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    Exports register 6-month high growth of 18 pc in May; trade deficit widens to USD 28.21 bn
    Horizon: Pioneering the Future of Elevated Residential Hospitality
    Finalising NFL's tender to import 17 lakh tn urea; stock comfortable for Kharif season: Govt
    US Trade Representative to hold trade pact talks with Goyal next week
    SC to hear tomorrow plea seeking strict use of Aadhaar only as identity proof
    Wholesale inflation hits record high of 9.68 pc in May as fuel costs spike
    Rupee rises 47 paise to settle at 94.71 against US dollar
    AU Small Finance Bank Strengthens Customer-First Approach to Its Credit Card Range
    Exports up 18 pc to USD 45.2 bn in May
    Delhi's role important in showing efficiency, accessibility of digital governance: LG
    Kerala: ED questions CMRL MD''s daughter in money laundering probe
    WPI inflation rises to 9.68 pc in May as fuel, food, manufactured items see price spike
    TMC MP Abhishek Banerjee appears before ED for questioning in primary school jobs case
    More steps likely to attract foreign capital: Sitharaman
    India, UK discuss collaboration in tech, research, startups
    Rupee rises 58 paise to 94.60 against US dollar in early trade
    Goa Congress urges Sebi to withhold listing of Vedanta Iron and Steel Ltd
    Rupee-dollar fluctuations driven by global, domestic factors: Sitharaman
    2 arrested for operating fake common service centre, online fraud in Meerut
    Unauthorised absence by RBI official grave misconduct: HC; upholds his removal
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    June 15, 2026
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    Exports and imports data show higher trade deficit amid strong export growth and rising petroleum-driven imports.
    Exports rose to a six-month high in May, while imports also increased, causing the trade deficit to widen on a year-on-year basis even though it eased slightly from April. Export growth was driven by electronic goods, petroleum products, engineering items and pharmaceuticals. For April-May 2026-27, exports and imports both recorded double-digit growth, leaving a larger cumulative trade deficit. Gold and crude oil imports rose sharply during the period, while exports to West Asia remained close to the previous year's level despite regional disruption.
    June 15, 2026
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    Luxury residential hospitality redefined through a private rooftop restobar, resident-exclusive experiences, and integrated lifestyle ecosystems.
    Luxury residential development is being repositioned around experience-led amenities rather than apartment size alone, with Horizon introduced as a private rooftop restobar at the crown of Raheja Imperia-I in Worli. The concept is presented as a resident-exclusive social destination on the 60th floor, designed to enhance privacy, prestige and lifestyle value within a residential address. The project is also described as part of a broader portfolio strategy centred on integrated lifestyle ecosystems and collaboration with a hospitality operator.
    June 15, 2026
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    Fertiliser supply security remains comfortable as government finalises urea imports and reviews Kharif-season availability.
    The government said it is finalising imports of 17 lakh tonnes of urea to strengthen domestic supply while maintaining that fertiliser availability for the ongoing Kharif season remains comfortable. The Department of Fertilizers said stocks are above the usual level, domestic production and imports have supplemented supply after the West Asia crisis, and more than 50 lakh tonnes of urea and P&K fertilisers have been secured from multiple countries. The department also said subsidy bills are being paid weekly and adequate budget support is available.
    June 15, 2026
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    India-US trade talks advance as both sides seek to finalise an interim framework amid shifting tariff conditions.
    Interim India-US trade agreement discussions are scheduled to continue, with talks centred on finalising the framework deal and advancing the broader bilateral trade agreement. The framework covers trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment and related areas of mutual interest. The article also notes that changes in the US tariff landscape may require recalibration of the agreement, while Section 301 investigations and a proposed tariff measure linked to forced labour remain under consideration.
    June 15, 2026
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    Aadhaar identity proof dispute seeks limits on its use for citizenship, address and voter registration verification.
    A public interest plea seeks directions to ensure that Aadhaar is used strictly as proof of identity and not as proof of citizenship, domicile, residential address or date of birth. The petition invokes the Aadhaar Act, the Representation of the People Act and Article 14 to challenge Aadhaar-based verification in new voter registration forms, and alleges that the existing electoral verification mechanism is inadequate. It also seeks a comprehensive overhaul of the framework and a monitoring committee to oversee reforms.
    June 15, 2026
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    Wholesale price inflation and producer price indices show energy shocks, a revised index base, and a shift toward PPI tracking.
    Wholesale price inflation rose to a record high in May, driven mainly by sharp increases in fuel and power costs and other energy-linked inputs. The government revised the wholesale price index base year to 2022-23, expanded the WPI basket, and released producer price indices for the first time, including services PPI for selected service sectors. The stated objective is to track output and input price movements and gradually replace WPI data with PPI in line with global practice.
    June 15, 2026
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    Rupee appreciation gains support from softer crude, weaker dollar and improved risk sentiment after the US-Iran deal.
    Rupee appreciation in the foreign exchange market was driven by improved global risk sentiment after a US-Iran deal eased geopolitical tensions and pushed down crude oil prices. A weaker US dollar, lower treasury yields and a sharp rise in domestic equity markets also supported the local currency, with traders noting that softer energy prices may ease inflation pressure and improve external balance conditions.
    June 15, 2026
    Show AI Summary
    Credit card disclosure and payment flexibility shape AU Small Finance Bank's customer-first card range.
    AU Small Finance Bank's credit card range is structured around customer-first features, variant-specific rewards and spending patterns, with clear disclosure of interest rates, finance charges and fees. The cards offer multiple bill payment channels, including mobile banking, net banking, BBPS, UPI, NEFT, IMPS, auto-pay and assisted digital channels. Card benefits, eligibility, issuance, charges and terms remain subject to the cardholder agreement, internal policy and periodic review.
    June 15, 2026
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    Merchandise exports rise as imports climb further, widening the trade deficit in May.
    Merchandise exports increased in May, while imports also rose, resulting in a larger trade deficit. Commerce ministry data showed exports at USD 45.2 billion and imports at USD 73.41 billion for the month. For April-May 2026-27, merchandise exports rose to USD 88.91 billion, reflecting growth over the corresponding period of the previous year.
    June 15, 2026
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    Digital governance and Aadhaar access are highlighted as key tools for making public services more efficient and inclusive.
    Digital governance in Delhi should demonstrate efficiency, inclusivity and accessibility, with institutions adapting to rising expectations for transparency and service delivery. An Aadhaar Seva Kendra was inaugurated to improve access to Aadhaar enrolment, biometric updates and related services. The availability of operational Aadhaar centres is part of the broader effort to make governance more accessible and transparent for residents.
    June 15, 2026
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    Money laundering probe over alleged suspicious payments and loans linked to CMRL and associated entities.
    Enforcement Directorate questioning was undertaken in connection with a money laundering probe involving Cochin Minerals and Rutile Limited, its associated entities, and persons linked to the Kartha family and Veena Vijayan. The probe concerns allegations that CMRL made payments to Exalogic Solutions Private Limited without receiving services in return and that related lending transactions were extended despite alleged repayment defaults. The agency has alleged that these dealings generated proceeds of crime and registered the case under the Prevention of Money Laundering Act.
    June 15, 2026
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    Wholesale price inflation surges as fuel, food and manufactured goods costs rise amid global energy pressures.
    Wholesale price inflation rose to 9.68 per cent in May, driven by higher fuel and power, manufactured products, and food articles. The WPI inflation data was released with the base year revised to 2022-23 from 2011-12. Retail inflation also increased, while the Reserve Bank of India continued to focus on consumer price inflation for monetary policy and raised its inflation projection for the current fiscal year because of higher global energy prices and mounting input costs.
    June 15, 2026
    Show AI Summary
    PMLA money trail scrutiny drives questioning in the primary school recruitment probe, with financial records and digital evidence cross-checked.
    Enforcement Directorate questioning in a PMLA probe into alleged irregularities in primary school recruitments focused on tracing the alleged proceeds of crime and the movement of funds through accounts and entities. The interrogation was to be videographed and cross-checked against financial documents, digital records and statements of other accused persons, with clarification sought on inconsistencies between earlier submissions and materials recovered during searches.
    June 15, 2026
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    Foreign capital inflows get tax and forex support through RBI swap facilities and concessional borrowing measures.
    Measures to attract foreign capital included tax exemptions for foreign investors in government securities and RBI-backed swap facilities for banks and public sector undertakings. The framework allowed banks access to the FCNR(B) swap facility for currency risk management and offered a concessional forex swap facility to encourage external commercial borrowings, with currency hedging borne by the RBI as part of a calibrated approach to support market inflows.
    June 15, 2026
    Show AI Summary
    India-UK collaboration in innovation and technology advances alongside talks on trade pact implementation challenges.
    India and the UK discussed strengthening bilateral collaboration in innovation, technology, research, startups, and emerging technologies. The meeting also covered issues linked to implementation of the free trade agreement, including British steel safeguard measures that have created obstacles to operationalising the pact.
    June 15, 2026
    Show AI Summary
    Rupee appreciation gains strength as softer crude, weaker dollar and easing energy tensions support the currency market.
    The rupee strengthened in early interbank trade on the back of softer global crude prices, a weaker US dollar and firm domestic equity markets. Forex traders linked the appreciation to easing energy market pressure after the US and Iran finalised a peace deal expected to reopen the Strait of Hormuz and reduce global oil supply disruption concerns. Market commentary suggested an appreciating bias, while the broader context also noted net foreign institutional selling and a decline in India's forex reserves reported by the RBI.
    June 14, 2026
    Show AI Summary
    Disclosure obligations under LODR are challenged over alleged non-disclosure of contingent liability in a demerger listing.
    Sebi was urged to withhold the listing of Vedanta Iron and Steel Ltd. pending full disclosure of an alleged contingent liability linked to Goa iron ore mining operations. The complaint alleged that Vedanta Ltd. failed to disclose the liability in demerger documents and stock exchange filings, raising possible breaches of LODR disclosure obligations concerning material information and contingent liabilities. The request also sought a show-cause notice, a bank guarantee in favour of the Goa government, and an independent inquiry into the demerger scheme.
    June 14, 2026
    Show AI Summary
    Rupee volatility and forex management are driven by global factors, while RBI intervenes only to curb excessive market swings.
    Rupee-dollar fluctuations are driven by multiple global and domestic factors, including geopolitical uncertainty, foreign capital movements and import dependence on crude oil, fertilisers and gold. The Reserve Bank of India intervenes only to curb excessive volatility and stabilise the market temporarily, not to maintain a fixed exchange rate. The finance minister also linked exchange rates to global currency movements, foreign investment flows and foreign exchange management needs.
    June 14, 2026
    Show AI Summary
    Fake identity documents and bank accounts allegedly used to run online fraud through a forged common service centre operation.
    Alleged operation of a fake Common Service Centre and use of forged identity documents for opening bank accounts and facilitating online frauds. The activity was said to involve fake seals, fabricated records, debit and credit cards, mobile phones, and online payment platforms for illegal gains. A complaint linked to one bank account had earlier been registered on the National Cyber Crime Reporting Portal, and a case was registered under relevant provisions of the Bharatiya Nyaya Sanhita, the Information Technology Act and the Aadhaar Act.
    June 14, 2026
    Show AI Summary
    Unauthorised absence as grave misconduct in RBI service discipline, with compulsory retirement sustained after repeated opportunities were ignored.
    Unauthorised absence by a senior assistant of the Reserve Bank of India was treated as grave misconduct because prolonged absence from a responsible post was considered detrimental to public interest and capable of justifying disciplinary action. The employee had remained away from duty without permission, and repeated directions to resume work or submit a supported leave application were not met. The disciplinary process included a show-cause notice and enquiry, but several opportunities were given for participation, so the plea of breach of natural justice was not accepted.

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      News and Press Release

      QCI and FDDI Sign MoU to Strengthen Quality and Skilling Ecosystem in Leather and Footwear Sector

      June 13, 2026

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      Agra, Chennai, Kanpur Among Key Footwear Clusters to Benefit from QCI-FDDI Partnership

      Partnership to Develop Multi-Level Assessment and Certification Framework for Footwear Workers

      The Quality Council of India (QCI) and the Footwear Design and Development Institute (FDDI) have signed a Memorandum of Understanding (MoU) to strengthen the quality, testing, accreditation and skilling ecosystem in Bharat’s leather and footwear sector.

      The collaboration aims to establish a structured framework for capacity building, certification, testing infrastructure development and quality ecosystem strengthening across key footwear clusters, including Agra, Bahadurgarh, Ranipet, Chennai, Calicut and Kanpur.

      Through this partnership, QCI and FDDI will jointly design and deliver need-based, outcome-oriented programmes for workers, MSMEs, supervisors, industry professionals and other stakeholders across the leather and footwear value chain. The initiative will focus on enhancing workforce skills, promoting personal certification, strengthening quality management practices, improving access to testing facilities and supporting laboratories in achieving accreditation.

      As part of the collaboration, QCI will provide technical guidance on accreditation principles, quality management systems and relevant standards. It will also support awareness initiatives for MSMEs on quality, testing, accreditation and applicable government schemes, while contributing to the development of joint monitoring frameworks, research studies, white papers and case studies.

      FDDI will lead cluster-specific skilling and training programmes tailored to the requirements of different footwear hubs. It will also undertake mapping of testing and calibration laboratories, identify gaps in laboratory access, support the establishment of sample collection centres in underserved clusters and develop knowledge resources for industry stakeholders.

      The MoU also envisages the creation of a multi-level worker assessment and personal certification framework, including Recognition of Prior Learning (RPL) pathways for semi-skilled and experienced workers who possess industry-relevant skills but may lack formal educational qualifications.

      The MoU was signed by Secretary General, QCI, Shri Chakravarthy T. Kannan, and Managing Director, FDDI, Shri Vivek Sharma (IRS), on behalf of their respective organisations.

      The partnership is expected to contribute to the broader national vision of building globally competitive, quality-driven and future-ready manufacturing ecosystems in Bharat, particularly for MSMEs and workers engaged in the leather and footwear sector.

      The Quality Council of India (QCI) is a premier autonomous body established by the Government of India. QCI promotes a culture of quality across products, services and processes that impact citizens' lives. As an independent institution, it facilitates credible third-party assessments through its constituent boards and divisions. The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, serves as the nodal department for QCI.

      The Footwear Design and Development Institute (FDDI), under the Ministry of Commerce and Industry, Government of India, works in the areas of education, research, skill development, testing and certification for the leather and footwear sector.

       

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