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    ED conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'
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    NICDC Organises Cross-Learning Site Visit to AURIC Smart City to Strengthen Industrial Corridor Development
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July 24, 2026
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Money-laundering investigation examines alleged bank-loan fund diversion through shell entities, accommodation entries, fake invoices and circular transactions.
A money-laundering investigation under the Prevention of Money Laundering Act concerns alleged bank-loan fraud involving Santosh Overseas Ltd., its promoters and linked entities. Searches were conducted at premises in Uttar Pradesh, Delhi and Punjab. The investigation, arising from a Central Bureau of Investigation case, alleges diversion and layering of loan funds through shell entities, accommodation-entry operators and related companies by means of purportedly fake invoices and circular financial transactions.
July 24, 2026
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Forced-labour import prohibitions shape tariff treatment as India's policy amendment secures a lower rate for imported goods.
Forced-labour import prohibitions are linked to tariff treatment under Section 301 of the Trade Act of 1974. Goods imported from India receive a lower tariff rate after India amended its foreign trade policy to prohibit imports of goods produced using forced labour. The framework excludes certain raw materials, goods causing economy-wide disruption, and products unavailable in sufficient domestic quantities. India has contested the underlying investigations and proposes that the issues be addressed through a bilateral trade agreement.
July 24, 2026
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Integrated industrial city development promotes cross-learning on digital governance, investor facilitation, infrastructure planning and plug-and-play industrial parks.
Industrial corridor development is being supported through cross-learning on AURIC Smart City's integrated planning, infrastructure and governance practices. The programme addresses master planning, utility systems, digital monitoring, land utilisation, investor facilitation, project implementation and coordination among implementing agencies. It also considers application of these practices to the Bharat Audyogik Vikas Yojana for plug-and-play industrial parks, with emphasis on integrated utilities, digital land management, investor-friendly approvals, sustainable infrastructure and multimodal connectivity.
July 24, 2026
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WTO trade policy review highlights India's commitment to transparent trade rules, development policy space and multilateral engagement.
India reaffirmed an open, transparent, predictable and WTO-consistent trade and investment regime through tariff reform, customs simplification and free trade agreement initiatives. Its trade policy was presented as balancing developmental needs with WTO principles: agricultural tariffs protect vulnerable farmers, while industrial tariffs support supply-chain resilience and domestic manufacturing. India also committed to transparent, consultative and rules-compliant sanitary measures, technical regulations and trade remedies, with investigations based on objective evidence, due process and judicial oversight, including continued application of the Lesser Duty Rule in anti-dumping matters.
July 23, 2026
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Temporary Section 122 surcharge expiry may restore MFN treatment for Indian exports, while Section 301 tariff uncertainty continues.
The US temporary Section 122 import surcharge on Indian goods is scheduled to expire unless extended or replaced, restoring affected imports to normal US MFN tariff treatment. Liability depends on entry for consumption or warehouse withdrawal. Section 232 national-security tariffs remain unchanged. Indian exports may still face fresh measures under Section 301 investigations into forced labour and excess manufacturing capacity, alongside potential country-specific or sectoral tariffs. The expiry may improve export competitiveness and market access, particularly for labour-intensive and MSME-driven sectors.
July 23, 2026
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Quantum finance innovation will advance secure digital banking through cybersecurity, fraud detection, collaborative research, workforce development and digital literacy.
A Quantum Finance Innovation Hub is proposed to apply quantum technologies to banking through stronger cybersecurity, proactive financial-fraud detection and secure digital financial ecosystems. The initiative will bring together industry, academia, startups, research organisations and government agencies to promote innovation in quantum computing, artificial intelligence and related technologies. It also focuses on workforce development, digital literacy, public confidence in digital financial services, and technology-enabled responses to cybercrime and digital-arrest scams.
July 23, 2026
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Chief executive succession plan appoints a CEO designate, subject to shareholder approval, for an AI-led corporate leadership transition.
Corporate leadership succession at Infosys is proposed through the appointment of Ashiss Kumar Dash as Managing Director and Chief Executive Officer designate from 1 April 2027. The five-year appointment is subject to shareholder approval and follows a recommendation of the Board's Nomination and Remuneration Committee. The incumbent will remain in office until the transition date and support an orderly transfer of responsibilities. The succession plan identifies the CEO designate's business, technology-delivery, client and global operations experience as relevant to AI-led transformation.
July 23, 2026
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Bullion market pressure intensified as rising oil prices, inflation concerns and restrictive monetary policy expectations weakened gold and silver sentiment.
Gold and silver prices declined amid weaker global bullion trends, profit-booking, and higher crude oil prices linked to Middle East tensions. Market commentary associated the decline with inflation concerns and expectations that major central banks may sustain restrictive monetary policy for longer. Gold was described as facing near-term pressure from higher interest-rate expectations, inflation risks, and geopolitical uncertainty.
July 23, 2026
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Quantum finance innovation will develop secure, AI-enabled banking solutions through collaborative research, startup incubation, cybersecurity enhancement and workforce development.
Quantum finance innovation is to be advanced through a memorandum of understanding for establishing the PNB Quantum Finance Hub at Amaravati Quantum Valley. The hub will develop, test and support adoption of secure, intelligent and future-ready banking solutions using Quantum Computing and Artificial Intelligence. It will bring together industry, academia, startups and government agencies for research, innovation, incubation and acceleration of financial technologies, focusing on cybersecurity, fraud detection, operational efficiency, risk management and customer experience.
July 23, 2026
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Foreign investment in inventory-based e-commerce is allowed only for exports of Indian-made goods, while domestic retail remains prohibited.
Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Restrictions on business-to-consumer and inventory-based e-commerce do not apply to these exports, subject to the Foreign Trade Policy 2023 and export regulations. Foreign direct investment in inventory-based e-commerce retailing for domestic sales remains prohibited, with the revised position taking effect upon the relevant foreign exchange notification.
July 23, 2026
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Joint Home Loan Eligibility and Shared Repayment Liability Shape Borrowing Capacity, Tax Claims, Documentation, and Exit Planning.
Joint home loans allow eligible applicants to combine income for a single housing loan, while making every co-applicant fully responsible for repayment. Eligibility depends on each applicant's income, financial obligations, credit history, age, repayment capacity and property criteria. Applicants should agree on EMI sharing, ownership proportions and exit arrangements before applying, as removal of a co-applicant requires lender approval and reassessment. Co-owner borrowers may claim applicable interest and principal repayment deductions subject to ownership, contribution and income-tax requirements. Each applicant must provide separate identity, income and banking documentation.
July 23, 2026
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Export competitiveness increasingly depends on regulatory compliance, preferential trade access and diversification into smartphones, medicines, petroleum products and semiconductors.
India's export potential to 2031 is centred on smartphones, polished diamonds, petroleum products and medicines, with the United States, Hong Kong, Japan, China, Singapore and the United Arab Emirates as important markets. New product opportunities include iron ore concentrates, gasoline vehicles and light petroleum oils. Although selected destinations offer duty-free or preferential access, market entry in mature markets increasingly depends on compliance with non-tariff measures, including registration, quality certification, safety documentation and product standards. Semiconductor-related manufacturing is identified as a long-term opportunity supported by expanding electronics capacity, supply-chain diversification and domestic incentives.
July 23, 2026
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Foreign investment in inventory-based e-commerce is permitted exclusively for exports of Indian-manufactured or produced goods under export compliance rules.
Foreign direct investment in inventory-based e-commerce is permitted exclusively for exports of goods or products manufactured or produced in India. Foreign direct investment remains permitted in business-to-business e-commerce and the marketplace model, while business-to-consumer and inventory-based direct sales to consumers remain prohibited except for the specified export activity. Export-oriented inventory-based operations must comply with the applicable Foreign Trade Policy and foreign exchange regulations governing exports.
July 23, 2026
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Women's leadership in credit expands through a Chennai community platform supporting mentorship, inclusive lending practices, and financial ecosystem collaboration.
The Chennai chapter of the 'Credit Goes to HER' initiative provides a platform for women professionals in banking, NBFCs, fintech, housing finance, academia and policy to share knowledge, obtain mentorship and collaborate on inclusive credit practices. It seeks to strengthen women's leadership and participation in the credit ecosystem while supporting responsible lending, financial inclusion, transparency and data-driven decision-making.
July 23, 2026
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Digital personal-loan campaign combines online collateral-free borrowing, eligibility-based assessment, flexible repayment options and conditional lifestyle rewards for successful disbursals.
Digital personal-loan campaign permits eligible customers to apply online for collateral-free borrowing and receive specified lifestyle rewards upon successful disbursal, subject to campaign terms. Applicants may check an offer, provide personal, financial and employment information, review loan terms, complete know-your-customer and bank-account verification, and undergo assessment. Interest rates, loan amounts and repayment tenures depend on eligibility, credit profile, income and internal assessment. An EMI calculator supports comparison of repayment options and estimation of monthly instalments before application.
July 23, 2026
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Foreign-exchange market pressure weakened the rupee as elevated crude prices and risk sentiment drove trading conditions.
Foreign-exchange market movement saw the rupee depreciate against the US dollar amid elevated crude oil prices linked to heightened West Asia hostilities. Weak domestic equity markets and foreign investor equity outflows contributed to negative sentiment. Market commentary indicated that prospective Reserve Bank of India intervention supported the rupee and could limit sharper depreciation, while shipping-security concerns contributed to elevated oil prices.
July 23, 2026
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Homebuyer refund claims in developer insolvency proceed through pro-rata distribution of funds deposited for eligible buyers.
Homebuyer refund claims connected with demolished residential towers are being considered within the developer's insolvency proceedings. Buyers who have not opted for alternative allotment seek repayment. Eligible refunds are contemplated on a pro-rata basis from funds deposited by the Interim Resolution Professional, subject to the claims process and the availability of deposited funds.
July 23, 2026
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Free trade agreement tariff reductions create investment opportunities for Asia-Pacific manufacturers seeking UK and European market access.
The UK-India Free Trade Agreement is presented as reducing tariffs on advanced machinery and manufacturing-related goods and creating trade and investment opportunities for Asia-Pacific manufacturers seeking UK and European market access. Manchester is promoted as an investment location through its advanced manufacturing cluster, skilled workforce, innovation infrastructure, international links, and available manufacturing and research space. Invest Manchester provides investor support and undertakes international engagement to develop trade, investment and innovation partnerships.
July 23, 2026
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Practical legal training and structured internships strengthen judicial examination preparation, professional skills, and career exposure for law students.
Legal education employability initiatives combine curriculum alignment for judicial and competitive examinations with mentoring, legal drafting practice, research training, and professional interaction. Internships provide practical exposure to courts, judicial institutions, government bodies, law firms, advocates' chambers, corporate legal departments, and non-governmental organisations. Students in integrated and three-year law programmes complete prescribed minimum internship periods, with summer and winter placements commencing after the first year. Specialisation-based internships cover civil, criminal, corporate, cyber, intellectual property, arbitration, taxation, and government or non-governmental legal work.
July 23, 2026
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Student fashion showcase celebrates identity, personal storytelling, craft preservation and conscious creation through nine contemporary design collections.
Student fashion showcase 'Astitva' presented nine contemporary collections exploring identity, belonging, transformation, memory, resilience, grief and cultural heritage through personal design narratives. The collections included a contemporary reinterpretation of Bhujodi weaving, Ajrakh block printing and Kumaoni hand-knitting, emphasising preservation of Indian craft traditions. Recognition included a designer award for the craft-revival collection and a sustainability award for a collection focused on craftsmanship, conscious creation, heirloom design and mindful luxury.

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Customs & Trade

Haryana Cabinet approves housing, EV, MSME and governance reforms

July 28, 2026

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Chandigarh, Jul 28 (PTI) The Haryana Cabinet on Tuesday approved a series of decisions aimed at promoting affordable housing, boosting industries, improving governance, strengthening welfare measures and encouraging electric mobility.

In a major relief for beneficiaries of the Pradhan Mantri Awas Yojana-Urban 2.0, the Cabinet, chaired by Chief Minister Nayab Singh Saini, approved a sharp reduction in stamp duty and registration charges for Economically Weaker Section (EWS) beneficiaries purchasing eligible dwelling units of up to 60 square metres.

Under the decision, eligible beneficiaries will pay only Rs 500 as stamp duty and Rs 500 as registration fee per conveyance deed.

At present, stamp duty is charged at 5 per cent along with 2 per cent additional duty, while registration fees are levied on a slab basis.

The government said the move would reduce the financial burden on beneficiaries and support the "Housing for All" mission.

The Cabinet also approved a Bill to establish Kusum International University in Rewari through an amendment to the Haryana Private Universities Act, 2006.

The government said the university would help expand higher education capacity and contribute towards achieving the National Education Policy 2020 target of a 50 per cent Gross Enrolment Ratio.

To improve financial accountability, the Cabinet approved the draft Haryana Local Audit Bill, 2026, which proposes a statutory framework for independent audits of local bodies and institutions receiving public funds.

The Bill empowers the Local Audit Department to issue surcharge notices, seek records and submit audit reports to the State Legislature within fixed timelines.

The government also unveiled the Haryana Progressive MSME and Export Promotion Policy 2026, describing it as the state's most comprehensive policy for micro, small and medium enterprises.

The policy includes 60 initiatives aimed at attracting Rs 55,000 crore in manufacturing investment, creating more than five lakh jobs and doubling the state's exports over the next five years.

It offers incentives such as capital and interest subsidies, credit support, export assistance, common infrastructure, technology adoption and sustainability measures.

The Cabinet approved compensation of Rs 7.5 lakh for the legal heirs of persons who die due to unnatural causes in police custody, including torture, suicide, quarrels among detainees or negligence by police personnel.

Compensation will not be paid in cases of natural deaths, illness, escape attempts or natural disasters.

In torture cases, at least half of the compensation amount will be recovered from the salaries of the guilty police officials.

In another decision, the Cabinet extended 20 per cent horizontal reservation for Haryana domicile ex-Agniveers in recruitment to posts of Fire Operator-cum-Driver, Wildlife Guard, Constable in the Indian Reserve Battalion and State Disaster Response Force.

The government said the move would provide employment opportunities while utilising the skills acquired during military service.

The Cabinet also approved rules under the Haryana Abadi Deh (Vesting, Recording and Resolving of Ownership Rights) Act, 2025, to create legal ownership records for properties in Lal Dora areas.

The rules provide a transparent mechanism for determining ownership and resolving disputes.

To improve revenue administration, the Cabinet amended the Haryana Revenue Patwaris Service Rules.

The mandatory training period has been reduced from 18 months to one year, and trainee Patwaris will now receive a regular salary instead of a stipend.

Their pay scale after successful completion of training has also been upgraded.

The Cabinet approved amendments to the Health Department service rules by creating 22 posts of Senior Radiology Officer and redesignating Radiographers as Radiology Officers.

In a move to encourage women's ownership of vehicles, the government approved a one per cent rebate in motor vehicle tax for non-transport vehicles costing up to Rs 20 lakh and registered in the name of women.

To promote clean transport, the Cabinet approved 100 per cent exemption from motor vehicle tax on new electric two-wheelers, three-wheelers and four-wheelers priced up to Rs 30 lakh.

Electric vehicles costing above Rs 30 lakh will receive a 50 per cent tax exemption, while the existing 20 per cent rebate for CNG vehicles will continue.

The Cabinet also approved the Haryana State Commission for Minorities Bill, 2026, providing for the establishment of a statutory commission to safeguard the rights and welfare of minority communities.

In addition, it relaxed provisions of the compassionate appointment policy to allow three Haryana domicile dependents of martyred Armed Forces and CAPF personnel, who were minors at the time of their parents' death, to be considered for Group-C government jobs after attaining adulthood.

The Cabinet also gave in-principle approval to a new formula-based property tax assessment system for urban local bodies, replacing the existing 2013 mechanism.

The new framework aims to make property tax assessment more transparent and uniform while providing exemptions for religious institutions, government schools and hospitals, agricultural properties and several other categories. PTI VSD MR

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