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    Rupee rises 21 paise to close at 95.22 against US dollar
    Record 7.5 cr ITRs filed for AY'27, deadline ends midnight tonight
    Monthly Review of Accounts of Union Government of India upto the month of July 2026 (FY 2026-27)
    Subhash Chandra drops mention of Ambani allegations, shifts focus to settling Essel debt
    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
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    India–Chile CEPA Negotiations Advance; Commerce Secretary Shri Rajesh Agrawal Meets Chilean Vice-Minister Paula Estévez Weinstein
    Sugar prices remain firm across India despite govt measures to check rise
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August 31, 2026
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Rupee exchange-rate support through suspected intervention and FCNR(B) inflows offset pressure from dollar strength and higher crude prices.
Rupee exchange-rate movement reflected a recovery from early losses to close stronger against the US dollar, amid market expectations of Reserve Bank of India support at lower trading levels. Pressure arose from higher US Treasury yields, possible US rate-hike expectations and a broad dollar rally. Suspected intervention, FCNR(B)-related foreign-currency flows and the special USD-INR forex swap facility supported sentiment, while rising crude prices, geopolitical supply risks and foreign institutional equity outflows remained adverse factors.
August 31, 2026
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Income-tax return filing for non-audit business and professional taxpayers closes at midnight, requiring use of applicable forms.
Income-tax return filing for Assessment Year 2026-27 reaches its due date on 31 August 2026 for taxpayers having business or professional income who are not subject to audit. Such taxpayers may file the applicable ITR-3, ITR-4, ITR-5 or ITR-7. ITR-3 applies to individuals and Hindu Undivided Families with proprietary business or professional income, ITR-4 to small and medium taxpayers, and ITR-5 to firms, limited liability partnerships and cooperative societies.
August 31, 2026
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Monthly fiscal accounts track receipt composition, expenditure allocation, tax devolution, interest payments, and major subsidy outgo through July.
Union Government monthly accounts through July 2026 record total receipts comprising net tax revenue, non-tax revenue and non-debt capital receipts, with tax devolution transferred to State Governments. Total expenditure is divided between revenue and capital expenditure. Revenue expenditure includes interest payments and major subsidies.
August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
Synthetic-drug trafficking enforcement involved two intelligence-led railway-station operations targeting amphetamine and MDMA transportation and receipt. Baggage intercepted at Bengaluru contained a crystalline substance preliminarily indicating amphetamine, while a separate Pune interception recovered substances purported to be amphetamine and MDMA tablets. The contraband and related packing material were seized under the Narcotic Drugs and Psychotropic Substances Act, 1985. Follow-up delivery action identified alleged receivers, and the carriers and alleged receivers were arrested under that statutory framework.
August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
India-Chile CEPA negotiations are being advanced toward conclusion by the end of the year through a balanced and commercially meaningful framework. The proposed partnership is intended to strengthen bilateral economic ties, expand trade and investment, and create equitable opportunities for businesses and people in both countries. Cooperation is envisaged in technology, talent and resilient supply chains, alongside enhanced engagement in healthcare, pharmaceuticals, energy, minerals, agriculture, machinery and engineering.
August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.

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Customs & Trade

Rice Master Global Expands its Presence Across 12+ West African Countries

September 22, 2025

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For decades, rice has been a staple food in West Africa, feeding millions of families every single day. With growing populations, rising demand, and an increasing reliance on imported rice, the region has become one of the most important global markets for rice exporters. Among the leading suppliers from India, Rice Master Global Ltd has emerged as a trusted partner, exporting IR64 Parboiled Rice 5% Broken directly from India to various destinations across West Africa. At Rice Master Global, we are proud to be not just exporters, but direct manufacturers, ensuring end-to-end control over the supply chain. This allows us to deliver consistent quality, competitive pricing, and reliable shipments — three factors that make us a preferred choice for importers and distributors across the African continent. Why IR64 Parboiled Rice 5% Broken? IR64 Parboiled Rice 5% Broken is one of the most widely consumed rice varieties in West Africa. Its popularity stems from its: • Affordable pricing – making it accessible to a wide consumer base. • Good cooking quality – fluffy texture, non-sticky grains, and appealing aroma. • High demand for daily consumption – especially in staple dishes across Ghana, Togo, Benin, Guinea, and more. • Nutritional value – parboiling preserves vitamins and minerals, making it a healthier choice. This variety has become the backbone of rice imports in West Africa, and Rice Master Global is committed to ensuring a steady and uninterrupted supply. Our Key Export Destinations in West Africa Rice Master Global has built a strong logistics and trade network across multiple countries in West Africa. Below are the main countries we serve and the ports that connect our shipments to local markets: • Ghana – Tema Port (a vital entry point for rice imports, supporting large-scale distribution within the country). • Togo – Lomé Port (strategically important for both local consumption and transit to neighbouring landlocked countries). • Benin – Cotonou Port (a major hub that also serves as a gateway for rice imports into Niger and Burkina Faso). • Burkina Faso – Served via Lomé and Cotonou Ports (landlocked country depending on efficient overland logistics). • Ivory Coast (Côte d’Ivoire) – Abidjan Port (one of the busiest ports in West Africa, crucial for large rice shipments). • Guinea – Conakry Port (a lifeline for rice imports into the Guinean market). • Guinea-Bissau – Bissau Port (key for smaller-scale yet essential rice supply to this nation). • Mali – Served via Abidjan, Dakar & Lomé Ports (as a landlocked country, Mali relies heavily on transit corridors). • Senegal – Dakar Port (a central hub for rice trade in West Africa). • Liberia – Monrovia Port (supports growing demand for rice in Liberia). • Sierra Leone – Freetown Port (a major entryway for rice imports into the country). Through this extensive network, Rice Master Global ensures that rice reaches wholesalers, distributors, and consumers efficiently across the region. Building Strong Trade Partnerships Our success in West Africa is built on mutual trust and long-term relationships. By working closely with importers, wholesalers, and distributors, we have established partnerships that go beyond transactions. We understand the critical role rice plays in food security across Africa, and we view our work not just as a business, but as a contribution to the well-being of millions of people. By maintaining consistency in both quality and supply, we have gained the confidence of governments, trade associations, and private buyers who look to us as a reliable supplier in times of growing demand. Logistics & Supply Chain Strength Managing rice exports to so many countries requires a strong and reliable logistics network. At Rice Master Global, we have optimized our supply chain with: • Direct manufacturing and sourcing – eliminating middlemen to reduce costs. • Strategic shipping arrangements – ensuring timely vessel bookings to major ports like Tema, Abidjan, Conakry, Dakar, and Lomé. • Efficient inland transport – supporting landlocked countries such as Mali and Burkina Faso with seamless overland connections. • Quality assurance – every shipment is inspected and certified to meet international standards. This ensures that our rice consistently reaches the market in perfect condition, maintaining freshness, quality, and affordability. Supporting Food Security in Africa Rice consumption in West Africa continues to grow at a rapid pace. With limited local production in many countries, imports remain essential to meet the rising demand. By ensuring a reliable supply of IR64 Parboiled Rice 5% Broken, Rice Master Global is actively contributing to food security in the region. Our goal is not only to expand our presence but also to support sustainable trade partnerships that strengthen the bond between India and Africa. Vision for the Future Looking ahead, Rice Master Global is committed to further expanding its footprint across Africa. With increasing investments in supply chain efficiency, stronger collaborations with trade partners, and a focus on customer satisfaction, we aim to remain a leading name in the rice export industry. From India’s rice fields to African homes, we are proud to be part of a journey that nourishes millions every single day. Conclusion Rice Master Global’s presence across 12+ West African nations is a testament to our commitment to excellence, reliability, and long-term partnership building. By delivering IR64 Parboiled Rice 5% Broken through major ports such as Tema, Lomé, Abidjan, Conakry, Dakar, and Monrovia, we are not just exporting rice — we are exporting trust, quality, and prosperity. Together, let us continue to strengthen the ties between India and Africa, paving the way for a brighter and food-secure future. Visit https://ricemasterglobal.com/ to learn more about their premium rice offerings. (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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