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August 17, 2026
Show AI Summary
Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
Show AI Summary
SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
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August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
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August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
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August 14, 2026
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August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
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August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.

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18 Proposals of Foreign Direct Investment Amounting to 2126.20 Crore Approved

November 25, 2011

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Press Information Bureau
Government of India
Ministry of Finance

25-November-2011 19:01 IST

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore approximately. 

In addition, one proposal viz (i) M/s Unitech Wireless (TN) Pvt. Ltd., amounting to ` 8250 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs.

Following are the Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 15.11.2011   

Following 18 (Eighteen) proposals have been approved.

Sl.No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in crore)

CORPORATE AFFAIRS

1

M/s Amar Remedies Ltd., Mumbai

To issue secured redeemable non-convertible debentures along with warrants to undertake the business of manufacturing and marketing of personal care and OTC products.

170.00

ECONOMIC AFFAIRS

2

M/s VNR Infrastructures Limited, Hyderabad

Ex-post-facto approval for transfer of shares by way of share swap.  The company is engaged in the business of infrastructure contracting activities.

No Fresh Inflow

3

M/s NJS Engineers India Pvt. Ltd., Pune

Ex-post-facto approval for transfer of shares held by NRI on non-repatriation basis to a person resident outside India on a repatriation basis.  The company is engaged in the business of Construction Development projects, including housing, commercial premises, resorts, educational institutions.

0.01

4

M/s Oxygen Bio Research Pvt. Ltd.

Ex-post-facto approval for transfer of non-repatriable shares held by the NRIs to a foreign company.  The company is engaged in medical research and specializing in drug discovery to find cures in various ailments such as cancer, heart diseases, etc.

Nil

5

M/s Lanco Group Ltd.

Transfer of shares under the scheme of demerger.  The company is engaged in the business of supplying products and material on turnkey basis and project management consultancy services with respect to various infrastructure projects. In addition, the Indian company has downstream investments in various companies engaged in infrastructure related sectors such as power generation, coal mining for captive consumption, etc.

Nil

FINANCIAL SERVICES

6

M/s Grameen Financial Services Pvt. Ltd., Bangalore

Ex-post-facto approval for issuance of equity shares to the investor in lieu of dividend payout to the investor to carry out the business of providing credit/financing.

2.59

INFORMATION TECHNOLOGY

7

M/s SDG Software India Pvt. Ltd., Delhi

Ex-post facto approval for the allotment of partly paid up shares which were later made fully paid up within two month.  The company is engaged in the business of Software Development and Support Services.

3.00

STEEL

8

M/s Stewart and Lloyds of India Ltd., Kolkata

To issue warrants to carry out the business of manufacturing of Fabricated Structural Products of Iron ore and Steel and Construction and maintenance of Power Plants.

0.37

9

M/s Thomas Lipinski, Mr. Enrico Borgwardt, Germany and Mr. Shekhar Khanderao Bhagwat, Mumbai

To set up a LLP with foreign equity of 98 per cent to undertake the business of manufacturing of fabricated structural metal products.

0.98

REVENUE

10

M/s DFASS TRGB LLC, USA

Induction of foreign equity in an Indian company to carry out the business of setting up, running and maintenance of duty free shops & outlets at airport and other places outside the customs territory of India or any other place in India as may be permitted.

12.5

11

M/s In Flight Services Worldwide LLC, USA

Induction of foreign equity in an Indian company to carry out the business of retail sale of duty free goods on international flights.

0.50

COMMERCE

12

M/s Multi Commodity Exchange of India Ltd.

Sale of equity shares through an Initial Public Offering to the prospective purchasers which may be (i) resident Indian nationals, and (ii) SEBI registered FII’s.  The company is engaged in the business of trading in commodities.

 

INFORMATION & BROADCASTING

13

M/s NDTV Lifestyle Ltd.

Increase in foreign equity upto 100 percent.  The company is engaged in the media industry for up-linking, producing, distributing and broadcasting non-news and non- current affairs TV channels.

Nil

14

M/s Dish TV India Ltd.

To increase foreign equity to produce telecommunication equipment and provide management and marketing of ‘agrani’ services, i.e. in the area of Mobile Satellite Communications.

980.00

CONSUMER AFFAIRS

15

M/s Jindal Agro Processing Pvt. Ltd., Gujarat

Transfer of shares by way of share swap.  The company is engaged in the business of manufacture and export of ready to eat food.

Nil

TELECOMMUNICATIONS

16

M/s Sprint International Holding Inc., Overland Park K.S

Induction of foreign equity into an Indian company to provide wireline-based national long distance, international long distance and Internet services as well as advanced managed network services to companies operating in India.

6.25

INFORMATION & BROADCASTING

17

M/s Cyquator Media Services Pvt. Ltd., Mumbai

Scheme of merger relating to company engaged in the business of providing back-end information technology services and sale of advertisement space in various modes of media.

Nil

ECONOMIC AFFAIRS

18

M/s Ventureast Life Fund III LLC, Mauritius

Induction of foreign equity in a trust.

950.00

 

 The following 16 (Sixteen) proposals have been deferred:

Sl.No

Name of the applicant

Particulars of the proposal

1

M/s Unifior Vegetables LLP, Mumbai

Induction of foreign equity in LLP to carry out the business of Food Processing.

2

M/s Jalgaon Investments Pvt. Ltd., Mumbai

Ex-post-facto approval to act as an operating cum investing company.

3

M/s CLSA Singapore Holdings Pte Ltd., Singapore/ M/s CLSA Limited, Hong Kong

Induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.

4

M/s Religare Capital Markets (India) Ltd., Delhi

Induction of foreign equity in an investing company.

5

M/s Copper Beech Infrastructure Pvt. Ltd., Delhi

Repatriation of FDI.  The company is engaged in the business of educational infrastructure.

6

M/s Bossi Moda India Pvt. Ltd., Delhi

Ex-post-facto approval to issue and allot equity shares against the pre-incorporation expenses. The company is engaged in the manufacturing of leather footwear as a small scale industries.

7

M/s Surya Chambal Power Ltd., Mumbai

Ex-post-facto approval for issue of equity shares against sale of future carbon credits.  The company is engaged in the business of Generation of power from agro waste residue biomass.

8

M/s M and C Rakindo Hospitality Pvt. Ltd., Coimbatore

Ex-post-facto approval to issue and allot partly paid up shares to carry out the business of development, construction ownership, management, sale and/ or lease of hotel projects in India.

9

M/s Omnimedia SL

To amend the Clause 2 of the FC approval to undertake the business of publishing/ printing of scientific and technical magazines/ specialty journals/ periodicals in the name and style of “Energetica-India” and circulation of its digital version.

10

M/s Rahimafrooz Batteries Ltd., Bangladesh

To set up a WOS to undertake import and wholesale distribution of batteries and providing after sales services in India by a company from Bangladesh.

11

M/s Flemingo Dutyfree Shop Pvt. Ltd.

To increase foreign equity upto 100% to carry out the business of duty free shop.

12

M/s Springer India Pvt. Ltd.

To increase foreign equity upto 100% to carry out the business of publishing and re-printing of scientific, technical, medical and other no-fiction books in electronic and printed forms in any language.

13

M/s Springer Editorial Services Pvt. Ltd.

To increase foreign equity upto 100% to carry on the business of  publishing services, content, development, content management, content outsourcing, providing a comprehensive service including data conversion, editorial services, pre-press, pre-media services, digital communication services, data based management, digitization services, data based engineering

14

M/s Reed Elsevier India Pvt. Ltd.

To undertake the additional activity relating to the business of publishing and co-publishing (in and outside India), including digital publishing, printing, reprinting, adaptation, article reprinting, repackaging, translation, distribution of scientific, technical, medical, specialty and research journals/magazines/periodicals in any media including print media

15

M/s Cordia International Corp., USA

To increase shareholding from 49 percent to 74 percent to carry out the business of telecommunication and act as a services provider. Services include but are not limited to the provision of IP communication services and related services, technology related products and services, web hosting, collection and ISP services.

 The following 11 (Eleven) proposals have been rejected:

Sl.No

Name of the applicant

Particulars of the proposal

1

M/s Bharti Shipyard Ltd., Mumbai

To undertake additional activities of Defence Production.

2

M/s KSPG Automotive India Pvt. Ltd., Pune

To jointly hold with KOEL one preference share of KPL, which is not fully, compulsorily and mandatorily convertible.

3

M/s Astonfield Renewables Pvt. Ltd.

Ex-post-facto approval for the downstream investments made and to act as operating cum investing company.  The company is engaged in the business of providing consultancy services and marketing research.

4

M/s Techno Relief Overseas (India) Pvt. Ltd.

Ex-post-facto approval for NRI investment in the company.  The company is engaged in the business of trading (export and domestic wholesale) in relief materials.

5

M/s Summit Partners OGN (Luxco) S.C.A, Grand Duchy Luxembourg

Transfer of shares by way of share swap to carry out the business of providing Technical Interface/Platform between Merchants and multiple Banks.

6

M/s Munoth G’Five Telecom, Chennai

Induction of foreign equity to carry out the business of whole sale distribution of mobile phones, laptops, pads and value added service for mobile phones.

7

M/s Axiata Investments 2 (India) Ltd., Mauritius

Induction of foreign equity in an Indian company engaged in the business of Telecom Service Provider.

8

M/s Amann Sewing & Embroidery Threads Pvt. Ltd.

Extension of period of test-marketing.  The company is engaged in the business of Import of Sewing Threads and to sell the same to domestic end users (Test marketing).

9

M/s Indusind Media & Communication Ltd. (IMCL)

Conversion of CNCRPS.  The company is engaged in the business of Cable Network Distribution.

10

M/s I-Velocity India Pvt. Ltd. 

To make an amendment in clause 2 of existing FC approval to allow for undertaking additional activities.

11

M/s Befesa Infrastructure India Pvt. Ltd.

Ex-post-facto approval for capitalization of ` 10.00 lakh towards issue of 10,000 equity shares against the investment made by Befesa Agua SA Spain.

Construction, erection and installation of desalination plants.

The following 2 (Two) proposals have been withdrawn from the agenda:    

Sl.No

Name of the applicant

1

M/s Ventureast Trustee Co Pvt. Ltd. (No. FC.II: 160/2007)

2

M/s Karuturi Global Ltd., Bangalore

 The following 01 (One) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposal is above ` 1200.00 crore:   

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in Crore)

1

M/s Unitech Wireless (TN) Pvt. Ltd.

Induction of foreign equity to carry out the business of providing unified access services.

8250.00

The following 01 (One) proposal has been recommended for the consideration on file after the receipt of inputs from concerned departments:

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (in Crore)

1

M/s Vodafone Essar Ltd.

Transfer of shares from Resident to NR to carry out the activities relating to Telecommunication.

2835.00

DSM/GN

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