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    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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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.
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
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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.
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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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Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.

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Unfortunate that US chose to adopt punitive measures against India: SJM on tariffs

August 1, 2025

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New Delhi, Aug 1 (PTI) The Swadeshi Jagran Manch (SJM) on Friday slammed the US for applying "coercive tactics" on India to gain access to Indian markets in sensitive sectors, and asked the government to stay firm on its stance to protect national interest.

While trade threats will ultimately harm US consumers by driving up domestic inflation, for India, any "short-term losses" will only strengthen the imperative of becoming self-reliant in critical sectors, the RSS affiliate added.

The SJM was reacting to US President Donald Trump announcing a 25 per cent tariff on India and an additional penalty for New Delhi's purchases from Russia.

"The SJM expresses deep concern over US President Donald Trump's recent statement threatening 'unspecified penalties' against India's trade ties with Russia, in addition to the already announced 25 percent tariff hike," the Manch's national co-convenor Ashwani Mahajan said in a statement.

He said India's sovereign right to procure defence equipment to strengthen self-reliance in defence production and to secure crude oil at the most competitive prices, essential to keeping domestic inflation under check, cannot be subjected to external pressure.

If Washington believes that such "coercive tactics" can sway India's decisions, it must recognise that today's India is not the India of a decade ago, he added.

"The SJM urges the government of India to maintain its firm stance and to use this moment to strengthen strategic autonomy, protect national interest, and advance a truly multi-polar and equitable global trade order, and make a decisive move towards 'Aatmanirbhar Bharat'," Mahajan said.

"We are emerging as a global power, demonstrated decisively during Operation Sindoor, and committed to building robust indigenous capabilities in arms production. The United States, too, needs to move beyond the inertia of a unipolar world view and embrace the reality of a multi-polar, cooperative order," he said.

"The SJM believes this is a moment to accelerate diversification of trade beyond traditional partners, deepening ties with Latin America, Africa, the expanded BRICS bloc, and the Global South. While the US remains India's largest trading partner, trade must always serve mutual benefit - not be used as an instrument of pressure," he added.

Mahajan said it is "unfortunate" that the US has chosen to adopt punitive measures against India, which is a strategic partner of the country, at a time when the world must collectively respond to the far greater challenge posed by China's weaponisation of trade and global value chains.

Beijing's restrictions on rare earth exports is causing huge harm to manufacturing capacities worldwide, he said.

Rather than resorting to building pressure, the US should strengthen cooperation with India to build resilient, diversified, and equitable global supply chains, he added.

"We congratulate the government of India for standing firm against pressure during the ongoing India-US Free Trade Agreement (FTA) negotiations despite threats of reciprocal tariffs and the missed deadlines of July 9 and July 31," the SJM national co-convenor said.

Indian negotiators have "rightly" resisted attempts to force open our markets to genetically modified (GM) agricultural products, dairy imports, and other sensitive sectors, he added.

"It is worth noting that the US continues to exert pressure on multiple countries to lower tariffs outside the framework of WTO rules, often invoking non-trade considerations under the guise of reciprocity," Mahajan said.

"The key sticking points in the current negotiations remain the US demand for market access for GM crops, deregulation of medical devices, and unrestricted cross-border data flows," he added.

India has legitimately sought exemptions from steel, automobile, and pharmaceutical tariffs and defended its policy of data localisation, he added "India's 'principled stand' that GM food imports threaten both our biodiversity and food security, and that sensitive data must remain within sovereign control is fully aligned with our long-term national interest," the senior SJM functionary said.

"We must avoid concessions that undermine our farmers, small-scale industries, or long-term economic self-reliance." he said.

The experience of recent years has shown that India can leverage shifting global trade patterns, including those "resulting from US-China tensions", to its advantage without compromising core interests, he added. PTI PK DV DV

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