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    UPI Goes Live in Greece, Commerce and Industry Minister Shri Piyush Goyal Witnesses the Launch at Eurobank
    Govt hikes windfall tax on petrol, cuts levy on diesel, ATF exports
    Banks NPA at multi-decadal low of 1.8pc, Indian financial system remains resilient: RBI report
    Home Minister Amit Shah launches revamped FCRA portal, e-OCI card
    Monthly review of accounts of Government of India upto May 2026 (FY 2026-27)
    Government extends full customs duty exemption on critical petrochemical products in view of ongoing conflict in West Asia till 15th July 2026
    DRI busts trans-border gold smuggling syndicate; seizes 15 kg smuggled gold; four arrested
    US-Iran thaw to provide tailwinds for growth: RBI
    Domestic financial system remains resilient despite external shocks, says RBI report
    Government extends last date for filing appeals before the GST Appellate Tribunal to 31st July 2026
    Centre extends CBDT Chairman Ravi Agrawal's tenure by 6 months
    How Delta Exchange India Makes Crypto Trading Simple and Affordable
    Telangana govt considering incentives to boost rice exports: Minister Uttam Kumar Reddy
    Taxpayers can file appeal before GSTAT till July 31: FinMin
    Aastha Spintex IPO Opens; SEBI-Registered Research Analysts Cite Capacity Expansion and Financial Growth in 'Subscribe' Recommendations
    China's factory activity expands in June with boost from tech exports
    India Marks Largest-Ever Participation at North America’s Summer Fancy Food Show 2026 with Inauguration of India Pavilion
    MPEDA to Organise Second National Seafood Skill Olympiad During Seafood Expo Bharat 2026
    Cabinet approves additional investment commitment of Rs. 30,000 crore in National Investment and Infrastructure Fund (NIIF) to accelerate infrastructu...
    HDFC board picks up ex-Finance Secretary Rajiv Kumar to steer bank
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    July 1, 2026
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    UPI expansion and cross-border digital payments advance as services go live in Greece alongside India-Greece business cooperation.
    UPI services were launched live in Greece through the Eurobank-NIPL partnership, extending India's digital payment ecosystem to a new international market. Eligible customers may transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly compared with conventional money transfer methods. The accompanying India-Greece business engagements focused on strengthening trade, investment, and commercial cooperation across sectors including infrastructure, digital innovation, defence, food processing, and agriculture.
    June 30, 2026
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    Windfall tax on petroleum exports revised, with lower diesel and ATF levies and a higher petrol export duty.
    Windfall gains tax on petroleum exports was revised for the fortnight beginning July 1, with the levy on diesel exports reduced and the levy on ATF exports reduced, while the duty on petrol exports was increased. The revised special additional excise duty applies to exports only, and there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption. The exemption earlier available for exports of petrol, diesel and ATF by Public Sector Oil Companies to Nepal, Bhutan, Bangladesh and Sri Lanka was extended to similar exports to Mauritius and Maldives.
    June 30, 2026
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    Banking system resilience remains strong as NPAs fall, while funding costs and AI cyber threats intensify.
    Indian financial system remains resilient, supported by strong bank and non-bank balance sheets, with gross non-performing assets at a multi-decadal low of 1.8 per cent as of March 2026. The report flags funding challenges from a shift away from low-cost deposits to higher-cost liabilities, rising external risks from geopolitical tensions and commodity price pressures, and AI-enabled cyberattacks as the most important near-term bank cyber threat.
    June 30, 2026
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    Foreign contribution compliance becomes fully digital as the revamped FCRA portal streamlines verification, monitoring and online filing processes.
    A revamped online FCRA portal digitises registration, renewal, annual returns and other foreign contribution compliance processes, while incorporating the new amendment rules and enabling real-time monitoring through integrated database verification. A separate e-OCI Card provides a fully digital OCI process, online document submission and passport-detail updates without requiring a new booklet for older cardholders.
    June 30, 2026
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    Government of India monthly accounts show receipts, tax devolution, and expenditure composition up to May 2026.
    Government of India's monthly accounts up to May 2026 show consolidated receipts of Rs.7,18,669 crore, including net tax revenue, non-tax revenue, and non-debt capital receipts, with Rs.1,75,557 crore transferred to State Governments as tax devolution. Total expenditure stood at Rs.8,81,023 crore, covering revenue and capital account spending, including interest payments and major subsidies.
    June 30, 2026
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    Customs duty exemption on critical petrochemical imports extended to support supply chains and domestic availability.
    Full Customs Duty exemption on imports of critical petrochemical products has been extended until 15 July 2026 as temporary and targeted relief in view of the conflict in West Asia and disruptions in global supply chains. The extension is intended to ensure sufficient availability of petrochemicals in the domestic market, with the list of covered products unchanged from the earlier notification. The exemption is expected to support sectors dependent on petrochemical feedstock and intermediates and provide relief to consumers of final products.
    June 30, 2026
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    Trans-border gold smuggling and cryptocurrency financing exposed after concealed foreign-origin gold was recovered from a courier consignment.
    Trans-border gold smuggling operation involving foreign-origin gold concealed in an international courier consignment declared as "worn gear" was intercepted by the Directorate of Revenue Intelligence. Examination of the consignment led to recovery of foreign-origin smuggled gold hidden inside gear parts, and subsequent searches at the residence of the intended recipient and the alleged mastermind yielded additional concealed gold pieces. Four persons, including the alleged mastermind and a foreign national, were arrested, and preliminary investigation indicated use of cryptocurrency to finance the smuggling network.
    June 30, 2026
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    Economic growth resilience improves as supply chain normalisation, capital inflows and policy support offset external shocks and inflation pressures.
    The interim peace deal between Iran and the US is expected to support Indian economic growth by easing global turbulence and helping normalise supply chains. High-frequency indicators suggest firm activity, while government support to MSMEs and exports may cushion external shocks. Elevated commodity prices, a weak monsoon and limited fuel price pass-through could pressure inflation, the fiscal deficit and domestic growth, although external sector resilience and stronger capital inflows may mitigate funding constraints.
    June 30, 2026
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    Financial system resilience strengthened by capital buffers, improving asset quality, and stress-tested banking stability amid AI cyber threats.
    Domestic financial system remains resilient, supported by strong bank and non-bank balance sheets, with scheduled commercial banks described as safe and sound and stress tests showing capital ratios above regulatory thresholds even under adverse scenarios. Non-banking financial companies are also financially sound, while AI-enabled cyberattacks are identified as the most important near-term cyber threat.
    June 30, 2026
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    GST appeal filing deadline extended for tribunal appeals after portal pressure and stakeholder representations.
    The Government has extended the due date for filing appeals before the Goods and Services Tax Appellate Tribunal under Section 112(1) read with Section 112(3) to 31.07.2026. An earlier notification had fixed 30.06.2026 as the last date for such filings. The extension was issued in response to representations from stakeholders pointing to technical difficulties caused by a surge in filings on the GSTAT portal.
    June 30, 2026
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    CBDT chairmanship tenure extension on contract basis under re-employment terms and relaxed recruitment rules.
    The Union government extended the tenure of the CBDT Chairman, Ravi Agrawal, by six months on a contract basis from 01.07.2026 or until further orders, whichever is earlier. The extension is on the terms and conditions applicable to re-employed central government officers, in relaxation of the Recruitment Rules, for his continued service as Chairman of the Central Board of Direct Taxes.
    June 30, 2026
    Show AI Summary
    INR-settled crypto derivatives trading stands out with low fees, tax treatment differences, and beginner-friendly platform features.
    Delta Exchange India is presented as an INR-focused crypto trading platform designed to simplify futures, options, and tracker trading through low fees, full rupee settlement, and features for beginners and advanced traders. The platform integrates with UPI and IMPS, offers a demo account, strategy builder, basket orders, API access, and an algo marketplace, while operating in line with Indian regulations and using security measures such as two-factor authentication and multi-signature wallets. It also states that INR-settled derivatives are treated differently from direct crypto purchases under Indian tax rules and are not subject to the 1% TDS or 30% flat tax applied to direct crypto transactions.
    June 30, 2026
    Show AI Summary
    Rice export incentives aim to open overseas markets, support quality-compliant industries, and improve returns for farmers and millers.
    Telangana is considering incentives and a dedicated policy framework to boost rice exports and help rice producers access overseas markets. Government support would extend to industries meeting export quality standards, including speedy approvals and necessary clearances, along with support for value-added rice products to improve returns for farmers and rice millers.
    June 30, 2026
    Show AI Summary
    GSTAT appeal filing deadline extended to July 31 amid portal congestion and technical difficulties for taxpayers.
    The government extended the due date for filing appeals before the Goods and Services Tax Appellate Tribunal (GSTAT) to July 31, 2026, after stakeholders reported technical difficulties caused by heavy traffic on the GSTAT portal. Taxpayers were advised to file well in advance rather than wait until the deadline, to reduce the risk of portal congestion and technical disruption during the transition to the newly operational tribunal framework.
    June 30, 2026
    Show AI Summary
    IPO subscription and expansion strategy drive research analysts' Subscribe view for Aastha Spintex amid textile sector growth.
    Aastha Spintex Limited has opened a fresh public issue for subscription, with the proposed listing of its shares subject to completion of the issue process and regulatory approvals. The issue proceeds are stated to be earmarked mainly for acquisition of Falcon Yarns, working capital needs, and general corporate purposes. SEBI-registered research analysts have covered the issue and assigned a Subscribe view for investors with a medium- to long-term horizon, citing expansion plans, improving financial performance, operational efficiencies, and exposure to the textile sector.
    June 30, 2026
    Show AI Summary
    Manufacturing growth in China gains pace as AI hardware exports lift factory activity and external demand remains key.
    China's manufacturing sector expanded in June as the purchasing managers' index moved above the neutral threshold, supported by stronger new orders, production and robust exports driven by demand for artificial intelligence hardware. The report said external demand remained the main engine of growth, while domestic consumption stayed sluggish amid continued caution after the property sector downturn.
    June 30, 2026
    Show AI Summary
    Indian food exports gain global showcase as the India Pavilion highlights premium products, mangoes and basmati at Summer Fancy Food 2026.
    India's largest-ever participation at North America's Summer Fancy Food Show 2026 was showcased through the inauguration of the India Pavilion, jointly presented by APEDA and ITPO. The pavilion brought together Indian food brands, exporters and innovators across categories including basmati rice, spices, ready-to-eat foods, beverages, organic products, frozen foods, snacks and value-added agricultural products, reflecting rising global demand for Indian food products and the strength of India's processed food sector.
    June 30, 2026
    Show AI Summary
    Seafood skill development advances through MPEDA's National Seafood Skill Olympiad and value-added export training programmes.
    MPEDA will organise the second National Seafood Skill Olympiad during Seafood Expo Bharat 2026 to promote innovation, quality standards, skill recognition and value addition in marine exports. As preparation, MPEDA conducted 50 nationwide Seafood Value Addition Training Programmes for more than 2,500 workers and professionals, followed by preliminary, State-Level and Regional Skill Olympiads to shortlist finalists for the national finale. Seafood Expo Bharat 2026 will also provide a platform for business meetings, technical sessions and industry exchange across the seafood value chain.
    June 30, 2026
    Show AI Summary
    Infrastructure financing commitment expands NIIF support to attract institutional capital and fund strategic national projects.
    Additional Government commitment of investment capital to the National Investment and Infrastructure Fund has been approved to expand infrastructure financing and attract institutional participation into nationally important sectors. The commitment supports a second infrastructure-focused fund, successor fund strategies and wider investment deployment across transportation, energy, digital infrastructure, urban infrastructure and e-mobility, with the broader aim of catalysing private capital and strengthening public-private partnership frameworks.
    June 29, 2026
    Show AI Summary
    Bank board appointment and governance profile highlight strengthened banking oversight, depositor protection, and credit discipline measures.
    HDFC Bank approved the appointment of former Finance Secretary Rajiv Kumar as an Independent Director for four years from 30 June 2026 and, subject to Reserve Bank of India approval, as Part-time Chairman for three years with remuneration to be determined from the date approved by the central bank. The bank also recorded that he is not related to any other director or key managerial personnel. His profile further noted banking clean-up measures, NPA recognition and provisioning, action against shell companies and unregulated deposit schemes, and strengthened monitoring of large exposures and fraud risks.

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      Customs & Trade

      Telangana demands Centre to meet state's full fertiliser requirement for kharif season

      June 23, 2026

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      New Delhi, Jun 23 (PTI) The Telangana government on Tuesday urged the Centre to ensure adequate fertiliser supplies to meet the state's full requirement amid a rise in demand for DAP and urea this kharif season.

      State Agriculture Minister Tummala Nageswar Rao and Irrigation Minister Uttam Kumar Reddy raised this issue in a meeting with Union Agriculture Minister Shivaraj Singh Chouhan here. ​ Rao informed that there is a significant rise in demand for DAP and urea fertilisers in the state with the commencement of the kharif season.

      He requested the Centre to bridge the gap between the allocated quota and actual supply, ensuring the state receives its full requirement of fertilisers, the state government release said.

      On pulses and oilseeds procurement at a minimum support price, the minister demanded that the Centre do away with the 25 per cent procurement limit and purchase the entire produce at a support price. ​ Rao also demanded that the central government procure maize and sorghum at MSP amid a fall in wholesale rates owing to record output. ​ He informed that the state government has already borne a significant financial burden to purchase maize and sorghum in order to support the farmers. ​ In a separate meeting with Union Food Minister Pralhad Joshi, Rao demanded that the central government raise the import duty on crude palm oil to 44 per cent from the current level. ​ The duty reduction was hurting the oil palm farmers in Telangana, where the cultivation has expanded to 3 lakh acres, engaging 70,000 farmers.

      ​The state government is moving forward with the goal of increasing this area to 10 lakh acres over the next three years. ​ The minister expressed concern that domestic oil palm farmers are suffering significant losses due to the recent reduction in the import duty on crude palm oil, the statement added.

      The minister explained that the reduction in import duty has led to an influx of low-priced palm oil from abroad, causing prices in the domestic market to plummet. Consequently, oil palm farmers are unable to secure remunerative prices for their Fresh Fruit Bunches (FFB).

      The minister said the price uncertainty is causing anxiety among farmers, especially given the substantial investments required for oil palm cultivation – a long-term crop. PTI LUX SHM

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