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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
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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
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    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
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    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
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    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
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    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
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    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
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    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
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    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
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    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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      All-party delegations meet leaders and diplomats from several countries to galvanize international action against terrorists

      May 30, 2025

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      Bogota/Copenhagen/Jakarta, May 30 (PTI) All-party parliamentary delegations on Friday met leaders and diplomats from several countries to galvanize international action against terrorists and decisively counter the tactics of those who perpetrate, support and sponsor cross-border terror activities against India.

      In Bogota, Congress MP Shashi Tharoor, leading an all-party delegation, elaborated India's position on terrorism and voiced his disappointment over Colombia offering condolences for the loss of lives in Pakistan following Indian strikes in response to the Pahalgam terror attack.

      Tharoor "reaffirmed India's stance on terrorism and expressed disappointment over Colombia's response which has offered condolences for the loss of lives in Pakistan, rather than sympathizing with the victims of terrorism in India," said BJP MP Tejasvi Surya, who is part of the nine-member delegation.

      "There can be no equivalence between those who attack and those who defend," he said in a social media post.

      Surya said India, under the leadership of Prime Minister Narendra Modi will continue to deliver strong responses to terrorism.

      The delegation met Colombia's Vice Foreign Minister Rosa Yolanda Villavicencio and conveyed India's firm policy of zero tolerance towards terrorism and its proactive approach to counter cross-border threats.

      "The Colombian side responded positively," the Embassy of India in Colombia said in a post on X.

      The delegation also called on former president Cesar Gaviria, the head of the Liberal Party - the largest single party in the Colombian Assembly - at his residence on Bogota. "He was strongly supportive of India's fight against terrorism and undertook to say so publicly as well," Tharoor said in a post on X.

      In Latvia, the all-party delegation led by DMK MP Kanimozhi Karunanidhi arrived on Thursday to convey India's resolute and proactive policy of zero tolerance towards terrorism. On Friday, Ambassador Namrata S. Kumar briefed the delegation on India-Latvia relations and Latvia’s role in the Baltics, the European Union, and the United Nations, the Indian Embassy in Riga said.

      The delegation, which arrived in Riga from Greece, will meet members of the parliament of the Republic of Latvia 'Saeima', high officials of the Ministry of Foreign Affairs, think tanks, academia and other stakeholders, the embassy said in a statement.

      In Copenhagen, the delegation led by BJP MP Ravi Shankar Prasad on Friday met the Chairman of the Foreign Policy Committee of Danish Parliament Christian Friis Bach and member Trine Pertou Mach.

      "During our discussion, we briefed the Danish representatives on the horrific Pahalgam terrorist attack and India's decisive response through Operation Sindoor, emphasizing that those responsible for terrorism will be held accountable. We all welcomed Denmark's unequivocal condemnation of terrorism, valuing the country's strong stance against this global threat," Prasad said in a post on X.

      In Sierra Leone, the delegation led by Shiv Sena MP Shrikant Eknath Shinde interacted with foreign diplomats to galvanize international action against terrorists and decisively counter the tactics of those who perpetrate, support and sponsor cross border terror activities against India, the High Commission of India in Freetown posted on X.

      "Whatever India is going through, it is not just your problem, it is our problem too...though not permanent we are members of UN Security Council..," Deputy Leader of the Opposition Daniel Brima Koroma told the Indian delegation during their meeting, according to the Indian mission.

      In Riyadh, the all-party Indian delegation, led by BJP MP Baijayant Jay Panda, concluded a “productive” visit to Saudi Arabia, reasserting India's zero-tolerance and ‘New Normal’ approach to terrorism during its interaction with a range of political and diplomatic leadership.

      “The visit reaffirmed the shared commitment of India-Saudi Arabia in the fight against terrorism,” said a post on X by the Indian Embassy in Riyadh.

      “We have very clearly conveyed India's position and the threat that we have faced from cross-border terrorism. India has a deep relationship with Saudi Arabia... Stands taken on terrorism are the same,” Panda told PTI Videos.

      The delegation later left Riyadh for Algiers, where members will highlight India's decisive and resolute stance on terrorism, particularly its fight against Pakistan-sponsored terrorism.

      "Taking Bharat’s message to the world! A warm welcome to all-party delegation of Members of Parliament led by Baijayant Jay Panda, upon their arrival in #Algiers today afternoon," the Indian mission in Algiers posted on X.

      Ambassador Swati V Kulkarni received the delegation at the airport along with Mourad Heraki, Director (Ceremonial) and Zineddine Goufi, Deputy Director (Asia Oceania), Ministry of Foreign Affairs, National Community Abroad and African Affairs of Algeria, it added.

      In South Africa, the delegation led by NCP MP Supriya Sule met with the leaders of the African National Congress (ANC) and informed them about India’s new resolve to respond to any incident of cross-border terrorism without drawing distinction between terrorists, their organizations or their state sponsors.

      The ANC reaffirmed its commitment to standing in solidarity with the people of India, emphasising that terrorism must be condemned in all its forms, the High Commission of India in Pretoria said in a statement on Friday.

      The delegation on Friday left for Ethiopia, carrying forth to the world India's strong message on zero-tolerance against terrorism.

      In Jakarta, the all-party delegation, led by JD(U) MP Sanjay Kumar Jha met with KH Ulil Abshar Abdalla, Chairman of the Nahdlatul Ulama Executive Board (PBNU), and Kholili Kholil, Committee Member of NU, the world's largest Islamic organisation and sought their unwavering support against violence and religious extremism.

      "As peace-loving countries with the largest Muslim populations with shared values of Unity in Diversity or “Binneka Tunggal Ika” practised as state policy as well as in daily lives, the leader of the delegation urged NU leaders to support India and condemn cross border terrorism to give a strong message to the world," the Indian Embassy in Jakarta said on X.

      "Condemning terrorism and the attack on innocent civilians, KH Ulil said he felt the pain of India & called for India and Indonesia to walk hand in hand to promote peace, economic development," it said.

      On Thursday, the delegation met with National Mandate Party (PAN) leaders who categorically stated that “religion and race cannot serve as a basis for exporting terrorism.” Tensions between India and Pakistan escalated after the Pahalgam terror attack, with India carrying out precision strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7.

      Pakistan attempted to attack Indian military bases on May 8, 9, and 10. The Indian side responded strongly to the Pakistani actions.

      The on-ground hostilities ended with an understanding of stopping the military actions following talks between the directors general of military operations of both sides on May 10. PTI NSA/NPK ZH ZH

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