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    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
    50 tonnes of copper without e-way bills seized by Delhi GST, Railways joint team
    India's exports surge 19.6 pc in Jul; trade deficit widens to six-month high
    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
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    August 14, 2026
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    Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
    India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
    August 14, 2026
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    Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
    The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
    August 14, 2026
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    Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
    Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
    August 14, 2026
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    Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
    India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
    August 14, 2026
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    Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
    Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
    August 14, 2026
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    Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
    Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
    August 14, 2026
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    International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
    International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
    August 14, 2026
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    Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
    Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
    August 14, 2026
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    International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
    IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
    August 14, 2026
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    Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
    Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
    August 13, 2026
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    International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
    UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
    August 13, 2026
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    Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
    Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
    August 13, 2026
    Show AI Summary
    Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
    India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
    August 13, 2026
    Show AI Summary
    GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
    GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
    August 13, 2026
    Show AI Summary
    Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
    Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
    August 13, 2026
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    Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
    Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
    August 13, 2026
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    Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
    India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
    August 13, 2026
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    Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
    Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
    August 13, 2026
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    Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
    Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
    August 13, 2026
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    Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
    IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.

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      IIHM's Young Chef Olympiad 2026 Opens in Bengaluru with Spectacle, Soul, and a Shared Heart for Food

      February 3, 2026

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      An arena of nations, a shared oath, and a single language—food—as YCO 2026 begins its global journey in India. BENGALURU, India, Feb. 2, 2026 /PRNewswire/ -- The 12th IIHM International Young Chef Olympiad (YCO) 2026 opened in Bengaluru with the kind of scale, theatre, and emotion that instantly signals a world event—an evening designed not just to 'begin' a competition, but to ignite a global movement of young culinary talent. From the very first moments, the ceremony carried the mood of an international arena: teams seated with their country buddies- IIHM students assigned to look after their wellbeing; a charged sense of anticipation in the room, and an atmosphere where tradition, innovation, and youthful ambition all shared the same spotlight. The evening unfolded into a full spectacle. An energetic introduction to YCO framed the Olympiad as far more than a contest—a global celebration of culinary excellence, cultural identity, and friendship beyond borders. That message came alive in the most cinematic sequence of the night: the Entry of Countries—a rolling wave of nations, uniforms, flags, and faces—young chefs and mentors stepping forward as representatives of their culinary cultures. It was a visual reminder of what makes YCO unique: dozens of countries arriving not as rivals, but as co-travellers on one world stage, united by the universal language of food. In a powerful shift of tone, the ceremony then placed YCO within a larger national narrative—India's success story of transformation, and its accelerating leap into the era of AI and technology. This segment connected India's rise as a creator of innovation with IIHM's own future-facing leadership, including the spotlight on NamAIste GPT—positioning hospitality education as part of a broader, modern India story where technology is built with purpose and cultural relevance. At the emotional centre of the evening was the arrival of Dr. Suborno Bose, introduced as a leader whose philosophy bridges innovation and humanity. His address anchored the ceremony's deeper meaning: that the world is entering a new era, but hospitality—at its core—remains human. The moment was staged with unmistakable drama, reinforcing the idea that YCO is not merely a student competition, but a platform where the future of hospitality is being imagined in real time. Setting an emotional cord that links human through the friendly bind of food Dr Bose said, "You have travelled from across continents, cultures, climates, and cuisines—but tonight, you stand together on one stage, united by a single language: food" Addressing student chefs from across 40 countries, gathered in Bengaluru for the largest congregation of young chefs in the world, Dr Bose said, "You are here as culinary ambassadors—carrying the stories, traditions, ingredients, and philosophies of your nations. At its heart, the Young Chef Olympiad is culinary diplomacy in action—a place where borders dissolve, politics disappear, and food builds bridges. That is why YCO, conceived in India, is today celebrated across the world" The global stature of the event was reinforced through the presence and messages of senior leaders and respected voices. The ceremony carried a strong note of welcome and support from the Government of Karnataka through the video address of Dr. Shalini Rajneesh, Chief Secretary, Government of Karnataka. This was followed by the address and felicitation of the Tourism Secretary, Government of Karnataka, reflecting the significance of YCO not just as a culinary event, but as a moment of international cultural exchange hosted in Karnataka. Adding gravitas to the international jury and adjudication framework, Professor David Foskett OBE, Chairperson of the Jury, was introduced and invited to speak—an important marker of the Olympiad's global credibility and standards. Reaching out to participants from 40 countries, Dr Foskett said, "YCO is not just a competition; it is a gathering of friends and like-minded individuals who understand culinary art and bring the world together through shared values in this much-travelled world. It is about friendship, food, and culture. We will witness the absolute best of humanity." "Food is a universal language understood by all. Food builds our relationships and helps us understand many cultures. It is an important symbol of belief and faith." - A message from Padma Shri Chef Sanjeev Kapoor further amplified the sense of prestige, reinforcing that YCO is watched and respected across the culinary world. The evening's drama was not only in speeches and dignitaries—it was in culture, rhythm, and symbolism. A highlight was the Karnataka folk dance—Dollu Kunitha, bringing the thunder of local tradition into a global arena. It reminded every international delegate present: Bengaluru was not just a venue, but a host city with living heritage—welcoming the world with identity and pride. One of the most meaningful moments of the ceremony followed: the handover of the Culinary Dossier, executed through the IIHM students. This was presented as culinary diplomacy in action—a symbolic exchange that captured YCO's theme for 2026: 'Preserving the World's Global Culinary Heritage through AI.' As Dr Bose said, "For the first time, we are consciously positioning the 40 participating countries as a living laboratory of global culinary heritage. Not something you watch. Not something you download. But something alive—experienced through people, conversations, kitchens, mistakes, learning, and friendships. This kind of learning will never come from a YouTube video. It comes from standing next to a fellow young chef from another country, asking questions, sharing stories, tasting food, and understanding why a cuisine evolved the way it did." The message was clear and stirring: culinary heritage is fragile when it remains undocumented, oral, and unrecorded—and in this Olympiad, AI is positioned not as a replacement for craft, but as a tool to carry traditions forward with respect and rigour. The ceremony then rose toward its peak with the announcement of the Grand Jury—a roll-call moment that felt like the unveiling of a global panel of guardians of culinary excellence. This built seamlessly into the night's most iconic highlight: the Unveiling of the YCO Trophy, staged as a collective pledge of purpose and passion. With the YCO Anthem playing and the symbolic 'hand on heart' moment, the unveiling became more than a reveal—it became a declaration that the next six days would be marked by discipline, integrity, and the spirit of the Olympiad. The finale brought the evening's emotional arc to its highest point: the YCO Banner and Torch entry, followed by the Oath Taking Ceremony—with oaths administered on behalf of contestants, mentors, and judges. In those words lay the heartbeat of YCO: competition guided by fair play, hospitality guided by values, and excellence guided by respect. By the time the ceremony concluded, the message was unmistakable: YCO 2026 had not simply begun—it had been inaugurated with scale, symbolism, and soul. The stage had been set for a six-day culinary journey across cities, cultures, and cuisines—where young chefs would compete fiercely, learn deeply, and leave with friendships and memories that travel far beyond the Olympiad. Media Details: Mr Sujay Gupta Group Director IIHM [email protected] Photo:Embedded Media Logo:Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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