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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
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    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
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    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
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    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
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    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
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    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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      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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