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    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
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September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.

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Fire-hit Goa nightclub was built illegally on salt pan, operated without licence: Probe report

December 31, 2025

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Panaji, Dec 31 (PTI) The Goa nightclub, where a deadly fire killed 25 people in early December, was built illegally on salt pan and allowed to operate without a valid trade licence, pointing to serious lapses and collusion at multiple official levels, said a government-constituted magisterial inquiry's report.

The probe report, made public on Wednesday, noted the ill-fated structure stood in the middle of a salt pan and was "not permissible under any law".

The 'Birch by Romeo Lane' nightclub, located in Arpora village in North Goa, continued to run illegally without a valid licence and no action was taken by the local panchayat to seal the property, said the report.

According to a police report cited in the inquiry, ordered by the state government after the tragedy, fireworks were organised at the establishment "without taking proper care and caution" and without adequate fire safety equipment, triggering the blaze on December 6 night.

The report, placed before a review meeting chaired by Chief Minister Pramod Sawant in the presence of senior officials, states that the revised site sketch "depicts the hexagonal structure at the middle of salt pan/water body." "This clearly establishes that the structure is situated at the middle of the salt pan/water body which is not permissible to be erected under any law in force either now or earlier. Converting salt pan is in violation of Section 32 of Land Revenue Code as well as Coastal Zone Regulations," it observed.

The state government on Wednesday released the entire report to the media.

The inquiry recorded that the village panchayat of Arpora Nagoa issued an establishment licence on December 16, 2023, to "Being GS Hospitality Goa Arpora LLP" for running a bar and restaurant-cum-nightclub, valid until March 31, 2024. The licence was not renewed thereafter.

"The premises continued to run illegally without a valid trade licence and no action was taken by the Village Panchayat to seal the property," said the report and added that Section 72-A of the Goa Panchayat Raj Act empowers sealing of premises running trade without licence.

Panchayat secretary Raghuvir Bagkar admitted in his statement before the probe panel that although he was aware he had not renewed the trade licence, he had "not informed any other line department who have relied on trade licence issued by the Panchayat and granted their permissions/licences." According to the report, village sarpanch Roshan Redkar admitted before the magistrate heading the probe that the Panchayat neither sealed the premises nor informed departments concerned regarding cancellation of the nightclub's licences.

"Therefore, it establishes their collusion with the owners of this property in keeping the restaurant running illegally," the report noted, adding conduct rules were violated.

The inquiry flagged alleged forgery and procedural violations in the application for the 2023 licence, observing entries such as "H No 502/1-RT8; Bar & nightclub" appeared added later in different ink, and several mandatory documents, including approved plans, photographs and land records, were missing.

According to the report, the application was received on December 11, 2023, and the village panchayat passed a resolution on December 14, 2023, granting approval. The final certificate was issued to the nightclub operator on December 16, 2023, in a hastily manner.

In his statement before the probe panel, the Panchayat Secretary admitted, "I have not checked the house number while giving trade licence to the restaurant in the hexagonal structure which was valid for one year." The magisterial inquiry report mentioned that multiple complaints between January 2024 and December 2025 on noise pollution and parking (at the nightclub) were recorded, but were repeatedly closed with remarks "nothing found on the spot".

It highlighted non-compliance with directions of the Bombay High Court at Goa regarding inspections and night patrolling in the area.

According to a police report cited in the inquiry, fireworks at the nightclub were organised "without taking proper care and caution" and without adequate safety equipment, triggering the blaze that killed 25 people, including tourists and staffers of the establishment.

The club lacked emergency exits at both ground and deck floors and was operating without valid permissions, said the magisterial inquiry's report.

The investigation allegedly revealed forged police clearance documents and tampering of licence instruments to insert a house number.

The case related to the fire is being probed under multiple Bharatiya Nyaya Sanhita (BNS) sections, including 105 (culpable homicide not amounting to murder), 125 (acts endangering life or personal safety of others due to rashness or negligence), 287 (negligent conduct with respect to fire or combustible matter), 338 (forgery of valuable documents) and 61(2) (criminal conspiracy), among others.

Police have so far arrested eight persons, including three owners of the nightclub. Those arrested included Delhi-based businessmen and brothers Saurabh and Gaurav Luthra, who co-owned the nightclub. The siblings fled to Thailand just hours after the tragedy and were deported to India on December 17.

Five Goa government officials have been suspended so far in connection with the nightclub fire.

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