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    VKDL Group’s NPA Bazaar Strengthens India’s Distressed Asset Resolution Ecosystem Under the Leadership of V K Dubey
    Lok Sabha passes bill to authorise govt to permit banks to levy charges on UPI transactions
    Monetary Policy Statement, 2026-27 Resolution of the Monetary Policy Committee August 3 to 5, 2026
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    Lok Sabha passes Bankers' Books Evidence Bill to replace colonial-era law
    Sensex gains 152 pts in volatile session as RBI keeps policy rates unchanged
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August 6, 2026
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Distressed asset resolution integrates restructuring, insolvency advisory, funding facilitation and digital marketplaces for transparent financial recovery transactions.
The platform provides integrated advisory, management and transaction-facilitation services for Non-Performing Assets, stressed assets and distressed assets. Its services include NPA resolution, debt restructuring, One-Time Settlements, funding assistance, insolvency and bankruptcy advisory, asset reconstruction, financial restructuring and capital raising. Digital and offline marketplaces facilitate transactions involving distressed assets, receivables and related movable or immovable properties, supported by collaborations with banks, Non-Banking Financial Companies, Asset Reconstruction Companies, corporates and investors.
August 6, 2026
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Merchant discount rate framework may permit charges on notified UPI and digital payments through a government notification mechanism.
The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers.
August 6, 2026
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Neutral monetary policy stance continues as resilient growth and food-fuel inflation risks require close macroeconomic monitoring.
The Monetary Policy Committee retained the policy repo rate and continued the neutral monetary policy stance, citing the need to assess evolving growth-inflation conditions. Domestic activity was assessed as resilient, supported by consumption, investment, credit, manufacturing, services and exports, although global uncertainty, energy prices, supply-chain pressures, geopolitical developments and monsoon conditions remain risks. CPI inflation increased mainly because of food and fuel pressures, while underlying inflation remained moderate. The Committee considered that price pressures were not yet generalised and reaffirmed its commitment to align inflation with the target.
August 6, 2026
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Closing auction price discovery and a neutral monetary policy stance shaped equity market conditions amid lower crude prices.
The Closing Auction Session in the equity cash segment introduced an auction-based mechanism for determining closing prices of eligible shares with futures and options contracts, intended to make price discovery more transparent and robust. The Reserve Bank of India retained its neutral stance and left the benchmark policy rate unchanged, pending greater clarity on the inflationary effects of higher energy costs. Future policy decisions were stated to be data dependent.
August 6, 2026
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Monthly public accounts review records receipts, expenditure, tax devolution, interest payments, subsidies, and capital spending through June.
Consolidated monthly accounts up to June 2026 report total receipts of Rs.10,49,243 crore, comprising net tax revenue, non-tax revenue and non-debt capital receipts. Tax devolution transfers to State Governments total Rs.2,63,336 crore. Total expenditure is Rs.13,57,076 crore, including revenue expenditure of Rs.10,16,818 crore and capital expenditure of Rs.3,40,258 crore. Revenue expenditure includes interest payments and major subsidies.
August 6, 2026
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Illicit psychotropic drug manufacture triggered seizure, apprehensions, and investigation into planned trafficking under narcotics control law.
Illicit manufacture and trafficking of Alprazolam and Diazepam, psychotropic substances regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985, were detected at a clandestine facility. Searches recovered finished and intermediary substances, together with raw materials and reaction mixtures used in manufacture, and the goods were seized under the Act. The manufacturer and an intended buyer were apprehended, with material indicating a proposed transaction for further illicit trafficking. Preliminary investigation indicated prior involvement in illegal drug production and trafficking.
August 6, 2026
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Competition approval for hotel-sector consolidation covers share acquisitions and merger of Accor-branded hotel entities into InterGlobe Hotels.
Competition approval was granted for related share acquisitions and the merger of AAPC India, Caddie, Triguna, Srilanand Mansions, Techpark and Accent into InterGlobe Hotels. The combination involves entities jointly controlled by the Bhatia Family Group and the Accor Group, including hotel-owning and developing entities, hotel management and franchising operations, leasing activities, and captive consultancy and support services relating to Accor-branded hotels in India.
August 5, 2026
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Rupee appreciation followed unchanged monetary policy, lower crude prices, weaker dollar and expectations of orderly exchange-rate management.
The rupee strengthened after the central bank maintained its policy rate and neutral monetary-policy stance. Lower crude oil prices, a weaker US dollar and declining US Treasury yields supported investor sentiment. Earlier measures to attract capital inflows remained part of the framework supporting the rupee, while the central bank stressed its endeavour to preserve an orderly currency trajectory. Future movement was linked to geopolitical de-escalation, global risk sentiment and US economic data.
August 5, 2026
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Fiscal consolidation through revenue mobilisation and leakage control aims to reduce deficits while expanding capital expenditure capacity.
Tamil Nadu's Revised Budget Estimates for 2026-27 project a revenue deficit and fiscal deficit, with outstanding liabilities comprising public debt and public-account liabilities. Revenue mobilisation is proposed through improved tax administration, collection efficiency, closure of leakages, liquor-manufacturer privilege fees, and eligible Union grants. The strategy projects gradual deficit reduction to create room for capital expenditure, supported by expenditure reforms aimed at eliminating leakages, optimising expenditure, and improving service delivery.
August 5, 2026
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Political criticism of public office-holders raises debate over media accountability, personal remarks, and acceptable public discourse.
Political criticism followed a social-media post describing Maharashtra Deputy Chief Minister Sunetra Pawar as "gungi gudiya" in connection with a press interaction on law-and-order issues in Beed district. Congress representatives stated that the post was not a personal insult, had been deleted after adverse reactions, and was followed by an expression of regret. NCP representatives termed the expression inappropriate and stressed that the principal dignitary should conduct media interactions. Shiv Sena (UBT) representatives described the phrase as not unparliamentary and linked it to criticism of a guardian minister's public responsibilities.
August 5, 2026
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On-tap licensing for Urban Co-operative Banks enters public consultation through draft guidelines inviting stakeholder feedback.
Draft guidelines for 'on tap' licensing of Urban Co-operative Banks have been issued for public and stakeholder consultation. Comments and feedback may be submitted until September 05, 2026, through the designated online consultation facility or by written or email submission to the specified regulatory department.
August 5, 2026
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Prohibition on indirect Pakistan-origin imports targets alleged origin misdeclaration and UAE routing used to circumvent trade restrictions.
Import prohibition on goods originating in Pakistan applies to direct and indirect imports under the Foreign Trade Policy, 2023. Pakistan-origin dry dates routed through the UAE were allegedly declared as UAE-origin goods for import, and were intercepted under the Customs Act, 1962. Investigation indicated that the goods were first sent from Pakistan to Dubai, re-containerised, and then exported to India. A separate interception involved Pakistan-origin guggul resin allegedly declared as Somali natural resin and routed through Dubai.
August 5, 2026
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Neutral monetary policy stance keeps benchmark rates unchanged while inflation risks, liquidity management and consumer-protection reforms remain under review.
Monetary policy maintains the benchmark policy rate unchanged and retains a neutral stance, with future decisions guided by incoming data. The central bank remains committed to aligning headline inflation with its medium-term target while monitoring food, fuel and other input-cost risks. Surplus liquidity will be managed through two-way operations, and the regulatory framework for interest rates on advances is proposed to be harmonised and standardised across regulated entities to improve transparency and consumer protection.
August 5, 2026
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Export-only e-commerce inventory framework enables seller exports through registered exporters while requiring traceability, timely payments and domestic-diversion controls.
The export-only inventory framework permits eligible e-commerce entities to export through a registered Exporter-on-Record, which procures goods from Indian Sellers-on-Record against confirmed overseas orders and assumes export and destination-country compliance responsibilities. Inventory must be segregated, digitally traceable and cannot be diverted to domestic sale. The framework requires timely seller payments, visibility of overseas sales and shipment information, proportional pass-through of export rebates and refunds, annual compliance certification and digital records.
August 5, 2026
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Gold smuggling enforcement targets concealed foreign-origin gold, airport control evasion, and illicit railway transport under customs law.
Gold smuggling enforcement operations under the Customs Act, 1962 involved alleged concealment and unlawful movement of foreign-origin gold. At an international airport, an alleged syndicate used an airline employee to transfer gold received from arriving passengers outside Customs and immigration controls, with gold disguised as silver-coloured bracelets. A separate railway operation concerned gold concealed in a specially made cloth waist belt and intended for delivery to a jeweller. The actions addressed concealment, evasion of Customs controls, and illicit transport of foreign-origin gold.
August 5, 2026
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Digital bank-record evidence gains a technology-neutral framework through expanded admissibility, certified authentication, and regulated production of bankers' books.
The Bankers' Books Evidence Bill, 2026, modernises the evidentiary treatment of banking records by extending "bankers' books" to physical, electronic, digital, virtual and cloud-based records. It recognises electronic bank records as admissible evidence, allows production in physical or electronic form, and provides for standardised certificates authenticated by manual, digital or electronic signatures. The Bill also defines "special cause" for compelling bank officers to produce records or testify where the bank is not a party, and permits extension to specified financial-sector entities subject to conditions.
August 5, 2026
Show AI Summary
Closing auction price discovery and unchanged policy rates shaped volatile equity trading amid inflation and geopolitical uncertainty.
The Monetary Policy Committee retained the policy repo rate and neutral policy stance while seeking greater clarity on inflation risks from higher energy costs. Stock exchanges introduced the Closing Auction Session for eligible futures and options shares in the equity cash segment to determine closing prices through a more transparent and robust auction-based price-discovery mechanism. Equity markets showed volatile, limited gains amid geopolitical uncertainty, energy-price concerns, profit booking and the new mechanism's introduction.
August 5, 2026
Show AI Summary
Pakistan-origin import prohibition covers third-country routing, false origin declarations, forged documents, and trans-shipment arrangements used to evade restrictions.
The prohibition on direct or indirect import or transit of goods originating in or exported from Pakistan extends to goods routed through third countries and falsely declared as having another origin. Misdeclaration of country of origin, false descriptions, forged documentation, and trans-shipment arrangements may contravene that prohibition and invite action under the Customs Act, 1962. Dry dates declared as UAE-origin and Guggul resin declared as Somalia-origin were investigated as goods of Pakistan origin routed through Dubai.
August 5, 2026
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Foreign exchange stability measures support the rupee as policy continuity, capital inflows and global risk sentiment shape currency expectations.
Foreign exchange market movement reflected a rupee appreciation against the US dollar following the monetary policy decision to retain the repo rate and neutral stance. Market sentiment was supported by softer crude oil prices, weakness in the US dollar, lower US Treasury yields and foreign equity inflows. The monetary policy framework sought to support capital inflows and maintain an orderly rupee trajectory, with geopolitical developments and US economic data remaining relevant to near-term exchange-rate expectations.
August 5, 2026
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Money-laundering investigation examines alleged proceeds from chit fund operations following searches linked to a former company managing director.
A money-laundering investigation concerns alleged proceeds of crime arising from a multi-state chit fund operation associated with Welfare Building and Estates Pvt Ltd. The company is alleged to have collected investor deposits through investment schemes promising high returns before defaulting. Searches at premises linked to its former managing director form part of the inquiry into alleged laundering. The underlying alleged fraud had previously resulted in a CBI case and multiple police FIRs.

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Customs, DGFT & SEZ

Data on ECB/FCCB for the month of April 2012

June 14, 2012

Contents
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 I AUTOMATIC ROUTE*

 

ECB/ FCCB

Borrower

Equivalent Amount in USD

Purpose

Maturity Period (Appx)

1

ECB

Mainetti India Pvt Ltd., 

314,193

Rupee Expenditure Loc.CG 

8 Years 1 Month

2

ECB

Velan Valves India Private Limited

4,500,000

Import of Capital Goods

6 Years

3

ECB

Pengg Usha Martin Wires Pvt.Ltd.

2,105,676

Modernisation

4 Years 8 Months

4

ECB

Noble Natural Resources India Pvt. Ltd.#

20,000,000

Rupee Expenditure Loc.CG 

9 Years

5

ECB

Shahi Exports Pvt. Ltd.

20,000,000

Modernisation

9 Years 10 Months

6

ECB

Solarfield Energy Private Limited

11,000,000

Rupee Expenditure Loc.CG 

11 Years 3 Months

7

ECB

Piaggio Vehicles Pvt. Ltd.

17,850,000

Rupee Expenditure Loc.CG 

7 Years 4 Months

8

ECB

Flometallic India Ltd.

3,750,000

New Project 

5 Years 5 Months

9

ECB

Mach Aero Components Pvt. Ltd.

1,105,480

New Project 

7 Years 10 Months

10

ECB

Bando India Private Limited

7,800,000

Modernisation

5 Years 8 Months

11

ECB

JayShree Tea & Industries Ltd. 

5,000,000

Rupee Expenditure Loc.CG 

5 Years

12

ECB

Aarvee Denims & Exports Ltd.

5,000,000

Redemption of FCCBs

5 Years

13

ECB

John Energy Ltd

6,000,000

Modernisation

5 Years

14

ECB

Jacquard Fabrics (India)Pvt. Ltd.

500,000

Modernisation

6 Years 10 Months

15

ECB

Jacquard Fabrics (India)Pvt. Ltd.

500,000

Modernisation

6 Years 10 Months

16

ECB

Indo Baijin Chemicals Pvt. Ltd.

12,500,000

New Project 

7 Years 4 Months

17

ECB

Scania Commercial Vehicles India Pvt Ltd

16,694,942

Rupee Expenditure Loc.CG 

3 Years 11 Months

18

ECB

Haworth India Private Limited

5,000,000

Rupee Expenditure Loc.CG 

4 Years 10 Months

19

ECB

BTR Packaging Pvt. Ltd.

300,000

Rupee Expenditure Loc.CG 

4 Years 9 Months

20

ECB

Nippon Steel Pipe India Pvt.Ltd.

13,000,000

Import of Capital Goods

7 Years 6 Months

21

ECB

Nippon Steel Pipe India Pvt.Ltd.

13,500,000

Import of Capital Goods

7 Years 7 Months

22

ECB

Bhushan Steel  Limited

5,033,883

Import of Capital Goods

7 Years 2 Months

23

ECB

WNS Global Services Pvt. Ltd. #

7,000,000

Import of Capital Goods

3 Years 4 Months

24

ECB

Star Cement Meghalaya  Ltd.

12,200,000

New Project 

7 Years 9 Months

25

ECB

Abdos Labtech Private Limited

2,500,000

Modernisation

5 Years

26

ECB

Nucon Industries Private Limited

329,012

Modernisation

5 Years 1 Month

27

ECB

Eurecat India Catalyst Services Private

9,254,826

New Project 

5 Years 3 Months

28

ECB

IRB Ahmedabad Vadodara Super Exp Tollway

100,000,000

Road

7 Years 1 Month

29

ECB

Everest Industries Limited

12,000,000

Modernisation

4 Years 9 Months

30

ECB

Craftsman Automation Pvt.Ltd.

6,000,000

Import of Capital Goods

5 Years

31

ECB

Gulbarga Power Pvt. Ltd.

15,792,574

Rupee Expenditure Loc.CG 

13 Years 1 Month

32

ECB

Zahoransky  Moulds & Machines Pvt.L

394,814

New Project 

6 Years 1 Month

33

ECB

JSW Steel Ltd.

63,683,746

Import of Capital Goods

11 Years 7 Months

34

ECB

JSW Steel Ltd.

63,723,140

Import of Capital Goods

11 Years 8 Months

35

ECB

JSW Steel Ltd.

50,872,587

Modernisation

6 Years 2 Months

36

ECB

Rane Engine Valve Ltd.

5,000,000

Modernisation

5 Years

37

ECB

Behr- Hella Thermocontrol India Pvt. Ltd

460,617

Rupee Expenditure Loc.CG 

3 Years 8 Months

38

ECB

Liebherr CMCtec India Pvt. Ltd.

1,316,048

New Project 

4 Years 8 Months

39

ECB

Interlink Petroleum Ltd.  # 

1,000,000

Other

4 Years

40

ECB

Claris Lifesciences Ltd.

10,000,000

Modernisation

5 Years

41

ECB

RHI Clasil Ltd.

1,316,048

Modernisation

6 Years

42

ECB

Ambattur Developers Private Limited

6,000,000

Import of Capital Goods

4 Years 10 Months

43

ECB

Jindal Aluminium Ltd.

20,000,000

New Project 

10 Years 10 Months

44

ECB

Exedy India Ltd.

1,000,000

Rupee Expenditure Loc.CG 

4 Years

45

ECB

Sadbhav Engineering Ltd.

10,000,000

New Project 

10 Years

46

ECB

Taeyang Metal India Pvt.Ltd.

4,842,984

Import of Capital Goods

5 Years 4 Months

47

ECB

Bangalore Metro Rail Corporation Limited

250,000,000

Railways

18 Years 8 Months

48

ECB

Teva API India Ltd.

48,000,000

Modernisation

13 Years 3 Months

49

ECB

NTL Logistics Plus India Pvt. Ltd.

60,000

Rupee Expenditure Loc.CG 

3 Years 5 Months

50

ECB

Posco Maharashtra Steel Pvt. Ltd.

243,069,000

Import of Capital Goods   

8 Years 1 Month

51

ECB

Posco Maharashtra Steel Pvt. Ltd.

180,000,000

Import of Capital Goods

8 Years 1 Month

52

ECB

Three Bond India Pvt. Ltd.

1,200,000

Rupee Expenditure Loc.CG 

5 Years

53

ECB

Gindre India Components Pvt. Ltd.

171,086

Rupee Expenditure Loc.CG 

6 Years

54

ECB

Kobelco Cranes India Pvt.Ltd.

2,362,742

Import of Capital Goods

7 Years 1 Month

55

ECB

Polyhose India P. Ltd.

1,511,435

Import of Capital Goods

5 Years 7 Months

56

ECB

Meneta Automotive Components Pvt Ltd.

2,105,676

Rupee Expenditure Loc.CG  

4 Years 11 Months

57

ECB

Larsen & Toubro Limited

100,000,000

Rupee Expenditure Loc.CG 

6 Years 3 Months

58

ECB

Hyundai Sealtech Manufacturing Pvt.Ltd.

1,500,000

Import of Capital Goods

5 Years

59

ECB

Allied Refractory Products India Pvt. Lt

4,000,000

New Project 

8 Years

60

ECB

FEV India Pvt. Ltd.

105,284

Rupee Expenditure Loc.CG 

3 Years 1 Month

61

ECB

Samson Maritime Ltd. 

6,750,000

Import of Capital Goods

7 Years 1 Month

62

ECB

Refu Solar Electronics Private Limited

526,419

New Project  

3 Years 5 Months

63

ECB

IAC International Automotive India P. L.

8,500,000

New Project 

7 Years 9 Months

64

ECB

The Andhra  Pradesh Paper Mills Ltd

14,000,000

Modernisation

5 Years 9 Months

65

FCCB

3i Infotech Ltd.

130,000,000

Redemption of FCCBs

5 Years

66

ECB

Lanco Industries Ltd

10,000,000

Modernisation

5 Years

67

ECB

Monnet Power Company Ltd.

25,000,000

New Project 

8 Years 1 Month

68

ECB

Sunrise Containers Ltd

2,000,000

Rupee Expenditure Loc.CG 

5 Years

69

ECB

Sekisui Dljm Molding Pvt. Ltd.

360,000

Rupee Expenditure Loc.CG 

5 Years

70

ECB

Compact India Pvt. Ltd. #

111,502

Rupee Expenditure Loc.CG 

6 Years 9 Months

71

ECB

Renault Nissan Automotive India Pvt. Ltd

13,510,358

Rupee Expenditure Loc.CG 

5 Years

 

 

Automatic Route Total

1,620,984,073

 

 

* Based on Form 83 submitted for allotment of Loan Registration Number

# Clarification sought from the company for conformity with the end-use requirement, eligibility of the borrower and other parameter of ECB

 

II APPROVAL ROUTE*

1

ECB

MTU India Pvt. Ltd.

987,036

Modernisation

5 Years  11 Months

2

ECB

Bharat Forge Limited.

40,000,000

Redemption of FCCBs

5 Years  7 Months

3

ECB

Power Grid Corpn. of India Ltd

250,000,000

Power

14 Years  11 Months

4

ECB

Dana India Technical Centre Pvt. Ltd.

25,000,000

New Project 

5 Years  11 Months

5

ECB

Go Airlines (India ) Ltd.

795,070,921

Import of Capital Goods

8 Years  3 Months

 

 

Approval Route Total

1,111,057,957

 

 

 

 

Grand Total

2,732,042,030

 

 

Topics

Acts Income Tax