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    Banks mobilise USD 127.23 billion in deposits from Indian diaspora: RBI
    CBI Arrests CGST Additional Commissioner and Two others in Rs. 40 Lakh Bribery Case in Raigad, Maharashtra
    Haryana: SGST collections grow 29 pc in first 5 months of 2026-27
    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
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September 2, 2026
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Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
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GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
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State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
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NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
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RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
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Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
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Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
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Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.
September 2, 2026
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Data centre ease-of-doing-business reforms target reliable power, prepared land, streamlined approvals and building standards for faster infrastructure deployment.
Ease-of-doing-business reforms for India's data-centre ecosystem focus on faster and sustainable infrastructure deployment through reliable power, ready-to-use land, streamlined approvals and suitable building regulations. Proposed power measures include cluster-based transmission planning, first-day sanctioned load, dual feeders and cross-border renewable-energy procurement. Data-centre-ready land banks and power-ready parcels are intended to reduce development timelines. The National Building Code 2026 recognises data centres under Group E and contains a dedicated annex on fire-risk assessment and data-centre-specific performance indicators.
September 2, 2026
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Trade facilitation and customs cooperation drive follow-up action on connectivity, regulatory coordination, investment promotion and bilateral commercial engagement.
India-Afghanistan bilateral trade and economic cooperation is being advanced through institutional engagement on trade facilitation, customs cooperation, connectivity, investment and commercial exchange. Priority areas include customs and data-sharing cooperation, visa facilitation for traders, banking and financial cooperation, pharmaceutical and agricultural trade, energy cooperation, tariff concessions, cargo connectivity and port-related matters. Follow-up action covers regulatory cooperation, improved connectivity, investment promotion and business-to-business engagement.
September 2, 2026
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Residential rooftop solar subsidy requires eligibility, prior approval, registered installation, net metering, commissioning, and verified bank details for direct transfer.
PM Surya Ghar Muft Bijli Yojana provides central financial assistance for eligible grid-connected residential rooftop solar systems, capped at Rs. 78,000 for systems of three kilowatts or more. Applicants must be Indian citizens who own a suitable house, hold a valid electricity connection, and have not received an earlier solar-panel subsidy. Applications require portal registration, distribution-company feasibility approval, installation through a registered vendor, net metering, inspection, commissioning and submission of bank details. Assistance is transferred directly after verification. State-specific net-metering procedures, approvals and additional incentives may apply.
September 2, 2026
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Sovereign credit rating upgrade reflects solid growth, stronger financial systems, and improving fiscal and external resilience.
JCR upgrades India's foreign-currency and local-currency long-term issuer ratings to A- with a stable outlook, citing sustained economic growth, productivity-oriented policies and improved financial-system soundness. Fiscal constraints include elevated deficits, intergovernmental fiscal transfers, electoral-cycle sensitivity, and high combined government debt and interest burdens. Greater emphasis on infrastructure capital expenditure has improved the quality of fiscal spending. External resilience is supported by a contained current account deficit, services surplus and foreign-exchange reserves exceeding short-term external debt.
September 2, 2026
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Personal insolvency bench constitution and repayment-plan eligibility remain contested where a larger tribunal bench stays a third-member order.
Personal insolvency proceedings raised a challenge to the National Company Law Tribunal's authority to constitute a five-member bench after a split verdict. The challenge contended that the mechanism for differing views permits reference to another member or members, but does not authorise a five-member bench. The larger bench stayed the third member's order, restricted asset alienation, and suspended an order permitting settlement of personal-guarantee claims. The dispute concerned the validity of that bench, the split-verdict reference procedure, repayment-plan eligibility, and pending creditor appeals.
September 2, 2026
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Digital lending app verification enables borrowers to identify regulated lenders, grievance channels, and warning signs before accepting loans.
GoCredit's Loan App Checker allows borrowers to search lending apps against the public Digital Lending App directory and identify the regulated lender, grievance contact and RBI Ombudsman escalation route where a match exists. Regulatory reporting by regulated entities enables app-level verification, while borrowers should also check the lender named in app disclosures and loan agreements. A directory listing is a regulated-entity disclosure, not RBI approval or endorsement. Unmatched apps should be assessed through verification steps and reported through official channels where appropriate.
September 2, 2026
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Rupee depreciation in early trade reflected oil-price pressures, risk aversion, higher Treasury yields and broad dollar strength.
Early foreign-exchange trading saw the rupee weaken against the US dollar amid renewed US-Iran tensions, risk aversion, higher Brent crude prices, and a stronger dollar. Safe-haven demand, inflation concerns linked to potential oil-supply disruption, expectations of a September Federal Reserve rate increase, and higher US Treasury yields supported the broad dollar rally. RBI monitoring of the rupee's decline was noted.
September 2, 2026
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Responsible AI governance requires ethical safeguards, privacy protection, accountability and adaptive oversight to build lasting corporate stakeholder trust.
Responsible artificial intelligence governance requires continuous innovation, inclusive development, responsible deployment and trust-based governance. AI systems should be ethical, safe, transparent, fair and human-centric, with safeguards for privacy, bias, security and accountability. Proportionate and adaptive regulation should provide clear accountability, standards, monitoring, auditability and grievance redressal. Good governance, cybersecurity, personal data protection and responsible AI together strengthen organisational resilience, stakeholder trust, transparency and sustainable innovation.
September 2, 2026
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E-auction of surplus public land enables transparent outright sale of RINL parcels through registered, KYC-verified bidding.
National Land Monetization Corporation will facilitate the e-auction and outright sale of 459 encumbrance-free RINL land parcels, including residential plots and parcels suited for commercial and logistics use. Competitive bidding will occur through the RailTel E-Nivida e-procurement platform. Participation requires online registration, KYC verification, and plot-wise submission of an earnest money deposit within prescribed timelines. The process supports transparent monetisation of surplus land and non-core public assets.
September 2, 2026
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Competition approval for infrastructure finance restructuring covers acquisition, minority transfer, investment divestment, and merger of regulated NBFCs.
Competition Commission of India approval applies to the acquisition of Aseem Infrastructure Finance Limited by TPG Nicobar SG Pte. Ltd., a subsequent minority share acquisition by ICICI Bank Limited, and Aseem's divestment of its shareholding in NIIF Infrastructure Finance Limited to National Investment and Infrastructure Fund II. Following the acquisition, Climate Finance India Private Limited is intended to merge into Aseem as the surviving entity. The entities involved include RBI-registered non-deposit taking NBFCs operating in infrastructure finance, investment and credit, and infrastructure debt financing.
September 2, 2026
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Healthcare merger approval enables KCIL to acquire fertility and specialty hospital businesses alongside related equity issuances and investment.
Competition Commission approval covers KCIL's acquisition of up to 100% equity shareholding in AFCPL and 100% equity shareholding in ASHPL. The combination includes KCIL issuing equity shares and optionally convertible debentures to AHLL, representing 9.9% fully diluted shareholding as partial consideration, together with a further KCIL equity investment by Arvon Investments Pte. Ltd. KCIL operates mother and baby care hospitals, while AFCPL provides assisted reproductive treatment and reproductive-medicine services.
September 1, 2026
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Money-laundering investigation into alleged District Mineral Fund diversion examines purported liaison activity and asset acquisition through proceeds of crime.
Money-laundering proceedings under the Prevention of Money Laundering Act concern alleged diversion of District Mineral Fund resources through the Chhattisgarh Seed Corporation. The investigation alleges siphoning of public funds by contractors in collusion with government officials and political executives. A businessman was identified as an alleged liaisoner and financial coordinator between public servants, district authorities and private vendors. Allegations also include receipt of commissions, acquisition of immovable assets from purported proceeds of crime, non-production of records, and contradictory statements during questioning.

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A Decade of Waiting, A Ray of Hope: Earth Titanium Gets a Fresh Lease on Life

September 30, 2025

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It’s been ten long years. Ten years through which the Earth Titanium Project became not just another stalled construction site, but a wound in the lives of hundreds of families. You can imagine the scene—elderly couples pouring in retirement savings, parents setting aside what little they could for their children’s future, everyone chasing the dream of a better tomorrow. But instead, month after month, they were left looking at empty land, at broken promises, at hope slipping away. The builder, missing. The money, gone. Legal tangles stretched on, and slowly, resignation set in. But here’s the thing about people—sometimes, even when all doors seem shut, they find a way. That’s what these buyers did. Ordinary citizens, united in heartbreak but relentless in hope, dug their heels in. They banded together and said, “Not yet.” Through countless meetings, court dates, setbacks, and fresh disappointments, they kept fighting. And now, finally, there’s some light at the end of the tunnel. The Earth Titanium Project, all 37.5 acres of it, is poised for a comeback. The push is being driven by the buyers’ association (UTCA), real estate veterans Splendor Group, no-nonsense support from GNIDA, and a turnaround road map crafted by YASA. It’s a collaboration built less on glitzy promises, and more on dogged determination. HomeBuyers—The Real Heroes It’s worth pausing here. If there is a story in this turnaround, the real headline has to be the buyers themselves. Across Noida and Greater Noida, more than a lakh homes are still in limbo. Yet, Earth Titanium’s buyers didn’t let their investment become a mere statistic. They united, refused handouts, and demanded justice. Their fight proves what a handful of determined citizens can achieve if they stick together. Across India, more than 1,000 stalled housing projects have locked up over ₹10 trillion in capital, affecting about 432,000 homes. Of these, around 4.12 lakh stressed residential units are impacted, and nearly 2.40 lakh of them are located in the NCR alone. This crisis could not have moved without decisive intervention, and that is where GNIDA stepped in. GNIDA Steps Up To its credit, the Greater Noida Industrial Development Authority hasn’t just watched from the sidelines. GNIDA has committed support, plans are being made, and the stated aim is ensure the promised units are built and delivered to the buyers, not just paperwork. Importantly, GNIDA’s involvement means long pending dues to the government might finally be recovered, offering a template for other projects caught in similar webs. The region itself has seen dues of over ₹40,000 crore from stalled projects, leaving both homebuyers and government revenues waiting for resolution. Without GNIDA’s single window clearances and active coordination, this revival would not have been possible. Their intervention has given confidence to buyers that the state is standing firmly with them, and has also shown the industry how authority led governance can fast track real estate resolutions. With GNIDA’s framework in place, the responsibility of execution now rests with Splendor Group. Splendor’s Promise Splendor Group, known for putting up some of the region’s well recognized commercial and residential buildings, brings their solid credibility to the rescue. Their 40 year record isn’t window dressing, they’ve pledged to clear all dues once the NCLT gives the go ahead, and crucially, to drive transparent and speedy construction this time around. For families who had all but given up, this is perhaps the first time in years that they can start thinking of actual delivery, not just empty promises. Splendor has already delivered more than 10 million sq. ft. of residential and commercial projects across North India. YASA Group: The ‘Turnaround’ Specialist What’s changed this deadlock into an opportunity? Enter YASA Group, startup for stalled projects, with a reputation for rolling up sleeves and getting into the trenches. They’ve done the hard yards, navigating legal dead ends, bringing buyers, authority, and developers to the same table, and chalking out the kind of strategic roadmap NCLT proceedings require. Across India, more than 400 projects are currently stuck in NCLT or similar litigation, making Earth Titanium’s resolution a potential blueprint for many others. It is often said that if a project goes into NCLT, its completion is far from guaranteed, which makes Earth Titanium’s revival even more significant. What they’re saying: Voices from the Frontline ACEO (Land), GNIDA: “We don’t see such unity every day,” says the official. “When buyers come together with this resolve, it demands a solution. Our job is to make sure the process does its job—for honest homebuyers, and for the state.” Ms. Benu Sehgal, Splendor Group: “We’re not here to just build, this is about restoring trust. Our affidavit to GNIDA is our assurance. When we clear dues after NCLT clearance, it’ll be a transparent and accountable process. Everyone gets what’s due to them, finally.” Mr. Arvind Kumar Awasthy, UTCA: “We fought for over a decade. Today, seeing the sides come together, we know unity works. We’re grateful to GNIDA, Splendor, and YASA. Let this be the start of many such stories.” Piyush Pushpak, YASA Group: “Our job is to solve. We mapped, we persuaded, we aligned everyone. Let this be the blueprint for other distressed projects countrywide.” Looking Ahead Earth Titanium’s revival attempt isn’t a fairy tale, but a reminder of what’s possible when buyers’ grit meets official support and developer accountability. This is also the first project in India to be revived from liquidation stage under NCLT proceedings. For hundreds of waiting families, hope is no longer just a word—it’s a plan in motion. For Noida, this could be the start of something big: stalled projects given new life, not just new headlines. https://www.linkedin.com/company/yasa-group/?viewAsMember=true (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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