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    ED raids multiple locations in Kolkata in bank loan fraud case
    Commerce & Industry Minister Shri Piyush Goyal Calls Upon Auto Component Industry To Go Global
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    India’s Sovereign Credit Rating upgraded to 'A-' with Stable Outlook by Japan Credit Rating Agency
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    IC Electricals Secures Approx. ₹6 Crore Railway Orders and ₹1 Crore Export Order
    Additional Information related to GDP Estimates Received After Release of Q1 Estimates of FY 2026-27
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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
Show AI Summary
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.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.

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July 29, 2025

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New Delhi, Jul 29 (PTI) Following are the top stories at 1.10 pm: NATION

PAR20 LS-SINDOOR-SHAH 3 terrorists involved in Pahalgam eliminated, Amit Shah announces in Lok Sabha New Delhi: Three terrorists involved in the Pahalgam attack have been eliminated by security forces in a joint operation by the Army, CRPF and Jammu and Kashmir Police near Srinagar, Union Home Minister Amit Shah announced in the Lok Sabha on Tuesday.



DEL5 SONIA-GAZA PM's 'shameful silence' on Israel's assault on people of Gaza height of 'moral cowardice': Sonia New Delhi: Asserting that Israel's military campaign in Gaza amounts to "genocide", Congress parliamentary party chairperson Sonia Gandhi on Tuesday slammed the Modi government for being a "mute spectator to this affront to humanity", and said this was a "cowardly betrayal of our constitutional values".



DEL12 CONG-TEWARI-DEBATE 'Bharat ki baat sunata hoon: Tewari on being 'benched' by Cong during Op Sindoor debate New Delhi: Congress MP Manish Tewari on Tuesday evoked Manoj Kumar's iconic song from "Purab aur Pashchim" -- "Bharat ka rehne waala hoon, Bharat ki baat sunata hoon" -- as he shared on X a media report on being "benched" by his party during the Operation Sindoor debate.



DEL14 OPPN-SIR Opposition leaders protest against SIR in Parliament complex New Delhi: Several MPs of the INDIA bloc parties protested in the Parliament House complex on Tuesday against the Election Commission's voter roll revision in Bihar, and demanded its rollback.



PAR7 LS-FARMERS Income of several farmers more than doubled: Chouhan New Delhi: Agriculture Minister Shivraj Singh Chouhan on Tuesday asserted that steps taken by the government in the farm sector have led to doubling of income of several farmers.



DEL15 HP-WEATHER-LD HAVOC Three killed, one missing as flash flood wreaks havoc in Himachal's Mandi Shimla: Flash flood triggered by cloud burst wreaked havoc in Himachal Pradesh's Mandi town on Monday night, killing three people, burying more than 20 vehicles and inundating several houses, officials said on Tuesday.



BOM6 CG-NAXAL-ENCOUNTER Encounter breaks out between police and Naxalites in Chhattisgarh's Sukma Sukma: An encounter broke out between security forces and Naxalites in Chhattisgarh's Sukma district on Tuesday morning, a senior police official said.



BOM7 MH-PARTY-DRUGS-KHADSE My son-in-law's arrest in drugs case conspiracy to defame me: Khadse Pune: Former Maharashtra minister Eknath Khadse on Tuesday claimed the arrest of his son-in-law in a drugs case in Pune was a conspiracy to defame him as he had raised his voice about a "honeytrap" scandal.



BOM3 GA-ASSEMBLY-PANCHAYATS-DIGITAL From paper to portal: Goa rolls out digital push for village panchayat services Panaji: In a sweeping overhaul, almost all village panchayat services in Goa were being shifted online in a phased manner, bringing grassroots governance into the digital age, a minister has informed in the state assembly.



CAL4 AS-EVICTION Assam govt starts eviction drive to clear encroachment on 3,600 acres of forest land in Golaghat Golaghat (Assam): The Assam government on Tuesday began a massive eviction drive to clear alleged encroachment on over 3,600 acres of forest land in Golaghat district, officials said.



CAL10 BH-CABINET Bihar cabinet approves constitution of commission for upliftment of sanitation workers Patna: The Nitish Kumar government on Tuesday approved the constitution of the Bihar State Safai Karmachari Commission for the all-round socio-economic upliftment of sanitation workers in the state.



CAL11 AS-HIMANTA-GOGOI Gogoi's Parliament speech proves he acts on behalf of Pakistan: Himanta Guwahati: Assam Chief Minister Himanta Biswa Sarma on Tuesday claimed that Congress MP Gaurav Gogoi's speech in Parliament "proved beyond doubt that he acts on behalf of Pakistan".



MDS7 TL-NCLT-JAGAN NCLT allows Jagan's plea to cancel transfer of Saraswati Power shares to sister, mother Hyderabad: The NCLT Hyderabad bench on Tuesday allowed a petition filed by former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy seeking a direction to cancel the "illegal transfer" of shares held by him and his wife Bharathi in Saraswati Power and Industries in the names of his sister YS Sharmila and mother Vijayamma.



MDS5 ISRO-NISAR-SCIENTIST NISAR Mission would showcase Indian Space Engineering on a Global Scale: Ex-ISRO scientist Sriharikota (Andhra Pradesh): The NISAR mission, a collaborative effort between ISRO and NASA, will demonstrate Indian space engineering capabilities for Earth observation on a global scale, a top scientist has said.



MDS8 KL-NUNS-DELEGATIONS Nuns' arrest: UDF, BJP delegations arrive at Chhattisgarh Raipur/Thiruvananthapuram: Two delegations, one consisting Congress-led UDF MPs and another of the BJP Kerala unit, on Tuesday arrived in Chhattisgarh to visit the Catholic nuns from the state, who had been arrested recently on charges of human trafficking and forced conversion.

LEGAL

LGD10 SC-BIHAR-ELECTORAL ROLLS SC fixes timeline for considering pleas on SIR in Bihar; hearing to start from August 12 New Delhi: The Supreme Court on Tuesday fixed a timeline for considering a batch of pleas challenging the Election Commission's Special Intensive Revision (SIR) exercise in Bihar, and said that hearing on the issue will be held on August 12 and 13.



LGD6 SC-PRESIDENTIAL REFERENCE-BILLS SC fixes schedule for hearing Presidential Reference on timeline for assent to state bills New Delhi: The Supreme Court on Tuesday fixed a time schedule for hearing the Presidential Reference raising constitutional issues on whether timelines could be imposed for dealing with bills passed by assembly, and proposed to start the hearing from August 19.



LGD9 DL-COURT-NATIONAL HERALD National Herald case: Court defers order on cognisance of ED chargesheet New Delhi: A Delhi court on Tuesday deferred its order on taking cognisance of the chargesheet filed by the Enforcement Directorate (ED) in the National Herald case.



LGD11 SC-KATARA Nitish Katara murder: SC extends interim bail of Vikas Yadav by 4 weeks New Delhi: The Supreme Court on Tuesday extended by four weeks the interim bail granted to Vikas Yadav, undergoing a 25-year jail term in the 2002 Nitish Katara murder case, to attend to his ailing mother.



LGD13 SC-CONTEMPT NOTICE-JUDGE SC issues contempt notice over scurrilous allegations against Telangana HC judge New Delhi: The Supreme Court on Tuesday issued contempt notices to a litigant and his lawyers for making "scurrilous allegations" against a sitting judge of the Telangana High Court in their plea.



LGD12 SC-ABDULLAH AZAM KHAN SC stays trial in two cases involving Azam Khan's son Abdullah New Delhi: The Supreme Court on Tuesday stayed an order of the Allahabad High Court directing Rampur's MP-MLA court to proceed with the trial in two cases linked to former MLA and senior Samajwadi Party leader Azam Khan's son Mohammad Abdullah Azam Khan.

FOREIGN

FGN9 CHINA-FLOOD-LD DEATHS 30 killed in heavy floods in Beijing  Beijing: Thirty people have died and over 80,000 others were relocated in the latest round of heavy rainstorms in Beijing, the city's municipal flood control headquarters said on Tuesday.



FGN10 UN-SHAH-COOPERATIVES Cooperatives in India now medium for innovation, self-reliance: Amit Shah to UN United Nations: Cooperatives in India have gone beyond their traditional boundaries and are now a medium for innovation and self-reliance in areas such as digital services, energy and financial inclusion, Home Minister and Minister of Cooperation Amit Shah told the UN.



FGN14 SINGAPORE-NAIDU-INVESTORS Andhra Pradesh CM Naidu invites Singapore entrepreneurs to invest in his state Singapore: Andhra Pradesh Chief Minister N Chandrababu Naidu has invited Singapore-based investors and entrepreneurs to participate in India's development drive and listed a wide range of projects planned and being implemented in his state.

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