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    Banks mobilise USD 127.23 billion in deposits from Indian diaspora: RBI
    CBI Arrests CGST Additional Commissioner and Two others in Rs. 40 Lakh Bribery Case in Raigad, Maharashtra
    Haryana: SGST collections grow 29 pc in first 5 months of 2026-27
    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
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September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
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.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
Show AI Summary
Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.

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Customs & Trade

India and US 'not that far apart' on trade deal: US ambassador-designate Gor

September 11, 2025

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New York/Washington, Sep 11 (PTI) US ambassador-designate to India Sergio Gor on Thursday said India's protectionist policies and regulatory barriers have prevented Washington from fully realising its partnership with Delhi, and if confirmed, he will work to advance trade that is fair, reciprocal and beneficial to Americans.

At his confirmation hearing in the Senate Foreign Relations Committee, Gor also said that India and the US are “not that far apart” right now on a trade deal.

"India is a strategic partner whose trajectory will shape the region and beyond,” Gor said as he underlined that he is committed to advancing America's interest in this "important" partnership.

Noting that India and the US are actively negotiating right now, Gor said President Donald Trump has invited their commerce and trade ministers next week, and they will be meeting with US Trade Representative Ambassador Jamieson Greer in Washington.

"Part of that will include hopeful, a hopeful deal. We are not that far apart right now on a deal. In fact, they're negotiating the nitty-gritty of a deal,” Gor said.

“We expect more from India than we do sometimes from other nations. I do think it will get resolved over the next few weeks,” he said.

Gor underlined that President Trump has a “deep friendship” with Prime Minister Narendra Modi, and that is something that is unique.  “In fact, if you have noticed, when he has gone after other nations, he tends to go after their leaders for putting us in that position, and for the US imposing those tariffs. When the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship,” he said.

He stressed again that “We're not that far apart on a deal already on these tariffs… Getting India to stop buying Russian oil is a top priority for this administration." "I think the time will arrive upon us in the next few weeks, the next few months, for all of this to get resolved,” Gor said.

Gor said that in the past, India's "protectionist policies and regulatory barriers have prevented us from fully realising this partnership. If confirmed, I'll work to advance trade that is fair, reciprocal and beneficial to the American workers and businesses." “Improving US-India trade ties will not only bolster US competitiveness, but also reduce China's economic leverage over other nations,” Gor said.

“If confirmed, I will work to increase American energy exports to India, establishing the US as a leading supplier of crude oil, petroleum products and liquefied natural gas,” he said.

When confirmed, 38-year-old Gor will be the youngest US ambassador to India.

"India's role in ensuring the stability and security of the region cannot be understated. A stable South Asia is in the interest of the US and all the nations,” he said, adding that the US-India partnership will define the 21st Century.

"It is only by working together that we can make that aspiration a reality.” He said India's geographic position, economic growth and military capabilities make it a “cornerstone” for regional stability and a critical part of promoting prosperity and advancing the security interests that the two nations share.

"I will work to deliver on the presidential agenda and advance US interests by increasing our defence cooperation, ensuring fair and beneficial trade, deepening energy security and furthering technology,” Gor said.

He underscored that if confirmed, he will prioritise deepening defence and security cooperation with India. “This includes expanding joint military exercises, advancing co-development and co-production of defence systems and concluding critical defence sales,” he said.

He added that these efforts will enhance collaboration between “our forces while supporting American defence manufacturers and making America more prosperous.” From artificial intelligence to pharmaceuticals to critical minerals, the potential for collaboration between the two countries is vast, Gor said, adding that he will advocate for reforms that will make India's markets more accessible and transparent.  “I will also work towards President Trump's ambitious goal dubbed ‘Mission 500’ to double bilateral trade to $500 billion by 2030, which will expand American exports, creating jobs and prosperity for our citizens,” he said.

He said he will encourage Indian investment in US manufacturing capacity, and “we will also be furthering with Indian investments in the United States. We'll also be furthering our strategic pharmaceutical supply chain and create more jobs right here at home in the US.”  India is also a strategic partner in advancing critical and emerging technology. The US-India Trust Initiative, launched in February by President Trump and Prime Minister Modi, lays out a path to leverage the impressive capacity of the US tech sector to outcompete China on the development of AI, quantum, semiconductors and other critical and emerging technologies, he said.  He said he will also advance this administration's AI Action Plan, which will ensure the dominance of American AI technology in India and globally. “Our technology cooperation will require significant energy resources, another area where the United States and India can work together,” he said.

He noted that India shares a lot more in common with the US than they do with China, and "for far too long, we have not had that personal touch. And not only will I be able to bring that to New Delhi, but the President is also extremely personally engaged.” "While we might have our moment of hiccups right now, we are on the track of resolving that. Our relationship with the Indian government, with the people of India extends many more decades, and it's a much warmer relationship than they have with the Chinese,” Gor said.

“Frankly, they (India) are concerned by Chinese expansionism, and Chinese expansionism is not just on the border of India, it's all over the area," he said, adding if confirmed, he will make it a "top priority that India is pulled into our side and away from them (China).” Gor referred to Trump’s complimentary comments for Prime Minister Modi and said the Indian leader responded in kind. "We have a great foundation that I hope, if I am confirmed, to build upon.” Replying to a question on the BRICS, Gor said, "Indians have been on our side on various issues within BRICS, including several individuals in BRICS - Brazil, China have pushed for years to move away from the US dollar. India has been the stopgap for that. India is much more willing and open to engage with us than… those other individuals that are in BRICS.” When asked about India’s purchases of Russian oil and how he views India's choice in light of US tariffs and America's strategic goals, Gor said President Trump has been crystal clear on this. "They must stop buying Russian oil.” PTI YAS ZH ZH

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