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    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
    Sugar prices soar to Rs 70 per kg ahead of festive season in Bengal, jaggery also dearer
    Rupee gains 9 paise to 95.65 against US dollar in early trade
    Union Minister of State for Finance Shri Pankaj Chaudhary participated virtually in 21st Award Ceremony of Security Printing and Minting Corporation o...
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    Quebec remains cautious on Canada-US trade deal as Ottawa pushes to restore US alcohol
    No cases of foreigners getting Aadhaar, other govt benefits reported during SIR in K'taka: Minister
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31; caps sugar stock for bulk consumers
    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
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    A Vision for Responsible AI, Resilient Banking - Keynote Address [Contributions by RBI colleagues Ms. Chandni Trehan Saluja and Ms. Kavita Gangwal, De...
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August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
Show AI Summary
Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
Show AI Summary
Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.

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Customs & Trade

American e-waste is causing 'hidden tsunami' in Southeast Asia, report says

October 23, 2025

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Hanoi, Oct 23 (AP) Millions of tons of discarded electronics from the United States are being shipped overseas, much of it to developing countries in Southeast Asia unprepared to safely handle hazardous waste, according to a new report released Wednesday by an environmental watchdog.

The Seattle-based Basel Action Network, or BAN, said a two-year investigation found at least 10 US companies exporting used electronics to Asia and the Middle East, in what it says is a “hidden tsunami” of electronic waste.

“This new, almost invisible tsunami of e-waste is taking place ... padding already lucrative profit margins of the electronics recycling sector while allowing a major portion of the American public's and corporate IT equipment to be surreptitiously exported to and processed under harmful conditions in Southeast Asia,” the report said.

Growing e-waste --------------------- Electronic waste, or e-waste, includes discarded devices like phones and computers containing both valuable materials and toxic metals like lead, cadmium and mercury. As gadgets are replaced faster, global e-waste is growing five times quicker than it's formally recycled.

The world produced a record 62 million metric tons in 2022. That's expected to climb to 82 million by 2030, according to the United Nations' International Telecommunication Union and its research arm, UNITAR.

Toxic chemicals -------------------- That American e-waste adds to the burden for Asia, which already produces nearly half the world's total. Much of it is dumped in landfills, leaching toxic chemicals into the environment. Some end up in informal scrapyards, where workers burn or dismantle devices by hand, often without protection, releasing toxic fumes and scrap.

About 2,000 containers — roughly 33,000 metric tons (36,376 US tons) — of used electronics leave US ports every month, according to the report. It said the companies behind the shipments, described as “e-waste brokers,” typically don't recycle the waste themselves but send it to companies in developing countries.

Response to the report --------------------------- The companies identified in the report include Attan Recycling, Corporate eWaste Solutions (CEWS, Creative Metals Group, EDM, First America Metal Corp., GEM Iron and Metal Inc., Greenland Resource, IQA Metals, PPM Recycling and Semsotai.

Six of the companies didn't immediately respond to emailed requests for comment.

Semsotai told The Associated Press that it doesn't export scrap, only working components for reuse. It accused BAN of bias.

PPM Recycling told The Associated Press that its warehouses in California and Texas ship only aluminium and other non-iron metals to Malaysia. It said BAN had exaggerated shipment volumes, adding that it used accurate trade codes and followed US and international rules.

Greenland Resource told The Associated Press it took the allegations seriously and was reviewing the matter internally and couldn't comment further without seeing the report.

CEWS said it follows strict environmental standards, but some aspects of where and how recycled materials are handled are industrial secrets.

Value of more than USD 1 billion ----------------------------------- The report estimated that between January 2023 and February 2025, the 10 companies exported more than 10,000 containers of potential e-waste valued at over USD 1 billion, the report said. Industrywide, such trade could top USD 200 million a month.

Eight of the 10 identified companies hold R2V3 certifications — an industry standard meant to ensure electronics are recycled safely and responsibly, raising questions about the value of such a certification, the report said.

Several companies operate out of California, despite the state's strict e-waste laws requiring full reporting and proper downstream handling of electronic and universal waste.

International treaty ----------------------- Many e-waste containers go to countries that have banned such imports under the Basel Convention, which is an international treaty that bars hazardous waste trade from non-signatories like the US, the only industrialised nation yet to ratify it.

The nonprofit said its review of government and private trade records from ships and customs officials showed shipments were often declared under trade codes that did not match those for electronic waste, such as “commodity materials” like raw metals or other recyclable goods, to evade detection. Such classifications were “highly unlikely” given how the companies publicly describe their operations, the report said.

Landfills and pollution --------------------------- Tony R. Walker, who studies global waste trade at Dalhousie University's School for Resource and Environmental Studies in Halifax, Canada, said he wasn't surprised that e-waste continues to evade regulation. While some devices can be legally traded if functional, most such exports to developing nations are broken or obsolete and mislabeled, bound for landfills that pollute the environment and have little market value, he said.

He pointed to Malaysia — a Basel Convention signatory identified in the report as the primary destination for US e-waste — saying the country would be overwhelmed by that volume, in addition to waste from other wealthy nations.

“It simply means the country is being overwhelmed with what is essentially pollution transfer from other nations,” he said.

Mecca of junk' ------------------ The report estimates that US e-waste shipments may have made up about 6 per cent of all US exports to the country from 2023 to 2025. After China banned imports of foreign waste in 2017, many Chinese businesses shifted their operations to Southeast Asia, using family and business ties to secure permits.

“Malaysia suddenly became this mecca of junk,” said Jim Puckett of the Basel Action Network.

Containers were also sent to Indonesia, Thailand, the Philippines and the UAE, despite bans under the Basel Convention and national laws, the report added.

In countries receiving this US e-waste, "undocumented workers desperate for jobs" toil in makeshift facilities, inhaling toxic fumes as they strip wires, melt plastics and dismantle devices without protection, the report said.

Efforts to control illegal imports ------------------------------------- Authorities in Thailand and Malaysia have stepped up efforts to curb illegal imports of US e-waste.

In May, Thai authorities seized 238 tons of US e-waste at Bangkok's port seized 238 tons of US scrap at Bangkok's, while Malaysian authorities confiscated e-waste worth USD 118 million in nationwide raids in June.

Most of the facilities in Malaysia were illegal and lacked environmental safeguards, said SiPeng Wong, of Malaysia's Centre to Combat Corruption & Cronyism.

Exporting e-waste from rich nations to developing nations strains local facilities, overwhelms efforts to manage domestic waste and is a form of “waste colonialism,” she said. (AP) SKS SKS

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