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    DRI uncovers another clandestine drug manufacturing unit in Maharashtra
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    DGFT Removes Physical Duty Payment Challans for Export Obligation Discharge Certificate Applications under Advance Authorisation and Export Promotion ...
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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
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    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
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    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
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    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
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    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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      Russia's strong ties with both Israel, Iran could help it emerge as power broker

      June 15, 2025

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      Moscow, Jun 15 (AP) Russia has maintained a delicate balancing act in the Middle East for decades, trying to navigate its warm relations with Israel even as it has developed strong economic and military ties with Iran.

      Israel's military strikes this weekend on Iranian nuclear and military facilities, killing top generals and scientists, and Tehran's response with drones and missiles, put Moscow in an awkward position, requiring fine diplomatic skills to preserve ties with both parties. But it also could open opportunities for Russia to possibly become a power broker to help end the confrontation.

      Some observers in Moscow also argue that the focus on the confrontation between Israel and Iran could distract global attention from the war in Ukraine and play into Russia's hands by potentially weakening Western support for Kyiv.

      A Russian condemnation but little else Russian President Vladimir Putin spoke to both Israel Prime Minister Benjamin Netanyahu and Iranian President Masoud Pezeshkian, offering to help de-escalate the conflict.

      In his call with Pezeshkian, Putin condemned the Israeli strikes and offered his condolences. He noted that Russia has put forward specific initiatives aimed at resolving the situation around the Iranian nuclear programme.

      Russia's Foreign Ministry issued a strongly worded statement condemning the Israeli strikes as “categorically unacceptable” and warning that "all the consequences of this provocation will fall on the Israeli leadership.” It urged both parties “to exercise restraint in order to prevent further escalation of tensions and keep the region from sliding into a full-scale war.” But despite the harshly worded condemnation of Israel's actions, Moscow hasn't issued any signal that it could offer anything beyond political support to Tehran despite a partnership treaty between the countries.

      In his call with Netanyahu, Putin “emphasized the importance of returning to the negotiation process and resolving all issues related to the Iranian nuclear programme exclusively through political and diplomatic means," and he offered his mediation “in order to prevent further escalation of tensions,” the Kremlin said in a readout.

      “It was agreed that the Russian side will continue close contacts with the leadership of both Iran and Israel, aimed at resolving the current situation, which is fraught with the most disastrous consequences for the entire region,” it added.

      Putin and US President Donald Trump discussed the escalating situation in the Middle East by phone Saturday. Putin's foreign affairs adviser Yuri Ushakov said the Kremlin leader emphasized Russia's readiness to carry out mediation efforts, and noted it had proposed steps “aimed at finding mutually acceptable agreements” during US-Iran negotiations on the Iranian nuclear programme.

      Moscow-Tehran ties: From tense to strategic partners Relations between Moscow and Tehran often were tense in the Cold War, when Shah Mohammad Reza Pahlavi was a US ally. After the 1979 Islamic Revolution, leader Ayatollah Ruhollah Khomeini branded the U.S. as the “Great Satan,” but also assailed the Soviet Union as the “Lesser Satan.” Russia-Iran ties warmed quickly after the USSR's demise in 1991, when Moscow became an important trade partner and a top supplier of weapons and technology to Iran as it faced international sanctions. Russia built Iran's first nuclear power plant in the port of Bushehr that became operational in 2013.

      Russia was part of the 2015 deal between Iran and six nuclear powers, offering sanctions relief for Tehran in exchange for curbing its atomic programme and opening it to broader international scrutiny. It offered political support when the US unilaterally withdrew from the agreement during Trump's first term.

      After a civil war in Syria erupted in 2011, Russia and Iran pooled efforts to shore up Bashar Assad's government. They helped Assad reclaim most of the country but failed to prevent a swift collapse of his rule in December 2024 after a lightning opposition offensive.

      When Moscow launched its full-scale invasion of Ukraine in 2022, the West alleged that Tehran signed a deal with the Kremlin to deliver Shahed drones and later launch their production in Russia.

      In January, Putin and Pezeshkian signed the “comprehensive strategic partnership” treaty that envisions close political, economic and military ties.

      Russia-Israel ties stay strong despite tensions During the Cold War, Moscow armed and trained Israel's Arab foes. Diplomatic relations with Israel ruptured in 1967 but were restored in 1991. Russian-Israeli ties quickly warmed after the collapse of the Soviet Union and have remained strong.

      Despite Moscow's close ties with Tehran, Putin has repeatedly demonstrated his readiness to take Israeli interests into account.

      He has maintained warm, personal ties with Netanyahu, who frequently traveled to Russia before the war in Ukraine.

      Russia and Israel have built a close political, economic and cultural relationship that helped them tackle delicate and divisive issues, including developments in Syria. It survived a tough test in 2018, when a Russian military reconnaissance aircraft was shot down by Syrian forces responding to an Israeli airstrike, killing all 15 people aboard.

      And even though Russia supplied Iran with sophisticated S-300 air defense missile systems, which Israel said were taken out during its strikes last year on Iran, Moscow has dragged its feet on deliveries of other weapons in an apparent response to Israeli worries. In particular, Russia has delayed providing advanced Su-35 fighter jets that Iran wants so it can upgrade its aging fleet.

      Israel, in its turn, appeared to take Moscow's interests into account by showing little enthusiasm for providing Ukraine with weapons in the 3-year-old war.

      The Kremlin's friendly ties with Israel has fueled discontent in Tehran, where some members of the political and military leadership reportedly were suspicious of Moscow's intentions.

      Possible Russian gains from Middle East tensions Maintaining good ties with both Israel and Iran could pay off now, placing Moscow in a position of a power broker trusted by both parties and a potential participant in any future deal on Tehran's nuclear programme.

      Long before Friday's strikes, Putin discussed the mounting Middle East tensions in his calls with Trump, conversations that offered the Russian leader a chance to pivot away from the war in Ukraine and engage more broadly with Washington on global issues.

      Deputy Foreign Minister Sergei Ryabkov suggested in recent days that Russia could take highly enriched uranium from Iran and convert it into civilian reactor fuel as part of a potential agreement between the United States and Iran.

      Prospects for negotiating a deal under which Iran would accept tighter restrictions on its nuclear programme appear dim after the Israeli strikes. But if talks resume, Russia's offer could emerge as a pivotal component of an agreement.

      Many observers believe the Israeli attacks will likely fuel global oil prices and help enrich Moscow at a time when its economy is struggling.

      “It will destroy the hopes of Ukraine and its allies in Western Europe for a drop in Russian oil revenues that are essential for filling the military budget,” Moscow-based military analyst Ruslan Pukhov wrote in a commentary.

      Some commentators in Moscow also argue the confrontation in the Middle East will likely distract Western attention and resources from the war in Ukraine and make it easier for Russia to pursue its battlefield goals.

      “The world's attention to Ukraine will weaken,” said pro-Kremlin analyst Sergei Markov. “A war between Israel and Iran will help the Russian army's success in Ukraine.” (AP) NSA NSA

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