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    IDFC FIRST Bank secures its first international rating with Investment Grade from S&P Global Ratings
    DRI busts illegal drug manufacturing facility in Jewar, UP; 30 kg drugs seized and two persons arrested
    UCO Bank launches IFSC Banking Unit at GIFT City
    Banking sector has key role to play as India on way to become 3rd largest economy: Gujarat CM
    India's exports to US rise 12.85 pc in Jul; shipments to China jump 64.57 pc: Govt data
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    CBI ARRESTS CGST SUPERINTENDENT IN BRIBERY CASE
    The cumulative exports (merchandise & services) during April-July 2026-27 is estimated at US$ 316.42 Billion, as compared to US$ 279.63 Billion in Apr...
    Unlimit Mobile Ties Up with ICICI Bank Canada, RBC Royal Bank to Add Mobile Connectivity Benefits to Student GIC Journey
    Standard Chartered Accelerates India's GCC Growth with its Global Banking Expertise and 25 Years of GCC Experience
    IFSCA Grants Nexent Capital GIFT City Investment Banking License
    India's exports rise 19.63 pc to USD 44.24 bn in Jul; trade deficit widens to $31.98 bn
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    PMS Bazaar Collaborates with NSDL Database Management Limited (NDML Accreditation Agency) to Expand Access to SEBI Accredited Investor Certification
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    National Company Law Tribunal (NCLT) Launches e-Inspection and e-Certified Copy Services
    The Government of India to launch the Central Bank Digital Currency (CBDC)-based Direct Benefit Transfer (DBT) in the Union Territories of Chandigarh ...
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August 14, 2026
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International investment-grade issuer ratings support expanded foreign-currency funding, trade finance, correspondent banking and cross-border financial market access.
IDFC FIRST Bank's inaugural international investment-grade issuer credit ratings, with a stable outlook, are expected to improve access to international funding markets and global financial counterparties. The rating is intended to support standby letter of credit lines, foreign-currency funding through its GIFT City International Banking Unit, mobilisation of FCNR(B) deposits, correspondent banking relationships and cross-border trade finance. Strong capitalisation, improving profitability, stable asset quality and a granular retail funding profile underpin the outlook.
August 14, 2026
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Clandestine psychotropic drug manufacturing faces enforcement targeting precursor chemicals, concealed laboratories, illicit production networks and trafficking operations.
Enforcement action against clandestine manufacture of psychotropic substances led to the detection of a residential drug-production facility. Searches recovered amphetamine and intermediary forms, precursor chemicals, reagents, raw materials, and manufacturing equipment. Field testing indicated the presence of amphetamine, a psychotropic substance regulated under the Narcotic Drugs and Psychotropic Substances Act, 1985. The recovered apparatus and materials indicated illicit manufacture, while preliminary investigation pointed to short-term, intermittently operated facilities intended to conceal production activities.
August 13, 2026
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International banking unit expands cross-border financing, trade finance and foreign-currency service access through GIFT City operations.
UCO Bank has launched an International Financial Services Centre Banking Unit at GIFT City to provide permitted international banking services. The unit offers trade finance, external commercial borrowings, foreign-currency loans, loan syndication, treasury services and other permitted financial services. It serves Indian corporates, exporters, importers, financial institutions, overseas businesses and other eligible customers requiring cross-border financing and access to global financial markets. FCNR(B) deposits are also offered through the unit.
August 13, 2026
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Last-mile credit access is prioritised through timely lending, wider beneficiary coverage, digital support and stronger fraud vigilance.
Banking-sector participation is emphasised through last-mile credit access for MSMEs, women entrepreneurs, rural artisans, small farmers and other underserved beneficiaries. Banks are urged to expedite government-scheme applications, maximise coverage and use technology for timely financial support. Industrial-policy assistance and incentives cover startups, SC/ST entrepreneurs, persons with disabilities and first-generation entrepreneurs. Greater coordination, expanded village banking access, and vigilance against cyber fraud and mule accounts are also prioritised.
August 13, 2026
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Merchandise trade growth saw rising exports to major markets alongside increased imports and continuing United States trade-pact negotiations.
India's merchandise trade data records increased July exports to the United States and China, alongside growth in imports from both markets. Exports to Singapore, the United Arab Emirates, the Netherlands, Germany, South Africa, Tanzania, Australia, Malaysia, Sri Lanka, Italy and Vietnam showed positive growth, while July exports declined for the United Kingdom, Bangladesh, Saudi Arabia and Nepal. Imports also increased from Russia, Korea, Singapore, Germany, Oman, Malaysia, Taiwan and Brazil. India and the United States are negotiating a trade pact amid an additional United States tariff on India.
August 13, 2026
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GST transport documentation enforcement addresses freight movement of metals without valid e-way bills and invoices under applicable rules.
GST enforcement action led to the seizure of copper and aluminium ingots transported by freight train without valid e-way bills and invoices. The metals were found in three train wagons during inspection of parcel cargo. Further proceedings are to be undertaken under applicable GST rules concerning movement of goods without prescribed transport documentation.
August 13, 2026
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Merchandise trade deficit widens as import growth outpaces exports despite strong petroleum, electronics and engineering shipments.
Merchandise trade in July 2026 saw exports rise 19.63 per cent and imports increase 17.52 per cent, widening the trade deficit to a six-month high. Petroleum products, electronics, engineering goods and marine goods supported export growth, while crude oil and several commodity and capital-goods categories increased imports. During April-July 2026-27, faster import growth widened the cumulative merchandise trade deficit compared with the corresponding prior-year period.
August 13, 2026
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Bribery allegations in GST enforcement prompted arrest after alleged payment demand to avoid a tax-liability notice.
Bribery allegations involving GST enforcement led to the arrest of a CGST Superintendent after a complaint alleged that payment was demanded from a private company to avoid issuance of a tax-liability demand notice and to close the matter. A trap operation resulted in the public servant being apprehended while allegedly accepting part of the demanded bribe, and the amount accepted was recovered. Searches were undertaken, and investigation remained ongoing.
August 13, 2026
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Trade performance shows rising merchandise and services exports, but faster import growth expands the overall trade deficit.
India's combined merchandise and services exports and imports increased in July 2026 and April-July 2026-27, while the overall trade deficit widened. Cumulative exports were estimated at US$ 316.42 billion and imports at US$ 365.85 billion, resulting in a trade deficit of US$ 49.43 billion. Merchandise exports, non-petroleum exports, and exports excluding petroleum and gems and jewellery grew, led by petroleum products, electronic goods, engineering goods and chemicals. Services trade recorded a cumulative surplus of US$ 69.17 billion.
August 13, 2026
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Student GIC referral programmes integrate connectivity credits with funding verification and post-arrival banking arrangements for eligible international students.
Referral arrangements connect mobile connectivity benefits with the Student Guaranteed Investment Certificate application journey. Applicants may access an online portal through a referral link, submit documents, complete know-your-customer verification, and fund the GIC from permitted Indian bank accounts in no more than two transactions. After arrival, students may activate the GIC account and open a linked bank account for receipt of GIC transfers. Eligible verified applicants receive non-cash mobile credits usable only against mobile bills, subject to a cap on the bill portion payable through credits.
August 13, 2026
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Global Capability Centre banking support connects offshore and onshore operations to simplify financial management and enable cross-border expansion.
Global Capability Centre banking support is positioned around connected offshore and onshore banking, international network access, digital banking platforms, and expertise in treasury centres, cross-border corporates, and evolving GCC operating models. The approach seeks to simplify financial operations and support GCC expansion across global markets. India's GCC ecosystem is characterised as a leading global capability hub, with capability centres evolving into strategic enterprise hubs requiring support for operational and financial complexities across markets.
August 13, 2026
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Investment banking registration enables regulated cross-border offerings, listings, debt transactions and capital-market advisory through GIFT City.
IFSCA registration under the IFSCA (Capital Market Intermediaries) Regulations, 2025 authorises Nexent Capital IFSC Private Limited to operate as an investment banker from GIFT City. Permitted activities include management of initial and follow-on public offerings, SPAC and secondary listings, depository receipt issuances, debt capital-market transactions, and other capital-market advisory mandates. The firm proposes to provide transaction structuring, listing-readiness, execution and post-listing capital-markets support for companies seeking capital raising and listing opportunities through GIFT City's exchanges.
August 13, 2026
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Merchandise export growth was driven by petroleum, electronics, engineering and marine goods, while rising imports widened the trade deficit.
India's merchandise exports increased in July, while imports also rose and widened the trade deficit. Export growth was attributed to higher overseas shipments of petroleum products, electronics, engineering goods and marine goods. Exports and imports both recorded growth during the April-July fiscal period, and exports to West Asian countries increased in July.
August 13, 2026
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EXIM operations at international seaport to commence after customs clearance, bonded-area establishment, and temporary highway connectivity.
Vizhinjam International Seaport is scheduled to commence EXIM operations after Customs clearance, issuance of Customs notifications, establishment of a Customs-bonded area, and temporary connectivity to NH-66. The port had previously handled transshipment operations. A proposed transfer of a stake in the port concessionaire to a foreign shipping company remains under committee examination and requires Central Government consideration of strategic and security aspects.
August 13, 2026
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Renewable energy reliability requires storage, grid readiness and ancillary service markets alongside competitive clean-power procurement.
Renewable energy procurement is shifting beyond lowest tariffs towards dependable, dispatchable and affordable clean power, assessed through capacity value, balancing capability and system economics. Storage-backed renewable and hybrid projects can improve renewable utilisation, reduce variability and curtailment, and support peak demand. Higher renewable penetration also requires supportive storage policies, timely approvals, aligned intrastate transmission planning, stronger distribution infrastructure, and market mechanisms for ramping reserves, frequency response and fast-response balancing services.
August 13, 2026
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Accredited Investor certification facilitates eligible investors' access to alternative investment products, lower thresholds and applicable regulatory flexibilities.
SEBI's Accredited Investor framework enables eligible investors and entities to obtain certification that may allow lower minimum investment thresholds for Portfolio Management Services, Alternative Investment Funds and other alternative investment products, along with applicable regulatory flexibilities. PMS Bazaar and NSDL Database Management Limited's Accreditation Agency facilitate end-to-end applications, subject to required documentation and prescribed payment. Assistance is available to individual investors and eligible clients of investment providers without additional platform, service or processing charges, while prescribed certification fees remain payable.
August 13, 2026
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Manufacturing GVA growth under the revised national accounts series highlights stable sectoral contribution and resilience-focused industrial measures.
Manufacturing performance is assessed under the revised National Accounts Statistics series using 2022-23 as the base year. Manufacturing's share of total Gross Value Added at current prices remained broadly stable through 2025-26, and Manufacturing GVA at constant prices achieved a compounded annual growth rate of 10.88% from 2022-23 to 2025-26. Production Linked Incentive schemes, logistics and industrial-corridor measures, semiconductor initiatives, and MSME support seek to strengthen domestic manufacturing, diversify supply chains, reduce import dependence, and improve resilience.
August 13, 2026
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Electronic inspection and certified copies expand digital access to judicial records while supporting efficient case management and reduced delays.
NCLT has launched e-Inspection and e-Certified Copy Services for faster and more convenient access to judicial records and certified copies by advocates, litigants and other stakeholders. The services support a technology-enabled Registry framework and transparent, efficient justice delivery. Pendency monitoring, workload redistribution, Special Benches, maximisation of court time, and registration and listing guidelines are intended to improve case management, optimise limited judicial resources and reduce avoidable delays.
August 13, 2026
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CBDC-based food subsidy transfers enable eligible beneficiaries to use Digital Rupee wallet credits for traceable foodgrain purchases.
CBDC-based Direct Benefit Transfer under the Pradhan Mantri Garib Kalyan Anna Yojana will credit eligible beneficiaries' food subsidies as programmable Digital Rupee tokens directly into CBDC wallets. Beneficiaries may use these credits to purchase foodgrains from empanelled merchants through secure, real-time and traceable payments, replacing conventional bank-account transfers. The model is intended to improve traceability, reduce leakages and cash handling, enable real-time monitoring of subsidy use, and provide a scalable framework for CBDC integration with welfare schemes.
August 13, 2026
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Preferential trade agreement negotiations begin under agreed terms covering market access, origin rules, trade remedies and dispute settlement.
India and the Southern African Customs Union have signed Terms of Reference to commence negotiations for a Preferential Trade Agreement. Negotiations are envisaged on trade in goods and market access, rules of origin, customs procedures and trade facilitation, trade remedies including bilateral safeguards, sanitary and phytosanitary measures, technical barriers to trade, dispute settlement, and legal and horizontal provisions. The Terms of Reference establish the negotiating framework only; preferential tariff treatment and other operative commitments depend on conclusion of a final agreement.

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Customs, DGFT & SEZ

Government Approves Nine Proposals of Foreign Direct Investment Amounting to About Rs.1140.14 Crore

March 1, 2013

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Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on January 21, 2013, the Government has approved nine (9) Proposals of Foreign Direct Investment amounting to Rs.1140.14crore approximately.

In addition, one proposal viz., M/s Ingka Holding Overseas B.V., amounting to Rs.10,500 crore, has been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).

Following are the details of the proposals considered in the Foreign Investment Promotion Board (FIPB) in its Meeting held on 21.01.2013 :          

Following Nine (9) proposals have been approved.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(` in crore)

FINANCIAL SERVICES

1

M/s Mahindra Insurance Brokers Ltd., Mumbai; and M/s Mahindra & Mahindra Financial Services Ltd., Mumbai

Induction of foreign equity to carry out the business of Insurance Broking.

80.41

PHARMACEUTICALS

2

M/s Cordlife Sciences (India) Private Limited, Kolkata

Post facto approval for NR to NR transfer of shares and issuance of fresh CCPS in the pharmaceutical sector.

6.11

REVENUE (DGEP)

3

M/s Lagardere Services Singapore Pte. Ltd., Singapore

To set up an investing holding JV company.

53.87

 

INDUSTRIAL POLICY & PROMOTION

4

M/s Pfizer Ltd.

Deletion of compounding clause. The company is engaged in the pharmaceutical sector.

Nil

CORPORATE AFFAIRS

5

M/s M and C Rakindo Hospitality Pvt. Ltd., Coimbatore

Ex-post-facto approval to issue and allot partly paid up shares to carry out the business of development, construction ownership, management, sale and/ or lease of hotel projects in India.

47.85

DEFENCE PRODUCTION

6

M/s Mahindra and Mahindra Ltd

To amend the para 1 and 4 of the FC approval.   The company is engaged in the business of to develop, manufacture and provide service support for radar systems and various kinds of defence electronic systems and various kinds of defence electronic systems.

Nil

HOME AFFAIRS

7

M/s Security and Intelligence Services (India) Pvt. Ltd., Bihar

Induction of foreign equity to carry out the business of private security services.

82.90

INFORMATION & BROADCASTING

8

M/s Multi Screen Media Pvt. Ltd.

Induction of foreign equity to carry out the business of production of television programmes in India languages primarily for export, sale and distribution of Indian language audio visual production. Downlink   certain TV channels.

545.00

9

M/s Wire and Wireless (I) Limited

To issue warrants to carry out the business of Cable Network Business.

324.00

 2.         The following eleven (11) proposals have been deferred:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s NSE Industries, France

Induction of foreign equity to undertake the business of manufacture and servicing of products having defence applications.

2

M/s AWS Truepower LLC, USA

Induction of foreign equity to carry out the business of consultancy services.

3

M/s Telenor Mobile Communications AS, Norway

To set up a JV company in telecom sector.

4

M/s Maharashtra Transmission Communication Infrastructure Limited, Mumbai

Post facto approval for issuance of FDI compliant instruments to an Indian company having foreign equity participation and other foreign investors to undertake the business of providing telecom services in the IP Category – I.

5

M/s PipavavDefence and Offshore Engineering Company Ltd.

A defence sector company, which has 26 percent foreign equity participation (provisional approval) including for issuance of FCCBs has sought amendment in FC approval and issuance of shares to an identified foreign investor.

6

M/s Hindustan Coca-Cola Holdings Pvt. Ltd.

To extend the tenor of the investments made downstream by way of redeemable preference shares and approval for FDI inducted in the holding company during 2010-2011.

7

M/s Dorma India Pvt. Ltd.

A wholly foreign owned subsidiary engaged in the business of assembling and wholesale trading of automatic door closers is seeking removal of the original FIPB approval condition of disinvestment.

8

M/s Calyx Chemicals & Pharmaceuticals Ltd.

To issue IPO to investors including foreign investors to carry out the business of pharmaceutical sector.

9

M/s Bharat Electronics Limited, Bangalore

To set up a JV company to carry out the business of Design, Development, marketing, supply and support of civilian and select defence Radars for Indian and global markets.

10

M/s AbicorBinzel Production (India) Pvt. Ltd., Pune

Post facto approval for the conversion of overseas loan and interest into share application money and issue of shares to NR to carry out the business of manufacturing of welding torches.

11

M/s Greycells Education Ltd.

To issue warrant to carry out the business of educational services rendered by technical or vocational colleges, schools and other institutions.

       

 3.            The following two (2) proposals have been rejected:

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Yorkshire India LLP, Mumbai

Induction of foreign equity to carry out the business of importing, exporting, buying, selling and distribution of Chemicals, biotech and allied industrial products on B2B basis.

2

M/s Equitas Holdings Pvt. Ltd.

Increase in FDI percentage in investing company by way of transfer of shares from Resident to Non-resident.

 4. The following four (4) proposals were withdrawn from the Agenda:

Sl. No

Name of the applicant

1

M/s AGS Transact Technologies Limited, Mumbai

2

M/s NREC Railway Equipments India Private Limited, Delhi

3

M/s Pharmaceutical Coatings Pvt. Ltd., Maharashtra

4

M/s Sterlite Networks Ltd.

 5. The following one (1) proposal was withdrawn from the Agenda on the request of the applicant:           

 

Sl. No

Name of the applicant

1

M/s Samara Capital Partners Funds Limited, Mauritius

 

6. The following one (1) proposal has been recommended for the consideration of CCEA, as the investment involved in the proposals is above Rs.1200.00 crore.        

 

Sl. No

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(` in crore)

1

M/s Ingka Holding Overseas B.V.

To set up a wholly owned subsidiary to undertake single brand retailing of IKEA products.

10500.00

 

DSM/RS/Ka

(Release ID :92799)

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