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    ED raids multiple locations in Kolkata in bank loan fraud case
    Commerce & Industry Minister Shri Piyush Goyal Calls Upon Auto Component Industry To Go Global
    18th Meeting of Heads of IP Offices of BRICS Countries Held in New Delhi
    India’s Sovereign Credit Rating upgraded to 'A-' with Stable Outlook by Japan Credit Rating Agency
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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.
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.

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CropLife India Maps $1 Trillion Agri Economy Vision

September 29, 2025

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Union Minister, policymakers, academia and industry chart roadmap for crop protection’s role in achieving Viksit Bharat 2047 vision” during the National Conference 2025 New Delhi, Delhi, India (NewsVoir) CropLife India; the association of leading domestic and multinational R&D driven crop science companies; on its 45th AGM organized a National Conference. The conference witnessed the presence of Shri Shivraj Singh Chouhan, Hon’ble Union Minister of Agriculture & Farmers Welfare, Government of India; senior Government officials, experts, academia and industry leaders. Multinational R&D driven crop science companies; on its 45th AGM organized a National Conference. The conference witnessed the presence of Shri Shivraj Singh Chouhan, Hon’ble Union Minister of Agriculture & Farmers Welfare, Government of India; senior Government officials, experts, academia and industry leaders. National Conference 2025 opened with the Inaugural Session, setting the vision for Viksit Bharat 2047. This was followed by “The Regulatory Challenges and Opportunities in the Indian Context”, where regulators, policymakers and industry leaders decode India’s framework; Panel Discussion – “Empowering Farmers, Navigating Compliances & Global Standards: A State-wise View of the Agri-input (Crop Protection & Bio-stimulants) Industry & Export”, highlighting state-level complexities and how policy, compliance and innovation can empower farmers and boost exports and the CEO’s Panel – “Pesticides in the Spotlight: Villain, Hero or Scapegoat?”, featuring a candid debate on the future of crop protection. During his inaugural address Shri Shivraj Singh Chouhan, Hon’ble Union Minister of Agriculture & Farmers Welfare, Government of India, shared that, “For me, the farmer is the soul of our nation and serving them is a gift from God. From the days of food scarcity and dependence on imports, India has today become self-reliant and an emerging exporter—with agriculture growing by 10% in recent months. Yet, with our population set to reach 170 crore by 2050, ensuring food and nutritional security is our foremost duty. Nearly half our people depend on farming, most with less than two acres of land and our policies must reflect this reality. To achieve a $5 trillion economy, we must increase productivity per hectare, embrace new technologies and translate research into solutions for farmers’ real problems. Agriculture is not just an industry—it is a national responsibility. Together, the Government, scientists and industry must ensure prosperity for farmers, sustainability for our land and nourishment for humanity." Dr. Trilochan Mohapatra, Chairperson, PPV&FRA, Ministry of Agriculture & Farmers’ Welfare, Government of India said, "India’s agrochemical sector has been key to our food security and growth—from 65 million tons of food grains to nearly 350 million today. As the industry grows at 9–11% CAGR, we must balance productivity with sustainability through responsible use, strong regulation, and science-led innovation, ensuring the protection of farmers, consumers and the environment." Dr. P. K. Singh, Agriculture Commissioner, Government of India highlighted "India’s agri-input ecosystem is rapidly evolving, and digitalization will be key to its future—from AI-enabled regulatory processes to harmonized Centre–State laws. Responsible pesticide use and promotion of bio-pesticides are vital; farmers should spray only when necessary. By aligning regulation, innovation and good practices, we can empower farmers, safeguard food security and strengthen India’s global competitiveness." Dr. Vandana Tripathy, Network Coordinator (AINP) & Scheme In-charge (MPRNL), ICAR highlighted, "There is a critical need for harmonized pesticide residue data generation across diverse locations. Only by collecting comprehensive and sensitive health-related data — including pregnancy outcomes — from multiple regions can we ensure reliability and build science-based systems that safeguard public health.” Dr. Poonam Jasrotia, ADG (PP), ICAR shared, "Protecting our traditional fairs and agricultural practices with clear safeguards, while fostering global collaboration, is vital. Partnerships with countries like the US and Japan offer immense opportunities, even as we address critical gaps in regions such as Libya.” Dr. Subhash Chand, Secretary CIB&RC said, "The key challenge in the import-for-export framework is balancing Ease of Doing Business with regulatory safeguards. While flexibility for genuine exporters is important, registration certificates and confirmed international orders are essential to prevent misuse. Where companies provide credible documentation, we are open to supportive, positive solutions." Shri T. M. Tripathi, Joint Director, Department of Agriculture, Uttar Pradesh said, "There is no blanket ban on crop protection products—only crop-specific restrictions like in Basmati, where farmer training is crucial. The bigger challenge is retailer incentives: they must guide farmers toward correct, judicious use. By improving training, standardizing drone applications, and ensuring pricing transparency, we can create a fairer, more balanced ecosystem that empowers farmers and strengthens the agri-input industry." The CEO’s Panel – "Pesticides in the Spotlight: Villain, Hero or Scapegoat?" moderated by Mr Prabhu Chawla focussed on India being the world’s 2nd largest exporter and 4th largest manufacturer of crop protection products facing challenges of perception and the image building. Panellists emphasized that pesticides are medicine for plants—safe, responsible and scientific use is essential to prevent crop losses and ensure food security. With farmer training, innovation and clear communication, India can set a global benchmark in sustainable crop protection. Mr. Susheel Kumar, MD, Syngenta India said, "Crop protection is medicine for plants—without it, farmers face heavy losses. India can lead globally with integrated, sustainable solutions." Mr. Ankur Aggarwal, Managing Director, Crystal Crop Protection shared, "India uses just 400 g/ha of pesticides against the global 8,000 g/ha—our challenge is not overuse, but misuse and misperception." Mr. Sahin Ozkan, MD, Adama India reinforced, "Farmer training is the cornerstone of safe crop protection and India is fast emerging as a global agrochemical hub alongside China." Mr. Subroto Geed, MD, Corteva Agriscience India emphasised, "Farmers need end-to-end solutions—biologicals, proven chemistries and clear communication in their own language to build trust." Mr. Simon Wiebusch, CEO & MD, Bayer CropScience shared, "Pesticides are a necessity, not a luxury—farmers use them only when the benefits outweigh the costs, ensuring food security for billions." Mr. Ankur Aggarwal, Chairman, CropLife India said, “India is today the fourth-largest producer and the second-largest exporter of agrochemicals, with CropLife India members contributing over 70% of the industry’s business and providing 95% of the world’s molecules and chemistries. Our exports, worth nearly Rs. 40,000 crores, reflect the strength and global relevance of Indian agriculture. Yet, we continue to lose crops worth Rs. 2 lakh crores annually to pests and diseases—even though India’s pesticide use is just 400 grams per hectare compared to the global average of 8,000 grams. This proves that Indian farmers are efficient, not excessive. With responsible stewardship, we can cut crop losses, raise farmer incomes and help India move towards its $1 trillion agricultural economy goal. Our industry stands committed—to responsible innovation, natural farming support, integrated pest management and research-driven solutions. With government partnership and sustained investment in science, we can empower farmers, feed our 150 crore people and make in India for India and the world.” About CropLife India CropLife India is committed to advancing sustainable agriculture and it is an association of 17 R&D driven member companies in crop protection. We jointly represent ~ 70% of the market and are responsible for 95% of the molecules introduced in the country. Our member companies have annual global R & D spend of 6 billion USD and are firmly committed to engaging with the farming community to enable Safe, Secure Food Supply. Our member companies were established in India as far back as the 1950s; we continue to work hand-in-hand with the Government to build the agriculture sector – from direct investment of building factories, jobs creation, bringing in agriculture innovation and working endlessly over the years with multi-stakeholders to enhance agriculture productivity. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI

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