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September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.
September 1, 2026
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Windfall gains tax on petroleum exports rises for petrol and diesel while aviation turbine fuel levy is reduced.
Special additional excise duty and road and infrastructure cess on petroleum-product exports are revised with effect from 1 September 2026. The export duty on diesel is increased, the levy on aviation turbine fuel is marginally reduced, and a duty is imposed on petrol exports. Existing duty rates for petrol and diesel cleared for domestic consumption remain unchanged. The windfall-tax framework seeks to support domestic fuel availability and deter exporters from benefiting from domestic and international price differences.
September 1, 2026
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Automated Free Sale and Commerce Certificate issuance reduces manual scrutiny while preserving risk-based review for eligible exporters.
DGFT has enabled automated issuance of Free Sale and Commerce Certificates through its portal for eligible exporters of items not covered by the Drugs & Cosmetics Act, 1940. Applications satisfying prevailing framework and automated processing parameters may be issued without manual scrutiny. Applications requiring verification or not meeting those parameters may be routed for manual processing, while auto-approved applications may be flagged later for risk-based review. The mechanism seeks faster, more transparent and predictable processing while retaining necessary oversight.
September 1, 2026
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Five-day banking and equitable performance incentives drive planned nationwide bank union strike amid unresolved pension demands.
United Forum of Bank Unions has proposed nationwide strike action over delayed five-day banking, the performance-linked incentive framework, and unresolved pension demands. Five-day banking was agreed under the 12th Bipartite Settlement/9th Joint Note with extended Monday-to-Friday working hours, but remains pending for implementation. Unions challenge the incentive scheme for departing from a uniform, bank-performance-linked approach and for disproportionately benefiting senior officers. The dispute is under conciliation and pending before the Delhi High Court, while pension updation, a uniform dearness allowance formula, and an old pension scheme option remain unresolved.
September 1, 2026
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Equity market volatility intensified as higher crude prices, geopolitical tensions and tighter monetary expectations weakened domestic investor sentiment.
Indian equity markets closed marginally lower as higher crude oil prices, US-Iran tensions, and expectations of prolonged tight United States monetary policy weakened risk appetite. The phased Closing Auction Session contributed to a late recovery in the benchmark index. Rising crude prices and global bond yields triggered broad-based selling across several domestic sectors, while foreign institutional equity sales and weakness in overseas markets added to pressure despite stronger-than-expected domestic economic growth.
September 1, 2026
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GST revenue collections show higher gross and net receipts alongside increased refunds and state-level settlement data.
GST revenue collections for August 2026 recorded total gross GST revenue of Rs. 1,99,853 crore, reflecting 14.8% growth over August 2025. Total refunds were Rs. 31,795 crore, including domestic refunds and export IGST refunds processed through ICEGATE. After adjustment of refunds, total net GST revenue was Rs. 1,68,057 crore, representing 8.3% growth. SGST collections and the SGST component of IGST settlement were separately identified for States and Union Territories, with post-settlement SGST aggregating Rs. 95,531 crore.
September 1, 2026
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Trade facilitation and customs preparedness feature in AILBIEA's Silver Jubilee knowledge conference on liquid bulk commerce.
AILBIEA's Silver Jubilee programme focuses on trade facilitation, customs modernisation, GST dispute preparedness and maritime-risk issues affecting liquid bulk trade. The Knowledge Conference includes sessions on the Authorised Economic Operator advantage, next-generation customs technology, GST Appellate Tribunal-era dispute preparedness, and geopolitical risks to sea-borne trade. It also marks the launch of AGS 360, integrating port information, vessel tracking, port-call estimates and maritime intelligence.
September 1, 2026
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Personal guarantor insolvency: repayment plan stayed pending majority determination, with restraint on direct or indirect asset alienation.
Personal-guarantee insolvency proceedings involve a stay on implementation of a repayment plan because the earlier members' views did not produce a clear majority capable of taking effect. The personal guarantor has been restrained from directly or indirectly alienating assets pending further hearing. The dispute follows split views on approval of the plan, claim admission and voting, followed by a third-member opinion that did not resolve the absence of a determinative majority. Creditors dispute the proposed recovery, claim treatment and declared net worth relevant to the guarantees.
September 1, 2026
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Rupee exchange-rate movement reflects portfolio inflows, growth data and possible central-bank support, while crude oil prices constrain gains.
Foreign-exchange market conditions strengthened the rupee by 28 paise to 94.94 against the US dollar, supported by domestic growth, controlled fiscal slippage and portfolio inflows. Possible Reserve Bank of India intervention was also identified as supportive. Higher crude oil prices, weak domestic equities and hawkish US monetary-policy signals were identified as constraints on further appreciation. Foreign investment flows, stronger-than-expected domestic growth and the fiscal-deficit position remained material factors affecting currency conditions.
September 1, 2026
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Money-laundering probe into public service recruitment irregularities examines alleged question-paper leaks, selection manipulation, and laundering through purported CSR donations.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in Public Service Commission recruitment examinations. Allegations include question-paper leaks, manipulation of candidate selection, and illegal gratification for securing appointments of relatives and favoured candidates. Recruitment rules were allegedly amended to facilitate selection of relatives. Alleged proceeds of crime were collected in cash and routed through layered banking transactions, including through a family-controlled samiti presented as receiving corporate social responsibility donations for a non-existent college.
September 1, 2026
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Personal guarantor settlement scrutiny intensifies as asset alienation is restrained pending review of a disputed creditor repayment proposal.
A five-member special bench found that no clear majority view existed under section 419(5) of the Companies Act and stayed the third member's order that had permitted the proposed recovery. Notices were directed to all parties, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. The dispute concerns approval of a personal guarantor's repayment proposal, treatment of guarantee claims, creditor voting support, assessment of the personal estate, and scrutiny of declared net worth.
September 1, 2026
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Personal insolvency proceedings restrict property alienation while notices issue to parties in the debtor's case.
A five-member special National Company Law Tribunal bench hearing Subhash Chandra's personal insolvency matter issued notices to all parties and restrained him from alienating property directly or indirectly. The restraint applies during the continuing insolvency proceedings and concerns dealings with the relevant property. The procedural measure requires the interested parties to participate in the matter.
September 1, 2026
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Aadhaar authentication alternatives enable eligible farmers with failed fingerprint verification to access loan-waiver benefits after identity verification.
Elderly farmers whose fingerprints cannot be captured for Aadhaar authentication may approach an Aaple Sarkar Seva Kendra with their Aadhaar card and bank passbook. Loan-account details are verified on the scheme portal before authentication is initiated. If authentication fails, the concerned tehsildar verifies identity using the Aadhaar card, bank passbook and 7/12 land record extract. Eligible farmers receive loan-waiver benefits directly in their bank accounts after authentication, identity verification and satisfaction of the scheme's eligibility criteria.
September 1, 2026
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GST collection growth reflected higher domestic and import revenue, while increased refunds moderated net collections during August.
GST collections recorded year-on-year growth in August, with gross receipts reaching about Rs 2 lakh crore. Domestic transaction revenue increased to over Rs 1.37 lakh crore, while import-related revenue rose to Rs 62,604 crore. Refunds increased to Rs 31,795 crore, and net GST collections stood at Rs 1.68 lakh crore after refunds.
September 1, 2026
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Personal insolvency repayment plan faces fresh hearing after a split bench prevents enforcement and restrains guarantor property transfers.
Personal insolvency proceedings were reopened before a five-member special bench after a split view on a repayment plan. As no majority view existed, including that of the third member, no final order was in force and the repayment-plan determination could not be acted upon. Notices were issued to all parties, including dissenting creditors, and the guarantor was restrained from directly or indirectly alienating property pending further consideration. Dissenting creditors also challenged the repayment-plan determination before the appellate tribunal.
September 1, 2026
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Equity market sentiment weakens as higher crude prices, geopolitical tensions and tighter monetary policy expectations curb risk appetite.
Equity-market sentiment weakened as higher crude oil prices, renewed US-Iran tensions, and expectations of prolonged tight US monetary policy reduced emerging-market risk appetite. The Sensex and Nifty declined, while domestic GDP growth above projections offered partial support. Weakness in several Asian markets, a lower US market close, and net foreign institutional equity sales reinforced cautious trading conditions.
September 1, 2026
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Money laundering investigation triggers searches linked to alleged Public Service Commission irregularities, including premises of a former chief minister's assistant.
A money-laundering investigation under the Prevention of Money Laundering Act has led to searches at seven locations in Chhattisgarh in connection with alleged irregularities at the Chhattisgarh Public Service Commission. The search operation includes the premises of K. K. Chandrakar, personal assistant to former Chief Minister Bhupesh Baghel. The investigation remains at the search and inquiry stage.
September 1, 2026
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Income-tax return filing: non-audit business and professional taxpayers use applicable forms by prescribed due dates.
August 31, 2026 was the due date for taxpayers having business or professional income who were not subject to audit. Such non-audit taxpayers may use ITR-3, ITR-4, ITR-5 or ITR-7, as applicable. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, while ITR-4 is intended for small and medium taxpayers. ITR-5 applies to firms, limited liability partnerships and cooperative societies, and ITR-7 applies to trusts and charitable institutions.

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Customs & Trade

Green Pulse Update: MSMEs Accelerate Environmental Action and Strengthen Implementation Momentum

February 12, 2026

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The index reflects growing sustainability willingness (+10%) and implementation (+18%) as MSMEs show greater readiness to embed sustainability into core operations, despite softer awareness. MUMBAI, India , Feb. 12, 2026 /PRNewswire/ -- Dun & Bradstreet, a leading global provider of business decisioning data and analytics, along with SIDBI, released Sustainability Perception Index (SPeX), referred as the 'Green Pulse Indicator' for July-September 2025 period. SPeX evaluates Micro, Small and Medium Enterprises' (MSME's) perception of sustainability across three dimensions: willingness, awareness, and implementation. The SPeX Index moderated 2% YoY to 62, driven primarily by a decline in sustainability awareness, particularly among micro and medium enterprises. Despite this moderation, the findings point to a clear shift from awareness to action. Environmental priorities, especially recycling and sustainable packaging, continue to gain momentum, with older and medium-sized firms are leading the expansion of sustainability initiatives. While challenges such as funding constraints and technical capacity persist, MSMEs are increasingly aligning with global sustainability trends and building capabilities across key pillars. With targeted support, this momentum could translate into scalable, long-term impact. Dr. Arun Singh, Global Chief Economist, Dun & Bradstreet, said, "While overall scores dipped 2% year-on-year due to lower awareness among micro and medium enterprises, there was a strong rise in willingness and implementation. This shows that many firms are shifting from understanding sustainability to actively adopting it. Older businesses continue to link sustainability with better export access, while more MSMEs now see it as a path to higher profits and stronger reputations. There is also a noticeable shift from governance reforms to environmental action, with recycling and sustainable packaging gaining momentum. Despite financial challenges, especially for older firms, MSMEs are prioritizing sustainable supply chains. With the right policy and financial support, they are well-placed to drive inclusive and resilient growth in the coming quarters." Dr. Ravindra Kumar Singh, Chief General Manager, Green Climate Finance Vertical, SIDBI stated, "The latest Green Pulse Survey, for the Quarter July – September 2025, results are a powerful indicator that sustainability is not just a moral imperative, but a sound business strategy. The unprecedented 90% confidence level among businesses aged 25 years and older that sustainability adoption will enhance profitability — a five-quarter high — underscores a clear market shift. Enterprises are increasingly recognizing the tangible benefits of integrating environmental and social factors into their core operations. While our established "Panchatatva" Missions- spanning Energy Efficiency, Renewable Energy, E-Mobility and Circular Economy and Nature Based Solutions – are accelerating this momentum, SIDBI's endeavour to bring in more Innovative and Impactful Initiatives continue. This includes the upcoming GCF funded "Financing Mitigation and Adaptation Projects (FMAP) for Indian MSMEs and the "EN-Trans" RSF Facility for nanopreneurs and micropreneurs. These initiatives are designed to meet the growing demand for green finance and to support MSMEs in their transition to a cleaner, more resilient, and ultimately, more profitable future. These collaborative efforts, blending traditional wisdom with modern climate finance mechanisms, are crucial to accelerating the transition to a low-emission, climate-resilient economy for the envisioned Viksit Bharat." Highlights of the SPeX Report – Q3 2025 Overall Trends • The SPeX Index declined 4.6% QoQ to 62, driven by a fall in the awareness pillar. • Although MSMEs awareness around sustainability declined in Q3, firms are increasingly transitioning from awareness to implementation, with 54% now classified as "integrators." • Willingness to implement environmental policies — especially recycling and sustainable packaging surged, replacing governance reforms as the top priority. • A majority of MSMEs recognised sustainability as a lever for profitability (86%), cost reduction (69%), and export market access (72%), aligning with global policy trends. • Despite growing intent, 45.2% of MSMEs lacked dedicated sustainability budgets, and only 16.3% allocated between 5–10% of their total expenditure, highlighting financial constraints. • Bihar, Tripura, and Goa show a 5% QoQ rise in SPeX scores, while Chhattisgarh and Madhya Pradesh experience sharp declines, indicating uneven regional progress in sustainability adoption. Awareness • Awareness among MSMEs declined by 14% QoQ, the lowest in 10 quarters. • Micro and medium enterprises noted the sharpest drop, with mid-aged (5–10 years) and older firms (25+ years) experiencing a 12-percentage point decline. Despite the fall, 55% of firms are actively gathering information on government reforms, and 41% are consolidating data for social initiatives—indicating a shift toward implementation readiness. • News and social media have emerged as the most trusted sources for sustainability information (37%), surpassing government platforms (20%), especially among micro businesses. • Awareness of sustainability benefits — like profitability and export access — is rising, with 86% of MSMEs recognising profit gains, a rise of 10 percentage points QoQ, and 72% acknowledging improved market reach, especially among older firms. Willingness • Willingness to implement sustainability measures increased by 10% QoQ, led by older and mid-aged businesses, marking the sharpest increase since Q4 2023. • MSMEs prioritised Reduce, Reuse, Recycle (3R) (31%) and DEI reforms (25%), over employee welfare (18%) and full compliance with the guidelines and the regulations (11%) in Q3 2025. • 60% of MSMEs focused on making supply chains more sustainable and 57% on updating existing strategies. • Medium enterprises have shown strong intent, with 90% planning to expand environmental initiatives — a 53 percentage point surge—while micro enterprises saw a 22-point rise in full implementation readiness. • Peer pressure, cost efficiency, and monetary and non-monetary incentives remain key motivators across business sizes and ages to adopt sustainability practices — with younger firms and micro enterprises especially influenced by competitive dynamics. • Despite reduced focus on employee welfare, businesses across all age groups are actively building expertise in sustainability, with 64% expanding strategies and 62% improving supply chains. Implementation • Implementation scores rose by 18% QoQ, led by medium enterprises and businesses aged 10–25 years, indicating a strong recovery from Q2 2025. • Recycling and sustainable packaging has gained traction, with 46% of MSMEs implementing recycling procedures and 50% of micro enterprises adopting sustainable packaging, an increase of 31 percentage point QoQ. • Medium businesses lead the focus on environment reforms/policies, with 65% in process of implementing sustainability training and 90% expanding environmental initiatives. • Cost of implementation, lack of technical expertise, and capital availability remain consistent challenges across all sizes and ages, though internal management resistance has notably declined. • Younger businesses are increasingly planning full compliance, with 58% of firms aged 1–5 years preparing for prompt implementation, while older firms continue to face cost-related barriers despite high intent. • Goa is the only state out of the total 22 states surveyed, where majority of respondents – 14% are already implementing sustainability measures. Methodology The SPeX Index ranges from 0 to 100 and tracks MSMEs' evolving perception of sustainability. Movements in the index reflect changes across three key dimensions: • Awareness – understanding of sustainability measures and policy support. • Willingness – intent and motivation to adopt sustainability practices. • Implementation – actual execution of sustainability actions. An increase in the SPeX value indicates strengthening perceptions and adoption momentum, while a decline signals emerging challenges or weakening sentiment. The findings are based on a survey of MSMEs across 22 states, covering micro, small, and medium enterprises across different business age groups. The survey was conducted for the period July–September 2025 with a statistically valid sample size. About Dun & Bradstreet: Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com. Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions in domains of finance, risk, compliance, information technology and marketing. Working towards Government of India's vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity. India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses. Visit www.dnb.co.in for more information. Click here for all Dun & Bradstreet India press releases. About SIDBI: Small Industries Development Bank of India (SIDBI) in its role as the Principal Development Finance Institution for MSME sector has played a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilaterals like World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth, and competitiveness in long run during prevailing climate related challenges. Looking to importance of ESG aspects and the need for a simplified, Customised ESG risk rating framework, SIDBI has already started integration of ESG framework into its operations. Subsequent to setting up of Green Climate Finance Vertical for prioritised focus, a Board level Committee has been constituted for guidance, oversight, and monitoring on ESG, Green Strategy of the bank, including relevant SDGs etc. To lead with the example, SIDBI has set a target to become Carbon Neutral by 2024 and Net Neutral organization in subsequent years. Through Green Financing products and other developmental activities, SIDBI enables the manufacturers and service providers in MSME sector to adopt green energy efficient technologies helping in lesser waste leading to positive impact on environment and sustainability. Visit www.sidbi.in for more information. Disclaimer: This report and index are based on aggregated and anonymised survey responses and reflect respondents' perceptions. They do not constitute a sustainability rating, certification, regulatory advice, or a forecast or guarantee of business performance. All insights are indicative and intended for informational purposes. Photo - https://mma.prnewswire.com/media/2902102/SPeX_Q3_2025_Graph.jpg' alt='Embedded Media' /> Logo - https://mma.prnewswire.com/media/2867256/Dun_Bradstreet_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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