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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
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    August 17, 2026
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    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
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    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
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    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
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    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
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    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
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    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
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    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
    Show AI Summary
    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

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      Democratic governors vow court fight as Trump sends National Guard members to Oregon

      October 6, 2025

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      Washington, Oct 6 (AP) President Donald Trump is sending California and Texas National Guard members to Oregon after a judge temporarily blocked his administration from deploying that state's guard to Portland, and the Democratic governors of California and Oregon pledged Sunday to fight the move in court.

      Oregon and California were awaiting a federal judge's hearing on their request for an order to temporarily block the Trump administration from deploying California National Guard troops in Portland, Oregon. The same judge blocked the administration from deploying Oregon National Guard troops in Portland on Saturday.

      A Pentagon spokesperson said in a statement that about 200 federalised members of the California National Guard who had been on duty around Los Angeles were being reassigned to Portland. Oregon Governor Tina Kotek said about 100 arrived Saturday and around 100 more were en route Sunday.

      Kotek said there had been no formal communication with the federal government about the deployment. California Governor Gavin Newsom's office said about 300 previously federalised California guard members could eventually be deployed.

      Defense Secretary Pete Hegseth wrote in a memo that was submitted to the court that up to 400 Texas National Guard personnel were being activated for deployment to Oregon, Illinois and possibly elsewhere.

      Texas Governor Greg Abbott said in a post on X Sunday night that he had authorised the call-up. “You can either fully enforce protection for federal employees or get out of the way and let Texas Guard do it,” he wrote.

      The events in Oregon come a day after Illinois' governor made a similar announcement about troops in his state being activated.

      Kotek said the latest move by federal officials is an attempt to circumvent Saturday's court ruling that blocked deployment of Oregon's guard members.

      “The facts on the ground in Oregon haven't changed,” Kotek said during a news conference Sunday. “There's no need for military intervention in Oregon. There's no insurrection in Portland, there's no threat to national security.” Oregon and California go back to court Oregon Attorney General Dan Rayfield said his state, along with the city of Portland and California, is seeking an amended temporary restraining order against the deployment of any National Guard troops.

      “What was unlawful yesterday is unlawful today,” Rayfield said. “The judge's order was not some minor procedural point for the president to work around, like my 14-year-old does when he doesn't like my answers.” Rayfield added that Oregon "will absolutely not be a party to the president's attempt to normalise the use of the United States military in our American cities.” Newsom, a Democrat, said in a statement that California personnel were on their way Sunday and called the deployment “a breathtaking abuse of the law and power.” He said these troops were “federalised” and put under the president's control months ago over his objections, in response to unrest in Los Angeles.

      “The commander-in-chief is using the US military as a political weapon against American citizens,” Newsom said.

      California also joined Oregon's lawsuit challenging the Trump administration's deployment of National Guard personnel to Portland as unlawful and unnecessary overreach.

      Three hundred California National Guard personnel deployed in southern California had already been federalised until early November, and leaders of the California Military Department had learned that all 300 of those “will be imminently deployed to Portland,” according to the amended complaint filed Sunday.

      Trump deployed California National Guard troops to Los Angeles in June to enforce immigration law and has no legal grounds to redeploy them to Oregon for another purpose, Sunday's court filing stated.

      “They cannot continue to hold the federalised National Guard members hostage by altering their mission and sending them to another State,” the filing said.

      The lawsuit notes that the president has the authority to deploy National Guard troops under very specific circumstances: repelling an invasion, suppressing a rebellion or enforcing federal laws.

      “There is no rebellion in Portland,” the filing said.

      In a related court filing, an attorney in the California Military Department said the US Army Northern Command advised the department on Sunday that an order will be issued keeping the 300 guard personnel federalized through the end of January.

      Protests are confined to one city block The US Immigration and Customs Enforcement building in Portland has recently been the site of nightly protests. A Trump-appointed federal judge in Oregon on Saturday temporarily blocked the Trump administration's plan to deploy the Oregon National Guard in Portland to protect federal property amid protests after Trump called the city “war-ravaged.” Oregon officials and Portland residents alike said that description was ludicrous. The protest was relatively small and localised to just one block of the city of 650,000 residents, Kotek said.

      US District Judge Karin Immergut, appointed by Trump during his first term, issued the order pending further arguments in a lawsuit brought by the state and city. She said the relatively small protests did not justify the use of federalised forces and allowing the deployment could harm Oregon's state sovereignty.

      California Attorney General Rob Bonta said the president is “specifically targeting cities that lean Democratic” or have leaders and residents who speak out against the administration's abuses of power.

      “It's our National Guard, California's National Guard, not Trump's Royal Guard, as he seems to think," Bonta said during a Sunday evening news conference. "Trump can't use our military troops as his own personal police force.” Portland Mayor Keith Wilson said Sunday that he saw federal agents engaged in what he described as unjustified use of force and indiscriminately spraying pepper spray and impact munitions during a protest outside the ICE facility.

      “This is an aggressive approach trying to inflame the situation that has otherwise been peaceful,” Wilson said.

      Portland has alerted the civil rights division of the Department of Justice to the agents' actions, Wilson said.

      Troops also deployed to Illinois Trump has characterised both Portland and Chicago as cities rife with crime and unrest. Since the start of his second term, he has sent or talked about sending troops to 10 cities.

      Trump authorised the deployment of 300 Illinois National Guard troops to protect federal officers and assets in Chicago on Saturday.

      Illinois Governor JB Pritzker's office said the situation in Chicago "does not require the use of the military and, as a result, the governor opposes the deployment of the national guard under any status.” Pritzker didn't receive any calls from federal officials about the deployment, his office said. (AP) SKY SKY

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