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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.
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.
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.

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Existing Indian Railways Network, its Operations and its Core Activities Will Remain with the Indian Railways Only and not Open for Privatization: Gowda

October 10, 2014

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Railways Allocated 40 Per Cent More Budget for Cleanliness

Indian Railways Taking Determined Stride Towards Running High Speed Bullet Trains

Railway Minister Inaugurates the 59th Annual Railway National Awards Function-2014 at Bangalore

The Minister of Railways, Shri D.V.Sadananda Gowda inaugurated the 59th Annual Railway National Awards Function - 2014 in Bangalore today. Also present among others on the occasion were Shri Arunendra Kumar, Chairman, Railway Board, Shri V.K.Gupta, Member Engineering, Shri Alok Johri, Member Mechanical, Shri A.K.Mital, Member Staff, Shri P.C.Gajbhiye, Secretary, Railway Board and Shri P.K.Saxena, General Manger, South Western Railway. Shri Gowda gave away National Awards for Outstanding Service – 2014 to a total number of 132 railway officers/staff from all over the country. The prestigious Govind Vallabh Pant Shield for the best overall performance amongst the best zonal railways and production units was bagged by West Central Railway (headquartered at Jabalpur).

Following is the text of the speech of the railway Minister:- 

“I wish this function gives all our railwaymen an encouragement to work hard, work efficiently and work innovatively to bring smiles on the faces of our travelling passengers and our freight customers. In our rich and eventful journey of 161 long years, we have covered many significant milestones. The old has given way to the new and we have embarked on the path of modernizing every aspect of Railway operations. We are working on high speed rail corridors, on new designs of more efficient wagons, on the most efficient anti- collision devices like TCAS and TPWS, on new methods for ultrasonic detection of rail fracture to avoid derailments. We are progressing on dedicated freight corridor aimed at transforming goods movement in the country. We run superfast trains like Shatabdi and Rajdhani and are taking determined stride towards running High Speed bullet trains. We can boast of Engineering marvels like Jammu & Kashmir rail link and railway projects in North Eastern region; Computerized passenger reservation system and ticket booking through internet is getting a boost. In fact all aspects of Railway working,  be it improvement in productivity, economy in expenditure, increasing railway earnings, curbing ticketless travel, improving operations, maintaining and improving the life of assets and aspects of security/safety, developing world class stations, completion of crucial projects – right from policies to processes and procedures have seen major initiatives and innovations these days.

Our new government at the centre got a thundering mandate from the people of India and under the leadership of our Prime Minister, Sri Narendra Modi ji, we have vowed to live up to their expectations. Indian Railways run more than 12000 passenger carrying trains and more than more than 7000 freight trains every day. What are required are not a few changes here and there but holistic planning and comprehensive measures that shall enable the Indian Railways to match the best in the world. We have to work in this direction on a day to day basis.

I am happy to share with you that many of the budget announcements are in various stages of implementation and remaining will have to be taken up within a month. Implementation of the budget announcements is strictly monitored. The performance of the Railways on almost all the parameters has been steadily improving as you can gauge from the improvements in efficiency parameters in the last 4 months. Indian Railways is making efforts to evolve new methods of resource mobilization. Recently during the talks of Hon’ble Prime Minister with Japan and China we have identified some mutual areas of cooperation with these two countries.

One of the major initiatives of our government is to permit foreign direct investment (FDI) in our railway sector to bring much needed investment in the railway infrastructure especially the big ticket projects like High speed rail corridor among others. Permitting FDI will facilitate foreign investors to compete for such mega projects, either on their own or by joining hands with domestic investors. This in no way leads to privatization of existing Indian Railways Network or its core activities.  At the cost of repetition, it is made clear that the existing Indian Railways Network, its operations and its core activities will remain with the Indian Railways only and not open for privatization. This will also not affect the strategic role played by Railways in the national interest as well as its social obligations in any way.

In order to provide more hassle-free services to railway users, Indian Railways have launched new IT initiatives/applications developed by CRIS. It also meets Hon’ble Prime Minister’s dream project of Digital India.  Next Generation e-ticketing (NGeT),   Freight E-Demand system,  Freight E-Diversion system, Go India Smart card,  Train Enquiry Mobile App are few of the initiatives taken up by Indian Railways  in the past 4 months.

We have taken a number of initiatives in the field of catering which is one of the major areas of complaints by the passengers. We have so far imposed exemplary penalties on 12 contractors for their lapses in providing quality food. We have strengthened our catering complaint no. 1800-111- 321. We have introduced on pilot basis precooked foods and e catering systems. We are planning a third party audit of the catering services so as to ensure improvement. I am sure all my railwaymen will bring in a remarkable change in the Q & Q of the food we serve for our customers.

My dear friends we must realize that it is not just private sector which treats customer as king but Indian Railways must resolve today that we are no less to private sector in keeping the customers’ interest first. In the fast transforming world of web based communication through social media, Railways has ensured its presence on social media platforms by launching You tube, Facebook and Twitter. This would help us to  directly connect with the public.

On October 2nd, Indian Railways launched the biggest ever cleanliness campaign all over the country in line with the Union government’s Swachh Bharat campaign. The entire railway family rose to the occasion and performed ShramDan for ensuring cleanliness. Cleanliness should become part of our ethos and values and should be a continuous feature of our functioning.  The railway staff and the railway users together can make a big difference in the field of cleanliness and can change the face of the nation. We have allocated 40 per cent more budget for cleanliness this and if need be we would also increase it. We would also set up one dedicated dept for House Keeping with the presence from the level of stations to Board so that this business is taken seriously and those manning the dept become accountable.”

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