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August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.
August 20, 2026
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Responsible AI banking requires human oversight, explainable customer decisions, fair conduct, resilient systems and inclusive credit access.
Responsible AI in banking must promote inclusion, resilience and customer trust while preserving human judgement, governance accountability and clear responsibility. AI and alternative data may widen access to credit where data is obtained with consent, tested for reliability and bias, and used prudently. Banks must maintain capacity to challenge models, oversee providers, test systems under adverse conditions and intervene when automation fails. Material customer decisions must be explainable, clearly communicated and subject to review by an authorised person. Fair conduct, meaningful disclosure, impartial complaint review and transparent communication remain essential throughout the customer relationship.
August 20, 2026
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Multi-Currency EEFC settlements let exporters retain foreign earnings and choose conversion timing for overseas payment obligations.
Multi-Currency EEFC Account settlements enable exporters and international businesses to receive payment settlements directly into Exchange Earners' Foreign Currency accounts in the original transaction currency without immediate conversion into Indian rupees. Retention of foreign currency earnings permits businesses to choose when conversion is required, reducing repeated foreign-exchange conversion cycles and supporting management of foreign-currency cash flows and overseas obligations.
August 20, 2026
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Power semiconductor foundry expansion targets Indian fabless customers through technology showcasing, process development, and collaboration in the growing semiconductor market.
DB HiTek seeks to expand foundry business with Indian fabless semiconductor companies by showcasing power semiconductor and specialised process technologies. Its commercial focus includes BCD processes for automotive and industrial applications, together with silicon-carbide and gallium-nitride process development and planned volume production. Product-performance evaluations are underway with strategic customers. Customer expansion also covers X-ray, global-shutter, single-photon avalanche diode, specialty CIS, and mixed-signal/RF processes, supported by collaboration with local fabless firms.
August 20, 2026
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Money-laundering allegations over payments without services raise concerns about overseas transfers, identity-linked communications, and mineral smuggling.
Money-laundering allegations concern claimed payments by Cochin Minerals and Rutile Ltd. to Exalogic Solutions Pvt. Ltd., a company promoted by Veena T., without corresponding services. Searches reportedly yielded handwritten material referring to fund transfers to Dubai and digital material relating to a SIM card obtained in another person's name. Further allegations included overseas fund movement, hawala transfers, and possible thorium or monazite smuggling, all presented as allegations requiring examination.
August 20, 2026
Show AI Summary
Exchange stabilisation support aims to strengthen foreign-exchange resilience, reduce rollover dependence and restore access to longer-term market financing.
Pakistan has sought a proposed Exchange Stabilisation Support Facility to reinforce foreign-exchange stability and signal currency resilience to international capital markets. The strategy seeks to reduce reliance on short-term bilateral loans, deposits and rollovers by moving towards market-based financing with longer repayment periods. Improving sovereign creditworthiness through engagement with credit-rating agencies is intended to facilitate international market access, lower borrowing costs and enable longer-maturity debt raising.
August 20, 2026
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Elephant ivory trade prohibition supports enforcement against wildlife trafficking, seizure of carved ivory articles, and further investigation.
Illicit trade in elephant ivory and articles manufactured from it is prohibited under the Wildlife (Protection) Act, 1972, supporting India's CITES obligations. Enforcement action against a wildlife-trafficking syndicate resulted in the interception of four persons and seizure of 54 carved ivory artefacts. The seized articles and apprehended persons were transferred to the State Forest Department for further investigation. The action forms part of continuing measures against unlawful trade in wildlife derivatives and biodiversity threats.
August 20, 2026
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Trade deficit pressures persist as energy-import costs and currency weakness offset record automobile and electronics export growth.
Japan recorded its highest July import and export values since comparable statistics began, but continued to experience a trade deficit as rising energy costs increased import expenditure. Higher crude oil prices and disruption to Middle East supply routes affected an economy reliant on imported oil, while a weak yen raised the cost of fuel, food and raw materials. Strong automobile, semiconductor and electronics exports benefited from currency weakness, which also increased the yen value of overseas earnings.
August 19, 2026
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Forged health-scheme cards allegedly enabled ineligible treatment and misuse of public healthcare funds through false beneficiary details.
Alleged misuse of Ayushman health-scheme cards involved collecting identity and ration-card details by promising free treatment, then creating forged beneficiary cards with false particulars. The alleged scheme enabled treatment for ineligible persons and purported claims of government health-scheme funds. Police arrested five persons, recovered purported forged identity and beneficiary cards, and are investigating possible involvement of hospital and medical-office personnel, the scale of card forgery, and alleged diversion of public funds.
August 19, 2026
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MSME competitiveness requires affordable credit, technology adoption, formalisation, sustainable trade and stronger export-market access for inclusive growth.
MSME development is identified as central to employment generation, exports, entrepreneurship, economic resilience and self-reliance. Key priorities include affordable credit, technology upgradation, supply-chain integration, market access, brand-building and reduced red tape. Formalisation of micro industries is emphasised to expand institutional credit access, while sustainable trade is promoted through green technologies and renewable energy. Export competitiveness is to be strengthened through regional production capabilities and the "One District, One Export Hub" initiative.
August 19, 2026
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Supply-side inflation risks support a policy pause pending evidence of broad-based, persistent price pressures and de-anchored expectations.
Monetary policy calibration remained on hold because food and fuel inflation had not yet produced broad-based or persistent price pressures. The policy pause was supported by limited pass-through of supply-side shocks, contained core inflation and no clear demand-driven overheating. Recalibration depends on incoming evidence of persistent inflation, entrenched supply-side pressures, de-anchored expectations and the evolving growth-inflation dynamic. Geopolitical disruption, volatile oil prices, monsoon conditions and El Nin o-related agricultural risks remain material inflation risks.

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News and Press Release

Anand Sharma and UP CM Launch DMIC Project in uttar Pradesh

March 3, 2014

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Anand Sharma and UP CM Launch DMIC Project in uttar Pradesh

UP to Create 30 Lakh Jobs and Industrial Output Worth 24 Lakh Crore Due to New Initiatives

The Union Minister of Commerce and Industry,  Shri Anand Sharma and Chief Minister of Uttar Pradesh, Shri Akhilesh Yadav launched Delhi Mumbai Corridor in Uttar Pradesh, in Lucknow today. “Uttar Pradesh will be the main beneficiary of the Industrial Corridor strategy being pursued by Government of India as it is the meeting point of the Eastern and the Western Corridors. The entire agriculture produce of UP can be linked to cold chains and put on Western Corridor at Dadri. This will enable all agricultural products to reach the ports in record time. The overall impact of the Western and Eastern Corridors and the new Industrial Cities being developed in the Delhi-Mumbai Industrial Corridor project have the potential to create over 30 lakh jobs in UP and enhance the State’s Industrial Output by Rs. 24 lakh crores” Said Shri Sharma on the occasion.

The growth of manufacturing sector is an essential condition for sustaining GDP growth rate to 8-9% on a long term basis.  Government of India proposes to enhance the share of manufacturing sector in GDP growth from 16% to 25% within a decade and creating 100 million jobs.  In this regard, Government of India has announced the pioneering National Manufacturing Policy 2013.

The conceptualization of the DMIC project as an iconic symbol of Indo-Japan strategic partnership was made.  It has rapidly moved forward and seven new industrial cities have advanced towards implementation.

The Government has also announced three more Industrial Corridor Projects namely:

(a)  Amritsar-Kolkatta Industrial Corridor Project with Eastern Dedicated Freight Corridor as the back bone;

(b)  Chennai-Bangalore Industrial Corridor Project;

(c)  Bangalore-Mumbai Economic Corridor Project

The Industrial Corridors will lead to the development of futuristic industrial cities with transport connectivity effective and efficient technologies, reliable energy supply and efficient logistics. This will enable India to compete with the best in the manufacturing and investment estimation of the world and have the potential of radically transforming India into global manufacturing hub within a decade.

DMICDC IN UTTAR PRADESH:

Dadri-Noida-Ghaziabad Industrial City:

The vision of this 217 km. Investment Region is to develop an Infrastructure led integrated industrial city which is smart, sustainable, well connected  and having state of art support industrial and social infrastructure. The master plan has adopted the following principles:

  • Developing Industrial City of Future endowed with all the requisite physical & social infrastructure like Water, Power, housing, health, education etc.
  • Transit Oriented Development: The region to be supported by efficient mass transport system. High intensity mixed land use is proposed to be developed along major transit nodes.
  • Improved connectivity with Development of intra and inter regional connectivity has been provided as part of the overall planning process. Considering that development of investment region will augment creation of employment opportunity in the region, there would be significant requirements for improving the connectivity.
  • Focus on Recycling of water and waste and integration of smart technologies.
  • Industries in sectors viz. Food, Auto, Electrical & Electronics, IT/ITeS, Research & Development, Aerospace, Biotech and Hi tech are proposed in the investment region.

Integrated Industrial Township at Greater Noida:

The Integrated Industrial Township is planned on the area of 302 ha with the key objective to create a “knowledge based ecosystem” integrated with industries leading to innovation and economic development. The project will generate direct industrial employment for about 58,000 workers. It will be planned as the first comprehensive built environment helping the launch of DMIC Investment Region. The project will strengthen the status of Greater Noida and Noida as a manufacturing destination. It will also encourage creation and growth of new businesses by fostering collaboration and innovation, also enhancing the development, transfer, and commercialization of technology.

Integrated Transport Hub at Boraki:

The transport hub along the Delhi‐Howrah trunk rail corridor, with state‐of‐the art Multi‐modal Transit facility at Boraki Village is envisioned to be the nucleus of development for Dadri-Noida-Ghaziabad Investment Region, Greater Noida and its upcoming extensions.  The project will integrate  four transit nodes and user‐friendly regional railway terminal, a metro passenger terminal, an ISBT, and the terminal station of the proposed rapid rail connectivity between DNGIR and Delhi International Airport. It shall be supplemented by a Business Centre (equipped with office and business hotel accommodation).

Seemless connectivity between Indira Gandhi International Airport  and Dadri-Noida Ghaziabad Investment Region:

With the object of providing fast and adequate rail‐based commuter connectivity to New Delhi, various alignment options are currently being explored to provide fast connectivity from the proposed Boraki Station (catering the population of Noida, Greater Noida and proposed Dadri-Noida-Ghaziabad Investment Region) with the Indira Gandhi International airport. The need of the project has emanated from the long travel time consumed by existing Road based transport systems.

Multi Modal Logistics Hub Project at Dadri:

By virtue of industrial development there would be an immediate need of developing the multi modal logistics hub within the Investment Region. The proposed MMLH is expected to handle 1.05 million TEUs.

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Acts Income Tax