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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
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September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
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NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
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September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
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September 3, 2026
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September 2, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
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Customs, DGFT & SEZ

With APEDA assistance, Uttar Pradesh’s Purvanchal region emerges as new hub for India’s

January 7, 2022

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With APEDA assistance, Uttar Pradesh’s Purvanchal region emerges as new hub for India’s

Agricultural products exports through development of Varanasi Agri-Export Hub

In last six months, about 20,000 MT of agri-produce exported from Purvanchal region

Working in close collaboration with the Ministry of Commerce & Industry, the Agricultural and Processed Food Products Export Development Authority (APEDA) has taken several initiatives in making landlocked Purvanchal region as a new destination of agri-export activities through development of Varanasi Agri – Export Hub (VAEH).

APEDA has identified potential districts of Uttar Pradesh to be covered under the VAEH. The Purvanchal division covers districts of Varanasi, Mirzapur, Azamgarh, Prayagraj, Gorakhpur, Basti, Ghazipur, Jaunpur, Chandauli and Sant Ravidas Nagar.

The Varanasi region, where there are negligible agri-exports used to take place because of lack of basic infrastructure, is now abuzz with activities which has given a boost to exports. After the intervention of APEDA, Varanasi region has recorded exemplary changes in the export scenario and registered many first-of-its-kind achievements in a very short span of time.

With the active intervention of APEDA, about 20,000 Metric Tonne (MT) of agri- produce have been exported from Purvanchal region in the last six months. Out of these shipments, about 5,000 MT fresh fruits and vegetables and 15,000 MT of cereals have been exported to Vietnam, Gulf nations, Nepal and Bangladesh by all modes of transportation.

Varanasi and nearby areas witnessed an export of around 12 MT, 22 MT and 45 MT in the months of October, November, December respectively in the year 2021. Also, around 125 MT have been exported from Varanasi and nearby areas.

As Varanasi is a territory based in the plains of river Ganges, it has rich nutritional composition of soil with ample amount of fertility which leads to production of good quality agri-produce. Varanasi region also has reputed institutions of central and international level such as Indian Institute of Vegetable Research (IIVR), International Rice Research Institute (IRRI), Banaras Hindu University (BHU).

Currently, the Varanasi region has a number of exporters and exports of agricultural products is being undertaken through air route due to establishment of robust quarantine as well as custom clearance facilitation centre at Lal Bahadur Shastri International (LBSI) Airport. APEDA has organised more than 30 capacity building programmes in the entire Varanasi region followed by eight international buyer-seller meets, which has provided a platform to the exporters to market their food products in the global marketplace.

To monitor the product and production, a project of AI tech is also being considered for approval. APEDA is also planning to take member Farmer Producer Organization to different successful territories for unveiling the agri-supply chain and market linkage.

The government is also considering replicating the Varanasi model in the Gorakhpur region of Purvanchal as the geography, demography and few other parameters are common in both the places. The newly established international airport in Kushinagar may play a vital role in triggering the export. The DDU Gorakhpur University, Indian Institute of Seed Science, Mau are the institutions actively working towards promotion of agri- activities in the region.

APEDA has also approved three projects for comprehensive grain and nutritional quality profiling of non-Basmati Rice, value added products from Rice and rice-based food systems. An APEDA-funded project for integrated IT solutions to enhance Agri Export in Varanasi Region is under process.

The export of the first trial shipment of 14 MT green chilly was facilitated by APEDA from Varanasi to Dubai’s Jebel Ali Port in December 2019.

For the first time, from Varanasi 3 MT fresh vegetables was exported to London, 3 MT fresh mangoes to Dubai, 1.2 MT fresh mangoes to London, 520 MT regional rice to Qatar and 80 MT regional rice to Australia during the Covid pandemic in 2020, after APEDA’s intervention.

Meanwhile, Trisagar Farmer Producer Company Ltd, which is based in Sant Ravidas Nagar district, has started sending shipments on a daily basis to the international market after the intervention of APEDA. In another success story, Gazipur district-based Shivansh Krishak Producer Company Ltd with a base of 1,500 progressive farmers has managed to get a decent realisation for its commodities after exporting a good volume of agri-produce.

Similarly, Varanasi-based FPO Jaya Seed Farmer Producer Company Ltd, which grows mangoes in around 50 acres, is getting higher price as compared to average price of the market after the intervention of APEDA. Prior to the initiative taken by APEDA, the FPC used to sell mangoes at an average price of ₹ 25/kg, but in recent season they have sold it at ₹ 50/kg to a Netherland-based company named Super Plum having few outlets in Bangalore and Mumbai.

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