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September 23, 2026
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GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
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FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
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Export facilitation reforms integrate local support, digital trade intelligence, and streamlined Free Trade Agreement procedures to improve market access.
Export facilitation reforms contemplate integrated Commerce and Industry offices and trained local personnel to provide exporters with common access points and district-level handholding support. The Trade Connect platform is envisaged to provide product-wise and HSN-code-wise tariff, Free Trade Agreement and procedural information, supported by digital and AI-enabled tools. Reforms also address electronic verification of Certificates of Origin, integration across the export cycle, digitalisation, simplified trade documentation, reduced compliance burden, and adherence to international quality standards.
September 23, 2026
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Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 23, 2026
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Trade partnership frameworks seek diversified market access through proposed economic agreements, investment cooperation, stronger business linkages, and improved connectivity.
Trade and market-access cooperation is to be advanced through a proposed Comprehensive Economic Partnership Agreement with Chile, a proposed Free Trade Agreement with Peru, and expansion of the Preferential Trade Agreement with MERCOSUR. The frameworks seek mutually beneficial outcomes while respecting respective sensitivities and priorities. Diversified trade, investment and business partnerships are envisaged through stronger business-to-business linkages, improved connectivity and more predictable market access.
September 23, 2026
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September 23, 2026
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Comprehensive trade agreement negotiations between Canada and India are progressing, with both governments aiming to conclude discussions by the mid-December G20 summit. Formal negotiations commenced in March, accompanied by a broader commitment to complete the agreement by the end of 2026. The proposed arrangement forms part of renewed bilateral economic engagement and Canada's strategy to diversify trade relationships, strengthen market access and reduce dependence on a single market.
September 23, 2026
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Possible restrictions on diesel exports are being considered to address rising domestic diesel prices amid disruption to global refining capacity. Oil industry representatives oppose an export ban, contending that it could aggravate refinery-sector constraints and worsen supply conditions. They advocate increased supply and operational flexibility instead of new export restrictions, while farm-state senators support a diesel export ban.
September 22, 2026
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District-led economic development will align local resources, enterprise support and export promotion to strengthen regional economic opportunities.
The Uttar Pradesh Enabling District-Led Economic Growth project is proposed to convert district-specific resources into investment, employment, entrepreneurship and export opportunities. Its framework combines economic activity with stronger local administration and major investment proposals suited to local needs. Economic diversification is to expand manufacturing and services alongside agriculture, while local products are to receive improved design, packaging and access to global markets. Proposed measures also include enterprise development, women entrepreneurship, skills training, healthcare, agricultural processing and polyhouse development.
September 22, 2026
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Healthcare access integration enables local outpatient ticketing and appointment booking through banking correspondents, alongside employee banking and patient-support initiatives.
The partnership integrates SKIMS outpatient ticketing and appointment booking with J&K Bank's Banking Correspondent network on a six-month pilot basis, enabling local access for patients in rural and remote areas. J&K Bank serves as SKIMS's banking partner, offers customised employee banking benefits, supports hospital infrastructure through corporate social responsibility assistance, enables public contributions to the poor-patient endowment fund through a mobile application, and provides digital financial literacy and wealth-management programmes.
September 22, 2026
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Money-laundering searches prompt allegations of pressure on an urban development body and disruption of welfare delivery programmes.
Survey and search operations under the Prevention of Money Laundering Act covered 26 premises, including the Greater Mohali Area Development Authority office and the Principal Secretary for Housing and Urban Development. AAP alleged that the action was intended to create fear and pressure among government officers and impede welfare and development initiatives. It described GMADA as a revenue-generating authority whose resources support public welfare, urban infrastructure and planned development.
September 22, 2026
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Public recruitment money laundering allegations include payments, examination-paper access, and recruitment-rule changes allegedly facilitating selected candidates.
Money-laundering proceedings concerning alleged irregularities in public-service recruitment examinations include a prosecution complaint against the former CGPSC chairman and others. Allegations concern payments to facilitate selections, access to examination papers for candidates, and collection of consideration. A former examination official is alleged to have aided a recruitment-rule amendment removing "nephew" from the definition of family, allegedly facilitating selection of relatives. The investigation is linked to an economic-offences FIR, a CBI complaint and related chargesheets.
September 22, 2026
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Five-day banking demand drives a proposed nationwide bank strike after conciliation remains inconclusive during half-yearly closing.
Proposed nationwide three-day bank strike from 28-30 September 2026 follows an inconclusive conciliation meeting. The strike is linked principally to the demand for five-day banking, with reconsideration contingent on concrete and positive progress toward its implementation. Other demands cover pension upgradation, a uniform dearness allowance formula for pensioners, and an option for National Pension System-covered employees to switch to the old pension scheme.
September 22, 2026
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PMLA maintainability turns on whether a private complaint can initiate money-laundering proceedings without a predicate-offence FIR.
Maintainability of PMLA proceedings is contested where the alleged scheduled offence originates in a private complaint rather than an FIR. Respondents contend that a private complaint cannot form the basis for an Enforcement Case Information Report, money-laundering investigation, or prosecution, because the statutory framework recognises predicate-offence action through an FIR or a complaint by a person authorised to investigate.
September 22, 2026
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Related-party transaction disclosure and audit-report compliance proceedings conclude through settlement without admissions by five companies.
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September 22, 2026
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Social media publication of court-related affidavits in pending money-laundering proceedings must not displace submissions through judicial process.
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September 22, 2026
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Related-party transaction disclosure and auditor peer-review compliance failures were resolved through settlement without admissions by listed companies.
SEBI settled adjudication proceedings against five listed companies concerning alleged related-party transaction disclosure failures, corporate-governance compliance, and audit or limited-review reports signed without valid peer review certification. The companies sought settlement without admitting or denying the findings of fact or conclusions of law after a show-cause notice proposed inquiry and penalties. The settlement terms were recommended by the High Powered Advisory Committee, accepted by the Panel of Whole Time Members, and implemented upon receipt of the prescribed settlement amounts.
September 22, 2026
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Luxury wedding venture Aria Weddings integrates planning, production and storytelling to deliver bespoke celebrations across selected destinations.
Aria Weddings is launched by Bizspoke Pvt. Ltd. and Sol Production LLP as a luxury weddings and celebrations venture offering end-to-end planning, design and execution for personalised, experience-led celebrations across India and select international destinations. Its services cover concept development, experience and de cor design, entertainment, production, on-ground execution, photography, films and other visual content.
September 22, 2026
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Related-party transaction disclosure compliance resolves adjudication proceedings concerning alleged listing and audit peer-review certification violations.
SEBI settled adjudication proceedings involving five Adani group companies concerning alleged non-disclosure of certain related-party transactions under listing regulations and the erstwhile listing agreement. The settlement also covered audit or limited-review reports signed by audit firms without valid peer-review certificates, with the entities collectively paying Rs 1.50 crore under the settlement terms.
September 22, 2026
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Money-laundering enforcement includes searches of public-development and housing-administration offices as part of a PMLA investigation.
Enforcement Directorate searches at the Greater Mohali Area Development Authority and the office of Punjab's Principal Secretary for Housing and Urban Development form part of a PMLA investigation. The enforcement action is directed at institutional and official premises connected with public development and housing administration in Punjab, involving a development authority and a senior housing-administration office.

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Customs & Trade

Trump says US, Iranian officials met, shortly after warning he may 'annihilate' Iran

September 23, 2026

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United Nations, Sep 23 (AP) President Donald Trump said US and Iranian officials met Tuesday, an unexpected engagement that came even as he threatened in his address to the UN General Assembly that he may “annihilate” the Islamic Republic if a deal isn't reached soon to end the nearly seven-month war.

Trump told reporters that his chief envoys, Steve Witkoff and Jared Kushner, met with the Iranian officials on the sidelines of the annual gathering of world leaders but he offered few details about how the discussions transpired or the substance of the exchange.

“It was a very good meeting,” Trump said. The president later added that the Iranian officials were “not the highest level, but it's something.”

The engagement comes after months of US-Iran communications languishing following the collapse of a short-lived ceasefire that was brokered in June.

US and Iranian negotiators met separately with Qatari and Pakistani mediators in Doha in early July for indirect talks.

Earlier Tuesday, Secretary of State Marco Rubio said that Trump is open to meeting with Iran's president, Masoud Pezeshkian, while he's in New York for the General Assembly.

“This is a president that will meet with anybody for the most part, because he believes that engaging with people is important if you're going to solve problems,” Rubio said on NBC's “Today” show. “It doesn't mean you're going to end up agreeing with them, but it's important.”

Trump also met on Tuesday with leaders and senior officials from Gulf Cooperation Council nations - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates - as well as Jordan to discuss the way ahead with the war in Iran.

In his address to the General Assembly, Trump made the case that he's shown fortitude while other leaders have equivocated as he defended his decision to start a war with Iran.

But Trump also suggested that he could be at a crossroads in the conflict even as he called on the Islamic Republic to fully reopen the Strait of Hormuz and return to the negotiating table to find a settlement to end the conflict.

“I have a big decision to make,” Trump said. “Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before, maybe one of the greatest in the Middle East or even the world. Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?”

The president's comments came in his wide-ranging address to the international body in which he also celebrated this year's US military operation to oust Venezuelan President Nicolas Maduro from power, a new agreement to expand the US military presence in Greenland, and pushed back against calls for greater regulation of the artificial intelligence industry.

But at the heart of the address was a fulsome defence of the war and pushback on the notion that Iran has shown a measure of resilience.

“The terrorist regime is behaving badly, not because they are strong and confident, but because they are weak and desperate," Trump said.

Most of Iran's delegation walked out of the chamber as Trump railed against the Islamic Republic.

After his speech, Trump gathered with Danish Prime Minister Mette Frederiksen and Greenlandic Prime Minister Jens-Frederik Nielsen on the sidelines of the General Assembly to sign a new security agreement.

The deal, announced last week, came together after Trump repeatedly threatened to “take over” Greenland, a territory of NATO-ally Denmark, by military force if necessary.

Trump said Tuesday the US will immediately begin the process of developing a larger military presence in Greenland including “building two very major military bases”.

Under the deal, Greenland remains Denmark's territory.

Trump also held talks with new British Prime Minister Andy Burnham, Japanese Prime Minister Sanae Takaichi and Ukrainian President Volodymyr Zelenskyy.

He's expected to hold a more informal meeting on Tuesday evening with Venezuela's acting President Delcy Rodriguez, according to the White House.

Trump also took part in an event on the Shield of Americas, an initiative Trump launched with Latin American countries earlier this year focused on combatting violent cartels.

The visit to the UN comes as Trump's foreign policy approach - particularly his decision to start a war with Iran - has become a drag on his fellow Republicans' hopes of retaining control of both chambers of Congress during the coming midterm elections.

Nevertheless, Trump made the case in his speech that the world is better off for his leadership.

“I have no interest in leaving dangers to grow for another day," Trump said.

In last year's address at the UN, Trump claimed the US had “demolished” Iran's nuclear capabilities after he ordered the June 2025 bombardment of three key facilities.

He returned to the General Assembly nearing the seven-month mark of a new war against Iran that he insists is necessary to address a nuclear threat posed by Iran.

The war has grown more complicated even though strikes by the United States and Israel have killed much of Iran's top leadership and destroyed its air force and navy, while a US blockade of Iranian oil has left Tehran in economic shambles.

The energy market continues to be spooked by the war and oil prices remain elevated.

Saudi Arabia earlier this month shuttered a key pipeline that acted as a relief valve for oil blocked in the Gulf. The kingdom made the move after the pipeline came under attack by Iran-backed militants in Iraq.

At the same time, territorial grabs by the Yemen-based Houthi rebels, another Iranian-backed group, near the Bab al-Mandab Strait has now made it treacherous for oil carriers to use that Red Sea shipping lane.

In his address, the president also touched on Russia's continuing war against Ukraine - a conflict that during his 2024 campaign he predicted would be resolved on Day One of his second term. He once again expressed hope that the conflict will soon be resolved.

Trump hasn't obscured that his patience is being tested by Ukraine's targeting of Russia's diesel refineries - an issue that's added to the global oil markets' volatility - and Russia's targeting of Ukraine's energy grid.

Trump last week asserted that he got the two sides to agree to not target each other's energy infrastructure.

Zelenskyy had said he was willing to go along with Trump's plan if Russia abided by it. Russia said it could only go along with Trump's energy truce proposal if Western energy sanctions on Moscow were lifted first.

The two sides have continued carrying out strikes on refineries and other energy infrastructure.

Trump noted that last week he signed a new sanctions bill targeting Moscow. It empowers him to impose up to 100% tariffs on the top five importers of Russian oil or natural gas.

The legislation includes an exception for countries that import less than 15% of Russia's natural gas exports and have taken significant steps to reduce those imports. Trump, however, has yet to enact the stiff penalties.

“If necessary, I will have to use them,” Trump said. “It's time to stop the killing.” (AP) SCY

SCY

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