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    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
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    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
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    August 17, 2026
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    RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
    RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
    August 17, 2026
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    Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
    PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
    August 17, 2026
    Show AI Summary
    Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
    Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
    August 17, 2026
    Show AI Summary
    FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
    Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
    August 17, 2026
    Show AI Summary
    Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
    High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
    August 17, 2026
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    Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
    The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
    August 17, 2026
    Show AI Summary
    SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
    SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
    August 17, 2026
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    FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
    The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
    August 16, 2026
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    Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
    Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
    August 16, 2026
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    Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
    Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
    August 16, 2026
    Show AI Summary
    Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
    India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
    August 16, 2026
    Show AI Summary
    LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
    Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
    August 16, 2026
    Show AI Summary
    Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
    Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
    August 15, 2026
    Show AI Summary
    Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
    Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
    August 15, 2026
    Show AI Summary
    Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
    FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
    August 15, 2026
    Show AI Summary
    Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
    Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
    August 15, 2026
    Show AI Summary
    Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
    FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
    August 15, 2026
    Show AI Summary
    Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
    Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
    August 15, 2026
    Show AI Summary
    Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
    Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
    August 15, 2026
    Show AI Summary
    Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
    Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.

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      Master Every Moment, The all-new BMW X3 launched in India

      January 18, 2025

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      Mr. Vikram Pawah, President and CEO, BMW Group India with the all-new BMW X3 New Delhi, 18th January 2025.

      • Monolithic SUV Proportions: Longest, Tallest and Widest Car in its Segment.

      • New-Age Design with reimagined Kidney Grille with BMW Iconic Glow and Fully Adaptive LED Headlights.

      • Completely Updated Interiors with newly designed Sport Seats, BMW Luxury Instrument Panel and Largest end-to-end Panorama Glass Roof in its Segment.

      • New Digital Character with BMW Curved Display, BMW Interaction Bar, BMW Intelligent Personal Assistant.

      • Best-in-Class Technology and Driver Assistance Systems such as Head-up Display, Augmented 3D- View, Active Cruise Control, BMW Drive Recorder, Interior Camera and more.

      • Powerful Petrol and Diesel Engines in conjunction with BMW xDrive.

      The all-new BMW X3 was launched in India on the second day of the Auto Expo 2025. Locally produced at BMW Group Plant Chennai, this Sports Activity Vehicle (SAV) will be available in the country in both petrol as well as diesel powertrains.

      The all-new BMW X3 can be booked at BMW dealerships across India and at www.bmw.in. Deliveries will commence from April 2025.

      Over two decades, the BMW X3 has reigned supreme as the best-selling premium model in its class, globally. It was the BMW X3 that first established the SAV segment in the premium midsize class and it plays a key role in the global success story of BMW X models. First-generation BMW X3 was the first vehicle to offer the BMW xDrive intelligent all-wheel-drive system. Now in its fourth-generation avatar, the all-new BMW X3 makes its way to India with dominant road presence, completely redefined interiors and best-in-class technology.

      Mr. Vikram Pawah, President and CEO, BMW Group India said, “With the launch of the all-new BMW X3, modernity, presence, and sporting flair have reached unprecedented heights. As the fourth generation of the iconic Sports Activity Vehicle, the X3 embarks on a new era. Now even bigger than before, it has reinvented itself with a reimagined design, unparalleled luxury and a new digital character. But some things don’t change - the versatile all-new BMW X3 delivers outstanding all-terrain performance, power and efficiency. Adventure is calling out louder than ever!” The car is available at an ex-showroom price of – The all-new BMW X3 xDrive20 M Sport - INR 75,80,000 The all-new BMW X3 xDrive20d M Sport - INR 77,80,000 *Price prevailing at the time of invoicing will be applicable. Ex-showroom prices inclusive of GST (incl. compensation cess) as applicable but exclude Road Tax, Tax Collected at Source (TCS), GST on Tax collected at source, RTO statutory taxes/fees, other local tax cess levies and insurance. Price and options are subject to change without prior notice. For further information, please contact the local authorised BMW Dealer.

      The car is available in following paintworks – Dune Grey Metallic, Alpine White, Brooklyn Grey Metallic, Individual Tanzanite Blue and Black Sapphire Metallic and the following upholstery options: Veganza Espresso Brown and Veganza Calm Beige.

      Service Inclusive and Service Inclusive Plus further reduce cost of ownership. Customers can choose from a variety of service plans according to duration and mileage. The packages cover Condition Based Service (CBS) and maintenance work with plans starting from 3 yrs / 40,000 kms, package extension available up to 10 yrs / 2,00,000 kms. An option to extend the warranty program up to 10 years is also available.

      Thanks to BMW India Financial Services, customized and flexible financial solutions are designed as per individual requirements. Customers can experience unparalleled convenience and savings with BMW 360° finance plan. Customers can discover the joy of owning the all-new BMW X3 with BMW 360° at a monthly instalment starting at just INR 77,999 per month, wherein additionally, they have complete peace of mind owing to the assured buyback at the end of tenure. Further, the purchase can be enhanced and customized by financing BMW Service Inclusive, BMW Secure and Extended Warranty packages too.

      The all-new BMW X3 A new design language for the exterior helps to give the fourth generation BMW X3 an almost monolithic overall appearance. The exterior design is characterised by expansive surfaces and precise contours. It’s dimensions – Length: 4,755 mm and Wheelbase: 2,865 mm – make it the longest car in its segment and 47 mm longer than the outgoing X3. With a width of 1,920 mm and a height of 1,660 mm, the all-new X3 is also the widest and tallest car in its segment. The front end exudes great presence courtesy of its upright stature and, most notably, the large, split BMW kidney grille. BMW Iconic Glow with its contour lighting, which forms a continuous line around each of the two kidney elements and combines with the dynamic light carpet, is offered as standard for the first time in this segment and highlights the new design to particular effect. A new structure for the interior of the kidney grille comprising vertically and diagonally arranged bars brings another fresh touch. The brand’s signature twin headlights also appear in reinterpreted form. L-shaped, overlapping light sources lend a menacing look to the front end of the all-new X3. Adaptive LED Headlights with cornering light functions plus blue design detailing is offered as standard resulting in peak performance and safety in low-visibility conditions. The adaptive LED lights are based on a projector lamp setup, offering much better performance than the traditionally used reflector lights. The car’s sporty silhouette features an elongated bonnet and a long wheelbase as well as a rising window graphic and a reinterpreted Hofmeister kink. The large wheel arches have a subtly squared-off outline in typical BMW X model style. The all-new BMW X3 also comes with flush-fitting door handles. The familiar BMW X proportions acquire a sporting flavour thanks to the long roofline extending deep into the rear end. The new split rear lights have a double L-shape.

      M Sport package, which is offered as standard, intensifies the car’s dynamic aura with features such as extra-large air intakes at the front, black bars for the BMW kidney grille, M-specific side skirts, M High-gloss Shadowline trim and a striking rear apron with integral diffuser element. The standard 19-inch M light-alloy wheels also form part of the M Sport package, whose bespoke design and equipment features add to the model’s eye-catching looks at the same time as optimising airflow and aerodynamic balance.

      An expressive design and high-quality materials characterise the interior of the all-new BMW X3. The highly minimalist design lends the interior a particularly clean and modern look. The progressive and sophisticated ambience inside the all-new BMW X3 goes hand in hand with generous amounts of space and modern versatility for everyday use, leisure activities and trips away. Passengers in the rear, in particular, benefit from a noticeable increase in kneeroom and improved ease of entry. The fresh interpretation of the familiar BMW X cockpit design is shaped by the driver-oriented BMW Curved Display and the striking geometry of surfaces and innovative design features. The fully digital screen grouping is composed of a 12.3-inch information display and a 14.9-inch control display. Other new design features include the standard BMW Interaction Bar integrated below the control display with control panels for the airflow and for switching on hazard warning lights, as well as the light elements in a contrasting colour that can be found in the centre console and in the front section of the door trim in both the front and rear. These form the basis for a dramatic lighting effect that further accentuates the three-dimensional character of the cockpit design. The all-new X3 also comes with a head-up display as standard, the only car in its segment to do so. The Luxury Instrument Panel, together with the modern surface geometry and intricate stitching pattern, creates a progressive look and a homely atmosphere inside the all-new BMW X3.

      The newly designed M Steering Wheel now comes with flatbottomed rims as well as control buttons providing haptic feedback. It features the familiar three-spoke design with a discreet centre marking in the 12 o’clock position. Standard shift paddles are available for manual interventions in the eight-speed Steptronic transmission’s gear selection process. The all-new Sports Seats now come with active seat ventilation, lumbar support and backrest width adjustment as standard. The new Sport Seats are lapped in Vegan Leather ‘Veganza’ made with sustainable materials. The largest-in-segment Panoramic Glass Sunroof gives an exceptionally elegant appearance and creates a light and airy feel inside the cabin. Travel & Comfort System, offered as standard, enables users to connect their devices to the car for a seamless entertainment experience. Rear windows also get roller sunblinds for extra privacy and protection from direct sunlight. The best-in-class Harman Kardon surround sound system with 15 speakers and 750 watts of audio power provides an intense musical feast for the ears.

      Thanks to unrivalled BMW TwinPower Turbo technology, the petrol and diesel engines meld maximum power with exemplary efficiency and offer spontaneous responsiveness even at low engine speeds. The 2-litre 4-cylinder in-line petrol engine of the BMW X3 20 xDrive produces an output of 190 hp and maximum torque of 310 Nm at 1,500 – 4,000 rpm. The car accelerates from 0 -100 km / hr in just 7.8 seconds. The 2-litre 4-cylinder in-line diesel engine of the BMW X3 20d xDrive produces an output of 197 hp and a maximum torque of 400 Nm at 1,500 – 2,750 rpm. The car accelerates from 0 -100 km / hr in just 7.7 seconds. As part of the M Sport package, customers also get the sport boost function for exceptionally rapid bursts of speed as well as the sport plus mode for most dynamic handling characteristics. Both petrol and diesel variants of the all-new X3 come with a 48V mild hybrid setup as standard which significantly improves performance as well as efficiency. The 48V mild hybrid technology results in remarkably instantaneous response to the slightest movement of the accelerator – when pulling away and also when putting in a sudden burst of speed – as well as more comfortable operation of the Automatic Start / Stop function.

      Adaptive Suspension with electronically controlled dampers is also offered as standard. It automatically adjusts damper response to the prevailing driving situation and current driving style, with a choice of two settings depending on the My Mode selected. This means Sport Mode activates optimal damper responses for dynamic handling, creating a noticeable contrast to the more comfort-oriented damper setting in the other My Modes. Adaptive Suspension combines excellent handling with supreme driving safety and allows the vehicle to be effortlessly controlled up to the limit. This has the effect of maximising not just the comfort and agility of the all-new BMW X3, but also its handling precision.

      The all-new BMW X3 comes with the latest version of BMW iDrive with QuickSelect to provide intuitive, easy control. Its home screen shows vertically arranged function icons on the same level. The QuickSelect feature allows functions to be activated directly without having to enter a submenu. The new BMW iDrive is geared squarely to touch and voice control. It is based on the latest BMW Operating System 9, which also paves the way for a customisable selection of additional digital services. The all-new BMW X3 offers the best and latest of BMW ConnectedDrive services with BMW Digital Premium.

      MyBMW App functions include popular options for keeping an eye on the current vehicle status at all times. The innovative BMW Digital Key Plus services turn any smartphone into a car key and can be transferred up to 4 additional users, along with their personal vehicle settings. One can remotely lock / unlock and configure top speed, engine power, audio and more. Wireless Apple CarPlay® / Android Auto for smartphone opens up access to a range of functions and apps. In addition, customers can use the MyBMW app to generate BMW Digital Key Plus, which turns a smartphone into a digital vehicle key. It will enable customers to physically open the doors when unlocking them this way. If the Digital Key Plus is activated, it’s also possible to perform automated parking manoeuvres via smartphone. My Modes provide for a customizable driving and interior experience.

      The spread of BMW Connected Drive and Driver Assistance Systems that support comfort and safety are more extensive than ever. The all-new BMW X3 now comes with Driving Assistant Plus as standard which includes some best-in-class features like Active Cruise Control (with Stop&Go Function), Lane Departure Warning, Blind Spot assistant and much more. Parking Assistant Plus offers the highest degree of technology and accessibility to smart parking systems in the segment with features such as fully automated parking with surround view camera and BMW Reversing Assistant along with BMW Drive Recorder.

      BMW EfficientDynamics includes features such as 8-speed Steptronic Automatic Transmission, Auto Start-Stop, ECO PRO mode, Brake-Energy Regeneration, Electronic Power Steering, 50:50 Weight Distribution and many other innovative technologies.

      BMW xDrive, the intelligent all-wheel drive technology, monitors the driving situation and is quick to respond to ensure maximum traction, agility and vehicle stability. Electronically controlled ‘Automatic Differential Brakes/Locks’ (ADB-X), extended ‘Dynamic Traction Control’ (DTC), Hill Start Assist and Hill Descent Control help to conquer every terrain.

      BMW Safety includes eight airbags, Attentiveness Assistance, Dynamic Stability Control (DSC) including Cornering Brake Control (CBC), electric parking brake with auto hold, side-impact protection, electronic vehicle immobilizer with crash sensor and child seat mounting.

      If you have any queries, please contact: BMW Group India Abhay Dange, Director, Press and Corporate Affairs Cell: +91 9910481013; Tel: + 91 124 4566600; Email: [email protected] Rohneet Naik, Product and Technology Communication, Press and Corporate Affairs Cell: +91 9899965668; Tel: + 91 124 4566 655; Email: [email protected] Internet: www.bmw.in Facebook: https://www.facebook.com/bmwindia Twitter: https://twitter.com/bmwindia YouTube: https://www.youtube.com/user/bmwindia Instagram: https://www.instagram.com/bmwindia_official (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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