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    Current account deficit widens to USD 6.2 bn in Jun: RBI data
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August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
August 13, 2026
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Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
August 13, 2026
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Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
August 13, 2026
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Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
August 13, 2026
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Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
August 13, 2026
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Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.

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A Must-Visit Cultural Experience This Season!

December 24, 2025

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The 13th Sargaalaya International Arts & Crafts Festival Begins December 23, 2025 Iringal | Kozhikode, Kerala, India (NewsVoir) If there is one cultural destination in South India that deserves a place on every traveller’s calendar this season, it is the 13th Sargaalaya International Arts & Crafts Festival (SIACF). From December 23, 2025, to January 11, 2026, Sargaalaya Kerala Arts & Crafts Village transforms into a living, breathing celebration of art, heritage, flavour, and community—an experience that is as inspiring as it is unforgettable.

Recognised as South India’s premier crafts festival, SIACF 2025 is expected to welcome over two lakh visitors, making it not just an exhibition, but a cultural phenomenon. Organised by Sargaalaya Kerala Arts & Crafts Village and managed by the legendary Uralungal Labour Contract Co-operative Society (ULCCS Ltd.), the festival continues to set benchmarks in responsible tourism and cultural excellence.

Where the World’s Crafts Come Together What makes SIACF truly extraordinary is its global soul rooted in Indian tradition. The 2025 edition brings together nearly 200 master artisans from 18+ Indian states, alongside celebrated craft practitioners from Belarus, Egypt, Iran, Israel, Jordan, Kazakhstan, Nepal, Russia, Sri Lanka, Syria, Tajikistan, Thailand, Uganda, Uzbekistan, and Taiwan.

Walking through SIACF feels like travelling across continents—each stall revealing a story, a heritage, and a human touch that no machine can replicate. For anyone who values authenticity, craftsmanship, and cultural depth, this is an experience that simply cannot be missed.

An Immersive Festival, Not Just an Exhibition SIACF 2025 is thoughtfully curated to offer far more than shopping. Visitors are invited to explore beautifully designed Handloom and Craft Theme Arenas, with special emphasis on Geographical Indication (GI)–tagged products, making it a rare opportunity to witness India’s protected craft legacies under one roof.

With over 100 exhibition and trade stalls, including works by National and State Award–winning artisans, the festival offers an unparalleled chance to engage directly with creators and take home pieces of living heritage.

Adding depth to the experience are the Tourism Expo and Tourism Talk Shows, where ideas, innovation, and the future of creative tourism come together—making SIACF equally compelling for professionals, students, and cultural thinkers.

Fashion, Flowers, Food & Festivity From elegance on the ramp to colour in full bloom, SIACF 2025 celebrates lifestyle in its most artistic form. Handloom Fashion Shows and Children’s Fashion Shows bring textiles to life, while the Flower Show adds a visual spectacle that delights all ages.

No visit to SIACF is complete without indulging in the much-loved Kerala Food Festival—a culinary journey through authentic local delicacies, enriched with regional flavours from states like Rajasthan. Daily live cultural performances by renowned artists ensure that every evening at Sargaalaya feels festive, soulful, and memorable.

For those who enjoy leisure amidst nature, pedal and motor boating along the serene Moorad River offers a refreshing pause—making the festival a perfect blend of culture, relaxation, and adventure.

A Festival That Makes a Difference Beyond its beauty and scale, SIACF stands out for its purpose. As a flagship rural tourism initiative, the festival plays a crucial role in empowering artisans, sustaining endangered crafts, and contributing meaningfully to the local economy.

This vision is strengthened by the support of the Department of Tourism, Government of Kerala, NABARD, the Ministry of Textiles (through the Development Commissioners of Handicrafts and Handlooms), and the Indian Institute of Handloom Technology, Kannur—ensuring that every visit directly supports livelihoods and cultural continuity.

The Perfect Family & Travel Recommendation Whether you are a culture enthusiast, a conscious shopper, a family looking for a meaningful holiday outing, or a traveller seeking authentic Kerala experiences, SIACF 2025 is an unmissable recommendation. It is rare to find a destination that seamlessly brings together craft, cuisine, learning, entertainment, and nature—yet Sargaalaya does so effortlessly.

“Sargaalaya is not just a craft village; it is a celebration of human creativity and shared heritage,” says Team Sargaalaya. “Every visit helps preserve living traditions while empowering rural communities through responsible tourism.” About Sargaalaya Kerala Arts & Crafts Village Set across 20 acres in Iringal, Kozhikode, Sargaalaya Kerala Arts & Crafts Village is a flagship initiative of the Department of Tourism, Government of Kerala, established in 2011. Developed on a Responsible Tourism model, it provides a permanent creative home for over 100 master artisans and features 27+ eco-friendly cottages, live craft demonstrations, and cultural spaces.

Recipient of the National Tourism Award for Best Rural Tourism Project, Sargaalaya is widely regarded as one of Kerala’s most enriching cultural destinations.

Sargaalaya Arts and Crafts Village: Towards a Global Cultural and Experiential Destination Sargaalaya Kerala Arts and Crafts Village at Iringal, near Vatakara in Kozhikode district, is envisioned to be developed as a globally benchmarked cultural, experiential, and interpretative destination for Malabar. The proposed development reimagines Sargaalaya not merely as a craft village, but as an integrated cultural institution that interprets regional heritage, nurtures creativity, produces knowledge, and anchors a wider tourism ecosystem across North Kerala. The focus is on creating a living cultural landscape where heritage, contemporary practice, tourism, and community livelihoods intersect.

The development places strong emphasis on immersive visitor engagement through interactive craft zones, daily demonstrations, curated workshops, and guided interpretation. Craft spaces will be reconfigured to allow larger visitor participation, supported by a central craft emporium and dedicated workshops that enable skill development, innovation, residencies, and fair market access for artisans. These interventions ensure that crafts remain dynamic, living practices rather than static displays.

At the heart of the project is the Cultural Experience and Interpretation Centre, conceived as the primary narrative anchor for Malabar. Through curated exhibitions, multimedia installations, immersive digital environments, and interactive archives, the centre will present Malabar’s maritime history, social reform movements, resistance traditions, ecological knowledge, and cultural pluralism, offering visitors a coherent entry point into the region’s layered cultural landscapes.

A series of thematic developments will structure the expanded Sargaalaya ecosystem. The Literature City will position Malabar as a living literary landscape through writers’ retreats, multilingual libraries, translation and publishing labs, literary residencies, and immersive experiences linking literature with place, memory, and social history. The Kalari Village, rooted in the martial traditions of Kadathanad, will integrate training, performance, research, wellness, and interpretation through traditional arenas, therapy centres, and an interactive martial arts museum.

The project places strong emphasis on the documentation and preservation of performing arts, supported by digital archives, performance-capture studios, and immersive experience centres for art forms such as Theyyam, Kathakali, Kalaripayattu, and Mappila songs. A Living Heritage Programme will support artists through apprenticeships, fellowships, residencies, and contemporary collaborations, ensuring continuity alongside creative evolution.

Sargaalaya is envisioned as a year-round cultural destination with robust performance infrastructure, including open-air amphitheatres, indoor auditoriums, flexible venues, and artist residency facilities. Regular performances, curated weekend programmes, and four large-scale annual cultural productions will ensure sustained activation. A flagship attraction, Malabar Symphony, is proposed as a large-scale light-and-sound hybrid immersive storytelling experience narrating Malabar’s maritime history, resistance movements, ecological consciousness, and cultural evolution. Conceived as a thirty-five-minute production staged twice daily, Malabar Symphony is proposed to be developed in collaboration with leading national and international artists, with concept and direction by Revathy, screenplay and narrative by Shankar Ramakrishnan, music composition by A.R. Rahman, sound design by Resul Pookkutty, technical direction by Alphons, theatre direction by Royston Abel, animation and visual effects by Aravind, and voice performances by distinguished artists including Mammootty, Manju Warrier, Parvathy Thiruvothu, Anoop Menon, Sayonara Philip, and Prithviraj Sukumaran.

A dedicated Children’s Cultural and Experiential Zone will offer play-based learning rooted in Malabar’s cultural narratives and ecological contexts, integrating creative activity spaces, nature-linked exploration, and water-based learning experiences. Complementing this are structured workshops and creative learning programmes across crafts, music, theatre, movement, painting, and visual arts, catering to students, artists, tourists, and cultural professionals.

The development adopts a hub-and-spoke tourism model, positioning Sargaalaya as the central orientation and interpretation hub for integrated cultural, riverine, coastal, literary, martial, and culinary circuits across Malabar. River-based journeys and water experiences will function as experiential corridors, foregrounding ecology, heritage, and local livelihoods.

The ecosystem further includes curated food tourism and culinary experiences, including festivals and a floating restaurant rooted in Malabar cuisine; a handloom, design, and retail zone supporting innovation and contemporary applications of traditional textiles; a vibrant flea market strengthening the informal cultural economy; and facilities for social, cultural, and community events, conferences, exhibitions, destination weddings, and themed cultural ceremonies.

To enable deeper immersion, the project proposes on-site accommodation and stay facilities designed in harmony with the landscape and local architectural traditions, supporting multi-day cultural tourism, artist residencies, research stays, and family travel. Through this integrated approach, the upcoming phase of Sargaalaya positions culture as core infrastructure for development, envisioning a globally relevant model for experiential, responsible, and knowledge-driven cultural tourism that interprets Malabar for contemporary and international audiences.

Website: www.sargaalaya.in Instagram: Sargaalaya – Kerala Arts & Crafts Village Iringal About ULCCS Ltd.

Founded in 1925 by social reformer Vagbhatananda Guru, the Uralungal Labour Contract Co-operative Society Ltd. (ULCCS) is among India’s most respected worker cooperatives. With 18,000+ employees, 7,500+ completed projects, and global recognition—including a World No. 2 ranking in the Industry & Utilities sector by the World Cooperative Monitor for 3 years—ULCCS stands as a UN-recognised model for ethical, inclusive, and quality-driven development.

If you are looking for one unforgettable cultural recommendation this season, SIACF 2025 at Sargaalaya is it.

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

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