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    Experts Call for Intelligence-Led Action to Break Cross-Border Illicit Trade Networks at ASIA Security Conference 2026
    How NRIs Can Structure Bank Accounts in India When They Have Both Indian and Overseas Financial Commitments
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August 25, 2026
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Intelligence-led enforcement against illicit trade requires coordinated data-sharing, risk profiling, digital accountability and disruption of organised supply networks.
Cross-border illicit trade enforcement should move beyond isolated seizures to intelligence-led disruption of organised criminal networks. Risk-based profiling, predictive analytics, container scanning and shipment-data analysis should support targeted action against misdeclaration, port-hopping, concealment and digital distribution. Right holders should share specific intelligence with customs targeting mechanisms, and goods entering Domestic Tariff Areas from warehousing and special economic zones require enhanced examination. Digital enforcement should trace suppliers, financial flows, data trails and small-parcel movements, supported by coordinated feedback between online marketplaces, police and customs.
August 25, 2026
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NRI banking account segregation aligns overseas earnings, domestic income, foreign-currency savings, remittances, and borrowing with cross-border commitments.
NRI banking arrangements require segregation of overseas earnings, India-sourced income, savings, remittances and expenditure after residential status changes. An NRE account holds overseas income remitted to India, with interest exempt from income tax in India. An NRO account is intended for Indian income, including rent, dividends and pension, while FCNR deposits retain funds in a chosen foreign currency. A structured arrangement can align these accounts with domestic obligations, overseas spending, remittances, investments and compliant digital banking access.
August 25, 2026
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Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
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Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.
August 25, 2026
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Industrial power tariff revision applies only within the shared distribution area, while steel producers seek rollback and fuel supply support.
Industrial electricity tariff revision is proposed from 1 September for 33 KV and 11 KV consumers within the Damodar Valley Corporation command area. The increase is confined to the shared distribution-licence area, while a separate and higher tariff structure applies outside it. Steel and sponge-iron industry associations oppose the revision on the basis that it will raise energy costs and affect investment conditions. They seek withdrawal of the increase and request continuing supplies of high-grade coal and iron ore for sponge-iron production.
August 25, 2026
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Institutional capital facilitation prioritises repatriation, market access, regulatory predictability, and cross-border partnerships supporting technology-led long-term investment.
India-Japan investment engagement focuses on increasing long-term Japanese institutional capital flows through an enabling business environment, intellectual property protection, policy reforms and integration with global value chains. Facilitation measures include simpler profit repatriation processes, improved access to Indian capital markets, greater regulatory predictability and a seamless cross-border investment environment. GIFT City is explored as a gateway for international capital and Japan-India investment flows.
August 25, 2026
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Strategic investment partnership prioritises semiconductor manufacturing, resilient supply chains and advanced industrial collaboration between Indian and Japanese businesses.
India-Japan economic cooperation is directed toward deeper trade, investment, technology and business-to-business linkages, including economic security, supply-chain resilience, clean energy and innovation. Collaboration is focused on capital goods, machinery, automotive and advanced manufacturing, with stronger connections between Japanese enterprises and India's Tier-II and Tier-III suppliers, including Micro, Small and Medium Enterprises. Semiconductor manufacturing is identified as a significant investment area. The India-Japan Special Strategic and Global Partnership supports expanded engagement with manufacturing ecosystems, global value chains and resilient supply chains.
August 25, 2026
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Bilateral trade and investment cooperation advances through customs alignment, digital payment integration, market access discussions and investment treaty completion.
India-Cambodia trade and investment cooperation addressed trade diversification, market access, customs alignment, digital payments and investment facilitation. Discussions covered traditional medicine, e-governance, recognition of the Indian pharmacopeia, trade statistics, agricultural cooperation, banking and insurance. The parties agreed on an MoU on Customs Cooperation to promote uniform customs procedures and considered early completion and signature of the Bilateral Investment Treaty. UPI-KHQR payment integration, investment promotion, priority-sector cooperation and a private-sector feedback mechanism were also discussed.
August 25, 2026
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Voluntary pharmaceutical export compliance framework promotes legitimate trade while safeguarding controlled substances through information sharing and coordinated capacity building.
The Memorandum of Understanding creates a cooperative framework for legitimate pharmaceutical exports and safeguards against diversion of narcotic drugs, psychotropic substances and controlled precursors. A voluntary, non-binding code of conduct will recommend industry practices without imposing obligations beyond applicable law. Cooperation includes identifying export bottlenecks, streamlining procedures for compliant exporters, capacity-building programmes, lawful and confidential information sharing, and nomination of company contact persons to coordinate voluntary compliance measures.
August 25, 2026
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USD-INR forex swap facility accelerates foreign-currency mobilisation through non-resident deposits and institutional borrowing, strengthening India's external buffers.
USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.
August 25, 2026
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Foreign-exchange intervention moderated rupee depreciation as crude prices, importer dollar demand and geopolitical uncertainty sustained currency-market pressure.
Foreign-exchange conditions reflected a marginal weakening of the rupee against the US dollar, influenced by elevated crude-oil prices, importer demand for dollars, weaker Asian equities and geopolitical uncertainty. The currency remained within a narrow trading band, with RBI dollar sales described as moderating sharper depreciation. The RBI's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised substantial foreign-exchange inflows, indicating support from non-resident Indian participants.
August 24, 2026
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Prior government sanction for public servants is contested as essential before money-laundering proceedings may validly proceed for official-duty acts.
Prior prosecution sanction is asserted to be a jurisdictional precondition for money-laundering proceedings against a public servant for acts connected with official duty. A former police officer challenges cognizance and process for want of sanction under the criminal procedure framework and the Maharashtra Police Act, relying on sanctions subsequently granted for co-accused public servants. The allegations concern collection of funds through the officer and their alleged laundering through an educational trust.
August 24, 2026
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Rupee exchange-rate movement gained marginal support from foreign equity inflows despite crude oil, importer demand and geopolitical pressures.
Rupee exchange-rate movement against the US dollar reflected a marginal appreciation, supported by foreign fund inflows into domestic equities. Trading remained within a narrow range amid pressures from higher crude oil prices, continuing importer demand, and geopolitical concerns. Market conditions also included a stronger dollar index, lower Brent crude futures, domestic equity declines, and net foreign institutional investment. Elevated oil prices and geopolitical uncertainty indicated a slight negative bias, while possible US dollar weakness could support the rupee.
August 24, 2026
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Retaliatory trade measures may target electricity, critical minerals and integrated automotive supply chains amid escalating cross-border tariff disputes.
Canada-United States trade relations involve escalating tariffs and contemplated reciprocal restrictions affecting goods, automotive production, electricity exports and critical-mineral supplies. Potential Canadian countermeasures include limiting or increasing the price of Ontario electricity exports and restricting supplies of critical minerals, with oil and potash also identified as possible leverage. The automotive sector faces particular exposure because Ontario production and supply chains are integrated with United States manufacturing. Negotiations also raised concern over limits on Canada's ability to conclude trade agreements with other countries without United States approval.
August 24, 2026
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Mandatory biometric updates for students support continued Aadhaar authentication and access to education, scholarship and benefit-related services.
Mandatory Biometric Update camps have been launched in schools across Tamulpur district, Assam, for eligible students aged 5 to 17 years to update Aadhaar biometrics. Aadhaar biometrics require updating on attaining five years of age and again on attaining fifteen years. Timely updating supports continued Aadhaar authentication and helps avoid difficulties in accessing services where authentication is applicable, including school admissions, entrance-examination registration, scholarships and Direct Benefit Transfer schemes.
August 24, 2026
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Electricity tariff affordability requires immediate review, withdrawal of higher consumer charges, and relief measures for economically weaker households.
Electricity tariff increase in Jammu and Kashmir has been opposed as imposing an unjustified and unaffordable financial burden on domestic consumers amid rising household costs. Immediate review and withdrawal of the increase are sought, together with measures to reduce electricity costs for domestic consumers, particularly economically weaker sections, and ensure affordable, reliable power supply.
August 24, 2026
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Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
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Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
Food safety enforcement measures resulted in suspension of food licences or registrations where establishments failed hygiene, food handling, storage, refrigeration, sanitation and licensing requirements. Deficiencies included unsafe temperature control, unclean refrigeration equipment, improper food storage and thawing, inadequate sanitisation, deteriorated or expired materials, deficient oil-quality checks, artificial colouring, pest infestation, cross-contamination risks and inadequate drainage. One outlet was also found to be operating under the name of an establishment without a valid food licence, resulting in suspension of its registration certificate.
August 24, 2026
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Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.

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Nandan Nilekani Submits TAGUP Report to the Finance Minister

February 6, 2011

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 Shri Nandan Nilekani, Chairman, UIDAI and Technology Advisory Group for Unique Projects (TAGUP) handed over the TAGUP Report to the Union Finance Minister, Shri Pranab Mukherjee, here today.  Speaking on the occasion, Shri Mukherjee said that this report has been submitted at a right time and would help in various IT projects like Tax Information Network (TIN), New Pension Scheme (NPS), National Treasury Management Agency (NTMA), Expenditure Information Network (EIN), Goods and Service Tax (GST). He said that an effective tax administration and financial governance system calls for creation of IT projects which are reliable, secure and efficient.  Shri Mukherjee said that this report  is a result of a good teamwork.   

Finance Minister Shri Mukherjee had earlier announced in his Budget Speech 2010 to set-up a Technology Advisory Group for Unique Projects (TAGUP) under the Chairmanship of Shri Nandan Nilekani.  Pursuant to this, Ministry of Finance, Department of Economic Affairs had constituted the Technical Advisory Group for Unique Projects (TAGUP). The Members of the Group were- 

1.      Shri Nandan Nilekani, Chairperson

2.      Shri C.B. Bhave, Chairman SEBI

3.      Shri R. Chandrasekhar, Secretary, Department of IT

4.      Shri Dhirendra Swarup, Former Chairman PFRDA

5.      Shri S.S. Khan, Former Member, CBDT

6.      Shri P.R.V Ramanan, Former Member, CBEC

7.      Dr. Nachiket Mor, President, ICICI Foundation for Inclusive Growth 

TAGUP was requested to address and make recommendations on the following issues‑ 

  1.         i.            Human resource including modification in government rules, procedures etc;
  2.       ii.            Appropriate placement of tasks and allocation of responsibilities within Government;
  3.     iii.            Contracting, commercial terms and charges including procedures etc for competitive bidding, pricing models and suggestions on user charges;
  4.     iv.            Road map from start up to going concern for each of these projects, which would also focus on legal/regulatory change, if any;
  5.       v.            Technology architecture and ways for co-ordination between Centre, States and Local Governments;
  6.     vi.            Possibility of introducing Open Protocols and utilization of open source components of other e-government projects;
  7.   vii.            Security challenges of malicious attacks on the system;
  8. Accountability and self corrective mechanisms; and
  9.     ix.            Protection of individual's right to privacy with focus on safeguards in the IT systems to protect legal and constitutional rights etc. 

            The Group which handed over the TAGUP Report to the Finance Minister, here  today has made the following key recommendations in their Report: 

  1. The Group recommends that for complex IT intensive projects (especially for those referred to in the Terms of Reference and generally to IT mission critical projects in Government)National Information Utilities (NIUs) working in the spirit of partnership with Government be put in place to handle all aspects of IT systems. 
  1. While strategic control is retained by Government at all times, NIUs should be set-up as private companies with a public purpose.  They should be financially independent and empowered to take quick and efficient business decisions pertaining to attracting and retaining talent, procurement, rapid response to business exigencies, and adopting new technologies, among other things. 
  1. Human resource Challenges: Strong support from the top leadership within Government, dedicated team at the level of project implementation, and ownership and commitment at various operational levels are necessary concomitants of success of any project.  The Group recommends that every project should have a dedicated Mission Leader within the Government with a Mission Execution Team.  The Mission Execution Team should be manned by personnel, who possess a diverse set of skills including intimate familiarity with the Government processes, specialization in verticals such as technology, outreach, law, as well as the ability to manage a large decentralized organization, among others.  The Group also recommends certain monetary and non-monetary incentives for the Team. 
  1. Multiple Levels of Government:  Many of these projects span the Central, State and Local Governments.  A critical aspect of the success of such multiple-level IT projects is that the solution must be incentive compatible across stakeholders.  Common functions should be included in a single application platform shared by all stakeholders.  Such a single application platform, while respecting the constitutional autonomy of all Governments involved, may be deployed in a decentralized environment, but its development must necessarily be centralized. 
  1. The Group has also made recommendations in the areas of contracting, incubation, solution architecture, openness, transparency, and protection of the individual in case of large, complex IT intensive projects.
  2. The Report addresses the challenges faced by large complex IT projects in Government, and then applies this framework to the evaluation of the five projects (GST, TIN, EIN, NTMA and NPS) at hand.
  3. The Group also noted that the Empowered Group on IT infrastructure for GST in its IT Strategy for GST has recommended the setting-up a Goods and Services Tax Networkwhich has the characteristics of an NIU as per this Report. 
  1. Specific recommendations relating to the five projects of the Ministry of Finance have been given in the Report. 

            The Report can be accessed on the Ministry of Finance website: http://finmin.nic.in/

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