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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
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September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
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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.
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
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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.
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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.
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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.
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September 3, 2026
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Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
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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.
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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.
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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.

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Caste census alone won't suffice, conduct socio-economic survey as well: Siddaramaiah tells Centre

April 30, 2025

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Bagalkote (Karnataka), Apr 30 (PTI) Karnataka Chief Minister Siddaramaiah on Wednesday insisted that the Centre should conduct a socio-economic survey as the caste census alone will not suffice.

In a major decision, the Centre on Wednesday announced that caste enumeration will be included in the forthcoming census exercise in a 'transparent' manner.

Opposition parties, including the Congress, have been demanding a nationwide caste census, making it a major election issue, and some states like Bihar, Telangana and Karnataka have conducted such surveys in their states.

Karnataka carried out a 'social and educational survey' covering 94 per cent of the state population. After nine years of the exercise since 2015, the then Backward Class Commission Chairperson Jayaprakash Hegde submitted the report to the chief minister in February 2024.

Amid internal differences over the caste census report, a special meeting of the state cabinet that met on April 17, 2025, to discuss it, ended inconclusive, without any major decision.

Speaking to reporters here, Siddaramaiah said, "We (Congress) had said in our poll manifesto that a socio-economic and caste census should be conducted. I don't know whether they would do just a caste census or a socio-economic survey as well. I will react after going through it (Centre's decision)." The CM said a socio-economic survey was necessary for social justice.

"They (Centre) have said they would do a census and caste census. Socio-economic survey is very important. If we have to do social justice, then a socio-economic survey has to be done," he added.

When he was reminded that he faced criticism for tabling the caste census at a cabinet meeting held recently, the chief minister said he had told all the ministers to give their opinion.

"After the ministers submit their opinion in writing, we will present it in the cabinet and discuss the socio-economic survey report," Siddaramaiah added.

Later in a statement, the CM said his government wholeheartedly welcomes the decision of the central government to conduct a caste census along with the population census.

"On this occasion, I urge the central government to conduct a social, economic and educational survey along with the caste census. I believe that the Centre will complete this process along with the caste census," he added.

The CM recalled that his government not only conducted a caste census, but also conducted a survey of social, economic and educational conditions. Based on this data, an attempt has also been made to revise the current reservation policy and increase its limits.

According to him, the basic purpose of the caste-based social, economic and educational survey done by his government was to formulate a scientific reservation policy.

The union government should note that the Supreme Court has been emphasising the need for such a survey every time cases related to reservation came up for hearing, Siddaramaiah pointed out.

He added that when he was the Deputy CM in the Dharam Singh government, he had taken the decision to form a permanent Backward Classes Commission and decided to conduct a social, economic and educational survey along with caste.

"For various reasons, it was not implemented and I had to become the chief minister of the state again to implement that decision," he explained.

He congratulated Congress leader Rahul Gandhi, who has been fully supporting the decision to increase the reservation limit along with the caste census and making it a national programme of his party and promoting it across the country.

"The prime minister may not agree with the fact that he took the decision to conduct a caste census today due to Rahul Gandhi's pressure and relentless efforts, but the country knows it," Siddaramaiah said.

Conducting a caste census often leads to caste conflicts and divides society. It is a welcome development that the BJP and the governments led by it, which have been criticising for years that the caste census is a plan to divide Hindu society, have finally understood the social significance of the caste census, he noted.

"Caste is a reality in the Indian social system. It is a self-deception to say that there is no caste. We have to try to destroy it by accepting the reality of caste. I strongly believe that caste destruction is possible only by eliminating economic and social inequality," Siddaramaiah opined.

According to him, the socio-economic and educational survey that Karnataka had conducted is ready, but the state unit of BJP is opposing it citing various reasons.

Based on the survey, the Karnataka government has been trying to revise the reservation and increase the current limit of 50 per cent, the chief minister said.

He requested PM Modi to strictly reprimand the BJP leaders from Karnataka for obstructing the Congress government's efforts.

"The fact that the prime minister has now taken up our caste census programme in the same way that he criticised our party's five guarantee schemes and finally made it his party programme is a testament to the pro-people policies and programme of the Congress party," the CM said.

He underlined that the caste-based social, economic and educational survey conducted by the Karnataka government is a perfect model and the state government is ready to assist and cooperate the Centre in this regard. PTI GMS KH

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