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    Government's Financial Inclusion Mission Continues to Foster Economic Empowerment Through Universal Banking, Social Security and Credit Access
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    July 22, 2026
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    Financial inclusion expands universal banking, social insurance, pensions and collateral-free credit for underserved households and entrepreneurs.
    Financial inclusion is pursued through universal banking under Pradhan Mantri Jan Dhan Yojana, social-security coverage through life, accident and pension schemes, and credit access for underserved borrowers. Pradhan Mantri Mudra Yojana provides collateral-free institutional finance to micro and small business units for income-generating activities. The Stand-Up India Scheme supports Scheduled Caste, Scheduled Tribe and women entrepreneurs through loans for greenfield projects in manufacturing, trading, services and agriculture-allied activities.
    July 21, 2026
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    Foreign exchange contravention liability requires evidence that the person was responsible for the overseas transfer in question.
    Foreign exchange transfer for the 2009 South Africa cricket tournament was examined under the Foreign Exchange Management Act after funds were moved to an overseas entity without prior Reserve Bank approval. The appellate tribunal set aside the penalty imposed on Lalit Modi, finding no material establishing that he was in charge of the relevant affairs or personally responsible for the alleged contravention. Liability for a foreign-exchange contravention must rest on evidence connecting the person proceeded against with responsibility for the impugned transaction.
    July 21, 2026
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    Rural infrastructure financing under RIDF supports irrigation, roads, water supply, cooperative digitisation, producer organisations and climate-resilient livelihoods.
    Rural Infrastructure Development Fund financing supports rural infrastructure in Haryana, including irrigation, roads and drinking-water assets. Rural cooperative strengthening includes digitisation and financial viability of Primary Agricultural Credit Societies, alongside promotion and financial support for Farmer Producer Organisations. Climate-resilient measures include watershed development, groundwater management, micro-irrigation, direct seeding of rice and vegetable clusters, supplemented by livelihood training for rural women and agricultural lending and project-appraisal support.
    July 21, 2026
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    Supreme Court proceedings address juvenile adult trials, insolvency, electoral representation, environmental funds and foreign-exchange complaint requirements.
    Supreme Court proceedings covered election representation, criminal justice, insolvency and regulatory compliance. The Court considered challenges concerning political-party merger approval, separate insolvency proceedings for group entities, and espionage charges. It sought responses on an appeal mechanism for persons excluded from the National Register of Citizens and alleged non-utilisation of environmental relief funds. Criminal matters included medical assessment for interim bail, a fresh trial in a blast case, and the principle that a juvenile accused of murder may face adult trial where statutory conditions for a heinous offence are met.
    July 21, 2026
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    Digital lending safeguards require verified app associations, responsible recovery, data privacy, grievance redressal and reporting channels against illegal loan apps.
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    July 21, 2026
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    Authorised Dealer Category-II remittances expand to specified trade and family-maintenance payments under the revised FEMA framework.
    FEMA framework revisions described as effective from May 2026 expand Authorised Dealer Category-II activities to include specified trade remittances and family-maintenance remittances, subject to the applicable RBI and FEMA framework. EbixCash World Money Limited states that its perpetual AD-II licence carries this expanded scope. The release describes a non-bank channel for MSME and SME cross-border payments, supported by Nostro-account settlement, remittance and travel-card services, and technology-enabled compliance measures including document verification, sanctions screening, fraud detection and transaction monitoring.
    July 21, 2026
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    Foreign investment regulation: Draft rules propose simpler, principle-based compliance and clearer separation of procedural requirements from investment policy.
    Draft Foreign Exchange Management (Foreign Investment) Rules, 2026 propose a simplified, principle-based foreign investment framework. The proposals rationalise provisions, harmonise definitions, and separate procedural foreign-exchange requirements from foreign direct investment policy and sector-specific conditions. They aim to streamline procedures, reduce compliance burdens, enhance operational flexibility, and apply investor-neutral and investee-neutral provisions while preserving regulatory safeguards. The draft Rules remain subject to public consultation before finalisation.
    July 21, 2026
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    Prepaid payment instrument programme adds mobility and gift card capabilities with digital servicing subject to applicable programme conditions.
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    July 21, 2026
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    Free trade agreements and e-commerce export reforms expand preferential market access, address non-tariff barriers, and support small exporters.
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    July 21, 2026
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    Production Linked Incentive Schemes strengthen domestic manufacturing through investment support, export growth, employment generation, monitoring and eligibility reforms.
    Production Linked Incentive Schemes for 14 sectors promote domestic manufacturing, investment, exports, employment and global competitiveness. Overall coordination and monitoring rests with the Department for Promotion of Industry and Internal Trade, while sector-specific implementation is undertaken by the relevant ministries and departments. Implementation is periodically reviewed, with scheme modifications, rationalised guidelines, relaxation of specified eligibility conditions, project monitoring, stakeholder consultation and inter-ministerial issue resolution used to improve uptake and strengthen domestic manufacturing ecosystems.
    July 21, 2026
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    Separate corporate insolvency processes remain contested over foreign asset treatment, specialised resolution needs, and creditors' commercial decision-making.
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    July 21, 2026
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    Drone technology collaboration promotes joint manufacturing, technology transfer, rural entrepreneurship and global market access through an integrated industrial ecosystem.
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    July 21, 2026
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    WTO trade policy review will assess India's trade measures, transparency framework, reforms, and responses to member questions.
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    July 21, 2026
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    Fisheries subsidy disciplines promote sustainable marine resource use while excluding aquaculture and inland fisheries from their scope.
    The WTO Agreement on Fisheries Subsidies disciplines subsidies concerning marine wild-capture fishing and fishing-related activities at sea. It prohibits subsidies linked to illegal, unreported and unregulated fishing and fishing of overfished stocks, promoting conservation and sustainable use of marine resources. Aquaculture and inland fisheries remain outside its scope. India's fisheries management framework is identified as supporting implementation while preserving policy space and safeguarding the interests of traditional and small-scale fishers.
    July 21, 2026
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    Revised Index of Core Industries adopts a new base year, adds iron ore, and revises sector measurement methodology.
    The revised Index of Core Industries series adopts 2022-23 as its base year, replaces the former series and expands coverage to nine industries by including iron ore. Steel is measured using gross production data, while only raw coal is retained to avoid double counting. Weights are derived from the corresponding Index of Industrial Production series and normalised to 100. A geometric-mean linking methodology connects the former and revised series. June 2026 provisional estimates show overall year-on-year ICI growth, led principally by iron ore and electricity.
    July 21, 2026
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    Risk-based export controls exposed alleged pharmaceutical diversion, prompting NDPS enforcement against transnational illicit opioid trafficking networks.
    Risk-based export controls and intelligence-led enforcement under the NDPS Act, 1985 addressed an alleged attempt to divert an export consignment of high-strength Tramadol Hydrochloride tablets into illicit international channels. Enquiries with the International Narcotics Control Board and competent authorities indicated that the declared destination had been misrepresented. The action involved seizure of the consignment and arrests of persons alleged to be connected with the export arrangement and conspiracy. The operation emphasises risk-based profiling, export-control scrutiny, intelligence sharing, and international coordination against pharmaceutical diversion and transnational drug trafficking.
    July 21, 2026
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    Trade tariffs on Canadian goods target alleged discrimination against American automobiles, alcohol and dairy products under trade law.
    United States trade action imposes tariffs on most Canadian goods, citing alleged discriminatory treatment of American automobiles, alcoholic beverages and dairy products. The measures apply to goods previously protected under the United States-Mexico-Canada Agreement, subject to exclusions for energy products, potash, fish and critical minerals. The stated grounds include Canadian retaliatory tariffs, restrictions on American alcohol sales, treatment of dairy imports, and tariffs on certain United States motor vehicles outside preferential trade treatment.
    July 20, 2026
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    Foreign exchange market movement saw rupee depreciation amid geopolitical risk, higher crude prices, stronger dollar conditions and equity outflows.
    Foreign exchange market movement saw the rupee depreciate by 6 paise to close at 96.36 against the US dollar, amid global risk aversion, higher crude oil prices, escalating US-Iran tensions and rising US Treasury yields. Market commentary indicated that anticipated Reserve Bank of India intervention could limit further downside. The report also noted a stronger dollar index, domestic equity-market declines, foreign institutional equity outflows, and an increase in India's foreign exchange reserves.
    July 20, 2026
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    Concessional foreign-exchange swaps incentivise fresh FCNR(B) deposits and foreign borrowings to strengthen balance-of-payments liquidity.
    The concessional foreign-exchange swap facility incentivises fresh FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings to strengthen the balance of payments and support foreign-exchange liquidity. Its availability is time-limited, with FCNR(B) deposits eligible until September 2026 and OFCB and ECB inflows eligible until December 2026. Reported inflows were primarily mobilised through FCNR(B) deposits.
    July 20, 2026
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    Geographical indication recognition protects traditional product identity while supporting rural entrepreneurship, quality maintenance, digital access and artisan market opportunities.
    Geographical Indication recognition is being pursued for additional traditional products from Jharkhand to protect product identity and expand protected regional products. GI recognition supports cultural heritage, rural entrepreneurship and market access for artisans and primary producers. Post-registration measures emphasise product-quality maintenance and digital e-commerce access, alongside skill development, marketing initiatives, rural haats and support for non-farm sectors.

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      Bihar: In Mokama, locals rue lack of jobs, education, but fear discussing 'politics'

      October 29, 2025

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      Mokama, Oct 29 (PTI) On the dusty city square in Bihar's Mokama, one of the most keenly watched seats where the fight is being seen as that between two 'Bahubali' politicians with criminal records, fear is palpable.

      In the fray here is Anant Singh, a local strongman who is the candidate from the ruling JD(U), pitted against Veena Devi, RJD candidate and wife of another 'bahubali,' Surajbhan Singh, who has been debarred from fighting elections.

      Locals are not keen on talking about their inclinations or the political scenario.

      At a shop that sells agricultural supplies, two men sitting on the counter refuse to talk about the elections.

      "All kinds of people come to our shop; what if we say something that does not go down well with someone? We would be in trouble," said the man, who did not want to be named.

      Asked about the general situation, expectations of people and issues faced by the locals, his companion rues that nothing has changed over the years; however, as he tries to list out issues, he is immediately stopped from speaking more.

      "We don't want to talk about any party," he said.

      A few hundred metres away, at the Jay Prakash Chowk, commonly called Prakash Chowk, the narrow two-lane road is choked with traffic, with battery rickshaws, which have fast grown to replace cycle-rickshaws. Even ambulances stuck on the congested road have no other option but to wait.

      Sitting at a sweet shop, Anand (name changed), a 22-year-old graduate preparing for competitive exams, does not want to talk about politics.

      "I have no idea about politics," he said.

      Asked about the state of education in Mokama, Anand said, "It's pathetic." "Classes are not held regularly, teachers are absent most of the time... But we have no other option".

      Their income from the shop is barely enough to make ends meet, and going out of Mokama for education is out of the question.

      "I have no other option but to prepare for government exams... But then paper leaks happen, exams are cancelled..." he said.

      When asked about his expectations from the upcoming Bihar Assembly polls, he, though refusing to comment on either of the candidates, said, "everyone wants change, better facilities, especially education, healthcare and employment".

      Nearby, sitting at a pan shop, Munna Kumar said Anant Singh is popular with people and also helps locals with their work.

      A customer at the shop praises him. "Ek number admi hai (He is a good person)," said the man who identified himself as Prakash Kumar.

      He comes from an agricultural family. The area has fertile agricultural land with pulses as the main crop, but a huge area remains inundated under water every year, known locally as 'tal'.

      An industrial city once, the now shut units here include a manufacturing unit of Bharat Wagon and Engineering Company Limited (BWEL), a factory of shoe manufacturer Bata and a unit of United Spirits, which was established by Vijay Mallya's father, Vittal Mallya.

      Locals are, however, guarded in expressing their opinion, even as they rue the lack of basics, such as education and healthcare.

      At a local grocery store, owner Amar Nath said unemployment is the biggest issue.

      "MLAs and MPs have not done anything for Mokama. Factories have all closed, there was a private hospital which also shut down... That is why Veena Devi is gaining popularity this time," he said.

      He said Mokama is peaceful, criminals have been controlled, and incidents of extortion, etc., are not happening anymore.

      "The 'rangdari' (extortion) has stopped... The area is peaceful now," he said.

      He, however, said that the opening of big malls around has affected their business.

      "Unemployment is very high. People do jobs that pay Rs. 10,000-15,000, but they feel at least they can live in peace," he said.

      A local, who works outside Bihar in a PSU, and did not want to be named, said people have little option because political parties back the 'bahubalis'.

      "What option do people have? Political parties give tickets to such candidates. They only want to win the election," he said.

      "I have been working outside Bihar for the last eight years... If there were employment opportunities here, I would not have left," he said.

      Karim, a cycle rickshaw puller, complains that there are still people who do not pay him after riding on his rickshaw.

      "I am still pulling this cycle rickshaw. Government should do something to get us an e-rickshaw... If I get some money, I can do something else," he said.

      Around 32 per cent of candidates in the fray in the first phase of the Bihar polls have declared criminal cases against themselves in their affidavits, while 27 per cent have declared serious criminal cases against themselves.

      At least 33 candidates in the first phase have cases related to murder.

      Surajbhan Singh, who has served as the MLA from Mokama in past, and also as a Lok Janshakti Party (LJP) MP, was debarred from contesting elections after conviction in a murder case.

      His wife, Veena Devi, who is fighting on an RJD ticket in this assembly poll, has served as an MP from Munger as an LJP leader.

      In the 2020 Bihar Assembly election, Anant Singh won the seat as an RJD candidate but was later disqualified after his conviction under the Arms Act in 2022. His wife, Neelam Devi, won the bypoll and subsequently shifted her loyalty to JD(U).

      Anant Singh is now contesting from JD(U) in Mokama this time. PTI AO AMJ AMJ

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