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    Govt cuts windfall gains tax on petrol, diesel, ATF exports
    Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
    Current account deficit widens to USD 6.2 bn in Jun: RBI data
    Concessional swap facility attracts USD 56.85 bn forex inflows: RBI
    DFS Highlights Mechanism for Timely Redressal of Insurance Policyholders’ Grievances
    Forex kitty jumps USD 14.14 bn to USD 707 bn in one of the biggest weekly expansions
    PROVISIONAL ESTIMATES OF WHOLESALE PRICE INDEX, OUTPUT PRODUCER PRICE INDEX, AND TRIAL INPUT PRODUCER PRICE INDEX FOR THE MONTH OF JULY 2026, AND FINA...
    Logistics Data Bank Tracks 10 Crore EXIM Containers, Provides Visibility across Logistics Chain
    APEDA and Government of Tripura Organise International Organic Buyer-Seller Meet to Expand Global Market Linkages
    WPI inflation eases to 9.78 pc in July on softening in fuel prices
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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...
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August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.
August 14, 2026
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Wholesale and producer price indices show July inflation movements, provisional estimates, final revisions, and manufacturing input-price trends.
Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.
August 14, 2026
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Logistics data visibility enables EXIM container tracking, operational analytics and multimodal shipment monitoring across India's logistics chain.
Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.
August 14, 2026
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International organic buyer-seller linkages support Tripura producers through direct sourcing engagement, market access and sustainable export opportunities.
International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.
August 14, 2026
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Wholesale price inflation moderation was driven by softer fuel prices, while manufactured goods and primary articles recorded higher inflation.
Wholesale price inflation moderated in July, led by a decline in fuel and power inflation and a marginal easing in food-article inflation. Inflation in manufactured products and primary articles increased, making the moderation uneven across groups. Mineral oils, food articles, basic metals, non-food articles, food products, and chemical products remained significant inflation drivers. The output Producer Price Index remained unchanged year-on-year, with lower manufacturing and mining inflation offset by higher agriculture and electricity producer-price inflation.
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.

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Crompton Launches RapidJet TDS 2000 as a Breakthrough in Water Heater Technology to Tackle Hard Water Concerns This Monsoon

July 17, 2025

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Equipped with Anti-Scale Technology and Durable Design, the RapidJet TDS 2000 Ensures Consistent Hot Water and Long-term Reliability Mumbai, Maharashtra, India (NewsVoir) Tired of dealing with the frustrating effects of hard water on your water heater—especially during the monsoon when water quality often deteriorates? Crompton Greaves Consumer Electricals Limited, India’s trusted name in consumer electricals, has launched the RapidJet TDS 2000, a revolutionary instant water heater designed specifically for hard water conditions. This technology-forward product introduces Anti-Scale Technology, marking a first in Crompton’s water heater portfolio. It sets a new benchmark in durability and performance, ensuring longer-lasting efficiency and reliable comfort for modern households.

This year’s early monsoon has brought widespread rainfall across the country, with the IMD forecasting 105% of the long-term average. While a relief, such heavy rains often contaminate surface water, pushing households to rely more on borewell water—typically hard and mineral-rich. Across India, borewell water has TDS levels ranging from 600 to 2000 ppm, and sometimes higher. With borewells being drilled deeper each year, the hardness only increases, making it a year-round concern. This hard water leads to scaling on the heating element of water heaters, causing slower heating, higher energy use and frequent repairs or replacements. Crompton’s RapidJet TDS 2000 addresses these challenges head-on. Its anti-scale technology-based heating element, tested under lab conditions for TDS up to 2000 ppm, is built to resist hard water damage. Combined with a food-grade stainless steel tank and rust-resistant materials, this innovation delivers long-lasting performance and energy efficiency—providing reliable comfort even through the demanding monsoon months.

This innovation spotlights Crompton’s dedication towards advancing technology and exceeding consumer expectations in water heaters, highlighted by the advanced features of the RapidJet TDS 2000. Some of the features include: • Anti-Scale Technology-based Heating Element: Specially designed to endure hard water conditions, this heating element minimizes sediment buildup—an issue that intensifies during the monsoon due to increased water hardness and impurities. It ensures consistent hot water flow, enhances energy efficiency, and prolongs the appliance’s lifespan, making it ideal for use in heavy rainfall and borewell-dependent areas.

• Suitable up to 2000 TDS: Designed to handle the challenges of hard water, especially during the monsoon when TDS levels typically rise due to increased groundwater dependence, this water heater is tested to perform efficiently even in conditions with up to 2000 ppm of Total Dissolved Solids. It ensures consistent heating performance without scale-related disruptions, making it ideal for borewell-reliant households facing seasonal water quality fluctuations.

• Food-Grade Stainless Steel Tank: Built to withstand the corrosive effects of hard water that intensify during the rainy season, the tank is crafted from food-grade stainless steel for superior durability and hygiene. It not only resists rust and sediment accumulation but also maintains water purity through repeated use, ensuring long-lasting protection and safe hot water even in high TDS conditions.

• Rust-Proof Outer Body: Constructed with a thermoplastic body, this water heater is impervious to rust caused by high humidity and moisture levels typical of the monsoon season. This rust-proof design ensures durability and extends the heater’s life, particularly in coastal or high-precipitation regions during heavy rains.

• ISI Certification: The ISI mark guarantees adherence to strict safety standards and quality assurance, crucial during the monsoon when electrical safety risks can increase due to moisture. It assures homeowners that the water heater meets rigorous safety protocols, protecting against hazards such as electrical faults and overheating, ensuring reliability and peace of mind even in damp, wet conditions.

Speaking about the new launch Malhar Vadke, Vice President – Large Domestic Appliances, Crompton Greaves Consumer Electricals Ltd said, “The monsoon season brings heavy rains, high humidity, and fluctuating water quality that often causes sedimentation and scale buildup in water heaters, creating real challenges for homeowners. At Crompton, we focus on creating innovations that directly tackle everyday problems while maintaining high standards of quality and reliability. Over the years, this approach has made Crompton one of India’s most trusted brands, known for combining advanced technology with practical solutions. The RapidJet TDS 2000 reflects this commitment perfectly. Built to handle hard water and moisture during the monsoon and beyond, it features Anti-Scale Technology and durable materials to ensure consistent, energy-efficient performance and long-lasting reliability. This product raises the bar for durability and efficiency, showcasing Crompton’s dedication to meaningful innovation that delivers real value to customers.” Building on the success of its RapidJet series, which has garnered the trust of over 11 lakh customers since 2019, Crompton continues to deliver consumer-centric innovations backed by its legacy of over 85 years of quality and reliability. To support the launch of the RapidJet TDS 2000, the company has also initiated employee awareness programs to highlight the importance of Anti-Scale Technology in combating sedimentation and scale formation.

Available at Crompton-authorized retail outlets nationwide and on major e-commerce platforms, the RapidJet TDS 2000 is designed to provide a reliable and efficient water heating solution for modern households, ensuring durability and peace of mind for consumers in all water conditions.

About Crompton With a brand legacy of over 85 years, Crompton Greaves Consumer Electricals Ltd. is India’s market leader in the category of fans and residential pumps. Over the years, the organization has continuously strived to produce a range of innovative products that cater to the modern consumer including superior quality and high-performance fans, pumps, lighting solutions and a range of other categories like water heaters; air coolers; small kitchen appliances like mixer grinders, air fryers, OTG, electric kettles etc.; other home appliances like irons & built-in kitchen appliances. The company has further invested in brand and innovation to not only better understand and meet consumer needs, but to also help drive energy efficiency. The consumer business also has a well-established and organized distribution network driven by a strong dealer base across the country offering a wide service network and robust after sales service to its customers.

The company's consistent dedication to developing energy-efficient products has led to significant recognition. It has been honored with three prestigious National Energy Consumer Awards (NECA) by BEE, Ministry of Power. The recent award was presented by the Hon’ble President of India, Smt. Droupadi Murmu for the company's storage water heater in 2023. In 2019, the brand won in two categories: Ceiling Fans and LED Bulbs.

Additionally, it was recognized as one of India's Best Managed Companies 2022 by Deloitte Private and listed among ‘India’s Top 500 companies 2022’ by Dun & Bradstreet India. The company has also been featured in Brand Top 75 most valuable Indian brands list for 2020 released by WPP and Kantar. Furthermore, Crompton was also recognized as the Brand of the Decade 2021 by Herald Global and BARC Asia in the Consumer Electrical category.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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