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    India to assume Vice-Presidency of the Financial Action Task Force for the first time
    NFRA and ICAI collaborate to organise a workshop on “Creating a Better Financial Reporting Ecosystem” at Pune
    UP's exports to BRICS nations cross USD 5.36 billion during FY2025-26: Govt
    J&K's Sirajul Uloom comes under NCLT after being declared illegal
    APEDA flags off Uttarakhand's first litchi consignment to Italy
    BUSINESS HIGHLIGHTS
    Sebi restores market buybacks for firms, caps execution window at 66 days
    Jharkhand: NABARD hosts mango festival in Ranchi to boost market access for farmers
    ED case against 5 Bengaluru-based entities for 'unauthorised' cross-border crypto transactions
    Following are the top foreign stories at 2000 hours
    MPC opts for 'wait-and-watch' amid growth, inflation uncertainties: RBI minutes
    Reliance targets next growth wave through AI, satellite internet; Jio files for IPO
    Aimanthan Launches India's First Free AI Certification Platform Powered by Claude AI from Anthropic, Bridging the Nation's AI Skills Gap
    MPC Minutes: RBI Guv says need to remain watchful on generalisation of inflation
    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
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    June 20, 2026
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    Anti-money laundering leadership strengthens as India assumes FATF Vice-Presidency for the first time.
    India has assumed the Vice-Presidency of the Financial Action Task Force for the first time, with Shri Vivek Aggarwal appointed for the term July 2026 to June 2027. The Vice-President is elected by the FATF Plenary and assists the President in steering the organisation's work. The appointment places an Indian official in a key role within the global standard-setting body for anti-money laundering and counter-terrorist financing.
    June 20, 2026
    Show AI Summary
    Audit quality and financial reporting standards drive NFRA-ICAI workshop focus on professional capacity and global competitiveness.
    NFRA, in collaboration with ICAI, organised a workshop in Pune to enhance professional capacity for audit practitioners, strengthen audit quality and improve the quality of financial reporting. The programme focused on the role of the accountancy profession in safeguarding public interest and maintaining trust in financial reporting, while urging audit firms, including small and medium practitioners, to align with contemporary global standards and continuously improve competence.
    June 20, 2026
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    MSME-led trade expansion drives Uttar Pradesh's BRICS exports, with industrial support schemes linking artisans, youth and global markets.
    Uttar Pradesh reported expanding trade links with BRICS member and partner countries, with exports of machinery, garments, leather, carpets and precious stones crossing USD 5.36 billion in 2025-26. The state also highlighted the MSME sector as a driver of employment and growth, along with the One District One Product scheme, Vishwakarma Shram Samman Yojana, youth entrepreneurship support through interest-free, guarantee-free loans, and MSME parks under the PLEDGE scheme.
    June 19, 2026
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    NCLT asset takeover follows declaration of illegal entity, with property vested and encroachment warned against.
    NCLT has taken over the assets and properties of the Sirajul Uloom Welfare Foundation after it was declared an illegal entity, with all properties vested in the National Company Law Tribunal, Chandigarh. The order warns that interference with, encroachment upon, or trespass over the properties would violate the tribunal's directions and attract action under the relevant legal provisions.
    June 19, 2026
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    Fresh litchi export facilitation boosts Uttarakhand growers and opens European market access through coordinated export support.
    Facilitation of the first-ever export consignment of fresh litchis from Uttarakhand to Italy marked the State's entry into the European market. The inaugural shipment of one metric tonne of Dehradun litchi was dispatched from Dehradun, with the export covering varieties such as Rose Scented, Calcuttia and Bedana cultivated in the Dehradun, Haridwar, Nainital and Udham Singh Nagar districts. The export initiative provided a financial boost to local growers, with farmers reportedly securing prices nearly 25 per cent higher than prevailing domestic market rates.
    June 19, 2026
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    Regulatory and market updates include buyback reforms, IPO approvals, RBI caution on rates, and food safety notices.
    Employment incentives were disbursed under Pradhan Mantri Viksit Bharat Rozgar Yojana, with support extended for new jobs and the employment count under the scheme reported as having crossed 70 lakh. Sebi approved the reintroduction of share buybacks through stock exchanges, allowed open-market repurchases from August 1, and capped the execution period at 66 working days. The RBI Monetary Policy Committee maintained a wait-and-watch stance on interest rates amid uncertainty over inflation and growth. Food safety notices, forex reserve data and market updates were also reported.
    June 19, 2026
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    Share buyback framework returns through stock exchanges with tighter execution limits and simpler market access rules.
    Sebi approved the reintroduction of share buybacks through stock exchanges, allowing companies to repurchase their own shares through regular trading mechanisms without a dedicated buyback window, with the execution period capped at 66 working days. The board also eased mutual fund borrowing norms, simplified securities transmission procedures, approved a green-channel mechanism for AIFs, strengthened governance and disclosure requirements for Sebi members and employees, and cleared amendments to frameworks for SDIs and municipal debt securities.
    June 19, 2026
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    Market access for tribal farmers takes centre stage as NABARD promotes organically grown mangoes and buyer linkages.
    Market access for tribal farmers was promoted through a mango festival organised by NABARD in Ranchi, featuring naturally grown, export-quality mangoes sourced from NABARD-supported tribal farmers. The initiative was linked to NABARD's Tribal Development Fund and farmer-producer organisations, and was intended to connect farmers with premium domestic and international buyers, including exporters and food processing companies, for organically grown produce.
    June 19, 2026
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    FEMA investigation over alleged unauthorised crypto-based cross-border transfers and RBI unauthorised payment services
    Enforcement Directorate initiated a FEMA investigation against five Bengaluru-based companies alleged to have used cryptocurrency and virtual digital assets for cross-border money transfers without authorisation from the RBI. The allegations concern online advertising of instant crypto-based conversion and transfer services, including buying, selling and swapping cryptocurrency for global remittances, and search operations at multiple premises in Karnataka. The probe also refers to alleged circumvention of FEMA regulations through OTC deals, shell entities and foreign-based crypto platforms, along with restraint orders on certain bank accounts.
    June 19, 2026
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    Foreign exchange controls tighten as Sri Lanka moves to closely monitor imports and curb leakages.
    Sri Lanka is introducing a new regulatory framework to closely monitor imports in order to prevent foreign exchange leakages. The measure is directed at tighter oversight of import activity and is intended to curb outflows of foreign currency through the trade channel. The stated focus is on enhanced monitoring and compliance control over imports as part of broader foreign exchange management.
    June 19, 2026
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    Monetary policy wait-and-watch approach prevails as inflation, growth and external shock uncertainties keep rates unchanged.
    The Monetary Policy Committee maintained the benchmark policy rate and neutral stance, adopting a wait-and-watch approach amid heightened uncertainty over inflation and growth. Members cited the West Asia conflict, supply-chain disruptions, monsoon variability, and possible energy and food price pressures as factors making near-term projections unstable. The neutral stance was described as preserving operational flexibility to respond to changing macroeconomic conditions.
    June 19, 2026
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    Artificial intelligence and digital expansion drive Reliance growth plans alongside Jio Platforms' proposed public listing.
    Reliance outlined growth plans across artificial intelligence, satellite broadband, clean energy, consumer businesses and exports, while Jio Platforms filed draft papers for a fresh issue of shares as part of a proposed initial public offering. The digital business is positioned for broader 5G expansion, enterprise technology services and overseas commercialisation, while the AI venture is intended to build infrastructure, platforms and services for consumers, enterprises and governments. The group also highlighted clean-energy investments, a shift from oil-to-chemicals toward chemicals and advanced materials, and further expansion in retail and manufacturing.
    June 19, 2026
    Show AI Summary
    Free AI certification platform offers QR-verified credentials through Claude AI, making AI skill recognition faster and more accessible.
    Aimanthan is a free AI certification platform that gives Indian learners a QR-verified certificate in minutes at zero cost, using Claude AI to generate unique questions, evaluate answers contextually, and issue a score, grade and level based on demonstrated knowledge. Each certificate carries a unique certificate number and QR verification code for live authentication, and the platform also offers AI-powered courses, an AI tutor, college partnership programmes and alignment with Skill India, Digital India and the IndiaAI Mission.
    June 19, 2026
    Show AI Summary
    Inflation vigilance and a wait-and-watch monetary stance shape the policy response amid uncertainty and price pressures.
    The Monetary Policy Committee minutes record a wait-and-watch approach to monetary policy amid heightened uncertainty over inflation and growth. The Governor supported maintaining the policy rate unchanged while retaining a neutral stance, citing risks arising from conflict-related disruption, supply-chain pressures, and the impact of monsoon conditions on energy, food, and other commodity prices. The minutes also stress the need to remain watchful about the generalisation of inflation in the coming months.
    June 19, 2026
    Show AI Summary
    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
    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
    Show AI Summary
    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.

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      Customs, DGFT & SEZ

      MPEDA Concludes Second National Skill Olympiad on Seafood Value Addition at Seafood Expo Bharat 2026

      July 2, 2026

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      MPEDA Trains Over 2,500 Seafood Processing Professionals Through 50 Value Addition Programmes

      The grand finale of the second edition of the National Skill Olympiad on Seafood Value Addition was held during Seafood Expo Bharat 2026 in Kochi on Wednesday. An initiative of the Marine Products Export Development Authority (MPEDA), the Olympiad brought together ten trained seafood processing professionals, who demonstrated their culinary skills and technical expertise in preparing value-added seafood products. In a closely contested finale, P. Surya Bhaskar of Devi Fisheries Ltd., Kakinada, Andhra Pradesh, emerged as the winner.

      Muthu Kumaran of Theva & Co., Tuticorin, Tamil Nadu, secured the second position, while Ms Sagarika Sardar of SS Seafoods Pvt. Ltd., Kolkata, West Bengal, and Ms Barasarani Jena of Sabri Food Products Pvt. Ltd., Bhubaneswar, Odisha, secured the third and fourth positions, respectively.

      The winner received a cash prize of Rs 1,00,000, while the second and third prize winners received Rs 75,000 and Rs 50,000, respectively. A consolation prize of Rs 25,000 was awarded to the fourth-position holder.

      In the run-up to the event, MPEDA conducted 50 Seafood Value Addition Training Programmes across the east and west coasts of India, through which more than 2,500 seafood processing workers and professionals were trained in preparing seafood products with high demand in international markets.

      The regional rounds of the Olympiad were held in Mumbai for the West Coast Zone and Visakhapatnam for the East Coast Zone. The ten finalists were selected from among the participants in the regional rounds held on June 30.

      During the grand finale, the finalists were tasked with preparing six value-added seafood products that are in demand in international markets—Nobashi Shrimp, Breaded Butterfly Shrimp, Cooked Peeled Deveined Tail-On (PDTO) Shrimp, Marinated Shrimp Skewers, Breaded Squid Rings and Fish Fillets.

      Chairman, MPEDA, Shri P. Jawahar; Director, Dr Ram Mohan M.K.; Secretary, Dr Gibin Kumar; Joint Director, Shri Anilkumar; and Chief Guest and CEO, Seafood Exporters Association of India (SEAI), Dr K. N. Raghavan, distributed cash prizes, medals and certificates to the winners.

      The competition was evaluated by a jury comprising Senior Scientist, ICAR-CIFT, Kochi, Dr Sarika K.; Processing and Quality Assurance Supervisor, NIFPHATT, Kochi, Dr Nithin C.T.; Production Manager, Parayil Seafood Pvt. Ltd., Shri Francis Assisi; General Manager, Sandhya Aqua Exports Pvt. Ltd., Shri Jayan Jacob; and General Manager, VKM Foods, Shri Vijayakrishna. The participants were assessed on the basis of technical skill, hygiene, precision, presentation and the quality of the finished products.

      Chairman, MPEDA, Shri P. Jawahar, said the Olympiad represents an important milestone in building a resilient and globally competitive seafood sector capable of meeting the evolving expectations of international markets. He said MPEDA is making sustained efforts to strengthen quality assurance, food safety, processing excellence, workforce skilling, sustainable seafood production and reliable supply chains. He added that the Olympiad serves as an important platform for strengthening India's seafood export ecosystem.

      The event was attended by senior officials from the Central and State Governments, seafood exporters, international buyers, industry leaders, technical experts and delegates participating in Seafood Expo Bharat 2026.

      The award-winning value-added seafood products prepared by the finalists were showcased at the Skill Olympiad Pavilion, along with live demonstrations and tasting sessions featuring export-oriented seafood value-added products developed through MPEDA's training programmes. A tasting session of the products was also organised at the MPEDA Skill Olympiad Pavilion.

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