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    OmniCard Launches India's First Flexi Benefits Basket on UPI — Employee Benefits Beyond Just Meals
    Final US Section 301 Measures on Forced Labour: India Placed in Lower Tariff Tier at 10%
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    July 27, 2026
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    UPI-enabled flexi benefits wallets support employee-selected tax-efficient allowances with category controls, compliance monitoring and employer reporting.
    A UPI-enabled flexi benefits wallet is described as allowing employees to allocate employer-provided allowances among eligible categories and make payments through the relevant wallet at UPI-accepting merchants. Tax-efficient treatment is stated to depend on the prescribed conditions applicable to each benefit category. Merchant-category-code controls are intended to restrict expenditure to eligible purposes, while centralised allocation, transaction visibility and reporting support employer compliance. The arrangement is stated to operate through a Reserve Bank of India licensed prepaid payment instrument framework.
    July 27, 2026
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    Section 301 forced-labour measures place Indian imports in a lower tariff tier while preserving specified product exclusions.
    Section 301 forced-labour import measures impose an additional ad valorem duty on imports from India, with India placed in a lower additional-tariff tier than initially proposed. Specified exports that attract no additional duties, and goods already subject to Section 232 measures, remain outside the Section 301 additional duty. A substantial portion of Indian exports is therefore excluded, while the remaining exports are subject to the additional duty. The textile-specific mechanism has not yet been operationalised, and engagement continues in relation to that mechanism and bilateral trade agreement negotiations.
    July 27, 2026
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    FCV tobacco market stability remains under review through coordinated measures to protect growers and maintain transparent auction operations.
    FCV tobacco market stability was reviewed with emphasis on protecting growers' interests and considering long-term measures for the sector. The delegation inspected Tobacco Board auction operations, interacted with growers on prevailing market conditions, and noted the transparent and orderly conduct of auctions. The Government is monitoring developments and examining appropriate measures with the State Government, Tobacco Board and stakeholders to safeguard FCV tobacco farmers' interests.
    July 27, 2026
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    Corporate Mitra Scheme supports MSMEs through accredited professionals delivering affordable compliance, financial, taxation, accounting and governance assistance.
    The Corporate Mitra Scheme seeks to strengthen MSMEs by connecting them with accredited para-professionals providing affordable compliance and business-support services. Corporate Mitras are envisaged to assist with regulatory compliance, finance, taxation, accounting and governance, allowing enterprises to focus on growth. The scheme also trains young graduates in industry-relevant skills and creates employment opportunities. IICA Shillong serves as the nodal agency for coordination, stakeholder liaison, promotion and awareness in the North Eastern Region.
    July 26, 2026
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    Tax administration must deliver timely lawful service, protect public assets, and uphold integrity in tax collection.
    Tax administration should assist common citizens by handling matters within departmental authority without unnecessary delay, while remaining within applicable rules. Government departments should protect public land from illegal occupation and expedite lawful land transfers, permissions, construction arrangements and procurement for departmental premises and accommodation. Integrity is the essential principle for officials performing tax-collection functions.
    July 26, 2026
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    Investment fraud and forged residence certificates prompted chargesheets over alleged misappropriation, fabricated revenue records, land purchases and employment access.
    Criminal chargesheets concerned alleged investment fraud through false promises of high returns and alleged misappropriation of investor funds, involving a company stated to be unregistered with SEBI, RBI and the relevant Registrar of Companies. A separate chargesheet concerned alleged conspiracy to procure permanent resident certificates using forged revenue records, with the certificates allegedly used for land purchases and government employment. Forensic examination reportedly found that the relevant revenue documents were not genuine according to official records.
    July 25, 2026
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    Money-laundering allegations in online rummy gaming prompt prosecution proceedings and asset attachment over suspected cheating of users.
    Money-laundering proceedings concerning online real-money rummy operations include a prosecution complaint against Gameskraft Technologies, RummyTime Technologies, founder-directors and associated persons. The allegations concern proceeds of crime said to arise from cheating users through rummy applications and from an addictive environment encouraging repeated wagering. The proceedings also involve provisional attachment, seizure and freezing of financial holdings, equity interests and immovable properties alleged to be connected with suspected proceeds of crime. The founder-directors' arrests were declared invalid by the Karnataka High Court, while the investigating agency proposes to challenge that order.
    July 25, 2026
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    Banking financial performance reflected loan and deposit growth, improved asset quality, stronger margins and prudent contingency provisioning.
    Quarterly financial performance reflected growth in customer business, loans and deposits, expansion in lending portfolios, an improved CASA ratio and lower cost of funds. Asset quality improved through reductions in gross and net non-performing assets, while profitability indicators improved in relation to net interest margin, cost efficiency, provisions, net profit and return on assets. The bank received credit-guarantee claims for its microfinance portfolio and created a contingency provision for macroeconomic and geopolitical uncertainty. Capital adequacy and common equity tier-one ratios were also reported.
    July 25, 2026
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    Forced-labour import tariffs place Indian goods under an additional duty while exemptions preserve access for specified exports.
    A 10 per cent Section 301 additional import duty applies to specified Indian goods over and above ordinary most-favoured-nation duty, following a forced-labour-related investigation. Generic pharmaceuticals, smartphones, other specified products, and goods already subject to Section 232 sectoral duties remain outside the additional levy. The textile-specific mechanism has not yet been operationalised for India, while tariff-rate quota concessions using US-origin cotton and fibre were announced for certain other economies. India continues engagement on a bilateral trade agreement and tariff access for garments using American inputs.
    July 25, 2026
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    Copper Clad Laminate expansion advances through policy and rights-issue approvals, supporting domestic electronics manufacturing and strategic growth initiatives.
    The company reported progress on a proposed Copper Clad Laminate manufacturing project, including in-principle approval under the Gujarat Electronics Policy and substantial project completion. The facility is intended to support domestic electronics manufacturing and reduce import dependence. It also reported upgraded credit ratings, enhanced rated bank facilities, and stock-exchange in-principle approvals for a proposed rights issue supporting expansion and strategic growth initiatives.
    July 25, 2026
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    US forced-labour tariffs place India in a lower tier while preserving exclusions for specified imports and Section 232 products.
    US Section 301 forced-labour measures impose an additional 10 per cent tariff on imports from India, with India placed in a lower tariff tier than initially proposed. Generic pharmaceuticals, smartphones and certain specified products outside additional duties remain excluded, as do products already covered by Section 232 measures, including steel, aluminium and auto parts. The textile-specific mechanism has not yet been established or operationalised, and engagement continues in connection with bilateral trade agreement negotiations.
    July 25, 2026
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    Money-laundering investigation examines alleged fictitious expenses, circular vendor payments, and consultancy payments without services or deliverables.
    A money-laundering investigation alleges misappropriation through fictitious expense entries, unsupported vouchers, and inflated vendor invoices used to withdraw funds in cash. The Enforcement Directorate further alleges that payments described as software or IT consultancy expenses were made to Exalogic Solutions Pvt Ltd and Veena T without services or deliverables. The report cites statements concerning the alleged sham payments, Exalogic's dependence on company funds, and subsequent transfers from its account. The PMLA case is based on a prosecution complaint concerning suspected financial irregularities.
    July 25, 2026
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    Tax certainty and taxpayer-centric administration drive simplified compliance, reduced litigation, digital service delivery, and stronger voluntary tax compliance.
    Tax administration reform under the Income-tax Act, 2025, rules and forms is directed toward a simpler, transparent and taxpayer-centric system. Key priorities include reducing compliance costs and litigation through tax certainty, faster return processing, refunds, grievance redressal, voluntary compliance and timely appeal disposal. Digital initiatives, including PAN 2.0, ITBA 2.0, IEC 3.0, Kar Saathi and SAKSHAM NUDGE, are intended to simplify compliance and improve taxpayer experience. Capacity building in technology, international taxation, transfer pricing, digital assets and cybersecurity supports this reform agenda.
    July 24, 2026
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    Trade Practice Investigation: Tech-company antitrust fines prompt proposed tariffs and trade sanctions under federal trade law mechanisms.
    A formal investigation into alleged unfair trade practices has been announced in response to European regulatory fines imposed on major United States technology companies. The stated concern is that digital antitrust penalties are unfairly directed at United States businesses, with possible tariffs on European Union imports indicated. The proposed response is linked to Section 301 of the Trade Act of 1974, permitting import taxes and other sanctions against unjustifiable, unreasonable or discriminatory trade practices.
    July 24, 2026
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    Import tariffs and energy costs heighten inflation risks, pressuring consumers, corporate profits and monetary-policy expectations amid market volatility.
    Fresh tariffs on imports, rising energy prices and Middle East conflict are identified as concurrent pressures on global financial markets. The tariff measures apply to nearly all imports into the United States and are paid by importing companies, which typically pass the additional costs to consumers. Higher energy costs and tariffs may increase inflationary pressure, reduce household discretionary spending and affect corporate profitability, while influencing monetary-policy expectations. Investors also questioned whether substantial artificial-intelligence investment can support technology-sector valuations.
    July 24, 2026
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    Responsive tax governance promotes taxpayer convenience, correction of bona fide errors, tax certainty, prompt refunds and prevention of avoidable litigation.
    Responsive tax governance requires convenience for honest taxpayers, correction of bona fide errors and firm consequences for deliberate tax evasion. The Income Tax Act, 2025 is intended to simplify the legal framework, reduce uncertainty and lower compliance costs, supported by stronger electronic filing infrastructure and prompt refund processing. Tax certainty should promote voluntary compliance and shift the focus from litigation management to litigation prevention through consistent guidance, simplified procedures, technology, standardised processes, effective grievance resolution and reduction of recurring taxpayer difficulties.
    July 24, 2026
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    Examination integrity safeguards prompt monitoring, enforcement action and proposed stricter penalties for paper leaks and institutional failures.
    Examination integrity measures include reported termination of agency officials, contemplated legal and criminal action, proposed stricter punishment for paper leaks, and Supreme Court monitoring of preventive steps. The Supreme Court also prohibited unauthorised posting or uploading of audio-video court proceedings on social media and digital platforms without prior administrative permission. The updates further address taxpayer facilitation alongside firm action against evasion, trade measures connected with forced-labour concerns, and potential legal action concerning university communications to students.
    July 24, 2026
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    Foreign exchange market stabilisation supported rupee recovery as investor outflows, geopolitical tensions and elevated crude prices maintained currency pressure.
    Foreign exchange market conditions saw the rupee recover against the US dollar amid reports of Reserve Bank of India intervention and dollar sales by public-sector banks to limit further depreciation. Foreign institutional investor outflows, weak domestic equity sentiment, geopolitical tensions, and elevated crude oil prices continued to pressure the currency. A decline in crude prices, diplomatic engagement, and central-bank intervention were identified as potential stabilising factors.
    July 24, 2026
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    Forced-labour import prohibition enabled lower tariff treatment for Sri Lankan goods, supporting export competitiveness and responsible trade practices.
    Tariff treatment for Sri Lankan goods entering the United States was reduced after Sri Lanka prohibited imports of goods produced using forced labour. The prohibition placed Sri Lanka within the lower tariff category under the stated US framework. The reduction is described as supporting exporter competitiveness while reflecting commitments to fair trade, responsible business practices, internationally accepted labour standards, and sustainable economic reforms.
    July 24, 2026
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    One District One Product strengthens district product branding, market access, food-processing support and export-oriented value chains.
    The One District One Product initiative supports district-identified products through branding, market access, exhibitions, capacity building and Government e-Marketplace onboarding. States and Union Territories select products and may leverage Central and State schemes, as no district-specific allocation is made. PM Ekta Malls and the PMFME Scheme support sales, food-processing projects, common infrastructure, branding, packaging, quality standardisation and food-safety compliance. Districts as Export Hubs promotes export-potential products through export committees, action plans and value-chain coordination.

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      Red Fort blast: Initial probe indicates 'accidental' detonation of explosives

      November 11, 2025

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      New Delhi, Nov 11 (PTI) Findings of the initial probe into the blast near the Red Fort suggest it may have been "accidentally triggered" while a hastily assembled explosive device was being transported, following the busting of an inter-state terror module, officials said on Tuesday.

      Investigators have zeroed in on a Pulwama-based doctor, Umar Nabi, who was driving the car used in the explosion that claimed 12 lives, and had alleged links to the terror module busted with the recovery of explosives mainly from neighbouring Faridabad in Haryana.

      On Tuesday, the Jammu and Kashmir Police took a DNA sample from Nabi's mother to establish the relation.

      "The suspect was likely spooked after the raid in Faridabad which forced him to relocate hastily, increasing the chance of a mishap. The incident appears to have shifted from a suspected suicide attack to an unintended explosion during transport," a senior police officer said.

      However, police are probing all angles, including suicide bomber attack, sources said.

      The officer said that intelligence teams' first assessment suggests the improvised explosive device (IED) was assembled incorrectly, which limited its destructive effect.

      "The bomb was premature and not fully developed, thus limiting the impact. The explosion did not create a crater and no shrapnel or projectiles were found," he added.

      The Red Fort blast on a busy Monday evening came hours after eight people, including three doctors, were arrested and 2,900 kg of explosives seized with the uncovering of a "white collar" terror module involving the Jaish-e-Mohammed and Ansar Ghazwat-ul-Hind and spanning Kashmir, Haryana and Uttar Pradesh.

      Meanwhile, the Delhi Forensic Science Laboratory has collected 40 samples from the blast site, which include mangled remains of the vehicle and human body parts, and these will be analysed for chemical traces. The laboratory has constituted a special team for analysis of samples, sources said.

      The Delhi Police's FIR called the explosion "a bomb blast" as it invoked sections pertaining to conspiracy and punishment for a terror attack under the Unlawful Activities (Prevention) Act, officials said.

      Initially, it was claimed that three people were in the car during the blast. However, it is now clear that only Nabi, who was on the run after the busting of the terror module, was driving the i20 car when the blast took place.

      According to the police's investigation, it has also emerged that Nabi waited in the Sunehri Masjid parking lot for nearly three hours while searching on the internet about updates regarding his associates' arrest in Faridabad. The investigators have managed to establish an 11-hour trail of Nabi's vehicle.

      He proceeded on Chhata Rail Chowk road near the Red Fort, then took a U-turn. The blast took place a few metres before the Red Fort police post, according to officials privy to the probe.

      The car passed through multiple owners before being repurchased by Nabi on October 29. Its pollution under control (PUC) certificate was updated on the same day.

      The multiple ownership of the car creates suspicion that this was part of the well-planned conspiracy.

      The blast probe has been handed over to the National Investigation Agency (NIA), a decision taken after a review meeting chaired by Union Home Minister Amit Shah.

      Among those arrested on Monday were Dr Muzammil Ganaie and Dr Shaheen Sayeed, both connected to the Al-Falah University in Faridabad, from where 360 kg of ammonium nitrate was recovered.

      According to investigators, Shaheen was leading the Jaish-e-Mohammed's women recruitment wing in India. She headed the Jamaat-ul-Mominat, the group's female wing.

      Nabi, whose name has emerged as the main Delhi blast suspect, hailed from Lethpora in south Kashmir's Pulwama district and was allegedly carrying explosives, possibly ammonium nitrate, in the car, they said.

      A Delhi Police team visited the Al-Falah University in Faridabad and detained five to six people for questioning.

      Police sources said the teams are checking CCTV cameras of the university to know more about the activities of the accused in the days leading up to the busting of the module.

      Even as the police probe widened in the matter, an unsettling silence prevailed in the area near the Red Fort as police and FSL teams still remained at work in collecting evidence and remains of bodies from the blast site and its vicinity.

      According to the FIR, the impact of the blast was such that the car was propelled several feet above the ground and the wall and the roof of the police chowki was damaged. Some body parts were even found in the car.

      While no terror organisation has claimed responsibility behind the attack, investigators suspect the involvement of Jaish-e-Mohammed behind it even though they are also probing the involvement of other terror outfits.

      Preliminary findings suggest ammonium nitrate, fuel oil and detonators may have been used in the blast that ripped through the slow moving car near a traffic signal.

      As investigations into the blast and the terror module continue, officials said a man named Tariq from south Kashmir's Pulwama district had given the i20 car to Nabi, and is now under arrest.

      Teams from Delhi Police, NIA and intelligence agencies have fanned out across Delhi and Kashmir. Four people have been detained in the raids in Kashmir. Of the four, two have been shifted for joint interrogation for their role in the Delhi blast as well as the inter-state terror module.

      Several raids were also conducted at multiple locations in Delhi. The national capital has been placed on high alert with strict vigil being maintained at the airport, railway stations and bus terminals.

      Hours before the blast, a social media post, titled 'Is something going on in Delhi?', was shared on Reddit. The user claimed that he noticed an unusually large presence of police and army personnel while crossing the area earlier that day.

      Following the blast, security across the national capital has been intensified.

      All vehicles entering Delhi, whether private or commercial, were being thoroughly checked and verified as part of heightened security measures, officials said.

      An overnight search operation was conducted at hotels and guest houses in Daryaganj and Paharganj areas to trace possible suspects.

      The Red Fort metro station has been closed for commuters and traffic restrictions imposed in the area.

      Of 12 people who died in the blast, seven have been identified till now. One mutilated body was recovered from the mangled remains of the car, officials said. PTI BM SSJ SGV NSM SHB SLB VIT BUN KVK KVK

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