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    June 17, 2026
    Rs 138 cr duty evaded on walnut imports by falsifying consignment origins; 5 held
    June 17, 2026
    Advisory on e-Invoice API and e-Way Bill by IRN API changes for mandatory capture of Ship-to GSTIN and Voluntary Closure of e-Way Bill
    June 17, 2026
    Appointment of Chairperson and Members in the National Statistical Commission
    June 17, 2026
    India-EU free trade deal to be inked by year-end: Ursula von der Leyen
    June 17, 2026
    Digital systems secure, says Axis Bank amid AI platform-driven vulnerability claims on cybersecurity
    June 17, 2026
    HIGHLIGHTS
    June 17, 2026
    Gold price tumbles Rs 4,800 to Rs 1.54 lakh/10g, silver drops Rs 5,300
    June 17, 2026
    India's exports hit record USD 863 billion in FY 26 amid West Asia turmoil and US tariffs: Official
    June 17, 2026
    Rs 138 cr fraud of customs duty evasion on walnut import busted in Navi Mumbai; 5 held so far
    June 17, 2026
    TN's excise revenue lags behind K'taka, Maharashtra: Govt
    June 17, 2026
    Ex-Kerala CM's daughter Veena appears for questioning before ED in PMLA case
    June 17, 2026
    CCI approves subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited
    June 17, 2026
    CCI approves proposed combination involving acquisition of PGIM India Asset Management and PGIM India Trustees by TVS Emerald Ltd. and TVS Venu Manage...
    June 17, 2026
    CCI approves the proposed combination involving inter-alia subscription to certain CCPS and acquisition of certain equity share capital of Romsons Gro...
    June 16, 2026
    'Minimal space' for new programmes, says CM Vijay-led TN govt
    June 16, 2026
    PRESS RELEASE ON NEW SERIES OF WHOLESALE PRICE INDEX, AND PRODUCER PRICE INDICES WITH BASE YEAR 2022-23
    June 16, 2026
    ED searches at 17 locations in corporate insolvency process case
    June 16, 2026
    NIA Special Public Prosecutor Advocate Gautam Khazanchi Engages Galgotias Law Students on Bail Jurisprudence, Constitutional Safeguards and PMLA
    June 16, 2026
    HIGHLIGHTS
    June 16, 2026
    Iran war is a 'wake-up call' for Southeast Asia's energy sector, report says
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    June 17, 2026
    Rs 138 cr duty evaded on walnut imports by falsifying consignment origins; 5 held
    Show AI Summary
    Country-of-origin fraud in walnut imports triggered customs duty evasion, arrests, and conditional release of seized consignments.
    Fraudulent walnut imports were allegedly routed through Nhava Sheva Port by falsely declaring non-Afghanistan consignments as Afghanistan-origin to claim preferential tariff benefits under SAFTA, using forged transit bills of lading and proxy importers. Five persons were arrested and searches yielded digital and documentary evidence. In a related writ petition, conditional release of seized consignments was permitted only against deposit of the full differential duty or a bank guarantee of equivalent amount.
    June 17, 2026
    Advisory on e-Invoice API and e-Way Bill by IRN API changes for mandatory capture of Ship-to GSTIN and Voluntary Closure of e-Way Bill
    Show AI Summary
    Ship-to GSTIN compliance and voluntary e-way bill closure reshape IRN and e-invoice API operations before production rollout.
    Mandatory capture of Ship-to GSTIN has been introduced across specified e-Invoice API, e-Way Bill by IRN API and EWB Closure API flows, with URP permitted where GSTIN is not available. The revised framework requires a valid and distinct Ship-to GSTIN in Bill-to/Ship-to transactions, together with state code and PIN code validations, while export and B2B/SEZ scenarios are subject to specific treatment for ship details. A voluntary closure facility for e-Way Bills has also been introduced, with portal and API-based closure available using the EWB number, closure date and remarks.
    June 17, 2026
    Appointment of Chairperson and Members in the National Statistical Commission
    Show AI Summary
    Statistical governance and coordination strengthened through appointments to the National Statistical Commission and its standard-setting role.
    Appointment of the Chairperson and Members of the National Statistical Commission was approved, with Dr. Saibal Chattopadhyay as Chairperson and three Members appointed. The Commission is a nodal body for core statistical activities, responsible for statistical priorities, standards and coordination. Its functions include standardising concepts, definitions, classifications and methodologies, improving public trust in official statistics, laying down quality standards, coordinating with governments and ministries, undertaking statistical audit, and monitoring the statistical system for performance improvement.
    June 17, 2026
    India-EU free trade deal to be inked by year-end: Ursula von der Leyen
    Show AI Summary
    India-EU free trade agreement advances with investment, defence cooperation and connectivity talks on the agenda.
    India and the European Union are to advance their trade and economic engagement by finalising a free trade agreement by the end of the year and accelerating work on an investment agreement. The two sides also identified wider areas of cooperation, including stepped-up security and defence cooperation and collaboration on connectivity through the India-Middle East-Europe Corridor.
    June 17, 2026
    Digital systems secure, says Axis Bank amid AI platform-driven vulnerability claims on cybersecurity
    Show AI Summary
    Cybersecurity in banking hinges on distinguishing system breaches from customer deception, while faster patch deployment becomes critical against AI-driven vulnerability discovery.
    Cybersecurity in banking requires a distinction between internal system breaches and cyber fraud caused by customer deception through phishing and social engineering. A private sector bank said its systems remain secure and that fraud incidents have not stemmed from weaknesses in its cybersecurity architecture. It also identified the main AI-related risk as faster discovery of software vulnerabilities, making quicker patch deployment and remediation essential.
    June 17, 2026
    HIGHLIGHTS
    Show AI Summary
    Temporary platform restriction and NEET re-test challenge raise access, compliance, and procedural concerns.
    Temporary restriction on access to a messaging platform has prompted a challenge before the Delhi High Court, with the restriction reported as being linked to the period before the NEET-UG re-examination. The development raises a compliance and access issue concerning the basis and scope of the government order affecting the platform. Judicial and parliamentary proceedings are also reported on the NEET-UG re-test and on proposed legislation to decriminalise politics, including a Supreme Court hearing on the re-test plea and committee consideration of detention-linked removal from office for serious crimes.
    June 17, 2026
    Gold price tumbles Rs 4,800 to Rs 1.54 lakh/10g, silver drops Rs 5,300
    Show AI Summary
    Precious metals prices fall as a strong rupee, weak global trends and caution ahead of US policy decisions weigh on demand.
    Gold and silver prices fell sharply in domestic bullion markets amid a strong rupee, weak global trends and subdued investor demand. Traders stayed away from precious metals as equity markets offered higher returns, while analysts linked caution to key US economic events, including the Federal Reserve's monetary policy decision, and to developments ahead of the scheduled US-Iran meeting.
    June 17, 2026
    India's exports hit record USD 863 billion in FY 26 amid West Asia turmoil and US tariffs: Official
    Show AI Summary
    Special Economic Zones drive India's export growth, with Gujarat emerging as a major hub for investment and semiconductor expansion.
    India's export sector recorded an all-time high of USD 863 billion in FY 2025-26 despite disruption from the West Asia conflict and US tariffs, driven by engineering goods, petroleum products, electronics, pharmaceuticals, gems and jewellery, and chemicals. Gujarat emerged as a major contributor, and the discussion highlighted the role of Special Economic Zones in investment, employment, innovation, and export expansion, including newly notified semiconductor SEZ projects and a policy focus on promoting additional SEZs.
    June 17, 2026
    Rs 138 cr fraud of customs duty evasion on walnut import busted in Navi Mumbai; 5 held so far
    Show AI Summary
    Customs duty evasion through false origin claims on walnut imports exposed in a SAFTA-linked routing racket.
    Customs authorities uncovered a walnut-import duty evasion racket at Nhava Sheva in which consignments were routed through Jebel Ali and falsely shown as originating from Afghanistan to claim preferential tariff benefits under SAFTA. The scheme allegedly used forged transit bills of lading and a fictitious transit trail to support false country-of-origin claims, causing substantial revenue leakage. Five persons have been arrested, searches yielded digital and documentary evidence, and further investigation continues into beneficiaries, facilitators, financial linkages and connected consignments.
    June 17, 2026
    TN's excise revenue lags behind K'taka, Maharashtra: Govt
    Show AI Summary
    Excise duty revenue gap widens as liquor tax remains a major share of own tax revenue.
    State excise duty collections are reported to lag behind peer states, with the state recording the lowest absolute collection among the compared jurisdictions. The data shows a smaller excise base and slower growth than the peer states, making the revenue gap a significant part of the overall State Own Tax Revenue position. Excise duties and VAT on liquor together still form a substantial share of own tax revenue, making liquor-related taxation consequential for the state's fiscal position.
    June 17, 2026
    Ex-Kerala CM's daughter Veena appears for questioning before ED in PMLA case
    Show AI Summary
    Money laundering allegations drive questioning over disputed corporate transactions and alleged proceeds of crime under PMLA.
    Money laundering allegations concern transactions between a now-defunct IT firm and a mining company, with the Enforcement Directorate questioning Veena T and seeking documents on the dealings. The inquiry relates to alleged payments by Cochin Minerals and Rutile Ltd. without services in return, and loans extended to Exalogic by another company connected with the same management. The agency has alleged generation of proceeds of crime and registered the matter under the Prevention of Money Laundering Act on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.
    June 17, 2026
    CCI approves subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited
    Show AI Summary
    Competition Commission approval for equity subscription in a financial services company through a proposed combination
    Competition Commission approval was granted for a proposed combination involving the subscription of certain equity shareholding by Kedaara Pearl Holding and Kedaara Capital Fund IV AIF in Axis Finance Limited. The transaction concerns a minority equity subscription in a financial services enterprise, with the Commission's detailed order stated to follow.
    June 17, 2026
    CCI approves proposed combination involving acquisition of PGIM India Asset Management and PGIM India Trustees by TVS Emerald Ltd. and TVS Venu Management and Consultancy Services
    Show AI Summary
    Proposed combination approval for acquisition of asset management and trustees businesses by TVS entities.
    Approval of a proposed combination involving acquisition of 100% of the issued, subscribed and paid-up share capital of PGIM India Asset Management Private Limited and PGIM India Trustees Private Limited by TVS Emerald Limited and TVS Venu Management and Consultancy Services Private Limited. TVS Emerald Limited is engaged in real estate development in India, while TVS Venu Management and Consultancy Services Private Limited presently has no business activities. The target entities are engaged in wealth management, including mutual funds, portfolio management services, alternative investment funds and investment advisory services.
    June 17, 2026
    CCI approves the proposed combination involving inter-alia subscription to certain CCPS and acquisition of certain equity share capital of Romsons Group by Jongsong Investments
    Show AI Summary
    Competition clearance for acquisition and CCPS subscription in Romsons Group under a proposed internal restructuring.
    Competition Commission of India clearance was granted for a proposed combination involving internal restructuring of the Romsons Group and the subscription to compulsorily convertible preference shares together with acquisition of equity share capital in Romsons Group Private Limited by Jongsong Investments Pte. Ltd. The acquirer is an investment holding company and an indirect wholly owned subsidiary of Temasek Holdings Private Limited. The target is engaged in the manufacture and sale of medical devices and personal care and hygiene products.
    June 16, 2026
    'Minimal space' for new programmes, says CM Vijay-led TN govt
    Show AI Summary
    Fiscal space for new programmes remains minimal as Tamil Nadu's White Paper flags higher deficits, borrowing constraints, and understated liabilities.
    Tamil Nadu's White Paper on state finances says there is only minimal fiscal space for new programmes because projected deficits remain high, borrowing is constrained, and committed expenditure is understated. It notes over-projected tax revenue, omitted recurring liabilities, and limited borrowing headroom, leading to a much larger expected revenue deficit and fiscal deficit than budgeted. The paper also highlights worsening debt, interest burden, revenue weakness, and the need for sustained revenue mobilisation, expenditure control, debt management, and clean governance.
    June 16, 2026
    PRESS RELEASE ON NEW SERIES OF WHOLESALE PRICE INDEX, AND PRODUCER PRICE INDICES WITH BASE YEAR 2022-23
    Show AI Summary
    Wholesale Price Index revision with base year 2022-23 expands coverage, updates methodology, and introduces new producer price indices.
    Wholesale Price Index and Producer Price Indices are being revised with base year 2022-23, replacing the existing WPI series with base year 2011-12. The revised framework introduces a larger commodity basket, updated grouping of energy items, revised weight derivation using Gross Value of Output for WPI, short-term formulation for elementary indices, and targeted mean imputation for missing prices. Output PPI, trial Input PPI, and Service PPIs are also introduced, with monthly, experimental, and quarterly release schedules, respectively, and back-series data made available on the official portal.
    June 16, 2026
    ED searches at 17 locations in corporate insolvency process case
    Show AI Summary
    Corporate insolvency resolution process scrutiny deepens amid alleged circular transactions, fraudulent asset transfers, and voting-rights violations.
    Enforcement Directorate searches were conducted at 17 locations in Maharashtra and Delhi in a money laundering investigation linked to alleged irregularities in a corporate insolvency resolution process. The probe concerns an allegedly fraudulent loan and other loans, and is aimed at gathering material on circular transactions, fraudulent takeover of stressed assets, under-valuation of auctioned assets, inflated and fraudulent claims, violation of creditor voting rights, and lack of transparency in the insolvency resolution process.
    June 16, 2026
    NIA Special Public Prosecutor Advocate Gautam Khazanchi Engages Galgotias Law Students on Bail Jurisprudence, Constitutional Safeguards and PMLA
    Show AI Summary
    Bail jurisprudence and Article 22 safeguards shaped a detailed discussion on PMLA, economic offences, and criminal litigation complexity.
    Bail jurisprudence in criminal cases was discussed with emphasis on the constitutional balance between personal liberty and the interests of justice. The lecture explained the constitutional foundations governing bail, the evolution of judicial interpretation through precedent, and the principles considered by courts while granting or refusing bail in criminal proceedings. It also covered Article 22 safeguards, including protections relating to arrest, detention, legal representation, and procedural rights, and focused on the Prevention of Money Laundering Act, the Enforcement Directorate, stringent bail conditions, and the practical challenges of financial crime litigation.
    June 16, 2026
    HIGHLIGHTS
    Show AI Summary
    Aadhaar identity use questioned over alleged misuse as proof of citizenship, domicile and residential address.
    A plea has challenged the alleged misuse of Aadhaar cards as proof of citizenship, domicile and residential address, seeking directions to limit their use strictly to identity verification. The matter concerns the permissible legal scope of Aadhaar-based identification and the need to prevent its use for purposes not authorised by the governing framework.
    June 16, 2026
    Iran war is a 'wake-up call' for Southeast Asia's energy sector, report says
    Show AI Summary
    Energy diversification becomes urgent as Southeast Asia confronts import dependence, price shocks and cleaner power transition pressures.
    Southeast Asia's energy sector is exposed to supply and price shocks because of heavy reliance on imported oil and gas through the Strait of Hormuz. The report urges diversification of energy sources and supply routes, reduced dependence on imported fossil fuels, improved grid efficiency and greater investment in renewable energy, while noting rising rooftop solar use, electric vehicle sales and renewed interest in nuclear power.

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      PMLA / Black Money

      ED searches at 17 locations in corporate insolvency process case

      June 16, 2026

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      Mumbai, Jun 16 (PTI) The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Delhi as part of a money laundering investigation into alleged irregularities related to a corporate insolvency resolution process, officials said.

      They said a total of 17 locations related to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd, Khyati Realtors Pvt Ltd, their promoters, directors and employees, along with a former YES Bank employee, were searched in Mumbai, Khandala (Maharashtra) and Delhi.

      The companies could not be contacted immediately for a comment on the Enforcement Directorate (ED) action.

      The probe pertains to the alleged fraudulent grant of a loan by YES Bank originally to a company named Mackstar Marketing Pvt Ltd, apart from some other loans taken in the 2016-17 and 2017-18 financial years, according to ED officials.

      The raids aim to unearth evidence to prove charges of collusion among ARCs (asset reconstruction companies) by engaging in "circular" transactions leading to "fraudulent" takeover of stressed assets, under-valuation of auctioned assets, inflated and fraudulent claims, violation of creditor voting rights in the National Company Law Tribunal and the overall lack of transparency in the Corporate Insolvency Resolution Process, officials said. PTI NES MJH PRK

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