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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
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    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
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    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
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    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
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    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
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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
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    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
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    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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      Chile votes in presidential poll pitting communist against far right

      November 16, 2025

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      Santiago, Nov 16 (AP) Chileans voted for a new president and parliament on Sunday in a contest expected to favour the hard right as candidates play on popular fears over organised crime and immigration.

      It's the first of what's likely to be two rounds of presidential elections in the South American country, as polls show none of the candidates clearing the 50 per cent threshold needed to avoid a runoff scheduled for Dec. 14.

      On the surface, Sunday's election offers Chileans a dramatic choice between two extremes: Jeannette Jara, 51, a card-carrying communist and former labour minister in the left-wing government, and, among other right-wing contenders, José Antonio Kast, 59, an ultraconservative lawyer and former lawmaker who opposes abortion and vows to shrink the state.

      But with voters anxious about a rise in gang-driven crime that they blame on a recent surge of illegal immigration from crisis-stricken Venezuela, the campaign has steered the starkly opposed front-runners toward the shared theme of public insecurity.

      Polls opened at 8 am and closed at 6 pm, with results expected throughout the night.

      Two extremes pursue the centre -------------------------------------- In a feat of political gymnastics, the communist candidate has promoted fiscal restraint, and the Catholic father of nine has avoided talk of traditional family values.

      Both say it's a top priority to fight foreign gangs, like Venezuela's Tren de Aragua, whose recent push into Chile has fueled kidnappings, extortion and sex trafficking and shattered the country's self-perception as far safer and more stable than the rest of the region.

      “They're talking about things that all voters care about, they're vying for the centre,” said Rodolfo Disi, a political scientist at Chile's Adolfo Ibáñez University.

      Polling behind Jara and Kast in the eight-candidate field are Johannes Kaiser, 49, a radical libertarian congressman and YouTuber, and Evelyn Matthei, 72, a veteran centre-right politician.

      With the right-wing vote divided and President Gabriel Boric's centre-left coalition united behind its former minister, most experts see the charismatic Jara prevailing in Sunday's first round. Boric is constitutionally barred from seeking a consecutive term.

      But an initial win for Jara may yet spell her defeat in a runoff against a right-wing rival who promises a harsher security crackdown.

      “If (Jara) moves toward being tougher on crime, the right can always be tougher,” said Disi. “It's a losing game.” Mandatory voting is a wildcard ------------------------------------- This is the first time in Chile's history that all eligible citizens will be obliged to vote for president.

      The country recently reintroduced mandatory voting after ending the practice in 2012. Voter registration is now automatic, so the millions of people who never bothered to register, even when voting was compulsory, will be casting their first ballots in a presidential race. Those who fail to do so face fines up to USD 100.

      Analysts are divided over the potential effects.

      “It's a huge question,” said Robert Funk, an associate professor of political science at the University of Chile. “We have 4 million new voters. Who are they? Are they young people who like Jara? Are they people from marginal neighbourhoods attracted to Kast's hard-line stance on crime?” Chile will also renew the entire lower house of Congress and part of the Senate on Sunday.

      The country has 15.7 million eligible voters, of whom over 800,000 are immigrants with residency of five years or more and are exempt from mandatory voting. Polls show that foreigners overwhelmingly favour the right — especially Venezuelans who fled their repressive socialist government.

      But some immigrants have qualms this time about supporting a candidate who vows to round up and deport their compatriots.

      “I would vote for Kast, but it hurts to hear speeches like that,” said Juan Pablo Sánchez, a delivery app worker who migrated from Venezuela six years ago. “I don't know what to do.” High unemployment, sluggish growth -------------------------------------------- On the economy, Jara talks of boosting investment in infrastructure and keeping a lid on public debt — hardly the talking points of a communist firebrand.

      To address Chile's cost-of-living crisis — which in 2019 helped fuel the country's most significant social upheaval since the 1990 fall of Gen. Augusto Pinochet's dictatorship — she proposes a “living” monthly income of USD 800 through subsidies and minimum wage hikes.

      Taking a page from the playbook of President Javier Milei in neighbouring Argentina, Kast vows to shrink the public payroll and slash corporate taxes in a bid to revive a stagnant economy that has slowed the pace of job creation as immigrants flood the labour market.

      He says he'll cut more than USD 6 billion in spending over 18 months — something his conservative rival Matthei, an economist by training, has called “totally and absolutely impossible.” She proposes a more gradual fiscal adjustment over four years.

      Courting more radical voters disillusioned with Kast's moderation, Kaiser promises to slash up to USD 15 billion in spending and lay off 200,000 state workers.

      Competing for the harshest crackdown --------------------------------------------- All front-runners have taken an iron-fisted approach to illegal immigration. Chile's foreign population has doubled since 2017, with 1.6 million immigrants recorded last year in the nation of 18 million. An estimated 330,000 are undocumented.

      Kast wants to build a massive wall along Chile's northern border and deport tens of thousands of people who entered illegally. Kaiser wants to hold undocumented migrants in detention camps and bar their children from attending school. Matthei wants to deploy drones and more armed forces to the border.

      Jara, too, has sought to burnish her tough-on-crime credentials with promises to build new prisons and expel foreigners convicted of drug trafficking.

      This law and order election stands in stark contrast to Chile's last presidential poll in 2021, when voters outraged over widening inequality elected its youngest-ever president, a tattooed ex-student protest leader who promised sweeping social change.

      But economic constraints and legislative opposition ultimately restricted Boric's ambitions.

      “I want a better country — not just for me, but for my children,” said Alatina Vela´zquez, 20, a student at a recent Kaiser rally who said she lost two of her friends to gang violence in the last two years.

      “Right now, all that means is being able to leave class at night without looking over my shoulder.” (AP) SKS SKS SKS

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