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    Growth with Responsibility: The Next Balance Sheet - Special Address by Shri Swaminathan J, Deputy Governor, Reserve Bank of India at the FE Modern BF...
    India–New Zealand FTA to Come into Force on 20th October 2026 on Vijay Dashmi, Opening New Opportunities for Indian Exporters
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October 21, 2026
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Growth with sound controls requires regulated institutions to retain accountability, protect trust, and respond rapidly to digital risks.
Financial-sector growth in an increasingly digital and interconnected system must be accompanied by a control environment commensurate with the pace and nature of growth. Digital onboarding, AI-led underwriting and autonomous workflows may lower costs, improve customer experience and widen access, but not every process friction is inefficiency. Technology cannot eliminate underlying risk. Before a manual check is automated or removed, institutions should identify the risk it controlled and determine where that control will reside. Process outsourcing through fintechs, external platforms or third-party models does not transfer responsibility associated with the regulated institution's licence.
October 21, 2026
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Duty-free market access under the India-New Zealand Free Trade Agreement expands exports, services mobility, agricultural cooperation, and trade safeguards.
New Zealand eliminates customs duties on all tariff lines for Indian exports, providing 100% duty-free access for sectors including textiles, leather, engineering goods, automobiles, chemicals, pharmaceuticals, agricultural products and processed foods. Sensitive products, including dairy, sugar, edible oils and key agricultural commodities, remain excluded from concessions. Rules of origin, bilateral safeguard measures and anti-circumvention provisions are intended to ensure that preferential benefits reach genuine Indian exporters and to protect vulnerable agricultural and rural interests. Tariff Rate Quotas for apples, kiwifruit and Ma nuka honey are linked to delivery of Agricultural Productivity Partnership Action Plans.
October 21, 2026
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Cross-border cannabis trafficking enforcement targets truck-based concealment methods, with narcotics and transport vehicle seized under NDPS law.
Intelligence-led narcotics enforcement resulted in the seizure of 591.3 kg of ganja concealed in specially fabricated compartments of a truck suspected to have carried contraband from Nepal into Uttar Pradesh. Surveillance based on specific intelligence led to interception of the vehicle, from which 81 packets were recovered from cavities above the hood and behind the driver's seat. The ganja consignment and the transport vehicle were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985.
October 21, 2026
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Cross-border cigarette smuggling triggers customs seizure where foreign-origin packs lack mandatory pictorial health warnings and are transported illicitly.
Cross-border cigarette smuggling was detected through intelligence-led surveillance on the Champhai-Aizawl Road in Mizoram. A truck was intercepted at Tuirial village, resulting in recovery of 432 cases containing 43,20,000 sticks of foreign-origin "Patron" cigarettes. The packets lacked mandatory pictorial and health warnings under the Cigarettes and Other Tobacco Products Act, 2003. The cigarettes and truck were seized under the Customs Act, 1962, and the driver was arrested.
October 21, 2026
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Financial inclusion saturation campaign organises bank camps for insurance, pension, account access, KYC, fraud awareness, and agricultural credit enrolment.
The financial inclusion saturation campaign will operate through bank camps providing enrolment in insurance and pension schemes, opening of basic bank accounts, Aadhaar seeding, re-KYC, central KYC identifier generation, and nomination updates. Camps will also conduct awareness sessions on financial-inclusion schemes, digital fraud and unclaimed financial assets, source agricultural credit applications for eligible farmer-beneficiaries, and facilitate crop-insurance enrolment for the upcoming Rabi season.
October 21, 2026
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Gold smuggling enforcement targets airport concealment, illegal melting and jewellery-market disposal within organised customs-law networks.
Customs enforcement action concerned an organised gold-smuggling syndicate that allegedly imported foreign-origin gold through airports by concealing it as rhodium-coated wires, within trolley-bag linings and as gold paste. The distribution chain allegedly involved handlers, intermediaries, an illegal melting facility and cash sales through a jewellery outlet. Searches uncovered gold, evidence of illegally melted gold, undocumented bars, and records of smuggled-gold dealings, while identifying a financier and other network participants.
October 21, 2026
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Electronic origin data exchange supports customs cooperation, trade facilitation, and efficient use of bilateral trade preferences.
Electronic origin data exchange for trade in goods is established through a Memorandum of Cooperation between the Indian and New Zealand customs administrations under the India-New Zealand Free Trade Agreement. The arrangement provides for advance electronic sharing of origin data, strengthening bilateral customs cooperation and supporting implementation of trade-facilitation measures. The mechanism supports effective use of FTA trade preferences and facilitates delivery of negotiated benefits to eligible businesses in both countries.
October 19, 2026
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Narcotics trafficking enforcement led to airport and road interceptions, baggage concealment detection, seizures, and arrests under the NDPS framework.
Narcotics trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985, involved intelligence-led interceptions at Bengaluru and Delhi airports and near Nagpur. Passenger baggage and a backpack were examined, leading to the seizure of amphetamine and cocaine and the arrest of three passengers. The recoveries included amphetamine concealed in baggage, a ladies' suit and a backpack lining, and cocaine contained in transparent packets within baggage.
October 19, 2026
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Gold smuggling syndicate enforcement traces concealed imports through airport handlers, illicit melting, and jewellery-market disposal under customs law.
Directorate of Revenue Intelligence enforcement action identified an organised gold-smuggling syndicate importing foreign-origin gold through Ahmedabad and Surat airports, followed by handover to handlers, intermediary routing, illegal melting, and cash-based supply through an Ahmedabad jewellery outlet. Further searches recovered undocumented foreign-origin gold bars and records concerning smuggled gold linked to a Dubai-based financier. The investigation identified interconnected roles across the movement, processing, and disposal of smuggled gold; three persons were arrested under the Customs Act, 1962.
October 19, 2026
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Free trade agreement utilisation requires origin compliance, product standards, and documentation to secure preferential export market access.
Effective FTA utilisation requires businesses to identify eligible products and markets, assess tariff preferences and rules of origin, and meet applicable quality, certification, documentation and importing-country requirements. Preferential access under agreements with the UAE, Australia, EFTA countries and the United Kingdom remains subject to each agreement's provisions and implementation status. Tariff preferences may improve price competitiveness and facilitate participation in international supply chains where product- and partner-specific conditions are satisfied.
October 19, 2026
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Drug prevention awareness initiatives engage students through health education, interactive activities and pledges supporting a drug-free society.
Mission Yuva Raksha advances preventive drug awareness and demand-reduction efforts among students through programmes at educational institutions in Madhya Pradesh. Sessions addressed the harmful effects of substance abuse on physical and mental health, education, family life and careers, supported by interactive learning activities. Participants were encouraged to avoid drugs, adopt healthy lifestyles, take pledges and support awareness initiatives in their schools, families and communities. Preventive education and youth engagement complement enforcement-oriented work through informed choices and community-based resistance to substance abuse.
October 19, 2026
Show AI Summary
Coastal narcotics trafficking enforcement addresses suspected maritime methamphetamine smuggling through seizure, asset recovery, and arrests under drug-control law.
Intelligence-led narcotics enforcement addressed suspected coastal storage and maritime transfer of methamphetamine to Sri Lanka. Searches recovered crystal methamphetamine concealed in foil packets within duffel bags, which was seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Searches also recovered suspected drug-sale proceeds and vehicles allegedly used in transportation. Persons allegedly involved in organising coastal export, transport, storage and logistics were arrested and remanded to judicial custody.
October 17, 2026
Show AI Summary
Centralised audit framework targets lower physical branch audit coverage while preserving regulatory oversight and maintaining remuneration.
For FY 2026-27, audit remuneration is to remain at existing levels. Member banks are advised to accelerate a centralised audit framework to improve cost efficiency while retaining comprehensive risk oversight. Physical statutory branch audit coverage should be reduced to cover 50% of total business, apart from centralised treasury audits. Audit coverage must align with SEBI listing and disclosure requirements and RBI guidelines, supported by a Board-approved policy for the centralised audit roadmap.
October 17, 2026
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Promissory estoppel cannot prevent Government shareholding dilution where enacted legislation imposes no restriction on strategic disinvestment.
Government shareholding in IDBI may be reduced or divested because the IDBI (Repeal) Act, 2003 contains no restriction on dilution of the Government's stake. A proposed amendment to limit dilution was rejected and not incorporated into the enacted law. Parliamentary statements cannot override statutory text, and promissory estoppel cannot be invoked on the basis of legislative debate statements to prevent dilution of Government shareholding. Successive Union Budget speeches also reflected a policy of transformation and strategic disinvestment of IDBI Bank.
October 16, 2026
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Recipient-generated e-invoicing under reverse charge enables eligible taxpayers to obtain IRNs for domestic unregistered supplies and imported services.
Eligible active registered recipients meeting the applicable aggregate annual turnover threshold may report recipient-generated self-invoices for specified reverse-charge domestic supplies from unregistered persons and imports of services. RCMDOM and RCMIMP must be selected as the relevant e-invoice supply types when reporting through an authorised Invoice Registration Portal. Submission and validation of prescribed invoice particulars would generate an Invoice Reference Number, subject to applicable GST provisions, notifications and e-invoice specifications.
October 16, 2026
Show AI Summary
Reservation Policy Implementation in public financial institutions was examined through capacity building, practical deliberations, and measures for consistent application.
Implementation of the Government of India's Reservation Policy across public sector banks, public sector insurance companies, sectoral regulators and public financial institutions was addressed through capacity building to support uniform and effective application. Deliberations considered practical implementation issues, operational challenges and actionable measures for consistent policy application, alongside related welfare measures and interactive discussion of implementation questions.
October 16, 2026
Show AI Summary
Organic agricultural export certification supports overseas market access for Palmyra Jaggery Powder through export-oriented producer linkages.
APEDA facilitated the maiden sea export of NPOP- and EU-certified organic Palmyra Jaggery Powder from Tamil Nadu to Bulgaria. The initiative seeks to diversify India's organic export basket, create market linkages for traditional Palmyra-based products, and improve producer access through export-oriented value chains. It covers organic cultivation and reports improved price realisation for participating farmers and the manufacturer compared with the domestic market. APEDA supports certified organic and value-added agricultural exports through market development, quality compliance, and overseas buyer linkages.
October 16, 2026
Show AI Summary
Data-driven trade governance enables integrated monitoring, application analysis and evidence-based policy inputs through the National Strategic Trade Command Centre.
The National Strategic Trade Command Centre provides an integrated analytics and visualisation platform consolidating trade data to monitor trade indicators, scheme performance, application pendency, processing timelines, regional trends and compliance-related parameters. It enables analysis across national trade performance, Regional Authorities, schemes, products, destination markets and individual applications, subject to role-based access permissions. Initial dashboards cover key trade-facilitation and regulatory processes, including SCOMET, export promotion schemes, certificates of origin, importer-exporter registration and restricted imports and exports.
October 16, 2026
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Private capital mobilisation should use competitive financing, guarantees and risk mitigation to expand productive employment and productivity.
Private capital mobilisation is treated as essential to employment generation and productivity growth. Private enterprises, MSMEs and startups should remain central to job creation, with financing assessed by employment and productivity outcomes rather than volume. Guarantees, risk-mitigation instruments, local-currency financing and lower transaction costs are identified as means to expand affordable and predictable access to capital. Methodologies underlying governance indicators should be transparent, objective, evidence-based and responsive to diverse development experiences.
October 16, 2026
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Narcotics smuggling through misdeclared air cargo triggered seizure, arrest, and ongoing investigation into concealed hydroponic weed imports.
A Bangkok-origin air-cargo consignment declared as PU Tubes was examined on suspicion of mis-declaration. Plastic spools were found to contain concealed cavities holding polythene-wrapped packets of compacted green substance, preliminarily identified as suspected ganja/marijuana and described as hydroponic weed. The concealed substance, packaging and concealment material were seized under the NDPS Act, 1985. One person was arrested, and follow-up searches produced leads for continuing investigation.

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European leaders to join Ukraine's Zelenskyy for meeting with Trump

August 18, 2025

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Kyiv, Ukraine, Aug 17 (AP) European and NATO leaders announced Sunday they will join President Volodymyr Zelenskyy in Washington to present a united front in talks with President Donald Trump on ending Russia's war in Ukraine and firming up U.S. security guarantees now on the negotiating table.

Leaders from Britain, France, Germany, Italy and Finland are rallying around the Ukrainian president after his exclusion from Trump's summit on Friday with Russian President Vladimir Putin. Their pledge to be at Zelenskyy's side at the White House on Monday is an apparent effort to ensure the meeting goes better than the last one in February, when Trump berated Zelenskyy in a heated Oval Office encounter.

“The Europeans are very afraid of the Oval Office scene being repeated and so they want to support Mr. Zelenskyy to the hilt,” said retired French Gen. Dominique Trinquand, a former head of France's military mission at the United Nations.

“It's a power struggle and a position of strength that might work with Trump,” he said.

Putin agreed at his summit in Alaska with Trump that the U.S. and its European allies could offer Ukraine a security guarantee resembling NATO's collective defense mandate as part of an eventual deal to end the 3 1/2-year war, special U.S. envoy Steve Witkoff said in an interview Sunday on CNN's “State of the Union.” It “was the first time we had ever heard the Russians agree to that,” said Witkoff, who called it “game-changing.” Later, French President Emmanuel Macron said the European delegation will ask Trump to back plans they drafted to beef-up Ukraine's armed forces — already Europe's largest outside of Russia — with more training and equipment to secure any peace.

“We need a credible format for the Ukrainian army, that's the first point, and say — we Europeans and Americans — how we'll train them, equip them, and finance this effort in the long-term,” the French leader said.

The European-drafted plans also envision an allied force in Ukraine away from the front lines to reassure Kyiv that peace will hold and to dissuade another Russian invasion, Macron said. He spoke after a nearly two-hour video call Sunday with nations in Europe and further afield — including Canada, Australia and Japan — that are involved in the so-called “coalition of the willing.” The “several thousand men on the ground in Ukraine in the zone of peace” would signal that “our fates are linked,” Macron said.

“This is what we must discuss with the Americans: Who is ready to do what?” Macron said. “Otherwise, I think the Ukrainians simply cannot accept commitments that are theoretical.” European Commission President Ursula von der Leyen said earlier at a news conference in Brussels with Zelenskyy that “we welcome President Trump's willingness to contribute to Article 5-like security guarantees for Ukraine. And the coalition of the willing' -- including the European Union -- is ready to do its share.” Macron said the substance of security guarantees will be more important than whether they are given an Article 5-type label.

“A theoretical article isn't enough, the question is one of substance,” he said. “We must start out by saying that the first of the security guarantees for Ukraine is a strong Ukrainian army.” Along with Von der Leyen and Macron, British Prime Minister Keir Starmer, German Chancellor Friedrich Merz, Italian Premier Giorgia Meloni and Finnish President Alexander Stubb also said they'll will take part in Monday's talks, as will secretary-general of the NATO military alliance, Mark Rutte.

The European leaders' support could help ease concerns in Kyiv and in other European capitals that Ukraine risks being railroaded into a peace deal.

Neil Melvin, director of international security at the London-based Royal United Services Institute, said European leaders are trying to “shape this fast-evolving agenda.” After the Alaska summit, the idea of a ceasefire appears all-but-abandoned, with the narrative shifting toward Putin's agenda of ensuring Ukraine does not join NATO or even the EU.

U.S. Secretary of State Marco Rubio said on NBC's “Meet the Press” on Sunday that a possible ceasefire is “not off the table” but that the best way to end the war would be through a “full peace deal.” Putin has implied that he sees Europe as a hindrance to negotiations. He has also resisted meeting Zelenskyy in person, saying that such a meeting can only take place once the groundwork for a peace deal has been laid.

Speaking to the press after his meeting with Trump, the Russian leader raised the idea that Kyiv and other European capitals could “create obstacles” to derail potential progress with “behind-the-scenes intrigue.” For now, Zelenskyy offers the Europeans the “only way” to get into the discussions about the future of Ukraine and European security, says RUSI's Melvin.

However, the sheer number of European leaders potentially in attendance means the group will have to be “mindful” not to give “contradictory” messages, Melvin said.

“The risk is they look heavy-handed and are ganging up on Trump,” he added. “Trump won't want to be put in a corner.” Although details remain hazy on what Article 5-like security guarantees from the U.S. and Europe would entail for Ukraine, it could mirror NATO membership terms, in which an attack on one member of the alliance is seen as an attack on all.

Zelenskyy continues to stress the importance of both U.S. and European involvement in any negotiations.

“A security guarantee is a strong army. Only Ukraine can provide that. Only Europe can finance this army, and weapons for this army can be provided by our domestic production and European production. But there are certain things that are in short supply and are only available in the United States,” he said at the press conference Sunday alongside Von der Leyen.

Zelenskyy also pushed back against Trump's assertion — which aligned with Putin's preference — that the two sides should negotiate a complete end to the war, rather than first securing a ceasefire. Zelenskyy said a ceasefire would provide breathing room to review Putin's demands.

“It's impossible to do this under the pressure of weapons,” he said. “Putin does not want to stop the killing, but he must do it.” — Leicester reported from Le Pecq, France. Associated Press writers Pan Pylas in London, and Katie Marie Davies in Manchester, England, contributed to this report. (AP) HIG HIG

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