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    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
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    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
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    MNLU Mumbai Launches MBA in Entrepreneurship & Digital Business Law
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    Govt hikes windfall gains tax on petrol, diesel, ATF exports
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    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
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    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
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    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
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    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
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    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
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    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
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    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
    Show AI Summary
    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
    Show AI Summary
    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
    Show AI Summary
    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
    Show AI Summary
    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.
    August 3, 2026
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    Windfall gains tax on petroleum exports increases to discourage exports and preserve domestic fuel availability during regional supply disruptions.
    Special additional excise duty on exports of petrol, diesel and aviation turbine fuel has been increased for the relevant fortnightly period, while existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall gains tax is intended to preserve domestic availability of petroleum products during the West Asia crisis and prevent exporters from benefiting unduly from price differences linked to elevated global crude oil prices.
    August 3, 2026
    Show AI Summary
    Online Astrology Platform Regulation: consumer department reported no guidelines, while information requests required revised factual disclosures.
    Online astrology platforms were reported as lacking specific regulatory guidelines within the consumer affairs department. The RTI application sought information on alleged unfair trade practices, investigations, complaints, licences, approvals, and applicable rules. The National Consumer Helpline stated that it had not investigated because it functions as a grievance-resolution platform. A revised factual response was required on investigations and complaint data, while queries concerning regulation, licences, approvals, and related investigations were to be transferred to the public authorities likely to hold that information.
    August 3, 2026
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    Business combination disclosure outlines shareholder approval, registration requirements, financing conditions, and forward-looking risks for the proposed public listing.
    The proposed business combination would take Yellow.ai public through a definitive agreement with Bluerock Acquisition Corp., subject to customary closing conditions and shareholder approval. Bluerock intends to file a Form S-4 registration statement containing a proxy statement/prospectus for proxy solicitation and securities issuance in connection with the transaction. The communication is not an offer or solicitation and states that no securities offering may occur without compliance with applicable registration, qualification or exemption requirements. Transaction projections and anticipated benefits are forward-looking statements subject to material risks and uncertainties.
    August 3, 2026
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    Bilateral investment and trade facilitation drive proposed co-investment, digital cooperation and advanced manufacturing partnerships between Indian and Uzbek businesses.
    India-Uzbekistan cooperation is proposed through co-investment, co-manufacturing and co-innovation, supported by the Bilateral Investment Treaty to promote investor confidence and reciprocal investment. Priority sectors include mining, textiles, healthcare, agriculture, food processing, digital technologies and advanced manufacturing. Trade facilitation measures include reducing trade barriers, mutual recognition of standards, approvals, testing and certification, customs digitalisation and improved trade routes. Regulators and standard-setting bodies are expected to cooperate under a structured, time-bound economic partnership.

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      No overcrowding or solitary confinement: MHA assures Belgium on jail facilities if Choksi extradited

      September 8, 2025

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      New Delhi, Sep 8 (PTI) Absconding diamantaire Mehul Choksi, if extradited from Belgium, will be housed in Barrack Number 12 at the Arthur Road jail in Mumbai. With this arrangement, there would be no chance of overcrowding or solitary confinement, as at least one more economic offender is expected to be housed in his cell.

      The Union Home Ministry informed the Belgian authorities through a September 4 communiqué that the personal living space for each inmate in Barack number 12 of the prison is in line with and fully meets the minimum space requirement of the Committee for the Prevention of Torture and Inhuman or Degrading Treatment or Punishment (CPT) of Europe.

      Choksi was arrested in Belgium in April based on an extradition request from the CBI. He is wanted in the Rs 13,000 crore bank fraud case in Punjab National Bank, which he allegedly orchestrated along with his nephew Nirav Modi.

      Choksi (66) had fled to Antigua and Barbuda, where he had taken citizenship months before the scam became public.

      After he was stopped in Belgium, the CBI, the External Affairs Ministry, and the Home Ministry swung into action to get him extradited to India to face the law.

      The home ministry's letter to the Belgian authorities is based on details received from the Maharashtra Prison Department about the arrangements to house Choksi in the event of his extradition, and aims to convince them that the prison arrangements meet European standards.

      It has sent these details to the authorities in Antwerp, where arguments for his extradition are likely to start in court soon. Such assurances are standard while seeking extradition from abroad.

      In the letter, MHA Joint Secretary Rakesh Kumar Pandey stated that the argument of overcrowding cannot be made in relation to the Arthur Road jail's barrack number 12.

      There are no prisoners in cells one and two of the barrack presently, and the minimum requirement of three square meters per person is "adequately provided", it said.

      "Mehul Choksi will not be held in conditions that amount to solitary confinement. Choksi would be held in his cell inside Barrack number 12 of Arthur Road prison with at least one more prisoner (accused of economic offences or white collar crime with whom he would share a common language)," it said.

      The cell in which Choksi will be detained is approximately 20 feet by 15 feet and has a separate toilet and washroom, the MHA letter said.

      It detailed that the ceiling is approximately 15 feet in height, with three windows, five upper ventilators, and a grilled main door, which provides sufficient air circulation.

      The MHA letter to Belgian authorities said there is a "high level of security" provided at the entrance of the barrack with several CCTVs, a prison officer and a prison guard on duty round the clock.

      "Barrack No. 12 is separate from the general prison complex and hence there is no question of overcrowding, violence and extortion in Barrack No. 12. Inmates in the Arthur Road prison complex are segregated according to age, type of crime, and their special needs, if any, such as physical disability, medical requirements, etc," it said.

      Violent and habitual prisoners are kept in separate high-security cells.

      The letter assured the Belgian authorities that Choksi would be provided a clean, thick cotton mat, pillow, bed sheet, and blanket in the cell, which would be swept and mopped daily, and rubbish would be cleared twice daily.

      There would be no air conditioning or heating, as there is no such requirement in Mumbai's tropical climate.

      "The cells in Barrack number 12 have three grilled windows and one grilled door facing the passage, which is directly in front of the living areas of the cell.

      "This passage receives natural light throughout the day...There are three ceiling fans in each of the living space areas and three ceiling fans in the hallway/passage area directly in front of the living space area," the letter said.

      Listing out other facilities like flush toilets attached in the cell, daily supply of fresh drinking water, outdoor exercises, rest areas, board games such as chess, carrom, and badminton, the prison department said Art of Living Yoga Sessions are also provided to the inmates of the Barrack, which also has a 15-feet-by-40-feet "open to sky" yard.

      It stated that, apart from daily newspapers in English and local languages, terrestrial TV channels, video conferencing facilities, and telemedicine services are also available in the barracks.

      Meeting with blood relatives is permitted once a week, and lawyer meetings are allowed daily, the letter stated.

      The prison authorities stated that round-the-clock medical facilities are available, and they include a separate prison hospital, six medical officers, regular visits by external medical consultants, and an in-house ambulance. Choksi would be sent for regular specialist consultations at the government hospital if such a need arises.

      In the event of an emergency, he will be transferred to the JJ Group of Hospitals, and regular visits from specialist consultant doctors will be scheduled on a weekly basis, the MHA letter stated.

      "If any medical reports of Mehul Choksi are shared with the Government of India before or at the time of his extradition, they will be considered by the medical and prison authorities in India. His travel to India will be arranged with his medical condition in mind," it said.

      The letter also said that the government has given an assurance that Choksi will also have the choice of receiving treatment from a private doctor or mental health expert of his choice in prison or over video link, as and when required and paid for by him.

      "If, on medical advice, he requires treatment in hospital, he can be moved to JJ Hospital, or if so advised by JJ Hospital, to any other medical facility, if required.

      "Appropriate arrangements would be made for his security. He would be allowed to use his funds available with him or the funds of his family or friends for this purpose", the MHA letter said. PTI ABS NSD NSD

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