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    L-G Manoj Sinha reviews donation management systems at J-K's Vaishno Devi shrine
    Bandhan Bank launches EPFO-integrated PF payment service for businesses
    ESDS Launches Swaraj Nandi and Swaraj Hansa, Two Sovereign Enterprise Security Platforms Built Entirely in India
    ED raids in Bengal, 3 other states in illegal Bangladeshis, Rohingyas infiltration case
    ED raids in 4 states in illegal Bangladeshis, Rohingyas infiltration case
    TCS opens AI-focused Gemini experience centre in Kolkata
    I-T dept raises Cost Inflation Index to 384 for FY27
    Union Minister of Commerce & Industry, Shri Piyush Goyal Meets European Industry Leaders in Brussels to Deepen India–EU Industrial and Technology Co...
    India-UK CETA and Agreement on Social Security Enter into Force
    PERIODIC LABOUR FORCE SURVEY (PLFS) MONTHLY BULLETIN - June, 2026
    CCI approves acquisition by Opal Bidco Pte. Ltd. of 100% shareholding in STT GDC Pte. Ltd.
    Govt hikes windfall tax on diesel, ATF; cuts levy on petrol exports
    Goods worth USD 140 mn exported on first day of India-UK trade pact coming into effect
    CETA: Export consignment flagged from Bengaluru to UK
    India-EU TTC meet: Goyal says work program on FDI screening concluded
    India logs USD 2.8 bn current account surplus in April-May: RBI data
    Cong leader Baghel alleges BJP links to Mahadev betting app after Ebix Group chairman's arrest
    ED attaches Rs 158-crore assets of Delhi hospital in PMLA probe
    Mahadev app case: Chhattisgarh court sends Ebix chairman Vikas Garg to 10-day ED custody
    Bengal seeks to leverage India-UK CETA, eyes export boost for labour-intensive sectors
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    July 16, 2026
    Show AI Summary
    Donation management safeguards require transparent accounting, secure precious-metal handling, audits and adherence to prescribed banking and statutory norms.
    Donation-management governance at the Vaishno Devi shrine was reviewed with emphasis on transparency, accountability and compliance with standard operating procedures. The review covered collection, counting, accounting, custody and utilisation of offerings, supported by verification procedures, surveillance, banking safeguards and periodic audits. Security protocols also govern the handling, storage, transportation, processing and refining of precious-metal offerings. The review took place amid a pending complaint alleging irregularities in silver offerings, with complete records sought regarding action taken.
    July 16, 2026
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    EPFO-integrated provident fund payments streamline statutory compliance through digital banking, with real-time confirmations and instant challan downloads for businesses.
    EPFO-integrated provident fund payment service enables business customers to initiate statutory PF payments through the EPFO portal and complete transactions using the bank's internet banking platform. Real-time transaction confirmations and instant challan downloads support faster processing, cash-flow management and timely compliance with EPFO payment requirements.
    July 16, 2026
    Show AI Summary
    Privileged access governance and explainable security monitoring support auditable, sovereign enterprise cybersecurity across private and air-gapped deployments.
    Swaraj Nandi provides privileged-access management through credential vaulting, automated rotation, Zero-Trust approvals, multi-factor authentication, session recording and audit reporting. Swaraj Hansa provides AI-assisted security information and event management by collecting, correlating and triaging security signals with explainable alerts and human-owned decisions. Both platforms support on-premise, private-cloud and relevant air-gapped deployment models, and their compliance architecture is mapped to the RBI IT Framework, SEBI CSCRF, DPDP Act, PCI-DSS, ISO 27001 and NIST CSF.
    July 16, 2026
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    Money-laundering investigation targets alleged foreign-funded network facilitating illegal infiltration, forged identity documents and economic rehabilitation of immigrants.
    A money-laundering investigation examined an alleged syndicate facilitating illegal infiltration, forged Indian identity documents and settlement of Bangladeshi nationals and Rohingyas. Investigators alleged that public charitable trusts receiving foreign contributions channelled funds through multiple bank accounts, mule accounts and layered transactions to support economic rehabilitation through cash assistance, employment and income-generating arrangements. Searches were conducted under the Prevention of Money Laundering Act.
    July 16, 2026
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    Money-laundering investigation examines alleged foreign-funded networks supporting illegal infiltration, forged documents, and economic settlement of migrants.
    A money-laundering investigation concerns an alleged network facilitating illegal entry and settlement of Bangladeshi and Rohingya nationals. The alleged scheme involved forged identity and travel documents, charitable trusts receiving overseas contributions, and diversion of funds through bank accounts, mule accounts and layered transactions. Suspected fund use included settlement support, documentation, employment, cash assistance and income-generating assets. Searches examined the alleged infiltration, documentation and financial-support network.
    July 16, 2026
    Show AI Summary
    Agentic AI innovation centre enables consumer businesses to co-create, test and scale enterprise AI solutions across operational functions.
    TCS launched a Gemini Experience Centre in Kolkata with Google Cloud to enable consumer businesses to co-create, test and scale AI-led solutions. The centre showcases agentic AI applications for store operations, supply-chain management, omni-channel retail and customer service, serving retail, consumer packaged goods, travel, tourism and hospitality enterprises. The initiative uses Gemini Enterprise-based industry- and context-aware AI agents and seeks to accelerate agentic AI adoption and support movement from AI pilots to enterprise-scale deployment.
    July 16, 2026
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    Cost Inflation Index enables inflation-adjusted long-term capital gains calculations through indexed acquisition cost for eligible capital asset transfers.
    The Cost Inflation Index for financial year 2026-27 is 384 for computing inflation-adjusted long-term capital gains on transfers of capital assets, including immovable property, securities and jewellery. It is used to determine indexed cost of acquisition by adjusting purchase cost for inflation. Long-term classification generally requires holding exceeding 36 months, with stated periods of 24 months for immovable property and unlisted shares and 12 months for listed securities.
    July 16, 2026
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    India-EU industrial and technology cooperation advances through trade facilitation, resilient supply chains, digital innovation and expanded market access.
    India-EU industrial and technology cooperation was advanced through engagements addressing industrial collaboration, technology partnerships, bilateral trade opportunities and business-to-business cooperation. Discussions covered trade facilitation, investment flows, supply-chain resilience, digital innovation, competitiveness and regulatory challenges. The interactions emphasised industry-led growth, greater market access for Indian enterprises and innovation-driven partnerships under the Trade and Technology Council framework.
    July 16, 2026
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    Preferential India-UK trade framework introduces broad zero-duty export access, self-certified origin documentation, and social-security contribution relief for temporary professionals.
    India-United Kingdom CETA entered into force with preferential tariff treatment, including zero-duty access in the United Kingdom for nearly 99 per cent of India's exports. The Agreement covers goods, services and cooperation in customs, digital trade, financial services, telecommunications, intellectual property and professional services. The associated Agreement on Social Security exempts Indian professionals on temporary United Kingdom assignments from double social-security contributions for up to five years. Rules of Origin certification was operationalised through self-certified Certificates of Origin issued on the eCoO 2.0 platform.
    July 16, 2026
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    Labour market indicators showed stable overall participation, employment and unemployment, with marginal urban improvement and softer rural unemployment.
    Monthly labour-market estimates for persons aged 15 years and above, compiled under the Current Weekly Status approach, show stable overall labour-force participation, worker population ratio and unemployment rate in June 2026. Urban labour-force participation and worker population ratio improved marginally, while rural participation and employment remained stable. Female labour-force participation was broadly stable month-on-month. Rural unemployment eased slightly, urban unemployment rose marginally from the preceding month, and urban unemployment declined on a year-on-year basis.
    July 16, 2026
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    Competition clearance governs full acquisition of a data-centre provider alongside co-investor economic interests in the transaction.
    Competition approval concerns Opal Bidco Pte. Ltd.'s acquisition of the entire shareholding in STT GDC Pte. Ltd., a data-centre provider. The transaction also provides for specified co-investors to acquire economic interests in STT GDC on a see-through basis. STT GDC operates in India through an indirect subsidiary and is among multiple data-centre participants active in India.
    July 16, 2026
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    Windfall tax on petroleum exports revises diesel and aviation fuel levies while reducing the petrol export levy.
    Special Additional Excise Duty on petroleum-product exports was revised from 16 July 2026, increasing the levy on diesel and aviation turbine fuel exports while reducing it on petrol exports. Duty rates on petrol and diesel cleared for domestic consumption remained unchanged. The windfall tax framework seeks to support domestic fuel availability and discourage exporters from benefiting from differences between domestic and global fuel prices during elevated crude-oil prices.
    July 15, 2026
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    Duty-free market access under the India-UK trade pact expands exports while preserving safeguards for procurement and policy space.
    The India-UK Comprehensive Economic and Trade Agreement provides duty-free access for nearly 99 per cent of Indian exports and includes reciprocal government-procurement access subject to safeguards. India retains MSME preferences, limits covered procurement to selected central entities, excludes strategic sectors, and applies minimum contract thresholds. The agreement preserves compulsory licensing and permits withdrawal of certain concessions if a future UK carbon tax adversely affects Indian exports. Its gender, SME, environment, and labour chapters contain no dispute-settlement provisions.
    July 15, 2026
    Show AI Summary
    India-UK trade agreement expands duty-free market access and tariff reductions for exports, services, manufacturing and small enterprises.
    India-UK Comprehensive Economic and Trade Agreement (CETA) is stated to provide duty-free access in the UK market for 99 per cent of Indian products and to reduce or eliminate UK import tariffs across key product categories. It is expected to support Karnataka exports in manufacturing, agricultural produce, processed food, electronics, aerospace and medical devices, with certain tariff reductions phased out over time. Mode 1 services provisions are identified as beneficial to Bengaluru's IT industry, while awareness programmes and investment roadshows are proposed to help exporters and attract investment.
    July 15, 2026
    Show AI Summary
    Foreign investment screening cooperation advances investment flows alongside trade, technology, supply-chain resilience and prospective investment-protection commitments.
    India and the European Union concluded a work programme on foreign direct investment screening, exchanging best practices to facilitate investment flows. Trade and Technology Council cooperation addresses market access, standards harmonisation, supply-chain requirements, deep-tech innovation and critical dependencies. The parties also discussed free trade agreement ratification, World Trade Organization reform, and prospective investment-protection and geographical-indications agreements. The Council provides an institutional mechanism for cooperation on trade, trusted technology and economic security.
    July 15, 2026
    Show AI Summary
    Balance of payments reporting shows a current account surplus despite a wider trade deficit and portfolio investment outflows.
    Balance of payments data for April-May 2026 records a current account surplus, supported by increased net services receipts, higher inward remittances and a marginal reduction in net income outgo. The merchandise trade deficit widened as imports rose more than exports. The overall balance of payments moved into deficit, while net foreign direct investment increased and net foreign portfolio investment recorded a larger net outflow.
    July 15, 2026
    Show AI Summary
    Online betting money laundering investigation examines alleged proxy accounts, simulated salary payments, cross-border routing, and custodial investigation of the money trail.
    Money-laundering allegations concerning an online betting syndicate involve purported routing of betting proceeds through fictitious or proxy bank accounts, simulated salary payments, share-capital investments, and foreign institutional channels. An Ebix Group chairman was arrested in connection with the alleged money trail and remanded for investigation. The investigating agency states that prosecution complaints have been filed and that separate state economic-offence and central investigations address connected cases. Political-link allegations were denied, and the stated laundering assertions remain under investigation.
    July 15, 2026
    Show AI Summary
    Money laundering asset attachment addresses alleged fund diversion through false invoices, inflated construction costs, shell entities and accommodation entries.
    Provisional attachment under the Prevention of Money Laundering Act was undertaken in an alleged financial-fraud investigation involving a hospital company. The allegations concern diversion of company funds through purportedly false medical-implant invoices and inflated hospital-construction costs routed through a related company. Accommodation-entry operators and shell entities were allegedly used to conceal the origin of illicit funds. The proceeding arose from a Serious Fraud Investigation Office chargesheet against the hospital promoters.
    July 15, 2026
    Show AI Summary
    Money-laundering investigation into online betting proceeds leads to custodial remand amid allegations of layered fund routing.
    A special PMLA court remanded Ebix Group chairman Vikas Garg to Enforcement Directorate custody in an investigation into alleged money laundering linked to online betting operations. The agency alleged that betting proceeds were routed through accommodation entries, shell entities and layered transactions into entities owned or controlled by Garg, and were used to acquire shares, securities and other assets. It also alleged dissipation or encumbrance of Ebix shares and an attempt to mortgage or sell property treated as proceeds of crime.
    July 15, 2026
    Show AI Summary
    India-UK CETA tariff elimination strengthens export prospects for labour-intensive leather, jute, jewellery and agricultural products in British markets.
    India-UK CETA tariff concessions are expected to improve West Bengal's export competitiveness in the United Kingdom. Duty-free access applies to tea, mangoes and betel leaves, while import duties on jewellery have been removed. Labour-intensive leather, jute, and gems and jewellery sectors are identified as principal beneficiaries, with tariff removal also improving seafood export prospects. Further competitiveness measures are proposed to help exporters use the agreement's trade opportunities.

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      News and Press Release

      17 FDI Proposals Approved

      September 5, 2008

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      Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 26th August, 2008, Finance Minister, Shri P. Chidambaram has approved 17 Proposals of Foreign Direct Investment amounting to Rs. 1844.32 Crore approximately.  The proposals relate to Ministries/Departments, namely, Chemical & Petrochemicals, Commerce, Economic Affairs, Industrial Policy & Promotion, Information & Broadcasting, Power, Urban Development, Information Technology, and Telecommunication.  

                  Details of Proposals approved are as follows:-

      Sl. No.

      Name of the applicant

      Particulars of the proposal

      FDI/NRI inflows (Rs. In Crore)

      CHEMICAL & PETROCHEMICALS

      1

      M/s Biotor Industries Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make downstream investment.

      240.00

      COMMERCE

      2

      M/s Euchner Industie Beteiligungen Gmbh., Germany

      To set up a WOS to carry out the wholesale trade in electronic equipment and accessories.  Proposal attracts Press Note 1 of 2005.

      1.75

      3

      M/s Aran Kitchenworld India Pvt. Ltd.

      To acquire 49% equity to set up stores for single brand retail trading.

      2.45

      4

      M/s Celio International Belgium

      To acquire 50.01% equity for retail trading of products under the single brand.

      12.00

      ECONOMIC AFFAIRS

      5

      M/s Marigold International Pvt. Ltd., Mumbai

      Conversion of operating company into an operating cum holding company to make downstream investment.

      0.04

      6

      M/s JRG Securities Ltd., Kerala

      Issuance of warrants to be converted into equity shares.

      57.59

      7

      M/s Velley Energy Investment Holdings (Mauritius) Ltd., Mauritius

      Induction of FDI by way of transfer of equity shares.  The company is engaged in commodity broking.

      No Fresh Inflow

      INFORMATION & BROADCASTING

      8

      M/s IBN Lokmat News Pvt. Ltd., New Delhi

      To induct foreign investment (direct or indirect) up to 13% of the issued, subscribed and paid up share capital including present indirect foreign holding in the company by reason of foreign investments as well as future foreign holding.

      No Fresh Inflow

      9

      M/s BBCW Channels Pvt. Ltd., Mumbai

      To undertake downlinking and distribution of television channels in India.

      No Fresh Inflow

      POWER

      10

      M/s Athena Infraprojects Pvt. Ltd., New Delhi

      Induction of foreign equity up to 49% in an investing company in infrastructure sector.

      220.00

      URBAN DEVELOPMENT

      11

      M/s Ramky Infrastructure Ltd., Hyderabad

      Post facto approval for conversion of operating company into an operating cum holding company to make downstream investment.

      400.00

      ECONOMIC AFFAIRS

      12

      M/s Unistock Pvt. Ltd

      (i) To take note of amalgamation, (ii) conversion of operating company into an operating cum holding company, and (iii) swap of shares.

      No Fresh Inflow

      INFORMATION & BROADCASTING

      13

      M/s BBC Worldwide (India) Pvt. Ltd

      To make an amendment in the existing approval letter for inclusion of the term "downlinking".

      No Fresh Inflow

      ECONOMIC AFFAIRS

      14

      M/s SG Securities (Singapore) Pte. Ltd., Singapore

      To invest in/acquire 35% equity shares to carry on the activities of Custodial Services.  Proposal attracts Press Note 1 of 2005.

      28.00

      15

      M/s VLCC Health Care Ltd., Delhi

      Conversion of Share Warrants into equity shares and redemption of Preference shares.

      84.15

      TELECOMMUNICATION

      16

      M/s Broadband Pacenet (India) Pvt. Ltd., Mumbai

      Induction of foreign equity by way of subscribing to or acquisition of shares up to 74% equity of the company.

      17.336

      17

      M/s Quippo Telecom Infrastructure Ltd.

      To increase foreign equity from 65.63% to 82.55% in Telecom Sector.

      781.00

                  The following 9 (Nine) proposals have been deferred:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s Universal Biofuels Pvt. Ltd., Hyderabad

      (i) To incorporate and make downstream investment in subsidiaries, and (ii) to issue and allot equity shares to eligible Non-Resident Investors through participation in the IPO, and/or in the form of any Pre-IPO Placement and for any preferential issue of equity shares that may be issued by the company at a future date.

      2

      M/s Krishnapatnam Port Co. Ltd., Hyderabad

      Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval and to make downstream investments in companies and/ or to establish subsidiaries in future.

      3

      M/s Tata Investment Corporation Ltd., Mumbai

      To issue Zero Coupon Convertible Bonds (ZCCB) with detachable warrants to the equity shareholders of the company, on a rights basis, which includes person resident outside India.

      4

      M/s RISH PTE Ltd., Cock Islands

      Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval.

      5

      M/s RISH PTE Ltd., Cock Islands

      Post-facto approval for the FDI already brought in under automatic route, which otherwise requires FIPB approval.

      6

      M/s Inunit U.S. Holdings Inc. USA

      To acquire equity share capital through multiple stock market transactions.

      7

      M/s Ralf Schneider Holding Gmbh, Germany

      To set up a WOS.  Proposal attracts Press Note 1 of 2005.

      8

      M/s Asia Motorworks Holdings Ltd., Mumbai

      Induction of foreign equity by way of subscribing to fully and compulsorily convertible debentures and conversion of operating company into an operating cum holding company.

      9

      M/s ABN-AMRO Securities (India) Pvt. Ltd.

      To enlarge the services by offering value added financial services (non fund based) to their clients (both individual and institutional)

      The following one (1) proposal has been rejected:

      Sl. No

      Name of the applicant

      Particulars of the proposal

      1

      M/s Elken International (I) Pvt. Ltd.

      To undertake cash and carry wholesale trading for the activities for which approval for test marketing was already obtained

       

                  The proposal of M/s Best Auto Ltd., New Delhi has been advised to access auto route.

                  The proposals of M/s Aditya Birla Telecom Ltd., and M/s Daiichi Sankyo Company Ltd., Japan have been recommended for the consideration of CCEA, as the investment involved in the proposal is above Rs. 600.00 Crore.

       

      *******

      BSC/SS/GN-218/08

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