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    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
    DGFT Removes Physical Duty Payment Challans for Export Obligation Discharge Certificate Applications under Advance Authorisation and Export Promotion ...
    TRAI directs use of 1601-series for service, transactional calls by utilities, logistics cos
    Nagaland tax revenue rises to Rs 1,597 crore in FY'26
    India's Russian crude imports hit record for second straight month
    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
    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    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
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
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    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
    Show AI Summary
    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
    Show AI Summary
    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.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.

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      Customs & Trade

      New German leader plans to discuss Ukraine and trade with Trump in Oval Office visit

      June 5, 2025

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      Washington, Jun 5 (AP) Germany's new leader is meeting President Donald Trump in Washington on Thursday as he works to keep the US on board with Western support for Ukraine, help defuse trade tensions that pose a risk to Europe's biggest economy and further bolster his country's long-criticised military spending.

      Trump and Chancellor Friedrich Merz have spoken several times by phone, either bilaterally or with other European leaders, since Merz took office on May 6. German officials say the two leaders have started to build a "decent" relationship, with Merz wanting to avoid the antagonism that defined Trump's relationship with one of his predecessors, Angela Merkel, in the Republican president's first term.

      The 69-year-old Merz is a conservative former rival of Merkel's who took over her party after she retired from politics. Merz also comes to office with an extensive business background — something that could align him with Trump.

      A White House official said topics that Trump is likely to raise with Merz include Germany's defence spending, trade, Ukraine and what the official called "democratic backsliding," saying the administration's view is that shared values such as freedom of speech have deteriorated in Germany and the country should reverse course. The official spoke on condition of anonymity to preview the discussions.

      Merz will want to avoid an Oval Office showdown of the kind that Ukrainian President Volodymyr Zelenskyy and South African President Cyril Ramaphosa experienced in recent months. Asked about the risk of a White House blow-up, Merz spokesperson Stefan Kornelius said on Monday that the chancellor is "well-prepared" for the meeting and that he and Trump have "built up a decent relationship, at least by phone" and via text messaging.

      Keeping Ukraine's Western backers together Merz has thrown himself into diplomacy on Ukraine, travelling to Kyiv with fellow European leaders days after taking office and receiving Zelenskyy in Berlin last week. He has thanked Trump for his support for an unconditional ceasefire while rejecting the idea of "dictated peace" or the "subjugation" of Ukraine and advocating for more sanctions against Russia.

      The White House official said Trump on Thursday will stress that direct peace talks must continue.

      In their first phone call since Merz became chancellor, Trump said he would support the efforts of Germany and other European countries to achieve peace, according to a readout from the German government. Merz also said last month that "it is of paramount importance that the political West not let itself be divided, so I will continue to make every effort to produce the greatest possible unity between the European and American partners." Under Merz's immediate predecessor, Olaf Scholz, Germany became the second-biggest supplier of military aid to Ukraine after the United States. Merz has vowed to keep up the support and last week pledged to help Ukraine develop its own long-range missile systems that would be free of any range limits.

      Military spending At home, Merz's government is intensifying a drive that Scholz started to bolster the German military after Russia launched its full-scale invasion of Ukraine. In Trump's first term, Berlin was a target of his ire for failing to meet the current NATO target of spending 2 per cent of gross domestic product on defence, and Trump is now demanding at least 5 per cent from allies.

      The White House official said the upcoming NATO summit in the Netherlands later this month is a "good opportunity" for Germany to commit to meeting that 5 per cent mark.

      Scholz set up a 100 billion euro (USD 115 billion) special fund to modernise Germany's armed forces — called the Bundeswehr — which had suffered from years of neglect. Germany has met the 2 per cent target thanks to the fund, but it will be used up in 2027.

      Merz has said that "the government will in the future provide all the financing the Bundeswehr needs to become the strongest conventional army in Europe." He has endorsed a plan for all allies to aim to spend 3.5 per cent of GDP on their defence budgets by 2032, plus an extra 1.5 per cent on potentially defence-related things like infrastructure.

      Germany's economy and tariffs Another top priority for Merz is to get Germany's economy, Europe's biggest, moving again after it shrank the past two years. He wants to make it a "locomotive of growth", but Trump's tariff threats are a potential obstacle for a country whose exports have been a key strength. At present, the economy is forecast to stagnate in 2025.

      Germany exported USD 160 billion worth of goods to the US last year, according to the Census Bureau. That was about USD 85 billion more than what the US sent to Germany, a trade deficit that Trump wants to erase.

      The US president has specifically gone after the German auto sector, which includes major brands such as Audi, BMW, Mercedes Benz, Porsche and Volkswagen. Americans bought USD 36 billion worth of cars, trucks and auto parts from Germany last year, while the Germans purchased USD 10.2 billion worth of vehicles and parts from the US.

      Trump's 25 per cent tariff on autos and parts is specifically designed to increase the cost of German-made automobiles in hopes of causing them to move their factories to the US, even though many of the companies already have plants in the US with Volkswagen in Tennessee, BMW in South Carolina and Mercedes-Benz in Alabama and South Carolina.

      There's only so much Merz can achieve on his view that tariffs "benefit no one and damage everyone" while in Washington, as trade negotiations are a matter for the European Union's executive commission. Trump recently delayed a planned 50 per cent tariff on goods coming from the European Union, which would have otherwise gone into effect this month.

      Far-right tensions One source of strain in recent months is a speech Vice-President JD Vance gave in Munich shortly before Germany's election in February, in which he lectured European leaders about the state of democracy on the continent and said there is no place for "firewalls".

      That term is frequently used to describe mainstream German parties' refusal to work with the far-right Alternative for Germany, which finished second in the election and is now the biggest opposition party.

      Merz criticised the comments. He told ARD television last month that it is not the place of a US vice-president "to say something like that to us in Germany; I wouldn't do it in America, either." (AP) RUK RUK

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