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August 28, 2026
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IPO approval enables Jio Platforms to issue fresh equity shares, with proceeds earmarked for subsidiary debt repayment and corporate purposes.
SEBI's final observations enable Jio Platforms Ltd to proceed with an initial public offering comprising up to 27 crore newly issued equity shares. The transaction is structured as a fresh issue of shares. Offer proceeds are primarily allocated towards repayment or prepayment of outstanding borrowings of Reliance Jio Infocomm Ltd, Jio Platforms' material subsidiary, with the balance designated for general corporate purposes.
August 28, 2026
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Gold price volatility intensified as dollar strength, profit-booking, and customs-duty-cut reports pressured domestic bullion markets.
Domestic bullion prices declined for a third consecutive session as a stronger US dollar and sustained profit-booking after a recent rally weakened gold and silver. Gold fell sharply in the national capital and silver also declined in domestic trading, with the three-day movement reflecting ongoing price volatility in the bullion market. International spot gold remained marginally lower while investors awaited policy-related remarks concerning inflation and elevated yields.
August 28, 2026
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Direct benefit transfer strengthens welfare delivery through Jan Dhan accounts, digital payments, reduced intermediaries, and expanded financial inclusion.
Direct Benefit Transfer has transferred welfare benefits directly to beneficiaries, largely through Jan Dhan accounts, reducing intermediaries and supporting transparent delivery. The Pradhan Mantri Jan Dhan Yojana provides unbanked adults basic accounts without minimum-balance or maintenance-charge requirements, along with RuPay debit cards, accident insurance coverage, and emergency overdraft access. Banking outlets, digital-payment infrastructure, and Bank Mitras extend formal financial services to women, rural and semi-urban communities, strengthening financial inclusion and participation in the formal economy.
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.

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HEALTH- A NARRATIVE ON DEDICATED COVID INFRASTRUTURE

January 31, 2023

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HEALTH- A NARRATIVE ON DEDICATED COVID INFRASTRUTURE

THREE-TIER ARRANGEMENT OF DEDICATED COVID-19 HEALTH FACILITIES IMPLEMENTED TO REDUCE COVID RISK

4,135 PSA PLANTS BEING ESTABLISHED IN COUNTRY TO ENHANCE OXYGEN GENERATION CAPACITY BY 4,852 MT

GUIDELINES DEVELOPED FOR SETTING UP OXYGEN PLANTS IN ALL HEALTH FACILITIES

GOVERNMENT ENSURES ADEQUATE SUPPLY OF MEDICAL OXYGEN FOR PATIENT CARE IN STATES; MORE THAN 4 LAKH OXYGEN CYLINDERS SUPPLIED TO STATES/UTS/ CENTRAL GOVERNMENT HOSPITALS

Covid-19 virus posed an unprecedented challenge to the country which was tackled with an agile approach, based on feed-back loops, real-time monitoring of actual outcomes, flexible responses, and safety-net buffers, as discussed in previous Economic Surveys.  Over two years since the pandemic was declared, the Government has taken various fiscal and social measures to balance the revival of the economy and deal with increasing caseloads. These included ramping up health infrastructure, both physical and digital, enhanced training of health professionals and, continuing with the mass vaccination drive,  says the Economic Survey 2022-23. The Union Minister for Finance & Corporate Affairs tabled the Economic Survey 2022-23 in Parliament today.

Highlighting the focus of Government on scaling up of health infrastructure under the Aatmanirbhar Bharat Abhiyaan, the Survey observes that the Union Government focussed on scaling up expenditure on health infrastructure by (a) investing in grass root health institutions and ramping up HWCs in rural and urban areas; (b) setting up critical care hospital blocks in all districts; and (c) strengthening the laboratory network and surveillance by integrated public health laboratories in all districts and blocks and public health units to manage pandemics. The State Governments also took various measures to fight the pandemic. This was complemented by digital infrastructure through Co-WIN for mass vaccination and e-Sanjeevani for telemedicine to reach the last mile. The timely intervention at all levels helped India navigate the Covid pandemic successfully despite successive shocks, notes the Economic Survey.

The Survey observes that in the last few months, the caseload has subsided significantly, where the active caseload is below 4000 and daily new cases recorded below 300 ( as of 29 December 2022).

Dedicated Covid Infrastructure:

A three-tier arrangement of dedicated Covid-19 health facilities in the country was implemented to reduce the risk of cross-infection to non-Covid patients and to make provision for non-Covid essential health services, mentions the Economic Survey. This three-tier arrangement of health facilities comprises (i) a Dedicated Covid Care Centre with isolation beds for mild or pre-symptomatic cases; (ii) a Dedicated Covid Health Centre oxygen-supported isolation beds for moderate cases, and (iii) Dedicated Covid Hospital with ICU beds for severe cases. Besides this, tertiary care hospitals under the ESIC, Defence, Railways, Central Armed Police Forces, Steel Ministry, etc., were also leveraged for case management. In addition, in many states, the Defence Research and Development Organisation (DRDO) utilised large-scale field hospitals to rapidly scale up treatment capacities.

Oxygen Infrastructure Strengthening during Covid Pandemic

  • Pressure Swing Adsorption (PSA) Oxygen Generation Plants:  Elaborating on the criticality of PSA plants, the Economic Survey states that PSA plants are being established in hospitals, especially in far-flung areas enabling the hospitals to become self-sufficient in the generation of oxygen for their needs and, thereby, reducing the burden on the medical oxygen supply grid across the country. It was emphasised that each district of the country should have at least 1 PSA plant from PM-CARES support at the public health facilities. Accordingly, 4,135 PSA plants are being established in the country, which enhance the oxygen generation capacity by 4,852 MT, as per details below. Ministry of Health and Family Welfare (MoHFW) has developed and shared the guidelines on indicative norms for setting up oxygen plants in all health facilities on 6 July 2021 with the states, the Survey states.

Source

No. of PSA Plants

Commissioned

PM-CARES

1225

1225

Central Government PSUs

283

283

Foreign Aid

53

50

State/CSR Initiatives

2574

2571

Total

4135

4127

   * Data as on 28 December 2022

  • Oxygen Cylinders: The Survey mentions that the Government has ensured an adequate supply of medical oxygen for patient care in the states. Until now, 4,02,517 oxygen cylinders have been supplied to States/UTs/ Central Government hospitals; which consists of 1.0 lakh by Central Medical Services Society (CMSS) in 2020; 1.3 lakh by CMSS in 2021; 1.5 lakh by DRDO in 2021 and 23,000 from foreign aid. The oxygen cylinder allocation has been performed in a transparent and participative manner with States/UTs.
  • Moreover, MoHFW has approved distribution of additional 14,340 D-Type oxygen cylinders among states from UNICEF-ADB (Asian Development Bank) support, which is under process.
  • Oxygen Concentrators: A total of 1,13,186 oxygen concentrators have been procured by the Government for Covid management, i.e., 99,186 under PM-CARES through ONGC for use in rural areas; and 14,000 under Emergency Covid Response Package (ECRP) support. All these domestically procured concentrators have already been allocated to states/UTs. Moreover, states have been advised to promptly issue oxygen concentrators to districts with details of consignee points and promptly enter data pertaining to the receipt of oxygen concentrators at the district level on the OC-MIS portal (OxyCare MIS Portal).

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