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    India draws record USD 127 bn forex deposit in special drive
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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.
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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.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
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September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
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September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
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September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
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September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
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September 2, 2026
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Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
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September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.

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Customs, DGFT & SEZ

ODOP aims at balanced regional development across the country

March 25, 2023

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The ‘One-District One-Product’ (ODOP) initiative is aimed at fostering balanced regional development across all districts of the country, the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash said in reply to a parliamentary question. The initiative aims to select, brand, and promote at least One Product from each District (One District – One Product) of the country for enabling the holistic socioeconomic growth across all regions. The ODOP Initiative has identified a total of 1102 products from 761 districts across the country.

The products identified under ODOP initiative are voluminous and available on DPIIT’s website under the links

            https://dpiit.gov.in/sites/default/files/ls_3606_ODOP_21March2023.pdf .

Several steps have been undertaken for promotion and exports of all ODOP products. This includes, regular capacity building initiatives in collaboration with other government/private bodies such as National Institutes of Design/National Institutes of Fashion Technology, e-commerce onboarding drives for Government e-Market (GeM) ODOP Bazaar which showcases and stocks India’s best ODOP products. For introduction of ODOP initiative at international level, virtual buyer sellers meets were undertaken along with Indian embassies and missions abroad. The aim is to familiarize foreign dignitaries from Countries across the world about the plethora and diversity of products under the ODOP initiative, consequently promoting a brand image and propelling international marketing for local products.

Ministry of External Affairs is leveraging the One District One Product (ODOP) initiative by presenting an array of distinct and diverse handicrafts from different regions of India as gifts to the esteemed delegation of the G20 summit, which India is hosting this year. These gifts are carefully curated with a story card that highlights the geography, community involved in its production, and other intricate details about the product.

The details of the major steps undertaken are as follows:

To promote exports, dialogue has been successfully initiated with multiple embassies to increase the reach of India’s rich and diverse products internationally. States and UTs have been participating in Buyer-Seller meets, Trade facilitation efforts within the country and at international events such as Dubai World Expo 2020 and at International Day of Yoga in June 2022 at New York. Capacity building workshops have been conducted for local artisans/weavers/SHGs of the following products Pashmina, Sea buckthorn and Apricot from Ladakh, Bamboo Furniture and Handicraft products from Tripura, Molela Clay-Work from Rajasthan, Kamrup Silk products from Assam. Few activities undertaken under by the ODOP Initiative are as follows:

Lakadong Turmeric, West Jaintia Hills, Meghalaya - Facilitated a consignment of 30 tonnes of Lakadong Turmeric from Shillong, Meghalaya in February 2022.

Indo-Japan Mango Festival, Tokyo, Japan -As a result of sustained efforts by the Embassy of India, Tokyo, Japan, and the Agricultural & Processed Food Products Export Development Authority (APEDA) - trade promotion for Indian mangoes in Japan has been undertaken under two editions of 'Mango Festival of India in Tokyo, Japan'. A key achievement of the same is the launch of aromatic, delicious, and nutritious Indian Mangoes in 127 convenience stores of Lawson (29th March 2022) and in the wholesale markets of Nishikasai and Akita Prefecture (28th March 2022).

North-East Mega Buyer Seller Meet in collaboration with the Ministry of Development of North –east Region (DoNER) in Guwahati. Over 70+ sellers, traders, aggregators, farmers from various districts of each of the Northeastern states showcased their products to the buyers who had arrived for the meet in Guwahati.

Walnuts, Budgam, Jammu & Kashmir (26th September 2021) – Initiative in partnership with JKTPO facilitated import substitution of over 2000 KGs of walnuts from Budgam, Kashmir to Bangalore, Karnataka on 26th September 2021.

Sui Dhaaga: India-Russia Buyer Seller Meet for Textile Products (22nd September 2021)- Initiative in partnership with the Embassy of India, Moscow held a buyer-seller meet on textile products focusing on rayon and polyester.

ODOP also showcased and supported the celebration of the International Day of Yoga (IDY) at Times Square in New York on June 21, 2022, in collaboration with the Consulate General of India, New York. Multiple ODOP products were displayed at the World Economic Forum held from 22nd Jan 2023-26th Jan 2023 in the Indian Pavilion at Davos in Switzerland.

The initiative has been actively collaborating with various Indian Embassies to promote exports and public procurement of ODOP products. Various ODOP products have been delivered to multiple Indian Embassies in Argentina, Nigeria, Croatia, etc.

ODOP Exhibitions have been organized in the Zagreb Ethnographic Museum, Croatia, and in Vancouver, Canada to promote exports of ODOP products.

Under the ODOP initiative, all products have been selected by States/UTs by taking into consideration the existing eco-system on the ground, products identified under Districts as Export Hubs (DEH), and GI-tagged products. The finalized list is communicated to DPIIT by the relevant Department of States/UTs. All activities including exhibitions, capacity building, etc. are undertaken at the State/UT and district level, in consultation and coordination with the States/UTs.

The ODOP Initiative is aimed at fostering balanced regional development across all districts of the country. The States/UTs have been participating in many Trade facilitation events within the domestic and international markets such as the Dubai World Expo 2020 and in International Day of Yoga in June 2022 in New York. The Initiative has been conducting Capacity-building workshops on organic certification, design development, etc for the promotion of regional trade for local artisans, weavers’ manufacturers, etc. For instance, Capacity building workshops have been conducted for local artisans/weavers/SHGs of the products like Agate stone in the city of Khambhat, Gujarat, Sea buckthorn and Apricot from Ladakh, Bamboo Furniture and Handicraft products from Tripura, Molela Clay-Work from Rajasthan, Kamrup Silk products from Assam.

Activities undertaken under by the ODOP Initiative are as follows:

Mega Buyer-Seller Meet in Jammu and Kashmir and Assam were held with over 70 sellers, traders, farmers, aggregators from various districts of each of the NE States showcasing their products. The Buyer Seller Meet in Jammu & Kashmir witnessed the presence of multiple national and International Brands.

Mango Festival of India in Japan was conducted with Mango varieties from States such as Andhra Pradesh, Gujarat, Maharashtra and Telangana, in collaboration with the Embassy of India, Tokyo, Japan. A key achievement of the same is the launch of aromatic, delicious, and nutritious Indian Mangoes from 8 states (46 districts) in 127 convenience stores of Lawson (29th March 2022) and in the wholesale markets of Nishikasai and Akita Prefecture (28th March 2022).

Multiple ODOP products were displayed at the World Economic Forum held from 22nd Jan 2023- 26th Jan 2023 in the Indian Pavilion at Davos in Switzerland.

also showcased and supported the celebration of the International Day of Yoga (IDY) at Times Square in New York on June 21, 2022 in collaboration with the Consulate General of India, New York. The aim was to familiarize foreign dignitaries from Countries across the world about the plethora and diversity of products under the ODOP initiative, consequently promoting a brand image and propelling international marketing for local products.

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