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    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
    RTI seeks Aadhaar date-of-birth changes after pre-poll Bihar pension hike; UIDAI says no such data
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September 2, 2026
Show AI Summary
NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
Show AI Summary
Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
Show AI Summary
Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
Show AI Summary
Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
Show AI Summary
Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
Show AI Summary
Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
Show AI Summary
E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.
September 1, 2026
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Foreign exchange market dynamics: rupee appreciation reflected portfolio inflows, domestic growth, and possible central-bank intervention amid external pressures.
The rupee appreciated against the US dollar, supported by domestic growth, controlled fiscal slippage, portfolio-related inflows and possible Reserve Bank of India intervention. Its gains were limited by weak equity markets, rising crude oil prices and a stronger dollar. External geopolitical tensions and hawkish US monetary signals remained potential pressures. Domestic indicators showed strong economic activity, while the current account deficit widened because of a higher merchandise trade deficit. Foreign portfolio inflows continued despite investors remaining net sellers during the year.
September 1, 2026
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Current account deficit widened as merchandise trade deficit increased, notwithstanding stronger services receipts, remittances, and foreign direct investment inflows.
India's current account deficit widened in the first quarter of 2026-27 as the merchandise trade deficit increased. Higher net services receipts, increased personal transfer receipts and lower net primary-income outgo partly supported the external account. Financial-account movements included higher net foreign direct investment inflows, a shift in foreign portfolio investment from net inflow to net outflow, and lower net inflows through non-resident deposits and external commercial borrowings. Foreign exchange reserves declined on a balance-of-payments basis during the quarter.
September 1, 2026
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Technology-enabled tax compliance and enforcement supported higher commercial tax collections, while GST rate reductions moderated sectoral net GST growth.
Technology-enabled tax administration supported commercial tax and net GST collection growth in Andhra Pradesh during August 2026 and the cumulative period through August. AI-based analytics and scrutiny, IGST reversals, UPI-based enforcement, registration verification, Aadhaar authentication, digital payment enablement, predictive analytics and data sharing strengthened compliance, scrutiny and revenue mobilisation. Petroleum VAT, professional tax, liquor VAT and IGST settlement also increased, while GST rate reductions moderated net GST performance in specified product sectors.

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Press Note : Clarification regarding the Statistical reforms and the existing GDP series

June 10, 2019

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  1. Reports have appeared in a section of media regarding the statistical reforms being undertaken in the Ministry of Statistics and Programme Implementation (MOSPI) and on the existing GDP series.
  1. In so far as the statistical reforms are concerned, it is important to note that system reforms are an ongoing process and are necessary for ensuring responsiveness to the changing needs of society. Over a period of time, there have been increasing demands on the statistical system for production of relevant and quality statistics. The Ministry has been accommodating these demands by optimising the available resources and use of technology. As in any system, the advent of technology necessitates reforms in statistical processes and products with an aim to synergise the existing resources so that the system remains responsive. The recent step for the merger of CSO and NSSO was aimed at leveraging the strengths of the two organisations so that it can meet the increasing demands.
  1. In 2018, the Cabinet had approved several new activities including the conduct of new surveys on the Annual Survey of Services Sector (for a more elaborate coverage of the services sector), Annual Survey of Unincorporated Enterprises (to get a better understanding of these enterprises, primarily in the informal sector), Time Use Survey (for assessing the time disposition of household members) and the Economic Census of all establishments. All these activities require significant financial and human resources which take time to become available. The immediate requirement of manpower can be addressed through a judicious mix of redeployment of existing manpower resources and outsourcing to professional manpower agencies. The outsourced field staff has also to be rigorously trained before deployment and thereafter effectively monitored. This model is being implemented in the Economic Census and other NSS Surveys. In the last Economic Census conducted in 2013, the State Governments were requested to arrange for staff to conduct the field work, which led to delays in finalising and releasing the results. In the ongoing Economic Census, 2019, MoSPI has partnered with the Common Service Centres (CSC) SPV to undertake the field work, and the officers of National Sample Survey (NSS), State Governments and line Ministries will be involved in close monitoring and supervision of the field work to ensure data quality and good coverage. This is the first time that the rigours of monitoring and supervision of field work exercised in NSS will be leveraged for the Economic Census so that results of better quality would be available for creation of a National Statistical Business Register. This process has been catalysed by the establishment of a unified National Statistical Office (NSO).
  1. In the various media reports regarding the restructuring, what has been missed out, in particular, is the fact that MoSPI is giving an increased focus on Data Quality and Assurance by repositioning the existing data processing personnel. The traditional data processing activity required transformation in light of the adoption of Computer Assisted Personal Interviewing (CAPI) and e-schedule technology in NSS. The latter facilitates better and more reliable data capture with in-built validation checks. These changes require re-skilling of the existing data processing personnel so that they can perform the data quality assurance functions. An emphasis is also being given to more use of administrative data sets that have evolved or are evolving, after ensuring their quality and usability in the statistical system.
  1. In so far as the credibility of data is concerned, the Government of India adopted the United Nations Fundamental Principles of Official Statistics (FPOS) in May, 2016. The Government is thus committed to ensure and secure the autonomy and independence of the statistical system to produce appropriate and reliable data by adhering to internationally agreed professional and scientific standards. In the Indian context, there have been a series of expert committees constituted in the past, which made several recommendations for improving the functioning of the national statistical system. The reforms being undertaken in MoSPI are in consonance with these principles as also the various recommendations of the National Statistical Commission (NSC). In fact, the Ministry had drafted the National Policy on Official Statistics (NPOS) and placed the same in the public domain. Based on the comments received, this policy is being redrafted.
  1. The order issued on 23rd May, 2019 aimed at a unified NSO, as prevailing in most other countries, that produces reliable and quality statistical products by leveraging the synergies available within MoSPI. It may also be mentioned that the Government had merged the post of Chief Statistician of India (CSI) and Secretary, MoSPI to head the NSO and order of 23 May, 2019 on restructuring has since been accordingly clarified.
  1. The Chairman and Members of the NSC are senior functionaries and are entrusted with the responsibility of improving the national statistical system,  and the Ministry duly takes into consideration their recommendations and inputs. The status, role and functions of NSC continue as earlier (Press Release of 31 May, 2019 refers). Efforts are also on to evolve a legislative framework under which the NSC may function with independence and give holistic guidance for improving the national statistical system encompassing MoSPI, the line Ministries and the State Governments.
  1. In so far as the GDP series are concerned, the Ministry had issued several clarifications, which need to be duly considered for an informed and  balanced view to emerge. In fact, the detailed methodology and approach for the GDP series (new series and back series), are available in the public domain. The detailed Press Release of 30th May, 2019 explained the coverage of the MCA corporate data in the GDP estimates vis-à-vis the NSS (74th Round) Technical Report on services sector with a view to address issues raised in the media on the usage of MCA data. It was explained that the NSS had been conducted this survey to understand the challenges likely to emerge when the Annual Survey of Services Sector is undertaken. The findings were analysed at the macro level and it was noted that majority of the companies had filed their statutory on-line returns with MCA and were not missed out in the GDP estimation. The issue of misclassification was also explained in that the Corporate Identification Number (CIN) has the National Industrial Classification Code embedded which is usually not updated even if a company changes its activity declared at the time of its registration. Before MoSPI undertakes the Annual Survey on Services Sector, these limitations will be duly factored and incorporated in the survey design methodology. These findings will also be used when the GDP series is revised to a new base.
  1. It needs to be appreciated that GDP estimation is a complex exercise and is undertaken in an ecosystem of incomplete data. This necessitates complex simulations and statistical assumptions before a methodological approach is finalised in consultation with subject experts. In fact, many of the critics of the current GDP series were involved in the various Committees that deliberated and finalised the 2011-12base revision methodology. It may be noted that the decisions of these Committees were unanimous and collective, and were arrived at after taking into consideration the data availability and methodological aspects before being recommended as the most appropriate approach. The Ministry has conventionally involved a wide range of professional experts in its deliberations and the national statistical system has immensely benefitted from their contributions. In addition, India has subscribed to the Special Data Dissemination Standard (SDDS) of the International Monetary Fund (IMF) and an Advance Release Calendar is decided for release of estimates. The IMF had raised certain issues on the usage of double deflation in the Indian GDP series and India has informed IMF that the existing data availability does not permit its application in India at present.  In fact, the media reports, while citing the changes in GDP growth likely to result from adopting the double deflation, realise the varying outcomes obtained by different authors from their own distinct assumptions. It was because of such views that the Advisory Committee on National Accounts Statistics (ACNAS) had not agreed to the use of the double deflation at present stage. Moreover, double deflation is used in only a few countries that have a Producers Price Index (PPI) to deflate the inputs. MoSPI is working closely with Ministry of Commerce and Industry to have the methodology for the PPI finalised.
  1. Further, revision in GDP estimates occur when data coverage from administrative sources improves over time and these improvement get well documented. Consequently, the initial estimates of GDP tend to be conservative. To improve this, it would require concomitant changes in the sectoral data flows and associated regulatory framework in the data source agencies to facilitate use of more macro modelling techniques. The Ministry is also proposing to establish a National Data Warehouse on Official Statistics, where technology will be leveraged for using Big Data Analytical tools for further improving the quality of macro-economic aggregates. As all these reforms are an ongoing process, it is important that the readers and users understand and appreciate the limitations of data and the challenges in estimation. While undertaking these reforms, it is important to realise that newer data sets and survey results will invariably be used and it would be incorrect to comment that old processes were better than the new. The reforms being undertaken in MoSPI will lead to better data sets and better estimates in future, and will be duly deliberated on by the ACNAS during the Base Year revision.
  1. This is also to clarify on the apparent misconception that in the current GDP series the informal manufacturing sector grew at the same rate as the formal manufacturing sector measured by the Annual Survey of Industries (ASI). In fact, it is only the growth of appropriate type of enterprises in ASI (i.e. proprietary, partnership, HUF) that is used to move the bench mark estimates of the informal/unorganized manufacturing segment, and not the growth of the entire ASI. Moreover, while using the Paid-Up-Capital based scaling up of sample results, MOSPI now uses the much larger MCA database (about 7 lakh active corporates) whereas the results from a sample of only 2,500 corporates analysed by RBI were used in the earlier GDP series.
  1. The national statistical system works in an ecosystem of independence and autonomy in its statistical processes. Allusions to any external influence are altogether unwarranted. It has been the endeavour of the Ministry to continue educating users on the various statistical products and processes, which are essentially public goods. In this direction, the Ministry is now making available all primary data collected to the public free of cost. In so far as sharing the external secondary and administrative datasets are concerned, these are governed by various legislations and the researchers may approach the concerned custodian source agencies for more granular data.

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