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    No cases of foreigners getting Aadhaar, other govt benefits reported during SIR in K'taka: Minister
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
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    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
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August 20, 2026
Show AI Summary
Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.

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Customs & Trade

With China and US at intense economic odds, nations are being forced to choose sides

April 28, 2025

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Washington, Apr 28 (AP) One went to the United States. The other went to China. It was a sign of the times.

While the Swiss president was in Washington last week to lobby US officials over President Donald Trump's threatened 31% tariff on Swiss goods, the Swiss foreign minister was in Beijing, expressing his nation's willingness to strengthen cooperation with China and upgrade a free trade agreement.

As Trump's trade war locks the world's two largest economies on a collision course, America's unnerved allies and partners are cosying up with China to hedge their bets. It comes as Trump's trade push upends a decade of American foreign policy — including his own from his first term — toward rallying the rest of the world to join the United States against China. And it threatens to hand Beijing more leverage in any eventual dialogue with the US administration.

With Trump saying that countries are “kissing my ass” to negotiate trade deals on his terms or risk stiff import taxes, Beijing is reaching out to countries far and near. It portrays itself as a stabilising force and a predictable trading partner, both to cushion the impact from Trump's tariffs and to forge stronger trade ties outside of the US market.

“America and China are now locked in a fierce contest for global supremacy,” Singaporean Prime Minister Lawrence Wong said in an April 16 speech. “Both powers claim they do not wish to force countries to choose sides. But in reality, each seeks to draw others closer into their respective orbits.” The tariffs on Chinese goods are off the charts Trump has paused some of his steepest tariffs on most American partners for 90 days after global financial markets melted down. But he has raised tariffs on Chinese goods to 145%, drawing rebukes from Beijing, which has vowed to "fight to the end.” US companies are warning of higher prices, meaning Trump could face both higher inflation and empty store shelves.

The magnitude of the taxes are already dramatically affecting American imports, with the shipping containers set to arrive at the Port of Los Angeles down nearly 36% over the past two weeks, according to Port Optimizer, which tracks vessels. It's lending urgency for both the US and China to bolster support from alternate partners.

While Trump administration officials suggest the president could ease the duty rates on Chinese goods at his discretion, there has been no indication he's yet looking for a reduction. That, after all, could suggest his protectionist policies were hurting the American economy.

“They want to make a deal obviously," Trump told reporters Sunday, saying the US had gone “cold turkey” on trade from China. “Right now, they're not doing business with us.” The White House has framed any negotiations as being between the US president and Chinese President Xi Jinping, but neither leader seems willing to make the initial outreach without some kind of concession. The two countries can't even agree publicly whether they are holding talks.

Earlier this month, Xi — on his first foreign trip this year — visited Vietnam, Malaysia and Cambodia, resulting in mutual pledges for closer economic and trade ties. In Vietnam, which faces the 46% tariff from the US, Beijing and Hanoi agreed to strengthen industrial and supply chain cooperation. In Malaysia and Cambodia, Xi secured similar agreements. Cambodia is faced with a 49% tariff from the US, and Malaysia 24%.

Then there's Japan: Despite its long-standing enmity towards the nation that once colonised parts of it, the Chinese government has reached out to Tokyo and urged a coordinated response, according to Kyodo News.

China is digging in China is ready to use the stick, too. A South Korean newspaper has reported that China is demanding South Korean businesses not to ship goods containing China's rare earth minerals to US defense companies or face likely sanctions.

Earlier this month, Beijing warned that no country should reach a deal with the US at China's expense and vowed to take countermeasures in a “resolute and reciprocal manner” should such a situation arise.

Hal Brands, a senior fellow at the American Enterprise Institute in Washington, said China will “try to exploit Trump's abrasive behavior to make inroads with US allies and countries in the Global South.” Some scholars say Beijing is already gaining. “People lost the confidence, or even trust, for the United States, particularly for Donald Trump in the US Not for China,” said Li Cheng, professor of political science at the University of Hong Kong. “So in that regard, China gains in the geopolitical landscape.” In the latest Ipsos poll, for the first time, more people globally now say China has a positive impact on the world than the United States. The pollster cited the broad backlash to Trump's tariffs.

Countries have to choose, but it's difficult China is the world's largest exporter and the US the largest importer. Total trade for China reached a record 43.85 trillion yuan (US$6 trillion) in 2024, and the country is the biggest trading partner for most of the world, including the European Union, Japan, South Korea and the grouping of the 10 Southeast Asian countries known as ASEAN.

The US is the biggest destination for China's exports, though China is only the third-largest trading partner with the US, behind Mexico and Canada. Total trade for the US last year was US$5.4 billion, with a record deficit of $1.2 trillion. For ASEAN countries, trade with the US totaled $477 billion in 2024, including $352 billion worth of goods sold to the US But China does more business with ASEAN.

Countries caught between the US and China are in “an impossible situation” because they need to stay economically connected both to China, "a source of a lot of their input and imports” and to the powerhouse US market, said Matthew Goodman, director of the Greenberg Center for Geoeconomic Studies at the Council on Foreign Relations.

“They cannot choose one or the other, because they need both,” Goodman said.

In Europe, China is preparing to lift sanctions to revive a trade deal, according to the Hong Kong-based South China Morning Post. Chinese state media have been calling on European leaders to join China in safeguarding the multilateralism.

Back in Beijing, Xi has been receiving foreign leaders. On Thursday, he told Kenya's president that China's market has always kept its door open to high-quality products from Kenya and that China encourages more capable Chinese enterprises to invest and start businesses in Kenya, according to the official Xinhua News Agency. On Wednesday, Xi met Azerbaijan's president. Xi criticised the trade war as undermining the rights and interests of all countries.

Beijing sounds resolute On Friday, when Xi presided over a key economic meeting, Beijing's leadership struck a positive tone but acknowledged “increasing impact from external shocks” and “urged preparing for worst-case scenarios with sufficient planning,” according to Xinhua.

Wang Yiwei, a senior fellow at Beijing's Center for China and Globalisation, said China, after dealing with Trump's first term, is prepared for his latest tariff approach. “China is prepared for the worst,” Wang said, “and it is no longer living in the fantasy of globalisation.” Victor Gao, vice president of the Center for China and Globalisation, said Beijing is prepared for decoupling. “What will be the end? It's a complete halt, meaning no more US exports to China, no more China exports to the United States,” he said.

And, despite high costs to China's economy, China will survive, Gao said. “For a country especially like China with a history of 5,000 years, what kind of people have we not seen? Whatever invaders, robbers, and barbarians,” Gao said. “But at the end, they all leave. They all disappear, all get defeated." (AP) AMS

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