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August 29, 2026
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Market access and regulatory cooperation advance agricultural, pharmaceutical, digital, and trade integration priorities across the bilateral economic partnership.
India-Argentina cooperation focused on expanding bilateral trade, reducing non-tariff barriers, facilitating investment, and strengthening market access. Sanitary and phytosanitary discussions progressed for Indian agricultural products, while pharmaceutical engagement covered regulatory upgrading and reduced entry barriers. Mining and lithium-sector engagement, digital services, space technology, telecommunications, artificial intelligence and digital infrastructure were identified as priority areas. The India-MERCOSUR Preferential Trade Agreement, Terms of Reference and digital certificates of origin were considered mechanisms for trade facilitation and economic integration. Business discussions addressed commercial partnerships across agriculture, minerals, energy, pharmaceuticals, healthcare, banking and telecommunications.
August 29, 2026
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Shared digital infrastructure for professional services aims to expand technology access, interoperability, capability development and secure adoption across firms.
MCA and IICA are developing a government-backed digital public good ecosystem for domestic professional services, particularly small and medium practices. The framework proposes curated technology access, learning and capability development, and knowledge and practice infrastructure. It is intended to improve access to technology and professional knowledge while complementing existing institutional and market-based systems. Consultations address interoperability, common standards, cybersecurity, affordable access, implementation, change management, openness, competition and technology adoption suited to differing levels of digital readiness.
August 29, 2026
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Methamphetamine trafficking enforcement targets concealed cross-border transport, with seizures, vehicle confiscation, arrests and stringent penalties under narcotics law.
Methamphetamine trafficking enforcement under the Narcotic Drugs and Psychotropic Substances Act, 1985 involved intelligence-led seizures of tablets in Assam and Mizoram, along with the vehicles allegedly used for transportation and arrests of two vehicle occupants. Field testing indicated the presence of amphetamine. The tablets were concealed in fabricated cavities within a truck and car, with preliminary investigation indicating alleged cross-border smuggling into Mizoram. Methamphetamine is a notified psychotropic substance, and illicit manufacture, possession, transportation and trafficking attract stringent penal consequences.
August 29, 2026
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IPO disclosure integrity triggers one-year market access bar for issuer and promoter-directors over fabricated quotation and misleading financial disclosures.
SEBI restrained Trafiksol ITS Technologies Ltd. and its promoter-directors from accessing or dealing in the securities market for one year and imposed monetary penalties over irregularities in its SME IPO. The action concerned overstated financial disclosures, inadequate disclosure of issue expenditure and a potential merchant-banker conflict, and proposed use of IPO proceeds based on a fabricated software-vendor quotation. The listing was deferred and IPO proceeds were placed in an interest-bearing escrow account. One promoter was directly involved in procuring the quotation, while the other failed to exercise due diligence.
August 29, 2026
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Securities market fraud involving fictitious transactions triggered market bans, disgorgement, fund restoration, and governance restrictions.
SEBI imposed securities-market restrictions, disgorgement directions and monetary penalties in relation to alleged accounting fraud involving fictitious sales, purchases, circular transactions and fraudulent ledger entries. The alleged inflation of financial results facilitated migration to the NSE main board and was followed by fraudulent preferential allotments, a bonus issue and a rights issue. Rights issue proceeds were found to have been diverted, requiring restoration with applicable interest. The company and its managing director received seven-year market prohibitions, with additional governance restrictions applying to the managing director.
August 28, 2026
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Insolvency debt settlements: political criticism alleges severe creditor haircuts favour influential corporate borrowers over ordinary debtors.
CPI(M) criticised approval of a repayment plan involving Zee Group founder Subhash Chandra, asserting that repayment of Rs 6.5 crore against creditor claims of Rs 22,006.57 crore undermines fairness in insolvency debt settlement. It alleged severe creditor haircuts and bias favouring influential corporate borrowers. The party linked the settlement to an alleged pattern of large borrowers resolving liabilities at steep discounts, shifting the burden to taxpayers and small depositors while smaller borrowers face coercive recovery measures.
August 28, 2026
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Corporate governance requires company secretaries to promote ethical practices, transparency, responsibility and institutional accountability across economic ecosystems.
Good corporate governance is central to development and depends on responsible governance, ethical practices, transparency, institutional accountability and professional excellence. Company Secretaries have an expanding role in strengthening governance practices through professional expertise. Professional institutions should promote governance standards, support institutional excellence, and evolve their practices in response to changing requirements. Their wider contribution lies in fostering a culture of ethical entrepreneurship, responsibility, transparency and sound governance.
August 28, 2026
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Proceeds-of-crime tracing prompts freezing of deposits linked to structured disposal of foreign property in a bank-loan fraud investigation.
Money-laundering investigation into alleged bank-loan fraud involving DHFL has resulted in the freezing of bank deposits held by Al Jalore Trading FZE under the Prevention of Money Laundering Act. A United Kingdom property was allegedly disposed of through a purported loan arrangement that created an encumbrance to settle an Indian liability. Sale proceeds were credited to Al Jalore Trading FZE's Indian bank account rather than to the registered owner, indicating alleged dissipation of proceeds of crime through a structured foreign-property transaction.
August 28, 2026
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Defence export authorisation reform streamlines consultations, expands unified licences, and facilitates eligible exporters' access to international markets.
Open General Export Licence arrangements permit eligible exporters to self-generate authorisations for multiple consignments of specified defence items without obtaining separate authorisation for each consignment. Three existing licence procedures are consolidated into a unified framework. Licence validity is extended to three years, and territorial coverage is expanded to all countries other than negative or sensitive nations and destinations subject to United Nations Security Council sanctions or arms embargoes. Eligible companies with long-term foreign original equipment manufacturer agreements may obtain licences aligned with the underlying contract, subject to prescribed conditions.
August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.

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Speech of the Union Finance Minister Shri Pranab Mukherjee Delivered on 70th Death Anniversary of Late Rabindranath Tagore ‘Remembering Rabindranath Tagore’ At National Museum Auditorium, New Delhi, On 8 August 2011: 1700-1745 Hrs.

August 9, 2011

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Press Information Bureau

Government of India

Ministry of Finance

08-August-2011 21:01 IST

Speech of the Union Finance Minister Shri Pranab Mukherjee Delivered on 70th Death Anniversary of Late Rabindranath Tagore ‘Remembering Rabindranath Tagore’ At National Museum Auditorium, New Delhi, On 8 August 2011: 1700-1745 Hrs

Honourable Minister of Culture, Kumari Selja,

Chairman, Sangeet Natak Akademi, Shrimati Leela Samson, Secretary, Ministry of Culture,  Jawahar Sircar,

Distinguished guests

This is a sombre moment:  As I stand here,  on the  71st Punya Tithi of Rabindranath Tagore, I can  see the opening shot of Satyajit Ray’s iconic documentary film on the poet which, fifty years ago, received a coveted award at the Locarno film festival in Switzerland. As the carriage in which Rabindranath lay,  wreathed in flowers, crawled  through the  mass of humanity, swirling all around with grief,   the  baritone  voice of Satyajit Ray  came out with the words:

“On the 7th of August, 1941, a man died in Calcutta.  His mortal frame perished in flames, but he left behind a legacy of words and music, of art and thought, that will be cherished for a long time to come.”

These are simple words that reach deep into the life of an extraordinary creator.

2)      It required not much foresight to declare that Tagore’s work would be cherished for long.  At the same time, its truth is evident after the passage of a century and half that separates us from his birth in 1861.  Clearly, Tagore matters, and matters over an even larger field than he had commanded seventy years ago.  In the intervening years, his work has dispersed widely in the country and abroad, wafted by the winds, so to speak.  This process has been hastened  by the freedom from  copyright on his work: Tagore is now totally in the public domain.

3)      He was an activist.  When he found, the colonial education system was destroying the talent, creativity of the people of India,   he established the great institutions of Shantiniketan where all ideas, thoughts, philosophy were allowed to be blown uninterruptedly.  This Ashram school later became a Central University with a distinction of Prime Minister of India as its Chancellor starting from Jawaharlal Nehru today.  The basic motto of the University ‘Yatra visvam bhavatyekanidam’, where the world makes a home in a single nest.

4)      He was a traveler – a real Parivrajaka.  He travelled the continents of Europe, America, Latin America, East and Far East.  Everywhere he discovered the relation between man and man.  To him artificial barriers of border, domicile, and religion cannot separate one human being from other.  He believed in universal brotherhood throughout his life and through his writings, he preached this ideal.  Imperial aggressions, brutal forces, mercantile greed, are not enemies to any individual country or society or religion but it is an aggression on humanity itself.

Therefore, there is no wonder, he writes in ‘Light of Asia’, when Korea suffers from imperial aggression.  When the brutal colonial power exploits and destroys the spirit of African continent, his pain and agony are manifested abundantly.  Simply, he was a universal humanist.

5)      However, a creator lives in the public domain not by legal provision, but because his work finds resonance in the hearts and minds of the public.  So it has been with Rabindranath’s work.  The key to its success with new generations of readers, listeners, and viewers is the usefulness it holds for every section of people. But if thoughts alone were all that Tagore had to offer, he would be just another didactic and a very worthy writer.  But Tagore was not just a visionary or an ideologue.  He was a narrator of the   story of life, and the herald of a better and possible future.

This narrative flowed out of him copiously through various channels – poetry, fiction, music, dance, drama and finally painting – clothed in forms of beauty.  Exhausting the possibilities of one medium, he seems to have reached for another, never stopping in his quest till the last.  It is thus that he bequeathed to us his legacy of word and song.

6)      Music was central to Tagore’s soul, and he sensed through it an order of things beyond the mundane world.  I can do no better than to quote the poet before I close this brief address:

“Deep in the heart of this universe of creation and immanent with it, there is a kind of throbbing of life.  Music conveys to us a feeling of this heart-throb of universal harmony.  Life of Man as a whole forms part of this great symphony . . .  The sun, the moon, the planets and the stars, the trees and herbs – all of them contribute their tune to this great music of the Universe.”

                   7)      The National Committee,  that has been set up under the Prime Minister, with several other noted personalities and experts,  have given their advice.  The National Implementation Committee,  which I have the honour of chairing,  has then laid down precise tasks, projects and programmes,  to commemorate the everlasting genius of Tagore.  I congratulate the Ministry of Culture and other Ministries and  organizations for carrying out this task,  with so much sincerity and in such a grand manner.

8)      As we pay our tribute to this great man, we would do well to remember his was an existence,  that was enhanced by beauty and a harmony that arose from the interplay of all the finest elements and aesthetics,  that the world can bestow on a worthy son.

Thank you.

…..

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