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    Over 745 gram gold paste seized at IGI; Customs nab carrier, receiver
    Quebec remains cautious on Canada-US trade deal as Ottawa pushes to restore US alcohol
    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
    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
    DPIIT Signs MoUs with PhonePe and Shell India to Strengthen Startup Ecosystem and Drive Innovation
    Union Minister of Commerce and Industry Shri Piyush Goyal Strengthens India-Singapore Economic Partnership through High-Level Bilateral and Business E...
    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
    Razorpay Launches Multi-Currency Account, Helping Exporters Retain International Earnings in Foreign Currencies
    DB HiTek to Make Debut at electronica India 2026, Targeting Growth in Indian Market
    BJP demands Vijayan’s resignation from Keralam LoP post over ED findings in CMRL case
    Pakistan seeks USD 10 bn US facility to bolster forex stability
    DRI busts a wildlife trafficking syndicate involved in illicit trade of ivory artefacts
    Japan reports record exports, imports for July as energy costs climb
    Five held in UP's Bareilly for alleged fake Ayushman cards racket
    MSMEs are the true builders of India’s economic resilience: LG Sinha
    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
    Bihar Police arrests man over alleged exam irregularities
    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
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    August 20, 2026
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    Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
    Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
    August 20, 2026
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    Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
    Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
    August 20, 2026
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    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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.

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      Customs & Trade

      PAP secures landslide victory in Singapore General Election; PM Wong gets strong mandate

      May 4, 2025

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      Singapore, May 4 (PTI) In an election held amid global economic uncertainties, the People’s Action Party (PAP) returned to government in a stunning victory by winning 87 out of 97 seats, with Prime Minister Lawernce Wong securing a strong mandate.

      Against the backdrop of party renewal and leadership transition, Singaporeans at the ballot box on May 3 chose political stability and economic safety over the opposition’s calls for greater checks and balances, reported Channel News Asia.

      In all, 65.57 per cent of the 2,386,452 valid votes cast went to the PAP -- up from 61.24 per cent in the 2020 General Election -- in what was PM Wong's first electoral test leading the ruling party.

      The PAP, Singapore’s oldest and largest political party, has ruled the city-state ever since independence in 1965.

      Speaking at the PAP’s post-election press conference held at 3 am on Sunday, Wong said that Singaporeans have given the party that has ruled the prosperous city state a “clear and strong mandate to govern”.

      Reiterating that the bigger contest is not between political parties but between Singapore and the challenges it faces, Wong noted that the election took place at a critical time for the country, as the world faces an economic slowdown as well as fundamental shifts in the international order.

      “The results will put Singapore in a better position to face this turbulent world... It's a clear signal of trust, stability and confidence in your government,” said Wong.

      "Singaporeans, too, can draw strength from this and look ahead to our future with confidence," the channel had quoted Wong as saying.

      He added that he was "deeply humbled and grateful" for the results, and that the PAP will work even harder with this mandate to ensure concrete progress for Singapore.

      Wong pointed out that many, international media, investors and foreign governments, were watching this election closely.

      “It is a changed world – not just an economic slowdown, but fundamental shifts in the international order,” he said.

      “To all Singaporeans, I say the results will motivate us to work even harder for you. We will do our best to serve you and improve your lives,” said Wong.

      This was Wong’s first election as prime minister of the global-business focused Singapore which now faces navigating through strong headwinds caused by tariffs imposed by US President Donald Trump.

      Wong said his immediate task is to form his next Cabinet, which will be announced when ready.

      The 52-year-old premier also reflected on the concerns that had been raised throughout the hustings.

      Singaporeans have given feedback on the cost of living and housing, he noted.

      “We have been working on these issues, and I assure you, we will redouble our efforts in the coming term to tackle these issues of concern,” he said.

      The Workers’ Party (WP), rated as one of the strongest opposition parties in the island state, managed to retain its 10 parliamentary seats.

      A total of 2,429,281 votes, including rejected votes, were cast in the country’s 14th election since independence.

      The Elections Department (ELD) said Singaporeans cast their votes for 92 out of 97 parliamentary seats at 1,240 polling stations island-wide to decide the future politics of Singapore.

      This was Singapore’s 19th election since the first general election in 1948 and 14th since its Independence in 1965.

      Wong was sworn-in last May as the new prime minister in 20 years after Lee Hsien Loong stepped down after almost two decades.

      There was vociferous campaigning by opposition political parties, raising issues related to high cost of living and housing as well as increasing presence of foreigners in almost all sectors of the economy in the manpower-short Singapore.

      Top PAP leaders were seen balancing their election schedules during the last nine days of campaigning since nominations closed on April 23 along with negotiating tariffs imposed by Singapore’s largest trading partner US.

      Singapore’s Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong had been negotiating with his US counterparts on a 10 per cent tariff imposed on imports from Singapore.

      The PAP fielded candidates in all 92 constituencies, while its main rival, the Workers’ Party (WP), contested 26 seats in eight constituencies.

      The Progress Singapore Party (PSP) fielded 13 candidates across six constituencies. Other parties in the fray included the Singapore People’s Party (SPP), Singapore Democratic Party (SDP), People’s Power Party (PPP), People’s Alliance for Reform (PAR), Red Dot United (RDU), National Solidarity Party (NSP), Singapore United Party (SUP), and Singapore Democratic Alliance (SDA).

      Prime Minister Wong had urged Singaporeans to vote responsibly as the global economies are going through unprecedented challenges and led to uncertainties.

      The finance-trade-export focused city state sits in the middle of US-China trade war, having historical bilateral economic and diplomatic relations with both the giant markets, diplomatic sources said.

      Manufacturing activity in Singapore fell into recession territory in April 2025 as tariffs announced by US President Donald Trump triggered a wave of export-order deferments and cancellations.

      The purchasing managers’ index (PMI), a barometer of the manufacturing sector’s health, fell to 49.6 points in April, down one point from 50.6 in March; readings above 50 indicate growth while those below point to contraction.

      “The contraction in Singapore’s factory activity snaps 19 straight months of expansion,” reported The Straits Times, citing a Singapore Institute of Purchasing and Materials Management (SIPMM) report on Friday.

      Meanwhile, the PAP had a walkover in one constituency of five members of parliament at the close of nomination day on April 23.

      The PAP’s share of the popular vote slipped to a near-record low of 61 per cent in 2020 elections, down from nearly 70 per cent in 2015 and although it kept 83 out of 93 parliamentary seats, the opposition gained ground with a record 10 seats. PTI GS NB NB

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