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    Manohar Lal arrives in Bhutan on 4-day visit; focus on energy security, sustainable development
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April 9, 2026
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Energy security and cross-border power trade shape India-Bhutan cooperation through hydropower, clean energy and technical agreements.
India-Bhutan bilateral engagement focused on strengthening cooperation in energy security, sustainable development, clean energy, hydropower and regional power trade. Discussions covered an enhanced bilateral institutional framework for regular review and coordination of initiatives, including non-hydro energy, cross-border transmission, project financing, capacity building and institutional partnerships. The parties also signed the Tariff Protocol for the Punatsangchhu-II Hydroelectric Project and a methodology for reactive energy accounting to support grid stability and cross-border electricity exchange.
April 9, 2026
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Trade Receivables Discounting System directions seek to harmonise TReDS guidelines and support MSME receivables financing.
Reserve Bank of India has released draft Trade Receivables Discounting System Directions to rationalise and harmonise the existing guidelines governing TReDS platforms. The draft framework is intended to support financing of MSME trade receivables through regulated discounting mechanisms. The draft Directions have been issued for public consultation, and comments or feedback may be submitted by regulated entities and other stakeholders through the prescribed online regulatory feedback channel within the stipulated consultation period.
April 9, 2026
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Bank board governance reform shifts to principle-based guidance after RBI issues draft amendment directions for public consultation.
Reserve Bank of India has issued draft governance amendment directions for commercial banks, small finance banks, payments banks and local area banks for public comments. The proposed changes follow a comprehensive review and rationalisation of existing instructions on matters to be placed before bank boards, including their periodicity, so that boards may focus more effectively on strategy and risk governance. The draft framework replaces the earlier seven broad themes with principle-based guidance on board matters and retains RBI's ability to mandate policies and items for board approval, review or information.
April 9, 2026
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Investment Fluctuation Reserve rules updated through draft directions to align bank-wise prudential treatment and reporting clarity.
Reserve Bank of India has placed draft Amendment Directions for public comments to revise the framework on Investment Fluctuation Reserve across multiple categories of banks, together with related amendments on capital adequacy and financial statement disclosures. The draft seeks to modify the existing instructions governing classification, valuation and operation of investment portfolios and the treatment of IFR under the applicable prudential framework. The proposed changes aim to address operational difficulties, align instructions across bank categories, dispense with the IFR requirement for certain banks, require compliance as on balance-sheet dates, and harmonise related instructions for regulatory clarity.
April 9, 2026
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Common Equity Tier 1 capital rules revised as quarterly profit recognition conditions for CRAR are proposed for removal.
Reserve Bank of India has issued draft amendment directions on the inclusion of quarterly profits in Common Equity Tier 1 capital for CRAR computation by commercial banks, small finance banks and payments banks. The draft proposes revisions to the prudential norms on capital adequacy and invites public comments. The existing rule for commercial banks permits quarterly recognition of current-year profits for CRAR calculation subject to a condition on incremental provisions for non-performing assets, and the proposed review removes that qualifying condition.
April 8, 2026
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Horticulture development roadmap targets export growth, stronger production, and better market linkages for Jammu and Kashmir crops.
Operation Golden Greens proposes a phased horticulture development roadmap for Jammu and Kashmir centred on five sub-missions for dry fruits, fresh fruits, vegetables, floriculture and minor crops. The plan seeks to raise production, improve quality, strengthen market linkages and expand exports of apple, walnut, almond and saffron through branding, irrigation support, storage and cold-chain infrastructure, grading, packaging, processing, CA storage and high-density plantations.
April 8, 2026
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Ceasefire-driven oil supply relief lifts global stocks as Strait of Hormuz disruption fears ease.
Global markets rallied and crude oil prices fell after a two-week ceasefire eased fears of disruption to shipping through the Strait of Hormuz and the flow of oil from the Persian Gulf. The article notes that uncertainty remained over whether maritime traffic would normalise and whether the truce would last, but the immediate effect was a sharp recovery in stocks, especially energy-sensitive sectors, and lower Treasury yields as inflation concerns eased.
April 8, 2026
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Money-laundering investigation leads to provisional attachment over alleged illegal nightclub operation and forged compliance documents.
Money-laundering investigation under the Prevention of Money Laundering Act concerned a Goa nightclub allegedly operated without mandatory statutory approvals, including the requisite fire no objection certificate and a valid trade licence. The Enforcement Directorate issued a provisional attachment of immovable assets valued at Rs 17.45 crore, stating that the properties were connected with the suspected illegal operation of the establishment and were situated in Goa. The agency alleged that forged documents were used to obtain licences and that revenue from the alleged illegal operation constituted proceeds of crime.
April 8, 2026
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Rupee recovery and unchanged RBI policy reflect easing geopolitical stress, softer crude, and cautious monetary outlook.
The rupee appreciated against the US dollar after easing geopolitical tensions, a softer dollar index and lower crude oil sentiment. The Reserve Bank of India kept the key policy rate unchanged and maintained a neutral stance, assessing the impact of the West Asia conflict on energy supplies, inflation, growth and trade flows. It also projected higher crude oil prices and a weaker rupee for the next financial period.
April 8, 2026
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Repo rate unchanged as geopolitical uncertainty eases and equity markets rally on lower crude prices.
Equity markets rallied sharply after a two-week US-Iran ceasefire, with broad gains across stocks, sectoral indices and market capitalisation. The surge was linked to lower crude prices, reduced geopolitical uncertainty and improved risk sentiment, with comments noting support for inflation, the current account deficit, the rupee and fiscal conditions. The Reserve Bank of India kept the benchmark repo rate unchanged at 5.25 per cent and maintained a neutral stance as policymakers assessed uncertainty from the West Asia conflict, including risks to energy supplies, inflation, growth, trade flows and currency stability.
April 8, 2026
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Banking supervision review confirms no governance concern and no present need for regulatory changes.
Banking sector supervision includes review of board minutes and related records as part of regular oversight. The supervisory review disclosed no governance or conduct-related material issue, and the regulator stated that no change in guidelines is presently considered necessary, though further directions may be introduced if future circumstances require them. Reported fraud incidents were characterised as criminal activity involving colluding individuals, with no present indication of systemic risk or need for a regulatory tweak.
April 8, 2026
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Battery industry transition toward higher-value lithium-ion, energy storage, and low-carbon manufacturing takes center stage at a major exhibition.
China's battery sector is described as shifting from scale toward higher-value lithium-ion products, power batteries, energy storage technologies, smart manufacturing, and lower-emission production. The 18th China International Battery Fair is presented as a major international exhibition covering batteries, materials, manufacturing equipment, system solutions, and recycling applications, with forums on advanced batteries, new energy storage, battery carbon-footprint management, and battery passport themes.
April 8, 2026
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Rupee stability and high-growth reforms frame India's path to developed nation status amid global uncertainty.
The Indian Rupee is expected to stabilise around the 92-93 level against the US dollar, with pressure attributed to global geopolitical headwinds and foreign institutional investor withdrawals. Strong macroeconomic fundamentals, fiscal space, and a comfortable current account deficit are described as supporting currency resilience, while the Reserve Bank of India's decision to keep policy rates unchanged is characterised as appropriate in the prevailing environment.
April 8, 2026
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Crude price correction and ceasefire-led sentiment drive a broad equity rally as the central bank holds policy steady.
Equity benchmark indices rallied sharply as global risk sentiment improved following a temporary US-Iran ceasefire, which triggered a steep correction in crude oil prices and eased concerns over inflation, growth and energy supply disruptions. Broad-based buying across sectors, stronger global markets and a firmer rupee supported the advance, while Indian volatility eased and sectoral indices, mid-cap stocks and small-cap stocks also moved higher. Brent crude fell sharply and Asian and European markets recorded strong gains, reflecting the wider recovery in market sentiment.
April 8, 2026
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Strait of Hormuz supply disruption eases as ceasefire improves tanker movement and steadies India's energy imports.
A conditional ceasefire between the United States and Iran eased pressure on India's energy supplies by lowering crude prices and improving prospects for transit through the Strait of Hormuz. India had earlier reduced LPG and natural gas supplies, then partially restored them as alternative sources were secured, while directing city gas distributors to prioritise piped natural gas connections for commercial users. Shipping authorities aimed to move stranded vessels before resuming trade.
April 8, 2026
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Hydro electric project investment approval strengthens power supply, enables infrastructure development, and provides free power and local area benefits.
Investment approval is granted for construction of the Kalai-II Hydro Electric Project on the Lohit river in Anjaw District of Arunachal Pradesh, with an installed capacity of 1200 MW and an estimated completion period of 78 months. The project is expected to generate annual energy output and to strengthen power supply in the State, assist in peak demand management, and contribute to balancing the national grid. The arrangement provides for 12% free power to the State and an additional 1% earmarked for the Local Area Development Fund.
April 8, 2026
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Hydroelectric project approval strengthens power supply, grid balancing and regional infrastructure development in Arunachal Pradesh.
Cabinet approval was granted for investment in the construction of the Kamala Hydro Electric Project in Arunachal Pradesh through a joint venture between NHPC Limited and the Government of Arunachal Pradesh. The project is intended to generate energy, support power supply and peak demand management, contribute to grid balancing and provide flood moderation benefits, while also including budgetary support for flood moderation and enabling infrastructure. The State is stated to receive free power, a Local Area Development Fund share and wider infrastructure and socio-economic benefits.
April 8, 2026
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Refinery cost revision and equity investment support a greenfield petrochemical complex aimed at energy security and import reduction.
Revision of the project cost for HPCL Rajasthan Refinery Limited at Pachpadra, District Balotra, Rajasthan, has been approved, along with additional equity investment by Hindustan Petroleum Corporation Limited. The project is a 9 MMTPA greenfield refinery-cum-petrochemical complex with 2.4 MMTPA petrochemical production capacity, implemented through a joint venture between HPCL and the Government of Rajasthan. The refinery is intended to support energy and industrial requirements, reduce import dependence, use locally available Mangala crude, and promote India as a refining hub.
April 8, 2026
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Rupee stability and macroeconomic resilience support expectations of steady growth, manageable deficits and appropriate policy rates.
Indian rupee is expected to stabilise around the 92-93 level against the US dollar, after pressure from global uncertainties, geopolitical tensions and foreign institutional investor withdrawals. India's economic resilience, strong macroeconomic fundamentals and fiscal space were described as cushioning the economy against external shocks. The current account deficit was described as remaining manageable, the Reserve Bank of India Monetary Policy Committee's decision to keep policy rates unchanged was described as appropriate, and growth expectations were stated to remain positive.
April 8, 2026
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Monetary policy caution kept the repo rate unchanged as conflict-driven energy and inflation risks weighed on the outlook.
The Reserve Bank of India kept the benchmark repurchase rate unchanged at 5.25 per cent, taking a cautious wait-and-watch stance amid uncertainty over the impact of the West Asia conflict on energy supplies, inflation and growth. The Monetary Policy Committee voted unanimously to retain the status quo, citing higher crude prices, pressure on the rupee and trade disruption.

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Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt

March 27, 2026

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New Delhi, Mar 27 (PTI) The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

The opposition party's attack came after the government slashed excise duty on petrol to Rs 3 per litre and exempted diesel fully from the duty.

Congress general secretary in-charge communications Jairam Ramesh said, "When global crude oil prices fell as they did on seven different occasions in the past 12 years consumer prices in India were not reduced." "Today's announcement was because of assembly elections. Wait till April 30th," he said.

Assembly elections in Assam, Kerala and Puducherry will be held on a single day on April 9, in Tamil Nadu on April 23, and in two phases in West Bengal on April 23 and 29, while votes will be counted for all polls on May 4.

The Congress's media and publicity department head, Pawan Khera, said, "If you saw the headlines about petrol and diesel prices 'coming down' and thought the government had offered relief to your pocket, you'd be mistaken." As of now, prices remain the same for dealers and for consumers, he claimed.

"What has actually been reduced is the 'special additional excise duty', a levy paid by Oil Marketing Companies to the government. The words 'special' and 'additional' reveal how unnecessary this tax is," Khera said on X.

He pointed out that these companies had been absorbing losses since the outbreak of the conflict in West Asia.

"The government has now merely agreed to share a small part of that burden but reducing the 'special additional' levy - that too almost a month later," the Congress leader said.

"Relief exists but only in the narrative -- not in reality. Instead of manufacturing headlines and fooling people, the government should focus on delivering actual relief to consumers," he said.

In another post, Khera pointed out the rise in fuel prices, irrespective of crude prices over the years.

"Modi's Masterstroke: Cheaper crude. Costlier fuel. In May 2014, crude oil was at $106.94 per barrel. Petrol cost Rs 71.71 per litre, and diesel Rs 56.71. Fast forward to just before the West Asia conflict — crude oil had fallen to around USD 70 per barrel. But petrol was selling at Rs 94.72 per litre, and diesel at Rs 87.62 in Delhi," he said.

India also bought crude oil from Russia at a discounted rate, but the benefit did not translate into relief for consumers, he said.

"It only made the Ambanis richer," Khera said.

He added, "Because between 2014 and 2026, the government revised the excise duty a total of 21 times, increasing it 12 times. So much for Achche Din!" The Congress leader also lashed out at Petroleum Minister Hardeep Singh Puri for saying that the government decided to "take a hit" on its own finances to safeguard Indian citizens.

"Oh, how magnanimous! The tone is patronising and condescending - packaging as charity and favour what is, in fact, the basic responsibility of any government. Mr Puri, the government and the money both are of the people of India. They do not belong to #Epstein," Khera said.

"This language also reeks of entitlement – it sounds more like a ruler doling out favours from his own coffers, rather than a government spending the 'people's money' for the 'people'," he said.

"Clearly sharing friends with monarchs like Prince Andrew has deteriorated his sense of democratic responsibility and accountability. Every time he speaks, he undermines his own suitability for the office he holds," Khera said.

Congress MP Manish Tewari slammed Puri, saying he portrayed this move as if the government was paying out of its own pocket.

Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from Tehran.

In a notification issued on March 26, the Finance ministry cut excise duty to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel was slashed to nil from Rs 10 earlier.

The duty cuts are effective immediately, the ministry said.

Despite the spike in international prices, retail pump rates have not been changed, putting a strain on the finances of oil companies.

The government cuts stand to give some relief to oil companies.

Tracking the excise duty cut notification, shares of fuel retailers IOC, BPCL, and HPCL opened higher on BSE.

International oil prices touched USD 119 per barrel earlier this month, before pulling back to around USD 100 per barrel.

India imports 88 per cent of its crude oil and roughly half of its natural gas. These mostly come via the Strait of Hormuz. PTI ASK VN VN

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