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    RBI issues Draft (Securitisation Transactions) Amendment Directions
    Rupee rises 5 paise to 95.77 against US dollar in early trade
    Woman GST officer, consultant caught taking Rs 60,000 bribe in Maharashtra's Jalna
    Zelenskyy has 'good meeting' with Trump at White House as he seeks more cooperation with US
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    Gold Loan EMI or Bullet Repayment: Muthoot Finance Helps Choose Right in 2026
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July 29, 2026
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Securitisation Note amendments seek stronger issuance efficiency, liquidity and transparency, with stakeholder consultation invited on proposed directions.
Draft amendments to securitisation transaction directions seek to improve the efficiency, liquidity and transparency of issuing and subsequently transferring Securitisation Notes. The proposals apply to commercial banks, small finance banks, non-banking financial companies and all India financial institutions. Public and stakeholder comments are invited through the designated regulatory consultation platform or alternatively by post or email.
July 29, 2026
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Rupee appreciation reflected weaker dollar conditions, equity inflows, crude oil movements and positive domestic market sentiment.
Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar. A weaker US dollar, lower crude oil prices relative to earlier levels, positive domestic equity sentiment, and foreign institutional investors' net purchase of Indian equities were identified as key influences. The dollar index weakened ahead of a monetary policy announcement, while crude prices rose amid renewed geopolitical tensions. Domestic benchmark equity indices also advanced in early trade.
July 29, 2026
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Input Tax Credit unblocking allegedly involved illegal gratification, prompting a trap operation and apprehension of the officer and consultant.
Alleged bribery connected with unblocking Input Tax Credit arose after an electronics trader received a show-cause notice and had its ITC blocked. A private tax consultant allegedly conveyed that a State GST officer demanded illegal gratification for unblocking the credit and encouraged the trader to settle the demand. Following a complaint, a trap operation allegedly led to the apprehension of the officer and consultant, with further legal action in progress.
July 29, 2026
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Defence production licensing and Russian energy sanctions shaped discussions on Ukraine's security capacity, missile supply and diplomatic engagement.
Ukraine-US discussions addressed licences for domestic Patriot defence-system production, wider defence-production cooperation, technology exchange and missile supply funded through European resources. Ukraine also sought support for a sanctions bill designed to increase economic pressure on Russia by imposing tariffs on goods from major purchasers of Russian oil and gas and by sanctioning Russian leaders, financial institutions and energy projects. The proposed defence-production licence was identified as a longer-term measure, alongside calls for renewed diplomatic engagement.
July 29, 2026
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Cooperative-sector modernisation strengthens rural finance through expanded credit societies, online audits, institutional connectivity and technology-enabled cooperative banking.
Cooperative-sector modernisation is presented as a mechanism for strengthening rural institutions, farmer prosperity and the rural economy. The separate Ministry of Cooperation provides an administrative, legal and policy framework for the cooperative movement. Key initiatives include establishing new primary agricultural credit societies and dairy cooperative societies, expanding business activities for primary agricultural credit societies, online auditing, and connecting cooperative institutions. District cooperative banks are described as important institutions for meeting the financial requirements of expanding service and dairy cooperative societies.
July 28, 2026
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Direct containerised rail freight movement enables seamless Kolkata Port-to-Biratnagar cargo transport without border transshipment under revised transit arrangements.
Direct containerised rail freight movement between Kolkata Port and Biratnagar Customs Yard has commenced under the revised India-Nepal Rail Transit Protocol. The service enables end-to-end commercial rail carriage without border transshipment through the Jogbani-Biratnagar broad-gauge connection. Implementation of the revised Letter of Exchange operationalises direct commercial rail access, intended to reduce transit time, logistics costs and cargo handling while improving supply-chain efficiency, reliability and cross-border trade.
July 28, 2026
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State governance reforms expand housing relief, local audits, MSME support, property records, welfare measures and clean-vehicle tax incentives.
The reforms provide concessional stamp duty and registration charges for eligible Economically Weaker Section housing beneficiaries, a statutory local-audit framework, and incentives for MSMEs and exports. They also establish rules for ownership records in Lal Dora areas and introduce a formula-based urban property-tax assessment framework with exemptions. Welfare measures cover compensation for specified unnatural custodial deaths, ex-Agniveer reservation, and compassionate appointments. Motor-vehicle tax measures provide a rebate for qualifying vehicles registered in women's names and exemptions for new electric vehicles.
July 28, 2026
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Investigation into alleged fund diversion faced scrutiny as agencies were required to disclose progress and decide on regular cases.
Investigation into alleged dubious transactions and fund diversion involving Indiabulls Housing Finance Limited remained under scrutiny because investigating agencies did not provide an updated status or take a final decision on registration of regular cases. The Central Bureau of Investigation and Delhi Police Economic Offences Wing were required to file a comprehensive affidavit and status report. The allegations concern loans allegedly routed through corporate entities to promoter-linked companies, alongside inquiries involving financial, corporate-fraud and market-regulatory agencies.
July 28, 2026
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MSME payment-delay reforms propose faster dispute resolution, enforceable settlement recovery, and invoice discounting to strengthen supplier liquidity.
The proposed amendment strengthens delayed-payment dispute resolution for micro and small enterprise suppliers through prescribed adjudication timelines and possible interim payment of at least half the awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and are proposed to be legally enforceable debts under the insolvency framework. Central public sector enterprises would be required to route MSME invoice settlements through the Trade Receivables Discounting System.
July 28, 2026
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Regional rural bank oversight strengthens financial performance, technology adoption, diversified lending and financial inclusion in remote communities.
Regional Rural Banks are regularly reviewed for financial performance, technology upgradation, MSME lending, loan diversification and financial inclusion in rural and remote areas. Their financial health improved over recent years, with growth in deposits, loans, credit-deposit ratio, net worth and capital adequacy, alongside improved asset-quality indicators. Financial-inclusion targets for bank-account access, micro-credit, insurance and pension schemes are set and periodically monitored to extend formal financial services.
July 28, 2026
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Emergency credit guarantee support addresses business liquidity mismatches while public sector banks report stronger asset quality and sectoral lending growth.
Public sector banks reported improved balance-sheet health, rising business and lending, higher profits, stronger capital adequacy, and lower gross non-performing assets through FY 2025-26. Credit expanded across retail, agriculture, MSME, and infrastructure segments. Emergency Credit Line Guarantee Scheme 5.0 provides guarantee coverage to member lending institutions for eligible additional credit facilities addressing short-term liquidity mismatches, with full coverage for MSMEs and differentiated coverage for non-MSMEs and scheduled passenger airlines. Airline assistance is linked to peak credit outstanding and may require proportionate promoter or owner equity contribution above the applicable threshold.
July 28, 2026
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Toy quality regulation and export support strengthen domestic manufacturing, safety compliance, market access, and competitiveness in the Indian toy sector.
Toy-sector measures combine quality regulation, import-duty changes, domestic manufacturing support, export facilitation, and promotional initiatives. The National Action Plan for Toys covers toy design, learning-oriented toys, quality monitoring, restrictions on unsafe imports, indigenous clusters, and domestic production. A Quality Control Order and BIS licensing framework support compliance with toy-safety standards. Cluster assistance, startup recognition, export-duty remission support, and zero-duty market access under specified trade agreements seek to strengthen competitiveness, while stated measures are associated with improved quality conformity, lower imports, and increased exports.
July 28, 2026
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Preferential market access under free trade agreements supports export diversification, labour-intensive sectors, and exporter use of tariff concessions.
India's FTA framework is used to promote preferential tariff utilisation, export diversification and expanded market access. The Government monitors recently operationalised agreements through Certificates of Origin and partner-country trade data. Agreements with the UAE, Australia, Mauritius, Oman and EFTA are associated with increased product-line coverage, tariff preference utilisation and export opportunities. Labour-intensive sectors receive priority through preferential access, while calibrated tariff liberalisation and transition arrangements seek to protect sensitive domestic sectors. Trade e-Connect and the Trade Intelligence and Analytics Portal support exporters with market intelligence, rules of origin guidance, trade data and export-performance monitoring.
July 28, 2026
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Preferential Market Access under free trade agreements supports export diversification, labour-intensive sectors, tariff utilisation and data-driven trade facilitation.
Preferential tariff utilisation under recently operationalised trade agreements is monitored through Certificates of Origin and partner-country trade data. Increased certificate issuance and expansion in exported HS-level tariff lines are treated as indicators of export diversification and market penetration. Labour-intensive sectors receive improved market-access opportunities under FTAs, while calibrated tariff liberalisation and transition arrangements preserve policy space for sensitive domestic sectors. Trade e-Connect and the Trade Intelligence and Analytics Portal provide exporters and policymakers with market intelligence, Rules of Origin guidance, FTA advisory services and trade-performance analytics.
July 28, 2026
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Sports-quota government recruitment recognised medal-winning student-athletes for public employment across defence, policing, railways and other government institutions.
Sports-quota recruitment enabled medal-winning student-athletes to obtain government employment on the basis of sporting performances at state, national and international levels. Appointments covered armed forces, central armed police and paramilitary organisations, railways, police, the Income Tax Department, a public-sector bank, sports departments and other government institutions. The described sports framework provides scholarships, coaching, infrastructure, dietary support, travel, accommodation, equipment and selection-oriented physical, mental and personality-development training.
July 28, 2026
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Sugar stock controls require dealers to limit inventory duration and quantity, declare holdings, and curb speculative buying.
Sugar dealers may not retain stock beyond thirty days from receipt or hold sugar above 4,000 quintals at any time or place. Government-account stocks and authorised Public Distribution System stocks are excluded. State Governments and Union territory administrations may prescribe limits only within the national ceiling and holding period. Dealers must declare and regularly update stock positions on the designated portal. The temporary restrictions are intended to maintain domestic availability, discourage speculative buying and contain sugar prices.
July 28, 2026
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Credit Profile Management requires timely repayments, controlled utilisation, selective borrowing and prompt correction of credit-report inaccuracies.
A healthy credit profile depends on timely repayment of EMIs and credit-card dues, controlled credit utilisation and selective applications for new credit. Missed payments, sustained high utilisation and multiple hard enquiries may affect credit health and lender assessment. Individuals should periodically review credit reports for inaccurate personal details, closed loans recorded as active, missing repayment updates, duplicate loan entries or incorrect payment status, and promptly seek correction of discrepancies. Regular monitoring of credit score, repayment history, active accounts and enquiries supports informed credit-management decisions.
July 28, 2026
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Gold loan repayment structures require borrowers to weigh EMI interest savings against bullet repayment cash-flow flexibility and maturity obligations.
Gold loans may be repaid through EMIs, which reduce principal and interest through periodic instalments, or through Bullet Repayment, which defers principal and accrued interest until maturity. The stated framework imposes tiered loan-to-value limits and caps consumption-purpose bullet loans at 12 months, with bullet-loan collateral assessment including projected interest. EMI repayment may reduce overall interest cost for borrowers with predictable income, while bullet repayment may preserve cash flow for borrowers expecting a defined future inflow. Borrowers should compare costs and review the Key Fact Statement before choosing a structure.
July 28, 2026
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Illicit trade prevention requires coordinated intelligence sharing, risk-based shipment controls and public-private cooperation to protect supply-chain integrity.
Illicit trade prevention requires coordinated regional action through institutional intelligence-sharing, joint enforcement, regulatory alignment and public-private engagement. Proposed measures include risk-based pre-export assurance, shipment controls, digital customs tools and common principles adaptable to sector-specific risks. India is identified as a dialogue partner that can support secure regional trade through enforcement cooperation, intelligence exchange and risk-based governance. Analytical research, market intelligence, product-identification awareness and voluntary track-and-trace initiatives may assist in addressing illicit tobacco trade and strengthening lawful trade integrity.
July 28, 2026
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Toy-sector competitiveness is advanced through a task force and playbook focused on manufacturing, innovation, quality compliance and exports.
Toy-sector competitiveness is proposed to be advanced through a dedicated task force and a playbook addressing manufacturing ecosystems, value chains, standards and compliance, skills, innovation, intellectual property and exports. The task force is intended to strengthen manufacturing capability, resolve value-chain bottlenecks, enable design and innovation, develop employment and skills, improve ease of doing business and support global value-chain integration. The roadmap emphasises domestic production, quality standards, localisation, branding, cluster development and support for MSMEs and startups.

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Customs & Trade

Trump's tariff threat pushes Lula's popularity, worsens legal troubles for Brazil's ex-leader

July 19, 2025

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Sao Paulo, Jul 19 (AP) US President Donald Trump may have thought that pressuring Brazil with higher tariffs would help his ally, the country's former President Jair Bolsonaro, but the move apparently backfired.

Last week, Trump sent a letter to Brazilian President Luiz Inácio Lula da Silva threatening a 50 per cent import tax and directly linking the decision to Bolsonaro's trial, which he called a “witch hunt”.

“This trial should end immediately!” Trump wrote Thursday evening in a second letter, this one addressed to Bolsonaro. He added that he had “strongly voiced” his disapproval through his tariff policy.

Rather than backing down, Brazil's Supreme Court escalated the case, worsening Bolsonaro's legal troubles. On Friday morning, federal police raided Bolsonaro's home and political office. The former president was ordered to wear an ankle monitor, banned from using social media, and hit with other restrictions.

Meanwhile, President Lula — who was facing higher unpopularity, growing opposition in Congress and increasing risks to his likely reelection bid — seems to have gained politically from the situation.

Now the 79-year-old leftist Lula, in office for the third non-consecutive term of his long political career, is seeing renewed acceptance, congressional support against Trump and pleas to run one last time to defend Brazil's sovereignty.

Back in the game Lula has appeared more energized in public since Trump's announcement. At a national students assembly Thursday, he wore a blue cap reading “Sovereign Brazil Unites Us" — a contrast to MAGA's red cap.

“A gringo will not give orders to this president," he told the crowd, and called the tariff hike “unacceptable blackmail.” The impact on Lula is not a first. Trump's actions targeting other countries have boosted ideological rivals in Canada and Australia instead of strengthening his allies at a local level.

Private pollster Atlas said Tuesday that Lula's unpopularity had reversed course after his spat with Trump. Lula's job approval went from at 47.3 per cent in June to 49.7 per cent since the tariffs battle began.

The poll of more than 2,800 people was conducted July 11-13, with a margin of error of 2 percentage points. The study also said 62.2 per cent of Brazilians think the higher tariffs are unjustified while 36.8 per cent agree with the measure.

Even Bolsonaro's former vice president, Sen. Hamilton Mourao, criticised Trump's move as undue interference in Brazil's politics, though he said he agreed the trial against the far-right leader is biased against him.

Social media analytics firm Palver analyzed 20,000 messages about Trump on WhatsApp, Brazil's most widely used communication platform, a day after Trump's announcement. Its analysis said right-wing users dominated viral content, but spontaneous conversations leaned left, mocking Bolsonaro as submissive and defending Brazil's sovereignty.

“Trump has put Lula back in the game,” said Thomas Traumann, an independent political consultant and former spokesman for the Brazilian presidency who only weeks ago argued that Lula had lost his front-runner status in the presidential race as he struggled to deliver on his promises on the economy.

“Trump handed it to Lula on a silver platter,” Traumann said.

Business leaders who until recently sided with Bolsonaro are having to court Lula to negotiate with Trump. Agribusiness, Brazil's largest economic sector and a traditional right-wing stronghold, united to criticise the US president's move. Industry groups were quick to denounce the tariffs as politically motivated and lacking any commercial justification.

National outrage “In general, with the major exception of a more radical conservative wing, (Trump's move) generated national outrage for violating Brazil's sovereignty,” lawmaker Arnaldo Jardim, a member of the congressional agricultural caucus, told The Associated Press.

Jardim, who pushed for the approval of a reciprocity bill that could be used by Lula if there's no agreement until the Aug. 1 deadline, hardly sides with the president.

“Even among sectors that initially thought this could benefit Bolsonaro, many had to reconsider their positions,” he said.

Top congressional leaders who recently helped nix a Lula decree to raise a transactions tax were moving toward a head-on collision with him. After Trump's announcement, they signed a joint statement agreeing with Lula's promise to use the reciprocity law against the US.

In another change, Brazil's Congress decided to start moving on Lula's plan to give an income tax break to millions of poorer Brazilians. Many politicians said that such initiative was dead after Lula became the first president in three decades to have a decree annulled by lawmakers.

Bolsonaro remains on trial At the Supreme Court, Bolsonaro is only getting deeper into trouble as his trial continues.

Earlier this week, Brazil's chief prosecutor called for a guilty verdict, accusing the former president of leading an armed criminal organization, attempting to stage a coup and attempting violent abolition of the democratic rule of law, among other charges.

The defence will next likely present its case in the coming weeks, after which the panel of Supreme Court justices in the trial will vote on whether to convict or acquit him.

The former president also suffered more consequences — the court's latest restrictions on Bolsonaro, including the ankle monitor, are part of a second investigation against one of his sons, Eduardo Bolsonaro, a Brazilian lawmaker who currently lives in the United States and is known for his close ties to Trump.

He has been under scrutiny for allegedly working with US authorities to impose sanctions against Brazilian officials.

Supreme Court Justice Alexandre de Moraes, who oversees criminal cases against Bolsonaro, said his and his son's actions attempted to pressure the Brazilian judiciary by involving the US.

The court's decision cited both Trump's letter to Lula and several social media posts by the Bolsonaros in support of sanctions against Brazilian officials and speaking favourably about tariffs.

“A sovereign country like Brazil will always know how to defend its democracy and sovereignty,” de Moraes said. “The judiciary will not allow any attempt to subject the functioning of the Supreme Court to the scrutiny of another state through hostile acts.” Jair Bolsonaro told journalists in Brasilia, the country's capital, that the ankle monitoring was a “supreme humiliation”.

“I never thought about leaving Brazil, I never thought about going to an embassy, but the precautionary measures are because of that,” the former president said.

In a statement, Eduardo Bolsonaro accused de Moraes of trying to criminalise Trump and the US government.

“Since he has no power over them, he decided to make my father a hostage,” the younger Bolsonaro said of the judge. (AP) PY PY

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