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    Indian money in Swiss banks dips to CHF 3.25 bn; customer deposits up
    Bharat Buildcon 2026 Inaugurated Under the Theme ‘One Nation, One Expo’
    Rahul Gandhi only hugs people of same caste, alleges CPI(M) leader Balan
    India-UK social security pact to benefit 90-95 pc of Indian professionals working in Britain
    OFCD case: SC agrees to hear SEBI's plea against SAT relief to SICCL managers
    Gold imports drop 70 pc to 30 tonnes after duty hike: Official
    ED carries out searches across Kerala in organ donation racket money laundering probe
    India and the United Kingdom Unleash a Next Generation Economic Corridor: Comprehensive Economic and Trade Agreement (CETA) and Agreement on Social Se...
    Modi, Trump direct officials to fast-track 'commercially meaningful' trade Pact
    President Lula warns Trump not to meddle in Brazil's elections
    India to allow reduced-duty import of 3.78 lakh UK cars in first 15 years of trade pact
    NSE Files for Rs 30,000-cr IPO; set to become India's biggest-ever public issue
    India-UK trade pact: 5-yr exemption from social security payments to benefit 75,000 Indian professionals
    India-UK trade pact: 85 pc of India's exports out of British steel measures
    India-UK trade pact to come into force from July 15
    SKM warns Centre against India-US FTA, calls for nationwide protests if pact signed
    India-UK trade deal to come into effect on July 15: PM Modi and PM Starmer
    Navi Mumbai Airport to launch international operations on July 15
    ED questions Vijayan’s daughter Veena for over nine hours in CMRL money laundering case
    India-UK free trade pact to come into force on July 15
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    June 18, 2026
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    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.
    June 18, 2026
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    Free Trade Agreements support Indian industry as Bharat Buildcon 2026 showcases construction sector collaboration and global market access.
    Bharat Buildcon 2026 was inaugurated as an industry exhibition for the building materials and construction sector under the theme "One Nation, One Expo". The event brought together participants from more than 90 countries and over 100 Indian cities for industry interaction and business engagement. The Minister highlighted the role of Free Trade Agreements in expanding opportunities for Indian industry, including expected market access and stronger trade relations under the India-UK Comprehensive Economic and Trade Agreement.
    June 18, 2026
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    Money laundering probe over alleged sham payments and loans, with proceedings under the Prevention of Money Laundering Act.
    The Enforcement Directorate's money-laundering investigation concerns alleged transactions between Cochin Minerals and Rutile Ltd., Exalogic, and associated entities, including payments said to have been made without corresponding services and loans allegedly extended despite non-repayment. The agency alleges that these transactions generated proceeds of crime and has registered a case under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    June 18, 2026
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    Social security exemption for temporary India-UK assignees will cut duplicate contributions and support skilled worker mobility.
    The India-UK Double Contribution Convention will exempt employees temporarily transferred between the two countries from host-country social security contributions for up to five years, subject to a certificate of coverage. The arrangement is reciprocal for eligible UK nationals working in India and is intended to preserve home-country social security coverage during temporary overseas assignments while reducing duplicate contribution burdens on workers and employers.
    June 18, 2026
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    Public offer classification of OFCD issuances and employee liability remain under challenge before the Supreme Court.
    Securities law issues concerning the issuance of optionally fully convertible debentures (OFCDs) by Sahara India Commercial Corporation Ltd. are under challenge, with SEBI contesting a part of the Securities Appellate Tribunal's relief granted to four managers and the company secretary. The tribunal had treated the OFCD issuances as a public offer within SEBI's regulatory jurisdiction, while also distinguishing the position of employees from that of the directors who had authorised the prospectus and remained responsible as principals for acts done through their agent. SEBI has now challenged this limited relief before the Supreme Court.
    June 18, 2026
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    Gold import duty hike drives sharp fall in volumes as foreign exchange conservation becomes policy priority.
    Gold imports in India declined sharply in volume terms after the customs duty on gold and silver was raised from 6 per cent to 15 per cent. Imports reportedly fell to about 25-30 tonnes in a month from earlier levels of 75-100 tonnes, while higher global prices kept import values elevated. The duty increase is presented as part of a broader policy response aimed at curbing gold purchases and conserving foreign exchange for essential imports.
    June 18, 2026
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    Money laundering probe over forged organ donation racket focuses on intermediaries, hospital transactions, and verification bypasses.
    Enforcement Directorate searches were conducted at hospitals and residences across Kerala in a money laundering probe linked to an alleged racket facilitating illegal organ donations through forged documents. The investigation was based on multiple police FIRs, with preliminary material indicating that intermediaries arranged donations between donors, recipients and hospitals for substantial sums. Investigators were examining bank transactions and medical records connected with the alleged organ donation arrangements. Police enquiries also indicate that the accused forged hospital letterheads, police clearance certificates and recommendation letters to bypass verification and clearance requirements.
    June 18, 2026
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    Trade and social security framework expands duty-free access, services mobility, and temporary worker contribution relief.
    India and the United Kingdom will bring CETA and the Agreement on Social Security into force on 15 July 2026, creating a broad trade and mobility framework covering goods, services, digital trade, telecommunications, financial services, intellectual property, government procurement, innovation, SMEs, sustainability and transparency. CETA provides immediate duty-free access for nearly 99% of India's exports to the UK, expands services market access across 137 sub-sectors, and preserves protection for sensitive Indian sectors. The Social Security Agreement exempts temporary workers from dual contributions and extends the exemption period from 3 years to 5 years.
    June 18, 2026
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    Trade agreement talks advance as India and the United States push for a balanced, commercially meaningful pact.
    Trade negotiations between India and the United States were advanced through a directive by the two leaders to their officials to work towards a balanced, mutually beneficial and commercially meaningful interim bilateral trade agreement at the earliest. The talks were described as having made significant progress, with further negotiations already underway and a visiting trade representative expected to take them forward. Both sides also reaffirmed commitment to strengthen the India-US Comprehensive Global Strategic Partnership and expand cooperation across defence, strategic technologies, energy and bilateral trade.
    June 18, 2026
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    Foreign interference in elections fuels Brazil-US tensions amid tariff disputes, sanctions, and criticism of drug-cartel designations.
    Brazilian President Luiz Inacio Lula da Silva warned against foreign interference in Brazil's October presidential election after remarks by the US President and renewed criticism linked to judicial action involving Lula's political rivals. The dispute reflects escalating tensions between Brazil and the United States over Brazil's domestic politics, including US sanctions against a Brazilian Supreme Court Justice and public comments about the Bolsonaro family. The article also notes proposed additional tariffs on Brazilian imports and Lula's criticism of the US designation of two Brazilian drug-trafficking groups as foreign terrorist organizations.
    June 18, 2026
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    Phased customs duty cuts and quota limits govern UK passenger car imports under the India-UK trade pact.
    India-UK trade pact provides phased reduction of customs duty on passenger vehicle imports from the UK, with quota-based access across specified engine-capacity and price bands. Conventional-engine passenger cars receive concessional treatment over 15 years, while electric, hybrid and hydrogen passenger cars are covered only from later years under limited quotas and reduced duties. Vehicles priced below GBP 40,000 CIF are excluded from market opening, and zero-emission two-wheelers, buses and trucks are excluded from any preferential customs duty concession.
    June 17, 2026
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    Offer for sale structure drives National Stock Exchange's long-delayed public listing filing after regulatory hurdles ease.
    National Stock Exchange filed preliminary papers for a proposed initial public offering structured entirely as an offer for sale by existing shareholders. The filing follows board approval and a no-objection certificate, after years of delay caused by regulatory concerns, including the co-location controversy and governance lapses. The exchange later made further compliance representations, appointed merchant bankers and other advisers, and pursued settlement in the unfair market access matter, with in-principle approval of that settlement described as removing a key obstacle to the proposed listing.
    June 17, 2026
    Show AI Summary
    Social security exemption for Indian workers in the UK extends to five years under the trade pact.
    Social security arrangements under the India-UK trade pact provide a temporary exemption from dual social security contributions for Indian workers and employers in the United Kingdom during overseas assignments. The exemption period is extended from three years to five years, applying to employees seconded from India to support UK operations. The arrangement is intended to preserve continued social security coverage during temporary postings and to facilitate labour mobility between the two countries.
    June 17, 2026
    Show AI Summary
    Steel trade safeguards shape India-UK CETA implementation as quota limits and tariff rules are adjusted for exporters.
    India-UK CETA is set to enter into force from 15 July 2026, with steel trade arrangements designed to keep a substantial share of India's exports outside the UK's safeguard measures. India's interests are said to be protected through country-specific quota, residual quota and access under the Authorised Use Scheme, while the UK's new steel regime will limit tariff-free imports, reduce quota volumes and impose a higher tariff on imports above the permitted levels. The article also notes the UK's planned carbon border adjustment mechanism from 2027.
    June 17, 2026
    Show AI Summary
    India-UK free trade pact expands duty-free market access and extends social security relief for temporary workers.
    India and the United Kingdom will bring into force the free trade agreement and the Agreement on Social Security, or Double Contribution Convention, on 15 July 2026 after completing internal procedures and ratifications. The pact is said to provide immediate duty-free access for 99 per cent of Indian exports, tariff reductions on selected British goods, and broader market access for services, while preserving exclusion lists for sensitive sectors. The Double Contribution Convention will exempt Indian companies in the UK from social security contributions for up to five years for employees sent from India.
    June 17, 2026
    Show AI Summary
    Minimum Support Price guarantee and trade pact opposition drive a nationwide farmers' protest campaign.
    Opposition to the proposed India-US Free Trade Agreement centred on demands for a legal guarantee of Minimum Support Price at C2 plus 50 per cent with assured procurement, repeal of free trade agreements, and a comprehensive farm loan waiver. The campaign also included planned nationwide protest action, protest forms to be by state bodies, and related demands on rural employment, wages, water rights and other local agitations.
    June 17, 2026
    Show AI Summary
    Trade liberalisation and tariff cuts under the India-UK economic pact are set to begin on 15 July 2026.
    The India-UK Comprehensive Economic and Trade Agreement is scheduled to enter into force on 15 July 2026, initiating a framework for deeper bilateral trade, investment and market access. The agreement is described as providing substantial tariff liberalisation across goods and services, including staged reductions or elimination of duties on selected products, and reciprocal social security coordination for highly skilled professionals on pre-existing visa routes.
    June 17, 2026
    Show AI Summary
    International passenger and freighter operations set to begin at Navi Mumbai airport as customs readiness nears completion.
    Navi Mumbai International Airport is expected to commence international passenger flights and international freighter operations from July 15, with Air India Express and IndiGo reported as the initial operators. Customs readiness for international operations was nearing completion, including relevant notifications and trial procedures for courier and cargo systems, with a further trade notice anticipated. The operator also said cargo would follow a hub-and-spoke model and that planning had begun for the next phase of terminal expansion.
    June 17, 2026
    Show AI Summary
    Money laundering probe over alleged sham payments and loans draws ED questioning in transactions linked to proceeds of crime.
    Enforcement Directorate questioning in a money laundering probe concerned alleged transactions between a now-defunct IT firm and a mining company, including payments said to have been made without corresponding services and loans allegedly extended despite delayed repayment. The agency alleged that these dealings generated proceeds of crime and summoned relevant documents relating to the firm's transactions. The investigation was registered under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    June 17, 2026
    Show AI Summary
    India-UK free trade pact and social security convention set to take effect together from 15 July 2026.
    The India-UK Comprehensive Economic and Trade Agreement (CETA) is scheduled to enter into force on 15 July 2026, marking the commencement of the bilateral free trade pact. The Agreement on Social Security, also described as the Double Contribution Convention (DCC), will take effect on the same date.

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      Customs & Trade

      Quadrasystems.net Among the First in India to Achieve ISO/IEC 42001:2023, the World's First International Standard for AI Management Systems

      June 29, 2026

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      Certification, audited by TÜV SÜD, places the Coimbatore-headquartered firm's AI practice in an elite group of organisations worldwide to meet the standard
      COIMBATORE, India, June 29, 2026 /PRNewswire/ -- Quadrasystems.net India Private Limited today announced that its AI practice has achieved ISO/IEC 42001:2023 certification, the world's first international standard for Artificial Intelligence Management Systems, following a successful audit by TÜV SÜD. A small number of organisations worldwide hold this certification; Quadrasystems.net is among the first in India.




      ISO/IEC 42001:2023 establishes auditable requirements for how organisations govern AI across its full lifecycle — risk management, accountability structures, data practices, deployment controls, and incident response. Certification requires an independent external audit; organisations cannot self-attest.


      The certification arrives as enterprises face mounting pressure to demonstrate AI governance. Boards increasingly require assurance before AI systems touch revenue, customer data, or regulated operations. Procurement and vendor-risk teams in banking, pharmaceutical, and healthcare sectors have begun assessing AI governance as part of vendor due diligence. AI regulation across major markets, including the European Union's AI Act, is converging on management-system requirements that ISO/IEC 42001 directly addresses.


      For Quadra's clients, the certification provides an independently verified answer to those demands. Organisations deploying AI systems built and governed by a certified practice inherit a documented, externally audited governance framework, reducing their own compliance and vendor-risk burden.


      "Quadra's proactive engagement in scoping, rapid prototyping, and iterative alignment significantly accelerated validation and progress across key use cases. Beyond just delivering the solution, the team also played a pivotal role in helping us define DevOps practices for Copilot and supported our internal teams in understanding and resolving copilot related queries.


      Additionally, Quadra's ISO/IEC 42001:2023 certification reflects the level of rigor, discipline, and best practices that were clearly evident throughout the engagement." - Visharg Shah, Senior Specialist - Data Science, Asian Paints Limited
      The certification scope covers Quadra's AI practice, which designs and deploys production-grade AI systems for clients across banking, manufacturing, healthcare, and pharmaceutical sectors.


      Prashanth Subramanian, Co-Founder and Director, Quadrasystems.net India Private Limited, said, "For our clients deploying AI in regulated industries, ISO/IEC 42001:2023 certification is a due-diligence answer. When a board or a regulator asks how their AI vendor is governed, our clients now hold an independently audited response."
      Quadrasystems.net already holds ISO 9001 (quality management) and ISO 27001 (information security management) certifications. ISO/IEC 42001:2023 extends the organisation's independently audited governance framework to its AI practice. All three certifications are issued by TÜV SÜD.


      About Quadra Quadra, a global award-winning cloud and AI solutions provider, architects the Intelligent Enterprise for India's most ambitious businesses. We empower leaders to confidently navigate technological complexity, translating cloud and AI innovation into a decisive competitive edge. For 25 years, our partners' trust has been built on a foundation of deep expertise, validated by 750+ professional certifications and premier tier partnerships with AWS, Microsoft, Google and other leading industry players. This has enabled over 3,000 enterprises to modernize their operations, secure their future, and lead with confidence.


      Photo: https://mma.prnewswire.com/media/3001055/Quadra_ISO.jpg' alt='Embedded Media' />
      (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.) PTI PWR

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