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    Sebi board approves slew of reforms; widens investment avenues, FPI access
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September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
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Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
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Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
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Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
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BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.

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India’s Soft Power Balances Ancient Wisdom and Modern Multi-Alignment: Dr. Shashi Tharoor at 10th Dr. L. M. Singhvi Memorial Lecture

March 21, 2025

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New Delhi, 21st March, 2025: Dr. Shashi Tharoor, Member of Parliament, Lok Sabha, delivered the 10th Dr. L. M. Singhvi Memorial Lecture on the theme “India’s Soft Power”. Describing India’s soft power. Dr. Tharoor observed that, “Soft power projects multi-alignment which is a web of interconnected networks where influence is dispersed and collaboration is key. Multi-alignment allows India to navigate this network world with agility and purpose, engaging in multiple coalitions and platforms that serve different objectives which, in turn, is a reflection of the crucial role India is able to play across the world and that advances universal principles.” The Dr. L.M. Singhvi Memorial Lecture is an annual lecture series organized by Jindal Global Law School, O.P. Jindal Global University in memory of Dr. L.M. Singhvi, a multifaceted personality and a jurist par excellence, who made invaluable contributions to society as a statesman, diplomat, writer, and lawyer. The memorial lecture was held under the aegis of Singhvi Endowment, an endowment instituted by Dr. Abhishek Manu Singhvi, son of late Dr. L.M. Singhvi, and Senior Advocate, Supreme Court of India & Member of Parliament, at Jindal Global Law School, O.P. Jindal Global University in memory of his father.

In the memorial lecture, Dr. Tharoor explained the concept of soft power, “Soft power accounts for the influence that a country wields beyond its military or hard power. It rests primarily on three resources: its culture in places where it’s attractive to others, its political values when it lives up to them at home and abroad, and its foreign policies when they are seen as legitimate and have moral authority. Soft power is what people think about a country as soon as they hear its name. A hard power is what they feel when they confront a country. Hard power is exercised. Some power is evoked. In today’s world, soft power has become a key tool to geopolitical strategy embraced across the globe”.

Focusing on India’s soft power, Dr. Tharoor observed, “As influence shifts increasingly from military and economic might to cultural and intellectual leadership, India’s soft power stands as a vital asset. We embody the true ideas and a vision of India that transcends borders. India's multicultural, multi-ethnic, multi-party, pluralistic civilization and democracy have emerged as an attraction to many, especially our parliamentary institutions and procedures, conducting free and fair elections and our ability to involve the non-governmental sector and civil society in the quest for inclusive growth.” “When millions around the world roll out yoga mats on the International Yoga Day, it bears a tradition that embodies the balance between ancient wisdom and modern wellness. In doing so, we embrace a cultural gift from India. When India’s leadership promoted yoga globally, getting the UN to nearly unanimously recognize the International Yoga Day, it became a quiet, powerful testament to India's role in fostering balance and harmony worldwide.” Speaking on Bollywood’s role as an important instrument to Indian soft power. Dr. Tharoor, stated, “It is not only a celebration of the dynamism of Indian cinema but also reinforces Bollywood's role as an important instrument to Indian soft power, embedding India's spirit into the global imagination. Today, Indian cinema's international success and influence have elevated Bollywood as a formidable force of our soft power, reshaping global perceptions and expanding India's cultural footprint on the world stage”.

On the other facets of India’s sort power, Dr. Tharoor observed, “India's claims to a global leadership role in the world of the 21st century lie in the aspects and products of Indian society and culture that the world finds attractive. The roots of India's soft power run deep as ours is a civilization that has existed for millennia. We can reaffirm that the global respect that India has enjoyed comes from its ability to serve as an inspiring example of the successful management of diversity despite all the challenges we faced and overcame and this reflects India's essence. It radiates as a quiet force, achieves perceptions, nurtures goodwill and builds bridges across divides, unlike blunt instruments of coercion, soft power thrives on persuasion. India's vaccine diplomacy during the COVID pandemic stands as a powerful example of leadership rooted in responsibility and solidarity. India's technical prowess through its space programme opened new avenues for international collaboration and invited the world to partake in its dreams of a shared future among the stars. India has emerged as a formidable force in shaping the global space order and positioned itself as a partner of choice for nations seeking to join the frontier of space exploration.” Dr. Abhishek Singhvi, Member of Parliament, Rajya Sabha and Senior Advocate, Supreme Court of India reflected on the memory of his illustrious father and said, “He [Dr. L.M. Singhvi] was a renaissance person, multi-coloured and multi-faceted. The true meaning of a renaissance person is one who is a master of many subjects. His diplomacy in the UK touched great heights as was his glorious career in law, which he readily gave up when he took up the role of the High Commissioner. He also conceptualised the Law Day, now celebrated as Constitution Day. He was behind the entire diaspora movement based on his comprehensive report on Pravasi Bhartiya. He coined both the words Lokpal and Lokayukta in the 1960s and strived ceaselessly for decades to operationalize them in our body politic. He wrote the report which led to the 73rd and 74th constitutional amendments in Panchayati Raj and a revolution in local self-government. As a Member of Parliament, he believed in and practiced cross-party large- heartedness and magnanimity and shunned the narrow walls of divisiveness and distrust.” In his welcome address Professor (Dr.) C. Raj Kumar Founding Vice Chancellor, O.P. Jindal Global University said, “We are here to celebrate the life and legacy of Dr. LM Singhvi, and I would like to describe him as India's VIBGYOR Man and that essentially captures the many facets of his personality. His contributions span across many areas of public life and he remains as one of India's leading public intellectuals as well. I also want to thank, Dr. Abhishek Singhvi, for his philanthropic act of establishing this endowment in memory of his father, Dr. L.M. Singhvi, which for us is an opportunity to celebrate the legacy of one of India's leading jurists.” Professor (Dr.) S.G. Sreejith Executive Dean, Strategy & Institution Building, Jindal Global Law School said in his introductory remarks that Jindal Global Law School is honoured to receive this endowment. “Dr. L.M. Singhvi was not just a diplomat, statesman, and scholar—he had deep faith in the power of law, especially international law, as a universalizing force. To honour this vision, Jindal Global Law School hosts the annual Dr. L.M. Singhvi International Conference on International Law and International Relations and the Dr. Singhvi Memorial Lectures. These events celebrate Dr. L.M. Singhvi’s insights into intersections and his ability to bridge the relationship between international law and politics.” Professor Dabiru Sridhar Patnaik Registrar, O. P. Jindal Global University delivered the concluding address.

(Disclaimer: The above press release comes to you under an arrangement with O.P. Jindal Global University and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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