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    Naresh Goyal seeks discharge from money laundering case; court asks prosecution to reply to plea
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    TCS receives employee data leak alerts; says no impact to customer info
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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
Show AI Summary
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.
August 10, 2026
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Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
August 10, 2026
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Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
August 10, 2026
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GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
August 10, 2026
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Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.

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Customs & Trade

India and US 'not that far apart' on trade deal: US ambassador-designate Gor

September 11, 2025

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New York/Washington, Sep 11 (PTI) US ambassador-designate to India Sergio Gor on Thursday said India's protectionist policies and regulatory barriers have prevented Washington from fully realising its partnership with Delhi, and if confirmed, he will work to advance trade that is fair, reciprocal and beneficial to Americans.

At his confirmation hearing in the Senate Foreign Relations Committee, Gor also said that India and the US are “not that far apart” right now on a trade deal.

"India is a strategic partner whose trajectory will shape the region and beyond,” Gor said as he underlined that he is committed to advancing America's interest in this "important" partnership.

Noting that India and the US are actively negotiating right now, Gor said President Donald Trump has invited their commerce and trade ministers next week, and they will be meeting with US Trade Representative Ambassador Jamieson Greer in Washington.

"Part of that will include hopeful, a hopeful deal. We are not that far apart right now on a deal. In fact, they're negotiating the nitty-gritty of a deal,” Gor said.

“We expect more from India than we do sometimes from other nations. I do think it will get resolved over the next few weeks,” he said.

Gor underlined that President Trump has a “deep friendship” with Prime Minister Narendra Modi, and that is something that is unique.  “In fact, if you have noticed, when he has gone after other nations, he tends to go after their leaders for putting us in that position, and for the US imposing those tariffs. When the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship,” he said.

He stressed again that “We're not that far apart on a deal already on these tariffs… Getting India to stop buying Russian oil is a top priority for this administration." "I think the time will arrive upon us in the next few weeks, the next few months, for all of this to get resolved,” Gor said.

Gor said that in the past, India's "protectionist policies and regulatory barriers have prevented us from fully realising this partnership. If confirmed, I'll work to advance trade that is fair, reciprocal and beneficial to the American workers and businesses." “Improving US-India trade ties will not only bolster US competitiveness, but also reduce China's economic leverage over other nations,” Gor said.

“If confirmed, I will work to increase American energy exports to India, establishing the US as a leading supplier of crude oil, petroleum products and liquefied natural gas,” he said.

When confirmed, 38-year-old Gor will be the youngest US ambassador to India.

"India's role in ensuring the stability and security of the region cannot be understated. A stable South Asia is in the interest of the US and all the nations,” he said, adding that the US-India partnership will define the 21st Century.

"It is only by working together that we can make that aspiration a reality.” He said India's geographic position, economic growth and military capabilities make it a “cornerstone” for regional stability and a critical part of promoting prosperity and advancing the security interests that the two nations share.

"I will work to deliver on the presidential agenda and advance US interests by increasing our defence cooperation, ensuring fair and beneficial trade, deepening energy security and furthering technology,” Gor said.

He underscored that if confirmed, he will prioritise deepening defence and security cooperation with India. “This includes expanding joint military exercises, advancing co-development and co-production of defence systems and concluding critical defence sales,” he said.

He added that these efforts will enhance collaboration between “our forces while supporting American defence manufacturers and making America more prosperous.” From artificial intelligence to pharmaceuticals to critical minerals, the potential for collaboration between the two countries is vast, Gor said, adding that he will advocate for reforms that will make India's markets more accessible and transparent.  “I will also work towards President Trump's ambitious goal dubbed ‘Mission 500’ to double bilateral trade to $500 billion by 2030, which will expand American exports, creating jobs and prosperity for our citizens,” he said.

He said he will encourage Indian investment in US manufacturing capacity, and “we will also be furthering with Indian investments in the United States. We'll also be furthering our strategic pharmaceutical supply chain and create more jobs right here at home in the US.”  India is also a strategic partner in advancing critical and emerging technology. The US-India Trust Initiative, launched in February by President Trump and Prime Minister Modi, lays out a path to leverage the impressive capacity of the US tech sector to outcompete China on the development of AI, quantum, semiconductors and other critical and emerging technologies, he said.  He said he will also advance this administration's AI Action Plan, which will ensure the dominance of American AI technology in India and globally. “Our technology cooperation will require significant energy resources, another area where the United States and India can work together,” he said.

He noted that India shares a lot more in common with the US than they do with China, and "for far too long, we have not had that personal touch. And not only will I be able to bring that to New Delhi, but the President is also extremely personally engaged.” "While we might have our moment of hiccups right now, we are on the track of resolving that. Our relationship with the Indian government, with the people of India extends many more decades, and it's a much warmer relationship than they have with the Chinese,” Gor said.

“Frankly, they (India) are concerned by Chinese expansionism, and Chinese expansionism is not just on the border of India, it's all over the area," he said, adding if confirmed, he will make it a "top priority that India is pulled into our side and away from them (China).” Gor referred to Trump’s complimentary comments for Prime Minister Modi and said the Indian leader responded in kind. "We have a great foundation that I hope, if I am confirmed, to build upon.” Replying to a question on the BRICS, Gor said, "Indians have been on our side on various issues within BRICS, including several individuals in BRICS - Brazil, China have pushed for years to move away from the US dollar. India has been the stopgap for that. India is much more willing and open to engage with us than… those other individuals that are in BRICS.” When asked about India’s purchases of Russian oil and how he views India's choice in light of US tariffs and America's strategic goals, Gor said President Trump has been crystal clear on this. "They must stop buying Russian oil.” PTI YAS ZH ZH

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