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    DGFT Removes Physical Duty Payment Challans for Export Obligation Discharge Certificate Applications under Advance Authorisation and Export Promotion ...
    TRAI directs use of 1601-series for service, transactional calls by utilities, logistics cos
    Nagaland tax revenue rises to Rs 1,597 crore in FY'26
    India's Russian crude imports hit record for second straight month
    Stolen phone of 88-year-old leads Delhi Police to bust interstate cyber-fraud syndicate; 9 held
    Rupee falls 11 paise to close at 95.28 against US dollar on firm crude oil prices
    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
    Freedom to Spend Smarter: AU Small Finance Bank Credit Cards Bring Rewards, EMI Flexibility and Lounge Access to India''s Biggest Shopping Month
    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
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    August 10, 2026
    Show AI Summary
    Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
    Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
    August 10, 2026
    Show AI Summary
    Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
    The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
    August 10, 2026
    Show AI Summary
    GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
    GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
    August 10, 2026
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    Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
    Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
    August 10, 2026
    Show AI Summary
    Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
    Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
    August 10, 2026
    Show AI Summary
    Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
    The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
    August 10, 2026
    Show AI Summary
    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
    Show AI Summary
    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
    Show AI Summary
    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
    Show AI Summary
    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
    Show AI Summary
    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
    Show AI Summary
    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
    Show AI Summary
    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
    Show AI Summary
    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
    Show AI Summary
    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
    Show AI Summary
    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
    Show AI Summary
    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
    Show AI Summary
    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.

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      Study: Trust in GenAI surges globally and India shows high adoption with cautious optimism

      November 19, 2025

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      Despite 50% of Indian organizations having advanced data infrastructure, data centralization and governance are still among the top challenges for AI implementation. Mumbai, India (Nov 19, 2025): SAS, a global leader in data and AI, unveiled new research that explores the use, impact and trustworthiness of AI. The IDC Data and AI Impact Report: The Trust Imperative, commissioned by SAS, found that IT and business leaders report having greater trust in generative AI than any other form of AI.

      The global research exploring AI use and adoption also found that only 40% are investing to make AI systems trustworthy through governance, explainability and ethical safeguards, even though organizations prioritizing trustworthy AI are 60% more likely to double ROI of AI projects. Paradoxically, among those reporting the least investment in trustworthy AI systems, GenAI (e.g., ChatGPT) was viewed as 200% more trustworthy than traditional AI (e.g., machine learning), despite the latter being the most established, reliable and explainable form of AI.

      “Our research shows a contradiction: that forms of AI with humanlike interactivity and social familiarity seem to encourage the greatest trust, regardless of actual reliability or accuracy,” said Kathy Lange, Research Director of the AI and Automation Practice at IDC. “As AI providers, professionals and personal users, we must ask: GenAI is trusted, but is it always trustworthy? And are leaders applying the necessary guardrails and AI governance practices to this emerging technology?” “Indian business leaders are demonstrating a sophisticated view of AI,” said Noshin Kagalwalla, Vice President & Managing Director, SAS India. “Unlike many global counterparts who focus on cost savings, Indian organizations are 21% more likely to prioritize decision-making and show elevated interest in product innovation and process efficiency. Their lowest priority is personal productivity, which signals a strategic shift. AI is being seen not just as a tool for operational gains, but as a catalyst for core business transformation. This mindset, combined with a strong emphasis on trustworthy AI, is positioning India as a leader in responsible and impactful AI adoption.” Access the full research report here.

      The research draws on a global survey of 2,375 respondents conducted across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. Participants included a balanced mix of IT professionals and line-of-business leaders, offering perspectives from both technology and business functions.

      India’s current AI landscape reflects many of the global trends. The country’s AI maturity is being accelerated by government initiatives like the IndiaAI Mission and Deep Tech Fund, which are driving infrastructure development, domain-specific models and start-up financing. This public sector momentum is complemented by corporate giants and a thriving start-up ecosystem, positioning India as a key player in the global AI race.

      Emerging AI technologies evoke most trust Overall, the study found the most trusted AI deployments were emerging technologies, like GenAI and agentic AI, over more established forms of AI. Almost half of respondents (48%) reported “complete trust” in GenAI, while a third said the same for agentic AI (33%). The least trusted form of AI is traditional AI – less than one in five (18%) indicated complete trust.

      Even as they reported high trust in GenAI and agentic AI, survey respondents expressed concerns, including data privacy (62%), transparency and explainability (57%), and ethical use (56%). Despite their high adoption rates, Indian organizations, on average, have 8% less trust in GenAI than the global average. However, this skepticism didn’t lead to hesitation – instead, it prompted them to invest more in trustworthy AI to ensure GenAI works effectively. Other organizations with low trust in generative AI can learn from this approach: Critically assess the technology, identify trust gaps, and invest in solutions to close those gaps. This strategy can lead to faster adoption and greater business impact.

      Lagging AI guardrails weaken AI impact ... and ROI The study showed a rapid rise in AI usage – particularly GenAI, which has quickly eclipsed traditional AI in both visibility and application (81% vs. 66%). This has sparked a new level of risks and ethical concerns.

      Across all regions, IDC researchers identified a misalignment in how much organizations trust AI versus how trustworthy the technology truly is. Per the study, while nearly 8 in 10 (78%) organizations claim to fully trust AI, only 40% have invested to make systems demonstrably trustworthy through AI governance, explainability and ethical safeguards.

      The research also showed a low priority placed on implementing trustworthy AI measures when operationalizing AI projects. Among respondents’ top three organizational priorities, only 2% selected developing an AI governance framework, and less than 10% reported developing a responsible AI policy. However, deprioritizing trustworthy AI measures may be preventing these organizations from fully realizing their AI investments down the road.

      Researchers divided survey respondents into trustworthy AI leaders and trustworthy AI followers. Leaders invested the most in practices, technologies and governance frameworks to make their AI systems trustworthy – and appear to be reaping rewards. Those same trustworthy AI leaders were 1.6 times more likely to report double or greater ROI on their AI projects.

      Lack of strong data foundations and governance stall AI As AI systems become more autonomous and deeply integrated into critical processes, data foundations also become more important. The quality, diversity and governance of data directly influence AI outcomes, making smart data strategies essential to realizing benefits (e.g., ROI, productivity gains) and mitigating risks.

      The study identified three major hurdles preventing success with AI implementations: weak data infrastructure, poor governance and a lack of AI skills. Nearly half (49%) of organizations cite data foundations that are not centralized or nonoptimized cloud data environments as a major barrier. This top concern was followed by a lack of sufficient data governance processes (44%) and a shortage of skilled specialists within their organization (41%).

      Respondents reported the No. 1 issue with managing the data used in AI implementations to be difficulty in accessing relevant data sources (58%). Other leading concerns included data privacy and compliance issues (49%) and data quality (46%).

      In India, 50% of organizations report having advanced data infrastructure, yet data centralization and governance remain among the top three challenges. This paradox reflects a growing awareness: as data maturity increases, so does the complexity of managing it. The rapid adoption of AI is pushing Indian enterprises to pursue data excellence more aggressively, recognizing that strong data foundations are essential for trustworthy and impactful AI.

      “For the good of society, businesses and employees – trust in AI is imperative,” said Bryan Harris, Chief Technology Officer at SAS. “In order to achieve this, the AI industry must increase the success rate of implementations, humans must critically review AI results, and leadership must empower the workforce with AI.” About SAS SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.

      SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2025 SAS Institute Inc. All rights reserved.

      (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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