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    Gross NPAs of Scheduled Commercial Banks (SCBs) for domestic operations reach a historic low of 2.15% as of September, 2025
    Fake income tax officer arrested after extortion attempt in UP's Sambhal
    Highlights of draft Income Tax Rules, 2026
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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.
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February 9, 2026
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Union budget cuts to capital expenditure and rural allocations worsen investment shortfalls and hinder growth momentum.
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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.
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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.
February 9, 2026
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TMC appeals to Speaker to revoke suspension of eight MPs and restore parliamentary balance and opposition speaking time.
Trinamool Congress has formally appealed to the Lok Sabha Speaker to review and withdraw the suspension of eight opposition MPs, seeking restoration of parliamentary balance and adequate time for opposition participation so the House can function.
February 9, 2026
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TCG CREST launches School of Health, Environment & Sustainability Studies, offering PhD, postgraduate and professional health programmes from August.
TCG CREST established a School of Health, Environment & Sustainability Studies to launch PhD and postgraduate programmes in Health Data Science, Public Health, and Health and Environment Sciences from August, with integrated postgraduate-PhD pathways phased in during 2026-27 and 2027-28, and professional diplomas and short courses (including a Diploma in Critical Care Technology and a Postgraduate Diploma in Healthcare Management) beginning April 2026.

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The Swali Craft Prize Names Natasha Preenja (Princess Pea) as Its First Winner

February 9, 2026

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Winning work, The Lotus Headed, unveiled at India Art Fair 2026 New Delhi, February 2026 The Swali Craft Prize, founded by Karishma Swali and the Chanakya Foundation in partnership with India Art Fair, announces Natasha Preenja (Princess Pea) as its inaugural recipient.

From over 100 entries, the international jury selected Preenja for a practice defined by conceptual depth, technical mastery, and a profound engagement with cultural heritage. The Prize is proud to present her winning work, The Lotus Headed (2026), at the India Art Fair 2026.

Natasha Preenja is an Indian artist whose multidisciplinary practice draws on feminist thought, mythology, and traditional craft to examine gender, the body, and the politics of care. Working across painting, sculpture, performance, and collaborative processes, her practice foregrounds craft and collective making as sites of resistance, reflection, and women-led knowledge.

Selected by the jury as the winning proposal, The Lotus Headed was realised through a close and sustained dialogue between Natasha Preenja, Karishma Swali, and the Chanakya School of Craft, as a shared exploration of mythic iconography and contemporary collective practice. The sculpture draws from the figure of Lajja Gauri, an ancient embodiment of fertility who’s grounded uttanapad (squatting) posture is intimately tied to birth, reproductive cycles, and domestic ritual, anchoring the work in bodily knowledge that precedes language while also carrying political charge as a gesture of protest, reclamation, and endurance.

The depth of the work lies in its rigorous, multi-layered construction, beginning with thousands of individually hand-carved wooden elements from the toy-making tradition of Etikopakka, Andhra Pradesh, using native Ankudu wood (Wrightia tinctoria). In response, master artisans of Chanakya knitted and stitched these fragments into the sculpture’s surface, creating an organic, cellular texture through six strata of embroidery in jute and cotton, employing techniques such as couching and stem stitch. Anchored by a concealed steel framework, the form maintains monumentality alongside lightness and porosity. The project marks a profound meeting of two methodologies: Preenja’s sculptural investigation into maternal resilience and the Chanakya School’s interdisciplinary material practice grounded in collective authorship, where the goddess emerges as a visceral force of endurance and the transmission of knowledge as an evolving, thinking practice.

Conceived as a platform to renew the cultural and conceptual possibilities of handcraft, the Swali Craft Prize recognizes contemporary makers whose work bridges tradition and innovation. By anchoring artistic expression in living artisanal knowledge, the prize offers a dual framework: a grant of INR 11,00,000 and a fully funded residency at the Chanakya School of Craft. This structure provides sustained access to mentorship, research, and collaborative engagement with master artisans, enabling ambitious, research-led artistic production.

Karishma Swali, Founder & Creative Director of the Chanakya School | Creative Director Chanakya added: “The Swali Craft Prize emerged from a desire to create conditions where contemporary artistic inquiry could unfold in close conversation with living craft traditions. Natasha’s work embodies this philosophy. The Lotus Headed unfolded through dialogue, trust, and shared authorship, transforming individual intention into a collective expression. It reflects our belief that craft is not a static inheritance, but a dynamic language capable of shaping new cultural futures.” Jaya Asokan, Fair Director, India Art Fair, commented: “India Art Fair is proud to partner in a prize that foregrounds craft as a vital contemporary practice. By championing experimentation, material intelligence, and collective processes, the Swali Craft Prize creates a powerful platform for new voices and new forms, positioning India at the forefront of global craft discourse.” The inaugural jury featured a distinguished panel of experts: Mickalene Thomas, visual artist; Jasmine Wahi, curator and founder of Project for Empty Space; and Meneesha Kellay, Senior Curator, Contemporary, at the Victoria and Albert Museum; Reena Kallat, visual artist alongside Karishma Swali and Jaya Asokan, Fair Director of the India Art Fair. Together, the jury evaluated applications based on technical mastery, conceptual depth, cultural significance, and artistic innovation.

Reflecting on the award, Natasha Preenja (Princess Pea) said: “This residency offered a rare space for deep listening, exchange, and experimentation. Working alongside the master artisans of Chanakya allowed the sculpture to evolve in ways I could not have anticipated, as wood, thread, and gesture came together to hold stories of resilience, care, and inheritance. The Lotus Headed is as much a tribute to the collective act of making as it is to the mothers who carry generations within them.” About Natasha Preenja (Princess Pea) Princess Pea (Natasha Preenja) is an Indian artist whose multidisciplinary practice explores gender identity, the body, and self-worth. Drawing from feminist literature, mythology, and traditional crafts, her work examines the politics of care, domesticity, and women-led narratives of self. Trained as a painter, she works across drawing, photography, sculpture, and performance.

Through her alter ego Princess Pea — a figure concealed behind an anime-inspired headgear — Preenja challenges patriarchal norms and reclaims spaces of reflection and solidarity. Her collaborative and time-based projects foster intergenerational dialogue among women, positioning care and craft as acts of resistance.

In 2008, she founded The Pea Family Studio, collaborating with artisans from Etikopakka, Andhra Pradesh, to merge ancient turn-wood techniques with contemporary form. Her recent works in marble reference Mother Earth as a keeper of time and knowledge. Preenja’s socially engaged projects include Care with Dignity (Purpose, Bihar) and Extra Time (Khoj, Goa). Her work has been exhibited at Sakshi Gallery, Exhibit320, Shrine Empire, and Art Dubai, among others, and is held in the collections of the Mead Art Museum and the Museum of Living History. She lives and works in Gurgaon, India.

About Chanakya Foundation & Chanakya School Established in 1984 in Mumbai, Chanakya has remained steadfast in its mission to elevate and sustain the pluralistic beauty of India's rich cultural heritage. Under Karishma Swali’s leadership, Chanakya has built enduring creative partnerships with over 50 global fashion houses, celebrated artists, and craft practitioners positioning Indian handcraftsmanship within the highest echelons of contemporary visual culture. Central to its philosophy is a profound re-evaluation of the conventional hierarchies that have historically delineated the roles of artist and artisan. By fostering a renewed discourse, it challenges these long-standing distinctions, recognizing embroidery not as a decorative technique but as a medium of conceptual and material innovation.

Recognising a compelling need to address social, economic, and environmental challenges, Karishma Swali established the Chanakya Foundation in 2015. The foundation is committed to fostering cultural sustainability and holistic advancement through education, skill development, and dedicated efforts to preserve India's rich artisanal heritage while promoting the arts. In 2016, Karishma Swali furthered this vision by founding the Chanakya School of Craft, a non-profit institution dedicated to empowering women through craft, culture, and creating a new autonomy for women.

In 2020, she and the graduated artisans of the Chanakya School of Craft collaborated with American feminist artist Judy Chicago to create 22 monumental hand embroidered artworks, currently on display at the New Museum in New York. The following year, they partnered with French contemporary artist Eva Jospin to produce "Chambre De Soie" (Silk Room), a 40-meter immersive gallery. In 2024, the Chanakya Foundation presented the artistic collaboration between renowned Indian artists Madhvi Parekh and Manu Parekh, in partnership with Karishma Swali and the Chanakya School of Craft. This exhibition, titled 'Cosmic Garden,' was featured as a collateral event of the 60th International Art Exhibition – La Biennale di Venezia. Most recently, in 2025, Karishma Swali and the Chanakya School of Craft presented En Route at the Vatican Apostolic Library — an artistic collaboration with Maria Grazia Chiuri exploring the cultural legacy of women who challenged historical norms.

About Karishma Swali Karishma Swali (b. 1977, Mumbai) is an artist and craft practitioner committed to preserving India’s intangible cultural heritage. Influenced by the philosophies of Rabindranath Tagore and Jiddu Krishnamurti, she leads Chanakya International and founded the Chanakya Foundation in 2015 to advance cultural sustainability and skill development. In 2016, she established the Chanakya School of Craft, a nonprofit institution dedicated to empowering women through craft and culture. The school’s holistic curriculum teaches over 300 hand-embroidery techniques and has trained more than 1,300 women. Swali’s interdisciplinary practice situates handcraftsmanship within a contemporary framework, engaging in significant collaborations with celebrated artists including Judy Chicago, Mickalene Thomas, Faith Ringgold, and Barthélémy Toguo. In 2024, she presented Cosmic Garden at La Biennale di Venezia with Indian artists Manu and Madhvi Parekh. Most recently, En Route was unveiled at the Vatican Apostolic Library (2025). Her contributions have been widely recognised on an international stage. In 2022, she received the Grazia Millennial Award for Contemporary Craftsmanship and was named to the BoF 500. In 2024, she was honoured with the Badass Art Woman Award (BAWA) for her pioneering work in education through craft, and in the same year was conferred the Chevalier de l’Ordre national du Mérite. In 2025, she received the Officier dans l’Ordre des Arts et des Lettres from the Consul General of France in Mumbai, on behalf of the French government, and was also awarded the Cavaliere dell’Ordine della Stella d’Italia by the Consul General of Italy.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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