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August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
August 10, 2026
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MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
August 10, 2026
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Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
August 10, 2026
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Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
August 10, 2026
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Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
August 10, 2026
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Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
August 10, 2026
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Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
August 10, 2026
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Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
August 10, 2026
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Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
August 10, 2026
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Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
August 10, 2026
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GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
August 10, 2026
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Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
August 10, 2026
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Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
August 10, 2026
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Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.
August 10, 2026
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Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
August 10, 2026
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Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.

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Loan Recoverability of Banks

April 7, 2018

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As per Reserve Bank of India (RBI) guidelines, banks are to have a loan recover policy, prepared and duly vetted by their boards. A number of mechanisms are available to banks to effect recovery, such as filing of a suit in Civil courts or in Debts Recovery Tribunals and action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. In addition, the Insolvency and Bankruptcy Code, 2016 has been enacted for time-bound resolution of stressed assets. Further, the Banking Regulation Act, 1949 has been amended to provide for authorisation by the Government to RBI, for issuing directions to banks to initiate the insolvency resolution process under the Code, and in pursuance of such directions, banks have filed applications in case of severs/large credit exposures before the National Company Law Tribunal. Further, keeping in view the enactment of the Code, RBI has recently issued a Revised Framework for Resolution of Stressed Assets, which provides for time-bound resolution of high-value stressed accounts.

 As per data reported by PSBs, 1,77,614 properties have been attached and auctioned by them and an amount of ₹ 15,196 crore has been recovered during the financial years 2014-15 to 2017-18 (till 31.12.2017).

 As per RBI data on global operations, as on 31.12.2017, the details of Gross Loans and Advances of Scheduled Commercial Banks, are given below. 

Gross Loans and Advances of Scheduled Commercial Banks, as on 31.12.2017

Amounts in crore Rupees

Bank Name

Gross Loans and Advances

AB Bank Limited

5

Abu Dhabi CommercialBank PJSC

1,48

AllahabadBank

1,61,79

AmericanExpress Banking Corp.

4,46

Andhra Bank

1,51,49

Australiaand New Zealand Banking Group Limited

2,21

Axis Bank Limited

4,32,35

Bandhan Bank Limited

23,13

Bank of America, NationalAssociation

13,18

Bank of Bahrain and Kuwait B.S.C.

1,29

Bank of Baroda

4,28,71

Bank of Ceylon

31

Bank of India

3,79,53

Bank of Maharashtra

95,169

Bank of Nova Scotia

3,880

Barclays Bank PLC

10,500

BNP Paribas

20,037

Canara Bank

3,88,518

CapitalSmall Finance Bank Limited

1,583

CatholicSyrianBank Ltd.

9,772

CentralBank of India

1,79,702

CitibankN.A

57,597

CityUnionBank Limited

26,089

CooperatieveRabobankU.A.

2,277

CorporationBank

1,37,049

CreditAgricoleCorporateAnd Investment Bank

4,796

CreditSuisse AG

929

CTBC Bank CoLtd..

520

DBS Bank Ltd.

18,605

DCB Bank Limited

18,799

Dena Bank

72,443

Deutsche Bank AG

38,472

Doha Bank QSC

631

Emirates NBD Bank (P.J.S.C.)

277

Equitas Small Finance Bank Limited

7,166

Federal Bank Ltd.

85,922

First Abu Dhabi Bank PJSC

-

FirstrandBank Ltd.

319

HDFC Bank Ltd.

6,36,640

Hongkongand Shanghai Banking Corpn.Ltd.

45,655

ICICI Bank Limited

5,27,145

IDBI Bank Limited

2,04,768

IDFC Bank Limited

49,398

Indian Bank

1,53,120

Indian Overseas Bank

1,51,536

IndusInd Bank Ltd.

1,29,449

Industrialand CommercialBank of China

839

IndustrialBank of Korea

83

Jammu & Kashmir Bank Ltd.

61,853

JP Morgan Chase Bank NationalAssociation

10,209

JSC VTB Bank

12

KarnatakaBank Ltd.

44,917

Karur VysyaBank Ltd.

44,836

KEB Hana Bank

244

Kotak MahindraBank Ltd.

1,61,086

Krung Thai Bank PublicCompanyLimited

5

LakshmiVilas Bank Ltd.

25,231

Mashreq Bank PSC

167

Mizuho Bank Ltd.

9,141

NainitalBank Ltd.

3,463

NationalAustraliaBank

204

OrientalBank of Commerce

1,62,512

Pt Bank MaybankIndonesia TBK

143

Punjab and Sind Bank

64,273

Punjab NationalBank

4,74,952

Qatar NationalBank SAQ

-

RBL Bank Limited

37,113

Sberbank

206

SBM Bank (Mauritius) Ltd.

1,266

Shinhan Bank

5,227

Societe Generale

2,582

Sonali Bank

35

South Indian Bank Ltd.

52,184

Standard CharteredBank

72,956

State Bank of India

19,24,592

SumitomoMitsui Banking Corporation

6,812

SyndicateBank

2,19,449

TamilnadMercantileBank Ltd.

22,227

The Bank of Tokyo-MitsubishiUFJ Ltd.

9,821

The DhanalakshmiBank Ltd.

6,409

The RoyalBank of Scotland PLC

115

UCO Bank

1,22,948

UnionBank of India

3,14,474

United Bank of India

68,250

United Overseas Bank Ltd.

807

VijayaBank

1,10,622

Westpac Banking Corporation

796

Woori Bank

960

Yes Bank Ltd.

1,72,894

Source: RBI (global operations)

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha.

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