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    After nine years at helm, N Chandra to exit Tata Sons amid expansion, governance standoff
    RBI invites comments on the Draft “Reserve Bank of India (Interest Rates on Loans and Advances) Directions, 2026”
    Sensex falls 188 pts amid elevated crude oil prices; Tata Group stocks decline after N Chandra's exit
    SJM urges govt to stand firm against US tariff pressure, calls for boycott of American products
    Union Minister of Commerce and Industry Shri Piyush Goyal Calls for Fair Trading Practices and Taking ‘Make in India’ from Local to Global
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman delivers keynote address at Seminar on “Role of the New Development Bank in M...
    Delhi HC halts processing of IT-returns of Supreme Court, high court judges
    Over 36,000 firms shut operations in Maharashtra in 5 yrs; Oppn claims graft, govt interference
    Powering India's Energy Freedom
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    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
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    August 12, 2026
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    Holding-company governance succession follows leadership departure, requiring transition planning amid unresolved strategy, capital allocation, board representation and listing questions.
    Tata Sons' leadership succession and governance framework have become central following the chairman's decision not to seek reappointment when his term ends in February 2027. The board has been asked to decide on a successor promptly. Unresolved matters include the strategic roadmap, losses and capital requirements in newer businesses, board representation, capital allocation, an exit route for the Shapoorji Pallonji Group, and the possible listing of Tata Sons. Future leadership must manage these issues while improving returns from investment-intensive businesses and maintaining established operations.
    August 12, 2026
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    Interest-rate regulation for loans and advances proposes harmonised fixed and floating loan-pricing principles across regulated entities.
    Interest-rate regulation for loans and advances is proposed to be harmonised across all regulated entities through a principles-based framework for fixed-rate and floating-rate loans. The framework would be calibrated to each entity's nature, complexity and scale, while supporting monetary policy transmission, credit-risk-based pricing, and fair, non-discriminatory borrower treatment. It addresses divergent commercial-bank practices in determining the marginal cost of funds-based lending rate and its components, alongside limited regulatory coverage of fixed-rate loans. Separate final directions are intended for each category of regulated entity after consideration of feedback.
    August 12, 2026
    Show AI Summary
    Elevated crude oil prices and Tata leadership transition drove broad equity market selling amid inflation concerns.
    Indian equity markets declined amid elevated crude oil prices, inflation concerns and broad risk-off selling. Tata Group shares, particularly TCS, came under pressure after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends. Crude oil prices approaching the USD 90-per-barrel level affected investor confidence because of potential inflationary effects, while uncertainty over United States-Iran negotiations and Strait of Hormuz shipping disruptions added to global energy market concerns.
    August 12, 2026
    Show AI Summary
    Trade sovereignty and energy security underpin calls to resist tariff pressure and protect sensitive sectors in bilateral negotiations.
    Trade sovereignty and energy security are advanced as grounds for resisting tariff pressure linked to Indian purchases of Russian crude. Bilateral trade negotiations should proceed through equality, reciprocity and mutual respect without compromising agriculture, dairy, energy security or strategic autonomy. Concerns are also raised over removal of e-commerce inventory restrictions for foreign direct investment and over proposed Merchant Discount Rate charges on UPI transactions. Withdrawal of the inventory measure and opposition to payment-provider charges are urged, alongside possible restrictions on United States technology and social-media companies and consumer boycotts of American goods and services.
    August 12, 2026
    Show AI Summary
    Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
    Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
    August 12, 2026
    Show AI Summary
    Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
    Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
    August 12, 2026
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    Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
    Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
    August 12, 2026
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    Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
    Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
    August 12, 2026
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    Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels.
    CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
    August 12, 2026
    Show AI Summary
    Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
    India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
    August 12, 2026
    Show AI Summary
    AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
    AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
    August 11, 2026
    Show AI Summary
    Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
    Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
    August 11, 2026
    Show AI Summary
    Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
    Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
    August 11, 2026
    Show AI Summary
    GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
    Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
    August 11, 2026
    Show AI Summary
    Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
    Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
    August 11, 2026
    Show AI Summary
    Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
    Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
    August 11, 2026
    Show AI Summary
    Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
    Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
    August 11, 2026
    Show AI Summary
    Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
    PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
    August 11, 2026
    Show AI Summary
    MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
    GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
    August 11, 2026
    Show AI Summary
    Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
    Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.

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      Chile's presidential race headed to tense runoff between communist, hard-right candidates

      November 17, 2025

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      Santiago, Nov 17 (AP) Chile is headed to a tense presidential runoff after a first-round vote Sunday set up a showdown between a member of the Communist Party and an ultraconservative veteran politician, sharply polarizing the country between the political left and right.

      Jeannette Jara, 51, the communist former labour minister and candidate of Chile's center-left governing coalition, claimed more than 26 per cent of valid ballots with more than 80 per cent of the vote counted, failing to pass the 50 per cent threshold to secure victory in the first round.

      “This is a great country,” she said from her campaign headquarters in Santiago, Chile's capital. “I want to give everyone who voted for me a warm hug.” José Antonio Kast, 59, a hard-right former lawmaker and devout Catholic opposed to same-sex marriage and abortion, captured more than 24 per cent of the vote, underscoring the resilience of his law-and-order platform as a surge in organised crime rattles one of Latin America's safest nations and foments anti-migrant sentiment among Chileans.

      Kast had a tougher message for the country after learning he would advance to the runoff.

      “What we need to avoid is the continuation of a very bad government,” he said, thanking Evelyn Matthei, Chile's center-right establishment candidate who landed in a disappointing fifth place, for throwing her support behind him.

      “We may have had our differences … but those differences are nothing compared to what we see before us," he said.

      Crime, immigration boost the right An admirer of US President Donald Trump and Brazil's former President Jair Bolsonaro, Kast has vowed to deport tens of thousands of undocumented migrants and construct hundreds of kilometers of ditches, barriers and walls along Chile's northern border with Bolivia to prevent people from crossing, particularly from crisis-stricken Venezuela.

      “We want change, and that change today is about security,” José Hernández, the 60-year-old owner of an agricultural company said after casting his ballot for Kast. “This stage of my life should be about enjoyment. But I'm home by 9 pm because of fear.” Although voters gave Jara an edge on Sunday, Kast will benefit in the second round from a large share of votes that went to three eliminated right-wing challengers who campaigned aggressively on the need to tackle illegal immigration.

      Center-right candidate Franco Parisi, an economist with a large social media following, surprised pundits by finishing third. Some observers said that could reflect how Chile's first-ever presidential election with mandatory voting and automatic registration added millions of apathetic citizens to the voting rolls.

      Johannes Kaiser, a former YouTube provocateur elected as a radical libertarian lawmaker in 2021, came in fourth.

      Chile's constitution does not allow reelection to consecutive terms, so left-wing President Gabriel Boric, whose presidency ends in March, is not standing.

      Like her opponents, Jara has called insecurity a top priority, promoting plans to deport foreigners convicted of drug trafficking, boost security along Chile's borders and tackle money laundering.

      “On the question of more jails, more punishments, more imprisonment, closing borders, restricting migrants, there is no debate anymore between the right and left,” said Lucía Dammert, a political scientist and Boric's first chief of staff.

      “But it's an issue that always enhances the right, everywhere in Latin America.” Winning over wary voters The race now goes to a second round on December 14 and analysts believe the starkly opposed Jara and Kast will tack to the middle ground in order to broaden their appeal.

      “We will definitely see Jara and Kast after today being even more moderate, talking about things that voters care about and trying to compete for the center,” said Rodolfo Disi, a political scientist at Chile's Adolfo Ibáñez University.

      Over the next month, Jara faces the challenge of winning over voters concerned about her lifelong membership in Chile's Communist party, which supports authoritarian governments in Cuba and Venezuela. Jara came under fire early on in her campaign for referring to Cuba as a democracy, walking the comment back months later.

      “We liked her at first, but that moment was when our opinion shifted, it seemed like a really closed-minded view,” Camila Roure, 29, said outside a polling station where she voted for Matthei, the daughter of a general who served in Augusto Pinochet's 1973-1990 military dictatorship. “Unfortunately my two main options say troubling things about dictators.” But as a woman, Roure said, she wouldn't vote for Kast – given his history of opposition to divorce and abortion, even in cases of rape.

      Although Kast has more recently sought to deflect attention from what he calls traditional family values and his German-born father's Nazi past – which mobilized progressive voters against him during his last two failed presidential bids – he has made clear his views remain the same.

      “A Kast government wouldn't just be a political shift, it would be a huge step backward,” said Macarena Breke, 27, an English teacher voting for Jara in downtown Santiago.

      Jara promises a social safety net President Boric, the young, tattooed ex-student protest leader who came to power in 2021 vowing to “bury neoliberalism” on the heels of mass unrest over inequality, has faced criticism from allies and rivals alike that his government failed to fulfill its sweeping promises of social change.

      Economic discontent is simmering in one of Latin America's most prosperous nations, with growth sluggish and unemployment up over 8.5 per cent. The country retains its dictatorship-era constitution after voters rejected a government-backed charter that would have transformed Chile into one of the world's most progressive societies.

      But Boric's government has several landmark welfare measures to show for itself — many of them thanks to Jara.

      As labor minister, she raised the minimum wage, boosted pensions and shortened the workweek to 40 from 45 hours.

      “The right is trying to sell this idea that the country is collapsing. But I don't see that,” said Loreta Sleir, a 27-year-old who voted for Jara.

      To address Chile's cost-of-living crisis — which in 2019 helped fuel the country's most significant social upheaval since the 1990 fall of Pinochet's dictatorship — Jara proposes a “living” monthly income of around $800 through state subsidies and minimum wage hikes. She promises to invest in big infrastructure projects and new housing.

      Kast promises to shrink the state Kast proposes quite the opposite.

      Taking a page from the playbook of President Javier Milei in neighboring Argentina, he vows to shrink the public payroll, eliminate government ministries, slash corporate taxes and get rid of regulations in a bid to revive the stagnant economy – which has slowed the pace of job creation as immigrants flood the labor market.

      He says he'll make a staggering USD 6 billion in spending cuts over 18 months — a bid which, even if far-fetched, appeals to voters disconcerted by repeated fiscal deficits.

      “The money disappears, the left spends it I don't know what, human rights, and I can barely afford rent,” said Jorge Ruiz, 48, a cab driver who voted for Kast.

      Chile's 2 per cent deficit this year pales in comparison to the economic woes elsewhere in the region — like in Argentina, where President Trump recently helped halt a currency crisis.

      But the repeated deficits are rare for a country long hailed as a regional success story for extreme laissez-faire economics, a model established by Pinochet and sustained for decades after his dictatorship's downfall. (AP) OZ OZ

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