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    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
    RBI minutes: Governor Malhotra awaits more clarity on inflation, opts for rate hold
    Instant Credit Card Application With JioFinance: Step-by-Step Guide
    Union Minister of Commerce & Industry Shri Piyush Goyal leaves for Singapore for 4th India-Singapore Ministerial Roundtable and 4th India-Singapore Bu...
    IDFC FIRST Bank successfully accesses international debt capital markets with maiden US$500 million bond issuance
    Any attempt to defame CAS by manipulation will be dealt with sternly, warns Sebi's Pandey
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August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
August 19, 2026
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Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
August 19, 2026
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Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
August 18, 2026
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Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification.
Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
August 18, 2026
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Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities.
Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.
August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.
August 18, 2026
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Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning.
Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
August 18, 2026
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Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation.
India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.

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Customs & Trade

Tariffs, Russia, conflict with Pakistan, H-1B: When 2025 tested India-US ties

December 28, 2025

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New York/Washington, Dec 28 (PTI) The US and India ties in 2025 have been a rollercoaster ride as punitive and reciprocal tariffs, a conflict with Pakistan and stringent immigration policies strained and tested the bilateral relationship in a manner not seen in decades.

However, Prime Minister Narendra Modi’s visit to the US to meet President Donald Trump and the signing of the 10-year defence framework pact between the two countries were seen as the high points in the relationship.

The year began on an exemplary note with Modi’s visit to Washington, DC, for his first bilateral meeting with Trump in his second term in the White House in February.

Modi was only the fourth foreign dignitary - after leaders of Israel, Japan and Jordan - to meet Trump within weeks after his inauguration as 47th US President.

The meeting encapsulated the strengthening US-India strategic partnership.

Trump and Modi announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025, aiming to more than double trade to USD 500 billion by 2030.

A month earlier, External Affairs Minister S Jaishankar sat in the front row inside the US Capitol Rotunda when he attended Trump’s inauguration on January 21, representing the Government of India.

Hours later, the newly sworn-in Secretary of State Marco Rubio hosted Jaishankar, Japan's Minister for Foreign Affairs, Takeshi Iwaya and Australian Foreign Minister Penny Wong for the first Quad Foreign Ministers’ Meeting of the new Trump administration.

But as the months rolled on, bilateral ties that were going full steam ahead encountered stumbling blocks in the form of differences over tariffs and trade.

In his address to the Joint Session of Congress, Trump criticised India and other countries for the high tariffs they charged on American products, the first of the many statements he made over the course of the year slamming the high levies imposed by India.

While Trump described India as a "very high tariff nation”, members of his administration too did not hold back in their criticism, with his trade adviser Peter Navarro calling India the ‘Maharaja of tariffs’.

On April 2, which Trump proclaimed as ‘Liberation Day’, he slapped reciprocal tariffs on countries around the world and announced a 26 per cent “discounted reciprocal tariff” on India, half of the 52 per cent levies imposed by it on American goods.

However, Trump announced on various occasions that a trade deal with India would happen “soon”.

The two nations made "significant progress" towards a mutually beneficial bilateral trade pact when US Vice President JD Vance visited India and held wide-ranging talks with PM Modi.

Vance and Modi announced the Terms of Reference for the bilateral trade agreement between the US and India.

It was around the time that Vance was in India that a horrific terror attack took place on April 22 in Pahalgam perpetrated by The Resistance Front, a proxy of Pakistan-based terror group Lashkar-e-Taiba, in which 26 civilians were killed.

In retaliation, India launched Operation Sindoor targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir. On May 10, the fourth day of the conflict, Trump suddenly announced on his Truth Social page that the US had brokered a ceasefire between India and Pakistan.

And since May 10, Trump has now repeated the claim more than 70 times that he solved the conflict between India and Pakistan and that he used trade to bring the fighting to an end.

In June, Modi and Trump were scheduled to meet on the sidelines of the G7 Leaders’ Summit in Kananaskis, Canada, but Trump returned to Washington early. The two leaders, however, spoke on June 17, a 35-minute phone call.

Foreign Secretary Vikram Misri said that Modi clearly conveyed to Trump that at “no point” during the days following Operation Sindoor was there any discussion, at any level, on an India-US Trade Deal, or any proposal for a mediation by the US between India and Pakistan.

Trump has been critical of India’s purchases of Russian oil and, in August, imposed an additional 25 per cent levy on Indian imports, bringing the total tariffs imposed on India to 50 per cent, among the highest in the world.

US lawmakers have condemned the tariffs imposed by Trump on India, with Indian-American Congressman Raja Krishnamoorthi saying the levies place an "unnecessary strain” on Washington’s relationship with Delhi.

The Trump administration has also intensified its crackdown on immigration, both legal and illegal, imposing new and stringent restrictions on visas such as H-1B, which are used by a large number of Indian professionals to live and work in the US.

Describing abuse of the H-1B programme as a national security threat, Trump signed a proclamation imposing a USD 100,000 fee on new H-1B visas, a move that caused widespread panic, confusion and concern among Indian professionals.

Later, Trump also appeared to defend the H-1B visa programme, saying America has to bring in talent from around the world as it does not have “certain talents” in the country.

Even as Washington and New Delhi dealt with these complications, there were areas of cooperation between the two sides that stood out this year.

Highlighting the strong counter-terrorism cooperation, the US extradited Tahawwur Hussain Rana to India to face justice for his role in planning the 2008 Mumbai terror attacks. Further, the US designated The Resistance Front as a foreign terrorist organisation.

The two countries also signed a 10-year defence framework pact in October as a "signal" of growing bilateral strategic ties even as Washington vowed to work closely with New Delhi to ensure a free and open Indo-Pacific.

Defence Minister Rajnath Singh and US Secretary of War Pete Hegseth signed the framework agreement for the 'US-India major defence partnership' pact following their wide-ranging talks in Kuala Lumpur amid efforts by the two sides to repair ties.

Despite challenges in bilateral ties, conversations between Trump and Modi underline the strategic importance of the relationship.

Modi recently said he had a "very warm and engaging conversation" with President Trump, and they reviewed the progress in bilateral relations and discussed regional and international developments.

"India and the US will continue to work together for global peace, stability and prosperity,” Modi said.

Trump, who has described Modi as a “great friend of mine” and “a great Prime Minister”, has indicated he could travel to India next year.

There is bipartisan consensus in Washington over the strategic and geopolitical importance of strong India-US ties. PTI YAS ZH RD RD RD

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