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    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
    DFS Organises Workshop to Strengthen Implementation of Reservation Policy Across Public Financial Institutions
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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
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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.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.
August 19, 2026
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Examination irregularities investigation examines alleged answer-sheet cheating, managed centres and suspected solver-gang involvement by a biometric operator.
Alleged examination irregularities involved suspected cheating through the receipt of an answer sheet by an examinee from personnel of a private firm conducting the examination. Police arrested a biometric operator following an investigation into his alleged involvement. His prior work with biometric firms and manpower supply agencies was examined in connection with clues concerning allegedly managed examination centres and a suspected solver gang.
August 19, 2026
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Trade restrictions on Iran halt commercial and financial exchanges as regional security threats disrupt maritime commerce and re-export access.
UAE trade restrictions on Iran halted all trade, commercial exchanges and financial transactions until further notice following reported ballistic-missile incidents and regional security escalation. The UAE assessed the missiles as directed at maritime traffic, while Iran denied launching them. The suspension disrupts the UAE's role as a major trade and re-export gateway for Iran and may increase Iran's economic isolation. Continuing threats to shipping through the Strait of Hormuz also create economic risk for the UAE's regional business, finance and tourism position.
August 19, 2026
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Inflation persistence and expectations guide continued rate hold amid supply shocks and uncertainty over broader price pressures.
Monetary policy calibration remains contingent on clearer evidence that supply-side price shocks are becoming persistent, broad-based inflationary pressures. The policy rate was maintained unchanged amid uncertainty from higher energy costs, supply-chain disruption, an erratic monsoon and food, fuel and input-price risks. Policy tightening may be required if inflation becomes generalised, expectations become de-anchored, or inflation persists. A wait-and-watch approach was preferred pending clearer realised inflation, forecasts, weather effects and global conditions.
August 19, 2026
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Online credit card applications streamline comparison, eligibility screening and e-KYC, while approval remains subject to issuing-bank criteria.
Online credit card applications through the JioFinance app combine card comparison, eligibility checks, electronic verification, application submission and status tracking. Eligibility screening may occur without affecting the applicant's credit score, but approval remains subject to the issuing bank's criteria and internal policies. Aadhaar-based e-KYC or other accepted electronic verification may be used where applicable. Applicants should provide accurate Aadhaar, PAN and mobile details. Eligible approved applicants may receive a virtual card before physical-card delivery, subject to applicable terms and conditions.
August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.

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Unusual extension of Budget session that saw passage of key bills despite Oppn uproar

April 2, 2026

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New Delhi, Apr 2 (PTI) The second half of the Budget session of Parliament that saw the passage of some key legislations despite opposition uproar got an unusual extension with the government reconvening both the houses on April 16.

Lok Sabha and Rajya Sabha were adjourned Thursday and will again meet on April 16 for three days for taking up key legislations to implement women's reservation by increasing Lok Sabha seats from the current 543 to 816.

The second half of the budget session that started on March 9 was to end on April 2, but both the houses were not adjourned sine die after the conclusion of business.

Parliamentary Affairs Minister Kiren Rijiju informed Rajya Sabha that some "key legislations" would be taken up during the extended sitting and the houses would not be adjourned indefinitely.

The second part of the session saw the passage of the Finance Bill 2026-27 and the Demands for Grants for various ministries, apart from the Appropriation Bill, thus completing the budgetary exercise in Parliament.

Finance Minister Nirmala Sitharaman replied to the discussion on the Finance Bill in both the houses and answered queries raised by the members.

The session started in the shadow of the West Asia crisis after US-Israel attacked Iran on February 28, with opposition demanding a discussion on the issue.

However, Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and Petroleum and Natural Gas Minister Hardeep Singh Puri, gave statements on the West Asia conflict and its impact on India. The Opposition created uproar, claiming that their queries were not answered.

The Opposition also staged several protests both inside and outside Parliament on the shortage of oil and LPG, even as the government accused it of trying to spread rumours to create unrest among people.

Both Rajya Sabha and Lok Sabha witnessed high productivity during the budget session, with 100 and 79 per cent respectively, according to PRS Legislative Research.

While Lok Sabha spent over 50 per cent time on financial business and 20 per cent on other legislations, Rajya Sabha spent around 35 per cent on financial business and 17 per cent on legislations, besides 50 per cent on non legislations.

The Opposition staged walkout in both houses during passage of crucial bills, claiming that they were dissatisfied with the response of the government.

As many as seven bills were introduced in both the houses, of which five were passed during the second part of the session.

These included The Central Armed Police Forces (General Administration) Bill, 2026, The Andhra Pradesh Reorganisation (Amendment) Bill, 2026, The Transgender Persons (Protection of Rights) Amendment Bill, 2026, The Jan Vishwas (Amendment of Provisions) Bill, 2026, and The Insolvency and Bankruptcy Code (Amendment) Bill, 2025.

There was Opposition uproar on the Central Armed Police Forces (General Administration) Bill, which demanded that the bill be sent to a Parliamentary panel for further scrutiny as it went against a Supreme Court ruling restricting the number of IPS officers in central armed forces.

The legislation seeks to create a unified legal framework governing personnel across different Central Armed Police Forces (CAPFs), replacing the current patchwork of separate service-rule regimes for the five central forces.

The Andhra Pradesh Reorganisation (Amendment) Bill, 2026 saw Parliament gave its nod to Amaravati as the new capital of Andhra Pradesh after amending the original act of 2014.

The Transgender bill sought to amend a law on protection and rights of transgender persons that proposes excluding social orientations from the ambit of the statute, with Rajya Sabha giving its nod, even as opposition members pressed for sending it to a select committee.

The bill also provides for graded punishment based on the gravity of harm inflicted on such people.

The Opposition also created din in both houses on the Transgender Bill, saying the rights of gays and lesbians have not been taken care of by the government and termed the bill as discriminatory.

The Jan Vishwas (Amendment of Provisions) Bill sought to amend 784 provisions in 79 central laws for decriminalising and rationalising minor offences to further improve business environment and check harassment of people.

The Insolvency and Bankruptcy Code (Amendment) Bill sought to provide faster resolution of stressed firms and reduce case backlog. Finance Minister Sitharaman emphasised that the intent is not to liquidate companies but to help them run with guardrails.

However, The Foreign Contribution (Regulation) Amendment Bill, 2026 was not taken up by the government during the session, following strong objections from the opposition. The Corporate Laws (Amendment) Bill, 2026, was sent to the Parliamentary Committee for further scrutiny.

The session also saw the suspension of eight opposition MPs being revoked, after Lok Sabha passed a motion in this regard. They were suspended during the first part of the budget session, when they created uproar in Lok Sabha for disallowing Leader of Opposition Rahul Gandhi to speak in the house. PTI TEAM SKC ZMN

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