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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
    VR LIVIN’s ‘THE FIRST’ Records Sale of 20 Villas Within Two Days of Launch
    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
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September 3, 2026
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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.
September 3, 2026
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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.
September 3, 2026
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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.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
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.
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.

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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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