Winning in the AI Era: The New Playbook for Indian Banks - Inaugural Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the FIBAC 202...
National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance. Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained. Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels. CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations. India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
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.
Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform. Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations. Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law. Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances. Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
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.
Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs. Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation. PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct. GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period. Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency. NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing. Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders. Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law. Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
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.
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.
26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced
Run of 57 trains to be extended
Frequency of 24 trains to be increased
First AC EMU rake to be introduced on Mumbai suburban network in 2013-14
72 additional services to be introduced in Mumbai and 18 in Kolkata
Rake length increased from 9 cars to 12 cars for 80 services in Kolkata and 30 services in Chennai
500 km new lines, 750 km doubling, 450 km gauge conversion targeted in 2013-14
First ever rail link to connect Arunachal Pradesh
Some Railway related activities to come under MGNREGA
For the first time 347 ongoing projects identified as priority projects with the committed funding
Highest ever plan outlay of Rs. 63,363 crore
Loan of Rs. 3000 crore repaid fully.
A new fund-Debt Service Fund set up to meet committed liabilities.
Freight loading of 1047 MT, 40 MT more than 2012-13
Passenger growth 5.2% in 2013-14
Gross Traffic Receipts – Rs. 1,43,742 crore i.e. an increase of 18,062 crore over RE, 2012-13
Dividend payment estimated at Rs. 6,249 crore
Operating Ratio to be 87.8% in 2013-14
Supplementary charges for super fast trains, reservation fee, clerkage charge, cancellation charge and tatkal charge marginally increased
Fuel Adjustment Component linked revision for freight tariff to be implemented from 1st April 2013
Enhanced reservation fee abolished
Elimination of 10797 Level Crossings (LC) during the 12th Plan and no addition of new LCs henceforth
Introduction of 160/200 kmph Self Propelled Accident Relief Trains
‘Aadhar’ to be used for various passenger and staff related services
Internet ticketing from 0030 hours to 2330 hours
E-ticketing through mobile phones
Project of SMS alerts to passengers providing updates on reservation status
Next –Gen e-ticketing system to be rolled out : capable of handling 7200 tickets per minute against 2000 now, 1.20 lakh users simultaneously against 40,000 now
Introduction of executive lounge at 7 more stations: Bilaspur, Visakhapatnam, Patna, Nagpur, Agra, Jaipur and Bengaluru
Introduction of ‘Azadi Express’ to connect places associated with freedom movement
Four companies of women RPF personnel set up and another 8 to be set up to strengthen the security of rain passengers, especially women passengers
10% RPF vacancies being reserved for women
1.52 lakh vacancies being filled up this year out of which 47000 vacancies have been earmarked for weaker sections and physically challenged
Railways to impart skills to the youth in railway related trades in 25 locations
Provision of portable fire extinguishers in Guard-cum-Brake Vans, AC Coaches and Pantry Cars in all trains
Pilot project on select trains to facilitate passengers to contact on board staff through SMS/phone call/e-mail for coach cleanliness and real time feedback
Provision of announcement facility and electronic display boards in trains
Providing free Wi-Fi facilities on several trains
Upgrading 60 stations as Adarsh Stations in addition to 980 already selected
Introduction of an ‘Anubhuti’ coach in select trains to provide excellent ambience and latest facilities and services
179 escalators and 400 lifts at A-1 and other major stations to be installed facilitating elderly and differently-abled
Affixing Braille stickers with layout of coaches including toilets, provision of wheel chairs and battery operated vehicles at more stations and making coaches wheel-chair friendly
Centralized Catering Services Monitoring Cell set up with a toll free number (1800 111 321)
Complimentary card passes to recipients of Rajiv Gandhi Khel Ratna & Dhyan Chand Awards to be valid for travel by 1st Class/2nd AC
Complimentary card passes to Olympic Medalists and Dronacharya Awardees for travel in Rajdhani/Shatabadi Trains
Travel by Duronoto Trains permitted on all card passes issued to sportspersons having facility of travel by Rajdhani/Shatabadi Trains
Facility of complimentary card passes valid in 1st class/2nd AC extended to parents of posthumous unmarried awardees of Mahavir Chakra, Vir Chakra, Kirti Chakra, Shaurya Chakra, President’s Police Medal for Gallantry and policy medal for Gallantry
Policy Gallantry awardees to be granted one complimentary pass every year for travel along with one companion in 2nd AC in Rajdhani/Shatabadi Trains
Passes for freedom fighters to be renewed once in three years instead of every year.
Setting up of six more Rail Neer bottling plants at Vijayawada, Nagpur, Lalitpur, Bilaspur, Jaipur and Ahmedabad
Setting up of a multi-disciplinary training institute at Nagpur for training in rail related electronics technologies
Setting up of a centralized training institute at Secunderabad--Indian Railways Institute of Financial Management
Five fellowships in national universities to be instituted to motivate students to study and undertake research on Railway related issues at M.Phil and Ph.D. levels
Fund allocation for staff quarters enhanced to Rs. 300 crore
Provision of hostel facilities for single women railway employees at all divisional headquarters
Provision of water closets and air conditioners in the locomotive cabs to avoid stress being faced by loco pilots
MKP/Samir/BS
(Release ID :92504)
Railway infrastructure and service expansion announced, including new lines, enhanced services, safety upgrades and digital ticketing improvements.
Railway policy for 2013-14 emphasises expansion of services and infrastructure, including new express and passenger trains, suburban AC EMU introduction, extended and increased frequencies, new lines, doubling and gauge conversions, and first rail link to Arunachal Pradesh. Financial measures include the highest plan outlay, full loan repayment, creation of a Debt Service Fund, projected traffic receipts and operating ratio, and marginal fare and freight tariff adjustments via a fuel adjustment component. Safety, accessibility and passenger amenities are advanced through accident relief trains, elimination of level crossings, station accessibility works, digital ticketing upgrades, and targeted recruitment and training initiatives.
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