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    US deal in farmers' best interest; main grains and dairy fully protected: Shivraj Singh Chouhan
    Actor Tamannaah Bhatia named brand ambassador of KSDL
    Using AI to tackle mule accounts to be in focus during 2-day conference by CBI, Centre
    Odisha finance secretary urges bankers to boost financial literacy among poor
    Confident Group assures project completion after chairman C J Roy’s suicide amid IT search
    Cracks in oppn ranks as Cong favours Rahul's speech in House; SP, TMC seek debate
    BJP corporator wants congestion tax in Mumbai's business hubs to tackle traffic woes
    Huge surge in domicile certificate applications at KMC amid SIR; over 19,000 requests received
    Kanpur Lamborghini crash adds to long list of luxury car accidents in India
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    ED constitutes SIT to probe multiple cases against Anil Dhirubhai Ambani Group
    RBI amends MSME lending directions, increases collateral-free loan limit to Rs 20 lakh
    AAP's Raghav Chadha demands LTCG tax be abolished, inflation-linked wage hike for all
    Discontinuation of RDG may force Himachal to roll back subsidies, freeze DA/DR arrears
    Torres fraud: Mumbai court denies bail to Ukrainian actor citing flight risk
    Lamborghini crash in Kanpur: Tobacco baron's son to undergo medical exam, no arrests yet
    Over 47 lakh members getting less than Rs 9,000 monthly pension under EPS-95: Labour Min
    ED seizes crypto currency worth Rs 10 lakh in raids against fake Ahmedabad call centre
    India prioritises energy security through supply diversification: Foreign Secretary Misri amid US claim
    Commerce minister Goyal to meet exporters, industry associations on Feb 11
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February 9, 2026
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Agricultural trade agreement secures protection for major grains and dairy while opening export markets and duty relief for spices.
The agreement preserves domestic controls by excluding major foodgrains (wheat and paddy), protecting fruits and vegetables, and prohibiting imports of dairy products such as milk, curd, buttermilk, butter and milk powder; a detailed list of covered commodities will be published and spices are to receive zero per cent export duty treatment, while the pact opens expanded market access to international markets to boost exports and farmer income.
February 9, 2026
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Tamannaah Bhatia named brand ambassador of KSDL with two-year exclusivity on similar product endorsements and promotional duties.
Actor Tamannaah Bhatia has been appointed brand ambassador of KSDL for a two-year term beginning February 10, required to feature in advertisements and promotional campaigns and subject to an exclusivity obligation barring endorsement of similar private-company products; the appointment accompanies a relaunch of Mysuru Sandal Soap and supports KSDL's campaign to reach Rs 5,000 crore annual turnover by 2030 across its 57-product portfolio.
February 9, 2026
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Artificial Intelligence in tackling mule accounts and telecom-enabled fraud via coordination and tech adoption for real-time tracing and victim protection.
The conference focuses on deploying Artificial Intelligence and data analytics to detect and disrupt mule accounts and laundering mechanisms, structured around three pillars: financial systems, telecommunications infrastructure, and human exploitation; it targets misuse of SIMs, eSIMs, VoIP and OTP interception, and emphasizes inter-agency and public-private coordination for faster fraud reporting, real-time fund tracing, evidence preservation and victim protection, alongside international cooperation and state-level investigation models.
February 9, 2026
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Financial literacy for rural poor urged to prevent fraud and promote KYC updates in bank accounts.
Banks are urged to expand financial literacy efforts for poor, rural, and tribal populations to prevent small-value financial and cyber frauds, addressing language barriers and remote access constraints. The RBI's Financial Literacy Week emphasizes KYC as a foundational safeguard and calls for promotion of KYC updates and account-level awareness within literacy campaigns to secure deposit accounts and reduce exploitation of low-income customers.
February 9, 2026
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Confident Group assures projects will finish, denies wrongdoing amid Income Tax inspection and ongoing probe.
The Confident Group described the office searches as a routine Income Tax inspection, confirmed full cooperation with investigators and an ongoing SIT probe, asserted it is a zero-debt, zero-investor firm financed by sales collections, denied benami transactions and external investments including claims about film personalities, and assured customers that all projects have resumed and will be completed on time.
February 9, 2026
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Parliamentary speaking rights and suspensions stalled Budget debate amid dispute over the Speaker's refusal to allow pre-debate remarks.
The dispute concerned the Chair's refusal to allow the Leader of the Opposition to quote from material and speak before the Budget debate, leading to repeated adjournments, the suspension of eight members for the Budget session, and consideration by opposition parties of a resolution to remove the Speaker for alleged partisan denial of speaking rights. The Chair cited rules against raising issues without notice while opponents claimed an agreement permitting pre-debate remarks, highlighting tensions over the Right to Debate, suspension as discipline, and remedies for alleged Speaker partiality.
February 9, 2026
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Congestion tax proposal in Mumbai aims to pilot fees in business hubs to reduce traffic and fund environmental improvements.
A municipal representative proposes a congestion tax for Mumbai's central business districts, recommending a south Mumbai pilot project to deter single-occupant vehicles, boost public transport use, reduce emissions, and generate estimated annual revenue of Rs 200-300 crore to be reinvested in environmental and transport improvements; the proposal cites the national Economic Survey and seeks inclusion in the municipal budget.
February 9, 2026
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Kolkata domicile certificate applications surge amid electoral roll revision; centralized processing, police verification, and WBCS approvals expedited.
Kolkata Municipal Corporation centralised domicile certificate intake and established dedicated counters to process 19,167 SIR linked applications; borough offices route requests to headquarters and the Kolkata Police for field verification, after which a WBCS rank officer grants final approval. Applications are accepted chiefly for SIR requirements and must be supported by documentary proof; many certificates were issued following police enquiry reports, while others were rejected after adverse verification.
February 9, 2026
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Luxury car crashes causing injuries and deaths highlight overspeeding, drunk driving, and charges from rash driving to culpable homicide.
A pattern of high speed luxury car collisions in India has produced injuries and deaths, prompting police arrests, FIRs, vehicle seizures and charges ranging from rash and negligent driving to culpable homicide; contributory factors cited include overspeeding, drunk driving, seat belt noncompliance and incidents involving drivers linked to affluent families, with at least one case raising juvenile trial issues and widespread public outrage over perceived impunity.
February 9, 2026
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Rupee volatility driven by importer dollar demand and an India-US interim trade framework reducing bilateral import duties.
Rupee volatility reflected competing forces-equity gains and foreign inflows versus risk-off sentiment and importer-driven dollar demand-set against an India-US interim trade framework reducing bilateral import duties and signalling large Indian purchases of US goods, with broader context from reserve gains, equity inflows, and commodity price movements.
February 9, 2026
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Anil Ambani Group alleged Rs 40,000 crore banking and corporate fraud is being probed under money laundering provisions.
A specialised investigative team has been constituted to probe alleged Rs 40,000 crore banking and corporate fraud by the Anil Dhirubhai Ambani Group under the Prevention of Money Laundering Act, with authority to file additional Enforcement Case Information Reports, examine alleged diversion of public funds and dubious financial transactions, and pursue asset attachment and restitution arising from suspected collusion, connivance and conspiracy among company executives.
February 9, 2026
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MSME lending: collateral-free loan limit raised to Rs 20 lakh; banks may extend to Rs 25 lakh under internal policy.
RBI amended the Master Direction on MSME lending to raise the collateral-free loan limit for micro and small enterprises to Rs 20 lakh, mandating banks not accept collateral for loans up to that amount and advising the same limit for PMEGP units. Banks may, under internal policy and based on borrowers' track record and financial position, dispense with collateral up to Rs 25 lakh and may use Credit Guarantee Scheme cover where applicable; voluntarily pledged gold and silver within the threshold will not breach the mandate. The amendments aim to strengthen last mile credit delivery and align MSME lending with other regulatory changes.
February 9, 2026
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LTCG tax abolition proposed for individual investors and a statutory inflation-linked wage adjustment urged.
Demand to abolish Long-Term Capital Gains tax for individual equity investors, arguing that pairing an elevated Securities Transaction Tax with LTCG disincentivises retail investment and that LTCG should be nil when STT is raised; also urging a statutory, inflation-linked wage adjustment formula for corporate, factory and gig workers, alongside proposals to address foreign portfolio investor outflows, increase public healthcare spending, and implement a blockchain-based land and property registry.
February 9, 2026
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Himachal Pradesh finances face cuts: rollback of subsidies, staff reductions, and pension migration to plug a major revenue shortfall.
Discontinuation of the Revenue Deficit Grant would create a fiscal shortfall-eliminating a funding source equal to 12.7% of the budget-and compel measures such as rolling back subsidies, abolishing long vacant posts, downsizing institutions, halting pay revisions, and migrating from the Old Pension Scheme to the Unified Pension Scheme to unlock borrowing, while causing inability to meet pay/pension arrears, DA/DR installments, and other liabilities.
February 9, 2026
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Ukrainian actor in Torres investment fraud case denied bail due to alleged large scale scheme and flight risk.
The accused is alleged to have participated in a criminal conspiracy under Platinum Hern Pvt Ltd's Torres scheme, a combination of Ponzi and MLM operations that collected Rs 148.89 crore from 14,964 investors by promising immediate and weekly returns on investments in moissanite, gold and diamonds. The court denied bail citing the nature, gravity and magnitude of the offence, ongoing related investigations with other registered crimes, absconding principal accused, and a real risk of the accused fleeing or tampering with prosecution evidence.
February 9, 2026
Show AI Summary
Lamborghini crash in Kanpur: medical exam to assess fitness to drive; FIR filed, vehicle seized and investigation ongoing.
Police registered an FIR against an unidentified driver for rash and negligent driving after a Lamborghini crash that injured six; the car was seized and sent for mechanical inspection, CCTV is being analysed to determine speed, and the suspected driver will undergo medical tests to assess whether epilepsy or another condition contributed, with subsequent scrutiny of driving licence issuance and RTO procedures if medical unfitness is found.
February 9, 2026
Show AI Summary
EPS-95 pensioners: 47.04 lakh receive under Rs 9,000 monthly; minimum pension remains Rs 1,000 via budget support.
EPS-95 is a Defined Contribution-Defined Benefit scheme funded by employer contributions of 8.33% of wages and a central government contribution of 1.16% on wages up to Rs 15,000; all benefits are paid from the Employees' Pension Fund. Currently 47.04 lakh of 82.11 lakh active pensioners receive less than Rs 9,000 monthly, and the government provides a minimum pension of Rs 1,000 per month through budgetary support in addition to the 1.16% contribution. The fund is valued annually under paragraph 32 to determine long term viability and account for future liabilities.
February 9, 2026
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Enforcement action seizes crypto and cash from Ahmedabad call centre that coerced victims into gift card payments.
Enforcement action targeted an Ahmedabad call centre that coerced foreign victims into gift card and digital payments, converted proceeds into cryptocurrency via online platforms with assistance from foreign nationals, and laundered most funds through cash, crypto and informal channels; investigators seized cryptocurrency (~USD12,000), unaccounted cash (Rs13.5 lakh), documents and devices, froze 31 bank accounts and a locker, and transferred seized crypto to an agency wallet for investigation.
February 9, 2026
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India energy procurement prioritises diversification and national interest; companies make market-based sourcing choices for secure, affordable supply.
India's energy procurement policy is guided by national interest and operationalised through supply diversification to ensure adequate availability, fair pricing, and reliability of supply; oil companies make sourcing decisions based on market conditions, assessing availability, risks, costs, logistical and financial factors alongside internal accountability and fiduciary responsibilities.
February 9, 2026
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Commerce minister meeting exporters to discuss US tariff reductions and EU FTA implications for export sectors.
A ministerial consultation will discuss a US framework reducing reciprocal tariffs on Indian goods from 25% to 18% and the removal of previously imposed 25% punitive tariffs, in the context of concluded negotiations with the European Union and sectoral impacts on textiles, leather and footwear, and gems and jewellery.

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Customs & Trade

Put India-US trade deal on hold, renegotiate terms: Congress

February 21, 2026

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New Delhi, Feb 21 (PTI) The Congress on Saturday demanded that the government put the interim trade agreement on hold and renegotiate the terms of the deal after the US Supreme Court invalidated the reciprocal tariffs imposed by President Donald Trump.

Congress general secretary Jairam Ramesh said the government must also ensure that the interests of Indian farmers are fully protected during the renegotiations and asked the government to categorically state that it will not allow any import liberalisation to the American side.

Speaking with reporters here, Ramesh questioned the silence of Prime Minister Narendra Modi on the entire deal and said he should clarify on whether he agrees with Trump's statement that nothing changes in the trade deal with India.

"Does Modi agree with Trump that the trade agreement with India still holds," the Congress leader asked, while pointing out there was no response from the government so far.

Claiming that the India-US interim agreement will adversely affect the Indian farmers and put their livelihood in jeopardy, he said the government should put this deal on hold till clarifications are made and called for renegotiating the deal afresh.

"The US Supreme Court decision is very significant and our government must keep this trade agreement on hold.

"We demand that the PM should categorically state that India's policy after the US Supreme Court decision will be reviewed and we will not carry out import liberalisation till clarifications come," Ramesh said, adding that this is to protect and safeguard the livelihood of lakhs of farmers in the country.

He referred to the special concessions provided to the US agricultural products that threaten the livelihood of our farmers. He said the trade agreement mentions that the tariffs will be reduced or completely eliminated on farm products including cotton, soybean and fruits.

The Congress leader also questioned the tearing hurry shown by Modi in getting the trade deal announced by Trump on February 2.

He attributed this to "Modi's panic" and to divert attention from Rahul Gandhi's speech in Parliament the same day quoting the sensational revelations made by former Army Chief Gen MM Naravane that Prime Minister had abdicated his responsibility while telling him 'jo uchit samjho who Karo' (do whatever you think is right), on Chinese aggression at the border.

The first question arises is why did the prime minister was in a hurry to announce this, he said.

The US Supreme Court on Saturday struck down Trump's global tariffs, saying it is against the American Constitution, Ramesh said.

"Our second question is that when the PM, the commerce minister (Piyush Goyal), knew from December that any time (now) the Supreme Court verdict could come, many believed that it could be struck down. Why did you hurriedly strike a deal when you knew the verdict could go against Trump," he asked.

The 10 per cent tariff would be imposed on imports and as per law this will be for 150 days, he said.

He observed that there was nothing to celebrate about the ten percent tariff from the 18 percent as these had actually gone from 3.5 percent to ten percent.

Referring to Trump's statement after the Supreme Court decision that the Indo-US Trade Agreement still holds, Ramesh asserted that Modi must say in clear and unambiguous terms that the 'Framework of Interim Agreement' cannot be implemented under current circumstances in view of the US Supreme Court's decision.

After the US Supreme Court struck down Trump's global tariffs, Gandhi accused Modi of being "compromised", saying his "betrayal" in the India-US interim trade deal stood exposed.

Congress general secretary Randeep Surjewala said after the US Supreme Court quashed presidential powers to impose tariffs under the IEEPA (International Emergency Economic Powers Act, 1977), Trump has announced the imposition of 10 per cent additional tariffs under Section 122 of the Trade Act, 1974.

"The simple questions are - are these tariffs sustainable viz-a-viz India? Can these tariff provisions be justifiably applied to India? "Will these new tariffs still hold the US-India Trade Deal (Framework Agreement), which is being widely opposed by farmers, small and medium businesses, energy and data experts, and economists alike," he posted on X.

"Will the Modi government now show the courage to walk out of a one-sided US-India Trade Deal," Surjewala asked.

He also asked if the Modi government will now declare in "national interest" that it will buy cheaper Russian and Iranian crude oil with a view to ensure "energy security" of the country.

"Will the Modi government declare that it will no longer withdraw 'non-tariff barriers', i.e., withdraw the meagre subsidy on agriculture or permit import of genetically modified crops into India, thereby protecting our seed integrity, purity, and biodiversity? Will the Modi Government now declare that it is no longer under an obligation to import USD 500 billion worth of American goods (Rs 45 lakh crore) over the next 5 years on zero tariff," he asked.

In a major setback to what was Trump's pivotal economic agenda in his second term, the US Supreme Court, in a 6-3 verdict, ruled that tariffs imposed by Trump on nations around the world were illegal and that the president had exceeded his authority.

Shortly after the court verdict, Trump asserted that there is "no change" in the trade deal with India. PTI ASK/SKC ZMN

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