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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 Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers.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.
August 27, 2026
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
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Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
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Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
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Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
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Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
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Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
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Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
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Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.
August 27, 2026
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Cyber fraud awareness promotes safe digital banking by teaching customers to verify communications, protect credentials, and report suspicious transactions.
Cyber-fraud awareness and digital banking safety were promoted through community sessions addressing phishing, impersonation, OTP and UPI fraud, QR-code scams, digital-arrest fraud, and fraudulent customer-care calls. Participants were guided to identify authentic banking communications, avoid sharing confidential credentials, verify callers and links before acting, and promptly report suspected unauthorised transactions. Customer vigilance, financial literacy, and institutional security measures were emphasised as complementary safeguards against digital financial fraud.
August 27, 2026
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Personal insolvency repayment plans may be approved despite minimal creditor recovery when requisite voting support and comparative valuation support them.
Personal insolvency repayment plan approval was granted under the Insolvency and Bankruptcy Code, 2016, despite objections that creditor recoveries were negligible and the proposed payment uncertain. The plan received 80.81 per cent voting support, while dissenting creditors held less than 20 per cent voting share. Valuation showed that the debtor's personal estate was materially below the offered amount, and rejection could result in bankruptcy and lower recovery. Assessment of settlement adequacy was treated as a matter of creditor commercial wisdom.
August 27, 2026
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Prison escape security lapses prompt coordinated tracing measures, transport monitoring, inter-state alerts, and a detailed custodial-security inquiry.
Prison escape and custodial-security lapses arose after a detainee escaped from Aluva Sub Jail, allegedly by using an under-construction structure within the premises to cross the compound wall. Following his later appearance at a police station seeking return of his Aadhaar card, search measures included a lookout circular, information sharing with police stations, railway-security coordination, and alerting police in Assam. A detailed inquiry has been initiated into the prison-security deficiencies enabling the escape.
August 27, 2026
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Women's savings account selection depends on practical benefits, charges, eligibility, and banking needs rather than the account label.
Women's Savings Accounts may provide standard banking facilities together with additional services or benefits for eligible women. Their suitability depends on practical use of digital banking, transfers, payments, alerts, debit-card facilities, accessibility, security features, charges, and minimum-balance conditions. Since regular Savings Accounts may offer comparable facilities, the additional benefits should be assessed against associated costs and conditions. Selection should be based on comparison of eligibility, facilities, balance requirements, benefits, customer support, and authentication safeguards rather than the account's women-focused label alone.

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Customs, DGFT & SEZ

Government Approves Eight (8) Proposals of Foreign Direct Investment Amounting to about Rs.1311.54 Crore

July 3, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on June 14, 2013, the Government of India has approved eight (8) Proposals of Foreign Direct Investment amounting to Rs. 1311.54 crore approximately.

Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 14.06.2013 are as follows:        

Following 8 (Eight) proposals have been approved:

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Euronet Services India Pvt. Ltd.

Company having FDI to set up White Label ATMs.

Nil

2

M/s Shaastra Securities Trading Pvt. Ltd., Gurgaon

To make downstream investment in the proposed Wholly Owned Subsidiary to undertake the activity of Commodity broking & trading in the commodity exchanges.

2.87

3

M/s Srei Infrastructure Finance Limited, Kolkata

To undertake an additional activity of setting up White Label ATMs (WLAs) in India.

No Fresh Inflow

4

M/s Mahle Holding India Pvt. Ltd.

Investing company having 100% FDI proposes to bring in more investment.

280.00

5

M/s Aveva Solutions Limited, UK

To set up a LLP to provide software development and IT enabled services.

8.39

6

M/s Flemingo Duty Free Shop Pvt. Ltd.

To operate Electronic Duty Free Shop at International Arrival and Departure Terminal at Cochin International Airport and also a Duty Free Shop at APM terminal at Pipavav Port.

Nil

7

Md. Rabiul Alam, Bangladesh

To set up a new company in India with 100 percent FDI to carry out the business of production of engineering products.

20.28

8

M/s Telenor Mobile Communication AS, Norway

To set up a JV company in telecom sector.

1000.00

        The following 10 (Ten) proposals have been deferred

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Indostar Capital Finance Pvt. Ltd., Mumbai

A Systemically Important Non-Deposit Taking Non-Banking Financial Company to set up a subsidiary company and sponsor a debt fund under SEBI (AIF) Regulations.

2

M/s Muthoot Finance Limited, Kerala

Company having FDI to set up White Label ATMs.

3

M/s Scripbox.com India Pvt. Ltd., Bangalore

Indian company acting as facilitator of investments into mutual funds (other financial Services not mentioned in the FDI policy) proposes to receive foreign investment.

4

M/s AU Housing Finance Limited, Jaipur

To increase direct and indirect foreign investment up to 95%, without meeting the minimum capitalization norm of USD 50 million. The company is engaged in the business of providing housing loans, primarily in the un-served, unreached and under-served market mainly in low income states of India.

5

M/s Soma Tollways Pvt. Ltd.

Post facto approval for increase in foreign equity in the investing company.

6

M/s Conrad Horler, Karnataka

A Foreign citizen (NR) proposes to set up a multimedia LLP.

7

Mr. Ramneek Singh, Amritsar

To set up an LLP with foreign equity to undertake agri-export business.

8

M/s Octania Aerostructure Group Pvt. Ltd., New Delhi

To issue equity shares in lieu of technology transfer/know how.

9

M/s Jaguar-Max Security Solutions Pvt. Ltd., New Delhi

Induction of foreign investment upto 49% in an Indian company engaged in Private Security Services.

10

M/s Jet Airways India Ltd.

An Indian Air Transport Service sector company to make a preferential allotment of 24% of equity shares to a foreign airline. The foreign airline proposes to subsequently transfer the same to its WoS.

         The following 6 (Six) proposals have been rejected: 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Alliance Insurance Brokers Private Limited, Mumbai

Induction of foreign equity by way of issue and transfer of equity shares to carry out the business of insurance broking.

2

M/s Highdell Investment Ltd., Mauritius

Induction of foreign equity in an investment holding company.

3

M/s NREC Railway Equipments India Private Limited, Delhi

Post facto approval for issuance of equity shares against pre-operative expenses borne by the foreign collaborator. The company is engaged in the business of manufacturing locomotives and their parts.

4

M/s Snap Networks Pvt. Ltd., Karnataka

Post facto approval for issuance of partly paid up shares to an NRI. The company is engaged in the business of development of technology with respect to Wireless sound systems.

5

M/s Multi Commodity Exchange of India Pvt. Ltd.

Engaged in the business of trading in commodities.

6

M/s Marjan Motors Private Limited, Chennai

Post facto approval for allotment of shares against pre incorporation expenses remitted by foreign investor to the third party in India.

 The following 2 (Two) proposals have been advised to access automatic route

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Avis India Investments Pvt. Ltd.

A foreign owned (WoS) Indian company, engaged in renting or leasing (other than financial leasing) of motor vehicles proposes to increase its stake in a downstream, engaged in the same business, by acquisition of shares from the partner.

17.61

2

M/s Dewsoft Fabrication Private Limited, New Delhi

A defence sector company to transfer 26 % holdings to a foreign company against technology transfer fee payable to the foreign company.

Nil

The following 01 (One) proposal has been withdrawn from the Agenda:          

Sl. No

Name of the applicant

1

M/s ICICI Venture Funds Management Company Ltd., Mumbai

In respect of the following 1 (One) proposal, the applicant has been advised to apply for approval

Sl. No.

Name of the applicant

Particulars of the proposal

1

M/s Cable & Wireless Networks India Pvt. Ltd.

Intimation regarding overseas group restructuring in internet infrastructure Company without change in approved FDI/cap/investor.

In respect of the following 1 (One) proposal, the applicant has been advised that part (a) has been rejected and part (b) and (c) would not require post facto approval as the sector is on automatic route

5

M/s Abicor Binzel Production (India) Pvt. Ltd., Pune

(a) Conversion of overseas loan and interest thereon into share application money in FY 2003-04 and subsequently issuing of 30,000 equity shares of Rs. 1000/- each at par value in month of June 2008.

(b) Post facto approval for transfer from Resident to Non- residents of 36 equity shares of Rs. 1000 each at par during the year 1999 and 2000; and

(c) Post facto approval for issue of 4964 equity shares of ` 1000 each at par value on February 5, 2002 to non-residents.

Decision in case of the following 1 (One) proposal will be communicated separately: 

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s Stemcor Holdings Limited

An International steel trading group having a majority owned mining and a WoS in manufacturing in India is restructuring its holdings and through a swap of shares proposing to hold its manufacturing activity as a downstream entity of its mining subsidiary.

Nil

  DSM/RS/ka

(Release ID :96989)

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