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    Central Government notifies export levies on exports of petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning 1st June, 2026
    Central Government temporarily exempts all customs duties on import of cotton from 1st June, 2026 till 31st October, 2026
    India and Oman energize a new Trade Gateway through a landmark Comprehensive Economic Partnership Agreement (CEPA)
    Delhi HC grants bail to PFI's physical education trainer in money laundering case
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    Clayfin Expands into Voice AI Capabilities with Strategic Acquisition of Louie Voice
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    D. Y. Patil Deemed to be University Online Launches India’s First Online MBA in Product Management Alongside New-Age Programs in Fintech and AI
    India’s seafood exports hit record high in 2025–26: Official
    Kings Infra Reports Strong FY 2025-26 Performance Revenue grows 30.13% to INR 162.15 Crore | PAT rises 24.41% to INR 16.36 Crore | EPS at INR 6.68
    Anondita Medicare Limited Secures First Export Order Worth INR 43.14 Crore Under South African Government Condom Tender Program
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    DRI intensifies anti-narcotics drive in Kerala under Operation Chakravyuh; 24 kg narcotic contraband seized; 5 arrested
    DRI seizes around 105 kg ganja in Bihar in its anti-narcotic drive; two arrested
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June 1, 2026
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Export levies on petrol, diesel and ATF are revised fortnightly to support domestic fuel availability.
Export levies in the form of Special Additional Excise Duty and Road and Infrastructure Cess are imposed on exports of petrol, diesel and aviation turbine fuel to support domestic availability of petroleum products by discouraging exports. The levy rates are reviewed and revised on a fortnightly basis according to average international prices of crude oil and petroleum products prevailing since the last review. No change is made to the existing excise duty rates on petrol and diesel cleared for domestic consumption.
June 1, 2026
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Customs duty exemption on cotton imports aims to ease input costs and improve raw material availability for the textile sector.
Temporary exemption from all customs duties on import of cotton is provided to improve cotton availability for the Indian textile sector during the specified period. The measure is intended to reduce input costs across the textile and apparel sector, support manufacturers and consumers, and balance the interests of domestic farmers. It is also expected to assist small and medium enterprises by easing raw material constraints.
June 1, 2026
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India-Oman CEPA expands duty-free access, services commitments and trade facilitation across goods, investment and professional mobility.
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) entered into force on 1 June 2026, creating a framework for trade, services, investment, logistics and regulatory cooperation. The Agreement gives duty-free access to 99.38% of India's exports to Oman, while India liberalizes tariff lines with safeguards for sensitive sectors such as dairy, cereals, fruits, vegetables, edible oils, oilseeds, rubber, leather and spices. It also includes trade-facilitation measures, non-tariff barrier reduction, sector-specific market access and commitments on services and professional mobility.
June 1, 2026
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PMLA bail turns on limited role, minimal traced transactions, prolonged custody, and parity with a co-accused.
Regular bail under the PMLA turned on the accused's limited alleged role, the small quantum of traced transactions, and the stage of the proceedings. The court treated the petitioner's involvement as non-pivotal, considered the custody period and likely trial delay, and held that prolonged pre-trial incarceration would not be justified on the material placed before it. Parity with a co-accused and the non-determinative nature of protest-related allegations were also relevant.
June 1, 2026
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Cross-border business connectivity drives Citi's India Conference focus on investment, capital markets, and economic growth themes.
Citi is set to host its flagship India Conference 2026 in Mumbai as a two-day forum bringing together corporate leaders, investors, clients and thought leaders from the financial and business ecosystem. The conference will serve as a platform for discussions, networking and knowledge-sharing on themes shaping business, investment and economic activity in India and globally. Sessions are expected to cover the macroeconomic outlook, policy environment, capital markets, emerging investment trends, artificial intelligence, digital infrastructure and innovation.
June 1, 2026
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Rupee weakness against the US dollar intensifies as geopolitical tensions, crude prices and dollar strength weigh on sentiment
Rupee depreciated against the US dollar amid renewed geopolitical tensions, higher crude oil prices and a stronger dollar overseas. Market participants linked the weakness to adverse global risk sentiment, rising US Treasury yields and uncertainty around continued peace talks, while attention shifted to the upcoming RBI Monetary Policy Committee meeting. The broader backdrop included a firmer dollar index, higher Brent crude futures, lower domestic equity indices, net foreign institutional outflows, a fall in India's forex reserves and higher gross GST collections in May.
June 1, 2026
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Voice AI banking expands accessibility as Clayfin acquires Louie Voice to enable simpler digital transactions.
Clayfin has acquired Louie Voice, a voice banking platform that uses Voice AI to enable end-to-end banking transactions through natural voice commands within mobile applications and websites. The platform is designed to improve accessibility and inclusivity by reducing manual navigation and supporting users across different literacy levels, age groups, language preferences, and accessibility needs. It supports 11 Indian and 40 global languages and is intended to expand AI-led digital engagement and voice banking experiences for financial institutions.
June 1, 2026
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Comprehensive Economic Partnership Agreement opens preferential market access for Indian exporters in Oman across key sectors.
India and Oman have brought into force their Comprehensive Economic Partnership Agreement, enabling preferential market access in Oman for Indian exporters in sectors such as textiles, leather, plastics, marine products, automobiles, sports goods and agri-items. The agreement was signed in Muscat on 18 December 2025 and entered into force on 1 June 2026, after completion of internal processes by both parties.
June 1, 2026
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Online education programmes expand industry-aligned training in product management, fintech, digital banking, applied AI and modern computing.
Online education programmes were launched to address demand for industry-aligned digital talent in product-led business models, fintech, artificial intelligence and modern computing. The launch includes an Online MBA in Product Management, together with an Online MBA in Fintech & Digital Banking and an Online MCA in Applied AI and Modern Computing. The product management curriculum combines management study with product strategy, user-centric innovation, agile methodologies, analytics, go-to-market execution and digital transformation.
June 1, 2026
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Seafood exports record growth as frozen shrimp drives India's overseas earnings and major markets stay strong.
India's seafood exports reached a record level in 2025-26, with frozen shrimp remaining the dominant export item and the main contributor to foreign exchange earnings. The Marine Products Export Development Authority reported that the United States, China, the European Union and Southeast Asia were major markets, while frozen fish, dried products, squid, cuttlefish, chilled products and live products also contributed to export earnings. Visakhapatnam Port, Jawaharlal Nehru Port Trust and Kochi Port were the leading ports handling seafood cargo.
June 1, 2026
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Aquaculture and export strategy drive stronger revenue, profitability, and a five-pillar execution framework for the next year.
Revenue from operations for FY 2025-26 increased to INR 162.15 crore, with EBITDA, profit before tax, and profit after tax also rising year on year. The company attributed the performance to focus on aquaculture and exports, disciplined cost management, and stronger farm-level operations. It also set out a five-pillar FY 2026-27 execution framework covering strategic alliances, consolidation, digitisation, monetisation, and optimisation.
June 1, 2026
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Export business advances as Anondita Medicare secures first South African government condom supply order under tender framework.
Export business under a South African government procurement programme advanced when Anondita Medicare Limited secured its first export purchase order for male condoms from Supra Healthcare Johannesburg (Pty) Ltd. The order, valued at approximately INR 43.14 crore, covers supply and delivery equivalent to 50 forty-foot containers and is expected to be executed by 30 September 2026. The transaction marks the commencement of supplies under the approved South African tender framework and is described as strengthening the company's export business.
June 1, 2026
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Revenue growth and record order book drive Exato Technologies' FY26 expansion, profitability gains, and global footprint.
Exato Technologies Limited reported strong FY26 consolidated financial performance, with revenue from operations rising 35% year-on-year and Profit After Tax increasing by 67% year-on-year. The company also disclosed a record order book of INR 600 crore, reflecting strong revenue visibility, and noted expansion through a wholly owned subsidiary in Australia alongside existing subsidiaries in the USA and Singapore.
June 1, 2026
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GST collections rise on stronger goods and services supplies, with import-linked receipts and net revenues also moving higher.
Gross GST collections increased in May on the back of stronger supplies of goods and services and continued growth in collections from imports. Domestic GST collections under CGST, SGST and IGST were reported for the month, while taxable supplies of goods and services recorded significant year-on-year growth, indicating firm domestic demand and resilience in consumption. IGST collections from imports also rose, GST refunds increased modestly, and net GST revenues were higher after adjustment of refunds.
June 1, 2026
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Rising bond yields and debt sustainability concerns deepen affordability pressures and heighten political risk ahead of the mid-term elections.
Rising US bond yields and higher Treasury borrowing costs are intensifying affordability pressures, slowing growth expectations and increasing political risk as investors reassess the sustainability of government debt. Economists quoted in the report say the administration's stated deficit-reduction measures are unlikely to materially close the gap, while debt-service costs have already risen sharply and are projected to remain a major budget burden. Higher rates are feeding into mortgage costs, car sales weakness and broader voter concerns about living costs ahead of the mid-term elections.
June 1, 2026
Show AI Summary
Rupee weakness reflects crude oil pressure, safe-haven dollar demand and suspected central bank support in the forex market.
The rupee weakened in early trade against the US dollar amid higher crude oil prices, a firmer dollar index and heightened geopolitical tensions linked to the Israel-Lebanon conflict. Market participants also referred to suspected RBI intervention in the currency market, a decline in India's forex reserves and net foreign institutional investor selling in equities.
June 1, 2026
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Anti-narcotics operations under Operation Chakravyuh seize narcotic contraband and expose trafficking through baggage, courier consignments and export cargo.
Coordinated anti-narcotics operations by the Cochin Unit of the Directorate of Revenue Intelligence under Operation Chakravyuh led to the seizure of narcotic drugs and psychotropic substances, including methaqualone, methamphetamine and hashish oil, intended for illicit distribution and trafficking. The contraband was detected through passenger baggage at an airport, concealment in courier consignments and outbound export cargo. More than 24 kg was seized and five persons were apprehended under the Narcotic Drugs and Psychotropic Substances Act, 1985.
June 1, 2026
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Anti-narcotic enforcement targets illicit ganja transportation, with seizure and arrests under the NDPS Act.
Anti-narcotic enforcement action involved the seizure of 104.9 kg ganja in Bihar and the arrest of two persons for illicit transportation under the relevant provisions of the NDPS Act, 1985. The action formed part of a continuing drive by the Directorate of Revenue Intelligence to curb drug trafficking and dismantle narcotics supply networks across India.
June 1, 2026
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Free trade agreement negotiations with India gain momentum as Canada seeks new market access for exporters and sector opportunities.
Canada and India are continuing negotiations on a proposed free trade agreement/Comprehensive Economic Partnership Agreement amid renewed bilateral engagement after talks stalled in 2023. Canadian officials said the negotiations remained active and could conclude later in the year, while the discussions are aimed at keeping Canadian businesses competitive and opening new markets for Canadian exporters. The summit also highlighted agricultural trade issues, including Canadian pulse exports and existing Indian duties on yellow peas and lentils.
May 31, 2026
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Free trade agreement talks gain momentum as Canadian and Indian officials signal renewed optimism over a comprehensive partnership deal.
Canadian and Indian officials expressed optimism that negotiations on a proposed Comprehensive Economic Partnership Agreement would resume and advance after talks stalled in 2023, reflecting renewed bilateral engagement between the two countries. Public comments at a business summit indicated continuing discussions on a free trade agreement and confidence that a deal could be reached later in the year, alongside a broader push to expand bilateral trade.

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PMLA / Black Money

ED raids on Vijayan's residences 'politically motivated': CPI(M) gen secy M A Baby

May 27, 2026

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Thiruvananthapuram/New Delhi, May 27 (PTI) CPI(M) general secretary M A Baby on Wednesday alleged that the ED raids at the residences of former Kerala CM Pinarayi Vijayan and others were "politically motivated" and termed them as a "heinous attack".

Speaking to reporters in Delhi, Baby said the CPI(M) will prove before the people that the raids were "politically motivated".

Citing reports, he claimed that two ministers in the cabinet of current Chief Minister V D Satheesan also allegedly received money from the Cochin Minerals And Rutile Ltd (CMRL) and the same should have been investigated.

"That was the first thing which should have been investigated," he contended.

He said such moves will not intimidate the CPI(M) or Vijayan and "anyone who thought it would, did not know the party or its leader very well".

Recalling Vijayan's past experience as a Communist leader, CPI(M) leader Baby said that the former Kerala CM was arrested and faced brutal police assault when he was a young MLA during the emergency declared by Indira Gandhi.

"There have been many such bad experiences as far as he (Vijayan) and CPI(M) are concerned. The Congress government tried to target us by accusing us of being foreign spies.

"Now, the neo-fascist government under Narendra Modi is trying to eliminate (opposition) political parties through intimidation," he alleged, referring to the action taken against AAP leaders Arvind Kejriwal and Manish Sisodia.

Baby also contended that prominent leaders of the Congress and the UDF had been publicly questioning why no action was being taken against Vijayan by central agencies.

"I don't know if they are satisfied now, following these raids," he added.

The CPI(M) general secretary also claimed that the allegations against Vijayan's daughter Veena were "fabricated".

In a post on X, Baby raised questions over the political context of the raid.

"Is the Congress-led UDF in Kerala complicit in this raid?" he asked, suggesting that the episode warranted scrutiny over possible political coordination.

In his reaction, Senior CPI(M) leader P Jayarajan alleged that the ED raids at the residence of Vijayan and others were part of a "joint Congress-BJP operation" and their "grand design".

Speaking to reporters outside Vijayan's home in Kannur, he said the searches followed the meeting between Kerala CM V D Satheesan and Prime Minister Narendra Modi.

"Menon Satheesan and Modi had a meeting. Right after that, raids were carried out at the permanent and rented homes of Vijayan and the house of his son-in-law P A Mohamed Riyas." "This is all part of a clear planning, a grand design. I believe the people will see it for what it truly is," he added.

As the ED raids continued, CPI(M) leader Muhammad Riyas said his party would not "bow before the Sangh Parivar".

In a Facebook post, Riyas, who is also Veena's husband and a CPI(M) state secretariat member, said, "You may surround and attack us however you want. But we will not bow before the Sangh Parivar. We will continue fighting until our final breath." CPI(M) state secretary M V Govindan told reporters in Thiruvananathapuram that the case against Vijayan was “deliberately fabricated” and asserted that there was no evidence against either the former chief minister or anyone associated with him.

“What is happening against Pinarayi Vijayan now is a politically motivated attack and an exercise in imagination,” he said.

According to him, even the Delhi High Court had earlier “thrown the allegations into the dustbin” by observing that there was no substance in them.

There was not even an FIR in the matter, and the Kerala High Court had only permitted further probe into the allegations.

The CPI(M) leader said the raids were the latest example of attempts to politically attack the party in Kerala through investigations against Vijayan.

Defending Veena Vijayan, the Left leader said the payments made by Cochin Minerals and Rutile Ltd (CMRL) to her company were towards services rendered by the firm and not illegal transactions.

A total of 10 premises in Kerala, including the rental house of the 81-year-old former CM in the state capital here, a location in Kannur and houses of key persons of CMRL, a private entity, are being raided by ED as part of its investigation against his daughter, Veena, in the CMRL money laundering case.

The action was taken a day after the Kerala High Court dismissed a writ petition filed by CMRL seeking to quash the ED proceedings in the case, thereby allowing the central agency to continue its probe.

As per the ED's case, registered under the Prevention of Money Laundering Act (PMLA) in 2024, CMRL made an illegal payment of Rs 1.72 crore to Veena's company, Exalogic Solutions, during 2017 to 2020, even though the IT firm had not provided any service to the company.

The ED probe stems from a complaint filed by the Serious Fraud Investigation Office (SFIO), an investigative arm of the Ministry of Corporate Affairs.

The SFIO followed after the interim board for settlement of the Income Tax Department questioned the legitimacy of certain transactions undertaken by CMRL with Veena's now-defunct firm.

Baby claimed that the raids were carried out despite Veena cooperating with the SFIO and ED probes. PTI HMP AO LGK TGB HMP ROH

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