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    RBI issues Draft Master Direction on Prepaid Payment Instruments (PPIs), 2026
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    PixerLens and Tata Consultancy Services Partner to Deliver AI-Powered Application Intelligence on TCS SovereignSecure™ Cloud
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April 23, 2026
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Prepaid Payment Instruments framework revised through draft direction aimed at stronger transaction security and long-term growth.
The Reserve Bank has released a draft Master Direction on Prepaid Payment Instruments after reviewing the existing guidelines, aiming to support long-term growth of PPIs and enhance transaction security. Regulated entities, members of the public and other stakeholders may submit feedback through the designated online regulatory channel within the consultation period.
April 23, 2026
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Electric vehicle logistics partnership expands pan-India delivery operations with lower costs, higher uptime, and sustainability focus.
Zen Mobility and Delhivery entered into a Memorandum of Understanding for a long-term partnership to deploy purpose-built electric vehicles across India over the next 3-5 years. The rollout covers electric two-wheelers, three-wheelers and four-wheelers customised to city-wise and route-wise logistics needs across Tier 1, Tier 2 and Tier 3 cities. Zen Flo will support deployment and fleet operations, while the arrangement is presented as reducing last-mile logistics costs, improving vehicle uptime and advancing lower-carbon delivery operations.
April 23, 2026
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Secure AI adoption on sovereign cloud through a partnership focused on compliance, governance, and enterprise resilience.
PixerLens and Tata Consultancy Services announced a strategic partnership to deploy PixerLens' AI platform on the TCS SovereignSecure Cloud as a joint enterprise offering. The collaboration focuses on AI-powered application intelligence for vulnerability management, application performance, quality, security, audit readiness, compliance, and operational resilience. It also emphasises secure AI adoption within a cloud environment designed to maintain data sovereignty, security, regulatory compliance, governance, visibility, and resilience.
April 23, 2026
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Invoice Management System offline tool streamlines GST invoice actions, validation, and JSON upload for taxpayer compliance.
The GST Invoice Management System has been supplemented with an Excel-based offline tool to improve taxpayer convenience and ease of compliance. The utility enables recipient taxpayers to act on invoice records uploaded through GSTR-1, GSTR-1A, or IFF by accepting, rejecting, or keeping them pending, and to handle individual as well as bulk invoices efficiently. The offline process requires downloading IMS data in JSON format, opening it in the tool, taking the required action, validating the sheet, and generating a JSON file for upload back to the GST portal.
April 23, 2026
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Monetary policy stance remains neutral as the repo rate stays unchanged amid supply shock risks and contained inflation pressures.
The Monetary Policy Committee reviewed evolving global and domestic macroeconomic conditions and unanimously kept the policy repo rate unchanged at 5.25 per cent under the liquidity adjustment facility. The standing deposit facility rate remained at 5.00 per cent, while the marginal standing facility rate and Bank Rate remained at 5.50 per cent. The Committee also continued with a neutral stance, treating the West Asia conflict as a supply shock that created downside risks to growth and upside risks to inflation, while noting that underlying inflation pressures remained contained and inflation expectations anchored.
April 22, 2026
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Interim protection from arrest refused in a harassment and religious feelings case amid serious criminal antecedents.
Interim protection from arrest was refused in a case involving allegations of sexual harassment, forcible conversion and deliberate acts intended to outrage religious feelings. The court noted serious criminal antecedents, wide social repercussions, and that the investigation was at a nascent stage, observing that the applicant's alleged conduct could not be viewed in isolation. The accused, already in judicial custody in a connected matter, had sought interim bail while the prosecution was directed to file its response.
April 22, 2026
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Fraudulent Input Tax Credit network exposed through bogus firms, fake invoices and layered GST routing across multiple states.
Large-scale GST fraud involving the generation and routing of fraudulent Input Tax Credit across multiple States was uncovered by the Commercial Taxes Department. The mechanism involved multiple fictitious business entities issuing fake tax invoices without actual supply of goods and passing ineligible ITC to entities in Karnataka, Andhra Pradesh and Tamil Nadu. The fraudulent ITC was further routed to works contractors and traders for discharging tax liabilities through credit instead of cash payment, causing loss to the government exchequer.
April 22, 2026
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Monetary policy caution: RBI keeps repo rate unchanged as West Asia conflict fuels inflation and growth risks.
The Monetary Policy Committee retained the repo rate unchanged and continued with a neutral stance after assessing the effect of the West Asia conflict on inflation, growth, energy supplies and global trade flows. Members treated the disruption as a supply shock marked by higher crude and commodity prices, a weaker rupee, logistics constraints and uncertainty over the persistence of inflationary pressure. The committee adopted a cautious wait-and-watch approach while emphasising vigilance on inflation expectations and the risks to growth.
April 22, 2026
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RBI approval for part-time chairman appointment highlights regulated bank governance and conditional leadership transition.
Reserve Bank of India granted prior approval for Debasish Panda's appointment as part-time chairman of Bandhan Bank for three years, effective from the date he assumes charge and subject to regulatory conditions. The bank said the proposal would be placed before its Nomination and Remuneration Committee and Board for consideration and approval.
April 22, 2026
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GST input tax credit fraud through bogus firms, forged documents, and fake invoices exposed in a loan-lure racket.
GST input tax credit fraud involving bogus firms was allegedly carried out by collecting Aadhaar and PAN details on the pretext of Mudra loans, obtaining SIM cards, and registering fake GST entities with forged rent agreements and electricity bills. The shell entities were used to generate fake invoices and e-way bills, project fictitious transactions as genuine, and sell fraudulent ITC on commission. A case was registered on a complaint about a non-existent firm claiming ineligible ITC, and one accused was arrested.
April 22, 2026
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Market volatility and energy disruption concerns shape cautious trading as investors watch the Iran ceasefire and Strait of Hormuz.
Wall Street traded cautiously higher in premarket action as markets reacted to an extended ceasefire involving Iran and continuing uncertainty over whether the truce would hold. Oil prices remained volatile amid concern over energy disruption and the Strait of Hormuz, while broader global markets showed mixed moves. The report also noted company-specific trading in Boeing and Best Buy, and wider market reactions in Europe and Asia against the backdrop of inflation pressure, trade deficits, and tariff-related supply effects.
April 22, 2026
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Monetary policy rates stay unchanged as West Asia conflict raises inflation, growth and supply chain risks.
The Monetary Policy Committee retained the benchmark repurchase rate unchanged and maintained a neutral stance amid uncertainty from the West Asia conflict. The minutes describe the situation as a supply shock affecting exports, critical commodity supplies, energy and other commodity prices, remittances, trade flows, and global demand, with supply chain disruptions and a weaker rupee creating upside risks to inflation and downside risks to growth.
April 22, 2026
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Customs duty relief and GST reduction on induction cooktops aim to ease prices and support domestic manufacturing amid crisis-driven supply stress.
Consideration of a customs duty reduction on critical induction cooktop components and a proposed GST reduction on induction cooktops seeks to support domestic manufacturing and improve affordability amid supply disruption caused by the West Asia crisis. The government has also extended the implementation timeline for the mandatory quality control order on certain electrical appliances and pushed back related energy efficiency timelines. Parallel facilitative steps were taken by the Petroleum and Explosives Safety Organization to maintain uninterrupted fuel and gas availability through approvals, temporary relaxations, and infrastructure-related guidelines.
April 22, 2026
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Money laundering prosecution linked to cooperative bank scam and predicate offence closure report in focus
A special court considered discharge applications in an Enforcement Directorate money-laundering case linked to the Maharashtra State Co-operative Bank scam. The prosecution stemmed from allegations of fraudulent sale of cooperative sugar mills without due procedure and irregular loan disbursal causing losses to the state exchequer. The ED had filed a main prosecution complaint and supplementary complaints against 17 accused and opposed discharge, citing pending proceedings related to the underlying closure report and writ petition. The issue concerned the continuation of the money-laundering case after acceptance of the closure report in the predicate offence.
April 22, 2026
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Atal Pension Yojana expands voluntary pension security with guaranteed benefits, spouse continuation, and nominee corpus return.
Atal Pension Yojana is a voluntary, contributory pension scheme administered by the Pension Fund Regulatory and Development Authority as part of India's social security framework for workers in the unorganised sector and other eligible citizens. It provides a guaranteed monthly pension at 60 years of age, continuation of the pension to the spouse after the subscriber's death, and return of the accumulated corpus to the nominee after the death of both. Eligibility is limited to Indian citizens aged 18 to 40 years who are not income tax payers.
April 22, 2026
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Prime Minister Internship Scheme eligibility expanded to include final-year graduate and postgraduate students with institutional NOC requirements.
The Ministry of Corporate Affairs has expanded the eligibility criteria for the pilot phase of the Prime Minister Internship Scheme to include final-year undergraduate and postgraduate students, while requiring continued compliance with the existing eligibility criteria. Applicants must submit a No Objection Certificate from their educational institution confirming that participation in the internship will not interfere with academic requirements. The scheme is designed to provide structured, paid internship opportunities through the official PMIS portal.
April 22, 2026
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AI-driven revenue and workflow automation define BlueFocus's 2025 strategy, alongside expanded talent, investment, and overseas growth.
BlueFocus reported 2025 results showing stronger operating momentum and increased AI-driven revenue, with token usage exceeding one trillion as a measure of AI integration across workflows. The company said AI is embedded in social media insights, creator analysis, advertising risk control, creative extraction, budget adjustment, and video production through its Blue AI platform, while also expanding AI talent, AI Native investments, and overseas operating capacity.
April 22, 2026
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Savings accounts drive disciplined financial planning through budgeting, automation, digital tools and interest rate optimisation.
Savings accounts are described as the starting point of financial planning for salaried individuals at the beginning of a new financial year, when income flows, bonuses and revised compensation structures are reassessed. The article emphasises structured budgeting through multiple accounts or buckets, greater use of digital savings accounts, and optimisation of savings account interest rates through balance management, bank comparison and tier-based structures. It also highlights automation, emergency funds and the growing tendency to review and switch to more efficient banking solutions.
April 22, 2026
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Seafood export diversification drives record marine earnings as frozen shrimp leads growth despite weaker shipments to the United States.
India's seafood exports reached an all-time high in FY 2025-26, driven primarily by frozen shrimp, which contributed the largest share of export earnings. While shipments to the United States declined amid reciprocal tariffs, stronger growth in China, the European Union and Southeast Asia supported diversification across markets. Additional momentum came from frozen fish, squid, cuttlefish, dried items, live products, surimi, fishmeal and fish oil, with major ports continuing to account for most export value.
April 21, 2026
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Workplace sexual harassment allegations and delayed FIR claims shape bail plea in the TCS Nashik case.
Bail application filed by an accused in an alleged workplace sexual harassment and religious sentiments case at TCS's Nashik unit. The accused denied disparaging remarks about religion, claimed the complaint arose from frustration or parental pressure, and argued that the FIR was delayed without adequate explanation. The allegations include sexual harassment, deceitful inducement, and outrage of religious feelings, with Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act provisions also invoked.

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TCS case: No interim relief to arrested employee in related matter; court cites 'criminal antecedents'

April 22, 2026

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Nashik, Apr 22 (PTI) A local court has denied interim protection from arrest to TCS employee Danish Shaikh in another case related to alleged sexual harassment and forcible conversion at the local unit of the firm, noting that there are “serious criminal antecedents” against the accused.

Citing the preliminary stage of the investigation, the court also stated that the purported offence has wide social repercussions affecting law and order in the society.

"The allegations in the FIR suggest that Shaikh had indulged in deliberate and malicious acts intended to outrage religious feelings of the informant," said Additional Sessions Court Judge V V Kathare.

The court highlighted that the allegations "cannot be looked into in isolation, when there are serious criminal antecedents against the applicant".

The 31-year-old accused is already arrested in one of the nine FIRs registered in connection with the alleged sexual exploitation and religious harassment case at the Nashik unit of TCS . He is currently in judicial custody.

He has requested interim bail in the case registered at the Mumbai Naka Police Station in Nashik until the main plea was decided.

Opposing the plea, the prosecution sought time to file a response.

The court on Tuesday refused interim relief and directed the prosecution to file its response by April 27.

The court acknowledged that the FIR "reveals uttering of the specific words by the applicant with the deliberate intent to wound the religious feeling of the informant".

"The offence charged is having wide social repercussions affecting the law and order situation in the society," the court said, adding that the investigation is at a nascent stage and his release would certainly affect the progress of the investigation.

In this specific case, Shaikh has been booked under Bharatiya Nyaya Sanhita (BNS), 75 (Sexual harassment), 299 (Deliberate acts to outrage religious feelings), among others.

The SIT is probing a total of nine cases registered in connection with the alleged exploitation, attempt of forceful conversion, hurting religious sentiments, molestation and mental harassment of female employees at the TCS unit.

Eight employees, including a woman HR manager of the Nashik TCS unit, have been arrested so far.

The other arrested accused have also moved bail applications, which will be heard in the coming days.

TCS has clarified that it has adopted a zero-tolerance policy towards harassment and coercion of any form for a long time, and the employees allegedly involved in sexual harassment at the Nashik office have been suspended. PTI AVI NP NSK

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Acts Income Tax