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    Minister of State for Commerce and Industry and Electronics & Information Technology Shri Jitin Prasada on Official Visit to Morocco.
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    HSBC INDIA OPENS NEW BRANCH IN NASHIK TO SUPPORT WEALTH EXPANSION
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August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
August 22, 2026
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Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
August 22, 2026
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Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.
August 22, 2026
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Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
August 22, 2026
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Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
Reported absence of an IAS officer was attributed to a family medical emergency and a pending leave request, rather than enforcement searches concerning an alleged recruitment-examination scam. The officer denied any connection with those searches and expressed willingness to face an inquiry. Enforcement searches at the Karnataka Public Service Commission concerned a money-laundering investigation into alleged recruitment irregularities. The State Cabinet decided to advise suspension of the commission chairperson and initiation of an inquiry after an earlier suspension was set aside for lacking the Cabinet's aid and advice.
August 22, 2026
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Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.

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Corp. Laws / SEBI / IBC

27 lakh MGNREGS workers deleted from Oct 10 to Nov 14, says report

November 17, 2025

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New Delhi, Nov 17 (PTI) Around 27 lakh MGNREGS workers were deleted across India between October 10 and November 14, a report said, flagging the large volume as "highly unusual".

According to a report by Lib Tech India, a consortium of academicians and activists, around 10.5 lakh workers were added to the flagship rural livelihood scheme during the same period of time.

The report pointed out that the spike overlapped with the period when e-KYC became mandatory under the scheme from November 1, 2025, and the surge in deletions appeared in the same period.

"Such a large volume of deletions concentrated in one month is highly unusual," the six-monthly report on the implementation of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005, said.

Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), better known as MGNREGA or NREGA, is a flagship scheme aimed at enhancing livelihood security of households in rural areas of the country by providing at least 100 days of guaranteed wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.

According to the report, the national trend showed net additions for the first six months between April and September of the financial year 2025-26.

Around 15.2 lakh workers were deleted in this period and 98.8 lakh workers were added, making the total additions to 83.6 lakh.

Net additions stood at around 83.6 lakh workers by the end of September, but they fell sharply to 66.5 lakh by November 14 after the deletion spike, it said.

The year-long trend was reversed in this one month.

"This means the system effectively lost around 17 lakh net workers in one month, a dramatic reversal of the previous trend," the report said.

The report also pointed out that there is also a decrease of about six lakh active workers -- those who actually obtained employment under MGNREGA for at least a day in the last three years.

"This indicates that even workers who are currently participating in the programme are getting affected," the report said.

According to the Rural Development Ministry, e-KYC, or electronic-Know Your Customer, has been made mandatory for all active MGNREGS workers to weed out ineligible or fake beneficiaries.

The report also pointed out that the surge in MGNREGS job cards deletion was witnessed when the Aadhaar-Based Payment System (ABPS) was enforced.

MGNREGA job cards entailing over 5.48 crore workers were deleted in 2022-23, a jump of 267 per cent compared to 2022-21, when job cards involving 1,49,31,801 workers were deleted, according to a written reply by the Rural Development Ministry in Lok Sabha in December 2023. ABPS was first introduced in the Mahatma Gandhi NREGA as an optional payment method in 2016 and was made mandatory on January 1, 2024.

The Lib Tech India report also said that while the data do not show a uniform pattern across all states, a "clear and worrying trend" emerges when the states with the highest e-KYC completion are focused on.

The top three states in e-KYC completion are Andhra Pradesh, with 78.4 per cent e-KYC and 15,92,903 deletions; Tamil Nadu, with 67.6 per cent e-KYC and 30,529 deletions; and Chhattisgarh, which has 66.6 per cent e-KYC and 1,04,310 deletions, it said.

While the Rural Development Ministry did comment on the report, a senior official said the e-KYC cannot be linked with card deletions and job cards cannot be deleted on the basis that the worker is not eligible for APBS or e-KYC. The official added that deletion of job cards is a regular exercise undertaken by the states and Union Territories (UTs).

Under ABPS,  Aadhaar details of a worker are seeded with their job card and bank account. It also has to be mapped with the National Payments Corporation of India (NPCI) database, and the concerned bank's institutional identification number (IIN) should also be mapped with the NPCI database.

According to data on the Rural Development Ministry's website, e-KYC has been done for around 39.81 per cent of the total workers under MGNREGS so far, and 55.01 per cent of the active workers.

According to government data, there are 27,64,56,185 workers under MGNREGS and Aadhaar seeding has been done for 22,94,69,620 workers. The total number of active workers is 12,17,48,395, and Aadhaar seeding has been done for 12,13,41,804 workers. PTI AO AO KSS KSS

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