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    Punjab extends deadline of one-time scheme for settling tax dues of pre-GST period till Sept 30
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July 31, 2026
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One-Time Settlement Scheme offers final pre-GST tax dispute resolution relief before stricter recovery action against defaulters begins.
The One-Time Settlement Scheme 2025 for pre-GST tax dues has been extended until September 30. Eligible taxpayers may resolve pending legacy tax disputes with full waiver of interest and penalties and slab-wise relief in principal tax. After the deadline, recovery action may be intensified under applicable tax laws and the Punjab Land Revenue Act, including property attachment, auction and freezing of bank accounts. The department also supports amicable settlement of tax disputes through the SAMADHAN initiative.
July 31, 2026
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Bilateral trade agreement implementation supports expanded trade, investment and strategic cooperation through technology, security, clean energy and community links.
The India-UK Comprehensive Economic and Trade Agreement was identified as a framework for expanding bilateral trade and investment opportunities following its operationalisation. The two governments proposed closer cooperation to use the agreement for shared prosperity, while advancing their comprehensive strategic partnership through technology, innovation, defence, security, clean energy, education and people-to-people links.
July 31, 2026
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Sectoral bank credit growth reflects broad-based expansion across industry, services, agriculture and personal loans, with slower credit-card growth.
Sectoral bank credit growth accelerated across non-food lending, agriculture, industry, services and personal loans. Industrial credit expanded across micro and small, medium and large enterprises, with strong lending to infrastructure, engineering, food processing, textiles, construction, metals, petroleum-related products and chemical products. Services lending was supported by non-banking financial companies, commercial real estate and trade. Vehicle and housing loans maintained double-digit growth, while credit-card outstanding growth decelerated.
July 31, 2026
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Biometric identification of protesters through alleged fingerprint-Aadhaar linkage was described alongside criminal-background profiling and database creation.
Biometric identification of protesters through fingerprints recovered from alleged stone-pelting evidence was publicly described as a proposed investigative method. A minister stated that fingerprints allegedly found on stones would be linked with Aadhaar numbers to identify participants and examine their prior records. The account also referred to analysis and categorisation of detained protesters' criminal backgrounds, creation of a separate database, and proposed action against participants described as anti-social elements or persons with criminal records.
July 31, 2026
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Offshore hydrocarbon exploration support funds high-risk deepwater drilling, shared infrastructure and data acquisition to strengthen domestic energy production.
The National Offshore Exploration Scheme provides public support for deepwater and ultra-deepwater oil and gas exploration, including seismic and offshore data acquisition, exploratory drilling in frontier basins, and common production and evacuation infrastructure. It addresses the high cost and geological uncertainty of offshore drilling and includes technology adoption, digital programme management, capacity building and collaboration measures. The scheme seeks to expand domestic hydrocarbon discoveries and production, attract investment across the exploration and production value chain, and reduce reliance on imported oil and gas.
July 31, 2026
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Foreign exchange reserves increased as foreign currency assets and gold holdings rose, alongside measures to attract forex inflows.
India's foreign exchange reserves increased during the reporting week, principally because foreign currency assets and gold reserves rose. Foreign currency assets, expressed in United States dollar terms, include valuation effects from movements in currencies such as the euro, pound and yen. Special Drawing Rights and the reserve position with the International Monetary Fund declined. Measures including the FCNR(B) measure were reported as efforts to attract foreign-exchange inflows following rupee pressure and dollar-sales intervention.
July 31, 2026
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Digital marketplace access for women's self-help group products expands e-commerce opportunities while panchayat-level citizen services are strengthened.
Digital marketplace access for women's self-help group products is proposed through a memorandum of understanding between CSC eStore and the Jharkhand State Livelihood Promotion Society. Products marketed under the 'Palash' and 'Adiva' brands are intended to be offered through an e-commerce network to widen market access, support rural women's income and entrepreneurship, and strengthen the rural economy. Digital panchayat services are also being expanded through Common Service Centres, including banking, e-governance and Aadhaar-related services.
July 31, 2026
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Agricultural export facilitation expands market access for late-season mangoes through farmer aggregation and direct global market linkages.
Agricultural export facilitation enabled an air shipment of late-season Neelam and Totapuri mangoes to an international market, expanding market access and extending the mango export season. Direct sourcing through a Farmer Producer Company supported organised aggregation, quality produce, and export-oriented supply chains. Direct procurement and export market linkages enabled participating farmers to realise higher returns than conventional market channels while promoting horticultural export diversification.
July 31, 2026
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Cross-border digital payment integration enables real-time Favara transfers from Maldives mobile banking applications to UPI-enabled accounts in India.
Cross-border digital payment integration between Favara and UPI enables individuals in the Maldives to make real-time person-to-person transfers to UPI-enabled bank accounts in India through mobile banking applications. Transfers are initiated in Maldivian Rufiyaa and credited in Indian Rupees. The initial service is available through participating Maldivian banks. Permitted remittances include family-maintenance transfers under foreign inward and outward remittance categories, and gift-related transfers under foreign outward remittance. Future phases are intended to introduce QR-based merchant payments and other digital payment services.
July 31, 2026
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Procedural Fair Hearing in competition inquiries requires notice when the Commission departs from investigative findings before imposing action.
Competition law procedure requires the Competition Commission to notify and hear an opposite party when departing from the Director General's findings. The penalty order concerning alleged abuse of dominance in viscose staple fibre supply was set aside because Grasim Industries was not given an opportunity to respond to the Commission's disagreement with the investigative findings. The matter was remanded for fresh, time-bound consideration without a finding on the merits.
July 31, 2026
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Manufacturing contraction highlights weak domestic demand, property-sector pressure and continued reliance on technology-related exports for economic growth.
Manufacturing activity in China contracted in July, as the official purchasing managers' index fell below the expansion threshold and new orders and production declined. Weak domestic demand, lower building activity and possible typhoon-related disruptions contributed to the slowdown. Consumer spending, investment and property-sector weakness continue to affect confidence, while technology-related exports support growth. Policy commitments include strengthening domestic consumption amid continued reliance on exports.
July 31, 2026
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Public-private partnership airport development strengthens aviation, cargo logistics, export infrastructure and sustainable connectivity through an integrated international airport project.
The Bhogapuram airport project is being implemented under a Public-Private Partnership through the Design, Build, Finance, Operate and Transfer framework. It has obtained required aerodrome, safety, fire and environmental clearances and includes infrastructure for domestic and international aviation, passenger processing and airport security. Cargo and cold-chain facilities are intended to support exports and logistics integration, while recycled-water use and LEED Platinum standards form part of the project's sustainability features.
July 31, 2026
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Rupee appreciation against the US dollar continued as foreign inflows and lower crude prices supported domestic currency markets.
Rupee appreciation against the US dollar continued in early trading, supported by foreign capital inflows and lower global crude oil prices. A stronger US dollar constrained further appreciation, while expectations of continued Reserve Bank of India intervention were cited as supporting the rupee. Declining Brent crude prices, gains in domestic equity indices and net foreign institutional investment in equities were also identified as relevant market factors.
July 31, 2026
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Value-added Makhana exports expand international market access, support quality compliance, and improve farmer returns through processing and branding.
Agricultural export facilitation supported the first sea shipment of value-added flavoured Makhana from Bihar to Canada. Processed and packaged to international quality and food-safety standards, the export demonstrates the role of processing, value addition and export-oriented manufacturing in expanding overseas market access. The initiative is stated to improve farmer returns through value addition, while capacity building, export infrastructure, quality compliance, market linkages and stakeholder collaboration support the agri-export ecosystem.
July 30, 2026
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Market access for Indian pharmaceuticals remains central to bilateral efforts to promote sustainable trade and economic cooperation.
Enhanced market access for Indian products, particularly pharmaceuticals, was raised in discussions aimed at strengthening bilateral trade and economic ties. The discussions addressed sustainable trade, and the sides agreed to increase mutual cooperation and communication. India continues to seek greater access to China's information technology, pharmaceutical and agricultural sectors, while pursuing increased pharmaceutical exports and Chinese investment. Bilateral trade increased, but India's trade deficit widened, reflecting an ongoing imbalance in trade flows.
July 30, 2026
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Money laundering asset attachment targets overseas bank deposits linked to alleged loan fraud and fugitive economic offenders.
Provisional attachment under the Prevention of Money Laundering Act was reported against Singapore bank deposits held by a company promoter and associated entities in an alleged loan-fraud and money-laundering investigation. The underlying case arises from allegations of fraud, criminal misappropriation, criminal breach of trust and cheating affecting a consortium of lending banks. Service of the attachment order was reported through mutual legal-assistance arrangements, and the promoters had reportedly been declared fugitive economic offenders.
July 30, 2026
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Deposit interest rate uniformity requires equal rates for similar deposits, while allowing risk-based differentiation for bulk deposits.
Banks must apply uniform deposit interest rates across branches and customers for similar deposit amounts accepted on the same date, without discrimination. Rates payable, including for bulk deposits, must strictly follow schedules disclosed in advance on bank websites. Bulk deposit rates must be published each business day at 10:00 am, subject to a short permitted delay. Differentiated bulk-deposit rates may be offered based on applicable differential run-off rates under the Liquidity Coverage Ratio framework.
July 30, 2026
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Supply-chain continuity measures prioritise energy, fertiliser and seafarer protection amid conflict-driven disruptions across critical maritime transit routes.
Supply-chain continuity and energy security measures were reviewed in response to geopolitical conflicts disrupting maritime transit routes and imports. Measures included diversification of LPG procurement, maintenance of petroleum stocks, expansion of PNG, gas-grid, LNG and city-gas infrastructure, and pipeline connectivity approvals. Fertiliser requirements and alternative procurement sources were considered to ensure uninterrupted supply. A unified monitoring mechanism and support arrangements for seafarers, including timely information, emergency assistance and counselling, were directed to protect citizens, economic interests and the Indian diaspora.
July 30, 2026
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Property digital identity framework proposed through comprehensive surveys, floor-level records, and unique cards to improve ownership verification.
The proposed Delhi Land Records Bill, 2026 contemplates a digital land-records framework requiring scientific surveys of every property, comprehensive authenticated digital records and a unique Property Aadhaar Card. The proposed system would cover rural and urban residential, commercial and other properties, including floor-level records for buildings. It is intended to improve ownership verification, property transactions, inheritance, loan access, building-plan approvals and transparency in land records.
July 30, 2026
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Supply-chain resilience amid maritime conflict drives measures to protect energy imports, fertiliser supplies, seafarers and overseas citizens.
Supply-chain continuity was reviewed in response to conflicts affecting maritime routes through the Strait of Hormuz, the Black Sea, the Red Sea and the Gulf of Aden. The concerns included disruptions to imports of petroleum, natural gas, fertilisers and other essential goods, risks to ships and seafarers, and the safety of Indian citizens in conflict areas. Measures were considered to maintain uninterrupted imports, protect economic interests and address constraints affecting critical energy and trade corridors.

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Corp. Laws, SEBI & IBC

MCA convenes ‘Tech for Professionals’ Workshop on Building India’s Digital Infrastructure for Professional Services

August 29, 2026

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Pallavi Jain Govil, Chief guest and Secretary, MCA emphasises strengthening India's domestic professional services ecosystem in the context of our development ambitions and increasing role of tech

Gyaneshwar Kumar Singh, DG & CEO, IICA highlights continuing work undertaken by MCA and IICA to strengthen domestic professional services ecosystem through technology

Rahul Jain, JS, MCA, says tech, shared digital resources, institutional mechanisms may enable professional services firms of different sizes to strengthen their capabilities

The Ministry of Corporate Affairs (MCA), with the support of the Indian Institute of Corporate Affairs (IICA), organised one-day “Tech for Professionals” Workshop – Building India’s Digital Infrastructure for Professional Services at the Dr. B.R. Ambedkar International Centre, New Delhi, on 27 August 2026.

Graced by the Secretary, Ministry Corporate Affairs, Dr. Pallavi Jain Govil as chief guest, the Workshop brought together policymakers, regulators, technology companies, professional services firms, Professional Institutes, Digital Public Infrastructure experts and academics to deliberate on how shared digital infrastructure can strengthen technology adoption, capability and competitiveness across India's professional services ecosystem.

The inaugural session commenced with a Welcome Address by Shri Gyaneshwar Kumar Singh, Director General & CEO, IICA, who outlined the background to the initiative and the continuing work being undertaken by MCA and IICA towards strengthening the domestic professional services ecosystem through technology enablement.

Delivering the Theme Address, Shri Rahul Jain, Joint Secretary, Ministry of Corporate Affairs, set the context for the Workshop and highlighted the need to examine how technology, shared digital resources and appropriate institutional mechanisms could enable professional services firms of different sizes to progressively strengthen their capabilities.

Dr. Pallavi Jain Govil, Secretary, Ministry of Corporate Affairs, delivering the Chief Guest address, emphasised the importance of strengthening India's domestic professional services ecosystem in the context of the country's broader development ambitions and the increasing role of technology in the delivery of audit, compliance, consulting and other professional services. She also appreciated the power of advocacy on shared digital public good infrastructure ideation foreeeeee traction for its beneficiaries.

The Workshop builds upon a series of consultations undertaken by MCA and IICA on strengthening India's domestic auditing and consulting ecosystem. As part of this process, MCA constituted a Sub-Committee on Digital Public Good in April 2026 to examine mechanisms for promoting technology adoption across Indian professional services.

The Sub-Committee submitted its report in May 2026, recommending a government-backed shared digital ecosystem aimed at addressing uneven access to advanced technology, professional knowledge and structured capability development.

The emerging DPG framework envisages three broad layers — curated technology access; learning and capability development; and knowledge and practice infrastructure. The proposition is intended to provide professional services firms, particularly small and medium practices, greater access to appropriate technology solutions, structured learning and professional knowledge resources without displacing existing institutional or market-based systems.

The first technical session, “DPG & Technology Infrastructure for Audit, Compliance & Consulting”, examined the purpose and possible contours of shared digital infrastructure for professional services, the gaps such infrastructure could address, and lessons from India's wider experience with Digital Public Infrastructure and comparable international initiatives.

The session was moderated by Shri Richard Rekhy, Vice Chairman, Grant Thornton Bharat. The panellists were Prof. R. Srinivasan, Professor & Chairperson, Centre for Digital Public Goods, IIM Bangalore; Shri T. Koshy, former MD & CEO, Open Network for Digital Commerce (ONDC); Shri Sai Venkateshwaran, former Board Member, KPMG in India; and Shri Vikas Kumar, Senior Partner & CEO, T R Chadha & Co LLP.

The second session, “Role of Technology Firms in DPG Initiative”, considered how technology companies could contribute to the design, development and deployment of shared digital infrastructure for the profession. Discussions covered cloud infrastructure, artificial intelligence, data analytics, cybersecurity, enterprise technology and possible models through which technology providers could participate in the initiative.

The session was moderated by Dr. Pankaj Dikshit, former CTO, Government e-Marketplace (GeM) and former CTO, GSTN. The panellists were Shri Rajesh Ranjan, India Lead, Core Government Affairs & Public Policy, Google; Ms. Sonali Kulkarni, Partner, Dailoqa; Shri Sunil Gupta, Co-Founder, MD & CEO, Yotta Data Services; and Shri Sandeep Welling, Managing Partner, Kirtane & Pandit.

The third technical session, “How India's SupTech Systems Can Adopt DPI/DPGs”, extended the discussion beyond professional firms to the digital systems through which businesses interact with regulators. The session examined whether elements of India's supervisory technology landscape could benefit from greater interoperability, common standards and reusable digital building blocks based on DPI and DPG principles.

The session was moderated by Dr. Nisheeth Srivastava, Professor, IIT Kanpur. The panellists were Ms. Savithri Parekh, Company Secretary & Compliance Officer, Reliance Industries; Shri Joseph Joshy C J, CGM & CTO, IFSCA; Shri Gaurav Marwaha, Chief Product Engineering Officer, ReBIT; and Shri Puneet Narang, MD & Country Head, DWS India.

The fourth session, “Tech Implementation Insights”, focused on the practical deployment of technology across professional services firms at different levels of digital readiness. The discussion considered technology solutions already available in the market, models for affordable access, implementation and change- management requirements, and the sequencing of technology adoption for small and medium practices.

The session was moderated by Dr. Pankaj Setia, Chair, Centre for Digital Transformation, IIM Ahmedabad. The panellists were Shri Eric Anklesaria, Senior Advisor, PSB Alliance; Shri V. Easwaran, Whole-Time Director & COO, Protean eGov Technologies; Shri Viswanathan Ravichandran, Partner, Deloitte South Asia; and Shri Sarthak Jain, Founder, Fast-India.

Concluding Thoughts on way forward of the initiative

The deliberations reflected broad recognition of the importance of improving access to technology and professional knowledge, strengthening digital capability among smaller firms, ensuring interoperability and security, and developing the initiative in a manner that remains responsive to firms at different stages of technological readiness. Participants also highlighted the importance of building on existing systems and capabilities rather than duplicating them, while retaining openness, competition and choice in the technology ecosystem.

The Workshop marked a further stage in MCA's ongoing consultations towards developing an enabling digital ecosystem for professional services and strengthening the ability of domestic firms to participate effectively in an increasingly technology-intensive professional environment.

At IICA, the initiative is being anchored by the School of Corporate Governance & Public Policy (SoCGPP), under the leadership of Dr. Niraj Gupta, Head, SoCGPP. The proceedings of the Workshop were anchored by Shri Mathew John, Chief Program Executive, Centre for Board Excellence & Leadership (C-BEL), IICA.

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