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    India-New Zealand FTA to Enter into Force from 20 October 2026
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September 22, 2026
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Tariff liberalisation under the India-New Zealand FTA grants Indian exports duty-free access while protecting sensitive agricultural products.
From 20 October 2026, the India-New Zealand Free Trade Agreement applies duty-free treatment to all tariff lines covering Indian exports to New Zealand, while preserving exclusions for sensitive Indian agricultural products. Market access for New Zealand apples, kiwifruit, and Manuka honey remains subject to tariff rate quotas, minimum import prices, seasonal windows, and safeguards. Services commitments, mobility routes, investment facilitation, agricultural cooperation, and recognition of specified international inspection approvals form further components.
September 21, 2026
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Airport smuggling enforcement targets concealed ganja and gold, leading to passenger interceptions and arrests under customs law.
Customs enforcement at Bengaluru airport involved interception and arrest of passengers allegedly attempting to smuggle hydroponic ganja and gold by concealing the goods in cabin baggage, other baggage, undergarments, or on the body. Cases involved arrivals from Vietnam, Bangkok, Kuala Lumpur, and Abu Dhabi. The Abu Dhabi gold-ornament case involved an arrest under the Customs Act.
September 21, 2026
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Rules of origin prevent third-country transshipment from receiving preferential tariffs under bilateral trade arrangements between partner economies.
India-New Zealand free trade preferences apply only to goods satisfying Rules of Origin. Third-country goods routed through New Zealand cannot receive preferential Indian tariff treatment, as bilateral cumulation is confined to originating materials and goods of India and New Zealand. Sensitive sectors receive no duty concessions, while a bilateral safeguard mechanism addresses sudden import surges after duty elimination or reduction. Temporary Employment Entry, student mobility commitments, post-study work opportunities, and exemption from directly funded social-security contributions for temporary Indian residents form part of the services framework.
September 21, 2026
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Banking service continuity is prioritised through dialogue as employee welfare measures and wage negotiations address outstanding demands.
Banking-sector industrial relations are addressed through an appeal to bank employees to avoid strike action and pursue outstanding demands through dialogue, in order to keep banking services uninterrupted. Most union concerns are considered substantially addressed, while a remaining demand continues to be examined. The demand for withdrawal of the Performance Linked Incentive scheme had been addressed by placing that scheme in abeyance following detailed discussions. Employee welfare measures, wage revisions, and negotiations for the forthcoming Bipartite Settlement are intended to support workforce welfare and banking-sector efficiency.
September 21, 2026
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Money-laundering investigation addresses alleged use of a middleman to demand, receive, move and conceal corruption proceeds.
Money-laundering proceedings were initiated from corruption FIRs alleging that a middleman was used to demand and receive illegal gratification. Investigation concerns the alleged facilitation of receipt and movement of funds, supported by searches yielding cash seizure and freezing of financial accounts. Financial records and digital devices allegedly indicated unexplained deposits, investments, transactions involving the officer, and possible involvement of other public servants. The inquiry is tracing alleged proceeds of crime and the role of associated persons and entities.
September 21, 2026
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FCNR(B) foreign-currency deposits use a swap facility to mobilise non-resident funds without direct rupee exchange-rate risk.
RBI's special USD-INR foreign-exchange swap facility mobilised foreign-currency inflows through FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings. The FCNR(B) deposit window closed on 31 August 2026 after its mobilisation objective was achieved, while the facility remained available for the other two channels until 31 December 2026. FCNR(B) collections were revised upward to approximately USD 133 billion. Such deposits are fixed-term foreign-currency deposits with principal and interest repayable in the same currency, avoiding direct rupee exchange-rate risk for non-resident depositors.
September 21, 2026
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GST bribery investigation concerns alleged illegal gratification sought to resolve quarry firm's tax and royalty proceedings.
GST-related corruption allegations concern an alleged demand for illegal gratification from a stone-quarrying firm to resolve GST and royalty proceedings. A Customs House Agent was apprehended in a trap operation while allegedly accepting the negotiated amount on behalf of a CGST Superintendent and an Additional Commissioner. Custody proceedings involved written communication of arrest grounds and intimation to relevant family members and advocates.
September 21, 2026
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Rural infrastructure financing supports irrigation, roads, water supply, warehousing and micro-irrigation through structured lending and implementation oversight.
Haryana's 2026-27 rural infrastructure financing plan comprises six proposals for irrigation, roads, drinking-water supply and warehousing, with loan assistance proposed under the Rural Infrastructure Development Fund. Infrastructure Development Assistance has been sanctioned for the India International Horticulture Market, while further micro-irrigation proposals have been recommended under the Micro Irrigation Fund. Implementation oversight emphasises faster project execution and timely drawal claims, alongside borrowing approval and prospective support for water security, groundwater recharge, efficient irrigation and treated-wastewater reuse.
September 21, 2026
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Money laundering allegations in illegal cricket betting prompted investigative custody and examination of suspected routing of betting proceeds.
Money-laundering investigation into an organised illegal cricket-betting syndicate concerns the alleged use of online platforms, encrypted messaging channels, and a principal bookie to solicit, accept, and settle bets. Betting-derived funds were allegedly routed through a partnership firm represented as non-operational, whose account recorded substantial corresponding credits and debits. Property and vehicle records, digital data, and statements under the PMLA are relied upon to allege the acquisition, possession, use, transfer, and projection of proceeds of crime as untainted property.
September 21, 2026
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Money laundering allegations concern foreign portfolio investments, alleged share-price manipulation, attachment, and proposed confiscation of betting proceeds.
PMLA proceedings name Nishant Pitti in relation to allegations that proceeds from illegal online betting were introduced into Indian equity markets as foreign portfolio investments. The allegations attribute to him a role in facilitating and layering such proceeds through pre-arranged share-price manipulation involving Easy Trip Planners Ltd. Property action includes provisional attachment of his DEMAT shares, described as proceeds of crime, and a request for confiscation.
September 21, 2026
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National accounts modernisation adopts updated data sources, revised sector methods, and proportional Denton benchmarking for improved GDP estimates.
National Accounts Statistics in the new series use base year 2022-23, replacing the 2011-12 series. The series was updated to reflect changes flowing from the new Producer Price Index and Index of Industrial Production series. Methodological modernization expands corporate and financial-sector data coverage, refines general-government treatment, and adopts direct household-sector estimation from the Annual Survey of Unincorporated Sector Enterprises and the Periodic Labour Force Survey. Private Final Consumption Expenditure adopts COICOP 2018, while Quarterly National Accounts use the Proportional Denton approach and greater Goods and Services Tax and administrative-data use.
September 21, 2026
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Electoral roll verification requires unmapped voters to establish linkage or submit prescribed documents before final enrolment.
Special Intensive Revision of Nagaland's electoral roll applies a mapping and verification process by reference to the 2005 electoral roll. Electors recorded under no-mapping or mapping-anomaly categories, including persons unable to establish linkage to an elector in the 2005 roll, are to receive notices from Electoral Registration Officers or Assistant Electoral Registration Officers. They must furnish prescribed supporting documents, calibrated to their date or year of birth, for verification. Non-registration in the 2005 roll does not itself cause automatic exclusion.
September 21, 2026
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Trade pact negotiations and Russian energy tariffs shape market-access commitments and potential import-duty exposure for exporters.
India and Canada have accelerated negotiations for a Comprehensive Economic Partnership Agreement to establish a bilateral trade framework for goods and services. A United States law concerning sanctions on Russia and Iran authorises tariffs of up to 100 per cent on imports from leading purchasers of Russian crude oil or natural gas, creating potential tariff exposure for Indian exports. The India-European Union trade pact contemplates immediate duty elimination on 90 per cent of Indian goods and phased elimination on a further three per cent over seven years, subject to ratification.
September 21, 2026
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Semiconductor ecosystem policy requires predictable regulation, integrated clusters, and coordinated support to convert domestic demand into local value creation.
Semiconductor ecosystem development in India is centred on converting expanding domestic demand into local manufacturing, innovation and supply-chain resilience. A predictable fiscal and regulatory environment, alignment of central and state semiconductor policies, integrated manufacturing clusters and talent-certification programmes are important to project viability and commercialisation. Advanced packaging, compound semiconductors, photonics and chip-to-system integration offer high-potential areas, requiring policy certainty, streamlined approvals and long-term support for research, talent and supplier development.
September 21, 2026
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Legal and NPA advisory services receive recognition for social welfare, women's employment, legal awareness, and financial dispute-resolution work.
Felicitation of Advocate V. K. Dubey recognised his stated work in women's employment, public welfare, banking, NPA resolution, legal awareness, and social service. His profile encompasses civil, criminal, non-performing asset, banking, corporate, and settlement matters; leadership of bodies engaged in financial-dispute resolution; and legal assistance and public awareness intended to improve access to justice for marginalised persons. Associated initiatives include education and support for disadvantaged communities and wider social empowerment.
September 21, 2026
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Rupee appreciation reflected lower crude oil prices, stronger domestic equities, and improved risk sentiment amid diplomatic expectations.
Rupee appreciation against the US dollar followed lower crude oil prices, improved global risk sentiment, positive domestic equity markets, and softer US Treasury yields. Dollar index strength, geopolitical developments, and possible increases in oil supplies remained relevant to currency movements. Market commentary anticipated a slight positive rupee bias if crude oil prices continued to ease, while renewed geopolitical tensions could weaken risk sentiment. Net foreign institutional investment and a decline in foreign exchange reserves also formed part of the market context.
September 21, 2026
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Reciprocal tariffs and AI incident notifications frame bilateral talks on trade, security, technology and arms sales.
US sanctions legislation authorises the President to impose tariffs, including up to 100 per cent, on countries purchasing Russian oil and gas. China rejects tariffs directed at its Russian energy purchases and opposes unilateral sanctions and long-arm jurisdiction absent an international-law basis or a UN Security Council mandate. Washington and Beijing are also negotiating a reciprocal tariff-reduction framework covering products from both sides.
September 21, 2026
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Gold recycling and financialisation can reduce import dependence by mobilising household holdings through exchange, credit and non-physical investment.
Organised gold recycling, responsible sourcing, gold loans and financialised gold products are identified as ways to reduce reliance on fresh gold imports. Exchanging old jewellery can meet retail demand from existing domestic holdings, while gold loans unlock credit without requiring households to sell their gold. Gold ETFs and digital gold permit exposure to gold's value without physical possession and may reduce physical import demand. Transparency, trust and supporting infrastructure are necessary to integrate household gold into an organised formal economy.
September 21, 2026
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Tribunal infrastructure and member vacancies: amenities assessment and bench-level data collection address reduced sittings across company-law benches.
The Supreme Court required the Central Government urgently to identify, in consultation with the Tribunal President, infrastructural amenities needed by tribunal benches. The Principal Bench Bar Association was required to compile tabulated infrastructure data for every regional bench. At least 18 benches were asserted to conduct half-day sittings because of member shortages, against a sanctioned complement that remained unchanged despite expanded insolvency jurisdiction.
September 21, 2026
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Duty-free access for Indian exports under the India-New Zealand trade agreement begins with its entry into force.
The India-New Zealand Free Trade Agreement will grant duty-free access in New Zealand to all Indian exports, displacing existing peak tariffs on products such as ceramics, carpets, automobiles, and auto components. Scheduled to enter into force on 20 October 2026, the agreement also includes New Zealand's long-term investment commitment in India.

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PMLA / Black Money

CGPSC scam: ED alleges Rs 45 lakh 'CSR' payment to ex-CGPSC chief for favouring businessman's kin

September 23, 2026

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Raipur, Sep 23 (PTI) The ED has claimed that arrested former Chhattisgarh Public Service Commission (CGPSC) chairman Taman Singh Sonwani received Rs 45 lakh through an institution controlled by him in return for favouring a businessman's son and daughter-in-law in the 2021 state service examination.

The money he received was shown as corporate social responsibility (CSR) funding, it said, adding that the total proceeds of crime in this case is quantified so far to the tune of Rs 3.28 crore.

The federal agency filed its first prosecution complaint before a special court in Raipur in connection with the alleged irregularities and corruption in the CGPSC examination scam during the previous Congress government in the state.

Seven accused -- Sonwani; Director of Shri Bajrang Power and Ispat Ltd Shravan Goyal; the then CGPSC Deputy Controller (Examination) Lalit Ganvir; Utkarsh Chandrakar, his brother-in-law Anil Chandrakar, medical officer Dr Vikas Chandrakar, and Additional Collector Chetan Borghariya were named as accused in the prosecution complaint.

Utkarsh Chandrakar is the nephew of K K Chandravanshi, a former personal assistant to the then Chief Minister Bhupesh Baghel, while Borghariya was an Officer on Special Duty in the then chief minister's office and is presently an Additional Collector in Balrampur-Ramanujganj.

The Enforcement Directorate (ED) claimed that money generated through alleged corrupt examination arrangements was received through Gramin Vikas Samiti (GVS) as CSR funding and that money collected from candidates was subsequently possessed, used, transferred or projected as legitimate transactions.

Sonwani, who headed the CGPSC from 2020 to 2023, was arrested by the ED in July in connection with its money laundering investigation into alleged corruption, question paper leaks and manipulation of examinations conducted by the commission in 2020 and 2021 for recruitment to posts, including deputy collector and deputy superintendent of police.

Earlier this month, the ED arrested Borghariya and Utkarsh Chandrakar.

The money laundering probe stems from an FIR registered by the Chhattisgarh Economic Offences Wing (EOW), another FIR lodged by the state police in Balod district and a subsequent complaint filed by the CBI in 2024. The CBI filed a chargesheet and two supplementary chargesheets in 2025, and Sonwani was also arrested by the central agency in 2024.

According to the ED, the proceeds of crime identified in the case originated through two separate streams.

The first related to alleged manipulation of the CGPSC State Service Examination in which Sonwani, as chairman, had a role in the custody and availability of question papers and the examination process.

The ED alleged that in consideration of favour shown to the son and daughter-in-law of businessman Shravan Kumar Goyal, Gramin Vikas Samiti (GVS), an institution controlled by Sonwani, received Rs 45 lakh from Shri Bajrang Power and Ispat Ltd through its CSR mechanism. The agency said the payment was made in two instalments of Rs 20 lakh and Rs 25 lakh and was projected as legitimate institutional funding.

It said that Sonwani's position as CGPSC chairman, his directions concerning applications made in the name of GVS, his management of the institution and approvals obtained on those applications established his alleged knowing acquisition, possession and use of the money.

The complaint said Goyal's son Shashank Goyal and daughter-in-law Bhumika Katiyar were selected at ranks three and four respectively. It also referred to the selection of Sonwani's nephews Nitesh Sonwani and Sahil Sonwani as deputy collector and deputy superintendent of police, and his nieces-in-law Misha Kosle and Deepa Adil as deputy collector and district excise officer.

The agency has also attributed a role to CGPSC Deputy Controller of Examinations Lalit Ganvir, claiming he held the post from December 2020 while simultaneously serving as treasurer of GVS and as a joint authorised signatory of its Bank of Maharashtra account.

The ED claimed the second stream involved collection of money from candidates and their families on the promise that examination papers would be provided in advance and selections secured.

The agency quantified this collection at Rs 3.13 crore. The total proceeds of crime identified so far have been quantified at Rs 3.28 crore -- Rs 45 lakh in the first stream and Rs 3.13 crore collected from candidates in the second, the agency said.

The ED clarified that cash deposits of Rs 72.18 lakh in Utkarsh Chandrakar's bank account represented placement of part of the Rs 3.13 crore and were not additional proceeds. It also treated Rs 69.85 lakh deposited in Borghariya's accounts as proceeds of crime in his possession.

The agency said the investigation suggested that candidates were allegedly offered access to examination papers and selection for payments ranging from Rs 50 lakh to Rs 60 lakh per candidate.

Dr Vikas Chandrakar allegedly acted as a recruiter and aggregator, approaching candidates and their families and collecting money. Statements recorded by the ED described payments carried by him to Anil Chandrakar and Utkarsh Chandrakar, with an approximate figure of Rs 3.20 crore, including amounts he allegedly borrowed where candidates had not paid the full amount, it said.

The ED also cited bank transactions as evidence of the movement of money, including transfers of Rs 9.90 lakh on April 8, 2022 and Rs 5.10 lakh on April 11, 2022 from Anil Chandrakar's bank account to Utkarsh Chandrakar. PTI TKP NP

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