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August 29, 2026
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Shared digital infrastructure for professional services aims to expand technology access, interoperability, capability development and secure adoption across firms.
MCA and IICA are developing a government-backed digital public good ecosystem for domestic professional services, particularly small and medium practices. The framework proposes curated technology access, learning and capability development, and knowledge and practice infrastructure. It is intended to improve access to technology and professional knowledge while complementing existing institutional and market-based systems. Consultations address interoperability, common standards, cybersecurity, affordable access, implementation, change management, openness, competition and technology adoption suited to differing levels of digital readiness.
August 29, 2026
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Methamphetamine trafficking enforcement targets concealed cross-border transport, with seizures, vehicle confiscation, arrests and stringent penalties under narcotics law.
Methamphetamine trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved intelligence-led seizures of tablets in Assam and Mizoram, along with the vehicles allegedly used for transportation and arrests of two vehicle occupants. Field testing indicated the presence of amphetamine. The tablets were concealed in fabricated cavities within a truck and car, with preliminary investigation indicating alleged cross-border smuggling into Mizoram. Methamphetamine is a notified psychotropic substance, and illicit manufacture, possession, transportation and trafficking attract stringent penal consequences.
August 29, 2026
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IPO disclosure integrity triggers one-year market access bar for issuer and promoter-directors over fabricated quotation and misleading financial disclosures.
SEBI restrained Trafiksol ITS Technologies Ltd. and its promoter-directors from accessing or dealing in the securities market for one year and imposed monetary penalties over irregularities in its SME IPO. The action concerned overstated financial disclosures, inadequate disclosure of issue expenditure and a potential merchant-banker conflict, and proposed use of IPO proceeds based on a fabricated software-vendor quotation. The listing was deferred and IPO proceeds were placed in an interest-bearing escrow account. One promoter was directly involved in procuring the quotation, while the other failed to exercise due diligence.
August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
August 28, 2026
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
Show AI Summary
Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
Show AI Summary
Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.

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Union Finance Minister Holds Pre-Budget Consultation Meeting With the Representatives of Trade Union Groups; Skill Development to be Given Priority for Generating Employment Oppurtunities

June 7, 2014

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The Union Finance Minister Shri Arun Jaitley said that skill development would be given priority so that more and more trained workers join the Indian economy. He said that the Government will give due consideration to the Ten Point Joint Charter of Demands given by the Central Trade Unions while formulating the budgetary proposals. The Finance Minister was speaking here today while interacting with the representatives of the Central Trade Unions as part of his Pre-Budget Consultation meetings.

Along with the Finance Minister, the meeting was attended by Ms. Nirmala Sitharaman, Minister of State for Finance and Corporate Affairs, Shri Ratan P. Watal, Expenditure Secretary, Shri Rajiv Takru, Revenue Secretary, Smt. Gauri Kumar, Secretary, Ministry of Labour and Employment and senior officers of the Ministry of Finance among others.

The participating Central Trade Unions gave a joint memorandum to the Finance Minister for his consideration and positive response. Some of the specific proposals contained there in are given below:

  • Take effective measures to arrest the spiraling price rise and to contain inflation; Ban speculative forward trading in commodities; universalize and strengthen the Public Distribution System(PDS); ensure proper check on hoarding; rationalize, with a view to reduce the burden on people, the tax/duty/cess on petroleum products.
  • Massive investment in the infrastructure in order to stimulate the economy for job creation. Public Sector should take the leading role in this regard. The plan and non-plan expenditure should be increased in the budget to stimulate jobs creation and guarantee consistent income to people.
  • Minimum wage linked to Consumer Price Index (CPI) must be guaranteed to all workers, taking into consideration the recommendations of the 15th Indian Labour Conference . It should not be less than Rs. 15,000/- p.m.
  • FDI should not be allowed in crucial sectors like defence production, telecommunications, railways, financial sector, retail trade, education, health and media.
  • The Public Sector Units (PSUs) played a crucial role during the year of severe contraction of private capital investment immediately following the outbreak of global financial crisis. PSUs should be strengthened and expanded. Disinvestment of shares of profit making public sector units should be stopped forthwith. Budgetary support should be given for revival of potentially viable sick CPSUs.
  • In view of huge job losses and mounting unemployment problem, the ban on recruitment in Government departments, PSUs and autonomous institutions (including recent Finance Ministry’s instruction to abolish those posts not filled for one year) should be lifted as recommended by 43rd Session of Indian Labour Conference. Condition of surrender of posts in government departments and PSUs should be scrapped and new posts be created keeping in view the new work and increased workload.
  • Proper allocation of funds be made for interim relief and 7th Pay Commission.
  • The scope of MGNREGA be extended to agriculture operations and employment for minimum period of 200 days with guaranteed statutory wage be provided, as unanimously recommended by 43rd Session of Indian Labour Conference.
  • The massive workforce engaged in ICDS, Mid Day Meal Scheme, Vidya volunteers, guest teachers, Siksha Mitra, the workers engaged in the Accredited Social Health Activities (ASHA) and other schemes be regularized. No to privatization of centrally funded schemes. Universalization of ICDS be done as per Supreme Court directions by making adequate budgetary allocations.
  • Steps be taken for removal of all restrictive provisions based on poverty line in respect of eligibility coverage of the schemes under the Unorganized Workers Social Security Act 2008 and allocation of adequate resources for the National Fund for Unorganised Workers to provide for social security to all unorganised workers including the contract/casual and migrant workers in line with the recommendations of the Parliamentary Standing Committee on Labour and also the 43rd Session of Indian Labour Conference. The word BPL redefined and redistributed at the earliest.
  • Remunerative prices should be ensured for agricultural produce and Government investment, public investment in agriculture sector must be substantially augmented as a proportion of GDP and total budgetary expenditure. It should also be ensured that benefits of the increase reach the small, marginal and medium cultivators only.
  • Budgetary provision should be made for providing essential services including housing, public transport, sanitation, water, schools, crèche, health care etc, to workers in the new emerging industrial areas. Working women’s Hostels should be set-up where there is a concentration of women workers.
  • Requisite budgetary support for addressing crisis in traditional sectors like jute, textiles, plantation, handloom, carpet and coir etc.
  • Budgetary provision for elementary education should be increased, particularly in the context of the implementation of the ‘Right to Education’ as this is the most effective tool to combat child labour.
  • The system of computation of Consumer Price Index (CPI) should be reviewed as the present index is causing heavy financial loss to the workers.
  • Income tax exemption ceiling for the salaried persons should be raised to Rs. 5.00 lakh per annum and fringe benefits like housing, medical and educational facilities and running allowances should be exempted from income tax net in totality.
  • Threshold limit of 20 employees in EPF Scheme be brought down to 10 as recommended by CBT-EPF. Pension benefits under the EPS unilaterally withdrawn by the Government should be restored. Government and employers contribution be increased to allow sustainability of Employees Pension Scheme and for provision of minimum pension of Rs. 3000/- p.m.
  • New Pension Scheme be withdrawn and newly recruited employees of Central And State Governments on or after 1.1.2004 be covered under Old Pension Scheme;
  • Demand for Dearness Allowance merger by Central Government and PSU employees be accepted and adequate allocation of fund for this be made in the budget.
  • All interests and social security of the domestic workers to be statutorily protected on the lines of ILO Convention on domestic workers.
  • The Cess management of the construction workers is the responsibility of the Finance Ministry under the Act and the several irregularities found in collection of cess be rectified as well as their proper utilization must be ensured.
  • In regard to resource mobilization, the Trade Unions have emphasized on the following:
  • A progressive taxation system should be put in place to ensure taxing the rich and the affluent sections who have the capacity to pay at a higher degree. The corporate service sector, traders, wholesale business, private hospitals and institutions etc should be brought under broader and higher tax net. Increase taxes on luxury goods and reduce indirect taxes on essential commodities.
  • Concrete steps must be taken to recover huge accumulated unpaid tax arrears which has already crossed more than Rs. 5.00 lakh crore on direct and corporate tax account alone, and has been increasing at a geometric proportion. Such huge tax evasion over and above the liberal tax concessions already given in the last two budgets should not be allowed to continue.
  • We welcome the constitution of SIT for black money and urge for speedy action.
  • Effective measures should be taken to unearth huge accumulation of black money in the economy including the huge unaccounted money in tax heavens abroad and within the country. Provisions be made to bring back the illicit flows from India which are at present more than twice the current external debt of US $ 230 billion. This money should be directed towards providing social security.
  • Concrete measures be expedited for recovering the NPAs of the banking system from the willfully defaulting corporate and business houses. By making provision in Banking Regulations Act, CMDs and executives to be made accountable for creation of NPAs.
  • Tax on long term capital gains to be introduced, so also higher taxes on the security transactions to be levied.
  • The rate of wealth tax, corporate tax, gift tax etc to be expanded and enhanced.
  • ITES, outsourcing sector, educational institutions and health services etc run on commercial basis should be brought under the Service Tax net.
  • Small saving instruments under postal and other agencies be encouraged by incentivizing commission agents of these scheme.

Other suggestions include holding of post budget consultations with the representatives of Central Trade Unions, need for directional change in policies such as stopping of mindless deregulation, encourage entrepreneurship to tackle problem of unemployment, more spending on education and skill development, removal of ceiling on gratuity, bonus and pension etc of workers and following the principle of “Same work, same wages” among others.

Representatives of different Central Trade Union groups who participated in today’s meeting included Shri B.N. Rai, Bhartiya Mazdoor Sangh (BMS), Shri Chandra Prakash Singh, Indian National Trade Union Congress (INTUC), Shri Shanta Kumar, INTUC, Ms Amarjeet Kaur, Indian National Trade Union Congress (INTUC), Shri D.L. Sachdeva, Indian National Trade Union Congress (INTUC), Shri Sharad Rao, Hind Mazdoor Sabha (HMS), Shri Harbhajan Singh Sidhu, Hind Mazdoor Sabha (HMS),  Shri Swadesh Devroye, Centre of Indian Trade Unions (CITU), Shri Tapan Sen, MP (RS), Centre of Indian Trade Unions (CITU), Shri Dilip Bhattacharya, All India United Trade Union Centre (AIUTUC), Shri Sankar Saha, All India United Trade Union Centre (AIUTUC), Shri Sheo Prasad Tiwari, Trade Union Coordination Centre (TUCC), Shri V.Suburaman, Labour Progressive Federation (LPF), Shri M. Shanmugum, LPF, Shri Prechandan, United Trade Union Congress (UTUC), Shri Abni Roy, United Trade Union Congress (UTUC) and Dr. Virat Jaiswal, National Front of Indian Trade Unions among others.

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