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    Over 6 in 10 digital wallet users surveyed believe that RBI shouldn’t reduce the amount of money stored in digital wallets; Want it to retain or inc...
    India's forex reserves decline USD 9.98 bn to USD 671.62 bn: RBI data
    Sebi to reintroduce open market share buybacks via exchanges; eases intra-day borrowing rules for MFs
    SC flags 'deep-rooted nexus' between banks, asset reconstruction companies, borrowers over loans
    APEDA Facilitates First Export of Fresh Uttarakhand Litchi to Italy, Marking Entry into European Market
    Strait of Hormuz reopens: what it means for global energy security
    ED examines bank locker of ex-CM Vijayan’s daughter in money laundering case
    India-UK FTA more than just about trade: Foreign Secretary Vikram Misri
    Jio Platforms' mega IPO to entail fresh issue of up to 27 crore equity shares
    LUMIQ Raises INR 50 Crore Pre-Series B to Become the AI Decision Layer for Financial Services
    Kerala budget announces tax relief measures, EV road tax changes and amnesty schemes
    Bharat Buildcon 2026 Opens with Massive Industry Response; Attracts 25,000 Plus Visitors on Day One from 90 Plus Countries and 100 Plus Indian Cities
    GeM Partners with Common Service Centre to Expand Access to Government Procurement Opportunities Across India
    Rupee rises 20 paise to 94.20 against US dollar in early trade
    Direct tax mop-up grows 15 pc to over Rs 5.21 lakh cr on higher advance tax payments
    Andhra CM Naidu directs aquaculture feed firms to cut prices by Rs 4 per kg, manufacturers agree
    Modi, Trump direct officials to swiftly finalise trade pact: Foreign Secretary Misri
    Net income tax collection grows 15 pc to over Rs 5.21 lakh cr till Jun 17
    India to allow import of 3.78 lakh UK cars at concessional duty in first 15 years of trade pact
    Attack on ED officials: Court rejects bail plea of three accused
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    June 19, 2026
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    Digital wallet limits spark user opposition as survey backs retaining or increasing caps and linking them to KYC levels.
    A public survey of digital wallet users showed broad opposition to reducing wallet storage and transaction limits proposed under the draft Master Direction on Prepaid Payment Instruments, 2026. Most respondents wanted limits retained or increased, while others supported limits linked to the level of KYC or authentication completed by the user. The survey linked lower limits with inconvenience in daily payments and questioned whether tighter caps would reduce fraud. The draft framework was also noted to include higher Full-KYC wallet balances, lower cash top-up limits, transfer caps, interoperability, immediate refunds, and stricter compliance requirements.
    June 19, 2026
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    Foreign exchange reserves decline as gold reserves fall, while foreign currency assets rise in RBI data.
    India's foreign exchange reserves declined during the reporting week, primarily because of a sharp fall in gold reserves, even though foreign currency assets increased. The RBI data showed that the overall reserves fell to USD 671.625 billion, while special drawing rights and India's reserve position with the IMF also recorded marginal declines.
    June 19, 2026
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    Open market share buybacks through exchanges gain a faster route, alongside eased fund borrowing and quicker AIF fundraising.
    Reintroduction of open market share buybacks through stock exchanges provides companies with an additional mechanism for undertaking buybacks and is intended to ensure equitable opportunity and tax treatment for public shareholders. The measure is accompanied by a faster execution timeline for such buybacks. Relaxation of intra-day borrowing norms for mutual funds eases borrowing constraints, while a green-channel mechanism for alternative investment funds permits fundraising to begin within 10 working days of filing placement memorandums.
    June 19, 2026
    Show AI Summary
    Banking fraud and stressed loan settlements draw scrutiny over alleged nexus among banks, asset reconstruction companies and borrowers.
    Concerns were raised over an alleged nexus between banks, asset reconstruction companies and borrowers in the settlement of stressed loans, with emphasis on misuse of public money and inadequate recovery efforts. A plea sought a probe into alleged banking frauds involving public sector banks, asset reconstruction companies and a Noida-based infrastructure firm, including diversion of loan funds through shell companies, non-existent vendors, undisclosed bank accounts and suspected fraudulent transactions.
    June 19, 2026
    Show AI Summary
    Agri-export promotion gains momentum as fresh Uttarakhand litchi enters the European market through coordinated value-chain support.
    APEDA facilitated the first export consignment of fresh Uttarakhand litchi from Dehradun to Italy, marking entry into the European market and demonstrating the export potential of Uttarakhand's horticulture sector. The shipment reflects the growing international acceptance of India's premium fresh fruits and the expanding presence of Himalayan produce in high-value overseas markets. The initiative highlights coordinated value-chain support, quality production practices and export-oriented horticulture, while indicating better price realisation for growers.
    June 19, 2026
    Show AI Summary
    Strait of Hormuz reopening eases global energy security risks and restores free passage for commercial vessels.
    The reopening of the Strait of Hormuz restores a critical global energy chokepoint after months of disruption that had restricted shipping, pushed up crude prices and raised concerns over energy security. The memorandum of understanding contemplates free passage of commercial vessels through the Strait for a limited period, with full normalisation expected after mines and other technical obstacles are cleared. It also contemplates talks with Oman and other regional actors on longer-term administration.
    June 19, 2026
    Show AI Summary
    Money laundering investigation leads to bank locker examination over alleged corporate transactions and proceeds of crime
    Enforcement Directorate action in a money laundering investigation extended to examination of a bank locker belonging to Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan, in her presence at an HDFC Bank branch. The inquiry relates to alleged transactions involving her now-defunct IT firm, Exalogic, and its purported links with Cochin Minerals and Rutile Ltd, including payments said to have been made without corresponding services and loans allegedly extended through another company connected with CMRL management.
    June 19, 2026
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    India-UK trade agreement enters into force as leaders link commerce, mobility and broader bilateral cooperation.
    The India-UK Comprehensive Economic and Trade Agreement is scheduled to enter into force on July 15, marking a significant development in bilateral economic relations. The agreement is described as extending beyond trade and technology to include mobility and wider people-to-people engagement, with an expected boost to annual bilateral trade and business expansion plans on both sides.
    June 19, 2026
    Show AI Summary
    Initial public offer structure for Jio Platforms set as a fresh issue with price discovery through book building.
    A proposed initial public offer of Jio Platforms is to be made by way of a fresh issue of up to 27 crore equity shares of face value of Rs 10 each. The Draft Red Herring Prospectus has been approved and is to be filed with the Securities and Exchange Board of India, BSE and the National Stock Exchange. The issue price will be determined through the book building process in accordance with SEBI regulations, subject to the required regulatory approvals.
    June 19, 2026
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    Autonomous financial decision-making gains traction as auditable AI agents handle routine regulated workflows with compliance and control.
    AI deployment in financial services is described as shifting from advisory support to autonomous decision-making through a platform that applies an institution's own guidelines, reaches end-to-end decisions, and escalates only matters requiring human judgment. The system is presented as producing decisions with full reasoning, policy cross-reference, and auditability, while remaining consistent, explainable, compliant, and defensible under audit in banking, insurance, and capital markets workflows.
    June 19, 2026
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    Tax relief and amnesty measures reshape Kerala's budget through arrear settlements, vehicle tax revisions and stamp duty concessions.
    Kerala's revised Budget introduced tax relief measures, amnesty schemes and vehicle tax revisions, including settlement of Flood Cess arrears, waiver of specified small pre-GST arrears, revised sales tax rates for low-strength alcoholic beverages, reduced tax for AITP buses, changes in electric vehicle road tax slabs, an e-challan amnesty scheme, and a one-time settlement for undervaluation and deficit stamp duty cases.
    June 19, 2026
    Show AI Summary
    Construction and building materials expo drives exports, supply chains, and Make in India engagement across global markets.
    Bharat Buildcon 2026 opened as a large industry exhibition for the building materials and construction sector, drawing more than 25,000 visitors on the first day along with participants from over 90 countries and more than 100 Indian cities. The exhibition was presented as a platform for strengthening supply chains, encouraging technology adoption, generating business opportunities, and promoting exports and foreign investment in the construction and building materials sector.
    June 19, 2026
    Show AI Summary
    Government e-marketplace access expands through last-mile seller facilitation, onboarding support, and catalogue listing through new partnership.
    Government e-marketplace access is being expanded through a strategic partnership between GeM and CSC-SPV aimed at strengthening last-mile facilitation for sellers, especially in rural and underserved regions. The collaboration extends support through the full onboarding chain up to catalogue listing, with assistance for Vendor Assessment, Brand Approval, and creation and publication of product and service catalogues. A pilot rollout of 50 GeM Suvidha Kendras will provide guidance, training, onboarding support, capacity building, and grievance redressal for a range of enterprises.
    June 19, 2026
    Show AI Summary
    Rupee appreciation gains support from India-US trade optimism, foreign inflows and softer crude prices.
    The rupee appreciated in early trade against the US dollar, supported by optimism over India-US trade negotiations, firm foreign inflows and softer crude oil prices. Market sentiment remained positive as traders tracked developments suggesting momentum in talks on a proposed trade pact and an improvement in external flows. The foreign exchange market also reflected expectations that the Reserve Bank of India may use incoming dollar inflows to rebuild foreign exchange reserves and gradually reduce its forward dollar book.
    June 18, 2026
    Show AI Summary
    Direct tax collections rise on stronger advance tax mop-up and higher corporate tax receipts across key segments.
    Net direct tax collection increased by 14.64 per cent to over Rs 5.21 lakh crore up to June 17 of the fiscal year, driven primarily by higher advance tax mop-up from corporates. Net corporate tax collection rose 22 per cent, while net non-corporate tax collection increased 8 per cent. Securities Transaction Tax collection also recorded strong growth, and advance tax collection rose 15.30 per cent, with corporate and non-corporate advance tax both showing gains.
    June 18, 2026
    Show AI Summary
    Aquaculture feed price stabilisation drives a committee plan, with manufacturers agreeing to reduce prices and review sector concerns.
    Aquaculture feed pricing was addressed as a sectoral price-stabilisation issue, with manufacturers agreeing to reduce prices by Rs 4 per kg after a directive from the Chief Minister. A committee of aqua farmers, feed manufacturers and officials was proposed to develop a long-term mechanism for price stabilisation and to examine processing-related issues and pollution control measures, with recommendations due within 20 days. The discussion also covered subsidy awareness, insurance coverage, nursery ponds, water supply and strict quality control in aquaculture production.
    June 18, 2026
    Show AI Summary
    Interim free trade agreement negotiations advance as leaders urge swift conclusion of the India-US trade pact.
    Trade negotiations between India and the United States were described as being in the final stages of an interim free trade agreement, with both leaders directing their negotiators to conclude the pact at the earliest. The discussions were said to have addressed uncertainty in bilateral trade and to have produced significant progress, with further talks expected to continue through an upcoming visit by the US Trade Representative.
    June 18, 2026
    Show AI Summary
    Direct tax collection growth drives higher net income tax mop-up, with corporate and non-corporate taxes both rising.
    Direct tax collection recorded year-on-year growth during the early part of the fiscal year, with net income tax collection rising to over Rs 5.21 lakh crore by June 17. Net corporate tax collection increased sharply, while net non-corporate tax collection also posted growth; the non-corporate category covers taxes paid by individuals, HUFs and firms. Refunds were issued during the period and showed a marginal increase compared with the corresponding earlier period.
    June 18, 2026
    Show AI Summary
    Phased customs duty cuts on UK passenger car imports set quota limits, price bands and EV concession rules.
    India-UK Comprehensive Economic and Trade Partnership provides for phased, quota-based reduction of customs duty on passenger car imports from the UK into India over the first 15 years of implementation. Conventional-engine passenger cars are subject to specified annual quotas across engine-size categories, with duty reductions tapering to a final 10 per cent, while electric, hybrid and hydrogen passenger cars receive concessions only from the sixth year, subject to price bands and quotas. Zero-emission two-wheelers, buses and trucks are excluded from any customs duty concession commitment.
    June 18, 2026
    Show AI Summary
    Bail petitions in alleged attack on ED officials dismissed amid continuing investigation and attempted murder charges.
    Bail petitions filed by three accused in connection with the alleged attack on Enforcement Directorate officials were dismissed in proceedings arising from the CMRL money laundering probe. The accused argued that the allegations were baseless and that investigation against them had been completed, but the prosecution said investigation was still continuing. The matter relates to an alleged attack on ED and CRPF personnel after searches at the residence of the former Chief Minister, with police invoking multiple offences, including attempted murder.

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      Customs, DGFT & SEZ

      National Traders’ Welfare Board Holds 10th Meeting in Hybrid Mode, Strengthening Digital Governance and Stakeholder Participation

      June 24, 2026

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      NTWB Discusses Trade Facilitation Measures; DigiDukaan Set for Expansion Across Major Cities

      Board Focuses on Enhancing Export Competitiveness and Strengthening Stakeholder Engagement Mechanisms

      The 10th Meeting of the National Traders’ Welfare Board (NTWB) was held today in New Delhi, in hybrid mode. In line with the vision of the Government for technology-driven governance, optimum utilisation of public resources and minimisation of avoidable travel and expenditure, the meeting enabled participation of Members from across the country through both physical and virtual modes. The hybrid format ensured wider stakeholder participation and demonstrated the success of the Digital India initiative in strengthening governance through digital connectivity and citizen-centric innovation.

      The Board reviewed various trader welfare and trade facilitation initiatives being implemented across the country. Members were apprised of the recently launched Rajasthan Trade Promotion Policy, which includes provisions relating to trade credit support, insurance assistance and promotion of digital commerce. The need to strengthen awareness and outreach regarding Central and State Government schemes for traders was also emphasised.

      A detailed presentation was made on DigiDukaan, a digital commerce initiative aimed at enabling small retailers and kirana stores to participate effectively in the digital economy. The Board noted the successful launch of DigiDukaan in Jaipur on 19 June 2026 by Rajasthan Chief Minister Shri Bhajan Lal Sharma and appreciated the encouraging response received from traders. Plans for expansion to other major cities, including Mumbai and Bengaluru, followed by a nationwide rollout, were also discussed.

      The Board was informed about ongoing efforts to strengthen coordination among trade associations, chambers of commerce and trader organisations across the country and to ensure effective representation of traders’ concerns before policy-making authorities. The Chairperson informed Members that 92 nationwide weekly virtual conferences and stakeholder interactions have been conducted so far to facilitate regular engagement between traders and officials from various Ministries and Departments.

      During the deliberations, Members discussed a wide range of issues concerning traders, retailers, manufacturers, exporters and service providers. Key issues included GST rationalisation, simplification of compliance procedures, one-time settlement mechanisms for legacy business liabilities, export promotion measures, logistics and port infrastructure, plant quarantine and import facilitation, digital commerce adoption, ONDC integration, access to affordable credit, banking-related issues, merchant transaction charges, pension and social security measures for traders, and support for women entrepreneurs.

      The Board also deliberated on issues relating to food safety compliance, ease of obtaining licences and registrations, strengthening of State Traders’ Welfare Boards, concerns arising from quick commerce platforms, promotion of local trade ecosystems, simplification of appellate and dispute resolution mechanisms, facilitation of MSME and service exports, and improved Centre-State coordination for effective implementation of trader welfare initiatives.

      Special emphasis was laid on enhancing export participation by traders and MSMEs, increasing awareness regarding export opportunities, strengthening institutional support mechanisms and promoting India’s emergence as a globally competitive trading nation.

      The Board further discussed the need for thematic committees and focused working groups to examine sector-specific issues and provide structured recommendations for policy intervention. Members agreed that continued engagement with stakeholders across sectors and regions would strengthen the effectiveness of the Board’s initiatives and facilitate timely resolution of issues affecting the trading community.

      The meeting was chaired by Chairperson of NTWB Shri Sunil J. Singhi.

      At the outset, the Board adopted a Resolution congratulating  Prime Minister Shri Narendra Modi on becoming the longest-serving elected Prime Minister in India’s history. The Resolution acknowledged his continuous service of over twelve years as Head of Government and recognised his contribution towards good governance, inclusive development, economic reforms, national security and the vision of Viksit Bharat. The Board expressed confidence that under his leadership, India will continue its journey towards becoming a self-reliant, prosperous and developed nation.

      Addressing the meeting, Chairperson Shri Sunil J. Singhi highlighted the transformative reforms undertaken during the past decade, including GST reforms, digital governance initiatives, financial inclusion through the JAM (Jan Dhan-Aadhaar-Mobile) Trinity, Direct Benefit Transfer (DBT), Ease of Doing Business measures, and initiatives aimed at empowering small businesses, traders and entrepreneurs. He noted that these reforms have significantly strengthened India’s economic ecosystem and expanded opportunities for trade and enterprise.

      The meeting concluded with a reaffirmation of the Board’s commitment to creating an enabling environment for traders through policy advocacy, digital empowerment, Ease of Doing Business reforms, social security initiatives and stronger Centre-State coordination. The Board reiterated its resolve to work towards the welfare and empowerment of traders and their employees and to contribute actively to the vision of Viksit Bharat 2047.

      The meeting was attended by non-official Members representing trade associations and States/UTs from across the country, along with ex-officio Members from various Ministries and Departments of the Government of India.

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