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    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
    Over 745 gram gold paste seized at IGI; Customs nab carrier, receiver
    Quebec remains cautious on Canada-US trade deal as Ottawa pushes to restore US alcohol
    No cases of foreigners getting Aadhaar, other govt benefits reported during SIR in K'taka: Minister
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
    DPIIT Signs MoUs with PhonePe and Shell India to Strengthen Startup Ecosystem and Drive Innovation
    Union Minister of Commerce and Industry Shri Piyush Goyal Strengthens India-Singapore Economic Partnership through High-Level Bilateral and Business E...
    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
    Razorpay Launches Multi-Currency Account, Helping Exporters Retain International Earnings in Foreign Currencies
    DB HiTek to Make Debut at electronica India 2026, Targeting Growth in Indian Market
    BJP demands Vijayan’s resignation from Keralam LoP post over ED findings in CMRL case
    Pakistan seeks USD 10 bn US facility to bolster forex stability
    DRI busts a wildlife trafficking syndicate involved in illicit trade of ivory artefacts
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    Five held in UP's Bareilly for alleged fake Ayushman cards racket
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August 21, 2026
Show AI Summary
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
Show AI Summary
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
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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
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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
Show AI Summary
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
Show AI Summary
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.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.

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Customs & Trade

Worst drought in decades threatening Syria's fragile recovery from years of civil war

September 4, 2025

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Damascus, Sep 4 (AP) The worst drought in decades is gripping much of the Eastern Mediterranean and Middle East, drying out rivers and lakes, shrivelling crops and leading to days-long tap water cutoffs in major cities.

The situation is particularly dire in Syria, where experts say rainfall has been declining for decades and where the fledgling government is trying to stitch the country back together following a 14-year civil war that left millions impoverished and reliant on foreign aid.

Small-farmer Mansour Mahmoud al-Khatib said that during the war, he couldn't reach his fields in the Damascus suburb of Sayyida Zeinab some days because militants from the Lebanese Hezbollah militia allied with then-President Bashar Assad would block the roads. That problem vanished when Hezbollah withdrew after Assad fell in a December rebel offensive, but the drought has devastated his farm, drying up the wells that irrigate it.

“The land is missing the water,” al-Khatib told The Associated Press recently as he watched workers feed the wheat he did manage to harvest into a threshing machine. “This season is weak — you could call it half a season. Some years are better and some years are worse, but this year is harsh.” In a good year, his land could produce as much as 800 to 900 kilograms of wheat per dunam, an area equal to 0.1 hectares and 0.25 acres. This year, it yielded about a quarter that much, he said. He hired only six or seven workers this harvest season instead of last year's 15.

Syria's withering crops Because the drought followed a prolonged war, farmers who were already financially stretched have had little ability to cope with its effects, said Jalal Al Hamoud, national food security officer for the UN's Food and Agriculture Organisation in Syria.

Before the uprising-turned-civil war that began in 2011, Syrian farmers produced an average of 3.5 million to 4.5 million tons of wheat per year, which was enough to meet the country's domestic needs, according to Saeed Ibrahim, director of agricultural planning and economics in Syria's Agriculture Ministry.

That annual yield dropped to 2.2 million to 2.6 million tons during the war, and in recent years, the government has had to import 60 per cent to 70 per cent of its wheat to feed its roughly 23 million people. This year's harvest is expected to yield only 1 million tons, forcing the country to spend even more of its strained resources on imports.

Mudar Dayoub, a spokesperson for Syria's Ministry of Internal Trade and Consumer Protection, said this year's wheat crop will only last for two or three months and that the government is "currently relying on signing contracts to import wheat from abroad” and on donations, including from neighbouring Iraq.

But in a country where the World Food Program estimates that half the population is food-insecure, Ibrahim warned that “total reliance on imports and aid threatens food security” and is “unsustainable.” The drought isn't the only major issue facing Syria, where postwar reconstruction is projected to cost hundreds of billions of dollars. Since Assad fled, the country has been rattled by outbreaks of sectarian violence, and there's growing doubt about whether the new authorities will be able to hold it together. Without jobs or stability, millions of refugees who fled during the war are unlikely to come home.

Interconnected crises A dam on the Litani River in neighbouring Lebanon's fertile Bekaa Valley forms Lake Qaraoun, a reservoir that spans about 12 square kilometres.

Over the years, climate change has led to a gradual decline in the water flowing into the reservoir, said Sami Alawieh, head of the Litani River National Authority.

This summer, after an unusually dry winter left Lebanon without the water reserves it usually banks through snow and rainfall, it has shrunk to the size of a pond, surrounded by a vast expanse of parched land.

Although an average of 350 million cubic metres of water flows into the lake during the rainy season each year, meeting about one-third of Lebanon's annual demand, this year the incoming water didn't exceed 45 million cubic metres, he said.

Lebanon's water woes have further exacerbated the drought in Syria, which partially relies on rivers flowing in from its western neighbour.

The largest of those is the Orontes, also known as the Assi. In Syria's Idlib province, the river is an important source of irrigation water, and fishermen make their living from its banks. This year, dead fish littered the dried-out river bed.

“This is the first time it's happened that there was no water at all,” said Dureid Haj Salah, a farmer in Idlib's Jisour al-Shugour. Many farmers can't afford to dig wells for irrigation, and the drought destroyed not only summer vegetable crops but decades-old trees in orchards, he said.

“There is no compensation for the loss of crops," Haj Salah said. "And you know the farmers make just enough to get by." Mostafa Summaq, director of water resources in Idlib province, said the groundwater dropped by more than 10 metres in three months in some monitoring wells, which he attributed to farmers overpumping due to a lack of rain. Local officials are considering installing metered irrigation systems, but it would be too expensive to do so without assistance, he said.

A drier climate Most experts agree that Syria and the broader region appear headed toward worse climate shocks, which they aren't prepared to absorb.

Climate change makes some regions wetter and others drier, and the Middle East and Mediterranean are among those that are drying out, said Matti Kummu, a professor at Aalto University in Finland who specialises in global food and water issues. Syria, specifically, has shown a trend of reduced rainfall over the past 40 years, while it has been using water at an unsustainable rate.

“There's not enough water from rainfall or from snowmelt in the mountains to recharge the groundwater,” Kummu said. Due to increasing irrigation needs, he said, "the groundwater table is going lower and lower, which means that it's less accessible and requires more energy (to pump)." At some point, the groundwater might run out.

Even with limited means, the country could take measures to mitigate the impacts, such as increased rainwater harvesting, switching to more drought-tolerant crops and trying to put more effective irrigation systems in place, even simple ones.

But “in the long term, if the situation in terms of the climate change impacts continues" as currently projected, how much of the croplands will be arable in the coming decades is an open question, Kummu said. (AP) SKS RD RD

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