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    Chandigarh University Becomes India's First Private University to Establish 'IndiaAI Data Lab' in Collaboration with Intel India
    India, US begin three-day talks to finalise details of trade pact
    Base Year of Wholesale Price Index Revised from 2011–12 to 2022–23
    Rs 2,004-crore homebuyer fraud: ED arrests 4 promoters for duping over 19,000 buyers
    Rupee falls 10 paise to close at 95.29 against US dollar
    CBSE opens portal for verification, re-evaluation of board exam answer sheets
    JOY-N-CREW Vacations LLP Marks Three Years of Redefining Premium Group Travel in India
    ED searches against Vedanta Group in FEMA case
    Crafting Bharat – Season 3 launches its fourth episode featuring Vaibhav Tambe of TransBnk.
    Gross and Net GST revenue collections for the month of May, 2026
    India’s Seafood Exports Reach Record High of ₹73,890 Crore in FY 2025–26
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    Rupee declines 34 paise to close at 95.19 against US dollar
    Kerala HC admits CMRL appeal against ED probe, stays action till Jun 5
    Chhattisgarh liquor 'scam': ED attaches assets worth over Rs 1,000 cr, names 4 more accused
    IDFC First Bank 'fraud': ED makes 3rd arrest in Rs 645-crore embezzlement case
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    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
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    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
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    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
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    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
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    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
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    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
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    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.
    June 2, 2026
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    GST revenue collections showed provisional growth in May 2026, with adjusted figures reflecting the telecom spectrum one-time payment.
    Gross and net GST revenue collections for May 2026 were presented as provisional figures, with break-ups for domestic revenue, import revenue, refunds and net collections under CGST, SGST and IGST. The note stated that May 2025 included a one-time telecom spectrum payment, and that adjusted growth is the better indicator of GST performance for May 2026. State-wise tables also showed SGST and IGST settlement figures and domestic GST revenue growth across States and Union Territories.
    June 2, 2026
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    Seafood export growth: India's frozen shrimp-led shipments hit a record high as the US and China stayed top markets.
    India's seafood exports reached a record high in FY 2025-26, with frozen shrimp remaining the dominant export item and contributing the largest share of export earnings and overall quantity. The United States and China continued to be the principal overseas markets, with the United States leading in value terms and China leading in quantity terms. The European Union, Southeast Asia, Japan and the Middle East also remained major export destinations, while Visakhapatnam, Jawaharlal Nehru Port Trust and Kochi were the top ports handling seafood export cargo.
    June 2, 2026
    Show AI Summary
    Government accounts highlight revenue receipts, tax devolution to states, and expenditure composition across revenue and capital heads.
    Government accounts for financial year 2025-26 were consolidated and published on a provisional, unaudited basis, showing receipts of the Union Government as net tax revenue, non-tax revenue, and non-debt capital receipts. During the period, a substantial amount was transferred to State Governments as devolution of the share of taxes, and total expenditure was recorded on both revenue and capital account, with interest payments and major subsidies forming significant components of revenue expenditure.
    June 2, 2026
    Show AI Summary
    Government revenue and expenditure account for April 2026 highlights tax receipts, devolution to states, and major spending heads.
    Government of India's monthly account for April 2026 records the consolidated receipt and expenditure position for the month. Receipts comprise tax revenue, non-tax revenue and non-debt capital receipts, with a transfer made to State Governments by way of devolution of taxes. The account also notes the corresponding expenditure split between revenue account and capital account, and identifies interest payments and major subsidies as significant components of revenue expenditure.
    June 1, 2026
    Show AI Summary
    Banking sector growth drives priority lending, while emergency credit support scheme implementation gets expedited for eligible borrowers.
    Kerala's banking sector showed strong growth in deposits, advances and priority-sector lending, with the credit-deposit ratio above the RBI benchmark. The review meeting also examined implementation of the Emergency Credit Line Guarantee Scheme and directed banks to identify eligible borrowers and deliver benefits expeditiously while supporting broader economic development.
    June 1, 2026
    Show AI Summary
    GST revenue growth driven by AI-based compliance and data integration lifted Andhra Pradesh to its best-ever May collections.
    Andhra Pradesh recorded its highest-ever May GST revenue since the introduction of GST, with strong year-on-year growth in total collections and net GST receipts despite GST 2.0 rate rationalisation measures. The revenue increase was supported by higher IGST settlement, petroleum VAT, professional tax and liquor VAT collections, along with technology-driven compliance measures. The department also expanded data integration and enforcement through AI-based analytics, scrutiny systems, UPI transaction analytics, Aadhaar integration and inter-departmental data sharing.
    June 1, 2026
    Show AI Summary
    Bank loan misuse allegations lead to formal arrest permission and judicial custody in the ongoing fraud investigation.
    CBI investigation into alleged misuse and diversion of bank loan funds in relation to Reliance Communications proceeded against a former senior executive, with the court permitting formal arrest in connection with the bank fraud case and remanding him to judicial custody in the meantime. The proceeding arose from allegations that loan funds and credit facilities sanctioned by a consortium of banks were managed and utilised in a manner that caused wrongful loss to the lending banks, while investigation against the accused remained ongoing.
    June 1, 2026
    Show AI Summary
    Rupee depreciation reflects geopolitical tensions, crude price gains and a stronger dollar, with RBI policy now in focus.
    The rupee weakened against the US dollar amid renewed geopolitical tensions, higher crude oil prices, a stronger dollar, and softer global risk sentiment. Forex traders noted intraday volatility in the interbank foreign exchange market and said the currency was under pressure from external market conditions, while any continued peace talks could limit further downside. Market attention shifted to the upcoming RBI Monetary Policy Committee meeting and the central bank's policy signal.
    June 1, 2026
    Show AI Summary
    PMLA investigation dispute over scheduled offence timing and natural justice challenge in CMRL appeal
    Appeal against a single-judge order permitting the Enforcement Directorate to continue a PMLA investigation was admitted, with no precipitative action to be taken until judgment. The dispute centres on whether a later SFIO complaint could justify an investigation that had allegedly begun before any scheduled offence existed, and whether additional affidavits filed after reservation violated natural justice. The company also challenged the ECIR, summons and related proceedings on jurisdictional grounds.
    June 1, 2026
    Show AI Summary
    Money laundering probe in alleged Chhattisgarh liquor scam leads to major asset attachments and four fresh accused
    Properties worth more than Rs 1,000 crore were provisionally attached under the Prevention of Money Laundering Act in connection with the alleged Chhattisgarh liquor scam, on the basis that the probe had identified proceeds of crime exceeding Rs 2,883 crore. The investigation alleged manipulation of the excise system through inflated procurement rates, unaccounted liquor manufacture and commission extraction through FL-10A licences. The attachment orders covered properties linked to Vikas Agrawal and alleged benami properties of Dhebar, Hotel Westinn Goa, and financial assets of three FL-10A licence-holder companies. A fresh supplementary prosecution complaint named four additional accused.
    June 1, 2026
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    Money laundering investigation under the Prevention of Money Laundering Act turns on alleged layering and concealment of public funds.
    Money laundering investigation under the Prevention of Money Laundering Act concerns alleged embezzlement of public funds from bank accounts linked to government departments and private schools. The investigation records an arrest for allegedly receiving proceeds of crime and participating in the generation, layering and concealment of laundered funds. It also alleges use of shell entities, jewellers and linked accounts to route, distribute and invest the proceeds, while the money trail and related assets are being traced.

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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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