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    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
    Indian money in Swiss banks dips to CHF 3.25 bn; customer deposits up
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    June 19, 2026
    Show AI Summary
    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
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    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
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    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
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    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
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    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.
    June 18, 2026
    Show AI Summary
    Swiss bank deposits by Indian clients fell overall, while individual customer accounts and tax information exchange continued to expand.
    Swiss National Bank data showed that Indian money in Swiss banks fell in 2025 to CHF 3.25 billion, with the decline driven mainly by funds held through local branches and other financial institutions. Customer deposits rose to CHF 524 million, while amounts due to banks remained the largest component at CHF 2.6 billion. Separate locational banking statistics showed an increase in deposits by Indian individuals to USD 89.73 million. The article also notes the automatic exchange of information in tax matters between Switzerland and India since 2018.

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      Customs & Trade

      Amazon CEO meets PM Modi; co adds USD 13 bn to 5-yr mega investment plan for AI, cloud infra

      June 25, 2026

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      New Delhi, Jun 25 (PTI) Amazon will invest an additional USD 13 billion in India, taking its planned capital commitment in the country to USD 48 billion between 2026 and 2030, Chief Executive Officer Andy Jassy said on Thursday after meeting Prime Minister Narendra Modi.

      The fresh investment underscores Amazon's long-term commitment to India, which Jassy described as one of the company's most important growth markets globally.

      He said Amazon's India business is seeing strong momentum, driven by robust customer demand across e-commerce and Amazon Web Services (AWS), its cloud-computing division.

      The announcement comes as global technology firms step up investments in India, attracted by the country's expanding digital economy, growing consumer base and rising demand for cloud and AI services.

      Amazon has invested heavily in India over the past decade, building out logistics networks, technology infrastructure and digital services as it seeks to deepen its presence in one of the world's fastest-growing major economies.

      Jassy affirmed Amazon's long-term commitment to the country, and said the company's India business is on a strong growth trajectory with robust customer demand, especially in e-commerce and Amazon Web Services, its cloud computing unit.

      He also highlighted the growing importance of India, a market where Amazon operates several businesses, including e-commerce, AI, cloud, and entertainment.

      "A great meeting with Mr. Andy Jassy. I welcome Amazon's record USD 48 billion investment in India. This will create new opportunities for our youth," Prime Minister Modi said in a post on X.

      This also reflects the growing interest across the world to invest in India, he said.

      Sharing a photo from his meeting with the Prime Minister, Jassy, in a post on X, said he really enjoyed the discussion about what’s ahead for Amazon in India.

      "We’ve been serving customers, sellers, developers, startups, and enterprises in India for more than a decade and just getting started...Excited about what's ahead. Still early days for what we can build," Jassy said.

      The Amazon top boss discussed the company's plans to invest USD 48 billion over the coming five years, including more than USD 21 billion in AI and cloud infrastructure.

      By 2030, Amazon plans to support 3.8 million jobs, enable USD 80 billion in e-commerce exports, and bring the benefits of AI to 15 million small businesses and four million government school students, Amazon's top executive said.

      The company, in a statement, said that during his meeting with the PM, Jassy reiterated Amazon's long-term commitment to India and announced plans to invest an additional USD 13 billion to expand AI and cloud infrastructure in the country by 2030.

      The latest investment pledge positions Amazon as one of the largest global AI and cloud infrastructure investors in India, the US-headquartered e-commerce giant added.

      "The investment will expand AWS data centre capacity in Mumbai and Hyderabad, giving startups, enterprises and government organisations access to custom AI chips, managed AI services, secure and reliable cloud technologies and developer tools to innovate faster, scale rapidly, and serve customers globally," according to Amazon.

      With this, Amazon's cumulative investments in India exceed USD 88 billion between 2010 and 2030. Just six months back, Amazon had announced USD 35 billion in new India investments.

      "The latest investment makes Amazon one of the largest global AI and cloud infrastructure investors in India, in addition to being the largest foreign investor in India, the largest enabler of ecommerce exports and one of the biggest job creators in the country," Amazon said.

      The company plans to launch more than 20 new fulfilment centres and over 100 new last-mile delivery stations this year, bringing faster and reliable deliveries to customers nationwide, especially in tier 3 and 4 cities, the statement said.

      Amazon has also announced 'Sammaan', a programme focused on the welfare of tens of thousands of delivery associates powering its e-commerce and quick commerce network.

      Since its launch in India, Amazon has digitised 12 million small businesses, enabled over USD 20 billion in cumulative e-commerce exports, and supported 2.8 million jobs. Amazon has also trained over 10 million Indians on cloud skills.

      "Through 2030, the company plans to invest a total of USD 48 billion to expand and support its businesses in India. In line with the government priorities, Amazon will continue its strong focus on AI-led digitisation, export growth, and job creation," according to the statement.

      The Amazon top honcho said the company has seen strong growth in India, especially across e-commerce, AI, and cloud businesses.

      "As we grow Amazon in India, our business priorities continue to align with India’s priorities of democratising access to AI, digitising small businesses, creating jobs, and enabling exports. We are investing over USD 48 billion in the coming five years to meet the strong demand across our business in India and to help the country achieve these priorities," Jassy said.

      "We are inspired by Prime Minister Modi’s vision of a Viksit and Atmanirbhar Bharat, and we are committed to being a long-term partner in India’s growth story." On the expanded investment pool, the company said the fresh investment commitment will help expand and support AI and cloud infrastructure across the two regions in Mumbai and Hyderabad.

      "Both AWS regions enable customers to securely store their data within India and give them access to the world’s most advanced AI and cloud technology, including high-performance Trainium chips and AWS's leading inference engine Amazon Bedrock," Amazon said.

      The e-commerce giant underlined that hundreds of thousands of Indian enterprises, startups, and government agencies are already using AWS to build, train, and deploy AI workloads at production scale, including National Health Authority, Government e-Marketplace, Apollo Tyres, Delhivery, Physics Wallah, Axis Bank, and HDFC Bank.

      "From day one, AWS has built its infrastructure so customers have full control over where their data resides, who can access it, and how it's secured," the company pointed out.

      Amazon.in has over 100 million customers and more than 1.7 million sellers, it said, adding that the company is seeing 85 per cent of new customers and over 65 per cent of orders from tier 2 and 3 cities.

      In Bengaluru on Wednesday, Jassy had announced the company's plans to expand its ultra-fast delivery service, Amazon Now, to more than 300 Indian cities and to build what Amazon describes as the country's largest "delivery in minutes" network.

      Amazon Now's aggressive expansion comes at a time when India's quick commerce market has emerged as one of the fastest-growing segments of the country's digital economy, driven by rising demand for ultra-fast deliveries and changing consumer preferences. PTI MBI ANZ MBI BAL BAL BAL

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