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    Senior citizen threatened with terror funding case probe, duped of Rs 7.2 crore
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August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
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Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
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Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
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Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
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Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
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Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
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Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
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Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.
August 27, 2026
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Cyber fraud awareness promotes safe digital banking by teaching customers to verify communications, protect credentials, and report suspicious transactions.
Cyber-fraud awareness and digital banking safety were promoted through community sessions addressing phishing, impersonation, OTP and UPI fraud, QR-code scams, digital-arrest fraud, and fraudulent customer-care calls. Participants were guided to identify authentic banking communications, avoid sharing confidential credentials, verify callers and links before acting, and promptly report suspected unauthorised transactions. Customer vigilance, financial literacy, and institutional security measures were emphasised as complementary safeguards against digital financial fraud.
August 27, 2026
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Personal insolvency repayment plans may be approved despite minimal creditor recovery when requisite voting support and comparative valuation support them.
Personal insolvency repayment plan approval was granted under the Insolvency and Bankruptcy Code, 2016, despite objections that creditor recoveries were negligible and the proposed payment uncertain. The plan received 80.81 per cent voting support, while dissenting creditors held less than 20 per cent voting share. Valuation showed that the debtor's personal estate was materially below the offered amount, and rejection could result in bankruptcy and lower recovery. Assessment of settlement adequacy was treated as a matter of creditor commercial wisdom.
August 27, 2026
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Prison escape security lapses prompt coordinated tracing measures, transport monitoring, inter-state alerts, and a detailed custodial-security inquiry.
Prison escape and custodial-security lapses arose after a detainee escaped from Aluva Sub Jail, allegedly by using an under-construction structure within the premises to cross the compound wall. Following his later appearance at a police station seeking return of his Aadhaar card, search measures included a lookout circular, information sharing with police stations, railway-security coordination, and alerting police in Assam. A detailed inquiry has been initiated into the prison-security deficiencies enabling the escape.
August 27, 2026
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Women's savings account selection depends on practical benefits, charges, eligibility, and banking needs rather than the account label.
Women's Savings Accounts may provide standard banking facilities together with additional services or benefits for eligible women. Their suitability depends on practical use of digital banking, transfers, payments, alerts, debit-card facilities, accessibility, security features, charges, and minimum-balance conditions. Since regular Savings Accounts may offer comparable facilities, the additional benefits should be assessed against associated costs and conditions. Selection should be based on comparison of eligibility, facilities, balance requirements, benefits, customer support, and authentication safeguards rather than the account's women-focused label alone.
August 27, 2026
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Retirement annuity selection prioritises payout structure, taxation, insurer strength and flexibility over brand comparison for informed retirement decisions.
Retirement planning may combine market-linked accumulation during working years, deferred annuities that lock future guaranteed income, and immediate annuities that convert retirement savings into regular payments. Annuity choice depends on whether the priority is higher income, continuation for a surviving spouse, or return of capital on death. Product comparison should consider market-linked growth versus income certainty, taxation of annuity income at applicable slab rates, insurer strength, and flexibility in deferment, payout frequency and policy loans.
August 27, 2026
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Foreign exchange inflows through deposit and borrowing measures provided near-term rupee support amid lower crude prices.
Reserve Bank special measures relating to FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings were identified as attracting foreign-exchange inflows and providing near-term support to the rupee. The Reserve Bank became a net dollar buyer in June after two months of sales to support the rupee. The FCNR(B) window remained open until August 31, while the market outlook anticipated broader rupee depreciation over subsequent weeks.

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Customs & Trade

Ganesh Housing’s Million Minds Tech City Becomes Gujarat’s First Platinum-Rated SEZ IT Park under IGBC New Building Rating

August 8, 2025

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Ahmedabad, 08th August 2025: Ganesh Housing Corporation Limited proudly announces that its flagship development in Ahmedabad, Million Minds Tech City, has become the first SEZ IT Park in Gujarat to earn the prestigious IGBC Platinum rating under the IGBC Green New Buildings Rating program. This milestone reinforces Ganesh Housing’s commitment to delivering world-class, environmentally responsible commercial office developments that set new standards for the real estate industry. With this milestone, Million Minds Tech City strengthens its position as a leading destination for businesses seeking premium, environmentally responsible office spaces in India. This certification makes it Gujarat’s first SEZ IT park to meet IGBC’s stringent criteria for site planning, water and energy conservation, occupant health, materials efficiency, and innovation. The IGBC Platinum rating, the highest recognition under the Indian Green Building Council’s New Building rating system, highlights the project’s excellence in energy efficiency, water conservation, indoor environmental quality, and use of sustainable materials — positioning the development as a benchmark for green urban development in Gujarat. Commenting on the achievement, Mr. Anmol Patel, Director, Ganesh Housing Corporation Limited, said, "This Platinum rating from IGBC is more than just a certificate—it’s a validation of our long-term vision to place Gujarat at the heart of India’s tech-led growth story. When we conceptualized Million Minds Tech City, our goal was not only to create a high-performance workplace ecosystem but also to lead with accountability—toward the environment, future generations, and the evolving aspirations of global businesses. As the first SEZ IT Park in the state to achieve this rating, we are proud to set a new benchmark in sustainable infrastructure, proving that large-scale development can be both commercially ambitious and environmentally conscious. “This milestone reflects what’s possible when design, technology, and intent come together with clarity and purpose,Million Minds Tech City is more than just an IT Park — it represents our vision for a future-ready, sustainable Gujarat. Located on S.G Highway at Vaishnodevi Circle in Ahmedabad’s Central Business District, Million Mind Tech City is a 65-acre integrated township, designed by globally acclaimed RSP Architects and managed by Tishman Speyer. Featuring 18 million square feet of mixed use development — with 50% allocated to Grade A commercial spaces and 50% to luxury residences & Retail— Million Minds offers a dynamic walk-to-work ecosystem, complete with IT parks, premium residences, a luxury hotel, retail spaces, and more than 1.65 Lakhs square feet of world-class amenities, including floating gardens. About Ganesh Housing Corporation Limited Ganesh Housing Corporation Limited, headquartered in Ahmedabad, Gujarat, stands as a pioneering force in India's real estate sector with over six decades of excellence. The company made history as one of the first real estate developers to be listed on both the NSE and BSE, demonstrating its commitment to transparency and financial governance. The company has demonstrated remarkable growth, having completed over 22 million square feet of development while maintaining an impressive 35 million square feet of ongoing projects. Their diverse portfolio encompasses Grade A+ commercial spaces, luxury residential properties, villas, industrial hubs, and data centers. Their commitment to quality is validated by their ISO 9001:2015 certification. Ganesh Housing’s diverse portfolio includes landmark developments such as Sundarvan Epitome, GCP Business Centre, Magnet Corporate Park, Shangri-La, Shangrlla-II, Mahalaya, Mahalaya II, Satva, Satva II, Maple Series — Maple County, Maple County II, Maple Tree Garden Homes, Maple Trade Centre — and the Malabar Series — Malabar County, Malabar County II, Malabar County III, Malabar Exotica. Adding to this distinguished lineup is the recently launched Malabar Retreat — ultra-spacious 4 & 5 BHK residences overlooking SG Highway, offering sweeping views of the city and crafted as one of the most luxurious green building projects in the region reflecting the company’s commitment to quality, comfort, and value. Beyond real estate, Ganesh Housing is committed to social responsibility through initiatives in education, healthcare, Skill Development and environmental sustainability, ensuring a positive community impact alongside business growth. About Million Minds Tech City Poised to redefine Ahmedabad’s commercial skyline, Million Minds Tech City is the flagship development by Ganesh Housing Corporation Limited — and its most ambitious and future-forward undertaking to date. Million Minds Tech City is one of India’s most exclusive tech-centric developments — a landmark destination that brings together Grade A infrastructure, global design sensibilities, and a future-ready business environment in a single, integrated ecosystem. Envisioned as a self-sustained tech city, the project blends cutting-edge commercial spaces with luxury living, hospitality, retail, and recreation — enabling a true walk-to-work lifestyle. With its SEZ-enabled infrastructure tailored for both domestic and international enterprises, Million Minds is designed to serve the next generation of IT, ITeS, and global businesses seeking scale, connectivity, and efficiency. From premium residences and a luxury hotel to a destination mall and an exclusive club within the tech park, every element is curated to elevate experience and productivity. With over 1.65 lakh sq. ft. of amenities and a strong focus on sustainability, the development sets a new benchmark for what a modern urban business district can be — right in the heart of Ahmedabad. This is not just a project — it’s a landmark. One that places Ahmedabad at the centre of India’s evolving IT and innovation landscape, offering world-class infrastructure for both domestic and international enterprises. For more information about Million Minds Tech City, please visit: https://millionmindstechcity.com (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI

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