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    ED raids multiple locations in Kolkata in bank loan fraud case
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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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.

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Trump holds off on military action against Iran's protest crackdown as he 'explores' Tehran messages

January 13, 2026

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Washington, Jan 13 (AP) President Donald Trump has arrived at a delicate moment as he weighs whether to order a US military response against the Iranian government as it continues a violent crackdown on protests that have left nearly 600 dead and led to the arrests of thousands across the country.

The US president has repeatedly threatened Tehran with military action if his administration found the Islamic Republic was using deadly force against anti-government protesters.

It's a red line that Trump has said he believes Iran is “starting to cross” and has left him and his national security team weighing “very strong options.” But the US military — which Trump has warned Tehran is “locked and loaded” — appears, at least for the moment, to have been placed on standby mode as Trump ponders next steps, saying that Iranian officials want to have talks with the White House.

“What you're hearing publicly from the Iranian regime is quite different from the messages the administration is receiving privately, and I think the president has an interest in exploring those messages,” White House press secretary Karoline Leavitt told reporters Monday.

“However, with that said, the president has shown he's unafraid to use military options if and when he deems necessary, and nobody knows that better than Iran.” Hours later, Trump announced on social media that he would slap 25% tariffs on countries doing business with Tehran “effective immediately” — his first action aimed at penalising Iran for the protest crackdown, and his latest example of using tariffs as a tool to force friends and foes on the global stage to bend to his will.

China, the United Arab Emirates, Turkey, Brazil and Russia are among economies that do business with Tehran. The White House declined to offer further comment or details about the president's tariff announcement.

The White House has offered scant details on Iran's outreach for talks, but Leavitt confirmed that the president's special envoy Steve Witkoff will be a key player engaging Tehran.

Trump told reporters Sunday evening that a “meeting is being set up” with Iranian officials but cautioned that “we may have to act because of what's happening before the meeting.” “We're watching the situation very carefully,” Trump said.

Demonstrations in Iran continue, but analysts say it remains unclear just how long protesters will remain on the street.

An internet blackout imposed by Tehran makes it hard for protesters to understand just how widespread the demonstrations have become, said Vali Nasr, a State Department adviser during the early part of the Obama administration, and now professor of international affairs and Middle East studies at Johns Hopkins University.

“It makes it very difficult for news from one city or pictures from one city to incense or motivate action in another city,” Nasr said. “The protests are leaderless, they're organization-less. They are actually genuine eruptions of popular anger. And without leadership and direction and organization, such protests, not just in Iran, everywhere in the world — it's very difficult for them to sustain themselves.” Meanwhile, Trump is dealing with a series of other foreign policy emergencies around the globe.

It's been just over a week since the US military launched a successful raid to arrest Venezuela's Nicolás Maduro and remove him from power. The US continues to mass an unusually large number of troops in the Caribbean Sea.

Trump is also focused on trying to get Israel and Hamas onto the second phase of a peace deal in Gaza and broker an agreement between Russia and Ukraine to end the nearly four-year war in Eastern Europe.

But advocates urging Trump to take strong action against Iran say this moment offers an opportunity to further diminish the theocratic government that's ruled the country since the Islamic revolution in 1979.

The demonstrations are the biggest Iran has seen in years — protests spurred by the collapse of Iranian currency that have morphed into a larger test of supreme leader Ayatollah Ali Khamenei's repressive rule.

Iran, through the country's parliamentary speaker, has warned that the US military and Israel would be “legitimate targets” if Washington uses force to protect demonstrators.

Some of Trump's hawkish allies in Washington are calling on the president not to miss the opportunity to act decisively against a vulnerable Iranian government that they argue is reeling after last summer's 12-day war with Israel and battered by US strikes in June on key Iranian nuclear sites.

Senator Lindsey Graham said on social media Monday that the moment offers Trump the chance to show that he's serious about enforcing red lines.

Graham alluded to former Democratic President Barack Obama in 2012 setting a red line on the use of chemical weapons by Syria's Bashar Assad against his own people — only not to follow through with US military action after the then-Syrian leader crossed that line the following year.

“It is not enough to say we stand with the people of Iran,” Graham said. “The only right answer here is that we act decisively to protect protesters in the street — and that we're not Obama — proving to them we will not tolerate their slaughter without action.” Former Republican House Speaker Newt Gingrich, another close Trump ally, said the “goal of every Western leader should be to destroy the Iranian dictatorship at this moment of its vulnerability.” “In a few weeks either the dictatorship will be gone or the Iranian people will have been defeated and suppressed and a campaign to find the ringleaders and kill them will have begun,” Gingrich said in an X post. “There is no middle ground.” Indeed, Iranian authorities have managed to snuff out rounds of mass protests before, including the “Green Movement” following the disputed election in 2009 and the “woman, life, freedom” protests that broke out after 22-year-old Mahsa Amini died in custody of the state's morality police in 2022.

Trump and his national security team have already begun reviewing options for potential military action and he is expected to continue talks with his team this week.

Behnam Ben Taleblu, senior director of the Iran program at the Foundation for Defense of Democracies, a hawkish Washington think tank, said “there is a fast-diminishing value to official statements by the president promising to hold the regime accountable, but then staying on the sidelines.” Trump, Taleblu noted, has shown a desire to maintain “maximum flexibility rooted in unpredictability” as he deals with adversaries.

“But flexibility should not bleed into a policy of locking in or bailing out an anti-American regime which is on the ropes at home and has a bounty on the president's head abroad,” he added. (AP) SCY SCY

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