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New Delhi, June 27: Former US President Donald Trump on Thursday hinted at a potentially “very big” trade deal with India, weeks after closed-door negotiations between the two countries concluded in Washington.

Speaking at the Big Beautiful Event at the White House, Trump said, “We just signed with China yesterday. We have some great deals. One may be coming up with India — a very big one.” He added that the US would not pursue trade deals with every country, suggesting a selective, strategic approach.

The four-day negotiations focused on expanding market access, reducing tariffs, and addressing non-tariff barriers across industrial and agricultural sectors. The Indian delegation was led by Commerce Ministry’s Rajesh Agrawal, while the US side was headed by officials from the Office of the US Trade Representative.

Sources say the proposed deal aims to boost bilateral trade from $190 billion to $500 billion by 2030.

Union Commerce Minister Piyush Goyal confirmed that talks are ongoing to strike a “fair, equitable, and balanced” agreement. “PM Modi and President Trump met in February 2025 and agreed on the importance of a mutually beneficial trade pact,” he said.

Earlier this month, US Secretary of Commerce Howard Lutnick also indicated that the deal could be finalized soon, noting that both countries are finding common ground.

US-China Deal Also Signed

Trump also mentioned a new trade agreement with China, signed a day earlier, focused on accelerating rare earth shipments to the US. According to a White House official, the pact includes a framework tied to the Geneva agreement, following a period of heightened tensions and stalled trade between the two countries.

A rape case has been filed against Swami Pradiptananda, popularly known as Kartik Maharaj, a monk associated with the Bharat Sevashram Sangha’s Beldanga unit in Murshidabad, West Bengal. The 2024 Padma Shri awardee has been accused by a woman of repeatedly raping her over the past decade under the pretext of offering her a teaching job.

According to the FIR filed with Nabagram police, the woman said she first met Maharaj in December 2012, when he offered her a position at a school run by the ashram. She was accommodated at the school hostel in early 2013 but claims Maharaj began summoning her to a room on the fifth floor and raped her repeatedly. She further alleged that she was also raped at other ashram branches and was forced to undergo an abortion after becoming pregnant that same year.

The survivor said that on June 13 this year, two men claiming to be Maharaj’s associates assaulted her, threatened her to stay silent, and pushed her out of a vehicle near a correctional home after she tried contacting him again.

In her complaint, she also expressed concern that other women may have faced similar abuse. Maharaj has denied all allegations, calling them part of a conspiracy to damage his reputation. “Ask the women who work here — we treat them like mothers,” he said.

The complaint has triggered fresh political debate in the state, especially as it comes close on the heels of a high-profile gangrape case at South Calcutta Law College and last year’s rape and murder of a trainee doctor at RG Kar Medical College — both of which have stirred public anger and political sparring between the ruling Trinamool Congress and the BJP.

Police said an investigation is underway.

Dubai, June 27: HDFC Bank, India’s largest private lender, is under scrutiny in the UAE over allegations it sold high-risk Credit Suisse AT1 bonds to retail investors in violation of regulatory norms.

The bonds — complex instruments meant only for experienced or high-net-worth clients — were wiped out in March 2023 during Credit Suisse’s emergency merger with UBS. Several investors claim HDFC Bank relationship managers misrepresented these as safe, forged financial documents to meet eligibility criteria, and failed to disclose crucial risks.

Dubai resident Varun Mahajan says he lost $300,000 in savings and alleges the bank inflated his net worth to bypass DFSA rules. Another investor, NS from the Philippines, claimed he was sold AT1 bonds using a leverage loan he never applied for. Others, including Indian national Pankaj Sinha and South Africa-based AT, described similar misrepresentation, unauthorized document changes, and manipulation of KYC data.

Legal complaints have been filed in India, the UAE, Bahrain, and DIFC. Investors accuse the bank of misleading them and exposing them to losses running into millions of dollars.

In response, HDFC Bank denied any wrongdoing, stating it follows strict processes and takes action against malpractice. The DFSA has declined to comment due to legal confidentiality.

Internal sources say several HDFC executives have recently resigned, and the Dubai offshore head has been replaced, raising questions about accountability.

Experts say the case exposes regulatory gaps across jurisdictions and may prompt closer scrutiny of how banks operate across borders.