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    China, US hold 'candid, in-depth' talks on tariffs, AI issues ahead of Xi-Trump meeting
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September 21, 2026
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Tariff sanctions and AI trade consultations examine reciprocal tariff reduction amid energy-purchase measures and objections to unilateral sanctions.
Expanded sanctions and tariff measures form the immediate trade-policy backdrop. The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 authorises expanded sanctions and tariffs targeting Russia and countries that buy its energy exports. China contests the application of tariffs to its purchases and opposes long-arm jurisdiction and unilateral sanctions asserted without a basis in international law or a UN Security Council mandate. Parallel negotiations contemplate a reciprocal tariff-reduction arrangement.
September 21, 2026
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Rupee appreciation in early trade reflects lower crude prices and stronger domestic equities despite dollar demand.
Rupee appreciation in early interbank trading saw the currency strengthen by 24 paise to 95.72 per US dollar. Lower Brent crude prices, gains in domestic equities and improved foreign fund sentiment supported the currency, while importer demand for dollars and broader US-dollar strength limited gains. Market commentary identified a broad near-term trading range, and foreign-exchange reserves declined because foreign-currency and gold reserves fell.
September 21, 2026
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Digital signature compatibility requires updated signing software for newly issued tokens, while functioning existing certificates remain usable until expiry.
Digital-signature users with tokens issued on or after 21 September 2026 must install emSigner v3.3, while users whose existing certificates and tokens function normally may retain their current version. Version 3.3 supports existing tokens and is required where signing fails or certificates cannot be selected despite correctly installed drivers. Certificates downloaded to FIPS 140-2 dongles on or before that date remain valid until expiry; later renewal or fresh issuance generally requires FIPS 140-3 dongles, subject to specified exceptions.
September 21, 2026
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Private capital mobilisation for development financing requires predictable investment conditions, credible projects, fiscal transparency, and strengthened State capital expenditure.
Development financing for Viksit Bharat is framed as a joint Union-State and private-sector task requiring higher savings and investment, fiscally resilient public finances, and mechanisms to mobilise private capital. Fiscal sustainability requires State-wise debt assessments and fuller disclosure of off-budget borrowings, guarantees, arrears and borrowings through State-owned entities. Public resources are expected to play a catalytic role in attracting private investment, supported by predictable rules, enforceable contracts, faster dispute resolution and stronger investment protections.
September 21, 2026
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PMLA-IBC interface examines challenges in harmonising insolvency resolution with money-laundering asset attachment, investigation, tracing and enforcement.
The PMLA-IBC interface addresses reconciliation of insolvency resolution with anti-money-laundering enforcement where corporate debtor assets are attached during resolution. Section 32A is central to this interaction, although harmonised implementation remains challenging. The framework also considers money-laundering stages, hawala transactions, financial investigation, asset tracing, and evolving judicial approaches to aligning insolvency objectives with enforcement measures.
September 21, 2026
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Evolving insolvency law relies on legislative amendments and regulatory mechanisms to respond effectively to changing market conditions.
Subordinate legislation and regulatory mechanisms are important tools for maintaining responsiveness within the insolvency framework. Regulations may be framed for provisions of the Code and for fulfilment of its purposes and objectives, enabling practical responses to emerging issues. The interaction between primary legislation, regulations and market developments supports continuing refinement of insolvency law in line with changing conditions.
September 20, 2026
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Tariff policy and trade truce reshape bilateral engagement as rare-earth leverage limits coercive economic measures.
United States-China trade relations are being conducted through continued tariff policy, prior export restrictions, and a trade truce after escalating tariffs did not achieve their intended effect of changing Chinese economic conduct. China's concentrated supply of rare-earth inputs used in electronics provided negotiating leverage and contributed to the trade armistice. Indications that Chinese goods are routed through third countries to lessen tariff exposure qualify the decline in the bilateral goods imbalance. Continued tariffs have not constrained China's manufacturing expansion or its access to export markets.
September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
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Biometric Aadhaar authentication becomes essential for domestic LPG consumers seeking regulated subsidised refill bookings, while market-price supply remains available.
Biometric Aadhaar authentication is required from October 1 for domestic LPG consumers to book subsidised refills at the regulated retail selling price. Authentication can be completed through delivery personnel, distributor showrooms or designated mobile applications. Consumers unwilling or unable to authenticate may obtain LPG at the applicable market price without subsidy after registering their choice through specified digital channels. The framework distinguishes subsidised LPG linked to Aadhaar-authenticated consumers from market-priced LPG and seeks targeted subsidy delivery, reduced leakage, and prevention of diversion, duplicate connections and ineligible access.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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Tariff treatment of Indian exports shifted from reciprocal duties to targeted trade measures, sectoral duties, and specified exemptions.
Upon expiry of the temporary global measure, an India-targeted 10 per cent Section 301 tariff, linked to forced-labour concerns, replaced it; the effective charge for most covered exports remained MFN duty plus 10 per cent. The current regime applies the Section 301 tariff to Indian exports except specified goods, with separate sectoral duties on steel, aluminium and auto components. Smartphones, medicines and energy products are exempt.
September 19, 2026
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PMLA-based FIR request over alleged consultancy payments remains under legal examination amid criticism of non-registration.
Enforcement Directorate sought registration of an FIR concerning alleged fraudulent payments by Cochin Minerals and Rutile Ltd to Exalogic Solutions, represented as IT consultancy fees. The request relied on evidence gathered through investigation and searches under the Prevention of Money Laundering Act. Registration remained under consideration after receipt of the Advocate General's legal opinion, with the Home Department examining the matter.
September 19, 2026
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Free trade agreements expand market access, entrepreneurial partnerships and youth career opportunities alongside public-sector recruitment and development participation.
Free Trade Agreements are presented as mechanisms for expanding cross-border partnerships, market access for entrepreneurs, and career opportunities for young persons. Youth employment is also linked to the expansion of the startup ecosystem beyond major cities and to public-sector recruitment through Rozgar Melas. Newly selected candidates are to join central government ministries, departments and organisations. Public service is framed around citizen-centred administration and decisions supporting a developed and self-reliant India.
September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.
September 19, 2026
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Recurring token reward distributions connect eligible holdings, platform activity, and partner participation through hourly settlement cycles.
BC Engine permits eligible $BC holdings to participate in hourly settlement rounds distributing BCD rewards. Participants can monitor active balances, cumulative rewards, unclaimed BCD, and settlement history through the Engine interface. Settlement amounts vary with ecosystem activity, while the mechanism links platform activity, token utility, user participation, and commercial partners through repeated value distribution rather than one-time promotional incentives.
September 19, 2026
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Asset monetisation of surplus public land and buildings is accelerated through transparent, value-oriented processes and stakeholder coordination.
NLMC's Board recommended monetisation proposals involving surplus land and building assets valued at over Rs. 5,000 crore. Monetisation is facilitated through asset identification, due diligence, valuation and appropriate process structuring, with emphasis on transparency, efficiency and value realisation. Sustained coordination with asset-owning entities is intended to expedite implementation and support timely, commercially appropriate monetisation of underutilised public assets.
September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.

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US defence chief Hegseth calls NATO membership for Ukraine unrealistic

February 12, 2025

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Brussels, Feb 12 (AP) US Defence Secretary Pete Hegseth said Wednesday that NATO membership for Ukraine was unrealistic and in sweeping remarks suggested Kyiv should abandon hopes of winning all its territory back from Russia and instead prepare for a negotiated peace settlement to be backed up by international troops.

Hegseth's strident comments came during the first trip to NATO by a member of the new Trump administration. Allies have been waiting to hear how much continued military and financial support Washington intends to provide to the Ukrainian government.

What they heard was that President Donald Trump is intent on getting Europe to assume most of the financial and military responsibilities for the defence of Ukraine, including a possible peacekeeping force that would not include US troops.

Hegseth said the force should not have Article Five protections, which could require the US or the 31 other nations of the NATO alliance to come to the aid of those forces if they end up in contact with Russian forces.

Hegseth's stark message, and his insistence that Russia should keep some territory that Ukraine wants back, is likely to complicate talks later this week between Ukrainian President Volodymyr Zelenskyy and US Vice President JD Vance and other senior American officials at a major security security conference in Munich.

“The United States does not believe that NATO membership for Ukraine is a realistic outcome of a negotiated settlement,” Hegseth said, as Kyiv's backers gathered at NATO headquarters for a meeting to drum up more arms and ammunition for the war, which will soon enter its fourth year.

All 32 allies must agree for a country to join NATO, meaning that every member has a veto.

“Instead, any security guarantee must be backed by capable European and non-European troops,” Hegseth said. “To be clear, as part of any security guarantee, there will not be US troops deployed to Ukraine.” Hegseth insisted that NATO should play no role in any future military mission to police the peace in Ukraine and that any peacekeeping troops should not be covered by the part of NATO's founding treaty that obliges all allies to come to the aid of any member under attack.

Article Five has been activated only once, when European allies and Canada used the collective security guarantee to help the United States in the wake of the September 11, 2001, al-Qaida attacks on New York and Washington.

Hegseth also said Europe "must provide the overwhelming share of future lethal and nonlethal aid to Ukraine.” Ukraine currently relies equally on Europe and the US for about 30 per cent each of its defence needs. The rest is produced by Ukraine itself.

Addressing the allies of Ukraine known as the Ukraine Defence Contact Group, he also insisted that Ukraine's Western backers must abandon the “illusionary goal” of returning the country to its pre-2014 borders, before Russia annexed the Crimean Peninsula and seized parts of eastern Ukraine.

“Members of this contact group must meet the moment,” Hegseth said to the approximately 50 member countries that have provided support to Ukraine since Russia's full-scale invasion in 2022.

“We hear you,” UK Defence Secretary John Healey said in response to Hegseth's opening remarks. Both Hegseth and Healey spoke in front of journalists at the top of a closed-door session in Brussels to discuss future aid to Ukraine.

Over nearly three years, those 50 countries have collectively provided Ukraine with more than USD 126 billion in weapons and military assistance, including more than USD 66.5 billion from the US, which has served as the chair of the group since its creation.

But the meeting this week was convened by the United Kingdom, and no decision has been made on who might chair the next meeting, if one is called.

Hegseth wasn't expected to make any announcement on new weapons for Ukraine.

His trip comes less than two weeks before the third anniversary of Russia's invasion on February 24, 2022. Most US allies fear that Russian President Vladimir Putin won't stop at Ukraine's borders if he wins, and that Europe's biggest land war in decades poses an existential threat to their security.

Trump has promised to end the war quickly. He's complained that it's costing American taxpayers too much money and suggested that Ukraine should pay for US support with access to its rare earth minerals, energy and other resources.

Hegseth in his remarks said that NATO member nations also need to significantly increase defence spending to 5 per cent of their budgets — a high mark that the US does not presently meet either.

“The United States will no longer tolerate an imbalanced relationship which encourages dependence. Rather, our relationship will prioritise empowering Europe to own responsibility for its own security," Hegseth said.

European allies have hiked their military budgets since Putin ordered his troops into Ukraine, and 23 of them are estimated to have reached or exceeded last year's target of spending 2 per cent of gross domestic product, but a third still fall short.

Some US allies worry that a hasty deal might be clinched on terms that aren't favourable to Ukraine.

Before Hegseth spoke, NATO Secretary General Mark Rutte told The Associated Press that Putin will only negotiate a peace deal with Ukraine if its backers continue to provide enough weapons and ammunition.

“We have to make sure that he has no other option, and that means to force him to the table,” Rutte said. “He needs to understand that we will not give up on Ukraine. We have to make sure that we have maximum economic impact on Russia.” Hegseth's remarks come a day after American history teacher Marc Fogel returned safely to the US after three years in a Russian prison. The White House suggested that his release could help to advance negotiations on ending the war.

Trump said another American, someone “very special,” would be released Wednesday, though he declined to name the person or say from what country. The president did not say what the United States exchanged for Fogel's release. (AP) GSP

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