Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    CBI FIR against Subhash Chandra for 'inflating' net worth to secure Rs 980 Cr in loans
    TCS subsidiary HyperVault to invest Rs 70,000 cr to develop Hyderabad AI data centre
    CBI FIR against Subhash Chandra for 'inflation' of net worth to secure nearly Rs 1,000-cr in loans
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls for Nationwide FTA Utilisation Drive to Expand India’s Global Trade Footprint
    Union Minister of Commerce & Industry Shri Piyush Goyal Calls Upon Automotive Industry to Deepen Localisation, Expand Exports and Prepare to Serve Glo...
    GeM and Textiles Committee Sign MoU to Boost Procurement of Recycled and Upcycled Textiles
    India–EU FTA Opens Huge Opportunities for Farmers, MSMEs, Innovators, Startups and Businesses in India and Europe: Commerce and Industry Minister Sh...
    First Batch of Corporate Mitra Course Commences with 2879 Learners registered
    NFRA Constitutes Advisory Committee on Audit Quality, Assurance and Technology
    ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
    Goyal blames market conditions for Jet Airways' downfall; ED says he 'bled airline to death'
    Rupee rises 8 paise to close at 94.43 against US dollar
    NSE gets regulatory nod for Rs 30,000 cr IPO, the biggest so far
    Sensex rebounds 362 pts, snaps 4-day losses on strong rally in metal, oil shares
    Forex kitty jumps USD 11.47 bn to fresh all-time high of USD 740.8 bn
    NSE gets Sebi nod for Rs 30,000-cr IPO, one of India's largest public issues
    'Policing the Republic': Book traces history of personal security, from Pharaohs to presidents
    Rupee rises 5 paise to 94.46 against US dollar in early trade
    No sensitivity of India compromised in trade pact with US: Goyal
    About 100 highway plazas used illegal apps to collect toll from vehicles not bearing FASTag stickers: ED
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 5, 2026
Show AI Summary
Inflated net-worth certificates allegedly enabled secured lending, triggering fraud, breach-of-trust and asset-stripping allegations after default.
Alleged inflation of net-worth certificates is said to have induced approval and disbursal of two corporate loan facilities aggregating Rs 980 crore, each secured by continuing personal guarantees. The facilities subsequently defaulted. The FIR alleges that materially higher net-worth representations made in 2018 were later contradicted during insolvency proceedings, and attributes the lending to collusion among the guarantor, borrower entities and their officers. Allegations include cheating, creation of false documents, misappropriation and misapplication of loan funds, breach of trust, and asset stripping intended to frustrate recovery.
September 5, 2026
Show AI Summary
AI data centre infrastructure investment enables phased deployment of high-density, liquid-cooled computing capacity using green and water-neutral design.
HyperVault plans to develop an artificial intelligence data-centre campus on 264 acres in Hyderabad, with capacity of up to 1 GW and investment by HyperVault and its partners of up to Rs 70,000 crore. The facility is intended to provide high-density, liquid-cooled computing infrastructure for frontier AI companies and hyperscalers. Development will proceed in phases according to customer demand and technology requirements, incorporating green-energy use and water-neutral design principles.
September 5, 2026
Show AI Summary
Alleged inflation of personal net worth underpins fraud and breach-of-trust accusations over secured corporate lending.
CBI registration of an FIR concerns allegations that inflated personal net-worth certificates were used to secure corporate loan facilities from Life Insurance Corporation Housing Finance Ltd. The lender alleges that the certificates influenced lending decisions, the facilities subsequently defaulted, and later insolvency proceedings disclosed inconsistency between the represented and asserted net-worth figures. Allegations include collusion with borrower entities, false documentation, cheating, misappropriation of loan funds, and breach of lender trust.
September 5, 2026
Show AI Summary
Free trade agreement utilisation requires district-level exporter support, rules-of-origin assistance, standards compliance, and coordinated market-access outreach nationwide.
Free Trade Agreement utilisation is to be advanced through coordinated action by central and state governments, sectoral ministries, Export Promotion Councils, industry associations and local export-support institutions. Preferential treatment is assessed against tariff rates faced by competing countries, while export competitiveness depends on scale, quality, customer trust and timely delivery. The Export Promotion Mission supports export credit, digitised compliance and FTA documentation, including rules-of-origin certification. District-level identification of products, clusters, new exporters and practical constraints, supported by workshops and rapid online facilitation, is intended to deepen market access.
September 5, 2026
Show AI Summary
Automotive localisation and export competitiveness are prioritised through global-standard manufacturing, technology partnerships, sustainable mobility, and government infrastructure support.
Automotive-sector localisation, export expansion and global-standard manufacturing are prioritised to strengthen India's role in global production and trade. Companies are urged to invest in technology, innovation, research and development, use domestic scale for overseas markets, and avoid supplying inferior products domestically. Trade agreements are positioned as channels for market access, technology absorption and exports. Greater indigenisation is encouraged through component localisation, technology collaborations and expanded exports, supported by critical minerals, batteries, indigenous energy sources, research funding, plug-and-play infrastructure and industrial ecosystems.
September 5, 2026
Show AI Summary
Circular textile procurement integrates certification, product categories and seller support to expand government markets for recycled materials.
Memorandum of Understanding for circular textile procurement links certification, standardisation and public-market access for recycled and upcycled products made from textile waste, scrap and second-hand clothes. The Textiles Committee will identify, verify, certify and recognise eligible producers and support specifications, catalogues and capacity building. Government e Marketplace will create dedicated product categories, onboard sellers, facilitate online market linkages, promote products to government buyers, and provide training and handholding to recyclers and upcyclers.
September 5, 2026
Show AI Summary
India-EU Free Trade Agreement promotes tariff reduction, market access, investment resilience, and India-Belgium industrial and skills cooperation.
India-EU Free Trade Agreement is presented as reducing or removing tariffs on more than 95 per cent of Indian and European goods exports while protecting sensitive sectors on both sides. It is intended to expand trade, investment and economic resilience, with the Port of Antwerp-Bruges serving as a major gateway for Indian exports into European markets. India-Belgium cooperation is identified in gems and jewellery, semiconductors, green hydrogen, advanced manufacturing, agriculture and food processing, supported by mutual recognition, workforce mobility, skills development and technology collaboration.
September 5, 2026
Show AI Summary
MSME compliance capacity-building programme launches structured learning and workplace training to develop certified paraprofessional support.
Corporate Mitra Course has commenced to develop trained and certified paraprofessionals capable of providing affordable business and regulatory compliance support to Micro, Small and Medium Enterprises. The 12-month programme includes six months of structured academic learning and six months of on-the-job training in professional firms. Its digital learning system offers recorded lectures, reference materials, assessments and learner-support facilities. The programme aims to strengthen MSME formalisation, ease of doing business, trust, transparency, accountability and orderly growth.
September 5, 2026
Show AI Summary
Audit quality advisory committee broadens expert input on assurance, technology, and stakeholder perspectives in oversight.
NFRA has constituted an Advisory Committee on Audit Quality, Assurance and Technology under Rules 15 and 16 of the National Financial Reporting Authority Rules, 2018. The Committee will provide expert inputs and suggestions on matters significantly affecting audit quality, while supporting functions relating to awareness of auditing and accounting standards. Its members represent professionals, chief financial officers, audit committees, independent directors, technology experts, regulators and industry.
September 4, 2026
Show AI Summary
Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
Show AI Summary
Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
Show AI Summary
Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
Show AI Summary
Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
Show AI Summary
Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
Show AI Summary
Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
Show AI Summary
IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.
September 4, 2026
Show AI Summary
Personal security frameworks evolved from elite guards into intelligence-led protection systems, while VIP culture can distort their necessity.
Personal security evolved from elite guards into structured systems combining physical protection, intelligence, technology and specialised protocols. Prime Ministerial security in India was reorganised after the 1984 assassination of Prime Minister Indira Gandhi by her bodyguards. A commission recommended a single protective agency, leading to the formation of the Special Protection Group in 1985. Statutory parameters introduced in 1988 sought to rationalise and scientifically streamline protection arrangements. Advanced technology, training, intelligence and protocols do not eliminate personal-protection vulnerabilities, and security is characterised as a necessity rather than a status symbol.
September 4, 2026
Show AI Summary
Rupee exchange-rate movement reflects foreign-currency deposit inflows, central-bank intervention, oil-price risks and changing market risk appetite.
Foreign-exchange liquidity measures, including a special central-bank programme for foreign-currency deposits, generated substantial inflows that supported the rupee. Inflows from foreign-currency deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened market conditions. Rupee appreciation was also supported by foreign equity inflows and risk appetite, but remained vulnerable to higher crude-oil prices, US-Iran tensions, safe-haven demand for the US dollar and possible disruption to oil flows through the Strait of Hormuz.
September 3, 2026
Show AI Summary
Trade agreement consultations safeguard farmer, worker, MSME and sectoral sensitivities while phased bilateral tariff negotiations continue.
India-US bilateral trade agreement negotiations are being pursued on the stated basis that Indian sensitivities will not be compromised. The agreement's text remains non-public, while the government position identifies farmers, fishers, micro, small and medium enterprises, workers, handloom and handicrafts sectors, and the automobile industry as protected considerations. The arrangement is described as a first tranche, with further engagement contemplated following changes in the United States tariff landscape.
September 3, 2026
Show AI Summary
Unauthorised toll collection apps allegedly generated fake receipts, concealed non-FASTag collections, and triggered a money-laundering investigation.
Unauthorised digital applications allegedly enabled toll collection from vehicles without FASTag stickers outside the official reporting system. Mobdata and Any were allegedly used to generate unauthorised or fake toll receipts, conceal collections from NHAI, and monitor such collections through dedicated portals. A PMLA investigation followed an FIR alleging fraudulent toll collection, with digital forensic material indicating use of the mechanism across around 100 toll plazas. Searches resulted in seizure of financial and digital records and freezing of bank accounts.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the Inauguration of Digital Payments Awareness Week 2025, March 10, 2025, RBI, Mumbai

March 11, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Digital Payments – Background and benefits

1. Payments are the lifeblood of commerce, enabling the flow of goods and services in an economy. They connect people, empower individuals and businesses, and drive economic growth. Quick, secure and reliable payments at affordable prices are the bedrock for a vibrant economy. Payments through digital modes support economic growth. They also deepen financial inclusion by overcoming barriers like high transaction costs and geographical limitations1. In effect, digital payments are not just convenient but are also a powerful tool for economic empowerment and growth.

Digital Payments – Convenience : Bouquet of products

2. Over the years, the Reserve Bank has supported various digital payment products. This has enhanced choice and convenience to the customers. We started with ECS (electronic clearing service). We then introduced NEFT, RTGS, IMPS, NACH (this is for e-mandates, it has replaced ECS), AePS, UPI, NETC, etc. We have introduced many new features on UPI and expanded its scope to cater to different needs of customers. These include UPI123Pay, UPI Lite, linking RuPay credit cards to UPI, processing payment mandates with single-block-and-multiple-debits, enabling Credit Lines for UPI, linking PPIs with UPI, etc. UPI with its multiple features, allows us to transfer money, pay bills, and make purchases with a simple click, tap or scan. We will continue to proactively support the development of the payment ecosystem.

Digital Payments – Safety and Security

3. While promoting digital payment systems and innovations around them, we have been mindful of the needs of safety and security in payments. We have thus put in place various measures for this purpose:

  • Multi-factor authentication; security controls for internet and mobile payments apps and card payments; card tokenisation (to prevent storage of card details in merchants systems), etc. are intended to make our payments ecosystem robust.

  • We have enabled customers to have control over creating and terminating e-mandates for recurring transactions.

4. Enhancing safety and security of payments ecosystem is a work in progress. The recently released drafts on “Framework on Alternative Authentication Mechanisms for Digital Payment Transactions”, and on “Additional Factor of Authentication (AFA) for cross-border Card Not Present (CNP) transactions” are steps in this direction.

Payment Systems – Way Forward

5. Apart from the RBI, the government and other important stakeholders such as the Banks and Payment System Operators have also taken a number of initiatives to encourage the adoption of digital payments. While these efforts have produced results, as visible in the huge growth of digital payments, there is still a lot more to be done. Going forward, we will work on three broad areas.

Payment Systems – Soft Touch Regulations to continue promoting innovation

6. First, we will continue to encourage innovation in payments, as also generally, while being mindful of risks and taking appropriate measures to mitigate them. We will promote innovation to facilitate payment systems that are fast, safe, secure, accessible and resilient. We have adopted a soft-touch approach to regulating the payments ecosystem and FinTechs. Through these regulations, the Reserve Bank attempts to balance these divergent set of expectations. Our approach has been to put in place regulatory guardrails within which all stakeholders are free to operate. We will continue to encourage innovation while promoting safety and security through soft-touch regulations.

Promote awareness generation

7. Second, though much progress has been made in the development, spread and adoption of digital payments, there is a lot of scope to further deepen and expand digital payments in the country. In January 2025, more than 20 billion payments worth almost 250 trillion rupees were made in India through digital modes. Digital payments have become the preferred mode of payment for many of us. However, surveys have shown that nearly 40% of our adult population still do not use digital payments. One of the main reasons for this is the lack of awareness or familiarity with using digital payments.

8. To create awareness of Digital Payments, the Digital Payments Awareness Week is being observed in March every year. As part of this endeavour, the “Har Payment Digital” mission was launched in 2023. The mission seeks to promote digital payments by enhancing awareness of digital payments among all citizens and making available the necessary infrastructure and solutions for people to make payments digitally. The objectives of Mission Har Payment Digital can be achieved only with the active participation of all stakeholders. Geographies and population segments, lagging behind in usage and awareness of digital payments need to be identified and suitable steps taken to expand awareness and improve usage.

9. We are now in the 3rd year of this mission. The theme for this year is “India Pays Digitally”. This year too, we will continue our awareness activities. By showcasing how digital payments have become a ubiquitous part of our lives, we will encourage those who haven’t adopted digital payments yet, to do so.

10. The Reserve Bank, as in the previous years, will be running multimedia campaigns around this year’s theme. To encourage active involvement of citizens, we will be conducting various competitions over social media with attractive prizes.

11. The Regional Offices of RBI too conduct Awareness Programs, called eBAAT, across the country covering various strata of society. We have been conducting these programs since 2012. In the last 8 years, more than 1800 such programs have been conducted. During this year, the content and method of delivery of eBAAT will be reviewed, and a pilot will be conducted (in a large State) with the objective to reach a very large number of people in the most efficient way.

12. I urge the Banks, Payment System Operators and other stake holders to contribute in their own innovative ways to take forward the mission of Har Payment Digital.

More efficient Cross border payments

13. Third, while in domestic payments, the success of UPI has propelled India to a leadership position with a share of 48.5 per cent in global real-time payments by volume2, we will endeavour to make cross-border payments more efficient. This assumes priority as India is the largest receiver of personal remittances globally. As per a World Bank3 report, it has been estimated that in 2024, India received remittances totalling approximately 130 billion USD. We need to address the challenges of high cost, slow speed, and insufficient access and transparency in cross border payments.. We will continue to expand the reach of UPI bilaterally by linking UPI with Fast Payment Systems of other countries. We will also explore the possibility of linking payment systems other than UPI for facilitating efficient cross-border payments. We will continue our engagement in a multilateral project called Project Nexus, to enable instant cross-border retail payments4.

14. As we observe the 5th Digital Payments Awareness Week, I am happy to note that this year marks the 20th year of the establishment of the Department of Payment and Settlement Systems (DPSS). I congratulate the department on this key milestone. The work carried out by this department in association with all stakeholders has established India as a pioneer in digital payments. The revolution in India's payment systems is, however, far from over. We are just beginning to unlock the true potential of digital payments. I am confident that we will continue to work with renewed vigour to ensure that India remains at the forefront of digital payments globally.

Thank you.

---

1 World Bank, Digital Financial Services, April 2020.

2 ACI Worldwide, 2024

3 https://blogs.worldbank.org/en/peoplemove/in-2024--remittance-flows-to-low--and-middle-income-countries-ar

4 Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect the Fast Payment Systems of four ASEAN countries (Malaysia, Philippines, Singapore, and Thailand); and India, who would be the founding members and first mover countries of this platform.

Topics

Acts Income Tax