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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
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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
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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.
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.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.

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MoSPI organized a National Workshop on “Using Alternate Data Sources and Frontier Technologies for Policy Making” during 5-6 June 2025

June 7, 2025

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Need of the best policy which blends both traditional and alternative data sources, says Prof. Ajay Kumar Sood, PSA to GoI

Need for institutionalized hybrid data ecosystem which has equal place for traditional & alternate data sources: Prof. Abhay Karandikar, Secretary, DST

Alternate data sources can be used in real time to supplement traditional data sources for policy making: Dr. Saurabh Garg, Secretary, MoSPI

The Ministry of Statistics and Programme Implementation (MoSPI), in collaboration with NITI Aayog and the World Bank as knowledge partner, conducted a two-day National Workshop on ‘Using Alternate Data Sources and Frontier Technologies for Policy Making’ at Bharat Mandapam, New Delhi during 5-6 June, 2025.

The National Workshop concluded with a Valedictory Session on 6 June, 2025.  The Valedictory Session was graced by Prof. Ajay Kumar Sood, Principal Scientific Advisor (PSA) to GoI as the Chief Guest; Prof. Abhay Karandikar, Secretary, D/o Science and Technology; Dr. Saurabh GargSecretary, MoSPI and Shri P.R. Meshram, Director General, MoSPI.  The two-day workshop was attended by over 450 participants from central ministries, state governments, international organisations including the World Bank, academic and research institutions, and private sector entities.

In his address, Prof. Ajay Kumar Sood, Principal Scientific Advisor to GoI and the Chief Guest of the event emphasized that alternate data sources and frontier technologies are increasingly becoming critical for policy making. These high frequency indicators are more dynamic and offer timely insights, enabling policies to be more agile and responsive. While traditional data sources reflect where we have been, the alternate data sources indicate where we are heading. He added that though alternate data sources provide real time information at a much granular level, they cannot replace tradition data sources. He emphasized the need for the best policy which blends both traditional and alternative data sources. He highlighted various use-cases where alternate data sources have been effectively used. He stressed on the need for collaboration between Government, academia, researchers, industry and international organizations for effective use of new technologies. He also called for ethical deployment of AI and said that data security and privacy concerns cannot be compromised. Further, he asserted that the development of techno-legal framework for Digital Public Infrastructure is a gift of India to the World.

Prof. Abhay Karandikar, Secretary, D/o Science and Technology in his address remarked that the policy making process is a complex exercise which involve gathering of data, consultation with stakeholders and drawing insights. AI/ML has facilitated timely processing of data for designing actionable policies. In this age and time, challenge is not to collect data but how to make sense of the data. The real challenge lies in addressing issues relating to data privacy, data security, regulatory framework, and institutional readiness. He emphasized on the need for institutionalized hybrid data ecosystem which has equal place for both traditional and alternate data sources.  

Dr. Saurabh Garg, Secretary, MoSPI, in his address emphasized on the need of fostering collaboration with various stakeholders for developing a robust statistical system to address the data needs for policy making. He opined that as survey data becomes available with a time lag; alternate data sources can be used to supplement traditional data sources for policy making in real time. While quoting the United Nations Fundamental Principles of Official Statistics, he emphasized that for statistical purposes best combination of the four data sources, namely surveys, censuses, administrative records and alternate data sources may be drawn with quality and timeliness along with limiting cost and respondent burden. He expected that in next 3-6 months, MoSPI will be able to implement some of the use cases that have been identified to harness alternate data sources and the application of frontier technologies.  He thanked World Bank for conceptualizing and NITI Aayog for collaborating with MoSPI in organizing this workshop and expressed that India will be at the forefront of integrating alternate data sources and frontier technologies in the National Statistical Frameworks.

In the welcome address, Shri P.R. Meshram, Director General (Data Governance) expressed gratitude to NITI Aayog, World Bank, and other participants for their active involvement during the course of two-days event. He added that the workshop has not only deepened our understanding of the challenges in integration of alternate data sources in the statistical system of the country, but also helped charting out the solutions to the challenges.

The key highlights of the four technical sessions on the subjects, viz, AI and Data Science for Official Statistics; Mobile Phone Data for Tourism Statistics; Geo-spatial Data for Sampling, Ocean Accounting and Data Dissemination and Scanner data for CPI compilation held during Workshop were also discussed during the valedictory session along with key takeaways. Some of the salient points of the technical sessions are as under:

(i)  AI and Data Science for Official Statistics:

Technical sessions on the subject started with setting the context for use of AI and data science in official statistics and identifying key stakeholders. Way forward for National Statistics Office considering the stage it is in i.e. from pilot stage to production stage was discussed during the session. Shri Abhishek Singh, CEO India AI and Ms Debjani Ghosh, Chief Architect, Frontier Tech Hub, NITI Aayog, Shri Ankit Bose, Head AI, NASSCOM, Prof. Balaraman Ravindran, IIT-Madras, Mr. Richard Campbell, UK ONS; and Mr. Thomas Danielewitz, Ms. Malar Veerappan, Ms. Shreya Dutt from World Bank were among the key speakers.

(ii)  Mobile Phone Data for Tourism Statistics:

Technical Sessions on the subject focused on discussion to devise a methodological framework using mobile phone data for tourism statistics tailored to Indian needs and covered relevant issues like data privacy and regulatory challenges. Use-cases from other countries for tourism, urban mobility and infrastructure assessment were discussed during the technical session. Shri Safi A. Rizvi Advisor, NDMA, Mr. Siim Esko, International Project Development Lead, Positium, Ms. Esperanza Magpantay, Senior Statistician, International Telecommunication Union, Ms. Titi Kanti Lestari, Atma Jaya University, Indonesia, Mr. Asit Kadyan, D/o Telecommunication, GoI and Mr. Sagar Mathur, Vice President, Airtel were among the key speakers.

(iii)  Geo-spatial Data for Sampling, Ocean Accounting and Data Dissemination:

Technical Sessions on Geo-spatial Data for Sampling, Ocean Accounting and Data Dissemination of the workshop highlighted the transformative potential of geospatial technologies in enhancing official statistics, with a focus on updating sampling frames in urban areas, improving data collection, integration, and dissemination. The latter part of the technical session was devoted for exploring the application of geospatial data in ocean accounting. The session featured enriching presentations and discussions by Mr. Richard Campbell, Deputy Director, UK Office for National Statistics; Ms. Kate Hess, Solution Engineer, ESRI; Shri Srikant Shastri, Chairperson, Geospatial Data Promotion & Development Committee; and Ms. Anija Shukla, Environment Specialist, World Bank, Ms. Rashmi Verma, Co-Founder, MapMyIndia along with experts from NRSC, INCOIS, NCCR and various academic and research institutions. Speakers demonstrated advanced geospatial tools integrated with AI techniques for feature extraction, change detection, and spatial stratification, showcasing use cases that illustrated the value of GIS-AI convergence for dynamic visualizations, real-time dashboards, and evidence-based policymaking.

(iv)  Scanner data for CPI compilation:

Technical sessions on the subject covered concepts and methodologies related to scanner data, web scraping techniques, requisite IT infrastructure and other available alternative data sources for integration in Consumer Price Index (CPI). Key speakers in the session were Mr. Federico Polidoro, World Bank; Mr. Luigi Palumbo from Bank of Italy, Prof. Himanshu from JNU, Dr. Aditi Chaubal from IIT Bombay, Shri Anand Agarwal from V-Mart, Ms. Sonu Shah from Nielsen IQ and many others from industry and academic organisations. Sessions provided valuable insights for accelerating MoSPI’s ongoing efforts for integration of alternative data sources, particularly scanner data and e-commerce data in CPI compilation methodology.

The workshop concluded with the vote of thanks by Dr. Ashutosh Ojha, DDG, MoSPI. He expressed gratitude to the Chief Guest, other dignitaries, participants from Multilateral agencies, industries, academia, researchers as well as officers from both central and state governments for gracing the event.

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