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    Nagaland tax revenue rises to Rs 1,597 crore in FY'26
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    Rupee falls 11 paise to close at 95.28 against US dollar on firm crude oil prices
    Loan Utsav 2026: Bajaj Finance Personal Loan Now Comes with an Exclusive Reward Bundle for Eligible Customers
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    AAP govt indulged in large-scale financial irregularities, caused losses to exchequer: Delhi minister
    ED files chargesheets in 2 PMLA cases against Anil Ambani Group companies, ex-executives
    RJD criticises UDF govt's move not to disburse pensions through cooperative banks
    Raymond Limited reports a healthy Q1 FY27 performance
    Why Most People Choose the Wrong Savings Account And How Not to Be One of Them
    RBI has proactively helped UCBs; cooperatives should look at regulator differently: Shah
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    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.
    August 10, 2026
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    Collateral-free personal loans offer extended repayment flexibility, conditional reward benefits, and online application subject to eligibility and disbursal requirements.
    Loan Utsav 2026 provides eligible Bajaj Finance Personal Loan applicants an exclusive reward bundle where the loan is successfully disbursed during the campaign period. The collateral-free facility supports personal expenses, offers repayment tenures from 12 to 108 months, and may enable lower monthly EMI obligations through a longer selected tenure. Interest rates depend on eligibility, credit assessment, financial profile and lending criteria. Online applications require personal and financial details and required documents, with disbursal for eligible applicants possible after verification and approval.
    August 10, 2026
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    Credit card payment flexibility supports seasonal shopping and travel through eligible EMIs, rewards, tracking tools and conditional merchant benefits.
    Credit-card spending features include conversion of eligible purchases into EMIs, selected no-cost EMI options, reward points, cashback, merchant discounts and payment flexibility. Travel-related benefits may include domestic airport lounge access, travel-booking discounts, fuel-surcharge waiver and anniversary-linked rewards. The AU 0101 application enables transaction tracking, balance and interest-rate monitoring, EMI conversion and bill-payment management. Features and offers are subject to change, customer eligibility, internal policies and partner-merchant terms.
    August 10, 2026
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    Foreign-exchange market conditions weakened the rupee as stronger dollar and crude prices offset support from reserve growth and inflows.
    Foreign-exchange market conditions saw the rupee weaken against the US dollar in early trading, influenced by a stronger dollar and higher global crude oil prices. Foreign institutional equity inflows and increased foreign-exchange reserves moderated pressure on the rupee. Market attention remained focused on developments in West Asia and the Reserve Bank of India, alongside movements in the dollar index, crude oil prices and domestic equity markets.
    August 10, 2026
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    GI-tagged Mithila Makhana export facilitation expands sea-route market access while supporting quality compliance and farmer-linked value chains.
    Export facilitation for GI-tagged Mithila Makhana enabled the first commercial sea-route shipment from Bihar to Australia. APEDA, in association with the Bihar agriculture department, supported market access, coordination, capacity building and stakeholder engagement. The export model is intended to improve farmer price realisation, require adherence to global quality standards, and strengthen growers, processors and exporters. A separate HS Code for Makhana has taken effect under the Finance Bill, 2025, supporting product-specific trade classification.
    August 10, 2026
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    Startup ecosystem support expands through digital payments, cloud access, AI innovation, investment readiness, governance support and global market programmes.
    DPIIT has entered into strategic MoUs to support DPIIT-recognised startups through payment infrastructure, entrepreneurship development, cloud technology, mobility innovation, investment readiness and global-market access. Eligible startups may receive payment and cloud support, technical training, mentorship, startup formalisation assistance, market and investor connections, AI and mobility enablement, and programmes addressing governance, financial readiness, compliance and international expansion. The collaborations promote innovation across digital payments, clean energy, artificial intelligence, climate technology, advanced manufacturing, mobility and automotive technology.
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    UPI transaction charges remain unavailable for consumers and person-to-person payments, while limited threshold-based merchant MDR may be considered.
    Proposed amendment of section 10A of the Payment and Settlement Systems Act, 2007 is intended to support UPI sustainability, technological advancement and resilience. Consumer payments and person-to-person transactions are to remain free. Any future merchant discount rate would apply only to limited merchant transactions above a threshold, at a nominal rate, while most merchant transactions remain free. The framework supports investment in cybersecurity, fraud prevention and infrastructure, alongside a self-sustaining and inclusive digital-payment ecosystem.
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    Fair competition cooperation in renewable energy markets advances knowledge-sharing and evidence-based enforcement across interconnected digital and energy markets.
    BRICS competition authorities adopted a Joint Statement strengthening cooperation to promote fair competition, including in renewable energy markets. Cooperation focuses on dialogue, knowledge-sharing and consideration of cross-border competition challenges in digital markets, emerging technologies and the energy transition. Competition enforcement is to remain principled and evidence-based, supporting efficiency, consumer welfare, innovation and merit-based competition. A collaborative renewable-energy competition study identified evolving market dynamics and areas for future cooperation.
    August 10, 2026
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    Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
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    August 9, 2026
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    Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
    National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
    August 9, 2026
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    GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
    Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
    August 9, 2026
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    Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
    Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
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    Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
    Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
    August 8, 2026
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    Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
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    Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
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    August 8, 2026
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    Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
    Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.

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      Puri seeks state govts' support to become world's 2nd largest metro network after US

      March 10, 2025

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      New Delhi, Mar 10 (PTI) Union minister Hardeep Singh Puri on Monday said India is the third largest operating metro system in the world, with 1,011 km in length, and sought the support of state governments to overtake the US to become the world's second-largest network.

      Replying to supplementaries in the Rajya Sabha during Question Hour, the minister said land and urban transport are state subjects, but the central government supports states in establishing metro networks in terms of financial support and funding from external agencies.

      The minister said he cannot give an assurance to a member of Parliament on a capital-intensive project, as the projects require detailed examination in terms of finances and feasibility. He also urged states to send detailed project reports, along with relevant documentation, to enable the Centre to examine them expeditiously.

      He was responding to a question on the metro rail project in Chennai, cleared by the Union Cabinet last October.

      Puri was also asked about clearing pending projects for the Madurai and Coimbatore metro projects, to which the minister said he cannot give an assurance without a proper examination of the projects.

      "We started metro projects in 2002 at the time of Atal Bihari Vajpayee government. Today, we have 1,011 km of metro projects operating in 23 cities. In addition to that, we have another 979 km under construction. Metro is either in operation or under construction in 29 cities in the country," he told the members in the Upper House.

      He said that between 2002 and today, India has the third largest operating metro system in the world after China and the US, and we are at 1,011 km, and America at about 1,400 km.

      "In becoming the second largest network of urban transport...we need the cooperation of state governments. We have all state governments cooperating with us, some more effectively than others. I find that when proposals are sent to us in a comprehensive way, then the chances of the proposal getting approved is higher," Puri said, adding that he was responding on behalf of his colleague Manohar Lal, who was not present in the House.

      To a question on the minister giving an assurance on Madurai and Coimbatore projects, the minister said, "It is not my job as a cabinet minister to give assurances on the floor of Parliament without the proposal having examined and the implications having examined".

      He stressed that all capital-intensive projects will go through detailed scrutiny, and only then, they will be approved. Each project is evaluated in terms of its viability.

      He said that for any metro project to progress, it is important that the central government receives a detailed project.

      The DPR from Madurai and Coimbatore had a composite mobility plan missing at that time, he stressed, adding that all state government should forward their plans with proper documentation.

      "In Delhi, we have about 400 km in NCR region and at any given day, we have more than 70 lakh people using the metro system," he said while giving an example of a successful transport system.

      Puri said that he has been on record saying that whatever we wanted to do for Delhi in terms of improving transport facilities, "It was derailed for want of support of Delhi government".

      "It is more about RRTS, we were able to get it done, as the Delhi government was not forthcoming with the finances," he claimed.

      He said the central government approved 28.5 Km for the metro system in Gurugram and the NCRTC corridor, connecting Gurugram, was kept on hold by the AAP government for three years.

      "Now with the change in the government in Delhi, I am sure we will be able to get this done as well. We could not have moved from zero in 2002 to 1,011 km unless the state governments cooperated," he noted.

      Speaking about the Chennai metro project, the minister, who held the charge of Housing and Urban Development earlier, on behalf of his colleague Manohar Lal Khattar said the Chennai metro has a long history, and the proposal was originally sent to us in 2017 for 107 km of metro at a cost of Rs 85,000 crore.

      "This proposal was returned to the Tamil Nadu government as it was not accompanied by all the documents required to assess a project of this magnitude. In 2018, the government of Tamil Nadu proceeded with the project of its own as a state project.

      "Then in January 2019, it was resubmitted to the Centre for 118.9 km with a reduced cost of Rs 69,180 crore against Rs 85,000 crore earlier. The Government of Tamil Nadu finally submitted a proposal for 118.9 km length at a sanctioned cost of Rs 63,246 crore, as per a joint project.

      "This project was approved in October 2024 for Rs 63,246 crore, of which the Government of India's contribution is Rs 7,424 crores in equity and subordinate debt. No funds demand has been received from the chief minister. We have already released Rs 5,000 crore and over Rs 33,000 crore has been financed through external funding agencies," he noted. PTI SKC SKC BAL BAL

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