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    Finacle 10.2.25 software will make banking services faster and more transparent: Himachal CM
    Return of foreign investments shows revival of confidence in economy: RBI Bulletin
    India-US trade deal is almost complete: US State Department after Jaishankar-Rubio talks in Manila
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    Parliamentary joint committee on corporate laws amendment bill gets more time to submit report
    Archies Online Launches Pan-India Same-Day Cake, Flower & Gift Delivery Service
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    US to impose steep tariffs on generic medicine imports from Aug 2028
    Asian shares edge higher after Wall Street climb, even as Brent oil keeps rising
    Rupee falls 11 paise to 96.36 against US dollar in early trade
    India Reaffirms Commitment to Rules-Based Multilateral Trading System at WTO Trade Policy Review in Geneva
    Government's Financial Inclusion Mission Continues to Foster Economic Empowerment Through Universal Banking, Social Security and Credit Access
    Tribunal absolves Lalit Modi of FEMA violation in 2009 South Africa IPL event
    NABARD sanctions Rs 15,056 cr for 6,175 rural infrastructure projects in Haryana
    SUPREME COURT HIGHLIGHTS
    Government and RBI Strengthen Digital Lending Ecosystem Through New Regulatory Framework, Digital Lending App Directory and Enhanced Customer Safeguar...
    A First for India: EbixCash World Money's Perpetual RBI Licence Brings Trade and Family Remittances Within Reach of Millions - Unlocking Opportunities...
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    July 22, 2026
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    Core banking migration supports faster transactions, stronger cyber security, transparent services and more convenient digital banking for customers.
    Migration of the cooperative bank's core banking system to the Finacle 10.2.25 platform is intended to enable faster, more transparent and secure banking services. The platform is expected to support customer-friendly transactions, stronger cyber security, convenient digital banking and improved operational efficiency. It may also strengthen the bank's delivery of financial benefits under government welfare schemes.
    July 22, 2026
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    Foreign investment recovery signals improved economic confidence amid sustained trade momentum and renewed food- and fuel-led inflation pressures.
    Foreign investment recovery, external trade momentum and inflation developments are examined amid geopolitical and supply-chain uncertainty. Strong export and import growth, the operationalisation of the India-UK Comprehensive Economic and Trade Agreement, renewed portfolio inflows and higher foreign direct investment were identified as supporting external-sector confidence. Consumer price inflation increased, led by food and fuel, while core inflation remained unchanged. Food-price pressures continued across staples, edible oils and vegetables, although comfortable foodgrain stocks could mitigate food-inflation effects.
    July 22, 2026
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    Interim trade deal negotiations near completion as bilateral discussions advance tariffs, defence agreements, strategic cooperation, and regional security.
    India-US bilateral engagement focused on advancing an interim trade arrangement reported to be nearing completion, alongside discussions on tariffs, energy, defence and security, critical minerals, and artificial intelligence. The talks included a shared interest in finalising the interim trade deal and completing unspecified defence agreements connected with prior bilateral commitments. Regional security, West Asia, the Indo-Pacific, and Quad cooperation were also discussed amid efforts to restore bilateral relations following trade, immigration, and security-related strains.
    July 22, 2026
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    Bail cancellation requires harm to criminal justice administration, not merely a legally flawed order granting liberty.
    Bail cancellation must turn on whether continued liberty obstructs the administration of criminal justice, not solely on legal error in the order granting bail. A deficient bail order, without more, does not justify revoking liberty. Challenges to bail orders should not displace the objective of timely trials and securing convictions. Although erroneous legal principles may require correction for consistency, they may not alone warrant cancellation of bail. Broader questions concerning the governing cancellation standard remain open.
    July 22, 2026
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    Corporate law amendments face extended parliamentary review of proposals on compliance decriminalisation, ease of doing business, and governance modernisation.
    Parliament extended the Joint Parliamentary Committee's reporting deadline on the proposed Corporate Laws (Amendment) Bill, 2026 until the end of the Monsoon Session. The Committee is examining amendments to the Limited Liability Partnership Act, 2008 and the Companies Act intended to facilitate ease of doing business, decriminalise minor procedural defaults, and modernise the corporate governance framework.
    July 22, 2026
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    Same-day gifting delivery expands access to cakes, flowers and curated gifts through an integrated pan-India online platform.
    Archies Online has introduced a pan-India same-day delivery service for cakes, flowers, gifts and hampers across major cities. Its integrated online platform offers greeting cards, personalised gifts, chocolates, soft toys and curated hampers for personal, professional and festive occasions. Same-day options include Rakhi and Friendship Day collections, supported by product curation, fresh sourcing and a delivery network intended to provide timely and dependable gifting services.
    July 22, 2026
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    Mephedrone trafficking enforcement uncovered a clandestine laboratory, controlled precursors, alleged drug proceeds and an intended receiver.
    Illicit manufacture and trafficking of Mephedrone, a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, 1985, were addressed through an intelligence-led operation involving a clandestine laboratory. Manufacturing equipment, Mephedrone, its controlled precursor, Monomethylamine, and other chemicals used in manufacture were seized under the Act. Cash believed to be drug-trafficking proceeds and a further amount intended as token payment for delivery were recovered. Three persons were arrested in connection with the alleged network.
    July 22, 2026
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    Bail parity in liquor-scam proceedings sustained where principal accused had bail; adverse investigative remarks were removed.
    Bail in the alleged liquor-scam proceedings was sustained on the basis of parity, the applicant's comparatively lesser alleged role, prolonged custody, and the documentary nature of the investigation. The evidentiary value of statements, financial records and digital material was regarded as an issue for trial rather than conclusive assessment at the bail stage. Adverse observations against the state economic-offence investigation were expunged.
    July 22, 2026
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    Generic medicine import tariffs are designed to encourage domestic pharmaceutical manufacturing while preserving policy for patented, branded and innovative drugs.
    Generic medicine imports into the United States are proposed to remain duty-free for two years, followed by escalating tariffs. The structure is intended to encourage pharmaceutical companies to establish manufacturing plants and equipment in the United States, with higher duties applying where companies do not do so within the stated period. The policy is confined to generic drugs, while the approach for patented, branded and innovative medicines is stated to remain unchanged.
    July 22, 2026
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    Oil-driven inflation pressures may prompt higher interest rates, despite equity gains led by artificial-intelligence and semiconductor shares.
    Asian equity markets largely rose following Wall Street gains led by artificial-intelligence and semiconductor shares. Rising crude oil prices are identified as a renewed inflation risk that could encourage central banks to raise interest rates, slowing economic activity and affecting equity valuations. Japan's reliance on imported energy and the effects of a weaker yen on trade values and energy costs are also highlighted.
    July 22, 2026
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    Foreign exchange market volatility pressures the rupee as oil-linked geopolitical risks boost safe-haven dollar demand and prompt market monitoring.
    Foreign exchange market movement saw the rupee depreciate against the US dollar amid higher crude oil prices, geopolitical tensions affecting oil-shipment security, and safe-haven demand for the dollar. RBI measures intended to attract overseas deposits were reported to support market confidence through foreign-currency inflows. Dealers were monitoring possible RBI participation through state-owned banks to moderate currency volatility while permitting gradual exchange-rate adjustment and preventing disorderly market movements.
    July 22, 2026
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    Rules-based multilateral trade engagement guides India's policy review, highlighting digital reforms, trade facilitation and clarification of market measures.
    India's WTO Trade Policy Review reaffirms commitment to a transparent, rules-based, inclusive and development-oriented multilateral trading system. It identifies reforms in trade facilitation, digital customs, logistics modernisation, quality infrastructure, Digital Public Infrastructure, innovation, sustainability, agricultural resilience and regional trade agreements. WTO Members recognised India's economic resilience and customs and digital modernisation, while seeking clarification on trade and investment regimes, Quality Control Orders, trade-remedy measures and WTO reforms.
    July 22, 2026
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    Financial inclusion expands universal banking, social insurance, pensions and collateral-free credit for underserved households and entrepreneurs.
    Financial inclusion is pursued through universal banking under Pradhan Mantri Jan Dhan Yojana, social-security coverage through life, accident and pension schemes, and credit access for underserved borrowers. Pradhan Mantri Mudra Yojana provides collateral-free institutional finance to micro and small business units for income-generating activities. The Stand-Up India Scheme supports Scheduled Caste, Scheduled Tribe and women entrepreneurs through loans for greenfield projects in manufacturing, trading, services and agriculture-allied activities.
    July 21, 2026
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    Foreign exchange contravention liability requires evidence that the person was responsible for the overseas transfer in question.
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    Supreme Court proceedings address juvenile adult trials, insolvency, electoral representation, environmental funds and foreign-exchange complaint requirements.
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    Authorised Dealer Category-II remittances expand to specified trade and family-maintenance payments under the revised FEMA framework.
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      Deficit in democracy; Constitution under challenge: Opposition's VP pick B Sudershan Reddy

      August 23, 2025

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      New Delhi, Aug 23 (PTI) Opposition vice presidential candidate B Sudershan Reddy on Saturday said there is a "deficit in democracy" in the country and the Constitution is "under challenge" as he pledged to defend and protect it.

      In a wide-ranging exclusive interview with PTI, Reddy dwelt on a range of issues -- from how his candidature came about, the debate on the words 'socialist' and 'secular' in the Preamble to the Constitution and to Union Home Minister Amit Shah's accusation that he supported Naxalism.

      Calling himself a liberal constitutional democrat, the Opposition's nominee for the vice presidential election said he does not subscribe to the RSS ideology and he is far away from it.

      He said disruptions in Parliament were essential in a democracy, but cautioned that they must not become an integral part of the democratic process.

      Reddy also sought to downplay the debate on the vice presidential election emerging as a "South versus South" contest, saying both he and NDA nominee C P Radhakrishnan were citizens of one country but lamented that the country's "polity stands fractured", leading to this contest.

      He talked about bringing back all black money stashed abroad, asserting that the nation's wealth must come back and said it was "work still in progress".

      The former Supreme Court judge said earlier there was a talk of "deficit economy", but now there is a "deficit in democracy", and claimed that though India continues to be a constitutional democracy, it is "under strain".

      He, however, welcomed the debate on whether the Constitution is under attack.

      Reddy said democracy is less about a clash between individuals and more about a clash between ideas, and wished ties between the government and the Opposition were better.

      A former chief justice of the Gauhati High Court, the Opposition's vice presidential nominee said his "journey of upholding the Constitution continues, ultimately culminating in, if given an opportunity, to protect and defend the Constitution".

      "All through my life, I was upholding the Constitution. If you give me an opportunity to serve this country, I will try to defend and protect the Constitution of India, which undoubtedly is coming under challenge. The message is, there is still the possibility of a reasonably good and healthy debate amongst ourselves in this country," he said.

      Reddy said he upheld the Constitution primarily as a judge in the past. "So, this journey is nothing new to me," he said.

      His unanimous candidature by the Opposition was a matter of honour for him, he said.

      "First, it represents diversity. Secondly, the unanimous choice. Thirdly, in terms of voting strength, if you make an analysis, they represent more than 63-64 per cent of the population. What else could be an honour," he said.

      On the argument that top constitutional posts should be filled by consensus reflecting national unity, he said, "I wish there could have been a consensus. But you know, the polity as it stands is a fractured one. In the circumstances, perhaps it is inevitable, leading to this contest." Reddy talked stressed that democracy in India is under strain.

      "Earlier, we used to talk about a deficit economy, (now) there is a deficit in democracy. I do not say that India is no longer a democratic country. I don't subscribe to that. We still continue to be a constitutional democracy, but under strain," he said.

      Explaining his point, he noted that earlier, the treasury and opposition benches used to coordinate on many national issues. "Unfortunately, we don't find that today," he said.

      The VP election is not a contest between him and Radhakrishnan, but a contest representing "two different ideologies".

      "... Here is a person, a quintessential RSS man... So far as I am concerned, I do not subscribe to that ideology and I am far, far, far, far away from it. I am essentially a liberal constitutional democrat. This is the area or rather the arena for the contest where the fight goes on," he said.

      Reddy also talked about the disruption of Parliament's business. Both Houses of Parliament witnessed an extraordinary ruckus for a major part of the recently finished Monsoon session.

      He quoted former BJP leader Arun Jaitley, who said "disruption also is a legitimate political activity and a parliamentary practice" to champion disruption as a form of dissent.

      "Disruption is nothing but one form of dissent. If you are not allowed to speak or express your views, this is one form of speaking. That's how I look at the disruption. Not that I wish that disruption should become an essential and an integral part of democratic process," Reddy said.

      On Amit Shah's attack on him over the Salwa Judum verdict, Reddy said, "I do not wish to join an issue directly with the Honourable Home Minister of India, whose constitutional duty and obligation is to protect the life, liberty and property of every citizen, irrespective of ideological differences. Secondly, I have authored the judgment. The judgment is not mine, the judgment is of the Supreme Court." In December 2011, Reddy, as a judge of the Supreme Court, ruled that using tribal youths as Special Police Officers -- whether called 'Koya Commandos' or Salwa Judum -- in the fight against Maoist insurgents was illegal and unconstitutional and ordered that they be immediately disarmed.

      He wished Shah read the judgment, which runs up to 40 pages. "If he had read the judgment, perhaps he would not have made that comment. That's all I say and leave it there... There must be decency in the debate," he asserted.

      He also threw his weight behind the caste survey, saying one has to first find out the percentage of those who need to be succoured and policies framed accordingly to empower them.

      Reddy headed the expert panel which conducted the survey and revealed that 84.6% of the population in Telangana belonged to the backward classes.

      "The Constitution doesn't speak about caste. If you have to classify a group together with some people as the backward classes, you have to find out their caste, their socio-economic conditions, their way of living, their access to power and the way they are recognised by the society. Caste survey has to be done," he said, adding that the Government of India has now included it in the Census.

      According to Reddy, the Constitution is an integral one and it means conventions and morality.

      "There are various steps taken by the government in power, making one feel legitimately that it is coming under challenge," he said, welcoming the debate that the Constitution is under attack and saying all should participate in it and express their opinion.

      On the controversy over the inclusion of 'socialist', 'secular' in the Preamble, he said, according to him, the expressions have made things explicit, which is otherwise in-built in the provisions of the Constitution.

      "Both the words which are made explicit, the ideas contained in the Constitution are welcome. It is true that the amendment came, that is 42nd Amendment, when the Emergency was invoked.

      "But, one must remember, the Jana Sangh which formed the government later, unanimously approved it. Therefore, one fails to understand with what intention that debate is being triggered," he said.

      On different narratives on Mahatma Gandhi, Jawaharlal Nehru and BR Ambedkar, Reddy said if you read the three superficially, some misconceptions and misunderstandings come to mind.

      "Quintessentially, all three of them were great democrats, republicans and (they) believed in the ethics and morals of the Constitution. I do not think it would be in the interest of the nation to divide them into three segments. And one supporting and the other opposing and creating a false narrative is not in the nation's interest," he stressed. PTI SKC KSS KSS

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