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    India achieves near-universal banking coverage, with 99.92% of inhabited villages now served by a banking outlet
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    ACE Software Posts Earnings Turnaround; Standalone Profit Before Tax Up 43% YoY
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    Raymond Lifestyle Limited Delivered a stable Q1 FY27 Performance
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    Drill, Baby, Drill: India to fund Rs 650 cr per well for 60 deepsea wells to break its oil import habit
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    MCD-facilitated PM Vishwakarma Scheme enrols over 41,000 artisans in Delhi
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    August 3, 2026
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    Banking inclusion expands rural access while digital credit systems and payment security controls address service delivery and cyber fraud.
    Banking inclusion is pursued by providing banking outlets within a five-kilometre radius of inhabited villages, with branch expansion permitted subject to rural-coverage requirements and continuing assessment of uncovered areas. Agricultural credit delivery uses digital loan, beneficiary-verification, processing and claim-settlement systems. Digital payment security measures require minimum controls for payment channels and include fraud-intelligence sharing, artificial-intelligence-based identification of money-mule activity, digital lending-app analysis, cyber-incident reporting, public awareness campaigns and electronic-banking training.
    August 3, 2026
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    Foreign exchange market movement strengthened the rupee as lower crude prices, investment inflows and improved risk sentiment provided support.
    Foreign exchange market movement saw the rupee strengthen for a sixth consecutive trading session against the US dollar, supported by declining global crude oil prices, a softer dollar, foreign institutional investment inflows and gains in domestic equity markets. Improved global risk sentiment followed the decision to defer planned US military strikes against Iran and allow diplomatic engagement. Renewed geopolitical tensions were identified as a factor that could limit further appreciation.
    August 3, 2026
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    Quarterly financial performance reflects revenue growth, improved standalone profitability, and continued investment in AI-led digital technology platforms.
    Quarterly financial performance reported revenue growth in standalone and consolidated operations, higher standalone profit before tax, and a return to consolidated profitability. The company continues to invest in an AI-led, intellectual-property-driven digital technology strategy through enterprise software, SaaS platforms, digital commerce, cloud, data and AI solutions. Its priorities include scalable platforms, proprietary technology assets, recurring-revenue offerings, partnerships and selective acquisitions. Complete financial results, notes to accounts and regulatory disclosures are available through exchange filings and the company website.
    August 3, 2026
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    MSME delayed-payment reforms strengthen award recovery, faster dispute adjudication, invoice discounting, and interim supplier payment protection.
    MSME delayed-payment reforms seek faster adjudication, strengthened recovery and improved liquidity for enterprise suppliers. Courts may direct payment of at least half of an awarded amount where a setting-aside application remains pending beyond six months. Mediated settlements and arbitral awards may be recovered as arrears of land revenue and recognised as legally enforceable debts under the insolvency framework. The measures also provide graded penalties, voluntary digital registration, invoice settlement through the Trade Receivables Discounting System, and additional Facilitation Councils.
    August 3, 2026
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    Monetary policy rate setting remains cautious as inflation, liquidity, growth and global uncertainty shape the policy stance.
    Monetary policy rate setting is expected to remain cautious amid global uncertainty, rising inflation risks and steady domestic growth. The inflation outlook is affected by energy-price pass-through, higher input costs, and seasonal and monsoon-related food-price pressures. Policy decisions are expected to remain data-dependent, guided primarily by domestic inflation, liquidity conditions and economic growth. A cautious or neutral stance is identified as preferable while external risks and inflation developments persist.
    August 3, 2026
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    Forward-looking financial disclosure raises revenue and earnings guidance while describing non-GAAP measures, capital allocation, and material business risks.
    Financial performance reporting identifies increased bookings, revenue growth, continuing earnings, and backlog, with segment-level operating and margin measures. The release addresses cash flow, capital allocation through dividends, acquisitions and share repurchases, and increased full-year revenue and earnings guidance. Forward-looking statements concerning financial performance, operations, demand, liquidity and capital deployment are subject to identified risks and uncertainties. Non-GAAP measures are presented as supplemental to GAAP measures, with definitions and reconciliations stated to be available in accompanying materials.
    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
    Show AI Summary
    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
    Show AI Summary
    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.

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      Israel, Hamas will exchange hostages, prisoners after agreeing to pause in war in Gaza

      October 9, 2025

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      Cairo, Oct 9 (AP) Israel and Hamas have agreed to a pause in their devastating two-year war and the release of the remaining hostages in exchange for Palestinian prisoners — a breakthrough greeted with joy and relief Thursday but also caution.

      Uncertainty remains about aspects of the broader peace plan advanced by the administration of US President Donald Trump — such as whether and how Hamas will disarm and who will govern Gaza.

      But the sides appear closer than they have been in months to ending a war that has killed tens of thousands of Palestinians, reduced much of Gaza to rubble, brought famine to parts of the territory, and left dozens of hostages, living and dead, in Gaza.

      The war, which began with Hamas' deadly attack on Israel on October 7, 2023, has also triggered other conflicts in the region, sparked worldwide protests and led to allegations of genocide that Israel denies.

      Even with the agreement expected to be signed later in the day, Israeli strikes continued, with explosions seen Thursday in northern Gaza. There were no immediate reports of damage or casualties.

      An Israeli military official who spoke on the condition of anonymity in line with military guidelines said that Israel was continuing to hit targets that posed a threat to its troops as they reposition.

      In the southern Gaza city of Khan Younis, celebrations were relatively muted and often coloured by grief.

      “I am happy and unhappy. We have lost a lot of people and lost loved ones, friends and family. We lost our homes," said Mohammad Al-Farra. "Despite our happiness, we cannot help but think of what is to come. ... The areas we are going back to, or intending to return to, are uninhabitable.” In Tel Aviv, families of the remaining hostages popped champagne and cried tears of joy after Trump announced a deal late Wednesday.

      In Jerusalem on Thursday, Sharon Canot celebrated with some others.

      “We are so excited this morning, we cried all morning," she said. “It's been two years that we are in horror.” Under the terms, Hamas intends to release all living hostages in a matter of days, while the Israeli military will begin a withdrawal from the majority of Gaza, people familiar with the matter told The Associated Press on condition of anonymity to discuss details of an agreement that has not fully been made public. Some 20 of the 48 hostages still in captivity are believed to be alive.

      In a short video posted by US Commerce Secretary Howard Lutnick, Trump was seen speaking by phone to a group of elated hostage families.

      “The hostages will come back,” said Trump, who is expected in the region in the coming days. “They are all coming back on Monday.” Israeli Prime Minister Benjamin Netanyahu plans to convene his Security Cabinet late Thursday to approve the ceasefire, and the entire parliament will then meet to approve the release of Palestinian prisoners.

      Far-right Israeli Finance Minister Bezalel Smotrich, who has opposed previous ceasefire deals, said he had “mixed emotions.” While he welcomed the return of the hostages, he said he had “immense fear about the consequences of emptying the jails and releasing the next generation of terrorist leaders” and called for Israel to continue trying to eradicate Hamas and ensure Gaza is demilitarised once the hostages are released.

      Hamas, meanwhile, called on Trump and the mediators to ensure that Israel implements “without disavowal or delay” the troop withdrawal, the entry of aid into Gaza and the exchange of prisoners.

      How the deal will unfold The deal being submitted to Israel's parliament and then expected to be signed in Egypt will include a list of prisoners to be released and maps for the first phase of an Israeli withdrawal to new positions in Gaza, according to two Egyptian officials briefed on the talks, a Hamas official and another official.

      Israel will publish the list of the prisoners — and victims of their attacks have 24 hours to lodge objections.

      The withdrawal could start as soon as Thursday evening, said the officials, who spoke on condition of anonymity because they were not authorised to be publicly named speaking about the negotiations.

      As Trump indicated, the hostage and prisoner releases are expected to begin Monday, the officials from Egypt and Hamas said, though the other official said they could occur as early as Sunday night.

      Five border crossings would reopen, including the Rafah crossing between Gaza and Egypt, allowing 400 trucks in the initial days and increasing to 600 trucks after that, the Egyptian and Hamas officials said.

      The Trump peace plan calls for Israel to maintain an open-ended military presence inside Gaza, along its border with Israel. An international force, comprised largely of troops from Arab and Muslim countries, would be responsible for security inside Gaza. The US would lead a massive internationally funded reconstruction effort.

      The plan also envisions an eventual role for the Palestinian Authority — something Netanyahu has long opposed. But it requires the authority, which administers parts of the West Bank, to undergo a sweeping reform programme that could take years.

      The Trump plan is even more vague about a future Palestinian state, which Netanyahu firmly rejects.

      Some 1,200 people were killed in the Hamas-led assault that triggered the war, and 251 were taken hostage.

      In Israel's ensuing offensive, more than 67,000 Palestinians have been killed in Gaza and nearly 170,000 wounded during the war, according to Gaza's Health Ministry, which doesn't differentiate between civilians and combatants but says around half of the deaths were women and children.

      The ministry is part of the Hamas-run government, and the United Nations and many independent experts consider its figures to be the most reliable estimate of wartime casualties.

      Relief at a deal Even with many details yet to be agreed, many expressed relief at the progress.

      Beginning Wednesday night and continuing into Thursday, joyful relatives of hostages and their supporters spilled into Tel Aviv's central square, which has become the main gathering point in the effort to free the captives. Many sang and danced as they waved Israeli and American flags.

      Einav Zangauker, the mother of Israeli captive Matan Zangauker, told reporters that she wants to tell her son she loves him.

      “If I have one dream, it is seeing Matan sleep in his own bed,” she said.

      From the central Gaza city of Deir al-Balah, Alaa Abd Rabbo called the announcement “a godsend.” “This is the day we have been waiting for,” said Abd Rabbo, who was originally from northern Gaza but was forced to move multiple times during the war. “We want to go home.” This would be the third ceasefire since the start of the war. The previous two also saw hostages and prisoners exchanged. Israel ended the most recent ceasefire, which started in January, with a surprise bombardment in March.

      Ayman Saber, a Palestinian from Khan Younis, said he plans to return to his home city and try to rebuild his house, which was destroyed last year by an Israeli strike.

      “I will rebuild the house, we will rebuild Gaza,” he said. (AP) GRS GRS

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