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    Protection in predicate offence doesn't automatically extend to PMLA case: Delhi HC
    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
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August 22, 2026
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Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
August 22, 2026
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Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
August 22, 2026
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Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
August 22, 2026
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Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
August 22, 2026
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Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
August 22, 2026
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Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
August 22, 2026
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Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
August 21, 2026
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Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
August 21, 2026
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Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
August 21, 2026
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Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
August 21, 2026
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Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
August 21, 2026
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Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
August 21, 2026
Show AI Summary
Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
Show AI Summary
Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
Show AI Summary
Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.

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PM Modi calls for unity among people to face global crises, tells parties to avoid divisive politics

March 28, 2026

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Noida, Mar 28 (PTI) Prime Minister Narendra Modi on Saturday urged citizens to work with dedication and unity to tackle global challenges and achieve 'Viksit Bharat', while cautioning political parties against making statements that could harm national interests amid the West Asia conflict.

The Prime Minister on Saturday inaugurated the Noida International Airport and in his address said it was essential for India's 1.4 billion people to work hard and face global crises collectively, while stressing that the government prioritises securing India's interests and safeguarding "families and farmers".

Modi, who laid the foundation stone for the greenfield airport in November 2021, emphasised that the government was focused on enhancing citizens' convenience by saving time and reducing costs.

Referring to the ongoing conflict in West Asia, he said he had discussed the situation in detail in Parliament and also held extensive and "very positive" deliberations with the chief ministers of various states.

"I once again appeal to the people of the country that we must face this crisis calmly, with patience and unity. This is a global crisis, but we must prioritise India's interests. That is our greatest strength," he said.

The Prime Minister urged political parties to refrain from making "irresponsible" statements during such times.

"Those who make remarks that harm the country may gain some points in political debates, but such actions will never be forgiven by the people," he said, recalling how voters rejected misinformation campaigns during the COVID-19 pandemic.

The remarks come against the backdrop of political controversies during the COVID-19 pandemic, when Samajwadi Party chief Akhilesh Yadav had publicly expressed reluctance to take a COVID-19 vaccine, triggering a political debate over vaccine hesitancy.

The controversy was a talking point in the run-up to the 2022 UP Assembly elections, in which the Samajwadi Party was defeated, and the BJP retained power.

Modi said that India is confronting the challenges arising from the ongoing conflict in West Asia with full strength.

Highlighting that India depends on crude oil and gas from conflict-affected regions, Modi said the government is taking necessary steps to ensure the burden does not fall on families and farmers.

Modi also inaugurated on Saturday the cargo terminal at the airport and laid the foundation stone for a Maintenance, Repair and Overhaul (MRO) facility to be developed over 40 acres.

"Today marks the beginning of a new chapter in the journey towards a Viksit UP and a Viksit Bharat," he said.

He said Jewar Airport would boost economic activity in the region. "Noida International Airport will create new opportunities for farmers, small traders and youngsters of western UP," he said.

Modi said UP is now among the states with the highest number of international airports and noted that the state which elected him as a Member of Parliament is now identified as a grand aviation hub.

"From here, flights will not only connect to different parts of the world, but will also symbolise the new flight of a Viksit UP. Jewar Airport will connect the entire North India with the world," he said, adding that "the airport is being developed as a state-of-the-art facility with the capacity to handle one aircraft movement every two minutes.

Modi was accompanied by Chief Minister Yogi Adityanath, Civil Aviation Minister Kinjarapu Ram Mohan Naidu and other dignitaries.

Hitting out at the main opposition party in the state, Modi said the Samajwadi Party had turned Noida into an "ATM for loot", but under BJP, it is now emerging as a powerful engine of development.

He added that Noida, once neglected by earlier governments, is now ready to welcome the world, reflecting the spirit of a self-reliant India.

Highlighting the government's aviation policy, Modi said, "We launched the UDAN scheme to ensure that air travel remains within the reach of ordinary families. In the past few years, more than 1.6 crore people have travelled at affordable fares under this scheme." UDAN scheme has recently been expanded with an approved outlay of around Rs 29,000 crore, with plans to develop new airports in smaller cities and build around 200 helipads in the coming years.

Modi said Jewar Airport would benefit a wide region covering Agra, Mathura, Aligarh, Ghaziabad, Meerut, Etawah, Bulandshahr and Faridabad.

Expressing pride, he said UP now ranks among the states with the highest number of international airports.

Modi said the Jewar area is emerging as a logistics hub with the convergence of dedicated freight corridors at Dadri, enabling faster movement of goods to ports in Bengal and Gujarat.

He recalled that the airport project was first approved in 2003 during the tenure of former PM Atal Bihari Vajpayee, adding that improved connectivity would enhance food processing and agricultural exports from western UP.

Modi expressed gratitude to sugarcane farmers, saying ethanol produced from their crop has helped reduce India's dependence on crude oil imports.

He said that without increased ethanol production and its blending with petrol, the country would have had to import an additional 4.5 crore barrels of crude oil annually.

He noted that the initiative has helped save about Rs 1.5 lakh crore in foreign exchange.

Modi said India's aviation sector is growing rapidly, leading to increased demand for aircraft. "These new aircraft and services will require a large workforce for operations, servicing and maintenance. This presents a huge opportunity for the youth," he said.

The PM highlighted the lack of adequate MRO facilities in India in the past, noting that nearly 85 per cent of aircraft had to go abroad for servicing.

"Our government has resolved to make India self-reliant in the MRO sector. Large-scale facilities are now being developed in the country, and an MRO facility has also been launched at Jewar," he said.

Modern transport systems like Metro and Vande Bharat trains are being expanded, Modi said, adding that the Delhi-Meerut Namo Bharat train has already benefited more than 2.5 crore passengers, reducing travel time from hours to minutes.

The Prime Minister said the government has made unprecedented investments in the sector over the past 11 years. "The infrastructure budget has increased more than six-fold. About Rs 17 lakh crore has been spent on highways and expressways, and over 1 lakh kilometres of highways have been constructed," he said.

The first phase of the airport, developed at an estimated cost of Rs 11,200 crore, is envisioned as a multi-modal transport hub.

The project includes a cargo hub with an initial handling capacity of over 2.5 lakh metric tonnes annually, expandable to around 18 lakh metric tonnes. The airport's initial passenger handling capacity will be 12 million passengers per annum, scalable up to 70 million.

Meanwhile, the airport's nodal officer Shailendra Bhatia told PTI that shortly after the event concluded, a state government aircraft made the first landing on the newly built runway, while Chief Minister Adityanath departed on the same aircraft, marking the first takeoff after inauguration.

Officials said regular commercial flight operations are yet to be announced and are expected to begin after the airport security plan receives approval, likely next month. The airport was initially scheduled to commence passenger services from September 2024. PTI CDN KIS DRR MR

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