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    PROVISIONAL ESTIMATES OF INDEX OF CORE INDUSTRIES FOR THE MONTH OF AUGUST 2026, AND FINAL INDEX FOR THE MONTH OF JULY 2026 WITH BASE YEAR 2022-23.
    India-New Zealand FTA to Enter into Force from 20 October 2026
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September 22, 2026
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Core industry index growth is driven by electricity, cement, and iron ore despite contraction across coal, natural gas, and fertilizers.
The Index of Core Industries (ICI), using base year 2022-23, records a provisional overall index of 119.2 for August 2026, representing year-on-year growth of 4.8 per cent against August 2025. The July 2026 overall index has been finalised at 120.8 in place of its provisional value of 121.2, with the associated year-on-year growth revised from 5.4 per cent to 5.0 per cent. August 2026 data remain provisional.
September 22, 2026
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Tariff liberalisation under the India-New Zealand FTA grants Indian exports duty-free access while protecting sensitive agricultural products.
From 20 October 2026, the India-New Zealand Free Trade Agreement applies duty-free treatment to all tariff lines covering Indian exports to New Zealand, while preserving exclusions for sensitive Indian agricultural products. Market access for New Zealand apples, kiwifruit, and Manuka honey remains subject to tariff rate quotas, minimum import prices, seasonal windows, and safeguards. Services commitments, mobility routes, investment facilitation, agricultural cooperation, and recognition of specified international inspection approvals form further components.
September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.

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VKDL NPA Advisory Council Chairman V. K. Dubey Felicitated by Uttar Pradesh Women Commission Chairperson Babita Singh Chauhan

September 21, 2026

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VKDL NPA Advisory Council Chairman V. K. Dubey Felicitated by Uttar Pradesh Women Commission Chairperson Babita Singh Chauhan during Vishwakarma Puja & Seva Sankalp Program organised on birthday of Prime Minister Narendra Modi Lucknow: A meeting of the State Legislature Pensioners' Association was held in the conference hall of the Vidhan Bhavan, Lucknow, presided over by Dr. C.P. Sharma with Babita Singh Chauhan, Chairperson of State Women's Commission attending as the chief guest. Distinguished guests who addressed the gathering included Chandra Bhushan Tripathi (IAS, MD of the Uttar Pradesh Cooperative Federation); BJP leader and Chairman of VKDL NPA Advisory Council Advocate Vinay Kumar Dubey, Dr. Suryakant; Govind Jangid (Jaipur); Ramakant Panchal (Ujjain); Shivam Singh (Ballia); and Manmohan Yadav. During the event, Babita Singh Chauhan, Chairperson of the Uttar Pradesh State Commission for Women specially honored Advocate V. K. Dubey in recognition of his continuous social work undertaken by him and his organisations specifically the provision of employment to thousands of women in state of Uttar Pradesh and efforts toward public welfare. In her address, the Chairperson emphasized the spirit of social welfare and the primacy of the nation, while commending the resolve shown towards women's welfare and public service. In his speech, Advocate V.K. Dubey invoked Lord Vishwakarma and called upon everyone to dedicate themselves to the nation through hard work, technology, and skill, aiming to establish India as a 'Vishwa Guru'. He praised Prime Minister Narendra Modi and Home Minister Amit Shah, lauding the government's schemes and highlighting how their benefits are reaching the masses. He spoke highly of work done in the state by Chief Minister Yogi Adityanath and explained the distinction between good governance and poor governance. Dubey stated that given the current pace of progress, the day is not far when India will become a global leader and a developed nation. He expressed confidence that the 'double-engine government' would remain committed to the state, ensuring the smooth implementation of various government projects in every village so that even the most marginalized individuals could reap the benefits; only then, he noted, could the goal of 'Antyodaya' (upliftment of the last person) be realized and a developed nation built. He pledged to serve and inspired the audience by raising the slogan "Bharat Mata Ki Jai." Advocate Dubey, a former member of the Official Language and Hindi Advisory Committees under the Government of India's Ministry of Skill Development and Ministry of Home Affairs, is renowned nationwide for his outstanding legal services and social work. He was specially honored for his remarkable contributions in the fields of banking, NPA resolution, legal awareness, and social service. The felicitation ceremony was the highlight of the event. Advocate Dubey was also accorded special honor. The audience present at the ceremony greeted him with thunderous applause.

Vinay Kumar Dubey (V. K. Dubey) is a distinguished legal expert based in Mumbai, Delhi, and Bengaluru renowned for his specialized expertise in civil, criminal, and NPA (Non-Performing Asset) advisory matters. He primarily represents clients in high-profile cases before the Bombay High Court and the Supreme Court. Beyond general legal practice, he holds a distinct reputation in banking and industrial legal matters; he serves as the Chairman of the VKDL NPA Advisory Council and also as CMD of NPA BAZAAR PRIVATE LIMITED, a company playing a pivotal role in resolving financial disputes. He has served as a member of the Government of India’s Hindi Advisory Committee and has been appointed as a Special Executive Officer by the Government of Maharashtra. He heads the prestigious law firm "V. K. Dubey Associates," which operates on the principle of "Justice for All" and specializes in resolving civil and criminal disputes. Additionally, he leads public service initiatives through various social organizations. His other law firms, VKDL Corporation LLP and United Legal, provides specialised services in banking, corporate, and settlement matters, collectively boasting over a decade of experience. Dubey has also established the Bharat International Business Orientation (BIBO Foundation) to connect with and resolve the issues of business communities both in India and abroad; furthermore, he plays an active role in the Brahmin Ekta Manch Charitable Trust and Gyanoday Seva Samiti, through which he engages in various social welfare activities. He serves as the National Legal Head for the Prime Minister’s Atmanirbhar Bharat Abhiyan organization and is recognized as an active grassroots social worker associated with the Bharatiya Janata Party (BJP). He is continuously dedicated to causes such as cow protection, assisting the underprivileged, promoting education, and fostering social upliftment. He conducts education and support programs for underprivileged sections of society through the Kumari Mamata Devi Charitable Trust and the Gyanoday Seva Samiti. In 2024 and 2026, he was honored with prestigious international and national awards for his outstanding contributions to the legal and social sectors; these include a special honor at the 2nd International Bar & Bench Badminton Championship held in London and the "Popular Civilian Icon of India Award." His primary objective is to ensure that justice reaches the most marginalized individuals in society through legal aid, social empowerment, and public awareness initiatives. He effectively integrates his social work in Pratapgarh, Uttar Pradesh, with his professional activities based in Delhi, Mumbai and Bengaluru.

At the event, Lord Vishwakarma was venerated, and Prime Minister Narendra Modi was hailed as a national hero by attendees including Hari Prakash Agarwal, Dr. Rupali Rathore, Pooja Upadhyay, Nidhi Rastogi, Anita, Chitra Dixit, Premchandra, Santosh Pal, Madhu Krishna, Purushottam Lal, Soni, Jagdish, Pratap Narayan Dwivedi, Meena, Shiv Ram Mishra, Rajesh Prakash, Ram Bihari Mishra, Shweta Soni, Sanjay Vishwakarma, Gulvinder, Umesh Shukla, Gajendra Singh, Sevak Ram, Dinesh Chandra Awasthi, K.D. Tripathi, Vinay, Shivam Singh, and journalists Chandra Kishore Sharma and Ramkumar Sharma.

Babita Singh, Chairperson of the Uttar Pradesh State Women's Commission, stated that national hero Narendra Modi has undertaken historic work to make women self-reliant and has elevated the country to the pinnacle of the global stage.

Guest of Honour Chandra Bhushan Tripathi remarked that Lord Vishwakarma is the creator of the universe, revered across all faiths, and stands as an unparalleled example of the resolve to serve. The Chief Guest felicitated Ashish—son of President Dr. C.P. Sharma who for qualifying for the NEET exam and securing admission to medical college.

Prior to the meeting, a community feast was organized, courtesy of Shivam Singh. Finally, the founder, Dr. Dinesh Chandra Awasthi, expressed his gratitude to everyone present.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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