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    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
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September 3, 2026
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Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
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NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
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Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
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GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.
September 3, 2026
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Money laundering linked to hybrid ganja smuggling involves alleged illicit cross-border transfers and foreign-exchange violations.
Enforcement Directorate searches form part of a money-laundering investigation into alleged hybrid ganja smuggling from Thailand. A case under the Prevention of Money Laundering Act concerns suspected laundering of drug-trafficking proceeds and transfer of funds to Thailand through illegal channels. The inquiry also examines possible foreign-exchange violations and an alleged arrangement involving carriers, visas and funds for transporting narcotic substances.
September 3, 2026
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Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
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
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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.

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'No contravention of law': SC closes case against Vantara after SIT clean chit

September 15, 2025

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New Delhi, Sep 15 (PTI) The Supreme Court on Monday said there was "no contravention of law" while accepting a clean chit given by its special investigation team to Vantara, the zoological rescue and rehabilitation centre in Gujarat's Jamnagar.

A bench of Justices Pankaj Mithal and P B Varale took the SIT's report on record besides noting the probe team's satisfaction on the compliance and regulatory measures in Vantara.

The top court on August 25 constituted a four-member SIT headed by a former apex court judge while hearing two PILs alleging irregularities against Vantara on the basis of reports in the media and social media besides complaints from NGOs and wildlife organisations.

It came on record that the SIT, after a thorough investigation in coordination with multiple agencies "clearly opined" and held no violation of the Wildlife (Protection) Act, 1972, Recognition of Zoo Rules, 2009, CZA guidelines, Customs Act, 1962, Foreign Trade (Regulation and development) Act, 1992, Foreign Exchange Management Act, 1999, Prevention of Money Laundering Act, 2002, Bharatiya Nyaya Sanhita, 2023 or the Convention of International Trade in Endangered Species of wild Fauna and Flora.

"The Court has no hesitation in accepting the conclusion so drawn in the report. Thus, as no contravention of law has been reported by the SIT, the complaints particularly those listed in Schedule A in the summary of the report stand closed," the bench said.

Relying on the SIT report, the bench held Vantara received the animals "by rescuing them from various situations and housing them in the rescue centre for conservation, and breeding programs" through a complex multi-layered or multi-jurisdictional statutory approvals, procedure and documentation.

"The imports of the animals have been made only after issuance of valid permits. Once the imports of animals is fully documented and supported by valid permits, it is not open for anyone to go beyond the said permits and to dispute the validity attached to such permits or official acts," the verdict held.

The bench observed the import clearance in India was after various checks and compliances regulated and enforced by multiple statutory authorities as recorded by the SIT in the summary of the report.

"It is pertinent to mention that repeated inquiries into the affairs of Vantara pursuant to multiple complaints/petitions filed from time to time have culminated with findings of no violation of law whatsoever. Thus, there is apparently no merit in any of the allegations of animal smuggling or laundering," it added.

On the aspect of welfare standards to be adopted and followed for the conservation, the court said the SIT after taking expert opinion found Vantara facilities exceeded prescribed benchmark and mortality figures aligned with the global zoological averages.

"We are more than satisfied that the facilities at Vantara in certain respects exceeds the prescribed standards of animal husbandry, veterinary care and welfare as well as the statutory benchmarks laid down by the Central Zoo Authority," the bench said.

The verdict said independent bodies such as Global Human Society after site inspection and audit through a team certified that Vantara not only had complied with but had exceeded internationally recognised benchmarks. The apex court said the periodic inspection by the Central Zoo Authority and the Chief Wildlife Warden of Gujarat, along with assessments by CITES, reinforced the conclusion and the allegations of deficiency in welfare standard were, therefore, unfounded.

"On the so-called allegations of misuse of carbon credits, water resources, or financial impropriety, the SIT has found them to be baseless relying upon responses from agencies like CBI, DRI and ED." The bench noted that the SIT deprecated the allegations and aspersions cast upon the statutory authorities, court-appointed high power committee besides courts.

"Vantara in the past has been subjected to judicial scrutiny number of times and the allegations were rejected most of the times at every level/forum," the bench said.

"The SIT has noted with approval the decisions of the High Powered Committee headed by Justice Deepak Verma (former Judge of the Supreme Court) with regard to matters related to transfer of elephants in India," it said.

The apex court directed the proceedings of the report of the SIT to be re-sealed and kept confidential but directed a "complete copy of the same" to be shared with Vantara, subject to an undertaking that it won't be disclosed to third parties.

"The summary of the report which is exhaustive in itself as it does not carry comparable sensitiveness or attract the same degree of confidentiality but provides a faithful account of the conclusions reached by the SIT, shall not be treated as confidential," it said.

The judgment said the complaints and petitions including newspaper reports, articles, catalogues stood "duly investigated and closed".

No further complaint or proceedings based upon such same set of allegations should be entertained before any judicial statutory or administrative forum, it added.

The top court directed Vantara and the authorities concerned to consider and implement the measures suggested by the SIT.

It allowed Vantara to pursue its legal remedies for deletion of any offending publication or for any action against those responsible for the misinformation or for actions for defamation or private complaints under the BNS, 2023.

The top court appreciated the painstaking efforts of the SIT for conducting the inquiry with commendable, thoroughness and fearlessness and with all promptness and directed an honorarium of Rs 9 lakh each to paid to three members of the SIT.

"We are not granting any remuneration to the fourth member, Anish Gupta (IRS) of the SIT as he is still a serving member," it clarified.

On August 14, the top court said the plea filed by petitioner C R Jaya Sukin seeking to get a monitoring committee formed to return the captive elephants in Vantara to their owners was "completely vague". PTI PKS AMK AMK

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