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    NFRA and ICAI collaborate to organise a workshop on “Creating a Better Financial Reporting Ecosystem” at Pune
    UP's exports to BRICS nations cross USD 5.36 billion during FY2025-26: Govt
    J&K's Sirajul Uloom comes under NCLT after being declared illegal
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    Sebi restores market buybacks for firms, caps execution window at 66 days
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    SC flags 'deep-rooted nexus' between banks, asset reconstruction companies, borrowers over loans
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June 20, 2026
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Audit quality and financial reporting standards drive NFRA-ICAI workshop focus on professional capacity and global competitiveness.
NFRA, in collaboration with ICAI, organised a workshop in Pune to enhance professional capacity for audit practitioners, strengthen audit quality and improve the quality of financial reporting. The programme focused on the role of the accountancy profession in safeguarding public interest and maintaining trust in financial reporting, while urging audit firms, including small and medium practitioners, to align with contemporary global standards and continuously improve competence.
June 20, 2026
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MSME-led trade expansion drives Uttar Pradesh's BRICS exports, with industrial support schemes linking artisans, youth and global markets.
Uttar Pradesh reported expanding trade links with BRICS member and partner countries, with exports of machinery, garments, leather, carpets and precious stones crossing USD 5.36 billion in 2025-26. The state also highlighted the MSME sector as a driver of employment and growth, along with the One District One Product scheme, Vishwakarma Shram Samman Yojana, youth entrepreneurship support through interest-free, guarantee-free loans, and MSME parks under the PLEDGE scheme.
June 19, 2026
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NCLT asset takeover follows declaration of illegal entity, with property vested and encroachment warned against.
NCLT has taken over the assets and properties of the Sirajul Uloom Welfare Foundation after it was declared an illegal entity, with all properties vested in the National Company Law Tribunal, Chandigarh. The order warns that interference with, encroachment upon, or trespass over the properties would violate the tribunal's directions and attract action under the relevant legal provisions.
June 19, 2026
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Fresh litchi export facilitation boosts Uttarakhand growers and opens European market access through coordinated export support.
Facilitation of the first-ever export consignment of fresh litchis from Uttarakhand to Italy marked the State's entry into the European market. The inaugural shipment of one metric tonne of Dehradun litchi was dispatched from Dehradun, with the export covering varieties such as Rose Scented, Calcuttia and Bedana cultivated in the Dehradun, Haridwar, Nainital and Udham Singh Nagar districts. The export initiative provided a financial boost to local growers, with farmers reportedly securing prices nearly 25 per cent higher than prevailing domestic market rates.
June 19, 2026
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Regulatory and market updates include buyback reforms, IPO approvals, RBI caution on rates, and food safety notices.
Employment incentives were disbursed under Pradhan Mantri Viksit Bharat Rozgar Yojana, with support extended for new jobs and the employment count under the scheme reported as having crossed 70 lakh. Sebi approved the reintroduction of share buybacks through stock exchanges, allowed open-market repurchases from August 1, and capped the execution period at 66 working days. The RBI Monetary Policy Committee maintained a wait-and-watch stance on interest rates amid uncertainty over inflation and growth. Food safety notices, forex reserve data and market updates were also reported.
June 19, 2026
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Share buyback framework returns through stock exchanges with tighter execution limits and simpler market access rules.
Sebi approved the reintroduction of share buybacks through stock exchanges, allowing companies to repurchase their own shares through regular trading mechanisms without a dedicated buyback window, with the execution period capped at 66 working days. The board also eased mutual fund borrowing norms, simplified securities transmission procedures, approved a green-channel mechanism for AIFs, strengthened governance and disclosure requirements for Sebi members and employees, and cleared amendments to frameworks for SDIs and municipal debt securities.
June 19, 2026
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Market access for tribal farmers takes centre stage as NABARD promotes organically grown mangoes and buyer linkages.
Market access for tribal farmers was promoted through a mango festival organised by NABARD in Ranchi, featuring naturally grown, export-quality mangoes sourced from NABARD-supported tribal farmers. The initiative was linked to NABARD's Tribal Development Fund and farmer-producer organisations, and was intended to connect farmers with premium domestic and international buyers, including exporters and food processing companies, for organically grown produce.
June 19, 2026
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FEMA investigation over alleged unauthorised crypto-based cross-border transfers and RBI unauthorised payment services
Enforcement Directorate initiated a FEMA investigation against five Bengaluru-based companies alleged to have used cryptocurrency and virtual digital assets for cross-border money transfers without authorisation from the RBI. The allegations concern online advertising of instant crypto-based conversion and transfer services, including buying, selling and swapping cryptocurrency for global remittances, and search operations at multiple premises in Karnataka. The probe also refers to alleged circumvention of FEMA regulations through OTC deals, shell entities and foreign-based crypto platforms, along with restraint orders on certain bank accounts.
June 19, 2026
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Foreign exchange controls tighten as Sri Lanka moves to closely monitor imports and curb leakages.
Sri Lanka is introducing a new regulatory framework to closely monitor imports in order to prevent foreign exchange leakages. The measure is directed at tighter oversight of import activity and is intended to curb outflows of foreign currency through the trade channel. The stated focus is on enhanced monitoring and compliance control over imports as part of broader foreign exchange management.
June 19, 2026
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Monetary policy wait-and-watch approach prevails as inflation, growth and external shock uncertainties keep rates unchanged.
The Monetary Policy Committee maintained the benchmark policy rate and neutral stance, adopting a wait-and-watch approach amid heightened uncertainty over inflation and growth. Members cited the West Asia conflict, supply-chain disruptions, monsoon variability, and possible energy and food price pressures as factors making near-term projections unstable. The neutral stance was described as preserving operational flexibility to respond to changing macroeconomic conditions.
June 19, 2026
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Artificial intelligence and digital expansion drive Reliance growth plans alongside Jio Platforms' proposed public listing.
Reliance outlined growth plans across artificial intelligence, satellite broadband, clean energy, consumer businesses and exports, while Jio Platforms filed draft papers for a fresh issue of shares as part of a proposed initial public offering. The digital business is positioned for broader 5G expansion, enterprise technology services and overseas commercialisation, while the AI venture is intended to build infrastructure, platforms and services for consumers, enterprises and governments. The group also highlighted clean-energy investments, a shift from oil-to-chemicals toward chemicals and advanced materials, and further expansion in retail and manufacturing.
June 19, 2026
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Free AI certification platform offers QR-verified credentials through Claude AI, making AI skill recognition faster and more accessible.
Aimanthan is a free AI certification platform that gives Indian learners a QR-verified certificate in minutes at zero cost, using Claude AI to generate unique questions, evaluate answers contextually, and issue a score, grade and level based on demonstrated knowledge. Each certificate carries a unique certificate number and QR verification code for live authentication, and the platform also offers AI-powered courses, an AI tutor, college partnership programmes and alignment with Skill India, Digital India and the IndiaAI Mission.
June 19, 2026
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Inflation vigilance and a wait-and-watch monetary stance shape the policy response amid uncertainty and price pressures.
The Monetary Policy Committee minutes record a wait-and-watch approach to monetary policy amid heightened uncertainty over inflation and growth. The Governor supported maintaining the policy rate unchanged while retaining a neutral stance, citing risks arising from conflict-related disruption, supply-chain pressures, and the impact of monsoon conditions on energy, food, and other commodity prices. The minutes also stress the need to remain watchful about the generalisation of inflation in the coming months.
June 19, 2026
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Digital wallet limits spark user opposition as survey backs retaining or increasing caps and linking them to KYC levels.
A public survey of digital wallet users showed broad opposition to reducing wallet storage and transaction limits proposed under the draft Master Direction on Prepaid Payment Instruments, 2026. Most respondents wanted limits retained or increased, while others supported limits linked to the level of KYC or authentication completed by the user. The survey linked lower limits with inconvenience in daily payments and questioned whether tighter caps would reduce fraud. The draft framework was also noted to include higher Full-KYC wallet balances, lower cash top-up limits, transfer caps, interoperability, immediate refunds, and stricter compliance requirements.
June 19, 2026
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Foreign exchange reserves decline as gold reserves fall, while foreign currency assets rise in RBI data.
India's foreign exchange reserves declined during the reporting week, primarily because of a sharp fall in gold reserves, even though foreign currency assets increased. The RBI data showed that the overall reserves fell to USD 671.625 billion, while special drawing rights and India's reserve position with the IMF also recorded marginal declines.
June 19, 2026
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Open market share buybacks through exchanges gain a faster route, alongside eased fund borrowing and quicker AIF fundraising.
Reintroduction of open market share buybacks through stock exchanges provides companies with an additional mechanism for undertaking buybacks and is intended to ensure equitable opportunity and tax treatment for public shareholders. The measure is accompanied by a faster execution timeline for such buybacks. Relaxation of intra-day borrowing norms for mutual funds eases borrowing constraints, while a green-channel mechanism for alternative investment funds permits fundraising to begin within 10 working days of filing placement memorandums.
June 19, 2026
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Banking fraud and stressed loan settlements draw scrutiny over alleged nexus among banks, asset reconstruction companies and borrowers.
Concerns were raised over an alleged nexus between banks, asset reconstruction companies and borrowers in the settlement of stressed loans, with emphasis on misuse of public money and inadequate recovery efforts. A plea sought a probe into alleged banking frauds involving public sector banks, asset reconstruction companies and a Noida-based infrastructure firm, including diversion of loan funds through shell companies, non-existent vendors, undisclosed bank accounts and suspected fraudulent transactions.
June 19, 2026
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Agri-export promotion gains momentum as fresh Uttarakhand litchi enters the European market through coordinated value-chain support.
APEDA facilitated the first export consignment of fresh Uttarakhand litchi from Dehradun to Italy, marking entry into the European market and demonstrating the export potential of Uttarakhand's horticulture sector. The shipment reflects the growing international acceptance of India's premium fresh fruits and the expanding presence of Himalayan produce in high-value overseas markets. The initiative highlights coordinated value-chain support, quality production practices and export-oriented horticulture, while indicating better price realisation for growers.
June 19, 2026
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Strait of Hormuz reopening eases global energy security risks and restores free passage for commercial vessels.
The reopening of the Strait of Hormuz restores a critical global energy chokepoint after months of disruption that had restricted shipping, pushed up crude prices and raised concerns over energy security. The memorandum of understanding contemplates free passage of commercial vessels through the Strait for a limited period, with full normalisation expected after mines and other technical obstacles are cleared. It also contemplates talks with Oman and other regional actors on longer-term administration.
June 19, 2026
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Money laundering investigation leads to bank locker examination over alleged corporate transactions and proceeds of crime
Enforcement Directorate action in a money laundering investigation extended to examination of a bank locker belonging to Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan, in her presence at an HDFC Bank branch. The inquiry relates to alleged transactions involving her now-defunct IT firm, Exalogic, and its purported links with Cochin Minerals and Rutile Ltd, including payments said to have been made without corresponding services and loans allegedly extended through another company connected with CMRL management.

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Unauthorised absence by RBI official grave misconduct: HC; upholds his removal

June 14, 2026

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Mumbai, Jun 14 (PTI) Unauthorised absence from work by a Reserve Bank of India (RBI) official would be detrimental to the public interest and amount to grave misconduct, the Bombay High Court has said, refusing relief to an employee who was removed from service.

The petitioner, Animesh Bakuli, was a senior assistant with the RBI and would undoubtedly be occupying a responsible post from which he was unauthorisedly absent for a long period, a bench of Justices R I Chagla and Advait Sethna noted in the order passed on June 10.

"Such unauthorised absence would undoubtedly be detrimental to the public interest and a grave misconduct which would warrant dismissal from service," the court said.

Dismissing Bakuli's plea, it said the RBI's decision compulsorily retiring him from service does not suffer from any infirmity.

Bakuli had sought that the HC quash the RBI's February 2023 order compulsorily retiring him from service on the ground of unauthorised absence. He also demanded a direction to the Reserve Bank to disburse payment and other allowances blocked it since December 2020 without notice.

The petitioner was employed with the RBI from 2013 and was designated as a senior assistant since January 2018.

Bakuli had on several occasions sought that the RBI transfer him to Kolkata so that he could live with his parents. The Reseve Bank rejected his requests.

From March 2020, Bakuli remained absent from his duties without permission from his superiors. The RBI sent repeated communications to Bakuli directing him to either report back to duty or submit a leave application supported by a medical certificate. However, he did not respond.

The RBI then issued him a show-cause notice and initiated an enquiry against him for committing breach and misconduct of rules and regulations governing the apex bank.

As per the RBI, Bakuli failed to reply to the notice and also did not appear for the enquiry meetings to present his arguments. Pursuant to this, the final order imposing a penalty of compulsory retirement was passed against him.

As per the petitioner, he left Mumbai for Kolkata to be with his parents during the COVID-19 pandemic and hence could not report to work.

In his plea, Bakuli claimed the decision was harsh and that the enquiry violated the principles of natural justice as he was not given a chance to put forth his case.

The bench, however, noted that there has been no such violation as several opportunities were given to him to remain present during the disciplinary proceedings.

Bakuli remained absent from work unauthorisedly, due to which the RBI was left with no option but to initiate disciplinary action, the HC observed.

In July 2020 (during the pandemic), the RBI issued a notice stating that there would be resumption of operation in the Central Office Departments by following safety protocols, it noted. PTI SP GK

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