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    RBI dismisses gold sale rumours; physical reserves stand steady at 880.52 tonnes
    Engaged with US on Sec 301 probe over concerns related to forced labour, excess capacity: Govt
    CBSE says 40,000 students complete re-evaluation process without issues
    Ajay Rajan joins Protean eGov Technologies Ltd. as Managing Director & Chief Executive Officer
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    Rs 2,004-crore homebuyer fraud: ED arrests 4 promoters for duping over 19,000 buyers
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    June 3, 2026
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    Gold reserve clarification: central bank denies sale reports and confirms physical stock remains unchanged.
    The Reserve Bank of India clarified that reports of a gold sale were incorrect and that its physical gold stock remains unchanged at 880.52 tonnes. It advised the public to rely on official information and noted that gold's share in India's foreign exchange reserves had increased over the relevant period.
    June 3, 2026
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    Section 301 trade probe over forced labour and excess capacity keeps India engaged as tariff proposal remains unfinalised.
    India remains engaged with the United States in Section 301 proceedings concerning allegations of forced labour and excess industrial capacity, while also pursuing finalisation of an interim trade agreement framework. The United States Trade Representative has issued findings in the forced labour investigation and proposed additional tariffs on imports from multiple economies, including India, but the measure remains only a proposal and is not yet final.
    June 3, 2026
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    Online re-evaluation and verification portal opens with Aadhaar-based login, digital payment and strict submission limits.
    CBSE has opened an online portal for verification of issues in scanned answer books and re-evaluation of answers, available only to students who have obtained scanned copies of evaluated answer books. Applications must be filed online within the prescribed window using Aadhaar-based login, with payment completed digitally through designated gateways. The board permits only one application each for verification and re-evaluation, and details become locked once submitted for payment.
    June 3, 2026
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    Digital Public Infrastructure drives Protean eGov Technologies' appointment of Ajay Rajan as Managing Director and Chief Executive Officer.
    Protean eGov Technologies Ltd. appointed Mr. Ajay Rajan as Managing Director and Chief Executive Officer, effective 1 June 2026, to support its next phase of growth. The appointment aligns with the company's focus on Digital Public Infrastructure, AI-enabled enterprise solutions, and international expansion. Mr. Rajan's background spans banking, fintech, and digital transformation, and the company says his leadership will reinforce governance, execution, and sustainable value creation.
    June 3, 2026
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    Forced labour trade duties pressure rupee as proposed US action and broader risk sentiment weigh on markets.
    The rupee weakened in early trade against the US dollar amid concern over a proposed US Trade Representative move to impose additional duties on India and other countries for alleged failures to prevent imports of goods produced with forced labour. India denied the allegations and said the issue should be addressed through ongoing bilateral trade negotiations. The currency was also pressured by broader global risk factors, including geopolitical tensions, a firmer dollar, higher crude oil prices and weakness in domestic equity markets.
    June 3, 2026
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    Forced labour import prohibitions drive proposed additional duties and a differentiated tariff framework for affected economies.
    The US Trade Representative has proposed additional duties on 54 countries, including India, over alleged failures to prohibit imports made with forced labour. The proposal follows investigations into 60 countries and applies a differentiated tariff framework: 10 per cent additional duty for economies with existing or committed forced-labour import prohibitions, and 12.5 per cent for all other economies. A textile mechanism would permit a specified volume of apparel and textile imports from certain economies at a reduced tariff rate.
    June 2, 2026
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    Trade pact implementation faces delays as India and the UK address steel safeguards and carbon border measures.
    India and the UK discussed implementation issues delaying rollout of CETA, with particular concern over Britain's steel safeguard restrictions and proposed carbon border adjustment mechanism (CBAM). The talks focused on identifying the remaining sticking points and examining pathways for effective implementation of the trade pact. Britain's limits on tariff-free steel imports and the introduction of CBAM from 2027 are central to the market access concerns.
    June 2, 2026
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    International developments span parliamentary disruptions, anti-corruption action, UN recognition, and immigration enforcement across several countries.
    Parliamentary proceedings in Nepal were adjourned after protests over border remarks, while other reported developments covered defence trade, anti-corruption action, UN appointments, peacekeeping recognition, online testimony in a disappearance case, condemnation of Hinduphobia and temple attacks, and immigration enforcement against Indian nationals working illegally as truck drivers.
    June 2, 2026
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    Rupee depreciation against the dollar reflects oil price pressure, dollar strength and foreign fund outflows amid RBI policy watch.
    The rupee depreciated against the US dollar amid higher global crude oil prices, a firm dollar, safe-haven inflows and foreign fund outflows. Market participants expected continued pressure from geopolitical tensions and elevated oil prices, while noting that peace talks could moderate the decline. Investors also watched the Reserve Bank of India monetary policy meeting for cues on currency movement, alongside broader market and macroeconomic developments.
    June 2, 2026
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    State GST collections in Haryana lead the country, driven by strong revenue growth and efficient tax administration.
    Haryana reported the highest growth rate among states in state GST collections for May 2026, with a year-on-year increase of 22 per cent against the national average of 6 per cent. The state also ranked first in cumulative growth in state GST revenue for the first two months of 2026-27, with growth of 40 per cent over the comparable period of the previous financial year. The statement attributed the sustained increase to the growing economy of the state and efficient tax administration.
    June 2, 2026
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    Re-evaluation portal security and online filing rules shape CBSE's answer-book verification process for students seeking review
    CBSE reported cyberattacks on its re-evaluation portal and said the online facility for verification of issues in scanned answer books and re-evaluation of answers was available only to students who had obtained scanned copies of evaluated answer books. The portal required Aadhaar-based verification, permitted online-only submission and payment, allowed only one application each for verification and re-evaluation, and treated details as locked after the payment stage was initiated. The process covered specified scanning and evaluation issues, used a limited filing period, and communicated the request outcome after completion.
    June 2, 2026
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    Artificial intelligence and data science training expands through a new industry-linked lab, certifications and practical learning programmes.
    Chandigarh University established an 'IndiaAI Data Lab' in collaboration with Intel India to strengthen student employability through industry-relevant training in artificial intelligence, data science and emerging technologies. The lab is intended to function as a simulated apprenticeship and practical learning space for computing and computer science engineering students, with access to AI tools, real-world projects and hands-on exposure aligned with global industry standards. As part of the same partnership, the university launched MCA (Data Science) and BCA (Data Science) programmes in association with Intel India, with semester-wise Intel certifications to improve industry readiness.
    June 2, 2026
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    Trade agreement negotiations focus on tariff recalibration, market access commitments, and possible Section 301 trade action.
    India and the United States began talks to finalise an interim trade agreement and advance a broader bilateral trade agreement. The framework contemplates tariff reductions on US industrial and agricultural goods, proposed Indian purchases of US products over five years, and possible recalibration in light of changed US tariff conditions and the prospect of fresh action under the Section 301 mechanism.
    June 2, 2026
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    Wholesale Price Index revision expands coverage, updates methodology and introduces producer price indices for broader price measurement.
    Revision of the Wholesale Price Index base year from 2011-12 to 2022-23 has been approved, together with compilation and release of new Producer Price Indices. The revised WPI series, along with Output PPI, Trial Input PPI and Service PPI, is scheduled for release on 15 June 2026 and will replace the existing WPI series. The framework is intended to support transition from WPI to PPI, while allowing a five-year continuation of WPI for price escalation use before discontinuation.
    June 2, 2026
    Show AI Summary
    Money laundering investigation over alleged homebuyer fraud leads to arrests of real estate promoters and directors.
    Money laundering investigation under the Prevention of Money Laundering Act concerns an alleged homebuyer fraud involving a real estate group that reportedly collected about Rs 2,004 crore from more than 19,425 buyers and investors on promises of timely delivery of residential and commercial units and assured returns. Four promoters and directors were arrested in connection with the probe and produced before the special PMLA court, which granted custodial interrogation. The investigation was initiated on the basis of five FIRs and a criminal complaint filed by the Serious Fraud Investigation Office.
    June 2, 2026
    Show AI Summary
    Rupee depreciation against the US dollar weighs on sentiment as crude prices, dollar strength and fund outflows pressure the market.
    The rupee depreciated against the US dollar in interbank foreign exchange trading, closing lower amid rising crude oil prices, a firm dollar and foreign fund outflows. Market participants also watched the forthcoming Reserve Bank of India monetary policy meeting, while the USD/INR spot rate was expected to trade in a narrow near-term range.
    June 2, 2026
    Show AI Summary
    Verification of answer books and re-evaluation portal opens for board exam students through a fully online process.
    CBSE opened an online portal for students with scanned copies of evaluated answer books to seek verification of issues in those copies and re-evaluation of answers. The process is available only online, requires Aadhaar-based login, permits only one application each for verification and re-evaluation, and must be completed within the stated timeline. The verification facility covers missing pages, blurred pages, missing supplementary sheets, incorrect answer books and similar issues, while re-evaluation may be sought for one or more questions across subjects.
    June 2, 2026
    Show AI Summary
    Premium group travel expansion drives curated tours, repeat customers, and Series A discussions for growth.
    JOY-N-CREW Vacations LLP is a Pune-based premium group travel company founded in 2022 and expanded to seven Indian cities. It reports serving over 5,000 guests, a 78% repeat customer rate, and a travel model built around curated international tours, cultural immersion, central accommodations, doctor-on-call support, and unhurried itineraries. The company has also entered premium educational travel and says it is in advanced discussions for Series A funding to support expansion, technology development, and a broader tour portfolio.
    June 2, 2026
    Show AI Summary
    Foreign exchange violation investigation under FEMA leads to searches at Vedanta Group premises amid regulatory scrutiny.
    Enforcement Directorate initiated a foreign exchange violation investigation under the civil provisions of the Foreign Exchange Management Act against Vedanta Group and conducted searches at its premises in Delhi, Rajasthan and other locations. The company said it was extending full cooperation, providing information sought, and remaining committed to compliance with applicable laws and regulations.
    June 2, 2026
    Show AI Summary
    Unified transaction banking is reshaping corporate finance through API-driven platforms, cloud scale, and stronger compliance controls.
    Transaction banking in India is shifting toward unified, API-driven platforms that address fragmented banking systems, manual processes, and reconciliation challenges in corporate banking. The commentary links this evolution to digital infrastructure growth and highlights the role of cloud systems, AI tools, and strong compliance guardrails, including regulatory compliance, data protection standards, and certifications such as ISO and SOC2, in enabling scalable and reliable financial technology operations.

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      Customs & Trade

      Anondita Medicare Limited Secures First Export Order Worth INR 43.14 Crore Under South African Government Condom Tender Program

      June 1, 2026

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      Mumbai, June 01, 2026: Anondita Medicare Limited (NSE - SME: ANONDITA) a leading manufacturer of condoms and sexual wellness products operating under its flagship brand “COBRA”, has secured its first export purchase order worth approximately ₹43.14 Crore under the South African Government condom procurement program. Order Details Anondita Medicare has received its first export purchase order worth approximately ₹43.14 Crore from Supra Healthcare Johannesburg (Pty) Ltd., South Africa, for the supply and delivery of male condoms under the South African Government condom procurement program. The order comprises supplies equivalent to 50 containers (40-feet containers) and is expected to be executed by September 30, 2026. This milestone marks the commencement of the Company's supplies under the approved South African tender framework and further strengthens its export business. Management Commentary Commenting on the development, Mr. Anupam Ghosh, Managing Director, Anondita Medicare Limited, said: “Securing our first export purchase order worth approximately ₹43.14 Crore under the South African Government tender program marks a significant milestone for Anondita Medicare. The order for the supply of male condoms equivalent to 50 containers validates our manufacturing excellence and global quality standards. We believe this achievement will further strengthen our export business and enhance our presence in international institutional markets.” About Anondita Medicare Limited Anondita Medicare Limited is an Indian manufacturer of condoms and sexual wellness products, operating its flagship brand “COBRA.” The company operates its own manufacturing facility and follows a quality-driven and compliant production model. Led by Mr. Anupam Ghosh, who brings over 25 years of experience in the healthcare and contraceptive products industry, the company benefits from strong industry expertise, entrepreneurial vision, and execution capabilities. With a strong domestic presence, particularly in North India, Anondita Medicare is actively expanding across India and international markets. The company’s focus on automation-led capacity enhancement and innovative patented female condom products positions it for scalable growth and long-term value creation. Disclaimer Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. For more information, please visit: Anondita Medicare Limited www.anonditamedicare.comwww.cobrastore.in (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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