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    August 11, 2026
    Assam Cabinet okays funds for land acquisition for Guwahati satellite city
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case; sent to 7 days' custody
    August 11, 2026
    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
    August 11, 2026
    Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
    August 11, 2026
    Delhi court sets aside summon order in cheque bounce case
    August 11, 2026
    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    August 11, 2026
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    August 11, 2026
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    August 11, 2026
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    August 11, 2026
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    August 11, 2026
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
    August 11, 2026
    PolicyBazaar working with partners to fast-track Assam flood insurance claims
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor scam case
    August 11, 2026
    Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
    August 11, 2026
    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
    August 11, 2026
    Rupee falls 8 paise to 95.38 against US dollar in early trade
    August 10, 2026
    Punjab Assembly passes nine key bills
    August 10, 2026
    Mumbai court denies nod to Nirav Modi's sister to record her statement via video link in PNB case
    August 10, 2026
    'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
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    August 11, 2026
    Assam Cabinet okays funds for land acquisition for Guwahati satellite city
    Show AI Summary
    Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
    Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case; sent to 7 days' custody
    Show AI Summary
    Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
    Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
    August 11, 2026
    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
    Show AI Summary
    GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
    Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
    August 11, 2026
    Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
    Show AI Summary
    Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
    Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
    August 11, 2026
    Delhi court sets aside summon order in cheque bounce case
    Show AI Summary
    Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
    Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
    August 11, 2026
    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    Show AI Summary
    Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
    Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
    August 11, 2026
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    Show AI Summary
    Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
    PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
    August 11, 2026
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    Show AI Summary
    MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
    GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
    August 11, 2026
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    Show AI Summary
    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
    Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
    August 11, 2026
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratories
    Show AI Summary
    Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
    NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
    August 11, 2026
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
    Show AI Summary
    Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
    Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
    August 11, 2026
    PolicyBazaar working with partners to fast-track Assam flood insurance claims
    Show AI Summary
    Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
    Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case
    Show AI Summary
    Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
    Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor scam case
    Show AI Summary
    Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
    August 11, 2026
    Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
    Show AI Summary
    Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
    Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
    August 11, 2026
    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
    Show AI Summary
    Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
    Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
    August 11, 2026
    Rupee falls 8 paise to 95.38 against US dollar in early trade
    Show AI Summary
    Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
    Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
    August 10, 2026
    Punjab Assembly passes nine key bills
    Show AI Summary
    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
    Mumbai court denies nod to Nirav Modi's sister to record her statement via video link in PNB case
    Show AI Summary
    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
    'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
    Show AI Summary
    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.

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      Home› news › Income Tax › 2012 › April, 2012 › This
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      Income Tax

      Education Loan to Minorities.

      April 24, 2012

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      Press Information Bureau

      Government of India

      Ministry of Finance

      24-April-2012 17:41 IST

      Education Loan to Minorities

      India Banks’ Association (IBA) has circulated revised Model Educational Loan Scheme to its member banks. Banks can adopt the scheme with discretion to make changes as deemed fit. The scheme is for all students including students from minority communities.

      Indian Nationals who have secured admission to professional/technical courses in India or abroad through an entrance test/merit based selection process are eligible for educational loans under the scheme.

      Complaints received from various channels regarding non-sanction, non-disbursal, delay in sanction, disbursal of education loans are taken up with the concerned banks for immediate corrective measures.

      The performance of Public Sector Banks (PSBs) under educational loan scheme is reviewed on an ongoing basis. The banks have been advised to ensure that the Educational Loan Scheme is implemented in letter and spirit and that loan applications are disposed of within the prescribed time limit.

      This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Rajya Sabha today.

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