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February 7, 2026
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MSIL launches app to digitise chit fund transactions with UPI payments, online bidding and expanded agent networks.
MSIL launched a software platform and mobile app to digitise chit fund transactions-integrating UPI and online bidding-to enhance transparency and reduce fraud, expand access via appointed agents including women self help group Sakhis and retail outlets, prioritise rural outreach and government employees, and implement a Vision 2030 roadmap supported by CSR funding to scale operations.
February 7, 2026
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Quantum computers will launch in Amaravati to seed a regional hub for research, local manufacturing, and talent development.
The Amaravati Quantum Valley will host two indigenous quantum computers as reference facilities on April 14, integrating industry-academia-government MoUs, quantum cloud services, an innovation centre, and a talent hub to position the region as a centre for quantum research, local component manufacturing, talent development, and applications in quantum medicine and biology under the broader National Quantum Mission.
February 7, 2026
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Income tax draft rules and simplified smart forms released; public comments invited by Feb 22.
The tax department released draft rules and forms under the new Income Tax Act, 2025, inviting stakeholder comments and aiming to simplify and consolidate the regulatory framework. The draft rules reduce redundancies, standardise common information, and introduce smart forms with prefill and automated reconciliation. Two navigators map old rules/forms to the new drafts. The proposals rationalise perquisite thresholds and revise the definition of Accountant for certification, linking it to experience and revenue criteria, with separate thresholds for entities providing accountancy or valuation services.
February 7, 2026
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Sabarimala gold loss case: BJP pledges to pursue justice as SIT probe and arrests continue.
A Special Investigation Team formed following judicial direction is probing two cases about gold missing from guardian deity idols and sanctum doorframes at the Sabarimala shrine; the probe has led to the arrest of 12 persons, including two former Devaswom Board presidents. The BJP has pledged to pursue justice in the matter and has made the investigation and resulting arrests a central part of its political campaign narrative.
February 7, 2026
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India Semiconductor Mission 2.0 will prioritise indigenous chip design and talent development, backed by Rs 1,000 crore.
India Semiconductor Mission 2.0 will prioritise indigenous chip design, productisation, ecosystem partner engagement and talent development, backed by Rs 1,000 crore for FY 2026-27 and an emphasis on industry led research and training centres. The programme targets support for production at the 2 nanometer node, integration of equipment and materials suppliers, deployment of EDA tools across institutions, and explicit talent objectives including an 85,000 person ten year target and substantial early progress already recorded.
February 7, 2026
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India-US interim trade framework reduces import duties to boost two-way trade and expand market access.
India and the United States have reached a framework for an interim bilateral trade agreement in which both parties will reduce import duties on selected goods to boost two way trade and expand market access, including for American farmers; this forms part of a series of trade deals that Indian officials say reinforce India's role as a trusted partner.
February 7, 2026
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India-US trade agreement establishes reciprocal tariff cuts and duty removals to expand market access and two way trade.
Interim bilateral trade framework sets reciprocal tariff adjustments: the United States will reduce tariffs on specified Indian goods to 18% from about 50%, and India will eliminate or reduce import duties on all American industrial goods and a specified list of agricultural and food products, as the first phase of the broader Bilateral Trade Agreement, with formal signing expected by mid March.
February 7, 2026
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Mumbai mayoral election: BJP candidate Ritu Tawde nominated unopposed under a woman open-category reservation, process to proceed.
BJP's Ritu Tawde was nominated unopposed for Mumbai mayor after other parties did not file competing nominations by the filing deadline; the post was made reserved for a woman from the open category by a draw of lots. Officials recorded single nominations for mayor and deputy mayor before the deadline and the municipal election process will continue according to the scheduled withdrawal and procedural dates.
February 7, 2026
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State Bank of India's profit boosted by a Rs 2,200 crore mutual fund dividend amid stronger loan growth and regulatory support.
A Rs 2,200 crore special dividend from the IPO bound mutual fund arm materially lifted standalone net profit and non interest income. The bank raised its FY loan growth target to 13-15% amid 15.14% loan growth, a 72% credit deposit ratio, excess government securities holdings, and a large sanctioned loan pipeline. Management flagged regulatory support from RBI measures allowing bank lending to REITs and an RBI stance on compensating defrauded customers, while asset quality improved and capital adequacy stood at 14.04%.
February 7, 2026
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Partition of India occurred due to forgetting Hindu sentiment, and Hindutva preserves cultural unity, says RSS chief.
Mohan Bhagwat contended that the partition resulted from a neglect of collective Hindu sentiment and maintained that Hindutva need not displace personal religious practice, language or food habits, framing it instead as a guarantee of individual safety within the nation. He promoted dialogue to address factual criticisms of the RSS, opposed reliance on perception or propaganda, advocated balanced swadeshi with global interdependence (not tariff-driven), and called for social measures-family dialogue, self-pride and self-awareness-to strengthen peaceful co-existence.
February 7, 2026
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Ride-hailing drivers protest for minimum base fares and a ban on non-commercial vehicles operating commercially.
Drivers staged a coordinated partial stoppage refusing some bookings during demand surges to protest dynamic fare increases and to demand that the government notify a minimum base fare, and to bar use of non-commercial vehicles for commercial passenger and goods transport, pressing regulators to establish fare slabs and clarify vehicle classification.
February 7, 2026
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Assembly microphone cut off during a minister's speech, raising questions about speaking list rules and speaker discretion.
A minister's microphone was switched off while speaking because his name was not on the original speakers' list; the Speaker acknowledged the omission but exercised discretion to allot four minutes, after which warning and cutoff lights activated and the microphone was reportedly silenced, prompting visible displeasure and a subsequent cordial recess meeting with the Speaker.
February 7, 2026
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Indo US trade deal will expand market access, boost jobs and support Make in India while regional security concerns persist.
The Lieutenant Governor of Ladakh characterises the recent Indo US trade agreement as advancing India's economic objectives by expanding market access, benefiting farmers, creating jobs, and supporting initiatives such as Make in India and startup promotion toward a 'Viksit Bharat' by 2047. He condemns a terrorist bombing in Pakistan, attributes regional instability to Pakistan's security institutions undermining civilian governance, and links defence and technological progress to national advancement.
February 7, 2026
Show AI Summary
US-India trade pact cuts or eliminates tariffs on many goods while addressing non-tariff barriers to trade.
The bilateral framework provides for immediate and phased tariff elimination and reduction on numerous industrial, food, agricultural, medical, and high-value goods, while preserving targeted protections such as minimum import prices. It also requires both parties to address non-tariff barriers, reform restrictive licensing for ICT goods, and establish quota-based and phased modalities; reciprocal zero-tariff access in the partner market is granted for a specified list of Indian agricultural and processed food exports.
February 7, 2026
Show AI Summary
India US trade framework supports MSME integration, cuts tariffs and opens markets while protecting sensitive agricultural sectors.
The India US Interim Agreement framework modifies bilateral market access and duties to support MSME integration and reduce business costs: the US will cut tariffs on specified Indian goods to 18%, India will eliminate or lower duties on a wide range of US industrial and agricultural products, and India intends to purchase USD 500 billion of US goods over five years; the framework preserves safeguards for sensitive agricultural and dairy sectors and includes joint technology cooperation to position India as a hub for AI, data and digital services.
February 7, 2026
Show AI Summary
Election projection: national party claims it will form government, citing increased funding and budget-driven development plans.
The national party asserts it will form the state government, citing a 23% rise in loans and doubled grants-in-aid as evidence of supportive central funding and linking the Viksit Bharat Budget 2026 to growth in Tourism, a Rare Earth Corridor, and High-Value Crops; it accuses prior administrations of sectoral stagnation, raises national security concerns over alleged local support for Islamist forces, and pledges cultural protection, empowerment of women, youth and farmers, and business-friendly measures.
February 7, 2026
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Bengaluru-Mumbai premium train service announced; Centre seeks state support for land acquisition under cooperative federalism.
Central projects, including a premium Bengaluru-Mumbai service and suburban rail expansion, depend on state cooperation for land acquisition under a policy of cooperative federalism; administrative prerequisites such as design approvals, tendering, testing, and electrification certification are reported as advanced for several services.
February 7, 2026
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India-US interim trade framework preserves agriculture and dairy while lowering tariffs and expanding market access for exporters and MSMEs.
The BJP defends the India-US interim trade framework as preserving sensitive agriculture and dairy sectors while reducing reciprocal tariffs to 18 percent and granting zero-tariff access in sectors such as generic pharmaceuticals, gems and diamonds, and aircraft parts, thereby boosting export competitiveness, supporting MSMEs, farmers and fishermen, and expanding market access and employment opportunities.
February 7, 2026
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India and the US agreed a framework reducing reciprocal tariffs and committing to phased duty eliminations and regulatory cooperation.
The United States and India reached a framework for an Interim Agreement in which the US will reduce tariffs on specified Indian goods to 18% and India will eliminate or reduce duties on a wide range of US industrial, food and agricultural products, with immediate eliminations, phased reductions, quota-based concessions, sector-specific tariff relief (including zero tariffs on generic pharmaceuticals, gems and aircraft parts), regulatory cooperation on standards and commitments to address non-tariff barriers.
February 7, 2026
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Jammu and Kashmir hydropower development urged; Centre brings region under SASCI with 50-year interest-free capital loans.
The Union Home Minister directed full utilisation of Jammu and Kashmir's hydropower projects and 100 per cent saturation of government welfare schemes, while the Centre brought the territory under the SASCI scheme for FY 2025-26 to enable access to 50-year interest-free loans for capital projects and emphasised fiscal discipline and targeted investments such as sports infrastructure and dairy sector promotion.

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PMLA / Black Money

Liquor scam: SC to hear after a week Chhattisgarh govt's plea against Chaitanya Baghel's bail

February 9, 2026

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New Delhi, Feb 9 (PTI) The Supreme Court on Monday said it would hear after a week the Chhattisgarh government's appeal challenging the bail granted to Chaitanya Baghel, son of former chief minister and senior Congress leader Bhupesh Baghel, in alleged liquor scam cases.

A bench of Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and N V Anjaria was told by senior advocate Mahesh Jethmalani, appearing for Chhattisgarh, that one of the vital witnesses in the case was not coming forward after Chaitanya Baghel was granted bail.

The Enforcement Directorate (ED) has separately challenged his bail in a related money laundering case.

The bench said it would hear the matter after a week.

The top court also dealt with a separate plea filed by former Chhattisgarh chief minister Bhupesh Baghel's deputy secretary Saumya Chaurasia, who was arrested by the ED in December last year in connection with the alleged liquor scam in the state.

Senior advocate Mukul Rohatgi, appearing for Chaurasia, said the apex court had earlier granted bail to Chaurasia in other cases in which she was arrested.

"They have again registered a fresh FIR and arrested her in December," Rohatgi said, adding this is the sixth time that she has been arrested.

The bench asked her to approach the Chhattisgarh High Court for bail.

It said she may file her petition before the high court within a week and the high court may take her plea on a priority basis and decide it within two weeks.

The bench was also informed that Chaurasia was also arrested by the Economic Offences Wing (EOW) in a separate case on January 2.

The top court said she may move the high court to seek bail in that case as well.

Chaurasia, who was earlier granted bail by the apex court in the coal levy scam case, was re-arrested in the liquor cases by the probe agencies.

On January 15, the apex court deferred the hearing on the Chhattisgarh government's appeal challenging the grant of bail to Chaitanya Baghel.

While the state government alleged that Chaitanya Baghel was one of the prime accused and masterminds in the sensational case, his counsel had argued that the high court delivered a well-considered judgement in the case in which the probe was ongoing for the last two years.

On January 2, the high court granted bail to Chaitanya Baghel in two cases linked to the alleged liquor scam.

The single bench of Justice Arvind Kumar Verma allowed Chaitanya Baghel's bail pleas in a case lodged by the ED and another by the Chhattisgarh Anti-Corruption Bureau (ACB)/EOW.

In its order on the bail application in the ED's case, the high court noted that the applicant's alleged role was "significantly lesser" than that of several senior accused who have already been granted bail.

It said the alleged kingpins and principal beneficiaries Anwar Dhebar, Anil Tuteja, Arvind Singh, Arunpati Tripathi and Trilok Singh Dhillon have already been enlarged on bail by the Supreme Court, and denying bail to the applicant would violate the well-established principle of parity.

The high court observed that the investigation was largely documentary in nature and that Chaitanya Baghel had remained in custody for a considerable period.

It said the evidentiary value of the material collected by the ED, including statements under Section 50 of the Prevention of Money Laundering Act (PMLA) and financial and digital records, would be tested during trial and not conclusively assessed at the bail stage.

In a separate order granting him bail in the ACB/EOW case, the HC said it was a "grave violation of law" that the investigating officer failed to arrest Lakshmi Narayan Bansal (an accused in the case) despite a permanent/open-ended warrant issued by the special court.

The ED arrested Chaitanya Baghel on July 18 last year in its money laundering probe in the alleged scam, while the ACB/EOW placed him under arrest while he was in jail on September 24 in its case linked to the corruption probe.

The liquor "scam" in the state, according to the ED, was orchestrated between 2019 and 2022 when Chhattisgarh was governed by the Bhupesh Baghel-led Congress dispensation.

The alleged scam resulted in a "massive loss" to the state exchequer and filled the pockets of the beneficiaries of a liquor syndicate, it claimed.

According to the ED, Chaitanya Baghel was at the helm of the syndicate behind the alleged liquor scam and personally handled nearly Rs 1,000 crore generated through the scandal.

The ACB/EOW has claimed Chaitanya Baghel, along others managed the proceeds of crime at a higher level, and received around Rs 200-250 crore as his share.

The proceeds of crime linked to the scam could exceed Rs 3,500 crore, the state agency had claimed. PTI ABA SJK DIV DIV

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