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    Bankers’ Books Evidence Act, 2026 to come into force from 1st October 2026
    BRICS calls for bigger emerging-market voice in IMF, World Bank; criticises unilateral tariffs
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    Bank employees observe strike in Jammu, demand 5-days banking week
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September 11, 2026
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Technology-neutral banking-record evidence framework standardises certification and limits non-party bank official summons to special-cause situations.
Bankers' Books Evidence Act, 2026 modernises the evidentiary framework for banking records and replaces the earlier legislation. It recognises records maintained in physical, electronic, digital, virtual, cloud-based, and other contemporary forms. Certification is simplified and standardised, including through manual, digital, or electronic signatures. Summoning a bank official where the bank is not a party requires special cause recorded in writing by the court. The framework may be extended to specified financial-sector entities or classes of entities.
September 11, 2026
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International financial governance reform promotes emerging-market representation, quota realignment, local-currency settlements, and interoperable cross-border payment cooperation.
BRICS supports reform of international financial governance to increase emerging-market and developing-economy representation in the IMF and World Bank through quota and voting realignment. It opposes unilateral tariffs and non-tariff measures that distort trade and conflict with WTO rules, while supporting a rules-based multilateral trading system. BRICS also promotes local-currency trade and investment settlements and interoperable cross-border payment mechanisms, without creating a common currency or unified payment system. Development-finance cooperation includes expanded local-currency financing, project preparation, private-capital mobilisation and a phased, member-driven investment platform.
September 11, 2026
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Rupee exchange-rate pressure persisted as global risk aversion and elevated crude prices outweighed supportive market factors.
Foreign-exchange market conditions kept the rupee under pressure against the US dollar amid global risk aversion and elevated crude oil prices. A correction in crude prices, recovery in domestic equities, and suspected Reserve Bank of India intervention helped the currency recover much of its intraday decline. Dollar strength, rising bond yields, geopolitical tensions, weak monsoon rainfall, and inflation concerns were identified as continuing factors affecting near-term currency sentiment.
September 11, 2026
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Five-day banking week demand drives coordinated bank employee strike action and planned escalation over unresolved employment conditions.
Bank employees affiliated with seven unions under the United Forum of Bank Unions undertook a one-day strike to press for implementation of a five-day banking week and resolution of pending employment-related demands. The unions maintained that the proposed workweek was a genuine working-condition measure rather than an attempt to reduce employee responsibilities. They proposed phased escalation, including a further multi-day strike and an indefinite strike, if the government and the Indian Banks' Association did not address the demands.
September 11, 2026
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Cross-border payment interoperability and local-currency trade are urged to deepen BRICS commerce, digital access, and supply-chain resilience.
BRICS members and partner countries are encouraged to link payment systems, expand local-currency trade settlement, and make digital trade globally accessible. Market-access priorities include opening goods and services markets, reducing non-tariff barriers, simplifying regulatory procedures, and facilitating faster consignment clearance. Proposed cooperation also addresses diversified supply chains, professional qualification recognition, agricultural technology, trade-finance access for micro, small and medium enterprises, digital trade documentation, and platforms for agricultural commodity trading and investment cooperation.
September 11, 2026
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Party disciplinary inquiry and money-laundering allegations prompt proposed internal resolution and consideration of lawful action after legal advice.
Internal party discipline concerning a clash between an elected representative and party workers is being addressed through an inquiry report, prior suspension of two workers, and efforts to secure an amicable resolution. Consideration of a corruption case arising from an Enforcement Directorate request for registration of an FIR is subject to legal advice and a decision on lawful governmental action. The request concerns alleged evidence gathered through investigation and searches under the Prevention of Money Laundering Act.
September 11, 2026
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Money laundering investigation into alleged bank-loan diversion examines forged project reports, mortgaged-property sales, and suspected proxy purchasers.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank-loan funds through fake or forged project-completion reports. The allegations include sale of five mortgaged properties at grossly undervalued consideration, with some buyers suspected to be benamis or proxies. These sales were allegedly intended to alienate assets and prevent their attachment under anti-money-laundering law.
September 11, 2026
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Five-day banking workweek demand drives nationwide strike, disrupting public-sector branch services while digital banking transactions remain operational.
Banking services at public sector banks were disrupted by a nationwide strike seeking a five-day workweek and resolution of wage-related demands. Branch operations affecting cash deposits, withdrawals, cheque clearance and administrative work were impacted, while digital banking channels remained functional. The central demand is declaration of all Saturdays as bank holidays, with other pending issues concerning pension updation, uniform dearness allowance for pensioners, and an option for National Pension System employees to move to the Old Pension Scheme.
September 11, 2026
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Maritime blockade and sanctions constrain oil exports but leave strait security, regional escalation, and energy-market disruption unresolved.
US-led maritime blockade and sanctions are assessed as substantially restricting Iran's oil exports while enabling increased non-Iranian petroleum flows through the Strait of Hormuz and alternative routes. The conflict continues to disrupt a major global oil-and-gas transit corridor despite partial restoration of shipping flows. Regional proxy attacks on oil facilities and shipping near the Bab el-Mandeb extend the disruption, threatening Red Sea and Suez Canal routes and contributing to higher energy prices and inflationary pressure.
September 11, 2026
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Foreign-exchange market pressure from oil costs and portfolio outflows weakens the rupee despite reserve support.
Rupee depreciation against the US dollar was attributed to elevated crude oil prices, rising global yields and net foreign portfolio equity outflows, which increased pressure through the import bill. Record foreign exchange reserves, active Reserve Bank market intervention and robust domestic growth provided countervailing support. Sustained costly crude oil and foreign portfolio outflows nevertheless remained the principal near-term pressures on currency stability.
September 10, 2026
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Five-day banking demand prompts nationwide bank-union strike, likely disrupting public-sector branch services and advancing unresolved pension demands.
Nationwide bank-union strike action is scheduled for 11 September to press for five-day banking and unresolved employee pension demands. Cash withdrawals, deposits and other branch operations at public-sector banks may be affected. Union demands include a five-day working week, improved pensions, a uniform dearness-allowance formula for pensioners, and an option for National Pension System employees to move to the old pension scheme. A further three-day nationwide strike has been threatened from 28 September.
September 10, 2026
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Biometric Aadhaar Authentication for GST Registration becomes mandatory to prevent fraudulent registrations using misused taxpayer identity credentials.
GST registration is impermissible without biometric-based Aadhaar authentication, addressing allegations of fraudulent registrations obtained through misuse of PAN and Aadhaar credentials. The requirement strengthens taxpayer identity verification in the GST registration process. Related issues include allegedly defamatory online posts, film release pending certification, sporting guidelines for women athletes returning after maternity, and the importance of an independent, ethical and fearless Bar to judicial independence.
September 10, 2026
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Gold-smuggling enforcement targets concealment methods, transit-route abuse, and airport-staff collusion through intelligence-led interception operations nationwide.
Intelligence-led customs enforcement against organised gold smuggling led to seizures of foreign-origin gold across airport, rail, road and Indo-Bangladesh border routes. Gold was concealed through melting, defacing, conversion into chains, dust or paste, and hiding in vehicles, baggage, machinery and body-worn articles. Seizures under the Customs Act, 1962 followed failures to produce documentation substantiating licit possession. The activity also identified transit passengers, airport staff, recipients and handlers involved in clandestine removal and movement of smuggled gold.
September 10, 2026
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Customer-focused digital vehicle financing introduces a paperless, automated journey for eligible existing and new banking customers.
Eligible existing and new-to-bank customers may access a simplified Auto and Two-Wheeler financing journey through a fully digital, end-to-end paperless process. Automated decisioning, straight-through processing, digital documentation and dealer integration are intended to enable application-to-disbursement within 30 minutes, reduce financing friction and accelerate access to vehicle finance. The broader initiative uses customer engagement and employee capability-building measures to convert customer feedback into faster action and improved service experiences.
September 10, 2026
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Global investing through regulated IFSC infrastructure enables digital access to international stocks, funds, onboarding, remittance support, and portfolio diversification.
Wizzmoni Financial Services Limited and Appreciate are integrating global-investing infrastructure into the Wizz Financial App. Retail and high-net-worth customers may access US-listed stocks, exchange-traded funds and Global Mutual Funds through a digital experience with onboarding, a single-KYC journey and multi-bank remittance support. International investing is routed through regulated GIFT City IFSC infrastructure and is positioned as a compliant pathway under the RBI's Liberalised Remittance Scheme framework, alongside existing foreign-exchange and cross-border payment services.
September 10, 2026
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Money laundering charge framing requires strong suspicion, not conclusive proof, where alleged abuse of office generated tainted property.
Money-laundering charges were ordered to be framed against nine accused on allegations that manipulation of a railway hotel lease tender enabled the transfer of undervalued land through DMCPL and subsequent share transfers to Rabri Devi and Tejashwi Yadav. The land was treated as alleged proceeds of crime arising from abuse of public office. At the charge-framing stage, strong suspicion, rather than conclusive proof of criminal intent, was sufficient. Documentary material concerning land transfers, company control, loans, shareholding changes and subsequent transfers supported the allegations.
September 10, 2026
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Financial-sector tokenisation and self-regulation are proposed alongside fiduciary data stewardship for next-generation digital finance services.
Financial-sector digitalisation is being advanced through proposed tokenisation of corporate bonds, digital public infrastructure for next-generation financial services, and recognition of an additional self-regulatory organisation. The Unified Lending Interface is identified as an example of such infrastructure. Trust is central to the financial system, and fintech entities are expected to treat data as a fiduciary responsibility rather than as a business asset. United Fintech Forum has received approval as the second self-regulatory organisation for the financial sector.
September 10, 2026
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MSME export readiness and sustainable GeM bidding depend on compliance, cost discipline, reliable delivery, and operational systems.
MSME export readiness requires consistent product quality, reliable delivery, documentation, regulatory compliance and operational systems capable of sustaining buyer trust. Digital trade processes require relevant registrations, including IEC and GST, and use of ICEGATE and DGFT systems. Free Trade Agreements may enable reduced or zero customs duties in specified markets, subject to applicable eligibility conditions and rules.
September 10, 2026
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Biometric Aadhaar authentication becomes mandatory for GST registration to prevent fraudulent use of stolen taxpayer identity credentials.
GST registration is prohibited, for the time being, unless biometric-based Aadhaar authentication is completed. The requirement applies across the country and addresses fraudulent registrations obtained through misuse of PAN and Aadhaar details. Biometric authentication is treated as necessary to curb fake registrations, revenue loss and harassment caused by identity misuse. Authorities may raise objections concerning practical difficulties in implementation.
September 10, 2026
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Family wealth protection platforms consolidate household asset records, nominee mapping and regulated data access to reduce unclaimed financial assets.
Safebox consolidates household financial information across assets, liabilities, insurance, critical records and family details, with nominee mapping for individual holdings. It is designed to help family members identify relevant information and access requirements during emergencies or transitions where financial holdings are dispersed across institutions and digital identities. The platform uses regulated financial infrastructure through integration with the Account Aggregator framework and operates through an entity registered as an Investment Adviser.

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India in Full Flow — The Decade of Demand

September 10, 2026

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AILBIEA's Silver Jubilee Knowledge Conference brings the GST Appellate Tribunal, senior Customs leadership, global suppliers and Capt. Raghu Raman to Mumbai on 11 September 2026 — headlined by a live, open-floor deliberation on EMI – AEO whose Outcome Document goes to CBIC
Mumbai, India: The All India Liquid Bulk Importers & Exporters Association (AILBIEA), the apex national body for India's liquid bulk trade, will host its Silver Jubilee Knowledge Conference on Friday, 11 September 2026, from 10:00 a.m. to 4:45 p.m., at The Regal Ballroom, Hotel Trident, Nariman Point, Mumbai – 21. Themed “India in Full Flow — The Decade of Demand”, the conference precedes the Silver Jubilee Evening, which commences at the muhurat of 6:21 p.m. in the same venue.


A working agenda, not a ceremonial one
The conference opens at 10:00 a.m. with the inauguration and the welcome address by Shri Jayyannt Lapsiaa, President, AILBIEA, followed by three masterclasses, each on a pressure point the trade is living with today:
• Geopolitics, Maritime Risk & the Liquid Bulk Supply Chain — Capt. Pankaj Kapoor, Quadraant Legal, on chokepoints, war-risk and sanctions exposure, and what the shifting map means for Indian cargo owners chartering tonnage.


• Dispute Preparedness in the GSTAT Era — Shri S. K. Rahman, IRS, Technical Member, GST Appellate Tribunal, on how importers and exporters should build and defend a matter in the new appellate architecture.


• Free Trade Agreements in Services — Dr. Joshua Ebenezer, Principal Consultant, NuCov Facili-Trade, opening the services chapters of India's FTAs: logistics, storage, testing and certification, surveying and chartering.


EMI – AEO – The Way Forward
The centrepiece of the morning has no speaker list and no prepared presentations. From 12:15 p.m. the floor opens to importers, exporters, terminal operators, customs brokers and surveyors to state plainly what is working in the Authorised Economic Operator framework, what is not, and what must change. Interventions will be captured live and consolidated into a formal Outcome Document for submission to the Central Board of Indirect Taxes and Customs, as India moves towards its AEO coverage targets for 2028. Themes include the trust-based framework, faceless examination, National E-Bond and Transfer of Ownership, Participating Government Agencies routing under SWIFT 2.0, and Customs Integrated Systems 2.0.


The afternoon: global suppliers, reform from the Department, and the flagship address
At 2:00 p.m., the Global Suppliers Panel, moderated by Shri Avinash Maheshwari of Geo-Chem Laboratories (Cotecna Group), brings the world's suppliers into candid conversation with India's buyers. It features Mr. Reece H. Cannady of the U.S. Grains & BioProducts Council, U.S.A.; Shri Vikash Sharma, Director, Godrej International Trading & Investment, Singapore; Mr. Indrajit Vishwanath of Abacus Chemie, U.A.E.; and Shri Ajay Aloni of Cellmark Asia. Across edible oils, grains, petrochemicals and solvents, they will address where demand is heading and how India is judged as a counterparty.


At 2:50 p.m., Shri Anupam Prakash, IRS, Joint Secretary (Customs), CBIC, will address Path Breaking Customs Reforms — the Department's own account of what has been delivered, what is under implementation, and the direction of travel for trade.


The conference culminates at 3:15 p.m. with the flagship address, “Leadership at 26,000 Feet”, by Capt. Raghu Raman, Founding Chief Executive Officer of NATGRID — on decision-making under pressure and leading when the margin for error is gone. The vote of thanks follows at 4:30 p.m.


Partners
Event Partners for the Silver Jubilee celebrations are Jawaharlal Nehru Port Authority (JNPA), Mumbai Port Authority, Deendayal Port Authority (Kandla) and Adani Ports & SEZ. The celebrations are supported by Godrej Industries Group, Aegis Vopak, Supreme Petrochem Ltd., VVF Limited, AWL Agri Business and Hindustan Unilever Limited. AGS 360, from Atlantic Global Shipping (AGS), is the Digital Partner for the Silver Jubilee celebrations, which will also mark its India launch — an integrated digital maritime information and intelligence application bringing port information, vessel tracking and port call estimates onto a single platform. Media Partners are Daily Shipping Times, EXIM and friends from the Logistics Media Ecosystem.


Shri Jayyannt Lapsiaa, President, AILBIEA, said: “We did not want a Silver Jubilee conference of speeches. We wanted a room where the trade says plainly what it needs, the Government hears it directly, and something leaves the room in writing. Twenty-five years have taught us that when industry and Government speak with trust, trade moves faster and the nation gains.”
The Silver Jubilee Evening follows, commencing at the muhurat of 6:21 p.m., with a special tribute to Mr. Nadir B. Godrej, Chairman Emeritus, Godrej Industries Ltd., and Mr. M. P. Taparia, Managing Director, Supreme Petrochem Ltd., and the presentation of the Silver Jubilee Commemorative Citations. The evening is strictly by invitation.


Register for the Knowledge Conference: https://forms.gle/u6vB6JTbCVE5VcJc9
Registration & Enquiries on WhatsApp: +91 98190 30311
RSVP & Media Contact — AILBIEA Secretariat | [email protected] | +91 22-6155 9910 / 6155 9999 | www.ailbiea.com
One Industry. One Voice. Twenty-Five Years of Excellence.


(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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