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    Trai backs sale of all available spectrum; proposes lower entry barriers, 35 pc cap
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    TransUnion CIBIL and State Bank of India's YONO App Collaborate to Integrate CIBIL Score and Report into Everyday Digital Banking
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February 24, 2026
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Spectrum auction policy recommends selling all available bands, reclaiming insolvent holders' airwaves, and easing entry to boost competition.
Trai recommends auctioning all available IMT spectrum and reclaiming airwaves from providers in insolvency, lowers networth entry thresholds for new entrants while retaining 2024 eligibility conditions, and proposes a uniform spectrum cap to protect competition without forcing operators to surrender existing holdings. It prescribes auction modalities, standard 20 year charge periods (with special 600 MHz incentives including extended validity, a payment moratorium and delayed rollout), excludes the upper 6 GHz band pending trials, and introduces a coverage for discount scheme with mandatory tower sharing and periodic spectrum revaluation.
February 24, 2026
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Deployment of judicial officers to expedite electoral roll claim verification, with document-based verification and supplementary enlistment permitted.
The Court authorised deployment of West Bengal civil judges and requisition of similarly ranked judicial officers from Jharkhand and Odisha to verify claims and objections in the SIR exercise, required minimum experience for deployed civil judges, and made the Election Commission responsible for travel, honorarium and related expenses. Judicial officers must verify documents specified in SIR notifications and judicial orders permitting Aadhaar and Class X certificates; all documents submitted on or before the cut-off date will be considered. Electoral Registration Officers and Assistant Electoral Registration Officers must satisfy judicial officers regarding document authenticity. The EC may publish the final roll and issue supplementary lists, with the Court invoking Article 142 to enlist voters in supplementary rolls.
February 24, 2026
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Consumer credit information access enables customers to view and simulate effects on their credit score within their banking app.
Integration embeds consumer credit information access into the bank's YONO app, enabling authenticated customers to view their CIBIL Score and full report, use report analysis and FAQs, and operate a score simulator to model credit events (opening/closing accounts, late payments, clearing dues, new enquiries) so users can monitor credit health, learn via gamified content, and make more informed borrowing decisions within a secure digital banking interface.
February 24, 2026
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Foreign exchange intervention: central bank actions influence currency stability amid trade-policy uncertainty and oil-driven external pressures.
The rupee modestly weakened amid a stronger dollar, higher global oil prices, and weak domestic equities, with reports of possible Reserve Bank intervention selling foreign currency to prevent the exchange rate breaching a psychologically sensitive level; trade-policy uncertainty and reference to a Supreme Court ruling are noted as additional volatility drivers.
February 24, 2026
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Supplementary demand for additional budgetary grants expands state allocations across energy, industries, water, and social sectors.
The state government presented supplementary demands totalling Rs 11,995.33 crore-Rs 5,748.10 crore on the revenue account and Rs 6,003.79 crore on the capital account-with the largest allocation of Rs 4,066 crore for energy, labour, industries and mining, including Rs 3,262 crore for power and Rs 803 crore for village and small industries, alongside specified departmental requests for water supply and sanitation, planning, rural development, food and civil supplies, revenue and forest, medical education and drugs, and OBC welfare.
February 24, 2026
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Reduced RoDTEP rates not applicable to agri and processed food exports, DGFT clarifies after rate cuts
The reduced rates and value caps under the RoDTEP scheme notified on February 23, 2026, are not applicable to exports of agricultural and processed food products falling under ITC HS Chapters 01-24, the DGFT has clarified, thereby excluding those chapters from the newly prescribed lower rates and caps and preserving their existing RoDTEP treatment.
February 24, 2026
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Market volatility driven by AI disruption and trade-policy shifts rattles investor confidence, boosting chip stocks while pressuring AI-exposed firms.
Market volatility intensified as heavy selling targeted companies seen as losers from rapid AI adoption while AI infrastructure suppliers gained; a research scenario warning of AI-induced erosion of the human-centric consumer economy heightened displacement and deflationary concerns, prompting reallocations toward chip and equipment makers and steep declines for cybersecurity and software firms. Trade-policy rhetoric and tariff measures further amplified uncertainty, producing mixed regional market reactions and notable moves in oil, currencies, and cryptocurrency.
February 24, 2026
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Trade facilitation for SEZs under the India-UK agreement could boost export competitiveness and attract technology investment.
Seminar examined the India-UK Comprehensive Economic and Trade Agreement's effects on Special Economic Zones, highlighting trade facilitation, reduction of non tariff barriers, improved market access for SEZ enterprises, and the role of SEZ infrastructure and governance in converting treaty commitments into export competitiveness and sustained investment-with targeted focus on IT/ITES and semiconductor SEZs.
February 24, 2026
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Financial modernisation drove phased computerisation and regulatory reforms to strengthen banking operations and promote inclusion.
Satyendra Kumar advocated phased computerisation of banking operations as a strategic investment to correct systemic weaknesses in public sector banks, improve transaction processing and fraud prevention, and pave the way for widespread adoption of Core Banking Solutions.
February 24, 2026
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Regulatory directives not always subject to judicial scrutiny; banks may proceed with fraud classification absent clear irreparable harm.
The Master Directions aim to secure public money by enabling early detection, reporting and mitigation of fraud risk, and not every contravention of those Directions is amenable to judicial scrutiny. Banks may engage external auditors or forensic experts and the Directions do not require a mandatory form of forensic report before banks make final decisions. An earlier interim stay on banks classifying accounts as fraud was set aside as procedurally irregular and based on flawed factual and legal assumptions; continuation of proceedings was held not to cause irreparable harm and injunctive relief was inappropriate.
February 24, 2026
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Nomination rules: one entry per category for BFSI Tech Awards, judged by an independent expert panel; submit by the deadline.
Public and private sector banks, co-operative banks, NBFCs, and insurance companies may nominate measurable, scalable technology-led initiatives. Only one team or division may be nominated per category; multiple entries within the same category are prohibited. Nominations must include detailed case studies addressing objectives, implementation, innovation, measurable outcomes, and long-term impact. An independent panel of industry and technology experts will adjudicate entries to ensure transparent, merit-based evaluation, and awards will be conferred by a designated industry leader. A final submission cutoff and contact details are provided.
February 24, 2026
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Trade policy risk from tariff remarks dents markets, compounding AI-driven IT sector rout and oil-price pressures.
Equity benchmarks fell nearly one percent as a sharp selloff in IT stocks-driven by fears of AI-related disruption-pulled indices lower, while trade-policy uncertainty from tariff remarks and rising crude oil prices compounded market unease; foreign institutional buying contrasted with domestic institutional selling.
February 24, 2026
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Export controls: China bans dual-use exports to selected Japanese firms and tightens licensing with risk assessments and pledges.
China imposed targeted export controls on selected Japanese firms by banning exports of designated dual-use goods to a specified group and requiring individual export licences, risk assessment reports, and written assurances for another group; the measures also bar foreign persons from supplying those banned items and require immediate cessation of related activities.
February 24, 2026
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Presidential tariffs prompt legal uncertainty after court rejection of broader authority, spurring market volatility and potential litigation.
The article reports that the president announced a temporary import tariff measure after the Supreme Court struck down a broader reciprocal tariff regime, raising questions about the scope of presidential tariff authority and the likelihood of subsequent litigation. The announcement produced market volatility as investors weighed legal uncertainty over trade policy and possible challenges to the new, narrower tariff action.
February 24, 2026
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Trade diversification strategy: Canadian prime minister seeks to expand non US exports and secure partnerships on critical minerals and clean energy.
The Canadian prime minister is undertaking visits to India, Australia and Japan to expand export markets and attract investment, conducting high level meetings and sectoral talks-including defence, artificial intelligence, clean energy, critical minerals and food security-to increase non US exports and reduce dependence on the United States, driven by concerns over tariff threats and economic coercion and set against strained Canada-India relations.
February 24, 2026
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Illegally collected tariffs: lawmakers seek mandatory refunds and interest while administration says refunds await court litigation.
Senate Democrats propose legislation directing Customs and Border Protection to refund tariff revenues found to have been collected under unlawful executive orders, requiring refunds within 180 days with interest, prioritising small businesses and encouraging importers and wholesalers to pass repayments to customers, while the administration maintains refunds should be resolved through litigation and that the Supreme Court ruling did not settle refund procedures.
February 24, 2026
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Political criticism: BJP says opposition's remark reflects organisational decline, urging focus on party affairs and governance.
BJP leadership dismissed an SP chief's remark about potential legislative manoeuvring as reflecting opposition frustration and political bankruptcy, stressing that the SP's support base is declining amid nepotism and infighting while the BJP emphasises discipline and governance priorities.
February 24, 2026
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Tariff authority challenged after court ruling; executive threatens higher uniform import taxes while refund legislation advances.
The article concerns the legal and policy dispute after the Supreme Court struck down broad import tariffs imposed under an asserted emergency powers authority, the executive threat to raise and enforce uniform import taxes despite that ruling, and proposed legislation to require refunds with interest administered by customs, prioritizing small businesses, while refund procedures remain legally and operationally uncertain.
February 24, 2026
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Tariffs escalation jolts markets, triggering investor concern over AI-vulnerable firms and renewed trade uncertainty globally.
The article describes markets reacting to the administration's escalation of temporary import tariffs after the Supreme Court limited a prior broad tariff framework, with the executive signaling use of alternative statutory routes for permanent measures. That policy shift, coupled with investor selling of companies deemed vulnerable to AI-driven competition and ambiguous signals from monetary authorities, is framed as intensifying trade-policy uncertainty and contributing to sector-specific stock declines and broader market volatility.
February 24, 2026
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Tariff cap breach imperils trade agreement ratification as EU seeks clarity on unilateral global import duties.
EU legislators paused ratification of the US EU trade deal after the US announced a unilateral global import tariff under an alternative trade law; the EU says applying that duty on top of existing tariffs would breach the agreed tariff ceiling and demands clarity on how the US will honour the agreement. The measure also raises questions about bilateral deals negotiated with reference to prior tariff threats and is of limited duration unless extended by the legislature.

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Central Board of Indirect Taxes and Customs (CBIC) to host National Symposium on Customs Reforms and International Customs Day 2026 with the theme of ‘Customs protecting society through vigilance and commitment’

February 26, 2026

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Union Minister of State for Finance Shri Pankaj Chaudhary to preside over International Customs Day 2026 in New Delhi tomorrow

The Central Board of Indirect Taxes and Customs (CBIC) is hosting the National Symposium on Customs Reforms, 2026, and International Customs Day, 2026, in New Delhi, tomorrow.

Union Minister of State for Finance Shri Pankaj Chaudhary will preside over the International Customs Day 2026 along with Shri Arvind Shrivastava, Secretary, Department of Revenue; Shri Vivek Chaturvedi, Chairman, CBIC; and officials of Department of Revenue, Ministry of Finance, and CBIC, will also remain present.

The International Customs Day 2026 will witness screening of a short film on Customs Reforms; an audio-visual presentation and launch of Single Window SWIFT 2.0; release of the SWIFT 2.0 Booklet and the Digital Travellers Guide; and release of the revamped Atithi App.

The celebrations will also witness the stakeholder feedback from representatives of trade and industry. The event will also include the distribution of the WCO Certificate of Merit to distinguished officers (List in Annexure-I).

Prior to the International Customs Day 2026 celebrations, CBIC is also organising the National Symposium on Customs Reforms 2026.

Shri Arvind Shrivastava, Secretary, Department of Revenue, will preside over the National Symposium on Customs Reforms 2026 along with Shri Vivek Chaturvedi, Chairman, CBIC, for the session. The session will commence with remarks by the Member (Customs), CBIC, setting the context for the deliberations. 

This will be followed by an overview presentation on Customs Reforms by the Joint Secretary (Customs), CBIC, outlining key policy and procedural advancements. The session will comprehensively cover trust-based customs processes and digital governance, including recent legal changes and import procedural reforms. It will also highlight the evolution of the digital ecosystem through initiatives such as SWIFT 2.0 and the Customs Integrated System (CIS). In addition, the discussions will focus on emerging export opportunities, including courier reforms, fisheries enablement and export procedure reforms. Special emphasis will also be placed on ease of living measures, particularly reforms relating to baggage rules and personal imports.

The Symposium will highlight India’s ongoing transformation in Customs administration, focusing on trust-based processes, digital governance, trade facilitation and ease of living for citizens.

The event will bring together senior government officials, policymakers, trade representatives, industry stakeholders and officers from across the country to deliberate on key reforms shaping the future of Indian Customs.

The Symposium underscores CBIC’s continued commitment to simplifying procedures, enhancing transparency, strengthening digital infrastructure and fostering a partnership-driven approach with trade and citizens.

ANNEXURE-I

List of Distinguished Officials awarded WCO Certificate of Merit

Sl. No.

Name of Officer

Designation and Formation

 

(Shri/Smt.)

 

1

Dr. Puneeta Bedi

Director, TRU-I, CBIC, New Delhi

2

Balmukund

Additional Commissioner, CCO, Mumbai Customs Zone-I

3

Ms. Parinati Sunkar

Additional Director, DRI, Indore Zonal Unit

4

Kazi Suhail Aneesahmad

Additional Director, NCTC (Cargo), Mumbai

5

Rigved Thakur

Joint Commissioner, Member (lT, TPS & Tech), CBIC,

6

Sadeesh Kumar K

Joint Commissioner, Chennai Airport Customs, Commissionerate

7

Amit Kumar Gupta

Joint Commissioner, Directorate of International Customs

8

Sandeep Suryabhan Gunjal,

Joint Commissioner, Commissioner of Customs, Airport and ACC, Bangaluru

9

Roy Varghese

Deputy Commissioner, Custom House, Cochin

10

Prabhjot Kaur

OSD, Customs & EB, CBIC, New Delhi

11

Veenu Kavaria

Deputy Director, DRI, Mumbai Zonal Unit

12

Sakshi Garg

Under Secretary, GST Policy Wing, CBIC, New Delhi

13

Rajender Kumar Gupta

Assistant Commissioner, O/O the Chief Commr., Customs Delhi Zone, New Delhi

14

Ananya Kumar Singh

Technical Officer, TRU-I, CBIC, New Delhi

15

Rajan Keswani

Superintendent, Customs IV Section, Customs Policy Wing

16

Veena Rao

Superintendent, Custom, Canine Centre, Attari

17

Bhawani Singh Shekhawat

Superintendent, Custom, Prev. Jaipur

18

Rajbinder Singh

Superintendent, DRI Regional Unit Mangaluru

19

Khaimuansang

Intelligence Officer, DRI, Aizawl Regional Unit

20

Vinod  Badola

Tax Assistant, DRI, Head Quarter, New Delhi

****

NB/KMN

Topics

Acts Income Tax