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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens. Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.
Economic growth and persistent inflation shaped slower output, import pressures, and continued interest-rate restraint despite resilient consumer spending. United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.
Gold market volatility reflects retail buying, global price trends, currency movements, and weaker domestic demand linked to higher customs duty. Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.
Protection and indemnity insurance expands domestic maritime risk coverage for third-party liabilities and strengthens self-reliant insurance capacity. Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.
Cloud-native digital banking transformation integrates lending, cash management and liquidity tools while supporting scalable, resilient and compliant operations. Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.
Workplace culture recognition highlights continued investment in employee wellbeing, inclusion, learning, collaboration and growth at a stockbroking firm. Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.
Pro-competitive reforms strengthen market conditions through competition policy, investment review, trade facilitation, and reduced international regulatory barriers. Structural and pro-competitive reforms between 2010 and 2023 are assessed as reducing market distortions and strengthening competitiveness. The assessment covers property-rights protection, domestic competition and international competition, including the Goods and Services Tax, Insolvency and Bankruptcy Code, regulatory improvements and trade-facilitation modernisation. Further priorities include evidence-based competition policy, consumer-welfare review of sector-specific investment restrictions, and cooperation to address international regulatory barriers.
Aadhaar enrolment access expands through a new service centre, with coordinated efforts focused on improving young children's coverage. Aadhaar enrolment in Manipur has reached approximately 87-88 per cent, with comparatively lower coverage among children aged 0-5 years. The first Aadhaar Seva Kendra in Imphal has been inaugurated to expand access to enrolment and Aadhaar-related services. The State Government is coordinating with welfare and health departments, hospitals and UIDAI to improve young children's enrolment, alongside services available through Deputy Commissioners' offices and authorised enrolment centres.
Secured retail lending growth accompanied enhanced credit controls, digital lending processes, and branch expansion by a middle-layer non-banking finance company. IndoStar Capital Finance Limited, a middle-layer non-banking finance company registered with the Reserve Bank of India, reported growth in secured used-vehicle finance and micro loans against property for the quarter ended June 30, 2026. It reported higher disbursements, assets under management and net interest income, alongside a lower weighted average cost of funds. The company also stated that it strengthened underwriting, customer-selection filters, scorecards and early-warning systems, while advancing electronic lending processes and expanding its branch and micro-loans-against-property network.
Gold demand trends show central bank buying and OTC investment offsetting weaker ETF and jewellery demand. Global gold demand remained broadly unchanged during the April-June quarter, with reduced gold exchange-traded fund, bar and coin investment offset in part by over-the-counter investment supported by Asian investors. Central banks and official institutions increased net additions to gold reserves, while high prices reduced jewellery volumes and encouraged demand for lighter products. Total supply was unchanged as increased mine production was offset by lower recycling. Investment is expected to drive future demand, while high prices may continue to constrain jewellery demand and recycling.
Sports infrastructure PPP framework enables private stadium operation while requiring free coaching, child protection compliance, and student performance tracking. The PPP framework permits private operators to modernise, operate and maintain school sports stadiums at their own cost, while providing free organised sports training to enrolled students. Operators may commercially offer paid coaching and facilities to external users outside school hours, subject to student-related obligations. Selection is based on technical eligibility and detailed evaluation of sports, PPP, operational and technology capabilities. Agreements have an initial five-year term, with possible extension based on performance, mutual consent and public interest. Child-protection compliance, bank-routed transactions and disqualification for insolvency or statutory and child-safety violations apply.
Quarterly financial reporting highlights operational growth, FDA inspection compliance, product integration, and prior insolvency proceeds in pharmaceutical operations. Quarterly financial reporting records revenue growth and improved EBITDA performance across CDMO, Complex Hospital Generics and Consumer Healthcare operations. CDMO growth was linked to order inflows, higher capacity utilisation, pricing discipline and commercial expansion, while quality compliance included an Establishment Inspection Report for the Sellersville facility and continued Zero Official Action Indicated status. The prior-year exceptional item related to one-time insolvency proceeds from a supplier claim filed before the NCLT. Consumer Healthcare growth was attributed to power brands, e-commerce, premiumisation, pricing and cost optimisation.
Proposed e-Way Bill enhancements remain on hold, with no production changes required pending further communication. Proposed e-Way Bill enhancements have been kept on hold until further notice. Stakeholders are not required to make production-environment changes pursuant to the earlier advisories concerning those enhancements. The related advisories and FAQs are to be withdrawn from the GST Portal pending further communication.
Innovation-led industrial growth promotes deep-tech investment, startup commercialisation, technology-enabled MSMEs, quality manufacturing and global market expansion. Innovation-led industrial growth is linked to deep technology, research and development, skilled manpower, startups, MSMEs and globally competitive manufacturing. Public initiatives include long-term risk capital for emerging technologies, affordable computing capacity and semiconductor investment support. Startups are encouraged to move from prototypes to commercialisation through industry adoption and early domestic investment. Manufacturing and MSME policy emphasise technology adoption, automation, productivity, branding and uncompromising quality. Free Trade Agreements are presented as supporting global market access and export expansion.
Fraudulent Aadhaar enrolment allegations involve forged supporting documents, misuse of operator credentials, remote access, and continuing investigation. Forgery of Indian identity and supporting documents is alleged in an interstate racket using false birth, domicile and school certificates to obtain Aadhaar cards for foreign nationals. The racket allegedly misused authorised Aadhaar enrolment operator login credentials and used virtual private networks and remote access to enrol applicants. The alleged mastermind was arrested, and investigation, including proposed custodial interrogation, remains ongoing.
Citizenship proof requires more than identity, tax, electoral or banking records when nationality remains unestablished. Voter identity cards, Aadhaar cards, PAN cards and bank-account records were treated as non-conclusive proof of Indian citizenship. The petitioner and detainee were required to establish citizenship under the Immigration and Foreigners Act, 2025, and an appeal against deletion from electoral rolls did not itself satisfy that burden. The inability to identify the burial locations of the detainee's parents prevented proposed DNA-based verification and supported an adverse inference concerning their citizenship.
Corporate Mitra Scheme builds local compliance professionals to strengthen MSME regulatory, financial, taxation, accounting and governance support. The Corporate Mitra Scheme develops qualified and accredited para-professionals to provide MSMEs with accessible, affordable compliance and business-support services. Corporate Mitras are intended to assist enterprises with regulatory compliance, finance, taxation, accounting and governance-related requirements, enabling MSMEs to focus on innovation, expansion and growth. IICA Shillong serves as the nodal agency for Northeast regional coordination, stakeholder liaison, promotion and awareness, with regional participation encouraged through reserved course seats and a fee concession.
Amalgamation of Go Digit Infoworks with Go Digit General Insurance approved, with the general insurer continuing as surviving entity. The Competition Commission of India approved the amalgamation of Go Digit Infoworks Services Private Limited, the holding company of Go Digit General Insurance Limited, with Go Digit General Insurance Limited as the surviving entity. Infoworks has no present market-facing business activities. Go Digit General provides general and health insurance products and services in India, with a specialised focus on general insurance.
Competition approval enables Brookfield's indirect acquisition of Oaktree entities, combining alternative investment management businesses. Competition approval was granted for Brookfield Asset Management Ltd. to indirectly acquire units in Oaktree Capital Group Holdings, L.P. and Oaktree Equity Plan, L.P., resulting in the acquisition of the Oaktree operating group of entities. Brookfield Asset Management is a global alternative asset manager, while the Oaktree group provides alternative investment management services.
Processed dairy exports to Bhutan expand through compliance support, market access facilitation, and planned diversification of longer-shelf-life products. Processed dairy exports from Assam to Bhutan commenced with a Purabi Ice Cream consignment exported by North East Dairy and Foods Limited and manufactured through Assam's cooperative dairy network. The Agricultural and Processed Food Products Export Development Authority supported export documentation, regulatory compliance, market access and stakeholder coordination. The initiative seeks to expand value-added dairy exports from the North Eastern Region, with plans to introduce longer-shelf-life products and increase exports according to market demand.
MOU on Mutual Administrative Assistance to facilitate Co-operation in the Prevention, Detection, Investigation and Combating of Customs Offences between United Kingdom of Great Britain and Northern Ireland and Republic of India
June 19, 2009
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The Union Cabinet today approved the text of a new MOU to be signed between India and United Kingdom of Great Britain and Northern Ireland on Mutual Administrative Assistance to facilitate Co-operation in the Prevention, Detection, Investigation and Combating of Customs Offences.
The MOU provides for assistance by sharing information and intelligence to facilitate proper application of Customs law and prevention, detection, investigation and combating of Customs offences. The assistance under the MOU shall be provided in accordance with the national laws within the competence and available resources of the Customs administration. The MOU also provides for "capacity enhancement" by way of cooperation in exchange of information on new Customs law enforcement techniques, modern technologies and on developments in policy, legislation and the evolution of best practices.
The provisions in the approved MOU have been framed to enable systematic and structured exchange of information, including a separate Service Level Framework, to facilitate expeditious response on requests within a prescribed time frame. This Agreement will significantly help the Indian Customs Administration in getting reliable information to enable detection and investigation of Customs violations, particularly in the critical area of under-valuation of imports and over-valuation of exports and the consequent fraudulent availment of export incentives.
BACKGROUND:
A MOU between the Central Board of Excise & customs, India (CBEC) and Her Majesty's revenue and Customs of the United Kingdom of Great Britain and Northern Ireland (HMRC) on Cooperation in Customs Matters was signed on 16.03.2001. After mutual discussion, it was agreed that the existing MOU needs to be replaced by a new MOU in light of the current requirements and to provide for systematic exchange of data and information.
Mutual administrative assistance in customs fosters structured information exchange and capacity enhancement to tackle valuation and related offences.
The MOU creates a structured mechanism for sharing information and intelligence to prevent, detect, investigate and combat customs offences, subject to each administration's national laws, competence and available resources, and includes provisions for capacity enhancement through cooperation on enforcement techniques, technologies, policy and best practices, together with a Service Level Framework to ensure time bound, expeditious responses to requests.
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