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    SBI eyes USD 10 bln from NRIs, foreign investors ahead of RBI swap window closure
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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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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.
August 24, 2026
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Sugar supply management measures target speculative stockpiling through imports, stockholding limits and earlier crushing to moderate prices.
Sugar supply is characterised as adequate, and higher prices are attributed principally to speculative buying and advance stockpiling, alongside lower output, seasonal demand and global price pressures rather than an actual shortage. Duty-free raw sugar imports and stockholding limits are intended to augment availability, curb speculative accumulation and stabilise market sentiment. Imports, existing stocks, special crushing and an earlier crushing season are expected to moderate prices and improve festive-period supply. Ethanol diversion is not identified as a cause of the price movement.
August 24, 2026
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Wheat export policy shifts to free trade, lifting restrictions on wheat flour, maida, semolina and wholemeal atta exports.
Wheat export policy has been revised from prohibited to free with immediate effect, lifting the export ban on wheat and related wheat products. The liberalised export treatment extends to wheat flour, maida, semolina and wholemeal atta. The restriction had been imposed to address rising domestic prices, and its removal is expected to improve international wheat availability.
August 24, 2026
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Bogus input tax credit fraud investigation examines fabricated invoices, circular transactions, layered funds and alleged proceeds of crime.
Investigation into alleged bogus input tax credit fraud involved searches under the anti-money-laundering framework. The alleged scheme involved fabricated invoices and e-way bills without actual movement of goods, circular transactions, layered funds, cash withdrawals and bogus or non-existent entities. GST authorities identified fraudulent availment of input tax credit causing wrongful loss to the government exchequer. The investigation focused on tracing alleged proceeds of crime, identifying beneficiaries, and securing documentary and digital evidence.

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Birds eye view - What Budget says

February 29, 2016

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  • 19,610 cr of net revenue gain from direct & indirect taxes
  • High-level Committee Chaired To Allay Fears Of Retro Tax
  • Corp tax to be cut to 29% from FY18 for cos with turnover less than ₹ 5 cr
  • Creating 11 new benches of Indirect Tax tribunal
  • Propose to rationalise norms for tax deducted at source
  • Dividend Tax rate of 10% for individuals/HUF if dividend in excess of 10 lk/annum
  • Propose to abolish 14 different cesses levied by ministers
  • Skill development reforms to boost MII
  • To lower penalty to 50% of tax in case of under-reporting of income
  • Propose 1-time Scheme w.r.t Dispute Resolution Provided Case Withdrawn
  • STT increase in options
  • New cos will not be allowed to seek any exemption
  • LTCG period for unlisted companies reduced to 2 years
  • New mfg cos after March 1, 2016 to be taxed at 25% plus cess+surcharge
  • Accelerated depreciation limited for R&D to 150% from FY18
  • Accelerated depreciation limited to 40% from FY18
  • Number of measures will be undertaken to deepen corporate bond market
  • Raise personal I-T house rent exemption to 60,000 from 24,000/yr
  • To enable non institutional investors to invest in ARCs
  • Turnover limit of 2 cr for SMEs
  • Department of Disinvestment to be renamed as Department of Investment and Public Asset Management
  • Govt stands firmly behind public sector banks
  • Will undertake massive nationwide of ATMs in the next 3 years
  • To propose introduction of DBT in fertilizer on pilot basis
  • Total resources allocated to states 99681 cr more than 2015-16 RE
  • To do away with plan & non-plan classification from FY18
  • 2.5% revenue deficit target for FY16 vs budgeted est of 2.8%
  • Committee To Review FRBM
  • Non-plan classification from FY18
  • Non-plan expenditure at ₹ 14.28 lk cr
  • 15.3% increase in plan expenditure to to ₹ 5.5 lk crore
  • FY17 fiscal deficit target at 3.5%
  • To adhere to fiscal deficit target
  • Aadhaar bill to be introduced in current session of parliament
  • Govt has option to reduce stake in IDBI below 50%
  • Amend SEBI act to increase benches in SAT
  • 25,000 cr for bank recap
  • Comprehensive framework to deal with CIS schemes
  • 100% FDI through FIPB route in marketing of food products marketing will be allowed
  • To announce 3 initiatives in reinvigorate pvt sector
  • SEBI to bring new derivative pdts for commodity markets
  • Tax of 10% in the hands of dividend recipients above 10 lk
  • Propose New Dispute Resolution Scheme
  • Offering limited period compliance window for undisclosed income
  • Voluntary disclosure of income for blackmoney
  • To raise excise duty on most tobacco products by 10-15%
  • Clean energy cess for coal ₹ 400/ tonne
  • To levy 1% infra cess on small gasoline cars
  • Increase limit for rent paid
  • Deduction amount under 80GG increased from 24,000 pa to 60,000 pa
  • Deduction to rent payers under 80 GG increased from ₹ 24k cr to 60k cr
  • Benefits of research will be 150% by 1st April 2017 and 100% by 1st April 2020
  • Lower corporate tax rates from co with Rev under ₹ 5cr to 29% + surcharge + cess
  • First home buyers an additional deduction of interest of 50,000 provided value of house does not exceed ₹ 50 lakh
  • Tax exempt 40% of withdrawal from NPS at retirement
  • Propose 100% deduction to undertakings for construction of affordable housing
  • DDT exempted from REITs
  • Propose to make some changes in customs, excise duty rates
  • Propose to implement GAAR from April 1, 2017
  • Propose complete passthrough of IT to trusts of ARCs
  • Govt to open up the road transport sector in the passenger segment
  • Abolition of permit raj to be our medium term goal
  • Approve 10K Km of National Highways in FY17
  • RBI act to be amended to provide framework for monetary policy code
  • Bankruptcy code to be introduced in parliament in FY17
  • Total investment in road sector at 97000 cr in FY17
  • Encourage CPSEs to divest non-core assets like land etc
  • Propose further FDI reforms for stock exchanges, ins, pension
  • Duty drawback schemes to be widened
  • Propose 31,300 cr of infra bonds to be issued by various agencies
  • To issue guidelines for renegotiation of PPP contracts
  • To introduce public utility resolution bill
  • Calibrated market prices for gas based on landed price of alt fuels
  • Propose to develop 10 of 25 non-functional airstrips
  • To incentivise gas production from deep sea & ultra deep waters
  • To partner state govts to rejuvenate regional airports
  • To amend motor vehicle act to open up road passenger sector
  • Necessary amendments to open up road transport for passenger seg
  • Allocate 55,000 cr for roads highways; excl 15,000 cr nhai bonds
  • Need to derive greater benefit from demographic advantage
  • Launching 2 schemes to promote digital literacy
  • To pay 8.33% for new employees towards EPFO contribution for 3 years
  • 75 lk households have voluntarily given up cooking gas subsidy
  • 3000 Stores For Generic Drugs Will Be Opened In FY17
  • Stand up india scheme allocated ₹ 500 cr for SC, ST and women entrepreneurs
  • To set up high education financing agency with 1,000 cr capital
  • Additional 30,000 cr coverage to be provided for senior citizens above 60 years
  • Propose to exempt parts of dialysis equipment from basic customs duty
  • Propose to launch new health care scheme with 1 lk as cover per family
  • Need to adopt prudent fiscal strategy
  • Must rely on domestic demand since foreign mkts are weak
  • Allocate ₹ 2,000 cr for initial cost of LPG connection to women members
  • Mission to provide LPG gas connection to women household members
  • Embark on a mission to give LPG connection to women in poor households
  • Looking at reforming dispute redressal mechanism in PPP projects
  • Propose 87,765cr for rural dvpt in FY17
  • 28.5 lk hectares to be brought under PM's Krishi Sinchai Yojana
  • 89 irrigation projects will be fast tracked
  • 368 cr provided for National soil health and fertility program
  • Allocate 9,000cr towards Swachh Bharat Mission
  • Govt committed to achieve 100% village electrification by May 1, 2018
  • Krishi Vikas Yojana will bring 5lk acres under organic farming
  • 12 states have already amended their APMC acts
  • 38,500 Cr allocation to MNREGA
  • Urgent need to focus on areas rural distress
  • Propose ₹ 2.87 lakh cr as grants to rural local bodies in FY17
  • Rs.2.87 lac cr to be given as grants to aid gram panchayats
  • Propose ₹ 5,500 cr for crop insurance scheme for FY17
  • 4 new schemes to enhance dairy farming in India at ₹ 850 cr
  • To implement online procurement system under Food Corp of India
  • Target of Agri credit at all-time high of ₹ 9 lakh cr
  • Rs.15,000 cr to be allocated for interest subvention for agri loans
  • Sadak Yojana allocation at ₹ 19,000 Cr for FY17
  • Unified agri market scheme to enhance farmer access to markets
  • To set up e-platform to enhance farmer access to markets
  • Propose to spend ₹ 86,500 Cr on irrigation projs in 5 years
  • Allocation for AIBP at ₹ 17,000 Cr for FY17
  • Create new infra for irrigation, value addition to farm-mkt connectivity
  • Have to give farmers income security, aim to double farmer income
  • Allocation to farming sector at ₹ 35,984 Cr
  • Proposed to double farmers' income in 5 years
  • Propose to tax reforms to reduce compliance burden
  • Budget focus on infra & enhancing quality of life
  • To enact law to give statutory backing to Aadhaar
  • Focus on social sector especially health care, education & skill dvpt
  • Will pursue implementation of GST, reform measures pending before parliament
  • Budget focus on tax reforms to reduce burden of compliance
  • Budget to focus on rural employment & infrastructure
  • Focus to pass GST, bankruptcy code
  • Will Give Statuatory Backing To Aadhar Platform
  • Priority To Provide Addl Resource To Vulnerable Sections In Rural Areas
  • Will Focus On Areas Of Utmost Importance To Govt
  • Will focus on areas of utmost importance to govt
  • To Make Provision For Bank Recap, Farm & Social Sector In FY17
  • New Initiative To Support BPL Families With Cooking Gas Subsidy
  • Additional burden on account of 7thpay comm & OROP
  • Increase plan expenditure for FY16

 

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