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    US slaps 10 per cent tariff on goods imported from India over forced labour concerns
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    US' temporary 10 pc tariff set to expire on Friday unless extended or new duties announced
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    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.
    India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
    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.
    The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
    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.
    Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
    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.
    July 23, 2026
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    Student fashion showcase celebrates identity, personal storytelling, craft preservation and conscious creation through nine contemporary design collections.
    Student fashion showcase 'Astitva' presented nine contemporary collections exploring identity, belonging, transformation, memory, resilience, grief and cultural heritage through personal design narratives. The collections included a contemporary reinterpretation of Bhujodi weaving, Ajrakh block printing and Kumaoni hand-knitting, emphasising preservation of Indian craft traditions. Recognition included a designer award for the craft-revival collection and a sustainability award for a collection focused on craftsmanship, conscious creation, heirloom design and mindful luxury.
    July 23, 2026
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    Rupee exchange-rate movements face pressure from elevated crude prices and equity outflows, moderated by possible central-bank intervention.
    Rupee exchange-rate movement in early foreign-exchange trading reflected a modest appreciation against the US dollar after depreciation in the preceding session. Possible dollar sales by state-owned banks, widely viewed as central-bank intervention, and a weaker US dollar supported the currency. Elevated crude-oil prices, foreign institutional equity outflows, and negative domestic equity-market sentiment continued to create downside pressure, although expected central-bank support was considered likely to limit losses.

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      'Shauq pal': Opposition slams Lokpal after it floats tender to buy 7 BMW cars

      October 22, 2025

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      New Delhi, Oct 22 (PTI) Top anti-corruption ombudsman Lokpal drew sharp criticism from the opposition on Wednesday after floating a tender to procure seven luxurious BMW cars, with leaders accusing the "guardians of integrity" of "chasing luxury over legitimacy".

      Congress general secretary in-charge communications Jairam Ramesh took a sharp dig at the Lokpal, saying the institution is now a "Shauq pal", a play on the Urdu word that loosely translates to pursuing personal interests or indulgences.

      Ramesh also questioned the Lokpal's investigative track record, asking what significant arrests or probes it has accomplished.

      Speaking with PTI, the Congress leader said a false narrative was created against the Manmohan Singh government with Anna Hazare, Arvind Kejriwal, "India Against Corruption" and the Rashtriya Swayamsevak Sangh (RSS) indulging in propaganda, and added that now, the reality of the Lokpal is before the people of the country.

      It needs to be asked what investigations has the Lokpal carried out and whose arrests it has succeeded in, Ramesh said.

      He said the Lokpal is now more of a "shock pal", "shok (mourn) pal" and "shauq (indulgence) pal".

      Senior Congress leader and former home minister P Chidambaram wondered that when Supreme Court judges are given modest sedans, why do the chairman and six members of the Lokpal require BMW cars.

      "Why spend public money to acquire these cars? I hope that at least one or two members of the Lokpal have refused, or will refuse, to accept these cars," Chidambaram said in a post on X.

      Senior Congress leader Abhishek Manu Singhvi also criticised the move and took a swipe at the Lokpal.

      "I chaired the Parliamentary Committee on Lokpal. Dr L M Singhvi first conceived idea of Lokpal in the early 1960s. To see this anti-corruption body now ordering BMWs for its members is tragic irony, the guardians of integrity chasing luxury over legitimacy," Singhvi said in a post on X.

      In another post, he said, "8,703 complaints. Only 24 probes. 6 prosecution sanctions. And now, BMWs worth Rs 70 lakh each. If this is our anti-corruption watchdog, it's more poodle than panther!" In a post on X, Trinamool Congress (TMC) MP Saket Gokhale said, "Lokpal's luxury. Annual budget of India's Lokpal is Rs 44.32 crore. Now, Lokpal is purchasing 7 luxury BMW cars at approx Rs 5 crore for all members. This equals 10 per cent of the entire annual budget." "Lokpal is supposedly an anti-corruption body. So who will probe the corrupt Lokpal?" Gokhale asked.

      Shiv Sena (UBT) MP Priyanka Chaturvedi also lashed out at the Lokpal for inviting tenders from reputed agencies for the supply of seven BMW 3 Series Li cars.

      "Gazab ka Jokepal at Indian taxpayers expense. Oh btw what happened to Swadesi call by GoI?" she asked in a post on X.

      In another post, Chaturvedi said, "Lokpal was meant to bring transparency and accountability into the system and curb corruption but then the institution itself has become morally corrupt. Right from 'investigating' Mahua Moitra's Bobbi Brown lipstick, Hermes scarf to wanting to acquire BMW for comfort, that's why I call it Jokepal or LOLpal -- you prefer." The anti-graft ombudsman has floated a tender to procure seven luxury BMW cars, collectively worth around Rs 5 crore.

      According to the tender and the manufacturer's website, the long-wheelbase sedan, with an on-road price of approximately Rs 69.5 lakh per unit in Delhi, is described as the longest and most spacious car in the segment designed for outstanding comfort in an extremely-luxurious cabin.

      "The Lokpal of India invites open tenders from reputed agencies for supply of seven BMW 3 series 330Li cars to the Lokpal of India," read the tender floated on October 16, which specifically mentioned the procurement of the "M Sport" model, with "long wheelbase" and in white colour.

      The procurement aims to provide a vehicle for each of the institution's current members, including Chairman Justice (retired) A M Khanwilkar and six others. The sanctioned strength of the Lokpal is eight.

      The Lokpal's tender says the selected vendor must conduct a comprehensive seven-day practical and theoretical training programme for the anti-graft ombudsman's drivers and designated staff, the cost of which will be exclusively borne by the vendor.

      The training, which must be completed within 15 days of the vehicles' delivery, is required to cover "familiarisation with all controls, features and safety systems", "emergency handling" and a minimum of 50 to 100 kilometres of on-road practice for each driver.

      The last date for bid submission is November 6, with an earnest money deposit of Rs 10 lakh required from bidders. The delivery has been sought in "preferably two weeks but not later than 30 days" from the supply order date, according to the tender. PTI ASK SKL RC

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