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    Trump used to slam China. Here's why he's now rolling out the red carpet for Xi
    RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
    LPG subsidy: Aadhaar biometric authentication mandatory for subsidised refills from Oct 1
    RBI orders removal of Maharashtra minister Babasaheb Patil, 7 others as directors of Latur DCC Bank
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September 20, 2026
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Tariff policy and trade truce reshape bilateral engagement as rare-earth leverage limits coercive economic measures.
United States-China trade relations are being conducted through continued tariff policy, prior export restrictions, and a trade truce after escalating tariffs did not achieve their intended effect of changing Chinese economic conduct. China's concentrated supply of rare-earth inputs used in electronics provided negotiating leverage and contributed to the trade armistice. Indications that Chinese goods are routed through third countries to lessen tariff exposure qualify the decline in the bilateral goods imbalance. Continued tariffs have not constrained China's manufacturing expansion or its access to export markets.
September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
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Biometric Aadhaar authentication becomes essential for domestic LPG consumers seeking regulated subsidised refill bookings, while market-price supply remains available.
Biometric Aadhaar authentication is required from October 1 for domestic LPG consumers to book subsidised refills at the regulated retail selling price. Authentication can be completed through delivery personnel, distributor showrooms or designated mobile applications. Consumers unwilling or unable to authenticate may obtain LPG at the applicable market price without subsidy after registering their choice through specified digital channels. The framework distinguishes subsidised LPG linked to Aadhaar-authenticated consumers from market-priced LPG and seeks targeted subsidy delivery, reduced leakage, and prevention of diversion, duplicate connections and ineligible access.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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Tariff treatment of Indian exports shifted from reciprocal duties to targeted trade measures, sectoral duties, and specified exemptions.
Upon expiry of the temporary global measure, an India-targeted 10 per cent Section 301 tariff, linked to forced-labour concerns, replaced it; the effective charge for most covered exports remained MFN duty plus 10 per cent. The current regime applies the Section 301 tariff to Indian exports except specified goods, with separate sectoral duties on steel, aluminium and auto components. Smartphones, medicines and energy products are exempt.
September 19, 2026
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PMLA-based FIR request over alleged consultancy payments remains under legal examination amid criticism of non-registration.
Enforcement Directorate sought registration of an FIR concerning alleged fraudulent payments by Cochin Minerals and Rutile Ltd to Exalogic Solutions, represented as IT consultancy fees. The request relied on evidence gathered through investigation and searches under the Prevention of Money Laundering Act. Registration remained under consideration after receipt of the Advocate General's legal opinion, with the Home Department examining the matter.
September 19, 2026
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Free trade agreements expand market access, entrepreneurial partnerships and youth career opportunities alongside public-sector recruitment and development participation.
Free Trade Agreements are presented as mechanisms for expanding cross-border partnerships, market access for entrepreneurs, and career opportunities for young persons. Youth employment is also linked to the expansion of the startup ecosystem beyond major cities and to public-sector recruitment through Rozgar Melas. Newly selected candidates are to join central government ministries, departments and organisations. Public service is framed around citizen-centred administration and decisions supporting a developed and self-reliant India.
September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.
September 19, 2026
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Recurring token reward distributions connect eligible holdings, platform activity, and partner participation through hourly settlement cycles.
BC Engine permits eligible $BC holdings to participate in hourly settlement rounds distributing BCD rewards. Participants can monitor active balances, cumulative rewards, unclaimed BCD, and settlement history through the Engine interface. Settlement amounts vary with ecosystem activity, while the mechanism links platform activity, token utility, user participation, and commercial partners through repeated value distribution rather than one-time promotional incentives.
September 19, 2026
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Asset monetisation of surplus public land and buildings is accelerated through transparent, value-oriented processes and stakeholder coordination.
NLMC's Board recommended monetisation proposals involving surplus land and building assets valued at over Rs. 5,000 crore. Monetisation is facilitated through asset identification, due diligence, valuation and appropriate process structuring, with emphasis on transparency, efficiency and value realisation. Sustained coordination with asset-owning entities is intended to expedite implementation and support timely, commercially appropriate monetisation of underutilised public assets.
September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.
September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.

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Chaya M V of Bengaluru bags the 'Spell Master of India' Title at SBI Life Spell Bee Season 14, thereby empowering India's youth to be spellbound and spark progress to fulfill their dreams

December 30, 2024

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MUMBAI, India, Dec. 30, 2024 /PRNewswire/ -- SBI Life Spell Bee Season 14, India's most prestigious spelling competition, an initiative by SBI Life Insurance and Mirchi, concluded with a thrilling Grand Finale in Kolkata. SBI Life Spell Bee Season 14 has crowned its Champion, with Ms. Chaya M V, age 13 years from Presidency School, RT Nagar, Bengluru, studying in class VIII bagging the 'Spell Master of India' National Title. Amidst an atmosphere brimming with enthusiasm and excitement, the event culminated in the announcement and felicitation of the National Champion, whose outstanding performance throughout the competition reflected exceptional skill, dedication, and a deep passion for language. The runners-up of this competition, Mr. Medhansh Vaddadi, age 13 years from Cambridge Court High School, Jaipur, and Mr. Yashwin Pachauri, age 14 years from Kennedy High Global School, Hyderabad, too demonstrated commendable skills at the SBI Life Spell Bee Grand Finale. These young minds stood out as deserving winners, showcasing their precision and confidence in navigating complex words.

The event was graced by Indian Actress, Fashion Designer and Television Presenter, Ms. Mandira Bedi, who enthusiastically hosted the Grand Finale of SBI Life Spell Bee Season 14 and revealed the winners. The National Champion of SBI Life Spell Bee Season 14 was awarded the prestigious grand prize of INR 1,00,000/- along with an all-expenses-paid expedition to Disneyland, Hong Kong, accompanied by their parents.

This year's competition theme, 'Be Spellbound', emphasizes the power of words and spellings to change the way youngsters of today express themselves. It signifies SBI Life's commitment to foster growth opportunities for India's young population. The theme aligns with the brand's core values, emphasizing the importance of exploring possibilities, shaping their growth story, and, thereby, their efforts contributing to the nation's progress.

Mr. Ravindra Sharma, Chief of Brand, Corporate Communications and CSR at SBI Life Insurance, commented on the success of the partnership, saying, "With the culmination of another chapter of SBI Life Spell Bee Season 14, we would like to congratulate not just the winners but also all the children who participated with incredible enthusiasm and grit. We believe in the transformative power of early opportunities, as they lay the foundation for a lifetime of lasting and meaningful impact. Through this initiative, we aim to offer young minds a platform that empowers them to break free and pursue their dreams, while also supporting the aspirations of their loved ones as they progress in life. We believe that each child has unique capabilities, and by providing the right platform, we hope to cultivate an environment that promotes continuous learning and development." "At SBI Life, we are committed to empowering young minds, paving the way for a brighter future not only for them but also for their loved ones. This belief aligns perfectly with our core philosophy of 'Apne Liye, Apno Ke Liye'. With SBI Life Spell Bee, our intent is to create a legacy of constant support, which results in shaping the aspirations of the youth in the coming years. This initiative mirrors our resolve to empower the young minds and provide them the opportunity to spark progress and shine on a national level," he added .

Elated on the win, Ms. Chaya M V, the 'Spell Master of India - SBI Life Spell Bee Season 14, expressed her excitement, saying, "When I won this, I felt truly ecstatic. When we received the first rounds of tests as MCQs, we threw caution to the wind and began with low hopes for the first 70-ish words. Those were — in my opinion — the hardest words by far, solely due to the added options. When I qualified for the regional and later national levels, I took immense efforts to reach the top ten! Overall, it was quite a surprising journey with a lot of wonderful people, places, and experiences. I never really practiced much, but I read a lot of books and have been exposed to a lot of different words, especially from fantasies. I truly feel that my obsession has led to this success. I have been blessed with lots of support from numerous people, including my family and teachers and also my friends, who have been pestering me with pronunciations ever since." Ms. Pooja Gulati - National IP Director, ENIL, Entertainment Network India Limited, said, "We are really proud of the way the common vision between SBI Life Insurance and Mirchi is aiding students academically. In its 14th Season, SBI Life Spell Bee has grown, and the competition and participants have stayed true to their promise. They left us spellbound. We look forward to making the initiative even bigger in the coming season, to make it far more exciting for spellers and viewers." This season drew participation from over 2 lakh students across 500 schools in 30 cities, making it a multifaceted competition spread over five challenging phases. The competition commenced with intra-school contests, followed by inter-school competitions. Advancing through city-level and regional finales, the top 54 participants reached the highly anticipated National Finale, which was simulcast on Nickelodeon, Nick Jr., Sonic and HD+. It is also available to watch on Jio Cinema.

About SBI Life Insurance SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.

Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.

Driven by a 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing a hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.

SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,082 offices, 24,939 employees, a large and productive network of about 264,058 agents, 79 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 140 brokers and other insurance marketing firms.

In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.

SBI Life strongly encourages a culture of giving back to the society and has made substantial contributions in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2023–24, the Company touched over 1.05 lakh direct beneficiaries through various CSR interventions.

Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of Rs. 20.0 billion and a paid up capital of Rs. 10.0 billion. The AuM is Rs. 4,389.5 billion.

For more information, please visit our website www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn.

(Numbers & data mentioned above are for the period ended September 30, 2024) Photo: Embedded Media (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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