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    May 5, 2026
    Learning, Judgement and Public Purpose – Lessons from Banking - 12th G. Ramachandran Memorial Lecture, delivered by Shri Swaminathan J, Deputy Gover...
    May 4, 2026
    Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26, misses revised budget target
    May 4, 2026
    Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26 but falls short of revised estimates
    May 4, 2026
    India looks to boost LNG tank capacity as Qatar supplies stall
    May 4, 2026
    RBI cautions against misleading campaigns promising loan waivers
    May 4, 2026
    India shifts to context-driven payments; credit now powers everyday spending: reports by Phi Commerce
    May 4, 2026
    Reliefs sought in plea concerning Aadhaar require legislative intervention, says SC
    May 4, 2026
    India must map, monitor economic vulnerabilities in energy, food, other areas: EAC-PM chairman
    May 4, 2026
    HSBC Mutual Fund launches 'RedHex SIF,' its specialized investment platform in India
    May 4, 2026
    European leaders see Trump's troop drawdown from Germany as new proof they must go it alone
    May 4, 2026
    NCLAT dismisses Vedanta's plea against Adani's Jaiprakash bid
    May 4, 2026
    HIGHLIGHTS
    May 4, 2026
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    May 4, 2026
    FAQs related to Section 80G – NUDGE CAMPAIGN
    May 4, 2026
    NCLAT dismisses Vedanta's appeal against selection of Adani group's bid for Jaiprakash Associates
    May 4, 2026
    Indian Institute of Foreign Trade Celebrates 63rd Foundation Day
    May 4, 2026
    DFS Convenes Colloquium of DRAT Chairpersons and DRT Presiding Officers to Strengthen Debt Recovery Framework
    May 4, 2026
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    Chhattisgarh liquor 'scam': ED seizes cash, bullion in fresh raids
    May 3, 2026
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May 5, 2026
Learning, Judgement and Public Purpose – Lessons from Banking - 12th G. Ramachandran Memorial Lecture, delivered by Shri Swaminathan J, Deputy Governor, Reserve Bank of India, on April 30, 2026, at the Madras School of Economics, Chennai
Show AI Summary
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
Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26, misses revised budget target
Show AI Summary
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
Net direct tax collection rises 5 pc to Rs 23.40 lakh cr in FY26 but falls short of revised estimates
Show AI Summary
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
India looks to boost LNG tank capacity as Qatar supplies stall
Show AI Summary
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
RBI cautions against misleading campaigns promising loan waivers
Show AI Summary
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
India shifts to context-driven payments; credit now powers everyday spending: reports by Phi Commerce
Show AI Summary
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
Reliefs sought in plea concerning Aadhaar require legislative intervention, says SC
Show AI Summary
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
India must map, monitor economic vulnerabilities in energy, food, other areas: EAC-PM chairman
Show AI Summary
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
HSBC Mutual Fund launches 'RedHex SIF,' its specialized investment platform in India
Show AI Summary
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
European leaders see Trump's troop drawdown from Germany as new proof they must go it alone
Show AI Summary
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
NCLAT dismisses Vedanta's plea against Adani's Jaiprakash bid
Show AI Summary
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
HIGHLIGHTS
Show AI Summary
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
Govt has eased FDI norms for foreign cos having small Chinese/Hong Kong stake: An explainer
Show AI Summary
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
FAQs related to Section 80G – NUDGE CAMPAIGN
Show AI Summary
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
NCLAT dismisses Vedanta's appeal against selection of Adani group's bid for Jaiprakash Associates
Show AI Summary
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
Indian Institute of Foreign Trade Celebrates 63rd Foundation Day
Show AI Summary
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
DFS Convenes Colloquium of DRAT Chairpersons and DRT Presiding Officers to Strengthen Debt Recovery Framework
Show AI Summary
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
CBIC Member Shri Surjit Bhujabal inaugurates GST Bhawan at Itanagar
Show AI Summary
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
Chhattisgarh liquor 'scam': ED seizes cash, bullion in fresh raids
Show AI Summary
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
HIGHLIGHTS
Show AI Summary
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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Cabinet approves Fair and Remunerative Price of Rs.365/qtl for Sugarcane Farmers for season 2026-27

May 6, 2026

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Decision will benefit 5 crore sugarcane farmers as well as 5 lakh workers employed in the sugar mills and related ancillary activities

Keeping in view interest of sugarcane farmers (Ganna Kisan), the Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2026-27 (October - September) at Rs.365/qtl for a basic recovery rate of 10.25%, providing a premium of Rs.3.56/qtl for each 0.1% increase in recovery over and above 10.25%, & reduction in FRP by Rs.3.56/qtl for each 0.1% decrease in recovery.

The Government with a view to protect interest of sugarcane farmers has also decided that there shall not be any deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs.338.3/qtl for sugarcane in ensuing sugar season 2026-27.

The cost of production (A2 +FL) of sugarcane for the Sugar Season 2026-27 is Rs.182/qtl. This FRP of Rs.365/qtl at a recovery rate of 10.25% is higher by 100.5% over production cost. The FRP for Sugar Season 2026-27 is 2.81% higher than current Sugar Season 2025-26.

The FRP approved shall be applicable for purchase of sugarcane from the farmers in the Sugar Season 2026-27 (starting w.e.f. 1st October, 2026) by sugar mills. The sugar sector is an important agro-based sector that impacts the livelihood of about 5 crore sugarcane farmers and their dependents and around 5 lakh workers directly employed in sugar mills, apart from those employed in various ancillary activities including farm labour and transportation.

Background:

The FRP has been determined on the basis of recommendations of Commission for Agricultural Costs and Prices (CACP) and after consultation with State Governments and other stake-holders.

In the previous Sugar Season 2024-25, out of cane dues payable of Rs.1,02,687 crore about Rs.1,02,209 crore cane dues have been paid to farmers, as on 20.04.2026; thus, about 99.5% cane dues have been cleared. In the current Sugar Season 2025-26, out of cane dues payable of Rs.1,12,740 crore about Rs.99,961 crore cane dues have been paid to farmers, as on 20.04.2026; thus, about 88.6% cane dues have been cleared.

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Acts Income Tax
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