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    Central Bureau of Narcotics (CBN) and PHARMEXCIL Sign Memorandum of Understanding to Boost Legitimate Pharmaceutical Exports and Strengthen Regulatory...
    RBI's USD-INR Swap Facility Sparks Unprecedented Forex Inflows into India, Banks Raise USD 73 Billion in eleven weeks
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    Chandigarh University Provides In-House Training for Civil Services, Defence, Management, Banking & PSUs
    ICSI inaugurates new Chapter Office in Hyderabad
    Curis Lifesciences Charts a New Growth Path with Uninova, Export Markets and Branded Pharma Expansion
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August 25, 2026
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Voluntary pharmaceutical export compliance framework promotes legitimate trade while safeguarding controlled substances through information sharing and coordinated capacity building.
The Memorandum of Understanding creates a cooperative framework for legitimate pharmaceutical exports and safeguards against diversion of narcotic drugs, psychotropic substances and controlled precursors. A voluntary, non-binding code of conduct will recommend industry practices without imposing obligations beyond applicable law. Cooperation includes identifying export bottlenecks, streamlining procedures for compliant exporters, capacity-building programmes, lawful and confidential information sharing, and nomination of company contact persons to coordinate voluntary compliance measures.
August 25, 2026
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USD-INR forex swap facility accelerates foreign-currency mobilisation through non-resident deposits and institutional borrowing, strengthening India's external buffers.
USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.
August 25, 2026
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Foreign-exchange intervention moderated rupee depreciation as crude prices, importer dollar demand and geopolitical uncertainty sustained currency-market pressure.
Foreign-exchange conditions reflected a marginal weakening of the rupee against the US dollar, influenced by elevated crude-oil prices, importer demand for dollars, weaker Asian equities and geopolitical uncertainty. The currency remained within a narrow trading band, with RBI dollar sales described as moderating sharper depreciation. The RBI's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised substantial foreign-exchange inflows, indicating support from non-resident Indian participants.
August 24, 2026
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Prior government sanction for public servants is contested as essential before money-laundering proceedings may validly proceed for official-duty acts.
Prior prosecution sanction is asserted to be a jurisdictional precondition for money-laundering proceedings against a public servant for acts connected with official duty. A former police officer challenges cognizance and process for want of sanction under the criminal procedure framework and the Maharashtra Police Act, relying on sanctions subsequently granted for co-accused public servants. The allegations concern collection of funds through the officer and their alleged laundering through an educational trust.
August 24, 2026
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Rupee exchange-rate movement gained marginal support from foreign equity inflows despite crude oil, importer demand and geopolitical pressures.
Rupee exchange-rate movement against the US dollar reflected a marginal appreciation, supported by foreign fund inflows into domestic equities. Trading remained within a narrow range amid pressures from higher crude oil prices, continuing importer demand, and geopolitical concerns. Market conditions also included a stronger dollar index, lower Brent crude futures, domestic equity declines, and net foreign institutional investment. Elevated oil prices and geopolitical uncertainty indicated a slight negative bias, while possible US dollar weakness could support the rupee.
August 24, 2026
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Retaliatory trade measures may target electricity, critical minerals and integrated automotive supply chains amid escalating cross-border tariff disputes.
Canada-United States trade relations involve escalating tariffs and contemplated reciprocal restrictions affecting goods, automotive production, electricity exports and critical-mineral supplies. Potential Canadian countermeasures include limiting or increasing the price of Ontario electricity exports and restricting supplies of critical minerals, with oil and potash also identified as possible leverage. The automotive sector faces particular exposure because Ontario production and supply chains are integrated with United States manufacturing. Negotiations also raised concern over limits on Canada's ability to conclude trade agreements with other countries without United States approval.
August 24, 2026
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Mandatory biometric updates for students support continued Aadhaar authentication and access to education, scholarship and benefit-related services.
Mandatory Biometric Update camps have been launched in schools across Tamulpur district, Assam, for eligible students aged 5 to 17 years to update Aadhaar biometrics. Aadhaar biometrics require updating on attaining five years of age and again on attaining fifteen years. Timely updating supports continued Aadhaar authentication and helps avoid difficulties in accessing services where authentication is applicable, including school admissions, entrance-examination registration, scholarships and Direct Benefit Transfer schemes.
August 24, 2026
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Electricity tariff affordability requires immediate review, withdrawal of higher consumer charges, and relief measures for economically weaker households.
Electricity tariff increase in Jammu and Kashmir has been opposed as imposing an unjustified and unaffordable financial burden on domestic consumers amid rising household costs. Immediate review and withdrawal of the increase are sought, together with measures to reduce electricity costs for domestic consumers, particularly economically weaker sections, and ensure affordable, reliable power supply.
August 24, 2026
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Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
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Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
Food safety enforcement measures resulted in suspension of food licences or registrations where establishments failed hygiene, food handling, storage, refrigeration, sanitation and licensing requirements. Deficiencies included unsafe temperature control, unclean refrigeration equipment, improper food storage and thawing, inadequate sanitisation, deteriorated or expired materials, deficient oil-quality checks, artificial colouring, pest infestation, cross-contamination risks and inadequate drainage. One outlet was also found to be operating under the name of an establishment without a valid food licence, resulting in suspension of its registration certificate.
August 24, 2026
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Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.
August 24, 2026
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Sugar supply management measures target speculative stockpiling through imports, stockholding limits and earlier crushing to moderate prices.
Sugar supply is characterised as adequate, and higher prices are attributed principally to speculative buying and advance stockpiling, alongside lower output, seasonal demand and global price pressures rather than an actual shortage. Duty-free raw sugar imports and stockholding limits are intended to augment availability, curb speculative accumulation and stabilise market sentiment. Imports, existing stocks, special crushing and an earlier crushing season are expected to moderate prices and improve festive-period supply. Ethanol diversion is not identified as a cause of the price movement.
August 24, 2026
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Wheat export policy shifts to free trade, lifting restrictions on wheat flour, maida, semolina and wholemeal atta exports.
Wheat export policy has been revised from prohibited to free with immediate effect, lifting the export ban on wheat and related wheat products. The liberalised export treatment extends to wheat flour, maida, semolina and wholemeal atta. The restriction had been imposed to address rising domestic prices, and its removal is expected to improve international wheat availability.
August 24, 2026
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Bogus input tax credit fraud investigation examines fabricated invoices, circular transactions, layered funds and alleged proceeds of crime.
Investigation into alleged bogus input tax credit fraud involved searches under the anti-money-laundering framework. The alleged scheme involved fabricated invoices and e-way bills without actual movement of goods, circular transactions, layered funds, cash withdrawals and bogus or non-existent entities. GST authorities identified fraudulent availment of input tax credit causing wrongful loss to the government exchequer. The investigation focused on tracing alleged proceeds of crime, identifying beneficiaries, and securing documentary and digital evidence.
August 24, 2026
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Sugar crystallization process integration combines evaporator upgrades, continuous boiling, heat recovery and automation for efficient plantation white sugar production.
Sugar manufacturing process integration is proposed through strengthening an existing evaporator station and adding a sugar crystallization section to convert syrup production into plantation white sugar production. The scope covers design, engineering, equipment supply, erection and commissioning of condensate heaters, falling film evaporators, heat-recovery systems, continuous pans, vacuum systems and crystallizers. Continuous massecuite boiling will use chamber-specific control, while evaporator recirculation and online chemical-cleaning provisions support process control and low-grade vapour utilisation.
August 24, 2026
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Competitive examination preparation supports career pathways in civil services, public employment, management, defence, research and international higher education.
Career-development and competitive-examination preparation is offered alongside academic programmes for civil services, government and public-sector employment, banking, engineering higher education, management, defence, teaching, research and overseas education. UPSC, SSC-CGL, Bank PO, GATE, CAT, CDS, UGC-NET, GRE, GMAT and IELTS preparation includes courses, workshops, mentorship, expert guidance and examination-specific resources. Access to examinations, admissions and career opportunities remains subject to applicable eligibility, selection and institutional criteria.
August 24, 2026
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Corporate governance professionals gain expanded training infrastructure as Hyderabad's new Chapter Office supports Company Secretaries and students.
Institute of Company Secretaries of India has inaugurated a Chapter Office in Hyderabad to expand infrastructure for professional education, training, examinations, meetings, capacity-building programmes and stakeholder engagement. The facility is intended to support Company Secretaries and students and enable wider professional and educational activities. Company Secretaries are identified as corporate governance professionals, with expanding regulatory requirements and the formalisation and listing of micro, small and medium enterprises creating potential demand for qualified professionals.
August 24, 2026
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Diversified pharmaceutical growth combines branded portfolio expansion, contract manufacturing, merchant exports, and regulatory registrations for international market development.
Curis Lifesciences Limited plans a diversified pharmaceutical strategy spanning domestic branded products, contract manufacturing and international market development. Its majority acquisition of Uninova Lifesciences is intended to strengthen own-brand marketing, distribution and portfolio expansion, including injectable products through third-party manufacturing. International initiatives include merchant exports in Kenya and a Nigerian joint venture pursuing own-brand regulatory registrations alongside contract-manufacturing and export opportunities. Commercial development in Nigeria remains contingent on relevant licences and purchase orders, while projections are subject to regulatory, market and other business factors.
August 24, 2026
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Insolvency framework reform prioritises efficient resolution, value maximisation, stakeholder coordination, institutional strengthening and technology-enabled asset recovery.
Insolvency and Bankruptcy Code, 2016, entered its tenth year amid deliberations on legislative amendments, resolution timelines, stakeholder interests and value maximisation. Key areas included resolution plans and tax implications, liquidation processes, recent judicial developments, stakeholder coordination, and the roles of insolvency professionals, regulators, banking institutions and adjudicatory processes. Technological innovation, including artificial intelligence for asset tracing and recovery, alongside regulatory strengthening, capacity building and stakeholder collaboration, was emphasised for the future development of the insolvency ecosystem.

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Customs & Trade

Denmark launches its EU presidency facing war in Ukraine, Trump tariff chaos

July 3, 2025

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Aarhus(Denmark), Jul 3 (AP) Denmark launched its presidency of the European Union on Thursday with a call for Europe to unite to take on war in Ukraine and chaos caused by US President Donald Trump's global tariff hike which are likely to mark the Nordic country's six-month term at the helm of the world's biggest trading bloc.

“We have war on European soil. We face trade wars, and new tariffs, and we have our closest ally, in the United States, turning increasingly inward,” said Danish European Affairs Minister Marie Bjerre. “Europe can no longer be in the shadow of the United States. We need now to stand on our own two feet.” Prime Minister Mette Fredericksen and European Commission President Ursula von der Leyen were in the western city of Aarhus for a day of celebratory events as Denmark started its eighth EU presidency since joining in 1973.

Presidencies rotate between the 27 EU member countries every six months. The nation in charge sets policy priorities and organizes the bloc's working agenda. It's supposed to act as an “honest broker,” setting aside national interests to foster consensus.

Denmark is entering its term with the motto “A Strong Europe in a Changing World.” Its aim is to help ensure the EU can take responsibility for its own security, boost economic competitiveness and tackle climate change.

The ceremony was held as large parts of Europe sweltered in high temperatures.

Russia's war on Ukraine, now in its fourth year, is seen as an existential challenge in Europe and will weigh heavily on most policy debate. Economic turmoil also lies ahead. Trump's 90-day tariff pause ends on July 9 with no EU-US trade deal in place as yet.

Getting defence on track and gunning for 5 per cent NATO has warned that Russia could be ready to attack another European country in 3-5 years. To prepare, the military alliance — most of whose members are EU countries — has agreed that national military and defence-related investment should rise to 5 per cent of GDP.

Denmark's priority will be to set Europe on track to properly defend itself by 2030. That will require laying the groundwork for countries to buy the military equipment needed to execute NATO's defence plans with Trump's security priorities lying outside Europe.

That will mean wrapping up negotiations on proposals that will help countries purchase and make military equipment together.

Enlargement and another defence front Helping Ukraine, but also Moldova, to join the EU soon is another security priority. Moldova has been shaken by Russian meddling in the form of energy coercion, election interference and disinformation campaigns.

Denmark says it aims to keep the two moving toward membership together, but Hungary is blocking Ukraine's path. Prime Minister Viktor Orbán insists that Ukraine should remain a buffer zone between Russia and NATO countries.

With fresh elections in Moldova in September, pressure is mounting for the EU to “decouple” their accession tracks. Bjerre said “all political and practical means” will be used first to persuade Hungary — a small EU country and the only one standing in Ukraine's way — to lift its veto.

She said it's important to send clear signals to Balkans countries. Most have waited many years to join.

Honing a competitive edge As Trump wages tariff war, trade has changed drastically. The EU has sought new trade agreements with other countries, such as India, while other trade pacts are being revamped. Denmark says it's important to accelerate that process.

The government in Copenhagen says it's also seeking to cut more bureaucratic red tape in order to speed up innovation.

A major challenge looms in the form of the EU's next long-term budget. Von der Leyen plans to unveil the commission's blueprint for the seven-year spending package, which should enter force in 2028, on July 16.

With defense spending increases weighing heavily on national purses, member countries are unlikely to want to stump up more funds for European priorities. Denmark's aim is to get the debate — which could run for two years — off on the right track.

Managing climate change Despite some backsliding, the EU still holds to its goal of achieving climate neutrality by 2050, by cutting greenhouse gases and compensating for any remaining emissions. Denmark will lead work on setting a 2040 target to guide climate action and investment to keep the bloc on track.

Part of that will be the transition away from fossil fuels to green energy forms. Russia's war on Ukraine has highlighted the dangers of energy dependence on any one supplier.

Sanctions and political pressure have not stopped some EU countries of getting their oil and gas from Russia, although the level of dependency has dropped markedly since 2022. Denmark says the continued phase out remains a priority.

Copenhagen also says it should be easier for farmers to respect EU rules. It wants the bloc's agricultural policy to be simple and business friendly. One goal is to finalize negotiations on a rule simplification package.

Migration policy, outsourcing continues In 2021, Frederiksen spoke of a vision of “zero asylum-seekers,” and her government will continue down the EU track of seeking “innovative solutions” to better manage migrants.

Unable to agree how best to cope, EU countries have mostly focused on deporting people. They've tried to establish “return hubs” in countries outside the bloc where rejected asylum-seekers could be sent. That approach will continue. Denmark says it's important to persuade people not to set out for Europe in the first place.

Work will also continue on preparing the vast asylum and migration policy pact to come into force next year. The pact was seen as the answer to Europe's migration woes, but countries still differ on how best to tackle the challenge.

Under international law, people have a right to asylum if they fear for their lives, safety or persecution. (AP) RD RD

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