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    Good corporate governance central to India's development: Jitendra Singh
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August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
August 28, 2026
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.

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Skill Development Needed to Fill the Significant Gap between the Actual Skills of Large Number of Candidates Passing Out from Various Schools, Colleges and Professional Institutions Across the Country and the Skills Needed in the Industry; Business and Corporate Houses Must Work Closely with NSDC to Achieve Theambitious Target of Providing Skills to 500 Million People in Ten Years: FM

June 27, 2013

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The Union Finance Minister Shri P. Chidambaram said that skill development is needed to fill the significant gap between the actual skills of large number of candidates passing out from various schools, colleges and professional institutions across the country and the skills needed in the industry. The Finance Minister Shri Chidambaram said that we have set-up an ambitious target of providing skills to 500 million people in ten years meaning thereby that 50 million people are to be skilled every year, which is a huge challenge in itself. He said that Business and corporate houses must work closely with NSDC to achieve this target. The Finance Minister was addressing the Board of National Skill Development Corporation (NSDC) here today. The Finance Minister Shri Chidambaram said that since NSDC works with industry, therefore, it is industry which should drive NSDC agenda and not vice versa. The Finance Minister said that the Prime Minister has set-up a Cabinet Committee on Skill Development in order to overall coordinate and monitor the progress of skill development programmes in different sectors among others. He said that the Government is committed to skilling as it helps people not only in finding-out right vocation for themselves but also helps in giving them self confidence. Dr Arvind Mayaram, Secretary, Department of Economic Affairs, Shri S. Ramadorai, Chairman, NSDC and Shri S.K. Das, Additional Secretary, Department of Economic Affairs were present among others in the meeting.

Later, the Finance Minister Shri Chidambaram flagged off the Indian Delegation consisting of 24 participants who will be participating in 22 skills during the World Skills Competition scheduled to be held in Leipzig, Germany from 2–7 July 2013. Overall 54 countries will participate in 46 skills with more than 1,000 competitors, 970 experts, 252 interpreters, 53 official delegates and 116 team leaders in the said competition this year.

Participants in the aforesaid World Skills Competition have been selected through an intense pan-India selection process, through a combination of mentoring and rigorous training. Thereby, competitors have not only been trained to be the best in their field within India, but via various innovative stimulus methods, been exposed to the global standards of skill development – being trained and nurtured not only in their skill, but mentally honed to think globally like winners. India is participating in a range of skills like Electronics, CNC Turning & Milling, Mechatronics, Welding, Plastic-die Engineering, Beauty Therapy, Hair Dressing, Restaurant services, Cooking, Confectionary, Graphic Design, Fashion Technology, Jewelry, Information & Communication Technology, Engineering Technology, Car Painting, Auto Body Repair and Automobile Technology

Regarded as the Skills Olympics, every two years, the World Skills Competition brings together from across the world more than 1,000 youth below 23 years, to compete in a variety of skills ranging from welding to web designing.

Announcing the formation of the National Skill Development Corporation(NSDC) in the Budget Speech 2008-09, the Finance Minister Shri P Chidambaram had observed: “...There is a compelling need to launch a world-class skill development programme in mission mode that will address the challenge of imparting the skills required by a growing economy.”

Speaking about the upcoming event in Leipzig, Germany from 2–7 July 2013, Shri S. Ramadorai, Chairman, National Skill Development Corporation (NSDC) commented: “Regular participation in this global event can go a long way in ensuring India’s youth benchmark their vocational skills against the best of the best worldwide. Periodic exposure to global competitions will soon help us prove our youth are second to none when given a level playing field.”

World Skills India is the official body representing the nation at the World Skills Leipzig 2013. Since 2011, the NSDC has spearheaded the Indian participation at World Skills International Competitions. This is the second year that India will be participating in an organized manner. It is also the first time that World Skills India has had a full two years to prepare for the competitions. The decision to participate in World Skills International Competitions is in sync with the Government of India’s philosophy of using every platform to make Indian youth aspire for vocational skills.

The objectives of participation are threefold:

• Make skills respected and inspirational among India’s youth.

• Benchmark Indian norms to global standards.

• Create a talent pool of experts in India with global exposure to international methods, processes and action.

Going beyond education, ‘skilling’ is about self-reliance and optimization of the self. With the correct impetus and a well-charted roadmap, there is nothing to prevent India’s youth from becoming a global workforce to reckon with.

As a one of its kind, Public Private Partnership in India, the NSDC aims to promote skill development by catalyzing the creation of large, quality, for-profit vocational institutions. Accordingly, it provides funding to build scalable, for-profit vocational training entities. Its mandate also extends to enabling support systems such as quality assurance, information systems and training-the-trainer academies.

DSM/RS/KA

(Release ID :96824)

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