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    Pending civil suits, arbitral claims stand abated after resolution plan approved under IBC: SC
    India'€™s forex kitty jumps USD 964 mn to USD 675.15 bn
    Rupee rises 14 paise to close at 96.28 against US dollar
    Office of Economic Adviser to Release Revised Index of Core Industries Series with Base Year 2022–23
    Fourth Edition of IICA’s National Conference on Responsible Business Conduct (NCRBC) 2026 held in New Delhi
    Reliance promoters raise stake by 0.5 pc through Rs 8,500-9,000 cr worth of share purchases
    US Senate bill seeks 100% tariffs on India, 4 other nations for buying Russian oil
    NRIs can bring USD 70-80 bn into India through FCNR deposits: expert
    NetAcct Solutions Launches Entries ERP Powered by the Entries AI Platform
    Union Minister of Commerce and Industry, Shri Piyush Goyal Leads High-Level Delegation to Finland to Strengthen Trade and Investment Ties
    India Achieves Major Milestone at Codex Commission with Adoption of Three Global Standards for Spices
    Centre for Trade and Investment Law launches guidebook to help Indian MSMEs expand into global markets
    Brazil calls Trump's 25 pc tariff unjustifiable, vows to impose reciprocal tariffs
    Trump administration races clock to rebuild US tariff wall knocked down by SC
    JK marks maiden export of premium cherries, plums to Singapore
    Chhattisgarh govt departments owe Rs 3,117 crore in power bills, assembly told
    Rupee weakens 17 paise to settle at 96.42 against US dollar; loses 1.5 pc in four sessions
    India-UK CETA takes effect: First zero-duty Indian coffee, jewellery consignments reach UK shores
    Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon session
    Foreign assets, income details for 2022-24 now available under AIS on income tax portal
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    July 17, 2026
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    Clean slate doctrine extinguishes uncrystallised operational claims and pending proceedings once an approved insolvency resolution plan becomes binding.
    The clean slate doctrine under the Insolvency and Bankruptcy Code is described as abating or extinguishing pending civil suits and arbitration involving pre-insolvency operational claims that had not crystallised into determinable and quantifiable amounts before resolution-plan approval. Claims must be submitted to and determined by the resolution professional, and only crystallised claims incorporated in the approved plan remain payable under its prescribed treatment. Once final, the creditor list and approved plan bind all stakeholders.
    July 17, 2026
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    Foreign exchange reserves rose as foreign currency assets, gold, Special Drawing Rights and IMF reserve position increased.
    Foreign exchange reserves increased during the reporting week, principally because foreign currency assets rose. Reserve components include foreign currency assets, gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund. Foreign currency assets, expressed in dollar terms, reflect valuation effects arising from movements in non-US currencies held in the reserves. Gold reserves, Special Drawing Rights and the reserve position with the International Monetary Fund also increased.
    July 17, 2026
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    Rupee exchange-rate movement stabilised after possible central bank intervention, while oil prices and foreign fund flows sustained pressure.
    The rupee strengthened against the US dollar following four declining sessions, reportedly amid possible Reserve Bank of India intervention. Elevated West Asia tensions, higher crude-oil prices and cautious foreign fund flows continued to weigh on the currency, despite consolidation in the absence of major domestic triggers. Market participants were expected to monitor global developments, crude-oil movements and foreign institutional investor activity for the next directional move.
    July 17, 2026
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    Revised Index of Core Industries adopts a new base year, adds Iron Ore, and aligns production measurement methodology.
    The revised Index of Core Industries adopts 2022-23 as its base year and replaces the 2011-12 series. Its weights are derived from the 2022-23 Index of Industrial Production and redistributed pro rata to total 100. Iron Ore is added as a core industry, expanding the basket to nine industries. The Steel Index will use gross production data for consistency with the Index of Industrial Production. In the Coal sector, only Raw Coal is retained; Coal Middlings and Washed Coal are excluded to prevent double counting.
    July 17, 2026
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    Sustainability reporting discipline requires credible disclosures, board-level integration, data assurance and proportionate ESG implementation across business value chains.
    ESG-led responsible business conduct requires sustainability disclosures that are relevant, comparable, evidence-based and verifiable, supported by reliable systems, internal controls, documentation, traceability and independent examination. Sustainability should be integrated into board-level decision-making, fiduciary responsibilities, risk management and long-term enterprise value. Stronger governance, accountability and data-assurance frameworks are needed to address greenwashing, with proportionate reporting, technology and capacity-building supporting implementation across value chains and MSMEs.
    July 17, 2026
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    Promoter shareholding increase through market purchases remains within creeping acquisition limits and signals confidence in long-term growth prospects.
    Promoter and promoter-group shareholding in Reliance Industries Ltd increased by nearly 0.5 percentage points through market purchases during the June quarter. The purchases were reported to be within SEBI creeping acquisition limits, allowing gradual promoter acquisitions without triggering a mandatory open offer where prescribed thresholds are met. The increase may strengthen promoter control and marginally reduce public float, and was characterised as reflecting confidence in long-term growth, earnings trajectory and capital-allocation plans.
    July 17, 2026
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    Tariffs on Russian oil purchasers would target sanctions evasion, with reassessment mechanisms and limited energy-sector exemptions proposed.
    Proposed United States Senate legislation would impose mandatory tariffs on imports from leading purchasers of Russian oil or gas and leading facilitators of Russian oil-sanctions evasion. It provides for periodic reassessment and tariff adjustments, while exempting qualifying countries reducing Russian gas imports. Russian uranium purchases for specified nuclear and medical needs, and certain nuclear and space cooperation activities, would be excluded.
    July 17, 2026
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    Foreign currency non-resident deposits enable overseas Indians to invest foreign earnings while supporting India's foreign-exchange reserves.
    Foreign Currency Non-Resident deposits allow Non-Resident Indians and Persons of Indian Origin to maintain overseas earnings as foreign-currency fixed deposits with Indian banks without conversion into Indian rupees. Banks may offer enhanced interest rates for a limited period under an initiative intended to strengthen foreign-exchange reserves and support the rupee. The framework covers the investment process, regulatory requirements, taxation aspects and advantages for eligible overseas investors.
    July 17, 2026
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    GST compliance management integrates reconciliation, input tax credit support, invoicing and statutory monitoring within an AI-powered enterprise platform.
    The unified cloud platform combines accounting, manufacturing, inventory, procurement, human resources, payroll, compliance, reporting and document management with an embedded AI agent. Its compliance functions include GST validation, purchase-register reconciliation with GSTR-2B, input tax credit support, supplier filing-gap detection, e-invoicing, e-way bills, TDS and statutory due-date tracking. Financial and operational workflows are intended to use common real-time data, with automation for invoices, journal entries, reconciliations, reporting, workflow approvals and compliance-risk monitoring.
    July 17, 2026
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    Institutional trade cooperation expands through industry MoUs, supporting investment, innovation and technology partnerships across strategic economic sectors.
    Bilateral trade and investment cooperation was advanced through ministerial discussions and industry engagements concerning financial markets, innovation, enterprise financing and commercial relations. Two institutional Memoranda of Understanding established mechanisms for industry collaboration and greater business engagement. Sector-specific interactions covered digital and frontier technologies, space, clean energy, bioeconomy, circular economy, infrastructure and advanced manufacturing, focusing on collaboration, investment and technology partnerships.
    July 17, 2026
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    Codex spice standards harmonise quality benchmarks for cardamom, coriander and vanilla, supporting trade consistency, market access and export competitiveness.
    Codex standards for large cardamom, coriander and vanilla establish harmonised international quality benchmarks following review by relevant committees on analytical methods, food additives and food labelling. The standards are intended to promote consistent quality requirements, facilitate trade, improve market access and support export competitiveness. India was also accepted as Co-Chair of an Electronic Working Group developing policy guidance on risk analysis for new food products.
    July 17, 2026
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    Export readiness for MSMEs strengthens global market access through trade intelligence, standards compliance, preferential origin rules and trade remedy awareness.
    Export readiness for Indian MSMEs is supported through practical guidance on identifying export opportunities, market-access requirements, trade intelligence tools, international standards, sustainability requirements and buyer identification. International expansion strategies include using preferential Rules of Origin and cooperation mechanisms under Free Trade Agreements, selecting export destinations, product positioning, diversification and value addition. Trade remedy awareness and guidance on unfair trade practices and import surges, together with institutional support, partnerships and trade-exhibition participation, can strengthen global competitiveness and integration into global value chains.
    July 16, 2026
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    Reciprocal tariff measures and multilateral dispute settlement are pursued in response to contested import duties.
    Reciprocal tariff measures are proposed in response to a new tariff on specified Brazilian imports allegedly involving unfair trade practices. Brazil rejects those allegations and proposes to use its reciprocity-law mechanisms, including reciprocal tariffs and other trade-related countermeasures, while pursuing multilateral dispute settlement. It maintains that trade investigations must conform to multilateral international-trade rules and notes that the tariff may burden exports and increase commercial uncertainty.
    July 16, 2026
    Show AI Summary
    Section 301 tariff authority offers a procedurally constrained route to replace temporary global import tariffs after emergency powers failed.
    Import-tariff authority is shifting from emergency-based measures to temporary and investigatory powers under the Trade Act of 1974. Section 122 supports a global tariff measure only for a limited period, whereas Section 301 permits tariffs or trade sanctions for unjustifiable, unreasonable, or discriminatory foreign trade practices after required public-comment and hearing procedures. Current Section 301 investigations concern forced-labour imports and alleged overproduction by trading partners. A more rule-bound tariff framework may reduce, but not eliminate, commercial uncertainty, and broad use of Section 301 for near-universal tariffs may face legal challenge.
    July 16, 2026
    Show AI Summary
    International food-safety and phytosanitary compliance supports premium cherry and plum exports from Jammu and Kashmir to Singapore.
    Export of premium cherries and plums from Jammu and Kashmir to Singapore was facilitated to expand overseas market access for temperate fruits. The produce underwent scientific cultivation, optimum-maturity harvesting, grading, sorting, packing and cold-chain handling in compliance with international food-safety and phytosanitary standards. The initiative highlights quality enhancement, market development, logistics, export-oriented production and improved post-harvest management for horticultural exports.
    July 16, 2026
    Show AI Summary
    Electricity bill recovery and prepaid departmental billing are presented alongside independent tariff regulation and rooftop solar promotion.
    Electricity-payment arrears were reported against government departments and non-government consumers. Tariffs are determined independently by the State Electricity Regulatory Commission on factors including power-purchase costs, regulatory assets, the distribution company's financial position and public hearings. Recovery from non-government consumers is undertaken under the Electricity Supply Code, while a pre-paid billing system is being implemented for government departments to improve payment compliance. Rooftop solar installations are also being promoted to reduce household electricity bills.
    July 16, 2026
    Show AI Summary
    Rupee depreciation pressures intensify as elevated crude prices, foreign capital outflows and geopolitical tensions weigh on exchange markets.
    The rupee weakened for a fourth consecutive session amid elevated crude oil prices, a stronger dollar index and foreign capital outflows, with rising oil import costs adding to balance-of-payments pressures. Reserve Bank of India data showed an overall balance-of-payments deficit during the first two months of the fiscal year, although the current account recorded a surplus for April-May 2026. Geopolitical tensions and Strait of Hormuz risks were cited as supporting high crude prices, while possible Reserve Bank intervention could support the rupee.
    July 16, 2026
    Show AI Summary
    Zero-duty India-UK trade under CETA begins with jewellery and coffee consignments, supported by exporter compliance guidance.
    India-UK CETA introduced a low- or zero-tariff regime covering about 99 per cent of tariff lines for Indian exports to the United Kingdom. Initial zero-duty jewellery and coffee consignments reached the UK under the agreement. CETA is intended to improve market competitiveness, strengthen supply chains and support businesses, exporters, importers and investors. A dedicated facilitation forum and a guide to UK import standards and regulatory requirements support Indian exporters, particularly small and medium enterprises, in navigating the post-CETA trading regime.
    July 16, 2026
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    Foreign investor tax exemptions on government securities are proposed to continue, supporting sovereign debt market liquidity and capital inflows.
    Income-tax exemption for foreign investors in government securities is proposed to continue through the Income-tax (Amendment) Bill, 2026, replacing the corresponding ordinance. The ordinance exempted interest income and capital gains from the sale, exchange or transfer of government securities by foreign investors, effective from 1 April. The measure seeks to attract foreign capital, deepen the sovereign debt market and improve liquidity amid global economic volatility. The legislative agenda also includes MSME reforms concerning delayed-payment redressal, enforcement of arbitral awards and State flexibility in constituting facilitation councils.
    July 16, 2026
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    Foreign asset reporting requires complete Schedule FA and Schedule FSI disclosures despite limited information displayed in the Annual Information Statement.
    Annual Information Statement records for eligible taxpayers include foreign assets and foreign-source income information received through the Automatic Exchange of Information framework. The information is intended to facilitate accurate tax compliance and is not a scrutiny or investigation mechanism. As the displayed data is limited to information received from partner jurisdictions and is not exhaustive, taxpayers must correctly and completely disclose all foreign assets and foreign-source income in Schedule FA and Schedule FSI, whether or not such information appears in the Annual Information Statement.

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      Definitive mechanism needed to bring back all fugitives to face Indian laws: Amit Shah

      October 16, 2025

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      New Delhi, Oct 16 (PTI) Union Home Minister Amit Shah on Thursday said a "ruthless approach" must be adopted to bring every fugitive before the Indian justice system in a time-bound manner.

      He also underlined that India cannot be truly secure until those residing abroad and harming the country's economy, sovereignty, and security begin to fear the Indian laws.

      Addressing a conference on 'Extradition of Fugitives - Challenges and Strategies' organised by the CBI here, Shah asked all the states to set up at least one prison cell of international standards to blunt the claims of poor standards of Indian jails often made by fugitives in foreign courts to counter their extradition proceedings.

      The home minister also suggested developing a coordination mechanism between the passport issuance process and the law enforcement agencies, so that when the process of issuing a Red Corner Notice begins against any offender, their passport can be red-flagged.

      "It is not a difficult thing to do with the present technologies. When a red notice is issued, the passport should be cancelled to block the fugitive's international travel. If we can build this provision into the system, it will help bring the fugitives back," Shah said.

      Several fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi have raised the issue of poor conditions of Indian prisons to counter their extradition cases in foreign courts.

      India has 338 extradition requests pending with various countries.

      Earlier, CBI Director Praveen Sood said in his welcome address that India issued a record 199 Interpol notices in 2025, which is more than double compared to 2024, when 96 Interpol notices were issued -- 52 red and 44 blue. As many 189 notices were issued in the first nine months of 2025, including 79 red notices and 110 blue notices, Sood said.

      "So far, Interpol has published a total of 957 red notices against fugitives. Of these, 231 are related to CBI cases, 130 to NIA, 21 to ED, 12 to NCB cases, and the remaining to various state police forces," he said.

      Sood, however, said one cannot take pride in these figures just yet for two reasons -- first, the number is still relatively low compared to other countries, and second, the real work begins only after the notices are published.

      At the conference, which was also attended by Home Secretary Govind Mohan, Foreign Secretary Vikram Misri, and Director of Intelligence Bureau, Tapan Kumar Deka, Shah said that while maintaining a zero-tolerance policy against corruption, crime and terrorism within the country, "we must also adopt a zero-tolerance approach towards those operating such activities from beyond India's borders".

      "It is our responsibility to bring all such criminals under the purview of Indian laws and to create a robust mechanism for this purpose," he said.

      The home minister said India cannot be truly secure until those residing abroad who harm the country's economy, sovereignty and security begin to fear the Indian justice system.

      Shah said it should be a collective resolve that no matter how cunning a criminal may be, the reach of justice must be even swifter.

      The issue of fugitive criminals is linked to the country's sovereignty, economic stability, law and order, and national security, he said.

      Asserting that after a long time, a structured approach is being developed on this subject, the home minister said that time has come to ensure a system that adopts a "ruthless approach" and brings every fugitive before Indian laws in a time-bound manner.

      Shah said two crucial aspects -- assurance and ecosystem -- are essential to apprehend any fugitive, as he stressed the need to eliminate the assurance in the minds of fugitive criminals that the law cannot reach them.

      He said the ecosystem of legal, financial, and political support must be dismantled, and the institutional nexus created by fugitives abroad eradicated.

      The home minister suggested that with the cooperation of the CBI, every state must establish a unit dedicated to creating a mechanism for bringing back fugitives who committed crimes and fled the state.

      This effort must be accelerated through a "whole of government" approach.

      Shah also asked the agencies to use "to the fullest extent" Sections 355 and 356 of the Bharatiya Nagrik Suraksha Sanhita (BNSS), which provide for 'trial in absentia' that has been included in the law for the first time since India's Independence, allowing trials of fugitives to proceed even in their absence.

      The actionable points emerging from this conference, along with the Bharatpol and 'trial in absentia' provisions, should be integrated to create a mechanism within both state police forces and all Central agencies, with the CBI officially overseeing it, he said.

      Shah also suggested establishing a robust system for sharing the database of fugitives with police forces across the country.

      Besides, a focused group should be formed within the police force in every state to coordinate on narcotics, terrorism, financial and cyber crimes with the CBI, he said.

      Shah asked the Intelligence Bureau (IB) and the CBI to strengthen and accelerate this focus group through the multi-agency centre (MAC).

      Every state police force should quickly set up an expert special cell to ensure effective preparation of extradition cases with guidance from the CBI, Shah said, adding that the central agency should also create a dedicated division to guide these cells.

      Shah said a special campaign should be launched to convert the existing Blue Corner notices into Red Corner notices, for which a dedicated cell should be created in every state.

      A zero-tolerance approach must be adopted not only against corruption, crime and terrorism, but also against criminals operating from outside India, Shah said.

      Efforts must be made to bring all fugitives within the ambit of law and to establish a definite mechanism for this purpose, he added.

      "Whether they are economic offenders, cyber criminals, those involved in terrorist activities or part of organised crime networks, a ruthless approach must be adopted against every fugitive to ensure they are brought before the Indian justice system. The time has come for this," Shah said.

      Senior officials from the Cabinet secretariat, IB, external affairs ministry, CBI, ED, NTRO, FIU, CBDT, NCB, NIA, and Mumbai Police will deliberate on key issues during the conference, ranging from Bharatpol and Interpol products, geo-locating fugitives, bringing them back, strengthening cases in foreign jurisdictions, pursuit of fugitives, and tracking the money trail.

      A session by Helen Malcolm, a well-established extradition advocate from the UK's Crown Prosecution Service, is of special interest, with many high-profile fugitives such as Vijay Mallya, Sanjay Bhandari, Nirav Modi, Vir Karan Awasthy, and Ritika Awasthy presently living in the UK with Indian agencies finding it difficult to seek their repatriation to face the law here.

      The home minister asserted that the Modi government has undertaken foolproof measures to ensure that no offender escapes the wrath of the law.

      "Under the leadership of Prime Minister Narendra Modi, a strong India is moving forward to ensure not only security of its borders, but also strengthening the rule of law," Shah said. PTI ABS ACB SKL ARI ARI

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