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    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
    NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform
    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
    JK marks maiden export of premium cherries, plums to Singapore
    Chhattisgarh govt departments owe Rs 3,117 crore in power bills, assembly told
    Rupee weakens 17 paise to settle at 96.42 against US dollar; loses 1.5 pc in four sessions
    India-UK CETA takes effect: First zero-duty Indian coffee, jewellery consignments reach UK shores
    Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon session
    Foreign assets, income details for 2022-24 now available under AIS on income tax portal
    L-G Manoj Sinha reviews donation management systems at J-K's Vaishno Devi shrine
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    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
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    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
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    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
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    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
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    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
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    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
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    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
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    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
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    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
    July 16, 2026
    Show AI Summary
    International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
    Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
    July 16, 2026
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    Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion.
    Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
    July 16, 2026
    Show AI Summary
    Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets.
    The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.
    July 16, 2026
    Show AI Summary
    Zero-duty India-UK trade under CETA begins with jewellery and coffee consignments, supported by exporter compliance guidance.
    India-UK CETA introduced a low- or zero-tariff regime covering about 99 per cent of tariff lines for Indian exports to the United Kingdom. Initial zero-duty jewellery and coffee consignments reached the UK under the agreement. CETA is intended to improve market competitiveness, strengthen supply chains and support businesses, exporters, importers and investors. A dedicated facilitation forum and a guide to UK import standards and regulatory requirements support Indian exporters, particularly small and medium enterprises, in navigating the post-CETA trading regime.
    July 16, 2026
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    Foreign investor tax exemptions on government securities are proposed to continue, supporting sovereign debt market liquidity and capital inflows.
    Income-tax exemption for foreign investors in government securities is proposed to continue through the Income-tax (Amendment) Bill, 2026, replacing the corresponding ordinance. The ordinance exempted interest income and capital gains from the sale, exchange or transfer of government securities by foreign investors, effective from 1 April. The measure seeks to attract foreign capital, deepen the sovereign debt market and improve liquidity amid global economic volatility. The legislative agenda also includes MSME reforms concerning delayed-payment redressal, enforcement of arbitral awards and State flexibility in constituting facilitation councils.
    July 16, 2026
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    Foreign asset reporting requires complete Schedule FA and Schedule FSI disclosures despite limited information displayed in the Annual Information Statement.
    Annual Information Statement records for eligible taxpayers include foreign assets and foreign-source income information received through the Automatic Exchange of Information framework. The information is intended to facilitate accurate tax compliance and is not a scrutiny or investigation mechanism. As the displayed data is limited to information received from partner jurisdictions and is not exhaustive, taxpayers must correctly and completely disclose all foreign assets and foreign-source income in Schedule FA and Schedule FSI, whether or not such information appears in the Annual Information Statement.
    July 16, 2026
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    Donation management safeguards require transparent accounting, secure precious-metal handling, audits and adherence to prescribed banking and statutory norms.
    Donation-management governance at the Vaishno Devi shrine was reviewed with emphasis on transparency, accountability and compliance with standard operating procedures. The review covered collection, counting, accounting, custody and utilisation of offerings, supported by verification procedures, surveillance, banking safeguards and periodic audits. Security protocols also govern the handling, storage, transportation, processing and refining of precious-metal offerings. The review took place amid a pending complaint alleging irregularities in silver offerings, with complete records sought regarding action taken.

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      Users are free to delete it, if they wish: Scindia as privacy row erupts on Sanchar Saathi directive

      December 2, 2025

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      New Delhi, Dec 2 (PTI) As a government order to manufacturers to preload a state-run cybersecurity app, Sanchar Saathi, on all phones kicked up a privacy row, Communications Minister Jyotiraditya Scindia on Tuesday appeared to soften the stance, saying users are free to delete it if they so wish, and that it will remain inactive till they register on it.

      The November 28 order from his ministry directed smartphone makers to pre-install the app on all new devices and push it through updates on older ones. Many opposition leaders and critics saw it as a snooping attempt, as they felt the app could listen to calls and monitor messages.

      Some phone makers, such as Apple, were reportedly opposed to the mandate. Sources said Apple would discuss the issue with the government and work out a middle path, as the order cannot be implemented in its current form.

      Scindia stepped in to diffuse the crisis and denied allegations that it was an app for snooping.

      "If you want to delete it, then delete it," Scindia told reporters outside Parliament.

      "But not everyone in the country knows that this app exists to protect them from fraud and theft." While the November 28 order stated that the makers have to ensure that the functionalities of the app are not "disabled or restricted", it wasn't immediately clear if the app will be embedded in the operating software or is proposed to be a secondary one.

      Tech experts said any app, if embedded in the operating system, cannot be deleted by users. Some secondary apps, while not being visible on the home screen, may continue to run in the background.

      Some experts point out that the Sanchar Saathi app, like most other apps, seeks access to call logs, phone camera, notifications, phone dialer app, and SMS.

      The move mimics a similar mandate issued by Russia in August, requiring a state-backed messaging app MAX to be pre-installed on all smartphones.

      Denying the Opposition's charges, Scindia asserted that there was no snooping or call monitoring through the app.

      "It is our responsibility to make this app reach everyone. If you want to delete it, then delete it. If you don't want to use it, then don't register it. If you register it, then it will remain active. If you don't register it, then it will remain inactive," he said.

      Minister of State for Communications Chandra Sekhar Pemmasani on Tuesday said that Sanchar Saathi app-related matters have been discussed with all mobile phone players in a working group, except Apple, as it did not participate in it.

      The minister told PTI that the Sanchar Saathi app is like any other app, which can be activated and deleted by consumers, and it is meant to ease reporting of online fraud and trace lost mobile phones, among others.

      An industry source said that Apple will discuss the order on Sanchar Saathi app installation and work out a middle path with the government.

      The company may not be able to implement the order in the current form, according to sources.

      The government maintains that the app is crucial to counter "serious endangerment" to telecom cybersecurity from duplicate or spoofed IMEI numbers, which enable scams and network misuse.

      IMEI or International Mobile Equipment Identity is a 14 to 17-digit number, unique to each handset, which is used to cut off network access for phones reported to have been stolen.

      "Everyone must have the right to privacy to send messages to family and friends without the government looking at everything," Congress General Secretary Priyanka Gandhi Vadra said, criticising the mandate for installing the app.

      As per the direction issued, all mobile phone companies are required to report compliance to the DoT within 120 days.

      Earlier in the day, Congress leaders criticised the order of the DoT to mandatorily install the Sanchar Saathi App in all mobile phones.

      Congress MP Renuka Chowdhury filed an adjournment motion notice in the Rajya Sabha, seeking suspension of business to discuss the government's latest directions on the Sanchar Saathi app.

      Congress General Secretary KC Venugopal had said on Monday that the right to privacy is an intrinsic part of the fundamental right to life and liberty.

      Scindia pointed out that the Opposition is just trying to find an issue out of nowhere and countered the allegation that it was an app for snooping.

      "This is a step towards public participation. In this, people should not object; people should welcome. On the basis of this, when you buy a mobile phone, on the basis of that, whether the IMEI number is fake or genuine, you can recognise it on the basis of the Sanchar Saathi app," the minister said.

      He said there have been more than 1.5 crore downloads of the Sanchar Saathi App. The minister said that to date, approximately 2.75 crore fraudulent mobile connections have been disconnected, and approximately 20 lakh stolen phones have been traced on the basis of public participation through Sanchar Saathi.

      The minister said approximately 7.5 lakh stolen phones have been returned to the user, and approximately 21 lakh phones have been disconnected on the basis of user recognition and reporting.

      He further said that on one side, the power of telecommunications is connecting citizens, and on the other side, there are forces who are misusing its power to commit fraud, steal money and mobile phones. The minister asserted that the app is meant to protect customers.

      "If an app is embedded in the operating system, then it cannot be deleted by users. Some apps that masquerade themselves as system app, even if deleted, can continue to run in the background. The Sanchar Saathi app, like most other apps, seeks user access to call logs, sms, phone camera and notifications. After a clarification from the Union Telecom Minister, we are yet to see any amended order to clarify that the app can be deleted," technology industry expert and Techshots CEO Akhilesh Shukla said.

      CUTS International, Director for Research, Amol Kulkarni, said, despite good intentions, the mandate to pre-install the Sanchar Saathi app on mobile handsets without any prior public consultation raises key concerns regarding expectations from citizens to blindly trust the government without questioning, and the inability of the government to suggest superior privacy-enhancing and choice-respecting alternatives.

      "There is no clarity on what happens if it is realised that Sanchaar Saathi collects more data than necessary, in violation of purpose limitation requirements of the Digital Personal Data Protection Act, many provisions of which are not applicable to the government," Kulkarni said. PTI PRS MBI ANZ CS MBI BAL BAL

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