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    CCI approves acquisition of Onesto Labs Private Limited by L’Oréal India Private Limited
    Central govt employees to get salary in advance on Sep 25 in view of 3-day bank strike
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    Banks to remain open on Sunday, 27th September, for convenience of customers
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    Banks to remain open on Sunday for customers' convenience in view of proposed strike
    S&P, Fitch raise FY'27 India GDP growth projections; see 25 bps RBI rate hike on inflation fears
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    Hughes Precision Raises ₹250+ Crore to Accelerate Ammunition Manufacturing Expansion
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September 24, 2026
Show AI Summary
Full ownership acquisition in beauty and personal care receives competition approval for skin care and hair care operations.
Competition approval covers L'Ore al India Private Limited's acquisition of the entire shareholding in Onesto Labs Private Limited. The proposed combination concerns India's beauty and personal care sector and places the Target under the Acquirer's full ownership. Both entities operate in beauty and personal care products, including skin care and hair care.
September 23, 2026
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Advance disbursement of central government pay addresses anticipated banking disruption, with subsequent adjustment against the following month's entitlements.
Advance disbursement of September 2026 salary, wages and pensions is authorised on 25 September for central government employees, industrial employees and pensioners because of the proposed bank strike. Payments constitute advance payments and must be adjusted after full monthly entitlements are determined, with any adjustment made from October salary or wages. End-of-month banking transactions should, where feasible, be processed in advance.
September 23, 2026
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Commercial vehicle after-sales support expands authorised repairs, genuine spares, roadside assistance, and uptime for remote high-altitude fleet operations.
Commercial vehicle after-sales support is expanded through a BharatBenz 3S facility operated by PPS Trucking for remote high-altitude fleet operations. The facility provides sales, authorised service, genuine spare parts, diagnostic systems, repair tools and round-the-clock roadside assistance. Trained technicians, service bays and regional spare-parts inventory are intended to reduce repair turnaround times and vehicle downtime. The support network serves commercial vehicles engaged in stone-crushing, road construction, communication-infrastructure transport and other heavy-duty operations in difficult terrain.
September 23, 2026
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Redeem-code eligibility limits govern BGMI's final Golden Miramar Pan reward drop through the official redemption portal.
BGMI's final redeem-code series offers limited-time Golden Miramar - Pan rewards through general redeem codes valid only until September 25 on the official redemption website. Redemption requires a Character ID, valid code, Captcha verification, and submission through the redeem centre. Each code is limited to 10 users on a first-come, first-served basis; users may redeem one code daily, and each code is usable once per account. Guest accounts are excluded, and in-game mail rewards must be claimed within 30 days.
September 23, 2026
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Aadhaar-based biometric attendance requires employee registration, integrates leave records, and triggers automated pay deductions for unauthorised absences.
Aadhaar Enabled Biometric Attendance System (AEBAS) is mandatory for regular and temporary government employees and integrates attendance and leave data with PRANALI. Monthly reports are verified to identify authorised leave and net absence. Remaining unauthorised absence may result in digitally issued extraordinary-leave or leave-without-pay orders, personnel-record updates, and automated salary deductions. Temporary employees' failure to record attendance is treated as leave without pay.
September 23, 2026
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Initial public offering by Swastika Infra combines a fresh issue and offer for sale, subject to approvals.
Swastika Infra Limited proposes an initial public offering comprising a fresh issue of equity shares and an offer for sale, with proposed listings on BSE Limited and National Stock Exchange of India Limited. The allocation framework covers qualified institutional buyers, anchor investors, non-institutional investors and retail individual investors. Net fresh-issue proceeds are intended for incremental working-capital requirements and general corporate purposes. Completion remains subject to statutory and regulatory requirements, approvals, market conditions and other considerations.
September 23, 2026
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Monetary policy tightening may follow resilient growth as inflation, conflict risks, and weather pressures reshape economic projections.
FY27 GDP growth projections were raised to a range of 6.9%-7.1% on stronger June-quarter activity, resilient demand, investment, consumption, exports, capital inflows and limited supply disruptions. Growth may moderate as energy costs reduce purchasing power, activity slows and weather risks persist. Policy-rate tightening is projected as an inflation response, with forecasts of a 25-basis-point increase and temporary rate rises to offset price pressures.
September 23, 2026
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Fisheries subsidy disciplines require transparent reporting, domestic monitoring, and coordinated implementation to address harmful subsidies and IUU fishing.
Fisheries subsidy disciplines target support linked to illegal, unreported and unregulated fishing, fishing of overfished stocks subject to rebuilding conditions, and fishing on the unregulated high seas. Members accepting the Agreement must implement and administer these disciplines and comply with notification and transparency obligations. Effective implementation depends on reliable fisheries data, monitoring and reporting systems, vessel registration, inter-agency coordination and technical capacity.
September 23, 2026
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Essential banking service continuity requires Sunday operations by public sector and regional rural banks during the proposed strike.
Public Sector Banks and Regional Rural Banks will function normally on Sunday, 27 September 2026, to prevent an extended interruption to public banking needs during the proposed nationwide strike. Reserve Bank approval covers full operation of branches, offices, ATM-link branches and Currency Chests, alongside measures intended to maintain uninterrupted essential banking services.
September 23, 2026
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Money laundering allegations in public recruitment describe CSR-linked payments, examination manipulation, and candidate payments treated as proceeds of crime.
Money-laundering allegations concerning state public-service examinations identify two alleged streams of proceeds of crime: corporate social responsibility funding allegedly routed to an institution controlled by the former commission chairman in return for favouring selected candidates, and money allegedly collected from candidates and families for advance access to examination papers and secured selection. The alleged CSR payment was projected as legitimate institutional funding, while candidate-related collections were allegedly possessed, used, transferred, or projected as legitimate transactions.
September 23, 2026
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Banking service continuity measures require public sector and regional rural banks to operate on Sunday during the proposed strike.
Banking-service contingency arrangements require Public Sector Banks and Regional Rural Banks to operate normally on Sunday, 27 September 2026, ahead of a proposed three-day bank strike. Reserve Bank approval permits bank branches, offices, ATM-linked branches and currency chests to remain fully operational. Customers are advised to use mobile banking, ATMs, internet banking, BC Points and UPI if the strike occurs, and to complete essential transactions in advance.
September 23, 2026
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Inflation-driven monetary tightening may accompany strong growth as demand, price increases and adverse supply conditions shape rate expectations.
Inflationary pressures, robust demand, price rises and adverse supply developments are expected to lead to policy-rate tightening by RBI. Fitch anticipates a 25-basis-point rate rise in October, further tightening in early 2027, followed by easing in 2028. Growth projections were upgraded following stronger-than-expected June-quarter activity, but activity is expected to moderate as the effects of GST rationalisation and income-tax cuts recede, manufacturing and services slow, and below-normal monsoon conditions affect activity.
September 23, 2026
Show AI Summary
GDP growth forecast rises as domestic demand, investment, and public capital spending sustain economic resilience amid external risks.
India's GDP growth forecast for the current fiscal year is raised to 7 per cent, supported by investment demand, resilient consumption, manufacturing and services activity, lower-than-expected supply disruptions, and sustained capital inflows. Domestic demand, infrastructure expenditure, regulatory reforms, and improving private investment are expected to support growth. Inflation is projected to remain within the central bank's target range, subject to risks from geopolitical uncertainty, commodity prices, and weather-related disruption. Fiscal management is supported by public capital expenditure and robust direct-tax revenue.
September 23, 2026
Show AI Summary
Primary and secondary investment funds ammunition manufacturing expansion, increasing small-caliber capacity and establishing medium-caliber production.
Hughes Precision Manufacturing Pvt. Ltd. completed a Rs. 250+ crore investment round through primary and secondary investments. The capital will expand small-caliber ammunition capacity from approximately 80 million to 220 million rounds and establish a dedicated medium-caliber ammunition manufacturing facility. The expansion broadens its product portfolio and is supported by an order book exceeding Rs. 1,000 crore, including domestic defence and export orders scheduled for execution over approximately two years.
September 23, 2026
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GDP growth outlook signals resilient expansion, but inflation, weaker rural demand, and supply pressures may prompt monetary tightening.
India's FY 2026-27 GDP growth forecast is raised to 6.9 per cent from 6.4 per cent, reflecting strong June-quarter growth and economic resilience. Economic momentum is projected to moderate as slower manufacturing and services expansion, below-normal monsoon rains, and rising inflation constrain demand. Strong demand, price increases and adverse supply conditions are expected to lead to monetary tightening.
September 23, 2026
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FEMA scrutiny of insolvency acquisitions examines fund flows and possible indirect control by potentially ineligible resolution participants.
FEMA investigation concerns suspected foreign-exchange contraventions and the source and movement of funds used to acquire control of McNally Bharat Engineering Company Limited following its corporate insolvency resolution process. The inquiry also examines whether the process may have enabled persons potentially ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to regain indirect control of the company.
September 23, 2026
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Export facilitation reforms integrate local support, digital trade intelligence, and streamlined Free Trade Agreement procedures to improve market access.
Export facilitation reforms contemplate integrated Commerce and Industry offices and trained local personnel to provide exporters with common access points and district-level handholding support. The Trade Connect platform is envisaged to provide product-wise and HSN-code-wise tariff, Free Trade Agreement and procedural information, supported by digital and AI-enabled tools. Reforms also address electronic verification of Certificates of Origin, integration across the export cycle, digitalisation, simplified trade documentation, reduced compliance burden, and adherence to international quality standards.
September 23, 2026
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Monetary policy outlook: resilient growth and persistent inflation support a projected policy-rate increase amid weather and geopolitical risks.
India's FY27 growth outlook is revised upward to 7 per cent from 6.6 per cent, supported by industrial activity, consumption, goods exports and government investment. Consumer inflation is projected to average 5.1 per cent. Persistent inflationary pressures, solid growth, conflict in West Asia and weather-related risks are expected to support higher interest rates, while below-normal monsoon rainfall may affect agricultural output and food inflation.
September 23, 2026
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Trade partnership frameworks seek diversified market access through proposed economic agreements, investment cooperation, stronger business linkages, and improved connectivity.
Trade and market-access cooperation is to be advanced through a proposed Comprehensive Economic Partnership Agreement with Chile, a proposed Free Trade Agreement with Peru, and expansion of the Preferential Trade Agreement with MERCOSUR. The frameworks seek mutually beneficial outcomes while respecting respective sensitivities and priorities. Diversified trade, investment and business partnerships are envisaged through stronger business-to-business linkages, improved connectivity and more predictable market access.
September 23, 2026
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Diplomatic engagement amid armed conflict continues as parties discuss reopening strategic waterways, energy security, and a potential negotiated settlement.
Diplomatic engagement between the United States and Iran resumed amid an ongoing armed conflict. The engagement concerned reopening the Strait of Hormuz and returning to negotiations toward a settlement, while the United States position combined willingness to engage with threats of escalated military action if an agreement was not reached. Regional consultations also addressed risks to oil carriage, energy supplies, and navigation through strategic waterways.

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Customs, DGFT & SEZ

22 FDI Proposals Cleared

November 24, 2007

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Finance Minister, Shri P. Chidambaram has approved 22 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 16th November, 2007. The approval amounts to Rs. 511.4616 crore.  The proposals are related to Ministries/Departments,  namely,  Commerce, Food Processing Industries, Heavy Industry, Industrial Policy & Promotion, Information & Broadcasting, Shipping, Railways  and Economic Affairs.  The major investment proposals pertain to the Ministries/Departments of Heavy Industry, Shipping, Railways and Economic Affairs.

The details of the proposals approved are as follows:

l. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. In crore)

COMMERCE

1   

M/s. Georgia Pacific Kemrock International Pvt. Ltd. Vadodara

Capitalization of pre-incorporation/preliminary expenses made by the foreign investor, by way of issue of shares

No fresh inflow

2

M/s. Metal One Corporation, Japan

To set up a new WOS to undertake the activities of import, maintain stock, inventories and sale of the products within India and overseas.  Proposal attracts Press Note 1 (2005 series)

2.90

3

M/s. Palfinger Asia Pacific Pte. Ltd. Singapore

To set up a trading company with a foreign equity of upto 74% undertake Import and sale to the end users/customers  of Palfinger truck mounted kuckle-booms cranes, hook leaders, etc, and their after sale service. Proposal also involves sourcing of items from SS Sector.

2.90

4

M/s. Eric Kozlowski, USA

To set up a WOS to undertake trading of items sourced from small scale sector

0.25

5

M/s. Crocs Inc.

To set up a new Joint Venture with a foreign equity of 51% to undertake the business of single brand retail trading of footwear and apparels under the single brand CROCS

2.04

FOOD PROCESSING INDUSTRIES

6

M/s. Rejoire Natural Creations Private Limited, Mysore

Induction of foreign equity upto 100% in a company engaged in the manufacture of items reserved for SSI sector viz., manufacture of  natural perfumes and essential oil, handmade products like bags and house hold furniture and natural soft drinks

0.03

HEAVY INDUSTRY

7

M/s. Yachiyo Industry Co. Ltd. Japan

To set up a new WOS to undertake manufacture of plastic fuel tanks for automobiles.  Proposal attracts press Note 1 (2005 series)

30.00

INDUSTRIAL POLICY & PROMOTION

8

M/s. UPM KYMMENE OYZ., Finland

To set up a new JV  with a foreign equity of 50% to undertake the activities of trading in recycled paper

14.50

SHIPPING

9

M/s. CWT International Pte. Ltd. Singapore

To set up a new WOS/Joint Venture company to undertake warehousing, storage and container freight station business and other ancillary/auxiliary activities connected thereto.  Proposal attracts Press Note 1 (2005 series)

24.00

ECONOMIC AFFAIRS

10

M/s. Bluechip Corporate Investment Centre Limited, Mumbai

Induction of FDI in an Investment company which has existing downstream companies. Conversion of operating company into an operating-cum-holding company

20.50

11

M/s. Croupier Prive Private Equity Fund L.P. Delaware

 Investment of upto 5% equity in Central Depository Services Limited

16.00

12

M/s. Maples ESM Technologies  Pvt. Ltd. Chennai

Issue of shares in lieu of acquiring the business of an US company, in IT sector

No fresh inflow

13

M/s. SCICOM Technologies Pvt. Ltd. New Delhi

Issue of shares in lieu of transfer of branch office business of the same foreign investor

No fresh inflow

14

M/s. PTC India Financial Services Limited, New Delhi

Conversion of status of operating company engaged in leasing and finance into operating-cum-holding company, and induction of foreign equity by Goldman Sachs and Macqarie, up to 40%, to make downstream investments in Indian companies engaged in the energy and related infrastructure space sectors

155.74

15

M/a. Angel Infin Pvt. Ltd. Mumbai

Induction of foreign investment by IFC of upto 18% of the equity of the holding company having downstream investments in the companies engaged in the activities of share brokerage, rendering corporate and financial advisory services , portfolio brokerage, commodities broking, distribution of mutual funds and insurance products and software solution services

152.00

16

M/s. Accentia Technologies Limited

Transfer of shares by way of share swap for acquiring 3 US based companies engaged in Health BPO Services

No fresh inflow

INDUSTRIAL POLICY & PROMOTION

17

M/s. Anest Iwata Motherson Ltd.

Conversion of operating company into operating cum holding company to make downstream investment in companies engaged in trading, marketing and servicing of air compressors and associated spare parts & accessories etc.

No fresh inflow

ECONOMIC AFFAIRS

18

M/s. HP Financial Services (I) Pvt. Ltd.

To undertake additional activities of financing and leasing

No fresh inflow

19

M/s. Smartronics Solutions India Pvt. Ltd.

Issue of shares against advance paid for purchase of second hand machinery

No fresh inflow

INDUSTRIAL POLICY & PROMOTION

20

M/s. Rajasthan Leather Industries Ltd, Jaipur

Issue of shares against amount received in the account of a third company due to the account of the investee company being frozen

No fresh inflow

RAILWAYS

21

M/s. Sical Infra Assets Ltd, Chennai

Induction of foreign equity upto 26% in  investing companies in infrastructure sector

106.6

INFORMATION & BROADCASTING

22

M/s. Wai Wire and Cable Services Private Limited, USA

To undertake additional activities of publishing specialty journal under the title "Wire Bulletin"

No fresh inflow

Total 511.4616 Cr

3. The following 13 (thirteen) proposals have been recommended to be deferred:           

Sl.No

Name of the applicant

Particulars of the proposal

1.

M/s. AVA Seeds Pvt. Ltd. Bangalore

change in the status of the operating company into an operating cum holding company for making further downstream investments.  Proposal also  attracts Press Note 1 of 2005

2

M/s. Dolce & Gabbana

To set up a Joint venture company with 51% foreign equity  to undertake the business of single brand retail trading of all kinds of fashion and lifestyle products under the brand name "Doice & Gabbana" and "DG Dolce & Gabbana"

3

M/s. Global Assets Holding Corporation Private Limited, Mumbai

FDI in a holding company having subsidiaries in the Telecom Sector  

4

M/s. Sistema Joint Stock Financial Corp. Russia

Increase of FDI from 10% upto 74% in a company engaged in telecom sector

5

M/s. Universal Success Enterprises Ltd, Tortola

To set up a WOS to hold downstream investments in various Indian companies engaged in development of SEZs

6

M/.s. Universal Success Enterprises Ltd., Tortola

To set up a WOS to hold downstream investments in various Indian companies engaged  development of infrastructure development projects, tourism, convention centre, Industrial Parks (including IT parks)  etc. in development of SEZs

7

M/s. Universal Success Enterprises Ltd, Tortola

To set up a WOS to hold downstream investments in various Indian companies engaged in development of Office parks (including industrial Parks and IT Parks)

8

M/s. JSW Energy Ltd, Mumbai

Induction of foreign equity in an Indian company which has existing downstream ventures. Conversion of operating company into operating cum holding company.

9

M/s. Bycell Telecommunications India Pvt. Ltd.

To undertake activities of offering GSM based cellular telephone services under UAS License agreement all over India, and increase in paid up capital of the company

10

M/s. Grupo Omnilife S.A. de C.V. Mexico

To establish a WOS to undertake test marketing  and manufacture, sell and distribute its proprietary nutritional food supplements and cosmetic products through its WOS in India

11

M/s. KNOX Holding Pte. Ltd. Singapore

Transfer of shares held by an OCB by way of sale by a foreign investor. The promoters of the Indian Company and the new foreign investors are same.

12

M/s. Redington (India) Limited, Chennai

Conversion of operating company into an operating cum holding company to make downstream investments into NBFC activities

13

M/s. Dumeric Holdings Private Limited, Mumbai

Conversion of status of operating company into operating cum holding company

The following 3 (three) proposals have been recommended to be rejected:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s. Flemingo Duty Free shop Pvt. Ltd.

To undertake additional activities of cash and carry whole sale trading in addition to operating duty free shops

2

M/s. Flemingo (DFS) Pvt. Ltd.

To undertake additional activities of selling duty free goods to hotels against duty credit in addition to operating duty free shops

3

M/s. Elken International  India Pvt. Ltd.

To undertake cash and carry wholesale trading of the items earlier permitted for test marketing

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