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    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    Currently nine trade disputes pending against India under WTO rules: Govt
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    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
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    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.

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      Trump visiting Gulf Arab states while crises flare in Gaza, Iran

      May 12, 2025

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      Dubai, May 12 (AP) On his trip this week to the Middle East, US President Donald Trump will visit Saudi Arabia, Qatar and the United Arab Emirates, though his most pressing regional challenges concern two other countries: Israel and Iran.

      After ending a ceasefire two months ago, Israel is intensifying the war in the Gaza Strip, where a blockade on food, medicine and other supplies is worsening a humanitarian crisis. And Iran, an enemy of Israel and a rival of Saudi Arabia, stands on the cusp of being able to develop nuclear weapons.

      Yet Trump will focus his attention on three energy-rich nations home to existing or planned Trump-branded real estate projects — places where he aims to leverage American economic interests to do what he personally revels in: making business deals.

      “This is his happy place,” said Jon B Alterman, a senior vice president at the Washington-based Centre for Strategic and International Studies. “His hosts will be generous and hospitable. They'll be keen to make deals. They'll flatter him and not criticize him. And they'll treat his family members as past and future business partners.” But Trump won't be able to avoid altogether diplomacy on Gaza or Iran: The Gulf countries hosting him are also interested in easing the regional tensions that emanate from these two places.

      “Trump can easily score a win by reassuring them of America's strategic commitment to the region, demonstrating consistent messaging and generally rising above the fray,” analysts Elizabeth Dent and Simon Henderson of the Washington Institute for Near East Policy wrote Friday.

      Trump doesn't plan to visit Israel By not scheduling a trip to Israel during his first trip to the region during his second term as president, Trump is reinforcing a feeling in Israel that its interests may not be top of mind for him.

      That sense intensified last week, when Trump announced that the US would halt its strikes on the Houthis, an Iran-backed rebel group in Yemen that agreed to stop its attacks on American vessels in the Red Sea.

      The Houthis' attacks on Israel did not appear to be covered by that deal, which came as a surprise to Israel, according to an Israeli official who spoke on condition of anonymity to discuss a sensitive diplomatic issue. Days after the deal between the US and the Houthis — and despite a two-day Israeli assault on Houthi targets — a missile from Yemen again set off air raid sirens in Israel. Then Israel's military warned Sunday that Houthi-controlled ports in Yemen could be targeted again.

      Trump's move to launch negotiations with Iran over its nuclear programme also jarred Israel, which fears a deal that would not be strict enough to prevent Iran from obtaining a nuclear weapon or rein in its support for regional militant groups.

      Israel had hoped that Trump might provide military assistance in any strike it carried out on the country's nuclear facilities — an action that is unrealistic so long as there are negotiations, or if they reach a deal.

      That has raised questions in Israel over Trump's reliability on other major issues, like a long-sought normalisation deal with Saudi Arabia as part of any defence pact the administration may reach with the kingdom. Saudi Arabia has said it would only normalize ties with Israel in exchange for significant concessions for the Palestinians toward statehood, something the current Israeli government is unlikely to agree to.

      Israel has said it will hold off on expanding the war in Gaza until after Trump's visit, leaving the window open for a new ceasefire deal to materialize. But Trump's earlier attention on the war appears to have shifted, and it's unclear how hard his administration is working to goad the sides toward a deal. Trump has given Israel free rein in Gaza and, like Israel, blames Hamas for any civilian casualties.

      US Ambassador to Israel Mike Huckabee played down any significance to Trump's decision not to visit the country, saying in interviews with Israeli media that his visit to the region was focused on economic issues.

      And on Sunday, Hamas said the last living American hostage in Gaza, Edan Alexander, will be released as part of efforts to establish a ceasefire, reopen crossings into the Israeli-blockaded territory and resume the delivery of aid.

      No major breakthrough in Iran nuclear talks For Iran, much depends on the talks it is having with the US over its rapidly advancing nuclear programme. A reported two-month deadline to reach a deal likely has passed as US officials signal America may push for Iran to give up enrichment entirely — something Tehran has insisted is a red line.

      Although four rounds of talks mediated by Oman have not led to a major breakthrough, they have gone into the so-called “expert level” — meaning specifics about any possible accord likely have been discussed.

      Iranian Foreign Minister Abbas Araghchi traveled over the weekend to both Saudi Arabia and Qatar ahead of Trump's trip. Iran likely is trying to pass messages to the US while signalling its interest in continuing the talks. Iranian officials increasingly threaten to pursue a nuclear weapon, while Trump and Israel have both threatened to strike Iranian nuclear sites if a deal isn't reached.

      The Islamic Republic is running out of options. Its economy has cratered since Trump in 2018 unilaterally pulled America out of their initial nuclear deal with world powers. And Iran's self-described “Axis of Resistance” — a group of aligned nations and militant groups, including Hamas in Gaza and Hezbollah in Lebanon — has been mauled since the Israel-Hamas war began.

      Iran also faces internal political pressure, including from women increasingly refusing to wear the state-mandated headscarf, or hijab.

      There is one thing that unites most Iranians, however — pride over the Persian Gulf. Trump's consideration of having America uniformly call the body of water the “Arabian Gulf” instead drew fierce criticism from across the country.

      “This gulf has always been the Persian Gulf — and it will forever remain the Persian Gulf,” Tehran's Friday prayer leader Ayatollah Ahmad Khatami said Trump's 2017 trip still haunts the Gulf After starting his trip in Saudi Arabia, Trump will then go to Qatar, which recently announced plans for a Trump-branded development there.

      This tight embrace of the president comes after his first trip to the Middle East — in 2017 — apparently sparked what became known as the Qatar crisis. That is when Bahrain, Egypt, Saudi Arabia and the UAE boycotted Qatar over its support of Islamists in the region and its ties to Iran, with which it shares a massive offshore natural gas field.

      The dispute grew so serious that Kuwait's ruling emir at the time, Sheikh Sabah Al Ahmad Al Sabah, suggested on a visit to the White House there could have been “military action.” Trump initially criticized Qatar as having “historically been a funder of terrorism at a very high level” at the start of the boycott. Less than a year later, he praised Qatar and rolled that back. The four nations ended their boycott just before Biden took office.

      Then on Sunday, President Donald Trump said he was ready to accept a luxury Boeing 747-8 jumbo jet as a gift from the ruling family of Qatar during his trip to the Middle East. US officials say it could be converted into a potential presidential aircraft — which would amount to the president accepting an astonishingly valuable gift from a foreign government With crude oil prices trading just over $60 a barrel — lows not seen since 2021 — one major criticism Trump has for the Gulf states isn't there. The question is how Trump will deal with the region's multitude of crises and still-tender wounds.

      To avoid a repeat of the 2017 diplomatic crisis, Trump “should reemphasise efforts to unite the Gulf" said Dent and Henderson, of the Washington Institute for Near East Policy. (AP) NSA NSA

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