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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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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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PM Narendra Modi Inaugurates SEMICON® India 2025

September 3, 2025

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The World trusts India, the World believes in India and the World is ready to build the Semiconductor Future with India: PM Bharat opens doors to 20,000+ participants, Delegates from 48 Countries, 50+ CXOs, 1275 Booths at country's biggest Semiconductors & Electronics Show in New Delhi from 2-4 September 2025 NEW DELHI, Sept. 2, 2025 /PRNewswire/ -- In a defining moment for India's next chapter of semiconductor growth, Prime Minister, Shri. Narendra Modi inaugurated SEMICON India 2025 at Yashobhoomi (India International Convention and Expo Centre), New Delhi today. Having returned from his visits to Japan and China, PM Modi asserted "the day is not far when the world will say – Designed in India, Made in India, Trusted by the World". Drawing an analogy, PM Modi remarked that in the world of semiconductors, it is often said that "Oil was Black Gold, but Chips are Digital Diamonds." The flagship show opened to an overwhelming and an unprecedented response with 20,000+ registrations, delegates from 48 countries, 50 Global CXOs and 1275 booths at the country's biggest semiconductors and electronics show. Noting the presence of semiconductor sector experts from across the globe, with representation from over 40 to 50 countries, PM Modi emphasized that "India's innovation and youth power are also visibly present at the event". He stated that this unique combination sends a clear message, "The World Trusts India, the World Believes in India and the World is ready to build the Semiconductor Future with India". Union Minister Ashwini Vaishnaw, Ministry of Electronics and Information Technology said, "This is a year, 2025, in which many dreams are coming true. Today, the Prime Minister was presented with the first made-in-India chip made by CG SEMI. Three more pilot lines are almost on the verge of completion in the next few months. Our design and talent building capabilities have come up very well. Today we presented the 20 chips designed by students and manufactured at our SCL Mohali facility. Today's flagship event witnessed the convergence of all critical stakeholders of the semiconductor ecosystem including Equipment manufacturers, chemical manufacturers, gas manufacturers, and material manufacturer and that that shows the scale at which we are growing and the confidence the world has on India's semiconductor journey." Ajit Manocha, President and CEO, SEMI said, "The Indian semiconductor industry is experiencing exponential growth, in line with "Modi's law" which envisions India replicating Moore's Law for industry expansion. With technology at an inflection point with critical advancements and innovations backed by AI, I believe we are at the cusp of unprecedented dynamics of the current geopolitical landscape. India is being recognized globally for its remarkable potential and growing leadership in the global semiconductor sector." Ashok Chandak, President SEMI India and IESA announced the signing of 12 MoUs at SEMICON India 2025 – Detailed list enclosed below. Ashok Chandak, President, SEMI India and IESA said, "Prime Minister Shri Narendra Modi's vision for India's semiconductor industry, as articulated at SEMICON India 2024, is becoming a reality. The government's commitment to fostering innovation and investment is evident in landmark initiatives such as the passive component manufacturing scheme and the Research Development and Innovation (RDI) Scheme. PM Modi's vision for India to become a global hub for semiconductor design, manufacturing, and technology development takes a step forward with SEMICON India 2025 today. This year's mega show exceeded expectations with a remarkable turnout from 48 countries, featuring nearly 1,275 booths, a staggering increase from 650 last year and an unprecedented interest with over 20000+ registrations. The phenomenal participation of over 20,000 stakeholders from around the world at the event is a testament to India's growing prominence in the semiconductor landscape". In addition to enriching sessions during the course of the day, the show also witnessed a commitment from the newly formed India Deep Tech Investment Alliance (IDTA) to spur increased private investment in priority deep tech sectors with US $1billion to accelerate entrepreneurship and ecosystem development within key technology sectors throughout the India - U.S. corridor. The IDTA comprises founding members Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts. The inaugural was graced by Shri. Ashwini Vaishnaw, Union Minister, MeitY, Shri. Jitin Prasada, Minister of State, MeitY, Smt. Rekha Gupta, Chief Minister, NCT of Delhi, Shri. Mohan Charan Majhi, Chief Minister of Odisha, Shri. S. Krishnan, Secretary, MeitY, along with several global leaders and CXOs from across the world. Shri. Ashwini Vaishnaw presented the Vikram 32-bit processor, the first Made- in-India semiconductor chip to PM Modi in the presence of over 4000 delegates. With a bold vision and theme Building the Next Semiconductor Powerhouse, SEMICON India 2025 has once again taken the centre stage as South Asia's single largest platform for showcasing the latest advancements in the semiconductor and electronics industries. The landmark event this year has convened over 20,000 participants from across the globe including industry leaders, innovators, policymakers, startups, researchers and academicians to discuss the latest trends, opportunities and complex challenges in the semiconductor sector and simultaneously accelerate global collaboration, support indigenous innovation, and solidify India's position in the semiconductor landscape. International roundtables, Keynote speeches, panel discussions and fireside chats by industry visionaries on critical topics such as Fabs, Advanced packaging, smart manufacturing, AI, supply chain management, sustainability followed the inauguration ceremony. In addition to distinguished government officials, this year's event will also feature an impressive lineup of industry leaders from top companies including Applied Materials, ASML, IBM, Infineon, KLA, Lam Research, MERCK, Micron, PSMC, Rapidus, Sandisk, Siemens, SK Hynix, TATA Electronics, Tokyo Electron, and many more. MOUs / Announcements at SEMICON India 2025 1. MoU between Tata Electronics and Merck to strengthen Semiconductor Capabilities in India in the area of manufacturing and packaging 2. MoU between Tata Electronics and Centre for Development of Advanced Computing (C-DAC_ to develop domestic semiconductor design and IP ecosystem 3. Announcement to kickoff joint development of India's first fully localized automative camera module, launched by Kaynes Semicon in collaboration with SPARSH-IQ. 3rdiTech, Focally and SenseSemi Technologies 4. Announcement to deliver India's first MEMs Microphone & Advanced Semiconductor Packages by Kaynes Semicon in collaboration with Infineon 5. Announcement to kickoff for joint development for Make-in-India Secure Chip, embedded with Smart Operating System , designed to power the next generation of digital identity solution – such as electronic passports – built on a scalable security architecture by L&T Semiconductor in collaboration with IIT Gandhinagar and C-DAC 6. MoU between L&T Semiconductor and IISc Bangalore to build a National Innovation Hub for semiconductor research and quantum leadership 7. Unveiling of India's 1st IoT Evolution Board integrating the indigenous VEGA processor by C-DAC with Bluetooth and LoRa connectivity by Indiesemic – A woman co-led domestic startup at Gujarat 8. MoU between NIELIT and Singapore Semiconductor Industry Association (SSIA) to promote semiconductor skilling, industry academia linkages, and capacity building in semiconductor technologies 9. MoU between ISM and New Age Makers Institute of Technology (NAMTECH) to establish a collaborating framework to build a future-ready talent pipeline for India's rapidly growing semiconductor ecosystem, while advancing applied research and innovation in line with ISM's national roadmap 10. MoU between the Arizona State University and India Semiconductor Mission (ISM) on scientific and educational collaboration 11. MoU among C-DAC, Synopsys, and IIT Madras Pravartak to provide flexible access of Synopsys IPs to approved companies under the DLI Scheme 12. Announcement on availability of design infrastructure support to approved companies under the DLI scheme which includes the following: IP core from a) ITC Korea b) Secure IC c) Cadence Design Systems d) Analogue Bits EDA tools from a) Sim Yog Technologies b) Cadre design systems Post Silicon Validation services from a) Emerson Global b) Smartsoc Solutions c) Cyient Semiconductor For more details, please visit www.semiconindia.org and connect with SEMI India on LinkedIn and X. Logo - https://mma.prnewswire.com/media/2762583/SEMI_IESA_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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