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    SIDBI organizes a conclave of the Heads of Regional Rural Banks (RRBs) on expanding SIDBI-RRB MSME Co-Lending arrangement
    SC sets aside show cause notice to Tata Steel over input tax credit availed during FY19-23
    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
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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

Worst drought in decades threatening Syria's fragile recovery from years of civil war

September 4, 2025

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Damascus, Sep 4 (AP) The worst drought in decades is gripping much of the Eastern Mediterranean and Middle East, drying out rivers and lakes, shrivelling crops and leading to days-long tap water cutoffs in major cities.

The situation is particularly dire in Syria, where experts say rainfall has been declining for decades and where the fledgling government is trying to stitch the country back together following a 14-year civil war that left millions impoverished and reliant on foreign aid.

Small-farmer Mansour Mahmoud al-Khatib said that during the war, he couldn't reach his fields in the Damascus suburb of Sayyida Zeinab some days because militants from the Lebanese Hezbollah militia allied with then-President Bashar Assad would block the roads. That problem vanished when Hezbollah withdrew after Assad fell in a December rebel offensive, but the drought has devastated his farm, drying up the wells that irrigate it.

“The land is missing the water,” al-Khatib told The Associated Press recently as he watched workers feed the wheat he did manage to harvest into a threshing machine. “This season is weak — you could call it half a season. Some years are better and some years are worse, but this year is harsh.” In a good year, his land could produce as much as 800 to 900 kilograms of wheat per dunam, an area equal to 0.1 hectares and 0.25 acres. This year, it yielded about a quarter that much, he said. He hired only six or seven workers this harvest season instead of last year's 15.

Syria's withering crops Because the drought followed a prolonged war, farmers who were already financially stretched have had little ability to cope with its effects, said Jalal Al Hamoud, national food security officer for the UN's Food and Agriculture Organisation in Syria.

Before the uprising-turned-civil war that began in 2011, Syrian farmers produced an average of 3.5 million to 4.5 million tons of wheat per year, which was enough to meet the country's domestic needs, according to Saeed Ibrahim, director of agricultural planning and economics in Syria's Agriculture Ministry.

That annual yield dropped to 2.2 million to 2.6 million tons during the war, and in recent years, the government has had to import 60 per cent to 70 per cent of its wheat to feed its roughly 23 million people. This year's harvest is expected to yield only 1 million tons, forcing the country to spend even more of its strained resources on imports.

Mudar Dayoub, a spokesperson for Syria's Ministry of Internal Trade and Consumer Protection, said this year's wheat crop will only last for two or three months and that the government is "currently relying on signing contracts to import wheat from abroad” and on donations, including from neighbouring Iraq.

But in a country where the World Food Program estimates that half the population is food-insecure, Ibrahim warned that “total reliance on imports and aid threatens food security” and is “unsustainable.” The drought isn't the only major issue facing Syria, where postwar reconstruction is projected to cost hundreds of billions of dollars. Since Assad fled, the country has been rattled by outbreaks of sectarian violence, and there's growing doubt about whether the new authorities will be able to hold it together. Without jobs or stability, millions of refugees who fled during the war are unlikely to come home.

Interconnected crises A dam on the Litani River in neighbouring Lebanon's fertile Bekaa Valley forms Lake Qaraoun, a reservoir that spans about 12 square kilometres.

Over the years, climate change has led to a gradual decline in the water flowing into the reservoir, said Sami Alawieh, head of the Litani River National Authority.

This summer, after an unusually dry winter left Lebanon without the water reserves it usually banks through snow and rainfall, it has shrunk to the size of a pond, surrounded by a vast expanse of parched land.

Although an average of 350 million cubic metres of water flows into the lake during the rainy season each year, meeting about one-third of Lebanon's annual demand, this year the incoming water didn't exceed 45 million cubic metres, he said.

Lebanon's water woes have further exacerbated the drought in Syria, which partially relies on rivers flowing in from its western neighbour.

The largest of those is the Orontes, also known as the Assi. In Syria's Idlib province, the river is an important source of irrigation water, and fishermen make their living from its banks. This year, dead fish littered the dried-out river bed.

“This is the first time it's happened that there was no water at all,” said Dureid Haj Salah, a farmer in Idlib's Jisour al-Shugour. Many farmers can't afford to dig wells for irrigation, and the drought destroyed not only summer vegetable crops but decades-old trees in orchards, he said.

“There is no compensation for the loss of crops," Haj Salah said. "And you know the farmers make just enough to get by." Mostafa Summaq, director of water resources in Idlib province, said the groundwater dropped by more than 10 metres in three months in some monitoring wells, which he attributed to farmers overpumping due to a lack of rain. Local officials are considering installing metered irrigation systems, but it would be too expensive to do so without assistance, he said.

A drier climate Most experts agree that Syria and the broader region appear headed toward worse climate shocks, which they aren't prepared to absorb.

Climate change makes some regions wetter and others drier, and the Middle East and Mediterranean are among those that are drying out, said Matti Kummu, a professor at Aalto University in Finland who specialises in global food and water issues. Syria, specifically, has shown a trend of reduced rainfall over the past 40 years, while it has been using water at an unsustainable rate.

“There's not enough water from rainfall or from snowmelt in the mountains to recharge the groundwater,” Kummu said. Due to increasing irrigation needs, he said, "the groundwater table is going lower and lower, which means that it's less accessible and requires more energy (to pump)." At some point, the groundwater might run out.

Even with limited means, the country could take measures to mitigate the impacts, such as increased rainwater harvesting, switching to more drought-tolerant crops and trying to put more effective irrigation systems in place, even simple ones.

But “in the long term, if the situation in terms of the climate change impacts continues" as currently projected, how much of the croplands will be arable in the coming decades is an open question, Kummu said. (AP) SKS RD RD

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