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    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
    ED attaches Rs 94 crore in foreign bank account in fraud case against Delhi-based rice firm
    Ensure uniform deposit rates across all branches: RBI tells banks
    PM takes stock of geo-political situation, safety of seafarers, supply chain constraints
    Delhi govt to provide property Aadhaar cards; bring Land Records Bill: CM Rekha Gupta
    CCS discusses global security situation, supply chain constraints
    US economy grows a sluggish 1.5% second-quarter with inflation remaining stubbornly high
    Gold rises Rs 1,000 to Rs 1.48 lakh/10g on fresh retail buying
    DFS Launches Protection & Indemnity Insurance Product under Bharat Maritime Insurance Pool (BMIP)
    Investec Selects Infosys Finacle SaaS Platform on Microsoft Azure for Digital Banking Transformation
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    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
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    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
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    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
    July 30, 2026
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    Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
    Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
    July 30, 2026
    Show AI Summary
    Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
    Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
    July 30, 2026
    Show AI Summary
    Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
    Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
    July 30, 2026
    Show AI Summary
    Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
    The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
    July 30, 2026
    Show AI Summary
    Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
    Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.
    July 30, 2026
    Show AI Summary
    Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending.
    United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
    July 30, 2026
    Show AI Summary
    Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty.
    Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
    July 30, 2026
    Show AI Summary
    Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity.
    Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
    July 30, 2026
    Show AI Summary
    Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations.
    Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.

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      Chile's hard-right holds upper hand as presidential election goes to tense runoff

      November 17, 2025

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      Santiago (Chile), Nov 17 (AP) A hard-right former lawmaker and admirer of US President Donald Trump held the upper hand as Chile headed to a polarising presidential runoff against a member of Chile's Communist Party representing the incumbent government.

      Jose Antonio Kast, an ultraconservative lawyer opposed to abortion and same-sex marriage, appears to be in pole position after nearly 70 per cent of votes went to right-wing candidates in Sunday's first round, as many Chileans worry about organised crime, illegal immigration and unemployment in one of Latin America's safest and most prosperous nations.

      Kast is a surprise front-runner who speaks fondly of aspects of the country's period of dictatorship and broke with the traditional conservative party to found his own Republican Party.

      He came in second with nearly 24 per cent of the vote after campaigning on plans to crack down on crime, build a giant border wall and deport tens of thousands of undocumented migrants.

      Jeannette Jara, a former labor minister in President Gabriel Boric's left-wing government, eked out a narrower-than-expected lead with 27 per cent of the vote. She to expand Chile's social safety net and tackle money laundering and drug trafficking.

      Neither contender received more than 50 per cent of the overall vote count, sending the poll to a second round of voting on December 14.

      Conservatives sweep in first round of voting ----------------------------------------------- The mood was ebullient at Kast's campaign headquarters early Monday, where young Chileans wrapped in national flags drank beer and rolled cigarettes as workers took down the stage where Kast had proclaimed a radical transformation in the country's security.

      “We needed a safe candidate, someone with a firm hand to bring economic growth, attract investment, create jobs, strengthen the police and give them support,” said Ignacio Rojas, 20. “Chile isn't safe anymore, and he'll change that.” The results seemed set to extend a growing regional shift across Latin America, as popular discontent with the economy simmers and right-wing challengers take over from leftist politicians who shot to power in the wake of the pandemic on lofty promises of social change and more equitable distribution of wealth, but largely failed to deliver.

      "Economies are not growing, there are no new jobs, and people remember that 10 years ago they used to pay lower prices for almost everything,” said Patricio Navia, a Chilean analyst and professor at New York University.

      “Voters are upset with governments all over the region,” he added.

      Conservatives led the pack in Chile's eight-candidate field, with populist businessman and celebrity economist Franco Parisi surprising pundits by securing 20 per cent of the votes and third place. Like Kast, he ran a tough law and order campaign, vowing to plant land mines along Chile's porous northern border to prevent people from crossing.

      Another 14 per cent of the votes went to Johannes Kaiser, a libertarian congressman and a former YouTube provocateur who campaigned as an even more radical alternative to Kast.

      Chile's traditional centre-right coalition landed in fifth place, with establishment candidate Evelyn Matthei winning 12.5 per cent of the vote.

      Conservative runners-up endorse Kast ------------------------------------------ Not all of the divided right is guaranteed to go to Kast. Several Kaiser and Matthei voters interviewed at polling stations on Sunday — including members of the LGBTQ community, women and atheists — said they'd refuse to support Kast, citing his deeply conservative Christian values.

      But it's also unlikely that voters who supported Kaiser's plans to deport undocumented migrants to prison in El Salvador, or Matthei's plans to consider bringing back the death penalty, would vote for a lifelong member of Chile's Communist Party.

      There were no other left-wing front-runners, as all six parties in Chile's governing coalition threw their weight behind Jara.

      After learning of the election results late Sunday, Matthei rushed to Kast's party headquarters to profess her support for her right-wing rival. “Chile needs a sharp change of direction,” she said.

      Kaiser also promised to back Kast, saying his libertarian party would "ensure that a sound doctrine and defence of freedom are not abandoned.” Parisi voters run the gamut, eschewing elites on the left and right. The political outsider was coy after the results came out, saying, “We don't give anyone a blank check." “The burden of proof lies with both candidates,” he said. “They have to win people over.” The region is trending right ------------------------------ Economic travails and fervent anti-incumbent sentiment appear to have fuelled a gradual pendulum swing away from the left-wing leaders who were ascendant across the region just a few years ago.

      In Argentina, radical libertarian President Javier Milei, elected in late 2023 on a vow to break with years of left-leaning populism, has dramatically cut public spending, doubling down on his close bond with Trump and reshaping Argentina's foreign policy in line with the US.

      Elections over the last year in Ecuador, El Salvador and Panama have kept right-wing leaders in office, while in Bolivia, restive voters outraged over a currency crisis punished the Movement Toward Socialism party and elected a conservative opposition candidate for the first time in nearly 20 years.

      The right's gains could buoy the US as it competes for regional influence with China, some analysts say, with a new crop of leaders keen for American investment. Chile is the world's largest copper producer and home to vast reserves of other minerals key to the global energy transition.

      Like many hopeful leftists four years ago, President Boric, a young former student activist elected on the heels of Chile's 2019 mass protests over widening inequality, pledged to raise taxes on the rich and adopt one of the world's most progressive constitutions, ran into major legislative opposition.

      That won't be the case for Kast if he wins.

      As results from parliamentary elections crystalised early Monday, it appeared that right-wing parties would hold a decisive majority in the 155-member lower house of Congress, a body that has skewed left since Chile's 1990 return to democracy. (AP) GRS GRS

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