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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
    Show AI Summary
    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
    Show AI Summary
    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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      Russia, US agree to work toward improving ties and ending Ukraine war in landmark talks

      February 19, 2025

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      Riyadh, Feb 18 (AP) Russia and the US agreed Tuesday to start working toward ending the war in Ukraine and improving their diplomatic and economic ties, the two countries' top diplomats said after talks that reflected an extraordinary about-face in US foreign policy under President Donald Trump.

      In an interview with The Associated Press after the meeting, US Secretary of State Marco Rubio said the two sides agreed broadly to pursue three goals: to restore staffing at their respective embassies in Washington and Moscow, to create a high-level team to support Ukraine peace talks and to explore closer relations and economic cooperation.

      He stressed, however, that the talks — which were attended by his Russian counterpart, Sergey Lavrov, and other senior Russian and US officials — marked the beginning of a conversation, and more work needs to be done.

      Lavrov echoed Rubio's remarks and told reporters that “the conversation was very useful.” “We not only listened, but also heard each other,” he said.

      Trump's national security adviser, Michael Waltz, and special Mideast envoy Steven Witkoff joined Rubio at the table, along with Lavrov and Russian President Vladimir Putin's foreign affairs adviser, Yuri Ushakov.

      No Ukrainian officials were present at the meeting, which came as the beleaguered country is slowly but steadily losing ground against more numerous Russian troops in a grinding war that began nearly three years ago.

      Ukrainian President Volodymyr Zelenskyy said his country would not accept any outcome from the talks since Kyiv didn't take part, and he postponed his own trip to the kingdom scheduled for Wednesday.

      European allies have also expressed concerns that they are being sidelined.

      Improving Russian-US relations Ties between Russia and the US have fallen to their lowest level in decades in recent years — a rift that has been widening ever since Russia illegally annexed Crimea from Ukraine in 2014 and only worsened after Moscow's full-scale invasion.

      The US, along with European nations, imposed a raft of sanctions on Russia in an effort to damage its economy. And embassies in Washington and Moscow have been hit hard by expulsions of large numbers of diplomats, as well as other restrictions.

      Rubio said Tuesday that ending the war in Ukraine could “unlock the door” for “incredible opportunities that exist to partner with the Russians geopolitically on issues of common interest and, frankly, economically on issues that hopefully will be good for the world and also improve our relations in the long term.” His comments were further evidence of the remarkable U.S. reversal on Russia after years in which Trump's predecessor, Joe Biden, led international efforts to isolate Moscow.

      Tuesday's meeting was meant to pave the way for a summit between Trump and Putin. After the talks ended, Ushakov and Waltz said no date has been set yet for that summit. Ushakov told Russian television that a meeting was “unlikely” to take place next week, while Waltz said he thought it could be arranged in the coming weeks.

      Speaking to reporters after the meeting, Lavrov mentioned the same three goals as Rubio and said that Washington and Moscow agreed to appoint representatives to carry out “regular consultations” on Ukraine.

      “I have reason to believe that the American side has started to better understand our position” the Russian foreign minister said.

      Witkoff said the meeting was “positive, upbeat, constructive. Everybody was there to get to the right outcome.” The meeting marked the most extensive contact between the two countries since Moscow's Feb. 24, 2022, invasion. Lavrov and then-US Secretary of State Antony Blinken talked briefly on the sidelines of a G-20 meeting in India nearly two years ago, but tensions remained high.

      Concerns from allies they are being sidelined The recent US diplomatic blitz on the war has sent Ukraine and key allies scrambling to ensure a seat at the table amid concerns that Washington and Moscow could press ahead with a deal that won't be favorable to them.

      Kyiv's absence at Tuesday's talks rankled many Ukrainians, and France called an emergency meeting of European Union countries and the UK on Monday to discuss the war. Kyiv's participation in such talks was a bedrock of U.S. policy under Biden.

      US State Department spokeswoman Tammy Bruce said the talks were aimed at determining how serious the Russians are about achieving peace and whether detailed negotiations can start.

      Rubio said Tuesday that there would be “engagement and consultation with Ukraine, with our partners in Europe and others. But ultimately, the Russian side will be indispensable to this effort.” Rubio also said ending the conflict would require concessions from all sides and that Washington “is not going to predetermine" would those concessions would be.

      US Defence Secretary Pete Hegseth said last week that NATO membership for Ukraine was unrealistic and suggested Kyiv should abandon hopes of winning all its territory back from Russia — two key items on Putin's wish list.

      Waltz said “the practical reality is that there is going to be some discussion of territory, and there's going to be a discussion of security guarantees." French President Emmanuel Macron on Tuesday said he spoke by phone to Trump and Zelenskyy following Monday's European meeting.

      “We seek a strong and lasting peace in Ukraine,” Macron wrote on social media platform X. “To achieve this, Russia must end its aggression, and this must be accompanied by strong and credible security guarantees for the Ukrainians,” he said and vowed to “work on this together with all Europeans, Americans, and Ukrainians.” Saudi Arabia's role The meeting at the Diriyah Palace in the Saudi capital of Riyadh also highlighted de facto leader Crown Prince Mohammed bin Salman's efforts to be a major diplomatic player, burnishing a reputation severely tarnished by the 2018 killing of Washington Post journalist Jamal Khashoggi.

      Saudi state media described the talks as happening at the prince's direction. Like the neighboring United Arab Emirates, the prince has maintained close relations to Russia throughout its war on Ukraine, both through the OPEC+ oil cartel and diplomatically as well.

      Saudi Arabia has also helped in prisoner negotiations and hosted Zelenskyy for an Arab League summit in 2023.

      But Zelenskyy postponed his own trip to Saudi Arabia scheduled for this week, suggesting that he wanted to avoid his visit being linked to the talks since Ukrainian officials weren't invited. He visit was rescheduled for March 10.

      War continues Meanwhile, Russia continued to pummel Ukraine with drones, according to Kyiv's military. The Ukrainian air force said Russian troops launched a barrage of 176 drones at Ukraine overnight, most of which were destroyed or disabled by jamming.

      One Russian drone struck a residential building in Dolynska in the Kirovohrad region, wounding a mother and her two children and prompting an evacuation of 38 apartments, the regional administration reported. Four more residential buildings were damaged by drone debris in the Cherkasy region of Ukraine, according to local officials. (AP) GSP

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