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    Parliament passes The Bankers' Books Evidence Bill, 2026
    DRI uncovers another clandestine drug manufacturing unit in Maharashtra
    Delhi HC gives Kejriwal 4 weeks to respond to ED pleas against acquittal in two cases
    Pesticide residues found in 58 food samples tested in Kerala, says Minister Siddique
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    Stolen phone of 88-year-old leads Delhi Police to bust interstate cyber-fraud syndicate; 9 held
    Rupee falls 11 paise to close at 95.28 against US dollar on firm crude oil prices
    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
    Freedom to Spend Smarter: AU Small Finance Bank Credit Cards Bring Rewards, EMI Flexibility and Lounge Access to India''s Biggest Shopping Month
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    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
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    August 10, 2026
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    Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
    The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
    August 10, 2026
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    Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
    Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
    August 10, 2026
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    Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
    Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
    August 10, 2026
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    Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
    Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
    August 10, 2026
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    Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
    Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
    August 10, 2026
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    Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
    The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
    August 10, 2026
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    GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
    GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
    August 10, 2026
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    Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
    Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
    August 10, 2026
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    Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
    Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
    August 10, 2026
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    Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
    The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
    August 10, 2026
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    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
    Show AI Summary
    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
    Show AI Summary
    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
    Show AI Summary
    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
    Show AI Summary
    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
    Show AI Summary
    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
    Show AI Summary
    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.

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      Trump says Russia-Ukraine ceasefire talks will begin immediately following call with Putin

      May 19, 2025

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      Washington, May 19 (AP) President Donald Trump said Monday that Russia and Ukraine will “immediately” begin ceasefire negotiations after what he described as an “excellent” call with Russian President Vladimir Putin that lasted more than two hours.

      Trump also spoke with Ukrainian leader Volodymyr Zelenskyy and European leaders in hopes of making progress toward a ceasefire.

      “The conditions for that will be negotiated between the two parties, as it can only be, because they know details of a negotiation that nobody else would be aware of,” Trump said in a social media post.

      Trump said the call was “excellent,” adding, "If it wasn't, I would say so now, rather than later.” The conversations came after the White House said the US leader has grown “frustrated” with both leaders over the continuing war in Ukraine.

      After the call, Putin said Russia was ready to continue discussing an end to the fighting, but he indicated there was no major breakthrough in what he termed a “very informative and very frank” conversation with Trump. Putin said the warring countries should “find compromises that would suit all parties." Moscow, he said, will “propose and is ready to work with” Ukraine on a “memorandum” outlining the framework for “a possible future peace treaty.” “At the same time, I would like to note that, in general, Russia's position is clear. The main thing for us is to eliminate the root causes of this crisis,” the Russian president said.

      Trump has struggled to end a war that began with Russia's invasion in February 2022. That makes these conversations a serious test of his reputation as a deal maker after having claimed he would quickly settle the conflict once he was back in the White House, if not even before he took office.

      Trump expressed his hopes for a “productive day” Monday — and a ceasefire — but ahead of the call, Vice President JD Vance said Trump is “more than open” to walking away from trying to end the war if he feels Putin isn't serious about negotiation.

      “He's grown weary and frustrated with both sides of the conflict,” White House press secretary Karoline Leavitt told reporters Monday ahead of the call. “He has made it clear to both sides that he wants to see a peaceful resolution and ceasefire as soon as possible.” The Republican president is banking on the idea that his force of personality and personal history with Putin will be enough to break any impasse over a pause in the fighting.

      “I'd say we're more than open to walking away,” Vance told reporters before leaving Rome after meeting with Pope Leo XIV. Vance said Trump has been clear that the US “is not going to spin its wheels here. We want to see outcomes.” Trump said the Vatican expressed interest in hosting the negotiations, but there was no immediate confirmation that any talks had been scheduled.

      Trump's frustration builds over failure to end war Trump's frustration about the war had been building before his post Saturday on Truth Social about the coming calls.

      Trump said his discussion with Putin would focus on stopping the “bloodbath” of the war. It also will cover trade, a sign that Trump might be seeking to use financial incentives to broker some kind of agreement after Russia's invasion led to severe sanctions by the United States and its allies that have steadily eroded Moscow's ability to grow.

      Trump's hope, according to the post, is that “a war that should have never happened will end.” Vance said Trump would press Putin on whether he was serious about negotiating an end to the conflict, saying Trump doesn't believe he is and that Trump may wash his hands of trying to end the war.

      “It takes two to tango,” Vance said, adding that “if Russia is not willing to do that, then we're eventually just going to have to say, this is not our war. It's Joe Biden's war, it's Vladimir Putin's war." His treasury secretary, Scott Bessent, said Sunday on NBC's “Meet the Press” that Trump had made it clear that a failure by Putin to negotiate “in good faith” could lead to additional sanctions against Russia.

      Bessent suggested the sanctions that began during the administration of Democratic President Joe Biden were inadequate because they did not stop Russia's oil revenues, due to concerns that doing so would increase US prices. The United States sought to cap Russia's oil revenues while preserving the country's petroleum exports to limit the damage from the inflation that the war produced.

      No ceasefire but an exchange of prisoners Putin recently rejected an offer by Zelenskyy to meet in-person in Turkey as an alternative to a 30-day ceasefire urged by Ukraine and its Western allies, including Washington. Instead, Russian and Ukrainian officials met in Istanbul for talks, the first such direct negotiations since March 2022.

      Those talks ended Friday after less than two hours, without a ceasefire in place. Still, both countries committed to exchange 1,000 prisoners of war each, with Ukraine's intelligence chief, Kyrylo Budanov, saying on Ukrainian television Saturday that the exchanges could happen as early as this week.

      While wrapping up his four-day trip to the Middle East, Trump said Friday that Putin had not gone to Turkey because Trump himself wasn't there.

      “He and I will meet, and I think we'll solve it or maybe not,” Trump told reporters after boarding Air Force One. “At least we'll know. And if we don't solve it, it'll be very interesting.” Zelenskyy met with Vance and Secretary of State Marco Rubio in Rome on Sunday, as well as European leaders, intensifying his efforts before the Monday calls.

      The Ukrainian president said on the social media site X that during his talks with the American officials, they discussed the negotiations in Turkey and that “the Russians sent a low level delegation of non-decision-makers.” He also said he stressed that Ukraine is engaged in ”real diplomacy” to have a ceasefire.

      “We have also touched upon the need for sanctions against Russia, bilateral trade, defense cooperation, battlefield situation and upcoming prisoners exchange,” Zelenskyy said. “Pressure is needed against Russia until they are eager to stop the war.” The German government said Chancellor Friedrich Merz and French, British and Italian leaders spoke with Trump late Sunday about the situation in Ukraine and his upcoming call with Putin. A brief statement gave no details of the conversation, but said the plan is for the exchange to be continued directly after the Trump-Putin call. (AP) GSP

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