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    ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
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September 4, 2026
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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
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Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
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Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
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Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
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Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
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IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.
September 4, 2026
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Personal security frameworks evolved from elite guards into intelligence-led protection systems, while VIP culture can distort their necessity.
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September 4, 2026
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Rupee exchange-rate movement reflects foreign-currency deposit inflows, central-bank intervention, oil-price risks and changing market risk appetite.
Foreign-exchange liquidity measures, including a special central-bank programme for foreign-currency deposits, generated substantial inflows that supported the rupee. Inflows from foreign-currency deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened market conditions. Rupee appreciation was also supported by foreign equity inflows and risk appetite, but remained vulnerable to higher crude-oil prices, US-Iran tensions, safe-haven demand for the US dollar and possible disruption to oil flows through the Strait of Hormuz.
September 3, 2026
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Trade agreement consultations safeguard farmer, worker, MSME and sectoral sensitivities while phased bilateral tariff negotiations continue.
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September 3, 2026
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Unauthorised toll collection apps allegedly generated fake receipts, concealed non-FASTag collections, and triggered a money-laundering investigation.
Unauthorised digital applications allegedly enabled toll collection from vehicles without FASTag stickers outside the official reporting system. Mobdata and Any were allegedly used to generate unauthorised or fake toll receipts, conceal collections from NHAI, and monitor such collections through dedicated portals. A PMLA investigation followed an FIR alleging fraudulent toll collection, with digital forensic material indicating use of the mechanism across around 100 toll plazas. Searches resulted in seizure of financial and digital records and freezing of bank accounts.
September 3, 2026
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Economic offence investigations: cross-border training strengthens officers' practical skills in investigation, prosecution, procedures, and handling complex financial crimes.
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September 3, 2026
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Unauthorised Aadhaar credential use triggers blacklisting and procurement debarment following alleged post-termination enrolment and update transactions.
Alleged unauthorised use of Aadhaar Registrar/EA Code credentials after termination of an operational engagement led the Delhi Construction and Other Workers Welfare Board to blacklist MDS Solution Pvt Ltd. UIDAI communication indicated that Aadhaar-related activity allegedly continued after cancellation through the Board's credentials. The Board lodged a police complaint, barred the firm from its tenders, procurement processes, empanelment and contract awards, and recommended consideration of action under applicable rules and policies.
September 3, 2026
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FCNR(B) deposits strengthen foreign-exchange liquidity and support rupee appreciation alongside foreign portfolio inflows into government securities.
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Electric vehicle adoption can reduce transport import dependence while domestic battery manufacturing increases projected long-term savings.
Electric-vehicle adoption across road-transport segments is projected to reduce dependence on imported petrol and diesel, notwithstanding continuing battery imports. Accelerated electrification could reduce vehicle-related import expenditure substantially by 2050 because reduced oil imports are expected to exceed battery-import costs. Domestic cell-manufacturing capacity may further increase savings by combining rapid vehicle electrification with battery localisation.
September 3, 2026
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Women's livelihood credit access will extend beyond self-help groups through standardised loan formalities and coordinated banking support.
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Industrial development facilitation prioritises infrastructure, services, policy utilisation, and dry-port trade connectivity for businesses and agro-based farmers.
Industrial development facilitation extends beyond allocation of industrial plots to infrastructure development, services, and a favourable business environment. Industry-support policies seek to encourage participation by entrepreneurs, promote growth across sectors, and improve investment conditions without distinction between small and large enterprises. Dry-port infrastructure strengthens national and international trade connectivity, supporting import and export expansion for industrial and agro-based businesses.
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Regulated fintech infrastructure recognition highlights integrated payment, identity and collections capabilities across embedded financial product delivery.
Decentro operates an integrated fintech infrastructure platform combining payment acceptance, identity verification, banking and AI-led collections through a unified integration layer. It holds Payment Aggregator authorisations for online and physical payments, a Payment Service Provider licence through its GIFT City entity, and certification for offline identity-verification workflows. These capabilities support embedded financial products, payment acceptance, lending collections and related financial workflows for enterprise users.
September 3, 2026
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NBFCs and HFCs can complement bank-led credit delivery through last-mile reach, sector-specific expertise, digital infrastructure, consent-based data sharing and cash-flow-based underwriting. Sustainable growth requires strong liquidity risk management, governance, compliance culture, diversified funding, stress testing, early-warning systems, dynamic provisioning and sound underwriting standards. Proportionate scale-based regulation, digital lending standards and a substance-over-form approach seek to support innovation while preserving financial stability. Customer protection, responsible lending, grievance redressal, fair recovery conduct, cyber resilience and protection of customer data remain essential.
September 3, 2026
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Debenture trusteeship fee fixing constitutes cartelisation by constraining independent pricing and restricting service availability in the market.
Collective minimum-fee fixing for debenture trusteeship services prevented trustees from making independent commercial pricing decisions and constituted cartelisation. Prescription of a benchmark fee limited and controlled the supply or market for such services by directing association members and non-members not to serve debenture issuers below that fee. The conduct contravened Section 3(3)(a) and Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002.

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Mamata govt tables Rs 3.89 lakh cr budget; hikes DA & focuses on rural development in pre-poll year

February 12, 2025

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Kolkata, Feb 12 (PTI) The TMC government of West Bengal on Wednesday tabled a Rs 3.89-lakh crore budget for 2025-26, increased dearness allowance (DA) by four per cent state government employees, and focused on rural development, prioritising infrastructure and welfare ahead of next year's assembly elections.

The government unveiled a series of infrastructure and agricultural development projects in its budget, allocating significant funds for rural connectivity, river erosion control, and agrarian support initiatives.

In the last full-fledged budget of the Mamata Banerjee government before the 2026 Assembly elections, Finance Minister Chandrima Bhattacharya tabled in the assembly a Rs 3.89 lakh crore budget.

In the previous budget, the state saw an allocation of Rs 3.67 lakh crore, marking an 8 per cent increase from the previous year 2023-24.

Bhattacharya announced that the state government would increase the Dearness Allowance (DA) by four per cent from April 1, 2025.

This would bring the total DA to 18 per cent for over 10 lakh state government employees and pensioners.

The move is aimed at addressing ongoing concerns raised by the employees who have been agitating for better compensation.

"With this four per cent increase in DA, we are reaffirming our commitment to the welfare of our employees," Bhattacharya said, underlining the state's focus on the well-being of its workforce.

In the budget speech, Bhattacharya said a total of Rs 44,139.65 crore has been allocated for rural development, surpassing allocations for all other sectors in this year's budget.

Additionally, Rs 13,381.68 crore has been earmarked for the Urban and Municipal Development Department.

In the 294-seat West Bengal Assembly, rural constituencies dominate, with around 170 to 180 seats in rural areas often proving decisive in elections.

Bhattacharya highlighted an increase in funding for multiple rural-centric initiatives, including the road construction scheme 'Pathashree' and housing programme 'Banglar Bari'.

Rs 1,500 crore has been allocated for the Pathashree project in the upcoming fiscal year, while the Bangla'r Bari scheme has seen an increase of Rs 9,600 crore.

This year, 12 lakh families have been provided funds for constructing permanent homes, and another 16 lakh families will benefit from the same assistance in the next fiscal year.

After the budget presentation, Bhattacharya emphasised the integration of rural and urban economies, saying, "Employment opportunities for rural people will be created, which will also nourish the urban economy. We aim to create this synergy." In a bid to address the persistent issue of river erosion, the government set aside Rs 200 crore, which would provide much-needed relief to vulnerable riverine communities.

Further strengthening its focus on infrastructure, the government sanctioned Rs 500 crore for the construction of a 4.75 km-long bridge over the Ganga river at Gangasagar, which is expected to facilitate smooth access for pilgrims and boost local economies.

For the ‘Ghatal Master Plan’, a mega project to dredge riverbeds and strengthen embankments of at least 10 major rivers in the state, the government has allocated Rs 500 crore this year. The total cost of the project is Rs 1,500 crore.

A new project called ‘Nadi Bandhan’ was announced for river-centric areas in the state. The project has been allocated Rs 200 crore, and it will focus on measures to prevent riverbank erosion.

Bhattacharya announced that 70,000 ASHA workers will be provided with smartphones as part of the budget's welfare measures.

There was no announcement regarding the 'Lakshmir Bhandar', a financial assistance scheme for women, in the budget.

Speaking at a press conference after the budget was presented, Chief Minister Mamata Banerjee said, "Lakshmir Bhandar is a popular scheme. Altogether 2.21 crore women benefit from it. The state government spends Rs 50,000 crore on this. Other states, especially the BJP-ruled states, are copying the Lakshmi Bhandar scheme." She said the state budget has a vision to create employment opportunities.

Expressing dissatisfaction with the budget, BJP lawmakers staged a walkout after the finance minister ended her speech.

They raised slogans against the government, highlighting the difference between the DA given by the central government and the state. PTI BSM/ DC PNT NN

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