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    Bengaluru customs arrest passengers for smuggling ganja, gold at airport
    Third-country goods routed via New Zealand into India won't get FTA duty benefits
    Govt urges bank employees to refrain from strikes, resolve issues through dialogue
    Ex-Punjab DIG Bhullar case: ED arrests 'middleman' Kirshanu Sharda for corruption
    RBI revises foreign currency deposit inflows under FCNR(B) upward to USD 133 bn
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    India's Semiconductor Market Projected to Grow Threefold to USD 200 billion by 2035: EY-IESA Report
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September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.
September 21, 2026
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Duty-free access for Indian exports under the India-New Zealand trade agreement begins with its entry into force.
The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.
September 21, 2026
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Tariff sanctions and AI trade consultations examine reciprocal tariff reduction amid energy-purchase measures and objections to unilateral sanctions.
Expanded sanctions and tariff measures form the immediate trade-policy backdrop. The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 authorises expanded sanctions and tariffs targeting Russia and countries that buy its energy exports. China contests the application of tariffs to its purchases and opposes long-arm jurisdiction and unilateral sanctions asserted without a basis in international law or a UN Security Council mandate. Parallel negotiations contemplate a reciprocal tariff-reduction arrangement.

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Doubling down on UK: Microsoft chief Satya Nadella during Trump State Visit

September 17, 2025

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London, Sep 17 (PTI) Microsoft CEO Satya Nadella said on Wednesday that the American tech giant is “doubling down” on investments in Britain as President Donald Trump began his State Visit with the announcement of a US-UK Tech Prosperity Deal, focused on developing fast-growing technologies such as AI, quantum, and nuclear.

Trump, who stayed overnight at the US Ambassador’s Winfield House residence in central London before the pomp and pageantry of his royal welcome at Windsor Castle, had a phone conversation with Prime Minister Keir Starmer ahead of their formal talks on Thursday.

The visit opened with a string of investment deals dubbed a “generational step change” to commit joint resources and expertise into emerging technologies for both countries.

“We’re committed to creating new opportunity for people and businesses on both sides of the Atlantic, and to ensuring America remains a trusted and reliable tech partner for the United Kingdom,” Nadella, the Indian-American Microsoft chief, said in an official statement.

“That is why we are doubling down on our investment in the UK, investing more than 30 billion dollars over four years, including building the country’s largest supercomputer,” he said.

Besides Microsoft, NVIDIA, Google, OpenAI, and CoreWeave are among the American tech majors to have committed a combined 31 billion pounds to boost the UK’s artificial intelligence (AI) infrastructure, from data centres to computer chips.

“This Tech Prosperity Deal marks a generational step change in our relationship with the US, shaping the futures of millions of people on both sides of the Atlantic, and delivering growth, security and opportunity up and down the country,” said Starmer.

“By teaming up with world-class companies from both the UK and US, we’re laying the foundations for a future where together we are world leaders in the technology of tomorrow, creating highly skilled jobs, putting more money in people’s pockets and ensuring this partnership benefits every corner of the United Kingdom,” he said.

Building new AI models for life-changing breakthroughs such as treatments for those suffering from cancer or rare and chronic diseases and shared priorities like fusion energy are among the areas set to benefit from the new tech pact.

“This is a vote of confidence in Britain’s booming AI sector – building on British success stories such as Arm, Wayve and Google Deepmind – that will boost growth and deliver tens of thousands of skilled jobs,” said UK Technology Secretary Liz Kendall in a statement.

A new AI Growth Zone is expected to host some of the initial deployment of OpenAI’s Stargate UK project at Cobalt Park as part of the agreement.

Sam Altman, CEO of OpenAI, said: “The UK has been a longstanding pioneer of AI, and is now home to world-class researchers, millions of ChatGPT users, and a government that quickly recognised the potential of this technology.

“Stargate UK builds on this foundation to help accelerate scientific breakthroughs, improve productivity, and drive economic growth. This partnership reflects our shared vision that with the right infrastructure in place, AI can expand opportunity for people and businesses across the UK.” The tech pact sets the stage as King Charles III hosts Trump at his royal castle in Berkshire, complete with a gilded carriage procession, guard of honour and State Banquet.

The visit has been closely choreographed to impress the US President, who is unlikely to witness the protests planned on the streets of London and Windsor.

Four men, aged between 36 and 60, were arrested on Tuesday night after images of Trump and convicted American sex offender Jeffrey Epstein were projected onto the Windsor Castle walls.

“We take any unauthorised activity around Windsor Castle extremely seriously. Our officers responded swiftly to stop the projection and four people have been arrested,” the local Thames Valley Police said. PTI AK GRS GRS GRS

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