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February 23, 2026
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Trade policy uncertainty after external tariff changes prompts review and rescheduling of bilateral negotiators' meeting.
Commerce ministry is reviewing recent foreign tariff changes and their impact on trade negotiations; the Finance Minister said it is too early to comment and that the negotiating delegation must decide timing for further talks. A planned meeting of chief negotiators to finalise an interim trade pact was rescheduled, and the ministry's Joint Secretary, Darpan Jain, is India's chief negotiator. The government affirmed it will continue pursuing bilateral and regional trade agreements to expand market access.
February 23, 2026
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Bank fraud monitoring: RBI says it is overseeing an IDFC First Bank fraud and finds no systemic issue.
Reserve Bank of India is monitoring an alleged fraud at IDFC First Bank and has indicated no systemic issue. IDFC First Bank disclosed the fraud involved certain employees and others at a Chandigarh branch affecting a specific set of Haryana government-linked accounts, and said the misconduct is confined to those government accounts and does not extend to other customers of the branch.
February 23, 2026
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Forensic audit validity confirmed, enabling banks to proceed with fraud account classification after a higher court quashed a prior interim stay.
Division bench overturned a single-judge interim stay that had restrained banks from classifying certain accounts as fraud, finding the stay illegal and perverse. The banks and an audit firm had appealed, asserting the forensic audit was legally valid and disclosed serious fund siphoning and misutilisation; the prior stay rested on challenges to the audit's compliance with RBI guidelines and the auditor's qualifications, which the division bench rejected.
February 23, 2026
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Tariff authority curtailed, prompting mixed market moves and heightened regulatory uncertainty across trade, crypto, and commodities.
The cancellation of broad presidential import levies removed a central trade policy instrument and prompted immediate market adjustments: equity futures fell, Asian indices were mixed, bitcoin dropped sharply, and precious metals rose. The incumbent plans alternative measures, including a global tariff via executive order and Commerce Department investigations, leaving trade policy and market expectations uncertain while growth, inflation, and corporate guidance continue to influence volatility.
February 23, 2026
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Illegality of presidential tariffs undermines executive tariff authority, prompting legal challenges and reshaping trade negotiation dynamics.
The judicial invalidation of the presidential tariff program undercuts executive unilateral tariff authority and invites legal challenges to successor emergency tariff measures, prompting reassessment of trade negotiations and reliance on discretionary tariffs without concrete balance of payments predicates.
February 23, 2026
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Index of Eight Core Industries shows overall growth, with cement and steel leading while oil and gas sectors decline.
The combined Index of Eight Core Industries rose provisionally by 4.0 per cent year on year in January 2026, with Cement, Steel, Electricity, Fertilizers and Coal recording positive monthly growth while Crude Oil and Natural Gas declined and Refinery Products remained unchanged. The cumulative April-January 2025-26 growth is reported as 2.8 per cent (provisional). The release provides industry weights, monthly and annual indices, notes that January data are provisional and December data final, and explains methodological inclusions and revision practice.
February 23, 2026
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Foreign exchange volatility: rupee strengthened after oil-led dollar weakness, while reserve gains and capital flows shape market risk.
The rupee strengthened in early trade due to lower global crude prices and a softer dollar amid tariff-related uncertainty, aided by a strong equity opening; persistent dollar-buying sentiment and foreign institutional outflows could reintroduce selling pressure. The Reserve Bank of India's rise in foreign exchange reserves to a record level is a material macroprudential indicator affecting market liquidity and perceived intervention capacity under FEMA and central bank reserve management frameworks.
February 23, 2026
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Supreme Court rejection of sweeping tariffs reshapes import-tax authority and prompts pursuit of alternative tariff mechanisms.
The Supreme Court struck down the majority of the President's broad import tariffs, prompting varied market reactions as investors repriced winners and losers; the administration announced alternative measures including an executive-order global tariff and use of Commerce Department trade-investigation authorities, preserving the prospect of import taxation while altering statutory mechanism and temporal limits.
February 22, 2026
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Sovereignty concerns over Indo US trade agreement; alleged tariff and procurement conditions threaten national, energy and data autonomy.
Allegations that an interim trade arrangement with the United States compromises national sovereignty and domestic interests by conceding tariff advantages and large import commitments, harming agriculture and industry. The pact is criticized for limiting energy procurement choices and creating dependency by discouraging purchases from alternative suppliers, thereby threatening energy security and raising inflationary pressure. Concerns also focus on obligations affecting data sovereignty, which are said to risk exposing sensitive data to foreign access.
February 22, 2026
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Trade commitments: EU urges US to honour agreed tariff ceiling and warns of anti-coercion countermeasures and uncertainty.
EU urges the United States to adhere to the trans Atlantic trade agreement and not exceed the agreed tariff ceiling, warning that unpredictable tariff changes harm trade stability and supply chains. The EU noted it may pause ratification and could deploy its Anti Coercion Instrument-permitting trade and investment restrictions, exclusions from public tenders, and limits on foreign direct investment-to defend its interests if commitments are not honoured.
February 22, 2026
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EU-India free trade agreement expands trade and AI cooperation and strengthens supply chain resilience pending final ratification.
The EU India Free Trade Agreement substantially liberalises tariffs across the majority of bilateral trade to expand market access, while prioritising cooperation on human centred artificial intelligence and promoting interdependent, resilient supply chains; the agreement is subject to final legal vetting and ratification before implementation.
February 22, 2026
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Digital fraud prevention: protect accounts by not sharing OTP or Aadhaar and using authorised re KYC channels.
Individuals must not share OTP, Aadhaar numbers, or bank account details and should change passwords regularly. KYC and re KYC are security measures that must be undertaken only via bank branches, official apps, or authorised platforms because criminals use fake calls, SMS and links to compromise accounts.
February 22, 2026
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PMLA enforcement targets accelerate investigations and timely prosecution filings, urging probes to finish within a short defined timeframe.
The Enforcement Directorate directed acceleration of PMLA prosecutions by increasing prosecution filings and concluding most investigations within one to two years, except in complex cases. Officers must exercise PMLA powers with caution, ensure legally sustainable attachments and penalties, and issue notices judiciously. Operational priorities include tracing illicit assets abroad, targeting misuse of trade channels and insolvency processes for laundering, prioritising digital arrest and cyber fraud work, checking illegal online gaming and share market manipulation, leveraging MLATs, Interpol and extradition, and completing pending FERA adjudications while addressing manpower, cooperation and valuation challenges.
February 22, 2026
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Trade tariffs altered by recent court ruling disrupt interim trade agreement negotiations and prompt rescheduling of chief negotiators' meeting.
The meeting of chief negotiators was postponed to permit assessment of a court ruling limiting executive tariff authority and subsequent US tariff adjustments, which have introduced uncertainty into agreed concessions under the interim trade framework. The framework must be converted into a legal instrument, but finalisation of the legal text and implementation timelines are deferred pending clarification of how additional US tariff layers will interact with existing Most Favoured Nation duties and the ultimate tariff treatment for the partner country.
February 22, 2026
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Data privacy: Appeals on platform data sharing penalty and consent safeguards to be heard, with government party added.
Appeals challenge a CCI penalty and limits on platform data sharing under privacy and competition law; an appellate tribunal removed a ban on advertising related data sharing but retained the penalty. The dispute centers on consent standards, protection of dependent or unaware users, and whether platform data aggregation creates market dominance. Procedural issues include interim directions, inclusion of the technology ministry as a party, and a cross appeal by the regulator against the tribunal's narrowing of remedies.
February 22, 2026
Show AI Summary
Congressional authority over tariffs affirmed, but executive invoked temporary trade statute to impose new global import tax.
A majority of justices held that the power to levy tariffs is vested in Congress, voiding a major part of the presidential global tariff program; the President then invoked the Trade Act's temporary emergency authority to impose a new short-term global import tax, a provision never previously used this way, raising questions about the statute's reach and prompting political fallout, calls for consumer refunds, and intensified partisan divisions over trade policy.
February 21, 2026
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Tariff authority: President seeks to impose a higher global tariff using alternate legal powers after court rebuke.
The President seeks to impose a higher global tariff relying on alternative executive authority and statutory avenues requiring Commerce Department investigations, while a separate executive order established a temporary import tax limited in duration and contingent on legislative extension; this raises constitutional questions about the allocation of tariff-setting and taxation powers and uncertainty over funds already collected.
February 21, 2026
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Presidential tariff authority raised a temporary global import surcharge, altering trade deal dynamics and exemptions for critical goods.
The executive invoked trade act authority to impose a temporary global import surcharge, increasing a recently announced ad valorem levy and reserving the right to issue further legally permissible tariffs within a 150 day period; the proclamation excludes specified critical minerals, energy products, select agricultural goods, pharmaceuticals, certain electronics, passenger vehicles and aerospace products, and the surcharge is applied in addition to existing Most Favoured Nation import duties, affecting ongoing bilateral trade negotiations.
February 21, 2026
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Criminal breach of trust: bail denied due to complex fund diversion, risk of evidence tampering and undisclosed antecedents.
Refusal of bail rested on prima facie findings that the NBFC owner-director engaged in calculated, layered diversion of investor funds amounting to criminal breach of trust; investigation remained at a nascent stage with a complex money trail requiring forensic analysis and a real risk of evidence tampering, compounded by the applicant's non-disclosure of prior criminal antecedents and insufficient medical justification.
February 21, 2026
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Presidential authority on emergency economic powers challenged; administration announces higher worldwide import levies pending new tariff rules.
President announced an immediate increase in the worldwide import surcharge to a higher legally framed rate and stated the administration will determine new legally permissible tariffs; this follows a Supreme Court decision holding that reliance on IEEPA to impose sweeping duties exceeded presidential authority and has affected bilateral tariff arrangements under an interim trade framework with India.

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Handle differences from strategic, long term perspective, China on talks between Misri, Ma Zhaoxu

February 11, 2026

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Beijing, Feb 11 (PTI) India and China should handle their ties from a strategic and long-term perspective, properly managing differences and expanding cooperation, the Chinese Foreign Ministry has said on Tuesday’s strategic dialogue between the two countries held in New Delhi.

Foreign Secretary Vikram Misri and Chinese Executive Vice Minister of Foreign Affairs Ma Zhaoxu held the India-China Strategic Dialogue, during which they discussed the whole gamut of the bilateral ties.

Ma is in India to participate in the BRICS Sherpa meeting.

Both sides had friendly, candid and in-depth communication on the international and regional situation, respective internal and external policies, international and regional issues of shared interest, and China-India relations, a Chinese Foreign Ministry press release here last night said on Misri, Ma talks.

Both sides underlined that, given the complex and profound changes in the international situation, China and India should work together to earnestly implement the important common understandings reached between President Xi Jinping and Prime Minister Narendra Modi, view and handle China-India relations from a strategic and long-term perspective, it said.

As part of the common understanding between the two leaders, both countries should uphold the strategic perception that China and India are cooperative partners instead of rivals, and the two countries are each other's development opportunity instead of a threat, it said.

China and India should deepen mutual trust and expand cooperation, properly manage differences, and promote the development of the relations along a sound and steady track, it said.

Both sides agreed to support each other's work as the BRICS Chair for 2026 and 2027, it said.

Both sides agreed to support multilateralism and the central role of the United Nations, strengthen unity and cooperation among the Global South, safeguard international fairness and justice, work together for a multipolar world, and make contributions to peace and development in Asia and the world at large, it said.

The Ministry of External Affairs said in its press release that the two sides exchanged views on a wide gamut of issues covering bilateral, regional and international affairs.

In their talks, Misri and Ma primarily focused on steps taken by the two sides to stabilise and rebuild bilateral ties that had come under severe strain following the over four-year military standoff in eastern Ladakh.

In the meeting held under the framework of India-China Strategic Dialogue, both sides recognised the need for an early conclusion of an updated air services agreement.

External Affairs Ministry spokesperson Randhir Jaiswal said both sides reviewed the "positive momentum" in bilateral relations and discussed ways to further advance ties by enhancing people-to-people exchanges and "addressing concerns on sensitive issues".

Though Jaiswal did not elaborate on the "sensitive issues", it is understood that the Indian side has been concerned over China's export control measures relating to rare earth minerals.

An Indian readout of the Misri-Ma meeting said the discussions primarily "focused on the recent progress made in stabilising and rebuilding bilateral ties and ways to take bilateral engagement forward." "Both sides underscored the importance of peace and tranquillity in the border areas for overall progress in bilateral relations".

"They reiterated their commitment to implement the guidance provided by their leaders ,including on the need to proceed from a political and strategic direction to approach issues and concerns related to bilateral trade," it said.

The MEA said Misri noted the successful resumption of the Kailash Mansarovar Yatra and hoped for the continued expansion of the scale of the Yatra.

"Both sides recognised the need for an early conclusion of an updated air services agreement. The two sides agreed to continue to take practical steps for visa facilitation and promote people-to-people contacts," it said.

Misri and Ma also discussed various regional and international issues.

In the last few months, India and China have initiated a series of measures to normalise their relations after ending the military face-off along the Line of Actual Control (LAC) in October 2024. PTI KJV

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