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    Bengaluru customs arrest passengers for smuggling ganja, gold at airport
    Third-country goods routed via New Zealand into India won't get FTA duty benefits
    Govt urges bank employees to refrain from strikes, resolve issues through dialogue
    Ex-Punjab DIG Bhullar case: ED arrests 'middleman' Kirshanu Sharda for corruption
    RBI revises foreign currency deposit inflows under FCNR(B) upward to USD 133 bn
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September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.
September 21, 2026
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Duty-free access for Indian exports under the India-New Zealand trade agreement begins with its entry into force.
The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.
September 21, 2026
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Tariff sanctions and AI trade consultations examine reciprocal tariff reduction amid energy-purchase measures and objections to unilateral sanctions.
Expanded sanctions and tariff measures form the immediate trade-policy backdrop. The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 authorises expanded sanctions and tariffs targeting Russia and countries that buy its energy exports. China contests the application of tariffs to its purchases and opposes long-arm jurisdiction and unilateral sanctions asserted without a basis in international law or a UN Security Council mandate. Parallel negotiations contemplate a reciprocal tariff-reduction arrangement.

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92% of GCCs Piloting or Scaling AI, Yet Over 70% Lack ROI Frameworks, Reveals Zinnov–ProHance Study

November 10, 2025

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Saurabh Sharma, COO, ProHance (left) with Karthik Padmanabhan, Managing Partner, Zinnov Joint study uncovers critical employee–employer perception gaps on AI adoption and provides a pragmatic ROI from AI framework for GCCs New Delhi [India], November 10: 92% GCCs in India are piloting or scaling AI initiatives, yet over 70% lack structured ROI frameworks to measure their impact, according to a new joint study, Navigating AI ROI: How GCCs can Unlock Scalable Enterprise Value, released by global management consultancy, Zinnov and ProHance, an AI-led new-age workplace analytics and operations enablement platform. This imbalance between ambition and accountability signals an urgent shift from hype-driven pilots to ROI-first discipline. Based on insights from 160+ GCC leaders and an employee survey, the study contrasts leadership priorities with workforce realities in AI adoption. Leaders report limited AI adoption and low skills maturity, while employees show higher proficiency and frequent use. This perception gap is more than cultural; it is a structural blind spot that can slow scaling and undervalue real productivity gains at the grassroots. Reframing ROI through a Pragmatic Evaluation Lens The study finds ROI is the most urgent challenge today. Pilots are rising, but without structured measurement, leaders can’t prove value. Without ROI clarity, AI risks staying an experiment instead of becoming a lasting enterprise enabler. To address this, Zinnov and ProHance introduced the ROI from AI framework to bring discipline and credibility to measurement. The framework is not a one-size-fits-all formula but an adaptable guide that helps leaders evaluate ROI based on their industry, maturity, and organizational context. The framework evaluates ROI across five dimensions: - Stage of maturity – from pilot to enterprise scale - Baseline visibility – before-and-after measurement with attribution - Adoption breadth and depth – tracking workflow integration beyond licenses - Total Cost of AI Ownership – including hidden costs such as governance and compliance - Value delivered – capturing both tangible gains (efficiency, productivity, compliance) and intangible outcomes (employee and customer experience) By using this lens, GCC leaders can measure outcomes credibly, align adoption strategies with business priorities, and make scaling decisions with confidence—addressing the ROI problem head-on. Four Pillars of Readiness The whitepaper shows that scaling AI is less about technology maturity and more about operating model readiness across four key pillars. 1- Data & Infrastructure – 66% of leaders cited fragmented data, poor integration, and compliance risks as barriers. Unified, secure platforms are critical to scale. 2- Talent – 47% flagged skill shortages and low fluency; domain-specific, role-based skilling is essential to position AI as augmentation, not replacement. 3- Governance & Change – 55% of GCCs lack structured governance, weakening accountability. Embedding clear ownership and proactive change management is essential for trust. 4- Adoption & Usage Depth – 63% of leaders lack visibility into adoption, even as employees report frequent use. Measuring real workflow integration and impact is key to credible ROI. “AI adoption in GCCs is no longer the barrier – 92% are already piloting or scaling use cases. The real hurdle is ROI.” Said Karthik Padmanabhan, Managing Partner, Zinnov. “Leaders tell us pilots often multiply without proving business impact, governance remains inconsistent, and costs are routinely underestimated. This creates a widening gulf between AI activity and measurable value. The true test of AI is not in the number of pilots, but in outcomes that truly matter – accelerated cycle times, fewer errors, empowered employees, and differentiated customer experiences. Through this study, we have given leaders a pragmatic framework, grounded in four readiness pillars, to evaluate and unlock ROI at scale, moving AI from experimentation to a trusted Enterprise capability.” “GCC leaders are not short of ambition when it comes to AI, but without a credible adoption and ROI framework, that ambition risks getting trapped in pilot purgatory,” said Saurabh Sharma, COO, ProHance. “At ProHance, we see every day how visibility into work, coupled with the depth and breadth of AI adoption, directly impacts productivity outcomes. This whitepaper is about moving AI from experimentation to enterprise impact – helping GCCs not just deploy AI, but derive sustained, measurable returns that strengthen both business performance and employee outcomes.” AI’s decisive moment for GCCs is here. Success depends on measurable ROI, readiness across four pillars, and disciplined scaling. The next generation of GCC leaders will measure early, close perception gaps, and embed AI as a lasting enterprise capability. Download the Whitepaper here About Zinnov Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in New York, Santa Clara, Houston, Seattle, Bangalore, Gurgaon, Hyderabad, Pune, London and Paris. Over the past 23 years, Zinnov has successfully consulted with over 250+ Fortune 500 enterprises to develop actionable insights to help them accelerate their technology journeys to create value – across dimensions of revenue, transformation, and optimization. For more information, visit http://www.zinnov.com. About ProHance - ProHance is a next-gen, AI-led workforce management platform built on first principles. It empowers over 400,000 users across 36 countries, helping Fortune 500 enterprises, shared services, and GCCs gain real-time visibility, improve productivity, and drive measurable value in digital and hybrid environments. It delivers real-time insights into workforce utilization and capacity, optimizes end-to-end processes, and leverages advanced analytics and AI to enhance decision-making. Through its AI-powered Retention Risk Index (RRI), ProHance benchmarks workforce stability and engagement while enabling scalable AI adoption to unlock sustainable ROI and enterprise-wide transformation. For more information, visit www.prohance.net or follow us on LinkedIn Media queries Zinnov Nitika Goel, CMO [email protected] ProHance Shikha Mishra, PR Head [email protected] (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI

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