ED Attaches PACL Assets Worth ₹22,656 Cr Under PMLA in ₹48,000 Cr Ponzi Scheme

CBI Registers ₹1,816.22 Cr EPFO Investment Fraud Case Against Reliance Capital, Anil Ambani

The CBI has registered a major fraud case involving EPFO funds invested in Reliance Capital NCDs. This highlights issues of corporate governance, public sector investment safety, and regulatory oversight. For exams, focus on EPFO's investment norms, CBI's jurisdiction, and criminal provisions invoked.

FAST-DS 2026: Income Tax Dept Nudges Taxpayers to Disclose Foreign Assets by Dec 31

The Income Tax Department has begun emailing taxpayers who may hold undisclosed foreign assets, urging them to use the FAST-DS 2026 disclosure window (open till Dec 31, 2026). This one-time compliance scheme is crucial for small taxpayers like students, NRIs, and tech employees holding ESOPs or overseas accounts, with penalties up to ₹1 lakh or 30% tax plus additional tax.

CBDT Decriminalises Tax Defaults: Removes Arrest Provisions from Recovery Rules Under Finance Act 2026

The CBDT has removed arrest and detention provisions from tax recovery rules with retrospective effect from April 1, 2026, aligning with Budget 2026-27’s decriminalisation of technical defaults. Tax recovery will now rely solely on property attachment and sale, marking a shift from personal coercion to property-based measures.

Tata Trusts’ 66% Stake & Affirmative Voting Rights under Articles 104B, 121: SC Verdict Explained

Tata Trusts, holding about 66% of Tata Sons, are challenging the reappointment of N Chandrasekaran as executive chairman, citing the affirmative voting rights of their nominee directors under the Articles of Association. The Supreme Court’s 2021 Tata-Mistry judgment upheld these special rights, making it the key legal backdrop to the current boardroom dispute. For exams, this news tests corporate governance, fiduciary duties, and the binding force of a company’s Articles.

ICAI Reviews CA Curriculum to Integrate AI, ESG, Forensic Auditing; Launches AURA 2.0 and International Programme

ICAI is overhauling the CA curriculum to include AI, data analytics, ESG, and forensic auditing to keep pace with global technological shifts. It is also developing an international CA programme for countries like Mauritius, Nepal, and African nations, and launching advanced AI training for members and students.

Govt Proposes Gold Monetisation via Jewellers: 20,000 Tonne Idle Gold, Demat Deposits, Interest Income

The government is planning a new gold monetisation scheme where jewellers, not banks, will collect physical gold deposits from households, issue demat receipts, and pay interest. This aims to unlock over 20,000 tonnes of idle gold, improve India's trade balance, and reduce import dependence — a key reform for economic stability and current account management.

MoSPI Considers Diary-Based HCES for High-Income Households to Tackle 9.8% Urban Non-Response Rate

To counter rising non-response from affluent households in gated societies, MoSPI is piloting a 'diary-based' self-reporting method for the next Household Consumption Expenditure Survey (HCES) in 2027-28. This shift is critical because the HCES data directly impacts CPI basket weights, inflation targeting by RBI, and policy making, but raises concerns about data comparability due to differential recall errors between survey methods.

DGCA Orders One-Time Drug Test for All 14,000 Pilots by July 2027 under CAR

Following an Air India pilot testing positive for drugs after a Phuket-Delhi flight lost altitude, the DGCA has ordered a one-time drug test for all ~14,000 Indian airline pilots by July 2027, replacing the current random 10% annual testing. This marks a major regulatory tightening with potential UPSC prelims focus on DGCA functions and CAR provisions.