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    Curis Lifesciences Charts a New Growth Path with Uninova, Export Markets and Branded Pharma Expansion
    IBC @ Crossroads: A Decade of Evolution, The Road Ahead
    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will embark on official visit to Canada and USA from 25th August to 2nd Septemb...
    UPI Completes 10 Years of Digital Payments Revolution- Globally Recognised as World’s Largest Real‑Time Payment System
    PROVISIONAL ESTIMATES OF SERVICE PRODUCER PRICE INDICES (BASE YEAR 2022-23) FOR Q1 OF FY 2026-27 AND FINAL INDICES FOR Q4 OF FY 2025-26.
    Minister of State for Commerce and Industry and Electronics & Information Technology Shri Jitin Prasada on Official Visit to Morocco.
    Rupee falls 3 paise to close at 95.74 against US dollar
    HSBC INDIA OPENS NEW BRANCH IN NASHIK TO SUPPORT WEALTH EXPANSION
    Commerce and Industry Minister Shri Piyush Goyal Leads A 200-Member Business Delegation to Japan.
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    Bank unions threaten nationwide strike on Sep 11 to press for 5-day banking, other demands
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    Rupee rises 7 paise to 95.64 against US dollar in early trade
    Woman passenger from Sharjah held with undeclared gold chain at Ahmedabad airport
    Delhi: Retired railway employee put under 'digital arrest', duped of Rs 30 lakh; one held
    CPI(M) accuses ED of ‘politically targeting’ Pinarayi Vijayan in CMRL case
    ED arrests ex-Andhra minister K Nageswara Rao in liquor transport 'scam'
    Orris Infrastructure MD Amit Gupta arrested in cheating case
    In a knot: Surat weaving units take voluntary two-day holiday as yarn prices shoot up
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August 24, 2026
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Diversified pharmaceutical growth combines branded portfolio expansion, contract manufacturing, merchant exports, and regulatory registrations for international market development.
Curis Lifesciences Limited plans a diversified pharmaceutical strategy spanning domestic branded products, contract manufacturing and international market development. Its majority acquisition of Uninova Lifesciences is intended to strengthen own-brand marketing, distribution and portfolio expansion, including injectable products through third-party manufacturing. International initiatives include merchant exports in Kenya and a Nigerian joint venture pursuing own-brand regulatory registrations alongside contract-manufacturing and export opportunities. Commercial development in Nigeria remains contingent on relevant licences and purchase orders, while projections are subject to regulatory, market and other business factors.
August 24, 2026
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Insolvency framework reform prioritises efficient resolution, value maximisation, stakeholder coordination, institutional strengthening and technology-enabled asset recovery.
Insolvency and Bankruptcy Code, 2016, entered its tenth year amid deliberations on legislative amendments, resolution timelines, stakeholder interests and value maximisation. Key areas included resolution plans and tax implications, liquidation processes, recent judicial developments, stakeholder coordination, and the roles of insolvency professionals, regulators, banking institutions and adjudicatory processes. Technological innovation, including artificial intelligence for asset tracing and recovery, alongside regulatory strengthening, capacity building and stakeholder collaboration, was emphasised for the future development of the insolvency ecosystem.
August 24, 2026
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Bilateral economic and financial cooperation will advance through investment dialogues, business engagement, financial-sector partnerships, and global economic discussions.
Official visits to Canada and the United States are scheduled to strengthen bilateral economic and financial partnerships, deepen investment linkages, and advance cooperation on global economic priorities. Engagements include an Economic and Financial Dialogue, investment and business roundtables, corporate meetings, and discussions on financial-sector cooperation, technology, innovation, critical minerals, resilient supply chains, and a Comprehensive Economic Partnership Agreement. Participation in the G20 Finance Ministers and Central Bank Governors Meeting will address global economic growth, stability, and international financial cooperation.
August 24, 2026
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Interoperable real-time payments enable inclusive retail transactions, bank participation, and cross-border digital payment expansion through UPI.
Unified Payments Interface (UPI) operates as an interoperable, real-time digital payments platform for peer-to-peer and person-to-merchant transactions. Its network includes varied banking institutions acting as remitter and beneficiary payment service providers, with performance monitoring across participants. Person-to-merchant payments drive transaction volume through routine small-ticket retail use, while person-to-person payments represent a larger share of transaction value. UPI also supports cross-border digital payments, with future growth linked to technological advancement, broader adoption, policy support, and financial inclusion.
August 24, 2026
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Service Producer Price Indices track quarterly price movements across financial, transport, telecom and insurance services using sub-service weights.
Service Producer Price Indices based on 2022-23 set out provisional first-quarter estimates for FY 2026-27 and final fourth-quarter estimates for FY 2025-26 across financial, insurance, telecom, railway and air-passenger services. Latest quarterly data show negative year-on-year inflation for securities transaction and banking services, while banking service contribution, pension-fund management, insurance, telecom and railway services record positive inflation. Aggregate weights are not assigned because the covered services do not represent the entire service sector; sub-service weights are used to derive service-level PPIs.
August 24, 2026
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Food safety cooperation supports imported-food quality information exchange and technical collaboration within broader bilateral economic and trade engagement.
India-Morocco economic cooperation is being advanced through discussions on trade diversification, market access, investment, industrial cooperation, customs, agriculture, food safety, energy, digital transformation and logistics. A proposed food safety Memorandum of Understanding would support exchanges on imported-food safety and quality, testing laboratories, analytical methods, import procedures, quality control, sampling, testing, packaging and labelling. Proposed cultural cooperation would promote professional exchanges, heritage conservation and institutional linkages.
August 24, 2026
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Foreign-exchange market conditions pressured the rupee as dollar strength, crude concerns and geopolitical uncertainty shaped narrow USD/INR trading.
Foreign-exchange market conditions led the rupee to close marginally lower against the US dollar after reversing initial gains. The USD/INR pair traded within a narrow range amid a stronger dollar index, weak domestic equity markets, importer demand, crude-oil concerns and geopolitical uncertainty. Market commentary indicated a slight negative bias for the rupee, although possible US-dollar weakness could provide support at lower levels. India's foreign-exchange reserves increased during the referenced reporting week.
August 24, 2026
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Branch expansion for wealth and cross-border banking services targets emerging commercial centres and affluent customer segments across India.
HSBC India's branch expansion is directed at extending wealth, international banking, and corporate banking services to affluent, high-net-worth, ultra-high-net-worth, and non-resident Indian customers in emerging commercial centres. The Nashik opening forms part of a broader branch-expansion programme undertaken after Reserve Bank of India approval to establish additional branches in key cities. The programme is intended to expand delivery of banking and financial services, including support for cross-border wealth management, overseas investment by Indian companies, and foreign investment into India.
August 24, 2026
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Bilateral trade and investment cooperation advances through business engagement in high-technology manufacturing, clean energy, innovation and industrial collaboration.
India's commerce and industry engagement with Japan is structured around a business delegation visit to deepen bilateral trade, investment, technology and industrial collaboration. Sector-focused discussions cover semiconductors, artificial intelligence, start-ups, automotive manufacturing, steel, electronics, industrial and consumer markets. Business roadshows and investor interactions are directed at presenting opportunities in India's manufacturing, clean-energy and consumer sectors, while advancing cooperation in high-technology manufacturing and next-generation industries.
August 24, 2026
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Inter-state heroin trafficking enforcement uncovered concealed narcotics in transport vehicles, triggering arrests, confiscation, and continuing supply-chain investigations.
Operation Black Hawk targeted an alleged inter-state heroin trafficking network moving crude heroin from the North-East region towards Uttar Pradesh. Intelligence-led vehicle tracking and highway interceptions resulted in the seizure of over 18.6 kg of crude heroin and the arrest of three suspected network members under the Narcotic Drugs and Psychotropic Substances Act, 1985. The narcotics were detected in specially fabricated concealed compartments within a passenger vehicle fuel tank and a heavy commercial vehicle body frame. Both vehicles and the contraband were confiscated, while financial and logistical investigations continue into suppliers and distribution channels.
August 24, 2026
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Five-day banking and uniform performance incentives drive proposed bank union action over unresolved pension and employment demands.
Banking labour relations are affected by proposed nationwide industrial action over five-day banking, performance-linked incentives, and pension-related demands. Five-day banking remains pending despite a bipartite arrangement for extended weekday hours. Unions dispute an incentive scheme that differentiates awards by seniority and individual performance, contending that it departs from bank-level performance linkage and uniformity across cadres. They also allege that implementation during pending conciliation breaches a status quo obligation, while pension revision, uniform dearness allowance, and a pension-scheme switch option remain unresolved.
August 24, 2026
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Free trade agreement strategy expands preferential market access and supports India's integration into global value chains and investment partnerships.
India's free trade agreement strategy seeks to expand preferential market access and integrate the country into global value chains as a trusted trading partner. Negotiations with additional country groups and individual nations are intended to extend agreement coverage to a substantial share of global trade. Investment opportunities are identified in data centres, manufacturing and artificial intelligence, alongside an objective of developing more balanced trade relations between India and Japan.
August 24, 2026
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Foreign exchange market conditions supported rupee appreciation, but crude prices, importer demand and geopolitical sanctions concerns limited gains.
Foreign exchange market conditions supported a modest early appreciation of the rupee against the US dollar due to relative dollar softness. The gain was limited by elevated crude oil prices, importer demand for dollars, and caution over anticipated sanctions affecting Iranian oil trade, banking networks and shipping routes. Currency markets remained sensitive to geopolitical uncertainty and possible wider trade effects.
August 23, 2026
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Undeclared gold importation led to customs interception, seizure, arrest and continuing investigation after concealment inside passenger clothing.
Customs enforcement against undeclared gold importation involved interception of a passenger arriving from Sharjah at Ahmedabad airport following passenger profiling. A gold chain concealed inside clothing was recovered after it was not declared for customs purposes. The chain was seized and the passenger was arrested under the Customs Act, 1962, before being released on bail, with further investigation continuing.
August 23, 2026
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Digital arrest cyber fraud used impersonation, forged notices and coercive video calls to obtain transfers through mule accounts.
Digital arrest cyber fraud allegedly used impersonation of law-enforcement and central banking officials, fabricated notices, threats of arrest and continuous video communications to coerce a retired railway employee into disclosing financial details and transferring funds for purported verification. The alleged proceeds were routed through mule and shell accounts. Banking records, KYC details, digital evidence and transaction trails allegedly connected a recipient account with suspicious transactions and multiple cyber-fraud cases; part of the cheated amount was recovered or refunded.
August 23, 2026
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Political targeting allegations challenge money-laundering enforcement actions, searches, questioning, and public disclosures in the CMRL investigation.
CPI(M) alleges that enforcement action under the Prevention of Money Laundering Act in the CMRL matter is politically motivated targeting of Pinarayi Vijayan, family members and party associates. It contends that searches, questioning and public communications during the investigation were used to create suspicion without incriminating evidence, and characterises references to hawala as a new investigative narrative. The party also alleges selective anti-money-laundering enforcement against opposition leaders and states that the company will address the CMRL-related matter.
August 23, 2026
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Money-laundering investigation into alleged liquor transport irregularities results in arrests connected with claimed loss to the government exchequer.
Money-laundering proceedings concerning alleged financial irregularities in liquor transport led to the arrest of former Andhra Pradesh minister Karumuri Nageswara Rao under the Prevention of Money Laundering Act. The inquiry concerns alleged wrongful loss to the government exchequer arising from liquor-transport operations. Investigative measures included raids and the arrest of Rao's son, along with arrests of a former state beverages corporation managing director and the person described as the principal accused.
August 23, 2026
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Alleged LLP record forgery raises cheating, breach of trust and conspiracy concerns over unauthorised partnership interest changes.
Alleged forgery, cheating, criminal breach of trust and conspiracy concern purported unauthorised changes to LLP statutory records filed with the Registrar of Companies. The allegations include use of false documents to remove a nominated partner, substitute another person as partner and transfer a partner's interest in the LLP. The matter also draws attention to separate land-collaboration allegations and delayed possession claims by homebuyers in a halted housing project.
August 23, 2026
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Voluntary production curtailment addresses polyester yarn cost volatility as weaving units seek customs-duty relief on inputs.
Voluntary production curtailment by weaving units is being adopted in response to increased polyester yarn and related input costs. Units may reduce shifts or observe periodic holidays according to individual commercial feasibility to limit yarn consumption until prices and fabric-market conditions stabilise. Industry representatives allege that yarn-price increases exceed corresponding input-cost movements and seek examination of possible artificial pricing, along with customs-duty relief on yarn and relevant inputs.
August 22, 2026
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Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.

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News and Press Release

Sagarmala Programme

March 12, 2020

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The Sagarmala programme is the flagship programme of the Ministry of Shipping to promote port-led development in the country through harnessing India’s 7,500 km long coastline, 14,500 km of potentially navigable waterways and strategic location on key international maritime trade routes. The main vision of the Sagarmala Programme is to reduce logistics cost for EXIM and domestic trade with minimal infrastructure investment.

Sagarmala Programme was approved by the Union Cabinet in March 2015 and a National Perspective Plan was prepared by the Ministry of Shipping which was released on 14th April 2016. As of now, 500 projects have been identified at an estimated infrastructure investment of ₹ 3.55 Lac Crore across all the pillars. Out of these, 143 projects (worth ₹ 0.88 Lac Crore) have been completed, and 190 projects (worth ₹ 2.12 Lac Crore) are already under implementation. Remaining set of 167 projects are under various stages of development and expected completion are well within 2035.

 Implementation of these projects are being done by the Central Line Ministries, State Governments / Maritime Boards and SPVs preferably through the private sector and through the Public Private Participation (PPP) wherever feasible. Project theme-wise summary of projects under Sagarmala is given in the Table below:

Summary of projects under Sagarmala

S.No.

Project Theme

Total

Completed

Under Implementation

#

Project Cost (Rs. Cr)

#

Project Cost (Rs. Cr)

#

Project Cost (Rs. Cr)

1

Port Modernization

206

78,611

81

24,113

59

24,288

2

Connectivity Enhancement

201

1,28,786

38

9,416

88

91,157

3

Port Led Industrialization

34

1,42,457

8

45,300

23

96,046

4

Coastal Community Development

59

5,300

16

1,403

20

954

Total

500

3,55,154

143

80,233

190

2,12,445

Ministry of Shipping has taken numerous initiatives for unlocking potential of waterways which is enclosed at Annex-I

Annex-I

Initiatives under Sagarmala Programme to unlock the potential of Waterways

a. Ministry of Shipping has notified licensing relaxation to foreign flag vessels for carrying transshipment containers, empty containers, fertilizers and agricultural, fisheries, animal husbandry and horticultural commodities on coastal routes.

b. The licensing Relaxation for coastal shipping to special vessels such as Ro-Ro, Hybrid Ro-Ro, Ro Pure Car Carriers, Pure Car and Truck Carriers, LNG Vessels and Over-dimensional or Project Cargo is extended till 2021.

c. Under coastal berth scheme, financial assistance up-to 50% of total project cost or maximum funding limit can be provided to the implementing agency for creation of infrastructure to promote movement of cargo/passengers by sea/National Waterways.

d. A study has been conducted in association with Asian Development Bank to prepare a perspective plan for coastal shipping  and an action plan has been formulated under the topics of policy interventions, infrastructure interventions and process interventions is being implemented by the Ministry of Shipping.

e. Minimum 40% discount is offered by major ports on vessel and cargo related charges to coastal vessels.

f. To promote inland water transport (IWT) in the country, 111 (including 5 existing and 106 new) National Waterways (NWs) have been declared under the National Waterways Act, 2016.

g. NW-I (Ganga-Bhagirathi- Hooghly river system from Allahabad to Haldia) in Uttar Pradesh, Bihar, Jharkhand & West Bengal; NW-2 (River Brahmaputra from Dhubri to Sadiya) in Assam; NW-3( West Coast Canal from Kottapuram to Kollam along with Udyogmandal and Champakara Canals) in Kerala, have already been developed with fairway navigational aids, jetties and terminals with mechanised equipment handling facilities for loading of cargo. These water ways are operational and vessels are plying on them. In addition, NW-10 (river Amba), NW-68(river Mandovi), NW-73 (river Narmada), NW-83(Rajpuri Creek), NW-85 (Revadanda Creek- Kundalikariver system), NW-91 (Shastri river- Jaigad creek system), NW-97 (Sunderbans Waterways), NW-100 (river Tapti) and NW-111(river Zuari) are operational.

h. Feasibilities studies have been completed by the Inland Waterways Authority of India (IWAI) for 106 new NWs and based on the outcome of feasibility studies and Detailed Project Reports (DPRs), 20 new NWs were found feasible for development of shipping and navigation in addition to 5 existing NWs, on which development activities are already ongoing.

i. To augment the navigational capacity on the Haldia-Varanasi stretch on NW-1(river Ganga), the Ministry of Shipping / IWAI is implementing the Jal Marg Vikas Project (JMVP) at an estimated cost of ₹ 5369.18 crore. Under JMVP construction of multimodal terminals at Varanasi, Sahibganj&Haldia, Ro-Ro terminals, fairway development navigational lock at Farakka, channel marking systems etc., are being set up.

j. Fairway development work in Vijayawada-Muktyala stretch of river Krishna in Andhra Pradesh (part of NW-4) has been completed. Fabrication of four floating pontoons and land acquisition for fixed terminals(4 nos.) at Ibrahimpatnam, Harischandrapuram, Muktyala and Madipadu is underway.

This information was given by Minister of State (Independent Charge) for Shipping Shri Mansukh Mandaviya in a written reply to the Loksabha today. 

YB/AP

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