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    India–Nepal Inter-Governmental Sub-Committee on Trade, Transit and Cooperation to Control Unauthorised Trade Meets in New Delhi
    OnEMI Technology Solutions Limited’s Board Approves Fundraise of approximately ₹832 Crore through a Preferential Issue of Securities
    CGST Delhi South officers bust firm in fraudulent availment of ITC involving over Rs. 25.22 crore; proprietor arrested
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September 18, 2026
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Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
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Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
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Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
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Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
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Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
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Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.
September 18, 2026
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Direct tax collections reflect stronger advance tax payments, alongside increased corporate tax, securities transaction tax, and refund issuance.
Net direct-tax collections exceeded Rs 12.12 lakh crore through 17 September, reflecting 13 per cent growth following increased advance-tax receipts. Gross direct-tax collections exceeded Rs 14.32 lakh crore, while refunds exceeded Rs 2.20 lakh crore. Corporate-tax and non-corporate tax collections increased, as did Securities Transaction Tax collections. Advance-tax receipts exceeded Rs 5.22 lakh crore, comprising increased corporate advance tax and non-corporate advance tax payments.
September 18, 2026
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Upper-layer NBFC listing compliance sharpens corporate governance conflict over public accountability, shareholder liquidity, and preservation of private ownership.
Tata Sons' status as an upper-layer non-banking financial company has brought its proposed public listing into focus after the Reserve Bank of India rejected its application to voluntarily surrender core investment company registration. Tata Sons is required to take steps to comply with the enhanced regulatory framework applicable to upper-layer NBFCs, which includes stock-market listing. Classified in 2022, Tata Sons did not meet the original listing deadline and had pursued deregistration after repaying debt.
September 18, 2026
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Upper-layer NBFC compliance places Tata Sons on a listing-oriented path emphasising transparency, governance, shareholder visibility, and philanthropic continuity.
Reserve Bank of India rejection of Tata Sons' application to surrender its core investment company registration requires compliance with the upper-layer non-banking financial company regulatory framework. The resulting regulatory path is associated with public listing. Shapoor Mistry supports listing as a means to enhance transparency, shareholder visibility, and corporate governance accountability, while potentially clarifying the holding company's value and supporting a durable flow of value towards charitable activities without compromising Tata's philanthropic mission.
September 18, 2026
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Duty-free market access will cover all covered exports upon entry into force under the bilateral free trade agreement.
Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.
September 18, 2026
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Competition clearance for additional shareholding acquisition facilitates increased investment in Azure Power's renewable energy business by OMERS Infrastructure.
Competition approval has been granted for a proposed combination involving OMERS Infrastructure Asia Holdings Pte. Ltd.'s acquisition of certain additional shareholding in Azure Power Global Limited from CDPQ Infrastructures Asia Pte. Ltd. Azure Power Global Limited is the parent entity of the Azure group, which establishes and operates renewable energy plants and sells solar power in India.
September 18, 2026
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Competition approval for interconnected acquisitions enables shared equity acquisition in Great White and sole control acquisition in ITVIS.
Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.
September 18, 2026
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Competition approval for acquiring three Royals franchises covers cross-border professional cricket franchise ownership interests and related transaction arrangements.
Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.
September 17, 2026
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Sanctions bill permits punitive tariffs on oil and gas trading partners, raising energy-market and bilateral relationship concerns.
United States sanctions bill concerning Russia would authorize the President to impose sanctions on Russia and punitive tariffs of up to 100 per cent on nations importing Russian crude oil. The tariff mechanism may affect oil and gas trading partners, bilateral relations and global energy markets, with concern expressed over its implications for energy trade.
September 17, 2026
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Secondary sanctions on Russian energy trade could expose major crude importers to punitive tariffs and economic pressure.
Congressional legislation targeting Russia and Iran would authorise sanctions against Russia's leadership, energy sector, and vessels facilitating evasion of oil-delivery restrictions. It would also permit punitive tariffs of up to 100 per cent on leading trading partners continuing to import Russian oil and gas. India has identified possible effects on bilateral economic relations and the international energy market, while maintaining that diversified sourcing is necessary for energy security and that its trade and economic interests will be protected.
September 17, 2026
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Trust-nominated director consent shapes the contested chairmanship reappointment as regulatory classification renews pressure to consider a stock-market listing.
Validity of the reappointment is therefore contested under the company's internal governance framework despite the majority board vote, and the appointment is expected to be considered for ratification at the annual general meeting. The dispute also concerns the distinction between shareholder influence and directors' decision-making duties. A Trust sought to direct its nominee director to oppose a listing, but the director declined on the basis of independent director duties.
September 17, 2026
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Selective capital reduction offers a proposed shareholder-liquidity route while preserving private-company status, subject to valuation and approval scrutiny.
Tata Trusts has placed before the Tata Sons board a framework for the Shapoorji Pallonji Group to monetise part of its Tata Sons shareholding without requiring a public listing. The transaction would be valued under Rule 11UA principles, completed in two tranches over 18 months, and require Tata Sons to commence a selective capital reduction process before the National Company Law Tribunal. Completion remains contingent on financing capacity, regulatory and tribunal approvals, and scrutiny of valuation, shareholder treatment, and the legal validity of the capital-reduction structure.
September 17, 2026
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Board chair reappointment validity turns on mandatory nominee-director approval, amid separate listing-compliance and succession disputes.
Tata Sons' board reappointed its executive chairman by majority vote, but Tata Trusts contend that the resolution is void under the Articles of Association because both Trust-nominated directors must approve a chairmanship resolution. The dispute also concerns the effect of the chairman's earlier decision to step aside, an ongoing successor-selection process, and uncertainty over a nominee director's status following a failed general meeting. Separately, the rejection of Tata Sons' deregistration request has revived questions over compliance with the listing requirement applicable to an upper-layer non-banking financial company.
September 17, 2026
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Deep-sea fishing access supports export-oriented harvesting of high-value species, with foreign-port high-seas landings recognised as exports.
Deep-sea fishing policy promotes expansion of fishing operations within India's Exclusive Economic Zone (EEZ) and on the high seas to increase fisherfolk income through exports of high-value species. High-seas catch classification has been altered so that fish caught on the high seas and offloaded at a foreign port are treated as exports rather than imports.
September 17, 2026
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Merchant discount rate on eligible UPI payments places charges on merchants while preserving consumer protections and small merchant exemptions.
Merchant Discount Rate at 0.4 per cent will apply from October 15 to person-to-merchant UPI payments above Rs 2,000, payable by merchants and subject to a cap for high-value transactions. Individual transfers and most everyday merchant payments remain free, while eligible small QR-code merchants are exempt. Essential-service payments and capital-market transactions receive separate fee treatment, and a portion of MDR collections will support small-merchant UPI adoption.

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Maharashtra votes for high-stakes civic polls on Jan 15; Mumbai key battleground

January 14, 2026

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Mumbai, Jan 14 (PTI) As Maharashtra heads to the elections on Thursday for 29 municipal corporations, the spotlight is firmly on Mumbai, where the BJP-led Mahayuti is locked in a keen battle with the united Thackeray cousins Raj and Uddhav for control of the cash-rich BMC.

Polling for the 2,869 seats spread across 893 wards will begin at 7.30 am and end at 5.30 pm. A total of 3.48 crore voters are eligible to decide the fate of 15,931 candidates. In the Brihanmumbai Municipal Corporation (BMC), whose annual budget is over Rs 74, 400 crore, 1,700 candidates are vying for 227 seats in elections being held after a four-year delay.

Except for Mumbai, the other urban bodies have multi-member wards. Vote count will take place on January 16.

The polls, being held after a gap of several years due to various legal and administrative delays, are being seen as a "mini-assembly" battle that will test the ground strength of the split factions of the Shiv Sena and the NCP, as well as the electoral prowess of the ruling Mahayuti and the Congress.

Chief Minister Devendra Fadnavis, who spearheaded the campaign for BJP-led Mahayuti, has predicted that MNS leader Raj Thackeray would emerge as the biggest loser in his alliance with cousin and Shiv Sena (UBT) president Uddhav.

He dismissed the coming together of rival NCP factions in Pune and Pimpri Chinchwad as merely a localised development.

The CM led the ruling alliance’s canvassing, traversing the state to campaign for candidates of the Mahayuti, which includes his party BJP and the Eknath Shinde-led Shiv Sena.

These are the first BMC polls since the 2022 split in the Shiv Sena when Eknath Shinde broke away with a majority of the party’s MLAs. The undivided Shiv Sena held sway over India's richest civic body for 25 years (1997-2022).

More than 25,000 police personnel will be deployed across Mumbai to oversee elections to the BMC and vote counting.

In a significant political turn ahead of the elections, estranged cousins Uddhav and Raj Thackeray reunited after two decades in their bid to consolidate Marathi votes even as rival NCP factions forged a local alliance in Pune and Pimpri-Chinchwad.

The Congress has asserted its presence in Mumbai by stepping out of the shadow of its Maha Vikas Aghadi allies - Shiv Sena (UBT) and NCP (SP). The Congress has joined hands with Prakash Ambedkar’s Vanchit Bahujan Aghadi (VBA) and the Rashtriya Samaj Paksh in the state capital, even as it contests independently in Nagpur.

Elections to 29 municipal corporations are being held after a gap of over 6 years, with their terms having ended between 2020 and 2023. Of these, nine fall within the Mumbai Metropolitan Region (MMR).

The cities and towns going to polls are: Chhatrapati Sambhajinagar, Navi Mumbai, Vasai-Virar, Kalyan-Dombivli, Kolhapur, Nagpur, Mumbai, Solapur, Amravati, Akola, Nashik, Pimpri-Chinchwad, Pune, Ulhasnagar, Thane, Chandrapur, Parbhani, Mira-Bhayandar, Nanded-Waghala, Panvel, Bhiwandi-Nizampur, Latur, Malegaon, Sangli-Miraj-Kupwad, Jalgaon, Ahilyanagar, Dhule, Jalna and Ichalkaranji.

Fadnavis, along with his deputies Shinde and Ajit Pawar, campaigned across Maharashtra, while cousins Uddhav and Raj Thackeray concentrated their efforts on Mumbai, Thane, Nashik, and Chhatrapati Sambhajinagar.

Telangana minister Mohammad Azharuddin, AIMIM chief Asaduddin Owaisi and Tamil Nadu BJP leader K Annamalai were also among the star campaigners.

Populist promises for women were key features of the manifestos of both Mahayuti and the Shiv Sena (UBT)-MNS.

The Mahayuti has promised a 50 per cent concession for women in BEST bus travel, while the Thackeray cousins have assured a Rs 1,500 monthly allowance for women domestic helps and a property tax waiver on houses up to 700 sq ft.

The Congress manifesto, by contrast, prioritises combating Mumbai’s pollution, upgrading the BEST fleet, and strengthening the city’s financial health.

The race for Mumbai’s mayoral post took centre stage in the campaign, with the BJP claiming that a Sena (UBT) victory could lead to a Muslim mayor, a charge the Uddhav Thackeray-led party countered by assuring voters of a Marathi mayor.

Fadnavis also guaranteed that the next mayor will be a "Hindu and Marathi".

In Mumbai, the BJP is contesting on 137 seats, the Shiv Sena 90, while the NCP is fighting separately on 94 seats. The Shiv Sena (UBT) has fielded 163 candidates, the MNS 52, the Congress 143 and the VBA 46. The Congress has fielded 1,263 candidates across the rest of the state.

Mumbai will see several prominent candidates battling it out for supremacy in civic polls. These include former MLA Sada Sarvankar's son and Shiv Sena candidate Samadhan, who is contesting from Ward 194 in Worli, the constituency of Shiv Sena (UBT) MLA Aaditya Thackeray.

Sada Sarvankar's daughter Priya Gurav Sarvankar is contesting from Ward 191 (Mahim). Saurabh Ghosalkar (Shiv Sena-UBT), son of former MLA Vinod Ghosalkar, is contesting from Ward 7 (Dahisar).

Nishikant Shinde (Shiv Sena-UBT), brother of Shiv Sena (UBT) MLC Sunil Shinde, is locked in a prestige battle in Central Mumbai. Assembly Speaker Rahul Narwekar's relatives Makrand, Harshita and Gauravi Shivalkar are in the fray in different wards in Colaba.

Shiv Sena (UBT) MLA Sunil Prabhu's son and BJP leader Kirti Somaiya's son Neil are also in the fray. Former mayors who are once again in the poll ring include Kishori Pednekar, Shraddha Jadhav, Milind Vaidya and Vishakha Raut.

Several leaders who lost Assembly or parliamentary polls are also in the ring. Yamini Jadhav (Shiv Sena), who lost in the 2024 Lok Sabha and assembly polls, is contesting from Ward 209 (Byculla). Praveena Morajkar (Shiv Sena-UBT), an ex-corporator and assembly poll candidate, is contesting from Ward 169 (Kurla). PTI MR GK RSY

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