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    CBN dismantles inter-state counterfeit drug network in Bihar under Operation Vajra; mastermind arrested
    DRI seizes quantities of gold; drugs, e-cigarettes and other contraband in pan-India Ops; 20 persons, including 5 foreign nationals, arrested
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    India-China trade through Shipli La resumes after six years
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    Andhra records 21 per cent growth in net GST collections till July
    J&K crime branch chargesheets accused in separate bank, insurance fraud cases
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    Gross and Net GST revenue collections for the month of July, 2026
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    West Bengal GST collection rises 2 pc in July to Rs 5,564 crore
    Gross GST collection kitty swells 15.4 pc to over Rs 2.11 lakh cr in July
    RBI says USD 40.82 bn mobilised under forex swap facility till Jul 31
    Sebi bars ZEEL for 2 months, Subhash Chandra, Punit Goenka for 1 year in Hyderabad land pledge case
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    August 3, 2026
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    Counterfeit drug enforcement targets illicit manufacture, storage and trafficking networks, with coordinated seizures and referral of non-narcotic stock.
    Counterfeit-drug enforcement under Operation Vajra addressed an inter-state network involved in the illicit manufacture, storage and distribution of narcotic drugs, psychotropic substances and spurious pharmaceutical products. Searches of unregistered godowns recovered narcotic products, unauthorisedly manufactured Buprenorphine injection ampoules, and counterfeit non-NDPS medicines. A farmhouse-based illicit manufacturing facility was dismantled, with machinery, chemicals and related materials seized under the NDPS Act, 1985.
    August 3, 2026
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    Anti-smuggling enforcement targets concealed gold, narcotics, protected products, prohibited e-cigarettes and restricted imports through coordinated intelligence operations.
    Intelligence-led anti-smuggling operations resulted in seizures of foreign-origin gold, narcotic drugs, hydroponic weed, protected wildlife and forest products, prohibited electronic cigarettes, and restricted poppy seeds and areca nuts. The operations identified concealment through fabricated baggage cavities, false cargo declarations, misdeclaration of origin, forged documentation, and concealment in transport vehicles. Poppy seeds are restricted under the Foreign Trade Policy and may be imported only subject to conditions concerning legally cultivated produce from designated countries and registration of import contracts with the Narcotics Commissioner.
    August 3, 2026
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    Tax devolution advance instalment strengthens State finances for accelerated capital and developmental expenditure through distribution of Union tax proceeds.
    Tax devolution was released to State Governments as an additional advance instalment alongside the normal monthly devolution schedule. The fiscal transfer shares net proceeds of Union taxes and duties with States, with the stated purpose of strengthening State finances and supporting accelerated capital and developmental expenditure. The release includes a State-wise distribution of tax-devolution proceeds.
    August 3, 2026
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    Financial performance reporting highlights revenue and EBITDA growth, garmenting recovery, retail optimisation, ESG commitments, and forward-looking risk disclosures.
    Financial performance reflects growth in total income and EBITDA, with improved margin, reduced net working-capital days, and a net-cash position. Branded textiles and high-value cotton shirting reported lower revenue due to the prior-year base effect, while branded apparel grew but faced lower margin from channel mix. Garmenting improved through order-book execution, tariff rationalisation, and new global clients. ESG priorities include female representation, waste-management initiatives, renewable energy, emissions reduction, and workplace safety. Forward-looking statements remain subject to regulatory, political, economic, and technological risks.
    August 3, 2026
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    Foreign exchange market support strengthens the rupee as lower crude prices, portfolio inflows and reserve growth improve sentiment.
    Foreign exchange market conditions supported an early appreciation of the rupee against the US dollar, attributed to lower global crude oil prices, a weaker dollar, sustained foreign portfolio inflows, higher foreign exchange reserves, and Reserve Bank of India presence in the foreign exchange market. Domestic equity market gains and net foreign institutional equity purchases were also identified as supporting factors.
    August 2, 2026
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    Gold smuggling detection targets sophisticated concealment methods through strengthened passenger profiling, intelligence gathering and coordinated investigations into organised networks.
    Gold smuggling detection at Kerala airports led to multiple seizures, registration of cases and arrests in alleged smuggling attempts. Organised networks reportedly use gold in paste or compound forms concealed in clothing, body cavities, aircraft seats and other unconventional locations. Enforcement measures include strengthened passenger profiling, intelligence gathering and inter-agency coordination, while investigations continue to identify associated syndicates and financiers.
    August 2, 2026
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    Offshore exploration funding supports deepwater drilling, shared infrastructure and seismic data to strengthen domestic hydrocarbon production potential.
    The Samudra Manthan National Offshore Exploration Scheme provides direct budgetary support for high-risk deepwater and ultra-deepwater exploratory drilling, subject to cost-sharing and per-well limits. Support is available to eligible operators holding or securing exploration acreage. The scheme also funds offshore data acquisition and shared subsea, receipt and processing infrastructure through a Common Hub Infrastructure model. It is intended to promote risk exploration, improve commercialisation of offshore discoveries and strengthen domestic hydrocarbon production potential within the existing exploration and licensing framework.
    August 1, 2026
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    GST compliance enforcement combines taxpayer refunds, analytics-based fraud detection, cancellation of fake registrations, and recovery of outstanding VAT arrears.
    Punjab attributed increased GST collections to voluntary compliance, intelligence-based enforcement and technology-driven tax administration, while facilitating compliant taxpayers through timely GST refunds. Data analytics, risk profiling and field verification were used to identify tax evasion, bogus billing, fake input tax credit networks and misuse of the GST registration framework. Measures included penalties, cancellation of fraudulent registrations and recovery of long-pending VAT arrears through attachment and auction of defaulters' properties.
    August 1, 2026
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    Cross-border barter trade resumes through Shipki La, subject to permitted goods, time limits, and import-export compliance requirements.
    Cross-border barter trade through Shipki La between India and Tibet resumed after a six-year interruption. Traders may exchange specified goods under a barter arrangement and must return within 72 hours. Traders are required to comply strictly with import-export regulations prescribed by the Union Ministry of Commerce, emphasising transparency and regulatory compliance. Expansion of permitted goods may be pursued through prescribed governmental and external-affairs channels.
    August 1, 2026
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    Export growth projections outline pathways for Odisha to expand merchandise trade through export diversification, MSME support and financing initiatives.
    Export growth projections for Odisha set out base, optimistic and ambitious scenarios through FY 2029-30, based respectively on historical growth, envisaged national export growth, and a larger share of national exports. Odisha's export basket remains concentrated in metals and minerals, led by aluminium products, with China as the principal export destination. Odisha Vision 2047 identifies exports, including MSME contributions, as an economic transformation driver, while export-financing and risk-mitigation initiatives aim to address financing gaps for exporters and MSMEs.
    August 1, 2026
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    GST compliance enforcement through AI analytics supported sustained net GST collection growth despite rate rationalisation reforms and reduced compliance costs.
    GST revenue mobilisation in Andhra Pradesh showed year-on-year growth in net GST and total commercial tax collections through July 2026, despite rate-rationalisation reforms. Revenue growth was attributed to AI-based scrutiny and analytics, machine-learning risk scoring, AI-driven IGST reversals, UPI-based enforcement analytics, data sharing, predictive analytics, registration verification, and Aadhaar-integrated expansion of the professional-tax base. These measures were stated to strengthen compliance, curb wrongful input tax credit claims, broaden taxpayer coverage, and improve revenue mobilisation.
    August 1, 2026
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    Economic-offences fraud chargesheets address alleged fictitious loans, forged insurance surrender papers, and diversion of bank and policy funds.
    Economic-offences chargesheets were filed in separate alleged bank and insurance fraud matters. The bank investigation alleged fictitious loan sanctions and overdrafts beyond delegated authority, involving cheating, forgery, use of forged documents and criminal conspiracy. The insurance investigation alleged that duplicate policy records and forged surrender documents were used to open a fraudulent account in a policyholder's name and divert policy proceeds. Records, witness statements, documentary evidence and forensic examination were cited in support of the allegations.
    August 1, 2026
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    PM Vishwakarma Scheme implementation expands artisan enrolment, skills, credit, e-commerce access and export facilitation while addressing documentation barriers.
    PM Vishwakarma Scheme implementation in Delhi facilitated artisan enrolment, application processing, skill training, toolkit distribution, loan access, e-commerce onboarding and export-related support. Awareness workshops and tele-calling campaigns were used to promote participation and follow up on benefits. Key implementation challenges concerned outreach to informal clusters, digital literacy, delays in Aadhaar and IEC documentation, and additional support for Divyang artisans. Planned action includes expanding workshops, scaling e-commerce onboarding, strengthening export facilitation and coordination with implementing agencies.
    August 1, 2026
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    Goods and Services Tax collections rise on domestic consumption and imports, while elevated import revenue prompts assessment of underlying drivers.
    Goods and Services Tax collections for July increased over the corresponding prior-year period, supported by domestic sales and imports. Gross receipts included Central GST, State GST and Integrated GST, with net GST revenue calculated after adjusting refunds. For the April-July period, gross and net collections also increased. Commentary linked domestic GST growth to consumption, formalisation and industrial activity, while identifying elevated import GST collections as an area requiring assessment of import composition, currency effects and volumes.
    August 1, 2026
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    GST revenue collections show provisional gross, refund and net revenue trends, with State-wise settlement and domestic collection data.
    GST revenue collections for July 2026 are reported provisionally through gross domestic and import revenue, domestic and export-related refunds, and net GST revenue after refunds. The data also sets out SGST collections and the SGST share of IGST settled to States and Union Territories, both monthly and cumulatively. State-wise domestic GST growth excludes GST on imported goods, while jurisdiction-wise data allocates collections between central and State formations and identifies CGST, SGST and IGST components.
    August 1, 2026
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    Bilateral trade cooperation expands through a Joint Trade Committee covering investment, critical minerals, healthcare, digital technologies and market access.
    Bilateral trade and investment cooperation between India and Rwanda is to be advanced through a structured Joint Trade Committee mechanism for reviewing commerce, diversifying trade, promoting investment, facilitating business engagement and addressing market-access and logistical issues. Priority cooperation includes critical minerals, pharmaceuticals and healthcare, agriculture and agro-processing, standards harmonisation, digital public infrastructure, fintech, cybersecurity, green mobility and renewable energy. Investment focal points will support engagement, while capacity-building assistance and close monitoring of the Agreed Minutes are intended to support time-bound implementation.
    August 1, 2026
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    GST collection growth in West Bengal continued year-on-year in July but remained below the national growth trend.
    West Bengal's July GST collection increased year-on-year and over the preceding month, marking a second consecutive month of annual growth. Official data also indicated that the State's annual growth rate was below the national trend, while gross domestic GST revenue excluding imports and overall gross GST collections including import-related taxes rose nationally during July.
    August 1, 2026
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    GST collection growth reflects higher revenue mobilisation from domestic transactions and imports, with refunds adjusted in net revenue.
    Goods and Services Tax collections increased in July, driven by higher revenue from domestic transactions and imports. The gross collection comprised Central GST, State GST and Integrated GST components. Refunds also increased during the month, and net GST revenue was determined after adjustment of refund outflows from gross tax receipts.
    August 1, 2026
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    Concessional foreign-exchange swaps encourage bank deposits and foreign borrowings to strengthen balance-of-payments resilience and foreign-exchange liquidity.
    The Reserve Bank of India introduced a concessional foreign-exchange swap facility to encourage foreign-currency inflows, strengthen the balance of payments and support foreign-exchange liquidity. The facility applies to fresh Foreign Currency Non-Resident (Bank) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. Foreign Currency Non-Resident (Bank) deposits constitute the principal source of inflows mobilised under the arrangement. The facility is available for specified time-bound periods, with a later availability period for Overseas Foreign Currency Borrowings and External Commercial Borrowings.
    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.

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      Ties with India witness a downturn as Bangladesh navigates turbulent 2025

      December 29, 2025

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      Dhaka, Dec 29 (PTI) Bangladesh's ties with India witnessed a downturn as it navigated a turbulent 2025 marked by political instability, economic strain and alleged persecution of minorities, leading to a diplomatic tussle between the two neighbours.

      The relationship between India and Bangladesh hit a rough note after the ouster of Prime Minister Sheikh Hasina, who fled to India in August last year following anti-government protests.

      She was sentenced to death in absentia by a tribunal this year for her alleged role in a deadly crackdown during the agitation.

      Dhaka summoned Indian High Commissioner Pranay Verma five times over various issues, while India summoned Bangladesh’s High Commissioner Reaz Hamidullah once to express concerns over security in Bangladesh.

      The transition, from what was widely regarded as an "India-friendly" Awami League government to Muhammad Yunus-led interim dispensation, significantly altered Bangladesh's diplomatic posture.

      Dhaka's engagement with Islamabad to deepen ties further complicated the regional equation.

      According to experts, Bangladesh's crisis was worsened by a lack of interest from major global powers in engaging with the Yunus-led interim government, leaving Dhaka diplomatically adrift.

      Analysts labelled 2025 as a “missing year” for Bangladesh due to the absence of an elected government. During this time, major embassies engaged more with political parties poised to form the next government rather than with the interim administration.

      Former ambassador Mahfuzur Rahman told PTI that Bangladesh went through 2025 "with no clear foreign policy directive" and "no important country engaged Dhaka with any deep thought".

      He said, by contrast, “despite signs of softness and maturity on Delhi's part to overcome the hostility in bilateral ties, Dhaka did not take the initiative or advantage to improve relations”.

      "It (Dhaka) rather showed an immature attitude, visibly to appease a domestic constituency,” he said.

      Rahman, who had served as the deputy high commissioner in Islamabad, said Pakistan pursued an active diplomacy with Bangladesh and Dhaka responded to it, "whether knowingly or unknowingly, the impact or the course it will lead to".

      The South Asian nation, with a population of around 175 million, has allegedly seen a growing shift toward religious conservatism amid a prolonged period of political instability.

      The closing months of 2025 witnessed the rise of anti-India forces, raising concerns across the region.

      Dhaka University international relations professor Imtiaz Ahmed told PTI that “state-complicity” played a crucial role in the rise of anti-India forces.

      Security analyst and 1971 Liberation War veteran Nasir Uddin said the evolving situation exposed Bangladesh to a “dangerous" geopolitical phase, particularly in its ties with major regional and international powers.

      “India is repeatedly expressing its concerns, but those in power in Bangladesh without any (electoral) mandate remain indifferent, much like the Pakistani rulers in 1971,” Uddin said.

      The violent, student-led agitation known as the July Uprising, which ousted Hasina's government in 2024, fundamentally altered Bangladesh's political landscape.

      However, analysts say, even over a year after the upheaval, Bangladesh showed a little improvement in stability, with political violence and economic crisis continuing to plague the nation.

      Political violence has increased after the Election Commission declared February 12, 2026, as the date for general elections.

      The killing of Sharif Osman Hadi, a leader of Inqilab Mancha known for his anti-India rhetoric, on December 18 triggered nationwide protests and violence.

      A few days later, another student leader, Motaleb Shikder, was shot in the head.

      Rehman Sobhan, who taught Chief Adviser Yunus at Dhaka University more than six decades ago, criticised the interim government, saying its failure had pushed Bangladesh into a “dangerous phase” where election candidates were becoming targets of violence.

      The year also reportedly saw a rise in attacks on Hindus and Liberation War veterans. Media organisations and shrines of Sufi saints were also attacked.

      Former prime minister and Bangladesh Nationalist Party (BNP) Chairman Khaleda Zia's critical health also remained in the news in 2025.

      With the 80-year-old BNP chief on a ventilator, attention increasingly shifted to her son, Tarique Rahman, who returned from London ahead of the polls after over 17 years in self-exile. Rahman's arrival energised BNP supporters.

      With the Awami League absent from the political scene, BNP has emerged as the principal political force, while Jamaat-e-Islami positioned itself as a key rival by forging alliances with other fringe groups. The Yunus-led government has banned the Awami League from contesting the elections.

      Adding a new dimension to the electoral arena was the emergence of several student-led political parties, including NCP and Inqilab Mancha, born out of protest movements.

      Yunus was appointed head of the interim administration, backed by the Students Against Discrimination (SAD) platform. In February, a major offshoot of SAD launched the National Citizen Party (NCP).

      Senior journalist Mozammel Hossain Manju said the forces that ousted the previous regime could themselves face decline, referring to the NCP.

      On the economic front, Bangladesh grappled with slower growth, high inflation, subdued investment and rising unemployment through 2025. Observers linked these challenges to political instability since 2024.

      In December, National Board of Revenue Chairman Md Abdur Rahman Khan warned that Bangladesh has slipped into a “debt trap”, with debt servicing becoming the second-largest budget expense and the tax-to-GDP ratio falling to around seven per cent from 10 per cent.

      Yunus had promised to establish a corruption-free state; however, in recent months, allegations of corruption within the interim administration have increasingly surfaced in public discourse.

      As 2025 draws to a close, Bangladesh stands at a critical juncture, grappling with political uncertainty, economic crisis and strained ties with its closest neighbour. PTI AR SCY ZH RD RD RD

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