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    11th Meeting of National Traders’ Welfare Board Convened in New Delhi
    DRI seizes 9.40 kg foreign-origin gold worth around Rs. 15 crore at Mumbai airport; three arrested
    DRI seizes over 125,000 kg foreign-origin smuggled areca nuts and 41,000 kg poppy seeds worth around Rs. 20.31 crore in Assam and Mizoram in a crackdo...
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September 25, 2026
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Trader welfare policy discussions covered GST reform, digital commerce, finance access, export promotion, and coordinated institutional support.
Deliberations covered GST rationalisation, refund delays, audit duration, amnesty schemes, input tax credit anomalies and pending appeals, alongside proposed inclusion of traders in MSME facilitation committees, a centralised loan portal with a 30-day timeline, CIBIL score reforms and grievance helplines. Trader welfare measures considered timely contractor payments, safeguards against technical penalties, loan-repayment flexibility during lean periods and stronger Centre-State coordination.
September 25, 2026
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Gold smuggling through powdered gold concealed in food products led to seizure and arrests under customs law.
Intelligence-led interception and baggage examination identified foreign-origin gold converted into fine powder and mixed with packaged food products of similar colour, texture and consistency. Segregation and assaying yielded 9.40 kg foreign-origin gold, which was seized under the Customs Act, 1962. Questioning linked the passengers to the same organised gold-smuggling syndicate, and they were arrested under that Act.
September 25, 2026
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Customs seizure of suspected smuggled areca nuts and restricted poppy seeds followed intelligence-led cross-border enforcement operations.
Intelligence-led customs enforcement in Mizoram and Assam resulted in seizure, under the Customs Act, 1962, of suspected foreign-origin areca nuts and poppy seeds believed on preliminary inquiry to have been smuggled from Myanmar. Searches of locked, unattended godowns near the Indo-Myanmar border recovered the commodities, while interception of two trucks carrying poppy seeds without valid import documents led to seizure of the consignments and vehicles. Four persons connected with transportation of the poppy seeds were arrested.
September 25, 2026
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Industrial control system cybersecurity certification validates system-level protection across wind farm controls, networks, and lifecycle security services.
IEC 62443-3-3 Security Level 2 certification applies to a wind farm control system covering SCADA, PPC, PLC and industrial network devices. It assesses system-level security requirements, including the interaction of components, networks and security mechanisms within an overall industrial control environment. The cybersecurity framework also spans secure development, certified core control components, system-level protection, and security integration and maintenance services across the lifecycle of wind energy technologies.
September 25, 2026
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Foreign exchange reserve composition reflects a weekly decline driven by foreign currency assets despite a modest gold increase.
India's foreign exchange reserves declined by USD 14.881 billion to USD 765.901 billion for the week ended 18 September 2026. The contraction was principally driven by a reduction in foreign currency assets, which also reflect valuation effects from movements in non-US reserve currencies. Gold reserves increased, while Special Drawing Rights decreased and the reserve position with the International Monetary Fund remained reported separately.
September 25, 2026
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Five-day banking proposal remains under consideration amid strike plans and measures for uninterrupted banking and advance disbursements.
Five-day banking remains under governmental consideration, with no Finance Ministry commitment to implementation. Unions linked the proposal to the 12th Bipartite Settlement/9th Joint Note, which contemplated extended Monday-to-Friday working hours. Family pension revision and a pension option for resignees were identified as addressed, while withdrawal of the Performance Linked Incentive scheme remains in abeyance. Public sector banks were instructed to remain open on the preceding Sunday, and central government salaries, wages and pensions were directed to be disbursed in advance.
September 25, 2026
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Alternative fuel transition promotes ethanol, electric and hydrogen mobility to reduce imports, pollution, and strengthen farm income.
Alternative-fuel and public-transport measures seek to reduce dependence on imported petroleum, curb air pollution, and support farmer income and employment. Ethanol is positioned as a farm-income source through increased demand and returns for maize growers, alongside electricity, hydrogen and waste-derived CNG. Development and introduction of flex-fuel vehicles, using engines capable of operating on ethanol, electric tractors, hydrogen-powered vehicles and hydrogen buses form part of a cleaner-mobility strategy.
September 25, 2026
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Foreign-exchange market intervention expectations supported rupee appreciation amid improved risk sentiment, while importer demand and crude prices constrained gains.
Foreign-exchange market conditions supported a 19-paise appreciation of the rupee to 95.80 against the US dollar, aided by improved global risk sentiment and expectations of Reserve Bank intervention. Dollar demand from importers, high crude prices and US dollar strength constrained gains. Lower crude prices and dollar weakness could support the rupee, while geopolitical escalation may create pressure. Market participants expected intervention if the currency weakened toward 96.
September 25, 2026
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Credit health assessment combines score, repayment history, utilisation, accounts and enquiries to support informed borrowing and profile monitoring.
Credit health is broader than a numerical credit score and encompasses the way credit has been managed over time. Credit analysis requires a combined review of the score, repayment history, credit accounts, credit utilisation, credit history and credit enquiries. A credit report may identify management of EMIs and credit-card dues, existing borrowing obligations, use of revolving credit relative to available limits, and recent lender checks associated with credit applications. Incorrect or unfamiliar entries may be reviewed and, where necessary, raised with the relevant lender or credit bureau.
September 25, 2026
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Fuel-price mitigation measures use tax reductions, targeted subsidies and energy-security policies to ease pressure on households and energy-intensive industries.
European fuel-price intervention combines targeted subsidies, fuel-tax reductions, temporary regulatory flexibilities and energy-security investment to moderate the economic effects of sharply higher gasoline and diesel prices caused by disrupted supplies. Member States have temporary discretion to grant state aid to households and energy-intensive sectors, including agriculture, transport and fishing, and limited flexibility under EU spending rules for investments that improve energy security and reduce dependence on imported fossil fuels.
September 25, 2026
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AI management certification anchors responsible lifecycle governance, transparency, accountability, security, and human oversight for agentic loyalty systems.
ISO/IEC 42001:2023 certification applies to an Artificial Intelligence Management System governing AI development, deployment, oversight and continual improvement within the GRAVTY platform. The framework supports AI-related risk management, responsible governance, transparency, accountability, security and human oversight throughout the AI lifecycle. Its scope includes supervised and unsupervised learning models and large language models supporting personalised engagement, fraud management, loyalty intelligence, autonomous decision-making, operational automation and workflow support.
September 25, 2026
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Digital warehousing controls propose electronic tracking, secure transport, monthly returns, and risk-based compliance verification for warehoused goods.
Draft Warehousing Operations Regulations, 2026 would require public and private warehouse licensees to use the electronic portal and a digital warehouse management system for receipt, storage, transfers, removals and accounting of warehoused goods. Transport would generally require a one-time-lock and transit-risk insurance, subject to specified exemptions. Licensees would verify locks and goods, report discrepancies, maintain auditable electronic records, submit monthly returns, and permit removals for home consumption or export only upon electronic clearance orders. Non-confirmation, discrepancies and contraventions would trigger information demands, risk-based verification and action under the Customs Act.
September 25, 2026
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Technology risk governance requires banks to retain accountability, test resilience, and govern artificial intelligence before scaling financial services.
Technology risk governance must treat technology architecture as a first-order enterprise risk, alongside conventional financial risks, because the availability and integrity of core banking, payments, onboarding, credit, fraud-monitoring and reporting systems determine whether customers can access essential financial services. Banks may outsource technology functions but retain accountability for access controls, concentration, recoverability, data protection and exit options. Effective resilience requires secure architecture, asset visibility, timely remediation of vulnerabilities and legacy systems, identity and access management, effective controls, third-party oversight, post-incident learning, and regular recovery testing.
September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.

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CJI Gavai leaves behind rich legacy of prodigious verdicts on waqf, wildlife, climate

November 21, 2025

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New Delhi, Nov 21 (PTI) Justice Bhushan Ramkrishna Gavai, the 52nd Chief Justice of India, has left behind a rich legacy of prodigious verdicts during his six-month tenure including those that stayed key provisions of the waqf law, struck down the tribunal reforms statute and allowed the Centre to grant post facto green nods to projects.

Friday was the last working day of CJI Gavai, the first Buddhist and the second Dalit after K G Balakrishnan to head the Indian judiciary.

He remained unfazed and calm while suffering the unprecedented and shocking incident of an elderly lawyer hurling a shoe towards him in his courtroom on October 6, apparently over his purported remarks on Lord Vishnu in one of the earlier proceedings.

The attempt by lawyer Rakesh Kishore, who was suspended promptly, sparked widespread condemnation and even Prime Minister Narendra Modi spoke to the CJI and said the attack was "reprehensible" and it angered every Indian.

The CJI, who will demit office on November 23, a Sunday, has delivered over 400 verdicts during his over two-decade tenure as a high court and the top court judge.

In an interim verdict, he put on hold a few key provisions of the Waqf (Amendment) Act, 2025, including a clause that only those practising Islam for the last five years could create a waqf, but refused to stay the entire law outlining the presumption of constitutionality in its favour.

In one of the major verdicts, a five-judge bench led by Justice Gavai held on Thursday that the court cannot impose any timelines on governors and the president to grant assent to bills passed by state assemblies but at the same time said governors do not have "unfettered" powers to sit on the bills for "perpetuity".

Justice Gavai-led bench also set aside two major key verdicts of the top court.

In one of such verdicts, the top court, by a 2:1 majority, recalled its May 16 judgment that had prohibited the Centre from granting retrospective green clearances to projects found violating environmental norms.

In another verdict, Justice Gavai-led bench upheld JSW Steel's Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains on a prolonged legal battle that spanned nearly eight years. It recalled the earlier verdict of Justice Bela M Trivedi, also retired, by which BPSL was to be liquidated.

He also authored many verdicts aimed at protecting wildlife, hills and the environment.

He directed the Jharkhand government to notify 126 compartments in the Saranda forest area as a wildlife sanctuary within three months, and prohibited any mining activity within a one-km radius of its boundary.

He also asked the government to declare 31,468.25 hectares as Saranda Wildlife Sanctuary.

In his last judgment, delivered on Thursday and which was aimed at safeguarding the world's oldest mountain systems, his bench accepted a uniform definition of the Aravali Hills and Ranges and banned the grant of fresh mining leases inside its areas spanning Delhi, Haryana, Rajasthan and Gujarat.

CJI Gavai-led bench issued a slew of pan-India directions asking the state governments to notify eco-sensitive zones around all tiger reserves, including buffer and fringe areas, within one year, and enforced a complete ban on mining activities within one km of core or buffer zones.

It also directed the Uttarakhand government to undertake comprehensive restoration measures, demolish unauthorised constructions and remedy the destruction caused by illegal tree felling inside the Jim Corbett Tiger Reserve.

On judicial reforms, a constitution bench led by him held that judicial officers who have completed seven years of practice as advocates before joining the bench can be considered for appointment as district judges against vacancies reserved for members of the Bar.

He also barred fresh law graduates from appearing in the entry-level judicial services examination, fixing a minimum three-year law practice criterion.

A bench led by CJI Gavai struck down key provisions of the 2021 Tribunals Reforms law related to appointment, tenure and service conditions of tribunal members and presiding officers, saying "Parliament cannot simply override judicial decision by reenacting" these with minor tweaks.

Rising from humble beginnings to the highest judicial office of the land, Justice Gavai belongs to a village in Maharashtra's Amravati district.

Born on November 24, 1960 in Amravati, he is the son of R S Gavai, a career politician who started the Republican Party of India (Gavai).

Elevated as a judge of the top court on May 24, 2019, Justice Gavai was part of a five-judge constitution bench which in December 2023 unanimously upheld the Centre's decision to abrogate provisions of Article 370 bestowing special status to the erstwhile state of Jammu and Kashmir.

Another five-judge constitution bench, of which Justice Gavai was a part, annulled the electoral bonds scheme for political funding.

Justice Gavai was part of a seven-judge constitution bench, which by a 6:1 majority held that states are constitutionally empowered to make sub-classifications within the Scheduled Castes, which form a socially heterogeneous class, for granting reservation for the uplift of castes that are socially and educationally more backward among them.

He penned a landmark verdict laying down pan-India guidelines on demolition and said no property should be demolished without a prior showcause notice and the affected must be given 15 days to respond.

He was elevated as an additional judge of the Bombay High Court on November 14, 2003. He became a permanent judge of the high court on November 12, 2005. PTI SJK SJK KSS KSS

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