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August 19, 2026
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Comprehensive strategic partnership drives ministerial and business engagements on investment, market access, technology collaboration, skills and agri-food trade.
India-Singapore economic engagement is being advanced through ministerial and business roundtables under the Comprehensive Strategic Partnership. A multidisciplinary business delegation is undertaking business-to-business, government-to-business and institutional engagements focused on partnerships, investment, market access, technology collaboration and talent development. Agricultural trade cooperation includes promotion of Indian agri-food exports through a retail initiative. The engagement seeks to strengthen trade, investment, digitalisation, advanced manufacturing, skills development, green-economy cooperation and people-to-people ties.
August 19, 2026
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International senior notes issuance diversifies the bank's funding sources and expands access to global debt capital markets.
IDFC FIRST Bank accessed international debt capital markets through its IFSC Banking Unit at GIFT City by issuing inaugural fixed-rate senior notes with a three-year tenor, due in 2029. The notes were offered to investors outside the United States under the Regulation S format. The issuance followed an investment-grade long-term issuer credit rating with a stable outlook, diversifies the bank's funding sources, and creates an avenue for access to global capital markets in support of long-term growth.
August 19, 2026
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Closing auction session safeguards market transparency through pooled order matching, backed by immediate action against manipulation and stronger monitoring.
Closing auction session (CAS) improves transparency and reduces manipulation in end-of-trading price formation by pooling buy and sell orders during a designated closing window for auction-style matching. Manipulation intended to undermine CAS is subject to prompt and stringent action, supported by enhanced monitoring. Responsible use of artificial intelligence and machine learning requires tiered accountability and governance, including kill-switch, human-in-the-loop and data controls. Regulated entities remain responsible for privacy, security and integrity of investor data used by every AI tool they deploy.
August 19, 2026
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Foreign exchange market movement shows rupee pressure from elevated crude prices, moderated by reserves, intervention and FCNR(B) inflows.
Foreign exchange market movement saw the rupee depreciate marginally against the US dollar amid higher global crude oil prices, heightened West Asia tensions, a stronger dollar environment and weaker domestic equity markets. Central-bank intervention and foreign fund inflows provided support. Adequate foreign-exchange reserves and stronger-than-expected FCNR(B) scheme inflows were identified as factors limiting the scope for sharp depreciation.
August 19, 2026
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AI reliability engineering expands through an enterprise hub supporting AI assurance, agentic engineering, observability and trusted AI deployment.
QualityKiosk Technologies has established a Hyderabad engineering hub to expand AI reliability engineering, AI assurance and agentic engineering capabilities. The centre supports engineering, marketing, branding, analyst-relations and advisory functions, while serving enterprise demand for AI reliability, product engineering, CloudOps and automation. It advances an AI reliability operating framework covering AI for reliability, reliability of AI, agentic engineering, shift-right engineering, frontier-system reliability, observability and platform-based delivery to promote governance, resilience, operational trust and assurance in AI-powered systems.
August 19, 2026
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Money laundering investigation examines alleged diversion of government contract funds and their use in creating trust and university assets.
Money-laundering investigation under the Prevention of Money Laundering Act led to searches of premises associated with the Maulana Mohammad Ali Jauhar Trust, its university, linked companies, promoters and a chartered accountant. The inquiry concerns alleged diversion of government contract funds through private contractors and their alleged subsequent use, including for creating assets of the Trust and university. Separate planning-law issues concern allegations that most university buildings were constructed without approved plans.
August 19, 2026
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Foreign exchange market conditions supported marginal rupee strength despite crude oil pressures, regional tensions and oil-company dollar demand.
Foreign exchange market conditions reflected a marginal strengthening of the rupee against the US dollar in early trading, supported by reported Reserve Bank of India intervention, a softer dollar index and foreign institutional equity inflows. Higher global crude oil prices, West Asia tensions and oil-company demand for dollars continued to exert pressure, resulting in a range-bound trading environment.
August 19, 2026
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Competition approval for Tata Steel's share acquisition restructures ownership of logistics joint venture following an existing partner's exit.
Competition approval has been granted for Tata Steel Ltd.'s acquisition of IQ Martrade Holding Und Management GmbH's entire 23% equity shareholding in TM International Logistics Ltd., resulting in IQ Martrade's exit. Following completion, Tata Steel and NYK (Europe) B.V. will hold 74% and 26% equity shareholding, respectively. TM International Logistics primarily serves Tata Steel's logistics and cargo transportation requirements through railway cargo transportation, port operations and cargo handling, freight forwarding, and value-added logistics services.
August 19, 2026
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Competition approval enables increased insurtech shareholding through a rights issue, crossing the prescribed ownership threshold in insurance businesses.
Competition approval has been granted for General Atlantic Singapore ACK Pte. Ltd. to acquire additional shareholding in Acko Technology & Services Private Limited through the target's rights issue, resulting in the acquirer crossing the 25% shareholding threshold on a fully diluted basis. The target is an Indian insurtech company with subsidiaries conducting licensed general and life insurance businesses, while another subsidiary awaits a corporate agency licence for insurance-policy distribution.
August 19, 2026
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India-Japan investment partnership prioritises technology, manufacturing and infrastructure collaboration, with Uttar Pradesh positioned for deeper Japanese commercial engagement.
India-Japan economic cooperation is positioned for deeper investment and commercial partnerships in manufacturing, technology, infrastructure, energy, defence, artificial intelligence, semiconductors, critical minerals, batteries and next-generation mobility. Uttar Pradesh is identified as a prospective destination for Japanese investment because of its workforce, connectivity, manufacturing base, MSME sector, export capacity, transport infrastructure and industrial clusters. Investment facilitation is associated with reforms in ease of doing business, digital public infrastructure and multimodal logistics.
August 19, 2026
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Carbon border adjustment compliance requires reliable emissions data, reporting, accreditation and verification throughout exporters' supply chains.
European Union Carbon Border Adjustment Mechanism compliance requires exporters to address covered products, embedded-emissions calculation, data collection, reporting, accreditation and verification. Preparedness across the export value chain depends on timely emissions data from suppliers and other stakeholders, supported by credible verification mechanisms. Capacity-building and engagement seek to facilitate workable compliance with evolving sustainability-related international trade requirements.
August 19, 2026
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Youth banking engagement promotes sustained customer relationships through digital access, campus outreach and financial support across evolving life stages.
Public Sector Banks and Public Financial Institutions are urged to implement actionable strategies with clear ownership and realistic timelines. Youth banking engagement is to be strengthened through a focused campaign, a common digital access platform and physical outreach, supporting young customers' evolving financial needs. Priority sector lending requires granular monitoring, early identification of target gaps and productive credit flow to intended beneficiaries. Agriculture and horticulture value-chain financing may cover farmer producer organisations, storage, processing, logistics and market linkages, while credit card strategies include digital onboarding, cross-selling and RuPay-UPI integration.
August 18, 2026
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Port connectivity obligations shape Vizhinjam export-import operations, logistics integration, infrastructure acceleration, and scrutiny of prior stakeholder notification.
Vizhinjam port concession obligations include road and rail connectivity to maximise the benefits of export-import operations. The State government proposes land acquisition funding for a ring-road project, is engaging with central ministries on rail connectivity, and is seeking to expedite national-highway construction. Mission Samudra is intended to connect Cochin port and 18 mini ports with Vizhinjam to support lower-cost, faster exports. Concerns were also raised over the State government not receiving prior intimation of a proposed stake transfer in the port project company.
August 18, 2026
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Public sector banking competitiveness requires distinct institutional strengths, early capability building and strategic support for economic growth priorities.
Public sector banks are urged to use their customer base, branch networks, geographic reach, institutional experience and digital capabilities to build stronger competitive positions and leadership. Each bank may develop distinct areas of excellence based on geography, customer relationships, sectoral expertise, technology capabilities or international presence. Strategic priorities include deposit mobilisation, banking for youth, support for investment and global capability centres, agriculture and horticulture infrastructure, credit-card business reorientation and priority sector lending.
August 18, 2026
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Youth-focused banking requires public sector banks to deliver personalised digital services, financial awareness, and responsible credit engagement.
Public sector banks are urged to implement sustained youth-focused banking through campus outreach, simple personalised round-the-clock services, dedicated youth support and financial awareness. Engagement should develop long-term relationships beyond account opening while preserving prudential standards. Youth should receive guidance on the formal credit ecosystem, including credit scores, credit history, bank credit products and government credit schemes, to support responsible credit discipline and future financial needs. A dedicated portal may provide a single access point for banking awareness and suitable financial opportunities.
August 18, 2026
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Taxpayer service improvement and litigation reduction guide administrative planning for stronger infrastructure, systems, coordination and future tax department functioning.
Improvement of taxpayer services, reduction of tax litigation, infrastructure strengthening and preparation of an actionable roadmap for future Income Tax Department functioning were considered as operational priorities. Deliberations covered e-HRMS, service matters, reservation policy, systems administration, capacity building, expenditure budgeting, TDS administration, inter-agency coordination, and office infrastructure. Officials identified institutional challenges and priorities for strengthening taxpayer-facing and internal departmental functions.
August 18, 2026
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Duty-free UK market access strengthens export opportunities for Indian goods and services, supporting MSMEs, agriculture, manufacturing and global value-chain participation.
India-UK Comprehensive Economic and Trade Agreement provides duty-free access to the UK market for nearly all Indian exports and may improve the competitiveness of Haryana's manufacturing, agricultural, MSME and services sectors. Preferential access covers products including textiles, engineering goods, auto parts, processed foods and pharmaceuticals, while agricultural exports remain subject to exceptions for sensitive products. The agreement also provides market access across 137 UK services sub-sectors, supporting IT, digital, professional, financial and technical services and facilitating global value-chain participation.
August 18, 2026
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Youth banking outreach promotes campus engagement, financial awareness, responsible credit discipline and long-term access to formal banking services.
Public sector banks are urged to conduct a month-long "Banking for Youth" outreach campaign from 2 October 2026 for persons above 16 years of age. Outreach through educational and skill-development campuses should combine account opening, financial awareness and direct engagement. Banks should develop tailored youth strategies to build long-term banking relationships. Proposed measures include online learning content, lifestyle-linked benefits, dedicated youth banking support, and awareness of credit scores, credit products and government credit schemes. A dedicated youth banking-awareness portal may serve as a single access point for appropriate banking services and financial opportunities.
August 18, 2026
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Competition approval for Prudential's acquisition of equity shareholding in an Indian life insurer supports the proposed insurance-sector combination.
Competition approval has been granted for Prudential Corporation Holdings Limited to acquire certain equity shareholding in Bharti Life Insurance Company Limited. The acquirer is the holding company for its group's insurance and asset-management operations in Asia and supports operations in Asia and Africa. The target is an IRDAI-licensed Indian life insurer.
August 18, 2026
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Foreign remittance certification due diligence faces nationwide verification targeting shell entities, their controllers, and certifying professionals.
Nationwide verification of suspicious outward foreign remittances targets entities with little or no reported business activity, their controllers, and professionals issuing tax determination certificates. Scrutiny concerns remittances disproportionate to reported turnover, inconsistent with stated purposes, or linked to entities not operating from declared addresses. Form 15CB, or Form 146 under the corresponding framework, requires certifying accountants to assess taxability from books of account and relevant records, supporting tax deduction at source and treaty compliance through due care, diligence and professional judgment.

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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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