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    First gold jewellery shipment from Kolkata to Oman sent under India-Oman CEPA
    CPI(M) MP John Brittas urges FM to reconsider IDBI Bank privatisation
    ED to move SC against Delhi HC order quashing PMLA case against NewsClick
    India and Nepal Launch Cross-Border Remittance Mechanism to Strengthen Bilateral Financial Connectivity
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    Nepal has not banned Indian mangoes, says govt; 149 consignments exported since Jan
    India rejects allegations of overcapacity in textiles, steel sectors: DGTR
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June 11, 2026
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Duty-free gold jewellery exports under India-Oman CEPA expand market access and boost exporter competitiveness.
Direct duty-free exports of gold jewellery from eastern India to Oman have commenced under the India-Oman Comprehensive Economic Partnership Agreement (CEPA), with the first consignment from Kolkata dispatched by air cargo. The agreement gives Indian gold jewellery and diamonds duty-free access in the Omani market and is described as improving exporter competitiveness by reducing routing costs and enabling faster deliveries. The CEPA also extends duty-free market access to a broader range of Indian goods and covers services and investment.
June 11, 2026
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Public banking sovereignty concerns arise over the proposed privatisation of IDBI Bank and its wider social impact.
Concern is expressed over the proposed strategic disinvestment and transfer of management control of IDBI Bank to the private sector, on the footing that the move implicates financial sovereignty, depositor confidence, social justice and the public character of banking. The note refers to the bank's origin as a development financial institution, its role in India's financial architecture, and the assurance that government ownership would not fall below 51 per cent, together with parliamentary caution against dilution of that level of control. Concern is also raised over the possible transfer of valuable land and other assets, the impact on employees, and the wider trend of foreign participation in Indian banking.
June 11, 2026
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Money laundering quashing dispute turns on false representation allegations, foreign investment concerns, and the prima facie test at quashing stage.
The Enforcement Directorate proposed to challenge a Delhi High Court order quashing money laundering proceedings against NewsClick and its editor-in-chief after the predicate FIR was set aside. The agency said the order overlooked allegations of false representations to authorities and banks regarding the investor, source and nature of funds, commercial character of the investment, and share valuation in the context of alleged foreign direct investment without required permission. The ED also said the quashing stage required only a prima facie view on whether the allegations disclosed an offence.
June 11, 2026
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Cross-border digital payments expand with a direct UPI-NPI remittance link enabling real-time transfers and financial inclusion.
Cross-border peer-to-peer remittance has been launched between India and Nepal through a direct linkage of India's Unified Payments Interface and Nepal's National Payments Interface, enabling seamless, real-time and secure instant money transfers through mobile banking applications and digital wallets. The arrangement is presented as a digital payment corridor intended to strengthen financial connectivity, improve convenience for travellers and businesses, and promote accessible, safe and affordable cross-border payments.
June 11, 2026
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Rupee weakness amid West Asia tensions, dollar strength and foreign outflows pressures the domestic currency in interbank trade.
The rupee weakened against the US dollar in interbank trade amid heightened West Asia tensions, a stronger dollar index, heavy foreign institutional investor outflows and weak domestic equity sentiment. Market participants said the local unit came under pressure from external geopolitical developments and broader risk aversion, while earlier gains were linked to likely Reserve Bank of India intervention to curb excessive volatility in the domestic currency.
June 11, 2026
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Maritime trade security and supply chain resilience gain focus as India stresses diversification, energy security, and wider cooperation.
Maritime trade security and supply chain resilience were highlighted as essential responses to global economic risks, with emphasis that maritime trade should remain neither impeded nor endangered amid tensions in the Gulf. India's concern with energy, food and fertiliser security and the need for further diversification of supply chains were also underlined.
June 11, 2026
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Make in India-led manufacturing expansion: Haleon plans a greenfield Madhya Pradesh facility to strengthen supply chains and oral health access.
Haleon announced plans to establish its first manufacturing facility in India as a greenfield site at Pithampur, Madhya Pradesh, with the project aligned to the Make in India vision and intended to strengthen the company's long-term presence in the country. The facility is described as a strategic manufacturing base for oral health and other everyday health products, designed to support supply chain resilience, domestic value addition, exports to wider Asia, employment generation, and future-ready automated production, with operational commencement expected by 2029-30.
June 11, 2026
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Free trade agreements and cooperative federalism drive India's growth strategy, with MSME competitiveness and women-led development in focus.
India's growth strategy is being advanced through free trade agreements, international market access, and a stronger export ecosystem, with emphasis on enabling MSMEs to align with global standards and improve competitiveness. The economic direction also relies on the demographic dividend through quality education, demand-driven skilling, and employment pathways for youth. Cooperative federalism, State collaboration, and women-led development are described as central to Viksit Bharat, with focus on education, skilling, safety, and empowerment of women.
June 11, 2026
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Excise duty exemption on higher ethanol-petrol blends expands, paving the way for future ethanol fuel adoption.
Excise duty exemption has been extended to higher ethanol-petrol blends, with duty reduced to nil on petrol containing 22 per cent, 25 per cent, 27 per cent and 30 per cent ethanol. The extension broadens the earlier waiver for blends of up to 20 per cent ethanol and reflects the view that blending ethanol with petrol at fuel depots is a manufacturing activity that would otherwise attract excise duty. The measure is a preparatory regulatory step for any future introduction of higher ethanol-content fuels.
June 11, 2026
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Control and assurance functions harmonisation through draft RBI governance amendments invites stakeholder comments across regulated entities.
Reserve Bank of India has issued draft Amendment Directions for public comments to harmonise and consolidate instructions on control and assurance functions across multiple categories of regulated entities, including banks, co-operative banks, non-banking financial companies, credit information companies and asset reconstruction companies. The draft directions comprise governance-related and miscellaneous amendments intended to align the applicable regulatory framework across these entities. Comments and feedback may be submitted through the Connect 2 Regulate portal or by email using the prescribed subject-line format for the relevant category of regulated entity.
June 11, 2026
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Standardised approach for counterparty credit risk updates seek clearer netting, margining, and disclosure treatment under revised directions.
The Reserve Bank has proposed draft Amendment Directions on Standardised Approach for Counterparty Credit Risk (SA-CCR) to update the framework for computing counterparty credit risk exposure. The draft revisits the earlier SA-CCR-based guidelines in light of later netting, margining, and Basel Committee developments, and seeks to clarify the treatment of CCR across banking and trading book exposures, multiple margin agreements, multiple netting sets, clearing-member transactions, option premium deferment, effective notional for options, and disclosure templates. Comments have been invited from regulated entities and other stakeholders within the consultation period.
June 11, 2026
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Money laundering probe under the Prevention of Money Laundering Act covers alleged payments without services and unexplained loan transactions.
Enforcement Directorate investigation under the Prevention of Money Laundering Act concerns alleged transactions involving Cochin Minerals and Rutile Ltd and Exalogic Solutions Private Limited, including payments without corresponding services and loans without timely repayment. The agency has alleged that these transactions generated proceeds of crime and proceeded on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office. Veena T sought postponement of her scheduled ED questioning on health grounds and said documents would be submitted through counsel.
June 11, 2026
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Rupee weakness deepens as crude prices, foreign outflows and a firmer dollar pressure the local currency.
The rupee weakened in early trade against the US dollar amid higher global crude oil prices, continued hostilities between the US and Iran, heavy foreign institutional investor outflows, and a soft domestic equity market. The local currency was also weighed down by a marginally stronger dollar index and remained sensitive to risk sentiment and external macroeconomic cues. RBI-linked dollar selling had earlier supported the rupee, while intervention was likely aimed at curbing excessive volatility and preventing a sharper slide.
June 11, 2026
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Excise duty waiver on ethanol-blended petrol encourages a shift toward cleaner fuel variants across blended petrol categories.
Excise duty on ethanol-blended petrol has been waived for E22, E25, E27 and E30 variants, with the applicable duty set at nil for petrol containing 22 per cent, 25 per cent, 27 per cent and 30 per cent ethanol blend. The measure is intended to encourage consumers to shift towards ethanol-blended petrol and applies through a finance ministry notification.
June 11, 2026
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Trade and regulatory cooperation deepen as India and Tajikistan prioritise pharmaceuticals, agriculture, services and wider economic engagement.
India and Tajikistan reviewed bilateral trade, investment and regulatory cooperation, and agreed to strengthen coordination between competent authorities, trade bodies and business chambers to facilitate smoother trade and new business projects. Pharmaceuticals, agriculture, services and wider sectoral cooperation were identified as priority areas, including faster registration processes, closer regulatory dialogue and stronger business-to-business linkages. The meeting concluded with signing of the Protocol of the 12th Session and a reaffirmation of commitment to deepen industrial, trade and economic cooperation.
June 10, 2026
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Foreign direct investment allegations fail as quashing follows absence of criminal offence and unsupported money-laundering claims.
Quashing of FIR and money-laundering proceedings was ordered where the underlying investment was treated as an economic decision that did not disclose any criminal offence. The court held that there was no cap or restriction on receipt of foreign direct investment in digital media at the relevant time, and that the allegations of cheating, criminal breach of trust and siphoning of funds were unsupported. The Enforcement Directorate's case also failed because the alleged conspiracy did not show any illegal objective or unlawful means, and no incriminating material had emerged despite extensive investigation.
June 10, 2026
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Phytosanitary import rules shape Indian mango exports to Nepal as officials clarify no ban and continue permit issuance.
Imports of Indian mangoes into Nepal continue to be permitted subject to prescribed phytosanitary requirements, with import permits and release orders being issued on compliance. Nepal has clarified that no ban or suspension has been imposed, while introducing a Hot Water Treatment requirement for consignments. India has said it is facilitating exports in line with the new norms and is pursuing concerns over the revised measures through bilateral channels under the WTO Sanitary and Phytosanitary Agreement and the International Plant Protection Convention framework.
June 10, 2026
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Structural excess capacity allegations rejected as India cites low per capita consumption in textiles and steel.
India has rejected allegations of structural excess capacity in textiles and steel, saying low per capita consumption in both sectors shows no basis for the claim. In response to a United States Trade Representative probe under Section 301, India stated that the notice lacks cogent rationale and prima facie evidence to support the allegation that its major industries create trade surplus through surplus capacity. The trade remedies authority also said excess capacity is not recognised within WTO trade remedial laws.
June 10, 2026
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Indian mango exports face reputational strain as Nepal's import ban raises pesticide and quarantine concerns.
Nepal prohibited the import of Indian mangoes, citing excessive pesticide use and the absence of adequate quarantine facilities in border areas. Growers in Uttar Pradesh said the restriction could damage the international image and credibility of Indian mangoes, including the Dasheri variety, and add to pressure from rising input costs and low returns. The state minister said the ban would not materially affect farmers' earnings, but it has hurt the reputation attached to Indian mangoes.
June 10, 2026
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Rupee volatility management strengthened as lower crude prices and likely RBI intervention supported the domestic currency.
The rupee appreciated against the US dollar as lower Brent crude prices, a softer dollar index and likely intervention by the Reserve Bank of India helped curb excessive volatility and support the domestic currency. Market commentary linked the currency's pressure to geopolitical tensions, energy import dependence and a wider trade deficit when crude prices rise. The report also noted easing government bond yields and foreign inflows into government securities under the Fully Accessible Route.

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Chandigarh University Becomes India's First Private University to Establish 'IndiaAI Data Lab' in Collaboration with Intel India

June 2, 2026

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Chandigarh University Launches MCA Data Science & BCA Data Science Programs in Collaboration with Intel India CHANDIGARH, India, June 2, 2026 /PRNewswire/ -- Chandigarh University inaugurated 'IndiaAI Data Lab' in collaboration with Intel India to improve the employability of students by equipping them with industry-relevant skills in Artificial Intelligence (AI), Data Science and emerging technologies. As a dedicated space for students to learn foundational technical and career growth skills and build AI solutions, IndiaAI Data lab will provide students of computing and computer science engineering a simulated apprenticeship platform for getting practical skills, hands-on experience and opportunity to work on real-world projects. The inauguration ceremony of 'IndiaAI Data Lab' at CU's University Institute of Computing (UIC) was graced by Prof (Dr) Raviraja N Seetharam, Vice-Chancellor, Chandigarh University; Prof (Dr) Raghuveer VR; Prof (Dr) Sachin Ahuja, Executive Director (Engineering), Chandigarh University; Prof (Dr) Manisha Malhotra, Director Computing, Chandigarh University and representatives from Intel India. The 'IndiaAI Data Lab' will serve as a hub for advanced learning, research, innovation, faculty development, student projects, hackathons, and industry-academia collaboration to provide students with access to cutting-edge AI technologies and practical learning experiences aligned with global industry standards. This Lab will enhance Chandigarh University's technological capabilities to support students with employability skills in Artificial Intelligence, foster innovation, and align with our goal of staying at the forefront of advancements in AI. In her message on the occasion, Shweta Khurana, Senior Director, Asia Pacific and Japan, Government Partnerships & Initiatives, Global Government Affairs, Intel, said, "The launch of the IndiaAI Data Lab at Chandigarh University is an important step towards building AI-ready talent. By providing students with hands-on experience and access to AI PCs, this initiative will enable them to learn, create, and innovate using the latest AI technologies, while helping bridge the gap between academia and industry needs. At Intel, we are committed to empowering students with the skills, tools, and opportunities they need to thrive and lead in an AI-driven world." In his welcome address, Prof (Dr) Raviraja N Seetharam, Vice-Chancellor, Chandigarh University said, "We will like to thank Shweta Khurana, Senior Director, Asia Pacific and Japan, Government Partnerships & Initiatives, Global Government Affairs, Intel for her visionary guidance in Intel India's collaboration with Chandigarh University for the establishment of IndiaAI Data Lab at CU Campus. The inauguration of 'IndiaAI Data Lab' at Chandigarh University in collaboration with Intel India is a special occasion because we want to enable students to something extraordinary, something more than routine. Nobody wants boring classroom teaching because it's the activity-based learning, project-based learning, group discussions which make learning interesting. This IndiaAI Data Lab has been established at a private university for the first time not in just Punjab or India. This is truly a matter of pride for us to have such a cutting-edge state of the art lab. This achievement is the culmination of nearly three years of continuous collaboration, planning, and liaisoning efforts between Chandigarh University and Intel India. The partnership has been focused on building future-ready talent equipped with industry-relevant skills in Artificial Intelligence, Machine Learning, Data Analytics, and emerging technologies." "The establishment of IndiaAI Data Lab at Chandigarh University is a significant milestone towards strengthening Artificial Intelligence and Data Science education, research, and innovation at Chandigarh University. CU's partnership with Intel is focused on building future-ready talent equipped with industry-relevant skills in Artificial Intelligence, Machine Learning, Data Analytics, and emerging technologies. IndiaAI Data Lab will serve as a hub for advanced learning, research, innovation, faculty development, student projects, hackathons, and industry-academia collaboration. This Lab will provide CU students with access to cutting-edge AI technologies and practical learning experiences aligned with global industry standards. IndiaAI Data Lab will serve as a hub for advanced learning, research, innovation, faculty development, student projects, hackathons, and industry-academia collaboration. This Lab will provide students with access to cutting-edge AI technologies and practical learning experiences aligned with global industry standards." Prof (Dr) Seetharam said further strengthening the academic partnership, UIC has launched MCA (Data Science) and BCA (Data Science) programs in association with Intel India. "A unique feature of these programs is that students will have the opportunity to earn Intel Certifications every semester, enhancing their industry readiness and employability in the rapidly evolving digital economy. The collaboration has already yielded remarkable achievements. During the Intel AI Summit held last year, students from the institution demonstrated exceptional innovation and technical expertise. A team of BCA students secured Second Position at the National Level, bringing recognition to the institution and showcasing the effectiveness of industry-integrated learning," he added. Prof (Dr) Seetharam said as part of this collaboration with Intel India, Chandigarh University conducted Summer School Program – 'AI for Future Workforce', which witnessed participation of more than 2,000 students from MCA, BCA, and Computer Science Engineering (CSE) programs who received training, gaining hands-on exposure to AI tools, technologies, and real-world applications during the Summer School Program. Chandigarh University Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC. Website address: https://www.cuchd.in/ Photo: https://mma.prnewswire.com/media/2993158/CU_Intel_Lab.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR

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