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    Takaichi’s landslide win reflects deep structural, ideological shift in Japan: China
    Budget duped villages, farmers, and deprived classes of society: Surjewala
    Gross NPAs of Scheduled Commercial Banks (SCBs) for domestic operations reach a historic low of 2.15% as of September, 2025
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    Highlights of draft Income Tax Rules, 2026
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February 9, 2026
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Japan election result prompts China to defend diplomatic pressure and urge Japan to avoid a return to militarism.
China framed Takaichi's electoral victory as reflecting ideological shifts and defended its diplomatic offensive and restrictive measures taken after her Taiwan related remarks, urging Japan to honour existing political understandings and its pacifist constitution and warning against a return to militarism.
February 9, 2026
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Union Budget cuts allocations for rural, agricultural and social welfare sectors and raises concerns over trade deal clarity.
The Union Budget is criticised for reducing allocations and failing to fund announced rural and agricultural initiatives, with several missions receiving zero allocations and large sums of agri spending unutilised or surrendered; allocations for SC/STs, rural development, education and health are reported cut. The India US trade deal is said to open Indian markets to US agricultural produce without clarity on additional products, raising uncertainty over staples such as milk, cheese and foodgrains.
February 9, 2026
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Gross NPAs of Scheduled Commercial Banks fell to 2.15% after reforms strengthening recognition, resolution and recovery.
Gross NPAs of Scheduled Commercial Banks fell to 2.15% as of September 30, 2025, driven by the Asset Quality Review, the Government's 4Rs strategy and reforms strengthening recognition, resolution and recovery. Public Sector Banks show larger declines (2.50% gross NPA) and improved slippage ratios (0.8% for PSBs versus 1.8% for PVBs). Measures cited include Early Warning Systems, the Insolvency and Bankruptcy Code, SARFAESI amendments, increased DRT jurisdiction, specialised stressed asset verticals, and the Prudential Framework for resolution of stressed assets.
February 9, 2026
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Fake income tax officer arrested after extortion and forgery allegations; forged ID and notices recovered, case registered.
Allegations that an individual posed as an income tax officer to demand payment to avoid tax proceedings gave rise to criminal charges for extortion, forgery and criminal intimidation; police registered a case on complaint, arrested the suspect and recovered a forged ID, a forged departmental letter and a forged notice used to induce payment.
February 9, 2026
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Income tax rules: PAN thresholds for cash, property, vehicles, hotels and insurance updated and crypto reporting added.
The draft rules implement the new Income Tax Act and streamline compliance through consolidated rules and pre-filled digital forms, while setting revised PAN thresholds: PAN mandatory for annual cash deposits/withdrawals above Rs 10 lakh, not required for hotel bills under Rs 1 lakh, required for vehicle purchases above Rs 5 lakh and for immovable property transactions above Rs 20 lakh; PAN also compulsory for account-based insurance relationships. The draft requires crypto exchanges to share information with tax authorities and accepts Central Bank Digital Currency as an electronic payment mode.
February 9, 2026
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Mahaveer Awards announce 29th recipients across Non-Violence, Education, Medicine and Community service; nominations now nationally open.
The Foundation announced the 29th Mahaveer Awards in four categories-Non-Violence & Vegetarianism, Education, Medicine, and Community & Social Service-naming five awardees. Each award carries a cash prize of Rs. 10 lakh, a citation and a memento. The recipients were selected from 267 nominations by an eminent Selection Jury chaired by a former Chief Justice; the Foundation invited nominations for the 30th edition via its website.
February 9, 2026
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Doctor 365's 5th Bollywood Maha Arogya Shivir provided free medical care, screenings and assistive devices to thousands of attendees.
Doctor 365 and R.K. HIV AIDS Research and Care Centre organized the 5th Bollywood Maha Arogya Shivir on January 18, 2026, delivering free general and specialist medical services, diagnostic tests, eye care and assistive devices. The organization reports extensive nationwide charitable activity-tens of thousands of camps, millions of beneficiaries, large-scale distribution of medicines, spectacles and wheelchairs, mass TB and sickle cell screening and treatment-and operation of mobile medical units and ambulance hubs in partnership with state governments.
February 9, 2026
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Maharashtra forms panel to design a venture capital fund for the textile sector to support startups and MSMEs.
A nine member committee chaired by the state textile minister will frame proposals for a dedicated venture capital fund for the textile sector to provide targeted risk capital to startups and MSMEs, supporting innovation, modernisation, value addition, manufacturing growth, exports and employment. The committee will study the fund's structure, size, governance and operational framework; assess funding needs across the value chain; identify best practices and leverage private investment, financial institutions and central schemes; and recommend safeguards, incentives and timelines before submitting its report to the government.
February 9, 2026
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JBCN International Schools secured eight Outstanding Learner Awards, including five Top in the World recognitions in IGCSE and AS/A Level subjects.
JBCN International Schools announced eight learners received Outstanding Learner Awards-five Top in the World and three Top in India-across IGCSE and International AS & A Level examinations, with a strong showing in Mathematics and top scores in Global Perspectives, AS Level Sociology, and Digital Media and Design, attributed to student discipline and mentoring by experienced teachers including trained examiners.
February 9, 2026
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Convocation: problem-solving skills highlighted as key to career success amid AI-driven workplace shifts and graduates honoured with awards.
Problem-solving ability is presented as the decisive factor for career success amid AI-driven reduction of traditional entry-level jobs; education should develop innovative thinking and resilience rather than only intellectual training. The convocation highlighted the PGDM program's alignment with the National Education Policy 2020, industry collaboration and research emphasis, included an interactive career-focused Q&A, and conferred degrees alongside merit and extracurricular awards.
February 9, 2026
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Silver and gold rose on global trends and a weaker dollar, aided by China buying and focus on US macro data.
Silver and gold prices rose sharply on firm global cues and a softer US dollar, with silver up c.6.7% to Rs 2,72,000/kg and 99.9% gold up c.0.8% to Rs 1,58,500/10g. Price gains were driven by international spot increases, domestic buying and speculative flows in silver, while profit-taking limited peaks. Dollar weakness, sustained Chinese central bank gold purchases and anticipation of key US jobs and inflation data were identified as principal market drivers.
February 9, 2026
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Unlisted shares in India: private-equity style investments requiring Demat accounts, off-market transfers, and longer holding periods.
Unlisted shares trade outside recognised exchanges via off-market transfers requiring a Demat account, KYC and depository documentation; pricing is negotiated based on company fundamentals rather than exchange price discovery, liquidity is constrained with longer holding periods, and capital gains taxation depends on holding-period tests-market participants are moving from informal channels to structured platforms and specialist intermediaries.
February 9, 2026
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PAN quoting thresholds raised: mandatory PAN for large cash transactions, vehicle, hotel and property purchases and insurance onboarding.
Draft Income Tax Rules 2026 require PAN for cash deposits/withdrawals aggregating Rs 10 lakh in a year, motor vehicle purchases over Rs 5 lakh (including motorcycles), hotel/event payments over Rs 1 lakh, and immovable property transactions over Rs 20 lakh; PAN will also be required to open account-based relationships with insurance companies.
February 9, 2026
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AuthBridge and Vibrium AI partner to build AI driven conversational verification and cognitive models for faster, more accurate digital trust solutions.
AuthBridge and Vibrium AI will co develop AI powered conversational interfaces and cognitive verification models that integrate generative and cognitive AI into verification infrastructure to improve automation, verification accuracy, real time intelligence, and scalability for secure, enterprise grade digital verification and due diligence.
February 9, 2026
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Frontier Nagaland Territorial Authority enables local decision-making through administrative autonomy and devolved subjects for development.
The Frontier Nagaland Territorial Authority agreement grants administrative autonomy to six eastern districts by devolving 46 subjects to the Authority, establishing a dedicated secretariat, and providing a separate Centre-funded annual budget to enable local decision-making and faster execution of development programmes, aimed at fostering peace, stability, infrastructure, investment, tourism, and employment.
February 9, 2026
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Satellite internet partnership to provide high-speed connectivity to remote and underserved areas under a pilot public-private LoI.
A government entity and a private satellite operator executed a Letter of Intent to run a pilot providing high speed satellite internet to remote, border and underserved areas, connecting CSCs, e governance facilities, schools, PHCs, disaster management rooms, police outposts, ports and industrial parks. A Joint Working Group of both parties will coordinate implementation, capacity building and training, with sectoral focus on education, healthcare, security, maritime operations, highway safety and industrial connectivity to support digital inclusion where terrestrial infrastructure is limited.
February 9, 2026
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Union budget cuts to capital expenditure and rural allocations worsen investment shortfalls and hinder growth momentum.
The budget reduces capital expenditure for both Centre and state-advance-funded projects during a period of weak public, private and foreign investment, contributing to lower gross fixed capital formation and slower nominal growth. The budget's fiscal consolidation path is criticised as slow under the FRBM framework and dependent on one-off central bank transfers and expenditure cuts. The document further identifies notable sectoral reductions-agriculture, rural development, state grants and targeted scheme outlays-that are said to undermine rural infrastructure, manufacturing capacity and employment initiatives.
February 9, 2026
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Bhima Jewellery opens Noida showroom offering 22 carat, 100% BIS certified jewellery and expanded pan India retail presence.
Bhima Jewellery opened a new Noida showroom (P17, Sector 18) as part of pan India expansion, offering 22 carat gold, 100% BIS certified products, transparent pricing, and a modern retail experience. The launch reflects a strategy of responsible geographic growth, omnichannel development, and maintaining legacy commitments to purity, craftsmanship, ethical business practices, and consistent quality controls across product categories.
February 9, 2026
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Crypto market plunges into extreme fear as traders rotate into DeepSnitch AI presale for on chain risk monitoring and bonuses.
Market sentiment has plunged into "extreme fear" after Bitcoin and major altcoins fell sharply, prompting capital rotation toward DeepSnitch AI, an AI-driven platform offering live agents that monitor market movement, sentiment, and on-chain risk. AuditSnitch provides instant smart-contract scans with simple verdicts, and the project is in a rising presale stage with promotional bonus codes increasing token allocations; the article pairs this promotional presale narrative with a standard high-risk trading disclaimer.
February 9, 2026
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Domicile certificate applications at KMC surge amid electoral roll revision, prompting centralized verification and expedited issuance to assist voters.
KMC received 18,605 domicile certificate applications during the SIR exercise; 18,482 were forwarded for police field verification, yielding 16,555 enquiry reports, 14,590 certificates issued and 1,287 rejections. A centralised mechanism routes borough applications to KMC headquarters and the sector collector for police checks, with final approval by a WBCS-rank officer and borough-level issuance. Dedicated counters and guidance on documents such as Aadhaar and rent receipts were issued to expedite processing for voters under electoral roll revision.

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Japanese prime minister's party secures sweeping majority in lower house, media reports say

February 8, 2026

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Tokyo, Feb 8 (AP) The governing party of Prime Minister Sanae Takaichi secured a more than two-thirds majority in a key parliamentary election on Sunday, Japanese media reported, citing preliminary results.

Takaichi, in a televised interview with public television network NHK, said that after the sweeping victory she is now ready to pursue her policies.

NHK, citing results of vote counts, said Takaichi's Liberal Democratic Party, or LDP, alone secured 316 seats by early Monday, comfortably surpassing a 261-seat absolute majority in the 465-member lower house, the more powerful of Japan's two-chamber parliament. That marks a record since the party's foundation in 1955 and surpasses the previous record of 300 seats won in 1986 by late Prime Minister Yasuhiro Nakasone.

A smiling Takaichi placed a big red ribbon above each winner's name on a signboard at the LDP's headquarters, as accompanying party executives applauded.

Despite the lack of a majority in the other chamber, the upper house, the huge jump from the preelection share in the superior lower house would allow Takaichi to make progress on a right-wing agenda that aims to boost Japan's economy and military capabilities as tensions grow with China and she tries to nurture ties with the United States.

Takaichi said that she would firmly push forward her policy goals while trying to gain support from the opposition.

“I will be flexible,” she said.

Takaichi is hugely popular, but the governing LDP, which has ruled Japan for most of the last seven decades, has struggled with funding and religious scandals in recent years. She called Sunday's early election only after three months in office, hoping to turn that around while her popularity is high.

Popular leader ----------------- The ultraconservative Takaichi, who took office as Japan's first female leader in October, pledged to “work, work, work,” and her style, which is seen as both playful and tough, has resonated with younger fans who say they weren't previously interested in politics.

The opposition, despite the formation of a new centrist alliance and a rising far-right, was too splintered to be a real challenger. The new opposition alliance of LDP's former coalition partner, Buddhist-backed dovish Komeito, and the liberal-leaning Constitutional Democratic Party of Japan, is projected to sink to half of their combined preelection share of 167 seats.

Takaichi was betting with this election that her LDP party, together with its new partner, the Japan Innovation Party, would secure a majority.

Akihito Iwatake, a 53-year-old office worker, said he welcomed the big win by the LDP because he felt the party went too liberal in the past few years. “With Takaichi shifting things more toward the conservative side, I think that brought this positive result,” he said.

Takaichi's policies -------------------- The prime minister wants to push forward a significant shift to the right in Japan's security, immigration and other policies. The LDP's right-wing partner, JIP leader Hirofumi Yoshimura, has said his party will serve as an “accelerator” for this push.

Japan has recently seen far-right populists gain ground, such as the anti-globalist and surging nationalist party Sanseito. Exit polls projected a big gain for Sanseito.

Takaichi has pledged to revise security and defense policies by December to bolster Japan's offensive military capabilities, lifting a ban on weapons exports and moving further away from the country's postwar pacifist principles.

She has been pushing for tougher policies on foreigners, anti-espionage and other measures that resonate with a far-right audience, but ones that experts say could undermine civil rights.

Takaichi also wants to increase defense spending in response to US President Donald Trump's pressure for Japan to loosen its purse strings.

She now has time to work on these policies, without an election until 2028.

Divisive policies ------------------ Though Takaichi said that she's seeking to win support for policies seen as divisive in Japan, she largely avoided discussing ways to fund soaring military spending, how to fix diplomatic tension with China and other issues.

In her campaign speeches, Takaichi enthusiastically talked about the need for proactive government spending to fund “crisis management investment and growth,” such as measures to strengthen economic security, technology and other industries. Takaichi also seeks to push tougher measures on immigration, including stricter requirements for foreign property owners and a cap on foreign residents.

Sunday's election “underscores a problematic trend in Japanese politics in which political survival takes priority over substantive policy outcomes,” said Masato Kamikubo, a Ritsumeikan University politics professor. “Whenever the government attempts necessary but unpopular reforms ... the next election looms.” Impact of snow ----------------- Sunday's vote coincided with fresh snowfall across the country, including in Tokyo. Record snowfall in northern Japan over the past few weeks blocked roads and was blamed for dozens of deaths nationwide. (AP) GSP

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