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September 16, 2026
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Foreign exchange pressure drives rupee depreciation as a stronger dollar, capital outflows, and elevated crude prices weigh on markets.
Rupee depreciation continued for a seventh consecutive session, with the currency closing weaker against the US dollar amid overseas dollar strength and foreign fund outflows. Elevated crude oil prices and rising US Treasury yields increased pressure by raising importers' demand for dollars, while positive domestic equity markets limited the decline. Dollar strength reflected expectations of a US interest-rate increase, while domestic equity gains contrasted with net foreign institutional investor equity sales.
September 16, 2026
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Perpetual lease termination and public-premises eviction challenge turns on privity, statutory jurisdiction bar, and interim protection.
Challenges concern termination of Delhi Gymkhana Club's perpetual lease and a show-cause notice seeking eviction. The Government maintains that a member who is not party or privy to the bilateral lease has no personal estate in the land or right to restrain contractual resumption. It also contends that the Public Premises (Eviction of Unauthorised Occupants) Act bars civil-court eviction proceedings and injunctions against estate-officer action. The challengers seek a stay or status quo, arguing that the notice prematurely assumes valid lease termination.
September 16, 2026
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Lawful vehicle repossession requires contractual notice, due process, and safeguards against force, stealth, harassment, and arbitrary recovery methods.
Vehicle repossession by banks and non-banking financial companies must be lawful and fair despite contractual self-help repossession rights. Lenders and recovery agents must not use force, stealth, intimidation, harassment, or arbitrary methods. Legally valid repossession clauses must provide notice periods, lawful possession procedures, a final repayment opportunity, and sale or auction processes. Financial institutions must ensure recovery-agent compliance and prevent unlawful dispossession of borrowers from hypothecated vehicles.
September 16, 2026
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Credit rating transparency strengthens public enterprise access to debt markets through disclosure, risk assessment, and capital structure optimisation.
Objective and independent credit ratings measure CPSE financial strength, risk, credibility, and public-sector creditworthiness, supporting benchmarking and cost-effective access to global and domestic debt markets. Engagement between CPSE leadership and rating agencies focuses on rating methodologies, risk pricing, debt-market dynamics, transparent disclosures, and capital-structure optimisation. Such engagement is directed toward improving credit assessment, investor information, regulatory compliance, funding access at competitive rates, and market-facing disclosure practices.
September 16, 2026
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Raw-material security and import-duty reform are urged to strengthen ferro-alloy competitiveness amid expanding steel demand.
Ferro-alloy competitiveness depends on raw-material security, commercially viable domestic mineral access and lower input costs as steel demand expands. Faster exploration and development of manganese, chrome and other critical minerals, supported by mine-auction frameworks that encourage operational production, can reduce import dependence. Measures sought include zero import duties on unavailable-grade raw materials for noble alloys, competitive electricity costs and rationalised electricity levies. Cleaner energy, efficient furnaces, automation and improved raw-material utilisation are also necessary to reduce costs and emissions.
September 16, 2026
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Free trade agreement tariff liberalisation expands market access through phased concessions, services mobility pathways, safeguards, and investment commitments.
The free trade agreement grants duty-free access across all New Zealand tariff lines for Indian exports and provides Indian tariff liberalisation for a substantial share of New Zealand goods, while preserving exclusions for sensitive dairy, agricultural, industrial and other specified products. It provides duty-free entry, phased levy reductions, and quota-based concessions with minimum import price and other safeguards for identified goods. New Zealand also commits market access for Indian service suppliers and establishes skilled-employment, student-mobility and post-study work visa pathways.
September 16, 2026
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Expedited criminal trials involving real-estate directors require consolidated case details and safeguards against homebuyer inconvenience.
Supreme Court sought case details from the Enforcement Directorate and Delhi Police to facilitate expeditious criminal prosecution of Unitech directors without causing inconvenience to homebuyers. Protection of purchasers and completion of stalled housing projects remain central concerns. Project revival measures include RERA registration exemption for specified projects to enable stalled homebuyer loan disbursals, scrutiny of loan accounts classified as non-performing, and authority for the Centre-appointed board to raise outstanding funds, sell inventory, and monetise unencumbered assets for completion of housing units.
September 16, 2026
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RCMC exemption for eligible small-value exports reduces upfront registration requirements while preserving compliance for larger consignments.
RCMC or Certificate of Registration is not required, wherever otherwise mandated under the Foreign Trade Policy, 2023, for export consignments with a Free-on-Board value of up to Rs. 3 lakh. Export consignments exceeding that threshold continue to require a valid RCMC or Certificate of Registration wherever applicable. The exemption reduces the initial registration burden for MSMEs, artisans, small businesses, first-time exporters and occasional exporters undertaking eligible small-value exports, including through Postal, Courier, e-commerce and other emerging channels.
September 16, 2026
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Methamphetamine trafficking enforcement enabled coordinated vehicle interceptions, contraband seizures, and arrests under narcotic drug control law.
Intelligence-led narcotics enforcement led to the interception of four trucks in Assam and Tripura suspected of carrying methamphetamine tablets concealed in vehicle cabins. A total of 231.8 kg of suspected methamphetamine tablets, along with all four vehicles, was seized under the NDPS Act, and three persons were arrested. The action involved coordinated surveillance, interception and searches directed at an alleged drug-smuggling syndicate.
September 16, 2026
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Authorised Economic Operator programme advances trusted trade through risk-based customs facilitation, streamlined EMI documentation, and stakeholder-led reforms.
India's Authorised Economic Operator Programme promotes voluntary compliance, supply-chain security, risk-based customs administration and predictable cross-border movement of goods. Compliant trade and logistics entities may receive simplified customs procedures and risk-based facilitation. Proposed process reforms include uniform operating procedures, applicant checklists, single-deficiency processing, time-bound applications, clearer financial-solvency requirements, and strengthened client relationship and validation arrangements. Documentation under the Eligible Manufacturer Importer Scheme has been reduced, supporting lower compliance burdens and a pathway towards higher AEO tiers.
September 16, 2026
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Fraudulent procurement of a second passport allegedly involved false identity records, a false loss report, and overseas travel.
Alleged fraudulent procurement of a second passport arose after a passport had been surrendered in money-laundering-related proceedings. Authorities allege that the individual falsely reported the passport as lost and obtained another passport through false information, including an incorrect address in identity documentation and supporting records. The second passport was allegedly used for international travel. Criminal proceedings concern alleged forged documents, false representations and passport-related offences under the Bharatiya Nyaya Sanhita and the Passports Act.
September 16, 2026
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Rupee depreciation reflected dollar strength, foreign outflows, elevated oil prices, and importer demand despite stronger domestic equities.
Foreign-exchange market conditions resulted in the rupee weakening for a seventh consecutive session and closing lower against the US dollar. Dollar strength, foreign fund outflows, elevated crude oil prices, higher US Treasury yields and increased importer demand for dollars exerted pressure on the currency. Positive domestic equity-market performance limited the downside, while expectations of a US Federal Reserve interest-rate increase supported the dollar index.
September 16, 2026
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Multi-currency prepaid travel cards enable foreign-exchange spending, exchange-rate locking, and mobile-based controls for Indian international travellers.
Wizzmoni Financial Services Ltd. and City Union Bank Ltd. have partnered to launch Wizz Voyager, a co-branded AI-powered multi-currency prepaid travel card for Indian residents undertaking international travel. The card supports 37 international currencies and provides real-time exchange-rate locking, spending controls, transaction tracking and mobile-app-based management. It is designed to facilitate foreign-exchange spending and management of multiple currencies through a single payment instrument.
September 16, 2026
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Non-executive nominee directorship strengthens lending governance, compliance, risk management and technology-led capability as the business scales responsibly.
Finnable has appointed Sreeram Ranganathan Iyer as a Non-Executive Nominee Director representing investor TVS Capital. The role is intended to strengthen board oversight as the non-banking financial company expands its lending operations. The identified priorities for sustainable growth include technology, compliance, governance, risk management, responsible lending, and data-driven underwriting. The nominee directorship reflects investor participation in governance and capability-building for a sustainable lending franchise.
September 16, 2026
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Money laundering investigation addresses alleged land grabbing through forged property records, fabricated claims, coercion, and denial of landowners' rights.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged land grabbing through forged board resolutions, forged-sale agreements, fabricated deeds, and falsified property records. The alleged conduct includes manipulation of land records, civil proceedings based on false claims, denial of landowners' lawful entitlements, and threats or physical force against persons asserting legitimate rights. The investigation is linked to multiple police FIRs concerning the individual and associated entities.
September 16, 2026
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Trade performance estimates show merchandise and services exports increasing while imports rise, widening the cumulative trade deficit.
External trade estimates for April-August 2026-27 show combined merchandise and services exports of US$399.27 billion and imports of US$459.65 billion, with a trade deficit of US$60.38 billion. Merchandise exports reached US$215.91 billion, while services exports were estimated at US$183.36 billion. Non-petroleum exports increased to US$180.61 billion. Growth in August merchandise exports was driven by electronic goods, petroleum products, engineering goods, chemicals, and cotton yarn, fabrics, made-ups and handloom products. Services-sector figures for August were estimated using data available through July.
September 16, 2026
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Rupee depreciation amid dollar strength and foreign fund outflows highlights pressure from global monetary expectations and elevated oil prices.
Rupee depreciation against the US dollar in early trading reflected pressure from a stronger dollar and net foreign fund outflows, notwithstanding support from positive domestic equity-market performance. Dollar strength was associated with market expectations of a US Federal Reserve interest-rate increase to address inflation linked to higher oil prices. Elevated crude oil prices and risks to oil exports remained concerns, while domestic equity gains provided countervailing support.
September 16, 2026
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Fraudulent input tax credit through bogus invoices prompted arrest following allegations of invoicing without actual supply of goods.
The investigation concerned alleged fraudulent availment and passing on of inadmissible input tax credit through bogus invoices. Multiple suppliers were identified as non-existent, non-functional, suspended or cancelled, while field verification indicated an absence of genuine business activity at certain declared premises. Input tax credit was allegedly availed without receipt of goods and passed on through invoices without corresponding supplies. Statements recorded during investigation led to the arrest of a firm partner under the CGST Act.
September 16, 2026
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UPI merchant discount rate framework preserves free individual and small-merchant payments while charging specified larger merchant transactions.
UPI person-to-person transactions remain free irrespective of value, and person-to-merchant payments up to Rs.2,000 remain outside the merchant discount rate framework. Small merchants receiving qualifying UPI QR payments under the P2PM category continue to receive zero MDR treatment. MDR applies only to specified merchant payments above the threshold, with separate treatment for essential sectors and capital-market payments. Customers are not liable for MDR, merchants must not pass it on, and UPI application providers may not levy platform fees or hidden charges. MDR revenue supports payment ecosystem participants and small-merchant UPI adoption.
September 15, 2026
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Merchant discount rate on large-value UPI merchant payments supports infrastructure investment while preserving free user payments.
Merchant Discount Rate (MDR) of 0.4 per cent applies to large-value UPI person-to-merchant payments exceeding Rs 2,000 from October 15. MDR is a merchant payment ecosystem charge, not a fee payable by customers. Person-to-person UPI payments remain free for users, while person-to-merchant UPI payments below Rs 2,000 remain free for merchants. MDR distribution is intended to support payment technology, infrastructure, acceptance networks and sustained UPI growth.

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20 years after its landmark withdrawal from Gaza, Israel is mired there

August 15, 2025

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Tel Aviv, Aug 15 (AP) Twenty years ago, Israel withdrew from the Gaza Strip, dismantling 21 Jewish settlements and pulling out its forces. The Friday anniversary of the start of the landmark disengagement comes as Israel is mired in a nearly two-year war with Hamas that has devastated the Palestinian territory and means it is likely to keep troops there long into the future.

Israel's disengagement, which also included removing four settlements in the Israeli-occupied West Bank, was then-Prime Minister Ariel Sharon's controversial attempt to jump-start negotiations with the Palestinians. But it bitterly divided Israeli society and led to the empowerment of Hamas, with implications that continue to reverberate today.

The emotional images of Jews being ripped from their homes by Israeli soldiers galvanised Israel's far-right and settler movements. The anger helped them organise and increase their political influence, accounting in part for the rise of hard-line politicians like National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich.

On Thursday, Smotrich boasted of a settlement expansion plan east of Jerusalem that will “bury” the idea of a future Palestinian state.

For Palestinians, even if they welcomed the disengagement, it didn't end Israel's control over their lives.

Soon after, Hamas won elections in 2006, then drove out the Palestinian Authority in a violent takeover. Israel and Egypt imposed a closure on the territory, controlling entry and exit of goods and people.

Though its intensity varied over the years, the closure helped impoverish the population and entrenched a painful separation from Palestinians in the West Bank.

Israel captured the West Bank, east Jerusalem and the Gaza Strip in the 1967 Mideast war. The Palestinians claim all three territories for a future independent state.

A unilateral withdrawal enhanced Hamas' stature Israel couldn't justify the military or economic cost of maintaining the heavily fortified settlements in Gaza, explained Kobi Michael, a senior researcher at the Misgav Institute and the Institute for National Security Studies think tanks. There were around 8,000 Israeli settlers and 1.5 million Palestinians in Gaza in 2005.

“There was no chance for these settlements to exist or flourish or become meaningful enough to be a strategic anchor,” he said. By contrast, there are more than 500,000 Israeli settlers in the West Bank, most living in developed settlement blocs that have generally received more support from Israeli society, Michael said. Most of the world considers the settlements illegal under international law.

Because Israel withdrew unilaterally, without any coordination with the Palestinian Authority, it enhanced Hamas' stature among Palestinians in Gaza.

“This contributed to Hamas' win in the elections in 2006, because they leveraged it and introduced it as a very significant achievement,” Michael said. “They saw it as an achievement of the resistance and a justification for the continuation of the armed resistance.” Footage of the violence between Israeli settlers and Israeli soldiers also created an “open wound” in Israeli society, Michael said.

“I don't think any government will be able to do something like that in the future,” he said. That limits any flexibility over settlements in the West Bank if negotiations over a two-state solution with the Palestinians ever resume.

“Disengagement will never happen again, this is a price we're paying as a society, and a price we're paying politically,” he said.

One of the first settlers longs to return Anita Tucker, now 79, was part of the first nine Jewish families that moved to the Gaza Strip in 1976. She and her husband and their three kids lived in an Israeli army outpost near what is today Deir al-Balah, while the settlement of Netzer Hazoni was constructed.

Originally from Brooklyn, she started a farm growing vegetables in the harsh, tall sand dunes. At first relations were good with their Palestinian neighbours, she said, and they worked hard to build their home and a “beautiful community”. She had two more children, and three chose to stay and raise their families in Netzer Hazoni.

She can still recall the moment, 20 years ago, when 1,000 Israeli soldiers arrived at the gate to the settlement to remove the approximately 400 residents. Some of her neighbours lit their houses on fire in protest.

“Obviously it was a mistake to leave. The lives of the Arabs became much worse, and the lives of the Jews became much, much worse, with rockets and Oct 7,” she said, referring to the decades of rockets fired from Gaza into Israel and the date in 2023 of the Hamas attack that launched the ongoing war.

Despite the passage of time, her family still is “yearning and longing for their home,” she said. Several of her 10 grandchildren, including some who spent their early childhood in the Gaza settlements, have served in the current war and were near her old house.

“It's hard to believe, because of all the terrible things that happened that we predicted, but we're willing to build there again,” said Tucker.

Palestinians doubt Israel will ever fully withdraw from Gaza again After Israel's withdrawal 20 years ago, many Palestinians described Gaza as an “open-air prison”. They had control on the inside – under a Hamas government that some supported but some saw as heavy-handed and brutal. But ultimately, Israel had a grip around the territory.

Many Palestinians believe Sharon carried out the withdrawal so Israel could focus on cementing its control in the West Bank through settlement building.

Now some believe more direct Israeli occupation is returning to Gaza. After 22 months of war, Israeli troops control more than 75% of Gaza, and Prime Minister Benjamin Netanyahu speaks of maintaining security control long term after the war.

Amjad Shawa, the director of the Palestinian NGO Network, said he doesn't believe Netanyahu will repeat Sharon's full withdrawal. Instead, he expects the military to continue controlling large swaths of Gaza through “buffer zones”.

The aim, he said, is to keep Gaza “unlivable in order to change the demographics,” referring to Netanyahu's plans to encourage Palestinians to leave the territory.

Israel is “is reoccupying the Gaza Strip” to prevent a Palestinian state, said Mostafa Ibrahim, an author based in Gaza City whose home was destroyed in the current war.

Missed opportunities Israeli former Maj Gen Dan Harel, who was head of the country's Southern Command during the disengagement, remembers the toll of protecting a few thousand settlers.

There were an average of 10 attacks per day against Israeli settlers and soldiers, including rockets, roadside bombs big enough to destroy a tank, tunnels to attack Israeli soldiers and military positions, and frequent gunfire.

“Bringing a school bus of kids from one place to another required a military escort,” said Harel. “There wasn't a future. People paint it as how wonderful it was there, but it wasn't wonderful.” Harel says the decision to evacuate Israeli settlements from the Gaza Strip was the right one, but that Israel missed crucial opportunities.

Most egregious, he said, was a unilateral withdrawal without obtaining any concessions from the Palestinians in Gaza or the Palestinian Authority.

He also sharply criticised Israel's policy of containment toward Hamas after disengagement. There were short but destructive conflicts over the years between the two sides, but otherwise the policy gave Hamas “an opportunity to do whatever they wanted”.

“We had such a blind spot with Hamas, we didn't see them morph from a terror organisation into an organised military, with battalions and commanders and infrastructure,” he said.

The Oct 7 attack, Israel's largest military intelligence failure to date, was not a result of the disengagement, said Harel. “The main issue is what we did in the 18 years in between.” (AP) SCY SCY

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