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    FTA with New Zealand to provide huge opportunities for Agra's leather exporters: Goyal
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April 26, 2026
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Duty-free market access through India-New Zealand free trade agreement set to expand export opportunities for leather MSMEs.
India's proposed free trade agreement with New Zealand is intended to expand bilateral commerce by providing duty-free access for Indian goods in the New Zealand market and by creating wider opportunities for domestic exporters, including the leather and sports goods sectors. The benefits are particularly significant for Agra's leather and footwear cluster, which is dominated by MSMEs and relies heavily on domestic supply and exports.
April 26, 2026
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Free trade agreement expands market access, services mobility, and regulatory cooperation between India and New Zealand.
India and New Zealand are set to sign a free trade agreement aimed at expanding bilateral trade, improving market access, and deepening investment and services cooperation. The pact provides duty-free or reduced-tariff access for most New Zealand exports while India excludes sensitive products such as dairy, onions, sugar, edible oils, rubber, and certain industrial goods. It also includes a temporary employment visa pathway for Indian professionals, agricultural cooperation, GI facilitation, regulatory cooperation, and faster pharma and medical devices access through acceptance of GMP and GCP inspection reports.
April 25, 2026
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GST compliance enforcement targets undocumented goods movement and strengthens monitoring through intelligence-led interception and RFID tracking.
GST enforcement action resulted in a penalty being imposed on a trader for attempting to move goods without proper documentation, in contravention of GST regulations. The trader was kept under surveillance on specific intelligence inputs and intercepted with the assistance of RFID tracking, enabling monitoring of the goods movement. The operation was carried out by the state tax enforcement team under departmental supervision as a compliance measure to ensure adherence to GST norms.
April 25, 2026
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Aadhaar biometric matching enabled identification of a divyang child and tracing of her family after she was found wandering alone.
Biometric data captured during Aadhaar enrolment was used to identify a divyang child found wandering alone and placed under care and protection. Unable to communicate due to intellectual disabilities, the children's home sought UIDAI assistance, and fingerprint biometrics were matched with existing Aadhaar records. The match enabled tracing of the child's home address and locating her family.
April 25, 2026
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Financial results disclosure highlights stronger deposits, improved asset quality, and normalized profit adjustments for one-time items.
Audited financial results for the quarter and year ended 31 March 2026 show growth in customer business, loans and advances, and deposits, with improved asset quality, stable net interest margin, and healthy capital adequacy. The release states that normalized profit after tax excludes one-time items, including a fraud incident, treasury loss, and income tax refund, and that provisions as a percentage of average loans and average total assets declined through FY26. It also records full expensing of the Chandigarh incident, utilization of contingency provisions on micro-finance, and no further material financial adjustments beyond those already recognized.
April 25, 2026
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Double standards over government bungalow interiors fuel allegations of public fund misuse and inconsistent public messaging.
Allegations were raised regarding the proposed interiors and furnishing of a government bungalow at Lodhi Estate, with claims that the design and amenities were inconsistent with the occupant's self-presentation as a common man. The criticism centred on alleged double standards, including assertions that earlier assurances against using government bungalows or vehicles were not followed and that the accommodation reflected an elite lifestyle rather than the stated public image. Questions were also raised over the alleged use of public or external resources for the bungalow, including claims of funding by a private firm and use of government funds during the Covid period.
April 25, 2026
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Cybersecurity vigilance, common KYC, and investor protection take centre stage as financial regulation adapts to AI-driven fraud.
Financial sector entities were urged to remain exceptionally vigilant on cybersecurity as artificial intelligence tools are making cyberattacks faster, more adaptive, and harder to detect. The article also stressed periodic consultation with foreign regulators, a principles-based soft-touch regulatory approach, common KYC across financial products, stronger investor education, and rapid action against unregistered financial influencers, fake investment content, deepfakes, and impersonation-driven fraud.
April 25, 2026
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Infrastructure project monitoring through PAIMANA tracks ongoing central sector works, sectoral progress, and ministry-wise implementation trends.
Central Sector infrastructure projects worth Rs.150 crore and above are monitored through the PAIMANA portal, a centralized web-based system based on the "one data, one entry" principle and linked with DPIIT's IPMP portal through APIs. As of March 2026, PAIMANA tracks 1,941 ongoing projects across 17 Central Ministries/Departments with a revised cost of Rs.41.50 lakh crore and cumulative expenditure of Rs.19.93 lakh crore. The report records substantial project progress, sector-wise distribution led by Transport & Logistics, and ministry-wise monitoring across major infrastructure portfolios.
April 24, 2026
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Forcible conversion and religious intimidation allegations arise from workplace harassment claims at a software company's BPO unit.
Police sought fresh custody of four accused in a case involving allegations of sexual harassment, forcible conversion, outraging religious feelings and criminal intimidation at a software company's Nashik BPO unit. The complainant alleged that the accused targeted his religious beliefs, forced him to wear a Muslim skull cap, perform Namaz and consume non-vegetarian food, and circulated the incident on an employee WhatsApp group. The remand material also referred to obscene remarks, work coercion, fabricated reports, physical intimidation and death threats.
April 24, 2026
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Banking licence cancellation over depositor protection concerns leads to prohibition on banking business and winding up action.
The Reserve Bank of India cancelled the banking licence issued to Paytm Payments Bank because its affairs were conducted in a manner detrimental to the interests of the bank, its depositors, and the public interest. The bank's management was said to be prejudicial to depositor protection and public interest. As a consequence, the bank is prohibited from conducting any banking business, and the RBI stated that it will apply to the High Court for winding up. The bank was also barred from onboarding new customers with effect from March 11, 2022.
April 24, 2026
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Bilateral trade agreement talks advance as India and the United States revisit tariffs, market access, and trade facilitation terms.
Trade talks between India and the United States on the first phase of a bilateral trade agreement have made positive progress, with both sides agreeing to remain engaged as discussions continue. The negotiations covered market access, non-tariff measures, technical barriers to trade, customs and trade facilitation, investment promotion, economic security alignment and digital trade, while the agreement framework is being revisited in light of changed tariff conditions in the United States. The report also notes that the US Trade Representative launched unilateral investigations affecting India under Section 301 of trade law, which India has strongly rejected and sought to have terminated for lack of cogent rationale.
April 24, 2026
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Insolvency and bankruptcy reform discussions spotlight emerging challenges, institutional strengthening, and value maximisation across the insolvency ecosystem.
A conclave on the Insolvency and Bankruptcy Code, 2016 marked the Code's tenth year by bringing together judicial members, regulators, insolvency professionals and other stakeholders to reflect on the evolution of India's insolvency regime. The discussions highlighted institutional strengthening, regulatory and judicial developments, and emerging issues such as enforcement and restitution of attached assets in CIRP, aviation insolvency, real estate insolvency, disciplinary frameworks and stakeholder synchronisation for value maximisation.
April 24, 2026
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Bilateral trade agreement talks advance as India and the United States discuss market access, digital trade, and customs facilitation.
India and the United States advanced discussions on a proposed Interim Agreement within the broader India-U.S. Bilateral Trade Agreement framework. An Indian delegation visited Washington, D.C. to refine the terms of the Interim Agreement and continue negotiations on market access, non-tariff measures, technical barriers to trade, customs and trade facilitation, investment promotion, economic security alignment, and digital trade.
April 24, 2026
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Foreign exchange reserves rise as RBI data shows gains in currency assets, gold holdings, and IMF reserve position.
India's foreign exchange reserves increased during the reporting week, with the Reserve Bank of India attributing the movement to changes in foreign currency assets, gold holdings, Special Drawing Rights, and the reserve position with the IMF. The report also notes that reserves had previously fallen after reaching an all-time high, as geopolitical uncertainty weighed on the rupee and prompted intervention in the forex market through dollar sales. Foreign currency assets rose in dollar terms, reflecting currency movements in the reserve portfolio.
April 24, 2026
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Trade agreement negotiations advance as India and the United States keep engaged on market access and digital trade issues.
India and the United States continued discussions on an interim trade agreement and the broader bilateral trade agreement framework, with both sides agreeing to remain engaged to preserve negotiation momentum. The talks covered market access, non-tariff measures, technical barriers to trade, customs and trade facilitation, investment promotion, economic security alignment and digital trade.
April 24, 2026
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Domestic consumption and predictable policy support remain central to sustaining GDP growth and banking sector adjustment.
Domestic consumption is supporting economic growth, and predictable policy support is said to be necessary to sustain GDP expansion. Banking policy issues include whether third-party products should be sold through exclusive tie-ups or an open architecture approach, with the Indian Banks Association examining the question. The remarks also emphasise customer contact, digitalisation, artificial intelligence coordination among banks, and continued disinvestment of IDBI Bank.
April 24, 2026
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Income tax provisions and labour code adjustments shaped the company's reported results, adjusted margins, and cash flow measures.
The financial statements and notes record an income tax expense position that includes reversal of tax provisions pursuant to orders received under sections 250 and 254 of the Income Tax Act, 1961 for certain assessment years. The notes also explain non-IFRS adjustments arising from the Labour Codes notified by the Government of India, which increased gratuity and leave liabilities and affected adjusted operating profit, tax, EPS, and free cash flow measures.
April 24, 2026
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Financial maturity beyond inclusion highlights gaps in household capability, resilience, and informed financial decision-making.
Financial maturity is identified as the next critical frontier beyond financial inclusion in India, with the Financial Maturity Index presenting a multidimensional assessment of household financial capability across Gujarat and Rajasthan. The study measures not only access to financial services, but also knowledge, behaviour, resilience, decision-making, and social context, showing that participation in formal finance does not necessarily produce informed financial conduct. The Index is built from primary survey data and statistical methods, and is presented as a basis for evidence-based policy and institutional alignment focused on capability, behaviour, and financial outcomes.
April 24, 2026
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Bilateral economic cooperation deepens as India and the Czech Republic expand trade, investment, innovation and industrial collaboration.
India's economic engagement with the Czech Republic was advanced through a ministerial visit focused on strengthening bilateral trade, investment and innovation linkages, with emphasis on industrial collaboration in priority sectors. The visit included bilateral discussions with senior Czech leadership, co-chairing of the 13th session of the India-Czech Republic Joint Commission for Economic Cooperation, and the signing of the session protocol. It also involved the India-Czech Business Forum and visits to industrial, technology and research institutions.
April 23, 2026
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Money-laundering investigation over forged authorisations and diverted municipal deposits exposes alleged nexus among officials and private persons.
Money-laundering searches were conducted in an alleged fraud involving municipal fixed deposits, where funds of the Panchkula Municipal Corporation were said to have been diverted through forged and fake authorisation documents. The investigation concerns unauthorised bank accounts, fake fund-migration letters, and transfer of corporation funds to financiers, private persons and real estate entities, with seized documents and allegations of a criminal nexus among municipal, bank and private persons.

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Customs & Trade

BRFEDF Flags Systemic Issues in Shipping Line Practices; Urges Urgent Policy Intervention Following DG Shipping Meeting

April 27, 2026

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New Delhi, Delhi, India (NewsVoir) The Directorate General of Shipping (DG Shipping), under the Ministry of Ports, Shipping and Waterways, Government of India, convened a high-level meeting with exporters and industry stakeholders on 17 April 2026 to address the ongoing crisis arising from disruptions in maritime services linked to geopolitical developments in the Middle East.

The meeting formally recognized that the challenges faced by exporters are systemic, widespread, and not isolated incidents, cutting across sectors, ports, and shipment categories, and require policy-level intervention. Exporters across industries—including agri commodities, food products, FMCG, and handicrafts—highlighted severe operational and financial distress resulting from unilateral actions by global shipping lines.

Containers remain stranded across ports, ICDs, and transshipment hubs due to service suspensions, rerouting, and cargo diversions. Despite the disruption in cargo movement, exporters continue to incur detention, demurrage, and multiple ancillary charges.

Ms. Priyanka Mittal, Chairperson, Basmati Rice Farmers & Exporters Development Forum, stated, “We appreciate DG Shipping’s proactive step in formally documenting exporter grievances and acknowledging the scale and seriousness of the issue. However, the situation on the ground continues to remain extremely challenging for exporters.” Exporters reported widespread imposition of charges that are arbitrary, non-transparent, and disproportionate to services rendered, including war risk surcharges (WRS), detention, demurrage, congestion levies, and transshipment-related costs. War risk surcharges alone have ranged from USD 800 to USD 6,000 per container, often imposed without prior notice or revised retrospectively. In several cases, cumulative charges have escalated to 60–70% of cargo value, rendering exports commercially unviable.

Operational disruptions have further aggravated the situation, with shipping lines unilaterally: • Diverting cargo to alternate ports such as Jebel Ali, Sohar, and Salalah • Holding containers at transshipment hubs without clarity on onward movement • Returning containers to origin ports (“back-to-town” scenarios) These decisions have been taken without adequate consultation with exporters, while the financial burden arising from such disruptions continues to be borne entirely by them.

“Exporters are effectively being asked to absorb open-ended financial liability for circumstances entirely beyond their control. This is not sustainable and requires urgent correction,” Ms. Mittal added.

A key concern highlighted during the meeting was the lack of transparency and absence of standardized norms governing shipping line charges. Exporters noted that charges are frequently imposed without adequate justification or cost breakdown, and often communicated after cargo movement has commenced, creating significant uncertainty and contractual risk.

The discussions also brought out a critical structural gap in India’s maritime ecosystem, including the absence of a clear regulatory framework governing shipping line practices, lack of standardization in the application of detention and demurrage, and absence of defined protocols for handling force majeure situations and cargo diversions.

“In this context, the continued imposition of charges without commensurate service delivery raises important questions of alignment with the principles of fairness, reasonableness, and carrier obligations embedded within India’s maritime regulatory framework, including the Merchant Shipping Act,” Ms. Mittal noted.

Exporters, particularly MSMEs, highlighted a significant imbalance in bargaining power between large global shipping lines and individual exporters, leaving them with limited recourse and exposing them to disproportionate financial risks. The ongoing accumulation of charges has created what many described as a “running meter,” severely impacting working capital and, in some cases, forcing exporters to consider abandoning cargo.

Beyond immediate financial stress, the situation is straining export commitments, disrupting long-standing buyer relationships, and undermining India’s credibility as a reliable supplier in global markets.

DG Shipping informed participants that complaints have been formally registered, assigned unique tracking mechanisms, and will be consolidated for submission to the Inter-Ministerial Group (IMG), DGFT, and other relevant authorities for policy-level consideration. Industry bodies including FIEO have also submitted consolidated representations reflecting the widespread nature of the issue.

While acknowledging the facilitative role played by DG Shipping, the industry has urged time-bound and decisive intervention, including: • Ensuring that charges are strictly linked to actual services rendered • Directing shipping lines to release and allow return of containers without linkage to disputed charges • Establishing clear regulatory guidelines for treatment of cargo during force majeure and geopolitical disruptions • Introducing standardized norms and transparency requirements for shipping line charges “Immediate relief is essential to prevent further financial damage. At the same time, this situation presents an opportunity to address long-standing structural gaps and create a more transparent, balanced, and resilient maritime trade framework for India,” Ms. Mittal said.

The industry emphasized the need for a collaborative, rules-based approach, with regulators, shipping lines, and exporters working together to ensure continuity of trade while upholding fairness and accountability.

Exporters remain hopeful that the ongoing engagement will lead to timely, structured, and enforceable solutions that safeguard India’s agri, FMCG, and MSME export sectors—critical pillars supporting farmer incomes, employment, and the broader economy.

“If left unaddressed, such practices risk setting a precedent that could undermine confidence in India’s maritime trade framework and distort fair market conduct,” Ms Mittal concluded.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR PWR

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