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    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
    SC upholds NCLAT order setting aside CCI's Rs 301.6-cr penalty on Grasim Industries
    China's factory activity unexpectedly slips into contraction in July
    PM Modi to inaugurate Bhogapuram Airport on Aug 1 in Andhra Pradesh
    Rupee rises 20 paise to 95.30 against US dollar in early trade
    APEDA Facilitates First-Ever Sea Shipment of Value-Added Flavoured Makhana from Bihar to Canada
    Indian envoy meets Chinese commerce ministry official; Calls for enhanced market access
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    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
    Show AI Summary
    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
    Show AI Summary
    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.
    July 31, 2026
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    Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
    Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
    July 31, 2026
    Show AI Summary
    Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
    Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
    July 31, 2026
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    Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
    The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
    July 31, 2026
    Show AI Summary
    Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
    Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
    July 31, 2026
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    Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
    Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
    July 30, 2026
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    Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
    Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.

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      MAAC’s 24FPS Creators Fest and International Animation Awards 2025 celebrates India’s creative and AVGC-XR innovation

      December 29, 2025

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      A platform bringing emerging creators and industry leaders together for a high-impact showcase of storytelling, technology, and next-gen career pathways Mumbai, December 26, 2025: MAAC (Maya Academy of Advanced Creativity), one of India’s leading pioneers in high-end 3D Animation, VFX, Game Design, Digital Design, and Digital Content Creation has concluded the 24FPS Creators Fest and 22nd edition of International Animation Awards 2025 at the Jio World Centre, BKC, Mumbai. This year’s edition was the most dynamic and impactful in the brand’s 25-year history, bringing together one of India’s largest communities of young creators, industry veterans, studio heads, and global M&E experts. 24FPS Creator Fest was designed as an immersive platform that offered deep insights into emerging opportunities across sectors and next-gen technologies. With over 6000 submissions from India and abroad, the awards celebrated work that demonstrated originality, technical excellence, and global-ready storytelling. Over the years, the 24FPS International Animation Awards has attracted entries from more than 100 countries, including Vietnam, the United Kingdom, France, South Africa, and multiple eastern European countries and more, reinforcing MAAC’s growing creative influence. The fest opened with a compelling keynote address by Mr. Ashish Kulkarni, Founder, Punnaryug ArtVision Pvt. Ltd., who highlighted the rapidly evolving AVGC-XR landscape and the global opportunities transforming the creative ecosystem. This year’s fest featured curated knowledge sessions, including a segment on decoding “Creators. Cameras. Content. The Future of the Video Value Chain”, featuring Ms. Shweta Mahadik, Content Creator, Mr. Gaurav Markan, Sr Manager Marketing – Product, B2B Business & Strategic Alliances- Image Communication Business, Canon India, and Mr. Kiran Deohans, experienced Director of Photography and member of ISC, moderated by Dr. Rajeev Rastogi, Founder & Managing Director, WhiteApple LLP. Further elevating the event’s thought leadership, a high-engagement panel discussion titled “New Era of Storytelling with GenAI” brought together Mr. Chetan Hansraj, Head of Department – AI and VFX, Balaji Telefilms Ltd.; Mr. Nishith Dayal, Co-Founder & Chief Creative Technologist, Eleventh Door Studio; and Mr. Vishal Yoman, Founder & CEO, Kalpanik Films. The session, moderated by Mr. Samit Shetty, Lead Solutions Engineer-Media & Entertainment at Autodesk, emphasised the importance of integrating AI literacy into creative education to prepare talent for global-standard production environments. MAAC has integrated GenAI-powered across all its career courses to ensure their learners are adept at working with in human-AI environments. A significant highlight was the panel titled “Players to Creators: Career Pathways in XR & Gaming Industry,” which featured a powerhouse assembly of leaders from Maharashtra’s gaming ecosystem. Moderated by Mr. Anand Jha, CEO of NILEE GAMES, the session included insights from Ms. Laxmi Khanolkar (CEO of Apar Games), Ms. Ranbeer Singh Hora (Managing Director of GodSpeed Games), and Mr. Deepak Ail (CEO of Dot9 Games). These industry veterans provided a strategic roadmap for aspiring creators, emphasizing the transition from consumers to architects of the burgeoning XR and gaming sectors. Parallel to the main stage, the “Creative Mandapam” track delivered high-impact masterclasses led by world-class studios, including 88 Pictures, CineVisualFX, and Framestore India. These sessions offered attendees a rare look into the technical mastery behind global hits, such as the VFX of Deadpool & Wolverine, and the nuances of acting and phonetics in animation. Notably, 24FPS Creator Fest took a definitive stand in representing the “C” (Comics) in the AVGC-XR spectrum. By hosting a dedicated panel on visual design for sequential storytelling—featuring experts from Mugafi and Indusverse—the fest ensured that the art of comic creation received its rightful place alongside animation and gaming. Diving deep into the ecosystem of India’s creator economy, Mr. Ashish Kulkarni moderated a panel discussion on the topic, ‘India Rising: The New Age of IP Creation’, featuring Mr. Sanjeev Waeerkar, Director, Ice Candy, Mr. Milind Shinde, Founder & CEO, 88 Pictures, Mr. Vaibhav Kumaresh, Founder Director, Vaibhav Studios and Mr. Akshat Rathee, Co-founder, NODWIN Gaming. The awards ceremony that unfolded in the evening honoured outstanding student and professional projects across Best Animation Short-film (2D/3D), Best Visual Effects Feature Film, Best Animated Short Film, Best Unreal Cinematic Film and Best VFX shot, among a host of other categories. A distinguished jury comprising leading studio heads, creative directors, and industry veterans evaluated the entries against rigorous artistic and technical benchmarks. In the “Movers and Shakers” category, the audience was captivated with Mr. Rahul Chahar who was awarded the ‘GenZ Youth Inspiration Award’; Ms. Shweta Mahadik as the ‘Creative Innovator of the Year Award 2025’; Ms. Reenu Debnath won the ‘Breakthrough start of the year 2025’; Devika Khade for ‘Comedy Creator of the Year 2025 – Female’; Harsh Rane for ‘Comedy Creator of the Year 2025- Male’; Hamza Syed for ‘Game Changer Creator of the Year 2025’; Arbaz Patel for ‘Reality Icon of the Year - 2025’ and Zaid Darbar as ‘Music Creator of the Year-2025’. The evening saw a host of entertaining performance by leading Indian dance crew ‘MJ5’, singer Juilee Joglekar, and comedian Joel D’souza who helped in making this evening memorable for the audience. Furthermore, MAAC felicitated 40 alumni who are under the age of 40, i.e., 40 Under 40, recognising their exemplary work for the AVGC-XR ecosystem. The strong participation at 24FPS Creator Fest reaffirmed the rapid evolution of India’s AVGC-XR sector, with creators showcasing expertise in, Animation & VFX Short films, Live action short format content, new age film making using real-time engines, AI-driven design, immersive media, and digital-first production workflows. On the occasion of completing 25 years, MAAC has also introduced two new learning tracks for its upcoming students—namely Career X and Creator X. These are not just new courses; they are future-ready academic pathways designed to bridge the gap between industry and academia, and power the next generation of creative professionals. Speaking on the successful culmination of the event, Mr. Sandip Weling, Chief Business Officer – Global Retail at Aptech Limited and Brand Custodian, MAAC, said: “24FPS Creator Fest this year has once again spotlighted the talent, and creativity of MAAC students. The sessions, industry conversations, and compelling storytelling showcased today reflect a generation fully prepared to redefine the global AVGC-XR landscape. MAAC remains committed to empowering this talent through world-class training, meaningful exposure, crucial skills, and future-ready opportunities that strengthen India’s creative economy.” As one of India’s most respected platforms in the Media & Entertainment education ecosystem, 24FPS continues to nurture and empower the next generation of creative professionals in the rapidly expanding media & entertainment sector. MAAC aims to strengthen this legacy through deeper academic–industry collaborations, creator-first initiatives, and stronger audience engagement in the years ahead. About MAAC: Maya Academy of Advanced Creativity (MAAC) is India’s leading training institute for high-end 3D Animation and Visual Effects. Founded in 2001 & a major brand of Aptech Ltd, MAAC has trained over lakhs of students, worldwide. It has in total over 130 centres globally with cutting-edge infrastructure in over 65+ cities. MAAC offers industry relevant career courses on 3D Animation, Visual Effects, Gaming, Digital Design, Filmmaking, Broadcast, VR & AR. MAAC courses are thoughtfully designed to provide students thorough insights about the dynamics of the industry. It provides real-life training environment to students, backed by excellent faculty, world-class infrastructure, and the latest technical tools. MAAC students are placed across all domains of the Media & Entertainment industry in India & overseas. With our job-ready courses, MAAC students are placed in leading production houses and studios such as DNEG,Amazon, Red Chillies VFX, Accenture, Green Gold Animation, NY VFXwaala, Industrial Light & Magic (ILM), Framestore, PhantomFX, BotVFX, 88 Pictures, Resonance Digital and Folks VFX, amongst others. For further information please visit- http://www.maacindia.com/ Media contact Aptech Limited Srinidhi Iyer, Corporate Communications [email protected] (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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