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    SIDBI organizes a conclave of the Heads of Regional Rural Banks (RRBs) on expanding SIDBI-RRB MSME Co-Lending arrangement
    SC sets aside show cause notice to Tata Steel over input tax credit availed during FY19-23
    HC flags fraudulent use of Aadhaar by infiltrators to get Indian citizenship; calls for action
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August 26, 2026
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MSME co-lending supports digital paperless credit delivery through rural banks for underserved rural and semi-urban enterprises.
SIDBI-RRB MSME co-lending arrangement is proposed for expansion to increase credit access for micro, small and medium enterprises in rural and semi-urban areas. The arrangement combines SIDBI's understanding of MSME credit requirements with Regional Rural Banks' local reach. SIDBI's Co-Lending Origination Platform provides an end-to-end digital credit process intended to enable faster, paperless loan processing, in-principle sanction communication, documentation and direct account disbursement without branch visits.
August 26, 2026
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Input tax credit mismatch alone cannot support fraud-based GST demand without an assessing officer's recorded satisfaction of fraud or suppression.
Section 74 GST demand proceedings require the assessing officer's independent satisfaction of fraud, wilful misstatement or suppression of facts. An input tax credit mismatch or alleged short payment alone cannot establish these conditions. Unsupported assertions of suppression for invoking extended limitation are insufficient, and audit objections cannot replace the assessing officer's satisfaction. A show cause-cum-demand notice lacking factual allegations of a deliberate device to evade tax or avail excess input tax credit is vulnerable.
August 26, 2026
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Fraudulent Aadhaar procurement exposes identity-verification gaps and prompts disclosure, expedited investigation, deportation, and statutory review measures.
Fraudulent procurement of Aadhaar and other identity documents by foreign nationals who infiltrate borders may undermine identity verification, immigration control and national security. Coordinated action is required to trace and deport such persons, prevent re-entry, strengthen document verification, and complete investigations without delay. Amendments to the Aadhaar Act are to be considered to assist investigating agencies, while a dedicated procedure is required to address border infiltration and human trafficking. Aadhaar enrolment records are to be supplied to police, followed by timely deportation proceedings.
August 26, 2026
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Foreign investment liberalisation proposals receive industry support, subject to preserving AIF treatment, grandfathering, and prospective application.
Proposed foreign-investment liberalisation, including treatment of stakes below 10 per cent and a greater role for market forces in valuation, is welcomed. Preservation of the existing treatment of Alternative Investment Funds under the IOCC framework is emphasised, together with grandfathering of transactions and funds undertaken under the current regulatory position. Newly introduced requirements should operate prospectively to support a simpler, predictable and investment-friendly foreign-investment framework.
August 26, 2026
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India market expansion guides Nestle 's volume-led growth, export-hub development and long-term investment without compromising product quality.
Nestle 's India strategy focuses on volume-led growth, wider consumer reach, portfolio development, efficiency improvements and sustained long-term investment. Growth is intended to combine increased household penetration with pricing, premiumisation, affordability and value offerings. India is also intended to develop further as a production and export hub for global markets, supported by manufacturing capacity and expanding overseas supplies. Product quality and consumer interests remain constraints on the pace of expansion.
August 26, 2026
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Credit awareness through regular score and report review supports responsible borrowing, error detection, and informed credit management.
Free online access to the Credit Pulse Report is available through the Bajaj Finance website. Users verify their registered mobile number through OTP authentication, provide identifying particulars including PAN and date of birth, and then view the available credit score. The report may be reviewed and downloaded to examine repayment history, active credit accounts, recent enquiries and other recorded credit information. Periodic review can help identify unfamiliar accounts, inaccurate repayment records, overdue amounts, unupdated information and changes in credit utilisation.
August 26, 2026
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Credit lifecycle consistency requires facility-specific treatment so UPI-linked credit records, repayments and customer obligations remain aligned.
CARD91's Credit Lifecycle Consistency Framework calls for facility-specific treatment of Credit Line on UPI transactions and continuing credit events. Credit limits, outstanding balances, repayments, refunds, reversals and EMI conversions should be accurately connected to the relevant customer account and applied according to the underlying facility's terms. Bank policy, customer consent, transaction controls and portfolio actions should remain aligned. Customer-facing applications, statements and alerts should consistently reflect available credit, outstanding obligations and repayment schedules, while disputes and manual corrections follow documented, reviewable processes.
August 26, 2026
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Non-revolving credit lines require term-loan structures supporting multiple drawdowns without replenishing sanctioned limits for NBFC lending products.
Proposed restrictions on revolving credit facilities for most NBFCs would generally require credit products to operate as term loans, rather than facilities in which principal repayment automatically restores the available borrowing limit. Compliance may require technology capable of managing multiple drawdowns within an approved sanction, separate repayment schedules, amortisation and servicing workflows, while preventing repaid principal from replenishing the sanctioned limit.
August 26, 2026
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Reciprocal trade tariffs intensify as negotiations confront market access, cultural protections, industrial safeguards, and sovereignty concerns.
US-Canada tariff escalation involves reciprocal import duties following failed negotiations over market access and trade in dairy, alcoholic beverages, automobiles, steel, aluminium and softwood lumber. United States tariff action relies on a rarely used trade-law power permitting duties against countries considered to discriminate against American businesses, without a prior investigation or stated time limit. Negotiations also raised concerns about protection of major industries, cultural protections and Canada's freedom to conclude trade agreements with other countries.
August 26, 2026
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Diaspora engagement supports skilled mobility, investment links, remittances, and citizen welfare while encouraging compliance with local laws.
Indian diaspora engagement in Japan supports bilateral goodwill, business links, investment opportunities and people-to-people ties. Skilled Indian professionals are encouraged to understand local requirements, learn Japanese language and culture, and pursue opportunities in healthcare, trades, engineering, artificial intelligence, accountancy and maritime work. Diaspora members are also encouraged to maintain connections with India, contribute through digital education and knowledge-sharing, and comply with local laws and regulations. Remittances and government support for citizens' welfare, safety and crisis assistance abroad are recognised as important aspects of diaspora engagement.
August 26, 2026
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Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review.
India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
August 26, 2026
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Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities.
The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
August 26, 2026
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Competition clearance for full acquisition permits Cyient to acquire Tao Digital Solutions, a global digital transformation and technology services provider.
Competition Commission of India approved Cyient Limited's acquisition of 100% of Tao Digital Solutions Inc.'s share capital from its existing shareholders. The full share capital acquisition transfers complete ownership of Tao Digital Solutions to Cyient. Tao Digital Solutions provides global digital transformation and technology services, including product engineering, managed services, cybersecurity, payments, digitization and AI, cloud services, and data services, and operates in India through its wholly owned subsidiary, Tao Digital India Private Limited.
August 26, 2026
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Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales.
Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
August 25, 2026
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Customs classification of unassembled vehicle imports requires fresh hearing after reserved tax challenge was released without verdict.
The dispute concerns customs classification of imported unassembled vehicle parts. Customs authorities allege that parts imported in separate shipments should have been declared as completely knocked down (CKD) units, attracting the higher duty applicable to CKD imports, rather than as individual components subject to lower duty. The manufacturer contests the resulting customs demand. Proceedings have been released for fresh hearing before the regular indirect-tax writ bench, with status quo maintained for four weeks.
August 25, 2026
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Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
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Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
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Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
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BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
August 25, 2026
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Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives.
Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.

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Rajasthan Budget focuses on jobs, water supply; commits to make state USD 350-bn economy by 2030

February 19, 2025

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Jaipur, Feb 19 (PTI) Recruitment for up to 2.75 lakh positions in the government and private sector, water supply projects, and the construction of nine greenfield expressways were the highlights of the Rajasthan Budget 2025-26 presented by state Finance Minister Diya Kumari in the assembly on Wednesday.

While presenting the Rs 5.37-lakh crore Budget, Kumari, who is also the Deputy Chief Minister of the state, announced that 20 lakh new houses will be provided with drinking water connections and Rs 400 crore will be spent for this purpose.

"We are committed to creating a USD 350 billion economy by 2030... We have increased capital expenditure by more than 40 per cent in a short period and have constructed more than 9,600 km of new roads and upgraded more than 13,000 km of roads," Kumari said.

Calling this the state's first "green Budget", Kumari said special focus will be given on climate change adoption, forest and environment, sustainable agriculture, water harvesting, recycling and waste disposal, circular economy, and capacity building.

"Under the leadership of Chief Minister Bhajanlal Sharma, the GDP, indicating the development of the state, is estimated to increase to more than Rs 19,89,000 crore in 2025-26," she said.

Kumari announced recruitment for 1.25 lakh posts in government departments and state undertakings and 1.50 lakh private sector jobs in the coming year.

In the speech, the finance minister said under the guidance of Prime Minister Narendra Modi, the state government has proved the trust expressed by the public was right by setting new records of development in the state in the first year of its tenure itself.

She said the state government will construct nine greenfield expressways at a cost of Rs 60,000 crore.

For the energy sector, she announced 50,000 new agriculture connections and 5 lakh domestic connections, abolition of banking with other states at high rates, solar plants, and 150 units of free electricity per month to beneficiaries under the CM Free electricity scheme.

An allocation of Rs 10 crore was made for work of non-patchable roads in each assembly constituencies and Rs 15 crore in constituencies under desert region, Rs 50 crore for detailed project report of ring roads in 15 cities, Rs 250 crore for traffic improvement work in Jaipur, Jaipur metro work from Sitapura industrial area to Ambabari and Vidhyadhar Nagar, DPR for Jaipur metro extension to Jagatpura and Vaishali Nagar.

A fund of Rs 150 crore was announced under the CM Thar region development programme, installation of 50,000 street lights in all cities of the state.

She announced global capacity centre policy for investment in the service sector, Rajasthan trade promotion policy for trading sector, development of 10 sites as iconic tourist destinations.

Kumari said Rs 100 crore will be spent to promote night tourism, Rs 100 crore for Tribal Tourist Circuit covering Tripura Sundari temple, Mangarh Dham, Beneshwar Dham and other temples, and Govind Devji Kala Mahotsav to mark 300 years of foundation of Jaipur.

She said "Vaidik Gurukul" and "Vaidik Tourism Centres" will be established in Jaipur, Jodhpur, and Udaipur, and "Yuva Sathi Kendra" in Kota, Jodhpur, Jaipur and Sikar to address the issues of suicides and stress among students.

'MAA' fund of Rs 3,500 crore was announced for free diagnosis and medicines to people, establishment of ultra-advanced burns care units at divisional headquarters, "zero accident zones" on Delhi-Jaipur, Jaipur-Agra, and Jaipur-Kota highways.

She said the monthly social security pension for the elderly, widow/single woman, differently abled people, and small and marginal farmers will be increased to Rs 1,250 from Rs 1,200.

Other Budget announcements included the establishment of a Centre for Cyber Control and war room at Rs 350 crore, and a hike in PM Kisan Samman Nidhi as well as the bonus per quintal on MSP on wheat.

The finance minister said the state government has delivered 58 per cent of its promises made in the election manifesto and has fulfilled 73 per cent of the previous Budget announcements.

In the Budget 2025-26, estimated revenue receipts were pegged at Rs 2.94 lakh crore, estimated revenue expenditure Rs 3.25 lakh crore and estimated revenue deficit Rs 31,009 crore. The estimated fiscal deficit was Rs 84,643 crore, or 4.25 per cent of the gross state domestic product (GSDP).

Addressing a post-Budget press conference, Chief Minister Bhajanlal Sharma said the Budget will ensure development of the state.

"We have taken a step forward toward making Rajasthan a developed state by 2047 by focusing on green growth," the CM said.

The leader of opposition, Tikaram Jully, however, said the Budget was "only going to put the burden of debt on the people of Rajasthan".

He said the financial management of the state government has completely failed.

"In the last Budget, it was estimated that there would be revenue receipts of about Rs 2.65 lakh crore, but this target could not be met and only Rs 2.62 lakh crore have been made," he told reporters after the Budget presentation.

"The biggest challenge facing the common man today is inflation. We expected some announcement to reduce inflation but nothing happened," he said.

"Our (former Congress) government had given an inflation relief package of Rs 19,000 crore in the Budget 2023-24, but today the word inflation did not come in the entire speech." Before the beginning of the Budget speech, Rajasthan Speaker Vasudev Devnani said the government will respond to issues raised by the Opposition after the Zero Hour on February 20.

Opposition Congress is demanding the government's response to the allegations of phone-tapping levelled by Cabinet Minister Kirodi Lal Meena.

The Budget session of the Rajasthan Legislative Assembly began on January 31, with the address of Governor Haribhau Bagde. PTI AG SDA TRB

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