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    Bajaj Finance Acquires 5% Stake in TrueFan AI as part of Finserv Intelligence
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September 8, 2026
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Strategic equity investment in AI video technology supports expanded enterprise automation, personalised communication, and startup innovation collaboration.
Bajaj Finance acquired a 5% equity stake in TrueFan AI through Finserv Intelligence, an applied research and innovation initiative supporting scalable technology enterprises. The investment follows existing use of TrueFan AI's platform for personalised customer engagement and dealer enablement. The parties intend to expand collaboration in personalised marketing, high-volume video generation, live-avatar assistance, multilingual communication, learning and development, and digital onboarding. The partnership combines equity participation with development of technological capabilities and long-term strategic value.
September 8, 2026
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Corporate share transaction validity was sustained after allegations of altered control and financial impropriety were rejected in prolonged proceedings.
The National Company Law Appellate Tribunal set aside the Tribunal's decision after considering historical corporate records and contemporaneous material, rejecting allegations of financial impropriety concerning the private placement and share transfers. It upheld the relevant corporate decisions and transactions. The Supreme Court declined to interfere with the appellate determination, concluding the prolonged challenge brought by Bhagwati Developers Private Limited.
September 8, 2026
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PMLA information-sharing enables a police FIR request over alleged bribery, sham consultancy payments, and suspected fund routing.
Enforcement Directorate used PMLA information-sharing powers to seek a police FIR over alleged bribery, sham consultancy payments, and laundering of funds linked to CMRL and Exalogic Solutions. The allegations concern purported payments for IT consultancy services, use of Exalogic Solutions as a corporate vehicle for routing payments, and alleged transfers of funds to Dubai. The investigation also draws on allegations of fictitious corporate expenditure that generated cash for unlawful payments.
September 8, 2026
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PMLA information-sharing in alleged consultancy payments enables police FIR registration and potential money-laundering proceedings thereafter.
Section 66(2) of the Prevention of Money Laundering Act permits the Enforcement Directorate to share criminal-investigation findings with law-enforcement agencies for registration of a fresh FIR or complaint. A police case registered on that information can form the basis for a PMLA case. In the reported investigation, FIR registration was sought on evidence gathered during the PMLA probe and searches concerning alleged consultancy payments.
September 8, 2026
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Governance and risk oversight gain focus as strategic advisers support institutional-grade alternative credit operations for MSMEs.
Strategic Advisory Board appointments add Mr. Rajaram and Mr. Bala Swaminathan to UpTik's advisory leadership for its invoice discounting and alternative credit operations. Their respective experience in structured finance, regulatory compliance, banking operations, treasury and institutional finance is intended to strengthen governance, risk oversight, compliance, credit-management frameworks and institutional partnerships. The appointments support expansion of transparent and responsible alternative credit access for MSMEs.
September 8, 2026
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Homebuyer claims and delayed possession require a comprehensive proposal, while frozen accounts remain unavailable for insolvency operations.
Proceedings concerning delayed real-estate projects require a fresh comprehensive proposal addressing possession, refunds, delayed-possession compensation, and enforcement-related claims of all homebuyers across the developer's group entities. An inadequate proposal may lead to appointment of a High-Powered Committee to assume relevant responsibilities. Frozen bank accounts remain under restraint, and a request by the Insolvency Resolution Professional to operate an account for company affairs was not entertained. The proceedings also raise concerns over enforcement of real-estate regulatory directions and protection of homebuyers facing prolonged delays.
September 8, 2026
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Crude oil price volatility heightens India's import, inflation and fuel-retailer margin pressures amid West Asia supply disruptions.
Elevated crude prices arising from West Asia supply and maritime-transit risks increase India's oil import costs and may pressure the trade balance and currency. Higher international crude prices can feed into domestic inflation through fuel, transport and energy costs, depending on domestic price pass-through and the duration of the increase. Retail fuel-price restraint may compress fuel-retailer margins and increase LPG under-recoveries. Refiners, distributors, airlines, petrochemical businesses and other energy-intensive sectors also face higher costs, particularly where crude, LPG and naphtha supplies depend on regional transit flows.
September 8, 2026
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Alternative investment fund private placements require eligible investors and governing offering documents, with market-risk and no-advice disclosures.
Alternative Investment Fund units are not offered through public solicitation. Subscriptions, purchases or dealings in units may occur only by private placement to eligible investors and on the terms of the relevant private placement memorandum and constitutive documents. The material is not investment advice or a recommendation concerning securities or companies. Securities-market investments carry market risk, and past performance does not assure future results. Category III fund management is also associated with investment-process assessment, risk governance and institutional infrastructure.
September 8, 2026
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PMLA information-sharing mechanism triggers requested corruption FIR based on alleged consultancy payments and suspected proceeds of crime.
The requested police case concerns allegations that CMRL made fraudulent payments to Exalogic Solutions, a now-defunct company, by representing them as consideration for IT consultancy services. The investigation also alleged generation of proceeds of crime by CMRL management and persons connected with the recipient company. Searches reportedly resulted in seizure of handwritten notes containing details of certain fund transfers to Dubai.
September 8, 2026
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PMLA information-sharing mechanism supports police FIR referral based on alleged CMRL-linked payments and investigation material.
PMLA information-sharing power under section 66(2) permits the Enforcement Directorate to transmit money-laundering investigation findings and material recovered through searches to a law-enforcement agency for consideration of a fresh FIR or complaint. An FIR registered on that basis may also support a PMLA case. Registration was reportedly sought in relation to alleged CMRL-linked bribery involving purported fraudulent consultancy payments and material said to record fund transfers to Dubai.
September 8, 2026
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Export-led growth in technology goods and autos widens trade imbalances amid tariffs, strategic supply constraints, and diversification.
China's export growth accelerated in August, driven by demand for automobiles and high-technology goods, while imports also rose and the trade surplus widened. Export growth continued to outpace imports, supported by expanded shipments to Southeast Asia, Latin America and Africa and by rising exports of electric vehicles, industrial machinery and semiconductors. Reliance on exports amid weak domestic consumption and investment contributed to concerns over global economic imbalances and continuing strategic trade tensions.
September 8, 2026
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Foreign-exchange intervention supports rupee stability amid elevated oil prices, geopolitical tensions, and shifting global market indicators.
Rupee depreciation in the interbank foreign-exchange market reflected elevated Brent crude prices, Middle East geopolitical tensions and weaker investor confidence. RBI dollar sales and foreign-currency inflows under special schemes supported range-bound currency trading despite external pressures. A softer dollar index, foreign institutional equity purchases, inflation data and the Federal Open Market Committee meeting were identified as relevant indicators for currency-market direction.
September 8, 2026
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Performance-linked incentives for public sector bank executives are kept in abeyance pending bipartite settlement and joint note discussions.
Implementation of the Performance Linked Incentive Scheme for Public Sector Bank executives is kept in abeyance for FY 2025-26 following employee concerns about its structure. The scheme will be considered during ongoing Bipartite Settlement and Joint Note discussions. Employee representatives also raised issues concerning ex-gratia benefits and medical facilities for retired employees. The concerns are to be addressed through dialogue, consultation and mutual understanding.
September 8, 2026
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Customs trade data show stronger export and import growth, driven by automotive and high-technology demand.
China's customs trade indicators for August record export growth of 25% year-on-year, accelerating from July's 23.9% rate, supported by demand for automobiles and high-technology goods. Imports rose 28.2% year-on-year, up from July's 27.5% growth. Higher import and export values produced a trade surplus of $119.1 billion, widening from $112.5 billion in July.
September 8, 2026
Show AI Summary
Money-laundering searches of media-linked premises prompted allegations of political vendetta, while investigators cited suspected funding and circulation irregularities.
Enforcement Directorate searches at premises linked to a Rajya Sabha member and an Urdu daily were undertaken in connection with a money-laundering investigation. The investigation arose from a police FIR and concerned allegations of material promoting communal disharmony, unaccounted cash transactions, suspicious funding, overstated circulation figures to secure government advertising, and advertising-linked funding connected with a Dubai-based entity. The political party disputed the action, alleging political motivation and targeting of a media voice.
September 8, 2026
Show AI Summary
Money-laundering investigation into alleged Valmiki Corporation fund diversion includes renewed questioning and scrutiny of related irregularities.
Money-laundering investigation concerning alleged misappropriation of Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation Limited funds involved further recording of a former minister's statement under the Prevention of Money Laundering Act. The inquiry follows earlier questioning, arrest, grant of bail and filing of a chargesheet over alleged fund-transfer irregularities. The former minister denied involvement, characterised the matter as bank fraud, and stated that no documents were sought during the inquiry.
September 7, 2026
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Aadhaar-based learning licence authentication faces challenge over age verification, identity safeguards, and compliance with prescribed licensing formalities.
Aadhaar-based online processing of learning and driving licence applications is challenged on the ground that Aadhaar is not valid proof of age and that reliance on Aadhaar details may enable issue of licences to underage applicants. Allegations that licences were issued using a deceased person's Aadhaar number and despite an obscene uploaded photograph raise identity-verification and security concerns. The Union and State maintain that Aadhaar alone does not result in licence issuance because prescribed formalities must also be completed.
September 7, 2026
Show AI Summary
Digital payment transparency for religious institutions supports direct trust-account donations, reconciliation, and technology-led banking services.
Digital donation collection facilities for temples and religious establishments include kiosks, Bharat Bill Payment System payments and UPI QR-code payments. Donations may be credited directly to the relevant trust account, supported by transaction reconciliation and digital records to improve transparency and ease of transactions. Technology services also cover municipal dues payments and property-tax assessment, alongside banking support for defence-sector ecosystems, MSMEs, agriculture and priority-sector lending.
September 7, 2026
Show AI Summary
Rupee exchange-rate movement reflected crude oil pressures, domestic equity weakness, foreign inflows, and a softer dollar.
Foreign-exchange market conditions resulted in the rupee closing weaker against the US dollar after initial support from foreign currency deposit inflows. Rising crude oil prices and weakness in domestic equity markets weighed on sentiment and offset support from a softer dollar and foreign investor equity purchases. Future movement may remain influenced by foreign inflows, crude oil prices, domestic market conditions, geopolitical tensions and inflation data.
September 7, 2026
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Surrogate advertising allegations challenge notices targeting brand ambassadors and raise jurisdiction and hearing concerns for product promoters.
Challenge to surrogate advertising allegations concerns notices requiring brand ambassadors promoting Vimal Elaichi to prove that it differs from prohibited pan masala, halt promotions, and remove digital materials. The product promoter contests the notices because they were addressed only to the actors, it was not heard, and the regulator allegedly lacked jurisdiction to stop the advertisements. Territorial jurisdiction to entertain the challenge is also contested.

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News and Press Release

Leveraging Non-conventional Data Sources for Official Statistics

March 21, 2025

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The brainstorming session on Leveraging Non-Conventional Data Sources for Official Statistics, of Ministry of Statistics and Programme Implementation (MoSPI), was concluded on 20th March, 2025 at Vigyan Bhawan, New Delhi.

The inaugural session of the event was addressed by Sri Kris Gopalakrishnan, Chairman Axilor Ventures and Co-founder of Infosys, Sri Rana Hasan, Regional Lead Economist, South Asia, Asian Development Bank (ADB), Sri Shombi Sharp, UN Resident Coordinator (UNRC), and Dr. Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation.

Sri Kris Gopalakrishnan, one of the co-founders of Infosys, Chairman, The Council, IISc Bangalore, and the Chairman, Board of Governors of IIIT, Bangalore, in his keynote address, underpinned the importance of the non-conventional data by citing success of Aadhar, primarily developed as a tool of citizen services, however, now used for developing various applications. He said that in view of India’s tremendous potential in technology, it can lead from front in respect of using non-conventional datasets for decision making.

He impressed upon the need of standardization of various datasets, strengthening data processing capabilities, and developing data governance framework. He emphasized further that there is a need for evolving a framework enabling access to private data, legally backed and for rightful usages. In addition, he underlined that there is a need of fostering data literacy amongst all stakeholders so that the non-conventional sources are effectively used. Further, he opined that a single source of data would empower not only to the data producers but also to the entrepreneurs. He concluded by stating that the deliberations like this would strengthen formalizing the non-conventional data sources.

Dr. Saurabh Garg, Secretary, MoSPI, impressed upon the importance of such sessions for encouraging a concerted effort of all stakeholders for the optimal usages of available in the ecosystem. He urged upon the representatives of the Central Ministries/Departments, including the Statistical Advisors to explore the possibility of reusing datasets generated by the other agencies. Further, he also mentioned that the culture of data sharing, however, maintaining the sanctity of Personally Identifiable Information (PII) must be fostered in the working of all the stakeholders.

Sri Shombi Sharp, UNRC in his address shared some best practices regarding the citizen generated data and their usages in the official statistics especially in achieving the SDGs. Besides, he also emphasized upon a greater collaboration amongst the stakeholders to capitalize the full potentials of all possible alternate datasets.   

Sri Rana Hasan in his presentation demonstrated the power of combining various datasets for an improved decision making.  He noted that the cities are hubs of growth and innovation, and thus India’s ongoing urbanization should be appropriately leveraged. He observed further that since the industrial parks are affecting neighboring settlements, they should be catalysed for structural transformation.

The first technical session invited presentations from Shri. M. C. Gaur, Addl. Surveyor General (NZ), Survey of India; Shri. Ayago Wambile, Senior Economist, World Bank; Prof. Bappaditya Mukhopadhyay, Expert in Analytics, Great Lakes Institute of Management, New Delhi; and Shri. Ankur Bansal, Founder, GDi Partners. This session was moderated by Sh. P. R. Meshram, Director General (Data Governance), MoSPI.

Sh. Gaur from Survey of India, in his presentation, highlighted the relevance of linking statistical data to geospatial locations and making the same easily accessible to various data users. While Shri. Wambile from World Bank, spoke about different non-traditional data sources such as, scanner data, mobile phone data, etc that can be leveraged to supplement the official statistical data in the country. Prof Mukhopadhyay from Great Lakes Institute of Management, presented a specific use case of using satellite data to assess SDG at district and sub-district levels over time. Shri Bansal from GDi Partners thereafter, brought attention to objectives, challenges, and potential way forward of using non-traditional data sources along with illustrations of use of such data sets by NSOs across the world.

The second technical session invited presentations from Ms. Tanusree Deb Barma, Deputy Director General, UIDAI, M/o Electronics and Technology; Prof. Shalabh, Professor of Statistics & Data Science, IIT Kanpur; Shri Srinivasa Rao Sitiraju, DD, BGWSA, NRSC, Department of Space, ISRO; and Dr. Karan Nagpal, India Regional Director, IDinsight, New Delhi, India. The session was moderated by Ms. Geeta Singh Rathore, Director  General (NSS), MoSPI.

Ms. Tansuree from M/o Electronics and Technology, provided an overview of the Aadhar Ecosystem and presented areas where non-traditional data is being used for authentication of data, identification of bugs, etc. Further, Shri Sitiraju from ISRO, presented various types and aspects of Geospatial data being collected by ISRO and products built using them within the official data ecosystem. Dr. Shalabh from IIT Kanpur, thereafter, presented a specific use case of grievance redressal mechanism leveraging emerging technologies for deriving insights from grievance data collected by Government of India, while Dr. Nagpal from IDinsight presented various use cases of alternative datasets and their usages in generating macro indicators. He, specifically, discussed various usages in price data in official statistics.

The event has been attended by around 150 delegates, ranging representations from the central Ministries/Departments, UN agencies, Think Tanks, Independent organisations, and Universities and research institutions.

The deliberations of the brainstorming session would be a sine qua non for the data innovation involving tapping into alternative data gathered from new or non-conventional data sources and combining and enhancing existing data sources with that new data to gain additional insights.

One of the significant takeaways of the brainstorming session is that the digital revolution provides abundant opportunities to improve the way services are delivered, including harnessing valuable data and insights into products, services, and customer behaviors. Such data innovations are rapidly changing institutions and the data sources available to them. A well-designed intertwining of various data sources may provide better comprehension resulting into improved health care system,  Strong supply chains and logistics, Convenient travel, Smart farming, and a transparent FinTech ecosystem.

Further, it was discussed that the Ministries/Departments may use the alternative datasets for the real time monitoring and tracking the decision variables. In addition, it also emerged that the Ministries/Departments may make available Alternative/Administrative datasets to various stakeholders so that their integration with Census/Survey data may become possible.  Besides, it emerged that there should be concerted efforts of all the stakeholders for creation of enabling environment so that all possible data sources, Conventional and Non-Conventional are used for decision making.  

 

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