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    MSMEs are the true builders of India’s economic resilience: LG Sinha
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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.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
August 19, 2026
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Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
August 19, 2026
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Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
August 18, 2026
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Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification.
Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
August 18, 2026
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Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities.
Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.

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Customs & Trade

Avoid destination weddings abroad, opt for online school classes: PM continues austerity push

May 11, 2026

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Vadodara, May 11 (PTI) Prime Minister Narendra Modi on Monday doubled down on his austerity push and appealed to people to avoid destination weddings abroad and reduce consumption of edible oils amid the West Asia crisis, while suggesting holding temporary online classes for school students.

He reiterated his call for reduced fuel consumption, greater use of public transport and electric vehicles by citizens, and urged people to defer gold purchases in view of the crisis, which has caused large-scale global disruptions.

As a fragile ceasefire holds in West Asia, a region on which India relies heavily for crude oil and gas imports, Modi appealed to people to limit foreign travel and opt for work from home, a pandemic-era practice, wherever possible.

Addressing a gathering in Vadodara after inaugurating the Sardar Dham Hostel built by the Patidar community, the PM refrained from giving a direct reply to the Opposition criticism of his earlier remarks on embracing austerity and instead doubled down on his appeal for following such measures.

He acknowledged the adverse impact on India of the West Asian conflict, which started on February 28 with joint US and Israeli strikes on Iran, severely disrupting global supply chains and driving up global oil prices.

"First came the COVID-19 crisis, followed by global economic challenges, and now rising tensions in West Asia. The impact of all these circumstances is continuously being felt across the entire world, and India is certainly not immune to it," the Prime Minister said.

He termed the situation arising from the conflict in West Asia as one of the major crises of this decade.

"However, just as we were united in combating COVID-19, we will undoubtedly overcome this crisis as well," Modi told the gathering.

He noted digital technology has made many things easier and stressed the need to prioritise virtual meetings and work-from-home arrangements in both government and private offices.

"I would also urge certain schools to prioritise the arrangement of online classes for the time being," the PM said.

He said his government was making continuous efforts to ensure minimal impact of the crisis on common citizens, but stressed that the country needed the power of public participation.

"As citizens of India, we must prioritise our duties," he asserted, adding that whenever the country faced war or any major crisis in previous decades, citizens fulfilled their responsibilities upon the government's appeal.

"Today, too, there is a need for all of us to come together and fulfil our duties, thereby alleviating the burden placed on the nation's resources," he insisted.

He pointed out India spends "hundreds of thousands of crores of rupees" in foreign currency on imports and noted that prices of goods sourced from abroad were rising sharply while global supply chains had been disrupted.

"Through every small and big effort, we must reduce our consumption of imported products and refrain from personal activities that involve the expenditure of foreign currency," the PM maintained.

The Prime Minister appealed to people to avoid foreign vacations and destination weddings abroad, saying such activities involve significant expenditure of foreign currency.

"It is essential that we celebrate our vacations right here in India," he stated, adding that places like the Statue of Unity in Ekta Nagar in Gujarat could serve as a major tourism and destination wedding hub.

Referring to crude oil imports, Modi said a large part of the world sources oil from the same region (West Asia) that is currently embroiled in conflict.

"Therefore, until the situation returns to normalcy, we must all come together to undertake small, collective resolutions," he said, adding that he had raised the issue during his visits to Karnataka and Telangana on Sunday.

The Prime Minister appealed to citizens to reduce the use of petrol and diesel wherever possible and switch to Metro services, electric buses and public transport.

"Promote carpooling; those who own cars should carry multiple passengers in a single vehicle, and those who own electric two-wheelers should step forward to assist others," he said.

The Prime Minister called for reduced consumption of edible oils, saying the country spends significant foreign exchange on their imports.

"A substantial amount of the nation's wealth also flows abroad due to the import of gold. I urge all of you to defer the purchase of gold until conditions return to normal; there is no immediate necessity for it (gold buying)," he stressed.

Modi urged people to promote local products and advised cultivators to opt for natural farming to reduce reliance on fertilizers, another major imported commodities for India.

"The need of the hour is to transform 'vocal for local' into a mass movement and to embrace local products instead of foreign goods," he said.

Modi affirmed collective efforts by 140 crore Indians could become the country's greatest strength and asserted that no crisis should be allowed to impede its development journey.

Referring to recent assembly election results, the Prime Minister said the outcomes in West Bengal, Assam and Puducherry, where the BJP or its allies have emerged victorious, had created enthusiasm across the country.

He praised the BJP's impressive performance in the recent local body polls in his home state of Gujarat, saying the results were being discussed across the country.

"The people of Gujarat have always prioritised political stability," Modi stated, adding that economic growth accelerates wherever political stability prevails.

At the event, nine prominent Patidar organisations, including Sardar Dham and Umiya Dham, conferred the 'Sardar Gaurav Ratna' award on Modi for his contribution to the nation.

After the event, the PM held a 1.5-km-long roadshow in Vadodara. PTI PJT PD BNM RSY

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