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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    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
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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
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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 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
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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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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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While Trump overhauls FEMA, Mississippi tornado survivors await assistance

May 21, 2025

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Tylertown, Mississippi, May 21 (AP) More than two months after a tornado demolished his Mississippi home, Brian Lowery still sifts through the rubble, hoping to find a tie clip his mother gave him, made from the center stone of her wedding band.

“I still have hope,” Lowery said.

He, his wife and 13-year-old son made it to safety before the tornado ripped apart their trailer home of 15 years during a severe weather outbreak in mid-March. But the recovery since has been slow and painful. Mississippi's request for federal aid is still pending before the Federal Emergency Management Agency, meaning badly needed assistance has not yet made it to his hard-hit community of Tylertown.

“I don't know what you got to do or what you got to have to be able to be declared for a federal disaster area because this is pretty bad,” Lowery said. “We can't help you because, whatever, we're waiting on a letter; we're waiting on somebody to sign his name. You know, all that. I'm just over it.” It is not unusual for weeks to pass before FEMA approves a declaration. President Donald Trump has pointed to these waits as a reason he is considering dismantling the agency, calling FEMA “very bureaucratic” and “very slow.” The wait offers a glimpse of what could be in store for communities around the country as the summer storm season arrives and FEMA is mired in turmoil. States including Kentucky, Missouri and Oklahoma have already been battered with tornadoes this week, setting the stage for more disaster requests to FEMA. And the Atlantic hurricane season is just around the corner.

FEMA is able to respond quite effectively in many ways, but “getting the resources to those communities after the fact has been slowed,” said Susan Cutter, a Carolina Distinguished Professor of Geography at the University of South Carolina and co-director of the Hazards Vulnerability & Resilience Institute.

In coming disasters, Cutter said, she anticipates seeing slower progress in getting needed resources to communities in a timely manner.

FEMA acting chief David Richardson has pushed back on claims that FEMA is ill-prepared for severe weather this summer. In an agencywide town hall last week, he said FEMA was “to some degree, to a great degree, ready for disaster season '25.” March storms left 7 dead and wrecked hundreds of homes In Mississippi, nearly 20 tornadoes tore through the state on March 14 and 15, leaving seven people dead and hundreds of homes destroyed or damaged. Republican Mississippi Gov. Tate Reeves asked the Trump administration for a major disaster declaration on April 1.

Such a declaration would allow access to an array of FEMA resources, including financial aid for individuals and for government agencies still removing debris and repairing infrastructure.

“We don't have a declaration yet. People are still hurting,” said Royce McKee, emergency management director for Walthall County, which includes Tylertown.

Walthall County was especially hard hit by the massive storm system that tore across multiple states. The storm spawned two significant tornadoes in the county, where four people died.

McKee said the county has sunk an estimated $700,000 into the cleanup, but it can't afford more. It has halted recovery operations while awaiting federal assistance.

“We need federal help, and we need it desperately, and we need it now,” said Bobby McGinnis, a Tylertown resident and firefighter. “I know President Trump said that — America first, we're going to help our American folks first. But we haven't seen the federal folks down here.” Requests for help come at a time of upheaval for FEMA Mississippi's request comes at a time of upheaval for FEMA. Its acting administrator, Cameron Hamilton, was recently ousted after he publicly disagreed with Trump's proposal to get "rid of FEMA.” Richardson, FEMA's new acting administrator, has committed himself to executing Trump's vision for the agency. He also previewed potential policy changes, saying there could be “more cost-sharing with states” and that FEMA would coordinate federal assistance “when deemed necessary." While Mississippi has been waiting, a similar major disaster declaration request out of Arkansas after the storms was initially denied. The decision was then appealed by Republican Gov. Sarah Huckabee Sanders and finally approved on May 13.

In Missouri, there are frustrations about the federal response to March storms In Missouri, the federal response to earlier storms is being criticized as residents pick up the pieces after a recent EF3 tornado. Packing winds of up to 150 mph (240 kph), it slammed into parts of St. Louis on Friday.

U.S. Sen. Josh Hawley, a Missouri Republican, told Homeland Security Secretary Kristi Noem on Tuesday that the need was urgent, and she responded by vowing to expedite Gov. Mike Kehoe's request for an emergency disaster declaration so the state can get money to clean up the ruble.

“That is one of the failures that FEMA has had in the past is that people who incur this kind of damage and lose everything sit there for months and sometimes years and never get the promised critical response that they think or that they believe they should be getting from the federal government,” Noem said.

After touring the damage Monday, Hawley began publicly demanding help and expressed frustration over the federal response in March, saying, “We cannot wait months. I'm not happy about the fact we're still waiting from all of that damage two months ago.” Mississippi lawmakers press federal officials about assistance Mississippi lawmakers continue to press for federal help. At a congressional hearing in early May, Republican Mississippi Rep. Michael Guest asked Noem to push forward the request.

“I would ask you if you could make sure that you could do everything to expedite that request,” Guest said. ”It is impacting my local jurisdictions with debris cleanup. It is impacting people as they seek to recover.” Republican Mississippi U.S. Sen. Cindy Hyde-Smith also asked Noem about FEMA assistance and the administration's new approach to the agency.

“President Trump has been very clear that he believes that the way that FEMA exists today should not continue,” Noem responded. “He wants to make sure that those reforms are happening where states are empowered to do the response and trained and equipped, and then the federal government would come in and support them and financially be there when they need them on their worst day.” (AP) HIG HIG

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