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    Learning, Judgement and Public Purpose – Lessons from Banking - 12th G. Ramachandran Memorial Lecture, delivered by Shri Swaminathan J, Deputy Gover...
    Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26, misses revised budget target
    Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26 but falls short of revised estimates
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    European leaders see Trump's troop drawdown from Germany as new proof they must go it alone
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    NCLAT dismisses Vedanta's appeal against selection of Adani group's bid for Jaiprakash Associates
    Indian Institute of Foreign Trade Celebrates 63rd Foundation Day
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May 5, 2026
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Banking judgment and public purpose shape credit, supervision and financial stability beyond numbers and models.
Banking is presented as a field that must be understood through knowledge, judgment and public purpose, not through numbers, models or regulations alone. Economics supplies concepts such as incentives, information asymmetry, moral hazard, adverse selection and systemic risk, while the banking counter shows how credit appraisal depends on reading signals in cash flows, management quality, borrowing patterns and growth. Supervision is contrasted with the banker's viewpoint and is directed to safety, soundness, governance and the wider public interest.
May 4, 2026
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Direct tax collections rise despite tax cuts, with stronger corporate tax growth and stable non-corporate receipts.
Net direct tax collections increased in FY26 but fell short of the revised fiscal target after income tax relief measures were introduced in the budget. The changes included a higher rebate, revised tax slabs and rates, and a higher standard deduction, with collections showing stronger corporate tax growth, stable non-corporate tax receipts, and slightly lower refund issuance.
May 4, 2026
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Direct tax collections rise with stronger gross receipts and lower refunds, though the revised target remains unmet.
Net direct tax collections for 2025-26 rose 5.12 per cent to over Rs 23.40 lakh crore, but remained below the revised estimate of Rs 24.21 lakh crore. CBDT data showed net corporate tax collections at Rs 10.99 lakh crore and personal income tax, including Securities Transaction Tax, at about Rs 12.41 lakh crore. Gross direct tax collection stood at about Rs 28.12 lakh crore, while refund issuance declined 1.09 per cent to Rs 4.71 lakh crore.
May 4, 2026
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LNG storage capacity expansion gains urgency as supply disruptions and geopolitical risk expose India's energy security vulnerabilities.
India is seeking to increase LNG storage capacity in response to supply disruptions and heightened geopolitical risk affecting imports from West Asia. Petronet LNG plans to add new storage tanks at multiple terminals to strengthen buffer capacity and maintain normal supplies if import flows are interrupted. The expansion is presented as part of broader efforts to support energy security and manage future crisis conditions through additional strategic reserves.
May 4, 2026
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Loan waiver fraud warnings highlight false waiver claims, deceptive certificates, fee collection, and the need to avoid such entities.
Unauthorised and misleading campaigns promising loan waivers are cautioned against, including false claims of waiver of dues to banks or NBFCs, issuance of debt waiver certificates, and collection of fees under service or legal charges. The public is advised not to associate with such persons or entities, to approach lending institutions directly for loan information, and to report such campaigns to law enforcement agencies.
May 4, 2026
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Context-driven digital payments reshape spending as UPI, credit cards and EMIs serve different consumer needs.
India's digital payments are increasingly context-driven, with consumers choosing instruments according to ticket size, urgency, intent and time of day rather than relying on a single dominant mode. UPI continues to support everyday and high-value payments, while structured credit and EMIs are expanding into routine and recurring expenses. Payment behaviour also varies by timing, and merchants are increasingly offering multiple payment options to align with consumer intent and improve conversion.
May 4, 2026
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Aadhaar verification and identity proof concerns require legislative intervention for issuance safeguards and misuse prevention.
Legislative intervention and amendments in the existing legal framework are required for reliefs seeking restrictions on Aadhaar issuance and related safeguards. The petition also sought directions treating Aadhaar only as proof of identity, while alleging misuse through weak verification, diversion of public resources, and improper access to other identity records.
May 4, 2026
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Economic vulnerability mapping gains focus as India weighs supply disruption risks, energy dependence and inflation pressure from global shocks.
India must strengthen economic vulnerability mapping and risk management across energy, food, fertilisers, metals and critical minerals to address supply disruptions and price volatility arising from geopolitical shocks. The commentary emphasises expanding physical buffers, including strategic petroleum reserves and stockpiles of essential commodities, while reducing excessive import dependence through diversified supply sources, trade routes and more effective use of free trade agreements. It also notes that fiscal, monetary, trade and supply-side interventions, supported by an emergency response mechanism, are being used to cushion external shocks.
May 4, 2026
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Specialized Investment Fund launch combines portfolio flexibility, transparency, and risk discipline for experienced investors.
HSBC Mutual Fund has launched RedHex SIF in India as a SEBI-approved Specialized Investment Fund brand for investors seeking greater portfolio flexibility within a regulated mutual fund framework. The platform offers focused, outcome-oriented strategies with transparency, governance, oversight, and risk discipline, and is aimed at experienced, institutional, and high-net-worth investors subject to a minimum investment threshold and higher investment risks.
May 4, 2026
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NATO burden-sharing and trade friction shape Europe's response as troop withdrawal and tariff pressure test transatlantic ties.
European leaders said the planned withdrawal of United States troops from Germany showed that Europe must take greater responsibility for its own security within NATO. They called for the move to be handled within the alliance framework and for the European pillar in NATO to be strengthened. The article also noted fresh trade friction, including plans for higher United States tariffs on cars and trucks from the European Union, alongside the bloc's emphasis on free trade agreements and stable supply chains.
May 4, 2026
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Commercial wisdom in insolvency bid evaluation upheld as creditors may assess feasibility beyond headline value.
Challenge to approval of a corporate insolvency resolution plan for Jaiprakash Associates Ltd. turned on the Committee of Creditors' evaluation of competing bids, including preference for Adani Enterprises' plan over Vedanta Ltd.'s revised offer. The controversy concerned transparency, evaluation metrics and whether post-deadline bid revisions could be considered in the insolvency process. The tribunal found no material irregularity and treated the CoC's decision as commercial wisdom based on overall consideration of the competing plans.
May 4, 2026
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Supreme Court and NCLAT spotlight procedural discipline, transgender law challenge, and insolvency bid selection dispute.
The Supreme Court rebuked its Registry for failing to issue notice to the Enforcement Directorate and declined urgent hearing on a plea for continuation of central armed police forces in West Bengal, saying such decisions lie with the political executive. It also agreed to hear challenges to the Transgender Persons (Protection of Rights) Amendment Act, 2026, while the NCLAT dismissed Vedanta Ltd.'s petitions against selection of Adani Enterprises' bid for Jaiprakash Associates Ltd. in insolvency proceedings.
May 4, 2026
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FDI norms eased for foreign companies with limited Chinese or Hong Kong stake, subject to sectoral conditions and reporting.
India eased FDI norms to allow foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent, or a non-controlling stake, to invest under the automatic route in sectors where foreign investment is permitted, subject to applicable sectoral conditions. The revised framework retains reporting obligations and uses the beneficial ownership concept drawn from the Prevention of Money Laundering Rules, 2005. It also preserves expedited clearance for specified manufacturing activities while requiring majority Indian ownership and control.
May 4, 2026
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Section 80G donation deduction rules define eligible donees, deduction limits, cash restrictions, and verification requirements.
Section 80G allows deduction for donations to specified funds, charitable institutions, and approved bodies, subject to category-wise limits of 100% or 50% deduction, with or without a 10% adjusted gross total income cap. Eligibility depends on the donee being within the statutory list and, where required, meeting prescribed approval and compliance conditions. Cash donations above the prescribed amount are not deductible, the same donation cannot be claimed again under any other provision, and the donor must verify the donee's registration and reported information before claiming the benefit.
May 4, 2026
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Commercial wisdom in insolvency resolution plan selection shapes creditor choice over competing bids for Jaiprakash Associates.
Challenge to an insolvency resolution process for Jaiprakash Associates Ltd. centred on the Committee of Creditors' selection of Adani Enterprises' resolution plan over Vedanta's competing bid. The tribunal treated the CoC's decision as an exercise of commercial wisdom based on overall assessment of the resolution plans and found no material irregularity in the Resolution Professional's conduct of the process. The dispute arose in the CIRP context after approval of Adani Enterprises' resolution plan by the adjudicating authority.
May 4, 2026
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International trade education and policy research highlighted as IIFT marks its Foundation Day with new institutional initiatives.
The Indian Institute of Foreign Trade marked its 63rd Foundation Day with official appreciation of its role as an autonomous institution in advancing India's international trade, management education, policy research, and capacity building. The commemorations highlighted its expanding academic and institutional presence across New Delhi, Kolkata, Kakinada, and GIFT City, along with campus growth, alumni engagement, and new academic initiatives. The event also emphasized multilingual course offerings, a new website for improved accessibility and digital engagement, major conferences, research-led innovation, student recognition, and acknowledgment of retired employees and long-serving staff.
May 4, 2026
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Debt recovery tribunal reforms advance through e-filing, hybrid hearings, capacity building, and faster disposal measures.
Department of Financial Services convened a colloquium of DRAT Chairpersons and DRT Presiding Officers to strengthen the debt recovery framework through policy dialogue, reform, and performance enhancement. The discussion focused on reducing pendency, accelerating disposal of cases, capacity building, targeted training, and sharing of best practices across tribunals. Key measures included mandatory e-filing, hybrid hearings, e-DRT 2.0, stronger bank oversight, prioritisation of high-value cases, use of Lok Adalats and mediation, and the BAANKNET e-auction platform.
May 4, 2026
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GST taxpayer facilitation centre strengthens voluntary compliance, transparency, and cooperative tax administration in Itanagar.
GST administration in Itanagar was strengthened with the inauguration of a new GST Bhawan as a dedicated taxpayer facilitation centre for the Itanagar Commissionerate under CBIC. The facility is intended to improve service delivery, accessibility, taxpayer engagement, and ease of compliance, and to function as a centre for facilitation, dialogue, and mutual confidence between taxpayers and the administration. Officers were described as facilitators and partners in a cooperative compliance framework, with a focus on guiding taxpayers, supporting compliance, and simplifying administrative interactions.
May 3, 2026
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Money laundering probe linked to alleged liquor scam leads to fresh seizures of cash, gold and incriminating records.
Fresh searches in a money laundering probe linked to the alleged Chhattisgarh liquor scam led to seizure of cash, gold jewellery and bullion, along with incriminating documents and digital devices. The ED said the searched entities are suspected of receiving, handling, layering or concealing proceeds of crime, while the wider investigation concerns an alleged criminal syndicate that hijacked the excise department and caused a massive loss to the state exchequer.
May 3, 2026
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Aadhaar issuance guidelines face scrutiny over tighter age-based verification and concerns about identity misuse by infiltrators.
A public interest petition seeks directions to the Unique Identification Authority of India to restrict issuance of new Aadhaar cards to citizens up to six years of age and to frame stringent guidelines for issuance of Aadhaar to adolescents and adults. The plea raises concerns that looser issuance practices may enable infiltrators to obtain Aadhaar and masquerade as Indian citizens.

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Andhra nets Rs 5,542.7 cr tax revenue in April, 'highest-ever' monthly collections

May 1, 2026

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Amaravati, May 1 (PTI) Andhra Pradesh recorded total tax collections of Rs 5,542.7 crore in April 2026, marking the highest-ever monthly revenue since the introduction of Goods and Services Tax.

Chief Commissioner of State Tax A Babu noted that the strong performance came despite structural challenges arising from GST 2.0 rate rationalisation, which had an estimated annual revenue impact of Rs 8,000 crore.

“April 2026 recorded total collections of Rs 5,542.70 crore, the highest-ever monthly revenue, reflecting strong administrative efficiency and compliance,” said Babu in an official press release on Friday.

According to the Commercial Taxes Department, the state registered a 12.08 percent growth in overall tax collections compared to April 2025, with net GST collections rising to around Rs 3,796 crore, reflecting a 6.8 percent increase year-on-year.

Gross GST collections (excluding cess) stood at about Rs 4,323 crore, while Integrated GST (IGST) settlement amounted to over Rs 2,194 crore, recording a 12.97 percent increase compared to April 2025, indicating improved inter-state tax settlement efficiency.

Petroleum Value Added Tax (VAT) collections saw a sharp rise of 26.7 percent to Rs 1,613 crore, while professional tax collections stood at Rs 42.90 crore, registering a 21.1 percent growth driven by Aadhaar-based expansion of the taxpayer base.

For the April month trend since GST implementation, the state has maintained consistent year-on-year growth, demonstrating sustained compliance improvements and robust administrative capacity, the release said.

Total collections across all sectors rose significantly, supported by gains in petroleum VAT, professional tax and key service sectors such as real estate and construction, even as GST revenues were partially impacted by rate cuts on select goods.

Key measures supporting revenue growth included AI-driven data analytics, automated scrutiny systems, and targeted compliance drives to detect tax evasion, identify mismatches and prevent ineligible input tax credit claims.

The department also intensified enforcement through UPI-based transaction analytics, Distribution Companies (DISCOM)-linked GST registration verification and integration of multiple databases to widen the tax base and improve compliance, he added. PTI MS ROH

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Acts Income Tax