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    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
    National Financial Reporting Authority (NFRA) conducts sixth outreach programmes with focus on small and medium auditors under the theme “Creating a...
    CCI imposes monetary and non-monetary sanctions on Agro Input Dealers Association, Agro Input Welfare Association for indulging in anti-competitive co...
    India-Finland cooperation takes centre stage at circular economy forum
    CCI imposes penalty on Rekha Agencies and SS Marketing for indulging in anti-competitive conduct in respect of Himachal Pradesh Tender 2013 for the pr...
    US is set to impose 50% tariffs on $20 billion worth of Canadian products
    Rupee settles 3 paise higher at 95.71 against US dollar
    29 FDI Investments Worth ₹4,895.65 Crore Reported Under Revised Framework
    India and ADB sign $230 million loan to modernise water supply and sanitation in Chennai
    DGGI unearths clandestine pan masala and tobacco manufacturing network in Uttar Pradesh; 27 undeclared pouch-packing machines seized, evasion of about...
    Mission SAKSHAM: Scaling Capability through Co-operation - Keynote Address by Shri Swaminathan J, Deputy Governor at Mission SAKSHAM Programme for Dir...
    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
    India's forex kitty swells USD 9.9 bn to USD 716.9 bn
    Bengaluru airport: AERA slashes user development fee to Rs 300 for domestic passengers
    NUMR Inc. helps deliver Axis Bank's data-driven excellence in customer experience
    ED can't add old FIR to Enforcement Case Information Report to sustain PMLA proceedings: Delhi HC
    Rupee settles on flat note, 3 paise higher at 95.71 against US dollar
    VinFast India Partners with Federal Bank to Strengthen Dealer Financing Ecosystem
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    August 22, 2026
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    Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
    Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
    August 22, 2026
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    Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
    Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
    August 22, 2026
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    Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
    Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
    August 22, 2026
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    Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
    India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
    August 22, 2026
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    Bid rigging through pre-bid price information exchange triggered penalties, cease-and-desist directions, and individual liability for tender coordination.
    Bid rigging in a public procurement tender was established from pre-bid email exchanges of commercially sensitive price information between Rekha Agencies and SS Marketing. The concerted conduct in the tyre procurement tender contravened Sections 3(3)(d) read with 3(1) of the Competition Act, 2002. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised under Section 48, while proceedings against SS Marketing's official abated upon his death.
    August 22, 2026
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    Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
    Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
    August 21, 2026
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    Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
    Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
    August 21, 2026
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    Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
    Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.
    August 21, 2026
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    Climate-resilient urban water security modernises Chennai's supply and sanitation systems through ring-main infrastructure, digital monitoring, and safer sewer operations.
    Chennai Climate-Resilient Water Security and Sewerage Project modernises and expands water supply and sanitation infrastructure through a loan arrangement between the Government of India and the Asian Development Bank. Measures include new pipelines, upgraded pumping stations, performance-based utility operations, and a comprehensive ring-main system to improve water-pressure balance, distribution efficiency, reliability and climate resilience. Digital monitoring and advanced blockage-detection technology are intended to improve operational decisions, customer responsiveness and worker safety while eliminating hazardous manual sewer inspections.
    August 21, 2026
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    Capacity-based taxation targets undeclared pouch-packing machinery used for clandestine pan masala and tobacco production and untaxed clearances.
    Capacity-based taxation of pan masala and specified tobacco products is determined by the number, type and capacity of installed pouch-packing machines. Searches at interconnected manufacturing and trading premises detected unregistered operations using undeclared machinery for clandestine manufacture and clearance of pan masala, scented jarda and gutkha without payment of GST, HSNS cess and central excise duty. Finished goods, raw materials, packing materials and machinery were seized. The manufacturing firm's proprietor was prima facie identified as managing the operation and was arrested under the applicable cess and central excise laws.
    August 21, 2026
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    Technology risk oversight requires Urban Co-operative Banks to retain accountability while building shared and role-specific capabilities.
    Urban Co-operative Banks must strengthen digital and risk-management capabilities as technology dependence exposes them to cyber threats, fraud, service-provider failures and common-platform vulnerabilities. Outsourcing critical systems does not transfer the bank's responsibility for oversight, safeguards and continuity. Boards and senior management must retain sufficient knowledge to supervise external providers effectively. Mission SAKSHAM supports role-specific, continuous capability building through physical and online learning, while collective infrastructure and shared expertise can supplement individual institutional capacity.
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    Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
    Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
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    Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
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    Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
    Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
    August 21, 2026
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    Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
    India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
    August 21, 2026
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    Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
    User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
    August 21, 2026
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    Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
    Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
    August 21, 2026
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    Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
    Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
    August 21, 2026
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    Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
    Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
    August 21, 2026
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    Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
    Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.

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      News and Press Release

      34 FOREIGN DIRECT INVESTMENT PROPOSALS CLEARED

      January 31, 2008

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      Finance Minister, Shri P. Chidambaram has approved 34 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 18th January, 2008. The approval amounts to Rs. 2288.40 crore.  The proposals are related to Ministries/Departments,  namely, Chemicals & petro-chemicals, Commerce,  Health & Family Welfare, Industrial Policy & Promotion, Information & Broadcasting, Posts,  Telecommunications, Urban Development and Economic Affairs.  The major investment proposals pertain to the Ministries/Departments of Commerce, Information & Broadcasting, Telecommunications, Urban Development and  Economic Affairs.

      The details of the proposals approved are as follows:

      Sl. No.

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In crore)

      COMMERCE

      1.

      M/s. Crystal Ball Fashion Pvt. Ltd

       Induction of foreign equity upto 50% in a company propose to be engaged in Single Brand trading

      1.50

      2.

      M/s. ZF Lenksysteme GmbH, Germany

      To set up a Joint Venture company with a foreign equity of upto 74% to undertake manufacture of steering system for commercial vehicles as well as passenger cars.  

      0.74

      3

      M/s. Transmarket Group Research (India) Pvt. Ltd. Mumbai

      Induction of foreign equity in a company propose to undertake the activities of commodity trading

      3.1

      4

      M/s. Acumen Fund, USA

      Induction of foreign equity up to 36.37% in a company engaged in trading of items sourced from Small Scale Sector

      55.28

      INFORMATION & BROADCASTING

      5

      M/s. Vijay Television Pvt. Ltd. Chennai

      Increase in paid up capital and to undertake the activities of up-lining of non-news and current affairs television channels

      34.00 (approx)

      INDUSTRIAL POLICY & PROMOTION

      6

      M/s. Russell Square Holdings BV, Netherlands

      To set up a WOS to undertake the business of providing entire range of market and other related services.   

      0.40

      POSTS

      7

      M/s. ELBEE Express Private Limited, Mumbai

      Post-facto approval for FDI participation upto 2.25%  in a company engaged in the business of providing courier and logistics services

      No fresh inflow

      ECONOMIC AFFAIRS

      8

      M/s. Matrix Publicities and Media India Pvt. Ltd. Mumbai

      Conversion of operating company into operating cum holding company and to make downstream investment

      0.25

      9

      M/s. GS Strategic Investments Ltd., Mauritius

      Induction of foreign equity in an operating company and conversion of the operating company into a holding company for undertaking downstream investments

      180.00

      10

      M/s.  Neha International Ltd, Hyderbad

      Transfer of shares by way of share swap

      No fresh inflow

      11

      M/s. IL & FS Trust Company Ltd, Mumbai

      Accept contributions from the offshore fund into the Trust and to issue class B units and making investment in existing securities etc.

      290.00

      (Approx)

      12

      M/s. Radiant Infosystems Pvt. Ltd. Bangalore

      Transfer of shares by way of share swap

      No fresh inflow

      13

      M/s. Wisdom Global Enterprises Ltd, Mumbai

      Induction of foreign equity and  Conversion of operating company into  a holding company to make downstream investment

      200.00

      CHEMICALS & PETROCHEMICALS

      14

      M/s. Colorcon Ltd.,

      Deletion of divestment condition

      No fresh inflow

      INFORMATION & BROADCASTING

      15

      M/s. NDTV Networks LC, London

      conversion of operating company into operating-cum-holding company for making downstream investments

      19.38

      16

      M/s. Dish TV India Ltd.

      Induction of foreign equity by way of issue and allotment of shares and warrants convertible into shares within a period of 18 months

      0.25

      17

      M/s. UTV Software Communications Ltd.

      Issue of FCCBs. Induction of FDI in the company engaged in up-linking of non-news and current affairs channels need the approval of FIPB

      400.00

      COMMERCE

      18

      M/s. Signature Kitchens India Pvt. Ltd.

      Induction of foreign equity in a company engaged in trading of "Signature Kitchen" single brand products

      0.3850

      ECONOMIC AFFAIRS

      19

      M/s. Media Transasia India (P) Ltd.,

      Conversion of operating company into operating cum holding company, for downstream investment in publication of specialty magazine.

      No fresh inflow

      TELECOMMUNICATIONS

      20

      M/s. Global Assets Holding Corporation Private Limited, Mumbai

      Induction of foreign equity and conversion of operating company into operating cum holding company to make downstream investment in Telecom sector.

      580.00

      21

      M/s. Transcend Infrastructure Limited, Kolkata

      Induction of foreign equity in a company engaged in Infrastructure provider - Category-I  services

      0.15

      ECONOMIC AFFAIRS

      22

      M/s. Bonsai International Pvt. Ltd. Mumbai

       Induction of FDI upto 31.67% in an investing company

      4.56

      INFORMATION & BROADCASTING

      23

      M/s. B.A.G. Films & Media Limited, Noida

      Induction of foreign equity by way of issue of Foreign Currency Convertible Bonds (FCCBs) in a holding company having downstream investment in the companies to be engaged in up-linking news channels, non-news channels and FM Radio

      40.00

      24

      M/s. Russell Square Holding BV, Netherlands

      Induction of foreign equity upto 90% in a company engaged in event management activities. Proposal attracts Press Note 1 (2005 series)

      8.17

      ECONOMIC AFFAIRS

      25

      M/s. Mahindra Forgings Ltd., Pune

      Transfer of shares by way of share swap basis consequent upon the merger

      No fresh inflow

      INFORMATION & BROADCASTING

      26

      M/s. You Broadband Networks India Pvt. Ltd.

      Change in the status of operating company into an operating cum holding company for making downstream investments upto 49% in a company engaged in Cable network business

      No fresh inflow

      COMMERCE

      27

      M/s. Sampad Vikas Ltd, Kolkata

      Induction of foreign equity in a company engaged in the business of Tea production

      17.18

      28

      M/s. Daiichi Sankyo Company Ltd, Japan

      Induction of foreign equity upto 100% by way of acquisition and fresh induction in a company engaged in the manufacture of pharmaceutical products and formulations

      25.00

      ECONOMIC AFFAIRS

         29

      M/s. Fatpipe Network India Private Limited, Chennai

      Transfer of shares between the foreign collaborator and the Indian company  by way of amalgamation and also transfer of shares by way of share swap

      No fresh inflow

      30

      M/s. Lakecrest Ld, Cyprus

      Conversion of operating company into operating-cum-holding company to undertake downstream investment

      400.00

      31

      M/s. JSW Energy Ltd, Mumbai

      Post-facto approval for the FDI in an Indian company which has holding company operations in power sector

      No fresh inflow

      INDUSTIRAL POLICY & PROMOTION

      32

      M/s. Saraf Agencies Pvt. Ltd. Kolkata

      Change in the foreign collaborator in a company which has got approval for FDI upto 55% engaged in manufacture of Titanium products

      No fresh inflow

      URBAN DEVELOPMENT

      33

      M/s. Starlight Real Estate (ASCOT) Mauritius Ltd

      Induction of foreign equity from Starlight Investment UK into Augustus Avani Land Developers Ltd.   ( * )

       26.00

      INFORMATION & BROADCASTING

      34

      M/s. B.A.G. Films & Media Ltd, Noida

      Induction of foreign investment in a holding company having downstream investment in the companies to be engaged in up-linking news channels, non-news channels and FM Radio  

      2.05

      (*) Repatriation of investment before the completion of minimum lock-in period of 3 years in Orlanda Real estate India Ltd (rejected)

      2. The proposal of M/s. Hindustan Coca-cola Pvt. Ltd. has been recommended for the consideration of Cabinet Committee on Economic Affairs (CCEA).

      3. The following 4 (four) proposals have been recommended to be deferred:

      Sl.No

      Name of the applicant

      Particulars of the proposal

      1

      M/s. Daimler AG., Germany

      To set up a Joint venture company with a foreign equity of upto 60%  to undertake designing, manufacturing and selling of commercial vehicles .  Proposal attracts Press Note 1 (2005 series)    

      2

      M/s. Continental Air Express Pvt. Ltd. New Delhi

      Induction of foreign equity up to 60% in a company engaged in courier services

      3

      M/s. HT Media Ltd.

      Transfer of shares by way of share swap

      4

      M/s. Bycell Telecommunications

      To undertake activities of offering GSM based cellular telephone services under UAS License agreement all over India, and increase in paid up capital of the company.

      4. The following (3) proposals have been rejected:

      Sl.No

      Name of the applicant

      Particulars of the proposal

      1

      M/s. Astra Microwave Products Ltd, Hyderabad

      Treatment of only the OCB investment as FDI and to raise the FDI investment later up to 26% in  a company proposing to engage in  manufacture of licensed defence items

      2

      M/s. Flemingo Duty Free Shop Pvt. Ltd.

      Setting up of duty free shops  at Attari Railway Station  and Delhi Railway Station

         3

      M/s. Thuraya Satellite Telecommunications Company, PJSC, UAE

      To set up a JV with a foreign equity of up to 74% to undertake the activities of offering satellite-based mobile services

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