In pursuance of the Union Budget 2026–27 announcement by the Union Minister for Finance and Corporate Affairs, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a new facilitation measure for trusted manufacturers by enabling the facility of deferred payment of Customs duty to a new category of importers called Eligible Manufacturer Importers (EMIs).
CBIC has issued detailed eligibility conditions, application process and operational guidelines through Circular No. 08/2026-Customs dated 28th February, 2026, in this regard.
Under this initiative, Eligible Manufacturer Importers (EMI) will be able to clear imported goods without paying Customs duty at the time of clearance.
Instead, the applicable duty can be paid on a monthly basis as prescribed under the Deferred Payment of Import Duty Rules, 2016, helping manufacturers better manage cash flows and working capital.
The facility will be available from 1st April, 2026 and will remain in force till 31st March, 2028.
The deferred payment facility shall be available to EMI meeting prescribed criteria related to Customs and GST compliance, turnover, financial standing and past track record. Existing AEO-T1 entities, including MSMEs, that fulfil the eligibility conditions are also eligible to participate.
The EMI scheme is designed as a trust-based facilitation measure, encouraging compliant manufacturers to benefit from simplified procedures while nudging them towards higher levels of compliance.
During the validity period of the scheme, approved Eligible Manufacturer Importers are expected to progressively obtain AEO-T2 or AEO-T3 status, enabling access to enhanced facilitation, faster clearances and priority treatment under the AEO Programme.
Deepak Gupta, a seasoned energy sector executive assumed charge as chairman and managing director of GAIL (India) Limited, India's largest gas transmission and marketing company.
Gupta, who replaces Sandeep Kumar Gupta, superannuated on February 28, joined GAIL as Director (Projects) in February 2022. He will have a tenure up to February 28, 2029.
He led the first greenfield refinery project in Mongolia, contributing significantly to India's global energy diplomacy.
During his career spanning 32 years at Engineers India Limited previously, he led many large cross- functional teams to execute landmark projects under complex and challenging conditions.
Iran named Ayatollah Alireza Arafi as an interim successor to long-time Supreme Leader Ali Khamenei. Ayatollah Alireza Arafi has been named to an interim leadership council, that includes the president and head of the judiciary, to be at the helm of the country until a new permanent leader is selected.
Alireza Arafi was appointed as the jurist member of Iran's Leadership Council, a body tasked with fulfilling the supreme leader's role until the Assembly of Experts elects a new leader.
He has served as President of Al-Mustafa International University from 2008 to 2018 and is a permanent member of the Supreme Council of the Cultural Revolution since 2011.
Ayatollah Ali Khamenei, who assembled theocratic power in Iran over the decades as its top leader and sought to turn it into a regional powerhouse, bringing it into confrontation with Israel and the United States over its nuclear program while crushing democracy protests, has been killed in U.S. and Israeli strikes. He was 86.
Khamenei dramatically remolded the Islamic Republic since he took the reins after the death of Ayatollah Ruhollah Khomeini in 1989. Khomeini was the fiery, charismatic ideologue who led the overthrow of the shah and installed rule by Shiite Muslim clerics tasked with spreading religious purity.
The defence ministry said three flight-trials of a very short-range air defence missile system were conducted successfully from Chandipur off the coast of Odisha.
It said the trials were carried out to "revalidate" the capability of the VSHORADS (Very Short-Range Air Defence System) missile system in neutralising high-speed threats flying at varying speed, range, and,
The VSHORADS is a man-portable air defence system designed and developed indigenously by Research Centre Imarat (RCI) in collaboration with other DRDO (Defence Research & Development Organisation) laboratories and Indian industry partners.
The Tamil Nadu government announced the launch of the State’s first Dark Sky Park at the Ariyur Shola Reserve Forest in Kolli Hills, Namakkal district.
As per an official release, a Dark Sky Park is a protected landscape with minimal artificial light pollution, enabling clear observation of celestial bodies such as the moon, stars and planets.
Officials said Kolli Hills, with its elevated terrain, dense forest cover and low urban light disturbance, offers ideal conditions for night-sky preservation and astronomical observation.
The project, announced in the Legislative Assembly on June 25, 2024, was established at a cost of Rs. 1 crore after assessing ecological suitability and sky visibility at the Ariyur Shola Reserve Forest.
Ms. Sahu said to ensure the safety of participants and the protection of the landscape, only 20 people are allowed at a time.
Southern Air Command of the Indian Air Force has successfully conducted a high-tempo joint maritime exercise, named Kalari Leap, in the Lakshadweep and Minicoy archipelago. The exercise was aimed at validating joint planning, rapid force projection and precise operational execution in complex maritime environments.
The Kalari Leap exercise was validating Southern Air Command’s strength in rapid force projection and precision execution in a challenging maritime environment. The Armed Forces Special Operations Division and the Indian Coast Guard also participated in the Kalari Leap joint exercise along the Lakshadweep area.
Jio Finance Platform and Service Ltd (JFPSL), a wholly-owned subsidiary of Jio Financial Services Ltd (JFSL) launched it’s new mobile app ‘Finsider’, according to a statement. The company is running an early access programme through which users will have the opportunity to experience the app and share feedback.
The new app leverages Agentic AI and Neural Networks to offer a hyper-personal, instantaneous, and always-on financial experience to users, according to the company.
Jio Finance is essentially the distribution platform of JFS. The ‘Finsider’ app will provide users access products from JFSL group companies and other finance brands.
Central Bank of India has entered into a Distribution Agreement with Canara Robeco Asset Management Company Limited (CRAMC) to offer its mutual fund products to the bank’s customers.
Through this arrangement, customers of Central Bank of India will have the opportunity to diversify their savings and participate in various mutual fund offerings.
The agreement enables Central Bank of India to distribute a wide range of mutual fund schemes managed by Canara Robeco AMC, providing customers with expanded investment opportunities and access to professionally managed financial products.
Sri Lanka’s first-ever Blue Bond, an LKR 3 billion issuance by DFCC Bank has been dually listed on the NSE International Exchange (NSE IX) at GIFT City, marking the first blue bond to be admitted for trading within India’s International Financial Services Centre (IFSC) jurisdiction.
The dual listing has been facilitated under a Memorandum of Understanding exchanged between NSE IX and the Colombo Stock Exchange at GIFT City on Friday, which is aimed at strengthening cross-border capital market collaboration, enabling dual listings, and promoting innovative financial products across jurisdictions.
Primarily listed on the Colombo Stock Exchange (CSE), the bond’s admission on NSE IX expands its international visibility and investor access, while reinforcing GIFT City’s growing role as a platform for sustainable finance instruments.
Sarvam AI has partnered with SBI Life Insurance Co. Ltd. to roll out advanced artificial intelligence solutions across the insurer’s extensive distribution network, which serves more than 8 crore customers and 3.5 lakh distributors across India.
The partnership is aimed at taking AI beyond experimentation and embedding it into full-scale operational workflows. The deployment will leverage Sarvam’s Samvaad conversational AI platform and its Arya multi-agent orchestration system to enable seamless automation across customer servicing and agent support functions.
In a move to sharpen its anti-submarine warfare capabilities, the Indian Navy on February 27, 2026 commissioned its fourth indigenously designed and built Anti-Submarine Warfare Shallow Water Craft (ASW SWC) INS Anjadip at Chennai Port.
It was commissioned by the Chief of the Naval Staff, Admiral Dinesh K. Tripathi, in the presence of senior naval officials.
The vessel, which is 77 metres long, has been specially designed to detect, track, and neutralise enemy submarines in coastal waters. It was named ‘Anjadip’ to carry forward the valour of the historic island off the coast of Karwar. The ship is equipped with indigenous anti-submarine warfare weapons and sensor package.
National Science Day is being celebrated across the country today. The day is observed every year on the 28th of February to commemorate the discovery of the ‘Raman Effect’ by the eminent physicist Sir C.V. Raman. Sir Raman was awarded the Nobel Prize in 1930 for this groundbreaking discovery.
National Science Day features a variety of theme-based science communication activities held throughout the country.
The Union Ministry of Science and Technology’s Department of Science and Technology will host the national-level celebration at Vigyan Bhawan in New Delhi. The theme for this year is “Women in Science: Catalysing Viksit Bharat.”
