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September 12, 2026
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Multilateral trade reform challenges unilateral tariffs, carbon border measures, and sanctions while advancing equitable market access.
BRICS opposes unilateral tariff and non-tariff measures that distort trade, disrupt supply chains and widen economic disparities. It also rejects unilateral, punitive, discriminatory or protectionist carbon border adjustment mechanisms that can restrict developing countries' market access and undermine climate-adaptation and resilience efforts. BRICS supports an open, equitable and rules-based multilateral trading system, including restoration of an accessible two-tier binding dispute-settlement mechanism. Its wider agenda links trade reform with resilient supply chains, sovereign control over critical minerals, higher-value manufacturing participation, and improved finance for export-oriented small businesses.
September 12, 2026
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Consensus-based multilateral cooperation urges West Asia diplomacy, civilian protection, counterterrorism coordination, and WTO-consistent trade without unilateral restrictions.
The consensus New Delhi Declaration calls for maximum restraint in West Asia, civilian protection, and dialogue and diplomacy for lasting regional peace. It urges cooperation to maintain global trade, supply chains and energy flows under applicable international law. It also commits members to zero tolerance for terrorism, including cross-border terrorism, terrorism financing and safe havens, while rejecting double standards. Unilateral tariff and non-tariff measures, indiscriminate tariff increases, and environmental protectionism are criticised where inconsistent with WTO rules or trade-distorting.
September 12, 2026
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Multilateral trade governance faces calls for restored binding dispute settlement, opposition to unilateral tariffs and sanctions, and financial institution reform.
BRICS supports a rules-based multilateral trading system and seeks restoration of an accessible, effective, fully functioning two-tier binding dispute-settlement mechanism, including prompt appointment of Appellate Body members. It opposes unilateral tariff and non-tariff measures, trade restrictions, and economic or secondary sanctions not authorised by the UN Security Council. It also seeks reform of International Monetary Fund and World Bank governance through greater representation, quota and shareholding realignment, and increased voting power for emerging markets and developing economies.
September 12, 2026
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Global financial governance reform seeks greater emerging-economy representation, alongside expanded development finance, liquidity support and payment cooperation.
BRICS finance ministers and central bank governors seek reform of global financial governance to increase emerging-market and developing-economy representation in the International Monetary Fund and World Bank. The agenda includes quota realignment, transparent leadership selection and correction of developing-country underrepresentation. Cooperation also supports expanded New Development Bank financing, local-currency lending, a multilateral guarantees mechanism, and a more flexible Contingent Reserve Arrangement for liquidity support during balance-of-payments pressures.
September 12, 2026
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Cross-border supply-chain dependence shapes imports of industrial inputs, while foreign investment screening remains stricter for land-border linked entities.
India-China trade reflects a widening deficit driven by imports of industrial raw materials, intermediate goods and capital goods used in manufacturing. Dependence is concentrated in electronics, machinery, computers, organic chemicals, electronic components, batteries, solar modules, active pharmaceutical ingredients and specialty chemicals. Foreign direct investment norms are relaxed for certain companies outside land-border countries where beneficial ownership from such countries remains below the specified threshold and non-controlling. Entities registered in China, Hong Kong and other land-border countries remain excluded from that relaxation.
September 12, 2026
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Temporary debit holds for suspected money-mule and cyber-fraud accounts are proposed through a standardised banking procedure.
Draft Reserve Bank of India (Know Your Customer) Amendment Directions, 2026 propose a Standard Operating Procedure for banks to place temporary debit holds on amounts or accounts linked to money-mule activity and cyber-enabled financial fraud. The consolidated draft applies to commercial banks, including small finance banks, payments banks, regional rural banks and local area banks, and to urban cooperative banks. Feedback may be submitted through the Reserve Bank's Connect 2 Regulate portal or by email before final directions are issued separately.
September 11, 2026
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Municipal salary arrears and GST grant demands prompted temporary strike suspension after payment and committee assurances.
Municipal employees temporarily suspended their strike after the administration committed to pay two months' pending salaries by September 15 and arrange clearance of remaining salary arrears within 30 days. The employees had sought payment of salary arrears, increased GST grants to the civic body, and release of the outstanding difference in GST grants. A committee is to pursue the pending GST grant proposals at the government level.
September 11, 2026
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Aadhaar-linked OTP information enabled tracing of a missing adult while investigation continued to locate the minor companion.
Aadhaar-linked OTP information assisted investigators in tracing an adult student missing for more than seven months. A recent Aadhaar-based transaction recorded her husband's mobile number for OTP receipt, allowing police to trace the number and locate her. The CID had assumed investigation pursuant to a High Court order on a habeas corpus petition. The student was produced before the High Court, while tracing efforts continued for her minor companion, who remained missing.
September 11, 2026
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Inflation risks from oil shocks support proposed policy-rate tightening to prevent broader consumer-price pressures before they become entrenched.
Monetary policy tightening is advocated to counter persistent external shocks, elevated crude oil prices, and expanding inflationary pressures. The proposed response is based on the risk that sustained high oil prices may raise consumer-price inflation and entrench inflation before a complete cost pass-through occurs. Banking-system liquidity has increased through foreign currency deposit inflows, but anticipated strong credit demand is expected to absorb the surplus and normalise liquidity by the end of the financial year.
September 11, 2026
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Money-laundering investigation prompts competing demands for a police case and allegations of political misuse by investigators.
Enforcement Directorate action in the CMRL-linked matter prompted a request for registration of an FIR based on material recovered during investigation and searches under the Prevention of Money Laundering Act. BJP representatives asserted that the material warranted investigation under the Prevention of Corruption Act and alleged delay in acting on it. CPI(M) representatives disputed the investigation's neutrality, alleging coercive collection of statements and political misuse of investigative processes. The reported allegations and counter-allegations concern initiation and conduct of a criminal investigation.
September 11, 2026
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India-UK free trade agreement drives northern England delegation to develop trade links, investment pipelines, and long-term India partnerships.
India-UK Comprehensive Economic and Trade Agreement implementation is being leveraged through a strategic partnership supporting the Great North Mayor Mission to India. The mission is intended to convert free-trade opportunities into investment, commercial engagement, employment and sustained business relationships. Northern England's regions will combine collective engagement with region-specific market strategies, relationship-building and operational programmes focused on their respective economic strengths.
September 11, 2026
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Rupee depreciation reflects risk aversion and elevated crude prices, while central-bank support may cushion lower-level pressure.
Rupee depreciation against the US dollar continued amid global risk aversion, elevated crude oil prices, higher bond yields and weak domestic sentiment. Lower crude prices, recovery in domestic equities and suspected Reserve Bank of India intervention supported a partial intraday recovery. Foreign-exchange conditions were also influenced by dollar strength, inflation concerns, anticipated US data, domestic equity declines and net foreign institutional equity sales. India's foreign-exchange reserves rose sharply to a record level despite continuing currency-market volatility.
September 11, 2026
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Trade barrier reduction within BRICS is linked to startup expansion, business partnerships, digital cooperation, and secure maritime commerce.
BRICS economic cooperation is advanced through proposed removal of major trade barriers, expanded cross-border investment and business ties, and measurable annual targets for startup expansion and commercial partnerships. Secure sea lanes, open supply routes, freedom of navigation and seafarer safety are treated as necessary for global trade and supply-chain continuity. Infrastructure, strategic technologies, startup innovation and digital public infrastructure are identified as platforms for deeper cooperation, supported by incubator, MSME, startup, agriculture, health care, skills and smart-grid networks.
September 11, 2026
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Five-day banking week demand prompts nationwide union strike, disrupting public-sector banking operations and escalating action over unresolved pension issues.
Nationwide bank employee strike action disrupted cash deposits, withdrawals, cheque clearances and administrative work, principally at public sector bank branches. The principal demand is implementation of a five-day banking week by declaring all Saturdays as holidays. This demand is linked to the 12th Bipartite Settlement but remains pending government notification. Other unresolved demands concern pension updation, a uniform dearness allowance formula for pensioners, and an option for National Pension System employees to shift to the Old Pension Scheme.
September 11, 2026
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Foreign exchange compliance investigation examines alleged overseas shareholdings, unauthorised cash investments, and contractor-bribery evidence linked to public works tenders.
Foreign Exchange Management Act investigation into alleged undisclosed overseas investments led to searches of premises connected with a Karnataka public works minister, family members, associates and a private company. The investigation alleges foreign shareholdings, cash investments in a Congo-based entity through unauthorised channels, and bribe payments connected with a public works tender and foreign asset acquisition. Cash, foreign currency, digital devices and records relating to foreign entities and alleged contractor-bribery collections were seized.
September 11, 2026
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Asset restoration under anti-money-laundering law does not itself terminate criminal prosecution or excuse evasion of legal process.
Money-laundering prosecution is not rendered infructuous merely because claimant banks recover debts from attached assets restored to them. Restoration under the Prevention of Money Laundering Act enables legitimate claimants to recover losses but does not cancel or require discontinuance of criminal proceedings concerning alleged laundering and misappropriation of bank-loan funds. The Enforcement Directorate also maintains that failure to respond to summons and submit to criminal-court jurisdiction remains material to the proceedings.
September 11, 2026
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Central bank digital currency development should support tokenised settlement while cybersecurity safeguards address AI-driven systemic risks.
Central bank digital currency development was urged to be advanced through wholesale and retail pilots, with stronger digital rupee capabilities supporting tokenisation. A tokenised corporate bond pilot showed that the digital rupee can enable simultaneous transfer of asset and payment legs, permitting settlement on the payment date. Tokenisation may reduce intermediaries and accelerate transfers, but requires systemic-risk and cybersecurity safeguards because errors, fraud and market shocks may spread faster. AI can improve fraud detection while also enabling sophisticated automated cyberattacks.
September 11, 2026
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Five-day banking workweek demand drives nationwide employee protest over delayed implementation and performance-linked incentive concerns.
Bank employees and officers supported a nationwide strike seeking implementation of a five-day banking system following delay in acting on an agreement between banking unions and the Indian Banks' Association. The proposed arrangement contemplated Saturday holidays with increased daily working hours to preserve customer-facing banking hours. Union representatives also objected to a unilateral and discriminatory Performance Linked Incentive scheme and sought bilateral discussions to resolve pending workweek, incentive, and other banking-sector issues.
September 11, 2026
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UPI-native credit infrastructure enables pre-approved credit lines, issuance management, interoperable payments and financing across digital commerce.
Credit Line on UPI (CLOU) enables banks to offer pre-approved, risk-graded credit facilities directly through a customer's UPI ID for merchant transactions. The platform consolidates customer eligibility assessment, credit-line creation, digital consent and activation, transaction processing, risk controls, billing, payments and collections. PhiAMS supports the credit lifecycle from origination and product configuration to limit management, authorisation, billing, collections, risk management and customer servicing.
September 11, 2026
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BRICS trade cooperation highlights export growth and addresses non-tariff barriers, value chains, agriculture, services and digital economy.
BRICS trade cooperation is marked by reported growth in member-country exports and a near doubling of BRICS nations' share of global exports. Business-forum discussions address non-tariff barriers affecting global value chains, agriculture and agri-technologies, services trade, women-led enterprises and the digital economy.

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Digital India bridged divide, democratised opportunity: PM Modi

July 1, 2025

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New Delhi, Jul 1 (PTI) Prime Minister Narendra Modi asserted on Tuesday that the Digital India initiative launched a decade ago bridged the digital divide between haves and have-nots, and democratised opportunity, stressing that it has become a people's movement.

In a post on LinkedIn, he said while decades were spent doubting the ability of Indians to use technology, his government changed this approach and trusted the ability of citizens to use technology.

Modi asserted that his government used technology to eliminate the gap between the haves and the have-nots, he added.

"When the intent is right, innovation empowers the less empowered. When the approach is inclusive, technology brings change in the lives of those on the margins.This belief laid the foundation for Digital India: a mission to democratise access, build inclusive digital infrastructure, and opportunities for all," he said.

In 2014, Modi said, India had around 25 crore internet connections. Today, that number has grown to over 97 crore, with over 42 lakh km of optical fibre cable equivalent to 11 times the distance between the earth and the moon now connecting even the most remote villages, he added.

He said India's 5G rollout is among the fastest in the world, with 4.81 lakh base stations installed in just two years.

High-speed internet now reaches urban hubs and forward military posts alike, including Galwan, Siachen, and Ladakh, he noted.

He recalled that internet penetration was limited, digital literacy was low, and online access to government services was scarce in 2014, the year his government came to power.

He said many doubted whether a country as vast and diverse as India could truly go digital.

"Today, that question has been answered not just in data and dashboards, but in the lives of 140 crore Indians. From how we govern, to how we learn, transact, and build, Digital India is everywhere," he said.

Ten years ago, India embarked on a bold journey into uncharted territory with great conviction, he said.

A decade later, the journey has touched countless lives and ushered in a new era of empowerment, he said, adding India has made many strides in digital payments, powered by the collective resolve of 140 crore Indians.

India Stack, which is the digital backbone, has enabled platforms like UPI, which now handles 100 plus billion transactions a year, he said, adding that around half of all real time digital transactions happen in India.

Through Direct Benefit Transfer (DBT), over Rs 44 lakh crore has been transferred directly to citizens, cutting out middlemen and saving Rs 3.48 lakh crore in leakages, he said, adding that schemes like SVAMITVA have issued over 2.4 crore property cards and mapped 6.47 lakh villages, ending years of uncertainty.

The prime minister said India's digital economy is empowering MSMEs and small entrepreneurs like never before.

He asserted that ONDC (Open Network for Digital Commerce) is a revolutionary platform which opens a new window of opportunities by providing a seamless connection with huge market of buyers and sellers.

He added that the GeM (Government E-Marketplace) enables the common man to sell goods and services to all arms of the government. This not only empowers the common man with a huge market but also saves money for the government.

"Imagine this: You apply for a Mudra loan online. Your creditworthiness is assessed through an account aggregator framework. You get your loan and start your venture. You register on GeM, supply to schools and hospitals, and then scale up via ONDC," he said.

ONDC recently crossed 200 million transactions, with the last 100 million in just six months, he notes.

He said from Banarasi weavers to bamboo artisans in Nagaland, sellers are now reaching customers nationwide without middlemen or digital monopolies.

The GeM has also crossed Rs 1 lakh crore Gross Merchandise Value GMV in 50 days, with 22 lakh sellers, including over 1.8 lakh women-led MSMEs, who have fulfilled orders worth Rs 46,000 crore, he said.

Modi said India's digital public infrastructure is its global offering.

From Aadhaar, CoWIN, DigiLocker, and FASTag to PM-WANI and One Nation One Subscription is now studied and adopted globally, he said.

Through its G20 Presidency, India launched the Global DPI Repository and a USD 25 million social impact fund, helping nations across Africa and South Asia adopt inclusive digital ecosystems, he said.

Modi said India now ranks among the top three start up ecosystems in the world, with over 1.8 lakh start ups. But this is more than a start up movement, it is a tech renaissance, he added.

India is doing extremely well when it comes to AI skill penetration and AI talent concentration among our youth, he said in the post.

Through the USD 1.2 billion India AI Mission, India has enabled access to 34,000 Graphics Processing Units at globally unmatched prices at less than Rs 1/GPU hour, making India not just the most affordable internet economy, but also the most affordable compute destination, he said.

Modi said, "India has championed humanity-first AI. The New Delhi Declaration on AI promotes innovation with responsibility. We are establishing AI Centres of Excellence across the country." The prime minister said the next decade will be even more transformative, as India is moving from digital governance to global digital leadership, from India-first to India-for-the-world.

He said digital India has not remained a mere government programme but has become a people's movement.

It is central to building an Aatmanirbhar Bharat, and to making India a trusted innovation partner to the world, he said.

Modi said, "To all innovators, entrepreneurs, and dreamers: the world is looking at India for the next digital breakthrough." "Let us build what empowers. Let us solve what truly matters. Let us lead with technology that unites, includes, and uplifts." PTI KR DV DV

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