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    Latur CA booked for issuing certificates to facilitate remittance of hundreds of crores abroad
    Stock Market for Beginners: How to Start Investing Without Feeling Overwhelmed
    CGST Zone detects clandestine pan masala, tobacco unit, detects tax evasion of Rs 160 cr
    Korea Industry Expo (KoINDEX) 2026 Opens at Yashobhoomi on 27 August
    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
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    India-Finland cooperation takes centre stage at circular economy forum
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August 22, 2026
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Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
August 22, 2026
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Beginner stock market investing requires regulated accounts, risk-aware financial planning, diversification and informed company assessment before purchasing securities.
Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
August 22, 2026
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Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.
August 22, 2026
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Trade exhibition connects Korean exporters with Indian buyers through sector-specific consultations and certification guidance for market entry.
KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
August 22, 2026
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Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
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Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.

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Chandigarh University Uttar Pradesh to Play Key Role in FinTech & Banking Education with Industry Collaborations for Practical Learning: TCS Sr. Consultant, Ambrish Srivastava

May 31, 2025

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Chandigarh University will create industry-ready professionals for Banking and Financial Services Companies says ICAI Chairman, CA Anurag Pandey Lucknow, Uttar Pradesh, India (NewsVoir) The Faculty of Business and Commerce at Chandigarh University, Uttar Pradesh organised a panel discussion focused on India’s transformation through education and its goal to become a $7 trillion economy by 2030. The event witnessed participation from industry leaders, academicians and expert panellists. Held in two sessions, the discussion delved into themes such as changes in education, the future of the economy, and the roadmap for achieving the $7 trillion economic goal.

The panel also explored how AI will impact employment in the coming years. Speakers highlighted that AI-based jobs are likely to witness a 40 percent rise over the next five years. According to the India Skills Report 2024, the AI industry in India is expected to reach USD 28.8 billion by the end of 2025. Additionally, as per a report by ServiceNow and Pearson, AI is projected to generate 2.8 million new jobs in India by 2028. Under the Uttar Pradesh government's newly launched UP AI City Project, a target has been set to create 50,000 direct and indirect jobs over the next five years, reflecting the promising future of AI in India.

Dr. Ajay Yadav, Registrar, Chandigarh University, Uttar Pradesh said, "It is a proud moment for us to host the first business school panel discussion at Chandigarh University Uttar Pradesh in the presence of esteemed dignitaries. This institution is not merely a project—it is a dream to create one of the finest educational spaces in India, with an investment of over ₹2,500 crore. Our vision is to build an iconic learning environment in the state capital region—one that parallels global standards and fulfills the aspirations of students who otherwise seek education abroad. We look forward to continued support and collaboration from academia and industry alike as we shape this dream into reality." The Chief Guest, Prof. Manuka Khanna, Pro Vice-Chancellor, University of Lucknow said, "It was a delight to visit Chandigarh University Uttar Pradesh and witness the energy and vision shaping this emerging institution. The integration of AI across disciplines, coupled with a strong focus on skill development and incubation, reflects the future of higher education. Initiatives like these will empower students with real-world capabilities and position India as a global hub for innovation and talent. As the National Education Policy gains momentum, such models will play a vital role in transforming the educational landscape." According to the Stanford AI Index 2024, India ranks first globally in AI skill penetration and has recorded a 263 percent growth in this sector since 2016. Moreover, India has now emerged as the world’s third-largest startup ecosystem, having generated over 1.6 million jobs through 1.57 lakh startups. These statistics indicate that India is becoming a global power in AI skills, innovation, and entrepreneurship.

While speaking on the role of AI in the finance and commerce sectors, speakers pointed out how AI is making processes such as data analysis, customer service, fraud detection and investment advisory faster, more accurate, and more secure than ever before. AI-powered chatbots and automated tools are not only improving customer experience but also enhancing critical functions like risk management and credit scoring. This is making banking and financial services more transparent and efficient.

Speakers also emphasized that cyber fraud has become a major challenge in the digital era, and AI is proving to be an effective tool in combating it. AI-based systems can identify suspicious transactions in real-time. Thus, AI technology is playing a significant role not only in economic and educational development but also in strengthening cybersecurity. The event was graced by Prof. Manuka Khanna, Pro Vice Chancellor of Lucknow University as the chief guest, and by special guests including Prof. Neel Mani Verma, former Vice Chancellor of BBAU Lucknow, Prof. Amarendra Pratap Singh from IGNTU Amarkantak, and Mr. Ambarish Srivastava, Senior Consultant, TCS Lucknow.

During the discussion, experts also stressed that aligning education with innovation, industry needs, and the vision of Digital India can not only make Indian youth globally competitive but also help India become economically self-reliant and prosperous. The discussion underlined that long-term thinking and an inclusive approach in education policies are essential to ensure that every section of society is integrated into the mainstream of economic development.

In the first session, titled "Future of Education and Economy," in-depth discussions were held on changes in education and the future of the economy. The session was moderated by Prof. Alka Singh from the Faculty of Business and Commerce, Chandigarh University UP. Key speakers included Prof. Manuka Khanna, Pro Vice Chancellor, University of Lucknow; Prof. Neel Mani Verma, former Vice Chancellor, Babasaheb Bhimrao Ambedkar University, Lucknow; Prof. Amarendra Pratap Singh, Professor, Indira Gandhi National Tribal University, Amarkantak; and Mr. Ambarish Srivastava, Senior Consultant, Tata Consultancy Services, Lucknow.

This session saw a deep exchange of ideas on India's new education policy, technology-driven education systems, the relationship between industry and academia, and the role of education in economic growth. A key thought that emerged was that adopting innovation and industry-oriented vision in education systems can make India’s economy stronger and more inclusive.

In the second session titled "Roadmap to a $7 Trillion Economy", the speakers discussed the necessary steps to take India’s economy to the next level. This session was moderated by Prof. Ashutosh Bajpai from the Faculty of Business and Commerce, Chandigarh University UP. Key speakers included Prof. Manoj Agrawal, Professor, Department of Economics, Lucknow University; Prof. Saurabh, Dean, Siddharth University, Kapilvastu; and CA Anurag Pandey, Chairman of the Lucknow Branch of ICAI. All the speakers, being experts in their respective fields, shared valuable insights on the role of education, policy and investment in India’s economic advancement.

Mr. Ambrish Kumar Srivastava, Senior Consultant, TCS said, "With nearly 60% of our population under the age of 35, India has a vast talent pool ready to be empowered through technology-driven education. Chandigarh University Uttar Pradesh is leading this transformation by integrating AI across disciplines and building a future-ready curriculum. Its strong industry collaborations and focus on innovation are preparing students for diverse roles—from fintech and manufacturing to defence—making them truly industry-ready." CA Anurag Pandey, Chairman, Lucknow Branch of ICAI said, "Financial discipline, tax reforms, and a strong regulatory framework are crucial for sustainable national growth. As financial professionals, we play a vital role in shaping this journey. I appreciate Chandigarh University Uttar Pradesh’s beautiful campus and its commitment to practical, industry-aligned education. With a strong focus on AI and global collaborations, the university is empowering students with the skills needed to become future-ready professionals." About Chandigarh University Uttar Pradesh (Lucknow) Envisioned to foster a culture of sustainability and empower future global leaders, Chandigarh University, Uttar Pradesh, immerses 21st-century learners in a personalised and experiential learning experience, integrating an AI-powered academic model and a multidimensional, futuristic perspective on education. Our Uttar Pradesh campus carries forward the venerable legacy of more than a decade of Chandigarh University, Punjab, which has established itself as India's No. 1 Private University and a torchbearer of groundbreaking pedagogy and research-driven innovation. The AI-augmented new campus offers a broad spectrum of industry-driven futuristic academic programs encompassing data-driven insights, virtual reality experiences, real-world simulations, corporate mentorship, international perspective, interdisciplinary research, cultivation of entrepreneurial spirit, and professional competencies.

For more information, please visit www.culko.in.

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

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