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    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
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August 6, 2026
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Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
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Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
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Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
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Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
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Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
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August 5, 2026
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August 5, 2026
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On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
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August 5, 2026
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Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
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Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
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Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
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August 5, 2026
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Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
August 5, 2026
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Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
August 5, 2026
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Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.

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Customs, DGFT & SEZ

Proposal Under Modified Industrial Infrastructure Upgradation Scheme

August 8, 2014

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The Salient features of MIIUS are as under:-

1.  Central assistance upto 50% (for North Eastern Region upto 80%) of project cost with ceiling of ₹ 50 crore, limiting sanction upto two projects per State;

2.  Project implementation by State Implementation Agency (SIA) such as, State Industrial Development Corporation with minimum mandatory contribution of 25% of the project cost (10% in case of North Eastern Region);

3. Projects are to be sanctioned to upgrade infrastructure in Industrial Estates/Parks/Areas. Greenfield projects could be supported in backward areas, including North Eastern Region (NER);

4. Release of GoI grant (in 3 Installments viz. 30%, 40% and 30%) subject to upfront other    Stakeholders’ contribution;

5.  Central grant for physical infrastructure is restricted to 25% of the grant subject to a ceiling of ₹ 12.5 crore.

The details of project proposals received and approved under MIIUS along with the funds allocated state-wise/UT-wise is given at Annexure-I.  As the projects under MIIUS have been accorded ‘in-principle’ approval; only funds have been allocated to the projects and so far have not been released or utilized. A list of project proposals received but not approved is given in Annexure-II.

Two project proposals under MIIUS were received from the state of Madhya Pradesh and both the proposals have been accorded ‘in-principle’ approval. However, there are a few proposals received after the cut-off date which are still under evaluation by Project Management Agency viz. National Productivity Council (NPC). The details of such proposals are given in Annexure-III.

The Project Management Agency appointed by this Department has been asked to expedite evaluation.

Annexure I

The Annexure - I referred to in reply to part (b) of the Lok Sabha Unstarred Question No. 4388 for answer on 8th August 2014 regarding ‘Proposal under MIIUS’

List of project proposals received and accorded ‘in-principle’ approval

S. No.

Name of the Project

State

Allocated Central Grant (Rs. Crore)

1

Industrial Area  Zuangtui, Aizawl

Mizoram

15.22

2

Bodhjungnagar Industrial Area

Tripura

41.90

3

Industrial Growth Centre, Urla, Distt. Raipur

Chhattisgarh

12.15

4

Sirgitti Engineering Cluster

Chhattisgarh

8.32

5

Industrial Infra Upgradation of IMT Manesar

Haryana

29.27

6

Industrial Infra Upgradation at IMT, Bawal

Haryana

29.27

7

Industrial Area, Kandrauri

HP

26.97

8

Industrial Area, Pandoga

HP

33.46

9

SIDCO, Industrial Growth Centre, Samba

J &K

7.45

10

Industrial Estate, Kathua

J &K

12.91

11

Devipur Industrial Area

Jharkhand

27.36

12

Tupundana Industrial Area, Ranchi

Jharkhand

8.11

13

Furniture Hub at Ernakulam

Kerala

45.44

14

Kolhar Industrial Area, Bidar

Karnataka

48.36

15

Bangalore Aerospace Park, Devenhalli

Karnataka

47.43

16

Industrial Area, Sitapur

MP

12.75

17

Industrial Area, Ujjaini

MP

12.08

18

Angul Aluminium Park

Orissa

43.01

19

Punjab Small Industries and Export Corporation Ltd. (PSIEC) Estate, Patiala 

Punjab

16.58

20

Paddy Processing Cluster, Ranga Reddy

Telangana

45.29

Annexure II

The Annexure - II referred to in reply to part (b) of Lok Sabha Unstarred Question No. 4388 for answer on 8th August 2014 regarding ‘proposal under MIIUS’

List of project proposals received but not approved

Sl. No.

Name of the project

State

1.

Powerloom Cluster at Manpur (Gaya)

Bihar

2.

Industrial Growth Centre Bhilai, Distt. Durg.

Chhattisgarh

3.

Kittur Industrial Area, Bailahongal Taluk, Belgaum

Karnataka

4.

Maholbhagyath Aliyabad Industrial Area, Bijapur

Karnataka

5.

Vasantanarasapura Industrial Area,  Tumkur

Karnataka

6.

Bommasandra Industial  Area , Anekal

Karnataka

7.

Kinfra Industrial Park, Ottapalam

Kerala

8.

Namkum Industrial Area, Ranchi

Jharkhand

9.

Kokar Industrial Area, Ranchi

Jharkhand

10.

Tatisilwai Industrial Area, Ranchi

Jharkhand

11.

Inchalkaranji and Peripheral Indust. Infra. Dev. Cluster Ltd. Distt: Kolhapur

Maharashtra

Annexure III

The Annexure - III referred to  in reply to parts (c) & (d) of Lok Sabha Unstarred Question No. 4388 for Answer on 8th August 2014 regarding ‘Proposal under MIIUS’

 List of project proposals which are still under evaluation along with reasons for pendency

Sl. No.

Name of the project

State

 Proposed Central Grant (Rs. Crore)

Reasons for Pendency

1.

Pashamylaran Industrial Area, Medak

Telengana

30.51

The State Implementing Agency (SIA) revised their project proposal and the same has been evaluated by PMA; the proposal is under consideration in the Department.

 

2.

Textile park at Addl. Amravati Industrial Area            

Maharashtra

33.55

These proposals were received after the cut-off date prescribed by this Department and therefore, could not be considered along with the proposals received on or before the due date. These are being evaluated by PMA for further consideration by the Department.

3.

Tarapur Industrial Area

Maharashtra

12.50

 

4.

Rajiv Gandhi Info Tech Park

Maharashtra

12.50

 

5.

Tamilnadu         Chamber Linkage Infra Ltd., Madurai (Convention      and Centre at Madurai)

Tamil Nadu

44.05

6.

Engineering Industry Cluster ( SIPCOT)

Tamil Nadu

60.00

7.

Chemical park under MIIUS at Howrah

West Bengal

Not mentioned

 

The information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

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