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March 6, 2026
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PMLA investigation prompts raids at locations linked to corporate group; company denies premises were targeted.
Enforcement Directorate teams conducted coordinated searches at multiple locations linked to a corporate group under a PMLA probe into alleged bank loan fraud and associated money laundering, with parallel allegations of financial irregularities under FEMA. The agency has filed three money laundering cases and formed a special investigation team; the principal individual has been questioned twice. The company denies any raids at its offices.
March 6, 2026
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NBFC middle layer classification underscores diversified funding through multiple debt instruments and strengthened risk and tech-based underwriting.
The company, an RBI registered NBFC categorised as an NBFC middle layer under Scale Based Regulations, emphasised technological underwriting, risk management, and collections platforms to support disciplined scaling. Since April 2025 it mobilised diversified capital across instruments including Non Convertible Debentures, Commercial Papers, Term Loans, Securitisation, Direct Assignment and Co Lending Arrangements to strengthen its capital base while prioritising sustainability and asset quality.
March 6, 2026
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Export-oriented agriculture: scale high-value production, strengthen missions, technology and market linkages for global competitiveness growth.
Transition agriculture to an export-oriented model by scaling high-value crop production, strengthening value addition, processing and storage, and aligning output with global quality and branding standards through national missions, budgetary support and coordinated engagement of experts, industry and farmers; promote chemical-free natural farming and crop diversification to access global markets and mitigate risks.
March 6, 2026
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Money laundering investigation triggers Enforcement Directorate searches at company locations, probing alleged bank loan fraud and FEMA irregularities.
Enforcement Directorate teams searched multiple locations linked to Reliance Power Ltd. and its executives in Mumbai and Hyderabad in an investigation into alleged money laundering connected to suspected bank loan fraud and related financial irregularities under the Foreign Exchange Management Act. The ED has filed multiple money laundering cases against the group, constituted a special investigation team on the Supreme Court's direction, and has questioned the principal corporate figure under the anti money laundering law.
March 6, 2026
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Pay commission representations invited for stakeholders; online submissions required by deadline, paper copies may be disregarded.
The Eighth Central Pay Commission invites representations from employees, pensioners, associations and organizations through a prescribed structured memorandum format available on innovateindia.mygov.in and 8cpc.gov.in, with online submissions to be received up to 30th April, 2026; paper-based copies, emails or PDFs submitted by other means may not be considered.
March 5, 2026
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Currency intervention stabilizes local currency amid geopolitical-driven oil price shock and capital outflows.
Central bank intervention to curb exchange-rate volatility is identified as the primary operative mechanism: suspected Reserve Bank purchases supported a rebound in the rupee, with the RBI expected to sterilise these operations to maintain liquidity. Geopolitical conflict and rising crude prices increased import-cost risk and safe-haven flows, while a firm dollar and foreign portfolio outflows added depreciation pressure even as domestic equities recovered.
March 5, 2026
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Political risk insurance sought to secure maritime energy shipments, with premiums borne by contracting parties to maintain supply continuity.
India is seeking political risk insurance and financial guarantees from the International Development Finance Corporation to secure maritime transit for oil, LPG and LNG through the Strait of Hormuz; a dedicated corpus must be established before cover can be provided and premiums will be paid by contracting parties. The government is also diversifying suppliers and considering reprioritisation of domestic gas allocation to manage LNG shortfalls caused by route disruption and force majeure.
March 5, 2026
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Trade disruption risk from Strait closure threatens Indian tea exports and underscores maritime chokepoint vulnerability.
Escalating tensions in West Asia threaten India's tea exports by imperilling shipping through the Strait of Hormuz, a key maritime chokepoint for consignments to Gulf markets. A substantial share of Indian tea shipments to the Persian Gulf - notably consignments to the UAE, Iran and Iraq - transit this route, making export flows sensitive to any closure or suspension of passage. The Tea Association of India emphasises that recent export growth, driven by orthodox teas from Assam, is concentrated in markets served via the strait, increasing sectoral exposure to disruption.
March 5, 2026
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Climate innovation competition expands to Asia, with Singapore hosting finals and partners supporting early-stage green ventures.
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March 5, 2026
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Economic growth slowdown signals structural pressures; export strength and trade surplus reshape bilateral trade imbalances and strategy.
China's lowered GDP target signals slower, quality oriented growth due to structural domestic constraints - notably property market decline, unemployment and weak consumption - while policy focuses on technological innovation to raise productivity. At the same time, robust exports sustain a record trade surplus, producing rising bilateral trade imbalances as export strength contrasts with domestic weakness.
March 5, 2026
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Ease of doing business reforms streamline compliance, expand credit access, modernise customs and simplify tax certainty for investors.
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March 5, 2026
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GST-IBC interplay clarifies tax compliance and moratorium effects on statutory claims during insolvency resolution.
Interplay between GST and insolvency law addressed tax liability treatment, compliance by interim administrators and resolution professionals (fresh registration, return filing, availability of input tax credit), and the moratorium's effect on recovery; judicial authority was noted that claims not included in approved resolution plans may be extinguished. The relationship between insolvency processes and anti money laundering enforcement was examined, focusing on proceeds of crime, asset attachment during CIRP, jurisdictional friction with enforcement agencies, and statutory protections designed to preserve resolution objectives while reconciling PMLA enforcement with insolvency aims.
March 5, 2026
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March 5, 2026
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RBI intervention stabilizes rupee amid strong dollar, rising crude and foreign fund outflows constraining gains.
Reports of Reserve Bank intervention supported a rebound in the rupee, with domestic equity buying also contributing; however, a strong dollar, rising crude oil prices and foreign institutional outflows continued to limit gains and pose downside risk to the currency and India's import bill.
March 5, 2026
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AI governance and process automation recognized for enabling responsible, scalable GenAI deployments and compliance improvements in banking.
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March 5, 2026
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Weekly petroleum price revision to preserve market liquidity and compensate fuel suppliers amid supply-route disruptions.
The government proposes immediate measures to keep markets liquid after Strait of Hormuz disruptions by shifting to weekly petroleum price revision, establishing a mechanism to compensate OMCs and refineries for surged insurance, freight and import premiums, and directing PSO to tender imports outside the Strait. Regulators will temporarily ration supplies to dealers and retailers based on an eight month sales track record to discourage hoarding, while considering mandatory work from home and alternative routing to maintain supply continuity.
March 5, 2026
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Energy security: Russia offers crude while India diversifies imports amid regional instability and external trade monitoring.
Russia affirms willingness to supply crude to India as West Asia instability and Strait of Hormuz disruptions threaten energy security. The article links recent military escalations to surging global prices, notes a fall in India's Russian oil purchases, and reports U.S. executive measures tying tariff relief to monitoring of India's Russian oil procurement. India emphasizes supplier diversification and protecting national interests in its procurement strategy.
March 5, 2026
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Regulatory frameworks evolving to support long-term value creation, prompting stronger governance and deeper domestic capital participation.
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Inclusive finance expansion catalyses cooperative bank modernisation and AI-driven institutional transformation at national finance forum.
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March 5, 2026
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RERA approval and statutory permits underpin award-winning residential project, emphasising sustainability, wellness certification, and compliance.
The Cascades Neopolis carries RERA approval (TS RERA No: P02400009538) and HMDA building permission (No: 003505/BP/HMDA/0728/SKP/2024); it emphasizes construction commencement, a planned handover timeline, and industry certifications-IGBC Platinum pre-certification and WELL Pre-Certification-as key compliance and performance credentials relied upon for award assessment and execution-readiness.

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Customs & Trade

Trump's tariffs hurting American manufacturers instead of helping them

March 18, 2026

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Washington, Mar 17 (AP) Jay Allen is a fan of President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.

But the tariffs at the core of Trump's economic agenda have wreaked havoc on his company, Allen Engineering Corp., which makes industrial equipment used to install, finish and pave concrete. The import taxes have raised the costs of engines, steel, gearboxes and clutches made abroad that Allen needs to build power trowels that can sell for up to USD 100,000 each.

Allen's experience embodies a growing body of evidence that the tariffs that Trump said would help American factories are, in fact, squashing many of them.

The problem could get worse as the administration scrambles to craft new tariffs to replace the emergency import taxes that the Supreme Court ruled illegal in February.

Allen said he ran his company at a loss in 2025 because of tariffs. His payroll has fallen to 140 workers from a peak of 205. To get by this year, he has hiked prices by 8 per cent to 10 per cent, even though that might mean fewer sales.

“What's really sad is the unintended consequences of his tariffs are hurting manufacturing in our country,” said Allen. “Unfortunately, the working-class people are getting squeezed.” Manufacturing jobs have declined during Trump's first year back Trump's core rationale for tariffs has been that they would force more factories to open in the US and would generate enough revenue to close federal budget deficits. But that hasn't materialized.

Factories continue to shed workers, with 98,000 manufacturing jobs lost during Trump's first full 12 months back in the White House. American companies that foot the bill for tariffs are now suing the Trump administration for more than $130 billion in tariff refunds. Meanwhile, the federal deficit is projected to climb over the next decade.

The White House maintains that construction spending is high, more workers are being hired to build factories, new investments are being made and labour productivity in manufacturing is increasing — which could eventually fuel a factory revival.

“It takes time to get production online, and therefore it will be some more time before we fully materialise the benefits of the president's policies,” Pierre Yared, the acting chairman of the White House Council of Economic Advisers, said in an email.

Construction is up — but that's due to Biden's bill Some of the bright spots in construction cited by the White House appear to be the result of programmes launched by then-President Joe Biden, a Democrat.

Factory construction spending began to accelerate in 2022 with the anticipation of government support from Biden's CHIPS and Science Act, which included big subsidies for computer chip plants. The law was a primary contributor to a historic surge in the annualised rate of construction spending on manufacturing facilities, said Skanda Amarnath, executive director of the economic policy group Employ America.

Construction spending on factories has slipped during Trump's presidency, but the pace remains relatively high largely because of continuing work on Biden-era projects in Arizona, Texas and Idaho, Amarnath said.

Amarnath has also gone through the interviews regional Federal Reserve banks have held with businesses. Those comments show some companies might expand by taking advantage of Trump's tax breaks on investments in equipment and new buildings.

But while the pharmaceutical drug sector might be expanding, the comments show no overall uptick in manufacturing because of Trump's tariffs.

“You don't get the sense that there is this new manufacturing renaissance underway,” Amarnath said.

Uncertainty in tariffs has deterred investments Based on orders, proclamations and other statements, Trump has taken more than 50 actions on tariffs so far — and that tally doesn't include the tariff threats he regularly makes on social media or in conversations with reporters but hasn't formally put in place.

The flurry of announcements, reversals, exemptions and legal challenges — as well as Trump's decision to bypass Congress to impose tariffs — has made it difficult for smaller manufacturing companies to plan.

For example, Allen Engineering imports its 75-horsepower diesel engines from Germany. Building them in the United States would require a USD 20 million investment — a huge risk if the status of the tariffs is unclear.

Are engine-makers “going to spend that kind of money to move production from Germany to the US when they don't know what the landscape is going to be in three years?” Allen said. “I don't know who is going to be in the White House, and what the stance is going to be on these tariffs.” Joseph Steinberg, an economist at the University of Toronto, said research shows that under the best-case scenario “it would take a decade for manufacturing employment to rise above where it was before tariffs were enacted.” But Steinberg said “the current situation is nothing like the best case”, since US trade policy is unsettled and that leaves companies reluctant to expand.

Equipment makers have been hit hard by rising steel costs About 98 per cent of US manufacturing establishments have fewer than 200 workers, according to Census Bureau data, and don't have the kind of name-brand recognition or lobbying heft to minimise the damage from tariffs that big players like Apple, General Motors and Ford possess.

The Association of Equipment Manufacturers in February reported that America's share of global manufacturing severely lags China's. The group has urged tax credits to offset the expense of tariffs, and specifically called for tariff relief on raw materials, parts and components that cannot be acquired domestically at scale.

Steel tariffs have been a particular concern. Trump imposed them last March and hiked them to 50 per cent in June. They were not affected by the Supreme Court decision.

Trump has credited the tariffs with restoring profits at American steel mills. But they have hurt companies that use that steel, like Calder Brothers in South Carolina, which makes equipment to pave asphalt.

“The steel tariffs were the first thing that got my attention,” said Glen Calder, the company's president. “My steel pricing jumped 25 per cent two weeks before the tariffs went into effect for domestic steel. The market price just jumped. It has stayed elevated.” Meanwhile, China's trade surplus has grown Part of Trump's push to expand manufacturing was to help American companies compete against China — a country he plans to visit this spring for talks with its leader, Xi Jinping.

But the US manufacturing trade imbalance rose last year under Trump instead of narrowing. Meanwhile, China's trade surplus with the world climbed to a record USD 1.2 trillion.

This trend exposes one of the big problems with Trump's tariff strategy, said Lori Wallach, director of the Rethink Trade program at American Economic Liberties Project. She noted that he largely bypassed Congress and failed to address gaps in the World Trade Organisation's rules for the trade frameworks that he negotiated with other countries.

Instead of working with partners to ensure there were penalties for foreign manufacturers with abusive labour practices and unfair subsidies, Trump chose against rallying partners to counter China as a unified group. American manufacturers are at a disadvantage, Wallach argued, because there is not a coalition of nations that can impose penalties for currency manipulation, subsidies and schemes to evade tariffs.

“The general revulsion of this administration to international cooperation means they're trying to do it alone,” Wallach said. (AP) PY PY

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