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    Cyber fraudsters invent 'boss' scam to target companies; Ahmedabad cops bust international network
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    Zeeba Revamps Packaging and Announces Chef Vikas Khanna as Its Global Brand Ambassador
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August 18, 2026
Show AI Summary
Boss scam prevention requires independent verification of payment requests and avoidance of malicious WhatsApp attachments that enable executive impersonation.
Boss scam, or CEO impersonation fraud, uses malicious WhatsApp attachments and impersonation of regulatory officials or company executives to obtain control of WhatsApp sessions and issue fraudulent payment instructions. The alleged network supplied SIM cards, dummy SIMs, WhatsApp accounts and one-time passwords to cyber-fraud operators, illustrating a Cybercrime as a Service model. Preventive measures include avoiding suspicious ZIP, executable, library and APK files and independently verifying all financial-transfer requests.
August 18, 2026
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Floating-rate personal loan prepayment protections prohibit charges and compulsory lock-ins for qualifying individual non-business borrowers from 2026.
Prepayment charges are prohibited for part or full repayment of qualifying floating-rate loans availed by individual borrowers for non-business purposes and sanctioned or renewed on or after 1 January 2026. Compulsory lock-in periods cannot restrict prepayment of such loans. Fixed-rate personal loans may still attract prepayment or foreclosure charges under lender policy and contractual terms. Borrowers should check the loan's rate type, sanction letter, loan agreement and key fact statement, where applicable, and compare applicable charges with potential interest savings before early repayment.
August 18, 2026
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Premium Basmati rice positioning drives Zeeba's packaging refresh and ambassador-led campaign focused on quality, authenticity and domestic expansion.
Zeeba has refreshed its packaging and appointed Chef Vikas Khanna as global brand ambassador to support expansion in India. Its "Aisa Basmati Nahi Dekha" campaign positions the brand around export-quality Basmati rice, consistency, authenticity and a superior culinary experience. Promotional activity will extend across digital, retail and consumer touchpoints. The premium Basmati range is described as carefully sourced, naturally aged and processed according to global quality standards, with emphasis on grain quality, authentic taste, purity and consistency.
August 18, 2026
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Silver-collateral lending creates a formal secured-credit channel for eligible borrowers, subject to regulatory requirements and lender policies.
Loans against silver collateral have been introduced following the Reserve Bank of India's Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as security. The offering provides a formal and transparent credit channel against eligible silver jewellery, ornaments and approved silver coins. It is intended for individuals, proprietors and MSMEs requiring liquidity for personal, business and other legitimate financial needs, subject to lending policies and applicable regulatory requirements.
August 18, 2026
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Healthcare discount membership provides instant savings on out-of-pocket care at participating premium providers without insurance claims or paperwork.
CarePass is a healthcare savings membership card providing instant point-of-billing discounts at participating premium healthcare providers across India. It covers out-of-pocket spending on hospital treatment, diagnostics, dental, vision, dermatology, hair and skin care, and IVF and maternity services, without claim processing, waiting periods or paperwork. Members present a digital CarePass at a participating provider to receive the applicable discount. Four membership tiers offer differing benefits, with higher tiers including tele-consultations and annual health checks. CarePass is a discount membership and not an insurance product.
August 18, 2026
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EXIM operations at Vizhinjam commence with container movement, supported by investor facilitation, infrastructure backing and port-led logistics development.
EXIM operations at Vizhinjam international seaport commenced with the flagging off of two containers after a successful trial export shipment. The state government proposes investor engagement, regulatory facilitation and infrastructure support to expand global export activities through the port. Mission Samudra is to operate as a port-led industrial and logistics development scheme. The deep-water port was developed under a public-private partnership model and had received commercial commissioning certification.
August 18, 2026
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Money-laundering investigation under PMLA expands through searches into alleged consultancy payments linked to CMRL and Exalogic Solutions.
Money-laundering investigation under the Prevention of Money Laundering Act involves fresh searches connected with Cochin Minerals and Rutile Ltd and Exalogic Solutions. The inquiry concerns alleged fraudulent payments made under the guise of IT consultancy services and a purported money trail involving persons allegedly connected with those transactions. The action follows earlier searches and questioning in relation to the same matter.
August 18, 2026
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Recruitment examination irregularities trigger money-laundering investigation into alleged bribery, paper leaks, answer-sheet tampering, and preferential veterinary officer selections.
Money-laundering investigation under the Prevention of Money Laundering Act concerns alleged irregularities in veterinary officers' final selection through a public recruitment examination. Searches covered premises linked to commission officials, alleged intermediaries, the digital evaluation entity, and selected candidates. Allegations include bribery demands, examination-paper leakage, OMR answer-sheet tampering, and facilitation of selection for relatives of commission officials.
August 18, 2026
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Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
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Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
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RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
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Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
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Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
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FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.

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Corp. Laws, SEBI & IBC

Year End Review of Ministry of Statistics & Programme Implementation ( MoSPI)

December 18, 2017

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1. The Ministry of Statistics and Programme Implementation has two wings, one relating to Statistics and the other Programme Implementation. The Statistics Wing called the National Statistical Office(NSO) consists of the Central Statistical Office (CSO), the Computer centre and the National Sample Survey Office (NSSO). The Programme Implementation Wing has three Divisions, namely, (i) Twenty Point Programme (ii) Infrastructure Monitoring and Project Monitoring and (iii) Member of Parliament Local Area Development Scheme. Besides these two wings, there is National Statistical Commission created through a Resolution of Government of India (MOSPI) and one autonomous Institute, viz., Indian Statistical Institute declared as an institute of National importance by an Act of Parliament.

2.  The Ministry of Statistics and Programme Implementation attaches considerable importance to coverage and quality aspects of statistics released in the country. The statistics released are based on administrative sources, surveys and censuses conducted by the Central and State Governments and non-official sources and studies. The surveys conducted by the Ministry are based on scientific sampling methods. Field data are collected through dedicated field staff. In line with the emphasis on the quality of statistics released by the Ministry, the methodological issues concerning the compilation of national accounts are overseen Committees like Advisory Committee on National Accounts, Standing Committee on Industrial Statistics, Technical Advisory Committee on Price Indices. The Ministry compiles data sets based on current data, after applying standard statistical techniques and extensive scrutiny and supervision.

3.  India is a subscriber to the International Monetary Fund (IMF) Special Data Dissemination Standards (SDDS) and is currently fulfilling the Standards. The Ministry maintains an ‘Advance Release Calendar’ for its data categories covered under the SDDS, which is disseminated on the Ministries website as well as on the Dissemination Standards Bulletin Board (DSBB) of the IMF. The Ministry releases the data sets covered under the Real Sector of SDDS through press notes, Press Information Bureau Press releases and its web-site simultaneously. The Ministry has been designated as the nodal Ministry to facilitate the implementation of the SAARC Social Charter in India. The Ministry organizes technical meetings on a regular basis on various topics to assess the data-gaps in the system and the quality of statistics currently released. The CSO staff participates in meetings and seminars organized by international and regional organizations such as the United Nations Economic and Social Commission for Asia and the Pacific, on statistical compilations and international practices. The Indian statistical system is one of the best systems in the world. The Ministries officials have been associated with international agencies on the development of methodologies, particularly in the areas of national accounts, informal sector statistics, large-scale sample surveys, conduct of censuses, service sector statistics, non-observed economy, social sector statistics, environmental statistics and classifications. The contribution of the Ministries officials in international meetings on these subjects is highly appreciated.

4   This year has been very significant year in terms of major policy decisions and adoption of new technology and systems for more efficient and effective data management and dissemination. Following are the major highlights of the activities of the Ministry during the year 2017:

5.   United Nations Fundamental Principles of Official Statistics

Adopted since June 2016, to enhance professional independence, impartiality, accountability and transparency in methods of collection and dissemination of Official Statistics;

Adoption of these principles would help build and retain trust of the public in Official Statistical System and honour citizens’ / users’ entitlement of Official Statistics as ‘public good’.

Revision of Base Year of GDP and related Macro-economic aggregates

Macro-economic aggregates of National Accounts like GDP, Savings, Capital Formation, etc. released by CSO are indicators of the country’s economic health;

Base Year of National Accounts revised from 2004-05 to 2011-12 in 2015.

Improvements in the Revised Series include:

Use of corporate sector data of Ministry of Corporate Affairs for about 5.5 lakh companies in mining, manufacturing and services sectors

Use of latest data of National Sample Survey

Improved coverage of Local Bodies and Autonomous Institutions

Revision of Base Year of Index of Industrial Production (IIP)

IIP estimates revised periodically through Base Year Revision.

New series of IIP released on 12th May 2017 with change of Base Year from 2004-05 to 2011-12.

The structural changes in the industrial sector over the years are better captured in the revised series.

New series indices are more robust and representative with the change in methodology of drawing items / weights and factories.

Revision of Base Year of Consumer Price Index (CPI)

Revised series of CPI launched in January 2015

Base Year changed from 2010 to 2012

Basket of items and weighing diagram based on Modified Mixed Reference Period (MMRP) of Consumer Expenditure Survey – consistent with International Practice.

Use of Geometric Mean of Price Relatives with respect to Base Prices for elementary indices – Also consistent with International Practice.

Sample size for house rent data doubled from 6,684 to 13,368.

Periodic Labour Force Survey (PLFS)

Large scale employment surveys in India have so far been conducted usually at 5-year intervals.

PLFS launched in April 2017 to obtain employment data at shorter intervals.

PLFS aims to –

(i) Measure quarterly changes in statistical indicators of labour market in Urban Areas;

(ii) Generate annual estimates of labour force indicators in both Rural and Urban Areas.

PLFS will use the Computer Assisted Personal Interview (CAPI) technique, which involves direct entry of data in Tablets at the field level. This will lead to higher accuracy and faster processing of data.

Collection of Statistics (Amendment) Bill 2017

Collection of Statistics Act, 2008 is a Central Act that allows Central, State and Local Governments to collect statistics on socio-economic aspects;

This Act is not applicable to J&K.

To address this legislative vacuum, the Collection of Statistics (Amendment) Bill, 2017 has been introduced in Parliament during Budget Session 2017.

Revision of Advance Release Calendar of GDP Estimates

Before 2017, First Advance Estimates of GDP were usually released on 7th February, 3 weeks before the date of presentation of Union Budget

The First Advance Estimates of GDP constitute important inputs in formulation of Union Budget for the forthcoming year

With the date of presentation of Union Budget for 2017-18 advanced from 28th February to 1st February in 2017, MoSPI made available the First Advance Estimates of GDP on 6th January, 2017 well before the presentation of the Union Budget

This revised release calendar will henceforth be adopted for subsequent years.

Surveys of NSSO

NSSO has been conducting large scale surveys on multi-purpose socio-economic subjects

During last three years, NSSO conducted surveys on

Domestic Tourism Expenditure;

Household Consumption Expenditure on Services and Durable goods;

Unincorporated Non-Agricultural Enterprises in Manufacturing, Trade and Other services sector (excluding Construction); and

Enterprise focussed Survey of Services Sector

Standardisation of procedures, E-governance and Data Dissemination

National Accounts Division of CSO and Survey Design & Research Division of NSSO have been certified ISO-9001:2008 compliant for quality of performance.

Data Dissemination through website of Ministry brings an improvement in overall usability quotient and technical competence

Recent adoption of the IHSN toolkit by MoSPI, as per International practice, for creating a web-based Survey Data Catalogue/ Micro Data Archive to disseminate NSS Survey, ASI and Economic Census Data.

Bharatkosh, e-receipt portal gateway, has been set up for use by Indian users for dissemination of Unit level data of NSS, ASI and Economic Census. Introduction of online payment by non-Indians for supply of data is in the pipeline.

NSSO has undertaken the work of digitisation of Urban Frame Survey (UFS) maps in collaboration with National Informatics Centre (NIC) and the National Remote Sensing Centre (NRSC). This will help in improvement of identification and demarcation of boundaries for smooth data collection.

Use of technology in data collection

Computer Assisted Personnel Interviewing (CAPI) technique for data collection through tablets will be used in PLFS

Web-portal for collection of data directly from data source for the Annual Survey of Industries (ASI)

Submission of online data for Consumer price Index (CPI) – By NSSO field offices for urban areas and by designated Post offices for rural areas

These measures lead to reduction in time lag in compilation and release of data.

Sustainable Development Goals (SDGs)

In September 2015, UN adopted the Resolution on ‘Transforming our World: The 2030 Agenda for Sustainable Development’ consisting of 17 Sustainable Development Goals (SDGs) and associated 169 targets to be achieved by 2030

India is one of the countries that are party to this resolution

Comprehensive exercise for mapping of SDG Goals and Targets vis-à-vis national development strategies undertaken

Draft framework of indicators has been developed and is under finalization

Regional SDG Workshop, involving all States/UTs were held at Ahmedabad, Lucknow, Chennai, Guwahati, Bhubaneswar.

Recent Initiatives on Multilateral Forums

MoSPI organised 8th Meeting of Heads of National Statistics Offices (NSOs) of BRICS Nations in November, 2016 in India to discuss issue of Statistical measurement.

India also hosted the 8th Meeting of Heads of SAARC Statistical Organizations (SAARCSTAT) in August 2016 to promote enhanced regional co-operation and initiatives in the field of Official Statistics for SAARC Nations.

India has co-chaired the meeting Friends of Chair (FOC) group, constituted for the evaluation of International Comparison Programme (ICP), 2011, at the 47th Session of United Nation Statistics Commission at New York in March, 2016.

India has co-chaired the ICP Governing Board meeting held in November, 2016 at Washington, DC, USA, and also the meeting of Regional Advisory Board (RAB) held in January, 2017 at Hanoi, Vietnam.

The 32nd meetingof the Voorburg Group on Service Statistics was hosted by the Ministry during 23rd to Friday the 27th of October 2017.

Capacity Building of States/UTs

Trainings/ workshops organised for the statistical personnel of the State/UT Governments to strengthen their technical capabilities and to apprise them of the developments in the field of Official Statistics. These programmes were held in different States across the country to facilitate better participation

Grants released to various States/ UTs for improving their Statistical infrastructure under Support for Statistical Strengthening Scheme – including physical infrastructure as well as skill enhancement of personnel

Members of Parliament Local Area Development Scheme (MPLADS)

The Scheme is implemented as per the provisions of the Guidelines on MPLADS

Several amendments have been made in Guidelines of the Scheme to cater to the welfare requirements of the general public.

A few major amendments are:

Ceiling for contribution of Hon'ble MPs in case of calamity of severe nature raised from ₹ 50 lakh to ₹ 1 crore

Purchase of medical equipment costing not less than ₹ 5 lakh made permissible for Government Hospitals

Purchase of equipment for skill development allowed

Financial assistance allowed for purchase of tricycle (manual/battery/operated/motorized), wheelchair (motorized/battery operated) and artificial limbs for differently abled deserving persons with disabilities

Purchase of ambulances for transporting sick/injured animals allowed

Integrated MPLADS Portal for use of all the stakeholders developed that also provides an opportunity to the Citizens for suggesting the developmental works in their areas to the Hon’ble MPs.

Monitoring of Infrastructure Projects

On-going Central Sector Infrastructure Projects costing ₹ 150.00 crore and above are being monitored on time and cost overruns through an Online Computerized Monitoring System (OCMS)

OCMS enables project implementing agencies to regularly upload the status of projects in real time

A total of 229 projects completed in last 3 years as a result of close monitoring

Cost overruns have come down from 19% in March 2014 to 11.19% in January 2017

Publications

Millennium Development Goals Final Country Report of India

National Accounts Statistics 2017

Sarvekshana 103rd issue

Annual Report on TPP 2006 for the year 2015-16

Achieving Millennium Development Goals: Target year factsheet - India

Domestic Tourism in India

Key Indicators of Unincorporated Non-Agricultural Enterprises (Excluding Construction) in India (July 2015-June 2016)

Statistical Year Book India 2017

Selected Socio-Economic Statistics

Indian Statistical Institute

Setting up of RC Bose Centre for Cryptology and Security Conduct of Joint Post Graduate Diploma Course on Business Analytics with IIT, Kharagpur and IIM, Kolkata. Setting up the DBT funded Systems Medicine Cluster as a member of the consortia of six prominent Institutes in and around Kolkata, led by National Institute of Biomedical Genomics (NIBMG), Kalyani, West Bengal. ISI is a major participant in technology development of Indian languages like Hindi, Bengali, Gujarati, Tamil, Telugu etc.

Covers: Translation, Information Retrieval, Optical Character Recognition, Handwriting recognition and Corpora Development

Major breakthrough in theoretical research like solving the Zariski Cancellation Problem that was open for several decades.

ISI has also been involved in

  • Estimation of counterfeit currency
  • International Passenger Survey
  • Evaluation study of the MNREGA scheme over several states of India
  • Evaluation of Border Area Development Program in West Bengal and several North Eastern States

Regional Sustainable Development Goals (SDG) Workshops

Five regional SDG workshops involving all States/UTs were held at Ahmadabad, Lucknow, Chennai, Guwahati and Bhubaneswar.

Review of Central Sector Projects and MPLADS

Union Minister Shri Sadanand Gowda reviewed Central Sector Projects and MPLADS in Manipur, Tripura, Meghalaya and Karnataka.

Minister of State Shri Vijay Goel reviewed Central Sector Projects and MPLADS in Jhansi, Jammu, Amritsar and Bikaner.

Data Users’ workshop for new series of all-India IIP

The Ministry has organised a half-day Data Users’ Workshop for new series of all-India IIP at Vigyan Bhawan New Delhi on 30.08.2017 with a view to apprise the users of IIP about the changes introduced in the new series with base 2011-12.

Topics

Acts Income Tax