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    NICDC Organises Cross-Learning Site Visit to AURIC Smart City to Strengthen Industrial Corridor Development
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    Supertech twin towers: SC defers hearing on plea seeking refund for homebuyers
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    July 24, 2026
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    Foreign exchange market intervention limited rupee depreciation amid elevated oil prices, importer dollar demand, capital outflows and equity market weakness.
    Foreign exchange market conditions reflected an early appreciation of the rupee against the US dollar, with likely central bank intervention through state-owned banks reported as limiting sharper depreciation. Softer dollar conditions provided limited support, while elevated crude oil prices increased dollar demand from oil marketing companies and sustained importer buying pressure. Foreign institutional investor equity outflows, domestic equity weakness, and West Asia tensions affecting oil prices also influenced the rupee.
    July 24, 2026
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    Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions.
    A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
    July 24, 2026
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    Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods.
    Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
    July 24, 2026
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    Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
    Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
    July 24, 2026
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    WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
    India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
    July 23, 2026
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    Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
    The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
    July 23, 2026
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    Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
    A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
    July 23, 2026
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    Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition.
    Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
    July 23, 2026
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    Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
    Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.
    July 23, 2026
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    Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
    Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
    July 23, 2026
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    Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
    July 23, 2026
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    Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
    Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
    July 23, 2026
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    Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors.
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    July 23, 2026
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    Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
    Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
    July 23, 2026
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    Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
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    July 23, 2026
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    Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals.
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    July 23, 2026
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    Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions.
    Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
    July 23, 2026
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    Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
    Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
    July 23, 2026
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    Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
    The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.
    July 23, 2026
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    Practical legal training and structured internships strengthen judicial examination preparation, professional skills, and career exposure for law students.
    Legal education employability initiatives combine curriculum alignment for judicial and competitive examinations with mentoring, legal drafting practice, research training, and professional interaction. Internships provide practical exposure to courts, judicial institutions, government bodies, law firms, advocates' chambers, corporate legal departments, and non-governmental organisations. Students in integrated and three-year law programmes complete prescribed minimum internship periods, with summer and winter placements commencing after the first year. Specialisation-based internships cover civil, criminal, corporate, cyber, intellectual property, arbitration, taxation, and government or non-governmental legal work.

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      Paris court sentences Nicolas Sarkozy to 5 years in prison for criminal conspiracy

      September 25, 2025

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      Paris, Sep 25 (AP) A Paris court on Thursday sentenced former French President Nicolas Sarkozy to five years in prison after finding him guilty of criminal conspiracy in a scheme to finance his 2007 campaign with funds from Libya, a verdict that the still-influential conservative leader denounced as “a scandal.” The historic ruling made Sarkozy the first former president of modern France sentenced to actual time behind bars. In a major surprise, the court ruled that the 70-year-old will be incarcerated despite his intention to appeal. It said his imprisonment would start at a date yet to be fixed, sparing the former head of state the humiliation of being led out of the packed courtroom by police.

      The court found Sarkozy guilty of criminal association in a plot from 2005 to 2007, when he served as interior minister, to finance his winning presidential campaign with funds from Libya in exchange for diplomatic favours. It cleared him of three other charges including passive corruption, illegal campaign financing and concealing the embezzlement of public funds.

      Sarkozy denounced the ruling as a humiliation for the country.

      “If they absolutely want me to sleep in prison, I will sleep in prison. But with my head held high. I am innocent. This injustice is a scandal," he said with his wife, the singer and model Carla Bruni-Sarkozy, at his side.

      “I ask the French people — whether they voted for me or not, whether they support me or not — to grasp what has just happened. Hatred truly knows no bounds," he said.

      "Should I appear in handcuffs before the Court of Appeal? Those who hate me this much, think it's humiliating for me. What they humiliated today is France.” With Sarkozy standing in front of her, chief judge Nathalie Gavarino said in sentencing him that “the goal of the criminal conspiracy was to give you an advantage in the electoral campaign” and “to prepare an act of corruption at the highest possible level in the event that you were elected President of the Republic.” The facts were “exceptionally serious” and “capable of undermining citizens' trust in public institutions,” with Sarkozy having used his position as interior minister “to prepare an act of corruption at the highest level," the judge said.

      Sarkozy described the financing plot as simply “an idea.” “I am being convicted for having supposedly allowed two of my staff members to go ahead with the idea — the idea — of illegal financing for my campaign," he said.

      The court found that two of Sarkozy's closest associates when he was president -- former ministers Claude Guéant and Brice Hortefeux — were guilty of criminal association, but likewise acquitted them of some other charges. The court sentenced Hortefeux to two years imprisonment, but said time can be served outside prison with an electronic monitoring bracelet. Guéant was handed a six-year prison term but wasn't incarcerated immediately for health reasons.

      The court said both Guéant and Hortefeux held secret meetings in 2005 with Abdullah al-Senoussi, the brother-in-law and intelligence chief of former Libyan dictator Moammar Gadhafi.

      Gadhafi was toppled and killed in an uprising in 2011, ending his four-decade rule of the North African country. Al-Senoussi is considered the mastermind of attacks on a Pan Am jumbo jet over Lockerbie, Scotland in 1988 and a French airliner over Niger the following year — causing hundreds of deaths. In 2003, Libya took responsibility for both plane bombings.

      The Paris court described the contacts as a “corruption pact.” It said favors offered to Libya by Sarkozy and associates included talks about Al-Senoussi's judicial fate as well as financing for nuclear power in Libya and continued French efforts to help Libya shed its status as a pariah state under Gadhafi.

      The ruling from the panel of three judges said Sarkozy allowed his associates to reach out to Libyan authorities “to obtain or try to obtain financial support." But the court said it wasn't able to determine with certainty that Libyan money ended up financing Sarkozy's campaign. The court explained that under French law, a corrupt scheme can still be a crime even if money wasn't paid or cannot be proven.

      Sarkozy, who was elected in 2007 but lost his bid for reelection in 2012, denied all wrongdoing during a three-month trial earlier this year.

      Despite multiple legal scandals that have clouded his presidential legacy, Sarkozy remains an influential figure in right-wing politics in France and in entertainment circles, by virtue of his marriage to Bruni-Sarkozy.

      Alleged Libya financing The accusations trace their roots to 2011, when a Libyan news agency and Gadhafi said the Libyan state had secretly funnelled millions of euros into Sarkozy's 2007 campaign.

      In 2012, the French investigative outlet Mediapart published what it said was a Libyan intelligence memo referencing a 50 million-euro funding agreement. Sarkozy denounced the document as a forgery and sued for defamation. The court ruled Thursday that it “now appears most likely that this document is a forgery." Investigators also looked into a series of trips to Libya made by people close to Sarkozy when he served as interior minister, including his chief of staff.

      In 2016, Franco-Lebanese businessman Ziad Takieddine told Mediapart that he had delivered suitcases filled with cash from Tripoli to the French Interior Ministry under Sarkozy. He later retracted his statement.

      That reversal is now the focus of a separate investigation into possible witness tampering. Both Sarkozy and his wife were handed preliminary charges for involvement in alleged efforts to pressure Takieddine. That case has not gone to trial yet.

      Takieddine, who was one of the co-defendants, died on Tuesday in Beirut. He was 75. He had fled to Lebanon in 2020 and did not attend the trial.

      Sarkozy denounced a plot' The trial shed light on France's back-channel talks with Libya in the 2000s, when Gadhafi was seeking to restore diplomatic ties with the West.

      During the trial, Sarkozy denounced the allegations as a “plot” cooked up by “liars and crooks” including the “Gadhafi clan.” He suggested they were retaliation for his call — once installed as France's president — for Gadhafi's removal. He was one of the first Western leaders to push for military intervention in Libya in 2011, when pro-democracy protests swept the Arab world.

      “What credibility can be given to such statements marked by the seal of vengeance?” Sarkozy said during the trial.

      Stripped of the Legion of Honour In June, Sarkozy was stripped of his Legion of Honour medal — France's highest award — after his conviction in a separate case.

      Earlier, he was found guilty of corruption and influence peddling for trying to bribe a magistrate in 2014 in exchange for information about a legal case in which he was implicated.

      Sarkozy was sentenced to wear an electronic monitoring bracelet for one year. He was granted a conditional release in May due to his age, which allowed him to remove the electronic tag after just over three months.

      In another case, Sarkozy was convicted last year of illegal campaign financing in his failed 2012 reelection bid. He was accused of having spent almost twice the maximum legal amount and was sentenced to a year in prison, of which six months were suspended.

      Sarkozy has appealed that verdict to the highest Court of Cassation, and that appeal is pending. (AP) RD RD

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