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    11th Meeting of National Traders’ Welfare Board Convened in New Delhi
    DRI seizes 9.40 kg foreign-origin gold worth around Rs. 15 crore at Mumbai airport; three arrested
    DRI seizes over 125,000 kg foreign-origin smuggled areca nuts and 41,000 kg poppy seeds worth around Rs. 20.31 crore in Assam and Mizoram in a crackdo...
    Envision Energy Secures TÜV SÜD Certificate for Wind Farm Control System, Strengthening Long-Term Resilience for Future Energy Systems
    India's forex reserves fall USD 14.89 bn to USD 766 bn: RBI data
    No commitment given to bank unions on 5-day work week by Finance Ministry, say sources
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    Loyalty Juggernaut Advances Responsible AI with ISO/IEC 42001 Certification
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    From Digital Banking to Resilient Banking – Technology, Cyber Security and AI as Pillars of Trust - Address by Shri Rohit Jain, Deputy Governor at t...
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    K'taka Deputy CM Parameshwara rejects Opposition's allegation of 'bankruptcy'
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September 25, 2026
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Trader welfare policy discussions covered GST reform, digital commerce, finance access, export promotion, and coordinated institutional support.
Deliberations covered GST rationalisation, refund delays, audit duration, amnesty schemes, input tax credit anomalies and pending appeals, alongside proposed inclusion of traders in MSME facilitation committees, a centralised loan portal with a 30-day timeline, CIBIL score reforms and grievance helplines. Trader welfare measures considered timely contractor payments, safeguards against technical penalties, loan-repayment flexibility during lean periods and stronger Centre-State coordination.
September 25, 2026
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Gold smuggling through powdered gold concealed in food products led to seizure and arrests under customs law.
Intelligence-led interception and baggage examination identified foreign-origin gold converted into fine powder and mixed with packaged food products of similar colour, texture and consistency. Segregation and assaying yielded 9.40 kg foreign-origin gold, which was seized under the Customs Act, 1962. Questioning linked the passengers to the same organised gold-smuggling syndicate, and they were arrested under that Act.
September 25, 2026
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Customs seizure of suspected smuggled areca nuts and restricted poppy seeds followed intelligence-led cross-border enforcement operations.
Intelligence-led customs enforcement in Mizoram and Assam resulted in seizure, under the Customs Act, 1962, of suspected foreign-origin areca nuts and poppy seeds believed on preliminary inquiry to have been smuggled from Myanmar. Searches of locked, unattended godowns near the Indo-Myanmar border recovered the commodities, while interception of two trucks carrying poppy seeds without valid import documents led to seizure of the consignments and vehicles. Four persons connected with transportation of the poppy seeds were arrested.
September 25, 2026
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Industrial control system cybersecurity certification validates system-level protection across wind farm controls, networks, and lifecycle security services.
IEC 62443-3-3 Security Level 2 certification applies to a wind farm control system covering SCADA, PPC, PLC and industrial network devices. It assesses system-level security requirements, including the interaction of components, networks and security mechanisms within an overall industrial control environment. The cybersecurity framework also spans secure development, certified core control components, system-level protection, and security integration and maintenance services across the lifecycle of wind energy technologies.
September 25, 2026
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Foreign exchange reserve composition reflects a weekly decline driven by foreign currency assets despite a modest gold increase.
India's foreign exchange reserves declined by USD 14.881 billion to USD 765.901 billion for the week ended 18 September 2026. The contraction was principally driven by a reduction in foreign currency assets, which also reflect valuation effects from movements in non-US reserve currencies. Gold reserves increased, while Special Drawing Rights decreased and the reserve position with the International Monetary Fund remained reported separately.
September 25, 2026
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Five-day banking proposal remains under consideration amid strike plans and measures for uninterrupted banking and advance disbursements.
Five-day banking remains under governmental consideration, with no Finance Ministry commitment to implementation. Unions linked the proposal to the 12th Bipartite Settlement/9th Joint Note, which contemplated extended Monday-to-Friday working hours. Family pension revision and a pension option for resignees were identified as addressed, while withdrawal of the Performance Linked Incentive scheme remains in abeyance. Public sector banks were instructed to remain open on the preceding Sunday, and central government salaries, wages and pensions were directed to be disbursed in advance.
September 25, 2026
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Alternative fuel transition promotes ethanol, electric and hydrogen mobility to reduce imports, pollution, and strengthen farm income.
Alternative-fuel and public-transport measures seek to reduce dependence on imported petroleum, curb air pollution, and support farmer income and employment. Ethanol is positioned as a farm-income source through increased demand and returns for maize growers, alongside electricity, hydrogen and waste-derived CNG. Development and introduction of flex-fuel vehicles, using engines capable of operating on ethanol, electric tractors, hydrogen-powered vehicles and hydrogen buses form part of a cleaner-mobility strategy.
September 25, 2026
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Foreign-exchange market intervention expectations supported rupee appreciation amid improved risk sentiment, while importer demand and crude prices constrained gains.
Foreign-exchange market conditions supported a 19-paise appreciation of the rupee to 95.80 against the US dollar, aided by improved global risk sentiment and expectations of Reserve Bank intervention. Dollar demand from importers, high crude prices and US dollar strength constrained gains. Lower crude prices and dollar weakness could support the rupee, while geopolitical escalation may create pressure. Market participants expected intervention if the currency weakened toward 96.
September 25, 2026
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Credit health assessment combines score, repayment history, utilisation, accounts and enquiries to support informed borrowing and profile monitoring.
Credit health is broader than a numerical credit score and encompasses the way credit has been managed over time. Credit analysis requires a combined review of the score, repayment history, credit accounts, credit utilisation, credit history and credit enquiries. A credit report may identify management of EMIs and credit-card dues, existing borrowing obligations, use of revolving credit relative to available limits, and recent lender checks associated with credit applications. Incorrect or unfamiliar entries may be reviewed and, where necessary, raised with the relevant lender or credit bureau.
September 25, 2026
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Fuel-price mitigation measures use tax reductions, targeted subsidies and energy-security policies to ease pressure on households and energy-intensive industries.
European fuel-price intervention combines targeted subsidies, fuel-tax reductions, temporary regulatory flexibilities and energy-security investment to moderate the economic effects of sharply higher gasoline and diesel prices caused by disrupted supplies. Member States have temporary discretion to grant state aid to households and energy-intensive sectors, including agriculture, transport and fishing, and limited flexibility under EU spending rules for investments that improve energy security and reduce dependence on imported fossil fuels.
September 25, 2026
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AI management certification anchors responsible lifecycle governance, transparency, accountability, security, and human oversight for agentic loyalty systems.
ISO/IEC 42001:2023 certification applies to an Artificial Intelligence Management System governing AI development, deployment, oversight and continual improvement within the GRAVTY platform. The framework supports AI-related risk management, responsible governance, transparency, accountability, security and human oversight throughout the AI lifecycle. Its scope includes supervised and unsupervised learning models and large language models supporting personalised engagement, fraud management, loyalty intelligence, autonomous decision-making, operational automation and workflow support.
September 25, 2026
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Digital warehousing controls propose electronic tracking, secure transport, monthly returns, and risk-based compliance verification for warehoused goods.
Draft Warehousing Operations Regulations, 2026 would require public and private warehouse licensees to use the electronic portal and a digital warehouse management system for receipt, storage, transfers, removals and accounting of warehoused goods. Transport would generally require a one-time-lock and transit-risk insurance, subject to specified exemptions. Licensees would verify locks and goods, report discrepancies, maintain auditable electronic records, submit monthly returns, and permit removals for home consumption or export only upon electronic clearance orders. Non-confirmation, discrepancies and contraventions would trigger information demands, risk-based verification and action under the Customs Act.
September 25, 2026
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Technology risk governance requires banks to retain accountability, test resilience, and govern artificial intelligence before scaling financial services.
Technology risk governance must treat technology architecture as a first-order enterprise risk, alongside conventional financial risks, because the availability and integrity of core banking, payments, onboarding, credit, fraud-monitoring and reporting systems determine whether customers can access essential financial services. Banks may outsource technology functions but retain accountability for access controls, concentration, recoverability, data protection and exit options. Effective resilience requires secure architecture, asset visibility, timely remediation of vulnerabilities and legacy systems, identity and access management, effective controls, third-party oversight, post-incident learning, and regular recovery testing.
September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.

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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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