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    UCO Bank launches IFSC Banking Unit at GIFT City
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August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
August 13, 2026
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Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
August 13, 2026
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Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
August 13, 2026
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Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
August 13, 2026
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Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
August 13, 2026
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Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
August 13, 2026
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Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
August 13, 2026
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EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
August 13, 2026
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Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
August 13, 2026
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Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
August 13, 2026
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Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
August 13, 2026
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Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
August 13, 2026
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CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
August 13, 2026
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Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.
August 12, 2026
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Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
August 12, 2026
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Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.

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PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning

August 11, 2026

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PM GatiShakti Provides Integrated Planning Framework without Separate Budgetary Provisions

PM GatiShakti National Master Plan (PMGS NMP), launched in October 2021, is a transformative “Whole of Government” approach to bring together various Central Ministries/Departments and States/UTs to ensure integrated planning and coordinated execution of infrastructure projects. PMGS NMP aims to facilitate Ministries/States in data driven decision making by utilizing geospatial data, satellite imagery and API integration to monitor, plan, and optimize infrastructure development. The PMGS NMP is facilitating Ministries/States in planning of their respective infrastructure projects, including social infrastructure projects, in integrated, synchronized and coordinated manner to provide seamless and efficient connectivity for the movement of people, goods, and services across various modes of transport, thereby enhancing last-mile connectivity and reducing travel time.

PM GatiShakti provides an integrated planning framework; the approval and implementation of the projects are undertaken by the respective central Ministries/Departments and States/UTs under their plans, schemes, procedures and budgetary/funding provisions. Hence, no quantified targets or expenditure requirements have been set under PM GatiShakti initiative.

The Network Planning Group (NPG), constituted under the PM GatiShakti framework, evaluates the critical infrastructure projects of the central Government to ensure integrated planning, multimodality, inter-modality, synchronization of efforts, last mile connectivity, comprehensive development in and around the project location, data driven decision makings, etc at the planning stage. As on date, 396 infrastructure projects with total estimated cost of about ₹ 18.66 Lakh Crore have been evaluated through the NPG mechanism. Out of these 396 projects, 256 projects have been sanctioned - out of which, 198 projects are under implementation. Ministry-wise details are given at Annexure-A.

Government carries out assessment of its initiatives/schemes from time to time through various studies, surveys, etc. Apart from these, there are several studies by universities and research scholars in this respect. As per these assessments, the integrated planning initiatives like, PM GatiShakti, National Logistics Policy, PRAGATI, Sagarmala, development of connectivity infrastructure (expressways/ national highways/ dedicated rail freight corridors and rail tracks, industrial corridors/hubs), etc. have shaped the vision of connected and competitive India and have improved logistics efficiency, turn-around time, ease of doing business, industrial growth and reduced logistics cost in country. An assessment of logistic cost has been carried out by DPIIT in the year 2025 in collaboration with National Council of Applied Economic Research (NCAER). As per the assessment, the logistics cost in India is estimated at 7.9% of the GDP, which is at par with the advanced economies in the world. The Economic Survey 2023-24 highlighted that these measures have improved domestic manufacturing and export competitiveness. A study by Indian Institute of Management, Bangalore on impact of development of National Highway projects underlines that every-one rupee expenditure in National Highways development leads to a ₹3.2 increase in Gross Domestic Product (GDP).

So far 58 Central Ministries/Departments and all 36 States/UTs have been onboarded on the PMGS NMP, covering all infrastructure sectors like road, rail, ports & waterways, power, petroleum & natural gas, civil aviation, telecommunications, industrial corridors, etc. Further, PM GatiShakti public platform (url: ugi.pmgatishakti.gov.in) has been launched in September 2025, which provided access of PM GatiShakti data analytics to private entities and general public. Through this Query based mechanism, public and private entities are able to plan their projects by obtaining data analytic reports from the PMGS-NMP Portal through a simple query-based mechanism. The States have been encouraged to expand the use of PM GatiShakti for district level planning. About 1800 data layers have been integrated and over 65 software modules/tools and more than 100 mobile/web applications have been developed and integrated on the platform for the use of stakeholders. Further expansion of the PM GatiShakti initiative is a continuous process - mapping/integration of more data layers, development and integration of additional features, software modules/tools for planning and analysis modules/tools, mobile/ web applications, etc. to be continue further as per the requirements of the Ministries/Departments, States/UTs and other stakeholders.

This information was given by Minister of State for Ministry of Commerce and Industry, Shri Jitin Prasada in a written reply in Lok Sabha today.

ANNEXURE-A

Ministry-wise details of Projects evaluated through NPG Mechanism

Ministry/Department

Number of Projects

Sanctioned

Yet to be Sanctioned

Under Implementation

Estimated Cost (Rs. in Crore)

Ministry of Road Transport and Highways

171

108

63

53

9,01,668

Ministry of Railways

162

102

60

102

5,43,315

Ministry of Housing and Urban Affairs

31

17

14

17

2,88,614

Ministry of Petroleum and Natural Gas

4

4

0

3#

9,271

Ministry of Ports, Shipping and Waterways

3

2

1

2

49,759

Ministry of Civil Aviation

6

4

2

2

10,005

NICDC, Department for Promotion of Industry and Internal Trade

12

12

0

12

28,693

Ministry of New and Renewable Energy

01

1

0

1

20,774

Ministry  of   Electronics

And               Information Technology

01

1

0

1

4,680

Ministry of Textiles

05

05

0

05

9,760

Total

396

256

140

198

18,66,539

***

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