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    Rupee falls 8 paise to 95.25 against US dollar in early trade
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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
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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
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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
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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
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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
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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.
August 8, 2026
Show AI Summary
Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
August 8, 2026
Show AI Summary
Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
August 8, 2026
Show AI Summary
Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
August 8, 2026
Show AI Summary
Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
August 8, 2026
Show AI Summary
Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
August 8, 2026
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Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
Integrated IEPFA Portal 2.0 is proposed to modernise investor claim processing through digital KYC, pre-filled Form IEPF-5, entitlement search, and a simplified e-Verification Report filing workflow. Stakeholder feedback included Aadhaar eKYC address validation, KYC for authorised representatives, entitlement-letter validation checks, bulk DSC and eSign functionality, integration of approved IEPF Form-4 data, lower-value share valuation using NSE and BSE data, and alerts for frequent address changes to prevent fraud.
August 7, 2026
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Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
Foreign capital inflows supported a marginal strengthening of the rupee against the US dollar despite global risk aversion arising from uncertainty surrounding negotiations affecting the Strait of Hormuz. Higher crude oil prices and weak domestic equity sentiment remained relevant pressures. Near-term currency movement was expected to depend on developments in the negotiations, weekend decisions, US employment data, the dollar index, crude oil prices, and the reported increase in foreign exchange reserves.
August 7, 2026
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Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.

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Customs & Trade

HIGHLIGHTS

December 11, 2025

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New Delhi, Dec 11 (PTI) Following are the top stories at 9 pm: NATION DEL68 PM-LD TRUMP (8.12 PM)

PM Modi speaks to President Trump New Delhi: Prime Minister Narendra Modi on Thursday held a phone conversation with US President Donald Trump that focused on enhancing economic ties at a time the two countries are eyeing to seal a trade deal.

DEL55 EC-SIR-LD EXTEND (7.07 PM)

EC extends SIR timeline in 6 states, UTs at poll officers' urge New Delhi: The Election Commission on Thursday extended the timeline for Special Intensive Revision (SIR) in six states and Union territories following requests from the chief electoral officers.

BOM42 GA-LDALL NIGHTCLUB (9.00 PM)

Nightclub fire: Luthra brothers detained in Thailand; Delhi court denies them transit anticipatory bail Panaji/New Delhi: Gaurav and Saurabh Luthra, co-owners of ‘Birch by Romeo Lane’ nightclub in North Goa where a blaze claimed 25 lives, have been detained by the authorities in Thailand, officials said on Thursday, as a Delhi court rejected their transit anticipatory bail pleas citing the duo's conduct and the gravity of the offences.

CAL54 AS-ARUNACHAL-3RD LD ACCIDENT (8.27 PM)

18 from Assam killed, 3 missing as truck falls into gorge in Arunachal Tinsukia/Itanagar (Assam): At least 18 people from Assam's Tinsukia district were killed and three others are missing as the truck carrying them fell into a deep gorge in a remote and difficult terrain in neighbouring Arunachal Pradesh, officials said on Thursday.

CAL42 MN-PRESIDENT-LD CIVIC RECEPTION (6.58 PM)

Aware of Manipur people’s pain due to violence; govt committed to strengthen harmony: Murmu Imphal: President Droupadi Murmu on Thursday said she is aware of the Manipur people’s pain because of the ethnic violence, and assured them that the government is committed to strengthen harmony and ensure security.

DEL56 CONG-SHAH-NEHRU (7.15 PM)

'Outright lie': Congress slams Amit Shah for his 'vote chori' charge against Nehru New Delhi: The Congress on Thursday rebutted Home Minister Amit Shah's "vote chori" charge against Jawaharlal Nehru, saying the claim that he was made the prime minister despite Sardar Vallabhbhai Patel being the popular choice is a "lie" and a "figment of imagination".

DEL50 RSQ-MEA-LD SCAM CENTRES (6.21 PM)

Over 6,700 Indians rescued from Cambodia, Myanmar, Lao PDR: Govt data on scam centres New Delhi: The Centre on Thursday informed the Parliament that it has taken notice of instances of dubious firms involved in fake recruitment job offers, having lured Indian nationals mostly through social media channels to South-East Asian countries, and till date over 6,700 Indians have been rescued from Cambodia, Myanmar and Lao PDR.

MDS19 ISRO-SPACEPORT-NARAYANAN (6.52 PM)

Rockets will be launched from Kulasekarapattinam in TN from 2027: ISRO chief Tirunelveli (Tamil Nadu): Rockets will be launched from Kulasekarapattinam in Tamil Nadu from 2027, ISRO chairman V Narayanan said on Thursday.

CAL52 WB-2NDLD MAMATA GITA RECITAL (8.20 PM)

Bengal is not UP, won't allow this here: Mamata on assault on food vendors at Gita recital Krishnanagar: West Bengal Chief Minister Mamata Banerjee on Thursday tore into the BJP over the assault on two food vendors at a recent Bhagavad Gita recital event in Kolkata, asserting that the state would not tolerate intimidation, communal division or attempts to dictate what people should eat.

DEL49 FUGITIVE-ACTION (6.21 PM)

DG-IG police conference decides to tackle fugitives by revoking passports, sharing info with ED New Delhi: The recent meet of all-India police chiefs in Chhattisgarh has charted out three new measures to swiftly bring fugitives to justice which includes "promptly" revoking their passport and referring eligible cases to the ED for initiating proceedings under a 2018 law that allows confiscation of all assets of the offenders. By Neelabh Srivastava

DEL65 DOPT-GRIEVANCE-CAMPAIGN (8.08 PM)

Prashasan Gaon ki Ore: Doorstep public grievance resolution drive to run nationwide from Dec 19-25 New Delhi: The Centre will launch a week-long nationwide campaign from December 19 to 25 for the redressal of public grievances and improving public service delivery, an official statement said on Thursday.

DEL71 BJP-WB-SHAHJAHAN-WITNESS (8.36 PM)

Targeted attack: BJP on road accident involving witness in Sandeshkhali case in WB New Delhi: The BJP alleged on Thursday that it was not a road accident but a "targeted attack", orchestrated by now-jailed TMC leader Sheikh Shahjahan, that injured a prime witness in a case against him and killed his son in West Bengal.

LEGAL LGD23 SC-RIGHTS (6.36 PM)

Rights of individual always subservient to nation's interest: SC New Delhi: Rights of an individual are always subservient to the nation's interest, the Supreme Court said on Thursday, emphasising that the rights guaranteed under Article 21 of the Constitution must always be protected, but in cases where the country's security or integrity is called into question, that cannot be the sole ground for granting bail.

LGD37 SC-EVICTION-LAWS (8.11 PM)

Central law on eviction of unauthorised occupants prevails over state rent laws: SC New Delhi: In a significant verdict that may help public sector undertakings (PSUs) reclaim their properties, the Supreme Court held on Thursday that the 1971 Public Premises (Eviction of Unauthorised Occupants) Act prevails over state rent control laws.

LGD39 UP-COURT-CHINESE NATIONAL (8.39 PM)

UP: Chinese national sentenced to 1 year in jail for illegally entering India from Nepal Maharajganj (UP): A local court here on Thursday sentenced a Chinese national to one year of imprisonment for illegally entering India from Nepal.

BUSINESS DEL64 BIZ-LD US TRADE-GOYAL (8.00 PM)

If US happy with India's offer, Trump administration should sign trade deal: Goyal Mumbai: The US should sign the free trade agreement with India if Washington is happy with what has been offered by New Delhi, Commerce and Industry Minister Piyush Goyal said on Thursday.

DEL63 BIZ-ICAI (7.49 PM)

ICAI clears new global networking guidelines, changes to advertising norms for CA firms New Delhi: Chartered accountants' apex body ICAI has approved new global networking guidelines as well as changes to advertising guidelines, a significant move that will help create large homegrown domestic chartered accountant firms and compete at the global level.

FOREIGN FGN52 MEXICO-INDIA-TARIFFS (8.07 PM)

Mexico's Congress approves higher tariffs on goods from India, China and non-FTA nations Washington: Mexico's Congress has approved a bill that seeks to impose higher tariffs on imports from India, China, Brazil and several other countries with which the North American nation doesn't have free trade agreements.

FGN43 UN-INDIA-LD TALIBAN (6.01 PM)

India calls for ‘pragmatic engagement’ with the Taliban: Amb Harish tells UNSC United Nations: India told the UN Security Council that it calls for a “pragmatic engagement” with the Taliban as New Delhi underlined that a focus on only punitive measures will ensure a 'business as usual' approach. By Yoshita Singh

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