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    NFRA Constitutes Advisory Committee on Audit Quality, Assurance and Technology
    ED arrests ex-panchayat CEO who allotted govt funds for fake marriages during COVID lockdown
    Goyal blames market conditions for Jet Airways' downfall; ED says he 'bled airline to death'
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September 5, 2026
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Audit quality advisory committee broadens expert input on assurance, technology, and stakeholder perspectives in oversight.
NFRA has constituted an Advisory Committee on Audit Quality, Assurance and Technology under Rules 15 and 16 of the National Financial Reporting Authority Rules, 2018. The Committee will provide expert inputs and suggestions on matters significantly affecting audit quality, while supporting functions relating to awareness of auditing and accounting standards. Its members represent professionals, chief financial officers, audit committees, independent directors, technology experts, regulators and industry.
September 4, 2026
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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
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Money-laundering allegations: discharge plea attributes airline's financial collapse to macroeconomic conditions and denies loan siphoning through sales agents.
Money-laundering proceedings arising from alleged bank fraud concern claims that loans advanced to an airline were siphoned off. The discharge application attributes the airline's financial collapse to adverse macroeconomic conditions rather than fraudulent conduct or laundering, denies diversion through General Sales Agents, and maintains that related payments were board-approved and disclosed. It also contests the treatment of the bank's outstanding claim as funds received by the founder, while the investigating agency alleges systemic fraud, loan diversion and laundering.
September 4, 2026
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Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
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Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
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Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
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IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.
September 4, 2026
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Personal security frameworks evolved from elite guards into intelligence-led protection systems, while VIP culture can distort their necessity.
Personal security evolved from elite guards into structured systems combining physical protection, intelligence, technology and specialised protocols. Prime Ministerial security in India was reorganised after the 1984 assassination of Prime Minister Indira Gandhi by her bodyguards. A commission recommended a single protective agency, leading to the formation of the Special Protection Group in 1985. Statutory parameters introduced in 1988 sought to rationalise and scientifically streamline protection arrangements. Advanced technology, training, intelligence and protocols do not eliminate personal-protection vulnerabilities, and security is characterised as a necessity rather than a status symbol.
September 4, 2026
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Rupee exchange-rate movement reflects foreign-currency deposit inflows, central-bank intervention, oil-price risks and changing market risk appetite.
Foreign-exchange liquidity measures, including a special central-bank programme for foreign-currency deposits, generated substantial inflows that supported the rupee. Inflows from foreign-currency deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened market conditions. Rupee appreciation was also supported by foreign equity inflows and risk appetite, but remained vulnerable to higher crude-oil prices, US-Iran tensions, safe-haven demand for the US dollar and possible disruption to oil flows through the Strait of Hormuz.
September 3, 2026
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Trade agreement consultations safeguard farmer, worker, MSME and sectoral sensitivities while phased bilateral tariff negotiations continue.
India-US bilateral trade agreement negotiations are being pursued on the stated basis that Indian sensitivities will not be compromised. The agreement's text remains non-public, while the government position identifies farmers, fishers, micro, small and medium enterprises, workers, handloom and handicrafts sectors, and the automobile industry as protected considerations. The arrangement is described as a first tranche, with further engagement contemplated following changes in the United States tariff landscape.
September 3, 2026
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Unauthorised toll collection apps allegedly generated fake receipts, concealed non-FASTag collections, and triggered a money-laundering investigation.
Unauthorised digital applications allegedly enabled toll collection from vehicles without FASTag stickers outside the official reporting system. Mobdata and Any were allegedly used to generate unauthorised or fake toll receipts, conceal collections from NHAI, and monitor such collections through dedicated portals. A PMLA investigation followed an FIR alleging fraudulent toll collection, with digital forensic material indicating use of the mechanism across around 100 toll plazas. Searches resulted in seizure of financial and digital records and freezing of bank accounts.
September 3, 2026
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Economic offence investigations: cross-border training strengthens officers' practical skills in investigation, prosecution, procedures, and handling complex financial crimes.
Capacity-building training under the Indian Technical and Economic Cooperation programme equipped officers from member countries with practical skills for investigating economic offences. It covered varied forms of financial and economic crime, cross-border impact, challenges in investigation and prosecution, standard operating procedures, and investigative best practices. The specialised law-enforcement engagement aims to strengthen international cooperation and investigative capacity in economic-offence matters.
September 3, 2026
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Unauthorised Aadhaar credential use triggers blacklisting and procurement debarment following alleged post-termination enrolment and update transactions.
Alleged unauthorised use of Aadhaar Registrar/EA Code credentials after termination of an operational engagement led the Delhi Construction and Other Workers Welfare Board to blacklist MDS Solution Pvt Ltd. UIDAI communication indicated that Aadhaar-related activity allegedly continued after cancellation through the Board's credentials. The Board lodged a police complaint, barred the firm from its tenders, procurement processes, empanelment and contract awards, and recommended consideration of action under applicable rules and policies.
September 3, 2026
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FCNR(B) deposits strengthen foreign-exchange liquidity and support rupee appreciation alongside foreign portfolio inflows into government securities.
Foreign-currency inflows through FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened foreign-exchange liquidity and supported appreciation of the rupee against the US dollar. Foreign portfolio investment in government securities was linked to the abolition of withholding tax and long-term capital gains tax on such investment. Currency-market conditions were also influenced by foreign institutional equity purchases, global risk appetite, crude-oil prices and geopolitical tensions.
September 3, 2026
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Electric vehicle adoption can reduce transport import dependence while domestic battery manufacturing increases projected long-term savings.
Electric-vehicle adoption across road-transport segments is projected to reduce dependence on imported petrol and diesel, notwithstanding continuing battery imports. Accelerated electrification could reduce vehicle-related import expenditure substantially by 2050 because reduced oil imports are expected to exceed battery-import costs. Domestic cell-manufacturing capacity may further increase savings by combining rapid vehicle electrification with battery localisation.
September 3, 2026
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Women's livelihood credit access will extend beyond self-help groups through standardised loan formalities and coordinated banking support.
Women's access to credit for livelihood expansion is to extend beyond Self-Help Groups to individual women members. Loan accessibility concerns include distance from bank branches, repeated visits to complete formalities, and inconsistent banking procedures. Regular State Rural Livelihood Mission meetings, bank participation, training, helplines, process improvements and coordination with bankers are intended to reduce barriers. Loan formalities are to be standardised across banks through a uniform process involving RBI and NABARD.
September 3, 2026
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Industrial development facilitation prioritises infrastructure, services, policy utilisation, and dry-port trade connectivity for businesses and agro-based farmers.
Industrial development facilitation extends beyond allocation of industrial plots to infrastructure development, services, and a favourable business environment. Industry-support policies seek to encourage participation by entrepreneurs, promote growth across sectors, and improve investment conditions without distinction between small and large enterprises. Dry-port infrastructure strengthens national and international trade connectivity, supporting import and export expansion for industrial and agro-based businesses.
September 3, 2026
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Regulated fintech infrastructure recognition highlights integrated payment, identity and collections capabilities across embedded financial product delivery.
Decentro operates an integrated fintech infrastructure platform combining payment acceptance, identity verification, banking and AI-led collections through a unified integration layer. It holds Payment Aggregator authorisations for online and physical payments, a Payment Service Provider licence through its GIFT City entity, and certification for offline identity-verification workflows. These capabilities support embedded financial products, payment acceptance, lending collections and related financial workflows for enterprise users.
September 3, 2026
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Responsible NBFC and HFC growth requires technology-enabled inclusion, proportionate regulation, sound governance, liquidity discipline, customer protection and cyber resilience.
NBFCs and HFCs can complement bank-led credit delivery through last-mile reach, sector-specific expertise, digital infrastructure, consent-based data sharing and cash-flow-based underwriting. Sustainable growth requires strong liquidity risk management, governance, compliance culture, diversified funding, stress testing, early-warning systems, dynamic provisioning and sound underwriting standards. Proportionate scale-based regulation, digital lending standards and a substance-over-form approach seek to support innovation while preserving financial stability. Customer protection, responsible lending, grievance redressal, fair recovery conduct, cyber resilience and protection of customer data remain essential.

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VELS University School of Law Marks its Decennial Year with Supreme Court and Madras High Court Dignitaries

September 24, 2025

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Chennai, Tamil Nadu, India (NewsVoir) The School of Law, VELS Institute of Science, Technology and Advanced Studies (VISTAS), a premier law institution in Chennai, marked its decennial year with grandeur at the University campus in Pallavaram, Chennai. The occasion was graced by eminent Judges of the Supreme Court of India and High Court of Madras. Hon’ble Mr. Justice N. Kotiswar Singh, Judge, Supreme Court of India, was the Chief Guest. Hon’ble Mr. Justice R. Mahadevan, Judge, Supreme Court of India, attended as the Guest of Honour, while Hon’ble Mr. Justice Manindra Mohan Srivastava, Chief Justice of the Madras High Court, joined as the Distinguished Guest. Several Judges of the Madras High Court, including Hon’ble Mr. Justice M. Nirmal Kumar, Hon’ble Mr. Justice G.K. Ilanthiraiyan, Hon’ble Mr. Justice D. Bharatha Chakravarthy, and Hon’ble Mrs. Justice R. Kalaimathi, graced the occasion as Special Guests. The event also witnessed the presence of Mr. S. Prabakaran, Vice Chairman, Bar Council of India, Mr. P.S. Amalraj, Chairman, Bar Council of Tamil Nadu and Puducherry, and Dr. S. Sivakumar, Senior Professor, Indian Institute of Legal Studies (Delhi) and former Member, Law Commission of India. The program commenced with a welcome address by Dr. Preethaa Ganesh, Vice President, Vels Group of Institutions. Dr. Ishari K. Ganesh, Chancellor of VELS University, felicitated the dignitaries and, in his Presidential Address, lauded the remarkable journey of the School of Law while encouraging students to embrace challenges as opportunities. Dr. S. Ambika Kumari, Dean of VELS School of Law, highlighted a decade of achievements, including excellence in legal research, Moot Court competitions, and the institution’s rising reputation among law colleges in India. Prizes were also awarded to students who excelled in the inter-college moot court competitions. Mr. S. Prabhakaran, Vice Chairman, Bar Council of India, praised the Chancellor’s vision, noting that the School has grown from 90 students to over 2,000 registered advocates with the Bar Council. The distinguished Justices shared their thoughts with students and faculty: Justice N. Kotiswar Singh, in his keynote address, emphasized the transformative role of legal education in shaping a just society. He urged law students to uphold integrity and fairness in their legal careers, stressing the importance of ethical practice. He also appreciated the School of Law for instilling values alongside academic rigor. Justice R. Mahadevan, addressing as Guest of Honour, commended the rapid progress of VELS School of Law within a decade and highlighted the need for lawyers to adapt to the evolving demands of technology and globalization. He encouraged students to pursue continuous learning, especially in emerging areas such as cyber law and intellectual property rights. Chief Justice of Madras High Court Justice Manindra Mohan Srivastava commended the School’s alumni who have risen as judges and successful advocates, reminding students that law is not just a livelihood but a service to society. Justice D. Bharatha Chakravarthy stressed the growing importance of mediation and arbitration in modern legal practice. Justice G.K. Ilanthiraiyan urged students to actively participate in moot court competitions and develop their advocacy skills. Justice M. Nirmal Kumar emphasized the nobility of legal education and the qualities expected of advocates. Justice R. Kalaimathi praised the institution’s accomplishments and extended her best wishes. The Decennial Year celebrations kicked off in September 2025 with the Tamil Moot Court Competition, fostering regional language advocacy. October will feature the vibrant Law Fest, with inter-collegiate competitions, debates, and cultural events. From October 2025 to March 2026, a series of events such as Conferences, Seminar, Workshops, Endowment and Special Lectures by distinguished jurists and legal experts have been proposed to be conducted. About VISTAS VELS Institute of Science, Technology and Advanced Studies (VISTAS) was declared a deemed-to-be University in 2008 by the Ministry of Human Resource Development, Government of India. With over 18,000 students and 1,100 faculty members, it offers 100+ programs across diverse fields including Medicine, Engineering, Law, Pharmacy, Nursing, Commerce, Maritime Studies, and Agriculture. VISTAS is recognised as one of the best deemed universities in Chennai for higher education. The University is recognized by UGC, AICTE, NMC, INC, PCI, BCI, DGS, and NCTE, holds NAAC A++ accreditation, has 11 NBA-accredited programs, and enjoys UGC 12(B) status. In the 2024 NIRF rankings, VISTAS was placed in the 101–150 band overall, with its Pharmacy discipline ranked 61st. About VELS School of Law Established in 2015, VELS School of Law in Chennai offers integrated five-year law programs, a three-year LL.B., and LL.M. programs in multiple specializations, along with a Ph.D. in Law. With over 2,500 students and 85 faculty members, the School combines rigorous academics, Moot Court competitions, legal internships, and community legal aid programs. Recognised for producing skilled advocates and socially responsible legal professionals, it has emerged as one of the best law schools in Chennai. For more details kindly visit www.vistas.ac.in. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI

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