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September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
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September 2, 2026
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September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
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September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
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September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.

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Bengal SIR: SC allows deployment of judicial officers from Jharkhand, Odisha for claim verification

February 24, 2026

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New Delhi, Feb 24 (PTI) The Supreme Court on Tuesday allowed the deployment of West Bengal civil judges, in addition to 250 district judges, and the requisitioning of judicial officers from Jharkhand and Odisha to handle 80 lakh claims and objections of those facing deletion from the electoral roll in the ongoing SIR exercise in the state.

A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi took note of a February 22 letter of Calcutta High Court chief justice Sujoy Paul that even if 250 district judges deployed in the Special Intensive Revision (SIR) exercise will take around 80 days to deal with the claims and objections of those put under logical discrepancy and unmapped categories.

The logical discrepancies in progeny linking with the 2002 voter list include instances of a mismatch in the parent's name and the age difference between a voter and his/her parent being less than 15 years or more than 50 years.

While issuing a slew of fresh directions, CJI Kant took note of the fact that even if each judicial officer deals with 250 claims and objections per day, the exercise will take around 80 days to conclude. The deadline for West Bengal SIR is February 28.

The bench permitted Chief Justice Paul to deploy civil judges from the senior and junior divisions with a minimum three-year experience to verify the claims and objections filed by the voters.

It asked the Calcutta High Court chief justice to request his Jharkhand and Odisha counterparts for requisition of judicial officers of similar ranks to deal with the situation.

"If the Chief Justice of the Calcutta High Court is of the opinion that further human resources are required, he is at liberty to approach the Chief Justices of the High Courts of Jharkhand and Orissa to provide serving or retired judicial officers from those states of similar rank," the bench ordered.

It said both Jharkhand and Odisha used to be a part of Bengal and the people are familiar with the language of West Bengal.

The top court said the travel, honorarium and other expenses of the judicial officers shall be borne by the EC and asked the Chief Justices of Jharkhand and Orissa high courts to sympathetically and urgently consider the request made by the Calcutta High Court chief justice.

The bench said, "The judicial officers involved in the exercise will do the verification of claims and objections with respect to documents referred to in (a) notification dated October 24, 2025, declaring the commencement of SIR in WB read with the June 24, 2025, notification, the order passed by this Court on September 8, 2025 whereby Aadhaar card was allowed to be accepted and order passed by this court on January 19, 2026 whereby Maadhyamik (Class X) admit card and Maadhyamik pass certificate was also allowed to be submitted." "We direct that all such documents, whether submitted electronically or physically, on or before the cut-off date of February 14, 2026, will be considered," the bench said, adding that it will be the responsibility of the Electoral Registration Officers (EROs) and Assistant Electoral Registration Officers (AEROs) to satisfy the judicial officers of the documents referred.

The top court also allowed the EC to publish the final electoral roll on February 28, and clarified that the poll panel can issue supplementary lists as the verification process proceeds.

It exercised plenary powers under Article 142 to enlist voters in the supplementary electoral rolls to be part of the February 28 final list published by the poll panel.

During the hearing, advocate Ashwini Upadhyay told the bench that the use of fake Aadhaar cards was rampant and most cases of fake Aadhaar cards across the country were from Bengal.

Upadhyay submitted, "It is practically seen throughout the country, most of Aadhaar is made in border districts. If the court can add one line to control the usage of fake documents... whenever there are Bangladeshis or Rohingyas detained by the police, the Aadhaar is from Bengal. This is the practical situation." CJI Kant told him, "The matter may require a deeper probe. But this is not the timing. Lest we are misunderstood by anyone, let the right atmosphere and environment come.” Justice Bagchi told the counsel, "You make a representation to the Union of India to amend the Representation of the People Act... This cannot be a discussion before our forum always.

"If Aadhaar has been fraudulently procured on an industrial scale, then it requires to be statutorily regulated. Because the Representation of the People Act was amended, and Aadhaar was brought in as a document which will prove identity. We have to acknowledge that." On February 20, dismayed over the ongoing tussle between the West Bengal government and the EC, the top court issued an "extraordinary" direction to deploy serving and former district judges to assist the poll panel in the controversy-ridden SIR exercise in the state.

Ruing the "unfortunate blame game" and the "trust deficit" between the EC and the "democratically elected" Trinamool Congress government in Bengal, the bench passed a slew of fresh directions to ensure the completion of the SIR exercise.

On February 9, the top court made it clear to the states that it will not allow anyone to create any impediment in the completion of the SIR and directed the WB DGP to file an affidavit on the EC's allegation of burning of its notices by miscreants. PTI MNL RHL

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