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    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
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August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
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Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
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August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
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August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.

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SC directs EC to include Aadhaar as 12th valid document for Bihar SIR

September 8, 2025

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New Delhi, Sep 8 (PTI) The Supreme Court on Monday directed that Aadhaar card "must" be included as an identity proof of voters in the special intensive revision exercise of electoral rolls in Bihar and gave the Election Commission the course of the day to implement the direction.

Adding the Aadhaar card to the list of 11 prescribed documents in the special intensive revision (SIR) exercise, a bench of Justices Surya Kant and Joymalya Bagchi made it clear the Aadhaar will not be a proof of citizenship.

In its order on the much debated issue, the apex court said the Election Commission can ascertain the genuineness of Aadhaar card number submitted by an elector for inclusion in the electoral roll.

The top court also sought EC’s explanation on showcause notices it issued to poll officials for not accepting Aadhaar card from voters.

"It is clarified that Aadhaar will also be included as an identity document for inclusion/identification of voters in Bihar," the bench said, adding, "Aadhaar shall be treated as 12th document by the EC. However, it is open for the authorities to examine the validity and genuineness of Aadhaar submitted by the voters. It is clarified that Aadhaar will not be treated as proof of citizenship." At the moment for Bihar SIR, there are 11 prescribed documents which electors have to submit with their enumeration forms for inclusion into the electoral roll.

The order brings Aadhaar at par with other prescribed documents including passport, birth certificate as valid proof of identity.

According to EC's June 24 notification, the final electoral roll is scheduled to be published on September 30.

Observing nobody wants the EC to include illegal immigrants in the electoral roll, the bench stressed only genuine citizens will be allowed to vote and those claiming to be genuine on the basis of forged documents will be excluded from the electoral roll.

Senior advocates Kapil Sibal and Shoeb Alam, appearing for RJD alleged despite three orders of the apex court asking the poll panel to accept Aadhaar cards as a valid proof of identity, the EC wasn't accepting it and even issuing showcause notices to poll officials, who were accepting it from electors.

Senior advocate Rakesh Dwivedi, appearing for the poll panel, submitted 99.6 per cent of the 7.24 crore voters in the draft roll had submitted documents and the petitioners' plea to include Aadhaar as the 12th prescribed document would not serve any practical purpose.

The bench referred to provisions of Aadhaar Act of 2016 and the Representation of Peoples Act and said Aadhaar couldn't be elevated to as a proof of citizenship but could only be considered as a proof of identity.

Justice Bagchi said of the 11 prescribed documents listed for Bihar SIR, only passport and birth certificates were conclusive proofs.

"Aadhaar is not alien to the Representation of People Act and Section 23 (4) of the Act allows Aadhaar as a proof of identity," he said.

Justice Bagchi added, "The statute as well as judicial decisions says that Aadhaar is not a valid proof of citizenship. But it is indeed a proof of identity and has some value as per statutes. You should examine it." The bench during the hearing told Sibal that Aadhaar alone couldn't be a valid proof of citizenship and had to be accompanied by other documents.

Sibal said he did not want Aadhaar to be accepted as proof citizenship but a valid proof of identity for voters, as booth level officers (BLO) couldn't determine a person's citizenship.

Dwivedi, however, submitted the petitioners actually wanted Aadhaar to be considered as a proof of citizenship and warned against "misuse".

"Petitioners want Aadhaar to be used as a proof of citizenship. We cannot allow that misuse. Around 99.6 per cent have submitted one of the 11 prescribed documents. This court has allowed Aadhaar to be used for 65 lakh people who were excluded from the draft roll. Now, over 250 people have filed their claim using Aadhaar. This is not even 1,000 people. For whom they are seeking Aadhaar is a question to be asked. We must look at the holistic picture," he said.

Dwivedi said for the purpose of electoral roll, the EC had the power to look into citizenship, claiming to have detected around 0.3 per cent illegal immigrants.

Advocate Ashwini Kumar Upadhyay, who has sought SIR in other states like Assam and West Bengal, said if Aadhaar was allowed, then the entire revision exercise would be futile as illegal immigrants, including Rohingyas would turn voters.

The bench reiterated in India every document can be forged but the genuineness can be ascertained by the authorities.

The top court posted the hearing for September 15 and asked the EC to publish the order on its website.

The poll panel had previously said claims and objections in the draft electoral roll under the SIR exercise could be filed beyond September 1 but these would be considered once the electoral roll was finalised.

The SIR of voter list in Bihar -- the first since 2003 -- sparked a huge political row, with the opposition parties alleging that the exercise is aimed at depriving people of their right to vote.

The EC has maintained SIR's purpose was to clean the voter list by deleting names of people who are dead, possess duplicate voter cards or illegal immigrants.

The SIR's findings reduced the total number of registered voters in Bihar, from 7.9 crore before the exercise to 7.24 crore after conducting it. PTI MNL MNL AMK AMK

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