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    ED can't add old FIR to Enforcement Case Information Report to sustain PMLA proceedings: Delhi HC
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August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
Show AI Summary
Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
Show AI Summary
India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
Show AI Summary
Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.

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Customs & Trade

Trump could meet in person with Putin as soon as next week, White House official says

August 7, 2025

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Washington, Aug 6 (AP) US President Donald Trump could meet in person with Russian President Vladimir Putin as soon as next week as he seeks to broker an end to the Russia-Ukraine war, a White House official said on Wednesday.

The official cautioned that a meeting has not been scheduled yet and no location has been determined. The official was not authorised to speak publicly and spoke to The Associated Press on condition of anonymity to discuss internal plans.

News of a potential meeting, which was first reported by The New York Times, came hours after Trump's special envoy Steve Witkoff met with Putin in Moscow on Wednesday. Trump had posted earlier on Truth Social that Witkoff "had a highly productive meeting" with Putin in which "great progress was made".

Trump said he updated America's allies in Europe about the meeting and that they will work toward an end to the Russia-Ukraine war "in the days and weeks to come".

White House press secretary Karoline Leavitt said, "The Russians expressed their desire to meet with President Trump, and the President is open to meeting with both President Putin and President Zelensky." Her statement did not address the potential timing of any meeting.

Witkoff met with Putin days before the White House's deadline for Russia to reach a peace deal with Ukraine or potentially face severe economic penalties that could also hit countries buying its oil.

The meeting between Putin and Witkoff lasted about three hours, the Kremlin said.

Putin's foreign affairs adviser Yuri Ushakov said Putin and Witkoff had a "useful and constructive conversation" that focussed on the Ukrainian crisis and, in a nod toward improving relations between Washington and Moscow, "prospects for possible development of strategic cooperation" between the United States and Russia.

The threat of US sanctions Earlier on Wednesday, the same White House official said the US was still expected to impose secondary sanctions against Russia on Friday, after a 10-day deadline that Trump imposed is to expire. The White House has not yet released details about the sanctions.

Washington has threatened "severe tariffs" and other economic penalties if the killing does not stop.

Trump also has threatened to slap tariffs on nations that buy Russian oil, which could increase import taxes dramatically on China and India. He said on Tuesday he had not publicly committed to any particular tariff rate, and indicated that his decision could depend on an outcome of the meeting with Putin.

Trump has expressed increasing frustration with Putin over Russia's escalating strikes on civilian areas of Ukraine, intended to erode morale and public appetite for the war. The intensified attacks have occurred even as Trump has urged the Russian leader in recent months to relent.

Zelenskyy said on Wednesday evening that he and Trump spoke on the phone after Witkoff met with Putin. He said "European leaders also participated in the conversation" and "we discussed what was said in Moscow".

"It seems that Russia is now more inclined to agree to a ceasefire," Zelenskyy said, adding that the pressure on Moscow "is working", without elaborating.

Zelenskyy stressed it was important to make sure Russia does not "deceive us or the United States" when it comes to "the details" of a potential agreement. Kyiv proposes that Ukraine and its allies soon "talk to determine our position, our common position, and our common view".

The fighting grinds on Overnight from Tuesday to Wednesday, Russian forces hit a recreational centre in Ukraine's southern Zaporizhzhia region, killing two people and injuring 12, including two children, regional Gov. Ivan Fedorov said on Wednesday.

Russian forces launched at least four strikes on the area and initially attacked with powerful glide bombs.

"There is zero military sense in this strike. Only cruelty to intimidate," Zelenskyy said in a post on Telegram.

Russia also struck the Ukrainian power grid and facilities for heating and cooking gas, Zelenskyy said, as Ukraine makes preparations for winter.

Western analysts and Ukrainian officials say Putin is stalling for time and avoiding serious negotiations while Russian forces push to capture more Ukraine land. A Russian offensive that started in the spring and is expected to continue through the fall is advancing faster than last year's push but is making only slow and costly gains and has been unable to take any major cities.

The situation on the front line is critical for Ukrainian forces but defences are not about to collapse, analysts say.

Risks of more pressure Stepping up diplomatic and economic pressure on the Kremlin risks stoking international tensions amid worsening Russia-US relations.

Putin has given no hint that he might be ready to make concessions. Instead, the Russian leader and senior Kremlin officials have talked up the country's military strength.

Putin announced last week that Russia's new hypersonic missile, which he says cannot be intercepted by current NATO air-defence systems, has entered service.

Russia announced on Tuesday that it no longer regards itself as bound by a self-imposed moratorium on the deployment of nuclear-capable intermediate range missiles, a warning that potentially sets the stage for a new arms race.

Former Russian President Dmitry Medvedev, meantime, warned that the Ukraine war could bring Russia and the US into armed conflict. Trump responded to that by ordering the repositioning of two US nuclear submarines.

Kremlin spokesman Dmitry Peskov on Monday welcomed Witkoff's visit. "We consider (talks with Witkoff) important, substantive and very useful," he said.

Trump initially gave Moscow a 50-day deadline, but later moved up his ultimatum as the Kremlin continued to bomb Ukrainian cities.

However, Trump himself doubted their effectiveness, saying on Sunday that Russia has proven to be "pretty good at avoiding sanctions".

"They are wily characters," he said of the Russians.

The Kremlin has insisted that international sanctions imposed since its February 2022 invasion of its neighbour have had a limited impact.

Ukraine maintains the sanctions are taking their toll on Moscow's war machine and wants Western allies to ramp them up. (AP) RC

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