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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.
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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.
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
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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.
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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.

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Trump moves to lift visa restrictions for Argentina in boost to right-wing ally

July 28, 2025

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Buenos Aires, Jul 28 (AP) The United States and Argentina on Monday announced that they are working on a plan to allow Argentine tourists to again travel to the US without a visa.

It will likely take two to three years before visa-free travel becomes a reality for Argentine passport holders, but the signing of a preliminary agreement Monday marked a show of support by the Trump administration for President Javier Milei, its staunchest ally in South America and a darling of conservatives around the world.

The move coincided with a visit by Homeland Security Secretary Kristi Noem to Buenos Aires for closed-door meetings with President Milei and his officials. Noem signed the statement of intent alongside Security Minister Patricia Bullrich in Milei's office.

The Department of Homeland Security praised Milei in a statement for reshaping Argentina's foreign policy in line with the US.

“Under President Javier Milei's leadership, Argentina is becoming an even stronger friend to the United States — more committed than ever to border security for both of our nations,” the statement quoted Noem as saying, adding that this first step toward Argentina's entry into the Visa Wavier Program “highlights our strong partnership with Argentina and our mutual desire to promote lawful travel while deterring threats." The department cited Argentina as having the lowest visa overstay rate in the US of any Latin American country.

Trump's loyal ally in South America The removal of rigorous US visa restrictions — particularly at a time when President Donald Trump is tightening restrictions for foreign nationals — would mark a symbolic victory for Milei, a self-described “anarcho-capitalist” who rose to power as a far-right outsider mimicking Trump's war-on-woke rhetoric and skillful use of social media.

When he became the first world leader to visit Trump after the US election, Milei pranced around Mar-a-Lago like an excited school boy.

At the Conservative Political Action Committee convention in Washington last February, he gifted billionaire Elon Musk a bureaucracy-slashing chainsaw to support his DOGE campaign to eliminate government waste.

When not riding the far-right, pro-Trump speaking circuit, Milei is focused on straightening out South America's second-largest economy after years of economic turmoil under left-wing populist rule. Through tough budget cuts and mass layoffs, Milei has succeeded in driving down Argentina's notorious double-digit inflation.

The last time Argentines didn't require a visa to enter the US was in the 1990s when another free-market devotee, President Carlos Menem, was in power. Menem's neo-liberal reforms and pegging of the peso 1-to-1 to the US dollar destroyed Argentina's industry, exacerbating poverty in what a century ago was one of the world's wealthiest countries.

In the economic crisis that followed, the US reimposed visa restrictions in 2002 as young Argentines looking to flee misery lined up at European embassies and stated to migrate illegally to the US.

The Argentine presidency described the signing on Monday as a “clear demonstration of the excellent relationship” between Milei and Trump.

“This bilateral link is not limited to the commercial or economic sphere, but constitutes a strategic and comprehensive relationship based on a shared vision,” it added.

Tough limits on travel to Trump's America Over 40 mostly European and wealthy Asian countries belong to the exclusive club that allows their citizens to travel to the US without a visa for up to three months. However, border officers have the power to turn anyone away.

About 20 million tourists use the program each year. Currently, Chile is the only Latin American country in the program.

Overseas travel to the US plunged in the early days of Trump's return to the White House as tourists, especially from Latin America, feared being caught in the administration's border crackdown. Some canceled travel plans to protest his foreign policy and anti-immigrant rhetoric.

But those numbers started to rebound in April, with more than 3 million international arrivals — 8 per cent more than a year ago — from countries other than Mexico or Canada, according to the International Trade Administration, an agency under the US Department of Commerce.

In addition to clamping down on the border, Trump has put up additional obstacles for students, tourists and others looking to travel to the U.S.

His recently passed “big, beautiful” bill of domestic priorities calls for the enactment of a new “visa integrity fee” of USD250 to be charged in addition to the cost of the visa itself.

Travel industry executives have expressed concern that it could drive away tourists who contribute more than USD2 trillion annually and 9 million jobs to the US economy, according to the International Trade Administration.

About a quarter of all travellers to the US come from Latin America and the Caribbean, the agency says.

Arrivals from Argentina have jumped 25 per cent this year — a bigger increase than from any other country. (AP) RD RD

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