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August 18, 2026
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Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning.
Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
August 18, 2026
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Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation.
India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.
August 18, 2026
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Youth banking outreach promotes campus engagement, financial awareness, responsible credit discipline and long-term access to formal banking services.
Public sector banks are urged to conduct a month-long "Banking for Youth" outreach campaign from 2 October 2026 for persons above 16 years of age. Outreach through educational and skill-development campuses should combine account opening, financial awareness and direct engagement. Banks should develop tailored youth strategies to build long-term banking relationships. Proposed measures include online learning content, lifestyle-linked benefits, dedicated youth banking support, and awareness of credit scores, credit products and government credit schemes. A dedicated youth banking-awareness portal may serve as a single access point for appropriate banking services and financial opportunities.
August 18, 2026
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Competition approval for Prudential's acquisition of equity shareholding in an Indian life insurer supports the proposed insurance-sector combination.
Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.
August 18, 2026
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Foreign remittance certification due diligence faces nationwide verification targeting shell entities, their controllers, and certifying professionals.
Nationwide verification of suspicious outward foreign remittances targets entities with little or no reported business activity, their controllers, and professionals issuing tax determination certificates. Scrutiny concerns remittances disproportionate to reported turnover, inconsistent with stated purposes, or linked to entities not operating from declared addresses. Form 15CB, or Form 146 under the corresponding framework, requires certifying accountants to assess taxability from books of account and relevant records, supporting tax deduction at source and treaty compliance through due care, diligence and professional judgment.
August 18, 2026
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Fair Price Shop regulation introduces graded stock-shortage penalties, mandatory FIRs for major discrepancies, and restructured licensing requirements.
Fair Price Shop regulation introduces quantity-based penalties for stock discrepancies, ranging from performance-guarantee forfeiture and replenishment obligations to interim suspension, cancellation-related action and mandatory FIR registration for major shortages. Repeated or deliberate diversion or manipulation of public distribution supplies may lead to cancellation, blacklisting and FIR registration. Licensing now includes continuing regular licences and short-term temporary licences, with wider eligibility, points-based selection, card-linked performance guarantees and compulsory approved e-PoS, weighing-scale and iris-scanner use.
August 18, 2026
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Priority sector lending strengthened rural credit access through agricultural, micro-enterprise and weaker-section finance, reinforcing financial inclusion and sustainable development.
Regional Rural Banks expanded rural credit delivery while maintaining strong Priority Sector Lending performance during FY 2025-26. Almost all Regional Rural Banks met the prescribed overall priority-sector target. Agriculture and allied activities remained the largest priority-sector component, with farm credit accounting for nearly all agricultural lending. MSME finance predominantly supported micro enterprises, rural entrepreneurs, artisans and small businesses. Lending to weaker sections and finance for housing, education, renewable energy and social infrastructure promoted inclusive access to institutional credit and sustainable rural development.
August 18, 2026
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Adjustable pallet racking systems support customised, scalable warehouse storage through configurable layouts, safety assessment, installation and lifecycle support.
Adjustable pallet racking systems are configurable warehouse-storage solutions for varied inventory dimensions, weights and product types. They support bulk pallet storage, multi-level picking and high-density configurations through adjustable beams and shelves, load-bearing capacity, structural durability and space-efficient layouts. Storage configurations are customised after assessing inventory dimensions, payload requirements, available space and material-movement frequency, with support for design, installation, inspections and after-sales service.
August 18, 2026
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Domestic consumption expansion targets lower-tier markets through improved retail channels, distribution networks, employment support and household income opportunities.
China has introduced measures to strengthen domestic consumption in counties, smaller cities, townships and rural areas. The measures include upgrading township commercial centres, rural markets and local fairs; encouraging domestic and international brands to establish regional debut stores; and reusing existing land resources to improve services. They also seek better services for elderly persons and children, stronger urban-rural distribution networks, county-level employment and resident income channels. The strategy supports a shift towards household consumption amid weak domestic demand, property-sector pressures and subdued consumer sentiment.
August 18, 2026
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Currency management preserves monetary sovereignty through clean notes, secure logistics, decentralised distribution, durable banknotes, and sustainable cash-cycle operations.
Currency management supports trust in cash and monetary sovereignty through demand planning, secure production, distribution, replacement, and disposal. The Clean Note Policy requires good-quality banknotes to be available in required denominations and locations, with unfit notes continuously withdrawn and replaced. A decentralised Currency Chest network distributes fresh currency, processes returned notes, supports linked bank branches, and operates under licensing, real-time reporting, inspection, and audit requirements. Current priorities include managing uncertain cash demand, improving note durability, and reducing the carbon footprint of the cash cycle.
August 18, 2026
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Independent investigation of alleged dubious transactions requires examination of all six allegations despite prior police conclusions.
Investigation into alleged dubious transactions involving Indiabulls Housing Finance Limited and related entities must cover all six allegations identified by the Enforcement Directorate. The CBI must independently examine five allegations previously reviewed by the Delhi Police Economic Offence Wing, irrespective of its conclusion, and submit a comprehensive report. Further investigation into the sixth allegation depends on the special PMLA court deciding the CBI's pending application, after which the CBI must provide a progress or status report.
August 18, 2026
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Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
August 18, 2026
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Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
August 18, 2026
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Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
August 18, 2026
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Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
August 18, 2026
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Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
August 18, 2026
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EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
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Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
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Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
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Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.

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Karnataka CM Siddaramaiah slams BJP for calling his budget 'Halal'

March 7, 2025

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Bengaluru, Mar 7 (PTI) Karnataka Chief Minister Siddaramaiah on Friday slammed the opposition BJP for calling the state budget a 'Halal Budget' and 'Pakistan Budget'.

The BJP termed it "appeasement" and the CM said the saffron party's statement was a reflection of their "rotten mindset".

In a post on ‘X’ with a photograph of Siddaramaiah in skull cap, the BJP said: "Scam CM @siddaramaiah in Karnataka presents a Halal Budget—appeasement at its peak!" Addressing reporters after presenting his 16th budget, the chief minister said minorities do not mean Muslims only, but there are Buddhists, Jains, Sikhs and Christians in that category.

He also clarified that Rs 250 crore has been earmarked for Christians as well.

"The size of the budget is Rs 4.09 lakh crore and if we give Rs 4,500 crore to the minorities, the BJP calls it ‘Halal Budget’. Their statement shows their rotten mindset," Siddaramaiah said.

When a reporter asked him about the allocation for the Other Backward Castes, who constitute 56 per cent of the population, Siddaramaiah said Rs 4,300 crore has been earmarked for them. Along with that Rs 42,018 crore has been reserved for the Scheduled Caste Sub-Plan and Tribal Sub-Plan (SCSP-TSP), he said.

"We have made huge allocations for SCSP-TSP. Let the BJP, which ruled the Centre for 17 years, show that the Centre or the BJP ruled states have formulated SCSP-TSP provisions," the CM said.

He charged that the BJP leaders in Karnataka lack the courage to ask the Centre to replicate the way Karnataka has introduced SCSP-TSP. "But they do come to tell us that we are giving money to the Muslims. What moral rights they have to question us?" the chief minister sought to know.

He said the BJP had displayed its disrespect for secularism by calling the Karnataka budget a 'Halal Budget' and 'Pakistan Budget'. "This is a country of all the communities, which the BJP should know," Siddaramaiah said.

The chief minister said the budget he presented has far-sightedness and gives an equality, social and economic growth oriented budget. We follow the Fiscal Responsibility and Budget Management (FRBM) Act.

He said the size of the budget in 2024-25 was Rs 3.71 lakh crore budget, which has gone up to Rs 4,09,549 crore – an increase of Rs 38,166 crore. The growth rate of the budget is 10.3 per cent.

"This year (2024-25) the borrowings were Rs 1,05,246 crore, but next year's borrowing will be Rs 1,16,000 crore, which means we are borrowing Rs 10,000 crore," he pointed out.

The chief minister explained that, as per the FRBM Act, borrowing should be less than 25 per cent of the Gross State Domestic Product (GSDP) for a strong fiscal health.

"Karnataka’s borrowings are at 24.91 per cent. We are well within provisions of the FRBM Act. Financial deficit should not be more than three per cent as per FRBMA. We are at 2.95 per cent," Siddaramaiah said.

He said there are three parameters to gauge fiscal discipline – first, the state should be revenue surplus, fiscal deficit should not be more than three per cent, and the third is that borrowings of the state should not be more than 25 per cent of the GSDP.

"We are following the fiscal discipline and we are offering programmes for poor, women, weaker section, minorities, workers and farmers," Siddaramaiah said.

"We are financially strong, we are following the financial discipline and we are as per the provisions of the FRBM Act. Also, we have also kept the promises we made," Siddaramaiah said.

The chief minister also said that in 2024-25, the state had earmarked Rs 52,009 crore for the five guarantees, but in the next fiscal Rs 51,034 crore has been allocated.

"We reserved less money for the guarantees compared to previous year because we were paying cash to the beneficiaries of the Anna Bhagya guarantee at Rs 34 per kg every month in place of food grains, but this year we got rice from FCI at Rs 22 per kg," he explained.

The five guarantees were the key pre-poll promises of the Congress government. They are ‘Gruha Jyothi’ offering 200 units electricity free to every household, ‘Gruha Lakshmi’ scheme promising Rs 2,000 to every woman head of a family and ‘Anna Bhagya’ offering 10 kg rice to every member of the BPL family a month.

The 'Yuva Nidhi' promises Rs 3,000 dole to unemployed graduates and Rs 1,500 to unemployed diploma holders for two years (in the 18-25 age-group) and ‘Shakti’ scheme permits free travel for Karnataka women to travel within the state in government non-luxury buses.

Siddaramaiah said, "The BJP has said that the state would go bankrupt by implementing the five guarantees. Has it happened? Do they know the meaning of bankruptcy?” He said the BJP is now replicating the Karnataka model of guarantees in Delhi, Haryana, MP, Maharashtra and Rajasthan.

According to the chief minister, the annual expenditure on the guarantees per constituency is Rs 232 crore on an average.

"Isn’t a development if people are given money? Won’t it spur economic activities if the purchasing capacity of people increases?” he argued. PTI GMS GMS KH

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