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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
    India's exports surge 19.6 pc in Jul; trade deficit widens to six-month high
    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...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    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
    Ratul Puri: Beyond Low-Cost Power to Clean Energy Reliability
    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
    Compounded annual growth rate of Manufacturing GVA at constant prices (2022-23 base) as per revised series during 2022-23 to 2025-26 is 10.88%
    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
    Airtel ends all prepaid mobile plans offering 1.5 GB data per day with unlimited calls
    ED arrests IBC resolution professional
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    August 13, 2026
    Show AI Summary
    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
    Show AI Summary
    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
    SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
    August 13, 2026
    Show AI Summary
    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
    Show AI Summary
    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
    Show AI Summary
    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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      AI-powered trade, innovation deepen China-ASEAN ties

      June 3, 2025

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      NANNING, China, June 3, 2025 /Xinhua-AsiaNet/ -- Vietnamese truckers, armed with AI-enabled gadgets that provide real-time navigation and safety tips, deftly maneuvered their way into China through Friendship Pass in Guangxi Zhuang Autonomous Region.

      Meanwhile, several kilometers away at a buzzing e-commerce industrial park, Southeast Asian live streamers passionately engaged with their viewers, churning out a barrage of speech data for a specialized ASEAN (Association of Southeast Asian Nations) language corpus to improve AI translation models.

      As China and ASEAN continue to deepen their trade ties, the rapid evolution of AI has opened new applications, further boosting economic engagement and reshaping industries across the region.

      ENHANCING CROSS-BORDER TRADE As China's largest land port with ASEAN, Friendship Pass has seen its customs clearance and other port operations being swiftly transformed by AI.

      At a distribution center in Guangxi Pingxiang Comprehensive Bonded Area, a network of wall-mounted AI cameras carefully scans every piece of cargo on deck -- identifying any signs of discrepancies and flagging potential risks in real time.

      The integration of new technology has greatly reduced the need for human intervention, enhancing accuracy and efficiency.

      "In the past, each inspection post needed to be manned by a staffer," said Liang Baoming, head of the smart port project at Friendship Pass. "Now, thanks to this powerful equipment, one worker can oversee a task that used to require an entire shift of people." Throughout this region, the application of AI is revolutionizing the transport and logistics industries.

      In the command center of Guangxi Beitou IT Innovation Technology Investment Group CO., Ltd., located at a sprawling commercial hub in Guangxi's capital city of Nanning, a state-of-the-art risk management platform was actively monitoring real-time interactions between the support staff and a fleet of truckers ferrying goods between China and Vietnam.

      "Our AI-enhanced platform analyzes drivers' facial expressions to spot signs of fatigue and send out real-time safety alerts," said Li Heng, deputy head of the company's technology institute. "Since its launch last June, the system has provided over 5,000 trucks and 10,000 drivers on the road with essential services such as satellite navigation, safe driving tips and emergency responses." The innovation is part of a broader effort to incorporate AI into Guangxi's trade framework, aiming to optimize logistics and increase connectivity with ASEAN economies.

      So far, Beitou has made huge strides in developing a suite of products tailored for ASEAN markets, catering to the region's growing needs in integrated transport, water management, industrial finance and other emerging sectors.

      Among these forward-looking solutions, products like air-ground inspection drones and a digital certificate platform have been meticulously crafted -- to meet the region's urgent demand for more efficient logistics and more secure cross-border services.

      In recent years, AI has played an increasingly important role in fostering deeper trade ties and cultural exchanges.

      This year, an AI translation model for ASEAN languages developed by Guangxi Daring Technology Co., Ltd. is set to widen access to cutting-edge language technologies for potentially under-represented languages in the region.

      "Unlike generic models, this system is fine-tuned for languages like Vietnamese, delivering faster, more accurate translations with lower computational demands," said Wen Jiakai, general manager of the company. "And our focus on ASEAN languages helps ensure a high accuracy rate and linguistic consistency." POWERING REGIONAL INNOVATION The Publicity Department of Guangxi Zhuang Autonomous Region introduced that since the beginning of 2025, China has doubled down on its pledge to build a collaborative future with ASEAN countries in the field of AI, with a host of projects and application scenarios having successively advanced toward rapid deployment.

      In February this year, Guangxi and Laos held a signing ceremony in the Laotian capital of Vientiane, formally establishing the China-Laos AI Innovation Cooperation Center.

      Notably, this groundbreaking initiative marked the first AI-focused innovation platform ever created between China and an ASEAN country, with the primary objective of systematically bolstering Laos's technology foundation for its diverse industries to thrive in the digital age.

      To date, Guangxi and Laos have inked over 10 Letters of Intent, eyeing an enhanced partnership concerning the development of AI and cross-border data sharing.

      In April, Beitou partnered with MY E.G. Services Berhad (MYEG), Malaysia's premier digital services company, to develop the China-Malaysia AI Innovation Center, delving even deeper into areas such as blockchain and robotics.

      Lai Shuiping, chairman of Beitou, highlighted the vast, but largely untapped potential for cooperation between China and ASEAN countries in AI.

      According to Lai, the first project under this initiative will introduce a mutual recognition system for digital identity in both China and Malaysia, with Guangxi set to serve as the initial pilot region.

      Once implemented, the system will empower Malaysian citizens to utilize "MyDigital ID" for seamless access to financial services and tourist attractions, while allowing Chinese citizens to navigate Malaysia with equal ease, paving the way for smoother business transactions and personal interactions.

      This March also marked the official launch of Wuxiang Cloud Valley AI Intelligent Computing Industrial Park in Nanning, as this region continued to step up its efforts in terms of comprehensive AI development, encompassing AI computing power, service platforms, algorithm innovation, and cloud and data security.

      The industrial park has also forged a partnership with local authorities to invest in the building of powerful training clusters and the advancement of research and development (R&D) of customized AI models.

      In addition, this project is expected to generate leasing services for AI computing power designed for ASEAN industries, promoting cross-regional flow and shared use of core AI resources -- including computing power, technologies and talents.

      According to Dong Weijun, the head of the industrial park, efforts are being made to accelerate the deployment of ASEAN-facing AI large models across various sectors, such as agriculture, apparel, consumer electronics, toys and cosmetics, thus nurturing vibrant industry clusters.

      "By cultivating a robust AI industry ecosystem, this initiative will position Guangxi as a new highland of AI innovation tailored for the ASEAN market," he said.

      GUANGXI AS AI HUB FOR ASEAN In a bid to transform itself into a regional center for innovation, Guangxi has spearheaded the development of a cross-border industrial ecosystem by leveraging world-leading R&D from top-tier cities like Beijing, Shanghai, Guangzhou and Shenzhen, integrating these advancements locally before putting them in practice across ASEAN.

      Nanning has also put the building of the China-ASEAN AI Innovation Cooperation Center in motion -- harnessing the power of AI to invigorate a wide array of industries.

      Some prominent global and domestic enterprises have flocked to the city and set up regional operations to explore collaboration opportunities, with partnerships and joint ventures having gradually taken shape in promising fields such as model training, data annotation and AI applications in education and cultural tourism.

      Launched earlier this year, the construction site of the AI Innovation Center at Nanning International Science and Technology Industrial City has become a hive of activity, featuring the frenetic pace of overhead cranes and engineering vehicles in constant motion.

      This project, spanning over 70 square kilometers, marks a significant milestone in China-Singapore industrial cooperation, and focuses on a pivotal trio in terms of bilateral cooperation -- AI, new energy applications and new health technologies.

      To underpin this ambitious vision, Nanning has rolled out an initial policy package aimed at driving the high-quality development of the project, according to an official document.

      This package comprises 22 initiatives spread across seven key areas, including fostering industrial clusters, promoting open data governance, supporting model development and deepening cooperation with ASEAN nations.

      Officials from Guangxi's Department of Industry and Information Technology have revealed that the region has outlined a big picture vision to construct a network of AI industrial parks and cutting-edge manufacturing clusters. The goal is to achieve a production output of AI-related industries that surpasses 100 billion yuan (13.9 billion U.S. dollars) by 2027, thereby initially establishing Guangxi as a leading AI hub for the ASEAN region.

      Source: The Publicity Department of Guangxi Zhuang Autonomous Region (Disclaimer: The above press release comes to you under an arrangement with Asianet and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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