CBDT Unveils 'NUDGE' Campaign: A Push for Voluntary Tax Compliance
The Central Board of Direct Taxes (CBDT) launched a new taxpayer outreach campaign named 'NUDGE', short for Non-intrusive Usage of Data to Guide and Enable, to encourage voluntary compliance in income tax reporting. This campaign specifically urges individuals to review and revise their income tax returns (ITRs), especially focusing on Schedule FA (Foreign Assets) and Foreign Source Income (FSI) disclosures.
The move comes amid heightened global scrutiny on cross-border transactions and foreign asset reporting, aligning India with international standards of financial transparency.
The NUDGE campaign, starting immediately, is a data-backed, non-intrusive compliance initiative that will leverage pre-identified information to remind taxpayers of potential mismatches or omissions in their filed returns. The CBDT will reach out to taxpayers via SMS and email alerts, urging them to voluntarily verify, revise, or correct their returns by the end of the following month.
PUMA Appoints Ramprasad Sridharan as New Managing Director for India
PUMA, one of the world's leading sportswear brands, announced the appointment of Ramprasad Sridharan as the new Managing Director for its India operations, effective December 2025. With this leadership transition, PUMA aims to strengthen its market position and accelerate brand and digital transformation across India.
Sridharan will report directly to Matthias Bäumer, PUMA's Chief Commercial Officer. He succeeds Karthik Balagopalan, who stepped down to pursue new opportunities outside the company.
Ramprasad Sridharan brings with him over 25 years of experience in the retail and brand management sector. Known for his sharp strategic acumen and growth-focused leadership, he has held high-impact roles across Asia Pacific.
Nov 27, 2025
BHIM Launches Full Delegation Feature for UPI Circle to Net more Users
The NPCI BHIM Services Limited (NBSL) announced the introduction of UPI Circle Full Delegation on the BHIM Payments App, allowing primary users to authorise their trusted contacts to make UPI payments on their behalf of up to Rs. 15,000. The move is expected to be a game-changer for senior citizens who have their own bank accounts but often hesitate from making digital payments and young adults who can manage their daily or educational expenses with safe, parent-controlled access.
With UPI Circle Full Delegation, a primary user can authorise a secondary user to start and complete UPI payments directly from the primary user's account. The primary user can set a monthly spending limit of up to Rs. 15,000 and choose an expiry duration of up to 5 years.
PM Inaugurates First Global Aircraft Engine MRO Facility in Hyderabad
Prime Minister Narendra Modi inaugurated India's first global-level aircraft engine Maintenance, Repair, and Overhaul (MRO) facility in Hyderabad. Developed by Safran, a French aerospace giant, the facility — known as Safran Aircraft Engine Services India (SAESI) — marks a significant milestone in India's aviation sector.
SAESI has been established with an initial investment of Rs. 1,300 crore, located in the GMR Aerospace and Industrial Park – SEZ near Rajiv Gandhi International Airport.
The facility will cater to LEAP engines — the world's most widely used aircraft engines powering Airbus A320neo and Boeing 737 MAX. This is the first time a global engine OEM has set up deep-level servicing in India.
SEBI Proposes Changes to Basic Services Demat Accounts Norms
In a move to fine-tune regulations that promote retail investor participation in India's capital markets, the Securities and Exchange Board of India (SEBI) proposed a key revision to the framework governing Basic Services Demat Accounts (BSDA). In a draft circular released, SEBI suggested that zero-coupon, zero-principal (ZCZP) bonds should be excluded from the valuation of securities used to determine BSDA eligibility. This development comes as part of a broader review of BSDA norms, aimed at aligning the eligibility criteria with the evolving nature of financial instruments and improving the focus on genuine small investors.
A Basic Services Demat Account (BSDA) is a simplified demat account facility introduced by SEBI in 2012. It is designed to reduce the cost burden on small and first-time investors by capping annual maintenance charges based on the value of securities held.
Nov 26, 2025
Government Appoints New Executive Directors in Multiple Banks
In a significant move, the Government of India appointed five new Executive Directors (EDs) across leading Public Sector Banks (PSBs) to strengthen the management and operational leadership. The appointments took effect on November 24, 2025, and each is set for a three-year tenure.
Sunil Kumar Chugh previously Chief General Manager (CGM) at Punjab National Bank, Chugh was appointed as ED at Canara Bank. He brings a wealth of experience in banking operations, compliance, and financial management.
Amresh Prasad also a CGM at Punjab National Bank, Prasad will now serve as ED at Union Bank of India, enhancing the leadership bench at one of India's key state-run banks.
Prabhat Kiran who was serving as CGM in Canara Bank, has been elevated to Executive Director at Bank of Maharashtra, bringing deep insight from his previous roles in credit and corporate banking.
Mini TM, CGM at Bank of Baroda, has been appointed as ED at Indian Bank. With decades of experience in branch operations and retail banking, she is expected to add value to Indian Bank's transformation strategy.
Amit Kumar Srivastava, who was the Group Chief Risk Officer at PNB, has now been promoted as Executive Director in the same bank. His background in risk and compliance aligns well with the growing importance of prudent risk governance in banking.
AU Small Finance Bank Strengthens Board with 2 New Independent Directors
AU Small Finance Bank strengthened its board with the appointment of two new independent directors and the reappointment of an existing one.
The bank appointed N. S. Venkatesh and Satyajit Dwivedi as non-executive independent directors for a three-year term, and reappointed Malini Thadani for a second three-year term, subject to shareholder approval.
Venkatesh, a chartered accountant with over four decades of experience, has held leadership roles at IDBI, the Association of Mutual Funds in India (AMFI) and Lakshmi Vilas Bank. Dwivedi brings more than 35 years of experience in development finance, agriculture, microfinance and rural banking. He has held senior roles at NABARD, Nabkisan Finance and the National Centre for Financial Education.
Nov 25, 2025
India & Afghanistan Hold Talks to Deepen Cooperation in Textile Sector
A high level delegation of India and Afghanistan discussed to explore avenues for deeper economic engagement in the textile sector. Ministry of Textiles said that a high-level delegation from Afghanistan, led by Director General of Economic Relations, Shafiullah Azam, met Trade Advisor of the Textiles Ministry A. Bipin Menon in New Delhi. During the meeting, both sides discussed avenues for mutual cooperation, including technical support and training for Afghan cotton farmers, facilitation of shipments and visas, and closer engagement between industry bodies of both countries. The visiting delegation also articulated Afghanistan's priority to strengthen its textile ecosystem, create employment opportunities, and enhance training facilities for farmers entering the cotton and textile value chain.
J&K to Hold First-Ever Limestone Block Auction
In a step toward enhancing mineral development, Jammu & Kashmir hosted its first-ever auction of limestone blocks in November 2025. This event marked the beginning of a new era in the Union Territory's mining sector, aimed at attracting investment, boosting industrial activity, and unlocking the region's economic potential. The auction took place at the Convention Centre, Jammu, in the presence of Union Minister of Coal and Mines G. Kishan Reddy, Chief Minister Omar Abdullah, and Deputy Chief Minister Surinder Choudhary.
The move to auction limestone blocks is part of broader mining sector reforms that seek to make mineral allocation more transparent and competitive. Jammu & Kashmir, rich in mineral deposits but underexplored due to decades of limited private sector involvement, now stands at the cusp of a major transformation.
Nov 24, 2025
Sandip Pradhan Appointed as Whole-Time Member of SEBI
The Government of India appointed Sandip Pradhan as a Whole-Time Member of the Securities and Exchange Board of India (SEBI). His term will last three years from the date he assumes charge or until further orders, whichever is earlier. This appointment was notified by the Ministry of Finance under provisions of the SEBI Act, 1992.
Sandip Pradhan is a senior Indian Revenue Service (IRS) officer with a strong background in tax investigation and enforcement.
RBI Announces Interlinking of UPI with European Instant Payment System
In a significant move, the Reserve Bank of India (RBI) announced the interlinking of Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem.
The proposed UPI-TIPS interlinkage aims to facilitate cross-border remittances between India and the Euro Area and is expected to benefit users of both jurisdictions.
Notably, the Reserve Bank of India has been actively pursuing interlinking of Unified Payments Interface (UPI) with fast payment systems of other jurisdictions to promote cross border payments.
Government to Release New Series of National Accounts for GDP 2026
The Government of India will roll out a new series of national accounts on February 27, 2026, with fiscal year 2022–23 as the new base year, according to the Ministry of Statistics and Programme Implementation (MoSPI). This update is part of a regular revision cycle aimed at improving the accuracy, relevance, and timeliness of national economic data, which serves as a key input for economic planning, policymaking, and research.
National account statistics—used to compute Gross Domestic Product (GDP), Gross Value Added (GVA), and related indicators—are typically revised every few years to,
Reflect structural shifts in the economy
Incorporate new and updated data sources
Adopt refined methodologies in line with international standards
Adjust for changes in consumption patterns, production trends, and investment flows
The last major revision took place in 2015, when the base year was changed from 2004–05 to 2011–12. The upcoming revision will bring this up to date with post-pandemic economic realities and the rise of the digital and service economy.
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