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    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
    Commerce Secretary Shri Rajesh Agrawal Co-Chairs India-Brazil 8th Trade Monitoring Mechanism Meeting
    NPCI International and Uzbekistan’s NIPC Partner to Enable UPI Payments Across Uzbekistan via UZQR
    Flymore Aviation Expands Access to Aviation Education Through Affordable Mobile Learning App
    Rajnath to review performances of 16 defence PSUs with focus on indigenous tech, innovation
    SC dismisses SBI's plea challenging NCLAT order on PF, gratuity dues to ex-Jet Airways staffers
    Rupee rises 26 paise to close at 95.17 against US dollar
    India Has Solved Financial Access. Has It Solved Financial Confidence?
    Hyundai Capital Officially Launches Financial Services Operations in India
    Pinarayi Vijayan slams NCLT order on Subhash Chandra repayment plan
    Rupee falls 13 paise to 95.56 against US dollar in early trade
    CBN seizes 66.80 lakh psychotropic tablets in major inter-state pharmaceutical diversion case under Operation Vajra 2.0; one arrested
    DRI seizes around 18 Kg Amphetamine and MDMA in two operations as it intensifies crackdown on synthetic drugs; Four persons arrested
    India–Chile CEPA Negotiations Advance; Commerce Secretary Shri Rajesh Agrawal Meets Chilean Vice-Minister Paula Estévez Weinstein
    Sugar prices remain firm across India despite govt measures to check rise
    Keralam MVD to introduce Aadhaar OTP verification for 60 more services from Sept 21
    Dissenting creditors alleged family-linked entities cast 61.78 pc votes that cleared Chandra's insolvency plan
    Over 2.63L appear in NEET-PG; re-test announced for candidates at 2 Jaipur centres
    Delhi Lakshmi Yojana RD maturity set for July 2029, year of next Lok Sabha polls
    India emerges as key petrol supplier to Russia as refinery attacks disrupt fuel supplies
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August 31, 2026
Show AI Summary
National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.
August 30, 2026
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Gasoline trade amid refinery disruptions relies on sanctioned fleets and dark ship-to-ship transfers, alongside continuing fuel export restrictions.
Russian refinery disruption has increased gasoline imports and made India a significant supplier of gasoline to Russia. Indian supplies were principally linked to the Vadinar refinery, and increased Indian purchases of Russian crude may mean exported gasoline was produced from Russian crude. Russia has retained a gasoline export ban while domestic production remains disrupted. India-origin cargoes imported during August were carried on sanctioned fleets and involved dark ship-to-ship transfers, including transfers conducted with automatic identification system signals switched off.

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Convocation Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India at the 58th Convocation, Indian Institute of Technology, Kanpur, June 23, 2025

June 24, 2025

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1. Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

2. Today marks the culmination of an exciting chapter for the graduating students, where you have not only learnt new things – academic and extra-curricular – but have also had an enjoyable and memorable experience. I extend a very warm congratulations to all the graduating students. Please give yourselves a huge round of applause.

3. To the parents and guardians, this moment belongs as much to you as it does to your children and wards. Your innumerable sacrifices, continuous support, unconditional love and unwavering encouragement have laid the foundation upon which these young achievers now stand. I know this is an emotional and proud moment for you. I have myself experienced these emotions when my sons graduated – one from IIT Bombay and the other from IIT Guwahati. My warmest congratulations to you as your ward steps into a new chapter in life.

4. Dear graduates, it is a special day for you as you enter a new and exciting phase of life. It is an equally special day for me and doubly so. First, this institute has had a transformational impact on me, my life and my thoughts. I remember with nostalgia my years at IIT. I still vividly remember my first day at IIT when my mother came to drop me with another batchmate. I recollect my days at Hall III and then Hall I, the healthy rivalry between Hall II and Hall III, phatta cricket, bulla, the various celebrations at Red Rose Restaurant on the campus and Chung Fa restaurant in the city, movies at L7, DEC 10 of which we were so proud, the iconic library, Culfest and the many friends that I made and treasure till date. The steel trunk which carried my belongings to IIT and which my loving wife has preserved till date is still with me. I still have my Wilson tennis racket, with which I religiously played every evening at the clay courts on campus. IITK has a special place in my heart. This convocation ceremony is even more special as I did not attend our convocation ceremony; in fact, we did not have a proper convocation ceremony, perhaps the only batch not to have it. So, it’s an honour to be back here after thirty-six long years in a new and privileged role and be a part of the convocation ceremony today. Thank you, IIT, for this honour.

5. Times have changed a lot since I graduated. But there are certainly lessons which endure time. As a fellow-alumnus, roll number 85213, who has experienced life after campus, I will speak about four learnings from my journey.

Learning for Life

6. Many of you would have got your dream jobs. Others, who plan to pursue further studies, would get them soon. With a degree from a prestigious institute and a good job in hand, please don’t think that you have arrived. The moment you think you have arrived, you will stagnate. The moment you believe you know everything, you will stop growing.

7. This is just the beginning, only the first step. The degree has only laid a solid foundation and will take you thus far. You will need to build from here. You will need to learn when you change sectors, move across organisations within a sector, take up different roles within an organization and even within the same role in an organisation. Technology is advancing at a lightning speed. What you learnt yesterday would be outdated tomorrow as new ideas and tools emerge daily.

8. I can assure you that the institute has prepared you well for your life ahead. It has not only imparted you with knowledge which will be of immense use but, more importantly, equipped you with the most important tool – the tool of self-learning.

9. Like other IAS officers, I worked in diverse fields like urban management, land resources, industries, power, health, taxation, banking, finance, etc. Many of them were general management but many were highly technical and specialized, which had a steep learning curve. The IITK emphasis on basic sciences and core engineering subjects, its importance to the fundamentals of a subject, its priority to deriving the formulae rather than merely memorizing and applying them, its attention to problem-solving from first principles, and various other methods of problem solving have held me in good stead. IIT gave me the necessary tools for self-learning. I am sure it has given you too the same tools.

10. So, continue your quest for knowledge. Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is knowledge which will keep you ahead of others. Its importance cannot be over-emphasized. I urge you all, as Stephen Covey said, to continuously sharpen your saw and cut the grass under your feet.

Question the status quo

11. My second learning pertains to the period between 2003 and 2006, when I was working in the United Nations. I was managing a project to improve productivity in the hand tools clusters in India. We hired a Total Quality Management expert for some of our interventions. He had long and diverse experience across organisations.

12. He challenged the forging units there to reduce the time taken in changing a die from about eight hours to less than an hour. All of them including the most advanced, productive and efficient forging units vehemently denied the possibility of reducing the time. When he failed after many days of trying to convince them to improve, he suggested some changes including installation of a video camera. This was tried in a unit. These small changes reduced the time to five hours. When asked, the supervisor, apart from other things, explained that the work started on time, as scheduled; no one was late; no one took an unscheduled tea break; all required equipment were pre-arranged and kept ready for use; there was no wastage of time. The small changes and videography did the trick as everyone was being watched. What followed was a series of improvements or what are called kaizens, not only in the exchange of dies, but also various other processes – forging, grinding, electroplating, packaging, etc, as every process was questioned. We ended up reducing costs by about 10%.

13. I learnt to question the status quo. I learnt that there is always scope for improvement. This helped me improve efficiency in various organisations and departments that I worked in. It helped in reducing processing time of files. I reduced turnaround times for applications. It helped me make changes in laws, rules and procedures for the benefit of citizens and government alike, as I questioned the status quo.

14. As Albert Einstein famously said, "The important thing is not to stop questioning." When you question the status quo and ask questions, you open the door to new ideas and fresh perspectives. It is fuel for innovation; it drives you to explore, experiment, and create something better. So, no matter where you are in life or your career, never stop questioning the status quo and improving.

Pursue virtuous Karma

15. The third learning pertains to my tenure as Secretary, Department of Personnel in the Government of Rajasthan in 2007-08. Promotions from the state civil service to the IAS were plagued with disputes and court cases. For almost about 20 years, no one was promoted to the IAS. My predecessors did not take up this issue as they thought it would be an exercise in futility as some aggrieved officer will approach the doors of the judiciary. When I was given responsibility for this department, I took up the gauntlet. I studied all the disputes and judicial pronouncements meticulously; decided on claims of seniority and promotion, without fear or favour; finalized and published the seniority lists; and after spending months on this mammoth exercise, sent the proposals to UPSC for promotion. Just when we were about to convene the meeting for promotion, one officer again approached the court and got a stay. Months of my hard work was brought to nought. Even though many officers commended me for the hard work and getting the matter so close to finalization, I was disappointed.

16. I had to leave for Princeton for my masters within a few days and could not pursue the case in the courts. After I returned, I was put in a different department. In a few years, the court lifted the stay. I was asked if I would be interested in giving finishing touches to the work I had initiated. Once bitten, twice shy, I did not take up the challenge this time. The work was completed by another officer. In recognition of his efforts, he was conferred with the state award for civil service.

17. I realized I did not follow my karma as I feared failure. I realized I needed to follow my karma boldly and decisively without bothering about the results.

18. Without going in to details of my journey thereafter, today, as I look back, I can confidently say that it is karma that largely determines outcomes and results. It is the path that one chooses that broadly determines the destination. Today, I appreciate how true Steve Jobs was when he said, "You can't connect the dots looking forward; you can only connect them looking backward." Right now, you may not fully grasp how your karma - each late-night lab session, each frustrating bug, and each decision that you take - will impact your journey. You may not appreciate, how delayed gratification, the hallmark of all great leaders, will deliver bigger success over the longer term for the instant rewards foregone. But trust me, over time, the dots will connect and it will be in large measure due to your karma.

Trust

19. My last learning is from the student days in IIT, when we were always short of money and under debt. Food at the mess was as good as it can be. We relied heavily on the hostel canteen. A samosa at that time costed 35 paise and a bottle of Thums Up 2 rupees and 25 paise. The canteen was managed by a person called Lala. Lala was loved by everyone. He would serve us till late in night and very generously gave us credit. Even outside hostel, we got credit from the juice vendor, the shops in Shopping Centre, etc. This may not be surprising. Lala knew us, recognizing us as hostelers. Other vendors too recognized us as students from the campus. What was surprising though was that we got credit even from some shopkeepers in Kanpur, who did not know us at all. Why did these shopkeepers give credit to us? It is because of their trust in the IIT students.

20. It is because people do business with people they trust. Trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at workplace - between the CEO and the employees, or between a company and its consumers.

21. It is trust in a person that makes him a leader; it is trust which makes people follow a leader. Integrity and ethics are paramount to develop trust. It is not easy to gain trust. To earn trust, a leader must have the courage to take difficult decisions. He must act in the interest of the employees and other stakeholders. He must be willing to accept responsibility. He must lead by example. He must possess the humility to learn from his mistakes. He must be just, transparent and respectful. Trust takes time to build. But it is easy to lose trust. To be a successful person, a successful leader, graduating students, try to gain trust and having gained it, preserve trust.

Your time to shine

22. To conclude, dear graduating students, as you leave this campus today, have confidence in yourself. Dream big, but more importantly, act on those dreams. Make IIT Kanpur proud. Make your parents proud. Make India proud. But most importantly, make yourselves proud - proud by living lives of character, ethics and humility; lives filled with purpose, service and impact. As you step into tomorrow, carry with you the spirit of this institution, carry with you the love of your families, and carry with you the dreams of a billion Indians who believe in your potential.

23. Your journey of transformation began here at IIT Kanpur. Now, transform the world as leaders who are trustworthy; who continue learning for life; who question the status quo and who pursue virtuous karma.

24. May God bless you with all the very best in your journey ahead.

25. Thank you.

26. Jai Hind.

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