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    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
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    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
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    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
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    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
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    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
    Currently nine trade disputes pending against India under WTO rules: Govt
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    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
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    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
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    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
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    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
    Show AI Summary
    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.

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      India, Cyprus 'unequivocally' condemn terrorism; agree to deepen defence, security cooperation

      June 16, 2025

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      Nicosia, Jun 16 (PTI) Cyprus on Monday extended "unwavering support" to India in its fight against cross-border terrorism as the two countries "unequivocally" condemned terrorism and violent extremism in all its forms and manifestations, including international and cross-border terrorism.

      A joint declaration issued after wide-ranging talks between Prime Minister Narendra Modi and Cyprus President Nikos Christodoulides said the two sides "reaffirmed their shared commitment to countering hybrid threats that undermine peace and stability".

      "Cyprus expressed solidarity and unwavering support to India in its fight against cross-border terrorism. The two leaders strongly condemned the gruesome killing of civilians in the recent heinous terrorist attacks in Pahalgam, Jammu & Kashmir, India," the declaration said.

      "They reiterated their zero-tolerance approach to terrorism, rejecting any justification for such acts, under any circumstances. They emphasized that those responsible for the attacks should be held accountable," it added.

      Terrorists killed 26 civilians in a terror attack in Jammu and Kashmir's Pahalgam on April 22.

      "Cyprus and India unequivocally condemned terrorism and violent extremism in all its forms and manifestations, including international and cross-border terrorism, and reaffirmed their shared commitment to countering hybrid threats that undermine peace and stability," the joint declaration said.

      It said the two leaders urged all States to respect the sovereignty of other nations and condemned cross-border terrorism in all its forms.

      "They called for the disruption of terrorism financing networks, elimination of safe havens, dismantling of terrorist infrastructure, and bringing perpetrators of terrorism to justice swiftly," it added.

      Emphasising the need for a comprehensive, coordinated, and sustained approach to combatting terrorism across borders, the two leaders underscored the importance of working collaboratively, bilaterally and with the multilateral system, the declaration said.

      Modi reached Cyprus on Sunday on the first leg of his three-nation tour.

      This is his first foreign visit since India carried out Operation Sindoor under which the Indian armed forces carried out strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir on May 7 in retaliation to the Pahalgam terror attack.

      "Both leaders reaffirmed their commitment to strengthening multilateral efforts to combat terrorism and called for the expeditious finalization and adoption of the Comprehensive Convention on International Terrorism within the UN framework," the declaration said.

      It said that they urged for concerted actions against all UN- and EU-designated terrorists and terrorist entities, associated proxy groups, facilitators, and sponsors, including terrorists under the 1267 UNSC Sanctions Committee.

      They reiterated their strong commitment to continue taking active measures to disrupt terrorist financing channels including through the UN and Financial Action Task Force (FATF), the statement said.

      The two leaders stressed the importance of enhancing strategic autonomy, defence readiness, and defence capabilities in the wake of emerging challenges within the international security environment.

      "They agreed to deepen their defence and security cooperation, including through collaboration between their respective defence industries, with a special focus on cybersecurity and emerging technologies," it said.

      Cyprus and India "expressed their strong commitment to the resumption of UN-facilitated efforts to achieve a comprehensive and lasting settlement of the Cyprus Question on the basis of a bizonal, bicommunal federation with political equality, in accordance with the agreed UN framework and the relevant UN Security Council Resolutions," the joint declaration said.

      "India reiterated its unwavering and consistent support for the independence, sovereignty, territorial integrity, and unity of the Republic of Cyprus. In this regard, both sides emphasized the need to avoid unilateral actions as essential for creating a conducive environment for the resumption of meaningful negotiations," it added.

      While recognising Cyprus’ role as a gateway into Europe and, in this context, its prospect to serve as a regional hub for transhipment, storage, distribution, and logistics, they welcomed the prospect of Indian shipping companies establishing a presence in Cyprus.

      The two leaders also discussed expanding cooperation to include the maritime domain and committed to strengthening collaboration in emergency preparedness and coordinated crisis response, it added.

      In light of ongoing global crises, both sides committed to strengthening cooperation in emergency preparedness and coordinated crisis response.

      Drawing on past successful efforts, the leaders agreed to institutionalise coordination in evacuation and Search and Rescue (SAR) operations.

      Modi's visit to Cyprus is the first by an Indian prime minister in over two decades. His visit marks a historic milestone and reaffirms the deep and enduring friendship between the two nations, it added.

      Noting that Cyprus and India share a strategic vision of serving as bridges between regions, both leaders underscored the significance of the India–Middle East–Europe Economic Corridor (IMEEC) as a transformative, multi-nodal initiative that fosters peace, economic integration, and sustainable development.

      Looking ahead to Cyprus’ Presidency of the Council of the European Union in early 2026, both leaders reaffirmed their commitment to strengthening EU–India relations.

      Cyprus pledged to work towards the advancement of the EU-India strategic partnership during the Presidency, the declaration said.

      Both sides expressed readiness to support the conclusion of the EU–India Free Trade Agreement by the end of this year recognising its significant economic and strategic potential, it added.

      Recognising the growing strategic complementarity between Cyprus and India, the leaders committed to expanding economic ties through increased trade, investment, and collaboration in science, innovation, and research, it said.

      Both leaders agreed to promote collaboration in research, innovation, and technology, fostering stronger ties between startups, academic institutions, and industry, and supporting innovation exchanges in key sectors like artificial intelligence, digital infrastructure, and research, with a view to concluding a related MoU.

      The two leaders recognised people-to-people ties as a strategic asset and multiplier for deepening economic and cultural ties. The two sides will work to finalise a Mobility Pilot Program Arrangement by the end of 2025, it said.

      They agreed to explore opportunities for enhancing tourism and the establishment of direct air connectivity between Cyprus and India, as well as enhanced air routes via shared partners, to improve ease of travel and boost bilateral exchanges, the declaration added. PTI GRS ZH GRS GRS

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