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    UK Foreign Secretary to visit India, China for talks on global challenges
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May 31, 2026
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UK-India trade and global security talks drive Yvette Cooper's visit to China and India amid wider cooperation plans.
UK Foreign Secretary Yvette Cooper is due to visit China and India for talks on global challenges, bilateral cooperation and the UK-India Vision 2035. The discussions are expected to cover the Strait of Hormuz, Russia's invasion of Ukraine and the Ebola outbreak in Africa, while the India visit will include engagement with business, academia and government stakeholders linked to the free trade framework.
May 31, 2026
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Onion growers' revival package demand centers on export stability, price protection, storage support and direct farmer assistance.
Onion growers in Maharashtra have sought a comprehensive revival package and a stable long-term export policy to address losses attributed to repeated export bans, export duty, minimum export price restrictions, buffer stock releases at low domestic prices, and crop damage from adverse weather, disease, spurious seeds and storage losses. The association also wants direct transfer of assistance into farmers' bank accounts, subsidies for certified seeds and storage infrastructure, and support for processing industries and farmer-owned value-added units.
May 31, 2026
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Windfall gains tax on fuel exports reduced as export duties and cess are eased while domestic rates stay unchanged.
Windfall gains tax on export of petrol, diesel and aviation turbine fuel was reduced from 1 June, with the levy on petrol cut to Rs 1.5 per litre, diesel reduced to Rs 13.5 per litre and aviation turbine fuel reduced to Rs 9.5 per litre. Road and infrastructure cess on export of petrol and diesel was made nil, while domestic duty rates on petrol and diesel remained unchanged.
May 30, 2026
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Cooperative fund misappropriation alleged through fabricated entries and diversion of government deposits for personal use.
Cooperative funds management was alleged to have been manipulated through fabricated day-book entries and diversion of government deposits by a former secretary of a service co-operative society. The allegations concern misappropriation of funds entrusted during his tenure, where the account records were shown as balanced while the corresponding cash was not deposited into the cooperative bank. The funds were stated to have been meant for agricultural and cooperative development schemes and were allegedly diverted for personal use.
May 30, 2026
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Money laundering and organised crime charges framed against accused over alleged extortion, impersonation, and layered proceeds of crime.
Delhi court ordered framing of charges in a money-laundering prosecution against Jacqueline Fernandez, Sukesh Chandrashekhar and others, finding prima facie material for proceeding under Section 3 of the Prevention of Money Laundering Act, punishable under Section 4. The allegations concerned proceeds of crime generated through extortion, cheating, impersonation and criminal intimidation, and their concealment, layering and projection as untainted property. In the connected case, charges were also directed under MCOCA, the Information Technology Act and related penal offences for organised crime and personation of public servants.
May 30, 2026
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Limited trade arrangement shapes India-EAEU free trade talks as negotiations on product-group liberalisation gain momentum.
India and the Eurasian Economic Union are discussing a limited and temporary trade arrangement covering selected groups of goods as part of negotiations for a proposed free trade agreement. The arrangement is being considered as a product-group-based free trade zone rather than a full liberalisation package. The trade liberalisation process has gathered momentum, with Terms of Reference signed to launch negotiations and the first round of talks already held.
May 30, 2026
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Database activity monitoring strengthens regulated sectors with real-time visibility, privileged access control, and compliance-ready audit trails.
Database Activity Monitoring platform for regulated organisations is presented as a security and compliance tool designed to address the lack of continuous, forensic-grade visibility at the database layer. It monitors query-level activity, privileged access, insider threats, and SQL behaviour in real time, while generating immutable audit trails and supporting forensic session replay and behavioural analytics. The platform operates through a fully on-premises, air-gap architecture, keeps data within the customer's infrastructure, and is aligned with major regulatory and security frameworks through audit logging, retention, access monitoring, and incident reporting.
May 30, 2026
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On-screen marking irregularities draw allegations of tender manipulation, with calls for a CBI probe and ministerial accountability.
Congress leaders alleged serious irregularities in CBSE's introduction of the On-Screen Marking System for Class 12 exams and the award of the related contract. They questioned changes in tender conditions on bidder eligibility, turnover, capability standards, data-centre requirements, and blacklisting safeguards, saying these revisions may have favoured a particular vendor. They demanded accountability from the Education Minister and called for a full CBI probe and an independent judicial inquiry.
May 30, 2026
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Cautious resilience in India's macroeconomic outlook as external shocks, monsoon risk and inflation pressures demand policy agility.
India's near-term macroeconomic outlook reflects cautious resilience amid likely moderation in economic activity, a below-normal monsoon risk, and persistent external and inflationary pressures. Domestic fundamentals remain broadly intact, supported by expansionary PMI readings, stable labour markets and foreign exchange reserves, while global headwinds from the West Asia conflict, elevated energy prices and tighter financial conditions continue to weigh on the outlook. Policy will need to remain agile across monetary, fiscal and structural dimensions to safeguard growth and keep inflation anchored.
May 30, 2026
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Gold exchange and import duty shape India's high gold import demand as consumers seek transparent valuation and lower cost buys.
India's gold imports remain high because domestic supply cannot meet demand for jewellery, investment, and seasonal purchases. Gold continues to serve as a cultural asset and family savings instrument, so demand persists even when prices rise. Rising prices and import duty have encouraged more consumers to use gold exchange, with organised jewellers gaining trust by offering transparent weighing, purity testing, separate stone valuation, and clear exchange practices that reduce dependence on freshly imported gold.
May 30, 2026
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Budget smartphone comparison highlights 4G affordability, 5G performance upgrades, and flexible Easy EMI purchase options.
TECNO expanded its budget smartphone lineup in India with the launch of the TECNO Pop X and TECNO Pop X 5G, positioned for different user needs and price segments. The standard model is an affordable 4G phone for everyday use, while the 5G model offers a larger display, stronger processor, improved camera system, bigger battery, faster charging, and dual 5G connectivity. Both phones are available through Bajaj Finance partner stores and may be purchased on Easy EMIs with flexible repayment tenures.
May 30, 2026
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Industrial park development gains focus as BHAVYA consultation outlines testing infrastructure, funding structure, and implementation-ready project planning.
Strengthening implementation of the BHAVYA Scheme through stakeholder consultation focused on investment-ready industrial parks, quality infrastructure and testing facilities, including the role of National Test House and Bureau of Indian Standards in supporting product testing, certification, standards compliance and quality control orders. The consultation addressed the BHAVYA Scheme framework and implementation roadmap, including eligibility conditions, land requirements, SPV structures, funding provisions, monitoring arrangements and the framework for private developer-led industrial parks. Detailed guidance was also given on preparation and submission of Detailed Project Reports, project identification, land readiness, infrastructure planning, connectivity, utilities, institutional arrangements and documentation requirements.
May 30, 2026
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Corporate Social Responsibility through zero coupon zero principal instruments enables regulated funding for public welfare projects on social stock exchange.
Corporate Social Responsibility has been expanded to include subscription to zero coupon zero principal instruments on the Social Stock Exchange, with Schedule VII widened to cover this activity. The CSR Policy Rules, 2014 now define Not for Profit Organization and Zero Coupon Zero Principal Instrument and prescribe conditions for implementation through such instruments under Rule 4A. The framework assigns project execution and evaluation to the NPO, requires issuance in accordance with Securities and Exchange Board of India regulations, and caps company expenditure on such instruments at ten per cent of annual CSR spend.
May 30, 2026
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Financial innovation and digital payments gain cross-border boost through India-Vietnam cooperation on QR code merchant payments.
The Reserve Bank of India and the State Bank of Vietnam signed a Memorandum of Understanding to promote cooperation in financial innovation and digital payments, including information exchange, regulatory coordination, and payment system connectivity for cross-border QR code-based merchant payments. The framework contemplates joint programmes and projects, sharing of standards and best practices, and development of cross-border payment linkages subject to applicable laws and regulations.
May 30, 2026
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Public Sector Banks performance review highlights record profitability, stronger asset quality, digital lending, and unclaimed asset restitution efforts.
Public Sector Banks were reviewed for business growth, profitability, asset quality, financial inclusion, digital lending, cyber resilience and operational risk management, with emphasis on governance, resilience and customer service. The review noted record aggregate business and net profit, with gross and net non-performing assets at historic lows, reflecting balance-sheet strengthening and prudent risk management. The meeting also highlighted efforts to trace and restitute unclaimed financial assets, launched a revamped multilingual and accessible Department of Financial Services website, and reviewed digital lending, grievance redressal, cost discipline and preparedness against global uncertainties.
May 29, 2026
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GST return compliance triggers provisional assessment, tax demand and proposed registration cancellation for persistent filing defaults.
GST authorities initiated action for persistent non-filing and delayed filing of GST returns, leading to a provisional assessment of tax liability under the CGST and SGST framework. The department issued a tax demand based on repeated irregularities in return compliance and also proposed cancellation of GST registration through a show-cause notice. The matter concerns return-filing obligations, provisional assessment, tax demand, and registration-cancellation proceedings under GST law.
May 29, 2026
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L-1 liquor licence denial turns on whether pending money laundering prosecution can justify refusal under excise law.
Wholesale liquor supply L-1 licence was denied on the basis of a pending money laundering prosecution. The challenge argued that, without conviction, there was no criminal background for licence denial under the Delhi Excise Act, and that discharge in the scheduled offence undermined the PMLA case. The High Court declined to interfere with the refusal and treated the pending prosecution as relevant to the licence applications.
May 29, 2026
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On-screen marking transparency faces answer-sheet mix-ups as CBSE reviews scanning quality and portal integration issues.
Around 20 answer-sheet mix-up cases were reported in CBSE's first-time on-screen marking process, with students identifying mismatched scanned copies through the portal. The board later shared the correct answer sheets with affected students and treated the complaints as top-priority concerns in the revaluation process. Scanning-quality issues also led to rescanning of about 68,000 answer sheets, while a little over 13,000 still did not attain the required legible quality even after rescanning.
May 29, 2026
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Rupee strength against the US dollar gains support from softer crude, weaker dollar and improved US-Iran ceasefire sentiment.
The rupee strengthened against the US dollar on improved market sentiment after optimism over a US-Iran ceasefire extension, lower crude oil prices and a softer dollar. Market participants also noted suspected central bank support, while attention shifted to the upcoming RBI Monetary Policy Committee meeting and its balance between currency stability and inflation management. Broader market conditions showed equity weakness, net foreign institutional selling and a decline in India's foreign exchange reserves.
May 29, 2026
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PMLA jurisdiction dispute over ED probe before scheduled offence and natural justice objections in appeal
CMRL has filed an appeal challenging an order permitting the Enforcement Directorate to continue a PMLA investigation before a formal FIR or final report by the SFIO. The company contends that no scheduled offence existed when the probe began and that a later complaint could not retrospectively confer jurisdiction on the ED. It also raises a natural justice objection, alleging that additional affidavits were allowed after reservation and that it was denied an opportunity to respond.

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Customs & Trade

India, US signal thaw as Jaishankar and Rubio hold candid talks to re-energise relations

May 24, 2026

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New Delhi, May 24 (PTI) India and the US on Sunday sought to signal a reset in their strained ties as External Affairs Minister S Jaishankar and his American counterpart Marco Rubio held frank discussions on thorny issues such as trade, visas, energy security, cross-border terrorism and the implications of the West Asia conflict.

Rubio, who is on a four-day visit to the country, described New Delhi as a major power and dismissed observations that the US-India relationship has lost its two-decade momentum, firmly asserting that the engagement will grow much stronger by the end of the current administration's tenure.

In a clear statement of India's foreign policy priorities, Jaishankar outlined a strategic five-point blueprint for global stability, asserting that India advocates dialogue and diplomacy to address conflicts, supports unimpeded maritime commerce, demands respect for international law and is against "weaponisation" of market shares and resources.

In their first comprehensive dialogue after the India-US ties witnessed major downturn, the two sides primarily focused on vigorously bolstering cooperation in areas of defence, critical minerals, high technology and economic engagement.

"The US-India relationship has not lost any momentum. I understand why some people might say that. I don't understand, but I understand some people say that. This is not about India. This is about the United States in terms of trade," Rubio said at a joint press conference with Jaishankar while responding to a question from PTI.

Rubio called India an important strategic partner of the US and stressed that both sides are aligned on a range of key issues. "India is an important strategic partner of the United States, one of our most important strategic partners in the world," he said.

The relations between the two countries witnessed a major downturn after Washington imposed punitive tariffs on India and President Donald Trump made controversial assertions regarding his role in de-escalating the India-Pakistan military clashes last May.

"Let me state India's broad position... And I would make five points here. One, that we advocate dialogue and diplomacy to address conflicts. Two, we support safe and unimpeded maritime commerce," Jaishankar said.

"Three, we demand scrupulous respect for international law. Four, we are against the weaponisation of market shares and resources. And five, we believe in the value of trusted partnerships and resilient supply chains to de-risk the global economy," he said.

In the talks, Jaishankar forcefully mentioned about how the West Asia crisis has significantly hit India's energy security and brought economic woes, people familiar with the matter said.

The external affairs minister also underlined the importance for India to have multiple sources of energy, emphasising that the energy market should not be "distorted".

"The way we will deal with the current situation in Hormuz and frankly, going forward as well, is to diversify our energy sources, because that is at the heart of our energy security, and that is why we feel strongly that the energy market should not be distorted, should not be constrained.

"It is important to keep energy prices down for global growth," he said.

Jaishankar said India is one of the very few countries that have very good relations with the United States, Israel, Iran and the Gulf countries.

"So we have real interest there. For us, the challenge in this situation is how to maintain all these relationships, how to protect our equities, how to advance our interests. We don't look at it as a zero-sum game," he said.

"We have to manage and take care of all these accounts. I would say there are some general principles by which we would approach this region.

"Obviously, we want peace and stability in the region," he said.

The external affairs minister said India is very much in favour of safe and unimpeded maritime commerce in the Strait of Hormuz.

In the context of energy security, Jaishankar said that there has been a "very significant uptick" in India's energy imports from the US.

"India and the United States both have a very strong interest in ensuring that there is safe and unimpeded maritime commerce. We also have a very strong interest in ensuring that globally energy prices are kept low and that energy sources are more available," he said.

Citing fragile geopolitical situation, Jaishankar said India has very strong relations with the US, Russia, Europe, Ukraine and countries around the world.

"The question then is how do you manage all of them. So in that sense, it is multi-alignment because today's India has that range of interests which require us to manage multiple accounts." The external affairs minister also flagged India's concerns with Rubio over the Trump administration's changes to visa and immigration policies, saying legal mobility should not be adversely impacted by the new approach.

The US Secretary of State acknowledged that there could be "some bumps" and "friction points" in the period of transition as the US is trying to improve the immigration system but ultimately an "efficient" framework will be helpful to every stakeholder.

The Secretary of State said the current process to reform the immigration system is not targeted at India at all.

"Anytime you undertake a reform, any time you undertake a change in the system by which you admit people, there's going to be a period of transition that's going to create some friction points and some difficulties," he said.

"It is not a system that is targeted at India; it is one that's being applied globally. But we're in a period of transition, and like any period of transition, there's going to be some bumps on that road." Answering a question on economic ties, Rubio said India and the US are poised to soon firm up the much-awaited trade agreement that will be both "beneficial" and "sustainable" and would advance the mutual interests of both nations.

"We've made tremendous progress, and I think we're going to wind up with a trade agreement between the US and India that is going to be enduring and is going to be beneficial to both sides and sustainable in a way that addresses national interest that we have," he said.

To a question on Washington's increasingly warm ties with Pakistan and China, Rubio said: "As far as our relations with other countries are concerned, we have relations and we work at the tactical level in many ways with countries all over the world, so does India, like every other responsible nation." "But I don't view our ties with any country in the world as coming at the expense of our strategic alliance with India," he said.

In his remarks, Jaishankar also talked about shared challenges of India and the US.

"Prominent among them is terrorism. Our position in that regard is very clear. It is one of zero tolerance. We appreciate the strong cooperation between the concerned agencies of our two countries in this domain," he said.

"I particularly recognised the extradition from the United States to India last year of a key planner of the 26/11 Mumbai attacks. Our two countries will intensify cooperation bilaterally, as well as in relevant international forums. We will continue to collaborate closely on countering illegal trade," he said.

Hours later, Jaishankar described his talks with Rubio as "good discussions".

Reviewed the entire spectrum of our Comprehensive Global Strategic Partnership, including trade and energy, defence and security, critical minerals and AI, nuclear and people-to-people, counter-terror and counter-narcotics cooperation, he said on 'X'.

"Look forward to joining Secretary Rubio and our colleagues from Australia and Japan for the QUAD Foreign Ministers' meeting on Tuesday," he said.

Rubio also met National Security Advisor (NSA) Ajit Doval.

"The discussions focused on defence, security and strategic technology related cooperation including the TRUST initiative," External Affairs Ministry spokesperson Randhir Jaiswal said.

"The two NSAs reiterated the high priority accorded to the bilateral Comprehensive Global Strategic Partnership. They also exchanged views on regional and global issues," he said.

Rubio also holds the post of National Security Advisor in the Trump administration. PTI MPB RT RT

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