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August 10, 2026
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Cost optimisation in public finance strengthens investment decisions, risk allocation, indigenous manufacturing and value-driven government expenditure through specialised financial expertise.
ICoAS cost optimisation supports public financial management through prudent resource utilisation, financial oversight and improved cost management across government. Its role includes supporting indigenous manufacturing, better investment decisions, efficient public expenditure and maximum value for public spending. With greater private-sector participation and Public-Private Partnerships, ICoAS officers are expected to promote cost efficiency, appropriate risk allocation and sound project structuring. Capacity building emphasises integrity, financial modelling, data visualisation, analytical frameworks and artificial intelligence for improved public-finance management.
August 9, 2026
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Co-operative development financing would expand through direct assistance, share-capital participation and wider operational powers for sectoral support.
National Cooperative Development Corporation (Amendment) Bill, 2026 proposes to broaden the Corporation's mandate to promote co-operative development. It would permit direct loans and grants to co-operative societies and other entities engaged in co-operative development, where funds are used for co-operative purposes. With Central Government approval, the Corporation could participate in the share capital of such entities. The proposals also expand the meaning of foodstuffs, remove geographical restrictions for industrial-goods assistance, and provide additional functional powers.
August 9, 2026
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GST compliance failures and electricity subsidy controls raise allegations of financial irregularities and potential losses to the public exchequer.
Allegations based on a Comptroller and Auditor General report identified purported GST compliance failures involving outstanding tax liabilities, e-way bills generated after cancellation of GST registrations, limited bill scrutiny, non-compliance, and turnover mismatches. The allegations also concerned electricity subsidies extended to consumers with prolonged zero bills or apparent non-residence, presenting these issues as possible financial irregularities and losses to the public exchequer.
August 9, 2026
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Money-laundering prosecution complaints allege fund diversion through shell entities, credit-facility evergreening, layered transactions and fictitious project expenditure.
Money-laundering prosecution complaints allege that funds from toll-road projects and credit facilities were diverted through group companies, contractors, shell entities and conduit accounts. In the toll-road matter, allegedly sham or back-dated subcontracting arrangements and subsequent documentation were used to portray transfers as genuine project expenditure. In the credit-facilities matter, fresh facilities were allegedly used to repay, rotate and evergreen earlier liabilities rather than for sanctioned end-use, with funds layered and presented as legitimate business expenditure or receipts. Attached assets are sought to be confiscated as alleged proceeds of crime.
August 9, 2026
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Direct Benefit Transfer pension disbursement replaces cooperative-bank doorstep delivery, while preserving home payments for beneficiaries unable to use bank accounts.
Direct Benefit Transfer of social security and welfare pensions to Aadhaar-linked bank accounts is intended to replace cooperative-bank doorstep delivery, except for bedridden and similarly situated beneficiaries. The change addresses delays in remitting undistributed pensions, deficient record updates and reconciliation, duplicate payments, delivery incentives, and compliance with Direct Benefit Transfer norms. Criticism focuses on beneficiary access to linked commercial-bank accounts, possible minimum-balance deductions, exclusion of cooperative banks, and the effect on doorstep-delivery workers.
August 8, 2026
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Engineering business growth supported Raymond's first-quarter performance, with export expansion, capacity investment and net-debt-free financial flexibility.
Raymond Limited reported unaudited first-quarter FY27 growth in total income, EBITDA and profit before tax before exceptional items, while remaining net-debt-free with a net cash surplus. Its Engineering business comprises Precision Technology & Auto Components and Aerospace & Defence. Growth in the former was attributed to export expansion, operating leverage, product mix and cost reductions. Aerospace & Defence growth was linked to production for global OEMs, portfolio expansion and increased capacity, although margins were affected by targeted research and development investment. Forward-looking statements remain subject to regulatory, political, economic and technological risks.
August 8, 2026
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Savings account selection requires comparison of effective interest, fees, digital service, access, and individual banking needs.
Savings-account selection should compare effective interest returns under slab-based rates, recurring operating charges and the customer's actual banking needs. Net value depends not only on advertised rates but also on relevant minimum-balance, card, ATM, alert and transfer fees. Digital reliability, customer support, branch availability and ATM access should be assessed according to the customer's average balance, cash use, transfer frequency, travel patterns and need for in-person assistance. The suitable account is one that matches real banking behaviour.
August 8, 2026
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Urban cooperative bank regulation promotes licensing, governance, compliance support and cybersecurity measures to strengthen stability and depositor confidence.
Urban cooperative banks are encouraged to recognise regulatory support through liberalised branch opening, doorstep banking, demand drafts, life certificates, dedicated regulatory coordination, enhanced gold-loan limits, one-time settlements and progress towards on-tap licensing. Sound governance is material to sectoral stability, while small-borrower lending is presented as a comparatively safe lending segment. The umbrella body can support member banks through technical expertise, compliance assistance, cybersecurity solutions and participation in a security operations centre to strengthen depositor confidence.
August 8, 2026
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Korean food export promotion combines buyer consultations, regulatory guidance and consumer experiences to support entry into Indian and South Asian markets.
Korean food export promotion in India and South Asia combined business consultations with consumer-facing activities. Individual meetings connected Korean exporters with regional buyers and generated memoranda of understanding for products including frozen gimbap, ginseng wine and kombucha. Exporters received on-site guidance concerning non-tariff barriers, including food import customs clearance and certification requirements. Preparatory online sessions addressed import procedures, regulatory matters and consumer trends, while consumer events promoted Korean food through tasting, retail and experiential activities.
August 8, 2026
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Illegal immigration enforcement prioritises dismantling entry, documentation and employment networks while requiring citizens to report information through police channels.
Illegal immigration enforcement involves continuous identification and verification operations, coordination with relevant officials, and confidential investigation of networks facilitating entry, identity documentation, accommodation and employment. Enquiries extend to intermediaries, contractors, Aadhaar procurement and verification practices, rather than focusing only on apprehended individuals. Citizen vigilantism, moral policing and social-media targeting of suspected migrants are discouraged because they may compromise investigations; information should instead be given through proper police channels.
August 8, 2026
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Technology, transparency and governance strengthen urban cooperative banks through modern customer services, depositor protection and cooperative-sector support.
Technology adoption, transparency, sound governance and modern customer services are identified as necessary for urban cooperative banks to remain competitive. Banks are encouraged to join the sector's umbrella organisation and self-regulatory body, which provides capital, information-technology infrastructure and liquidity support. Protection of depositors' money remains a regulatory responsibility, while banks are expected to improve governance, train staff, adopt technology and enhance customer-centric services. Customer prosperity and reduced perception gaps between the central bank and urban cooperative banks are emphasised as measures to strengthen the sector.
August 8, 2026
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Authorised Dealer Category-II licensing expands permissible FEMA current account and foreign trade transaction services for cross-border payment customers.
An Authorised Dealer Category-II approval under the Foreign Exchange Management (Authorised Persons) Regulations, 2026 enables Paul Merchants to undertake additional permissible non-trade current account transactions under FEMA, excluding gifts and donations, and foreign trade transactions within the applicable per-transaction limit. The approval supports foreign exchange and cross-border payment services, including overseas remittances for education, medical treatment, travel, and conference or event participation.
August 8, 2026
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Integrated investor claim portal modernisation advances digital KYC, streamlined verification, stakeholder-informed safeguards, and efficient investor claim settlement services.
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August 7, 2026
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Foreign capital inflows supported the rupee despite geopolitical uncertainty, oil-price pressures, and volatile global market sentiment.
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August 7, 2026
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Energy security through diversified sourcing protected fuel supplies during Hormuz disruption and supports domestic exploration and alternative fuels.
Energy security measures based on diversified crude oil and LPG sourcing, expanded infrastructure, increased domestic LPG production and alternative fuels were presented as maintaining fuel availability during disruption of shipping through the Strait of Hormuz. Domestic resilience is also linked to support for private deep-water oil and gas exploration, opening offshore acreage, and expansion of compressed biogas and ethanol blending. Ethanol-blended petrol testing identified limited contamination instances rather than a systemic issue, while excise duty reductions were described as cushioning consumers against global fuel-price volatility.
August 7, 2026
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Credit valuation adjustment framework revises derivative capital requirements through flexible basic approaches, hedge recognition, and risk-sensitive counterparty treatment.
Credit Valuation Adjustment framework revisions align CVA capital treatment with final Basel III standards. Eligible banks may use the full or reduced basic approach, while banks with an insignificant volume of non-centrally cleared derivatives may calculate their CVA capital charge at 100 per cent of the counterparty credit risk capital charge. The draft also clarifies CVA hedge recognition, introduces risk weights sensitive to sector and credit quality, and separates systematic and idiosyncratic CVA risk in the full basic approach.
August 7, 2026
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Leverage ratio framework amendments propose Basel-aligned capital adequacy standards, with public feedback invited on the draft directions.
Proposed amendments to the leverage ratio framework would revise Chapter VII of the 2025 Commercial Banks Prudential Norms on Capital Adequacy Directions to implement the Basel Committee's Leverage Ratio 2017 Standard. Public comments and feedback on the draft Eleventh Amendment Directions, 2026, are invited until August 28, 2026, through the designated online platform, postal submission, or email.
August 7, 2026
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BHAVYA Scheme project selection uses challenge-based evaluation of infrastructure, industrial ecosystems, and policy enablers under prescribed eligibility criteria.
BHAVYA Scheme Phase-I proposals submitted by State and Union Territory governments will be evaluated and scored under prescribed eligibility and evaluation criteria. Challenge-based project selection considers connectivity and site suitability, quality of core, value-added and social infrastructure in the detailed project report, and the industrial ecosystem and policy enablers. The Scheme guidelines provide for completion of the first-phase selection process within one year from notification.
August 7, 2026
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Multilateral trade cooperation preserves developing economies' policy space while advancing MSME finance, diversified value chains and digital services.
BRICS ministers adopted measures supporting a development-centred multilateral trading system with the World Trade Organization at its core, preservation of Special and Differential Treatment, binding two-tier dispute settlement, and developing economies' policy space for food security and public stockholding. MSME measures include study of an invoice discounting mechanism and credit-assessment principles focused on cash flow rather than collateral. Value-chain measures provide for a GVC Action Plan, technical cooperation, Special Economic Zone cooperation and digitised trade documents, alongside principles for trusted cross-border digitally delivered services.
August 7, 2026
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Digital public procurement promotes transparent sourcing, reduced seller charges, competition monitoring and evidence-based spending oversight through an integrated marketplace.
Government e-Marketplace digitises public procurement through a unified platform promoting transparency, efficiency, good governance and wider supplier participation. Seller-facing measures include reduced transaction charges, exemption of smaller orders, a cap on maximum transaction fees and reduced vendor assessment fees. The platform uses Artificial Intelligence and Machine Learning tools to identify suspected cartelisation, collusion and order splitting, while its digital transactional trail supports expenditure monitoring, identification of inefficiencies and evidence-based policy interventions.

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Customs, DGFT & SEZ

Centre allocates 145 Crores rupees to Nagaland for the purpose of Unity Mall in Dimapur

June 22, 2023

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Centre allocates 145 Crores rupees to Nagaland for the purpose of Unity Mall in Dimapur

Efforts such as Krishi UDAN scheme, expanding railway connectivity to be undertaken to improve logistics facilities for ODOP products from Nagaland

Organic certification will play major role in insuring better access for Indian products in foreign markets and help gain better prices for farmers: Sumita Dawra, Special Secretary, DPIIT

Department for the Promotion of Industry and Internal Trade  and Invest India in collaboration with the Department of Industries and Commerce, Nagaland, and Press Information Bureau Kohima organized an ODOP Sampark event on the 21st of June 2023 at the Hotel Vivor, Kohima, Nagaland. The event was graced by the Smt. Sumita Dawra, Special Secretary, DPIIT, Govt. of India, Shri R. Ramakrishnan, IAS, Development Commissioner, Govt. of Nagaland and Shri Kekhrievor Kevichusa, Commissioner & Secretary, Industries & Commerce, Govt of Nagaland

The event was organized to create awareness regarding the efforts of DPIIT, Ministry of Commerce and Industry, Govt of India through its two flagship Initiative One District One Product (ODOP) and PM Gati Shakti (Logistics).

Smt. Sumita Dawra, Special Secretary, DPIIT, Govt. of India highlighted the efforts of DPIIT and Invest India in conducting a National Programme for Organic Production (NPOP) Drive in Kohima, Nagaland on 20th June 2023 for Chilli from Nagaland.

  • The workshop was attended by over 30 farmers of Chili from Kohima, Nagaland.
  • The documentation for the organic certification for over 15 chili farmers from Kohima was done during the workshop and the remaining will be completed soon after the verification of their documents.
  • This will play a major role in ensuring better access for Indian products in foreign markets like the EU, Switzerland, etc, and help gain better prices for the farmers.
  • She also highlighted that efforts will be undertaken to improve the logistics facilities for ODOP products from Nagaland like chili, turmeric, kiwi, pineapple, etc, through the Krishi UDAN scheme, expanding railway connectivity, etc.
  • She also noted that the Union Budget 2023-24 has allocated Rs 5000 crore for the construction of Unity Malls across the country. This will function as a one-stop marketplace for ODOP products across the country.
  • It was also highlighted that INR 145 Crores has been allocated for the proposed Unity Mall planned by the State government in Dimapur.
  • The One District One Product Awards have been instituted by DPIIT to acknowledge the extraordinary work done by States/ UTs, Districts, and Indian Missions Abroad, for the economic development of the State and contribute towards the realization of the Hon’ble Prime Minister’s vision of Atmanirbhar Bharat through the ODOP approach.  The Awards will be launched on 25th June 2023 in the Rashtriya Puraskar Portal.

The local officials representing the Department of Industries, Agriculture, Horticulture and APEDA also highlighted the need for an integrated Customs Depo, a dedicated Krishi rail wagon up to Dimapur, and connectivity under the Krishi Udan Scheme for connectivity of organic products.

  • The Special Secretary also assured that these matters will be proactively taken up with all concerned Ministries/Departments under the PM Gati Shakti National Master Plan.

The official from DPIIT Invest also highlighted the efforts  under the ODOP Initiative for the empowerment of Indian products through interventions like Design sensitization workshops, ODOP GeM Bazaar on Government e-Marketplace, ODOP exhibitions, etc.

The event also witnessed an ODOP Exhibition of ODOP products from Nagaland including Chili, fish, coffee, turmeric, etc. It also provided an opportunity for the media to interact with ODOP farmers from Nagaland. The farmers were also able to raise their concerns with the officials for the promotion and empowerment of producers from Nagaland.

  • A review meeting on PM GatiShakti National Master Plan (NMP) under the chairpersonship of Special Secretary (Logistics) with officials of Govt of Nagaland being organized at Kohima on 21st June 2023. The objective of the meeting is to promote wider adoption of PM GatiShakti for holistic planning, bring more vigor and build synergy with all the stakeholders of the PM GatiShakti NMP.
  • The meeting was addressed by Sh Jan e Alam, Chief Secretary, Govt of Nagaland and Ms Sumita Dawra, Special Secretary (Logistics), DPIIT
  • Over 30 officials of Govt of Nagaland comprising the members from Empowered Group of Secretaries (EGoS) and Network Planning Group (NPG) of State attended the meeting.
  • PM GatiShakti is a transformative approach which was launched on October 13th, 2021 by the Hon’ble Prime Minister for planning & building Next Generation Infrastructure in the country, thereby promoting multimodal logistics connectivity to improve both Ease of Living as well as Ease of Doing Business.
  • Special Secretary in her presentation addressed the adoption of PM GatiShakti with a holistic approach and demonstrations of best practices by Ministries and States. Deliberations on requirements for State Master Planning, with special attention on data quality management, area development approach for developing economic centres in the North East, strengthening the North East corridor through adequate multimodal connectivity, Area planning approach for upcoming infrastructure projects, use of technology for improving logistics efficiency were the main highlights of the meeting.
  • Since the launch of PM GatiShakti National Master Plan, the Nagaland State has created requisite framework in terms of Institutional Arrangements/Policy Formulation for alignment with PM GatiShakti framework. Empowered Group of Secretaries (EGoS), Network Planning Group (NPG), and Technical Support Unit (TSU) have been constituted in the State comprising various departments like Power, Roads, Urban Development, Tourism, Transport etc. As on 13th June, 2023 out of 30 mandatory data layers, twenty-two (total/partial) have been integrated in the State Master Plan (SMP) platform. Data layers such has Forest, Eco sensitive zones, Village habitations, Economic areas, Roads, etc have been integrated.
  • As part of Special Assistance Scheme for the States under Part-II for the FY 2022-23, an amount of Rs 28.43 crores was disbursed for the projects mentioned
  • Modern Aggregation Centre at Longnak, Mokokchung District
  • Modern Aggregation Centre at Changtongya, Mokokchung District
  • Integrated warehouse and distribution center at Meluri, Phek District
  • PM GatiShakti Data center at Kohima
  • Modern Aggregation Centre at Pfutsero, Phek District
  • Five projects submitted as part of State Annual Action Plan have been mapped on the SMP. Development of Customised tools important for economic and social infrastructure planning and for decision making is under discussion with BISAG-N

  • To complement the PM GatiShakti NMP, the National Logistics Policy (NLP) was launched to address the components of improving efficiency in logistics services and human resource through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies. To bring a holistic focus on Logistics at State level, Nagaland State Logistics Policy is under final draft stage with State.
  • The State participated in the Fourth Regional Workshop of PM GatiShakti for North East Regional Workshop which was conducted on 24-25th March 2023 in Guwahati, Assam.
  • State has been regularly participating in zonal review meetings and interacts with DPIIT officials for better coordination on the adoption of PM GatiShakti.
  • The training and capacity building of Govt officers from the State have been done at BISAG-N, Gandhinagar
  • The meeting concluded with the following remarks from Ms Sumita Dawra, Special Secretary, Logistics, DPIIT, Govt. of India requesting the State on the following:

  • Use NMP/SMP for planning all upcoming infrastructure projects.

  • Improve data mapping and authenticity of data on the data layers mapped on SMP.
  • Focus on development of economic centres in the North East through appropriate infrastructure and logistics development.
  • Usage of SMP for Area Development Approach on the identified area
  • Identify critical infrastructure gaps and ensure they are taken up for connectivity projects.
  • Onboarding of social sector departments of the State in PM Gatishakti for Planning of social infrastructure
  • Leverage local remote sensing agencies / space agencies for development of geo-tagged data, under guidance of BISAG-N, Ahmedabad
  • Sensitizing and penetration of PMGS adoption at district level for effective area development planning, to improve both Ease of Doing Business and Ease of Living of citizens.
  • Annexture

    Background on ODOP

    The ODOP initiative is a visionary program aligned with the Hon’ble Prime Minister's vision of fostering inclusive development across all districts of India. The objective is to identify and promote a distinct product from each district, thereby creating a niche identity for them. By focusing on these chosen products, ODOP aims to drive holistic socio-economic growth and improve market accessibility.  Over 1000 products have been selected from all 761 districts of the country. The products are selected by the State Government in consultation with district administration.

    The ODOP initiative covers a wide range of products spanning textiles, agricultural produce, processed goods, pharmaceuticals, and industrial items. The aim is to promote and harness the diverse expertise present in different sectors and communities across the country. 

By identifying and addressing challenges throughout the supply chain, enhancing market reach, and providing dedicated support to producers, ODOP aims to transform districts into prominent market hubs for their chosen products. Through this comprehensive approach, ODOP is set to empower districts, promote entrepreneurship, and contribute to the overall economic growth and prosperity of the nation.

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