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    Bandhan Bank gets RBI approval for new chairman
    Rs 1.3 crore GST ITC fraud busted, 1 held in Lucknow
    Wall Street ticks higher in early trading with tenuous ceasefire tested in Iran
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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.
April 21, 2026
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Foreign exchange regulation eases as RBI partly rolls back non-deliverable forward curbs while the rupee weakens against the dollar.
The Reserve Bank's partial withdrawal of earlier curbs permits authorised dealers and banks to resume offering non-deliverable derivative contracts involving INR to resident and non-resident users, subject to restrictions on related-party transactions, while the USD 100-million cap on net open positions remains in force. The rupee also closed weaker against the US dollar amid a steady dollar, volatile crude prices, and geopolitical uncertainty.
April 21, 2026
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Delayed wages and labour unrest arise as garment workers protest salary arrears amid export pressure.
Delayed payment of salaries to garment factory workers led to a demonstration outside the plant, with employees alleging non-payment for recent months and severe hardship in meeting household expenses. The company acknowledged that salaries were due and attributed the disruption in garment exports to tariffs imposed by the United States and resulting financial pressure. Labour officials intervened and recorded an assurance that dues for the last two months would be settled, with further discussion proposed on salary irregularities and related worker issues.
April 21, 2026
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Political controversy over Kharge's "terrorist" remark highlights allegations of misuse of power and criticism of opposition language.
Political controversy arose over Congress president Mallikarjun Kharge's use of the word "terrorist" and his clarification that he meant the Prime Minister was "terrorising" political parties and people by misusing government machinery and central agencies. Union minister Annpurna Devi criticised the remark as a breach of political decorum, calling it evidence of frustration, intellectual bankruptcy and an anti-constitutional mindset.
April 21, 2026
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Income tax reform outreach promotes simplified procedures, transparency, and awareness for educational institutions and charitable trusts.
Promotional outreach on the newly introduced Income Tax Act, 2025 focused on financial literacy and awareness of provisions relevant to educational institutions and charitable trusts. The programme highlighted the Act's stated objective of simplifying procedures, reducing ambiguities, and promoting transparency through streamlined, technology-driven processes aligned with the Government's vision of Viksit Bharat 2047.
April 21, 2026
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Price stability and financial stability anchor RBI's growth framework, alongside digital inclusion, UPI expansion and CBDC innovation.
The Reserve Bank of India's role in supporting growth is explained through its core functions of price stability, financial stability and developmental support. The address highlights the Flexible Inflation Targeting framework, the need to manage uncertainty through robustness, gradualism, anchored inflation expectations, transparency and clear communication, and a data-dependent policy stance that looks through first-round supply shocks while preventing second-round inflationary effects. It also describes fiscal-monetary coordination, prudential regulation and developmental initiatives such as financial inclusion, UPI, the Unified Lending Interface and Central Bank Digital Currency.
April 21, 2026
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Customs cooperation and trade facilitation guide India-Bhutan discussions on border management, data exchange, and transit cargo movement.
Customs cooperation and trade facilitation between India and Bhutan were reviewed through the Joint Group of Customs framework, with attention to border management and cross-border movement of goods. The discussions covered coordinated border management, pre-arrival exchange of customs data, anti-smuggling enforcement, digitisation of customs processes, and transit cargo facilitation through the Electronic Cargo Tracking System, together with border infrastructure, harmonisation of procedures, and maritime enforcement briefings during the port visit.
April 21, 2026
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Delayed wages at a garment export unit spark worker protest over unpaid salaries and financial hardship.
Delayed salary payments at a garment export unit prompted a protest by more than a thousand workers, mostly women, outside the factory gate in Ranchi. The workers alleged non-payment of wages for prior months and complained of hardship caused by unpaid salary, while the company's HR management acknowledged that wages for the last two months were pending and said steps were being taken to clear the dues.
April 21, 2026
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Voluntary liquidation regulation reforms tighten claims handling, add termination safeguards, and shift procedural forms to circular-based notification.
Proposed amendments to the Voluntary Liquidation Process Regulations, 2017 revise claims handling, introduce a new termination mechanism, and move operational forms to Board circulars. The liquidator must record reasons for rejecting claims and communicate admission or rejection within seven days, while recourse against the decision is reframed as an approach to the Adjudicating Authority. A new Regulation 42 sets out termination safeguards, reporting requirements, seven-day intimation obligations, and the legal effect of termination on the liquidator's appointment and powers.

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5th India–Tanzania Joint Trade Committee Meeting Held in Dar es Salaam to Strengthen Bilateral Economic Cooperation

May 1, 2026

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India–Tanzania Trade Shows Consistent Growth, Crosses USD 9 Billion Mark

The 5th Session of the India–Tanzania Joint Trade Committee (JTC) was held on 29–30 April 2026 in Dar es Salaam, Tanzania. The meeting was co-chaired by Commerce Secretary, Ministry of Commerce and Industry, Government of India, Shri Rajesh Agrawal, and Permanent Secretary, Ministry of Foreign Affairs and East African Cooperation of the United Republic of Tanzania, Amb. Dr. Samwel William Shelukindo. The session reviewed the progress achieved since the 4th Session held in New Delhi in August 2017 and reaffirmed a shared commitment to further strengthening bilateral trade, investment, and economic cooperation.

The discussions were held in a friendly and positive atmosphere, reflecting the strong and close relations between India and Tanzania. The deliberations highlighted the importance of the JTC as a key institutional mechanism for dialogue on trade and investment issues and for promoting mutually beneficial economic engagement. A comprehensive review of bilateral merchandise trade reflected steady and consistent growth since the 4th JTC held in August 2017 in New Delhi. Bilateral trade reached USD 9.02 billion in 2025–26, rising from USD 8.64 billion in 2024–25.

The discussions covered the promotion of trade settlement in local currencies, facilitation of long-term business visas for Indian businesspersons, strengthening regulatory collaboration in pharmaceuticals and capacity building in areas of health, AYUSH, education and shipbuilding.

Collaboration in mining sector including geological exploration and mining, value addition in the gemstone sector, regulatory developments related to gemstone exports, and opportunities for capacity building and skill development were discussed.

Strengthening cooperation in education and skills development remained a key focus area. The role of IIT Madras Zanzibar as a growing regional hub for higher education in science and technology was highlighted. Enhanced collaboration in MSME sector and to explore new institutional partnerships were emphasised.Areas such as vocational training, industrial research, innovation, and sustainable technologies were identified as promising avenues for cooperation.

Developments in digital cooperation in respect of existing MoU were reviewed, with a focus on digital public infrastructure, including India Stack. Opportunities for collaboration in real-time payments, Digilocker, and digital services were explored. Engagement in e-commerce, including sharing best practices and addressing regulatory challenges, also formed part of the deliberations.

India offered its expertise in shipbuilding and highlighted shipyard development and port infrastructure alongside potential partnerships with Tanzanian institutions.

India’s development cooperation through Lines of Credit exceeding USD 1.1 billion for water infrastructure projects in Tanzania was highlighted. These projects, currently under implementation, are expected to benefit over 6 million people across 24 towns. Continued collaboration in expanding water supply networks and infrastructure development remains a priority area.

The importance of fisheries and marine resources in supporting economic growth, livelihoods, and food security was underscored. Tanzania’s proposal for enhanced cooperation in aquaculture, fish processing, capacity building, and sustainable marine resource management received a positive response.

Emphasis was placed on fostering deeper involvement in healthcare and medicine, as well as enhancing capacity building in fields like oncology, and establishing exchange programs for medical specialists, nurses, and healthcare professionals from India. Collaboration aimed at expanding digital health and telemedicine to guarantee the provision of healthcare services to the most remote areas in Tanzania was promoted. Joint research concerning diseases common in Tanzania, including malaria, tuberculosis, and HIV/AIDS, was also deliberated.

Cooperation in agriculture was emphasised, covering emphasis on technology transfer, agro-processing, and research collaboration. Opportunities for Indian investment in agro-processing industries and value addition for key crops were highlighted. Collaboration in contract farming, micro-irrigation, and trade in pulses, including pigeon peas, was also explored. Engagement in the livestock sector, including dairy development, capacity building, and value chain strengthening, were also agreed as an important area for greater cooperation.

India extended support in the supply of locomotives and rolling stock, modernization of railway infrastructure, and capacity building through specialized institutions. Opportunities for collaboration in feasibility studies and maintenance systems were also explored.

Cooperation in renewable energy, natural gas, biofuels, and power infrastructure was discussed. The need for a comprehensive MoU covering all energy sub-sectors was emphasised. India offered support in consultancy, capacity building, project management, and development of energy infrastructure, including transmission systems and hybrid energy solutions.

A wide range of additional areas of cooperation were discussed, including participation in trade fairs and exhibitions, exchange of agricultural scientists, housing and urban development, and mutual recognition agreements in professional services. Market access issues, such as tariffs, phytosanitary measures, and regulatory procedures, were addressed, with continued engagement envisaged to resolve these concerns. Cooperation in standardization, competition policy, trade promotion, immigration, and fire and rescue services was also explored.

A delegation of Indian businesspersons, led by the Confederation of Indian Industries (CII), had also accompanied the Commerce Secretary. On the sidelines of the 5th session of India-Tanzania JTC, an India–Tanzania Joint Business Meet was also organized. Commerce Secretary of India, Shri Rajesh Agrawal, delivered the keynote speech, expressing high appreciation for the accelerating trade partnership between the two nations and the growing synergy between their respective markets. with participation from leading Indian and Tanzanian business representatives. The Tanzanian perspective was represented by Amb. John Ulanga, Director of International Trade and Economic Diplomacy, along with several prominent local business leaders. Their remarks focused on the strategic importance of Indian investment and the shared goal of fostering a more integrated and prosperous business environment across the East African region.

The Joint Trade Committee meeting concluded with a reaffirmation of the shared commitment to deepening bilateral trade and economic relations between India and Tanzania. The deliberations reflected a forward-looking approach, emphasizing strengthened institutional mechanisms, faster implementation of ongoing initiatives, and expanded cooperation across key sectors.

The next (6th) Session of the India–Tanzania Joint Trade Committee was agreed to be held in New Delhi, India, on mutually convenient dates.

 

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