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February 23, 2026
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Exchange rate volatility: Rupee edges higher as oil weakness supports the currency while geopolitical tensions cap gains.
Exchange rate movement recorded the rupee appreciating modestly against the US dollar, settling marginally stronger after declines in global crude oil prices and a softer dollar. Market dynamics included importer and foreign portfolio investor dollar purchases on dips, rising domestic debt yields that capped gains, and geopolitical tensions limiting upside. The report also notes that India's foreign exchange reserves rose to a new high, a factor relevant to reserve adequacy and forex market liquidity.
February 23, 2026
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Flexible inflation targeting review may adjust the CPI inflation target after adoption of a new CPI series.
The RBI will incorporate the new 2024-base CPI series, which broadens the consumption basket and reduces volatility, into upcoming CPI projections and the April policy estimate; this change occurs alongside the review of the flexible inflation targeting regime and the government's periodic determination of the CPI inflation target, for which the RBI has submitted recommendations after stakeholder consultation.
February 23, 2026
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Banking sector review to explore creation of mega-lenders while no current roadmap for public sector bank mergers.
No roadmap exists for public sector bank mergers; the Budget proposes a High-Level Committee on Banking for Viksit Bharat to review the sector and explore creation of mega-lenders while safeguarding financial stability, inclusion and consumer protection. The Budget also proposes restructuring select public sector NBFCs to improve scale and efficiency. The central bank states banks are adequately capitalised to sustain credit growth and notes rising gross FDI alongside moderated net FDI due to repatriations and increased outward investment.
February 23, 2026
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Privacy guidelines extended to advertising data; companies to comply and furnish compliance report following tribunal directions.
Extension of privacy and consent safeguards to advertising-related user data is required, with Meta and WhatsApp indicating they will implement NCLAT directions to apply CCI standards to data collection and sharing for advertising. Stay applications were dismissed without prejudice and a compliance report was ordered. The CCI will examine the companies' affidavit on privacy policy and file a response, while its cross-appeal challenges the tribunal's modification permitting advertising-related data-sharing; a monetary penalty previously imposed by the CCI was retained by the tribunal.
February 23, 2026
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Tariff ruling spurs safe-haven demand, lifting precious metals prices amid renewed trade-policy uncertainty and tariff adjustments.
A US Supreme Court ruling against the contested tariff measure and a subsequent executive increase in the global tariff rate from ten per cent to fifteen per cent intensified trade-policy uncertainty, triggering cross-asset volatility and prompting safe-haven demand that drove silver and gold to multi-week highs in domestic and international markets.
February 23, 2026
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Skill development and sustainability urged to boost competitiveness through technology, design innovation and industry collaboration for graduates.
FDDI's 5th convocation conferred degrees and academic medals across programmes, with the institute stressing its contribution to skill development, research, innovation and industry engagement in the footwear, leather, fashion and retail ecosystem. Speakers urged adoption of technology, sustainability and design innovation to enhance global competitiveness, noted sectoral support for employment and MSME growth, and highlighted Hyderabad campus developments including a Centre of Excellence, modern laboratories and strengthened industry collaborations.
February 23, 2026
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Mis-selling prohibition: banks must stop bundling non-bank products and refund customers with compensation when mis-selling occurs.
Banks must stop mis-selling non-bank financial products and prioritise core banking-mobilising deposits, improving CASA, understanding customers, and lending responsibly. The Finance Minister supported RBI draft guidance that mandates full refunds and compensation for mis-selling and highlighted regulatory gaps between banking and insurance supervisors. The RBI characterised upcoming stricter mis-selling norms as consumer protection measures with effect from the announced implementation timeline.
February 23, 2026
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Workplace certification signals sustained employee trust and cultural investments as bank advances toward universal banking transition.
AU Small Finance Bank's consecutive workplace certification, grounded in employee feedback and an improved Trust Index Score, evidences its focus on employee trust and culture. The recognition reflects targeted investments in leadership, learning and development, inclusion, career mobility and a strengthened digital and IT capability to create future-ready roles, supporting the Bank's strategic progression toward universal banking.
February 23, 2026
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Regulatory clarity for crypto mining: compliance with tax, KYC and disclosure regimes shapes viable mining operations.
India's bitcoin mining market is professionalising as buyers shift to energy efficient ASICs and localised support while infrastructure improvements enable co location and data centre deployments. Electricity availability and sustainability measures (including hybrid renewables and off peak strategies) materially affect operational viability. Mining remains permitted within broader tax, AML, exchange control and emerging disclosure frameworks; operators should observe tax and KYC obligations, transparent accounting, and anticipate formalised reporting or environmental disclosure requirements.
February 23, 2026
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Gold import monitoring: government and RBI flag a recent import spike while keeping external account risks in check.
The government and the Reserve Bank of India are monitoring gold imports after a sudden January surge in value and volume; the RBI is analysing data, attributes part of the rise to global central bank purchases and domestic seasonal demand, and considers the situation not yet alarming while noting the current account remains manageable and external-sector resilience intact.
February 23, 2026
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Taxation of capital gains shifted to the company's residence; dividend rates, PE and information exchange provisions updated.
The Amending Protocol reassigns full taxing rights on capital gains from company share sales to the company's State of residence, removes the MFN clause, replaces a single dividend rate with a split withholding regime based on a ten percent ownership threshold, aligns the Fees for Technical Services definition with an established bilateral model, and expands Permanent Establishment to include Service PE.
February 23, 2026
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Banking and regulatory career preparation integrated into a BBA accelerates readiness for Grade A and Grade B recruitment while studying.
An institution launched an integrated BBA programme that combines an accredited undergraduate degree with concurrent, exam aligned preparation for Grade A and Grade B banking and regulatory recruitment. The modular curriculum covers quantitative aptitude, reasoning, English, finance, economics, current affairs, and interview training, delivered by faculty experienced in elite competitive examinations. The programme emphasises mentorship, mock testing, and time optimisation across three undergraduate years to prepare candidates for public sector regulatory posts and allied private financial sector roles.
February 23, 2026
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Quality-led manufacturing: institutionalise uniform standards and testing to convert market access into sustained export competitiveness.
Policy emphasis focuses on a quality-first agenda anchored in the zero defect, zero effect vision to convert expanded market access into export growth. A five-pillar roadmap mandates standard operating processes with continuous compliance and inspection, skilling and reskilling, gap analysis and global benchmarking, streamlined testing and certification, and shared modern testing infrastructure. Government support will finance testing facilities and assist micro and small enterprises in meeting international conformity requirements. The National Quality Conclave's multi-city, sector-specific consultations will feed into a National Quality Roadmap for Manufacturing to coordinate action across government, regulators and industry.
February 23, 2026
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Mis selling safeguards: banks must stop pushing non bank products and refocus on deposit mobilisation and lending.
The Finance Minister urged banks to stop mis selling non bank financial products and focus on core functions of deposit mobilisation and lending. She identified a regulatory gap between banking and insurance regulators that enabled unnecessary insurance sales. The RBI's draft guidelines require full refunds and compensation for mis sold products, invited public feedback until March 4, and set a proposed implementation date of July 1; the RBI also emphasised deposit and credit growth and its approach to policy rate decisions and liquidity provision.
February 23, 2026
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International drug trafficking leads to seizures and arrests after coordinated police and customs operation
An investigation targeted an international drug trafficking syndicate that used export consignments, logistics firms and courier services to smuggle psychotropic tablets abroad. Police coordination with Customs led to interception of a shipment misdeclared as household goods and, after obtaining police custody remand, a joint raid at a port warehouse recovered and seized a massive quantity of psychotropic tablets, following earlier local seizures and successive arrests that mapped the syndicate's supply chain roles.
February 23, 2026
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Tariff policy struck down spurs market rally while raising questions about future trade renegotiations and investor positioning.
The invalidation of the reciprocal tariff policy prompted investor reassessment of trade risks and the possible scope of renegotiations, boosting domestic equities-notably banks, power, FMCG and consumer discretionary-while IT faced pressure; currency moves, long-term yields, crude prices and a shift in institutional flows (foreign selling, domestic buying) moderated the overall market response.
February 23, 2026
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Currency movement: rupee edged higher as oil and dollar softened, but outflows and geopolitics limited gains.
Rupee appreciation to 90.87 was driven by falling global crude and a weaker dollar but capped by foreign fund outflows and geopolitical concerns; importers and FPIs bought dollars on dips, intraday volatility was influenced by equity and debt yields, and the RBI reported a rise in forex reserves.
February 23, 2026
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Mis-selling offence under criminal law prompts banks to stop cross-selling and face refund and compensation obligations.
Mis-selling of financial products is treated as a criminal offence under the Bharatiya Nyaya Sanhita; the RBI's draft mis-selling guidelines require banks to refund the full amount paid and compensate customers for any loss under an approved policy, with the draft open for public feedback and stricter norms proposed to take effect from July 1. The Finance Minister urged banks to focus on core banking activities and address a regulatory gap between banking and insurance oversight, while the RBI framed the guidance within broader deposit, credit growth and liquidity considerations.
February 23, 2026
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SEBI registered advisory: protects investors through fiduciary duty, transparency, suitability and grievance mechanisms.
Unregulated investment advice creates significant investor risk due to lack of accountability and remedies. SEBI registration imposes qualification, recordkeeping, communication limits, and a duty to act in clients' best interests. Registered advisers must provide transparent fee and risk disclosures, assess client suitability, document recommendations to create an audit trail, and operate within formal grievance redressal frameworks, while promoting investor education and disciplined long-term planning.
February 23, 2026
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Emergency powers ruling overturns IEEPA-based tariffs, prompting alternative trade-law tariffs and international uncertainty over trade arrangements.
A high-court decision invalidated tariffs imposed under the International Emergency Economic Powers Act, leading the administration to propose replacement duties under an alternative trade statute. The shift raises questions about US tariff authority, potential refunds for taxes collected under the invalidated measures, and the stability of negotiated trade arrangements, while affected trading partners pursue assessments and diplomatic consultations to mitigate harm to exporters.

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WORLD CLIMATE ACTION LEADERS, CITIZEN GROUPS, CORPORATES TO CONVERGE IN MUMBAI FOR GLOBAL SOUTH'S FIRST MUMBAI CLIMATE WEEK

February 11, 2026

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• Over 100 institutions, 400 speakers including Bill Gates, Hillary Clinton, Union Ministers, International governments, Sachin Tendulkar, Cosmonauts, among those in attendance. • From 17–19 February 2026, Mumbai will host the inaugural Mumbai Climate Week (MCW) MUMBAI, India, Feb. 11, 2026 /PRNewswire/ -- Over three days, the city will become a Global South climate leadership stage, as heads of government, global and Indian business leaders, climate innovators, philanthropies, youth and community voices come together to move from climate dialogue to action. With entry by invitation and registration, but free, climate enthusiasts are expected to attend in the thousands. Citizens can register on www.mumbaiclimateweek.com. MCW will do this through a central hub at the Jio World Convention Centre and a citywide network of campus, community and cultural events that showcase and scale real-world climate solutions. The global conversation on climate is being led by award-winning NGO Project Mumbai and is supported by the Government of Maharashtra, the Environment and Climate Change Department, MMRDA and the Brihanmumbai Municipal Corporation (BMC). It positions Mumbai as a living testbed for climate solutions that can be scaled across India and other Global South cities. Speaking about MCW, Maharashtra Chief Minister Devendra Fadnavis said, "Mumbai Climate Week showcases India's resolve to lead with action on climate, from the city level to the global stage. As Mumbai hosts leaders from across India and the world, including governments, businesses, financiers, experts and young people, we are sending a clear message that Maharashtra is ready to work with all partners to build cleaner, safer and more resilient futures for our citizens and for the Global South." "Mumbai has always been a city of grit and imagination, and Mumbai Climate Week is where that spirit meets the climate crisis at scale. This is India's first citizen-led climate movement at this level, where ministers, businesses and experts share the same space as students, frontline workers and neighbourhood volunteers, and where Mumbai can signal what climate leadership from the Global South really looks like," said Shishir Joshi, CEO & Founder, Project Mumbai and MCW. The week follows a hub-and-spoke model. The three-day central hub at Jio World Convention Centre will host leadership dialogues, thematic tracks, the MCW Innovation Challenge, the Youth Green Innovation Challenge and a solutions exhibition arena. Day 1 at the hub will also feature an Earthshot Prize debut evening focused on nature, food systems and people. Presented exclusively at Mumbai Climate Week, the world's most prestigious and impactful environmental award, The Earthshot Prize founded by HRH Prince William, will bring together global climate innovators, frontline solution-builders from the Global South, and leading voices from across India, to spotlight scalable solutions and inspire mass public engagement with climate action. Spoke events have already begun across campuses, neighbourhoods and cultural institutions, and will continue through MCW, including roadshows, art and media activations, and a Sustainability Mela that takes climate action into everyday spaces. MCW will also feature a special space–themed session where Indian space heroes Rakesh Sharma and astronaut Shubhanshu Shukla, both Ashoka Chakra awardees, interact with school students as well as global leadership on 18 February to link space exploration, science and climate responsibility. MCW is powered by a broad partnership architecture. IDFC FIRST Bank is the Principal Partner. Monitor Deloitte serves as Strategic Knowledge Partner, and Tata Institute of Social Sciences (TISS) and IIT Bombay are Academic Partners. VaartaVaran is MCW's citizen-speak platform, inviting people to share their climate perspectives unfiltered. Through talks, poems, storytelling, song and other creative formats, it brings everyday experiences and emotions around climate into the heart of Mumbai Climate Week. Thematic partners and ecosystem contributors include Eversource Capital, India Climate Collaborative, Shakti Sustainable Energy Foundation and World Resources Institute (WRI) India, along with international networks such as Climate Group and C40, and business and industry platforms including Mahindra Group and Indian Merchants Chamber. YuWaah! by UNICEF is the Youth Engagement Partner. Delegations are expected from over 30 countries, alongside leaders from Union and state governments, multilateral agencies, financial institutions, industry, philanthropy, civil society, academia and youth networks, with MCW's success defined by solutions funded, partnerships formed, policies influenced and communities empowered after the week. Global and national leadership at MCW Mumbai Climate Week will feature an eminent line-up of global and Indian leaders shaping climate action across policy, finance, business and civil society. Confirmed international speakers include Hillary Clinton, Bill Gates, Rajiv Shah, representing The Rockefeller Foundation; Imad Fakhoury, Regional Director, South Asia, International Finance Corporation (IFC), World Bank Group; Amanda Leland, Executive Director, Environmental Defense Fund; and Clarisa De Franco, Senior Advisor, Allied Climate Partners. From India's public sector there is an expected galaxy of leadership in attendance which include Shri Bhupendra Yadav, Union Minister for Environment; Union Minister for Renewable Energy Pralhad Joshi, Minister for External Affairs S. Jaishankar, Chief Minister Devendra Fadnavis, Corporate Affairs Minister Piyush Goyal, among others. Indian leadership including business and finance leaders such as Noel Tata, (Chairman Tata Trusts), V. Vaidyanathan (Managing Director & CEO, IDFC First Bank), Amit Chandra (Managing Director, Bain Capital PE India), Ankur Gupta (Managing Partner, Brookfield Asset Management), Jamshyd Godrej (Chairman and Managing Director, Godrej & Boyce), Nadir Godrej (Managing Director, Godrej Industries), Schneider Electric Global CFO Esther Finidori, UNEP Global Head Martin Krause, UNICEF India head Cynthia McCaffrey, Anjalli Ravi Kumar (Chief Sustainability Officer, Zomato), Pratik Agarwal (Chairman, Serentica Renewables) and Sameer Shisodia (CEO, Rainmatter Foundation) will bring perspectives on capital flows, markets and corporate climate action. The philanthropy and knowledge ecosystem will be represented by Rohini Nilekani (Chairperson, Rohini Nilekani Philanthropies), Soumya Swaminathan (Chair, M. S. Swaminathan Research Foundation), Manoj Kumar (Founding CEO, Naandi Foundation), Satyajit Bhatkal (CEO, Paani Foundation), Mridula Ramesh (Founder, Sundaram Climate Institute), Seema Paul (Program Director, India, Sequoia Climate Foundation), Shishir Sinha (Executive Director, Clean Air Fund), Dr Veena Srinivasan (Director, WELL Labs) and other research and impact leaders. MCW will also see participation from leading voices in Indian cinema who have championed environmental causes, including actor and UN Environment/UN SDG advocate Dia Mirza and actor Bhumi Pednekar, known for her 'Climate Warrior' initiative and work on sustainable lifestyles and the SDGs. Across the three days, plenary sessions on sub-national climate action, future cities and climate finance will bring together Chief Ministers and senior leaders from Indian states, underscoring the role of states and cities in driving net-zero, climate-resilient growth. First Ever Citizen Speakers Corner: Mumbai Climate Week will provide a free speaking opportunity to speakers, especially citizens. Across three days, all those who register on the website, for Varta Varan, will get a free speaking slot. Three pillars and theme partners MCW's programme is structured around three core focus areas that sit at the heart of India's climate and development agenda: food systems, energy transition and urban resilience. The food systems pillar is anchored by India Climate Collaborative (ICC), working with a coalition of leading organisations across agriculture, nutrition, markets and finance. The energy transition pillar is supported by partners such as Shakti Sustainable Energy Foundation, Eversource Capital and ISEG Foundation, alongside sectoral experts and ecosystem collaborators. The urban resilience stream is anchored by WRI India in partnership with the HT Parekh Foundation and India Climate Collaborative as thematic partners. Detailed Agenda: A detailed agenda of all three thematic pillars and session-wise programming is available on the MCW website. https://www.mumbaiclimateweek.com/inside-the-hub/ Innovation, youth leadership and citizen engagement Innovation is a cornerstone of Mumbai Climate Week. The MCW Innovation Challenge, led by the National Stock Exchange of India (NSE) as Innovation Challenge Partner, will invite early-stage and growth-ready innovators from startups, civil society, academia and the wider climate ecosystem to present high-impact solutions across three themes. Marico Innovation Foundation, Social Alpha are supporting the Innovation challenge while Climate Collective Foundation has curated a "Climate Redesign Challenge" contest for innovators. Finalists will receive mentoring and visibility and will pitch live at the MCW hub to policymakers, funders, industry leaders, philanthropies and global climate networks. Children and young people will be at the heart of MCW through a dedicated partnership with UNICEF India and YuWaah, the official Youth Engagement Partner for Mumbai Climate Week 2026. Together with Project Mumbai, they will lead youth engagement throughout January and February via a Campus Roadshow and the Youth Green Innovation Challenge for young changemakers aged 16–24. Youth-led innovations across food systems, urban resilience and energy transition will be showcased during MCW, connecting young people directly with experts, policymakers and funders. Beyond the convention centre, MCW's hub-and-spoke design activated a Sustainability Mela and a range of community experiences, including public talks, film screenings, art and culture events, neighbourhood walks and citizen workshops across Mumbai. These activities are designed to make climate action accessible, inclusive and rooted in everyday life, so that residents from diverse backgrounds can see, shape and participate in solutions. Exhibition Arena: The Hub will also host an Exhibition Arena where startups, companies, universities and NGOs showcase practical climate solutions across the themes. Exhibitors are expected to include groups such as Godrej Group, IDFC FIRST Bank, Mahindra Group, Hindustan Unilever and Mirik Tech, alongside impact-led enterprises and community initiatives, giving MCW participants a chance to see and interact with real prototypes and pilots from India and the wider Global South. The exhibition will be open throughout the three days of MCW, enabling policymakers, investors and citizens to discover solutions, offer feedback and explore opportunities for collaboration and scale. A new kind of climate week for India and the Global South Mumbai Climate Week offers a distinctly Indian and Global South–led model for climate action, rooted in citizen engagement and city-level implementation. It reflects India's resolve to lead with action on climate, as highlighted by state and city leadership in positioning MCW as a maiden, global-level climate summit for February 2026. With its Public–Private–People partnership architecture and hub-and-spoke design, MCW aims to become an annual platform where leaders, communities and partners return each year to track progress, scale successful pilots and co-create the next generation of climate solutions from Mumbai for India and the Global South. About Mumbai Climate Week Scheduled from February 17 to 19, 2026, at the Jio World Convention Centre, Mumbai Climate Week will be more than a three-day event. Its impact will be extended through preparatory activities before and synthesis efforts after the main conference, including workshops, case studies, films, testimonials, and follow-up reports. By mobilizing India's vibrant network of climate-focused organizations and movements, it will highlight the nation's pioneering efforts in climate action while charting a bold path forward. Conceptualised & initiated by Project Mumbai, a citizen-driven non-profit founded in 2018, and, in partnership with Government of Maharashtra's Department of Environment and Climate Change, and supported by Brihanmumbai Municipal Corporation, MCW reflects the vision of a dynamic megacity from the Global South stepping into a role of global climate leadership. About Project Mumbai Project Mumbai, founded in 2018 by a former renowned journalist and social entrepreneur Shishir Joshi, is a pioneering not-for-profit initiative that works as a trusted bridge between citizens, government, and private institutions to co-create solutions for the city's most pressing challenges. With a focus on participatory governance, community engagement, and public service, Project Mumbai has consistently mobilized people and partnerships to deliver impact at scale—from mental health initiatives and waste management drives to urban mobility solutions and disaster relief. Its citizen-centric model has earned recognition nationally and internationally as an example of collaborative problem-solving rooted in transparency, trust, and accountability. Logo: https://mma.prnewswire.com/media/2831726/5737009/MCW_Logo.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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