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    Rupee settles on flat note, 3 paise higher at 95.71 against US dollar
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August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
Show AI Summary
Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
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Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.

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BJP gave ''zero'' to TN in Union Budget, people must give back 'zero' to them in polls: Stalin

February 7, 2026

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Virudhunagar (Tamil Nadu), Feb 7 (PTI) DMK President and Chief Minister M K Stalin on Saturday alleged that the BJP-led regime at the Centre only gave "zero" to Tamil Nadu in the Union Budget presented recently and urged the people to give back "zero" to the NDA in the state in the upcoming Assembly election in April.

Addressing the southern regional meeting of the DMK youth wing office-bearers here, Stalin, listing out the flagship schemes of his government including the Rs 1,000 monthly assistance to women and fare-free travel in buses for women, said Tamil Nadu is the superstar state in the country that topped the charts in all rankings. However, Tamil Nadu, though "No 1," is not being provided anything by the Centre in the Union Budget.

He said: "We expected that they will do some election stunt eyeing the Assembly polls. They did not even do that." Assembly election is due in Tamil Nadu in April, 2026.

Listing out Tamil Nadu's demands including education funds, new railway projects, 50 per cent tax share to the state, exemption from NEET, completion of Madurai AIIMS Project, the chief minister said: "We are seeking these from the Centre; but what they have given us is zero." "Hence, we must give them back the same thing in the election. Not only the BJP, the entire NDA must get only zero, exactly similar to what they got in the 2024 Lok Sabha polls." Targeting Edappadi K Palaniswami, the leader of opposition and AIADMK chief, Stalin said rather than raising his voice against the Centre for giving "zero" to Tamil Nadu, the LoP has become the BJP's "branch secretary".

"Palaniswami has now fully transformed into NDA Palaniswami and he is lamenting that he heads the alliance in Tamil Nadu," Stalin said.

Also, the CM hit out at the AIADMK for its stand supporting the new rural jobs law and for claiming to increase the number of workdays to 150 if voted to power and used a colloquial phrase to mean that "Now, Palaniswami is more loyal than the king." Palaniswami had already promised that 125 working days will be further increased to 150 days and the wages would also be enhanced if his party wins polls.

The DMK President also alleged that the NDA, led by the AIADMK in Tamil Nadu was not meant for people's welfare. It is merely a game of "musical chair," with the return of several leaders who had quit the alliance. "The 2026 Assembly election is Tamil Nadu versus NDA. We must make Tamil Nadu win the polls." In Tamil Nadu, for the BJP, defeat is nothing new and it is a routine for them, the CM said, adding the DMK-led alliance will post a great win while the AIADMK-BJP will face a rout.

While welcoming the cadres to the conference in a video message, Stalin recalled that he had spoken about the importance of following the party's ideology and the need for the DMK.

"What are our basic principles? These are social justice, self-respect, state autonomy, love for the language (mother tongue) and racial sentiment (Tamil ethnic belonging/solidarity)," the DMK chief asserted.

The DMK had often targeted the fans of actor-turned politician Vijay for following him without having any idea about ideology or principles.

Explaining on the commitment to the key party principle of protecting the language, he said: "Whenever our mother tongue Tamil was threatened during various periods, we have fought fiercely and prevented it. However, under the name of the 3-language policy, the danger of imposing the Hindi language still hangs over our heads like a suspended sword even today! They (BJP-led Centre) believe that if the language is destroyed, they can destroy our identity! We need you to defeat it." On social justice, he wondered if the grandparents of the current generation had the opportunity to get educated.

"We were kept out of bounds of education and we did not get job opportunities and this injustice was defeated through reservation and social justice was established. However, now, with exams like NEET they are trying to create old methods of injustice and ours is the only party that has the capability to stop it and you are needed in this mission." On state autonomy, the CM said India is a union of states and the DMK had all along batted for respect to federalism. Stalin recalled that decades ago chief ministers could not even hoist the national flag on Independence Day.

"There were several other issues. The situation was changed to an extent through struggle to make states get power. It was the DMK that demonstrated for the first time that state-based parties could capture power at the Centre. Do not forget this. Not only for Tamil Nadu, we secured rights for all the states in India. Now powers are being centralised. They are desperate to transform states into municipalities and the BJP is working to decimate state parties. However, Tamil Nadu is the only state they cannot touch. To protect his, you are needed," Stalin said.

Similarly, the CM explained in detail on other principles like self-respect and urged youth wing functionaries to develop language skills in addition to love for language and peruse personality development goals. PTI VGN VGN SA

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