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    Sebi board approves slew of reforms; widens investment avenues, FPI access
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    K'taka Deputy CM Parameshwara rejects Opposition's allegation of 'bankruptcy'
    EOW registers case against businessman, 4 others for ''forgery, unauthorised transactions''
    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
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September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
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Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
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Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
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Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
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BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.

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Rajasthan Cabinet approves textile and apparel policy, data centre policy and logistics policy

February 4, 2025

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Jaipur, Feb 4 (PTI) The Rajasthan Cabinet chaired by Chief Minister Bhajanlal Sharma on Tuesday took various important decisions, including a new textile and apparel policy, data centre policy and logistics policy for industrial and economic development of the state.

The committee approved new youth policy for the accomplishment of the resolution of developed Rajasthan by making the youth capable and empowered, bringing Rajasthan Universities Laws (Amendment) Bill to give the title of 'Kulgurus' to the vice-chancellors of universities, bringing Rajasthan Land Revenue (Amendment Validation) Bill with the aim of accelerating the development of RIICO industrial areas and amendment in personnel welfare and service rules.

The state government wants to establish the state as a global manufacturing hub in the field of textiles and apparel, Parliamentary Affairs Minister Jogaram Patel and PHED Minister Kanhaiya Lal said after the cabinet meeting.

Keeping this in mind, the Rajasthan Textile and Apparel Policy-2025 approved in the cabinet today will promote sustainable and holistic development of the textile and apparel sector in the state as well as employment generation, skill development, innovation, productivity and export in this sector.

He said it will also increase the efficiency and reliability of local textile producers at the global level. The textile producers of the state will benefit from this policy and new employment opportunities will be created with a potential investment of about Rs 40,000 crore in the state.

Patel said that keeping in view the growing influence of information technology, Rajasthan Data Center Policy-2025 was approved by the cabinet to encourage the establishment of data centers in the private sector in Rajasthan.

The objective of this policy is to develop a world-class data center ecosystem in the state and make Rajasthan a major destination in the data center sector.

This policy will make the efficiency, security and reliability of the activities of the data centers to be established in the state effective.

In this policy, many provisions have been made to encourage the data center sector, including asset creation incentive, sunrise incentive, interest subsidy, exemption in banking, transmission and wheeling charges, flexible payment facility related to land, exemption in stamp duty, land conversion and electricity charges and exemption from external development fee, Patel said.

He said that an investment of about Rs 20,000 crore is likely to come in the state in the next five years with the implementation of this policy.

The minister said that Rajasthan Logistics Policy-2025 was approved by the cabinet with the aim of promoting industrial development in the state and reducing logistics costs by increasing connectivity.

This policy will prove helpful in mapping logistics facilities and generating employment by attracting private investment in the logistics sector.

Under Rajasthan Logistics Policy-2025, attractive provisions have been made for various concessions in taxes and duties including capital subsidy, interest subsidy for warehouse, silo, cold storage, inland container depot, container freight station, air freight station, cargo terminal, trucker park, private multi-model logistics park and integrated logistics park developers.

A maximum of 10 acres or 10 per cent of allocable land in the upcoming industrial areas of RIICO will be reserved for logistics facilities.

Lal said that through the Rajasthan Youth Policy-2025 approved by the cabinet, youth access to quality education, skills, health, employment, entrepreneurship and basic rights will be ensured. This policy will replace the Youth Policy-2013.

The new youth policy will encourage youth participation in various fields including social, economic, political and cultural fields. Through this policy, emerging talents in fields like art, sports, culture and literature will also be supported, he added.

Talking about the merger of Rajasthan Tax Board with Revenue Board, Patel said that after the implementation of GST system from the year 2017, the work of Rajasthan Tax Board had become limited. In view of this, it has been decided to merge Rajasthan Tax Board with Rajasthan Revenue Board.

This will strengthen the institutional framework for timely disposal of revenue and tax related appeals in the state, he said.

Lal said that to provide the opportunity of fourth promotion in the Rajasthan Industries Service (State Service) cadre in line with other state services, the post of senior additional commissioner will be created in the Department of Industries and Commerce. A notification will be issued to include this post in the appendix of Rajasthan Industries Service Rules-1960.

At present, only three opportunities for promotion are available in this cadre.

He said that a proposal to amend the Rajasthan Vidhan Sabha Secretariat (Recruitment and Conditions of Service) Rules-1992 and add a new entry to create a new post of chief editor in the Rajasthan Vidhan Sabha Secretariat was approved today.

By creating a new post of chief editor, the benefit of promotion in the Reporter cadre in the Rajasthan Vidhan Sabha Secretariat will be available soon.

Patel informed that in the budget for the year 2024-25, it was announced to confer the title of 'Kulgurus' to the Vice Chancellors of the State Universities of the state.

In compliance with this budget announcement, the cabinet has decided to amend the Acts of all 33 State Universities operating under the Higher Education Department and various departments of the state through an amendment bill.

Patel informed that MoUs worth Rs 35 lakh crore have been signed in the Rising Rajasthan Global Investment Summit. Of these, the maximum MoUs worth more than Rs 28 lakh crore have been signed in the energy sector, as a result of which the state is moving towards becoming an energy surplus state.

In this sequence, 292.53 hectares of land in villages Basda, Magra, Kotha and Devda of Fatehgarh tehsil in Jaisalmer district will be allotted for 200 MW solar project, 672.59 hectares of land in villages Kotha and Harbha of Fatehgarh tehsil for 358.83 MW solar project, 162 hectares of land in revenue village Nagarada and village Kalijal of Shiv tehsil of Barmer district for 300 MW solar project and 119.4 hectares of land in village Nokh of Bap tehsil of Phalodi district for 59.9 MW capacity will be allotted. PTI AG AS AS

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