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    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
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    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
    Show AI Summary
    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
    Show AI Summary
    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
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    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.

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      Trump says he wants to deport 'the worst of the worst,' government data tells another story

      July 12, 2025

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      Washington, Jul 12 (AP) President Donald Trump has pledged to deport “the worst of the worst.” He frequently speaks at public appearances about the countless “dangerous criminals” — among them murderers, rapists and child predators — from around the world he says entered the US illegally under the Biden administration. He promises to expel millions of migrants in the largest deportation programme in American history to protect law-abiding citizens from the violent threats he says they pose.

      But government data around ongoing detentions tells a different story.

      There has been an increase of arrests by US Immigration and Customs Enforcement since Trump began his second term, with reports of raids across the country. Yet the majority of people currently detained by ICE have no criminal convictions. Of those who do, relatively few have been convicted of high-level crimes — a stark contrast to the chilling nightmare Trump describes to support his border security agenda.

      “There's a deep disconnect between the rhetoric and the reality,” said Ahilan Arulanantham, co-faculty director of the UCLA Law School's Centre for Immigration Law and Policy. “This administration, and also in the prior Trump administration, they consistently claim to be going after the worst of the worst and just talk about immigration enforcement as though it is all about going after violent, dangerous people with extensive criminal histories. And yet overwhelmingly, it's people they're targeting for arrest who have no criminal history of any kind.” A look at the numbers The latest ICE statistics show that as of June 29, there were 57,861 people detained by ICE, 41,495 — 71.7 per cent — of whom had no criminal convictions. That includes 14,318 people with pending criminal charges and 27,177 who are subject to immigration enforcement, but have no known criminal convictions or pending criminal charges.

      Each detainee is assigned a threat level by ICE on a scale of 1 to 3, with one being the highest. Those without a criminal record are classified as having “no ICE threat level.” As of June 23, the latest data available, 84 per cent of people detained at 201 facilities nationwide were not given a threat level. Another 7 per cent had been graded as a level 1 threat, 4 per cent were level 2 and 5 per cent were level 3.

      “President Trump has justified this immigration agenda in part by making false claims that migrants are driving violent crime in the United States, and that's just simply not true,” said Lauren-Brooke Eisen, senior director of the justice programme at the Brennan Centre for Justice. “There's no research and evidence that supports his claims.” Tricia McLaughlin, an assistant secretary at the Department of Homeland Security, called the assessment that ICE isn't targeting immigrants with a criminal record “false" and said that DHS Secretary Kristi Noem has directed ICE “to target the worst of the worst—including gang members, murderers, and rapists.” She counted detainees with convictions, as well as those with pending charges, as “criminal illegal aliens.” Nonpublic data obtained by the Cato Institute shows that as of June 14, 65 per cent of the more than 204,000 people processed into the system by ICE since the start of fiscal year 2025, which began Oct 1, 2024, had no criminal convictions. Of those with convictions, only 6.9 per cent had committed a violent crime, while 53 per cent had committed nonviolent crimes that fell into three main categories — immigration, traffic, or vice crimes.

      Total ICE arrests shot up at the end of May after White House Deputy Chief of Staff Stephen Miller gave the agency a quota of 3,000 arrests a day, up from 650 a day in the first five months of Trump's second term. ICE arrested nearly 30 per cent more people in May than in April, according to the Transactional Records Clearinghouse, or TRAC. That number rose again in June, by another 28 per cent.

      The Cato Institute found that between Feb 8 and May 17, the daily average of “noncriminals” processed into the system ranged from 421 to 454. In the following two weeks at the end of May, that number rose to 678 and then rose to 927 in the period from June 1 through 14.

      “What you're seeing is this huge increase in funding to detain people, remove people, enforce immigration laws," Eisen said. "And what we're seeing is that a lot of these people back to sort of the original question you asked, these are not people who are dangerous.” Administration says focus is on dangerous criminals Abigail Jackson, a White House spokesperson, said the administration is intensely focused on rooting out unvetted criminals who are in the country illegally.

      “Just this week, the Administration conducted a successful operation rescuing children from labour exploitation at a marijuana facility in California, and continued arresting the worst of the worst – including murderers, pedophiles, gang members, and rapists,” she wrote in an email. "Any suggestion that the Administration is not laser focused on these dangerous criminals is flat out wrong.” While most ICE detainees are not convicted criminals, there are detainees who have committed serious crimes. On Friday, the administration released information on five high-level offenders who had been arrested.

      During his campaign, Trump highlighted several cases where immigrants in the country illegally were arrested for horrific crimes. Among them: The killing of 22-year-old Laken Riley, a Georgia nursing student who was slain last year by a Venezuelan man in the US illegally. Jose Ibarra was found guilty of murder and other crimes in Riley's February 2024 killing and sentenced him to life in prison without the possibility of parole. Ibarra is seeking a new trial.

      Trump in January signed into law the Laken Riley Act, which requires the detention of unauthorized immigrants accused of theft and violent crimes.

      Immigrants are not driving violent crime in US, studies find Research has consistently found, however, that immigrants are not driving violent crime in the US and that they actually commit fewer crimes than native-born Americans. A 2023 working paper from the National Bureau of Economic Research, for example, reported that immigrants for 150 years have had lower incarceration rates than those born in the US In fact, the rates have declined since 1960 — according to the paper, immigrants were 60 per cent less likely to be incarcerated.

      Experts say the false rhetoric coming out of the Trump administration creates real harm.

      “It makes people in immigrant communities feel targeted and marginalised,” Arulanantham said. “It creates more political and social space for hate in all its forms, including hate crime against immigrant communities.” Eisen noted that the impact extends to other communities as well.

      “All Americans should want safe and thriving communities and this idea that the president of the United States is making misleading statements about the truth and distorting reality is not the way to deliver public safety,” she said. (AP) RD RD

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