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    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
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August 11, 2026
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Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
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Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
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GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
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Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
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Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
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Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
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High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.
August 10, 2026
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MSME and export promotion framework expands finance, technology, infrastructure, sustainability and global-market support for enterprise growth.
Haryana Progressive MSME and Export Promotion Policy 2026 creates a five-year framework for MSME growth through financial incentives, institutional support, industrial infrastructure, technology adoption and export facilitation. Identified thrust-sector enterprises may receive capital and interest subsidies, stamp duty reimbursement, employment assistance, insurance support, and incentives for automation, artificial intelligence, testing and research. Proposed venture capital and credit guarantee funds seek to improve institutional and collateral-free finance. Export support covers international certifications, credit, insurance, freight, e-commerce, trade fairs, documentation, compliance and buyer connections, alongside sustainability and inclusive entrepreneurship measures.
August 10, 2026
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Employee data exposure alerts trigger review of alleged password spraying and MFA fatigue, with customer and operational systems unaffected.
Employee data exposure alerts prompted TCS to review allegations concerning limited basic employee information that appears to be more than four years old. No indication exists that customer data, customer systems, or operational systems have been affected. The alleged vectors involve password spraying and multi-factor authentication fatigue. TCS states that safeguards against these techniques have been in place for more than two years, its controls remain effective, and monitoring and further assessment will continue.
August 10, 2026
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Mustard honey export demonstrates FPO-led aggregation, quality-focused production and industry collaboration for international agricultural market access.
Mustard honey export from Tripura to Dubai marks the first international shipment by Dergang Farmer Producer Organisation, supported through export-oriented aggregation and market linkage initiatives. The export creates overseas market access for local beekeepers and farmers, diversifies the honey value chain, and encourages quality-focused production. Industry collaboration supported bee production and an export-oriented supply chain, while capacity building, quality assurance, value addition and market linkages can strengthen agricultural exports and farmer participation in international markets.
August 10, 2026
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Digital banking evidence gains recognition through a modernised framework for physical and electronic records, with privacy and security safeguards.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary framework for bankers' books by permitting banking records to be produced in physical or electronic form in legal proceedings. It recognises electronic, digital and virtual records and enables the Central Government to extend the regime to other regulated financial entities, supporting a uniform financial-sector evidentiary framework. The framework seeks secure and transparent use of banking records while safeguarding customer privacy, confidentiality and data security.
August 10, 2026
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Illicit opioid medicine exports exposed through concealed cargo, clandestine manufacturing, repacking, and attempted transnational trafficking to Nigeria.
Illicit manufacture and attempted export of controlled opioid medicines were detected in a network producing, concealing, storing and exporting Tramadol Hydrochloride tablets to Nigeria. A consignment declared as Pregabalin capsules contained concealed Tramadol Hydrochloride and Tapentadol tablets. Investigation identified clandestine manufacture, repacking and preparation for export, with searches yielding tablet-compression machinery and raw materials. Tramadol is a psychotropic substance under the Narcotic Drugs and Psychotropic Substances Act, while Tapentadol is regulated under the Drugs and Cosmetics Act and its rules.
August 10, 2026
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Summons compliance under anti-money-laundering law faces appellate scrutiny after acquittal over unproven email service allegations.
Delhi High Court required Arvind Kejriwal to reply to Enforcement Directorate petitions challenging his acquittal in proceedings concerning alleged non-compliance with summonses. The trial court found that the agency had not proved intentional disobedience, service of summons through email, or lawful issuance of electronic summons under the Prevention of Money Laundering Act. The appellate challenge concerns proof of service, validity of electronic summons, and intentional non-compliance.
August 10, 2026
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Pesticide residue concerns drive organic farming, school agriculture initiatives, infrastructure financing and climate-resilience support for farmers.
Food-safety concerns arising from pesticide residues and toxic substances are to be addressed through organic vegetable farming, household cultivation and the Kathir school-farming initiative. Kathir provides for institutional farming, teacher and committee support, markets, student training and clubs, with possible academic weightage for agricultural participation. Agricultural infrastructure financing supports post-harvest management, value addition, processing, packing, marketing and exports. Additional measures include banking support, agricultural technology adoption, women-farmer support and schemes addressing climate-related floods and drought.
August 10, 2026
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Digital EODC processing removes physical duty challans through authenticated payment verification for export authorisation closure.
Export Obligation Discharge Certificate processing under the Advance Authorisation and Export Promotion Capital Goods schemes no longer requires physical duty-payment challans for voluntary customs-duty payments made on or after 1 August 2026. Authenticated licence-wise payment information is electronically transmitted from Customs/ICEGATE to DGFT systems and mapped to the relevant authorisation. Exporters can verify payment details on the customer portal, while Regional Authorities use corresponding back-office records, replacing manual submission and verification for authorisation closure.
August 10, 2026
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Trusted service-call numbering requires verified utilities and logistics entities to use dedicated numbers exclusively for transactional and service communications.
The 1601-series is introduced for verified utilities, courier and logistics entities making service and transactional voice calls. Numbers must be allocated directly to eligible entities, not intermediaries or aggregators, following verification by telecom service providers and an undertaking of exclusive use. Promotional voice calls are prohibited on this series and remain associated with the 140-series. The framework separates these calls from the 1600-series reserved for regulated financial-sector and government-to-citizen communications, supporting consumer recognition of legitimate calls and reducing impersonation risks.
August 10, 2026
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GST revenue collection drives tax growth while data scrutiny, taxpayer verification, and compliance capacity remain key administrative priorities.
GST constituted the principal component of tax revenue for the 2025-26 fiscal year. Tax administration faces staff shortages, information-technology upgrade needs, and increased workloads from taxpayer registrations and return filings. Compliance oversight requires GST data scrutiny, risk assessment, identification of unregistered taxpayers, tax-evasion detection, and field verification of high-risk taxpayers. Long-term revenue planning sets progressively higher collection targets through 2063.
August 10, 2026
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Russian crude imports reshape India's refining trade as processed petroleum products reach sanctioning jurisdictions despite import restrictions.
Indian imports of Russian crude oil reached a second consecutive monthly record in July 2026, with Russian crude forming the dominant share of India's Russian fossil-fuel purchases and more than half of total crude imports. Higher receipts through smaller terminals offset reduced volumes at Paradip. Indian refineries processing Russian crude also exported refined petroleum products to sanctioning jurisdictions, including the European Union, Australia and the United States, despite the European Union prohibition on imports of oil products made from Russian crude.
August 10, 2026
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Cyber-fraud through stolen phones allegedly used mule accounts, banking credentials and coordinated technical operations to divert victims' funds.
Investigation into unauthorised withdrawals after theft of a mobile phone uncovered an alleged interstate cyber-fraud network using stolen devices, linked banking credentials and mule bank accounts. The scheme allegedly involved phone theft, supply of accounts and banking instruments, and a technical operation that accessed victims' accounts and routed funds for withdrawal or transfer. Digital surveillance, transaction mapping, seized devices, victim data and transaction records are being examined to identify linked complaints and the extent of funds allegedly diverted.
August 10, 2026
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Rupee depreciation reflected stronger dollar, elevated crude prices and geopolitical uncertainty, while portfolio inflows and equity gains provided support.
The rupee depreciated against the US dollar amid a stronger dollar, higher global crude oil prices and uncertainty surrounding West Asia-related negotiations. Concerns over crude oil's potential impact on the trade deficit weighed on the currency, while positive domestic equity markets and foreign portfolio investment inflows provided support. Market caution remained focused on forthcoming US inflation data, dollar-index movements and Brent crude prices. Foreign-exchange reserves increased during the reported period.

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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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