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    Business Nextgen Finance Raises Rs 215 Crore in Equity to Accelerate MSME Lending
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September 3, 2026
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MSME secured lending equity capital, subject to regulatory approval, supports expansion without management-control change in operations.
Business Nextgen Finance Private Limited, a non-deposit taking non-banking financial company registered with the Reserve Bank of India, has raised Rs 215 crore in equity capital to expand secured credit for micro, small and medium enterprises. The transaction received prior Reserve Bank of India approval. The capital base will support secured lending scale-up, geographic expansion, technology investment and wider access to formal credit in underserved markets. The investment does not involve a change in management or day-to-day control.
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September 3, 2026
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Conversational AI account management enables businesses to access payment information, settlement support, refunds, and payment links through WhatsApp.
RAY is a conversational AI account manager on WhatsApp that enables businesses to access payment information, support, and operational actions through messages or voice notes. It can provide payment summaries, analyse payment activity, monitor settlement status, generate payment links, and issue refunds. The AI assistant is designed to proactively identify payment-health issues, flag settlement events, recommend actions, and use merchant-specific context to support payment management without dashboard navigation.
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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.
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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.
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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.
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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.
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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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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.
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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.
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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.
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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.
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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.

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Official Amendments to Lokpal and Lokayuktas Bill, 2011

January 31, 2013

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Press Information Bureau

Government of India

Cabinet

31-January-2013 15:59 IST

The Union Cabinet has approved the proposals submitted by the Department of Personnel & Training for moving official amendments to the Lokpal and Lokayuktas Bill, 2011 as reported by the Select Committee of Rajya Sabha.

The Lokpal and Lokayuktas Bill, 2011 was passed by the Lok Sabha on 27th December, 2011. The Bill was taken up for discussion and passing in the Rajya Sabha on 29.12.2011. Discussions remained inconclusive. Thereafter, the Rajya Sabha adopted a motion on 21.05.2012 to refer the Bill to a Select Committee of the Rajya Sabha for examination and report.

The Select Committee submitted its report to the Rajya Sabha on 23.11.2012. The Select Committee has, in its Report, made recommendations suggesting amendments to Clause 3(4), 4(1 )(e), 14(1)(g), 14(1)(h), 20(1), 20(2), 20(3), 20(5), 20(6), 20(7), 20(8), 23, 25, 37, 46, 63-97 and Part-II of the Schedule. The Committee has also recommended consequential amendments in other provisions of the Bill as may be necessary.

Significantly, the Committee has recommended to do away with Part-III of the Bill which deals with setting up of the Lokayukta in the States. The Committee has recommended replacement of Part-Ill of the Bill with a new Section 63 which provides for setting up of the institution of Lokayukta through enactment of a law by the State Legislature within a period of 365 days from the date of commencement of the Act. Government has decided to accept this recommendation.

Some of the other important recommendations made by the Committee and decisions taken by the Government on them are as follows:

(a) In clause 3(4) of the Bill (dealing with disqualifications for becoming Member of Lokpal), the Select Committee has recommended that the words "connected with any political party" may be replaced by the words "affiliated with any political party", so as to overcome the ambiguity associated with the word "connected with any political party'". Government has decided to accept this recommendation.

(b) In clause 4(1 )(e) of the Bill (composition of the Selection Committee for selection of Lokpal), the Select Committee has recommended that the fifth member of the Selection Committee (i.e., eminent jurist) may be nominated by the President on the basis of recommendation of the first four members of the Selection Committee (viz.. Prime Minister, Speaker (Lok Sabha), Leader of Opposition (Lok Sabha) and Chief Justice of India). Government has decided to accept this recommendation.

(c) The Select Committee has recommended exclusion of bodies and institutions receiving donations from the public from the purview of Lokpal. Since bodies receiving donations from the public were also covered in the original Lokpal Bill, 2011 and the Department related Parliamentary Standing Committee had also endorsed this inclusion and had additionally, recommended the inclusion of entities receiving donations from foreign sources under the Foreign Contributions Regulation Act (FCRA), Government has decided not to accept this recommendation and seek an official amendment in the Bill as reported by the Select Committee. However, having regard to Section 10(23BBA) of the Income Tax Act (regarding exemption of income of bodies /authorities established under Central or Provincial Act for administration of public religious or charitable trusts or endowments or societies for religious or charitable purposes registered under Societies Registration Act), Government has decided to exempt only such bodies or authorities established, constituted or appointed by or under any Central or State or Provincial Act providing for administration of public religious or charitable trusts or endowments or societies for religious or charitable purposes registered under the Societies Registration Act.

(d) In clause 20(1) of the Bill, the Select Committee has recommended that the Lokpal should be given the power to order an investigation straightaway (without first ordering a preliminary inquiry) in case Lokpal finds that a prima facie case exists. Government has decided to accept this recommendation subject to the modification that the Lokpal should, before coming to a conclusion that there exists a prima facie case for entrusting the matter for investigation, call for the explanation of the public servant and only then decide whether there exists a prima facie case for ordering investigation.

(e) The Committee has recommended that in clause 20(2) of the Bill, the seeking of comments from the public servant during the preliminary inquiry should not be mandatory and has accordingly suggested the addition of the word "may" in the said clause. As the affording of an opportunity to the public servant and to the government/competent authority at this stage, would help clear doubts in several cases and would substantially reduce the number of cases going for regular investigation. Government has decided to oppose this recommendation of the Select Committee and move an official amendment for the purpose. Similar recommendation of the Select Committee to dispense with opportunity of hearing to the public servant before ordering regular investigation by the Lokpal in clause 20(3) of the Bill, is also proposed not to be accepted.

(f) The Select Committee has recommended that the power to grant sanction for prosecution of public servants could be shifted to the Lokpal in place of the Government. The Select Committee has also recommended that Lokpal may be required to seek comments of the competent authority and the public servant before taking such decision. Government has decided to accept this recommendation.

(g) The Select Committee has recommended a number of amendments in the Bill with a view to strengthening the Central Bureau of Investigation (CBI), including;-

(i) the setting up of a Directorate of Prosecution headed by a Director of Prosecution under the overall control of Director, CBI,

(ii) the appointment of the Director of Prosecution on the recommendation of the Central Vigilance Commission,

(iii) maintenance of a panel of advocates by CBI, other than Government Advocates, with the consent of the Lokpal for handling Lokpal referred cases,

(iv) transfer of officers of CBI investigating cases referred by Lokpal with the approval of Lokpal,

(v) provision of adequate funds to CBI for investigating cases referred by Lokpal, etc. Government has decided to accept all these recommendations except one. i.e. seeking approval of Lokpal for transfer of officers of CBI investigating cases referred by Lokpal, as it would, in Government's view, affect the smooth functioning of the CBI.

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