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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
    UPI Completes 10 Years of Digital Payments Revolution- Globally Recognised as World’s Largest Real‑Time Payment System
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August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
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Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
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Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.

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Customs & Trade

Trump's latest tariff deadline is approaching. Here are the trade deals the US has announced so far

July 31, 2025

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New York, Jul 31 (AP) The clock is ticking closer to US President Donald Trump's latest tariff deadline of August 1. And while several more deals — or at least frameworks for deals — have been reached since his last tariff deadline of July 9 came and went, trade talks with many countries are still in flux.

Trump unveiled sweeping import taxes on goods coming into the US from nearly every country back in April. That included heightened so-called reciprocal rates for certain countries, the bulk of which have since been postponed twice.

The first 90-day pause arrived in an apparent effort to quell global market panic and facilitate country-by-country negotiations, with the Trump administration at one point setting a lofty goal of reaching 90 trade deals in 90 days.

But three months later, only two deals emerged: with the UK and Vietnam. A separate “framework” for a deal was hashed out with China. And by early July, Trump began sending warning letters that higher tariffs would be imposed against dozens of countries on August 1.

Since then, the US has announced more trade frameworks. But, key details remain sparse — or not immediately captured in writing.

Here's what we know about the agreements so far, in the order of those most recently announced.

South Korea The US president said he reached an agreement with Seoul on July 30 that would impose a 15 per cent tariff on goods from South Korea.

The countries have also agreed for South Korea to buy $100 billion in energy resources from the US and for South Korea to give to the US $350 billion for “investments owned and controlled by the United States, and selected by myself, as president,” Trump said.

European Union The US and the EU announced a trade framework that imposes 15 per cent tariffs on most European goods — warding off Trump's most recent threat of 30 per cent if no deal had been reached by August 1.

But some key details require more work. The headline of the agreement, unveiled July 27, is that the 15 per cent tariff rate will apply to 70 per cent of European goods brought into the US — with the EU later confirming that that rate applies to pharmaceuticals, semiconductors, and car and car parts. But the remaining 30 per cent of those imports is still open for negotiations.

European Commission President Ursula von der Leyen said that both sides had agreed to zero tariffs for a range of “strategic” goods. Meanwhile, Trump pointed to heightened investments from European companies in the US — including what Trump said was $750 billion (638 billion euros) worth of natural gas, oil and nuclear fuel over three years, as well as an additional $600 billion (511 billion euros) under a political commitment that isn't legally binding, officials said.

Japan On July 22, Trump announced a trade framework to impose 15 per cent tariffs on Japan — down from his previously-threatened rate of 25 per cent. The US president also said Japan would invest $550 billion into the US and would “open” its economy to American autos and rice.

The newly-agreed on 15 per cent tariff rate also applies to Japanese cars — marking a welcome relief for automakers like Toyota Motor Corp. and Honda — which, like other automakers, have faced a 25 per cent levy on key parts and finished vehicles going into the US since earlier this year. But car companies in other countries, including the US competitors, worry that this could put them at a disadvantage.

Philippines Shortly after a July 22 meeting with Philippine President Ferdinand Marcos Jr, Trump announced that he would lower his upcoming tariffs on imports from the country to 19 per cent — down just 1 per cent from his previous threat of 20 per cent.

In return, Trump said on Truth Social, the US would not pay tariffs on American goods it shipped to the Philippines. But additional details remained unclear. Marcos said his country was considering options such as having an open market without tariffs for US automobiles, but emphasised details were still left to be worked out.

Indonesia On July 15, Trump again took to social media to announce that he's agreed to lower his planned tariffs on Indonesian goods to 19 per cent — down from a previously-threatened levy of 32 per cent — while American goods sent to the southeast Asian country will face no tariffs. A fact sheet from the White House later confirmed that “over 99 per cent of US products” exported to Indonesia would be sent duty-free.

Indonesian President Prabowo Subianto said he will continue to negotiate with Trump, in hopes of further lowering the upcoming US tariffs.

Vietnam On July 2, Trump announced a trade deal with Vietnam that he said would allow US goods to enter the country duty-free. Vietnamese exports to the US, by contrast, would face a 20 per cent levy.

That's less than half the 46 per cent “reciprocal” rate Trump proposed for Vietnamese goods back in April. But in addition to the new 20 per cent tariff rate, Trump said the US would impose a 40 per cent tax on “transshipping'' — targeting goods from another country that stop in Vietnam on their way to the United States. Washington complains that Chinese goods have been dodging high US tariffs by transiting through Vietnam.

United Kingdom On May 8, Trump agreed to cut tariffs on British autos, steel and aluminium, among other trade pledges — while the UK promised to reduce levies on US products like olive oil, wine and sports equipment. The deal was announced in grandiose terms by both countries, but some key details remained unknown for weeks.

When the deal was announced, for example, the British government notably said that the US agreed to exempt the UK from its then-universal 25 per cent duties on foreign steel and aluminium, which would have effectively allowed both metals from the country to come into the US duty-free.

But the timing for when those cuts would actually take effect stayed up in the air for almost a month. It wasn't until early June, when Trump hiked his steel and aluminium tariffs to a punishing 50 per cent worldwide, that the US acknowledged it was time to implement the agreement. And even the US tariffs on British steel and aluminium did not go to zero. The UK was the only country spared from Trump's new 50 per cent levies, but still faces 25 per cent import taxes on the metals.

China At its peak, Trump's new tariffs on Chinese goods totalled 145 per cent — and China's countertariffs on American products reached 125 per cent. But on May 12, the countries agreed to their own 90-day truce to roll back those levies to 30 per cent and 10 per cent, respectively. And in June, details began trickling in about a tentative trade agreement. US Treasury Secretary Scott Bessent said that China had agreed to make it easier for American firms to acquire Chinese magnets and rare earth minerals critical for manufacturing and microchip production. Meanwhile, the Chinese Commerce Ministry said that the US would “lift a series of restrictive measures it had imposed on China." Other key details of the deal remain murky — including the timing of implementation for these terms. On July 29, China's top trade official said the two sides had agreed to work on extending an Aug. 12 deadline for new tariffs on each other, following a two-day trade meeting in Stockholm. The US side said extension plans were discussed, but not decided. (AP) AMJ AMJ

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