The cumulative exports (merchandise & services) during April-June 2026-27 is estimated at US$ 232.73 Billion, as compared to US$ 208.98 Billion in Apr...
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman interacts with Bank MDs and CEOs on FCNR(B), ECB and OFCB swap initiatives in N...
Frozen political party accounts raise questions on representative authority, Election Commission recognition, and preventing money laundering during investigation Permission to operate three Trinamool Congress bank accounts frozen by the Enforcement Directorate was sought before the Calcutta High Court in connection with a probe into alleged dishonest financial dealings, unlawful collection of money, and routing of suspected funds through specified accounts. The Enforcement Directorate challenged the petition's maintainability, asserting that the filers lacked authority and had not disclosed an ex parte civil court order. The petitioners relied on the party constitution and the Election Commission's jurisdiction over recognition of political parties, while the Enforcement Directorate maintained that releasing the funds would undermine the prevention of money laundering.
Fake investment and work-from-home scams: laundering through mule accounts, shell entities and crypto wallets prompts asset seizures Money laundering investigations under the Prevention of Money Laundering Act concern alleged fake online investment and work-from-home scams involving promises of lucrative returns and commissions. Funds transferred by victims were allegedly layered through mule bank accounts and shell entities, converted into cryptocurrency, and moved through multiple crypto wallets to conceal their origin and ownership. Searches were conducted at multiple locations, with cryptocurrency and cash seized and multiple bank accounts frozen under the PMLA.
Engineering export growth reflects market diversification, trade agreements, and rising global competitiveness despite persistent international uncertainty India's engineering goods exports increased by nearly 21 per cent year-on-year in June, rising to USD 11.48 billion. Cumulative exports during April-June of the 2026-27 fiscal reached an estimated USD 34.14 billion, reflecting 18 per cent growth over the corresponding period of the previous year. The reported export performance was attributed to free trade agreements with key partner countries, diversification of products and markets, and the increasing global competitiveness of Indian engineering products despite continuing global uncertainty.
Rural infrastructure development through NABARD strengthens farmer support, women's financial inclusion, and climate-resilient agriculture in Rajasthan NABARD is presented as a key partner in Rajasthan's rural infrastructure and agricultural development. Its initiatives support small and marginal farmers through Kisan Credit Cards, farmers' clubs and Farmer Producer Organisations, while the Self-Help Group-Bank Linkage Programme promotes financial inclusion among rural women. NABARD also supports climate-change resilience, honours rural development institutions and artisans, and provides grants for projects promoting climate-resilient agriculture.
Retail inflation rises above target as food and fuel pressures challenge monetary policy outlook ahead of August review Retail inflation based on the Consumer Price Index increased to 4.38 per cent in June from 3.93 per cent in May, exceeding the Reserve Bank's median target of 4 per cent. Food inflation rose to 5.32 per cent. The Reserve Bank's framework seeks to maintain CPI inflation at 4 per cent within a tolerance band of 2 per cent on either side. The Reserve Bank retained the benchmark policy rate at its June meeting but raised its inflation forecast for 2026-27, citing higher input costs and global energy price transmission to domestic fuel prices. Economic assessments anticipated further inflationary pressure while generally expecting the policy rate to remain unchanged at the forthcoming review.
Money laundering proceedings fail when acquittal in the scheduled offence removes the basis for alleging proceeds of crime. Money laundering proceedings arising from the Bander coal block allocation were terminated because the underlying predicate offences had already ended in acquittal. The central legal point reported is that, while money laundering under the Prevention of Money Laundering Act is a distinct offence, its survival depends on the continued existence of the scheduled offence and proceeds of crime. Once acquittal in the scheduled offence removed that foundation, the complaint under Section 3 read with Section 70, punishable under Section 4, was dropped and dismissed.
Trade deficit expansion accompanies export growth as higher crude oil, electronics, machinery and gold imports outpace merchandise export gains. June trade data shows export growth alongside a wider merchandise trade deficit because imports increased faster than exports. The higher import bill was driven mainly by crude oil, with electronics, machinery and gold also adding to import pressure. April to June figures reflect the same trend, with cumulative imports outpacing export growth and enlarging the merchandise trade gap. Export strength was reported in sectors such as electronics, iron ore, handicrafts, meat and dairy products, while services trade estimates for June indicate a surplus as services exports exceeded services imports.
Foreign currency mobilisation gains momentum through FCNR(B) deposits, ECBs and OFCBs, backed by NRI outreach and swap facilities. Foreign currency mobilisation under the FEMA / RBI framework is being driven through FCNR(B) deposits, ECBs and OFCBs, with banks directed to strengthen NRI outreach, offer innovative deposit products and sustain mobilisation during the scheme period. Attractive returns on fresh FCNR(B) deposits, supported by suspension of the interest rate ceiling, customised digital outreach, use of International Banking Units at GIFT City, central bank support, and real-time reporting are presented as key implementation mechanisms. The scheme combines a US dollar-rupee swap facility for fresh FCNR(B) deposits with a concessional swap facility for eligible ECBs and OFCBs to support capital inflows and the balance of payments.
Trade pact negotiations advance as India and the US align a framework deal with wider tariff and market access discussions. India-US trade negotiations are advancing through a framework deal and a bilateral trade agreement, with discussions focused on preferential market access and India's effort to obtain comparative tariff advantage over competitor nations. The framework arrangement is stated to be ready for signature at the appropriate stage, while the broader agreement remains under negotiation. India is also engaging with Section 301 investigations on forced labour and excess industrial capacity; proposed additional tariffs affecting multiple economies, including India, have not yet been finalised.
Foreign trade growth data shows rising exports, higher imports, and a wider trade deficit across merchandise and services segments. Combined merchandise and services trade data for June 2026 and April-June 2026-27 records export growth together with stronger import growth and a wider trade deficit. Merchandise exports, non-petroleum exports, and trade excluding petroleum and gems and jewellery all show increases, while services exports and imports are also estimated to have risen. Major merchandise export growth drivers identified for June 2026 include gems and jewellery, engineering goods, organic and inorganic chemicals, electronic goods, and rice. The services figures for June 2026 are expressly stated to be estimates based on the latest available central bank data.
RTI disclosure duties require clear access, proper transfer, and reasoned confidentiality claims for petroleum and ethanol data requests. The article addresses RTI access to historical petrol and ethanol data held or referenced by the Petroleum Planning and Analysis Cell. It identifies key issues relating to disclosure of public-domain records, provision of specific website links, transfer of queries to the authority that actually holds supplier information, and the need to expressly invoke appropriate RTI exemptions when withholding company-wise petrol supplier details. The central legal themes are partial disclosure, commercial confidentiality, custodianship of records, and procedural adequacy in responding to requests for petroleum-sector production, blending, supplier, and profit-related information.
Soybean meal export decline reflects weak international demand, higher domestic pricing, and reduced trade performance during the current oil marketing year. Soybean meal exports in June 2026 fell sharply to 30,000 tonnes from 97,000 tonnes a year earlier, driven by higher Indian prices than competing countries, weak demand in major importing markets, and geopolitical tensions in West Asia. June production was reported at 5.52 lakh tonnes, with utilisation split between human consumption and animal, poultry, and fish feed. Month-end stock, including old stock, stood at 1.27 lakh tonnes, while cumulative exports in the first nine months of the current oil marketing year remained below the corresponding period of the previous year.
Foreign currency mobilisation under RBI swap initiatives gains momentum through NRI outreach, FCNR(B) deposits, and eligible external borrowing support. Foreign currency mobilisation under the RBI's FCNR(B), ECB and OFCB swap initiatives was reviewed with emphasis on sustaining inflows through enhanced outreach to the non-resident Indian diaspora. Banks reported encouraging uptake, supported by attractive returns on FCNR(B) deposits and the suspension of the interest rate ceiling on fresh deposits under the scheme. Institutions also described digital outreach, use of International Banking Units at GIFT City, and expectations of stronger ECB mobilisation. The RBI was noted as supporting eligible mobilisation and borrowings through a transparent daily reporting framework.
Consumer financing for gaming hardware accompanies GTA 6 India launch details, including platform access, pre-orders, and EMI-based purchase options. The article combines GTA 6 launch information in India with a consumer financing framework for gaming hardware purchases. It states the release date, supported platforms, pre-order availability, editions, and major gameplay features, and notes that current-generation console access is required while PC requirements remain unconfirmed. It separately outlines an Easy EMI Loan for consoles, televisions, and accessories through partner stores, with financing up to Rs. 5 lakh, repayment tenures from 3 to 60 months, possible zero down payment on select products, and optional paperless EMI conversion through the Insta EMI Network Card.
Rupee depreciation pressures deepen as crude oil prices, dollar strength, and geopolitical tensions weigh on foreign exchange market sentiment. Foreign exchange market pressure under the FEMA and RBI regulatory context is reflected in the rupee's depreciation against the US dollar, driven by higher crude oil prices, a stronger dollar, and risk aversion arising from escalating geopolitical tensions involving the US and Iran. Trading remained volatile, with the rupee recovering from lower levels as domestic markets improved and crude prices softened from intraday highs. The near-term outlook remained negative because of continuing global uncertainty, while diplomatic de-escalation and stronger domestic market conditions were identified as potential supporting factors.
Interim bail in money laundering cases turns on medical hardship, custody safeguards, and prosecution objections over flight risk and tampering. Interim bail was sought under the Prevention of Money Laundering Act in two money laundering cases on medical hardship grounds arising from the accused's wife's cancer treatment. The request included willingness to accept restrictive conditions such as a GPS tracker. The Enforcement Directorate opposed release, citing risk of evidence tampering and absconding, and proposed custodial parole instead. The underlying prosecutions concern alleged diversion of student fee funds, misrepresentation of accreditation and regulatory recognition, and alleged fraudulent acquisition of land.
Split verdict precedent status clarified as Supreme Court leaves SAT order unstayed while excluding its use in similar securities matters. Securities enforcement proceedings over intra-group flat sale transactions led the Supreme Court to refuse a stay of the SAT order that had set aside SEBI's earlier directions against Bombay Dyeing and certain promoter-group individuals. The Court nevertheless stated that the SAT's 2:1 split verdict will not operate as a precedent in similar matters. The dispute centres on 11 memoranda of understanding between group companies, with SEBI raising issues of associate company status, lifting the corporate veil, the single economic entity principle, and alleged accounting mismatch concerning sale proceeds and agency commission.
Merchandise trade imbalance widens as export growth continues but faster import expansion increases the trade deficit in June. June merchandise trade data shows export growth alongside a stronger rise in imports, leading to a wider trade deficit. Exports increased by 15.5 per cent to USD 40.41 billion, while imports rose by about 31 per cent to USD 70.84 billion, taking the deficit to USD 30.43 billion. For April-June, exports and imports both increased, with import growth linked to crude oil, electronics, machinery, and precious metals. Gold imports also rose in the first quarter, and exports to West Asian countries recorded moderate growth in June.
Credit card transparency drives clearer interest, fee, EMI, and digital repayment management across customer-focused card variants. AU Small Finance Bank outlines a credit card framework centered on transparent pricing, informed borrowing, and digital self-management. The summary emphasizes customer understanding of credit card interest rates, billing cycles, interest-free periods, finance charges, late payment fees, and EMI interest rates as essential to responsible credit use. It also describes conversion of eligible transactions into instalments through the Xpress loan EMI facility with an EMI calculator to estimate repayment commitments. Multiple payment channels and app-based access to statements, balances, due dates, spending records, and card information are presented as core features of the digital credit card system.
Rupee weakness tracks higher crude oil prices as geopolitical tensions, dollar strength and weak equities pressure sentiment. The rupee weakened in early trade against the US dollar amid higher crude oil prices and renewed geopolitical tensions affecting global oil supplies. Dealers linked the fall to a sharp rise in Brent crude and a stronger dollar index, while domestic equities also opened lower. The report further notes net foreign institutional buying in equities and a rise in the country's forex reserves during the latest reporting week.
The ECB policy is regularly reviewed and modified by the Government in consultation with Reserve Bank of India, keeping in view the evolving macroeconomic condition, sectoral requirements and investment demand. The policy was reviewed in June, 2009. As per the extant ECB guidelines, units in the SEZ are permitted to access ECBs for their own requirements. However, based on review effective from June 30, 2009, SEZ developers have been permitted to avail of ECB under the Approval route for providing infrastructure facilities also, as defined in ECB policy, within the SEZ. However, ECB shall not be permissible for development of integrated township and commercial real estate within the SEZ. The infrastructure facilities as defined in the extant ECB policy include (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport (vi) industrial parks (vii) urban infrastructure (water supply, sanitation and sewage projects) and (viii) mining, refining and exploration.
ECB can be accessed under two routes. Viz. (i) Automatic Route as outlined in Section I(A) and (ii) Approval Route as outlined in Section I (B) of Master Circular dated July 1, 2009 on ECB issued by RBI under FEMA. Under the Automatic Route, the eligible borrowers may enter into loan agreement with recognized lender for raising ECB complying with the amount, maturity, all-in-cost, and end use etc. conditions in the ECB guidelines without prior approval of the Reserve Bank. However, the borrowers are required to obtain a Loan Registration Number (LRN) from the Reserve Bank before drawing down the ECB. The procedure for obtaining LRN has been outlined in Section II(i)(b) of Master Circular on ECB and Trade Credits issued by RBI under FEMA,
This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Lok Sabha today.
External commercial borrowings: SEZ developers may use the Approval route for permitted infrastructure financing, not real estate.
SEZ units may access ECBs for their own needs, and SEZ developers may obtain ECBs under the Approval route to provide defined infrastructure within SEZs; ECBs remain impermissible for integrated township and commercial real estate. ECBs are available under the Automatic Route or the Approval Route per the Master Circular: the Automatic Route permits eligible borrowers to contract with recognized lenders without prior RBI approval subject to amount, maturity, all-in-cost and end-use conditions and requires obtaining a Loan Registration Number before drawdown.
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