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    CMRL files appeal in Kerala HC against order paving the way for ED probe
    Govt notifies two special economic zones in Puducherry
    Resilient Indian economy may face West Asia headwinds; El Nino impact likely on agri output: RBI
    Government Notifies Two New SEZs in Puducherry Following Approval by Board of Approval
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    Citi to Host Flagship India Conference in Mumbai
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    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.
    May 29, 2026
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    Special economic zones notified in Puducherry for IT/ITES and multi-sector development under the SEZ framework.
    The government has notified two special economic zones in Puducherry for development under the SEZ framework. One is an IT/ITES SEZ proposed by Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk, and the other is a multi-sector SEZ proposed by the Pondicherry Industrial Promotion Development and Investment Corporation at Karasur village in Villianur Taluk. The proposals had already received approval from the Board of Approval for SEZs under the Department of Commerce.
    May 29, 2026
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    Macroeconomic resilience and inflation risks shape RBI's outlook amid West Asia tensions, monsoon dependence and El Nino concerns.
    India's growth outlook remains supported by strong macroeconomic fundamentals, private consumption, investment and public capital expenditure, even though the economy may face near-term headwinds from the West Asia conflict, elevated energy prices, supply chain disruptions, financial market volatility, uncertainty in global trade policies and weather-related disruptions. The agriculture sector remains dependent on the south-west monsoon, and El Nino conditions create downside risks to output. Inflation is expected to remain broadly aligned with target, though upside risks may arise from global fuel and commodity prices, input and wage costs, and exchange-rate volatility.
    May 29, 2026
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    Special Economic Zones in Puducherry expand industrial growth, investment, exports and employment through IT/ITES and multi-sector projects.
    Two new Special Economic Zones were notified in Puducherry after approval by the Board of Approval for SEZs under the Department of Commerce. One is an IT/ITES SEZ to be developed by M/s Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk, described as the first SEZ in India to be developed by an urban local body. The other is a multi-sector SEZ to be developed by M/s Pondicherry Industrial Promotion Development and Investment Corporation at Karasur village in Villianur Taluk.
    May 29, 2026
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    Unclaimed financial assets portal launched to simplify access to bank deposits, insurance claims, shares and mutual funds.
    A Common Landing Portal for Unclaimed Financial Assets has been launched as a single unified online platform to facilitate citizen search and tracing of unclaimed bank deposits, insurance claims, shares, dividends and mutual funds across the financial ecosystem. The portal provides consolidated access to multiple search facilities relating to unclaimed financial assets and is intended to improve convenience, awareness and access to information.
    May 29, 2026
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    Digital fixed deposits combine competitive returns, paperless onboarding and Video KYC for resident investors seeking secure banking convenience.
    Competitive fixed deposit products are being marketed to depositors seeking stable returns, low-risk exposure, capital protection and digital convenience, with emphasis on RBI-regulated banking frameworks, paperless onboarding and online maturity management. The Equitas Digital Full KYC Digital Fixed Deposit is presented as a fully digital deposit option available through mobile-app onboarding and Video KYC, with deposit insurance coverage under the Deposit Insurance and Credit Guarantee Corporation framework.
    May 29, 2026
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    Rupee depreciation and operating disruptions weigh on IndiGo's performance, while capacity and income still rise.
    Rupee depreciation, challenging operating conditions, flight disruptions and changes in labour laws materially affected IndiGo's financial performance for the March quarter and the 2025-26 fiscal. The airline reported a net loss for the quarter and for the full year, while stating that its revenue and capacity still increased during the period. Excluding foreign exchange and exceptional items, it said it would have reported a profit, and it noted further expected capacity growth in the June quarter.
    May 29, 2026
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    Rupee internationalisation gains ground as import-export invoicing rises and fraud reporting remains a major banking concern.
    Rupee invoicing for imports and exports has increased over the years, reflecting a continuing process of INR internationalisation in trade transactions. The Reserve Bank's data indicates that wider use of the domestic currency in cross-border invoicing is being treated as mutually beneficial to trading partners. Banks and financial institutions have also reported a large number of fraud cases, underscoring continuing compliance and risk-management concerns within the financial sector.
    May 29, 2026
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    Foreign exchange reserves decline as RBI reports broad-based weekly fall across currency assets, gold, SDRs and IMF reserves.
    India's foreign exchange reserves declined during the reporting week, with the overall forex kitty falling as the Reserve Bank of India reported reductions in foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the IMF. The decrease in reserves was spread across the principal reserve components rather than confined to a single item, indicating a broad-based weekly contraction in external reserve assets.
    May 29, 2026
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    Corporate and financial forum spotlights India's macro outlook, capital markets, AI and investment trends.
    Citi will host its flagship India Conference 2026 in Mumbai as a two-day corporate and financial forum bringing together clients, senior executives, investors and other market participants for engagement, networking and knowledge-sharing. The conference agenda will cover the macroeconomic outlook, policy environment, capital markets, emerging investment trends, artificial intelligence, digital infrastructure and innovation.
    May 29, 2026
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    India-U.S. trade and investment ties strengthened through business talks on technology, healthcare, finance and supply chain resilience.
    Strengthening India-U.S. trade and investment relations through high-level business engagements focused on expanding cooperation with global industry leaders in financial services, healthcare, digital payments, manufacturing, innovation, artificial intelligence, and emerging technologies. The discussions highlighted opportunities for global businesses in India, supply chain resilience, India's attractiveness as an investment destination, economic reforms, ease of doing business, and deeper industry-to-industry collaboration.
    May 29, 2026
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    AI governance framework launch for secure adoption, operational oversight, and compliance alignment across enterprise AI systems.
    A cybersecurity and standards body has launched the Adopt. Defend. Govern. (ADG) AI Framework and a free AI Readiness Self-Assessment Tool to help organizations securely adopt, operationalize, and govern artificial intelligence at scale. The framework presents a unified governance structure with three pillars, 12 minimum controls, nine governance surfaces, implementation overlays, and accountability mechanisms for AI systems, agentic AI environments, multi-model architectures, and large language model ecosystems. It is designed to align with major global AI governance and security standards and reduce compliance fragmentation.
    May 29, 2026
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    Securities market fraud and disclosure violations: Supreme Court sets aside disgorgement while sustaining penalty for position-limit breach
    The Supreme Court partly allowed the appeal in SEBI proceedings concerning trading in Reliance Petroleum Ltd. shares and set aside the finding of fraud under the PFUTP Regulations as well as the disgorgement order. It nevertheless upheld the penalty linked to violation of disclosure requirements under the SEBI circular on position limits. The Court also directed refund of the amount deposited in the Investor Protection Fund under an earlier interim order.
    May 29, 2026
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    Rupee strength amid softer crude and dollar weakness as markets await the RBI Monetary Policy Committee meeting.
    The rupee strengthened against the US dollar on renewed optimism after the US and Iran extended the ceasefire and agreed to fresh talks. Softer crude oil prices and a weaker dollar supported the currency, while traders warned that renewed US-Iran tensions could pressure the rupee. Market focus turned to the upcoming RBI Monetary Policy Committee meeting, where the central bank may weigh currency stability alongside inflation management.
    May 29, 2026
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    Indian Rupee internationalisation gains momentum as trade invoicing and settlement rise across imports and exports.
    The Reserve Bank of India reports a sustained increase in the use of Indian Rupee (INR) for import and export invoicing and settlement, reflecting the broader internationalisation of the currency through its use in current and select capital account transactions. Greater use of INR as an invoicing and settlement currency is associated with reduced exchange rate risk, lower dependence on costly foreign exchange reserves in convertible currencies, lower transaction costs, and the development of bilateral exchange rate markets.
    May 29, 2026
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    Fraud reporting and cyber resilience take centre stage as advances dominate losses and the RBI expands drill-based preparedness.
    Banks and financial institutions reported a large volume of fraud cases in 2025-26, with the advances category accounting for the dominant share in value terms and replacing card, internet and digital payment fraud as the principal area of exposure. Public sector banks and private sector banks recorded fewer fraud cases year-on-year, but the amount involved in such frauds increased, while foreign banks, small finance banks and payments banks reported comparatively lower volumes. The Reserve Bank has operationalised a Cyber Range initiative through a platform at IDBRT to strengthen cyber resilience across supervised entities.
    May 29, 2026
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    Cooling-off period for retired judges rejected as unnecessary where capable adjudicators are needed in tribunals and other bodies.
    Post-retirement appointments of judges to tribunals and other government bodies remain a contested policy issue, with the Law Minister stating that there is no justification for a mandatory cooling-off period for retired judges who are mentally sound, capable and judged to have served well. The remarks emphasise the need for experienced adjudicators in vacancy-ridden institutions such as the NCLT and NCLAT, and extend to other assignments including the NHRC, Lokpal, Law Commission, Press Council of India, and various committees and commissions.
    May 29, 2026
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    Reserve Bank balance sheet expansion reflects higher investments, rising gold holdings, and a larger annual surplus.
    The Reserve Bank's annual report for 2025-26 records a substantial expansion in its balance sheet, driven by higher domestic investments, gold holdings and foreign investments. The year closed with a higher surplus, alongside a transfer to the Contingency Fund and no provision to the Asset Development Fund. The report also notes a marginal increase in total gold holdings and a significant rise in the value of gold held as an asset of the Banking Department due to higher gold prices and depreciation of the rupee against the US dollar.
    May 29, 2026
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    Macroeconomic fundamentals support India's growth outlook despite external headwinds, while inflation and agriculture face weather-linked risks.
    India's growth outlook remains supported by robust macroeconomic fundamentals, government capital expenditure, strong corporate and banking balance sheets, domestic consumption and investment, despite external headwinds and geopolitical tensions. Agricultural output and inflation remain linked to monsoon progress, El Nino risks, reservoir levels, foodgrain stocks and fertiliser availability, while the inflation target is retained at 4 per cent with a tolerance band of plus or minus 2 per cent.
    May 29, 2026
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    Consumer television financing through EMI plans combines model comparison, partner-store purchase options and variable terms for budget buyers.
    Consumer television purchases are linked to financing through partner stores, with buyers comparing display technology, resolution, smart features and support before selecting a model. The process includes browsing on Bajaj Mall, verifying pre-approved eligibility, choosing an EMI plan with optional zero down payment on select models, and completing purchase through a loan with repayment tenures from 3 to 60 months, subject to changing price, store and offer conditions.

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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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