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    India-New Zealand FTA to Enter into Force from 20 October 2026
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September 22, 2026
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Tariff liberalisation under the India-New Zealand FTA grants Indian exports duty-free access while protecting sensitive agricultural products.
From 20 October 2026, the India-New Zealand Free Trade Agreement applies duty-free treatment to all tariff lines covering Indian exports to New Zealand, while preserving exclusions for sensitive Indian agricultural products. Market access for New Zealand apples, kiwifruit, and Manuka honey remains subject to tariff rate quotas, minimum import prices, seasonal windows, and safeguards. Services commitments, mobility routes, investment facilitation, agricultural cooperation, and recognition of specified international inspection approvals form further components.
September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.
September 21, 2026
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Duty-free access for Indian exports under the India-New Zealand trade agreement begins with its entry into force.
The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.

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US captures Venezuela's leader, his wife in stunning operation and plans to prosecute them

January 3, 2026

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Caracas (Venezuela), Jan 3 (AP) The United States captured Venezuelan President Nicolas Maduro and flew him out of the country in a stunning military operation early Saturday that plucked a sitting leader from office — the culmination of months of escalating Trump administration pressure on the oil-rich South American nation.

Maduro and his wife, taken overnight from their home on a military base, were aboard a US warship on their way to New York, where they were to face criminal charges. The US is now evaluating next steps for Venezuela, President Donald Trump said Saturday on Fox News.

“We'll be involved in it very much," he said. “We can't take a chance in letting somebody else run and just take over what he left.” The legal authority for the attack, which echoed the 1990 US invasion of Panama that led to the surrender and seizure of leader Manuel Antonio Noriega, was not immediately clear. The US government does not recognise Maduro, who last appeared on state television on Friday while meeting with a delegation of Chinese officials in Caracas.

Maduro and other Venezuelan officials were indicted in 2020 on “narco-terrorism” conspiracy charges, but the Justice Department released a new indictment Saturday of Maduro and his wife, Cilia Flores, accusing them of a role in a narco-terrorism conspiracy.

US Attorney General Pam Bondi vowed in a social media post that the couple would “soon face the full wrath of American justice on American soil in American courts.” Trump said the couple were aboard the US warship Iwo Jima and headed to New York.

Trump, who was set to speak Saturday morning, posted on his Truth Social account a photo of Maduro blindfolded and in a sweatsuit aboard the ship.

Early morning attack --------------------------- Early Saturday, multiple explosions rang out, and low-flying aircraft swept through the Venezuelan capital. Maduro's government accused the United States of attacking civilian and military installations, calling it an “imperialist attack” and urging citizens to take to the streets.

The attack lasted less than 30 minutes, and the explosions — at least seven blasts — sent people rushing into the streets, while others took to social media to report what they'd seen and heard. Some Venezuelan civilians and members of the military were killed, said Vice President Delcy Rodríguez, without giving a number. Trump said some US forces were injured in Venezuela, but he believed none were killed.

Video obtained from Caracas and an unidentified coastal city showed tracers and smoke clouding the landscape as repeated muted explosions illuminated the night sky. Other footage showed cars passing on a highway as blasts illuminated the hills behind them. The videos were verified by The Associated Press.

Smoke was seen rising from the hangar of a military base in Caracas, while another military installation in the capital was without power.

Venezuelan ruling party leader Nahum Fernandez told The Associated Press that Maduro and Flores were at their home within the Ft Tiuna military installation when they were captured.

“That's where they bombed,” he said. “And, there, they carried out what we could call a kidnapping of the president and the first lady of the country.” Under Venezuelan law, Rodríguez would take over from Maduro. There was no confirmation that had happened, though she did issue a statement after the strike, demanding proof of life for Maduro and his wife.

The strike followed a months-long Trump administration pressure campaign on the Venezuelan leader, including a major buildup of American forces in the waters off South America and attacks on boats in the eastern Pacific and Caribbean accused of carrying drugs. Last week, the CIA was behind a drone strike at a docking area believed to have been used by Venezuelan drug cartels — the first known direct operation on Venezuelan soil since the US began strikes in September.

As of Friday, the number of known boat strikes was 35, and the number of people killed was at least 115, according to the Trump administration. Trump said that the US is engaged in an “armed conflict” with drug cartels and has justified the boat strikes as necessary to stem the flow of drugs into the US Maduro has decried the US military operations as a thinly veiled effort to oust him from power.

Some streets in Caracas fill up -------------------------------------- Venezuela's ruling party has held power since 1999, when Maduro's predecessor, Hugo Chavez, took office, promising to uplift poor people and later to implement a self-described socialist revolution.

Maduro took over when Chavez died in 2013. His 2018 reelection was widely considered a sham because the main opposition parties were banned from participating. During the 2024 election, ruling party-loyal electoral authorities declared him the winner hours after polls closed, but the opposition gathered overwhelming evidence that he lost by a more than 2-to-1 margin.

In a demonstration of how polarising a figure Maduro is, people variously took to the streets to deplore his capture and celebrate it.

At a protest in the Venezuelan capital, Caracas, Mayor Carmen Meléndez joined a crowd demanding Maduro's return.

“Maduro, hold on, the people are rising up!” the crowd chanted. “We are here, Nicolas Maduro. If you can hear us, we are here!” Earlier, armed people and uniformed members of a civilian militia took to the streets of a Caracas neighbourhood long considered a stronghold of the ruling party.

In other parts of the city, the streets remained empty hours after the attack, as residents absorbed events. Some areas remained without power, but vehicles moved freely.

“How do I feel? Scared, like everyone,” said Caracas resident Noris Prada, who sat on an empty avenue looking down at his phone. “Venezuelans woke up scared; many families couldn't sleep.” In the Chilean capital of Santiago, people waved Venezuelan flags and banged pots and pans as vehicles passed by honking at them.

In Doral, Florida, home to the largest Venezuelan community in the US, people wrapped themselves in Venezuelan flags, ate fried snacks and cheered as music played. At one point, the crowd chanted “Liberty! Liberty! Liberty!” Questions of legality --------------------------- The Armed Services committees in both houses of Congress, which have jurisdiction over military matters, have not been notified by the administration of any actions, according to a person familiar with the matter and granted anonymity to discuss it.

Lawmakers from both political parties in Congress have raised deep reservations and flat-out objections to the US attacks on boats suspected of drug smuggling near the Venezuelan coast, and Congress has not specifically approved an authorisation for the use of military force for such operations in the region.

Connecticut Rep. Jim Himes, the top Democrat on the House Intelligence Committee, said he had seen no evidence that would justify Trump striking Venezuela without approval from Congress and demanded an immediate briefing by the administration on "its plan to ensure stability in the region and its legal justification for this decision.” Deputy Secretary of State Christopher Landau said the military action and seizure of Maduro marks “a new dawn for Venezuela,” saying that “the tyrant is gone.” He posted on X hours after the strike. His boss, Rubio, reposted a post from July that said Maduro “is NOT the President of Venezuela and his regime is NOT the legitimate government.” Cuba, a supporter of the Maduro government and a longtime adversary of the United States, called for the international community to respond to what President Miguel Díaz-Canel Bermúdez called “the criminal attack.” “Our zone of peace is being brutally assaulted,” he said on X. Iran's Foreign Ministry also condemned the strikes.

President Javier Milei of Argentina praised the claim by his close ally, Trump, that Maduro had been captured with a political slogan he often deploys to celebrate right-wing advances: “Long live freedom, dammit!” (AP) SKS SKS

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