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    DGFT Removes Physical Duty Payment Challans for Export Obligation Discharge Certificate Applications under Advance Authorisation and Export Promotion ...
    TRAI directs use of 1601-series for service, transactional calls by utilities, logistics cos
    Nagaland tax revenue rises to Rs 1,597 crore in FY'26
    India's Russian crude imports hit record for second straight month
    Stolen phone of 88-year-old leads Delhi Police to bust interstate cyber-fraud syndicate; 9 held
    Rupee falls 11 paise to close at 95.28 against US dollar on firm crude oil prices
    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
    Freedom to Spend Smarter: AU Small Finance Bank Credit Cards Bring Rewards, EMI Flexibility and Lounge Access to India''s Biggest Shopping Month
    Rupee falls 8 paise to 95.25 against US dollar in early trade
    APEDA Facilitates First-Ever Export of GI-tagged Mithila Makhana by Sea Route from Bihar to Australia
    Government signs strategic MoUs with key industry leaders and ecosystems to strengthen support to StartUps
    No Charges for UPI Users
    Competition Commission of India (CCI) hosts BRICS Heads of Competition Authorities 2026 meeting
    ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
    Govt to introduce bill in Lok Sabha to broaden NCDC's mandate for co-operative sector growth
    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
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    August 10, 2026
    Show AI Summary
    Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
    Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
    August 10, 2026
    Show AI Summary
    Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
    The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
    August 10, 2026
    Show AI Summary
    GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
    GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
    August 10, 2026
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    Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
    Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
    August 10, 2026
    Show AI Summary
    Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
    Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
    August 10, 2026
    Show AI Summary
    Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
    The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
    August 10, 2026
    Show AI Summary
    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
    Show AI Summary
    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
    Show AI Summary
    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
    Show AI Summary
    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
    August 10, 2026
    Show AI Summary
    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
    August 10, 2026
    Show AI Summary
    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
    Show AI Summary
    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
    ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
    August 9, 2026
    Show AI Summary
    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
    Show AI Summary
    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
    Show AI Summary
    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
    August 9, 2026
    Show AI Summary
    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
    Show AI Summary
    Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
    Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
    August 8, 2026
    Show AI Summary
    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
    Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.

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      India readies power-packed presence at WEF before global elite

      January 18, 2026

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      Davos, Jan 18 (PTI) India is set for a power-packed representation at the World Economic Forum Annual Meeting in this Alpine resort town that will see the global elite discuss "a spirit of dialogue" in a fragmented world for five days beginning Monday.

      US President Donald Trump will be the biggest star among over 3,000 global leaders from government, business, academia, multi-lateral bodies, civil society, and labour unions.

      Trump is coming with his five cabinet members and the city has got a USA House for the first time in over five decades, it has hosted the annual WEF summit.

      The WEF said at least 64 heads of government or state would be present, while six out of seven G-7 countries would be represented by their top leadership. China and Pakistan will also have big delegations attending the event.

      Pakistan will also host for the first time a 'Sufi Night' where it will also serve 'Indus Valley' delicacies.

      Ukrainian President Volodymyr Zelenskyy will also be present, WEF President and CEO Borge Brende said at an online press conference, asserting that the five-day annual meeting beginning January 18 will have a hard look at Ukraine, Gaza and Latin America, including Venezuela.

      He said a big bipartisan delegation from the US Congress and state governors would also attend the meeting, being held under a theme of "a spirit of dialogue".

      President Trump will bring along the largest-ever US delegation to Davos, including at least five secretaries. Those expected include Secretary of State Marco Rubio, Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright, and also US Trade Representative Jamieson Greer.

      Brende said the world is probably facing the most complex geopolitical situation since 1945, and dialogue is not a luxury in times of uncertainty, but an urgent necessity today.

      Brende said the WEF Annual Meeting will have a historic participation of more than 3,000 world leaders from over 130 countries this year, including over 1,700 business leaders, half of whom are CEOs or chairpersons.

      There would be a record number of 400 top political leaders from across the globe, including a strong Latin American presence.

      The meeting will also be attended by more than 30 foreign ministers, over 60 finance ministers and central bank governors and more than 30 trade ministers.

      Top political leaders taking part include Canadian Prime Minister Mark Carney, German Chancellor Friedrich Merz, French President Emmanuel Macron, European Commission President Ursula von der Leyen, Chinese Vice-Premier He Lifeng, and Swiss President Guy Parmelin.

      They also include presidents of Argentina, Indonesia, Armenia, Azerbaijan, Colombia, Congo, Ecuador, Finland, Mozambique, Poland, Serbia, Singapore, Israel, and Syria, alongside prime ministers of Spain, Belgium, Greece, the Netherlands, Pakistan, Palestinian National Authority, and Qatar.

      Close to 200 leaders from civil society and the social sector, including labour unions, non-governmental and faith-based organisations, as well as experts and heads of the world's leading universities, research institutions and think tanks,“ will also participate in the meeting.

      From India, at least four Union ministers -- Ashwini Vaishnaw, Shivraj Singh Chouhan, Pralhad Joshi, and K Rammohan Naidu -- as well as six chief ministers are expected to be there, along with over 100 top CEOs from the country.

      The chief ministers are Devendra Fadnavis of Maharashtra, N Chandrababu Naidu of Andhra Pradesh, Assam's Himanta Biswa Sarma, Madhya Pradesh's Mohan Yadav, Telangana's A Revanth Reddy, and Jharkhand's Hemant Soren.

      While Reddy is from Congress, Soren from Congress ally Jharkhand Mukti Morcha and Naidu from Telugu Desam Party (an ally of the BJP), the other three CMs are from the BJP.

      Karnataka's Deputy Chief Minister DK Shivakumar (from Congress) was also expected to be there, but has dropped out due to his engagements back home.

      Among Union ministers, Naidu is from TDP, while the other four are from BJP.

      Besides, Gujarat's Deputy Chief Minister Harsh Rameshbhai Sanghavi (from BJP) and high-level delegations from Uttar Pradesh and Kerala will also visit Davos.

      Indian leaders are expected to participate in several panel discussions, including one on 'Can India become the third largest economy in the world' during the summit.

      Business leaders from India expected include Reliance Industries chief Mukesh Ambani, Tata group's N Chandrasekaran, Bajaj Group's Sanjiv Bajaj, Jubilant Bhartia Group's Hari S Bhartia, TVS Motor's Sudarshan Venu and Mahindra Group's Anish Shah.

      Other Indian corporate leaders expected to be there are Axis Bank's Amitabh Chaudhry, Godrej Industries Group's Nadir Godrej, JSW Group's Sajjan Jindal, Zerodha's Nikhil Kamath, Bharti group's Sunil Bharti Mittal, Infosys co-founder Nandan Nilekani, Infosys CEO Salik S Parekh, Wipro's Rishad Premji, Essar CEO Prashant Ruia, Paytm's Vijay Shekhar Sharma and ReNew CEO Sumant Sinha.

      Former Union minister Smriti Zubin Irani will also be there as founder and chairperson of Alliance for Global Good: Gender Equity and Equality, which was founded a few years ago in Davos itself.

      Global leaders attending the summit include United Nations Secretary-General Antonio Guterres, World Bank President Ajay S Banga, IMF Managing Director Kristalina Georgieva, European Central Bank President Christine Lagarde, WHO Director-General Tedros Adhanom Ghebreyesus, UNESCO Director General Khaled el-Enany, WTO Director-General Ngozi Okonjo-Iweala and London Mayor Sadiq Khan.

      From Pakistan, Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Affairs Minister Mohammad Ishaq Dar, Finance Minister Muhammad Aurangzeb and Pakistan Peoples Party Chairman Bilawal Bhutto Zardari will also be there. PTI BJ TRB TRB TRB

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