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August 11, 2026
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Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
August 10, 2026
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MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
August 10, 2026
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Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
August 10, 2026
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Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
August 10, 2026
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Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
August 10, 2026
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Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
August 10, 2026
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Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
August 10, 2026
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Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
August 10, 2026
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Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
August 10, 2026
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Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
August 10, 2026
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GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
August 10, 2026
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Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
August 10, 2026
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Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
August 10, 2026
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Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
August 10, 2026
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Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.

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Customs & Trade

India–US Relations in Focus at the Inaugural Seminar of Motwani Jadeja Institute for American Studies

September 1, 2025

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New Delhi, 1 September 2025: “Today, we need a sense of strategic patience. India needs to be firm that we’re not going to yield to demands, but remain open to negotiations. It’s important to understand the sources of change within the United States,” said renowned author, thinker, and foreign policy expert Professor (Dr.) C. Raja Mohan at the inaugural seminar of the Motwani Jadeja Institute for American Studies (MJIAS). The title of the seminar was “Resetting the US–India Ties Through Dialogue & Diplomacy.” The seminar was held in New Delhi to mark a day of substantive discussion and strategic engagement, commemorating the launch of MJIAS as a credible, non-partisan platform for Indo–US policy dialogue. Professor (Dr.) C. Raja Mohan is also the Distinguished Professor & Senior Fellow Designate, MJIAS.

The United States and India—two of the world’s largest democracies—share a relationship of strategic depth and multifaceted engagement. Cooperation spans defence, technology, education, and people-to-people ties, while challenges in trade and regulation continue to shape this vital partnership.

In his in-depth analysis, Dr. C. Raja Mohan said, “Given the difficult period that India and the US are going through, it is important to have an institute like the Motwani Jadeja Institute of American Studies. Its contribution will really be long term, to scale this relationship and give it intellectual ballast. It is very clear India has not invested enough intellectual capital in understanding the complex politics. We need a deeper appreciation of the long history of the United States, of its persistent political current and its cultural modes. Originally, American populism was against the concentration of wealth, and bouts of anti-dominant capitalist sentiment have always been a part of history. To understand what’s going on in the US today, we need to dig deeper into its history and its culture.” In a wide-ranging discourse, which explored the various phases of the India–US relationship, Dr. Raja Mohan opined, “India saw technological collaborations and a relationship in the 1960s. It’s easy to forget, as the first Indian reactor, the first Indian satellite, the agrarian revolution and the Green Revolution were with American support. Yet, in 1971 there was a whole range of other developments which saw a dramatic collapse of the relationship. Many of those obstacles were overcome in the 2000–2005 period with four successive Prime Ministers—P.V. Narasimha Rao, Atal Bihari Vajpayee, Dr. Manmohan Singh and Shri Narendra Modi—who devoted significant political and diplomatic resources to redo this relationship.” As its inaugural initiative, MJIAS brought together parliamentarians, diplomats, business leaders, and academics to deliberate on strengthening Indo–US relations through dialogue and diplomacy.

Professor (Dr.) C. Raj Kumar, President, MJIAS & Founding Vice Chancellor, JGU, said in his Welcome Address: “We are hosting this seminar at a very important time when there are significant challenges in US–India relations. It is important to go beyond the current scenario. For many of us who have had the opportunity to interact with the United States, it is significant to note that no country in the world is closer to India in terms of our shared beliefs, our shared values, our deep commitment to the rule of law, commitment to democratic institutions, our belief and faith in the possibility of individuals, who, through their hard work and determination, can shape the future of themselves and the destiny of our nations. The India–US relationship is not only one of the most defining relationships of the future, but also an opportunity to essentially shape the future of humankind. The United States is a country which has been the birthplace of so many ideas, and we need to recognize the extraordinary history that both our countries share. The establishment of the Motwani Jadeja Institute of American Studies is an attempt to develop a greater understanding of India in the United States, the complexity of this relationship, and to work towards a better future for India and the United States.” The Special Address and Keynote Address were delivered by Ambassador Mr. Nagaraj Naidu Kakanur, Additional Secretary, Ministry of External Affairs, Government of India, and His Excellency Mr. Jorgan K. Andrews, Chargé d’Affaires, Senior Foreign Service Officer, U.S. Department of State, respectively. Both congratulated JGU for establishing the Motwani Jadeja Institute for American Studies, thanked Ms. Asha Jadeja Motwani for her generous donation, and underlined the important role it could play in promoting and advancing India–US ties.

They lauded O.P. Jindal Global University for its vision in creating a pioneering institution dedicated to American Studies in India, emphasizing that such initiatives enrich academic discourse while also strengthening bilateral understanding. Ambassador Naidu and Mr. Andrews also highlighted how the establishment of the Motwani Jadeja Institute is a testament to the power of philanthropy, commending Ms. Asha Jadeja Motwani for her remarkable contribution that will leave a lasting legacy. They noted that few universities in the region have demonstrated the foresight and commitment that JGU has shown in investing in intellectual capital to advance India–US relations. The presence of the Institute, they observed, not only elevates the stature of JGU globally but also serves as a beacon of how private philanthropy and academic excellence can converge to address pressing international issues.

Professor (Dr.) Mohan Kumar, the Inaugural Director General, MJIAS, said in his Introductory Remarks that there could not be a better time for a discussion on the India–US relationship by the Motwani Jadeja Institute of American Studies. “This is not the first time that the India–US relationship is going through a difficult phase. Such a dialogue is essential to keep the relationship going, which cannot be seen through the prism of a few months or just through trade and tariffs.” The Vote of Thanks was delivered by Professor (Dr.) Swati Chawla, Assistant Director, MJIAS.

The inaugural session also included several panel discussions: • Legislative Bridges & Policy Dialogue in India–US Relations, moderated by Professor (Dr.) Sreeram S. Chaulia, Dean, Jindal School of International Affairs, JGU • Commerce Without Conflict – Perspectives from Business, Trade & Investment Leaders, moderated by Professor Ram B. Ramachandran, Associate Director, MJIAS & Vice Dean, Jindal School of Banking & Finance, JGU • Strategic Symbiosis – Academic and Diplomatic Pathways to Bilateral Harmony, moderated by Professor (Dr.) Sriparna Pathak, Associate Director, MJIAS & Professor, Jindal School of International Affairs, JGU Distinguished participants included: Dr. Sasmit Patra, Member of Parliament, Rajya Sabha; Ambassador Ms. Meera Shankar, Former Indian Ambassador to the United States; Ms. Sharmila Kantha, Principal Consultant, Confederation of Indian Industry; Mr. Shishir Priyadarshi, President, Chintan Research Foundation; Ambassador Mr. Sanjay Kumar Verma, Chairperson, Research and Information System for Developing Countries; Mr. Raman Kalra, Vice President, IBM Consulting; Ambassador Mr. Arun Kumar Singh, Former Indian Ambassador to the United States; Ambassador Mr. Rajiv Bhatia, Distinguished Fellow, Gateway House; Ambassador Ms. Gaitri Issar Kumar, Former Indian Diplomat; and Professor (Dr.) Rajat Kathuria, Dean, School of Humanities and Social Sciences, Shiv Nadar University.

The day-long seminar addressed two vital questions confronting India–US ties today: How did we get here? And Where do we go from here? The general consensus was that the following factors, inter alia, contributed to the current stalemate in bilateral ties: trade and tariffs, Indian purchase of Russian oil, US–Pakistan ties, the personal pique of President Trump vis-à-vis India, and the relative change in US–China ties.

In terms of response, it was felt that India needs to hunker down, demonstrate strategic resilience, diversify export markets, and generally hold the line. It was broadly agreed that the US is an important strategic partner and that the partnership between India and the US, notwithstanding current difficulties, has the potential to be the most consequential for the twenty-first century.

O.P. Jindal Global University (JGU) has been the proud recipient of a landmark endowment of US$5 million from Ms. Asha Jadeja Motwani and the Motwani Jadeja Family Foundation. This visionary gift is one of the largest philanthropic contributions to JGU and among the most significant investments in American Studies in India. The Institute is named in honour of the late Professor Rajeev Motwani, a legendary Stanford University computer scientist, whose mentorship helped shape the journeys of the founders of Google and countless other innovators.

(Disclaimer: The above press release comes to you under an arrangement with O.P. Jindal Global University and PTI takes no editorial responsibility for the same.). PTI PWR

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