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    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
    VR LIVIN’s ‘THE FIRST’ Records Sale of 20 Villas Within Two Days of Launch
    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
    ED raids multiple locations in Keralam in hybrid ganja smuggling money laundering case
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    GIFT IFSC emerges as a strong and vibrant international banking hub, mobilises over $52.8 billion under RBI’s FCNR(B) Swap Facility, $11.62 bn in EC...
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    CBI Arrests CGST Additional Commissioner and Two others in Rs. 40 Lakh Bribery Case in Raigad, Maharashtra
    Haryana: SGST collections grow 29 pc in first 5 months of 2026-27
    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
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September 3, 2026
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NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
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Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
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Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
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Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
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Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
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Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
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Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
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Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
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Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
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Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
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Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
Show AI Summary
GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.

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Veterans speaking out on Trump administration's plans to cut VA's budget

March 5, 2025

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Norfolk (US), Mar 5 (AP) Stephen Watson served in the Marines for 22 years and receives care through the Department of Veterans Affairs for a traumatic brain injury. He supports President Donald Trump and adviser Elon Musk's cost-cutting program — even if it affects the VA.

“We're no better because we're veterans,” said Watson, 68, of Jesup, Georgia. “We all need to take a step back and realize that everybody's gonna have to take a little bit on the chin to get these budget matters under control.” Gregg Bafundo served during the first Gulf War and has nerve damage to his feet from carrying loads of weight as a Marine mortarman. He says he may need to turn to the VA for care after being fired as a wilderness ranger and firefighter through the layoffs at the US Forest Service.

“They're going to put guys like me and my fellow Marines that rely on the VA in the ground,” said Bafundo, 53, who lives in Tonasket, Washington.

The Trump administration's move to end hundreds of VA contracts — halted after public outcry — and ongoing layoffs are affecting the nation's veterans, a critical and politically influential constituency.

More than 9 million veterans get physical and mental health care from the VA, which is now being examined by Musk's Department of Government Efficiency.

The VA manages a USD 350 billion-plus budget and oversees nearly 200 medical centres and hospitals, many in Republican-led states and districts. Veterans have shown up at town hall-style meetings to voice their anger, and groups like the Veterans of Foreign Wars are mobilizing against cuts.

Veterans were much likelier to support Trump, a Republican, than Vice President Kamala Harris, a Democrat, in November's presidential election, according to AP VoteCast, a survey of the American electorate conducted in all 50 states. Nearly 6 in 10 voters who are veterans backed Trump, while about 4 in 10 voted for Harris.

Joy Ilem, national legislative director for the nonpartisan group Disabled American Veterans, said her group was studying how the ongoing cuts might affect care.

"You could lose trust among the veteran population over some of these things that have happened and the way that they've happened,” Ilem warned. “And we do fear damage to the recruitment and retention of hiring the best and brightest to serve veterans.” The White House said last week that it wants to slash USD 2 billion worth of VA contracts, which would affect anything from cancer care to the ability to assess toxic exposure. The department quickly paused the cuts following concerns about the impact on critical health services.

Meanwhile, more than 1,000 VA employees who served for less than two years were dismissed last month. According to Sen. Patty Murray, D-Wash., that included researchers working on cancer treatment, opioid addiction, prosthetics and burn pit exposure.

VA Secretary Doug Collins told Fox News Channel this week that the effort was focused on “finding deficiencies".

“Anything that we're doing is designed and will not cut veterans' health or veterans' benefits that they've earned,” he said.

In a Tuesday statement to The Associated Press, VA press secretary Peter Kasperowicz said the agency “is putting Veterans at the centre of everything the department does”.

“Every dollar we spend on wasteful contracts, non-mission-critical or duplicative activities is one less dollar we can spend on Veterans, and given that choice, we will always side with the Veteran,” Kasperowicz wrote.

Republicans have pointed out that the VA has rehired employees who were let go during an initial round of layoffs in February, such as those working for a crisis hotline. However, during a subsequent round of layoffs, the VA cut 15 other employees who were in jobs supporting the crisis line, including a trainer for the phone responders, according to congressional staff who are tracking the cuts.

The VA has long faced calls for reform The VA has been plagued for years by allegations of poor medical care and excessively long wait times. Investigators a decade ago uncovered widespread problems in how VA hospitals were scheduling appointments after allegations that as many as 40 veterans died while awaiting care at the department's Phoenix hospital.

A group of employees accused the department of retaliating against potential whistleblowers.

President Barack Obama, a Democrat, eventually put into place a programme allowing veterans to go outside the VA system to seek medical care. The Choice Programme was extended by Trump during his first term.

Richard Lamb, who was shot down twice in Vietnam as an Army helicopter crew chief, said the department should be “cut to the bone”.

Lamb, 74, said he broke vertebrae each time his helicopter was shot down. Decades passed, he said, before a private doctor — not the VA — found compression fractures and performed surgery.

“I'd be happy to see VA, not torn down, but cleaned up, cleaned out and recast,” said Lamb, who lives in Waco, Texas. “The VA is supposed to be a wonderful thing for veterans. It's not. It sucks.” Daniel Ragsdale Combs, a Navy veteran with a traumatic brain injury, strongly disagrees.

Ragsdale Combs, 45, suffered his injury while running to respond to an order on an aircraft carrier and striking his head above a hatchway. He receives group therapy for mental illness brought on by the injury but says he had heard those sessions might be canceled or reduced due to staffing shortages.

“I'm deeply concerned because the VA has been nothing but great to me,” said Ragsdale Combs, who lives in Mesa, Arizona. “I'm angry, upset and frustrated.” Lucy Wong relies on a team of VA doctors in the Phoenix area to treat her scleroderma, an autoimmune condition that attacks connective tissue. She said she developed the disease as a medical technician in the Navy in the 1980s, working with toxic chemicals and enduring extreme stress.

Driving is difficult. She worries that the VA will cut Uber rides to her medical appointments, among other things.

“I ask if Trump is cutting anything back here, and the reply is, Not yet,'" Wong said.

Josh Ghering, a former Marine from Parsons, Kansas, who served in Iraq and Afghanistan, said he had to fly to San Antonio for an appointment with a neurologist before he was medically retired for back issues, including herniated discs. He questioned why he couldn't get the same appointment closer to home.

“I think they're headed in the right direction,” Ghering, 42, said of DOGE. “But they're going to have to be more thorough with what it is they're doing, to make sure they're not cutting jobs that are needed.” Will service members be expected to accept VA cuts? The nation's service members have never been a political monolith — and the same holds true for their views on the VA. But the split between two Marines on opposite sides of the country raises a question not just about DOGE but about America's military: Who is expected to sacrifice? Watson, the former Marine in Georgia, sustained various injuries while serving, including a traumatic brain injury when a cable snapped and a crate fell on him. He said he's willing to accept fewer visits to his VA doctor and forgo other conveniences as a matter of service to the country.

“Many veterans who voted for Trump understood this was going to be his policy and are now screaming bloody murder because the axe is going to fall upon the VA,” Watson said. “And to me, that's just a little bit self-centred.” Bafundo, the Marine in Washington state, pushed back against the idea that all Americans are making a sacrifice when, as he sees it, it's really falling back "on the little guy".

America's billionaires won't be shouldering any of the burden, he argued, while Musk, who's the world's richest person, and others pay little, if any, taxes.

“If we're going to sacrifice, the wealthy need to sacrifice, too,” he said. “And, frankly, they don't.” (AP) PY PY

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