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September 4, 2026
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Money laundering allegations over fraudulent marriage-assistance disbursements prompted investigation into false credentials and ineligible beneficiary payments.
Alleged money laundering arose from fraudulent disbursement of marriage-assistance funds intended for daughters of registered construction workers. The allegations include approvals and releases for suspicious marriage cases, use of bank accounts opened or misused on false credentials, multiple cash withdrawals, and extension of benefits to ineligible persons. Investigation under the Prevention of Money Laundering Act followed an economic-offences FIR concerning suspected misuse of the welfare scheme.
September 4, 2026
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September 4, 2026
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Foreign exchange market conditions supported rupee appreciation, while oil prices and geopolitical tensions limited potential gains.
Foreign exchange market conditions supported the rupee's appreciation by 8 paise to 94.43 against the US dollar, aided by positive domestic equity markets, improved risk appetite, foreign capital inflows and foreign institutional buying. Reserve Bank of India intervention was also cited as support. Elevated crude oil prices, safe-haven dollar demand and United States-Iran tensions were identified as factors limiting further gains. India's foreign exchange reserves increased to a new all-time high during the relevant reporting week.
September 4, 2026
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Offer-for-sale IPO clearance enables existing exchange shareholders to monetise holdings, while sale proceeds remain outside the exchange.
Regulatory clearance permits the National Stock Exchange to proceed with an initial public offering structured wholly as an offer for sale by existing shareholders. The proposed issue does not raise fresh capital, and sale proceeds will accrue to the selling shareholders rather than the exchange. Revised offer documents were required after addition of a selling shareholder, triggering a fresh public-feedback period. The offering follows settlement of co-location and dark-fibre matters and governance and compliance measures addressing regulatory concerns.
September 4, 2026
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Equity market resilience was tempered by profit booking, geopolitical tensions, global rate expectations and domestic liquidity.
Equity markets registered a recovery after four consecutive losing sessions, led by buying in metal, private banking, oil and gas, housing finance, telecommunication, insurance, commodities and financial services shares. The benchmark equity index closed higher, while the broader index recorded a modest gain after retreating from an intraday level above the psychological threshold during the newly introduced Closing Auction Session. Investor sentiment was supported by easing interest-rate concerns, strong earnings momentum, resilient economic growth and domestic demand, but was constrained by profit booking, geopolitical tensions and crude-oil price risks.
September 4, 2026
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Forex reserve management reflects rising foreign currency assets and gold holdings, alongside marginal declines in SDRs and IMF reserve position.
India's foreign exchange reserves increased to a fresh all-time high, supported principally by higher foreign currency assets and gold reserves. Reserve accumulation has continued after concessional foreign-exchange swap initiatives introduced amid local-currency depreciation. Foreign currency assets, expressed in United States dollar terms, also reflect valuation effects from movements in currencies such as the euro, pound and yen. Special drawing rights and the reserve position with the International Monetary Fund declined marginally.
September 4, 2026
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IPO regulatory clearance enables further public issue preparations, with existing shareholders proposing a complete offer for sale.
SEBI's final observations on the proposed initial public offering enable the National Stock Exchange to undertake further public-issue preparations, subject to applicable regulatory requirements. The proposed issue is structured entirely as an offer for sale, under which existing shareholders would divest a portion of their holdings rather than the exchange issuing new shares. The draft red herring prospectus contemplates sale of 14.89 crore shares, representing nearly 6 per cent of the exchange's stake.
September 4, 2026
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Personal security frameworks evolved from elite guards into intelligence-led protection systems, while VIP culture can distort their necessity.
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September 4, 2026
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Rupee exchange-rate movement reflects foreign-currency deposit inflows, central-bank intervention, oil-price risks and changing market risk appetite.
Foreign-exchange liquidity measures, including a special central-bank programme for foreign-currency deposits, generated substantial inflows that supported the rupee. Inflows from foreign-currency deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened market conditions. Rupee appreciation was also supported by foreign equity inflows and risk appetite, but remained vulnerable to higher crude-oil prices, US-Iran tensions, safe-haven demand for the US dollar and possible disruption to oil flows through the Strait of Hormuz.
September 3, 2026
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September 3, 2026
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Unauthorised toll collection apps allegedly generated fake receipts, concealed non-FASTag collections, and triggered a money-laundering investigation.
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Economic offence investigations: cross-border training strengthens officers' practical skills in investigation, prosecution, procedures, and handling complex financial crimes.
Capacity-building training under the Indian Technical and Economic Cooperation programme equipped officers from member countries with practical skills for investigating economic offences. It covered varied forms of financial and economic crime, cross-border impact, challenges in investigation and prosecution, standard operating procedures, and investigative best practices. The specialised law-enforcement engagement aims to strengthen international cooperation and investigative capacity in economic-offence matters.
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Unauthorised Aadhaar credential use triggers blacklisting and procurement debarment following alleged post-termination enrolment and update transactions.
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FCNR(B) deposits strengthen foreign-exchange liquidity and support rupee appreciation alongside foreign portfolio inflows into government securities.
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Electric vehicle adoption can reduce transport import dependence while domestic battery manufacturing increases projected long-term savings.
Electric-vehicle adoption across road-transport segments is projected to reduce dependence on imported petrol and diesel, notwithstanding continuing battery imports. Accelerated electrification could reduce vehicle-related import expenditure substantially by 2050 because reduced oil imports are expected to exceed battery-import costs. Domestic cell-manufacturing capacity may further increase savings by combining rapid vehicle electrification with battery localisation.
September 3, 2026
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Women's livelihood credit access will extend beyond self-help groups through standardised loan formalities and coordinated banking support.
Women's access to credit for livelihood expansion is to extend beyond Self-Help Groups to individual women members. Loan accessibility concerns include distance from bank branches, repeated visits to complete formalities, and inconsistent banking procedures. Regular State Rural Livelihood Mission meetings, bank participation, training, helplines, process improvements and coordination with bankers are intended to reduce barriers. Loan formalities are to be standardised across banks through a uniform process involving RBI and NABARD.
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Industrial development facilitation extends beyond allocation of industrial plots to infrastructure development, services, and a favourable business environment. Industry-support policies seek to encourage participation by entrepreneurs, promote growth across sectors, and improve investment conditions without distinction between small and large enterprises. Dry-port infrastructure strengthens national and international trade connectivity, supporting import and export expansion for industrial and agro-based businesses.
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Regulated fintech infrastructure recognition highlights integrated payment, identity and collections capabilities across embedded financial product delivery.
Decentro operates an integrated fintech infrastructure platform combining payment acceptance, identity verification, banking and AI-led collections through a unified integration layer. It holds Payment Aggregator authorisations for online and physical payments, a Payment Service Provider licence through its GIFT City entity, and certification for offline identity-verification workflows. These capabilities support embedded financial products, payment acceptance, lending collections and related financial workflows for enterprise users.
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September 3, 2026
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Debenture trusteeship fee fixing constitutes cartelisation by constraining independent pricing and restricting service availability in the market.
Collective minimum-fee fixing for debenture trusteeship services prevented trustees from making independent commercial pricing decisions and constituted cartelisation. Prescription of a benchmark fee limited and controlled the supply or market for such services by directing association members and non-members not to serve debenture issuers below that fee. The conduct contravened Section 3(3)(a) and Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002.

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Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurates 18th \ plenary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes.

December 3, 2025

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India is the host for the 18th Global Forum Plenary being held in New Delhi

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the 18th plenary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, in New Delhi, today.

India is hosting the 18th Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in New Delhi from 2nd to 5th December 2025, under the theme “Tax Transparency: Delivering a Shared Vision Through International Cooperation”.

The Global Forum, with 172 member jurisdictions, is the world’s leading body for the implementation of international standards on tax transparency — namely the Exchange of Information on Request (EOIR) and the Automatic Exchange of Financial Account Information (AEOI), including all G20 countries. Its work plays a central role in combating tax evasion and illicit financial flows globally.

The opening ceremony was also attended by Shri Pankaj Chaudhary, Union Minister of State for Finance, Shri Arvind Shrivastava, Secretary, D/o Revenue, Ministry of Finance, Mr. Gaël Perraud, Chair of the Global Forum.

In her inaugural address, Union Finance Minister Smt. Nirmala Sitharaman welcomed the delegates and dignitaries to India for the Plenary Meeting and highlighted the major shift in the global financial landscape from a world constrained by secrecy to one where transparency is recognized as essential to fairness and responsible governance.

The Union Finance Minister emphasised that for India, transparency touches upon the deeper principle that economic governance must rest on fairness and responsibility, and noted that transparency is not merely a compliance tool but a foundation for sustainable development, observing that when national wealth escapes legitimate taxation, it creates both a revenue and a development gap.

Smt. Sitharaman stressed that voluntary compliance has improved in India not just through enforcement, but through clarity, simplification, and a consistent effort to build trust. While acknowledging the potential of technology and AI in analyzing information, she cautioned that innovation must be balanced with judgment and unwavering respect for procedure. She concluded by asserting that trust between jurisdictions has tangible economic value and called for continued cooperation to manage emerging challenges like the digitalization of the economy and evolving structures of beneficial ownership.

Addressing the Plenary, Union Minister of State for Finance Shri Pankaj Chaudhary described the gathering as a reminder of the progress made in building a rules-based and cooperative approach to tax administration. He remarked that obtaining relevant information across borders in a timely manner has evolved from a difficulty to a practical reality, which has strengthened enforcement and improved taxpayer confidence. He advocated for a balanced approach where transparency and facilitation move forward together so that compliance becomes easier and more natural. Emphasizing that inclusivity is an operating principle rather than just a slogan, he called for continued capacity building and technical guidance for developing countries. He further noted that standards must evolve to address the digitalization of commerce and new asset classes while maintaining confidentiality and fairness.

In his address, Shri Arvind Shrivastava, Secretary, D/o Revenue, termed the Global Forum one of the most successful examples of multilateral cooperation, noting the transformation from banking secrecy to global transparency standards. He highlighted that since 2017, India has successfully implemented the Automatic Exchange of Information standard, utilizing secure IT systems and data analytics to transform information into actionable intelligence. He pointed out that domestic measures such as the Black Money Act and the Benami Transactions Act, used alongside international cooperation, have helped secure the integrity of the tax base. Reaffirming India’s commitment to South-South cooperation, he stated that the benefits of transparency must be equitably distributed. He concluded by identifying digital economy taxation and crypto-asset reporting frameworks as urgent priorities for the next phase of collective action.

ABOUT THE PLENARY

The Global Forum Plenary is the sole decision-making body of the Global Forum and brings together all member jurisdictions, international organisations and development partners. Each jurisdiction participates on an equal footing, and decisions are generally reached through consensus. The Plenary is held annually to take stock of progress on the implementation of tax transparency standards — EOIR and AEOI — and to determine the priorities for future work.

The Plenary includes high-level panel discussions, updates from the peer review processes, regional initiatives (Africa, Asia and Latin America), presentations on the annual work programme, and work relating to the Crypto-Asset Reporting Framework (CARF) and the Group on Risk. Participation typically includes heads of tax administrations and Competent Authorities, with several jurisdictions represented at the ministerial level on the opening day.

As a founding member since 2009, India has played an active leadership role in the Global Forum and currently holds key positions in the Steering Group, the Peer Review Groups for both EOIR and AEOI, the Group on Risk and the CARF Group. India also served as Co-Chair of the Asia Initiative for 2023–24 and has supported capacity-building for developing jurisdictions through seminars, training programmes and regional consultations.

INDIA’S COMMITMENT

India will reaffirm its strong commitment to tax transparency and international cooperation. During its G20 Presidency in 2023, India promoted an inclusive vision for global tax transparency that led to substantive work on the wider use of exchanged information for compliance and risk assessment, and increased participation of developing jurisdictions in AEOI under the Common Reporting Standard (CRS). These initiatives have since matured into ongoing work programmes under the Global Forum and the OECD.

Across its sessions over the coming days, the Plenary will focus on strengthening implementation, enhancing administrative capacity and ensuring that the benefits of transparency are accessible to all jurisdictions — irrespective of size or administrative capacity.

India welcomes all delegates to New Delhi and looks forward to constructive deliberations that strengthen mutual trust and advance the goal of a fair, transparent and inclusive international tax system.

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