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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
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August 21, 2026
Show AI Summary
Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
Show AI Summary
Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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Customs, DGFT & SEZ

Surrendering of SEZ Projects.

August 17, 2011

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Press Information Bureau
Government of India
Ministry of Commerce & Industry

17-August-2011 17:32 IST

Surrendering of SEZ Projects

             Requests are being received for de-notification of the notified SEZs from time to time. 

 

            From December, 2008 till 31 July, 2011, the Board of Approval on SEZ has approved 33 such cases subject to the refund of duty benefits availed, if any, by the developer. The details of the 33 cases approved by the BOA for denotification are annexed. The reasons for these requests, wherever indicated by the applicants, range from economic meltdown, poor market response, non-availability of skilled labour force, no demand for IT/ITES space and imposition to Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) on Special Economic Zones (SEZs).

 

             In all such cases, where the Board of Approval on SEZ has approved denotification of the SEZ, it is subject to the refund of duty benefits availed, if any, by the developer.

 

 

ANNEXURE

Requests for de-notification considered by BoA

S. No.

Name of the Developer

Location

Sector

Date of approval by  BoA

1

M/s. Shivaji Marg Properties Limited

15, Shivaji Marg

IT/ITES

8th December 2008

2

M/s. DLF Limited

Gandhinagar, Gujarat

IT/ITES

2nd June 2009

3

M/s. DLF Limited

Rai, Sonepat, Haryana

IT/ITES

2nd June 2009

4

M/s. DLF Limited

Bhubaneswar, Orissa

IT/ITES

2nd June 2009

5

M/s. K. Raheja Universal Pvt. Ltd.

Navi Mumbai, Maharashtra

IT/ITES

19th June 2009

6

M/s. Maytas Ventures SEZ Pvt. Ltd.

Gundla Pochampalli village, Ranga Redy District, Andhra Pradesh

Biotech

11th August 2009

7

M/s. Lahari Infrastructure Ltd.

Kondakal village, Shankarpally Mandal, Ranga Reddy District, Andhra Pradesh

Services Sector

5th November 2009

8

M/s. Essar SEZ Hazira Limited

Hazira, Gujarat

Engineering

15th December 2009

9

M/s. Royal Palms India Private Limited

Survey number 169, Aarrey Milk Colony, Goregaon (East) Mumbai, Maharashtra

IT/ITES

15th December 2009

10

M/s. TCG Urban Infrastructure Holdings Limited

Thrikkakara North village, Kanayannur Taluk, Ernakulam District, Kerala

Biotechnology

11th February 2010

11

M/s. Sanvo Resorts Pvt. Ltd.

Panvel, Maharashtra

IT/ITES

11th February 2010

12

Electronics Corporation of Tamil Nadu Limited (ELCOT)

Sholinganallur II and Perumbakkam villages, Tambaram Taluk, Kancheepuram District, Tamil Nadu

IT/ITES

11th February 2010

13

M/s. Estra IT Park Pvt. Ltd.

Mount Poonamallee High Road, Iyyapanthangal, Porur, Chennai, Tamil Nadu

IT/ITES

9th April 2010

14

Unitech Infopark Limited

Village Nallambakkam, Taluk Chengalput, Kancheepuram, Chennai, Tamil Nadu

IT/ITES

9th April 2010

15

M/s. Bata India Limited

villages Jagtala and Bangla, District South 24 Parganas, West Bengal

IT

8th June, 2010

16

M/s. Base Realty Private Limited

Village Hinjewadi, Taluka Mulshi, Pune, Maharashtra

IT/ITES

16th September, 2010

17

M/s. Raheja Universal Limited

Raheja Infocity – 1, Plot No. 2/1/B, Block –D, Trans –
Thane, Maharashtra

IT/ITES

16th September, 2010

18

M/s. JSL Limited

Kalinga Nagar, Orissa

Stainless Steel

16th September, 2010

19

Omnibus Industrial Development Corporation of Daman and Diu and Dadar and Nagar Haveli Limited.

Village Kharadpada, District Naroli of Dadra and Nagar

IT/ITES

18th November, 2010

20

M/s. Medicaps IT Park Private Limited

M/s. Medicaps IT Park Private Limited

IT/ITES

14th January, 2011

21

M/s. Neogen Properties Private Limited

Hindupur, District Anantapur, Andhra Pradesh,

Apparel

14th January, 2011

22

State Industrial Development Corporation of Uttarakhand Limited (SIDCUL)

Dehradun,
Uttarakhand,

IT/ITES

14th January, 2011

23

Maharashtra Industrial Development Corporation Ltd.

Distt Solapur, Maharashtra

Textile Industry

25th March, 2011

24

M/s. Satyam Computer Services Ltd.

Thotlakonda, Visakhapatnam

IT/ITES

31st May, 2011

25

S2tech.com India Private Limited

Gudur Village, Kandukur Mandal, Ranga Reddy District, Andhra Pradesh

Electronic Hardware including IT and ITES

31st May, 2011

26

Maharashtra Industrial Development Corporation Ltd.

District Yavatymal, Maharashtra

Textile Industry

31st May, 2011

27

Mansarovar Industrial Development Corporation

Jodhpur, Rajasthan

Handicraft

31st May, 2011

28

Bengal Shapoorji Infrastructure Development Pvt. Ltd.

A-III, New Town, Rajarhat,
Kolkata, West Bengal

IT/ITES

31st May, 2011

29

M/s. Oval Developers Private Limited

Mouza-Banagram and Sarmasterchowk, District-24 Parganas (South), West Bengal

Electronic Hardware and Software

22nd July, 2011

30

M/s Airmid Developers Limited

Sector – 106, village Pawala Khusrupur, Gurgaon, Haryana

IT/ITES

22nd July, 2011

31

M/s. Yashprabha Enterprises

Village Pothandi, Taluka Chiplun, District Ratnagiri, Maharashtra

Biotechnology

22nd July, 2011

32

Karnataka Biotechnology and Information Technology Services (KBITS)

Electronic City, Phase III, Bangalore, Karnataka

Biotechnology

22nd July, 2011

33

M/s. N.G. Realty Private Limited

Village Rajoda, District Ahmedabad, Gujarat

Engineering

22nd July, 2011

 

     This information was given by the Minister of State for Commerce and           Industry Shri Jyotiraditya M. Scindia in a written reply to a question, in the  Rajya  Sabha today.

 

DS/gk

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