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    Rupee falls 5 paise to close at 90.66 against US dollar
    SUPREME COURT-HIGHLIGHTS
    Spectrum allocated to telcos not asset, can't be subjected to insolvency process: SC
    Rajasthan has Rs 4.88 lakh crore of priority sector lending potential in FY27: NABARD
    ED attaches Rs 200 crore worth assets in Andaman bank fraud case
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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.
February 13, 2026
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Technology sector urged to pursue trillion-dollar ambition by 2035 with tax incentives, clean energy and AI focus.
The minister urged the technology sector to pursue a trillion-dollar ambition by 2035 through applied AI, a 10 GW data centre capacity target by 2030, and strengthened clean energy integration, backed by income tax benefits for qualifying investments through 2047 to boost FDI, jobs and the data centre ecosystem, while emphasizing cybersecurity, data integrity, AI education, industry-led engagement with government facilitation, and coordinated action with states to streamline approvals and electricity access.
February 13, 2026
Show AI Summary
Customs reforms introduce trust-based governance and an integrated digital ecosystem to simplify clearances and aid trade.
Reforms introduced in the Union Budget 2026-27 emphasise trust-based governance, simplification of customs procedures, and implementation through staff sensitisation across Mumbai Customs operations; a single integrated digital ecosystem connecting export-import stakeholders and participating agencies is being pursued to accelerate clearances, strengthen business planning, and improve ease of doing business, with FAQs released for public facilitation and ongoing stakeholder consultations to address industry queries.
February 13, 2026
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Low voltage motor business acquisition approved; Innomotics to acquire Siemens' unit in India through a slump sale.
The Competition Commission of India approved a proposed combination for the slump sale of the low voltage motor business of Siemens Limited to Innomotics India Private Limited. The Target Business sells low voltage motors for industrial applications in India and exports under an outsourced manufacturing model. Innomotics, part of KPS Capital Partners, is an industrial motors manufacturer supplying high and medium voltage motors and large drive systems to sectors including oil and gas, metals, cement, power and marine. A detailed order will follow.
February 13, 2026
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Acquisition of ~6.63% stake in Valuedrive by Fidelity Funds via CCPS subscription and secondary purchase.
The proposed transaction involves acquisition of approximately 6.63% minority shareholding in Valuedrive Technologies Private Limited by Fidelity group investment funds through a mix of primary subscription and secondary acquisition of compulsory convertible preference shares, with Fidelity Funds acting as diversified investment vehicles. Valuedrive is an operating-cum-holding company in the Spinny Group operating an electronic wholesale motor-vehicle platform and owning subsidiaries in lending, insurance broking, automotive publishing/events, and ancillary services.
February 13, 2026
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Amundi ICG proposed combination approved: Acquirer to buy 4.64% voting shares, nominate a director and subscribe to non voting instruments.
CCI approved Amundi's acquisition of 4.64% voting share capital of ICG via on-market purchases, a right to nominate a director, and subsequent subscription to non voting instruments up to 5.26% of ICG's capital. The Acquirer lacks direct Indian operations but is indirectly present through a minority joint venture that offers asset management services in India. The Target operates globally as an alternative asset manager across structured capital, private equity, real assets, private debt, and credit markets.
February 12, 2026
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Aadhaar card tracing: High Court directs Centre and state to create an SOP for faster police access.
The High Court directed central and state governments to formulate an SOP for police access to Aadhaar card details to enable faster tracing of victims, stressing expedited procedures for missing children and suspected human trafficking; it ordered the Unique Identification Authority director be made a party, received a report from the state legal services authority on action taken after an alleged assault, and scheduled further hearing.

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BJP govt's budget is shaped by public suggestions: Haryana CM Saini

February 17, 2026

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Chandigarh, Feb 17 (PTI) Asserting that the BJP government's budget is the people's budget, which is shaped by public suggestions, Chief Minister Nayab Singh Saini on Tuesday asserted that the upcoming state budget will fulfil the aspirations and expectations of the people.

Referring to Haryana's economic position, he said that according to figures released by the Planning Department on January 29, 2026, the state's Gross Domestic Product (GDP) for 2025-26 (advance estimates) stands at Rs 13,67,769 crore, compared to Rs 12,13,951 crore in 2024-25, reflecting a growth rate of 12.67 per cent.

He added that the state's per capita income for 2024-25 is Rs 3,58,171, significantly higher than the national average of Rs. 2,19,575, placing Haryana among the top five states in the country.

Saini said that the upcoming state budget will provide a strong foundation for the state's development roadmap, welfare priorities, and future planning. The budget session of the Haryana Assembly will begin here on February 20.

The Chief Minister said that on March 17, 2025, he had presented his first budget as Finance Minister in the Vidhan Sabha. He described it as a people's budget shaped by public suggestions rather than merely a government document.

He said that 248 announcements were made in that budget, out of which 77 have already been fully implemented, while work on 165 announcements is in the final stages. Saini said the upcoming Budget for 2026-27 will fulfil the aspirations and expectations of the people.

"We had sought suggestions from people regarding the budget and 12,400 suggestions have been received... Nearly 4,000 to 5,000 suggestions will be incorporated in the budget for 2026-27," he told reporters here.

He said that over the past 10 years, Haryana's per capita income has consistently increased, rising from Rs. 1,47,382 in 2014-15 to the current level, reflecting nearly two-and-a-half-fold growth.

The actual expenditure of all state departments was Rs. 1,75,801 crore in 2024-25, compared to Rs. 61,904 crore in 2014-15. In the current financial year, the actual expenditure till February 16, 2026, stands at Rs. 1,59,747 crore and is expected to reach around Rs. 2 lakh crore by March 31, 2026, which would be nearly 98 per cent of the Budget estimate.

He further said this would be the first time in history that such a high proportion of the Budget is utilised. Responding to opposition criticism, the Chief Minister said actual expenditure on the economy during the BJP government's tenure has been nearly three times that of previous governments.

He added that more than 80 per cent of the allocated expenditure for 2025-26 has already been incurred by around 11 departments, including Police, Transport, Revenue and Medical Education and Research. Around 21 departments have recorded over 70 per cent expenditure and about 18 departments over 60 per cent.

Taking a dig at the opposition, he said those under whose tenure the system was weak are now questioning financial management. He said the fiscal deficit is the best indicator of financial management.

The state's fiscal deficit for 2024-25 stood at 2.83 per cent of GDP, compared to 2.88 per cent in 2014-15, both within the FRBM limit of 3 per cent, indicating improved fiscal discipline..

Saini said that as per the recommendations of the 16th Finance Commission (2026-31), Haryana's share in central taxes has increased from 1.093 per cent to 1.361 per cent, marking an increase of 24.52 per cent over the 15th Finance Commission period.

He said this increased share reflects the state government's strong financial credibility and effective policy framework..

Referring to employment, he cited a NITI Aayog working paper published, stating that while about 90.61 lakh people were employed in government and private sectors in 2004-05, the number declined to 86.93 lakh in 2014-15.

However, by 2023-24, employment had risen to 1.10 crore across sectors. This indicates that while nearly 3.68 lakh people lost employment between 2004 and 2014, about 27 lakh new employment opportunities have been created by 2023-24, he said.

On education, he said the Gross Enrolment Ratio (GER) in higher education has increased from about 27 per cent during 2004-14 to 34 per cent during 2015-25. The number of universities in the state, which was around 45 between 2005 and 2014, has increased significantly with the establishment of 60 new universities between 2015 and 2025.

He questioned critics who claim a decline in education standards, asking whether these figures do not reflect progress in the education sector. He said that according to the white paper issued by the Finance Department, the state's own revenue stood at Rs 25,567 crore in 2013-14. By 2024-25, this had increased to Rs 77,943 crore.

Between 2004 and 2014, MSME activity remained limited, with around 33,000 units registered. However, between 2015 and 2025, more than 20 lakh MSMEs were registered on the Udyam and Udyam Registration portals, bringing a large number of small enterprises into the formal system.

Between April 2024 and March 2025, Haryana's total exports stood at 19.10 billion US dollars, reflecting the state's growing strength in both investment and exports. From 2015 to 2024, Haryana's total exports were USD 132.13 billion, whereas from 2004 to 2014, that is, the previous 10 years, they were only USD 61.60 billion, he said. PTI SUN ANU MR

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