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    UCO Bank launches IFSC Banking Unit at GIFT City
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    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
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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
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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
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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
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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.
August 13, 2026
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Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
August 13, 2026
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EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
August 13, 2026
Show AI Summary
Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
August 13, 2026
Show AI Summary
Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
August 13, 2026
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Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
August 13, 2026
Show AI Summary
Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
August 13, 2026
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CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
August 13, 2026
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Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
August 12, 2026
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Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
August 12, 2026
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Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.

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Oppn playing politics on West Asia crisis, alleges Rijiju amid heated exchanges with LoP Kharge

April 1, 2026

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New Delhi, Apr 1 (PTI) The Rajya Sabha on Wednesday witnessed sharp exchanges between Leader of Opposition Mallikarjun Kharge and Parliamentary Affairs Minister Kiren Rijiju, who accused the opposition of indulging in politics at a time when the country should be united in the face of the West Asia conflict.

Tempers flared up as Kharge questioned why the government was not holding a discussion on the West Asia crisis in Parliament and attacked Prime Minister Narendra Modi for not being present at the all-party meeting on the issue.

Rijiju hit back at Kharge, accusing him of failing to uphold the dignity of his post by making "irresponsible" statements and "abusing" the prime minister.

He said none of the Leaders of Opposition (LoPs) attended the all-party meeting, adding that it was unfortunate that the opposition was "playing politics" over the issue.

Kharge condemned the minister's remarks and demanded that he withdraw them. He also accused the ministers of being "dummy", alleging that they held no powers.

"Should we attend to listen to your lecture? What authority do you have? You are all dummy ministers. You don't have power. I condemn such a statement," the Leader of Opposition said.

Rijiju said the Leader of Opposition should talk responsibly while upholding the dignity of the position he holds. "He does not uphold the dignity of his position. He himself gives irresponsible statements. Their Leader of Opposition in Lok Sabha also is like that ...," the minister alleged.

Earlier, after Chairman C P Radhakrishnan announced the start of the Question Hour, Rijiju urged the House to sit till late in the evening to take up the government agenda listed for the day.

The Chairman said the House will skip lunch for the day and will sit till late in the evening to clear the government's legislative business, which includes the Central Armed Police Forces (General Administration) Bill 2026 and The Insolvency and Bankruptcy Code (Amendment) Bill, 2026.

The government has also listed a statutory resolution for levying Special Additional Excise Duty on Aviation Turbine Fuel (ATF) with a prescribed rate of Rs 50 per litre on ATF.

Rijiju said the BJP is ready to sacrifice some of the allotted time remaining with it on the CAPF Bill. "I will not tell other members to sacrifice their time, but we will sacrifice our time as some of our members will speak but for a lesser time. If it is required, we can sit a little after 6 PM," he said.

Reacting to it, Kharge accused the government of forcing its agenda while failing to pay heed to the opposition's concerns. "They bring bills whenever they want. They are ready for a discussion anytime and come out with a statement anytime." The Leader of Opposition said he has written to the Chair twice for taking up a short-duration discussion on the West Asia conflict, but no time has been allotted. "The entire world is suffering due to LPG, gas and other things and prices are rising here. But why are they not agreeing to a discussion?" "Whatever we suggest, they disagree. And, whatever they want, they put (in the agenda) and declare forcibly with a voice vote. What is this? Is it democracy?" he asked.

Addressing the Chairman, he said, "We thought that after you came, the opposition would get more justice." The Chairman countered Kharge, saying, "You are getting more time than the treasury benches; I will give you the data." Rijiju then said that many members raised the West Asia issue in the business advisory committee meeting, where it was stated that the government is not running away from a discussion.

"What the Leader of Opposition is saying is not right. Firstly, the ministers concerned made their statements in both the Lok Sabha and the Rajya Sabha. Then the prime minister made a detailed statement in Parliament.

"There is a problem here. They want to speak what they want, but they don't want to listen. It is just the opposite happening here. They accuse us but don't listen to the government here," the Parliamentary Affairs minister said.

He said that when an all-party meeting on the West Asia crisis was convened, none of the leaders of the opposition from both Lok Sabha and Rajya Sabha attended, even though Congress members and those of other opposition parties were present.

During the discussion on the finance bill, he said, opposition members only spoke about LPG, petrol and diesel. He said the finance minister gave a detailed reply, and the prime minister had a detailed discussion with state chief ministers via video conferencing.

He said the finance minister told both Lok Sabha and Rajya Sabha about the steps taken to tackle the crisis and to control the prices, as they have skyrocketed across the world, while there has been no increase in India.

The excise duty has been reduced and "despite handling the situation so well, you (opposition) play politics on the issue", Rijiju lashed out at the opposition.

"Is this an issue to play politics on. There is a crisis in our neighbourhood from where petrol and gas are supplied. The war is not happening because of us. In such a crisis, the opposition is playing politics. It is so unfortunate. This is time for the entire country to stand united. This is not the time for playing politics," Rijiju said.

Countering Rijiju, Kharge said, "Where was your prime minister. Where was he? You were there as the government representative; I had also sent our representative. Your prime minister was not there. Should we attend to listen to your lecture? What authority do you have...." Hitting back, Rijiju said they have always given respect to the Leader of Opposition.

"They only indulge in abusing the prime minister, both inside and outside the Parliament, day in and out. We consider the leader of opposition as senior and think he would talk responsibly while upholding the dignity of the position he holds.

"He does not uphold the dignity of his position. He himself gives irresponsible statements. Their leader of opposition in Lok Sabha also is like that ...," the minister alleged.

The Chairman then announced that the Question Hour will be taken up. PTI SKC RT

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