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    Conference on “Financing India’s Journey towards Viksit Bharat” concludes in New Delhi
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September 21, 2026
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PMLA-IBC interface examines challenges in harmonising insolvency resolution with money-laundering asset attachment, investigation, tracing and enforcement.
The PMLA-IBC interface addresses reconciliation of insolvency resolution with anti-money-laundering enforcement where corporate debtor assets are attached during resolution. Section 32A is central to this interaction, although harmonised implementation remains challenging. The framework also considers money-laundering stages, hawala transactions, financial investigation, asset tracing, and evolving judicial approaches to aligning insolvency objectives with enforcement measures.
September 21, 2026
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Evolving insolvency law relies on legislative amendments and regulatory mechanisms to respond effectively to changing market conditions.
Subordinate legislation and regulatory mechanisms are important tools for maintaining responsiveness within the insolvency framework. Regulations may be framed for provisions of the Code and for fulfilment of its purposes and objectives, enabling practical responses to emerging issues. The interaction between primary legislation, regulations and market developments supports continuing refinement of insolvency law in line with changing conditions.
September 20, 2026
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Tariff policy and trade truce reshape bilateral engagement as rare-earth leverage limits coercive economic measures.
United States-China trade relations are being conducted through continued tariff policy, prior export restrictions, and a trade truce after escalating tariffs did not achieve their intended effect of changing Chinese economic conduct. China's concentrated supply of rare-earth inputs used in electronics provided negotiating leverage and contributed to the trade armistice. Indications that Chinese goods are routed through third countries to lessen tariff exposure qualify the decline in the bilateral goods imbalance. Continued tariffs have not constrained China's manufacturing expansion or its access to export markets.
September 20, 2026
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Ten-year director tenure cap governs removal of ineligible cooperative bank board members after regulatory review.
RBI required Latur District Central Cooperative Bank to remove directors considered ineligible for exceeding the ten-year maximum tenure applicable to district central cooperative bank directors. The action invoked director ineligibility under the Banking Regulation Act. Following a complaint and a court-directed timeline for regulatory action, RBI sought responses from the concerned directors, seven of whom resigned. An issue was raised over whether the tenure cap could apply retrospectively to appointments made before its stated commencement and whether it was being applied uniformly.
September 19, 2026
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Biometric Aadhaar authentication becomes essential for domestic LPG consumers seeking regulated subsidised refill bookings, while market-price supply remains available.
Biometric Aadhaar authentication is required from October 1 for domestic LPG consumers to book subsidised refills at the regulated retail selling price. Authentication can be completed through delivery personnel, distributor showrooms or designated mobile applications. Consumers unwilling or unable to authenticate may obtain LPG at the applicable market price without subsidy after registering their choice through specified digital channels. The framework distinguishes subsidised LPG linked to Aadhaar-authenticated consumers from market-priced LPG and seeks targeted subsidy delivery, reduced leakage, and prevention of diversion, duplicate connections and ineligible access.
September 19, 2026
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Cooperative bank director tenure limits require disqualification and removal when service exceeds the statutory maximum period.
Directors of District Central Cooperative Banks and Central Cooperative Banks are subject to a maximum 10-year tenure under the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025. RBI directed removal of a director ineligible to continue under section 10A(2A)(i), read with section 56, following concerns that directors of Latur District Central Cooperative Bank had exceeded the permitted tenure.
September 19, 2026
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Tariff treatment of Indian exports shifted from reciprocal duties to targeted trade measures, sectoral duties, and specified exemptions.
Upon expiry of the temporary global measure, an India-targeted 10 per cent Section 301 tariff, linked to forced-labour concerns, replaced it; the effective charge for most covered exports remained MFN duty plus 10 per cent. The current regime applies the Section 301 tariff to Indian exports except specified goods, with separate sectoral duties on steel, aluminium and auto components. Smartphones, medicines and energy products are exempt.
September 19, 2026
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PMLA-based FIR request over alleged consultancy payments remains under legal examination amid criticism of non-registration.
Enforcement Directorate sought registration of an FIR concerning alleged fraudulent payments by Cochin Minerals and Rutile Ltd to Exalogic Solutions, represented as IT consultancy fees. The request relied on evidence gathered through investigation and searches under the Prevention of Money Laundering Act. Registration remained under consideration after receipt of the Advocate General's legal opinion, with the Home Department examining the matter.
September 19, 2026
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Free trade agreements expand market access, entrepreneurial partnerships and youth career opportunities alongside public-sector recruitment and development participation.
Free Trade Agreements are presented as mechanisms for expanding cross-border partnerships, market access for entrepreneurs, and career opportunities for young persons. Youth employment is also linked to the expansion of the startup ecosystem beyond major cities and to public-sector recruitment through Rozgar Melas. Newly selected candidates are to join central government ministries, departments and organisations. Public service is framed around citizen-centred administration and decisions supporting a developed and self-reliant India.
September 19, 2026
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AI governance for regulated financial services enables natural-language automation while preserving enterprise security, auditability, control, and scalable deployment.
Assist-Edge enables teams to describe intended processes in natural language and use AI to create, modify, and enhance executable workflows. Working with reusable AI agents and workflows, it supports discovery, customisation, deployment, and scaling of enterprise automation. For banking, financial services, and insurance operations, its use is positioned alongside security, governance, auditability, and control, supporting governed adoption of scalable AI capabilities and movement from isolated experimentation to enterprise-wide intelligent automation.
September 19, 2026
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Recurring token reward distributions connect eligible holdings, platform activity, and partner participation through hourly settlement cycles.
BC Engine permits eligible $BC holdings to participate in hourly settlement rounds distributing BCD rewards. Participants can monitor active balances, cumulative rewards, unclaimed BCD, and settlement history through the Engine interface. Settlement amounts vary with ecosystem activity, while the mechanism links platform activity, token utility, user participation, and commercial partners through repeated value distribution rather than one-time promotional incentives.
September 19, 2026
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Asset monetisation of surplus public land and buildings is accelerated through transparent, value-oriented processes and stakeholder coordination.
NLMC's Board recommended monetisation proposals involving surplus land and building assets valued at over Rs. 5,000 crore. Monetisation is facilitated through asset identification, due diligence, valuation and appropriate process structuring, with emphasis on transparency, efficiency and value realisation. Sustained coordination with asset-owning entities is intended to expedite implementation and support timely, commercially appropriate monetisation of underutilised public assets.
September 19, 2026
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Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
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Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
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Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
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Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.
September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.

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FIMCA Calls for Strengthened and Inclusive Overseas Mobility Bill, 2025

October 22, 2025

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Mumbai, Maharashtra, India – Business Wire India The Federation of Indian Emigrants Management Councils & Associations (FIMCA.in) — representing over 1,500 licensed overseas recruitment agencies across Mumbai and Maharashtra — has urged Members of Parliament to support critical reforms in the draft Overseas Mobility (Facilitation & Welfare) Bill, 2025, introduced by the Ministry of External Affairs (MEA).

The proposed Bill is a significant and progressive step towards modernizing India’s overseas employment architecture, promoting safe, legal, and ethical migration while enhancing the protection of Indian workers abroad. FIMCA has submitted a comprehensive set of recommendations to the MEA to strengthen implementation and ensure balanced regulation that benefits both workers and legitimate recruitment agencies.

Key Recommendations by FIMCA 1. Continuity of Licensed Recruiting Agents: Provide for the automatic transition of valid Recruiting Agent (RA) licences under the Emigration Act, 1983, into the new Overseas Placement Agency (OPA) regime, allowing a 12–18 month transition period to safeguard legitimate agencies and prevent disruption.

2. Mandatory eMigrate Registration: Extend eMigrate registration to all Indian citizens travelling overseas for employment, paid internships, and training — including to newer destination regions such as Eastern Europe, CIS countries, and Israel — to improve transparency and worker protection.

3. Non-Monopolistic Implementation: Amend Section 15 of the draft Bill to prevent any monopolistic control over government-to-government (G2G) programmes. Empanelment for overseas recruitment should be open, competitive, and transparent under MEA supervision.

4. Proportionate Penalty Framework: Rationalize the proposed penalties (Rs. 5–20 lakh) by distinguishing between administrative and criminal offences, ensuring due process, prior notice, and appeal mechanisms.

5. Recognizing Mumbai as India’s Global Mobility Hub: Establish a Regional Overseas Mobility & Welfare Centre in Mumbai to serve as the western headquarters for safe migration, employer facilitation, and inter-state coordination.

Statement by FIMCA “India’s overseas recruitment industry is a cornerstone of our nation’s employment and remittance ecosystem. With over 1,500 licensed agencies based in Mumbai alone, this city is uniquely positioned to serve as the hub of India’s global mobility ecosystem. Our recommendations strike a fair balance between worker welfare and sustainable business continuity — aligning with the government’s vision for ethical, transparent, and legal migration,” said Alijan Rajan, Director and spokesperson, FIMCA.

FIMCA has written to Members of Parliament from Mumbai, Maharashtra, seeking their support to advocate these amendments during parliamentary deliberations on the Bill. The Federation reaffirmed its commitment to work closely with the MEA, IPEPCIL, SEPC, and Indian Missions abroad to strengthen India’s migration governance and ensure safe, dignified overseas employment.

(Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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