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    RBI invites comments on the draft “Reserve Bank of India (Interest Rate on Deposits) Amendment Directions, 2026
    GIFT City explained: Why it is becoming a global financial destination
    PIL in SC alleges Rs 1,500 cr banking fraud, seeks court-monitored probe
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    AU Small Finance Bank Brings a Range of Savings Accounts Built for Every Indian Customer
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    Trex Energy Launches REX BESS 125kW/261kWh with Liquid-Cooling (C&I) to Support Smart Industrial Energy Infrastructure
    Spark Capital PWM Wins Three Global Private Banking Innovation Awards 2026; Arpita Vinay Named Asia’s Outstanding Wealth Management CEO
    Bengal: Dark spots on Himsagar mangoes cast shadow on export shipment
    LPG Price Hike: Govt says rates in India among world's lowest despite 46 pc jump in global benchmark
    MP seeks stronger trade, investment ties with Latin American, Caribbean nations, says CM
    Minister Lokesh pitches Andhra as India’s gateway to Arctic logistics network
    Tezpur Litchi Festival opens new export potential for Assam's GI-tagged fruit
    India Showcases Carbon Credit Trading Scheme and Renewable Energy Standards at WTO Trade and Environment Week 2026
    Bharat Maritime Insurance Pool Workshop Held in Mumbai
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    News
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    June 8, 2026
    Show AI Summary
    Rupee bulk deposit pricing and interest rate disclosure rules are proposed for banks under draft RBI amendment directions.
    Greater flexibility for banks in pricing Rupee bulk deposits and uniformity in disclosure of interest rates on deposits are proposed through draft amendment directions issued for commercial banks, small finance banks, regional rural banks, payment banks, local area banks and urban co-operative banks. Comments and feedback on the draft amendment directions may be submitted by regulated entities and members of the public or other stakeholders up to the specified deadline through the online regulatory consultation platform or by email using the prescribed subject line for the relevant draft direction.
    June 8, 2026
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    GIFT City financial framework attracts NRIs with tax exemptions, foreign currency transactions, and simplified compliance.
    GIFT City is described as India's first International Financial Services Centre, operating within a special regulatory framework that permits foreign currency financial activity and functions like an offshore financial hub. The article states that NRIs and other participants are attracted by tax exemptions, simplified compliance, a dedicated regulatory structure, and direct foreign currency transactions without mandatory conversion to rupees.
    June 8, 2026
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    Banking fraud investigation plea seeks court-monitored probe into alleged diversion of funds and suspicious transactions.
    A public interest litigation filed in the Supreme Court alleges banking fraud involving asset reconstruction companies, public sector banks and a Noida-based infrastructure firm, and seeks a court-monitored investigation into the transactions identified in a forensic audit report. The plea asks for a judicial commission or expert committee comprising officers of the RBI, SEBI, SFIO, ED and CBI to examine the alleged corporate and banking fraud facilitated by the asset reconstruction companies. As an alternative, it seeks directions to the ED, SFIO and CBI to investigate suspicious transactions mentioned in an Ernst & Young forensic audit report.
    June 8, 2026
    Show AI Summary
    GST portal functionality expands digital compliance tools for registration, refunds, returns, e-way bills, and taxpayer validation.
    GST portal functionality is expanded across registration, refunds, payments, returns, e-way bill management, audit, appeal, assessment, enforcement and related compliance modules. The listed updates cover bank account validation, Aadhaar authentication and e-KYC, geocoding of business premises, addition and alteration of registration data, suspension and revocation workflows, temporary user ID facilities for unregistered persons, and automated status tracking for registration and refund applications. The portal also provides return-filing and statement features such as e-invoice import, GSTR-1 and GSTR-3B enhancements, GSTR-2B validation, GSTR-4 and GSTR-9 related changes, HSN validation, sequential filing controls, late fee and interest computation adjustments, and QRMP scheme support.
    June 8, 2026
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    Personal loan eligibility planning helps borrowers estimate repayment capacity, choose suitable tenure, and avoid over-borrowing before applying.
    Personal loan applicants are encouraged to assess borrowing capacity before applying by using an online eligibility calculator that estimates the loan amount a borrower may qualify for on the basis of monthly income, monthly expenses, city of residence, and date of birth. The calculator helps prospective borrowers choose a loan amount and repayment tenure aligned with their repayment capacity and budget. The product described is a collateral-free personal loan with variable interest rate and repayment tenure extending up to 108 months, with disbursal subject to lender assessment and document verification.
    June 8, 2026
    Show AI Summary
    Savings account products with video KYC, app-based banking and segment-specific features shape AU Small Finance Bank's customer offering.
    AU Small Finance Bank announced a range of savings accounts for different customer segments, with online account opening through video KYC, access through the AU 0101 mobile banking app, debit card options and interest rates shown through official channels. The accounts are described as paperless and available without branch visit for eligible customers, with app-based features for UPI, fund transfers, bill payments, debit card management, statements, auto-debits and rewards. Certain premium and family-linked features are subject to eligibility, minimum balance requirements and the bank's policies.
    June 8, 2026
    Show AI Summary
    GST TDS compliance covers registration, GSTR-7 filing, certificate issuance, and cash-ledger credit for accepted deductions.
    Tax deduction at source under GST applies to specified government bodies and notified persons, with 2% for inter-State transactions and 1% each for intra-State transactions. Registration is required irrespective of turnover, and the portal process involves application submission, OTP verification, and final filing through digital signature, e-signature, or electronic verification code. GSTR-7 is filed for reporting deducted tax and payment, while Form GSTR-7A is issued as the TDS certificate after acceptance of the transaction. Accepted TDS is credited to the supplier's cash ledger, and excess or erroneous deduction is handled through the refund mechanism.
    June 8, 2026
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    Tax deductor registration under GST requires online filing, prescribed verification, and timely processing before GSTIN issuance.
    Departments, establishments, local authorities, government agencies and notified persons making contractual payments above the prescribed threshold must register as tax deductors at source under GST and deduct tax at the applicable rate before remitting it to the GST account. Registration is filed online in the prescribed form and requires valid PAN or TAN, mobile number, e-mail ID, prescribed documents, place of business and an authorised signatory. The application is processed by the tax officer before GSTIN issuance, with prescribed timelines, status tracking, TRN validity, signature options and documentary requirements.
    June 8, 2026
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    GST TDS compliance framework explains threshold, deduction rates, registration, return filing, and certificate issuance for deductors.
    TDS under GST applies to specified government and government-controlled deductors when payment or credit is made to suppliers of taxable goods or services under a contract exceeding Rs. 2,50,000, excluding GST and cess. The SOP explains the taxable threshold, intra-State and inter-State rates, exclusions for exempt or non-taxable supplies, the procedure for registration, challan payment, return filing in FORM GSTR-7, and issue of FORM GSTR-7A certificate. It also outlines late fee, interest, penalty, and refund consequences for non-compliance.
    June 8, 2026
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    Battery energy storage systems gain a scalable liquid-cooled design for industrial power, backup, and renewable integration.
    Trex Energy announced the commercial launch of a liquid-cooled Battery Energy Storage System for commercial, industrial, and utility applications, combining a lithium iron phosphate battery, integrated energy management, AC/DC architecture, and fire suppression in a single-cabinet design. The system is presented as a scalable storage solution for on-grid and off-grid use, with compatibility for renewable generation, EV charging, backup power, and grid-support functions.
    June 8, 2026
    Show AI Summary
    Wealth management innovation recognized through leadership, client service and family office excellence at global private banking awards.
    Spark Capital Private Wealth Management was recognised at the Global Private Banking Innovation Awards 2026 for leadership, client service and brand-building in private banking and wealth management. Arpita Vinay was named Outstanding Achievement by a Wealth Management CEO - Asia, reflecting the firm's client-centric, technology-driven and institutional advisory approach for ultra-high-net-worth and family office clients. The firm also received awards for Outstanding Wealth Management Service by a Multi-Family Office and Outstanding Marketing Campaign.
    June 7, 2026
    Show AI Summary
    Mango export quality concerns as weather-induced spotting threatens Himsagar shipments and import acceptance.
    Weather-induced mango disease has affected the export prospects of Bengal's Himsagar mangoes, as dark spots on bagged fruit may make produce unsuitable for overseas shipment and organised retail sales. The spots are attributed to continuous rain during bagging followed by high temperatures, and exporters say such blemishes can lead to rejection by importers because export fruit is expected to be free from spotting. Export promotion efforts continue through fruit bagging, good agricultural practices, scientific harvesting and post-harvest handling to meet international quality standards.
    June 7, 2026
    Show AI Summary
    Domestic LPG pricing linked to global benchmarks sees hike as government keeps household cooking gas below import cost.
    Domestic LPG prices were raised in response to higher international benchmark costs linked to West Asia disruptions, while the government continued to modulate consumer pricing for households. The revised retail price for a 14.2-kg cylinder in Delhi was stated at Rs 942, and Ujjwala beneficiaries were to pay an effective Rs 642 on the first four annual refills through a Rs 300 direct benefit transfer. The statement distinguished domestic LPG from fully market-priced commercial cylinders and said supply was maintained through increased production, diversified imports, and subsidy support.
    June 6, 2026
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    Trade and investment cooperation with Latin American and Caribbean countries expands through export facilitation, infrastructure upgrades and sectoral partnerships.
    Madhya Pradesh urged stronger trade and investment engagement with Latin American and Caribbean countries, highlighting rising exports and broad scope for bilateral cooperation in sectors such as pharmaceuticals, agriculture and food processing, information technology, biotechnology, energy, mining, logistics, manufacturing and tourism. The state government also proposed export infrastructure measures, including export facilitation centres, quality testing and certification facilities, upgraded export hubs, stronger buyer-seller linkages, improved export finance and risk coverage mechanisms, and skill development for exporters.
    June 6, 2026
    Show AI Summary
    Arctic logistics and aluminium value addition shape Andhra Pradesh's push to become a strategic trade and manufacturing hub.
    Andhra Pradesh was presented as a strategic gateway for Arctic logistics and broader global trade, supported by its coastline, ports and logistics infrastructure. The discussion stressed resilient supply chains, shorter shipping routes, two-way cargo movement and stronger economic connectivity. Separate talks with RUSAL focused on expanding aluminium value addition in the state through downstream manufacturing, smelting capacity and an integrated industrial ecosystem linked to ports, logistics and renewable energy.
    June 6, 2026
    Show AI Summary
    GI-tagged Tezpur litchi festival highlights export growth, value addition and wider market opportunities for growers.
    Tezpur Litchi Festival 2026 highlighted Assam's GI-tagged Tezpur litchi as a crop with growing export and agro-processing potential. The event brought together farmers, exporters, scientists, entrepreneurs and policymakers to discuss market expansion, branding, value addition and improved cultivation practices, while fresh export initiatives were announced for Dubai and Singapore. The festival also showcased innovative litchi-based products, exhibitions, seminars and farmer recognition to strengthen commercial visibility and market reach.
    June 6, 2026
    Show AI Summary
    Carbon credit trading and green hydrogen standards shaped India's WTO climate engagement and low-carbon transition agenda.
    India presented its carbon credit trading framework and renewable energy standardisation initiatives at WTO Trade and Environment Week 2026, linking them to sustainable development, clean energy transition and nationally determined contributions under the Paris Agreement. The discussion highlighted India's evolving national carbon market architecture under the Carbon Credit Trading Scheme, including a national electronic carbon credit trading platform and market-based incentives for greenhouse gas emission reduction. It also referred to technical criteria for classifying hydrogen as Green Hydrogen and to transparency concerns around unilateral trade-restrictive climate measures.
    June 6, 2026
    Show AI Summary
    Maritime insurance self-reliance gains momentum as the Bharat Maritime Insurance Pool lowers risk-cover premiums.
    A workshop on the Bharat Maritime Insurance Pool brought together maritime and insurance stakeholders to discuss current insurance covers available through the pool and the industry's requirements for protection and indemnity coverage in India. The discussions centred on the need for a reliable, sustainable and internationally acceptable domestic P&I framework, with the pool presented as a means of supporting maritime risk cover and reducing dependence on foreign P&I arrangements for Indian shipping interests. Premium reductions under the pool were highlighted for hull war and cargo war-risk covers, with the benefit of sovereign guarantee described as making maritime insurance more affordable.
    June 5, 2026
    Show AI Summary
    Trade and investment forum in Madhya Pradesh to showcase industrial infrastructure and export potential across key sectors.
    Diplomatic representatives from more than 15 Latin American and Caribbean countries are to participate in a trade and investment forum in Indore organised to discuss trade and investment opportunities in Madhya Pradesh. The event will showcase the State's industrial infrastructure, export potential and investment prospects across sectors including pharmaceuticals, packaging materials, engineering, textiles and food processing.
    June 5, 2026
    Show AI Summary
    Bilateral trade agreement negotiations advance as India and the US hold positive talks on goods, customs and facilitation.
    India and the US held positive and constructive negotiations to advance an interim bilateral trade deal and a broader trade agreement. The talks followed an earlier framework for reciprocal and mutually beneficial trade and were intended to firm up that arrangement through continuing engagement. Discussions covered trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment, and other areas of mutual interest, with both sides reaffirming their commitment to carry the agreement forward.

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      Customs & Trade

      Target seafood exports worth USD 30 bn in next 5 years: Goyal

      June 5, 2026

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      Visakhapatnam, Jun 5 (PTI) Commerce and Industry Minister Piyush Goyal on Friday called for increasing seafood exports to USD 30 billion over the next five years, up from the current USD 8.5 billion.

      He also pitched for focusing on quality and manufacturing of value-added products to fetch good prices in international markets.

      "Let's target USD 30 billion in the next five years," he said here at the national workshop on seafood exports.

      He said the target can be achieved by focusing on increasing production and quality.

      India has finalised nine free trade agreements with developed nations in the last three and a half years, and it will provide greater market access for the sector, Goyal added.

      "Take India's fish across the world. Reduce import of raw shrimp and export value-added goods and build brands," he noted.

      Speaking at the event, Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh said there is a need to raise India's share in global fisheries exports.

      He said that efforts are underway to increase value addition in fisheries exports to maximise gains for exporters and small fishermen.

      Singh also called for the creation of infrastructure to promote exports from inland states, whose share is less.

      Despite high tariffs (55.8 per cent) by the US, India's exporters ensured a rise in exports to the EU, Japan, China, and Southeast Asia to offset any losses, he added.

      He also hinted that the National Fisheries Board will soon set up a regional office in Andhra Pradesh, the largest producer of fish and seafood exporter in India, with an aquaculture production of 55.39 lakh tonnes in 2025-26, and holds a 66 per cent share in shrimp exports.

      India's marine product exports reached a record Rs 73,890.46 crore (USD 8.45 billion) in 2025-26, with export volumes of 19.72 lakh metric tonnes, while the sector has set a target of achieving Rs 1 lakh crores in exports.

      The US and China continued to be the principal destinations for Indian seafood exports, while frozen shrimp retained its position as the flagship export product.

      Civil Aviation Minister Rammohan Naidu said the government is looking to double the number of airports to over 350.

      He added that there are plans to add more cargo airports in the country Naidu said that on the lines of One District One Product, the ministry is looking at developing one airport, one product.

      He also suggested reducing processing time for export consignments at cargo terminals. PTI RR BAL BAL

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