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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.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
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Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
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Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
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Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
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Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
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Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
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Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
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Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.

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SHARP FOCUS ON HEALTH & WELLBEING IN INDIA’S 2021-22 BUDGET REFLECTING DEEP IMPRINT OF GLOBAL PANDEMIC

February 1, 2021

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SHARP FOCUS ON HEALTH & WELLBEING IN INDIA’S 2021-22 BUDGET REFLECTING DEEP IMPRINT OF GLOBAL PANDEMIC

HEALTH & WELLBEING ONE OF THE 6 CRUCIAL PILLARS OF AATMA NIRBHAR BHARAT

STEEP INCREASE OF 137 PERCENTAGE IN BUDGET OUTLAY OVER BE 2020-21

RS. 2,23,846 CRORE ALLOCATED TO HEALTH SECTOR


CENTRALLY SPONSORED SCHEME, PM AATMA NIRBHAR SWASTH BHARAT YOJANA ANNOUNCED WITH AN OUTLAY OF ₹ 64,180 CRORE OVER 6 YEARS

₹ 35,000 CRORE ALLOCATED FOR COVID-19 VACCINE

The Union Budget 2021-22 presented in Parliament today by the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman clearly reflected the deep imprint the global pandemic of COVID-19 has left on the country’s public health landscape. Starting her Budget speech with narration of the country’s fight against COVID-19, and the various timely, graded and proactive measures taken by the Union Government, the Union Budget presented by the Finance Minister strongly positioned Health & Wellbeing as one of the 6 crucial pillars of Aatma Nirbhar Bharat. Healthy India, along with other sectors “will further strengthen the sankalp of Nation First”, she stated while presenting the Budget.

Health & Wellbeing have formed the topmost priority of the Union Government during the ongoing COVID health crisis. It is the foremost of the six crucial pillars that form foundation of the Union Budget.

Underscoring the significant importance of health and wellbeing for the growth and development of the country, the Budget allocation for the same has been increased to ₹ 2,23,846 crore in BE 2021-22 as against this year’s BE of ₹ 94,452 crore. This manifests into a sharp increase of 137 percentage.  

Additionally, the Budget has brought a holistic approach to health as it has focused on strengthening three areas: Preventive, Curative, and Wellbeing.

The Finance Minister stated that while the investment on Health Infrastructure in this Budget has increased substantially, “progressively, as institutions absorb more, we shall commit more”.

The details of the expenditure in the health and wellbeing sector are as below:

Health and Wellbeing – Expenditure (in Rs.crore)

Ministry/Department

Actuals 2019-20

BE 2020-21

BE 2021-22

D/o Health & Family Welfare

62,397

65,012

71,269

D/o Health Research

1,934

2,100

2,663

M/o AYUSH

1,784

2,122

2,970

CoVID related Special Provisions

 

 

 

Vaccination

 

 

35,000

D/o Drinking Water & Sanitation

18,264

21,518

60,030

Nutrition

1880

3,700

2,700

FC Grants for Water and Sanitation

 

 

36,022

FC Grants for Health

 

 

13,192

TOTAL

86,259

94,452

2,23,846

PM Aatma Nirbhar Swasth Bharat Yojana

Acknowledging the importance of robust health systems as a significant pillar of sustained progress in the health sector, a new centrally sponsored scheme, PM Aatma Nirbhar Swasth Bharat Yojana, will be launched with an outlay of about ₹ 64,180 crore over 6 years. This will develop capacities of primary, secondary, and tertiary care Health Systems, strengthen existing national institutions, and create new institutions, to cater to detection and cure of new and emerging diseases. This will be in addition to the National Health Mission.

1_Health Sector.jpg

The main interventions under the Scheme are:

  • Support for 17,788 rural and 11,024 urban Health and Wellness Centers
  • Setting up integrated public health labs in all districts and 3382 block public health units in 11 states;
  • Establishing critical care hospital blocks in 602 districts and 12 central institutions;
  • Strengthening of the National Centre for Disease Control (NCDC), its 5 regional branches and 20 metropolitan health surveillance units;
  • Expansion of the Integrated Health Information Portal to all States/UTs to connect all public health labs;
  • Operationalisation of 17 new Public Health Units and strengthening of 33 existing Public Health Units at Points of Entry, that is at 32 Airports, 11 Seaports and 7 land crossings;
  • Setting up of 15 Health Emergency Operation Centers and 2 mobile hospitals; and
  • Setting up of a national institution for One Health, a Regional Research Platform for WHO South East Asia Region, 9 Bio-Safety Level III laboratories and 4 regional National Institutes for Virology.

1_Health Sector 1.jpg

Mission Poshan 2.0

Nutrition has been highlighted as an integral component of the country’s health and wellbeing. To strengthen nutritional content, delivery, outreach, and outcome, the Union Budget has proposed merger of the Supplementary Nutrition Programme and the Poshan Abhiyan. These will form the umbrella of Mission Poshan 2.0. An intensified strategy to improve nutritional outcomes across 112 Aspirational Districts has been proposed.

Vaccines

Vaccines Rollout.jpg

 

Development of COVID-19 vaccines found a pride of place in the Union Budget. The Union Finance Minister stated that the “Honourable Prime Minister launched the vaccination drive by crediting and thanking our scientists. We are ever grateful for the strength and rigour of their efforts”. She stated that India has two vaccines available and has begun medically safeguarding not only her own citizens against COVID-19, but also those of 100 or more countries. “It is added comfort to know that two or more vaccines are also expected soon”, she added.

₹ 35,000 crore have been allocated for COVID-19 vaccine in BE 2021-22. “I am committed to provide further funds if required”, the Finance Minister further said.

In addition, the Pneumococcal Vaccine, a ‘Made in India’ product, which is presently limited to only 5 states, will be rolled out across the country. This will avert more than 50,000 child deaths annually, the Finance Minister informed during the Budget speech.

National Nursing and Midwifery Commission Bill

The Finance Minister pointed out that the National Commission for Allied Healthcare Professionals Bill has been introduced in Parliament with a view to ensuring transparent and efficient regulation of the 56 allied healthcare professions. She announced that The National Nursing and Midwifery Commission Bill will be introduced by the government for passing to bring about transparency, efficiency and governance reforms in the nursing profession.

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