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    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
    Department of Commerce Holds Workshop on Trade and Sustainable Development Policy Landscape
    GeM Launches 10-Day Celebrations Ahead of 10th Foundation Day, Unveils Commemorative Logo
    All Indian exports of dual-use items comply with international obligations: MEA
    PM Modi to inaugurate Bhogapuram Airport in Andhra on Aug 1
    HIGHLIGHTS
    Closely monitoring: India on US bill seeking up to 100 % tariffs on purchasers of Russian oil
    Delhi HC seeks ED stand on Nayan Raheja's plea against money laundering case
    Rupee appreciates 7 paise to close at 95.43 against US dollar
    PM Modi, UK PM Burnham commit to harnessing full potential of mega trade deal
    ITC Q1 profit declines 15.6 pc to Rs 4,508.79 cr; non-cigarette FMCG posts robust growth
    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
    PM Modi speaks to UK counterpart Burnham
    Bank credit to industry records robust growth of 19.2 pc in June: RBI data
    Delhi protesters' fingerprints collected from stones for identification via Aadhaar: BJP minister
    Cabinet approves Rs 84,084-cr offshore exploration scheme; govt to fund up to Rs 650 cr per well
    India's forex reserves jump USD 6.12 bn to USD 682.35 bn
    Jharkhand signs pact with CSC eStore to make SHG products made by women available online
    APEDA Facilitates First-Ever Air Shipment of Karnataka's Neelam and Totapuri Mangoes to the Maldives
    Favara-UPI Cross-Border Payment Corridor Goes Live Between Maldives and India
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    August 1, 2026
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    Unauthorised pledge of listed-company land triggered securities-market bars for disclosure failures and misuse of management authority.
    Unauthorised pledge of ZEEL's Hyderabad land as security for loans obtained by promoter-linked entities was treated as a related-party transaction lacking prior audit committee approval. ZEEL failed to disclose the land's deployment in its financial statements. Its Chairman Emeritus was stated to have transferred title deeds by falsely representing management approval and to have concealed the transaction's nature. Securities-market prohibitions and monetary penalties were imposed with immediate effect.
    August 1, 2026
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    Trade and sustainable development policy integrates carbon regulation, sustainability standards and domestic frameworks to strengthen trade competitiveness and preparedness.
    Trade and Sustainable Development policy was examined in relation to international trade disciplines, sustainability regulation and India's trade strategy. Discussions considered carbon markets, carbon pricing, carbon border adjustment measures, sustainability standards and regulatory cooperation, and their implications for trade and industrial competitiveness. Domestic mechanisms, including the Carbon Credit Trading Scheme, Indian Carbon Market, Extended Producer Responsibility framework, and accreditation and conformity assessment systems, were considered for strengthening preparedness for emerging sustainability-related trade disciplines.
    August 1, 2026
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    Digital public procurement engagement begins with stakeholder events promoting transparent, efficient and inclusive marketplace governance.
    Government e-Marketplace launched ten-day celebrations preceding its tenth Foundation Day, including a commemorative logo, stakeholder events and recognition of employees, buyers and sellers. The programme begins a year-long nationwide outreach initiative bringing together buyers, sellers, policymakers, industry representatives and ecosystem partners through events, dialogues and collaborative platforms. Its stated focus is technology-enabled, transparent, efficient and inclusive public procurement.
    July 31, 2026
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    Strategic trade controls require dual-use exports to comply with national law and international obligations amid arms-transfer allegations.
    Strategic trade controls governing dual-use exports require Indian exports of dual-use items and technologies to comply with national law and India's international obligations. The stated framework applies to exports to various countries. In response to allegations concerning supplies to Israel, the position notes calls for an arms embargo covering direct or indirect transfers of arms and military material, including weapons, ammunition, parts and components, without determining the underlying allegations.
    July 31, 2026
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    Greenfield airport development under a public-private partnership advances licensed international passenger, cargo, logistics, and sustainable infrastructure.
    A greenfield international airport is being developed under a Public-Private Partnership and Design, Build, Finance, Operate and Transfer framework, with airport, aviation-hub, education and supporting infrastructure components. The airport has obtained an aerodrome licence and required safety, fire and environmental clearances. Passenger, airfield and terminal systems are designed for domestic and international operations. A cargo terminal with cold-chain facilities and integration with port, industrial-corridor and logistics networks are intended to strengthen exports and air-cargo logistics. Recycled-water use and LEED Platinum development standards form part of its environmental measures.
    July 31, 2026
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    Regulatory and legal developments cover trade measures, legislative action, offshore exploration support, court directions and platform algorithm scrutiny.
    The compilation reports proposed United States tariff measures concerning purchasers of Russian oil and gas, India-United Kingdom trade engagement, extension of farmer-support measures, and approval of offshore exploration support. It also covers passage of the Registration of Births and Deaths (Amendment) Bill, 2026, a privilege-motion notice, a criminal sentencing, and directions to appoint a nodal officer for families affected by the Russia-Ukraine war. Regulatory items include industrial credit data and examination of social-media algorithms, bias and public-order implications.
    July 31, 2026
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    Russian oil purchases may trigger proposed targeted tariffs, with periodic reassessment based on countries' purchasing behaviour.
    Proposed United States measures would authorise sanctions against Russia and persons supporting its war in Ukraine, while permitting targeted tariffs on imports from countries purchasing substantial volumes of Russian oil or gas or facilitating sanctions evasion. The framework identifies major purchasers and shadow-fleet facilitators for possible additional tariffs and provides for periodic reassessment and tariff adjustments based on purchasing behaviour. India stated that its energy-security policy rests on national priorities and diversified energy sources.
    July 31, 2026
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    Money-laundering proceedings face challenge over absent predicate offence, alleged lack of criminal intent, and treatment of related FIRs.
    Money-laundering proceedings linked to alleged diversion of homebuyer funds are challenged on the ground that no scheduled offence or criminal intent is attributable to the petitioner. The petitioner relies on his asserted exoneration in two predicate FIRs, where charge sheets did not name him, and settlement of the remaining FIR. Notice was issued for a response and status report, and the petitioner undertook to cooperate with the investigation.
    July 31, 2026
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    Rupee appreciation reflected foreign capital inflows and central bank support, tempered by crude prices and geopolitical tensions.
    Rupee appreciation against the US dollar was linked to sustained foreign capital inflows and Reserve Bank support through dollar selling. Higher crude oil prices, a stronger US dollar and geopolitical tensions in West Asia constrained further gains. A slightly positive near-term rupee bias was associated with softer dollar conditions, dovish US monetary expectations, favourable global markets and improved foreign inflows, while geopolitical risks remained relevant. Domestic equity indices rose, foreign-exchange reserves increased, and fiscal-deficit data showed the central government's position against its full-year target.
    July 31, 2026
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    India-UK trade agreement enables duty-free access and bilateral cooperation on investment, technology, and strategic partnership.
    The India-UK Comprehensive Economic and Trade Agreement provides zero-duty market access in the UK for nearly 99 per cent of India's exports and is intended to expand bilateral trade and investment opportunities. The governments committed to maximise its benefits through the Comprehensive Strategic Partnership, including cooperation on technology, innovation, security, clean energy, education and people-to-people links. Advanced technology collaboration, including artificial intelligence, is also contemplated.
    July 31, 2026
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    Excise duty increases on cigarettes pressured profitability, while calibrated pricing and FMCG growth supported market resilience.
    Excise duty increases on cigarettes affected consolidated profitability, prompting calibrated pricing and portfolio measures to protect market share and limit migration to illicit trade. The cigarette portfolio was re-architected across price points through value-accretive offerings and staggered pricing actions. Non-cigarette FMCG growth was supported by demand for packaged foods, dairy and personal-care products. Input-cost inflation was mitigated through inventory cover, commodity hedging and price-volume rebalancing amid crude-price volatility, supply-chain disruption and imported inflation concerns.
    July 31, 2026
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    One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
    The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
    July 31, 2026
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    Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
    The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
    July 31, 2026
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    Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
    Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
    July 31, 2026
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    Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
    Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
    July 31, 2026
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    Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
    The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
    July 31, 2026
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    Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
    India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
    July 31, 2026
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    Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
    Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
    July 31, 2026
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    Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
    Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
    July 31, 2026
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    Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
    Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.

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      Maharashtra 2025: Thackeray cousins’ alliance, Mahayuti gains in local polls hog limelight

      December 26, 2025

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      Mumbai, Dec 26 (PTI) Cousins Uddhav Thackeray and Raj Thackeray reuniting after 20 years, ahead of next month's civic polls, the Devendra Fadnavis-led Mahayuti government consolidating its grip on power, boosted by its performance in local elections, and attempts at opposition realignment marked the year in Maharashtra.

      Twenty years after a bitter Raj Thackeray quit the undivided Shiv Sena over differences with Uddhav Thackeray and formed the Maharashtra Navnirman Sena (MNS), the cousins on December 24 announced their alliance for the high-stakes Mumbai municipal corporation elections due on January 15, along with 28 other civic corporations.

      The BJP-led government, which completed one year in office on December 5 after its emphatic victory in the November 2024 assembly elections, largely maintained stability despite controversies, defections and periodic friction among alliance partners Shiv Sena and the Nationalist Congress Party (NCP).

      The ruling alliance bagged 207 posts of municipal presidents and 4,422 seats in the municipal council and nagar panchayat polls held in December, while the poor showing of the Opposition reflected its organisational weaknesses.

      The year began on a turbulent note with the murder of Massajog sarpanch Santosh Deshmukh in December last year sending political shockwaves across the state.

      The subsequent resignation of NCP leader Dhananjay Munde from the state ministry, following the arrest of his close aide and prime accused Walmik Karad in the sarpanch murder case, put the government on the defensive over the law-and-order situation.

      Another flashpoint emerged over the state government’s decision to make Hindi mandatory from Class 1, citing the National Education Policy. Facing widespread protests, the government rolled back the decision and announced a committee headed by economist Narendra Jadhav to examine implementation of the three-language formula.

      Despite these setbacks, the ruling Mahayuti alliance, comprising the BJP, Shiv Sena and NCP, continued to assert its dominance.

      During the year, as many as 43 runner-up candidates in last year’s assembly polls from the opposition Maha Vikas Aghadi (MVA) crossed over to the ruling camp, further weakening the opposition and strengthening Mahayuti’s hold across constituencies.

      The BJP emerged as the single largest party in the assembly with 132 seats, its highest-ever tally in Maharashtra, while allies Shiv Sena and NCP won 57 and 41 seats respectively, giving the coalition a commanding 235 seats in the 288-member legislative assembly.

      For the MVA, comprising the Shiv Sena (UBT), Congress and NCP (Sharad Pawar), 2025 was largely a year of recovery after the major setback in the assembly polls last year.

      The MVA struggled to project cohesion even as it attempted to capitalise on controversies involving the government.

      A notable political moment came when estranged cousins Uddhav Thackeray and Raj Thackeray shared a platform during protests against the Hindi language decision, the development widely seen as a tactical move for political survival.

      Raj Thackeray later joined an opposition protest against the Election Commission over alleged “vote theft”.

      However, the Congress kept its distance from the MNS, citing the latter’s anti-migrant rhetoric and inconsistent political positions.

      The year also witnessed communal tensions in Nagpur in March, following demands by right-wing groups over the removal of a structure linked to Mughal emperor Aurangzeb. The clashes, which left one person dead, drew sharp criticism from the opposition over alleged policing lapses.

      Caste-based mobilisation returned to the forefront as Maratha quota activist Manoj Jarange-Patil launched another statewide agitation, including a hunger strike in Mumbai. The government’s move to implement the Hyderabad Gazette, enabling Kunbi certificates for eligible Marathas, was criticised by OBC groups as an encroachment on their rights.

      The Mahayuti government focused on welfare schemes that had contributed to its electoral success, particularly the ‘Ladki Bahin’ scheme, which provides direct cash transfers to women.

      The opposition, however, accused the government of failing to fulfil promises such as raising the monthly assistance from Rs 1,500 to Rs 2,100 and implementing a farm loan waiver.

      Tensions within the ruling alliance surfaced repeatedly. Shiv Sena ministers briefly boycotted a Cabinet meeting in November, prompting Deputy Chief Minister Eknath Shinde to rush to Delhi for consultations with Union Home Minister Amit Shah.

      Friction also arose over the appointment of NCP leader Nawab Malik to a civic poll-related post and over seat-sharing for the municipal elections.

      On the economic front, the government projected confidence, with Chief Minister Fadnavis reiterating the goal of making Maharashtra a trillion-dollar economy.

      The state recorded Rs 1.64 lakh crore in FDI in 2024-25, a 32 per cent increase over the previous year, which the government described as the highest inflow in a decade.

      As 2025 drew to a close, the focus shifted to the long-pending local body elections, including the Brihanmumbai Municipal Corporation, widely regarded as Asia’s richest civic body.

      Congress announced it would contest the BMC polls independently, while Shiv Sena (UBT) signalled a preference for new faces after many of its corporators defected.

      Speculation over a possible Shiv Sena (UBT)-MNS alliance for civic polls added another layer of intrigue to Maharashtra’s fractured political landscape. The two parties finally announced their alliance on December 24.

      In July, a video capturing Shiv Sena MLA Sanjay Gaikwad assaulting a staff of the MLA canteen in Mumbai for serving him ‘stale’ food went viral, drawing criticism from both the ruling party as well the Opposition.

      Fadnavis condemned the action and Deputy CM Eknath Shinde issued a warning to the Buldhana MLA who belongs to his party.

      In December, the Supreme Court granted partial relief to NCP MLA and former minister Manikrao Kokate, staying his conviction in a cheating and fraud case though only to the extent that it will not lead to his disqualification from the legislative assembly.

      Kokate had approached the top court after the Bombay high court suspended his two-year jail sentence but refused to stay his conviction.

      He had petitioned the high court after a Nashik sessions court upheld the trial court’s February judgment convicting him and his brother in a fraud case dating back to 1995.

      The trial court found Kokate and his brother, Vijay, guilty of misusing a government housing scheme meant for economically weaker sections.

      The scheme, which operated between 1989 and 1992, was applicable only to those earning up to Rs 30,000 a year. The brothers were accused of submitting false affidavits to understate their income and were illegally allotted two government flats.

      In July, a video of Shiv Sena MLA and state minister Sanjay Shirsat, sitting in a room along with a partially opened bag containing what looked like bundles of notes went viral.

      The video surfaced a day after reports emerged of the minister facing scrutiny by the Income Tax Department for a significant increase in his declared assets from Rs 3.3 crore in 2019 to Rs 35 crore in 2024.

      Shiv Sena (UBT) MLC Anil Parab in July demanded the resignation of Maharashtra Minister of State for Home Yogesh Kadam, alleging that a dance bar in Kandivali was being operated under a licence held by his mother.

      In an apparent damage-control step, Kadam’s family surrendered the licence of the Kandivali bar.

      Former Lok Sabha Speaker and veteran Congress leader Shivraj Patil and former Maharashtra ministers Shalinitai Patil and Surupsinh Naik passed away during the year. PTI MR VT VT

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