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    CGPSC scam: ED alleges Rs 45 lakh 'CSR' payment to ex-CGPSC chief for favouring businessman's kin
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    S&P, Fitch raise FY'27 India GDP growth projections; see 25 bps RBI rate hike on inflation fears
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September 23, 2026
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Money laundering allegations in public recruitment describe CSR-linked payments, examination manipulation, and candidate payments treated as proceeds of crime.
Money-laundering allegations concerning state public-service examinations identify two alleged streams of proceeds of crime: corporate social responsibility funding allegedly routed to an institution controlled by the former commission chairman in return for favouring selected candidates, and money allegedly collected from candidates and families for advance access to examination papers and secured selection. The alleged CSR payment was projected as legitimate institutional funding, while candidate-related collections were allegedly possessed, used, transferred, or projected as legitimate transactions.
September 23, 2026
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Banking service continuity measures require public sector and regional rural banks to operate on Sunday during the proposed strike.
Banking-service contingency arrangements require Public Sector Banks and Regional Rural Banks to operate normally on Sunday, 27 September 2026, ahead of a proposed three-day bank strike. Reserve Bank approval permits bank branches, offices, ATM-linked branches and currency chests to remain fully operational. Customers are advised to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike occurs, and to complete essential transactions in advance.
September 23, 2026
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Inflation-driven monetary tightening may accompany strong growth as demand, price increases and adverse supply conditions shape rate expectations.
Inflationary pressures, robust demand, price rises and adverse supply developments are expected to lead to policy-rate tightening by RBI. Fitch anticipates a 25-basis-point rate rise in October, further tightening in early 2027, followed by easing in 2028. Growth projections were upgraded following stronger-than-expected June-quarter activity, but activity is expected to moderate as the effects of GST rationalisation and income-tax cuts recede, manufacturing and services slow, and below-normal monsoon conditions affect activity.
September 23, 2026
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GDP growth forecast rises as domestic demand, investment, and public capital spending sustain economic resilience amid external risks.
India's GDP growth forecast for the current fiscal year is raised to 7 per cent, supported by investment demand, resilient consumption, manufacturing and services activity, lower-than-expected supply disruptions, and sustained capital inflows. Domestic demand, infrastructure expenditure, regulatory reforms, and improving private investment are expected to support growth. Inflation is projected to remain within the central bank's target range, subject to risks from geopolitical uncertainty, commodity prices, and weather-related disruption. Fiscal management is supported by public capital expenditure and robust direct-tax revenue.
September 23, 2026
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Primary and secondary investment funds ammunition manufacturing expansion, increasing small-caliber capacity and establishing medium-caliber production.
Hughes Precision Manufacturing Pvt. Ltd. completed a Rs. 250+ crore investment round through primary and secondary investments. The capital will expand small-caliber ammunition capacity from approximately 80 million to 220 million rounds and establish a dedicated medium-caliber ammunition manufacturing facility. The expansion broadens its product portfolio and is supported by an order book exceeding Rs. 1,000 crore, including domestic defence and export orders scheduled for execution over approximately two years.
September 23, 2026
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GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
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FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
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Export facilitation reforms integrate local support, digital trade intelligence, and streamlined Free Trade Agreement procedures to improve market access.
Export facilitation reforms contemplate integrated Commerce and Industry offices and trained local personnel to provide exporters with common access points and district-level handholding support. The Trade Connect platform is envisaged to provide product-wise and HSN-code-wise tariff, Free Trade Agreement and procedural information, supported by digital and AI-enabled tools. Reforms also address electronic verification of Certificates of Origin, integration across the export cycle, digitalisation, simplified trade documentation, reduced compliance burden, and adherence to international quality standards.
September 23, 2026
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Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 23, 2026
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Trade partnership frameworks seek diversified market access through proposed economic agreements, investment cooperation, stronger business linkages, and improved connectivity.
Trade and market-access cooperation is to be advanced through a proposed Comprehensive Economic Partnership Agreement with Chile, a proposed Free Trade Agreement with Peru, and expansion of the Preferential Trade Agreement with MERCOSUR. The frameworks seek mutually beneficial outcomes while respecting respective sensitivities and priorities. Diversified trade, investment and business partnerships are envisaged through stronger business-to-business linkages, improved connectivity and more predictable market access.
September 23, 2026
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Diplomatic engagement amid armed conflict continues as parties discuss reopening strategic waterways, energy security, and a potential negotiated settlement.
Diplomatic engagement between the United States and Iran resumed amid an ongoing armed conflict. The engagement concerned reopening the Strait of Hormuz and returning to negotiations toward a settlement, while the United States position combined willingness to engage with threats of escalated military action if an agreement was not reached. Regional consultations also addressed risks to oil carriage, energy supplies, and navigation through strategic waterways.
September 23, 2026
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Bilateral comprehensive trade agreement negotiations aim for conclusion at the G20, supporting diversification and renewed economic ties.
Comprehensive trade agreement negotiations between Canada and India are progressing, with both governments aiming to conclude discussions by the mid-December G20 summit. Formal negotiations commenced in March, accompanied by a broader commitment to complete the agreement by the end of 2026. The proposed arrangement forms part of renewed bilateral economic engagement and Canada's strategy to diversify trade relationships, strengthen market access and reduce dependence on a single market.
September 23, 2026
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Diesel export restrictions may worsen refinery constraints and consumer fuel costs amid global refining capacity disruptions.
Possible restrictions on diesel exports are being considered to address rising domestic diesel prices amid disruption to global refining capacity. Oil industry representatives oppose an export ban, contending that it could aggravate refinery-sector constraints and worsen supply conditions. They advocate increased supply and operational flexibility instead of new export restrictions, while farm-state senators support a diesel export ban.
September 22, 2026
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District-led economic development will align local resources, enterprise support and export promotion to strengthen regional economic opportunities.
The Uttar Pradesh Enabling District-Led Economic Growth project is proposed to convert district-specific resources into investment, employment, entrepreneurship and export opportunities. Its framework combines economic activity with stronger local administration and major investment proposals suited to local needs. Economic diversification is to expand manufacturing and services alongside agriculture, while local products are to receive improved design, packaging and access to global markets. Proposed measures also include enterprise development, women entrepreneurship, skills training, healthcare, agricultural processing and polyhouse development.
September 22, 2026
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Healthcare access integration enables local outpatient ticketing and appointment booking through banking correspondents, alongside employee banking and patient-support initiatives.
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
September 22, 2026
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Money-laundering searches prompt allegations of pressure on an urban development body and disruption of welfare delivery programmes.
Survey and search operations under the Prevention of Money Laundering Act covered 26 premises, including the Greater Mohali Area Development Authority office and the Principal Secretary for Housing and Urban Development. AAP alleged that the action was intended to create fear and pressure among government officers and impede welfare and development initiatives. It described GMADA as a revenue-generating authority whose resources support public welfare, urban infrastructure and planned development.
September 22, 2026
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Public recruitment money laundering allegations include payments, examination-paper access, and recruitment-rule changes allegedly facilitating selected candidates.
Money-laundering proceedings concerning alleged irregularities in public-service recruitment examinations include a prosecution complaint against the former CGPSC chairman and others. Allegations concern payments to facilitate selections, access to examination papers for candidates, and collection of consideration. A former examination official is alleged to have aided a recruitment-rule amendment removing "nephew" from the definition of family, allegedly facilitating selection of relatives. The investigation is linked to an economic-offences FIR, a CBI complaint and related chargesheets.
September 22, 2026
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Five-day banking demand drives a proposed nationwide bank strike after conciliation remains inconclusive during half-yearly closing.
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
September 22, 2026
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PMLA maintainability turns on whether a private complaint can initiate money-laundering proceedings without a predicate-offence FIR.
Maintainability of PMLA proceedings is contested where the alleged scheduled offence originates in a private complaint rather than an FIR. Respondents contend that a private complaint cannot form the basis for an Enforcement Case Information Report, money-laundering investigation, or prosecution, because the statutory framework recognises predicate-offence action through an FIR or a complaint by a person authorised to investigate.
September 22, 2026
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Related-party transaction disclosure and audit-report compliance proceedings conclude through settlement without admissions by five companies.
Securities-market settlement proceedings concerning five Adani group companies addressed alleged non-compliance with listing-related disclosure and audit-report requirements. Allegations included failure to disclose certain related-party transactions and audit or limited-review reports signed by firms lacking a valid peer review certificate. While adjudication remained pending, the companies proposed settlement without admitting or denying the findings of fact or conclusions of law.

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Buddy4Study Set to Facilitate 1,00,000 Students with INR 400 Crore in Scholarships for 2025-26

August 20, 2025

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With a comprehensive range of funding solutions, including scholarships, education loans, loan subsidies, and university admissions, Buddy4Study is reshaping educational funding access across India. New Delhi, Delhi, India – Business Wire India For Archana K., a Class 9 student from Kadapa, Andhra Pradesh, the ambition to become a doctor burns brightly despite her family’s financial constraints. Her father, a small internet café owner, pours his limited resources into her education. When finances tightened, the OMRON Healthcare Scholarship, an initiative of OMRON Healthcare India facilitated by Buddy4Study, provided the support needed to keep her dream alive. As India’s pioneering technology-enabled scholarship management platform, Buddy4Study is set to replicate this impact on a significant scale with INR 400 crore in scholarships for 1,00,000 students in the 2025-26 financial year. With its holistic portfolio of education funding solutions—scholarships, education loans, special loan subsidies, and university admissions—Buddy4Study is redefining access to education across India. In FY 24-25, the platform enabled the disbursement of scholarships worth INR 230 crore to over 60,000 students. Since its inception in 2011, Buddy4Study has empowered over 1.37 lakh unique scholars, 56% of whom are girls, through INR 630 crore in scholarships. With over 200 partners and donors, including global names like HDFC Bank, L’Oréal India, Colgate-Palmolive (India), GlaxoSmithKline Pharmaceuticals, Kotak Education Foundation, Bharti Airtel Foundation, and Infosys Foundation, Buddy4Study has become a beacon of trust, making the scholarship funds easily accessible to deserving students. So far, more than 73,500 college students have been supported with scholarships, while over 59,000 school students received scholarships, with an average scholarship amount of INR 30,409. Buddy4Study’s scholarship portfolio is as rich as the diversity of India. For example, the platform has women-focused scholarship programs like the Kotak Kanya Scholarship, Rolls-Royce Wings4Her Scholarship, and L'Oréal India For Young Women In Science Scholarships that empower female scholars. The platform also hosts numerous scholarships to support transgender and PWD students, including the TATA AIA Paras Scholarship Program and the Legrand Empowering Scholarship. Additionally, it offers region-specific scholarships, such as the Virchow Scholarship for students from Telangana and Andhra Pradesh and the Saksham Scholarship for Drivers’ Children for students from Andhra Pradesh, Tamil Nadu, Telangana, and Karnataka. Furthermore, discipline-focused scholarship programs in higher education, like the Bharti Airtel Scholarship and the Raman Kant Munjal Scholarships, support students pursuing specific disciplines. In collaboration with the Government of India’s Ministry of Social Justice and Empowerment, Buddy4Study is identifying deserving students for its Free Coaching for DNT Students under the SEED initiative. In FY 2024-25, about 500 students from De-notified, Nomadic, and Semi-Nomadic Tribes were provided financial assistance for free coaching in competitive exams like NEET and JEE. This year, the SEED initiative aims to support around 4,000 students from the NT/DNT/SNT communities. Technology is at the core of Buddy4Study’s mission. The platform’s AI-powered BuddyBot efficiently handles thousands of queries, while seamless integrations with DigiLocker and automated fund transfers guarantee smooth, fraud-free disbursals. The platform has also launched a college-specific financial support mechanism to help students as per their financial needs. Buddy4Study has also facilitated INR 2.90 crore in education loans in collaboration with leading banks like Punjab National Bank (PNB), ICICI Bank, Axis Bank, and NBFCs like Kuhoo Finance to bridge funding gaps for students pursuing higher education. “Education is not just a ladder; it is a light that illuminates futures,” says Ashutosh Burnwal, founder and CEO of Buddy4Study. “Our mission is to empower 10 lakh students by 2030, ensuring no one drops out due to financial constraints. With comprehensive educational funding options, we are taking bold strides toward this mission, transforming lives one scholar at a time.” Buddy4Study’s impact aligns with global goals like SDG 4 (Quality Education), addressing India’s challenge where only 2-3% of deserving students have access to scholarships. About Buddy4Study Buddy4Study, India’s leading AI and tech-enabled educational funding platform, is dedicated to simplifying access to education financing for deserving students across the country. In the financial year 2024–25, Buddy4Study facilitated scholarships worth INR 230 Crore to over 61,000 scholars through 80+ strategic partnerships. With a cumulative disbursement exceeding INR 630 Crore, the platform has supported 1.37 Lakh unique scholars since its inception. Buddy4Study’s extensive partner ecosystem includes prominent scholarship providers such as HDFC Bank, L’Oréal India, Colgate-Palmolive (India), GlaxoSmithKline Pharmaceuticals, Kotak Education Foundation, Bharti Airtel Foundation, and Infosys Foundation. Additionally, the platform works closely with leading banking institutions like PNB, ICICI Bank, and Axis Bank, as well as Non-Banking Financial Companies (NBFCs) like Kuhoo Finance. Furthermore, Buddy4Study’s commitment to security and trust is reinforced by its ISO 27001 certification, ensuring the highest standards of data protection and transparency for its users. To View the Image, Click on the Link Below: Buddy4Study recently celebrated its Annual Scholars' Day, attended by partners and over 250 scholars from across India. (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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