Saturday, September 19
The Enforcement Directorate (ED) on Wednesday carried out raids at over 35 premises and 50 companies linked to Anil Ambani's Reliance Group (RAAGA Companies) in connection with a money laundering probe related to the Yes Bank loan fraud case.The searches follow two FIRs registered by the CBI and inputs shared by agencies including SEBI, the National Housing Bank, Bank of Baroda, and the National Financial Reporting Authority (NFRA). According to the ED, preliminary investigations show that loans worth around Rs 3,000 crore, sanctioned by Yes Bank between 2017 and 2019, were allegedly diverted to shell firms and other group entities. Investigators have also found evidence suggesting possible bribery of Yes Bank officials, including its promoter. The agency flagged serious lapses in Yes Bank
India's landmark free trade pact with the UK will benefit it significantly as the deal will ensure elimination of tariffs on approximately 99 per cent of tariff lines, covering nearly 100 per cent of the trade value, people familiar with the matter said on Thursday.The free trade agreement (FTA) is also set to make it easier for British firms to export whisky, cars and other products to India besides boosting the overall trade basket.Agriculture and allied sectors stand out as a major beneficiary, with Indian farmers gaining market access for high-value products like vegetables, fruits, basmati rice, cereals, animal products, beverages, oil seeds, and dairy, the people said.The pact directly supports India's ambitious goal of achieving USD 100 billion in agri exports by 2030, they added.Th
Shares of Indian Energy Exchange (IEX) plunged 28% to Rs 135.26 on NSE on Thursday after the Central Electricity Regulatory Commission (CERC) formally approved the implementation of market coupling for India’s power sector.The regulatory development comes just hours ahead of IEX’s first-quarter earnings for FY26, heightening investor anxiety over the company’s near-term outlook.What CERC AnnouncedIn an order issued late Wednesday, the CERC said it would initiate market coupling in a phased manner, beginning with the Day-Ahead Market (DAM) by January 2026. This move follows extensive consultations with Grid-India and other power sector stakeholders.Market coupling is aimed at unifying price discovery by pooling bids from multiple power exchanges and clearing them centrally. The mechan
The India-UK Free Trade Agreement (FTA) will significantly improve market access and will boost bilateral trade by around $34 billion annually, the British government said on Thursday, hours before formalising the landmark deal.The FTA, billed as the UK's most economically significant bilateral trade deal since leaving the European Union, will be signed in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.The two prime ministers will also unveil an "UK-India Vision 2035" to take their partnership to new heights in a time of rapid global change.The UK said Indian consumers will benefit from improved access to the best British products -- from soft drinks and cosmetics to cars and medical devices -- as average tariffs will drop from 15 per cent to 3 per ce
