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    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
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August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
Show AI Summary
Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.

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Customs, DGFT & SEZ

Government Approves 16 Proposals of Foreign Direct Investment Amounting to About Rs.1646.875 Crore

June 18, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the Central Government has approved sixteen (16) proposals of Foreign Direct Investment (FDI) amounting to Rs.1646.875crore approximately.

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 10th May, 2013 are as follows:

Following sixteen (16) proposals have been approved:

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

1

M/s BTI Payments Private Limited, Bangalore

To set-up White Label ATMs, as an additional activity, with additional FDI to be brought in from its parent company.

108.50

2

M/s Korea Western Power Co. Ltd., Korea

To invest in an Indian investing company.

270.00

3

M/s Samvardhna Motherson International Limited

Conversion of equity shares on non-repatriable basis to repatriable basis held by the foreign investor, in an investing company.  

Nil

4

M/s Celio International Belgium

To increase participation from 51% to 100% in an Indian company engaged in the business of single brand retail trading of products.

39.50

5

M/s Vileroy & Boch AG, Germany

To invest 50% equity in a proposed JV company for to carry out the business of single brand retail trading of products.

1.12

6

M/s Multi Screen Media Pvt. Ltd

Deletion of compounding condition.

Nil

7

M/s Mylan Laboratories Ltd., Hyderabad

An existing listed Indian pharma company with FDI to acquire entire business of manufacturing from another existing Indian pharma company.

Nil

8

M/s Mylan Laboratories Limited, Andhra Pradesh

An existing listed Indian pharma company with FDI to acquire entire business of manufacturing from another existing Indian pharma company.

Nil

9

M/s Terumo Mauritius Holding Ltd

Existing pharmaceutical company to increase foreign equity participation from 74% to 100%.

90.00

10

M/s Medreich Ltd

A foreign owned Indian pharma company to convert a 50% owned downstream pharma company into a WoS by means of internal accruals.

Nil

11

M/s Darjeeling Organic Tea Estates Pvt. Ltd.

To increase foreign equity participation from 49% to 60.50% from existing and four new foreign investors to carry out the business of production, distribution and export of tea.

105.00

12

M/s SEAF International FDI, Mauritius

To make foreign investment over a period of time by subscribing to one or more classes of units of a Fund making investment in food & agriculture related sector.

22.375

13

M/s Aavishkar India Micro Venture Capital/ M/s Care Canada

Transfer of units from NR to NR in a Domestic Venture Capital Fund

Nil

14

M/s Maini Precision Products Pvt. Ltd

Deletion of conditions requiring the prior approval of DGCA as well as compounding, from the approval letter dated 05.05.2011.

Nil

15

M/s ABG Container Handling Pvt. Ltd., Mumbai

Investing company proposes to receive foreign investment for making downstream investment.

48.64

16

M/s Vijay Television Pvt. Ltd.

The existing domestic shareholding in the non-news channel business is being acquired by the foreign promoters.

961.74

 The following eight (8) proposals have been deferred:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Financial software and Systems Pvt. Ltd., Chennai

An Indian financial software transaction processing solutions company having FDI proposes to engage in the additional activity of setting up, owning and operating White Label ATMs.

2

M/s Equitas Holdings Pvt. Ltd

To increase FDI percentage in investing company by way of transfer of shares from Resident to Non-resident.

3

M/s Jeevan Telecasting Corporation Ltd

MHA has proposed for revocation of existing approval.

4

M/s Greycells Education Ltd

To issue warrant to carry out the business of educational services rendered by technical or vocational colleges, schools and other institutions.

5

M/s IL&FS Securities Services Ltd

Merger of an Indian company into another Indian company, with the approval of Hon’ble High Court Mumbai.

6

M/s Maharashtra Transmission Communication Infrastructure Limited, Mumbai

Post facto approval for issuance of FDI compliant instruments to an Indian company having foreign equity participation and other foreign investors to undertake the business of providing telecom services in the IP Category – I.

7

M/s Sterlite Networks Limited

Company engaged in the business of Infrastructure Provider Category-I (IP-I), in telecom sector to undertake additional activities and consequently proposes to reduce FDI from 100% to 74%.

8

M/s P5 Asia Holding Investments (Mauritius) Limited, Mauritius

NR to NR transfer of shares to carry out the business of (a) Broadcasting a non- news and current affairs television channel namely “StarCJ alive” Channel; (b) wholesale cash and carry trading of products; and (c) creation of home shopping content for broadcast through any and all mediums, including the channel, all within India.

The following two (2) proposals have been recommended to advise the applicant that the proposals are not within the purview of FIPB:

Sl. No

Name of the applicant

Particulars of the proposal

1

Dr. A. Jawahar Palaniappan, USA

Post facto approval for regularization of equity shares.   The company is engaged in the activity of printing magazines, telephone directories, text books, etc.

2

M/s Akzo Nobel India Ltd., Kolkata

Conversion of unsecured loan into capital grant in the chemicals & paints sector.

Decision in the following one (1) proposal has been kept in abeyance:

Sl. No.

Name of the applicant

Particulars of the proposal

8

M/s Punj Lloyd

Representation against the denial of security clearance.

 

DSM/RS/ka

(Release ID :96602) 

 

 

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