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    11th Meeting of National Traders’ Welfare Board Convened in New Delhi
    DRI seizes 9.40 kg foreign-origin gold worth around Rs. 15 crore at Mumbai airport; three arrested
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September 25, 2026
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Trader welfare policy discussions covered GST reform, digital commerce, finance access, export promotion, and coordinated institutional support.
Deliberations covered GST rationalisation, refund delays, audit duration, amnesty schemes, input tax credit anomalies and pending appeals, alongside proposed inclusion of traders in MSME facilitation committees, a centralised loan portal with a 30-day timeline, CIBIL score reforms and grievance helplines. Trader welfare measures considered timely contractor payments, safeguards against technical penalties, loan-repayment flexibility during lean periods and stronger Centre-State coordination.
September 25, 2026
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Gold smuggling through powdered gold concealed in food products led to seizure and arrests under customs law.
Intelligence-led interception and baggage examination identified foreign-origin gold converted into fine powder and mixed with packaged food products of similar colour, texture and consistency. Segregation and assaying yielded 9.40 kg foreign-origin gold, which was seized under the Customs Act, 1962. Questioning linked the passengers to the same organised gold-smuggling syndicate, and they were arrested under that Act.
September 25, 2026
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Customs seizure of suspected smuggled areca nuts and restricted poppy seeds followed intelligence-led cross-border enforcement operations.
Intelligence-led customs enforcement in Mizoram and Assam resulted in seizure, under the Customs Act, 1962, of suspected foreign-origin areca nuts and poppy seeds believed on preliminary inquiry to have been smuggled from Myanmar. Searches of locked, unattended godowns near the Indo-Myanmar border recovered the commodities, while interception of two trucks carrying poppy seeds without valid import documents led to seizure of the consignments and vehicles. Four persons connected with transportation of the poppy seeds were arrested.
September 25, 2026
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Industrial control system cybersecurity certification validates system-level protection across wind farm controls, networks, and lifecycle security services.
IEC 62443-3-3 Security Level 2 certification applies to a wind farm control system covering SCADA, PPC, PLC and industrial network devices. It assesses system-level security requirements, including the interaction of components, networks and security mechanisms within an overall industrial control environment. The cybersecurity framework also spans secure development, certified core control components, system-level protection, and security integration and maintenance services across the lifecycle of wind energy technologies.
September 25, 2026
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Foreign exchange reserve composition reflects a weekly decline driven by foreign currency assets despite a modest gold increase.
India's foreign exchange reserves declined by USD 14.881 billion to USD 765.901 billion for the week ended 18 September 2026. The contraction was principally driven by a reduction in foreign currency assets, which also reflect valuation effects from movements in non-US reserve currencies. Gold reserves increased, while Special Drawing Rights decreased and the reserve position with the International Monetary Fund remained reported separately.
September 25, 2026
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Five-day banking proposal remains under consideration amid strike plans and measures for uninterrupted banking and advance disbursements.
Five-day banking remains under governmental consideration, with no Finance Ministry commitment to implementation. Unions linked the proposal to the 12th Bipartite Settlement/9th Joint Note, which contemplated extended Monday-to-Friday working hours. Family pension revision and a pension option for resignees were identified as addressed, while withdrawal of the Performance Linked Incentive scheme remains in abeyance. Public sector banks were instructed to remain open on the preceding Sunday, and central government salaries, wages and pensions were directed to be disbursed in advance.
September 25, 2026
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Alternative fuel transition promotes ethanol, electric and hydrogen mobility to reduce imports, pollution, and strengthen farm income.
Alternative-fuel and public-transport measures seek to reduce dependence on imported petroleum, curb air pollution, and support farmer income and employment. Ethanol is positioned as a farm-income source through increased demand and returns for maize growers, alongside electricity, hydrogen and waste-derived CNG. Development and introduction of flex-fuel vehicles, using engines capable of operating on ethanol, electric tractors, hydrogen-powered vehicles and hydrogen buses form part of a cleaner-mobility strategy.
September 25, 2026
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Foreign-exchange market intervention expectations supported rupee appreciation amid improved risk sentiment, while importer demand and crude prices constrained gains.
Foreign-exchange market conditions supported a 19-paise appreciation of the rupee to 95.80 against the US dollar, aided by improved global risk sentiment and expectations of Reserve Bank intervention. Dollar demand from importers, high crude prices and US dollar strength constrained gains. Lower crude prices and dollar weakness could support the rupee, while geopolitical escalation may create pressure. Market participants expected intervention if the currency weakened toward 96.
September 25, 2026
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Credit health assessment combines score, repayment history, utilisation, accounts and enquiries to support informed borrowing and profile monitoring.
Credit health is broader than a numerical credit score and encompasses the way credit has been managed over time. Credit analysis requires a combined review of the score, repayment history, credit accounts, credit utilisation, credit history and credit enquiries. A credit report may identify management of EMIs and credit-card dues, existing borrowing obligations, use of revolving credit relative to available limits, and recent lender checks associated with credit applications. Incorrect or unfamiliar entries may be reviewed and, where necessary, raised with the relevant lender or credit bureau.
September 25, 2026
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Fuel-price mitigation measures use tax reductions, targeted subsidies and energy-security policies to ease pressure on households and energy-intensive industries.
European fuel-price intervention combines targeted subsidies, fuel-tax reductions, temporary regulatory flexibilities and energy-security investment to moderate the economic effects of sharply higher gasoline and diesel prices caused by disrupted supplies. Member States have temporary discretion to grant state aid to households and energy-intensive sectors, including agriculture, transport and fishing, and limited flexibility under EU spending rules for investments that improve energy security and reduce dependence on imported fossil fuels.
September 25, 2026
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AI management certification anchors responsible lifecycle governance, transparency, accountability, security, and human oversight for agentic loyalty systems.
ISO/IEC 42001:2023 certification applies to an Artificial Intelligence Management System governing AI development, deployment, oversight and continual improvement within the GRAVTY platform. The framework supports AI-related risk management, responsible governance, transparency, accountability, security and human oversight throughout the AI lifecycle. Its scope includes supervised and unsupervised learning models and large language models supporting personalised engagement, fraud management, loyalty intelligence, autonomous decision-making, operational automation and workflow support.
September 25, 2026
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Digital warehousing controls propose electronic tracking, secure transport, monthly returns, and risk-based compliance verification for warehoused goods.
Draft Warehousing Operations Regulations, 2026 would require public and private warehouse licensees to use the electronic portal and a digital warehouse management system for receipt, storage, transfers, removals and accounting of warehoused goods. Transport would generally require a one-time-lock and transit-risk insurance, subject to specified exemptions. Licensees would verify locks and goods, report discrepancies, maintain auditable electronic records, submit monthly returns, and permit removals for home consumption or export only upon electronic clearance orders. Non-confirmation, discrepancies and contraventions would trigger information demands, risk-based verification and action under the Customs Act.
September 25, 2026
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Technology risk governance requires banks to retain accountability, test resilience, and govern artificial intelligence before scaling financial services.
Technology risk governance must treat technology architecture as a first-order enterprise risk, alongside conventional financial risks, because the availability and integrity of core banking, payments, onboarding, credit, fraud-monitoring and reporting systems determine whether customers can access essential financial services. Banks may outsource technology functions but retain accountability for access controls, concentration, recoverability, data protection and exit options. Effective resilience requires secure architecture, asset visibility, timely remediation of vulnerabilities and legacy systems, identity and access management, effective controls, third-party oversight, post-incident learning, and regular recovery testing.
September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
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.

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US selling weapons to NATO allies to give to Ukraine, Trump says

July 11, 2025

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Washington, Jul 11 (AP) The United States is selling weapons to its NATO allies in Europe so they can provide them to Ukraine as it struggles to fend off a recent escalation in Russia's drone and missile attacks, President Donald Trump and his chief diplomat said.

“We're sending weapons to NATO, and NATO is paying for those weapons, 100 per cent,” Trump said in an interview with NBC News late Thursday. “So what we're doing is, the weapons that are going out are going to NATO, and then NATO is going to be giving those weapons (to Ukraine), and NATO is paying for those weapons." Secretary of State Marco Rubio said Friday that some of the US-made weapons that Ukraine is seeking are deployed with NATO allies in Europe. Those weapons could be transferred to Ukraine, with European countries buying replacements from the US, he said.

“It's a lot faster to move something, for example, from Germany to Ukraine than it is to order it from a (US) factory and get it there,” Rubio told reporters during a visit to Kuala Lumpur, Malaysia.

Ukraine badly needs more US-made Patriot air defence systems to stop Russian ballistic and cruise missiles. The Trump administration has gone back and forth about providing more vital military aid to Ukraine more than three years into Russia's invasion.

After a brief pause in some weapons shipments, Trump said he would keep sending defensive weapons to Ukraine. US officials said this week that some were on their way.

Ukraine is seeking more coveted Patriot air defence systems NATO itself doesn't send weapons to Ukraine or otherwise own or handle arms — which its 32 member nations take care of — but ships items like medical supplies and fuel.

“Allies continue to work to ensure that Ukraine has the support they need to defend themselves against Russia's aggression," NATO spokesperson Allison Hart said. "This includes urgent efforts to procure key supplies from the United States, including air defence and ammunition.” Germany, Spain and other European countries possess Patriot missile systems, and some have placed orders for more, Rubio said.

The US is encouraging its NATO allies “to provide those weapons, systems, the defensive systems that Ukraine seeks … since they have them in their stocks, and then we can enter into financial agreements with them, with us, where they can purchase the replacements,” Rubio said.

Ukraine has asked other countries to supply it with an additional 10 Patriot systems and missiles, Ukrainian President Volodymyr Zelenskyy said Thursday. Germany is ready to provide two systems, and Norway has agreed to supply one, he said.

German Chancellor Friedrich Merz said Thursday that officials “stand ready to acquire additional Patriot systems from the US and make them available to Ukraine.” Asked how many Patriot systems Germany is interested in buying, Merz didn't give a number. But he said that he spoke to Trump a week ago “and asked him to deliver these systems.” In addition to the Patriots, the weaponry that could be sold to NATO members includes advanced medium-range air-to-air missiles, shorter range missiles and Howitzer rounds, according to a person familiar with the internal White House debate. The person spoke on condition of anonymity to discuss private discussions.

The White House did not immediately respond to a request for comment seeking more details.

Republican Sen. Lindsey Graham of South Carolina, who has been in touch with Trump in recent days, said it's in the US national security interest to sell weapons to Ukraine, and “Europe can pay for them.” “We have the best weapons. They sure as hell know how to use them,” Graham said in an interview in Rome while attending a meeting on the sidelines of a Ukraine recovery conference.

The ability of allies to purchase US weapons for Ukraine would get around a possible stalemate from Congress in funding for Kyiv once the most recent Ukraine aid package approved last year runs out. Even with broad support in Congress for backing Ukraine, it's unclear if more funding would be approved.

Russia has recently sought to overwhelm Ukraine's air defences by launching major aerial attacks. Earlier this week, Russia fired more than 700 attack and decoy drones at Ukraine, topping previous nightly barrages for the third time in two weeks.

At the same time, Russia's bigger army is pressing hard on parts of the 1,000-kilometer (620-mile) front line, where thousands of soldiers on both sides have died since the Kremlin ordered the invasion of neighbouring Ukraine in February 2022.

Evolving stance on Putin Trump's efforts to facilitate Ukraine's weapon supply come as he has signalled his displeasure with Russian President Vladimir Putin. At a Cabinet meeting this week, he said he was “not happy” with Putin over a conflict that was “killing a lot of people” on both sides.

Graham says Trump has given him the go-ahead to push forward with a bill he's co-sponsoring that calls, in part, for a 500 per cent tariff on goods imported from countries that continue to buy Russian oil. Trump said Tuesday that he's “looking at it very strongly.” In the NBC News interview, Trump teased that he will make a major announcement on Russia next week.

The US president also has had a tumultuous relationship with Zelenskyy, which reached a low point during an Oval Office blowup in February when Trump berated him for being “disrespectful.” The relationship has since shown signs of rebounding.

The two leaders spoke by phone last week about Ukraine's air defenses. Zelenskyy said Thursday that talks with Trump have been “very constructive.” Impact of the latest Russian attacks In the latest attacks, a Russian drone barrage targeted the center of Kharkiv just before dawn Friday, injuring nine people and damaging a maternity hospital in Ukraine's second-largest city, officials said.

“There is no silence in Ukraine,” Zelenskyy said. A daytime drone attack on the southern city of Odesa also injured nine.

Kyiv, the Ukrainian capital, has endured repeated and intensifying drone attacks in recent weeks, as have many other regions of the country, mostly at night.

June saw the highest monthly civilian casualties of the past three years, with 232 people killed and 1,343 wounded, the UN human rights mission in Ukraine said.

Other weapons sought by Ukraine Zelenskyy urged Ukraine's Western partners to quickly follow through on pledges they made at the international meeting in Rome on Thursday.

Ukraine needs more interceptor drones to bring down Russian-made Shahed drones, he said.

After repeated Russian drone and missile onslaughts, authorities said Friday they're establishing a comprehensive drone interception system under a project called Clear Sky. It includes a $6.2 million investment in interceptor drones, operator training and new mobile response units, the Kyiv Military Administration said.

“We found a solution. ... That's the key,” Zelenskyy said. “We need financing. And then, we will intercept.”(AP) RD RD

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