Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Canada strikes back at US with retaliatory tariffs as trade war escalates
    Rupee rises 26 paise to close at 95.44 against US dollar
    Economy shows resilience to global headwinds with buoyant domestic demand: RBI bulletin
    Goyal promises BIS certification relief for high-tech sector firms
    IICA Conducts inaugural session of 11th Batch of its Certified CSR Professional Programme
    Net Profit of Regional Rural Banks (RRBs) Rises to Record ₹10,176 Crore, Total Business Cross ₹13.5 Lakh Crore in FY 2025-26
    UP Cong chief writes to PM Modi on ethanol policy, sugar prices
    Economy shows notable resilience despite global headwinds: RBI bulletin
    Sugar prices rise by nearly Re 1 per kg to about Rs 64
    Trump says he's considering renaming Lake Ontario as 'Lake America' as trade war with escalates
    Flash Report on Central Sector Infrastructure Projects worth ₹150 crore and above
    HP minister warns orchardists against spurious PGRs sold in open market
    NEWS HIGHLIGHTS
    AERA cuts user development fee for domestic, int'l passengers at Hyderabad airport
    Rupee rises 24 paise to close at 95.46 against US dollar
    India pivots to US for LPG, LNG as West Asia crisis disrupts Gulf supplies
    Experts Call for Intelligence-Led Action to Break Cross-Border Illicit Trade Networks at ASIA Security Conference 2026
    How NRIs Can Structure Bank Accounts in India When They Have Both Indian and Overseas Financial Commitments
    Sugar ex-mill prices down 18 pc to Rs 55/kg after import move, curbs on hoarding: Food secretary
    SBI eyes USD 10 bln from NRIs, foreign investors ahead of RBI swap window closure
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 25, 2026
Show AI Summary
Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses.
Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
August 25, 2026
Show AI Summary
Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions.
Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
August 25, 2026
Show AI Summary
Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand.
Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
August 25, 2026
Show AI Summary
BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations.
Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
August 25, 2026
Show AI Summary
Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives.
Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.
August 25, 2026
Show AI Summary
Regional rural bank performance highlights improved profitability, asset quality, priority-sector lending, financial inclusion, and digital banking expansion.
Regional Rural Banks achieved prescribed priority-sector lending targets and sub-targets, expanded financial inclusion through new Pradhan Mantri Jan Dhan Yojana accounts, and recorded improvement in profitability, asset quality, and credit-deposit ratio. Digital banking adoption is to be accelerated to improve operational efficiency, customer experience, and banking access in rural and remote areas. Sponsor Banks are expected to strengthen information-technology infrastructure and support increased area-specific credit flows and innovative lending.
August 25, 2026
Show AI Summary
Ethanol-blended fuel policy faces calls for consumer-focused review amid sugar supply pressures and older-vehicle compatibility concerns.
Consumer-focused review of the ethanol-blended fuel policy is sought because higher ethanol diversion may affect domestic sugar availability and prices, potentially requiring sugar imports that could reduce claimed foreign-exchange savings from lower petroleum imports. The review should address ethanol and sugar production, domestic prices, imports, and consumer, environmental and economic concerns. Availability of lower-blend fuel alongside E20 is advocated for owners of older vehicles, with consumer choice between E10 and E20 supporting a comprehensive reassessment.
August 25, 2026
Show AI Summary
Economic resilience remains supported by domestic demand, manufacturing, liquidity and capital inflows despite external trade and geopolitical risks.
Economic resilience is attributed to buoyant domestic demand, sustained manufacturing and services activity, and double-digit merchandise trade growth. Improved southwest monsoon conditions supported kharif sowing and partly reduced agricultural risks, although geopolitical frictions and fresh United States tariffs remained external risks. Supply-side pressures raised consumer price inflation, while stable core inflation indicated limited cost pass-through. Easing liquidity, credit growth, investment activity and rebounding foreign capital inflows supported financial and external-sector conditions.
August 25, 2026
Show AI Summary
Sugar price controls combine raw sugar imports, stockholding limits, and export restrictions to curb retail inflation.
Sugar market intervention combines permitted imports of raw sugar, stockholding limits for dealers and bulk consumers, and an existing export ban to address sharp increases in retail and wholesale prices. Limits on inventories held by trade participants and large industrial consumers are intended to curb speculation and hoarding. Although ex-mill rates declined after the import decision and anti-hoarding measures, the reduction had not yet translated fully into retail prices. The measures seek to supplement domestic availability and restrain practices that may intensify consumer-price increases.
August 25, 2026
Show AI Summary
Tariff escalation drives retaliatory planning, industry protection measures, supply-chain uncertainty, and proposed symbolic geographic renaming amid cross-border trade tensions.
United States-Canada trade tensions have intensified after tariffs were imposed on Canadian goods following unsuccessful bilateral talks. Canada is expected to pursue retaliatory measures, potentially using targeted action to protect workers and businesses rather than matching tariffs directly. Further tariff threats concern vehicles, auto parts and steel. Integrated cross-border supply chains in automotive, energy, agriculture and manufacturing face increased costs and consumer-price uncertainty. Consideration of renaming Lake Ontario as "Lake America" has also been linked to the escalating dispute.
August 25, 2026
Show AI Summary
Central infrastructure monitoring through PAIMANA-PROJ tracks implementation progress, sectoral priorities, completed works, and integration of newly monitored projects.
PAIMANA-PROJ monitors Central Sector infrastructure projects costing Rs. 150 crore and above across 17 Ministries and Departments. As of July 2026, 1,775 projects with a revised cost of Rs. 37.11 lakh crore were under monitoring, with cumulative expenditure of Rs. 19.26 lakh crore. Transport and Logistics formed the largest monitored sector, followed by Energy. The portfolio included mega and major projects at varying physical and financial completion stages. PAIMANA-CRIP serves as the central infrastructure-project data repository, with most data updated through APIs.
August 25, 2026
Show AI Summary
Plant growth regulator quality controls require farmer awareness, licensed sales, quarantine compliance, and protection against uncertified orchard inputs.
Plant Growth Regulator quality control seeks to protect farmers and orchardists from spurious products sold in the open market. Licensed pesticide and fungicide outlets receive application schedules, while farmer awareness is stressed due to purchases of cheaper PGRs that may not achieve expected results. Rootstock imports require quarantine clearance, and uncertified rootstock purchased from the market is associated with disease spread in orchards. Regulatory measures include direct departmental sale of branded chemicals, promotion of weather-based crop insurance, and demands concerning minimum support pricing and Market Intervention Scheme documentation.
August 25, 2026
Show AI Summary
Anti-conversion compliance prompts voluntary prayer declarations, alongside food-safety oversight and enforcement against demolition, liquor, and cyber-fraud allegations.
Maharashtra's anti-conversion law has commenced, and churches across the Mumbai Metropolitan Region have sought written self-declarations confirming voluntary prayer attendance without pressure. Food-safety oversight requires cleaning of cricket association eateries before a further inspection. Enforcement matters include investigation into unauthorised shop demolitions allegedly involving misuse of a municipal corporation's name, arrests connected with spurious-liquor manufacture, and a cyber-fraud network allegedly using mule accounts to launder proceeds. A retired High Court judge has been appointed as Lokayukta.
August 25, 2026
Show AI Summary
User development fee rationalisation reduces departure charges and links airport cost recovery to commissioned capital projects during the tariff cycle.
Airport tariff regulation for Hyderabad airport fixes reduced User Development Fee for departing domestic and international passengers from 1 September 2026 through 31 March 2031, with rationalised landing charges. The tariff determination applies the incremental Aggregate Revenue Requirement framework, linking airport-charge cost recovery to completion, commissioning and use of identified high-value capital expenditure projects. A variable tariff plan provides landing-charge incentives upon prescribed qualifying conditions, supporting traffic development and route expansion while requiring cost-reflective, transparent and non-discriminatory aeronautical tariffs.
August 25, 2026
Show AI Summary
Rupee appreciation reflects weaker dollar, lower crude prices, positive equities, and foreign-exchange inflows through swap facilities.
Foreign-exchange market conditions supported the rupee's appreciation against the US dollar, driven by positive domestic equity markets, a weaker dollar, and declining crude-oil prices. The USD/INR pair remained within a narrow range, with oil-price movements and potential central-bank intervention identified as near-term determinants. A special USD-INR foreign-exchange swap facility covering FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings had mobilised foreign-exchange inflows relevant to currency liquidity.
August 25, 2026
Show AI Summary
Energy supply diversification reshapes India's LPG, LNG and crude sourcing amid constrained Gulf availability and higher logistics costs.
India's energy-import sourcing has shifted towards supply diversification as disruption in the Strait of Hormuz constrained traditional Gulf supplies. United States cargoes have become particularly important for LPG and LNG, while procurement has also broadened to Atlantic Basin and other non-traditional suppliers. Diversification increases costs through longer voyages, higher freight, insurance expenses, tighter availability and higher commodity prices, reflecting a premium for supply security. Crude sourcing continues to rely principally on Russia, alongside resilient UAE flows and increased Venezuelan heavy crude imports.
August 25, 2026
Show AI Summary
Intelligence-led enforcement against illicit trade requires coordinated data-sharing, risk profiling, digital accountability and disruption of organised supply networks.
Cross-border illicit trade enforcement should move beyond isolated seizures to intelligence-led disruption of organised criminal networks. Risk-based profiling, predictive analytics, container scanning and shipment-data analysis should support targeted action against misdeclaration, port-hopping, concealment and digital distribution. Right holders should share specific intelligence with customs targeting mechanisms, and goods entering Domestic Tariff Areas from warehousing and special economic zones require enhanced examination. Digital enforcement should trace suppliers, financial flows, data trails and small-parcel movements, supported by coordinated feedback between online marketplaces, police and customs.
August 25, 2026
Show AI Summary
NRI banking account segregation aligns overseas earnings, domestic income, foreign-currency savings, remittances, and borrowing with cross-border commitments.
NRI banking arrangements require segregation of overseas earnings, India-sourced income, savings, remittances and expenditure after residential status changes. An NRE account holds overseas income remitted to India, with interest exempt from income tax in India. An NRO account is intended for Indian income, including rent, dividends and pension, while FCNR deposits retain funds in a chosen foreign currency. A structured arrangement can align these accounts with domestic obligations, overseas spending, remittances, investments and compliant digital banking access.
August 25, 2026
Show AI Summary
Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
Show AI Summary
Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

Speech of the Hon’ble Finance Minister on the occasion of the Foundation Stone laying of Bank Note Paper Line at SPM, Hoshangabad today I am happy to be here on this occasion in the city of Hoshangabad, which is located on the south bank of holy river Narmada.

December 17, 2011

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Press Information Bureau

Government of India

Ministry of Finance

17-December-2011 17:40 IST

At the outset I would like to congratulate the management and employees of SPM, Hoshangabad on this occasion.

2. Security Printing and Minting Corporation Of India Limited (SPMCIL) was formed a company after corporatization of nine units (Four mints, two currency printing presses, two security printing presses and one security paper mill). These units were earlier functioning under the Currency & Coinage division of the Department of Economic Affairs, Ministry of Finance. This was based on the report of the Expenditure Reforms Commission followed by study by IFCI. The main goal of corporatization was to foster efficiency by speedy decision making and increasing the pace of modernization to have the state of art security products. The company was incorporated on 13.01.2006 and started functioning w.e.f. 10.02.2006 as wholly owned Corporation of the Government of India.

3. After Corporatization the Govt. employee were kept on deemed deputation. After the signing of the tripartite agreement called Memorandum of Settlement (MoS) between SPMCIL, Ministry of Finance and the Federation / Unions in the presence of the Chief Labour Commissioner (Central), during Sep, 2008, about 90% employee opted for the Corporation. As on 31.03.2011 there were about 13500 corporation optees and about 1400 Govt. optees. Out of the SPMCIL optees about 11,000 opted for pro-rata pension and the balance about 3000 had opted for combined pension. The Pension Trust, EPF Trust and GPF Trust etc., have been operationalized.

3. The performance of the corporation in terms of production, turnover, profitability and other financial and physical parameters has improved significantly over the last five years. The company has achieved most of the objectives of Corporatization in a short span of four years. SPMCIL has been granted Mini Ratna category-I status. I am informed that SPMCIL has returned about Rs. 1000 crore of loans of RBI & MoF and by this year end it is likely to be a zero debt company.

4. I have been told that SPMCIL is making coins and currency not only for India but also for other countries. The expertise developed by the company over the years may be further expanded to develop products for other countries and assume a leadership position in this area.

5. Transparency is key to innovation and business development. SPMCIL has been actively pursuing transparent business processes particularly in its procurement processes. To take forward the transparency in the organization SPMCIL Board has adopted a procurement manual based on the best practices in the Govt. of India. It is expected that, this will bring transparency, efficiency and equity in procurement of security sensitive items. I will further encourage SPMCIL Board to continue to move forward in bringing further transparent procedures in its business transactions to promote innovation in a technologically oriented organization.

6. In order to give thrust to modernizations and indigenization, SPMCIL has an investment plan of approx. Rs. 2500 Crore for the five years from 2009-10 to 2013-14. Company has carried out major modernizations of Mints by Introducing state of the art coining presses, coin blank manufacturing lines and finishing & packaging lines. As part of modernization of Currency Printing Presses, one line of Currency Printing machine at Bank Note Press, Dewas is under advanced stage of installation and commissioning. The new Bank Note Paper Line at SPM, Hoshangabad is part of this modernization.

7. Extensive thrust has been given to indigenization efforts in the production of raw materials for the bank notes. A joint venture company called Bank Note Paper Mill India Ltd. (BNPMIL) for the production of indigenous currency paper has been set up at Mysore with 50:50 equity participation by SPMCIL and Bhartiya Reserve Bank Note Mudran Private Limited (BRBNMPL), a subsidiary of RBI. This paper mill will have capacity to produce 12000 tonnes of currency paper annually. The planned currency paper production of JV Company combined with production at SPM, Hoshangabad will be able to produce about 21,000 MT of paper annually. This will meet about 90% of the currency paper requirements by 2014 end.

8. The requirement of specific type of inks used in currency printing is likely to be fully made by Bank Note Press, Dewas by upgrading the ink factory. The modernization of ink factory at Bank Note Press, Dewas is under process. Triple Roll Mills have been commissioned and some additional equipment’s are at planning stage. The production is planned to be ramped up by the year end. Various R&D projects have also been taken up simultaneously in the areas of banknote paper mill, currency printing and coins metallurgy.

9. India is a victim of injection of fake currency in our economy. There are indications that fake currency is being injected from some of our neighboring countries either as a source or as a route. We have made serious attempts to curb the circulation of fake currency by streamlining the enforcement mechanism at the centre as well as State level. The efforts have been to increase the risk factors for carriers of fake currency in India. We have to continue to focus in the enforcement to check the design of anti-national elements.

10. We have also taken a series of measures to strengthen the security features of Indian currencies. A committee of officials from DEA, RBI, BRBNMPL, SPMCIL and security agencies has been constituted under the Chairmanship of DG/Currency for short listing of the Security features through global competitive bidding. A Separate committee constituted by RBI is finalizing the new design of the next series of the Indian Bank Note. The generalized technical specifications for various broad category of security features have been approved by High Level Committee. The acquisition of security features is being done in the most transparent way.

Therefore, the efforts of the Govt. is to make security features of Indian currency so strong that it becomes highly difficult to fake. At the same time we are also ensuring that the enforcement mechanism acts as deterrence to those who are involved in the circulation of fake currency. It is expected that this two prong strategy of the Govt. to fight the menace of fake currency in India will yield substantial results in years to come.

11. The Security Paper Mill (SPM), Hoshangabad commenced production of Currency and Non-Judicial Stamp Papers during 1967. The Mill was established with the process know-how and technology provided by M/s Portals Ltd, United Kingdom. The Mill has four cylinder mould vat made watermark Bank Note (CWBN) paper machines along with finishing end, testing laboratory and facility for making mould covers. SPM, Hoshangabad also has effluent treatment plant. The Mill draws water from river Narmada. I am happy that the Mill is giving adequate attention to environmental issues, which are critical for a sustainable development.

12. I am informed that for increasing the capacity limited modernization was done during 1982 by providing additional stock preparation machinery. After modernization, the capacity of SPM, Hoshangabad was expected to be 5500 Metric Ton Per Annum (MT) but due to various constraints this capacity could never be achieved. Further, modernization of printing presses required changes in currency notes sheet sizes resulting in lower machine deckle utilization. This combined with necessity to incorporate new security features like windowed thread, fibers and paper taggant also reduced capacity. The present capacity of SPM, Hoshangabad is about 2800 MT. This is a lesson which we have to keep in mind that upgradation and modernization should be carried out by factoring in the various changes which are likely to occur in future. The futuristic planning can ensure that there is no obsolescence and under capacity utilization.

13. Efforts are being made to order to indigenize the requirement of currency paper as per the recommendations of the Committee on Indigenization, under the chairmanship of Dr. Baldev Raj, Director, Indira Gandhi Centre for Atomic Research. I am told that the procurement of one line costing about Rs. 489 crores (approx) is in process, which will further strengthen our indigenous capacity.

14. The Order for design, procurement, supply, installation and commissioning of CWBN paper line of 6000 MT has already been placed, at a cost of about Rs. 445 crores. The project is likely to be completed by October, 2013. The completion of the project will reduce our dependence on foreign supplier. This will also reduce the possibility of diversion of papers supplied by foreign supplier to other destinations for the purposes of generating fake currency. We have to take the drive of indigenization to a logical conclusion by becoming self reliant. Our long term goal should be to meet our domestic requirement related to currency and subsequently cater to the demand of the international market. Looking into the technological and scientific temperament of our younger generation, I am sure we can achieve it.

I again wish good luck to all the employees and staff members on this occasion.

DSM

Topics

Acts Income Tax