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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
    Govt rejects ethanol link to sugar price surge, says duty free imports allowed to curb prices
    China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence
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    Govt allows free imports of 10 lakh tn raw sugar until Oct 31
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
Sugar price containment measures include stock limits for dealers, consumption-based inventory restrictions for bulk consumers, duty-free raw sugar imports, and physical verification of mill stocks to prevent hoarding and artificial scarcity. Price increases are attributed to lower domestic output, festive demand, crop damage, tighter global supplies, and speculation rather than sugar diversion for ethanol. Earlier crushing is advised to improve seasonal availability, while the ethanol programme supports management of sugar surpluses, mill liquidity, and timely sugarcane payments.
August 21, 2026
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Cross-border insolvency enforcement constrains asset recovery as Evergrande liquidation, founder asset confiscation, and audit-related claims continue.
Evergrande's insolvency process involves liquidation proceedings for its mainland property-development unit and its Hong Kong-listed holding company. Cross-border recovery is constrained by separate Hong Kong and mainland China legal systems, particularly because most operational assets are located in mainland China. Liquidators are pursuing asset-tracing and recovery measures against the founder and connected persons, as well as claims concerning pre-collapse audits. Investigations identified revenue overstatement through manipulated financial data. Creditor recoveries are expected to be limited due to substantial liabilities and constraints on asset realisation.
August 21, 2026
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Foreign exchange reserves rose through higher currency assets and gold holdings amid measures to attract external forex inflows.
India's foreign exchange reserves increased during the reporting week, led by higher foreign currency assets and gold reserves. Foreign currency assets include the dollar-value effects of movements in non-US currencies held as reserves. Special drawing rights declined marginally, while the reserve position with the International Monetary Fund increased marginally. Concessional swap arrangements formed part of measures to attract foreign-exchange inflows, while earlier reserve movements were linked to rupee pressure and dollar-sale intervention in the foreign-exchange market.
August 21, 2026
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Incremental tariff recovery aligns airport user charges with completed infrastructure, preventing passengers from funding non-operational capital projects prematurely.
User development fees and airport tariffs for Bengaluru International Airport have been revised for the April 2026 to March 2031 control period. The incremental Average Revenue Requirement framework excludes costs of identified high-value capital projects from tariffs until the relevant assets are completed, commissioned and available for users. Incremental tariff recovery may begin only upon operational availability, aligning charges with infrastructure use, reducing premature recovery risk for passengers and airlines, and encouraging timely completion of major capital works.
August 21, 2026
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Customer experience analytics enables banks to convert real-time feedback into operational improvements across high-value customer journeys.
Customer experience analytics is used in banking to transform customer data and real-time feedback into operational improvements across key customer journeys. Operational teams retain responsibility for strategy and execution, supported by in-house analytics and technology platforms for multi-channel journey mapping, journey analytics and prioritisation of high-value customer segments. AI-driven customer experience management tools capture customer signals, analyse journey performance and operationalise actionable insights across teams.
August 21, 2026
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
Predicate-offence dependency under the Prevention of Money Laundering Act requires an ECIR to rest on a subsisting scheduled offence. Closure of the FIR forming its basis through an accepted cancellation report prevents continuation of money-laundering proceedings unless that closure is overturned. A previously registered FIR cannot be belatedly added merely to preserve an existing ECIR and coercive powers. Where statutory requirements are met, an independently registered ECIR may be required. Expansion of an ECIR cannot rest solely on tenuous factual links between successive disputes.
August 21, 2026
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Indian rupee export invoicing rules now permit overseas contracts and invoices in rupees or foreign currency for eligible destinations.
Foreign Trade Policy provisions were amended to facilitate invoicing of overseas exports and receipt of export payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency, replacing the earlier general requirement that export earnings be received in a freely convertible currency. The applicable requirements vary according to the destination country.
August 21, 2026
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Dealer inventory financing supports working-capital flexibility, vehicle inventory management and electric-vehicle network expansion for authorised dealers.
Dealer inventory financing is to be provided by Federal Bank to VinFast India's authorised dealer network under a memorandum of understanding. The tailored financing is intended to improve dealers' working-capital flexibility, support maintenance of vehicle inventory, strengthen operational capability, and enable timely response to demand as the electric-vehicle distribution network expands.
August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
August 21, 2026
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
The rupee strengthened marginally against the US dollar as the dollar index softened, but elevated crude oil prices, geopolitical uncertainty, reduced foreign participation and net foreign equity outflows constrained currency sentiment. RBI measures to attract foreign currency inflows, including FCNR(B) deposits, were expected to generate substantial inflows, although these had not produced meaningful rupee strength. Energy-market disruption and restrictions on fuel exports through the Strait of Hormuz added to external-sector pressures.
August 21, 2026
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Sovereign security production priorities emphasise compliance, modernisation, employee innovation and operational excellence across currency, passport and coinage manufacturing.
SPMCIL performs a sovereign production mandate covering secure currency, coinage, passports and other products of national importance through its mints, currency presses, security presses and paper mill. Modernisation, compliance, transparency, efficiency, productivity, quality and corporate governance support the fulfilment of sovereign requirements. Individual employees and units were recognised for performance in productivity, environment and safety, energy conservation, knowledge and development, vigilance, and official-language implementation.
August 20, 2026
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Customs enforcement against suspected gold smuggling leads to baggage seizure and apprehension of the alleged intended receiver.
Customs officers intercepted an arriving passenger at the green channel on intelligence inputs and examined baggage after X-ray screening indicated suspicious images. The examination recovered two oval capsules containing gold paste concealed in the baggage. Interrogation indicated that an alleged receiver was waiting outside the airport to collect the suspected smuggled gold. Customs officers apprehended the alleged receiver, and further investigation remains underway.
August 20, 2026
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Provincial alcohol sales restrictions remain subject to economic impact assessment under proposed bilateral trade agreement negotiations.
Provincial control over alcohol distribution remains distinct from federal trade-making authority. Quebec retains authority over whether United States alcohol is offered through its government-controlled liquor distribution system, despite lacking a veto over a bilateral trade agreement. Federal requests to restore United States alcohol to retail shelves cannot compel provincial action. Proposed trade commitments also concern restrictions on United States agricultural products and Canada's dairy import regime, which applies lower tariffs within designated import volumes and higher duties beyond those volumes.
August 20, 2026
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Electoral-roll verification found no reported cases of specified foreign nationals receiving identity-linked benefits or voter registration.
Electoral-roll special intensive revision recorded no reported cases of Pakistani, Bangladeshi or Iranian nationals obtaining Aadhaar cards, ration cards, other government benefits, or voter registration. Illegal immigrants are identified through police monitoring, intelligence measures, specialised operations and a Special Task Force. Overstayers are recorded through the District Police Module and Foreigners Identification Portal and produced before Foreigners Regional Registration Officer authorities. Persons found to be residing illegally are reported to the concerned central divisions, proceeded against through registered cases, retained pending case disposal and exit permits, and subjected to deportation steps.
August 20, 2026
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
Raw sugar imports are permitted duty-free under a tariff rate quota until 31 October 2026, with online allocation to eligible millers and refiners having functional refining capacity. Applicants must provide a refining-capacity declaration and supporting Consent to Operate; preference applies to importers undertaking timely completion of imports, while non-utilisation or failure to surrender allocations constitutes non-compliance. Bulk sugar consumers meeting the prescribed consumption threshold are subject to a stock cap of 15 days' consumption from 1 September to 30 November 2026.
August 20, 2026
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
August 20, 2026
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Reservation policy implementation is strengthened through capacity building, uniform institutional practices, welfare measures, and improved financial accessibility for Divyangjans.
Reservation policy implementation across Public Sector Banks, Public Sector Insurance Companies, sectoral regulators and Public Financial Institutions is being strengthened through a capacity-building workshop. The programme seeks uniform and effective application of Government reservation policies and related welfare measures. Senior human-resource functionaries and Chief Liaison Officers considered practical implementation issues, actionable measures for consistency, and operational concerns. It also focuses on improving accessibility of financial services for Divyangjans.
August 20, 2026
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Startup ecosystem support expands through digital infrastructure, mentorship, market linkages and specialised assistance for energy and climate-tech innovation.
DPIIT's collaborations with PhonePe and Shell India create support mechanisms for DPIIT-recognised startups through technology access, digital infrastructure, mentorship, market opportunities and industry networks. PhonePe will provide transaction credits, access to the Indus AppStore, onboarding support, brand visibility, and training on fintech, sales, go-to-market strategy and business scaling. Shell India will assist energy and climate-tech startups through mentorship, strategic guidance, investor and incubator connections, participation opportunities, and knowledge-sharing materials on innovation and best practices.
August 20, 2026
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India-Singapore economic cooperation advances through trade, investment, technology and business linkages, including agriculture, fintech and sustainable infrastructure collaboration.
India-Singapore economic cooperation was advanced through ministerial, business and government-to-business engagements focused on deepening bilateral trade, investment, technology and commercial linkages. Discussions addressed agri-exports, GCC-based commercial parks, fintech and sustainable infrastructure, alongside expanding agricultural market linkages. The engagements reinforced commitment to strengthening trade, investment, technology and business-to-business cooperation.

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News and Press Release

99th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

September 3, 2025

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04 projects including 03 Rail and 01 Road/Highway evaluated for alignment with integrated multimodal infrastructure and socio-economic benefits

The 99th meeting of the Network Planning Group (NPG), convened today to evaluate infrastructure projects of Road, Transport & Highways. The meeting focused on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

The NPG evaluated 04 projects comprising 01 Road/Highway project of the Ministry of Road, Transport & Highways (MoRTH) and 03 Rail projects of the Ministry of Railways (MoR), including 02 Brownfield, 01 Greenfield, and 01 Greenfield + Brownfield projects. The evaluation was undertaken to ensure conformity to PM GatiShakti principles of integrated multimodal infrastructure, last-mile connectivity to economic and social nodes, and a ‘whole of Government’ approach. These initiatives are expected to boost logistics efficiency, reduce travel times, and deliver significant socio-economic benefits to the catchment areas of the projects. The meeting was chaired by Shri Pankaj Kumar, Joint Secretary, Logistics, Department for Promotion of Industry and Internal Trade (DPIIT). The evaluation and anticipated impacts of these projects are detailed below:

Ministry of Railways(MoR)

New Broad Gauge (BG) line from Baramulla to Uri: The Ministry of Railways has proposed the construction of a new 40.2 km railway line between Baramulla and Uri in Jammu & Kashmir, connecting five existing stations. The project will provide all-weather, reliable rail connectivity, addressing frequent disruptions faced by road travel during harsh weather. Uri, located near the Line of Control at Kaman Post, has already emerged as a border tourism destination. With the new railway line, tourism in the region is expected to receive a significant boost. The project also holds strategic importance, as Baramulla and Uri Tehsil house major Indian Army establishments and lie close to the border. The proposed railway line will include 3 Road Under Bridges (RUBs) and 9 Road Over Bridges (ROBs) and will be developed as a new single Broad-Gauge line, requiring fresh land acquisition.

Doubling of Qazigund to Badgam: The Ministry of Railways has proposed the doubling of the Qazigund–Badgam railway line, covering a 73.50 km stretch in Jammu & Kashmir. At present, the Qazigund–Baramulla line operates as a single track. With the commissioning of the Katra–Banihal section in 2025, the corridor will be fully integrated with the Indian Railways network, offering huge potential for passenger and freight traffic. The doubling project is of strategic importance, enabling seamless movement of military special trains carrying Army personnel, equipment, and supplies. Accordingly, it has been designated under the Hill & Strategic Corridor. Key highlights: (a) 10 stations (9 crossing stations and 1 halt), all existing in J&K, will be covered. (b) The new alignment will run parallel to the existing line. (c) Doubling will increase capacity, reduce delays, and strengthen connectivity across the Valley. The project will also boost tourism and local economic activity, while ensuring faster, safer, and reliable logistics for defence needs. The proposal marks another step towards building a resilient and strategically vital railway network in Jammu & Kashmir.

Proposed 3rd & 4th line between Ambala – Jalandhar : The Ministry of Railways has proposed the development of a 3rd line between Ludhiana–Jalandhar Cantt and a 4th line between Ambala Cantt–Sahnewal, covering 138 km on Broad Gauge (1676 mm). The alignment passes through key districts of Punjab (Patiala, Fatehgarh Sahib, Ludhiana, Kapurthala, Jalandhar) and Ambala district in Haryana. The project will reduce travel time, ease congestion, and increase capacity for both passenger and freight trains. It will cover 21 stations including Ambala Cantt, Patiala, Ludhiana, Kapurthala, and Jalandhar, and include 44 Road Under Bridges (RUBs) and 1 Road Over Bridge (ROB) for safe and smooth operations. This section forms part of the Ambala–Ludhiana–Jalandhar–Amritsar corridor, which currently handles nearly 92 trains per direction per day. The additional lines will provide crucial capacity augmentation, benefitting agriculture, trade, tourism, and industry in the region. Strategically, the project holds exceptional importance for national security, as the corridor serves as the shortest and most vital rail link to Jammu & Kashmir, enabling faster movement of defence personnel, logistics, and supplies to border areas.

Ministry of Road, Transport & Highways (MoRTH)

Construction of 4-Lane Divided Carriageway from Khagaria to Purnia :The Ministry of Road, Transport and Highways has proposed the upgradation of the existing two-lane to a four-lane divided carriageway between Khagaria to Purnia in Bihar. The road will cover part of NH-31 (Km 270.0–384.200) and NH-231 (Km 384.200–410.0). NH-31 is one of India’s key highways, starting near Unnao in Uttar Pradesh and passing through major towns such as Varanasi, Ghazipur, Chhapra, Patna, Begusarai, Khagaria, Bhagalpur, and Katihar before ending in Pandua, West Bengal. This stretch will connect remote districts like Khagaria and Katihar in the Seemanchal region with Patna and other important urban centers, ensuring people in underdeveloped areas have better access to jobs, markets, healthcare, and services. It will help drive inclusive growth by linking marginalized communities with the state’s economic hubs. Project Highlights: 5 Major Bridges, 6 Minor Bridges, 4 Railway Crossings/ROBs, 2 Toll Plazas, 4 Truck Lay Bays. Connectivity Benefits: (a) Direct link to the Patna–Purnia Expressway (via NH-27).(b) Easy access to Khagaria, Bhagalpur, Katihar, and Purnia railway stations. (c) Better link to Purnia Airport (via NH-231 and NH-27). Once completed, the highway will provide faster, safer travel, reduce travel time, and improve the movement of goods and passengers. It is expected to become a key driver for regional trade, agriculture, tourism, and overall development in the Seemanchal region.

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