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Banks urged to switch to quantum resistant encryption before computers crack today’s codes

Banks urged to switch to quantum resistant encryption before computers crack today’s codes

The finance ministry has asked India’s public sector banks to explore quantum-resistant encryption as a shield against future quantum computing threats. Experts say quantum computers could eventually break today’s widely used encryption. The push aligns with the National Quantum Mission’s work on quantum communication networks, aiming to keep financial systems secure as the technology landscape shifts.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
46th GST Council meets Dec 31 to discuss merging 12 and 18 slabs

46th GST Council meets Dec 31 to discuss merging 12 and 18 slabs

The 46th GST Council meeting is set for Dec 31, with rate rationalisation on the agenda. India’s current four-tier structure (5, 12, 18, 28%) and separate cess on luxury and demerit items are facing calls to merge the 12% and 18% slabs and possibly move some items out of the exempt category to balance revenue impact.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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August GST collection jumps 28 percent to Rs 1 44 lakh crore for sixth straight month

August GST collection jumps 28 percent to Rs 1 44 lakh crore for sixth straight month

India’s GST mop-up rose sharply in August 2022, with gross revenues of Rs 1,43,612 crore—up 28% year-on-year, according to the Finance Ministry. The result pushed monthly GST collections past Rs 1.4 lakh crore for the sixth consecutive month, underscoring sustained momentum in tax collections despite shifting economic conditions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
October GST collection hits Rs 1.52 lakh crore second highest ever since GST rollout

October GST collection hits Rs 1.52 lakh crore second highest ever since GST rollout

GST collection for October clocked in at about Rs 1.51 lakh crore, marking the second-highest monthly figure since the implementation of the Goods and Services Tax. The finance ministry had anticipated collections would finally surpass the Rs 1.5-lakh-crore threshold in October, and the results landed just above that mark.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Finance Ministry to expand Actuaries Act bringing data science and risk management into rulebook

Finance Ministry to expand Actuaries Act bringing data science and risk management into rulebook

The Finance Ministry plans to update the Actuaries Act, 2006, widening the definition of actuarial science to include data science and risk management. It also proposes a new regulatory framework for actuarial firms. The bill is expected during the monsoon session, with stakeholder consultations already underway to shape the changes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Public bank recruitment exams overhaul announced with SBI results first to cut attrition

Public bank recruitment exams overhaul announced with SBI results first to cut attrition

The Finance Ministry has revised recruitment examination and result-declaration timelines for public sector banks to streamline processes and boost transparency. Under the new sequence, SBI will announce results first, followed by nationalised banks, and then regional rural banks. The change is intended to reduce candidate attrition and support better workforce planning across these institutions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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GST collections jump 26 percent to Rs 1 47 lakh crore in September

GST collections jump 26 percent to Rs 1 47 lakh crore in September

India’s GST collections surged 26% in September, reaching over Rs 1.47 lakh crore, the finance ministry said. The monthly mop-up has stayed above Rs 1.40 lakh crore for seven consecutive months, signaling sustained tax collections amid the ongoing push to grow compliance and stabilize revenues.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Centre to borrow Rs 8.20 lakh crore from market in FY27 first half

Centre to borrow Rs 8.20 lakh crore from market in FY27 first half

The Centre plans to raise about Rs 8 lakh crore via dated securities between April and September 2026-27, the finance ministry said. The borrowing is aimed at funding the government’s revenue gap. The move highlights how fiscal needs are being met ahead of the first half of the next financial year, potentially shaping bond market expectations.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India government closely tracks global commodities as Russia Ukraine shock hits oil markets

India government closely tracks global commodities as Russia Ukraine shock hits oil markets

India’s finance ministry says it is closely monitoring global commodity price swings triggered by the Russia Ukraine war, especially pressures affecting crude oil costs. Minister of State for Finance Pankaj Chaudhury added the government supports moves to release from Strategic Petroleum Reserves, aiming to reduce volatility and help calm rising fuel prices in markets.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget push gathers industry input on tax rates base and duty structure

Budget push gathers industry input on tax rates base and duty structure

Ahead of the Union Budget process, the Finance Ministry has invited suggestions from industry and trade bodies on possible changes to duty structures, tax rates, and the broadening of the tax base. The communication covers both direct and indirect taxes and asks stakeholders to provide economic justifications for proposed changes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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