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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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US Senate rejects competing bills to fund govt, increasing risk of shutdown on Oct 1

September 19, 2025

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Washington, Sep 19 (AP) The Senate rejected competing measures on Friday to fund federal agencies for a few weeks when the new budget year begins on Oct 1, increasing prospects for a partial government shutdown on that date.

Leaders of the two parties sought to blame the other side for the standoff.

Democrats accused Republicans of not negotiating with them to address some of their priorities on health care as part of the funding measure, even though they knew some Democratic votes would be needed to get a bill to the president's desk.

Republicans said Democrats were making demands that would dramatically increase spending and were not germane to the core issue of keeping agencies fully running for a short period of time while negotiations continued on a full-year spending measure.

“The Republican bill is a clean, nonpartisan, short-term continuing resolution to fund the government to give us time to do the full appropriations process. And the Democrat bill is the exact opposite," Senate Majority Leader John Thune said shortly before the votes.

“It's what you might call, not a clean CR, a dirty CR – laden down with partisan policies and appeals to Democrats' leftist base.” The Democratic proposal would extend enhanced health insurance subsidies set to expire at the end of the year, plus reverse Medicaid cuts that were included in Republicans' big tax breaks and spending cuts bill enacted earlier this year.

“The American people will look at what Republicans are doing, look at what Democrats are doing, and it will be clear that public sentiment will be on our side,” said Senate Democratic Leader Chuck Schumer of New York, who has repeatedly threatened a shutdown if health care isn't addressed.

The Senate action came after the House earlier in the day passed the Republican-led funding bill. The measure would extend government funding generally at current levels for seven weeks.

The bill would also add about $88 million in security funding for lawmakers and members of the Supreme Court and executive branch in the wake of the assassination of conservative activist Charlie Kirk.

The vote was 217-212. Rep Jared Golden of Maine was the lone Democratic member to support the bill.

House Speaker Mike Johnson of Louisiana said he knew he had few votes to spare as he sought to persuade fellow Republicans to vote for the funding patch, something many in his conference have routinely opposed in past budget fights. But this time, GOP members see a chance to portray the Democrats as responsible for a shutdown.

"The ball is in Chuck Schumer's court. I hope he does the right thing. I hope he does not choose to shut the government down and inflict pain on the American people,” Johnson said.

President Donald Trump had urged House Republicans to pass the bill and put the burden on Democrats to oppose it. GOP leaders often need Trump's help to win over holdouts on legislation.

“Every House Republican should UNIFY, and VOTE YES!” Trump said on his social media site.

Democratic leader Hakeem Jeffries said that in opposing the continuing resolution, Democrats were working to protect the health care of the American people. He said that with Republicans controlling the White House and both branches of Congress, “Republicans will own a government shutdown. Period. Full stop." The Senate moved quickly after the House vote to take up the measure plus the Democratic counter. Both fell short of the 60 votes needed for passage. Now, it's unclear how things will shake out.

Senators could then potentially leave town until Sept 29 — one day before the shutdown deadline. The Senate has a scheduled recess next week because of Rosh Hashana, the Jewish new year.

Meanwhile, Johnson said Republicans were discussing whether to stay back in their home districts through the rest of September, essentially forcing the Senate to approve the House-passed measure or risk a shutdown. He said lawmakers have a lot of work to do in their districts.

Democrats on both sides of the Capitol are watching Schumer closely after his last-minute decision in March to vote with Republicans to keep the government open.

Schumer argued then that a shutdown would be damaging and would give Trump and his White House freedom to make more government cuts. Many on the left revolted, with some advocates calling for his resignation.

The vote in the spring also caused a temporary schism with Jeffries, who opposed that particular GOP spending bill and said he would not be “complicit” with Schumer's vote.

The two Democratic leaders now say they are united, and Schumer says things have changed since March. The public is more wary of Trump and Republicans, Schumer says, after the passage of Medicaid cuts.

Most Democrats appear to be backing Schumer's demand that there be negotiations on the bill — and support his threats of a shutdown, even as it is unclear how they would get out of it.

“Look, the president said really boldly, don't even talk to Democrats. Unless he's forgotten that you need a supermajority to pass a budget in the Senate, that's obviously his signal he wants a shutdown,” said Sen Tammy Baldwin.

While the Democratic measure to fund the government had no chance of passage, it does give Democrats a way to show voters their focus on cutting health care costs. Unless Congress act, tax credits going to low- and middle-income people who purchase health insurance through the Affordable Care Act will expire.

That will mean a big increase in premiums for millions of Americans.

“There are some thing we have to address. The health insurance, ACA, is going to hammer millions of people in the country, including in red states,” said Sen Angus King. “To me, that can't be put off.” Republicans have said the tax credit issue can be dealt with later this year. They're also using Schumer's previous arguments against shutdowns to make the case he's playing politics.

“Democrats voted in favour of clean CRs no fewer than 13 times during the Biden administration,” Thune said. “Yet now that Republicans are offering a clean CR, it's somehow a no-go. It's funny how that happens.” (AP) SCY SCY

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