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    August 12, 2026
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    Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
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    August 12, 2026
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    August 12, 2026
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    August 12, 2026
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    AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
    AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
    August 11, 2026
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    Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
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    GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
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    Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
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    Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
    Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
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    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
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    Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
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    August 11, 2026
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    Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
    Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
    August 11, 2026
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    Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
    Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
    August 11, 2026
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    Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
    Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.

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      Customs & Trade

      Jewellers' body urges suspension of business with Turkiye, Azerbaijan; educational institutes cancel MoUs

      May 16, 2025

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      New Delhi, May 16 (PTI) The All India Gem and Jewellery Domestic Council (GJC) urged the industry on Friday to suspend all business transactions with Turkiye and Azerbaijan in a show of support for Operation Sindoor, while reputed educational institutions, such as the IIT-Roorkee, cancelled MoUs signed with the universities of the two countries.

      Several trade bodies have given a call to boycott Turkish products, whereas Indian universities, including the JNU and Jamia Millia Islamia, have suspended their agreements with the two countries.

      The developments come against the backdrop of Turkiye backing Pakistan and its condemnation of India's strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir (PoK) under Operation Sindoor. Pakistan also used Turkish drones on a large scale during the military conflict with India.

      Azerbaijan had also actively supported Pakistan in the conflict.

      The Cochin International Airport Limited (CIAL) announced that it has discontinued the ground-handling services of Turkish company Celebi Airport Services India Private Limited, in compliance with the recent directives of the Bureau of Civil Aviation Security (BCAS) with regard to national security.

      In a statement, the CIAL said the services of the Turkish company were formally discontinued from Thursday.

      Aviation watchdog BCAS on Thursday revoked the security clearance for Celebi Airport Services India Private Limited in the "interest of national security".

      Operating in the Indian aviation sector for more than 15 years and employing over 10,000 people, Celebi offers its services at nine airports in the country -- Mumbai, Delhi, Cochin, Kannur, Bengaluru, Hyderabad, Goa, Ahmedabad and Chennai.

      Meanwhile, the Indian Institute of Technology (IIT), Roorkee said it has formally cancelled an MoU it had signed with Turkiye's Inonu University.

      The MoU provided a framework for potential academic and research collaborations, including student and faculty exchanges, a statement from the IIT-Roorkee said.

      "IIT-Roorkee stands firmly in support of national policy and strategic interests. As a leading institution, we are committed to ensuring that our global partnerships reflect the values, priorities, and security considerations of our country. Our focus remains on building meaningful and responsible academic collaborations that contribute to India's growth and global standing," Director Kamal Kishore Pant said.

      Punjab's Lovely Professional University (LPU), Hyderbabad-based Maulana Azad National Urdu University (MANUU) and Chhatrapati Shahu Ji Maharaj University (CSJMU) in Kanpur have also announced the termination of their memoranda of understanding (MoUs) with educational institutions of Turkiye and Azerbaijan.

      Jalandhar-based LPU became the first private university to terminate its associations with institutions in the two countries.

      "When our brave armed forces are risking their lives -- whether in covert operations, air defence, or patrolling our borders -- we, as an institution, cannot remain indifferent. LPU's mission has always been aligned with the growth and integrity of India, and we will never associate with any institution that undermines India's sovereignty," the university's founder-chancellor and Rajya Sabha member Ashok Kumar Mittal said.

      The MANUU, a central university, has announced the cancellation of its academic MoU with the Yunus Emre Institute in Turkiye for a diploma course with immediate effect.

      The university said it signed the MoU with the Turkish institute in 2020 for five years under which a diploma in Turkish language was started at the School of languages, linguistics and Indology in the MANUU.

      A visiting professor who was appointed for the course has already returned to his country, the university informed.

      The Jawaharlal Nehru University (JNU) and the Jamia Millia Islamia (JMI), both based in Delhi have also suspended their agreements with the two countries.

      Meanwhile, in a statement posted on social media, the Azad United Students' Federation (AUSF) said it strongly condemns the decisions of the MANUU, JMI and JNU to cancel or suspend their academic MoUs with institutions in the Republic of Turkiye.

      India has never closed its doors to intellectual engagement, even in times of political strife. Using allegations of terrorism or political disagreements as a pretext to curb academic cooperation undermines the very spirit of higher education and international understanding, the AUSF read.

      In a statement, GJC chairman Rajesh Rokde said, "The Indian gem and jewellery sector stands united in support of the nation. It is imperative that our industry sets a strong example by prioritising the country over commerce. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkiye and Azerbaijan." He said this collective action reflects the industry's unwavering commitment to national interests and solidarity with Operation Sindoor.

      "By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security," he added.

      Jewellers in Lucknow have decided to boycott the purchase, sale and display of Turkish-design jewellery and other jewellery items imported from Turkiye.

      "On Akshay Tritiya, which was celebrated recently, the maximum demand was for Turkish jewellery. Now, after Turkiye's active support to Pakistan during Operation Sindoor, we have decided not to import any more Turkish jewellery items. A decision in this regard was taken on Wednesday," Aadish Jain, vice-president of the Chowk Sarafa Association, Lucknow, told PTI.

      The Confederation of All India Traders (CAIT) has also decided to boycott all trade and commercial engagements with Turkiye and Azerbaijan.

      Turkish apples are off the shelves in Alwar's fruit markets as traders in Rajasthan joined the chorus to boycott products from Turkiye.

      Earlier, marble traders in Ajmer had refused to import stones from Turkiye.

      "More than 15 tonnes of Turkish apples arrive in Rajasthan every day between March and June," said Saurabh Kalra, general secretary of the Fruit Mandi Union.

      "Due to Turkiye's stand against India, we have decided to stop selling them. This is not just a market decision, it's a message," he added.

      Posters calling for a "Boycott of Turkish apples" will be put up at shops starting Friday. An awareness drive will also be launched to ensure that no Turkish apples are sold in the market. "If any trader is found selling them, it will be treated as an act against national interest," Kalra added.

      The Swadeshi Jagran Manch (SJM) held a protest against Turkiye over its "military support" to Pakistan and called for a boycott of Turkish products, cultural exports and travel to the country as a mark of solidarity with Indian soldiers and in national interest.

      The protest was held near the Embassy of Turkiye in Delhi, with SJM activists raising slogans against that country and appealing to Indians to "boycott everything Turkish".

      Similar protests were held at other places across the country as well. PTI TEAM RC

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