From Chips to Crops: The Human-Centric Economics of Sitharaman’s Latest Play

The unveiling of the Union Budget 2026 by Finance MinisterNirmala Sitharaman has sent a ripple of calculated optimism across the Indian subcontinent. Far from being a mere balance sheet of state expenditures, this year’s budget reads like a sophisticated manifesto for a nation in transition. It is a document that attempts to marry the high-octane requirements of the Silicon Valley of the East with the grounded, essential needs of the Grameen (rural) economy.

Rather than focusing on broad-stroke subsidies, the 2026 roadmap prioritises structural empowerment. It signals a shift from "providing for" the people to "building platforms" for them—whether that platform is a world-class data centre or a credit-rating system for a small-scale farmer.

I. The Silicon Shield: IT and Global Data Ambitions

For the technology sector, the Finance Minister has moved beyond rhetoric to address long-standing operational hurdles. The headline act here is the significant relief on transfer pricing.

For the uninitiated, transfer pricing has often been a point of friction for multinational corporations (MNCs) operating in India, leading to protracted legal battles. By streamlining these regulations, the government is effectively lowering the "hassle tax" for global tech giants.

The Cloud Revolution: Specific incentives have been introduced to transform India into a Global Cloud Hub. The aim is to move beyond software services and into the realm of physical infrastructure—hosting the world’s data on Indian soil.

India Semiconductor Mission 2.0: This is the "brain" of the budget. By doubling down on indigenous chip manufacturing, India is insulating its tech future from global supply chain shocks. As Aditya Khemka (CP PLUS) rightly noted, this isn't just about self-reliance; it is about ensuring the intelligence powering our public safety and AI systems is "Made in India."

AI from Labs to Streets: The transition of Artificial Intelligence from an experimental playground to "mission-critical" public infrastructure is a bold leap. The budget funds AI missions that will oversee everything from smart traffic management to enhanced healthcare diagnostics.

II. Bridging the "Invisible" Divide: The Grameen Credit Score

Perhaps the most human-centric innovation in this budget is the Grameen Credit Score. For decades, the formal banking sector has been "blind" to the financial realities of rural India. A farmer might have a steady income and a history of local reliability, but without a traditional credit history, they remain "invisible" to Public Sector Banks.

"We are moving away from a one-size-fits-all credit model," a Ministry official noted. "The Grameen Score is a lens that finally sees the rural household for its true potential."

Behavioural Analytics: Instead of looking for a monthly paystub, the new framework captures seasonal income patterns and local trade cycles.

The Postman as a Banker: By expanding the India PostPayments Bank (IPPB), the government is leveraging the country’s most trusted network. The local postman is no longer just delivering letters; he is the conduit for formal credit, ensuring that the "last mile" is the "first priority."

Simplified KYC: Financial inclusion is often throttled by paperwork. The simplified KYC norms act as a digital "open door" for those previously intimidated by the marble floors of traditional banks.

Read Also : IAIRO’s primary objective is the development of Indigenous Foundational Models 

III. The Architect’s View: Market Liquidity and Creative Push

The budget has also found its champions in the institutional and creative sectors, who see these reforms as the "grease" in the wheels of the economy.

Debt Markets and MSMEs: Manu Sehgal, CEO of Brickwork Ratings, highlighted the deepening of India’s debt markets. By introducing a market-making framework for corporate bonds, the budget ensures that MSMEs(Micro, Small, and Medium Enterprises) aren't left high and dry when they need capital.

Creative Economy (AVGC): In a world increasingly dominated by digital content, the IndieVisual perspective, shared by Prashanth Naik, underscores the importance of the AVGC (Animation, Visual Effects, Gaming, andComics) sector. The budget provides a cushion for AI-driven creative capabilities, ensuring that Indian artists and developers can scale their work globally.

IV. Key Budgetary Impact Points

IT Sector: Gains massive relief through eased transfer pricing, fostering a more predictable tax environment for global giants.

Rural Finance: Introduction of the Grameen Credit Score allows for accurate credit assessment based on unique rural financial patterns.

Indigenous Tech: A decisive push for Semiconductor Mission 2.0 ensures India builds the "brains" of its own electronic and AI systems.

Read Also : The Unbreakable Revolution: Why your next smartphone mightbe tougher than your boots.

Financial Infrastructure: Expanded role for India Post Payments Bank ensures banking reaches the doorstep of the underserved.

Creative Growth: Strategic focus on AI adoption within the AVGC sector positions India as a trusted creator of global content.

Debt Liquidity: New incentives for municipal bonds and a market-making framework for corporate bonds improve risk pricing for smaller businesses.

The Final Verdict: A Nation of Creators, Not Consumers

The Union Budget 2026 is a declaration of confidence. It suggests that India is no longer content being a consumer of global technologies or a passive observer of global finance. By fixing the plumbing of the rural economy through the Grameen Score and building the cathedrals of the future via the Semiconductor Mission, the government has laid out a path that is both inclusive and ambitious.

By - Aaradhay Sharma 

IAIRO’s primary objective is the development of Indigenous Foundational Models

The air in New Delhi this season carries more than the usual hum of a burgeoning metropolis; it carries the electric charge of a digital manifest destiny. With the formal inauguration of the Indian ArtificialIntelligence Research Organisation (IAIRO), the Republic of India has ceased being a mere consumer of Western-coded logic and has begun the arduous, exhilarating process of forging its own intellectual furnace. This is not merely a policy shift—it is an assertion of technological statehood.

For decades, the global south has been a laboratory for "Big Tech." We provided the data; they provided the insights. We provided the labour; they harvested the intellectual property. IAIRO is the definitive "No" to that status quo. By pivoting from theoretical frameworks to sovereign execution, India is attempting something no other democracy of its scale has dared: the creation of a vertically integrated, indigenous AI stack that answers to no one but the Indian people.

The Architecture of Autonomy: Beyond the 'Black Box'

At the heart of IAIRO’s mandate lies a fundamentaldissatisfaction with current "off-the-shelf" AI. Silicon Valley models are often trained on datasets that, while vast, are culturally and linguistically skewed. To a Californian Large Language Model (LLM), a "fair trial" or "familial duty" carries a specific Western philosophical weight. To an Indian citizen in rural Bihar or urban Bengaluru, those concepts are layered with millennia of different social textures.

IAIRO’s primary objective is the development of Indigenous Foundational Models. Unlike the generic models used globally, these are being built from the ground up to navigate the labyrinthine complexity of India’s 22 official languages and thousands of dialects.

Why "Sovereign AI" Matters

The concept of Sovereign AI rests on three unbreakable pillars:

Data Localisation: Ensuring that the "new oil"—Indian citizen data—remains within Indian borders, protected by local jurisprudence.

Algorithmic Neutrality: Stripping away the inherent biases of foreign models to ensure AI-driven governance is fair in an Indian context.

Strategic Independence: Ensuring that critical infrastructure—from the power grid to the missile silos—is not dependent on a software update from a foreign entity that could be toggled off during a diplomatic spat.

From the Secretariat to the Soil: Applied Execution

The most striking feature of IAIRO is its refusal to remain ivory-towered. The organisation has bypassed the typical "white paper phase" and moved directly into deployable systems. While the rest of the world debates the existential risks of "AGI," IAIRO is busy coding solutions for the "here and now."

1. The Digital Agrarian

In a nation where the monsoon is the ultimate economic arbiter, IAIRO is deploying AI models that integrate satellite imagery with soil sensors and local climate history. These systems don't just predict the weather; they offer hyper-local crop advisories in native dialects via basic mobile handsets. It is the democratisation of precision agriculture, scaled for the smallholder farmer.

2. Healthcare without Borders

With a doctor-to-patient ratio that remains a challenge, IAIRO is pioneering diagnostic AI assistants. These tools are being trained on Indian phenotypic data, making them far more accurate at identifying local variants of diseases like tuberculosis or regional nutritional deficiencies than any model trained in Boston or London.

3. The Automation of Governance

The legendary "Indian Bureaucracy" is undergoing a quiet, algorithmic streamlining. IAIRO-developed tools are being used to automate the processing of welfare schemes, ensuring that "Leakage"—the bane of previous administrations—is minimised through biometric verification and automated eligibility audits.

The Talent Pipeline: Forging the 'AI-Yoddhas'

A sovereign AI ecosystem is only as strong as the minds that maintain it. IAIRO is not just a research hub; it is a pedagogical engine. By partnering with the Indian Institutes of Technology (IITs) and burgeoning start-ups in Hyderabad and Pune, the organisation is creating a "Talent Pipeline" designed to stem the brain drain to the West.

Read Also : Budget Revolution: Samsung's Galaxy F70 Series to Start Under ₹15k.

The goal is to create a new class of "AI-Yoddhas" (AI Warriors)—engineers and ethicists who view coding not just as a career, but as a form of nation-building. This includes:

Start-up Incubators: Providing domestic entrepreneurs with subsidized access to IAIRO’s massive compute clusters.

Ethical Guardrails: Developing a uniquely Indian framework for AI ethics that balances individual privacy with the collective good, diverging from the more individualistic GDPR model of Europe.

The Global Chessboard: India as a Third Way

The world is currently witnessing a bipolar AI race between the United States’ corporate-driven model and China’s state-centralised approach. India, through IAIRO, is presenting a Third Way.

It is a model where the state provides the foundational infrastructure and security protocols, but the actual innovation is decentralised, open-source, and public-spirited. By owning the IntellectualProperty (IP) of these models, India isn't just protecting its borders; it's preparing to export these "Global South-friendly" AI solutions to other nations in Africa, Southeast Asia, and Latin America.

The Road Ahead: Challenges and Triumphs

Of course, the path to silicon sovereignty is fraught with obstacles. The hardware required for training foundational models—the high-end GPUs—is currently a global bottleneck controlled by a handful of firms. IAIRO’s success will depend heavily on its ability to secure these chips or, more ambitiously, to eventually design its own.

Read Also : Death by Algorithm: Preparing for the New Age of LegalLiability

Furthermore, the transition from "Strategy to Execution" requires a cultural shift within the government itself—moving from a regulator’s mindset to a builder’s mindset.

The Verdict

The inauguration of IAIRO signals that India is no longer content to be the "back office" of the world. It intends to be the "front office," the "engine room," and the "designer’s studio." By seizing control of its digital destiny, New Delhi is ensuring that when the history of the 21st century is written, the algorithms that shaped it will have been dreamt, coded, and deployed in the heart of India.

The "Sovereign AI" movement is more than a technological milestone; it is a declaration of independence in the age of the machine.

By – Aaradhay Sharma

Governments and regulators worldwide are struggling to respond to a rapid surge of AI

Governments and regulators worldwide are struggling to respond to a rapid surge of AI-generated non-consensual nude images circulating on X, following the rollout of image-generation capabilities in xAI’s Grok chatbot. Over the past two weeks, the platform has seen an unprecedented volume of manipulated images targeting women, including celebrities, journalists, crime victims, and even political leaders.

Research published by AI detection firm Copyleaks highlights the scale of the issue. While an earlier estimate suggested one such image was being uploaded every minute, further analysis revealed far higher volumes. A dataset collected between January 5 and 6 recorded nearly 6,700 images per hour over a 24-hour period, underscoring how quickly the content proliferated.

The episode has intensified global criticism of X and its owner Elon Musk, particularly over allegations that Grok was released without sufficient safeguards. Despite widespread condemnation, regulators face limited legal tools to curb the misuse of rapidly evolving AI systems, exposing gaps in existing technology governance frameworks.

The European Commission has taken the most decisive step so far, ordering xAI to preserve all internal documentation related to Grok. While the move does not automatically signal a formal investigation, it is widely viewed as a preliminary step toward potential enforcement action. The decision follows reports suggesting internal resistance to implementing stricter image-generation controls.

X has not confirmed whether technical changes have been made to Grok, though the public media feed associated with the chatbot’s X account has been removed. In a statement posted by X’s safety team, the company condemned the use of AI to generate illegal content, including child sexual abuse material, warning that violations would face the same consequences as direct uploads.

Regulators elsewhere have issued strong warnings. The UK’s communications regulator Ofcom said it is in contact with xAI and is conducting a rapid assessment to determine whether the company has breached compliance obligations. Prime Minister Keir Starmer described the situation as “disgraceful,” pledging full support for regulatory action if required.

In Australia, eSafety Commissioner Julie Inman-Grant reported a sharp rise in complaints related to Grok-generated content since late 2025. While stopping short of enforcement action, she said authorities are assessing regulatory options.

India has emerged as the most significant potential enforcement risk. Following a formal complaint by a Member of Parliament, the Ministry of Electronics and Information Technology directed X to explain the steps taken to address the issue. Although X submitted a response earlier this week, regulators have yet to confirm whether it is satisfactory. Failure to comply could jeopardise X’s legal protections in the country, posing serious operational consequences. As AI tools grow more powerful and accessible, the Grok controversy highlights the widening gap between technological capability and regulatory readiness.

BY ADVIK GUPTA

facebook sharing button Sharetwitter sharing buttonemail sharing buttonwhatsapp sharing buttonlinkedin sharing button

facebook sharing button Sharetwitter sharing buttonemail sharing buttonwhatsapp sharing buttonlinkedin sharing button

Union Minister Nitin Gadkari has  announced Prime Minister Narendra Modi will soon launch the cashless treatment scheme for road accident victims across India. The initiative aims to provide timely medical care to accident victims and reduce fatalities caused by treatment delays.

The scheme, first piloted in Chandigarh in March 2024, was later expanded to six states. Under the programme, victims are entitled to cashless medical treatment of up to ₹1.5 lakh per accident for a period of seven days from the date of the accident. It covers all road accidents involving motor vehicles, irrespective of road category.

Reducing Fatalities through Timely Interventio

Speaking at a press conference after an annual meeting of transport ministers from all states and Union Territories, Gadkari highlighted the scheme’s role in strengthening India’s road safety framework. “The Prime Minister will formally launch the cashless treatment scheme for road accident victims soon,” he said.

The scheme is designed to address the high number of deaths caused by delays in medical intervention. “Any person who is a victim of a road accident arising from the use of a motor vehicle on any road will be entitled to cashless treatment under this programme,” a government notification stated.

Since the pilot launch, the scheme has processed 6,833 treatment requests, of which 5,480 victims were approved. The remaining applications were rejected following police verification. To date, the total funds disbursed under the Motor Vehicle Accident Fund amount to ₹73,88,848.

Pilot Programme Shows Promising Results

The pilot programme demonstrated that cashless treatment could significantly improve timely access to medical care for accident victims. Nearly 20 percent of applications were rejected during the pilot, highlighting the importance of verification and streamlined processes.

As the scheme expands nationwide, authorities expect it to enhance road safety measures, support victims more efficiently, and provide a safety net for families affected by road accidents. Officials say the initiative is part of a broader push to improve public convenience, road safety, and ease of doing business in the transport sector.

BY ADVIK GUPTA 

DELHI POLICE BOOK WRONG-SIDE DRIVING UNDER NEW CRIMINAL LAW IN FIRST-OF-ITS-KIND MOVE

 In a landmark development for road safety enforcement, the Delhi Police has registered a First Information Report (FIR) for wrong-side driving, making the national capital the first Union Territory in India to initiate criminal proceedings for this traffic violation. The case has been filed under the newly implemented Bharatiya Nyay Sanhita (BNS), signalling a tougher stance against dangerous driving behaviour.

The FIR was registered on January 3 at the Delhi Cantonment police station against a man from Shahjahanpur, Uttar Pradesh, who was allegedly caught driving against the flow of traffic near the Hanuman Mandir red light. Police officials said the act posed a serious risk to other road users and warranted action beyond a routine traffic challan.

According to authorities, the accused was found without a valid driving licence or vehicle insurance at the time of the incident. However, the case was specifically booked under Section 281 of the Bharatiya Nyay Sanhita, which addresses rash or negligent driving on public roads that endangers human life. This provision allows the police to pursue criminal liability rather than limiting action to monetary penalties.

Officials describe the move as a strategic shift in traffic law enforcement, aimed at deterring habitual and high-risk violations such as wrong-side driving, overspeeding, and reckless manoeuvres. By invoking criminal law, police hope to instil greater accountability among motorists and reduce repeat offences.

The decision comes amid growing concerns over road safety in India. Government data for 2023 shows more than 1.73 lakh fatalities and around 4.6 lakh injuries due to road accidents nationwide. Two-wheeler riders accounted for a large share of these deaths, highlighting the persistent dangers posed by unsafe driving practices.

With this step, Delhi Police has set a precedent that could influence traffic enforcement strategies across the country, reinforcing the message that reckless driving is not just a violation—but a serious crime with real consequences.

BY- Nirosha Gupta 

the Ministry of Law and Justice introduced Nyaya Setu, a WhatsApp-based legal support service designed to bring free legal awareness

Starting 1 January 2026, the Ministry of Law and Justice introduced Nyaya Setu, a WhatsApp-based legal support service designed to bring free legal awareness and assistance directly to citizens—no apps, no paperwork, just a smartphone.

The initiative aims to simplify access to justice by combining technology, legal expertise, and existing government aid programs into one easy-to-use digital channel.

How Citizens Can Use Nyaya Setu

WhatsApp Access: Save the number 7217711814 and send a message. The account may appear under the name “Tele-Law.”

Secure Verification: To receive lawyer-level assistance, users must verify their mobile number through a one-time password (OTP).

Always Available: The service runs round-the-clock, accessible across India via Android phones, iPhones, and WhatsApp Web.

What Nyaya Setu Offers

AI-Based Legal Information

The chatbot uses artificial intelligence to explain legal topics in plain language, covering areas such as:

Property and land disputes

Family and matrimonial issues

Domestic violence

Basic civil and criminal law queries

Direct Link to Legal Professionals

Users can be connected to empanelled lawyers for preliminary consultations, helping them understand possible legal options before taking formal steps.

One Platform, Multiple Schemes

Nyaya Setu acts as a digital bridge between citizens and existing government legal aid initiatives, including:

Tele-Law

Nyaya Bandhu

Legal Services Authorities (LSAs)

Case Updates and Tracking

Individuals can monitor the progress of their cases and receive updates directly through the WhatsApp interface.

What Users Should Keep in Mind

Not a Substitute for Court Representation

The service is meant for guidance and awareness. It does not replace the role of a qualified advocate for court appearances or detailed litigation.

Initial Rollout Challenges

As with many new digital services, some users have reported early technical issues, particularly during the OTP verification stage, following its January 2026 launch.

By: Aaradhay Sharma

India has taken a decisive step toward opening up its insurance industry by easing long-standing governance

India has taken a decisive step toward opening up its insurance industry by easing long-standing governance and residency conditions for insurers with overseas ownership. The changes follow the government’s recent move to permit 100 per cent foreign direct investment (FDI) in insurance, signalling a clear ntent to attract deeper and more sustained global participation.

Through a fresh notification issued by the finance ministry, earlier rules that tightly controlled the nationality and residency of board members and senior executives have been substantially relaxed. Insurance companies with foreign shareholders are no longer bound by the requirement that most directors or key management personnel must be India-based. Instead, the revised framework stipulates a lighter touch: only one among the CEO, managing director, or board chairperson must be a resident Indian citin.

Regulatory shift aligned with new legislation

These changes are designed to give effect to the newly enacted insurance reform law cleared by Parliament during the Winter Session and subsequently approved by the President. The legislation is part of a broader effort to modernise the insurance sector’s regulatory architecture and make India a more competitive destination for long-term international capital.

According to the finance ministry, the final rules were issued after stakeholder feedback on a draft circulated in August. The amendments became effective immediately after their publication in the official gazette on December 30, 2025.

Removal of restrictive provisions

One of the most consequential changes is the deletion of Rule 4A, which previously applied to insurers with foreign ownership beyond 49 per cent. That rule had imposed profit retention obligations on companies whose solvency margins dipped below regulatory thresholds, even if dividends were being paid. It also laid down stricter norms on board independence.

With Rule 4A scrapped, insurers backed by foreign investors are no longer required to reserve half their profits under such conditions, nor must they meet the earlier thresholds for independent directors on their boards.

FEMA and FDI rules streamlined

The notification also updates the regulatory framework by replacing references to outdated FEMA regulations from 2000 with the FEMA (Non-Debt Instrument) Rules, 2019. Additionally, language linked to the earlier 74 per cent FDI ceiling has been removed, with references now tied directly to limits specified under the Insurance Act, 1938.

Several other conditions specific to foreign-invested insurers have also been withdrawn. These include the need for prior approval from the Insurance Regulatory and Development Authority of India (IRDAI) to repatriate dividends, caps on payments to overseas group entities, and prescriptive norms governing board and management composition.

Part of a wider reform push

The changes form part of a larger legislative overhaul under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, which also updates the LIC Act, 1956, and the IRDAI Act, 1999. Together, these measures underscore the government’s push to liberalise the insurance ecosystem, reduce regulatory friction, and position India as a more globally integrated insurance market. conditions for insurers with overseas ownership. The changes follow the government’s recent move to permit 100 per cent foreign direct investment (FDI) in insurance, signalling a clear ntent to attract deeper and more sustained global participation.

Through a fresh notification issued by the finance ministry, earlier rules that tightly controlled the nationality and residency of board members and senior executives have been substantially relaxed. Insurance companies with foreign shareholders are no longer bound by the requirement that most directors or key management personnel must be India-based. Instead, the revised framework stipulates a lighter touch: only one among the CEO, managing director, or board chairperson must be a resident Indian citin.

Regulatory shift aligned with new legislation

These changes are designed to give effect to the newly enacted insurance reform law cleared by Parliament during the Winter Session and subsequently approved by the President. The legislation is part of a broader effort to modernise the insurance sector’s regulatory architecture and make India a more competitive destination for long-term international capital.

According to the finance ministry, the final rules were issued after stakeholder feedback on a draft circulated in August. The amendments became effective immediately after their publication in the official gazette on December 30, 2025.

Removal of restrictive provisions

One of the most consequential changes is the deletion of Rule 4A, which previously applied to insurers with foreign ownership beyond 49 per cent. That rule had imposed profit retention obligations on companies whose solvency margins dipped below regulatory thresholds, even if dividends were being paid. It also laid down stricter norms on board independence.

With Rule 4A scrapped, insurers backed by foreign investors are no longer required to reserve half their profits under such conditions, nor must they meet the earlier thresholds for independent directors on their boards.

FEMA and FDI rules streamlined

The notification also updates the regulatory framework by replacing references to outdated FEMA regulations from 2000 with the FEMA (Non-Debt Instrument) Rules, 2019. Additionally, language linked to the earlier 74 per cent FDI ceiling has been removed, with references now tied directly to limits specified under the Insurance Act, 1938.

Several other conditions specific to foreign-invested insurers have also been withdrawn. These include the need for prior approval from the Insurance Regulatory and Development Authority of India (IRDAI) to repatriate dividends, caps on payments to overseas group entities, and prescriptive norms governing board and management composition.

Part of a wider reform push

The changes form part of a larger legislative overhaul under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, which also updates the LIC Act, 1956, and the IRDAI Act, 1999. Together, these measures underscore the government’s push to liberalise the insurance ecosystem, reduce regulatory friction, and position India as a more globally integrated insurance market.

By Advik Gupta

FASTag Rules Overhauled: KYV Verification to End for Cars, Jeeps and Vans

In a major relief for private vehicle owners, the National Highways Authority of India (NHAI) has decided to remove the mandatory Know Your Vehicle (KYV) process for newly issued FASTags starting February 1, 2026. The change applies to cars, jeeps, and vans and is aimed at reducing post-activation hassles faced by users.

KYV was earlier introduced as a verification step after FASTag activation to ensure that the tag was correctly mapped to the vehicle. However, many vehicle owners complained of repeated follow-ups and verification delays—even after submitting valid documents—prompting NHAI to review the system.

What’s changing for new FASTags?

Under the new framework, FASTags for private vehicles will no longer require KYV as a routine step after activation. Once issued, users can start using their FASTags immediately without worrying about additional verification—unless a problem is reported.

When will KYV still apply?

NHAI clarified that KYV has not been completely eliminated. It will now be triggered only in specific cases, such as:

Complaints about loose or damaged FASTags

Incorrect tag issuance

Suspected misuse or fraud

Mismatch between vehicle details and FASTag data

If no such issue arises, users will not be asked to complete KYV.

What about existing FASTag users?

Vehicles that already have FASTags will not be required to undergo KYV by default. Similar to new tags, KYV will be carried out only if a complaint or discrepancy is reported. In the absence of any issue, existing FASTags will continue to function without interruption.

How will safety and accuracy be ensured?

To prevent misuse while easing the process for users, NHAI has tightened pre-activation checks for issuer banks. FASTags can now be activated only after vehicle details are verified on the VAHAN database.

The earlier system—where tags could be activated first and verified later—has been discontinued.

In rare cases where vehicle data is unavailable on VAHAN, banks must verify details using the Registration Certificate (RC) before activating the FASTag and will be fully accountable for the verification.

These stricter checks also apply to FASTags purchased online, ensuring all validations are completed upfront and customers are not contacted again after activation.

— By Aaradhay Sharma

Supporters of the reorganization argue that digital access to research materials and centralized storage make physical

The permanent closure of NASA’s largest library at the Goddard Space Flight Center in Maryland marks the end of a six-decade-long chapter in the agency’s scientific history. Scheduled to shut its doors on January 2, the library has served as a cornerstone of research and institutional memory since it was established in 1959, supporting generations of scientists, engineers, and mission planners who shaped America’s space program.

For decades, the Goddard library functioned as far more than a traditional reading space. It was a technical backbone for mission development, housing specialized journals, engineering manuals, mission archives, and rare scientific texts that informed some of NASA’s most transformative projects. Among the missions that benefited from its resources were the Hubble Space Telescope, which revolutionized astronomy, and the James Webb Space Telescope, the most powerful space observatory ever built.

The library’s extensive collection—estimated at nearly 100,000 volumes—is now being dismantled. According to Jacob Richmond, a NASA spokesperson, the agency will spend the next two months reviewing the materials to determine what can be retained. Selected items will be transferred to a federal government storage facility, but a large portion of the collection will be permanently discarded.

Richmond explained that the disposal process follows long-standing federal asset management protocols. “This process is an established method used by federal agencies to properly dispose of federally owned property,” he said, stressing that the actions comply with administrative guidelines. However, critics argue that procedural compliance does little to address the loss of irreplaceable scientific knowledge.

Concerns over the scale of the dismantling intensified after a statement from the Goddard Engineers, Scientists and Technicians Association, which revealed that the closures extend beyond books and documents. According to the group, specialized testing equipment and custom electronics used for spacecraft validation have already been removed from the site and discarded, raising alarms about the irreversible loss of highly specialized tools developed over decades.

The shutdown of the Goddard library is not an isolated decision. It forms part of a sweeping reorganization initiative launched during the Donald Trump administration, aimed at consolidating federal research infrastructure. Under this plan, 13 NASA buildings and more than 100 science and engineering laboratories are slated for closure by March 2026, dramatically reshaping the physical footprint of the agency

Since 2022, NASA has already closed seven libraries across the United States, with three of those closures occurring in 2025 alone. The accelerating pace of these shutdowns has fueled growing unease among researchers, who warn that eliminating physical research centers risks eroding institutional continuity and weakening collaboration across disciplines.

The political response has been swift and sharply divided. Senator Chris Van Hollen, a Democrat representing Maryland, has emerged as one of the most vocal critics of the move. He accused the administration of targeting NASA Goddard and its workforce in a way that threatens America’s leadership in space science and Earth observation.

“The Trump Administration has spent the last year attacking NASA Goddard and its workforce,” Van Hollen said, adding that the closures jeopardize efforts to explore space, expand understanding of Earth’s climate systems, and drive technological breakthroughs that strengthen both the economy and national security. He pledged to continue pushing back against what he described as a careless and short-sighted approach to scientific infrastructure.

Supporters of the reorganization argue that digital access to research materials and centralized storage make physical libraries increasingly unnecessary. Critics, however, counter that many of the Goddard library’s resources—including annotated mission documents, legacy engineering data, and obsolete but historically vital formats—cannot be easily digitized or replaced.

As the doors of NASA’s largest library close, scientists and engineers fear that the loss extends far beyond a single building. For many within the space agency, the Goddard library represented decades of accumulated expertise—knowledge built mission by mission, problem by problem. Its closure, they warn, symbolizes a broader shift away from preserving the foundations upon which future discoveries depend.  

By Advik  Gupta

Bharat Taxi Bets on Cooperative Power to Disrupt India’s Ride-Hailing Market

The cooperative-led Bharat Taxi platform is preparing for a major expansion following a successful pilot programme in Delhi, marking a notable attempt to introduce a driver-owned alternative in India’s crowded app-based mobility market. Built around the principles of cooperative ownership, fair earnings, and transparent pricing, the platform aims to rebalance the relationship between drivers, passengers, and technology.

Afterbeing introduced on a trial basis in the national capital in early December, Bharat Taxi is expected to formally launch across Delhi and extend operations to multiple Indian cities by the end of January. The pilot phase generated strong engagement, indicating both commuter demand and growing confidence among drivers who have long expressed concerns about high commissions and unpredictable earnings on conventional ride-hailing platforms.

Strong early traction in Delhi pilot

During the trial period, Bharat Taxi facilitated an average of around 5,500 trips per day, with airport transfers emerging as one of the most frequently used services. The platform offered commuters access to a range of vehicle categories, including taxis, auto-rickshaws, and two-wheelers, allowing users to choose transport options based on distance, affordability, and convenience.

On the supply side, the platform recorded over 1.4 lakh driver registrations, a figure that reflects widespread interest in alternative operating models. Many drivers were drawn to the promise of zero commission and the opportunity to become members of a cooperative rather than remaining dependent on privately owned aggregators.

Cooperative ownership at the core

Bharat Taxi is promoted by Sahakar Taxi Cooperative Limited, a consortium supported by well-known cooperative and financial institutions associated with India’s agriculture, dairy, and rural finance sectors. By adopting a cooperative structure, the platform seeks to transfer a share of ownership and decision-making power to drivers, positioning them as stakeholders in the business.

Unlike traditional ride-hailing apps that typically charge commissions ranging between 20% and 30% on every ride, Bharat Taxi allows drivers to retain their entire fare earnings. Beyond this, registered drivers are eligible for annual dividends linked to the cooperative’s performance, a share in overall profits, and insurance coverage. These measures are intended to improve income security and create long-term financial stability for driver-members

Predictable fares and passenger-friendly pricing

One of the platform’s defining features is its commitment to price transparency. Bharat Taxi does not implement surge pricing, a common source of passenger dissatisfaction during peak hours or adverse weather conditions. Instead, fares remain consistent and clearly communicated, allowing users to plan their travel costs in advance.

The app supports multiple modes of urban transport under a single interface, encouraging flexibility and cost-effective commuting. By including two-wheelers and auto-rickshaws alongside traditional cabs, Bharat Taxi aims to cater to a wider range of users, from daily commuters to occasional travellers.

Safety, technology, and integration

Passenger and driver safety has been positioned as a key priority. The app incorporates real-time location tracking, verified driver profiles, and detailed ride information to improve accountability and trust. These features are designed to reassure users while also offering drivers protection through transparent trip records.

In a move toward integrated urban mobility, Bharat Taxi has been linked with metro services, enabling commuters to combine last-mile rides with mass transit options. The platform has also partnered with local law enforcement agencies to strengthen security measures and improve response mechanisms when required.

A cooperative alternative in a competitive market

As Bharat Taxi prepares for a wider rollout, it enters a highly competitive market dominated by well-established private aggregators. However, its cooperative-driven approach, focus on driver welfare, and emphasis on fair pricing position it as a distinct alternative aligned with India’s broader push toward inclusive and sustainable economic models.

By placing drivers at the centre of its operational and ownership framework, Bharat Taxi is attempting to redefine how digital mobility platforms function in India. If its cooperative model scales successfully beyond the pilot phase, it could influence future discussions around platform economics, labour rights, and the role of cooperatives in the digital economy.

By Advik Gupta

Naukri.com-parent, which had invested Rs 86 crore in the food delivery startup between 2010 and 2013, has seen the value

 The shares of Zomato and Blinkit-parent company Eternal have seen a sharp surge, jumping over 122 percent since its listing in 2021. The rally signalled huge returns for its pre-IPO investor Info Edge. The Naukri.com-parent, which had invested Rs 86 crore in the food delivery startup between 2010 and 2013, has seen the value of its stake significantly multiply over the years. Info Edge held a 12.38 percent stake in Eternal at the endof the September quarter of the ongoing financial year 2026.

 The Sanjeev Bikhchandani-led company has diluted its stake in Eternal several times in between, including during the company’s initial public offering in 2021 that delivered strong returns. During the IPO, Info Edge made a bumper profit of 64.5 times on the issue price.

Zomato shares (now known as Eternal) listed with a premium of over 51 percent over the IPO price at Rs 115 apiece. After the IPO success, Info Edge Founder Sanjeev Bikhchandani told Moneycontrol that Zomato’s strong listing was the ultimate validation and public proof of the doctrine – “invest smartly in start-ups and over a decade or so you will strike gold”.

These start-ups will go on to become giants and will create new industries, categories and business models. They will create jobs and deliver growth. They will power the industries they serve in. They will create greater customer satisfaction and choice. And they will ultimately create value for our shareholders. Zomato is a shining example of this,” Info Edge Founder Sanjeev Bikhchandani told leading daily, Moneycontrol after the IPO’s success.

A recent rally in Eternal's stock parent company of Zomato and Blinkit has significantly boosted the value of Info Edge’s stake, making it a key component of the company’s overall valuation.

Shares of Info Edge (India) Ltd climbed as much as 4.4% on Tuesday, at ₹1,467 on the BSE. The rally came in response to Eternal’s Q1 FY26 earnings report, which triggered strong investor sentiment and sent Eternal’s stock to a record high. This surge has elevated the value of Info Edge’s holding in Eternal to over one-third of its total market capitalisation.

Info Edge’s Stake in Eternal: A Strategic Bet

According to filings for the June quarter, Info Edge holds a 12.38% stake in Eternal, which translates to 119.46 crore shares. With Eternal’s stock jumping nearly 15% on Tuesday to an all-time high of ₹311.60, the value of this holding rose to around ₹37,226 crore.

In comparison, Info Edge’s total market cap stood at ₹94,184 crore as of July 22, highlighting the significant weight this single investment carries.

A Long-Term Investment That Continues to Pay Off

Info Edge first invested in Eternal formerly known as Zomato back in August 2010, when it took an 18.5% stake for ₹4.7 crore during its seed funding round. The company continued backing Eternal through the years, even holding a nearly 19% stake during Zomato’s IPO in 2021, where it also participated.

The recent rise in Eternal’s stock has renewed investor focus on Info Edge’s early and consistent backing of the company.

Eternal’s Q1 FY26 Results: Revenue Growth, Profit Decline

Despite the boost to market sentiment, Eternal’s Q1 FY26 results were mixed:

Consolidated net profit dropped 90% YoY to ₹25 crore, down from ₹253 crore a year earlier.

Revenue from operations surged 70% YoY to ₹7,167 crore, led by strong growth in quick commerce and food delivery.

Adjusted EBITDA fell 42% YoY to ₹172 crore, though food delivery margins improved to 5.0%, up from 3.9% in the same quarter last year.

The Net Order Value (NOV) of Eternal’s B2C businesses rose 55% YoY and 16% sequentially, reaching ₹20,183 crore.

Notably, quick commerce NOV surpassed food delivery NOV for the first time.

According to Akshant Goyal, CFO of Zomato, the drop in profitability is largely due to continued investments in quick commerce and their dining-out business vertical.

Eternal Share Price Performance

Eternal Ltd share price was trading at ₹301.25, up 10.88% from the previous close of ₹271.70. The stock touched an intraday high of ₹311.25 and recorded a traded volume of 2,362.49 lakh shares, amounting to a traded value of ₹7,116.78 crore.

Eternal's total market capitalisation now stands at ₹2.91 lakh crore, with a free float market cap of ₹2.09 lakh crore. Despite a high PE ratio (above 50) for the past four quarters, investor interest remains strong.

Read More: What Is LAT Aerospace, Zomato Founder Deepinder Goyal’s New Aviation Venture?

Conclusion

Info Edge’s early investment in Eternal continues to play a significant role in its valuation and investor outlook. With Eternal delivering strong topline growth despite margin pressures, the long-term bet by Info Edge appears to be yielding strategic value. However, sustained performance and profitability in the quick commerce space will remain crucial in determining the future trajectory of both companies’ market standing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. 

By  Advik Gupta

Customers with dormant, zero-balance or KYC-deficient accounts may face disruption unless they initiate

 Customers with dormant, zero-balance or KYC-deficient accounts may face disruption unless they initiate transactions and update details as banks begin a system-wide clean-up.

The Reserve Bank of India (RBI) has permitted banks to initiate the closure of certain inactive savings and deposit accounts starting January 1, in a move aimed at improving transparency, reducing fraud risks, and strengthening the overall health of the banking system. The directive focuses on accounts that have remained unused for extended periods, particularly those lacking updated customer information.

According to banking norms, maintaining active and verified accounts is essential to prevent misuse such as identity fraud, unauthorised transactions, and money laundering. As part of this clean-up exercise, banks will review long-idle accounts and either seek customer revalidation or proceed with closure after due notice.

Accounts most likely to be affected

Dormant accounts—those with no customer-initiated activity for two years or more—are at the highest risk. Such activity includes deposits, withdrawals, fund transfers, or even digital logins, depending on a bank’s internal policy. Once classified as dormant, accounts may face transaction restrictions, temporary suspension of interest credit, or eventual closure if customers fail to respond to bank communications.

Zero-balance accounts that have remained unused for long periods are also under scrutiny. Many such accounts were opened for occasional use or as part of promotional drives but never actively operated. Banks may close these accounts to reduce administrative burden and streamline records.

Another key category includes inactive accounts with incomplete or outdated Know Your Customer (KYC) documentation. Regulatory guidelines require banks to maintain current identity and address verification for all customers. Accounts lacking valid KYC, especially when combined with inactivity, may be deactivated or closed.

Steps customers should take

Customers are advised to act promptly to avoid inconvenience. A simple transaction—such as depositing or withdrawing funds—can help keep an account active. Updating KYC details by submitting valid identification and address proof is equally important. Banks typically notify customers through SMS, email, or letters before taking action.

Those holding multiple or seldom-used accounts should review their status and contact their bank proactively if alerted. Timely action before January 1 can ensure continued access to funds and prevent unexpected account closures, as banks move to enforce tighter compliance and operational discipline.

In view of the increase in the amount of the unclaimed deposits with banks year after year and the inherent risk associated with such deposits, it is felt that banks should play a more pro-active role in finding the whereabouts of the account holders whose accounts have remained inoperative. Further, several complaints have been received in respect of difficulties faced by the customers on account of their accounts having been classified as inoperative. Moreover, there is a feeling that banks are undeservedly enjoying the unclaimed deposits, while paying no interest on it. Keeping these factors in view, it is advised that State and Central Co-operative Banks may follow the instructions detailed below while dealing with inoperative / dormant accounts:

(i) Banks should make an annual review of accounts in which there are no operations (i.e. no credit or debit other than crediting of periodic interest or debiting of service charges) for more than one year. The banks may approach the customers and inform them in writing that there has been no operation in their accounts and ascertain the reasons for the same. In case the non-operation in the account is due to shifting of the customers from the locality, they may be asked to provide the details of the new bank accounts to which the balance in the existing account could be transferred.

(ii) If the letters are returned undelivered, they may immediately be put on enquiry to find out the whereabouts of customers or their legal heirs in case they are deceased.

(iii) In case the whereabouts of the customers are not traceable, banks should consider contacting the persons who had introduced the account holder. They could also consider contacting the employer / or any other person whose details are available with them. They could also consider contacting the account holder telephonically in case his telephone number / Cell number has been furnished to the bank. In case of Non Resident accounts, the bank may also contact the account holders through email and obtain their confirmation of the details of the account.

(iv) A savings as well as current account should be treated as inoperative / dormant if there are no transactions in the account for over a period of two years. The accounts which have not been operated upon over a period of two years should be segregated and maintained in separate ledgers.

(v) In case any reply is given by the account holder giving the reasons for not operating the account, banks should continue classifying the same as an operative account for one more year within which period the account holder may be requested to operate the account. However, in case the account holder still does not operate the same during the extended period, banks should classify the same as inoperative account after the expiry of the extended period.

(vi) For the purpose of classifying an account as 'inoperative' both the type of transactions i.e. debit as well as credit transactions induced at the instance of customers as well as third party should be considered. However, the service charges levied by the bank or interest credited by the bank should not be considered.

(vii) Further, the segregation of the inoperative accounts is from the point of view of reducing risk of frauds etc. However, the customer should not be inconvenienced in any way, just because his account has been rendered inoperative. The classification is there only to bring to the attention of dealing staff, the increased risk in the account. The transaction may be monitored at a higher level both from the point of view of preventing fraud and making a Suspicious Transactions Report. However, the entire process should remain un-noticeable by the customer.

(viii) Operation in such accounts may be allowed after due diligence as per risk category of the customer. Due diligence would mean ensuring genuineness of the transaction, verification of the signature and identity, etc. However, it has to be ensured that the customer is not inconvenienced as a result of extra care taken by the bank.

(ix) There should not be any charge for activation of inoperative account.

(x) Banks are also advised to ensure that the amounts lying in inoperative accounts ledger are properly audited by the internal auditors / statutory auditors of the bank.

(xi) Interest on savings bank accounts should be credited on regular basis whether the account is operative or not. If a Fixed Deposit Receipt matures and proceeds are unpaid, the amount left unclaimed with the bank will attract savings bank rate of interest.

2. Banks may also consider launching a special drive for finding the whereabouts of the customers / legal heirs in respect of existing accounts which have already been transferred to the separate ledger of 'inoperative accounts'.Yours faithfully,

By Advik Gupta

This review process is expected to give Vodafone Idea some flexibility in managing its long-term financial burden.

 The Union Cabinet has on December 31 approved a plan to freeze adjusted gross revenue dues of Vodafone Idea Ltd at Rs 87,695 crore, rescheduling the repayment over FY2032–41, while also opening the door to a reassessment of the dues by a government-appointed panel. The Department of Telecommunications (DoT) will reassess the dues based on deduction-verification guidelines and audit findings, with a committee appointed by the government to determine the final payable amount. The ruling will be binding on both the company and the Centre.

This comes after the Supreme Court allowed the government to reassess the telco’s statutory dues earlier this year.

Of the AGR dues that Vodafone Idea owes to the government, annual payments of Rs 18,000 crore were supposed to start in March 2026. However, the company had approached the Supreme Court related to the AGR issue, and said that if it was not able to secure relief from the payments, it would pose a big question mark over its financial stability and jeopardise the government’s stake in the telco.

As part of the fresh relief package, the Cabinet has decided to freeze the AGR dues of Vodafone Idea as on December 31 at Rs 87,695 crore, with the payment amount being rescheduled over financial years 2031-32 and 2040-41. The AGR dues for FY18 and FY19 shall be payable by the telco over the period FY26 to FY31 without any change.

New Delhi:

In a major relief for debt-hit Vodafone Idea, the Union Cabinet on Wednesday approved a support package that freezes a large part of the telecom company's adjusted gross revenue (AGR) dues.

As per the decision, Vodafone Idea's AGR dues amounting to Rs 87,695 crore have been frozen as of December 31, according to reports.

These dues will not have to be paid immediately and will instead be repaid over a long period of 10 years, starting from the financial year 2031–32 (FY32) and continuing till FY41.

The report said the frozen amount will be reassessed by the Department of Telecommunications (DoT) at a later stage

However, the relief does not apply to AGR liabilities related to FY18 and FY19.

These dues will remain unchanged and will have to be paid by Vodafone Idea between FY26 and FY31 as per the existing repayment schedule.

According to reports, the frozen AGR dues will be reviewed by the telecom department based on Deduction Verification Guidelines and audit reports.

This review process is expected to give Vodafone Idea some flexibility in managing its long-term financial burden.

 

A government-appointed committee will take a final call on the reassessed amount.

The Cabinet's move is aimed at protecting the government's nearly 49 per cent stake in Vodafone Idea, ensuring an orderly repayment of dues, maintaining competition in the telecom sector, and safeguarding the interests of around 20 crore Vodafone Idea subscribers across the country

Reports also clarified that the AGR dues for FY18 and FY19 were already finalised under a 2020 order of the Supreme Court of India and therefore will continue to be payable without any relief.

Following the development, Vodafone Idea shares came under pressure in the market. Around 3:05 pm, the stock was trading at about Rs 10.8 on the National Stock Exchange (NSE), down 10.36 per cent.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

 By Advik Gupta

MeitY Tightens the Screws on Digital Platforms Ahead of 2026

In a strong compliance push ahead of 2026, the Ministry of Electronics and Information Technology (MeitY) has issued a fresh advisory warning online platforms and social media companies that leniency toward illegal content will no longer be tolerated.

Issued on December 29, 2025, the advisory makes it clear that intermediaries risk losing their “safe harbour” protection under Section 79 of the IT Act if they fail to act decisively against unlawful material hosted on their platforms. Without this protection, platforms can be held directly liable for user-generated content.

What Platforms Must Do — Immediately

The advisory lays down a set of non-negotiable obligations:

Swift takedown of illegal content: Any material that is obscene, sexually explicit, pornographic, pedophilic, or harmful to children must be removed or blocked as soon as a court order or government directive is received.

Strict 24-hour deadline: Content showing a person engaged in a sexual act—or content that digitally impersonates such acts—must be taken down within 24 hours of a complaint filed by the affected individual or an authorised representative.

Internal systems under scrutiny: Platforms are instructed to urgently reassess their content moderation policies, enforcement workflows, grievance handling mechanisms, and internal controls.

Use of proactive technology: Large social media intermediaries are expected to go beyond reactive moderation by deploying automated and AI-driven tools to detect and curb the circulation of illegal material before it spreads.

Legal Exposure for Defaulters

Non-compliance will invite action under multiple laws, including:

The Information Technology Act, 2000 and the IT Rules, 2021

The Bharatiya Nyaya Sanhita (BNS), 2023, India’s new criminal code

Sector-specific statutes such as the POCSO Act and the Indecent Representation of Women (Prohibition) Act

MeitY has made it clear that failure to exercise “due care” will strip platforms of intermediary immunity, exposing them to prosecution and penalties.

Why the Government Is Acting Now

The advisory follows a government review that found uneven enforcement and weak due diligence across several platforms, allowing vulgar and unlawful content to remain publicly accessible. This mirrors earlier enforcement actions, including the blocking of dozens of OTT apps and streaming portals in 2024 and 2025 for similar violations.

The Message Is Unambiguous

With this advisory, the government has signalled a shift from advisory compliance to strict accountability. Platforms are no longer expected to merely respond to complaints—they are now required to actively prevent harm, especially where women and children are concerned.

As India heads into 2026, the era of regulatory ambiguity for digital intermediaries appears to be ending.

By - Aaradhay Sharma