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    PixerLens and Tata Consultancy Services Partner to Deliver AI-Powered Application Intelligence on TCS SovereignSecure™ Cloud
    Introduction of IMS Offline Tool
    Minutes of the Monetary Policy Committee Meeting, April 6 to 8, 2026 [Under Section 45ZL of the Reserve Bank of India Act, 1934]
    TCS case: No interim relief to arrested employee in related matter; court cites 'criminal antecedents'
    Karnataka: Commercial Taxes Dept busts Rs 410 crore GST fraud network, arrests one
    West Asia crisis, inflation weighed on RBI panel's decision on interest rate: MPC minutes
    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
    MPC members voted for status quo on rates amid West Asia crisis: RBI minutes
    West Asia crisis: Govt considering customs duty cut on critical induction cooktop components
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    Atal Pension Yojana (APY) Crosses Historic Milestone: Total Gross Enrolments Surpass 9 Crore.
    MCA expands eligibility criteria of the Prime Minister Internship Scheme (PMIS) to include final-year graduate and post graduate students.
    BlueFocus Reports 2025 Results as AI-Driven Revenue Reaches USD 546.05 Million and Token Usage Surpasses One Trillion
    From Salary to Savings: AU Small Finance Bank on Structuring Your Savings Account for the New Financial Year
    India’s Seafood Exports Hit All-Time High of ₹72,000 Crore.
    TCS case: Prime accused seeks bail, says complaint filed due to frustration or parents' pressure
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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.
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.

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Corp. Laws / SEBI / IBC

Reliefs sought in plea concerning Aadhaar require legislative intervention, says SC

May 4, 2026

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New Delhi, May 4 (PTI) The Supreme Court on Monday said the issuance of new Aadhaar cards only to citizens up to the age of six years require legislative intervention and appropriate amendments in the existing legal framework.

A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi was hearing a public interest litigation (PIL) seeking direction to the Unique Identification Authority of India (UIDAI) to issue new Aadhaar cards only to citizens up to the age of six years.

The bench said the appropriate recourse for the petitioner would be to bring all these issues to the notice of the State and other stakeholders to enable them to take cognisance of them.

It disposed of the petition with a direction that it be treated as a representation on behalf of the petitioner.

The plea filed by lawyer Ashwini Upadhyay had also sought a direction to frame stringent guidelines for issuance of Aadhaar to adolescents and adults to stop infiltrators from masquerading as Indian citizens.

It had sought a direction to the authorities to install display boards at common service centres stating that the 12-digit unique identification number was only a "proof of identity" and not a proof of citizenship, address or date of birth.

"As may be seen from the nature of reliefs, most of these require legislative intervention and appropriate amendments in the existing legal framework," the bench said.

Upadhyay told the bench that the UIDAI has issued 144 crore Aadhaar and almost 99 per cent Indians have been enrolled.

"Point out these issues to the Parliament and the government. They will take care of them," the bench observed.

The petitioner said it was not an adversarial litigation and the plea was for preventing infiltrators from getting Aadhaar.

He referred to the issue of fake documents and said anyone with a rent agreement can get an Aadhaar.

"You raise your grievances to the Union government. They will take appropriate steps," the bench said.

The bench, without expressing any opinion on the merits, disposed of the petition with a direction that it be treated as a representation on behalf of the petitioner.

Besides all the states and Union Territories, the plea had made the UIDAI -- which is the authority that issues Aadhaar -- and the Union ministries of home, law and justice, and electronics and information technology as parties.

The plea, filed through advocate Ashwani Dubey, said Aadhaar, originally intended as a proof of identity, has increasingly become a "foundational document" enabling individuals to obtain other identification documents, such as ration cards, domicile certificates and voter identity cards.

"The UIDAI has issued 144 crore Aadhaar and 99 per cent Indians have been enrolled. Therefore, the petitioner is filing this writ petition as a PIL under Article 32, seeking a direction to UIDAI to issue new Aadhaar to children only and frame new stringent guidelines for adolescents and adults, so as to stop infiltrators from getting it and masquerading as Indian citizens," the plea said.

It said the need to file the plea arose when the petitioner came to know the manner in which infiltrators are able to procure Aadhaar through a verification process that is weak and can be easily manipulated.

"Foreigners apply for Aadhaar under the 'foreign' category. But infiltrators apply for Aadhaar under the 'Indian citizen' category and get it easily made. Thereafter, they obtain a ration card, birth and domicile certificate, driving licence, et cetera, essentially becoming indistinguishable from Indian citizens...," it said.

Besides seeking other directions, the plea raised legal questions, including whether the Aadhaar Act 2016 has become "temporally unreasonable" for failing to keep up with the legislative intent of distinguishing foreigners from Indian citizens.

It said the alleged misuse of Aadhaar undermines targeted welfare delivery and leads to diversion of public resources. PTI ABA SJK ABA KVK KVK

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Acts Income Tax