Strengthening Collaboration to Preserve Sovereignty: Collaborative Cash Ecosystems - Global Strategies to Preserve Trust and Sovereignty - Keynote Add...
India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement. India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains. European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages. Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification. Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities. Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.
Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement. Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.
Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning. Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation. India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.
Youth banking outreach promotes campus engagement, financial awareness, responsible credit discipline and long-term access to formal banking services. Public sector banks are urged to conduct a month-long "Banking for Youth" outreach campaign from 2 October 2026 for persons above 16 years of age. Outreach through educational and skill-development campuses should combine account opening, financial awareness and direct engagement. Banks should develop tailored youth strategies to build long-term banking relationships. Proposed measures include online learning content, lifestyle-linked benefits, dedicated youth banking support, and awareness of credit scores, credit products and government credit schemes. A dedicated youth banking-awareness portal may serve as a single access point for appropriate banking services and financial opportunities.
Competition approval for Prudential's acquisition of equity shareholding in an Indian life insurer supports the proposed insurance-sector combination. Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.
Foreign remittance certification due diligence faces nationwide verification targeting shell entities, their controllers, and certifying professionals. Nationwide verification of suspicious outward foreign remittances targets entities with little or no reported business activity, their controllers, and professionals issuing tax determination certificates. Scrutiny concerns remittances disproportionate to reported turnover, inconsistent with stated purposes, or linked to entities not operating from declared addresses. Form 15CB, or Form 146 under the corresponding framework, requires certifying accountants to assess taxability from books of account and relevant records, supporting tax deduction at source and treaty compliance through due care, diligence and professional judgment.
Fair Price Shop regulation introduces graded stock-shortage penalties, mandatory FIRs for major discrepancies, and restructured licensing requirements. Fair Price Shop regulation introduces quantity-based penalties for stock discrepancies, ranging from performance-guarantee forfeiture and replenishment obligations to interim suspension, cancellation-related action and mandatory FIR registration for major shortages. Repeated or deliberate diversion or manipulation of public distribution supplies may lead to cancellation, blacklisting and FIR registration. Licensing now includes continuing regular licences and short-term temporary licences, with wider eligibility, points-based selection, card-linked performance guarantees and compulsory approved e-PoS, weighing-scale and iris-scanner use.
Priority sector lending strengthened rural credit access through agricultural, micro-enterprise and weaker-section finance, reinforcing financial inclusion and sustainable development. Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.
Adjustable pallet racking systems support customised, scalable warehouse storage through configurable layouts, safety assessment, installation and lifecycle support. Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.
Domestic consumption expansion targets lower-tier markets through improved retail channels, distribution networks, employment support and household income opportunities. China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.
Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations. Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions. Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation. Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026. Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion. Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
A revised Agreement and Protocol between India and Finland for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by Sh. S.S.N.Moorthy, Chairman, CBDT on behalf of Government of India and Ms Terhi Hakala, the Ambassador of Finland to India, on behalf of Government of Finland, here today.
As per the revised Agreement, withholding tax rates have been reduced on dividends from 15 percent to 10 percent, and on royalties and fees for technical services from 15 or 10 percent to a uniform rate of 10 percent. Lowering of withholding tax will promote greater investments, flow of technology and technical services between the two countries.
The revised Agreement also expands the ambit of Article concerning Exchange of Information to provide effective exchange of information in line with current international standards. The Article inter-alia provides that a Contracting State shall not deny furnishing of the requested information solely on the ground that it does not have any domestic interest in that information or such information is held by a bank etc. An Article for Limitation of Benefits to the residents of the contracting countries has also been included to prevent misuse of the DTAA.
Other features of the revised Agreement are:-
a) Provisions regarding Service PE has been included in the Article concerning PE.
b) Paragraph 2 to Article 9 has been included to increase the scope for relieving double taxation through recourse to Mutual Agreement Procedure (MAP).
c) A new Article on assistance in collection of taxes has been added to ensure assistance in collection of taxes when such taxes are due under the domestic laws and regulation.
d) The time test for Independent Personal Service has been extended from 90 days or more in the relevant fiscal year to 183 days or more in any period of 12 months commencing or ending in the fiscal year concerned.
The revised DTAA will enter into force after completion of internal processes in both the countries.
Withholding tax reduction enhances cross-border investment and technology transfer, adds information exchange and anti-abuse measures under the revised DTAA.
Revised DTAA reduces withholding taxes on dividends, royalties and technical service fees to a lower uniform rate; expands the Exchange of Information to permit effective sharing including bank held information and where no domestic interest exists; adds a Limitation of Benefits clause to prevent misuse; includes Service PE in the PE rules; broadens relief mechanisms via Mutual Agreement Procedure; introduces assistance in tax collection; and extends the independent personal services time test to a longer 12 month period. Entry into force follows internal procedures in both States.
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