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    Rupee rises 19 paise to 95.16 against US dollar in early trade
    RBI tells Par panel that virtual digital assets like cryptocurrency a threat to economy
    From first arrival in 1790 to present - diaspora group traces Indian-American journey
    Meghalaya recorded 32 crore digital transactions in 2025-26: Official
    ED attaches Rs 58-crore assets of wife of Bhushan Steel's ex-promoter
    Power tariffs to remain unchanged in UP for 7th straight year: Govt
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    Himachal's first-ever export shipment of cherries and plums reaches Oman
    Govt fast-tracks disinvestment process to shore up revenues, garners 31 pc of budget aim in Q1 FY27
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    MPEDA Concludes Second National Skill Olympiad on Seafood Value Addition at Seafood Expo Bharat 2026
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July 3, 2026
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Rupee pressure persists despite weaker dollar and crude, as import demand and reserve rebuilding limit gains.
The rupee appreciated in early interbank trade as the dollar index eased from recent highs and Brent crude traded lower, but the currency remained under pressure from sustained dollar demand by importers and corporate hedgers. Foreign exchange commentary also indicated that the Reserve Bank of India was focused on rebuilding forex reserves, leaving less room for the rupee to strengthen freely even when external conditions were supportive. Foreign investors continued net selling in Indian equities amid global risk aversion and higher US bond yields.
July 2, 2026
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Virtual digital assets face regulatory resistance as the central bank warns of illegal use, tracking challenges, and economy-wide risks.
Virtual digital assets, including cryptocurrency, were described as posing risks to an emerging economy because of potential misuse for illegal activity, difficulty in tracking offshore entities, and broader regulatory challenges. The Reserve Bank of India stated that such assets should not be legalised in India at this stage. The Institute of Chartered Accountants of India supported a comprehensive VDA law and proposed guidance on recognition, measurement, presentation, disclosure, financial reporting, and compliance frameworks.
July 2, 2026
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Indian-American diaspora contributions are traced through a curated history spanning migration, science, politics, business, and culture.
Indian-American diaspora history and contributions are traced through a curated project covering 250 defining moments across 15 categories of American life. The selection is described as research-based and externally reviewed, but not comprehensive. It highlights milestones in migration, citizenship, medicine, politics, corporate leadership, entrepreneurship, yoga, science, and cuisine, illustrating the community's growing influence in the American story.
July 2, 2026
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Digital financial inclusion in Meghalaya expands through Jan Dhan accounts, digital transactions, and a stronger focus on cyber resilience.
Digital financial inclusion in Meghalaya expanded through the JAM framework, Direct Benefit Transfer and Digital Public Infrastructure, with 32.76 crore digital transactions during 2025-26 and nearly 10 lakh Jan Dhan accounts. Officials said about 98 per cent of account holders had adopted at least one digital mode of transaction, and the next phase should focus on financial literacy, cyber resilience and meaningful use of digital financial services, particularly in rural areas.
July 2, 2026
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Money laundering attachment of assets linked to alleged fund diversion, off-books sales and bogus capital gains entries
Attachment of assets under the Prevention of Money Laundering Act in a money laundering case linked to alleged diversion of funds from Bhushan Steel Ltd. The Enforcement Directorate attached land, part of a residential property, equity shares and bank balances standing in the name of Ritu Singal, wife of former promoter Neeraj Singal, through a provisional order valuing the properties at more than Rs 58 crore. The action arose from allegations that funds were diverted under the guise of genuine transactions and that cash generated from the off-the-books sale of zinc ingots was routed into accommodation entries and unaccounted bank deposits.
July 2, 2026
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Electricity tariffs remain unchanged in Uttar Pradesh as subsidy support grows and EV charging gets lower solar-hour rates.
Electricity tariffs in Uttar Pradesh are to remain unchanged across consumer categories for the seventh consecutive year for 2026-27, with a higher tariff subsidy supporting lifeline consumers, rural and urban poor families, private tube well operators and rural metered consumers. Although a regulatory gap was identified, no tariff hike was recommended in view of regulatory surplus and improved financial management. The tariff order also retains the green energy additional tariff and introduces provisions for battery swapping stations, Battery as a Service providers and a lower tariff for EV charging stations during solar hours.
July 2, 2026
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Anti-corruption enforcement strengthens vigilance courts, district police stations and witness support under transparency, technology and trust.
Strict anti-corruption enforcement will be applied against ministers, MLAs and officials found involved in corruption, with a zero-tolerance approach and action by vigilance and economic offences agencies. The state will strengthen corruption control through Transparency, Technology and Trust, establish Special Vigilance Courts, Vigilance Police Stations and Vigilance Outposts, provide transport allowance to witnesses, and promote anti-corruption awareness in schools.
July 2, 2026
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Export quality standards support Himachal Pradesh's first cherry and plum shipment reaching Oman, widening horticulture market access.
Himachal Pradesh's first export consignment of fresh cherries and plums has reached Oman, marking an initial international market entry for the state's horticulture produce. APEDA's regional office ensured compliance with international quality, grading, packaging and phytosanitary standards, while coordinating farmers, farmer producer organisations, cooperatives, exporters, HPMC, state departments and logistics partners. The development is presented as a step toward better returns for farmers and wider market access for horticulturists.
July 2, 2026
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Disinvestment and asset monetisation accelerate as the government boosts non-tax revenues and advances major divestment plans.
The government has accelerated disinvestment and asset monetisation to augment non-tax revenues amid fiscal pressure, raising about 31 per cent of its full-year target in the first quarter through offer for sale transactions and Infrastructure Investment Trust-based monetisation. It plans to strengthen the divestment pipeline further, with Life Insurance Corporation and IDBI Bank identified as major prospective transactions under the miscellaneous capital receipts framework.
July 2, 2026
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Cross-border remittance payments gain near real-time speed as Swift's retail framework enables faster, more transparent transfers to India.
Cross-border remittance payments to India are being processed through Swift's new retail payments framework with near real-time credit, end-to-end transparency, upfront cost certainty and no hidden foreign exchange deductions. Standard Chartered announced that it processed the first transaction under the scheme, completing the payment end-to-end in 37 seconds and demonstrating that participating banks can send money to India through Swift rails with settlement speed approaching domestic payment systems.
July 2, 2026
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Data sovereignty drives the launch of a sovereign cloud platform with built-in compliance, Indian jurisdiction and automated deployment.
Swaraj Cloud is launched as an AI-autonomous sovereign cloud platform built and operated entirely in India, with servers, storage, networks and workload processing designed to remain under Indian ownership and Indian legal jurisdiction. It is presented as addressing data sovereignty and residency obligations under the DPDP Act, MeitY cloud requirements and RBI cloud guidelines by embedding sovereignty at the infrastructure level. The platform also includes a Prompt-to-Production Solution Generator, compliance mapping, Indian Rupee billing, automated deployment and a broad stack of cloud, AI, security and compliance services.
July 2, 2026
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Global competitiveness of the AYUSH sector gains focus through quality assurance, branding, exports and international collaboration.
Government-industry stakeholders reviewed strategies to strengthen the global competitiveness of the AYUSH sector through innovation, quality assurance, branding, exports and international collaboration. The discussions covered export facilitation, scientific validation, WHO-GMP compliance, the Ayush Quality Mark, regulatory and market access challenges, and the need to expand global recognition for Indian AYUSH products and services. The session emphasised capacity building, international outreach, and alignment of Indian standards with international benchmarks.
July 2, 2026
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Seafood value addition skills gain focus as MPEDA promotes training, quality assurance and export-oriented processing excellence.
MPEDA organised the second National Skill Olympiad on seafood value addition at Seafood Expo Bharat 2026 to promote export-oriented seafood processing skills. The initiative followed 50 training programmes across the east and west coasts, where more than 2,500 workers and professionals were trained in preparing products demanded in international markets. Finalists were assessed on technical skill, hygiene, precision, presentation and product quality, alongside live demonstrations and tasting sessions of value-added seafood products.
July 2, 2026
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Mandatory Ship-to GSTIN and voluntary e-Way Bill closure reshape GST compliance, API validations, and delivery recording from August 2026.
Mandatory capture of Ship-to GSTIN is introduced for Bill-to/Ship-to and combination transactions in e-Way Bill and related e-invoice flows from 1 August 2026, with URP permitted where GSTIN is unavailable. The Ship-to GSTIN is captured only in the backend for verification and audit purposes and is not printed or shared through taxpayer-facing APIs. A voluntary e-Way Bill closure facility is also introduced, allowing closure after delivery by the supplier, recipient, transporter, driver or authorised person, through portal or API, with post-closure actions continuing during the initial stabilisation period.
July 2, 2026
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GST revenue collections show higher gross and net inflows, with domestic growth, import gains, and refund adjustments detailed.
Gross and net GST revenue collections for June 2026 were reported with a breakup of domestic revenue, import revenue, refunds, and net revenue. Gross GST revenue rose on a monthly and yearly basis, driven by higher domestic collections and stronger import-side IGST collections, while refunds were separately shown for domestic supplies and export-related refunds through ICEGATE. Net GST revenue was also presented after deducting refunds, and the figures were noted as provisional and subject to finalisation.
July 2, 2026
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Aggregate Annual Turnover amendment window revised on the GST Portal for FY 2025-26 with officer review timelines updated.
Aggregate Annual Turnover (AATO) functionality on the GST Portal is being upgraded to enable automatic updation of AATO as subsequent returns are filed after the amendment window. For FY 2025-26, taxpayers may submit AATO amendment applications from 1 July to 31 July 2026, and jurisdictional Tax Officers will review amended details from 1 August to 15 August 2026. The revised arrangement is intended to improve consistency, accuracy, and uniformity in AATO reporting.
July 2, 2026
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AI-generated precedents and judicial integrity: Supreme Court warns against hallucinated citations and demands human oversight in adjudication.
The Supreme Court stressed zero tolerance against citing, producing, or relying on fake, non-existent, or hallucinated precedents generated through artificial intelligence, and held that such material contaminates adjudication and undermines the sanctity of judicial decision-making. It said counsel commit misconduct by citing unverified AI-generated judgments, and that a judge's reliance on hallucinated material is an equally serious lapse. The Court also called for accountability measures and human oversight in the legitimate use of AI as an aid to adjudication.
July 2, 2026
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Money laundering probe over alleged CMRL-Exalogic transactions expands under PMLA amid payments without services and loan defaults.
Enforcement Directorate questioned the executive director of Cochin Minerals and Rutile Ltd. in a money laundering probe concerning alleged financial transactions between the company and Exalogic Solutions Pvt Ltd. The investigation concerns allegations that CMRL made payments without receiving corresponding services, and that related loan transactions were defaulted, forming the basis for examination of possible proceeds of crime under the Prevention of Money Laundering Act. The case was registered on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
July 2, 2026
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Aadhaar update drive for students continues as education department says benefits and admissions will not be
Students in Maharashtra with non-updated Aadhaar records are being covered under an ongoing school-level registration and authentication drive, and the education department has stated that no student is to be deprived of government scheme benefits or educational opportunities because of pending Aadhaar updates. The minister said that around 5.5 lakh students up to 18 years of age had pending Aadhaar updates as of May 2026, but denied that this was affecting school admissions, scholarships, DBT access, examination forms or bank account linking.
July 2, 2026
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Competition approval for consortium acquisition of Royal Challengers Sports and its cricket franchise operations
The Competition Commission of India approved the acquisition of 100% shareholding of Royal Challengers Sports Private Limited by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II and other investors. The combination involved collective acquisition by the identified acquirers, including newly incorporated investment and sports-related vehicles, and the target's business consists of owning and operating the Royal Challengers Bengaluru franchise and related professional cricket teams.

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New Handbook In-House Matters Maps the General Counsel's Rise to Business Leadership as India Builds Legal Capability Centres

July 27, 2026

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Mumbai, Maharashtra, India (NewsVoir) In-House Matters: A Complete Handbook for the Modern General Counsel, published this month by OakBridge Publishing, tells the story of how the corporate legal department in India became a seat of business decision-making, and of what the job now demands of the people who hold it.

The book is written by Pramod Rao, formerly Group General Counsel at ICICI and Citi South Asia and later an Executive Director at the Securities and Exchange Board of India, and by Ritvik Lukose and Balanand Menon, who have spent more than fifteen years advising corporate legal departments on talent, technology, and workflow through Vahura and Counselect.

The rise the book describes tracks the transformation of Indian business itself. Liberalisation brought the multinationals, and with them a compliance burden no external firm could carry at the pace required. The regulatory landscape thickened around competition law, data protection, insolvency, and capital markets. Cut to today, when global corporations are building legal capability centres in India, artificial intelligence is touching every part of the work, and boards are treating the General Counsel as the person who holds commercial ambition, regulatory exposure, and reputational risk in view at once.

In-House Matters draws on interviews with thirty General Counsel at multinationals, Indian conglomerates, and fast-scaling start-ups, and on the authors' own experience on either side of the function. Across ten chapters, working through frameworks, case studies, and war stories, it moves from a lawyer's first hundred days in the role through team building, contracts, disputes, crisis, budgets, and technology, to the point at which a General Counsel earns a seat at the table.

Rao says: “Today, the General Counsel is in the room while the big calls are still live: an acquisition, a new market, a risk the company is weighing up. People still turn to the GC when a crisis breaks out, but they are also expected to shape decisions. It is a little like a footballer covering the whole length of the pitch: dropping back to defend your own goal one moment, getting forward to help score the next. We intend for the book to cover the whole range of this role.” Lukose adds: “The evolution of the General Counsel is one of the most important business stories in India of the past three decades, and one of the least told. We have spent years working with organisations on legal talent and department restructuring, and we kept meeting exceptional in-house lawyers who underestimated their own reach. A General Counsel today is a business leader who happens to have trained in law. We wrote In-House Matters to give that role the handbook it deserves.” Alongside that story, the book is also a practical guide to how a legal department is designed and run.

Menon says: “Most of my work with General Counsel has been centred on what it takes to build a proactive legal function: how you structure a team, what to take on, what to let go. Increasingly those questions include what to hand to technology and AI. I have watched people do this well and badly, usually with nothing to guide them. In-House Matters is the map we wanted to give them – a way through the knotty questions of people, processes, and platforms.” In-House Matters launches with invitation-only evenings in Mumbai (23 July), Bengaluru (12 August), and Delhi (7 September). Each gathers around 200 board members, C-suite executives, and General Counsel, and pairs a panel discussion with the three authors on the opportunities and challenges of the in-house role today with an extended hour of conversation.

In-House Matters has drawn praise from some of India's most distinguished corporate, regulatory, and academic voices.

“For every company builder.” - Nandan Nilekani, Co-founder and Chairman, Infosys; Founding Chairman, UIDAI (Aadhaar) “At its heart, this is a book about leadership, institution-building, and the evolving role of the General Counsel in shaping both.” - Amitabh Kant, Former G20 Sherpa, Government of India; Former CEO, NITI Aayog “Authoritative and lucid.” - K.V. Kamath, Chairman, Jio Financial Services; Founding President, New Development Bank (BRICS Bank) “A no-nonsense, jargon-free playbook for the modern General Counsel.” - Justice B.N. Srikrishna, Former Judge of the Supreme Court of India “The first book I've seen that really gives the role the seriousness it deserves.” - Keki Mistry, Interim Chairman, HDFC Bank; Former Vice Chairman & CEO, HDFC Ltd “An insightful guide to the General Counsel's journey from compliance guardian to business strategist.” - U.K. Sinha, Former Chairman, SEBI “A book about a role that opens paths for a new generation of leaders, women prominent among them.” - Anita George, CEO, ProsperETE; Independent Director, Tata Sons “A compelling case for the General Counsel as the linchpin of the corporate management framework.” - Umakanth Varottil, Professor of Corporate Law, National University of Singapore (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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