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June 9, 2026
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Innovation-led healthcare drives India's pharmaceutical growth strategy, with global partnerships and affordable medicines at the core.
India's pharmaceutical sector is presented as a partner in innovation-led healthcare while continuing to supply affordable medicines globally. Global companies are invited to deepen collaboration through manufacturing, technology, clinical trials, supply chains and market access, with the industry described as capable of significant expansion over the next five years. The sector's strengths are identified as trust, innovation and partnerships, supported by global manufacturing standards, rising patent filings, and government programmes for research and development. India also emphasises durable cooperation for equitable healthcare access and long-term pharmaceutical supply resilience.
June 9, 2026
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Credit availability and financial inclusion drive discussed to widen formal lending, scheme coverage, and capital investment support.
Credit availability, financial inclusion and implementation of Central schemes were discussed with a view to expanding formal credit, ensuring wider coverage under flagship financial inclusion and social security schemes, and supporting capital infrastructure through the Special Assistance to States for Capital Investment scheme.
June 8, 2026
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Stamp duty and registration reform focuses on clearer rules for restructuring, LLP, RERA transactions, and digital verification.
Simplification of legal provisions governing corporate restructuring, LLP, RERA-related transactions and stamp duty matters is directed to align the legal framework with changing economic and business requirements. The reform agenda includes review of stamp and registration procedures for mergers, demergers, amalgamation, acquisitions, changes in shareholding, housing cooperative societies and sale agreements, together with a clear and practical stamp duty structure based on best practices from other states. Modernisation measures include digital verification, paperless registration, digitisation of records, AI-based systems, geo-tagging and a standardised property valuation system.
June 8, 2026
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Current account balance improved on services exports, remittances and stronger capital inflows in the latest balance of payments data.
Current account balance improved in the January-March quarter of 2025-26, supported by stronger services exports and higher remittance inflows. Merchandise trade remained in deficit, but net services receipts and personal transfer receipts increased, while primary income outgo declined. The balance of payments also reflected stronger FDI inflows, a net FPI inflow in the quarter, and higher non-resident deposit inflows, alongside an increase in foreign exchange reserves on a BoP basis.
June 8, 2026
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Precious metals weaken as West Asia tensions, rising crude prices, and interest rate expectations pressure gold and silver.
Gold and silver prices declined in domestic and overseas markets amid fresh West Asia tensions, as rising crude oil prices and inflation concerns weighed on precious metals. Analysts said stronger dollar sentiment, robust US jobs data, and expectations of tighter monetary policy further pressured bullion, while silver extended its losing streak and Brent crude briefly surged before easing.
June 8, 2026
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Industrial park development scheme uses a competitive digital portal for transparent project selection, monitoring, and infrastructure planning.
BHAVYA is a Government industrial park development scheme launched through a dedicated portal to operationalise a competitive, challenge-based framework for selecting and implementing investment-ready industrial parks across States and Union Territories. The scheme contemplates development of 100 industrial parks over six years, with State Governments providing land and the Government of India supporting infrastructure through the National Industrial Corridor Development Corporation under a 51:49 partnership model. NICDC will implement and monitor the scheme through the BHAVYA Portal as a single digital interface for project submission, appraisal, evaluation and real-time monitoring.
June 8, 2026
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Market access for aquaculture and animal-origin exports continues as India meets updated European Union requirements.
European Union amended Regulation (EU) 2021/405 to add requirements for exports of aquaculture products, eggs, honey and animal casings from September 2026 in response to antimicrobial resistance concerns. India has been included as an authorised country to continue exporting these products beyond September 2026, following coordinated engagement by the Department of Commerce, the Export Inspection Council and other stakeholders and strengthened inspection, testing and certification controls aligned with European Union requirements.
June 8, 2026
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Gold loan eligibility and repayment flexibility widen access through minimal KYC, gold-based valuation, and simple online application.
Gold loan eligibility is broad and based on pledged gold collateral rather than income proof or extensive credit documentation. Indian citizens aged 21 to 80 may apply, using gold jewellery or ornaments of 18 to 22 karat purity, or gold coins up to 24 karats. Documentation is minimal and limited to one valid KYC document. Interest depends on loan amount, tenure, and gold purity, repayment is flexible, and foreclosure is permitted without additional charge.
June 8, 2026
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Money laundering probe gains access to SFIO records in CMRL-Exalogic investigation over alleged proceeds of crime.
The Enforcement Directorate sought access to documents collected by the Serious Fraud Investigation Office in a money laundering investigation connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions Private Limited. The court permitted the ED to obtain copies of 134 SFIO documents after hearing the ED, the SFIO and CMRL, notwithstanding CMRL's objection that the records should not be handed over without hearing the company.
June 8, 2026
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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
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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
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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
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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
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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.

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Customs & Trade

India and Slovakia elevate ties to comprehensive partnership, sign 11 pacts

June 15, 2026

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Bratislava, Jun 15 (PTI) India and Slovakia on Monday elevated their ties to a comprehensive partnership and firmed up 11 agreements to expand the bilateral cooperation in a range of areas such as migration, digital technology and defence following talks between Prime Minister Narendra Modi and his Slovak counterpart Robert Fico.

The two leaders also agreed to work towards the "earliest" implementation of the India-European Union free trade agreement that is expected to significantly shore up the bilateral economic engagement.

Modi is in Bratislava as part of his weeklong visit to Europe. It is the first visit to the European nation by an Indian prime minister.

"We have decided to elevate our relations to the status of a Comprehensive Partnership. This symbolises our shared beliefs, shared priorities, and shared future," he said in his media statement.

The comprehensive partnership aims to take bilateral relations to a new level, strengthen existing cooperation mechanisms and explore new avenues for deepening cooperation, both bilaterally and multilaterally.

The prime minister said he and Fico discussed ways to give a "new direction" to the ties.

Modi and Fico also agreed to enhance cooperation in the energy sector with a view to promoting energy security, sustainability and resilience through diversification of energy sources, including nuclear energy and geothermal power.

"Our potential is vast. Our aspirations are even greater. Automobiles, railways, advanced manufacturing, and green technologies are areas of particular interest to us," he said.

"Today, we combined our strengths on all these issues and took several important decisions for the benefit of the people of both countries." Modi also said that the defence cooperation between India and Slovakia is a testament to the "deep mutual trust and strategic convergence" between the two sides.

A Letter of Intent was finalised on defence cooperation following the talks between the two leaders.

The prime minister said it will give new momentum for cooperation between the defence industries of the two sides.

"India and Slovakia are also moving forward with close coordination on the global stage. We agree that all disputes and tensions should be resolved peacefully," he said.

"We also agree that global institutions need to redefine themselves to address the realities and challenges of the 21st century. We will work to strengthen global efforts in this regard," he added.

Modi also conveyed his appreciation to PM Fico for the cooperation Slovakia extended in finalising the India-EU free trade agreement.

"We will work towards its earliest implementation so that industries, startups, and traders of both countries can derive maximum benefit from it," he said.

In his remarks, PM Fico hailed the India-EU FTA, describing it as one of the "most ambitious" trade pacts ever signed.

"Slovakia not only welcomes this agreement, but it will take the necessary and practical steps for the implementation of this agreement," he said.

The agreements inked following Modi-Fico talks are set to provide for deeper bilateral cooperation in areas of labour migration, defence, digital technologies, higher education and quantum communication.

In the meeting, the two leaders, recognising the growing geopolitical, economic and technological importance of the Indo-Pacific, acknowledged the value of a stronger partnership between India and Slovakia in support of mutually beneficial cooperation, regional connectivity, open international trade, freedom of navigation, and peaceful resolution of disputes, according to a joint statement.

Modi and Fico expressed support for the orderly, safe and legal mobility of skilled professionals and welcomed the signing of the Memorandum of Understanding on cooperation in the field of labour migration to facilitate mobility.

The two sides also agreed to work towards the early conclusion of a Social Security Agreement, which would contribute to safeguarding the welfare and social protection of working professionals engaged in mobility between India and Slovakia.

The statement said Modi and Fico supported comprehensive reforms of multilateral institutions, particularly the UN Security Council. In this context, India appreciated Slovakia's continued support for India's permanent membership in a reformed and expanded UN Security Council.

The two leaders also unequivocally condemned terrorism in all its forms, including cross-border terrorism, and strongly condemned the Pahalgam terror attack.

They agreed to establish a Joint Working Group on Counter- Terrorism and called for concerted international efforts to combat terrorism in a comprehensive and sustained manner, the joint statement noted.

It said the leaders reaffirmed their commitment to strengthening bilateral and multilateral cooperation in counterterrorism, including within the framework of the UN and called for strong and decisive action against terrorists and terrorist entities, including those designated by the United Nations Security Council 1267 Sanctions Committee.

Modi and Fico further underscored the importance of holding perpetrators, organisers and sponsors of terrorist acts accountable and agreed to work closely towards the early finalisation and adoption of the Comprehensive Convention on International Terrorism (CCIT) within the UN framework. PTI MPB ZH ZH

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