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    11th Meeting of National Traders’ Welfare Board Convened in New Delhi
    DRI seizes 9.40 kg foreign-origin gold worth around Rs. 15 crore at Mumbai airport; three arrested
    DRI seizes over 125,000 kg foreign-origin smuggled areca nuts and 41,000 kg poppy seeds worth around Rs. 20.31 crore in Assam and Mizoram in a crackdo...
    Envision Energy Secures TÜV SÜD Certificate for Wind Farm Control System, Strengthening Long-Term Resilience for Future Energy Systems
    India's forex reserves fall USD 14.89 bn to USD 766 bn: RBI data
    No commitment given to bank unions on 5-day work week by Finance Ministry, say sources
    Ethanol can help raise farmers' income and reduce fuel imports: Gadkari
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    Check Credit Score and Understand Credit Health with the Bajaj Finance Credit Pulse Report
    Europe uses subsidies, taxes and policy pauses to offset pain of high fuel prices
    Loyalty Juggernaut Advances Responsible AI with ISO/IEC 42001 Certification
    Draft Warehousing Operations Regulations, 2026 - uploading on the CBIC website for inviting comments/views/suggestions from stakeholders
    From Digital Banking to Resilient Banking – Technology, Cyber Security and AI as Pillars of Trust - Address by Shri Rohit Jain, Deputy Governor at t...
    Union Minister of Commerce and Industry Shri Piyush Goyal Highlights India’s Expanding Global Economic Engagement and Growing Integration with Globa...
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    K'taka Deputy CM Parameshwara rejects Opposition's allegation of 'bankruptcy'
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September 25, 2026
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Trader welfare policy discussions covered GST reform, digital commerce, finance access, export promotion, and coordinated institutional support.
Deliberations covered GST rationalisation, refund delays, audit duration, amnesty schemes, input tax credit anomalies and pending appeals, alongside proposed inclusion of traders in MSME facilitation committees, a centralised loan portal with a 30-day timeline, CIBIL score reforms and grievance helplines. Trader welfare measures considered timely contractor payments, safeguards against technical penalties, loan-repayment flexibility during lean periods and stronger Centre-State coordination.
September 25, 2026
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Gold smuggling through powdered gold concealed in food products led to seizure and arrests under customs law.
Intelligence-led interception and baggage examination identified foreign-origin gold converted into fine powder and mixed with packaged food products of similar colour, texture and consistency. Segregation and assaying yielded 9.40 kg foreign-origin gold, which was seized under the Customs Act, 1962. Questioning linked the passengers to the same organised gold-smuggling syndicate, and they were arrested under that Act.
September 25, 2026
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Customs seizure of suspected smuggled areca nuts and restricted poppy seeds followed intelligence-led cross-border enforcement operations.
Intelligence-led customs enforcement in Mizoram and Assam resulted in seizure, under the Customs Act, 1962, of suspected foreign-origin areca nuts and poppy seeds believed on preliminary inquiry to have been smuggled from Myanmar. Searches of locked, unattended godowns near the Indo-Myanmar border recovered the commodities, while interception of two trucks carrying poppy seeds without valid import documents led to seizure of the consignments and vehicles. Four persons connected with transportation of the poppy seeds were arrested.
September 25, 2026
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Industrial control system cybersecurity certification validates system-level protection across wind farm controls, networks, and lifecycle security services.
IEC 62443-3-3 Security Level 2 certification applies to a wind farm control system covering SCADA, PPC, PLC and industrial network devices. It assesses system-level security requirements, including the interaction of components, networks and security mechanisms within an overall industrial control environment. The cybersecurity framework also spans secure development, certified core control components, system-level protection, and security integration and maintenance services across the lifecycle of wind energy technologies.
September 25, 2026
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Foreign exchange reserve composition reflects a weekly decline driven by foreign currency assets despite a modest gold increase.
India's foreign exchange reserves declined by USD 14.881 billion to USD 765.901 billion for the week ended 18 September 2026. The contraction was principally driven by a reduction in foreign currency assets, which also reflect valuation effects from movements in non-US reserve currencies. Gold reserves increased, while Special Drawing Rights decreased and the reserve position with the International Monetary Fund remained reported separately.
September 25, 2026
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Five-day banking proposal remains under consideration amid strike plans and measures for uninterrupted banking and advance disbursements.
Five-day banking remains under governmental consideration, with no Finance Ministry commitment to implementation. Unions linked the proposal to the 12th Bipartite Settlement/9th Joint Note, which contemplated extended Monday-to-Friday working hours. Family pension revision and a pension option for resignees were identified as addressed, while withdrawal of the Performance Linked Incentive scheme remains in abeyance. Public sector banks were instructed to remain open on the preceding Sunday, and central government salaries, wages and pensions were directed to be disbursed in advance.
September 25, 2026
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Alternative fuel transition promotes ethanol, electric and hydrogen mobility to reduce imports, pollution, and strengthen farm income.
Alternative-fuel and public-transport measures seek to reduce dependence on imported petroleum, curb air pollution, and support farmer income and employment. Ethanol is positioned as a farm-income source through increased demand and returns for maize growers, alongside electricity, hydrogen and waste-derived CNG. Development and introduction of flex-fuel vehicles, using engines capable of operating on ethanol, electric tractors, hydrogen-powered vehicles and hydrogen buses form part of a cleaner-mobility strategy.
September 25, 2026
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Foreign-exchange market intervention expectations supported rupee appreciation amid improved risk sentiment, while importer demand and crude prices constrained gains.
Foreign-exchange market conditions supported a 19-paise appreciation of the rupee to 95.80 against the US dollar, aided by improved global risk sentiment and expectations of Reserve Bank intervention. Dollar demand from importers, high crude prices and US dollar strength constrained gains. Lower crude prices and dollar weakness could support the rupee, while geopolitical escalation may create pressure. Market participants expected intervention if the currency weakened toward 96.
September 25, 2026
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Credit health assessment combines score, repayment history, utilisation, accounts and enquiries to support informed borrowing and profile monitoring.
Credit health is broader than a numerical credit score and encompasses the way credit has been managed over time. Credit analysis requires a combined review of the score, repayment history, credit accounts, credit utilisation, credit history and credit enquiries. A credit report may identify management of EMIs and credit-card dues, existing borrowing obligations, use of revolving credit relative to available limits, and recent lender checks associated with credit applications. Incorrect or unfamiliar entries may be reviewed and, where necessary, raised with the relevant lender or credit bureau.
September 25, 2026
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Fuel-price mitigation measures use tax reductions, targeted subsidies and energy-security policies to ease pressure on households and energy-intensive industries.
European fuel-price intervention combines targeted subsidies, fuel-tax reductions, temporary regulatory flexibilities and energy-security investment to moderate the economic effects of sharply higher gasoline and diesel prices caused by disrupted supplies. Member States have temporary discretion to grant state aid to households and energy-intensive sectors, including agriculture, transport and fishing, and limited flexibility under EU spending rules for investments that improve energy security and reduce dependence on imported fossil fuels.
September 25, 2026
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AI management certification anchors responsible lifecycle governance, transparency, accountability, security, and human oversight for agentic loyalty systems.
ISO/IEC 42001:2023 certification applies to an Artificial Intelligence Management System governing AI development, deployment, oversight and continual improvement within the GRAVTY platform. The framework supports AI-related risk management, responsible governance, transparency, accountability, security and human oversight throughout the AI lifecycle. Its scope includes supervised and unsupervised learning models and large language models supporting personalised engagement, fraud management, loyalty intelligence, autonomous decision-making, operational automation and workflow support.
September 25, 2026
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Digital warehousing controls propose electronic tracking, secure transport, monthly returns, and risk-based compliance verification for warehoused goods.
Draft Warehousing Operations Regulations, 2026 would require public and private warehouse licensees to use the electronic portal and a digital warehouse management system for receipt, storage, transfers, removals and accounting of warehoused goods. Transport would generally require a one-time-lock and transit-risk insurance, subject to specified exemptions. Licensees would verify locks and goods, report discrepancies, maintain auditable electronic records, submit monthly returns, and permit removals for home consumption or export only upon electronic clearance orders. Non-confirmation, discrepancies and contraventions would trigger information demands, risk-based verification and action under the Customs Act.
September 25, 2026
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Technology risk governance requires banks to retain accountability, test resilience, and govern artificial intelligence before scaling financial services.
Technology risk governance must treat technology architecture as a first-order enterprise risk, alongside conventional financial risks, because the availability and integrity of core banking, payments, onboarding, credit, fraud-monitoring and reporting systems determine whether customers can access essential financial services. Banks may outsource technology functions but retain accountability for access controls, concentration, recoverability, data protection and exit options. Effective resilience requires secure architecture, asset visibility, timely remediation of vulnerabilities and legacy systems, identity and access management, effective controls, third-party oversight, post-incident learning, and regular recovery testing.
September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
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.

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Trump, Musk's dismantling of government is shaking foundations of US democracy

February 5, 2025

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Washington, Feb 5 (AP) When Elon Musk debuted the Department of Government Efficiency recently at the Capitol, House Speaker Mike Johnson enthusiastically predicted the coming Trump administration would bring “a lot of change around here.” Three weeks in, the change the Trump administration has brought is a disruption of the federal government on an unprecedented scale, dismantling longstanding programmes, sparking widespread public outcry and challenging the very role of Congress to create the nation's laws and pay its bills.

Government workers are being pushed to resign. Entire agencies are being shuttered. Federal funding to states and nonprofits was temporarily frozen. And the most sensitive Treasury Department information of countless Americans was opened to Musk's DOGE team in an unprecedented breach of privacy and protocol.

“This is an erosion of our democracy,” said Brian Riedl, a longtime economic adviser to conservative Republicans, now at the Manhattan Institute think tank.

President Donald Trump has tapped Musk, the world's richest man, to take on inner workings of the world's oldest democracy, and so far the results are stunning, if not alarming and unlawful, being challenged in dozens of court cases nationwide.

Congress is proving little match for DOGE as wary lawmakers watch it march through the bureaucracy. Instead, a rush of lawsuits is demanding interventions to stop the Republican president's team from unilaterally gutting government. And protests are erupting outside government agencies and clogging the congressional phone lines.

“Whatever DOGE is doing, it is certainly not — not — what democracy looks like or has ever looked like in the grand history of this country,” Senate Democratic leader Chuck Schumer said.

"An unelected shadow government is conducting a hostile takeover of the federal government,” Schumer posted on Musk's social media site X.

Musk responded on his platform: “Hysterical reactions like this is how you know that DOGE is doing work that really matters.” Congress has been here before, tested during Trump's first term by his willingness to break the norms and skirt the outer banks of legality, most notably when he steamrolled Congress and poached federal military housing and construction funds to build parts of his promised wall along the US-Mexico border.

But Trump's second-term partnership with Musk, who spent some USD 200 million on Trump's White House bid and employs the tech world ethos of moving fast and breaking things, is escalating the confrontation.

On a stated quest to save money by rooting out waste, fraud and abuse, they are making moves to upend American institutions, decimate the civil service and leave a reformed — or hollowed-out — federal government in its place.

Sharon Parrott, president of the Centre on Budget and Policy Priorities, said it would be “catastrophic to our system of government” if the effort succeeds.

“Many of the things they are doing are brazenly unlawful, and we've seen that the courts have been willing to intervene — and intervene quickly,” Parrott said. “There's a real readiness and understanding of the stakes.” In many ways, Trump is pursuing by force what Republicans have long promised but have been unable to deliver by congressional action: shrinking the size and scope of the federal government.

Anti-tax crusader Grover Norquist quipped more than a decade ago about the goal of making government small enough to drown in a bathtub.

But facing pushback from within their ranks about cutting programmes Americans rely upon, Republicans have repeatedly failed to accomplish their budget-slashing goals even when they fully control Congress and the White House, as they do now.

While Congress has the power to pass legislation to fund government operations, the president can veto bills or sign them into law. Instead, Trump is testing an idea championed by his nominee for budget director, Russ Vought, that the executive has the ability to “impound” federal funds, clawing the money back.

Republican Sen. Kevin Cramer of North Dakota said DOGE provides “cover” for some Republicans who want to cut federal funds, when Congress has failed to do so.

And other Republicans say they are comfortable with Trump's pause of certain federal operations, particularly the US Agency for International Development, which sends aid around the world. Closing the Department of Education is next on deck.

“We've got oversight,” said Republican Sen. Thom Tillis of North Carolina. “If he goes too far, I'll be the first person to step up.” Taken together the actions of the administration and DOGE have been swift, relentless and wide open to debate.

Trump's Office of Management and Budget's move to abruptly freeze federal grants and loans drew outrage nationwide as states and nonprofit organisations feared being locked out of funds they need to provide housing, health care and other services. A day later, the White House reversed course.

The shutdown of funds to USAID is largely seen as a test case for the Impoundment Control Act, which Vought has discussed using as a way to roll back congressionally approved funding. Vought's nomination is on track for Senate confirmation this week, despite all Senate Democrats saying they will oppose him.

And DOGE dipped into the inner-workings of the Treasury Department to access its payment system — and the private information of millions of Americans — in what is widely viewed as a way for the White House to eventually stop federal funds to various entities.

On Monday, US District Judge Loren L. AliKhan said the administration's actions with the federal funding “potentially run roughshod over a bulwark of the Constitution' by interfering with Congress's appropriation of federal funds.” “Defendants' actions appear to suffer from infirmities of a constitutional magnitude," she wrote, extending an order issued last week that had paused OMB's sweeping funding freeze. “The appropriation of the government's resources is reserved for Congress, not the Executive Branch. And a wealth of legal authority supports this fundamental separation of powers.” Sen. Patty Murray of Washington, the top Democrat on the Senate Appropriations Committee, said what gives her pause now is how Congress moves forward with legislation to fund the government by the upcoming March 14 deadline.

“What if we do all that and come to an agreement ... vote it in — and this administration says, 'That's bunk. We don't have to go by that,'” she said. “So the level of trust is at the lowest I have ever seen it here.” Asked if the administration could do what it's doing, Johnson, the speaker, insisted, "There will be an appropriate action for Congress to take, but we haven't yet sorted out what's happening with it.” Pressed if Trump had the authority to shut agencies, he said: “I don't have all the answers.” (AP) GSP

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