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    Airtel ends all prepaid mobile plans offering 1.5 GB data per day with unlimited calls
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    August 12, 2026
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    Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
    Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
    August 12, 2026
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    Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
    Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.
    August 12, 2026
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    Identity document forgery allegations prompt investigation into fraudulent Aadhaar updates and falsified government and educational certificates.
    Alleged forgery and misuse of identity-related records are under investigation following operations at Aadhaar centres. Seized materials reportedly include forged birth, educational, residence, caste and citizenship certificates, records bearing forged signatures and seals, and equipment used for Aadhaar updates. Four persons were arrested in two operations for allegedly preparing forged records and using them to update Aadhaar cards. Cases have been registered under relevant provisions of the Bharatiya Nyay Sanhita, with investigation continuing into the extent of the alleged network.
    August 12, 2026
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    Holding-company governance succession follows leadership departure, requiring transition planning amid unresolved strategy, capital allocation, board representation and listing questions.
    Tata Sons' leadership succession and governance framework have become central following the chairman's decision not to seek reappointment when his term ends in February 2027. The board has been asked to decide on a successor promptly. Unresolved matters include the strategic roadmap, losses and capital requirements in newer businesses, board representation, capital allocation, an exit route for the Shapoorji Pallonji Group, and the possible listing of Tata Sons. Future leadership must manage these issues while improving returns from investment-intensive businesses and maintaining established operations.
    August 12, 2026
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    Interest-rate regulation for loans and advances proposes harmonised fixed and floating loan-pricing principles across regulated entities.
    Interest-rate regulation for loans and advances is proposed to be harmonised across all regulated entities through a principles-based framework for fixed-rate and floating-rate loans. The framework would be calibrated to each entity's nature, complexity and scale, while supporting monetary policy transmission, credit-risk-based pricing, and fair, non-discriminatory borrower treatment. It addresses divergent commercial-bank practices in determining the marginal cost of funds-based lending rate and its components, alongside limited regulatory coverage of fixed-rate loans. Separate final directions are intended for each category of regulated entity after consideration of feedback.
    August 12, 2026
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    Elevated crude oil prices and Tata leadership transition drove broad equity market selling amid inflation concerns.
    Indian equity markets declined amid elevated crude oil prices, inflation concerns and broad risk-off selling. Tata Group shares, particularly TCS, came under pressure after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends. Crude oil prices approaching the USD 90-per-barrel level affected investor confidence because of potential inflationary effects, while uncertainty over United States-Iran negotiations and Strait of Hormuz shipping disruptions added to global energy market concerns.
    August 12, 2026
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    Trade sovereignty and energy security underpin calls to resist tariff pressure and protect sensitive sectors in bilateral negotiations.
    Trade sovereignty and energy security are advanced as grounds for resisting tariff pressure linked to Indian purchases of Russian crude. Bilateral trade negotiations should proceed through equality, reciprocity and mutual respect without compromising agriculture, dairy, energy security or strategic autonomy. Concerns are also raised over removal of e-commerce inventory restrictions for foreign direct investment and over proposed Merchant Discount Rate charges on UPI transactions. Withdrawal of the inventory measure and opposition to payment-provider charges are urged, alongside possible restrictions on United States technology and social-media companies and consumer boycotts of American goods and services.
    August 12, 2026
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    Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
    Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
    August 12, 2026
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    Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
    Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
    August 12, 2026
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    Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
    Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
    August 12, 2026
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    Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
    Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
    August 12, 2026
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    Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels.
    CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
    August 12, 2026
    Show AI Summary
    Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
    India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
    August 12, 2026
    Show AI Summary
    AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
    AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
    August 11, 2026
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    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
    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
    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
    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
    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
    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.

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      Trump departs White House to visit disaster zones in North Carolina, California

      January 24, 2025

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      Washington, Jan 24 (AP) President Donald Trump headed to hurricane-battered North Carolina and wildfire-ravaged Los Angeles on Friday, using the first trip of his second administration to tour areas where politics have clouded the response to deadly disasters.

      The Republican president has criticized former President Joe Biden for his administration's response to Hurricane Helene in North Carolina. As he left the White House, he told reporters that “it's been a horrible thing the way that's been allowed to fester” since the storm hit in September, and "we're going to get it fixed up”.

      Trump has also showered California leaders with disdain for water policies that he falsely claimed worsened the recent blazes. He said he would “take a look at a fire that could have been put out if they let the water flow, but they didn't let the water flow”.

      In North Carolina, Trump will receive a briefing on recovery efforts and then travel to a small town outside Asheville to meet with residents who have been helped by Samaritan's Purse, a humanitarian organization headed by evangelical leader Franklin Graham.

      Once in California, Trump plans to tour the Pacific Palisades neighbourhood, where rows and rows of homes burned to the ground. He's expected to receive a briefing on the fires, which are ongoing, with thousands of people under evacuation orders.

      Members of Congress will also be at the briefing, and any meeting could prove contentious. Trump has suggested using federal disaster assistance as a bargaining chip during unrelated legislative negotiations over government borrowing, or as leverage to persuade California to change its water policies.

      “Playing politics with people's livelihoods is unacceptable and a slap in the face to the Southern California wildfire victims and to our brave first responders,” said Rep. Young Kim, a Republican from Orange County, south of Los Angeles, in a recent statement.

      The trip comes as Trump considers overhauling the Federal Emergency Management Agency. Some of his conservative allies have proposed reducing how much the agency reimburses states for handling floods, hurricanes, tornadoes and other calamities.

      Trump has a history of injecting politics and falsehoods into disaster response. During his first term, he talked about limiting help for Democratic states that didn't support him, according to former administration officials. While running for president last year, he claimed without evidence that Democrats were “going out of their way to not help people in Republican areas” of the battleground state of North Carolina.

      He's also been focused on California water policies, specifically fish conservation efforts in the northern part of the state.

      “I don't think we should give California anything until they let the water run down,” Trump said on Wednesday in an interview with Fox News Channel's Sean Hannity.

      The president also suggested shifting more responsibility to individual states for managing disasters.

      “I'd rather see the states take care of their own problems,” he told Hannity, adding that “FEMA is getting in the way of everything”.

      Michael Coen, who served as chief of staff at FEMA during the Biden administration, said Trump was “misinformed” about an agency that provides critical help to states when they're overwhelmed by catastrophe.

      In addition, Coen criticised the idea of attaching strings to assistance.

      “You're going to pick winners and losers on which communities are going to be supported by the federal government," he said. "I think the American people expect the federal government will be there for them on their worst day, no matter where they live.” The last time Trump was president, he visited numerous disaster zones, including the aftermaths of hurricanes and tornadoes. He sometimes sparked criticism, like when he tossed paper towels to survivors of Hurricane Maria in Puerto Rico.

      “If you're a disaster survivor, no matter who you voted for, it's always good when the president comes to town,” said Pete Gaynor, who headed FEMA during the first Trump administration between 2019 and 2021. “You can see him and hopefully talk to him about what you need in your community.” Laurie Carpenter, a 62-year-old retiree in Newland, North Carolina, said she's looking forward to Trump's visit because she's been disappointed by the federal response. She said there's still debris and trash strewn around her part of the state months after Hurricane Helene.

      “If anybody's going to do something about it, I think he will,” Carpenter said.

      Trump tapped Cameron Hamilton, a former Navy SEAL with limited experience managing natural disasters, as FEMA's acting director. He also said individual states should be in charge of directing response to natural disasters rather than FEMA, and that the federal government should only step in subsequently to provide funding.

      Biden vowed before leaving office that the federal government would cover all the costs of responding to the wildfires around Los Angeles, which could end up being the costliest natural disasters in US history. However, that promise won't be kept unless Congress comes up with more funding.

      Friday's trip could prompt some uncomfortable conversations about climate change, which Trump has played down and denied. Both Hurricane Helene and the Los Angeles wildfires were exacerbated by global warming.

      In Helene's case, a study by international climate scientists at World Weather Attribution found that climate change boosted the storm's rainfall by 10 per cent. In California, the state suffered a record dry fall and winter — its traditional wet season — which made the area around Los Angeles more vulnerable to blazes.

      “This is just breaking our comfort zone of what is supposed to be normal,” said University of Oregon researcher Amanda Stasiewicz.

      After visiting North Carolina and California, Trump plans to hold a rally Saturday in Las Vegas. Advisers said he will offer details on keeping a campaign promise to exclude tips from federal taxes, while revelling in having won Nevada in an Election Day upset.

      “I'm going to go to Nevada to thank them,” Trump said. He was the first Republican candidate to win the state since 2004, when George W. Bush beat John Kerry.

      Las Vegas' 24-hour economy is fuelled by the hospitality and service industries, where everyone from restaurant waiters to valet parkers to hotel maids relies on gratuities. However, exempting them from taxes would likely be difficult to implement and require an act of Congress to remain permanent. (AP) PY PY

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