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    RBI MPC preferred wait-and-watch stance amid food and fuel inflation risks: Minutes
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    United Arab Emirates suspends trade with Iran after coming under renewed missile fire
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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.
August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.

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Customs & Trade

From Pilibhit’s Flutes to Global Trade: Union Minister Shri Jitin Prasada ji Highlights India’s Packaging Vision at IIP Diamond Jubilee Celebrations

May 15, 2026

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The Indian Institute of Packaging (IIP) marked the beginning of its Diamond Jubilee Year celebrations on 14th May 2026 in Mumbai, commemorating 60 years of pioneering contribution towards packaging innovation, sustainability, education, research and industrial development in India. Established under the Ministry of Commerce & Industry, Government of India, IIP has played a vital role in strengthening India’s packaging ecosystem through scientific packaging practices, sustainable solutions, export competitiveness, skill development and technological advancement across industries.

The landmark celebration reflected on IIP’s rich six-decade journey while reinforcing its commitment towards building future-ready and environmentally responsible packaging solutions aligned with the vision of Viksit Bharat.

Hon’ble Union Minister of State for Commerce and Industry and Ministry of Electronics & Information Technology, Government of India, Shri Jitin Prasada ji graced the occasion as Chief Guest and delivered a powerful address on India’s growth story being driven by the twin engines of technology and trade.

Speaking at the event, Shri Jitin Prasada ji emphasized that under the visionary leadership of Prime Minister Shri Narendra Modi ji, India today is no longer viewed merely as a population of 1.4 billion people, but as a trusted global partner and one of the world’s largest aspirational markets.

He highlighted the growing importance of AI, machine learning, sustainable technologies and innovation-driven manufacturing in strengthening India’s packaging ecosystem and global competitiveness.

“The future belongs to nations that embrace innovation, quality and sustainability. The packaging sector will play a defining role in shaping India’s global competitiveness. We must make in India, package in India and design in India — not only for ourselves, but for the entire world,” Shri Jitin Prasada ji said.

The Minister stressed that Indian consumers today are highly aspirational and quality conscious, adding that the era where “export quality” was considered separate from domestic quality is now over.

“There can be absolutely no compromise on quality. Prime Minister Narendra Modi ji always emphasizes three things — quality, quality and quality,” he remarked.

Reflecting emotionally upon his own constituency Pilibhit, Shri Jitin Prasada ji shared that nearly 95 percent of the flutes used across the world are produced there, though very few people are aware of it globally.

“But with strong packaging, branding and visibility, even a traditional product like the Pilibhit flute can reach every corner of the world. That is the power of quality packaging and presentation,” he added.

The Minister also spoke extensively about the opportunities emerging through Free Trade Agreements and India’s evolving role as a preferred destination for manufacturing and investment.

Addressing students, innovators and MSMEs, he highlighted the importance of future-ready technologies, research, sustainable packaging, biodegradable materials and testing infrastructure to help Indian industries compete globally.

He also reiterated the Government of India’s commitment towards ease of doing business, mentioning landmark reforms like the Jan Vishwas Bill which significantly reduced outdated compliances and regulatory hurdles for entrepreneurs and investors.

“India wants to roll out the red carpet for investors, not red tape,” Shri Jitin Prasada ji said, urging global investors to view India not merely as a market, but as a long-term strategic partner.

The Minister also encouraged the packaging industry to embrace sustainability as a responsibility rather than a compliance burden, stressing the importance of biodegradable materials, recycling and green packaging solutions in the years ahead.

The event also witnessed the presence of Guest of Honour Shri Raju Desai, Vice President, Plastindia Foundation, along with senior government officials, policymakers, industry leaders, academicians, exporters, manufacturers, alumni and stakeholders from across the country.

Held under the leadership of Shri R K Mishra, IRS, Director, IIP, and Shri Prabhakar Bantwal, Chairman, IIP, along with the Governing Body Members and Team IIP, the Diamond Jubilee celebrations highlighted the growing importance of innovation, sustainability and collaborative growth within India’s packaging sector.

Adding further significance to the occasion, Amitabh Singh, Chief Postmaster General, Maharashtra Circle, released a special commemorative postal stamp honouring the Indian Institute of Packaging’s 60-year legacy. Shekhar Amberkar, Deputy Director & Head – International Packaging Centre, Indian Institute of Packaging, also played a key role in the celebrations and the institute’s international outreach initiatives.

The event also witnessed the unveiling of the official Diamond Jubilee logo, release of the Diamond Jubilee souvenir and signing of an MoU with FDDI, marking a new phase of collaborative growth and institutional development.

A special presentation on Bharat Packaging Expo 2027 was also showcased during the event, highlighting India’s growing global positioning in the packaging and manufacturing ecosystem and reinforcing the country’s vision towards innovation-led industrial growth.

The celebrations further served as a platform for discussions around smart packaging, circular economy practices, sustainable materials, innovation-driven manufacturing and the evolving future of packaging in an increasingly competitive global marketplace.

Speaking on the milestone, Shekhar Amberkar, Deputy Director & Head – International Packaging Centre, Indian Institute of Packaging, said: “For six decades, the Indian Institute of Packaging has stood as a catalyst for innovation, education and sustainability within India’s packaging sector. As we enter our Diamond Jubilee Year, we reaffirm our commitment towards building globally competitive, sustainable and future-focused packaging solutions that contribute meaningfully towards the vision of Viksit Bharat.” Amitabh Singh, Chief Postmaster General, Maharashtra Circle, said: “The commemorative postal stamp celebrating the Indian Institute of Packaging is a tribute to an institution that has contributed immensely towards industrial development, innovation and nation-building. Packaging today is not merely about protection and logistics, but also about sustainability, communication and economic growth.” The Diamond Jubilee Year celebrations are expected to continue through a series of conferences, industry engagements, academic initiatives, innovation-driven collaborations and sustainability-focused discussions across the year, highlighting the evolving role of packaging in India’s growth story.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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