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February 14, 2026
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Input tax credit fraud exposed; director arrested after probe finds bogus suppliers and inadmissible credits used to discharge tax liabilities.
Investigation by the Anti Evasion Branch found that the company availed inadmissible Input Tax Credit on the basis of invoices from bogus or non functional suppliers, and without actual receipt of goods, using those credits to discharge GST liabilities in contravention of the Central Goods and Services Tax Act, 2017; a company director was arrested and remanded while the probe to trace fund flows and other beneficiaries continues.
February 13, 2026
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India-US interim trade deal provoked uproar; Speaker faced removal notice and MPs were suspended during Budget session.
India-US interim trade agreement and the unpublished memoir dispute triggered disruptions in the first leg of the Budget session, leading to eight MPs being suspended, a notice to remove the Speaker and the Speaker's refusal to occupy the chair until that notice is disposed of; the Lok Sabha adopted the Motion of Thanks without the prime minister's reply while the Rajya Sabha completed debate and adopted the Motion amid an opposition walkout, and Parliament passed an amendment to the Industrial Relations Code.
February 13, 2026
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Retail liquor prices to rise as Uttar Pradesh raises licence fees, reforms MRP and launches an excise export policy.
The excise policy raises the minimum guaranteed revenue (MGR)/licence fee for retail liquor shops and bhang shops, adjusts special additional excise duty on IMFL, and reforms MRP by rounding most country liquor and UPML to the next multiple of Rs 10 while introducing a new 100 ml UPML pack; it also creates a standalone excise export policy to promote distilling and logistics investment and requires retail allotments primarily by renewal with district collectors authorised to approve relocations.
February 13, 2026
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Iridium scam network using fake central bank IDs defrauded investors of crores; six arrested, investigation ongoing.
An inter-state fraud operation used a fake commodity investment scheme claiming funds held with the central bank to obtain payments via staged interviews, counterfeit identity cards, biometric collection and forged documents. The facts give rise to allegations of impersonation, forgery, cheating and criminal conspiracy. Law enforcement conducted coordinated arrests across jurisdictions, seized mobile phones and laptops, and is investigating further victims and participants while advising potential victims to file complaints to assist evidence collection and tracing.
February 13, 2026
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Spectrum allocation ruled not an asset and therefore not subject to insolvency proceedings under applicable insolvency rules.
Allocation of electromagnetic spectrum to telecom service providers was held not to constitute an asset capable of being brought into insolvency proceedings, limiting the scope of creditor remedies under the insolvency regime. The NIA was granted an additional 45 days to continue its probe into a blast, and an individual was released on bail in a decades-old criminal case, illustrating ongoing judicial oversight of investigations and pretrial liberty decisions.
February 13, 2026
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Lodha Developers ex-director accused of laundering over Rs 85 crore using front entities, forged MOUs and benami land deals.
Allegations state a former director exceeded limited authority to orchestrate unauthorized transactions that generated, concealed and laundered proceeds of crime exceeding Rs 85 crore by using front entities, benami arrangements, forged MOUs, diversion of company funds through controlled entities, cash withdrawals, undervalued alienation of company land and Transferable Development Rights, and fraudulent allotment of residential units to benefit associates.
February 13, 2026
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Rupee falls to 90.66 as forex reserves decline and a new CPI series is introduced, weighing on markets.
The rupee weakened to 90.66 per US dollar amid a firmer dollar, weak domestic equities, and foreign institutional investor outflows, while RBI data showed a notable weekly decline in forex reserves. Authorities introduced a new Consumer Price Index series with expanded coverage and re-weighted constituents to better inform monetary and fiscal policy.
February 13, 2026
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Supreme Court updates: spectrum ruled non IBC asset; Himachal local polls deadline extended; directions on probes and enforcement.
The Court extended the Himachal Pradesh deadline for local body elections to May 31, required an investigative agency to file a status report on multiple FIRs arising from ethnic violence, ordered a rusticated minor be permitted to sit Class 10 exams with the examination council issuing an admit card, signalled that substantial security may be required in enforcement of a foreign civil judgment if contested, and held that telecom spectrum allocations are not assets subject to proceedings under the Insolvency and Bankruptcy Code.
February 13, 2026
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Spectrum allocated to telecom providers is not an IBC asset; licensing rights do not create proprietary title for insolvency.
Spectrum allocated to telecom service providers is not susceptible to IBC proceedings because the Union retains ownership and the telecommunications statutes and regulatory framework govern administration, use, transfer, and licensing; recognition of spectrum licensing rights as an intangible asset in financial statements does not create proprietary title, and absent transfer of title such licensing rights are not part of the insolvency asset pool.
February 13, 2026
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Priority sector lending potential estimated at Rs 4.88 lakh crore for FY27, with major allocations to agriculture and MSMEs.
NABARD's State Focus Paper projects a priority sector credit potential of Rs 4.88 lakh crore for FY27, allocating Rs 2.24 lakh crore to agriculture and allied activities and Rs 2.27 lakh crore to MSMEs, with block level sub sector estimates to inform the annual credit plan and align financial institutions with development priorities.
February 13, 2026
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Andaman bank fraud: Enforcement Directorate attaches Rs 200 crore in properties under PMLA, linking assets to shell companies.
The Enforcement Directorate, by a provisional order under the Prevention of Money Laundering Act, attached 51 immovable properties worth Rs 200.02 crore allegedly derived from a Rs 500 crore fraud at the Andaman and Nicobar State Cooperative Bank; assets are held in names of accused persons, relatives, associates and controlled firms. The ED alleges use of 23 shell companies, dummy directors and powers of attorney to conceal consideration and that over 100 high-value loans were sanctioned in violation of NABARD, RBI and internal bank directives; a chargesheet against 39 entities was filed in November 2025.
February 13, 2026
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Startup India expands funding, tax reliefs and compliance relaxations to boost venture financing, ESOP flexibility and GST ease.
Startup India recognises over 2.07 lakh startups and deploys three principal funding mechanisms-Fund of Funds for Startups (FFS) via SIDBI backed AIFs (Rs. 25,547.98 crore invested), Startup India Seed Fund Scheme (SISFS) providing grants/convertible/debt through incubators (Rs. 590.93 crore approved), and a Credit Guarantee Scheme for Startups (CGSS) guaranteeing loans (circa Rs. 808.18 crore). Concurrent regulatory and tax easements include profit linked tax deductions, ESOP TDS deferral, carry forward/set off relaxations, GST procedural reforms (simplified registration, QRMP, provisional refunds, interest/penalty waivers, reduced pre deposits) and Companies Act compliance relaxations (optional cash flow, deposit exemptions, reduced board meeting frequency, ESOP and convertible note flexibilities).
February 13, 2026
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Greenfield industrial cities: SPVs formed for 12 projects, EPCs appointed for nine, environment clearances for eleven.
All twelve greenfield industrial city projects have incorporated Special Purpose Vehicles; equity released to nine SPVs; Programme Managers for New Cities appointed for nine projects; EPC contractors appointed for nine projects with one additional contractor finalised; eight EPC contracts had been awarded for internal trunk infrastructure as of January 2026 with one further award thereafter; environment clearances secured for eleven projects and foundation stones laid at two projects.
February 13, 2026
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Lead Bank Scheme draft revises governance, roles, and committee structures; public comments invited by March 6, 2026.
Draft circular revising the Lead Bank Scheme aims to refine Scheme objectives, clarify governance by specifying structure, membership and agenda of fora, and delineate roles and responsibilities of key functionaries. It also proposes measures to strengthen the State Level Bankers' Committee and Lead District Manager offices. Public comments are invited by email using a prescribed subject line within the stated deadline.
February 13, 2026
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RBI draft directions on loan recovery require fair treatment, due diligence, training, and codes for recovery agents.
The Reserve Bank of India has issued draft Amendment Directions extending responsible business conduct requirements on loan recovery and engagement of recovery agents to all regulated entities, specifying safeguards on fair treatment of borrowers, conduct of lender employees and agents, due diligence, training, and a code of conduct for recovery agents, and inviting public comments through prescribed channels.
February 13, 2026
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India's forex reserves fell $6.7bn to $717.06bn; foreign currency assets rose while gold and SDRs declined.
India's foreign exchange reserves fell USD 6.711 billion to USD 717.064 billion for the week ended February 6. Foreign currency assets increased by USD 7.661 billion to USD 570.053 billion, gold reserves dropped by USD 14.208 billion to USD 123.476 billion, SDRs declined by USD 132 million to USD 18.821 billion, and the reserve position with the IMF fell by USD 32 million to USD 4.715 billion.
February 13, 2026
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Gold and silver ETFs see increased investor flows as platforms use open ONDC infrastructure to offer SEBI-regulated products.
Record transaction volumes in gold and silver ETFs reflect investor shifts from physical holdings to SEBI-regulated products; Stable Money's early integration with the Open Network for Digital Commerce enables distribution of regulated mutual funds and ETFs via an open, interoperable infrastructure, increasing reach without closed ecosystems and concentrating mutual fund transactions on the network.
February 13, 2026
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Electoral trusts disbursed Rs 3,826 crore in FY25, with one party receiving 82.5%-report calls for greater transparency.
Electoral trusts received Rs 3,826.34 crore in FY2024-25 and disbursed Rs 3,826.35 crore, with one party receiving 82.52% of distributed funds; ten of twenty trusts reported receipts, five trusts' reports were unavailable, and instances of nil reporting and accounting anomalies were noted. The report identified concentration among top donors and sectors, significant undisclosed donor addresses, and called for enhanced transparency and enforcement under the Electoral Trusts Scheme, 2013.
February 13, 2026
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Wheat and sugar exports authorised with pro-rata quotas for mills and a 70% export fulfilment condition by June 30, 2026.
The government authorised export of 25 lakh tonnes of wheat and an additional 5 lakh tonnes each of wheat products and sugar to manage domestic supply and prices, relying on current private-stock estimates and projected central-pool availability. Additional sugar exports will be allocated on a pro-rata basis to willing mills that declare willingness within 15 days and must export at least 70% of their allocation by June 30, 2026; allocated quotas are non-transferable.
February 13, 2026
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National Productivity Week highlights MSME cluster productivity, Industry 4.0 readiness assessment, and proposed productivity rating systems.
NPC advanced cluster-based strategies to boost MSME competitiveness and global integration, advocating shared infrastructure and knowledge exchange. It proposed an Industry 4.0 Readiness Assessment Framework, an Indian Productivity Rating System, a 5S Assessment Framework for export readiness, sector-specific benchmarks, and a Learning & Development Centre to embed productivity tools. Energy efficiency, sustainable production, youth engagement, and international collaboration were presented as complementary measures to translate productivity gains into cost efficiency and competitiveness.

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Opposition likely to give notice for resolution to remove LS Speaker Birla from office

February 9, 2026

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New Delhi, Feb 9 (PTI) The opposition is considering giving a notice for moving a resolution to remove Lok Sabha Speaker Om Birla from office for disallowing Rahul Gandhi and other opposition leaders from speaking in the House on the Motion of Thanks to the President's address, as well as for the suspension of eight MPs.

At the same time, Gandhi, the leader of the opposition in the Lok Sabha, and some others met Birla on Monday afternoon to work out a solution to end the stalemate, as the House has not been functioning properly ever since the former Congress chief was not allowed to speak on the India-China issue last week.

Sources said a notice for resolution in this matter would be given in the Lok Sabha soon, and signatures of MPs are being procured.

As many as 103 MPs, including those from the Congress, DMK and Samajwadi Party, had already signed a notice for moving the resolution, the sources said, adding a final decision on when to give the notice against the Speaker would be taken on Tuesday.

They added that a notice for the resolution is likely to be given under Article 94-C of the Constitution to the Lok Sabha secretary general, and over 100 opposition MPs have already signed it. However, the TMC is keen on taking up the SIR issue more vigorously, while the Samajwadi Party wants to highlight the alleged insult of Malwa queen Ahilyabai Holkar.

Parliamentary Affairs Minister Kiren Rijiju, however, said that in a parliamentary democracy, the opposition may bring the resolution, but they don't have the numbers.

The notice is being given to move a resolution for the removal of the Speaker for disallowing the leader of the opposition from speaking in the House on the motion of thanks, for not initiating action against BJP MP Nishikant Dubey for his unsubstantiated charges against women MPs of the Congress, and suspension of eight opposition MPs, the sources said.

Rahul Gandhi, alongwith TMC's Abhishek Banerjee, Samajwadi Party's Akhilesh Yadav and DMK's T R Baalu, met Birla soon after the Lok Sabha was adjourned for the day on Monday, to work out a solution and end the stalemate.

During the talks, the leaders are learnt to have raised various points on why the opposition was protesting in the House. Gandhi also told the Speaker that they were ready for a discussion, provided he was allowed to speak.

The Congress and other opposition leaders are now awaiting the final decision of Speaker Om Birla, after he is learnt to have told the opposition leaders during the meeting that he would get back to them after speaking to the government side, the sources said.

During the meeting, which lasted a few minutes, Gandhi and other leaders apprised the Speaker about the issues they wanted to raise in the House.

Sources said Gandhi told the Speaker that he wanted to raise the issue of suspension of eight Congress MPs and other matters relating to Parliament, including the charges made against the women MPs. They urged the Speaker to revoke the suspension of eight MPs to end the stalemate.

The Lok Sabha has not been functioning properly ever since Gandhi was not allowed to speak on February 2. The Rajya Sabha started the discussion on the Union Budget for 2026-27.

After the meeting with Lok Sabha speaker, Gandhi claimed that Prime Minister Narendra Modi did not come to the lower House to reply to the discussion on the motion of thanks to the President's address as he was "scared" of former army chief MM Naravane's unpublished memoir.

The Leader of Opposition dared those claiming there was a threat to the prime minister from MPs last Thursday to "file an FIR" against anyone threatening Modi.

Gandhi said the opposition is quite keen that the discussion happens. He claimed the government was scared of having a discussion on the Budget because of the India-US deal, the way it was done, and its impact on farmers.

"We are very disturbed about this idea that has been floated that members were going to threaten the PM. There is no question of that. The fact is very clear, the prime minister was scared to come to the House, not because of the members but because of what I was saying, and he is still scared because he cannot face the truth," he said.

"He (Modi) should have the courage to come. If somebody has said that he is going to attack the PM, file an FIR, and arrest that person. Why are you not doing that?" Gandhi posed. "The agreement is that we will be allowed to say these points, and then the discussion should happen." "But let us see what the government says. My personal view is that the government is scared of having a debate. The PM did not come to the House. He was scared of what we say, he was scared of being handed Naravane's book as a first step," he added.

Separately, women Congress MPs have written to Birla over the "unsubstantiated allegations" made by him against them. In the letter by several women MPs, including Priyanka Gandhi Vadra, they objected to charges made by the speaker.

The decision to give a notice to move the resolution for the removal of Birla from the office of Lok Sabha speaker was taken at a meeting of opposition leaders held in the chamber of Congress chief Mallikarjun Kharge this morning. The TMC, the Left, DMK, SP, RJD, and RSP were among the parties that attended the meeting.

If moved, this will be the fourth such notice against a sitting speaker of the Lok Sabha.

The first such resolution was moved against the first Speaker, G V Mavalankar, which was defeated. Again, a resolution was moved against Speaker Hukum Singh, which could not be taken up due to a lack of numbers. The third was against Speaker Balram Jakhar, which was also defeated. PTI SKC ASK SKC NSD NSD

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