Breaking News Today: Trump Levies 25% Tariffs On Japan, South Korea; Aug. 1 To Be Tariff Levy Date

• Japan, South Korea slapped with 25% tariffs letters.

• Sectoral tariffs (steel, aluminium, auto components) to continue separately.

• Transshipped goods will be slapped higher tariffs.

• Aug. 1 to be the tariff levy date.

Get live updates here.

White House Press Secretary Karoline Leavitt is now set to address media at 10:30 p.m. IST, as per latest updates.

Get all India-US Trade updates here.

State-owned Bank of India on Monday reduced its savings deposit rate by 0.25 per cent or 25 basis points to 2.50 per cent, in line with similar moves by peers.

The lender also cut the interest rate on green deposits, and pointed out that a 999-day deposit will earn 6.70 per cent now against 7 per cent earlier, according to a statement.

• Net Advances rises 14% to Rs 4.4 lakh crore (YoY).

• Total Deposits rises 14.6% to Rs 5.1 lakh crore (YoY).

• CASA rises 7.9 % to Rs 2.1lakh crore (YoY).

Source: Exchange filing

The Enforcement Directorate's Chandigarh Zonal Office conducted raids on Friday at three suspected shell companies - Kindent Business Solutions Pvt. Ltd., Rainet Technology Pvt. Ltd., and Mool Business Solutions Pvt. Ltd. - in Noida and Lucknow, Uttar Pradesh reported NDTV.

These companies claimed to be IT firms offering services like wallet-based API, domestic money transfer based payment systems, and bill payments. However, the ED investigation revealed that these firms were actually used to launder money from a massive online forex and multi-level marketing scam, duping thousands of investors across the country.

The ED investigation revealed that the accounts with heavy transactions were receiving payments from entities like QFX, YFX, YorkerF, TLC Coin, and BotBro, which were already under investigation for money laundering and irregular investment scams. When questioned about these entities, the company directors denied any connection, further raising suspicions of a money laundering conspiracy.

So far, the ED has frozen 116 bank accounts linked to these companies, including Rs 103 crore in illegal earnings from just 16 accounts.

Source: NDTV