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    SIDBI organizes a conclave of the Heads of Regional Rural Banks (RRBs) on expanding SIDBI-RRB MSME Co-Lending arrangement
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    HC flags fraudulent use of Aadhaar by infiltrators to get Indian citizenship; calls for action
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August 26, 2026
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Alternative dispute resolution enabled settlement of long-pending disputes, alongside reporting on court administration and regulatory compliance concerns.
Legal developments include resolution of long-pending tenancy, commercial and property disputes through a special Lok Adalat mechanism, including a digitally signed international settlement. Other matters concern a challenge to a riot-related murder conviction, allegations of administrative irregularities and selective case listing, fast-track court pendency, cancellation of a recruitment process following suspected examination malpractice, fraudulent identity documents used to claim citizenship, medical-qualification standards, and opposition to uranium exploration and mining.
August 26, 2026
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MSME co-lending supports digital paperless credit delivery through rural banks for underserved rural and semi-urban enterprises.
SIDBI-RRB MSME co-lending arrangement is proposed for expansion to increase credit access for micro, small and medium enterprises in rural and semi-urban areas. The arrangement combines SIDBI's understanding of MSME credit requirements with Regional Rural Banks' local reach. SIDBI's Co-Lending Origination Platform provides an end-to-end digital credit process intended to enable faster, paperless loan processing, in-principle sanction communication, documentation and direct account disbursement without branch visits.
August 26, 2026
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Input tax credit mismatch alone cannot support fraud-based GST demand without an assessing officer's recorded satisfaction of fraud or suppression.
Section 74 GST demand proceedings require the assessing officer's independent satisfaction of fraud, wilful misstatement or suppression of facts. An input tax credit mismatch or alleged short payment alone cannot establish these conditions. Unsupported assertions of suppression for invoking extended limitation are insufficient, and audit objections cannot replace the assessing officer's satisfaction. A show cause-cum-demand notice lacking factual allegations of a deliberate device to evade tax or avail excess input tax credit is vulnerable.
August 26, 2026
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Fraudulent Aadhaar procurement exposes identity-verification gaps and prompts disclosure, expedited investigation, deportation, and statutory review measures.
Fraudulent procurement of Aadhaar and other identity documents by foreign nationals who infiltrate borders may undermine identity verification, immigration control and national security. Coordinated action is required to trace and deport such persons, prevent re-entry, strengthen document verification, and complete investigations without delay. Amendments to the Aadhaar Act are to be considered to assist investigating agencies, while a dedicated procedure is required to address border infiltration and human trafficking. Aadhaar enrolment records are to be supplied to police, followed by timely deportation proceedings.
August 26, 2026
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Foreign investment liberalisation proposals receive industry support, subject to preserving AIF treatment, grandfathering, and prospective application.
Proposed foreign-investment liberalisation, including treatment of stakes below 10 per cent and a greater role for market forces in valuation, is welcomed. Preservation of the existing treatment of Alternative Investment Funds under the IOCC framework is emphasised, together with grandfathering of transactions and funds undertaken under the current regulatory position. Newly introduced requirements should operate prospectively to support a simpler, predictable and investment-friendly foreign-investment framework.
August 26, 2026
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India market expansion guides Nestle 's volume-led growth, export-hub development and long-term investment without compromising product quality.
Nestle 's India strategy focuses on volume-led growth, wider consumer reach, portfolio development, efficiency improvements and sustained long-term investment. Growth is intended to combine increased household penetration with pricing, premiumisation, affordability and value offerings. India is also intended to develop further as a production and export hub for global markets, supported by manufacturing capacity and expanding overseas supplies. Product quality and consumer interests remain constraints on the pace of expansion.
August 26, 2026
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Credit awareness through regular score and report review supports responsible borrowing, error detection, and informed credit management.
Free online access to the Credit Pulse Report is available through the Bajaj Finance website. Users verify their registered mobile number through OTP authentication, provide identifying particulars including PAN and date of birth, and then view the available credit score. The report may be reviewed and downloaded to examine repayment history, active credit accounts, recent enquiries and other recorded credit information. Periodic review can help identify unfamiliar accounts, inaccurate repayment records, overdue amounts, unupdated information and changes in credit utilisation.
August 26, 2026
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Credit lifecycle consistency requires facility-specific treatment so UPI-linked credit records, repayments and customer obligations remain aligned.
CARD91's Credit Lifecycle Consistency Framework calls for facility-specific treatment of Credit Line on UPI transactions and continuing credit events. Credit limits, outstanding balances, repayments, refunds, reversals and EMI conversions should be accurately connected to the relevant customer account and applied according to the underlying facility's terms. Bank policy, customer consent, transaction controls and portfolio actions should remain aligned. Customer-facing applications, statements and alerts should consistently reflect available credit, outstanding obligations and repayment schedules, while disputes and manual corrections follow documented, reviewable processes.
August 26, 2026
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Non-revolving credit lines require term-loan structures supporting multiple drawdowns without replenishing sanctioned limits for NBFC lending products.
Proposed restrictions on revolving credit facilities for most NBFCs would generally require credit products to operate as term loans, rather than facilities in which principal repayment automatically restores the available borrowing limit. Compliance may require technology capable of managing multiple drawdowns within an approved sanction, separate repayment schedules, amortisation and servicing workflows, while preventing repaid principal from replenishing the sanctioned limit.
August 26, 2026
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Reciprocal trade tariffs intensify as negotiations confront market access, cultural protections, industrial safeguards, and sovereignty concerns.
US-Canada tariff escalation involves reciprocal import duties following failed negotiations over market access and trade in dairy, alcoholic beverages, automobiles, steel, aluminium and softwood lumber. United States tariff action relies on a rarely used trade-law power permitting duties against countries considered to discriminate against American businesses, without a prior investigation or stated time limit. Negotiations also raised concerns about protection of major industries, cultural protections and Canada's freedom to conclude trade agreements with other countries.
August 26, 2026
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Diaspora engagement supports skilled mobility, investment links, remittances, and citizen welfare while encouraging compliance with local laws.
Indian diaspora engagement in Japan supports bilateral goodwill, business links, investment opportunities and people-to-people ties. Skilled Indian professionals are encouraged to understand local requirements, learn Japanese language and culture, and pursue opportunities in healthcare, trades, engineering, artificial intelligence, accountancy and maritime work. Diaspora members are also encouraged to maintain connections with India, contribute through digital education and knowledge-sharing, and comply with local laws and regulations. Remittances and government support for citizens' welfare, safety and crisis assistance abroad are recognised as important aspects of diaspora engagement.
August 26, 2026
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Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review.
India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
August 26, 2026
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Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities.
The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
August 26, 2026
Show AI Summary
Competition clearance for full acquisition permits Cyient to acquire Tao Digital Solutions, a global digital transformation and technology services provider.
Competition Commission of India approved Cyient Limited's acquisition of 100% of Tao Digital Solutions Inc.'s share capital from its existing shareholders. The full share capital acquisition transfers complete ownership of Tao Digital Solutions to Cyient. Tao Digital Solutions provides global digital transformation and technology services, including product engineering, managed services, cybersecurity, payments, digitization and AI, cloud services, and data services, and operates in India through its wholly owned subsidiary, Tao Digital India Private Limited.
August 26, 2026
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Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales.
Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
August 25, 2026
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Customs classification of unassembled vehicle imports requires fresh hearing after reserved tax challenge was released without verdict.
The dispute concerns customs classification of imported unassembled vehicle parts. Customs authorities allege that parts imported in separate shipments should have been declared as completely knocked down (CKD) units, attracting the higher duty applicable to CKD imports, rather than as individual components subject to lower duty. The manufacturer contests the resulting customs demand. Proceedings have been released for fresh hearing before the regular indirect-tax writ bench, with status quo maintained for four weeks.
August 25, 2026
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Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
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Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
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Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
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BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.

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Customs & Trade

Trump says US will impose 19% tariff on imports from Philippines in deal struck with leader Marcos

July 23, 2025

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Washington, Jul 23 (AP) President Donald Trump said he has reached a trade agreement with Philippine leader Ferdinand Marcos Jr. following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there.

Trump revealed the broad terms of the agreement on his social media network and said the U.S. and the Philippines would work together militarily. The announcement of a loose framework of a deal comes as the two countries are seeking closer security and economic ties in the face of shifting geopolitics in the Indo-Pacific region.

Marcos' government indicated ahead of the meeting that he was prepared to offer zero tariffs on some U.S. goods to strike a deal with Trump. The Philippine Embassy did not immediately respond to a message seeking comment.

Marcos' three-day visit to Washington shows the importance of the alliance between the treaty partners as China is increasingly assertive in the South China Sea, where Manila and Beijing have clashed over the hotly contested Scarborough Shoal.

Washington sees Beijing, the world's No. 2 economy, as its biggest competitor, and consecutive presidential administrations have sought to shift U.S. military and economic focus to the Asia-Pacific in a bid to counter China. Trump, like others before him, has been distracted by efforts to broker peace in a range of conflicts, from Ukraine to Gaza.

Trump announces a trade deal with the Philippines Trump said on Truth Social that the U.S. would impose a 19% tariff rate on the Philippines, down from a 20% tariff he threatened starting Aug. 1. In return, he said, the Philippines would have an open market and the U.S. would not pay tariffs.

Without further details on the agreement, it's unclear how it will impact their countries' economies.

Trump wrote that Marcos' visit was “beautiful,” and it was a “Great Honor” to host such a “very good, and tough, negotiator.” Appearing before reporters in the Oval Office ahead of their private meeting, Marcos spoke warmly of the ties between the two nations.

“This has evolved into as important a relationship as is possible to have,” said Marcos, the first Southeast Asian leader to hold talks with Trump in his second term.

Trump, as he does in many of his appearances, veered off topic as he fielded questions from reporters.

In response to a question about his Justice Department's decision to interview Jeffrey Epstein's former girlfriend, Trump repeated falsehoods about his loss to Democrat Joe Biden in the 2020 presidential election and the Russia investigation during his first term, along with comments about targeting adversaries such as former President Barack Obama and former Secretary of State Hillary Clinton.

“After what they did to me, whether it's right or wrong, it's time to go after people,” Trump said.

Relations with China are top of mind When asked how he plans to balance his country's relationships between the U.S. and China, Marcos said there was no need to balance “because our foreign policy is an independent one.” “Our strongest partner has always been the United States,” said Marcos, whose country is one of the oldest U.S. treaty allies in the Pacific region.

On Tuesday, when asked about the U.S. defense commitment to the Philippines, Chinese Foreign Ministry spokesperson Guo Jiakun said, “Whatever cooperation the U.S. and the Philippines have, it should not target or harm any third party, still less incite confrontation and heighten tensions in the region.” China, the Philippines, Vietnam, Malaysia, Brunei and Taiwan have been involved in long-unresolved territorial conflicts in the South China Sea, a busy shipping passage for global trade.

The Chinese coast guard has repeatedly used water cannons to hit Filipino boats in the South China Sea. China accused those vessels of entering the waters illegally or encroaching on its territory.

Marcos also met Secretary of State Marco Rubio and Defense Secretary Pete Hegseth this week. At the Pentagon on Monday, Marcos told Hegseth that the assurance to come to each other's mutual defense “continues to be the cornerstone of that relationship.” He said the cooperation has deepened since Hegseth's March visit to Manila, including joint exercises and U.S. support in modernizing the Philippines' armed forces. Marcos thanked the U.S. for support “that we need in the face of the threats that we, our country, is facing.” Hegseth told a security forum in Singapore in May that China poses a threat and the U.S. is “reorienting toward deterring aggression by Communist China.” The U.S., however, has endeavored to keep communication open with Beijing. Rubio and Chinese Foreign Minister Wang Yi met this month on the sidelines of the Association of Southeast Asian Nations regional forum in Kuala Lumpur, Malaysia. They agreed to explore “areas of potential cooperation” and stressed the importance of managing differences.

When hosting Marcos, Trump said a visit to China is “not too distant,” suggesting it is possible he could travel there soon. Trump touted U.S.-China relations but said Manila is independent in its dealings with Beijing.

“Do whatever you need to do,” Trump told Marcos. “But your dealing with China wouldn't bother me at all.” (AP) AS AS

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