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    Stocks fall on Wall Street after Powell says Trump trying to undermine the Fed's independence
    General Budget on Sunday, February 1: LS Speaker Om Birla
    Public sector banks appeal against stay on fraud classification proceedings against Anil Ambani
    Rupee pares early losses, ends 1 paisa higher at 90.17 against US dollar
    Bangalore airport sees 8 pc rise in passenger traffic to 43.82 mn in 2025
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January 12, 2026
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Federal Reserve subpoena threat risks undermining central bank independence and rattling financial markets, raising borrowing cost concerns.
The Department of Justice served subpoenas on the Federal Reserve and threatened a criminal indictment over Chair Powell's testimony about Fed building renovations, a move Powell called a pretext to undermine central bank independence; markets reacted with equity declines, rising Treasury yields, and sharp losses among bank and credit card stocks, while political proposals and statements intensified regulatory uncertainty for financial institutions.
January 12, 2026
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Union Budget presentation scheduled for February 1; Economic Survey to follow the presidential address, with committee scrutiny planned.
The Union Budget will be presented in Parliament on February 1, officially designated as Budget Day. The Finance Minister will deliver the General Budget in the Lok Sabha, and the Economic Survey is expected to be presented in both Houses following the President's address. The parliamentary calendar provides sittings and a recess expressly to permit committee scrutiny and detailed legislative consideration of Budget proposals.
January 12, 2026
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Public sector banks appeal stay on fraud classification after dispute over forensic audit qualifications and seek quashing of interim order
Three public sector banks appealed an interim order staying their action to classify accounts as fraud classification, contending a BDO LLP forensic audit validly found fund siphoning and misutilisation justifying classification; Ambani had challenged the audit's validity based on auditor qualification and secured a stay on the banks' actions as allegedly violating RBI guidelines, and the banks seek to quash that interim order to enable enforcement of remedial measures.
January 12, 2026
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Rupee edges higher as weak dollar and trade talks offset RBI reported decline in forex reserves.
Rupee settled marginally higher at about 90.17 per US dollar, supported by a weaker dollar, falling crude prices and progress on US India trade talks, while geopolitical volatility limited gains. The Reserve Bank of India reported a USD 9.809 billion decline in forex reserves to USD 686.801 billion, a regulatory datum watched for its implications on market liquidity and intervention under the FEMA/RBI framework.
January 12, 2026
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Bangalore airport reported 8% passenger growth to 43.82 million and expanded international connectivity in 2025.
Bangalore International Airport recorded an 8% rise in passenger traffic to 43.82 million in 2025 and a 5% increase in cargo throughput to 520,985 metric tonnes, with sustained growth in flight activity, expanded international departures and network reach to 113 passenger and 37 cargo destinations, prompting BIAL to prioritise further connectivity, airline partnerships and capacity scaling.
January 12, 2026
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Reclaimed Mumbai Coastal Road land must remain open to the public; no residential or commercial development permitted.
Reclaimed land along the Mumbai Coastal Road (South) is to remain ordinarily open for public use, with exceptions only for specific development or maintenance activities; the reclaimed areas, including portions proposed for corporate social responsibility landscaping, must not be used for residential or commercial purposes now or in the future, while landscaping of the promenade and medians and targeted upkeep remain permitted.
January 12, 2026
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ASME Foundation India will host EFx India 2026 at LNMIIT Jaipur from Jan 16-18, 2026.
ASME Foundation India will host EFx India 2026 at the LNM Institute of Information Technology, Jaipur, from January 16-18, 2026. The three day festival brings together engineering students, academicians and industry professionals-with 55 student teams from 19 states registered-to promote innovation, hands on learning, real world problem solving and strengthened industry-student collaboration. The event is supported by GAIL and The Welding Institute (TWI) and returns to LNMIIT Jaipur after 2017.
January 12, 2026
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India-US relations focus on active trade negotiations and an invitation to a critical minerals and AI partnership.
US engagement with India focuses on finalising an active bilateral trade negotiation, with both sides "actively engaged" and a follow-up call scheduled, framing talks around economic reciprocity and fair trade standards. The ambassador also invited India to join a US-led initiative on critical minerals and artificial intelligence, positioning multilateral technology and supply-chain cooperation alongside efforts to resolve tensions arising from recent tariff and immigration measures.
January 12, 2026
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Drinking water quality in Haryana is deteriorating; calls for immediate testing, safe supply and official accountability.
Drinking water quality in Haryana is deteriorating with TDS, fluoride and nitrate levels exceeding permissible limits in many areas; contaminated supply and polluted groundwater are linked to rising stomach, bone, kidney, skin diseases and alleged cancer cases. The report asserts failure to install effective purification or alternative safe supplies, claims departmental responsibility-shifting, and demands immediate provision of safe drinking water, regular testing of sources, and accountability for officials responsible for the lapse.
January 12, 2026
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Net direct tax collections rose 8.82% to Rs18.38 lakh crore; refunds down 17% and government projects Rs25.20 lakh crore target.
Net direct tax collections rose 8.82% to Rs 18.38 lakh crore through January 11, comprising over Rs 8.63 lakh crore from corporate tax and Rs 9.30 lakh crore from non-corporates. Securities Transaction Tax receipts were Rs 44,867 crore and refunds fell 17% to Rs 3.12 lakh crore; gross direct tax collections were about Rs 21.50 lakh crore. The government projects direct tax receipts of Rs 25.20 lakh crore for fiscal 2025-26 and an STT target of Rs 78,000 crore.
January 12, 2026
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Jai Anmol Ambani must reply to a show cause notice; bank to pass a speaking order after hearing him.
The court refused to interdict the show cause notice and directed Jai Anmol Ambani to reply within ten days, appear for a personal hearing on the scheduled date, and directed the bank to, after hearing him or his authorised representative, pass a speaking order to be placed before the court; the effect of that order is to remain subject to the writ petition then pending.
January 12, 2026
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PM Surya Ghar and KUSUM schemes empower households and farmers to generate electricity and reduce dependency on free supply.
The government promotes empowerment through the PM Surya Ghar Muft Bijli Yojana, which provides means for rooftop solar while requiring partial individual cost contribution; households can consume generated power, feed surplus into the grid, and use small battery backup for continuous supply. The PM KUSUM Yojana similarly aims to empower farmers by enabling distributed solar generation, combining government support with beneficiary involvement to reduce dependence on free government electricity.
January 12, 2026
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Retail inflation rose to 1.33% in December as food and personal care prices increased, still below the RBI lower tolerance limit.
Retail consumer price inflation rose to 1.33% in December 2025, driven by higher prices in food subcomponents and personal care; food inflation remained negative at -2.71% while core inflation reached 4.6%. Urban inflation exceeded rural, headline inflation stayed below the Reserve Bank of India lower tolerance limit for the fourth consecutive month, and analysts expect CPI to rise as food deflation fades, with forthcoming revised CPI and GDP series to inform monetary policy timing.
January 12, 2026
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Coromandel International to establish Corporate Research Centre at IIT Madras Research Park for industry-academia collaboration.
A Memorandum of Understanding establishes a Corporate Research Centre at IIT Madras Research Park to formalise an industry-academia partnership for joint research programmes, technology incubation, talent development and international collaboration, enabling Coromandel to leverage IIT Madras's research infrastructure to translate science into scalable agri solutions focused on agriculture, sustainability and emerging technologies.
January 12, 2026
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ED raid on I-PAC office sparks allegations of political vendetta and calls to counter the narrative.
The article reports an Enforcement Directorate search of I-PAC premises and a director's home in a coal scam-linked money laundering probe, with accused selective targeting of the Bengal office and calls for equivalent searches of other directors. It highlights allegations of politically motivated misuse of investigative powers and records the ED's applications to the Calcutta High Court and the apex court seeking a CBI probe into alleged removal of documents from ED custody.
January 12, 2026
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Sarpanch murder arrests: seven detainees, including two shooters, arrested after inter state intelligence and forensic leads.
Seven accused, including two shooters arrested after intelligence led, inter state operations and transit remand, are linked to a pre planned, point blank killing of a village sarpanch. Investigators say an alleged gangster based abroad orchestrated the conspiracy; the shooters used forged identity documents and moved across multiple states, while five others provided logistics, shelter, weapons and transport. Police attribute the breakthrough to combined technical surveillance, human intelligence and central agency cooperation and frame the arrests within a broader campaign against organised crime and cross border fugitives.
January 12, 2026
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Youth urged to become cyber peace ambassadors to educate on AI-enabled online fraud and protect MSMEs and citizens.
The initiative urges youth to serve as cyber peace ambassadors to educate traders, MSMEs, students and citizens about AI-enabled online financial fraud and safe digital payment use, focusing on skill development, victim reporting guidance, and collaborative implementation of government cyber-fraud measures to protect budget-constrained small and medium enterprises.
January 12, 2026
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Digital banking requires supervisors and banks to prioritise operational resilience, third party oversight, AI governance and continuous supervision.
Digital banking shifts supervisory focus to operational resilience, data integrity, ecosystem concentration, cyber risk and algorithmic governance. Supervision must be technology-neutral, risk-based, proportional and forward-looking, with the supervised entity remaining accountable for outsourced activities. Core supervisory focus areas are operational resilience and cyber readiness; third-party and ecosystem dependency mapping; governance of data, models and AI (explainability and fairness); and technology-enabled continuous supervision supported by SupTech and improved data governance.
January 12, 2026
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POCSO case: court found custodial detention unnecessary after consensual elopement and allowed release with conditions.
Bail in a POCSO Act prosecution was granted after the court found no allegations of forcible sexual assault, close age proximity between the parties, affidavits from the alleged victim and her sister stating no objection, limited investigative steps and that custodial interrogation was unnecessary; release was ordered on a personal bond with surety and conditions to cooperate, not influence witnesses or tamper with evidence, notify address changes and appear during trial.
January 12, 2026
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Building an emergency fund while repaying loans means starting small, prioritising high interest debt, automating savings and cutting expenses.
Balancing emergency fund creation with loan repayment requires starting modest regular contributions while prioritising payoff of high-interest loans; continue small emergency savings to avoid new credit use, automate transfers for EMIs and savings, cut discretionary expenses to free cash, and review budgets periodically to reallocate income toward greater debt reduction or emergency contributions as circumstances change.

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General Budget on Sunday, February 1: LS Speaker Om Birla

January 12, 2026

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New Delhi, Jan 12 (PTI) In a first, Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament on Sunday, February 1, Lok Sabha Speaker Om Birla announced on Monday.

This will be Sitharaman's ninth budget presentation, one short of the record 10 budgets presented by the former finance minister Morarji Desai.

The Budget session of Parliament begins on January 28 with President Droupadi Murmu addressing the Lok Sabha and the Rajya Sabha members assembled in the Lok Sabha chamber.

Sitharaman is likely to present the Economic Survey in both the Houses of Parliament after the president's address.

According to the provisional calendar issued by the Lok Sabha Secretariat, the House will also meet on January 29.

The finance minister will present the General Budget on February 1, which has been designated as the Budget Day by the government.

Earlier, Parliamentary Affairs Minister Kiren Rijiju had said the Budget session will begin on January 28 and continue till April 2.

The first part of the session will conclude on February 13 and reconvene on March 9, allowing time for the scrutiny of Budget proposals by parliamentary committees. PTI SKU NAB KSS KSS KSS

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