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    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
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    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
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    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
    Vizhinjam port to commence EXIM operations from Aug 18: Kerala CM Satheesan
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    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
    India and the Southern African Customs Union (SACU) sign Terms of Reference (ToR) for negotiations towards a Preferential Trade Agreement
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    August 13, 2026
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    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
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    August 13, 2026
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    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
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    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
    August 13, 2026
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    Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
    Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
    August 13, 2026
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    Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
    Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
    August 13, 2026
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    Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
    India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
    August 13, 2026
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    Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
    Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
    August 13, 2026
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    Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
    Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
    August 13, 2026
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    Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
    IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
    August 13, 2026
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    Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
    India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
    August 13, 2026
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    EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
    Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
    August 13, 2026
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    Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
    Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
    August 13, 2026
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    Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
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    August 13, 2026
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    Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
    Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
    August 13, 2026
    Show AI Summary
    Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
    NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
    August 13, 2026
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    CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
    CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
    August 13, 2026
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    Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
    India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
    August 12, 2026
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    Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
    Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
    August 12, 2026
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    Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
    Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.

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      After crossing border for better schools, some parents pulling their kids, leaving US

      May 21, 2025

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      New York, May 21 (AP) For the last two months of their life in the United States, José Alberto González and his family spent nearly all their time in their one-bedroom Denver apartment. They didn't speak to anyone except their roommates, another family from Venezuela.

      They consulted WhatsApp messages for warnings of immigration agents in the area before leaving for the rare landscaping job or to buy groceries.

      But most days at 7:20 am, González's wife took their children to school.

      The appeal of their children learning English in American schools, and the desire to make money, had compelled González and his wife to bring their 6- and 3-year-old on the monthslong journey to the United States.

      They arrived two years ago, planning to stay for a decade. But on Feb 28, González and his family boarded a bus from Denver to El Paso, where they would walk across the border and start the long trip back to Venezuela.

      Even as immigrants in the US avoid going out in public, terrified of encountering immigration authorities, families across the country are mostly sending their children to school.

      That's not to say they feel safe. In some cases, families are telling their children's schools that they're leaving.

      Already, thousands of immigrants have notified federal authorities they plan to “self-deport,” according to the Department of Homeland Security. President Donald Trump has encouraged more families to leave by stoking fears of imprisonment, ramping up government surveillance, and offering people USD 1,000 and transportation out of the country.

      And on Monday, the Supreme Court allowed the Trump administration to strip legal protections from hundreds of thousands of Venezuelan immigrants, potentially exposing them to deportation. Without Temporary Protective Status, even more families will weigh whether to leave the US, advocates say.

      Departures in significant numbers could spell trouble for schools, which receive funding based on how many students they enrol.

      “The amount of fear and uncertainty that is going through parents' heads, who could blame somebody for making a choice to leave?” said Andrea Rentería, principal of a Denver elementary school serving immigrant students. “I can tell them as a principal that I won't let anybody in this school. Nobody is taking your kid. But I can't say the same for them out in the workforce or driving somewhere.” Rumors of immigration raids on schools became a turning point When Trump was elected in November after promising to deport immigrants and depicting Venezuelans, in particular, as gang members, González knew it was time to go. He was willing to accept the trade-off of earning just USD 50 weekly in his home country, where public schools operate a few hours a day.

      “I don't want to be treated like a delinquent,” González said in Spanish. “I'm from Venezuela and have tattoos. For him, that means I'm a criminal.” It took González months to save up the more than USD 3,000 he needed to get his family to Venezuela on a series of buses and on foot. He and his wife didn't tell anyone of their plan except the single mom who shared their apartment, afraid to draw attention to themselves. Telling people they wanted to leave would signal they were living here illegally.

      They sent their children to their Denver school regularly until late February, when González's phone lit up with messages claiming immigration agents were planning raids inside schools. That week, they kept their son home.

      “Honestly, we were really scared for our boy,” González said. “Because we didn't have legal status.” In the months following Trump's inauguration, Denver Public School attendance suffered, according to district data.

      Attendance districtwide fell by 3 per cent in February compared with the same period last year, with even steeper declines of up to 4.7 per cent at schools primarily serving immigrant newcomer students. The deflated rates continued through March, with districtwide attendance down 1.7 per cent and as much as 3.9 per cent at some newcomer schools.

      Some parents told Denver school staff they had no plans to approach their children's campus after the Trump administration ended a policy that had limited immigration enforcement at schools.

      The Denver school district sued the government over that reversal, saying attendance dropped “noticeably” across all schools, “particularly those schools in areas with new-to-country families and where ICE raids have already occurred.” A federal judge ruled in March the district failed to prove the new policy caused the attendance decline.

      Attendance dropped in many schools following Trump's inauguration Data obtained from 15 districts across eight additional states, including Texas, Alabama, Idaho and Massachusetts, showed a similar decline in school attendance after the inauguration for a few weeks. In most places, attendance rebounded sooner than in Denver.

      From 2022 to 2024, more than 40,000 Venezuelans and Colombian migrants received shelter or other assistance from Denver. Trump said during the campaign he would begin his mass deportation efforts nearby, in the suburb of Aurora, because of alleged Venezuelan gang activity.

      Nationwide, schools are still reporting immediate drops in daily attendance during weeks when there is immigration enforcement — or even rumours of ICE raids — in their communities, said Hedy Chang of the nonprofit Attendance Works, which helps schools address absenteeism.

      Dozens of districts didn't respond to requests for attendance data. Some said they feared drawing the attention of immigration enforcement.

      In late February, González and his wife withdrew their children from school and told administrators they were returning to Venezuela. He posted a goodbye message on a Facebook group for Denver volunteers he used to find work and other help. “Thank you for everything, friends,” he posted. “Tomorrow I leave with God's favour.” Immediately, half a dozen Venezuelan and Colombian women asked him for advice on getting back. “We plan to leave in May, if God allows,” one woman posted in Spanish.

      In Denver, 3,323 students have withdrawn from school through mid-April – an increase of 686 compared with the same period last year. Denver school officials couldn't explain the uptick.

      At the 400-student Denver elementary school Andrea Rentería heads, at least two students have withdrawn since the inauguration because of immigration concerns. One is going back to Colombia and the other didn't say where they were headed.

      School officials in Massachusetts and Washington state have confirmed some students are withdrawing from school to return to El Salvador, Brazil and Mexico. Haitians are trying to go to Mexico or Canada.

      In Chelsea, Massachusetts, a 6,000-student district where nearly half the students are still learning English, a handful of families have recently withdrawn their children because of immigration concerns.

      One mother in March withdrew two young children from the district to return to El Salvador, according to district administrator Daniel Mojica. Her 19-year old daughter will stay behind, on her own, to finish school – a sign that these decisions are leading to more family separation.

      In Bellingham, Washington, two families withdrew their children after an Immigration and Customs Enforcement raid in early April at a local roofing company, where agents arrested fathers of 16 children attending Bellingham schools. Both families returned to Mexico, family engagement specialist Isabel Meaker said.

      “There's a sense, not just with these families, that it's not worth it to fight. They know the end result,” Meaker said.

      Immigrant families are gathering documents they need to return home Countries with large populations living in the United States are seeing signs of more people wanting to return home.

      Applications for Brazilian passports from consulates in the U.S. increased 36% in March, compared to the previous year, according to data from the Brazilian Foreign Ministry. Birth registrations, the first step to getting a Brazilian passport for a US-born child, were up 76 per cent in April compared to the previous year. Guatemala reports a 5 per cent increase over last year for passports from its nationals living in the United States.

      Last month, Melvin Josué, his wife and another couple drove four hours from New Jersey to Boston to get Honduran passports for their American-born children.

      It's a step that's taken on urgency in case these families decide life in the United States is untenable. Melvin Josué worries about Trump's immigration policy and what might happen if he or his wife is detained, but lately he's more concerned with the difficulty of finding work.

      Demand for his drywall crew immediately stopped amid the economic uncertainty caused by tariffs. There's also more reluctance, he said, to hire workers here illegally.

      (The Associated Press agreed to use only his first and middle name because he's in the country illegally and fears being separated from his family.) “I don't know what we'll do, but we may have to go back to Honduras,” he said. “We want to be ready.” The size of the exodus and its impact on schools remains unclear, but already some are starting to worry.

      A consultant working with districts in Texas on immigrant education said one district there has seen a significant drop in summer school sign-ups for students learning English.

      “They're really worried about enrolment for the fall,” said Viridiana Carrizales, chief executive officer of ImmSchools, a nonprofit that advises school districts how to meet the needs of immigrant students and their families.

      Education finance experts predict budget problems for districts with large immigrant populations.

      “Every student that walks in the door gets a chunk of money with it, not just federal money, but state and local money, too,” said Marguerite Roza, a Georgetown University professor focusing on education finance. “If a district had a lot of migrant students in its district, that's a loss of funds potentially there. We think that's a real high risk.” Trump's offer to pay immigrants to leave and help them with transportation could hasten the departures.

      González, now back in Venezuela, says he wouldn't have accepted the money, because it would have meant registering with the US government, which he no longer trusts. And that's what he's telling the dozens of migrants in the US who contact him each week asking the best way home.

      Go on your own, he tells them. Once you have the cash, it's much easier going south than it was getting to the US in the first place. (AP) RD RD

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