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    Chakraborty was asked to reconsider resignation, elaborate on concerns, change language in letter: HDFC Bank CEO
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    Government approves RELIEF (Resilience & Logistics Intervention for Export Facilitation) – an intervention under Export Promotion Mission to support...
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March 19, 2026
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Ethics concerns prompted board inquiry and regulator engagement, leading to interim chair appointment to preserve governance continuity.
The chairman's resignation citing ethical misalignment prompted the board to seek specific instances and request withdrawal of certain language; unable to secure clarity, the Nomination and Remuneration Committee engaged the banking regulator, which appointed an interim chair to ensure governance continuity. Management maintained there were no substantive issues warranting resignation, described an overseas investigation as closed with accountability fixed, and directed the NRC to address executive reappointment and chairman selection under standard succession processes.
March 19, 2026
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Aadhaar update timelines: call for time bound processing and stronger grievance redressal to reduce RTI and litigation.
Delays and lack of clarity in processing Aadhaar demographic update requests, notably date of birth corrections, led the Commission to urge UIDAI to adopt clear timelines and time bound disposal procedures and to strengthen grievance redressal and public awareness so citizens need not resort to RTI or court petitions.
March 19, 2026
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Export relief scheme RELIEF supports exporters with enhanced insurance cover and reimbursements amid West Asia logistics disruptions.
RELIEF is a time bound Export Promotion Mission intervention designating ECGC Ltd. as the nodal implementing agency to provide enhanced risk coverage for ECGC insured consignments during the disruption period, supported ECGC cover for forthcoming shipments over a defined three month window, and a partial reimbursement mechanism for eligible non insured MSME exporters to offset extraordinary freight and insurance surcharges, subject to documentary verification and notified ceilings; implementation is funded from an approved EPM outlay and monitored via dashboard and periodic steering committee review.
March 19, 2026
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Energy data classified as national security mandates real time disclosure across oil and gas supply chains to central agency.
The Petroleum and Natural Gas (Furnishing of Information) Order, 2026 classifies energy data as national security and requires entities across the petroleum and natural gas supply chain to furnish production, imports, exports, stocks, storage, allocation, transportation, supply, consumption and utilisation data, aggregated or disaggregated by geography, time or consumers, to PPAC in such form, manner, electronic platform and periodicity as specified, and overrides contractual confidentiality or commercial sensitivity claims.
March 19, 2026
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Travel Document Requirements: carry passport, visa, insurance and proof of funds to smooth immigration checks.
Entry into foreign jurisdictions requires organised proof of identity, travel authorisation and intent: carry a valid passport, visa or electronic travel authorisation, proof of onward or return travel and an accessible itinerary in cabin baggage with digital backups. Carry travel insurance documents-policy certificate, coverage summary and emergency contacts-saved offline when required by entry rules. Also present accommodation confirmations, financial evidence and destination-specific health documentation such as vaccination certificates, prescriptions and medical device notes. Consolidate these papers in a single folder and ensure consistency of names and dates across documents.
March 19, 2026
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Export relief scheme extends export obligations and offers logistical and financial support to exporters affected by West Asia conflict.
The government launched a targeted export support scheme to assist exporters disrupted by the West Asia conflict, with ECGC as implementing agency and an inter ministerial group coordinating daily. The scheme covers consignments to specified West Asia destinations and comprises three components: automatic, penalty free extension of Advance Authorisation and EPCG export obligations and protection of insured shipments over an immediate one month window; measures to promote ECGC coverage for upcoming consignments over a three month period; and targeted partial reimbursement of extraordinary freight and insurance costs for MSMEs not covered by ECGC during a specified one month period.
March 19, 2026
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Textile export leadership: Tamil Nadu tops India in textile shipments, surpassing Gujarat and Maharashtra in 2024-25.
Tamil Nadu leads India in textile exports for fiscal year 2024-25 with shipments of USD 7,997.17 million, up from USD 6,193.39 million in 2020-21 and representing 21.84% of national textile exports; Gujarat and Maharashtra follow in second and third place. The National Import-Export Record for Yearly Analysis of Trade is cited as the source, and the state credits cross-departmental schemes for the multifaceted export growth.
March 19, 2026
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GMP compliance as a market access tool: certified divisional containment and neutral code manufacturing enable regulated exports and client reliability.
Alpex Pharma is a certified third party manufacturer holding WHO GMP, GMP, GLP and Ghana GMP credentials, operating three fully separated divisions (General, Beta Lactam, Cephalosporin) with dedicated containment and compliance architectures to prevent cross contamination, enable export compliance, and support neutral code manufacturing partnerships alongside a client centric account management model aligned to regulatory and commercial timelines.
March 19, 2026
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GSTAT e-filing guidance sets out role selection, document upload, payment, digital signing, and filing number generation.
GSTAT e-filing for appeals requires advance preparation through the offline draft Excel sheet, role selection, sequential completion of the appeal form, upload of PDF documents within the prescribed size limit, payment of appeal fee through the approved modes, and digital signing for final submission. The advisory also highlights mandatory vakalatnama requirements for certain representatives, entry of demand details where APL-04 is unavailable, and payment of the pre-deposit required under section 112(8). Successful filing generates a filing number and acknowledgement.
March 19, 2026
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Aadhaar forgery: arrest and seizure of devices as suspect taken for further interrogation and investigation.
Allegations concern a gang producing forged Aadhaar cards and the arrest of an individual alleged to have provided technical assistance to that syndicate; electronic devices and documentary material were recovered during a raid and the suspect was transferred for further interrogation as part of an ongoing inter-district probe.
March 19, 2026
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Textile export leadership shifts as Tamil Nadu becomes nation's top textile exporter, surpassing Gujarat and Maharashtra.
Tamil Nadu has become India's leading state in textile exports for fiscal 2024-25, surpassing Gujarat and Maharashtra, according to national import-export data compiled on a centralised trade-data platform; the state's rise is attributed to coordinated departmental schemes and planned policy measures driving multifaceted growth in the textile sector.
March 19, 2026
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Corporate governance recognition: HDFC Life placed in Leadership category under national scorecard, reaffirming transparency and accountability.
Recognition under the Indian Corporate Governance Scorecard placed HDFC Life in the Leadership category for scoring 75 and above as of 31 December 2025, reflecting the company's commitment to transparency, accountability, and governance practices treated as an organisational value rather than mere compliance within a widely used benchmarking framework.
March 19, 2026
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Merger approval: competition regulator clears Bentley's stake increase in Baby Memorial and BMH's secondary purchase in Unimed.
The Competition Commission approved a two-step Proposed Combination: Bentley Asia will acquire additional shareholding in Baby Memorial Hospital Limited, and BMH will thereafter acquire certain shareholding in Unimed Health Care Private Limited by way of a secondary purchase; the parties include a Singapore investor (Bentley), a multi-specialty hospital network (BMH), and Unimed operating Star Hospitals, with a detailed order to follow.
March 19, 2026
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Women farmer empowerment via month-wise awareness, workshops and crop insurance outreach under a corporate Krishi Sakhi initiative.
AIC launched the Krishi Sakhi Initiative to promote women farmer empowerment and inclusive participation in agriculture and crop insurance through sustained month-wise activities. Operative measures include an introductory awareness video, a staff Walkathon to symbolize support, ground-level workshops and awareness programs on crop insurance benefits, publication of related articles and interviews, and targeted sanitation and hygiene campaigns in rural areas to recognize and engage women farmers.
March 19, 2026
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GST Council authority over tax rates affirmed; no unilateral state proposal to impose heavy tax on online shopping.
The Chief Minister denied evidence of small-trader distress from online shopping, emphasised digital payments' strengthening effect on small businesses, cited interest-free loans to street vendors during COVID-19 as support measures, and stated that proposals to change tax rates on online shopping are initiated, examined and recommended by the GST Council under the GST framework.
March 18, 2026
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Direct tax collections rise driven by stronger corporate tax receipts and lower refund outflows, boosting fiscal cash flows.
Net direct tax receipts increased 7.1 per cent to Rs 22.8 lakh crore till March 17, driven by higher corporate tax mop up and reduced refund outflows; corporate tax rose about 13 per cent while non corporate receipts rose about 3 per cent. Advance tax rose 6.4 per cent in four tranches despite a marginal decline in non corporate advance tax, and gross direct tax collection also increased against the government's Revised Estimates target.
March 18, 2026
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Trade deal impact: tariff asymmetry threatens farmer incomes, prompting calls for MSP guarantee and stronger crop protections.
India-US trade negotiations are depicted as posing asymmetric market access that would expose Indian farmers to tariff-free competition from US agricultural exports while domestic producers face duties, threatening incomes and sectoral competitiveness. Parliamentary interlocutors advocated compensatory domestic measures including a Minimum Support Price guarantee, reorientation of fertiliser subsidies to end-users, reform of the crop insurance scheme to favour farmers, targeted debt relief, and import curbs on selected agricultural commodities to protect farmer livelihoods and national food security.
March 18, 2026
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Constitutional constraints on military deployment limit Japan's warship commitments, shaping talks on security and defence cooperation.
Japan declined to commit warships in response to US requests, citing constitutional constraints, legal questions over the US action, and public opposition; limited non combat missions such as survey, intelligence, or minesweeping are possible only after a ceasefire and with domestic legal authorization. Concurrently, Tokyo is revising defence policy to accelerate long range missile deployment, consider joining a US multi layer missile defence system, and lift the lethal arms exports ban to bolster defence industry cooperation, while pursuing energy and rare earth investment projects to diversify supplies.
March 18, 2026
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Resolution plan finality prevents reopening admitted contingent claims after implementation, preserving creditor priority and CIRP finality.
The dispute concerns admission of pre insolvency operational claims as contingent claims admitted nominally by the resolution professional while an approved resolution plan provided no payment to operational creditors due to secured financial creditor priority. Appellate tribunals treated the RP's role as administrative and accepted nominal admission where disputes are pending, and the court stressed that the implemented resolution plan is final and reopening settled claims would disrupt the insolvency process.
March 18, 2026
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Brake disc expansion: OEM-grade multi-brand range launched to serve passenger, LCV and MHCV markets and exports.
Setco Auto Systems has introduced a Brake Disc range of over 200 part numbers for 15+ vehicle brands, engineered to meet OEM specifications in ventilated and solid configurations with precision fitment, instant bedding, thermal fade resistance and materials resisting wear, warping and corrosion. The launch targets both OEM and aftermarket channels and leverages Setco's manufacturing capacity, distribution network and export relationships to capitalise on a market shift toward disc brakes.

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Customs & Trade

Trump has other tariff options after Supreme Court strikes down his worldwide import taxes

February 20, 2026

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Washington, Feb 20 (AP) President Donald Trump still has options to keep taxing imports aggressively even after the Supreme Court struck down the tariffs he imposed last year on nearly every country on earth.

The Justices didn't buy the president's sweeping claims of authority to impose tariffs as he sees fit. But Trump can re-use tariff powers he deployed in his first term and can reach for others, including one that dates back to the Great Depression.

“It's hard to see any pathway here where tariffs end,” said Georgetown trade law professor Kathleen Claussen. “I am pretty convinced he could rebuild the tariff landscape he has now using other authorities." Trump had claimed nearly boundless authority to impose tariffs under 1977 International Emergency Economic Powers Act (IEEPA). But opponents argued before the Supreme Court that that power wasn't necessary because Congress delegated tariff power to the White House in several other statutes — though it carefully limited the ways the president could use the authority.

Tariffs have been a cornerstone of Trump's foreign and economic policy in his second term, with double-digit “reciprocal" tariffs imposed on most countries, which he has justified by declaring America's longstanding trade deficits a national emergency.

The average US tariff has gone from 2.5 per cent when Trump returned to the White House in January to nearly 17 per cent a year later, the highest since 1934, according to calculations by Yale University's Budget Lab.

The president acted alone even though the US Constitution specifically gives the power to tax – and impose tariffs – to Congress.

Countering unfair trade practices ----------------------------------- The United States has long had a handy cudgel to wallop countries it accuses of engaging in “unjustifiable," “unreasonable" or “discriminatory" trade practices. That is Section 301 of the Trade Act of 1974.

And Trump has made aggressive use of it himself — especially against China. In his first term, he cited Section 301 to impose sweeping tariffs on Chinese imports in a dispute over the sharp-elbowed tactics that Beijing was using to challenge America's technological dominance. The US is also using 301 powers to counter what it calls unfair Chinese practices in the shipbuilding industry.

There are no limits on the size of Section 301 tariffs. They expire after four years but can be extended.

But the administration's trade representative must conduct an investigation and typically hold a public hearing before imposing 301 tariffs.

Experts have said Section 301 is useful in taking on China. But it has drawbacks when it comes to dealing with the smaller countries that Trump has hammered with reciprocal tariffs.

“Undertaking dozens and dozens of 301 investigations of all of those countries is a laborious process," Veroneau said.

Targeting trade deficits ------------------------- In striking down Trump's reciprocal tariffs in May, the US Court of International Trade ruled that the president couldn't use emergency powers to combat trade deficits.

That is partly because Congress had specifically given the White House limited authority to address the problem in another statute: Section 122, also of the Trade Act of 1974. That allows the president to impose tariffs of up to 15 per cent for up to 150 days in response to unbalanced trade. The administration doesn't even have to conduct an investigation beforehand.

But Section 122 authority has never been used to apply tariffs, and there is some uncertainty about how it would work.

Protecting national security ------------------------------ In both of his terms, Trump has made aggressive use of his power — under Section 232 of Trade Expansion Act of 1962 — to impose tariffs on imports that he deems a threat to national security.

In 2018, he slapped tariffs on foreign steel and aluminum, levies he's expanded since returning to the White House. He also plastered Section 232 tariffs on autos, auto parts, copper, lumber.

In September, the president even levied Section 232 tariffs on kitchen cabinets, bathroom vanities and upholstered furniture.

Section 232 tariffs are not limited by law but do require an investigation by the US Commerce Department. It's the administration itself that does the investigating – also true for Section 301 cases — “so they have a lot of control over the outcome," Veroneau said.

Reviving Depression-era tariffs ---------------------------------- Nearly a century ago, with the US and world economies in collapse, Congress passed the Tariff Act of 1930, imposing hefty taxes on imports. Known as the Smoot-Hawley tariffs (for their congressional sponsors), these levies have been widely condemned by economists and historians for limiting world commerce and making the Great Depression worse. They also got a memorable pop culture shoutout in the 1986 movie “Ferris Bueller's Day Off." Section 338 of the law authorises the president to impose tariffs of up to 50 per cent on imports from countries that have discriminated against US businesses. No investigation is required, and there's no limit on how long the tariffs can stay in place.

Those tariffs have never been imposed — US trade negotiators traditionally have favoured Section 301 sanctions instead — though the United States used the threat of them as a bargaining chip in trade talks in the 1930s.

In September, Treasury Secretary Scott Bessent told Reuters that the administration was considering Section 338 as a Plan B if the Supreme Court ruled against Trump's use of emergency powers tariffs. (AP) RD RD

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