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    Bajaj Finance Acquires 5% Stake in TrueFan AI as part of Finserv Intelligence
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September 8, 2026
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Strategic equity investment in AI video technology supports expanded enterprise automation, personalised communication, and startup innovation collaboration.
Bajaj Finance acquired a 5% equity stake in TrueFan AI through Finserv Intelligence, an applied research and innovation initiative supporting scalable technology enterprises. The investment follows existing use of TrueFan AI's platform for personalised customer engagement and dealer enablement. The parties intend to expand collaboration in personalised marketing, high-volume video generation, live-avatar assistance, multilingual communication, learning and development, and digital onboarding. The partnership combines equity participation with development of technological capabilities and long-term strategic value.
September 8, 2026
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Corporate share transaction validity was sustained after allegations of altered control and financial impropriety were rejected in prolonged proceedings.
The National Company Law Appellate Tribunal set aside the Tribunal's decision after considering historical corporate records and contemporaneous material, rejecting allegations of financial impropriety concerning the private placement and share transfers. It upheld the relevant corporate decisions and transactions. The Supreme Court declined to interfere with the appellate determination, concluding the prolonged challenge brought by Bhagwati Developers Private Limited.
September 8, 2026
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PMLA information-sharing enables a police FIR request over alleged bribery, sham consultancy payments, and suspected fund routing.
Enforcement Directorate used PMLA information-sharing powers to seek a police FIR over alleged bribery, sham consultancy payments, and laundering of funds linked to CMRL and Exalogic Solutions. The allegations concern purported payments for IT consultancy services, use of Exalogic Solutions as a corporate vehicle for routing payments, and alleged transfers of funds to Dubai. The investigation also draws on allegations of fictitious corporate expenditure that generated cash for unlawful payments.
September 8, 2026
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PMLA information-sharing in alleged consultancy payments enables police FIR registration and potential money-laundering proceedings thereafter.
Section 66(2) of the Prevention of Money Laundering Act permits the Enforcement Directorate to share criminal-investigation findings with law-enforcement agencies for registration of a fresh FIR or complaint. A police case registered on that information can form the basis for a PMLA case. In the reported investigation, FIR registration was sought on evidence gathered during the PMLA probe and searches concerning alleged consultancy payments.
September 8, 2026
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Governance and risk oversight gain focus as strategic advisers support institutional-grade alternative credit operations for MSMEs.
Strategic Advisory Board appointments add Mr. Rajaram and Mr. Bala Swaminathan to UpTik's advisory leadership for its invoice discounting and alternative credit operations. Their respective experience in structured finance, regulatory compliance, banking operations, treasury and institutional finance is intended to strengthen governance, risk oversight, compliance, credit-management frameworks and institutional partnerships. The appointments support expansion of transparent and responsible alternative credit access for MSMEs.
September 8, 2026
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Homebuyer claims and delayed possession require a comprehensive proposal, while frozen accounts remain unavailable for insolvency operations.
Proceedings concerning delayed real-estate projects require a fresh comprehensive proposal addressing possession, refunds, delayed-possession compensation, and enforcement-related claims of all homebuyers across the developer's group entities. An inadequate proposal may lead to appointment of a High-Powered Committee to assume relevant responsibilities. Frozen bank accounts remain under restraint, and a request by the Insolvency Resolution Professional to operate an account for company affairs was not entertained. The proceedings also raise concerns over enforcement of real-estate regulatory directions and protection of homebuyers facing prolonged delays.
September 8, 2026
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Crude oil price volatility heightens India's import, inflation and fuel-retailer margin pressures amid West Asia supply disruptions.
Elevated crude prices arising from West Asia supply and maritime-transit risks increase India's oil import costs and may pressure the trade balance and currency. Higher international crude prices can feed into domestic inflation through fuel, transport and energy costs, depending on domestic price pass-through and the duration of the increase. Retail fuel-price restraint may compress fuel-retailer margins and increase LPG under-recoveries. Refiners, distributors, airlines, petrochemical businesses and other energy-intensive sectors also face higher costs, particularly where crude, LPG and naphtha supplies depend on regional transit flows.
September 8, 2026
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Alternative investment fund private placements require eligible investors and governing offering documents, with market-risk and no-advice disclosures.
Alternative Investment Fund units are not offered through public solicitation. Subscriptions, purchases or dealings in units may occur only by private placement to eligible investors and on the terms of the relevant private placement memorandum and constitutive documents. The material is not investment advice or a recommendation concerning securities or companies. Securities-market investments carry market risk, and past performance does not assure future results. Category III fund management is also associated with investment-process assessment, risk governance and institutional infrastructure.
September 8, 2026
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PMLA information-sharing mechanism triggers requested corruption FIR based on alleged consultancy payments and suspected proceeds of crime.
The requested police case concerns allegations that CMRL made fraudulent payments to Exalogic Solutions, a now-defunct company, by representing them as consideration for IT consultancy services. The investigation also alleged generation of proceeds of crime by CMRL management and persons connected with the recipient company. Searches reportedly resulted in seizure of handwritten notes containing details of certain fund transfers to Dubai.
September 8, 2026
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PMLA information-sharing mechanism supports police FIR referral based on alleged CMRL-linked payments and investigation material.
PMLA information-sharing power under section 66(2) permits the Enforcement Directorate to transmit money-laundering investigation findings and material recovered through searches to a law-enforcement agency for consideration of a fresh FIR or complaint. An FIR registered on that basis may also support a PMLA case. Registration was reportedly sought in relation to alleged CMRL-linked bribery involving purported fraudulent consultancy payments and material said to record fund transfers to Dubai.
September 8, 2026
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Export-led growth in technology goods and autos widens trade imbalances amid tariffs, strategic supply constraints, and diversification.
China's export growth accelerated in August, driven by demand for automobiles and high-technology goods, while imports also rose and the trade surplus widened. Export growth continued to outpace imports, supported by expanded shipments to Southeast Asia, Latin America and Africa and by rising exports of electric vehicles, industrial machinery and semiconductors. Reliance on exports amid weak domestic consumption and investment contributed to concerns over global economic imbalances and continuing strategic trade tensions.
September 8, 2026
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Foreign-exchange intervention supports rupee stability amid elevated oil prices, geopolitical tensions, and shifting global market indicators.
Rupee depreciation in the interbank foreign-exchange market reflected elevated Brent crude prices, Middle East geopolitical tensions and weaker investor confidence. RBI dollar sales and foreign-currency inflows under special schemes supported range-bound currency trading despite external pressures. A softer dollar index, foreign institutional equity purchases, inflation data and the Federal Open Market Committee meeting were identified as relevant indicators for currency-market direction.
September 8, 2026
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Performance-linked incentives for public sector bank executives are kept in abeyance pending bipartite settlement and joint note discussions.
Implementation of the Performance Linked Incentive Scheme for Public Sector Bank executives is kept in abeyance for FY 2025-26 following employee concerns about its structure. The scheme will be considered during ongoing Bipartite Settlement and Joint Note discussions. Employee representatives also raised issues concerning ex-gratia benefits and medical facilities for retired employees. The concerns are to be addressed through dialogue, consultation and mutual understanding.
September 8, 2026
Show AI Summary
Customs trade data show stronger export and import growth, driven by automotive and high-technology demand.
China's customs trade indicators for August record export growth of 25% year-on-year, accelerating from July's 23.9% rate, supported by demand for automobiles and high-technology goods. Imports rose 28.2% year-on-year, up from July's 27.5% growth. Higher import and export values produced a trade surplus of $119.1 billion, widening from $112.5 billion in July.
September 8, 2026
Show AI Summary
Money-laundering searches of media-linked premises prompted allegations of political vendetta, while investigators cited suspected funding and circulation irregularities.
Enforcement Directorate searches at premises linked to a Rajya Sabha member and an Urdu daily were undertaken in connection with a money-laundering investigation. The investigation arose from a police FIR and concerned allegations of material promoting communal disharmony, unaccounted cash transactions, suspicious funding, overstated circulation figures to secure government advertising, and advertising-linked funding connected with a Dubai-based entity. The political party disputed the action, alleging political motivation and targeting of a media voice.
September 8, 2026
Show AI Summary
Money-laundering investigation into alleged Valmiki Corporation fund diversion includes renewed questioning and scrutiny of related irregularities.
Money-laundering investigation concerning alleged misappropriation of Karnataka Maharishi Valmiki Scheduled Tribes Development Corporation Limited funds involved further recording of a former minister's statement under the Prevention of Money Laundering Act. The inquiry follows earlier questioning, arrest, grant of bail and filing of a chargesheet over alleged fund-transfer irregularities. The former minister denied involvement, characterised the matter as bank fraud, and stated that no documents were sought during the inquiry.
September 7, 2026
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Aadhaar-based learning licence authentication faces challenge over age verification, identity safeguards, and compliance with prescribed licensing formalities.
Aadhaar-based online processing of learning and driving licence applications is challenged on the ground that Aadhaar is not valid proof of age and that reliance on Aadhaar details may enable issue of licences to underage applicants. Allegations that licences were issued using a deceased person's Aadhaar number and despite an obscene uploaded photograph raise identity-verification and security concerns. The Union and State maintain that Aadhaar alone does not result in licence issuance because prescribed formalities must also be completed.
September 7, 2026
Show AI Summary
Digital payment transparency for religious institutions supports direct trust-account donations, reconciliation, and technology-led banking services.
Digital donation collection facilities for temples and religious establishments include kiosks, Bharat Bill Payment System payments and UPI QR-code payments. Donations may be credited directly to the relevant trust account, supported by transaction reconciliation and digital records to improve transparency and ease of transactions. Technology services also cover municipal dues payments and property-tax assessment, alongside banking support for defence-sector ecosystems, MSMEs, agriculture and priority-sector lending.
September 7, 2026
Show AI Summary
Rupee exchange-rate movement reflected crude oil pressures, domestic equity weakness, foreign inflows, and a softer dollar.
Foreign-exchange market conditions resulted in the rupee closing weaker against the US dollar after initial support from foreign currency deposit inflows. Rising crude oil prices and weakness in domestic equity markets weighed on sentiment and offset support from a softer dollar and foreign investor equity purchases. Future movement may remain influenced by foreign inflows, crude oil prices, domestic market conditions, geopolitical tensions and inflation data.
September 7, 2026
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Surrogate advertising allegations challenge notices targeting brand ambassadors and raise jurisdiction and hearing concerns for product promoters.
Challenge to surrogate advertising allegations concerns notices requiring brand ambassadors promoting Vimal Elaichi to prove that it differs from prohibited pan masala, halt promotions, and remove digital materials. The product promoter contests the notices because they were addressed only to the actors, it was not heard, and the regulator allegedly lacked jurisdiction to stop the advertisements. Territorial jurisdiction to entertain the challenge is also contested.

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'Seems to have missed the ball': Tharoor's cricketing analogy to slam Budget

February 1, 2026

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New Delhi, Feb 1 (PTI) Senior Congress leader Shashi Tharoor on Sunday used a cricketing analogy to express his disappointment with the Union Budget, saying Finance Minister Nirmala Sitharaman "seems to have missed the ball".

In an interview with PTI at the news agency's headquarters, Tharoor said Sitharaman's Budget speech seemed to have "lots of subheadings but very few specifics", and was "completely short" of an overall vision.

As a Kerala MP, Tharoor said, he had nothing to be happy about in this Budget.

Tharoor asserted that the biggest unanswered question remains jobs, noting that there was little in the Budget speech to indicate how employment would be generated.

Asked whether the finance minister has "hit it out of the park" or "missed the ball completely and been stumped", Tharoor said, "I don't know if she's been stumped yet, but she certainly seems to have missed the ball. In one or two places, she may have got edges, but I'm not quite sure that we've got anything off the meat of the bat so far." Noting that it was a fairly short Budget speech, Tharoor said it seemed to have lots of subheadings but very few specifics.

"On the big-picture issues, there was nothing that we could hear for the middle class and the lower middle class. There was nothing there for the states. In fact, fiscal devolution remains unchanged at 41 per cent, and many states have complained that they don't have enough to fulfil their own obligations to their citizens," the former Union minister said, adding that there was "genuine concern" over it.

He claimed that there were very few details on key aspects, such as what would be set up and where and cited Kerala as an example, saying the state has been waiting nearly 15 years for an All India Institute of Medical Sciences, but no announcement was made.

"There was a reference to an All India Institute of Ayurveda being established, but not any indication as to where. Kerala would imagine that, as a major centre of Ayurveda, it should be a logical place, but they haven’t promised us that," the Thiruvananthapuram MP said.

In fact, Kerala was only mentioned in the context of rare earths and the turtle trail, he said.

"Even when coconuts and cashews were talked about, the state wasn’t mentioned. So, I am assuming that some of these subheadings she spoke about will translate into concrete projects and programmes for us....but where details came, we had reason for disappointment, for example, ship repair for inland waterways, they are parking them in Varanasi and Patna despite Kerala having so many rivers and inland waterways," he said.

"I have a lot of these questions and concerns about that, and on the larger issue of where the country is heading, the biggest question remains jobs. There was little saying that we will generate jobs through this or that," Tharoor said.

He claimed that the speech was completely short of an overall vision.

"What was it supposed to be about -- whether it is supposed to be proclaiming a new reform era? It did not do that. Was it supposed to be performing some sort of belt-tightening? It did not say that. What was it about... it was a series of subheadings, but there was no clear unifying vision," the Congress leader said.

Criticising the Budget, Tharoor said welfare measures were not specified, except for the reference to the Mahatma Gandhi Gram Swaraj Yojana.

"What is interesting is that they took away Mahatma Gandhi’s name from the Rural Employment Guarantee Scheme and applied it to another alleged village development scheme. I’d like to see what exactly comes out of it and what kind of allocations it has," he said.

"Some of these conversations perhaps need to await the full budget document," he added.

Tharoor also asked why there was no clarity given on whether the G RAM G Act would be given adequate financing. He said he was surprised not to hear his state mentioned more often in the Budget speech.

"It was also short on the kind of couplets from Thiruvalluvar we got used to hearing not only from Nirmala ji but even from the prime minister and other leaders, the vice president and others who used to love quoting Thiruvalluvar. Here's an election opportunity in Tamil Nadu, a few months away. No Thiruvalluvar in the speech. I was surprised," he said, taking a swipe at the government.

Normally, there is one big headline coming out of the Budget speech, like last year, it was tax, it was fiscal consolidation before that, but it was not the case this time, he said.

Asked about concerns surrounding India’s trade, particularly in the context of the deal not being sealed with the US as well as tariff issues, Tharoor said, "Well, the US was our largest market, and that market has certainly been affected by the 50 per cent tariffs.

"People have done various workarounds... I don’t know at this stage, unless some kind of accommodation can be found with the Americans, whether we will be able to recapture the chunk of the American market that we have lost." Tharoor said, conversely, the European Union could emerge as India's next biggest market. While there is much to be enthusiastic about in the deal that was announced, he cautioned that it has not yet come into force.

"I had understood that all 27 countries of the European Union need to ratify it. I see the commerce minister has made a statement, saying that it is not necessary. I think we will have to wait to hear from the Europeans as to when and how this can come into force," Tharoor added. PTI ASK RHL

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