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    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
    Delhi govt to provide property Aadhaar cards; bring Land Records Bill: CM Rekha Gupta
    CCS discusses global security situation, supply chain constraints
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    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
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    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
    Show AI Summary
    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
    Show AI Summary
    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
    Show AI Summary
    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
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    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
    July 30, 2026
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    Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
    The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
    July 30, 2026
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    Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
    Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.

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      Homeland security official says 475 people were detained during an immigration raid in Georgia

      September 6, 2025

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      Ellabell (US), Sep 6 (AP) Immigration authorities said Friday they detained 475 people, most of them South Korean nationals, when hundreds of federal agents raided the sprawling manufacturing site in Georgia where Korean automaker Hyundai makes electric vehicles.

      Steven Schrank, the lead Georgia agent of Homeland Security Investigations, said during a news conference Friday that the raid resulted from a monthslong investigation into allegations of illegal hiring at the site and was the “largest single site enforcement operation” in the agency's two-decade history.

      The Thursday raid targeted one of Georgia's largest and most high-profile manufacturing sites, where Hyundai Motor Group a year ago began manufacturing electric vehicles at a USD 7.6 billion plant.

      The site employs about 1,200 people in an area about 40 kilometres west of Savannah where bedroom communities bleed into farms. Gov Brian Kemp and other officials have touted it as the state's largest economic development project.

      Agents focused their operation on an adjacent plant that is still under construction at which Hyundai has partnered with LG Energy Solution to produce batteries that power EVs.

      Court records filed this week indicated that prosecutors do not know who hired what it called “hundreds of illegal aliens.” The identity of the “actual company or contractor hiring the illegal aliens is currently unknown,” the US Attorney's Office wrote in a Thursday court filing.

      'South Korean government expresses concern' The South Korean government expressed “concern and regret” over the operation targeting its citizens.

      Koreans are rarely caught up in immigration enforcement compared to other nationalities. Only 46 Koreans were deported during the 12-month period that ended September 30, 2024 out of more than 2,70,000 removals for all nationalities, according to Immigration and Customs Enforcement (ICE).

      “The business activities of our investors and the rights of our nationals must not be unjustly infringed in the process of US law enforcement,” South Korean Foreign Ministry spokesperson Lee Jaewoong said in a televised statement from Seoul.

      Lee said the ministry is dispatching diplomats from its embassy in Washington and consulate in Atlanta to the site, and planning to form an on-site response team.

      Immigration attorney Charles Kuck said two of his clients who were detained had arrived from South Korea under a visa waiver programme that enables them to travel for tourism or business for stays of 90 days or less without obtaining a visa.

      One of his clients, he said, has been in the US for a couple of weeks, while the other has been in the country for about 45 days. He did not provide details about the kind of work they were doing but said they had been planning to go home soon.

      Schrank told reporters in Savannah that while some of the detained workers illegally crossed the US border, others had entered the country legally but had expired visas or had entered on a visa waiver that prohibited them from working.

      He said some of those detained worked for the battery manufacturer, while others were employed by contractors and subcontractors at the construction site.

      Schrank said he didn't know precisely how many of the 475 detained were Korean nationals, but that they made up a majority. No one has yet been charged with any crimes, he said, but the investigation is ongoing.

      South Korea's Foreign Minister Cho Hyun said Saturday that more than 300 South Koreans were among the 475 people detained.

      “This was not an immigration operation where agents went into the premises, rounded up folks, and put them on buses,” Schrank said. “This has been a multimonth criminal investigation where we have developed evidence and conducted interviews, gathered documents and presented that evidence to the court in order to obtain a judicial search warrant.” He said most of the detainees were taken to an immigration detention centre in Folkston, Georgia, near the Florida state line.

      Trump administration has undertaken sweeping ICE operations President Donald Trump's administration has undertaken sweeping ICE operations as part of a mass deportation agenda. Immigration officers have raided farms, construction sites, restaurants and auto repair shops.

      The Pew Research Centre, citing preliminary Census Bureau data, says the US labour force lost more than 1.2 million immigrants from January through July. That includes people who are in the country illegally as well as legal residents.

      The Democratic Party of Georgia on Friday condemned the raid, with its chair, Charlie Bailey, calling the raids, “politically-motivated fear tactics designed to terrorise people who work hard for a living, power our economy and contribute to the communities across Georgia that they have made their homes." Kemp and other Georgia Republican officials, who had courted Hyundai and celebrated the EV plant's opening, issued statements Friday saying all employers in the state were expected to follow the law.

      The Hyundai site sits on 3,000 acres (1,214 hectares) in a largely rural area of Bryan County, drawing in workers from several surrounding counties and communities including Savannah.

      Sammie Rentz opened the Viet Huong Supermarket less than 4.8 kilometres from the Hyundai site six months ago. The store sells both American and Asian products, he said, but he mostly relies on Hyundai workers seeking foods imported from Korea.

      “Koreans keep this store running,” said Rentz, who worries business may not bounce back after falling off sharply since the raid. “I'm concerned. Koreans are very proud people, and I bet they're not appreciating what just happened. I'm worried about them cutting and running, or starting an exit strategy.” Ellabell resident Tanya Cox, who lives less than a mile from the Hyundai site, said she had no ill feelings toward Korean nationals or other immigrant workers at the site. But few neighbours were employed there, and she felt like more construction jobs at the battery plant should have gone to local residents.

      “I don't see how it's brought a lot of jobs to our community or nearby communities,” Cox said. “Where we used to hear birds chirping and animal life around here, now we hear the plant when it's fully going at night.” Hyundai began producing electric vehicles at the site last September. A few months later, Hyundai Motor Group Executive Chairman Euisun Chung during a White House appearance with Trump credited the president with the company's decision to create more American jobs by building an EV factory in Georgia.

      “Our decision to invest in Savannah, Georgia, creating more than 8,500 American jobs, was initiated during my meeting with President Trump in Seoul in 2019,” Chung said at the March event.

      Battery plant slated to open next year The battery plant operated by HL-GA Battery Co, a joint venture by Hyundai and LG Energy Solution, is slated to open next year.

      In a search warrant and related affidavits, agents said they wanted employment records for current and former workers; personnel files; payroll information; bank account information; timecards; video and photos of workers; and immigration documents.

      Social Security cards, visas, passports and birth certificates also were targeted. The agents also sought records about the ownership and management of multiple construction companies and contractors named in the search warrant materials.

      The documents included the names and photos of four people identified as “target persons” to be searched, without further information about them.

      In a statement to The Associated Press, LG said it was “closely monitoring the situation and gathering all relevant details.” It said it couldn't immediately confirm how many of its employees or Hyundai workers had been detained.

      Operations at Hyundai's EV manufacturing plant weren't interrupted by the raid, said plant spokesperson Bianca Johnson.

      Hyundai Motor Company said in a statement Friday that none of its employees had been detained as far as it knew. The company said it would review its practices to make sure suppliers and subcontractors follow US employment laws.

      “Hyundai has zero tolerance for those who don't follow the law,” the company's statement said.

      HL-GA Battery Co did not immediately respond to a request for comment Friday.

      In a statement Thursday, the company said it's “cooperating fully with the appropriate authorities.” Those arrested Thursday who fight deportation may be detained as their cases wind through immigration court. The number of people in ICE custody topped 60,000 in August, an all-time high. (AP) NPK NPK

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