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    Banks to remain open on Sunday, 27th September, for convenience of customers
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September 23, 2026
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Essential banking service continuity requires Sunday operations by public sector and regional rural banks during the proposed strike.
Public Sector Banks and Regional Rural Banks will function normally on Sunday, 27 September 2026, to prevent an extended interruption to public banking needs during the proposed nationwide strike. Reserve Bank approval covers full operation of branches, offices, ATM-link branches and Currency Chests, alongside measures intended to maintain uninterrupted essential banking services.
September 23, 2026
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Money laundering allegations in public recruitment describe CSR-linked payments, examination manipulation, and candidate payments treated as proceeds of crime.
Money-laundering allegations concerning state public-service examinations identify two alleged streams of proceeds of crime: corporate social responsibility funding allegedly routed to an institution controlled by the former commission chairman in return for favouring selected candidates, and money allegedly collected from candidates and families for advance access to examination papers and secured selection. The alleged CSR payment was projected as legitimate institutional funding, while candidate-related collections were allegedly possessed, used, transferred, or projected as legitimate transactions.
September 23, 2026
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Banking service continuity measures require public sector and regional rural banks to operate on Sunday during the proposed strike.
Banking-service contingency arrangements require Public Sector Banks and Regional Rural Banks to operate normally on Sunday, 27 September 2026, ahead of a proposed three-day bank strike. Reserve Bank approval permits bank branches, offices, ATM-linked branches and currency chests to remain fully operational. Customers are advised to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike occurs, and to complete essential transactions in advance.
September 23, 2026
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Inflation-driven monetary tightening may accompany strong growth as demand, price increases and adverse supply conditions shape rate expectations.
Inflationary pressures, robust demand, price rises and adverse supply developments are expected to lead to policy-rate tightening by RBI. Fitch anticipates a 25-basis-point rate rise in October, further tightening in early 2027, followed by easing in 2028. Growth projections were upgraded following stronger-than-expected June-quarter activity, but activity is expected to moderate as the effects of GST rationalisation and income-tax cuts recede, manufacturing and services slow, and below-normal monsoon conditions affect activity.
September 23, 2026
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GDP growth forecast rises as domestic demand, investment, and public capital spending sustain economic resilience amid external risks.
India's GDP growth forecast for the current fiscal year is raised to 7 per cent, supported by investment demand, resilient consumption, manufacturing and services activity, lower-than-expected supply disruptions, and sustained capital inflows. Domestic demand, infrastructure expenditure, regulatory reforms, and improving private investment are expected to support growth. Inflation is projected to remain within the central bank's target range, subject to risks from geopolitical uncertainty, commodity prices, and weather-related disruption. Fiscal management is supported by public capital expenditure and robust direct-tax revenue.
September 23, 2026
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Primary and secondary investment funds ammunition manufacturing expansion, increasing small-caliber capacity and establishing medium-caliber production.
Hughes Precision Manufacturing Pvt. Ltd. completed a Rs. 250+ crore investment round through primary and secondary investments. The capital will expand small-caliber ammunition capacity from approximately 80 million to 220 million rounds and establish a dedicated medium-caliber ammunition manufacturing facility. The expansion broadens its product portfolio and is supported by an order book exceeding Rs. 1,000 crore, including domestic defence and export orders scheduled for execution over approximately two years.
September 23, 2026
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GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
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FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
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Export facilitation reforms integrate local support, digital trade intelligence, and streamlined Free Trade Agreement procedures to improve market access.
Export facilitation reforms contemplate integrated Commerce and Industry offices and trained local personnel to provide exporters with common access points and district-level handholding support. The Trade Connect platform is envisaged to provide product-wise and HSN-code-wise tariff, Free Trade Agreement and procedural information, supported by digital and AI-enabled tools. Reforms also address electronic verification of Certificates of Origin, integration across the export cycle, digitalisation, simplified trade documentation, reduced compliance burden, and adherence to international quality standards.
September 23, 2026
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Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 23, 2026
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Trade partnership frameworks seek diversified market access through proposed economic agreements, investment cooperation, stronger business linkages, and improved connectivity.
Trade and market-access cooperation is to be advanced through a proposed Comprehensive Economic Partnership Agreement with Chile, a proposed Free Trade Agreement with Peru, and expansion of the Preferential Trade Agreement with MERCOSUR. The frameworks seek mutually beneficial outcomes while respecting respective sensitivities and priorities. Diversified trade, investment and business partnerships are envisaged through stronger business-to-business linkages, improved connectivity and more predictable market access.
September 23, 2026
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Diplomatic engagement amid armed conflict continues as parties discuss reopening strategic waterways, energy security, and a potential negotiated settlement.
Diplomatic engagement between the United States and Iran resumed amid an ongoing armed conflict. The engagement concerned reopening the Strait of Hormuz and returning to negotiations toward a settlement, while the United States position combined willingness to engage with threats of escalated military action if an agreement was not reached. Regional consultations also addressed risks to oil carriage, energy supplies, and navigation through strategic waterways.
September 23, 2026
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Bilateral comprehensive trade agreement negotiations aim for conclusion at the G20, supporting diversification and renewed economic ties.
Comprehensive trade agreement negotiations between Canada and India are progressing, with both governments aiming to conclude discussions by the mid-December G20 summit. Formal negotiations commenced in March, accompanied by a broader commitment to complete the agreement by the end of 2026. The proposed arrangement forms part of renewed bilateral economic engagement and Canada's strategy to diversify trade relationships, strengthen market access and reduce dependence on a single market.
September 23, 2026
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Diesel export restrictions may worsen refinery constraints and consumer fuel costs amid global refining capacity disruptions.
Possible restrictions on diesel exports are being considered to address rising domestic diesel prices amid disruption to global refining capacity. Oil industry representatives oppose an export ban, contending that it could aggravate refinery-sector constraints and worsen supply conditions. They advocate increased supply and operational flexibility instead of new export restrictions, while farm-state senators support a diesel export ban.
September 22, 2026
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District-led economic development will align local resources, enterprise support and export promotion to strengthen regional economic opportunities.
The Uttar Pradesh Enabling District-Led Economic Growth project is proposed to convert district-specific resources into investment, employment, entrepreneurship and export opportunities. Its framework combines economic activity with stronger local administration and major investment proposals suited to local needs. Economic diversification is to expand manufacturing and services alongside agriculture, while local products are to receive improved design, packaging and access to global markets. Proposed measures also include enterprise development, women entrepreneurship, skills training, healthcare, agricultural processing and polyhouse development.
September 22, 2026
Show AI Summary
Healthcare access integration enables local outpatient ticketing and appointment booking through banking correspondents, alongside employee banking and patient-support initiatives.
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
September 22, 2026
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Money-laundering searches prompt allegations of pressure on an urban development body and disruption of welfare delivery programmes.
Survey and search operations under the Prevention of Money Laundering Act covered 26 premises, including the Greater Mohali Area Development Authority office and the Principal Secretary for Housing and Urban Development. AAP alleged that the action was intended to create fear and pressure among government officers and impede welfare and development initiatives. It described GMADA as a revenue-generating authority whose resources support public welfare, urban infrastructure and planned development.
September 22, 2026
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Public recruitment money laundering allegations include payments, examination-paper access, and recruitment-rule changes allegedly facilitating selected candidates.
Money-laundering proceedings concerning alleged irregularities in public-service recruitment examinations include a prosecution complaint against the former CGPSC chairman and others. Allegations concern payments to facilitate selections, access to examination papers for candidates, and collection of consideration. A former examination official is alleged to have aided a recruitment-rule amendment removing "nephew" from the definition of family, allegedly facilitating selection of relatives. The investigation is linked to an economic-offences FIR, a CBI complaint and related chargesheets.
September 22, 2026
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Five-day banking demand drives a proposed nationwide bank strike after conciliation remains inconclusive during half-yearly closing.
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
September 22, 2026
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PMLA maintainability turns on whether a private complaint can initiate money-laundering proceedings without a predicate-offence FIR.
Maintainability of PMLA proceedings is contested where the alleged scheduled offence originates in a private complaint rather than an FIR. Respondents contend that a private complaint cannot form the basis for an Enforcement Case Information Report, money-laundering investigation, or prosecution, because the statutory framework recognises predicate-offence action through an FIR or a complaint by a person authorised to investigate.

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Customs & Trade

Pahalgam attack: India bans imports from Pakistan; Committed to take 'firm and decisive' action against terrorists, their backers: PM Modi

May 3, 2025

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New Delhi, May 3 (PTI) India on Saturday imposed a ban on import of goods coming from or transiting through Pakistan and also entry of Pakistani ships into its ports even as Prime Minister Narendra Modi said the country is committed to take "firm and decisive" action against terrorists and their backers.

In fresh punitive measures against Pakistan that came into effect immediately amid heightened Indo-Pak tensions in the wake of the deadly Pahalgam terror attack, India also suspended exchange of mails, parcels from the neighbouring country via air and surface routes.

Terrorists killed 26 people, mostly tourists, in Jammu and Kashmir's Pahalgam on April 22, sparking outrage in India and abroad.

After holding wide-ranging talks with visiting Angolan President Joao Manuel Goncalves Lourenco, Modi said terrorism is the "biggest threat" to humanity.

"We are unanimous that terrorism is the biggest threat to humanity. I expressed my gratitude to President Lourenco and Angola for their condolences to those killed in the terrorist attack in Pahalgam," Modi said in his media statement.

"We are committed to take firm and decisive action against the terrorists and those who support them," he added.

The Pakistan army, meanwhile, said in a statement that it has conducted a successful training launch of the Abdali Weapon System — a surface-to-surface missile with a range of 450 km, saying it was aimed at ensuring the operational readiness of troops and validating key technical parameters.

In New Delhi, people familiar with the matter said India considers the test launch of the ballistic missile a "blatant" act of "provocation".

Jammu and Kashmir Chief Minister Omar Abdullah called on Prime Minister Modi and discussed various issues, including the Pahalgam attack, officials said.

The meeting at the prime minister's residence lasted around 30 minutes, they said. This is the first meeting between the two leaders after the attack.

As the hunt for the Pahalgam attackers intensified, Sri Lankan police searched a flight arriving in Colombo from Chennai after being tipped off that a suspect linked to the massacre could be on board, a police spokesperson said in the Sri Lankan capital. Indian authorities have identified four terrorists - including two Pakistani nationals - behind the Pahalgam carnage.

A statement from the national carrier SriLankan Airlines said the aircraft was thoroughly inspected and subsequently cleared for further operations.

According to an Indian government order, the complete ban on imports of all goods from Pakistan was imposed on the grounds of national security and public policy.

Though the 200 per cent import duty imposed on Pakistani goods in 2019 after the Pulwama attack had effectively halted direct imports, the latest decision also prohibits the entry of Pakistani goods routed through third countries.

India's exports to Pakistan in April-January 2024-25 stood at USD 447.65 million, while imports were meagre USD 0.42 million. These imports were limited to niche items like figs (USD 78,000), Basil and Rosemary herbs (USD 18,856), certain chemicals, and Himalayan pink salt. The imports were USD 2.88 million in 2023-24.

A provision has been added in Foreign Trade Policy (FTP) 2023 "to prohibit direct or indirect import or transit of all goods originating in or exported from Pakistan with immediate effect until further orders", the Directorate General of Foreign Trade (DGFT) said in a notification dated May 2.

It added that this restriction is imposed in the interest of "national security and public policy". Any exception to this prohibition will require approval of Government of India, the order said.

Inserting the provision under the heading "Prohibition on Import from Pakistan" in the FTP, it said: "Direct or indirect import or transit of all goods originating in or exported from Pakistan, whether or not freely importable or otherwise permitted, shall be prohibited with immediate effect, until further orders".

Commenting on India's decision, think tank Global Trade Research Initiative(GTRI) said that India does not depend on Pakistani goods, so the economic impact is minimal.

"However, Pakistan still needs Indian products and may continue accessing them through third countries through recorded and unrecorded routes. India's already minuscule imports from Pakistan will now drop to zero. No one in India will miss anything except perhaps Himalayan pink salt (sendha Namak), extracted from salt deposits of Pakistan," GTRI Founder Ajay Srivastava said.

Besides banning entry of Pakistani ships into Indian ports, India also barred Indian ships from visiting Pakistani ports, according to the Directorate General of Shipping (DGS). The restrictions were put into place with immediate effect, officials said.

The DGS said the order has been issued to ensure "safety of Indian assets, cargo and connected infrastructure" and "any exemption or dispensation from this order shall be examined and decided on case-to-case".

An order issued by the Department of Posts that operates under the Ministry of Communication said the government has decided to suspend exchange of all categories of inbound mail and parcels from Pakistan through air and surface routes.

The fresh moves came a week-and-half after India announced a raft of punitive measures against Pakistan including suspension of the Indus Waters Treaty, shutting down of the only operation land border crossing at Attari and downgrading of diplomatic ties following the terror attack.

In response, Pakistan shut its airspace to Indian airliners and suspended all trade with India, including through third countries. India has also banned Pakistan air carriers from using its airspace.

Pakistan rejected India's suspension of the Indus Waters Treaty and said any move to stop the flow of water will be seen as an "act of war".

Citing "cross-border linkages" to the April 22 attack, India has promised severe punishment to those involved in the strike.

Under the first set of punitive measures, India also revoked all visas issued to Pakistani nationals. PTI MPB RR ZMN ANU SKL NPK SH GSN GSN

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