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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
    UPI Completes 10 Years of Digital Payments Revolution- Globally Recognised as World’s Largest Real‑Time Payment System
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August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
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Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
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Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.

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Customs & Trade

Trump's about-face in Minnesota after Pretti's death latest in pattern of sudden shifts

January 27, 2026

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Washington, Jan 27 (AP) President Donald Trump shifted toward a more conciliatory approach with Democratic leaders in Minnesota on Monday, a sudden change in tack following an outcry over the second fatal shooting of a protester by federal agents this month during the administration's nationwide crackdown on undocumented immigrants.

The about-face comes after Saturday's shooting death of Alex Pretti by federal agents raised doubts — including from some Republicans — over how the Trump administration has gone about aggressively deporting migrants and confronting protesters opposed to the policy.

But it's just the latest in a string of moments where Trump has first taken a maximalist position only to appear to later retreat.

Earlier this month, Trump repeatedly threatened Iran with military action if his administration found the Islamic Republic was using deadly force to squelch recent antigovernment protests.

Human rights groups said thousands were killed, but Trump says he's holding off on acting after he received assurances Tehran was suspending hundreds of planned executions.

Last week, Trump first announced plans to impose new tariffs on European allies that refused to go along with his calls for the US to take control of the Arctic territory of Greenland — only to abruptly cancel the tariffs after saying he'd come to terms of the “framework” of an agreement.

The White House offered scant details about the deal, which Trump announced the day after the stock market saw one of its worst days in months in response to his tariff threat.

Then on Monday, Trump's administration changed up oversight of his immigration operation in Minnesota, and the typically bombastic Trump offered a warmer tone toward Gov. Tim Walz after speaking with the Democrat, saying he and Walz were now on a “similar wavelength.” Some Republicans took issue with what happened in Minneapolis ---------------------------------------------------------------------- It was a particularly jarring turnabout for Trump, who had promised to be uncompromising on carrying out mass deportations of undocumented migrants during his 2024 campaign — and because Trump has repeatedly scorched Walz and other Minnesota Democrats in personal terms for resisting his policies.

Trump said he had dispatched border czar Tom Homan to take charge. Meanwhile, senior Border Patrol commander Greg Bovino and some agents were expected to leave Minneapolis as early as Tuesday, according to a person familiar with the matter.

Trump declared on social media that Walz “was happy that Tom Homan was going to Minnesota, and so am I!” Later, Minneapolis Mayor Jacob Frey confirmed that some agents would be leaving the city after he spoke with Trump — and suggested that the president seemed to be coming to the conclusion that the current state of federal operations was unsustainable. Homan and Frey were expected to meet Tuesday.

Trump's change-up in Minnesota came after some Republicans questioned federal agents' tactics in Saturday's incident as well as the White House's response. Some high-ranking administration officials had branded Pretti a domestic terrorist even as videos of the encounter contradicted their narrative.

Minnesota gubernatorial candidate Chris Madel, a Minneapolis attorney, ended his GOP campaign in a surprise video announcement Monday, calling the recent immigration enforcement operation in the Twin Cities an “unmitigated disaster” and saying he no longer wanted to be a member of the party because of it.

Meanwhile, Texas Republican Gov. Greg Abbott, who has been a strong supporter of Trump's crackdown on immigration, offered measured criticism in an interview with conservative radio host Mark Davis, saying the White House needs to “recalibrate” what it was doing in Minnesota. Vermont's Republican Gov. Phil Scott called on Trump to reset and de-escalate.

“At best, these federal immigration operations are a complete failure of coordination of acceptable public safety and law enforcement practices training, and leadership,” Scott said. “At worst, it's a deliberate federal intimidation and incitement of American citizens that's resulting in the murder of Americans.” Trump had scorched Walz. Now, they're on a 'similar wavelength' ---------------------------------------------------------------------- The president's approach toward Walz, who served as Democratic presidential nominee Kamala Harris' running mate in 2024, amounted to a sharp U-turn.

Just a day earlier, Trump's deputy chief of staff, Stephen Miller, had derided Walz on social media as trying to “incite attacks on" US Immigration and Customs Enforcement agents. The White House social media team in a series of posts called the governor “a truly disturbed, unstable individual” and an “unhinged lunatic” who “rants and raves and lies.” Miller also referred to Pretti, a nurse who worked at a Veterans Affairs hospital, as a “would-be assassin” while Homeland Security Kristi Noem labelled the ICU nurse as committing an act of domestic terrorism.

The White House sidestepped whether Trump agreed with his senior aides' rhetoric or whether the administration would apologise for it.

“This incident remains under investigation,” press secretary Karoline Leavitt told reporters. “And nobody here at the White House, including the president of the United States, wants to see Americans hurt or killed and losing their lives.” His response has been muted compared to other recent deaths --------------------------------------------------------------------- Trump's response to the deaths of the two US citizens protesting in Minneapolis has been much more muted than reactions to political violence that he's portrayed as targeting his own political movement.

After conservative activist Charlie Kirk was assassinated in September, the president spoke to the nation from the Oval Office and called Kirk's death “a dark moment for America.” In November, Trump gave a national address after two National Guard members were shot in Washington, D.C., by an Afghan national, one fatally. The guard members had been deployed to the nation's capital as part of a federal mission to assist with local policing, and the president called the shooting “an act of evil, an act of hatred and an act of terror.” But the president has yet to speak directly to the nation about the deaths in Minneapolis of Pretti and Renee Good, another protester who was killed by federal agents in Minneapolis earlier this month. Trump has so far largely chosen to keep the public informed in the wake of Pretti's death with social media posts.

Even as his comments Monday appeared to be aimed at turning down the rhetoric, Trump's chief spokesperson, Leavitt, continued to blame Walz and other Minnesota Democrats for encouraging “left-wing agitators to stop, record, confront and obstruct federal officers who are just trying to lawfully perform their duties.” “This is precisely what unfolded in Minneapolis on Saturday morning,” Leavitt added. (AP) GRS GRS

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