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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.
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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.
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
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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.
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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.
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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.

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Corp. Laws, SEBI & IBC

Government Approves Fifteen (15) Proposals of Foreign Direct Investment Amounting to About Rs. 2000.49 Crore

September 27, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately.

In addition, two proposals viz., M/s IDFC Trustee Company Ltd., as proposed Trustee for India Infrastructure Fund II, Mumbai and M/s Mylan Inc. USA amounting to Rs.10668.00 crore, have been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).

Details of proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 27th August, 2013 :

Following 15 (Fifteen) proposals have been approved :

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

1

M/s Grupo Massimo Dutti, S.A.

M/s Grupo Massimo Dutti S.A., Spain proposes to form a JV in India to engage in retail trading of Massimo Dutti brand clothing, apparel, footwear, accessories, fragrances and cosmetic products.

2.13

2

M/s Michelin India Tamil Nadu Tyres Pvt. Ltd., Tamil Nadu

An LLP with 99% FDI is proposed to be set up in tyre-related R&D and testing by a Swiss Company investing in Michelin tyre companies.

0.049

3

M/s Universal Salvage Limited, England

M/s Universal Salvage Ltd., proposes to set up an LLP with 99.999% FDI in its own business domain of provision of auctioneering services of total loss/ used/damaged vehicles.

6.38

($ 9,99,990)

4

M/s Deep Care Health Pvt. Ltd., Gujarat

Fresh issue of 40% equity shares in an existing Pharma Company, M/s Deep Care Health Private Limited to a foreign investor, M/s Rohto Pharmaceutical Company Limited, Japan for product diversification.

15.33

5

M/s Jubilant Pharma Pte Ltd., Singapore

M/s Jubilant Pharma Pte Ltd, Singapore has sought approval for setting up a wholly owned subsidiary in India, which will engage in brownfield pharma activities.

1145.10

6

M/s Laurus Labs Pvt. Ltd., Hyderabad

M/s Laurus Labs Private Limited, Hyderabad, a foreign owned and controlled Indian company proposes to acquire shares held by two non-resident entities in an existing pharma company, M/s Viziphar Biosciences Private Limited.

0.45

7

M/s Premier Medical Corporation Limited, Mumbai

A brownfield Pharma company proposes infusion of further capital from its existing foreign investor.

90.00

8

M/s Advanced Enzyme Technologies Ltd., Mumbai

M/s Advanced Enzymes Technologies Limited, an existing Pharma Company, proposes to receive foreign investment pursuant to an IPO and an offer for sale.

200.00

9

M/s Ferring Pharmaceuticals Pvt. Ltd.

M/s Ferring BV (Foreign company) proposes to infuse additional capital into M/s Ferring Therapeutics Pvt. Ltd. through its 100 % subsidiary M/s Ferring Pharmaceuticals Pvt. Ltd.

48.90

10

M/s Pama Machine Tools India Pvt. Ltd., New Delhi

M/s PAMA Machine Tools India Pvt. Ltd., a heavy engineering sector company, has sought post facto approval for issuance of partly paid up shares to its foreign parent, M/s PAMA Spa, Italy.

0.77

11

M/s Axiom Consulting Pvt. Ltd.

Approval has been sought for issue of shares at a pre-agreed priceof an IT company to a director who is a foreign national.

0.19

12

M/s Endeka Ceramics India Pvt. Ltd., Bangalore

M/s Endeka Ceramics India Private Limited, Karnataka is a WOS of M/s Endeka Ceramics Holding 1 SLU, Spain. It proposes to issue Compulsory Convertible Preference Shares (CCPS) in lieu of its parent meeting the expenses of its offshore bank guarantees being invoked.

Nil

13

M/s Fresenius Kabi India Private Limited

M/s Fresenius Kabi India Private Limited, an existing pharma company proposes to issue equity shares to Fresenius Kabi AG, Germany, its parent company.

35.00

14

M/s Symbiotec Pharmalab Limited, Madhya Pradesh

An existing pharma sector company proposes to transfer and issue equity shares upto a maximum of 70.86% to a foreign company.

306.19

15

M/s Lotus Surgical Specialities Private Limited, Mumbai

M/s Lotus Surgical Specialities Private Limited, an investing company proposed to issue/transfer of shares to M/s Samara Capital Partners Fund II Limited (foreign investor) and make downstream investment in M/s Lotus Surgical Private Limited.

150.00

The following10 (Ten) proposals have been deferred :

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s XeoInfosoft Pvt. Ltd., Bangalore

A software consultancy Company proposes to grant 50% ownership of equity to a Bangladeshi IT professional in order to tap his expertise.

2

M/s Australia Asia Resources LLP, USA

M/s Australia Asia Resources LLC, USA proposes to set up an LLP to carry out marketing and technical support services for sale of thermal and metallurgical coals and related commodities.

3

M/s Marketvistas Consumer Insights Pvt. Ltd., (SoniyaMahajani), Mumbai

M/s Marketvistas Consumer Insights Private Limited, Mumbai, the Investee company, engaged in market research has sought post-facto approval for issuance of partly paid up shares to M/s Rewhyer Limited, UK.

4

M/s JM Financial Limited, Mumbai

M/s JM Financial Limited, an Indian Core Investment company proposes to issue warrants to Mr. Vikram Shankar Pandit, an NRI, on a preferential basis.

5

M/s OriflameIndia Pvt Ltd

Post facto approval has been sought by M/s Oriflame India Pvt Ltd for amalgamation with its own group company M/s Silver Oak Laboratories Pvt Ltd, both involved in direct marketing of cosmetics and toiletries.

6

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

The applicant, a NR entity proposes to purchase 50% of the shares in an existing broadcasting company with 100% FDI, from another existing NR investor.

7

M/s HBO India Pvt. Ltd., New Delhi

An Indian company, viz., M/s HBO India Pvt. Ltd, New Delhi having foreign investment proposes to engage in the activities of down-linking non-news and current affairs television channels.

8

M/s INX Music Pvt. Ltd., Mumbai

M/s INX Music Private Limited, a company which aggregates and distributes music content for TV channels, having 70.85% indirect foreign investment proposes to undertake the additional activity of broadcasting of non-news and current affairs channels.

9

M/s Hindustan Coca-Cola Holdings Pvt. Ltd.

The Coca-Cola Holding company in India, which is fully foreign owned, is seeking post-facto approval for FDI inducted in the holding company during 2010-2011.

10

M/s Dhanlaxmi Infrastructure Pvt. Ltd., Gujarat

A NR company proposes to transfer its holding in an Indian Infrastructure company to its own group company before the completion of the 3 year lock-in-period.

 The following 3 (Three) proposals have been rejected :

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Rational Resources Ltd., Malta

M/s Rational Resources Ltd., Malta proposes to set up a WoS in India to support adapting and localising land-based, mobile and online poker game.

2

M/s India- Pacific Alliance Pvt. Ltd., Mumbai

M/s India- Pacific Alliance Pvt Ltd has sought post facto approval for issuance of shares to Pacific Alliance Capital Group, USA against pre-operative expenses borne by its erstwhile group company, M/s Pacific Alliance International.

3

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

M/s Financial Software and Systems Private Limited, an Indian financial software transaction processing solutions company, having 43.56% FDI proposes to engage in the additional activity of setting up, owning and operating White Label ATMs.

The following 3 (Three) 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 Quest Global Defence Engineering Services Pvt. Ltd., Bengaluru

M/s Quest Global Defence Engineering Services Pvt Ltd, Bengaluru (Investee Company) proposes to issue 26% equity to M/s Quest Global Services Pte Ltd. (foreign investor) to engage in defence-related IT and ITES engineering services.

0.26

2

M/s Boeing Cyprus Holdings Ltd., Cyprus

M/s Boeing Cyprus Holdings Ltd, Cyprus proposes to form a WoS in India, to engage in technical and consultancy services in the defence sector.

2.5

3

M/s Eurocopter India Pvt. Ltd. (FC.II: 86/2012)

M/s Eurocopter India Private Limited, a WoS of the French helicopter manufacturer, having obtained FC approval for 100% FDI in helicopter-related IT services, requests for deletion of two of the conditions mentioned in FC approval which were imposed as their clients included defence sector clients.

Nil

The following 02 (Two) proposals were withdrawn:

Sl. No.

Name of the applicant

1

M/s Aluchem Inc., USA

2

M/s Metalsa India Pvt. Ltd., New Delhi

The following 02 (Two) proposals have been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs.1200.00 crore:        

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. in crore)

1

M/s IDFC Trustee Company Ltd. As Proposed Trustee for India Infrastructure Fund II, Mumbai

An Indian company (M/s IDFC Trustee Company Ltd.) has sought approval to set up an AIF category I and for receiving contributions from international investors.

5500.00

2

M/s Mylan Inc. USA

A major US pharma group having Indian subsidiaries proposes to acquire another Indian pharma company engaged in manufacture of generic pharmaceutical products.

5168.00

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

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Cardolite Specialty Chemicals India Pvt. Ltd., Chennai

Conversion of a wholly foreign owned Indian Company into an LLP to be engaged in making industrial products using cashew nutshell liquid technology, followed by further infusion of capital.

 

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