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    RBI invites comments on the draft “Reserve Bank of India (Capital Adequacy) Amendment Directions, 2026”
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    Exicom Delivers its Strongest Quarter of FY26 as Both Businesses Return to Sharp Growth
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May 19, 2026
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Pillar 3 disclosure requirements are being aligned with Basel norms as draft capital adequacy amendments invite public comments.
The Reserve Bank of India has issued draft amendment directions to align Pillar 3 disclosure requirements with the Basel Pillar 3 disclosure framework and invited public comments. The consultation covers proposed amendments to capital adequacy directions for commercial banks and small finance banks, reflecting a review aimed at greater consistency in prudential disclosure norms. Comments may be submitted through the designated online regulatory channel, by post, or by email within the stated consultation period.
May 19, 2026
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Inflation pass-through from fuel prices keeps CPI under watch as wholesale costs and RBI caution rise.
Retail inflation remained below the RBI's medium-term target even as wholesale inflation rose sharply, with fuel and energy prices driving a marked divergence between CPI and WPI readings. Petrol and diesel price increases are expected to add to retail inflation gradually through transport, logistics, food distribution and other input costs. The RBI is expected to maintain a cautious pause on interest rates while monitoring global crude prices, food inflation and the transmission of fuel price increases into retail inflation.
May 19, 2026
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EV charging and critical power growth drive Exicom's strongest FY26 quarter with EBITDA breakeven and expanding capacity.
Exicom Tele-Systems reported its strongest quarter of FY26, with standalone revenue and EBITDA margin improving sharply and consolidated EBITDA turning breakeven for the first time since the Tritium acquisition. The company linked the improvement to stronger domestic EV charging demand, rising exports and Tritium's commercial scale-up, while noting that the full-year consolidated loss reflected a longer period of Tritium operations in FY26. It also highlighted growth in the critical power business and the inauguration of an integrated Hyderabad manufacturing facility.
May 19, 2026
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Trade confidence in SME family businesses remains strong, but worsening risk and governance tensions are dragging down export potential.
India's SME family business exporters show strong trade optimism, but that confidence is being reduced by a hostile and worsening risk environment. A study of 461 leaders uses four indices to measure forward-looking optimism, macro risk burden, risk momentum, and family governance risk, producing a modestly positive Net Trade Confidence Score. The report highlights a structural gap between business expectations and operating conditions and calls for targeted support on trade literacy, export finance, and family governance in internationalisation decisions.
May 19, 2026
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Money laundering through benami accounts and extortion allegations drove custodial interrogation in a large financial crime probe.
Proceedings under the Prevention of Money Laundering Act involved allegations that Ashok Kharat orchestrated an extortion racket and laundered more than Rs 70 crore through benami bank accounts. The agency alleged misuse of victims' documents, opening of multiple accounts in a single day, and acquisition of properties in the names of Kharat and his family members from the alleged proceeds.
May 19, 2026
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Temple gold monetisation rumours denied; official communications confirm no approved scheme or strategic reserve classification.
False claims regarding a proposed monetisation scheme for temple gold holdings are expressly denied. Assertions that the Government plans to issue gold bonds to temples in exchange for temple gold reserves, or that any such proposal has been approved, are stated to be completely false, misleading, and without basis. Claims that gold plates on temple towers, doors, or other temple structures would be treated as Strategic Gold Reserves of India are also denied as baseless.
May 18, 2026
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Sanctions compliance settlement follows alleged Iran-linked LPG shipments, with cooperation, self-disclosure and remedial controls credited.
Civil sanctions liability arising from alleged Iran-related LPG shipments was settled with the U.S. Treasury Department's Office of Foreign Assets Control, without any admission of the allegations. The company's purchases from a Dubai-based trader were alleged to have involved LPG that originated from Iran, despite being represented as Omani and Iraqi supply. OFAC credited extensive cooperation, proactive self-disclosure, suspension of LPG imports, and strengthened sanctions compliance measures across the corporate group.
May 18, 2026
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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.

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CBSE OSM row: Congress seeks CBI probe into 'emerging scandal', Pradhan's resignation

May 30, 2026

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New Delhi, May 30 (PTI) The Congress on Saturday alleged an "astonishing mix of incompetence, corruption, and callousness" marked the CBSE's planning and implementation of the Class 12 Board exams, reiterating its demand for Education Minister Dharmendra Pradhan's resignation and a full CBI probe into the "emerging scandal".

Senior Congress leader Jairam Ramesh flagged two investigations -- one by CBSE Class 12 student Sarthak Sidhant and another by a newspaper -- and said they had raised fresh questions over the CBSE's intent and preparedness in introducing the On-Screen Marking System (OSM) for the Class 12 Board exam.

In a post on X, Ramesh referred to media reports and posted 10 questions, saying parents and students were seeking answers from Prime Minister Narendra Modi, "who is, according to the Solicitor General, personally supervising this mess".

Why was the CBSE so insistent on introducing OSM that it rushed the process within 74 days before the board exams, Ramesh asked.

Pointing out that the CBSE had flagged at least 36 technical, operational, and evaluation-related concerns from the OSM dry run it conducted in five Delhi schools, he asked why these concerns were not acted upon before the exams.

"The CBSE issued three RFPs to award the contract for the OSM system. Why was the proviso that disqualified bidders with a past record of poor performance removed in the third RFP? Was this done to favour COEMPT, which had previously been blacklisted in Telangana?" Ramesh said.

Why was the proviso, which prohibited bidders who were previously blacklisted, watered down to exclude only bidders who were currently blacklisted, he further asked.

"Was the minimum company turnover for the bidder specifically set at Rs 50 crore to enable COEMPT (which had a three-year average turnover of 50.86 crores) to qualify for the contract?" Ramesh said.

He also questioned the dilution of the Capability Maturity Model Integration level for contractors from Level 5 to Level 3.

Why was the project criteria changed to favour vendors who have smaller, fragmented university contracts over vendors having experience with large student counts, Ramesh asked.

"Why were the RFP provisions changed from favouring contractors having their own data centres to those having MeitY empanelled data centres? Was this done to systematically favour COEMPT, which used AWS (MeitY empanelled) over TCS (which has its own data centers)? Why did the CBSE give up its right to blacklist the contractors in case the contractors made mistakes?" the Congress general secretary in charge of communications said.

Why was the technical and operational capability of the score matrix modified to favour fragmented vendors, Ramesh asked.

"It is increasingly clear that an astonishing mix of incompetence, corruption, and callousness went into the CBSE's planning and implementation of the Grade 12 Board Exams. Mantri Pradhan must resign, and a full CBI investigation must be conducted into this emerging scandal," Ramesh said.

Congress leader Rahul Gandhi had on Friday said that Prime Minister Modi's silence on the CBSE debacle and inaction against the education minister showed he cared only about the survival of his government and not the future of lakhs of students.

In a post on X, Gandhi had said he had been demanding an independent judicial probe from day one into the CBSE's on-screen marking and the award of the contract to COEMPT, as the youth of the country deserved to know the truth.

Gandhi had shared media reports and called upon people to read them carefully.

"CBSE called for OSM tenders thrice. Zero bids the first time. No qualified bidder the second time. And finally, the technical bar was lowered until COEMPT could clear it. Scanning resolution cut. Robotic scanner requirement dropped. CMMI certification lowered from Level 5 to Level 3. Penalties for errors in answer sheets removed.

"TCS, India's biggest IT services company, qualified in the third round too. TCS lost. COEMPT - a company with a spectacular track record of failure - won. And what are CBSE students complaining about today? Badly scanned answer sheets. Missing pages. A broken evaluation portal," he had said. PTI ASK RHL

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