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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
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    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
    Show AI Summary
    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
    Show AI Summary
    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
    Show AI Summary
    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
    Show AI Summary
    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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      Operation Sindoor not over yet, it showed world indigenous weapons' power: PM Modi

      May 30, 2025

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      Kanpur (UP), May 30 (PTI) India demonstrated the power of its indigenous weapons during Operation Sindoor which made "Pakistan plead to stop the war", Prime Minister Narendra Modi said on Friday and warned the action was "not over yet".

      During his visit here to inaugurate and lay the foundation stones for 15 development projects worth over Rs 47,600 crore, the PM addressed a rally and said he was to attend the programme on April 24 but had to cancel it due to the Pahalgam terror attack two days prior.

      As many as 26 people, including Kanpur businessman Shubham Dwivedi, died in the dastardly terror attack at the verdant meadows of Baisaran in Jammu and Kashmir's Pahalgam.

      In retaliatory action, India struck terror infrastructure in Pakistan and Pakistan-occupied Kashmir two weeks later, which triggered a four-day military standoff with the neighbouring country.

      The prime minister began his speech by referring to the Pahalgam massacre and said, "Kanpur's son Shubham Dwivedi also became a victim of that barbarity." "We all can feel the pain, suffering and anger of our daughter Aishanya (Shubham's widow). The world witnessed the same anger of our sisters and daughters in the form of Operation Sindoor." "Operation Sindoor is not over yet. It showed the world power of indigenous weapons and Make in India. We destroyed terrorist hideouts in Pakistan by going hundreds of miles inside. Indian weapons, Brahmos missiles entered enemy territory and wreaked havoc," Modi told the rally.

      He said the heroics of the Indian armed forces forced the Pakistani Army to "plead to stop the war" and asserted that India would no longer be intimidated by the threat of the nuclear bomb nor would it make a decision on that basis.

      Saluting the bravery of the armed forces' personnel, the prime minister reiterated India's uncompromising stance against terrorism.

      "The enemy, who was pleading during Operation Sindoor, should not be under any illusion, Operation Sindoor has not ended yet," Modi said and added that Pakistan's ploy of state and non-state actors was not going to work anymore.

      With his remark drawing cheers from the crowd, the prime minister sought to strike a chord of local sentiments by saying, "If I say in simple Kanpuriya language, the enemy will be struck down ('haunk diya jaayegaa') wherever it is." Laying out India's three principles in the fight against terror, Modi said, "First, India will give a befitting reply to every terrorist attack with the timing, manner, and the condition of the reply to be decided by our armies themselves." "Second, India will no longer be scared of the threat of atom bombs nor would it make a decision on that basis. And third, India will see the masters of terror and the government patronising terror in the same light." Highlighting India's growing defence capabilities, the prime minister said, "Our Indian weapons, the BrahMos missile entered the enemy's territory and wreaked havoc. They blasted wherever they targeted. We have got this power from the resolve of Aatmanirbhar Bharat." Turning to Kanpur's development, he emphasised the city was playing a pivotal role in India's defence manufacturing growth.

      "There is an old ordnance factory in Kanpur. We have converted seven such ordnance factories into big modern companies. The Kanpur node of the defence corridor is a big centre of Aatmanirbhar Bharat in the defence sector." "Big companies in the defence sector are coming here. The production of AK 203 rifles has begun in Amethi. The new address of BrahMos missile that did not let the enemies sleep during Operation Sindoor is Uttar Pradesh," Modi said.

      The PM promised employment opportunities, large-scale investments, and renewed industrial growth in Kanpur and said, "Taking Uttar Pradesh and Kanpur to newer heights of development is the first priority of this double-engine government." "The old glory of Kanpur will return again," he declared.

      Slamming the previous dispensations in the state for "ignoring" industrial development, Modi said, "Industries kept migrating from Kanpur. The dynasty-oriented ('Parvarvadi') government kept its eyes closed. The result was that not only Kanpur but the entire Uttar Pradesh lagged behind." About Metro expansion in the city, he said, "Kanpur Metro is the proof of the fact that if there is a government with right intentions, strong willpower and good intentions, then the development of the state is possible." He referenced improvements in road and rail infrastructure, the modernisation of the Kanpur Central Station and the construction of an elevated rail corridor to ease traffic and pollution to bolster his point.

      "The Kanpur Central railway station will get a modern and world-class look like an airport very shortly," the prime minister said while informing the rally that more than 150 railway stations in Uttar Pradesh were being upgraded under the Amrit Bharat scheme.

      Underlining Uttar Pradesh's rise, Modi noted that the state now has the highest number of international airports in the country. "We are making Uttar Pradesh a state of industrial possibilities." He said self-sufficiency in energy and strong infrastructure are key to Uttar Pradesh's industrial growth. He inaugurated several power projects, including the 660 MW Panki, 660 MW Neyveli, 1320 MW Jawaharpur, 660 MW Obra-C, and 660 MW Khurja plants, terming them a major step toward meeting the state's power needs.

      Mentioning welfare measures such as the distribution of Ayushman Vay Vandana Cards for free medical care for the elderly, Modi said these efforts reflect the government's commitment to Kanpur and the state's development.

      About infrastructure, he said UP has moved beyond pothole-filled roads to a state known for its expressways and announced the Kanpur-Lucknow Expressway will reduce travel time to 40-45 minutes with new links to the Purvanchal and Ganga Expressways.

      He also announced Rs 1,000 crore for an elevated rail corridor to ease congestion and save time.

      About the MSME sector, he said earlier definitions discouraged growth, but revised norms and new budget provisions now support expansion. He noted past credit challenges are being addressed through schemes like Mudra Yojana and the Credit Guarantee Scheme.

      MSME loan guarantees have been raised to Rs 20 crore, and credit cards with limits up to Rs 5 lakh are being provided, Modi said.

      "In this budget, we have made income up to Rs 12 lakh completely tax-free. This has given new confidence to crores of middle-class families," he said.

      Concluding his speech, the prime minister said, "We will leave no stone unturned in working hard to take the country and Uttar Pradesh to new heights." Earlier in the day, the prime minister met the family members of Shubham Dwivedi at the Chakeri airport here. PTI CDN NAV MAN NSD NSD

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