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    India-EU FTA to spur German-Indo trade, open new investment avenues: Envoy
    TCS launches India's first Oracle AI Data platform lab in Kolkata
    ED issues fresh summons to former Kerala CM’s daughter in PMLA case
    ED issues fresh summons to Pinarayi Vijayan's daughter Veena
    A&H Finverse Redefines Business Lending in India with Decade-Long Expertise and Pan-India Expansion
    Clever Hunt Pvt. Ltd. Secures Rs 75 Cr Structured Debt from Syndicate Finance to Boost Exports and Expand Manufacturing in India.
    Rupee surges 65 paise to 95.20 against US dollar in early trade
    India’s FTAs with Developed Economies to Support Growth, Innovation, Quality Upgradation and Job Creation: Union Minister of Commerce & Industry Shr...
    Union Minister of Commerce & Industry Shri Piyush Goyal to visit Switzerland from June 12-13, 2026
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participates in virtual meeting on Global Convergence for Growth Summit, from N...
    Parliamentary panel on commerce holds discussions on Indo-US trade ties at Raipur meeting
    India to remain fastest-growing major economy at 6.6 pc in FY27, down from 7.2 last year: World Bank
    Rupee slumps 60 paise to close at 95.85 against US dollar
    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
    Rupee slumps 50 paise to close at 95.75 against US dollar
    Maritime trade is neither 'impeded nor endangered': Jaishankar in Bulgaria
    Haleon Announces ~₹2000 Crore Total Investment to Set Up its First Manufacturing Facility in India
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    June 12, 2026
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    India-EU free trade agreement seen as boosting Germany-India trade, manufacturing, IT and renewable energy cooperation.
    The proposed India-European Union Free Trade Agreement is expected to strengthen Germany-India trade relations and create additional opportunities for German companies to expand their presence in India. The focus includes manufacturing and information technology, with interest extending beyond established hubs such as Pune and Bengaluru to other regions of the country. Cooperation is also described in the fields of renewable energy, solar energy, environment and sustainable development, supported by the Indo-German Green and Sustainable Development Partnership.
    June 12, 2026
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    Enterprise AI and data transformation expand with a new platform lab for scalable analytics and automation.
    Enterprise AI and data transformation infrastructure was expanded through the launch of an Oracle AI Data Platform Lab and Centre of Excellence designed to address fragmented data systems, slow analytics cycles, limited AI scalability and operational inefficiencies. The facility is intended to make enterprise data AI-ready and support deployment of AI-powered applications and automation at scale using Oracle Cloud Infrastructure, Oracle Autonomous AI Database and OCI Enterprise AI. Similar labs and centres are planned in additional Indian cities.
    June 12, 2026
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    Money laundering probe over alleged CMRL-Exalogic transactions leads to fresh summons and document production requirements.
    Enforcement Directorate issued a fresh summons in a money laundering probe involving CMRL and Exalogic Solutions Private Limited, requiring appearance with relevant documents. The inquiry concerns alleged payments without services and a loan transaction said to have generated proceeds of crime, with the case registered under the Prevention of Money Laundering Act on the basis of an SFIO complaint.
    June 12, 2026
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    Money laundering probe over alleged fraudulent company transactions and bogus expenses leads to fresh questioning summons.
    Enforcement Directorate issued fresh summons in a money-laundering probe over alleged fraudulent transactions between a defunct IT company and a Kerala-based sand mining company. The investigation concerns consultancy-linked payments, loans despite repayment default, and whether the transactions generated proceeds of crime. The background also refers to alleged bogus expenditure entries, cash generation, prior searches, admissions before tax authorities, and a prosecution complaint filed after the complaint-based investigation.
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    Responsible lending drives A&H Finverse's pan-India expansion, offering customised financing for complex business needs.
    A&H Finverse has been launched as the evolved identity of A&H Capital, with a continued emphasis on responsible lending, transparency, fairness and ethical business finance. It positions itself as a specialist in large-ticket and complex financing needs, offering customised solutions through unsecured business loans, structured finance, construction finance, trade finance, working capital solutions, crisis funding, capital raising through NCDs and structured instruments, and sector-specific funding. The firm also highlights its pan-India expansion, including South India and a branch office in Kolkata.
    June 12, 2026
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    Structured debt financing supports export-led manufacturing expansion, operational nization, and supply-chain strengthening for a textile exporter.
    A textile manufacturer and exporter secured a structured debt facility to support export-led growth, including execution of confirmed overseas orders, procurement, manufacturing, inventory management, logistics, packaging, shipment, and related working-capital needs. The secured corporate debt arrangement was tailored to the company's export cycle, liquidity requirements, and commercial expansion plans, and was also intended to fund manufacturing expansion, process automation, quality assurance systems, compliance infrastructure, and supply-chain strengthening.
    June 12, 2026
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    Rupee movement strengthens as weaker dollar, lower crude prices, and improved market sentiment support early forex trade.
    Rupee movement in early foreign exchange trade was influenced by retreating global crude oil prices, a weaker US dollar, and improved domestic equity-market sentiment. The local unit opened stronger and moved higher against the US dollar after earlier weakness, with traders attributing the gain to reduced oil-price pressure following indications of an imminent Iran-related deal and the cancellation of planned military strikes.
    June 12, 2026
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    Free trade agreements with developed economies are positioned as engines for investment, innovation, jobs and quality upgradation.
    India's strategy of entering free trade agreements with developed economies is aimed at supporting long-term growth through expanded global engagement, investment inflows, innovation, job creation, quality upgradation and deeper participation in international trade. The India-EFTA Trade and Economic Partnership Agreement is described as a framework for trade, investment and innovation-led cooperation, with the EFTA countries committing investment support and direct job creation over the implementation period, while India provides access to a large and growing market.
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    India's economic engagement with Switzerland and the EFTA States is to be advanced through ministerial discussions focused on implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA). The visit includes meetings with Swiss Government representatives and pharmaceutical industry leaders, with attention to operational issues, bilateral trade, investment and economic cooperation. Interaction with Swiss companies and investors will further explore opportunities for expanding trade and deepening collaboration.
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    Global imbalances and multilateral cooperation require stronger development finance, resilient supply chains, and fairer burden sharing.
    Global growth requires coordinated action through strengthened multilateral cooperation, with particular attention to the disproportionate effects of conflicts, uncertainty and global imbalances on developing countries and the Global South. Policy responses should focus on excessive and persistent imbalances while recognising differing domestic needs across countries, and adjustment burdens should not fall on countries that are not the source of such imbalances. Stronger and more representative multilateral institutions, including Multilateral Development Banks with greater financing capacity, and resilient, diversified supply chains are needed.
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    India-US trade relations discussed through stakeholder consultations on exports, investment, and market access for agro-products.
    Parliamentary committee on commerce reviewed India-US trade relations with stakeholders and industry bodies, examining bilateral trade, investment, exports, imports and broader economic cooperation. The discussions focused on strengthening trade ties, promoting exports and expanding global market access for agricultural and processed food products, with inputs drawn from producer, processor and exporter associations, along with representatives of relevant ministries and export development bodies.
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    Growth outlook for India moderates as higher energy costs weigh on demand, while tax cuts and trade support aid recovery.
    India's growth is projected to moderate to 6.6 per cent in fiscal year 2026-27, with the slowdown linked to weaker private demand caused by higher energy prices and other input costs. Goods and Services Tax rate reductions are expected to support consumer demand, while fuel tax reductions and other measures have been used to ease price pressures. Reduced tariffs and expected free trade agreements may mitigate weaker external demand, with growth projected to rebound in subsequent fiscal years.
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    Money laundering quashing dispute turns on false representation allegations, foreign investment concerns, and the prima facie test at quashing stage.
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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.
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    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.

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      Corp. Laws / SEBI / IBC

      Assam Cabinet decides to stop Aadhaar issuance to those aged above 18 yrs

      June 13, 2026

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      Guwahati, Jun 13 (PTI) Assam Chief Minister Himanta Biswa Sarma on Saturday said his cabinet has decided that Aadhaar cards would not be issued to those aged over 18 years to ensure illegal immigrants don't acquire the document.

      In exceptional cases, the district commissioner will have to send a proposal to the state government seeking permission for issuing the card, he said at a press conference here after chairing a cabinet meeting.

      The government will then decide whether the applicant is eligible for the card, the chief minister said.

      Remarking that Aadhaar card issuance has reached a saturation point in the state, Sarma said, "In some districts, it has crossed the 100 per cent mark, and we must ascertain who these people are who are taking the additional Aadhaar cards." The step is being taken to ensure that no illegal Bangladeshis get Aadhaar cards, he said.

      Aadhaar cards will, however, continue to be issued to people from the Tea Tribe community, the Scheduled Tribes, the Scheduled Castes and the differently abled, as many are yet to receive the cards.

      "The ban will, however, be absolute from April 1, 2027, and people from these communities above the age of 18 will also stop receiving it from that date," the chief minister said.

      Aadhaar cards, however, will continue to be issued to those below the age of 18.

      Sarma had earlier said the state government would be "very strict" in issuing Aadhaar cards, and it would not be easy to get the document in Assam.

      Last year, he had said the Assam government was mulling stricter rules for the issuance of Aadhaar cards for adults as part of its efforts to curb illegal immigration from Bangladesh.

      The Supreme Court had said in a ruling on May 4 that the issuance of new Aadhaar cards only to citizens up to the age of six years require legislative intervention and appropriate amendments in the existing legal framework.

      A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi gave the ruling after hearing a public interest litigation (PIL) seeking direction to the Unique Identification Authority of India (UIDAI) to issue new Aadhaar cards only to citizens up to the age of six years.

      The bench said the appropriate recourse for the petitioner would be to bring all these issues to the notice of the state and other stakeholders to enable them to take cognisance of them.

      In Assam, the biometrics of over 9 lakh people for issuing Aadhaar card were locked during the updating of the National Register of Citizens (NRC).

      A petition was filed by then TMC MP Sushmita Dev for unlocking of the biometrics in 2022 and in September 2024, the Centre had unlocked the biometrics of these people so that they could get their Aadhaar cards.

      The chief minister had then said the Centre had instructed the UIDAI to issue the cards as it has been established that there is "no correlation between inclusion of name in NRC and Aadhaar registration".

      Sarma on Saturday said the cabinet has also approved the implementation of a framework for the VB-G RAM G Act in the state. He said it would be implemented from July 1.

      The budgetary allocation is Rs 2,000 crore, and 125 man-days will be created for direct wage employment under the new rural employment generation law, he said.

      Besides providing employment, importance will be given to creating assets, Sarma added.

      The cabinet also approved the establishment of Guwahati Satellite Cities Development Authority (GSCDA) to plan, finance, and develop satellite cities in and around the city.

      This will be within the jurisdiction of the Guwahati Metropolitan Development Authority.

      It was also decided in the meeting that cabinet approval will now be required for issuing 'no objection certificates' to officers of All India Services like IAS for central and inter-state deputation, the chief minister said.

      Sarma said the budget session of the Assam Assembly will be convened on July 6, and the exact date for the budget presentation will be announced soon. PTI DG NSD DG ACD

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