21, 2026
    Show AI Summary
    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
    Show AI Summary
    Trade tariffs on Canadian goods target alleged discrimination against American automobiles, alcohol and dairy products under trade law.
    United States trade action imposes tariffs on most Canadian goods, citing alleged discriminatory treatment of American automobiles, alcoholic beverages and dairy products. The measures apply to goods previously protected under the United States-Mexico-Canada Agreement, subject to exclusions for energy products, potash, fish and critical minerals. The stated grounds include Canadian retaliatory tariffs, restrictions on American alcohol sales, treatment of dairy imports, and tariffs on certain United States motor vehicles outside preferential trade treatment.
    July 20, 2026
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    Foreign exchange market movement saw rupee depreciation amid geopolitical risk, higher crude prices, stronger dollar conditions and equity outflows.
    Foreign exchange market movement saw the rupee depreciate by 6 paise to close at 96.36 against the US dollar, amid global risk aversion, higher crude oil prices, escalating US-Iran tensions and rising US Treasury yields. Market commentary indicated that anticipated Reserve Bank of India intervention could limit further downside. The report also noted a stronger dollar index, domestic equity-market declines, foreign institutional equity outflows, and an increase in India's foreign exchange reserves.
    July 20, 2026
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    Concessional foreign-exchange swaps incentivise fresh FCNR(B) deposits and foreign borrowings to strengthen balance-of-payments liquidity.
    The concessional foreign-exchange swap facility incentivises fresh FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings to strengthen the balance of payments and support foreign-exchange liquidity. Its availability is time-limited, with FCNR(B) deposits eligible until September 2026 and OFCB and ECB inflows eligible until December 2026. Reported inflows were primarily mobilised through FCNR(B) deposits.
    July 20, 2026
    Show AI Summary
    Geographical indication recognition protects traditional product identity while supporting rural entrepreneurship, quality maintenance, digital access and artisan market opportunities.
    Geographical Indication recognition is being pursued for additional traditional products from Jharkhand to protect product identity and expand protected regional products. GI recognition supports cultural heritage, rural entrepreneurship and market access for artisans and primary producers. Post-registration measures emphasise product-quality maintenance and digital e-commerce access, alongside skill development, marketing initiatives, rural haats and support for non-farm sectors.

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      Pahalgam attack: More condemnations pour in from world leaders

      April 23, 2025

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      Washington/London, Apr 23 (PTI) European Commission president Ursula von der Leyen, UN Secretary General Antonio Guterres, British Prime Minister Keir Starmer and Nepal Prime Minister K P Sharma Oli were among the world leaders who on Wednesday condemned the Pahalgam terror attack that killed 26 people.

      Foreign Offices of Pakistan, China, Germany, United Arab Emirates and Sri Lanka too condoled the deaths in Jammu and Kashmir's Pahalgam.

      Stephane Dujarric, spokesman for the UN Secretary-General Antonio Guterres, said: “The Secretary-General strongly condemns the armed attack in Jammu and Kashmir on 22 April, in which at least 28 people were killed.” Terrorists opened fire in Pahalgam on Tuesday afternoon, killing 26 people, mostly tourists, in what is the deadliest attack in the Valley since the Pulwama strike in 2019.

      Earlier, on Tuesday, US President Donald Trump, Russian President Vladimir Putin, Israeli Prime Minister Benjamin Netanyahu and Italian Prime Minister Giorgia Meloni had expressed solidarity with India.

      On Wednesday, EU Commission president von der Leyen termed the terror attack in Pahalgam as “vile” and said that Europe stands with India.

      “The vile terror attack in Pahalgam today stole so many innocent lives. My deepest condolences to @narendramodi and every Indian heart grieving today. Yet I know that India’s spirit is unbreakable. You will stand strong in this ordeal. And Europe will stand with you,” she said in a post on X.

      British Prime Minister Keir Starmer and Foreign Secretary David Lammy took to social media to express solidarity with India.

      “The horrific terrorist attack in Kashmir today is utterly devastating. My thoughts are with those affected, their loved ones, and the people of India,” Starmer said in a post on X.

      A little earlier, Lammy posted on the platform: “I am appalled by the horrific and cowardly terrorist attack on Kashmir earlier today. My thoughts are with all of those affected, especially those who have lost loved ones.” In Kathmandu, Nepal Prime Minister K P Sharma Oli on Wednesday condemned the terrorist attack and extended deepest condolences to the victims. “Nepal stands firmly with India and strongly condemns any and all acts of terrorism,” Oli wrote on X.

      Close coordination has been established with different agencies to verify reports of a Nepali national among the victims, Oli said and expressed commitment to provide all necessary assistance from the government.

      Multiple US lawmakers, including US Senate Foreign Relations Committee Chairman Senator Jim Risch, and members of the Indian-American community strongly condemned the horrific terror attack in Pahalgam.

      “I send my condolences to the people of India in the aftermath of the horrific attack in Kashmir and hope those responsible will be brought to justice soon. Terrorism is never tolerated,” Senator Risch said in a post on X.

      Earlier, in a call with Modi, President Trump strongly condemned the terror attack and expressed full support to India to bring to justice the perpetrators of the “heinous attack.” Vivek Ramaswamy, who was a 2024 presidential primary candidate, also paid tributes to the deceased and offered prayers for those who were injured to recover quickly.

      Meanwhile, the Kashmiri Overseas Association (KOA) condemned the horrific terror attack in Pahalgam and said the 26 tourists were executed by Islamist terrorists by targetting solely for their Hindu faith.

      Khanderao Kand, Chief of Policy and Strategy at the Foundation for India and Indian Diaspora Studies (FIIDS) and former advisor to President Joe Biden and Co-Chair for the Economic Subcommittee for Asian American and Native Hawaiian/Pacific Islander (AANHPI) Commission Ajay Bhutoria too strongly condemned the horrific terrorist attack, saying both the US and India have been burned by state sponsored terror.

      Hindus Advancing Human Rights Initiative (HAHRI), an arm of HinduPACT, unequivocally condemned the attack that occurred during Vice President J D Vance’s visit to India and PM Modi’s trip to Saudi Arabia.

      A diaspora group in Britain, the Friends of India Society International (FISI) UK too strongly condemned the horrific terror attack in Pahalgam and demanded immediate action to ensure those responsible are brought to justice. PTI GRS/ZH YAS KJV AK SHK SCY SH NPK ASH NPK NPK

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