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    DRI seizes over 42 kg foreign-origin gold worth more than RS. 65 crore in crackdown on gold smuggling
    MoSPI signs MoU with Thapar Institute of Engineering & Technology, Punjab for undertaking a Research Study
    NCLT forms historic 5-member bench to decide on Subhash Chandra's Rs 6.5 cr repayment plan
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September 1, 2026
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Gold smuggling enforcement targets transit abuse, concealed carriage, and border routes through coordinated seizures and arrests nationwide.
Intelligence-led enforcement against organised gold smuggling resulted in the seizure of over 42 kg of foreign-origin gold and around 10 kg of foreign-origin silver, collectively valued at more than Rs. 65 crore, and the arrest of 25 persons. Operations targeted networks using airport transit routes, airport personnel, land-border corridors, coastal routes, and domestic road transport. Gold was concealed in wax, compound, paste, raw-chain and bar forms, including through body concealment, internally secreted capsules, clothing, and specially created cavities.
September 1, 2026
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Predictive consumption-expenditure framework will use household survey data to support poverty estimation, consumption analysis, and economic planning.
MoSPI and Thapar Institute of Engineering & Technology have entered into a memorandum of understanding for a research study to develop a predictive and analytical framework for monthly consumption expenditure in India. The study will use Household Consumption Expenditure Survey data to estimate Monthly Per Capita Consumption Expenditure at national and state levels, analyse household consumption patterns, and generate evidence relevant to poverty estimation and broader economic planning.
August 31, 2026
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Personal insolvency repayment plans: conflicting views on binding dissenting creditors prompted reconsideration through an expanded adjudicatory bench.
National Company Law Tribunal constituted a five-member bench after conflicting views on a personal insolvency repayment plan left no majority position for a formal order. The central issue is whether creditor approval of the plan binds dissenting creditors and extinguishes their claims against the personal guarantor. One view preserved dissenting creditors' independent recovery rights, while another applied the creditor-approved plan uniformly to all creditors. Disagreement also concerns the Adjudicating Authority's power to examine the resolution professional's report of the creditors' meeting.
August 31, 2026
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Personal insolvency repayment plans raise unresolved questions on dissenting creditors' rights and uniform extinguishment of claims.
Personal insolvency proceedings were referred for fresh adjudication because no majority emerged on the repayment plan. The Technical Member rejected the plan; the Judicial Member confined it to consenting creditors while preserving dissentents' recovery rights; and the Third Member approved it with uniform extinguishment of all creditors' claims. The dispute concerns whether creditor approval under section 115(1) binds dissenting creditors, the effect of section 79(2)(g), and the Adjudicating Authority's power to examine the Resolution Professional's creditors' meeting report.
August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
Show AI Summary
Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.

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Customs & Trade

Mexico's president increasingly backed against a wall in managing Trump relationship

September 5, 2025

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Mexico City, Sep 5 (AP) Mexico President Claudia Sheinbaum's strategy of managing a tumultuous relationship with US President Donald Trump may be running up against wider regional tensions and lack of willingness by the Trump administration to make concessions, experts say.

Since Trump took office, the freshly elected Mexican president has been lauded, and even dubbed a sort of “Trump whisperer", for being able to offset the brunt of US tariffs that have dealt a blow to other foreign economies.

Sheinbaum has done so by cracking down on cartels with a heavier hand than her predecessor, delivering dozens of cartel affiliates to American authorities and pointing to lower fentanyl seizures at the US border.

It was an exchange she said Thursday that she hoped to formalise. When the two leaders spoke in February, Trump tied the fentanyl coming from Mexico to the tariff threat, she said.

“So what do we propose?” Sheinbaum said at her morning press conference Thursday.

“If this problems reduces, then we evidently want to see that 25% (tariff) shrink.” But now, observers say Sheinbaum is increasingly backed against a wall.

Michael Shifter, senior fellow at the Inter-American Dialogue, said Sheinbaum is now having to walk “a fine line” with Trump that appears to only be getting more complicated.

"There's a sort of uncertainty that hangs over the relationship,” Shifter said.

“Sheinbaum likely feels incredibly frustrated because she has taken major steps toward dealing with the cartels. And it never seems to be enough to satisfy Trump.” Stopping short of signing an agreement Just a day before, Sheinbaum met with US Secretary of State Marco Rubio during his visit to Mexico, in which the leaders discussed security issues and agreed to continue working together to combat crime.

For weeks, Sheinbaum had been gunning to sign a formal security agreement with the US underscoring the importance of respecting Mexican sovereignty, with the hope of setting clear rules amid Trump's volatile foreign policy tactics.

The push for the security deal came as Sheinbaum has repeatedly and publicly rejected offers by the Trump administration to send US troops to fight cartels.

Her meeting with Rubio came just after the Trump administration carried out a strike in the southern Caribbean, killing 11 people it claimed were trafficking drugs to the US, something Rubio said was meant as a warning.

“I think the idea behind having an agreement is creating and building parameters,” Carin Zissis, Washington interim director of the Council of the Americas, said.

“You can see why Claudia Sheinbaum would be emphasizing sovereignty when on the way to visiting Mexico, Secretary Rubio was highlighting a U.S. military attack on an alleged vessel in the Caribbean." “US boots on the ground, that's a very concrete concern from the Mexican side,” she said.

But by Wednesday's meeting, it was clear the two governments were not going to sign a formal agreement. Instead, they announced a high-level group of Mexican and US officials who would monitor their cooperation.

It was unclear how much of a change that would actually make, given the fact that Mexican officials have been meeting regularly with the Trump administration since January.

“That seems like a fancy term that means nothing, but it means a lot,” Rubio said of the newly established joint group.

Lack of concessions Palmira Tapia, a political analyst for Mexico's Center for Economic Research and Teaching, said it was a sign that while Sheinbaum was following through on promises to crack down on cartels, Trump was not likely to make many concessions to the Mexican leader.

Just last month, Trump glibly told press that “Mexico does what we tell them to do” and last week said that while he liked Sheinbaum, he believed that Mexico was still run by cartels.

“There aren't really any incentives for Trump,” Tapia said.

“Because his winning strategy has been to get what he wants with the threat of tariffs.” It's left Sheinbaum with few alternatives at a time when tensions have peaked in Latin America due to the U.S. strike in the Caribbean.

The move ruffled the feathers of a number of leaders across Latin America, who still grapple with the complicated legacy and violent fallout of past American intervention in the region.

Following the meeting with Rubio, Mexico's government once again reminded the Trump administration of the importance of operating in the region "without subordination” and respecting allies.

However, Zissis and other observers said that while the Trump administration has showed little willingness to cede ground, Sheinbaum does have a few cards up her sleeve.

One, long used by Mexico's government, has been helping the US in block migratory flows north. The other is Sheinbaum's soaring level of popularity in Mexico, where polls show she boasts anywhere between 70-80 per cent approval.

At the same time, they said Sheinbaum has little room to radically shift her strategy toward Trump.

“It's a very delicate balance, because at the same time that she's handled this relationship so well, so much is at stake for Mexico,” Zissis said. (AP) ARI

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