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.

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.

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.

United States economic growth slowed in the second quarter as increased imports reduced gross domestic product growth, despite stronger consumer spending and business investment linked to artificial intelligence. The preferred inflation measure moderated but remained above the central bank's target, with core consumer prices showing limited change. The benchmark interest rate was retained for a fifth consecutive meeting, though some regional presidents supported an increase to address elevated inflation. Employment growth and consumer spending continued to support economic resilience amid high living costs and energy-price pressures.

The notification amends the constitution of the Kerala Authority for Advance Ruling under the Kerala State Goods and Services Tax Act, 2017 and the Kerala Goods and Services Tax Rules, 2017. It substitutes the entry at Serial No. 1 of the earlier notification to appoint Sri. Jomy Jacob, Additional Commissioner of Central Tax, Thiruvananthapuram Zone, as a member of the Authority in place of the previously named member.

Gold prices rose on fresh buying by jewellers and retailers amid firm international trends, while silver prices declined. Improved domestic demand and a pullback in the US dollar supported gold, though a stronger rupee limited further gains. India's gold demand declined year-on-year during April-June, attributed to seasonally subdued sales, higher customs duty and an appeal to reduce purchases. Global gold demand remained broadly unchanged, while precious metals were expected to remain volatile and range-bound.

Schedule-II of the ITC (HS) 2022 Export Policy is amended with immediate effect to align its section notes, chapter notes, supplementary notes and tariff classifications with the Finance Act, 2026. The changes introduce, delete, split, merge and revise export-product entries across agricultural goods, chemicals, leather, metals, machinery, electronics and transport equipment, with most newly specified entries classified as free for export. Certain exports remain subject to specified policy conditions, including State Trading Enterprise requirements for zirconium ores and concentrates and No Objection Certificates for identified controlled chemical substances. Rayon-grade and other dissolving-grade chemical wood pulp are classified as prohibited exports.

The Master Circular consolidates and updates the regulatory framework for SEBI-registered merchant bankers, rescinding listed earlier circulars while preserving prior actions, rights, liabilities, penalties and pending applications. It requires portal-based registration and regulatory requests, prior approval for changes in control, and fresh registration for specified business transfers. It prescribes phased capital adequacy and liquid net worth compliance, professional certification, an independent compliance officer, and relevant experience for principal officers. Merchant bankers must submit half-yearly compliance reports, disclose issue track records and investor complaints, maintain investor charters, protect critical data, restrict outsourcing of core activities, manage conflicts of interest, and segregate non-SEBI-regulated activities through separate business units.

Bharat Maritime Insurance Pool has introduced a sovereign-backed Protection & Indemnity insurance product to cover third-party maritime liabilities, including crew and cargo claims, pollution liability and wreck removal. The product expands the pool beyond cargo and hull war-risk coverage and is supported by combined indemnity capacity and a port-correspondent network. The pool is intended to maintain uninterrupted maritime war-risk insurance, build domestic underwriting capacity, strengthen maritime risk management, reduce foreign-market dependence and promote self-reliance in specialised insurance solutions.

The Kerala Government amends the notification constituting the Kerala Authority for Advance Ruling under the Kerala State Goods and Services Tax Act, 2017. It substitutes the entries for two members, designating the Additional/Joint Commissioner in the Chief Commissioner's Office, Central Tax, Central Excise and Customs, Thiruvananthapuram Zone, and Shri. Mansur M I, Joint Commissioner, Taxpayer Services, Thiruvananthapuram. The amendment replaces the earlier specified member designations and postings.

Penal charges imposed by regulated banks and non-banking financial companies for breach of material loan terms are not consideration for tolerating an act and attract no GST. RBI-regulated Payment Aggregators qualify as acquiring banks for the limited card-payment settlement exemption, but Payment Gateway services are excluded. GST payments for specified past periods are regularized on an as is where is basis for Government-grant-funded research services, eligible skilling services, reverse-charge commercial renting involving composition taxpayers, and listed ancillary electricity transmission or distribution utility services.

Kerala State GST rate schedules are amended by substituting specified tariff classifications for entries concerning goods under heading 2202. The amendments revise classification codes in Schedule I, subject to 2.5% tax, and Schedule III, subject to 20% tax. The substitutions are made under the Kerala State Goods and Services Tax framework and are deemed effective from the notified effective date.

Digital banking transformation through a cloud-native software-as-a-service platform entails migration from legacy systems to integrated deposits, lending, virtual account management and liquidity-management capabilities. Real-time data, artificial intelligence foundations, open APIs and event-driven architecture are intended to support digital banking products, corporate cash management and operational agility. Liquidity tools are designed to provide visibility and control over cash positions and working capital. The implementation is intended to deliver scalability, resilience, security and high availability while assisting regulatory compliance; projected benefits remain subject to risks and uncertainties.

Kerala State GST rate schedules are amended to place biris in the 9% schedule. Pan masala, specified tobacco and tobacco-substitute products, and specified non-combustible inhalation products containing tobacco, reconstituted tobacco, or nicotine substitutes are placed in the 20% schedule. The 14% schedule and related entries are omitted. The amendments are deemed effective from 1 February 2026.

Workplace culture recognition was awarded to Kotak Securities through Great Place to Work Certification for a second consecutive year and inclusion among India's Best Workplaces in Investments 2026. The recognition followed assessment of employee feedback, workplace practices and organisational culture, reflecting employee trust, engagement and belonging. The company states that it will continue initiatives supporting employee wellbeing, learning and development, inclusion, collaboration and growth.

Pepper of the genus Piper is classified under HS 0904 and attracts 5% GST, while agriculturists supplying dried pepper or raisins from cultivation are exempt where not liable for registration. Salted and spiced ready-to-eat popcorn is treated as namkeen, with GST dependent on pre-packaged and labelled supply; sugar-mixed popcorn is sugar confectionery. AAC blocks containing more than 50% fly ash fall under HS 6815 and attract 12% GST. The amended compensation cess criteria for specified utility vehicles apply from 26 July 2023.

Merchant bankers must use the SEBI Intermediary Portal for registration-related applications and periodic reporting, maintain prescribed capital adequacy and liquid net worth, and obtain required professional certifications. They must submit board-reviewed, compliance-certified half-yearly reports, disclose public-issue track records, Investor Charters and complaint data, and follow investor grievance procedures. Core merchant-banking activities and compliance functions cannot be outsourced; permitted outsourcing remains subject to board oversight, due diligence, written controls, confidentiality and continuing merchant banker accountability. Non-regulated activities require arm's-length separate business units, information barriers and stakeholder disclosures.

Jurisdiction-wise proper officer and authorised officer functions under the Rajasthan Goods and Services Tax Act, 2017 are assigned with immediate effect, subject to territorial jurisdiction, specified State-wide authority, prior approvals and pecuniary limits. The assignments cover registration, cancellation and revocation, assessment, audit, inspection, search, seizure, tax determination, recovery, penalties, detention, confiscation, information collection and e-way bill interception. Tax-determination cases above the prescribed monetary threshold must be transferred to the concerned Additional Commissioner, while enforcement-investigated cases are transferred to jurisdictional officers for notices, adjudication and further proceedings.

Common directorship or an associate relationship does not by itself establish a related-person transaction for central excise valuation. Related-person status requires evidence of mutuality of interest in each other's business, while rejection of declared transaction value also requires proof of flow back or additional consideration affecting price. In the absence of shareholding, subsidiary, professional or other qualifying relationship, and without evidence of extra-commercial consideration in the sale of semi-finished pipes, the Department could not displace valuation under Section 4(1)(a) or invoke Section 4(1)(b) read with Rule 6(b)(ii). The declared sale basis therefore remained applicable.

Speculative loss on commodity transactions cannot be disallowed as bogus merely because an FMC report identifies artificial trading practices by other members or clients. The report may warrant further investigation, but disallowance requires assessee-specific evidence that trades were non-genuine. The Revenue neither verified contract notes and trading data with the exchange nor investigated counterparties, and the remand report found no bogus or accommodation entries involving the assessee or its broker. A broker's penalty for an unrelated trade was not probative. The speculative loss was therefore allowable and the disallowance unsustainable.