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    May 18, 2026
    Keeping close watch on supply shock, impact on inflation: RBI Guv Malhotra
    May 18, 2026
    Adani resolves OFAC sanctions case with USD 275 mn settlement after 'proactive' disclosure, cooperation
    May 18, 2026
    Rupee settles at record low of 96.20 against US dollar
    May 18, 2026
    Jute industry seeks new Bengal govt's intervention to tide over raw material crisis
    May 18, 2026
    BJD MP Sasmit Patra urges strengthening of NCLT, NCLAT infra capacity
    May 18, 2026
    Haryana cabinet approves Industrial policy 2026, Rs 5 lakh crore investment, 10 lakh jobs targeted
    May 18, 2026
    ED attaches Rs 700 cr assets linked to late gangster Iqbal Mirchi, kin
    May 18, 2026
    India to keep buying Russian oil regardless of US sanctions waivers, says official
    May 18, 2026
    Punjab minister Sanjeev Arora sent to 14-day judicial custody
    May 18, 2026
    Power regulator DERC to undertake 'intensive' audit of Delhi discoms by CAG-empanelled CA firm
    May 18, 2026
    Gold flat at Rs 1.62 lakh/10g; silver edges higher on import curbs
    May 18, 2026
    India Targets $1 Trillion Exports This Year, $2 Trillion in Five Years: Union Commerce and Industry Minister Shri Piyush Goyal
    May 18, 2026
    HIGHLIGHTS
    May 18, 2026
    Rupee settles at record low of 96.35 against US dollar
    May 18, 2026
    Indian markets capable of absorbing different types of shocks: SEBI chief on West Asia crisis
    May 18, 2026
    Robert Vadra withdraws in Delhi HC plea against trial court summons in Haryana land deal case
    May 18, 2026
    Rupee falls to record low of 96.25 against US dollar
    May 18, 2026
    Commerce Secretary Shri Rajesh Agrawal Highlights Trade and Economic Cooperation at BRICS Meeting in Gandhinagar
    May 18, 2026
    GeM Observes Incorporation Day 2026; Continues to Support Digital Public Procurement System in India
    May 18, 2026
    China committed to US on not providing material support to Iran: US trade representative
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May 18, 2026
Keeping close watch on supply shock, impact on inflation: RBI Guv Malhotra
Show AI Summary
Supply shock monitoring shapes RBI's data-dependent inflation stance as temporary price spikes may be looked through.
The Reserve Bank of India is monitoring whether supply shocks become embedded in the general price level and require monetary policy action. Temporary first-round effects may be looked through, but sustained increases that raise wages, production and transportation costs and generate broader inflation may call for tighter policy. A wide inflation tolerance band provides space to absorb short-run volatility while keeping the medium-term focus on price stability and data-dependent policy.
May 18, 2026
Adani resolves OFAC sanctions case with USD 275 mn settlement after 'proactive' disclosure, cooperation
Show AI Summary
Sanctions compliance and voluntary self-reporting led to a reduced OFAC settlement for Iranian-origin LPG import allegations.
Adani Enterprises settled an OFAC sanctions matter involving apparent violations linked to imports of Iranian-origin LPG through Mundra Port by agreeing to pay USD 275 million. The company said the resolution did not constitute a finding of guilt or wrongdoing and resolved all related liabilities. OFAC reduced the amount after voluntary self-reporting, proactive disclosure, cooperation, and corrective compliance steps, including strengthened sanctions controls and enhanced internal measures across the corporate group.
May 18, 2026
Rupee settles at record low of 96.20 against US dollar
Show AI Summary
Rupee pressure and forex controls intensify as rising oil prices, dollar strength, and import curbs weigh on currency stability.
The rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign investor outflows. Market participants noted that the exchange rate remained under pressure from global sentiment and elevated oil prices. The commentary also noted that RBI intervention and restrictions on imports of gold and silver could support the rupee at lower levels, while higher import duty and licensing controls on precious metals were intended to curb non-essential imports and reduce forex outflows.
May 18, 2026
Jute industry seeks new Bengal govt's intervention to tide over raw material crisis
Show AI Summary
Raw jute shortage and trade restrictions push jute mills toward closure, prompting demands for stock release and import relief.
Raw jute shortages, steep price escalation, and trade restrictions have disrupted jute mill operations in West Bengal, leaving mills without a transparent reference price or workable procurement conditions. Millers seek release of residual stocks, easing or withdrawal of stock and trade restrictions, permission for emergency imports, and restoration of a viable price corridor for raw jute. They also urge abolition of agricultural marketing fees and improved payment discipline to suppliers to stabilise supplies and protect employment across the jute belt.
May 18, 2026
BJD MP Sasmit Patra urges strengthening of NCLT, NCLAT infra capacity
Show AI Summary
Tribunal infrastructure and capacity need urgent strengthening to support the NCLT and NCLAT insolvency framework.
Institutional strengthening of the NCLT and NCLAT is urged because of their central role in India's company law and insolvency framework. The concerns include permanent and modern infrastructure, uninterrupted courtroom operations, reliable power backup, additional bench strength, permanent staffing, and better support for judicial and technical members. A review of the compulsory rotation policy is also requested to improve continuity and specialisation within the tribunal system.
May 18, 2026
Haryana cabinet approves Industrial policy 2026, Rs 5 lakh crore investment, 10 lakh jobs targeted
Show AI Summary
Industrial policy incentives drive investment, jobs, exports and sector-specific manufacturing growth across Haryana's new policy framework.
Haryana approved the Make in Haryana Industrial Policy 2026 as the State's principal industrial policy, replacing the 2020 framework and reclassifying industrial areas into core, intermediate, sub-prime and prime/focus categories. The policy is designed to attract large-scale investment, expand employment, increase exports and extend financial incentives across all blocks, including capital subsidy, R&D support, recruitment-linked incentives, export promotion measures and green-industry facilitation. It also provides for net SGST reimbursement, sector-linked assistance for large, mega and ultra mega units, and interest on delayed investor payments after 1 April 2026.
May 18, 2026
ED attaches Rs 700 cr assets linked to late gangster Iqbal Mirchi, kin
Show AI Summary
Provisional attachment of properties under fugitive economic offender and money-laundering laws over alleged proceeds of crime linked to Mirchi family assets.
Provisional attachment of assets under the Fugitive Economic Offenders Act and money-laundering framework has been made in connection with the alleged proceeds of crime linked to late gangster Iqbal Mirchi and his family. The attached assets include three Worli properties in Mumbai and overseas properties in Dubai, with the investigation attributing ownership and control to Mirchi and his associates despite the properties standing in the name of a trust or other entities on paper. The enforcement action arises from multiple police FIRs concerning alleged organised criminal activity, including drug trafficking, extortion and illegal arms activity. The investigation states that the properties were allegedly acquired through laundering of proceeds generated from those activities.
May 18, 2026
India to keep buying Russian oil regardless of US sanctions waivers, says official
Show AI Summary
Russian crude sourcing remains driven by commercial viability and energy security despite the expiry of a sanctions waiver.
India continues to source Russian crude oil on the basis of commercial viability, adequate supply availability and energy security, and the expiry of a temporary US sanctions waiver does not change that approach. Procurement is described as continuing so long as it remains commercially sensible and supply is available. Russian oil remains a core part of India's import basket, with sourcing structured to avoid sanctioned sellers, intermediaries and vessels and to use compliant financial, insurance and trading channels.
May 18, 2026
Punjab minister Sanjeev Arora sent to 14-day judicial custody
Show AI Summary
Money laundering investigation leads to judicial custody amid alleged GST fraud, shell companies, and benami property transactions.
Punjab minister Sanjeev Arora was placed in judicial custody in connection with an alleged money laundering investigation arising from claims of GST fraud, suspicious property purchases, shell company routing, and benami holdings. The Enforcement Directorate stated that its questioning had been completed and that it was preparing to file a charge sheet. The investigation also reportedly extended to family members through summons and notices, with some relatives questioned and released.
May 18, 2026
Power regulator DERC to undertake 'intensive' audit of Delhi discoms by CAG-empanelled CA firm
Show AI Summary
Intensive audit of power discoms follows court directions on regulatory assets and limited audit scope.
The Delhi Electricity Regulatory Commission has initiated an intensive audit of Delhi distribution companies through a CAG-empanelled chartered accountancy firm after issuing a tender in line with Supreme Court directions. The audit is tied to the liquidation of accumulated regulatory assets and is confined to examining the circumstances in which the distribution companies continued without recovery of those assets, rather than a comprehensive financial audit. The process follows the Appellate Tribunal for Electricity's ruling that the earlier proposal for a CAG-conducted audit was not required by the Supreme Court and was contrary to the governing framework.
May 18, 2026
Gold flat at Rs 1.62 lakh/10g; silver edges higher on import curbs
Show AI Summary
Silver import restrictions lift domestic prices as gold stays flat amid rupee weakness and global bullion pressure.
Gold prices remained flat in the domestic bullion market, while silver prices edged higher after fresh restrictions were imposed on imports of silver in nearly all forms. The market reaction reflected expectations that tighter import availability could raise local premiums and support domestic silver prices, even as global bullion markets weakened. Domestic gold prices stayed resilient despite international softness because the rupee weakened to a record low, cushioning the decline in local rates.
May 18, 2026
India Targets $1 Trillion Exports This Year, $2 Trillion in Five Years: Union Commerce and Industry Minister Shri Piyush Goyal
Show AI Summary
Export growth strategy links free trade agreements, import substitution, and Swadeshi to strengthen India's domestic manufacturing base.
India has set an export target of USD 1 trillion for the current year and USD 2 trillion over the next five years, supported by free trade agreements with nearly 38 developed countries, import substitution efforts, and promotion of Swadeshi. The statement also stresses quality, productivity, domestic manufacturing, MSME growth, and wider use of UPI and RuPay to strengthen exports and reduce import dependence.
May 18, 2026
HIGHLIGHTS
Show AI Summary
Bail as the norm in UAPA cases shapes liberty analysis even where drug trafficking and terror financing are alleged.
Bail continues to be treated as the norm and jail as the exception even in UAPA matters, including cases alleging drug trafficking and terror financing. The gravity of the accusation by itself does not displace the governing bail principle, and personal liberty remains a central consideration in criminal procedure despite the special statutory framework involved in such prosecutions.
May 18, 2026
Rupee settles at record low of 96.35 against US dollar
Show AI Summary
Rupee weakness and forex pressure prompt tighter precious metal import controls to curb dollar outflows and support external stability.
The Indian rupee weakened to a record low against the US dollar amid a strong dollar, rising crude oil prices, geopolitical tensions, and foreign portfolio outflows. The government tightened controls on precious metal imports to reduce forex outflows and restrain non-essential imports by raising import duty on gold and silver and placing silver under a licensed import regime.
May 18, 2026
Indian markets capable of absorbing different types of shocks: SEBI chief on West Asia crisis
Show AI Summary
Market resilience and domestic investor confidence help Indian markets absorb global shocks and recover after volatility eases.
Indian markets are described as resilient enough to absorb external shocks arising from global crises, including conflict-driven volatility, supply chain disruption, inflationary pressure, spillover effects and second-order effects. The market impact of international developments is presented as natural in an interconnected global system, while the domestic market is said to regain its normal trajectory after the shock subsides. The statement also notes foreign portfolio investment outflows since September 2024, alongside continued confidence among domestic investors.
May 18, 2026
Robert Vadra withdraws in Delhi HC plea against trial court summons in Haryana land deal case
Show AI Summary
Money laundering summons challenge withdrawn as the petitioner exited the High Court plea, leaving contentions open for trial proceedings.
A petition challenging a trial court summons in a money laundering case arising from a Haryana land deal was unconditionally withdrawn before the Delhi High Court, with all rights and contentions kept open. The underlying dispute involved prosecution under the Prevention of Money Laundering Act, a chargesheet filed by the Enforcement Directorate, and an argument that the alleged predicate offences were not scheduled offences at the relevant time.
May 18, 2026
Rupee falls to record low of 96.25 against US dollar
Show AI Summary
Rupee pressure intensifies as oil prices, dollar strength and import curbs shape forex management measures.
The rupee weakened sharply amid elevated crude oil prices, a stronger US dollar, global uncertainty and geopolitical tensions. Market participants said the government and the RBI had begun proactive measures, while separate import curbs were reported for silver after higher customs duty on precious metals, with the stated aim of controlling forex outflows by curbing non-essential imports.
May 18, 2026
Commerce Secretary Shri Rajesh Agrawal Highlights Trade and Economic Cooperation at BRICS Meeting in Gandhinagar
Show AI Summary
Intra-BRICS trade and economic cooperation gain emphasis through calls for stronger value chains, services trade and MSME support.
BRICS trade and economic cooperation was highlighted as a growing platform for emerging markets and developing economies, with intra-BRICS merchandise trade described as having expanded sharply over time and still retaining significant untapped potential. The deliberations focused on strengthening the multilateral trading system, supporting the internationalisation of Micro, Small and Medium Enterprises, improving the resilience and diversification of global value chains, and expanding services trade.
May 18, 2026
GeM Observes Incorporation Day 2026; Continues to Support Digital Public Procurement System in India
Show AI Summary
Digital public procurement platform GeM advances transparency, widens market access, and strengthens domestic enterprise participation.
Government e Marketplace (GeM) continues to function as a digital public procurement platform established through a Section 8 non-profit special purpose vehicle under the Companies Act, 2013 to develop, manage and maintain the procurement system for government buyers and sellers. The platform advances transparency, efficiency and technology-driven governance in public procurement while widening market access for domestic enterprises, including Class-1 local suppliers, Micro and Small Enterprises, women-led enterprises, SC/ST entrepreneurs and startups.
May 18, 2026
China committed to US on not providing material support to Iran: US trade representative
Show AI Summary
Material support to Iran became the focus of US-China trade talks alongside broader negotiating terms and sector-specific trade understandings.
United States trade discussions with China centered on a commitment that China would not provide material support to Iran, while the United States did not seek direct Chinese action in relation to the Strait of Hormuz. Trade talks were also described as continuing at the officials' level, with consideration of a "Board of Trade" for negotiating trading terms on specific goods, alongside reported understandings on meat exports, biotechnology trade reviews, and aircraft purchases.

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Corp. Laws / SEBI / IBC

I-T department enables online filing of ITR-1, ITR-4

May 15, 2026

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New Delhi, May 15 (PTI) The Income Tax department on Friday enabled online filing of ITR-1 and ITR-4, which are filed by small and medium taxpayers, for the assessment year 2026-27.

"The Excel utility and Online filing for ITR-1 and ITR-4 for AY 2026-27 has been enabled and is now available for taxpayers on the e-Filing portal," the I-T department said in a post on X.

These forms for filing ITRs for income earned in the 2025-26 fiscal year were notified on March 30. With the online filing and excel utility now enabled, assessees can now start filing tax returns.

The last date for filing tax returns by individual taxpayers in ITR - 1 is July 31, while for non-audit taxpayers filing ITR-4, the deadline is August 31.

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.

Sahaj can be filed by a resident individual having annual income up to Rs 50 lakh, and who receives income from salary, one house property, other sources (interest) and agricultural income up to Rs 5,000 a year. It also allows reporting of long-term capital gains (LTCG) of Rs 1.25 lakh a year.

Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs)) having a total annual income up to Rs 50 lakh and income from business and profession. PTI JD HVA

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