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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
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September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
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NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
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September 3, 2026
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GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
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The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
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September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
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Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.

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Big Boost to the Railway Sector: CCEA approves construction of additional Railway lines

February 18, 2016

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Press Information Bureau

Government of India

Cabinet Committee on Economic Affairs (CCEA)

17-February-2016 14:55 IST

The Cabinet Committee of Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved construction of six Railway Lines and a Railway bridge to cater to both increased passenger and freight needs in various areas of the country. The proposals will cost over ₹ 10,700 crore and most part of the expenditure will be met through extra budgetary resources (Institutional Financing). Details of the six approved projects are as follows:

1)   Doubling of Hubli-Chickajur railway line

Doubling of 190 km long Hubli-Chickajur broad gauge single railway line has been approved. The total estimated expenditure will be ₹ 1294.13 crore. The project is likely to be completed in 4¼ years during 13th Plan period and will cover the areas of Chitradurga, Davangere, Haveri and Dharwad.

Entire route from Pune-Miraj-Hubli-Bengalore has been identified for doubling which will not only improve smooth flow of traffic but also boost overall development of the region.

This stretch is part of an important rail link of passenger trains between Mumbai and Bangalore and goods trains to the ports at Mangalore.  On this route, doubling between Bangalore-Tumkur and Arsikere-Chickajur have already been completed.  On balance portion, doubling work between Hubli-Londa part of Hubli-Londa-Vasco-da-Gama, is also in progress.

2)   Construction of Wardha (Sewagram) – Ballarshah 3rd railway line

Construction of Wardha (Sewagram) – Ballarshah 3rd railway line of 132 km will be taken up at an estimated completion cost of ₹ 1443.32 crore.  The project is likely to be completed in five years during 13th Plan period and will be located in Wardha and Chandrapur districts.

The line capacity utilization of the section is saturated and running of additional Mail/Express and Goods traffic over the section cause detention to the trains.  Wardha (Sewagram) – Ballarshah section is very important from goods originating point of view of Nagpur Division where many collieries and many sidings are proposed on the section. 

3)   Doubling of Ramna-Singrauli railway line

Doubling of 160 km long Ramna – Singarauli railway line has been approved at a cost ₹ 2675.64 crore and is likely to be completed by 2019-20.   The project will cover the districts of Garhwa in Jharkhand, Singrauli in Madhya Pradesh and Sonbhadra in Uttar Pradesh.

The Ramna-Singrauli section falls in Dhanbad Division of East Central Railway.  At present traffic utilization of the section is 105%, resulting in detention of trains and loss of revenue.  In order to attain the desired fluidity and increase in the sectional capacity, doubling of this single line section is very essential from operational point of view.  The project will serve the freight and passenger traffic needs in the jurisdiction of Northern Coal Fields and series of power plants and associated small scale industries in and around Anpara and Shaktinagar, namely Anpara Super Thermal Power Plant, Rihand Super Thermal Power Plant, Renusagar Hydro Power Plant,Singrauli Super Thermal Power Plant, Vidhyachal Super Thermal Power Plant.

4)   Construction of 3rd railway line between Anuppur-Katni

Construction of 165 km long 3rd railway line between Anuppur-Katni in Madhya Pradesh has also been apporved at a cost of ₹ 1595.76 crore. The project is likely to be completed in 5 ¼ years spanning over 12th and 13th plan period.

The project would cover the districts of Anuppur, Shahdol, Umaria and Katni districts of Madhya Pradesh.

There has been tremendous surge in coal and one mining which has been geared up in the recent past and ambitious plans for an enormous leap forward in the ensuing years to tap these resources lying hitherto untapped.  As a result of the rapid industrialization, number of industrial townships have also grown up along the project line.  These developments have resulted in large demand for additional coaching services on the section.  With this anticipated increase of freight traffic, the capacity utilization will reach upto 175%.  Apart from this substantial additional coal traffic from IB valley, Korba area, East Corridor and Gevra Road – Pendra Road Project would be channelized through this route to the respective destinations. In order to meet the growth in the freight and passenger traffic, tripling of 3rd line between Anuppur-Katni is essential.

5)   Doubling of Katni-Singrauli railway line

Construction of doubling of 261 km long Katni – Singarauli railway at a cost of ₹ 2084.90 crore has been approved. The project will be completed in 5 ¼ years.  The project would cover the districts of Katni, Shahdol, Sidhi and Singrauli in Madhya Pradesh.

Katni-Singrauli is a critical and busy section carrying coal from Northern Coal Fields towards Western and Northern thermal power plants.  This section intersects Allahabad-Mumbai route at Katni.  Provision of doubling between Katni-Singrauli section would provide the necessary line capacity for introduction of additional mail/express and passenger trains to serve the people of the area and transportation of coal from collieries.  This will also boost overall development of the region.

6)   Construction of additional Bridge and doubling project of Rampur Dumra-Tal-Rajendrapul

Construction of additional Bridge and doubling project of Rampur Dumra-Tal-Rajendrapul sector in Bihar at a cost of ₹ 1700.24 crore has also got CCEA’s approval today.

The project is likely to be completed by 2019-20.  The project is located in Begusarai and Patna districts of Bihar.

The existing rail-cum-road bridge at Hathidah has single line track and doubling is not possible.  Present traffic utilization of the section is 123.5%.  At present this is the only railway bridge connecting both North and South Bihar.  Existing single line has resulted in heavy detention of goods and passenger traffic.

In order to streamline the operation of traffic in this single line section, it is very essential that one additional bridge and doubling of this section is undertaken.  By providing this facility, there will be ample fluidity in maintaining train operations as well as introduction of more passenger/goods trains in the section and it will augment line capacity too.  This will also facilitate in minimizing the running time of trains between Kiul-Barauni and Mokama-Barauni section and will ease out the existing operational constraints in this section.

***

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