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    Sitharaman highlights India's expanding trade architecture in meeting with Norwegian CEOs
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February 18, 2026
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Trade agreements driving investment: operationalising TEPA and sectoral cooperation to convert agreements into industrial collaboration and investments.
India emphasises an expanding trade architecture providing a durable framework for trade, industrial collaboration and long-term investments, supported by domestic regulatory and budgetary reforms to ease compliance. Discussions focused on operationalising the TEPA with the European Free Trade Association (EFTA) and on sectoral cooperation in renewables, carbon capture, rare earths, green tech, maritime, fisheries, semiconductors and financial services, with presentations outlining bilateral investment potential and mechanisms to translate agreements into practical cooperation.
February 18, 2026
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Anticipatory bail denial in money laundering probe tied to cyber fraud highlights custodial interrogation necessity.
Refusal of anticipatory bail to a chartered accountant in a PMLA investigation stemmed from an alleged intricate mesh of laundering involving layering through thousands of mule accounts, use of an overseas payment platform and cross border cash withdrawals; the high court held custodial interrogation necessary to unravel transactions crafted by skilled professionals and to secure electronic evidence, distinguishing ordinary cryptocurrency dealings from an organised scheme to siphon investors' funds and noting allegations of assault, bribery and destruction of electronic material.
February 18, 2026
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India-EU Free Trade Agreement expands economic ties and drives technology, defence and education cooperation across Europe and India.
The India EU Free Trade Agreement is presented as the principal catalyst for deeper India-Europe economic relations, expected to expand market access and commercial opportunities. Bilateral meetings with Spain and Finland focused on leveraging the FTA to strengthen economic partnership and targeted cooperation in defence, security, advanced technologies (including AI and 6G), clean energy and higher education, while India's AI Expo serves as a platform to operationalise joint technology, startup and institutional collaboration.
February 18, 2026
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Foreign owned US LLC compliance: nonresident owners face mandatory IRS reporting and parallel Indian tax and FEMA obligations.
Nonresident ownership of US single member LLCs triggers an annual IRS Form 5472 filing obligation with steep per form penalties for non filing; this filing must be submitted by mail or fax. The US FinCEN BOI exemption for domestically formed entities does not remove Form 5472 duties. Indian residents must report and tax worldwide income and may face FEMA and Overseas Direct Investment reporting requirements, so professional cross border tax and FEMA advice is recommended before formation.
February 18, 2026
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Tariff elimination boosts India's export competitiveness, enhancing global sourcing and buyer engagement through imm india's trade platform.
Trade-policy shifts, notably the EU-India Free Trade Agreement, have eliminated or substantially reduced import duties on several Indian furniture categories, lowering average tariffs and simplifying customs procedures. imm india 2026 is structured as a B2B trade platform-featuring a Hosted Buyer Programme, The Sourcing Hub, curated showcases, and industry alliances-to enable direct sourcing, streamline buyer-seller engagement, and translate tariff and customs liberalisation into expanded export market access for Indian manufacturers.
February 18, 2026
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Trade tariffs reshape investment flows as US-Japan deal ties increased export levies to large bilateral investment commitments.
A bilateral trade arrangement between Japan and the United States is reported to include a substantial Japanese investment pledge in the US and an associated increase in export tariffs on Japanese goods, while a Japanese subsidiary's participation in a major US natural gas facility links cross border investment commitments to energy project involvement, framing market movements alongside investor concerns about overinvestment in AI infrastructure and resultant volatility.
February 18, 2026
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Benami funds allegations prompt call for parliamentary probe amid claimed regulatory inaction and governance failures.
Allegations assert the use of benami funds by close associates to amass significant stakes in a corporate conglomerate through intermediaries and trading firms, accompanied by claims of over-invoicing, cross-border transfers, and an alleged bribery scheme to secure contracts; these claims form the basis for demands for a parliamentary inquiry into corporate ownership concealment and associated governance failures amid perceived regulatory and enforcement inaction.
February 18, 2026
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Digital savings account transparency improves customer decision-making through instant account opening, UPI integration and built in interest tools.
AU Small Finance Bank's enhanced digital savings account focuses on instant digital account opening, UPI integration, 24x7 mobile banking, contactless debit card capabilities, and an integrated savings account interest rate calculator that provides transparent interest rate visibility to help customers evaluate returns, plan finances, and maintain liquidity while supporting financial inclusion.
February 18, 2026
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Business correspondent operationalisation advances as banks urged to scale services and complete digital monitoring and geotagging.
Monitoring Committee reviewed operational and governance aspects of the Business Correspondent model, noting implementation of a Business Correspondent Registry that identifies duplicate BCs and captures service and performance records; member banks completed geotagging of BC points and are using digital monitoring tools. The Committee advised banks to scale up and expand services at BC outlets, and discussed commission structures in remote areas, grievance resolution for BC organisations, and coordination to strengthen performance monitoring and financial inclusion.
February 17, 2026
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People's budget shaped by public suggestions to advance development priorities while maintaining fiscal discipline in state finances.
The upcoming state budget is characterized as a people's budget shaped by public suggestions, with over twelve thousand submissions and several thousand to be incorporated. It follows prior budget commitments-248 announcements with seventy-seven implemented and most others near completion-and is presented against strengthened fiscal metrics: rising GDP and per capita income, increased own revenue, broad departmental expenditure, fiscal deficit within FRBM limits, and a higher central tax share under the 16th Finance Commission. Socio economic gains cited include employment growth, expanded higher education, MSME formalisation, and export increases.
February 17, 2026
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Trade deal protections for farmers: government assures imports will be allowed only where farmer interests are safeguarded.
The minister stated the interim India-US trade agreement includes safeguards to prevent harm to farmers while allowing necessary imports to address domestic shortages; he defended policy choices on MSP orientation, procurement and buffer stocks as central to protecting farmer interests, and announced Bharat-VISTAAR, an AI-based platform to deliver market prices, crop advice, weather updates and scheme information to enhance farmer welfare and transparency.
February 17, 2026
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PMLA bail conditions prevent release where alleged large-scale fund diversion, multiple FIRs and risk of evidence tampering exist.
Denial of regular bail under the Prevention of Money Laundering Act followed allegations that the accused diverted homebuyer funds, leaving major construction incomplete; investigative records and account certifications showed a large shortfall between amounts collected and expenditure, and the accused was named in multiple FIRs and charge-sheets. The court found a strong possibility of reoffending or tampering with evidence if released and held that the PMLA twin bail conditions-opportunity for the prosecutor to oppose bail and judicial satisfaction of non-guilt and non-recidivism-were not satisfied.
February 17, 2026
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Secured shareholding: Byju's stake in Aakash to remain secured pending NCLAT disposal; TLPL allowed to subscribe.
Aakash undertook in the Supreme Court that Byju's shareholding in Aakash shall remain secured until disposal of the interlocutory application before the NCLAT; the Court recorded that undertaking and gave Byju's parent a limited period to subscribe to the second tranche of the rights issue. The dispute arises from TLPL's challenge to the rights issue amid TLPL's insolvency proceedings, and the NCLAT has permitted TLPL to apply for shares up to its original entitlement while restraining Aakash from taking matters requiring a special resolution until the dispute is adjudicated.
February 17, 2026
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Reporting requirement for local-currency foreign exchange derivatives now covers related-party global transactions; stakeholders invited to comment.
The Reserve Bank proposes draft Directions requiring Authorised Dealer Category - I banks to report foreign exchange derivative transactions involving the Indian currency undertaken by their related parties globally, extending trade repository coverage to offshore rupee derivative flows to enhance market transparency and pricing. The measure builds on earlier requirements for market-makers, primary dealers, and banks to report OTC and rupee interest-rate derivatives, and is published for stakeholder consultation with specified submission procedures.
February 17, 2026
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Union Budget emphasis on multimodal freight connectivity and customs modernisation is expected to reduce structural logistics costs and improve transit predictability. Glottis Logistics will invest in trailers and container assets to increase owned capacity, reduce third-party dependence and strengthen execution across trade corridors. Concurrent customs digitisation measures-electronic cargo sealing, non-intrusive inspections and extended duty deferment for authorised operators-aim to shorten clearance times and ease working capital pressures, making asset-backed operators with disciplined capital allocation better positioned to capture long-term trade competitiveness gains.
February 17, 2026
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Draft directions on foreign exchange dealings invite public comment to broaden authorised dealers' flexibility in products, risk management and platforms.
The Reserve Bank has issued draft Directions on Foreign Exchange Dealings of Authorised Persons and invited stakeholder comments. The draft seeks to refine regulation by expanding facilities and operational flexibility available to authorised dealers, focusing on foreign exchange products, risk management and trading platforms. It forms part of regulatory updates announced in the recent Statement on Developmental and Regulatory Policies, and specifies submission channels for public feedback.
February 17, 2026
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Health insurance co-payment options enhance CGHS beneficiary coverage with cashless hospitalization access and flexible network choices.
Paripoorna Mediclaim Ayush Bima is an optional indemnity-based in patient hospitalization policy exclusively for CGHS beneficiaries, coverable up to six members per policy. The product offers selectable co-payment sharing ratios between insurer and subscriber, cashless treatment through insurer and Third Party Administrator networks, and is promoted as a retail complement to existing CGHS benefits with a GST exemption to improve affordability.
February 17, 2026
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Economic security tied to self-reliance and trusted partners as trade deals reshape export controls and supply chains.
India is intensifying engagement from a position of strength, using recent trade agreements to strengthen economic security through self reliance, trusted partners, supply chain diversification and de risking in response to weaponised production, tightened export controls, market leverage and tariff induced demand uncertainty.
February 17, 2026
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Financial performance: Axis Max Life posts strong premium and profitability growth, boosting market share and new business margins.
Axis Max Life's 9M FY26 results show 20% YoY growth in Individual Adjusted First Year Premium to Rs. 6,396 crores and a 30% YoY increase in Value of New Business to Rs. 1,633 crores, with New Business Margin at 23.6% and private market share rising by 53 basis points to 9.8%; renewal premium, gross written premium, Embedded Value and Assets Under Management also registered double digit growth, while the release includes a standard disclaimer on forward looking statements and investment reliance.
February 17, 2026
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Money laundering probe: Tina Ambani skips ED summons; investigation targets alleged fraudulent foreign remittance and property sale.
Tina Ambani failed to appear for a second ED summons in a PMLA investigation concerning an alleged money trail tied to a Manhattan condominium purchase; she has been issued a fresh notice and will be questioned with her statement recorded under the Prevention of Money Laundering Act. The ED alleges a fraudulent sale of the New York property during a corporate insolvency process and that sale proceeds were remitted via a sham investment arrangement through a Dubai-based entity without the Resolution Professional's knowledge. The agency has arrested a former executive, formed a Special Investigation Team, attached assets, and filed multiple Enforcement Case Information Reports against group companies.

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Customs & Trade

The Supreme Court struck down some of Trump's most sweeping tariffs; Which levies are impacted?

February 20, 2026

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New York, Feb 20 (AP) The nation's highest court struck down some of US President Donald Trump's most sweeping tariffs on Friday, in a 6-3 decision ruling that he overstepped his authority when using an emergency powers law to justify new taxes on goods from nearly every country in the world.

Trump has launched a barrage of new tariffs over the last year. Despite Friday's ruling, many sectoral levies remain in place — and the president still has plenty of other options to keep taxing imports aggressively. But the Supreme Court decision upends a core set of tariffs that Trump imposed using the 1977 International Emergency Economic Powers Act, or IEEPA.

IEEPA authorises the president to broadly regulate commerce after declaring a national emergency. Over the years, presidents have turned to this law dozens of times, often to impose sanctions on other countries. But Trump was the first to use it to implement tariffs.

Here's a look at what tariffs Trump imposed using IEEPA — and other that levies still stand today.

Liberation Day' tariffs ------------------------ Trump used IEEPA to slap import taxes on nearly every country in the world last spring. On April 2, which Trump called Liberation Day, he imposed “reciprocal” tariffs of up to 50 per cent on goods from dozens of countries — and a baseline 10 per cent tariff on just about everyone else.

The 10 per cent tax kicked in early April. But the bulk of Liberation Day's higher levies got delayed by several months, and many rates were revised over time (in some cases after new “framework” agreements). Most went into effect on August 7.

The national emergency underlying these tariffs, Trump argued at the time, was the long-running gap between what the US sells and what it buys from the rest of the world. Still, goods from countries with which the US runs a trade surplus also faced taxes.

Major trading partners impacted by Liberation Day tariffs include South Korea, Japan and the European Union — which combined export a range of products to the US, like electronics, cars and car parts and pharmaceuticals. Following trade talks, Trump's rates on most goods stood at 15 per cent for the EU, Japan and South Korea ahead of Friday. But just last month, Trump threatened to hike levies on certain South Korean products to 25 per cent — and countries worldwide still face sector-specific, non-IEEPA tariffs.

Trafficking tariffs' on Canada, China and Mexico ----------------------------------------------------- At the start of his second term, Trump used IEEPA to impose new tariffs on America's three biggest trading partners: Mexico, Canada and China.

To justify these tariffs, Trump declared a national emergency ostensibly over undocumented immigration and the trafficking of drugs like fentanyl and the chemicals made to use it. The levies were first announced at the start of February 2025, but went into effect over time — and were at times delayed, reduced or heightened through further retaliation.

Ahead of Friday's decision, “trafficking tariffs” on Canadian and Mexican imports were 35 per cent and 25 per cent, respectively, for goods that don't comply with the 2020 United States-Mexico-Canada Agreement. China, meanwhile, faced a 10 per cent fentanyl-related tariff. That's down from 20 per cent imposed by Trump earlier last year. Chinese goods also once saw sky-high levies after Liberation Day, but rates have since come down during trade talks.

Top US imports from China include mobile phones and other electronics, as well as clothing, toys and household appliances. Meanwhile, Canada and Mexico are both major sources of cars and auto parts. Canada is also the US' largest supplier of crude oil. And Mexico is a key exporter of fresh produce, beverages and more.

Tariffs on Brazil over Bolsonaro trial --------------------------------------- Trump also used IEEPA to slap steep import taxes on Brazilian imports over the summer, citing the country's policies and criminal prosecution of former President Jair Bolsonaro.

Brazil already faced Trump's 10 per cent baseline Liberation Day rate. The Bolsonaro-related duties added another 40 per cemt, bringing total levies to 50 per cent on many products ahead of Friday.

The US has actually run a consistent trade surplus with Brazil over the years. But top exports from the country include manufactured products, crude oil and agricultural products like soybeans and sugar.

Tariffs on India linked to Russian oil --------------------------------------- India has faced additional IEEPA tariffs, too. After Liberation Day, Trump slapped a 25 per cent levy on Indian imports — and later added another 25 per cent for the country's purchases of Russian oil, while also citing the emergency powers law, bringing the total to 50 per cent.

But earlier this month, the US and India reached a trade framework deal. Trump said Prime Minister Narendra Modi agreed to stop buying Russian oil, and that he planned to lower US tariffs on its ally to 18 per cent. Meanwhile, India said it would “eliminate or reduce tariffs” on all US industrial goods and a range of agricultural products.

Indian's top exports to the US include pharmaceuticals, precious stones, clothing and textiles.

What are other non-IEEPA tariffs that countries still face today? ------------------------------------------------------------------ Despite the Supreme Court knocking down the sweeping import taxes Trump imposed with IEEPA, most of America's trading partners still face steep tariffs on specific sectors.

Citing national security threats, Trump has used another law — Section 232 of the 1962 Trade Expansion Act — to slap new levies on steel, aluminum, cars, copper and lumber worldwide. He began to roll out even more Section 232 tariffs in September, on kitchen cabinets, bathroom vanities and upholstered furniture.

Amid pressure to lower rising prices, Trump has rolled back some of his tariffs recently. Beyond trade frameworks, that's included adding exemptions to specific levies and scrapping import taxes for goods like coffee, tropical fruit and beef.

Still, Trump has continued to threaten that more sectoral levies are on the way.(AP) RD RD

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